THE CHINA MAIL, FRIDAY, MAY 31, 1957.
TRADE and COMMERCE
SECTION
LOCAL MARKET GOES DOWN
Most Utilities
an
Lose During The Week
By. A SPECIAL CORRESPONDENT
The Hongkong Stock Exchange closed
a steadior note yesterday recovering from its mid-week losses.
The majority of the utilities were down on the week with China Lights leading the decline.
during Tuesday:
Wednesday:
Lights lost 40 cents the week, closing at $10; Elec- tries lost 20 cents on a quote of $30: while Telephones closed at $27.10, a loss of 30 cents on the Thursday:
week. Trams lost 20 cents with
a sale yesterday of $22.70.
Most, however, have recovered ilghtly from the lower levels
carlier this week.
་
Bright Stock
The only bright stock of the
weck was
Nanyang Cotton, which gained 30 cents. closing with a sale at $8.55.
Hongkong Banks and Unions were very soft. with traders taking Httle Interest in then.
As from last Wednesday quotations for Union Insurance
on the Hongkong Market were for £1 shares.
The majority of the other stocks all had losses.
The turnover for the
werk $1.05 W03
million compared with last week's turnover of $3.58 million. The Lally was tour higher, five unchanged and 16 lower, compared with seven higher, six unchanged and 11 lower the previous week.
Quietest
interest.
scale.
Lacked T/O: $210,000, Restricted T/O: $257,000..
No material change.
T/O: $522,000.
HONGKONG
STOCK EXCHANGE
Our Own Correspondent Business done on the Hong- kong Stock Exchange this moming amounted to approxi- mately $363,000. Noon quota ions and the morning's truns- | octionis:
Buyers Seller Baler
2033 1050
Shares BANKS UK Bank INSURANCEs
SHIPPING Wheelock DOCKS, ETC. K. Wharf
200 g 01
7.75 7.40 11000 @ 7.40
100 100
Provident . 136 120 observer's account of the market: LAND, ETS.
The Stock Market
Here is an Ice House Street Dock
experi-1 Hotel enced one of ite quictest UK Land weeks of the year with
Humphrey the Really overall turnover only amount- RUDEN Ing $1,049,000 a reduction Amaig. of nearly $2 million.
3514
IIK Bank Lombard Union Wheelock IK Whart
★ The Share Market At A Glance ★
Up or
May 2
May
May 18
May 22
May 30
Down
1650m
1650
1045
1045
1635
+$10
18b
28b
39.
370
3711
sicady
030b
940xd
230
D30
02.
7.35
7.55
• 7.40
7.46-
7.36b
-190
110
169
HK Docks
444
45
1081⁄2m
45
107m
100m
690
4
$1.00
Provident
12.40
13
13,20
13.15m
13.30
IK Hotels
15.20
15.40
16,70
15.50
15:40
-100
UK Lands
3514
344
30m
3534
---500
JIK Really
1,40
€1.45
1
1.475
1.436
20
FIK Trams
21.60
22
22.70
22.90
22.70
-200
Star Ferry
136%
185n
1350
131b
1850
Yaumalis
10%
102
105
100
104
Ch Lights
18.40
18.40
19
19.40
10
-200
Electrics
29.40
29.40
30%
304
30
250
HK Telephone
26.30
25.70
26.00
27.40
27.10
--800
G.L. Cement
3214
$214
3314
384
3274
450
14.60
14,80
14.90
18
1490
-100
11.60
11.00
思
11.80
11.80
steady
ob
4.10
GV
6.200
014
+Bo
4.50m
4.50m
4.45b
4.475
4.475b
steady
10b
10.20b
10.20b
10.201
10.201
steady
4.65
9.05
4.60b 8.10
492
B
4.725a
-2440
8.25
8.55
+800
Dairy Farm
A.S. Watson
Yangiąze
Allied
HK & FC Dy
Texillo Corp
Nanyang
WORLD
RUBBER
MARKETS
Singapore, May 30.
The market opened dult and featureless throughout the clay. There was scane swall factory buying and little covering för China of lower grudea, July, Prices:
No. 1 rubber per b. June 0914-391%
July pn-301
825%-80%
39-843 Spot rubber unhaled ... 80 spl Finnket crepe...
82-84 No. 1. pale crepe .... 07-99
LONDON
18+
steady
GENERAL BUSINESS SITUATION IN UNITED STATES
By HARRY VANDERNOOT
Washington, May 30.
STEADY BUYING
ON LONDON EXCHANGE
London, May 30. Markets had a very busy day with the tape reveal- ing steady buying.
Mala factor making for cheer. fulness was the Chancellor's promise that income tax would be lowered one of the thean days. This made British stocks looic rather more attractive aud there were rises of ond-sixteenth or one-eighth. However, all suffered Dimble profit-taking and closed below their best.
INDUSTRIALS
Industrials moved slowly up- wards, gaining from 6 pence to
1 shilling 6 peace. Alfred Her- bert, Ltd., machine tool makers, Jumped more than 3 shillings, | almost regalning its earlier pealt,
Turner Newall also shillings
ར
Olls were firm though less active
than they have beest re- Royal Dutch galood cently. about 12 shillings though Shell would rise only I shiting and Brush Petroleum was unchang- ed, Suez Canal was also changed at 40% sterling: It is passbig out of the martects' view.
U
German Dawes and Young Loans non-ascated also rose 1% though that of the Young Loan ained only . In the Japanese Ilst the Tokyo 5 percents non- sented was agaia the feature with still another rise
of 3
gained about 1 sterling, Chinese
The "general business situation has continued No rubber per da, Juno strong so far in 1957," the Commerce Department reported on Tuesday, despite some "unevenness of the business pace among specific lines of activity."terling Several of the assenteds The Department's office of business economics way suddenly active with all. said in its monthly "survey of current business" showing fractional that the "firm tone in the overall economy extended through April,
The rubber market was quietly steady with spot quoted at 27.7/16 pence per lb. Prices:
No. Res spot **** 2011-20%
9tlement house term:
June Aug.
Sept.
July/Sept
Oct./Dec.
Jan./Mar,
April/June
2014-2018 It said the outlou's coohomy
2035-20$
201-20
2011-20
2011-2941
2011-2015
kopt pushing to new highs this year chiefly because of steadily increasing demands for goods 2014-201 and services from domestic and
and Foreign 2014-2011 government. It also noted that 2011-2013 domestic investment continued 2014-201
at a peak rate.
General market. et basis, ports:
10.40 10
1000 15.50
10.40
June
145 155 3000 G) 1.475
Jufy
Aug
Etate crepe
Trut
UTILITIES Trom Yaumati
1.40
thin June
thick June
39.30 22.00 3000 22 23
Uf
#
C. Light (0) (Rta) Eectric Macao E Telephone
140
30 30
were
Light scale profit-taking early in the week caused prices to ease fractionally and from then on Interest dwindled with business mainly hand to mouth nature, Prices consequently
drift to lower inclined to levels in most sections.
Nanyang Cottons, however, were excepilon and gained 30 cents, closing at 58,55, the lop for the week. Tise current rise has been due to the im- proved dividend.
Elsewhere the market
been
featureless with
مندا
the
103 105
0.93 10.0
50 gr 104
40 @ 13.50
300 y 30
2720 27 40 100 21.20
INDUSTRIALS L'ement
2000 4 27.20
58 6 27.2
500
27.30
33
100 G 14.00
500 x 11.80
322 STORES, ETC. Day
14.70 14.
1.80 11.00 Watson
20
COTTONS Tex... 4.00 4.70 Nanyang
0.45 6.60 000 6 0.53 MISCELLANEOUS Entert
201 INVESTMENT
0,24
tempo of trading slow even at angleze. the close.
Market Diary
Here is a market diary of the
week: Friday:
Monday:
60 10000 Exchange Rates
203 3014 -United PRESA.
Battle For
Lost Market
consumers
Little Change
the
side was a the uneven continued decline in residential housing starts and a general lack of growth in Industrial produc-
tion.
The bureau said industrial
has
litle production
shown
change Blace Jast October, chielly because
of declines
auto output and sales.
in
Memorial Day Holiday
Duo to Memorial Day holiday in the United Stalca yesterday there will be no American market reporta the in today's me of China Miki,
Business in the United Biales, however, remmed today.
United Press
cains.
LONDON LEAD AND ZINC
London, May 30. The copper market was easier while lead and zine were steady in the morning session. Turn overa wore 650, 300 and 500 tons respectively for copper, lead and zinc.
In the afternoon,
the copper market was quiet while lead and zinc were also quiet and easy, Prices at the end of unofcial afternoon session all in sterling per long ton were BS ipilows:
Bellers
Copper Epot
3-mwith
2353
23815
2362
BRITAIN'S
Zime 2nd halt May
Lead 2nd half May..
Aug.
Aug.
91%
79
7012
UnMod Press.
In seperate reports, the Crusus INDUSTRIAL
New York, May 30,
Burcau said US exports in April Cotton industry leaders declined from March to a total while imports were told today to prepare of $1,854,000,000
Morch in
Increased from for a competitive battle to February get back some of their lost 200,000.
market.
to a total of $1,002,-|-
14 per cent below the March
OUTPUT
London, May 90.
The April export figure was Britain's inilustrial out- Chief methods outlined at record of $2,143,000,000 but was put continued to fall in the 23. per cent higher than exports April as a result of strikes, the second day session of textile market research confer in April 1950. The March im- petrol rationing and the ence sponsored by the National part figure was 12 per cent above
lower, the February total and 5 per Easter holiday, the central Cotton Counell were 180.14 Co
more cent more
Imports in statistical office 1355 competitive fibre prices,
yesterday. emphasis on "creative and im-March of last year. 10 aginative styling" and more in- tensive rescorch and product cevelopment.
6.37
Bualness was done in the neat Home!! exchange tumrket thik Dull and feature. morning at the following rates:-
1.S. dollar (per #1) less. T/O: $420,000. | Sterling rites (her £1) Light scale profit- Australian notes (per £1) taking. T/O: Indortenior rupial) (per 1001 $520,000.
lam teal (per 100) Singapore (Stratte)
MORE & MORE PEOPLE PRODUCING
RICE la CEYLON
FURS in CANADA
TEA in NYASALAND COCOA in ASHANTI
COFFEE in JAMAICA
WHEAT in AUSTRALIA TOMATOES
MALTA
SAGO in BRITISH NORTH BORNEO as well as many products in other areas of the world are opening
6%
Mielonom Voltini Dypvali Alph
BANK DEPOSIT ACCOUNTS
Bend today for "Bank Dapoelt. Reporner Booklet No. AUT from Gepers Mocsgoed
LOMBARD BANKING
·LIMITAE,
BANKERS,
Sad Qu; LOMBARD HOUSE. CURKON STREET
PARK LANE, LONDON, W.1.
GRO 4131°C Anas)
· Branchés did Agers sieunghout the VFWid
211.20
Jr, the Dr M. K. Horn, Connell's chief economist, Fold
than
Reduced
The economica economy in along the the established
come in the first quarter was
150,000
reported
big
involv- acd
Provisional Agures published by the office said the index number for all Industrial
pro- office Of bustness duction in the United Kingdom, the down Arom 142. in February to reported that
further to if cotton consumption had kept
April continued 138 in March, slid
The index fa pace with all consumer spending
same high level 139.4 in April. past eight year, in the
average monthly inte Brst three based on the domestic market, for cotton to- months of the year. Personal production in 1948. day would be 12 million In-
Strikon and the Easter holiday stead of B million bales G- at a record annual rate of $330, were blamed for the low out- nually. Ifere's the way he 000,000,000 and the gross nation-put which was 2.0 points below accounted for the loss:
al product hit peak annual the index number for April, April production was 1950. Nearly 800,000 bales went to, rate of $427,000,000,000. other textile fibre; the drop in The report showed that busi-affected by both the
strikes, Shipbuilding het cotton textile exports took neas laventories were reduced in
losses to
workers, about 000,000 bales;
the first part of 1967, causing airg paper, plastics, and other mon- | slight đêcline in inflationary strikes in the engineering fields textile materials accounted for pressures and the upward trend involving 400,000 workers, nearly 1 million bales-United in wholesale prices.
These and other labour dis- Pre..
pules cost 2,570,000 working days and were estimated to have affected the co Agure by between one and two points, Other industries got affect
Bby od
the big continued to develop satisfac- torily, according to the report. Pig-iron production was up nine per cent over April, 1958, and steel output up two per cent.
But the automobile industry, The Bureau noted produc hit by gasoline rationing, pro
LONDON TIN MARKET
London, May 30. The tin market was sicady but quiet. Spot and the three- months Lell to 703 %, and 761 % sterling. Turnover was 40 tona,
was steady
In the afternoon the market with spot and three-months unchanged. Tum
Prices in sterling per long ton closed as follows; Spot buyers
3-month
over was 10 tons.
meliem
buyers oilara
On the minus side, housing starts in bo fast four months of the year were 25 per cent below the year-ago total while the dollar value was of 11 per cent.
Overall construction" activity was up because of more business and public projects.
Increases
strikes
on increases in recent months,duced two per cent fewer cars:
in transportation equipment
the
corresponding
cut and petroleum products. But month inst year-United Press
than
(other than autos), and chemi-
in
declines appeared in the output
of euch durable goods products
as autos, primary metals, lumber
Te products, and certain Lines of London Foreign
16156 bousehold durables.
*United Frem,
NAMESAKES
Answer:-1 Bath, Leador
ship, 3 Fashion, 4 Court Beauties, George 7 Colping
Auto manufacturers produced 2,700,000 is, of which 2,300,- DOO WRID VRBRENNa sala during the first four coins of this year. This was about the same na during the comparable period of 1930 but well below the 1955; | recork."-
Despite the reduced outo oute
B Mannorime 0 Unidoras, 10 puts the ruboru:f0d patakaoliom
Style, 11 Loudon, 1220vel.
-Beau Brumanali -(Georgian- | consumer purchases. im United Jandy).
Produ
Exchange
London, MRY 80,
Clos
Pagë
P.OBI EA
COMPANIES
PENINSULAR & ORIENTAJ, S.N. Co,
PASSENGER/FREIGHT SERVICE
Shutwarda
"CANTON" “OORFIN "CARTHAGE"
"CANTON"
Loaves London
Ballad 1/4
Salled 30/5
25 June
zand July
Yia Southamptos, Colomby, Penang
Homewarda
*
"DANTON*
"OORT"
"UARTHAGE**
"CANTON"
+
诽
LEKTOR KEUKENTE
5th June
5th July
2nd August
20th Avera
>
Due Hongkong
La Port
1st July
20th July
20h Aiguat
& Singapore,
Dus London
Bin July
4th
August
1st September
30th Septeraber
Via Bingapore, Penang, Cojpmbo & Aden. FREIGHT SERVICE
*KHILLONG” quə 18th June
"BUNDA” Atto Uth July
*SHILLONG" ionde 19th July
Stop WJC
from UK
for Singapore, Pt. Swet- teoban, Penang, Aden, Slavio, London. Hain?- bura. Rollerdam, Aat- werp & Orangeniouth
BRITISH INDIA S.N. CO., LTD.
1854 — A HUNDRED YEARS OF SERVICE → 1958
"SANTHIA” doe Qth June
palla 7th Juna
"FULTALA" due 23rd June sally 25th June
"BANTIJA” due 20th Juna
sale 27th June
from Calqutis. Hangoan
for JADED
from JageS
for Singapore, Peng Hangoon Calcutta Chittagong
Prom Japan
for Sagapore, Penang. Rangoon & Calcutta
P. & O./B, I. JOINT SERVICE "TTAUBA" in Fort
"URLANA”
pula Zat June
due 18th June
kalis 20th June "OʻZARDA" dug 25111 June
salle 20th June
"UMARIA” due 20th June mal 282 Juta
from Japan
for singapore, Cochin & Dombey
from Karachi," Bomber. Cochin & Singapore for Japan
from Bombay, Cochin, & Spor for Japan. from Japan
for Sdagspore, Bombay Karachi, Dubai 邀
Basah
EASTERN & AUSTRALIAN S.S. CO., LTD.
“NELLORE”" due 8th Jun
Ball lith June
"ARAFURA"sills 10th June
from_AINĪTRIšm
for Tapah
FOR Labuan, Sandiakan. Babal. Belbase, Byd
Mo Mey. Adolakie
All vessels have liberty to call at any parts on
er off the ropte in the route & anilings are subject
to change or amendment with or without notice.
For tuli particulars apply to :
MACKINNON, MACKENZIE & CO. OF HONG KONG LTD.
Telephone Nos: 27721-4.
HONG KONG AIRWAYS
announce
that they are continuing for the present
to offer a service to
ΤΑΙΡΕΙ
with through plane connection
to the U:S.A.
employing DC-6B aircraft
chartered from Northwest Airlines