TRADE
THE CHINA MAIL, FRIDAY, APRIL 27, 1956..
and
1
COMMERCE
NEW QUOTAS FOR IRANIAN
TODAY'S SHARE PRICES
(From Our Correspondent)
Busimas done on the Hong-
kong Stock Exchange
norning umutes! In approx¦-
IMPORT TRADE
Currency Regulations
Set By Teheran
London, Apr. 26.
New quotas for the Iranian import trade together with new regulations for transactions, have been an- nounced in Teheran, according to advices received at the Iranian Embassy here.
mately $200,000 Nom quotations | currency and the morning's transactions
SHARES BUYERS SELLERS SALES
BANKK
JK B
1603 1073
រងោរ
10175
tu
Fant
AM
2:00
INSURANCESC
Luton
1
الا
SILIITING
Winter 2mit
10 20
DOCKS ERK
Dok
Pasy doent
CO
Alperna de
LAND
S
42
1.
امرم
151
dollar and 214 to the mate-sterling.
Commercial imports will 25 line cunic
uruter ww BORDES Psi
and essenbal Reaxis according to The Essential imports wit he bimited to 4,000 million tats annually Separate quotas are established for each individual nun-essential imports and to hist nf these as being published. De- trils are expected to the lodget with the Iranian Embassy here th the near future.
11
tunderstood that the National Bank of tran will grant
[14
Bal
1 ሥነ
34 Pil
JSK
Healt
11
123
SAR 1+
- ጉ ...
RUKAMER
A
HT
140
Sungate
2400 240 BARK
J40
1
221, 22 70
102 104
271,27
Stay Pert
Smelt Fetis
TORI ND
New XD
..
Jeep
11t INDUSTRIALS
Hope X
לל 11
2
1
19 20
1950
2290 11
34110
12
25354 JON
37
1130
Daos ND
1
334
INSTTONS
Teeth at
Nanyang
MINCÉLLANEOUS
Yangtze Allied
190
#70
662
6 40
pound
11- Goods from countrie whtleb are not linked directly with the Iranian currency through the National Bank of Iran may be imported to the value of Iran- ian exports to these countries, Barter deals such as these will come out of
of the quota for the Imports concerned. As no transfers exchange will be effected. frantan Bank will accept pront of wetunt import as proof that foreign exchange undertakings been fulfilled, H
Butlers of credit aral other docu- #nents for its of these | have "within the limit of the quali | stated. and according to the availabilty
at foreign exchange "
New Footing
-
Foreign exchange dealings are being put on a new footing stead of the oMeial rate which the Government paid for its re- quirements and a res
Com-
number
foreign
the
wag
WORLD
COTTON MARKETS
New York, Apr. 26. Narrowly irregular price changes accompanied a slow
trade in cotton futures to day.
Nearby deliveries showet 1920 Intive steadiness, responding to trade buying and covering in May/July deliveries, while
new crop months were easter as buyers marked time pending de- velopmats
100
SECTION
SHARE MARKET CLOSES HIGHER
-ON THE WEEK
By A SPECIAL CORRESPONDENT An odd market this week. The adjoining panel which gives the week's movements shows a rise. In fact, there has been a risc but seen more closely the movement has an undulating effect.
It is difficult to use precise terms without careful qualifications. The market was a shade better, then liquidation caused a gentle dip and yesterday afternoon it appeared to be flattening out again.
Hence the undulating effect. Tumover is up-slightly: $3.17 to
Page
Firm Undertone
In Certain London Stocks
London, Apr. 26. Stocks closed generally irregular on the London Exchange today, although sections showed a firm undertone.
Losses running to a shilling were fairly numerous among leading industrials. But selective buying sent others ahead be- tween one and two shillings. Imperial Chemicals gained on
a good year-end statement.
Fractional Losses
Government
More than 120,000 have from changed hands in the last three $3.59 million. And days with
British the closing price compared with last week's rates, hovering around $1.50, fraction- 19 Issues ore higher, six areally lower on the week. steady and only four tower.
been
The rubber market has aull, with the exception of 1 sudden spree in Amalgamateds.
WORLD
RUBBER MARKETS
At the close the list ruled up 2 off 12 points. Opening prices were up to off 4 points. New Orleans closed off to 2 points
notice, One transferrable involving bales, appeared against the May contract, the fe tender to date. Denlings in May will end on May 14. Open position in May at the start of postaon
today totalled 157.000 The certificated stock remained at 11,209 bales.
Statisticians
the recent dally average volume in futures around 83,000 bules, or about half of the daily rate last futures closed today and the
points lower to 13 points higher with sales of 220 contracts.
of
in acting banks
bales in foreign
The authorised to deal exchange has been Increased. instead of the monopoly of the Iranian National Bank In this Two commercial banks Beld (the Bank Basargodi Bank Sepah) have been author- Ised to start dealing
during
March, and a third commercial bank the Bank Parry is being
merelat rate, a buyers and set- ers rate for foreign exchange tennisuntions on commerelni pes ¦ Parifiorted this truth, eint has now been established.
All exports fall within category,
Welpe i
and the foreign ex change rate for these is 75 mal
to the dollar and 210
¡pound sterling.
1 the
require
Based On Difference
It is uzcterstundl that one Clause in the niche regulations means that importers who want Importers currency
to use foreign exchange hold- ments are being deal with innga abroad to finance import Itwo entegories For the bulk of
will have to pay one per cent trode, the rule at which am- of the value of the goods to the Government and will also have porters can buy currency
To pay a alim based < the differ between the trial buyers and sellers rates of ex- change.
35, tona ng 545 Tbeen fixed at 70,50 nals to the
New York Stocks Lifted 1 Billion
·
New York, Apr. 26.
Sharp gains in rails, oils, steels, air- crafts, chemicals and metals lifted stock values around 1 billion in a
active session today.
With
Boow E
ellent first quarter regns and some good dividend new spark- ing the
se ndustrials gad 4.10 points in their average und ads 071 with the laties Luch- tra high stuce Ort 1926)
Vidites
line v
Roops
sveturave
more
Parral Alkali
Thow Chengcal:
Dupont le Nemours
Kastriran Kurink
El arte National Gas Krte Pahoad
Partly Finance Corp Ford Motoro
15. | General Electric
major avenge
Pacifie Clas
pulled down by losses of around
puchi
People's Gas.
General Fak General Motors en Pub Eti
Glidden Ca
Goodrich (BF
Goodyear The
and Hayden Chenierd
Honstate Mining Co
Turnover totalfed 2,020,000 steroll-Rand
ind Steel Co
shares, compared with 2,270,000 ₫ toterchemical Corp. yesterday wird heaviest kiner i mit Business Machines
April
12,
Up
Bethlehen Steel inoved nearly a point in advance of in after-the-close report of re- curd first quarter. Aluminium Lid ran up nearly a point on a vidend mereas Shell CHI added more than 3 on a record Test
The In quarter.
rails, Ohio Chesapeake &
climber a point as the company curly a
told stockholders it (oks for a
record year
Out of a total 1,100 issues appearing on the tape, 605 were higher, only 330 lower.
Big gainers in the oils in- eluded Royal Dutch, up nearly 1 and Cities Service and Continen- ial, each up more than 2 points. Ford paced motors with
point gain.
Closing Prices
Alden Inc. Acy...
Allied Chemicals
Allied Mil
Allis Chalmers
American Airline
Am. Cable & Radio Corp.
Amerizon Cyanaenkle Co.
Am. Mach. & ? diy. Americas Ateli American Emeting American Tel de Tel American Tob. "D" Anneonta Copper Arinco Bleri Armottr
Baldwin-Liga-Kam, Baltimore & Ohio
Bendix Aviation Corp.
In Havenler
Int'l Tel. A Tel.
Kanais (. Power & Light
II. for example, an importer Duys 41,000 worth of goods from his outside foreign
-XU
change holdings, it is understood that he will have to pay 4.000 rails to be Government--this being based on the difference be tween 210 and 214 rials to the pounds 141 the banks' omelai catmercial rates.
Monopoly
It is understood that the new lists prohibit the export of cer- Itain goods including platinum, gold and silver (except in the ferm ul jewellery). pirelous stones (with certain exceptions), livestock and meal, grains and their derivatives (except maize). butter and animal fot
(other
weck.
cntimated
of
Unfav grabiy
lop accounts. emphasising the need for t planting because of unsesizombly cold and rainy weather, also high-lighted complaints of an boli extra-stavy persence werelds
dils spring in central belt sections and warnings about the limited supply of quality seed needed for replanting.
Producers loan Entries for The week endert April 20 total- fr 20,862 bakes. Receptione amounted to 30,506 balus. The net stock of 1955 crop colton in the loati talled 0,317.685
bales,
Volume Open Interest
1,000 157,000
293.201
293,200
Djoco 120,000
2,000 107,700
Month
May
July
31,100
Oct.
12,700
I'
Mar.
Mny
4,000
122,600
July Ort
2,000
1003 OU
700
Total
1,000 73,000 1,591,200 bales
NEW YORK
Prices of futures elored today na follows;
16 05 33 43 37.23-24
Sp
May
July
Oct.
Dr
Mar
May
July
NEW ORLEANS
115
New York, Apr. 26. The No. 1 Roa rubber
10
The standard contract closed
16 points lower to
points higher with sales of two
con- tracts.
Scrip Scarce
on
stocks and oils enjoyed good buying support, with the gills up around £. War Loan was a features Raining about £5/16.
Royal Dutch paced the olts, Demand has been small
£14. but adding nearly
Shell then at times scrip ຍິງແ been advanced about three shillings. scarce and the market seems to while other leaders gained one have cen Jum
nned off to two, balance throughout the werk. Foreign bonds were idle with One or two shares made good changes confines to fractiona)
The whart section was rises.
losses among a few strong with Wharves, Docks and lens. Providents all showing
gains.
Dollar stocks showed an easier
ICI INCREASE NET INCOME
London, Apr. 26.. Imperial Chemical's not inrome in 1856, after taxa- tion and other charges, was £23,077,163, a rise of 10 per cent over 1954's met income of £21,741,904.
Final dividend changed at 6
was un- ber cent, making 10 per cent, less
tax, for the rear.-United Prest
German New York Foreign
Brokera believe that theirend during most of the session,
Wharves balance sheet
which although there were some gains
running to $1 at the close.
was better thơm expecter has helped sentiment. These IT'S have now gained $0 in less thom a month.
Hongkong Banks were a shade off at the close, but Unions have kept roughly steady.
!!
After leading the advance, Uliitles yielded slight ground in the midir of Ther week were better resterday afternoon and closed higher.
Interest In Wheelocks
in
the
section
Dealer and commission house ewitching
between operations deliveries made up a fair portion of the trade. A steadier under- {tone generally was coupled with the action of the London cables. In the shipment market, agents reported fairly heavy offerings
of remills from In- |donesia, but with few takers.
Sheet offerings were moderate, but held above a workable basis.
Agents indicated the nesion and Singapore offerings they silpped back to now are about on a parity.
shipping Waterboats and Wheelocks have tacked on useful gains, Water- boats, $1.10 and Wheelocks 25 cents.
Wheelocks appear to
bc at- tracting days. Last week turnover was more attention these
cents. This week turnover was 38,100 shares and they rose 15 27.800.
The highest price was Indo $.80
carlier in the week, but 50:00
ге
Factory interest locally mained dormant. Spot No. 1 fizė was quoted nominally at 30% cents a pound.
Effective July 1, the current basis for spot quotations will be discontinued. Beginning in July, the Rubber Trade Association each day, at 0200 GMT will irsus delivery quotations brazed for any time during the current calendar month. Prices;
No. 1
10.30
more
comfortable level of $834-$8.70 yesterday. Afiled has also been on the mend.
Cements, after withstanding fairly substantial selling, closed firm at $35.
this week.
Textiles closed slightly higher Cottons should be doing better-prospects
appear to be good for the months ahead. Order books Bro full up, spindlage is going up and pro- duction is going ahead merrily In most if ne all factories,
Textiles have been nogtooted for some me, but this week they came in for demand
nade a small gain.
2.20
32,80
32.94
32.30
31.01
30 BA
May July September Dupember
30.40-45
29.65
Standard Contract
Prices of futures clored today
33.40
May July September
30.14
30.30
29.03
35.12
December
29.00
March
30.25
33,22
May
2013
32.12
52.01
In the Stores section, Farms have been more active
Dalry
32.45
cầu-
12.137
31.03
30.03
as follows;
NO
บรา
2133.
411
22
24
00!
!
+44
3044
381
$4
tban baron), chartal, raw cow hides, raw jute, metals (except inetal goods where labour Tên presents 70 per cent of value). serap metal and cotton needs.
Other
exports which come 373 under Government
include tobacco. petroleum pro- Aducts, timber, trees and seeds,
bran and oilcakes and rice 874 China Mall Special,
Spol May
July
The
Mar
May
monopoly
July
Del
LIVERPOOL
лага
400
#22%
071-8
62-94
303-107
Tho market was quietly steady with spot quoted at 26-7/10 pence per lb.
*
Farms Slip Back
Tuesday:
Copper shares retreated on a broad front; Rhodesian Selection Trust and Rhokana were major losers. Gold shares opened casler,
Exchange
New York, Apr. 20,
England offclai
2.00.13/10
2.80.3/10 2.39.1/10 2249% 2.79.13/10
30-day futurea -day futures
2013
2101
2:09
-United ProSTL
Austrila t freshened on speculative New Zealand buying late in the day and closed
South Africa Indin with tile net change.United Pakistan Press,
POBIE&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards
"CORFU"
"CANTON"
*
"CARTHAGE"
"CANTON"
*
**
Leaves London Due Hongkong
falled
23rd May
fath July
30th April
20th May
23th June
20th August
Via Benthampion, Port Sald, Aden, Bombay, Colombo, Penang & Bingapore.
Homewarda
*CHUSAN”
"CORFU"
"CANTON"
"SOUDAN”
week
International Nickel
International Paper
20.00 No. 1 pale creps
Jestu-Manville Co.
Dec./Jan Mar/Apt.
20.20
LONDON
Kenney Comper
Lorkheed Aireraft
40
Lews incorp
21
World
Lone Star Cement Cu
121
Tuinville & Nashville 1.
97 Chused today
Lowenstein & Son
24
ito
1 point
New York, Apr. 26.
No.
4 sugar futures 2 points higher tower with sulcs
Meat Iron Cur
324
of 100 contracts.
Minnesota Mining
MEX
Egyptian Katnak May/Jung
SAO PAULO Future closings. In cruzeiros per kilo were as follows:
May July
37.83
Prices;
No. 1
2011-2015
Settlement house term
June
2014-2016
30.00
July/Sept.
2516-2372
32M0
Oct./Dec.
39
October
31.70
Monsalim Chenileal Co,
14
Jan./Mar.
December
34.55
Montgomery Ward
Maturola Te
10%
National Cash
Reg.
4335
of 200 contracts. World raws
March
34.00
374 sicady in line
ruled quiet and
In the US the average price of with the raw 15/10 middling cotton
May
June
at
14
July
110
7414
87%
47 by
market.
Domestic futures weakened 35,38 cents. Sales totalled 7,049 under liquidation touched off balcs.--United Press,
the unexpected overnight Government announcement
designated spot markets was
Estate crepe
tlun
thick
291-251 243-24 General markets, clf batis, porta:
23-25-14 25-20 2396-2516
30% unquoted United Press.
to
Thursday:
drift lower: T/O: $710,000. Business restricted; prices well main- tained;
steady:
T/O:
Mlinn Development
National Dairy Prod National Lead National Steel Corp New York Central Di Mathieson Oil Elevators Owen-linols Glarn Pacific Gas & Eleg. Pacine Western Oit Pan American Airways
Tarusaunt Pictures
Parke Davis Co.
Raulo Corporation
Republic Steel ...
Reynolds Metal
3012 Shell Oil Co.....
527
10
Domestic No. 3 sugar futures closed 2 to 4 points lower with sales
Leaves Hongkong Our Sondon
rutti April
27 May
4th May
4th June
1st June
2nd July
31st July
Aden,
for &'poro,
New York Sugar Market
Exchange Rates
Busine was done in the focal unofficial exchange
morning at the following rétes:
Indonesian rupiah tetper 190) 11.00)
SINGAPORE
Again liquidation was tiously absorbed by trade today in the market with more activity. Futurs:
No. 1 rubber per 1. May 8714-875
June 87%-0731 July unquoted No. 2 rubber per lb. May 06-601 No, 3
00-101 J 25.45 No. 4
0411-8515
Future closings, in pence per 1b, were as follows: Old contract May/June July/Aug. New contract May/June
July/Aug. Oct/Nov
Electric
IIK Telepliond 0.1. Cement
Dairy Farm
+1
24.70 Spot rubber unboled
29.60 Blanket crepe
22
than usual, but after climbing Jo $16.70 earlier in the silpped back to close nt $10.30 yesterday.
Here is a diary of the week: Friday: Sentiment better: fractionnily prices higher following stedinces in Utility T/O: Kroup:
opens stendy: prices climb, then liquidation. TVO: $960,000,
$540,000.
Market Monday:
Moderate trading: prices move either way fractionally. T/O: $800,000, Wednesday: Prices tend
22.00 10.70
22.78m 35
n
"CARTHAGE” 29th June
Via Singapore, Penas, Colombo, • Bombay,
Port fald & London.
* Also calla MARSEILLES
"SOMALI"
FREIGHT SERVICE toads juth May
for Singapore, P. Swot- tenham, Penang. Adeo, P. Saki, Genoa, Mar- seilles, London, Ham- busd. Rutterdam Antwerp
dun 24th May from UK.
With liberty to call at Belawan before or after Straits Ports and at Bombay It inducement offers. Tasks available for carrings of oil in baik. Space for refrigerated cargo. Limited Passengre. Accommodation.
BRITISH INDIA S.N. CO., LTD.
1858 A NUNDRED YEARS OF SERVICE — 1958
from Calcutta "SANGOLA” due 18th May
ails 16th May for Japan "ORMARA” dus 14th May
aniju 100s May
from Japan
for Singapure, Penang, Hangoon. Calcutta Chittagong
P. & O./B..Į, JOINT SERVICE
"ITRIA"""
"FTAURA"
"UMARIA”
dus th Apk. kalla 28th Apr.
from Japons
2
BOMBAY, Karachi, Basrah, Khor ramahadir di Kuwait
dus 20th Apr, · from Bombay & Karachi salis 30th Apr.
dus 20th Apr, Bilt May
"OZARDA" duo 0th May
walls th May' "URLANA" due. 11th Mar sxile 10th May
for Japon from Japan
Madras, S'pore, Colombo,
BOMBAY, Karachi & Bhaunagar
from DOMINAY for Japan Trom Japan
for 'per", DOMDAY, Karachi, Barrah, Khor= ramanafit de Kuwait from Bombad for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"EASTERN" loads (1th May' for Sandakan, Rabaul, Brisbane, Sydney Mel- Douras. Genlong de Adelaide
-“ARAFÜRA” due 10s May from Australia.
All vessels bave liberty to call at any ports.on or all the route ✯ the route & maliling kro subject- to change or amendment with or withouh: notion.
for full particulars apply to: MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos: 27721-4.
5152
4734 boosting the domestię marketing
quota by 100,000 tons, effective
331 May 1.
Traders said the action was a surprise since the belief lately
in the trade had been that the Administration, aiming to bols.
ter farm income this year, would not frown on a slightly better average price for sugar futures.
No. 4 Contract
$490,000,
undertone
* The Share Market At A Glance ★
HK Bank
Lombard Unlon
Contract No. 6
Penny J. C. Ca.
lenn, Salt Co.
Philip MorTİN
13 450
Mar 29
Apr 5
Apr 12
Apr 19
Apr. 26
1870
1680
TORK
$ 2014
Fructer & Gamble Co.
100
123
09340
5644b
68b
Pitteburen Plato Glank
33%
Tablicker Industries
04
D700
970n
980b
1080
Bon 900
1675m
60
0906
Pure Oil......
4015
Underwriters
0
8.00b
în
23
4012
Union W'boat
1740
17140
.19
Dn 19b
ย
4UT
73%
7344
Wheelocks
8.40
8.35
8.30
8.46
On 20.10b 8.10
"ITOLA"
due 27th May
salie 2011 May
00
May
3.34
HK Whart
726
73b
7135xd
78
16
03
Saini Heg. Paper
July
3.37
IIK Dock
3244b
3414
3014
4814
.374
65
inclair Oi
07
Soot.
3.38-39
Socony Mobiloil
70%
Oct.
Provident
13.10
13.20b
13,70
13.80
13
South Puerto Rico Bugar
2714
Mar.
3.33
HK Hotels
14.20
7016
Southern National Gar
341%
May
3,5
14.20 61
14.90
13.80
13.801
RK Land
01/
0114
0211⁄2
213
Southern Railway (Com.)
118
Spot-(cents per 10.
Standard Brands
4044
Cuba)
0.30
Humphreys
17
17.60%
17169
11
17.40
14%
Standard Oll of Cal.
105
11K Realty
.1.40b
1.450
1.475
1.425b
1.475
Standard Oil of Ind.
BATL
00
Standard Oil of NJ,
July
HK Trams
23
22.80
22.60
22.50
22.60
3012
Dengart Conn. 1-
Nethleham Breel
24 Sterling Drug Co.
Sept.
Star. Ferry
1351
1351
130b
13In
130b
Nov.
Youmalis
101
108
101
Stokelynn Camp,
181
Boeing Airplatio
Borden (The) Co.
Burroughs Ada Machins
Canadian Pacife R.
Coat (J. 1.) Co.
Cnt. Tractor
Celanese Corp
C. I. 7. Financial Corp.
Chase Manhat. Bank Chrysler Motors Coen Coln
Colgate-Palmolive CD.
Commercial Crmilt
34 Tide Water Aen. Oll
Twenty Century Fox Film
60 Union Carbide
17 Union Pacile Railway
43 United Atremft
40 US, Gypaum
20U.B. Lino Co. 12234 0.8. Rubber
no7.9. Betting 40178. Stool
841
Studebaker-Packard Corp.
wilt & Co.
Spot-(cenin per lb. eif NY
Ch Lights (0)
21
22.20
ex-duly}
0.50
Unliex! Press,
Oh Lights (n)
18.70
10
10.40
Texas Ch.
20.70
22.20
3414
29.80 22.00 -36
30 32.90
101
22.40 10.70b 29.70b 22.00b
103
2014
1251%
17.10
17.10
A.S. Watson
11.20
34 15.70xd 11.20
market this
Lane Crawford. Yangtzo Allied
3611
34n
14n
3334 10.10b 11.10 34n
16.20
11.20
Commonwealtie · Eleo.
40
Consolidated Edison
47
Warner Bros. Westinghouse Electrio
US dollar (per #1)
0,60m 3.10 11.50n
0.50
8.50
5.10
5.10
· 036. 6.15n
01.60 6.40
--11.19mm
11,30%
11.30.11.20
Storling notes (pợc £3)
Australian notes (per
1
Continental Oil óf Del.
Wort Vo. Pulp & Paper
Tortile Corbi Nanyang
3,40
4.28b 7:405
+5.25
*,5,45 ·
Crane Co., 19
90%
WOOLWOrth
Blans tical (per*,100)
Crown Zallarbacts ...
United Prean.
Singapore (stralia)
*
*
*
*
*
*
*
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