THE CHINA MAIL FRIDAY, MARCH 29, 1957:
TRADE and COMMERCE
SHARE MARKET CLOSES LOWER NEW
Widespread Losses On The Week
TURNOVER FALLS
By A SPECIAL CORRESPONDENT
Last week's improvement in
prices was
* The Share Market At ́A Glance
IIK Bank Lombard Union Wheelock IIK Wharf
НК Москв
Provident
11K HotelN
Up or
down
slesdy
100
--250 -40.
STRE
COTTON MA.
WORLD PRICES
New York, Mar. 28.
Cotton futures today moved Irregularly higher for the third session in a row,
Feb 28
Mar 7
Mar 14
1805x0
1560
1805
Mar 21 1800
Mar 28 1815
+$15
18m
38n
37.50mm
37.501
37b
steady
935m
085
D23
936
945m
+$10
0.00
6,555
6.80
0.75
0.70
1006
102
103
102
101
$814n
4733m
4834
4434xd
leady
13.30
13.30
13.10
13.20
13.20r
15.60
13
15.10
14.10xd
13.706
TIK Lands
44
04
3814x
381
3014
HK Really
1.40m
share
UK Trams
22,00m
1.375m 21.00xd
1,375
1.376
1,850
22
22m
21.90
-100
136mxd 125mxd
133b
185b
136s
105
105
1050
107
102xd
steady steady
22.80
HK Telephonet
30xd $3.80xd
33xd
10.20
22.90 30xd 23.90xd 38xd
10.10
23.10
22.90
22.80
-300
20.00
30
29.70
~300
24.10
21.00
24.70
+100
3234
33
33
-500
1410
18.40
10
100
A.8. Watson
14.20m
11.30mxa
11.30
11.80
11.80
steady
5.80b
3.85
5.85b
5,840
steady
13 points,
4.80%
4,80%
4.75m 1
4.760
4.725n
-2340
K&FE Inv Textile Corp Nanyang
9.75b
10
100
9.900
9.800
-100
4.70
8,10m
4.75b
B
4.75m
4.706
8,20
8.25
4,725m 8.20
+2140
-50
up
Strength, in forwards pointed the soll bank Influence of
shortlived and the market closed this week with widespread small losses.
fell quite substantially from $4.14 The turnover million to $2,69 million and the tally for the week wits four higher, seven steady and thirteen lower against 12 higher, nine steady and three lower last week.
The reason for the dullness is hard to state precisely, China Lights, because of the protests against the recent incrtuse In
10 surcharge, are inclined be out of Invour at the moment. The long hoped for bonus issue can not be expected as long as the surcharge remains, brokers feel.
The
Yumati Ferry Com- pany's balance sheet which arrived this week shows a profit of $0.25 million compared with $5.51 million last year. Distri bution is ther because of the increased dividends up from $3.53 million to $3.78 milion. A total of $1 million goes to the Typhoon and Accident Fund.
Market лють зау that Hong-The General Reserve beneflls by kong Electrics are also inclined $080,000 and
to be depressed because of the taxation
surcharge.
and
serve,
Shanghai
On
Hongkong Banks have brightened up the news of a rise in London registers-up from
£83.
WIS
£014
Another big share to rise this week
Union Insurance which rose $10 to middle quote.
$945 on
U
Dairy Farms Lower
Among the losers this week Was Dairy Form which un- nounced an unchanged final of $1.10. The Jos was 40 cents. Hongkong and Shanghai Hotels was another "big" loser,
dows
15
48 cents on the week,
Green Island Cement are
50
cents lower at $33.
Elsewhere prices are slightly
lower where changed.
WORLD
RUBBER MARKETS
New York, Mar. 28. The rex rubber contract today closed 50 to 60 points lower with sales of 95 contracts.
May
Juty
September
November
January
March May
31,00
30.5.01
30.60
30,35
30.13
до
29.10
CiT esz
Standard contract closed 50 to
58 points tower with no sales.
May
July
September
November
January
March
My
$050,000 goes 10 and contingencles re-
No Follow Through
Here is an Ice Hou50 Street observer's
account market:
of
the
There was no follow through Improvement to the general
week and with the market,
Star Ferry Yaumails Ch Lights Electrica
G.I. Cement
Dairy Farm
Yonginze Allied
UTILITIES MATCH
THEIR OLD
HIGH
ON WALL STREET
New York, Mar. 28.
New York Sugar Market
New York, Mar. 28. World No. 4 sugar futures today closed unchanged 5 points lower with sales of 347 coh- tracts.
Domestle No. 6 sugar futures closexi 1 point higher to 1 point lower
of 16 with sales tracis,
raw market May liquidation featured situation
world on the
An Caster
New crop months showed relative strength, while old crop deliveries met renewed selling from holders expressing a belief that price-shaping in- fluences there had been discounted.
Final prices ruled off to up
The market opened unchanged le up 7 points. New Egyptian Orleans closed up 6 to 8 points.
Dec/Jan.
Cotton
Karnak Jan/Feb. 80.00
SAO PAULO
future
th
closings, programme and prospects for a acruzeiros per kilogram wero na
government loan rate. higher
Because of the inflotionery | July nee, and March
of the parity base, and fnend expected reduction of the sur- plus through expanding ex ports, one source felt the loan rate may be about the same of the 33 cent base prevailing on the old crop.
A
in
follows:
Oci,
30.00
unquated
In the US the average pricv. of one-inch cotton at 14 signated spot markets was 33.80
centa,
21
Total sales at these mark?ts were 29,162 bales.-United
NAMESAKES
Answers-1 Bath. 2 George, 3 Dandy, 4 Court, & Fashion, & Tallor, 7 Style, & Clothes.
Beau
(The
Press. gradua! Improvement world economie conditions, and the retaining effect of our ex- port price, are expected to in- fluence
foreign production of cotton and rayon, the observes added.
interests, sup- Leading spot posedly reling in part for for- eign accounts were accredited buyers of around 10,000 bales, spread out in the deliveries from October forward. Memphis ship-
ERA pers at the same time bought around 8,000 baies, Other spot frins were seller of May and 6.12 July against purchases of new
crop months.
con-
and the
тож
contract, whlic e routine trade developed in the domestic de liveries.
Steel and metal shares, selected oils and special issues and the utilities highlighted a stronger, more active stock market.
Utilities - thanks chiefly to a gain of 3
matched their 26-year | May points in Peoples Gas he high touching 71.58 on average, up .33 point.
shown during the previous devoid of any sustained in terest prices have tended to drift fractionally lower
with hut fow exceptions, Trading has been on a
with ncaje
the turnover dwindling back to approxi- mately the $234 million mark as compared with $4 million. the heavy class, Hongkong Banks and Unions have main- tained their recent firmness. Telephones were again active- the price ly supported with well maintained. Dairy Farms were surprisingly disappointing and lost 40 cents on the week. Rubbers were
In
moderately active with Amalgamated and Rubber Trust a shaile firmer. Elsewhere Changes were mostly lower but insignifienne and there is no feature worthy of special comment.
Market Diary
Industrials nverged 1.69 Int'l Harvester points higher at 475.01 and rails
added 20 to 144.49.
Volume Increased to 1,930,000 shares, heaviest since Feb. 16, from 1,710,000 on Wednesday.
The improvement was seen as chiefly technical, reflecting lock of selling in recent sessions and
without real WDS although the best performance of recent sessions.
Metals
Non-ferrous
enthusiasm.
metals also did well with gains ranging to 2% points.
very
While motors moved
Motors wa harrowly, General
activoly traded following
Here is a market dlary of the Bethlehem in the active list.
week:
Friday:
11.02
30.87
20.00
Monday:
30.39
30.16 20.05 20,10
Tuesday:
༤་.
issues
558 higher
Out
1,125 of a total traded there were and 61 at new highs; 310 lower with 22 at new lows and 251 unchanged.
Exchange
Stock New York bond volume was $3,710,000,
well malt Prices tained. T/O: $820,000. Quietly steady. T/O: $458,000. Light-senle trading with minor changes Priers continued erratic with
elther way. T/O: line of lens! resistance
on the
$555,000. After downside.
hedtan!
Wednesday: Dull' and feature- start, prices broke sharply.
less. T/O: $170,000. After
a partial rally, prices
Price 1997 | Thursday:
were: changes few close. again at the
T/O: and small. dealer interests with in-
$570,000.
A
MSA
corections were the
leading seller, with pressure from that direction touching off stop-loss orders.
Other dealers were scale- down buyers, presumably cover- ing of short positions on the decilne. Local sellers also were reported offering in the Ams- terdam market. Lower London cables, plus the discouragingly slow demand from consumers,
tho dominant remained fluences.
Current prices are the lowest in several weeks, some techal- clans thought the decline might carry a Bittle further before consumer's interest is attracted. Spot No 1 Rss was quoted locally at 31 cents a pound.
SINGAPORE
The market opened around the previous levels but it cased on heavy liquidation At lower levels there was a good demand for lower grade.
The markot steadied with sellers reserved. Futures: No.
rubber per lb.
DO-00
April May No, rubber per ib. April 8/1-01 No. 3 rubber per ib. April 81-87 No. 1 rubber per ib. April BG-00
J
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
American Stock Exchange volume was 980,000 shares.
Dow-Jones
closing
30 indiatrinis
16 utilities
20 rally..
65 stocks
International Nickel International Paper Int'l Tel_k_Tel ....... Kansas C. Power & Light"
Cennecati Copper Liggett Myers Tob. Co,
Lockheed Aircraft Loews Incorp
Lone Star Cement Co. Lowenstein & Sons, Ligh
Aircraft (AM,
McDonnell
___Block_Exge.)
Mesabt Iron Corp.
Minnesota Mining
Mission Development
Monsanto Chemical Co.
Montgomery Ward
Motorain e.
National Cash MER. “A”
National Dalry Prod.
National Lead
National Steel Corp. New York Central" Oun Malhienon Otis Eleva1DTS Owen-Illinois Glass Pacific Gas & Elec, Pan American Always Paramount Pictures Parko Davis Co. Penny JC. Co. Penn. Belt Co. Philip Morris
Procter & Gamble Co.
Pittsburgh Plate Glass Publicker Industries Pure Oll.... Radio Corporation Republie Steel
Reynolds Metal Shell Oil Co. .... Saint Reg. Paper
Sinclair Ou...
Socony Mobilais Solar Aircraft
South Puerto Rico Bugar
Contract No. 4 (world)
The Commodity Credit Cor- poration reported 1030 crop cotton underloan to March 22 totalica 4,080,748 bales.
dandy).
*
*
#
*
July
4.00
September
0.04
October
8.98
March
4.70
100% July
May
4.79
4.00
脓
1214
Spot (cents per ib. tob Cuba 4.12
Open interest: 8,303 contracts.
39
Abouth
Volume
Open interest
113
Contract No. 6 (domestlo)
May
8,300
430,300
May
5.72
July
10.290
180,000
4813
1834
July
Oci,
15,300
175,000
33
Beptember
Dec
13,600
810.300
November
5.50
Mar
7.104..
70.000
30
Spot frenta per lb. c NY
May
5.000
00.400
3014
Ex-duty)
8.70 July
7,400
40,000
醌
Open Interest: 3.400
cia Total
05,400 1,012,000 bales
United Press,
NEW YORK
New York Foreign Prices of cotton futures closed
Exchange
May
today as follows:
Spot
July
New York, Mar. 28. Closing rates were: Canada
October
December
England official
30-day
90-day
Australia
South Africa
$1.04-21/32 44.79
2.78-13/10 2.78-3/16 22344 2.78 2.79%
March
May
July
New Zealand
NEW ORLEANS
+
Nash
famous
2
early next work. Import pensing da exeing
about. A£75 million, dating from April and covering $75 millon and sterling Foods.
The Australlah övers
miell, socórding to the sõürdés, will lix à new Import loensing celling of A£775 million for belfor
oùding June 10, 1958, which shows an Increase of A£80 million over the colling approved; - for the your ending next
June 20.
Corioession of A£75 million will include A2D million of import relaxe- tions granted last January but which have not been used at all by importers. -United Press,
Exchange Rates
Bunnos unofficial
wes dóna in the loc Exchange
kat ไป morning at the following rates:-
1.8. dollar (per 81) Starling notes (per 21) Australian notes, (per 21) Indoek sipials (per 100) sim tical (per 100) Singapore Straits)
PO B•IE
E&A
COMPANIES
A
PENINSULAR & ORIENTAL S.N. GO:
PASSENGER/FREIGHT SERVICE
Lekves Lokom · más könkubbe
Saved
4th April
Outwards
"CORPU"
30th March
"CHUSAN"
QUs May
35.45a 35.31 34,00-07 33.45-47 33.40
*
"CANTON"
21st April
1st June
"CORFU”
20th May
Dis July
*
Via Southampton, Colombo, Pikkbg & Whgapore.
Homewarda
Leaves Hongkong
"CORFU”
3rd April
"CHUSAN”
1216 3907
"CANTON"
"OORFU”
$7.00
Prices of cotion futures closed Others unchanged.-United Press; today as follows:
London Foreign
Exchange
London, Mar. 28.
Closing rates were
New York
Montreal
Amsterdam.
Copenhagen
2.7074-2.78 15/16 2.00 0/10-2.05),
10.05%-10.053 140.70-140.723 19.43-19.43%
117432-11.7434
170175015
Spot
May
July
December
March
May
July
LIVERPOOL
34.00
Cotton future closings, in
pence per ib. were as follows:
Old contact
Mar/Apr.
July/Aug.
averages
Southern National Gas
Bouthern Hallway (Com.) Standard Etunds
28
Brussels ..
$73,01
Standard Oil of Cal
401
Frankfurt
May/June
Milan
8712
Oslo
Oct/Nov.
Parla
2064-0053%
Doc./Jan.
#714
Stockholm
New contract
Zurich
12.231-2227
Mar/Apr.
奶奶
Other unchanged.—United Prem.
MayyJune
20.57
Closing Prices
Alden Ine. hey,
Allied Chemicals
144.43 Standard 051 of Ind.
Standard Oil of NJ.
163.19 Steep flock (Toronto Exge.)
71,38
40 bonda
99.00 Sterling Drug Co.
Comm. future price index.
155.51
Stokely-Van_Camp,
Studebaker-Packard Corp.
Swift & Co.
Texas Co.
Tide Water Asen, Di
# 1714
Twenty Century Fox Film
Union Carbido”........
1415
Union Pacific Railway
Alled Mills Inc.
United Aircraft
U.8, Foll "B"
American Airline
101
Amer, Cable & Radio Corp.
434
U.S. Gypsum
American Cyanamide Co.
7515
Amer.ch. Power
100%
20
5414
178
BOYL
Allis Chalmers
Amer.
American onl
F'dry
American Smelting Ainerican Tel & fel
American Tob. B
Anaconda Copper
Arinio Steel
Armour
Atlas Cons. Mining this Baldwin-Lima-lioni.
Baltimore & Ohio
Business done on the Hong-
Exchange kong Stock morning amounted to ap- Beneficial Fmance proximately $240,000. Noon the morning's quotations and transactions:
Bhares Libyers Gallern, GOVT, LOANS 336 (1988). 0716 BANKS
His Bank INSURANCES Union
Lombard SHIPPING Wheelock
1010
Dio
050
Spot rubber unbeled
8094-0094 76-17 D4-90
0.00 0.70
DOCKS, ETC.
K. Wharf..
Dook XD
33,40
HOC alotel
Blanket crepe
No. 1 pale erepe
LONDON
The rubber market was quiet LAND, 12.
and
featureless with spot at
20% pence per ib. Prices:
No. 1 Ras spot
20%-2014
Settlement nouse term:
May
June July
July/Bept.
April
Jung
3000000
113.70 84.10 1000 63 1390
30 20
100 301
4.03 1,071
100
100
Bendix Aviation Corp. Benguel Cons...
Bethlehem Steel
Boeing Airplane
Borden (The) Co,
Burrough Add Machine
Canadian Pacific R. Camo (J.1.) Co.
Cat. Tractor Ceinners Carp. CIT. Financial_Comp. Chase, Manhat. Bank Chrysler Motors .... Cumax Molybdenum Colgate-Palmolive Oo, Colombian Carbon Co, Commercial Credit Commonwealth floo, Consolidated_Edison Continental Oil of Del. Crown Zellerbach ..
Cuban Amer. Bugar josemonki „Alfa 190 Douglas Aircraft/ Dow Chemicals ..... Dupont de Nembuta Eastern Airine..... Fatman Kodak
X BK Land Humphrey 10.00 10,00 RUBIKER 2011-2016 Amalg ....142.4736 2012-20
UTILITIES 2014-201
From Yeumati,
XD...!!!
Ford Motek C: Light (0) 235 23.50 3000 1300 | General Electric Electrio
General Foods Telephone 24.60 24,70 (3000 0 24.70. | General Motors INDUSTRIALS
General markets, elf basis, ports:
Eatale crepe thin April
Estate crop thick_Apri
AMSTERDAM
283-2535
The rubber market was quiet. Cement
Prices closed today in guilders per kilogram; -of-pilan 101 STOLES, ETC.
ffo. 1 rubber
No.. rubbe
No. #rubber No. 1 orepe
Dadey
8.50 buyers | Lintang Kewo
COTTONS
2.35 buye
3,78 biyen | DIVISI
sited Press.
101
вдо
0.03
100
EPA National Ga FINDSOR, TYTO Rubbler
UB. La Co.
.. Rubber ...
US-Spelting
UA. Steel ...
"Vorner Bros.
Western Union Tel. Co.
West Va. Pulp & Paper Woolworth
—United Prest.
Westinghouse Electric
LONDON, METAL
PRICES
London, Mar, 28, Prices of metals closed today In sterling per long ton as tol- lows:
Tin spot
3-month
Copper spot
3-month Lead 2nd half
Juna Zinc and half Mar June
Buyers Sellers
787
23DEL 240
11214 22332 113
974
„United "Press.
TORIK
NEW YORK METAL FUTURES
New York, Mar. 28. Prices of metal fubires Comed today in bedste per ib, as follows: baad
18.100
Getty Vit
Goodrien (a. İXİ
Goodyear Tyrs
Copp
Gulf ou
Ingersoll-and-
Interchamiani, Corp),
Hevdon. Nev
m 1000 à 8.30 Inland, Steal Co.
(Standard)
10.98-10.98
SOUND ADVICE
for the man with a sense of responsibility
Start a Savings Account this month with
THE CHARTERED BANK (Incorporated in England by Royal Charter in 1858) 3 Queen's Road,
HONG KONG
INTEREST on your money at: 2% per annum, compounded half-yearly. ABSOLUTE SAFETY, for your money.
EASY FACILITIES for lodgments and
5th June
13th July
+
Das Leb
12th May
13th Juná
to ma ADVISIO
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for 'pore. PL. Bwetten- bam, London. Hamburg. Rotterdam Antwerp GTAKEHOUta
ALL VESSELS OUTWARDS AND, KOMIWARDS WILL PROCEED BY THÌ ch on boot. HOPE UNTIL FURTAKE NOTICE.
1858
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