1955-06-24 — Page 9

TRADE and

THE CHINA MAIL, FRIDAY, JUNE 24,

1955.

COMMERCE

SECTION

NEW YORK RHODESIAN DEVELOPMENT

STOCK

MARKET

New York. June 23.

Strength in

Du Pont-

bluest of the blue chips 'sustained the stock market average today despite latel profit-taking which pared most prices after a six-

session rise,

Du Pln: soated 1034 points

at its high, touching new 10p

at $219, and hold all bu!

points of the gain.

two

This rise and a gain of more then a point in General Motors www: which Du Port is a big industrial more than a point on average the to another all-time peak, seventh in a row.

stockholder-lined

POOR NEWS

Dhappoint dividend news nearly hurt several issue. Bald- win-Lima Hamilton. carly 3 points co payment and

Oppenheimer Founds New

Corporation

Salisbury, June 23.

Sir Ernest Oppenheimer, Chairman of the Anglo-American Corporation of South Africa Ltd, Limited, and of Rhodesian Anglo-American announced in a statement that these companies had registered in Rhodesia a new company to be called Anglo-American Rhodesian Development Corpora- tion Limited.

Private Tanker

HONGKONG STOCK EXCHANGE

Strike Settled Share Prices

New York, June 23. The strike which has affected 193 private American - flag

Kanker

sonr Hro Enited States East and Gulf coasty was now nearly settled, accord- ing

well-informed

sources.

It was learned that-13 companies operating 167 vesels have how come to terms with the National Maritime Union.

This followed the news that the Slachif Refining last night be. Company came the first major ail company to sign an agree- Union which, the meat sald, embodied the sam "basic" terms, including a form of guaranteed wage as those agreed by overð,“ tors of passenger, and dry

The new company will act as a finance slumped

cargo ships. a reduced organisation to help promote economic develop-

of

A Rhodesia and American-Hai- ment of the Federation waiian steamship plummeted 4 c Nyasaland. It will have an authorised capital of £2,000,000, of which £500,000 will initially be issued to founder companies.

dividend emissioni.

Rayonier continued to respend

to its stock split proposal, is

almost 3 points, and Kimberly

Sir Ernest said that because Clark see a point following the of the rapid rate of expansion proposal to merge with Inter-of the Federation, especially in natiocal Cellu-Cotten,

relation to the small European considerable long- Among the leading groups population,

would be needed price movement generally was term anance

for projects which will have to be undertaken over the next few

Larrow.

In stects, Bethlehem and US Stect each cased.

Chrysler was unchanged in the motors:

There were a few strong spoti in oils. Standard of California, Jersey Standard and Union Oil of California added point.

around a

CLOSING PRICES

Alden Inc. Acy.

Allied Mills Inc.

All Chalmers ---

American Airline

American Cyamide Co.

Am. Mach. & F dry.

American Melal

American Saching

Am. Sugar Fot. ... American Tel & Tel American Tob. "B" Alubunda Copper Arco Steel

years.

World Cotton

Markets

New York, June 33.

In view of their large

In-

terests in the Federation, Anglo-American and associated companies had considered how finding they could assist this finance.

Rhodesian Anglo - American had already lent Rhodesin Rail- was £1,000,000.

The statement said companies in the group which had funds for investment, particularly the

Norther mines

Rhodesia which were joying a

period prosperity, would money available"

now ea-

of unusual make

to the deve-

lopment. corporation,

The corporation

would

in

Texas" company spokesman said that his company had now come to terms with the Maritime

Union - China Mail Special.

TODAY'S SHARE PRICES

(From Our Correspondent)

Are Rising

Again

By A Special Correspondent

The Hongkong Stock Exchange shook off the hesitancy and indecision which marked trading last week and share prices resumed their advance towards peak levels of the year.

a

Average turnover this week (about $2 million a day) was 80 per cent higher than last week. The

due to increased activity, I learn, was resumption of inward remittances from Southeast Asia which came in "In fairly decent quantities" according to one informant.

A

close look at the market. Hotels Have firmed up this shows however that while there week and the market has ob- assured that the is now a Arm undertone, the viously been bulk of the rises have been only $3.3 million instalment due to the fractional and the shares which Hotel from the Central Develop- show the most marked improvement Company (formerly known ments on the week have been as Local Enterprise) at the end full affected by special circumstances and on time. There is also news.

of this month will be paid in Thus, Wheelocks, Hotels. Lands, Cements and Lane Craw that the new Hotel plans call for building as against fords owe their good rises less a 16-storey

blueprint. bullish to general

influences 12 in the original

in building be- than to favourable developments is hoped to begin

the end of this year. these concerning

companies fore the

This week the shares rose from specifically.

$16.70

buyers to $17.10. this Perhaps the most important

Crawfords rose on the *Lane announcement of the week was

company's the themade by Hongkong Land strength of

The has been increased Ltd yesterday when the directors buy Jardines four-storey build tax. They are now at $31, which is about $4 above their best of Pedder on the corner ing

price of the year. Street and Des Voeux Road for $6 million. To finance the pur- chase Jardine, Matheson are on good company news,

to take up 100,000 new Hongkong recovered from "Tast

shares at a premium of hesitancy and closed firm at their making a total of $60 a best level of the week-$31.

Elsewhere on

Business done on the Hong- kong Stock Exchange morning amounted to $890,817.30. Noon. quotations and

tum lend the money at cur- morning's transactions:

the

Investment and Agency Company and announcement.

Prices softened today after a rent rates of interest for car SHARES BUYERS SELLERS SALES sinted that the company woult from $3 less tax to $3 free of i

mixed start with the nearby ing out projects of which

31 July contract leading the down

523%

turn.

na

July closed net 20 points 12% lower

while other deliveries companies would not be called INSURANCES

on for any fresh capital the new Ananed"ecrporation.

ཧཱ། ། were oft-3 to up & points. The

499

market opened up

Traders remained

preoccu

no adjustments

before first notice day for the

spot month tomorrow.

12

No. approved. business would be and

BANKS

HK Bank

1700

shareholders in

founder

Union

for

900 Lombard.... "Underwriters 9.30

SHIPPING

Walerbout

The new corporation also raise money

overseas

would

for

DOCKS. ETC.

$35. share.

K Wharf

Dock

26.30

Provident

(ON)

OVERSEAS USES

44

5' la of

14k point.

Baldwin-Lima-llam.

Baltimore & Ohio

Bendix Aviation Corp.

64

Benguet Co

1

pied, making

Bethlekers Steel

141

Boring Almane

6011

Borden (The Co.

Burroughe Add Machine

13

Canduan Paoße H.

Case J. 1. Co.

17

C.I.T. Financial Corp.

40

Cat. Tractor

Chase Manhat. Bank.

60

Chrysler Mönny

1:1

5612 July contracts, the recent in-general economic

Celanese Carp

Colgate-Palmolive Co. Commercial Credit

Comunionwealth Elec.

Convalidated! Edison

Continental Steel

Com Products Crane

Crown Zellebach

Cuben Amer. Sugar

Curus Wright

Diamond Alkall

International Nickel

development purposes. Crop news, textile market

The statement said that by assistance in this way developments, anticipated export rendering buying against pending Foreign copper mining companies would themselves since Operations Administration allet- also be helping morts to France, Italy, Pakistan the well-being of the industry by and other countries, were lest would be directly affected sight of for the time being- any lagring behind

43% depedently firm spot, met in of the

4827

263ased Liquidation while traders Special.

2 pendered over

the probable

44 amount of delivery notices.

Ideas differed on the subject.

0414

16

21

Somc quarters thought there

5811

211

81

ANG

41 would be "Tew, if any," initial

tenders. Others expected fairly large" deliveries.

Trading vicares and open in- terests in the Exchange today 231 were:

547%

Volume Open interesi

74,500 120,100

20,900

490,000

25.300 620,300

5,000 57,300

760

Dow Chemicals

Dupont de Nemours

Eastman Kodak

Eric Railroad..

Family Finance Corp.

General Electric

General Foods

General Motors

Gen. Pub. Util.

Month

#6%%%

Gillette Safety Razor

July

Gleden Co.

Out.

Goodach (B.F.) Co.

Dec.

Goodyear Tyre

Mor

Hayden Chemical

July

6.600

19,700 251,600 184,200

Hamrake Maing Co.

Ingersoll-Rand

Oct. Dec.

Inland Strel Co.

Total

Zat? Business Machines

Hart Harvester

3

International Paper

as follows:

Int'l Tel, Be Tol

John-Manville Co.

B

Kansas C. Power & Light

10%

Kennecall, Cooper

1154

Liggett Mevers Tab.

Loews Incorp.

Lone Star Cemm. Ca.

Louisville & Nashville R.

Lowenstein & Sens"

as follows!

Spot

July

5634

40

4336

May

July

812

Lockheed Aircraft

Mesabi Iron. Comp. Minnesin Mining Mission Developement: Monsanto Chemical Co.

Ward

torola Inc. ...... National Cach. Reg. "A" National Day Prod. National Distillers

National Lead

National Steel Comp New York Central "Olin Mathieson Os Elevators

Owen-filings Glass Pack Gas & Elec. Pacific Western Oli

Pan' American Airways

Paramount Pictures

Parke Davis Co.

Penny J. C. Co.

af the development country, China Mail

World Rubber

Markets

Singapore, June 23. After a steady opening the rubber market regged but closed steadier on late United Kingdom and Continent orders. Future closings were:

Prices of futures closed today No. 2 Hibber per ib. July 10416-105

Spot July October December March

May

No. 3 rubber per 1b. July 99-094 No. 4 rubber per lb. July 97-07 Spot rubber unhaled 11039-110% Blanket crepa

No. I pale krope

July

October

Land

NEW ISSUE, TOO. The Land company also an nounced a new issue of 200,000 Wheelock 9.20 8.25 2000 to 8.25

3000820 shares to be issued in the pro- of one for every five pection held at $25 each.

Persistent and.. accurate about the new issue

LAND, ETC.

Hotel 17.10 17.20 HK Land

71 .. 70%

Humphrey.. 110

Rts. .. 0.40

Resity UTILITIES

Tram

Star Fer

7142 rumours

CEMENTS DO WELL Cements continue to do well They week's

the market: Banks are up $25 to $1700 while Unions have advanced alrnost $20 on the week to $965. Hong- 70 cents bester kang Docks are

a sale earlier in the week at $26.20.

Humphreys and Both Realties appear

to be a little better and the reports are that 100 7015 sent the Land shares up from real estate rates are rising again.

56944

In the Utility section all issues early in the week to * but

Dairy Fractionally better. 550 22 415 peak of $73% yesterday, 499 7 64 hey closed at $72 after about

The rubber market has been 12,000 shares changed hands.

Wheelocks showed a marked slightly more active during the 23-30 23110002330 improvement this week and rose week largely due to yesterday's $7.70 to $8.25. About Amalgamateds changed hands at 42068 23.20 30,000 shares changed hands

on between $2.025 and $2.05. Raw have e

rubber rates in Singapore are up Strails cents a lb.

2.10 2:1211

Y'mati

Ferry 119

:

C. Light (0) 20,60

C. Light (N) 18.30

Electric... 40

Elec.

1500 23.30 from

300 10 21.30,000 sha

SCG in 23.40 yesterday. There

230 2330 several rumours influencing

are

Farms

are steady.

business when

250 450 shares during the week which I from 10454 SIRI KU 119 shall deal with in due course,

Jeg v 110 but perhaps the most significant.

300 PA

CVLT

100.000

to 1094 cents a 1b this week.

429 disclosure is that there has been New York Sugar

100 p,2011⁄2

1000 60 20.00 a return of confidence in these 1700 20.50 shares among many big Chinese

11 10.10 investors

1500 of 16.33

11 Macao Telephone .. 334 344 4300 @-337%

This

Market

Sugar

1

or

is important for pro-

New York, June 23. 41 1800 00 4016

World No. 4

futures 50040viding the shore is given a tree

rein to move according to supply closed today 6 points higher to

'demand Wheelock and

Mardens

1 point lower with sales. could become extremely specta contracta

For many cular this year.

B Domestic No. bugor months now the share has been closed unchanged to 2 points kept below a very modest ceiling lower with sales of 12 contracts.

4,700

130.000 2.100,400 bales NEW YORK -

No. 1 rubber per Ib.

July

30074-700

August

September.

105-10614 unquoted

INDUSTRIALS

Coment

9234-1314 11214-1134

.... 3134 24 108 1:32

1500 330

200

NEW YORK

Rope STORES, ETC.

Dalry

15.20

Futures today closed 35 to 60 points lower with sales of 234 contracts..

Nanyang MISCELL

NEOUS

Most of the business was intra-dealer switching

Allied

in

орста

NEW ORLEANS

34.730

34.1

34.15-18

340

34.17

34.24

33,00

33.01

'Prices of futures closed today

October December

March

October December"

34.05

33.05 34.15-16 Lions, with one block of 50 lots

of March-December done 34.20

2427

24.69 24.11

LIVERPOOL Closings, American middling

In pence per lb. were as follows:

July/Aug.

70 points. Other swaps included

Dec-Sept, and Dec-July,

The spot market

was easier

21.30 240 250 21.

13.80 14.20 304 @ 13.80

30%

level. The share has now been allowed to rise but it is difficult to forecast how high. It will go.

UP TO $9 NOW?

Covering in, the July world delivery offset the lower raw. mariset. Dealings in the domestic contract were too пастом по develop a defrite feature,

A few weeks ago, you may retraders acid. Futures

in Contract No. 4 world) 4.90 4.975 1000 & 400 member, a broker predicted

that Wheelocks July ... this colum would soon rise to $8.25. It has. September The same broker told me yester-Ober

March

LONDON STOCK day he expected it to and a level May

rumours.

September

MARKET

of 50 soon. Perhaps..

July

up

Spot cents per ib, lob Cuba) I mentioned there had been Contract No. 6.

about August.... some market London, June 23. Wheelocks this week: one, that Septeraber Persistent weakness in loan repayments from Japan are November

March. to date and the other that

the

May

ships which

Insofar

of its was lost in the

with sales estimated around 500 tous up to late afternoon. Re ported sales included Sept. sheets at 344 cents; Sept. threes at 33% cents;

June fives at 31% sterling exchange brought company has received a large Spacers per tz, dis by ex-

at 33% the price in London stocks sun in insurance for one cents and Aug fours

later to a halt today. cents, with buyers ideas

40%

45

Oct/Nov.

31.05 30.30

20..

Dec/Jan.

30,49

4235

Mar/Apr.

30.21

May/June

30.00

Penn. Salt "Co.

Philip Morris

Philips Petroleum

Procter & Gamble

Pittsburgh Plate Glass

813-

Pantiker Industries

1035

Pure Oil..........

402%

SAO PAULO Future closings in cruzeiros Tper kilo were as follows:

July Oct. Dec.

Mar.

20.20

July

Sept.

32,00

Dea.

34.00

35.33

Radio Corporation

Reo Motors ****

Republie Steel Reynolds Metal Shell Oil Co.

Saint Reg. Paper

Sindair Oli

Socoay Vacuum

South Porto Rico Surar

Southern National Gas

Southern Railway (Com.)

Standard Brands

Standard Oil of Cal

Stokely-Van Camp.

Swift & Co.

43.10

In the United States, the 433 average price of 15/16 middling colton at ten designated markets Sales today was 34.05 cents. at these markets totalled 5,613 bales, United Press,

314%

13

Standard Oil of Ind.

Standard Oil of NJ.

281

Studebaker-Packard Corp.

109

"Texas Co.

Tide Water Asan, Of

Twenty Century Fox Film

Union Carbide conser

-100%

Union Pacific Railway

10015

274

United': Aircraft

US. Gypsum

UB, Rubber

TS. Sted.AR

Westinghouse Electric

US Lhe Co..

US-amelting.

"Warner Bro

West Vay Fulp

London Foreign Exchange

30

New York"

Montree). Amsterdam Brussels Copenhagen' Lisbon Oslo

Landon, June 2

2.78-9/16-2,7886"

2.742.70

10.65-10.841

pared down to 33% cents. The market got a taste of Indian as the loan repayments

Spot No 1 Rss were quoted at heavy selling-much of it attri- 35% cents: nominal Futures:

buted to American interests are concerned. It would be prob- as the spot for sterling in terms ably true to say that the com of the United States dollars pany is satisfied with the pori-

tion. 34.00 dropped to a level just above the ith the general world im-

15.15

28,00

34.40

LONDON The market was quiet No. 1 Spot Rss were quoted at 345% pence per 1b, Prices:

Settlement House terms

·Aug. Sep

Oct/Dec.

323-3275 312-3114

Jan/Mar..... Apr./Juneau General márkéta, elf busy

July

Ask

Estate crops..

thick July

thin

AMSTERDAM

litnit

| change: conifted under ex-

*སྒྲ

duty)

United Press.

New York Foreign

Exchange

New York, June 23,

$1.01-11/10 2.78-21/32 2.76-3/18-

Canada England-official

-30-day futures. 200-day futuras

Canadian dollar rate:

shipping provement in

and freight rates Wheelocks is prob

bly getting promps remittances

most certain. from Japan-In fact, that is al-New Zealand

AHEAD OF TIME

Spot

close

low

Associated Issues such as Electric, Borax deferred and Gucet Keens fell 3a or incre, Courtaulds dropped more than shilling all in the space of a

% 31.01-21/32 half hour or 59 remained

10 01-21/21 Also, if présent conditions con- g The

undertone

********* 1.01 1.01-21/2 streng, nevertheless, and prices tinue for the next two or three All futures: 301% 2.01-43/64 The free market rufe of thei recovered substantially in most years it a distinct possibility

the close. Most that some of the Joan money will Japanese yen to the US. dollar, cases before

the be

paid ahead of time as quoted by Picks World Cur were off only day

only fractionally on

As for the "big insurance pay, rency Report: 405 United: Government bonds met ment rumour, I learn reliably Press. heavy ziling, giving up 25/18 that it is untrue 10 £7/16. the lows

+.

and closing around Incidental benest Vangisze Exchange Rates

Tocks

big

179.65-239.8714 The market was easier. Prices Gold Boures and actes en

kanser pofficial exchange market, 215

19.382-79.38'2 -30,40-60.4032

20.00%-20.01¿1⁄2 9761-8784

of futures closed today in guild-specialties managed to

ers per kilogram, cit, July as against the general frend but $0.55 this follows:" M

Parts

·FOA Stockholm:

7 No. 1′′ rubberies

.4555.

West Marks Zurich

Others were unek

No, a rubber

Ax-nom.“

No. 3 rubber 011: 2.0”“”“tom","

nged.

United

3.10 nom

No. 1 crig0.

thetrains were of little con

Dorel in dollar bonds showed strength, articularly

German -United Press.

offering "Buslimer was"" done, rin the "Incal

¡morning at the following rates: were asking $6.40 last Thursday, Apliar per ye huge the shares will probably Sterling notes per 100

Indonesian rupiah (per 100YEA level up in the neat for a 100 two. Their dividend is due next

Singapore (Stratta), pozdn month, by the way.

Itzio-Cidna, Biasizes (per- 2001

Page

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. Co.

PASSENGER/FREIGHT SERVICE

Outward

Leaves London CANTON" Nailed “CARTHAGE". 2nd. Jaud "CORFT"

*0th July

"CANTON" 17th, August

Dre Hongkong *7th June

24th July

mand August

19th Septem

Via Bonthampton, Port Said, Aden, Bombay, Colombo, Penang à Singapore

Flomewards

"CANTON"

Leaves Hongkong ~ Doe London

1st July

"CARTHAGE” 29th July "CORFU"

."CANTON"

26t

August

23rd September

ist. August

29th August

27th September

24th October

Via Singapore, Penang, Colombs, Bombay, Adia, Fort Balde London

"SOUDAN"

"SOMALI"

FREIGHT SERVICE

loads 1/2nd July for S'pore. P. Swetter-

ham. Penang,

Aden, Port Said. Ganos. Marselles. Havre, Lon- don. Antwerp, Rotter◄ dam Hamburg

due And July from UK & Straits Kobe Vloads 3rd Nily for Moji

Yokohama

With liberty to call at Belawan before or after Straits Porta and at Bombay if inducement offers. Tanks available for carriage of Oil in Bulk. Space for refrigerated cargo. Limited Passenger accommodation

BRITISH INDIA S.N. CO., LTD.

"STRDITANA” due 1st July

"SANTHIA"

sas 2nd July

from Calcutta,

& Straits

For Japan due 1st July

from Japan sails And July for Singapore. Penang.

Rangoon & Calcutta

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

"OBRA"

"OLINDA”

"due 30th June from Karachi & Bombay

ctc.

säils 1st July fur Japan due 11 July from Japan sails 12th July

for Singapore. Madras, Colombo, Karachi, Bas- TRA, Khorshahr & Kuwait

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

'"ARAFURA"

La Port

from Japan Tails 24th June for Sandakan, Bubbmw,'

Sydney & Melbourne

.

"NELLORE".

que Ethuly salls th July

from Japan

*

"EASTERN"

for Sandakan, Brisbane, Sydney. Melbourne

Adelaide

due Jist July. from Australle sails 2nd Aug for Japan

All vessels have liberty to call at any ports on ST 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, Hangoon, Calcutts and

Chittagong,g.

"NOREVERETT**

Arr. July

Sally July

"HRADEVERETT**

July:19

"LENEVER ET M "REBEVERETT”,

~

July 31 Aug 29

*** Aug Aug

Loading for Kobe, Osaka, Nagoya, Yokohama.

"LENEVERETT

*REKEYEREFT"

"NOREVERLET

"BRADEVERETT""

Juby-36

Sails July

Aug 1—— Aug.

A 22 - Aug. 23

-Sept.

-- Sept. 8 LIMITED PASSENGER ACCOMMODATION.

All the above subject to alteration without notice.

EVERETT

STAR LINE

FAST REGULAR FREIGHT REFRIGERATOR SERVICE

Loading for Singapore, Port Ewettenham, Madras, ¡ Colombo, Bombay. Karachi & Persian Gulf Port,"

Sails July 19

"BTAN BETELGEUSE” "STAR ARCTURUS", *THAI

- "STAR ALCYONE" -

IB Arr. July

Aug. 13.

Aug 28

Sept. 16

Loading for Kobe, Omaka, Nagoya, Yokohama.

"STAR. RETELGEUSE"

*STAR ARCTURUS"

Aug.

Sept. 17 Sept

Arr: July 15

Aug Aug. 20

Sabik July

Aug.

Sept Det.

74STAR ALGTONE- * Sept

LIMITED FÄSSENGER ACCOMMODATION. All the Above kubject, to alteration, without notien.

S/S "YOUNG SHIN": Amives June 25 from Japan

June 27 for Pusan & Kunsin

Chinese Department: Telephone 28293. Queen Building Telephone (31205,