1956-03-16 — Page 11

THE CHINA MAIL, FRIDAY, MARCH 16, 1956.

TRADE and

COMMERCE

SECTION

ON THE WAY DOWN AGAIN NY COTTON Most London Stocks

Share Market Closes In The Doldrums DULL DAYS AHEAD

By A Special Correspondent

After a brighter start on Monday, the share market slipped back into the doldrums this week and share prices lost further ground.

HIK Block

18

Mar 1 1080xd

★ The Share. Market At A Glance ★

· Up or

Feb 18

HK Bank Lombard,

1800

56b

Feb 23

1750 67

Mar 8

1085

Mar 15

1670

down

-IK

5014

5$2

50b

sleads

Union

1010

910

075b

· 980.

80

Underwriters

0.10b

9.10D

0.101

8.30

9.30m

Union W'boat

25.10b

28b

28b

274b

17bxa

Wheelocks

8.85

8.75

8.00

8.50

8.40

JIK Wharf

**2

72

700

72

72m

3394

Sab

35

34%

3514

-$10 steady +400 +100 steady +750

Provident

15

14.76m

14.10

125m

16.20

550

IIK Hotels

17.00

18.50

18.40

1.50mxd

*****400

HK Land

64

6214

01

03

60xa

Humphreys

10.75m

· 19.70w

19.50%.

1024

1.525

2456

18.30xd 1.50m

18л

+500 --300

25.60

23

24.60

23.90

1.50m 22nd

steady

4-350

Star Ferry

144

1459

130x4

136n

135

Yaumatis

108

104

105

100

106

Ch Lights (0)

22.10

21.80

21.70

21.00

21

Ch Lights (15)

18.80

19.10

18.00

18.75m

18.409

415

4314

314x

29.80

-$1 -600 336 --700

3414

12

321

23xa

39

3834m

34.xd

333

34

+250

18

17.40

17.40m

17.30

17.60

A.8. Waison

12.70

12.00a

12.80%

11.80

104x0

Lane Crawford

36n

360

3512

340

Yangiese

?

70

Tr

6.70b

6.00%

6.25

5.35m

4.65m 5.40%

Htar

HK & FE Inv

11.40b

11.20m

11.201

11.20

11.30n

5.50

5.35

5.40

E

6.256

7.750

7.750

7.00

7.401

5,35 7.45b +50

+800 -300 -14

+50 steady +100

50

Turnover was up slightly-from $3.56 million to $4.57 million-largely due to increased turn- overs of Monday and Tuesday.

Telephones dividemil issue and the Dock

lade 1 am glad to say that to vompany's chular one gulen, both bally and dividend and horis Went the usersens, are fully up 10 last main features ont were largely your's." responsible

for the increased netivity early in the week.

nine wen

We'r

Star Ferry Profit

Ot 20 shares showa

the In nofaining panel. 14 were dowi,

Two other balance sheets re ная

were Last week lead this week

12 Perry and Hongkong Effetric. WAN 15 HOWIN

deal 10

with theni higher, and two stendy

steady on the week. the tally

ON

Turnover fel

10

away sharply | briefly Wednesday to $320,000 and yesterday's $5,000 was t vant of

to 1 House Street that nore dull

days

nhead,

い

Most Li the tility were markand lower Brokers ascribe the fall i furnover and the lower prices for Utilities to what h (i) recent have absorbed capital that mich

bave been invented. otherwise mud (3) the sale of chara pay for w Issues,

new

bati

է .

The Reasons Why

Star Ferry announce a profi of $1,851,823 Against $1,004,087. As my Bgures go back only to 1951 I can only any that this is

the high figure for five years. Divefends again absorb $720.000.

20

ut this year there la no

Itut

n

cash bonus of $2 a shore from The poft on sale of investments. This gives shareholders an extra $160.010. The 110x1

columbi shows this prott was

$307,312. Reconstruction reserve goes up! Eran 33.5 to $4 million.

Electric's profit in up from

An $11,058,905 to 11,088,451.

With The Thongkong Bank Increase of live cents in the borrowing rate of between six | dividend increases the appropria Kn eight per cent few if any Hot from $7.875 million to $8.05 aperators are interested in ask-million Jug for verdenfis to buy shares yielding six and six and a half per cent.

Plus the effect of two ereit squeezes mal fears of third in

Yesterday

shareholders

HK Realty

HK Trains

Electric

IK Telephone G.L. Cement

Dairy Farm

Allied

Textile Corp

Nanyang

5.55%

Chicago Grain New

Futures

Hold Firm

Chicago, Mar, 15. Prices In grain futures averaged frm on the Board of Traufe today.

Soybeans declined

word of Japan's ap-morning on

this

Lous the terms of the new purchase of 150 thousand proved Add to this the competition issue wrently

For of soybeans from China. Short #rounced. every seven shares, shareholders | covering and buying

credited from the got market.

will recrive three new, Ulic to wash luteresis moved com up Bonus and two et par (510), arundu cent u bushel, and

reflected in The last nine aronth and you This will put issued empital up w

wheat have They

fear the to $50 million. At the market's present deuressed and time authoriser empital goes up

to $100 milion. lifeless state.

reasons

Mr J. A. Blackwood's con- ments on trade at the Chamber at Commerce meeting tentied to have a further canipening effect.

Brokers wer

were expecting a prost hoor with Chinese New Yo the investment of bonuses and This has 1101 dividend mobey,

And it is difficult materialisti.

for the disappear. ance of this money from the

market.

Two Dividends

Banks Lower

There is Hile to report on the market. Bank and Unions are

lower,

belleve Brokera Bunks

are down in sympathy with London ater.

an-

Docks, following The nouncement of their dividend and bonus close higher ut 5351⁄2. Wharves and Providents roughly steady,

arc

In the Utility section, only Trams are higher. Telephones, lastex all are roughly steady at $23. All other counters were marked

Two dividend announcements

11249 which came too

for week's column were:--

Hongkong and Yaumatt Ferry: lower

Anul of $4.50 for ordinary shares and $5 for prefs. was in no

shares Both cotton

Rubber This slightly. with market

nguin fuctuoted (x- pectations on Thursday after- werk, rising from $98 to $100% ami then slipping back to 590 yesterday. Share prices followed them and Amalgamated closed weaker at $1.075 ($1.729 last week).

noon.

I consider it

hulte

a generous distribution, assuming that profit is about the same.

Let's have N Jook at the figures: profit in 1954 was $5.5 million. Dividends of SB (ord) and $5.30 (pre!) on an Issued capital of $3.30 million took u $2,601,750. This year they are paying $7 (ord) and $5 (pref) on a capital of $4,085,000. Their total distribution will therefore be $3,513 million which is almost a million increase on last year's

The market appeared to

alightly disappointed. But

be

that

seems to be traditional when a lower

Is announced dividend after a bonus issue.

reem

TODAY'S SHARE PRICES

Bixo

contracts.

Exporters stale

that Turkey 760.000 requested offerings of bushels of US wheat with pur- chases scheduled for tomorrow.

ہیں

Egypt next week is due to buy close to five million bushels

US wheat, and Mexico in due to this amount of take moderate grain in the near future.

Wheat closed unchanged to up A cent, soybeans off 1% cents to up 11⁄2 cent.

CLOSING PRICES

Prices per Bushel in cents: Wheat. No. 2, red

steady

York Stocks Push Into

New Highs

New York, Mar. 15.

FUTURES

STEADY

New York, Mar. 15, Cotton futures today de- veloped increasing steadi. mess after a mixed start in quiet dealings.

A lack of aggressive selling pressure, while traders focused attention on Senate manoeuvr- ing on the farm bill, made the 1st responsive to moderate buy-

ing through commission houses and various trade interests.

At the close the jist ruled 21

to 0110 points

higher

pom Tower. Opening prices were up New Orleans 8 to off 4 points. closed up 9 to off 2 points.

Push Ahead

London, Mar. 18. Nearly all sections pushed higher in spirited trading on the London Exchange today.

of

and

Singapore Stock Market

British Government stocks

flurries Burvived sentiered profit taking and closed with galne running from five to ten shillings. Wer Loan advanced more than seven shillings. Industriala were strong

Singapore, Mar. 16. prices went ahead on a broad

Brokers today quoted the fol front. American favourites were all higher in prices as much lowing stock prices:

Unilever as 3 shillings,

and Batu Lintang Rubber Hudson's Bay also featured on

Oils the upside.

were firm, British Royal Dutch gained a point and British Shell Transport and Petroleum advanced two shll-

und

New crop months showed relings on the day. lative firmness, especially DILET news of a Senate vote to con- tinue the parity price for thuin for figuring price supports on basic crops. The dual for- muta would mean higher prices for cotton, along with corn, wheat and peanuts.

FURTHER COVERING

Nearby deliverios featured fur- ther covering in May by ship- mill interests. Tech- pers and nicians also bought the nearby months on the premise that soine of the strength manifested In the recently expired March de- livery would be transferred the May contract,

were

Cu.

Opening

$1,53

Bornco Petroleum

Syndicate Consolidated in Breitera

Ord. Traver & Neave Ltd, Ord...

41/40

27/20

$1.70

Framer & Neave 71% cum.

pret

$3.80

Hongkong & Shanghat Bank-

Ing Corp.

were

Hongkong Tin Ltd.

7/31

Kempas Ltd,

31.80

firm

coppers

inum Rubber Estates Ltd. 20

cents from capital distribu-

tion

70cts.

Malayan Brewerica ....

$5.50+

with

Now Barandah Rubber Co.

more.

Petaling Tin Lid.

Rames Hotel

12.35

Singapore Cold Storage

$1.50

South British Insurance Co,

Ltd.

$27.50

Straits Trading.

Straits Stearnship

$12.40

United Engineers Ord,

sa.co

in the foreign bonds section.

German Japanese virtually unchanged.

Gold shares

and dealings, quict showed goina.

Dollar stocks closed goln running to $2 or

United Press.

LONDON METAL

PRICES

London, Mar. 15.

was steady. 10 Prices closed today in sterling

The Un market

per long ton as follows:

re-

Oc

Tin spot

3-nonilt

Copper spot

Opening irregularity flected a light to overnight cumulation of scattered selling, nd news of a continued heavy rate of redemptions out of the ioun stock.

for the week Repossesjons ended March @ totalled 100,099 bales while new impoundings totalled 37,950 bales. The new stock of 1955 crop cotton in

Stocks pushed further into new high Government hands totalled

territory today, with non-ferrous metal issues leading the way.

Gains among the metals ranged to 21⁄4 points in Copper Range which touched a new high of $662.

6,483,562 bales.

The certificated stock was unchanged at 12.544 bales,

Volume and open Interest

were:

Month

March

Moy

Volume Open interest

поло

4,000 34,400 395.000

July

Oct.

18,300 313,200 11,300 305,900

There are alrong points in oils, Stokely-Van__ Comp, with Amerada up 14 to $112 ft & Co.

Studebaker-Packard Corp. and Standard (NJ) up to Texas Co. $1614

19

Dev.

DIA Mar.

48

May

32021

731

July

11044 Total

Some of the airline

Union Carbide |United Aircraft

US. Line Co. Eastern US. Smelting

Lasues S. Gypsum

did well, with American_adding US. Her

2

points

to $112.

44 to $49.

Aircrafta also had strong spots us Douglas gained to $85, North American $80

14 10

In steels, Allegheny Ludlum rose to $37%. but most held

in an off seale range.

Dow Jones closing

were:

30 industrinis

20 rolls

Allied Chemicals

American Airline

averages

9,000 331700

8.900 128,700

18,000 1,400

B.600 41,200

100.000 1,028,900 balee

3-month

Wearno Bros.

• exdiv † cumdiy exall--China

Mail Special.

Exchange Rates

Business was done in the local unofficial

exchange market this

Buyers Sellers

02215

8271

730

700

420

430

morning at the following rates:-

419

420

U.S. dollar (per (1)

0.15

12014

1201

110

110

Sterlin notes (pre £12

15.30

Zine let traif Mar

Australian notes (per l'

1023

10315

Indonesian rupiah (per 1:0)

18,70

Jume

003%

90

Stam tical (per 100)

20.40

“United Press,

Singapore (Strally

1.59

Lead it half Mar

June

*

*

P.OB.I

E&A

COMPANIES

PENINSULAR & ORIENTAL S.N, CO.

PASSENGER/FREight Service

Dae Hongkong

NEW YORK

Prices of futures closed today

Ontwards "CARTHAGE” "OHUSAN" "CORFU"

Westinghouse Electric

as follows:

United Press.

Spot

July

December

March

WORLD RUBBER MARKETS

May

October

May

July

30.600

33.43

33.27

31.70

31.70

31.70

31.78

31.15-18

"CANTON"

Lestes London

Batina

2nd Apri

13th April

27th March

20th April

23th April

28th May

0th April

NEW ORLEANS

Prices of futures closed today

Via Southampton, Port Said, Aden, Bombay, Colombo, Penang & Singapore.

Homewards "CARTHAGE"

**CHUSAN” "CORFU" "CANTON"

Leaves Hongkong Due London

Bingapore, Penang, Colombo, Bombay,

as follows;

Spot

May

July

October December March

New York, Mar. 15. The No. 1 Rss rubber futures 100.02 contract today closed 16 to 50

points lower with sales of 173|| May contracts.

July

LIVERPOOL

Futuro closings, in pence per More than •half of theb, were as follows: business was represented in Old control Mar/Apr. intra-dealer switching operating

exchanges of Sept/July

at 80 New contract May/June

The

spot

market : remained slow, with factories still limiting purchases to necessitous needs. Shipment offerings In from Slam, Singapore, and Indonesia were above a workable basis.

Locally, spot No. 1 Rsa werd quoted nominally. 34 cents a pound

July/Aug

Oct/Nov.

Dec/Jan.

Egyptian Karnak Mar/Apr.

SAO PAULO

23.13

Fulure closings, in cruzeiros per kilo were as follows:

March May

Snot

220

507.50

Mar 2240 22311)

22014

100.00

are

Up

prices have during: the

May July Sept. Nov. Corn, No. 2, yellow

Sput

#109%

15 utilities

07.32

308-2

09 stocka

179,01

2001;

40 bonda

90.00

2041

Comm. future price tex

Comm. spat price index

Moody's Index

407.50

1331

Mar

1.727

May

July

1304-4 1397-140

Closing Prices

Sept

13936

Now.

Alden Inc. Acy.

Rye

#21% 117

Stankind contract closed 6 to 40 points lower with sales of one contract.

Mar

13011

Allis Cholinera

May

120

25

May/June

Dals

American Metai

0734

*July/Aug

Mar

62

Am. Sugar flet.

201

May

0313-16

American Tel & Tel

181

Soybeans, No. 2, yellow

American Tob. "B"

703

Anaconda Cupper

BI

Spot

Mar.

May

20014 2001 26313-45

Armco Steel

points; July/Dec. at 120 and 125 points and Sept/Mar at 159 podnis difference.

Armour

101

Daldwin-ma-ban.

10

July

Sept.

30592-204 24514-

Baltimore & Onio

47

Nov.

20734-230

Bendix Aviation Corp.

3714

Benguet Cons.

Barley

Bethlehem Steel

101

Spot

130-140

Boeing Airplane

TIL

Bardon (The) Ca.

04

200 tb, sack

$13.300

Durroughs Add Machine

Canadian Pacific

Case (1) Co

CI. T. Financial Corp.

431

No. 1. Ros

Cat, Tractor

Celaneso Corp.

1735

Mar.

13.85

Case Manhat. Bank

5010

May

$2.85

05

Chrysler Motors

Juty

32.03

Coca Cola

10031

Sept.

33.25

Colgate-Palmolive Co.

Dec.

32.35

+

Commerclat Credit

Standard Contract

Press.

Consolidated_Edison

May

32.65

May July

7214

Continental Oil of Del

11986

July

22.00

70%

Crown Zallerbach

Sept

31,30

Oct.

Cuban Amer. Bugar

1014

Dec

3040

Bro

Diamond Alkali ...

B21

Mar

30.40

May

Dupont de Nemours

23344

July

118!

Eastman Kodaic

12436

Erla Haurexi

21%2

Family Finance Corp

100%

Ford Motor

11.

General Eleiris

Glidden Co. ....

1011

Heyden Chomieni

Homainke Mining Co,

41012

40612 341.

(From Our Correspondent)

| Now York flour

Winnipeg, Mar. 15.

WINNIPEG PRICES

Prices of grain futures closed

cents per bushel today in follows:

Business done on the Hong- kong Stock Exchange this mom ing amounted to approximately $240,000.

Noon quotations and the morning's transactions: RITARES BUYERS BELLERS BALES Oats BANKS

The point that people do not to realise is that if they were shareholders before the bonus issue in most cases they stand to receive a bigger cheque than before,

wid For those bought after the bonus issue,

less they paid a lot

for the share than those who bought before. You can't have it both ways.

Cement's Record

The other dividend was IK Docks which announced a $2

lividend And (unchanged)

1 Bank Xm,1055 166 1 GA 2670

INSURANCES

Uniera Lombard.***

1100

50

Provident

#

DOCKS, ETC.

K. Wharf.. Dock

(Old)

14.301420 800 17 14.20 Simi Dock 140, 155 2276 43 1.45 Wheelock..

8.40 0.00 4100 0.40

LAND, ETC.

HK Hota! XD 16.30 1834 HK XD 1915

I

303 4 14% 200 từ 109 300 400

Humphreys

XL

10.10

$1.00 cash bonus from a repent land sale. These two will take up $3.5 million instead of $2 million in 1954. Profit the year before inst was $2,189,353. have not heard last year's figure. Green Island Cement disclosed detalls of its record year yester RUBBER day. Prochiction, to begin with,

A. Rubber 1.00 1.76

was a record. Proft was stated | UTILITIES at $4,031,000 which is an in- crease of $1,300,731 on the 1054 and figure. In 1954, dividend

For

bonus of $2.50 a share plus a $1.50 bonus look up $24 milion. This year, because of last year's bonus issue, the same distribu- tion absorbs $3.0 million the excond year running $1 million goes to general reserve and after other small

routine appropriations, $304,005 is lett to carry forward compared with $183,001 in 1084.

Tram XD .. 2235 24.90 200 24.70 Sur Ferry Yavati Ferry 104 103 102 104

130

C. Light (0) 20.60 20.50 2000 or 2000

t

Ost.

Harley

May July Oct. Flaxsted

May July Oct. Wheat. No. 3. 1652 centá; No. 0, 131 centa,--United Press.

Rice Control

In Ceylon

Colombo. Mar. 15,

500 20.70 Wholesale dealers and foreign

100 20.00

Ingersoll-Rand

Inland Steel Ch.

Interchemical' Corp. International Paper Inti Tel, & Tel John-Manville.Co Kansas C. Blower Be Kennecott Copper Liggett Meyon Tob, Co, Louisville & Nashvillo Mesabi Tron Corp. Monsanto Chemical Co.. Montgomery Ward

Futures:

AMSTERDAM

The market

was steady,

Prices closed today in guilder's per kilogram, clf, April, 29 follows:

No. 1 rubber

2.75 buyers No. a rubber. .... 2.73 buyers No, a rubber

2.71 buyers 3.06 buyers

July ..

October...

December

29.39

29.40

31.50

32.50

3150

In the United States the aver- age prico of 15/10 middling cotton at 14 designated spot Sales imarkets was 3548 cents.

totalled

14,238 bales.-United

New York Sugar Market

New York, Mar. 15. World No. 4 sugar futures doday closed, 1 point lower to 1 paint higher with sales of 38 contracts.

domestic No. 6 sugar The futures closed unchanged to 1 The market was quiet and in point higher with sales

of 25

No. erspe

SINGAPORE

clined to be sagging during the There was some buying

contracts. 140interest, however, towards the the accredited buyer of around In world raws, France was

No. 1 rubber per ib. Mar. 9714-0715 Apr. 26)(-90)| May quoted

941-06

2,000 tons of Cubans for April/ May shipment at 8.35 cents a pound, fob.

Futures:

Coutinet No. 4 (world)

40% day.

749%

Do

closo. Futures:

49

0176

National Casa Rog. “A

rubber per lb. Star, 96-9015

National "Dairy Prod.

No.

New York Central

59163kes creyg

Spot, rublier unbaled

No. 1 pale omnes,

1736-11434)

4736

LONDON

May

July

The market was quiet with

Вер

40%

spot quoted at 28% pencv per lb.

Marcha

DR

Price

May

No. 1 Has spót supue

July

Bettlement house term!

April

Cuba)

Olin Mathieson Oile Elevators

Pacific Gas & leg

000 20.70 distributors of rke have been pacino Western Oil

C. Right (8) 12.40 700 10.40 notified that they must wind up | Pan American Airways Electric X Aji 20,30 400 20.70 their business in Ceylon by the Parke Davis Co. end of April, it was learned to Benny 3 C. Cu

Telephono

23.20

INDUSTRIALS

Cornene LEONE SAYA Brons, ETC.

Welson XD 1000 COTTONE

*Ter

5.4

4.00

Ceylonmo hands.

Pann Ball Ka

day.

PhUp Marri Procter & Gamble Co. The action followed'n Govern. Publicker: Industrian ment decision to put the entire || Shell Oil-Co, p Datay 2014::17,60 17:30 2000 a 17.00 [rice distribution mechanism into Bains Hag: Paper

Blindate Bocony Mobilon Bouth Puerto Rico Sugar. The decision was taken by the southern Nonii, qu Cabinet because most rion whole- | Boutonny Blairway snjera and dietetiutura how- arơ| danomed ÖNCE Indians-Uhsited Propri

Išarking Divar Cha

This must be regarded as an outstanding achievement for the company. It has also made good start for 1950. The Choir MISCELLANDQUE

man's statement closes on this!

*

29th April

7th May

27th May

May

4th June

+

*lol* June

2nd July

Vis

ACID,

Port Bald & London,

Also calfe MARSEILLES,

FREIGHT SERVICE

due 24th Mar. trom U.K.

"SUNDA"

"SHILLONG"loade 28th Mar. for S'pore. P. Swetten.

ham.

Penang. Aden,

Sald. Havre. Part London, Hamburg, Hot tertiam & Antwerp

With Eberty to call at Belawan before or after Biraits Ports and at Bombay if inducement offers. Tanke avaliabla for carriage of vil in bulk. Space for refrigerated cargo. Limited Passenger Accommodation."

BRITISH INDIA S.N. CO., LTD.

1860 A HUNDRED YEARS

От SERVICE 1058. "BANGOLA” salla 27th: Mar. for Singapore, Penang.

Rangoon & Calcutta

“BANTHIA" Que 3rd Apr, from Calcutta

Kalle 4th Apr. for Japan

"FULTALA" sails 16th Apr,

20

for Singapore, Penang, Rangoon, Calcutta Chittagong

P. GO./B. I. JOINT SERVICE

**

*

"IKAUNA"

*

"TTRIA"!

dus 10th Mar. from Karachi & Bombay

mails 17th Mar. for Japan

dus 18th Mar. from Bombay & Kanech. salle 1905 Mar. for Japan

"SIEDHANA"sals 19th Mar. for Stocapora Penang,

Cochin & BOMBAY

*

'ORDIA"

for sil 21st Mar,

Singapore, Bож. HAY, Karachi," Bastam, Khorramshahr & Kuwsti

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

due and Mar. from Australia salle 23rd Mar, for Japa

All vetusās have liberty to call at any porta on or off, the route à the routa' is mailing aru subject" to change or amendmans, with or without · mošten.

For full particulars apply to: MACKINNON MACKENZIT & CO. OF HONG KONG LIB. Telephone Host: 977214.

**

*