THE CHINA MAIL, FRIDAY, MAY 8, 1957.
Pago
TRADE and. COMMERCE SECTION
WHARVES HAVE SPECTACULAR RISE COTTON FUTURES
Market Closes ★ The Share Market At A
On Quiet And Steady Note
By A SPECIAL CORRESPONDENT Hongkong Wharves had a spectacular rise on the Hongkong Stock Exchange gaining $7 on the week when the market closed yesterday on a quiet and steady note.
The turnover for the week was $3.26 million with a tally of eight higher, seven unchanged and nine lower as compared with the previous week's tally of ten higher, five unchanged and nine lower. A leading authority en whart Here is a market dlary of the shares this week told me that week: he did not think there was any 171 the "cornering operation" market on Hongkong and Row- loon Wharves shares,
It will be recalled that Utis Friday:
rumour
กร
Current
the
market last year when Wharves
Market Diary
were making sharp weekly Monday;
reported Shargha Tesday:
rizes. It WIEN then tint
11
leading
businessman now ifving in the Colony was behind the opera- tion.
Brokers said yesterday the reason for the share's continued Improvement wat largely due to good business
Blue Chips
Docks and Provident are also up, the latter gaining 25 cents on the week and the former 10 cents. Provident announced an unchanged dividend of $1 per share and a profit for last year of $1,512,022.
Blue chips are still attractive -Telephones cloned at $29 30,
week, gain of 60 cents for the and Electries einsed at $20.40. galning 40 cents over the week --but prices are expreted Lo level off soon.
Yields for Elec- nt and Telephones
༡་ cent, while Trams
per and Youmalls are 8 per cent.
Hat akong Banks lust $15 for the week giving a
a middle Unions los: $10 while
trics
present
Wednesday:
Thursday:
Moderate scale trading. T/0:
$084,000.
led Meady. T/O: $700,000.
Modernte
trading.
TO: $787,000.
Dull throughout. T/O: $328,000.
No material change. T/O: $702,000.
HONGKONG
STOCK
EXCHANGE
(From Our Correspondent)
HIK Bank Lombard Union Wheelock HK Whart
3744b 945m
Glance
May 2
Up or
-$16
WORLD
RUBBER MARKETS
HAVE DULL DAY: NO INCENTIVES
New York, May 2.
Cotton futures trading was dull again today with prices moving narrowly on either side of the Rox rubber futures today previous close.
New York, May 2.
'Mar 28 1815
Apr 4 1685
Apr 11
Apt 25
Down
1050
.1005
10500
28 9470
6,70
6.05
38 9506
6.00
373áb
38b
+750
0706
весь
$10
7.40b
7.36
101
101m
HIK, Docks
40%
44%
0754mxd 45
103
110
4434
4474
+260
Provident HK Hotels
13.208
13.208
11.90xd
12.20
12.40
+100
closed
19.70b
14.40
14.40
14.80
10.20
+406
13 to 25 points lower with sales of 97 contraAÍA.
HK Landa
30%
30
35%
3514
3544
-250
May
32.30
July
31.05
HH Rexity
1.35b
1.35b
1,36
1.30
1.40
140
steady
Septeinber
31.00
HK Trams
2180
21.50m
2134
21,00
+100
November
31.57
Star Ferry
138s
137a
137
130
1306
steady
January
31.12
At the clow the ist ruled un«, Prœember changed with only two months traded. Including the bid prices, July the list was unchanged to 13 October
3,000 158,100
March
5,000
94,300
MAY
200
41,100
March
102xd
103
102m
103
102
-$1
May
30.62
tower, New Orleans futures also finished unchanged,
Trial
38,200
103,000 bales
NEW YORK
22.00
22.40
21.00
10%
18.40x
18.40
steady
The standard
contract closed
Prices of cotton futures closed
29.70
20.20
23.20
20
29,40
HK Telephone
24.70
24.00
24.70
24.70
26.30
1000
+400
13 to 25 points lower
day as follows:
apot
sales reported.
May
33
3244
3234
$244
121
stendy
May
32.30
16.10
15xd
14.80
14.00
July
31.80
day.
July
11.80
11.70m
11,60m
11.00
12.80
steady
Beptember
30.67
A request by
October
Agriculture December
November
31.37
5.85b
5.00
сь
Ob
#leady
Jattery
31.12
Secretary Benson that Congress | March
4.7251
*25m
4.72511
4.60
4.50m
-100
March
10b
10.20
10b
-200
May
30.03
move toward a freog
markot May for crops, and away from the October
July
4.70m
8.15
4.05mm 8.103
4,65
steady
NEW ORLEANS
8.05
Youtub Ch Lights Electrics
6.1. Cement Dairy Farm
A.B. Watson Yangtze Allied
HK & FE Iny Textils Corp Nanyang
9.80b
4.725m 8.20
10b
4.70
8.20m
TURNOVER UP
ON NEW YORK
MARKET
New York, May 2.
Strong Buying
On Bank
Rate Rumours
London, May 2.
This morning the shadow of Mr Butler hung over the stock market. Back on May 13, 1954, Mr Butler, then Chancellor of the Exchequer caused bank rate is be lowered from 35 per cent to 3 er cent. This mode the money supply cheaper to
30.07
Now incentives again were
with no lacking and sales ran below the
34,200 contracts trazied yester
30,07
Futures trading was a rather mandatory price supports and dull affair today with prices Ught production controls, which Prices of cotton futures closed casing in line with lower Lon- | he said, “are not working" fail- today as follows: don cables. There was a fair od to stir any action
amount
in the Spot
Mas of dealer interest un market. Traders termed the ro
July derlying the physical market quest as "indefinite."
October but
There were 4ive May trans- December nothing developed. Ship
ferable notices issued at Now March ment offerings were fairly close Lo New York levels
York today and they were re- May but not.
July ported stopped by heavy. Spot No. 1 Ras Was
spot firm. quote nt 321⁄2 venta,
Evening-up operations in the May delivery continued around the 35.28-cent. line.
SINGAPORE
It
The market opened higher on better overTICAS advices and eased slightly on May liquida- lion. Futures;
Na, rubber per lb. May DI-DAY. June 1-3
H
No. 2 rubber per ib. May 902-00 %. No. 3 No. 4 spot rubber unbaled Blanket cropo
No
1 pale crepe
LONDON
leading October
The distant October delivery continued to, move over a wide range and was down more than 10 points.
Certificated cotton stocka continued at 11,322 bales.
Month
Fr
017-871 01-0114 81-83
MAY
July
October
DT-90
Oil shares, steels, chemicals and rails met de- mand which boosted stock market values close to'a billion dollars on more active trading today.
Early gains of a point to more than 3 points, borrow and the stock market with spot quoted at 27 pence, which lifted industrial stocks into the 500-level in their average, were pared only modestly by last- minute realising.
Industrinis stosed al average 408.80,
SUEL
.80
Hyden Newport Ingersoll-Rand Inland Steel Co.
up 2,80 points and at their best since Jan. 3.
Interchemical Corp. Rails, with numerous gains Int'l Business Machines
Int'l Harvester around a
up point, ran
Internations! Nickel points
147.02 and utilities International Paper climbed 13 to 73.40, their best iinti Tại & Tel level since Oct. 8, 1930. The 65
composite
rose 30
to
1414 BD
boom
which followed was a memorable one.
The rubber market was duli
Prices:
No. 1 spot ... 2014-271% Settlement houe term:
June
July/Sept.
Oot./Dec.
Jan./Mer.
April/June
General markets, cif basis,
Would Mr Thorneycroft follow a similar pattern and causo bank rate to be lowered today from 5 per cent to, my, 41⁄2 or 43⁄4 per 7911 cent?
Many believed he in- tended to do
Mary so but he didn't and there was plenty of buying on the theory that sooner inter he would do it. Industrials 4 were
and very firm
moved higher by six pence or a shilling.
59914 2414
20194
Jurro
July
or
Estate crepe
Shin May
thick June
AMSTERDAM
2871-27
2014-201
2016-201
2014-201
The rubber market was very Quotations were
fact that some of them are find-quiet today,
29 | unchanged since yesterday. - Ing costs high and profits lower United Press.
John-Ma.ville Co.
day.
Business done on the Hong-stock kont Stock Exchange this 174.52 best since Jan. 10.
to amounted morning
The trading pace picked up proximately
Noon to 2,800,000 shares, best in $392,000,
the morning's week, from 2,310,000 on Wednes-Lone Star Cement Co. quotations ond
tranenctions:
to
Kansas C, Power & Light Kennecott Copper Lett Moyers Tob, Ca,
116
00
Steel shares and engineering
Labs Mathieson
17
in cheerful disregard of
tho
0
Lockheed Aircraft
Loews Incorp. ....
17
of $1.050.
Share
Buyers Helleru,
Bles
$950.
Monk
from
1040 1000
240
£40 Bio
Z Q
sio
and closed with buyers offering BANKS
Banks are down to £00%
200
London, while
Union Insurence remained 131- changed at £6014.
In the stores section.
Dry
Farms lost 20 cents on the week close at $14.60. whic Watsons remained unchanged 24-
to
"Hvidend of $120,
antuneca
Anet Ada INSURANCES Theop Lamdard SHIPPING Wheelock
Favourable
Market analysts termed the action increased turnover on the upswing, only moderate re- sistance
at the 500 level and the ruil
curry-through-- highly 7 43 4050 - 7,40
4000 745 favourable. DAN VI 75
10
441% 4814
DOCKS, ETC.
Electric announeed an
К. W tart
Duck
..
Rubber Trust
&
12 30 12.40
compared with
HE Hotel HK Land
10.30 10.30
35 301
10.40
10,40
1.376
dividend of 15 cents for 1958 as
previous year.
20 cents the Profi for last
LAND, ETC.
Really
year was stated as $589,836 Aspreys against the previous year's one of $1,482,093.
Consistent
Here is an Ice House Street
Observer's
market:
account
Generally qulot
grevailed during
week and although
RUNDER
Amalg
TALITIES
Train
1,325
nels were
Oils, reflecting the numerous growing first quarter reports by oil companies, had gains 100 1200 ca 100 100
over 3 points at the 500 445 close although anal 600 12.40 below the day's best.
Royal Dutch was the day's 10.40 second most active issue, topped only by Bethlehem Steel.
200
3.40 10000 1,375
Of 1,174 issues traded, 592 were higher, 328 lower, 254
1.56 12000 @ 1.535 unchanged with 102 at new
highs, 20 at new lows.
Stock Exchange volume was $4,130,000,
Stock American volume was 1,080,000 shares.
Dow Jones closing 100 10.40
NY 21 21.00 2000 a 213
Star Ferry.
1:20
Youspati
102
104
950 21.60 300 103
of the
Light jờ).
X A 18,30
500 8.40
the
conditions Electric
20.10 29.40
0.36 pasi Macun E. business Telephone
was on a moderate scale only; | INDUSTRIALS
were
Cerment
Lowenstein da Bone.... McDonnell Alteraft (Ain,
Stock Exge.) Meahl Iron Corp.
Minnesota Mining Marion Development Monsanto Chemical Co. Montgomery Ward Motorola Inc. National Cash Reg. "A" National Dairy Prod, Nations Lead National Steel Corp. New York Central Q1 Elevatore Owen-Ditriols, Gips Pacife Ges & Elec.
Pan American Airways Paramount Pictures Parke Davis Co. Penn, Salt... Penny C Co
Philip Morria
Procter & Gamble Co, Pittsburgh Fisto Glane Publicker Industries Pune Oil....
Radio Corporation Repubile Steel Reynolds Metal Shell Oil Cu. Saint Reg. Paper
bond
Exchange
Binclair Oll
Soory Mobiloil
Solar Aircraft
averages
Bouin Puerto Rico Bugar
Southern National Gua
WOTE!
25.40 2015 2500 12 25.40
30 industrial
408,50
Boutham Railway
(Com
20 Tall
147.02
Standard Brands
Standard Oil of Cal
23 Uulties
13.40
68 stocks
174.52
Standard Of of Ind.
сол
13.19
40 bande
90.02
Standard Oll of N.J.
Comen. future price index..
104.83
Sicep Rock
to
week
1 steun Lone. C. Kwong S. 11,
14.00 14.70 20000 # 14.00
113 11.70
31 1.00
4.00 4,10
$
8.20 2000 ↑ 1.53
Aliled Chemicals Allied Mills Inc. Ailis Chalmers ....... Ar. & Fore Power American Airline
17,40
turnovers
$700,000 around
with the total amounting
daily sistently
$3,201.000.
The feature
of the has been the spectacular rise
Rope STURES, ETC.
Dairy
In shares of the Hongkong COTTONS
and
Kowloon Wharf Godown Company,
and which
Textiles Nanyang..、
advanced steadily under per- MISCELLANEOUS sistent demand to close
Vibro
En.ert at $110, 8 higher than the pro- INVESTMENTS vious week.
Hotels came in for Nomo cents
attention and closed 50
higher.
Telephones
$25.20
Yangtze .. 0 0.20
Allied
to advanced
4.45
4.05
125 10
under fresh support New York Sugar
while Electrics seemed more
cheerful than of late,
Dairy Farms on the other
hand lost some ground for no
particular reason,
Watsons
hayo Cemente
Market
New York, May 2. been World No. 4 sugar futures steady and are virtually un-closed today 8 to 18 points
and
changed.
Unions
higher with sales of 1,885 con- have tracts. little
Banka, and been quiet and show change.
Wheelocks closed fractional- ly lower on light scale profit faking.
Werd
Domestic No. 4 sugar closed 1 to 4 points higher with sales of 150 contracts.
World futures
up as much as 20 points at one time sogtion, with the buying attributed to been technical factors following re- frac cent sharp decline. The sharp rise in world futures firmed the domestic contract,
the rubber Aumigamated have moderately active A$ tionally higher levels.
Elsewhere there is little- note to report but the under- tone Isa troet, quite throughout.
of
"Isteady
NAMESAKES
Answers--1
July
Contract No, 4. (world)
Heptember October March
MAY
July
Closing Prices
Sterling Drug Co.
Stokely-Van Camp.
Studebaker-Packard Corp.
Bwitt & Co.
Техав Со
* 50 Tide Water Asst. Ou
Cable & Radio Corp. Americans Cyanamide O. Am. Mach & Páry. American Metal American Smelling American Tel & Tel Amertean Tob, "B" Anaconda Copper Arco Steel Armour
Atlas Cons, Mining Baldwin-Lime-Haiti,
Haltimore Oblo Beneficial Finance Bendix Aviation Corp. Benguet Cone.
·Bethlehem Steal Boeing Airplane, Borden (The) Co. Burroughs Add Machine Canadian Pacific R.
Case (J, X) Co. Cat. Tractor
Celanese Corp.
C. L. T. FINncial Cory. Chase, Manhat, Bank Chrysler Motors Climax Molybdenum Colgate Palmstive Co. Colombian Carbon Co. Commercial Credit Commonwealth Elec. Consolidated 2xlison continetrial Oil of Del Crown Zellerbach Cuban Amer, Bugar Diamond ARIT Douglas Aircraft Dow. Chara Dupont de Nemours Eastern Aldine.
429-37 Karan Kodak 0.37-30
September Spet (nents par ib fob Cube)' wan
Contract No. @ (domestic)
Catapult, Engines, 3 Rocks, 4 Anatomy, 5 Gallery 4 Supper, 7 Diagram, July Invention, 9 Code, 10 Machine,September
11
Aviation, 12 Wings,
13 November
ex-duty)
Painting, 14 Sculpture, 15 Veina,pollonte per lby df 1
Loonardo Da Vinci.
alted, Prées.
AVPRIS Kauforial Clas Family Tanios Corp, Firestone Tyre & Rubber Ford Motor MAN General Klectråd - General - Fonda
General Motors den Pub. U; Chetty Oil Chines: Co. Goodrich (3.7j Goodyene
Horridstake Dang
2416
Twenty Century Fox Film
Union Carbide...
Unter Faciño Radway
181%
United Aircraft
20%
1.6. Poll
31. GYDrum
UB Line Co.,
0214
U.9. Rubber
ราย
US. Smelting
76.8, Bleel...
Warner Bros.
3334 Westinghouse Electric
Western Union Tel. Co. West Va. Pulp & Paper Woolworth
Sa
34
-gencrally moved upward,
Motor shares were firm on news
of overtime working at one of
the big plants of British Motors, BANK OF CANADA
Olis were strong with Canadian
nearly 4
ahili.
Royal Dutch and British Petro- 3 shillings & pence and Lourn up 3 1239% Shell up ณ shilling. Suez Canal lost 1/3 sterling to 4915. Foreign bonds scarcely stir- The Japanese 19078 non- asserted improved sterling, the only one that budged,
Dollar stocks were marked up moderately but their pre- mium remaining unchanged at
021
rod.
49
»United Prem.
London Foreign
Exchange
London, May 2. Closing rates were: New York
27996-3.79-7/10 Montreal
207-2.01-7/16 Ametordum
-141.00–141.07
Copenhagen Fronkhirt Milan
Stockholm
Zurich
19.4091-1945
11.70-11.763
1700-1700
14.677%-14.00
Other unchanged, -United Prom.
New York Foreign Exchange
New York, May 2. *Closing rates weres,"
Cetada England
Australla
New Zealand Bouth Afr
8 per cent.-United Press,
Exchange Rates
the locat thir
Businions was done in unofficial
market exchange morning at the following rates: U.S. dailer (per #1),
Sterling notes (per 21) Australian noter (per £1)
100)
Indonesian rupiah (per Siam tical (per 100) Singapore (@trails)
HAS RECORD
INTEREST RATE
Ottawa, May 2.
The Bank of Canada in- terest rate rose to a record 4,01 per cent this week, .01 per cent higher than the record high-reached
on
February 14 and equalled lash
the week, Central Bank reported to- day.
Volume Open interest
3,300
D3,700
1,800
172,700
4,500
170,000
LIVERPOOL
Colton future closings, in pence per ib, were as follows: Did contract May/June
July/August October/November December/Janitary March/April
Now contract
May/June July/August October/November December/January March/April
United
P.OBIE.A
COMPANIES
PENINSULAR & ORIENTAL S.N, CO.
PASSENGER/FREIGHT SERVICE
Outwards "OHUBAN
"CANTON"
"CORFU" "DARTHAGE"
*
*
Leaves London Salled
Due Hongkong
711 May
30th May
20th May
0th
July
5th July
Via Southampton, Colombo, Penang
Homewarde
To be advised
Leaves Hongkong
"CHUSAN” "CANTON" "CORFU"
12th May
"
du June 13th
July
+
*
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Singapore,
Due London
12th June
13th July
To be advi
Via Singapore, Penang & Culombo, FREIGHT SERVICE
**
"SURAT" "BURAT
In Fort
well
The mio is fixed at one. per cent quarter of one above the week's average treasury bills. which rose to 3.70 2.75-Beuter,
frum
*
*
203
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% annum, compounded half-yearly. per ABSOLUTE SAFETY for your money EASY FACILITIES for lodgments and withdrawals.
*
loads 20th May
from UK.
for S'pore, Pt. Swetten- Lorian, ham, Havre, Hamburg, Katlardan,
Antwerp & Grange- mouth.
ALL VESSELS OUTWARDS AND HOMEWARDS WILL PROCEED BY THE CAPE or goon HOPE UNTIL FURTUKA NOTICE.
BRITISH INDIA S.N, CO., LTD. 1856 -- A HUNDRED VÉÅrs of serviCE – 1938
8th May
from Calcutta, Rangoon "BANGOLA” des
Be Straits. sails Of May тот Јараа "FULTALA” doe 17th May
salia 18th May "WARORA” due 21st May il 22nd May
"BANGOLA" dur Bih May sails 27th May
from Chittagong, Ran- goon de Bingapor Ter Japan
from Japan
far Singapore, Penang, Flangoon, Calcutta Chittagong
from Japan
for Singapore, Penang, Rangoon & Calcutta
P. & 0./B. I. JOINT SERVICE "ITAURA" das 421 MAS
malia Uth May
"TTRIA"
de 15th May salis 17th May
“UMARIA", dan' 17th May - pakke 19th May due 20th May alled May
"ОВДА"
from Karachi, Bombay, Cochin & Singapore for Japan
from Japan
for Singapore, Bombay Karachi, Barsh, Khor- ramshahr & Kuwait from Bombay, Cochin,
B'pore for Japan
from_Japan
for Bingapore. Bombay, Karachi, Barah, Khor. ramshahr de Kowalt
EASTERN & AUSTRALIAN S.S. CO., LTD.
"EASTERN" due 8th May sala 0th May
"AKAFURA"due 8th May
natim rith May
from Japen for Labuan, Sandakan, Rabout,, Drabane, Byd- ney. Port Kumbia, Mel- bourne & Adelaide. Fern Australia for Japan
'All vessels, have' itherty woʻcilat kay porta on
of off the route às the route ai sužmet are subject; to change or sinendment with or without notice.”
For full particulars apply to: MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos: 27721-4.
*
+
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31