TRADE
CHINA MAIL, FRIDAY, NOVEMBER 28, 1956.
and
COMMERCE
SECTION
SHARES NEAR 1956 LOW JAPANESE U.S. NATIONAL
SLIGHT FALL DURING WEEK
STEADIER MARKET
AT THE CLOSE
By A SPECIAL CORRESPONDENT
Provident
teady
CAMERA
SHOW
New York, Nov. 23. Over 60,000 American camera fans are expected to attend the 12-day third annual Japan Camera Show which gets under- way this Friday at the Japan Trade Centro.
The exhibit will feature the more than 700 made-in-Japan cameras and optical products assembled by the Japan Camera Industry Association.
*The Share Market At A Glance ★
Up or
Oct
Nov 1
Nov 8
HK Banks
1030
1620
1010
Nov-15 1595
Nov 22 1365
down
Lombard
4311
42
42n
Union
1000
980
990b
}
Underwriters
8.50
8.800.
1.KÜD
43n 050nxd
8,800
9674
B.80n
Union W'boat
23.60
23.50%
23,502
Wheelocks
7.05
6.55
6.70
23.50m 6.55
23.50n
6,50
$30 strady -$12.50 steady rlesdy 5¢
ITK Whart
00
pob
вес
B9b
IIK Docks
45
434
#4
440
44n
13.80
13.90%
13.00
13.80
13.50m
+$1 steady -300
15.10 04
14.40m
14.80
14.40
14.30
01
**
0114
19.30
19.30
19.10%
19.10m
198
steady
1.425n
1.35mxd
1.35b
1.35
1.25b
--10
23.50
230
23.
1416
142n
23 130b
22.50
22.40
~=10c
143
141n
steady
107
102m
104
0014
100
+500
24.90
23.70
23.90
23.20
23.30
+100
24.20
1223
23,00
22.80n
22.00
+100
3191
30%
31
30
3014
+250
25.10
23.00
24.40
24n
23.50
-50c
3814
30-31
18
36%
30% m
+200
Dairy Farm
10.10
14.30
14.70
14.10
14.20
+100
A.8. Watson
13.80#
12.00
13,80
13.20
13.20n
stendy
Lane Crawford
20.40n
20.40
20.40
20.4011
20.40
steady
Yangtser
6,000
0.031
GR
5.80
6.80n
steady
Allied
4.007b
Эп
4.901
58
4.050
Kteady
Eri
JIK & FE lay
10.50%
10.40n
10.40m
10,10
10%
--10c
4.15
4.10b
4.10n
4.05n
-Sc
"The off-brond
7.00m*
7,50x
7,60%
7,50%
steady
has disappeared,"
he
merchandise said. -
Up went the T/T end of the seesaw towards the end of this week and down came the Stock Exchange end. But at last night's close movements on both the gold and the share markets suggested a slight change.
תי גזית
There seemed to be a steadier tendency in shares following the Tuesday-Wednesday droop.
Whether this will Jerant 1 With gill-edged yielding so anything, today's sales will
arch
hardly expect But this Battening Trend the market to show much In-
Banks yielding stopped the rot and enabled the terest in market น
with twelve jéquivalent of close
even a slightly shares steady, nine down and | hither rute, eight up The previous
tally was 17 down,
and one up
werk's steady
Links are uiso down this work -312 They have ¢¥€>>> £50 T/T touched a prate of $6.50, ped 12 in a fortnight to yesterday before clissing at $6 49 in London, but I see they are The reason which was also the day's open- how back to £30. ing rate. On
The for this fall Wednesdity
Is probably London market movements. closing rate was $0.474.
There has been some activity in Amalgamated Rubber which
rison from $1.40 xd t
No Selling Pressure
The $30 fall in Banks, the $12.30 fail In Uniona mul the fall in Telephones and Trams brought the market to the lowest level since March 23. necording tec- to my calculations—just tionally
below lakt weck 'a
clusing rates.
have
$1.425.
The Time To Buy
B130
And now a word about share levels: tu Wo
pointed
cut
carlier, reverul shares
err
welt, rickding gloomy Wheelock 战 Investors
notably
the
It has been rather
week again but
draw since
thal London
Bunka Kroup,
ean Dalry Farme tou Trams from the fact yielding 8.2 per cent, Yaumaus, York per vent, Lights, about 3 per cent. Electrics, 4.7 per cent, Telephones, 7.4 per cent and a
New and
have been much more damai.
or
present
At least there has been little
ከ selling
Bert pressure which would have pulled prices
in down considerably
the listless conditions. Ice Here is an authoritative House Street
on the account wrok's business which is given exclusively to this column:
"The
on.
One is prompted to ask now much farther shares will fall and the answer to this obviously depends upon the international situation. It is hard to see them however, coming much lower, unires Investors have a very good reason for selling. Trams ate preity near the year's low International situation and signs and Electrics und Telephones of sentiment improving nl the
are climbing down to their low beginning of the
marke.
Stock
Exchange
tinues to be dominated by
week
unfortunactly shortlived.
Bargain Levels?
con- the
were,
"Further uncertainty led to h more cautious altitude and this must
IIK llotels TIK Landa Humphreyn HIK Stealty HK TramS Star Ferry Taumatis
Ch Lights (0) Ch Lights (n) Electric
HK Telephone
G.I. Cement
Texille Corp
Nanyang
4.35
7.85%
The show also features an International print exhibit, with more than 75 per cent of the exhibits of Japanese origin.
AVERAGES
SUPPORT RATE
Washington, Nov. 22.
Mr Ezra T. Benson last Tuesday set the national average support rate for 1957-crop rice at $4.43 a hundredweight or 80 per cent of current parity.
this
not mad-
This compares
Was with the 1050 | Congress support rate of $1.37, or 821 datory. I could be used if the per cent of parily,
Secretary determined that it Mr Benson also set the 1057 was "adminstratively Acariblo nationai nerenge allotmenl તા and in the best interests of rice. 1,502,500 acreage, Under overage producers and the United yields,
alloiment
would States.” Mr Benson said he produce a marketing quota of could
make such a deter not hundredweight of mination. rice.
He
allotments said screage Bud marketing quotas neccssury for the third sucera- sive your because "supplies aro in excess of anticipated ' still
use."—United Press.
At the press preview, Matao 41,325,000 Mitsui, executive director of the Japan Camern Information and Service Centre, praised the hig quality at Japanese cameras, opileal and ile said Japanese camera produels which are now being exported to the United backed" by States are "fully reputabla manufacturers.
United Press,
TODAY'S Commonwealth Supplies OIL STRIKE
SHARE PRICES
(From Our Correspondent)
Busines done on the long- Slock Exchange this kotu morning amounted to approxi- Noon quota- mately $344,000.
tions and the morning's trans- actiona:
Shares
BANKS UK Bank Enal Anje
SHITTING Wherlock
Bayern Bellers Balen
1350
40
1000
240 240
0.50 1
000 11000
02
HK
162
1070 13
itta.
DOCKS, ETC K. Wint Prov. (0) LAND, ETC.
te HK LANG..
Revity
RUBINER
Analg. XD 1.42 1.470 Trent
1,624 1.6775 7820 6 1,0235
A number of shares have presenti pront backing at their rates DI between 10 und 23 UTILITIES
Ymumati there per ceni.
Obviously come time soon-pre-
There
a continued resuming
gradual Improvement international situation will demand
bursi through
in- when present inhibitions. conditions prices ferest in T/T current or
M | INDUSTRIALS
persisted throughout the mainder of the week gradun falling off in the volume
of business transseted.
"Under
Bese
with
when
...
141 14.00 6014
£200 fr $5) 500 @ 01
1.66
091 101
1480945
100
100
100
100
4103 ». 30%
Cladi (0) 23.20 231 the S. Light (N) 22.00 23.10
Electric
301 302 Telephone
12) 231 23.70
..
have tended to drift fractionally higher rates must begin to pale Cement lower where changed. In fact with the realisation that there tope Certain
are approaching are better bargains to be had In Issues levels which may prove
still falling shares than Ameri- STORES, ETC. cient to bure some investment
Wheelock
buying. "In
the
Wheelocks.
su-
can dollars at $0.50 with cents trip back to normal ge- group. tlat very near. Reallies und Yakı-
00
Day Watron
COTTONS
Nanyang
matis are yielding uver 11 per My advice to people who are cent. Banks are yielding about | considering buying Is 001 ta
and 5 per cent
Dalry Farms waste any time, but size up the
market und buy right away.
over 10 per cent."
Turnover this week is $3.229 million. Last week I was just below $2 million.
Bunks Fall-Why
In the Utility group-tradi- tionally market leaders-
the Yaumatis, the two Lights and Electrics
though
Shares like are Telephones, Lighês,
Yuumatla Wheelocks,
at (which are abnormally tow
und present
Cernents rates), Nanyung Cottons.
Diary Of The Week
higher, below the week's highs. Yester- Friday: day Trams kept steady at $22.40, Yaumatis at $100, Lights at
Hero is a diary of the week: Sentiment beiter. Prices improved. T/O: $775,000. Prices make head- wide on D
$22.30, news at $22.90, Electrics | Monday:
were a quarter higher on
the
day
first
Tuesday:
the at $30% though male was an odd lot of 84 which
might have been difficult to
Telephones fell 20 cents to bec
Youmatin, which have
front. T/O: $1.1
14.20
Kingdom To United Should Be Adequate
London, Nov. 22.
Mr Peter Thorneycroft, President of the Board of Trade, told the Commons that he saw "no grounds for serious apprehension” about Britain's supplies from Commonwealth countries.
unemployment
30
this
Commenting on the estimated ; enuso effect the blocking of the Suez country", Canal would have on imports trom Commonwealth and
Thorney colonial sources, Me croft said in reply to a question by Mr John Rankin (Labour): "Of our total importa, slightly 10ss than one quarter by value Canal came through the Sucz
and
IN ASSAM
Date Set
He set December 11 as the date to determine for a referendum
or approval producer approval of quolus. If producers approve, they will be eligible for price support provided they stay within their nereage allolments. On the same day, producers
will vote in referendum 471 corn, cotton and peanuts.
Mr Benson also determined
}
London Pepper Market
are
London, Nov. 12. The pepper market was quiet White Sarawak was quoted at 2/5, Bellars; Binck Sarawak sperial, 1/8, sellers; Block
the "two-price" marketing pro- Majabar, 217/6 December, per gramme authorised by Congreset, at 213/6, sellers. Uinjiet
10 ricas.
14151
will sununer
effect for the 1957 rice crop
In Excess
NAMESAKES
Answers-1 Christian, 2 Rome,
Under a two-price plan, the would support domestically used rice at 80 per 3 Conven, 4 Asia, 5 Capital, cent of parity and rice for ex-Flavius, 7 Govern. part of between 50 and 90 per Empire, 10 Command, 11 Ruler,
of parity approved by Constantine.
Government London, Nov. 22. A spokesman for the Burmah Oll Company said today that oll has been struck by their affiliate company, the Assam Oll cent Company. at Moran in the Volley
The strike of Assam was made at the first well to be drilled in this area.
The spokesman said prospects "only looked favourable, but further drilling can tell."
The drilling machinery is now moved to the second location and it is hoped drilling of the second well will be started at the end of this month.
Singapore
The strike was made 25 miles field west of the Nahorkatiyn Mr Thomeyeroft said: "Ob-
und the well had been drilled viously re-routing on this kind
to nearly 14,000 feet.-China of scale is bound to have some
Mail Special. in supplies Interruption some delays occur.
"But I am satisfied that these matters
are being handled in the best way possible and look- in the first nine months of 1956. Ing at our stock position, which doca have an effect on unem- Most of these imports, with the
I
reason exception of oil, came from ployment,
for immediate Commonwealth countries,
"Bonte routes are more affect-Ching Mail Special. ed by the closing of the canal than others and it is not prac- cable to make a general estimate of the totals which will be involved.
No Grounds
"I am confident that
in co-operation
traders,
with the ship-
ping companies, will be able to accomplish
re-
will Our
apprehension."
WORLD
RUBBER
MARKETS
Stock Market
Singapore, Nov, 28.
Borteo Petroleum Consolidated Tla Smelters
Ord.
Fraker & Neave Ltd Ord... Fraser & Neave 15% cun.
pret
Gammons (Malaya)
Itongkang & Shanghai Bank-
ing Corp.
+
+
*
*
瞻
u Togn.
P.OBIE&
E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Lanves London Dne Hongkong
17th December
Dotwneda
"CORFU"
"CHUSAN”
"CANTON"
Skiled
12th January
19th December
znd February
22nd February
Via Southampton, Colombo, Penang & Singapore.
Leaves Mongkong
26th February
Dun Londen
February
To be
Adylard LACT
Via Singapore, Penang & Colombo,
FREIGHT SERVICE
words 11th, Dec.
"SHILLONG'Gue
3th Jan *PINJARRA”due 7th Jan. duo 16th Jan. "SALMARA” duo 20th Jan. "SHILLONG"jonds 27th Jan.
for Singapore, P. Swet- tenham, Havre, London, Hamburg. Rotterdam
Antwerp
mouth,
from V.K.
from U.K.
from U.E. from U.M
Crange-
for Singapore, P. Sweb- tenham, Havre, London, Hamburg.
Rotterdam
Grange-
Antwerp 品
mouth.
ALL VEBRELS OUTWARDS AND HOMEWARDS WILI, PROCEED BY THE CAPE OF GOOD HOPE UNTTI, FURTHER NOTICE.
*
Brokers today quoted the fol- lowing stock prices:
Belu Lintang Rubber
Co.
Ltd
Britanti
Syndicate
Opening
$1.77
D1%
*
Homewards "CORFU" "CHUBAN"
"CANTON"
23rd December
18th Februny
20x2d
$2.18
$4
+
"SURAT”
Limited $2.02
$945
伽
$2.08
0.76
ELISEN
13
"SUNDA"
No. Res spot .......... Settlement house 1eris:
32-32)
New Berandah Rubber Co.
Ltd.
$2.03
Dec.......
3135-3196
Petaling Tin Ltd.
$3.35
Jon/Mor
3112-311
Rames Hole! ........
$2.00
Apr/June
301-307
Singapore Cold Storage
$1.421
July/Bepi.
2916-294
Bouth Belsh Inmannte Co.
nssure us
Oct/Dec.
2422-29
Ltd.
13.60
nol
General markets, cif bass, port:
Straits Trading
1079 interrupt
of
Nov
in such a way as to
Dec. Jom
Estate crepe thin Dec.
thick Dec.
41-314 304-303 3016-3091 37.5 30%
Straits Steamship
$15.25
United Engineers Ort.
10.70
Wearne Brow
⚫ exdiv mina Special.
$3.40
Mall
Exchange Rates
the local Business was done in unofficial exclunge market
this morning at the following rates: UB. dollar (per $1) Sterling notes (per £1) Australian noten (per £11
Indonesian
rupiah (per 1001 Slam Lent (per 100) Singapore (tralia)
the necessary routing in a way
which mduce the efects on suppiles to a minimum.
"On examination of our stock position, I see no grounds for serious apprehension about our Commonwealth supplies from countries."
Mr Rankin also asked: "Wil 0.44
that
аду 16.10 you
12.07 routing necessary will
the continuity
27.50
1,80 supplies
+C-
Japanese Buses
Sold
way
million, Duli. Prices drift-
T/O: lower. $630,000.
solling at $101 earlier In the Wednesday: Idle. Some shares yield ground. T/O: $287,000.
work, ank back to $100. Recent weakness
in these shares has
been due to the gradual disposal Thursday: Dull and featureless.
a large individual
of a
holding.
Banks have been very sick
recently, but this has been
T/O: $437,000.
entirely due to the falls on the SWEDEN RAISES
London Block Exchange.
if you care to work
out you
will notice a big difference be
tween Hongkong and
register shorea,
London "Hongkongs"
yesterday were $1,500, In
nt
the local
To Chile
Santiago, Nov, 22. The director of the Chilean State Transport Company said yesterday he is very satisfied with the efficient operation of the 300 giant Japanese buses purchased this autumn.
Returns Up
London, Nov. 22. The rubber market was steady with spot 4 higher at 32% pence. Prices:
The
AMSTERDAM
market WD9 steady. Prices closed today in gullders per kilogrom, clf December as follows:
No. 1 rubber No. rubber No. 3 rubber No. 1 crepe
2.03 paid 2.93 paid 1.00 buyers 1.50 pald -United Press.
London Lead And Zinc
London, Nov. 22. Metals closed in the after- noon session as follows:
Teb
Feb...
Bungkung Tin Ltd.
Kempas Li4.
Lames Rubber Estates Ltd. Malayan Brewerien
London Tin
Market
London, Nov, 22.
The tin market was steady. Al the end of the official morning ression prices closed in sterling per long ton ns follows:
Spot
045 buyers 847% sellers 3-month 25 buyers (127
Turnover was 150 tons.
BILSTA
The market was firmer in the afternoon with spot jumping 4% and three-months 8 points to 889% and 831% sterling, respec- tively. Turnover was 75 tons,
Closing prices were:
Spot 101-month
Each of these vehicles, bought sumcient brake adjustments and from the Mitsubishi Fuso Motor also to the inexperience of Chile Company of Japan at a total drivers with large buses, BANK RATE
buyer sellera cost of $8,038,000, seals 100 He explained that, in the bid- passengers and is authorised to ding the British company was Copper spot Stockholm, Nov. 22.
275 the German 3-month
Lead 2nd halt Nov. Sweden raised the bank rate accommodate 29 standing passen-eliminated first, London, Banks are quoted
Mann, was unable to give firm,
1102176 201 payment terms satisfactory" to Zine 2nd half Nov. about £001% or about $1,984 from 34 per cent to 4 per cent ECTS, today,
Chlic
and, besides, their vehicles The Commissioners of the
The copper market was firmer were too heavy and did not have with a turnover of 350 tons. Swedish National Bank Blo
tho desired. Lype of automatie
The lead market was stendier announced that a now 4% per The Japanese firm mode the rear shift. cent State loan is to be floated, sale after outbidding German, The US
with a turnover of 325 tons Willa, the zine market was firm- --Routed.
British and American bus com actually made the best offer, he with a turnover of 800 tons. panics. It had previously sold sold, but insisted on complete, United Press. 300
type busca to
payment upon, delivery-a con Ernesto de la Fuente, who is allon Chile could not meet.
-$181 lower, than shares.
Wo are
Gilts Yield More
This gap fluctuates between about $50 and $150. Because there is such a wide difference now
witnessing an evening up tendency, Bantenlly what has
happened La that London resistors have · Tallen much more than local resfieters.
To understand why let's take a look at Banit's competition in London
Brokers point out that 31⁄2 per cent, War: Loans are vièkling “a. net of, 5. per cent, (Aransport Shrebs, Over four pie cent, Con aola two-and-a-half, five par ont, and Consola four, about five per cent,
London
Foreign
New
Exchange
London, Nov. 22.
zater wire
Mack
Company
director of the Stabo Transport Eight Payments Company, sald that the economic
returns from the 100-passenger
៥
about 60 per cent
The Milkibinuk Fuso Compaery,
greater than the 50-person bei the other hanes, offered creal: T-12/10
vid capacity bunNEN pirrefiased entlier, termia boceptance
However, he noted that the Child's chronio, deilia buses have had some bad luck" 10 per cent at the ing netimi operationes horrare contracts):305)
very! rapid, and flight cone
structiori nick moversć bave HALO- || Azaren fered érishion Kid Foullisions,✨ Ho jetz
attributed those mishäps`to', In"
ZURICH FOREIGN EXCHANGE.
Bo Zürich, Nov., Banknote quotations (averago
of buying and wellbig prices) wero ley, un follow#7.
sellort 850 buyers 51 811 Duyers 832th sellers
--United Treas
London Wool Top Market
London, Nov. 22 Merino wool top futures steady, market closed barely
with a turnover of 171 lots.
Closing prices in pence per Ib. were:
BRITISH INDIA S.N, CO., LTD.
1850 - A HUNDRED YEARS OF SERVICE → 1858 "SANTTILA"
"ORMARA"
In Fort salia 23rd Nov.
dus 2nd Dec. snila Brd Dec.
"
from Japan for Singapore, Penang, Rangoon & Calcutta
from Japan & Shanghai for Sinapore, Pening. Rangoon, Calcutta Chitingang
P. & O./B. I, JOINT SERVICE
due 25th Nov, spils 27th Nov,
"IKAUNA"
*ISMAILA” due 3rd Dec.
salls 5th Dec
"IKAUNA"
dur 3rd Jan., salis 5th Jark
*
from Karachi de Bombay for Japan
from Japan & Haon- giting for Bingapore, Bombay, Karmani, Barab, Ichor- TAMANT Kuwa Dubet.
from Japan
Jor Singapore, Bombay di Katachii
EASTERN & AUSTRALIAN
"EASTERN" das 7th Dec, strand PCO., LTD.'
"NANEIN". alle 12th Dec.
Australia
for Bandakan, Rabruk. sin Brisbane, Bydney, Mal-
All visst have liberty, to call at any pora on: 'or,off the route às the routé, à salting are subject
to change or amendment with or without notion.
For full particulars apply to : MACKINNON, MACKENZIL & CO. OF HONG KONG LID. Telephone Nos: 27721-4.
B