1955-09-02 — Page 9

TRADE and

THE CHINA MAIL, FRIDAY, SEPTEMBER 2, 1955.

COMMERCE

SECTION

DESERTED BY HER WEALTHY FRIENDS

The Stock Exchange Goes

From

Riches To Rags

SUPPORT. BADLY NEEDED

By A Special Correspondent

In the 18 months I have been writing this column I cannot remember a quieter week on the Stock Exchange. True, it has been a short week because of the Liberation Day holiday but not only have prices hardly moved-nine out of 22 stocks were dead steady on the week-but the turnover must have been one of the smallest on record.

There was an indecisive trend during the week resulting in negligible changes in the other 18 shares. At the moment there is nothing to support the market. It is floating, drifting aimlessly and sensitive to the slightest influence.

Ice House Street has certainly been deserted by her wealthy friends. The week's turnover amounted to $3,810,000. It is hard to believe that a month ago it exceeded $14 million.

mile to suggest that all talks

news

to the

The events un the Stock There was not much in the | designed as an annexe Exchange in recent weeks! international situation to spur Hotel, remind me of a nursery story, investors into any activity this A start on But I can't decide whether its week.

continued Possibly the

the work, hos recent Humpty Dumpty or Cinderella. deadlock in the Sino-American been delayed by the

dock and transport strikes in Perhaps it would be too pessi-

at Geneva is having

England. Steel which the con- effect; the depressing King's horses and

and all the King's that Britain will join America tractors ordered has not yet men couldn't It together

prit

arrived in the Colony. in opposing China's admission again. The Cinderella story into the United Notions again oft is the prospect of redemption this year may be another dis- by a Prince Charming and the couraging influence. patronage of a Fairy Godmother.

That's probably the better analogy.

WORLD COTTON MARKETS

Formosa

entries

the

showed stubborn

When it is known al what date the steel can be expected, then pile driving operations will

begin. I learn that contractors hope to begin

the this

At least one Ice House Street man I know thinks prices are still too high to bring in in-phase of the work later this vestors. Others are inclined to month. #gree with him. Certainly in-

vestors seem to be waiting for Plans for this bullding have someone to start the ball roll-been known for quite some

ing. Ilut there scenis to be time now. They should dispel

accredited were

Caution

Banks Down-

Avc

Electrics have come down in

rather price recently due to heavy institutional selling of this stock.

on

the nearby months.alevolent fate may be lurking the week while Wharves are $2

Un

Koren,

US Commercial| Programme

has

Washington, Bept. 1. The UB Commerce De- partment announced that it undertaken a stepped up programme, through a co-operative arrangement with the Atomic Energy Commission to make pubilo s possiblo ** promptly non-classified AEC research reports of Industrial sign)- ficance.

In the frst move of the new programme, 961 of the most

Important reports the AEC selected from accumulation WETO табе available today through the office of technical services.

The reports cover chemis- try, geology, metallurgy. mineralogy, ceramics, In-- strumentation, physics and reactor technology, the on- nouncement sald-United Press

TODAY'S SHARE PRICES

(From Our Correspondent) Business done on the Hour kong Stock Exchange this morning amounted to $540,000. Noon quotations and the morn- ing's transactions:

.. 1715 1730

1010

www...

BANKS

HK Bank

INSURANCES

Union

SHIPPING

Waterbost .. 22.00 DOCKS, ETC.

K. Whart Dock Provident

(Old) Wheelock

LAND, ETC.

77 78 300 A TI

26

New York Stock Market Prices

New York, Sept. 1. Industrial stocks closed in record high ground today but their performance none-the-less lacked vigour.

A few wide-moving stocks were responsible for the gain of 1.45 points to 469.53 in the industrial average. A handful of issues outside this group had gains ranging to 2 points or more but for the most part improvement was fractional with profit-taking paring many gains at the close in the absence of any incentive.

Socony Vacuum de

South Porto Rico Sugde Southern Natural Gas Southern Railway (Com. Standard Brands Standard Oil of Cat. Standard Oil of Ind. Standard Oll of N.J.

Ralls gave up 0.21 on average, with Atlantic Coast Line and Rock Island onch off around a point. Missouri Kansas Texas preferred, outside the average group, slumped points net on

dividend reduction. It had Blokely-Van Comp.

Studebaker-Packard Corp. traded nearly 5 points higher Swift & Ch early in the day.

11

Texas Co...... The move into new

high Tate Water Assn. Oll found for Industrials

camenty Century Fox Film"

Union Carhide" without the benefit of a bigger Union Paciile Rallwny volume.

totalled only United Aircraft Turnover

US Gypsum 1,000,000 shares, compared with US. Line Co. 1,850,000 yesterday.

Of a rotal 1,135 issues traded, 501 were higher. 394 lower.

Some of the best gains came In chemelals

Union where Carbide rose more than 2 points and Allled Chemical and Du Pont each added more than $1. General Motors picked up more than #1 point while Chrysler, its. strike seltled, declined more than one.

of

Inland steel featured its Broup with a rise of 2.

There were 1

number strong specials issues such as U. S. Gypsum, up 14 to $205; Sunshine Biscuit up 4: Visk ing up 2: Babcock and Wilcox up 2 Distillers Corp., up 344 General Foods, International

a point to two. Paper, up a

Bond volume on the N. Y. Stock Exchange was $4,481,000. Volume ofi the American Stock Exchange 650,000 shares. Dow-Jones closing averages were as follows:

$560 11.250 10.70 9.40 0.50 2000 or 9.40 045 4000 41

Be industrials

30.40

20 ralis

16 utilities

54 clocks

200 73

40 bonda

Humphruya

(New)

10

3.25 230

RK Hotel .. 19.20 19.40 500 *K Land

73 734 932

Realty

RUBBER

A. Rubber. 2.10 2.125 15.000 2.123 Trust

3.10 3.20 5.200 € 3.45

UTILITIES

Tram

$1.00 Star Ferry

144 Ymall Party 116 017

Comin, falute price index

VS. Rubber

U.S. Stegi

U.S. Smelling

Page

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. co.

PASSENGER/FREIGHT SERVICE

Outwards "CANTON" "CARTHAGE" "CHUSAN" "CORFU”

Leaves London Due Hongkong

Melled

14th Sevjambor

Joll September

12th October

19th September

17th October

2011 October 141) November

Via Routhampton, Port Said, Aden, Bombay, Colombo, Penang & Singapore flow words Leavei Hongkong Due Landon *CANTON"* 23rd September "CARTHAGE" 21s October "CHUSAN". "CONFU"

2411 October

21st November

2nd November

20th November

18th November

18th December

Via Singapore, Penang, Colombo, Bombay, Aden, Fort Beld & London

Also calls at Malta.

real

"SURAT"

003

Warner Bros. Westinghouse Electric West Va. Pulp & Paper Woulworth

United Press.

World Rubber

Markets

Singapore, Sept. 1. The rubber market was stendler on better overseas en-

covering. quiries and short

It closed

Futures

very steady. were:

per Ib. No. 1 rubber

September

October

145-14314 14332-144 November

unquoted No. 2 rubber per lb. Sept. 140-141 No. 3 rubber ber b. Sept. 130-1383% No. 4 rubber per tb, Sept. 130-131 | Spot rubber unbaled... 145-140

Blanket credo

NEW YORK

No. I pale crepe

480.03

188.00

06.22

160,00

108-110

145-140

Futures today closed 100 to 125 Points higher with sales of 903 308 contracts.

154.07 Speculative short covering and

Closing Prices

Allied Chemicals

Allied Mills Inc.

Allis Chalmers American Airline

C. Light (0) 24 80 23 334 22.00) Am. Mach. & 1

500 23 American Metal r Light (N) 17.70 17 20 500 i 17.30 | Ainertean Smelting

Electric

41 409, 700 x 4125 Eles. 11,40 TL50 2000 ce 11.50 Telephone INDUSTRIALS

Coment

--

33 335 3000 4334

+

a dealer demand, prompted part- ly by the rise at London, found sellers reserved. Market ob- servers felt shorts were extra- anxious

the to cover before long weekend Labour Day 24 holiday.

1121

30%

7134

Dullness

persisted in the spot market, Ол nominal basis, No, I sheets were quoted

Amerison Cyanamide Co.

dry.

28

03

557

American Tel & Tet

1792+

74%

at 47% cents, a pound, Futures:

September

40.00

193

December

47.30

45

March

40.05

13

May

44.75

10%

July

43.30

September

42.18

| Amerlean Tob. "D"

Anneonda Copper Armco Steel

Armour

334 3394 2000 6 3315 | Baldwin-Lima-Ham.

He confidence in the market any Illusions some shareholders

the moment · and I can't may have had about receiving BABES BUYERS SELLERS BALES

the that

pending distribution from the compuny imagine

401720 Interims will do much to restore

either in the form of a bonus issue or an increased dividend. interest.

There is

Is one point I want New York, Sept. 1.

Of 22 issues traded this week, make however: although the

ninic Cotton futures

were steady, eight were moved market shows no signs of re-

fractionally lower anel buoyancy irregularly higher today for covering its former

an were slightly higher. The most the second session in a row. at the moment further substan- We

rise substantial Closing on a smart rally the tial declines in prices are mos!

75 Cetricorded hown by Hongkong Electrics-up 18 points unlikely. The market has shown list finished 5 to

cents to $41%. Brokers point besitancy at various intervals were higher. Opening prices

that this share should be cut ince the raising of

of the bank New Orleans | Bus up 3 to 7 point

roughly double the price of closed up 6 to 11 points,

rate. These have been reflect-

a China Lights which are at pre- ed in price movements to under Larger

sent selling just under $23. degree. But Electrics' greater or lesser government loan programine,

comparatively low the market now seems to be joined with a lower private crop

it has been level and their good yield (6.1 estimate and doineslie milt bay- more stable than

si per cent) makes them popular for some few days. It ing in

in the "Blue Chip" 11x1, in keeping prices on an up-

tends to drift up and down grade most of the time,

Most of the interest centred during the course of the day but the changes bre very slight in the nearby months. October

Indeed. at times under gave ground

December Jiquidation, but the delivery resistance whenever the market

I was on the point of writing

Looking down the list: Banks dropped to near the 33.00 cent this last week but I thought it Jevet, the resistance point

at $1725, Unions might be premature. Even now

are $5 kiwer established earlier this week:

are steady nt $1010. Wheelocks have the feeling that some Shippers

at $9.40 are 10 cents-down buyers lan

in the background waiting against export commitments to patiently to confound my none

better on a buyers quote of while too confident expectations.

An $70. domestic mills bought against inbred caution

Docks are down

about 50 waths THC tu

al $15.80 textile orders.

restrain

my impulse... and cents 'but Providents operations Evening-up

are steady, yet I feel that prices will not traders getting ready for Un

lower and that

Lands are steady it $7316 go very much early start on the long weekend

while Realties are n shade off how may be us good a time as Labour Duy

also holiday.

nt $2.275, nny for the investor to buy. accounted

The some of

Troms have been very quiet Walt, if you like, until next activity.

Youmatis are market continues and close steady, week. If the A leading spot firm's

while China on is prosent dilatory course $2 lower at $116 estimated the current survey

$22.08. Wheelocks Lights and

were crop prospeel around 12,340,000 think it would be safe enough Lights close steady at

take the plunge. If I had + Lo This would be 382,000

few thousand think I'd do it about the most active slocks on

the bales, or three per cent under the

market yesterday, Telc- right away. I'd buy Providents, Jast Governinen! report The Wheelocks

phones are steakly at $33%. and possibly survey noted recent bumper

Realties. yields have been cut down some places because of excessive rains and insect dainage,

Loan entries for "The week: ended Aug. 20 totalled 10,020 bales against 4,431 bales in the preceding week and were slight- ly ahead of the io of im- poundings at the same time inst year-

His reason for belleving this: Trading volumes and open interest in the Exchange today

he says the operators who used spend big money buying were:

shares have deserted Ice House Volimme

There was only Open Interent | 11

304,300

Street. They feel 1 is not

erease in Singapore raw rub- | ing. worth it now with their over- 760,300

ber rates this week but rubber Wort

པས་ drafts at 7 per

eent, And my BhATCH here

frsk- are down broker friend adds with o, good tionally, Morc than 80,000

that it is Amalgamateds changed deal of justification

hands 2.100.700 knies the big operator who really at $2.10 yesterday.

counts. The small Investor can-

bales.

for

Month

Oct.

14,500

Deo.

30,000

Mar

0.000

345,000

May

14,300

33,000

July

Oct.

Dec.

4,300 4300 1,100

203,100

127,000 2,200

Total

77,700

NEW YORK

by

crop

in

- Cements Up That is what I feel. Now here

connded

that

Aro

Is the other side of the ques- Cements have gained 25 Eriend of mine cents to $334 tion: A broker

while Dalry 2005,

he Farms yesterday | S

are 20 cents lower at

Crawfords thought the market would stay $22.80. Lane In the doldrums for as long as steady but have been very quiet another two months or possibly this week. until the Big Three banks lower their interest rates,

to

Prices of futures closed today not do much to alter the pro-

as follows:

cent pattern of trading.

Spot'

October

Becember

March

May

34,45n

33.78-751 markot

33.74 33.44

33.49

July

October

12.05-00

32.40 32,30

NEW ORLEANS

December

Prices of futures closed today

un follows:

Boot

October

December

March

May

July October December

He may be right about the but I still think stand to

you

lose nothing by buying right away,

Baltimore & Oile

| Bendix Avlaliun.Corp.

Benguel Cons

LONDON

The market was very steady

with spot at 41-15/16 pence per lb. Prices:

413-41%

417-42 *40-404

37-38 30-3152 3634-97

Rope

STORES, ETC.

Dairy

22.602280 500 22.70 Bethlehem Steel

240 22.70 200 24.70

157

Buelna Airplane

Borden (The) Co.

63

500 45 24-70

Watson ... 14.00 15.20 COTTONS

Bomoughs Add Michine

20

Canadian Pacific R.

No. 1 Rs spot

4172-42

34

Case (J. 1.) Co.

162

Settlement house termi

Oct.

42-4212

CIT. Financial Con),

481

Textiles

MISCELLANEOUS

Yanguze

Afied

5.40

Cat. Tractor

Nov.

Dec.

Celanese Corp

2216

0.10 25 450 6.75 6.85

8-15

Qinae Manha, Bank

Oct./Dec.

Chrysler Motors

Jan./Mar.

Colgate-Palmolive Co.

6414

Apr./June

Commercial Credit

July/Sept.

Communwealth Fire.

salt

General markets:

Consolidated Edison

15135

Sept.

Continental Oil of Del,

Oct.

Curtimento! Steel

3712

Nov.

Corn Products

Grand Co

Crown Zollerbach

Duban Amer. Sugar

105年

Curta Wright

Damon Alkali

London Stock

Market

Dow Chemicals Dupont de Nemour Eastman Kodak

London, Sept. 1 Trading was light and stocks drifted aimlessly on the Lon-1 Peso National Gas don Exchange today.

Vibro Pilings are up 40 cents

Traders hod expected on the week to $23.80.

Van Yangtzzes are up 10 cents to change in the bank rate, but 28.15. Allieds are steady at the mid-morning announcemni of "no change" left them with $5.00.

Erie Railroa Family Finance Corp.

General Electrie General Foods

Gen. Pub. Bun

General Motors

Gullette Safety Razor' Glidden Co.

a slight in-ttle stimulus for active trad-Goodrich (B. F) Co.

Singapore

British Governments Wire mostly idle, and a few issues slipped as much as £%. Small gains

were sprinkled among the blue chips, with Unliever and Rolls-Royce

two up

to three shillings.

Oll shares attracted little at Lention. Royal Dutch was an exception, sprinting £% to £61,

Goodyear Tire Heyden, Chemical Itomitake_Mining Co. Ingersoll-Rani Inland Steel Co. Interchemical Corp

for Business Machines Int'l Harvester International Nickel

FREIGHT SERVICE loads 20th Sept.

tor S'pore, P. Swetten. ham, Penang, Colombe. Aden, Port Sald, Genoa

Marseilles, Havre, Lon- don, Antwerp.. Rotter- dam & Hamburg "SHILLONG" due 27th Sept. from UK, via Straits

loads 28th Sepl.· for Japan

With Uberty to call at Delawan before or after Strate Ports and at Bombay if Inducement offers,

Tanks available for carriage of Oll in Bulk. Space for refrigerated cargo. Limited Passenger socommodation

BRITISH INDIA S.N. CO., LTD.

due 10th Sept. from Japan salls 11th Sept. for Singapore, Rangoon

ChittuguTK

"WARORA”

"SANTIIA”

due 13th Sept salls 14th Sept,

Irum Japan

for Singapore, Penang Rangeon & Calcutta

“SIRDHANA" duo 14th Sept. from Calcutta via Ran-

Kalle 15th Sept.

goon & Straits for Japan

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

dhe 10th Sept. from Japan

"ITOLA"

"ORMARA”

"ORDIA"

"ORNA"

walls Hth Sept. for Singapore, Maders,

Bhavnagar, Kuracht Basrah, Abadan, Khor“ ramshahr & Kuwalt

due 16th Sept. from JapOEK

il 19th Sept. for

S'pore,

BOMBAY. Karachi. Basrah, Khor Tamsinhr & Kuwalt due Zlat Sept. from Karachi & Bombay #ails 22nd Sept. for Japan dos 27th Sept. from Karachi & Bombay mails 28th Sept. for Japan

EASTERN & AUSTRALIAN 5.S. CO., LTD. "EASTERN" lands 5th Sept.

for Sandakan, Rabaul, Brisbane, Sydney, Mel- buurne & Adriafde 7th Sept. from Australia loads a Sept, fur Japan

dus ist Oct. from Australin loads 2nd Oct. for Japan

"ARAFURA" don

"NELLORE"

All vessels have liberly to call at any ports on or off the route & the route & salling 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.

MESSAGERIES MARITIMES

P.O. Box 53 Queen's Building Tel: 28831

FAST PASSENGER/FREIGHT SERVICE

"LAOS"

VIETNAM"

sailing Sept. 10th

sailing Oct. 8th

FAST FREIGHT SERVICE

404-42

"MEINAM" "PEIHO"

sailing Sept. 21st

sailing Oct. 13th

Estate crepe "thin Sept. .... 4111⁄2

thick

4215

AMSTERDAM

The market was firm. Prices closed today in guilders per kilogramme, cif Sept, as follows:

No. 1 rubber

buyers

4.03

No. rubber

3.00

No, 3 rubber

3.15

4.07

***United Press.

No. 1 crepe

New York Sugar Market

New York, Sept. 1. World No. 4 sugar futures closed today 3 points lower to 1 of 30

4831

407

307)

ternational Paper

130

Tui Tel & Tel Jelu-Manville Co. Kansas C. Fower & Light": Rencout Cooper Liggett Meyers Tob. Co.

contracts.

055 point higher with sales

201

83

Domestic No. 6 sugar futures closed unchanged with sales

of

1202

18

contracts.

68

Lockheed Aircraft

newa Incor

Gold shares were Lone Star Co

News Of The Week Stock Market improved, but coppers remained, Louisvitio eniten.

The nows of the week is that

Central Development Corpora-

tion Ltd., the syndicate which following stock prices: 33,74-75 bought the Hongkong Hotel site

23,60

23.74 43.59

33.45

#2.04

22.01

32.45

SAO PAULO

Future closings, American middling, in pencó per lb. were as follows:

Oct.

Dec.

Mar

May

July

12.30

million,

16

Singapore, Sept. 2. Brokers today quoted the

Co

Petroleum

Smelters

Opening

$1.47

434

How Od

Ltd.

in Pedder Street for $11 million Batu Lintang Rubber has paid is nul instalment British Borneo totalling $0.6

Byndicate Consolidated Tin months ahead of time.

Ord Fraser & Neave Fraser Neave Ltd. 736%

You will remember that this had been rumoured for

come timo -proviously. The Stock Exchange took the news quietly 34.25 perhaps becauUSO not many 30,30 know of it-and the

share fractionally to $1940. In the Unfied States, the They close steady on the weet .overage price of 16/1p middling however,

33.40 1340

seci

at 14 designated spot markets was 33,01 conta Salts at theso learn that the Hotel com- centres totalled 22,048 bales,

cum. pref.

Hotakona

་

Banking Comp

Idle.

Foreign bonds also shared In the inactivity, Japanese. Issues enjoyed fractional rises, paced by ne-assented

which 1010s, turned in gain of 21. Ger- man. bonds were unchanged United Press.

London Foreign

Exchange

1010

Hongkon Tin Ltd.

• 3d

Kempas Ltd.

Luone Rubber mates Lid. Malayan 19reweries ................! New Berancali Bubber Co.

Petaling Tin Ltd. Fallien otsi

$3.25

New York

Montreal

$4.60

Coper

Bingapore Cold Btorago South British Laurenos

Lid.

pany is going ahead with traits Trading The Liverpool cotton prices plan to put up a 12-storey almaita Steamwilp

were Presă.

unavailable, United look

of hervice flata behind United Engineers- Orð:

12.77 Wearne Beo. A the Peninsula. It has been

--China 'Mail Special

Frankfurt

London, Sept.' 1..

Lowenstein & Mesabi Iron Corp. Minnesoin Mining Mision Development Manto Chemical Co.

tontgomery Ward Motorola Ine. National Cash 'ites. "A" tionai Dairy Prod. National Distiller National Lead

National Bicel Corp.

New York Central ........

Ons Mahieson

Olle Elevators

Owen-Illinois Gina

Pacino Gas & Elec. Pan American Airways Paramount Picture

Parko Davis Co.

Penny J. C. Co

Penn. Belt Co.

Philip Morri

21.7035-2478-9/14 Polroleum

#74-5/30-8.7495 Procter & Gamble Co. 10.7744-10.3716"

Pittsburgh Flate Claes

19.83-19.34Publicker Industries

80.00-10.1094/Pure Off

10.891-19.09 Fadio Comperation

Floo Matare 14344-14,38%

New York, foreign exchie not rates

available were United Pres5.

Republie Blect”

Reynolda Mesal

Saint Reg. Paper Binclair

Evening-up operations in the September delivery featured the

629, world contract dealings, while

8 traders avened up accounts in

the November domestic delivery Futures:

Contract, No. 4 (world)

22792

8114

20%

40% Sept,

8134 Marcit

Ocl

4150

201

70%

GO! Nov.

May July Bepf.:

Mar

123%

May

451

道

3.23

3.21

3.20

3.22

3.223

Bpot (conta per il, fob Cuba) -3.25 Contract No,

Spot-foonia per lb, ci NY

́ex-duty) ·

5,41

HONG KONG-MACAU LINE

M.V. TAI LOY

AIR-CONDITIONED DAILY SAILING

DEPARTURE HONG KONG MACAU

TIME

3.00 P.M..

3.00 A.M.

For Freight & Passage, please call: Tel. 26719 & 38091.

TAK KEE SHIPPING & TRADING CO. LTD.- FU HOUSE, .... HONG KONG, -

540 THE "POST" TYPHOON MAP

0.00

United Preak

Exchange Rates and TYPHOON TABLE-

Dustnem was dona: in the Inpat unamotal *'exchange markes this morning at the llowing raten:== 13, B. dollar (per' $1) Lockersk

8.40 Bierling noter (per: #1), Australian aptes (per21 Tradosaman) Fupishi (per Barn fienim (per 100) Bingapore - (STYL) Indo-China plaktres

(per 100)

0.00

Mounted $5,00 Unmounted $4.00

Giving bearing distance and time-distance for typhoons likely to affect Hong Kong. A isetul adjunct to the "Post" Typhoon Map

$2.00 Mounted

Obtainable from

SOUTH CHINA MORNING POST HONGKONG a KOWLOON