THE CHINA MAIL, TUESDAY, OCTOBER 18, 1955.
TRADE and COMMERCE
AMERICAN ECONOMY
WORLD
COTTON MARKETS
New York, Oct. 17.
Cotton futures tonlay moved irregularly higher. after a faltering start
spasmodically
ings.
in
active deal.
Dividends Should Reach New
Record Levels
By John Morka
New York, Oct. 17.
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange this mor ing amounted to $275,000, Nuon and the morning's
The US boom appears to be showing quitations Bexdoing of straddle positian, up in corporate profits and dividends.
Beelving the Surfe of nearby
Dezember against prendre f fite nearby 1956 deliveries, du- murated the day's business.
Al the chase the list ruled 24 points higher in a pads lower, Opening price were in hanged
New Oricon loff 12 points. close uncharged points,
up
23
All indications are that forthcoming payments to shareholders will be the most generous on record this year. In addition, į corporate profits are well on their way toward establishing new records.
the Far East or Latin. i Ewa Inveloping These se the ments Annncial observers count» America,
Amerk an ertorationst Jure ann rates to bolster invester and intustrial confidence which
setting up new
sales foreign esthervat
has
shaken
New Orivan infire-6 com. merin hemises and jocal traders also were jezveled emisolididinat market patient following last bevame of the President's illness week's wide prices swing fede | Securities
Lost government į $14,000,000 in market valonins
lowing the
cang estimate
but t
good-sized rally in the near- by L'emprot deliveries entr
this mid-morning sizneldhur
Laver
epriai ory, frelers taut
pool o se: B
on
Monarwhat
example.
in the three-week period since
15
IM I
Noticeable
Eurobe. enenuntering
415
the test antioxrwerment 1 the, rising cempet Rion from equally aggressive firms, tits activity is Pre ent's Dart attack
big modiventajas Considering the vigour of the mukt
the US
two-telet budgets earmarked for overseas Fromuny,
edivertising. to 50 posts higher respect of big profits and big
According for Bushess Week, ¦ The old control, with Dew - ilevideb.
American advertisers spend Jan, howlog the
widest
Kan. Compree Locally,
Speculative in-
per cent of the 500 miden swat by both US and foreign vim- teresa continued to be Bampered
on advertising eutsitle by uncertainties relating to gov-
This new thelp gwn countries. ernment export policy on row cotton and future price supports
compet tron a bikely to push up 1 buletet. of American advertis Trading volune and opens in-
verseas, the widely rol tarest in the Exchange today
weekly snie. It commented Wee further A US manufacturer In Volume than interest
Leves the past would spend prometlun abroad than at home! in relation to sales because the
volume Now-overall
That meant Hitle
4.201
320,070
516.700
were:
Month
chel
Dec
Mai
4-4,700
May
50,000
July
SIL FOR
2tk 30%
(JM1
22.10
Dec
Mar
Toln
NEW YORK
11,200
118. ДАНА
$6,500
1,000 244,30 1.970,806) bales
Prices of futures closed today as follows
Sp
$3.
MILT
Mus
July
041
1
Mau
44 199 12.00
Broth
thevidende But earnings and are entisterist to have a strong inttuence on a great majority of Hivesteas
The United States word abwerke). The not- porate announcements will be an influential market factor having a strong bearing on the nation's ball bear paychology.
Final Quarter
2! 73-76: will
3130
30.M
transactions:
SHARES BUYERS SELLERS SALES
BANKS
NK Bank
INSURANCES
DOCKS, ETC K Whort
Duck Provident Old Wheelock
143097 170X
201690
$600
045
21 15
2017
10% 13.00
PD 1.40
LAND. ETO JK Hotel
BER
1
200 or 18.20
G
$1
RE
Humpres
www.
38 20
11
RIY
HUR
A Rubbe
Tru
230
UTILITIES
TRI Yauman Petry
XD
2420 2245,
12
I
123035
200 o 13!,
37
J1X $314
17
{" Light (1 2 350 % 22,00 Light (N) 17 to 17 9a 1900 w 17.80 Reetru
12 200 41,75 12 1000 11 70 30
Me
'F'anja pasandi
China Cotton"
Crop Claim
Tokyo. Got. 17. Chius... today boasted of a rich cotton crop In her noril-western province of Sinklang, autonomous re- glon bordering, the Soviet Union and Mongolia.
Radlo Peking sald the per hectare
haa sor- yield prasid tho targel - the target was not mentioned. It cald the agricultural pro- ducer co-operatives in Tur- fan county were expected to harvest an average of 877 kilogrammes of rinned oot- ton per hectare.
But mere, It added, units of the Red Chinese Army stationed in the region are harvesting as much as 916 kilogrammes of ginner cot- ner hectare.United
font
Press.
WORLD
RUBBER
PRICES
Singapore, Oct. 17.
Sellers were reserved in the rubber market today. However, there were more offers towards
the close. Future closings were:
Nu, 1 rubber per 16.
November
December
January
No. 2 rubber ver 1b, Nav, No. 3 rubber per ih. Nov. No rubber per ib. Nov. Spot rubber unbaled ... Blanket crepo No. 1 ale crepe
120-120
110-120 unquoted
118-118% 116-1173 110-111 120-120
131-132
I
NEW YORK Futures closed today 75 points higher to 20 points lower with saits of 247 contracts.
Tightness in
nearby Decem- contract dominated mixed terminal market trade, With an open position of over 600 contracts in December, plus
700 some
contracta March, and in view of the tight supply on
deliverable rubber, shorts continued to cover.
Elev
41
344
INDUSTRIALS
C'emant
30 600 0745
ber
STORES, ETC
Dury XD
18 20 20 3300 A 20
COTTONS
of
Textiles
610
MISCELLANEOUS
Altiri
أن
SECTION
A Page
Market
New York Market New York Sugar
Makes Recovery
New York, Oct. 17.
New York, Oct. 17, World No. 'supor futures closed unchanged to i point lower with no sales,
Domestic No. 1 sugar huures
Industrial shares featured a generally higher closed 2 points higher to 1 point and quiet stock market today.
tower with sales of 56 contracta.
In world raws, dealers under-
pound, fob.
Today marked the first Monday in four that atood The United Kingdom the market managed to overtone its "Monday bought a cargo of Cubans, Jan./ blues." The list dropped each Monday since Presi- Feb. hipment, at 3.22 cents a dent Eisenhower's illness-31.89 points in the in- dustrials on Sept. 17, and 10.92 points on Oct. 3; and 13.27 points on Oct. 10.
Market
the
Stokely-Van Comp
wifi & Co Studebaker-Packard Corp.
Texas Co.
Tide Water A, OR Twenty Century Fox Filiu Union Carbile Unita Pacifle
United Aircraft
U.S. Cyprun US. Line Co.
US Rubber
aitway
The industrial average cload Sterling Drug Co today with a gain of 1.45 to 440.13. At its high, at the end of the ist hour of dentings, the Industrial
of the component averages showed a rise of 3.04.
news was generally on the quiet vide, However, a number of favourable earnings reports being released time bolstered the list slightly.
The ist also made its best showing in the first hour, thanks opening block of 1,000 shares on Du Pont at 220, up 74 points. However, Du Pont fallo to helt this gain and it slacked off Inter in the session, It closed with loss of 1 points to $211.
to un
Other industrial shures niso turned soft later in the day, but they managed 10 close above Friday's final prices. A few Issues in the industrial group
than a
2nd Improvements ranging to more
point. Railroad shares finished a few cents lower as measured by the
averages. The session was the dullest in seven days, Sales totalled only 1,480,000 shares and this com pared with 1,400,000 shares last Friday.
Outside of Du Pont, most other chemicals finished virtually unchanged.
New York Foreign arousing any apparent interest.
without ly. Aircrafts and utilities were
Evening-up in the November
delivery between trude interesta
featured the small trade in the domestle contract. Futures:
Marel
Contract No. 4 (world)
103
MAY
311
July
201
Sept.
Un Spat-iegots per
, foh Cubal
150
Open Interunt;
1,238 continelu
BANS
2017
Contract No. 0
23
New 423%
19.04
41105
Mar
3,40
5432
Any
0,44
July
3.03
30%
Spot-cents per ib. cif NY
ex-duty).
4.00
48
Open Interest: 008 contracts,
-United Prem
-United PTORE.
U.S. Smelung US. Steel Warner Bros. Westinghouse Electrie West Va. Pulp & Paper Wootworth
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards "CARTHAGE"
"CHUSAN"
"CORFU"
"CANTON"
Leaves London Due langkont
Salted
Tort
20th October
14th November
12th December
9th November
Via Bouthampton, Pert Sald, Aden, Bombay, culombo,
Penang & Singapore Homewards Leaves Hongkong "CARTHAGE" 21st October
Bethlehem
in
Steet sparked 15 group with a gain of 1% points
61484.
a
Texas Co. highlighted in its spot market, dealers section. It rose 1% points In the offered Akron five sheels around $103. Motors rose only slight- 30 centy
A pound
Spot No. 1 Rss wero quoted
ut Humatually
424 cents pound. Futures;
to
up slightly.
"CHUSAN" "CORFU"
"CANTON"
Dec
Mam
11.03-42.00 30.30-40
$1 MI 13/32
May
38.05
2.60-203
July
39.00
(1190)
Sept.
33,30
Utd P
Do
34.30
LONDON
was quiet with
Exchange
During the first eight months *of 1855, Americans. Corporations advertiser.
foreign advertising would make record $5,584,100,000). paid out compared to payments totalling a big splash
፡፡ The Mar $5.170 000,000 during the same
2ome stagnzine noted *1
пии» foreign'
in Wall perial in 1934.
Street.
York takes on its New Entering into the final quarter, the appenrünce ngain of playing | there appears to be little doubt, the role of a world banker.
Noting the recent trend of US That .porate prots alter taxes
banks, investment push past the 21 million commercial
houses, mark uito new high ground.
houses, and brokerage
New York, Oct. 17. investment. Canda toward developing Concensus is that almost
the weekly shid;
England unoffietai will granges of companies
There is Bile or nothing to Belgians larger
payments this
resemble the 20's in the current, "Manufacturies" dividerals
go foreign furry In Wall Street. during the first
Enths There has
tre plenty Prices of futures closed today were
Average 7 ber gent Interest foreign securities, as follows:
above the ameter level. The
espertally British. What's be 473-76 ny lagg was in this group up-
hind this new muod? per to have been automobiles and textiles, all non-maquifurtur- ing industries shared in the rise, of dividend payments,
Sport
Mar
May
July
Der
Mar
Future
NEW ORLEANS
30
31 91
34 35
30 07
LIVERPOOL
closings.
American midehus, in pence per Br WIN
us follows:
Old contract
Urt./Nav
Dec/Jus
Mar/Apr May/June
July/Au
New contract
eight
النور
KE
"On the foreign sile." observes Business Week, "There
Win
Exchange Rates
Business was dene In the locat outtelal excluire market Tit mering at the following antes:-
h
Ha bein (1) the enstig of cold War tension, which has made! US dollar (per $11 the
risk look a lot more Sterling noten (per Industrial production is TAMA-
Australian nates (per 21 higher than
ecotemie up Indonesian rupiah (per 100) rimote; (2) the ing considerably Blast year. Bath consumers and surge in Western Furope, which Stem tendu (per 100)
has brought the lowrring of Segure (strutto) the spending industry are in nood, and have been during the exchange restrictions; and (3) Indo-China plastren (per 100).
the Earller tears of a third uarter.
eagerness of many under- countries to speer Blast-half
In US developed wrakening
their economic growth. activity appear to have been largely set askie at
30.00 27.86
economie
24 43
ils time.
May/June July/Aug.
24 34
It is felt that
20 24
SÃO PAULO Futures closings, in cruzeiros per kilo were us follows:
Der:
Mur.
Mary
Jelly
20.70 32,40 31.40 115.05
Orl
31 850
third-quarter :
New Activity
London,
the weekly
new
n on
ald,
stock
reports will compare favourably hasn't anything like the poten-! better than the first half record. tlal New York has for providing
Investment. The fourth quarter nisu promises private
Foreign A pro- visitors from Africa, Asia, to be an excellent one. Jection by Standard and Poors Europe and Latin Americes are
forecast that facial analysis,
now switching from London to only four groups were expected New York, the magazine noted.
report tower. profts, and This
betivity, it added, these are gold mining, machine "hinges
hevilthy Tools, shipbuilding and vegetable market in the United States.”
"If the market tuvas really now sour
few observers predict. much of the current flurry might soon lac observers more bubble, These say it has always been hard to securities in a declining market and European securities would textile be likely to suffer more."--
United Press.
In the US the average price oils. of 15/16 middling
u
I
designated spot markets was 33.14 cents. Sajes totalled 06,- 484 bales.-United Press,
London Stock
Market
London, Oct. 17. Stocks closed with moderate sprinkling of frae- tional gains on the London Exchange today.
and erased small early
Forecast
The earning outlook for 1955
forecasting increases of 10 per portations, rigs chemienis, ceal,
cent or more include: Air trans-
as
no
sell even high-grade Canadian
International
equipments. Rubber Talks
and
The market
spot quated at 35% pence per lb. Prices:
No. 1. Kas spot
35-331⁄2
Settlement house tern:
Muv. Dee.
347-3514
Jan. Mar Apr./June
3452-34*
331-34
3211-3311 319-32
5.77 July/Sept. 10.39
General markets, lif basis, potta: 12.23 Oct
3424-15
344-35
344-347 unquoted
14.70
1.B
Nov 34.70 Dec
Extole crepe nil,
6.50
United Pre
Cocoa May Head
Malay Industries
London, Oct. 17.
A new major industry which may in years to come replace the rubber and tin upon which Malaya's economy now rests took a big step to wards fulfilment this month.
Closing Prices
Alden Ine. Acy. Allied Chemicals All Chalmers.. American Airline American Cranamide Co. A. Macli.&F dry. American Metal American Smejting Am. Sugar Rel. Anmerican Tel & Ti American Tob "B" Anaconda Copper Armco Stect Armour
Baldwin-ma-Ham. Baltimore & Ol110
Bendix Aviation Corp. Benguet Conn.
Bethlehem Steel
Boeing Airplane- Borden (They Co Burroughs Add Machine Canadian Pacine R. Case (3.1) Co.
C. I. T. Financial Corp. Cal. Tractor
Celanese Corp.
Chase Manhat. Bask Chrysler Mutors Colgate-Palmolive Ca Commercial Credit Commonwealth Elec. Consolidated Edison Continental Oli of Dei. Curn Products Crane Co.
Crown Zellerbach Cuban Amer, Sugar Curtis Wright Diamond Alkali Dow Chemienia Dupont de Nemours
Eastman Kodak rie Radirond
El Paso National Gas
Family Finance Corp.
General Electric
General Foods General Motors Gen. Pub., Util,
Glidden Co.
Good (BF) Co. fenden Chemical
Goodyear Tire
Two giant chocolate firms joined with eastern Cute Safety Razor merchants and the Colonial Development Corpora- tion to acquire land for cocoa growing in the Federation of Malaya.
The
Hom take MUA CÓ Ingersoll-hand..... Inland Steel Co. Interchemical Corp.
Int7 Harvester International Nickel International Poper
new firm, United Cocoa comparable age that he had seen in Business Machines Development, is owned by Cad- the West Indies and West bury's, van Houten, Harrison and Africa. Crossfields and the Colonial Development Corporation.
It has a capital of £200,000. No
prospectus
has yet been Issued,
in the Federation.
to
Six years ago he headed a special mission Africa to select the Amelonada strains of cacon that, are now being tested.
For two For
years they were nurtured in the famous Kew Botanical Gardens in London.
In 1932 the first consignment went to
to Malaya. Mr A. H. Thompson, Malaya's senior plant pathologist, travelled carefully each
ach day during the
*
few pr
Int'l Tel. & Tel.
John-Manville Co, Kansas C. Power & Light Kennevott Conver Liggott Meyers Tob. Co. Lockheed Aircraft Loout Incorp. Lone Star Cement Co. Louisville Nashville H. Lowenstein & Sone. Mwab! Iron Coro. Minnesota Mining
Mission Developme Monsanto Chemical Co.
Montgomery Ward Motorola Inc.
copper, lead and zinc, rayon and Lectate yarn, steel, weavers, tyres and rubber goeds, shipping, and department stores.
Among those expected show increases up to 10 per cent; upparel, cigarettes, cigars, con- fectionery, dairy products, food grning, oll-well
retail apparel chains,
One of the men whose expert sand
goods.
advice is expected to be sought Monrovia, Oct. 17. by According to Financial World.
One hundred and twenty dete. the company is Mr O. J.
Veelcker,
whose foresight six Leading industrials attracted investment and business weekly,
Katca arrived here yesterday years ago when synthetic abber good interezi, Borax, Imperial the ten Issues which appear in for the 12th meeting of the made its first threat to Malaya Dunlops, and Unilever turned the best position at the moment in strong performances. Tobacco in terms of earnings and dividend International rubber study con- led to the introduction of cocos with the plants, lending them
ference opewing today.
National Cash Ren, "A" shares were bolstered by an- potentials;
American
American
Today Among the 14 nations attend-
this former Can;
Malayan long sea voyage.
National Dairy Prod. nouncement of an increase in
Ing are: The United Kingdom,
Within Director of Agriculture 19 hold- Chicle: Atchison, Topeka and
those National Distillers cigarette prices
Liberis, ing a
National Lead Germany, Johns- Colada,
watching brit Oils railed toward the close MI, Gluett, Peabody:
on the plants may have, grown into a National Steel Coro. pioneering of cocon In Malaya £20,000,000 industry producing | New York Contrai Kroger Co. Liggelte United States, and Japan, losses, Manvile:
Both the press and pubile willem a Vmall English village. 150,000 tons of cocoa a year and Olin Mathieson and Meyers; MacAndrews
Otis Meyplom ___-.. after from ression
ALL WATCHING Standard Brands and be barred
making Malaya Forbes;
Owen-llinois Glass the first day. A communique "We are all watching develop-world's major sources.
Pacino Gay & fec. Issues Sterling Drugs.
In the ofing-a possibility will be issued at the conclusionments in Malaya with great in- Already, the development of Pacific Western Oi continued to suffer from profit market men are also watching of sessies which are expected teist he
sald
technical know how," planting Paramount Platures
Shating Pan American Airways with losses ranging up to
"However, closely
I do not think and allied matters is progressing Parke Davis Co. ~ 18 the chance that to reach agreeir.ent on a fixed Coppers opened lower, but some of the stocks which have price for rubber-United Press that we can expect the industry steadily and communications in Penny . C. Co.
talled to take split action so for
to expand as rapidly as the the suitable areas are 'Improving. Penn. Salt Co.
Philip Murtig showed some strength toword the decide to split. Me
may
Mentioned
West Industry did in
The major task of United Philips Petroleum close. Fractional losses were
Airien where it made very impld Cocoa will be to reclaim virgin | Procter & Gamble Co. the rule. Gald shares also were in this connection are such well-
Pittburgh Plate Gloss planned laucs as: Bethlehem
progress."
Ithu from the foveals. weak and Anished lower when Steel, Du Pont, Allied Chemical;
"bellove that coron worthl Mr Voelcker estimates that Publieker Industries
Pure Ovanuškoni Continental demand
Hercules International Paper:
have to be approximately double albtle Malbyn'a cand 'coast, in the radio Corporation Standard Oil of NJĄ
the price of mabber for the states of Kelentan and Treng Republic Sicel Copper; up einecott
London, bel, 17, Union
industry to expand so play in gunu, host of the hundrels of Reynolds Metal 2703/18-2.70% Malaya and I don't see any pros. thousands
Shell Oil, Co. of acres of required 2.70-2.7014.
pect of that at the moment." 10.000-10.60
rich 130,38-13030 But I added that Melaye, be found owing land could 10.121-10.2
could prove to be one of the EN 10,000 TONS ZO 11.7311-11.713%. rs6000 10,15**
In those areas alone it is hoped major new, sources of conon for 1220S-13/2018therworld.
to get a yield of 10,000 tons of 704-10
It now had stocks of cocon ̧na} cocoa boons
each year healthy and vigorous as any of Mail Special,
A number of Issues
with net galas,
British Government
Anished
Inlled to
materialise.
German bonds chalked
.
London Foreign Exchange
New York
Amsterdam
Ruins of £% or better. Other Pacife; Zenith Radio: Nolin and Montrend fereign Issues moved narrowly in Hans quiet dealings,
US financlers and business-Presta Dollars were mostly higher men appear to be setting their furt and showed gains up to one sights more and more on invest- stockholm, dollar, although General Motorsment and, profit. opportunities Zurich fell back at the close,--Unitou abroad. Main target is booming Pross.
Europe. But no one is overlook-
Pola
Frited Prest.
one
the
saint, Beg, Paper Sinclair Oll
"Bocony. Vacuum
South Porto Rico Bugat Routhern National Gas
outhern Railway (Com)"
dard Brande
China
Blandare off of Cal. Blandard Oll of Ind.. Biandard Oil of N.J.
Dub London 21st November
2nd November
29th November
18th November
10th December
101 December 10th January
Via Bingapore, Penang, Colombo, Bombay, Adea, Port Bald & Lendor
FREIGHT SERVICE
"SHILLONG" lands 27th Oct.
"SUNDA"
"SOUDAN"
for S'pore, P. Swatten- ham, Penang, Colombo, Aden, Port Said, Genoa Marseilles, Havre, Lon- don, Antwerp, tostera dain & Hamburg
londs th Nov. for
dur 12th Nov. salis 14th Nov.
като porta EN "HHILLONG"
from UK. for Japan
With Uberty to call at Belawan before or after Stralta Porte and at lombay 1 inducement ofern.
Tanks available for carriage of Olt in Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
"SANGOLA"
"SANTHA”
"WAROBA”
sults 20th Oct.
for Singapore, Penang,
. Itangoon & Calenta
frum
due 6th Nov.
Calculta, Penang & Straita sts 8th Nov, for Yokohama. Nagoya
& Kobe
Kalls 11th Nov, for Singapore, Chit-
tagong langvon
P. & O./B. I. JOINT SERVICE
"OLINDA"
*ORDIA"
"OKHLA"
"ORNA"
due 25th Oct. from Karachi, Bombay & Coch salis 28th Oct.
sails 31st Oct.
for Japon
for Singapore Cochin.
BOMBAY
Khorram-
shahr & Kuwait
3rd Nov. from Karachi & Bombay
4th Nov. for Japan
10 walis londe ik Nov.
"OLINDA"
For Singapore, Colombo, Karach! Barrah. Khar- romahahr & Kuwait
Inad. 28th Nov. for Singapore,
BAY & Karachi
BOM-
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLOBE”
loads 6/7th Nov, for Sandakan, Rabaul, Urlobeno, Sydney, Mel- bourne & Adelaldo
All vessels have liberty to call at any poris on or off the route & the route & mailing 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.
F.O. Box 33
Queen's Building Tel: 26852
FAST PASSENGER/FREIGHT SERVICE
| “CAMBODGE"
"LAOS”.... "VIETNAM”
"INDUS" "MEKONG"
sailing Nov. th
sailing Dec. 3rd
sailing Dec. 81st
Balling Nov. 7th salling Dec. 9th.
FAST FREIGHT SERVICE ́