THE CHINA MAIL, FRIDAY, MAY 20, 1955.
TRADE and COMMERCE SECTION
Australian Bid For British Chilled
NEW YORK Beef Market
STOCK
MARKET
New York, May 19. Stocks carried their re- covery through the second) Session today without falter- ing.
The rise added nearly another $1,000,000,000 to mafkit valua tions and spark ca 370,000- share increase in tumovér-le
2,380,000 shares from 2,010,000 yesterday..
The gains today were achieved without benellt of. new market incentive although many and issues
helped Were individual favourable Péms.
lay
300 TONS A WEEK
-1
PROGRAMME
PLANNED
Brisbane, May 19.
Australia is making a bid to get back on Britain's chilled beef market-in competition with Argentina, Ireland, New Zealand and local production,
The Queensland Meat Industry Board hopes, within five months, to handle 1,600 head of cattle a week for the British trade. This represents 300 tons a week..
Aircraft issues, which touched off the buying yesterday." con tinuce in
in demond. Electronic ises, metal, chemicals, and oils alk-had
The Chairman of the Meat to nominate "a ship for the eins and industrial! stocks as a group averaged $1.80 Industry Board, Mr T. G. Hope. Beard's trial shipment, so far no points higher.
said that at Brisbane Abattoirs. verset is in a position as a result controlled by the Board pre-of the London dock strike,
followed by a hold-up on Rails picked up 0.33 in aver parations are being made for a
the age and utilities ingraved 0.32. trial shipment of about 100 tons Australian waterfront. This has for Amon
the aircrafts, gains of chilled beef, which it ex-made April lean month ranged to 2 prints in General Pected to be ready to treat Dynamics while Douglas, United April or carly May.
RAILS PICK' GP
and Lockheet added 1 points
for more.
in frozen tonnage.
Elled beef.
Before World War II. Beard.sen: two shipments Stromberg Carlson, to merge
...chilled beef a week to Britain.
All the indications with
Generf Dynamics. rose
Mr that the with the electronics. I added Hope said.
British 201
preference of But although ship-100 ping companies have been asked extensive work.
the
FIVE MONTHS
#
are,
has
48.
points shile. Zenith red public
Steels were firm. Motors befd
a very narrow tange.
Oll gains ranged to 25%, points
ir. Pacific Western. J
The New York Stock Exchange World
bone volume wae $4,040.000,
The American Stock Exchange volunile was 700,000 shares.
Dow-Jones
were:
30 Industriais
20 INS
18 Uulities
6 teks
44 bund
eloring averages
415.72 156.72
14732
World Cotton
Markets
New York, May 19. 61.77 Narrow fluctuations today 59.72 accompanied a slow trade in
cotton futures,
Comum future price index 13345
YESTERDAY'S
Akten The. Ary
Alled Chemient
PRICES
$2224
Allied Mills Inc.
Alus Chalmers
73
American Airline
201
American Cyanamide. Cu.
Amertean Metal
160
American Smelting
American Te & Tel
American Tob. "D"
Anaennda Copper
Armico Steel
APTOUT
Baldwin-Liena-Ham.
Ballbane & Ohio
Bendix Aviation Cutp.
It will take Ave, months, Mr Hope explained to make the necessary preparations for handling the proposed 300 tons a work. The trial shipment of tons does not entail such
When is vailable. the
the necessary shipping Brisbane slaughter houses will be able to handle 300 tens regularly. according IC
Hope. Ar
A maximum perica of up to 60 days is provided for from the time of loading at Brisbane until the discharge of the cargo in Britain..
Burmah Oil Co.
Dividend
London, May 19.
Company
Burmah
Ltd announced a free scrip Logue of shares, one new for every one naw held, and a final dividend of 131⁄2 per cent making 21 per cent for the year compared with 171⁄2 per cent · previously. Group
profit after All charges including taxes is 3,728,869 compared with £3,252,324 previously. -- United Press.
TODAY'S SHARE PRICES
(From Our Correspondent)
kong
HONGKONG STOCK EXCHANGE
'Blue Chips'
Approaching
Peak Levels
By A Special Correspondent
For the fourth consecutive week, share prices rose on the Hongkong Stock Exchange and yester. day leading "Blue Chip" Utilities were approaching peak levels of the year."
The boom began at the end of last month when the international situation both in Europe and the Far East took a distinct turn for the better.
It gathered momentum when | The heavy selling of these shares Business done on the Hong-millions of dollars of "scare in the past fortnight at $107 has Stock Exchange this money" began pouring into ended and yesterday they moved morning amounted to $1,191. Hongkong tram Salgon and other up
to $110. Brokers expect 346.10. Noon
quotations and parts ci. Indo-Chin. A small them to settle down at about the moming's transactions: amount was quickly turned into $130 which would be about six SHARES BUYERS SELLERS SALES
and filt-edged
"Blue Chip" or seven dollars above the first DANKS
UK Bank
shares on the local market. ex-all price earlier this year. ... 1675 180
5 1670
Signs of eastness appeared on 1670
China Lights have actually the market on Wednesday but passed this year's peak level. yesterday buyers quickly re- They touched $19.30 earlier in 2016 appeared and prices, closed un the week and yesterday they sold
hote
at $19.20. the Furthermore was firm and a number of brokers I spoke
to yesterday were confident that prices would go higher next week.
One broker spid: "It scems investors are prepared to sccept lower yields And as long as sam 1280 political
conditions remain re- latively stable there is a good 17.40 incentive to 6712
East Asia
INSURANCES
111675
10 1096 20. 16573
firm
34 1975
301880
214
12 1913
Union XALL 920 97'2 Lambani
XD
DOCKS, ETC. K. Wharf Provident 10) 12. LAND, ETC. HK Hotel HK Lard Humphrey's
RTS Realty
UTILITIES
Tram
69
1990 / 0.90
12.90
undertone
Electrics at $394 (last Thurs- day $38%) are well on the way to reaching this year's top price of $10 Telephones are up 50 cents to $324 but they still have" a long **way to go before reaching their peak of the year. The rise in share prices to peak levels is less important as an indicator of market activity, or even as a barometer of feeling NOTE
of the of
investor
public in
the Another broker, said: "I think Colony but it must be under- 2000 2.05 there is a distinctly bullish note stood in the context of the over-
in the
which augurs all economic scene in Hongkong. well for the coming week." Therein lies its real significance.
Although there are virtually CEMENTS RECOVERY 19.30 no remittances entering the In the
industrial 19.40
17.30 175 1300 ... 67? 60 2500
53%
....21.80 134
Star Ferry..
J00 5.70
2015006 2
Y mati Ferry 112 114 300 wi C. Light (0) 19.30 19.40 500 1680G
BULLIS**
market
I.
section,
Light (N) 15.30 13.40 560 15.33 Colony hom Southeast Asia at Cements staged complete re
the moment,
hear the money covery after having absorted the Telenhome. 12 27 30603213 position
in Hongkong is fluid selling pressure which began and there is
is apparently plenty last Thursday and for Investment,
early into, this week.
Electric 39 39!
INDUSTRIALS
Cement covering, prompted partly by technical
Spot" month
frozen beef.
The Board proposes to con- fine its chilled beef shipments to London and Liverpoci.
"Commenting on Mr Hope's an- July contracts, under pressure |nouncement, meat exporters here for several days, showed relative said that chilled beef commands firmness in an otherwise feature a higher premium on the British less market.
market, and preserves its tex- ture and appearance better than Since a iced-up trial shipment 47 reasons and unexpectedly small Britain last was
de to sales nut of the Government
last year, five commer- cial shipments of chilled beef supplemented shipper Giải Stock
left Brisbane for British have 2413 buying against export sales of ports. Freight rates were higher around 15,000 bales to for chilled beef, but the pick-up In price at the other end com- pensated for them, according to exporters.
45 DAYS TO UK
the Moreton Preezing Works. situated on the Brisbane
1827
Reports
GENEROUS RAINS
ol. KENTOUS over wide sections of the south-
rains
west acted as a drag en rallying
From
tatar Kendenzits in the new erop River, the ships usually average
45 days for the trip to Britain.
In 1933-39 Australia shipped
Eastern and central belt crop experts exdicated generally good 20,000 tons of chilled beef. progres during the past two!
..... 29.20.
15.30
2G
1400 29.30 1650 29.40
.
500 28.2014...
a
where
сел
much
earnings
continued
These
Rupe
My own opinion is that, while shares now stand at $29.20 and STORES. ETC
there
may be further rises next
show a net Dairy
net gain of 50 cents on 2014 2013 2010-060 week, share prices are reaching the week. Some Watson ... 13.10 13.40
brokers fcel level L. Crawford
shares small-scale these
are not likely COTTONS
Liquidation
be expected to go
higher but Textile Cory
soon, particularly as the interim if MISCELLANEOUS
continue at re- dividends due in the next two cord levels I wouldn't be sur Yangtz Allied
months are likely to be- preced-prised to see them climb back to ed by 3 further period of the $40 mark. buoyance. It is hard to that the boom will conti unchecked
5.30 33% 3000 v5.55
8.30 6.42 4.524.97140609.33
World Rubber
Markets
Singapore. May 19:
15
40
Yugoslavia
512
Benguet Cons.
Bethlehem Sterl
Boring Airplane
65
Borden (The) Ce.
Th
Burroughe
280
Canadian Pacific. R.
Case 13. 11 Co.
14 months.
C. I. T. Financial Corp.
20
Chryster Motory
Colgate-Palmolive
Co.
5334
Commercial Credit
201
Camunanwealth Eler.
Continental Oil of Del,
FELL
Continental Steel
31
Corn Products
30
spot firm
2 weeks, cording to the semi-
monthly
mainly
from Queensland
Crane Co.
432
Crown Zellerbach
70% fran 10 days to
"However, some areas
were
ack to that level in levels. Future closings were getting back
New 1955 are practically nil.
No. 1 rubber per ib. June 01-914 Zealand in 1938-39 shipped
July 30-90%
Cuban Amer. Sugar
Auz. unquoted
Curtis Wight
211
Dupont de Nemours
18992
Eastman Kodak
.
El Pass National Cas
47!2
General Betrie
General Foods
38-88 8512-80 02-02% 81-82 97%-90%
General Motors
Gte Safety Razor
Goodrich (BF) Co.
Tire
Goodyear Ifomstake Mining Co. Inland Steel Co.,
Interchemical Corp. Int'l Business Machines International Harveste International Nickel International Paper
right Through
In the stores section,
Dairy Farma and Watsons have gained until slightly.
August unless there is, In the The cotton section has been meantime, a significant improve-dull and inactive. ment
w Crop letter of a leading exporters say that the chances o! but moderately steady "at lower: America
in the Far Eastern situation. In the ribber section, with IMPORTANT FEATURES no change in Singapore raw rub-. Nebody expects a miraculous ber prices, shares have kept but The rubber market was quiet settlement between China and steady on the local market.
AMOY CANNING There
have ten some in- quiries recently about Amoy Canning shares and the Stock
ing statement:
At the close July. rujed 12/20,000 tons of chilled beef, and No. 2 rubber per . June 89ference on a Formosa ceasefire. Exchange has issued the follow-
New Orleans
95% points.
3094
304%
13%
were: Morth
two weeks late.
deliveries-entered the field ahead Australia when
immediately; indeed, be alish to expect it
would that. But the next logical step in the present situation is a con-
points bigher other
ota. 3
That is what the market will be there was were off 3 to 5 points. Opening
а No. 4
waiting for.
On June 8, 195-1, the Com- prices were up 2 to off 5 points. Swing-over to chilled meat last 3pt rubber unbated
Blanket crepr Lycar
There were a number of im- pany applied for their shares to closed up 3 to 9
No. 1 pale crepe
portant features this week on the be officially listed, but as the Mr Len McLellan, executive
NEW YORK member of the United Graziers
Stock Exchange, among them Board of Directors
was em- Trading volumes and open in Association of Queensland, says points higher with saler of 129 smaller rise, the continued ad- fully paid up shares, the applica- Futures today closed 5 to 15. Banks 300 leap to 51875, Unions powered to decline transfer of crests in the Exchange today
that the chilled beef trade must contracts,
vance in Utilities (and particui-tion was refused. Volume Open interest résult in Queensland graziers Wall Street commission house arly Yaurati's advance) and "Upon an undertaking by the concentrating on improving the buying brought a smart rally finally, the recovery in Cements. Board that the power to decline quality of their stock.
after
the market got off to a
It will be noticed that this registration of fully paid up So far, the bulk of the cattle
shaky start
Dealers supplied week Land shares, which
have treated
shares would not be exercised for the chilled trade most of the contracts. have been obtained from, coastul The spot situation was rer been prominent as market pace- and that the articles of associa
out of setters, have dropped.
tion would be amended at the 90,000 5,000 baies, areas and throughout the whole ported all and thin" with picture and the main shares in annual general meeting, the corner the No. 1 Rss quoted at 31% cents a this group were quiet and steady. shares were provisionally listed. State.
pound. Futures: Good
The only.
WDs "At the annual general meet- exception July quality, well finished,
Humphreys which has risen 60ing of the September cattle, young and mature
company held 01 December
cents on buying demand.
March 30, 1955, the motion to March 34.07-08 over fat, were described as the
The reason for the big rise in amend the article governing May 33.25-26 most suitable for chilling.
Banks is, I understand, a short- transfer of shares was defeated, July These factors arc being
LONDON
age of scrip both on the local and the company were advised stressed to producers in a long- range view of the export trade.
The market was quiet. Prices as well as the London markets. that their shares would be closed today in pence per lb. as At the time of writing the omitted --China Mail Special.
from the official list follows:
Reuter's London price was £9211⁄2 until such time as the Company No. 1 spot Res
but actually they were selling conformed to our rules of Settlement house term:
yesterday at over £96. 21%-274WORTH WATCHING
NEW YORK- Prices of futures closed, today
34,85
43
414
May July
.T7
$2,000
24,500 651,400
October
12.000
475,000
9711 March
December
15,300
505,000
3,400
270,000
John-Manville Co.
International Tel. &
Tel.
Kansas C. Power & Ligh
Kennecott Copper
K
14gr. Meyera, Tob. Co.
6412 July 7015 105% 6611
31ay
Total
2,000
226.100
4.800
120,500
Lockheed Aircraft
4422
Locws Incorp.
..Louisville &. Nashville R.
Lone Star Cement Co.
as follows:
Spot
July
Montgomery
Co.
Oct.
National Distillers
National Cash Reg. A
Dec.
41%%
104%
Mar.
May
National Lead
National Steel Corp.
4727
July
New York Central
404
Otis Elevators
#37%
Pacific Gas & Elec
472
Pacific Wester Oll
41%
as follows:
Pan American Airways
100%
Spot
July
Paramount Picture
Parko Davis Co.
431
Oct
Dec.
Mar.
May
Minnesota Mining
Monsanto Chemical
Phillys Petroleum
J. C. Co.
Pittsburgh Plate Glass
Radio Corporation
Reo Motor
Republic Steel
Shell Oil Co
Sinclair Oil
Socony Vaceuma
Southern Railway. (Com.)
NEW ORLEANS
34.21
34.34 34.34 33.57
Prices of futures closed today
LIVERPOOL
34.00
34.04
34.23
34.27
34.38
34.30
July
Future closings, American
south-eastern
of
not
LONDON STOCK
MARKET
London, May 19.
31.45
3125
30,50
30.20
*0.00T
29,301
July/Sept.
June July
37-27%
25%-2614 Oct/Dec.
Z3-20 Jan./Mar.
25-2524 General markets, cif basis, portai May
2812-267 2015-201 2333-2833
Once again the hopes of a Estate crepe thick June.. 2015
53 Midaling in pence per 15. were big Conservative victory at
as follows:
May/June
Standard Branda
July/August
Standard Oll of Cal
October/November
Standard i af ind
4372
Standard Oil of NJ.
112%
December/January
March/Apri
Stockley-Vin Camp.
1736
SAO PAULO
Studebaker Packard Corp.
Swift & Co.
Texas Co.....
Union Carbide
Union Pacine Railway
United Aircraft
US. Gypsum
US. Line Co.
1.5: Rubber
S.Smelting.
UA. Steel...
Warner Bros. Westinghouse Electric
West Vn. Pulp
Woolworth
Pape
30.51 30.37 30.25
Markets were closed today
91 holiday
105
015 In the United States, the average price of 16/16 middling cotton at ten designated spot markets was -93.93 cents. Sales at these markets totalled 13,514 123bales-United Press.
--United Freas.
Exchange Rates
R:.
IMPORT DUTIES ON SCRAP
Washington, May 19
Business was done, in the loent The House passed by voice
unofficial exchange
market
morning at the following rates
US. dollar (per $1) 90
Sterling notes (per il
Indonesian rupiah
Siam ticals (per 100) Singapore (Straits) "Jado-Czling plastres
(per
Esis vote today and sent to
the polls later this month was the key factor in bol- stering the stock market,
Prices ran up quite sharply in }, some instances as buyers came
back into the market today with renewed vigour.
thin
-United Press.
the
group as a
Usting."
pretty dead but New York Sugar
Market
Exchange the outcome of all the formalities closed 2 points higher to 1 point
The Wheelocker whole remains
continuze to hear encouraging news about. Wheelock Marder and I think they may show a remarkable change before the
New York, May 19, end of the year. Realties is also
World No. 4 sugar futures 10- one worth watching closely.
that Wheelocks day closed unchanged to 2 points I understand
with sales
of 140 London Foreign hope to have the Gas Company higher
shares on the marker within the contracts.
Domestic No 6 sugar futures next six months depending on
lower with sales of 51 contracts. company has to go
the
World futures recovered after shares are Ice House Strect has early easiness on trade buying already started a guessing a softer tone to the raw market. and short covering in face of the "What will the shares sell for,"
New York
Montreal this Brussels
Copenhagen Party
It was the widest gain and broadest market
So far broades month.
chip industrials generally stockholm added around a shilling. Ford, West Marks Electrical Industries, Bowater, Zurich Imperial Chemical and Wool Pre were worth were upside leaders;
Others
that the
-2.75-7/16 11sted*** Delore
London
by 10. 2.79-0116-2.70-7/16 2.75-0/1 139.0 1940-19409
97034-97972
1451-14.5114. 11.75-13.75
but there is no point in quoting A small and mixed trade passed what are purely bypothetical between dealers in the domestic 3223°/-12.23% « unchanged.—Unhed figures. Last week Mr Marden contract. Futures:
told me it was premature. at this
Contract. No. 4 (world)" singe to consider a price but I July.
for a Tory victory is New York Foreign shan try to get a more realistic March
Market experts say the out-
Looks
for
stimulating the market because,
one thing, it eliminates, the
Exchange
threat of further nationalisation threat stated bluntly in the Labour Party's pre-election
extremely Spot close
the manifesto
Senate Bill to continue for
Oil stocks were
15.20 another year to June 30, 1956 strong, paced by Burmah Oil, i
100) 13.00 muspension of import duties on
21.80 | metal, scrap except for zing and lead scrap-United Press;
Canadian, dollar site!
૫.
BAKITZE
New York MAY 19,
Seller 1.017/18 1.0235- 1017/1871,0X31⁄2" 1.017/10 101 161 7/16 1.01 33/04 1017/18. 20133/64. ∙1.01-7/10 2013 SH/BE)
--United Prem,
Zow
籍
rose more than two shillings on Future: 30-day
good. - carnings report and
90-day
E-month.
dividend bike. United Press.
figure
from the company later Kay In the Dock section, most July
have been quietly inactive. Sept,
Essti
China Providenis however, diave
Contract No. 6
Spot (ce risan 30 cents to $12.70.
July In the Utility group, Trams Sept closed steady on the week NOV. though they were once as high | March os $22.209 USE
· Spots (rents, perfuit pff; NY Yaumatiss I pm reliably exodus formed, appear due for a rise
P
-United - Presi
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S,N. CO.
PASSENGER/FREIGHT SERVICE
-Outwards "CORFU" "CANTON" "CARTHAGE" *CORFIT
Leaves London Das Hongkong
Saited
30th May
35th May
7th June
2nd June
25 July
20th July
2nd August
Via Southampton, Port Said,. Aden, 'Bombay, Colombo..
Panang Singapore
Homewards
-- "CORFU”
"CANTON"
"CARTHAGE"
"CORFU"
Leaves Hongkong Dos London
3rd June
1st July
32) July
30th August
י,
5th July
lat August
29th August
27th September
Via Singapore. Penang. Colombo, Bombay, Aden,
"SUNDA”
Port Sald & London
FREIGHT SERVICE
loads 25/28th May for S'pore. P. Swetten- ham, Penang, Colombo,
Aden, Fort Sald. Genoa, Marselles, Havre, Lon don, Antwerp. Rotter- cam & Hamburg
"SOUDAN”” duc 3rd June from UK & Stralis
lords 4th June for Moji, Kobe, Yoko-
hama
With liberty to call at Delawan before de after Straika Ports and at Bombay if inducement offers.
Tanks available for carriage of Oll in Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
8th June
fram Japan
due mails 9th whe
"FULTALA”
"SANTHIA"
dite 10th Junio
for Singapore,. Rangoon & Chittagong
from Caletta, Rangoon & Straits
sala 11th Jurie for Japan
.P. & O./B. 1. JOINT SERVICE "OZARDA" due 3 pm 20th May from Japan
walls 21st May for Singapore," Madras, Karachi, Basrah, Khor- ramshahr & Kuwali
frum Karschl & Bombay
"OLINDA"
due
"ORDIA"
"ORNA"
Th June
sails 8th June for Japan dur a. June from Japan' Falls th June for Sbgapore, Madras, Columbo, Cochin, Rưm- bay & Karnchi due 19th Jnue from Japan sails 17th June for Singapore, Colombu. Karachi, Basrah, Khor- ramshahr & Kuwait
EASTERN & AUSTRALIAN S.S, CO., LTD.
“ARAFURA”
"ARAFURA”
das 24th May from Australia 52ils 25th May for Japon due 31st June" from Japan sails 23rd June for Sandakan, Brisbane,
Sydney & Melbourne
All vessels have liberty to call at any ports an 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
非
J
EVERETT
LINES
ORIENT LINE
Fast Regular Freight Refrigerator Pauenger Bervice
Leading for Singapore, Penang, Rangoon, Calentia and
"REBEVERETT"
"NOREVERET"
"BRADEVÈRETT"
Chittagong.
Art. June
1 Balls June --- June 25
-- June 20 12 -- July 11
- July -- July 22
-July
Loading for Kobe, Osaka, Nagoya, Yokohama.
"LENEVERETT
"NOREVERETT”
"BRADEVERETT"
*LENEVERETT
"REBEVEREIT"
ارار
Arr. May 29 Sails May 20 -June 14
Jure June 28 July 4
June 25. July 23 LIMITED PASSENGER ACCOMMODATION.
All the above subject to alteration without notice.
EVERETT
STAR LINE
FAST REGULAR FREICHT ZEFRIGERATOR SERVICE Loading for Singapore, Port Sweltenhamn, Madras, Colombo, Bombay, Karachi & Perilan Gut PvcL *THAI
"STAR ALCYONE"
*STAR BETELGEUSE" *STAR ARCTURUS"
Arr. May 23
June 14
July
海
Sails May 24
-June 19
July10 "July 24
-July 23 Ang, 20
Aug. 21 Leading for Kobe, Osaka, Nagoya, Yokohama.
"STAK BETELGEUSE” “STÄR ARCTURUS” #THAI"
Arr, June В Sails June 9. -June 24
-July 24' -- Aug. 1
“STAR ALCYONE" "
- June
July 23. --Aug
Aug. 29
Aug. 28 LIMITED 'PASSENGER ACCOMMODATION.
All the above subject to alteration without noties.
EVERETT STEAMSHIP CORPORATION SƐA (Incorporated in the Repubile of Panama
with limited-Libiltyy s Chinese Department: Telephone 28293, Queen's Building, Telephono 31206.
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