THE CHINA MAIL, FRIDAY, JULY 1, 1955.
TRADE and COMMERCE
SECTION
British Colonies Stepped Up Imports From
NEW YORK
STOCK MARKET
New York, June 30. Grewing optimism for thei steel wage negotiations help ed the stock market again today, boosting prices all around.
Trading stepped up a bit with volume totalling 2.370.000 shares compared with 2,180,000 yester- day.
"Industrials, for the first time in history closed above the 450
mark in their average-rising 1.69 points to 451.38. Rails and!
utilities were slightly higher on
balance.
Good
in gains
stopis
ibuted importantly to the rise
industrials.
Bethlehemi,
Armco, Crucible, Republic, ES Steel all rose around a point.
Once again the fast-gaining Du Pont bolstered the list. more then
were firm. There
were
#t
Japan Last Year
London, June 30.
their
The British Colonies took advantage of the relaxation of restrictions on imports from japan last year to step up purchases from this source by nearly £16 million.
Their imports from Japan were worth £67,200,000, com- pared with £51,360,000 in 1953. But imports from this source last year were still substantially lower than the high levels reached in 1951 and 1952.
points. Motor's World Cotton
in. numerous dividual speelalties such as Gar lord Container which spurted more than 6 points on x plan to merge with Crawn Zelerbach. The latter, however, backed!
down around 2
Reynolds Metals Wis sposacular xainer
climbing 13 points,
in the metals,
4
Markets
i
"
As a result of these higher Japanese payments agreement
was signed early last year. imports and a reduction in ex-
Colonial Colonial governments were told the ports to Japan. territories had an adverse trade then that they could import all balance with Japan mounting they wanted from Japan. to £32,520.000 in 1954. pared with a trade £11,640,000 in 1953.
"gap"
com-
of
COULD NOT ABOLISH
Owing to administrative and other difficulties, however; im- This partly explains the rapid
port restrictions could not be New York, June 30. rise in Japan's sterling reserves
sterling abolished all at once, se traje the Cotton futures today follow last year after
by that with Japan did not begin to narrowly famine ica the slow and
experienced
the new freedom unli pattara retur
of recent country in 553, 11 was because refcet ressiens.
of this earlier shortage of ster-well into 1954,
Govets- According to Agures Business was mostly of pro-ling that the British fessional cripn. The speculativement decided to relax import made available by the Colonial,
and
when the Anglo-Office, talent remained dormant
restrictions mare in the stock marker and the trend of other cammodities..
US Steel again was the day's must active issue.
of
1,185 issues traded, interested total there were 568 higher, 378. lower
New York Stock Exchange
kend volume" was $3,860,000." Evening-up in the July can-
American Stock
just
Colonial imports from highest Japan reached their level in the last quarter of 1954+
when their monthly aver- age value was £1,660,000. with 2 monthly average ot £5,800,000 for the
compared Exchang tract provided the main activity World Rubber
volume was 840,000 shares.
CLOSING PRICES
Alden Inc. Acy.
Allied Chemical
Allied Mill, Inc.
All Chalmers
American Airline
American Cyacamide Co
Am. Mach. & dry.
American, Metal
American Smelling American Tel & Tell
American Tcb. "B Anaconda Copper Armeo Steel
Armgur
Baldwin-Lima-Ham. Baltimore & Ohta...
Bendix Aviation. Corp.
Benquet Colis
thieben Steel
Eoring Auplane
Borden (The Co.
Burroughs Add Machine
Canadian Pacie R.
Case (J. I.) Co.
C. IT Financial Corp.
Cat. Tractor
Celanese Coro
Crane ...........
Cuban Amer. Sugar
24%
No deliveries appeared for the
fourth session in a row, bu some quarters expected.
3 trat tenders tomorrow of
7424 next week.
280
50-1
36
58
con-
Larly
After swaying within a tee point range the list closed net points lower. 1 to 10
50 prices were up 5
Opening
Markets
year as a whole.
Imports from Japan were higher into all Colonies, but the biggest rises were recorded by African territories,
Singapore, June 30. the West The rubber market open-Aden and Hongkong.
SILVER PRICE
RAISED
New York, June 30,- Handy
Harman and bullion dealers, today rais ed the price of liver cent to 80% cents a ounce, the second increase
week,
fine
Handy and Harman, whose sliver quele is the basis for trading in the precious. metal here, said the boost
increase reflects
demand domestle the face of Insufficient supplies,
all
in in
On Tuesday, the price was raised i cent-United Press,
New York Foreign
Exchange
LONDON STOCK MARKET
London June 30, Stocks rallied in late trading on the London Fiechange today. Prices at the close generally were up fractions as traders appeared encouraged by the ab- in sence of any real pressure early profit-taking,
-The recovery in the New that York market and hope
would pick overseas demand up also aided sentiment.
led Industrials
the upturn with rechtront
favourites such
steels out T
as
Autos and
coppers
firmed.
aireafts also were strong.
Golde and
A
rally in gilt-edged British Government bonds lifted prices fractionally with War Loan 34 per cent leading the way.
and dollar Foreign bonds stocks were firm-United Press.
NEW YORK METAL FUTURES
Page
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Leaves London
Outward CARTHAGE“ Salled
"CORFU"
"CANTON"
"CARTHAGE"
20th July.
17th August
14th September
Due Hengkoag ̧. 25th July
32nd Augur
19th Sepimber
17th October
Via Southampton, Part said, Aden, Namday, Colombo. Penang & Singapore
Homewards J
"CARTHAGE”
"CORFU" *CANTON"
"CARTHAGE"
Leaves Hongkong Due Londen
29th July
26th August
59th Augus
17th September
3rd September 24th October ...
11** elabor
21se November
Via Agapore, Penang. Colombo, Bombay,, AĞCI, Port Said London.
“SOUDAN"
New York, June 30. Prices of metal futures closed today in cents per lb.
fol-
**SOMALI"
Hows:
Lead!
June
14.40b
July
14.30b
Tin
June
91.750
July
01.756
June
futures 101-13/37-1.01-15/32 futures 101-23/32-1.01-15732 Copper Junie 6-month futures. 1.01-13/33-1.01-15/33
July
1.36
$1.250
July
40.50
-United Press.
United Press,
New York, June 30. Canada
#1.01-13/33 Canadian dollar rate: future: 30-day DO-day
SHARES RISE TO
PEAK LEVELS
HK Stock Exchange Boom
By A Special Correspondent
Business is booming in a big way on the Hongkong Stock Exchange. The overall rise in share prices during the week was about the biggest of 1 pointed steady but later eased Nigeria stepped up its
pur-Hongkong has seen this year. And nine shares from on profit-taking. Offerings chase
this source by were at their highest levels of the year when well. absorbed. £3,780,000 to £9.348,000; the
Gold Coast by £1,272,000 to trading closed on the change yesterday after-
New Orleans closed off 8 to up A5 points.
159
44%
Interest in ace crop months were slackened. The October, 1856, Futures: 491 delivery, the recent market bell-
14
wether of strength, moved back No. 1 rubber par is. July 114-115
Aug. 1999-110% Sept. Unquoted No. 2 rubber per 15. July 10-108 100-101
3424-0316
-17% 15-36 116-117
23 Trading volume and cpen la
the Exchange terests in
1,700
4.300 7,000 2.180.600 bales
NEW YORK
Futures. closed 30 to 45 points higher with sales of 144 con- tracts,
Most of the trading originated Lamong dealer interest while the speculative element watched the slock market action and awaited Prices of futures closed today developments in the threatened
14.156. 3398-34.00 31.10-1) 2423-53
steel strike.
•
1423
60
and forth over a narrow range with realising supplying a trade and commission house demand.
Nu. 3 No. 4
.
Spot rubber mbled
3414
today
Blanket crepe
17.
No. 1 pale crepe
47 were:
36 Month
Volume Open, intere
2+1
July
15.200
238.800
Chase Manhat. Bank
51
acnber
15.200
492.600
Chrysler Motors
F40F%
December
18,200
$43,500
Colgate-Palmolive Co.
54
March
5.300 253,000.
Conimercial Credit
53%
May
Commonwealth Elec
493
Consolidated Edison
40
July October
3.200 3,000
281,000 171,500
12,700 71,000
Continental On of Del.
Continental Steel
38
42) December
Total
For Products
43
NEW YORK
Crown Zellerhach
82
Curtis Wright
201
Diamond Alkali
a follows:
Dow Chemicals
ST
Spot
Dupont de Nemours
Eastman Kodak
.00%
El Paso National Gas
4573
Erie Railroad
Family France Corp.
23
Miny
General Electric
531
July
General Foods
October
8211
General Motors
163.
Desember
Gen. Rub. Uul.
38
Gillette Safety Razor
711
Glidden
Co.
401;
Goodrich (B. F. Ca.
67%
as follows
Goodyear Tyre
Heyden Chemical
10%
Spot
llamstake Mining Co.
092%
July
Ingersoll-Rand
54%
October
Intand Steel Co.
70%
Interenemical Corp.
50
March
December
Int'l Business Machines
415
May
Int Harvester
30
July
International Nickel
254
International Paper
112
Int'l Tel & Tel
775
John-Manville Co.
Kansas C. Power & Light
Kennerett Copper
118
Liggett Meyers Tob. Co.
Lockheed Aircraft
Loews Incorp. .................... Lone Star Cement Co.
46%
Louisville & Nashville R.
BEL
24
Mesubt Iron Corp.
Lowenstein & Sons.
Minnesota Mining Mission Development Monsanto Chemical Co. Montgomery Ward
National Cash Reg. “A National Dairy Prod. National Distillers
National Lead ..... National Steel Corp. New York Central
On Mathieson
Ots Elevatore Owen-Unals Glass Pacific Gas & Elec. Pacific Western Oil Pan American Airways
Paramount Pictures
Parke Davis Co.
Penny J. C. Co.
Penn. Salt Co.
Philip Morris
Philips Petrofeum
Procter & Gamble Co.
Pittsburgh Plate Glass Punicker Industries Pure Oil
Radio Corporation
Ato Motors
Republe Sipel
Reynolds Metal
"Shell Oil Co.
Saint Reg. Paper
Sinclair Ofi
Socory Vacuum
South Porto Rico. Sugar Southern National Gas Southern Railway. (Com) Standard Ecuada Standard Cl of Cal., Standard. Os of Ind. Standard Oil of NJ,
Stokely-Van Camp,
40%
40%
Juty...
October December
March
NEW ORLEANS
34.07-12
34.24
3143
33.76
33.745
In the spot market, Sept. one sheets were offered at 36% cents 2 pound, or one-half cen; under I the "focr." Usually the ter
minal-spot market spread is only around cent a pound.
Spot No. 1 Rss were quoted
Prices of futures closed today at 37 cents, Futures:
October December
#2653883
282888822
Sept
£5,256.000; Ader by £2,448,000 to £3,576,000: and Hongkong by
£5,000,000 to £39,000,000.
Japanese goods imported into Hongkong and Aden are largely re-exported, but imports into othe
Colonial territories are consumed locally.
West Indian territories'
noon.
Officially the reason for the upswing in business is given as "better sentiment" and substantial remittances from outports in Southeast Asia.
Allied
These are important factors Company may sell some land but it should be remembered, which should benefit that the share market at present shares slightly,
about
im-
is
and
on the the most attractive! Realties are also up
investors
mentioned that nine: shares and speculators. High ports from Japan last year were proposition in Hongkong for week from $2.125 47 $2.225.
£1,178,000, compared
vields are still available
prices worth
despite were now at their best with £612.0X in 1953.-on-the rising prices
They are Whee price for the year. don Express Service.
fluctuations
arently 10- locks. Hongkong Trams, China teresting to attract gambler. Lights (paid and con). Electrics. Real estate,
bars and
US Lane Crawfords, Yangiszes and gold dollars
Rubber can appeal only to the Amalgamateds and wealthy and the profit Trusts. margins on the latter two are so But beginning from the top small
10 E3
wairont little of the list: Banks are $40 better on the interest at the moment.
and Unions $10 better
Korea-Japan
Trade
The
Of
بھیڑی
HOTELS EASE SLIGHTLY
Wharves have settled down to
This leads many brokers to week largely due to shortage of believe that the present wave of scrip.
·Seoul, June 30,
prosperity may continue for
South Korean
Ministry many weeks. Adjustments will of course take place with liqui- ! Commerce and Industry
reguladation but the long-term pros75 while Decks, at $26 buyers, today announced new
indicate
are roughly steady. governing trade between Pacts tions
Hotels are 10 cents down on South Korea and Japan.
The
announcement
27.40
sald
37.20
25.00 33.00
34.03
firstly, export of Korean goods w Japan would not be traz shipped or resold to Communist China,
LONDON
The market was steady with LIVERPOOL Future
American spot quoted at 36 pence per closings, middling in pence per lb. were 1b. Prices:
as follows:-
July/Aug.
Oct/Nov.
Dec/Jan.
Mar/Apr.
May/June
SAO PAULO
Apt./June
31.61
20.80
Settlement house term:
Aug. Sept.
3475-80
30.63
30.47
QEL/Dec. Janfor
30.34
July...
Aug.
General markets, el basis, ports:
3131-2214
Estate crepe
thick July
thin
AMSTERDAM »
Future closing prices, in eru- zeiros per kilo were as follows:
1124
31%
144
81
414
July
22's
Oct.
|
79%
Dec
Mar.
43
May
$7
In
65)
401
4412
10% at these
31.50
34.20
35.35 30.85 34.00
4
The market
the United States, the
WES steady. average price of 15/10 middling Prices in guilders per kilo- cotton at
len designated apot gramme, eif July as follows:-
No 1 Tabber Sales markets "was 33.97 cents.
No 2 rubber centres totalled 5,873
No 3 rubber No 1 crepe bales.United Press.
New York Sugar
World
Market
New York, June 30.
No: 4 sugar futures closed today unchanged to 1 point lower with sales of 46 contracts.
318 now.
3.30 ani. 3.15 nom. 320 nom.
United P.
Chicago Grain
Market
on
Chicago, June 30. Wheat futures advanced the Board of Trade today 101- Domestie No. 6 sugar futures lowing reports that no intentions lower to deliver wheat againi› July unchanged to 2 points with soles of 202 contracts. contracts were posted early in
World futures eased on light the session. liquidation while traders awaited expected
world reduction in |export quolas next week.
-Studebaker-Packard Corp.
Contract No 4 (world)
Swift & Co.
July
Texas Co.
Sept
Tide Water Am. Oil
Out
Twenty Century Fox Firm
MAT
Union Carbide
May
Union Pacific Railway
July
United Aircraft
Sept.
US, Gypsum
U.S. Line Co.
Spot-tenti per lb. Zob Cuba Contract No 4:
ABK.
U.S.. Smelling
Sept.
7.5. Steel
NOT
Warner Bros.
"Westinghouse Ziestrie
May.
West Va. Pulp & Paper
Woolworth
U.S. Rubber
Spot-(cent per lb. clt, NY
<x-duty)
any
market.
the small investor?
course
B
buoyant
choose
01
are
$2
Star
Yau
Yau-
Is it a good time to buy for the week but 10 cents up on the
Yes, ex-day and are selling at $17. while i
Lands are still attracting in- cellent, providing you your stocks carefully.
terest
last following
week's Wheelocks are still a good announcement of the purchase buy.
A broker friend of mine
of Jardine's property and the believes
237 they be
up to $8192
new share issue and sold yester- Yangiszes weck,
day at $71, or about $2 lower Secondly, import permits for next
at a slower and less than their best price last week. goods from Japan would only will follow them, though be issued where it was“ proved | cou
In the Utilities, all counters rato. They were are the goods wire produced or spectacular manufactured in Japan and not selling yesterday, at $6.95 and are better. Trams have leapt 80
see the company now claims 5 cents on the week to $24.
Ferries are being sought at $152 in Communist China,
statistical value of $8.45 a share. against $148 last week. with trade Thirdly,
matis
better at $121. BROKERS' THEORY
China Lights are 90 cents better, Japanese firm doing business directly or indirectly with Another share I like is China at $21.40 while Electrics have Communist China would be Providents which sold yesterday moved up smartly from $40% prohibited China Mail Special at $13.90- 40 cents rise on Telephones are still just short of
the week.
their best price of the year al- brokers
$1% better on the week Some
seem to feel though that as "Blue Chip" Utility at $35.
Cements are also up $1% to fall, interest will centre more and $324. And Lane Crawfords are more in shares like Providents up by a similar amount to $324 and Dairy Farms both of which
In fact the only section in the are yielding much more than doldrums is Textiles. Nanyange
the present moment. at Utilities at
$74 and Textiles at $544 tee! this These brokers
was show little change on last week's the chief reason for this week.
for the interest rates. in these two shares
But the alk
House Ice
·2.7017-Ž.76-9/10
was Wheelocit 1.7414-2.74-0/18 Street yesterday was 10.84-10.644 The first thing brokers said to 139.771391798245 me-with a smile of glcz-way.
1925-19.33
Wheelocks cents "Do you see what
"I
London Foreign prices go higher and the yielde
Exchange
London, June 30. Foreign exchange rates closed
as follows:
New
York
Montreal
Amsterdam Brussels Copenhagen Farts Stockholm
West Marks Zurich
D749744
116012-118,
12.1822-12.007%
-United Fress.
LONDON METAL
told
B
RUBBER SHARES UP
With the raw rubber price in Singapore up to 116 Straits cents
1b (seven better on the week), rubber of shares in Hongkong had one their. year.
this werd
week, the tenderately active at $2.85 last
are today? $8.5511
The templation to say "I
busest weckt You so" was almost too great
Trusts
.. which As I sald Last reason
their specta Thursday were selling at be cular rise is that many a
on a 12,000 turnover. Amalga- Chinese investors, are in the tween $3.10 and $3.15 yesterday market for them. For
month on a
mateds were 10 cents better at now these investors have been $2.125. the 1
of the share. Now con
then
Happy has returned and theya icture Turnover has been: buying in a big way, Yesterday higher and demand certainly alone, more than 20,000 shares more brisk and brokers feel it will continute, but one or two changed hands:
observers are looking at its ALLIEDS BETTER
little apprehensively. To what are big exient their fears are Justised Yangtze which Wheelock Marden: shareholders only the coming weeks will tell In a turnover Investors must expect some re- Hellerstared well tour
of 14,000 shares they rose 20 action sonte or later however, 112 cents on the day to $8.95 and Meanwhile the omens are are 45 cents better on the week good if remittances continue Allleds also Improved with coming in at the present rate buyers offering 35,30 after a sale there is no reason why the of $4.00 last week There is market should not go higher talk on the market that the Gas next week.
PRICES
London, June 30 The action in wheat brought scattered buying in, other grains. The tin carket was immer But outs and corn failed to rise with spot up point to 72874 zinc were sterling Led and above the steady mark,
steady while copper was eater. Exporters received notice that Prices closed today” in sterling Western Germany plans to be per long ton as follows in the market next Wednesday
Bearers for 5,305,000 bushels of US hard wheat and 3,347,000 bushels of Th Canadian wheat for July-Sept. shipment.
Wheat closed off to ug 1 cent, soyabeans (new) of 1 to 11⁄2 coats-Urated Preside
Copper
FREIGHT SERVICE
load* 2/3rd July for S'pore, P. Swatted.
ham, Penang.
Aden. Port Said. Genoa,
Marsellen. Havre. Lon don, Antwerp, Rotter- dam & Hamburg
don 2nd July from UK & Straits
Mail loads 3rd July for
Kobn Yokohama
With liberty to call at Balawan before or after straits Porta and us Bombay R inducement aƐns. Tanka available for carriage of Oll in Bolk. Space for refrigerated carto. Limited Pamenger accommodation
"SANTHIA"
&
BRITISH INDIA S.N. CO., LTD. »
In 'Port
from Japani sails 2nd July for Singapore, Penang..
Rangoon & Calcutta "STRDHANA" due 2nd July, from Calcutta. Rangdon
"WARORA”
sails 3rd July due 6th July walls 7th July
& Straits for Japan
from Japan.
for Singapore, Rangoon & Chittagong
P. & O./B. I. JOINT SERVICE
"OBRA"
ive 2nd July from Karachi & Bombay
etc.
salle 3d July for Japan
"OLINDA" "
dus 11th July
·salts 12zła 'July
from Japan
for Singapore Madras, Karachi-Basrah, Khor- ranakahr & Kuwait
EASTERN & AUSTRALIAN S.S. CO., LTD. "NELLORE"
"EASTERN"
due 61 July salls 8th July
from Japan
for Sandakan, Brisbane, Sydney, Melbourne Adelaide
due 31st July from Australia sails 2nd Aug. · for: Japan
All vessels have liberty to call at any ports on or of the route & the routs & sailing are subject to chance or amendment with or withoni notice.
For full particulars apply la:- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD.. Telephone Nos. 27721-4.
EVERETT
LINES
EVERETT ORIENT LINE
Past Regular Freight Refrigerator Passenger Service Loading for Singapore, Penang, Bangoom,' Calentia and
"NOREVERETT:
"BRADEVERETT"
"LENEVERETT” "REBEVERKTT"
Chittagong.
13 - Sept.
Am. July
2
Sal's July
July 18
-- July
19
-- Aug.
1
-- Aug.
-- Sept.
Arr. July
+
Sale July
-- Aug.
A
***** Allg.
-- Aug.
a
Sept.
Loading for Kobe, Omka, Nagoja, Yokokatua.
"LENEVERETT
"REBEVERETT,
"NOREVER?TT"
"BRADEVERETT
-- Aug. 22 -- Sept. LIMITED PASSENGEE ACCOMMODATION,
All the above subject to alteraten without notics.:
EVERETT
STAR LINE
FAST REGULAR FREIGHT KESHIGERATOR SERVICE Loading for Singapore, Port Ewettenham, Madras, Colombo, Bombly, Karachi & Persian Gulf Fort Art July 15 Sails July
"STAR: BETELGEUSE"!·
*STAR ARCTURES" **THAI"
"STAR ALCYONE?”
Aug. 130 --- Aug. Sept.
..1
Sept. 22
- Oct., -5
Sept ****Sept:
Leading for Kobe, 'Onks, Nagoya, Tokchana.
"STAR BETELGRÜBE”
"STAR ARCTURUS" *THAIZ
"STAR ALCYONE"
Art. July 18
Exis July 17
-- Aug. S - Aug.
- Aug. 27
Sept.
Aug 20 Sept.
- Oct. LIMITED PASSENGER ACCOMMODATION, All the above bject to alteration, without notice.
EVERETT STEAMSHIP CORPORATION S/A
(Incorporated in the Republic of Panama with Limited Liability) Chinese Department: Telephone 28293. Queen' Building, Telephone 31206.
No comments yet.
Private notes are available after approval.