1955-10-07 — Page 9

TRADE and

THE CHINA MAIL, FRIDAY, OCTOBER

COMMERCE

1955.

SECTION

DULL CONDITIONS ON ICE HOUSE ST.

Drift Lower

Share Prices

Prices Drift

And Turnover Falls WHEELOCKS' PERFORMANCE

By A Special Correspondent

same

Trading

It has been another dull week on the Stock Exchange.

pattern as last week and at the close of followed much the yesterday's afternoon call the market was fractionally lower on the week. Very little money came into Ice House Street this week. The total turnover for the four day-period amounted to $4,680,000.

President Eisenhower's slight relapse on Monday had little effect on prices here, though both London and New York were affected. New York losses amounted to $3,000,800,000.

in

bluc

chip I Brokers are frankly puzzled, ment interest

One utilities until prices come down. Inge at the continued dulines.

available what that Auggests

and money there is in Hongkong is

can't

Investor

for

Share

The Week's Movements....

At A Glance★

+200

TODAY'S SHARE PRICES

(From Our Correspondent)

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S:N. Co.

PASSENGER/FREIGHT SERVICE

Outwarda "CARTHAGE"

"CHUSAN"

"CONFU"

"CANTON"

Lenges London Due Bobgkong

Salled

17th October

#

19th, October

12th October

14th November

12th December

9th November

Via Nonthampton, Port Said, Aden, Bombay, Colombo,

Penang & Bingapore

Leavet Hongkong Due Londen

Momawarda "CANTRAGE"

21st

October

21st November

"CHUSAN"

2nd November

29th November

10th November

19th December

Sept 29 Oot #

Up.br Year's

Year's

down high

low

Banks

1725

1730

+$5

2200

1080

Unions

0883

975

905

HIK Whart

78

ya

02

Wheelocks,

0.75

Providents

15.90

9.90

+150

10.70

6.90

15.00

leady

17.10

11.80

HK Dock

20.70

29.90% steady

29.70

23.60

Hotel

18,00b

Land

18.50

-100

20.90

14.70

64

500

TOYS

63

Tram

24,40

Youmati

116

24.00 110m

26.90

10.00

stendr

191

105

Lights (0)

23.50

28

-300

24

16.60

Business on the Stock

(n)

18.20

17.00

→300

1920

18%

to $510,000.

43

421⁄4

40

3344

343%

35

+500

3744

29.20

375%

48

25.30

and the morning's dealings:-

SHARKS BUYERS SELLERS SALES

21.70

B

21 xd —100

7.05

20

20.20

BANKS

8.25

5.90

HK Bank

1730

10 1720

East Asia

10 £30

dus 18th Del "SUNDA"

sall 18th Oct, "SHILLONG" loads 27th Oct.

Electrio Telephone Coment Dairy Farm Yangisze

going into trade, the inference lowest prices to show that in instead of four, or five per cent.UUNI

from

being that less money has been

Colony coming into the outports in recent weeks.

13

Japan Is Planning To Settle

biame the aver. and wanting I have included in this week's being prepared to wait

even nod eight per cent panel the year's highest

However two of the six most active "chips" maneged to close

week. slightly higher on the

HK Tram which is yielding high 0.0 exceptionally

ux of utilities, with one the exception. Youmati, shures are not far below the year's peak levels.

This broker argues that it in difficult to expeel much invest are

On the whole utility

not

very

exclling

ylcellstn

and per

itself

New York Stock Market Prices

New York, Oct. 6.

Stock prices were generally lower today but there was no real selling pressure and volume fell to the lowest level in six weeks.

Alrcraft prices were fractionally lower with some leaders in the steels, motors, metals off a point or more. Industrials fell 2.95 points on average, rails, 0.51 while utilities managed to rise 0.14.

Turnover dipped to 1,690,000 shares from 1,920,000 yesterday and

smallest Was the August 22.

Of

п

issues Liggett Meyen Tob. Co.

Lockheed Aircraft

ceni manageri

fow cents

but at yesterday's close

were offering

attracting

Telephone

four

to push

higher sellers

$24.60 without

-yielding just over cent-also closed higher this week. This shore has been rising for some weeks

now but I have heard nothing In Ice House Street to account for its movements.

Hopes Of An Increase

Outside the blue chip section, the main feature at the close of the week was Wheelocks' rise to $10. It closed slightly yesterday afternoon at 89.90. The vise coincides with the return of Mr G. E. Marient from England but according to brokers the shares rose on hopes of a higher dividend.

Some Of Its Debts

Tokyo, Oct. 5.

The Japanese Finance Minister has begun a review of some of Japan's pre-war and war-time external financial obligations for their early settle- ment.

These problems include pre-war Franc bonds and compensations for Dutch civilians interned by the Japanese in Indonesia during the war.

the

lower A spokesman of the Finance Ministry said the Foreign Minis- asked the ter, Mr Shigemitsu,

Minister, Mr Hisalo Finaner Ichimade, at a Cabinet mesting a scitle- yesterday to expedite ment of these questions in interest of promotion of friend- countries on the fact that this has been ship with the foreign one of the company's best years,concerneti.

The spokesman said Japan had The general revenue position is

mediation the believed to be very sound and accepted as I mentioned company

These hopes are based largely

International Nicket

7534

int! Tel & Tel

International Paper

107

1734

since

Jahn-Manville Co.

131

Kams Co. Power & Light. Kenttecnit Copper

414

1075

to

4796

2012

62

82%

231

$3

2021

interests.

total 1,138 traded, were were 537 lower, 348 higher.

Dougins featured in the air- crafts with a gain of more than a point while Bendix, Boeing, Republie and Lockheed added fractions. Glenn Martin the day's third most active issue, sipped nearly a point on profit

taking.

In steels, Bethlehem, U.S. Steel, Inland and Youngstown

Around Sheet & Tube fell point cach.

General

Molors

Loewe Lacorp, ..... Lone Star Cement Cu

Louisville & Nakville Larwenstein & Sona Meals Iron Dorp.

Manesota Mining

Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Inc

National Cash Reg. "A" National Dairy Prod. Notional Distiller National Lead Nations Steel Corp.

New York Centri

0

Olm Mathieson Ots Elevators

101 more Owen-Ilfhols Gla

than one point while Chrysler declined fractionally.

Coppers declined on an easing Bituation

Rails were mostly narrow.

Pacific Gas & Elec.

Pacifle Western Oil

Pan American AirwRYD

Paramount Pictures

Patke Davin Co.

New York Stock Exchange Philip Morris

bond volume was $3,770,000.

American Stock

Exchange volume was 780,000 shares.

opening with net

Dow Jones

averages

changes from previous day's closing and today's closing averages were as follows:

net

Reo Motota

Republic Steal

Iteynolds Metal

Shell On Co.

Sinclair Oil

bas

plan last week the worked out by a Swedish banker benciltted from last April for settlement of the higher freight and charter rates Japanese Government's four per and also repayments from the cent Frane Loan of 1010 with shipping ctal payment of about 10 million loans to Japanese

dollars. But French bondholders

'AMERICAN

COTTON MARKET

New York, Octy 6. Cotton futures dropped sharp-

ly today on evening-up opera- tions prior to the government

Monday. crop estimate next

The market opened quiet and lightly lower 06 moderate

in Many people Ice House insisted on simultaneous settle-hedging and liquidation absorbed Street claim to

friends ment have

of the Tokyo

"who know" that the company Government's

prewar

Municipal some trade buying.

Franc

Delegation Ready

is in a position to pay a little bonds. moro, but my advice is to wait until November and soc

Hotel is a little wenker. There In the B some disillusionment market over this share. was hoped that following payment of $11 million for the Street elle by Central

Pedder

the

Development Corporation Ltd,

the company might bo in u position to make a bonus issue or a cash bonus.

Not Materialised

senior

the

Ex

change this morning amounted Noon quotations

INSURANCES

Union

Lombard.... Underwriters

DOCKS, ETC. K Whart

Dock

Provident (014) Wheelock

LAND. ETC.

IIK Hotel 11K Lond Humphreys

Trom

13

10

73 731%

20.50

14

9.00 8.00 1000 @

"CONFU"

"CANTON"

18th December 15th January

via singupsro, Penang, Colombo, Bombay, Ades, Pert Bald à London

FREIGHT SERVICE

from UK via Strolle for Japan

for B'pore, P. Swettch- ham, Penang. Colombo, Aden, Port Said, Genoa Mataole, Havre, Lot- don, Antwerp. Rotter- dam & Hamburg

With liberty to call at Belawan before or after Stralia Porta aid at Bombay it inducement offers. Tanks avaliable for carriage of Oll in Bulk.- Space for reftigersted ourgo, Limited Passenger accommodation

BRITISH INDIA S.N. CO., LTD.

Bth Ort. from Japan

5th Nov.

2000 500

3000 9,83 1000

10.40 19.00

4 100 4 041⁄2

(Now) 1950 90

Realty

130

"FULTALA”

RUBBER

Am. Rubber 1.075 2,021, 20000 2

UTILITIES

24.30 1411⁄2 1200 ** 24.30 Star F

142 140 Ymati Tenry 115, is C. Light (0) 22.90°

"SANGOLA"

"SANTHIA"

salls 8th Oct.

aats 27 Oct.

Aue

500

2100

300

-

42% 42% 1000

1000 1000

Telephone .. 34 33 300 @ 30

"ORNA"

"OLINDA"

due 24th Oct,

INDUSTRIALS

Cement

0716

Поро

15:40 38 1200 7.75

"ORDIA”

"ORNA"

loads 7th Nov.

C Light (N) 17.00 14

Electric

Macao Flec

STORES, ETC.

Dairy XD 20.70 21

COTTONS

Textilen Nanyang

0 1.00

MISCELLANEOUS

Yangtzo... 7.00

Autled

B

2. 016 0.75

WORLD RUBBER PRICES

125-125%

128-13837 12374-1244 1225-123

110-17

However, liquidation increased towards mid-day forcing prices down more than $2 a bale. Some

Singapore, Oct. 8. stop-lots selling orders were If the bondholders agree to touched off on the decline. Only The market opened weak on separate

settlement of scaledown buying Was in lower oversens advices. It rallied Govenment bonds, Japan is evidence.

on short covering later and then ready to send a delegation to Some

of the loss was recover-eased off in erratic trading. ctl Tear the end of the session, Futures: Paris, the spokesman said.

The spokesman said Japan was and the 1st closed two to 30 No. rabber per ib.

October November prepared to negotiate with two points lower, (10 cents to $1.30

Dutch Government officials bale lower). Open five lower No. a rubber per m. Oct.

to arrive here this

this to six higher. New Orleans No. 3 rubber per ih. Oct. scheduled

No. 4 rubber per 1b. Oct. WECK on

damages to be paid to futures inished five to 24 points Spet rubber unbaled 125-10844 cbout 100,000 Dutch civilians,

lower.

Blanket repa

100-102 although the Dutch claim for

134-130 The sharp drop primarily re- No. 1 pole crepe United Press. 9,000 million yen £9,900,000) nocted nervousness

NEW YORK MARKET might be too large for her to ptoding government crop re

New York, Oct. 0. that Central concede.

Rubber futures today closed Development in interested in The negotiations will be based port. Adding to the uncertainty

was the estimate of a leading 25 points lower to 80 points and Sisangha on 4 gentlemen's agreement spot firm of 13,388,000 bales,

con" higher with sales of 343 between

This Hotel property but according to reached

is the lowest of

the tracts, have countries in September, 1951. my informants no offers

which private surveys so far,

Futures prices opened higher The

however, spokesman, been made yet.

bales. to 14,240,000 range up

on scattered buying, then rell Cements, having made a good denied Japanese, przs reports The official

government crop bit as much na 100 points

was renewed. September Brise in recent weeks, experienced that Mr Shigemitsu referred to 841 slight

liquidating, but came report debt to Italy profit-taking and closed Japan's war time

back to close on or around their Cabinet:2,873,000 bales. 25 (uisa the week at $374, down

Trading volume and open in highs for the day.

the Exchange today The spot market was dull with terest in

Very were:

Hla factory interest re- Open intereal ported.

materialisedh

the

two

over the

SAY!

30% 174L

27

Penny J. C, c.

Penn. Salt Co.

473%

45

Philips Petroleum

79

Pittsburgh Plato Giane

Publieker Industries

936

Pure Oll

30

hour

Radio Corporation

4422

7%

11

43

has have heard

not

417

Saint Reg. Paper

40 other Hongkong

Socony Vacuum

Opening changes closing

South Porto Rico Sugar

438.1

Southern National Gan

20 ralis..... 102.63

off 047

152.58

13 les..

up 0.10

12.80

Standard Brands

oir 0,47

103.01

Standard O of Cnt.

03.50

Standard Oll of Ind.

Standard Oil of NJ.

132.12

Sterling Drug Co.

13

Studebaker-Packard Corp.

10

p14 cents.

101.37

Swift & Co.

474

Texas Co.

407.00 Twenty Century Fox Film

Tide Water Asan. Oll

3192

274

Volume

1,500

10214

55

45

until they come 233k dollars.

high and I would prefer to wall down a A toy

up when he visited Japan shortly May to return the visit paid to Italy July former Prime Dei. by

Japan's

06,700

33,600 706,300

►

Mar

39,000

3700 1

59,400

324 300

17,300

209,200

7,800

110,700

Dec.

2,000

48,700

0300

30 industriale $50.00 off 200

07.04

1 stocks.... 183.22

40 bond...

Con. future

price index

Comm. spat

price index

Moody commodity

1

index

--United Press.

Closing Prices

Aldan, Inc. Azy,

Ailled Chemicala Alled Mills Inc. Allis Chalmer

American Airline American Cyanamido Am. Mach. r dry, American Metal American Smelting American Thi & Tal American Tob. "I" Anaconda Copper Armeo Stcai Armour

Baldwin-Lima-Harn. Baltimore & Onio Bendix Aviation Corp.

Benguet Copa..

Bethlehem Stoel

Boeing Airplane

Burroughs Add Machine

Canadian Pacific R

C. I., Financial Corp.

Cat Tractor

Celanoso Corp.

Chero Manbat. Bank

Chrysler Metorn

Colgate Palmolive Co.

Commercial Credit

Commonwealth Eles.

Consolidated Edison

Continente! Oll of Dei,

Continental steel

Com Products Crane Co.

Crown Zellerhedhi Cuban Amer, Hugar

Curtis Wright

Diamond Alkali

Dow Chemicals Dupont de Nemours

Eastman Kodak

Paso National das Kris Rakroati vegani Family Finanos Corp.,

Cenatal Electric

General Foods

·General Motors

Gen. Pub, Uti.

Killette Safety flaxor Glidden Co

Goodrich (B. 1) Co. Goodyear Tire

Horden Chemical

Homsake Mining Co. Ingersoll-Rund"

Inland Html, Co.

Interchemies

Corp.

In Businem MachineU

Inti Tarvester

Oct.

233

10s

00

M

304

Southern Railway (Com.)

Union Carbide

Union Pacific Raliway

United Aircraft

U.S. Line Co.

U.. Rubber

US. melting

U.S. 'Steel

Westinghouse Electria

West Va. Potp & Paper

Warner Bros.

Woolworth

324!

A friend asked me yesterday whether I still thought them a

at

meeting.

yesterday's Doubtful

The spokesman expressed Month good buy. In the long run, yes doubts that the Italian Foreign Oct. 1011 But at the moment they are too inister would take this question Dee

The peak this year was $40. Minifier, Mr Shigeru Yoshida, er

Since then the company has last year.

made a one for two bonus issue The debt represents an un- which cut the price roughly by favourable balance of about 48

third, So that your Coment million

47

United Press:

{1

London Stock

Exchange

London, Oct. 6. British Government stocks recorded major gains on the London Stock Exchange today.

Some gilt-edge issues, gained as much as 16/-. Old Consola rose 5/-, War Loan, 12/0, and Daltons closed 7/6 filghar.

today la around its peak monetary

ex-all

war.

In war-time yen terms remaining un-

Total

$4,500

4,025,700 balen „United Press. NEW YORK PRICES

New York, Ort: B.. Prices of cotton futures closed

share, vel. In its favour is its latitled in a "special yen" account today as follows: reasonably good yield-0.8 per in the now defunct Yokohama cent despite its high price. The Specle Bank for Japan's arms $2.00 dividend purchases from Italy during the company paid a last year with a $1.50 bonus

The only other point to bewi mentioned ls that share has be asking for payment of about risen recently under firm buying $10 million in settlement of the

reports that the debt-China Mail. Special. pressure on company has secured a big con- tract or big contracts outside the Colony.

Wait For A While

If you like Cements it might bo as well to hold your order for a few weeks, I think you'll get A pessimistic, outlook for in a better price and a better dustrials helped drive a number | investment.

this week, by of blue chips downward. Rolls Banks are up Royce and Ford Motors both | fvo dollars to $1780. Unions lost 2/-. Unilever was an ex-are a little cooler, having fallen ception, closing higher on re-973% to $975.

.The Italians are reported to

30.93

от

Spot No. 1 Rad was offered at 44% cents a pound. Futures:

Dec.

Mar

Nay

July

Sept

Dec.

-United

LONDON MARKET

London, Oct. 1 The rubber market was 'un- certain with spot quoted at 38% penct. Prices:

No. 1 Rss spot ... 90%-30% Settlement house term:

302-361

333%-30%

General markets, cit bosis, ports:

Spol

Oct.

33450 37.23

Dec. Mar.

31.96-07

30,00-31.00

Nov.

May

Dec.

July

30.30-11.

Jan./Bior.

Oct.

30A1

Apr./June

Dec.

Mar.

30.10 50.10 —United„Prem. NEW ORLEANS PRICES

New Orleans, Ort. 6.

July/Bapt.

Oct.

Nay.

Dec.

today as follows:-

Spot

Oct.

Dec.

Маг.

Moy

July

Oct,

Dec. Mor.

New York Sugar Prices of cotton futures closed

Market

New York, Oct. 6. World No. 4 sugar futures closed unchanged to one pointi lower with sales of 85 contracts. Domestic No. 0 sugar futures closed 2 to 8 points lower with j

in

sales of 41 contracts.

The 100,000-ton increase

marketing sugar l

$1.00

99.30

31.07 T 50.02 30.12-15

30.20

30.13

-United Press. LIVERPOOL PRICKĄ A

Liverpool, Oct. 4. U.5. the

Cotton

closings, future ported American and continental The whort section continues

quota late yesterday brought American middling, imperies per Arm with Wharves up slightly only light selling and small de Ib, were as follows: buying.

and both Docks and clines in the

domestic futuros Der/Jan Olle found little support and to $73%

market. Traders had anticl- Mar/Apr. May/June saned as much as 28. But Royal Providenis steady.

Rubber priced in Singapore |Dutch, a major · lover-recapfly,

time... was intetive and closed un- took rather a nos diva this pated a quota increase for some July Aur

week. Last Thursday they The world market was dull

Yesterday they

and about unchanged. Futures: were 143%. In the foreign department,

Contract No. 3 (words) 1974 Japanese bonds found support were 1264 Straits conte

in Hongkong Mar. and neglected 5 MAY July

ps changed.

shares depressed

Rubber onid tacked on guzhit up to 108.

wedále, were

with were Dawes Loan off 10s, and both a result, Potasha isques dơín 21/1 *These prices were taken Sept.

apot-teenis per 1b, fob Cube Gold whores closed, somewhat from the September edition of

the monthly share report isqued⋅ Nov. [drinar; but doppers were marić»

od down on reports of lower by the Stook. Exchange, I have Mar prices for the commodity, Ha-altered the price of a few, bet company shares, simo, cineod shares which haud rides hipher lower-United Press,

since.

Contract No, @

New contract May/June Now contract July/A

Exchange Rates

Dustwan Klony in the!!!!

323 | unofficial exchange. market-- ADİN

2+2

15.

New

morning, mi" the following, rathera Am, dollar - (pwr $1),

·Sterling nobis (per

Australian nolva

{triam: sical

3616-2835

· 3514-30

—United Premd.

London Foreign

Exchange

New York

Montreal Amsterdam

London Oct.

Brussel Frankfurt

hors Milan - Parig #sockholm

130,40

New York Foreign

Exchange

"Now York,. Oct-0.,

03.75-15/18

3/10

for Singapore, Rangoon & Chittagong

for Singapore, Penang. Rangoon & Calcutta

from

Calcutta, Penang

& Straita

salla úth Nov. for Moji,

Yokohama.

. Nagoya & Kobe

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

dua 10th Oct. sails 11th Oct.

salls 23th Oct. mails 1st Oct.

from Karnahl of Bombay for Japan

from Karachi, Bombay

& Cochi for Japan

for Bingapore, Cochin, Borrah.

"Khorrammhahr

& Kuwait

for Bingapore, Colombo. Karachi Basrah, Khar=. ramshahr & Kuwait

EASTERN & AUSTRALIAN 5.S. CO., LTD.

"ABAFURA”

"NELLORE"

lands 10/11th Ocifer Sandakan, Brisbane & Sydney, Melbourno Adelaide

loads 8/7th Nov. for Sandakan, Rabaul, Brisbane, Sydney, Mel- bourne & Adelaido

All vessels bave liberly to call at any ports on or off the route & the route & sailing are subject to change or amendment with or without notice.

For full particulars apply lo... MACKINNON, MACKENZIE & CO.

OF HONG KONG LTD. Telephone Nos. 27721-4,

MESSAGERIES MARITIMES

P.O. Box 53 Queen's Building

Tel: 26851

sailing Oct. 9th

FAST PASSENGER/Freight SERVICE

"VIETNAM"” "CAMBODGE" "LAOS"

"PEIHO" + "INDUS"

sailing Nov. 5th · Bailing Dec. 3rd

FAST FREIGHT SERVICE

F

sailing Oct. 17th ...Bailing Nov. 7th

† accept cargo for Hamburg,

HONG KONG-MACAU LINE

M.V. TAI LOY

LAIR-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.

THE "POST" TYPHOON MAP

and TYPHOON TABLE

Mounted $5.00 Unmounted $4.00

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

$2.00 Mounted

SOUTH CHINA MORNING. POST

MONOKOKO AZKOWLOOi

Obtainable from