TRADE
THE CHINA MAIL, FRIDAY, MAY 25, 1956.
and
COMMERCE
SECTION
WORLD
LOMBARD HIT BY $1 DIVIDEND CUT COTTON
Share Falls More Than $12 In Week
DOCKS AT NEW HIGH
By A Special Correspondent
One share took a sharp nose dive on the Hongkong Stock Exchange this week and another tacked on $2% to show a $10 gain in the last two months.
The share
crashed
that was Lombard
Insurance. The company announced a $2 dividend
★ The Share Market At
BIK Bank Lombard
Unlon
IK Wharf
IIK Dock
Provident HK Hotels IIK Lands Humphreys
IIK fleally HK Trans Star Ferry
60
A Glance ⭑
MAY 24 1855
489
Up or
down -53
Apr 20 1675m
May 3 1070
May 10
1060
60
9906
990
*** 97214xd
May 17 1660
6044 07214
00736
---$5
-$1814
Underwritera
9n
담
90
In
Union W'boat
20.10b
20.500
21b
2in
21b
steady steady
Wheelocks
8.70
8.85
8.85
8.70
870
steady
78
всь
BZ..
61
80b
--31
3714
373
39
39m
4114b
+$214
14
13.80
13.80
13.70
13.00
--10c
13.80b
13.80
13.80
13.70
13.60
100
6244
634
03
6714b
024
steady
17,408
17.CON
17.40m
17.408
17.30s
-100
1.475
1.50
1.475m
1.425
1425
steady
22.60
22.80
22.00
22.60
28.70
+190
139b
132b
130
132
136m
81
Yaumatis
103
103
105
106
107
+$1
Here is a market diary of the wock!
Friday:
Ch Lights (0)
22.00
24.80
22.69
22.70
22.50
200
Ch Lights (n)
19.70
Electric
3034
19.90. -31
19.80
US
31
304
-250
Business On stricted scale. T/0:
ù
Tum
HR Telephone
22.75m
23
22.60
22.40
--100
G.1. Cement
35
354
355千
34.75m
34.95
steady
$-100,000.
Hairy Farm
16.20.
10.30
16.20
18.10
15.90
-200
Monday:
Whitsun holiday.
A.N. Watson
11.20
11
10.80
10.80
stendy
Prices virtually
Lane Crawford
34n
3da
34D
34n
34m
steady
changed:
7/01
Yangiszo
6.00
6.75
0.750
6.80s
036
---300
SHO0,000.
Allied
5.40
5.45
3.465
5.40n
6.20b
-200
Wednesday: Listless
T/O
HK & FE Inv
11.20
11
10.80m
10.90
11.10%
steady
$380,000.
Thursday:
Prices tend to drift fractionally lower.
Textile Corp Naiyans
5.45
5.40b
5.35
5.30
5.30
steady
B:
7.80%
714b
7.65m
7.65m
steady
T/O: $700,000.
Jast Friday. In 1953 and Tuesday: 1964 they paid $3.
was
The $1 cut shock to the market and the share dropped from $60% sellers last Thurs-| day to $48 sellers yes- terday.
Docks Go Up
The share that rose was Hongkong Docks. At $414
it is at its highest price for many years certainly
168
far back as my records show (1951).
more
i
than $1
Reason for the rise? Ar 1, pointed out last month.
showed the company profit of million last year-highest. since 1952-out of which it paid a $3.50 dividend bonus.
and
19.90
19.90
14.02
Malaya 'Go Slow' Sends Hongkong
TODAY'S SHARE PRICES
(From Our Correspondent)
Rubber Shares Down
THE
By A Special Correspondent
Wall Street Stocks
MARKETS
New York, May 24. Cotton prices today see- sawed over a wide range in moderately activo
Slashed 212 Billion dealings
New York, May 24.
Stocks valuations were down another 21 billion today, bringing to a total of some 12 billion slash in the market values since the industrial average achieved an all time high on April 6.
Turnover today totalled | John-Manville Co. 2,600,000 shares, compared with 2,140,000 shares yesterday.
Steel shares were especially hard hit with losses ranging past 2 points in Bethlehem, Young- stown Sheet and Tube, National Stool. Sicel men attending the American Iron and Steel Insti- have tute meeting this week predicted a third quarter dlp for Tihe industry.
Raits also wore slashed, with declines ronging over 4 points in
Louisville Union Pacific, Nashville, Southern Railway. Olls had losses of 2 to points In such leaders Callfomia Standard, Shell, Texas Co.
Metals lost 2 to nearly
Kennecott Copper Lockheed Aircraft
Looww incorp. Lone Star Cement Co. Montgomery Ward National Cash leg. "A" National Lend
New York Centrai Olin Mathlosan
Que Elovators
Pacific Gas & Elet,
I'm American Airways
Paramount Pictures
Pop. Saft Cu,
Purke Davis Co,
Publicker Industries
Pure On
Radio Corporation
Ip the final minutes, deferred with the weakened months
renowed
Brd
stock market liquidation, agging to the day's
lowest levels,
higher to
Final range Was lower. 14 points The market opened off 1 to 18 New Orleans closed up
points.
4 to down 4 points,
Volume and open Interest today
70.200 1,457,000 beleg
NEW YORK
Prices of cotton futures closed today as follows:
Spot
34.20
32.40-42
40
1201
were:
2012
4375 Month
Volume
Onen interest
July
10.80)
220,700
7334 Oct.
15,300
301,700
401 Dec.
18,200,
443,700
Mar.
B00
210,000
May
0,300
137,600
392%
53%
July
5,000
10,500
42
Oct.
2,500
100,800
5114
Total
10
3014
42
0312
4351
42
Liepublie Steel
43%
July
3
Sinclair Oil
dakt
Oc
Sucony Mobiloil
721
Dec.
Southern Itallway (Com)
1001
Mar.
Standard Brands
411
Mary
Standard Oil of Cal
July
Standard Dil of Ind
NOL.
4
Standard Oil of NJ.
อน
Swift & Co
4496
lost
Texas Co.
1229:
110%
170
601 Old cuntract May/June 20%
July/Aug.
July/Aug.
Od/Nov
Deo/Jan.
Mar/Apr.
United Prem.
points in Aluminium and Alcon, Studebaker-Packard Corp. Kennecott, and Anaconda,
Ima chemicals,
more
Allied
Union Carbide than 3. Du Pont inore Valon Pacifle Railway
United Aircrafi than 2.
U.S. Gypsum Earlier, traders were noticeably US. Line Co. hesitant after yesterday's upset US. Rubber
On
of the heels what had U.S. Smelting appeared to
be a substantial US Steel
Warner Bros. Westinghouse Elvetile recovery movement.
Woolworth The break locked like a sell- today. However, ing climax
in the there was a late rally
tlckers day, putting reporting
continued "go slow" campaign by Malayan rubber workers in their bid for higher wages caused a further sharp decline in rubber 33 minutes late at work in floor shares on the Hongkong Stock Exchange this week.
More than 180,000 shares employers to arrange a sette- changed hands and Amal-ment of the dispute.
Business done on the Hong-amateds dropped from But the latest news is that the
$1.30 મ Just Thursday's
konst Stock Exchange morning amounted 10 up- Not only are earning pespacia
*proximately $410,000 Noon close to a low of $1.075 yes- the
bas company bright but
quotations and the morning'sterday. Hand in Hunghom | transactions; ulso sold
million $5 which nets mere than
the talk and there 13 markel of a good bonus.
wus
SHARES
BANKS IIK Dank..
15.
ป.
BALER
1059
100 2035
A 1000 21003
was $2,77
IL The DOCKS, ETC.
K. Whorl. Dock Frov,
East Ante
INSURANCES
Bombard.. Likler Wallers
239
170
40
500 fr
D
Wheelock
The rest of the arket dull again and prices look an- other small drop on the week. Turnover at $2.35 million in u
days trading Unstor three-and-a-half
better-bul week
slightly is
week Last only slightly. was just over $2 million. previous
million.
week
It
Dull Conditions
Of the 20 issues in the ad-
Joining panel, 16 are lower on the week, 1 are
steady
only three are higher,
Apart from Ducks, the only
two to rise were Yaumatis (up
80 #t 100 @ BOY
(0) 13:00 13:30 1000 13.30 0.05 0.73 2000 70
LAND, ETC.
MK Hotel
HK Land..
Kumphreya. RUBBER
132 13.70
A Rubber 1.129
UTILITIES
Tarn...
10
17.30
20.000
113
133 2400 EUDO 4 2235
2340) 22035 1100 u 22.40
300-19.00
-19 70 15,00
Star Ferry..
matt Ferry 100 100
$1 to $107
1
cent to $22.70),
Trading conditiones words of une broker
(U) c Ligh funnel report
INT and Trams (up 10 Flectric
Tephone Dom
speculation)
In the
жете prices inclined to sag because of inek of incentive."
"extremely clull with
He adds: "It appears difficult
30 3042 2000 301. 23.30 2215 300 $2,40 11.450
672 1000 11.90
INDUSTRIALS Canent
34% 35 RODO
1135 31.90 STORES, ETC.
15,00 Dalry
10
10.40 10.70
to give any definite explanation Watson for the present
L. Crawford state of the
COTTONS unless it is cautiously Texties watching the trend of world MISCELLANEOUS
market
markets which also seem to be going through a dull period,"
Gilts Lower
Allod
In the gilt section, apart from
Lombards, both Banks and Unions were slightly loweT.
In docks, Wharves and Pro- lower.
vidents were also lady.
Lands were fairly
Apart from Troms and Yau- matis, Utilities were lower and China Lights edged down yes- terday from $22.70 to $222. Electrics and Telephones also lost ground slightly during the day,
New York Sugar Market
The shores recovered
Lofore
the end of the morning call to the extent of two-and-a-half cents.
to
Rubber Trusty dropped from
$1,80 a nominal price of $1.30.
Five Cents Drop
ΠΟ
"go slow" campaign is still and workers are oven selling jewellery to tide them over hard times ahead. Also the workers appear to eritiei arbitration,
be
This suggests that the union attitude is hardening and that they will do their utmost to extract wage increases from the employers.
on
As well as going slow dally production all men of the National Union of Plantation
tools every Friday.
The price of raw rubber on the Workers have agreed to down
has Singapore market dropped more than Ova cents on the week, and by 12 cents
a month.
11
Two montis age, Amulga- muteds sold at $1.55 and Trusts at
This
that $2,20.
means Amalgamateds have lost almost 50 cents and Trusts almost $1 in the period.
Amalgamateds have recorded
some particularly
heavy turn- Earlier
overs in recent weeks.
this month more than 225,000 11.00 changed hands in a fortnight. This week the turnover was 160,000.
400 11.70
2016.10
500 i 10 200 10.00
Attitude Hardening?
The Straits Times estimated this would mean a loss of HK$4 day in untapped million
rubber
WORLD RUBBER MARKETS
London, May 24. The rubber market was easy with spot quoted at 23 pence per lb. Prices:
No. 1 Rss woot ........... 100 332
the
According to recent Singapore
Commissioner for July papers, 6.30
Labour in KL was trying 10 ...... 6.30 0.4012,000 5.20bring together union men and
6.23
Changing Pattern Of Finished
Steel Products
London, May 24,
227-23
Selticment house term:
August
2755-2274 227--229
Oct/Dec.
Jan/Mar,
April/June
General markets, cif basis,
porta:
May July
October Estate unquoted.
стере
thin and
AMSTERDAM
The workers also refuse to work overtime, and if it rains on any morning they will not work on that day.
They Raise Demand
On May 7 employer-employee talks broke down on a Union demand
for
HK$0-0-day minimum
for feld workers the lowest paid people on estates.
wage
The Straits Times poluted out that this was HES1.40 more than their present wage. The
final offer employers HKS5.70.
Wis
With the collapse of the talks the workers went back to their original demands and said that it negotiations were reopened they would want HK$12 a day for contract toppers, HK$11 for checkroll tappers and HK$9 for field workers.
The Secretary of the Malayan
transaction,
New York
Stock Exchange bond volume was $4,230,000.
American Stock Exchang volume was 1,000,000 shares.
Closing Prices
Allied Chemicals Allied Mills Inc. Ailla Cambre American Metal American Smelting American Tel & Tel American Tob. "B" Anaconda Copper
Armour ARMA Baldwin-Lima-am. Baltimore & Ohlo Bendix Aviation Corp. Dethlehem Steel Boeing Alplane
Burroughs Add Machine Canadian Pacific I
Case (3. I.) Co. CL. T. Financial Corp. Chrysler Motors Cantinental Oll of Del. Consolidated Edison Cuban Am Sugar Diamond
Nemours Dupont do Eastman Kodak
National COR
Elroad
Eric
Family Finance Corp. Ford Motor ..... General Electric General Food
911155
3416
0411
3015
190
783%
7346
50
*
*
32.02
Unlled Press.
LIVERPOOL
Future closings, in pence per
b. were as follows:
511 New contract May/June
40% Egyptian Kamak May/June
United HTONE.
P.OBIE.A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
---
Outwards "CANTON"
Leaves London
Ballad
Due Hongkong Beth Mar
"CARTHAGE"
20th June
"ADEN"
20th
Jurie
29th July
"CANTON"
18th July
*20th August-
"CORFU"
15th Augu
17th September
Via Southampton, Fort, Sald, Aden, Bombay, Colombo; Petianz Alagapore,
Leaves Hongkong Des London
Homewards "CANTON" "CARTHAGE”
**SURAT” "CANTON"
D.
General Motors Goodyear The
International Nickel
Heyden Chemical Hoistake Mining Co. Int'l Budnem Machines Int'l Harvester
429
"CORFU"
341%
Via ВОДАРЕ,
International Paper Int'l Tel & Tel
12022
31
Port
Plantors Industries Employers
Mr
G. R. Association,
"The said:
(Just Houghton wage) agreement was in opera- tlon for only Ave months before notice of termination was given by the union.
Can't Afford It
to
afford can *No Industry
grant wage increases at such The Intervals. frequent MPIEA wishes to ensure that 11 future
will agreement provide for 1066 frequent Blaims.
CHICAGO GRAIN
MARKET
+
*
1st June
29th Juma
11th July
24th August
*
*
*
Dad July
31st July
13th August
24th September
21st September 22nd October
Colombo, Kambay Tebabr.
Bald
&
London.
* Also calls Hamburg, Rotterdam & Antwerp.
'FREIGHT SERVICE
In Port "SOMALI" 'SINGAPORE"due 3let Moy "SINGAPORE lords 10th June
*
*
"BOMALI”
*
DOW
*
Chicago, May 24. Grain futures prices were steady to weak on the Board of Trade today, with wheat and bottom of tho In
and soybeans at the "increase
weges
those now list. thick amenities beyond
being offered and refused would
Traders reported rapid pro-
43 harvesting be ilkely to have a detrimental
gress In replanting on which favourable weather and crop effect on
selling
and news brought the whole future of the industry
Majority hedging into wheat. depends."
the new crop was pold The General Secretary of the of
to Gulf ports, of Plantation destined National Union
with only small amounts going Workers, Mr P. P. Narayan into the ion.
"We have tried our best- said: to reach an amicable settlement.
# carly morning riiess duo to What wo wanted
prolit taking and averagei minimum wage for field workers equal at least to what is being about cent under yesterday's
close. bald to the Public Works De- partment doily-paid- einployees. "This we demanded in the The tin nrket was easy interests of the country and
The market was easy. Prices closed today in guilders per kilogram, clf June as follows: No. 1 rubber
2.23 pald 221 buyers
2.08 United Press.
No. 2 rubber
No. 3 rubber
No. 1 crepe
PRICES
2.20
"
The Government's policy of discouraging | LONDON METAL consumption of durable consumer goods and placing greater relative emphasis on capital construction and exports is reflected in the
London, May 24.
changing pattern of deliveries of finished steel spot and three months fell 74 industrial peace."
products.
-to
points to the common price of 745 sterling.
Turnover was 60 tons. Prices closed today in sterling per long fan as follows;
3-month
Figures Now York, May 24.
published by the in 1955 while those of plate and World No. 4 sugar futures to fron and Steel Board, for in-sections have risen. day closed, unchanged to 1 point stance, show that deliveries to Meanwhite, trade sources re- lower with sales of 140 con the motor and eyele Industries part that deliveries of finished
were running at 28,200 tons excel tracts.
products, particularly G and sections. are on a Domestic No. 6 sugar futures work in March compared with plates
Budem point 30,000 tong in March, 1955. On botter scale. There was a slight | Copper (pot|| closed tmchanged to 1
deliveries
demonth contracts, the other hand,
output Bigher with sales of
trom and steel drop Trade buying and covering ship-building, constructional and last month which was attrl-
Load 2nd half Mey
Aug. orders in the nearby world dell other engineering have been buted to the Essbor holidays but veries were supplied through rising and in March were at a supplies are reaching homp de Zino ad halt a weck The rate of 18,400 ton a realising and hedge selling.
as stinations at a more liberal rate domestic
against 02,900, tone a year ago. and there has been an encour contract Docked d
Deliveries
joging viso iry consumer, stocks, special feature. Futures:
Contract No. 4 (world)
1.34
anduci rate of
WDS
LONDON PEPPER MARKET
Tho
was
quietly steady
Soybeans
were weak after
Wheat closed off to % cent;
United Press. soybeans up to off 1% cents.
LONDON SILVER PRICES
FIDES UK
from UH.
Adra,
for Kingapore, P. Swet- tenham, Penang. Aden, F. Sald, London, Ham- burk, Rotterdam Antwerp.
&
loads 15th June for Singapore, P. 6wet. tonham, Panang, Aden, P. Bald, Genos, Mar wellies. Havre, London, Hamburg, Rotterdam de Antrop
BRITISH INDIA S.N. CO., LTD.
4
1856 - A HUNDRED YEARS OF SERVICE -- 1966 "SANGOLA❞ die 2nd Juno from Japats
salle de Juno for Blogspore, Penang.
Rangoon & Calcutta "WABORA" due 13th June from Japan
malis Teh June for Singapore, Penang,
Cicutie - CHILLKORE
P. & O./B. 1. JOINT SERVICE
"ITAURA"
"TTOLA"
"OZARDA"
*
*
for
*
London, May 24. The silver price was quoted London, May 24. today at 78%
pence Tarket pepper
White Sarawak spot and 7894 pence for forward. penica was quoted at 1 shilling 1014 (aguinet 78 and 70%
Black Sarawals proviously)United Press. 110% petice, selles,
special, 1 shilling pence sellers, Baja BlackMalabar, May wat
Buyers Selleen
740
740
74439-745
307
200
2043
300
300
110
108
100
-Ustad Presa,
offered at 212 phling 6 pence Exchange Rates
por cwtUnited Press.
UK sted production in All NEW YORK METAL N.Y. Cottonseed Oil, dollar per (1) The Bound said rat while was at on deliveries of shoot had bonded 21,890,000 tons compared
In Aral 22,141,000
March
with and
quanter and were in March six 20,435,00 in April last year, ac Der pent less than in March last cording to the Iron and Steel year, deliveries of plate and | Board.
Isections ingether increased : by
July
3.13
Sept
Oct,
33.37
|to dall slightly during the
1.23
NEU
May
July
123
Bept.
28
Spot-Counts per 3b, lob
"CUBK).
nino, per conk
Pig Iron Output
Contract No. 4
The same, dimngos is pattern
FUTURES
Now York, May 24. Prices of metal futures closed today in cents per lb. as follows:
May
14208
96.800
0.52
356 Bept. Now
6.50 Spot-(cents per in. gif, NY: N
*ax-duty)
1.50 **United Prem
Have been reflectod... Ji the Pig too output in Amrdi was unos at diponts of finished at an animal rate of 13,325,000 abeel. Imports of shoot and like itors andnet 13/024,000-in dorph phate
Juno
Eine
Coppes
have fallen in recent on 12101,000 Las Apel2, 1955 - months from the lavale reached China Mail: Siprecini
New York, May 24. Prices of cottonpood oil futures gloved today in coole per ib. as follows: July Bapt.
Bulidinem was dond In the local upometal exchange -market thin morning at the following rates: Bierling notes (per £1) Australian notes (per £1% Indonesian rupiah (per 100). ".. Slam fical per 100)... Singapore (Birgfla) ......
Radio Interference It is agrotted that owing, lợi poor rallo reception many com- mercial iteme dro fot: avaliable this morning,
dae ist May Balls and Jup
ÉZONA TASMANI
for Bingapore Madras,
BOMBAY, Colombo,
di Karsoni
GUD 6th Juno Rom_Bombay
•WASZE BEN Juppo Etz - Fapers
*
DOM-
due 10 June for Bingapore, safle 12th June MAX. Karsohl, Barah. Kuwalk Khornemakabr,
& Myne-al-Ahmedi
EASTERN & AUSTRALIAN S.S. CO., LTD. "ARAFURA” loads oth June for Sandakan, Rabaul, Brisbane, Bydney, Bis- bourne'de Adelaide "NELLORE" due in June from Australia
All' vesels have liberty to call at any posta on or off the zoula & the routa à soiting are subject to change or amendment' with or without noticé,
For full porthe dams appily fo MACKINNON, MACKENZIE & CO. OF HONG KONC ́LTD. Telephone Nos: 2977914.