TRADE
THE CHINA MAIL, FRIDAY, MAY 18, 1956..
and
COMMERCE
SECTION
WORLD
SHARES GO DOWN AGAIN RUBBER
DEMAND DROOPS IN DULL MARKET
By A Special Correspondent
The share market løst further ground this weck. An air of apathy hung over Ice House Street and the market recorded one of the lowest turnovers for years.
Brokers say the undertone remains steady, however, despite the easier trend. It is true there is no selling pressure and the reason for the recession in the last two weeks is that supply is slightly in excess of demand,
HK Dock
Provident IK Hote IIK Lands
Humphrys
HK Realty
1IC TRANS Star Ferry Yantitative
00
un
MARKET
New York; May 17. The No. 1 Has rubber futures closed today 48 ta 68 points löwer With salos of 293 contracts,
The standard contract closed 40 to 65 points Tower With no sales reported.
The market turned henvy With London after a sleddy opening dropping back under detter hedging and liquidation Impending the anticipating
foreign Whitsun holidays in markets.
a
Dealera Interchanged Sept- Dec. contracts. ALSO, moderate
of hount
July contracts were exchanged for sipot four sheets at a 14 cent discount.
★ The Share Market At A Glance ★
Up or
JK Bank
Apr 19 1680
Apr 20 1678
May 3
May 10
May
1670
1600
1000
steady
Lombard
GO
00%を
6014#
steady
Bnlen
990
0000
$100
07874
steady
Underwriters
9rt
1
Dn
steady
Union W'boat
19b
20.10b
20.50u
21b
21n
steady
Wheelpeka
8.45
8.70
R.85
8.85
8.70
150
FEFR WHAT!
70
78
ась
BZ
81
3814
$754
アイ
39
39m
Ateady
13.80
14
13.80
.13.80
13.70
-100
13.80
13.800
13.80
13.80
- 13.70
-100
0234
0315
03
-500
1749
1740
17:401
17.403
17.40s
steady
1.425b
1.475
1.50
1.4761
1.425
50
22.50
22.00
22.80
22.60
22.00
steads
1311
130b
1326
136
137n
+-$1
101
103
103
106
100
+$1
22.40
22.60
22.80
22.50
22.70
+20€
19.70b
19.70
19.00
19.00
19.00
strady
29.100
30
31
31
· 30
-250
22.001,
22.75m
20
22.00
22.50
-100
33
30
3514
361j*
34.75mm
-500
16.10b t1.to
10.20
10,30
16.20
10.10
-106
11.20
il
11
10.80
-200
Lane Crawford
341
340
341
340
34n
stendy
014
6.66
6.75
6.75
0.80%
+50
3.150
5.40
6.45
5.45%
5.40n
-50
RK & FE thy
11.30%
11.209
11
10.80m
10.90
+100
of the high premium over buyers ideas here,
No. Ras were
quoted
in
Textile Corp Nanjang
6.25b 7.80
5,45
5,40b
5.36
5.30
Ke
7,80%
*b
7.65m
50 +156
30% cents.
Futures:
No. 1 Res
May
19.30
July
19.75
Sepl.
Dec.
78.40
Standard contract
May
29.60
July
20.70
Sept.
25.04
Dec.
28.40
Mar May
27.
17.20
^ slight hardening trend $12.00 sellers in the afternoon appeatedl In lilin yesterday, with buyers 20 cents below.
have fallen prices after noon, Sat 11 E not possible to draw any conclusion from it.
Singapore possibly that with the, the result of the wage dispute My own guess Whitsun week-rout coming up in the Malayan industry - and
the market will remain dor mont for at least the next twa trading days and possibly the next week.
Brokers are talking hopefully about the possibility of an up- awing fute neet month of July. when the Interims should be emier in.
hy
REMITTANCES
notler pn stinnte is made
Chinese
bankers and bustnessmen that cosmittances to the Colony from Southeast Asia are about $30 million a month
one
The estimate is only a rough
and therefore and very re liable but as it represents the belled of the Chinese Commer rial community, it is interesting.
Much of the
money smuggled in-because currency
restrictions in the Philippines and Indonesia forbid, with tow exceptions, the
capital abroad.
remlitance
Rubber ngait
hares on the Hongkong market have been quiel but caster sympathy.
NANYANG'S MEETING
The Nanyang font and tho sanoutuament of their annitial meeting should be known soon. beld WIN fast year's meeting. around this tine. "They appear to be a Hitle late this year.
Nanyangs were one of the few shares marked up this week.
Here is a market dary of the semak
Friday:
Monday:
Quiet market. Yau- matis, Stars, active. T/O: $380,000.
Fale. Few pel movements
and
negligible changes.
Ch Lights (0) Ch Lights (n) Electric
1 Teisphone
G.. Cenient
Dalty Farm
A. Watson
Valgtsze Allied
Industrials
Make
Comeback
On Wall Street
New York, May 17.
Auto shares, steels, oils and rails "ro: sparked a substantial recovery on the stock
market today-the first gain in sessions for industrials.
T/O: $900,000
Tuesday:
the doldrums. T/O: $500,000.
of
Wednesday: Du 11
$175,000.
at a low Thursday: Bustness
chb. No Interest
T/O: $319,000.
Personally I feel the figure is
nn overestimate.
tcr,
At any rate, however much it amounts very little
any is going into the share maket today.
I have discussed this position before.
Chinese investors
(who are, of
course,
majority) are no! very
terested in a
her
tha
in
slowly falling
market: nor, for that matter, a
alowly rising market.
POPULAR TREND
Generally speaking they will
So that follow a plunge. there is concerted demand by
a few operators who feel
ת
TODAY'S SHARE PRICES
(From Our Correspondent)
Busmess done on the Hong- that kong Stock Exchange this to appro- prices have gone low enough, it morning will
Nón Grat tend to encourage demand ximately $102,000.
hesitant in- [tions and the morning'a transur- otherwise amond vestors.
tions
amounted
JK Bank complexities of the stock market is less likely to act on Intuition (and tainly not impulse
is concerned')
I don't mean to suggen
people are peculiar In Chinese this
Anyone respect. familiar with the
that
SHARES BUYERS SELLERS SALES
BANKS
Fast Asia,
1635 230
20 4 1000
cer
INSURANCES
when 1125 than
Unkn Lombard
5+22
B01
nocKS, ETC
K. Wharf Ick
30 30 Provident on 13.60 13 90 Wirelock
31
UK Hote 11K
13.70 13.80
to seek comfort in following the
own money
popular trend.
The popular moment
trend at
away
the is to shy
from the market, to wait for yields to cige higher; there has also been activity in new issues which
on a dull market short of capitei tends to detract from interest In other Issues,
But this is nll,, very
which migh
talk
general SURREAL
to the render that have little
to tell him this week. He needs no deep perception to come to this conclusion.
TURNOVER FALLS
the
ndi-
LAND. ETC.
Stat Le
Mattre Realty
ARTENER
A Rabber.
Trust
UTILITIES
€ 29
608 1090 % 13.20
031 0345 200 03 Dec. 63. 13,000 «r lite.
1240
12% 14%
1.20 1.30
1.70
22.00 22.76 Vinati Ferry 103 107
Tran
C. Light (0) 22:00 22.90 100 22.00, 600 229.70
Electric
Light (N) 9.00 20 ..... 20% 30% Bonus 2015 110.00 10,00 10 19.00 Macao Elce. Teleplione 2240 22.00 600 or 223
11 ab 12 600 or 11.00 INDUSTRIALS
Hope
S
да
strong
'continued light
the market | Colgate-Paimolive Co. Tookeel, with industrials up 3.94 Commercial Credit
Comarawealth Elec. on average, rails up 101 and Consolidated Edison utilities up 0.13, the rise was Continental Ol of Def.
Crime C...... tempered by volume.
Cuburi Amer. Sugar Diamond Alkali Dow Chemicala Dupont de Nemours Eastman Kodak
Only 1,970,000 shares changed hands, compared with 2,080,000 share yesterday and lightest since February 10.
Market comment altributed the move to normal technical factors with added impetus
the day given late in
after Humphrey Treasury Secretary told the Senate Finance Com- mittee he opposed lat month's Federal Reserve Board boost in the rediscount rate. This led to hopes of a easier money,
move
toward
Motors Feature
Motor section was the big feature, Sold heavily in recent casions, they recovered stound Chrysler. coch in puint General Motors and Ford,
Stoel gains ronged to almost
4
2 points in Cruxible.
For olts the gains ranged past
2 points In Standard of California arxi Shell,
Boeing, North American Avin- tion and Glenm
around a point.
Crown Zellerbach
El Park National Ga
Eto naЛrood
nine
WORLD
COTTON
MARKETS
Shipment offerings were re- ported moderate to heavy, but mide few tendera were being because
at
SINGAPORE Trade buying was indifferent today but the market steadied after opening on some covering
· New York, Muy 17.
induced by Penang harbour Cotton prices lodný back-00
'workers' possible striker. Factory after tracked sharply
interest Why Arnull, Future mixed start with the old closings were;
crop July delivery lending No. 1 rubber per Ib. Jung 83-951 the way.
Losses ranged up to around $2 bale on the spot month, reflecting persistent liquidation on technical reasons, plus Invourable
crop weather and and continued quict demand for textiles.
Day traders covering at the
0335
471
41
DOWS,
4019
122
3714
close whittled
IOTA
60%
ret 13 to 3
the
extreme
kosecs, but the list still Anished points lower.
216 Opening prices were unchanged
5146
Family, Finance Corp. Ford Motor
23
General Electric
General Foods
Generai Motoma
Gen. Pub. Util. Odden Ca Goodrich 13. Fi Co. Goodyear Tire Heyden Chemical Hornetake Mining Co. Ingersoll-funn Inland Steel Co. tnterchemical. Comp. Inty Buinewi Machines Int' farvester
7 points. ta of 7
New Orleans closed off 15 to 28 points.
Technicians in July recalled the spot month, within the past few weeks, had a persistently grekiun rise of $9 a bale from established on April the lows
con-
New
brokers were leading
424
355
STEA
100%
1716
151
Gollers.
674
10.
Interest nections. Oricans
Best domand CGME through spot
with southern Chicago, and
430
35%
94
International Paper
133
John-Manville Co.
Katinas C. Power & Ligh Kenneroft Copper Liggett Meyers Tab. Co Lockheed Aircraft
38
128%
International Nieke)
Int'l Tel & Tel
Loews Incorp, ... Lone Star Cement Co. Lowenstein & Sons, Merah Iron Corp.
National Cash Reg, "A" National Dairy Prod. National Lead
National Steel Corp. New York Central
On Mathieson
336
Arms, California brokers and commlesion houses.
Posibilities fot
Goverment
higher
loan rate on the
gron were
new co
considered by
sonic early biryers. The Govern
ment overnight announced de-
$72% tolls on the interim loon for 40 the 1950
July 85-8314 Aug, unquoted
No. 2 rubber per lb, June 1975-84 No. 0
LONDON
Ceylon Rubber Price Down
Colombo, May 17.
The price of shert rab- ber was vut Len penis 4 pound today from 150 cerita to 140 cerils,
The
Government had been paying 150 cents Kinor October Last yout and the price revision was Gongura to adjust přivés In line with the world market.
The new price: Rss No. 1. 140 Gèrits; w No. 2. 137 cents; Rss No. 3, 134 cente Ro, No. 4, 110 cents; itss, No. 5. 105 comis, - United Press
Page
Selected Stocks Move Higher In London
London, May 17. Selected issues moved higher in an otherwise drab sessiort of the London Ex- chango today. Trading was light.
the
A good corporate report from J. & V. Coats sparked dome
in- demand In dustrials. Courtaulds and
Electric found Associated
stores chain whead. Stoof und
favour, Jumpor
and
NEW TWA engineering isturea firmed,
DIRECTORS
Kansas City, May 17. Three new members were elected to the TWA board of annual stock- directors at the holders' meeting here last Thurs- day. They were George H. Clay, v100-president and secretary of vice- TWA
Dániel J. Marlin,
the president, engineering, of Hughes Tool Co., Houston, and C. H. Price, vice-président, treasurer, of the Haghes Tool Co., also of Houston,
At the board Enacting im- mediately following the stock- Ice Warren holders' meeting PICTION, board chatman as well as other offflcers and direc- tora of TWA, were re-elected. John A. Clings, executive vice- president, will continue to servé as chief executive ofleer pend- ing the elections to succeed Damon.
| No. 4
83-8334 01-43
spot rubber unbated..
Blanket crepe
855-85-1 75-77
| *
No. I pale crepe
100-102
The market was easier today with spot quoted at 29% pence por 1. Prices.
No. 1 Ras spot
25-291*
Settlement house terra:
June
July/Sept.
2131-25
Oct-Dey,
Jan./Mar.
ADT June
General markets, elf bents, por:
MOT
Jude
July
Estate Prepo
thin May
thick
30 sellers unquoted United Press.
WHITSUN
MARKET HOLIDAYS
London, May 17... The London Metal Exchange will close
moraing after the session on Friday, May 18.
On Saturday, less than 32.25 cents
May 10 all be United Kingdom
tom markets, ex- The final loan rate will announced about Aug. 1 the cept exchange and money far- basis of parity at that time,kets, will be closed.
cal- Since the interim rate wa alculated, the parity base has ad- 30 vanzzel 25 points, experts pointed
ors
The cortifiented stuck increased 00 bales to 12,984 baits,
20.400
on
On Whit Monday, May 21 all United
and Con- Kingdom tinental markets will be closed. together with the Montreal and Toronto stock exchanges.
In Singapore, the rubber market
will
be closed Saturday and Monday, although the two days are not officially declared as public holidays.
The tin and other commodity markets will be closed on May. 21 but bonics and the share. maricet will remain open 14
*
*
24
crop. The rate 77, middling one-inch
for
will
not
*
a
pound.
be
BUT
Minnesota Mining Minton Development Monsanto Chemical Co.
143
37EL
4022
Montgomery Ward
Motorola Inc.
Baz
4914
93
out
TZ
412
Sa
Martin rose
Otis Elevatora
43
Menth
Volume Open interesi
Owen-Illinois Ginan
7419
May
4.400
Facific, Gas & Elec.
5015
July
21,700
243.500
Pan American Airways
1832
Oct.
20100
301,400
Paramount Pictures
Der.
437,100
Parke Davis Co.
Mar.
14.000
201400
Penny J, C. co.
BALS
May
8.500
132,300
Penn. Sait Cà.
5.3
July
11,400
100,100
45
Oci.
200
10.000
104% Total"
100/000 1,430,000 bates
9718
NEW YORK
401
Winnipeg graần
as fulfowa:
Whit Monday.
Spot
04:300 34.-24
All American markets, how- ever, will be open as usual.-- China Mall Special..
*
*
South Puerto Rico Sugar Southern National Gas
DN
Mar
May
Southern Railway (Com) Standard Brands
July
Oot,
and In metals, Aluminium Arzaconda ackled around a point.
Underwood find one of the drop of sharpest declines, a
points on a divídond reduction. General Motors ngnin topped the list of volume.
were
Of the 20 Issues In Joining pong, 13 are lower on the week, 10 ore steatly and on six are higher.
Comehr 2415 35 750 34.7Of a total 1,134 issues appear-
12.10 13.90 100 1234 The fotfil turnover Just STORES, Ere
ing on the tape, 697 managed to top the $2 million Dairy
19.10 16.20 500 10.10 higher, 319 lower, mark.
Last week it was $2.77
100.00 10.80 200 10.00 million.
113 G DIS New York Stock Exchange
bond volume was $4,000,000.
Ámetionin Stock Exchange
The daily turnovers show that buying Interest declined during the we
week.
and Star
Even Taumails Ferrits lost favour after they rose to their highest levels for weaks following speculation on recommendations on the Hongkong harbour tunnel re- port.
I sald last week Ice. Hound Street men thought there was more than a guess behind the hetivity but trading this week hrs boon only moderately. heavy..
This week both Yaumnatis arid
Watson Emporium COTTONS
FATL
Textile Corp 5.25 5.39 Nanyang 7.50 7.70 MISCELLANEOUS
5.43
Allied IL.K. & F.E.
Invest.
1300 e 11
Singapore
Stock Market
Singapore, May 18. Brokers today quoted the fol-
Stars cloged higher on the week lowing stock prices:
but also below the work's highs
Of the two, Yaumati was the
most netive and almost shares changed hands, highest: $108. They closed $106.
BANKS STEADY
Opening alu, Läntang Rubber co. Ltd.
www.......... $1.43 dr h
Boracó Petroleum 1,000
Byndiente
40/- Their Consolidated
Tib Bmellers Ord.
20/ Fraser à Neave, Lad. Ord... $1.57 Fraser & Neave 76 cuin.
$9.70
at
Hongkong Blanguaj Bank-
ing Corp.. Hongkong Tin Lid. Banks and Unions are steady, Kempan Ltd. Uulites have been generally Lunan tubber, Estates Lid quiet niki prido movemente Mayon Breweries nestigible.” Tráths and Chínn
Ney, Berandah · Itubber,
Lighis were slightly BIKONIENS | PIRing Tin Lid. yesterdayory slightly while Itamen ficiel
Bumpers Cold sto
Telefonts were frictionally south cities Proscreen
weaker.
In the industrini, soulions,
Krempathy wits the real of the
market: but Roper after 'welling
at siä in the morning closed: at Mail "How
| volume was 870,000 shares.
Dow-Jones closing averages
werc:
30 Industrials ...
20 Talle....
15 utulies
nd stocks
40 bands
Comm, future price index Com, spot piles index Moody's inde
Closing Prices
Allied Chemtenis,
Atled Mille Ine.
Allts ChadnÔNE
American Arrijne.
American, Cable & Radio Corp.
Amertent Cyángmide Co
Am. Mach. 1 17. Ara
American Metal
Americs Breyting
American Ter & Tof
$480
American Tob.. "13"
Anaconda Copper
$1.65 9.10 .83.20*
01,80
Bandi Ayşation:
Heron Cop
9.30
Philip Morria
Procter & Gamble Co. Pittsburgh Plate Glass Publicker Industries Pure Ol...... Radio Corporation Republic Steel Reynolda Metal Shell Oil Co, Saint Reg Faper Sinclair Oil
Bacony Mobilo!I
Standard Oil at Col. Standard Of of Ind. Standard On of, NJ. Sterling Drug Co. Stokely-Van "Camp. Stukicbaker-Packard Corp. 490. Git Be Do....... 175.87 Texas 09. .....
06.02 Tko Waley Ask Ou 178.80 Twenty Century Fox Film
90.00 Union Carbide
183.31 Union Facile Railway
102.75
United Atveraft
€7.10
US: Gypsum
US. Line Co.
US. Hubble
US. Amelting
ÜB., Steel
Warner BrDR.
Westinghoum Electric
West V. Pulp & Paper Woolworth
-United ProsN.
usual.
The
*
ex-
Prices of futures closed today change will also be closed on
NEW ORLEANS
Prices of futures closed today
as follows:.
Spat
May
LIVERPOOL
New York Sugar Market
New York, May 17.
*
the
of a president late Ralph 9.
at
Olfa rullled after an un- |evrtain opening, were mixed
Brish Petroleum the close. gained about four shillings.
Foreign boht showed seat- tored fractional losses among the dermans, while Japanese were unchanged in quiot deal- Ings.
Brifisla GovernmeTAS. stocks Then support openext strong. dwindled and the group misted with net gains rimning around
£%.
Copper shares managed a few small gains. Dollar' stocks were mixed.Untied Press.
Exchange Rates
fusing way done in the focal vromelai exchange
market brring at the following rates U.S.__dollar (per $13 Sterlag notes (per £1)
thin
10.74
Australian Hates (pur £1
12.42
Indonesian rupiah (per 100)
10,70
Sa ical (per 100)
20.30
Singapore (Strolia)
142
P.O BIELA
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PÅSSENGER/FREIGHT SERVICE
Outwards
"CANTON"
"ÜARTILAGE"
"ADEN"
"CANTON"
Leave Londes
Balted 23rd Mig
20th June
16th July
Das Hongkong
28 May 25th Juka
20th July
20th August
Vid kontitamistól, Port Bald, Aden, Bombay, Colombo, Paturig & Singapore.
Homewarda
"CANTON"
Leaves Hongkong Due Londom
1st Juné
"CARTHAGE” 20th June
**SURAT",
"CANTON"
11th July
24th August
2nd July
31st July
13th August
24th September
Via stogapore, Penang, Colombo, Bombay,
Port Said London,
* Alsó anữu Kararg, Rotterdam & Antwerp. FREIGHT SERVICE
"SOUDAN"
load 19th May
Adam
for Bingapore, P. Bwet- tenham, Penang, Aden. P. Baid, Genos, Mar
Hami- allies, London, burg. flotterdam
Antwerp
&
"SOSIALI due 25th May from U.K. "BİNGAPORE'dod 20th May from UK. "SINGAPORE'onds 10th June for Singapore, P. Ewel-
↓
tenham, Penang, Aden, P. Said, Londen, Ham- Rotterdam & burg, Antwerp
With Barty' to exli 'as Belawan before or aftar Straits Ports and at Bombay if inducement offers. Tanks available for čarriage of oil in buik. Space for refrigerated cargo. Liśnited Passenger Accommodation.
►
BRITISH INDIA S.N. CO., LTD. 3830 À HUNDRED YEARS OF SERVICE - 1950 "ORMAKA" das 21st May from Japan
falls 22nd May for Sagapore Penang.
Ilangoon, Calouste Chillagong "SANGOLA" de 2nd June from Japan
safid 3rd June for Singapore, Penang,
itangoon & Calguita "WAKOBA" de ih Jung from Japan
SAKIS 13 June for Bingapore, Penang, Rangood,
Calcutta & Chittagong
P. &.0./B. I. JOINT SERVICE
"ITAUBA”
30.40
34.10-20
3.78
World No, 4 sugar futures closed today unchanged to point higher with sales of 187 contracta,
1
"PIOLA?
32.90
22.80
“OZÁÁDÁ”
*2,03
point
The domestic No. 1 sugar futures closed unchanged to 1
lower with sales of 45 comer, tracts;
Both markets
Future closires, in pence per quiet dealings.
ib, were as follows:
Out ofhirket Majifuna
July/Au How contenich May/June July/Aug.
Dec/Jin,
London Foreign Typo Hack Mas
Exchange
SÃO PAULO:
culod city
Ltv
In the world raws, awaited reports on the liquidi 245 ton and the demand for re
They expected Germany 30.00 20 buying of rawa appeared to have 20.40 boen postponed until lato May 256 or early June, informed sources
wild. Futurca:
5.35
Future stooligt. In "érléstrON per kilo wären ál kollow.
Øysteseë No. 4 (World)
Juny
September
Oktober
juncta
(cents per 11. Iob Cuba
dne 21st May from Japan salla and June for Singapore,
Colombo,
doe 6th June from Bombay But in June. For Japan
Madras, "BOMBAY,
dag 10th June for Singapore, 'BON « salls 18th June BAX, Karachi, Basrats, Khorramabah. Kuwait
· da Mona-al-Ahmedi ̧.
EASTIAN & AUSTRALIAN S.S. CO., LTD. HNELLORE · th June from Australia HAKAFURA” fonds din June for Sandakan Rabat, Telbana: Byúsay Mal- bouene di Masinida. "kit"vanndit BarW Überty, to'call`at' any ports, on
• eroll thê fiele & the route à selling are subject to change dildodusent, with or without notion.
das fod portieulary apply to : MACK NON, MACKENZIE & CO.
OF HONG KONG LID. Telephone No: 27721 4.
*
No comments yet.
Private notes are available after approval.