THE CHINA -MAIL, FRIDAY, SEPTEMBER 9, 1955.
TRADE and COMMERCE
SECTION
SHARE PRICES MOVE UP
World Rubber Turnover climbs to $8m
Markets
Singapore, Sept. 8. The rubber market was easier
on boiler oversens advices with moderate trading. Futures:
Na, rubber per . Sept. 14594-145%
Oct 1455-14523
Nav. unqu»tect
No. 2 rubber per tb. Sept. 148-1401
No. 3 No. 4
**
++
1970 131-1:2
243-14012 102-111
14810-14615
Spot rubber unbated .... Blanket crego ........
No, i pole crepe
NEW YORK
Futures today closed 75 lu
100 points higher with salts of 239 contracts,
and buyers return
SPOTLIGHT ON WHEELOCKS
By A Special Correspondent
TODAY'S
SHARE PRICES
(From Our Correspondent)
Business done on the Hongkong Stock Exchange this morning Noon amounted to $1,800,000. quotations and the morning's transactions.
SILARES DUYERS SELLERS SALES
HK k., 1735 1730
After a quiet start at the beginning of the week, shares prices led by ANKE Wheelocks began an advance on a wide front yesterday.
There appeared to be much more confidence in the market, buying London buying on arbitrage inquiry was reported "persistent and widespread" and yesterday's volume
of business - $2,690,000 was the biggest for about a month.
operations joined with short covering and commission house buying imparting a note of
The outstanding share strength after a
this " quiet start. But the spot market remalne week was Wheelock Marden. I with factories marking rose from $0.40 to a new high slow, 'time.' Small
sales included at $10.70. Its rise, which began
well Munday, may
have Borne one sheets for December lan
cents
for a pound, with triggered demand
Other at 47% further bid going unflfled. stocks, Spot No. 1 Ras were offered at 48% cents a pound. Futures:
Sept.
Dec,
Mar.
May
July
Sept.
LONDON
49.60
47,70
40.35
44.96
43.65 42.35
The market was steady with Spot No Has quoted at 417 pence per lb. Prices:
un.
1
East Asia મ INSURANCES
Union..... 1000 100
Lombard ....
Aala Nav. DOCKS, ETC. K. Whart Dock
Provident
17 1738
51730
10 1740
1 që 1750
10 1010 #4 u 1000
5016
D&c. 1000 1
70 7100 7015 30 20 2016
(Old)....
10:20 101 2040 67 1130 Wheelock .. 10.40 10 60 3100 p 10,50
LAND, ETC.
BURMESE RICE SALES POLICY
Rangoon, Sept. 8. Burmese Trade Develop- ment Minister U Beschld today said that Burma has adopted a vigorous sales policy to meet the bayers marked in rice, and thumb the present position is difi-
but by
critical.
means
Tho Government is alive to the fret that today there is a buyers market in rice," he told a meet- ing of the British majarity members of the Burmede Chamber of Commerce,
"Accordingly
adopted a
wre Have males vigorous polley and our approach to the price
question realistic "Facilities for paddy rice storage. Hilberto
ski.
satisfactory, are being im
especially
wilk engagement of the United -Nations Food and Agricul- tural Organisation storage expert, We have greatly reduced our stocks of old
and making every effort to ensure that within this year we shall have no old rics feft."--- United Press.
rice, 2000 10.30
3000 * 10.40
0200 @ 10.30 3300 o 10.40 ·
UK Hotel.. 79.19 19.40 1000 sp 10.70
HK Land Humphreys
(N) Inalty RUBBER
A. Rubber
*314
20.30
10.00 .2.325
3.178
Trust .... 315
UTILITIES
The week's turnover of $8,060,000 was the biggest for three weeks. SHIPPING
The really pleasing develop- signs. I hesitate to any that a complete recovery is assured. Itinent in yesterday's business was remains to be seen how much lie why in which Utilities res- more money comes into the Ex-ponded to the better sentiment. change. Until big operations re- Only Trams were steady at $24% turn again in something like full of the closing bell of yesterday's coll and the others force, obviously there can be no afternoon
were vil I said last week a display of complete recovery, confidence was badly needed
But for those who took my tip Lights old are up 80 cents to and that investors seemed to be fast work to place their orders while news are up 40 cents to $18.19. Yaumatls are up $3 to waiting for a buyer to start the immediately there is a good deal
5110. Elcetales are up $1 to bali rolling. That
That seems to have of consolation
in yesterday's 5424 and Telephones are up 75- About appened.
10,000 movements, and they should be
conts to $34. Wheelocks changed hands this showing small but welcome
Cements, an old favourite of this share
pront week and although
already. began rising on Monday, the rest
and with prospects of good of The
smiles market did not really Yet, lee tause Street is all mine, are up from $334 to $35 this week. Yesterday's
orders from the two companies to stir until Wednesday. hegi
stimulent seemed to have
building the new Kal Tak air- Also I think that Peking's slightly intoxicating effect;
strip these shares
are worth announcement that 28 Americans
in mind, red considererl chasing quivering spirits slightly.
Now Fanling to
interview some $10.60 buyers to $17 yesterday, the hope is that it will not be broker friends on the fairways. Dairy Farms are 50 cents better
But long before China frees the rest.
catch a few at $23.80. I managed to
Mela Industries are busily them in their Obviously this is an essential of the
offices ously up from $24
to $2.45. Perhaps prerequisite to any detente or signing piles of contract notes.
think people
Meta) way the rise in Wheelocks? Industries settlement of Fur East problems,
Involved in the Pleasing Signs I had been predicted for some prospecting for beryl. The market was steadier. No Although yesterday's rise in time in this column, of course, changes quotations since share prices and the bigger but recently
the Yesterday-United Press. volume of business are pleasing rumours in the market that
getting better returns company is from Es loans to Japanese ship Wheelock group, and the Press
This was con- conference ping interests.
given by Mr E. G. fumed by a spokesman for the Smith-Wright should have been company who told me yesterday malicient to dispel any illusions that as a result of the recent about Hongkong making millions rise in freight rates there had out of beryl. been a revision of contracts with
and
40-40% would be released has restored many went off to celebrate nekong Ropes are up from
Settioinent house teran:
October
4134-42
November
December
October/December
Jentinry/March
April/June
July/September
September
October
November
thick September
415-41% 41-43 404-401 3042-2845 374-373%
414-411 41-41 unquoted
4214
AMSTERDAM
General markets, cif basis, ports:
Estate crepe this and nurl
New York
Stock
Market Prices
New York, Sept. 8. Rail shares surged ahead on gains ranging over 2 points today while industrial shares marked time.
Demand for rails has fentuerd recent sessions to the delight of those traders who see real confirmation of the industrial rise as essential to a prolonged market rise.
10
Today individual gains ranged
2 points or more in. Rock Island Delaware & Hudson and Kansas City Southern: a point or more in Chesapeake & Ohio, Nickel
Brick
Pacific..
Northern
Plate
Santa Fe bad one of
the few losses-a drop of more
than a point.
Trading continued
better pace of recent with 2,380,888 yesterday,
at
the pessions
Special Stocks
Special stocks among the in- dustrials were strong per- formers. Hertz Corp. gained nearly 4 on a two-for-one stock split announcement and held 2 points.
Carpenter Steel points,
Wooward
Eastman Kodak
Eric Rallroad
General Electric
I
out to
some
pre
Actually this work is being. For Eastern by the
and Development
there have been. Lid.,
another of the
the Japanese resulting in higher returns to the company.
Beryl Problems
I gather that not all the old Mr Smith-Wright told me yes contracts have expired yet terday. the main dimculty is
that freight in the extraction but presupposing
of bery! rates continue at present levels, crystals from the surrounding the company should benefit from quartz and other material. A revised payments in due course.present there is no machine that can do it and it all has to bo done by hand, which is quite a laborious prÚCESY,
Wharf Bonus
But as far as I know there has been no speciile development to cause the sudden sharp rises of 441% this week.
This is also the opinion of the company.
Hongkong and Kowloon Whart announced this morning that it 2291% is paying a cash bonus of $9 a share to shareholders registered as from September 28,
كن
Continental Oll of Del. Corn Products
20
Crane Co.,
34
Crows Zellerbach
84
Cuban Amer. Sugar
10
Curtis Wright
23
Diamond Alkali
43%
Dow Chemicals
58
Dupont de Nemours
80
El Paso National Gas
014
2115
Fruity Finance Corp.
241
6312
General Foods
HJ
General Motors
120
Gen. Pub., Utu
2012
Gillette Safely Razor
Glidden Co.
Goodrich (B. F.) Co.
73%
Goodyear Tire
012
Heyden Chemient
103
oinstake Mining Co.
37
Ingersoll-Rand
.B4
B
60 slacks in
400
Ju
fuland Steel Co.
interchemical Corp. Int'l Business Machines Int Harvester
International Nickel
international Paper
ron Iron
up
more
5
Int'l Tel & Tel
than 3 points and Republle Steel
added nearly 2 points more on Its hugo expansion programme. Non-ferrous metals were
under leadership strong aluminium shares.
Aluminium and high-priced Reynolds rose more than 3.
John-Manville Co. Kansas C. Power & Light Kannecolt Copper Lockheed Aircraft Loews Incorp
Lone Star Cement Co. Louisville Nashville R. Lowenstein & Sons. Mesabi Iron Corp. Minnesota Mining
Mission Development Monsanto Chemical Co.
Motors were neglected with Montgomery Ward Chrysler and General Motors Motorola Inc. both unchanged. American Vis-National Cash Reg. "A"
National Dairy Prod.
hut by realising, declined National Distillers only 3, and Distillers Corp National Lead Freeport Sulphur, Owen-Illinois National Steel Corp. Glass lost a point to more than 2 points.
Of a total 1,183 issues traded,
532 were higher, 408 lowes.
New York Central
On Mathieson Otis Elevators
Owen-liliants Glass
| Poellic Cộn & Elec. Packs Western Oll Pen American Airways Paramount Pictures
Bond volume on the New York Stock Exchange was $5,270,000.
Volume on the American Parke Davis Co.
Permy J.C. Co.
Stock Exchange was 680,000 Penn, Salt Co.
shores.
Closing Prices
Alden Ine, Acy, Allied Chemicala Allied Mix Inc.
Allis Chalmers
American Smelting 'Am, Sugar, Ret. American Tal & Tei American Tob, "B" Anaconda Copper
Philip Morris Philips Petroleum Procter & Gamble Co. Pittsburgh Plate GloS Publicket Industries Pure Ott
DSPAR Radio Corporation
234 Reo Motors...
Republic Steel
7041 | Blandard Oil of Ind
A comparison of yesterday's elazing rates with those of a week ago show that of 24 issues traded, 16 are higher, three are Steady and five are down.
do not think there is any
Demand for beryl does not scom to be particularly heavy in the world markets. The price, nelivered in America, is between US$300 and $528 a ton, not US$50,000
14 some people In Fleet Street seem to think,
Allieds are sleady at $5,80, Yangtsze Finance are five cents Better at $8.20 but they should rise next week following the
advances made by Wheelocks.
Tram ....470
3000 10
2003 10.10
100 10,20
1000 à 10 30
500 € 74
↓
12,000 2375
2014,500 ₪ 18 29,000 je 2.175 3.20 10,023 40 0.16 20,000 se 3.1735
Y'mati Ferry '119 120
1000 24.20 11002480
C. Light (0) 2340 23.70 0700 @ 231s 500 ** 18.30 C. Light (N) 18.10 Electric......
20043
1300344
43 43% 2000 43
Macão Elec, 11.DO Telephone ..33 3414 7000 34 INDUSTRIALS
Cament. 3315
17 Rope** Metal Indust. 2.40 245 3000 @ 2,45 STORES, ETC.
234 10002330
Dairy
Watson
14.80
La Crwford 37 CUTTONS
Textile
30 2780 381
1100 35.75
13
1300 @ 23:40
6 1000 4 000
... 0.83 Nanyang 840 81 4000 8.45 MISCELLANEOUS
Entertain-
ment ..... 10.40 10 80 Vibra
2314 24 1000 ₫ 23.80 8.50 840 1000 8.30 Yonglaze
12.003 Med
WORLD COTTON MARKETS
New York, Sept. 8. Cotton futures trading to- day flattened out after a short-lived spurt of activity following the Government crop report.
The official estimate showed a small increase, but the figuro. was about in line with general expectations and had been dis- counted
With the report out of the
way
traders turned attention back to the continuing un-
certainty over disposal of the
raw cotton surplus.
Crop
market news,
developments, textile ws, loan impoundings and first notice
the day for 4.00 5.36 1000
1000 595 October delivery are expected 3000 590 to occupy the main attention i
the immediate future.
Singapore
Stock Market
Tin Smelters Ord. Froger & Neave Ltd. Ord. Fraser & Neave Lid. 75%
cum, pret.. Hongkong
Shanghai
After swaying within a ten- point range the list closed o to points lower. Opening prices were off a to 6 points. New Orleans closed of 8 to 10 points.
First notice day will be Sept. 20. The open position in the spot
month totalled 270,000 bales.
The certificated amount. ed to 24 bales.
Singapore, Sept 9. Brokers today quoted the following stock prices;
Opening Co. Batu Lintang Tibber
Ltd.
The Sept. 1 crop estimate for ****** $1.03 British Bomeo Petroleum,
balca 12,873,000
was 145,000 Syndicato
45 Gal bries
bales more than a month ago Consolidated
29 and compared with last year's $1.75 Anal production of 13,890,000 bales. Traders said the in- 36.10
crease simply meant a little B010 more cotton will be added to the already large surplus. With $1.80 futures selling below the aver $2.38. $3.45
rate at the 14 $ge loan
spot markets, traders were hesitant 14.50 about pressing offerings after
the
volume and open in-
Banking, Corp. Hongkong in L. Kempaa Ltd. ... Lunas Rubber Estates Ltd. Malayan Brewerles
Rubber
In the cottons group, Nanyang's are steady and Textiles are up New Serandah 45 cents on a sale at $5.85.
Rubbers have been Lairly
particular significance in the fact steady this week, rising slightly that Banks and
Unions are yesterday.
Glit-edged
Raw material prices among the "downs,"
London, which those five cents up to 147% Straits Hongkong and Shanghai Bank cents a lb.
hold in common with all other What happens next week? The 85% British banics, are still weak emens arc good. Confidence
it 30% and while
some concern to economists few are
100
B6
40
301%
21
Ltd. Petaling Tin Ltd."' Raffles Hotel Singapore Cold Storage South British Insurance Co,
Ltd. Straits Trading
Steamship United Engineers Ord. Weame Bros.
$1.65
cum "divChina Mall Special. Mar
may be causing seems to have returned. There New York Sugar
buyers-and
plenty
of
"small" shareholders need worry | money--about. There is there- About 200 fore no reason why the recovery 15 about this aspect.
shares wore traded yesterday should not continue but it will 834 between $1715 and $1720.
07
2011
3012
10316
304%
Excellent Prospects ·
Unions feil $5 on the week to 45% $1005 but they are still at a 40% comparatively high level and the 39 fall is really only fractional
40%
In the dock section, Providents
a nave risen 50 cents to $10.30
13
68 while Docks are up 20 cents to 4744 $28.20. Providents are one of 6014 my three choices at the moment. firhey have excellent prospects 122
524for this year, so I'm told by an 43 Ice House Street man who has 1014 made
close study of the very company's affairs.
41
00
47
probably be very gradual at
Arst.
Market
New York, Sept. 8. World No. 4 sugar futures Prices are still too high, | closed today unchanged to you think? One broker's answer 2 points higher with sales of to this question yesterday was five contrasts. "Prices are always too high."
in the Exchange today
P&O B.I. E&A
COMPANIES.
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Leaves London Bus lobakong Kallac
Dotwards "CANTON" "CARTHAGE" 14th September
"CHUSAN”
"CONFU"
10 September
17th October
30th September
12th October
29th October
14th November
Via Bouthampton, Port said, Aden, Bombay, Colombo,
Homewards
"CANTON"
"CARTHAGE” "OHUBAN" "CONFU"
Penang & Blogspore
Leaves Hongkong Das London 13rd September 24th October alat October
2nd November
21st November
29th November
18th November 10th December
Via Blogspote, Penang, 'Colombo, Bombay, Aden, Port Said London
Also calls at Malta.
"BURAT"
*
FREIGHT SERVICE
load 26th Sept. for S'pore, P. Swetten- ham, Penang, Colombo. Aden. Port Said, Genoa Marseilles, Havre. Lon- don, Antwerp. Rotter- dam & Lamburg
"SHILLONG” đưa
27th Sept, from UK. via Stralia Ionda 20th Sept. for Jopan With Eberty to call at Belawan before or after Stzalta Ports and at Bombay if inducement offers Tanks available for carriage of Oil in Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
dus pm 8th Sept, from Japan salis 10th Sept. for Singapore, Rangoon
& Chittagong đuo 13th Sept. fruin Japan salks 14th Sept.
"WARORA”
.“SANTHIA"
for Singapore, Penang Rangoon & Calcutta
"BIRDHANA” due, 130 Sept. trom Calcutta via Ron-
geon & Straits I walls 1410) Sept. for Japan
P. & O./B. I. JOINT SERVICE
"ITOLA"
"ORMANA”
"ORDIA"
"ORNA"
due 13th Sept, from Japon
salls 14th Sept. for Singapore, Madras, Karachi Bhavnagar, Basrail. Abadan, Khot ramshahr & Kuwait
'dae 200h Sept. from Japan
salla 19th Sept. for S'pore,
BOMBAY, Karachi, Basrah, Khor- raner & Kuwait dus 23xi Bopt. from Karachi de Bombay sails 24th Sept. for Japan
dun 1st Oct: from Karachi & Bombay malls And Oct. for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLORE"
due 3rd Oct. loads 4th Ort.
from Australia ter Japan “ARAFURA” – Ford: 9/7th Oct. for: Sandakan, Rabaul, Brisbane. Bydney, Mel- bourne & Adelaide ́All-vessels have liberly to call at any poria on or off the route & the route és sailing are subject to change or amendment with or without notice.
For full particulars apply to:- MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4,
MESSAGERIES MARITIMES
P.O. Box 33. Queen's Building Tel: 26631 | FAST PASSENGER/FREIGHT SERVICE
"LAOS” "VIETNAM”
sailing Sept. 10th
sailing Oct. 8th
Volume
Open interest,
210,000
FAST FREIGHT SERVICE
"MEINAM" "PEIHO"
aalling Sept. 21st
sailing Oct. 18th
17,300
40,300
744,800
350,700
400,100
130,000
2.143,900 bales
27.600
$1.75
$20.00 terest
$24.25 were:
$13.00 Month
$10.70 Oct.
Doc.
May
July
Oct.
8,300 12,700 :
1.300 €1,300
208 2:00
Dec
700
Total
$1,000
NEW YORK
Prices of futures closed today
us follows:
Epst
21.23
Get.
Dec.
Domestic No. 6 sugar futures closed 1 point lower to 2 points higher with sales of 21 con-
Mar
May
July Oct, Dec.
amall predominated
NEW ORLEANS
In world raws, dealers under- stood the German purchases of 100,000 tons of Cuban had not Most sections of the stock definitely been completed. Ger-
mon market marked time today, deal reportedly have not yet brokers involved in the and industrials clinched the purchase of raws
Prices of futures closed today is follows:
Spot Oct,
33.40
33.53
Doo.
33.50
Mar.
33.37
May
33.28.20
JULY
207
Oct Dec
32,30
London Stock
Market
London, Sept. 8.
oils Hotels a down from $19,40 but 43 to $18.70. You will remember
trade buying ordery
In both maricots fcature an otherwise slow zituation.
Last week this column said that managed to turn in moderate from Cuban sellers. Yesterday,
100 the Central Development syndl gains.
D71G
܃
it was understood the deal bad been completed at a price of around 3.25 cents a pound Lo.b. Cuba.
Contract No. 4 (world)
10 cate had paid off the $6.8 million
Blue chips showed fractional company's 3owing en the Hotel
Pedder Street site. It was also losses, and foreign bends suffer
ed sizable declines. on profit. stated that actual building of
October Peninsula Court, the 12-storey taking.
March May block of service flats behind
July Among the diis, Royal Dutch the hotel, would begin as
roled an, upward march and tack-September se materials arrived.
gain of 15 shillingsy Spot (cents per lb. fob Cuba) Market
Contract No. 0 observers agree
British Petroleum closed nine- | November. 4although this news has been pence higher and Canadian Merch 3936known for some time, the
in-
Eagle was up one shilling. ference that shareholders are
Spot (cents per lb. elf NY
ex-duty) not likely to get a bonus or an
Store shares enjoyed an activa
illed increased dividend out of the session
with Great Universal
ed on a
that
1131
30
Reynolds Metal
703;
Shell Oll Co....
American Airline
241
Saint Reg. Paper
American Cyanamtulo Co.
62
Shell Ol....
An. Much, á 3 dry,
274)
Bonny Vacınım
American Motal
61
South Porto Rico Supu
646
Southern National Gas
#
Bouthern Raliway (Com.)
1771% | Blandard Brands
74%
Standard Oll of Cal.
40%
Armco Atenl
474
Standard Oil of NJ.
136
Armotte
20%
Stokely-Van Camp.
1096
Baldwin-Lama-lem.
Bludebaker-Packard Corp.
Baltimore & Ohio...
61%
Swift & Co..
Belix Aviation Corp,
491
Taxas Co,
Benguet Cora,
14
| Tide Water Ama, Qu
Bethlehem Steel
Xool
Twenty: Century Fox Film
Boeing Airplane
054
Union Carbido
11405
Borders (To) Co.
04 Union Paciilo Railway
Burroughs And Machine
United Aircraft....
BO
58
211 be
4734
Day's. sue was an odd lot of 15. Olds sold at $1911⁄2 yesterday (also
Canadian Pacific I.....
Ca (3, 1.).00. Ginncial Corp. Cat Temotor Calum Corp
Chryder & Motor
Colate Palmolive Co. *** Commercial credit Commonwealli: Eleo,
U. 8: Line Co.
CollỮA. Rubber .....
47.8. Smelling
6.8. Steel
Wamer Beos.
25% | Westinghouse, Mectric
West-Vay Pulp
16 | Woolworth
$6.0 million windfall bas possibly sloves up one shilling and
MAY
€8888=ad
REGABBAR
LIVERPOOL
Future closings, American middling, in pence per lb, were as follows:
Oct/Nov.
Dec/Jan.
Mar/Apr.
May/June
July/Aug.
21.34
30.86
30.41
28.01
28.20
, SAO PAULO holiday
again kept the market closed today. In the US
average price of-16/6 middling cotton at 14 designated spot
HONG KONG-MACAU LINE
M.V. TAI LOY
AIR-CONDITIONED
DAILY SAILING
DEPARTURE HONG KONG MACAU
TIME
3.00 P.M.
3.00 A.M.
For Froighn & Fassage,
please call: Tel. 26719 & 38091;
TAK KEE SHIPPING, & TRADING CO. LTD.
FU HOUSE; HONG KONG.
BA markets was 38.87 conts; als THE “POST"" TYPHOON MAP
benused a little disappointment in Woolworths 73% penca bigher London Foreign
103 thn market.
German and Japanese bonda Lands
are up from $784 to suffered louros at a point" or $74. Humphreys now are down more.
percept Јарапова 30 cents to $18.70 but this may
1930 plummeted five- potribs due to the fact that yester
Exchange
"London, Bapti
to £24914, Some German, batter Naw Works declined us much as three points.
Gold
(opened quieti
Mak), an odd, 201), which-makes them but, towards the close, mulher
silghtly; lower, "on: thỏ wook, | ground dry fivourable divideer Hollier, however, are up by neww: front: "Inrow "Orings (Tem Kevon and a half conta $2.56. Eftate, compacted U
New-York: foreign
at these centros totalled, 29,265 bales, United Presa
Exchange Rates and TYPHOON TABLE
Sim
Buntleyanawa dona, () the local unomial:
herkes TURNIETAL, RE-the following rm10w;==
18, dollar. (per all) Sterling noter (per £1 Australian notés (per £1)ADD Inconseden rupiah-(per 100). Įrates | Bingapore (Bfruits);"
Indo-China plautzen” (per 100)‹,
Mounted $5.00 Unmounted $4.00
Giving bearing-distance and time-distance for typhoons likely to affect Hong Kong. A useful adjunct to the "Post" Typhoon May.
$2.00 Mounted-
Obtainable from
SOUTH CHINA MORNING POST HONGKONG: 4 KOWLOON