TRADE
THE CHINA MAIL, FRIDAY, MAY 11, 1956.
and
COMMERCE SECTION
Page
SHARES SAG IN DULL MARKET Anaconda Gas For
TURNOVER FALLS
TO UNDER $3m
By A Special Correspondent
Demand sagged on the Hongkong Stock Exchange this week and in dull conditions, many share prices tended to edge down slightly.
Turnover fell from $8.31 million the previous week to $2.77 million this week and of the 29 sharts listed in the adjoining panel, 10 wero lower, 18 were steady mid only six showed rises,
Wheelocks, one of mainstays,, of hat market, attractul terest this week and 25,000 shares-less
the half the previous week's week's | turnover-changed hands. leg in- The price was unchanged
about on the week-It moved be
thun tween $8.90 and $8.85.
TODAY'S SHARE PRICES
(From Our Correspondent}
done on
Buonoss
the Hong- koly! Stock Exchange 113 morning gwribunted to apprezel- mately $248,000 Noon quota- Hots and The manenang'a trans- actions
SHARES MYFRN HELLERS SAIKN
MANKY
1 Bank Best Asta
INSURANCES
Union XD Lenhard SHIPPING
A Nav DOCKS, EIT
K. Whort Thak
Provident (0) Wheelock
LAND, Te
HK Land
Humphreys
Realty
RUBBEN
..
LOTO 201608
*******
07215 55 60
122
200500 1.22) |
473 040
200
300
1
it is 123 13.80
490
13 70 13 b 1000 M 13 80
17 40
1.49 150
A Rubber 12331 373
Trunt
UTILITIES
Tran
105
22.00 22 70
600 4 24.70
230
150 m 137
Star Fry 100
Y'mati
103 Jo 100! ght (0) 221 22.00 1000 à 22ty
C. Light N 19.00 20.20
Electric
Telephone
INDUSTRIALS
3044 31
10.30
5414 19.01
221 22.70
600 10
Cement
3514
STORES, ETC.
Textiles
033
343
Nayeng
MISCELLANEOUS
Allied
CHICAGO GRAIN
MARKET
Chlengo, May 10. Grain futures were irregular, with soybeans advancing to strong lone near the close ON short covering
Wheal
ciny throughout the remained grin, with demand re- flecting
clear weather 9v1 winter wheat belt stales. May wheat deliverles held mostly strong due to MARRIE free wheat stocks at Chicago.
Inast
Although pront-isking
፡1-
tracted milles shortly after mid-
re
Mr G. E. Murdes. turned from Japan earlier this week, presided t the Gas Company meeting yes- terday and then left for London.
Banks Down Again
In 1h gilt-elped
selton,
Banks comnued their decline and at the close yesterday they $1660, down $10 on the ex-dividend,
were
werk
works. Urdions, were leady at $972.
section In the wharf
both Wharves and Docks continued their climb matfected by th market letirarty. Wharves arked $2 to close at $82 Mul Decks were $1 % balter ut $30. Wharves now show a $10 110 on the month,
The land section has been
Hotels
are tendy #l $13.80
HT
Lands fractionally easier al $03. In the Ulity section. the exception of Yaumatis Stars (mention of these shares
quirt,
while
are
with
and
has been made elsewher in this paper), most shates in this group tended Custer after gradual rises over the fast three weeks,
Cable
cariter reports
this week suggested that about HKS4 million had come in from Singapore in the last fortnight anet
remittances to this Culuny werp on the increase,
A trickle?
If this is no, the money Is certainly not reaching the Stock Exchange in any quantity.
And although I have not yet
|
* The Share Market At
UK Bank
HK Dock Provident HK Botein
Glance ⭑
Up or
Apr 12
1685
Apr 10 1080
Apt 20 1075m
May 3 1070
May 10
down
-SID
Ldinbarð
G8b
590
60
00
0034
+++500
Vaton
всь
000
990b
090
07214x4
steady
Underwellera
Bra
9m
Ba
Эл
Bn
steady
Union WBoat
10
190
20:106
20.50n
21b
+50%
Wheelocka
8.30
8.45
8.70
8.80
8.85
steady
IIK Wharf
70
78
Bob
82
+$2
306
13.70
13.80
3714 14
3731
39.
+$114
13.80
13.80
stearty
13.90
13.80
13.80b
13.80
13.80
steady
UK Lands
B114
61
6214
033
68
-500
Humphreys
1740
1754
17,40%
17.40%
17.108
strally
IK Really
1.475
1.425b
1,470
1.50
1.475n
-2140
HK Trans
22.60
22.30
22.00
22.80
22.00
200
131n
1300
132b
138
+34
101
103
103
105
+$2
22.20
22.40
22.00
22.80
22.50
-300
10.40
19.70b
19.90
19.90
sleally
30
29.706
22.90 34
22.001
2014
31
31
steady
22.7500
23
22.60
---446
3344
36
354
35*4a
steady
16,70xd
10.10b
10.20
18.30
10.20
-100
11.20
11.10
11,20
11
11
steady
34n
34n
340
34n
34n
sically
-450
014
0.60
6.75
0.75
stently
5.15n
5.40
6.40
6.458
steady
11.30%
11.30m
11,20
11
10,80m
-200
5.25 7125
3.200 7.69
5.45
85
5.406 7.805
4.35
7360
-50 -30%
Star Ferry Youinatis
Ch Lights (0)
Ch Lights (1) Electric
IK Telephone G.I. Cement Dairy Farm
A.S. Watson
Lane Crawford Yhurtsze
Allied
HK & FE Inv Textile Corp Nanyang
1306
101
10.70
Over Two Billion
Slashed
Off U.S. Shares
New York, May 10.
Stocks suffered one of the sharpest setbacks of the year today-a reversal which slashed more than 2 billion from the value of all listed shares.
The recently strong rails-at their highest levels since Sept. 21, 1029 last night-fell a point 10 4 points for a 3.23 drop in their average-widest since last
Oct. 10,
Industrials slumped 0.00 in their average, widest loss sinet April 10,
Seiling,
according 10 Wall Street comment, was based on the spectre of tight money, a belief the Federal Reserve 19 overdoing its efforts against in- Ontion. In #inc with this, utilities,
herd money Issues.
I been able to verify this I would
say that romitances coming to outperformed
the rest of the
the Colony this year BTC (3 market today, slipping only trickle compared with the quite 10.01. substantial pouring โย
year.
that Were Gumis
last at this me
lan
For one thing a number of Southeast Asian countries have tightened currency restrictions in the last 12 months.
Anti- speculation measures have been taken by the British Bunks in Hongkong and although and trade possibly offer hero- tive fields of investment still, the Stock Exchange la not much of an attraction at present.
In light scale trading Rubber shares continued to lose ground casiness In sympathy with the
In raw material přlces in Singa- port. Yesterday's price closed
at 80 Straits cents a lb.
Here is diary of the market movements this week:
day, futures prices were effected Friday:
to only a small degree,
Soybeans were again on the advance today on short covering and a let-up 婚
Liquidation Monday: which caused yesterday's sharp decline of 10 cenis a bushel for May and July deliveries. Finn edible oll prices was factor.
Wheat closed up to 11⁄2 cents; soybeans up 1% to 3%
cents:
CLOSING PRICES
Prices per bushel in centa
also a
Tuesday:
Many market men, however, viewed this as an excuse rather than a reason for selling, and painted out a corrcellon was in line after recent advances.
Picked Up
Glidden Co.
Inland Steel Ch.
interchemical Cor
Int'l Business Machines In Harvester International Nickel
International Paper Int'l Tel. & Z
Burmah Oil Co.
Profit
London, May 10. Burmah Oil Co. group reporta net profits — after all taxation-of £6,852,558 in 1953 compared with £3,726,809 the previous
year.
Final dividend is 12 per cent, making, 17/4 per cent less tax on the double capital for 1955 compared with 21 per cent on the smaller capital in 1954 — -United Press.
WORLD RUBBER
MARKETS
WORLD
COTTON
MARKETS
New York, May 10. Cotton futures trading today crowded 'all of the action into the last half hour.
Mining Operations
New York, May 10.
Mr Glenn McCarthy, a Texas bil man, has announced that he will supply a large quantity of natural gas to the Anaconda Company's Chilean copper mining operations.
Mr McCarthy plans to build a pipeline of about 500 miles In length" to bring the natural gan
across the Bolivian oft he holds.
The
Andes concession
from
which
cost of the project will be "in excess of $31 million."
The Chile Exploration. Com- pany, an Anaconda subsidiary. Closing around peak levels for is the prime customer for the line. Work on the project will the day the list #nished un- changed to up 20 points. Open-start as soon as the necessary to off Government permits and other ing prices were up 2
arrangements Oriedis clused
be coltled, but it is hoped that the line will be Built within two to three years."
16 points. New lup 3 to 31 points.
леу сгор
on the DI
can
Proviso
A buying spurt in deliveries, led by trade interests and New Orleans brokers, found seliers reserved toward the close while they awaited new
A spokesman
Anaconda for outcome of bids submitted
described the contract with Mr Tuesday for purchases of raw McCarthy as "a purchase соли cotton out of the Government | tract, It as and when hic can surplus stock.
deliver the gas." It will be Earlier, trudluğ moved at an confirmed onco deliveries start, extra-show pace for the sixth day and will cover twenty years In
ΤΟΥ, with prices swith options for up to three sawing narrowly just above the five-year renewals. previous close.
Tho spokesman sold that Evening-up of
Anaconda expects to receive
the
1
-1
in accounts
Piry delivery, before its ex-about 10,000 million cuble, feet on Monday, and of gus annually, once deliveries Reuttered trade buying in July, start and added that if Mr provided the main interest. McCarthy does not deliver
were within about four years" apot Interests
the of around purchase contract would
expire. 10,000 balea in May, supplying
McCarthy's spokesman a scattered trade demand and sald on the other hand that de- short
covering. Buying in July liveries would amount to “be- was attracted by its two-cents tween 21,000 million and $9,000 discount under the spot menti million cuble fect a year.**...
Open May contracts at the China Mall Special. start of unding today totalled 07,500 bales.
The certifiented stock held unchanged at 12,022
bales d
Producer entries under the loan programme for the week ended on May 4 totalled 24,320 bales. Withdrawals amounted to 22.343 bales. The net stock of 1950 crop cotton In Govern-
ment
hands
6,304,408 balcs,
mounted
NEW YORK
to
Prices of futures closed today
New York, May 10. The No. 1 Rss rubber May futures closed today 20 to 25 points higher with sales (of 154 contracts.
local covering operations, with a July
NEW ORLEANS
貞
*
:
German-Canadian
Projects
Hamburg, May, 10. The establishment út more Joint West Geimah- Canadian factories in Canada and an increase in West Germazi exports to Canada were expected to follow Canadian
here,
current visita
traile
by experts
TII. Mr
Stapleford, Ontario State Coniniission- er for Industélál Planning, who has had talks with severál Hamburg firms in the past few days,
Ontario wanted sound en-
terprises from abroad develop the processing
to
of
Canadian raw materials at
home-
The German side should provide the technical staff. for such enterprises.
nald Stapleford
interested
Mr Ontario
also
was similar operation
ה!
Industrial co-
with Britain-China Wall
#ted Special.
P.OB.I
Holland
E&A
COMPANIES
PENINSULAR B ORIENTAL EN, CÓ
PASSENGER/FREIGHT SERVICE
Läktes London
United "CARTHAGE” 2371 May
20th June
Dde Hongkong
28th May 26th June
29th July
18th July
2014 Augus
Via Southampton, Port Sald, Aden, Bombay, Colombo,
Penang & Singapore..
Leaves Hoogkobe Dub Tanden
ist June
29th June
11th July
Colgate-Palmolive Co. Commercial Credit Commonwealth Elee,
3424
Consolidated Edison
4613
Continental Off of Del.
Crane Co.
Crown Zellerbech
Cuban Amer. Sugar
JEAL
Diamond Alkali Dow Chemicala
as follows:
4741
Spol
30.80
Dupont de Nemours
AIA
May
35.00
*
Eastman Kodak
139
Jul
34.06
El Paso National Gas Erte Rond Family Finance Corp. Ford Motor
40%
October
33.35
2311
December March
33.67-76
33.05
32.79-00
General Electric General Foods General Motors
July
32.TD-14
October
31.10
34
Outwards "CANTON"
Gen. Pub, Wal Getty Oil
*
Prices of futures closed today
**ADEN**
Goodrich (Br.) Co.
Goodyear Tire
Heyden Chemiend
329d 1734
Homatake Mining Co Ingersoll-Rand
20 to 30 points higher with no sales.
The standard contract closed
as follows:
CANTON"
pot
25.50
May
39.08
嘁
8732
07
523
31%
0422
131
33
John-Manville Co.
01
Kansas C. Power & Lartit
30%
Kennecoll Copper
120
good part of the trade also pro- Sented in intra-dealer switching
and exchanges operations September contracts for physica}; rubber.
July reflected tone
the October Steadier
December satisfactory London cables and Marcit
May
October
3407-10
32.63
32.74
*
Homewards
"OANTON"
*
"CARTHAGE"
of
LIVERPOOL
***DURAT
*
Liggett Meyer Tob, Co.
41
A
Cotton future closings, in pence per, lb, were as follows: Old contract
"CANTON"
+
Lockheed Aircraft
40
Lone Star Cement Co.
77
Now contract
May/June July/AuR.
24,00 23.30
May/June
30.30
Louteille & Nesivitte R.
100
July/Aug.
27.50
Lowenstein & Sons,
234
Oct/Nor.
25.03
Dec/Jan.
14712
Mar/Apr.
Egyptian Karnaic
429%
May/June
40%
No. 1 Iss
4749
MAY July 19-September
2900 30.00 29.70
243P Detetomber
421 6014
Biandard contract
4335
May
2016 July
01 September
December
22
March
831
May
Penn, Salt Co. Pulp Morrin....
htt with
Procter & Gamble Co. Pittsburgh Plate Glass
401 100%
10
Trading picked up with turn-ors Incorp, over of 2,850,000 shores,
Of a total 1,120 issues traded, only 225 managed gains, while 811 declined,
Membi Iron Corp. Minnesota Miring Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Inc.
The play's most active issue, however, was a higher feature National Cash Rent National Container, up 31% National
National Day Prod $34%. Its preferred rose 4 to $50, Philco also featured on the
National Steel Corp. New York Central upside, holding a gain of moro ulin aathieson Little interest, con-
than a point as the company an- Os Elevators virtually bounced a new altborne teley-Pacific Gan & Elec. ditions
Owen-Jilinols Glass unchanged. T/O:sion system for jei reconnals-Pan American Airways
salice.
$870,000. Quiet tonditions with tow and small In rails, losses ranged to price movements. points in, Union Pacific. T/O: $530,000.
were hard Dull and feature- less. Price changes Bethlehem off more than 3.
Steels
Paramount Pictures Parite Davis Co. 4Penny J. C. Co.
Publieker Industries Pure Olldogs negligible. T/O:
Chrysler fe nearly point Radio Corporation $350,000.
In tho motors and
Republic Steel General Reynnlits Metal Wednesday: Listless market.
Motors and Ford declined froe-Shell O Co.. Business on a to Wonally.
Saint Reg. Paper strleted scale. T/O:
"Ba Sinclair $370,000.
4. Focony Mobilbil
Moderato
In elis, Gur dropped trading. Standard of California, Texas South Puerto Rico Bugar
3 or more. Pure Southern National Gas Market largely Co., Phillips featureless. T/O: O, Royal Dutch, Gorony Mobil, Bouthern Railway Com.)
Standard Braids $655,000.
Jersey Standard 11⁄2 to 2 Standard Oll of Cal. points.
1024
at Singapore to- holiday morrow, and a holiday today in Indonesia, cut down interest generally and invited covering operations.
In the spot market No. I Res were quoted nominally 30% cents a pound, Futures;
SINGAPORE
SÃO PAULO ·
23:45
07,70
No cotton prices-holiday.
In the US the average price 2050 of 15/10 middling cotton at 14 designated spot markets 35.54 cents Sales, totalled 9,730 bales. United Press.
After a silghtly higher open-
ing the market cased on Iack
48% of trude support. There was
43
some
short covering around
454 noon time whereafter again the
-7011⁄2
cased on
Hiquidation ads market 52 and closed half a cent above 001 the lowest level of the day,
Futurce: 3014 No. 1 rubber per lb. May 15%-OUTL Juno -85% July unquoted No. 2 rubber par 15. May 8311-04
Z7V
12314
d.
Standard Out of luk Standard Oit of N♫.
421
100
#1
No. 3
-8834 No. 4
Spot rubber unboled
Stokely-Van Comp., Studebaker Packard Corp. Swift & Co.
101% | Blanices grépe
D NO. pole crepe
Texas Co...
130
447L
New York Stock Exchango Sterling Drut Co.
New York Sugar bond volume was $4,700,000.
Market
New York, May 10, World No. 4 sugar futures closed today unchanged to 2 points lower with sales of 161 contiucte.
Wheat, No. 2, red
Spot
220
May
247(18) 20
July
Sept
Nov.
21 20025-14 207f 210
Thursday?
Jaa.
211
Corn, No. 2, yellow
Spot
Miny
{107%-140
July
Sept
Nov.
140
Jan.
14391
May
July
Gats
May THI
00 0333-1
Soybeans, No. 2, yellow
Spot
May
312-3113
July
27194
Nov.
2001-250
Jail,
23012-34
Barley
Ярос
130-140
New York flour a
200 lb. sack
$13.600 -United Press.
July September October March May July
Sept.
גול
Exchange Rates
Domestic No. 0 nugar futureh unchanged to 3 points
Američan Stock Exchange volume was 1,140,000 shares.
Closing Prices
Alden ine. Acy
Adied Chemicals
Tide Water Assn.. 011
Twenty Century Fox Film Union Carbide
United Aircraft
Union Pacific Failway
TS. Gypsum
$ 20
UR. Line Co.
a
11912
UR. Rubber
35%
UB. Smelting
15. Steel
231
Wamer Bros.
Radio
Westinghouse Ziootile.
BIG
Allied Mišim, Kite. ekin Alis Chalmers Tower American Altiine xu.
Cable American Corp.
American Metal
with salts of 32 contracts.
World futures cased on pelling American Cyanamide Co. credited to Cuban accounts ind Am. Mach. & 3 dry. commission houses. Domestic American menting futures held steady on a routine American Tedd trado,
Futures:
Contract No. 4 (World)
Ilusiness was done in the beal Acblember,
unofficial enetiano
métkét
Jon Spot (esilia per in, fob Cuba)
morning at the following ratest-
UB. dollar (per $12 Starling notes (per £1).
·Australian' dates,iper, £13
Indonering Tubiah ....: (per.. 100)
Hiam tloni (per 100) Singabots. (Sunita?)
American Tob. "3" Anaconda Copper, - Astaco" Broki Annour
BaldwinLema÷Flam,
3.39 || Daltimore, a: Ohio)
Bendix Aviation"
320) Menques Cónk:,;
327
Dethlon Storf
Boeing. Airtilazio
S Borden (To): 0,
950 Burrough Add Misbhine
Went Va. Pulp & Paper. Woolworth
LONDON
13-134
8111-62
85-85
102-104
011-12
The market was quiet with 1234 spot quoted at 23% petice per
jb. Prices:
看
• No, 1 Ras 'spat, .li
Settlement house term:
Fune
狀 201
Juty/Rept
Oci./Dec.
Jan./Mar.
2541-20
General. ikėti, elf tasks, ports:
MAY
«United Pres.
July-
Estale crepe
thin
May
Junio
closed Press.
Amatérka, ribber
today
New York Foreign
Exchange
New York, May 10.
Ganda Argentina
$1.004
** Contract No 6
Chenadian Pacific Tt.
15.69 September 12AT | NoventÜbe 19.30
Dze Cat. Tractor.
5,50) Chlanges Corp,
trane
pet
0. 1, T.-Manches, Zár
20.30] .'wx-duty }
30-day 00-days
Jalted, ProsK
Chrysler Motors.
2514-259%
30 buyets
ungitoted
market, was holiday. United
Industrials Recover
In London
Win
London, May 10. Led by oils and indus- trials, stocks recovered froth some morning un- easiness and closed steady on the London Exchange today.
Industriala openca ensy, thien turned firm 17though not all recovered their morning Rolls-Royce, Great Univeral Störts, and British Aluminum Enjoyed good sup- nd finished higher on the Dart
Jo
ils were strong, throughout. bolstered by a good earnings. and dividend report from Burmah Cil, Its stock added about a
cn- shilllog, and couraged eomo of, the others to Shell gained larger gains. nearly
shillings Ave
and Belush Petroleum i s
isbout two. British Government stocks carler with one or two
In foreich bonds, Germans
London Foreign managed a fow fractional gains.
Exchange
thers:
Untina PruM
Sohing Hit Greck dates' in, the from Wake of diktarbida ditiva Cyprus.
■
London, May 10, Cloud and abo-19/10 Copper allied with, Thokana
modnar the advance.
Si
"Dollary blocks werd tréguistik higher in quiet trading-United Prom
24th August
Via Slugapore, Penang, Colombo,
Port Said & Lähim.
2nd July
3fat July
13th August
24th September
Bombay,. Aden,
* Also calls Hamburg, Rotterdam & Antwerp.
:
"SOUDAN"
"SOMALI”..
FREIGHT SERVICE fonds 17th May
for 'Singapore."P, Swet- tonham, Penang, Aden, P. Bald, Genoa, Mer Bollos, London, Ham- burg. Rotterdam Antwerp
due 24th May from UK "BINGAPORE'due 20th May from UK.
A
"SINGAPORE'ioads sih June for Singapore. P. Bwet
tenham, Penang. Aden. P. Sald, London, Ham- burg, Rotterdam Antwerp
With liberty to call at Helawan before or after Straits Ports and at Bombay if inducement offers Tanks available for cartlage of oli in bulk. Space for refrigerated cargo. Limited Passenger Accommodatian.
BRITISH INDIA S.N. CO., LTD.
J
1830 A HUNDRED TEARS OF SERVICE —-> $760
from Calcutta "SANDOLA” due 11th May alla 18th May
for Japan duo 18th May from JATEN smile 20th May
"ORMARA"
"WARORA" dus 13th Jung
for Singapore, Penang. Hangoon. Calcutta de
Chittagong from Japans sails 15 June for singapore Patang.
Rangoon, Cesoutla chittsgoog
P. & O./B. 1, JOINT SERVICE doo 1th May from Jandi L
"URLANA”
"İTOLA".
* "ITAURA”
Balls 13th May
due ih May mails 2011 bay due at May zaile 2nd June
for Spare, BOMBAY Kardolu, Basráit, Khor« ramahadir de Kuwait from Bombay
тот Укра
from Japan
for Bimespore, Madras, Colombo,
BOMBAY, & Karachi
EASTERN & AUSTRALIAN SIS. CO., LTD.A.
· "EASTERN” ́ ́ 104da 12th May" for Bandalcat Riebalai, Brisbane, Sydney, kial- wbourne: Gosieng, J
Adelaide
“AKAFURA" dne 19th May, from Australia
Aŭ yomels have liberty to call me any ports on pr of the Touté d' thà roulé à Mutig dit subjven. te change or amandmans with or withosi metien,
For full particulers apple tes MACKINNON MACKENZIE & CO OF HONG KONG LID. Telphons No.... 777211.
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