-
Page
TRADE
THE CHINA MAIL, FRIDAY, FEBRUARY 10,-, 1956.
and
COMMERCE SECTION
Page
MARKET ON THE UP & UP NY COTTON US Agriculture Dept
TURNOVER EXCEEDS $6 MILLION
ICE HOUSE STREET
IN BULLISH MOOD
By A Special Correspondent
brokers
were
rather
Ice House Street surprised to see the share market continue to rise this week despite the approach of Chinese New Year.
With the credit restrictions still in force, brokers had expected trading to slacken off before the holidays. Traditionally it is the time when Chinese people pay off debts so that they can make a fresh start in the new year.
there coudz!
25018
Can
better ild year il va aoke ant gold
14"
are only $1.30 below last year's prosperity | peak price and Team $1 20 below vestr of the jits penk.
So perhaps Banks and Unions both show STAROS investors Ang tst geod rise's 11
Banks
teer reti ulous about their debts at this time and are hepang fi jar perity in the com mig me ndb-
deume bankers regiet
Inolary
412 V
thard "Lady Condition
Investment of Chinese
New Year bonte es
MAN
wird.
pitem to have soaken off meeti
sluggishness and show a rise of $25 on the week to $1775 while Cats are $15 better at $1005 buyers there was a sale at this arice earlier in the week)
Tring Waterbont
are up 60
Latesttress. to the market jernts on a buyers' bid of $25 10 after the holidays. Backers are Hugely because of early expecting further
maprovement | seriji
in Mauch wer Apill wher The
dividend sease is at its height Wharf Shares Higher
at there are hopes that die! market will get a further flbp, with tr reinvestiment dividemt money
111
So it may be a very prosqe ous new year for some prospect materialises
Turnover Up
★ The Share Market At
HK Dock Provident
Butelk
HK Land Humphreys
IK Rcally
24.30
سمجھ
20
19.70n
1975n 26.40
Glance ⭑
Up or
down
+$20
+-500
MARKET FLUCTUATES
New York, Feb. 9. Cotton futures today bobbed up and down over
a range of more than $1 a bale while traders awaited decisive nows on legislation.
farm
Opening prices were up 10 to
Orleans points. Now closed up 19 to off 3 points.
Pending knowledge on out-
como of the Senate Agriculture Committee vote for restora
Van 12
Jan 19
IIK Bank
1790
1766
Jan 26 1750
Feb 2
1750
Feb 9 1775
Lombard
57
57b
57
50b
08120
Union
100
995
093
9900
10056
+$18
Underwriters
9.4011
9.4022
9.40n
0.401
0.20m
avan 20x
Union Wheal
23.406
240
201
2434b
25.10b
+000
Wheelock
8.20
8.40
8.40
6.65
8.90
+250
HK Whart
70
68b
70
70160
7in
+500
324%
3214
381/
326
3334
+800
At the close the list ruled 24 points higher to 9 points lower.
15.20b
16.10b
17.20
12.20
15.20 17.200
15.20b
1812
+300
17.40
18.10
+100
off 10
02
04
19.30n
20%
GX 19.70n
64
20%
steady
1.8200
1.975
2.05
1.60bxa
steady
HK Tra
2440
25
25.10
+100
Star Ferry
187
135
133b
1406
143
+81
Yaumatis
105
100
103b
105
100
+$1
Ch Lights (4)
22.30
22.30
22.30
23
21.70
~300
2015
10.70
10.40
18.60
18.40
200
424
42
43%
434
44%
+350
8214b
Ja
33
331
339
8434
+#1
364
364
304
374
39
18.80
16.90
18.70
18.60
18.00
+-200
13b
13.30
13.10
12.80
12.75m
33
3034
343; b
35n
JBYS
Be steady
4.65
6.65
6.656
0.80b
6.00b
+100
1.55
5.456
5.306
5.50b
6.50
steady
11.00
11.50
11.50
steady
1.65b
50
5346
6.60
5.00%
steady
7.85#
7.00%
7.80%
7.80n
7.00D
-200
Ch Lights (n} Electric
HIK Telephone
6.1. Cement Dairy Farm
A.S. Watson
Lane Crawford Yangtze
Allied
HK & FE Inv Textile Corp Nanyang
WORLD RUBBER
Slight Rally
New
MARKETS In
Following but week's news of t sifa further increase in trady
January, all the wharf and dock stores are up Whuurves have rtsen 50 cents and were quoted
terday at $71 nominat Tocks!
50 cents beller D Pruvklents have climbedd op 30 cents to $15.50 Jimm Hongkong land is $1 better 56 58,
S04 bra! apart from Hotel, 29 shares other
Krone shares are Bigown in the alpormang
sdeadly Humphreys arouneed three contracts. 18 were higher, six were steady. J11 unchanged $140
old 1 ang Bye were lower „compared phases and 70 evit, en the new with the previous Thursday's ones.
This week the turnover
I
$5 24 million 10 million OF
S
un-
New York, Feb. 9. The No. 1 Ras Rubber $33futures today closed
changed to 16 points lower with sales of 59 contracts. The Standard contract closed 5 to 16 punts tower with sales of And hating the holidays here
at
a
Watsons have Dur sightly Dividend speculation was one tort artistes thes work rising of the win reasons for the in- quite suddenly to $13 and then creased furnover But demand, dropping back to lo seemed better all-round and the mud price of $12 75 Brokers vists were fairly evenly spread. 1 spoke lu yesterday could offer
The most active thares were no explanaiton for this Wherlock. Cements, Lights,ment.
anal Hotels
Rakl in Singapore curly ex} week, trading in the local mar
et tuurned to the slow side lo- day while dealers awaited new ric velopments.
In the apot market, dealers TV- reported an equally slow situo- Falt-weights of shipmeti
York
Opposes Textile Imports Cut
Washington, Feb. 9.
The Agriculture Department today strongly opposed a Congressional drive to curb imports of cotton textiles.
It also opposed legislation to relax planting restrictions on cotton growers and to force the government to unload large quantities of its surplus cotton on the world market.
RUCTIN-
The department's views were, "difficult" to operate a tion of 90 per cent of parity outlined before a House Agrleul-ful sales programme. supports, expected after the Ture sub-committee by Assistant In opposing import quotas on close uf
The cotton the market, tradert Secretary Earl L. Bulz.
textiles, Mr Butz cald moved cautiously.
sub-committee is considering a
В That department Investiga- bill designed to on "just Eisenhower's ex-e-package
completed" showed President
that Amerienn farmers aren't Objectives.
being hurt by the workt
trade In cotton textiles.
prussed
of selling accomplish all three opposition
Domestic Price orders, sent prices down more than $1 a bale at the start.
Subsequent
5היה
The investigation was under. The measure hus the support buying opinion and covering.
traders of a powerful coulliion of Con- taken at the request of the cot-
the from
textile southern ton
Industry which believed, reflected a developing | Kressmeni opinion
administration cotton thu
sintes
the and from New urged usc ví
**scap might accept
texlile production clause" in larlit agreements to England the high price
restrict imports of cellen goods. order In
to clause support
"We found no indication that nchieve other features
Mr Butz said that the depart- of the
were
sub- ment
reducing "soll bank" plan.
Intends to take "what-imports mens ever step may be nteessary" lo stantially the amount of cotton
American cotton inake
more being processed in the United Nearby Murch contracts con competitive In The world Slates," he said.
show independent market.
Trade covering He said the
tinued
NEARBY MARCH
steadiness.
operations and a further de-ready
department al-
has sold for export at
Healthy Industry
crease in the certificated stock prices averaging eight cents a Investigation "Indicated enabled the spot month to pound below the domestic | healthy industry,” he said, and reach 33.35 cents a pound, a price-more than 600,000 balta | domestic mili consumption now high since Feb. Il fast year. of the 1,000,000 bales recently during the last five months of The certifleated stock totalled offered at competitive prices. 1938 running six per cent ahead 10,706 bales, down 600 bules To make export soles man of the same perlod A year from the previous posting And datory, he said, might make it earlier. -United ProS, 43 drop of almost 7,000 boles
past
month. Producer loan Impoundings Wow endert Feb. 3 Lotalled 126.688 bules while re-
Th
net stecks of 1953 crop col Ion in government hands last count tofulled 6,602,887 bales.
over the New York, Feb. 9. Prices on the stock exchange rallied for the slightly early after showing losses ranging passessions rose to 32,330 bales. to more than a point at the opening. Trad- ing was moderately active.
All departments joined in the modest recovery.
At the end of the first hour of trading, de- clines were mostly in the frac- ilonal zone, A handful of issues showed much wider losses,
The early sell-off was an ex-
Trams. Elevtries. Dairy Forms 1 Dairy Farms gained 20 cents | rubber were in, bay at prices tension of yesterday's sharp de
this work with the all-round above a workable basis. Offer-cline which came on the heels Cements show a rise of $14 | Increase in activity
dings of three and four ambers
browns aur
to a new Pigh. Hanguly, 1 under-
strist.
As
on dividend speculation
anel
of President Eisenhower's late- Indonesia ment that he fruni
becomics more With fractional toovements while Saigon offered one and two tired than he did before his
Setter cleanrdeznek.
elther
WHY to the price of rub- er in Singapore rubber shares have enserl slightly. 1220132
a last week, the talk a that the company has mande poilt of a $5 the year.
for
Most brokers Think Htt the
company will pay between $350 !
Market Holidays
ht $4. part dividend, port This brings me to the end of İzon45. They paid S4 lust vera mee kutish week. It won
on 600,000 shares which absorbs hardly fair to expect och $2,400,000
million brost.
к
ut the te
shreds
Lotally spot No. 1 Rss quoted nordly at 39 cents a pound Futures.
Contract (old) No. 1 Res Mareh
18.43
May July
30 co
34.05
Is
Sepi. Does
34.00
33 33
EXTI
Contract (new) standard
Morch
30.85
MOY
34.10
July
34,50
54
to $3 million the market will be
Sept
33.40
Doc
33.00
March
31.70
much $3.53 next week seeing that there This year they only day's tending. TRADIC
Monday unct will be paying a distribution on
Tuesday, a half 900,000 Shares (having made a day's in Wednesday and Thurs.
for two
Domus issue
hay's. Tust
If the turnover amounts year) which means that dividend-banyu would absorb | doing very well. $3.8 million of the $5 proßt. Taxation will albar be higher and this leads brukers to believe that a $4 pay-out at the best investors can expect.
million
Wheelocks Rise
Wheelocks are up 25 cents to $8.90 fargely on market rumIQUEN that the company will soon an- nounce the sole of “a substantial part" of the company's holding in Dominion Insurance Company Lid a large proft.
week
that
be
1 saw Mr Marden last and he told $110 negotiations were still proceed- ing but shareholders would informed as soon as there wis any new to report.
Hotel shares climbed 20 cents yesterday to close the week 70
SI#:0. cents better He arrival
executive
Mr of
The
J. W. Houser!
President Vice Hilton Hotel International Inc. yesterday fmet by Mr Horace Kadoorie, Chairman of Hong-
kong and Shanghai Hotels Ltd) created some interest and touched off what ono broker described on "unfounded spccu- Intion".
But since the magle word "Hilton" made many Japanese hotel share prices tremble with excited anticipation during Mr Houser's visit there recently. I is not surprising that the same thing has happened here. Rather uptly, the China Mafi yesterday described his visit to the Colony as 4 "site-seeing" tour.
Speculation on Hotel's distri- bution this year was partly responsible for the rise earlier in the week.
Blue Chips Gain
The China Light speculation fizzled out this week-as many brokers expected and the ahares, dropped back, old losing 30 cents and new losing 20 CETS.
Apart from Lights, all tho Blue Chips were solidly botter. Trams show a ton conta riso on the work to $25.10. Both ferry companies are up-Stars by $3 to #148 and Yaumati by $1. Electrics show a vian of 15 cents on the week and Telophones hava' gained 31.
TODAY'S SHARE PRICES
(From Our Correspondent)
Business done on the Hong-
SINGAPORE
heart attack. Some traders in terpreted this as a hint that the President would not run for a
second tenn.
The list opened active with a number of large blocks ap- pearing on the tape. Once this accumulation of selling orders wag out of the way, trading Turned quiet. Automotive and rl shares were active at the
Closing Prices
Alden Inc. Acy,
Allted Chetnicăia
Alled Mills Inc.
closings
The market was uncertain in
Future
the afternoon.
were:
No rubber рет
February
March
April
טן
No. 2 rubber per lb. Feb. No. 3 rubber per lb. Feb No. 4 rubber per ib. Feb.
Spol rubber unbaled Blanket crepe.. No. 1 pale crepe
LONDON
1075-107 16
Adis Chalmers
American Airline
American Cyanamide Co. Am. Mach. & Fóry American Metal.. American Smelting
Tel.
100%-100% Am. Sugar Ret. unquoted 196-1001 10545-200 102-103 107%-100% 90-00 118-119
American Tel. American Tub. "B"
Anaconda Copper
The market was duil with spot
kong Stock Exchange the month quoted at 32 pence per ib. Prices: ing amounted to $1,000,000.
No. 1 Respot..
Noon quotations and the morn-settlement house term: ing's transactions:
SHARES BUYERS SELLERS BALES BANKS
HK Bank INSURANCES
Unions Lombard
DOCKS, ETC.
K. Whart
Dock
Provident
(Old)
WheBlock LAND, ETC.
IIK Hotel Ink Land (Old)
(New) Humphreys
Imo 1790
1005
70
March April
April/June Juty/September
February
March April
... A-3235
Armco Stee! Armour
Baldwin-Lima-ilam.
Baltimore & Ohio
Bendix Aviation Corp. Benguet Cons
Bethlehem Stepl
Burroughs Add Machine
Boeing Airplane
Borden (The) Co.
Canadian Pacific R.
Came (J. L.) Co.
315-31. 1. 2. Financial Corp. 51-311
2014-203,
October/December 40 @ 1700
General markets, cif basia, porta:
DO 2010
1333.76 100 @ 23.60
16.00 1800 @ 15.00
2000 101
31-311
unquoted
AMSTERDAMI
The market was steady. Prices
6.80 0.00 500000 closed today in guilders per kilo-
4400
gram, cif February es follows:
10 10.10
No. 1 rubber
64 200 #63.50
No. 2 rubber
No. 3 rubber
2000 93.50
No. 1 orde
20
.... 011
10.00
(Qld) (New) Realty X All 160 1,0251⁄2
Rs. 1000 83€ 2000 A 1,000 RUBBER
"Rubber 1.76 1.80 Trust....... 2.40 2.30
UTILITIES
*Tran ....... 20.0D
141
Star Ferry. Y'an Forry 100 101 C. Light (C) 22:00 22.80
C. Light (N) 1B1% 10000 10,40
1500 6 10,40
500
105
Electrio
40442
(0)
Ancio Electric
(New) delaptome INDUSTRIALS
Coment
Tope... STONES, ETC.
Dairy
3,02 buysen
3.00 buyers
2.90 buyer
3.35 buyers United Press.
London Foreign
Exchange
New York
Montreal Amsterdam
Brusenin
Frankfurt
- Milan
Paris
Stockholm
34.70 Zurich
33 550
391% 30% 4000 ja 30.
500 + 39
35
18.30 10.00 500
Waleare
250.00 La Crawford 33 COTTONS
TexWo
MISCELLANEOUS
I suppose it would not hurt to 11. zoention that Rivotries at $6412
5.01
то
7,0000 8.30
15.30
London, Teb. 9.
280-0/17-2.50-11/18 3.80-5/15-4.80-7/10 10.811-10.4136
11.73-117A 178236-375314 DES??003 14630*14kas 12345|-12243A
United Prem.
Others were unchanged
SINGAPORE HOLIDAYS
Singapore, Feb. 6.
All Singapore marksis will be closed on Monday, February 18, and Tuesday, February 14, for the Chinese lunar New Year.
Cat. Tractor
Celanese Corp. Chase Manhat, Bank
Chrysler Motors Colgate-Palmolive Co. Commercial Credit Commonwealth Elec, Consolidated Edison Continental Oll of Dež. Crane Co
Crown Zellerbech Cuban Amer. Bugar Diamond Alitali Dow Chemicals Dupont de Nemoure
Eastman Kodak
El Paso National Gas
Eric Railroad...
# 2136
100
Parke Davis Co. Penny J. C. co.
Penn. Salt Co.
Philip Morris
Procter & Gamble Co. Faburgh Plate Glam
|
Publieker Industries Pure Oll
iladio Corporation Republic Steel Reynolds Metal
Shell Oil Co
Salot Reg. Paper
Binclair Oil xd
Socony Vacuum Bouth Porto Rico Sugar Southem National Gar Southern Railway (Com.) Standard Branda xd
standard oil of Cal
Standard Oil of Ind. Standard Öll at NJ Sterling Drug Co,
Texas Co.
40
March
October
March
43% May
42
01
Volume Open interest
25,300 231,500 36,400
#74,700
NEW YORK
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards
"CANTON"
"CARTHAGE”
"CHUSAN" "CORFU"
Leaves London
Salted
Due Hongkong
11h March
2nd April
29th
February
18th March
13th Apri!
- 27th March
10th Apri
Via Southampton, Port Bald. Aden, Bombay, Colotubo,
Penang & Singapore
Leaver Dongkong
9th March
Volume 4211
and oppe Interest
95%
were as follows:
Month
44%
00
MAY
709%
July
20,100 275,000
16,800 232,600
December
20,000 200,300
3,000
76,009
3,000
12,000
47
July
1,000
12,800
0:0
Total
133,400 1847,700 bales
4136
071
2015
Prices of futures closed today
as follows:
101
Spot
30.10
41%
MATCH
35.42
May
34.00
BOLL
July
33.81
1036
October
13.03-00
4316
December
31.76
Stokely-Van Camp.
ED
March
31.02
|
Studebaker-Packerd Corp Swift*&_CD,
Di
May
474%
July
31.29-33 30.89
1191
Tide Water Assn. O Twenty Century Fox Film Union Carbide
3414
243
Union Pacific Railway
175
as follows:
33,00
0736
35.40
231
May
34.84-19
01
July
5776
October
31.03
31.38
B172
31.02
21
May
31.28
5811
July
30,80
1434
LIVERPOOL
481
Closings, in
pence per
lb.
were as follows! Old contract
20.09
24,09
"SUBAT"
"SURAT"
21.89
29.70
20.00
26.30
40.60
United Aircraft
US. Gypsum
U. S. Line Co.
US. Rubber
US. Smelling
1,8. Steel
Warner Bros. Westinghouse Electric Wes! Va. Pulp & l'aper Woolworth
2042
United Press.
London Stocks
Drift Lower
NEW ORLEANS
Prices of futures closed today
December
March
Mar/Apr May/June
July/Aug.
New contruct
May/June July/Aug.
Oct/Nov. Deo/Jan
Egyptian Karnak
Mar/Apr.
United Press.
In Quiet Day New York Sugar
London, Feb. 9.
Stocks drifted lower in
43%
quist trading on the Lon-
4755b
18 don Exchange today..
731%
41
Market
New York, Feb. D.
2
World No. 4 sugar futures New wage demands and Wall closed today unchanged to Street's poor showing yesterday points higher with sales of 44
4 | combined with teams of gover- ment anti-infiction measures to dampen trader sentiment.
Gold shares moved against tho the tide and finished on
Tr Arm side after a flurry of By profi-taking in mid-session,
Industrials
were off around one shilling or more, although Borax Consolidated and Wool- worth were 'bright spots In their sections,
21
Family Finance Corp.
24
General Electric
General Foods
General Motors
Gen. Pub. UUL Glidden Co. Goodrich (B. ) Co. Goodyear Tire xa, î Heyden Chemical xd, Homatako Mining Co. Ingersoll-Rand
Inland Steel Co.
Interchemical Corp.
Int'l Business Machievem
Int'l Harvester Untemational Nickel International Paper Int'l Tel & TU Join Manville Co. Kate C. Power Kerinecolt Copper Liggett Meyers Tob. Co. Lontheed Aircraft Loews Incorp.
Loris Biar Cement Co. Louisville & Nashvilla R Mesabi-Iron Corp. MikroMota B
Mastors Developement: Monsanto Chantics Co. Montgomery Ward Motorola Ené, Nations CINE ROZ National Day Prod.
National : La
National Buret, Corp. New York Contrai
Rubber and produce markets öwenstinet ar will additionally be along on Saturday, Februtry::11m China: Katrina Western
Pan American Mall Speciale.
200
100
Govt Stocks Skid
British government skidded sharply on fairly active welling. War Loan dropped more than seven shillings and Old Console better than eight, Some of the "gifts" were off as much sa ten shillings at thoir worst.
contracts.
The
domestic No. contract closed 2 to 3 points higher with Bales of 360 contracts.
World futures ruled stendy but quiet willlo activity broadened in the domestic con- tract with trade houses Identl- fled
on both stres of the market.
Dealers
understood Ceylon cargo of Peruvian bought a rawa. for March/April ship- ment at a price equivalent lo about 3.22 cents a pound, fob.
Futures:
Contract No. 4 (world)
March
stocks
May
July
3.20
Sept.
3,20
Det.
3.26
Spot-{cenia
per Jb. fob
Cubs)
Contract No. B
March
5,34
May
6.30
July
DAP
5.83
Spot-(vents per Ib. elf NY
ex-duty)
0.33
8.39
- Dalers stocks opened easier and continued the decline. American Ford dipped to a low of £112% for five-share blocki 1 bila rotacia bed after a healbant 51 mart), Royal Dutch lost about 1- and Britja Petroleum and Shell closed, around one shiling
Gemah bonds showed 06- casional strength and JaDA
Νανο
London Silver
Prices
zenca
Domewarde "CANTON"
Dre London
Пth April
"CARTHAGE" 6th April
Tth May
*"CHUSAN "CORFU"
th April
231 May
June
Adeb.
4th May
Via Singapore, Penang, Colombo, Bombay,
Port Safé & London
Also Calin Marseilles.
FREIGHT SERVICE
In Port
all 12th Feb,
tords 27th Feb.
"SHILLONG" due 4th Mar.
From U.K. Гог Управ
for S'pore, P. Swetten- ham, Penang. Aden, Port Snid, Genoa, London, Hamburg. Rök- terdam & Antwerp from UK.
Kalle 7th Mar. for Japan
With Uberty to call at Belawan Before or after Atralte Parts and at Bombay 1 inducement ofars. Tanks available for carriage of Oll in Bulk. Space for refrigerated cargo. Limited Passenger sccommodation
BRITISH INDIA S.N. CO., LTD. 1850-A HUNDRED YEARS OF SERVICE-1950
"FULTALA” saits 10th Feb. for Singapore, Chitta-
gong & Hangoon. salts 15th Feb. for smaspore Penan
Rangoon, Calcutta. Chittagong
"ORMARA"
"SANGOLA”
anile 20th Feb. for Japan
P. & O./B, I. JOINT SERVICE
due 22nd Feb.. from Eombay & Karachi "ORNA"
salis 23rd Feb. for Japan "ORDIA"
"ORDIA"
dus 13th Feb. from Karachi & Bom-
bay- jolis 20th Tab. aalle 20th Mar.
for Japan (*
for Singapore, Colombo, BURMAY, Karachi, Bae- rah, Khorramshahr &
| Kuwait,
EASTERN & AUSTRALIAN S.S. CO., LTD.
ازار
· “NELLORE
duo '. Mih 'Mar., from Japari
alls 8th Mar, for Bandakan," BADAUL, Brisbane Bydney, Mel- bourne de helride
All vessia havo'liberty to call at any porta an or l'off the route & the reule à, mailing are subject lo'change or amendinami will de wilhrui notice,
For AlpeNckers applu k MACKINNUN. MACKENZIE & CO. OF HONG KONG, ITD.
Teler-bour Nos W7724 4.