TRADE
THE CHINA MAIL,
and
FRIDAY, AUGUST 3, 1956..
COMMERCE
SECTION
SUEZ NEWS HITS MARKET New York Cotton
But Reaction Came
A Day Late
SPREE IN LANDS
By A SPECIAL CORRESPONDENT
HK Bank
Lombard
Union
BK Whart
It Dock Ик
Provident
HK Hotels HK Lands
At A Glance, ★
9.30
Prices Move In Narrow Range
New York, Aug. 2.
Cotton prices moved within a narrow range on either side of the previous close in moderately active dealings today as most traders marked time pending the first official crop estimate o.. Aug. 8.
Prices stendled at the outset on some further foreign
plee
Some
December March May July
October December
32.70
32.70
31.80
3104
31,04
3108
The Share Market
Up or
July 5
1700
July 12 1000
47n
48#
July 19 1600 471
July 25
1070xd
ASE & 1020
down
steady
420
40
D80
980b
990
905
900
Underwritern
€1.80%
8,800
8.859
8.85%
8.853
Union W'boat
2344b
23146
23.00b
23.601
23.50b
Wheelocks
0.10
stendy -100 200
0.40
9.35
9.16
89
DZ
0344
00
-3344
$1.50
41.25
4134b
426
42N
steady
14.50
£4.40
14.50
14.70
14.00%
~100
14.50
14.50
£4.99
15.80
15.40
-40c
05
60
005%
67
-$12
fx
17.10n
17.100
20
20.30:1
20.20
--10€
144
1.45t
13%
1.526
1.475m
23.90
24.10
24.60
24
24.50
--609
139
142
141b
142
1376
LIVERPOOL
---35
Yaumatis
108
112
134
114
112
-$2
Ch Lighin (0)
24.80
24.80
24.30
24.50
-50c
Ch Lights (0) Electric
21.80
22.20
22.30
22.40
22
3131
314
32!
32
21
24.90
20.40
25.90
25.80
23.20
-600
30%
354m
35140
37
37
30%
16.50
10.00
10.70
16.30
100
11440
12.50
12.30
12.40
-300
Lane Crawford
31
29
29
20444
29.406
10%
Al the close, the Hist ruled four points higher to eight lower. The market opened one to four higher. New Orleans elod four lower
Futures closings pr 1b. were as follows.
Oid contract
in
pence
Del/Nor
Vanglare
7.05
7.10%
1.10%
1.05A
6.80n
--15c
Allied
5.65
3.45
5.25b
5.40n
6.35%
KAFE Inv
11.30
11.10b
11.40%
11.40%
11.20m
_20c
14
Textile Corp Niyang
5.50
5.25
4.65ea
7.60
7,806
7,00
1.05 7,708
4.40%
-25c
7,80%
-10c
For a whole day last week the Stock Exchange ignored momentous events on the Suez Canal and enjoyed a plunge on the news that rent controls were to be eased and ultimately lifted.
That won Fridny.
THE INWR Uhnt Colonel Nasser, The Egy phon Tulent had nationalised the cant coatpally came in early on Friday mom-
Though 1134.
tes late for morning pOOTI
But Freurs the now at B over Radu Hoogkong apri Bure others must have
POINTS
Were
But the market's coure in the almost few
days will exi certainly depend on the events
If Suez.
Colonel Jould
Herept Naver a wise he will
tist invitation which the British
French have offered to him to attend International talks.
Here a
of the week Hary 3'riday:
Lands netive M
BetyIN་ munnes sicurly To
1191
The aftermJUMINE full of it with big buck bazar
* extra headlines, yet stop ordinary use the market di Monday:
Tex
significance until Monony
thr
By that time Lanton azul New York Feriel WCTV marked down stuurply on the news and Hongkong's remetion wa Largrly based on this
Why So Slow?
No ENTAN to know why the
ket Wik *
Bor
possibly it was Friday's that went control WAT fu lifted by Apr 1959
**
ket land expected all week rova that controls were to be ment and when the Guzette was 1. Traged land shares worden van lich going.
A tout of 4,500 Hon La changed huseks at between $69-71 and then suffered slight There was als g.
Humphreys (threw
clay.
in
1,000 lots at 2015) but the game
lastert only the
By Monday most stocks were marked down sharply was uncertain
Tuesday Buyers came in This was followed by B of profit-taking and then p
note stralier
Several appear! stocks closed fractionally higher on the day.
Wednesday was dull, but rules were well maintained
Still Cautious
One broker thought the news
of the "invision" of Buring by Chines Troops
Tuesday,
Sharp Conction ་་ (*arel Merg
tar imf up to
4 people! $45 $1 6711* Hvers in
Jołtowed
evince
By persist-
}}}
taking.
teste fabe
$1 78m.
Wednesday: Rates, generally well
sint3110d. $410,000
Thursday:
Cautious market art
prav
Ugh ITĀLI
$700,000
TODAY'S
SHARE PRICES
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange this morn- ing amounted to approximately $780,000.
Noon quotations and the morning's Transactions
Husers Beilers
Wareh
BANKS
1 XD
1970
Humphreys HK Really HK Trams Star Ferry
HK Telephone
G.1. Cement
Dairy Farm
A.B. Watnun
WORLD
RUBBER MARKETS
New York, Aug. 2. The No. I Ros rubber futures contract today closed 40 to 120 points lower with sales of 154 contracts
12.80
16.00
WALL STREET INDUSTRIALS
NEAR ALL-TIME HIGH
New York, Aug. 2.
Industrial stocks failed by a mere one-tenth of
but
1.der met resistance from scale-up hedging around Toon levels which dropped the list a few polite, Thereafter, the market file to muve much either way.
three higher to
Пар Brot private crop esll-
mates of the new season were lower
Ihan anticipated by the trade but had very lithe effect on the market
One survey placed prospective production at 12,722,000 bales
other and the
a1 13,200,000 balea, us against 13,500,000 anti- elpaled by the trade
The low 12,722,000-bule esti- mate was said to reflect drought conditions in part of the West- bell where substantial acreages have been taken out of cultivation.
ern
Dec./Jan Mar/Apr May/June JULY/AUG.
New contract
Oct/Nov
Dec Jan
Mor/Jan
Mar/Apr May/June July/Aug.
Egyptian Karnak
34.70
23,90
28888 882903
Britain's Gold
And Dollar Reserves Up
United
London, Aug. 2.
Kingdom rold and dollar reserves rose by $20 milijon in July to 2,408 million. It compares with the increase of $10 million in June,
The United Kingdom had 4 deficit of £24,000,000 with the EPU la July com- pared with a surplus of £8,210,000. Of this 75 per cent will be paid off this month in gold or dollars. The other 25 per cent will be added
to her general
Defener aid estimated si $10 million was received during the month from the
Britain a United States. the same
tine paid $19 million in gold or dollars to the European Parments Union in respect of June
million to and $9 oreditions in selfiem. Special.
Union bilateral
China Maft
London Foreign
Nov/Dec
12 ng
SAO PAULO
Futures closings, in
cruzeiros
per kilo were as follows
October
December
March
36.90 38.00 40,00
May
unquoted Copenhagen
July
New York
Montreal
uncjrotei Frankfur
In the US the average spot on
price for one inch contract at 14 Paris Last year's production was designated markets was 14,721,000 bales and the aver-cento. Sales totalled 1,130 bales.
10 years-United Press. age over the past
a point of setting a new all-time record high in the 13.098.000 bales Standard & Poors index.
Sleei, of and chemieul shares powered a trive thut carried the Dow-Jones average of 30
The standard contract closed industrial stocks up 2.28 points to 520.95. The all-time high of 521 05 was set in April d
50 to 90 points loway
Te pinta Contracts,
with sales
of 46 contracts
He'x
10 to 45 clused
sales of (39) lower with
Closing prices.
No. 1 Ene
Sept
30 10-25
Day
34 10
Standard contract
34.33
Sep
ንድፍ
32 80
71.00
Mal
3
20 70
Meira
July ****
200
ZR 10
Rex
2411
Setel
10 PO
25
SHOW
Nov
20.70
32 13
Jak
MILL
May
July
Sept
1
Futures
140
DOON 14.49
2000 IN 14201
Back arti
prices forth
ali day on
Ja 15.30
500 15iny the
Suez Canal
4000 10
Fort Aula
INSURANCES
Union
180
Lí
The
SHIPPING Wheelock
4
Sel
usund
DOCKS, ET K Whart Dock
market but i junks IN
Jack of temerat
sible,
Wednesday was mainly respons
Yesterday the market was re-, Pos ported to be still entitious
pending clarißcation of the Suez LAND, ETC Cand situation". Prices yielded | UK Hotel ground slightly and the marker
was generally dull.
So,
werk
closes
share Banks)
after beginning
only
the
3
HK mi Humphreys
**
buoyantly tho imarketiy
Uhrer RUBBER
AHWAE Hongkong
Trut the rest
with (including stendly down. About half the falls 270 | UTILITIES only fractional, the rest between Team
Youmati 40 cents and $31⁄2
Seven shurey tell the story of
2235 21.20
SINGAPORE
30 60
10 יב2
28 AO
The industrials strong show. cle- Minall ing overshadowed clines in the railroad and titlisty
averages
tr
Strels
were pree-sellers on beliet the 33-day steet
Inland strike is near settlement Steel run up 3, Bethlehem: $2.50, and Republie 52. a share. Gains of $1 or more rume in Crucible. und Youngstown,
Continuentat Oil was up $3.25 In its group
Metal sharee also made a drong showing. Gulus of more und than $1
Anaconda,
were numerous
Alcoa,
include
Kaiser Aluminium
Volume Up
the last
bour and
Wit
Dupont de Nemours Patna: Kodak
El Paso National Gas
Rafrond
Ford Motor...... Family Finance Corp General Electri Gorsered Foodta Cheeral Moto Gen. Pub, Ut Gotty Oll Gidder Co. Goodyear The Ingersoll-Rand
Int Harvester..... Enternational Nicke
Int'l Tak & Tel.
Kansa C Power & Light
Lotwa Incorp.
Lone Star Cement Co Louisville & Nashville Lowenstein & Sons
Membi Iron Corp Minnesota Mi
174 New Orleans Cotinu Exchange announced That the average price of middiing cot- fun at 14 designated markets now based mi collon of one inch staple length instead of the 15/10 #64 inch length used previously.
21015
D7%
21
24
B
The switch to the one inch Staple length was taken bez-
Il contracts in the 7915 | Fulures market are now based
נאו!
32.99 Stockholm
Zurich
Quiere
Prowa
Exchange
London, Aug. 1. 27014-27814
2.73 5/10-3.73 7/18 10.3496-19.0491 11375-41073%
1747-17423
2801-880 14.40-1440 12.175-12.1514 unetianged. -United
PO BIELA
COMPANIES
PENINSULAR & ORIENTAL S.N. CO. ·
PASSENGER/FREIGHT SERVICE
"CARTHAGE”
"CHUSAN"
Leaves London
Badlerd
18th August
12th September 28th September
Due Hongkong 20th August 17th Seppsbor 18th October 27th October
Via Southampton, Port Buid, Aden, Bombay, Colombo,
36-44
60
37%
90%
Inland Stool ✡.
03
on the rume length.
Interchemiens Corp
371
Int'l Bustness Machines
505
Volum
and
озмет
interests
*
37
were:
1093
International_Paper
13
Mesot
3315 Or!
V.Juane 101,000
Open interesi
21,00
43
Dec
E
1.DG
Kennecott Cop
1181 Mar
3.600
332,400
Liggett Meyer Tob
Ca
раду
Mat
12.200
107,700
Lockbred Aircraft
Jul
127,500
209%
Ex
3,300
44.100
Dec
1000
7.000
Outwards "CANTON"
Taint
31,200
1,476,500 bulen
"CORFU"
NEW YORK
Stinston Development
40
Monsanto Chemical C
43
Montgomery Ward
Prices of futures closed todity
Motorola Joe,
44
National Cash Rex "A"
57
I follows
National Dairy Prod
42
National Lend
Simt
National Steel Corp
Or
Det
Mar
...
708
May
Pacific Gas 4 Elec Pan American Airways
$215
July
194
Oel
A
Paramount Picture
11
Parko Davis Co.
6211
Penny J. C. Ch. Phillp Morria
p4
Procter & Gamble Co
Pittsburgh Plate GiusA
Pubicker Industries
D
Pure O
481
as follows:
Radio Corporation
63
5904
Spot
Qolobar
Ba
2816
| speculative trading influenced Volume pleked up consider-
altuation. ably in
million Spot No. 1 Ras was quoted at half, with almost une 1000 15 20 35 cents pound.
shares changing hands in that
volunt 10-16
period. Total 2,530,000 shares, an increase of After
uncertain opening | 488,100 shares over vesterday. the market advanced on trade
The composite average of the checked support. Profit-anking
06 tocles at 184 11 was up 0.18 and a record high.
140 158 3000 STA
1170 1023 DURIN
155
100
21 24.30
140
104
C Light (h) 24 10
300 24.10
200 gr 24.20
20
1 Bun er 21.80
Electric
3፤
Veleulrone
the market break on Monday. Light IN 2170 Docks
fell from $42 to $40.
Hotels, from 515.40 to $14.90,
Lands from $68
le $87%, Bum
phreys from $20.30
Lights trics
from
to $19.70. $245 to $24, Elec
from $32% to $31% and Telephones from $25% to $24.60. The biggest falls recorded on the week were Wharf $3 o
5142 $90, Lands
to $07. Electric $1 to $314, Cements
$1 to $36%. Telephones 80 cents to $25.20.
Watson Late Car W COTTONS Nanyang INVESTMENTS
Allied Turnover is up-from $8.01 to
$0.05
anillion-Laugely due
Monday's spree, The turnover
on that day
million.
Was
Almost
Credit In Hongkong
to
$2
I naked a broker about the credit postulen la Horacion in pointed out that in the previous week, Mr Harold Macmillan, Chancellor of the Exchequer had
held private conference of
#
bankers at the Treasury in Lon-
2+
G013 # 3114
1000 25 $500 $24.DO 1000 24.00 2000 24.90
an
later in the
day
the advaner and thereafter prices fluctuated moderately. The
market ntcadter towards the close but
inclination to there WOM SOITA* further selling at slightly lower prices
No
Future closings were:
1 rubber per th August
Neither the aluminium strike Hor Suez crisis had much in- fuence, if any, on the market today.
Good earnings reports anth
nf toreensts
hooming វា fourth quarter triggered demand for stocks.
New York Centrul Ons Elevators Owen-Mots Glam
Republie Steel
Saint Reg. Paper
Stochir Ol
Bocony Mobil
South Puerto Rico Bugar Southern National Our Standard Brands Standard Oll of Cal. Standard Gil of Ind Standard Oil of N.J Sterling Drug Cu Sinkely-Van Camp
Studetaker-Packard Corp. Hwift & Co.
Texas Co.
Tide Water A. All Twenty Century Fox Film
Union Carbide
101-1957 101-101
Of the 3,160 issuta traded quested
today. 544 advanced, 394 declined 937-901
5-95
and 223 held unchanged, New DIL-024
2011, highs were made by 68 and new United Aircraft
lows by 22. 78-804 119-121
New
York
Tolon Pacifle Railway
UB. Gyprum
1.8. Rubber
1.5. Smelting
Stock Exchange US. Steel
| intl volum was $4,620,000.
easter with
American
Exchange Stock pence per volume was 1,210,000 shares,
INDUSTRIALS Cereril
35 STORES, ETC
14 19 10 10
3000 24
September
October
500 16.10
No. 2 rubber per 1. Aug.
230 # 1010
No. 3 rubber per 1. Aug.
300
10.10
500
10.20
Spot rubber unbalert
Nu. 4 Hubber per lb. Aut.
12.20 13 40
Blanket crepe
No
J vale crepe
100
LONDON
3.40
The market was spe quoted at 2954
Ib.
Prices:
No, mot
Dow Jones closing
averages
20-20-%
Settlement hotse term.
were:
September
Oci/Dec.
Jan/Mhe.
Apr/June
2014-2011 274-28 27-27 General markets, rif basis, ports:
212091 2834-2016 September
28-1-784 October
Estate crepe in Aug. 304 Sept. 361. Entate crepe thick unquoted. United Pre
20-2015
30 industrials
520.05
20 rails
170.17
15 utilities
70.90*
66 stocks
104.11
40 bonds
96.28
Comm. future price index Commun. pot price index
158.30
Moody's index.........
Rubject to confirmation.
163.32 410.40
London Stocks
Turn Easy
London, Aug. 2. Stocks turned easy on
Anguil
AMSTERDAM
don ostensibly to discuss credit new worries over the Suez The markot was erratic.
restrictions in England.
Closing Prices
as fol Allied Chemicala
Allied Mills Inc.
Allis Chalmers
American Airline
He thought that it this result situation and most sections Prices closed today in guilders Alden Inc. Aty.
basic rate it closed lower on the London per Idlogram, elf Aug. ed in a higher
Jews: affect might
Hongkong in Stock Exchange today. some way.
Observers noted some switch- No. 1 rubber But at the moment last year's into US and Canadian stocks, No. 2 rubber local credit squeezó-the higher with Hudson's Bay and Inter No. 3 rubber No. I crepe Nickel particularly borrowing rate and the celling national
Gains in dollar overdrafis-18 still being strong spots,
stocks ranged up to 2.
on
applied.
The squoczo appoint to be Olla continued their erratle affecting the market by restrain- behaviour. A mid-casion rally
2.05 nom. |Am, Cable_& Radio Corp. 2,80 nom. American Cyanamide Co. 2.75 nom, Am. Mach. & Y dry. 5,88 nom. American Mota!
united Press,
Ing turnover. This broker feels brought advances but, selling New York Foreign
thal IL, the restrictions were wiped out the gains just before cuced there would be mord the close, British Petroleum was activity.
Large Reserves
·But he also appointed but that many Chinto banks held large reserves of casti which they inwooling, in the market Wort perlodically. This tended to dis guise the full effect of the tight "credit polley;"
Д
the principal victim.;
Industrials chsod after, steady opening, but hold their Josecs to small fractions.
Exchange
New York, England official sta
British Governinent bonds Improved livestors -switched
New Zealand South Afric from more speculative, groups,
Copper shares weakened on eypt
of labour troubles in Antina Rhodosia Gold stocks were paklataci steady-United Pre
tridim
Amortizan Tel & Tel
American Toh. "D" Anaconda Copper Armeo Steel Arnour Baltimore & Olio Benguet Cont. Betlehem Steel Horden (The) Co. Burroughs Add Machine Canadiery Poolto R1, Cat. Tractor'' contagi
Celine Corp,
Warner Brum, Westinghouse Electric West Va, Pulp & Paper Woolworth
Bomewards "CANTON" "CORFU "CARTHAGE" "CHUSAN”
33.1on
2.54
32,72
31.41
* PR
31.01
Vla
NEW ORLEANS
Prices of futures closed today
Singapore
32.40 32.54
Stock Market
Singapore, Aug. 3. 130 Brokers today quoted the fol-
333lowing stock prices: 743%
70%
Opening 533) Batu Larstang Rubber Co. Ltd. $1.60
Borneo Petroleuma
British
60% Byndicate
27% Consolidated
50%
42/Gd
29/- 0012 Fraser & Neave Lid. Od. 1.9% 48th Frames & Neave
Lid. 75% United Prem
Th Setters Ord.............
New York Sugar
Market
New York, Aug. 2.
World No. 4 sugar futures io-
cum. pret.
Hongkong & Shanghai
tng Corp. Rongkong Th Lid Kempas Ltd.
"ADEN"
кароте,
A
Singapore.
SVEIK
Leaves Hodgkong Dus London 24th Augamb
las Gepterober
29th October
24th September
22nd October
19th November 17th November
Bombay,
at October
Colombo, Редаль,
London. &
Part
Bald
FREIGHT SERVICE
dut
10th Aug.
"SHILLONGʻloads 10th Aug.
qur
19th Aug.
24th Ave.
"SUNDA"
"BALSETTE" due
"SUNDA" tonds 11th Sept.
"SOUDAN"
dus 14th Sept.
from U.K.
Aden,
for Singapore, P. Swet- benham, og Aden. P. Bald, Havre, London, Hamburg, Rotterdam & Antwort
from UK.
from U.K.
Lot Singapore, P. Swet- tenham. Aden. P. Bald. Ham- London. Havre. burs. Hotterdam
Antwerp
from UK.
BRITISH INDIA S.N. CO., LTD.
alis 14th Aug.
1850 - A HUNDRED YEARS OF SERVICE - 1958
from Japan "BANGOLA" due 10th Aug.
for Singapore, Penang. Rangoon & Calcutta trama spun đi San And for SingaporY, PODADE, Itangoon
Calcutta Chittagong
due 14th Aug. kalla lith Aut
P. & O./B. I. JOINT SERVICE
"ORMARA"
$5.00
Bank-
#90 d
3/941
$1.70
L... 0.79
$2,90
"TTRIA"
$1.75
$3,10
"IKAUNA"
Lunas Rubber Estates Malayan Brewerics New Berandah Rubber
Lta.
Petaling Tin Ltd. Raffles Hotel
day closed unchanged with 110 Singapore Cold Storage sales reported.
South British Disururice Co.
Ltd. Domestic No. 6 sugar futures Baits Trading closed unchanged to one poin: Straits Steamship
United Exrsineers Ord. lower with sales of 20 contracts.
Activity in both futures
Wearno Bros, con-
Chim Mil Special tracks was very slow reficeling 1 the same conditions in the raw
5% | market.
19%
International The Council ended its meeting on
d110 6th And.. sala Bih Ang-
"UMARIA” due 8th Aug. falls 20th Aug.
due 11th Aug. Balls 25th Aug.
2.90
"URLANA”
CHICAGO, GRAIN PRICES
Chicago, Aug. 2.- Prices of lard futures closed metric tone in the world market today in cents per lb. as follows:
22-1/3
24T
Sugar
50%
185
70%
Tilk world · suger quotas at Londen
and ralod basic supplies to 100 per cent from 90 per cent. Cubs received an
additional 431,052
80
nd
19% of which 200,082 tons
Won &
109% reallocation of defleit stocks and
til 225,000 tons from the Increase.
1871 Futures: -
Contemet No. 4 (warld)
・Sept. 3-
September
October
November
December
1 1127
11.57 12.87 Urilted Prem.
Exchange Rates
Ekane we done in 'thak, Joon!
morning as tim. Followicie
(CLT. Financial Corp. Chase Manhat. Bank
July, ski
3.29
Sept
15/10)
217 13/10
Cheriler Motoru (+43 Colgate-Polenolive Co. 12...
Spot(certis per
Clamineirce · Creditt
Contract No.:
Comencerwealth men.
Sept.
Consolidariad ~ 2dison
Nov.
Continental Oil, of Del.
Mat
1.30
5.03
B41
| Starling notes (per ¿1)
0338
July
Crows Zellerbach Cuban "Amer. Bugle
erita", per. Itz, ell
106)
-United Press,
Indcilesisėsti Minal Fldbe BIRTH LONE (DET 100).
dus 24th Aug. Balls (25th Aug.
from Karachi & Bembry for Japan
From Karachi for Japan
from Japan
for Singapore, Bombay,
Паст Karachi. Khorramshahr de Kuwai from Karachi & Bombay for Japan.
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NANKIN"
0th Aug. Fall 8th AQT.
from Japmas
for, Bandaloro, Ertabar Bydney, Auckland, Adelaide. &c. Melbourne from 'Australia
sti Sept, "AKAFURA" duc
All vessels have libarty to call aù, any ports on or off the 'routs ✯ the ronte› ✯ salling are muchjoct- to change,or, Armendment; with, or switheus, matices :
for full particulary apply to:
MACKINNON, MACKENZIE & CO OT HONG KONG LTD. Telephone Nos: 277214.
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