Page
THE CHINA MAIL, FRIDAY, MAY 17, 1957.
Pago g
TRADE and COMMERCE SECTION
Continued Progress On Market COTTON FUTURES New York Sugar
UTILITIES LEAD AS MAJORITY OF SHARES GAIN
By A SPECIAL CORRESPONDENT The Hongkong Stock
perienced another
Markot
week of continued
* The Share Market At A Glance ★
lik Bank Lombard
Inion
+
34,40
.
Up or Down
IRREGULAR
IN NEW YORK
New York, May 16.
Cotton futures today turned irregular after small opening gains lifted the nearby July con- tract to a new seasonal high.
At the close the Hat ruled unchanged to 9 points lower. The market opened up 1 to 7 points." Now Orleans closed off 2 to 10 points.
Apr 11
Apr 23
May B
May 9
1050
1005
1450m
1050
May 10 1048
B
$1146
Job
950b
0100
paob
186 040xd
19
+91
B10
Wheelock
€,00
7.800
7.38
17.85
2.40
150
IIK Wharf
0714mxd
107
110
109
10816m
500
JK Docks
45
4416
48
4.5
steady
Provident
11.00xd
13.30
12.40
13.
13.20
+200
HK Hotels
14.80
13.20
18.40
16.70
--300
HK Lands
3014
3014
3534
24M
$0
+123
OX-
HK Really
1.35
1.40
1.40
1.15
1
+30
HIK Tram
21%
*#13
21.60
29
22.70
+700
137€
150
150%
1850
1150
steady
10244m 103
102
108
105
4-83
21.00
29.20
18.40xa
20.
18.40
18.49
1014
+$1,10
20.40
20.40
3014
+750
24.10
24.70
26.30
25.70
20.60
+900
324
32
324
#K
J
3314
+$1
15xd
14,50
14,60
24.90
14.90
+100
11.00m
11.00
11.00
11.00
12
+10c
5.90b 4.725n
сь
ob
0.10
04
+150
4.00
4.00m
4.50m
4,466
steady
Covering in the spot July delivery wig attributed ΣΟ
10b
10.20
10b
10.20b
10.200
steady
4,70m B.15
4.85m
4.05
4.60b
431
+150
8.10m
6.05
8.10
B
--100
progress with the gains by utilities leading. the rise of the majority of shares.
Shortage of scrip, coupled with the demand for utility shares, has caused the rise in this section.
WORLD RUBBER MARKETS
New York, May 10. Rex rubber contract closed today 25 to 60 points higher with sales of 80 contracto.
May
July
Bepl
Nov.
Jan.
Mpr. Moy
32.40
4.50
31
31.50
31.30
3140
30.00
Standard contract closed 25 to 00 points higher with no sales reported.
May
July
Sept
Nov.
Jan.
Mar.
May
32.40
32.10
3100
31.50
31.30
31.10 30.00
The turnover for the week $4.00 militon compared with $4.15 million the previous weekt, Tally for the week was 15 higher, four unchanged, and live lower compared with the previous week's tally of 111
nine higher,
unchanged and
four lower,
Leading the gainers in utilities) were Yaumat's with a rise of $3 closing at $105. China Lights closed at $10.50, gaining $1.10 the week. Telephones aver gained 50 conts closing at $20.00; Elcetries gained 75 cents closing at $30,25; and Tranis gained 70 conta closing at $22.70.
Cements
ان
Cements shares, which have been slightly undervalued late, tucked $1 on during the week to close at $33.
un-
Lands are finding their own feet again after being necessarily depressed. They
still closed at a low quote of $36, nevertheless this was a rise of $1.25 on the week.
Higher London cables and a Banks and Unions are st limited supply of high-priced lagging behind following their shipment offerings, plus low prices on tho London estimates Market, Banks lost 21 during optimistle production from
all the week in London, giving a the auto industry, combined to put prices on an quote of £94, while Unions were quoted at £58% on the upgrade. A good part of the
London Exchange. trading was represented intro-dealer switching of July/ Sept at 30 points and Sept/Jan. nt 45 points.
ת
in
con- Brokura with London ncolioris also were identified in
Sept/Jan. પાદ
swaps. Trade sources estimated US auto
pro.. duction this
127,270 week at
passenger cars, up 1.1 per cent from last week and the highest output in four weeks. Id the market, brokers re- shipment
ufferings of ported Indonesian
umbers,
cents with and freight, at /June, cost
Singapore
offering the same included
Krade at 2B 4 cents. Thalland ellerings three sheets at 314 cents; four sheets at 30 and five shoots at 284 cents, all cost and freight, Muy/June. Locally spot No. 1 Ites was quoted at 321⁄2 cents.
SINGAPORE
The market opened lower of and later 1 overslag advices, advanced on short covering with sellers reserved,
There was a little factory de- mand, and there was some talk in the market of enquiries for Red China but there was no actual business reported.
Future:
No. 1 rebber par .
JEDNO Juty
01-01%
No. rubber per b. June Duff-901 No. 3 rubber per. Ib. JuNA DUP-807% bio. 4 rubber per 1. June Ba-87 Spot rubber unbaled
017-8144 BO-OT
Elanke! crepe... No. 1 pale crepe........ 90-100
LONDON
The rubber market was quiet with spot unchanged at 36-18/16 pence per lb. Pricts:
Bettlement house term:
Ott/Dec.
2016-27
In
the store section, both Dairy Farm and Watson tacked on gains of 10 and 40 cents respectively over the week.
The Rubber Trust Limited nnounced a profit of $599,836 for the year 1056,
Chief Interest
Flere is an Ice House Street observer's account
the of market:
There was a continuation of the better sentiment which was in
the Evidence during previous week with the result that the majority of prices have made appreciable gains during the week under review.
Chief interest has been contred in the utility scotion which has been active with demand welj· spread. Telo- phones Yaumatis, Elcotrica and Chias Lights were all well supported,
Elsewhere, Lands, Realties, Cements, fotels and Watsons have also malo useful gains.
Banks and Unions were somewhat dull. Rubbers wero quiet and about unchanged.
The underlong has been steady throughout with most rainers closing of the bes
levels.
The overall turnover amounted to $4,688,000.
Market Diary
Siar Ferry
Taumatis
Ch Lights
Electrica
HIK Telephone
G.I. Coment
Dairy Farm
A.S. Watson Yangiszo Allied
NK & FE Inv Textile Corp Nanyang
Industrials Up HONGKONG
To New Highs
On Wall Street
STOCK
EXCHANGE
The far-forward October delivery became relatively easy In face of uncertainties over fate of the soll bank pro- gramme for next year and pending further Washington developments on farm legisln- tion, especially in relation cotion price supports,
to
SCRAMBLE FOR
OIL SHARES
IN LONDON
scramblu for all shares.
Market
New York, May 10. World No, 4 sugar, futures today
closed unchanged to
J
11 points lower with sales of 1,274 contracts,
Domestic No. 8 sugar futures closed unchanged to 3 points higher with sales of 118 con-
tracts
Bellatry by recent buyers
and increased bedre selling put
the world contract on a retreat, although the raw market main- tuined a steady toño,
Dealers understood France is scheduled to enter the muricot next week, for 19,000 Loss. Other reports suggested that Chile also was interested in a rubstantial quantity of raws.
Contract No. (world)
July
8.87
September
13.0-15T
October
6.68
March
Moy
4.35
July
4.30
Spot-cents per lb, tob Cuba) 530
Open Intercet: 8,027 cmiracta.
Contract No. 6 (domestle)
ба
0.94
September November March
London, May 16. dornestic mills, and pointed up Prices on the stock exchange | July reports of an improving inquiry | today was featured by 3 in the textlic market, wherd substantial sales were reported Interest in oil shares was in-spot-cents per lb. cif NY consumed recently
by the ending of the print spired
Canal blockade, Royal united Press.
an
cloths for delivery through the fourth and first quarters of next yoor.
Dutch Jumped 7 shillings" 6 pence, and British Patroleum 8
ex-duty). Opan intercal: 2,264 contracta
shillings, both to now highs LONDON METAL
Other oils moved up frum 2 10
Loan entries for the week ended on May 10 totalled 12,194 3 shittings. balca while withdrawals amount- Industriels went Through 1
ed to 23,010 bales. The net stock | rather routine session with prices of 1958 crop cotton under loanfirm. Rolls-Royce gained 2 ̊shil- totalled 3,089,257 bale.
lings to approach its high, widle
The Agriculture Department Woolworth' added a shilling to has announced it will läke over, reach a new peak. at the close of business on July British Government boods 31, all 1050 cotton under loan were marked down about £%. and unredeemed at that time. Foreign dollar bonds were dull, Tho certificated stock reas were the dollar stocks wheré mained at 11,975 bales.
the premium remained น - Volume Open Interest changed at D per cent.-Untied
Month
May
Our Own Correspondent
July Dusiness done on the Hong- October kong Stock Exchange tis December
March moming amounted to approxi- Ma mately $781,000. Noon quota- July
October morning's trans- ions and the
actions:
New York, May 16. Sparked by individual gains running to more than 10 points in volatile Lukens Steel, industrial stocks rose to new highs since carly last September. Market experts were cheered by the fact that the lagging rails finally got up a head of steam and Bank began moving. The feeling in some quarters now is that the market may make a new assault on the all-time highs set last June G.
Steels, oils, chemicals and air-1 Crown Zelterbach crafts all supplied push to Hic Cuban Amer. Bugar
Diamond kall rise in the Industrials, There Douglas Aircraft were a number of wide movers Dow Chemisi
the session turned into 05 joyous one for the bulls,
Dupont de Nemour Eastern Airling .... Eastman Kodakt
El Paso National Que The olls moved higher into Family Finance Corp.
Tiresme Tyre & Rubber after 17 major oll produers an-
Ford Motor nounced in London plans 10 General Electrio build a pipeline circumventing General Fooda the Suez Canal, Shell Oil up General Motors Gen. Pub. t. 21% and Mission 24. Amerado | Getty ou climbed 2%. Gulf addeų 1. Glidden Ch.
Goodrich BP.) Cu. Goodyear Tyre Gulf O
Optimistic
The whole market was buoyed by the steadily increasing flow of optimistic economic forecasts. The concengus is that the reonomy will hold around 119 present high level for a while and then inove higher.
30%
Eart Aula ..
INSULANCES
Union
00% Humplaneya
Total
1,900
0,100 104200
7,000
172,000
102200
170300
4260
101,900
4,900
100,000
3.700 58.200
4,500 £3,000
$3,500
NEW YORK
040,800 balen
Prices of cotton futures closed
Press.
*
36.35
25.06
33.86
33.38
33.94
33.90
31.18
31.57-8!
*
NEW ORLEANS Prices of cotton futures closed today as follows:
LIVERPOOL
pence per lb. were as follows:
PRICES
London, May 10, Prices of metals closed today
In sterling per long ton ast follower:
Tin кров
3-month
Соррет вре
3-month
Buyers Beliers
304
100
761
330
Lead and half May D
Lend 2nd
half Aug
Zine 2nd half May
Zinc 2nd half
Preves
P2O B•I
B∙I│E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Leaves London
Kailed 14
Due Hongkong
But
y
Ein May
15 July fyla Sex)
3rd July
2001
July
TO BE ADVISKA
Via Southampton, Columbo, Petang & Slugapore.
Uue London
abarcs
BANKS
Buyer Sellers
Sales
today as follows:
4040 1065 20 1045
200
Spot
July
Okt.
DUA
0405215
Doo,
Lombard ...
Mar
May
9716
SHIPPING Wheelock.
July
11.35
7.48
2000 @ 740
Qot.
DOCKS, ETC.
K, what.. Dock
107
200
4431
100 @ 45
500 68 46
201
Provident..
130 150 2000 ở là 20
Sput
DTI
500 29.20
Jity
Oct.
30
2412
LAND, ETC.
Dec
HK Hotel.
168.00
1000 10.00
Moc
Uutwards "CANTON"
Land
30+ 1310.1 1.30
10.40 16.50 1000 $14,30
0 1 20
Muy
711
July
Oct.
33.18 33.05
"CORFU**
"CALTHAGE"
1500 à 15.40
2000 10.50
"CANTON"
Realty 1.4734° 1,50
Cotton future closings,
in
UTILITIES
サイ
1471%
Homestaka Mining Co.
*TTAI
22.80 2120 2100 23,80
104 106 Yaumati
341103 100 105 CLARGE (0) 18.40 18.00 4000 101
(R.) 13.40
Old contract
May/June
July/August
20.30 20,43
Hotnewards
"CANTON"
October/November
20.20-27 27
"CORFU
Ingersoll-Rand
Elecüla ...*** 30%
g000 3055
20.23-20
CARTHAGE"
13
Macao E. ... 01 Telephone 28.00
30
100
314| INDUSTRIALS
มา Cement
33% 13.50 STORES, ETC. 4612 Dairy 14.90
34 1000 £ 33
10
10 1000 1400
400 F 15
lows:
July
33
500 14.30
October
(Ain.
10% Watson ... 11.00 37% COTTONS
JE 2000 13
December
March
May
Taxtile... MISCELLANEOUS
4.70 4.75
Entert
18
Allled
4.40
I.K. & F.. Invest
10.20
Heyden Newport Corp.
eland Steel Co. interchemical Corn, Int'l Business Machine inti Harvester international Nickel international Paper in 201 & fol John-Manville Co Kansas C. Power & Light Kennecoti Copper Liggett Meyers Tob. Co The most active issues were Lockheed Aircraft Benguet, Hupp, Bethlehem Low Incorp. Steel, Lukona BDd Oline Star Comment Co.
Lowenstein & Sons, Mathieson,
McDonnell~Aircráti
Block Exge.) closing Mesab! Iron Corp.
Minnesota Mining
The Dow-Jones
nycroges showed industrials Mission, Development up 2.86 at 504.04-a new high Monsanto Chemical Co.
ince Sept. 10, 1000; ralls up Montgomery Ward 1.36 to 147.49; utilities up 8.22 Motorola Inc.
National Cashi Beg. “A at 74.00, and 85 stocks up 1.08 National Dairy Prod. at 176.17also the best since National Lead
National Steel Corp. Sept 10 last year. Sales totalled New York Central 2,080,000 shares against 2,390,000 lin shares yesterday.
Of the 1.151 Issues traded to- day, 521 advanced, 381 deelined and 209 were unchanged. New highs were set by 68 stocks and
Here is a market diary of the new lows by 25,
week: Friday: Interest well spread. T/O: $1,- 374,000, Fractional
T/C: $710,000. Remained T/O: $258,000.
gains.
slendy.
Monday:
Tuesday:
Wednesday: Ruled steady
No. 1 Ras spot
Juna
July/Sept,
Jan/Mar
April/June
* General markets, olf bazİZ
May
Thursday
Juno
July
Petalo crepe thin June
Estato
ly
пере thick June 3 AMSTERDAM
The rubber market was quiet-
steady. Prices closed in guilders per kilogram, cif June De follows:
No. 1 rubber
No. 1 rubler
No, 3 rubber
No. 1 crepe
throughout, T/OI $551,009,-
No material change, T/O: $1,075,000.
London Foreign Exchange
2.7036-2.70.15/10
Ota Elevalun
Owen-Minola Glass Pacle Gas & Elec. Pan American Airways Paramount Pictures Parke Davis Co. Penny J. C. Co Penn. Salt Co. Philip Morris
Procter & Gamble Ca,
NY Stock Exchange bond Pittsburgh Plete Olas
volume was $3,500,000.
American Stock Exchango volume was 1,380,000 shares.
Closing Prices
Alden Inc. Acy.....
Allied Chemicals Allied Müls Inc. All Chaliners American Airline American Cable
Cory.
Pawzcan Cyananide Co.
Foren Power Am. Mach. & Fdry. American Metal ......... American Emelding Am. Sugar Raf, American Tal
American Tob. "I"
Anaconda Copper
2.08.7/16-2.069/10 | Armco Bletí ........
London, May 10. Closing rates were: New York 2.02 buyers Montreal 2.00 nom. Amsterdam
Zetmeli 2.58 nom 3.01 buyers Frankfurt
United Press.
New York Foreign Exchange
New York, May 10.
Closing rate were:
Canada England
H
Bouth
Labor
10.034-10.05) 140.70-260.75"
11733-11.73% 09.05.00.10
1158.17589 39.0044-20.00
Ozio Paria Stockhola Vicha Zuek
Qthane unotsenged/wilęlind Prem.
FILIO HERST-LI
Exchange Rates
Arinour
Atlas Cona Mining Baldwin-Lima-Haru,
Haitimore & Ohio
Beneficial Finance Dendix Aviation Corp
Benguet Cona.
nethlehem Steel
Doving Airpalato Borden (The) Co
Burrough Adki, Machtra Canadian Photo it. 4. Case (J. 1) Co.
CAT, TYREUDr
Clines Corgi
C. L. Boconá Corp.
Chase Manhat, Berik Chrysler Motorm **** Cimex Molybdenum 4.30 Opinto-Patinalive Co.
Celemben Carbon 99. Commercial Condis Commonwealth Kinc. Consolidated Bidason ... Contact Ol of Del
Business was done in the local 1,06-31/39 | 1pionirel axchange market
this morning at the following estos: 292-11/16| 18. doine (per 311 and
*-1/13 Sterling noten "(per (61)
„Aumtesian, notes (per 41). Indracsien supiah (per 1993. Salgazare - (Diskakte)
Press
· Publieker Industriou Pure O**** Radio Corporation Republic Step! Reynolds Metal Bhall Out Co.
Saint Rég, Paper Sinclair Oli
Socony Mobilit
Solar Aircraft
South Puerto Rico Sugar
Bouthern National Clar
Bauern Nallway (Com,3
Viji i standart Branda
29
Blandard Oil of Ca)
35) | Standard Oil of Ind
1815 | Biandard Oil of H-J
Sleep Rock (Toronto Exge.
Sterling Drug Co.
Stokely-Van_Camp.
Studebaker-Packard Corp.
2016 Swift & q.
Texas Co.
4
81
16
201x
1785
Union Carbide ......................
*
00%
Union Pacific Railway
Tide Water Asm. Oif
Twenty Contury Fox Film
United Aircraft
3. dypum
TUS. Line Co.
151
49
US. Rubber
Smelting
US. Steel
The Warner Bros
Westinghouse Elec
4931 Western Union Tel. Co
Werl Va. Pulp & Paper dőty | Woolworth
110 Rope
United Press.
NAMESAKES
Answer:-1 Friends, 2 Strings,
3 Baton. 4 Count. D. Pissiqato, d Lungenkmurg Tunes, B OT. chwein,-8 Curtain, 19 Morry,
Frate Ember.
Nahyang...
400 kr 3015
27 2000 € 20.00
.200 @ 27 1500 @ 20.00
400 37
December/January March/April
New contract May/June
July/August
October/November Pecember/January
March/Aprit
SAO PAULO
closings, in cruzeiros per kilo were as fol-
Н 8.13 2000
11.00
400 ở 1B
500 @ 4418
Cotton future
38.70
40.40
40.00
41.43
40.10
the In the United States, average price of one-inch cat- ton at 14 designated spot mar- kets was 83.06 ccrts.
Total sales at these markets was 22,683 bases.---Ünited Press.
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 Rond, HONG KONG
• INTEREST on your money at 2% per annum, compounded half-yearly.
• ABSOLUTE SAFETY for your money.
• EASY FACILITIES for lodgments and. withdrawals.
Leaves Hongkong
June
TO DK
ADVIED
"CANTON"
13 July
10 August
13th September
Via Singapore, Penang, Colombo & Aden,
FREIGHT SERVICE
1036 28th May
for S'pore, Pt. Swellen- Penang. han,
Aden. Havre, London, tint burg, Rotterdam. Ant- werp & Orangemüoth
from U.K. (Via Suez)
from UK. (via #uez)
"BURAT"
2
"SHILLONG" due 20th: June
dn. "SUNDA"
4th July
BRITISH INDIA S.N. CO., LTD.
1858 A HUNDRED YEARS OF SERVICE - 1930 "FULTALA" in Port
salls 10th May "WARORA” dus 21st May
walls 22nd May
"SANGOLA" due 20th May salts 27th May
from Chittagong, Ran Roon & Singapore
IDr Japan
from Japa
for Singapore, Penang. Ilgadoon,
Calcutta
СМАКОТА
from Japari for Singapore, Penang. Itangoon de Cileutis
· P. & 0./8, 1. JOINT SERVICE
"TTRIA"
"DERA"
In Port falls 10th May
due 2nd May salis 24th May
· KUMARIA” due 25th May
sa 611 May
"URLANA" de 8th June
watts Bin June
from Japan
[or Singapore. Bombay Karachi, Baaral, Hhoz ramshatir & Kuwait
from Japan for Singapuh, Khor-
Bombay, Karachi, ramhane & Huwali
from Bombay, Cochin, B O'pore tor Japan.
from Karachi, Bombay, Cochin & Bingebore ter Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLORE doo th June "ABAFURA"salis 10th Jun
from Australia
for Labuan, Sandakan, Itabaul. Brisbane, Syd- ney
Melbourne Adelaide.
All vessels have liberty to call at any ports on ar off the route & ike zonja, de axlilogu are subject to change or amendment wild or without notice.
For full particulars apply to: MACKINNON, MACKENZIE & CO. OF HONG KONG LTD, Telophone Nos: 27721-4.