TRADE
THE CHINA MAIL, FRIDAY, JANUARY 20, 1956.
and
The Outlook In New Zealand BUSINESS ACTIVITY
HIGH OVER LAST HALF
Auckland, Jan. 19.
was more
TODAY'S SHARE PRICES
(From Our Correspondent)
Business done on the Hong- Business activity was maintained at
Stock kong
Exchange this of 1955. morning amounted to $360,000. high levels in the second half
Noon quotations and
the There
credit morning's transactions: evidence of
SHARES BUYERS SELLERS SALES stringency, but private imports, the main target for the restrictive monetary policy, remained high.
BANKS
NUANCES
Union Lombard DOCKS, ETC: K. Whart
Dock
Provident
In the four months ended October, they averaged nearly £N.Z. 21 million a month, which was slightly more than in the corresponding period of the previous LAND, HIS
fifth higher than could year and about 11
be covered by current earnings. Net oversea asset of the banking system deelined by nearly a quarter during the year ended October, to IN.Z. 76 million.
Pavhort' t primarily
T
ars
וי
ww lub
1
lk: ྃ『,
be liner with the transie between June mot Novrinaling
Withdraw.nor
was a 20hy beton
Leftrue
Try it wa
inter pape
para family
September quieter, and an in-
to
The Field 4%% 11 EVANT by a Governanent Town November dut not fulty meet
kad rates To similar an Local authorities conBnued to Experience difficulty The no
in obtain their requirements
Their harrowing tale Hammond in Detober
efit
41
cleszedbext nas but w11 Boss
tax payments in March other
stralis will FA
It prevent pipen the anl
mash tamen id
the bank
Tighter Credit
The tighten
retive teel in the
where storks
vheddis
17!
Wheelock
itx Land Пеніву
! RUBBER
.. 1785 1789 10 or 1700
COMMERCE
ANOTHER DULL WEEK ON THE SHARE MARKET
its
By A SPECIAL CORRESPONDENT. The captive pendulum swinging In ordained arc is no less monotonous than the share market has been in recent week.
Up and down, dull and listless. A dreary sameness characterises its movements and there is a repetitive quality in it that is enough to send the most diligent and sensitive observer to sleep. These ате two inhibiting The shares closed up 20 centa factors which prescribe
the
on the week to 3840 and unless limits of the are in which the someone apolls the fun by deny- market moves. There is a deing the latest story, they may inite shortage of funds avall- go higher. able for investment in the share 18.market--but not to the
000 #t
32% 33% 300
18.10 15.30 108
GOD & 3
extent
the
Slight Changes
125 @ 16k that the weekly turnovers sug- 500
gest. Applications for
Price changes this week have Hongkong and Far Eastern in- on the whole been stall. There
12
<0
1000
2000
840 | SELFIEN
vestment Co
L
1/7.10 17.45
100
1900# (2
DTOTO more.
there 14
A. Flubber 1.00
TOLITES
Tram
HILT FRIE
ין
134
3000 * 1 ANI
24.30 2415 800 Heath Ferry 105 107 400
L10i 3202.40 200 2
LIR INT Pete
Atene Electric
JORD
New
7 ho
Cement
INDUSTRUALS
ven
WIS
Hupe STORES, ETC
Dalry
Kyong Seng
Hong
By Comparison with rising market rates. of interssi, The Axed level. of overdraft rates benefies the peasingly attractive la Barlow CEN In this respect it
x Natio That New Zealan I is Taking full advant- vailabl monetary
Fr
|
Chan Fab Wan
1
k.
Paltar
the
Love makalecelt v
WORLD RUBBER MARKETS
Singapore, Jan 19
market
opener
The rubbery
bil
tended during the
day on short covering alch change
in sentiment
Future closhings were
No 1 rubber pes ab
f'el
Mea
Акн
Nu 7 rubbed in th
Na a rubber per le 1 "
Nu 4 mban ner the 14
Strubie, vana's cl
N
I polyg
15% OIN
144, 1141,
1.1.
TR-BM
126120
da muky an adjust-
merd in tatbit torting rates has
given
funde.
ר!!!
who could outalite The
yalein jess Incentive ia
new has
seek bankin
the banks' VILK
of distributing tuited funds all The more anirult,
Bargain Sales
the
avineni
Commercial
slower in the 1956 and Here
we helt
sair:
retaal Tra
hold.
retali bargains
industries arul.
('OTTONS
Textiles
Naayak
16,00
401, 7319) 1000 # 40%
438 439
仔仔
H 20
324, 334, VA
330 33
15
1*
bins
offer share A good dealLands,
Chain Reaction Needed
been good
support for and Docka, Electrics Youmatis, but apart from these sharen the market was feature-
why
year.
thriving on
this
SECTION
★ The Share Market
At A Glancé ★
ИК Ванк Lombard Union
Underwriters Union W'boat Wlock M'den IK Whart HK Dock Provident IIK Hodets HK LAM Humphreys HK Realty HK Trams Star Ferry Yaumatis
Deo '53 Jan B Jan 12 Jan 19 Nominal
0,400 steadɔ
24n +700
8.40 +200
$2
Up or
down
1736 1208
1780
1785
55
55b
53 1
57b
steady
ផនក
1990:
ปิย
5.86
0:0
9.4012
23,30
23.30
23.40b
8.40
8.30
8.20
70
Gab
10
G8h
29.00
8214
15.50 18.70
3244 15.20b
334 +500
15.10b ----100
17.80 17.00 0214 03 19.70 19.702 1.075 1.00
17.20
17.30 +-100
6%
19.70z
1.025h 24.40
8215 .500 201 steady
1.975 +50
18
105
22.30
100
16.80 17.10
1014
42
4234 4244
484 +81
3335
23
3214b
33 •HOUD
31
ST
8694
10.30
19.20
18.80
18.00
13.30
13,10
135
13.30 +390
Lane Crawford
34
36n
3034
254
Yangiare
0.00
6.55b 0.05
Allied
3.45
5.85
1.55
0.65 steady 5.45b-100
Textile Corp Nanyang
5.85
6.80
5.05b
7.85 7,90
1.851
Ch Lights (0) Ch Lights (1) Electri
IIK Telephone
G.I. Cement Dairy Farm
A.B. Watson
23.60 24.60
130
137n
103 104 22.80 22
24.30 100 135
+11 22.30 steady 10.70 +200
3014
500
+100
steady :
4b150
7.90s steady
New York Market
Drops A Notch
New York, Jan. 19.
Stocks slipped a notch when President
si Eisenhower failed to announce a clear-cut decision on his candidacy at his news con- ference today.
The other is the continued less. 100 dullness of the marktet which
Docks are still deterrent to B000020 must act
wider-scale investment. IL is hopes of a distribution from the 243 sald that Chinese investors like recent land sale and put on an→ 100 buying on a rising market (who uther 60 cents to close at $39. docm'17) and I think there is a They have been steady at good deal In the contention price for the last three days.
Lands have added another 50 made by some brokers that
of cents to close at $62 but they until there is evidence
demand, the market are still below their best levels sustained
of the will continue to remain by the
Yaumati made further head- doldum.
and tacked on another
And this week to close at $100. Electrics continue to shine in the to Notice that Hongkong people Utility group with a $1 rise
Electrics should be double no hesitation $434. to have
arc Dow about Investing in the new Ford China Lights which Flock that is being offered on the selling at 322.30, steady on the
taweek There American market.
Banks have eased slightly autheity and money to be made 500 $56 there-but not on the Hongkong after a gradual rise from $1780 week they market in its present condition last month. Last
closed at $1780. They lost $5 on for Blame the credit squeeze the dullness If you like. but Monday, slipped $20 on Tuesday to $1765 bust picked up $3 the think the market could be much
within netive суст
the next day and closed $10 above ilmlis of the preemil credit the week's low restrictions. Sustained demand, however, depends upon a chatri reaction and there seems to be the nothing to trigger it off at moment.
10.00 10.00 200 10 DG
171
MISCELLANEOUS
Yaatre Allied
งค
60 4
055 3.09 100
NY Cotton
Futures Rally
seem
птелге
WI
Unions Better
ore
Rubber shores
The two
The market, moving idly after yesterday's late shake-out, dip- pod alightly bul
trading con- linued at a slow pace. Commen- tators have attributed much of the recent hesitancy to incer- the President's con- tointy over didacy.
Over-the-counter trading new Ford shares dwindled from yesterday's pact with premhim over the infital offering price of US$64.50 around $3.
Closing Prices
Alden Inc. Acy,
Allied Chemicals
Allied Mills Inc.
Unions have added $5 to close at $995.
Apart from Docks, the Wharf Look at this week's markel section was quiet with both Turnover: $4.14 million. The Wharves and Providente slightly American Airline
American Cyanamide Co. previous wock il
$3.78 euster, WAY
Am. Mach▲ F dry, New York, Jan. 19. mlition. It s impossible to Hotels and Realties are slight-American Motai
American Selang Colton futures today draw any heartening conclusions ly better.
Am Burry Bof. the slight Increase in In the Utility section, Trans
American Tel & Tal staged a sharp raily when from
activity. Aut if it were up $5 suffered from pront-taking after
American Tob. "g" news of unexpectedly heavy ee $8 million--that would be
their recent rise and closed the Anacuda Copper
Armeo Siecl ฟ accounts became loan impoundings signalled | different.
week 10 Cents down and
Armiar second half of broadscale buying and The movements: 13 up, eight 30 cents below the week's high. Baklwin-Lima-i tam,
steady, seven down The pre- Telephones are 50 cents better Baltimore & Ohlo covering movement.
Bendix Aviation Corp. vious week: seven
four at $33. up, Closing rear the day's highs steady and seventeen down.
Benguet Cona, Cements and Lane Crawfords Bethlehem Steel 4 restrictions, combined | the flat show net gains of 25
About
the most interesting are steady but Watsons and Boeing Airplane tom imports, to 4 points. Opening prices were Aith competinaiti
fractionally Canadian Pacule R.
Case (J. 1. Co. affected prothetim in some New up 13 to 54 points. New Oricans development was the share offer Dairy Farme
of 125,000 $10 shares by Hong- better.
Cat. Tractor Zealavi
a, efored up 25 to 42 points.
Invest- kong and Far Eastern
are slightly Celanese Corp. of orders for New Blackentlige
Reviving activity in the texille
attracted caster following further ment Co Ltd which
falls Chase Manhat, Bank Chile Copper 30 In Your delivery was experienced. | market, plus reports of an im-orders exceeding $5 million in the Singapore raw materiai Chrysler Motors
Some conlematiọn of such proving demand for spot cotton,more than a week's turnover. prices.
Colgate-Palmolive Co. provider! and shipper covering against ex-
Гот All that
an investment
interesting Commercial Credit max!
Commonwenius Elec. NEW YORK
this week were Friday Consolidated Edison statistics for the por commitments, reportedly to company Fielding 6.30 per cent days Futures today closed unchanged September quarter. Those
ose the Far East, spurred the re-at $1 par
when the market moved up
Continental Steel to 25 points how with sales of showed a gevatei accumulation every which lifted the nearby
sharply under increased buying Corn Products contracts
Sterks than i
same months back to around the highs the
Level Of $11-$12
interest and Tuesday when Crane Co Dulnew
thes termiad quarter of the trevious year and made earlier this week.
prit-folding clipped cuban Amer. Sigar light-scale markets was nuteliest in equal; an overall merease of 6% in the
Opposition to an administra- Market observers believe the back many of the new gains. Curtis Weight of Taek
Bterest in the
[ spot value
stacks In twelve tion proposal to permit
Dockyards Diamond Alkali the share will probably find a level
The Shanghai
Dow Chemicals held this wee The small volume DI market
sale of surplus commodities at between $11-$12 its statistical
week meeting was
Dupont de Nemours the terminal markets was trade
Relat stocks 41 food and market levels, and a diminish-value is given as $10.39).
The Chairman, Mr B. T. Flana-
Eastman Kodak intru-dealer mostly
carlak were lower and those of ing volume
For a share yielding a steady selling. of hedge
said there was preclically Erie Railroad ..... gan
com-Family Finance Corp. switching optraliota, chictly
Furniture at furnishings only were contributory Influences on dividend this newcomer will be nothing to report.
General Electric but don't May/March art 305
in and 10 slightly higher, but in the other
pretty hard to beat, the upside.
pany's properties and assets
General Foods points
LOAN ENTRIES retail groups increases of 7-0%
r-Oeneral Motors look for much capital approcin-Shangha! were still under
Con- Gen. Pub. Uu No. Rss spul vere quoted al
were recorded.
quisition by the Military Producer kan entries for the tion after the initial rise. Futures:
The main virtue 40 cents per pound.
of wock ended January 13
Invest-trol Commission of the Chinese Gillette Safety Razor
Glidden Co. .... ment trusts is that they enable Government
the reached 444,804
greater Goodrich 13. F.) Co. pared with 202,985 bales in the investors-particularly smail in part of the company's liquid Goodyear Tire
Withdrawals vestors who would not other- week. Whe consumers' retali prico
anted to only 3,400 bales, their money over a number
wise be able to do so-to spreads were still blocked by the Herden Chemical Trutex remained
of stable in the leaving the net stock of
1955 different companies at the one The market was steady with † September quarter.
Slight in crop cotton in government time. Thus, for it 83 1/10 pence KIN
example, ti per lb.
Cressus in the import component hands at 0,009,889 bales. of the wholesale price index byen Buyera particularly emplusised. Lights, Electrics, Trams, Lands, this company holds shares in tween Jumanry and July were the loan report since a recent
Humphreys,
Island Green offset by reductions In locally hopression in the trade was that Cement, Hongkong und Shang- pretfuced items.
the rise in open market prices
hot Banks, HK Wharves and These indications of restraint would tend to cut down entries Unions, a slight fall in the price were not, however, reflected in and increase repossessions, figures for notified employment
NEW YORK vacancies, which remained steady
Mai
Mu
July
Seet
Dev
E
LONDON
Set Dement house
Feb.....
Mnr.
Apri/iune
July/Sept
4010
31.00
30 70
3340 34.20
Prices:
No. 1 Ray Spot.
terus:
33-33
327-13 326-321 321-32% 07-31 2011-293-
J234-37
30
30
was
General markets, cit basis, ports:
Jan.
Feb.
Estale crepe Feb, thin
thick AMSTERDAM
market
Retail Prices Stable
The strady. Prices closed today in ****
kilogram, guilders February as follows:
per
No. 1 rubber
No. 2 rubber
No.
3 rubber
No. crepe
clf
December March May
bales
com-
35.450 34.05
3303
32.91-64
30.00 30.48
30.50 30.38
Prices of futures closed today In the winter months. But some in cents per lb. as follows; easing in demand for labour has Spot quietly been reported, and competition Mar amongst employers in November July for youths leaving school ap- Oelober peared to be less intense than In 1954. 3.3 blyers
30,30 3,33 buyer Thus with oversea
reserves July
NEW ORLEANS 333pproaching their seasonal low
Prices of futures closed today tovel, the effect of tight monet-
as follows: Bry policy had become
more spot
34.25 generally apparent. The export Arch
34.01 33.31-37 season now provides a breathing May
22.59-00 Брасо for rebuilding oversen July
October
30,87 December Free market prices for meat March
United PreOS.
New York Foreign| Exchange
reserves.
on
July
LIVERPOOL
30.47
301
3:032
Treasury,
and
The
New York Sugar Market
New York, Jan. 19. World No 4 sugar futurer
Crown Zellerbach
Homatake Minisg Cos Ingersoll-Rond
and Steel Co.. Int'l Business Machines ini'i Harvester International Nickel International Paper Int'l Tal & Tal John-Manville Co. Копия с Роwer Light Kannecolt Copper Lockheed Aircraft Loews Incorp...... Lone Star Cement Co. 1 Lowenstein & Sons.
Mesabi Kron Corp, Minnesota Mining Mission Development Montgomery Ward Motorola Inc. National Cash Reg. National Dairy Prod, National Distiliers Frices turned irregular after National Lead early buoyancy in the domestic New York Central contract when gains ranged up on mevalora
Olin Mathieson to four points on the spot de-Ouen-linois Cla
Pacific Gas & Elec.
Domestic No. 6 sugar futures closed i point higher to 2 points lower with rates of
337 con- tracts.
of the share of one company closed today unchanged to should not affect the investment
lower with sales of 224 trust shore price at all-and the contracts.
point
chances are that any fails will be partly or wholly offset by a rise in one or more of the other shares.
This is the third investment tho company to be listed oti Stock Exchange Allied and Yangtsze being the others.
A Gamble
For, a man with $10,000 to invest they may be quite a good -and certainly rafobuy. But 1 had $10,000. I think
would prefer to spread the
money myself in Wheclocks and Banks
Buying ivas coupled with the Pacific Western Oil.
Pan American Airways Armer raw altuation and re- | Paramount Pictures Ne porls of
contra-reasonably Parke Day Co. good demand for refined
in Petin. Salt Co. Philo, Morris- Face .of low, stocks being Philips Petroleum
Pilusburgh Plate Glass carried by distributor.
Publicker Industries It is undemlood that
about Pure Glas 350,000 tons of Cubin sugars | Radio Corporation Let's face it: share buying for hitve been sold to consuming Republie Steel most people is a gamble, as well countries against the Cubends Meta
Bakit Reg. Piper as an Investment, And most world quoti.
Cluber
Sinclair. BIL indicated Socory Vacuum capital appreciatio as the Philippine nigar coming to this Souporn National dividend, And in many cases market in Fetxuary may be outhery Raliway 28.15 captial
appreciation his
Cratibbut
expected.
Futume:
2.80-9/10 prescit Indications, current ex- Fatura clokings, in pence per
New York, Jan. 10. and dairy produce Auctuated May $2.00-10/10 widely last season, but, England ogfal
unofficial
261-2.03 30-day Futures DO-day
270-14/18 port proceeds promise nt futures
least to
1b, were as follows: Australia
2247%
equal Tast season's
returns. Old contract 2.00 Now Zealand
Mar/Apr. Flocks and herds have increased 201-0/10. South Africa
and, although wool prices in July/Aug May/JuZIN 2100 India
2011
early sales this season were United Press,
down, meat and dairy products were finding a good market.
Pakistan
London Foreign Exchange
Now, Tork
Montreal Amatertan Brussels Frankfurt
London Jan.
2.00
1001
Restraint
Now contract
May/Ju July/Aug. Oct/Nov.
| Egyptian_Karmak
£1,00
2340
41.10
SAO PAULO Future closings in, cruzeiros
In this period the progressive për kilo were as follows: „l effect of credit restraint dis (1955, 30 Marchi should achieve the desired/km2 provement in New Zealand's
overtea balance. In the interests
Juf
in the
the
of the efficient L ́Ideal produkór caro will be necessary to ensure 18/18
that the policy is not carried too Car - Augusala and
Zooland Bank Survey/
New,
people buy as much for the
priority:
Making # timid tuppened, I'in atrekt, is not my eng, of ten.
mi
|: In the dull trading conditions of this week, it was Inevitable that someone would try to inject sp
ife into groceedings. And sure enough they did. mawy crop por rumours, haver started about Wheslock
They are? ruco
|mention *nal (this.
Apoi
röporta
half of
the
volumo
chek No. 4. (world).
Standard Brands Hlanderd
Standard OU
Standard
Sterling Darsor
21
Ira
P
London Stock Markets Still Dull
London, Jan. 19. Stock trading continued dull and mixed here today as Prime Minister: Eden's overnight speech failed to stimulato much movement either way.
bo inclined to Prices were
the easier and trading WGS slowest, with the exception of the Christmas holidays, in about four months.
Dritish governnist long and medtuin-term bonds were off
to
There was fair demand for the new Ford Motor stock and the price declined in line with New York. It closed at a price equal to $88.78 per share, compared with $69.40 yesterday. ire an in- Royal Dutch 2
active oil group. Coppers and other metals were slightly lower. Gold shares were the bright Orange Free spot today with State Issues
win
racing a late up-
Japanese issues were in good demand and showed gains from £% to 14%. German Dawes, however, dropped £1 and Young Loons £United Press.
Exchange Rates
Business
was done in the local uneficial exchange
this market inorning at the following rates: U.S. dollar (per 1) Sterling notes (per 21) Australian notes (por 21) Indonesian rupiah (per Slan tical (per 100) Singapore (Strails)
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. Co.
PASSENGER/FREIGHT SERVICE
180
Outwards "CORFU"
"CANTON"
"CARTHAGE”
Leave London Sailed
1st February
29th February
13th March
true Weʊgkong
ein February 4th March And onl
13th Apri
"CHUSAN”
Via Southampton, Port Said, Aden, Bombay, Colombo,
Penset & Singapore
Leaves Hongkong Dus London
30th January
10th February
27th FebruRTY
12th March
Homewards *"CHUSAN”
"CORFU"
"CANTON"
"CARTHAGE"
5th March
9th April
6th April
7th
Mary
AGE.
Port Said London
* Alto Calle Marutilles.
Via Singapore, Penang, Colombo, nomDKY,
FREIGHT SERVICE
"BUNAT"
"BURAT"
due 3rd Feb. sails 6th Feb.
from UK. for Japan Joads 27th Feb. for S'pore, F. Swellen- hot, Penang. Aden, Port Said, Marseilles, London, Flamburg. Rot- terdam & Antwerp
With ubery to call at Belewan before or after Strafta Parts and at Bombay if inducement offers. Tanks available for carriage of Ofl in Balk, Space for refrigerated cargo. Limited Passenger Recommodation
BRITISH INDIA S.N. CO., LTD.
1850 -- A HUNDRED YEARS OF SERVICE ---- 1936
5th Feb. "SIRDHANA” dur
from Calcutir, Rangoon & Straile "SANTHIA" All Bth Feb.
"ORMARA”
"ITAURA"
for Singapore, Peosng & Calcutta
Calcutts
spils 13th Feb. for Singapore, Penang. Rangoon. Chlitagong
P. & 0./2, 1, JOINT SERVICE
loads 20th Jan for Singapore, Colombe,
Karachi, Basrah, Khor. ramshahr & Kuwait 'loads 2nd Teb. for S'pore. BOMBAT, Blisynager, Karachi, Поста
Khorramshahr
"ORNA"
date fath Feb. malio 17il Feb. aatte 131 Mar.
& Kuwalt
from Bombay
for Japan
for Bingapore, Madri
DOMBAT Colombo.
Kazagli
EASTERN & AUSTRALIAN 5.5, CO., LTD.
"NELLORE"
das 4 Feb.: from Australia
mális Otha Web, fom Japan
duo of Feb. from Japanj 'mails 7th Pub, - £ze Bandaicus, RAHAUL Brisbane | Bydney,: MA bourne di Adelaide
All vessels have liberty to call at my paría in or on, the route'de the roulé de sailing' are subject to change or amendment with or without neššok.
For folly 2 Mentors apply t MACKINNON, MACKENZIE & CO.
AE HONG KONG LIÐ
To bei bom Nux 27721 4.