TRADE and
THE CHINA MAIL, FRIDAY, MAY 27," 1955.
COMMERCE SECTION
MARKET PAUSES FOR ELECTION
Uranium
Guarantees
Power
Stockholm, May 26.
re- power
Sweden's Ladium deposits supply sufficient raw material for covering the country's
of electric we quirements during several thousand years, according to a lecture by Pro- fessor Torsten. Gustafson at conference on future social and
in
the
industrial development University town of Lund.
The Swedish uranium sources are found to a large
re-
extent in shale deposits of low
uranium content but methods
sumption of electric energy
NEW YORK Tory Win Will Be Green Light
STOCK
MARKET
New York, May 26.
A sharp spurt in aircraft stuck at the close of the market. today. It was a ses-. sion of general advance which lifted prices to their early May levels, not too far from the all time highs set on April 26.
The run-up in aircrafts came
Boeing
2%
on official word from the Air Force that it will step up produs- have been devised for extract- tion on some latest model planes ing the important metal chemi- in view of recent Russian air cally, the probssor emphasised. power gairis,
Lookheed He ales recalled that the con-Donc points, in North American, United, Gen Sweden doubles about every eril Dynamics, Gruman, Glen tenth year. A complete harness- Martin, Republic, picked up s ing of the country's lotal water-point or more. power resources would meet the demand for the next 20 years. The world's aggregate deposits of coat and oil will be depleted in about 100 years les re course is had to other sources of energy for most of the power output, he said.
World
Cotton
Markets
New York, May 26.
Cotton futures today drifted aimlessly over narrow limits in the sixth straight session of slow trading. Most traders continued to mark time pending new in
aluminium
Sharing
the spotlight with aircrafts were the shares. Renewed interest in the proposed Bethlehem -Youngs- Tube merger town Sheet and
put Bethlehem up nearly 5
points.
Chemicals continued in de-. mand.
Rails were strong, Illinois
For New Rise
SHARES ALMOST
AT PEAK LEVELS
By A Special Correspondent'. "Blue Chip" utilities are now within a few cents of the peak levels of the year. Only a sudden bout of small-scale, profit- taking stopped them from setting new on the Hongkong Stock Ex- "highs" change this week.
By accident or design, the market pause has come on the eve of the British General Election. The sudden drop in turnover yesterday to $1,170,000 from well over the $2 million mark earlier in the week rather suggested that investors were waiting to hear the result.
Brokers believe that if the Tories are returned
(the margin is really immaterial in Hongkong) Central Was .up 114 and this would almost certainly trigger off new Southern, Rallyvay 14.
Of 1,191 issues traded, 621 were higer, 326 lower.
York Stock bond
volume
The New
change
demand.
Basically the market under-seme comes to the Colony be Ex- tone is .lim (or "healthy" " as cause investment opportunities was one broker deseribuci it). the fare better here and yields are
money position is still easy and higher. there is no selling pressure.
$7,900.000.
The American Stock Exchange volume was 910,000 shares.
Allied Chemicals
Alled Mills Ine Allis Chalmera
American Arilne American Cyanamide Co.
American Metal
American Tel & Tel
centives, either in the crop pie-American Smelting ture of Washington news or the export subsidy question and farm price legislation
Most of the trading was pro- fessional.
With
mills, interests
American "Teh, "B" Anaconda Copper Armco Steck Armour
spot | Baldwin-Ilma-Han and speculators OL Baltimore & Otto both sides. Liverpool brokers
were small sellers of new crup
Benguet Cons
Bethlehem Steel
Beeing Airplane
months. Opened unchanged 10 Merden (The) Co.
of 6 points. In noen hour was unchanged to off 4 points.
Trading volumes and open
interests in the Exchange today
were:
North
July
Det
Dec
Mor
May July
Tetal
Volume
24.700
5,400.
open interest
601,200
SELS,300
17.400
52.500
2.300
300,000
1.200
228.400
1.000
1.100
5,400 2.207,500 bales
NEW YORK
Canadian Pacific R
Case (4, 1) Co.
C. . T. Financial Corp..
Chase Nat, & Man
Chile Copper Chrysler Motors Culfate-Palmolive Co. Commercial Credit Commonwealth Elec. Consolidated Edison Continental Steel Corn Products
Crane Co. ..... Crown. Zellerbach
Cuban Amer, Sugar Curtis Wright ........ Dupont de Nemours
Prices of futures closed today Pasy National Gas
as follows:
Spot
July
OcL
Drc
Mar.
May
July
NEW ORLEANS
Prices of futures closed
as follows:
Spot
July
Oct.
Dec.
Dec.
Mari
LIVERPOOL
34.850
34.00
34.10
34.22
34.07
34.22
General Foods
General Motors
Colette Safety Razur
Gudden Cu......
Goodrich RF
Co.
Goodyear Tire....
Humwake Mining Cu
13.02-03. Int'l Business Machines
Internationů Hærvestér
International Nickel
Intemational Paper
today International Tel. & Tel
$115
361
271 577 324
49
Од
The liquidation in the last few days was mostly selling by market jobbers who had made 50 cents a share here or a dollar a share there. But this can in no way be interpreted as 1827 appearance of basic or under- 70% tying weakness in the market. One broker was quite 14 emphatic: "as long as political 1 conditions
remain as they are.
STOCKS FAVOURED
But in
any case wherever these funds are turned into shares the stocks favoured are ill-edged, like Banks or Unions,
or "Blue Chip" utilities and Lands.
are
CEYLON TEA AUCTION
Colombo, May 26. Abec yesterday's anction,
prevailing opinion among tea tradera today was that despite the Government export subaldy schtunt, wedi on the basis
the price obtained, factory owners wi still find it difficult to pay small holders 20 cents a pound for green leaf tea.
The suction cast the Government
than 1,000,000 rupees, according to oficial estimates, but traders place the cost at more than 2,000,000 rupees since the bulk of the tes fetched pices ranging from 75 ctants to one rupee per ponud, thus qualifying for the maximum export subsidy of 50 cents pound.--United Press.
Singapore
Stock Market
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- Exchange this kong Stock morning amounted to $887,157.50. Noon quotations and the morning's transactions:"
SHARES BUYERS SELLEES" SALES
DANKS
H.K. Bank 4.. 1685 1889 20 1670 East Asia
16 INSURANCES'
Lowland XD 4812
Underwaters
XD SHIPPING
Azza Nav... DOCKS. EC.
K. Wharf... Dock Provident, (01 Wheelocic LAND, ETC. H.K, Hotel 31K Land
Humphreys
17t9. Ready UTILITIES
Tram
430
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards **CORFU”
- "CANTON"
"CARTHAGE"
"CORFU"
Leaves London
Sailed
And Juna
+
#th
July
Due Hongkong..
30th May
with June
21 July
and August
Via Southampton, Port Said, Aden, Bombay, Colomba,
Penang & Singapeto
"Homewarda
"CORFU"
"CANTON"
Leaves Hongkong
3rd June
1st July
"CARTHAGE” "CORFU**
20th July
24th August
Due Londos
5th July
1st August
29th August
27th September
Via Singapore, Penang, Colombo. Bombay, Aden, Port Said à London
"SUNDA"
"SOUDAN"
FREIGHT SERVICE
Joads 27/28th May for S'pore. P. Swetten..
ham, Penang.. Colombe, Aden. Port Said. Genoa,
Marvelles. Havre, Los-
бол.
Antwerp Rotter dam & Hamburg duc 5th June tram UK & Stralia loads 6th June for Mej Kobe. Yoko-
kama
1.
With liberty to call at Belawan before or after Stralis Ports and at Bombay if inducement ofers.
Tanks avaliable for carriage of Oil In Bulk. Space for refrigerated cargo. Limited Passenger. accommodation
1.60
300 g 80c
13
500
734 7.30 1000
17 20 1212
7,30
63 Ga
28
605
2.04 1.10
2.10 4.30
1000
4000
1300
1000
140 Yaumati Femy 116 117
3140
30% Cdc
I tel
C. Light (0) 20 30.20
DC. Light (N) 15.00 15.70 761
3600 500
2334
Fraser
Neave Ltd. Od Fraser & Neave Ltd 75%
5170
Electric
..... 30! Telephone .. 335 337
cum. pret,, Hongkong 21
$0.55
40 200 14
1300 t
500 in 1500 1000
"ORNA"
Shanghai
Banking Corp.
INDUSTRIALS
Cement
"ORDIA"
Hongkong Tia. Ltd. Kempas Lad
isod
2011⁄2 29.00 3050 út 2015 1345
due kane alls 19th June
use Rubber Estates Lud. $195
$1.40
Malayan Breweries
$2.50
New Serantia Rubber Co.
Singapore. May 27. Brokers today quoted the fol- lowing stock prices:
Batu Lintang Rubber Co. Opening
Lod,
British Barco Petroleum
Syndicate ********** Consolidated in Smelters
Otzd
.......
Rafles, Hotel
Singapore Cold Storage
Hrokers pointed out yeslerreta Tum Lid. day that at present most of these categories of shares well-held the majority by big there is little, likelihood of local institutions rather than 131 recession in prices in the future," individual small-holders.
40
65
201
17
43
50
This is a favourable pointer to the underlying the
strength of one the market. This is also
South British Insurance Co. Straits Trading
Straits Steamship United Pharineemes, died. Wenne Brőd
$28:00
$33.60
$11.00
Gina Mall Special
reason why there is unlikely to New York Foreign
be
The tickle of "scare money"! from overseas banks in Colony to the Stock Exchange 484% continues. One cannot be too
be any sudden crash. And the categorical about "scare money" Much is, as the name implies, consensus of opinion in Ice 5411
here for security. Sone, House Street yesterday was that" $4xd sent
been however, is sent here to avoid the market had caly 43% high taxation
other marking time in the last couple rates in
and of days before rising to new 21 parts of Southeast Asia,
heights.
.42
3:
457
World Rubber
Markets
The rubber market was arther on speculative buying rumours and of poor April production good demand for lower grades from United Kingdom and Con- 71% 103tinent,
Johr-Manville Co.
Kantha C. Power & Light"
34.00
Kennecott Copper
34.07
Liggest Meyers Tob. Co.
04%
31.20
Lockheed Aircraft
47Ep
34.24
Loews incorp.
34.25
2112
Louisville Nashville R.
35.24
34.20
3339
National Distillers
New York Central
Siinnenria Mining
National Cash Peg. "A"
Os Elevators
Pacific Gos & Elec.
Prices of futures closed today Bacille Western Oll
in pence
p lb.,
middilag, as follows:
May/June
July/Aug.
Oct/Nov.
Dec/Jon.
Mar/Apr.
Pan American Airways American Paramount Pictures
32.23
Parke Davis Co.... Philips Petroleum (zd. Pittsburth Plate Glas
Radio Corporation,
Reo Motors...
Republic" Stel
SAO PAULO
30.10-12
Future, closings, in cruzeiros
per kilo were as follows:
Socong Vacuum
Standard Ol of Cal
July
October
December
March
May
In
The market was quietly easier in the afternoon. Futures: 93 No. 1 rubber per lb. June 014-931
July. 91-924 Aug. unquoted 404 No. 2 rubber per tb. June 91-91
No. 3
80÷2-80% 06:5-87 53%-04%
-93-100
55
471 No. 4
ས
201 Spot rubber unbated.....
Blanket crepe
43
42
No. 1 pale crepe
734+
Bearish influences will naturally appear again but brokers believe the market will continue to rise "in slops" or there gradual stages. Indeed would be a good deal of appre- hension if 'brices climbed in one unbroken upward sweep. The most likely consequence in that case could be a drastic crash.
LIMELIGHT ON "CHIPS", The limelight this week has been chiefly ca "Blue Chip" utilities, Banks, Cements and Lands.
On balance, market prices are about steady, but they were all higher earlier in the week
The best way of illustrating. how pear shares are to peak levels is ot set out a table of come of the more outstanding Issues:
NEW YORK
Futures closed today 20 to 25 Banks
4 points higher with sales of 153 Unions.
zy contracts.
21.37
30.35-37
unquoted
Shell Oil Co.
Sinclair Cil
Southern Railway (Com.)
Standard Brands
39
7615
Standard Oil of Ind.
4
Standard Oil of NJ.
111
37
34.00
11%
unavated Texas Co.
Stockley-Van Camp. Studebaker-Packard Corp
Union Carbide Union Facile Railway
the United States, the United Gas, Imo
- average price of 15/16 mäddling U.S." Gypsum
at 10 designated spot markets VS. Line Co.
U.S. Rubber
was 33.97 cents, Sales at these US. Smelting "centres totalled 7,172 bales US. Steel
United Fress,
New York Sugar Market
Warner Bros.' Westinghou Electrie West Va. Pulp & Paper Woolworth
Trans
Lands
Terminal market firmness re- Ehts flected higher London
Exchange
New York, May 26
21.01-11/18
2.7924 2.78%
Canada England-official
30-day futuras..
rate of The free market
the Japanese yen to the US dollar as quoted by Pleks Word Currency Report: 400-United Press
Star Ferry
Коре STORES, ETC.
Darry..
28
20.70 21.10 500 20.80 Wataon.. 13.20 13:40
1. Exawford 26.70 COTTONS
Textiles
MISCELL
Yongdsze Allied
5.65
6.35 8.45
4.80 4.00 1000 @ 4,85
London Foreign Exchange
New York Montreal Amsterdam Brussels Copenhagen
Lisboa
Paris
West Merks Zurich
Others
Press
London, May 20,
2.7512-2.70-5/10
2.7424-2.74%
10.623-10.62% 130.92%-130.9715 10.4012-15.407% 80.90-82.00 9704-979
11.7834-11.7536 12.245-122402 were unchanged.--United
West Germany's
Balance
Still Favourable
Frankfurt, May 26.
West Germany's overall payments balance remained favourable last year, but the foreign trade position had developed less favourably in the early months of this year, the Bank Deutscher Laender reported in its annual report released here. Last year, the foreign trade surplus had offset the deficit arising out of higher capital 11.00 exports than imports.
Year's
May 14. May 28 high
1670 2200
W
22.10
1620
*123
있습니다
09
73.
22.20 22
19.90., 19.70
Youmetia
*ila
116
191
40
3914
334
2315
2016 3815
*20,30 29.50 48
20.00 20.80
cables Electrics and Continental buying here Tphones against sales to Russia London and Amsterdam markets, fall prices in dollara, ex all price Switching Sept./July contracts
pound. Futures:
July
Sept.
Dec.
Mar.
May
July
on the Cements
FRETS......
31.00
31.73
*1.40
31.00
31.00
30.00
25
BRITISH INDIA S.N. CO., LTD.
"FULTALA”
"SANTHA”
das 8th June from Japan SAUS Bth June for Singapore, "Hangaon
& Chittagong dae 10th June. from Calcutta, Rangoon
e Straita
salis 11th June" for Japan
P. & Q./B...I.. JOINT SERVICE
"OLINDA"
due 6th June from Karachi & Bombay.
etc. sub ih June for Japan dus 14th June from Japan ass 15th June
for Singapore, Karachi, Barrah, Khorramshahr di Kerwalt
from Japan
for Singapore, Madesa, Cochin, Bombay
•Karachi
|--EASTERN & AUSTRALIAN 5.5. CO., LTD.
"ARAFURA”
"ARAFURA”
La Port
From Australia tox Japan sails 28th May due 21st June from Japan
sails dörd June „dez, Sandalean, Brisbane,
Sydney & Melbourne
43
All vessels have liberty to call at any parts on ar off the route & the route & malling 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
EVERETT
LINES
ORIENT LINE
Fast Regular Freight Befrigerator Passenger Service Loading for Singapore, Penang, Bangoon, Calcutta and
"REDEVERETT”
"NOREVERETT”"
"LENEVERETT"
"DRAN EVERETT"
Chittagong.
Arr. June
2
Salis June
3
-June 21
June 28
- July
11
-- July 12
-July
23
Jaly 24
Loading for Kobe, Osaka, Nagoya, Tokohama.
"NOREVERETT""
*TRADEVERETT"
the
"LENÉVERENI
"REBÉVERETT”·
The rise in capital exports last year was chiefly due to increased payments under London Debts Agreement, to the removal of foreign currency restrictions and to the release of blocked mark accounts.
92% at
15 points was another feature. Allowance has to be made in Dealer buying on a moderate the case of those marked "ex scale in the spot market found all". A quick calculation shows sellers reserved. Spot No. 1 Rss that on a cum all hazis, Banks Transfers abroad of blockade to West German coal mining and
cents were quoted at 31%
a today would be $2138, Unions, marks and liberalised capital steel firms.
$1044 Yaumatis, $179. Cements,marks had risen from virtually $48.25. and Farme, $27.70.
The Bank said that slight in- In all in 1953 to about 573 million creases last year left prices the case of the other shares not marks last year. Direct foreign below their Korea board levels, marked "ex all, all have bad currency transfers abroad under But the Bank, together with the dividends deducted since the the London Debts Agreement, Government, continued to watch beginning of the Year.
including payments in freely and carefully the development of limited TRUE STRENGTH
D-mark prices and convertible
would use all ïts accounts, amounted to .637 means to prevent steeper This then gives sume indica-million marks last year against advances. tion of the true strength of the 283 millions in 1953.
At present, market at the moment,
ever, intervention was necessary.
ONE MAIN REASON
One of the main reasons for
expansion
LONDON STOCK
LONDON.
MARKET
The market was very steady, New York, May 20
No. 1 spot Res were quoted at World No. 4 sugar futures
27 7/8 pence per ib. Prices: closed unchanged to 1 point
London, May 28." lower with sales of 58 contracts. Pre-election optimism con-
tinued in a way on the London No. 1 Rss epot................. Domestic No. G. sugar futures Stock Exchange today but there closed unchanged to 1 point was some cautious profit-taking lower with sales, of 50, contraeis.to temper the rise.
Buying in industrials seemed Both markets continued quiet concentrated on leading issues
once attract a and generally steady in company known of American
to
certain interest with the raw market. Futures: er hit a new peak as the Contract No. 4 (world)
3.35pany announced, a huge Estate, crepe June thick
pansion programme here and in
July
Sept
March
Sept.
Bowater
3223 the United States.
azo under come"
Spot-(centa, per lb.. fob Cuba), 33 Contract No. 's July
held
-dipped-ed
-Imperial-Cising
Bridsh Government bonds with trading routine. steady with 5.70 Foreign Issues
were inactive, 4,80 especially the Japanese. German Der Dawes and Young Loans both ́added 8.50 gained £1 and Potash
United Press.
Spot-(centa
5.50
Elsewhere, Wharvcs appear to
August
Settlement hotsa term:
July September July/September van
27%-28%
279-2721
be coming back into
demand
October/December
Jormungy/March
Apri/Ima General market, elt basis, ports:
JI
274
August
AMSTERDAM
MORE EXTENSIVE.
Arr. May 31 Sale June 1 --June 24
-June: 15
June 20 -- June 27 July 25 -- July 23 LIMITED PASSENGER ACCOMMODATION. All the above subject to alteration without notice.
EVERETT STAR LINE
FAST REGULARB FREIGHT REFRIGERATOR BERVICE Landing for Slagapore, Port' Swettenham, Madras, Colombo, Bombay, Karachi & Persian Gulf Port.
"STAR ALCYONE" "LAD*
Arr. June 14
how- not
“STAR NETELGEUSET *STAN ARCTURUS" *TKA"
-
-
Bails June 15- July 13. -July-14 July 315 - Aug. Aug. 1
Aug.
Sept. 3 - Sept. $
Loading for Kobo, Oraka, Nagoya, Yokohama.
Arr. June 12:
Salls June 13:
of
"STAR BETELGEUS6" : "STAR ARCTURUS”
THAI "STAE ALCYONE"
2
July 3
July 20
Aug. Aug, 20
Repayment of other West and buyers have puched prices German obligations, particularly from $69, to $72. Wheelocks the standstil debts was also the continuing looked like climbing out of the more extensive than expected production and sales last year -277% doldrums this week but after the Bank said,
was the considerable rice in rising to $7.35, they slipped back The
amount growing
of domestic investment, again to the old familiar price foreign currency needed by West
Gross investments to $74.
made in German firmos for investment West Germany last year were Allieds, which passed their abroad represented a new burden estimated at 30,600 million dividend last week sold at $285 on the West German capital marks about 2,900 tons Earlier in the week balance. Investments abroad more than in 1953, yesterday. they soil at $4775. Their net worth about 400 million marka
Private investmento, especial had been muthorised, up to the ly, leercased to a surprising was therefore only 10 cents,
extent. from $134, to $150 and brokers
Capital Imports
The Bank reported a net pro belleve these shares,
lice 330 million marks last year. it of $3123,603, marks against 204 buyer Yaumatis, will find a higher against 183 millions in 1953, 117,000,000, the decline result 265 buyers level in the next few weeks..
They included 135. million marka ing mainly from lower interest, 280 buyer% 230 buyers
The rubber section has Been granted by the European Coal fees and commissions, -- China quiet and steady...
and Steel Fool's High Authority Man Special,
The market was Orm. Prices closed in guilders per kilogram, CEF June as follows:
No. 1 rubber- No, 2 rubber rubber
Star Ferries bave improved end of last year cunted to
LIMITED, FASSENGER ACCOMMODATION, All the above subject to alteration without notice,
EVERETT STEAMSHIP CORPORATION SĨA (Incorporated in the Republic of Panamá -
...with Zimited Elahůdky), dis Chinese Department: Telephone 28293. Queen's Building, Telephone 31206.
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