11
Page
THE CHINA MAIL FRIDAY, JANUARY 27, 1956.
TRADE and
COMMERCE
SECTION
Page
Scandinavian Customs Union WORLD New York Market
Talks Open TODAY'S
Today
Copenhagen, Jan. 26.
A plan for the setting up of a Scandinavian customs union covering 45 per cent of trade among Scandinavian countries has been published simul-
in Copenhagen, Oslo taneously Stockholm.
and
The report, compiled by a committee of experts from the three countries- Denmark, Sweden and Norway--will be the most important point on the agenda at the forthcoming meeting of the Nordic Council in Copenhagen, due to open tomorrow.
Continental
Steel Output Much Higher
Paris, Jan. 28.
SHARE PRICES
(From Our Correspondent)
Burines done on the Hong- kong Stock Exchange this morn- ing amounted to $700,000. Noon quotationa and the morning's tranmctions;
SHARES BUYERS SELLERS HALES
BANKS
KK Bank
INSURANCES
Union
Lombard
Underwritærr
★ The Share Market
At A Glance ★
HK Bank Lombard Unich
Underwriters Union W'buat
HK Whart
KK Dock
Provident
HK Hotels
IK Land Humphreys BK Really
G.I. Cement Bairy Farm
63 19.701 1.978
17.20 62 10,700
18.00
Up or
-7bc +100
17.20b10c
RUBBER Turns Irregular
MARKETS
New York, Jan, 26. The No. 1 Ras rubber futures contract today
closed 28, to 60 points higher with sales of 208
contracts.
The standard contract closed
unchanged to 60 points higher with sales of 16 contracts.
New York, Jan. 26. Stocks turned irregularly lower today after two sessions of sharp advance. A few leaders declined a point or more pulling industrials down a bit on average. For the most part, however, changes were narrow.
Bethelchem Steel, whose | Liggeit Meyers Toh. Ca.
Misurano Chemical Co Ponny Co. fractur
Shipment offerings were re-directors met today to report on ported in
and 1955 operations and to take first light supply generally held above a work-quarter dividend action, lost 24 Able basis.
Points to $155.
Factory demand in the spot market was
to down minimant. On a delivered basin. March one sheels were offered at 38% cents; April one sheets
10
Other steck dipped along with
Du Pont slumped 21⁄2 to $218. Interuationel Business Machu.es
settled the
at 30 cents. May one sheets backed down 15 points as the LOVETTI- $74 cents,
With buyers' company ideas around cent a pound agreeing to sell as well as ren! meni's anti-trust suit by under. Spot No. 1 Hes Was quoted 40 centa a pound.
ils tabulating machines,
There were numerous upside features, loo. Shell rose 1% to
the oils, and
& Gamble Co.
Republie Steel Sinclair Oll Bacony Vacuum
Fouthern Nailway (Com) Standard Brands Blandart Of of Cal Standard Oil of Ind. Standard Of of NJ, Brudebaker-Packard Corp. Swift & Co. Texas Co.
Union Carbide
Union Paolile Railway United Aircraft
1.5. Gypau
US. Line Co.
1.8. Rubber
09. Smelting
U.S. Biegl
Warner Bros.
Westinghouse Ricetric high-west Va. Pulp & Paper
Jan B Jan 12 Jan 19 Jan 28 down
ITDA
1780
556
67
1765
sib
1750
B
--$15
steady
900
995
995
steady
9.40
0.40n
0.400
0.40n steady
23.30
23.40b
24n
24b
steady
Wlock Arden
8,30
8.20
8.40
B.40
steady
6%b
70
08b
70
+#2
3214
327
33
3214
16.70
15.20b
15.10b
16.20
17.00
17.30 6215
62
800
20%
19.700 --300
1745
O
30
131750 1745 204740
21:3
100 e 140
11K Trams
24.60
1.923b 24.40
3.976
1.075n steady
24.30
24.40 +100
Star Ferry
13712
137n
135
133b
52
[X]
Yaumatta
104
100
100
103b
-$3
Ch Lights (0)
23
22.30
22,30
22.30
steady
Waterial
24 20
400 24.40)
Ch Lights (n) Electric
17.10
16.70
26.40
-30c
4201
4212
2314
434
steady
HK Telephone
334
32146
13
33%
+25€
Is Whole Den h
เป 1
Wheelock
6 70
17
3614
36*
30
steady
34 1000 mg 32.70
19.30
18.80
18 10 15 20 145 850
250 g 15 20
200
A.S. Watson
13.10
13b
13.30
18.70 13.10
20 --20c
Futures:
Old No. 1 Вят
Marcit
400 $09% in
Lane Crawford
350
351%
3514
3444b-750
Mny
143
Yangisze
0.556
6.00
Jul
20.41
Fo
ETU Flute
UK Lant
Allied
5.65
5.50
5.45b
Texite Cern
1.80
6.66b steady 5.500 +50 6b steady
September
33.40
in 8 to $1,110,
December
24.30
Ralls were narrowly Irregular.
Nin
Biandard contract
Moschi
(UM)
(New?
133 at 15%
Sanyang
7.00
7.88M
7,00
MAY
I'v
2010
0215
September
20 00
December
It
100
7000 1073
March
2018 VI
TUTECH
Inter-Scandinavian trade
inter
A Rubber
X U
under
eyetemi union, making total of $5 per cent as required
the
of on Tariffs
*
Trust
Whe
PEILITIES
*I'm
65 per cent
+
19
future agree
f
Luht (N1 10 20 14 00
500 10,00
Ewers
431 43
126434
M10 Electrie
New
Negotiations
are under way on the possibility of hig
delitvel 20 per cent
General Agreement
and Trade (GATT).
If the required
of in'er-Scandinavian trude
included in any
أرده
ment ΠΑΤΤ will ercognise the new customs Union with-
of the "most favoured no-ton"
clause.
Steel production in Con- calling for the application tinental Europe in 1955 WAL considerably higher than in 1954, and in some cases annual and monthly record levels were exceed- ed.
French crude steel output in 1955 Lotulled 12.387,000 tons, compared with 10,827,000 tons in 1954 and the previous record of 10 807,000 tenk in 1952, se- cording to preliminary estimates.
Proposed Goods
Two-thirds of goods coming within the Arst 45 per cent are mainly duty-free goods, that is, nos; raw materials Including rubber, hides, minerals, wood, pulp, paper and ships. The remaining third consists of trun, steel and metals.
Goods which it is proposed later to bring with the scope the agreement Include chemicals, machinery Ottel mestient
French crude steel output in Dezember WIIN estimated ht 1,130.000 tons. compared with 1,084,000 tons in November, nad the monthly record of 1,414,090, products. tons set in March, 1955.
und
electro-technical
The Danish Economics Mini-
BRUSSELS: Belgian crudoster. Mr Jena Otta Krog, steel output in 1958 is provision- emphasised thal his govern
נן
ally estimated at 5,780,000 tona against 4,910,000 ton
1954 Quiput in December was a re- cord at about 531,360 tons, com- pared with
Nuvmber and
December 1054
400.00 tong
In
450,022 tons in
MILAN: 11 Ban crude steel put in 1955 renched the re-
level
jons Ford
of 5,380,000 against 4,207,000 tons in 1954, needing to provisional @gures sued here. Sirel productra
in December illed 400,000 tox,
compared! with 401,000 ions in November,
Bonn: West German crude steel output in 1955 is estimated 21,400,000 tons, compared with 17,400,000 in 1934.—China Mail Special,
O
New York Sugar
Inent the
LAND
SIM Ty
Ya Feizy
1740 17 30 000 17 20
HO 195 7000 R 1825.
DOUA ** 100
ד 3.5 כח 2
"เม
3000 **
200
24 30 24 40
tail
300 24 40
100 2004 104
201 104
2.) 22 x 22 40
8 40 80
B20
Telephone ined it's INDUSTRIALS
30 70 *7
Le..
STORES
Dairy We Laun COTTONN
ETC
1100 * 24 30
124.90
50 1001
$40
@ 30
7.80% 19c
TURNOVER FALLS
TO LESS
THAN $3 MILLION
By A SPECIAL CORRESPONDENT
There was a sharp fall in the volume of 180305 trading on the Hongkong Stock Exchange this toweek with the approach of Chinese New Year.
The total turnover was $2,955,000. Last week it was $4.14 million and the week befone, $3.78 million.
13 70 10.80 1600 13 80
13 10 10
Textiles. Nanyang MISCELLANEOUS
Aled YAN
0 10
7.BO
3.00 3.35 1000 8.50 DIV
WORLD
COTTON
MARKETS
moved
In the dal conditions prices and only fractionally where theri were changes on the week prices tended to be The panel shows that lower of 28 shares. 12 were lower,
steady and eleven were
only higher
than
last Thursday's closing ratus,
Brokers and observers said the contraction of trading was due to the approach of Chinese New Year, when most Chinese people like to settle outstanding
lebts.
were
There W
SINGAPORE
37.50 priced Superior Oil of California | Woolworth
34.80
300
32 70
The market was stepdier on better overseas advices and Im- proved American tigures.
consumption
Future closings were
Nu 1 rubber per
Ib
Feb
Mnr.
April
319-12014 100%-100 ungunted
No. 2
Fet
3
tabber per in. rubber per ib.
1032-1091%
3M4-10615
No.
4 rubber per 1 Feb.
Spot rubber unbaled Blanket crepe
No pale crepe
110-110%
De.co
12-121
LONDON
The market was quiet but Brokers last week predicted steady with spot at 32% pence
Prices: would find a that they around $11-$12.
level
Der ib
No. Res spot
32-3214
Settlement house term:
Mar.
313-32
April
31-13
April/June
319-312
Futy/Sept
30-30%
Get/Dec
29-2011
General markets, tif basis, portan
Feb
Mar Appli
There Are niso two more 1 new fotallons in the offing, understand, but I am not at liberty to give any details just One may be announced in the foxt fortnight.
vet.
Estate crepe sinquuted
312-31
unquoted
The Amsterdam rubber prices were unavailable.--United Press.
EXCESSIVE
US OIL IMPORTS
Hongkong and Shanghai Bank shares last ground for the third consecutive weck und closed with sellers offering them at $1750
There were no buyers at this price The shores are Different Last Year was not committed to
down
with the New York, Jan. 28
in sympathy which proposals,
would
lawer rates for London registers. Cotton futures today see- have to be accepted by the
no perceptible
Untors, on the other hand. Parliaments of the three coun- sawed narrowly on either slackening of in trading at this had e better week and there tries and GATT, before they side of the previous close u hast year. but candi- were a few small tales over the
They $1000 could come into operation. This in moderately active deal-tions were different,
mark.
closed Then, would take several yeUFS
the market was still
steady on the week at $995. ings.
enjoying a boom which lasted In the Wharf section, Hong- February Money kong Wharves and Providents Heavy impour dings under the mtu erly
was being pumped Jnlo the made gains bul Docks los81 loun government
prog amme,
the outports of ground after their recent rise. with expectations for a tighi Colony from
Irve'
Southeast
Asin for Investment probably liquidation, ing up in the supply of
and safekeeping and H The Onnual review by the
Washington, Jan, 20, cat on and expandir. Z expor
operators
find they bad Director of Commerce
Independent. Petroleum debts outstanding
or heavy
last week indicated | Atsorialton of America sald te- overdrafts, the prospects were that trade at the end of 1055 | day that exversive Imperks of
was at its highest point since foreign oil continued to that the New Year would be
be a a good one and profits were in the middle of 1953. If this "matter of serious concern" to
rising trend continues, thethe domestle producers. the offing.
wharf shares should do better and I expect to see Providents back to $16 soon.
Not Isolation
of
iran and steel, which were now generally free of duty.
In the cuse
Denmark, which had the lowest customs tariffs, it would
that трал duties would have to be placed sales of raw cotton, were sic
ing intruchets on the setbacks.
the Realising increased
wi.b spot house rallies, along selling in March whenever the spot month started to approach the 34% cent level
The proposed duty was like- ly to be six per cent, but for the first five years after the Detting
the unian
would
of up Denmark
customa
On
The certificated atock declined allow imports of these goods 369 bale. to 14,012 bales.
interest Jake Volume and open ano.her five years to raise were: tarifts to the required level.
duty free and it would
Volume Open interest
12,000 303,108 31,600 27,000
Month
March
May
014,200
New York, Jan. 20. World No.
Mr Krag said the customs union did not mean Scandinavi vlan isolation. On the contrary, the higher standard of living May which the union should bring about would lead to increased Total trade with other countries.
203,200
17,000
207,200
Dec
·12,300
6,300 AXIO 113,700
LIVERPOOL
170,100
70,000 34,300 4,000
Market
4 sugar futuren. cloted unchanged today
to 1 point higher with Bales of 78 contracts.
The report of Scandinavian cxperts also recommends the
setting
Joint up of a
aulo- moblie production scheme to
Domestic No, & sugar futures save foreign currency in closed i point higher to point three countries.
lowtr with sales of 17 con- tracts. Futures:
Contract No. 4 (world)
March
May
July
Sept.
Oct.
Spot (cents per lb, fob Cuba)
Contract No. 5
March
May
July
6.5%
Sept. Nov spot-(dents per,ib, eik Ny
5.51
United Fres,
Swedish Care
J
At the moment only Sweden produces its own make of car, and Scandinavia imports Ger- man and British ears,
the
The report suggests co-ordulation of several fac
tories in the three countries for
1,602,800 balED
dic
The same cannot be said of 1056. The credit squeeze and the duli condition of the market have caused many big operators The to lose interest in shares. land market and trade develop- ment have drawn their money nway to bigger or potentially bigger yields.
Pick-up In March?
observers
seem
to
Market think there may be a slight pick-up in business in March and April with the dividend Future closings, in pence per season. Investors are wonder
pound were as follows: Uld contract
March/April
New contrget
May/June
July/Aug.
Oct/Nov. Dec/Jan.
Egyption Karnak Jan/Feb.
SAO PAULO
the
Industry
Blue Chips Firm
and
**
The IPAA hos long been urging the government to control im- port: ch ground the importing compefiles are taking over US markets. Cengress Armed Forces Defence Mobiliser Arthur land ocction
Was Flemming has authority to curb generally quiet, with Hongkong them but he is trying to permit Lands off $2 to $82 and Realty the Importers to take voluntary
The
steady.
The Utility ecction-with the exception of the two ferry com- panics--wes generally firm Ching Lights new were frac tonally off, but Trams and Teleptiones were higher and Ing what
Hotel pay-out Electrics and Lights old were will be this year, since the com- steady. 2431 Pony hes received all the $11
Cements held steady at $30%, 23. million for the Pedder Street site.
Some brokers estimate that but Dairy Farms, Watsons and 20.70 Peninsula Court should
Lane Crawfords lost ground. cost be 240tween $2 and $3 million
and on argue that the
20.45
24.05
25.00 this smpany could afford
a
bigger
this year.
11.10 Hotel
distribution Hongkong Really is paying
Futures closings, in cruzeiros per Bo were as follows:
Marcti
DARY
July
28.00 225.00 20.32
31.45
#
· Rubber shares were neglected this week with a further fall in raw rubber prices in Singapore.
In the US the averago price Anant any-out for, the 1033 | Lights,
Sepl automobile production. --- 4.30 | China Mali. Special
London Foreign Exchange
New York
Mentroal Abostvedam Trussels
Liston
Rockheim Zurich
Land:
LONDON TIN MARKET
London, Jan. 26,
The tin market was easy with spot falling 1244 points to £784%
year.
action,
S.
The committee said supplies
of crude oil and natural gas are
for all enough
requirements.
It coupled this with a warning that the cli industry must con- tinue to enjoy tox write-DIT advantages, otherwise there will be no Incentive for exploration cxpanded productionowan and United Press.
London Wooltop Market
London, Jan. 26,
I
Wool tops
A friend with about $10,000 ten cents Interim dividend which to invest asked me to pick a few Is the zame as last year. They shares for him this week. also paid a final of 10 conts lust suggested two out of the follow- year making 20 cents instead of ing live: Providents, Trams,
futures market closed barely steady with spot Hotel and Wheelocks,
prices down around 1⁄4 of a ane from the first three on one of 15/16 middling cotton at 14 Really has also announced a from the last two.
At current
current Penny, Turnover was 49. lots. was $2 million issue, the shares designated spot markets
to prices,
most Cloring prices were in pence 34.40 cents. Balts
or totalled be issued in the proportion of interesting
potentially per: 16. 28,040 bales,
one for two at par ($1). This interesting shares on the market | March The New York ond
New was a surprise to me but it ex- for the small investor at the May Orleans cotton prices were not plains the five cent rise the share moment. available,United Preas.
and three months Doing at New York Wooltop
TT towards the end of the
|uffelal morning resión. Turnover.
was 130 tons.
In the attornoon, at the end
Market-
New York, Jan. 201 Prices, Clonel Mésdy “today. of the unofficial pession, thé tin with a to 7 points lower, Futuro prices clópeƐle dà follows -- Ein closingă în-benta pèi sterling per long tonjing
buyers
July
140,000
made about ten days ago,
Rubber Trust have announced
thb
a 20 cents dividend which, RC- at the company has paid sines cording to my share ist, is
thèse
are
The
Worth Considering
July
1 October.
September
December January March May
July
If I had to pick thờ shuros 1952 when, the distribution was myself would narrow the 12 conts tax fred. They made a cholce down to three: Pro- bondy issue of one for five in the vidents, Lights and Wheelocks,
I mention this because there safe year.
with
Banks Down Again
may be, oli You may not i
Hongkong, and Fer Eastern thay may dive you something to favestment shpres came on to think about. Compare the thesmørket this week land" with your own and talk it over. sealings began cih premium with your broker. If there au They closed the going to be a recovery, In March week 20-bents off their best at and April, now is quite
time to buy,
Uniteki
Exchange Rates
this
urine was done in the local
exchange morning at se, following TALES: 12 parling noter (per il Augrain notes per1) Indoysamaria rupiah, (per 100).
singadorm) (Btralia).
Closing Prices
Allied Mills Ine
American Cyanamide Co
Baldwin-Lubin-11211, Bendix Aviation Carp Hoving Alplang Burden (The Co. Burroughs Add Machine Care 1. 1. Co. CIT. Financial Corp Continental Oil of Del. 2012 Notional Gina Goodrich F. Co. Pensioke Mining Co.
Juhtmanville Cu
#334
13-
53
70
[
4012
Voited Frest.
LONDON LEAD
AND ZINC
London, Jan, 20.
Copper, lead and zinc prices
701 closed today in sterling per long
Đặc }ươn Hà Tellows:
Ja
Copper spot
300-301
104%
business
303-388
432%
3-month
374-275
Lead 2nd half Jan.
Apr.
70
15
Zine 2nd half Jah. Apr.
23
18735-11014 116153 1001-10045
D63-97
-United PreES.
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards "CORFU"
"CANTON"
"CARTHAGE"
"CHUBAN
Leaves Londea
Sailed
1st February
19 February
15th March
Das Hongkong
Oh February
་
Bala March
2nd April
13th Apri
Via Southampton, Port Said, Aden, Bombay, Colombe,
Perang & Bingapore
Homewarda
"CHUSAN”
"CONFU"
"CANTON”
"CARTHAGE"
Leaves Hongkong Doe London
30th January
10th February
9th March 6th Apri
17th February
12th March
0th April
* May
Via Singapore, Penang. Colombo, Bombay, Agen,
Port Bald & London
Aeo Calla Nutzeil)on.
FREIGHT SERVICE
*SURAT"
"SURAT"
due
Kalis
9th Feb. 8th Feb. lords 2011 Feb.
from U.K.
for, Japan
for S'pore. P. Swetton- ham, Penang.
Aden Port Said. Genoa, Mar- *eller. London, Ham burk. Rotterdamn Antwerp
With liberty to call at Belawan before or after Straits Porta and at Bombay ir inducement offers. Tanks' available for carriage of Off in Bulk. Space for refrigerated cargo. Limited Passenger Recommodation.
على
BRITISH INDIA S.N. CO., LTD. 1850-A HUNDRED YEARS OF SERVICE - 2030. "SIRDHANA" dun 6th Feb,
from Calcutta, Itengoon & Stralt "SANTHIA"
for Singapore, Penang & Calcutta "FULTALA”
"ÖRBIARA"
sails nih Pob,
sails fih Feb.
for Singapore, Chitta- gong & "Rangoon.
walls 13th Feb. for Bingapore, Penang
Calcutia Nangoon.
Chittagong
P..&O./B. I. JOINT SERVICE
zails 27th Jan,
"ITAURA"
"OZARDA"
"ORNA”
for, Singapore, Colombo, Karachi Barrah, 'Khor- ramshahr & Kuwait lost 2nd Feb. for s'pore, ·DOMDAY,
Bhavnagar Karachi Barrah,
Khorramshahır de Kuwait
́due: 18th Feb.
walls 17th Feb, for Jupan
frors Bombay
Salls 13th Mar...., for Bingapore, Modras,
Colombo, BOMBAY Karachi
"EASTERN & AUSTRALIAN S.S. COM LTD.
"NELLORE"
đut 4th Tub, from · Kústrália Baflo (ph Feb, for Japan "ARAFULA” do sth Feb. mrom JADRA
YARIS din rob
for Bandakan, BABAUL Brisbane Bydney, Mal-
· poutno de Adelaide)
Ali vessels have liberty to skil st any poris an or off the route à thè roule de mailing wre subject: to change de amendment with or without notice.
For full purfituara apple l MACKINNON, MACKENZIL & CO.
OF HONG KONG ITU Telephone Nr. 27721-4
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