1956-08-10 — Page 9

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TRADE

THE CHINA MAIL," FRIDAY, AUGUST 10, 1956.

and

COMMERCE

SECTION

Pago

MARKET MOVES ERRATICALLY Cotton Futures

HEAVY SALES BY CHINESE

BANKS DEPRESS PRICES

-and then

BARGAINS ATTRACT BUYERS

By A SPECIAL CORRESPONDENT

HK Bank

Fluctuate

New York, Aug. 9.

Cotton futures see-sawed back and forth on either side of the previous close in quiet dealings today as new incentives were lacking.

* The Share Market At A Glance ★

Up or

July 12

1090

July 19 1690

July 25 1670xd

Aug 2

Aug 9

downt

1870

1060

-$18

Lombard

481

47%

476

47.m

nteady

Union

SROD

990

994

800

9865

---$5

Underwriter

8.801

Union W'boat

231

8.80% 23.00b

8.858 23.000

8.83m

8.8011

21,600

+500

Wheelocks

9.36

9.15

0.30

9.10

8.8G

-30e

IK Wharf

9314

----2

Yesterday's sharp tracted some increased nesiging in early dealings att privez fell

us mach at 60 coul a bai”.

I-

Dea

MAR

May

July

Orl

Dry

11K Dock

41.25

414b

42b

42N

-$1

Provident

14.40

14.50

14.70

14.00%

13.00

--700

HK HotelN

14.50

14.80

15,80

16.40

w-400

HK Lands

001+

17.10b

20.30

20.20

-500 steady

1.43b

1,325

1.475mm

1,43

2540

24.10

24.60

24.50

23,80

-70c

14IN

141b

142

137b

1300

+32

Prices movind Chelt

114

112

100

24.90

24.00

2229

22.30

25.40

321 25.00

22.40 32

24.50 22

23.00

curly

previous cloung

thee

21.20

-80¢

301

201

--$1

25.80

26.20

24.30

-700

35426

-500

16.00

16.60

10.70

16.30

15.89

--50c

Youload ivy the price 1022, though e

10654 Weilne schay Sporulation

A.. Watson

12.80

13.30

12.70

1240

11.80

-400

1/2

Lane Crawford

2012b

29,406

29.40

steady

7.10%

7.0511

6.HON

6.73

! Purets wege down

:f 4]y 2761 $5.

trend chungsrom

week's

JAY

Allied

5.45

3.25b

5.40K

5.35%

5.301

steady

BK & FE Inv

11.101

11,40%

11.40%

11.20m

11.40m

Textile ('ap Nanyang

5.23

4.66ea

4.05

4,40%

4.45N

steady steady

7.50b

7.60

7.70%

7.60%

7.00n

steady

remember telling a friend on Tuesday afternoon, after the manner of fee House Street men: "Buy Lights at $211⁄2. You should be able to get them at that price by Friday."

I also remember getting quite a shock on Wednesday afternoon when the market report arrived. For instead of going down further, Lights had risen 90 cents overnight.

Exvention

Was het

Farsley does

that He meat would continue i wrak ! Mark upon to unfal

་ ་་!,་ -' !

1 has

קיי

The Sex Calul pra

But what happthod wa Chan

311

AND M

bank

יין

the bang im from trad

1. f. stil the 4 the contaks t

all 1

on lundary was the god mark t

+11-

1 kg at the masket Banka

bark $10

$1600.

were

fakt

12 prove 17159

werk's at- predation but feeling the to $86, 1s 1 ale that we have 4**(2

lew rank this week, I

In the wharf and dock section, (templed FIK Whaves lost

F. SE to $41 and Provarients jin, ikel

$139

Kresledbetontial Falls

de fuz ay that utlan

are bound

Legyen

Trates are down 700 cetils ** Bo, Chana Lagħats, D8 venta $23 60 pully parets de conta $21 20 Flextrins $1 to $304

***175

55 50

Baner $0.185

In that pelang a der of

Shares Revive

Weidner Fas

1༔iÜ-- སྩཅ༈tt_ht¢

to th Mana 4 Tundra ky gold

advantage of brat on 11

Rubbers Down

Humphreys HK Really HK Tramk Slar Ferry

Ynumulie

Lights (or

C'h Lights (n) Eleirlo

HK Telephone

(1.1. Cement

Dairy Farm

-000

Diary Of The Week WALL STREET INDUSTRIALS (Cable & Wireless

Here is to diary of the week

Friday:

strongly and Dairy Farma are Both all tents lawer, while W.it

Pak vacht genund

under

→ Thing

Tuesday:

persistent

TO $145 mi

Pests fent

chique seas

PV. Every

* ET and Investment cod

bol appene to have

BUAH

Wednesday: Sharp

1 $940,000 Better Sertinent.

s་ 4༴at「#»«

Alarm thanks a free the work | Thursday:

theanth

WIH

tit

...

213 13 ti! 141 Mas-11-

Thor

Wap

de edend East and, later in the

Tielk

Callal.

wher Oge 24 maticas Jp Ice pt 1 - 1 delernation- hation t

But

116.

appendix Pas does not

...

deme te batol werk that while there was Be wel Jon Japabatan te Was geol

buy ong sitpport

lightly lower levels

where

peaks of t

altertuota

15 en welishi by recent lacus.

2 diena egitu

1:0

Singapore rubber, int

100

WORLD

Stram

RUBBER

MARKETS

New York, Aug. 9.

rubber The No. 1 R36 futures

today closed

Anes apgo to to plewend points higher to 105 points

As the (doty

603 than 1

201

web de

Big Turnover

The only qualitie pang kedek

the Ford atonteras

36000

1. Ja spate the short eur fault Hobday Monday, market turnover liquet Be SB

lower with sales of ten

contracta

The

וין

pitals with sale of live colitikets

These plant bot 80 1- with talog of 90 podats howls 13racts,

(S6 2019s indee mark zutten avand $4 d5 millum the jakn Jars eitis week) ml, at the en

famstress, rent rate

Max

''เพลง' LORDYSOV,

UNABLE TO

HOLD NEW HIGH

New York, Aug. 9.

Industrial stocks made a dramatic effort to

ring up a new all-time high today but profit-taking

Theo Juqundation. proved too formidable an obstacle. T2 mullion

TODAY'S SHARE PRICES

From Our Correspondent)

Arunt

Curp. Industrial Celanese Toon the

Finañetal Corp actually wan 11 417-

Chune Manhat, Bank average thanbad tertib, but perva Poli Alu ynie Muluzin

Climax Molyldenum harply from there highs when

Colgate-Pullive Cu selling set . At the che the

Commercial Credit tryiustrial average was up only Cention weath Ele

Consolidated Edison Shoghtly.

Continental Oil of Del

Patty Co... W! Crown Zellerbach

The market experts only 14 closing

In averages cadrulating new highs and lows,

13%

في الدنيا

201

520

12%

13045

114

A015

ተገቢ

Fasinan Konk

El Pak National Gas Eite Ratiroad Family Finance Corp. Fort Mitas

10%

Cuban Amte, Sujar Dismund Alkuli Dow Chemicals

So, officially the market did not ¦ Dupont de NemouIS

new high.

101

aircrafts arch specially Jiew payed the industrial list. Weakness in steel and rctels

from

Business done on the Hong-

Stock Exchange This pulled The average down and

inarket kong

prevented the Ring amounted to approx: - 1

Noon quota- mately $380,000

sthus a new high. Lantis ! the conting's trans-

shintes

HANKS

Bells Sales

1000

INSTRUANCY

1435

LILA iwand

Halcon ques trade the best Utilities ensed light-

THE

missured by the av e, agen

the my major group to

by 2 EI M show a dip

Sales

General Electric General Fouda General Molpes Gen. Pub. Unu. Glidden Co (B Goodrica Goodyear Tyre

Foto

Heyden (eutical

Hommake Mining Co

Ingersoll-Band

Inland Steel Co

interchical

In Bustnem Machi

Just Harvester International Nickel International Paper Incl Tel & Tel John-Manville Co

Sales today totalled 2 559,000 Kansas Power & Light

The Dow-Joness Andlit dial average lærer! at 510.04 up 0.30 At its high today this points. (average strot at 523 20 and the

low

was $17.13

No. 1 R9

SHIPPING

Am Nay

Wheelock

120

500

4.40 shares,

Standard contract

3376

DOCKS, ETC

K Whert

A INI

Luck

11 100 BB 40 41.

Jyv

* 1570 14

3090

21 บ

: ་་

LAND,

ETC

HK Hotel

ITK

14:50 14:00

thrit

1400 240

14 80

1100 45

whole, Sratessa er

34%

Rusly

143473

Nuvemula

which

January

bike!

AUBBAN Amdhr

# 15

Muv

Trost

1 63

July

Yator of

109 L()) 234 23.00

23 00 2389

have exerted 48 multion a fyr-day work

.' חזן

Fac Jower us the previous week, The but this is largely due

decline which began agua yea- terday afternoon when liquidez. tien causal factional tosses in:

Issues.

ει

low

In the mere hereally shares, notably China Electrics and Telephones, ranged up . 50 rents

الليل

315

$470

23.04

20.70 TILITIES Septemplu F

ԱՆ pices pared again on and lessening of prut taking hade tension over the Suez Canal Laghts,mation Most of the activity with factory Spot No. 1 Rss

al 35 qunted nominally

Talls was

Blue Chips Favoured

Chi

Yesterday more than 15,000 |

14,000 Light 41/pc. Telephonani 11,000 Whecks changed hants. Lights enacted) Jewel and *{{e= 30

clay. the phones stendy un Wheelocks were up five cents to $0.80.

centr

apeculative

business

Wit

vents

SINGAPORE

The market continued to wit- nes liquidation brought priens down inspite of fair trade sup- pro-lower purticularly purt. grades. It steadied towards the cloru with ellers reserved. There WAS soine Australian

Futures:

rubber par Alai

101-101

150 5500 1475

5000 or 1 673

1024 2000 23.00

2003.70 500 3,50 300 24.00

Kennecult Copper

Liggett Meyers Tub. Ca

Lockheed Aircraft

Loews Incorp

Lone Star Cement Co Louisville & Nashvill R

Son Lowenstein & Mesabit Iron Corp Minnesota Minin

Mission Developin Moncanto Chemical Cu

394

Profit Up

London, Aug. 9.

Cable and Wireless, Ltd, reports for the your ending March 31 A con- rolldsted kroup profit £12,737,078 (compared with £11,625,008) and net prot of £2.183.083 (£1.- 828,220).

Talgraphte traffic al 481 ailos

An words showed Increase of 25 milijon 5.6 per cent but the com-

pany's

traffic

radio telephone at 1,035.000

paid

minutes wan down some 65,000

In minutes; gains most areas were offset by J further decline in Hongkong-China traffic.- United Presa,

New York Sugar

Market

ONTE

31 48

12 04

32 (0)

12.86

33.65

31 40

31 48

At the etose, the lt,tied six pointa higher to OTA Jab tak lower: opened 10 lower to one lighter New Ortrans closet eight higher to reven lower.

I le aroush levela

afternoon arki

iTeded to move much either way

the rest of the day

There was

Truck und New Orleans buying reported in the curly Deinber and December contracts.

With the crop October out of

the way

Jacking.

and fresh trading slower

NEW ORLEANS

Pilers of futures closed today

as follows:

Spot

Futures closings, in pence per

ib, were as follows.

Old contract

Okt

Dec

加拿

May

July

Ort

LIVERPOOL

down

Det Nus

vensiderably

compared

with

Dee

Mor Aur

yesterday's most

#elve testunt

May June

New Pontiact

In qulet some time.

Certificated stocks: 5.437 -

July/Aug

Oct/Nov Vec. Jun Mar/Ap

Mon Ju

July/Aug

22882 88822 2

AMANA (MAER 2

32 RO

SAO PAULO

Futures closings, in cruzeiros

plunged.

Month

Volume Open interest

(34

Dec

42.CAM

Zaw Ma 339,0

evollan Kars

Nes Der

Mil

21.000

343,10

(8,400)

135,EN ME

July

1,000

120.00

Det

10,400

33,100

per kilo were as follows:

5.000

13.10

123 600 1.307,199 bales

NEW YORK

35,00

Dev

19 Do

Mur

39.40

May

37.00

July

37,20

JAC

Total

Prices of tulures closed long as follows

Ruot

Ort

34 2511

32 960

In Ühe US the average spot price was 32.90 cm, Sales totalled 19,022 buks, - United Press

PO BIELA

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENCER/FREIGHT SERVICE

Leaves London Dus Bungkong

Sailed

20th August

Outwards "CANTON"

"CORFU"

15th August

17th

"CABTEAQE” 12th September "CHUSAN"

16th

New York, Aug

No, 4 World

sugar futures closed today two to five points 24 lower with sajes of 27 contracts.

347

คน

นา

Dome the No. 6 sugar futures closed three points lower with bule of 35 contracts

$10 Selling in the domestle con- |

tract reflected

1:30

321,

Bedourestie

1.3

001

the increase

sugur yesterday's cases In the raw | market. World future: mel some proft-taking after resent 20% advances. Futures:

Contract No. 4 (world)

101

2236

60%

Septembe

; Delater

March

Szaly

Motorula Inr

Manigonery Ward

4231 | Septerabni

'A"

374

122

September

7917

November

8015 March

National Cash Reg. National Dairy Pruet

Motors Armed in the indus- trial 1, with Chrysler running up more than 1 on vapourta

concentrate next your ou Will its

low-priced Plymouth car.; National Loud Cult paced the oils with a guin ef almost 2. Soceny

Mobil, Halliburten and Midwest Oil all

ro e more than 1,

Prospects of good business ahead sent aircraft issues up

more than 3 in United Aircraft Than in Curtiss

000 23.200

300 23.10

Light (9) 20.70

Electric

500 21

1000

20.30

und m

Teloptione, 24.38 2478

700

30 23

300

24 70

Wright,

450

24.00

INDUSTRIALS Comment

351, 353.

B00 351 1000

381

down by realising.

Watson

COTTONS Texle...

11.00

4.45

3,70

0.30

Metals and stcel

National Steel Corp. New York Central Olin Mathieson Olin Elevators Owen-linols Clas Pacific Con & Elee. Pan American Airways

Spot cent per lh, fol tubaj

45 July

19 Spot

Contract No. 0

À 38 5.07

et NY exduty) 500 Í

-United Press

Heptember

October 20th September 27th October

Vis Southampton, Port Bald, Aden. Dombay, Colombo,

PEDADE & Singapot.

Hotnewarde

"CANTON"

"CORFU"

"CARTHAGE" "OHUSAN”

Vla Singapore,

Leaves Hongkong Duo London

26th

August 21st September

October

knot

let October

Penang.

Port Said

24th September

22nd October 19th November Fith November

Colombo, Bombay,

L London.

FREIGHT SERVICE

dus 11th Aug.

"SHILLONG"loads 18th Aug.

"ADEN"

"BUNDA" due 2001 Aust.

"SALSETTE” due 25th Aug.

load 11th Sept. "SUNDA"

"SOUDAN"

duo 14th Sept.

112

Paramount Pictures

Parke Davis Co.

ዕብ .

Penn J. C. Co,

Peat Salt Cu

Philip Morris

439

New York Foreign

Procter & Gamble Co.

Pittsburgh Plate Glan

ยา

recent

Publicker industries

Pure Ol

AUT

Radto Corporation

4335

321

"SANGOLA" due 10th Aug.

Balls lith Aug.

100% SAPA

England umetn

30-day futures

VD-day futures

"ORMARA"

2223 2.7731

2,70

.0350

2003

2010

market leaders, were hammered

Republic Steel

Reynolds Meul Royal Dutch Shell O Co.

Of 103 Issues Iraded, 40 STORES, ETC.

13.40 15.80 100 13.39 closed higher, 424 lower. Dairy

Now York Stock Exchange bond volume was $3;500,000.

American Stock Exchange volume was 1,200,000 shares,

Dow-Jones closing averages Standard Oil of NJ.

INVESTMENTS

Blue Chips have been favour-

uces planes A,

ed throughout the week.

No.

Land shares, helped by

the

Aug.

Yangiare

news about rent controls, fairly steady and HK Lands lost only fractionally on the

kept

Sept.

Oct.

2 Puber per ib.

week

Nirv

AUR" rubber mar 1.

10-10135 unquuled

[NG-07:

B%%-15%%%

02-03 1016-10135 79-01 123-125

were up $1% yesterday.

Land has declared an in- term of $1.75. Last year they $2 on a million shares. This pald year there are 1.3 million shares. The Interim is the same as lust year's final:

Despite yesterday afternoon's losses, sentinient appears better.

No. 4 rubber per lb.

Aug. Spot Tubber unhaled Alanket crepe No, 1 pole crope....

LONDON

Singapore

Stock Market

Singapore, Aug. 10. Brokers today quoted the fol-

But this is a vory tentative spot quoted at 30% pence, downlowing stock prices:

Assessment which may change during today's trading.

Surprising Recovery

In shores

were:

30 Industria

20 ralis

15 utiles

63 stocks

40 beads

Comm. tuturo price index Comm, spot price index Moody's Index

Closing Prices

Saint Reg Paper Sinclair Ou Bucony Mobiloil South Puerto Rico SUKAP Southern National One Southern hallway (Coin.) Standard Brands Standard Oil of Cal. Biandard Ol of Ind.

Steep lock (Toronto Exgci Sterling Drug Co.

528,04 Blakely-Van Camp. 170.08 Studebaker-Packard Comp

10.99 Swift & Ca. 183.67 Texas

co.

4.70 de Water Asm, Oil

Twenty Century Fox Film 189,3€ 163.20 Union Carbide...

Union Pacific Railway 439,80

talled Aircraft

11.8. Gymn

UB Line Co.

U.S. Rubber

US. Smelling

$11.8. Sleat

34 30

Warner Bros. Wewinghouse, Einctio

14% West Va. Pulp & Paper

Woolworth 45

50% Australia BAI

50%

Exchange

New York, Aug. 1.

2.70-11/32 2.7752 2.70-23/33

New Zealand

Africa

South Argentina India

123! Pakistan

4732 United Prera

The free market rate of the Japanese yen to the US dollar was 415-Unlled Presa.

from U.K.

Adea,

for Singapore, P. Swet- tenham. Aden, Havre. London, Hamburg, not terdam & Antwerp

from U.H.

from UK.

for Singapore, P. Swet- tenham. Aden, Haver, London Hanbury. Rpt- terdam & Antwer

from UK.

London Foreign Exchange

|Montreal

| Amsterdams

|| EXTARMONE

Copenhagen FrkInt Milan Blockholm Zurich

· London, Aug. 0.

2.781-2.78 5/10

3.73 M/18-4.73 7/10 10.0446-10,641 139.29-130.50 10.30-10.339 11.099-11,70 1740-174011

∙14.4014-24,4095 321745-12.18 „United Press,

BRITISH INDIA S.N. CO., LTD.

1858-A FUNDRED YEARS OF SERVICE - 1958

dne 12th Aug.

salis 15th Au

from Japan

for Singapore, Penang. Rangoon & Caloutte

from Jupani de Shanghai for Singapore, Penang, Rangoon, Calcutta Chittagong

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

"UMARIA"

"IKAUNA"

"URLANA”

In Port Rails 11th Aug.

due 12th AUK. salla 14th Aut.

due 23rd Aug. ails 24th Aug.

from Karachi

for Japan

from Japan for Sksgapore, · Bombay, Karachi, Basrall Khorramshahr & Kuwads

from Karachi & Bombay for Japan

EASTERN & AUSTRALIAN S.S. CO., LTD.

"ARAFURA” dan oth Sept.

"EASTERN" tondi dih, Bøpt.

from Australia

for Rabaul, Sandakan, Dribane, Sydney, Mel. bome. de Adelalde

„ All Tamsia hàvý liherty to call at any portą on

or off the route & the route à sailing szu wubjech to change or amendment with or withozi mottes,

For, full particulars apply to: MACKINNON. MACKENZIE & CO. OF HONG KONG LID. Telephone Nar: 27721-4.

[ New York

The

market wne

easy with

of a penny. Prices;

Opening

Sept.

Before discussing greater detall I would ev mention again that truly stir- prising recovery on Wednesday

Ddt/Dec. Jan/Mar. Apr/June

No. 1 Ras spot. 30-3014 Batu Lintang Rubber Co, Ltd. $1.00

Bottleineni house term:

British Borneo Petroleum 2016-301 Syndicate voeg 2916-20 Coneglidated. TIM

Afied Chemicals

Allied Millar Inc.

12/04

Allis Chalmere

Smelters

Amer. ♣ Foreign Power

July/Sept.

Aug. Bept.

Det.

Troms,

General markoja, cif basis, ports: cum pref. IRTIERE REA

Here is how some shares moved Estate crepe unquoted between Tuesday's close at p.m. and Wednesday at 10 a.m.-

Wheelocks, up 30 centa to $8.80, Providents.

Holais

20 cents to

$14.00. Lunds, up. 82 30 300. Por lograd, today us epilere taper Cold Stora

up 00 cents to

323.70,

The

market was - irregulor, peking Tin Ltd. Prices closed guilders

Iows: up 20 centa Lightr 90 cents to $23.40, No. 1 rubber

2 rubber Electrics up 31.35 to $30% o

rubber. Telephones, up 00 cents to 324.10, No. 1. crepe. Cements, up 60 confs to $84 and

Ord.. Fraser & Neave Lid; Ord. unquoted Fraser & Neave Ltd. 7ik7

29/-

Ainer. Can......

$1.00

Amatican Airline

2316

American Cable & Radio Corp.

$5.00

American Cyanamide Co.

2014-2015 Hongkong & Bhanghal Bank-.

Am. Mach. *» dry.

b144

28-2014

#103 x

American Metal

_ing Corp. 285%-20% Hongkong: Tin LAG.

6/34

AMSTERDAM

Kempna Libd. keng** Luna: Rubber, Babalew LAG. 0,75 Malayan Brewerien

$1.72

$2.02

New Berurah - Nubber

$2.77 1

3.10

$1.35

E1.40%

Bout Beitin komurance

Bethlehem Steel

$33.60

Ebeing Airplane

2,00 buyers Straits Tredia

$24,00

Borden (The) Co

3.50, buyers | atrain -BLATIN 2.75 buyers United Engineve: Ord. TIM

$19.48

3.TD-

2.00 buyers Weanne Beds,

$2.83

Case (3, 1).Co.

ited Press,

Cumully,Chitus, Mall Special;)

Aunerican-Smelling

American Tel & Tul

American Tub, "B" Abaconda Conner Arco Bes

Antipur

Baldwin-Lima-Ham.

Baltimore, &. Ohio...

Bendix, Aviation · Corp.: Benguet Cona.

Burroughs Add Machine

Canadian Pacino'. R.

Cal Tractor

Indonesia Wants

American Rice

Washington, Aug, 0.

* Indanosta, kas offeredt, to buy

Exchange Rates

60,000,000, bounds of milled rice : Busines, whi đoča, in from United States supplies unofficial rakeback marke Billunder à gurelius authorisation of Low follow sijh recently, issued to that, country, isiweling, notes (pen:21). 44 the US Department of Africüf- Austen las mold (we 21}" 15% Lure anounced today-Uizited indonewars rupiah (ner 100)

1956-08-10 — Page 9

Comments

Private Research Note