4
TRADE
THE CHINA MAIL,
and
FRIDAY, JUNE
1956.
COMMERCE
SECTION
SHARE DECLINE ENDING? WORLD
Still A Slight Drift But It's Steadier
TWO BRIGHT SPOTS
By A Special Correspondent
The share market put up a slightly better showing this week and but for a further decline in utilities I might have been able to report a slight overall improvement.
The undertone of the market was fairly a possible steady and brokers are talking of pick-up in about three weeks' time when business in the new issues is expected to fall away.
still
The mucket
Iris {Jays! Light leant of last year's predil
brukers
think redrictions bul that as the Anal date for pay- ment of the Elveter and Tele- phane Issues fallo due Jun 30) Interest will be a
shares und
hecome availabl
investment
It as w
Li
The
the Hongkong and China Gas Company some Urte within the It has been next three weeks.
share- culled by a prominent Tukler.
As far as I know no date has
meeting you beets set for the will! The object, I understand, is to for general raise certain questions on the
money
ENOONSH
the
Indance sheet.
Market talk is that the Chair-
upper limite of the weekly (man, Mr G. E. Marden will not hurnover. But certainly It could; return for the meeting
be a lot higher than this week's
$251 million.
roughly
The Burnover
the wine as the pre- vious work ($235 and non a thire-and-a-hall day week) and
la marchatek weh recent balais
Greater Stimulus
The
Week's Diary
Here is a diary of the week!
Fow Friday:
und
Monday!
But hejony pun
there
very much
Durness can ex- will have to be under stratas than exists at pre-
Tuesday:
J
fo
pricem
investment,
ACTI
The recent decline in
has brought about all-retired in- reuses in yicle which should make shares
t'figy
medium of investment,
gaplar
And there is a growing ten- devey among focal matulla118
holding
shores abroad to dis-
post of these for higher yieldag
it Issues But
Alas the
Krowth is not sperianalar
atel
has mude hardly any Impact on
the market.
Following a week in which there were only three rises and Afven fails, this week the mar ket marked up nine rises and thirte
falls. Seven
were slendly.
shares
Dull Conditions
Conditions were still on the dull side and there is no real selling pressure. This was virjent from the very BRUTIW +iffer- ences between lying utid sell- morkel ing rates in the ser
price
htt
movements. TVO: $068.000. Virtually no change pricos. T/O.
$520,000.
Undertone quies
Nearly
Patisfiert
demiend
★ The Share Market At A Glance ★
DK Bank Lombard Unlon
HK Dock Provident
HK Hotels IIK Landi
Humphreys
HK Realty. HK TraTIN
8.85
22.70
May 3 1070
nay 10
- 1660
GO
094
990
072x4
May 17 1660
60% 97240
May 24
1655
469 0674
May 31 1645
Up or down
-810
45m
BYON
steady
Underwriters
9n
In
ទង
Од
steady
Unton W'boat
20.59n
Zib
Zin
21b
21b
steady
Wheelocks
8.A5
3.70
8.70
.8.05
HK Wharf
BOD
81
вор
H4
+34
·
STY
30m
4134b
4314
+$2
13.80
13.80
13.70
13.00
13.00
stendy
13.80 Be
13.80
13.70
13.60
13.40
200
034
43
02446
6314
62
860
17.40
17.40%
17.40
17.308
17.40s
+100
1.50
1.476m
1.425
1.425
145b
+3140
22,80
22.00
22.60
22.00
-100
1826
136
137n
130m
137n.
103
103
100
107
лось
22.80
22.00
22.70
22.50
22.40
-100
10.9
19.90
10.00
19.80
19.00
270
31
31.
30%
301%
30
23
22.00
22.50
35.40
22.30
100
3514
1514a
34.75m
34.75
3434
250
10.30.
10.20
10.10
15.90
20
11
11
10.80
10.80
10.30
-500
3in
Jin
34n
340
34n
steady
0.75
6.75m
0.80%
41%
0.535b
+50
5,45
9.459
5.400
5.20b
5.30b
+100
HK & FE Inv
il
10.80m
10.00
F.108
11.20
+100
Texille Corp Nanyang
1.40b
3.35
5.30
6.30
8.30
Ferdy
7.80%
744b
1.65m
1.05m
steady
Star Ferry
Youmatis
Ch Lights (0)
Ch Lights (n) Electrio
HK Telephone
G.J. Cement Dairy Farm
A.S. Watson
Lane Crawford
Yangisze
Allied
WALL STREET
UNABLE TO
HOLD
GAINS
New York, May 31.
Stocks added another 1 billion to Tuesday's
3 billion recovery but couldn't hold the gains today.
for rubber shares T: $313,000. Wednesday: Dult and feature
Late Irregularity devoloped to Glaciers Co Docks and less but
gains substantially Goodyear Tire Wharves
carly show impare
T/O: aud the market over-all closed Heyden Chem leat provement.
about
Industrials unchanged, $270,000,
the
Thursday:
were higher
on average:
Goodrich . F on
*:00
קוד
WORLD
COTTON MARKETS
RUBBER MARKETS
Now York, May 31.
The No. 1 Ras: rubber futures contract today closed 65 to 75 points lower with sales of 193|
contracts.
The standard contract closed
50 to 85 points lower with no anles reported.
Easter trend reflected reports of a reduction in the synthetic price, and consumption of a fale- sized shipment business in re mill grades at "attractive prices.
awaited on Confirmation was news that a lending producer cut the price of synthetic nine-tenths of a cent to 23 cents, erasing an
month advanco made about o
In shipment rubber. four ambers, June shipment, sold at 19 cants and three ambers at 20% cents a pound both cost and freight, with offtake poor.
Factory business in the deli- very murket was routine. Spot No. 1 Rs was quoted nominally 26 11⁄2 conta a pound. Futures:
No. 1 Res
Page
Imperial Preference Whittled Down
From Ernest Ashwick.
Geneva, May 31.
Imperial preference has been considerably "whittled down" during the tariff negotiations of GATT (General Agreement on Tariffs and Trade) which ended its four months' negotiations in Geneva last week.
1
In return for less British tariff to £30 million a year following preference to the colonies, the the negotiations. US has loosened up on many
Mr Dana Wilgress, Canadian Items under discussion.
ex-chairman of GATT, In his clon- I am told that Britain's
to the ports
United States ing speech said that farit con- cessions. na neen to date will should therefore.
rough estimates, increase by at least affect trade to the value of over
£900 million. 15 per cent.
Compensation
He added: "With some gratify-
ing exceptions, most of the tariff concessions tend to vary between reduction of 15 per cent on the
of: Britain. however, won the one hand and the binding round with the United States existing rates on the other."
Tila during these tariff tolka.
Full List June 7
is the United States's agreement
and to lower tarifis
Increaso import quotas from Britain on several Items negoitation list.
ELA
their
con-
tarifi The full list of ccssions and what Britain is likely to gain from the past four cum- months of negotiations will be
British delegate Mr. Cyril
pensation for the increase made known in London on June imposed by the US last year in 17. the Import duty on bicycles
British Sundors, of the Board of Trade. White Paper would "be
not
on
July September
23.00
21.40
This was regarded
December
24.10
Standard contract
July
26.90
September
25.25
December
24.13
March
24.15
Bald a Issued
23.80
23.00
at
The protocol was signed This duty will not be lowered,
including 22 nations, including the but uther goods
West Germany and Scotch whisky, cars, copper con- Britain. centrates, and strel products, Japan will benefit.
by
US.
Niny
July
LONDON
The market was stendy with spot quoted unchanged 21-16/10 pence per b. Prices: No. 1 ss pot
***** 217-22
Settlement harus teru
July
Aug.
Sept
July/Sept.
New York, May 31. Cotton prices today Oct./Dec.
A
But Mr K, Taisuke, delegate very Scotch whisky,
and for Japan, did not look Epirits
He had beer imported from Britain Into happy as he signed. the United States last year were failed in his task to get Britain £22 million, to recognise Japan's membership worth well over
2114-217
212-21
214-21
This figure is likely to be raised of GATT
211-212
steadied after start
2136-2114
2006-21
General mackels, cif baals, port
*
July Aug Estate
mixed Jan./Mac, Apr/June activity although generally remained on the June
quiet side.
Rallying tendencies gathered momentum toward the close in
with a
higher mid- company April purity price report.
143%
Horstake Mining Co
colland Inland Steel Cu. Interchemical Corp.
34
10,
A rise of
53
Intel Harvester
Slight improvement in volume of busi-ruils lower.
with minor Trading was at a slower pace Int! Bunless Macines
movements than on Tuesday when the mar-fäternational Nicket price either way. T/O: let staged its first gain since laternational paper $730.000.
May 17 and the second in 17 Int'l Tel & Tei
Jotin-Manville Co. sessions. Turnover of 2,020,000 in C, Power & Light shures compared with 2,430,000
TODAY'S SHARE PRICES
in the pre-holiday session.
Coppers were weak spots ali day, reflecting anticipated price cuts. Anaconda and Kennecost fell 2 points or more..
Chemicals, upside lealders most of the session, came down at the close when Du Pant backed down to a small from an early gain of pouts. Final Losses
In
Kennecott Copper
Liggett Meyors Tob. Co. Lockheed Aircraft Loews Incord. Lone Star Cement Co. Louisville & Nashville R. Lowenstein Sona Mesabi In Corp. Minnesota Mining Mission Development Monsanto Chemical Montgomery Ward Motorola Inc.
almost cent
a1-214
2114-21% thin June стере and July ... 211⁄2
thick June and July 30 AMSTERDAM
The market WOS steady.
a Prices closed today in, guildors cif Juno as fol-
420 pound in the parity index sugar kilogram,
345%
120
31%
zested a proportionate rise in the lows: loon rate for the new crop.
the day's bas Closing near 80% levels the list finished up 14 to
40
12144
37 points 10% off 3 to 4 Opening prices wore points. New Orleans closed up 15 to 30 points.
Anticipating
40
**
70%
0712
rectes,
weekend Iraders remained in a 24 holiday mood while pondering 471 Washington
developments
on
programme and soll
20% bank tenet
the exflis.
Co.
00
loss
National Cash Beg. "A"
42
National Dairy Prod
National Lead
National Steel Corp. New York Central
17
53%
431.
Owen-Inota Glass
72
191
31
From Our Correspondent)
the olls final changes Business dane un the long-
from B loss of more this ranged Exchange
than 2 points in Royal Dutch to morning mounted to approxi-
gain of 2 in Texas Co.
quolations at varlets hints tast kong - Stock week.
The two. exceptions wern murtely $150,000. Noon quote- Hongkong Wharves and
Hang-ons and the moming's Docks which neule fur- étions:
kung
ther spectacular days.
Wharves
arr
shares
trans-
For steels, Boal tosses ranged to almost 2 points in Bethlehem. Motors gave way with the rest of the st. Chrysler closed with loss of more than a 51843 point, Ford with
a point
Buyers Sellers
Hales
364
1 k
146-0
their Past Asia
18 INSURANCES
Unton
LODSTU
murd up steadily BANKS $80.50 Last Fruity tr from yesterday on a turnover of 7,000 shares.
Kat They
about highest poin for months and are near the 1954 peak of $85.
Brokers are puzzled by
thot
the
the pocks. ETC: rise. They offer tentatively the K Whart
chalrinan's Dock thought
Prov Annual report was well received Wheelock by the market, but they are at
1170
45
400 47 05
47
200 4334
10)
33.20
8.75
1000
O
JUK Hotel
LAND, ETC.
the
lumphreys
13.30 13.50
17.49
12 21
Rubber Lija 125
loss to explain the shord rise
that hon taken place. This dates d
from
share's
ざいる。
early April
when
ex-dividend price was RUBBER
Another Puzzle
The continued riso in
Docks
In another puzzle. I mentioned
some of the factors behind this share's rise last week, but ob- viously them is something more.
A.
BOTH THE 11215 1,405
Tram!
23.10 22.00 Y'mati Ferry 106 106
à Light (0) 2240 2216 1000 C, Light (N1 1970
30 30 Electric
H
drop.
On Mathieson Otin Elevatorm
Pan American AirwVAYN Paramount Pictures Parke Dovie Co.
Penny J. C. Co.
Pena
Salt Co. Philip Morria
Business
originated mostly among professional traders, with spot firms, mill accounts, com- mission houses and local traders reported on both sides of the market.
AFTERNOON RALLY
An afternoon rally coincided 503s with the
No. 1 rubber
No. 1 rubber
No. 3 rubber
No. 1 crupo
3.10 pold
2,00 pald 2,03 buyers 2,67 pala
United Pre58.
London Stocks
Edge Lower
London, May 31. Gentle pressure pushed stocks lower on the London Exchange today. Volume the smallest of the month.
WELB
by announcement
Agriculture Department Secre-
British
tary Mr Benson that the new { notably
121
871
4
cter & Gambie Cu Pittsburgh Plose Glas Publicker Industries Pure Oll
10
44%
434
71% under
3016
72A
15
cents a
(Com
33% 113
Radio Corpuration Republic Slech Reynolds Metai
were Shell Oil Co.
Tyres hand losses of 3 points tr Goodrich, Aircrafty mixed.
Activity centred in Standard, General Motors, Royal and Studebaker,
Saint Reg. Paper Sinclair Oil.... Jersey Soceny Mobiloli
South Puerto Rico Sugar Southern National Gas Southern Italtwas Standard Brancka Standard Oil of Cal Standard Oll of ind
"Of a total 1;162 issues truded, 635 were higher, 402 lower. York Stock New
Exchange
bond volume was $3,020,000,
American Stock
volume was 670,000 shares.
Governments weak. War
*
*
P.OBIE.A
COMPANIES
PENINSULAR & ORIENTAL S.N: CO.
PASSENGER/FREIGHT SERVICE
Outwarda "CARTHAGE"
"ADEN"
*CANTONTM*
.'"CORFU”-
Leaves London
Sailed
2003 June
10th July
15th
August
"CARTHAGE” 12th September
Das Hongkong - 25th Jun
27th July
20th Augum
17th September
16th, October
Via Southampton, Port said, Ademi, Bombay, Colomboj
Perang & Singapore,
Leaves Hongkong Due London
31st July
24th August
were
*
Loan
Homewardı "CARTBAGE" 20th June **SURAT "CANTOK" "CORFT" "CARTHAGE"
11th July
Via
584 enacted roll bank programme tumbled, about seven shillings will be put 'into effect Im- and closed barely £1 shove its
with
"generous" all-time low. Others lost be mediately, payments to farmers who plough tween 2 and
1056
of стора
Oile, too, felt selling, Boynt corn, Dutch skidded nearly £2 wheat, cotton and rice.
Cotton farmers will receive despite a favourable earnings pound multiplied by report, and Shell Transport lost the average pound per acre better than a shilling. British weak wis another yield on the lend taken out of Petroleum
spot. 42 production
CEMENTS HIT ̈ Simultaneously, the Secretary
hold announced cancellation of the
Industrials generally
al- June 5 bids
their lossts on Government
a few pence, The next cotton for expart,
though
leaders were a. few
a chilling: 81⁄2 round of bids was postponed down as much B
building shares all lost ground. Associaled Portland cement was
10012
OT
Exchange
Standard Oil of NJ, Stering Drug Co. Stokely-Yan Quinp, Studebaker-Packard Corp. Swit& Co.
B074
-54
191
43 12334
415%
17714
617
047
20%
Dow Jones closing average A Co.
were:
30 industriais
20 rulle
21.40
18 utilitie
Rt. 10.10 19.30
19.0
0,70
Koo 2:30
Bonus
Macao Exc In just a little over two months, Teleption 1220 22.40
Ft 1155 11,00
.... 344 34%
COTTONS
-18 10,10
10.30
19
they, have rison $11%. I under- INDUSTRIALS stand that the shares are fairly ment tightly held and this might ex-ORTS, ETC.
unsatisfied Dury plain some of the demond but on the information Walson I have at the moment I cannot Textiles explain their spectacular move-Nanyang
MISCELLANEOUS mont.
*** 0.30 Docks, roso from 41 last Yangtze Friday to a new peak of $43 yesterday on a turnover of more then 3,000 shares,
heavily
Rubber shares continue to sell weelt mora and this 54,000
Angigamateds However, al- changed hands.
the price continues to though
thori
fall in Singapore, Hongkong shares staged a alight recovery.
$14
Allied
1.30
742
7.30
6.30
6.35
da stock
40 bonden
Comm. frature peice index. Comm. spot price index
Moody's "index
Closing Prices
Alden Inc. Aty. Allied Chemicals 500 16.10 Allied Mixts Inc.
Allis Chalmers American Airline American Cable Rod
Singapore
Stock Market
Singapore, June 1.
quoted the
Brokers todog
From a low of $1.15 Must Friday following stock, prfook: Amalgamated climbed up to before closing slightly lower at Datu Lántang Rubber Co. $1.225. Trusts are also slightly
Corp. American Cyensmida, Am. Mach. ir dry. American Mcial American Smelling Am. Sugar Ne American T & Tel American Tob, ""
Anaconda Copper Armco Stee). ... Armour
Baldwin-Laina-Ham. Baltimore & Ohio Bendix Aviation Denguet Cons Bethlcherza Steel Boxing Airplane
478.05
Tide Water Alm. Oil Union Carbide
106.10 Union Paolile Railway
56.24 United Aircraft
109.73 | U.S. Gyprum
0.47 U.S. L Co.
15003 US. Rubber
U.S. Smelliott
411,10 | D.B. Steel
1976
Warner Bros.
Westinghouse Boctelo West Va. Pulp & Paper Wookworth
to June 18 to permit a study of engineering, stores, electrical d tho
foirm bill provisiona 1101 price cuts.
the
on
Traders marking me awaited mid-April warly price report. Interest in the month- Dito-month changes in the party since the final base Increases Government loan rate for the new crop will be based on the. mid-July parity rate, traders pointed out.
United Press,
The certificated stock moined unchanged at 11,978 NEW YORK Prices of futures closed today as follows:
New York Sugar bala
Market
New York, May 31. World No. 4 Bugar: markot today closed 2 points higher to 1 point lower with sales of 62 contracts,
Domelle No. 6 sugar futures closed unchanged to point lower with sales of 424 con- เป็น tester
2
8136
World futures were quiet 562 with frado intermis on both
sides of the market. Most of the sclivity in the domestic contract control, in the July dollvery where 100 contracts wone ported against businées in the spot market. Futures:
Controt. No.
Borders (artie) Co.
Opening
Burrougha zúa Machine
Canadian Paglio R...
31ft
Ltd
$1.20
Case (J) Co,
11
better. Buycas aro
from British Bomeo Petroleurza up
7B
$1.30 to $1.375.
Bykosten Consolidated Tin Sniml
1.00
Utilities Lower
Hongkong Banks and
Carrisonwaslih Eleh..
Cat. Tractor
/ odolelsernemer SUDA
| Promox &à Neuvo Láď. Ord $1,70
Fraser'de Nouvo Lii. 7345% fisaum. - pret, Mid
Union oncomat ja dr
Banking Comp. La
Insurance have boss dull along in Ltd. though Banks found support at Koemans, Ad. the close of businees yesterday Laubber Zeiten Lid. got the lower level of $1,640 How Serandah Rubber
down #10 on the week.
Maluri Freweries
Uuudes wem luclines to drift Fetaling in Tia." fractionally lower but picked up alightly yesterday, prag
In the stores group Watson dropped to $10.30, down 50 cents Div the weak Apa
I hear there is illesly to be a
extraordinary general meeting
Rames "toted Binnspore Cold Borag Bodies
∙Co. La Strata Troding. Stredit Stearahisi Uribed Engineeri Weserve Bros. BEYO
Corp CLT, Firmeneial Corp. Cofyalar: Motorn við Colgate-Patrditve to, Comenovalot Credik
Consolachaled Edlaors
| Continverstand Oil of
| Growb Zelenléch
Cuban Aamer, "Bugar"
·Allowi· Dow Chemtique |Dupont, che Hernoura,
HP National,
Family: Pisaner). Kord Mortor.
deb Diamond
| Generát · Motors
den Pub, Utili City OPEN
$1,400
$18,60 Ceneral
per lb.
Spot July October Dicembre March
May
July
October
22.00
a major casualty in its tumbling abou: four shillings,
Golde
after closed lower brhtening a bit carly in the finished with day. Concional declines. widespread
were steady German bonds. and Japanese mostly idle in quict foreign department.
Dollar stacks got little atten- were mainly un- 11on and changed.United Press..
London Foreign
Exchange
24.09
22.30-32
360
4
New York
2200
31.03
NEW ORLEANS **Prices of futuros closed today as follows.
Spot July
October
December
Marets
May
Montreal
AxeberderyA Copechagen
13th August: *
24121 Beptember
21 September · 22nd October
10th November
19th October.
Bingapore, Penang, Colombo, Bombag, Áden,
London. Fort Bild
★ Also cafla Hamburg, Rotterdam & Antwerp.
FREIGHT SERVICE
'SINGAPORE Tue 2nd June from V.K. "BING AFONE"onde #1th Jime for Singapore,.P. Swet-
Leniam, Penang. Aden." P. Sak, London, Ham
Rollerdam
"SOMAU"
"SURAT
Durs.
Antwerp).
londe 18th Jizze for Singapore,' P. #wel- terham, Penang. Aden, P. Sald, Genoa, Mar wollen. Havre, Loodan, Hamburg. Hellerdim
· Antwerp
"dos 27th June from UK.
BRITISH INDÍA S.N. CO., LTD. 1858 - A HUNDRED YEARS OF SERVICE — 1950
from Japan "SANGÓLA” due 2nd Juno
salis 3rd June for Singapore, Penang,
Rangoon & Calcutta Kross Japanes For Hingapore, Penang
·Calcutta-
a
“WARORA” due 12th June Falls 16th June
London May. 31:
2001-2005/10 5.93}{-2.77 5/16
10.67-1987)&
10.3917-1940
11.7152-12.71
Parts Stockholm
283140633
145142-14,39
35.30 24.03
Zurich ...
3466-60
31.94 30,08
Future closings, fi pence per
July
October
MOSES LAVEBFOOL
-lb. were as follo
3.30. 2.30
Old contract
July/Aug.
"New" contrae
July/ADE.
· Off/Mov.
Mar/April
May/June.
Egyptian; PComAK)
Market closed, holiday.
Other Woro unchijraged.—United
New York Foreign
Exchange
Canada
23.18
24.03 01.00:
In the US the average price of /10 3 mickling #ention at 14
Spot inarkets/w
13.078 botë PUNIM
New York, May (31;
$1.01 1/10
futures
Exchange Rates
ming: mâ, chờ, tollowing rates?~
Chittagong
"BANTHA" due 15th June from Calcutta
alls Kith June' for Japan
P. & 0./B. 1, JOINT SERVICE
in Port A *TTAURA”.
"TTOLA"
sails and June
Erena Japan
for Singapore, Madras,
* Collenbo,, -
Karsobl
"BOMBAY,
dus 8th June femen, Bombay Pastís Ethy June ·fox Japan je
"OZARDA” Aug 10th Jums for Singapore, HOM- sala 13th June, BAY, Karachi, Bamais
"ORDIA”
H
Khorramshahr, Kuwait Mena-al-Ahmedi
dus 20th Jure from Bombay walk, 22nd June, for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"ARAFULA" toads til June Kar Sandaker, Rebeul,
· Hiriabana, * Hydney" Mel Bourne às Adalada
"NELLORE”; dua"-tih Juno Eroni Australia
Al vessels have liherly to esil at any poris na or off this rente im the routa' di sailing are subjec TO. EDERKO. De amendment with or without nolice.
for full particulars apply tui MACKINNON, MACKENZIE & CO. OF HONG KONG LID. Telophone Nos: 27721-4,
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