1956-05-25 — Page 9

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TRADE

THE CHINA MAIL, FRIDAY, MAY 25, 1956.

and

COMMERCE

SECTION

WORLD

LOMBARD HIT BY $1 DIVIDEND CUT COTTON

Share Falls More Than $12 In Week

DOCKS AT NEW HIGH

By A Special Correspondent

One share took a sharp nose dive on the Hongkong Stock Exchange this week and another tacked on $2% to show a $10 gain in the last two months.

The share

crashed

that was Lombard

Insurance. The company announced a $2 dividend

★ The Share Market At

BIK Bank Lombard

Unlon

IK Wharf

IIK Dock

Provident HK Hotels IIK Lands Humphreys

IIK fleally HK Trans Star Ferry

A Glance ⭑

MAY 24 1855

489

Up or

down -53

Apr 20 1675m

May 3 1070

May 10

1060

9906

990

*** 97214xd

May 17 1660

6044 07214

00736

---$5

-$1814

Underwritera

담

Union W'boat

20.10b

20.500

21b

2in

21b

steady steady

Wheelocks

8.70

8.85

8.70

870

steady

всь

BZ..

80b

--31

3714

373

39m

4114b

+$214

13.80

13.70

13.00

--10c

13.80b

13.80

13.70

13.60

100

6244

634

6714b

024

steady

17,408

17.CON

17.40m

17.408

17.30s

-100

1.475

1.50

1.475m

1.425

1425

steady

22.60

22.80

22.00

22.60

28.70

+190

139b

132b

130

132

136m

Yaumatis

103

105

106

107

+$1

Here is a market diary of the wock!

Friday:

Ch Lights (0)

22.00

24.80

22.69

22.70

22.50

200

Ch Lights (n)

19.70

Electric

3034

19.90. -31

19.80

304

-250

Business On stricted scale. T/0:

Tum

HR Telephone

22.75m

22.60

22.40

--100

G.1. Cement

354

355千

34.75m

34.95

steady

$-100,000.

Hairy Farm

16.20.

10.30

16.20

18.10

15.90

-200

Monday:

Whitsun holiday.

A.N. Watson

11.20

10.80

stendy

Prices virtually

Lane Crawford

34n

3da

34D

34n

34m

steady

changed:

7/01

Yangiszo

6.00

6.75

0.750

6.80s

036

---300

SHO0,000.

Allied

5.40

5.45

3.465

5.40n

6.20b

-200

Wednesday: Listless

T/O

HK & FE Inv

11.20

10.80m

10.90

11.10%

steady

$380,000.

Thursday:

Prices tend to drift fractionally lower.

Textile Corp Naiyans

5.45

5.40b

5.35

5.30

steady

7.80%

714b

7.65m

steady

T/O: $700,000.

Jast Friday. In 1953 and Tuesday: 1964 they paid $3.

was

The $1 cut shock to the market and the share dropped from $60% sellers last Thurs-| day to $48 sellers yes- terday.

Docks Go Up

The share that rose was Hongkong Docks. At $414

it is at its highest price for many years certainly

168

far back as my records show (1951).

than $1

Reason for the rise? Ar 1, pointed out last month.

showed the company profit of million last year-highest. since 1952-out of which it paid a $3.50 dividend bonus.

and

19.90

14.02

Malaya 'Go Slow' Sends Hongkong

TODAY'S SHARE PRICES

(From Our Correspondent)

Rubber Shares Down

THE

By A Special Correspondent

Wall Street Stocks

MARKETS

New York, May 24. Cotton prices today see- sawed over a wide range in moderately activo

Slashed 212 Billion dealings

New York, May 24.

Stocks valuations were down another 21 billion today, bringing to a total of some 12 billion slash in the market values since the industrial average achieved an all time high on April 6.

Turnover today totalled | John-Manville Co. 2,600,000 shares, compared with 2,140,000 shares yesterday.

Steel shares were especially hard hit with losses ranging past 2 points in Bethlehem, Young- stown Sheet and Tube, National Stool. Sicel men attending the American Iron and Steel Insti- have tute meeting this week predicted a third quarter dlp for Tihe industry.

Raits also wore slashed, with declines ronging over 4 points in

Louisville Union Pacific, Nashville, Southern Railway. Olls had losses of 2 to points In such leaders Callfomia Standard, Shell, Texas Co.

Metals lost 2 to nearly

Kennecott Copper Lockheed Aircraft

Looww incorp. Lone Star Cement Co. Montgomery Ward National Cash leg. "A" National Lend

New York Centrai Olin Mathlosan

Que Elovators

Pacific Gas & Elet,

I'm American Airways

Paramount Pictures

Pop. Saft Cu,

Purke Davis Co,

Publicker Industries

Pure On

Radio Corporation

Ip the final minutes, deferred with the weakened months

renowed

Brd

stock market liquidation, agging to the day's

lowest levels,

higher to

Final range Was lower. 14 points The market opened off 1 to 18 New Orleans closed up

points.

4 to down 4 points,

Volume and open Interest today

70.200 1,457,000 beleg

NEW YORK

Prices of cotton futures closed today as follows:

Spot

34.20

32.40-42

1201

were:

2012

4375 Month

Volume

Onen interest

July

10.80)

220,700

7334 Oct.

15,300

301,700

401 Dec.

18,200,

443,700

Mar.

B00

210,000

May

0,300

137,600

392%

53%

July

5,000

10,500

Oct.

2,500

100,800

5114

Total

3014

0312

4351

Liepublie Steel

43%

July

Sinclair Oil

dakt

Sucony Mobiloil

721

Dec.

Southern Itallway (Com)

1001

Mar.

Standard Brands

411

Mary

Standard Oil of Cal

July

Standard Dil of Ind

NOL.

Standard Oil of NJ.

อน

Swift & Co

4496

lost

Texas Co.

1229:

110%

170

601 Old cuntract May/June 20%

July/Aug.

Od/Nov

Deo/Jan.

Mar/Apr.

United Prem.

points in Aluminium and Alcon, Studebaker-Packard Corp. Kennecott, and Anaconda,

Ima chemicals,

Allied

Union Carbide than 3. Du Pont inore Valon Pacifle Railway

United Aircrafi than 2.

U.S. Gypsum Earlier, traders were noticeably US. Line Co. hesitant after yesterday's upset US. Rubber

of the heels what had U.S. Smelting appeared to

be a substantial US Steel

Warner Bros. Westinghouse Elvetile recovery movement.

Woolworth The break locked like a sell- today. However, ing climax

in the there was a late rally

tlckers day, putting reporting

continued "go slow" campaign by Malayan rubber workers in their bid for higher wages caused a further sharp decline in rubber 33 minutes late at work in floor shares on the Hongkong Stock Exchange this week.

More than 180,000 shares employers to arrange a sette- changed hands and Amal-ment of the dispute.

Business done on the Hong-amateds dropped from But the latest news is that the

$1.30 મ Just Thursday's

konst Stock Exchange morning amounted 10 up- Not only are earning pespacia

*proximately $410,000 Noon close to a low of $1.075 yes- the

bas company bright but

quotations and the morning'sterday. Hand in Hunghom | transactions; ulso sold

million $5 which nets mere than

the talk and there 13 markel of a good bonus.

wus

BANKS IIK Dank..

15.

ป.

BALER

1059

100 2035

A 1000 21003

was $2,77

IL The DOCKS, ETC.

K. Whorl. Dock Frov,

East Ante

INSURANCES

Bombard.. Likler Wallers

239

170

500 fr

Wheelock

The rest of the arket dull again and prices look an- other small drop on the week. Turnover at $2.35 million in u

days trading Unstor three-and-a-half

better-bul week

slightly is

week Last only slightly. was just over $2 million. previous

million.

week

Dull Conditions

Of the 20 issues in the ad-

Joining panel, 16 are lower on the week, 1 are

steady

only three are higher,

Apart from Ducks, the only

two to rise were Yaumatis (up

80 #t 100 @ BOY

(0) 13:00 13:30 1000 13.30 0.05 0.73 2000 70

LAND, ETC.

MK Hotel

HK Land..

Kumphreya. RUBBER

132 13.70

A Rubber 1.129

UTILITIES

Tarn...

17.30

20.000

113

133 2400 EUDO 4 2235

2340) 22035 1100 u 22.40

300-19.00

-19 70 15,00

Star Ferry..

matt Ferry 100 100

$1 to $107

cent to $22.70),

Trading conditiones words of une broker

(U) c Ligh funnel report

INT and Trams (up 10 Flectric

Tephone Dom

speculation)

In the

жете prices inclined to sag because of inek of incentive."

"extremely clull with

He adds: "It appears difficult

30 3042 2000 301. 23.30 2215 300 $2,40 11.450

672 1000 11.90

INDUSTRIALS Canent

34% 35 RODO

1135 31.90 STORES, ETC.

15,00 Dalry

10.40 10.70

to give any definite explanation Watson for the present

L. Crawford state of the

COTTONS unless it is cautiously Texties watching the trend of world MISCELLANEOUS

market

markets which also seem to be going through a dull period,"

Gilts Lower

Allod

In the gilt section, apart from

Lombards, both Banks and Unions were slightly loweT.

In docks, Wharves and Pro- lower.

vidents were also lady.

Lands were fairly

Apart from Troms and Yau- matis, Utilities were lower and China Lights edged down yes- terday from $22.70 to $222. Electrics and Telephones also lost ground slightly during the day,

New York Sugar Market

The shores recovered

Lofore

the end of the morning call to the extent of two-and-a-half cents.

Rubber Trusty dropped from

$1,80 a nominal price of $1.30.

Five Cents Drop

ΠΟ

"go slow" campaign is still and workers are oven selling jewellery to tide them over hard times ahead. Also the workers appear to eritiei arbitration,

This suggests that the union attitude is hardening and that they will do their utmost to extract wage increases from the employers.

As well as going slow dally production all men of the National Union of Plantation

tools every Friday.

The price of raw rubber on the Workers have agreed to down

has Singapore market dropped more than Ova cents on the week, and by 12 cents

a month.

Two montis age, Amulga- muteds sold at $1.55 and Trusts at

This

that $2,20.

means Amalgamateds have lost almost 50 cents and Trusts almost $1 in the period.

Amalgamateds have recorded

some particularly

heavy turn- Earlier

overs in recent weeks.

this month more than 225,000 11.00 changed hands in a fortnight. This week the turnover was 160,000.

400 11.70

2016.10

500 i 10 200 10.00

Attitude Hardening?

The Straits Times estimated this would mean a loss of HK$4 day in untapped million

rubber

WORLD RUBBER MARKETS

London, May 24. The rubber market was easy with spot quoted at 23 pence per lb. Prices:

No. 1 Rss woot ........... 100 332

the

According to recent Singapore

Commissioner for July papers, 6.30

Labour in KL was trying 10 ...... 6.30 0.4012,000 5.20bring together union men and

6.23

Changing Pattern Of Finished

Steel Products

London, May 24,

227-23

Selticment house term:

August

2755-2274 227--229

Oct/Dec.

Jan/Mar,

April/June

General markets, cif basis,

porta:

May July

October Estate unquoted.

стере

thin and

AMSTERDAM

The workers also refuse to work overtime, and if it rains on any morning they will not work on that day.

They Raise Demand

On May 7 employer-employee talks broke down on a Union demand

for

HK$0-0-day minimum

for feld workers the lowest paid people on estates.

wage

The Straits Times poluted out that this was HES1.40 more than their present wage. The

final offer employers HKS5.70.

Wis

With the collapse of the talks the workers went back to their original demands and said that it negotiations were reopened they would want HK$12 a day for contract toppers, HK$11 for checkroll tappers and HK$9 for field workers.

The Secretary of the Malayan

transaction,

New York

Stock Exchange bond volume was $4,230,000.

American Stock Exchang volume was 1,000,000 shares.

Closing Prices

Allied Chemicals Allied Mills Inc. Ailla Cambre American Metal American Smelting American Tel & Tel American Tob. "B" Anaconda Copper

Armour ARMA Baldwin-Lima-am. Baltimore & Ohlo Bendix Aviation Corp. Dethlehem Steel Boeing Alplane

Burroughs Add Machine Canadian Pacific I

Case (3. I.) Co. CL. T. Financial Corp. Chrysler Motors Cantinental Oll of Del. Consolidated Edison Cuban Am Sugar Diamond

Nemours Dupont do Eastman Kodak

National COR

Elroad

Eric

Family Finance Corp. Ford Motor ..... General Electric General Food

911155

3416

0411

3015

190

783%

7346

32.02

Unlled Press.

LIVERPOOL

Future closings, in pence per

b. were as follows:

511 New contract May/June

40% Egyptian Kamak May/June

United HTONE.

P.OBIE.A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

---

Outwards "CANTON"

Leaves London

Ballad

Due Hongkong Beth Mar

"CARTHAGE"

20th June

"ADEN"

20th

Jurie

29th July

"CANTON"

18th July

*20th August-

"CORFU"

15th Augu

17th September

Via Southampton, Fort, Sald, Aden, Bombay, Colombo; Petianz Alagapore,

Leaves Hongkong Des London

Homewards "CANTON" "CARTHAGE”

**SURAT” "CANTON"

General Motors Goodyear The

International Nickel

Heyden Chemical Hoistake Mining Co. Int'l Budnem Machines Int'l Harvester

429

"CORFU"

341%

Via ВОДАРЕ,

International Paper Int'l Tel & Tel

12022

Port

Plantors Industries Employers

G. R. Association,

"The said:

(Just Houghton wage) agreement was in opera- tlon for only Ave months before notice of termination was given by the union.

Can't Afford It

afford can *No Industry

grant wage increases at such The Intervals. frequent MPIEA wishes to ensure that 11 future

will agreement provide for 1066 frequent Blaims.

CHICAGO GRAIN

MARKET

1st June

29th Juma

11th July

24th August

Dad July

31st July

13th August

24th September

21st September 22nd October

Colombo, Kambay Tebabr.

Bald

London.

* Also calls Hamburg, Rotterdam & Antwerp.

'FREIGHT SERVICE

In Port "SOMALI" 'SINGAPORE"due 3let Moy "SINGAPORE lords 10th June

"BOMALI”

DOW

Chicago, May 24. Grain futures prices were steady to weak on the Board of Trade today, with wheat and bottom of tho In

and soybeans at the "increase

weges

those now list. thick amenities beyond

being offered and refused would

Traders reported rapid pro-

43 harvesting be ilkely to have a detrimental

gress In replanting on which favourable weather and crop effect on

selling

and news brought the whole future of the industry

Majority hedging into wheat. depends."

the new crop was pold The General Secretary of the of

to Gulf ports, of Plantation destined National Union

with only small amounts going Workers, Mr P. P. Narayan into the ion.

"We have tried our best- said: to reach an amicable settlement.

# carly morning riiess duo to What wo wanted

prolit taking and averagei minimum wage for field workers equal at least to what is being about cent under yesterday's

close. bald to the Public Works De- partment doily-paid- einployees. "This we demanded in the The tin nrket was easy interests of the country and

The market was easy. Prices closed today in guilders per kilogram, clf June as follows: No. 1 rubber

2.23 pald 221 buyers

2.08 United Press.

No. 2 rubber

No. 3 rubber

No. 1 crepe

PRICES

2.20

The Government's policy of discouraging | LONDON METAL consumption of durable consumer goods and placing greater relative emphasis on capital construction and exports is reflected in the

London, May 24.

changing pattern of deliveries of finished steel spot and three months fell 74 industrial peace."

products.

-to

points to the common price of 745 sterling.

Turnover was 60 tons. Prices closed today in sterling per long fan as follows;

3-month

Figures Now York, May 24.

published by the in 1955 while those of plate and World No. 4 sugar futures to fron and Steel Board, for in-sections have risen. day closed, unchanged to 1 point stance, show that deliveries to Meanwhite, trade sources re- lower with sales of 140 con the motor and eyele Industries part that deliveries of finished

were running at 28,200 tons excel tracts.

products, particularly G and sections. are on a Domestic No. 6 sugar futures work in March compared with plates

Budem point 30,000 tong in March, 1955. On botter scale. There was a slight | Copper (pot|| closed tmchanged to 1

deliveries

demonth contracts, the other hand,

output Bigher with sales of

trom and steel drop Trade buying and covering ship-building, constructional and last month which was attrl-

Load 2nd half Mey

Aug. orders in the nearby world dell other engineering have been buted to the Essbor holidays but veries were supplied through rising and in March were at a supplies are reaching homp de Zino ad halt a weck The rate of 18,400 ton a realising and hedge selling.

as stinations at a more liberal rate domestic

against 02,900, tone a year ago. and there has been an encour contract Docked d

Deliveries

joging viso iry consumer, stocks, special feature. Futures:

Contract No. 4 (world)

1.34

anduci rate of

WDS

LONDON PEPPER MARKET

Tho

was

quietly steady

Soybeans

were weak after

Wheat closed off to % cent;

United Press. soybeans up to off 1% cents.

LONDON SILVER PRICES

FIDES UK

from UH.

Adra,

for Kingapore, P. Swet- tenham, Penang. Aden, F. Sald, London, Ham- burk, Rotterdam Antwerp.

loads 15th June for Singapore, P. 6wet. tonham, Panang, Aden, P. Bald, Genos, Mar wellies. Havre, London, Hamburg, Rotterdam de Antrop

BRITISH INDIA S.N. CO., LTD.

1856 - A HUNDRED YEARS OF SERVICE -- 1966 "SANGOLA❞ die 2nd Juno from Japats

salle de Juno for Blogspore, Penang.

Rangoon & Calcutta "WABORA" due 13th June from Japan

malis Teh June for Singapore, Penang,

Cicutie - CHILLKORE

P. & O./B. 1. JOINT SERVICE

"ITAURA"

"TTOLA"

"OZARDA"

for

London, May 24. The silver price was quoted London, May 24. today at 78%

pence Tarket pepper

White Sarawak spot and 7894 pence for forward. penica was quoted at 1 shilling 1014 (aguinet 78 and 70%

Black Sarawals proviously)United Press. 110% petice, selles,

special, 1 shilling pence sellers, Baja BlackMalabar, May wat

Buyers Selleen

740

74439-745

307

200

2043

300

110

108

100

-Ustad Presa,

offered at 212 phling 6 pence Exchange Rates

por cwtUnited Press.

UK sted production in All NEW YORK METAL N.Y. Cottonseed Oil, dollar per (1) The Bound said rat while was at on deliveries of shoot had bonded 21,890,000 tons compared

In Aral 22,141,000

March

with and

quanter and were in March six 20,435,00 in April last year, ac Der pent less than in March last cording to the Iron and Steel year, deliveries of plate and | Board.

Isections ingether increased : by

July

3.13

Sept

Oct,

33.37

|to dall slightly during the

1.23

NEU

May

July

123

Bept.

Spot-Counts per 3b, lob

"CUBK).

nino, per conk

Pig Iron Output

Contract No. 4

The same, dimngos is pattern

FUTURES

Now York, May 24. Prices of metal futures closed today in cents per lb. as follows:

May

14208

96.800

0.52

356 Bept. Now

6.50 Spot-(cents per in. gif, NY: N

*ax-duty)

1.50 **United Prem

Have been reflectod... Ji the Pig too output in Amrdi was unos at diponts of finished at an animal rate of 13,325,000 abeel. Imports of shoot and like itors andnet 13/024,000-in dorph phate

Juno

Eine

Coppes

have fallen in recent on 12101,000 Las Apel2, 1955 - months from the lavale reached China Mail: Siprecini

New York, May 24. Prices of cottonpood oil futures gloved today in coole per ib. as follows: July Bapt.

Bulidinem was dond In the local upometal exchange -market thin morning at the following rates: Bierling notes (per £1) Australian notes (per £1% Indonesian rupiah (per 100). ".. Slam fical per 100)... Singapore (Birgfla) ......

Radio Interference It is agrotted that owing, lợi poor rallo reception many com- mercial iteme dro fot: avaliable this morning,

dae ist May Balls and Jup

ÉZONA TASMANI

for Bingapore Madras,

BOMBAY, Colombo,

di Karsoni

GUD 6th Juno Rom_Bombay

•WASZE BEN Juppo Etz - Fapers

DOM-

due 10 June for Bingapore, safle 12th June MAX. Karsohl, Barah. Kuwalk Khornemakabr,

& Myne-al-Ahmedi

EASTERN & AUSTRALIAN S.S. CO., LTD. "ARAFURA” loads oth June for Sandakan, Rabaul, Brisbane, Bydney, Bis- bourne'de Adelaide "NELLORE" due in June from Australia

All' vesels have liberty to call at any posta on or off the zoula & the routa à soiting are subject to change or amendment' with or without noticé,

For full porthe dams appily fo MACKINNON, MACKENZIE & CO. OF HONG KONC ́LTD. Telephone Nos: 2977914.

1956-05-25 — Page 9

Comments

Private Research Note