THE CHINA MAIL, FRIDAY, JANUARY 11, 1957.
TRADE and COMMERCE SECTION
Pige
PRICES EASE IN DULL MARKET WALL STREET London Stocks
Eden's Resignation
Causes Hesitancy
BANKS UP $40
By A SPECIAL CORRESPONDENT
-100
STOCKS UP IN
ALL SECTIONS
Gain With Macmillan
new
London, Jan. 10. New York, Jan. 10.
Stocks climbed on the. the market announcement of a Stocks rose in all sections us responded to a number öf favourable news items— Prime Minister with topped by President Eisenhower's State of the strength noted primarily
in oila. Union Message and appointment of Harold Mac- millan as British Prime Minister,
★ The Share Market
At A Glance ★
Up
Deo &
Deo 13
Deć zo
BK Bank
J
1500
1590
1590.
Jan 3 1630
Jan 10
down
1070
+$40
Lombard
401
- 40n
39
89n
steady
Union
905m
950
9551
050
900
Wheelock
*
0.00
7.10
7,30,
7.05
+$10 250
IK Whorf
$10
81m
91m
92b
92b
steady
HK Docks
45
45
4734
Авь
481
+250
Provident
13.70
13,80
13.00
13.70
13.60
HK Hotels
15
14.80
14.80b
15.10
14.90
-200
HK Lands
02
01
61b
02
0114
IIX Realty
1.375
1.375m
1.375
1.375m
1.40s
IK Trams
23.50
23.10
23.20
23.70
23.40
-500 steady -300
1410
140%
140n
14in
1428
steady
tos
103
103
102
24xd
23.60
23.60
29.30
--400
Electrio
32
Market hesitant nows of Eden's re- signation and prlega drifted fractionally lower. T/O: $700.- 000,
turned
HK Telephone
25.00
3136 24.70
---750
→ 24,40
30c
the
4.1. Cenient
38
39
38418
Dairy Farm
15.30
- 15.10
16.20
15.30
15.20
-100
A. Watson
13. 0
13.00n
13.10b
13.30b
13.40b
+100
Yangisze
5.83
0.200
5,90n
5.90b
En
+100
Rails had ndvance
Allied
1.05n
4.93m
4.90%
4.80
-100
HK & FE Inv
2011
109
9.300
1,600
0,10
+-200
ran to around
Textile Corp
4.40
4:40:1
4.40m
4.256
4,50%
steady
Nanyang
7.30m
7.35b
7.100x1
7
7.05
+00
point to 157.07 and the utilities
14 point to 69,56.
The rise
In dull conditions, largely caused by the onset of Chinese New Year, share prices on the Hong- kong Stock Exchange drifted downwards this week.
Turnover is up a little on the Yesterday:
million week from $2.01
to
$2.73 million.
The tally is seven higher, 12 lower and live steady against;
14 higher, five stendy and dvě | lower last week.
An
Eden's Resignation
interesting point thin
Wednesday: Quiet T/O; $600,-
000.
Tuesday:
week is that the resignation of the Prime Minister produced selling pressure,
Inooi! ... Mon-lay:
hardly
uny
though a hesitant
veloped.
Turnover yesterday morning | was $120,000 and the totid for the day only $700,000.
Brokers feel that any de- claive reaction will be shown in the movement of dollars against sterling overseas and so far this has been very sight.
The Prime Minister's resigna- tion loca not seem to involve any Government cells, though this may well occur Inter in the year.
However this ist of small concern to the Holling share market at the moment.
Chinese New Year
In
with New
the
the
share
Friday:
Dull and featureless with Crnctional
Jossey, T/O: 5430,- 000.
Quiet with prices. fractionally lower T/O: 405,000,
Quiet condition T/O: $317,000,
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
to
this []>-
mounted
$744,000. Noon and the morning's
Business done on the Hot meantime market business is conteneling kong Slock Exchange
of Chinese morning onsut Year, Early February proximately may see a slight revival with quotationa Interim dividend announcement.
Ironsactions; Before commenting
Shares Ruyers Bellers number of individual shares, here is an authoritative necount BANKS of the week's trading supplied by an Ice House Street observer;
on
"The more cheerful outlook ¦ which opened the New Year short- no apparent
was, unfortunately,
lived and for
renson, beyond possibly The
HK Bank INSURANCÊS Upton
Bales
1606
33 5 1600
005
SHIPPING Wheelock
(0)
INI
DOCKS, ETC.
Whurr.
7.03 720 1000
Jou 0.63
12
7.05
Dock
PROV
13.00
HK Hotel
.14.00 15 1300
15
01
300 01
Really
13316 1.376 10,000
435
1,00
1.50 600 1.70
approach sif Chinese New | LAND, ETC. Year.
"The Stock Market reverted to a duli state with pries Inclined to drift fractionally lower except for Hongkong Banks and Unions which both advanced under fresh enquiry.
"Most other scetions have been. qulet although Dairy Farms Electrics and 11K Lands were moderately active earlier in the week,
"Losses have mainly been small and the hesitant
news of
rt- 11
action to the resignation of the Frime Minister, Sir Anthony Eden, on the closing day of the period under review, 11}}- doubtedly subdued the ket further,
mar
"Business has consequently been on a light scale with the overall turnover only amount- ting to $2,732,000.”
Banks Gain $40
Looking breit to inst
notice
1
week's
HS Land
HUMBER
Analg. *Trusi UTILITIES
Star
Ferry Yaumati
Ch Lights
313
24.50m 38148
S
New York Cotton
Futures On
Slight Upgrade
New York, Jan. 10.
Limited hedge selling and a routine trade demand combined today to keep cotton prices on
a slight upgrade.
Mili and exporter, buying braced the nearby markets, with moderate galna proving sufficient
tu
If the May contract to a new seasonal high, and the best level slacé early last October.
At the close the list ruled up 8 to 13 points. The market opened unchanged to up 4 points. New Oricans closed up 9' to 11 points
Firmness as new crop months primarily reflected the lack of
and tuggressive selling
noderate scattered
#
demind,
Beach Sands Yield Iron Ore
New York, Jan. 10, Agreements have been 7.10 Seller cautiousness reflected completed between com- 40 expectations for a higher Januarypanies of four nations to support base, which would gure mine and market iron and
the determination
the Government Interim loan rate other ores from a large de- posit of beach sands in eastern Quebec, Canadu. This was announced here
of
103
23.70 314 24,70%
-260
WORLD
RUBBER
MARKETS
Tex
New York, Jan, 10. The
contract rubber futures contract today closed 25 to 55 points higher with sales of 180 contracts.
January March.
May
July
September
November
Jarnaazy
34.50 34.30-34
33,75
34.34
32.90
3740 32.00
Standart contract closed 25 to 40 points higher with no sales reported.
March
May
July...
September
November
Jamsary
Terminal
market
There were gains ranging around 2 points in numerous groups
with enough of the leading issues up to lift the in- dustrial average 2.30 points 10 408.51.
an even better percentagewise
Al-
Olia Elevators
Owen-lanola Gus
Pacific Gas & Elec. Pan American Airways Paramount Pictures
Parke Davis Ca, Peony J. C. Co. Panni Salt Op. Plalip More
Procter & Gamble Co. Pure C..
Radio Corporation Repubile Steel
though individually their gains Shell Out Co.
a point at the
cutside. The ralls were up .87
came on increased
Saint Reg. Paper Sinclair Oil
Bocny Mobifoli
South Puerto Rico Sugar Southern National Cas Southern Tadiwas (Com.) steep Rock (Torontoer.)
Standard Brande
nctivity with turnover totalllug 2,470,000 shares, 140,000 shares-Standard Oil of Ind.
ahead of Wednesday.
Standard Oil of Cal
Standard oil of NJ. Stokely-Van Camp,
Concensus of the Macmillan appointment was that the move openca the way toward restoring US-Brish relations to the prb Suez harmony, believed to have been strained since Eden's de cision-kept secret from the US
to join France in the Invasion. Gypsum of Egypt.
| Studebaker-Packard Corp.
Texas Co. Swift & Co.
་
Favourable
The market community con- strued the President's message as favourable, including his re commendation · that Congress undertake a "broad national in- quiry" into the entire American financial system,
Individual
Issues responded to news items affecting them. The
sugars continued in demand, reflecting tho current world boom in sugars which has been boosting prices.
Sugar American
Regning, sentiment South Porto Rico and Vertientes
34.25
32.06
33.25
32.80
32.33
31,00
was influenced by the steadier Camaguey all rose a point or London close and the unex-more, the last in the day's most
light volume hedge active turnover.
Sellers
287
1%
to
also paused Chrysler ran up study
of President $60% in the
the motors 05 Its Eisenhower'a message to Con- President said it is aiming for gress and further developments 20 cent of the US auto in Britain's political situation.
this year,
compared Intra-dealer switching was with 10.3 per cent in 1956. another feature. March and May · of a total 1,178 issues traded, contracts were exchanged for 029
werd
lower, 252 higher, physical rubber.
unchanged with 33 at new highs, D at new lows. Factory business in the de-
New York Stock Exchange very market continued small and volume was $4,400,000, but dealers detected evidence of
American Stock Exchange a consumer interest President Eisenhower, in his
at prices the current market volume was 1,000,000 shares. message to Congress, said he will
under 1,470 recommend additional farm at a press conference by Brokers understood some "sub-
Dow-Jones closing averages stantial" 100% 1.70 segislation in his budget message an official of the Acomic by Malayan, Indo-China overnight bids were 23.00 23.64 1400 23.40 next weck, pending that Mining Corporation, Mon-
Saigon sellers. Locally, and Congressional cotreal which holds a mining Spot No. 1 R was quoted t sideration of new legislation,
34% cents. licence for the deposit. sellers veered to the sidelines,
140
W
2340
100 Star Ferry.
142 200 મા 10 Yau!
10% 143 1000 2.4 (0) 23.40 23.50 100 4 2330 2450 42.40 Electric Telephone
31 31 1000 & 3114
(0) 241 24.70 2000 2415 50024.00 20023-40 500, 23.00
(N) 23.60 23.80
INDUSTRIALS Cement...
Hope STORES, ETC.
Dairy Watson COTTONS
for the new crop.
vent
of 241,830 bales
He said the other companies were the Klockner-
and
›
SINGAPORE
were
Producer loan entries for the
The market opened lower in weck ended January 4 totalled | involved
combine DI 125.500
bales compared with Humboldt-Deutz
Germany: Ferguson sympathy with overseas. Selling 120,514 bales impounded for the Dulsberg,
weak holders
well After Wild Company of London and by Same period last year.
absorbed and there was a good allowing for total withdrawals Frank Samuels and Company of
interest for lower sheets. Futures: the net stock the US. collun totalled
The principal agreement is
No. 1 rubber per ib, Feb. with Klockner who will build a $10 million separation and con- No. 2 rubber ner lb. Feb.
No. 3 centrating unit at Natashquan No. 4
of the St
Spot rubber unbaled near the
Blanket crepe Lawrence River, to produce at least a million tons of fron ore The unit concentrate a year. will be completed in 1950.
et 1956 crop 15-20 | 3.079,400 bales.
30 38% 100
200
39.60
305
.13 13.30
ia.10 15.30 3000
13.40
7.10
4.00
Nunyany INVESTMENTS Atual
Singapore
Stock Market
Singapore, Jan. 11. that Bouks Brokers today quoted register were only following stock priers:
This week they are 43 higher The rise of $40 is
market
London
£944.
therefore
The certilleated Block held at 3.037 bales,
Month
Marchi
May July
Oct,
Dec. March
Moy Total
•
Volume Open interest
13,800 200,300 415.000
13.500 7,060
169,400
4,600 143,600
101,300
100 31,000
100 15,400
43,000 1,154,200 bales
NEW YORK
mouth
Klockner will
No. I pale crepe
Mar
were:
30 industrials
20 raile
405.51
18 utilities
ta.co
05 atocks
174.08
19 bonds....
Comm. future price index..
102.09
Comm, spot price index
Moody's "index
Closing Prices
Alle Inc. Acy,
Allied Chemicals Ailled Mills Inc.
Allis Chalmers
American Airline
American Cable & Radio Curp. American Cyanamide Co.
D414-0814 30%-071% 031-0714 0314-0434 8315-0013 30034-10034
40.81 110-113
Am. Mach. & Fdry.
American Motni
United Press.
Buy 750,000 New York Sugar
tons of the yearly output at $7.471⁄2 ton fob Natashqunn. Of this, 207,000 tons a year for
Prices of futures closed today five years will go to the
the
as follows Spot March
14652
14.45
May
HA
Opening
July
34.05
Byndicate Consolidated Tin
ahu Lintang Rubber Co. Ltd. $1.80
81/- 29/34
October
33.39
December Morch
34,35
33.32
May
32
Smelters
NEW ORLEANS
due to Brilh Borneo Petroleum the London
obviously better mtes an Stock Exchange.
Unions are $10 belter, London they are quoted at
£58, the same as last week,
cum.
Ord. Fraser Neave Lid. Ord. ... in Fraser & Neave m
$4.00 prof. Gannon Malaya), Limited 12.05 Hongkong & Shanghdi Banking
LOGO 6/00
Blue Chips would have been down on the week without the hewn of the. Prime Minister's restation, but yesterday after- noona
Jose in Electries and Telephones brought this section Allthily, lower. Trams
Anish the. Week
down 30 cents at 23.40 Lights are down 40 cents to $29.30. Electrics finish 75 cents lower at $31 and Tele- phones are 30 cents lower at $24.40.
In the wharf scelton, HK Wharves are steady on a buyers' quote of $92, Docks Dre fractionally higher at $48 and. Providents are 10 cents lower at $13.00.
MO...
--Elsewhere
Į
there are
Hongkong Tin Ltd.
Corp. Kempas Ltd.
$1.40
July
October
December
March
$3,20
May
$340
$2.10
$1,00
Lunan Itubber Estates Lid. 0,00 Malayan Breweries baraka $2.90 New Berandal Rubber Co. › Ltd. refoling Tin Lid." Raifice Hotel Bgapore Cold Storage South British Insurance Co.
Lut. Biraita Trading
Steamship United Bgineers Ord
Wearne Bros.....
• xei-China Mail Special.
$32.50
$3.00
34,34
34.46
2125
3430
3030
་
* LIVERPOOL
Future closings, in pence per
German Compuny as repayment of 80 per cent of the cost of the while the concentrating unit, remainder of the shipments will
be paid for in cash.
He
SAME PRICE
Market
New York, Jan. 10. World No, 4 sugar futures to day closed unchanged to 25 points higher with sales or 1,224
Amer. & Forga. Power
American smelti
Am. Sugar Ref. American Tel. & American Tob. "D" Anaconda Copper Annour weken. Atlas Cons Haw-LMFA Baltimore & Ohio Bendix Aviation Col Benguet Cons Bethlehem
Stoni
Boeing Airplane Borden (The) Co Burroughs Add Machine Canadian Pacific R. Case (5. 1. Co.
contracts.
Cat. Tractor Domestic No. 6 sugar futures Celance Corp. closed 4 points higher to 2 C. I. T. Financial Corp.
Chrysler Motor ..... points with sales of 513 Con- Climax Molybdenum tracts.
Colgate-Palgollve Co. The rise to seasonal lighs of Commercial Credit
Commonwealth Elec. world the
reflected Consolidated Edison futurés broadscale commission house Continental Oil of Dei. buying #ted aliort covering Crane Co. ******
Crown Zellerbach promised by strength in the raw orc market,
The official said that the balance of the total yearly out- Prices of futures closed today put had been contracted for by as follows:
the other two companies at the Spot
same price. March May
mid that the Iron would be 05 to 70 per ferrous
with magnellte maximian
cent of 3.3 per Litanium oxide, Reserves in the beach Sándo deposit were estimated to be between 15,000 tons with and 18,000 million cach 25 tons producing one toh of iron ore concentrate plus, n large quantity of by-products monite garnet and zirconium.
The official added: "Possibly this Is the cheapest from orp mining prabortion in the world, the of principally because elimination of ore-crushing and the care of transportation." -- China Mail Special.. -
75 lb. were as follows:
$15.70 $9.50
London Foreign
Exchange
gains, and loses requiring Ro State ..
Lorion, Jan. 10.
Old contract
Mar/Apr.
May/June
July/Aug. Oct/Nov. Dec/Jan New contract
Mar/Apr. May/June July/Aug. Oct/Nov
Dec Ján,
Egyptian Harriak
Jan./Feb.
1
20.00-03
20.10
20,31
28.70
20.50
23.40
20.15
25.90
€0.00
SAO PAULO
2.79-0/10-2.70160
Futures closings, in cruzeiros 2.08-11/10-260-13/10 per do were as follows. 10.6592-1035JA 140.333-14027M
Wheelocks which, added 20 cents over the holiday period, Closing rates wer"; lomt 25 cents last week.
New-York small Montreal
Amaierdam
Copenhagen Milan Onl Farkt Binckholm Zurich
QUINS were Prom.
speciál cornment.
Diary Of The Week
Hero is a diary of the week's
eventas
10.ANL-105SY, 1700-170934
005-905%
July
Doc.
43.00
unquoted
Cuban Amer. Sugar Diamond Alkali Dow Chemicala Dupont de Nemours
El Paso National Qas Eria Rallroad
Family Finance Corp.
Ford Motor
General Electric
General Foods
General Motors Gen, Pub, Ual. Glidden Co.
cent
a
Contract No. 4 (world)
Marchi May Jul Sep. March May
pot-(bents per ib, fob Cuba)
0.02 0.00-81
501
4.03
4.80
*8.08
Contract No. 6 (domesite)
Marchi MAY
5.93
...........!
8.00
Spot-(pente per 16, cit NY
ex-duty),
Int'l Burinend Machines Int'l Harvestami
International: Nickel
4,00
Press
Exchange Rates
مدة
Goodrich (B. F.) Co. Goodyear Tire ......... Beyden Newport Corp. Homsluice Mining Co. Ingersoll-Rand
Inland Steci,Co,
International Paper
Int'l Tel & Tai John-Manville Co.
Katana C. Power & Light Kennetost Copper ...
New York Foreign Move ob
Exchange
New York, Jan limt-Closing rates were:
Calleda England afteini
intre song tape to the local nonicial
caftangan, niarks morning, at the, mellowing
In the US the average spotsterium "nolow (per £!) prlog was unavailable. Sales Australian notes (per, 4.1
United Inloesian rupiah : (det 106): unchanged,--Vailed totalled 36,220
14,49-2449|4 12.30-18.2612
Prose.
'Blum tical (pHC 100}
Singapore. (itemi!m}}
po-day
Australia Now Zealand South Africa
10.
1.70/15
futuren
Lockheed Aircraft Loews Incorp
Lone Star Cerhebt Co. Leulaville & Naswville' Lowerintein & Bons. Men Iron Corp. Mangarita Chemical "Montgimisery Ward
Motorois Fre
3.77-27/821onal Cas" from A
Nallon) Dairy Prod,, Nations Lesd
United Press,
National Itevi, korp. New York Central Olla, Machi
Tide Water Ann, Oil, Twenty Century Fox Flim Union Carbide Union Pacine Raitway United Aircraft US, Felt B
US. Line Co. US. Rubber
U.5. Smelting
U.S. Steel.... Warner Bros. Westinghouse Electrie Wont Va. Pulp & Paper
*
News that Charicellor of the Exchequer Harold Macmillan had succeeded Sir Anthony Exich struck a reassuring note In stocks that had been erratle all 18% day.
414
01
Bitish Petroleum, which had opened weak at 131 shillings closed at 138 shillings with buy- ing still going on after hours, Others in the group-including 24 Royal Dutch, Burmah
and
Anglo-Enyban had gains ranging to three shillings
close
Other industrials managed to elther unchanged or a few pence lower.
British
Governments WETO the
24orralle until just before
Iss was
close when they rose by £ dis to £. Among bonds strength,
noted in German and Japanese lens. Dollar bonda ail mixed-United Press. 3011
4011
44
70
40
-United Prem
NAMESAKES
Answers-1 Peace, 2 Shell, 3 Conference, 4 Prizes, 3 Ro search, 6 Sweden, 7 Engineer, 8 Explosives, 9 Laboratory, 10 Science, 11 Literature.
Alfred Nobel (Explosives manufacturer
and donator the Nobel Prizes).
P.OBIE.A
COMPANIES
PENINSULAR & ORIENTAL S.N. Co.
PASSENGER/FREIGHT SERVICE
Outwards
"CHUSAN"
"CANTON"
"CORFU"
"CHCBAN"
Leaves London
Selfed 12th January. Join February
5th Apri
Duo Hongkons 2nd FebrussT
2nd February
both March
Via Southampton, Colombo, Penang & Einfäybio.
Homewards
"UHUSAN”
"CANTON"
"CORFU "CHUSAN”
Leaves Hongkook uni tänden
18th Februscy
26th February
3rd April 12th May.
Via slogapore,
Mh April
12th MAS
12th June à colomba
FREIGHT SERVICE
"SHILLONG"due 11th Jan. due 18th Jan.
"SUNDA" ,"BUİLLONG” joads 21st Jan.
1st Feb.
"BAÏMÁBA” dus 30th Jan Loads 11th Feb. "BUNDA"
"SOUDAN"
que 2nd Mar..
from UK
From U..
for Buoribord, Þ. ÿ- tenham, Havre, Ladun Hairbund. Antwerp
mouth
liben U.R
Rotterdam,
fak Singapore. P. Swet tenham, Havre, London, Antwerp mouth
from UK.
على
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Orange
All veisels OUTWARDS AND HOMEWARDS WILL PROCEED, BY, TÜR CARE OF GOOD HOTE UNTIL YURTHER NOTICE.
BRITISH INDIA SN. CO., LTD. 1830 - A HUNDRED YEARS OF SERVICE
"SANTHIA" de jeth Jan. saili 15th Jan.
"WARORA” dus sith Jan
Salla 28th Jan.
"BANTHIA" due 4th Feb.
antis Bus Feb.
froth Calcutta, Razzöbli & Straith for Japan
from Japa
101. BLOKADOSE, PARĀDE. Rangoon, Chittagona Calcutta
from Japa
for Bingapore. Penang, Rangoon & Calcutta
P. & O./B. I. JOINT SERVICE ORLANA" due 12th Ja
"ÍTRIA"
“ITÄURÀ”
due 25th Jan. walls 27th J
due 20th Jan.
Sumida sist Jedi.
Prom Bombay & 70rái! jer Japan
from Japan for Singapore, Cochiti, Bombay, Karachi, Baki rah di Kuwait
from Japan
fer Bombay, Karachi & Daurah
EASTERN & AUSTRALIAN s.5. CO., LTD.
P
“ARAFURA” dõe 12th Jan "ARAFURA”·Salla ·gth Feli
from Austral
for Sundh," nabaul, Brisbane, Bydney, Mel- bourne &. Adelaide
+
Al vessia hata udatty to call me any hart on or off the route, the roule à vilitos are duplici to change or amendmmins with or withoui matisë,
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