1955-08-19 — Page 9

THE CHINA MAIL,

FRIDAY, AUGUST 19, 1955.

Page

TRADE and

COMMERCE SECTION

SHARE MARKET BRIGHTENS UP

A Number Of Issues Make Up Lost Ground

TURNOVER DROPS SHARPLY

By A Special Correspondent

At the close of trading yesterday-the third successive day of firmness, the Hongkong share market appeared to be recovering from the shock it received a fortnight ago when the "Big Three" banks announced increases in their borrowing rates.

I would hesitate to say that a full recovery is now assured but yesterday afternoon the undertone certainly appeared more stable than at any time during the last two weeks.

And a number of shares have made up a lot of ground-in the majority of cases about half their total losses. They now stand about eight to 10 per cent below their late highs; some a little more and some less.

COPPER PRICE

INCREASED

Toronio, Aug. 18. International Nickel Company of Cainda, Lidl, today ralaed Its price for domestic

copper

How will the banks view this? rates Full kaves a gap of $191 As far as they were concerned between the two. But after the share boum was only a deducting £2 stamp duty and. symptom of the malady they other charges which you have to rought to cure; and their action pay for London registers the less to stop prices difference would be reduced to was taken

About rising than to curb the somewhat

$140. rampant speculation which, they felt, was the root cause of the share market spiral.

If this process continues there is bound to be more local register scrip on the market and prices But as 1 pobited out last week will probably came down further, is Impassible to judge how The market was weak on Fri-

action has been day and Monday but late purely from an analysis of recent Tuesday's murning call there was of buying in- price trends.

tells less a small revival

cffective this four

cents to 30 conta Pound (Canadian funds).

The action followed a imilar Increase by US producers and custom!! smelters

ta yesterday лек basis of 40 cents a the highest price

pound,

In

the US market since 1872.-United Press.

than half the story. The more terest. And happily It had

(211

011

CEYLON TEA||New York Stock

Market Prices

PRICES STATIC

Colombo, Aut. 18. The price of tea is un- likely to advance further scoording 10 Colombo's loading ted ofolals who bellove that despite the strong demand from Aus- tralia the price wil

main static, it was learn- ed today.

The increased quantity of few reacliing the market le the catase for the statio price.

The quantity, particular-

ly mediums, is expected to have a ready male an Aus- tralia has

entered the market after an

absence

of several months.—United Preas.

TODAY'S

SHARE PRICES

(From Our Correspondent) Business done on the Hong kung Stock Exchange thi morning amounted to $600,000

quotations Noon

New York, Aug. 18.

Rail stocks, spark-plugs of yesterday's late rally, turned in the best performance again today, but the rise was newsworthy only in contrast with the rest of a very dull market.

!

after

risé etnouncemant,

Balls gained 0.60 on average. ure before the year-end but it lifted by guins of around a point | held only point of the rise. in Atlantic Coast Line, Louis- There was profi-taking in ville and Nashville and Illinois recently strong coppers

There Central

was little real the prico demand, a

a situation that pre-Losser ranged to nearly 2 points valled throughout the entire list, in Konpedt. keeping trading at the slow pace of recent sessions as trailers hesliated in the absence of new market indueners.

Turnover amounted to 1,100,000 shares.

This

Jack of enthusiasm TE- flected in the number of issues traded-only 1,095, smallert since Jan. 12, 1934. They were almost even balanced with 430 higher, 400 lower.

Steels were

were mixed,

P&O B.I. E&A

COMPANIES.

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/Freight servICE

Leaves London De tiongkong

Batled

Outwards

"CONFU" "CANTON"

"CARTHAGE"

"CONFU"

14th September.

10th October

3rd Aprust

10 September

17th October

14th November

Via Southampton, Port Said, Aden, Bombay, Colomba, Penang & Singapore

Leaves Ilongkong Due London

Homewards

27th August

"CORFU”** "CANTON" "CARTHAGE" "CONFU"

26th September 23rd September 24th October

21st October 21st November 101 November 19th December

Via Sinkspare, Penang, Colombo, Bombay, Aden, Portalda London Also call at Malta.

"SUNAT""

"SURAT"

and Olis

New York Stock Exchange bond volume was $2,030,000.

Ameriena

Stoel: Exchange volume was B10,000 shares.

Duw-Jones closing averages

were:

30 Industriais

20 ralle

18 utilities

Industrials as a group aver- age 0.32 lower, with numerous

CLOSING PRICES small declines

Allied Chemicals outweighting a

Altin Chainers rise of 2% points in

Inter-American Airline' national Nickel.

FREIGHT SERVICE

dile 4th Sept. from UK. vin Straits loads 8th Sept. Far Japan loads 28th Sept. for S'pore. P. Swelten- ham, Penang, Colombo, Aden, Port Said, Genos

hiarellies, -ilavrs, Lon- don, Antwerp, Bottar- dam & Hamburg

"SHILLONG" due

28th Sept, from U.. via Strells joada 27th Sept. for Japan

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

452 53

154,75

63 storks 40 bosde

103.72

18.20

Comm. future price index

101.01

$10524

707 2411

"SANTHIA"

50%

"WABORA”

""SANTHIA”

American, Cyanamke Co. Ain. Mach. & dry American Metal American melting Am. Sugar Hel. American Toh." American Tel & Tel Anaconda Copper Are Steel

A few speelal issues reflected individual developments-Under- wood which ran-up nearly 2 points on an increased dividend and Juilus Kayser witich fell more than a point on realising after a merger announcement. Douglas Baldwin-t.line-liam. morning's transactions

Aircraft ran up sharply in curly Baltimore & Ohlo SHARES BUYERS SELLERS SALES trading on indications the firm Bendix Aviation Corp.

Benguet Cons. may be in line for heavy orders Dethlehem Sterl for jet planes for commercial | Boeing Airplane,

BANKS

1K Bank. 1730 1745 INSURANCES

Ulitur

ون

1040

10.30

and

Dock ..... 23.020.70 600

the

.....

Lombard...

That

Underwriters

DOCKS, ETC,

important pointer Turnover which

is

the daily contagious the barometer

2010

of investment volume.

Unions have

IL

steady now recovered and show not yet loss of $25 since last Thursday.

500 K 20.30

Provident

M

(Oil) Wheelock

..

.... HGVTD

8.00 0.00 1000 ke

LAND, ETC.

fell last week from overa

$14 million to about $10 million Wheelocks, $9.10 last Thurs- and this week it is down to less day fell to a low of $8.20 but than $7 million.

A Wide Berth

Furthermore

up to close firm at $8.00 picked yesterday.

Wharves which sold at $7512

·

from one pro-last week have held firm at a

minent broker 1 Jearn that lower buyer's bid of $73% with-

World Cotton people are buying only in small out attracting spier this week.

Markets

New York, Aug. 16. Cotton prices 10day showed an the overtone of steadiess as market vintinued to fluctuate narrowly in quiet dealings,

Main Interest centred in the nearby October delivery. Ho lative firmness the spot month in acted to check sagging tendent eies in later months,

quantities now and that if a big comes on the parcel of shares

Docks at $271⁄2 buyers are 50 cents better. Providents are also harket, it lakes quite few 30 cents better al $16 but they days to dispose of it.

have been as low as $15 this

And the vally big operators { week, have given Ive House Street a wide berth.

Now-ngala

Lands Better Hotels at $104 from the banks'

are 30 cents Lands piter up on the weak. may be a point of view this good sim so long as it is not just falling to $71 have picked up to a wmparary resetion, so long as $73 and are therefore $1 better turnovers do not go soaring back than last Thursday's rate. Real- to $3 and $4 million a day as ties are up fractionally on the Exxon as speculators recover from week to $2.275. their fright,

Dut I say this strictly as

Trams, which

announced on a unchanged interim dividend of

Spot menth covering followed neutrol knowing what the banks 40 couts last Friday, cased news of a further skarp reduce to achieve by their action. from $25 to $21.30 but gained tion in the certifiented stock. The turnovers show that the 30 cents to close at $24.60. Colton

for contraet # available

people hardest hit by it were not

Stars closed at buyers $145 ex which makes delivery dropped to 38,19 bals, the smoli investors (whose sures a $3.50 dividend a reduction of 9.250 bules from have been slightly and certainly them 50 cents down on the week the previous report

only temporarily devalued) but but $2.60 up on Monday's low. cumulative

drop of 25,034 bales the brokers, and I would be the

Yaumatis are $2 down on the since Aug. 1.

inst to gloat over their mis-week at $117 but $4 up on their Closing around best levels for forture. As for the speculators, low of $113. They wanged on the day the list was up 2 to 14 they shot

should know the risks of Tuesday morning as a result of points. The market opened up gambling.

dangerous speculation 1 to off 3 points. New Orleans I don't believe for

Chineze moment

afternoon ກ closed up & to 14 points

that transfers and remittances to Trading volume unit open

Southcast Asia the harbour tunnel plan. interest in the Exchange today will stop as a res

stop as a result of the banks' paper went to press with banner I don't think the "Big headlines, a longish story and a tire trying to stop this map showing what purported to influx

weze!

Mani

Outuber

December

Merch

May

July

October

Volume 18,200 17,400

Open, interest

334,300 743,500

127,000 360,400

10,700

13,000

1,000

123,00)

5,000

223,400

December

500

23.400

Total

70.500 2,150,000 baJES

NEW YORK

was not mis-used to the detri- ment of our economy.

by

པ.

newspaper

10*400 or 1 BLDG.

£20 2500 (0.85

HIK (lotel.. 19.30 19.70 1000 10,50 1000 KA 10 EN

RK Land TZ!L

3500 5o 10,50 73 200 T

500 200 73

Humphrey's Really RUBSET

20.00

23216

1000 2.36 A. Rubber . 2.13 2.20 6000 2.15 0000 @ 2.17% Trust ..... 3.028 3.15 4000 3.08 UTILITIES

Train

..... 244024 8U Star Ferry, 145

London Stock Market

London, Aug. 18. Stocks slid again today

in bull trading.

However,

by, closing time bargain hunters had crept back into the market, and steadied it somehow.

Armour

Borden (The) Co

Burroughs Add Menino

Canadian Paclar R.

Caso J. Co.

|G. 1. 1. Financial Corp.

Cat. Tractor

Celanese Corn,

Chapo Maniet. Dank

Chile Copper Chrysler Motor Colgate-Palmolive Co. Commercial Credli Cominonwealth Elbe. Consolidated Edison Continental Oll of Del. Cantinental Steel Corn Products ·

Crate Co Crown Zefferbach Curtis Wright

Cuban Amer. Sugar

Dow Chemicals

Dupont de Nemours Eastman Kodak

Paso National Ga Erle Railrond... Family Finance Corp.

Blue chip industrials got the nod and several, including Im- perial Chemicals and Great Yma Ferry 117 120 100 4 140 Universal Stores, inched aheadererni Electric

100

110

210 120 on

30 318

C. Light (0) 22.30 23.10 (33 de 20 200053

C. Light (N) 17.76

10

10

fractionally,

But the selective strength failed to carry the list and olse.

small where

declines соттол. Rolls-Royce slipped 2 6d.

were

100 e 23.10 600 10 600 40 17.00 100 Electric

42 600 42 .... 4215.

Copper shares ignored the Macno Ele 11.70 500 14.40 boost in the American price, Telephone. 324 3314 500 ve 33

but pleked up a little on the 2000 33

record London quotation for the 34.80 metui.

INDUSTȚIALS

6.30

13.60

Wats rawford COTTONS" Textiles MISCELLANEOUS

Yangleze.. 7.05 $2000 7 1.95 Ailled ...... 4.05 5.00 2000 5.70

2009 60

demand was fair

for British Petroleum and Canadian Eagle

Traders shunned Government bonds and prices dipped between one and two points.

Gold shares drified pennics lower, Foreign bonds also fell. aff on scattered selling. German and Japanese lens were off a point,

General Foods

| General Motors

Gen. Pub, UL.

Gulette Safety Razor Glidden Co.... Goodrich (B.F.) Co. doodyear Tire Heyden Chemical

Homstake Mining Co. Ingersoll-Rand Ingersol-Rand

Inland Steel Co. Te int: Harvestor Int) Business Machina Cement.... 33. 33% 600

International Micke src',

Rope

Oils were quiet, unable 'n International Paper Dalry 23.70 22 90 300 22.70 most chiges to shake off uncerti Tet Tel

John-Manville Co. 1000 22.60 tainty plaguing them all this Kanans C. Power & Light

week, 132 6 37 Eurmal, had revived and there Liggett Meyers Tob, Co.

By the close, however, Kennecuti Copper Lockheed, Aircraft Loews Incorp, ... Lone Star Cament Co. Louisville & Nashville n. Lowenstein & Sons. Mesabi Iron 'Corp. Minnesota Mining Miulen, Development Monsanto Chemical Co. Motoroin luc.. Montgomery Ward Natonal Cash Reg. "A" National Dairy Prod, National Distillers National Lead National Steel Corp. New York Central din Maulicson Otis Elevators Owen-Ilinols Class Pacific Gas & Elce. Pacifle Western Oil Pan American Airways Paramount Pictures Parke Davin Co. Penny J. C. Co. Penn. Sall Co.

that Government, had accepte World Rubber

This

130 to

Markets

170 points lower with

New York, Aug. 18. of capital; they were be the plan of our new tunnel, simply trying to ensure that it Sighs of Relief Rubber futures closed today

Some friends of mine who were sales of 433 contracts.

in the con- holding Youmatls

Dealers reported a nervous fident belief that Government And as there is still plenty of would turn down the plan went fluation in the epot market with of futures closed today money here for investment and quite pale at the news but it buyers and seller showing ex-

as share yields are more attrac- turned out that

following the ever Live than

as follows:

Spot

Oct.

Dec.

Mar.

May

July

Oct.

Dec.

13.04 33.00

13.60

33.00

23.03

ELAG

12.30

Plenty of Money

taken

Dollar stocks, heartened by Wall Street rally late yesterday held Arm.-Unlied Press.

New York Sugar Market

tra caution. Reported sales in- the map was Abercrombie from the

Dezember onks at 434 cents, Later, December will find its way into the share part of the story contained the market in due course. Perhaps advice which Sir Patrick Aber-ones were offered at 43 cents à were No. 1 Soot Ras cromble gave

to later rather than

Government pouurd. sooner then

quoted at 40 cents, The volume of business should seven years ago.

Futures: South When back to the level of $2%

China ercep

Sept. Prices of futures closed today milion a day-unless there are Morning Post carried an official

Dec. as follows:

any further anti-inflation moves. denial of the story the next day Mar.

An Interesting feature of this you could almost hear the sighs week's trading was that of the of relief in Ice House Street. total weekly turnover of $7.4 China Lights, $22.80 lost week million, dealings

recent slump i think this money/Report of 1948 and the greater Sept, one sheets at 41% closed today unchanged to 2 Philip Morris

NEW ORLEANS

as follows:

Dec/Jan,

Mar/Apr.

33.70

33.94-06

X190

33.70

31B7

93.04

22,37

halt Take a look

the

July

Bep1,

44.30

42.60

40.20 39.19

New York, Aug, 18. World. No.

4 sugar futures points Higher with sales of 284 contracts,

Domestic, No. 6 sugar futures closed unchanged to 6 points higher with sales of 200 conftadio Corporation tracts.

Reo Motors

Evening up operations in the 43.70-75 September delivery dominated

the trade in both contracte.

In world raws, Chile was the accredited buyer of 10,000 tons:

pound, from Peru at 3,19 cents tob, and was believed interested in buying additional quantities

LONDON The market turned arm to-

at a later date. Futures: +

Contract No. 4 (world) - Beut.

Spot

Oct.

Dec.

Mar.

May

July

Oct.

Deo.

LIVERPOOL. Future etosings,

Oct/Nov.

31.57

JAB

May/June

July/Aug.

Oct.

33.09

Duc.

34.70

an

Múr.

34.00

Friday's up process under way }

to narrow the wide gap between

31 sales of middling, in pence per lb, were totalling more than 8,000 shares better than Tuesday's lo y Dut

and SLX Bales of Telephones $41. Telephones closed steady totalling more than 6,000 shares. on the week at $38 and $1 up on

3714-3734 Apr./June

351-03 Τσιν, 28.70-70 These plus the sole of 44 Banks Tuesday's

General marketa eit basis, portaj 20.33

Coments. up $012,500 of the $1,010,000 made

BEL BLA onts. lost a dollar in the Sept," 20.00

38-30 turnover.

carller part of the week to $32 Dec. BAO TAULO

Banks deserve a comment this but picked up splendidly to close rubber priods were not avail- Singapore and Amsterdam Futures, cruzeiros per kilo

week: I mentioned in last at $54. Dairy Farms also lost $1

able-United Press. wtre as follows:

tolumn that there was to $22, but closed at $22.10.

Soreno Confidence

Banks, Sagged la $21 on Tuesday's day. Spot closed at 40 penco Electrics and Telephones absorb-morning call but brightened upper b. No. 1 Iss spot were 34,00 od about

| 39-40. Electrics are down $1% on the yesterday's business for exok at to close firm at $23.10.

Settlement house term: American there we

week to $42 but they are 78 cents seal.

391-40

Dol./Dec.

Jan./Mor.

Och Mar

July

១ ១

Sept.

Spotcents per ib. fab

Cuba)"

Contract No. 0

3.20

Sept. Ναν Mor May

$.89

..

6.30

3.400

Bpot-conte per ib. cif

NY ex-duty

d.50 Press:

May

34.00

July

34.00

the price of London and local

-United Press.

| Biyesporu (diretta)]

18.00

1700

Phillon Petroleum Procter & Gamble Co. Pittsburgh Plate Clats Publieker Industries Puro Oli

Republic Steel". Reynolda Metal shell Oli Co..... Baint Reg. Paper Bouth Porto Rico Sugar Bouthem National Gas Boullem Raliway (Com.) Blandard Brand Strudard of Col

Standard Oil of Ind stendam Dil of NJ,

Biokoly Van Carop Biudebaker-Packard Corp. Swift & Co.

Texas Co

This Water Asks. Oil

Twanty Centjury Fox Film Union Carbide)

Union Pacife Raliway

United Aircraft

បួន,

Gyplum

U, S. Line Co.

V.B. Rubber

V.8. Amelting

VS. Sted

Warner Bros,

Wemtinghouse riedučia

Wor) Va. Puls dr, Paper: Woolworth

London Foreign

Exchange

New York Montreal Amatordam

Copenhagenh

London, Aug. 10.

178-11/10

6.80%

ted Press,

Lane Crawfords remain com-

Exchange Rates

Sterling nobel (per 21

startow

roghter shares. I mentioned too pletely Indifferent to the petions Basinyone was done in the local that people were selling their of bulls, bears and banks andumonial exchange Hongkong registers and buying look screnely confident at $18. |mornique, at the tollowing esteri Londons which were then about Yangistes at 37.90 buyors havedador (per #1) $200 cheaper; or to put it and ben quiet and virtually motion-Australian nie ( other way you could get to less this week while Alllede have indonesian rupiahi (per 100)" London-registors for overy nine alied ton cents to close the week imenis portiod) les local shares you sold....

Once upon a time últe disparity Textiles are 10 cents tower at was only $50+$30.

$6.40 Banks Fall $65 2:

at $1.70.

MESSAGERIES

MARITIMES

• P.O." Box 13' Queen's Building 10. Taka 2003). FAST, FASSENGER/FREIGHT SERVICE

and Nanyangente New York Foreign "VIETNAM"

unchanged at $8,00,000

Rubber price in Singapore This work Banka (local have suffered further losses. register) show a net fall of sea Telterday - the prize was 18914 on the work to 01725 while Busila omite se to which li tätos Londonsaw down as roughly cwiliadower) or the WAKE BIG 221-10-0 (824) to £98% buma rabids titres have” ideed down (31644) 'which on orbent market Enervinowthy

Blockholm Frakturi

Indo-China

plastres" (per 100)

"LAOS"

Exchange

sailing Sept. 10th Bailing Oct.

FAST FREIGHT SERVICE

DONAI KUMPINAMU

9 Falling Aug. 19th #kiling Bept, Sist

BRITISH INDIA S.N. CO., LTD.

due: 2rd Aug. from Calcutta, Rangoon -& Strails #aile 24h Aug. tor Kobe & Yokohama duc 7th Sept. from Japan

all 8th Sept. for Singapore, Rangoon

Be Chittagong due 13 Sept.

from Japan

lis 14th Sept. for Singapore, Penang

Rangoon & Calcutta

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

"ORMARA”

"OZARDA"

"ITOLA"

+

Que 22nd Aug, from P. Gulf, Karachi

& Bombay

nails 23rd Aug. for Japan

due 23th Aug. from Karachi & Bombay ails 29th Alik. for Japon due 1h Sept. from Japan

ailih Sept. for Singapore, Madras,

Karachi, Bhavnagar, Bagrah, Abadan. Khor ramshahr & Kuwait

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

"NANKIN"

"ARAFURA"

"EASTERN"

loads 20th Aug for Sandakan, Rabaul,

Brisbane, Sydney, Mel- bourne & Adelaide

due and Sept, from Australia lords 4th Sept. fur Japan load. Wh Sept. for Sandakan, Rabaul,

Brisbane, Sydney, Mel bourne & Adelaide

All vessels have liberty to call at any poris on or off the route & the route & sailing are subject to change or amendment with or without notice.

For full particulars apply to 1- 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,' Hangóon, Calcutta and chittagong.

"REDSVERETT

"NOREVERETT“.

"DRADEVERETT“

"LENEVERETT

Arr. Sopt. 11

Baile Sept. 12

Oct.

2

- Oct..

3

Oct.

13

Oct.

14

-- Oct

24

Oct. 21

Arr. Sept.

4

Salls Bept.

- Bept. 20

Sept. 10 Sep!. 25

-- Sept.

3

Loading for Kobe, Osaka, Nagoya, Yokohamaa

"NOREVERETT”

"BRADEVERETT"

"LENEVERETT" "REDEVERETT"

Bopt. 15

* Nov. LIMITED PASSENDER ACCOMMODATION

All the above subjets to alleration without notice,

EVERETT STAR LINE

FAST REGULAR FREIGHT REFRIGERATOR SERVICE

Loading

Swattenham,

Port for Singapore, Colombo, Bombay, Karscht & Persian Gulf Ports:

"ATAR DETELGEUSET In Port Loading. Bails Aug. "STAR ARCTURUS"

"THAI"

"STAR ALCYONE"

"LAD"

Arr. Sept:

Bept.

i Best,

14

Oot, 18

Yokohama

Fir Oct -- Nov. 11

Loading for, Kobo, Umka, Nagoya,':

THAI

"STAR ALCYONE"

"STAR DETELOKUSE”

"KTAB ARCTURUS"-

Art. Sept.

NOV.

14) Billa Bopt. Sept. 10, *** Sept. 19 Op.10 Oct. 20 - Nov.", DA, Nov. Nov. Nov.

LIMITED PANIENGEB ACCOMMODATION

All the above subject to alteration without nolles,

EVERETT STEAMSHIP CORPORATION S/A (Incorporated in the Republic of

Chinese, Depar Queen'