1955-02-15 — Page 9

Page

TRADE and

THE CHINA MAIL, TUESDAY, FEBRUARY 15, 1955.

COMMERCE

AMERICAN ECONOMY

HEARINGS POSTPONED

Washington Feb. 14. Public hearings ori the recent Fixe In th stock market tiginally scheduled for next wer -will be postponed waill eally Mare

21 in

all that the Com- mitter wishes to catlice Information-United Press.

High Level Steel And Auto Operations Highlighted Markets

By JOHN MORKA

New York, Feb. 14.

HONGKONG STOCK EXCHANGE badership on Tuesday. The lack of trouble in the Tachen evacuation

The high level of auto and stel operations and the resiliency of commodity and stock prices despite mounting international uncertainty Stemming from Formosa and Moscow highlighted the U.S. economic picture last week.

From Our Correspondent

Flo

Nak

ing an

True, prices faltered presuma y un news of the Moscow switch in

Com-

and the eienation of Malenkov were advanced by some observers for Forday's selling off which saw price cluse 1 to 4 points lower. modity prices moved narrowly lower.

Ji

|1|

P

NAZHEIZ ME

་ ་་

1

!

Devon

4139-

maite any thre weghout the The Traderably of pattern that would Foods and rafts, palee difference to the market

The feeling & Fur & the uns! day at

arming Beancial Jane Wall Streeters Lexperts here is that market and

discounted | rommodity have generally

prices are for the Armada nal pressure as the over- most pari now bring guided by 25 ruling farti behind market be- | domestic rather than foreign

developments

SEARTH ISLYERS NELLEUS MALEN

BANKY

JIK

M

INSVHANG IS

441

Labora

2140 ***

I

K

K WH

1

251

14,4)

1 g • Drvo

LAND PR

Jik

del

VRHLITIES

ד יד

6 3.1

Berry

11

SECTION

Onassis May

Sell Tankers

Hamburg, Feb, 14. The Greek shipping Arfalotle

Mr

marunte Onassis may sell 45 oll tankers to Saudi Arabia, it was disclosed here Inat nixhi

Dokeman for Onamls' Olympic Marilmo Com- Hany at Hamburg saich tonight that the ship. owner planned to nego- flate the malo DI the tankers, totalling 1,000,000

tons at the end of this month with Saudi Arabian representatives. France- Presse.

World Cotton

Markets

uncti

NEW YORK

STOCK MARKET

New York, Feb. 14. Trading in, stocks was

affair to- highly selective

up

day, with special issues sharply while the main body of stocks declined fraction- ally, on profit-taking.

Industrial stocks were knocked down 2.00 on average, reflecting sharp declines lu a handful of leaders-Bethlehem Steel 2. Corn Products 1, Du Pont, 11⁄2, General Motors 23%, Johns- | Mihvlile 3, Standard Oil (N, J.)

1.

Rails ran up a few cents on AVсTAKO,

The big news was in the so-

called special JESUCs. However,

Ji

General Dynamics, maker New York, Feb. 14. atom powered submarines and of Liquidation and transferring aircraft as well, soured 53% points of the nearby March contract to $118%, Bath Iron Works ran dominated the cotton futures up 2 to $47 on rumours It will market today.

merge with Dynamics,

Ex-Cell-O

climbed 2 10 $104% on a two-for-one stock Split

Increased arch

dividend!

10 sharply near rf approval of plans

quire two companies.

Babcock and Wilcox moved Otherwise, trading lacked up 37% points to $87

had it the Company feature as deulers marked time rumours

foreign political de-will

the

contact IC pending

Exinon's velopments or some other new Consolidated

Edison energy power plant. ruse to $51.

This artion on nearby March brought heavy liquidation pres- sure en the entire st United States, 1

prices

were off pute produrtion will hit na all- the close. unte record high of 168.160 new automobiles this week.

Automotive News, the trade, daily, said the week's production will shatter the all-time high of 805,800 cars turned out in June I was beinitted by some ex-| General Motors, for example, of the boon year of 1950. erts that the Russian metdent is furnishing an antidote to the paper predicted the record pro- Poured as a

excuse for some! Russian news with its new stock duction this week would be the sellatenka.

That the experts issue invaleting over four million first of a series of new weekly

shares cd the market har muny other

on 1-for-20 subscrip-records set in the next month used to delite without even tion basis. And there were two and a half combien ing sa I had been "over might splitups in stocks-

The

|

incentives.

At the close prices ruled four to 22 points lower. The market opened up 2 to off 4 points. New Orleans futures finished 8 to 10 Points lower.

The first notice day for nearby March will be next Monday. February 21.

Certificated stock of all cotton February 11 rose 1,120 bales to 71,036, a new high for

the year.

STEEL HOPEFUL in Westem alon Pure two- for conn fur

Meanwhile, the steel industry-

that might be 9 l 11340 setit

stocks; was hopeful

operating at more than 10 per if jevnt of dupurity in a few weeks some more spiltups come along Demand has been heavy from tro uniberiputed. IU S steel users. The market could well go Injoy been a tremendous new high ground

Courier to he

4

15%

Cod,

TAKMI

:

Hughs withint fur-for-one

A Jou radmand pains

12.11

wapat Jest to lake. thers Bera wes talk of lightn credit and higher morguns

24

which

Soarint

Ace rdingly.

NO CHANGE

!

in the tancial dia. No Frict anticipated ony change in

The overall Ilusion political

1470

14

at org

1, in 21 40 41 20 MA

40) 124, 173 1

147, 14 10 244M4

LEAR

11)

2130

Flemm

17

Elve

1212

1

17

200

14

45 70

44

30.20

ENDUS PREALA

Нторина

STOJUS, ETC

{r}

***

2341

1140

I.

13

Chicago

that haven't

weer

H

Wax fell.

orders fholled

Total

Volume 10,100

33,100

Opet teresi

415,400 1,140 700

20000 20,100

208,800

232,200

3,500

138.400

2,300

83,100

4,100

BG.100

200

2,100

100,300 2.810,000 baica,

NEW YORK

Trading volumes and open in- But there has erests in the Exchange today

nickup in were Month and March for semi-finished

from abroad, prin- | May CONSOLIDATION

the market ripally from Great Britain, West July, it is explained

Detaller December to be in a process of Germany and Italy

With

US tac

clydian | March cnsolidation under the cover of Grain

individual stocks. Market prices eroruzny causing the steel ingot May are about the same level they rate to approach 30 per cent of fest trading day of capacity, a serious turn in inter- 1855. This consalidation period national events would create one iny take a bit more thine, u laof the highest steet markets sluce

Koren, the National Metar |

us follows: says working Weekly noted,

Spot war, The Formosan

crisis and March Russian emphasis

war-May 2109 also expected to production is

October attract orders from steel users: December who perhaps have allowed their March ment of future business prosparis. Many anticipated the export de-

Inventories to get too low. May S bad autos--hulwarks of Or

would probably remain US Leonomy-continued but shmand

Street's Intuition Wall there isn't going to be a ! some experts explained

The strong surge of activity in considered and cules D Lighly important in tny usscas-

Prices

..

(lucago. Feb 14 Puters per bushel in cents

Clusing

hell

bees!

Wheat, Nu. 2. rrd

Man 725th 221WE

44 45 4

July

211 2134

Now

21324

!

Corn, No. 2, yellow

Sipicat

Mist

131

M

164-1613

1923-

teks

A

POTEGNS

Trakles

MISCELLANEOING

Allied

א!

Singapore Stock Market

+

He..

152"

13

NA

Rye

Mul

Mus

<

70

Mar

746-

роблоз

Soybeaus. Nu. 2. yellow

Speat

Shugapore. Feb, 15

Ma

274 270-270

leafy the fol

Miy

July

Sept. Nov

Spot

dour

327-

22.

20/01 31/0

31 17

30

$107

$3 (K)

27214-272

20645-208

2501-200 240

1940-1500

114 GOB United PreA).

New York Foreign

lowing tok priesto

Brush Naruto. Petine

ala Srodavate Commolidated TIB

Smelter. Ordb

Feb 14 Feb 15 Barley. Cin¬ting Op

Pre ord Neave Ltd.

Ordinary be Fraser and Neave Lad,

25%

25 akong & Shanghai

Bank Computation (Colonint Huginter Mulayan reweites kaffen Hotel Singapore Cold

Si roge South Bruasda Insuronets Straits Trading

Stratis Sleanship. United Eng.nevri

Ordinary true

DE 10 MIL 50*

New York flour

209 13 ch

Wearne rollers

Pelating Tin

twith div.

4)

$1

$270

נע $

Exchange

New York, Feb 14.

..6102 11

283-257 Detal

Convidiam deller

$400

$270

21 03

{"1"

gla

326 20

$20 20

sza 10

625 spelt clone

$10 G0

$10 BU

5 W

$13.70

513 70 Future

3

$2,03

52 07

A/30

0/3d

$1 (127 33 051

cum-div. Cuni-capital issue

-China Mail Special.

Exchange Rates

Busybos

was done in the local unoticial exchange Inarket this nurning at the following rates:-

Sim Heals (per 100)

90-day 6-th

as

CEMENTS STRONG

Cement stocks were n strong spot.

Bulova Watch soared 7 points 1 $62 in a firm watch scefion. Steel shares moved lower.

л

Along with the sharp Kamp In General Dynamics Chance-Vought there were few wide drops in aircrafts. Hell Bendix lost 2% to $110,

were

144 to $334.

Out of

a total 1,245 issues traded, 508

higher, 4983 luwer

Turnover of 2,950,000 shares the lightest since Feb. 3. And compared with 3,260,000 yesterday

was

Demand centred in low-priced issues-Hupp Corp., up to $74; Graham-Paige, unchanged Prices of futures closed today at $2 and Electric and Musical

Industries, off to $4%.

The

New York Stock bond volume

July

ORLEANS

33.00m 34.44-45

Ex-

35.00

34.77-18 change

was

39.02

$4,755,000.

15.00

35.12 19.30

The American Stock change volume wax 1,200,000 shares.

EX-

NEW

Prices of futures closed today

as orders culpted production. (so heavy that excess ingots from With many malu deniers report-some American steel plants wili

shortage uf

rars find their way abrond in the as follows:

near future, Iron Age predicted. B

new

World Rubber

The

Markets

Singapore, Feb, 14 rubber market opened quietly steady and eased of

because of pruit- 1 later taking.

ELSEWHERE

March May July

October December

1

March;

May

July

Colton

DOW-JONES AVERAGES

Dow Jones closing averages

on Wall Street today were $6 follows:

30 industrials

34.20

34.41

34.75

35.00

W ralis

34.09

is under

33.04

15 stocka

35.27

40 bonds

14.34

1522

LIVERPOOL

Comm. future price Index

YESTERDAY'S

Ali Chokers

Elsewhere in brief: Unemployment showed seusonal increase while con- struction outlays reached NOW highs. A total of $2.800,000,000 January-13 per was spent in jernt above the year-ago level.

1980 Unemployment million, an increaso over the January layolts Seasonal Christmas buying reason some temporary slackness in the construction business and other lines was behind the job drop.

Coffee prices slumped tus American middling, week us Brazli

took

steps to re

18/16th inch rapture her coffee market in the American 8. L middling

boosting Mexican middling, By 101-104 United States.

subsidies to coffee exporters, to boost exports June have been 35 per cent behind the

levels.

futures closings, Alden Inc. Acy. to

3.3 Americon middling, 15/16 inch, Allied Chemicals of 500,000 in pence per lb.

were as fol- American Airline 1953 period. Jows:

afler the Mar/Apr. and May/June

The market

opened slight with steadier in the afternoon some selling towards the close. Future closings:

No 1 rubber per Ib.

Sellera

102 23/32

102 13/10

Feb. Mar Apr. No 2 rubber per lb.

Feb No. 3 rubber per 1

Feb No. 4 rubber

per lb. Feb. 1.02 41/64 Spar rubber unbaled

Blanket crepe

30535-105*% 1034-103

unquoted

10216-102 Brazil hopes

101-102 100-10314

14-93

102 35/04

10 37/4 No. 1 paio crepe

rate

Buyers

$: at 50/04

102 39/64

102 34/64 1.020/44

United

103 41/64 1024

1.02 35/04

PETR.

July/AUR.

Det lov

Dee./Jan.

33.23

32.20

American Metal

American Snelung American Tel & Tel

29,109 American Tobacco "B"

Anaconda Copper

31.04 31.94

Oficial values for pot cottons include:

32.07

3th Inch 20,67 1-1/32nd inch 34.45 SAO PAULO

Futures closings, in cruzeiros

100-101|ording to the Wall Street per kilo were as follows:--

Mar.

drop has consumption

May

July

perhaps one-

Oct..

Dcc.

2000

30.50

30.25 31.60 31.00

Mmco Steel

NAT

Baldwiá-Lima Hamziton Dalinore & Oldo Bendix Aviation Corp.

Benguet Cons

431.39

165.00

03.02

152.07

100.23

100 02

PRICES

Feb. 14

6 201

(773

Demichem Steel Boeing Airplane Canadian Pacific Radway Chae (JL) Co. Chase National Bank Chile Copper ... Chrysler Motors Commercial Credit Commonwealth Elec. +Consolidated Edison

Continental Steel Com Products Crane Co,

NEW YORK Futures closed today 110 to Journal, the price 155 points lower with sales of helped the U.S.

race "o recoup 128 contracts,

Cuban American Sugar Curls Wight ...... In the United States, The market turned weak in fourth of last year's loss. They

the Dupont de Nemours recken 1954 consumption was 12 average price of 18/18 middling Gas Mecake... active dealings on profit-taking rec

cotton at and lower London and Singn- per cent below

ten designated spot General Electric There were indications that markets today was 34.19 cents. General Motors pore cables.

The profit-taking was attri- some of the companies which Sales at there centres totalied Willette Safety Razor

that the purchased Government-owned 21-76-8/10 market was due for a technical synthetic rubber plants will sell 12,405 bales.--United Press,

London Foreign

Exchange

New York

Montreal Amsterdam*

Brussels

Copenhagen

London, Feb. 14,

30.89-10,00

130.2734-139.30

10.37-18.37 3%

20,01-20.01%

14.00-14.5AKL

buted to the bellef

correction

to 30% cents a pound,

Future closings were:

36.30

23.18

34.70

34.30

their GR-S synthetic at or near 23 cents a pound Spot No. 1 Ras fell 14 cents the present

Nom. level when they assume control Shell Chemical of the plants. Co. and Firestone Tyre Rubber two of the eight buyers of Co Government plants, have an- nounced they will hold to the 23-cent line. Another, Philips Petroleum Co., has set a price of 20 cents on its future pro- duetion.

US dollar per $11

3.90

Oslo

Sterling notes (per £1)

15.09

Faris

37019-07552

Indonesian rupin

(per 100)

15.70

Stockholm

Mor.

27.00

Markts

11.70-11.76)||

May

Sigapore (Strali}

Zurich

17.241-122454

July

0,25

United Press.

Sepl.

Dec.

Max.

L-Chan pinetres (per 100)

American Bank To

Open In

Singapore

Singapore, Feb. 14.

LONDON

33.70

33.20

The market WBS barely steady. No. 1 Ras' spot were quoted at 30% pence per lb. Prices: No. 1 spot ss ...

Sellement house term:

March

April/Juno

July/Bopt.

Det/Dec. ka

New York Sugar Market

New York, Feb. 14. World No. 4 sugar

futures

General Foods

Goodrich (B.F.) Co. Goodyear Tire & Rubber Kumstaka Mining Co. International Business Machines Internalanal Harvester International Nickel International Paper International Tel & Tel John-Manville Co. Kennacott Copper Lockheed Aircraft Leows - Incorp, kad Lone Star Cement Co. Minnesota Mining

Redlo Corporate

(closed unchanged to five points Montgomery Ward.

lower with sales of 05 contracts, National Cash Register

Domestic, No. 6 sugar futaires National Distillar closed unchanged to two points Natiorini Lead

points New York Central lower with sales of 33 contracts, Olle Elevators NATURAL RUBBER

Pacino Oas & Electric Further March liquilation Pacide Western Oil 304%-30% Meanwhile, competitive 3}}{

featured world futures. Notice Pan American Airways 30%-30% tural rubber, has been selling at featu

was posted

to Paramount Pictures on intentions 304-301 about " 35. cents a pound in

Philips Petroleum 90 March transferable Pittsburgh Plate Glove 30-3011 recent tradings. American rub issue General markets, elf basis, porte ber manufacturers, have been notices in the world contract to warning that American plants wil

turn more and morEL Future closings: 301-3045 synthetic for their requirements

unless

There Somo adjustment

Contract No. 4 (world) In the price of The market'was quiet. Pripes

Far Eastern rubb

growers May closed today. in guilders per have insisted that the Govern July

September on kilogram,

CIF Marchas ment pegged 23-cent price was spotem perde per its fob follows:

unrealistic

should be open interest 3.307

The Bank of America will open a branch office

in this Crown Colony in the near future, it was disclosed here today.

February

pr

March

Estate crepe thick March Estalo crepe thin caren 3iz

AMSTERDAM

The plans to catablish a "constructive outlook" branch in Singapore, were an development of the fren. nounced by Mr Russel G. Smith, Mr. Smith added that the No. 1 rubbat..

Bank's the

had veallgated the No. rubber President, who arrived here for

Southeast Asia, and as a No. 1 erage

a week's visit.

Executive Vico-Bial development situation No. 3 rubber

in

Mr Smith said that the Bank remult millions of dollars had

of Amorfen was very, therested | already.

"The Bank of America is one in

*-United Preg

and

MIDTOW

Domestic futures were quiet,

March

157 buyers babeled to encourage greater Contract No. 6. 1.20-trayers 100 buyers consumption of the tree-grown Contra Jnd buyersU.S. dizens would be given b

product

May per cent tax credit on Sternb dividendi accruing from Impunidad Invartinents "frider a (treaty approved by the

RUBBER OUTPUT

In the industrini de flaf the inrgest contribulom to the Kubber outout by Java Cone.] prop

Southeast Asia. ⠀⠀

Ho sald that the Bank, which enlargement of world trade" he soldated states Lia for Jun Senat: Foreline Redeifans: hoa 4,000,000 depositors, had a saldmyrance)

Huary pyar 297,000 ibi.

mittée ---United Pres

November

Beo Motors

Hopühile, Broek

snel ou Co.

Sincikir QIL Bocony Vacuum

Southern Hallway. (Coŋu) · Standard Brandi

312 Standard, Oll of Callfomia.

520 Bandant Oil of· Indiana (avs Standard Oil of New Jersey Stokely Van Camp Busdebaker-Packard Corp;

Swift » Coi

Texas Co. RE

Union Carbide :)

5,44 Union Facile Hallway.

BAY Tiled Gas, Imp.

M

Сурет

EMAAKTEPulber -

B.18 Tinted Busies, Buelting

KAS, Westinghouse

Woolworth

Pago 9

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Ontwards "CORFT!"

"CANTON"

"CHURAN"

"CARTHAGE"

Leaves London Dre Hongkong

7th March

nd March

4th April.

10 March

10th April

50211 Mareli

Mny

Vin Routhampton, Port Said, Aden, Notabay, Colombo,

Penang & Singapor

Lenten Wongkong Die London

Homewarda "CORFU" "GANTON"

*"CHUSAN"

11th March

Eith April

$113 April

May

2nd May

MTS May

"CARTHAGE"

65

MAY

Ta June

Via Bingapore, Penang, Colspido, Bombay, Adon,

Vort fald & London

• Also exti. Marketiten,

"SOMALI"

FREIGHT SERVICE

Pol

lor Hunts. P Buettes beni Penang. Cutorobu, Aden, Puri Sald. Genos, ntaries, Havre, Lon- don

itoties-

Antwerp, damian burg

from UK.

from V.K via Straits

"TREGENNA" due 20th Feb

dur "SURAT""

6th Mar loads

for Kobe & Yukonasna

With liberty to call at Belawan before or after Straits

or and at Bombay if inducement offera

Tauke available for carriago of 0 to Balk. Limited l'assenger Space for refrigerated cargo.

accommodation

BRITISH INDIA S.N. CO., LTD.

SIRDHANA" dur 2nd Feb.

walls zelis Feb

“WARLA"

**FULTALA” dur

dur 24th Feb sails 25th Fab. 3rd Mar. Z 4th Mor.

"SANGOLA" due 458 Mar.

Kaila

from Japan for Slogane, Penang. Bangoon & Calcutta from Calcutta & S'paro for Whampoa & Japan from Japan

tor Singapore, Rangeso. Calcutt, de Chittagong from Calculla Rangoon

buh Mar. for JISAN

P. & O./B. I. JOINT SERVICE

"OLINDA”

dur 23rd Feb. walls 13th Peb.

"OBRA"

dup Zud Mar

walls 4th Mar.

fruin Japan

for Shugapore, Penang. Bumbay... Karochi, Ban- jah, Khoramafulbię ♬ Kuwait

from Karachi. Bonbay. Cochin & Singapore Jor Jupati

EASTERN & AUSTRALIAN S.S. CO., LTD,

"NELLORE"

አሮ 5th Mar, nala 8th Mar,

+

"NANKIN"

Ane 19th Mar and 20th Mer

from: Jopan for Sendiakoo, Rabmil Brishane, Bydney, Meli bourne & Adelalde

from Australin for Japan

All vessels havo Überty to call at any ports on or off the roule & the roule & salling are subject to change or amendment with or without notice.

For full particulars apply to:-

MACKINNON. MACKENZIE & CO.

OF HONG KONG LTD. Telephone Nos. 27721-4.

EVERETTY

LINES

EVERETT

ORIENT LINE

refrigerator

Malaya,

Fast regular freight

<

passenger service to Korea, Japan, Philippines, Indo-China, Slam, Rangoon, Calcutta and Chittagong.

"NOREVERETT“

Arrives

Sails

Feb. 19 from Singapore,

Kobe Feb, 20 for

"REBEVERETT”

Arrives

Soils

& Yokohama.

Feb. 25 from Manila. Feb. 26 for Singapore,

Penang,.

Rangoon, • Calculto Chittagong,

(Accepting cargo, for tranabipment Kobe/Puzan' and

Kobe/Okluawn).

EVERETT STAR

LINE

service

to

Fast regular freight - refrigerator Japan, Malaya, Colombo, Bombay, Karachi and

Persian Gulf. (Bubject to inducement for direct call 50101),

"STAR BETELGEUSE"

Arrives

Salls

4134

Arrives Sails

Feb. 20 from Singapore.

Fob, 20. for Kobe & Yokohama,

Feb. 20 from Japan.'

> Feb: 27 for Singapore, Port: Swot-

tenham, Madras, Colombo, Bombay, Karachi, Bharah, Kuwalt & Bohrelo,⠀⠀

IITED - PASSENGER ACCOMMODATION)

(Accepting ergo for transhipment » Kobe/Pusan and Kobe/Oktanwn)."

EVERETT STEAMSHIP CORPORATION S/A

(Incorporated ja des · Republic of Panama tui

With incited, Lásaility) “, z Chinese Department: Telephone 28293 Queen's: Building, Telephone ~31206.