TRADE
THE CHINA MAIL, FRIDAY, APRÍL 20, 1956.
aund
COMMERCE
SECTION
Page
SHARE MARKET TURNS DULLUK Blue-Chips New York Sugar
TURNOVER FALLS
TO $3.17m
by A SPECIAL CORRESPONDENT
The share market turned dull this week and prices on the whole kept fairly steady.
But prices showed a hardening tendency yesterday.
There was a sharp drop in turnover from $7.81 luxt week to $8.17 week.
**********་་་--་་--་་་་=jན------
★ The Share Market
IIK Bank
Wheelocks
TIK Wharf
HH Dock
Provident
NK Hotels HIK Land
Humphreys IIK Realty
Star Ferry
Apr 12 1086
Apr 19
Up or down
----35
+500
og--
TODAY'S
SHARE PRICES
Spark Advance
London, Apr. 19. Blue-chip industrials sparked a general advance in brisk trading of the London Stock Exchange
Market
New York, Apr. 19.. World No. 4 sugar futures closed today unchanged to points higher with sales of 131 contracts.
The domestic No. 0 sugar futures closed unchanged to 2 paints higher with sales of 288 contracts.
The flimer trend in rawa 20- counted for a little more trudo buying and covering in tha world contrast,
in the domestic contract follow- Refiners were leading buyers
nows o! #11 impending
advance in the price of
(From Our Correspondent) today.
Business done on the Hong- | Praft-taking
the Point tempered kong Stock Exchange this rist at times, but many leaders led to 8.73 cents a pound,
effective morning amounted, to approxi- finished at their highs for the
tomorrow. mately $380,000. Noon quota- day. Gains ran to as much 09 flons end, the morning's trans 3 shillings In Rolls-Royce, Im- motions:
At A Glance ★
Mar 22
1670-
Mar 29. 1070-
Apr 6
1060
1080
Lombard
50b
58b
50D
$846
5812
Union
970*
9700
0700
980b
000
$10
Unterwriters
9.300
8.900
En
9n
steady
Unloa W'boat
1734b
1714b
17b
19
19b
steady
8.20
8.40
8.35
8.30
8.45
+160
72
726
73b
TA
70
+44
22x
32146
3414
2014
-250
12.80bxd
13.10
13.200
18,70
1380
+100
14.50%
14.20
14.20
19.00
13.80
...100
69.
B0
61
6112
steady
18.109
make it rise in night $7.
1735
17.608
1735
steady
The last fort-
145
this
Docks cased fractionally Providents show another gain.
EEK Trams
22.00s
1.40D 23
1.45n
1.475
1.438b
22.09
22.00
32.50
-100
but
12512
1855
135n
130b
131a
+31
amall
Yaumatis
101b
101
103
191.
101
steady
Ch Lights
(0)
20.20
2114
22
02.20
22.10
+200
Ch Lights (n)
17.90s
18.70
194
10.40
*19.70b
+300
KHARES DUYERS SELLERS BALES
BANKS
are
ro
Electric
28.80
20.70
29.80
30
20.70b
300
21.80
22.20
22.60
22.00
IX Bank Dut Aola
3 10.80
223
22.006
-300
334
344
34
34
3316
17.10
17.10
17.10
15.70xd
10.10b
A.S. Watson Lane Crawford Yangiszo
10.60
11.20
11.20
11.10
~100
34248
3412
34n
34n
840
steady
6.70
lost
Allled
5.20m
6.00m 5.10
0.50
6.50
0%
steady
70 30
6.10
5.10
5.15m
+50
HK & FE by Textile Corp Nanyang
11.30n
11.30n
11.10m
11.30%
11.309
steady
13.00
5.206
5.40
6,230
5,28
5.25b
7.400
7,50b
7.40b
7kb
7.80
steady +300
Wheelock
015 0.00 LONG EM BEL
1000
04
1000
0.00
LAND, ETC.
HK Hotel
13.70 13.90 1000 à 13.00
1 Land
01200145
Humphrey
17:5
RUBBER
A. Rubber its 100
To the Wilty wetion Interest was chiefly centred on the new issues though both China Lights were better.
With most of the fral divideryds declared this decline in activity has to be expected, brokers say.
Last werk. broker saich Chinese banks were more active and there were reports of increased inflow of money from oversens Chinese.
0141
But demand tell away in most stocks this week.
Interest in Wheelocks
ta
|
Bunks lost ground slightly and closed at $1,080 but they aliuost lovel with London
gisters which were quoted £190 sellers yesterday Unions show $10 rise for the sond con- secutive week, Lombardia also appear to be a tio better.
Dairy Farmis made ground with a 40-cent rise.
ענן
Three Dividends
in
Rubber shares have been kilo. with little overuil change prices in Singapore.
dividendu Three
were
1. ÝÝ --
HK Telephone Gl. Cement Dairy Farm
One of the feny atienilon was Wheelockn which fand China Gas are paying a rosa 15 cents on a letal turn-i Aoud of $3. Mugno Electric. $1.20) aver of 38,100 shume.
on ulds and Vations
altruct¦ nouneed this week: HongkongNew York Silver!
Hongkong Wharf, which woni) changed Ana) of St-2-6. ex dividend the
before werk
H
u1-
Here is a market diary show-
Jast, lacked on another $41⁄2 toing the trend In the last week.
WORLD COTTON MARKETS
New York, Apr. 19. Cotton futures
today
reacted sharply after a mixed opening, dropping around $1
a bale, then
irregularly retraced about half of the lost ground.
A the close the 1st ruled 4 points
higher to 12 points lower. Opening prices were up 7 to off points. New Orkuns closed up $1 to off 11 points.
The uncertain price action, traders said, continued to reflect doubts over the Impact of the Government's
raw cotton
port programme in the futures markot, and
disappointment
Over the lower interim support
rate, both announced inte Tires
day
Trading developed netivity in spurts,
with the
houses,
commission
local professional traders and Various dealer Interests shifting from one side
Friday:
Monday:
Tuesday:
Qulet, price changes. few and small, T/O
$850,000,
Quiet, featureless. T/O: $610,000.
Narrow fluctuations II1 prices. T/O: $780,000.
Wednesday: Business
Thursday:
a
alipost at T/O:
standstill. $170,000.
Better inquiry, im- proved volume and prices tend to hard-
un
T70: $760,000.
Price Drops
New York, Apr. 19. Handy & Harman, bul. lion dealers, today quoted silver at 80%, ocrity a line from cent ounce, o !+ yesterday add
Brat drop in
in price since April 3. The price last changed
The
it romo
on April when
cent to 91 cents, The
slight chaugta in the price of the white metal in the past couple of
reflected months bayo regular supply-demand fac- tofa
In London, spot silver hold unchanged at 789% pence.United Press.
New York Stocks
Lose Ground
New York, Apr. 19.
the
Germany's Amazing Building Boom
THREE MILLION
HOUSES RISE
FROM THE ASHES
Bonn, Apr. 19.
INSURANCES
Uniom
Lombar
030 7000 ... 001
DOCKS, ETC. K. Whart Dock Provident
(old)
UTILITIES
Tram 10. 22.40 22,00 1000 47 2235 Star Ferry.. 150
Ferry 101
מונד *
C Light (0)
XI
c. Light (N)
XD.....
22.30
Futures:
at the
perial Chemicals, Woolworths Contruct No. 4 (world) and Unilever. But Bowater lost a few shillings on profit-taking. Oils swung either way, with Royal Dutch losing most of £14 adyanor, British Petro- jeum arad Burmah were
features.
British Government stocka found moderate changes. Scattered gains were recorded in the scation. Some nationalisa-
tlom izsites were in demand.
Gorman bonds highlighted The foreign bond department. Japanese lens held unchanged in quiet tradinga.
Dollar stocks eased in line with Wall Street-United Press.
Exchange Rates
opening
Mas
July
September October
Morch
May
July
September
Spot(cents per ib, fob Cuba) 330 Contract No. 8
May ....
5.50
4.01
0.42
5.55
United Press.
July
September
November
Spot (cents per lb. cit NY
ex-duty)
LONDON METAL PRICES
London, Apr. 10.
The Un market was steadier this aflamoon. Prices closed Today in sterling per long ton ns follows:
buyers sellers
103 704 700
103
150 g 22.40
10.60 Electric.. 29.90 2014 700 og 30.
Business was done in the local unofficial exchango market morning at the following rates; UB. dollar (per 1) Sterling noten (per £1) 300 10.00 Australian hotes (per
Tin spot
thin
3-month
150
Capper spot
363
1.65
3-month
1
15.70 Lead 2nd half Apr 12.44
23715
1139 11325
July
1134
July
Macao Electric
.. 0.00
Telephone
..Rights
.. 22.60 23.10
12,10 12.30 700
Bonus.. 29,10
Rights. 19,10
were | INDUSTRIALS -
Coment..... 3334
West Germany, whose major cities destroyed in World War II, has built more than 3 million new homes since 1949 and expects to reach an all-time record of 650,000 this year.
Construction of these homes costs A estimated capital outlay of about £3,481,000 and has provided shelter for roughly 12,000,000 peoplo. But Bonn Government authorities estimate that 3,200,000 housing units are still needed to provide one for every West German family.
THE CAPITAL
In 1955 the capital outlay on
housing totalled about £750,000.
47 per cent of this swa Was
German unskilled worker Js
about £23.
Another form of government subsidy la granting of vellet to the builders. Rents are not controlled for these apartments except La special sircum- states and they are not subject
control
distribution by and the housing offices. But the bulider must undertake to con- struct such homes only as part specific government-sup- ported housing programine.
of a
'CONTRIBUTIONS"
STORES, ETC.
Dairy XD Watson
COTTONS
Textiles
122 20.10 Indonesian rupiah (per 100) 18lo zine 2nd half Apr.
(4 19.10 Bigm tleal (per 100) 494 10.10
34 100
9898
10
400 0 10.40
10.00
11214
530 535 603 an Nanyang..., 7,00 2000 730 MISCELLANEOUS
Yungtao.... 4.40 4.53 1000 7 0.50
WORLD RUBBER MARKETS
New York, Apr. 19, The No 1 Rs-rubber
Stocks lost ground in routine trading today with turnover dropping to smallest total since February 16.
Sales amounted to only 2,210,000 stitutions, Insurance componies ing of so-called "contributions futures closed today 30 to shares, compared with 2,470,000 yesterday.stitutions.
Losses appeared in
most of Cat, Tractor
de the leading groups but general- to the other in a move to adjustly were small. market positions pending Arsl
sales, expected next week, out Market commentators saw the
nearby
weakness
lighter volume on the decline as
Chryster Motor
Celuk CVIN
Coca Colar Colgate-Palmotive Co. Commercial Credit
Crane Co..
0912
123
016
Commonwealth Elee.
42) |
3054
at
B favourable indication of Do real liquidation behind selling
Chawn Zellerbach'
મ
the
Cuban Amer. Sugar
1434
Diamond Alkeni
sats
Dow Chemica
20
Bjar
221
2414
0114
37114
of the Government surplus alock.' The
July delivery showed relative times, extra liquidation there Declines of a point or 50 In
Dupont the Nemours in anticipation heavy
Allied
Chemical, American Eastman Kodak Bethlehem Steel, Eria zinad contract tenders. Experts re- Telephone, called that July will be the last
Tyre, International Family Finance CUTP. Standard the 15/16-inch Nickel, month under contract base.
of
Goodyear
Ford Motor Oli of General Electric
Gen. Pub, UU} Callfornia, Texas Co. and
Glidden Co.
October also mel scattered | drop of almost 2 in Johns- Goodrich (BF) Co. nelling against purchases of dis- Manville weight on the in- Goodyear Tire ......
ont May on the theory that dustrial average. It hedging pressure may be heavier 2.22 on the day.
in the autuma when the new
стор
droppexi Ingersoll-Rand
Rails were off 0.69. Out of a
will be under harvests at total 1,166 issues traded, 600 were lower, 315 higher on the
a time when first shipments for
export begin under the surplus day. sales programme.
The certificated stock remain point in Continental, Pure Oil,
ed unchanged at 11,200 boles.
Month
May
July
October
December
March
May
July
October
Total
| Inlord' Steel Co.
Int'l Bunkies Machines Int'l Harvester international Nickel.
International Paper
Int'l Tel. & Tel. John-Marville Co
The Government estimates that nunced on open capital market through savings banks, build- One of the most common forms Ing socielles, mortgage
in of private financing is the levy-
Some 55 points lower with sales in- to building costs."
to be paid of 213 contracts, these have #543 down before construction of the was building begins at all. In other cases they must be paid to the or builder before an apartment
may be talen over.
and
menta
social insurance
are
In
merely
Singapore (Straits}
·
*
26.10 1.00
0712 部
902%
United Press,
P.OB.I
E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE,
Outwarda "CORFU" "CANTON"
"CARTHAGE"
Leaver London
Bulled
Qué Hongkong '30th April
25th April
23rd May
"CANTON" 18th July
28th May
26th June
7 20th August
Via Southampton, Port Bald, Aden, Bombay, Colombo,
Penang di Blogspore-
*
*
Homewards
Leaves Kangkang Due London
*
**CHUSAN"
29th Apri
27th May
"CORFU"
4th May
*
#GANTON"
*
"CARTHAGE"
*
**
#
1st June
4th Jun
2nd July
29th June
31st July
Aden, Also calls MARSEILLES,
Via Singapore, Panang, Colombo, Bombay. Port Bald & London.
"SUNDA"
FREIGHT SERVICE
loads 23rd Apr.
*
a
The standard contract closed Another 30 per cent
lower 30 to 50 points
with 174 Inanced by subsidies from the
no sales
reported. Lower 70 Federa) Government, state
Singapore-London cables plus and local governments
other
speculativo liquidation and AB use of public money.
Some forms of "contributions hxige selling in the thee of The remaining 23 per cent to bullting costs" can be effset trade buying, kept the market under mild pressure throughout was financed privately through and deducted from the rent over
the day. individual capital, loans by the next eight or 10 years. In
where In the chipment
market, employers, advance rent pay other cases generally
lower---the "con- dealers, reported there was "con- the rent is and so-called
tributions" tributions to buliding costs" by legalised foam of "key money."
"fair busines." Indonesian
offerings sheet prospective tenants.
Included April/June sheets ht The amount varies in different 31 cents, Since 1951 financing
or July arrival, laz
which would be about 1⁄2 cent open capital market has played cities but a good average an increasingly important com around £238 to 2817 per room above the current market. Two sheets were offered at 3115 in Germany's housing campaign. for apartments in good locations, In 1851 less than 30 per cent in the caso of smaller apart-
unsold. was financed in this manner, ments in working class districts sent, cost and freight, and 11 the total may be only around whereas this year it is expected £150 for a three-room apart
for this is that acuto capital
on the
ment.
to be about 50 per cent.
The reason West
Germany's
"The fact that few workers in shortage which followed the
present-day Germany have any 1840 currency reform has been private savings to finance such overcome to a great extent and outlays repulls in frequent ré- banks, insurance companies
and building societies have capital guest to their employers for Banks cover them. to lend at much more favour loans to
usually refuse small loans.
Homatike Mining Co.
402
1330
Kansas C. Power & Light.
Kernel Copper Lockheed Antraiz
Loews Incorp..... Lone Star Cervent Co. Lowenstein & Bona
13114
218%
66
130
able rates than a
03
476
with National Dairy Prod.
and National Lead
444
New York Central
alles Mathieson
In oils, losses ranged to
Texas Ca, Standard of Philips Petroleum, Royal Dutch, Sinclair and and Shall, however, added more than $1.
Volume Open interest California,
34,000 47,000
210,100 200,200 38.700 $14,300
17.800 118,000 8.400 09,700
700
2,000
03.700 1.000.200 bales NEW YORK
In metals, Reynolds were up
Meshi Iron Corp.
Minnesota Mining Mission Development
Motorola ne.
Montgomery Ward
nearly 3 and Alcon off more than National Cash Reg.
2. Motors were 1BETOW
General Ford,
Motors Chrysler each off fractionally.
New York Stock Exchange
Prices of futures closed today bond volume was $4,220,000.
American Stock volume was 1,240,000
Ota Elevators
Owen-filinals Gines
Pacifto Western all Bun American Airways Paramount Pictures
Exchange Tarka Davie Co. shares, Penn Ball Co.
Philip MorrËN
averages | Pittsburgh Plate Glass
Publicker Industries
Puro Oil
304.23 Radio Corporation
171.03 Republic Eteat....
05.30 Reynolds Metal
4716
1012
Dy follows:
Bpot
MAY
210 доп 23.73
July
12.03-03
Oct.
37.00-12
Dow Jones closing
Dee
22.10
were!
Mar.
32.24
May
34.23
30 industriais
4014
July
31.61
20 Talis
40
Oct.
30.00
18 utilities
05 stocks
NEW ORLEANS
40 bonda
00,01 | Saint Meg. Paper
41
Comm. future price index.
108.20
Sinclair On"
019
Camm, apot price index
10.03
BeconyMoblloll
Moody's index
410.00
South Puerto Rico Sugar Bouthieni National den
Closing Prices
Southern Railway (Com.)
Biandard Brands
Standar Dil of Ind.
Alden Inc. Acy.
Standart 1 of NJ.
120
Prices of futures closed today
as follows:
Nay July
LIVERPOOL
SÕNARANCS
30.90
Futures closings, in pence
lu. were da. Follows:
Old contraét· Migy/June
Tuky/JAHE.
New control MRY)June
Out/Now.
Agyptian Kamak: Mer/
per
2.20
Allied Chemicals Allis Chalmers - American Airline Am. Mach. -&-Fdry American Metal... Janaritan Smelling American T42 44 703 Aittorican Tob, “g“
Anaconda Copper
Armca. Bioel
94.16 Hadwin-Link-Han,
20.06 alumbre
1972 DongIR-JAMIAUON Corp. **** Bengues Cons.
MP3|| Bethlehem Bioel.
DONDE AUD
Canadian, Pacific, R. 19,
179,05 | Buell Out Co.
Standard Oil of Cal.
Bloriing Drug Co.
50 Siakoly:Van, Egini,
2414 Stulpboker Packard Corp.
034 Texap Co.....
few years
The interest rates of mort gages, which ran as high as 12 per cent five or six years ago. have now dropped to 5
six per cent.
LOWER-WAGE GROUPS
four and five sheets with prices Slam offering included three,
1⁄4 cent higher than those of Indonesia.
Futures:
In Fort jalla 2nd Apr.
for Spore, P. Swellen- Aded. ham Penang, Port Bad, Alexandria, Genoa, Marseilles,
Havre, on an burg. Itotterdam Antwerp
from UK.
&
fot Japan With liberty in call at Belawan before or after. Straits Ports and at Bombay if inducement offer. Tanks avaliable for carriage of oil in bulk. Space for refrigerated cargo. Limited Passenger Accommodation.
+
"SOUDAN"
*
*
*
*
*
*
Contract No. 1 Flas
**
May
31.00
July
31,40
*
Bapt.
30.00
Dec.
30.10
*
Contract Standard
May
in What
July
Sept
Dec. Mar.
COSTS SOAR
SINGAPORE
30.00
BRITISH INDIA 5.N. GO., LTD.
1850 A HUNDRED YEARS OF SERVICE –– 1933
from Calculta "ORMABA" due 20th Apr.
anila 21st Apr. for Japan
"SANTHIA” walls 24th Apr. for Singapore, Penang,
Rangoon & Calcutta
P. & O./B. I. JOINT SERVICE "SUBADAR" sails 20th Apr. for Singapore, Madras Colombo Be BOMBAY from Bombay & Kanchi for JapaTA from Japan for 'pore, BOMBAY, Karachi, Bazrah, Kisor. ramaliahr & Kuwait
*
*
29.00
"ITAURA"
"ITRIA"
There was some selling in the
Building costa prGermany generally have shot sky-high since the Korean war. At present they arợ roughly two-and-a-half times the pre war figure, which is somewhat Government-subsidised build-more than the Increase in wages ing is designed to aid the lowest during that period.
In an effort to halt a dare income groups. Under this pro- gramome the federal, state or rurous slump in coal production feral governments offer loans to and a drift away from the builders at usually low interest mines the Bonn Government has launched a special, programme rates.
Housing units constructed un-of housing construction for conlibber per ib. Mar 01
The programme calls der these programmes are, con miners. trolled by the local housing for construction of 23,000 homes No rubber per ab, aler offices and are allocated only to this year, mostly in the Ruhr. No. 4 high priority calogerica of aparea,-United Press.
100 plicants. These include familia
boy
*
bombed out during World: War
If who will have pa bomes, of QWTY crippled war veterans,
ASTMES WRE
3015 swift & Co...
230.
53% THE Water Aam, Oil
80 Twonly Condary Fox Faim
180f
911 Union Carbide
2011 Tuion Polna,
10% United Airerett
果 VA Rubour
BILL US Smelting
Woolworth
and released from
prison.ory recentsoners
Soviet Union and from the Savic zon
The
is Imur them apartments:|
law-mid they mAY-
be rented out only at low con
trolled frentar
The masimman la
04, 1/6; per square moire monthly
London Foreign
Exchange
1001 Art averago apertinens of this cur
kind would be renewit as from R+140 to £6-12-0 a monks.
Stockt
othera
morning on the rubber market. but offeringes were gradually, absorbed by trade interest. The market steadied and advanced during the afternoon, and there was some factory interest. Future clasites were:
Hipot, rubber unhaled
Blanket crepe No. 1 pale, angpa
Juno
July.
LONDON
The market *wne, quiet with the-spot quoted at
$714-2734
que 28111 Apr. Kails 29th Apr. dup 2915 Apr. salla 30th Apr.
FUMARIA" dus 29th Apr.
"OZARDA"
Laut May
from Japan for 'pore. BOMBAY, Karachi & Bhaunagar dus Otis May from BOMBAY Walls 8th May for Japan'
EASTERN & AUSTRALIAN S.S. CO., LTD. "EASTERN ada May for Bandakan. Rabaul, Brübene, Bydney” Mel- bourne, Geelong & Adelaide
"AKAPURA" dun 12th May from Australia
"All vourela have liberty to 'eall at any ports an or uff the route à the route & sailing are subject to change or amendment with or without notiée.
For full particulars mpply for t MACKINNON. MACKENZIE & CO. OF HONG KONG DID. Teligione Has 2771 4
*
+
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