THE CHINA MAIL, FRIDAY, FEBRUARY 8, 1957.
TRADE and COMMERCE SECTION
SHARES TACK ON GAINS
Slack Conditions Over New Year
HK WHARVES
DEMAND
By A SPECIAL CORRESPONDENT
★ The Share Market
NK Bank Lombard
TIK Holtis
HK Lands
23.70 141n
23.40 1425
At A Glance ★
|
WORLD BANK Old Cotton Months RATES Reflect Firmness
London, Feb. 7,
The British bank rato was lowered today from B3⁄41⁄2 per cent to 5 per cent. The following table, shows the rates in other countries: PER CENT
New York, Feb. 7.
Quiet dealings in cotton futures today again reflected firmness in old crop months.
1,000 31.500
2,209 76,200
02,400 1,0:1,700 bales
NEW YORK
Prices of futures closed today
Up or
Jan 3 1030
Jan 10
1070
394
391⁄4h
Union
250
900
Jan 17 1640
37141 96734
Jan 24 1015
Feb 7
down
10000
-$15
37149
38m
steady
03734n
95214
---$5
Austria
5
IN
Wheelock
7.30
7.05
7.20
6.75xd
4.70
steady
HK Wharf
926
82b
93
93b
0714
+34
Belgium
Gains up to around $1 n baie May lifted nearby March to seasonal highs, carrying it to the 33
July
Total
Canada
2.05
HK Ducka
4Bb
4814
€13
45xb
cent line,
+250
Denmark
Provident
13.70
13,60
13.30b
13.20
13.40m
++800
614
15.10
14.00
14.000
10
10.20
+200
Finland
คน
Proft-taking and
France
62
01%
1.376mm
1.40
በ።
1.326b
42
01
-$1
1.3256
1.80b
+7540
Netherlands
hedging ot the close whittled extreme gains but the list still closed net
as follows;
23.40
143
23.20 143
28.50
+-30c
India
3%
1468
Italy
102
Norway
31
103
103
104
+$1
23.20
23.30
23.30
23.10
200
31
3114
31
314
+25
Portugal
2 to 22 points higher, Opening | Spot
Marci prices were up to off 3 points.
May New Orleans closed up 2 to 22 July points.
October December
24
24.70
34.40
24.00
24.30
24.00
+300
8. Africa
39
3831
38
3834
384
250
Spain
*
Swedon
16.30
18.20
15.40
15.40
15,90
+500
13.30b
13.40b
13.600
13.70b
13.00
steady
Switzerlami
6.90b
On
On
En
6.10n
+100
4,90B
4.80
4,850
4.8511
4.85h
steady
0.00b
9,80
9.80n
1.70b
9.756
+Bo
4.2Bb
4.50m
4.40m
4.40n
4.70
+30c
7
7.05
7.15b
7.00b
8.35
+75c
Despite the generally slack conditions before and after the Chinese New Year holidays share prices show a net gain in the fortnight since this column last appeared.
Turnover is down from $2.73 million in the week before the holiday to roughly $2.5 million this week (a three and a half-day period).
Thus tolly is 14 up, five steady | higher, with China Lights, 20 and nve lower against 14 cents lower, steady, Ave higher ant Ave lower.
Star Ferry announced`n $5.50 final dividend, the sune a- last yenr. However, Inst year the company also pald → $2 enshi bonus and looking back through the fles I see this, together with the onset of the Interim dividend wenson, leiggered off a buying wave which persisted for three weeks.
NEW HIGH
Wheef shares have done well j over the holiday period.
Elsewhere, apart from a 50 conts rise by Dairy Farm, there are tractional gains and losses which do not call for speelal conument
The prospects appear a little better this week. With Chinese New Year over and the interims coming on brokers may have a Bttle more operating
keener scope and investors a Interest in proceedings in House Street,
DISAPPOINTING
icu
Here is በዛ authoritative Ducks have paid their $5 | account of this weck's market benus, and
Street are now selling at from an Ice House
$45, which un a cum-bonus | observer; basis is now high.
Wharven have climbed up $4 to $07% under the stimulus of
new buying pressure. that
this is
the
A
I learn continuation Jf one-man cornering operation mentioned in this column some time ago.
i also learn that scrip is getting short and this is the reason for this week's increase,
Another wharf share China Provident has also moved up, though only by 20 cents.
COTTONS HIGHER
Both textile companies are
well, doing
have Nanyangs tacked on 70 cents to $0.35 and Trylle Corporation, 30 eruts to $4.70, I understand that most Colomy foxtile concerns in the are doing well and that it a number a
books ense order
ere filled up to September.
i though the news that the "complete failure" of the Britbh Collon miedon to induce Hang- kong textile men Jo rerture voluntarily exports to fritam might have had
something to do with this rise, but share brokers do not think BO
land
Nanyang's
Sale WAN probably a factor in this share's rise, however,
BLUE CHIPS UP
Bunks
are weaker
buyers and
$1,000
I see that London another
registers are down
IK Really HK Trams Star Ferry Yaumatis Ch Lights Electrica
UK Telephone GL. Cemest
Dairy Farm A. Watson
Fanglaze Ailled
NK & FE Inv Textile Corp Nanyang
HONGKONG
STOCK
EXCHANGE
103"
23.70
3136
steady
+bve
WALL STREET
RISE SPARKED
BY SUGAR
New York, Feb. 7.
(From Our Correspondent)
Business done on the Hong-sparked another rise in stocks today. kung Stock Exchange marting founted
A gain of 5 points in American Sugar Refining
$587,000, proximately "The Stock Market appeared to make qalte
a promising quotations and
vransactions: start
when trading WAK
Bhares resumed on Monday after the
BANKS Chinese
Year holidays IX Bunk
New in that the turnover exoceded $1.000.000 for the day. It WAR
therefore disappointing to And that the familiar dull conditions re- turned the very next day and remained until near the close. "The total turnover amounted to only $2.500.000 that but it should be noted one day's trading was lost on account of the holiday".
laye "Prices generally shown little change exopt in cottons where Nanyangs and
have tucked Textiles usefal ruins оп satisfactory ́orders,
Wharves have shown good improvement and advanced from $94 to $971⁄2-
"Elsewhere there is nothing
of note to report."
SIPPING Wheelock
!K Land
Humphreys
RUBBER
Goins of a point or were numerous, as the market cxtended yesterday's rully.
1000 2 8.3o 2000 på 0,75 10004 0.00
400 08 200
with Bethlehern, Republic and US Steel all gaining small frac- tions.
Du Pont Jumped a point in the chemicals and Allied n small fraction,
High priced Superior Ol of California run up 10 points to 45% $1,305. Geity Oil rose 1. Fractional gains appeared la 15:20 1700 6 1020 Texus Co., Standard Oli (New 12000114 Jersey), and Standard Oll of
California 1000 18.30
2080 1920
Philip Morris
Puro O
Radio Corporatio Republic Strel
Reynolds Metal
Socony Mobiloji'
W
Pakistan
W. Germmay United
States (NY) 3 -Renter.
WORLD RUBBER MARKETS
New York, Feb. 8. The rex contract closed un- changed to 20 points lower with sales of 198 contracts.
March
May
July
September
November January
September
from
the
30.30
ger द
29.20
29.08
28.05
28.09
then
Routine domestic mill, expor-Mach ters and commission house buy, July ing found offerings limited, pointing up reports of a tighten. ing situation in the supply of free cotton because of the loan rate.
time in
crop news
39.30-23
54.81
3347-50
33.51
33.5
LIVERPOOL
lb. were as follows:
Futures closings, in penca per
Old contract
Mar/Apr.
That
May/June
July/Aug
Oct/Nov.
Dec/Jan.
New contract
Mar/Apr.
May/Juno
July/Aug.
Oct/Nov.
Doc/Jan,
Now crop months lagged. Traders marked sector pending
and awaiting the Government an- nouncement on the Interim loan rate for the new crop.
The Commodity Credit
Cor- poration reported
Joan entries
for the week totalled 01,905 bales. Repossessions of 45,919 bales for the week left the ne
stock of 1058-57 completion under loan at 4,000,200 bales,
Open March contracts totalled 151,600 bales. The certificated stock remained at 2.026 bales.
Month
Vokime Open Interest
40,500
Egyptian Karnak, Jan./Feb.
SAO PAULO
20.30
25.90
28,63
23.20-21
25.00
Futures closings, in cruzelros per kilo were as follows:
May July
October December
34.30
38.33
38.43
In the US the average price of one-tach cotton at 14 designated
spot markets: 33.12 cents.
Total sales at thego market 23.045 bales.-United Press.
The market was rather mixed
of mid-day, falling around
highs, steadied again under day trader covering. Initial strength re- flected higher foreign markets plus u scarcity of shipment offerings, and more consumer 311 interests.
Spot No. 1 Ras was quoted at 304 cents a pound,
The market
ruled quietly ready throughout most of the 53% morning and once reaching t
the 80-cent level on
169; covering.
In the afternoon the market fluctuated wildly and steadied near the close. Futures:
POBIE
B-I E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards "CANTON" "CORFU” *CHUBAN**
"CANTON"
Leaves London
Selled 10th FebruaŁTY
5th April
21st April·
Via Boulhampton, Colomby, Penang à singapore,
Homewards
Leaves Hongkong Due London
SINGAPORE
200
March
12,400 161.300
20.23 May
21,000
383,800
29.06 July
10,400
148,300
March.
228.04
Oct. 28.05 Dec
10,100
147.00
200
1:14,000
Mnr.
1,000
this
Standard rubber futures closed unchanged to 20 points kwer with no sales reported.
to при Noon the morning's
Buyer Sellera Kla
mrc
National Lead
10692
National Steel Corp. New York Central
March
30.10
3041
May
04
Olla Mathieson
44%
July
20.50
O Mevators
41
100d
►
17 181
1010
its
Reynolds Metals
group
rose 1% Steels were firm
12
Owen-linols Class
50
November
'actfic Gas & Eloc
€914
January
Pan American Airways
101
Marchi,
35 01:003
Paramount Pictures
30
Parko Devia
East Asia
INSURANCES
204
Penny J. C. Co.
1715
Penn, Solt Co.
loo
15214
0.75
B.EO
Procter & Gamble Co,
42L 4019
cem
Pittsburgh Plate Gle
77
Publicker
Industries
DOCKS, ETC."
s shirt
Dock, XI
JTOV. (0) 13,30 LAND, ETC. Itic Flute 15.10
Bell Oil Co.
Blaint teu. Paper Sinclair O
..
101
18.30 18 70
Realty...... 140
145 2300 ( 15214
23.30 219
100 100 21.10 23.20
225 2115
000 4 21.20
372 23.10 2734 31
331 314
a bit mixed.
Curtiss-Wright, Lockheed, and American firmed in the VOTLI 1.35 North
aircrafts.
inched Chrysler higher in the motors.
firmed Tobacco carning repor.. Ralls
Reynolds
on
a good
Standard Brands Standard Oil of Ca Standard Oil of Indi
South Puerto Rico Sugar Southern National Gas Southern Stattway (Com) Steep Rock Torontock.
4034
19 301
appeared
Sterling Drug Co.
Dow-Jones
closing
averages
Studebaker-Packard Corp,
gwift & Co.
were ng follows:
Texna Co.
Tide Water Awas, 011
30 Industrial
408.71
Twenty Century Fox Fil
20 rulls
145.10 Union Carbide
103!?
16 wilities
71.23
Union Pacific Railway
No. 1 rubber per lb, Feb.
8514-853
•
20
Mar. 601-0344
65 μtockя
100.93
United Alrerafi
$2
90.30
U.S. Foll
201
No. 2 rubber- per 1b. Feb. No. 3 rubber per 1h. Feb.
615-4
8122-02
188.03
53%
No. 1 rubber per ib. Feb.
7844-701
331
Spot rubber anbaled
RASS-ED
Closing Prices
42
Blanket crepe
74-20
No. 1 pale crepe
03-95
LONDON
B4
United Press.
No. Rea sput
2014-20
Settlement hour term)
Mar.
2016-379;
Apr./June
2016-201
July/Sept.
2935-23
Oct/Dec.
237-2532
Feti.
Mar. April
גונן
reported
MARKET DIARY
Tuesday:
Wednesday:
معاد
Here is a diary of the week. Monday:
trw counters A made sigh head- way. T/O: $1 million. Market turned dull, T/O: $404,000. Undertone a shade vasier. A mujority of small losses, T/O: $230,000. Signs enquiry.
£1-10-0 to £93-10-0. Unions Thursday:
are also fractionally weaker at
$03214.
In the utility section, Trums,
Youmalls,
Telephones
Electrics
and
close fractionally
changed
of fresh Where prices
closed fractionally higher. T/O: $850,- '000.
Amale. Trust UTILITIES Trust Yournali C. Light
Electric
Macao F..
Relejdione,
31 311
1,80
TO 24 24,70 (N) 231 23,60 INDUSTRIALS cement..... 302 38.75 Repe
12.74 STORES, ETC. Dairy
$5.00 10 10
13.00 13.00
1.00
Watson Sinceres COTTONS Textben Nanyang INVESTMENTS best,
10.00
1250
G00 10 500 7 13,09 500 то 10
121 1,00
4.0% 4,725
8.30
0.75
Singapore
Stock Market
40 bonds...
Comm. future price index
Alden Ine. Acy, Allied Chemicals Allied Mills Ine, Allis Chalmers American Airline American Cable
Corp.
Radio
American Cyanandde Cn. Ainer. Forgn. Power
Ain, Mneli, & F dry. American Metal American Smelting Am. Sugar Rep.... American Tol & Tel American Tob, "" Seaconda Copper Armco Slee}
Annour Singapore, Feb. 8. Brokers today quoted the following stock prices:
Allas Cona, Mining Bellwin-Lima-Hamm, Baltimore & Ohio Bendix Aviation Corp. Benguet Con...
Standard Oil of NJ.
Stokely-Van_Camp,
S. Gypsum
U.S. Line Co
U.S. Rubber
US. Smelting
US. Steel
Water Bros.
Westinghouse Electric
West Va. Pulp & Paper Woolworth
05
short
2011-2012 -253-301-
3011
"CHUSAN"
"BUNDA"
Due Hongkong 2nd February 3001 March
8th May
in June
18th February
Fist March
Roth February
411 April
3rd April
12th May
WHETHER YOUR BUSINESS
IS
TEA in INDIA
OLIVES in CYPRUS COCOA in TRINIDAD
BRITISH
TIMBER In
COLUMBIA FARMING I. EIRE
BREWING la UGANDA
SHIPPING la AUSTRALIA INSURANCE la SINGAPORE make sure your money is earningg
6%
Mindesit Lipop) 100
in a
BANK DEPOSIT ACCOUNT Send today for "Bank Deposit Account” booklet No. A074 from General Manager
LOMBARD BANKING
LIMITAD
DANKEESSA JA Hand_ffer?_LOMBARD HOUSE,, CURZON STREET
PARK LANK, LONDON, W.L.
GRO 4111: (30 Lom) Bruscher and Agents'shemaghona the Worbl
London Stocks
Firm But Moderate
The
London, Feb. 7. reduction in
bank rate to five per
from 5% per cent
The market was frm with spol quoted at 20% pence për 1b, Prices:
General markets, cit batis, ports:
Estate crepe thin Mar.
thick Mar... AMSTERDAM
The market was stendy. Pricts clared today in guilders per the kilogram, cif Feb. as follows: cent
No. 1 rubber
No. 1 rubber
had No rubber
little effect on the stock No. 1 crepe
15 market today with prices
Opening
Antu Lintang Rubber Co.
Ltd,
$130
Bethlehem Steel (new)
British Dorned
Boeing Airplane
Byndicate
83K30
Bonsei IT1) Cu
Colidaterl Flo Smelters
Burroughs Add Machine
Ord.
31x3d
Canadian Pacific R.
Flarer & Nenve Låd Ord...
32.21
Cao ( từ Ca.
Fther & Neave 7% cum.
Cat Tractor
pref
Colante Corp.
Commons (Malaya) Limited 12.12
Hongkong & Sianghai Bank-
Ing Chri
$550*
C. 1. T, Financial Corp. Chase Manat. Bank Chrysler Motors
Korong Tu Ltd.
End
Colgate-Palmalive Co.
Kempas Ltd.
#1.33
Luna Rubber Extaten Lid.
Mataran Breweries
$2,90
Commonwealth Elec.
4014
New Berandali Rubber Co.
Consolidated Edison
Lil.
Ramon Holei
Petaling Tin L Lt.
12.40
Continental Oll of Del.
#139
19.30
Crane Co...
$2.00
Cmwn Zellebach
Bingapom Call Storage
$1,50
Cuban Amer. Bugar
Beuth British Insurance Co.
L
$12.50
Dow Chemicals
Straits Trading
$20.80
Dupont de Nemour
Sirulla Steamship
$10.25
| Easter Airlines
United Engineers Ord.
$9,00
Wearne Bros.
$2.87
cumdiy.-Ching Mall Special.
New York Sugar
Market
New York, Feb. 7. World No. 4 sugar
futures today closed unchanged to 17 points lower with sales of 1,077 opntracta,
Domestic No. 6 sugar futures closed
10 points lower to 3 points bigler with sales of 310 contracts.
Climax Molybdenum Commercial Credit
Diamond Alka!|
Eastman Kodak
El Paro National Gas Kela Railroad ..... Family Finance Corp. Ford Motor ...
General Electric General Foods
General Motors
1042
Gen. Pub. Utal
35
Gudden Co.
Goodrich (3. F.) Co.
rajk
Goodyear Tire
Gull Onl
Heyden Chemical Homsake Mining co.
Inland Blool Co.
firming in moderate trad ing.
Industrials were most popular, but the average gain was around a shilling. Rolls-Royce featured with a rise of about three shillings.
There WAK rome resumption
of buying in British
Gover-
Inode-
ments, but guine wero rate, and few closed of their besi levels of the day,
There was some interest in nuclear stocks with gains rang- ing from one shilling, three- pence to two shillings, sixpence, Olia wore mixed. Royal Dutch dropped about five shill-
2.54 buyerA
2.82
2.48
2.TS
#
United Preis.
London Foreign
Exchange
London, Feb. 7.
Closing rates were:
New York Montreal
AmsterdamL
Bruneia Copenhagen Frankfurt MUJAR Onio
Blockholm Zurichi
"GANTON"
"CORFU" "CHUBAN"
12th May
12th June
Via Singapore, Penang & Colombo, FREIGHT SERVICE
Joads 12th Feb.
"BALSETTS” due 13th Feb.
"SOUDAN" due 2nd Mar. "SALSETTE" loads Sili Mar.
for Singapore. P, Swet- tenham, Havre, London, Hamburg, Rotterdam, Antworp & Grange mouth
from UK. from U.K.
(or Eiruzapore, P. Swet- tenham, Penang. Lon. doo, Hamburg, Rotter- dam & Antwerp from UK.
"SINGAPORE"due 11th Mar. "BALLARAT due 17th Mar. from UK.
ALL VEBBELS OUTWARDS AND HOMEWARDS WILL PROCEED BY THE CAPE OF 110OD HOPE UNTIL FURTHER NOTICE.
BRITISH INDIA S.N. CO., LTD. 1350 - A HUNDRED YEARS OF SERVICE
-1048
"BANGOLA” due 25th Feb, from Calcutta, Rangoon
& Straits weils 26th Feb, Tor Japan
from Japan "FULTALA” due 28th Feb.
sails 2nd Mar.
"SANGOLA” duo 10th Mir, salle 17th Mar.
for Singapore. Rangoon, Chittagong, Visakhapat- nan Kakinada from Japo
for Bingapore, Penang. Rangoon & Calcutta
P. & 0./B. I. JOINT SERVICE
"ITAURA"
dun 10th Feb. salis 11th Feb.
"URLANA”
due - 17th Feb. sails 19th Feb,
"UMAKIA"
2.7044-2.7016 2.01-20/10-240 10,60%-10.07 14060-140.44 29,2011-10.201
1780-1101
20.00-20.001
"TTOLA"
United, Prem,
Other were unchanged
14,455-14.8012 THEM
ings, while other leaders moved New York Foreign
up one to two shillings.
Canal jumped £14.
Sucz
German assented bonds were
narrow, and mixed, while the
Ingersoll-Rand
Interthemicol
Corp, Int'! ́Dualness Machines
503
371
non Hesenteds WETC
1044 Japanese
100
Int Harvester International Nickel
Inferendoemi Paper. Inti Tela Tel Jolin-Manvilla Co.
Lockheed Asperäft
World contracts fluctuated Kennecolt Copper over a wide range, meeting Lierett Meyers Tob, Co. alternate spurts of hedging and Loews Incorp, Hiquidations as against Burries of Lone Star Cement Co. trade buying and speculative Louisville & Nashville' ft. covering.
Lock of details
Löwenstein & fort
on some of Moshi Don Car
· Minremota, Mining
the World row business done in the part 24 hours, - and conillo ting reports of possible new bitinces, weTO unsettling in fluences.-Valted Press.
Sidon Development Monsanto Chemical Co. Montgomery Ward Motorola Ino,“
National Cash ftag.""" National Dairy Prod.
non-precated
the.
1930a
rose £1 in an otherwine- dull
301 group-United Press*, ***
Exchange Rates
Business was done in the 10281] unoficial Exchange market, this
£30 | morning, as, the following rates;=
Sale V.B. dollar, iper (1)
Sterling hole. (pár "#1). Australlen notes (per é)) Indonezian blah ther÷100) Blam Hos] ([pat® 100)
3071 1.Bingapore (itraštu)
i
Exchange
New York, Fob, 7. Closing rates were: Canada,
England unofficial: “ Argentina
1.04-77
3.07-2.09
0280
United Pres.
NAMESAKES
Answers-1 Johanna, 2 Opera,
3 Carynx, 4, Singing, 5 Melody, 1, Goldschmide, A. VoMusical, -Nighlingsle, D. Sweden, Canti
Jenny Lind
("The Swedish 135) Nightingale”).
7.80
due 23rd Feb. saila 28th Feb.
due 4th Mar, salle 8th Mar,
+
from Japan
Jor Blgapore, Bombay, Karachi, Barat, hot- rang Kuwait from_Japen
Cochin,
for Singapore, Bombay: Karachi, Bas- ran de Étuwait - from Japan Nat
for sinsspore, Bombay, Karachi, Dubai, Kuwait, Khorramshahr de Hazrati from Bombay de Marsolj for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD. "NELLORE" due li Feb. from Acstralia "NELLORE" loade 7th Mar," ter· Bandakan, Zloty
bourne de Kl
All venela havs Überty to call at any Duęta on of all the foute & the route à exling Ats sahjort to charge of amendment with or without notien.'
For full particulars apply to: MACKINNON, MACKENZIE & CO. OF HONG KONG 110. Telephone Nos: 27721-4.