៨
THE CHINA MAIL, FRIDAY, JUNE 8, 1956.
TRADE and
COMMERCE
SECTION
Page
NOW SHARE PRICES MOVE UP New York Cotton
THAT DULLNESS GONE!
·
AND TURNOVERUP THREE PRESSURE TRIGGER
FIRES MARKET RISE
By A Special Correspondent
ONE hopes that this week's market provides the answer to the headline
on this column last week-"Share Decline Ending ?"
For a leading broker who prepares an independent summary' of the market each week said this; "At long last the Stock Market appears to have shaken off its state of inertia and during the past week there has been a definite all-round Improvement in share prices as well as an increase in the volume of business transacted."
This week, of the 29 shares | they been, polit quoted in the adjoining panel,
15 were lgher, ten were steady and only four were lower.
Last Week the tally was nine risex, 13 tolls whlie seven shares were strady.
The Trigger
The tumover is up from $2.61
|
In the land section, Hongkong two would have been first, then point three Land roso 31 to $83 while Hotels
one, since the and Humphreys were steady. and last, point fatter directly affected only wharf
Ferries Fall
One broker feels that the next two weeks
are
million to $4.40 million and it may be more active and this, bo moved uter ($135 down $2)
sentiment
one looks for a trigger for this week's recovery one would findi that it has leg pressures:
3. The better
following the British Government' decision to relax the embargo on trade with China;
Z. Low fields of many shares which have fallers in price In the recent decline; Much less interest in two new stillly insues as the date for Anal payment falls dus (June 205.
3
These points are not listed in a strict anter of priority. Had
Trinidad Oil
Boosted In London
London, June 7. Trinidad Oil Featured in a lively oil group as stocks moved higher again today on the London Exchange.
Texas Co's offer to buy the
lifted
shares 30 company shillings at the close. Other - oils closed Arm.
feels, may
further.
and rubber shares and indirectly All utilities with the excop- provided better sentiment for tion of Star and Youmati the rest of the ineritet.
higher. Electris show the best fter pain of the week-up 50 cents utilities to
and Lights have $30 and
30 cents to $22.50. inarket the spur
Why did and Yaumati ($106 down si
My yesterday fall?
guest is Money Into Land
that the market was expecting According to this broker there the harbour tunuel report (ee la vast
of money commending rejection) to be timout avaliable for Investment in the tabled in "Leg. Co." on Wednes
It wasn't and this may Colany (a recent report said the day.
caused a litle pessimism Inflow was about $30 million a have mouth) but most is going into among speculators. land
offering better which
Cement is eléudly at $34% art yields than shares even at their in the stores sellott, A.S. Wat-
relatively high rates.
has risen 50 cents present
These may
pointers to make quote of $10.80. the
Textiles Market
are steady at $5.30 and Nanyangs fractionally
An upswing which the badly needs. This week's activity should provide a stimulus to investment and Text wock should see continuation of the rising trend.
I have dealt with the effect of the embargo on wher! shares elsewhere in this paper, but
In
son
at $7.55,
to a
off
with prices
Diary Of The Week Here is a diary of the week: Friday:
Trying on a light scale wel! maintained. T/O: $260,000, Signs of quiry cause
are other factors which Mariday: Wiert have contributed to their rien.
One is that wharf companies report more movement CATROOS throughout local downs recently: where previous
inclined ly they wera stationary.
go-
to be Tuesday:
This means more revenue for the wharf companies.
Trade Better Also trade hos shown in cì-
irt recent Incrose couraging months.
Colonel H. Oven-Hughes, who Hongkong is Chairman of the Exporters Association, told me WDS this was a natural rise following spot, a decline in irade last year. closed unchanged "On the export side, it is the earnings measures of development of our
potential," light industrial
Elsewhere, Rolls-Royce
fru particular
Courtaulds following
statement,
2 lower
bonds sald.
attracted a
volume
support
hesitancy
British Government
fair Although developed
ht
of "On the import side it reflects some the increased demand for raw around materials for these industries, as hoon the group improved in well as the constant requirentals
closed with of the building trade here.
later dealings and gains ranging to 15 shillings.
Cold shares turned irisgular after early firmness, but closed higher in balance. Copper and tir Issues maiestained inflint gains Rubber shares were flam nndaulet. Ta issues were mixed.
.
Foreign bonds wiro quiet and stoadyUnited Press.
CHICAGO GRAIN
MARKET
It also reflects perhaps, the influx of capital into Hongkong from other parts of the Far East which is increasing the aniount available to spend
Rumour Revived
fresh in- prieta
The Share Market
Provident HK Hotels HK Lands Klumphreys Realty
09
Glance
June 7 100%
ad
May. 10
Ik Bank
1800
May 17 1800
May 28.
May 31
1688
1043
Lombard
2003/08
6014
48M
48H
9724x
DOTIS
685
Under
Underwriters
Un
Dr
Union W'boat
216
211
21b
21b
Wheelocks
8.85
8.70
8.70
8.05
814bxd 21.200
8.95
·JIK What
82
81
Bob
84
98
ITK Dock
30
39m
4134b
4314
13.80
13.70
13.00
13.00
13.80
19.70
13.00
18.40
13.40
0316b
0%
€3
17.40%
· 17.40s
17.200
17.40
17.40%
1.475T
1.425
1,425
1.45b
..1.478
22.00
22.00
22.70
22.00
22:80
130
137
136m
137n
135
105
100
+
107
1086
105
22.50
19.90
22.770 19.00
22.50
22.49
10.80
19.00
31
8034
22.60
22.50
22.40
22.50
2814
3545
$4.75m
34.70
3434
3644
16.20
18.10
10.90
10
16
11
10.80
10.80
10,30
10.80tti
341
3in
340
34n
0.350
0.80s
019
6.35b
6.70
Allied
5.45%
5.40
5.20b
6.20b
$:90%
HK & FE Inv
10.80m
10.00
11.10
11.20
11b
Textile Corp
5.35
5.30
6.30
5.30
5.30
Nanyang
74b
740
7.05m
7.65x
7.85
HK Trams Star Ferry
Yaumatis
Ch Lights (0)
Ch Lights (n) Electric
HK Telephond G.J. Cement Dairy Farm".
A.S. Watsoni
Lane Crawford
Yangtare
NEW YORK STOCK MARKET
Special Issues And Some Blue Chips Show Wide Gains
By Dorothea Brooks
New York, June 7.
A handful of blue chips and some special stocks gained widely in a generally firm and quiet stock market today.
almost Gains innging to
in
G
Bästman Kodak, point in
1 Heyden Chemical
Ingerson-Resid Inland Steel Co. Gentral Infomational Corp.
to harchers in most points stelion with utilities around leiding the feld. Motors, Procter & Gamble, Du In11 Business Machines
Lintas.ed T/O: $830,000. Font, Union Cartilde, Westing Imternational Nickel
shares house Electric and Texas Co. International Paper Rubber dominate the mar-boosted the average for indus- Int'l Tel., & Tel ket. Elsewhere trial stocke 2.48 on the day.
Rails performed well prices, well main- lained. T/O: their average added 1,07, $1,633.000.
fractionel
Wednesday: Shares
Thursday:
tack
22.70
40%*
2014
WORLD
RUBBER
MARKETS
Futures See-Saw On Narrow Range
New York, June 7.
-Cotton futures today see-sawed narrowly in quiet dealings showing small declines most of the acsalon.
At the cloed the list rutchments, or over-pleating, but in uniformly one point lower. Opening prices were off 3 to 11 points. New Orleans closed un changed to up 4 potats.
Most atimtion centred on the
Department of Agriculture'a bufright antotincement that bida för kötton out of the surplus stock will be accepted on June 12, or one work earlier thin recent- ly scheduled, Traders welcomed 'lib tows because I lessened the perlot of uncertainty over Government export policy.
Wis
eastern bült areas, where small Karins predominate, some portion to the allottierats fife nof being ured.
NEW YORK
די
Prices of futures closed, today as follows: Spot
ai
October
December March
MAY July
October
NEW ORLEANS
Prices of futures closed today
na follows:
Spot
July
October December
limitations Wallo ito placed on the quailly to ble sold, trade sources thought bids for more than 1,000,000
bales will be placed next week and milion bales that ns many disa may be soldt Somo quarters **nticipated buying rush froh July
shippers involved in commit- mena calling for, clearances in August and September..
Scattered Selling
Web
Scattered selling weny coupled with increasing reportà of textile mill eurialment and the generally favourable tenor of the crop news. Farmers in centroi
ATK
sections
New York, June 7. The No. 1 Res rubber were reported utilising all allot-
contract futures
today closed 80 to 220 points
higher with sales of 209 contracts.
The standard contract closed
75 to 220 points higher
sales of 12 contracts,
with
Speculative covering in the pari.
July
delivery and higher
mary markets, were the price.
shaping factors.
But all of the activity echtred Out- on the terminal market
10
BO
side, factory buying was sub- retine and only small amounts
400
of shipment rubber were done,
331 Thailand sold some three abeets, Jane shipment at 20% cants und One sheets fours at 28 cents. out of Indonesia at 27 381 were unsold.
John-Manville EB.
49
and
Liggett Meyers Tob. Co. Lockheed Aircraft Loews Ineory.
Kansas C. Power & Light Konnecolt Copper.
125
45
Of a total 1,115 issues appear. ing on the tape, 887 were higher gains. only 262 lower. undertone.
• Steady T/O: $760,000. Godown shah bost performers but other
shares made T/0: gaine $1,030,000.!
TODAY'S
SHARE PRICES
(From Our Correspondent)
Shares
200
2
£15
0
Lone Star Cement Co. Lousville Nashville R. Lowenstein & Soria.
Minnesota Mining
Marsante Chemical Co.
Mision Development
The trading phen picked up sembi Iron Corp. bit and volume for the session totalled 1,630,000 shares con
Montgomery Ward bared with 1,180,000 yesterday.
Olle
"Among the best
per-Motorola - Inc. forhir's
Gaina National Cash Reg group.
National Dairy Prod. ranged to over 2 points in Mid-National Lead west, bearly a point in Cor National Steel Corp. tinental. Gulf Oil, Standard of New York Central
Oils Mashiro Ta Indiana. Shell and Texas Co.
Oil Elevators added around a point to 12 points. Houston Oll stamped was the day's most active stock, followed by General Motors, Southern Production, and Jersey Penny 1. C. Co. Standardi.
wta-linois Glass Pacific Gas & Eles.
Patt American Airways Paramount Picture Parke Davis Co
Pen Salt Co. Philip Morris
Motors,
Aside from Generál automobiles were narrow,
Steels were firm.. International Paper featured with a' rise of more than 3.
points,
Procter & Gamble Ca Puburgh Plate Glass Publieker Industrieg Pure Oil...
Radio Corporatio Republic Steel Roytilda Meini Skeil Oil Co. Sant Rog, Paper Sinclate Q1
New York Stock Exchange bond volume was $4,110,000.
American Stock Exchange Socony oblibi ********** volume was 600,000 shares.
South Puerto Rico Bugde Southern National 201
Dow-Jore's closing averages Standard Brandw
<wery:
30 Industriale
20 god.
1.15 utiles
Studdard Oil of Ch Standard (1), of Ind.
Bandar Oll of NJ:
Storlia Drug Co.
Stokely-Van Camp.
Swift & Co.
$82.90
100.7
64 BY
Budebaker Packard Cup.
60 stock
173.11
40 bonds
.06.20
20,00
$1.23
Commen, future price index 13241 Moody's in
The Water Amtes. Off
€13.70
98
Another posible, reason why
Business done. on the Hong- Hongkong Wharves mul China kong Block Exchange this Providents were active yester-morning amounted to approxi- day was the revival of an old mately $730,000. Noon quotations rumour that the two companies and the morning's transactions:
Buyers Kellers. Bale art planning an amalgamation.
But I learn on very good BANKS
KC Band. 165 1080 authority and responsible share
this state- INSURANCE brokers 'corroborate
Lambird ment that there is no truth in
SHIPPING it whatsoover.
Waterboat Chicago, June 7.
BUTE Another report is that were lower of Grain futures
with one in the market sold short in DOCKS, TO Trade the Board of
Acuve HK Wharves and is now trying it. what moderately dealing
at least ond to cover but throughout most of the day.
feels that Wharves are Dock 434 4336 Prov (D) 14.00 14.50 Large exports caused a re- broker
their $38 at present so
Wherlock..
9.10 covery bf, corne of the early worth
rise we this spectacular decline, but prices were still that
have peen cluse.
in recent weeks may lower than yesterday's now that wheat from Russia.
[New]
LAND, ETC. "
Closing Prices
Alden Inc. Avy. Aied Chemicali Allied Mills Inc.
Ailli, Chalmers •
13.50 was noted on be partly a natural adjustment Hotel.: 3.50 10.70
Scatteredoslavia would get to a more realistic level.
Lower soybeans oli and meal prices together with favourabib wheat and crop news brought pressure into new crop wybeans, and prices declined to as much as two cents a bushel.
4 cents) Wheat closed up soybean up to 2% cents. SE CLOSING PRICES
Prices per bushel in cults: Wheat No. 2, red
Spot
July
Dept
Corn, No. 2, yellow-
July
130-140
kki: Prech
**
American Atrima,
Am Cable, Be Ratio Corp.
Ambrian Cyanamida Co.
Am.. Mech. & F dry, Aston Motal
0 63% There has been heavy iruding HR Lána..
377.45 Humph 148 1.50 Really M fä rubber shares this work.
This is due to the freeing of RUBER
Rubbersti 10RIEBORD 'V' 1.49 American Smelting
2000 1.80 Am Sugar. Ref. rubber for export to China and A.
10000 1.30 American, Tol & Tel the end of the "go-slow" cam-
1.00 6000 16 American Tob, "B" paign by Malayan lábinton Trust...... 1820
30,000 1.50 Anaconda Copper, workers. The price of the raw
UTILITIES.A
Articu SteDE from 73% Straits material rose
22.30 22.00 500 @ 22.90 | Armour Be Tram
Baldwin-Zama-Xam · ... cents a lb last Thursday to
a Ferry 101 100
1800 180 altimore & Ohio CLight (0) yesterday.
SUMN): 00:20 pfeqtria. -
Widespread Rises Amalgamateds, on a turnover
of more than 400,000. Kirices | Tel" příčno. 1. 22.70 - 23.
have Hach from $1.225 $1.45
niel Trunta,, on a turnover of
fndre than 18,000 from $1.375 to $1.525
.....
11. 12.00
INDUSTRIALS
Dairy
The recovery has been fairly Cement 2 566 Widespread this weeks and a tho ddjoining panel intilisator Almout biory betion of the tribet shows good, rised: Buying, cat
was fairly well mustalonesh.
Melanthat Allied, Hongkong b Banks have tacked on $20 bo $1005 and Unions are steady ht
Whoo.
19.30-
1500
20.30. Bendjx. Aviation, Corp.
30.30 | Senguet Coths,
Dolflotten Steal
guio y 10.40 Boulder Airplane
2500 23 20.00 | Borden (The)
1000 at 13.20 Burroughs Add Machine 1000 €12.00 | Canadian Pacific R.
2100
1280
Care{1.
6 12.18 | Cat. Tractor
Exchange Rutes
Lock Have Hon 30% cente, to 80,95. (und broker", thinks this La Piing "to be the corabiany's beat UB Your Oh records andhi du thinks, the Jopariono scalloping
the latest ri06) 5}
Chrysler, Motoré v Colgate-Palmolire Commercial Kredit. Commonwealth: 100
·Continastah· Qii vf Del,
· CTÓW - ZSDE Cuban-ARS
Dow
Tone Co.
Twonty Century Fox Film
Union Carbide
Union Pacino "Railway.
United Aircraft
US. Gyperum
Ua. Line Co.
10%. TB. Rubber 114 UA, Sinetting
331⁄2 UB. Steel ...
01. Warner Bros.
24% Wostinahou Electrio,
Wort Vo. Pulo
cents
Spot No. 1 Res was offered at 29% cents a pound.
29.90
Closing prices were:
-No. 1 Rn
July
401%
Bept
137
Dec.
.20.00
glabdard conleyot
July
29.00
Sept.
Dec.
473%
Mar
28.00
Máy
20.34
Jшy
SINGAPORE
4.90
The market opened steady on {batter
overscas advices
March May
October
LIVERPOOL
Future closings, in pence per ib. wore as follows:
and contract
July/Aug.
Dec/Jan.
28.43
Now contract
July/Aug.
20.45
Oct/Nov
24.90
34.32
Mar/Apr.
23.00.
May/June
23,72
Egyptian Kamak
July/Aug
80.00
Vailet Pread
P.O BI EA
COMPANIES
PENINSULAR & ORIENTAL S.N, CO.
PASSENGER/FREIGHT SERVICE
"CARTHAGK" { "ADEŃ"
PUANTONE "CONFU”,
"CARTHAGR”
East London
10th. Jina?!
záth Jaký
isin Augus
Dae Kangkéns, 20th Time 29th July
20th Augu
17th September
18th September 18th · October
Via Southampton, Port Said, Aden, Bombay, Colombe; Penang & Bingapore.
Homensŕdi Leaves Xongkang Due Londos
Birt July "CARTHAGE" 29th, June
10th AuguEH 24th September
2415 - Milihat
*SURAT” 11th y "CANTON" *CORFT" "CARTHAGE" 10th October
and
advanced on short covering. God set back towards noon
It
but
1942
酪
advanced again at the close on |jervous: shoht covering.
VE
DO Future closings werO;
5 No. 1 rubber per 1b: Junie 1834-2835 4342
July 7877-I 10012
Aug. inquoted 27. a tubber per 15. June 75-763)
No.
7416-28 -74} -73}} pot rubber tinbaled 781-701 Banket prepe
46 No. 4
U
44
704% No. 1 pále eripe
LONDON
++
"
D8-100
The market was ihm will pot quoted at 23 pence per 1b. 2011 Prices:
3544 No. 1. Fu pot
161ettlement house ferm:.
AUS
4 sept.
Oct/Dec.
Apr¿Jung
2211-2014
General markets, elf hazis, ports:
11 September, 22nd October
19th Novembe
Bingapore, Panatig, Colombo, Bombay Ads,
Pott Baid • London. *Also calle Hamburg, Rotteidam & Antwerp.
FREIGHT SERVİCE
"BINGAPORE"oads toth June for Singapore, P. Swit
"SOMALI”
"SUBAT"
tenham, Pedong, Adeo, P. Baid, London, Ham- burg. Rotterdam Antwerp
Fonds 17th June for Bingapore, P. Gyer Serhan Pamang. Aden, weiller. Havre, Lindon, Hamburg. Rotterdam & Antwerp
dus 22th June, from UK.
BRITISH INDIA SIN. CO., LTD. 1850 A HUNDRED YEARS OF SERVICE --- 1056 “WARORA" dne 13th Juos from Japan
sails 14th June for Singapore, Penang, -
Calcutta de Rangoon chittagong don 14th Jume from Calcritte KALID 15th June for Japan
J
July Aug.
Estate seper thin. July i
thick
2014 unqualed
4
AMSTERDAM
"SANTHIA”
**SANTHIA”
wal The market
stendy. Prieta closed today in guilders
13% per kilogram," vit June, US
followe
No. 1 rubber
Prem
No. 2 rubber
(No, 3 rubber
No. 1 crepa
Pecana
due 3rd July' from Japan Palis – 4921 July for Bngapore,
Rangoon & Calculis
P) & 0./B. 1. JOINT SERVICE
220 buyers
218
25
275 mont
led Press.
“KOLA" "OZARDA
London Foreign New York Sugar
B Montreal
Exchange
14595 · Naw York
BOL Brundela
Copenhagen
3144 Frankfurt
Puris
Zurich
302071-10
contracts
Market
New York, June. 2.- Iddon, Jurie +
World No. 4 sugar futures to 60-8/10-2.00% 27711-273916 day. Closed i point lower to I 139.10-139.10 point higher with rules of nine world contrácia Activity in way mibuuod pending raw mar- 1231-1231 ket developments In' domestic taws, dealers understood some dletrees Phillipines in neartly
+11.00-11.59%
1763-778134 2016-0811
Others were unchanged ...
weifelted-Prus,
{kbsorbed, bon had been
Contract No. 4 (World)
New York Foreign Futures
Exchange
BALI. Dits June for Japan dne 13th June
sails 1311 June for Singapore, DOM- BAY, Karachi Bamaa, Khorramatzahr
de Viana-al-Almedi
“ORDIA" due. 20th June. From Bombay
salis 22nd June for Janua dao
"TKAUNA!!
«UMARIA“
4th July from Bombay BALIA. 8th, July. Zar JapMAS.
dhë Ahen July, from Borodny sails 20th July, for, Japans
EASTERN & AUSTRÁLIAN 5.S. CO., LTD. "ARAYUZA" Malls in June Dir: Batida can. Sabeul,
"PELL'ORÉ” Juk Bun Jime frèis "Aisetrália
All Tousle have Uberty to tell, at any porta or en le route, di "the route, de kellaN" ARS HONG to care of Angadmisi with or, wilbenă – hetes,
for full particulars dpply tes: MACKINNON. MACKENZIE & CO AL HONG KONG LID. Telephone Noc: 2/7214