La
THE CHINA MAIL, FRIDAY, MARCH 22, 1957.
TRADE and COMMERCE SECTION
Page
BANK MOVE SPARKS SHARE RISE ELIMINATE
Turnover More Than $1 Million
Climbs By
By A SPECIAL CORRESPONDENT
The Hongkong and Shanghai Bank's disclosure last week that it had applied to Government to amend the ordinance allowing it to do away with the Reserve Liability of Members stimulated fresh demand on the Hongkong Stock Exchange this week.
Turnover rose from $2.88 million last week to more than $4 million and a majority of shares show rises on the week.
If Government agrees to the Bank's proposal, $25 million will presumably be freed; for what purpose the Bank does not indicate. Obviously it would be presumptuous to say what it intended to do with this fund until Government has given its decision.
The talk in Ice House Street for occupation by about the
that it may
reservo, yesterday,
but one the shareholders Was
be put
source
hope
that
would be distributed,
into middle of this year, said
The increase in the working among
reflected the increased cone prot
fourist traffic passing through Hongkong, the report added.
Other land issues are stendy and call for no Special comment.
Was TIL
The fund, as the Chairman
week. explained last precondition of its formation to afford protection to note holders and depositors.
Shareholders have been liable for the full amount of the notes issued by the Bank in the event They of its being dissolved.
been able to con- hove also tribute to the Bank's debts to the extent of the nominal value of each share.
UNNECESSARY
und
Dairy stores section, In the Farms have put on 30 cents and A. S. Watson, 50 cents.
WATSONS DO WELL
The
sheet Waison's balance
record came In yesterday and saics of aerated waters helped the company to a profit that is more than double the previous year's.
Net profit, after taxation, is Since $1,428,363 against $584,173 in "The growth of banks
1095. Cush at bankers and in these days has made such 41
rises hand
from $656,793 10
Green Island Cement registers do a good rise of 75 cents on the away with such a liability," the week to $33%. Chairman said.
protection unnecessary recently in a number of in $1,964,101,
stances arrangements (by other banks) have
been matic to
So the Bank has appiled for
an amendment to the ordinance, Here
MODEST GAINS
un authoritative
by which it is bound in this account of the week's market respect, to do away with this prepared by an lee House Street provision,
The Chairman also pointed out last week that the Bank's note issue wa fully covered by certificates of indebtedness and while approved
securities depositors were profected by very substantiai reserves which had been built up.
the
This, however, explains the market's particular interest in this year's Bank report.
BLUE CHIPS UP
Bank shares are up $35 on the week to $1000. Another big
rise
Union Block to Insurance which climbed $10 to
$936.
L
ether
Way
the
sections of market, Blue Chips did rather well this week with Telephones, Yaumalle, and Electrics higher, Trams and Star Ferry steady and China Lights down.
Telephones are obviously still the balance sheet strong on which showed n-rise in profit of about $2 million to $6.3 million. Their report spoke of big ex- pansion plans which should keep this share in the forefront of the market a long time.
for Youmati are apparently still climbing on
the strength
and
of
observer:
다
evident
recens popular lacking on fresh gains.
counters
Valies kave been quite active with Telephones pro- minent and in good demand. Some fairly heavy ilquidation well absorbed with the throughout price maintained at $24.60.
WON
Yaumail Ferries were also weil supported at the higher level of $107.
Electrics were quite active
15.00
Singapore
Stock Market
Singapore, Mar. 22. Brokers today quoted the fol- lowing stock prices:
'ARTIFICIAL OBSTACLES'
Tokyo, Mar. 21. A Japanese businesmen's
group today promised the Red Chinese to eli- * minate
#artificial pb-
stacles" on the part vi
which were -ab-
rizuoting expanded trade between Japan and the China
* The Share Market At A Glance ★
Fob 21
IIK Bank Lombard Union Wheelock
1015
Feb 28 1565xd
Mor? 1560
Biar 14
1505
Mar 21 1600
Up or down
+$35
38n
38m
380
37.50m
37.50b
steady
945m
135m
925
025
935
+$10
0.85
0.00
6,65
6.80
4.75
HK Whart
100% m
100b
102
102
102
teady
IIK, Docks
4714
48
473/m
*Y
482
+$1
Provident
13,30
13.30
18.30
13.10
13.20
+100
HK Hotels
15.30
15
16.10
14.10xd
steady
DE Lands
042
04
30x
3644
steady
HK Really
425
HK Trans
33.20
1.40m 22.90m
1.375m
1.375
1.375
steady
Opening Batu Lintang Rubber Co. Ltd. "$1.85° British Borneo Petroleum
Syndicate
52/04
Consolidated
21.90xd
22
steady
Tin Smelters
Ord......
13/-
Star Ferry
142m
188mxd
138mxd
1356
135b
steady
105b
105
105
105b
107
+$2
ChTM Kighla
23
22.80
22.00
23.10
22.90
--200
Fraser & Neave Ltd, Ord. Fraser & Neave Lid. 711%
cum. pref..........
314
30x6
30xd
29.90
30
+10p
GT(MARA) Limited
HIK. Telephone
25.70
23.80xd
23.00xd
24.10
24.00
+500
Hongkong de Shenghai Bank-
ing Corp.
374
33xd
33xa
3334
334
+750
Hongkong Tin Ltd.
Toa
The
Dairy Farm
10.10
16.20
10.10
10.10
16.40
+300
Kempas Ltd.
$1.47
Las Rubber Estates Ltd.
0.07
14.20
14.20m
11.30hnxa 11.30
11.80
+500
Malayan Breweries
$2.00
G
Cn
5.80b
5.88
5.85b
steady
New Berandah Rubber
4.80
4.85M
4.808
4.752
4.75%
steady
43.40
9.76n,
9.75b
10
10n
8.00b
-100
Raffles Hotel
4,70
4.70
4.75b
4.75m
4.30b
-50
Bingapore Cold Storage ...
$1.61
8.25
6.10m
B.20
B.25
+-50
Bouth British Insurance Co.
Ltd.
.60
Stralis Trading
Strait Steamship
United Engineers Ord.
exallChina Mell
Yaumatis
Electrica
G.I. Cement
A.S. Watson Yanglezo Allied
HK & FE Inv Textile Corp Nanyang
WORLD RUBBER
MARKETS
New York, Mar, 21,
Rex rubber futures today
but showed little change in closed & to 10 points lower with price. In the stores Kroup, sales of 99 contracts. both Watsons
and Dairy
Farms showed firmness
the wock throughout overall gains of approximately 50
Cements and Docks centa. made good recoverien from their
revent temporary declines.
March
with
May
July
September
November
January
Morci
12.43
70,00
32.33
32,15
31.03
31.75
The standard contract closed HK Banks and Unions 5 to 10 points lower with no hardened as the week pro-sales reported. gressed and closed at the best Jevels.
Marchi
May
Elsewhere
there was like change of note to report,
July
September
November
March
MARKET DIARY
FRIDAY:
The sleadier wne at the close last wock bas been generally well main- talled in the period under re- view and on balanon there is a fair distribution of modest
with a alight Improve MONDAY: ment
which turnove
$4,141,000 14 amounted compared with $2.88 million.
of NK marking up The Banks following the report at the annual meeting appeared все stimulate the market resulting in Barre of tho
to
FROM THE
COMPANY REPORTS
Lion's share
A. S. Watson's Chair- man, J. D. Claguo said in the
cir- annual report culated yesterday that "the percentage of increase in the volume of our sales €x- (of nerated waters) House Street
ceeded that of the Industry ns a whole."
their increased dividend closed at $107 yesterday.
Electric's rise on the week is amalier and lee
men think that the agitation aroused by the announcement of or
an increased surcharge has taken the edge off the market's interest in this share for üme being.
UNDER A CLOUD
the
be
China Lighta is said to definitely under a cloud for this reason, Hopes were and have been for a few years that the bonus company would make a issue. The present is hardly
and Kowloon Wharf which paid a $4 dividend
an ideal time. Hongkong
and
$ cash bonus last year has announced a $8 dividend this
warned Но
that
40 Increase of phenomenal about 60 per cent" in the of price of sugar because Of world shortage...."may well adversely affect the profits from the (aerated water) industry for the
current year least."
Inienpy competition had already cut the margin of But gross profit in 1055.
TUESDAY:
Prices con- tinued
January
HONGKONG
STOCK EXCHANGE
WORLD
COTTON MARKETS
New York, Mar. 21. The colton market was in the doldrum
today with
(From Our Correspondent) prices see-sawing narrowly
around the previous close.
to
Trading was dull from the outset with dealings taking place only in the three nearest deli-
Business done on the Hong- kong Stock Exchange this morning amounted appro ximately $370,000. Noon quota-veries.
lons and the morning's trans- actions
37,48
Shares Buyers Bolierz
Asles
32,60
BANKS
32.18
IK Bank..
1000 1010
10 3800
31.90
Eart Aaja..
31,75
INSURANCES Union
15
Futures trading was rather dull today with prices easing | to alightly in line with the slight
decline at London.
show a Arm tendency, HK Banks reacted
favourably
the report. This tended stimulate market,
#13
Lonbard "... 3735
SHIPPING
.
**
20
940
At the close, the list ruled unchanged to seven points lower. The market opened one to two higher, New Orleans closed four points lower.
Prices Inched upward toward noon on a little short covering and commission house buying which met only limited offer Wheelock 0.70 3.00 2250 6.0 ings, but then settled back on
some selling. DOCKS, ETC. K. Whert. Dick XD
Frov, 1LAND, ETC.
to
to
the T/O:
In the delivered market, fac- torics showed little more than routine interest. Spot No. Res was quoted nominally 32% conta.
SINGAPORE
Steady
with
utilities attract-
$800,000.
Hotel
HK Land
The market opened steady on overatas advices and overnight | UTILITIES ing most atten-
eased on Lion. T/O: acceptances but it
fairly heavy pro taking to $739,000.
almost
une cent below A few selected clase best. moved iznes
Futures: fractionally
No. 1 rubber per lb. Apr. Day-t T/O: higher. $830,000.
No. 2 rubber per 1. Apr. 82-0234 No. 3
01-02 WEDNESDAY: Moderate bust-
No. 4
BD-60 and! no
0334-0435 Spol rubber unbated
50-82 significant price Blanket crepe
No. 1 pale crepe
100-102 movements
THURSDAY:
Mess
100
101
C Light (0) 22.30 22.00 Electric
29.70 30% Telephone 24 24,00
Nerby May, however, kept 200 44% part of its gain on scattered
traded buying.
the Entries of
1956 cotton crop into loan were reported by the CCC at 21,444 bales for the week ended March 15, against withdrawal of 27,673 bales
still leaving 4,008,800 bales under loan.
Ltd.
Petaling Tin Ltd.
Weame Bros,
⚫cumdiv;
Special,
NAMESAKES
$2.00
2
Answers:-1 America, Archduke, 8 Mexico, ↑ Atlantic, 5 Emperor, Bavaria. 7 Rule, 8 Intrigue, 9 Austria, 10 Ferdin- and
+
Maximilian,
*
*
mainland.
there
with
business.
It did not clarify
obstacles, but it was as- sumed they referred to the western-imposed re- atletions the Japanese were strictly obe
obscrving in their relations Communist China. Japatomo m.cn representing the great Kanal trade and Industrial complex
signed = joint "trado n Peking statement" with Red China's com- milton for the promotion of Internations) trade, The statement was quoted
the part by
New China News Agency, The
and the Гарадско
committes
Chinese
agrood
tween
bo.
that trade
their countries
#should be based on the
iples of exchanging of tho KADID mutuat
und
should be provided for the long term supply of essential goods required by both alde-United Press,
P2O BIE&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Leaves London
Outwards
"OORFU"
*
"CHUSAN”
"CANTON"
"CORFU
Due Hongkong
30th March
Salled
8th April
8th May
21st April
24th May
1st June
Bth July
& Singapore.
Via Southampton, Colombo, Penang
"COBFU"
Leaves Hongkong
3rd April
12th May.
Due London
17th
May 12th June
TO BE
ADVISED
Via Singapore, Pedang & Colombo, FREIGHT SERVICE
X All ... Humphreya Realty
14 14.20 2000 @ 14.10 100 3645 30% 30%
1,30 1.40
Tram XD, 21.00
201
10
21,90
Sur Forry Youmati XD
The CCC said it sold 7,045 bales of upland colton for un- restricted use
opened on bids
Stomawards
*
"CORFU”
"CHUSAN"
24.70 2300 24.00
on March 18,
"CANTON"
NEW YORK
LONDON
INDUSTRIALS Cement
Rope STORES, ETC. Dairy
33 33%
12.80
10003352 400 33
Spot
10.30 0.40 1250 @ 10,40
1210.55
May
July
T/O:with
The rubber
market was quiet
Watea!
October
IX AU
11.90 12 3600 ₫ 12
December
March
per
lb. Prices;
COTTONS
May
No. 1 ss spot
28-2811
Textiles...
4.75
July
Settlement house term: April
Nanyang
3
INVESTMENTS
Yonglaze Allod
GBJ
4.75
$720,000.
T/O: Stendy
with activity in Tele- phones. $1,052,000.
CHICAGO GRAIN June
MARKET
Chicago, Mar. 21. Mast
Lutures closeti grain lower the Board of Trade after irregular fluctuations dur- ing the doy,
Wheat was down after a firm opening. Early commission house buying was scattered, and the demand dropped after re ports of considerable moisture throughout the southwest.
There was considerable liqul- dation in July wheat futures. 'December con- September and whole
tracts fell sharply.
down after Soybeans were commission houses began selling July contracts,
ot
In 1980 AS. Watson had Increased considerably lia gross profit from aerated water operations.
year and the share is holding New restaurant
steady at the phenomenally high price of $102. This price is due largely to fairly sustained buy- ing pressure on top of shortage
strip.
of
Hongkong Docks have revived and climbed up $1.28 on the week to clow at $481⁄4" after falling $1.50 from their high last month.
China Providente fractionally better at $13,80,
HOTEL FIGURES
Shanghai
Hoogkong and Hotels, ex-dividend at $140, are toady. Their balance slitet, Not was lanied yesterday. prolli is stated at $1,932,695 against $1,590,997 Jet, ver
The report slate Peninsula Court is expected to be ready
The
new
Peninsula Court, being built behind "The Pen""; and expected to be open in the middle of this year, is to have a $940,000 air-conditioned restaurant.
Hongkong and Shanghai Hotel Cuirman, Horago Kadoorie, revealed this yesterday in the annual report. It will seat 180.
He said the Peninsula Hotel Chou another record
air conditioning plant in the Per can now contrally heat. This was popular with American tourists during the Colony's Arecent cold' spell."
Wheat closed off 1% to 2% cents; soybeans closed 14 to 1% centa.--United Press.
spot al 28 pence
April/June
July/Beptember
January/March
October/December
General markets, cit basis March
Extate crepe thin April
thick April AMSTERDAM
The rubber market was quiet Loday. Prices closed in guilders per kilogram, cif April as fol- lows:
No. 1 rubber No. 2 rubber No. 3 rubber No, 1 erepe
2.68 buyers 2.56 buyers 2.62 buyer 201 buyers “United Press.
London Foreign
Exchange
NEW YORK METAL Amsterdam
FUTURES
16058-149.60
1949)-IDARS · ·
11.7454-21.745%
170812-27254
Prices of cotton futures closed today as follows:
LONDON MARTper
RECOVERS
NEW ORLEANS
39.20
34.62
3304
33.00
21.10
32.00
Prices of cotton futures closed today as follows:
Spot May
34.00
33.13
December March *15ay
July
LIVERPOOL
Cotton
future closings pence per lb, were as follows:
in
and
Old contract
Mar/Apr
20,00
May/June
20.03
Oct/Nov,
25,04
Dec/Jan
23.70
New constrant
Mar:/Apt.
London, Mar, 21,
Stocks had what the traders. called a technical recovery to day
small with gains trading light.
on
The stocks had been bid down point strike news to a where bargain hunters were al- tracted.
British Governments in to- day's session ran into invest- ment buying as well as
SOMME renowed selling. Gains ranged to more than seven shillings In Old Consols.
London, Mar, 21.
Nuclear power shares rose 1 Closing rates were: New York
270-1/10-2,79-3/10 to 2 shillings, but other leading Montreal
2.96-0/16-206-11/18 | industrials were up a shilling or 10.041-10.0422
less-United Press. Brunel Copenhagen Frankfurt Milan New York, Mar. 21.
Paris Prices of metal futures closed stockholm today in cents per lb. as follows: Vienna
Karlon Lead
March
Labon alone was unchanged. April Zino Manch
April
Copper March
April
Tin
March
April
March
April
⚫ (Blancard), (Strali).
¡Press.
15.10b
18,000
13.10b
13.000
23.200
DEBOL
10,193
90.265 99.121b
Exchange Rates
Jocal
Burines was done in the
exchange market thie
mdynion at the following rileg:-)
UB, dolar (per #1) onlyarder Bierling note Tour" g1).
19.06-19.2044
14.4834-14.40S 73.78-12.01
-United Prosa.
New York Foreign
Exchange
New York, Mar. 21.
Closing rates were:
Canadia
England omis
135 | Bouth Atrion
Australian now dem. Late Baleares
Indonesian typistij(per 1003 ..
Burm-tiela_{[er]||100).
Bingapore (frakte)
Others
1,04
New York Sugar
Prices
New York, Mar. 21. Contract No. 4 (world)..
July .-. Beplansber
May
March MAY July
635
8.00-10
Spot (benta per ib, fob Cuba)
Open interent! 0,270 contracts. Total. males: $11 contamata,
July/Aug.
May/June July/Aug.
Doc/Nov
Egyptian Kamak
Jan/Feb.
SERRA RRRRA
SABER ZANJ&
5th June
13th July
*
Port “BALLARAT” in
*SOMALI" In Port “SINGAPORE”loadı Tülṁ Apr.
from U.K.
From UK.
*
GOOD
for S'pore, Pt. Swatted- ham, London. Hamburg. Rotterdam Antwerp & Grangemouth
ALL VESSELS OUTWARDS AND HOMEWARDS WILL PROCEED BY THE CAPE OF
HOPE UNTIL FURTHER NOTICE..
BRITISH INDIA S.N. CO., LTD.
1838 --- A HUNDRED YEARS OF SERVICE — 1958
from .Calcesita, Rangoon “BANTHA" Que 27th Mor.
& Strait
maile 28th Mar, "ORMABA" due 25th Mar.
"SANTHIA” due 18th Apr,
"TTOLA"
walls 17th Apr.
Los Japan
from Japani
for Singapore, Penang, Hangoon, Chuítagong & Calcutta.
・ from_Japan
for Singapore, Penang. Hangoon de Calcutta
P.&O./B. 1. JOINT SERVICE
due 5th Apr. salle 7th Ap
due 8th Apr. Falls 10th Apr.
due 10th Apr, walls 13th Apr.
Егора Гарад
for Singapore, Penang, Cochin & Bombay from Bombay de Karachi for Japan
tor Singapore, Bombay, Karachi, Dubia, Barrah, Khorramshahr de Kuwait.
from Karachi, · Bombay de B'pord". for Japan
EASTERN & AUSTRALIAN S.S, CO., LTD.
toàđu 22nd Misc.
... Halla K3rd Mar
"EASTERN” due · 14th Apr, Balls 183) Apr.
for Bydney & Mak- boure direct.
from Australia for Japan
All vesels have liberty to call at any ports on or of the route & the route' & sailing are subject
to change or amendment with or without notice.
60.00
"OBRA"
"IKAUNA"
SAO PAULO
Closing futures cruzeiros follows:
May October December March...
*
in prices
"ITRIA"
per
illo
due 15th Apr.
were
No
+
xalis 10th Apr.
In the U.S. lhe average price of ono-inch cotton at 14 design ated spot markets was 33.87 cents. Gales totalled 100374 bales United Press.
LONDON METAL
PRICES/
· Loddon, Mar, 21. Prices of metals closed today. In merling, per long ton, sa, folē lows:
Copper apo
month
E-month
11/0/0/18" Boot
Totă
Mina Mak half
Sisterdet:). 3,63)
ited. Pre
+
"NANKIN”
+
For full particulars apply ta. MACKINNON, MACKENZIE & CO.
OF HONG KONG LTD. Telephone Nos: 27721-4.