1953-07-28 — Page 9

MESSAGERIES

2.O. Box 68.

Queen's Bldg...

Outwards

M

MARITIMES HONGKONG

Tel: 30881.

M

PASSENGER/FREIGHT SERVICE

Leares Barellire

"LA MARSEILLAISE" salled

VIETNAM"

"CAMBODGE"

Homewards

"VIETNAMI"

"CAMBODGE"

Hongkong

1-4 Aug.

THE

#algon Tokohama

Balled

0-11 Aug.

... July

20 Aug.

Leaves Honkong

bue Mariettivi

21 Aug.

Bagon

...22 August

10 Sept.

Saigon

...28 Aug.

20 Rept.

Яalkon

"LA MARSEILLAISE", August

vin Marseilles to all Mediterranean & West Africa ports, via Djibouti 10 Madagascar.

FREIGHT SERVICE

1.onyes

Hongkong

For

31 August

LATES

Hongkong

Japan

Vot

Kelts 2 AURA

"COURSEULLES"...Europe-Ralled

Ontwards

Homewards

"SILVERSANDAL"

"MEKONG"

SHARE MARKET

(From Our Correspondent)

THE CHINA MAIL, TUESDAY, JULY 28, 1953.

Businers dont on the Stock Exchange this imbening bandant- bd to $442,302. Ndoa quotations and 1 te morning's trans- retions:-

SUAHES DUYERS KELLER" SALĖS DANKS

1 Bank x 1830

East Asi

INSURANCES

cantah

Union

Ink Fire

| LONDON STOCK EXCHANGE

Interesting

Crop Of New Issues

(By Norman Chump, Sunday Timo, City Editor)

The approach of the holidays has been heralded by an interesting crop of new issues, 2018 possibly inspired by the knowledge that issues ärising out of the denationalisation of iron and steel must, in all probability, now be postponed until the autumn.

161

BOS #121), 160

BHIPPING.

Ama Nov.

1.40

1

DOCKS, ETC.

K. Whart

Dock

100 Ń DO 21.00 22.10 22:00 23:00

Provident

.. 12.30 12.30 2000 10.20

2.00

4 August .Keeling-1 Avens 20 August

"COURSEULLES” ....Keelung-4 October 5 October

Salgon, Marseilles, Aiglers, Oran, Tanglers, Casablanca,

Le Havre, Antwerp, Rotterdam & Dunkirk, Subject to change without notice.

EVERETT LINES

EVERETT ORIENT, LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Rangoon, Calcutta and Chittagong.

"REBEVERETT"

Arrives Sails

Shai Dock

Wheelock

LAND, ITC.

FC Bot

UK 1

S'hal Land. Humphreys

UTILITIES

Thom.

P. Tram (0)

500 1

On the whole, the crop is a good one, and it 8.00 20 1000 5.00has appeared in a reasonably promising market

5000 21 0,03

0.10 0.20 2000 / 5.10

1.00 1,70 5000 t

1.01 18% 16.90 300 43 18,69

P. Tern (N)

1

Star Ferry

180 120 125

C. Light (N) 4.70 0.0 2000) *

atmosphere.

10

Ameri-

be surprised if there is There are, of course, une or shall

The

American recession, two polits of anxiety. June trade returns could have least until the middle of next

Mr Butler's year. 2523.40 400 23.20been better, and

latest warning ou the

This is of Importance to us, 4211- of exports is fully when we remember that In 1portance

On the other hand,'

nd, 1949

It took only 4 molerate C. Light (0) 12.60 12.70 400 et 120 justified.

400 12.00usti

can American recession to cause one underlying market fear can 300 12.0 1000 12.00 be put on one side, at least the devaluation of the pound.

This is the But granted that the until 8.78

the mo- 's. for an American trade re-can barometer fear of

ment at "set-fair," the recent cession.

attrac- "Monthly In its

Re-hew issues have their Intest

tions. view" the national City, Bank quotes ample evidence in sup- port of its theory that Amer!- safely business is How

In particularly glad to see established upon " high that they include a number of plateau." The writer admits that industrial tlebentures, offering

aum

Electrid Macwo Telephone

6.70 2033 0.70 27.00 20 2000 27,00 Elec.. U

2.30 630 24.30 200 22.49

$

Yokohama,

INDUSTRIALS

Cement Rope STORES, ETC.

Dairy

...... 23.80

..... 10.60

Watson

24 1900 @ 24.

Crawford

Penang. Calcutta,

COTTONS

Ewo

July 31 from Singapore, Aug. 1 for Kube

"LENEVERETT”

Arrives Sails

Aug. 3 from Manija.

For Singapore, Aug. 4

Rangoon

(Accepting earzo for transhipment Kobe/lusan and Kobe/Okinawa)

EVERETT STAR LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi, and Persian Gulf Ports.

LÀO"

Arrives Sais

July 29 July 30

from Japan.

for Singapore, Port Swelten- han, Panung.. Madras, Colombo, Bombay, Karachi, Khorramshahr, Basrah Bahrein.

"STAR ALCYONE”.

Arrives Salls

Aug. 21 from Singapore, Aug. 22 for Noha & Japan. (Accepting cargo for transhipment Kobc/Pusan and Kobe/Okinawa)

&

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephons 31206, Chinese Department: Telephono 28293.

PENINSULAR

QUIS HOS SEPARABIT

232000 300

000 or 27.99 200 23.

24 241 200 6 24.35

2.00

Textile Corp. 5.75 5.00 2500 m MISCELLANEOUS

Yangtze 0

London Not Affected

London, July 27,

The news of a truc: in Korea failed to materially aftest the London Stock Exchange one way or the other. The truce generally has been discounted throughout financial circles.

were

However, market men pleared that there was no heavg selling by those who said an end of the war means an end of the boom.

In the hope that a Korean truce would mean increased trade with Red China, speculators bought

can

next year.

DEBENTURES

current activity is partly due to yields of around five per cent. transient cares, including the in buying them, the investor

replenishment of sleel stocks should se if the current

ufter

lost J'war's strike, and market

the seasonal demand for

Again the holidays may cause a drop in production.

Nevertheless the demand for both capital and ts maintained. consumer goods Fer these and other reasons, I

New Zealand

Prics

stands above the the price. If it does,

Is reduced accordingly, and there is also the possibility that the terms of issue include the right repay by drawings at relatively early dale,

The leading debenture Issue of the past

iew weeks is the English Electric issue of 414 1072-77, debentures,

Semblion yield

per cent

to A

at 971⁄2. At its issue price, its yield is £4 13s. Gd. per cent. Fur those who

Japan To Approach UK

Government

Japan will shortly ap proach the Brillsh Gov- ernment with requenta for another dollar-sterling ex- elange swap to relleve her current sterling aliortage, and also for a farther re- laxation of Import restate- tions by sterling nations on Japanese goods, accord- ing to the Japanese For- eign Office,

The Foreign Office salil. 14° planned to direct the Japanese Embassy in Lon.

the don in

Very future to start negotia- 1 Hons on these matters. declined to reveal further delšíis, but press reports. said the amount of the new exchange suap to be Rought by Jaran would be £10 million while Japan would also seek“ á farse months extension of the fra swap

inst authorised Aptii, reported to amount to £25 million,

The Japanese Ministry of Trade, ineanwhile, sald Japan's sterling irade wäs in kerjous danger of con- traction, possibly neces Eltailng etits in Javanese Imports in October, unless sterling nations further Jaxed

Page

SHIPYARDS GET ASSURANCE FROM GOVT.

Increased Steel Supplies

The Government Inter:Departmental Com mittee, charged with the allocation of steel plates, has informed Sunderland shipyards that they may expect some increase in their supplies of steel.

But the shipyards in the area are still con- cerned with the question of whether deliveries can be assured.

KRA

CA

Bald the general manager of ane yard: "We have become sa accustomed to the announcement. of an allocation for each quarter of the Yesis which bore na zèlation: the amount of Heel we could oblain that we feel the besle problem is whether secure mcreased supplies from the sleeknators. We dizve been told that extra suppiles of plate will come partially frem creased home, production from the 10.000 tenr of Austrian slect which is being knported. But so far there is no sign of an Inedite Improvement."

in-

anJ

that

A Quiet Day In Cotton Markets

New York, July 27. Colton futures trading today through another ex-

went septionally quiel session.

Cotton futures in New York

to eight points higher. Elation over the Korean truco was tempered because it was ex-

The spokesman added their Import to- strictions. The Miniatry although the position was slightly better then it was last year and alas said that a, mukgestion

early this year, the shipyards closed one to 13 points higher, from Mr Kiyosuke Okaba,

needed a big uplift in supplies if and New Orleans closed three the Minister of Trade, that Japan use dollars

they were to achieve maximum ta

they production. Nevertheless, Binance Imports from the sterling area lidd met with haped that the Inter-Departmental Committee would be role to strong opposition-Reiter,

ensure a Holdon belviech steel-pected and traders walled for makers and shipbuliders so that the outcome. shipyards might obtain their conference share of the steel plates available. of hostilles.

સો

The monthly Meanwhile,

Rc- Crop news, export develop- meeting of the Northem

for Industry ntments, textlic market activity: gional Board

the usual run of price- JILS, and Captain Newcastic,

Regional shaping factors were obscured Admiralty

arly for me time being.. too carly Officer, said i was

to say

U.S. PLANTS

TO BE

CLOSED

Washington, July 27. Oficials at the Reconstruc- spid tion Finance Corporation today that they plan to close down at the end of next month which produce plants about 100.000 tons of alcohol butadiene per year for synthe-

le rubber.

Keeps Her better Steld want a slightly their

reasonable

Promise

i

teral conference

gan

a per

security, I sugitest the Tecale- mit 44 per cent debentures, 1073-78,

at 24% now quoted premium on their issue price of 09: or the impending issue..of Marley Tile & per cent deben- Wellington, July 27.

tures, 1958-17, at 99. Unsecured New Zealand has exceeded

stocks. offer

yield the ber promise to

1932

to around 0

cent, Commonwealth finance minis

here 1: suggest the to live within

Taylor Woodrow her. Income during the

cent, 1900-00, stock and 34 'ended

1953, June 30, achieve a surplus of £25,000,- offered at 08. Applicants must also take up a proportion of

"for. help. If they are sold promptly, they should yield a pront equal to three points of the loan stock issue price, which would thereby be reduced to 95.

year ending

per

shares of the Hongkong and 000 with the non-sterling area, lördinary shares, but this will

Shanghai Banking Corporation heavily.

Chinese bonds were marked up but suffered a setback of thà finish as Investors and speculators alike decided to wait further. developmenis.

Japanese bonds

"A" (48. of 1893) 834 *" (45. of ID10) 71 "C" (55._of_1007) 122 "D" (55. of 1924) 144

60 0/16 "E" (545, of 1930)

United Press.

& ORIENTAL Grain Prices

STEAM NAVIGATION CO.

R.M.S. "CORFU"

SAILS:

NOTICE TO PASSENGERS.

BAGGAGE:

FRIDAY the 31st July at 12.00 noon for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Suid.

In Chicago

Chiengo, July 27, Prices of grain futures closed today as followɛ-

corts!

Spat

Dec

March 1834

Wheat-(No. 2. red, per bushel in

100% Sept. 109 3/0411) 20766) 1974-9,

203 207-1 200- May Com-(No. 2, yellow, per bushel

158 24511

in cents)

it was announced lay.

Balance of payments figures released by the Reserve Bank show New Zealand's surplus with the non-sterling area for the period as £38,423,000.

had a deficit New Zealand

For those who prefer equities, with the sterling area of £1- 741,000 making the overall the new Englsh Electric, De balance for the year £34,802,- Haviland, and Commercial Bank 000.

of Australia shares have their The sterling area figures in-attractions. The Inst-named cre chiled a surplus of £21,445.000 111 to be lesued. It such viti with Eritain and a deficit of with fairly good propects but a passible degree of risk is wanted, 23,303,000 with Australia. The most important factor attention might be given to last contributing

the "very wock's Berry Wiggins fisure. favourable improvement in the balance had been the 1853 reduction of private import by

ما

PROBLEM OF "BIDS"

The vexed question of bids for

£95,000,000, the statement said shares namains prominent. Some

Reuter.

Tax Measure

Approved

Second Time

ten

days ago the chalamar óf Prices Trust agreed to sell his shares to United Drapery Stores at 30s, each, and the board recen- mended all shareholders to accept this offer. A few days later the Anglo-Federal Banking Corpora- tion, acting for an undisclosed Ellent, offered 31s. a share,

that

It became known the United Drapery Stores offer had been accepted by the holders of over 50 per cent of

The French National Assem- the Prices Trust ordinary shares. bly has passed for the seconds the rival offer was conditionci Minister, M. upon its acceptance by holders of t'me the Prime

atleast 61 per cent of the shares, Laniers bill for new taxation to meet the country's Bnancit now falls to the ground. On the whole, it is satisfactory that The

Assembly's things have worked out this way. diMculties.

changes Vnie over-rides

The price of 30s, is reasonable, by the Council of the Republic, and the fact that is Unked

upper house of Parliament

Drapery

mude

ned

Finance

is part of an economy This

it was explained. programme. At the same time officials denied reports that a change in price of synthetic rubber was plan- They said that they plan no change in the price of 23 cents a lb for both alcohol and petrolcum-based types,

Thic

Reconstruction Corporation has been losing money on its synthetic rubber produced from alcohol but has overall profit on its rubber programme, the great bulk of which

from comes petroleum base, it was ex- pinined. Only two plants ure to close Involved in the plan down

an

alcohol production August 1.

the

on

it

On its overall rubber pro. gramme, the RFC has made a profil of about seventy million dollars.-The-alcohol-producing plants have been closed beford

when and then reopened sccmed advisable from the supply standpoint. Officials said alcohol produced recently or in the close-down process would be stored for possible use-United Press.

future

Sugar Prices In N.Y.

the

Habrics,

yet

whether tho do

control of steel had had any

of the political

io follow the end

Cillef interest now, centres

great effect on the shipbuilding summatics

on the Government's crop

to be issued in the

and shiprepairing industries in the area. Plate makers, how-meantime. Crop experts thought ever, had been asked to allot a tomorrow's Government Weekly would be on the somewhat larger proportion of Bulletin their available supplies to the favourable side. shipbuilding industry.

Prices of cotton futures were

given as follows:-

Spot

It offers Uct.

Rapy July Oct.

Dec.

STILL THE CRUX Stoci is the crux of the production problem, another sidelight on the ques- Doc.

and full | March 1954 tlon of cancellations

Indeed, theso order books,

inter-related it questions are not all tart of the same prob- Icm. Mr Wingfield Digby, Civil Lord of the Admiralty reesally said in Parliament that it would be absoluidly wrong to attach ghy special significance to con-

time. Cose cellations at, the present Shipbuilders do not attach any special significance to them, but set. Bri Dec. them as pointers to entual reduction in shipyard March 1954

abay. belivity and it is in looking at DIE it in that light that they. concerned. Especially

23.04

24.18-17

34.30

SLA?

34.24

33.30 horn.

United Press,

33.83 nutr

NEW ORLEANS FUTURES New Orleans, July 27. Prices. of collon

today as follows:--

because Dec.

basis

of the uncosy, cold-war on which much of the demand for ships was founded they do not

the

expect it to continue at high level of recent years. But they do

futures

30.10

74.12

34.23

35.44 EU

-United Press.

SAO PAULO FUTURES

Sao Paulo, July 27, ・・

Prices

of

colton

futures

Vhquoléa

1036 10,80

hope to remain cont insist that more raw material August petitive and to that end, they closed today as follows: must be made available. Only In that way, they say, can they bec.

March 1034 speed delivery, lower building May both home and forefer coats and attract the trade of y

owners Who require new

To point up the key

Rey Position which steel occupies in all these questions they are telling In shipbuilding

circles the st. This

story

the

man with a Netlilous character digested

the

remarks lo the effett that the industry was in a pros perous position because it had four years work on the order books. He redsored correctly,

oil the four years Backlog

United Press.

The Rubber

Markets

Singapore, July 27.

of orders was largely a result The rubber market was poor of the steel supply position. The during the morning session but less steel dvalable, the longer rallied slightly in the afternoon. construction timme must be spun | However, this was not main- drt.

tained and prices closed off in the afternoon. Prices were no follows;~~

No. 1 Rss per Ib, July

August Bept.

Having gone so far, the man was carried away by his reason- ing. All one had to do to make the industry twice as prosperous wie to cut the present supply

would No. 2 rubber per 1b, July. of steel by half. That

'put cight Immediately

No. 3 rubber per 16, Ju years, Na, 4. rubber pen lb. books. of work on the order

Spot rubber ufibaled Shipbuilders are amused at the blanket, Crepe

to No. 1 pate crepo story. To then it appears. have an unlocked for moral: In the shipbuilding industry, the anloker, seems to veo the least of the game. Reuter.

New York, July 27. World Number Four sugar closed today eight 10 ten points Jower with sales of 88 con- tracts, Domestic No. 6 closed one point higher to one point lower with sales of 60 contracts. In liquidation the world con- tracts found an indifferent trade demand, Domestie futures were quiet and featureless. In world

dealers

underslood TBWS,

50,000 tons The National Assembly pass acquired control should ensure Uruquay purchzed

the continuity

from Brazil for delivery October sto of the business,

of through April next year. Also The offer for the shares ed the bill as it was presented by, the Government by 313 Slaters and Bodegas has fallen the British Ministry of Food was estimated to have pur- Aneuntes to 266,

down, largely because the pro-

50,000 tons of Bome Previously the Council of the down

pent board

were not ready to chased

Java refined sugar for the East bushel In Republiq passed the bill will

out most of the new taxes ask-co-operate. Here they have my ed for to secure future loans to support. I do not like this new Africa colonies. Futures were:

Contract No. 4 (world) the Government from the Bank practice of block bids for shares,

for of France,

Spot Ampl.

Der.

March 1954

14411-2 May Bye (Prices per bushel in centa),

1231- July

120 Sopi Oats Prices per bushel in center

July Sept.

cents)

Spot

24 17954-19 Soyabean Prices, per bushel fn carlier,

sat nom.

2323

the

Sopl

Nov.

Jan. 1051

2001

March

May

Passengers are requested to send ALE baggage to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 Gate, CANTON ROAD ENTRANCE, by NOON on Thursday, 30th July, 1953. SPECIAL NOTE: With the exception of hand packages

carried by passengers themselves, ALL cents) BAGGAGE must pass through the Wharf Co.'s Godown for loading dn board by ship's slings only. BAG. GAGE COOLIES WILL NOT BE PERMITTED

WHARF.

TO

Barley Prices per

Spot New York Boat-300 $12.70.-United Press.

130-160

ib. sack.

ENTER THE London Foreign

EMBARKATION: Passengers should embark between 9.30 and 11.00 a.m. FRIDAY, the Bist July, 1963.

BUSINESS

REGULATION ORDINANCE 1952

Copies of the prescribed Forms 1 (a) 1(b) and 1 (c)

Now On Sale at S. C. M. Post, Ltd: HONGKONG AND KOWLOON TEN CENTS EACH

.

Exchange

New York Montreal Amsterdam forumels Oslo Zurich Copenhagen Parle Stockholm

Deutsche Mark

Blocked Mark

Others Press,

London, July 27.

781-5/10-201-8/10

1.79-2.791

10.3815-10.581

133.93-110.03

10.34-10.34 177344-97178

14.50-14.30 11.0014-11-6515

1978-19.70

were unchanged-Unked

Stones wha

have

March May

Commilice had earlier cut out one good negotiations, with July

it

September : is liable to turn October The Upper House's Finance a births the continuity of

have January (1954) out of office directora

Who and, while of the oil the increased alcohol and petrol taxes on which M, the allendant

ore in progress, September Laniel and the Finance Minis their rumours,

create fabe, mar- ter counted to produce about it is irble

of the kets. Still this practice has 20,000 million francs

rate to Finy. I should like to 30,000 millions of new revenue

The Upper see the formulation of certain wanted this year, House adopted is Committee's "rules of the game." ** version of the bill-Reuter.

LONDON TIN

to

1.04-23 J-60 3.00 3.45

3.45 td

3,45 td

3.45 bla

Spot (cents per lb. fo.b.

Cuba)

3.45

Contract No. 6

September

November

8.03

January (1054)

March

8.80 路

May

July

September November

5.00

3.92

United Pres

First of all, the directors of any company concerned should make no statement at all until they know the name of the real

Spat (cents per lb. c.ft, NY bidder and whether or hot he can pay for the Shares, If, howex-dock)

Thakes

hia ever, the bidder

then the directare posal public, the London, July 27. lower levels, Spot was marked should include

MARKET

that

they

...United

LONDON MARKET

London, July 27. The rider, market was steady at lower, levels with No. 1 RSS 15. prices were as follows:

LARGE CROP spot quoted at 18% pence per

EXPECTED

Washington, July 27,

·Commenting on the botton screate report, whren allowed 24,000,000 acres th cultivation in the United States do July

Bald if abandoliment

the. Department of Agricultura

natural caudes s the same na

Spel

Balticment

Bustness

1815-19

186-TITL 1814 10 15

market on cit basis Estate crepe August thick unquoted

thin

NEW YORK MARKET

New York, July 27. Rubber fitures, előred, toddy the average for the past ten 20-40 points Tower with sales at years and if the yield per

71 contracts. Futures eased with harvested were is equal to recent the primary market with thost large crop of the business represented in averages,

chin operations. rusted no, I 183 at 1916. dut tligt the heredge in cents per ib. Tridem idoltad az

would be a Hepartment

However, the

The un market. was steady at must issue a statement and the NY Stock Exchange Includes about 1,500,- j the Korean fruce Bbws with Tittis. Exchange Rates down 11 to 2808, and free lampw. They should do

Business was done in the trims this

market

Unofficial exchange moming at the following matoes- U.. dollar per 31) DOB

note 4per Giliw

1$90

. guskter (Der, 100) 10.30

Biner Lisoka (ver. 199)

Singapore (Heroita)

'FIC" plastres (per 100)

hortha down to £507. Prices to clobet as follows:-

MAN sellers

Spot. tin, buyers

Business

870. 670

Three months tin buyers 60775

sellers $70

370-5701%

United Press.

"músiness"

1892

Settlement

their best to disunguan between a bidder continuo the Who

new businear, perhaps, with idens, and one whose main ob ject is to snatch a quick pro- nt, Directors, who receive bidk, must realise that their primary duty is to their shareholders.

New York, July 27.

Dow Jones closing mye:zzes on Wall Street werd as follows;

30 industrialz

•13

utslitics

43. bonds

wi

di `vtocks

Comm. Prices Index"

000 seres of land on Which surprise, and gawalled detdloge.

Bech cotton loro, continus, to follow, Patúrès pricinas (.

planted but

wha ments at the political conferetet

much, of

in

ziót üb... tion of the 100.10 the Southwest, and further in

pretares in wegyll infertation in 104.94 the Eastern cotton belt States $109 could also couse larger abandon

mini-Reuter, United Press.

Marcki: 1904

July