1955-04-26 — Page 9

TRADE and

THE CHINA MAIL, TUESDAY, APRIL 26, 1955.

COMMERCE SECTION

AMERICAN ECONOMY

NEW YORK Stock Market

STOCK

MARKET

New York, Apr. 25. President Eisenhower's announcement enlivened the: stock market today,

Shipbuilding stocks in particu lan responded to his announce ment that a new atomic-pow:red merchant ship is planned which

will cruise the world to de- : monstrate peacetime use of ato- mic energy.

..

Hits New

High-Confidence

Increases

In Boom

By JOHN MORKA

New York, Apr. 24.

Confidence in the economic situation of the United States leading soared to new heights last week. The nation talked about a

boom as never before.

initial

Bethlehem Steel, a Shimbunest, turned two-point loss to a final gain of almost 2 points. I received another boost, along with the rest of the stecis, from near-

record production and anticipa

from the

tion of good earning and divi-¡ dend announcements leaders later this week.

DYNAMICS up

The stock market hit new highs. People are buying more homes. appliances, autos. Unemployment is down. Business is spending more for new plants Autos, steel, electric power, construction—are operating at or near record levels.

All this means lots of optim- year ago. It is possibly the Newport News Shipbuilding ism-and lots of jobs, sales, most heartening statistic avail- climbed almost 2 points, General dividend, profits.

able, says Prentice-Hall, busi- Now there is talk that 1955ness analysts. Dynamics, builder of the atomic submarine Nautilus, rose at one might be the best year in his- And last week there was fur- time, cut back off nearly a point tory, or at least, second to record ther pffirmation on how business after announcement of its plans 1953-54.

to take over Stromberg Carlsen f Only a few months ago, on a "strate-for-share stock, ex-businessmen were cautiously

optimistic about the future, change. The latter improved point

the

Turnover for

day amounted to 2.720,000 shares compared with 2,800,000 om Friday.

The New York Stock Ex-

volume bond

chenge

$4,150,000.

TAS

The American Stock Exchange volume was 750,000 Dew-Jenes elesing averages were:

20 ratke....

15 ties

A stocks

40 bonda

Comm. future price index...

YESTERDAY'S PRICES

Allied Chemicals

Alden Inc. Acy.

All Chalmers

American Airline

American Metal .

American Smeng

American Tel. & Tel.

American Tobacca "B"

Anaconda Copper

Armeo Slee

Armour

Baldwin Lims-Hamilton

Baltimore & Ohlo

Bendix Aviation Cora.

Benguet Cars.

Bethlehem Steel

Boeing Airplane

Canadian Pacific Railway

Cene (J. I.) Co.

Chile Copoar

Chrysler Motors Commercial Credit Commonwealth Elec Consolidated Edison

Continental Steel

Corn Products

Crane Co. .........

Cuban American Sugar

General Motors

149.30 4.89

One reason for this feeling is the accumulating backlog manufacturers' orders.

in

OUTPACING SALES

New orders are outpacing sales, and for the first time in over two years, backlogs are

is hearing corporation earnings. statements for the first quarter were

Exams bus duit reading, headlines: US Rub- ber Posts Prak 1st Sales Up 18 Per Cyanamid,

Cent Sales reach New High, Goodrich Rubber Prost up to New Peak; W. R. Grace Reports 17 per cent rise earnings.

LABOUR NEGOTATIONS

US SENATE

POSTPONES

ACTION

Washington, Apr. 25. The Senate Finance Com- inmittee today postpened action on proposals that would weaken President Eisenhower's foreign trade legislation.

climbing. Incoming business is. Elsewhere,ore the vital labour probably at a new all-time high.

negotiations involving the new annual Manufacturers, in 'February, concept of a guarantee

The auto industry used 16.05 according to Dun and Bradware.

SI per eat of the $1,037,000 to 153.81 street, were 33 per cent above a

increased shipments of steel products. If anything happens

50.85

3 9736

98%

481

W.GERMANY Strike. Loe resection on the rest of

TAKING PI

COPRA

悲

Bonn, Apr. 25. West Germany has agreed to jji | import up to $5,000,000 worth cf Philippice copra as a good- 51% will gesture under a new trade agreement, it was learned here 311 today.

801

40

402%

Chairman Harry F. Byrd said

ail

TIN SMELTER

Washington, Apr. 25. The Senate today ap- proved hill continuing operations of the Govern ment's tin smelter at Texas City Texas until June 30, 1958.

The Senate acted with- out dissent. The measure now goes to the House for action.--United Press. -

HONGKONG

STOCK EXCHANGE

(From Our Correspondent)

World Cotton

Markets

New York, Apr. 25. Cotton futures started the new week on 'n' note of buoyancy" in face of heavy initial tenders on the May contract.

Gains ranged up to around $1.30 a bale, with the May con- . tract getting back to near the

to 33% cent line show cumulative recovery of $233 a

y's low.

bale from last Wednesday's

May contracts closed on the |chy's" high with the general | Jist up 12 to 28 points. Opening prices were up 1 to 13 points New Orleans closed up 15 to 27 points.

Liverpool brokers also were leading forenoon buyers of May which experts thought repre- Business done on the Hong-

sante'd ↑ straddle - réversing kong Stock Exchange this morn-

trainst the oversea market. Ing amounted to $529,828,55. | 2265

30 Noon quotations and the morn-pot firms bought May at

points under July and 62 ing's transactions:

points under October. "Open SHARES BUYERS SELLERS SALES May contracts at the start of trading today toalled 284,500 BANKS

1730. 1540 33 1333 bales,

210100 211

HK Bank Fast A313

INSURANCES

Union Lombard

DOCKS, ETC.

1035 1045

54 @ 1040 6750

K Whart

Dock

Provident

(Old)

2414

11.90

more

Atlanta trade reports said mill enquiries were numerous during the past week, with Texas 15-16 inch shorter staples in

demand.

good

Memphis also reported a some- what better inquiry, although generally the mills and market

Wheelock 7.10 735 606 @ 114 were reported waiting for de

་་

velopments from Washington,

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N, Co..

PASSENGER/FREIGHT SERVICE ·

Outwards "CARTHAGE"

**CORFU

"CANTON

Leaves Loddon

: ཞ ་ 41iled..

17th. april

25th May

"CARTHAGE" Zad Jene

Due Hongkong

and May

30th May

7th June

Ah July

い

Via Southampton, Part said, Adan, Bombay, Colombo, Penang & Singapore'

Homewar

*"CHUSAN”

“CARTHAGE”

“CORFU "CANTON"

Leaves Hongkong Due Londan

2nd May

30th May

5th May

5th June

3rd June

5th July

Art July

1st August

Via singapore, Penang, Colombo, Bombay, Aden, Port Said Loodan

* Also calls Marseilles

"SUNDA"

"SHILLONG”

FREIGHT SERVICE.

29th Apr. from. U.K. & Straštą. loads 9th Apr. for Kobe & Yokohama load 5/5th May for S'pore. P. Swetten- ham, Penang Colombo, Aden, Post Sald. Alexan dzia, Genca, Marseilles. Havre, Loudán, Antwerp. Rotterdam & Hamburg

With liberty to call at Belawan before or after Stražia Ports and at Bombay if inducemras ofers. Tanks available for carriage, of Oil In Bulk." Space for retrizerated cargo, Limited Passenger accommodation.

BRITISH INDIA S.N. CO., LTD.

"WARORA"

In Port

from Japan salls 27th Apr. for Singapore, Rangoon

& ftagong

"PENTAKOTA"due 2711⁄2 Apr. "SIRDHANA" dne 12th May

salis 15th May

from Rangoon & 'S'pore from Japan

for Singapore, Penang, Razgoon & Calcutta

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

Que and May' "ORMARA"

sails 3rd May

LAND, ETC.

HR Hotel, 1720.

600 € 17.30

3500 00 17.40

JK Land... 6331⁄2 5431⁄2 1400 & 14 Shy Land - 1.0231⁄2

Trading volumes and оред interests in the Exchange today

Humphreys

were:

X RIS

10.90

Monta

UTILITIES

May

Valume 9,000

Oper interest

394,500

Tras 20.30 20.40 1250 @ 20:40 Slar Ferry

138 Ymali Ferey 105 107 800 106 December

309

$4,000

368 600

Detabe

29,500

42,700

24.200

*400

C. Ligi (0)

XD

1719:17.90

Light (N)

13.00 14.10 50 14

1300

March May

Total

6,500

12,900

1,900

500 225,800 2,383,800 bales

"ORNA"

31 32

Cement 28.30 29 1800 @ 28.30 15.80 1500 16.70 Hope XD

10000 16.80 STORES, ETC.

Dairy XD.. 20.40

Crawford 25.30

NEW YORK

Prices of futures closed today as follows:

"OZARDA"

salis 8th May due th May

Spat

May

34.350 33,48-50

13

July

October

December

5.70 2.80 2000 @ 8.80

March

Ma

33.95.. 24.14 34.12-13 $4

Jarly

Eleccio

Telephone

corros MischANTOUS

Yangtze .... 6.15 8.30 Alled ...... 4.90 4.95 $300 @ 4.53

11 was hoped that acceptance INDUSTRIALS compromises could be reached Committee meets before the again tomorrow.

The proposed amendments to House-approved administration in the industry. If there is a legislation. would limit imports products, including of Ccontmy could be con- residual fuel oil, to 10 per cent

of domestic scenoble, it is felt..

protect output, Most experts

of lead, producera sce no labour domestic trouble in the offing, They see zinc, fuorspar and hardboard, there, win be

a compromise and tighten the "escape clauses"

of the reciprocal trade law. Settlement. But even these are

The to write off the

House-approved not ready Ecs:ibility of a strike. So far would renew the reciprocal the negotiations have been trade law for three years and secret, and here are no indea- give Mr Eisenhower power to Lone as to how they are getting cut tariffs 15 per cent, five per jon,

cent a year-United Press.

of

35

Across the natior, in a number of industries, notably chemical, mining, railroads, utilities, the possibility of a new wave strikes was evidently seen labour makes its move

to de- Negotiators of the two coun-mand increased wages.

The Government turned over tries will sign a prolecel at the West German Ecchemie Ministry three synthelle rubber plants to BEL this afternoon recommending private ownership on Thursday

Curtis Wright

21

Dupont de Nemours

181

General Electre

General Foods

2315

587/

Gillette Safety Razor

6832

Goodrich (BE) Co.

6612

Goodyear Tire & Rubber

Homslake Mining Co.

4234

International Business Machi

International Harvester

3732

International Ničsel

63%

international Paper

International Tel & Tel.

27

Jehn-Manville Co.

Kennecatt Copper

107

Lockheed Aircraft

Leaws Incorp.....

192

Lone Star Cement Co.

581

Minnesota Mhing

23

Montgomery Ward

National Cash Register" "A"

14

National Distiller

National Lead .....

21

New York Central

Oux Elevators (

Pacific Gas & Electrie Pacile Western C Pan American Airways Paramount Pictures Philips Petrojan.. Pittsburgh Plate Glass Radio Corporation

・Ree Motor

Republic, Steel

Sticla O11

Socony Vacuum

Standard Brands

Standard Of of California Standard.01 of Indiana.... Standard Oil of New Jersey Stickley Van Camp,

Studebaker-Packard Corp. Swift & Co.

Texas Co..

Union Carbide

Union Parle Railway

United Gas, Imp.

U.S. Cypaum

U.S. Rubber

United States Smelting

US. Steel

Warner Bros.

Westinghouse "Electric Woolworth

the conclusion of a formal trade as the industry mapped plans pact providing for $25,000,000 for a big expansion within the

of trade in both directions.,

PRINCIPAL FEATURE

The German undertaking to

bil

World Rubber

Markets

Singapore, Apr, 25, The rubber market was, quiet

few years. The transfer was the and slightly easier with some first under the Government's plan trade and covering suppert at to withdraw from the field, Durfewer level. ing World War II the own

ownership.were;

cf all synthetic rubber plants was

Singapore

Stock Market

Singapore, Apr. 26. Brokers today quoted the following stock prices: British BorneoPetroleum

Synd.

-/10

NEW ORLEANS

Prices of futures closed today as follows:

Spot

July

October December Marcis

July

35.88

LIVERPOOL

Apr. 28

Consolidated T- Smelters

Ord Fraser & Neave Ord

Future closings,. American midding, in perice per lb, WITC as follows: Opening May/June July/Aug.

30.38

Oct/Nov.

30.00

30/84

Dec/Jan

29.87

$1.82

May/Apr.

Fraser & Neato 736 pc pret 30,00 Hongkong & Shanghai Bank $815 Malayan dreweries Rares Hotel

$3.80

$1.80

South British Insurance Seits Trading

$26.00

per kilo were as follows:

$25.00

May

2760

$14.50

July

28,50

$7.40

Oct.

31.70

$11.50

$3.97*

$1.40

$1.30

-China Mall, Special;

Singapore Cold Storage

Straits Steamship

Future closings Unised Engineers Ord

issue licences for imports of uptransferred to the Government. No. 1 rubber per Ib.

to $5,000,000 worth of copra the principal feature of the 432 planned agreement,

The agreement embodied in

the protocol to be signed today was concluded after nearly one month of negotiations. It fore-

4216 4009 an increased market in i

48

44%

40

West Germany for Philippine cxperts particularly of copra

20 and Manila hemp. In return, the Philippines would take in- 13% creased amounts of German other high

4312 machinery and

152 quality finished goods to help nation's economic

the island development

405 United 'Press.

4811

United Fress

London Foreign Exchange

New York Montreal Brussels Copenhagen Lisbon Paris

Stockholm

Zurich

239.95-119 9715

programme.

New York Sugar Market

New York, Apr. 25, World No. 4 sugar futures closed today unchanged with sales of, 135 contracts.

Several acts of Congress since the

war have extended the Government's ownership until recentlyUnited Press.

لرم

London Stock

Market

London, Apr. 25.

May

June July

50-90% 29-85% unquoted No. 2 rubber per th. May 88-884 No. 3 rubber per b. May 67-8714 No. 4 rubber per b. May 834-85 Spot rubber untated Blanket crepe

No. 1 pale crepe

LONDON

The market was easy.

90%-90%

0415-95%

No. 1

Spot Res were quoted at 20%

pence per lb. Prices:

26-2621

No. 1 spot R .......... Caution guided the stock Settlement house term:

May

20-25% market today.

June

247-264 Brokers generally avcided July/Sept. making

Oct./Dec.

28-25 commitments IDE W

General markets, eit basis, parta: pending further clarification of May

258 2591 the Government's future credit June policies. With

287 general elec- Estate crepe thick May. a

Eatate crepe thin May 28.4 tion coming up next month, they Donalso

interested in finding The New York and Amster- out which

way the political dam rubber prices were not wind is blowing.

All sections of the bad à tendency to

to drift along. same casing, some firming, but all within a narrow range;

are

market

A feature of the market was Chinese bonds, which ran up. Domestic No. 6 sugar futures as much as £2% on speculo closed 1 point higher to 1 point tive demand. lower with sales of six con- tracts.

UNCHANGED

received.-United Press.

Werne Bros

Hongkong TH

| Petaling "Tin

Bata Lintang Rubber" Kempas

Estates Lunas Rubber THA New Serandah Rubber

cum diy.

SAO PAULO

Future closings, in cruzeiros

In the United States, the average price of 15/16 middling at ten designated spot markets was not available today. Sales at nine of these markets totalled 9.192 bales.-United Press.

Japanese Scarves

Safety Standard

Washington, Apr. 25.

Industry and Government witnesses today recommend that Japanese silk scarves should be excluded from the provisions of the Flammable Fabrics Act which last year made them in technical violation of safety standards.

The witnesses testified at a hearing of a House Commerce sub-committee which is con-

New York Wooltop sidering a bill to remove plain surface silk scarves.

Market

New York, Apr. 25. Wooktop closed steady 4 higher

to 5 points lower. Futures.

May July October December

World contract traders marked time pending raw market de velopments.

British Government bonds were either unchanged or down

1/8,

W

stocks

March

Domestic contract traders were understood

lower,

May

July

Spot

industrial Leading

Irregularly London, Apr. 25.

substantial Unilever, Rolls-Royce and Ford fairly 2.7934-2.76-13/18 2.76-5/16-2.76-7/10 amounts of raws will arrive lost major fractions.

Ols declined, too, with Royal during the forepart of May on which sellers have not yet set a Dutch off £14. Gold, diamond definite price; refiners also were and copper shares were marked also holding off for the present down Debeers, the diamond

monopoly, was off, almost 29.

Foreign bonds with the excep- tion of Chinese liens; lower, Germans lost as much 3.33 23 21-United Press

19.403-19.41 80.13-80.30 D384-883 14.543-144514 12.291-12.284

Others were unchanged.

New York Foreign Exchange

-Canada-

England-official

Australia

Belgium

Germany

unofficial 30-day futures ..

Futures;

Contract No. 4 (world)

May

July Pak September

March May. July

Spot (cents per lb. fob Cuba).

Contract No, q

3.27

were

Exchange Rates

~Busines ~ ́~ ́~Was

done-in-the-Incal

$52 unometal exchange maricot 558

At the following rates:-

50 g per $1) cos

New York, Apr. 25.

$22.01-7/22-

*2.78-13/10) July

271.273 September 2,7919 November

Search 02821.

MAT Spot Leents & per lui els NY

ex-duty

Finlied - Press.

· Others were unchanged,

1820-1826

173.5-773.6

1757-1720

160.9-170.2

1680-10

168,0-150.2

1835 no

from provisions of the Flammability Act.

.:

Commerce

presentatives said it was never public would result from such Department re- consequently no danger to the

intended that light-weight plain scarves," he added.

napscarves should come under. Mr. Ely Kishel counsel for a 172 traded provisions of the Act setting number of silk scarves im- before up digid standards for flamm-porters, testified that ability wearing apparel.

the Act was dropped last year. the United States imported Mr John L. Kilcullen, 0590

spproximately $10,000,000 of elated.. general counsel at the suk scarves from Japan

said annually. Commerce Department, Scarves are in the nature of accessories, not wearing

sp. parel, and can be thrown off emily if Ignited."

Undbed Preun,

London Wooltop Market

London, Apr. 25. Wooltops-futures market had

NO CASE"

He said

his department an idle day with a turnover of knows no case in more than 50 only 18-los.There were a few has ever caused injury to the years where; a-burning scarf

small declines. Fixtures

May!

Octol

15.80 16/0 May

Jury

524: Singapore (Straits)

1,20

Indo-China piastris. (par. 100) 1.45

4.30. Sterling zotes (per R1).

6.28 Indonesian rupiah (per 100) 13.30

Blam Gesis (per 100):

80 PER CENT CUT

The testing standards set up last year cut off 80 per cent of these imports, he said.

He said the silk scarves, re- present no danger to the public amended many Importers will but that unless the Act 13

be forced out of business.

wearer 110-1201 12072-12044"}Z 12014-12044 The commitice also received Mr George Merlín, counsel #zolaÿ-letter from ---- Commerce for the National Women's Neck- 19 Secretary: Sitclai" Weeks in wear and Scurt Association, which he said og Mlad said his Association urges ex-

To the best of our know-clusion of curves for one ledge plain surface serves: main reason that the scarf is have never presented any not a basic article of wearing serious hazard to wearers; and apparel United Fress

rum Japan

for Singapore fort Swettenhald, Colombo, Karachi, Basrah. Khor. ranzabahr & Kuwait.

dae 7th May · from Karachi, Bombay, Cochin, Colombo & Strata

for Capan

from Japan

salis 19th May · for Singapore.

Madras.

Penang, Karach, trase ZWL, ADIɑun, Khorram→ shane de Kuwai

EASTERN &. AUSTRALIAN 5.5. Cò., LTD.

"EASTERN"

"ARAFURA”

due "1th May from Japan

sails. 1055 May

for Sandakan, Brabant. Sydney, Melbourze Agelado

dus 24th May from Australla sauds 25th May for Japan

All vessels have liberty to call alany poris.où or.. off the route & the route & sailing 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.

EVERETT

LINES

EVERETT ORIENT LINE

Fast regular freight refrigerator passenger service to Kores, Japan, Philippines, Indo-China, Slam, Malaya, Rangoon, Calcutta and Chittagong. "LENEVERETT” “

In Port Sails

Loading

Apr. 27 for Singapore, Penang

Rangoon, Chittagong Calcutta.

"REBEVERETT" ·

Arrives

Sails

May 4

May 5 for Kobe & Yokohama, (Accepting` cargo for trazshipment - Kobe/Pusan and · Kebe/Okinawa)

EVERETT STAR LINE

Fast regular freight refrigerator_service to Japan, Malays, Colombo, Bombay, Karachi and Persian Gulf. (Subject to fiducement for direct cali Korea)

"STAR ALCYONE! S Arrives May 8 trom Singapore, Sails

May 9 for Kobe & Yokohama,

"THAI"

· Aazives Salis

May 18 from Japan,

May 18 for Singapore, Port Swet tenham, Madras, Colombo Karachi, Bashah, Kuwait & Bahrein,

(LIMITED PASSENGER ACCOMMODATION)

(Accepting cargo for transhipment

Kobe/Pussa and Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION SIMILLE

(Escorporated in the. Sapublín of Panama -

"with "Limited, Lishtilly).

Chinese Department. Telephone 28293.. Queen's Building, Telephons 31206.