TRADE
THE CHINA MAIL, FRIDAY, JANUARY 6, 1956.
and
COMMERCE SECTION
SHARES MAKE NEW GAINS RIGHT TRADE POLICY
BUT TURNOVERS
ARE
SMALL
DOCKS IN DEMAND
BY A SPECIAL CORRESPONDENT
The share market inactive over
Wat
dull and largely the Christmas and New Year .holidays but prices continued their slow climb
upwards with only one slight check,
* The Share Market
IK Wharf
IIK Dock
*Provident
· Hotels *IK Land
18.00
71
73
down
+$20
At A
Glance ★
Jan '85 Dec '05 Jan 3·
Jan 5
Up or
High Nominal 1958
1956
*HK Bauk
Lombard
2200 50
1755 - 65
1760
1705
+$28
6530
БВЬ
Mesdy
• Unton
000
935
ото
190b
Underwriters Union W'boat Wlock M'den
10.00
9.80 9.300
9AD
- 400
21.20
£3.30
7.50
8.40
23.300 $.35
23.30 indy
R3
10
28,70 10
20.00
214
15.50
15.50x
17.80
17.40
8.30 ----56
stendy $214 -160
+1 15.10 17.60
62
63
25.00
19.70
18.700
2,20
1.00
1.85b
22.00 23.60
Her Ferry
138
136
Yaumatis
101
103
102b
Ch Lighla (0)
18.00
£2.80
with
22.80
the
Ch Lightm (1) Electric
15.80
16.80
40
4214
JIK Telephotu
3614
33
33b
4212
3614
23
19.30
19.30
13.39
13.10
Lane Crawford
20.80
3414
15%
6.10
6.60
6.70b
6.55h ---150
4.65
5.45
5.60b
5.60 +150
Textile Corp Nanyang
6.80.
5.85
5.35
5.50 -50
9.50
7.85
7.850
On
The total turnover in the last seven days of trading-since my last weekly report appeared- was $5,050,000. This is below the pre-Christmas average of about $3.5 million a week." The dullness, however, might be described as seasonal.
active Yesterday's market appeared more turnover at $1.22 million and some good rises on
day but I understand this was largely due to increased Jobbing activity, and not to any significant increase in investor interest.
Banks and Unions
wire
Dir The Arst two columns in the table Juday show however tut
best performers Bunk put on Just 335 yesterday ($40 in th fortnight while Unem adtfest $20 to market price ($35 in the not forlagt) to closer $890 bayarN.
Dockk
Curtinue to be active
Fond sales on new report of
Why these new parts are culating. I don't
Pompany
it is hurdly correct to say that tzcks closed higher than
Trader
graph
to
Give
...រ
the year's opening prices. the contrary most were lower. Besides 1 tried to make it clear in my remarks that the
intended win: simply
rough (but not The accurate; know
idea of how shure Defees
moved
would B01 possibly be accurate boemise Ühe
which
A graph At best.
Las already
rather agreed low self the fune
hom site The Agirre i beurd Stock Exchange supplies no was around $3 million to be, inther paid in Instalments
tion likely
from
Contierna-muld be constructed.
be Trade then it could only be guesswork.
until the next ammaal meeting. howeyer.
As for as I know this is the land the Dock computer dates. for sale at the present
Another Hope
55-6
I und
anything altempted amblulow (which I con- all sidered quite impossible in the
time at my disposal) 1 would ! perhaps have used horizontal well in perpendicular llacs and have moved the graph line for September. October, November and December up slightly and the January boom point slightly lower, but still to a point above The December closing levels.
Yet Ducks yesterday were one of the most active shares on the mucket.
4250 The furtorvet and the prier rose 50 cent from $31% to $32% during The day. The other hope in seems to be that the company
from will make a distribution
inarke!
the proceeds of the Hunghơm sale and this possibility might have attracted some buyers yesterday. Another share influenced by lond sale rura was Allied --on reports that the Tungkong and Chine Gas Company und ald fond for which tenders were recently called
I understand that the Ardan, Itond site has been sold but my guess is that the proceeds will be used for further expansion of the Gas Company
ex-
A good balance sheet is pected from Hongkong Land and Investment Company creased profit is again expected. This company has done well in the last few years with profit up : from $1.6 million in 1952 to $0.b million the year before last,
The shares were active yester. day rising from $62% to $63% before closing a shade of their, best on a turnover of 1,819 for the day.
Some Good Rises .
Utilities have made a fairly bright showing and there were Best some good rises this work were Trams (up 80 vents to
$24.60), Electrics (up 50 cents to $424) Telephones (up 50 cents to $33%).
In other
the sections of market, rates have been well malataleed.
Wheelock Mardens have not done anything exciting over the holiday break
and
moves
Are 10 cents below their late De- cember high of $8.40. Brokers do not expect any spectacular
in the near future. Yangiszce are also fractionally off on a buyer's bid of $0.55.
Rubber shares have been dull in sympathy with the slight decline in the price of the com- modity in Singapore.
No Selling Pressure
TODAY'S
SHARE PRICES
(From Our Correspondent)
this
Business done on the Hong- kony Stock Exchange morning amounted to $800,000, Noon quotations and the morn- ing's transactions:
SHARES BUYERS SELLERS SALEN BANKS
ITK Bonk
91 1800 INSURANCES
Aniom
2010 Lombard SHIPPING
Waterbost DOCKS, E
K Whart Dock Provide
whicciork LAND, ETC
HK 1
1790
( 3012
23 40
30
10.30 15.00
850 3.40 2000 » 1,39
#7.40 1615
JK Land
ically
1213
RUBBER
A Italber 1125 Trust UTILITIES
Train
27253
24.00
1000 ES
Y'mal Fery 100 100 100
"Humphreys
HK Really
HK Tramu
*G.1. Cement
Dairy Farm
A.S. Watson
Yang taze
Allirel
16.902
63 steady 19.70n steady
1875 +12ý® 24.60 +500 12701 steady 104
17.10 +-20c
23 +200
+5:00
+500
4214
2244
37 +500 19,20 steady 13.10 steady 350 steady
1.00 +Bo
Irregular Trading
Follows Ike's
Union Message
New York, Jan. 5.
Stocks closed narrow and mixed today when late selling erased a good portion of the gains piled up following release of the President's State of the Union message.
Wall Street found nothing in the message not previously discounted and thus initial reaction was one of relief, putting the list up, as there was nothing to depress the market. However, there was nothing to bolster it either, hence the return to irregularity.
Volume
tracting
WORLD COTTON MARKETS
New York, Jan. 5. Cotton futures became more of a two-sided affair today. 舞鶴 traders attention centrated Washington developmenta
Now chop deliveries showed
OR
relative strength, reflecting proposals to boost farm income, and Administration plans cope with disposal of existing agricultural surpluses,
At the close the list ruled 4 points lower
to 37 points higher. The market opened off to up 8 points. New Orleans clorod of one to up 24 points.
- Nearby deliveries lagged, part- ly because of March contract liquidation and the quiet de- mand
and for
spot ootton, Buyers hesitancy also reflected a dis- position to awalt news on the outcome of bids recently sub- mitted for
of the purchase cotton out of the
Government surplus stock.
the
Guesswork
Guesswork continued በኃ to probable level at which government would accept bids. Some observers risked a theory that the basis might be around under the o pound six cents
domestic market present various grades and staples. finite news on that score Was expected over the weekend.
The certificated stock di clined 19 bales to 17.735 boles, Holiday conditions were flected in Jonn entries for the weekend Dec. 30. Now entries amounted to 277,900 bales, or about half of the recent weekly
re
Page
WORLD
Take Shackles Off RUBBER
And Let. It
Grow Says Butler
MARKETS
New York, Jań, 6.
Rubber Jutures today closed 24 points lower to. 3 poinla higher with soles of 137 tracts,
of
con-
Dealers said most of the busi- ness in the terminal market was the speculative origin with rank and Ole of tradera rather (пеел- new pending
11VCS.
London, Jan, 5. *Mr R.
British cautious A.. Butler, former Chancellor of the Exchequer, recently said here that the right trade policy for Britain interest remained at a sub-
was to "take the shackles off world trade and let it grow."
But, he warned, that was also a very testing policy when it exposed British products to the full force of foreign competition.
machine
Still Importing
Duliness continued in the pol market Factory and denier buy-
routine pace. The few reported sales included April one wheels at 42% cents with further sellers
ut that level. Spot No. 1 Ras were quoted nominally at 44% sents Futures.
March
May
Jetty September December
LONDON
No, spot o Settlement house term!
Tob.
Mar
April/June
July/Sept. Oct/Dec.
46.30 44.10-31
30.00 38.for
34.70
30%-333
el OVLT 1 century ago, steadily. Defence orders should Disraeli warned the country that be easier to carry out now with- the Continent would not suffer out hindrance to the industry'n · England to be the workshop of exertions in other directions, The market was steady with the world. The
An increasingly powerful pull | mot quoted at 38a1⁄2 perice per lb. recent rapid of the German had been coming recently from Prices recovery
home industry. mokers had been 14 painful reminder of the fact. If Disraeli had been able to look further ahead, sald Mr Butler, he might have coupled America with Europe in the warning.
"It is true that we have been, holding our own in relation, to American machinery exports but only at a time of dollar discrimination," he said.
The former
Chancellor was speaking
at the British Engineers Association luncheon, The Momentum
Logother accounted for two-
Over
Metals, machines and vehicles
for afths of
the total Increase in De-
industrial output between 1948 and 1954, Mr Butler said.
Recently, the momentum in this--the engineering Industry- and the
the economy as a whole had The country been impressive. was fully employed and the a sub- engineering
had a Industry stantial excess of vacancies emp employment Industrial output as whole had again risen by the nct stock of about five per cent last year. held by the Britain had been consuming nounted
more and investing more. against only
to worry "What Is there 1,672,954 bales 10 the game time
said. about?" he
"A moving body will, the engineers tell us, continue its motion without aid with. Unfortunately all countries, and this country most of all, move in a world largely made up of interferences.
average.
However,
1965 crop cotton Government 5,431,984 bales
last season.
10
Trading volume and open in-
as fol-
terest today on the New York if it is not interfered Cotton Exchange were
lows:
Open interest
301,000
oth
Mor
May
Volume 10,200 10,400
637,200
July
10,500
235,900
18.000
103.700
Dec.
12,600
160,400
Mor.
4,500
$8,000
May *T[
5212
10,800 2,700 79,000 1,030,400 holes
NEW YORK
Consolidated Edison Continental Oil Del Continental Steel
10
un
Corn Products
Spot
Crane Co...... Crown Zellerbach Cuban Amer. Super Curtia Wright
Mar
May
July
231M
Oct.
Dec.
4945
Mar.
May
only | Commercial Credit totalled 2,110,000 compared with Commonwealth Elec 2,290,000 yesterday
The Hist
a bit was of balance, measured bath by the Dow Jones averages and Stan- dard & Poor's calculation of 90 storks The latter showed in dustrals down 10 cents, rafis off 20 cents,
bul uilities up Sx Leents on the day for an overall į decline of seven cents.
Oils Best
Oils stood out as the day's best performers with gains ranging to more than 0 points in Houston Oll, nearly 3 in Philips.
Metals were strong also,
Diamond Alkali Dow Chemicals Dupont de Nemour Eastman Kodak
El Paso National Ons Peto Italkroad ......... Fandie Finanos Corp. General Electric
General Foode General Motors Gen. Pub. vel
Gillette Safety Bazor Glidden
Co...
Goodrich (B.F.) Co. Goodyear Tire
Heyden Chemical Homatake Mining Co. Ingersoll-Rand
inled Steel Co.
104 Cerro de PASCO and Union Interchemical Cup.
Carbide off a voint
000 03 2400 1700 24.70
300 300 C Light 10) 20 236,000 # 23.90 CTN 17 17.10 2000 og 17.10 | each.
Electric 421 422 400 7 43.75 500 42,75 TO DE 42,78
Manu Elec. 9.20
..IN Telephone INDUSTILIALIN
Cement
33% 33% 2000 «p 2015.
37 371 2000 37
1000
100 * OT 200
10 60
Пора STORES, ETC
Dary ...... 18.00 10.00 500 or 10 Watson 1340 10.40 D009 6 13.20 L. Crawford M COTTONS
Textiles 5.75 0.05 1000 62 383 Nanyang N, 7.10
Entertainment 28 20 Yangiste... Gro Allhed
Over the holidays the pattern MISCELLANEOUS of trading was fairly dull with scattered rises recorded herg
and there up to Friday, January 30 when in the afternoon, light- scalo prost-taking clipped tack some of the week's gains.
Since then the market has been firm and most shares have made up their New Year's eve Josses.
1000 0,00 465 BES 400 4. B.00
London Fofeign
Exchange
Now York
But the obvious comment La Montroal that shareholders seem quite Amsterdam satisfied, with their holdinga at Bla present and there is no indica Copenhagen
Frankshire flon of selling pressure any- Milas where on the market. At this Paris stage it is possible to forecast a Blockholm
Morich
London, Jan. 8.
2009-2.80}} 2.0015-2.301 10.813-10.02} 130.674-130.1ä1%
11.73-51.7335 7704550175 D0446-904T 14.50-14.03. 21-2416-12-2534
continuation of the present others were unchanged trend next week.
And this is the · rather un-
inspiring note on which 1950
-United Press.
beginsquito a contrast to Janu New York Foreign
ary,
.at
1955, when the market was
the peak of a boom brought about by the influx
of money from the outports of Southeast Asia
There is one final duty, this weck:
Exchange
Int Business Machines
or more trt'l Harvester
Ralls pulled the list down late in the day when Southern Raliway fell 2 points.
Sulphur stocks were strong. Of a total 1.170 srucs 672 were higher, 303 lower. Activi- by centred in General Motors, New York Central and Philips Petrolcum.
Eternational Nickel International Paper Int'l Tel. & Tel.
John-Marrville Co.
Karene Co. Power & Light. Kennecott Copper ..... Liggott Beyers Tob. Co. Locktreed Alperen .... Loown Incorp. Lone Star Cement Co. Louisville & Nashville R. Lowenstein & Sons.
Mesalit Iron Corp. Minnesota Mining Mision Development Monsanto Chemical Co. Montgomery Ward
| Motoroja Ine.
National Cash feg "A" National Dairy Prod. National Distillers National LeRÓ ******* Mational Steel Corp.
New York Stock Exchange bond volume was $3,000,000.
American Stock Exchange volume was 650,000 shares.
Dow Jones closing averages New York Central
WETE:
Olio MathJesses Owen-linols Glam
484.02 Pafic Gas & Elec.
Pacing Western Oli
Pan American Airways
Paramount Pictures
39 industrins .......
20 rail
100.85
18 utilities
53.00
US stocks
170.00
40 bands
98.30
Cum, future price index
103.24
Penny J. C. Co,
Comm, spot future index
101.03
Ponn. Balt Co.
Moody's Index
400.30
Philip. MOT
Closing Prices
Alden Inc. Ary,
Allied Chemicala
Allis Chalmer
American Airline
2436
American Cypride Co.
00
Ám, Mathi, &c P dry.
American Metal
American Smelting
Am Bugs, IRË. STRO
Amerionis, Del & Tai
American Tob
Anaconda Copper Armen Ste Armour
Baldwin-lama-Ham. Daimore & Ohio New York, Jan, 8, Tandix Aviation Con England 30-day futures.-2.80+6/32 Benguet Co.
„po-day futures: 123-12/32 -- Zielskabsmeri übert Belgium
„1000-8/48 | | Douigs Asplade Svojo
In reply to the porrespondient FLI have included asterisks #poti close
(denoting a new or bonus issue
In 1955) against the names of
frguing: nompanies which warn | Ndtrue;
misumir from last week'n ·Labše
of sharp Delon L. ADOLORI for
tha inadvertent, omissions
1.00%
Bordin (The) hurrosigns Add
Canadaa PWELIK
Chum płaski
Parke Davis Co.
Pyllips Patentesin
Procter A Carable Co. Putsburgh Plate Glam Publicker Industries Pure Oil YAN Radio Corporation Reynolds Mulat
Shell Oil Co.
Baint Rog, Paper
Sinclair Oli
Bocory VarUUM Bouth Porto Rico BERSU Bouthern National Ger Bouthern Raliway: (Com.)
Prices of futures closed today as collows:
NEW ORLEANS
Matter Of Concern
"That is one reason why we nood
a more substantial surplus then we have been getting in our current overseas balance; it can give us that extra strength to resist the unpredictable,”
It was a matter of concern for every one when they saw im- 33.89-00 ports rising strongly as a result 33.25 31.79 of the buoyant market at home, 30.02-03 while exports-although stili Increasing--are not increasing enough, sakri the former Chancellor.
35.000
3041 30.25 30.12
Chancel
Referring to defence orders,
Mr Butler said the defence load
Prices of futures closed today had for some time now been a
Es follows:
Spot
Mar.
May
July
Oct.
Dec.
MAT
May
LIVERPOOL
33.00 33.00
33.29
31.82
30.02-04
30.40
30.23
30.06
Future closings, in pence per
ib. as follows:
Old contraCI
2016
March/April
May/June
32
July/Au
New contract
May/June
BELA
July/Aug
OcwNov.
Dec./Jan.
Egyptien Kamak Jan/Feb.
In
the
39.00
stabio clement in the output of the engineering industry, while total output had been
rising
London Stocks Dull And Irregular
General markets, cif basis,
Jou. Feb.
"We must certainly not hold back developments essential to the export trade and to the basic industries and services," he said, Estate crepe in Jan....
but some deferment of less urgent developments will help to restore balance in the economy and case the demand for steel and skilled men."
Despite the increase in home Britain steel output, he added, was still Importing it at con- siderable cost to the balance of payments.-China Mall Special.
thick unquoted AMSTERDAM
The market was quiet.' Peters 2L guilders per closed today kliogram, cit January as follows:
1 rubber No. 7 rubber
No
No. 3 rubber No 1 crepe...
3.87 buyem
1.53 buyera
3.48 buyers
3.22 buyers
The Singapore rubber pries were unavallabic.---United Press.
P&O B.I. E&A
COMPANIES.
PENINSULAR & ORIENTAL S.N. Co.
*PASSENGER/FREIGHT SERVICE
Outwards "CARTRAGE”
"CHIUSAN" "CORFU"
“CANTON"
Leaves London Due Hongkong
Salled
1st-February
0th January
14th January
7th February
3th
Morch
Via Southampton, Port Said, Aden, Bombay, Colombo, Penang & Hingapore
Leaves Hongkong Due London
Homewards "CARTHAGE”
13th January
*"CHUSAN" "CORFU"
20th January
"CANTON"
10th February
9th March
13th February
27th February,
12th March
DIN AMER
Via Singapore, Panung, Columbo, Bombay, Auen,
Port Bald A London
★ And Calls Marseilles.
"SOMALI"
"SUBAT""
FREICHT SERVICE
Fonds 10th Jao. for S'pore, P. Swellen- ham, Penang. Aden, Port Said, Genoa, Mar- Aries, Havre, London, Hamburg. Notterdam & Antwerp
fuc 3rd Feb. waits 6th Feb.
from U.K.
for Japan
With liberty to call at Belawan þefore or after Straits Ports and at Bombay if inducement offers. Tanks available for carriage of Oll in Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
1850 A HUNDRED YEARS OF SERVICE-1050 "WARORA" sails 10th Jan, for
Bingapore, Chit- takong & Rangoon dae 18th Jan from Calcutta, Rangoon
& Biraits afik 10th Jan. for Japas
Stocks
London, Jan, 5.
were dull
and
"SANTHIA”
"SANTHIA"
United States. the average price or 15/16 midding irregular on the London cotton nt 14 designated spot Exchange today,
markets woe 23.78 cents, Sales totalled 22.443 bales-United Press.
Late trading saw zecovery in the main body of stocks from earlier
softness as corporate news continued favourable,
A feature in the industrial section was Hawker Siddeley
New York Sugar which Jumped three shillings on
Market
nows of a technical advance on
new jet metal.
Oll shares improved toward the finish, bolstered by buying
Shen,
in
Small Net Gain
New York, Jan. 6. World No.
4 sugar futures closed today @points higher with sales of 116 contracts..
Domestic No. 6 sugar futures 1 point closed unchanged to lower with sales of 23 contracts, In world rows, dealers re- ceived reports that another bulk cargo of Cubans sold Wednesday Steel off by more. to a British renner, at 3.23-cents
It closed with a small net in. Royal Dutch, which went ex-dividend, also Improved.
Dollar stocks lost up to $1 Bethlehem with higher priced
shares, met beavy
Other reports, suld the Fating niter their recent
a pound, fob.
pean inquiry for rows Blackened as the barvest of European beet peak, maar is reaching Ita Futurea:
blo Contenos No. 4'' (world)
Maria
May
July
advance.
Belish Government bonda closed firm with small gains among medium and long-dated issues. Gold shares, copper and base metal iešues drifted lowET,
United Press".
Exchange Rates
Pinoting at they following Zater
יו
salls. (Us Feb... for Singapore. Penang & Calcutta
P. & O./B. I. JOINT SERVICE
"ITOLA"
"ORMAKA"
"ITAURA"
"OZARDA"
vatis Din Jan.
for: Singapore, Biadras, BONDAY, Karachi. Bas- rah, Khorramshot 4 Kuwait
due 12th Jan. from Bombay
Bails 13th Jan. for JapALKİ
foads 20tli Jan for Singapore, Colombo..
Karachi, Basrah, Khor- ramshalir: & Kuwait Jandy. 2nd Feb. for S'pore,... DOMBAY, Bhavnagar, Karachi, Basrali,
Khorramel:alir
* Kuwait
EASTERN & AUSTRALIAN S.S. CO., LTD.
“ARÄFURA"
tonda 0/7th Jan. for Sandakan, BAÐAUK,, Brisbane, Sydney, Mei- bano Be Adòlakte from Australia.
In Port
xile 8th Jan. for Japan.
All vessels hayo liberty to call at any poris on or off the koule & the route &: sailing are subjeos. to change or amendment with or without notice;
Fur full particulars apply bes MACKINNON, MACKENZIE & CO. DE HONG KONG LTD.
Telephone No: 27721
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