Page
THE CHINA MAIL, FRIDAY, AUGUST 16, 1957.
TRADE and COMMERCE SECTION
MARKET STILL LISTLESS SMALL AVERAGE CHATTER
HK Lands Make Good Progress During Week
By A SPECIAL CORRESPONDENT
The Hongkong Stock Exchango seems to be feeling the effect of the Colony's heat-wave as another uninteresting and listless week passed on the market.
Although most prices tended to improve fractionally or remain unchanged the turnover
was well below average.
The only seek that made a cents and a bonus of ten cents Hood showing this week was on each share.
Hongkong
seemed well
Lands."
Traders.
satisfed with
of
Lands' interfa dividend
$1.20 and the shares were
in good dunand during the
Market Diary
Here is a markel diary of the
week. They gained 75 cells for week:
the week long at $36,75. At Friday: one stage they reaches $37 on Monday.
Different Effect
Monday:
Tursday:
Prices tended to harden fractional- ly. T/O: $577,000. Prices hardly move. T/O: $034,000. Trading on moder-
scale. Ale
T/O:
$657,000. Wednesday: General undertone
Tic Interim
divitem an- roue by Hongong Trams of 60 cents the same as last year --had
different a
effect traders, 1 seems they were Thursday: expecting a larger Interim for
On
n few days before the dividend Was announced
cet the stock rose to $24,40. When the dividend | Wha
announced 011 Monday,
20 cents
Trams dropped sharply and went down to their week's low
$23.0
1.00-yesterday, They IV- covered ten cents before
the close. kesinir
or week.
Honkong Electrics. which Jost 50 cents last week when their interim dividend of 60 cents was announced. made a recovery this week incking on 40 cents to close ti $29.0 China Lights gaired 20 cent, on the week closing at $10.00.
Banka, which are now being quoted on the market at the ex-all price of $005, remained unchanged for the week, but Union Insurance dropped $3,50 Cements made progress dur
Closed ing the week and $33.25, a gain of 25 cents.
Middle Quote
ધ
satisfactory.
$470,000, Remained
T/O:
steady.
T/O: $515,000.
New York Sugar Market
New York, Aug, 15. World No. 4 sagar futures today closed un- changed to 11 points higher with sales of 752 contracts,
11K Bank Lombard Union Wheelock HK Whart HK Docks
★ The Share Market At A Glance
Up or
July 18
1750
July 26 1770x1
Aug 1
1820
Aur B 1620
Apr 16 905xall
Down
steady
3748
878
366
*
35m
4800
9434b
www.
36
064
93
$8.00
#
7.05
B
7.80
109
111
112
114
114b
454b
47
48
4854#
484
--80 steady
250
Provident
12.
12.30
11,60bxr
11.00
IL.EOD
--100
NK Hotels
15.30
18.00
15.50b
18.00b
15.50
steady
HK Lands
351
36
1514
酒:
3014
+750
11K Really
1.45
1.475
1.475b
1.476b
144
+40
HIK TramIS
24.10
26.70
24.00
24.20
24
-200
Star Ferry
185
1840
136
1850
185z
steady
Yanmails
104
100
100
100
107
+$1
Ch Lights
18.00
18,70
18.00
18.70
18.90
+200
Electrics
20.00
29.00
30
29.50
20.90
+400
HK Telephone
27.80
28.80
28.10
28.10
28
-100
G.1. Cement
326.
331
33%
33m
14.75m
16.80
15.00m
15.60
3242 15.60
++23
11.55m
12.50
12.70
12.406
12.80m
0.35b
645b
6.45b
Gn
0.405
-+100 +200 100
4.55
4.30 xela
4.25
4.20
4.28
10.70b
11.30#
IL
11.20
10xd
stendy -400
4,33
4.35
4,325
4325
4.825
steady
0.40
0.30
0.25b
0.266
0.85
+100
Dairy Far A.B. Watson Yang.se Atiled
K&FE Inv Textile Corp Nanyang
HONGKONG
STOCK EXCHANGE
Our Own Correspondant
Sales
20.000
COTTON FUTURES
HAVE QUIET DAY IN NEW YORK
New York, Aug. 15. Cotton futures trading proved indecisively quiet.
A selling spurt wenkened new crop Cel/Dec. deliveries at the close while other months held
WORLD
Business done on the Hong- Responding to small orders either way, the kong Stock Exchange this morning
to amoun od ap-market see-sawed narrowly on either side of the proximately $335,000, Noon previous close. quotations and the morning's transactions:
Shares BANKS HK Bank
Union
Whoclock.* The domestic No. 8 contract closed unchanged to three points DOCKS, MIC Jawer with sales of H coll. Whart
Dock Pvident (0) tracts,
LAND, ETC. HK Hotel
Strength in the world contract reflected a firmer raw situation where recent pressure of Brazi- an offeringa subsided. In fact, Holland and the United King- dom reportedly bought an un- disclosed amount of Brazilians. Contract No. 4 (world) September
October
JARNSTY
March
Buyers Ballers
000 DOTIS
DL EGIS
7.75
7.90 20000 7.8
INSURANCES SHIPPING
to
relatively steady. Final conge was unchanged 16 points lower. The market opened off 5000 7.80 six to ten points. New Orleans 114
closed up one to off seven points. 40 41
Scattered liquidation and 1100
1.101.1214
125 110 hedge selling supplied a routine demand from local operators 1515 15.00 2000 @ 10
various and 15153
trade interests. Now outside market Interest Land
1020 10.10 2000 @ 16.30 continued to lag while traders Humphreys Really .... 1.470 1.00
RUBBER
developments or Amalg UTILITIES
Tram 23.80 24 300 123.90 Yaumati
101 107
3056 2016
1.475 1.623
C. Light (0) 10.80 10.90 200 15.90
awal od drop other new incentives.
Consideration
Some traders awaited posible Senate consideration of a
RUBBER
MARKETS
New York, Aug. 15. Rex rubber futures today closed unchanged to 13 points lower with sales of 36 contracts.
Sept.
Nov.
bil
Jan
May
July
20 20.10 20000 2010 which would allow producers a 20 per cent increase in nereage allotments with the parity level
1.63-3.04 3.04-05 3,01
2000 18.30
1.75
(A) 12.00
1300 19
May July
Flocirio
Macao E...
29.70 29.90 1000
10.40 10.00
20.00
3.76
Telephon
INDUSTRIALS
October
3,74
Spot-centa per
Cement...
Chiba)
1.80
Hope
Open interest: 5,431 contracts.
Contract No. 6 (domestic)
STORES, ETC.
Dairy
Watson
32 3314 1035 .... 10.00 10.70 12.00 12.70.
4.61
0.58
5.49
4.60
6.05
In the stores section, Dairy September
whic Farm Cainel ten cents, Watsons guined 20 cents on the week closing on a middle quote of $12.60.
Hongkong and Far East In- vesiment were sold at par, yes- terday losing 40 cents ON week
.....
September November March The May
September November
6.05 Spot-(rents per lb, elf NY
ex-duty).
....... $.00 Open Interest: 1,853 conlmets.
-United Press.
a
after they were quoted on the market čx-dividend.
Turnover for the week was $2.85 million, a little over million more than last week's. Tally for the week Wad ten higher, six unchanged and eight lower, compared with the pre- vious week's tolly 0C higher, ten unchanged, and eight lower.
six
Hongkong Engineering and Construellon Company declared an interim dividend of 1cn
NAMESAKES
Answer: Wrongs, 2 Bishop.
3 Medieval, 4 Allegory, 5 Lines, 6 Satire, 7 Poem, 8 Plough, Chaucer, 10 Anger, 11 Religious, 12 Malvern, 13 Attack, 14 Bit- terness, 15 Dream.
William Langland.
MORE AND MORE PEOPLE ARE OPENING BANK DEPOSIT ACCOUNTS
with
LOMBARD BANKING SECURITY: Group Assets Exceed £12,000,000
STABILITY Conslatent Interest STRENGTH Knowledge and Experience SAFETY No Risk of bepreciation SUCCESS Unequstied Sertly STANDARDS The Best in Banking
Bank. Deposits of £100 to £250,000 socrple! Internet paid half-yearly without doduction of United Kingdom Income Tax.
Senet day for your copy of "Bank Deposit Account Booklet No, AD.7% from General Bladagse
LOMBARD BANKING
LIMITED
TANKERS
Head Ofte LOVDARD HOUSE
CURZON STRKET, PARK LANE, LONDON, W1
URO 411 (30 km)
Pranchas sing Agents throughout the World
COTTONS
Fexules
430 43026 Nanyang.. 9.35 INVESTMENTS Allied
1500 12.00 8.10 12.00
Bopt.
102.27
32,20
32.20
32.10
31.03
21.00
31.00 Standard contract closed un- changed to 13 points lower with per no sales reported.
to be lowered to around. 75 per cent. 500 12.0 cen
The loan rate for the 1957 crop
has been at 78 cent of parity.
Crop accounts featured private survey indicating fairly Good progress in Eastern sections during the week. Im proved conditions in the central belt brightened yields prospects for that area. The for WIS reported excellent conditions,
420 430 2000 @ 4.20
WALL STREET SHAKES LONDON MART
London, Aug. 15. Stock markets were
today shaken Street's, further tumble last
a
Seat,
Nuv.
bolt
Jan.
Mar.
May
Juy
Sept.
204.22
12. 20
39.10
31,93
30.00
31,00
GAINS ON WALL STREET
New York, Aug. 15.
The stock market finally achloved a small average gain after several abortive attempts, but the rise was insignificant compared with recent losses.
Bargain hunting lifted some of the leaders a point or so-issues such as Chrysler, Eastman Kodak, Johns-Manville, Gulf Oll, US Steel.
Camp.
For the most part, however, Berling Drug Co. changes
and
Stokely-Vac wero narrow
Brudebaker-Packard Corp. mixed. Of a total 1,189 fasuca wirt & Co. traded, 407 were lower on the Rose Co. .. day 133 setting now lows, while 301 were higher, with five at new tops and 281 unchanged.
Activity still was attributed Union, Pacific Railway chiefly to professionals. In
ย
Tide Water Ames. Ou Time Inc, INKOLASIT twenty Century Fox Film Union Carbide ...................
United Aircraft
United Gas Comp direet reversal of Wednesday a ús. Foll "0" market, which was cilmaxed by
a
UB, Gypsum
S. Line Co. US, Rubber
last minute selling spree, prices were pushed up on a late UR. Beresting rally which lifted volume.
Tarnover exactly matched Water Bros. Wednesday at 2,040,000 shares.
Wide-Moving
U.9, Steel
Westinghouse Electric
Western Union res. Co.
Woot Va. Pulp & Paper Woolworth
ON WALL STREET
New York, Aug. 15. The Fitch Service be- Heven that while long-range considerations are stil on the favourable side, the im mediato business and mar ket pictures appear beset by mild contrasts that could work against a sustained recovery in both sectors.
· Edmund W. Tabell, ullalyst
for Wallson & Co. wys the out- look for individual stocks abou continue to be the main concern
than rather
current markei
as gyrations.
112
23
GE***
2
68
22]
Moody's finds no bull market nor real bear market in sight.
Bhearson, Hamm!|! B Co. feels bargain hunters should logically pay special attention
to such groups
international
I the steela, ofis,
12 electrical equipment producers,
heavy
43.
G7
missile mokers, banks and certain electric utilities.—United Press.
41"
407
New York Foreign
Unlbed Prem
There were some wide-moving specials which reflected indivi- dual corporate news announce→ ments Western
Maryland, up 12 points and Pittston Co., up two, оп favourable earnings statements; International Nickel which contiued to decline in reflection of America's reported decreasing dependence upon nickel production. industrials recovered 1.37 poants Singapore (strasi)
Exchange Rates
Measured by ibe BVETĽNCE,
tu 407.30 while rails gulnod .02 143.20, utiles .10 to 04.30 and the t5-stocks 35 to 188.75.
Leadership was top rate with Bedileher Steel, Chrysler, US Steel and Jersey Standard the most active BCE,
NY Stock Exchange bond volunic was $4,212,000.
American Slock Exchange volume was 630,000 stores.
Closing Prices
Allied Chemicals
Allied Mills.
All ChabTERM
American Airline ....... American Cabla de Radio Corp.
Amperiosa Cyanamide Co. ... Amer. & Forgn. Power Am. Gas de Electric Am. Mach de F'dry American Motal ..........
American Spelting Am, Bugarites...... American Tob.
American Tel. 3 Te
Auconda Copper Armco Steel Armoury!
Atlas Cabs. Minning Baldwin-Lama-Eur.
· Baitimard & Ome
Beneficial Finance
Hebaix Aviation Corp.
Benguet Cons.
Bethlehem Steel Boeing Airplane Campbell
Landau Facile R
Case (J. I.) Co.
Cat. Tractor
Celance Corp.
C. 1. T. Financial Corp.
Chase Marthat, Bark
Chrysler Motors Ciumax Molybdenum Colgate-Palmoliya Co. Columbian Carbon Co. Commercial Credit Commonwealth lee, Consolidated Edison Continealet Olt of Dei,' Crown Zellerbach Cubars Amer, Sugar Diamond Alks
Trading again proved routine affair will dealers on The Commodity Credit Cor- both sides of tha market. poration reported 1957 crop loan Shipment business was reported entries for the week ended Aug. negilgible. Offerluga wero Douglas Aircraft B totalled on 41 bules for a total light and higher prices with
of 103 bales to date. Last year factories and other consumers the same time, entriesį uninterested. Spot No. 1 Rss
bales. was quoted at 32 cents. impoundings
SINGAPORE
wmounted Lo 0,203
Traders expected
to increase as picking and gin-
by Walling operations gather headway. The market opened higher on
night of nearly seven points
to the lowest level seen for
months,
4
Investors backed away
The
recent hurricane Ebertha
Dow Chemicals
Dupont de Nemours
astern Airline Eastman Kodak
Paso National Gas Feaily Finance Corp. Firestone Tyre & Rubber
Ford Motor
General Electric
General Foods
General Motor
Ginity Oil
Glidden Co...
Goodnich (B.F.) C Goodyear Tyre Gulf ou
restricted harvesting operations better overseas advices and over-den. Pub. Uti. and partially
the night acceptances. explained low entries, traders though!-
There was a good enquiry for lower sheets but sellers WOTC reluctant. Also there was fair interest by factories and some small China enquiries.
United Press. Atonth
will! Oct.
the New York decline has ceased; Dec the Dow-Jones average, closing may last night at 494, has already July Lost, since the end of July, 15 of Oct. In 1957 rise..
Today's buying of dollar stocks which lifted the prorpium from
13
per
cent to 15% per cent,
is
Volume Open interest
17,700
0,100 17500
260,000
13,000
151300
0,200
147,900
7,100
101,800
1000
109,800
Dec.
Total
3100 S11000 $1,100 119,000 bales
NEW YORK
30.200
33.90
Future closings were;
No. 1 rubber per lb. Sept. 22%-023,
Oct. 93-94 Nov. gauled No. 2 rubber per b. Sept. 9-1 No, 2 rubber per lb. Sopt, Di1-91a No. 4 rubber per 1. Sept. 2834-0834
Pricee of cotton future closed Spal, rubber unbaled still professional, tidying up today as follows:
Danket grepe No. 1 palo crepe.. the disorder created by the Spot Government in closing down clober last month on the purchase dollar
through stocks Middle East.
WAR LOAN..........
December
of Mar.
July
the May
October December
Chief battle in London today was over the future of War
NEW ORLEANS
33.31
34.04
24.01
32.67-CB
200
LONDON
The rubber
market steady with spot quoted pence per lb. Prices No. 1 s pet
2014-2015 100-102
Hestion Newport Corp. Homeslake Mining Co. ingersoll-Rand
Inom Steel Co. Int'l Business Machines Int Harvester vase
Paper Int! Tal & Tel John-Manville Co
Katuns C. Power & Light Kernecalt Copper Liggett Meyer Tob. Ca. Lockheed Aircraft
Loswa Incorp.
Lone Biar Cement Co. Lowenstein & Bona. MeDonnell ALUTIS
Stock" "Enge)) closed
Michl Iron Cor at 274 Minnesota Mining
Masion Development 3752-2736 | Montgomery Ward
Motorola ng panu ZEL=2714 | National Card Xing.... 211-2734 Nationat Dairy Prod 211-273 | National Lead 2014-079; | National Steel Corp. 2142-273% New York Central General markets, cit basis, ports: Olin Mathieuces
Settlement housg tenn; August
October/December
January/March April/iune
***
53.00
94.01
August
September
October Falsta crepe thin Begit.
thick
Prices of cotton futures closed September Loan, It opened this moming | today as follows: at 280-2-0, unchungod froni pus
October Jast night's elose, but it was so December heavily sold that it fell to 200 March only 3/0 above its all-time May low of £05-7-8 touched on July July
October The government stock- December 16. broker moved into the fight and lifted it back to £66-7-6ˇbut by
LIVKUPOOL - the
had to retreat close bo
Coiton future closingo, somewhat and the famous stock: pence per lb, were as follows: closed at £00-1-3.
Old contract Oct/Nov. Dec/Jan.
May/June July/Aug.
Among industriala the 12- activity was striking] a few changes of six perce, seemed to take care of all demanda
Gold shares enjoyed some more French buying and showed Olla rice of a few shillings, However, were easier with Shell 2/- and Royal Dutch down 4/-
German bonds were vory
jumped £1-10-q and the un- sontèds alm
New contract Oct Nov,
Ded/Jan. Март. May/June
SAO PAULO
in
35.20-10
37.30
1
27-173
Ou Elevator... Owen-Illinoia Glas 2732-2734 | 3acie. Ora ♣ Eleg. ...........
Pan American Airways unquoted Paramount Pictures ---United Press.
Parker Par & Penny J Peon Bell Cp. Fallip Morris Prostar & Gambla cu Pittsburgh Pinto Glass Publicker Industries Pure Oil RILANMAS Radio Corporation | Republic Steel Heynolds Metal Sears, Roebuck & Co. Shell Oul Co... Balay Reg. Paper Esociale Cit
London Foreign
Exchange
London, Aug. 15. Closing rates were: New York
2.701-2,96-8/16 STORİTERL Amsterdam Arumla
In the United States, the over- Copactwem
Milan strong. Young Logo non-arsented age price of one-inch cotton ot
14 designated spot markąta was stockhoun 1-10-4 whße 44.64 cents.
Ferenczo others gained 5/-. were quiet.—United Pre
VIDAR Total malae wpcs 9,091 bales~ | Des United" From.
10.04
s
Socony Mobiloli Solar Aircraft Bouth Puerto Jigs BugaY Southern Co., (The) Southern National Cras
| Beuther Raliway (Coen.)
Bandung
Standard 05 DE NI.
04
Exchange
New York, Aug. 15.
Closing rates were: Cannda
Business was done 311 the local England officlar
market
unofficial
unometal exchango morning at the following roter: | U.S. dollar. (per #3)
Sterling soles (per £1) Australian notes (per 2!)... Indonesian manish (per 100) Siam teal (per 100)
મ
30-day
-
0.0%
20-643
15,00 Ausiratla 13.18 New Zealand 10.00 South Africa 17.30 Others unchanged,
1.00
*
»
»
*
P.OBYE
1.05 23/33 2.7814 2.01-2.00
2.7716 2.76 5/10
1.2 11/13
5.717 6/20
2.70 11/10
-- United Prova,
E.A
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Outwards "CANTON" *COEFT"
"CARTHAGE”
"CHUBAN"
Homewarda
"DANTON"
Leaves London Selled 2/7 But August
10th September
1st October
Une Mongkong zeth AuguNO 22nd September 20th Oujobes 30th October
Vis Southampton, Colombo, Penang 'n Bingapore.
Leaves Hongkong Due Loudon 29th August
26th Bogiembar 20th September 29th October
Nih NoyanITIET 24th October
In November 29th November,
"CONFU" "CARTHAGE"
"CHURAN"
Via Singapore, Penang, Colombo & AGED.
"SOMALI"
FREIGHT SERVICE.
due 20th Aug, , from UM.
“SALSETTE” loads 21st Aug.
salad Aug.
fer London, Hamburg. Rotterdam, Antwerp vi Straits & Aden-
“SINGAPORE”due 23rd Aug, from, UK.
BRITISH INDIA S.N. CO., LTD.
148 – 4 HUNDRED YEARS OF SERVICE — 1856
"ORMARA" In Port
ails 10th Au
"BANTILIA" due 20th Aug.
molta sikt Aug. "SANTHIA” due 9th Sept. salls 10th Sept.
from Japan
for Singapore, Penang, Kangoon. Calcutta Chigong
from Calcutta, Rangoan
< Strate for Japan
from Japan.
Iar Bingapore, Penang, Rangoon à Calcutta
P. & 0./B. I. JOINT SERVICE
"ISMAILA” due 20th Aug. salis 22nd Aug.
"TTOLA"
"ITRIA"
dus zîth Aug. aalis Sist Aug.
que 30th Aug.
sallı Lak Segl.
from Japan
for Singapore, Bombay, Katachi, Ensemb, Khor- ramanabr de Kuwait
from_Jua
For Gingspote. Penang. Bombay, Harmoni, ö
from Kenobi, Bombay & Cochin for Japan
EASTERN & AUSTRALIAN 5,3, CO., LTD.
"ARAFURA” 4»* “EASTERN" de 0/9th Sept,
Bala 10th Sept.
40: Gept.
from Australia
for Labuan, Sandakan, Rabaul, labana; Byd-
MAboume Adelaldu
ALS VERDİK. DAve liberty to call at any perte os of off the rents a the route à sailingy áre mihjeet
to change or amendment with or without notier.
dor fuli parfoniors upply to
MACKINNON. MACKENZIE & CO.
OF HONG KONG LID Telephone Nos: 277214
*
*