1955-07-29 — Page 9

TRADE and

THE CHINA MAIL, FRIDAY, JULY 29, 1955.

COMMERCE

SECTION

UPWARDS EVER UPWARDS

NEW YORK STOCK

MARKET

New York, July 28. Stocks turned down

around today with

[31

a few

leading issues attracting most of the attention

they reflected corporate de- velopments.

Bethlehem Steel was the big feature as traders adjusted their

Share Market

Rise To New

Prices

Peaks

HEAVY TURNOVERS AGAIN

By A Special Correspondent

Sensational new rises sent many shares to their highest levels for years as the buying spree continued on the Hongkong Stock Exchange this week.

1

TODAY'S SHARE PRICES (From Our Correspondent)

Noon quotations and the morning's

on the transactions Hongkong Stock Exchange.

AES DUYERS BELLEKS BALES

BANKS

*

JIK BANK XD 1005 1070

East Asia..

Union

67 0014

:..... 1004 Lombard... Underwriters 10 SHIPPING

The week's business again topped the $14 million mark and LANCES exraratineuse in advance of the yesterday's turnover of $4,520,000 must be one of the highest on record.

Profit-taking set in on yesterday's market in the afternoon call. But that was only natural with $2,300,000 worth of business marked down in the morning and with a number of shares showing a rise of almost $2 on the week,

bond meeting ths afternoon.

It sold as high as $158, up point; dropped to a low of $163

of for a loss

#2

well

Wall Street speglated or the possibilities of a stock split, then came up to $150, only 4 on the day as shuurtafifovored just before the cleang Bang.

Directores did vog order a split but declared a dividend of $1.75 a share, against $1.50 pold in the previous quarter and $2.25

dbe first quarter. The Company reported record ramings, pro- duction and shipments first half.

in the

BETHLEHEM $131 Following the announcement Bethlehem sold at $151 in West Coust markels.

Jones and Laughlin Steel ran up nearly 2 points on 's sharp- y higher earnings report and WINT one of the day's must Issues, topped ortly be Callahan Zine.

ere little Other steela changed.

Standard Oil (NJ) was on- other feature as it elimbed more than a point, then plummetted more than 4 pointe im profit- taking after a recond earnings amouncement and finolly came back a bit to finish with a net loss of almost 2 points.

Standard Out of California lust nearly 2

points us directors rdered the usual dividend.

General Motors was hit by record first realising after its

half report yesterday but pulled up at the close to finish nearly

A point higher.

Out of a total

truded, there were

1.180 issues

and only 200 higher.

617 lower

Trading was a light 2,090,000 shares compared with 2,170,000 yesterday.

Dow-Jones closing

WETI

30 industriala

20

tion

But the effect of the liquida- | These

slight Wis

could

the and overall virtues of being relatively "safe"

glyc Fossés

bo measured in and at the summe time small coins. Certainly my own reasonable yield. lunch last week was completely wrong

shures combine

д

but

visit

Others believe that the I'm afraid the mor- ket's performance this week has of the Secretary of State for the mettle to reassure me and Colonien, Mr Alan Lennox-Boyd I'm more convinced than over and all the kind things he's that there' have to be some been saying about our industries levelling cut soon, despite the and our potentiality for develop continuing tremendous demand.ment have had a salutary effect

What

caused

this

week's un the market. mc A this

activity? Brukera gave

of answers to variety question.

Some belleve that the heavy that have been remittances roming to the Colony in recent months are now finding their way on to the Stock Exchange in ever-increasing quantities. Brokers say and I belleve it indisputabile that the stock ex-

the change is

most lucrative

form of Investment in Hongkong at the moment.

Two Virtues

To support their theory that is now this overseas capitol

invested in the market being they point to the fact that "Blue Chip" Utilities have been week. the most favoured this

World Rubber

Markets

Singapore, July 20. The rubber market steadied on better overseas advices for short covering. There was some averages profit-taking at higher levels

the closing was nnd

460,40 Futures:

158.60 No.

06.60

160.09

1

rubber per

moro

cents. The current rumour is that Coniral Development Lid, the syndicate which bought the Hongkong and Shanghai Hotel's Pedder Street plot for $11 million last year is going to pay the $8.6 million balance owing immediately.

The

Hotel Company

the rumour

heard but they say have heard nothing

oficial.

Waterboat ..20 DOCKS, ETC.

K. Whart Dock

Provident (OK)

Wheelock

301875

00 @ 1679 8 330

20 g 3070

1500

20 BU A# 27.20

27.30

13003

200 68 27.00

300 GA MINH | 2500__6|18.60

.... 13/0 1800

.. 0.60 0.70 1200000

LAND, ETC.

Hotel

have too

HIK Lend Humphreys

(N) itality. RUBBER

Private Wire News

Still others

Any that speculators are about now.

The consensuN of opinion You will remember that under seems to be, however, that the the terms of the sale, the syn- recent diente pald down a first_instal- market has benefited in

largely

from weeks

what ment of $1.1 million last Decem- in termed as the unemployment ber, then paid another

Instal- in

Which means simply ment of $3.3 million last month. of funds," that there is much moncy in The final instalment had to be

lying paid tils Colony that is just

within two years of the serving date

the idle in various banks

of the signing of no useful purpose other than to agreement. earn the owner a small rate of interest.

has

B

...on

05 5000 as

40006 0.00 2000 4.63

10.80119,75 2600 gr 19.30

800 g 10.40

500 19.20 2700 10.00

1500 * 19.70

200 10.80

3250 10.70

300 1900

74 76 800 Tek

ál 2000 0o 01

20 là 1000 in CO

2.31

7000 16 2.650

A. Rumber #37)1⁄2 240 2450 65 (235 5000 240 B. Rumber. 25211⁄2 3.05 UTILITIES

Trom

23.30 23.70 250 @ 20.10

Star Ferry 154 Y'all Ferry

छ

2000 20.30

107 200 !

127

US SUGAR BILL

DEBATE

Washington, July 28

The House Rules Comm- mite todity reversed st -moll, med cleared legislation for House floor debate.

The rule granted will limit the sugar debate to ane hour and permit un- Hnited amendments to the the messure drafted by Agriculture Committee,

It was believed possible that Ilonan sotion might fake place on the messure tomorrow.---United Press,

PI Can Sell

Extra 20,000

Tons Sugar

The

London, July 20, International Sugar Council has granted the Philip pines an extra quota of 20,000 tons of sugur specially for ex- vort in 1955 to neighbouring countries in exchange for ricë, it was learned today.

Today's reported nction by the Council follows the request made last month by the Philip- pines Government for permis- ΠΟΤΕ

the tree to export to market 100,000 tons

ons of sugar outside the international sugar agreement allocation because of for the Philippines urgent need rice and lack of foreign ex- change with which to buy it,

On June 13 Mr Leon Guerrero,

Ambassador requested the working

executive

1660 320in

C. Light (0) 23.00 23.00 5900 23,00 2500 93.70

the af

P&O B.I. E&A

COMPANIES

·PENINSULAR › & ORIENTAL S.N, CO.

PASSENGER/FREIGHT SERVICE

Leaves London Due Hongkong Antted

Outwards "CORFU"

"CANTON"

"CARTHAGE"

"CORFU"

23rd Augint

17th August

14th September

10th September 17th October

12th Oclober"

10th November-

Via Southampton, Part said, Åden, Bombay, Colombo, Penang & Stagapara

Tiomewards "CORFU" "CANTÒN" "CARTHAGE" "CORPU"

270 August

Leaves Hongkong Bue Landen

*28th September 23rd September 24th October

21st October

21st November

18th November 19th December

Via Singapore, Penang, Colombo, Bombay, Aden,

Part Beld 4 London..

"SOMALI"

FREIGHT SERVICE

loads 29/30th July for S'pore. P. Swaften- ham, Pedang. Aden; Port Said, Солод Marseilles, Havre, Lon- don, Antwerp, Hotter- dam de Hamburg

"SINGAPORE” loads 13/14th Aug. for

same

- "SOMALI

porta

11

With Kerry to call at Belawan betors or after Strafta Ports and at Bombay it inducement ofera.. Tanks available for carriage of Oil In Bulk. Space for refrigerated cargo. Limited Passenger accommodation

BRITISH INDIA S.N. CO., LTD.

"FULTALA"

due

from Japan 7th Aug. safle 8th Aug. for Singapore, Hangoen

& Chillagong from Japani talis 19th Aug. for Singaporo, Penang

Rangoon & Calcutta due 23rd Aug. froin Calcutta, Rangoon & Straits Rails 24th Aug, for Kobe & Yokohama P. & O./B. I. JOINT SERVICE

"BANGOLA” due 13th Aug,

"SANTHIA"

com-

"OBRA"

C. Light (N) 18.60 15.70 3833 6 19.00 roup

1000 10.79mittee of the International Sugar Electrio ........... 434 4335 1200 or 4514 | Council, then meeting in London,

1000 es 455 195

to grant permission for the Mano Elec. 11:10 Telephone ..362 3714 8124 37 Philippinta to barter part of her 7000 37% sugar reserves to buy rice of INDUSTRIALS

which there was an acute short- Cement

341 343 3700 @ 24

1000 @ 34%age in the islands.----United Press. 1300345

..... 10:5

Cytwford 34

COTTONS

18

250 500

120 10.40 300 15.00

According to my private wire definite Information it is quite And now the Stock Exchange that the syndicate is planning

claimed the attention of to settle the bill

s much these people

that possible. I know one gentleman one Ice House Street friend told

the leave at

moment

Rope me yesterday: "People are going whe will be surprised. into the share market in

In the land section, Hongkong STONES, ETC.

Dairy ......00 24.00 bigger way than ever before,"

Lands are up 31% to $75, and

Watson Certainly this week's activity Humphreys are up $1.80 on last was not due to inward, remit week's buyer's bid of $10.20. In the Utilities both Stars and tances to any large extent, Be-Realties at $2,575 are steady. cause carn from my usually

Yaumatis

are

being influenced reliable source, that they have by a growing body of opinion only been moderate this week.

that Government will drop the Stars 1 said earlier that a number harbour tunnel scheme. of new shares had reached their are up $2 on the week to $155

and Yaumatis

up $4 to $120. highest levels for years.

They and

better Lights: 80 cents

on the include most of the Utility group together with shares like Untons, week at $23.70 and these shares Hongkong and Shanghai Hotels, are being influenced by the news and Lane Crawfords. But dethat the company mand on the whole has been provide electricity to Lentão, widespread and oli but two

is going to

Capital Call Up steady

1b.

130-1385 137-1372 tingtrated 13015-131

Nu. 3 rubber per ib. Aug. 121-124

shares show rises on the week.

To give you some iden of how much shares have risen in the

Textiles Norrang MISCELLANEOUS

Yangtze Allied

0.10 500 4M BIG 8.05

8.10 8.20 1000

64000

15 6

Singapore Stock Market

World Cotton

Markets

Liverpool, July 28. Cotton future closings, Ameri- 15/10 can cotton, middling, Inch, in pence per Jb. were as follows:

30.40

8655

July/Aug.

Oct/Nov.

Dec/Jan.

Mar/Apr.

May/Juing

Official values in spot, coltons fairly soared changed included:

today, Those

American mkidling American Ntrict low Mexican middling Nigerian NA

13.08

bild.

SAO PAULO

0/0 $1.7A

per kilo were as follows:

Oct.

Lunan Rubber Estates Maluyan Brewerien ... New Serandah Rubber Co. Petaling Tin

$2.27

Dae.

3330

Mar.

30.80

$1.00

May

$4.75t

or perhaps it!

Singapore Cold Storage South British Insurance described a Strolls Trading

Hames Hotel

$2.35

In

the

*$1.05

$20

$21.60

#14 411.19 $2,65

Singapore, July 29. The reasoning apparently goes

Brokers today quoted the fol- last few months here is a table that if this is so the company owing stock prices:

Issue

more shores. But

Opening showing some of the lowest may

$1.60 Tatu Lintang Rubber ..... kvels recorded this year cam-brokers point out that the com-

Borneo s has two million, $3 British

Petroleum pany

40/- Byndicate No. 4 rubber per ib. Aug. 1174-11pared with yesterday's prices.

contributing or partly pald

Consolidated TIA Smellers shares and if it wanted more

Ord.

316* $1,37 capital, it could raise $4 million Traser & Neave Ltd Ord. quickly and easily by calling up Fraser & Neave 75% cum.

34.65 the extra $2 on the cons.

Kangkong & Shanghal Bank 373 This is surely a much moro Hongkong Tin feasible possibility if in fact the Kempas company does need the capital. Another. Utility, Electrics (up to $454) are also under $114 Influence of

a rumour, of a Issue pending would be better

Futures today closed 19 to 30 with sales of 374

contracts.

Inits

15 utilities

August

'05 stocks

01.56

September

Comin. future price index

154.47

October

No,

rubber per lb. Aug.

CLOSING PRICES

But rubber unhaled

Alden Inc. Acy.

20% Blanket crepe

137-138 100-130

Low July 20

American Airline

No. 1 pale crepe

137-130%

X Banks

$1530 $1675

American, Cyanamic Co.

GO%

NEW YORK

Unions

#10

1025

Am. Mach. Fry

2152

Wheelocks

1.90

2.70

Am. Sugar Ref.

78

K Wharves

fi

Armico Strol

43

points higher

NK Docks

24

27.20

Halswin-Luna-Hani.

1416

Providents

1100

10.30

Bendix Aviation Corp.

489

Benguet Cons

136

Prices

Bethlehem Steel

1541

strength

closed on a note of after fluctuating

IK Hotela

[4.70

19.30

HK Lands

15

Humphreys

10.24

Boeing Airplane

672

HK Really

1.025

2.573

Borden (The) Co.

19.00

$3.10

Burroughs Add Machine

star Ferries

140

135

Case

I. Co.

167

103

120

C.1.T. Financini Corp.

400

China Lights

10.00

23.70

Cat. Tractor

3377

Celanese Corp.

24

29.23

37

02

23.30

13427

15.50

part.

18

67%

201

22415

62

13.30

16.50

4412

30

5.00

6.10

were looking

0.00

for Cements which are

bright

0.30

8.00

risen

fair

Chase Manhat. Bank

Chrysler Motors

Colgate-Palmolive Co.

Creillt

wealth Elec

Continental Oll of Del.

Crane Co.

Crown Zollerbach

Diamond Alkali

Dow Chemicals

El Paso National Gas

Erle Railroad

Family Finance Corp.

General Motors

Gen. Pub. Util.

Glidden Co.

Goodrich (D, F.) Co. Heyden Chemical

Homstake Mining Co. Ingersoll-stand

Inland Steel Co.

Interchemical Corp. International Paper John-Manville Co. Kansas C. Power & Light Liggott Meyers Tob, Co, Louisville & Nashville R. Lowenstein & Sons.

Mesabi Iron Corp. Minnesota Mining

National Steel Corp.

40

erratically over

a range of al-

most two cents a pound. After

Tran

a mid-session setback, attributed Youmat mшinly to

clling,

commission

the market

house TX Electries snapped ik. Telephones back briskly toward the cloac Cements

on persistent dealer buying and speculative

ive covering.

Technicians sald

dealera

HK Ropes

Dairy FarmS

"noor"

Wations Lane Crawforda

Allied Inv.

4291 pricea looked altractive to Yangtze Fin.

who pointed out that Texille Corp BILY 422 rubber from Singapore, laid Nanyangs 564 down

would cost around

This gives you a pretty 531

cents a pound. 47

At on Idea of how shares have 2472 time December contracts were 13422 almost six cents a pound under this year.

37 that price.

The spot market however, continued low with small sales reported on Aug. one sherts at a pound spot R53 573% $31⁄2 cents

were quoted 43 cents. Futures: 0914

783

Sept. Dec.

Mar.

May

July

LONDON

44.30

42.20 41.30 40.20

The market was easier. Spot No. 1 Res were quoted at 304

Maton Development

Motorola Inc.

National Dairy

43

52 pence per lb. Prices

Settlement house term:

Bept,

Olin Matitlemen

014

Oct.

Owen-Illinois Glass

127

Ost./Dec.

Pia Western Oil

44%

Jan/Mar

Parke Davis Co.

APT/JNEG

Penny J.C. Co.

General markets, clf basis, paris:

Penn. Balt Co.

BOV

Aug.

Philip Morris ..

Procter & Gamble Co.

Pittsburgh Piste Glass

Punicker Industries

100%

10%

Pure Ou

Reynolda Metal

Bhail Oil Co.

Saint Reg. Parker"

Bouthern Nationant Gas

Southern Railway (Com))

Atokely-Van Cemp,

Btudebaker-Packard Corp. Tide Water Ann Oil Twenty Century Fox Film Us. Le Co West Va. Pulp & Paper

45%

wishful thinking on somebody's Siralls Stearnailp

United Engineers Ord.

Cements have recovered from Wine Saturday July 31 and Mon last week's slump. On Thursday August 1, China Mait Special day last they

rather pathetic at $32-unusual

13

Closed

exdiv. † cd.

and effervescent rule New York Sugar

Yesterday they were selling at between $32% and 34.

Market

.

Futures closings, in cruzeiros

the United States, Everage price of 15/16 middling at ten designated spoil marketā was unavailable, Sales at nine of these markets totalled 15,207 bales..

Now York and New Orleins cotton prices were unavailable.

United Press,

London Stock Market

}

I understand that the reason for their fall was that semo big

New York, July 28, were the last holders

selling rather As the figures in

World No. 4 sugar futures heavily, Dumping was the word column of the table ore yester used by one broker. Now it has closed today 1 point lower to 2 day's closing rates, there is no

1s rather points higher with sales of 12

London, July 28. point in going through each and plopped and scrip

So they are going up contracts.

British Government every share detailing the extent acarce.

bonda of their rise this week. There again.

Domestic No. 6 sugar futures continued, strong a generally are a few, however, that deserve

closed unchanged to 1 point low-narrow and irregular market on special mention.

or with sales of 120 contracts. the London Exchange today. Banks,

instance: these

Yangtze Finance and Allied

Both markets continued quiet dropped to a low shares

develop- are both better with Yangteze pending raw market $1350 this week largely In sympathy with London rates, about 40 cents up at $8.10 andments and Washington news on

Allied 10 cents better at $6. the controversial Bugar The London market was affected Yangtaze's dividend is due coon

rovision bill. Futures:

A Higher Dividend?

of!

quota

for

By the Chancellor of the Ex- and as it is a subsidiary hold Contract No. 4 (world) chequer, Mr R. A. Butler's new

provide

it may 3034-4014

to combat inflation ining company moves 334-202

to the Wheelocks 30-30 Britain and Banks suffered in some pointer

Wyldend. 3712-3744 consequence.

Cottons have been about the But with the general shortage

only shares to lag this week. 31/3 of scrip the shares began climb Both Textiles and Nanyangs are Bepit.

2015-2016 ing on Wednesday and yeater below last week's rates, Textiles Oct.

384-30-14

day closed

at $1875 with buyers 10 cents lower. at $0.05, and Estato crepe thick Aug. 3014

other unsatisfied. The

"git Nanyang five cents unquoted

lower st thin

is AMSTERDAM

vdged Union Insurance

steady on last week's $0.00 The market was steady. Prices roughly

Rubber shares have again cloned today in guilders per kilo buyer's rate,

heen

quite

the activo with gramme, cif Aug as follows: Wheelocks: this report would Singapore raw material price up

3.08 paid bo Incomplete without

some from 131% to 138 Strafta çents 380 paid mention of this share. It has a 16. Truste sold this week at 3.00 m. HIS

slowly this $3.575 which la about 20 cents 3.78 nam, been creeping up.

181 No..

rubber

30

No. 1 rubber

No. 3 rubber No, I Crepe

United Prem.

Exchange Rates'

United Press. week from $0.30 to $9.70 higher and Amalgamateds' at

and Jr It carlinues et the $2.370 which in roughly present rate it should be $10 cents better.

New York Foreign before tong

Wharves bre up $3 this week

More Rises

121⁄2

September

JX10100

March ...

May

·July Suptember October

Gains in the gilt-edged ranged to £1% in Old Consols, El in Daltons and £% in. Wir Loan but did not spread throughout the rest of the list.

Among blue chips there was 327 more selling than buylay but declines were nearly all ders than a shilling, Rolls-Royce, arí exception, lost 29. 04.

Book--(cents per lb. rob Cube) 322 Contract No. 6

September

November

March

May Spot-cents per ib, me

"ex-duty)

64

6.55

*****United Prem.

Olla ako lended lower with Foyal Dutch off.

bonds, .foreign Among Japanese rose £15 while most Gormans declined. Young Loan, however, rose, El-Unitat Press.

“OKHLA”

"ORMARÁ"

que 2nd Aug, anlis 3rd Aug.

duo 13th Aug. soils 14th Aug.

due ist Aug.

`maijs 22nd Aug.

ramshahr & Kuwait from Japan for Bingapore,, Cochin, Karachi, arah, Khor from Japan

for Singapore, Colombo, BOMBAY & Karachi from P. Gulf, Karachi * Bombay For Japan

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

"EASTERN"

"NANKINTM*

from Australia duo 4th Aug, salle 8th Aug.“fot Japan

load 20th Aug. for Bandakan, Rabaut,

Brisbane, Sydney, Mel bourne de Adetaldo

All vessels have liberty to call ni any parts 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.

EVERETT

EVERETT ORIENT LINE

Fast Berntar Freight. Hetrigerator Passenger Service Loading for Singapore, Penang. Hangoon, Calcutta and chittagong.

*LENFVELETT**

“REBEVERETT"

"NOREVERETT”

* "DRADEVERETT”

Arr. Aug. ง 7 Septe

Balls Aug. 3

-- Best G

- Sept. 27 ~~ Oct.

Sept. 28

9

Oct. 10,

Arr: Aug. 10

Salle Aug. 11

-- Aug. 30

Aug. 31

Sept. 21

Sept. 12

Loading for Kobe, Otaks, Nagoya, Xokohama.

"REAKVEREIT” (

**NORZYKREFT"

"BRADEVERETT”

· “LENEVERETT

Sept. managing thing -Sept. 26

LIMITED PASSENGER ACCOMMODATION.

All the above subject to alteration without notice.

EVERETT

STAR LINE

VAST REGULAR FREIGHT REFRIGERATOR SERVICE Loading for Singapore, Fort dwuttonkami, Madens,

#ITAR BETELGEUSE" -"ITAR ARCTURUS“

BAT"

Khading for Kebe, Omka, Nagoya, Yakobama.".

Arr. Aug. 15 Bal

"BFAR ALCTOKE" " "LAOK

Bapt. Bept. 23 *.,- Opt. -- Nov.

Sept

17

Oct,

Nov.

¡FITAR ARCTURUE"

Arr. Aug. 12

PETAR: ALCIONE“.

Sept '**:

Oct.11 Oc

"STAM BETELAEUBEN A D¢#1

QUE LIMITED, FASSENGER

NOT

PATION.

EVERITT STEAMSHIP CORPORA

ION.S/A

sailing Aug. 18th sailing Sept. 10th

FAST

SERVICE

MessageRIES MARITIMES

P.O. Box 53 K Queen'" Building FTY720681,

10 ·977 following tho - general

FAST PASSENGER/FREIGHT SERVICE market riso and another good So that's the market for this "CAMBODGE" gainer in the dock section weck. And next week's trend?«LAOS China Provident which hine Everyone seems to think it will Foreign exchange rates closed climbed from $18.00 to $10.50 continue to go higher. malout M

Every argol because it is yielding one, that is, but your special the company's correstondent - who, incidentally Brossmcte für fhir yosh kru food, is not a broker, but an outsido

Hotels this wosle leapt from observer with a purely academia "DONAI" #17.30 16, $19.40 before?" pronte, and silas no financial interest ⠀ in "MBINJAM”

aking out back the pins by 30 the inarlont, &

Exchange

New York, July 20..

today as follows:

30-day Qutures .. 93ədir futures ..

3340 | New: Bestard 180 | South). Africa

Business “was done in the Soont

exchange roomming, at the following GAINED

Bleeding noten (per 21 Dydonesian, rupnih" (per 100)..

deschuldbee" 100% Indo-Ctaka. plastres (per 100)

iling Aug. 16th calling, Hept. 21st

i