THE CHINA MAIL, FRIDAY, JUNE 21, 1957.
TRADE and COMMERCE SECTION
|
Parč
HK MARKET LACKS INTEREST COTTON FUTURES
Phones Lose
Ground During
Week
Dull
By A SPECIAL CORRESPONDENT
Little interest was shown this week on
the Hongkong Stock Exchange closed on a steady note yesterday.
which
The turnover for the week was $3.16 million,
a million less than last week's.
which reached
The tally for the week was eight higher seven unchanged and nine lover compared with 11 higher, eight unchanged und Ave lower last week.
Telephones, their highest quote of the year- $20-last Fridny morning. dropped 20 cents on the week alver showing strength 205- tinuously for the past month. They closed at their week's low of $28.00.
Doing Well
Cottors are doing well on the market
both with
Textile Corporation and Nanyang lack- ing on five cents for the week,
Wheelocks lost a little ground this week due to profit taking. losing ten cents with a closing quote of $7.80.
Hongkong Lands closed on an unchanged quote.of $40. Interest in this shore may Improve when
CHICAGO GRAIN MARKET
Chicago, June 20. Grains, with the excep- tion of soybeans, closed lower on the Board of Trade today aftor moderately active session.
Prices bogan nioving higher shortly after the opening with news of clear weather and re-
ports that harvesting operations
soon in the south will begin west.
15
and
Soybeans prices moved higher export sales in that grin increased
aditional foreign activity was expected.
demand for other grains was slow,
Foreign
Wheat closed off to up
cent for now.
Soybeans closed up 1% to 2
points.
Wheat No. 2 red
July 2014 (37) (L) 2005-2
Spot
Exptember
March
May
December
Corn, No. 2, yellow
Spot
July
September
December
March
May
Ryc
July
September
$100
July
September
the rights are all paid up at the end of the month,
In the utilities section, Hong- on 25 tacked kong Electrics cents with a sale at $30,25, while China Lights lost 20 centr Interest was Mill lacking in Banks and Unions.
Restricted
Here is an Jee House Street observer's Account of the market:
The Stock Market appears to lack any real interest at the present tine and as a result business has been on a restricted scale during the past week with only a few share minor fluctuations in values either way.
The small overall turnover of $3,189,000 is just over a million less than last week's.
Hongkeng Banks and Undon Insurances remain heavy with ittle demand for either at the present me.
مرے
steady
* The Share Market At A
Glance ★
May 23
bisy in
June
Jane 13
Juho 20
Up or Down
Ik Bank Lombard Unlos Wheelock
1043
18550
1045
1885
1840
+35
870.
810
37n
39.
steady
20
923
9in
591
---500
7.45
1:35b
{
1.80
7.90
7.30
100
JK Wharf
107m
10834
109
100m
181
500
HK Docks
44348
434b
44
40%*
+250
Provident
19.15m
18.10
13.20
18.40
18.30
100
HK Hotels
15.50
15.40
15.50
15,50
15.45m
HK Lands
38m
3834
36
30
36
HK Realty
1:475
1434
1.458
1.45
145
HK Trams
22.90
22.70
23
23.20
20,10
131b
1360
130s
131b
130m
+*
102
101
108
204
104
19.40
13
10
10
18.80
steady -200
3014
30
30
30
30.25
+250
21.40
27.10
28.30
28.80
28.00
200
3336k
3234
3294
33
324b
-400
15
14.90
14.70
14.80
14.80
steady
11:80
13.80
11.80
11.80
21.80
steady
Yangtze
6.20b
61
6.40m
6.tom.
0.15m
-50
Allied
4.475
4.4756
4,50
4.00b
4.10
+100
HK & FE Inv
10.200
10.tdb
10.30
10.306
16.80b
steady
Textile Corp
4.7258 8.25
4.70%
4.75
4.825
8.55
Bxd
8.85b
4.875 8.10
+50
Star Ferry
Younistis
Ch Lighta
Electries
1K Telephono
G.J. Cement
Dairy Farm
A.S. Watson
Nanyang
WORLD
RUBBER
MARKETS
New York, June 20, Rex rubber futures today closed 65 to 75 points lower with sales, of 210 contracts.
July
Sept.
Nov,
Mat
12.10
20.00 Standart contrect closed B to 75 points lower with no sales reported.
phones
Utilities have been only moderately active with Tele-
best
July
Supporte
Sept. May.
although
they closed
below
the top levels.
Mar
May
July
Wheelocks yielded slight ground on profit taking,
la group Allied
Textile
some
In Investors
and kbowed with the latter announcing a dividend of 50 cents per share, the same as last year,
Nanyangs were also steady throughout. Rubbers steady.
WEAT
Elsewhere, there was Hille of note to report with prices virtually unchanged.
Market Diary
In
92,10
31,73
31.40
31.50
$2.00
30.60
cables
Speculative liquidation, fol- Corporation lowing lower Landon Improvement and increased shipment offering, the uncovered stop orders on terminal mastel, sending prices down sharply in the fortnoon, Later trading ruled quiet and come trude buying lifting the market slightly from the lows,
market, dealers reported a flood of ship-
the physical ment offerings following nows of a change in Indonesian ex- port regulations permitting lar-
sumers, A good part of the offerings
reported held were above
basis. a workable
but some sales of No. 1 lbs were 31% cents for June/July shipment,
cost and freight.
Factory And olher buyers backed away from the market
face of the large offerings, dealers said. Locally, Spot No. 1 Fiss was quoted at 311⁄2 cents.
SINGAPORE
Here is a market dlary of the ger shipment to world соп week: Friday:
Hesitant
mood.
T/O: $830,000,
Monday:
Somewhat
1.
T/O: $478,900. Fluctuate
Tuesday:
mildly. T/O: $595,000. Wednesday: Dull and feature- Jess, TV/O: $374,000. No material change. TVO: $778,000,
Thursday:
HONGKONG
STOCK EXCHANGE
Business done on the Hong- kang Slock
centrrned
at
steady -10%
SECOND DECLINE
IN A ROW ON WALL STREET
New York, June 20,
Stocks turned in their second decline in a row, with metals, oils, chemicals and utilities bearing the brunt today.
STORES DO
WELL IN LONDON
Londoh, June 20. Stock markets were ignin unable to break out of the [pattern they have got into
recently,
1
HAVE SLOW DAY
IN NEW YORK
1
New York, June 20.. Indecisively narrow price changes accom- panied a slow trade in cotton futures today.
At the close the list ruled up 2 to off 11 points. The market opened up 2 to off 1 point. New Or- lears closed unchanged to off 9 points.
December
Limited operations were given, July, over to evening-up in the spot Delober July delivery, anticipating fir notice day on Monday, while other traders awaited crợp newe and farm legislative develop Washington.
3420
31.10
NEW ORLEANS Prices of cotton futures closed today as follows: Spot July October December
54.30
34.05
36.70
34.00
34.20
23.10
33.18
MAY July October
British Govelhichts opened ments with a show of strength, based Other traders 'paused to await on the fact that for thive sut-outcome of the wheat farmer re- cssive days their index had ferendum today on marketing March
Techalcians been unchanged at 83.56., This quotes for 1958. suggested that the steady selling reasoned the vote would give an was largely over but
of it soon indication farmer thinking December Boctune cleor "Thuit. 1 fresh about the future for production exodus WAS under way. By control and could suggest a how cotton marked possible trend
farmers may act when their re- ferendum is held inter this year.
news was Crop
considered more favourable, although private
noted cleared There Wis bgin
highly hot weather is needed every- zelbetive buying of industrials, where, especially tht lesser-marins,
the close the dealers them down by sterling.
SELECTIVE
survey
On
Open July contracte foday though the leadels were ignored totalled 82,400 bales the certi and drifted, moderately lower.
Bowdlers, the lending paper ficated stocks remained at 10,050 and newsprint rm, got
Roma bales. more selling
NEW YORK and fell anather shilling to a new low for 1957. Prices of cotton futures.closed Department stores were very today as follows: strong, one displaying a rise of Spot
July: 6 shillings, another a site of 3 deinber shillings; the chalk store fleld December Woolworths gained a shilling. March
Oils
were highly irregular, Royal Dutch lost three shillings,
Shell and British Petroleum! shilling U pence while Canadian
Golds were quiet but there
were a few moderate fises.
There was little pressure to the selling, how-Eagles rose 1 shilling 6 penga. ever, as evidenced by a decline in volume from Wednesday's 2,220,000 shares to 2,050,000. Market men saw the move as largely technical, with some individual issues feeling the added weight of special influences.
Utilities were particularly hord hit, reflecting their inability to react to inflation as rapidly es
Industries issues
where of earnings are not regulated,
The titles fell 97 point in Coming their average to 70.03. on top of Wednesday's 88 point drop this left the group at its lowest level since February 28.
Softening
Aircrafts were mixed: with some softening vorming late in official the day as an nir forer told representatives of the in- dustry it plans drastk controls over spending.
Chemicals had losses, of more than a point.
Chrysler was an upside stand- with a gain of a point and other motors firmed.
Ralls were narrow moving for the most part,
Industrials were down 230
and ralls off .45 at 145,21,
The market opened higher on rather more encouraging over-polats to 503.50 in their average seas advices but declined sharp- ly on reports of increase Induct ments to Indonesian exporters, and thereafter fluctuated rather crratically.
No, rubber per lb. July 9134-12.
Ang. 9356-9176 No. 2 rubber per lb. July 91.1
9014-91
No, 3 No. 4
H H
Spot rubber, ubbaled ..... Blanket crepe
No. 1 palo erepo
LONDON
84-00 EX-200
The rubber market was easy
Of the 1,140 Issues traded, 024 were lower, 207 higher, 255 uh- changed with 120 at new lows, 13 at new highs,
NY Stock Exchange bond volume was $5,370,000.
American Slock Exchange volume was 820,000 shares.
C Amer, SURAT
Blamond Alkall Douglas Aircraf Dow Chemiehis Dupont de Nemours Kastern
Aline
Eastman Koda
El National Gas Tamily Phance Corp. Firestone Tyre & Fibber Ford MotoC General Electric General Foods
General Motors Gen Pub. V. Gitty Oi
Glidden Co.
Goodrich (B. F.) Co. Goodyear Tyre Gulf Chi
Herden Newport Corp. Hornertake Mining Co. Engerwall-itand
Inland Steel Co.
Interchemical Corp. Int1. Budinem „Machines Internațional Nickel International Paper Inti Tel Tel
John-Merville Co. Kansas C. Power & Light": Kennecol Copper. Liggett Meyers Tob. Co, Lockheed Alternft
Loews Incorp..... Lone Star Cement Co. Lowenstein & Bons, McDonnell Aircraft
Stock Exge.
Meubi Iron Corp. Minnesota Mining Mission Development
Monsanto Chemical Co. Montgomery Werd Motorola inc. National Comia ileg, “A National Dairy Prod. National Lead .....
Steel Corp. Hatork Central
Din Mathieson Dis Klevators Owen-Blinola Glam Fun American Airwaya Paramount Pictures
Co. Feniny Per Bait Co.,
Par. C. C.
Procter & Gamble Co. Filtyburgh Plate Glása Radio Corporation Republic Steel
Bow-Jones closing averages Reynolda Meth!
Exchange this morning uniour:ted proximately $280,000. Noon with spot quoted at penny 30 industrials
-
13
Among foreign bonito the only feature was the demand for the
Czech Loan which rose 1 sterling
to 38% sterling, Getings were unchanged ug wire the Japanese 273% also apart from the 10245 non-
assentods which fell sterling
Dollar
were marked down but the premium was un-- changed. United Preto,
1931
stocks
Singapore
Stock Market
"Shgapore: June 21. Brokers today quoted the fol- lowing stock prices:
$.05
May
€89286
LIVERPOOL Cotton future closings, In pence per lb. were as follows:
Old contract
July/Aug.
Oct/Nov.
Mar/Apr.
May/June
Now contract
Det.an.
July Aug. Oct/Nov.
Dec./Jan.
Mar. Apr.
May/June
Quotations were
today.
20.00
2070
20.00
22000
unavailable
BAU PAULO
In the United States, the
average price of one-inch cotton
14 designated
was 33:00 cents.
spot markels
Total sales at these markets was 9,383 bales-United Press.
POBIE
COMPANIES
PASSENGER/FREICHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Outwarde "OORFU”
"CARTHAGE"
"UANTON" “CORFU"
Leaves London
Ballet 29/0
25th June
23rd July
21st August
Leaves klonskong
Due Hongkong
1st July 29th July
29th August
23rd September
Vix Boutharapien, Calombo, Penang & Singapore,
Komawarda "CORFU" "CARTHAGE"
5th July 2nd August
10th August
Due Londona,
6th August 2nd September
30th September
27th September 29th October
Via Singapore, Penang, Colombo A Aden,
FREIGHT SERVICE
from UR
Opening
Batistang Rubber Co.
Ltd.
British Bomeo Petroleum
Byndicale...
61/91
106
Consolidated Tus Smelter
S
Fraser & Neave Lid, Ord. $2.0215 3136 | Fraser & Neays LAE. 739% can, pret. ***** 100%
033) | Gotopoco (Malaya) Låndled 403) Hongkong
33/6
"CANTON"
"CONFU"
$4:00
.1715
Shanghai
Balding Ox
$300
34
Hongkong Tin Ltd.
Kumipas Ltd. .....
$1.00
(Am,
Kuala Kampar. Thi
30/0
ཐta;
40%
GOV
Lunne Rubber Estates Ltd, 0,82 Maingan Breweries..... 3.17%
"BUNDA” due 4th July.
"SHILLONG" load: 18th July
34
New Serandah Rubber Co.
$2.45
370
20%
Petaling Tin MJ.
$2.07%
Rae Hotel
£2.40
401
Singapore Cold Storage
$2.17
Stadt Trading
$2.475
Steile Steamap
$16,83
United Engineer Ord
11.bo
Weathe Bros Gat
$3.15
"SALMARA” dine 2001 July
"SALSETTE", due 30th July
"SOMALF"
trom UK
from UK.
duo 15 Aug
from UIC
5512
cundly; 1 exaly-China Mail
Specia
214-1 200-04-16
13216 13715-
120
12316-7 130
72214- 12314-15
Our Own Correspondent
823
044% 0514
were:
Soybeans, No. 2, yellow
to
bou.
Spot
July
September
22-232 quotations
ab the
lower morning's
to 20% pence per lb.
20 ruil
145.31 Bucony Mobiloik
Sears, Rorbuck & Co. shell On Co. Sinclair Oil
16 uities
Solar Alteraft
World No. 4 sugar futures today closed unchanged to B points higher with miles of 618) 00% 2ontracts. 1734
•
*
"BANTUIA" Que 25th June U 27th June
"BANGOLA" due 17th July xalla 18th July
70.07
November
Transactions:
Spot
200 b.. seek
January
March
Karlcy,
New York flour
United Press,
New York Foreign
Exchange
New York, June 20,
Closing rates were:
Conecta
England official
New Zealand
2.04 15/10
Shares BANKS
Inc Dank INSURANCES
Union ... Lombard... SHPENG Wheelock. 7.80
DOCKS, ETC.
K. Wimet
Dock
107 100
Provident 13,20 15
LAND, ETC.
HK Hotel.. 10.40 1535
ic Land..
Humphreys
healty... 1,425
Buyers Sellezs
Sales
130-140
#13301
1040.
6 @ 1036
Prices: No. 1 s pot Settlement vousë tern: July
$5 stocks
40 bonds 101-37 Comm. future price index
173.25
#117 Southern National Gas 158.57
South Puerto Rico Sugar Bouthern Co. FIHC)
*
Southern Railway (Com.
415
Bandard Danda
tracts.
sales of 284 con-
*
“UMARIA”
Closing Prices
Standard Oil of Cal
*
Standard Oft of Ind.
Standard pli ol HJ.
*
30
Sleep Rock Toronto Exge)
stering Brig
21. 2015
7.83 830 €
1200
Bidiceby-Van Čubsp.
ja
April/June
Bilobaker-Packard Corp,
205-27
0013
די
300
1000
ARISTERDAM
(Rio)
SEX 2012 1600
400
30
116
100
11.10 3000 @ 1.45
July
481
September
401
p.10
4.13
4.63
5
September
Open tores): 0,003 contracts,
Contract No, ɑ (domesito).
July
Segitable
for Blugapore, FL Swel tentari, Pinang, Aden, javto.
London, 1am- burg. Rotterdam, Ant- werp & Grangemouth
Australia
South Africa
Indila
2.20 3/16
2.78 3/10
2.70.9/10
2004 2004 Others unchanged United Pres
Pakision
London Foreign
Exchange
London, June 20.
Clostrig rated, were;.
Now, York
Montreal
Amsterdam
slochetin
Surket! Olliers unetianged.
RUBBER
Amalg
UTILITIES
Tromme
Ymenat
August September
50001ly septenter
Celeber/December
7us Jay/March
7.00 General marketa, cif basta, parti
232320 1000. @ 23.30
103 104 C. JANE (0) 10.00 10.00
400 @ 10.30
Electric ..... 30 30% 1000 30
Macao E...
100 út 30
1040 2012 Telephono 23 28,00 1000-23.00
INDUSTRIALS
Coment
Amoy Can
Batry
Watson
maan COMCNA
1.70-1.36 3/10 Textios
14.70 14.50
... 11,70
10.0834:10/1 EMICHELANEOUS
(2.3)}1-12.2145
•United Preci
首
350 14.30
682 11.80
June, July and August .....
Estato crepe this lay i
thick y .....
The rubber market was weak.
Prices closed today, in guilders per kilogram. elf July as follows:
No. 1 rubber
No. 3 rubiar
Nu a rubber
No. 1 repo
... 2.60 nom.
2.50 nom. 2,84 nom. 2.00 nom. United Press.
LONDON METAL PRICES
• London, June 20.
Prices of metals closed today
Alden Inc. Acy. Allied Chemical Alled Mille Inc. Allis Chalmers American Airline American Cable
Corp.
American Cyanamide, Ader. Form. Power Am. Cha & Berthie A. Mach. de "dry. Amilcan xoplanar
Am. Bugar iter. American gol & a Ameriena T88. "TH Anaconda Copper Armes Blocl Amour. Atias Cons. Mining Baldwin-Zuma-Int. Baléare. Onlờ Hencial Financo hendix Aviation Corp. Dengust Con
Denishing steed
Horing Air Le
Durden (The), Cp,
Can Padde di.
in sterling per long ton as fol- Guro (U, lows:
200 480
Tin kodi
X-mpath
Copper, spo
Beria
2ine and
sdkerk Bellek SAL
Quits & Co.
Texas, Co.
Tido Water Ams. Oll
The Rač.
Twenty-Century Fox Flim Union Carbide ................... Union Peckie Railway 354610000 vidyaraft 2014 united Gay Corp.,
V6. You *gga 22. BOLUB. Corp
UG. L-Co.
UB, Rubber
YF Baking
Warner Bros
Worthouse Ezectric
Western Union. Tel. Co. West Va. Mip & Pion Woolworth
NAMESAKES
New York Sugar Market
New York, Jund 20.
Domestle No. 6 sugar futures closed unchanged to 5
points 4936 | higher with
Firmiters in the world con- tract reflected the strong
60tatistical position of sugar in Cuba gad a beller that carry- over stock by the end of the of year will be the low side,
The domestic continet borrow- ed encouragemen) by the world ASN) contract atül refected BrimnesS 20 in s
Contract No. 4 (world)
October
March
MAY
J1 July
44
Antwerps-1 Kriswyledys, Cane, a Nichols, 4 Nterieby; Fotheboye 7. Arti
Quarrelį 11
spot-jeants per ib. fob Cuba) 8.30
November
Karthi
September
Spot-joente per in, cif NY
[ex-duty
Open interest: 2,091′ contrac Unilld Prem.
Exchange Rates
morning. At the following TETOR;
Admiralan noles (per £1) Todoeken & Pupishish (per 100)
BRITISH INDIA IN. CÓ., LTD.
1355 --- A HUNDRED YEARS OF SERVICE – 1938
from_Japón “FULTALA" dus 2let Jurie Baits 22nd June
for Singapore Pellang,
caldutta Rangoon chittagong
trom_Jepperi
for Singapore, Poning, Rangoon & Caledita
- from daloutta, itaingdon
&c. Strm
for Jasan
P. & O./B. I. JOINT SERVÍCE
Bus 21 June salis 29th JuND
"OZÁRDA” duo 8il July Balle 10th July "ISMAILA" dua 1413; July
salis 10th July -URLANA” duo 2701 July
waits 20th July
from Japsin
for Singapore, Bombay. Karachi, Dubai Baarah
*
frani Bombay, Cobb, B B'pone Вот барад
from Kamold. Bombay, Cochin & Bingapore FOR Japan
trờin: Jághá
for Bingapore, Bombay, Karachi, Basradi, khát. ramabat & Kuwkiti
EASTERN & AUSTRALIAN 5.5. CO., LTD.
"NELLORE" aalis 10th July
*EASTERN" Gue. dis Aug.
for Labuan, Bandakan, Baboul, Brabang Byth-
Melbourne **
Adelaide.
From Amtralia
Aņ desidia haru liberty to zko as any porta om
or off the rusté a ́tna tvili ̧ à bilings aéS MADJOCH de change de shadielana vita de vitanda vötion,
For full particulars apply to MACKINNON. MACKENZIE & GO. OF HONG KONG DHE Telephone Nos: 27214.