Page
TRADE and
THE CHINA MAIL, TUESDAY, FEBRUARY 22, 1955.
COMMERCE
SECTION
AMERICAN ECONOMY Japanese Steel
Expectation Of Another Prosperous Year
In
Most Industries
By JOHN MORKA
New York, Feb. 21. The month-old guessing game as to what American industries will earn the biggest profits and pay the highest dividends this year showed no signs of abating last week.
Most Americans appear to have resigned themselves to
1955-a not altogether prosperous
altogether prospect. They are worrying a not word about profits, dividends, taxes and stock splits.
another
U.S. Markets Closed Today
New York, Feb. 21. 118.
Recurity and com- modity markets
he will shred temerrow--Washing - ton's birthday.
South Amerless markets will be closed for
Mardi Gras Carnival.
the
market
And the future looks rosy, ac- cording to the market experts. Profits and dividends combined Aave been the bait for some of interest in widest invalment цие
stock
Years Prices have wored me and again to record high in recent nionths on impetus of the buying
mu.one
investors from
of individual and institutional.
Only one out of ten common stocks isted on the New Yonk falled to pay Stock Exchange
Even
accurate
Price Increased
London Market By Leading Mill
Stendier
London, Feb.
L
The London Block Ex- change became steadier afternoon following
tals
the sharp fall in share prices this morning,
market,
The silt-edsed which in many cases turn- ed earlier losos into gains, zava mild encouragement to Industrials,
steadying
them at the lower Levels and slightly rallying some
of the leaders.
War Loan stock finished
• poins higher on the day at ́84---Reuter,
unpleasant HONGKONG
STOCK EXCHANGE
general. the Ma cozine added, those industries that sut- fered most in the 1934 business slump will
show the best galn this year. Textiles, for exemple, may have one of the biggest in- creases in earnings, although may not pay out any sharp | inc
increases in dividenda inasmuch as it will have to recoup previous kisses and provide for industry improvements.
1965
PROSPECTS
and
dividendr
accord-
(From Our Correspondent) Business done on the Hong kong Block Exchange this morning amounted to $337,711. Noon quotations and the more- ing's aansactions:
Tokyo, Feb. 21.
Yawata Steel Works, Japan's largest steel maker, today announced a five to eight dollar per ton increase in the price of domestic steel.
A Yawata spokesman sald the price riso would not greatly affect ita export prices, are generally above the
which prices
of Japan's chie competitors
in Western Europe, excluding Britain.
FORCED TOO LOW
Yawata said domestic price quotation had been forced too Jow by deflation-included decline in demand and the re- sult was that Yawata has been losing money.
It Bald the price increase would "stabiilso" conditions and help put Japanese steel mills in the black again.
Appealing to other Japanese steel makers 10 follow suit. Yawata said its action affected "In principal" those stoel pro- ducts in which it competed with other domestic mills.
The spolesman said the patice line was generally
maintained in products like rails and thin shoets in which Yawala has a domestic monopoly or Bear- 340 monopoly,
SHARES BUYERS SELLERS SALES
BANKS
HIK Bank
21:20 2140
10 13
Bari Aas KD 200
Union Lombard
INSURANCES
180
40
PERS
50
20 #
The effect roonia.
will incasure with
April-May
1975 a cash dividend in 1954.
profi gime of the laggards paid off in prospects, respectively.
Big stock, rather then cash. British
Bing to the weekly magazine, are: favourites have been that issues
Texides up What offered the best chances for
sharply. up Air Thus
transport--up a promi.
the market, by moder: te Rad targe, his been highly sunsiantially, Mu cona derably; DOCKS, ETC. selective.
Passinger car sizable gain, AUTHORITATIVE REPORT moderate increase; Bible metals
Canadian
Rud
markets
w[l]
operate
Usnat.--United Press.
World Cotton The mathoritative U.5. News-up nexlerstely, moderate rise;
Markets
New York, Feb. 21. Cotton futures today fluctuated Harrowly or either side of the pirvious close in more aeva dealings.
Most of the activity was given of nearby to liquidation over March controls and switching
to later positions incident to first
notice day.
Pre-holiday evening-up, along with routine hedge selling and trade buying mada up the balance of the business.
The
Orleans potion
New York and New exchanges will until Wednesday nurning for observance
remain closed
Washington's birthday
110.
of
ceabra-
and World port peered into fron and
stoel--sizable gain.
gain,
up
the future this week. I fore- Te increase; Electrical equip- cast: bigger profits and larger ment sizable dividends from this year's in-moderately, proved busincas.
But not all will share in the Some Aro Cautioned.
shead,
others
rise, definitely in a good position to will lag. so Stockholders in industries with
"will bright prospects
benents," above-average Magazine said.
reap Ine
World Rubber
Markets
Singapore, Feb.
21.
Profils in some instances were estimated at about 20 per cent
and over the 1954 levels.
Another bit of guessing fat revolved about which stocks are 'pe for a split. Actually, a split does, nothing to offer the in- Irinsle value of a stock. It is a device used by corporations to cain a wider ownership base by its shareholders and rim to at- tract
more capital. A two-for- ore solt means one there is now
each two shores,
of half the (original price. Arcerdia
mgazine, market
Burners Week
trade:s An a bull-sign-1 in equence i or rumour of stock split. As a The rubber market opercule a sto
a stock split serves to move Finishing on a rally, the list steady after Sturday's weak-
Furthermore the price h pier ruled 3 points lower to 11 ness on some trade and specu- the trend toward splits serves points higher, Opening prices in ive buying covering shor a to attrret more Invertors at th were of 2 to 10 points, New Later the marko cused 02 lower por-share
basc.
Splits Orleans closed unchanged to up urther liquida lan with buyers were completely In commer
inclined 4 points.
to hold DET. Fulure
that stocke
nyed
Prit March tenders today Godngs:
amount of popular interest in Laitil covered 22,000 bales in the
1954. according to Busines No. 1
Wook. local market and 10,800
March at New Orleans.
May No. 2 rubber per 16 As the notice creuated. March spurts of liquidation
No. 1 rubber per
March aboorbed by the leading
bales
rubber
pror
April The Lehoers
were about as expedicit,
were Spo
flims which were credited with Issuing most of the tenders,
Trading volumes and
interests in the Exchango
tiny were;
Month
March
May
Julv
October
December
March
May
July
Total (bales)
No. 4 rubber
March
טן
€97-00 8912-90
muted
85%-8
ELSEWHERE
Elsewhere 1 ler: optimistic note was echoed 3744-08
by a leading business spokerman this week President Henry R. Rifer of the National Asğalion of Menu- factures sold he was concerned about profits not keeping pace with economic expansion.
per Ib.
13-94
Spot rubber unbaled
aske crepa No. 1 pale crepe
NEW YORK
Futures closed 00 to 70 points sales of 169 con- 1.154.300) lower with
open tho
Volume Прев
interest
100,200
7400
72,400
40.000
700,400 † tracts.
21.000
212,900
12.400
1,300 6,100
700
92,100 Terminal market prices FO 101,400
s' abluity 3,900 gained a
mcasure of 182,000 after a staggering start, when
2,771 200 prices 280,700
NEW YORK
$9
K. Whart Providen!
(old).. Wheelock
LAND ETC. Hi Hotel K Land
Rosity
UTILITIES
Then
Star Forry
XD
12
60
16.99 10.10
7:00 7.40
10.30 104 1100 .. 0014
103 2 87 200 # 0014 100 6 67
1,071% 2.02%
21.00 900 → ALLOD
2000 2115
Y'ati Forry C. (N)
30 30 200 @ 281. XD Electric Me do Eloc. 12.20 Telephone · 31%
INDUSTRIALS
Conent
Hope
NEW YORK STOCK MARKET
The New York stock mar- het comment was not re- ceived this morning.
The following are Dow- Jones cloalng averages and yesterday's quotations:
30 industrials 20 rail
15 lities
drtock
40 bonde
Comm. Artura price index
YESTERDAY S PRICES
Alden Inc. AOT, Allied Chemicals Ailis Chalmers American Airline American Metal American Sneling Anteatern Tel, & American Tobacco # Anaconda Copper Armes Stoel ASTEINIT........ go into
Belwin-1ma-Hamilton ship- Baltimore & Onio
not
The price increases were uniform but varied from 2,000
to 3,000 yen per ton. ($5.55 to $8.33)
PRICE CHANGES
Some of the prica were!
changes
1.' Small 19 to 20 mum. sice! bara hiked from 35,000 yens par ton to 38,000 yen.
Hadi Aviation Corp, Benguet Cons
lehem Steel
Basing Airplane Canadian Pacific Railway Case (1, 1) Co
Chase National Bank Chile Copper
Chrysler Motors Commercial Credit Commonwealth Joc. Consolidated_Faison Contirontal Sli Com Products
Cuban American Sug Curtis WiseNE
Duport de Karsoumi
Zartmen Hodak
144
188 100
1740 7000 80 14.70
Globeral Electric
2. Heavy steel plates, 30,000 yen to 41,000 yen
Wire rope. 2.
from yen to 40,000 yen.
from
General Foods
General Motors
39,000
40 @ 4412
4. Cold rolled 70.000 yen 10 United Press,
sheet, 72,000
23.20 200 23
43164458
X13.40
TURES, ETC.
Dalry
CUTIUNG +ext.ic
MISCELLANEOUS 00
....guezo
0.03
Singapore
Gillette, Safety Harpe Goodrich (3. F)) Co Goodyear Tire & Rubber Homake Mining Co. international Business Mac from international Harvester
International Nickel усп
International Paper International Tel. de Tel. John-Manville Co. Kennacott Cappar Lockheed Airetati Leews Incorp.
New York Sugar
Market
New York, Feb. 21. World No. 4 suger futures closed today one point higfier
Stock Market with mics of 20 contracta,
Brokera
Domestic No. 6 sugar futures closed unchanged to 2 points
of 89 con with sales lower
Singapore, Feb, 21
quoted to Looty ollowing sock prices:
Feb. 21 Feb. 23 | tracta Clowing Opening
British Borneo Petro
leum Bynd.cate 31 od 31s Consolidated
Тіп
Annielitan Order 20 Đại
l
$1.95
$5.80 36.40
FTAMOT Ant Neave
Lt. Ordinary verset $1.90 Fraser ALENT Serve
Ltd.,
cum. 14% pret. Hongkong & Shangha! Corporation zak (Colonial Regater) 1.40° $11.10* 34.001 Malayan Brewin $4.0 Rames Hotel
$2.70 $2.70 Cold
notran
Singapore
Storage
Bouth
Ben. Trading
Brunalp United
Engineer
The world contract lacked fresh feature in mixed dealings between trade liftereste.
Scattered pelling domestic contruct
Lone Star Cement Co. Minnesota Mining Montgomery, Ward National Cash Register “A”* National Distillera National Lead .... New York Central Otis Elevators...... Pacifio Gas & Electric Pacide Western Oil Pan American Airways
Paramount Pictures Philips Petroleum Pittsburgh Plate Olmes Redio Corpotalan Reo Motors Kepublic Steel
Shell Oil Co. Binclair 011
Bocony Vacuum
Standard Brands Southern Railway (Com.)"
Standard Oil of California Standard Oil of Indians Standard Oil of New Jarray Stokley-Vart Comp. Arnebaker-Packard Corp.
the
A
Texas Co
reflected softer tone in the raw market, Yurttires:
Svin & Co.
Union Carbide
Union Pacino Railway
United Chan, Imp.
UA, Oypeu
UB. Line Co.
0.16UA. Rubber
Contract No. 4 (world)
Mar.
91.02
$142
May
3.18
July
3.19
8:20.25
82630 | Sapt.
$20.00
23.00 Spot-(centa per in, f60 Cuba) 3.7
$16.50
$16.00
"ontract No, s
BAT
$2.80 14.30 JULY Braid Bid gept. $5.57/67 $3.55 NOT
1.00
637
BAX
Spot (cents per 1. cit NY-
Bx-duty)
SAD
amUnited Proud.
Ordinary **** $12.00 $13.00 My Toarne Brothers
Failure of profts not to keep pace with economic expansion the major unfavourable Item in the U.S. business picture, he said.
He outlined
plan for a 000.000.000 corporate tax re- plummeted around 14duction over the next five years conts a pound. Weekend weak-under which the top income tax Hongkong Tin
at Singapore and heavier
rate on both corperations and Prices of futures closed today shipment market offerings upsel
should be brought Individuals the price structure,
down to 85
cent, consider to 25 per bly below. present levels.
Profits play a major role in at- truetlag now plants and invest- ments "be argued, and the fallurd of profits to fluctuate about-
as follows:
Spot
Mar.
31ay
July
Oct.
Dec.
MAT.
May
July
NEW ORLEANS
35.10m
34.38-44
14.71-72
34.97
35 04-09 30.12
33 20-21
34.41
Dess
Later, the market steadied on the small recovery at London and on covering before the local holiday tomorrow.
In the spot market, dealer $1,000,000,000 over a seven-year
buying developed on a small period is “a penuine caums for scalo. Spot No. 1 Ras were concern.”----Unlted Press, quoted at 37% cents a pound.
Prices of futures closed today nom. Futures:
as follows:
Spot
May
July
Mat.
May
July
25 OD
Mar.
34.50
May
34.717-9
July
Sept.
35.001
Dod.
35.11b
Mas.
39.32
36.310
LIVERPOOL
LONDON
New Incentives
32.40 $2,00-00
31.60
51.35
3154
30.30
For Capital
Priming Tin
• cum-diy Cum-capfiái ERGO, † with div~~China Maji Special.
Commodities For Tariff Concessions
Washington, Feb. 21.
The United States announced. toddy & lat of 40 commodities
London Foreign Exchange
United States Binaliing
UB, Steel ...
Warner Bros.
Westinghouse Riscizio
Woolworth
Chicago Grain
Prices
•
Chicago, Feb. 21. Prices per bushel in cents: Whist, MG 2, NE
Spot
MAY
July
Sept
| Corn, H6> #, yellow
Boot
Tb. 21:
May
Fitul 18ipt.
My
Wait Marka
Mar. May
Uristed
| Böybrana," No, a' yudow
Boor
MY
New York. Wooltops. Market
July Sept.
Nov. harley,
100
on which it proposés to Degollata ||New York ari consessiens be third soun. Mondres) tries as an inducement to thean Ambardi
krutuola to cut their import duties on copeniages Japanese goods.
The Lie covers, commodities mockholm
imports from countries ohër Hán Japan in the amountƐof 20′| Pr falitioės, per year, Principal items are wrapper 16baddo; phdollestid. nah, Am products United Pramsiki
The market was erratic. No. 1 In Philippines which the United States coemtily str
Futures closings, Amorican Rss 'spot were quoted at 20% middling cotton, 15/16 Inch, In pence per lb. Prices
pence per lb. were as follower
March/April
MAT/JAUM
July/August 2****
October/Novembar
Dember/Jenisry
No. 1 spot flas jettlement house järna: 3170 April/June,
2016-273%
· SÍ,48 July/Sept.
Ombial value for spot catione in= | Oct/Deo,
olude
Ademcan midding 18/19) ipsah American Latideng Asth Inon Maten meddling, 141/3tod, Brealmal Sac Paulo, fully/good.
SAO PAULO
Markets were closed today holiday par
4. Iny thế United "B'ate
· overdag 'drica of 18/18
was 24.17, centé,
Caporal triaskata, "dif beat, Feb.
Kilate drept Chlok
We thin
AMSTERDAM
Manila, Feb. 11,
A bill providing new indene 276 ven for foreign investment
the Philippines bat been find in the Senate by the ChairmEA, DI
The market was elendy. Prices öldred today. In gulders
સ
and
itis Senate Finance Committee, New York Foreign
"It would relax controls affect. ing forelli, expital - 2nd would foreign conttalled s
Exchange
Exchange Rates
Rage
P&O B.I. E&A
#
COMPANIES
PENINSULAR & ORIENTAL S.N.
PASSENGER/FREIGHT SERVICE
'CORPI "CANTON"
CHUSAN*.
2nd March
(8th March
"CARTHAGE" 30th March
Co.
Our Hongkong
7th Staroži 4th Apr 10th Aprif 2nd May
Via Gouthampton, Part 1ud. Adon, Dombiy, Cozerako,
Penang & klagupère,
Homewards
“CONFU" 'CANTON". **CHUBAN"
"CARTHAGE"
Leaves (long
11th March
8th Apri 2nd May
6th May
Das London
11th Apri
9th Mex
**30th May
6th June
Vo #ingapore, Penang, Colombo, Bembey, Aden,
Port Said a Landon Also calls Marseilles.
FREIGHT SERVICE
"TREGENNA" In Pori "SURAT
due 4th Mar. Loads gin Mar.For Kobe jadi both Mer.
"SHILLONG” que ard Agr.
from UK, & Strmits
from UK via Straite
Sw+tin per pune, p bam, Penang. Colombo, Adah, Port Said, Gacion. Marsden, Bevis, Lon- don Antwerp, Botter-
dam & Hamburg from
UK. Je straite
Loads sim Ápr. for Kobe & Yokohams
With Bberty lʊ cad) at dalawan balore or after Whimsta Porb and at Bombay l todwerment offers.
Traks available for carriage of OU la Bulk. Limited Passenger Space for refrigerated cargo,
Boostmodation
BRITISH INDIA S.N. CO., LTD.
“WARLA” due 24th Feb.
*BIRDHANA” due 25th Feb. saila zālis Tab.
"SANGOLA" due and MAN.
"FULTALA"
I
salle and Mar,
do 10th Mar PAŽEM LUH Bar.
from Caleta de supore for Whampoa & Japan Iron a
Penadă.
for Singapore, Rangoon Calcutta from Calcutta Bangoon
Strate
for Japska
from Japan.
for Bingapore, Rangoon, caloutta à Chittagong
P. & O./B. I. JOINT SERVICE
"OLINDA"
In Pori
from Japan
mile hard Yet for Singapore. Penang. Bombay, Karachi, Bas- ran Khurranatindly fa Kuważ
"OBRA"
dae 28th Feb.
maste
Front Karathi. Bombay, Cochin & Singapore 10 ct. or Japati
EASTERN & AUSTRALIAN SS. CO., LTD.
“NELLOR
"NANKIN"
do
là Mãe, from Innan 16521. Sch Mat. for Sandakan, Rabkuž.
Brisbane, Dydney, Ma bouran & Adrinida due 19ths Mer. from Australia salle 3915 MAP. for Japan'
All weasels have Überty to end at any poris an'at off the route & the route & miting Kre makinat.
to change or anvendment with or without moties.
For full particulars apply lo MACKINNON. MACKENZIE & CO.
OF HONG KONG LTD. Telephone Nus. 27721-4.
EVERETT
ALINES
EVERETT ORIENT LINE
Fast regular freight refrigerator passenger service -to Koren, Japan,
Philippines, Indo-China, Slamm Malaya, Rangoon, Calcutta
"REBEVERETT”
Arrivés
Salla
and
Feb. 25 from Manila. Feb. 20 for
Chittagong.
Singapore,
Rangoon, Chittagong,
Caidutta
"BRADEVERETT”
Arrives Salle
Mar. 3 from Singapore/ Mar. 3 for Kobe di Yokohama.
(Acorpiing eargo for translipmnest Kobe/Pasan and Hóbe/(kiria wa )
EVERETT STAR
LINE
herviou
Fast regulke freight in gutzigernLÓT Japan, Malaya, Calambe, Bombay, Baqachi siid
Ferzisa - Gail.
Wuhjòck tu baducement för direct, cll'IMUVAS.
LÀ
Arrives
Tab,
Batte
from Japan.
Teb. 28 for Siniapors, - Port. Bwit» tanlah," Madras, Cóĵorniso, Bombay," Karachi,. Batrás, Kuwafi 2 Bafareti,;
"STAR ARCTURUS“
Mar 18 for
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