TRADE
THE CHINA MAIL, FRIDAY, DECEMBER 16, 1955.
and
COMMERCE
SECTION
SHARE PRICES CLOSE HIGHER London Stock
Turnovers Still Small In Quiet Trading Conditions
Vi
BUT A NEW
Q
OPTIMISM
By A Special Correspondent
A general shortage of scrip at buyers' rates caused a slight hardening of prices on the share market on Wednesday and yesterday.
The market closed the week on a firm note and there appeared to be an improved undertone.
Trading conditions have been generally quiet. The turnover amounted to just over $3 million compared with $3.4 million last week and 32,6 million the week before that.
The week's volume of business |), ck, any real incentive and the is ther ulsappointing. On ons light improvement In prices two days of the previous may peaubly be due to the ap- week the unwaver topped the path ca the d vidond season $1 mili: T mark and it was with sure yields showing quite hoped that this was an indication in attractive return at current of growing Justerial,
ievels"
The best daily turnover thus week was $780,000,
A Fenditur
broker
suid
yesterday
"The marky
WORLD
COTTON
MARKETS
New York, Dec. 15. Narrowly irregular price changes accompanied a slow trade in cotton futures to clay,
Tive 17:
New Optimism
And
brokers other !INTE threye was new optimizin about it graduat recovery 12t
prices in the new year. They stress, how- eyes. It will be a slow meet
KIVC
in-
Tu begin
I should with apologise to those readers who consider that I devote an ordinately large portion of this
lumn to comments on Whee lock Marden shares. The fact s that Wheelooks—possibly be- cause they are in a lower price bracket than shares like Lights, Elcotrien, Telephones and even Providents are probably more widely held than any other in the market.
I said last week Mr Marden's remarks at the annual meeting should show some light on the
mpany's operations in the frat
The chief barls for their eight monthì of is year. And uptimisin is that Chinese banks here are the relevant state with slightly more liberal credit | maents: facilites then the Big Threo British banks may provide some
of the cuuite) for share investment.
The Share Market
At A Glance★
(From Our Correspondent)
+
Up or
Share
Nov 24
Doo I
Deo 8'
Deo 15 down
HK Bank Unions
1085
1905
1680
1090
+$10
915
915
HK Whart
72
818m
710
915b 09
Londy
TODAY'S SHARE PRICES
Wheelocks
8.03
8.30xd
B.15
8,18
steady
Providenis
14.00
14.50
14.50
14.70
+200
UK Docks
27.60
27.80
20.10
29.80 -400
17.40
17.10
17.30
17.40 4.106
6014
60
5912
60 +$1
22.90
22.60
22.30
Yaumati Lights (0)
105
102
103
22.30 +500 101
22.20
22.20
21.40xd
(n)
10.00
16.40
10mxd
21.70 +300 18 meld
3914
2014
20%
3914 +250
SHARES BUYERƏ BELLERS SALES BANHA
azi
114
32
344
+250
HK Bank
.1063
INSURANCES
8414
3314
8414
+800
Union
913
Dairy Farm Yangtze
18.80
18
18.30
184 +-200
Lombard
等
0.80%
014
6.386-180
BHIPPING
Waterbont
23
DOCKS. ETC.
K. Wizati
07
Dock
2911
500 0.70
14.90 18.10
833 8.48 2000829 2000 8.45
Hotel Labd Trai
Electric Telephone Cements
New York Stocks Down Again
New York, Dec. 15. Stocks turned in their fifth decline today without any real pressure.
The selling seemed designed to uncover a level at which new demand would appear for issues that had been marked up sharply in last week's climb luana: Japan to new highs in the industrial average.
He disclosed that the for
"Shipping expanded
which has been
the
They are also incl'ned now to take a more sanguine view of
instalment Last
uf the the Hongkong and Shanghai Bank's vreter restrictions. This, you with remember. Came Buyers and sellers operated form of a reminder to some of lend 13 raudously pending Washington its clients that it will developments
export i maximum at 30 per cent against programmer and farm legislo- | share securities whereas in the tion.
past it had been in the habit of Toward the close the trading | fending up to 50 per cent. pace quickened when brokers
time of this new with mill connection Were NV-
around squeeze I reported that only "a nusiber" small nearby comparatively
would be affected by this. I
iner learn from fairly reliable, ources that actually only about 30 or 40 people received these "reminders".
credited buyers of
10,000 bales In the
months.
Closing on a rally, the list finished not 19 to 23 points higher. New Orleans clused up 13 to 21
points,
14:0
Extra-heavy entries under
government loan
grainme,
pro-
and the sustained
brondscale demani for textiles,
WITC
stabilising factors
unsatisfactory,
AL The
now
1241 W
nguro
"reconstituted
in respect of certain changes in our debtor clients" has been re- duced by a further $2.500,000 since the close of the financial This brings the fiqure year. down to just over $35 million. The company has also received $2 million in interest,
One comment here: the word "loabs". which has been used frequently in this column and Indeed in the company's OWTI balance sheet, is not really
In fnet. they are rorreel.
mounts owing to the company for ships bought by various in
arests in Japan.
Un To Date
זיון
Paramount Pictures
Widest declines Were in Pusing Gas & Eles... issues where pront-taking was Pan American Airways in order and there were Parke Davis Co. numerous wide gains in special | Penny 1. C. Co. issues. Truding light.ened, d.up- Peon. Batt Co. ping to 2,260,000 shares from Morris 2,070,000, the smallest total
since November 25.
Philips Petroleum
Procter & Gamble Co. Pittsburgh Plate Glass ixa.j |Publicker Industries
Pure Oil
Industrials closed 0.12 lower Radio Corporation Оп uverige, with American Republle tal
11/4 Tobacco, off
Bethlehem Reynolds Metai Steel 1%. Texas Co. .
Raile lost 0.42, with a 2 points drop
in Valon Paciic weighing heavily.
од
Shal Oil Co.
Bain! Reg, Paper Binclair Oil
Босопу Уасишта
Fouth Porto Rico Sugar Southern National Gas Southern Balw*y (Com)" Riandard Brands honderd Oil of Ch Standard Olt of Ind
Tide Water An, Dil
Twenty Century Fox Film Union Carbide
Union Pariété Railway
United Aircraft
UB, Gypsum
V. B. Line Co.
Market
Page
Singapore Stock Market
Singapore, Dec. 18, Brokers today quoted the fol- London, Dec. 15. -lowing stock prices;
Opening Government warnings of
Balu Lintang Rubber Co.
$1.85 Borneo Petroleum
a crodit, squeeze and wor- Ltd. ries over a possible decline Britis
Byndicate
Ord.
in gold reserves brought a consolidated Tin Smeltern noto of uncertainty into Frater & Neave Lid. Ord. trading on the London Frazer Stock Exchange Many sections closed lower,
23/04
30/-
$1,70
prof
Neave 711 cum today. Hongkong & Shanghai Bank-
60.00
ing Carp
SIDD
Hongkong Tin Ltd.
Kempas Lid.
Lunes Rubber Estates
0/- 3.13 $9,701
Malayan Breweries
Now Berandah Rubber Co.
Lid.
$1,25
losses.
Petaling Tin, Ltd.
$4,42
Itanics Hulel
$2.351
Hingapore Cold Storag
$1.00
South British Insurance Co.
Ltd.
Straits Trading.
Btraits Steamship
strongly
United Engineers Ord.
on
Wearne Bros.
Then
Industrials attracted little sup
Business done on the Hong-
Exchange kong Stock
this port, and Gnished with a good
fractional of moting amounted to $280,000.❘ number Noon
Woolworths, and the Unilever, And quotations morning's transactions:
Courtaulds all skidded about a shilling.
Provident
Wheelock
LAND, ETC.
HK Hotel
HK Lind
1715 17.co
Bi 131
(Rts.] 30%
RUBBER
A. Runber 165 1.80 Trut
UTRITES
Tem
Star
22.00
Steels
opened good production reports. they faltered. A late recovery
$7.001
ea xd, China Mall Bpecial.
managed to give several leaders London Foreign
gain of a shilling or more.
Oils were mixed on limited dealings. Royal Dutch fell more than £1. Burma and British Petroicum were other losers, but Canadian Engle wont ahead 0011⁄2 on buying support.
Exchange
New York
Montreal Amsterdam Brussel:+
Frankfurt
Labon
Milan
British Government stocks advanced at the opening, then | Paris ensed to yesterday's closing Blockholm leveia, A tow Issues showed Zurich gains of around 2. 100 103
300 23
102
Ferry 30 Y'matl FOTTY 103 100 200
29
C. Light (0) 21.00 22 JP of 21 70
1800
C. Light (N) 18 20 Electrie
INDUSTRIALS
Coment STORES, ETC.
Dalry Waterm
COTTONS
Textiles
40 401 000
100
304% 37%
34% 35%
...... 1815
Gold shares weakened after Ď were dull.
London, Dec. 10.
2.00-7.40-7/10 8.50-1.00-0/10 10.0x20.0 138.04-139.83 IF.74-11.7435 20.05-80.10 1761-1763
95352-9817 14.533-14.521 11.23-12.3396
Others wero unchanged
United Pres.
Arin opening, and coppers New York Foreign
In the foreign Scetion, GermBAN Potash bonds continued their
Exchange
recent sprint, tacking on gains England-oficial
$2801%
New York, Dec. 15.
30-day futurms ....
Others were unchanged
of around £3. Japanese wero
unchanged United South Africa
... 15.20 13.40 500 13,30 mostly
Press,
MISCELLANEOUS
491L
173
37
Yangiato
4012
4015
Allied
5.70 0.80
$35 0.50
BAU
WORLD
RUBBER MARKETS
New York, Dec. 16.
Rubber tutures today closed
100420 points lower to 50 points
higher with sale of 173" con-
tracts.
Trade interests and commis.
sion houses were on both sides
the market.
Reportedly,
of contracts also accounted for Lome of the business.
Traders awaited confirmation
2.00% 1.80 United Pream.
P&O B.I. E&A
COMPANIES
PENINSULAR &ÓRIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards "CANTON" “CARTHAGE”
"CHUSAN"
"CORFU"
Leaves Landen
Sailed
lih December
4th Januns
Due Hongkong In Port
0th January
14th January
6th February
Via Southampton, Port Said, Aden, Bombay, Colombo, Penang 4 Singapeta
GOIS
Bundard Ol of N.
14814
Sterling Drug Co.
0814
stokely-Van Camp.
18
Pudebaker-Packard Corp. Swift & Co.
of
21
GR
speculative Jongs
Texas Co. ******
118
March against
sold nearby purchases
of
23
2012
wter months.
Dealer switching
ID
160
69
316
23
of rumours that
the govern-
Homowards
4976
ment bad decided not to
sell
"CANTON".
Ba
0712
the Institute, because all
blas
"CARTHAGE"
13th January
an industrials to 20. ....
Warner Bros.
ID
were considered unsatisfactory.
480,72
We thoug Electale
The
synthetic
rubber
1 utilities
101.00
Wost Va. Pulp & Paper
involved,
$4.62
Woolworth
63 stocka
170.3
40 bands
96.14
United Press.
have
Cram. future price index Moody's Index
131,77
404.49
120,000 tons.
Mr Marden revealed that this gure which represents new business has, since the close of the year, Increased by $12,150,000 to a total of $17 million
Freight Rates
Closing Prices
8 234
2015
Of a total 1,142 lanaca traded there were 517 lower
the dav, 304 higher.
Houston Oll gained more than 3 points in the oils, And the payments, according Faith And Hope
Among high-priced Issues, US to the terms of the various sale nypsum fell 6 to 15, Superior contracts fre at present PP oil of California 30 to 970. Also, at the ilme, SODIC
* date. Also Mr Marden ix-
New York Stock Exchange ferr Bud brokers
that several dicaled that he had every bond volume was $3,682.000. Recounted
for rela ively more people would have to liqaldate reason to hope that prompt
American Stock
Exchange support in the nearby months.
at are holdings to payments would continue. substantial
volume was 830,000 shares. Anticipatin
commencement
their overdrafts to the
Dow-Jones closing averages I Also under current nasets: This does not up- of the government expat cam.
new level pain right after the new year,
mentioned Inst week the figure were: sear to have happened. when around 1,000,000 boles are
.. have for "Shipping loans; Hongkong" So fath art he to be cxpe.ted
sold ut com-been
from $1,344,287 That was restored somewhat petitive prices, dealers wender-olus the fact that share yields $4.679,453 In the balance sheet. ed what level of bids would bejare
more attractive than Commodity they have been for the whole of acceptable to the Credit Corporation,
to this year give them reason Traders understand the De-hope that 1950 may see a more partment of Agriculture will re-active market.
week's But to return to this serve the right to reject bids it
Alden Inc. Agy. considera
which have Un-market. Docks,
Allied Chemicals the last re-been spectacular for
Allis Chalmers confirmed report, indicated Jection might be made it the three weeks over the reported
American Airles bid
more than
sale of company land at Hung- six cents
Shareholders who are a little American Cyanamide Co, Koes
Am. Mach., & T dry. hem. under the current loan value,
lost ground on profit anxious of the situation in Japan americin Metal Producer entries
the close the taking and at under
--although one cannot help but American smelling ken for the week about $1 lower than their high reel that their fears are entirely Am. Bugar Ref. government
American Tol & Tel ended Dec. 9 totalled 503,882 of $304.
at the moment Amertean Tob. "B" hypothetical Hengkeng biles, marking the second wharyta are also lower at $09 that
Kowloon will be doubtless relieved to see Anaconda Copper the weekly im-
this addition has been Armco Steel punings topped the half-mil- and they have lost 88 in the made to the Hongkong figure. Armour
last
Baldwin-Lima-Elam, fortnight. This again is possibly proît-taking after their On the freight morket, MrTO Chlo
Bendix Aviation Corp. recont rise. You will notice Marden had this to say: "The Pensum Cons from the panel accompanying improvement has continued and Bethlehem Steel
article that they rose $5 both freight markets and top- Borden (The) Co.
24 and Dec. 1. between Nov.
nage values may be confidently purch Add Machine China Providents are 20 cents termed strong at the moment, Canadian Pacific R. better on the week at $14.70. 10 This has favourably affected the Cess Co cents of which they gained position of our debtors and we CLT Financial Corp.
Cat. Tractor are now in most cases receiv Celanese Corp. ing large remittances as a re- Chrysler Motors
Colgate-Palmotive Co. sult of Improved fixtures."
Commercial Cred Cammonwealth Elec. On the Bank overdraft: Comwildsted Edition Wharf shares may be enjoy-"(this) appears again in con- Continental Dit of Del, Ing a little more interest in, the | siderable size and provided Continental Steel
Com Producta new year if the trade Agures funds for the financing of our Crane CD... continue to rise. Those released associates and was otherwise Crown Zellerbach
Babe Cuette Weight of our business. I told Diamond Alkali Dow Chemicals Dupont de Nemour
thi
Pan 1955 ment bales.
reason
bale mark. Net stock
in crop cotton
COYCD- hands totalled 4,332,534
The cer ifcaled stock In- er 1,142 to 17,680 bales.
Volume and open Interest were:
This
Open interest yesterday.
Month Dec.
Volume
10,200
M-z.
23 000
437 600
May
21,000
639,100
July
14,200
233,100
Orf
Pin
2,000 10
180,000
in o
Mar,
400
40.000
15.8M
Total
03,200
1,503,100 bala
NEW YORK
Prices of futures closed today
as follows:
Spai
35.05
Mht.
33.03-05
MAY
32.03
July
31.50
Oct.
2016
Dec.
29.79
Mar.
29.31
May
29.33
LIVERPOOL
were
Trade Figures Up
Merind
Alumatons
Flast night show there has been Poing to the increaset Cubiri Amer, Surat
rise in the value of the
million
more
than
In
Satisfaction
P1 Pro National dus Erte Railroad.... Yamily Finance Corp.
Proimaan Kotak
Colony's trade for the fourth you last year when pointing out consecutive month. In July an increase in liquidity that the total trade was valued at $400,7 scale of our operations is auch million. In November it was that no great significance ought valued at
$580.9 million or to have been attached to it.” 64115 October.
In the Utility section, Trans and Lights have had the best of tho, gains this week while Elto- tries and Telephones have made aproated that the report on Heyden Chemicki Future closings, in pence per tractional improvements Yau- 1955-56 operations is hot at Homstake Mining Co. lb. were as follows:
matia have lost further ground nectacular or as detalled aan, flizel Co.
Ingersoll-Rand (or, and are now back to the level they could have wished
Old contract
Dec./Jan. Mar/Apr.
May/June July/Aug.
New contract
May/JusRG July/Aug Oct/Nov. Egyptian Karnak
Jan/Feb.
21.05
24 60
223.50
of Nov. 17 at $101. Lands, Coments
22.30
25.15
20.15 13.68
39.00
BÀO TAILO Future closings, in cruzeiros per kilo were as follows: w
MAND
July
鮮 28.00
In the US, the average, pride
SIPRELOME markale was 88.74
'If shareholders are
General Flectric General Foods General Motors Ben, Pub. VM. Gillette Bafaty. Hator dis-glidden, Co. nue
Deedrich (D. F.) Co.
porribly, as I had led them to turn Machines
International Nickel and Dairy hope) they may chide the chairs Int Harvester
better man for his reticence but they Internetensi Paper Farms are also slightly
THULATUE & TV "it" cannot deny that his remarks dom-adanville Co, this week and in the soctión, Banke and Unions, are provido a certain amount of [[Cansank") Power & LIKE 4. shado
Copper de firmor becasso of satisfaction did contentandoff
scrip.
- particularly for the long-term rett, Mayara con.
Lorkheda Rubber stares, have been chill view. and closed fractionally lower in sympathy, with the alight de oline in the price of raw rubber in Singapore.
This just about complates the market review.uho
Wheelock Meeting :
And now a few points from
cants. Sales totalled 38,708 Kalos: [the WE
New Orleans, pricas were
Myndvico? Put your Whee- locks perin into hideawor, de Icart until the next... ahin meeting.(which r indicates may be darli (year) and fortető) every
ndzet ;; they, minke on the Bhure market
This for theside. @moeling which... ka } stáva ''hi Drövidá réster detallen on: Andsitif Awa
Louleyi
freritt
UB. Rubber
UB. Bresting
US. Steel
דם
unl.a all toge.her three, an estimated combined annual production enpacity
of
In the spot market, routine fuc-
New York Sugar by buying developed along with
Market
a acaler demand, Reported sales included February one sheets
Leaves Hongkong tine London
Joh December
**CHUSAN" 30th January
"CORFU"
16th February
toth
January
13th February
27th February
12th March
Via Higipore, Fenang, Catambo, tombay, Aden, Port Beld & London
* Abe Caite Mixrealijos.
FREIGHT SERVICE
"SINGAPORE”oue 2nd Jan.
опе
"SOMALI"
at 43 cents; May one sheets and at 40 conts
March New York, Dec. 13. sheets at 49 den's pound. World No. 4 sugar futures | Spot
quoted at closed today 2 points higher to 48 cents.
Fatures:
Domestic No. sugar closed unchanged to 1 higher with
No. Ras were
further cut world export quotas | No. 3 rubber per
all 4th Jan. loads 6th Juni.
from U.K. for Japan
for 'porn, P. Swetten- ham, Penang. Aden. Port Said. Genton, Mar Bellies. Havre, London, Hamburg, Rotterdam & Antwerp
With liberty to call at Belawan before or after Biralts- Ports and at Bombay (f. induerment offers. Tanks available for carriage of Oil in Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
In Port
sails 16th Dec,
"SANGOLA"
"SIRDHANA” smile 18th Dec.
calls 10th Jan..
1 point lower with sales of 221 contracts.
March
May
sales of three contractä.
4
107
72
Activity and firmness In world contracts was associated with the recent resumption of closings were: Russian buying of Cubans on a
BOTOO
July September December
SINGAPORE
on The market was easier
Future liquidation.
44.00-05 40.45 38.75-00 37.10
33.75-40.00
| wubstantial scale, traders mid.
Also, traders thought the Inter- national Sugar. Council might No Dec.
No. 1 rubber per lb.
.Dec. Jan. Fob.
rubber per İbi
393% in January. Futures:
Dec.
Contract No. 4 (world)
No. 4 rubber per
Dec.
Epat rubber unbaled
March
May July
3.10
8.17 Blanket crepa
1273-127% 123-123 unquoted
12331-12434
1223-12314 11836-1103 23-100
“WARORA”
3.19
No. 1 pale crepa
133-130
September
LONDON
Spot (cents per ib. fob Ceba)
Contrast No. 6
March
433
No. 1 Repot ....
· 3052-36%
_May.
Settlement house term:
July
September
Pob.
November
Opot
46
(cents par ib. cit NY ex-duty)
"United Press.
MAT,
4.30
JanyMar.
Apr/June
July/sept.
Oct/Dec.
General markets, eit
Dec. JAM
Estate crepe thin
To
Exchange Rates
Budzien we done in Pa Toast unofficial exchange
morning at the following "ralan: US., Godar (per $1}
Størt! noted. (per £IN Australian notes, (per (21) Indonesian rupiah (par. 10)
80% jam tical (par 100)
Snubure (tralia) (pominkite
The market was quiet with spot quoted unchanged at 86% pence, Pricts; «^_
·AMSTERDAM
The market was easy, Prices closed today in gulldors 'par vat kilogram, cif January as followst
this
No. 1 rúbbar
from Calcutta, Rangoon & Sirolts for Japan
for Bingapore, Pesand & Calcutta
Singapore,
tagong & Hangoon
P. & Q./B.). JOINT SERVICE "OBRÁ”--
*་
Chit
Balle 16th Dec. For B'pate, BOMBAY, Karachi Basrah. Khar- ramshahr & Kuwait "ITAUEA" · 4ne 24th Dec. from Bombay
sails 70th Dec, for Japan due 301 Dec. from Bombay
for Japan Malls Sist Dec. lands 6th Jan.
"OZARDA"
“TTOLA"
“UREANA"
for: Singapore, · Madras, BOMBAY, Kazochi, Iar- 'cah, Khorezmahahir &
Kuwail
londe 8th Jan. for S'pore, BOMBAY,
Karachi, Dearbhi, Kho tambang Kuwait
EASTERN, & AUSTRALIAN S.S. CO., LTD.
3.33 paid
No. 3 rubber,
No a rubber.
No, 1, crepe.
3.51 nom. 5.45 hom. 3.85 nom. United Frea
STERN"
MESSAGERIES MARITIMES
VICE
duo cìh Jan. from Austentiæ,
all 6th Jan, for Japan loads 0/7th Jan. for Sandakan. BABAUL, Brisbane, Bydney. Mel« bane, du „Alduleide My Ali ́vezštis kaya liberty to call at any ports on or of the route, a the route de saltling are subjecki to change or amendment with ar withoji netločk
Tve full porbitalars apply t MACKINNON, MACKENZIE & CO. OF BONG KONG LIB.
Telephoon N. 27721 4.
No comments yet.
Private notes are available after approval.