1955-07-22 — Page 9

THE CHINA MAIL, FRIDAY, JULY 22, 1955.

TRADE and COMMERCE

SECTION

NEW YORK A WEEK OF BIG BUSINESS

STOCK

MARKET

New York, July 21. Top grade mutors, chemi- cala, oils and aircrafts rose a point to more than 2 points in a higher, more active stock market today.

Despite same late profit- taking, industrials finished with an average gates of almost 3 points, reflecting rises of more than 2 points an. Du Pont, General Motors, Standard O of California, United Aircraft,

Raily managed a small average rise and utilities continued their moxical but steady advice, climbing to another peak.

Trading Increased in the up- tum to 2,500,000 shares from 2,000,000 yesterday and was tho heaviest in over a week.

Republle, the day's most ac- tive issue, was

the leuder in aircrafts where Dougins climbed more than a point and United i Aircraft early 3 points.

Turnover Total Tops

$14 Million Mark

INDECISIVE MOOD PREVAILS

By A Special Correspondent

The outstanding feature of trading on the Hongkong Stock Exchange topped, the this week was that business for the four-and-a-half-day-period $14 million mark. The average daily turnover of more than $3 million must be the highest record for many years.

Tuesday's turnover of $3,960,000 was certainly the highest that brokers can recall for a long

World Cotton time.

Markets

chighly

few

of

My spics tell me there have, cause brokers had anticipated been some hectic scenes in the this position quille

shares went trading hall with 60 at phones weeks Bgo. The

and up buzzing, lights flashing,

the because of people trying to make them-excellent progress made by kelves heard above the general | the Hangkong and Ching melee, Just to make proceedings Gas Company, 85 per cent were

the shares of which are held by Allied and associate companies. Also Allieds come under the general influence of their pre- ent company which has been enjoying

such wide popularity

Non-ferrous inctals strong with gains of a point or more in Aluminium and Alcoa, Vanadium Corp.

Oils were strong performers. of 1192 trues traded Today, 506 clored higher only lower.

201

New York, July 21. Cottey futures again moved lower today in moderately active dealings.

At the close prices ruled

a

to 10 points lower. Opened i to 4 lower. Now Orleans closed 0 to 19 lower.

Heavy liquidation in the near by months, which was attributed Dow-Jones closing averages to uncertainty over the Govern-

for

were:

CLOSING PRICES

9

industrials

20 A

15 milkties

45 stocks

40 bonds

Comm. future price inlex

Alden Inc. Ars.

$

Allied Chemicals

Allied Mila Inc.

Allle Chatmeri

American Airline

Am. Sugar Htet,...

Ainertean Cyattanside Cu.

Am. Moet & dry.

American Metal

American Smelting

American Tel & Tel Anierican Tou. "13"

Annco Steel

Annour

Bakiwin-Lung-kam,

39

mont

collon

programme

re

little more heetle one or two Chinese brokers began spread- about ing sensational rumours Wheelocks of all shares.

Blood pressures have really been rising in Ice House Street this weck.

And brokers went home tired men fast night,

་

a

in recent weeks.

Yangiszes have of course Im- proved on the strength of their holding of Wheelocks shares.

In the docks and wharves section, sale ef Hongkong

better on a buyer's bid $19.20.

10

US Production

Record Rate

Washington, July 21, American production took* A mirprising Yeap to a re- cord rate of 383 billion dollars annually

the April-June quarter of 1955. President's Connell of Economto Advisers nounced on Thursday.

Many other new recorda In personal income, con sumer spending, employ- ment and industrial output Alsclosed --were

in the council's monthly publica- tion, Economló Indicators,

These figures established the second quarter as ilta highest mark of business activity in American B- lory. Among the major indexes, only farm income decreased.

The new production rate was $7,700,000,000 above the previous high -- at- tained in the first quarter. Associated Press,

World Rubber

Markets

Singapore, July 21, The rubber market opened

buying ol October/December

shipments.

Future closings were:

No. 1 rubber per lu, Aug. 1322,-132%

Sent. 131-13142

Qc. unausted

118-1199 113-114

50 cents

No. 3

No. 4

of

Spot ruber unbated

Blanket crepe

13246-1331% 10235-10975

1324-1034

NEW YORK

No. 1 pale crepe

In the strenuous activity of this week's market there elcar reflection of the large- next season, touched off stop scale remittances that have beecks sent the shares up about firm on good overseas advices loss selling orders and prices coming in 10 the Colony's)

trade last week's buyer's and 461.87 dropped as much as $1 a bale. Chinese banks in recent months 40 cents on

buying for short Stcovering. It continued strong in There was dy scale down buy- from various parts of Southeast rate of $20.00, Providents 138.24

Asia. Some

the Afternoon think that early! $15.00, 70 cents better on

rumoured Russian 60,10 ing in evidence. 160.70 New Orleans and local traders optimism over the Geneva talks week, are climbing slowly

19.06

were on the selling side. Liver spurred activity. But personally this year's peak of $10.60. €50.75

sturens sold" the far of do not think they have had

All the main find issues are co

Hotels higher this week.

at much effect on our market. 1139 months.

There 'was a moderate

$17.30 ELUSIVE "SUMMIT

arc 20

better, rents 344; eovery in the afternoon on some During the week share prlegs Lands at $73% are $2 better, No. 2 rubber per 1h. Aug. 16-128 L

aro covering and mill continued to advance on a wide und Humphreys Glocal short

price fixing and prices jumped front but they closed below 50 to 60 cents from their lows. their best level with the market At one time both the nearby in ca Indeelsive cod. Sheres October and

rise December were generally seem unable to under the expected tal loan on beyond the peak levels eginblish- the 1955 crop which traders cd in January this year. Profit- currently figure will be around taking catches up with them as 33.61 cents for middling 15/16-soon as they reach the "summit." inch cotton.

Yesterday after two days set Trading volume and upen in good rises the market experi- today enced what brokers describe as 151 terest in the Exchange

"shake-out." Most shares suffered fractional losses but the on a ruintively market closed steady note.

Perhaps the outstanding move- ment this week was Bank's leap

ex to $1,850 which, us un dividend sale, was about $84 better

on the week. Bank serip has been and I have heard

2

SIE

ግዜ

181

22

Anaconda Copper

W

4+

13

Baltimore & Ohn

Bendix Aviation Corp.

Benguet. Cous.

Bethlehem Steel

Bocing Airplane

Iterden (The) Co.

Burroughs Add Machine

Canadian Prelile

Case

J. 1.) Co.

.

T. Financial Corp.

Cat. Tractor

14 ז0

were

GREA

31

Month

Oct

Volume 23,100

Open interest

421100

TEM

Dec.

..... 21,000

080300

Mar

7,000

290,000

53 May

10,500

318,000

Celante Caro,

PREL

July

3,700

102.600

Chase Manhat. Bank

5051

Del.

1,300

106,500

Chrysler Motors

Dec.

2,100

Colgate-Palmolive Co.

35 Total

75.000

13.200 2.000,300 baies

Commercial Credit

어릴

Commonwealth Elee.

NEW YORK

Consolidated Edison

509%

Continental Oll of Del.

Continental Steel

Corn Products

as follows:

Crane Co...

409%

Spot

Oct.

Dec.

Mar

May

July

Oct.

Dec.

Crown Zellerbach

Cuban Amer. Sugar

Curtis Wright

Diamond Alkali

Dow Chemicals

Dupont de Nemours

Exatman Kodak

El Paso National Gas

Erie Railroad..

Fantly Finance Com.

General Electrie

General Foods

General Motors Gen. Pub. UU. Gillette Safely Razor Gidden Co.

ช

of

scaree

of some

Prices of futures closed today brokers who have been trying 10 get F Hongkong register on the London market without success. Unions have also been very scarce this week. There was a single sale at $1,030 on Monday but since then buyers have pushed up their bids

33.33 33,56-50

13.67

33.02

33 20

12.077

32.00

NEW ORLEANS

Prices of Eutures closed today

as follows:

Spot

33.10

Oct.

54.35

Dec

Goodrich (1.F.) Có

Mar

33,73

Goodyear__Tre

May

Heyden, Chem(ta)

July

Homstoke Mining Co.

Get.

Ingersoll-Rand

Dec.

Inland Steel, Co.

Interchemical Corp.

Intunes Machines

Int Harvester

International Nickel International Paper

Int Tel. & Tal.”“

John-Manville Co. Kansas C Power & Light Kennecott Copper Lockheed Aircraft Loews Incorp.... Lone Star Cement Co. Lowenstein & Sons, Mesabi Iron Corp. Minnesota Mining Mision Development Monsanto Chemical Co. Montgomery Ward Motoroln Inc. National Cash Iteg. “A National Dairy Prod. National Dellern National Lead ..... National Steel Corp. New York Central Olin Mathieson Ofis Elevators Owen-Illinois Glass Pacific Gas & Elec. Pacific Western Ou

Pan American Alewaya

Paramount Pictures

Parko 'Davis Co.

Penny J. C. Co. Penn. Bolt Co.

Pip Morri

Philips Pairclou Procter & Gamble Co. Pittsburgh Plate Glas Publieker Industries Pure Of..................... Radio Corporation Heo Blokori

Republic Steel

Reynolds Metai

Bhell Oil Co....

Saint Reg. Paper

Binclair bi

Socony Vacuum

South Porto Rico Sugar Boutier National Gas

Southern Railway (Com.)

Biandard Brands

Standard Oil of Cai Standard Oll of Ind.

Standard: Oil gt NJ, Binicaly-Van Camo.

Studebaker-Packard Corn, Bwift & Co.

TOKA Co. Tide Water Aim. Oli

wanty Century Fox Film' Union Carbide d

Union Paciße Railway

4. United Alcorat‡ ........

1.5. Grneum

U. Line Co.

3. UTI Rubber

2U.B. Emeltin

Warner. Bros.

Woolworth

BAO PAULD

Futures closings, in cruzeires per kilo were as follows:

Oct.

Dec.

Biar.

May

cotton

34.20 30.50

54.40

30.50

In the United

States, the average price of 15/16 middling at ten designated epot markets today was 33.42 cents. Sales at these centres totalled 7.795 bales.

Liverpool prices unavailable today. United Prem

מt

without drawing any 85

TODAY'S

SHARE PRICES

(From Our Correspondent)

Noon quotations and morning's tronections Hongkang Stock Exchange:

SHARES BUYERS SELLERS SALES

DANKS

the

the

IK Bank XD 1050 1000 East Asia... 2941

22 1080

INSURANCES

Jombard

Underwaters

SHIPPING

Asin Nav...

DOCKS, ETC.

Pr

13

K. Whart Dock Provident (OW) Wheelogk

LAND, ETC.

HK ilotal

HK Land Humphreys Realty

UTILITIES

Train

Star Ferry

2500

10.00 700 # 15.00 3.40 0.45 4000 62 0,43 16,500 0.40

1730 17.80 1000 ..7214 73

19.40

2.3715

Page 9.

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N, CO.

PASSENGER/FREIGHT SERVICE

Beaver London Dag Hongkong

Outwarde "CARTHAGE" Salled

"CORFU" "CANTON"

"CARTHAGE"

1st July

$711

Augrat

23 July

23rd

August

18th Septeniber

14th September 17th October

Via Southampton, Port Said, Aden, Bombay, Colombo. Penang & Singapors

Traven Wongkong Dus London

Jiomewards "CARTHAGE” 2011 July

"CORFU"

"CANTON"

27th August

23rd September

"CARTHAGE" 21st October

29th AuguFT

28th September

24th October

#ist November

Via Singapore, Penang, Colombo, Bombay, Aden, Port fald a London

FREIGHT SERVICE

"SINGAPORE" dar 23rd July from U.K.

loads 24th July for Kobe & Yokohama "SOMALI" load 27/28th July for S'pore, P. Bwetten- bam, Penang, Aden, Port Sald, Genoa Marcollies, Havre, Lon- don. Antwerp, Batter- dam & Hamburg

With liberty to call at Delawan before og after Straits Poris and at Bombay Laducement offers. Tanks avaliable for carriage of Oil in Balk. Space for refrigerated cargo, Limited Passenger accommodation

"SIRDHANA"

BRITISH INDIA 5.N. CO., LTD.

due 22nd July from Jupan salle 23rd Jidy for Singapore, Penang,

Rangoon & Catetta

from Calcutta, Rangoon & Straits

17.30 500 37.40

1000 W 19.40

"FULTALA”

..24.20 241; 2500 or [21.30

151 Y'a Ferry 121 129 1300 F 122 C. Light (0) 22.80 23 1002 @ 23.90 C. Light (N) 17,70 200 17.BO Electric 434

-

Telophone

INDUSTRIALS

Cement

Rope

STORES, ETC.

Dairy

Watson

44 3000 4332

4100 6 44 35 35% 1000 # 34

"SANGOLA", due 23th July Kalix 26th July

due

"OBRA"

7th Aug. walls 6th Aug.

for Kobe & Yokohame

trom Japan

for Singapore, Rangoon & Chittagong

P. & 0./B. I, JOINT SERVICE

due 2nd Aug. from Japan salis ard Aug. tor Singapore, Cochin. Karachi, Kasrah, Khor- ramshati & Kuwait from Japan

due 13th Aug. walls 14th Aug.

33 3314

500 750

"OKHLA"

13

JB 500 g 17.70

"ORMARA"

doe 17th A.

23.30 231 15.20

L. Crawford 39

COTTONS Textiles

zanyang...

...

0.15

11.70 1000 3.45

is

Yangtze ...

Allted

714 1.00 2000 @ 1.55 -1000 or 7,60 514 15.85 300) 2 5.80

Futures today closed 65 to 135 points higher with sales setting MISCELLANEOUS a new record of 550 lofs. equivalent to 12.551,006 pounds, алу The new trading high

The rend

MIXED BAG OF "CHIPS" "Blue Chip" Utilitles are mixed bug. These shares are the most susceptible to liquidation. being one of the leading groups and they and the "summit" more elusive to attain than 20 other. Trams at $24.40 are cents better on the week, Yau-

local markel followed the matis

betler. are $2 at $122

at London and Singapore 00 where prices ruled strong. The China Lights at $22.00 are cents better. Electrics at $44 are rise was attributed to statisties $1.50 better. These shares have showing world production of

תם

been helped by doubtful natural rubber behind consump- rumours that a bonus issue is tion.

All futures contracts at Now expected shortly. Telephones at $36% are 75 cents better. York again set new highs for

the In

industrials, Cements the season.

Spot No. 1 Res rose cent are $33 and show a loss of 75

the to 42 cents a pound, asked. the week, In cents stores, Dairy Farms, Watsons Futures:

September

42.70-00 and Lane Crawfords are better.

December Farms are up 60 cents lo $23.60, Farm

March Watsons arc $I beller at-

Mas July £15% and Lane Crawfords are

September bld $294 better on the buyers" 1953

$35, their highest price since

LONDON

Singapore

Stock Market

Singapore, July 22, Brokers today quoted the fol». lowing stock prices:

Opening Hatu Lintang Rubber Co., Ltd. $1.05 British Bornen Petroleum Syn-

for Singapore, Colombo, BOMBAY & Karachi from P, Gulf, Karachi & Bombay

malis 18th Aug. for Japan

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

"EASTERN"

"NANKIN"

Que 2nd Aug, from Australia

sails 4th Aug. for Japan due 19th Aug. from Japan sails 20th Aug. for Sandakan, Rabaul, Brisbane, Sydney, Mel- bourne & Adelalde

All vessels bave liberty to call at any porta on or off the route & the route & sailing 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.

41.10-00

diente

30/-

40.30

Consolidated Ti Smelters

30.00

Ord,

32/..

Fraser & Neave Ltd. Ord.

37.75

Fraser & Nenve Ltd. 715

cum. prof.

$0.35

Hongkong & Shanghal Bank-

Ing Corp..

$9331

spot

lb.

Kempas Ltd.

Hongkong Tin Ltd.

$1.67

Lines Stubber Estates Ltd.

$2,20

Malayan Breweries.............

$3.35

304-3011⁄2 | New Serandah Rubber Co.,

Lid

3012-3024

Peiling Tin Ltd, 3012-2014 Raffles Hotel

$1.55 $4.50 $2.30

EVERE

379-373

Stralis

Lidding

Singapore Cold Storage. 3314-255 South British Insurance Co.. 33-334

$20.00

129,30

$14,25

111.15

$2.73

China Mait

I spoke to brokers this week

The market was firm with These shares have now passed about Watsons. They think the quoted at 39% pence per the peak

established reason for the rise is that the Prices Price carlier this year and according shore is cheap at its present No 1 las spot

} Sottement house termit price and yielding well.

In-August vestors see the possibility of September better divideod next year. This October/December

January/March year has been much better for April/Jime the

of

30 now. Straits Steamship

30-3815 United Engineers Ord. 3714-374 Wearrie Bros.

and General markets, elf basis, poris; company, they say, speculation on the dividend is a July $1%. Prior to 1953 they paid t

September $3. Then it dropped to $2 and Estate crepe" last year they paid only $1.

Cottons have had a

quieter week after their sudden rise last weck and closed a shado

AN thick Aug. unquoted ⚫exdiv tcumdiy,

thain

unquoted Speelal. AMSTERDAM

DIT The marke! was very arm. New York Sugar

with Textiles at $0.15 ten cents Prices closed today in guilders lower and Nanyangs at $8.65. per kilogramme, CIF August as five cents lower.

follows:

No. 1 rubber No. 2 rubber

to all the records I can muster $1,005 is the best price

shica 1951. My records unfortunately go back no further.

Lombards, the third of this gilt-edged trio, has been selling at $57 during the week in fair c.g. one of 700, another of lots; 465. Yesterday buyers had re- duced their bids to $35 which them steady on the week, Icaves

WHEELOCKS ERRATIC Wheelocks: at the close business yesterday they showed a net rise on the week of 40

THANKS TO RUSSIA cents. The fret outstanding move

Rubber Trusts and Amalga No. 3 rubber they made this week was to rise

maleds. have been active with No. I crepe 25 cents in the morning call on

row Friday. By Monday they had ad-the

material prices in vanced to

to $9.60 and on Tuesday Singapore rising to a new peak they moved

$0.85 before of 131 Straits cents a lb yes- up to liquidation set in.

And then on Wednesday than last week but prices in both bear began spreading

cases closed higher with Amalga- stupid rumour that Wheelocks mateds at $25 and Trusts at had sold one of its ships to a $3.40. Shareholders can, thank bankrupt company In Japan.

Russian demand for Melayan The company promptly denied rubber for the improvement," New York

but the de prage Was Each week' I have tried

to Montreal done. A few buyers took fright give you some idea of feeling se and Wheelocka came tumbling in Ice House Street about

the Osio as far stockholm down to a low of $0.40 before short-term future; and London, July 21.

at as you and I are concerned, that West Marke recovering slightly to 39.55 Brilish Government honds Wednesday's close.

When the Zurich weck. means next 19% slumped today to a level just Yesterday they opened utgoing's good, brokers cannot |

three year lows $9.05 but found a hoppler level afford to be anything but bull- 73% above their

there ish for the record. If you know 100 while action elsewhere on the a few cents lower and

Exchange was ir they stayed. But brokers see high. this as only a temporary set- isuce at back. Their faith in a $12 peak

is undiminished,

of the Wheelocks

London Stock Market

34 London Stock 3gular with

Bat

Brilish only a

1dl the cloen were

few

10% ahillings above the low of The effect 601uesday-lowest since October rise earlier in the week was to

3.70 buyers 3.04 3.40 3.60

United Prekk

terday. Turnovers were lower London Foreign

Exchange

Amsterdam

Paris

London, July 21.

Market

New York, July 21. World No. 4 sugar futures closed today unchanged to 2 point higher with sales of 50 contracts.

Domestic No. 6 sugar futures remain unchanged with sales of 190 contracts.

A better Inquiry for world raws steadied the world futures market.

Domestle futures were quiet 2.7894-2.78-7/10

187 3.73-13/16-2.73-15:30 except for the pasting of

lots in the September delivery in jetuals, against business Futures:

20.00-20,00 973-073

them well enough they may New York Foreign

INE

EVERETT ORIENT LINE

Fast Regular Freight Refrigerator Passenger Service Loading for Blogapore, Penang, Bangoon, Calcutta and

Chittagong.

**ÉNEVERETT”

"REDEVELETT”

"NOREVERETT"

"URADEVERETT"

Arr. Aug.

2

Balle Aug.

-- Sept.

*

-- Sept.

3

8.

-- Sept. 23

-- Sept. 24

- Oct.

8

-- Oct.

Loading for Kobe, Osaka, Nagoya, Yokohama. "REBEVERETT”

*NOREVERETT"

"DHADEVERETT"

"LENEVERETT"

11 Aug. 21

Arr. Aug.

10

Lails Aug.

- Aug.

20

--- Sept.

7

-- Sept. 8

- Sept. 21

- Sept. 24

LIMITED PASSENGER ACCOMMODATION.

Au the above subject to alterailva without molies.

EVERETT

STAR LINE

FAKT - REGULAR FREIGHT REFRIGERATOR SERVICE Loading for Singapore, Part Sweitenham, Madras, Colombo, Bombay, Karachi & Persian Gulf Port.

"STAR DETRLOKUSE

10.00-10.61 130.25-130.273 2

14.3014-14.3072

12-0736-11,073,

Contract No. 4 (world)

12.154-12 13:4

United Press.

Sept. Oel. March, May

3.21

3.24

July

Sept.

· “STAR ARCTUBUS"

give you some inkling of their

"Į. real foeling by telling you: wouldn't buy this week. Wolt untill settles down."

Now no broker has sald that

But that is my own feeling. There are all the

Spat-fcents per ib, tob

Cuba)

"TBA"

Contract No. 6

Aug. Sept. Nov,

1.23.

unquoted

"RTAR ALCYONI**

1.50

England omeni

In-

50-day futures vo-day ful

New York, July 21, March

27-1/3 May 2.77-1118 Spot-femin per m, cit NY 2.70-11/10 ex-duty) --United Pren?

"STAR ARCTURES" **BAI"

8.50

"STAR: ALOTONE”

United · PrO2S

"LA".

"STAR BETELGRUSE"

War Loan reil 28, Dalion push Regis, Yangizes and to me yet.

ibe and fel Old Consola

Allieds

216

441

BI

somo

543 stocks 10.

of the hationaliti All these shares have indications that prices could con- proved by about 4 per cent in tinue to go higher, but I think In contrast all shares stood the last week. Realties $2.375 they've gone high enough for I wouldn't out on the upside with several inst Thursday were up to 32.575 te time being and dicaders touching new tops, Royal their tigliest prices for

401

10 be surprisedi to seo rather

18519 Dutch 1010 £44. British Petro- | months, Yangiszes have im- heavier pront-taking next weak

Soum nearly 20, both to poska, proved from 87:10 to $7.85 (their

hutne I say it's just my

Bit and Shell and Burmah im÷| best ever price) and Allleda own hunch. Let's set.

101 provod smaller amounts.

went from $8.50 to a top of Rolla $3.00 (their poak"

perplexing to some people. The

Among

Ingur la fever and Royce rose as "and" Ford Motors Abilling of more. The blue chips generally, now- aver, were aww poród: either | corripA **, | side of their previous charis

Farsigns were irregular with

#2, And Pola

Exchange

MESSAGERIES

MARITIMES

PO Box 33. Cueen ( Building Tel: 28831

Exchange Rates "CAMBODG)

"Busingen, weak done in the Jocal market this beeti mpening at the fallowing rates;

notes per

CHAROUN Filt week | unofficial wehango.

PASSENGER/FREIGHT SERVICE -

sailing Aug. 18th sailing Sept. 10th

SERVICE,

-sailing Aug. 18th

kallin Sept. 21st |

Am. Aug. 15

Sept. B

Sept. 20!!

Oct.

14

-- Nov.

Ball Aug. 10

Sept. B

Oct.

10

Nov

- Sept. 21

Loading for Kohe, 'Osaks, Nagoya, Yokohama.

Art. Aug...·

Bails Aug.

-- Aug. #

- Sept. 20

Oct.

Oct.

8 .J£

Avil? £8. Sept. Tim: Oct.

Nay,

IIMITED PARBENGER ACCOMMODATION,'

All the 'kbove, subždos in alteration withons pailes.

EVERETT STEAMSHIP CORPORATION S/A (Incorporated in the Republic of „Panama `wlih · Limited Liability); Chinese Departmenti Telephone 28293. Quen Buliding, Telephone 21206: