1955-03-25 — Page 9

TRADE and

THE CHINA MAIL, FRIDAY, MARCH 25, 1955.

COMMERCE

SECTION

NEW YORK COLONIAL DEVELOPMENT

STOCK

MARKET

All Sections Advance

New York, Mar. 24.

on

the stock

Prices exchange pushed higher again in active dealings.

All departments ined in advance. Gains throughout the list ranged from 1 to 3 points with a number of issues showing much wider Improvements...

Aloms.

electrons, a stock split and good earnings bolstered the market today. The rise, coupled with the advance in the past two than $4,000,- days, added more 000,549 the 1st.

GATT Concession To

Britain Will Help

Her Hardship Cases

"London, Mar. 24.

Britain's new "right under GATT to give preferential treatment, in cases of hardship, to colonial products entering the UK market is an important victory. Those who argued that were export outlets must be provided for new colonial industries

have won their point.

Companies connected WN atomic power plants demand from the start of trad ing. The market was so hectic in the first nour that reporting. tickers ran late for a period of 24 minutes.

T

י

That crusading body, the Empire Industries Association and British Empire League, return to this theme in the current issue of their monthly Bulletin, which went to press before it was learned from Geneva that their argument had been put will set a record for the conceded by a majority of GATT countries.

Chrysler gave the market a boost when it revealed that carnings in the first two months? this year exceeded for all of 1954. It suid rst quarter out-

company.

The full in the Senate market' Investigation also helped trading considerably. The general market average registered a gain of 127 to 154.23

totalled

Transactices today 3,170,000 shares, 'compared with 2,730,000 shares yesterday.

MOTORS UP

World Cotton development

Markets

New York. Mar, 24.

Cotton futures today see-sawed narrowly in quiet dealings

but showed an overtone of steadiness most of the time.

In the meter group. Chrysler ran up 3 points to $73 on its grad Coming tercoast. General Maters was up ma ko $9512.

In the atomis power plant sestien, Eabasesk and Wilcox,, a

Routine buying for domestle! went strong favourite, moved mill account and local buying

up 1% points to $111. Com- | hedging' and liquidations. bustion Engineering spurted $44 | points to $784.

Baldwin-Lima-Hamilton

Closing around the day's best levels the list showed not gains led of 6 to 8 points: Opening prices

the market in turnover with were off 2 to up 2 points, New

Indian product was protected in the UK market by quantitive competing im- restrictions on ports. But then imports of lime oil were freed from control and the UK market Was thrown

Britain's responsibility to the colonies. They say, does not endl with the provision of funds for and welfare. A colony which has potential pro- ductive capacity but few or no capital resources can by means open to the more competitive of wise expenditure be enabled Mexican product to produce goods which are

Mexican lime oil is of a neede

quality both for its own use somewhat lower

than and for export. The difficulty, she

West Indian product, however, has always been the but there is five times more profitable

marketing of these of it. goods in competition with more highly developed countries.

EXAMPLE

The Association and League cilo the example of lime oil. Up to last summer, this West

75,900 shares, changing hands. Orleans closed up 3 to 7 points. New York Sugar

The stock closed with a new

gain

Liverpool brokers bought in a

Market

སྭ il

Two-Way Trade Urged

Melbourne, Mar, 24.

The Victoria wheat and wool producers' conference here today urged the Aus- tralian Government to send- a trade delegation to Con- munist countries.

Japan

and Pakistan, in an at- tempt to

open two-Way trade.

Such trade would relieve Australia of surplus arri- cultural products such as wheat and would balance her overseas payments.

conference

also passed resolution ex- pressing its alarm at

threats" of the Federal Agriculture- Mini- ster, Mr John McEwen, *withdraw from the geneal Agreement on Tariffs and and Trade.-Heuser,

peated

Filipino Trade

Delegation.

Bonn, Mar. 24.

The West German Government is working out ari extensive pro- gramme for the Philippines trade delegation, expected here next week, to negotiate the first post- war trade agreement between both countries,

Government officials sold to- In early August last year the day the Philippines "delegation, price of West Indian lime oil led by Senator F. Verano, woud was 39s per lb. It is now down be able to see West Ġerman to 289 6. but is still being industrial plants and meet undersold by the Mexican pro-influential people. duct which is selling at 23s Gd.

CANNOT COMPETE

followed

process

As the West Indian producers cannot compéte with their Mexican rivals' price, the in- of 14 points to $16. small way at the opening

without dustry cannot survive nets also spot interests The Company jumped into Leading

help from the United Kingdom, atemic limelight with projected i bought around 5 000 bles in

say the Association and Lengive. plans for an qtom-powered the May/July deliveries after

New York, Mar. 24.

And up to now this has not lecomotive. Bath Iron Works, the opening. This demand acted

World No. 4 sugar futures been forthcoming. ran up 4 points at one time on to brace the general list and closed 1 to 8 points higher with

"If this

is to be reports of "an atom-powered restrain fresh selling.

sales of 371 contracts.

in all cases where Anished at 956; } desirere. It

The weekly loan figures

Domestic No. 6. sugar futures colonial produce finds self in showed producer redemptions closed unchanged, to 5 points competition with foreign pro-

ahead of im- Steel shureS were up spe- still running

higher with sales

money of 483 duce." they add, "the poundings.

contracts.

which is paid for the develop- Trading volumes and open id- was terests in the Exchange today reflect the strengthening raw virtually taken out

Both markets continues to ment of colonial production is of the Other were:

and broadening pockets of the colonial producer. Open Interest situation oil shares also met demand. May

"Unless the TOS 800 inquiry from refiners

Government is and Of the 1,223 issues traded, 725 July

£52,800

commission houses, Future prepared to take some action to #35.000 closed higher, 288 closed lower Oct

preserve the fruits of this ex- closings: and 210 held unchanged New May

Contract No. 4 (world)

penditure the money might just highs were made by 25 stocks

May

as well remain unused."

up St.

tionally.

Texas Gulf Producing high- lighted in its section. It

4 points to $30%. up

$ and 13 made new lows,

The New York Stock Ex- change both

$3.160,000.

4.

The American Stock Exchange volume was 980,000 shares.

YESTERDAY'S PRICES"

Aden Inc. Acyl

Alled Chemicals

Allis Chalmers

American Airline American Metsi

American Smelting

American Tel, & Tel.

Monin

July

لماTo

а

Valeme ,27,000 20,400

& 730

Dec.

10,400

241,900

4.000

-1-11,800

4.000

16.100

31.800 2.407.000 bales i NEW YORK

July

September

Märch

May

Spo-cents per 1b. fob Cuba)

Contract No.

24.45h

May

33.91

July'

34.14

September

44.09

November

34.13

March

34.20

May

34.11

33.05

Prices of futures closed today

volume was

as follows:

Spot

May

July

Ceinber

December

March

$ 21

May

SMIP

July

American Tobacco "B"

Anacrida Copper Armeo Stel

Armour

Baltimore & Ohio...

30+

Ater

NEW ORLEANS

Prices of futures closed today

U as follows:

Spot

May

July

October

Balwin-Lima-Ramiiion

16

Dornber

March

Bendix Avation Corp.

574 May

Benguet Cona.

1

July

Bethlehem Swel

133

30%

30 1634

Boeing Alone Radway

Canadian

Case (J. 1. Co.

Chase National Bank

Chule Copper

"Chrysler Motors

Commercial Credit

Commonwealt Elec. Consolidated Edison

Continental Steel

Corr. Products

Crane Co.

Cuban American Supar

Curtis Wright

Dupont de Nemours

Eastman Kodak

General Electric

LIVERPOOL

13.75 33,74-75

34.00

34.18

34.30

32.92

Spot (certs per 15, etf NY ex-duty)

2.25

United Press.

London Foreign Exchange

New York

Montreal Amsterdam

Future closings, -American Brussels

Oslo

Seg Middling, in pence per lb. were Paris

as follows:

Mar/Apr.

May/June

July/Aug

Oel/Nov.

Dec./Jan.

SAO PAULO

Future closings,

31.20 31.29-30

30.34 20.00"

Stockholm West Marks Zurich

Press.

Londen, Mur. 24.

The delegation is expected to stay in West Germany for about three weeks, Reuter.

TODAY'S

SHARE PRICES

(From Our Correspondent)"

Business done on the Hong- kons Stock Exchange this morning amounted to $270,559. Noen quotations and the morn- ing's transactions:

SHARES BUYERS SELLERS SALES BANKS

HK Bank

5 1550 1560

-

INSURANCES"

Union... MS Lombard Underwriters 10.20

SHIPPING

Asia Nav.

DOCKS ETC.

Whart

Dock Provident

(Qld) Wheelock

40:5

24,30

7.13

17 17.20 1500 4 85 65

Sthal Land

Realty

63,50 400 g 83C 2.05 1600

LAND, ETC. HK Hotal HK Land

UTILITIES

fram 20.20 20.40 - 400 @ 20.50 1000 29.30 Star Ferdu

114 Yma FerTY 110 14 C. Light (0)

C. Light (N) Electric Telephone INDUSTRIALS

Centent

.....(N)

COTTONS

1750

14 420

26.90

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTÁL S.N. CO.

PASSENGER/FREIGHT SERVICE

Outwards "CANTON" "CHUSAN” "CARTHAGE" "CORFT"

Leiver London Due Hongkong

4th Apri

*16th April

30th March

2nd May

27th April

30th May

Via Southampton, Porr Sald, Aden, Rombay, Chismbe, Penang & Bizapore

Homewards

"CANTON"

*"CHUSAN"

"CARTHAGE"

"CORFU"

Leaver Hongkong Due Landon

8th April

ted May

6th May

3rd June

9th May

30th May

6th June

3th July

Via Singapore. Pansas, Colombo, Bombay, Aden, Port Said & London

* Alto calls farset.

"SURAT"

FREIGHT SERVICE

"SHILLONG" due 7th Apr. from UK. & Straita

foads 8th Apr. for Kobe & Yokohama loads 14/13th Apr.for S'pore, P. Swettez- ham, Penang, Colombo, Aden. Por Bäld, GenoS, - Marseilles, Havre, Lon.. don, Antwerp, Boster- dam & Hamburg

"SUNDA"

due 23th Afr. from U.K. & Strang loads 28th Apr. for Kobe & Yokohama

With überty to call at Belawan before or after Straits Ports and at Bombay it durement ofers

Tanks available for carriage of Oil in Bulk. Space for refrigerated cargo. Limited Passenger accommodatiou

BRITISH INDIA S.N. CO., LTD.

due 26th Mar. from Japon

"SANGOLA”

"SANTHIA"

"WARLA"

salis 27th Mar.

for Singapore, Perang Hanzoon & Calcutts due 28th Mar, from Calcutta, Rangoon Je Strait salls 29th Mar. for Japan due 10 Apr. teams Japan sala 11th APT. for Singapore, Rangoon,

Calcutta & Chittagong

P. & 0./B. 1, JOINT SERVICE

due 29th Mar, salls 30th Mar.

STORES, ETC.

Dairy

12.00

20.80 125 20:80

"OKHLA"

Texles

6.10

MSCELLANEOUS

Yangiszy Allied

6.10

"OBRA"

4.63 4.825 1200 ₪ 4.90

dye 5th Apr. ailath Apr.

T

"OZARDA” dus

HONGKONG STOCK EXCHANGE

PROFIT-TAKING CHECKS

MARKET RISE

By A Special Correspondent

Share prices continued to advance on the Hongkong Stock Exchange this week until

World Rubber yesterday when profit-taking set in cutting back

Markets

Singapore, Mar. 21. The rubber market was quiet with little glination to trade, There was more buying towards the close, Future closings were: No. 1 rubber per lb. Apr. 7-8Y

Yay 972-87 June unqualed No. 2 rubber per lb. Apr. 566-67 No. 3

0574-88 89-831% 374-87 1222-133

2.792-2.79-5/15 No. 4

10.633-10.63% 139.70-130.7231⁄2- 20.011–20.014

9772-07T 14.54-14.55%

31.79-11.80% 12.23-12281

Spot rubber unbaled Blanket crede No. 1 pale erepe

NEW YORK Futures today closed 10 points lower to 10 points higher" with

30.93 Others were unchanged.-United sales of 247 contracts.

the gains and leaving the market roughly steady on last Thursday's closing rates.

and

There were scmc rotchlement of their new one for one exceptions, however. Wheelocks issue at $10 a share to finance and Allied made good gains and their fat-building programme. land issues were again prominent Quoted last week at buyers with Humphreys leading the $22.20, they sold on Wednesday advance,

$ $23.20

buyers were offer The market closed at noen ing an extra 90 cents yesterday yesterday as a mark of respect without attracting sellers. to the late Mr Lau Tak-po, Other land. issues were pro- Managing Director of the Hong-minent Hotels continued to ad- kong and Yaumati Ferry Co Ltd vande afgely, I believe, in the and a member of the Stock Ex-revelation of their healthy assets change whose affiliations with in the balance sheet. Last Ice House Street go back to pre- Thursday they were $16.20 and war days when Mr Lau was a yesterday they started at $17.40 member of the old Hongkong before casing to $17.10 Hongkong Sharebrokers' Association. Lands were slightly better on Wheelocks and Allied advanced the week closing at $65. Realties smartly

the *I

news that the also appear slightly dimer at Switching of. September British Treasury had approved $2.025. contracts at 35 points under July provided one of the main the transfer of the control of the

OUT OF FAVOUR Gas Company (70 per cent of Toward the n

the shares of which are now close Wall Street commission weld

Banks, having made by the

Wheelock two houses were accreMed buyers Marden Companies) from London bonus issue, are temporarily out in December. Dealers said the to Hongkong

of favour and there was cre Quoted at a a quiet

sale yesterday of 12 at $1,550- New York. Mar. 24.

market showed little reaction

sold yesterday. at $7.30 before 2.70-3/18

In the utilities, after a week Congressional approval of the

whEe Allieds lesing at $7.20, 2.08-2.70 unafiicial

of some good rises, profit-taking 2034

sale of 24 out of the operations, moved up from $4.175 to $4.95..

The spot market slowed after

The market is also expecting | down sligh

set in yesterday sending prices Canadian dollar rates

buyers sellers moderate forenoor business the announcement of

Cements and a good Naryang "Cction

were cleo 1.81-25/32 1.01-27/37 involving May one sheets at 30 dividend by Allied Investors for slightly lower."

cents and June one at 30% their first year of operations and 1.01-23/32 1.01-21/32 cents pound. Spot No. 1 Rss this has given a spur to the demoderate activity on the market Until yesterday there was 1.01-28/32 1.01-29/32 spot were quoted at 314 centsmand for these shares. 1.01-23/32 1.01-29/32 nominal. Future closings: 1.01-28/22-101-29/3

in cruzaras New York Foreign ng features

1554 per kilo were as follows:

LIBERALISATION

OF TRADE

Paris, Mar. 24.

The members of the Organisa

Exchange

$1.01-13/10 to the overnight news about $7.10 last Thursday, Wheelocks 325 down on the weck.

1,01-25/32 1.01-21/32

3130 30.75 30.10 30.10

29.75

714

Apr.

May

27.90

General Foods

802%

July

Genami Motors

ብን

Ort:

25.00 20.50

Gillette Safety Razor

50**

Deca

Goodrich (B, T.) Co

03%

May.

Goodyear Tire & Rubber

Bomstake Mining Co.

:43*21

International Business

29.95 .30.10 In the United States, the average price of 15/16 middling Holland

Canada England-oficial

Machines

300% at 10 designed spot markets" was

International Harvester

International Nickel

International Paper

13.73 cents. Sales at these Spot: 883 Centres tolalled 10,813 bales. →

International Tol & Tel

23

United Press, "

John-Manville Co

REK

Kennecott Copper

110

Lockheed Aircraft

5137

LEDING INCOID.....

182

Lone Star Cement Co.

cicBe high low Future: 10-dar 00-day 6-month

Minnesota Mining

92

-United Press.

Montgomery Ward

79

July

National Cash Register

434

National Distillers

LONDON METAL

Sept.

Dec.

*PRICES

Mar.

May

London, Mar. 24.

LONDON

for the

ZAK

tion.

00%

of trade liberalisa- today. Prices closed today in The market was very steady sterling long fon as follows: No. 1 Ras spot were quoted at

buyers sellers 28% pence per lb. Prices:

45% such

Tin spot

123

734

73

*16

8512

354

340

No. 1 Has spot

24-254

Settlement house texto:

Shell Of Co

Bi

248

May

Sinclair Oi

1033/

Juge

B47

JulyBeptember

Southern Railway (Com)

851

Standard Brands

Standard Ol of California

United Fress.

General MRTY cht bests,

Apri

May

Estats crepe thick, April

National Lead ...

New York Central

Otis Elevators ..... Facific Gas & Electric Facific Western Oil Pan American Airways Paramount Pictures

Philips Petroleum Pittsburgh Pinte Glass

Radio Corporation

Rea Motors

Republic Steel

Socony Vacuum

Standard Osi of Indiana-

Stardant Qu.of.New Jersey. Stokley-Van Camp.

Studebaker-Packard Corp.

Bwin & Co.

Texas Co.

"Union "Carbide

Union Phale Aalway

United Gas. Imp

US. Gypsum

U.S. Line Co,

U.B, Rabber

Unilad States, Smelung

Us. Bleet inova

Womer Bros.

Woolworth

Westinghouse Electric

61% tion for European Economic Co-operation (DEEC) today.

41 refirmed their will to work

18% extension

strengthening

All metal markets were steady And

The OSEC Council issued

A declaration after 3-month examining the relationship be- Copper spot tween the organisations'

code 3-month

820 liberalisation-one of whose Lead Mar.

JUA aims Is the elimination of trade Zinc Mar. barriers and quotas throughout

7 the world and the rules of the

1137.

General

June

Agreement on Tars NEW YORK METAL

1992 and Trade (GATT)-—Renter

13

4914

Exchange Rates-

...

PRICES

New York-Mar. 24 Pribes of metal fire fisk today in cents per ib, as followe

'Business was done in the local Lead)- Mar. unofficial exchange market" this

morning at the following rates:

43

Mar

80%

U.S. dollar per donj Sterling hotéz (per 41)

15.33 Zing

“Apr. 27.63 Copper Mat,

1.80

Indonesian rupian (per 106) 14.89

71% Stam ticals (per 100).

Singapore (Straite), 2 Indo-Ching plastres (per 300)** WIT

October/December

HUMPHREYS RISE.

from Japan

for Singapore, Colombo, Karachi, Barah. Khor ramskor & Kuwait, from Japan

for Singapore, Penang. Colombo,

Bonabuy

Kazachi

8th Apr. from Bombay & Strálts sa th Apr. for Japan

EASTERN & AUSTRALIAN 5.5; CO., LTD.

"NANKIN",

"NANKIN"

in Port

from Australia rails 26th Mar. for Japan

due 19th Apr., Irons' Japon salla 20th Apr. tar Sandakan. Brisbane, Sydney, Melbourne & Adelaide

All vessels have liberly to call at any porta on or off the route & the route & 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.

H

EVERETT

LINES

EVERETT ORIENT LINE

Fast regular freight passenger

service .to

refrigerator

Korea, Japán,

Philippines, Indo-China, Siam, Malaya,

Calcutta Rangoon,

"LENEVERETT"

Arrives Salls

their

and buying interest appeared to be

Utilities fairly well spread. appear to be in

a temporary Mr Marden's disclosure in the eclipse while investors are com Press that a £250,000 plant for centrating on a number of mere manufacturing coal and oil gas ethactive issuós. It will be is to be built in the Colony noticed, incidentally, that buyers foreshadows an increase in the have advanced their bids for Gas Company's capital but so Hongkong and Kowloon Wharves for the Whectocks Chairman has another dollar

"The raw refused to make any statement

rubber price in un this question.

Singapore is lower on the week Humphreys moved up almost but share prices here, are, not $2 on the week on the announce-showing, much change

MESSAGERIES MARITIMES

P.O. Box 53 Queen's Building Tel: 26651

FAST PASSENGER/FREIGHT SERVICE

The market

steady, "CAMBODGE' 14.156 Prices closed today in guildere $24.44 per kilomam, CIF April as

00106 90.246 follows:

and Chittagong,

Mar. 28 trom Singapore.

Kobe & Yokohama, Mar, 29 for

"BRADEVERETT”

*Arrives Sails

Apr. 3 from Manila,

Apr. 4. for Singapore Penang

Rangoon, Chittagong Calcutta

(Accepting carro for transhipment Kobe/Pusan and Kobe/Okinawa).

EVERETT STAR LINE

to:

Fast regular freight - refrigerator service Japan, Malaya, Colombo, Bombay, Karachi ̧ and Perdán Gulf.

(Subject to inducement for direct call Korea)

"STAR BETELGEUSE!!

In Port Balls

"THAI" Arrives Sális

"Loading

Mar, 25 for Singapore, Port Swetten. ham, Madras, Colombo, Bombay, Karachi Khor- ramshahr, Baarab, Kuwait, Be Bahrein,

Bailing Mar. 27th sailing Apr. 21st.!

"Apr· 13 from Singapore,"

Apr. 14 for Kobe & Yokohama.

(LIMITED FASSENGER ACCOMMODATION) (Aecepling carro for transhipment Kobe/Pusang anda. Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A

(Incorporated in the Republic of Panama Pa

-write +%Amite #Liability)

Chinese Department: Telephone 28293, Queen's - Building, Telephone 31206.

sailing Apr. 9th sailing May 20th

FAST FREIGHT SERVICE

2.ANADYR”

230 buyc MEINAM”

20. 1 utbet www... 2.53 paid- 10.23 39.241 No.13 rubber

No

J