TRADE
THE CHINA MAIL, FRIDAY, SEPTEMBER 16, 1955.
and
New York Stock Indian Cotton
Market
New York, Sept. 15..
Prices on the stock market receded today with the high-priced issues leading the way.
-was moderately active.
Trading
A few specialties managed to counter the The retreat in prices trend with modest gains.
The ex- was generally expected in Wall Street. perts said the first was due for some correction because of the recent advance which moved indus- trials to a further new all-time high ground,
The
murkey opened aclive | Mining leg the market,In turn-
A num- and generally higher.
over. It topped the most nelive
ber of large blocks on the tape] Ist with 277,000 shares chang- at the outsel. Once this over- | ing hands. The issue closed at
of orders 12. up 4. night accumulation
trading was out of the way slowed down.
Two stocks stole the spotlight tatlay. Low-priced Benguet
WORLD RUBBER MARKETS
Singapore, Sept, 15. The rubber market opened stendy on United Kingdom and Continental acceptances, IL eased off towards the close on profit-taking. Future closings
were:
No. 1 rubber per 1,
Det.
On the opposite side, Coca- Cola International, the highest prived stock listed, made one of its
the appearances 011 'ape. It apurted $185 19 $1,160.
rare
In the main industrial group, steel shares ran into some miki -profit-taking.
For China
New Delhi, Sept. 15. Negotiations with Chian for the expɔrt of 30,000 bales of raw cotton from Indla have been com. pleted, the Indian Ministér of Commerce and In- dustries announced today.
Tha
Lo cotton.
said, will be supplied In 20 oblique 32 inches and 25 obilque 32 inches staple lengths.
to
An offer by China purchase caustic soda and soda ash is under considera- tion, he added. —- United Press
WORLD COTTON MARKETS
COMMERCE
SECTION
FURTHER SLIGHT IMPROVEMENT
But Shares Close Below
Best Levels Of The Week
TURNOVER AGAIN HIGHER
By A Special Correspondent
The Week's Movements
This table shows the Stock Exchange movements during the week according to closing prices with the variation in the last column:
Share HK Bank Union HK Wharf Wheelocks Provident HK Dock Hotel HK Land Yaumati
16.30 10.40
73
1005
72xb steady
0.75 10 10.40 10.30
2814
00-
steady
Up or
1720
Sept 8 Sept 12 Sept 13 Sept 15
1745
down
1748
1745 +-$25
1015
1010
1008
steady
70
7 b
10.60
10.10
28.20
28.60
28.10
4-30
18.70 18.00
74 119
75 -110
7416
18.80 18.00 20 74
steady
119
HK Tram China Lis (0)
2436
24.90
2314
23.70
24.90 24.00
117
-62
+10
23.70 23.60
+10
(n)
18.10
18.60
18.30
18.60
+50
4214
434
43
4334
34
3414
344
3414
35
37
7
361
304
23.30
23.40
23.10
23
-30
8.20
8.25
8.15
8.10b --10
Allied Textile
5.80
5.90
5.00
5.85
5.00
1.90
9.00% +5
Humplireys (n)
18.70
19.30
19.70
10.60
1
Although share prices closed below their best levels, the market showed a further slight improvement on the week.
The weekly turnover was up from $8,060,000 to $9,820,000 and of 20 issues traded regularly during the week, 11 were higher, five were steady and four were lower compared with last Thursday's rates.
Cements, Wheelocks and Banks were among the main features; the former two were the most active and Banks made a recovery after a long decline. More than 142,000 Wheelocks Įarivancing under better inquiry. Į and 31,000 Cements changed The tempo of trading was in- hands during the week.
clined to slacken towards the end of the week and although The Independent expert's re-most issues closed below their port on the harbour tunnelbest levels, the undertone of the scheme was released this week. market remained quietly stendy. Government has not made
I sald last week that I thought
New York, Sept. 15. Oil shares also met some mild selling with Texas Com- Cotton futures today known its views and I gather pany the weak spot. It declined back-tracked sharply when is not likely to for some time that the recovery would be 114 Points to $111%.
attempts to keep Wednes- but in its first reaction, Yaumati gradual and I expect the market General Motors led the sell-day's rally going fizzled out. slipped $2 to $117.
will "elimb another step" this off in its Kroup with a loss of 2 points to $1307%. Chrysler
The
to chief obstacle
the week. Conceding eary gains up to 50 1/4 to $89. slipped
cust cents a bale, the list gradually scheme, apart from the totalled Sules
Jo which estimated 2,800.000 lost ground with the deferred
at $100 share, compared with 2,500,- deliverica skirting chase to the
that the proposal 000 shares yesterday.
seasonal lows made early in the envisages one exit on the site of week
Murray Barracks, ai
present occupied by the Army.
One point the report made was that as the plan envisaged a purely, vehicular funnel, exist
forty ing passenger
Bond volume was $5,380.000 on the NY. Stock Exchange,
Volume was 790,000 shares on American Exchange.
Dow-Jones closing averages today were:
39 Industrials
Nov.
13134-152 150%+150*/
Dr.
unglinted
No. 2 rubber her 1.
Oci. No. 3 rubber per b
Oct,
14515-140
20 rails
34313-144
Tutes
1359-1359%
1001-1007. 112-114 152-101
No. 4 rubber per 1.
Oct.
Spot, rubber unbaled
Blanket crepe
Ny. 1 pale crepe
NEW YORK
Futures today closed 40 points
Jower to 10 points higher with sales of 121 contracts.
less active terminal market trade reflected continued dull. ners in the spot market and a pause in speculative interest following the recent rise to
ve-year high prices.
Factories and other buyers continued to mark time in the spot market, where No. 1 Rss
49% verits were offered at pound!
December
March
May
July
September
Drennter
Futures:
LONDON
wag
The market
30 Bonds
Camm. future price index
401.50
0.38
Dealers attributed the reversal to state long liquiintion coming froin commission houses, local operators and trade interests which have become discouraged 103.53 by the slow development of ex- 85.71 port buying and continuing un- 112.29 certainly over the Government's price support 15433 (uture polley on
and production controls.
Technicians thought some of have been the shippers who riding the market long, ant!- elpating more export sales, ap- parently were in need of liquid funds and were lightening some of their cotton holdings.
Closing Prices
Alden Inc. Acy. Alled Chemicals Allied Mats Inc.
Allis Chalmers American Alvine American Cyanamide Co. Am. Math. & dry. American Metal American Smelting Aunerican Tel & Tel American Tob. "B" Anavorato Copper Arqueo Steet ... Trefiwi-Lima-1inm | Baltimore & Ohlu
Bendix Aviation Corp. Benguet Cons.
Betilchen Steel
Boeing Airplang
$243
112
36
E.
2312
27
CRIS 54
1801
77
The decline came in fece of much heavier producers Im- poundings under the Govern- 79% ment 1035 loan programine, 4050
141
105
Entries for the week ended $12 Sept. 9 totalled 37,874 bales, or almost double the rate of the preceding week. In view of the 62% discount on spots and futures in
Joan, 1 the average relation to dealera said they were not sur 16 prised at the increase in entries. 4730
Borden (The) Co.
£5
Burroughs Add Machine
Canadian Pacific It
5
Caso (J. 1. Co.
48.30-33. T. Financial Corp.
49.10
47.40
$4.00
44.15
42.69
Cat Tractor
Celanese, Corp.
Caryler Motors
Colgate-Palmolive Co. Comuneren Credit
Commonwealth Elee.
uncertain
Consolidated Edison
with spot down three-eighth fo
431⁄2 2nce. Prlecs:
Continental Olf of Del.
·Coatinrmini Steel
| Com" Products
51%
23
5474
Closing at bottom levels for the day the
not list showed losses of 13 to 35 points, Open- 52.1/5 ing prices were up 2 to 5 points. Now Orleans closed off 17 to 20
50 points.
44
million,
la
of a
TODAY'S SHARE PRICES
Business done on the Hong- kong Stock Exchange this morn ing amounted to $530,000. Noon quotations and the morning's transactions:
A graph of share levels in the last six months would possibly show something
parallel between the movements of the Just fortnight and those of May and June; not a true parallel, vi | SHARES DUYERS SELLEOS BALES course, because In June the boom had gathered momentum and was moving at a much faster is at than the nurket services rate
present.
should not be affected, and .it was expected these would con- tinue to be used to empacity.
Strong Opposition
Climbing in Steps
However, If this trend con- tinues, as I imagine it will, the I am told there is still very same "step" movement should strong opposition to the project be apparent in the graph for in the Colony but a number of September and October, though people in Ice House Street were the ascent will probably prove surprised by the comparatively to be much flatter.
maintenance cost
low annual
and favourably impressed with the plan as a whole.
I often regret that there is no share market index in Hong- kong. Of course, it would be In the market this week, the | very hard to start one now but Improved sentiment shown last what a plly one was not started Thursday and Friday continued when the Stock Exchango re- opened after the liberation. on Monday with prices steadily ope
It would make the plotting ΟΙ the market's course 30 very much easier and would give the investing public a very much
clearer pleture of the overali dally or weekly move- ments
the than
necessarily generalised comments that I make in this column.
New York Sugar
Market
New York, Sept, 15. World No. 4 sugar futures closed today unchanged to point tower with sales of #2
40 Trading volume and open in-contracts.
the Exchongo today
2615
30terest in
Domestic No. 0 sugar futures remained unchanged to 1 point Volume Open interem flower with no sales reported.
Refiners, dealers and commis- sion houses were reported on both sides of the moderate trade
Futures: in world futures.
Contract No. 4 (world)
BANKS
HC Bank East Aria
1730
734
INSURANCES
Unton......... Loubord
1010
30
200 60 64
DUCKS, ETC. K. Wharf X Bonu
Dock
73
20.30 20.70
18 10.30 150
Provident
(Old)..... Wheelock .. 0.00
LAND, ETC.
10 2000
3000 on 10
5000 in 0.05 2000 0.93
IK Hotel .. 10.60 15.00 1000 € 18.00 1 Land
X All... CAS Humphro39 201
1500 2013 (NI 10.70 10.00 300 a 10,70 2.50 2.373 000 ų 2.325
Healty RUBBER
A. Rubber.2.223.275 6000 or 2.275
23,000 vr Trust
3.22% 1000 3.25
UTILITVES
Tram....... 24.40 24.00
147 Y'mall C. Light (0) 23.20 23,70 C. Light (N) 18.30 10.00 Electric 43% 43 713
1104 13.80
Star Ferry 110 MT 452-
Macao Eloc. Telephone
This report is based almost INDUSTRIALS entirely on summaries and com- ments supplied by Ice House Street brokers and Information
1
individual supplied by panies. I have followed. policy consistently because I
this
I
com-
feel
30 of 23.40
04 3415 $100
Cement -30% 50% 2100 ₫ Scis
STORES, ETC.
Daldy
22.70 63.40 Watson.... 14.00114.80 100 14.70 L. Crawford 37
COTTONS Textles
this weekly column should attempt to reflect the
Nanyang B specialists views. But think index figures their would lend emphasis to comments reported here, as well as to the daily market report, and would certainly provide an interesting basis for comparison of movements over a period of a year.
Crane Co.
No 1 RA
434-43%
Crown Zellerbach
503%
were:
Settlement house termi
fubau Amer. Sugar
Oct.
422-4330 Curtis Wright
2241
Manih
Nov,
4352-434
Diamond Alcal
0359
Ocl./Dec.
437-432
Dow Chemicals
00
Dot.
19,100
235,000
Jan/Mar.
Dupont de Nenoura
23132
Dic.
42.000
338,800
Apr./June
Bastinan Kodak
03
Mar
10,000
725,000
July/Sept.
32-39
El Paso National Gast
521
May
14,200
435,1700
July
6,300
204,400
Eric Railroadi
Det.
2,200
130,400
Sept.
ungated
Family Finance Corp.
General FoodN
Dec.
2,000
General Motors
1303
Total
Gen, Pub. Uin.
Gilette Safety Razor
30.000 103,500 2,117,000 balen NEW YORK
Glidden Co.
Goodrich (B. F.) Co.
Prices of futures closed today May
Goodyear Tyre
as follows:
10%
Oct. Mnr.
July Sept.
Hoistake Mining Co.
Spot
#74L
October
パラナロ
31.400
32,05-87 32.90-33,00
Spot-teents per tb. fab Cuba)
Contract No. 4
32.82
$2,00
Nov.
322.35
Mar.
1,50 5,30
HK Trade Report
May
.411
32,00
Spot-(dents par lb. cit
NY ex-duty)
0,40
United Press,
General markets:
Oct,
Nov.
43-4344 425-42
Estate crepe thin Oct... unquoted
tilek Oct.
424
Ualted Press,
New York Foreign
Exchange
Heyden Chemical
Ingersoll-Rand
Intard Steel Co.
Interchemical Corp.
In Budness Machines
Ir. Hirvester
Canada England-file int
++
30-day futures
10-day futures 2.77 9/33 Lone Star Cement Co. The free market rate of the Japanese yen to the US dollar,
as quoted by Pick's World Cur
401.00.-United Report:
rency Press,
Mesabi Kron Corp. Minnegoda Mining
Monsanto Chenilent Co. Mission Development Montgomery Ward
Parts
December
Dzi March
30
NEW ORLEANS
Prices of futures closed today
32,00
7.23 3,43
123
Looking at the market: Banks have made their first substantial 328 rise after many weeks of decline.
NEW YORK METAL
FUTURES
405
MAY
3844
July
International Nickel
0574
October
International Poper
113
December
Int'l Tel, & Tel.
30%
John-Manville Co.
BO
New York, Sept. 15.
$1.01 0/30
2.707 2,71 3/16 Loews Incorp,
Ranana C. Power & Light
42
Hennecott Copper ...
1273
Liggett Meyers Tob. Co. Lockheed Alert
B014
as follows: +
03
Spot
October
2001
Dooomber
March May
Motorola Ine,
MET
National C Reg. "A"
Fully October December
National Dairy Prod.
National Dial Mora
SAO PAULO
8012
Future closings, in cruzeiros $13 per kilo were as follows:
Sept.
Oct.
Tin
Oct
32.60
6231 Dec.
34.50
414% Mar,
Sept. Oct. Zino, Bept.
215.00
Oct.
1016
May
19.00
47EL
Copper Sept.
Oct.
41%
United Prest.
2017 4515
Paramount Pictures
Parko Davis Co.
Penny J. C, Co.
London Foreign
Exchange
New York Montreat Amsterdam Copenhagen Frankfurt
Milan
Stockholm
London, Sept. 16. 2.3314-2.704% 2,70 1/10-2.70 10.6716-10.57%" 1032-19,324 11.0814-11.60% 1730 173835 $77316-273-12
14.30-14.30
unchanged.
Others were United Press.
LONDON METAL PRICES
London, Sept. 15.
The tin market was firmer to- day. Other metals were stendy. Prices closed today in sterling per long ton as follows:
National Lend .......... National Steel Corp. New York Central | Ofka Mathieson
Ots Elevatore_...
Owen-nola Glass Pacifio Gan & Piec. Paciile Western Oil Pan American Airways
Penn. Salt Co.
Philip Morris
Philips Petroleum Procter & Gamble Co. Pätsburgh Plate Class
Publicker Industries Pure O...........
| Radio Corporation
Rea Motor
Republie Steol Reynolds Metal Shell Oil Co,...
Sueciair
I'apor
South Porto Rico Sugar Southern National Gas Southern Railway (Com.) Standar Brands
Standard Olf of Cal, Standard Oli of Ind, Ataulartă Oil of NJ. Sterling Drug Co. Stokely Van Camp.
Studebaker-Packard Awin & Co.
Texas Co. Tide Water Anm. Oli
buyers sellers Twenty Century Fox Flim
1404 0.9. Cyprus
3-menth
Tin Brot
7473
7454 Union Carbide
3-month
Copper spot
1.5. Line Ca
Laad Ist half Rept.
107
IIS ÜB Rubber
U.S. Bmelting'
Find.
1075
U.B. Meel
Eine fet, half Bépi
01
DILL
Woskinsholme,
West Va. Pulp & Pape
United Pram.
Corp.
75
10442
In the United States, the average price of 15/16 middling
was
461% cotton at 14 designated spot
markets
not available. Sales at these centres tofalled 47,047 bales,
Liverpool cotton prices were not avaliable,United Press,
London Wooltop Market
Loniton, Sept. 15.
Woolfop futuras market closed steady with prices about 4 of penny higher, Turnover wis
New York, Sept. 15. Pricts of metal futures closed today In cents per lb, as follows:
Lond
14.70b
12.32
HK Electrie Telephone Cement Dairy Farm Yangtsre
+-$1.50
5.80b stendy
-+-90
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Ontwards "CANTON" "CARTILAGE” "CHUSAN" "CORFU"
Leaves London Due Hongkong Sulled
10th September
14th September
17th October
30th September
12 October
20th October
14th November
Via Southampton, Port Said, Aden, Bombay,, Culombo, Penang & Singapore
Demewards "CANTON"*. "CARTHAGE” "CHUSAN" "CORFU"
Leaves Hongkong Due London
23rd September
24h
October
Alst October
21st
November
2nd November
27th November
18th November 10th December
Via Singapore, Penang, Colombo, Bombay, Adım, Port Bald & London Also calls at Malta.
"SURAT"
FREIGHT SERVICE
Loads 25th Best,
for E'poro, P.' Swetten. ham, Penang, Colombo, Aden. Port Said, Genos Moracles, Havre, Lon- Ilotter- don, Antwerp. dam & Hamburg "SHILLONG" due 27th Sept. from UK. via Straits
loads 28th Sept. for Japan
With liberty to call at Belawan before of after' Straits Forts and at Bombay if inducement offers. Tanks available for carriage of Oil In Buik. Space for refrigerated cargo, Limlied Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
4th Oct. from Japan
6.80
1000 * 5.00 1600 4 0.43 500 3.50 2150 64 1.33
MISCELLANEOUS
Yangiato....
Alfed
"SIRDHANA" din
0.24 0.3%
rall Bth Oct,
"SANGOLA"
5th Oct.
xtils
dth Oct.
"FULTALA"
7th Oct. salls Bt Oct.
from Japan
,
Singapore
Unions at $1,005 are steady Stock Market
Singapore, Sept. 16.
"ORMARA”
"ORDIA"
"ORNA”
4300d
20#d
Brokers today quoted the fol- In the wharves section, Hong-lowing stock prices: kong Docks are higher
and
Opening Wharves, ex-bonus at $72, and Batu Lintang Hubber Co. Ltel. $1.53.
Petroleum Brokers Leish Bernoo Providents are steady.
Syndicate..................... that the rmness of Consolidated bellovo
Tin #meltem these shares is possibly due to Ord, the considerable Improvement in Fraser & Heave. Ltd. Ord. $1.78 the Colony's trade reported in Fraser & Neave Ltd. 75
eurņi, pref. August. The total value last. Hongkong & Shanghai Bank- month was $515.4 million
OT
$54.6 million higher than trade
Kempas Lid.
in Corp Aw Hongkong Tin Ltd.
$0.40
Sorb
$1.82 ed
Lainue Rubber Estates Lid. $2.40 Malayan Drewestes... New Berandah Rubber
itd. Petaling Tin Ltd. Raffles Holet
Bingapore Cold Storage South British Insurance Co,
$3.50
$1.00
$4.00
$2,35
$1.77
$21,00
$13.43
$10.00
$1,02
China Matt Special.
In the previous month.
Wheelocks are down 80 cents on the week because of profit- 14.12 taking. There has been heavy 98.258 trading in this share and almost
300 000 have changed hands 84.75
the last fortnight. The share Straits Trading
week but Streits Steamship rose to 910.70 lust
United Engincess Ord. 4000 slipped back to below $10 early Were Brow
this week before recovering to $10.19 yesterday, It cicaed 10 cents cheaper on the day, Yong-
aro tszos
down slightly in sympathy.
12.338
US PRODUCTION INDEX
Washington, Sept. 15. The Federal Reserve Board's Index of Industrias production for Aunist la 140, United Press
Uunities with the exception slightly of Yaumatis werd better on the week although the table below shows that most of bust them closed below their levels,
London Stock Market
London, Sept. 15. Stocks were mostly Irregular In quict trading on the London Cements show a good rise. Exchange today.
were gen“ G-edged Issues' They were as high ng $371⁄2 but Fielded some ground on proßterally firm, although loan 8 taking and they closed firm at per cent went up to £70% and 330% about their test price Treasury's 25% per cent fort s since the bonus issus earlier this point to Rus
mail with only 21 lots, Futures Exchange Rates ar
Sept
1011-106 1031-1049 103410516 104-1041
104-1041 10375-104.
filed Pressi
..
aup
due
for Singapore. Penang Rangoon & Calcutta from Calcutta, Penang & Straits for Japan
for Singapore, Rangoon
Chittagong
P. & Q./B. I. JOINT SERVICE
due 20th Sept. from Japan
HOMWAY, Karachi, Basrah, Klier ramshahr & Kuwait dus 23rd Sept. from Karachi & Bombay ail 24th Sept. for Japan due DIJ.Oct.
salit 21st Sept. for S'pore,
from Karachi & Bombay All 9th Oct. for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLOKE"
HLO 3rd Oct. from Australia 1dade 4th Ort. for Japan
fords 6/uth Get. for Sandakati, Brisbane,
Bydney, Melbourne Adelaide
All vessels have liberty to call at any ports on or off the route da the roule & salling are subject to change or amendment with or without notice.
"ARAFURA”.
For full particulars apply to:- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.
Be
MESSAGERIES MARITIMES JP.O. Box 53 ; · Queen's Building / Tel?" 26667) FAST PASSENGER/FREIGHT SERVICE
Industriale hesitate at tho' opening and closed, on malt "VIETNAM”
·Rubber sharbs are better, this gains in the gebion. Ford "CAMBODGE"
The raw material price Motors was strong, spurting dona in the local Wook,"
in Singapors is up from 47% three hung wxchange Market Imorning, st, the following catering to 1624 cents nib, Yesterday-olbsod dd higher.
Amalgamatedsold at $2.275 Electric skidded one shilling, 1998 dgalrist $2,15 That Thursday, whic Ambog forelint bond, Gorman "MEINAM
oficial
| 7.3. dolar, (per $1); gokks
Berling notes. (per. 41)
Austraian notes. (par)
indoneware table
Ham uests tren 100).
this
Courtaulda
Asociated
(per 100) 17165 Buyers were offering även for Young Boy Was A brit spot "PEIHO“
#4: Rubber Trusts kainat 30.18-1204 rising ELTA Joplin Irrtes fell
Aingapore (Hunits) ***
Indo-Citna plastime. (per 100)
bank,Unkind Prom.
Balling, Oct. 8th sailing Nov. 5th
FAST FREIGHT: SERVICE"
pusálling Sept. 21st Oct. 18th