1955-11-04 — Page 9

TRADE and

THE CHINA MAIL, FRIDAY, NOVEMBER 1955.

COMMERCE

SECTION

SHARE PRICES FALL LOWER

Two Setbacks This Week

HIGHER YIELDS NEEDED TO

BRING BUYERS BUYERS

BACK

By A Special Correspondent

The share market suffered two setbacks this week cutting the prices of many shares by between one and three per cent and one by six per cent. The first fall came on Tuesday. Prices were marked down sharply, largely understand, due to nervous selling by Chinese shareholders.

There was a slight recovery on Wednesday and then the second dip came yesterday. Although losses were less marked than those on Tuesday it appears that the same influences were at work.

NEW YORK

COTTON MARKET

New York, Nov. 3. Coffon prices today open- Ed higher and maislained fair-sized gains for the rest of the day.

The upward reversal, after two days of agging tennenelers m fretend tyhunlead vandete t tions, plus extra heavy produce kan impoundings and unw

sustained mand In Blac

goals in the

and heavy weight

textile market

A good par: of the antavaiy

In futures was

trade switching

dealers mover

market

recent

Riven e

Ju

Coriadate positions following the

of HOW

drop

months to sersonal jows

New Orleans interests leading buyers at the start

Dep

were

An

CAUTA th liek}q1 for nearby 131131. bhaneh suppets.

AN

Wil

Baku Blaine, new Temstens place his order as long as there Count day Peking But this tells is a good chance that prices will only half the story For the

lower.

Comises portiers

¡Esta ay we are still seeing the And the opinion brokers is of the Big Thure | But they will. They will have [: If prices stay at this lovel De market will be chronically

nk Tighter money polley

أمر

result of declining prices, weak and will drift aimlessly to

qet al te who borrowed frost,complete stagnation.

42 tiks on mernw mar

KIN to lay inves at the pruk

od fire Twedly are unable to sup j

post then purchases and this furs

Small Turnover

Much less money is coming in

opparently caused some fiquide- | from Southeast Asia than in the tira t the last few days

best six months of this year and i

almost certain that the shape revanzkert L'a exert ne

"scure money" in the trainediate future

Amparison of share prices. right of the boom early Augurst with those ruling to Cary kibow that the praverstaže Trav rasige from nine to 27 per cent with the majority betw tween 10 and 20 per cent

Prices Too High

Junkers loss that priceN tepute arient losses anart

new

* The Share Market

At A Glance ★

Share HIK Bank Untaris Wheelocks Ik Whart

HK Dock Provident Hotel

Oct 27 Nov 1 .1710 1700

950%

0.30

71349 29.20€

... 945

9.20 7in

1700 1680.

Nov 2% Nor $ down

040

9.30

D.05

20.10% 28.001

693b

70b

20%

.15.30

15.60%

18.50%

17.00b

17.50

17.70

200 *15.50% steady 17.30-800

G4

0214

0214

02

1111

110

110m 100

24.30

24

24

24% 1-300

Lights (0)

22.00

22

22.20

22

600

17.70

17.70%

17.80%

17.20 -500

42

40

4034

301

3416

33

334

334

-$25 -$14

3014 20

33%

30

3514

1014

10

19.60-400

7.15n 5.05

7.15n

7.15m

5.68b

0.85m

7.18n steady 5.851-190

Land Yaumati Tram

! Elcotrie

Telephone Cement

D. Farm Yangtze Allied

b. buyer, a seller, n. nominal, m. middle,

Standard Oil (NJ)

Lifts

Values

New York, Nov. 3.

TODAY'S

SHARE PRICES

(From Our Correspondent)

Business done on the Hong- kong Stock Exchange this morning amounted to $470,000. Noot quotations and the morning's transactions:

SHARKS BUYERS BELLERA BALES

BANKY

HK Bank

INSURANCES

Union

DOCKS. ETC. K. Whart Dock Providem

(OM) Wheelock

LAND, ETC. AK Hotel HK Lid

Really

RUBBER Trust

Them

Three-for-one stock split of Standard Oil vinuria flood of (New Jersey) sparked new enthusiasm for stocks today, lifting market values around $2,000,000,000 in one of the best gains of the year.

JA 1 week's market, only

were!

shares manage to hold

while SLN{wta Extracy

marked Tower smallest turnovers of the year, 537 million

one of the

Utilities were hit hartlest with

11.6. are still the high | Electries fosing $2.56 to close at Corel genuine investors bark $39

!!

Tek phones were $144)

Gains throughout the list ranged to more than

a point with a few issues showing much wider im-

Oils and steels led the advance. provements.

Derlings, however were high- ly restricted. Bethlehem Stoel was the bright spot in its group.

at and this pathy lower at $33 14ghts were US Cotton Acreage moved up 1% points to $148.

with which the pubbe regani cents lower at $23

Dhe ket is likely to contine as long as viesicla on server build INK and potential returns from [esponding role in the bulk

SPRODAN available for Investment

it

11-

an

I there i geing to be ni inted with export commit- Į

und 124 21 Tu Koren, and persibly covery in the market Span. Lavvapord Spoker, bought expansion of volume, which is surely an essential prerequisite. thu neushy and solet later de

the big buyers who will do i' The shall investor plays » He may help very minor role. to swell the volume of business once the recovery begins, but at

unlikely The moment he is

15.08.

CROP SPECULATION More trader. turned attention Laward the government (TM) rist to be published on Tues day, Nov. 8. The average gues

of 71 micry of the New

Exchan York

www Cotton 14,545,000 bales. The highest Ruck

and the

Was 15,439,000

lowest 13,550,000 bale-

Covering

nearly

December

coincided with a further reste-

tion

In the certitenles!

stock

Aa Une spot monk worke up

lear

Sony

cents

the average government

male DE 334

Truders

expectedt pound more entton would be iliacted Instead, the for verlineation

for stock of colon available contract delivery dropped to 11 low at 8.820 bales Conti- pared with a penk of over 8.- bou bales in July.

volume and

710 W

Trading

Interest in the Exchange today

WORLD RUBBER

PRICES

to

1 bnver FC AN depresslog today as they were at the final beil yesterday, there should be further

the {*w;4;

get Banks

The

Tegutsebion Although only smallish ir 1

changed Pands, they showed a loss of $20 mm the C. this in plt the fact that Tandon registers

been Have 198

teacy all week ni

If you want to buy shures al the moment, I would suggest sklering Providents at $15.50 und Wheelocks at just over $9.

Wheelocks Dividend

are

you are patient with Whee- locks you should do well, but you should be prepared to hoid them for a year or two. At present thry

yielding shack uvei six per cent. The j company Its dividend.

I have no kelwa what it will be but there has been a lot of talk about 1171

is about to announce j

Allotments

Washington, Nov. 3.

The Agriculture Depart- ment announced stale-by- state cotion acreage allot- ments today for the 1955

STOP.

The National allotment of 17,391,304 acres. Д- nounced Oct. 14, was divid- ed among 21 states. It is four per cent smaller than the 1035 allotment of 18,-

113,208

The allot- ment is designed to pro duce a marketing quota of 10,000,000 bales of cotton, -United Prom

In the high ol group, Stan- dard O Co. (NJ) added s points to $133.

Du Pont led its group with a gain of 1% points to $210%.

Metal shares, yesterday's mar- ket kaders, again met demand, Kennecol Copper moved up 1% points to $107% and Phelps Dodge was up more than a point.

Closing Prices

Alden Inc. Aey.

Allied Chemicals Allis Chalmers, American Airline American Metal American Smelting

LONDON MARKETS American Tel & Tel

interity which will be announced New York, Nov. 3.

closed today Rubber futures unchanged to 50 points higher with sales of 490 contracts,

The market was erratic with wide fluctuations, Futures:

37.13 35.00-30 00 34.05-05

on

at the same time ng Be

yelle

divideant. This should be some time in the next fortnight. Last

The dividend was 76 cents Profits should be up this year and next year's should be very mearb better for It is fairly common knowledge that 1955 has been one of the best years in the company's history.

Middle East

Unsettles Buyers

London, Nov. 3.

Lessened buying support

news from

China Provident shares have

been not

very

spectacular and bad this year. But that is In favour. nine

par

American bb. "D" Anaconda Copper Armee Steel Annour

Boltiwirt-Lita-Ham. Baltimore & Ohio Benguel Com. Bethlehem Steel Canadian Poville Chase Manhat Bunk Chrysler Motors Colgate-Palmolive" "Co. Commercial Credit Commonwealth Elec Consolidated Edison Continental Steel Com Products

Crane Co.. Crown Zellerboch Cuban Amer. Sugar Curtis Wright

Diamond Alkali

Eastman Kodak General Electric

General Foods

the

Dupont de Nemours

Gillette Safety Razor

Goodyear Tird

is Middle East unsettled stocks It has suffered only on the London Exchange to-General Motors

decline eent

since which

mid day, and the list closed irre quite compared with the losses shown gular with a good sprinkling

. by utilities and Cements, for of fractional losses.

Selling was brorbed by trade and August"

Futurco:

Dec

Mar.

May

apen

July

Sept.

32.90

Dec

3220

were:

Menth

Volume

Dre

0,700

Open interest

SINGAPORE

DOD

Mar

43,200

376,000

May

3.200

350,100

The

market

weakened

July

33. BAJ

221,400

Ori

23,306

153,400

13.800

€2,000

Ater Total

2.000

$7,000

| henvy qukia tion.

well short coveringi.

205 1900

1,051,000 Intes

No

rubber per 1

NEW YORK

Nov

Dec

Jan

Nu.

2

mlber

No.

34 70277

ubber per

11.30

Nuv.

32 41

per

Nov

31.27

29.37

20.72-75 213.02

Nu. 1 pair crepe

Blanket crepe

20 301

LONDON

Prices of futures, closed today

as flow?

Spot

December

March

May

July

October

December

Morel

NEW ORLEANS

Sput rubner nordsafet

in

Glidden Co.

Heyden Cheriaul Ingersoll-Rand

Int'l Burkness Machines

Int Harvester

clashes be

International Sickel

int'l Tel & Tel

Y'all Ferry

Ĉ. Light (0)

C. Lasht NI Electrio

1680 1025 031030 201005

040 PS0

TO

13.20 9.70 0.20 4400 2000

0.10

5:00 17,30

300 12 02

250 273 5000 210

90 m 200

Eter

.32

Macoo Telephone

23.00 80 23.70 100w 23 20 200 #5 100

30 DU 50031)

1100

32 1000 3215 1000 or 127

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. .CO.

PASSENGER/FREIGHT SERVICE

Outwardz "CORFU" "CANTON" "CARTHAGE"

"CHUSAN"

Lenyn London

Sallon

9th November

71 December

Due Inngkong 18th November 12th December

BILL JASIDATY

16th December 14th January

Via Southampten, Port said, Aden, Bombay, Colomb, Penang & Stagapore

Bomewards

"CORFU" "CANTON"

"QARTHAGE"

**"CHUSAN”

Leaves Hongkong One London

November

10th

December

10th

December

16 January

13th January

15th February

30 January

27th February

Via Stogipote, Penang, Colombo, Bombay, Aden.

Port Bald # London

* Also Calle Marselties.

"SUNDA"

"SOUDAN"

FREIGHT SERVICE

fonds 0/10 Nav. for S'pore, P. Swetten- ham, Penang, Calumbo,

dun 12th Nov. 10 Nov.

Adon, Port Said, Genoa Marsellies, Casablanca, Havre, London, Ant- werp. Rotterdam Hanburg

from UK.

Jur Japan

With liberty to call at Delawan before or after biraits Porta and at Bombay if inducement ofera Tanks available for carriage of Oll in Bulk. Space for refrigerated cargo, Llinlies Passenger

Accommodation'.

BRITISH INDIA S.N. CO., LTD.

5th Nov. from Colçulta.

A Straits

"SANTHA"

"WARORA"

"BANTHIA”

dus

Penang

sajla Cu Nov. for Moji, Yokubama,

Nagoya de Kobo

All 10th Nov, for

salls 37th Nov,

Singapore, Cult- tagong & Rangoon for Singapore, Peumag & Calcutta

P. & 0./B. I. JOINT SERVICE

kaila

4th Nov. For Japan

5th Nov. for Singapore Cochin,

Когтет BOMBAY

104 107

21 60

600 a 21,80 1000 MF 11,70

17 10

"OKILA"

"ORDIA"

INDUSTȚIALS

Cement

34334

000 v 35!.

500 35 1000

38

"OBRA"

"ORNA”

due

aada

"OLINDA”

"OKHLA"

londs 20th Nov, for

י.

STOPES, ETC

Datry. 18.10 19.40 250 10.40

14.30

COTTONS Textiles

6.70

Singapore

Stock Market

Singapore, Nov. 1. Brokers today quoted the fol lowing stock prlees:

Botu in tatiy

Bibber

Ltd.

# 2235

Brittan

110

031

Byndieste Consolidated

Ord.

Co.

Opening

21.00 Bornce Petroleum

unquoted Smelters

20/- Fraser & Neave Lid. Ord... $1.58 474 Fraser & Neave 7157 cuni.

Tin

178

pref

30.20

Shanghal Bank-

67$

ing Comp.

1900

4734 Bangkong Tin Lid.

7/

143

Kempas 14.

$1,50

136

Lunas Rubber Estates Ltd.

120

43

Malayan Bloweries

1340

116

New Serendah

Rubber

140

Lid.

313

Petaling Tin t

$1.00

181%

Raffles Hotel

$2.45

Singapore Cold_Storage

$1.70

South British Insurance Co.

01

Ltd.

$20.00

Straits Trading

$23.75*

Strelt Steanship

813.33

3815

United Engineers Ord.

$10.2%

Weare Gron.

$2,92

*x-China Mail Spectul.

shahr de Kuwait 611 Nov. from Bombay & Karachi 9th Nov, for Japan

load 9th Nov. for Singapore, Colombo.

Karachi Bakrab, Khar- ramshahr & Kuwait

BOM-

Bingapore. BAY & Karaciil leads and Dec. for Singapore, Madras,

Colombo, Bombey Karachi

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

"NELLORE"

"NANKIN"

loads 7, 8th Nov. tor Bandakın, BABAUL, Brisbane, Sydney, Mel- bourne & Adelaide

toads 0/701 Dec. for Sandakan, HABAUL. Brisbane, Bydney, Mel. bane & Adelaide

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

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

MESSAGERIES MARITIMES

P.O. Box 53 Queen's Building

FAST PASSENGER/FREIGHT SERVICE

"CAMBODGE” "LAOS"

New York Sugar | "VIETNAM"

Market

New York, Nov. 3 "INDUS" World No. 4 sugar futures to- "MEKONG"

02 day closed unchanged with sales

27

of 32 contracts,

Domnestie No. 6 sugur futures remained unchanged to 3 points mluwar with sales of 33 contracts.

100%

example (between 10 and 27 10-100%

per cent). Dividend

$1.20

Oils were shaken by reports free of tax, yielding 7.7 per of unquuted

sharp frontier gent on present rates and profit

tween lernel and

1015 Egyptian antos C. Power & Light 108%41005% has been well maintained in the

forces. British Petroleum and Kennett Copper Lockheed; Aircraft last three

Burmah were among the major Loews Incorp 103-103

$1,25 and $1.5 million.

lovers. Ruyal Dutch moved Lone Star Cement Co. 10015-1003

This company

Minnesota Maluk 1004-10034 versatile in its activities and 122-123

must do well with further ex- D1-93

pansion of trade.

The market wus steady with Priers of futures closed today | mot down 1% to 31% pence per

as follows:

Sout

December

Macchi

May

July

Ocinber

December

March

LIVERPOOL

Ib. Prices:

33.28

No. 1. Hos munt

3144-12

33,50

32.47

Bettlement house tem December

21.20

Jan/Mar,

20.30

July/Bep).

20,75

General markota, eit lasts,

20.37 21.37

November

December

3-313 31-314 304-302%

313 3-31

Запиту

Closings, American-middling,

in pence per 1. were

lows:

Old contract

Dec./Jan.

Mar/Apr. May/June July/Sept.

New contract

July/Aug.

May/June

Oct/Nov.

Egyptian Karnak

Jan/Feb.

October contracts

os fol-

Fatate crepe thin Nov, 3512 Estate crepe thick Nov...

AMSTERDAM

The market was casy,

341%

Prices

years at between

A

is extremely against the tide with a gain of Miton Development

£VA.

Outside of these two I would hesitate to recommend anything at the moment, but utilities will

Montgomery Ward Netionial Coal Reg. “° Moderate cliing hit indus-National Distillers

[National Lend trials, and

many blue chips New York Central closed with losses of about six-byn Mathieson

Otis Elevators Imperial

Chemials Prelle Gas & Ele

pence.

be worth watching if the market skidded ninegence and Rolls- Pacile Western Of

Royce lost one shilling three on Amerlent Airways

continues to fall,

Rubber shures have been with Singapore raw neglected material prices flown from 123 to 110 Straits cents a lb.

pence

Paramount Pictures Parko Davis Co. Penn, Balt Co.

Continental selling blasted Philips Petroleum German Potash Issues, which Pattburgh Plate Gi closed £4 and £5 lower. Young Radio Corporation

Republie Boel Loan non-asented dropped £1.Reynolds Metal and the assented closed by £2. Sinclair Oil ...

Un- Bocony Vacuum mostly

Standard Brande Eendard. O of tri, Standard O2 of Ind. standard Oil of NJ. Streling Drug Co. Riokrly-Van Comp.

London Foreign Japanese

Exchange

closed today in guilders per kilo-New York

Montreni

gramme, çli Nov, as follows: Amsterdani

27.40

24.00

23.00

No. 1 rubber

23.10

No. 2 rubber

No, 3 rubber

No. 1 répo

34.50

30.10

Bruseks

3.02 paid Copenhagen 3.00 paid Frankfurt

2.90 buyers Milon

3.39 nom. Unlied Press.

T'arts glockholm Zurich

Others

Press. in the new

Egyptian cotton futures market cre reported at 3,820 bales..... equal to 1,914 bales bought and ail. The now market is still in

Its early alages of development, Contracts in the American futures in October totalied $14,- 300 bules. Equal to a daily

of 13,257 bales at crago

com will10,041. heles in Murod September and 1,477 bales in August

São Paulo, cotton prices wära wlavallable—United Prosi..

NEW YORK METAL

FUTURES

Now York, Nov. 3. Prices of metal futures closel today in cents per lb, as follows:

Nov. Lend

74.876 Dec. Tia Nov.

Dec Copper, Nov.

Dec

WETH

London, Nov. 3,

clianged.

were

In gold shares, F. S. Geduld ank to a new low for the year,

British Government stocks Studebaker Packard Comp

most of the day wit! & Co. were mostly

frm at the Union Carbide

Texas Co. close.-United Press.

Union Pactile Hallway Votted Aircraft

moved ahend and

U.S. Cypman nabier

NEW YORK COFFEE│13. Empting

MARKET

New York, Nov. 3d Santos "8" coffee futures tochy, glóneck 45° to 70 pointa lowor with sales of 100

New York Foreign contracts.

Exchange

14.25h

[95,000

Canada

14.50b

Ded,

46.181

United Press,

Indi Pakistan Others

were

·Spol Santos és déclinéd 14 cent to $4 ́éenta while Colohi (binne moyõüüp 9 16 1611⁄2

Priced were:

| 17,6, #teet +2

Werner. EYDE, Wewiftubouse- Woolworth

Jeetris

Activity in the world contract developed between dealers and Domesuc other trade interests, futures eased with the lower raw market; Futures.

2015

38

7031

6511

Contract No. 4 (world)"

40.

Mar.

3.20

2016

3.20

July

321

Sept.

221

Spot-(cents per lb. fab

Cuba)

3.20

Operi interest: 2,404 contractu

May

Contract No. 8

4.39

July

1.48

Sept.

4.35

Spot (cants par ib. cit NY

ex-duty) Open interest: 400 contracts.

0,00

United Press,

LONDON METAL

PRICES

London, Nov. 3,

The in market was steadier

this afternoon. Other metals were 2016 | also steady but quiet. Prices, in Unaled "Prem

Exchange Rates

Tel: 26651

sailing Nov. 5th

sailing Dec. 3rd sailing Dec. 81st

FAST FREIGHT SERVICE

... sailing Nov. 7th sailing Dec. 9th

HONG KONG-MACAU LINE

M.V. TAI LOY

AIR-CONDITIONED ·

SPECIAL TIME OF DEPARTURE—H.K./*

FRIDAY, 4th NOVEMBER

*6.00 P.M.

BOOKING ÖFFICE

Lobby, Fu House, Ice House Street

· KEE SHIPPING & TRADING CO., LTD.

Tel. 88091 & 26719

sterling per long ton at the end THE "POST" TYPHOON MAP

of the unofficial afternoon, sosálon were he follows:

1. Opat

-month Business, was done the local Copper khorselata - eRITATIN 'market?-- Usta morning at the #ollowing su tur sales3-month

"Todorokin', naplati (pēFSS160) Marry" Slonza] (per 100)

buyers agilofa

170 and TYPHOON, TABLE

758%

Mounted $5,00 Untibunted $4.00

Giving bearing-distance and timű-dietanow for typhoons tikały t affect Hong Kong. A useful adjunct to the "Post" Typhoon Map.

$2.00 Mounted

Još Obtainable promtinagg

· 2016

Unikki Pres.

SILO SOUTH CHINA MORNING POST:

́, HONGKONG & KOWLOON