Page
{ THE CHINA MAIL, FRIDAY, AUGUST 30, 1957.
TRADE and COMMERCE SECTION
MARKET Wharf Shares Continue
Fantastic Rise
By A SPECIAL CORRESPONDENT
The Hongkong Stock Exchange closed for the long weekend yesterday on a steady note after a quiet wook of trading.
Most stocks remained at their same levels or improved fractionally during the week.
and
Hongkong and
Kowloon "Share prices," he continued,
their Wharves
"are still on the average some- continued pibencinetal rise
glosed what below the levels of July with a middle quote of $124. 1956 and cunsitlerably below tho
on peak of July 1955 figures. A block of 20 was Hold Wednesday for $125, the highest price that has ever been paid for this share. This particular stock has risen $12 since the month. It beginning of the lucked on $7 for the week.
Good Businsss
The good business now being enjoyed by godowns is ulso which shared by Providentn. Ralued 40 rents on the week to close at $12.20.
"Paradoxically, most of the focal public companies showed better camming figures for 1050 than for 1055.
"It is believed that this trend has continued Into 1057, 113- in local dicating nu increase transfecturing
industries,
the fourist Trode and in con- Mr Baron structional work," ended,
Market Diary
Here is a market diary of the
Hongkong Bouks continued week: their downward trend kaging
another $10 on the week to Friday: clone at $800, Last week they
Just $15. The Tactor that is
bringing Tanks down is the Monday: persistent eing
shares from London
Jocat
market.
Banks
Prices maintained. T/D: $450,000.
CLOSES STEADY Cotton Futures
CLOSES
* The Share Market At A Glance ★
BK Bank Lombard
Union Wheelock IK Wharf
HK Realty
HK Trams
-810
steady
L
Aug 1
Aug B
1920
1820
Aug 15 905x11
Aur 22 800
Aug 28 800
Up or Down
Job
$5
354m
33a
3148
-800
90
DB14#
93
00
00b
8
7.85
7.80
7.80
7.80
steady
112
114
114b
1176
12(m
+-
HK Docks
4814
48143
#834
48340
496
+500
Provident
HK Hotele
11.00brx 15.80b
11.90
11.30b
11,80
12.20
++-400
HK Lantha
3534
15,50b 30
15.50
14.40
15.40
steady
30
30%
3034
nicady
1.475b
1.475b
136
1148
24.60
24.20
24
23.80
24
136
135m
1352
131nxd
131
steady +200 steady
100
100
107
108m
10814m
--50c
18.00
18.70
18,90
18.30
18.70m
++-200
30
20.50
20.90
23.00
20,20xd +-300
28.10
28.10
28
27.00
27.70
20c
3314
33m
3314
3214
324
250
15.00mm
15.50
15.00
15.70
15.80
100
12.70
12.401
12.60m
12.00
12.55m
+00
6.451
6 n
0.40b
6.60%
8.550
c
4.25
4.20
4.20
4.259
4.253
11
11.20
13xd
10л
10.20s
steady ++200
4.325
4.325
4.3253
4.30
4.475
9.25b
9.25b
9,35
9.45b
9.80
+174€ +350
Star Ferry
Yaumatis
Ch Lights
Electrics
HK Telephone
GI. Cement
Dairy Farm
A.S. Watsoni
Yangtze
Allied
HK & FE Inv Textile Corp Nanyang
WORLD
RUBBER
MARKETS
New York, Aug. 29. Rex rubber futures today closed 45 to 60 points lower with sales of 95 contracts.
Steady tendency.
·T/0; $521,000.--
Sept. Nov.
the Tuesday:
Mor
Featureless runtkel.
May
T70: $573,000.
July
Sept.
Utilities are holding well and
on the whole they made gains Wednesday: Little movement.
on the week. Trams tacked un
20 cents: Electrics, 30 cents; and
Lights, 20 cunts. Telephones Thursday:
dropped 20 cents on the week.
Lose Ground
25
Cements continued tu Loxx ground, dropping another cents to clow yesterday at $32.25.
Good
business WEN very
evident in the cotton section
T/O: $453,000.
Quiet and steady
tone, TV/O $543,000.
New York Sugar Market
New York, Aug, 29. World No. 4 sugar futures
30.50
90.76
30,70
30.00
30.10
30.65
30.30
Standardi contract closed 45 to 30 points tower with по sales reported, Closing prices;
Sept.
Nov.
Jan.
Mar.
May
July Sep1.
30.00
10.15
10.70
30.07
30,15
30.05
30.00
after a The sharp reaction, two-day rally, largely reflecled the lower cables from Singa- pore and London, plus technical reasons as recent buyers looked with both Nanyang and. Textoday closed unchanged to ahead to the impending long tiles up. Nanyang: closed at $9.00, a gain of 35 cents, while three points higher with weekend holiday. Textiles gained 17% cents on sales of 818 contracts.
Selling aleo was coupled with the week to close at $4.475. Domestle No, 6 sugar futures the ready availability
of spot Tumover for the week was close three to. 13 points higher and nearby rubber in Singapore, $2.54 million, over four lakhs with sales of $4 contracts.
China reportedly bought around less than last week. Tally for Prompt absorptions of 3,000 lons there yesterday, but the week was ten higher, seven | September deliverles notices and teulery sold the purchase "ep- lower, a Armer situation in the rawparently was not enough to re- unchanged and seven compared with six higher, four market dominated the world eve the pressure unchanged and 14 lower last delivery. Trade covering in market." week.
November featured in the do-3 mestic delivery.
The Hon. H. D. M. Barton, Chairman of the Hongkong and Fur Eastern Investment Cu. Ltd, gave a good account of the stale of the Hongkong Stock Exchange in his speech at the annual
general meeting of the Company on Wednesdny, •
Not Reacted
October
Contract No. 4 {world}
September
4.32
January March
May July September Dctober
Spot-(cents
per 1. fol
Cun) Open interest: 8,471 contracts,
Contract No. 6 (domestic)
4.40
NOYCUBS
0.00
Ex-
March
September
November
Sporenta per 15. cit Ny
ex-duty)
3.50
5.10
Open Interest:
contracts.-
United Press,
He said that the Stock change had not reacted to thei recent British Government's an-) nouncement of the relaxation of Some
restrictions of the Chinu trade.
May
The Book of the Year for GREATER INTEREST
Send for this free booklet, today
LOMBARD BAN
us me
on that
Consumer interest here 203- tinued slack, Spot No. 1 Res was quoted at 30% cents,
SINGAPORE
The market opened around the previous levels but eased on profit-taking and some further Sept. liquidation despite good enquiry for lower sheets.
There was come small factory interest. Futures;
STOCKS DECLINE ON
PROFIT-TAKING
ON WALL STREET
By DOROTHEA BROOKS
New York, Aug. 29.
LONDON
AT LOW
LEVEL
London, Aug. 29. ' Stock exchange business was on a low level with the
volume of bargains record- ed almost unchanged at 7,340 compared with yea terday's 7,324.
Have Small Gains In NY
New York, Aug. 29. Cotton futures today opened steady and maintained small gains for the rest of a generally quiet session.
Closing around the day's best levels the list was up seven to ten points net. The market opened off three to up three points. New Orleans closed ten points higher.
July
33.82
Oct. Dec.
3.70
12.72
NEW ORLEANS
Prices of cotton fulures closed today as follows:
Spol
Det
Dec.
Mar
May
July
Oct,
Dec
33.05
23.01
1.01-
23.07
麵
Local operators and the trade were moderate buyers, but market analysts attributed the improved tone more to a lack of selling pressure rather then any particular demand. Briush Governmenta were Traders found little In the inactive but firm; changes were news to kifluence prices elther upward-by 1/3 or 2/60.
wty. Some sources commenced }ic even-up positions before the There
only was
moderale
After |long weekend holldnya. buying of leading Industrials the holidays, merkel attention with some preference shown for is expected to be directed more chain stores and for engineer- toward ing. An exception was Unilever estimate, due in Sept. Some pence per lb. were as follows:
the government which lost 1/4 to 103/6, com improvement over the August pared with its 1957 peak
iguro
bales of 11,837,000
Is Oct/Nov. 114/6.
Dec./Jan. generally expected.
Mar/Apr. Loan entries for the wack end- May/June ed on Aug. 24 rose sharply to July/Aug. 2,400 bales from only 98 bales down in the preceding week.
The Dot. Nov. Dec./Jan. from net stock of 1957 crop, cotton Mar/Apr. British under loan amounted to 2,588 May/June
Dutch bales.
LEADING OILS
Lending olls were all by amounte ranging Burmah Oll's 1/3 to Petroleum's 3/3; Royul cased 2/6.
the
of
NEW YORK
[TON
35030
Germun Dawes Laun was Prices of cotton fulures closed firm with thye non-assentrda today as follows; rising 15/- and 10/-. Japanese were changed except a couple of tho assenteds which_rose_5/-.
ntsented
Sput
1:n-
Oct
Dec
Mar
May
lower
Dollar stocks mostly but the premium which reflects demand "hére rose për cent Lo 10
cent, United per
Stocks declined on profit-taking to the tune of Press. another two billion through mid-session then did an about-face to pare losses by more than half,
The recovery care on the heels of news that Russia had flatly rejected the West package deal in disarmament.
Most stocks throughout the list came up substantially from the day's lows and some scored good gains-Chrysler in particu- lar with a rise of over a point.
1.115 issues
Colombian Carbon Co. Commonwealth Elec. Commercial Credit Conantidated Edison Crown Zellerbach Diamond Alkall Cuban Amer. Sugar
Lamond Match
Douglas Aircraft
Dupont de Nemours Dow Chemicals....
Oul of a lota! appearing on the tape, however, only 257 managed to close high-Eastern Airline er while 011 were lower, 2:47 unchanged.
Industrials
Industrials Anished off points ut 470.00 in the Jones
CHICAGO GRAIN
MARKET
Chicago, Aug. 29.
Grain futures
finished
101 lower on the Board of Trade
*
*
*
*
*
LIVERPOOL
Cotion future closings, in
July/Aug.
Old Contract
New Contract
SAO PAULO All prices unquoted.
FRESS
the
in the United States. average price of one-inch cotton at 14 designated spot markets was 33.45 cents.
Total sales were 17,083 bales. United Press.
322
PO B·IE.A
COMPANTES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N, CO.
"CARTHAGE"
Lences London
Sailed 21/0
18th September.
Ist October
30th October
IGth October 18th November
Via Southampton, Colombo, Penang & Singapore.
today.
30%
203%
A weak corn market set the trend for the rest of the grain
Outwards "CORFU"
33
list.
The Government sold a
90
million bushels of corn, cutting into the demand for the golden grain.
Expectation of heavy
the
corn on
firgl
*;
"CHUSAN" "OANTON"
Bue Hongkong
22nd September
2013 October
Eastman Kodak ...
El Pavo National_Gas Family Finance Corp.
Firestone Tyre & Rubber
237
Ford Motor...
597
General Electric
General Foods
$74
General Motors
42
Gen. Pub. U.
18
Geity Ou
301
tenders of delivery day for corn tomorrow also depressed prices, especially in the nearby September con-
*
Itomewards "CORFU"
*
1.73
Gudden Co.
Goodrich 9. F) Co."
3412 tract
072
Goodyear Tyre Gulf of
12R22
Wheat was down in sympathy with com, as was oals and rye. Trade in both the corn wheat pits was active.
Leaves Hongkong Due London 20th September "CARTHAGE" 24th October "CHUSAN”
2711 October
21th November
3rd November
30th November
"CANTON"
23rd December
*
and
Dow while average
rails dropped 1.77 points to 134.03, a new low since Dec. 3, 1954, and utilities cased 10 point to 67.52.
Volume lagged throughout the session and totalled only 1,630,- 000 shares, lightest in a week, with 1,840,000 on compared Wednesday The lack of pres- zure against the list apparently brought some support.
No. 1 rubber per is. Sept. 071-091% Oct, 00-0015
In the aircrafts, United and Nov. unquoted Martin closed with gains of No. rubber per lb. Sept. 874-03 No. 3
675-673 nearly a point while Lockheed No. 4 Spol rubber unbated
was of around a point on the day. Blanket crepe
"
No. 1 pale crepe
LONDON.
60-00 79-80 00-100
Olls had losses running nearly to a paint in Continental and
The rubber market was casier | Gulf, but most in the group with spot down to 20 pence. were little changed. Prices:
No. 1 Ras ppol .......... 2516-205% Settlement hauge term:
Oct,
Nov.
Dec....
OCL/Dec.
Jan/Mar.
Apr/June
July/Sept.
Sept
20-2014 2015-201
New York Stock Exchange bood volume was $3,479,000,
Američan Stock Exchange 2018-volume was $30,000 shares.
2014-2023
2014-20
2017-201 Dow-Jones closing averages were:
General markets, eff bama, purtas
Oct,
Nov.
23-11-20 20.201 2014-2015
30 inchustriais
20 rails
25 title
Estato crepe thin Sept,
06 Rocks
thick Oct. iniquoted.
-United Press.
40 bonda
Heyden Newport Corp. Homestake Mining Co. Ingersoll-Rand
Inand Steel Co. Interchemical Corp. Int Business Muclines Int'l Harvester International Nickel International Paper Int' Tel & Tel
J. Ray McDermoti John-Manville Co.
Katser Industry
Kansas C. Power & Light Kennecult Copper.
Liggett Meyers Tob. Co. Lockheed Aircraft Loews Incorp...... Lone Star Cement CD. Lowenstem & Sons. McDonstell Alre oft
Stock Exge.) Mesabt Iron Corp. Minnesota Mining Monsanto Chemical Cu Montgomery Ward Motorals Inc. ..... Natooes coat Ker. "A" National Dairy Prod. National Lead National Steel Corp.. New York Centrei Norfolk & Western Olin Mathieson ........ Otis Elevator
Owen-Illnois Glass Oxford Paper Pacific Gas & Mec. Pan American Airways Paramount Pictures
jarke Davis Co.
Penny J.C. Co.
Comm. future price index 157.10
Closing Prices
Publicker Industries
Pure O*****
Hadio Corporation Republie Stool
1
SUFFERED
Soybeans also
*
*
suffered
in
91%
40·1%
the September contract due to tomorrow delivery date. They
12)
34
sold down to two cents lower
in this issue.
+
372
In
181 West
Germany
31
purchased
JAM.
34
3512
the export market, "both
and
Korea US hard wheat. 18% Small amounts of corn and soy-
beans went to
England. The Government sales of corn were 2 sold to
exporters In North 384 Atlantic ports, New
*
Orleans
und Laredo, Texas.
Grains
at
outside markets, were mostly lower.
*
Wheat closed off
to up cent for new and off 1⁄4 to up cent for old.
Soybeans closed off to up
cent.
22nd November
"SOMALI"
joada 3rd Sept. all th Sept,
Via Singapore, Penang, Colombo, Bombay & Aden.
FREIGHT SERVICE
for Lendon, Ilarnburg, Rotterdam,
Antwerp Via Stratt Ader & Havre
"SINGAPORE" loads 14th Sept.
DO- Balls 1911 Sept. (also calls Port Sudan)
do 15th Sept. from UK.
due 26th Sept. from U.K.
"SOUDAN"
"SURAT"
BRITISH INDIA S.N. CO., LTD.
1258 --- A HUNDRED YEARS OF SERVICE --- 198
"TTINDA" duo Sept. from Japan sails 7 Sept.
"SANTHIA" due 9th Sept. sails 10th Sept.
"SANGOLA" dao 24th Sept. saila 25th Sept.
for Singapore, Penang.
Calcutta
Rangoon, Chittagong
from Japan for Singapore, Penang, Rangoon & Celestin
from Caloutts, Rangoon & Siraits ¡us Japan
P. & 0./B. 1, JOINT SERVICE
"TTOLA"
In Port
salle 31st Aug
dus 14th Sept. valla 13th Sept.
from Japan
for Bingapore. Penang, Bombay, Karachi, Bhavnagar
from Japa
for Singapore, Bombay, Karachi, Dubál, Basrabi, Khorramshahr de Kuwalź
from Karachi. Cochin de Kingapore for Japan
476.00
134.03
Penn. Sail Co.
Prices per bushel in cents: Wheat old contract
07.52
Phily Morria
September
Procter & Gamble Co.
4915
December
Pittsburgh Plate Gizus
7112
Wheat new contract
Boot
2150
3014
Sept: 218 (1) 214527 December
*IKAUNA"
Marell
Heynald Metal ......
MAY
Sears, Roebuck & Co.
July
Shell Oil Co. ....
Corn, No. 2, yellow
Baint Reg. Paper
234
“ONKA“
Spol
124-123
Alden Ing. AGY, Allied Chemicals Allied Mills Inc.
$ 1014 | Skuolate Dil
Bocory Mobili
September
12211
duo 10th Sept.
sails 10th Sept.
December
Solar Aircraft
Allis Chalmers
33th South Puerto Rico Sugar
March
1291%
May
America Alrime Am. Brake Shoe
176
Southom Co. (The)
July
13312
474k
Southern National Gas
Am., Cable_de Radja' Corp.
414 Bouthern Railway (Com)
Ity
September
12014
American Cyanamide Co. Am. & Forn. Power
40%
Standard Brands”.
4015
1434
Standard Oll of Cai
Decembar
34
Standard Öl of Ind.
Dats
37
Standard Oil of NJ,
September
"EASTERN" load
2110
Stoep Flock (Toronto Exge
December
50
Sterling Drug Ca
Soybeans, No. 2, yellow
2032
Stokely-Van Camp
10
Bpot
1732
Bhklebaker-Packard Corp.
September
70% Sunshine Mining...
November
53 Bwitt & Co.
January
53
Tax Co.
074/
March
10
Textron Inte......
May
Tide Waing Assn. Oil
Darter,
12h Timo Inc.
126-183
EASTERN & AUSTRALIAN S.S. CO., LTD. "ARAFURA"dae
4th Sept.
th Sept. Balls 10th Sept." for Labran, Sandakan. Rabard, Brisbane, Byd- ney, Медре Adelaide
All vessels have liberty to call at any ports on or off the costa & the route de mailings are subject to change or amendment with or without notice,
10
$13.20
If you wish to deposit your capital in the security
of the Bank, write today for a copy of our "Bank Deposit Account" Booklet. This will explain how sums of £100 to £250,000 earn a consistent 6% interest without deduction of United Kingdom Income Tax in assured security with Lombard Banking." Group Assets exceed £15,000,000, Interest paid half United Kingdom
6%
Tax. without doduction of
Send today for your copy of "Bank Deposit Account" Booklet No. A0.14 to General Manager
LOMBARD BANKING
LIMITED BANKERS
LOMBARD HOU
CURZON STREET, PARK LANK, LONDON, W1
GRO EUR (30 Up)
Branches and Agenta ¡Arongkänt the World
New York Foreign
Exchange
Now York, Aug. 29. Closing rates were; Canada
1654
Onthers unchanged./ The freq market rate of the Japantoo 'yen to the US dollar, as qualed by Pick's World Cur rency report: 417.50-United Press,
London Foreign Exchange
London, Aug. 20.
Closing raten werd! New York
Montreal Amsterdam Fin Frankfurt MILAD Oslo atockholm
Zurich
2.7812-27072 2015-2.04] 10.092-10.051 13033 5-150.4115 11.0713-11,07
10.00-19.00TL
14.30-14.491
73-23-72.23 -17.15-12.105%
Query higach-United .PTORS,
Am. Gai & Electric Am. Machi, & 7'dry. American, Metal, ...
American Smelting Am. Suzer Ref American Tel & Tel American Tob. "B" Anscendo Copper Armoo Steel Artogur
Alles Cona. Minog
| Baldwin-Limm-11am.
Elailletore
file Benedicts! Finance Bendix Aviation Corp, Benguet Cons, Bothohem Steel Boeing Alsplante Borden (The). Co, Burroughs Add aching Campbell Roup Co. Canadian Pacino R
| Case (J. 7.) Co.
Cat, Tractor
__Curs T.nancial Corp. Chrysler Kotaro .................. CUMAX_Molybdenum Turli PasDOCT Colgate Palmoliva Co.
B1: Twenty Century Fest Film
Union Carbide
523) | Union Packie Hallway
|34| United Wirecall
44 Unted tiss Corp.
40 Urdon Oil of Că,
Sark | ÚS. Gypsum
391|| 0.8. Line Co. 31% 18. Hubber 10) | V.9. Bendling
14%
WHETHer Bros.
41% | Westinghouse Blectric
102) | Wörtern Union Tel Co.
Wan Va. Pulp & Paper BUZ | “FootWorth
Spot
New York Bour
200 b, sack
-United Press.
NAMESAKES
Answers-- Actress, 2' Pro- ducer, 3 Neopolitan, 4 Shooting,
6 Ilaly, 0 Magazines. 7 Model- ng, 8 Sorento, Rome, .10 Miller, 11 Attraction.
Sophia Loren,
from Australig
For full particulars apply to a MACKINNON. MACKENZIE & CO. OF HONG KONG LID. Telephone Nos: 27771-4.
*
*