1955-02-18 — Page 9

1

Page

THE CHINA MAIL, FRIDAY, FEBRUARY 18, 1955.

and COMMERCE

TRADE and

COMMONWEALTH

SECTION

PREFERENCE

NEW YORK Commission Should Be RENEWED

STOCK

MARKET

New York, Feb. 17.

The late sell-off Keema

habit on the New York >

ck Exchange. For l Third sesalon row, prices moved

In L Just

before closing after showing monly strength. The realising was more modest than yonder. day, however,

Ilustrials held

their

A few cents

gain, average

and outside

this Jenching group. there were a number of higher features, many of them respond. Ing to special news,

Ralls closed a bit lower on avrange, pulled down by lossas of 1% poils to $13962 in Santa Fe, among others

Volume luchtened on the de- cline today Turnover for the session of 3,030,000 shares com- pared with 3,800,000 yesterday.

Or 1,221 lasues traded. were 549 higher on the day, 425 lower.

AIRCRAFTS HIT Selling hit pretty hard in nire crafts where there

Gearzal

profits to be Lakezz Dynames webh has fun

ྨ་ཟ

זו /

pid down verafically in receni sessions in line with a series of inerger

102

Incl

s112.

finished off 13

dividend.

drials,

ints. ex- Chance- Vought, which has moved in the name muzey for the same pea- so lost to $583%

General Tyre moved off 219

to $54

lower candngs

in the oils.

Set Up Similar To American Organisation

EMPIRE LEAGUE AND B.I.A. IDEA

London, Feb. 17.

A proposal that the Commonwealth countries should set up

a Preference Commission on the same lines as the American Tariff Commission has been put forward by the British Industries Association and British Empire League.

They propose 2 system of administering tariffs incorporating the American "peril point" clause which per- mits duties to be raised against imported goods which are found to be seriously undermining a domestic industry. Under the Commonwealth system, however, protection for an affected industry would take the form of increased pre- ferencec in Commonwealth markets.

The United Kingdom Govern- ment, my the Association and Ligue, should encode that the

World Rubber United States handing of her

Markets

Singapore. Feb.

17.

The rubla market was easter report. Houston Oil fost 2% to today Liquidation continued on $101

Woolworth nervous market and there was fell to $50. Other Losses some fal support towards The

Future clowings:

rubber per 18 Maret 13-0014

April 06-001 May ungred

were small-of

34. pont variety.

ווא

gonorally

American

vesivier

an its

the close.

Telephone, sold

huge

Dow

and Lexaimed

16

No to No 4

Spo

No

rubber baled

1 pile tripu Kupu

financing pleus, turned around No 2 rubber per 16

Today

SIT

Spery robbard to move up

its

$53 Eletrentes

dividend, ødding

issues, strong

yesterday, cos

continued in command and closed with goins ranging to

The New York change bond

$3,040,00

The American Slock

volume

tarif programme is reasonable, but should insist on the right to

the same upply

principles Commonwealth preferences.

"PERIL

"There

POINTS"

are peril points in Commonwealth trade," they say, "as has been amply demonstrat- ed in the West Indies,”

the

of the Common- The object wealth Preference Commission,

be " March 95-961, they continue, would

Da-Da!!

advantageous mutually Das-65 foster

trucie within 1-0 reciprocal 10-47 Conimonwealth and Empire,

paying due

the to regard Interests of those both with a and withoul."

90-100

NEW YORK

Futures closed 25 to 50 points with sales of 349 contracts.

[1]-

All claims for a change in pre- 3 points in Zeuth at $90%.

ferences should be submitted to Airline issues also did well, Terminal market prices drop- this Commission for investiga- Mrching beds were in demand. ped back after an opening up-ton. It would have the power,

to after

submission of Traders continued

proper Skick Ex-awing. volume

the Government was analyse

evidence, to rule that clan was 1r nouncement on the crude rubber | ill-founded or undesirable.

It ruled in favour of the claim, rotation programme, Ex-

it would submit its proposal to 1,070,000

Some quarters felt the effect the Commonwealth Government might be to keep the manufae- | concerned for ratification, turers out of the market in thei Immediate futur, since they ex- peet to be able to cover their 41048

146.65 requirements for

lov out of the Government,

Another

view

Wus differentials between

change

shurrs.

WI

DOW-JONES AVERAGES Duw-Jones closing averages of Wall Street were as follows:

30 Instantą

All rail

15

Wellner

65 utrka

469 maste

Corti future poter

YESTERDAY'S PRICES

Alden the Aer

Onec ratified, the

proposals #rades should be put into effect with-

stock out further reference,

DISCRETION

World Cotton

Markets

fensive for the rest of the

BUYING INQUIRY ON STOCK EXCHANGE

By A Special Correspondent

With the Tachen evacuation safely over and the advent of the dividend season, share prices looked a lot healthier this week on the Hongkong Stock Exchange.

There was renewed buying inquiry through- out the week and the money situation was comparatively fluid. There are a long list of rises

on the sales list and just the odd decline here and there.

The three dividend announce- matHotels, Providents and Electrics-have all been quite well received and have con- tributed to thr market's im- provement,

yeur.

Hotels are paying out a dollar compared with on cents last In view of the terms of sale of the Pedder Street site, It is a fola distribution but it has not excited the market unduly. The sharta the week.

are up 70 cents on

Electrics have announced mal dividend of $1.55 which, with a 70 cents interim, makes $2.20 for

the year

compared with $2.20 last year.

There was some disappointment with what seemed to be u rather meagre New York, Feb. 17.

Increase. True, Ove Cotton futures opened slightly | HGT

cents is nothing to write home about, lower and remuined on the de-

but I think many people are in- clined to forgel that the com- pany did have to pay out $3 Closing on a reaction, the list nisted on the day's lows and million earlier in the year

Gibb Livingston for relinquish- olt 8 to 17 points net Opening the management of the com prices were

8 points. ing New Orleans closed off 5 to 7 pany. They rose $1 to $30%

before finishing 50 points.

on the day at $38.

PROVIDENT'S

scesion.

off 3 Lo

in the new Foreign selling crop deliveries, plus continued March liquidation, before first notice day on Monday found trade buyers reserved.

The March contracts dropped buck to within striking distance of the 344 cent level, establish ing its lowest level since late last February.

Open March contracts at the

totall start of trading today 322,800 bales,

ста

The Commodity Credit Cor- porasion reported producer tries under the loan programme AT the week ended Feb. 11. tatalied 27,000 bates while with- drawals totalled 20,200 bales.

Trading volumes and open in terests in the Exchange today were:

10

conte down

SURPRISE

came with the

The surprise ment of the dividend, which China Provident's announce-

unchanged on the year, and the of one for every bonus issue four held which, under the The present economic conditions and view of the uncertain prospects ahood, Is quite an uchievement. The shares started this morning u1 $15.00 and finished at $10.30 after touching $10.80 in the afternoon.

Most Issues in the utility group show an improvement on the week. Trams

are up 00 cents, Yaumatis, on new bonus

rumours, Open interest | Jesuc Volume

touched $100 04.700 *$*$2,800 yesterday ($8 up on the week); 30,000 1.154.200

|Lights are up slightly to $17.70 and Telephones are about steady at $32.

BIG IMPORTS

OF BRITISH CIGARETTES

Singapore, Feb. 17.

leading

British olgarette salesman dig- closed here that Malaya

the biggest overseas market for English-made cigarettes and last year Imp ported 6,000,000,000 cigarettes from England.

Mr A. E, Stephens, of J. Wix wind Bons Ltd, a London

cigarette

הנותנת

facturing

firm, who visiting Singapore, said he

thought the reason for this

high rate

of Imports we the "high Quality and standard which have made British cigarettes popular not only in Malaya and other Commonwealth coun- trics, but also in hard currency arean"—Fraset. Presse.

TODAY'S SHARE PRICES

(From Our Correspondent)

Business done on the Hong-

Stock kong moming amounted to $740,175. Exchango this

Noon morning's transactions;

quotations and the

SHARES BUYERS BELLERS SALES

Page

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL 5.N. ÇO.

PASSENGER/FREIGHT SERVICE

dutwards "CORFU "CANTON"

"CHUSAN'A

7th March

Leaves Loudon

Dae Hoogkong

2nd March

411 Apri

18th March

18th April

2nd May

"CARTHAGE" 30th March

Via Southampten, Pori Said, Ades, Bojóbay, Colorabo,

Nomawarda

"CORFU"

Penang Bingapore

Leaves Hongkong Due London

11th March

12th April

"CANTON" **CHUSAN”

8th April

9th May

2nd May

30th May

"CARTHAGE"

O Muy

5th Juo

Via Singapore, Penang, Colombo, Bombay, kden,

Port Bald á Landon

Also calls Marseilles.

FREIGHT SERVICE

"TREGENNA“ due 21st Feb.

"SURAT"

due Oh Mar. toads 7th Mar.

·load 30th Mar,

from UL.

from U.K. via Straits for Kobe & Yokohama for S'pore, P. Bwetten ham, Penang, Colombo, Aden, Port Said, Genoa, Marseller, Havre, Lon- 100, Antwerp. Rotter- dard Hamburg

With tiborty to call at Delawan before or after Straite Perù and at Bombay U inducement offers.

Tanks available for carriage of Oll in Bulk. Space for refrigerated cargo. Limited Passenger Accommodation

BRITISH INDIA S.N. CO., LTD.

"SIRDHANA”

"WARLA"

nur 2011 Feb. walls 28th Feb.

dur 24th Feb. halls 20th Feb.

2nd Mor

"SANGOLA" que

"FULTALA”

#alla 3rd Mar, Gua 0th Mar. naka 10th Mar.

from Japan for Singapure, Penang. Rangoon & Calcutta from Oulusta & S'pora for Whampoa & Japan from Calculta Rangoon & Straits for Japan from Japan

for Singapore. Rangoon, Calcuttă de Chiliugong

P. & O./B. 1, JOINT SERVICE

"OLINDA"

"OBLA"

a Zim Feb. saila 23rd Feb.

que 2nd Mar.

from Japan

for Singapore, Penang. Bombay, Karachi, Bes“ rah, Khorramuhabe Kuwait

from Karachi, Bombay, Cochin & Bingapore salle 3rd Mar, for Japa

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

"NELLORE"

"NANKIN"

due 7th. Mor, from Japan siis och Mar.

for Bandakan, Rabau?, Brisbane, Bydney, Mel- bourne & Adelaide due 19th Mar, from Austenta sulle 20th Mar. for Japan

All vessels have liberty to call as any, ports on of of the route a the 'route & sailing are subject

le change or amendment with or without notice,

For full particulars apply to:- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD, Telephone Nos. 27721-4.

Commission

and the President, July, sey the Association and League, The number of Commonwealth Governments

concerned would alone guarantee that.

NEW YORK

Prices of futures closed today as follows. Spot

10 006 100

pile.

LAS 80

that

one

Month

March

May

two and three sheets would

Feb. 17

$22.

Allion Chemnih al All Chalmers

American Airline

DS

234

The power thus taken would widen in relation to the lower be exercised with as much con-

rades.

Spot No. 1 Hss were sideration and discretion as 13 Mat. 211, quoted at 34 cents a pound, shown by the American Tarift May

nominal.

July

30,300

72.000

Oct

0.200

Dec.

10,900

144,700

2.600

19,500

3.200

93,100

1,300

130 300

2,000,000 bales.

American Metal

572

American Smelung

434

American Tel & Tel

ずれ

Future closings were:

American Tobacco "11"

031

Mar

34 10

In the heavy stocks, Banics and Unlons with scrip scarce moved up quietly to levels.

DANKS

HIK Bank

2130

10 4 2133

104 2140

better INSURANCES

Anaconda Copper

2314

May

33.00

Armco Steel

7324

July

23.03

Amour

10

Dalwin-Lima-Harnilteri

101

Sept Deu

3.60

32.10

34.000 24.27-29

Enlilmore & Ohio..

414

Mar.

31.50.

Lands, Cements and Forms are steady, 31.03-04 appear to have found a tem-

Dairy Cements DOCKS, ÉTC,

Unkn Lombard

180

48

30

34.91

Bendix Aviation Corja

1121

34.00

Benguel Lans.

LONDON

34.03

Bethlehern Steel

110'

34.00

Canadian

Boeing A Hallway

201

porary level at around $44-45 for they have been hovering be- ; tween these two prices most of 33.10-28 the week.

* Sock

Wharf

Provident (Old)

Came 13. I. C

1702

July

33.pen

Whedock

10.00 1120 400 4 1080 1600 10.10

7 720

000 or 18,10

Chase National Bank

CO

34

01874

Commercial Credit

bit. No. 1 Time pat

HK Hotel... 15.80

16 500

4016

Do

Settlement house terms: March

28

Apr1/June

28

34.10

R22

67

July/Sept.

34.20

45% Oct/Dee,

34.04-05 34.03

1342

34.07

Rubbers, following a sharp TIK Land

Tanity drop in raw material prices in 5403-04 Singapore, were easier on the UTILITIES

0034

07 200

1.93

week.

35.12

Tram .......31.40 21.70 500

39.20

39.06n

Child Copper ..

Chrysler Motors

Commonwealth Elec.

Consolidated Edison

Continental Steel

Corn Products ... Crane Co. .......

Cuban American Sugar

Curtin Wright

Dupont de Nemours

Eastman Kodak

General Electric

General Fooda

21

1722%

7015

703%

General Motors

Gillette Safety Razor

13

Goodrich (B. F.) Co.

04

Goodyear Tire & Rubber

0816

Instake Lining Co.

International BusinceS

370

International Harvester

Machines

International Nickal

International Paper International Til & Tel

John-Manville Co. Hennecott Copper

Lockheed Ateratt

Lee Inermp.

Lone Star Cement Co.

Minnesota Missing

Montgomery · Ward,

National Cash Register "A"

Nationa] Datiliora

National Lend yo

New York Central

Otis Elevatore

Pacifio C & Electio Pacifio Western 011 ...

Pan American Airways

Paramount Pjotres

Radio Corporation

Repabile Gleel

"If such a proposal were put | March into effect," they say, "much of May July the British antagonism to GATT October would be removed and Great December Britain

March and The marked was ẞrm. No. 1

other Common-

May countries could then spot Res were quoted at 28% wealth

probably submit to a strengthen- pence per lb. Prices:

in other direc- ing of GATT 284-294 tons." 2014-20

The Wheelock group feneral- NEW ORLEANS

ly experienced a quiet week and LAND, ETC. Prices of futures closed today were conspicuous only by their

absence from the sales lists. us follows;

July

The Association and League Spol 2015-20% criticise the proposal Britain March 272-281

GATT to help May General markets, clf baals, porta has put before February

20-2013 the Colonies find a market for October

- their goods in the United King December 28-11-2011 | S

dom.

According to a report, March Bollers 201 sellers 2941 the proposal covers a request to July

United PiS.

take temporary measures to allow development of industry in Colonial territories,

March April Entate crepe thick Patate

crroe thi

New York Sugar

Market

WHAT IS NEEDED

"What

the Colonics_need,” say the Association and League, "Is not temporary measures but New York, Feb. 17. permanent measures, not solely World No. 4 sugar

futures to enable them to establish in- closed today unchanged to 4dustries, but measures designed polata higher with salen of to give them a steady and stable 224 contracts.

market for their primary pro- ducts as well.

Domestic No, 6 sugar futures closed

* 1 point higher to

"It is not fair to them or points lower with sales of 327 Britain that wo should walt contracts.

May

LIVERPOOL

Futures closings, in pence per New York Foreign Light 17.00 17.70 21:00

Ib., American middling, 15/10 inch, were as follows:

include: American middling

Exchange

soliers buyers 1.0176 1.01-15/10

Y'mali Ferrty 180 180 4000

Cght (N) 144, 14.30 Electrica 37 500-

Exo. 12.20 Telephone .. 30% 324 1500 32.60 INDUSTRIALS

Mar/Apr.

May/Juno

July/Aug.

MICIO

Oct/Nov.

31,60

New York, Feb. 17.

Dec/Jan

31.56

Official values for spot

Cottons

Canadian dollar rate,

Spot:

15/16th inch

32.01

closo

American B. L. mjdáiing“.

high

44 443 200 63 44.75 1500 44.39 10

With inch Mexican middling

1-1/32nd e

29.01

34.30

low

10176

Future:

Egyptian Giza 30, 25 points decline, BAO PHUO

B0-day 10-day

1.01-27/33/1:01-18/18

-1.01-20/33 1.01-10/10

*STORES, EN.

Dalay

Mar.

MAY

GATT, but

July

Oct.

Des

3150

BLIO

30.65

31.550

until disaster has fallen upon Futures closings, in cruzeiros World future ruled higher on them before we run to GATT trude buying with the armer cap in hand to ask permission per kilo were as follows:

to do something. They are de- Trade interests pendencies not of mw altuation. were reported on both sides of of Britain," the domestic contract, Futurs closings,

Contract No. 4 (world)

Maron

Philips Petroleum Pitsburgh Plate Glass

Reo Motore

07

Shell On Ca.

8142

Binor Ol

Bocony. Vacuum

Southern Railway (Com.)

Standard Brunda

Standard Oil & Calltorrila

MA3

Standard Où of Indian

July

Blandand Öll of New Jer

Blakley-Var Camp,

Bludabaker-Paciones. Corp.

Swift & Co.

Texas Co.

Umor Caride.

Union Pacino Raliway

United Gas, Imp

UA. Gypsum wes

UA. Line Co..

UA, 16bber ( United Mate

Wanner": Brda

Woolworth

ib tob

3.15

London Foreign

Exchange

In the United States, the ever- ago prico of 15/10 middling votion at ten designated “apời markets was 34.09 cents

Sales at them centres totalled. 15,243 bales-United Press,

Dement

1.031/18--1.66-3/22 Hope

1.01-18/10

6-month 1.0134) 1.01-27/32 Watson XI, 13.40" The free market rate of the COTTONS as quoted by Pick's World Cur- Japanese'yên to the U.S. dollar,

rency Report: 490,- United Fress,

2020 100.0 Z120

Textiles SITSCELLANEOUS

Afied

.0.40 0.00

MESSAGERIES MARITIMES

PO. Box 53m Queen' Building "1′′f 266517

||FAST PASSENGER/FREIGHT SERVICE CAMBODGE”:

Exchange Rates "VIETNAM

Business – was „done, Unofficial

.... sailing Feb. 26th sailing Apr. 8th

FREIGHT SERVICE

Mar 2nd ing Mar 16th

EVERETT

LINES.

EVERETT ORIENT LINE

Fast regular freight refrigerator passenger service

to Korea, Japan,

Philippines, Indo-China, Slam, Malaya,

Calcutta Rangoon,

and Chittagong.

"NOREVERETT”

Arrives Salls

J

& Yokohama.

Feb. 19 from Singapore.

Kobe Feb. 20. for "REBEVERETT”

Arrives Salls

Feb, 25 from Manua.

Feb. 26 for Singapore, Penang,

Rangoon, Calcutta Chittagong,

(Accepting cargo 'for transtilpment Kobe/Pasari and Kobe/Okinawa)

EVERETT STAR LINE

| Fast regular freight == refrigerator

service to

"Japan, Malaya, Colombo, Bombay, Karachi “and

Peralan... Gulf.

(Subject to inducement for direct call Kores),

"STAR BETELGEUSE”

Arrives

Saita

LAO

Arrives Saite

Feb, 20・ from Singapore,.

Feb, 20 for Kobo de Yokobama..

Feb, 20 from Japan.

Feb. 27 for Suigapore, Port Swet- tenham, Madras, Colombo, Bombay, Karachl, Basrah, Kawail & Bahrain, (LIMITED PASSENGER ACCOMMODATION)

(Ancepiing, calys for transhipmen

gand | Kabe/Ükinswa)

ETT STEAMSHIP CORPORA