1955-11-01 — Page 9

THE CHINA MAIL, TUESDAY, NOVEMBER 1, 1955.

TRADE and COMMERCE SECTION

US Economic And Business Report Favourable Earnings HONGKONG New York Stock

Dividends

And By Industrial

STOCK

Giants EXCHANGE

New York, Oct. 31.

on the flood of by America's

The economic spotlight turned favourable earnings and dividends reports industrial giants which hit the United States last week.

Topping all announcements of the week spectacular showing by General Motors Corporation, world's largest manufacturing organisation.

was

the

F US Steel, N

+Ameneans look fo proaluer..

11:0 Jevtral Besa ne math t For the

Ki cual Rant res porte i preord sales, profits and for the current 1355 the autem ilgs

1956 Even Brain, ported a revved net income of shipments for the three-quarter through

STICHT praczk $912,886,537 after tax,

Typical of many others; second largest produes of coal

ducing C Corporation showed in fut

year in sulf

,t"| 4 vereings out to $5.60

the net el. prar, Germany, France, Holland, Compareci

$1.70

than for any hlalery

Yest-end profits

thau

$30

t Company

httle142 cheel,

ofetals mid that confidence in

showing ability and the elba

$1,000,000,000 mak

the US rectomy

Combat 12. they

tion to vertini

TH company's record was even more

that

buy ng

rehteved despite

noteworthy

fence business.

abet quartet

In

Laughlin Steel Corporation saht dis profits more than doubl for

and nearly tripled the third quarter.

Not Worried How's business?

waspered

Iu

"

Nobely up- worried M

nette Hot Surites,

would

usendnirk

(From Our Correspondent)

Market

New York, Oct. 31. Realising at the last minute brought irregu- larity into stocks today, eliminating early gains in many leading issues, although special stocks held gains ranging to more than 4 points,

Business done on the Hong- kong Stock Exchange the Industrinis, up more than 2 morning amounted to $410.000. points en average early in the Noon quutations und the session, held only 0.02 of the rise. Rats were down 0.87 mod morning's transactions:

utilities

toini up 0.13. or a MILARES BUYENS SELLERS SALES 1,140 issues traded, there were

440 lower, 433 higher, BANKS

1110 5 1710

HK Bank

INSURANCES

Union Limbard

95-0 20

2010

לוך 14

Trading was moderate, with 1,800,000 shares traded, con- 146pared with 1,720,000 on Friday, Halla, lagging throughout the session, had

numerous Bull losses and declines of nearly 2 points in Olinois Central; almost in each in Union Pacifie and New York Central.

Numerous

small gaine Featured utilities although there WIN loser of 14 points in Paclite Gus

DOCKS, ETC

Lock

Provideni

(Old) Wheelck

11000 1

Lasi

LAND, ETY IK Hotel 31K Lid

11

704 1117

113

200 VI

#1

nut Holy burvis of US d Preshtem Easende wer blame a tre business shing during t003-||

54 on the big build-up in the Suce inventories Then, experts have kept a close | Watch

sales and

ita Licht

+ $1

inventory

to how the how the running.

115 wtru

The Department Last werk ui

f Commerce developments in this sector most denournɛźnie. Exunning inventories and new orders.

Department said inventories thereaned merately. Hetal) andl accumytajalkapus have

the

a substantial as nessmen read that some of forecasts drig in the volume of its des the most exuberant

witnessed in many weeks,

Some of the top industrial and Tusiness leader of the nation Virginia, over the weekend in a hudelle with some members of Presidently Eisenhower's Cabinet and otherwhaleszło

Conclusion (been stabie economic experts.

Delivity ix connmle

1956 welli 1955 despite nume casing off

WORLD RUBBER PRICES

New York, Oct. 31. Rubber futures today closed 115 to 100 points lower with aries of 280 contracts

Increased

Hiquidation

en

Facuiry buyers becare in- different on the decline so that local spot business was reported Spot No. 1 Rss htiolinum.

nt 4

cents * quoted wenz

und. Futures

}

ຄ

the

172

New Orders Up

new

Realty terres

2034

2 22:

2420

ks 2.1

204 **

T Light 1

222 41

200

Tram

Y'al Fer

LATIN

Kleuter

,יד!

Macau Elev Jejephone

1170

Ma

y! 22 bi 500 22

21434384) 20040 73 50040 DO 0 40 23 200 2 10 500 3950

100 34

100023

SOU 33

001 32 80

P01970

Among the better moving In 4. striais were Warren Petro- Jetan, more than 2 points; Carpenter Steel, up more than A. O. Smith, more than 2

higher; Fruehauf Trailer, up

carly 3.

International High-priced Business Machines fell 10 pints; Houston Of more than

Zenith Radio nearly 3. Activity centred in Fruchout Truller, followed by New York Central.

New York Stock Exchange bond volume was $3,482,000,

Exchange American Stock volume was 640,000 shares.

Dow Jones closing EVENIREA

600 32

INDUSTRIALS

Comment

M

500 38.25 800 26.75 1000 33 8

STORES, ETI

Dairy

were

500 19.50

30

custom2134

454.87

WEET

1470

20 il

149.03

In les

B3.37

coTTONS

111 stucks

101.87

Textues

5330

40 bonds

6 40

Nenyang

0.0

Comni fula12E price tuslex

151.00

Commn apął price Index Moody's irides

160.54

40240

London Stock Market

In such major segmente of

For the whole economy, it said, eronomy

construction und sales Po 15 per cut from ear production Further, the August and inventories only 3 recent credit bruke appears to per verst

The wise move. Con-

overall inventory-sales have been a #nuert restraints пр In the ratio ईदे manufacturing and A5 offing at least into the spring of trade telt from 1.07 to 1.80. 1950. Moet feel the men!

emparved with August, 1953, the market custnes

attributed by peak of the inventory glut that hette selling, following the many to President Eisenhower's preceded the 1953-54 recession, inventories me down 2 per cent deline at Singapore and Lam-Buress was a healthy develop-

and sales up 1 per cENÍ.

New chun, found trade buyers reserved.ment for the stock market.

Amet speculatiom that steel orders at August were up one- ย year curlier, the prices will rise next year, steel and over

Department satd. mis operated at peak rates with

the It noted also a striking rise a good chance of surpassing reconti output of 112,000,000 tons

received by business

London, Oct. 31. turned out in 1933. Customers primary metal producers."

frantle in their

One are said to be

of the strongest perfor- Moderate selling pushed about getting enough mers in the US industrial stocks lower on the London Concerni

steel next year. New business is the alaninuum industry. Over continued lo exceed

stoel's the past five years, the rate of Exchange today, but losses

of the industry has were

to fruc- nbility to produce, and backlogs expansion

mostly held show no signs of slowing down, outstripped that of the Ameri-tone,

can conomy as a whole in a about Ave ratio of

une. Among Industrials, Itolls- According to economist Mr Royce and Unilever feil buck easter (III Some mills, according to Iron | Dexter M. Keezer, McGraw-Hill sharply and closed with losses liquidation mainly from Feders: Age Magazine, are wielding a ublishing Co., the aluminium of is Ud. lion and partly absorbed by juig blue pencil" in an all-out Industry can be expected to ex- short covering with some trade

at Fast effort to control the flow of inpand

another 50

British Governmetil And the sun-fernt over the next five years. eming anders,

opened weak, losing as much as isn't likely te

US aluminium companies have £ gel any

ut managed a rally better. It adds

scheduled expenditures totalling toward the close. Major steel

Must issues users will be in the market in tens of millions for the next few closed £% lower, although War

Many 1990. Their pro fuction goals are years.

new operators Lo fell LA. High and they will be wanting are coming into the field as de- to add tu inventories to replace mani depicted stocks. Praure wul supply. cone from the nuio industry and allroads, now suffering from a

Dey.

Mar

May

July

Sept

Dec

SINGAPORE

The market

Wil

40 10

38 78.10

37.40

20

40

29.30

34 20

auppat Future closings were

flot

No

I

旧 nhber per

117-127

Nov.

Dec

Jan

No. 2

ubber per

Nov

No.

rubber per lb.

Nov.

11036-174 unquozed

11055-117

113-1101;

120-111

unquoted DA.Du 131-137

inck

No. 4 rubber per b.

Nov.

Spot rubber unbated

Blanket trope

No. 1 pale crepe

The

LONDON

High Goals

of freight cars. Last week i national amic

quietly officials W DZ

steady with spot quoted

pee per lb.

continues

for

вку

to

outpace

slocks

Closing Prices

Alden Inte

Any Allied Chemicals Allied MIlls Yor Allis Chalmers

American Airime American Cynnamide Co

Am. Mach. & F dry

American Benelting American Tel & Tel American Tob B Anaconda Cuppetr

American Metal

Almtu Steel Annour

$225 109

38

021

221

its

24

3331 4714

U.S. Gypsum

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. co.

PASSENGER/FREIGHT SERVICE

futwe do "CHUSAN"

CORFU

* "CANTON"

"CARTHAGE"

Leave Londot Nue Hongkong,

Salled

9th November

In Part

14th November

1211 December 7th December 0th January

via Söulhampton, Port said, Aden, Bombay, ¿dłamka, Penang asingapore

fathewards "CHUSAN"

"CORFU"

"CANTON"

Studebaker-Paekant) Corp. Swift Co

1034

471

Texas Co.

100

Tide Water Assn. Oll Twenty Century Fox Film Union Carbide

30

201

10212

Jalon Pace Railway

15012

Untied Aircraft

00%

"SUNDA"

207

2136

4316

DOL

044

20

1476 40 4831 Untled Press.

6. Line Co.

0.8, Rubber US Belting UB. Ste. Warner Brun, Westinghouse Electric Wen: Va, Pulp & Paper Woolworth

WORLD

COTTON MARKETS

New York, Oct. 81. Cotton futures today rallied briskly

after # mixed start with recently weak new

crop deliverlea leading the recovery.

Closing with rallies of $2.00 bale from the lows the 1st Anished Det 2 to 40 poxits higher. The market opened up 2 to off (8 points. New Orleans closed up 7 to 36 points.

reasons,

Buying on technical plus a broader rude demand coincided with news of quicken- Ing demand In the cloth market, with somo weavers reporting the best order back- log since Koren, generated the rallying power, traders sald.

Trade and spot house buying developed in the nearby March delivery,

where the discount under the spot month narrow- od to around 80 points from an opening spread of pround 123 points.

1703 Nearby December, the recent strong spot, ingged on the rally. Earlier, pricts see-sawed ner- vously while tradera analysed the polluteal debate ori the

of ridd question

70

04

4014

142

Baldwin..-Ham.

12)

Baltimore & Ohio

44

Bendix Aviation Corp

40

Benguel Corin,

1%

Bethlehem Steel

mapp

Borden Ties Co.

Burroughs Add Machine

Beeing Alplane

Canadian Pacific R.

Case (4) 0.

1. T. Fungici Corp.

Cat. Tractor

Celance Corp.

Chase, Manhat. Bank Chrysler Motors Colgate-Palmolive Cu. Cotamorein Credit Commonwealth Elec. Consolidated Extents Continental Oil of Del.

Con Products

Crane Co.... Crown Zellerlach Cubri Amer. Sugar

Curtis Wright,

Diamond Alkkäli

Dow Chemicals Dupont de Nemours Eastman Kodak

037

31

14

flexible

price support for next year.

Expectations for another In- crease in the government crop to be issued next usumate,

work, pointed up uncertainties 48 about disposal of

the huge 50% domestle surplus in face of ac

20%

497

2

ליווד

cumviating. supplies in the hands of other colton interests in the world.

Trading

78 Mar.

168,300 1902,000 bales

Leaves Hongkong Duo Londou

2nd

November 2011 November

10 November

19th December

10th December

10th January

13th JamiBTY

"CARTILAGE"

1313 Februmy

Via Singapura, Penang, Colombo, Bambay, Adṣb, Part Bild a London

FREIGHT SERVICE

tonda 100% Nov.

dur 12th Nov. Kalle 14th Nov.

for B'pare. P. Swetten- bam, Penang. Colombo, Aden, Port Said, Genoa Marseilles, Hlavic, Lon- don, Antwerp. Roster- dam & Hamburg

from UK.

for Japan

With liberty to call at Belawan before or after Siruite Ports and at Bombay if inducamenti ofera

Tanku avaliable for carriage of Oll lo Balk. Space for refrigerated carro. Limited Passenger accommodation

"SUUDAN"

"SANTHIA”

BRITISH INDIA S.N. CO., LTD.

Aut 0th NOT. from Calcutta, Penang

& Strait kalla oths Nov. for Maji,

Yokohama.

Chk-

Nagoyu & Koba

Singapore, ingong & Hangoon

for Singapore, Penang & Calcutta

"WARORA”

"SANTHIA”

all 10th Nov, for

its 371 Nov

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

“OKILA"

"ORBIA"

เฟ

and Nov. Frota Karachi & Bombay Malls 3rd Nov. for Japan

Kalin

8th Nov,

for Singapore. Cochin, BOMBAY

Khorts-

shahr & Kuwait for Singapore, Culumbo, Karachi Barrah. Kbar- ramshahr Kuwait

“ORNA"

Hads Rh Nov.

"OLINDA"

loads 20th Nov. for

Sarachi

BAY &

BOM-

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

"NELLORE"

"NANKIN"

joada 1/7th Nov. for Sandokan, HABAUL, Brimane, Byanby, Mel- bourne & Adelaide

Loads 6/7th Dec, for Sandakan, RADAUL,

Brisbane, Sydney, Mel bane & Adelaide

All vessels have liberty to call at any parts on or off the route & the route 4 sailing are subject to chatire of anietidiens with or without notice.

For full particulars apply lo :- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.

AQUIS HOS SEPARA

ARABIT

& ORIENTAL

STEAM NAVIGATION COMPANY

411

volume and open Interest in the Exchange today

431

were:

Month

PENINSULAR

Dec.

Volume 52,000

Open interest

379,400

10 Mar

40,700

377 900

May

27,000

540.100

4015 July 90% Oct 219% Dec.

20,700

221,000

23.200

141,800

10.200

81,000

0,100

10,000

closed

El Paso National can' Erie Radirond

Corp. General Electric General Motors Gen. Pub, Ut Gillette Safety Razor Glidden Co. Goodrichs (, r.) Co. Goodyear Tire Heyden Chemical

50

Total

214

23

0

134%

30

as follows:

374

Spot

7231

Dec.

Mar.

1712

May

and Steel Co Interchemieni Corn.

Hostake Mining Co. Ingemall-tand

July

Oct.

5514

Dec.

4737

Mar.

Int'l Business Machines

330

35%

British Oils were unsteady. Petroleum was firm, and Royal Dulch moved against the de New Uses

with a gain of £44. but others New uses

aluminion une hryf small losses. for almost group of inter-discovered

daily In

under German bonds were various places. More aluminium experts,

Potash Loans ta being ured

heavy pressure. and government sheet

lost £1 and Dawes Loan assented assembled in a three automobiles,

trim, grill radiators. Housewives skidded 14. Both Young loans of 34%acy meeting of minds to explore work

£14. Japanese Hens were efforts to are using more tinfoil in cooking foll the latest in mau's 3416-34%ke the atom work for peace. and there's been a tremendous mixed, with 1010's non-assentedFanity France

Altention centred on the 3432-3491

by £2. Other Japanese issues were unchanged or lower. Argen- 3211-324 use of atomic power in place of

errotic behaviour of 315-314t General markets, eit basis, ports: coal and petroleum.

such conventional energy sources copper prices is often mentioned tine stocks gained

bolstered by Copper shares, cireles here for this

and Rhokana, rallied 337-345%

There was strong hope that new look at aluminium. unquoted

According to Оле estimate,higher. Exiate crepe ihin New, and thick atomic power is slowly becom

with coal and the US industry can sell all the ing competitive the 1980's should the key to aluminium It can make for at lower.

Operational costs least the future,

cast the next three"

y care. the Inventers of an atomle-powered geneini- ' A project of

No. 1 MIL

market

Prices:

Settlement hote

December

Jan/Mar.

Apr/June

July/Sept.

November

December

• Janury

Nov. were unquoted.

AMSTERDAM

34.314 pcets for practical und spurt in the use of the metal in up 21 and the assented higher Veneral Foods

KEN

containers.

The

In trade

The market was quiet. Prices ing station are being whittled Advisory Institute, Inc., said! closed today In guliders per down, according to "Mr

kilogramme,

eif November

follows:

No. 1 rubber

No. 2 rubber

No. 3 rubber

No. 1 crepe

118

3.30 nom.

3.05 nom.

Untied from

Singapore Stock Market

Leggett

П

tional

that wer

plant.

Gold shares were fractionally Dollar stocks showed strength.--United Press.

b. V. that by the end of 1958, US and New York Sugar

price of an in the

000103

to creasta

atomic power would amount is

capacity, which

Market

New York, Oct. 31. World No. 4 sugar futures closed today 73 points lower with sales of 11 contracts.

Co.

NEW YORK

Prices of futures closed today

NEW ORLEANS

R. M. S. "CHUSAN"

*3.2011

3342-44 22.70

AL

20.92

SAILS:

20.34

28.77

Prices of futures closed today

hi

40

1037

as follows:

Spot

Jat'l Harvester International Nickel International Paper Int'l T & Tel John-Manville Co. Vioc-President

of Canadian

Kanse C. Power & Egineering at Aleo Products, constitutes about two-thirds of

Kenneceli Copper 3.32 nom. ↑ AN

Liggett Meyers Tob. Co. such a station total world capacity, is scheduled 3.30 nom. Inc., who said

Lockheed' Airpraft tile in expand from 2.2 million tons can be operated for as little in

Loews Incorp...... third more than conven-

en- about 2.0 million tons yearly

Lone Star Cement Co. int. He estimated "bad on the experience of the

Louisville & Nashville . Lowenstein & Bons tar period from 1932 to

Mesall Iron Corp. then world production in

Minnesota Mining kilowatt, range

by about 30 per cent

Mission Developineni one and one-half to twice that

the possibility that Euro- The domestle No. 0 contract Monsanto Chemical For a

Montgomery Ward a conventional coal burning pean demand may grow at an closed unchanged

to i point Motorola Ins. DON mation, depending on the type accelerated rate.

even greater higher with no sales reported. Nations Cash Rez, "A"

Dealers of reactor and other considera-expansion than is now planned

understood leading National Day Prod.

| Nadiohal Mufillers tions. Alco Products is the con- may be necessary," the agency British roiners bought 200.000 Nations Lendas. tractor for the Army package noted.

tong of Cuban raws through the Nasloni Steel Corp. power reactor now under con

On Mathinaber Cuban Sugar Insitute for de New York Central Fields Invaded struction at Fort Belvoir, Vir-

lvery tox year. The deal or Elevator ginta, and expected to be put into

the Much of

aluminium carries an option, declarable by Owen-Illinois Gloss operation early In 1957,

growth, the agency observed, Nov. 7, on an additional 50,000 Pacific Gas & Elec. came from invading, market in tons, the report added, Not Gloomy

the electrical, construction and Other reports mitt Iran is in Paramount Pictures Whatever the fate of coal in automotive

long strong the market for a cargo of re-Parke Davis co the atomie age, the outlook for holds of copper.

in the ment.

short-fied sugar for December, ship- the industry was certainly not a ages and Ide Frans & Novo Ltd. On. #1#bak

gloomy one for the near future, price of copper have worked fi The domestic raw market was Framer & Neave Ltd 73%

$0.30 oum, pref.org

Crial production in the United favour of aluminium.

quiet and castèr es refiner held Moncong

Bhanghai

Given Mability, along with to siding. Futuros: States is now estimated at about 8000

500 million tons, due to the big development of new lines, how 1/Dd

Contract No. 4 (world) in the United States uilder way in the US, Cantátka, from

Singapore, Nov. 1. Brokers today quoted the following stock prices:

Opening

Dalu Lintud tubber Co.

Ltd.....$1.00 British Borneo Petroleum

Syndkyła skausmu Wid Consolidated Tim Bradberw

20/-

&

Kenan Latates 140 37%

Haoicing Corp.

dokong Tin 20,

The Faber

Hyw@Biruniah, itubbi

[binepcore, Cold

América and Africa, the MAY Europo, South bocinin

US Steel Industry alone will copper industry should be able July

$1.55

Acad

demand

The

$1.50

$1.70

probably use 25 million tons to hold own the agency bolsterite per il fou Cuba), 3.36

predired; it sured more, this year than in 1954,

US coal exports will show an

world!!

crosse, of 25 per cent over last supplies of coppery coming from rear. With European cosi, prodations at this new, miner gugentore finding it increasingly" khould “, podgla Salabastern difficult to work their mines to problem, as world-demand for meet the tremendous demand, | copper

*. Contritt Na'i

Prodie Westem Oil Pan Ainurican Airways

Penny J., C. Cu. Penn sát co. Philips Petroleu Probler & Gamble

Pikteburgii Pjata dum mi publieker Industrion Pure Oll

Radio Cerration

Tepublie l

Reynolds Metal shelf off Co

Shadair Oil

South Porto Rica

Landend. Brand

Drug

Mar

LIVERPOOL

31.660

33.40

32.22

31.42-45 29.38

20.90-20.00 23.70

Closings, American midding.

In pence per 1b. were as follows: Old contract Dec/Jen.

Mar/Apr.

May/June

July/Aug.

July/Aug. Oct/Nov.

New construct May/June

SAO PAULO

21.45.

25, 90–43 $4.45 23,90

20140 20.00

-20.30.

Prices ungvadable-holiday.

In

the United State, the average price of 15/16 middling cotton at 14 designated- spot markets: 38.07 cents. Salfo talled 86,70 bales.---United Press:

NOTICE TO PASSENGERS

BAGGAGE:

Wednesday, 2nd November, at 11.00 a.m. for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden & Port Said.

Passengers are requested to send ALL BAGGAGE to the Hongkong & Kow- loon Wharf Co.'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE, by Noon on Tuesday, 1st November.

packages SPECIAL NOTE: With the exception of hand,

carried by passengers themselves. ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only,

EMBARKATION: Passengers should, embark between 0.00 kád 10.80 'a.m. on Wednesday, 2nd November, 1965.

MESSAGERIES MARITIMES

"CAMBODGE"". "LAOS"

Exchange Rates | «Vi

jay koi I

100%

FAST

SSENGER/FREICHT SERVICE

sailing Nov. 5th

walling Dec, Sr selling Dec. 81st

PAST FREIGHT:SERVİCE®

ailing Now, th sailing Dec. 9th

INDUE! ""MEKONG