THE CHINA MAIL,
FRIDAY, JULY 5, 1957.
Pare
TRADE
and COMMERCE SECTION
HK MARKET STILL
Most Of Stocks Register Fractional Gains
By A SPECIAL CORRESPONDENT
★ The Share Market
HK Bank Lombard Unien Wheelock
HK Whatf
K Docks
Provident
HK Hotels
גב100%
LISTLESS UK GOVERNMENT
At A Glance
June G
1645
June 13 1685
June 20
Jun 27
July
Up or Down
HONGKONG
3în
30%
100% 30x
1880
1040
+$10
37n
37n
steady
#in
00
894
Bigb
10b
+500
7.00
0.00
1,80
7.75
7.80
+50
109
· 107
108m.
108
Elendy
43546
44148
401
+380
18.20
13.40
13.30
13.10
13.10
steady
STOCK EXCHANGE
16.80
16.50
15.48m
15.30
15.56m
-+250
13K Lands
36
30
30
35%
94**
steady
Stock
1K Realty
1.45b
1.45
1.45
1.425
2.45
+-2460
HK Trans
23
23.20
23.10
23.10
28.20m
+100
Our Own Correspondent
Star Ferry
130s
1926
135M
13511-
1860
+$1
Yaumatis
105
104
104
103
10am
+300
Ch Lights
10
12
18.80
.18.80
18.80
steady
Electrics
30
30
*30,25
20.80
29.00
+100
BK Telephone
28.30
20.90
28.60
28.40
27.90
50c
G1, Cement
3211
33
3214b
32
1214
steady
Diary Farm
14.00
14.80
14.80
14.70
14.70
steady
A.S. Watson
11.00
11.80
11.80
11.75m
11.70
---50
Yangtare
6.40m
0,40m
.3ăm
0.39m
6.300
steady
IK. Bank
INSURANCES
a mlado
Aftted
4.50
4.60b
4.70
4.601
4.60b
steady
Unison
JIK & FE Inv
19.30
10.306
10.306
10.30%
10.30b
steady
other
Textile Corn
4.75
4.825
4,875
8xd
8.05b
8.10
4.075 8.05
4.80 8,305
+120 4250
Wheelock DOCKS, ETC.
K. Wharf
Dock.......
Business on the Hongkong Exchange continued to be listless and when it closed yesterday there was no material change.
Although the majority of stocks were up on the week, they only registered fractional gains.
on
The turnover for this bolt- Doctus were also year week was $2.14 million- firmer, three lakcha
Inst Telephones down frum
the
week's
ground Lurnover, while the hand Fielded further
ribe tally was 12 higher, ten
after their long leady nin-
but there was 110 pressure, changed and two lower, con-
Elsewhere price pared with the previous week's
changes tally of two higher, five
changed and 17 lower.
Not Unusual
11-
It is not unusual for The market to be luil of this time
of the year and it may improve In a few weeks' time when some interin dividends are due to be declared.
were insignificant,
Allled Investors announced an interim Alvidend for 1068 of 25 cents per share, which
is the same as for 1937.
Rubbers
1YCTO
Inactive.
quiet and
Market Diary
Here is a market diary of the
week:
Telephones, which have been Tong ground the whole week Friday: after losing 20 cents the previous
week, dropped another 50 eetls
at the close yesterday.
Ther
closing quae uf 527.40 was their Tuesday: lowest slier the beginning last month.
01
Hongkong Banks and Unions Wednesday: have brightened up after being depresed for some time. Banks closed with a sale at $1,040 while Unions elszed on á buyers' quote of $90,
Doelts, which have been steadily gaining for some time, Sacked on another 75 cents for the week closing at $45.25.
In the cotions section, Textile Corporation and Nanyang both Lacked un galus for the week. the former 1214 cents and the Intter 25 cents.
No Incentive
Here is no Ice House Street observer's account
the ní market:
WITH tile week's trading curtailed by the half-year holiday on Monday, the Stock Market experienced further duli trading conditions - sulting in the pallry turnover of $2,143,000.
There is still no incentive and consequently demand small,
1
Thursday:
Edged fractionally
higher.
$705,000.
Movementr
T/0:
Low
Nanyang
DISTRIBUTION
OF GOLD AFTER
TEN YEARS
Lake Success, July 4.
In its World Economic Survey 1956, the UN
and SAXTA 1. TO: discusses the question of a higher price of gold as
$550,000.
Dull and feature- jess. T/O: $288,000.
T/O: $510,000.
follows:
"Discussions of the adequacy or otherwise of foreign exchange reserves in particular countries No material change. frequently seem to asyume that the present distribution of the world's reserves has no relation to the 'requirements,' in some sense, of the various countries and areas for reserves, and that currently inadequate exchange assets of some countries could be raised to adequate levels by the
Singapore
Stock Market
Singapore, July 5. Brokurs today quoted the following stock prices:
Opening Balu intang Rubber Co.
Ltd.
$2.12 British Borneo Petroleum
Syndiente Consolidated in Smellers
*47- •
30/- Did. Frer "Neuve Lid, Ord. $2.06 From Neave 765 Km.
pref
34.00 Common (Masya) Limited $2.10
Hongkong d Shanghol
Banking Coej
$190
longkong Tin Ltd,
6/34
$2,00 40/30
Kempa Lad.
stroke of a pen-that is, through a rise in the price of gold.
It is not necessary to take a position for
against or
the Intter proposal to see that the view set forth above constitutes a serious over-simplification of the problem.
70 PER CENT
"It is true that the events of
the
the nineteen thirlies and the circumstances of
Second World War and early postwar period led to a drastic redistri- 82.47bution
the world's gold
cuala Lumper Tha Lunas Rubber Estates Ltil. 882 Malayan Breweries..... New Berandah Itubber Co.
$3.40
Petaling Tin Ltd.
Ratios fotel
$3.30 $2.40
ies
Singapore Cold Storage"
$2.201
Sitnits Trading
Steamship United Engineers Ord. Wearre BMS
$2.47 $17.50 $12.10
It is therefore somewhat surprising to £nd that, on balance, there
pre- dominance of fractional gains at the close and there is cer tainly no feature of impert- ance to comment on
However, the undertone has remained quito, steady with Hongkong Banks and Unions moving off their recent low levels,
exdly-China Mall Special.
of
Daimler-Benz
Reports
Good Year
supply, so, that by the end of Stuttgart, July 4,
Production of motor vehicles by the Daimler- Benz Company last year
1948 the United States held over 70 per cent of the world's gold reserves, while most other countries were left with
their trade.
42 insuficiency of reserves in re
lation to the current value of exceeded 100,000 units for the first time, passed since the end of the war according to the annual in the local and the neté reserve position report for 1956.
Exchange Rates
Bu
was done
unofficial exchange
market U.S. dollar per 81) nurning at the fallowing rates Stertg notes (per £1 Australian noles (per 1).... Indonesian rupiah (per 100) .. Siam teal (per 100) Singapore (Stradle)
The Road to Security LEADS TO LOMBARD
What do you look for when you deposit your savings? De
"But ten years have
now
by
1
HOLIDAY IN AMERICA
Due to Independence Day celebrations in the United States yesterday, there was no American market.
WOOL SALES
OPEN IN
LONDON
By LAURENCE MEREDITH
London, July 4.
The first auction of the final series- of the current season's wool sales opened in London yesterday.
at
12,995 bales were offered, the opening yesterday, and to- day, 1,542 bales from the Falk-
from land
29 Islands and Argentina and tomorrow, 10,278 bales will be offered. The total offerings for the scales amount to 41,400 bales and the balance will be offered next week.
STOCKS
REMAIN WEAK
London, July 4.
Weakness of British Government stocks per- sisted today, led by 4 per cent consols which drop- ped 7 shillings 6 pence and War Loan, down, 5 shillings to 67% sterling,,
on
Other sectors were reduced, the 7 per cents down 2 sterling only feature was a speculative and that of the 6 per cents rush to get the shares of the down 1 sterling. Only movement Business done on the Hong-highly respectable Scottish
in Japanese was a decline of kung Exchange this morning Union and National Assurance one-half sterling In both ns- amounted to approximately Company
"laken-over $424,000.
stated and non-assentede of the Noon quotations and rumours, the shares shot up 11 the morning's transactions:
18909-United Press, shillings apparently very Shares Bayaro Beslem
persistent buying. Bales HANKS
1040 1000
SFLIPPING
00
on
im-
in
In Industriels, icbaccos proved peace or 0 pence, 300 ☎ 0016 apparently on short covering
Speculation 7.75 7.86 2000 a 720 purchases.
drpartmen! stores continued though the trend was
lower Provident. 19.00 13.30 1600 100 shillings 6 pence and Gaminges with John Barkers down. 4
down 3 shillings.
Trust
106 108
MAN 4632 2500 9 45.
800 @ IN
LAND. ETC.
HK Hole 164 28.70 500 10.0!
K and..
@30,28
Really
RUBBER
Amals.... 1.60 150 13000 @ 120 10000 ₫ 1,627
13 143
Sungla
UTILITIES
Trom
23.10 23.30
100
Youn
103 104
20
13
Electria ... 29.00 20.00
600
300 20.00
27.00 27.30
100
28
C. Light (0) 18.76 10 1700
13 (28) 10.80
Micro E... Telephone
70.20 1014 27.00
INDUSTRIALS Cement ...
5214 3295 Rope...... Amoy can. 2015 STORES, ETC. Daley
14.00 $14.00.
Watson *** 11.00 11.70 CUTIONS
Textiles
Nahyang
Gained
In oils both Royal Dutch and Anglo-Egyptiun
"B"
galnext
2320 3 shillings 9 pence and Canadian d Eagle held a gain of 5 shillings. 10.80 Somebody went after the Sucz Canal shares and saw the price 20.00 rise 2% sterling to 49% sterling. Germans were activo in both
4.75 4.80 1000 og 4.75
6.30
MISCELLANEOUS
Entert R.K. FE, Invest..
Allied
20
10.50 400
4.30 1000 0 4.05
Krupp Co Has Full
7
Orders
Rheinhausen, July 4. The annual report, for 1956 of the Huetten and
Record offerings from the UK Bergwerke Rheinhausen stockpile comprise the bulk of A G, holding company these selections of Australian of the Krupp Steel- wools in the grease, although various autumn' short wocks Works at Rheinhausen will be available in topmaking and associated coal and styles.
ore
an-
directioris, Young Lean rosé sterling-both assented and non- assented--but the Potash D$ senteda lost ground with that of
#
London Lead And Zine
after hesitancy at the opening.
London, July 4. Copper: The market was lèm
Prices:
Spot
Budnica
3-month
Buyers Sellers
Turnover: 1.100 tons
Lead: The market was very stendy. Prices:
First half July
Buyers Sellers
"
1
-
911 0155 Zine: The market was firm. Prices:
Turnover: 300 tona,
Buyers Sellers
First tall Jay Turnover: 1960 tone,
772
United Press.
PO BI EA:
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Outwards "CARTHAGE"
"CANTON",
"GORPU"
"CARTHAGE"
Staver Kondom
Salled 23/0
23rd July
alt August
18th September
Das Hongkong 29th July
24th August
22 September
2011 October
Via Southampton, Colombo, Penang' & ́Singapore;"
Homewards "CARTHAGE"
"OANTON"
"CORFU". "CARTHAGE"
Leaves Hongkong Das London
Let August 1st September 20th September 29th August
26th September 77th October
24th October 24th November Via Singapore, Pemang, Colocaba & Adc,
FREIGHT SERVICE
"BUNDA" duo 12th July
*SHILLONG” tonds 17th July
that from
“BALMARA" due sou: July
"BALBETTE" due 30th July
due 15th Aug "SOMALI”
re-
Iron
mines, THE BEST
nounced increased turn- Commercially and statistically over and full order the Commonwealth wool mar keting year ended with June and books but unsatisfactory the International Wool Seere-profits. tariat reports that over-all re- sof the United States (that is,
sults for Commonwealth pro- The report says 0.13ofitcial gold holdings less short- Mercedes passenger cars 4-
ducers are expected to be the turnover increased linbilities to foreigners counted for 69,001 of the total 16.62 term
best for years, 12.30 13.40 reported by banks in the Unitet compared with 03,003 in 1955.
Some of the Commonwealth 805 million marks (about The 20.00 States) has declined from $10.7
comapny's Managing 1.00 lien at the end of 1940 to
Director,
Mr Fritz Konecke, cups are belleved to have been 267 million) in 1955 to 880 $7.1 billion at the end of 1956.said monthly outpul
was ex-Zealand's
the largest ever produced. New million marks (about 78
wool production "As a result, some countries pected to reach 8,000. units have greatly improved their re- the end of this year. Some 38 estimated by the New Zealand million) in 1966, and
Woo! board at 472,000,000 b, commends FIL dividend of perve positions while others per cent of the firm's overall
(greaso) is three per cent langer | eight per cent. have not. The present level of output was exported fast year than in the previous season, reserves 1s the product of against 35.5 per cent in 1955. policies pursued by countries
PROMISING during that period as well as of the distribution prevailing at Mr Koenecke 'sald the United the beginning of the period. States was regarded as a pro- "Thero is on reason to suppose:] mising market for Mercedes that the relative valuation by cars, particularly in vlow of the
countries of various distribution Individual
contract concluded types of assets, including foreign with Studebaker-Packard in exchange reserves, would change April this year. About 3,000 drastically simply on account of Mercedes cars were exported to a rise in the price of gold.
the United States last year and The company planned to En- crease the number to about 800
manth.
6%
you look interest, Service, Courtesy ? Remember, these points are wortilces unless your savings are Secure. When you open a Deposit Account with Lombard Banking, younyessured of 6%% interest, full banking service, courtesy at all times-mid perfect security, Sum of Creo to £250,000 are invited for Deposit Accounts whh Lombard Banking. Write to The General Manager at Head Dice for your copy of "Back Depusk Account Booklet No. AQ.34 fateret pull half-yearly without deduction of United Kingdom Income Tax AAN
LOMBARD BANKING
LINITED
BANKERS
:LOMBARD) HOUSE
CURZON STREKT, PARK LANE, LONDON, WI
-GRO 4113 C20 Klage)",
DECLINE
+
had
South Africa's production is The balance sheet shows estimated by the South African net profit of 5,503,517 marks wool bound at 304,000,000 lbs (about £480,000) after 6,000,000 excluding akin wool, compared marks (about £600,000) with 208.500,000 lbs in the been qui to reseTVC. previous sa Go
with
of Council
Aus-
INVESTMENTS
The National Wool-selling brokers in tralin reported today thali The report said pronta on Australia exported 1,399,863,000 the steelworks, though not 45 lus of wool In the 11 months high as last year, had to be ended May 31. This compares set against losses in the coal 1,081,437,000 lbs In the mhing section, due particular- same period last year-Unitedly to investments In
new shaft at
dua Assen-Rosschray to start production in 1981..
Production companies wero: Coal 1,890,252 metric tons (1,824,051 In 1959). Crude steel, 1,952,840 metrie tons (1,047,395).
Press.
London Foreign
-Exchange
"It is much more likely that
Mr Koenecke said the com→ if such a once-and-for-all
pany would make special efforts crease in reserves took place, in
to keep prices stable. This would many countries they would soon not be easy In view of the tend to decline once more, with steadily rising costs, partly due the acquisition of other assote to shorter working hours and considered to be of relatively expenditure on social bencils. greater Importance to the In order to keep prices stable economy than the additional re- and meet an anticipated Derves,
crease in competition on world New York "To put the matter In an-markets, the company
would other way, a rise in the price of have to step up its rationalisa gold would represent a wind-
tion programasse. It planned to
of thes
d
Londony, July 4.
Closing rates weren'
Montreal
Amsterdam
Copentugen milian
270-1/16-270-3/16
啡豆
10.00-19.00
-140,10-150.15
19.334-1933%
17401-274014
19 181-12.93%
10:40-1440
of the group's
Iro arc, 1,210,800 metric tons (1,170,572),
The separate report of the Rheinhausen Stockworks Com- fall gala in the purchasing power invest about 100 to 110 million over foreign goods of all coumaries this year to improve or DAIO
pany showed that in 1088 the Parla tries possessing or mining gold expand production facilities
in Stockholm
company received 17.1 per cent in significant amounts.
Germany and abroad Invest-
of the total export orders · re- Vianna
72.31-79.30 "Many
countries,ments. between
steel 1948 and 1950 Zurich
12.2016-32,204
ceived by West German However, have been large-scale totalled 404 million marks, Mr United Press.
YenakDiet and Lisbon unchanged." | Arms—342,080 long out of recipients of foreigos aid in the Keenecke added.--China. Mell
2,001,037 tone. course the post-war period. Special.
Export deliveries during the year amounted to 15.8 por, ceņt-
export of the country's steel deliveries:
Sono of them employed part of this aid as a means of adding substantially to their reserved While others havo regtorded olher user of the old as being of greater priority.
V NAMESAKES
Answers-1 Sketch, 2 Kntek.
LONDON TIN MARKET
London, July À
The tin market we barely
erenset by 69,1 per cent in 1800, The tune onport orders in- and total orders by 12.1 per cent. orders on the peaks at, Dectin-
there seems lite reason to 3 Books, llustrate, & Brustendy. Spot fell 81% to 700 and suppose that countries would work 6 Siyle, 1. Black, & Trick three-months 15% to 100% ser view the acidliione) resources 9 Colour, 10 Pickwicking, cutioyer wna 80 com ber 31, 1950, talulled 187,100 provided by a re if the price Flanders, 12 Dickens.
pf gold differemiy fran the
Festirees, obtained in the, form (manova - Enitiator of Diakens Bymanth buyer
200| Jons-+-72,160 tons more then a
the end of 1950, - China Afeit Special.
E
*
from UX
ter Singapore, PL'Swet- tenham, Penang. Adén, Havre, London, IamTKA burg. Rotterdam, Ant- werp & Grangemouta from UK.
from UK,
from UJ
BRITISH INDIA S.N, CO., LTD. 1860 — A KUNDRED YEARS OF SERVICE — 1830
from Calcutta, Ilangvon "SANGOLA" Que 17th July
& Strata guila 18th July for Japan "SANGOLA” due · Cth Aug,
Dalia 7th Aug." "ORMARA” die 2001 Aug. salls 12th Aug.
from Japan
for Bingapore, Penang, Jon Calcutta from JapeD
10r Sigupere Penang Kangoon, Calcutta Chittagong
P. & Q./B. I. JOINT SERVICE
*OZARDA” due 7th July
sadie Sth*July "ISMAILA” dus 18th July
salla 17th July "URLANA” due 7th July salis 29th July
from Bombay, Cochlá,
& Singapore for Jagan
"OZABDA" due 7th Aug.
saža 9th Aug.
from Karachi, Bombay, Cochin & Bingapore tor Japan
from Japan
for Bingapore, Cochin, Gombay, Karachi, Bar- rah Roerquisisthy de Kuwait.
from Jaben
for Bingapore, Bombay, Kerechil, Banenky Khori kunastu & Kawal
EASTERN & AUSTRALIAN 5.5. CO., LTD.
"NELLORE" "Pia 10th July.
for Labuan. Sandakan, 'Rabaul, Brisbane, Syd-
nay, Melbourne Adriaide.
“EASTERN" ₫uy" 90s Aug," from Aistražia
-All vassois have liberty to call at shy parts on or off the route à tisa zonte & sallings are gajject to change or amendment with or without notion.
For full ghendurs apply 16 MACKINNON, MACKENZIE & CO. OF HONG KONG LIA. Telephone Has: MIZIG
·