THE CHINA MAIL, FRIDAY, OCTOBER 21, 1955.
Puge
TRADE
and
COMMERCE
SECTION
WORLD Is The Bloom Leaving The Boom?
COTTON MARKETS
New York. Oct. 20. Cotton futures moved irregularly in a slow session today.
Spot 110150 buying and covering bolstered the nearby December delivery while the Jater deliveries back-tracked gradually under scattered hedge selling and liquidation.
Ring observers thought probably
volume
smallest
siner the
the
was the
spurt of activity following the govern- ment crop report ten days ago.
Buying
December [
thought to be
against textile
וומן
was
covering ordera DT 4X- to Korea, port cominllments
follow- Other traders covered ing the recent reduction in the stock
of certißested cotton
available for contruct livery.
Jinja
le-
pro-
The Commodity Credi Cor- reported producer poration
under the entries gramme for the week ended Oct. 14 totalled 243,780 bales, largest amount since
tl -
can started on Augu-4) The net stock of 1955
crup coltonta
ttoverment hunin totalira 707,404 bales Jalus 1.855,232 the 1934 Ivan pro-
baics from gramme.
Some traders thought between Ave and six million bates may go into the loan this season.
At the clase, December, ruled
14 poins higher while the rest of the list
was off
to 10
points. The market opened up $1 to off 6 points. New Orleans closed up to of 10 points.
Truding volume
HIGH LEVEL BUT
SAFE ECONOMY NOW POSSIBLE
By Robert F. Morison
Washington, Oct. 20. economists believe the
Some government bloom is beginning to leave the business boom and that the economy now probably will stabilise ut a safe but high level.
recent
They said administration efforts to restrain the boom-and thus reduce the danger of a subsequent bust-may have been aided by two
developments, one completed unwished] heart attack which apparently has prompted politically-conscious businessmen to take a "stop, look and listen" attitude toward further expansion at this time.
WORLD RUBBER
PRICES
New York. Oct, 20. Rubber futures today closed
The second was last Friday's Announcement
by major banks
in the nation's bigger cities that they are raisinj! Their prime interest rates from 34 to 3 per cent.,
The prime interest wate in effect is a bank's cheapest line of credit. It is available only to the biggest borrowers with top credit ratings. Other borrowers pay more for the use of money.
Government economists sald
★This Week's Movements
Share Banks
Unions
Wheelocks
IIK Whart
HK Dock
Provident
4
down
New York Stock
Market
New York, Oct. 20.
The stock market pushed higher again today under the leadership of high priced issues.
At A Glance ★
Up or
Oct 13
Oct 20
1094
1080b
$5
010
945
9.30
9.53
71b
71b
+38
+250 steady
29.70s
20b
steady
15.50b
15.70
+200
18b
18.10b
+100
0314
0334
steady
Tram Yaumati
24.20
24.30
115
112bxd
+100
stendy
Lights (0)
22.70
28
+300
+
(n)
17.00
17.80
+200
T
Electric
4114
48
+800
Telephone
34
+750
with
Cement
3714
374
+250
rails
20.60
20.10xd
100
7.60
7.15nxd
+50
6.05
5.00
-100
Hotel Fand
Dairy Farm Yangiazo Allled
3434
HONGKONG STOCK EXCHANGE
Prices Show
Share Prices
Slight Improvement
By A Special Correspondent
Prices improved slightly on the Hongkong
for 349 contructs.
5 to 10 points lower with sales both developments were inline Stock Exchange this week partially erasing some
|
with previous Federal actions to reduce the supply of money available for loans and put D brake ull new honising Con-
Prices turned resettantary offer a steady start, taking a cue from and open the trend at London and reflect- Interest in the Exchance tokiaya continued pause 151 the struction.
demand In the signat
were:
Month
Detaber
December
March
May
July
October December
March
Total
factory
Volume Open interest market.
44.100 32.000
2,500 632,900 SAY,300
[9,400
$30,300
23.000
32.700
1,000
1,300
201.000 124,100 (3.500 10,000
NEW YORK
1,100 bales
Prices of future, closed today
Outside, dealera bought small quantity of November one
Take Edge Off
"Remove
a couple of very
une oftela
sheets at 42 cents; January sharp stimulants," three sheets of 40% and Febru-wild the Untied Press, "and you fary threes at 40% cents a pound take the edge off the boorn."
delivered. Spot No. 1 Rss were offered at 43 cents a pound, Futures:
Dee.
Mor.
34.20m
May
32,03-05
July
31.92-03
sept.
Dec
31.51
10.40
30.17
20.07 2010
42.45 40.00
38.00
31.40
30.95
30.10
und periods.
of the previous week's losses.
“Anti-Inflation Amber Light
In Holland
21079
• The Hague. Oct. 20. The Dutch Government
today announced unil – inflation measures described ALE "amber 'fight" warning against some dangerous aspects
In
of the present coonagle
situation The rise marked the fourth consecutive session that industrial shares moved upward. Buying in the blue chips stocks was heavy today. Chemicals, motors and oils met the best demand. swing amounted to more than $1,000,000,000.
The Industrial average closed ; Penn, Salt Co.
a goin of 4.57 to 457.66; were up 1.35 to 151.08; and the uillities 26 cents to 62.01. The general market
$1.43 kuproved
average $102.16.
to
Transactions today were the week. highest in more thin a Sales today totalled 2,160,000 shares, the most since Oct. 11, compared with 1,700,000 shares yesterday.
Philip Morris
Philips Petroleum Procter & Gamble Co.
Pittsburgh Plate Glass
Publicker Industries
Pure Oil
Hedio Corporation Republie Steel tenoids Metal
Shell Ol Co.....
Saint Reg. Paper
sinclair Oi
Secony Vacuum
The up-
the A communique Government said it has
to tako been forood these measures beenuES domestic expenditure at to be present seemed exceeding or nearing the level of available re- BOTFOOR,
401⁄4
4416
7012
100
2015
01%
3415
433?
The measures were: De-
40
preslation of all capital
43
BO
404%
goods obtaineil, imported or ordered after October 31, 1955 would be
out
to a maximum of
ten
2294;
33-1
per cent annually.
The preliminary levy
on
613
173
403%
Texus Co.
yearly total of company's taxes hee been raised from 50 to 75 per cent and must be paid in the Brst seven months of the of fiscal year instead
Tide Water An. Oli
on
Twenty Century Fox Film
Union Carbide
United Aircraft
after nine months before. Thle measure would be effective
16
U.S. GYU£}}}
from the 1030-60 scal Mail your. China Special
General Motors met demand throughout the section, but it made its big push in the Inst hour of dealing. It closed with a gain of 3 points to $137%. Steel shares elosed almost a their highs of the day.
tacked Be.hichem Steel
Jgain 235 points to $1619% and US Steel at $65% was up 34.
on
The expensive chemical group also tucked
Kalns. good Carbide was the buil- It rose 2 points to
Union
wether.
$101.
Sinclair
dividend boost.
Of the 18 shares which I regularly use as a market guide, four were steady, eleven were higher and three, vigorously were lower than laat Thursday's closing rates.
$3
Σ
TODAY'S
SHARE PRICES
points to $56.
10-cent
respunded
to
A
It
ran up 3
Or the 1,132 issues truded, 860 stocks closed higher, 249 declin- unchanged. 223 held ed and New highs were registered by 9 stocks and 10 made new lows,
most US Steel topped the
shares active list with 31,000 changing hands.
Closing Prices
In the four-day trading work the total turnover amounted to
million. In the
previous week, in which there were live นแม่ trading days, the turnover
has $700,000 higher; so there September housing starts did
much chrne in decline to the lowest lovel of activity in the last fortnight. the year after the veterans ad- Yesterday's highlight if it ministration and the Federal really can be called a highlight housing administration Increased
the rise in Wheclocks down payment requirements from $9,45 to $0.06 on a turn- shortened maximum loan uver of 29,000 shares, Accord- SINGAPORE
ing to brokers. the shares rose The market opened lower Un
Isolated Consumer credit
apparently gures
will rumour that the company' It stendied won't be avaliable until the end Ikivices. NEW ORLEANS
on of October and there will be ruise the dividend next week; kong Stock Exchange this Prices of futures closed today during the day however,
trade no official indication until then short covering und some
turnover belies the
morning amounted to $620,000. as follows;
enquiry. Future closings were: of the effect of higher interest actual interest which was Noon quotations and the morn-Am. Sugar Ref. 33,30
1281-120
anly understand, confined to
American Tel & Tel 33.90-911. 1 flaa Nov.
ing's transactions: 127-127
American Tob. "E" one or two brokers. 31.90
ungunted
SHARES BUYERS SELLERS BALES Anaconda Copper
BANKS
as follows:
Bpot
Dec.
Mar.
May
July
Oct
Dec.
Mar.
Apet
Dec.
Mar.
May
July
Oct.
Doo,
Mar
LIVERPOOL
overscor
125-120
12215-123 110-110
Dec
81.51-56
Jan.
30.43
No. 2 R
Nov.
30.18
No. 3
28.99
No. 4
14
**
24.59
Spot rubber unbated
128-12
Biankot erope
No
1 раде стере
105-107 138-140
LONDON
16/10
3101
rates on the business boom.
oficial A top administration disclosed recently, however, that confidential figures led him to believe "there is no cause for alarm" in the large amount of consumer credit outstanding.
The market was easy with 29.30 Spot quated at 30% pence per lb. Instalment credit 23.18 Prices:
Future closings, in pence per Ib., American middling,
inch, were as follows:
Old continet Oct/Nov
New contract July/Aug.
May/June July/Aug
SAO PAULO
Cotton future closings cruzeiros per kilo were as fol-
lows:
Dec
JJJAL
May
He did say he wished total were smaller. but added that the picture "In the process of improving."
Dec/Jan.
Mar/Apr. May/June
24.35 No. 1 Ama pot
36-3014
November
24.13 Seulement house terms: 21,35
23.76
Lecember
Jan/Mar.
Apr./June
in
July/Bept
1376-30!
39-35
5235-339
Tighten Screws
The 346-96%
General machets, clf basta, porn:
October
20.50
November
33.20
December
Estate crepe thin Nov.
3534-36 3514-30 3945-3576 3R*
ing power. топсу
and
July
32.20 In
States, the United
the average price of 15/10 midding al 14 designated spot markets was 33.14 cents. Sales at these contres totalled 58,728 bales.- United Press,
New York Sugar Market
New York, Oct. 20. World No. 4 sugar futures closed today one point higher to 3 points lower with sales of 60 contracts.
Domestic No. 1 sugar futures closed 2 points higher to 2 points
lower with sales of DB contracts.
tish refiner was the accredited
nican
Estate crepe thick Nov.
AMSTERDAM
The market was
an
but the
Naturally Ice House Street is very interested in the Wheelocks' dividend announcement speculation was very restricted yesterday,
(From Our Correspondent)
Business done on the Hong-
but
HK Bank.
1005
INSURANCES
Urik
021 960
30 045
GO A 943
20 úr 148
Lombard
43
Utilities Firm Another pleasing sign yester
irmness of the day was the Utility group, All shares with DOCKS, ETC.
of exception Yaumati showed small rives, with Tele-
the
week to actually
Administration's chief dividend
and services.
represented credit,
are
Alden Ine, Acy. Allied Chemicals Allied Mills Inc. All Chainters
American Airline American Cyanamide Co. Am. Mach.
dry. American Metal American Smelting
Armeo Steel".... Baldwin Lima-Ham Baltimore & Ohio Bendix Aviation Corp. Benguet Cona Bethlehem Steel Bocing Airplan Borden (The)
Burroughs Add Machine Case . I.) Co. C. I. T. Financial Corp. 71 72 200 A 7335| Cat. Tractor
GOO 29.20 Celanese Cory. 1000 @ 2020 Chase Manhal, Bank
Chrysler Motors
Continental Oit of Dei. Continental Steel
Com Products
Dock
Provident (old) Wheclock
$10.00, 15.00
9.50
Colgate-Palmolive Co.
65 0000
0.55
Commercial Credit
0000
0.33
Commonwealth Elec,
1000
9.55
Consolidated Edison
HK Hotel
J0.20 13,00
IK Land
G4
013
3715
20,00
101
2.20 230
1.05 1000
phones rising 75 ceumati
on the $344
50 cents down ex but as movements in concern is to avoid un inflation-this share are in units of a ary situation in which purchas-
by dollar it would probably be LAND, ETC. increases fairer to describe them as steady. faster than the supply of goods Banks appear to have touched their lowest point at $1800 and aithcugh buyers were In the at this market all yesterday price, no sellers appeared. Unions, another POWIT
moved up to In line with available slightly
945 on a turnover of 120 shares.
There is no further news of Officials said the increase in
the Gas Company share place- 3.00 nom. the prime interest rate unques- United Press.
ment plan and in the quiet con- tionably will knock some
ditions of this week Allled spective borrowers out of the drifted back to $5.90. market.
Others will put off
Rubber shares pre virtual- borrowing until Interest rates
Amalgamateds 1y unchanged. dre more favourable,
sold
against $1.975 at $1.025
By tightening the screws on credit, the government and the banks can keep buying
stendy. Prices closed today in guilders per kilogram, eif Nov. as fol-
3.52 nom. supplies.
lows:-
No. 1 rubber
No. rubber
No. 3 rubber
No. 1 crepe
344 hom 3.42 noin.
London Stock
Market
London, Oct. 20.
more
-ord
When the prime rate goes up, sollers last week and Trusts sold it usually is accompanied by a at $2 026 against $3 sellers last general rise in rates charged Thursday. other customers with
Singapore raw material ricer lesser
from nre A little better-up credit ratings.
During the 1953 business dip, 115% to 125 Siraits cents a lb there were some charges
that yesterday. an overly tough administration Was to blame.
too fast.
this the
may
brakes
London Foreign
Exchange
Stock markets took very In world rows, a leading Bri- badly Chancellor R. buyer of 100,000 tons of Domi- Butler's sudden announce credit policy
raws for delivery next ment that he will present a Goverment offelals dany although they concede repre- new supplementary budget Federal Reserve Board year. Supposedly this Bented the
Instalment to the country next Wednes. have applied the credit first against options to buy a total
day. of 250.000
lons, dealer said,
Industrialz-whose profits are What further action, if any, New York Futures:
the government takes. In the Montreal vaguely threatened-suffered falla Contract No. 4 (world)
what 3.19 ranging from 15 od to, occasion-credit feld will depend 911 ally, as much as 5 or 6s but happens next. Oficials generally
believa the actions taken so Oro 30 buyers were in and out all day
Kari adding to the collective con- far may turn the trick.
One question will be remain Zurich ot fusion; then came a wave
looked dizietlyn is how much the President's
illness and higher loan rates Preen, before the will cause business to take
March
May
July
Sept.
5.20
Brint(cents per 19,
fob Cuba) ............................
3.27
Open Interest: 1,328 contracta.
Contract No, 0
Nov.
0.63
Mar.
340
May
July
Brfeet per lb. cif
NY ex-duty),
Open interest: 200 contracts.
力
Frankfurt
Amsterdam Brusela
tockholm
Others were
London, Oct. 20.
2.70-8/10-2,7993 2.79-3/10-2.7912 10.50-10 60 139.37-4-139.40 11.77-11.7231 10.00-20.001 DUGT-081 14.428-14.4234- 12212312
unchanged United
close and 5.45 ILCS closed at the day's low.pansion. 8,63 Rolls-Royce and Unilever lost
all the British favour-go-slow approach to further ex- New York Foreign
3.35
as 6d. Ford Motors 2s 3d and
taulds in Od.
Imperial Chemicals and Cour- Unito Prem.
LONDON METAL
PRICES
London, Oct. 20. Prices of metals closed today In sterling per long ton na fol- Jows;
Tin spot
Jemenih
Copper spot
-monit
Lead and hair
-Line-Ind- kalf
buyers sellers
70019
701
3614
301
541
1001
107
1004
PIN
915
ited Press.
Rla Humphrey
(New) Realty RUBBER
Amagamated Trust..... UTILITIES
Trum
Star Ferry Y'mati Ferry
XD
Bay | Crane Count Crown Zellerbach
10
614, Cuban. Amer. Bugar 375 Curtis Wright
Diamond Alkali Dow Chemical
1.0215
3 2000 ep 2.5215
2440 2470 150 44 24.30 1300 24.40 144
Dupont de Nemours Eastman Kodak
El Paso National Gas Eric Railroad ......
| Family Finance Corp.
General Electrio General Foods General Motors Gen. Pub. Utll. Gillette Safety Razor Glidden Co. ...... Goodrich (2. .F.) Co. C. Light (0)
Goodyear Tire ... C. Light (N) 17.50 17,00 2.000 @ 170 Hoyden Chemical
35 214 200 @ 14
23
Homstake Mining Co. Ingersoll-Rand
2000 11.00
Electric Macro. Elec, 11.60 Telephone 04 331000 INDUSTRIALS
100 g 43
12
34
Inland Steel Co.
Interchemical Corp.
Cement ..... 374 3721 500 62 373
STORES, ETC.
Dairy
20.20 20,40 500
*
14.70
0.00
$0.00
Watron COTTONS
Textles MISCELANEOUS
Afied
071%
Int'l Business Machisios Int'l Harvester
International Nickel
International Paper
Int'l Tel & Tol
John-Manville Co.
2010 Kanes C. Power & Light 2020 Kennecott Copper 20.30 (Liggett Meyers Tob. Co. 20.30 Lockhoed Aircraft
Loews Incorp.
Lotulaville & Neshville H, Lowenstein de Boua Messbl Iron Corp. #1000 * 690 Minnewata Mining
Mission Development 4000 @
Monsanto Chemical Co. Montromery Ward Motorola Inve National Coah Hog Natcoal Dairy Prod.
Exchange Rates National D
Od Elevators
677 | Owm-Bimota Glase.
Lead National Steel Corp. done in the Jocal New York Central · Business was
markol This On Mathieson exchange unometat morning at the following rates!-- US dollar per $1) Sterling noten (per £1). Australian notes (per C1).. Indonesian rupiah (per 100) Siam ticain (per 100) Singapore (Stralis)
15.51 Poelie Glas de
A.
13.20
Paulic Woom on K 13.30 Pan Amerienh Airwayn 24.00 Paramount Pictures
1.50 Perko Davis Co
Indo-China plastres (per 100) 8.70 Fanny J. C. Co.
Exchange 4 Per Cent Moro
It was not a stump so much and Exchange Commission,
of indigestion; alt. attack
ag an
According
Inle simmer
to the Securities Canada,
Auralia Belgium survey. indicated
New York, Oct, 20,
de $1.0-1/10 233-7718 010014
United Pros.
the blue chips me still substan- that industry planned to spend tally higher than they were a upwards of $27,000,000,000 for NEW YORK METAL
ugo.
now productiva facilities, about
The came in strongly for Japanese liens causing rises four per cunt more
1954.
ranging from 1 to 1% sterling,
titan in
Some businessmen tearing
FUTURES
$ 2334
10444
3016
043
MESSAGERIES MARITIMES
P.O. Box 59
Tel: 26841 Queen's Building FAST PASSENGER/FREIGHT. SERVICE "CAMBODGE"
"VIETNAM"
New York, Oct. 20. Priers of metal futures cleodLAOS"
Getmana were idle except non-change in administrations might today, in centa per lb, as follows: assented. Dawes which gained mean a less favourable attitute and the assented which fell toward busines in Washington, may abatidon these plans. But British Government- issuce officials ozpont most of them to were tharked up a good 103 by go ahond in confidence that the the doblers but by the uloge economy fine stabiilsed, of in- held gains mostly of Bs.-United other Food higher plateas), re-
United Press
Tid
Ozt Leag
Out,
Out
Copper Oct.
salling Nov. 6th salling Dec. fra sailing 'Dec: 81st
24 pt
50 000
M.TOD
FAST FREIGHT SERVICE
"INDUS" "MEKONG"
Balling Nov. 7th sailing, Dec. 9th
Suth Porto Itten Sugar Southern National G48 Southern Railway (Com.) Standard Branda standard off of Cal Standort
Standard Oil of NJ, Sterling Drug Co. Stokely-Van Camp
St debaker-Packard Corp. Swift & Co.
U.S. Line Co.
U.S. Smelting
U.S. Steel
Warner Bros.
Weinglouse Electric"
West Va. Pulp & Paper Woolworth
United Press,
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. Co.
PASSENGER/FREIGHT SERVICE
Lesvos London
·Dae Hongkong
29th October.
Outwards
"CHUSAN"
Sailed
"CORFU” "CANTON"
Dth November
12th December
"CARTHAGE”
7th December
14th November
0th January
Via Southampton, Port said, Aden, Bombay, Colombo,
Nomawards "CHUSAN"
"COLFU" "CANTON"
"CARTHAGE"
Penang à Singapore
Exaves Hongkang
2nd November
Das London -
29th November
18th November 19th December
18th December
13th January
10th January
13th February
Via Bingapore, Penang, Calombo, Bambar, Aden,
Port Bald & London
FREIGHT SERVICE
"SHILLONG" toads 28th Oct.
"SUNDA"
"BOUDAN"
lends 9th Nov.
die 12th Nov.
for S'pore, P. Swetten- ham, Penang, Colombo, Aden. Port Bald. Geno Marsoltes, Havre, Lon- don,
Rotter
Antwerp. dari & Hamburg
ports
for BAITO "BHILLONG"
from UK.
salis 14th Nov. for Japer
With Uberty to call at Belawan before or after Strafta Parts and at Bombay if inducement offers.
Tanks available for carriage of Oll in Bulk. Space for reizigerated cargo. Elmlled Passenger socommodation
BRITISH INDIA S.N. CO., LTD.
"SANGOLA”
"BÁNTHIA"
"WARORA”
salis 28th Oct.
49
for Bingapore, Penang, Rangoon & Calcutta
dre 6th Nov. from Calcutta, Penada
& Straits salle 6th Nov. for Yokohama, Nagoya & Koba
falls liu Nov. for Singapore, Chil-
Marone ở Tiengoon
P. & O./B. I. JOINT SERVICE
"OLINDA"
"OKHLA"
"'ORDIA"
"ORNA"
"OLINDA"
due 25th Oct.
sails 20th Oct.
from Karachi, Bombay & Cochla for Japan
dao 3rd Nov. from Karachi & Bombay sails 4th Nov, tor Japan
salle 4th Nov. for Singapore, Cochin,
Khorram BOMBAY,
loads 7th Nov.
ma & Kuwait for Singapore, Colombo, Karachi Basrah, iChar- ramshalir & Kuwait loads 28th Nov, for Singapore,
BAY & Karaoli
DOM-
EASTERN & AUSTRALIAN 5.5. CO., LTD. "NELLORE" londs 0/7th Nov. for Sandakan, RÁDAUL,
Art, Bydney, Mol bourne & Adrikido
All vessels have liberty to call at any ports on'or' off the route & the route a sailing are subject to change or minandment with or without notics,
For full particulars apply to:- MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.
4
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