TRADE and
NEW YORK
THE CHINA MAIL, TUESDAY, JULY 19, 1955.
COMMERCE SECTION
STOCK AMERICAN ECONOMY HONGKONG
MARKET
New York, July 18. Stocks gave ground today when interest waned after an active and higher start.
Market influences curable including widespread optimism over the prospects for the suminit conference of work! fenders at Geneva,
were fav-
Normal profi-taking-and the heat
-worked against the market The decline was n
Most
Josser were
however. modest one. limited to less than a point, and volume dwindled with turnover totalling 2,160,000 shares, cor- pared with 2,230,000 on Friday. Industrial #hares lost just few cents on average as gains of paint or mere in Genera! Motors, General Foods, Du Pat
uld h National Steel point rise in Procter and Cam-
te tempered
declining among the leaders.
n
2
A 3 point loss in Union Paci fe and a drop of more than 2 paints in Kansas City Southern weighed on mails, pulling their Average down over a point.
Of a total 1,167 issues traded, 522 closed lower while 407 were, higher.
Steely were most lower.
Activity centred
Manufacturing
ticun!
tp
Wall Street Watching
Geneva Developments
By
JOHN MORKA
New York, July 18,
Wall Streeters were cautiously hopeful that the Big Four conference at Geneva this week might lay the ground- work for a lessening of political tensions and for an accompanying expansion in world tråde.
A successful Geneva conference could have dynamic in financial circles economic repercussions, it is emphasised here.
According
could:
it
13 observers
⚫ 1. Bolster International business psychology and spark a dynamic growth in production.
2. Boost International trade and the movement of in- vestment funds across borders.
Avcu Interna- and
Telephone. bolh
fractionally..
13[r
New York Stock Exchange bond volume was $4,000,000,
American
Stork
Exchange
volume was 720,000 shares.
Dow-Jones closing averages
were:
triak
20 dk.
15 utilities
CA stocks
40 bonds
-46007
41.27 144.20
เง
151.29
PRICES
Cher future price inses
CLOSING
Alden Inc. Aey
Allied Chemicals
Allied Mills Inc.
Allis Chon14-15
American Airline
American Cyanamide
American Metal
American Smelting
Am Macht & P diy.
American T & Tel
Americans Tob. "!!"
Anaconda Copper
Arne Steri
AMBALT
Ikiwin-Liina-1am.
3. Help
lift current trade from channels.
• 4. Provide an era of re
Selection Trust and East-West Rhodesian restrictive Downtor Paper Company,
observers According to some here,
market as the American moves higher, it will inevitably lative peace and stability and draw with It Issues of foreign climate must suitable for the
gricultural and
Industrial rigin. The growth of the so-called under-
current American in-
securities i developed nations of the world.terest in overseas
5. Lay the basis for
described a generally
information on the pencetul ap- plications of atomic energy.
World Cotton mutually profitable exchange of prompted by a relative
Markets
on
New York, July 18. Colton futures favoured the 106 downside moderate dealings.
The market opened easier on weekend hedging but lack of a Government announcement its cotton polley for next season induced short covering by recent sellers and pushed prices above their previous closing levels by noon. Reports of improvement
The fexifle
the market also was a
+27
112%
2/1
232
2016
39%
2012
70
T?L
142
Roltimae & Ohla
49
Indix Aviathan Carpi
Begues Cats
14
Bethlehem Steel
1392
Boeing Airplane
50;
Borden (7) Co.
Burroughs Add Machine
Canadian Pine R.
Сане 12.1.1 Сп
C.LT. Financial Corp.
Cat. Tetor
Celanese Corp.
Chase Manhat. Ban
Chrysler Motors Colgate-Primive Ca.
Conimercial Credit
12
it:
stendying factor.
At the close the list ruled 1 to Opened 2 to 7 12 points lower, lower. New Orleans futures finished 4 to points lower.
PEACE ASSURANCES Assurances of peace along with actual peace would un- doubtedly give a "new look" to world trade along as deemed Impossible under present cold
tensions, according to on. war servers here,
as being dearth
of lower-priced. American issues. With investment funds at all-
time peaks. Americans
been looking over the foreign market for potentially profitable channels for investment.
10
а
This interest has been large measure speculative. The possibility of war in Europe has ixen entirely forgotten by such investors,
to well- according Wall Streeters are for from placed obrervers.
about the Geneva pessimistic
SEARCH FOR BARGAINS conference → despite official
In the search for bargain warnings not to expect too much from the talks. Many see in the abroad, emphasis is being placed of cor- a genuine opportunity past performances conference
is only an oppor-borations, on current high levels tunity
nothing else for pro of European prosperity and on and
pence for the first expectations of a continued de- gress
mand for new goods and services time in many years.
These hopeful observers point everywhere.
some
"and"
it
to the revent firm behaviour of
Chancellor's Warning
London, July 18.
The main interest in the City of London this morn- ing was, the speech by Mir R. A. Butler, Cha
Chancellor of the Exchequer, over the containing 1. weekend warning that he would not hesitate to adopt further measures of restraint over domestle demand if there were any signs these were needed.
Referring to the credit squeeze applied a Febru ary, he said this took time to work but there have encouraging signs that it was working.
been
The Overscoa trade figures in April and May' were "distinctly beller." he said, Sinea
then. however, Britain has suffered re- verses. The large wage Increases brought danger that demand might run ahead too quickly unitus productivity was increase. -China Mail Special.
World Rubber
No. 4
Markets
Singapore, July 18. The rubber market ruled fam during the day on rumour of Russian buying and short cover- Ing. Furture closings were: No. 1 rubber per lb. Aug. 1279-127%
Sept. 12494-123 Oct. uniquoted
1234-12233 No. 3 rubber per lb. Aug. leta 100-310 1201-1201 Spot rubber unbate: ".. Blanket crepe
100-10112 No. 1 pale crepe
127-129 NEW YORK Futures closed today 85 to 105
contracts.
Both the spot and futures markets moved higher in line with strength
and at London Singapore but trading was quiet. Spot No. 1 Rss were quoled nominally at 40% cents a pound. Futures were:
However, offerings Increased | security prices as an indention notably such old gland-bys as points higher with sales of 87
not reach the final nelion stage speculation. this year.
Brea
the
Dutch shares especially, have of allention, come in for lots
Royal
Philips and Dutch Civellampen. Royal Dutch has been trading on the New York Stock Exchange for months now, and have moved higher by more points since its thon twenty
September December March
May July September
41.00
30.00
37.00
30.41
30.00
34.00
sufficiently in the afternoon to of the underlying business and
that confidence 14 meet demand and prices de-investor
clined somewhat.
Geneva talks will not be alto- Liverpool prices were strong gether fruitless.
Stock prices, it is explained. reflecting the lack of a Govern- ment policy here and a survey have moved higher by six per in New York which showed cent over the past six weeks at that many legislative proposalsa time preparats for listing.
the which affect retailers and the Geneva conference occupied in- It was felt by mony that the
of there willternational textile-apparel industries
prime Dutch attention and Prices
securities were undervalued in Wall Street attribute part of relation to the world market,
tiere Securitica A leading spot firm noted this market
specialists rise to a growing of
blg drop in the spenk hopefully of the decided improvement in demand anticipation
LONDON for spot cotton In the Atlanta cold war tensions at Geneva.
market for new foreign listings The market was steady with last
both from
in the United States. Mr Kelih week.
US business For
especially,
spot closing at 39% pênce prompt and forward deliveries. any Improvement in this direc- Funston, New York Stock Ex-Prices: Ok inch and longer staple was
would open now
Presklent, recently re- markets change
No. 1 Rs not leur. turned from a European
Settlement house tenn in good demand with offerings and opportunities for overseas tuned ver echoed
Aug. this
nole, investments. Already, it is point-
Sepl Chilet Trading volumes and open in-d
out, despite overhanging
* block to an (Oct./Dee.
the
of Jan./Mar number Exchange today clouds of the cold war, Ameri- increase in tercats in the
foreig can investors have been buying for
on American Apr./June
General markets, elt basis, ports: foreign securities at a faster security exchanges has been the July
companies to Aug. nability of some pace than ever before, despite
Sept. threats of confiscation, war and alter their corporate structures siste crepe thick July
to conform with American regu- $1035.
lutions calling for full disclosure of earnings reports among other for
requirements.
It is felt here that any casing of world tensions at Geneva, therefore, would most certainly give an adder Impelus to the fiready streng American interest
Scarce.
Commonwealth Elec.
Consolidated Edicon
Continental Off of Del,
Contturnia! Steel
Com Products
Crane Co......
Crown Zellerbach
7825
Cuban Amer. Sugar
Curtle Wright
Dlaimond Alkal
421
Dow Chemicals
were:
Dupont de Nemours
231
Fastenan Kodak
El Paso National Gan
Month July
Frio Railroad
2211
October
Farily Finance Corp.
ZAY
General Electric
A231
General Foods
823
General Motont
1290
July
Deinber
773%
December
Tubal
5414
Gen. Pub. Util. Gillette Safety
Razor
Gidden C) Co. Goodrich (33.
Goodyear Tyre
Heyden Chemical
Horstake Mining Co.
Intern-Tand
Jln Steel Co.
Interchemical Corp.
Int'l Business Machines
Ini Harvester
International Nickel
International Paper
Int'l Tel & Tel
Jolin-Manville C.
December May
March
Open interest
43,500
Volume
27.400
30,100 000,100
403,000
24,500 $200,000
14.000
32500 310,100.
107,200 $4.500 0,400
11.00 2.300
149,8000 2.143,300 bales NEW YORK Prices of futures closed today
10 as follows
400
Spot
October December
March
NEW ORLEANS
tion,
PROMISE OF PEACE Tira promise of
would peace mean, therefore, more produc tion-bigger and more efficient-
divi- bigger profits, favourable
"The dends.
promise of peace would focus attention in those 3170-71 American companies with large foreign investments, and on the possibility of large-scale invest-
34,450
2303 33.02
34.04
33.44
ments overscILS.
listings
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange this morn- Ing amounted to $1,950,000, Noon quotations and the mom- ing's transactions;
SHARES BUYERS SELLERS BALES
DANKS
1K Bank
East Asia INSURANCES
ויי, תואנת
Lombard
Page
P&O B.I. E&A
COMPANIES
PENINSULAR G ORIENTAL S.N. CO..
PASSENGER/FREIGHT SERVICE
Outwards "CARTHAGE"
"CORFU"
"CANTON"
Leaves London
Salled
21st July
17th August
"CARTHAGE" 14th September
201
flue Hongkong
July 23rd August
19th September
17th October,
Via Southampton, Port Said, Ades, Bombay, Colombo, Tebang & Singapore
Ioniewarda "CARTHAGE”
1835 1963 30 1660 1800
*CORFUTM*
A 1005 10 1800
"CANTON"
244
1030
50 ca 400 0 07.
Underwrhers 0.40
SHIPPING
Waterbust Asia Nav.
DOCKS, ETC. K. Wharf
Dock
Provident (Old:
21 Die
73 Tây 100 đ. Tây 20.00 27.30 250 (20.30
....18.40 16
550 @ 1540
300 ( 25.40
"CARTHAGE"
Leuven Kongkong Due London
29th July
27th August 23rd September
21st October
29th August
26th September
24th October
21st November
Via Singapore, Pening, Colombo, Bombay, Aden,
Port Said à Louden
FREIGHT SERVICE
"SINGAPORE” due 22yd July from UK.
"SOMALI"
B00 & 153
Wheelock
9 0.80 2500 1,60
1000 . 0.68
1500 | 0.70
2300 8.80
500 G 1S
500 y 9.00 3300 (3,75
L
.. 126
17 17.10 22500
13
17.10
1000 or
LAND. ETC.
HK Hotel
HK Lami
Humphreys Really
UTILITIES
Tram
10.90
2000 200
2.76 255 6400 61 2.475
*42,000 @... 235-
*24.20 24.40 2600 48 31:30 2000 24,40
Star Ferry 102. 155 Vmati Ferry 121
C. Light (0) 2211⁄2
C. Light (17.70
Electric
Macke Elec. Telephone
INDUSTRIALS
Cement Rupe STORES, ETC.
Dalry Winton
500 €) 121 100 2004 122
500 23.30
loads 3rd July for Koba & YokohamTIG loads 27/20th July for S'pore. P. SwetteNET- Aden. sam, Penang Port Sald, Genoa Marsailles, Havre, Lon- don. Antwerp, Rotter- dam & Hamburg
With herty to call at Balawan before or after Straits Ports and at Dombay if inducement offers.
Tanks available for carriage of Oil in Bulk. Space for refrigerated cargo. Limlied Passenger accommodation
BRITISH INDIA 5.N. CO., LTD.
"SIRDHANA” dus 22nd July from Japan
"SANGOLA"
2000 1 2235
18
400 7 33,00 500 17.80 100 g 17.90 500 17.80
"FULTALA"
£34, 437%
200
1000
BOD
11
30 30 500
2000
700
321 3234 4277 W DREK 1770 18) 500) (172)
23.2023.30 $160 & 23.30 15:20 15 500 a 14:00
600 10. 1000 18.10 1000 10.20
500 700 34
L. Crawford 34% COTTONS
3333
Textiles
0.10 6.20 2000 til 6.15 Nanyang
0.40 81 MISCELLANEOUS Yangtze ...7.2
Ailled
3.70
32:30 61
4500
34000 8.7 37,000.
Singapore
Stock Market
Singapore, July 19, Brokers today quoted the fol- lowing stock prices:
July 19 Opening Falu Latang Tubber Co.
Ite
$1.37 Horneo Petroleum
38-381
38-3614
37-372
20-30
Britis
32-33
Syndicate
47/-
301-31
Consolidated Nn Sinciter
Ord.
34/30
thin
37-3711 3641-367- 3347-34 301 37 -United Preat.
Frazer & Neave Ltd Ord,
Fraser & Neave Ltd 7:55
run. pref
$1.73
$0.55
Hongkong *
Shang
Banking Corp
LONDON SILVER
PRICES
Hongkong Tin Ltd.
Kempas Lid.
Lunas Rubber Estates Lid.
Malayan Brewerles
New Serandal
Ltd.
Rubber Co.
Penting Tin Li Holley Hate! Singapore Cold Storage South British Insurance
Ltd.
London, July 18. The price of silver was quoted today at 79 pence per fine ounce
Straite Trading foregssues.
for spot and 70 pence for for-Straits Steamahly Mentioned favourably in
United Engineers Ord. ward, (against 70% and 78% financial circles has pence American
previously.) United Wearne ros.
-cumdir. texdly China Europe's Warkable agreements reached been
tremendous Press.
Specta). at Genova or at least the pro-upsurge in economic activity. The thriving industry there, the Prices of futures closed today mise of some would be a
favourable development for the booming stock markets and the to rising standards of living have alock
market,
according
pro- От observers.
the promise of far exceeded the relative SERVEER VE uninterrupted
and sperity of the United States, ac- production sales, securities would be ex-cording to observers.
continue bullish, in Economist Dr Robert Arles, pected to
example, just returned from the opinion, of many,
Docember
March
May
LIVERPOOL Future closings,
33,59
23.74 23.23-04
34,00
34.03
33.42
33.17
53.33
for
A broader international trad-EUTODOCtimated that Western
ng market-one
American ing mar
con--
401
75%
50
May
304
July
732%
1001+2
October
December
2011
Kansas C. Power & Light
Kunecat Copper
117
Pleret: Nevers Tob. Co.
as follows:
05
Spot...
Lockheed Aircraft
421%
October
Loews Incarn
231
Lone Star Cement Co.
Louisville & Nashvlile R.
Lowenstein A Sone.
2438
July
Mesabi Irun Corp.
401
Minnesota Mining
110
October December
Misston Development
30
Montato Chemdent Co
137%
Montgomery Ward
10%
Motorna Inc.
National Cash Reg. "A"
National Dairy
ins follows:
Nitional Distillers
National, Lead
70
Oct/Nov.
Nation Steel Cory.
Jan./Dec.
47
Mar. Apr.
150
May/June
7015
SAO
1:30
Pacific Ges & Elec.
Pacific Western Oll
Pan American Airways
Oct.
33.90
A
Paramount Pictures
312
Dec.
Parke Davin Co.
4084
Mar.
30,30
Penny J. C. Co.
May
3420
Ponn. Salt CD.
50
Philip Morrin
Philips Petroleum
40
In the United States, the 1950 will undoubtedly result
continuation of the high level of economic pelivity in the United Statco
revived interest
by Ameri-
Procter & Gamble Co.
102
Pittsburgh Plato Ginas
20
Pimlicker Indawirios
Pure Olf
New York Central-
Olin Matlleran
Otis Elevatoys
Owen-linole Class
Radio Corporation
Hteo Motom
Repubile Elecl
Reynoista Metal
Shell all Co....
Saint Nea. Paper Sinclair Ol
Bocony Vacuum
South Porto rien Sugar
Bouthern National Gäs Southern Railway (Com.) Standard Brandi
Standard Oil of Cal.
Standard Oft at Ind.
Atandard Où of N.J
Tide Water Awn. Osi
21 middling, in pence per lb. were ceivably
4238
July/Aug.
PAULO
cont
in
showed a production in- which could result from the crease of 5 per cent in 1953; 9 Geneva
talks would
1954 and an mean per 30.00 change in emphasis for investors, estimated 5 per cent in the first
Whereas
months of 1955, --- United reas the market formerly discounted
earnings 29.32; from
the United
29.70 20,40 29.42
value of the
ons outsido
It is stressed, the
Presa.
Future closings, in cruzeiros situation may then be in the New York Sugar
per kilo were as follows:
33.40
of process being revered.
average price of 16/10 middling in
and in Europe into
Market
World
New York, July 18.
No. 4 sugar futures
Consumer Canadian
Goods Spending
Montreal, July 18.
Canadians spent $15,600,000,000 on consumer goods in 1954, a rise of three per cent over 1953 in spite of some decline in capital expenditure and exports. During the year, the country's population increased by 2.7 per cent, so individual expenditure was about the same.
The Canadian Bank of Commerce discusses
nt the 10 designated spot can investors in buying foreign ay closed 1 point higher to why consumers spend in its current commercial
socurities and bonds.
markets was 33.65 cents per lb, 10% Sales at these centres totalled
10,304 bales.
50%
01%
-United Pres.
ALL-TIME PEAK
1 point lower with sales of 73 contracts.
Domestic No. 6 suger Already Ameriem interest Intures unchanged to foreign securities is al a post-higher.
war peak.. Right now, necording. Both
New York Foreign pubile
Exchange
New York, July, 10.
$1,014
3.17-25/22
#1 England official ***** 2.78-18/32
393% Canada
81th
Biokely-Van Comp. Studebaker-Packard Corp.
10
Awilt & Co,
TEXAS CO,
10576
Twenty Century Fox Fim
Union Carbide
Tinton Pacino Hallway
104
277%
1.8. Line Co.
So
tha, Amelung
United Alreraft
CİER, Cyprum
Te the. Rubber
Warner Bros.
istest, Va. Pulp & Paper
Woolwo
30-day futiles . 10-day futures..
is not confined
510
to, thego two tree
1. point
world and domestic
The main factor, the bank' says, is letter. purchasing power, the amount of money the con- sumer has after paying taxes.
Other factors are the shift in jesme i the market. And unila the distribution of income with like a home-freezer will often
to analysts here, the American futures traded within a narrow
owns more British and Dutch securities, for example, range in slow dealings.
In the domestle raw market, a 198 tendtney tu ralso thebe bought al the expense of than ever before. And this trend
moderate line of Cuba's duty standard, of living. Population something pise.
and the proportion of "Few Bugar were held at 6.08 Increase
people are limited in: | countries only.
cents a pound, delivered.
older people and children in the their purchases by ʼn lack of ob- Wosi
German issues are be-
price Refiners did not show much population,
changes, Jects on
on which to spend their increasingly popular. coming
Improvements, money," the letter anys. interest but were
considered lochnological 3.76-33/22 Swiss Lasties, Montecatini, possible, buyers at 0.05 cents
·crodit
wid rezulatione,
tho A drop in disposable income -United Press. General Italian Ediron and Flot suitable positions, Futures: availability of goods.
may not have an immediate Motors despite the shaky Contract Ro, € (world)
OBSOLETE
effect on spending. A man may economy, and the ever Repl
The
Bank pointed out that be spending not only his current technological Improvements raise income but some of last year's Hving standardla which once in the form of savings and next. attained - fond" to be held your's in the form of credit..
lovelled So although income necessarily mean the constunor off in 1054, expenditures atmynd 04: Produsele Floke bad more....“ „‚„New at the mime level. Ninety-
Italian
prosent threat of Communist
Exchange Rates disturbances,
May
Japarieso and French Imues July
done in the toast are being given a favourable pointe per io, fob Cubaisa teraviouly. But this does not Business WAI unofficial exonange market, this look, once i arsin, As* usual contrari. No, & mornikig at the following ratessen. British and South African shares B11Bdeller (per 1)
Marking notes pis. 411. 1984 Pre the most popular-in she Australian notes (per al)metre la Amerionts levimuiors: portfolie of ' Indonesian rupiah (per, 100) p. 13) foreign. Tulindwa Among - the wale 2010, imadorm due mich gilt-edge Ierusa Bingapore; (8 mb) Indo-China planiras (per 100 +36 | 35. Grant Universal at Stores,
maco the old ones too per cont of diapomble in- obsolete. If "" contar television, pome went on connumen" goods. Were to be mon ordion your compared with 91 per
would cunt from 1951-1953)-
Anon aven
salls 23rd July
dite 20th July
salle 27th July
for Singapore, Penang, Rangoon & Calcutta from Calcutta. Rangoon
& Straits
for Kobe de YokohamA
die 7th Aug. from Japan
sally 8th Aug. for Singapore, Rangoon
& Chittagong
.
P. & O./B. I. JOINT SERVICE ·
“OBRA"
"ORMARA”
dne 2nd AUC, sas 3rd Aug.
due 15th Aug.
site 10th Aug.
from Japan
for Bingapore, Colombo, Cochin, Karachi, Basrais, Khorramshahr & Kuwait from P. Gulf. Karachi & Bombay for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"EASTERN"
"NANKIN"
due 31st July sails 2nd Aug.
due 19th Aug. salls 20th Aug.
from Austraila for Japan
from Japan
for Sandokan, Rabaul, Brisbane, Sydney, Mel- bourne & Adelilde
All vessels have liberty to call at any porta on or off the route & the rotte & railing are subisci to change or amendment with or without notice.
|
For full particulars apply to: MACKINNON, MACKENZIE & CO.
OF HONG KONG LTD, Telephone Nos. 27721-4.
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"REBEVIRITT”
"NOREVERETT""
"BRADEVERETT""
"LENEVERETT".
In Part Landing
Anile July 19
Arr. Aug.
1
-- Aug.
2
- Sept.
-Sept. 20.
Sept. Bept. 21
Arr. Aug. 10
Sails Aug.
11
-- Aug.
23 ***** AUS.
24
***Sept.
7
- Sept. 21
Sept. D →Sept.
23
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"STAR ALCYONE" -LAD
24 Landing for Kibe, "SYAN BETZLAINUSK“ "STAK ARCEUSUS”
*STAR ALUYONR"
-- Sept.
ATT. Aug. 16 Sails Aug. 17 - Best 10 Sept. 20. -Bapt.
16-Oct,
Oct
31
Nov.
Osaka, Nagoya, Tekohama.
In Port Loading 超
Arr, Aug.
www.Stu.
Balla July
******* Aug.
- Sept. 17 **Sept. --- Oct.
LIMITED FASEENGES·ÁCCOMMODATION, All the abere mužjach de näaraliem wikani'mation,
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