Page
THE CHINA MAIL, FRIDAY, SEPTEMBER 20, 1957.
TRADE and COMMERCE SECTION
Parë 5
CEMENTS CONTINUE TO DROP COTTON FUTURES
HONGKONG STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong 'Stock Exchange
morning amounted to appro- ximately $175,000. Noon quota- lons and the morning's trans- actiona:
Shares Buyers Sellers
INSURANCES
Union
SHIPPING
Wheelock.
DOCKS, ETC.
K. Whart..
Dock
Sales
20 DO
7.03 1,70
Pvident (0) 1130
J
LAND, ETC.
HK Hotel..
HK Land
87ཏྤ
074 21.126
Stock Market Passes Very Dull Week
By A SPECIAL CORRESPONDENT.
Coments continued their downward spiral again this week losing $1.40 to close yesterday on the Hongkong Stock Exchange at $28.60.
The slump in Cement shares has been gradual since their loss of $2 last week. Their decline is expected to continue as long as the Chinese cut-throat and Japanese maintain their cement war in the Colony.
The market itself has been stagnant and very dull this weck-most likely reflecting the oltitude of the world market. 2000 344 Turnover for the week was only $2.5 million, with the tally of two higher, ien unchanged and 12 lower.
15
Humphrey
16.30
1.475 1.06
100 0 1.30
24.30
RUDBEN
Amalg. Trust
100
UTILITIES From Atar Forty. Yaumati..
104 200 100 C. Light (0) 18.20 18.00 *(R.) 12.40
5000 à 19.00 Electric ....
2020 500 20 Telephone
STORES, ENG.
- 3t._|
was
Last week's turnover $2.3 million and the tally was the same as this week's.
The hardest hit section this week was the uilllules Lights, Electrics and Telephones were all down. Lights had fractional losses during the week on wide 15 selling and buying. Their not loss was-ten-cents with a final quote of $18.70.
21 230
000 cou
1.30
27.30
15.00 4810
Watson... 12.30 12 000 12.30
COTTONS
TERENTS
HK & FE
Invest.
1.80
London Foreign. Exchange
London, Sept. 19. Closing roles were: New York
2.764-2.78 5/10 Montreal
2.47%-2.073 10.6012-10.61 Anutardara Brussel Copenhagen
Onlo Paris Vianne
139.58-130.60
19.331-1034
19.0234-10.931 1174-117434 72.30-71.34 -Unlied Presa
New York Foreign
Exchange
New York, Sept. 1D. Closing rates were: Canadia
'England official
30-40
+
90-days
Argentina
1.04 VIZ
England unofficial
The free Japanese you to a dollar was: 4.21.-United Press.
Exchange
Rates
Profit-Taking
Electrics had a decline of 40 cents while Telephones dropped 30 cents.
Youmala tacked on
WORLD RUBBER MARKETS
New York, Sept. 19.
closed Rex rubber fatures
unchanged to ten points lower with sales of 128 contracts.
Nov.
Jan.
Mur.
May
July
Sept.
20.00
29.01 29.95
IK Bank Lombard
Union
Wheelock HK Wharf
HK Docks
Provident
HK Hotels
ON DEFENSIVE
New York, Sept. 19.
Cotton futures today opened lower and remained on the defensive through the rest of a quiet trading session.
Realising on technical con- | Spot alderations, following a pre Dee. vlous five-day rise, and scat- Mari tered hodge selling kopi a Mav routine Irade demand over- July supplied,
Doc. Mar
34.18
the In a quiet
Hist close
NEW ORLEANS fnlshed net unchanged to off Prices of cotton futures closed five points. The market open- today na follows:
* The Share Market At A Glance ★
Up or
Aug 22 890
Aur 29
Sept. 3
Hept. 12
B80
870
805
35л
34341
34
34
Sept. 19 805
3431n
Down
ricady
steady
£0
ерь
Bob
90
90b
steady
7.80
7.80
7.86m
7.85
7.75
-100
117b
124mm
1221
122
1224
steady
48/b
49b
5914+
82
-$1.50
11.80
12.20
12.10
12
12m
steady
15.40
15.40
15.40
19.20
14.05m
-250
IK Lands
304
3875
3014
301⁄41⁄4
344xd
-300
IIK Realty
14
144
1
134
-1.350xd steady
HH Trams
23.80
24
23.40xd
23,30
23.30
steady
Star Ferry
131and
.191
133A
134.
151a
ed off four to nine points. New pot
Oct. Orleans closed unchanged to Dec.
Yaumatis
100m
1051⁄2m
100
102
103
+$1
off three points.
MAY
Ch Lights
18.50
Electrics
20.50
18.70m 20,30xd
IK Telephone
27.00
27.70
G.I. Gement
322
3214
Iniry Farm
15.70
18,00
18.80 29 27.80 3% 15.70
18.50
18.70
-100
28.80
28.40
-100
Tradera found little in the nows to Influence prices either Oct
May
July
27.80
27.50
---300
30
28.60
-$1.40
15.60
13,60
steady
AuS, Watson
12.50
12.55m
13.600
12.00
12,40
-200
way. Dullness in the toxille Dee. market and the slow rate of impounding under the lean
6.60%
0.55
G.COM
6.50
6.453
-15c
4.25
4.25%
4.35
4.20b
4.10b
HEFE Inv
100
10.20
10,20.
0.800
9.80b
steady
Texule Corp Nanyang
4.30
4.475
4.525
4.475
4.50%
+240
9,45b
0.80
9.80m
9.800
9.80n
steady
Yangtze
Allied
Selling Flurry
-33
-100
GILT-EDGES
Pares A Billion FALL BADLY
From NY Values
New York, Sept. 19. Another routine in irregular session on the stock market was climaxed by a selling flurry that pared a little more than a billion dollars from market values today.
Chemical shares. metals, Goodziek (3). .) Co.
Goodyear Tyre steels sulphurs,
and Talls
Guir Oil softened while tobacco stocksleyden Newport Corp. 29 80 ZOBU countered strongly and autos 2013 held firm.
Standard contract closed un- changed to ten points lower with no sales reported,
Bept.
again Nov.
Jan. Mar.
May July Sept.
Uncertainties
2015 In the persistent absence of
20 95
09
B
1391
1431
Homestake Mining Ca. Ingersoll-Rand
3571
B31
Inland Sterl Co.
7812
Interchemical Corp.....
2003 anything to sway market sentint Businers Machines
„Int'l Harvestor 20ment strongly, trading continued ["raternational Nickel
International Paper by at a slow paca-1,520,000 shares a Tei & Tal generated the boost in the British bank compared with
caution
Wednesday's
of $1 for the week and theke Interim dividend of $2.50 was the same as last year's.
Profit-taking on Docke sent them down $1,50 for the week. They seem to be easing дом after reaching their year's high rate infected an extru note of 1,640,000.
in the terminal Individual features reacted to two weeks ago,
market today. Dealer in-corporate Announcements and
operated on both sides special news items. of the market awaiting further developments in the London and Far Eastern markets.
factory Meanwhile, domestic
other coustumer. Interest and continued on the slow elde, Spot No. 1 Frg held at 30 cents, nominal.
Lands have become soft after
being quoted on the market at their ex-dividend price. They lost 30 cents, closing at $54.75.
Dairy Farm
announced this moming an interim dividena of 55 cents compared with last year's interim of 52% cents.
Market Diary
market diary
tcreat
LONDON
The rubber market Wo of hesitant with spet quoted at
24 pence per lb. Prices:
No. 1
Continued to be
Sulphurs reacted to price cuts in the industry, with Freeport down more than six, Jefferson Lake off over $2.
Good Earnings
Ray Medormott
John-Manville Co. Kaiser Industry .... Kansas C. Power & Light Kentcott Copper Liggett Meyers Tob. Cn. Lockheed Aircraft
Laws Incorp. Lose Biar Cement Co. Lowenstein & Sons McDonnell Aircraft
Stock Expe
Mexati from Corp. Minnesota Mining Minion Development Monsanto Chemical Co. Montgomery Ward Motorele The. National Carl Reg. National Dairy Prod. National Lead
National Steel Corp.
New York Central
Norfolk & Western Ry. Olla Mahleron Quis Elevators Owen-linois Glass
Tobaccos met demand on in- creased cigarette consumption and the outlook for good earn- ings.
Chemicals had losses ranging to 1 points. Qu losses ran around a point to 1% points. Chrysler and General Motors
Oxford Paper ...... Improved fractionally while Pacific Gas & Elec. Ford dipped in the motors. Pais Ainceican Airways
Paramount Pictures Baltimore Ohio paced the C Parke Davis Co. ctine in rails with a drop of 14. Penny J. C Co
The Dow Jones averages: In- dustrials 470.12, of 2.40; rails 130.82, of 1.94; utics 68.16, up .04; 65 stocks 163.18, off .86. Of 1,083 issues traded, 260 Amsterdam were higher. 570 lower, 255 un- Very quiet. T/O: rubber prices were unavailable, changed. There were 13 now $516,000.
2.70 5/10
2.78 1/10
2.74 6/10
Here is a
.0230
the week:
2.54-2.60
Friday:
2416-24
Settlement huise term:
stoudy. T/O: $481,000.
Oct.
241%-247
ΝΟΥ.
Dec.
251-25
Monday:
Steady undertone.
Jan/Mar.
231-201
Apr/June
247-261-
Basineb was close ba unofficial oxchange market inoming at the following rates:- U.S. dollar per 32) Sterling notes (per 21;
Die tocal Mis
5.PL
15.03
T/O: $448,000. Tuesday: Fractional declines.
T/O: $091,000. Wednesday: Light scale trading.
T/O: $355,000.
July/Scot.
2014-202
General markets, elf hauls, porte
Sept.
Oct.
Nov.
2440
25-2-25 25-28
thin Oct.
Estate repe
་
thick Det.
Australian notes, iper 2}}..
Indonesian rupiah per 100).. Slam Lical (per 100 Singapore (Strat)
$730
1250Thursday:
Singapore
1.01
MONEY
and
in RUTILE MINING
Dividends of up to
100%
have been paid from shares in the BEACH MINING INDUSTRY IN AUSTRALIA
RUTILE IS USED IN THE MANUFACTURE OF JET PLANES
For Information on
A GROUND FLOOR OPPORTUNITY
for investment in a new Company at par -
Wifos Almall to ----
RUTILE UNDERWRITING COY,
Box 5350 G.P.0, SYDNEY, AUSTRALIA
-United Press.
highs, 67 new lows.
NY Stock Exchange
volume was $3,640,000.
Pena. Bait Co. Philip MorT Procter & Gamble Co. Pittarih Plate Glam Publicker Industries Pure Oil** Radio Corporallen Republic Steel
Reynolds Melp!
Sen, Roebuck & Co.
Shell Ou Co.....
bonth
Saint Reg "Paper Sinclair On
Socony Bobiloli
American Stock Exchange Solar Aircraft....
volume was 610,000 shares,
Closing Prices
Alden Ine. Acf.
Allied Chemicala
Ailled Alls Inc.
Allis Chalmet Americon Airline American Cyamenido Co. Am. Froke Show
Am. Cable, &c Radio Corp.
Am. Foreign Power
Am. Gan & Electric
Am Mach. & F'úry, American Metal American Smelting Am. Sugar Ref. American Tel & Tel American Tob. "B" Anaconda Copper Armen Steel
Armour
| Allas Cona, Mining
Baldwin-latma-Luxo,
| Baltimore &
Ohio
| Beneficial Finance
Bendix Aviation Corp. Benguet Cons
Dalam tel
Boeing Airplane Borden (The) Co.
Burrougbe Add Machine
| Campbell Soup, Co. Canadian Farise I
Case (J. 2.) ca. Col. Teoctor
Celanese Corp,
Chase, Scandal, Bank Chrysler Matora Climax Molybdenum Ciuet Peabody. Colgate-Palmolive
Colombia Carbon Co Commercial Credit Commonwealth Elec, Consisted Ecua Continental" Oll of Dol, Crown Zallarbach
Mateix |Douglas Aircraft
Dilboat da. Namoura Farben Airlin
2 Pass_Nithymal Cran Family Finance Corp.
Ford Motor
getire boda General Motor Gen Pub. UBL
Cesty Oli Quidden Co.
17
ON NEWS OF
BANK RATE
-London, Sept. 19.
The biggest move to defend
the pound was made to day, by the announce ment from the Bank of England of a rise to two per cent to seven per cent In bank rate,
Dealings in gilt-edged securi- tles were paralysed, and it look a full ten minutes before the first prices were marked. War Loan closed the day 4-3/10 ail down at £01-10-0, a new time low. Consola 2 per cent! fell 2-15/16 to £45 and the 4 per cent 3% to £08. Others were all marked down sharply. Oll shares moved wildly and closed weak with British Petro- leum 7/9 lower at 121/8. Shell 27% fell 7/41⁄2 to 185/5
and Burmahs 5/10% to 95/72-
WIDESPREAD
10%
(Am.
Bouth Puerto Rico Bug Ba Southers Ca.... Southern National Cas Southern Railway (Con) Standard Brands
Standard Oil of Cal
Standard Oll of Ind
Standard Oil of NJ,
Steep Rock (Toronto EgS. Sterling Drug Da
Stokely Van CAMP, Studebaker-Packard Corp.
4 Suntzino Mining
146 Texas Ca
34
Tide Water. Assa. Oll an. Ictheo Ins.
170
Time Ine.
Twenty Century Fox Flim Union Carbide
Union Oil of Cal
2434 | Union Pacific Nailway
815 |Unlled Aircraft
,cola Valled, des Corp.
13% US. Toll "B"
22.8. Gype
3
08 1 Co.
49 Rubber
183%
US Smelting
UN. Steel
UB. Steel 7 pl. pl.
Wamer Bros.
Westtoghouse Electric Wertem Union Tel. Co. West Va. Pulp & Paper Woolworth
1091.
GOV
450
3414
In the industrial section losses were widespread and severe in some cases. Rolls-Royce was marked down 7/0 to 103/1 - 34 and Unilever 5/0 lower at 87/9. Vickers fell 2/3 to 33/3. In
40 stores Gussies eased 3/10% to 46/-, while other store shares were down around two to three 41x shillings.
LIVERPOOL
closings,
in
programme
Colton future
along with large pence per 1b. were as follows:
crop prospects, rally interest bid contrapt
on cliber side of the market.
Techalcluns reminded that after the five-day rise, the market showed I cumulativo recovery of 2.03 to 3.35 a bale from the levels existing when the Government's unexpectedly large
estimate crop
was published on Sept. 9.
Evening-up operations coll- tinued in the October delivery,
October/November
December/January March/April Mny/June July/August
New contract
October/November December/January March/April MAY/JUDO July/August
SAO PAULO Cotton future closings, in cruzeiros per kilo were as fol-
anticipating first notice Sept. 24. Loan
diny
lows:
Ool.
through bales
Dee.
for.
Atay
July
Impoundings
Sept. 13 totalled 84,500 compared with 331,780 bales to the same last year.
NEW YORK
Prices of cotton futures closed today as follows:
*
*
*
*
*
39.20
In the United States, the average price of one-inchi cot- ten at 14 designated spot
markets was 33.18 cents.
Total sales were 21,371 boles.
inted Press.
P.OBI EA
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
"CARTHAGE"
*
Outwards "CORFU
"OHUBAN"
"CANTON"
*
*
*
*
Leaves London Salled / Sailed 1/9
1st Deoba
10th October
Due Hongkong
22nd September
20th October
30th October
18th November
Via Southampton, Colombo, Penang à Singapore,
Leaven Hongking Dus London
Homewards "CORFU"
"CARTHAGE"
"CHUSAN"
20th September 24th October
3rd November
22nd November
"CANTON"
2711 Остови 24th November 30th November
23rd December
Via Singapore, Penang, Dulombo, Bemk-ỵ & dden.
FREIGHT SERVICE
34
Do
57
In the foreign bonds section German closed around ano point lower and Japanese one
"SUBAT" due 27th Sept.
"SOUDAN" loads 2nd Oct. salts 3rd OOL
13%
31
*
+
"SINLLONG"don 21st Nov.
01
2734
to three points lower,
In the foreign exchange market the swinging increase was taken as a symbol of the Governunt'a determination to maintain the pound sterling.
Some gambles who had been selling sterling short rushed to cover their scales, and their buying lifted the pound in some continental centres to the high- est level for months. Unfied Press.
New York Sugar Market
New York, Sept. 19.
World No. 4 sugar futuros closed today two points lower to one point higher with sales of 239 com- tracts.
Domestic No. 6 sugar futures
closed unchanged to one polat tower with
contracts.
sales of 40
Evening-up operations in the nearby October delivery 20reatured a generally quiet trado, In the world raw market, 37 trade sources understood. Cubaji 40% operators have been negotiating -United Pres.
with the Cuban zugar Instituto for a large block of new crop
tons. Graders believed a pu chaso of that size would be for the lending United Kingdom sugar reßner,
Contract No. 4 (world) October January March May
New York Metal gr-postbly up to 200,000
follows:
Futures
Now York, Sept. 18. Prices of metal futures closed today in certs per ib. *B
13.805
unquated
1,00z
23.00
Land Bapt.
Zine
Copper Sept.
Tin
traised rem
NAMESAKES
Arawers Entertains, Compares 1 Broadcasts, Radio, Laugh, 0 Funny,
Tod Ray.
July Regispinber
October
spolefcents per 1b," "fob
"Cuba]
from UK
For Adon, Fort Sald, Alexandria, Genos, Marseilles. Casablanca. London, Itaminary, Hot- Tersia & AUSWYRD.
Irum UK.
BRITISH INDIA S.N. CO., LTD.
1858 — A HUNDRED YEARS OF SERVICE — 1050
"BANGOLA” dua 22nd Sept.
#
*
"OLINDA"
+
*
་
*
**
*
+
sane, 24th Best
dus 25th Sept. alla 29th Sept
“SANGOLA” due 15th Oct.
sakis 1th Oct,
from Calcutta, Rangoon d Straite Los Japan
from Japen for Singapore.
Hangcon, Cricut E
Chittagon
from Japan
for Singapore, Penang. Rangoon & Calcutta
P. & 0./B. I. JOINT SERVICE
"IKAUNA"
LA Port
FADE 2011 Sept.
+
da Ocl.
“UNIARIA”
10
th Oct.
"TTRIA"
dus 10th Oct. sails 12th Oct
"OZARBA" due Lat Nov. sila rd Nov.
from Japa
for Singapore, Bomber, Karachi, Dubai, Desraz, Khorramababe di Kuwai
Prema Karachi, Cochin, Colombo & Bratty for Japan
from Japan
for Singapore. Penang. Port Swettenham, Madros de Kakinada.
From Karachi, Bombay, Cochin & Slingapore for spen
EASTERN & AUSTRALJAN 5.5. CO., LTD.
"NELLORE" das #14 Oct.
"ARAFURA" loads 3/4th Oct.
salis 5th Ock
from Australia
for (Labuan, Bandakan, Rabaul mabenk, YG-
asbourne Adelaide
All vessels have liberty de vil så any ports on
3.30
4.10
or of the ronds a the nesto de seither'ara stājosë to chango ar amandmania math or without notion.
3.90
3.03
Open interest: 1,0243 contest
Contract No, € (domestic) November
March My
Jus
September November
Apot-(cents per lo cil" WY
ex-duty
Open lateret:
Unkind Prom
3888888 9 572888
$5.70.
Für fut portiralar, app! N
MACKINNON MALKENZIE & GA
AT HANG KUNG LED. Tetegboge Nas RAM 1