1955-04-29 — Page 9

TRADE and

THE CHINA MAIL, FRIDAY, APRIL 29, 1955.

COMMERCE SECTION

NEW ERA OF STABILITY FOR THE

RUBBER INDUSTRY Synthetic And Natural Will Compete On Equal Terms

.

Akron, Ohio, Apr. 28..

An American rubber manufacturer forecast today a "new era" of stability for the industry and said that hence- forth synthetic and natural rubber will compete on equal terms.

This new

era, Mr P. W. Litchfield, Chairman of the Goodyear Tyre and Rubber Co. said, has been ushered in with the passing of the nation's synthetic rubber facilities from Government to private control.

NEW YORK

STOCK

MARKET

. New York, Apr. 29. Steel prices cracked in the final minutes of trading to- day on disappointing divi- dend news for Bethlehem and touched off the biggest loss in industrial stocks since March.

at

The denn of the American ) up te the point of “adequacy"

be maintained rubber industry predicted that and should

He pointed out the countries in the Far East present levels. which are dependent upon that private industry runs cer- natural rubber will also become tain risks in buying rotation rubber from the Government us "more stable"

buying fresh compared imports.

said now that only small sogments of US total output of rubber goods call specially for natural rubber versus synthetic and vice versa, it was possible lo maintain high product quality the US could obtain so long as natural rub or for 25 per cent of its total needs.

INFLUENCE MARKET "Henceforth,

10

INCREASED DEMAND He forecast that world de- mand for rubber-now at the rate of 2,705,000 long tons--will increase, steadily and substan- tially in the years to come.

CEYLON TEA FOR LONDON

Colombo, Apr. 28. Existing restrictions on the export of Ceylonese tea for London auctions will be removed for a period of three months, the Minister of Agriculture and Food. Mr J. R. Jayawardena, stid today,

He announced the Scheme for relief of Ceylon's tea industry during dis. cussion in Parliament.

He said the Ceylonese Government will enter the

Colombo market as a buyer In the Interests of the tea industry. He also said that there will be no change in the present export duty on tea which will remain at one runce per pound. United Press.

TODAY'S SHARE PRICES

(From Our Correspondent)

T

HONGKONG STOCK EXCHANGE

"PEACE" MOVES PUSH

PRICES HIGHER

By A Special Correspondent

"Peace Hopes Brighten" said the banner headlines in yesterday afternoon's paper and in Ice House Street the stock market had caught the mood. Prices were moving up slowly but surely under the lead of Lands and Utilities. "Blue Chip” utilities were approaching this year's boom levels. *

The Stock

Exchange reaction to Chou En-lai's "peace" message on Formosa and Mr Dulles statement indicating that the American Government thought it significant enough to make further inquiries was rather slow in materialising.

Chou's statement was published | Electrics move up to $37 ($1.50 in the Sunday Press. Brokers higher on the week), Lights think the contradicting state- | follow after them (up 30 cents mont he made the next day and to $18).

the State Department's initial Yaumatis moved up a $1 but reaction insisting on the not too much can be expected presence of the. Nationalists at of either those shares of Star any talks, dampened enthusiasm. Ferries until the expert report

But as optimism grew in Lon-on the cross-harbour

tunnel don and Washington, buyers ap- scheme is released. peared on the Stock Exchange, Trams are showing e rise of activity increased and then prices 80 cents on the week (to 821) started to move up.

but Brokers say investors have not forgotten last year's strike are a little apprehensive

The turnover which

Accordingly, he added, "it is

ing amounted he said, "natural obvious that we must look to an and synthetic rubber will com- expion in the synthethe run Noon quotations and the morn- $1,870,000 yesterday. pete on equal terms. The most ber industry to meet these in- economical-to-use material will creased demands. United Press. heavily. influence the market price of the other?

Lo

In a statement. Mr Litchfield urged

the US to begin the stock- Bethlehem directors rubort-

irst quarter in piling of synthetic rubber ing a record

of guarantee adequate supplies in event natural rubber sup-

come, ordered a dividend

the

$1.50 a share drop from the sites in the Far East should be first quarter's $2.25 payment but an increase over the $1.25 cut off.

dividend last year.

Some in the financial com- munity had expected a stock split but Chairman Eugene Grace told stockholders such a move "doesn't scem Ivasible

this time

at

He said that the natural rub- ber stockpile has now been built

World Rubber

BETHLEHEM SLUMP Bethlehem slumped nearly 9 points at its low and closed off 8 at $135. Other steels follow inland, US Steel, suit with

Markets

Singapore. Apr. 28. The rubber market was quiet tradic inclination. and Wheeling down 1 points with little

Youngstown Sheet and Tube

or more, Republic off more than Future closings were:

point and National down No. nearly one.

to

rubber PK'T ib.

May June July

K-9014 89-891- unqualed 88-8214

KP21-91

80-81

Leaders in other groups alse No. 2 rubber per lo. May went off sharply-2 points each No. 1 rubber per 1b. May 37-874 in Du Pont, Chrysler, Westing-No rubber per lb. May

Spot rubber unbated. house Electric,

Blanket grepe No. 1 pale crepe

NEW YORK Futures closed today 40 to 50 points lower with sales of 141 contracls.

The industrial average, at new all-time high of 430.64 just last Tuesday. slumped points to 423.19."

4.91

The heavy last-minute selling climaxed a day which featured

World. Cotton

Markets

ing's transactions:

SHARES BUYERS SELLERS SALES BLANKS

HX Bank

.. 1530 1533

• East Asia... 212 INSURANCES

Union

Lombard SHIPPING

:

1030 1040 50

17c 8c 4000 @

To

2400 1500 (24.

was

Business done on the Hong- kong Stock Exchange this mornaround $800,000 on Monday and and

to $1,156,583.20. Tuesday jumped to a hectic about them. These shares re- Dain superficially attractive And brokers believe this with an 8.1 per cent yield, bullishness is not just a tem- | however,

UTILITY YIELDS., porary phase.

If there

Telephones is more good news

at $321⁄4 are 50 331515 from London (where the Cabinet | cents better on the work.

has instructed

Here Peking its

are the "Blue Chip" Charge to clarily Red China's Utility yields at present Lights intentions) on Washington, and 5.55 Electrics, 6. Telephones,

inward

from 4.7 and Yaumatis, 7.5 per cent, remittances overseas Chinese continue Event

!stores,

which EYO reasonably heavy (and Chinese generally a fairly quiet section, 30 23.60 Bankers say they are expected came in for demand yesterday, 495 a 23.80 to) I see market prices going All counters in this section

drew 300 @ 24.

still higher next week.

buyers and Dairy' Farms' Show 40 cents rise on the week to NEAR BOOM LEVELS $20.00. This was possibly at- Utilities are climb- tributable their good profit of Already A continuation of May con

Wheelock.. 1.50 1.26 15.900 2 7.20 | ing to the tract liquidation, plus uncer-

boom levels of $4,539,312 announced by Dr the tainties relating to future gov-LAND, LFC. emment policies on farm price support, production controls and subsidies, acted to keep prices

New York, Apr. 28. Cotten futures regained 2 foothold today after a shaky week but still closed on the downside.

the defensive. An irregular afternoon rê- covery was coupled with ap- parently sold out market condi tion rather than any buyers traders said. concentration, Trading turned quiet ол the rebound.

8514-832 Uppermost interest, aside frum the May situation, centred on 94-951ews of a Senate group recom- mendation for intermediate sale of 700,000 bales of Government- owned surplus cotton in oversea markets and the granting of an export subsidy if needed to pre- vent the accumulation of cotton surpluses.

Dealer interests were on both early irregularity, a second sides of the terminal market with hour's Aurry of selling which put the overall trend influenced by tickers behind as much as three the primary marke: action.

A small business in physical minutes and a subsequent meagre

rubber included sales of May recovery.

Turnover amounted only to four sheets at 30 cents, New 2,550,000 shares, smallest since York delivery, and one sheets April 7. compared with for New Orleans July delivery at 2,660,000 yesterday,

was

31 cents a pound. SUSCEPTIBLE

Future closings were: Commentators note the list May practically susceptible to July

September ot selling

the large December because paper proffs piled up in the March recent rise to all-time highs. The May selling today, together

The market was quiet. yesterday's loss, sliced nearly

pence per $2,000,000,000 from the value of closed in

all sted shares.

Rails

held

with

LONDON

follows: fairly well, with No. I Ras spot...........

Settlement house ter

losses ranging to 2 points in June Santa Fe and Union Pacific.

Asia Nav, DOCKS, ETC.

EL Whart Deck

Provident (0%)

.....11.80

12 1600

i30 125 110 1.60 1.90

- IK Hotel 171117.60 2006 17.80 January (on an ex-al basis). Hon. S. N. Chau on Wednes

FIK Land ....5935 0815 760 63

The demand for these shares day. 500 of 045 has touched off rists extending Waisons sold

504 65 200 * 65%

$13.40

at every section of yesterday--steady on last Mon- to virtually the market with one exception, day's sale price. Many brokers 2246512 the Wheelock Marden group. think this share is a good buy at S'hai Land 1.10 Humphreys

Wheelocks themselves moved its present yield of 7.4 per XR's 1620 161⁄2 900 / 16.20 up only five cents yesterday on cent. UTILITIES

Cements rose 20 cents on the 21.10 21.30 2300 21.10 two 1,000-lot sales. But I stick to

that week and at their present price original contention 500 @ 21.20 my

:

Ferry 0.38 1006 137 they are worth buying despite of $29 are, within a $1 of their Y'mndi Ferry 107 100 000 @ 106 the fact that there are many highest price of the year en an C. Light ro

XD

18.30 105 500 @ 12.40 brokers who are very disap-ex-all besie C. LIE (N)

with their poor show- pointed 14.30 14 1000 @ 14.20

500 130 138..... 1000 14.10

Tram

Star

RUBBERS MORE ACTIVE Yangiszes and Alled, as I Even

earlier, the big stocks-Unions said

were 'duli

and Electric 371 3500 3714 and Banks-joined in the ad- neglected. Telephone? 3215 690 @ 329 vance with Unions rising $15 on Nanyongs have announced a INDUSTRIALS

20 29.20 -2500 * 29 *

$1040 and Banks 60 cents final dividend making the week to Cement... Bopa XD 15.40

vary steady at $1535 on the sale ja dollar for the year, which giver. them an extremely good yield STORES, ETC.

Dairy XD 20120.70 318 @ 20:80 of 118 shares.

1800 20.80 Providents are firm at $11.90 of 11.3 per cent at their present

20.80 ... 13.30 13.401 ( 13.40 and with prospects of increased price of $8.80-8.90.

The rubber section has been 13. trade and math better earnings

Watson

L.

the

Crawford 25.70 Kwong San

Hong COTTONS

157

5.90

9

6.16 04

Foreign interest, led by Liver. pool brokers, were the outstand- ing sellers in early dealings, May

accompanied liquidation issuance of delivery notices for 4,700 bales the Liverpool market closed 7 to 13 points lower.

Trading volumes and open

31.15 interests in the Exchange today 31.11

were: 30.65

30.20 Month

29.95 Mary

25.50 July

October December

161,000

Volume

Open interesti

21,400

28,500

20.000

11,700

6.100

11,600 8,900

880,000 445,200

358,300 176,500 203,500

94,300 111,100 2,382,500 bales

NEW YORK Prices of futures closed today as follows:

Prices March lb, as. May July Total

2014-201

26-281-

July/Sept.

Jan/Mar,

25424-2532 259-25 203-204

Spot May

2011-202% July

2012-282 Oct.

25-228!

Dec.

thin

£27-0 201

Mar.

May

-United Press,

July

Non-ferrous metals were hard Oct. Dec.

hit Aluminium lost more than General markets, cif basis, ports:

2 and Anaconda Copper nearly May

2. Of 1,208 issues traded, 707 June

July

The New York Stock Exchange Estate crepe thick May

were lower, 271 higher.

bond volume was $4,060,000.

The American Stock Exchange

volume was 740,000 shares.

New York Foreign Exchange

England-official

New York, Apr. 28.

62.707% unoficial

3.71-2.73 30-day futures ... 27031⁄2 30-day futures... 2.78% Canadian dollar rate:

London Foreign

Exchange

New York

Montarci Arrarterdam Brussels Copenhagen Lubon Calo Part Stockholm

NEW ORLEANS

Textles Nanyaug Yangtze Allied

2000

in the first quarter of this year, slightly more active with rates

showing a fractional improve 70 158 they are due for a rise soon.

"Since Wharves sold at $78ment.

about ten days

shares

have

these ago been quietly

4.50 4.94 14500 494.9215 moglected. A seller is offering New York Sugar

Singapore

Stock Market

$79 but there are no bidders. *Hotels (up 40 cents on the week to $17.50) and Lands (up $1.50 to $853 are firm at yester day's levels. "

- FURTHER MOYES?

Market

New York, Apr. 28. World No. 4 sugar futures closed 1 point lower to 1 point

That Hotel share-buying bid higher with sales of 123 cop- by A. Hongkong businessman tracts. mentioned recently" in this

Domestic No, 6 sugar futures column has come to a temporary closed unchanged to 2 points halt,

I hear. His object was to lower with sales of 79 contracts, Cornét enough of

World contract ruled mostly the shares to force the Hotel company to steady following the prompt. pay a higher, dividend. I have absorption of 187 delivery notices against the May contract, no idea how many shares Tartunlly bought but from Ice Future closings were: House Street I understand that Contract No. 4 (world)

day

he

Singapore, Apr. 29. Brokers today quoted the following stock prices:

30.30T

Opening

33.53

33.67

British Borneo Petroleum

Syndicate

33.84

3.85

Consolidated Tin Smelters

Ord.

13.83

34.012

308 54 Fraser & Neave Ltd., Ord. $1.43 Fraser & Neave Ltd. 1%

33.45

cum. pret ..................

$6.60

Hongkong

Shanghai

Banking Corp. ...

Malayan Brewerica

$815

*3,80 12.02

it was a

"Eubstantial number.'

There may be

33.350

3.65

Singapore Cold Storage Y $1.7) South British

July further moves

Sept. situation later is the farth

Insunnes

05.70-71

Co. Ltd. Straits Trading.

May July

$25.00

33.82

United Engineers Ord.

31440 $11.30

31.08.

Wearne Broɛ............

$2.77

The best

34.

Hongkong Tin Ltd.

Ta 60

courge,

23.17

Petailng in Lül

$4.30

Batu Lintang Rubber Co.

Ltd,

Prices of futures closed today Raffles Hotel.....

as follows:

Spot

May

July

London, Apr. 23.-

Dec.

Mar

MAY

2.70 13/15-2.797

2.76 83/16-2.78%

10.15-10.651 $40.00-140.0215 29,60-19.40% 80,30-8040 20.011/ 29,01%

08114-0017

Future

#8888

Id

Steamship

21.30

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENCER/FREIGHT SERVICE -

Leaves London Das Hongkons Sailed

Outwards "CARTHAGE" "CORFU"! "CANTON"

"CARTHAGE"

"

flamewarda

:

2nd May

20th May

25th May.

June

27th June.

21 July

Via Southampton, Port Said, 'Aden, Rambsy, Colombo,

*"CHUSAN"

"CARTHAGE"

Penang & Singapore

Leaves Hongkong

2nd May

“CORFU”

"CANTON"

4th May

3rd June

1st July

Due London

30th May

5th June

3th July

1st August

Via Singapore, Penang, Colombo, Bombay, Aden,

Fort Bald & London

•* ́Also calls. Marselies.

"SUNDA"

*SHILLONG"

"SUNDA"

FREIGHT SERVICE

dre

1st May from U.K." & Straits loads 2nd May for Kobe de Yokohama Kads 5/8th May tur S'pore. P. Swetten..

hara. Penang, Colombo, Aden, Port Said. Alucas- desa, Genoa, Marseilles, Haute, London, Antwerp. Rotterdam & Hamburg

ports 29 "SHILLONG" above

loads 28/29th May for

With liberty to call at Belawan before or after straits Ports and at Bombay if inducement offérS. Tanks available for carriage of Oll in Bulk Space for refrigerated cargo. Limited Passenger accommodation

BRITISH INDIA S.N. CO., LTD, "SIRDHANA” dus 14th May from Japan

salls 15th May

“FULTALA" "due 8 June

"SANTHIA"

sails 9th June

for Singapore. Penang, Rangoon & Calcutta from Japan

for Singapore. Raziyora & Chittagong due 10th May from Calcutta, Rangoon

& Straits sa 11th June for Japan

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

dec in May from Japan salls 2nd May

"ORMAKA"

for Singapore, Port Swettenham, Colombo, Karard, Basrall, Khor razzabakr & Kuwait.

6th May from Karachi. Bombay, Cochin, Colombo &

67

als 7th May

"ORNA"

due

"ORDIA"

“OZARDA"

que 11th June

malis 12th May dos 18th May kalls 10th May

Straits

for Japan

from Kakinada, Madras & Straits for Japan

from Japan

for Singapore, Penang, Madras, Karachi, Bas

rah, Abadan.. KhorzoKTA- Lan Ốc Kuwait

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

due 15th May from Japan'

"EASTERN"

"ARAFURA”

salls 16th May for Sandakan, Brisbane,

Sydney, Melbourne Adelaide

dos - 24th May" from Australia

alls 25th May for Japan.

All vessels have liberty to call at any poris on er of the route & the route de 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

refrigerator

service to Korea,

Japan, Malaya, Chittagong,

Fast regular freight passenger Philippines, Indo-Ching, Siam,

and Rangoon, Calcutta

"REBEVERETT"

Arrives Salls

May 4

May 5 for Kobe & Yokohama,

"NOREVERETT"

Arrives

Sails

May 21 from Singapore, May 22 for Kobe & Yokohama, (Accepting cargo for transhipment » Kobe/Pussu and --- Kobe/Okinawa}

EVERETT STAR LINE

Fist regular, freight refrigerator service to Japan. Malaya, Colombo, Bombay, Earschių, und Fersian Gulf..

·(Bubject 'to inducement far direct call 'Korea)

“STAR ALCYONE”

BAD.

Arrives Bail

"THAI

Press

Arrives Sals

May 8 from Singapore, May -9° for Kobe & Yokohama,

May 18 from Japan,

May, 19 for Singapore, Port Swet

tenham, Madras, - Colombo, Karachi Bashbah, Kiwalt & Bahrein

1010 NEW YORK METAL

FUTURES

New York Apr. 28,

Exchange Rates Metal Intimes closed today in

centa perib, as follows;:&

Buses was done in the local Lead

Mey

unofficísi • exchange

market thes

weining at the following-malerie

Tin

Mday:

U.S., dolier (per $1},

Sterling notes (per. £1) 255 (13.77 || Zine

Indonesian rupiah. (per 100)

621

2

Juné

MAT

estam dies (per 100)

Singapore (SUTRADE)-DON

Indo-Cima, plastres (per 100).

·June Miy 27.85 Copper

L31

-- June 8.97. b-bid t-traded.

United

in this year when the Hotel company receives a large instalment from Sept. pond the syndicate which bought the Spot-fcents per ib. top Cuta)

Pedder Street plot.

Contract. No,

$3.40 Kempas Ltd. LIVERPOOL

American Lunas Rubber Estales Ltd. $1.90 closings, middling, in pence per lb. were New Serandah Bubber Co.

Oct/Nov. Dec/Jan.

·Mar/Apr..

BAO PAULO Future closings "in cu

per kilo were as follow May

October

December

113 90.90b 50.351

14.20b MarchWater

In the United States," average price of 15/16 met

10.88 at den designated spot.

10.3**

was $3.38 cents, 7-Sales

* cum div--China Mail Special

LONDON METAL PRICES

London Apr, 28.

All metal markets were steady 90s today: Prices closed in sterling $200 per long ton as follows

Vbuyura.notlars

58.005 Centros totalled 9,938 bales

ups United Press.

5330 | Tin spot o

the 3-month

¿Copper; spot invoke 12131

3-moots.

Land “Zod

zine, ind

of July movements,

Sept. have

occurred ám

Nov.. tities. These shares ane Mar generally the market.

pace-May

tents per, ib cit. setters and they tend to interact Spot

ex-duby) upon each other. Thus when

MESSAGERIES MARITIMES

PO Box 53 | Queen's Building - Tel: 2884)-

"CAMBOD

LAOS"

PASS

/FREIGHT-SERVICE:

EVERETT STEAMSHIP CORPORATION 5/A

falling May 21st sailing June 18th

Chinese Department: Telephone Queen's Building, Teles

28293.

31205.

FAST FREIGHT

VICE

PEIHO

BIR HAKELME

May 12th June 25th

Buyers Seller

14309-145501

as follows:

Spot: Close

Hie Low

101 1MY 101 1/32 1.61 1/25

1.01 5/21 1.01 1/20

West, Marke

Dibers Pix:.

11.78-11,782 unchanged United

May/June

July/Aug.

·Wabana; 20-day 90-day G-month

1,01% 101

1.015/3

--1.01 5/32

100%

Unded Press.

(LIMITED PASSENGER ACCOMMODATION). (Accepting "cargo for trinki pomeni

„Kobe/Puzsu- and -Kobe/Okinawa)“;