1955-02-25 — Page 9

NEW YORK

4

TRADE

STOCK

MARKET

Now York, Feb. 24. Prices on the New York Stock Exchange declined sharply early today, but #1 late rally wiped out 60 per cent of the early losses.

pre

The breuk followed n cipitated drop In the London Stock Exchange — the worst Blace Sir Winston Churchill: met defert by Labour in 1943,

Dumping of stocks in London was touched off when the Bank of England raised its discount rate from 3% to 4% per cent and lightened instalment credit controls.

New

York turks ulso suffer-

e for a time from what was

rཏྠཾR༤"【

bed

dhappenin dividend actres from several ey inpanien, such as onglesion of the natal extra by Buylic Com- party and osua daxil 100 Ang Agricultuen! Chem-

fie venil Precision Equip- ment Corp, and Union Pacth

Later on the dividend termal En out aboar with such favour.

and death. is resumption of a twynebo tay Electric Auto-Layr dividervis fert Copper,

1.

Fortvaren

In phation

Ch

F

wad Wilen.

SUPPLEMENTED.

Javent dale

Mogant

dividend

116 mfroms WALT supplemented by sane Tugchay fox unble cursting i repreis uelo Jong several m the Fathway category.

Tinating foghatented for 2 120,000 frean sexleyday's 3,930-

000 shares

Late

Petroleum

inding

fran

which

produced

Amera.je soured

$202, up 1241 podnos nuing fil-lakat!

D 8211

Teefoto

THE CHINA MAIL, FRIDAY, FEBRUARY 25, 1955.

and COMMERCE SECTION

BRITISH SHIPPING REPORT

Japanese Government Disregarding Accepted International Practice

London, Feb. 24.

The annual report of the Chamber of Shipping of the United Kingdom, published here on February 21, declares that the Japanese Government is "tending to use its national shipping as an instrument of aggressive trade policy with !complete disregard for normally accepted international

practice."

The report adds: "Japan, like Britain, is by tradition a maritime country and should be equally anxious to avoid doing anything which might encourage others to take retalia- tory action.

Spot Pound Up In New York

New York, Feb. 24. The spot Belitsh pound sterling closed at 2.78-21/32 op 7/32-cent in relation to the Untied States dollar in foreign exchange trading bere today, showing л firmer tendency coincident with the increase In the British bankrate.

The pound fulares positions, however, closed slightly lower. The 30-day position was off 1/32-cent lo 2.78 5/16 ned the 10 dây planitions off 1/16-cent to 2.77 15/10-United Press.

New York Sugar Market

New York, Feb 24 ! World No. 4 sugar futut

closet today unetanged to one!

35 sates of point higher with

TODAY'S SHARE

PRICES

(From Our Correspondent)

Businers dorfe on the Hong- kong Stock Exchange this morning amounted to $431,509. Noon quotations and the morn- ing's transactions:

NHARES BUYERS SELLERS BALES

INSUHANCES

Union

Lentrard

SHIPPING

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.H. CO.

PASSENGER/FREIGHT SERVICE

Ontwerde "CORFU" "CANTON" "CHUNAN"

"CARTHAGE"

Leaves LAKE DE

2nd March

18th March

Mh March

Dus tongkang

7th March

418 ATU 10th April

2nd May

Via Southampton, Port Bald, Aden, Bombar, Colomb»,

Penang & Singapore

Homewarda

"CORFU”

"UANTON"

*"CHIUSAN”

Leave Hongkong Das London

11th March

11th April,

8th April

0th May

21 Stay

30th May

6th June

"CARTILAGE“ 4th May

Vis Singapore, Penang, Colombo, Bombay, Adza,

For Bala Londno

Also culte Maravilles,

FREIGHT SERVICE

ปก 09 Mar. Iườm UK, via Straita Londe 0th Mar. for Kobe

Bonds 31st Mar, for 8'pore. P. Atzetten

"SHILLONG" due ard Apr.

ham, Penang, Colombo, Aden, Pors Bäid. Genos, Marselle, AVTO, LOG- too. Antwerp, Botter- dam & Hamburg

from U.K. A traite 14th Apr. for Kobe & Yakshama with liberty to call at Delawan before or after Stensta Ports and at Bombay if Indncament offers, Tanks available for carriage of Oll in Bulk. Space for refrigerated nargo, Limited Passenger socommodation

"SUBAT"

103 104 100 5010 51 300 5015 Underwriters 10:30

Watertxunt

20 40

DOCKS, EN.

K. What Dock

00

900 13 23.10

Takd Wheelock

LAND, ETC.

HK fel

10.00 1193

4

.

10,60 17 80 1000 22 16.00

Domestic No, @ Sustar futures. unchanged to 2 points tower with sies of 201 contracts.

1000 or 10,80

1000 m 18.DO

K

16

Humphreys •

UTH.ITIES

TITUIR

Ya Perry

Light (0:

"But the postwar policy of the Japanese contracts."

well have that. Government, if pursued, may

World Cotton_result.”

Markets

New York. Pet. 24

Collom dulurs today K word tiny rowly on entlang size of the previous cintas in epitet seal-

1 lous! Brow for O gained 3% Full Day Nie slay to $113% and bigft-peed off of California

up 35 points to syan The steel, wrak varer in the day came back

The of under leadership of Bethlehem closest at $120k up $1

which

**

The market opened up 4 to,

Orlean New Preiss hered up to off i poil

The animum support lever

the

וואלון

Future closings:

Contract No. 4 (world

3711

3.10

3.19

3 19

fub

17

March May. July

Seember Spot-cen

Cuba

per

World The report says that the rapid Japanese stupping to be fostered

contract trading was and "over-built by hardly broad enough to develo;: 』⌘I,、,:༼༽ of Japan's Arcantile artificially

under STAGE FRIE

influmice, divet, er indirect, Government |ʼn special feature, traders said. and

cf with the

the aid and influence Japanese Gavernment, calls for

"Published results show that "engele notion on the part of

Chamber British

Japanese shipping companies have continued to incur heavy wwin are determined that their

kests.

In some degree, these deskmate interests shall not bei

certainty Now

the rate serated.

g

to wars, but the largest esses now Jong reference

in the Far, East-United Jugane shipping and

trade arise

States unde, which employs pulov," the report" as "Fears

in recent years about perhaps a third of the Japanese expired the trends

ocean-going fleet. of Japanese shipping Lad trade policy have

proved Without regard to the operating losses incurred by The existing ships, the Japanese Governme bas pressed for Wanti with its reconstruction plan.

Da Punt, which Touched onto the 1955 crop, amotinived by 1 early low of $171%, came back the Agriendfire Department over when the Company announced, night, wies in line with expect found.

The support basis for middling winch cutton will be 31 70 cents a posunief

Statistierns figured the level equivalent

urd 34.55 cents were

It has discovered a method of making paper from synthetic ribres. The stuck, selling ex- dividend closed at $173. up

xalat

Alrevafta

Jower.

irregularly

Automobile issues closed nur- rowly irregular.

A sotal of 292 issues advanced with al of them setting 1954-55 new brigh, while 700 devined, three of them 10 new lows. There were 224 ISSUES of the 4.210 traded that finished im- changed.

pound for middling 15 16 inch cotion The averag** long rate on the current crop is 1 33 23 cents a pound.

Truding

Volunte

w p

CARGO LINERA

"The continued emphasis on cargo hers has resulted in the volume of this type of fannsge

1937

interests in the Exchange today exeeding that in commission in

were:

172.TIKA

120,000

202 400

Methi

Volun

Open interest

March

21.300

!

124,100

Mny July

£2,400

37.200

Geister

B.100

December

11,000

wus

March

2,000

May

2.100

July

Total

1) 135.70

NEW YORK

The New York Stock Ex- change Fond volume $4,000,000.

The American Stock Exchange volume was 1,330,000 shares

Dow Joens closing averages |

Were

30 industrials

tt

H

utiliter

65 stocks.

-$19 band

Camma futory price madex.

YESTERDAY'S

Aklen Ing Aty.

"Allied

Chemienis

Allis Coultures American Airline American Metal

07 MX 205 400 4700 2.748,500 -

Prices of futures closed today

35 05

3440

34.05

35 po

35 19

30 19

NEW ORLEANS Prices of futures closed today

13 May

03 July

731⁄2 October

10 December

104 March

World Rubber.

"In these trades, the principal, though not the only, ecause of the present chaos is the inter-

wartere neeine

between the | Japanese companies, which live į flooded the trudes with liner tonnage greatly in excess of re- quirements

CONTRAST

"By contrast, in other cus dominate,

which British interests pre- and the Conference to obtain reatenable are obic shares of the trame.

that

Contract No. 0

May July

September November

March May

I per lb of NÝ

Spot cents per

ex-duty)

5.40

United Prem

Light (N)

Electric Telephone

INDUSTRIALS

Hope

800 6 10,00

1000 18,BO moob sa 6011⁄2

100 at 07 24.70 100 62 2315

21.10 21.30 500 de 2116

150

1737.40 100 va 17.30

14 14.20

31 32

Cement

42

3100 40

Dairy

STONES, ETC.

...24.20

47.00

200

000

300

(N)

Woigon XD 1.40

C'OTTONS

(Dem.

MISCELLANEOUS

Yangtze .... 5.00

B

HONGKONG STOCK EXCHANGE

1$%

35

20,30

Shares Ease In Dull

Trading:

Spotlight On Hotels

"British owners canid not ob- jeet to the gradual ro-bullding #AJL this suggests that the

Japanese of the Japanese fleet by com- prosent

difficulties merveilleiency and neumen, brise because they have bullt leo but it is quite another thing for much tonnage too quickly."

The report sayovernment has although The Japanese been pressing It's shipping industry tu rationalise its r tions by forming groups, the pla pose appears to be to avoid inter Japanesv * competition ruther than to check the incursion of Japanese lines, re- pardices of the economic con~; sequences, into trades which are Exchange took a rather sharp downturn this week and the spotlight settled on Hongkong Hotels Where an operator is reported to be making a determined bid to corner the market in these vshares.

Markets

Singapore, Feb. 24.

The local rubber market failed to respond to higher advic from Landon and New York aul opened about one cont yesterday's close,

Towards

noon

to them. "Furthermore, fire Wiay in

By A Special Correspondent Share prices

¦ new_

which Japanese shipping has re- below appeared in international trade Muggests that the Japanese Gov- some buying crnment, which has power to took place but during the after-dleiate the routes on which the operats, is tending noon Aquidation by Federation lines shail

further to use its national shipping as down prices

un Instrument

Aggressive trade policy, with complete dis-week. Hutels No. 1 rubber per 1. Mar. 83-04 regard for normally accepted

international practice."

cused

of

410 30 The follows!

148 44

Buot

4300

152 74

Match

100.10

May

10322

July

PRICES

October December

March Max

Feb. 24

July

78

2311

합니다

as follows:

American Sinciting

437%

American Tel & TEL

Stat

34.20

181

Macch

214/17

American Tobacco

34 72

Anugera Copper

34 -177

Arne Steel

34.07

Armour

35,01

35.32

Baltimore & Co

424 MAY

33030

Bendix Aviation Corp

113

lily

35.14

Benguel Cons

Betlehem Steel

120

LIVERPOOL,

Boeing Aeroplane

634

Canadian Pacific Railway

305

Liverpool, Feb. 24,

Crime (5) Cu.

17%

Cluse National Bank

34

DULL

*closings. Fulure Middling, 15/16 inch, In pence

ih, were as follows:

་

Mar/Apr.

32 04

494 40

No 1 pate crepe

Apr. 934-14

May unquoted No. 2 rubber per lb. Mar. 021-03 5713-72 No. 3 No 4

913- $13--00 Spot rubber unbated

83-06 Blanket grepe

97-915

W. GERAÍAN SHIPPING

May/June

33.00

400

July/Aug:

31.00

Oct/Nav

NEW YORK

29xd. Dec/Jan.

31.07 21.07

15%

403% include:

caitons

Futures

American miidling

24

32.63

173

20.60

Elwin-Elma-Hanuliūn

Gule Copper ... Chrysler Motors Commercial Credit

Cotnunenwealthy Elec. Consolidated Edison Continental Steel

Crane Co....

Cuban American Sugar

Corn Products

Curtis Wright.

Dupont de Nemours

Eastman Kodak

General Electrio

General Foods

American

67% Official values for apoi

10/10th Incl

American S. 1. middling

$215 Mexican middling

-

towards the close,

Future closings were:

the on

Hongkong

Stock

to

The shares have risen a dollar week under the million mark. Testerday's turnover of $950,000 on the week.

You will remember that last was about the lowest this year. announced they Onc or two dividends have pored to pay a dollar dividend still to be announced, eratably compared with. last year's dis- Taumatis and the market is tribution of 05 cents.

fidently expecting news of a view of the $11 million sale bonus issue to accompany it. of the Hotels Company's Pedder Out the week, Trams are down to $21.20, Lights ere The report said of West Ger-Street sile, a group of investers 100 cents man shipping: "What effect the cal

this year's

distribution down 40 cents to $17.30, Electrics | resteration of sovereignty to should be higher. And accord-

dollar are down, almost a Western Germeny will have ening to market reports the objec: $35%, Telephones have also lost her already active competitive of the cornering move is to gain ebeut o dellar and Cements are closed today 165 to position in Industry, and partia controlling Interest in the com-$1.75 below last week's price of 194 lower with sales of 278 con-

cularly

In shipping, has still to pany to bring about a new $45.

dividend

FUTURE TREND tracts.

Active diendor selling md Discussing the claim by Peru,

announced the When th

Lands, Provi Dairy Ferms, of enla quidation followed the lower Ecunder and Chile to territorial terms

Laal December, dents, Docks, Wheelocks, and over waters around their the Hotels Company indicated Banks are also lower this week. Sopart-London cabler, plus rights 34.41 vier

shipment offerings coasts to a distance of 200 miles, that a 10 per cent deposit would At the moment it seems that

lot of investors who from the Für East and

bought the the report, refers to the current be paid immodetely and that the study of the problem by the before June 1955 they expected Bitish rearrangements a lal rate.

International Law. Commission, payment of a further 30 per Dealera reported tir-sized Then it adds "In the mean- c This

CRILL

year they propose saics in the local spot market, time, there remains the risk that to pay out almost $1,200,000 in return to the high levels reach- countries with declared dividends from a hitherto monly on April delivery. One other

up- et carlier this month. Liquida- sheets in that position said at aspirations as regards both difrelored net profit. In 1953 tion has so far been en only. 314 cents. Two sheets were territories and territorial waters the profit was $1,242,802 small scale. quoted at 31 cents. Spot No. 1-which

ith incl

7024

2-1/32nd Inch

General Motors

IM

Gillette Safety. Razor

70%

Goodrich (B. F.) Co.

Goodyear Tire & Rubber

2016

Homilaka Mining Co.

International Business

SAO PAULO Future closings, in cruzeiros 44% per kito were as follows;

Mar.

Machines

374

May

31.00 30.60

International Harveste

International Nickol

July

29.72

854

Oct.

International Paper

30,00

Deo,

International Tef & Tel

30.00

the

Juhn-Manville Co. Kennecott Copper Lockheed Alreraft Leows Incorp.... Lone Star Cement Co. Minnesota Mining Montgory Ward. National Chali... Register National Dislßern National Lead .............

Now York Central

Othe Elevator

Facile Gas & Electric Pacifio Western Oll

.. Pan American Airways

Paramount Platures

Philips Petroleția

Pittsburgh Plate Glam

Redio Corporation

Reo Motor

Republic Steel

Biel Oil Co.

Sinciale On

Socony. Vacuum

Elouthern Railway

Standard Brands ..

In the United Sintes average price of middling cotton at 10 designated spot markets WUB 34.21, cents. Sales at thene markels, totalles 23,013 balea... United Press.

London Foreign Exchange

Now York Montreal Arnsterdam „rukerela Copenhagen

63

(Com.)

80

Parig

Standard Oll of California

Biandort. Oll of IndianIA

Standard Oll of New Jersey

Stokley Van Camp,

Studebaker-Packard Corp.

Bwilt & Co.

Теха Со

Union Carbide va

Unige Pastle Hallway Unita Can Imp

US. pnum

UB. Líne Co,

· Ü.s:/Rubber United, Stato

Woolwork

Stockhol

West Marks

have not found inter-

septavice

at high rates have been caught by the fall and are holding on lts the

the heve that the market will

TURNOVERS LOWER "

The trend in the immediete Rss ware quoted at 31% ceots national

may be While the Hotels' dollar futuro is uncertain but I cannot tho by neminal, Future closings:

encouraged

Peruvian dividend has been declared, this sto a return of interest until the imple to take action which distribution is, of course, sub-yields are better The Chinese in- would have consequences of the lost to the approval of share veston may be expected to wait meet sarhus concerto British holders at their annual meeting until there is some improvement Interests."--China Mali Special. on March 18,

in the. Formoso altuntion. dividend With the

Rubber, issues, have had a try. season, now virtually over

with some ing work following the fluctuat

May

July

Sept.

Dec.

Mar.

LONDON

31.68 31.30-40 30.00 30.34 30.25

Thio market was easier. No. 1

Bnd

Fes spot were quoted at 27% New York Foreign egunetiness over the ing raw material prices in Bingn-

May:

'

pence per lb. Pricts:

London, Feb. 24.

2.78

10-2.74%

No. 1 Repať".

2736-2714

Bettlement 'ho1286' terINS

April

37:2314

June

April/June

July Bopt

1523

Oct/Dec.

March

Other wore Prees.

unchanged ---Ünited

April MAY Estate drepo-thick

Estate crepe-tin

93

The market was dulót. I Prices

per Spot:

Zurich

Exchange

New York.

Condral markala, cie baats, posti:

Canada Kingland-bilelat

unofficial 30-day futuron po-day futuras

Australia 27-17% New Zealand Bouth Africa India Pakistan... Hongkong. Others were,

-Canadian' dolièr

*** Exchange Rates |___

- Business was dond in the focal closed" - todos

exclunge market, this RUD

centive, at the following, cafés sik

17-dollar (per

Formosa situation, share prices pora. Yesterdity, Amalgastateda this week fell to wall below the woro quoted at $1.80 which,, on peak levels of recent weeks? the week, is roughly. stoady, lower Trust at $2.80 are also abouź Turnovers are ' much. with the avenge, figure, for the level, on the week.

MESSAGERIES

MARITIMES

P.O: BOX 331: Queen ** Building ST**data;

PASSENGER/FREIGHT SERVICE DES

salling Feb. 20th Mifling Apr. 8th

BRITISH INDIA S.N. CO., LTD.

One M8h Feb, from Japan

"SIRDHANA"

"SANGOLA”

"WARLA"

"FULTALA"

<14 2012 Feb.

valls

for Aingapore, Penang, Itangoon & Calcutta dur 3rd Mar, from Calcutta Rangoon

Straits 4th Mor. for Japan 3rd Mar, Ralls 4th Mar. que 10 Mar. walle 11fts Mar.

from Caletitta & S'pore for Whampoa & Japan trom Japa

for Singapore, fangooti, Calcutta & Chittagong

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

due 20th Feb. from Karachi, Bombay,

Chohin & Singapore

"OBBA"

"OKHLA“

NSEJA

1st Mar, for Japan dun 30th Mar, trom Japan malis 31st Mar.

for Singapore, Colombo, Bombay, Karachi, Ban- rah. Khorramshahy As Kuwait

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

"NELLORE”

"NANKIN"

dan. 7th Mar. astin 5th Mar.

from Japan

Tor Bandakan, Rabaul, Brisbane, Bydney, Mis bourne & Adamida duo 10th Már. from Australia xalls 20th Mar. for Japan

All vowels bave liberty to call us any, ports on er off the route & the route di sailing are subject

·To change or amendment, with or without notion,

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

EVERETT

LINES

EVERETT ORIENT LINE

refrigerator Fast regular freight

service to Korea, passenger

Japan, Philippines, Indo-China, Siam, Malaya, Rangoon, Calcutta・ and Chittagong.

“REBEVERETT”

Arrives Sails

Feb, 27 from Manila, Feb. 20 for Singapore,

Rangoon, Chittagong,

"BRADEVERETT"

Arrives Salle

Penang,

Calcutta

Mar, 4 from Singapore. Mar. 4 for Kobe & Yokohama. (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)

EVERETT STAR LINE

:

Fant regular freight — refrigerator service to Japan, Malaya, Colombo, Bombay. Karachi and Persian Gulf. (Subject to inducement; for, dirept call Koren)

LAO

Arrivés ·

Salle

Feb. 28 from Japan.

Mar.1 for Singapore, Fort Swete tenham, Madras, Colombo, Bombay, Karachi, Basrah, Kuwalt & Bahrein

“STADTAK

Arrives Salle

ARCTURUS

[Moz,"15"; from, Singapore.

Mar 18 for Kobo Yokohama.

LIMITED, PASSENGER ACCOMMODATIONIS

(Addénting cargo for transhipinezit Kobe/Puran: and. Kabe/Okinawn);

77 STEAMSHI.CORPORAT

rporated: la the