1956-08-24 — Page 9

TRADE

THE CHINA MAIL, FRIDAY, AUGUST 24, 1956..

and

SHARES CLOSE CLOSE

FORMOSA STRAIT

INCIDENT

UPSETS MARKET

By A SPECIAL CORRESPONDENT

It would have been a "no change" week on the Hongkong Stock Exchange this week but for the shooting down of an American Navy patrol plane in the Formosa Strait on Wednesday.

reached

The news

Hongkong yesterday morning and turned the market dull immediately. Buyers, who had been restrained pending an outcome of the Suez Canal talks in London, withdrew and turnover for the day amounted to only $880,000.

ned va

mate

Brokels marated irs 1 1 $24 20 Another share lo do A.S. this wirk Thonaggia!! well

WiF column last week limy

sluggish Walson's which jumperi 50 vents the market would be

reluctant to extend at the week to $12.08). I have not

aby

INR 15 far *pecial Jalest

Jut ris

ngular colurn

will this readers of recall that the share

werks sumbar Jump about six

The other shave higher on the

Londy WIN-k Hongkong

13

That is exactly penett.

what

Turnover stopped from

$4 14 1 63 31 million and prices moved fractionally wither

Way

ago

from fast week's closing rates

The folly for the week shown In the adjoloring 234-1

14 IN slightly

lower and thres higher

khares stouchy. Twelve

All Square

The market cloved

on Wednesday 1

Wi

Other factors do not

to have har

muel

appet

This Suez news cuht not be very much better, but that is not fo!

It is tity

The tho Крен Western powers have 15

42137- pusters for thew plan of inter. nadlemal

Ont, Dynaper*12 The port the Indianer 14247-

posals.

Exchange has

Legion Shiek received this week's news well

and has repeted

optimistically,

ekeing on a Brm note. Yurk

Jower.

New

bes been irregular and Partly this is the result of some depression over Surz, cause of fears but much more becsMINO of an inervase in bortos ng tates American T/T on the local gold market has any scar Jowly upwards. that this bas attractie! kate

Thats

R

Sti but i have set bend my p 239 is af this

Trams' Interim

That

An interesting. oppeared columns of the Morning

I

2

the +

اد....

#

11-

QIND the Cerrone bull now before Leg. Co

and shareholders' hopes that this- GATE will

through without

stantial amendment.

Banks Lower

There is tot much else in the Burket 15.inks

alghathy lower at $1835 arul t bar tursazinās.

Unions

miltongel are quaded at $1 Do

COMMERCE

SECTION

·Page

LOWER Wall Street Shows US BANK RATES

* The Share Market At A Glance ★

HK Bank Lombard

Provident

1K fotels

HK Lands Humphreya

12 Really UK Trams

9.10 90

428

14.608

บ

10

200+

Up or

July 25

1670xd

Aur 2 1070

Aug 0

Aur 16

1600

47%

48

478

1040

468

Aug 23 1035

down

44b

steady

Vaton

990

9850

095

1000ti

stendy

Underweile

8.86,

1.859

8.60h

8.8011

8.801

steady

Union W'box

23.006

28.30b

34

220

24.101

steady

Wheelocks

9.30

1.80

8.00

9.85

HK Whart

034

вя

88b

881

steady

IIK Duck

425

41

4141

teddy

16.70

13.20

14.10

16m

---100

15.80

15.40

15.30

15.10

-200

UD

។

0715

20.30n

20.20

20.20M

20

200

પ્રાપ્ત ક

1.525

1.475m

1.45

1.475

1.45

25

24.50

23.80

24.10

24.20

Star Ferry

142

1876

130n

130

138axd

Faumatis

114

112

109

111

109m

-

Ch Lights (0)

ZD

2K

28.50

23.40

24.20

Ch Lights

22.40

zz

21,20

21.00

23.00 21.30m

3214

314

3114

31

મ

25.80

20.20

23.10

20.00

370.

3814

35

36

70

.....250 --20c steady

Hairy Farm

16.70

18.30

15.50

10

15.00

12.70

12.40

11.80

12

12.60

+600

Lane Crawford

2946

29.40b

20.40

29.401

Yangtzer

7.500

6,800

0.75

4.70b

Allied

6.40%

5.35a

3,30m

6,20%

20.30m 0.006 61

steady

HK & FE Inv

11.40%

11.20m

11.40%

10.601xd

10.6011

Textile Corp Nanyang

4.65

4.49h

4.45x

4.40%

4.15b

1.70%

7,00%

7.60n

7.60n

7.60n

steady steady

Flectric

HK Telephous

et. Cement 0.1.

A.S. Watson

30 24.50

New York Cotton

Futures Active

Cotton

New York, Aug. 23.

moved irregularly

futures today

higher in moderately active dealings.

A

rally NIINArt opening attracted spurts of realising and bedge selling, but the setbacte Invited a resuroplium of buying mn toign late Beccunis

the 1

All deliveries from Murch

reached (1957) forward senzormi highs.

new

Wheelnek Mardens are frae Bonolly way

HK Wharf and #K Docks are both steady but Providents are slightly lower.

ນ

In

in the land

little Among Blue Chips, both ferry issues and all but Trunis in the utilites are lower.

arion, Hotels are

UT

There has been little move- meat either in cow rubber nuiter share prices

m: Thel

1. on:

A

121 Increas d

willet.

Terhalelures 324 sentiment pivoted

reduction further certilleated stock; 2.

Aroundings, an pointed up reporter of u pro ducer holding movement; 3. A belier that the million acreage into the soil bank will be put influential in reckoning ention supply next year.

London Stocks

Move Lower

London, Aug. 23. Traders turned pessimis- tic and nearly all sections of the London Stock Ex- in change closed lower quiet trading today.

+100 steady

-10c

10c

steady steady

WORLD

RUBBER

MARKETS

New York, Aug. 23. The No. 1 Ras rubber futures contract closed 35 to higher with sales

contracts.

БО

Best Gains

In Six Weeks

New York, Aug. 23.

Stocks, in an abrupt about-face today, swept aside the consideration which had sent the market down for six straight sessions, and scored their best gain since July 5.

Commentators said the Street had just about discounted the possibility of an therease in the discount tale-a lonk credit

which became rumoured move fnet after the ose when the Federn Reserve Board put up the rate from 2% to 3 per cent which icherges en loons to member

barries.

The boost was tean ny A move tendencies agolt: fallongry stemning from the wage-price spiral touched rft by the steel It followed on the industry. beels of increases earlier this week in the prime rate charged by commercial banks, the rates on commercial paper, brokers ioanty and banke's acceptances— a switch on the usual order of things

Steep Nock

22

Storlife Drug Co.

144%

Stokely-Van Comp. Studebakes-Packard Corp

12

Swift & Co

3x Cu

on Carulate

Union Pavide RailwaS

Etes Alverall

I. Oyu

tuber

US Smelting

4.5 Micel

Waner via, Westinghouse Electri

Word Va Pulp & Paper Woolworth

+0

--United Pros,

London Foreign

Exchange

Now Montreal AmsterdamI Lisbon

Miton

Paris

London. AuR

2:

Yurk

19 3a20mm 1/10

10.039-10.033

1741-1742

Nervera 24 reporting the

toward tighter trend

money #ave the market a three-session

Stockhola Just of mo than 4 billion Zurich before the list st

Others renewe demural today.

All groups participated in the advance, with best gains steels, metals, motors, oils, air- crafts, chemicals and specialties.

Individuals

Closing near the day's highs, intiividual Blocks were up A than 3 points

Industriais

F 05

group

today point to more points while of 53 averaged 4.72 higher, rails 0.03

higher. Only utilities dipped

ont down by

DY two

pullers

The standard contract closed | issues. 45 to 55 paints higher with sales of 5 contracts.

Rex contract closed 30 to 40 points higher with sales of 83 contracts.

Closing prices:

Trading was only moderate at 1,590,000 shares. The total of 1.088 Issues traded VOLA the smallest since last Nov. 11.

507 these,

were higher, 240 jower.

In steels, gains ranged close with 3 points in Lukens, Bethlehem. US Steel gained points.

2

In motors, Chryster gained nearly 2. and General Motors une point

10

No. 1 Rs.

Sepl. Dec.

30.00

.

34,00

Standard contract

Sept.

30,00

Lice.

33.85

Diary Of The Week

Liverpool mokrate buyers positions in the jerinoon.

brokers

British Governments and ol! the stocks were the principal casual-

thes. Governments and running to about £ were Consols and War Loan,

Mar

31.00

May

50.90

in

July

20.00

losses

28 0

Sept

in Old

Rex contract

Sept.

34.50

wprby

C'um- Oils retreated quietly all day lenders

Nov.

24.00

Jan

33.16

The

Mar

32.10

May

31.20

July

30,30

Sept

29.40

Fow

prico

عده

Here a diary of the work; linkarton house brokers bought on and Anished with

Off rings were inestly, mostly down around two shil- sonali balaner.

132) RDVC Royal Dutch Moglings. mavements supplied through becher 170 $180.000.

and technical realising following nearly £ and closed at £78.

Suez Canal eased about £1 fluctuations two tass of higher prices

RR hopes for a reasonable settle- T/O

of the Canal dispute

Industrial

Friday:

Monday:

Kont financial

Tuesday:

Pust 1st work 100) inte for my columnfi.

It was the news of Hongkong Trams' revises interim dividend. It announces a distribution of 80 cents a share. The announce- ment adds that although this anet increase of 25 represents centa compare with the 1955 intertin, it does not indicate that total distribution will be greater. The Increase is made solely to between in- disparity redveg terim and Anal payments. Last year the company

palet.

40 centy (less tax) und $1.25 (net), the previous year 40 centa and 51 30 (both less tax) and is 1953, 60 cents and $1,80. The company made a bonus issue of 1954 one for two In January, which increased issuet capital milion to $14.25 from $9.75

million.

Last year's dividends absorbed

leaving $4,080,000

more than $200,000 to be carried forvent 1 after the usual $800.000 appro. priation to general reserve,

Prk to the tenus kruc ki 1954, the polley appeared to be to lift the final by 10 cold o year so that it rose froin 3.60 $1.80 in In 1951 to

1053

Between 1951

Miner

either way. $770,000. Prices generally re- mained steady with a few lacking fractional T70: $910,000

tet Wednesday

Thursday:

on

going.

conditions.

Covering in Detober reflected i ment a further cut in the deliverable mixed.

The certificates stocis supply, totalled 3.472 bales, off 89 bates from the previous posting on Monday.

Producer Team impetumdanger T/O: $428,000.

for the weck ended Aut 17 Slight recession in

totalled 25,744 votes, making early dealings. Steacher

towards total of 31,092 balts to date, Bitte plus 6054.851, bales held unler

the cotton loan programmu.

noon

ant change in afternoon $380,000.

TODAY'S SHARE PRICES

Kenerally

Olis had gains of over a poin!

and Gulf

Royal Dutch, despite the Suez Canal problem Kert County added nearly 2 and Shell almost 2, the last on #food dividend news.

Some of the best gains came

in the non-ferrous metals where Alcoa,

U.S. Smelting added urowit 3 points.

The day's activity centred in

Gimn

The Armer trend reflected the such high-grade Issues as Guit

Jersey Standard, action at London, plus the un-Ol.

American Telephone, resaved Sucz situation and new Martin,

the General Motors. uncertainties Injected into

the New York Stock Market bond Formosa situation. Despite

local traders volume was $3,260,000. overseas picture,

Stock American remained uncertain “which way perke

were

erratic, with leading blue chips on the downside a few until a modest rally lified some Isues bear the close,

trac Gerar bonds dipped tonally and Japanese were ab- changed in a quiet foreign bond grmap.

copper firm. Ther

apel they around opening levels.

short's support closed

.10-0.15

0903-08045

14.40-14,41

72174-17.10

-United Pron.

unchan were

New York Foreign Exchange

Canada England ofticini

*

New York. Aug. 23

#1.01-31.3 1.70-0/18

- United Press.

P&O

L

RAISED

Washington, AllE. 33. Tho Feutral Reserve Board annidunord today tint for member banks wift all interest rates tomorrow in the night to curts ingationary tenden- cles.

Federal Restros district'

York, banics

New Philadelphia, Richmond, Virginia, and Chicago will ratve

rates from 234 per ens to three por cent the highest rates prevailing sino le "bank holiday" of 1934.

Ban

Two other district banke

Anneapoli and Francisco hav been the

three per cent rate

sinbo fast April.

The biler six banks aro expected to

fallow

the

leid vool,United Prebu.

NEW YORK METAL FUTURES

New York, Aug. 23, Prices of metal futures closed Today in cents per lb. as foi- Jow:

חיד

Lead

Aug Sept Aug.

10.000

15.000

90.00b

Sep

18.00%

Zane

Auk

13.07b

Sept

18.051

Copper Aug

37.400

Sept

31.400

United PreRA,

NAMESAKES

Anwers:- Royal, 2 Colches-

ter 3 Fiddlers, 4 Kingdom, 3 Pipe, Britain.

Court. 9 Soul.

Merry.

Old King Cole

7 Govern,

8

10 Bowl 11

OBIE&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Outwards

Lentes London Due Bongkon "CORFU"

Balled

17th September

"UARTHAGE" 13th September "CHUSAN”

"CANTON"

10th October

28th September

27th October

10th Claber

12th November

Yla Southampton, Port Said, Aden, Bonibay, Colambe, Penang Aingspore.

Leaves Hongkong Dee London

Homewards "CORFU" "CARTHAGE”

Exchange

"CHUSAN” "CANTON"

11 September 19th October

Alsi October

£2nd October

10th November

#7th November

1

*

Via Singapore,

Aden,

Closing Prices

to go" observere sald In view volume was 100,000 shares.

slow factory of the continued demand and the disappointing [cr July. consumptita figures

Rss was quoted Spot No nominally at 35% cene a pound,

SINGAPORE

some

The market tended to say on Dollar stocks showed a firmerslackening demand with trend in line with Wall Street-liquidation after a steady open-

ing Futures closings were:

Gold anet

the 'T/U

mpted

Month

Volume

Open interest

softdel

Out

11,000

254,000

11 500

382,000

Mar

10,000

180,700

May

10,500

123,300

July

03,000

: United Press.

Oct

1 700

22.000

Dec Total

74,400 1,337,400 balen

NEW YORK

(From Our Correspondent)

Business done or the Hong-

Stock kong

Exchange this morning amounted to proximately $160.000. Noom quelatione God the morning's transactions:

0,300

Prices of futures closed today as follows:

New York Sugar Market

New York, Aug. 23.

World No. 4 sugar futures to day closed 2 points lower to I point higher with males of 40 contracts.

The domestic No. 6 sugar futures alosed unchanged

point lower with sales of 188 contracts.

World No. 6 sugar futures today ruled quiet be traders awaited turther developments in the raw situation

وعی

No. 1 rubber per lb. Sept. 9714-97%

Dot, 87-971

No. 2 rubber per . Sept. 96-051 No. 3 No. 4

Nov, unqunted

124-944

915-02

07-174

7712-78

117-110

apot rutiber unbated Blanket crepe

No. I pate crepe

LONDON

The market was steady with

Alden Inc. Aey. Allied Chemicals

105

Alled Mitta Inc.

334

Allis Chalmers

34

Amar. & Fore Power

14

American Airline

American Cyenamide Co. American Metal

75%

American Smelling

American Tu

Tel

American Tub. "B"

Anaconda, Copper Armed Steel Armour

Baltimore & Onto Benguet Cona. Bethlehem Bleet

Borden (The) Co.

| Burroughs Add Machine

Canadian Pacifle R. [C.LT. Financial Corp. Chrysler Motors jak Cimax Molybdenum Colgate-Painolive Co. Commercial Credit

spot quoted at 20% pence per Commenwealth Eles. 16. Pricts:

Consolidated Edison Continental Oil of Del.

Crane Co.

Crown Zellestrach

Cuban Amer. Sugar Chamond Alkar

2732-28 Dupont de Nemours

276-271 Easteran Kodak 271-274122 Parg National Gas General marketu, cit mais, ports: Ford Motor

2014-28 General Electric August...

September

Spot

Oc!

34.49% 33,69

Dec

13.67

Mat

334R

5.1.{?

July

92,30

Ort.

91.7f

Inc

21.10

No. 1 spot

20+2014

ap-

NEW ORLEANS Prices of futures closed

Satement house term September

28-29

Oct/Dec. Jan/Mar

233/429

as follow.{:

Apr/June July/September

Spol

Buyer Sellers

Balta

32.78 33.42

Dee.

Mre.

30.45

00 2000 p!

MAY

33.11

July

Domestic

contracts dominated by evening-up opera tions in the September delvery where dealings expire tomorrow. {Futures

were

October

**** 44

tg

SHIPPING Wheelock

DOCKS, ETC. K. Wherr

ឆ

from

and last year distributions have risen rbeut 19 per cent of pret to

abcul

88 per cent.

And while

tirere ls & limit to the percont age of canings that can be paid out, the company's obvious palicy is to keep dividends High possible.

The company's proft has been moving up slowly and inst year

Abares

GOVT. LOANS 316 (104)

INSURANCES Lombard..

Dock ...... 40 4134

was $8,407,924. In 1951 it was LAND, ETC. $4,713,820. It Han

I Hotel. a healthy ink, Land general reserve standing at more Realty 1,4217 1.425 than $2 million and a develop- ment and obsolescence

standing at $1.2 million.

}

LIVERPOOL

Future closings, in pence per tb. were ng follows:

Det/Nov.

Old contract

10.107 18.30 0755 003

Dec/Jen

જળ 4

Mar/Apr.

May/June

July/Aug.

Now, comtract

Det./Nov.

Doo/Jan.

Mar/Apr.

May/June

restry

Amalg RUBBER Trus

UTILITYES Yaumati

Light (0) 23,00 24.10

1.423 1.56

1.00 1.070

10% 110

Solid Impression

C. Light (N) 21.30 21.09

In short, if profit continues at Telephone

Its prostát ráte the company,

could pay mote, und despite the

3032 3212

鮮雞8

(N) 23.70 2420

rather fursy safeguard they add INDUSTRI

to the dividend announcement Ger

stiere is at least one broker who | STORES,

in wapreling moro that a $1' fabl

The figures, quoted, alsova, glva that dame solid Unbesedlo NDO EUTTAMA, wazo ai tiem a spot on the work closing 10 coin, higher

100 24.10 Rgyptian Kamati Nov./Dec.

1000

21-40

Contract No. 4 (world)

Estate etape thin Aug. Estale crepe in Sept,

Estate crepe thick. Bept,

AMSTERDAM

281-20 28-2874

The markot was steady. Prices dosed today in guilders

Geral Foods

General Motors

Getty Oil....

Gilddan, Co.

Goodyear Tyve Heyden Chemical Ingersoll-Raudh

Ini

Irarvaatte

International Nickel

Tel Tol...

Kansas C. Power & Light

per kilogram, elf Sept, as fol-Kermecolt Copper ...

Sept. Oct.

3.28

1.3!

Mar

3.30

May July

3.30

lows:

Sept.

24.60

21.43

Spot-icente per lb, fcb

24.34

Cuba)

3.30

24.20

24.10

Contract No, t

No. 1 rubber No. 2 rubber No. 1-rubber No.1 creșa.

24.18

Sept:

74.00

Nov.

Mar

24.24

MAY

July.

NY ex-duty).

Future closings, its cruzeiros per kilo werd' dy follows: 5% October December March MAY

July

price wa totoliod

Epol-lemus per ib.

DET inited Press.

2.75 buyers

7.71 pald

3.00 buyers 3.40 nom.

„United Pros8.

LONDON METAL PRICKS

Lingeli Meyers Tab, Ce. Lockheed Alreraft.

Loews Incorp,

Lone Star Cement Co. Louisville" - 84. Nashville R. Minnesol Miding

Alesion Development Monsanto' Chemical, Cos Montgomery Ward National Cali Reg.

National Lead National Steel Corp. New York, Central Clin. Mathieson“ selgi Osia Elevators Lk31) Pacific Gas & Klee. London Aug. 28t

Part American', Attways Prior of metals closed todayParamoune Pilotures

Parke Davis Co. In sterling, per long ton is fol Pains in C. co.

Exchange Rates own

Milhem was done in the local Tin spot unofficial Exchange market thi 38.49 morning of the foldwing, ealestat

Salty Abviralian: notes (per 4329291-200 United Indonesian rupiali per 100), 19.50 zine and

Elam, test (per 100) - singapore: Straits).

27/0

miyère:soliğzı (Pittsburgh Phate Glasg

Ki Radio Corporation

Petandard.

14th November 11th Decentiet

Penang. Colombo, Port Bald & London. FREIGHT SERVICE

"SALSETTE" due 28th Aug.

load 11th Sept. "BUNDA"

"SOUDAN" dur 14th Sept.

"SINGAPORE" duo 20th Sept.

"SOMALI"

dae 19th Del.

Bombay.

from UK

for Singapore, P. Bwet- tenham, Aden, Bavre. London Hamburg. Rot. terdam Antwerp & Grangetriouth

from UK.

from UK.

from U.K.

BRITISH INDIA S.N. CO., LTD.

1858 - A HUNDRED YEARS OF SERVICE - 2050

"SANTHIA" duo 25th Aug. salis 20th Aug,

"SANTHIA” due 24th Sept.

sails 15th Sept.

from Calcutta To? Japan

from Jabart for Singapore, Penang. Rangoon & Caltınta

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

"URLANA”

dus 25th Aug. seils 20th Aug.

*TTAURA" dus 3rd Sept. wella 4th Sept. due 8th Sept. alle 10th Sept.

"UMARIA”

"ITRIA

dhe 0th Sept.

all 11th Sept.

from Karachi & Bombay for Japan

from Karachi tor Japan

from Japan Y

for Singapore Madras, Colombo,

Karachi, Basrah, Khorramshahr & Kuwait.

from Japan - Shoanghai for Singapore, Penang, Tuticorins & Bombay

EASTERN & AUSTRALIAN §.S. CO., LTD.

Leads 6th Sept.

for Labuan, Sandakan, Habout, ·Brisbane, Bydmy Malbourne

"ARÁFURA" due lith Bppl. feft" "Austestin.

All vessels have liberty tó catf'si'khy, potta' on or off the fonts & the route & tidy nie kúbjdet 9 to change of amendment with or without notice.

For full particulars apply to: MACKINAON, MACKENZIE & CO.

Q! HONG KONG LID. Telephone for: 27721 1