1955-06-10 — Page 9

/ THE CHINA MAIL,

FRIDAY, JUNE 10, 1955.

and COMMERCE

TRADE and

US BUSINESSMEN OUT IN BRAZIL

European And Jap

Interests Making Comeback

New York, June 9.

European and Japanese interests are making a strong comeback in Brazil, a high Brazilian official declared here.

US businessmen on the other hand are losing ground at a quickening tempo, according to Senor Mario Da Camara, retiring head of the Brazilian Treasury delegation in New York.

4

Senor da Camara was a speaker at a luncheon given in his honour by the directors of the American Brazilian Associa-

Canadian Dollar on

Bonds

Ottawa, June 9. The Finance Minister, Mr. Walter Harris,

nounced

today

an-

that

$700,000,000" band issue opened yesterday was already heavily over-

subscribed.

Books on the Issue were closed.

.Proceeds

of the new

issue will be applied to the redemption of $600,000,000 24 per cent bonds issued March 3. 1933 and Novem- ber 1, 1933 which mature July 1

EX The new issue consists

of two per cent bonds maturing May 1, 1958- United Press.

World Cotton

Markets

New York, June 9. Narrow prices changes accom- panied an extra slow trade in cutton future today.

At the close the list ruled 6 lower to 11 points higher, Opening prices were off to up points. New Orleans, closed off to up 11 points.

Traders generally continued to mirk time pending a clarifica-

1

He told of the proposed billion dollar investment in Brazil by French and German interests

and

also reportedly an eleven- man civilian team arrived last week in Japan to review indus- trial and commercial with that country.

relations

the

de-

FAR FROM CRITICAL

"Far from being critical of these developments," Brazilian Anancial officer clared, "we Brazilians welcome such moves on the part of those who wish to share in our future economic growth,

He suggested that "the at- titude of European countries in their dealings with Brazil could well be studied by American businessmen. He described this as "simply the attitude that the customer must be served and helped in time of difficulty in order to maintain his goodwill and business."

"While we recognise that there are many American firms following

a similar policy in azil. I their

Brazil. dealings with can' help but confess that

+

TODAY'S

SHARE PRICES

LOSE

NEW YORK

STOCK

MARKET

New York, June 9... Rumours that margins would be boosted again, un- settled the stock market to day with prices falling 1 to 2 points.

All departments took part in the sell-off which got underway in the last hour of dealings

Prior to the break, the industrial average set a new all-time high.

RUMOUR'S

SECTION

HONGKONG STOCK EXCHANGE

PROFIT-TAKING HITS

SHARE

MARKET

By A Special Correspondent

Light-scale profit-taking cut back the week's gains in many shares on the Hongkong Stock Exchange yesterday afternoon. On the week the market closed steady.

Brokers had been expecting liquidation for some days. They believe the share market will find a level early next week and that new rises will follow.

the steadiness of Star and Yaumati Ferries while other Utilities Auctuated:

⚫ the continued strength of

Union Insurance;

a

a marked rise in Wheelock . 'Marden shares alter long dormant period;

the sudden,

ir spurt Wharves following the announcement of the

They stressed the understone pletion of the "sale of the com- Some of today's break could remains steady and there is no pany's property at Lai Chi Kok. be attributed to the rails which evidence of a major break in Strictly speaking the distri didn't confirm the rise

rise in the

the the present boom which hasbution is not a dividend and Chart read-carried share prices almost industrial average.

to the company will possibly make ers hold that the two averages | the peak levels established this clear in due course. I hear most

high-ground earlier this year..

in Ice House Street" that the simultaneously to confirm a for- This week there were several sale notted the company much

features: ward movement,

less than they had expected to Volume

$$ distribution was not heavy as

does receive, but the

make yesterday. However, the report-

amends for the dividend they passed ing tickers ran late twice today.

carlier in the year. As the arinsunce- At the opening, they were be-.

ment indicated. the company hind for about ten minutes

will also be liquidating its when the market was moving

overdraft and providing for other Near higher.

the" close.

the

essential

commitments out of ran

late tickers

cne minute

the proceeds which will help to with prices moving downward.

stabilise their financial position. But it is impossible to specu late on whether the company will pay a dividend next year. in-Much will depend on

frade per shareholder can look forward to during the year. Certainly the

healthier financial posi- much

and the in tion

cffects last

of year's staff cuts should be more fully reflected in this year's un upward movement in accounts. The shares rose $511⁄2 rubber shares.

to $79% during the week. Last Thursday. It will be re- Hotels dropped back from called.

the share market was $17.30

to $18.60 on unfounded ** shares (and general market average declined still advancing but

understand untrue! 18801.19 to 160,89. The break in the prices went higher the pace of rumours that the syndicate was This having difficulty meeting its in- the advance slackened. rails was the widest since May trend continued until Wednes stalments to the company. How 16.

day when

the market showed ever, the shares at 317.30 were The recent favourite metal signs of levelling off. Yesterday far too high to attract investors

of the morning. Utilities began to drift and they may be expected shares bore the brunt

down and in the afternoon call fall even lower in the next selling. Kaiser Aluminium Was Blue Chips"

were marked week or so. down 2 pointe

to $36; Alcoa down quiet sharply. at $142. of 14 points. High-

Utilities were again the most priced Reynolds metal dropped active group of the week. 34 points to $2024.

Elsewhere, losses

to more than ol ranging paint. US Steel led its group

(From Our Correspondent)

Business done on the Hengkong Stock Exchange this morning!

Noon mounted to $512,780.20.

ard the morning's quotations quotations:

Rumours in Wall Street cir- culated widely that the Federal Reserve would raise margins (0. 90 per cent. Some quarters СУСП

speculated the Federal would enforce a cash markët.

As measured by the averages, industrial shares closed with a icss of 1.89 to 435.07; rails were of 2,15 to 159,00 and the utilities The SHARES BUYERS SELLERS SALES slipped 42 cents to 84,00,

BANKS

HK Bank. 1870 3015 East Asia

LYSURANCES

Union Lombard

...

SHIPPING

Waterboat Aata Navi

DOCKS, ETC.

K. Wharf

9413

SU 52

e75

14 $1

500 10.90 500 # 30

26.20

100

...

Dock

Provident

(O)..

13.30

wish more American business- Wheelock men would be as far-sighted in

their attitudes as some of their LAND, ETC. foreign competitors." -United; Press

World Rubber

Markets

Singapore, June 9.

tion of overhanging uncertain- The rubber market fluctuated ties dealing mostly with

pro-around the present levels with posed farm legislation on price fair demand for lower grades. supports and production control Future closings were:

01

July

No. 1 zubber per 1b.

June

Aug.

June

June

Juic

Flanket crepe No. 1 pale crepe

regulations.

The

best

part of a small trade was given over to evening-up in the nearby July delivery before No. rubber per lb. first notice day on June 21. The open position in July at the start No. 1 rubber per in.

trading today totalled 496,200 No. rubber per. ib. bales.

The gradual decline in the Spot rubber unbuled certificated stock attracted more comment. Cotton available for delivery now totals 67,400 bales, of 11.464 bafes from the peak of 78,972 bales on May 18.

Experts cited three possible theories for the decline: 1. Ex- piralion of certificates; 2. Cotton taken up on May contracts by mills may be spun into

NEW YORK ·

5.40

300 / 25.30

oil shares

had

tended 54 distribution share:

a rather sharp decline Hotels:

STRAWS IN THE WIND

The steadiness of Stars

+}

and

are

a

to

In other sections of the market, Cements are 20 cents down on the week to. $29.80. Dairy Farms

but are steady Watsons and Lane Crawfords are both Bttle better.

Rubber shares have made ap- 714 45000 7.10 downward with a loss of 1 Yaumatis at a time when most

preciable gains as a result of points to $475%.

easing the steady rise in the price of A certain significance. Singapore rubber. Sellers Although there is nothing off-were offering $2.05 for Amalga- 22cial to indicate what

yesterday ern-mateds

(last week

IK Hotel .. 103; 16.70 4500 HK. Land ... 512 69 100 Humphreys

Ris B Realty

UTILITES

Tram

Star Ferry Ymali Ferry

C. Light (0)

2.12

12.50 27.00

147

161%

a

CLOSING PRICES

Alden Inc. Acy.

Allied Chemicals Alled Mills Inc.

143 119 100 m 119

20 20.20 5239

500

C. Light (N) 13.70

16

Electric

301% 3077 Telephone... 33 33

Allis Chalmers

American Airline American Cyanamide Co. American Metal

20.10 American Smeiting 20.19 American Tal & Tel 58 15.80 Anaconda Copper 1000 16.80 Armco Stee:

500 15.80 64381

500 63344

500 in

500 g 301%

INDUSTRIALS

Cement .... 29.40 29.30

STORES, ETC.

0935-9012

Dalry Watson

'unquoted

20 2031

1. Crawford 21.80

24.40

500

904-97"

COTTONS

Textiles 9314-93

·MISCELLANEOUS

Yangisze 0014-9042 992-100! Allied B6 B7 103-104

$.70 5.80-

G.40 6351

Armour

Baldwin-Lima-Ham. Baltimore & Onio

Bendix Aviation Corp. Benguet Cons

Bethlehem Steel

Boeing Airplane Borden (The) Co. Burroughs

Canadian Pacific R. 605 / 21.30 Case J. 1.) Co.

C.I.T. Financial Corp. 27.20 Chase Nat. Mem. Chile Copper Chrysler Motors Colgate-Palmolive Co. Commercial Credit Commonwealth Mec. Consolidated Edison Continental Steel Com Products Стале Co..... Crown Zellerboen Cuban Amer. Segar

Futures closed today 30 to 65 LONDON STOCK Wright

points higher with sales of 245 contracts

Wall Street commission house buying plus local covering and

a trade demand kept prices on

yarn an upgrade. Strength at London

3. Withdrawals being made are

པ

Month

MARKET

London, June 9.

Diamond Alkali

Dupont de Nemours Eastman Kodak General Electric General Foods General Motors

Gillette Safety Razor

Stocks moved" ahead smartly | Güidden Co. .....

and concern over social unrest on the London Stock Exchange

Spot

Goodrich (B. F Co. Goodyear Tire. Heyde Chentical

of a type suitable to all export at Singapore, with reports of in early trading today but gains engagements to Korea and other a threatened strike of harbour were pared sharply ne the Homatake Mining Co. countries.

workers, demitates the market, close by heavy profit-taking Inland Steel Co Trading volumes and open

dealers

some instances

ces early gains Int'l Business Machines reported

Int'l Harvester interests in the Exchange were.

awakening Zaxlory interest in were wiped out completely and

International Nickel the outside market where

International Paper er-replaced by small losses.

Ini Tel & Tel timated sales ran between 400 The early wave of buying re-

John-Manville Co. ock 500 tons. Most of the bus Wall Street and hopes for

flected

the strength of stocks in Kansas C. Power & Light ness passed on No. sheets for September sales developed at early settlement of the crippling 33/4

to 33% cents, but later railroad strikke,

Jaly....

October

Volume Open interest

24,100 B,K)

December 17.300

March

May

3,300 7,600

July,

9,200

October Total

400,200 494,600 511,900 233,000

1,000 150,100

anketa

an Kennecott Copper

derett Meyers Tob. Co.

Lockheed Aircraft Loews Incorp, 75,700 2,272 900 bales, dropped to 334 cents a pound. Market experts said the heavy Lone Star Cement Co.

No. 1 spot Rss were quoted realising which hit stocks late Monsanto Chemical Co.

Montgomery Wart

NEW YORK

Prices of futures closed today

as follows:

Spot

July

Oct.

Dec.

Mar.

May

July

Oct.

NEW ORLEANS

at 33% cents a pound. Futures; in the day was not unexpected National Cath Beg. "A?'

in view of yesterday's sharp National Lead rise.

34.50 33,00 23.43

31.30

Prices closed today in pence per lb. as follows

... 31-35%

July

Sept.

34.70

33.85-86 34.01 34.00-07 34.37

Dec. Mar. May

LONDON

31.90

The market was firm.

No. 1 spot

Settlement house ferma

July

September

July/September

23.80

October/December

33.83

January/March

34,02

April/Jimenahan

34.06

34.11

June

31.07

*July

August

Patate are:

Prices of futures closed today

as follows:

Spot

July

Oct.

Dec.

Mar.

May

July

Oct.

* SÃO PAULO

The market was closed today

due to a holiday. In the United

August

Copper stocks were a feature,

They met demand most of the day and sported a number of good gains at the close British Government

New York Central

Clin Mathiesen

Otis Bevators

Pacific Gas & Elec. Pacific Western Oll

Pan American Airways Parke Davis Co. bords Penn. Salt Co. were firm, with popular issues Penny J. C. Co.

Old Philips Petroleum such

"War as

Loan" Consols and Dalton" up £1⁄4%.

Tokyo Electric ran up £2 to 299 feature an otherwise quiet and regularly higher foreign bond market.-Unlied Press.

304-303

General markets, cit basis, por

thick June and July .. thin

-2014

-Unijed. PreM.

the average price Exchange Rates

16/11-nch middling Wolför at

States

ten

designated markets .was Business was done in the local

not available. Sales at nire of unofficial

these markets totalled 9,507 bales,

New York Foreign

Exchange

Canada England, oficial:

Procter & Gamble Co. Pittsburgh Plate Glass Radio Corporation Reo Motors Republic Steel

Shell Oil Co..

other

has

Utilities

Govern-

111 ment's attitude might be to they sold at $1.825).

wards the cross-harbour tunnel Trusts sold yesterday

25%

while

at $2.70

scheme, the public detect some against buyers $2.425 last week.

straws in the wind; one was the

55

first reading of the bill authoris-

50.

183

ing The construction of new

piers at Tsim Sha Tsui, Ma Tau New York Sugar

Rok and Stewart Road, Wan- chai.

Feeling

in Ice House Street is that although plans for these piers were compiled long before the

tunnel

scheme wes revived, Government would hardly pro- da, ceed with legislation f is had agreed to or accepted a new

method of cross-harbour trans- 331portation for the Colony,

This is the basic recsun .for the current strength of the two This week

SIK Herry companies/

49 317

Stars were

were selling at $148. (up $2 on the week) while Yaumatis

before

slipping

2 touched $120

back

43

to

Market

New York, June 9, World

futures No. 4 sugar sales of 89 contracts. closed 1 to 6 points lower with

Domestic

6. sugar futures closed unchanged to 3 points can- lower with sales of 11 tracts.

World futures felt the impact of July liquidation and

the. lower trend of the raw market. A lower raw macket also affected the domestic contract.

Futures:

a steady price of $119. Banks toucfred $1,700. this 16 week but although London, re- 414 gisters kept firm at 2922, 1995 shares. on the local market

alipped back to $1,880. Unions, July an the other hand, have gained Sept

31

6337

106 steadily from $927% buyers last Det 714 Thursday to $940 buyers yester-

40

day. 品

1615

March

May

July

Sept.

Contract No. 4 (world) -

Wheelock Marden's made 2 Spot-(cents per lb. fob Cuba) 41k welcome upward move this

16

week rising from $7.30-a price

40 at which they have been selling

Aug.

60% for many weeks to $7.80 July Trading was particularly heavy, Sept

112

的话

Carnover on one day ester/you.

303

113

to about 40,000 shares.

day they slipped down to $7.65 May 6415 under

but pressure

selling

203 brokers are confident the shares will find a new level around the $84% level.

55K

$83%

425

WHARVES. PAYMENT

There is no specific reason for their rise this week but regular readers of this column will re-

2014- call that I've been backing

Wheelocks for

44

48%

some time.

know their Anancial position

Contract No. 6

3.25

March

Spot (cents per b. cit

IT ex-duty)

United Prose,

5.63

London Foreign

Exchange

New York

Montreal-

15% very sound at the moment and Amsterdam

I think the broker's assessment BrusOČE

19% that I've quoted will be fully Comentugen

Lisbon borne out.

43

15%

4434

Sinclair Cu

Socony Vacuum

58%

Paris Wharves announced this week Stockholm

West Mark a distribution of $4 a share

Zurich payable in August

upon com-

Southern Railway (Com.) Standard Braadis

Standard Oil of Cal. Standard Os of Ind. Standard Ol 01. NJ, Btockley Vary Camp. Studebaker-Packard [AW]£!!! & Co.

Texts, Co.

New York, Jurus 3. Valon Carbide

1101-17/03 Union Paciile Railway-

United Aircraft 30-day...DADA WE484/4/AZ BU 9. Gypsum 90-day future 218752. 8. Line Co. South Africa

(2.1941 WS. Rubber Belgium

0199 UB, Smelting 18.30 The tree market rate of the US. Stee 15.65 Japanese yen to the US dollar, Wamer Bros.

Wastirithouse as quoted by Picks World Cur-

Wem: Va. Pup 413United Woolworth 135 rency Report: Singapore (Straits) (216) Indo-China" plastres (per 100) //110 | Press, 2

exchange market this morning at lie following rates:

U.S. dollar Iper: 31)

Sterling noted (per 21)

were Press,

The Liverpool cotton

unavailable

prices

Indonesian rupiah (per 100)

Unlied

Siam tiesla (per 100).

12.50 21.60

London, June

MESSAGERIES MARITIMES

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

FAST PASSENGER/FREIGHT SERVICE-

“LAOS”

VIETNAM”

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Outwards "CANTON"

"CARTHAGE"

*CORFU"

"CANTON"

Leaves London Due Bongkang

salied

22nd June

Sth July.

17th August

th June..

2314 July

2nd August.

19th September

Via Southampton, Fort Said, Aden, Bombay, Colombo,

Handwarda

"CANTON" "CARTHAGE" "CORFU" "CANTON"

Penang & Singapote

Leaves Hongkong

lat July.

29th July

20th August.

༔

Dus/Londos

1st August

th August

17th September

3rd September 24th October

Via Singapore, Penang, Colombo, Bombay, Aden, Port Said & London

"SOMALI"

"SOUDAN"

FREIGHT SERVICE

due 20th June from it & Straits leads 27th June tor Moll, Köbe

Yokohama

loads 1/2nd July for, S'pore. P. Swetten- hain, Penang, Aden. Parl Said. Genoa. Marseilles. Havre. Len

don, Antway, Rotter- dam & Hamburg

With liberty to call at Belawan before or after straita Parts and at Bombay II inducement offers":

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

BRITISH INDIA S.N. CO., LTD.

dne 10th June from Calcutta, Rangoon

& Straits

"SANTHIA"

· SANTHIA"

P. &

"ORDIA"

Mar Titi Tre

due st July

sals 2nd July

for Japan

from Japan.

for Singapore, Penang. Rangoon & Calcutta

O./B. I. JOINT SERVICE

dur 14th June from Japan. sally 15th June

"ORNA"

die 10th June sals 17th June

"OBRA"

dur 27th June

for Singapore. Madras, Cochin, Bombay Karachi

from Japan

اعله

fat. Singapore. Karachi, Basrah, Khorramshahr & Kuwalt

frum Karachi & Bombay etc.

*aus 28th June' for Japan

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

"NELLORE"

"ARAFURA”

dus 14th June from Australia walla 15th June for Japan due 21st June from Japan satis 23rd June for Sandakan, Brisbane,

Sydney & Melbourne

All vessels have liberty to call si any ports 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.

EVERETT

LINES

EVERETT ORIENT LINE

Fast Regular Freight Refrigerator Passenger Service

Loading for singapore;"Penang, Bangoon, Calcutta and

“NOREVERETT

"DRADEVERETT""

"LENEVERETT"

"REDEVERETT”.

chittagong.

Arr. June 27

Sails June 28

July 15

July 20 Asg. 20

-- July 16 *7 **** July

Aug. 21

Loading for Kobe, Osake, Nagoya, Yokohama.

"BRADEVERETT""

*LENEVERETT""

*REBEVERETT "NDRIVERETT"

Art. June 18 Sails June "19 -- June 29 - June 39 -July 24 July 25 19 --Sug -- Aug. 18 LIMITED PASSENGER ACCOMMODATION. All the above subject to alterativa without notice.

EVERETT STAR LINE

FAST REGULAR FREIGHT REFRIGERATOR SERVICE Loading for Bingapore, Port swettenham, Madras, Colombo, Borhay, Karachi & Persian Gulf Port..

*STAR ALCYONE"

"ZAO". "BTAR BETELGRUBE" “STALL ARCTURUS”... "THAI"

*LAO

-AT. June 14 -July 18

A. Aug. Allg. 22.

Sails June 15

July

- ALL -----Bing,23

- Sept. 9 -- Sept. 10

Landing for Kobe, Osaka, Nazors, Tokohama.

#STAR BETELGEUSE”.

"STAR ARCTERUS" "THAI"

Art.

June 17

Sails June 18

-- July 10

July 11

- JEY 28

July 29.

- Aug 13

-

Aug. 14

Balling June 26th sailing July 9th

"STAR ALCYONE".

-- Aug. 31 ↑ G. Bepl

LIMITED PASSENGER ACCOMMODATION.“

All the above subject to alterniion without noties.

EVERETT STEAMSHIP CORPORATION SIA (Incorporated in the Republic of Panama

with Limited Liability) and

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

salling, June 19th sailing July 17th

FAST REIGHT SERVICE

“BIR HAKER

"MEKONG