THE CHINA MAIL,
FRIDAY, SEPTEMBER 27, 1957.
TRADE and COMMERCE SECTION
MARKET RECOVERS FROM BANK SHOCK
HONGKONG STOCK
EXCHANGE
Our Own Correspondent
Business done on the long-
kong
Stock Exchange
To
Stocks Climb
Back Steady Ground
By A SPECIAL CORRESPONDENT
morning amounted to approx After the initial shock of the two per cent increase
mately $714,000.
this
Noon quota-
tions and the morning's transac
tion:
Shares
Inyers Seller
Salts
DANKS
JDC Bank .. BSU
INSURANCES
Union
SHIFTING
Wheelock.
DO
7.70
3500 7.73
DOCKS, ETC
K. Whart..
Dock
1
52 53 3000
03
vident (0) 31.50
...)
300
11,70
ᏗᏓ 1.00
LAND, HTC. JUK Hotel HK Land
Humphreys
RUNNER
14.00
344 3414
300 10.10
تخدام 1873 .....
UTILITIES,
12:
500 34 3000 34
500 G 3414 500 A 10
in bank rates in London, the Hongkong Stock Market slowly recovered and closed yesterday on a brighter note,
When it was learnt yesterday that Hongkong's three big banks were not raising their interest rates as much as anticipated, the market revived under the leadership of utilities.
unchanged
$2.6 million. Tally WDS The majority of stocks were of depressed when news of the in-three higher, nine
with reached and 12 lower, compared bank creased
two higher, ten unchanged and Hongkong last Friday, but by
the close yesterday the majority 12 lower the previous week. of shares were climbing back from their is for the week.
Worst Days
one of its
One
The
Unpopular
Jack of
has thing that
been for dragging the market down
Provident some weeks now is The market had Amalg. 1.52) 157 35000 e 15 worst days of the year on Mon- and China Light rights. Today day. It was so quiet that by is the last day for their quota-
$17,000
Di tion.. worth noon only
fash transacted.
ready business had been
has shown recent years were very uncertain it 200 2323 Investora
over what was going to happen that stockholders in most cases welcome the Issuc of 10 the Hongkong bank rates for never overdrafts. But after lunch the rights. 1014 or 18.80 noce quickened slightly and by 246 6.0 the day's and the turnover was 20112.70 $130,000,
Star Ferry. Yuumati
3.10 23.EU
330 ( 23 123.13
-133
100 103)
Light (5) 1850 1850
..(R22.50
Mectric ....
20 2820 Telephone 27.40 27,00
INDUSTRIALS
500 1.72
138 ( 12.00
on
The enly steek on the market that seemed to ignore all the fuss over the bank rate was Dairy Farm, which gained
cents on the week.
Still Falling
30
473 12.70 Although Tuesday the 6300 20 20
550 6 27.30 atmosphere was still uncertain, 500 275 investors had got over their initial surprise resulting in the the Cement .... 20 2015 1000 a 20.30 market taking a turn for
clay
Tele- better. Turnover for the
In the utility section, lokh Short of was one
one phones and Electrics continued to fall on the market. They 500 e 15.90 million.
The turnover for the whole both lost 50 cents each for the week was $2.35 lllion
com-week, closing at $27 and $27.99 pared with last week's turnover respectively,
STORES, ETC,
Dairy
18.00
Wathon
19.50 12.00
COTTONS Mayang
0.76
100 10
COTTON FUTURES
STAGE
SMART
RALLY
IN NY
New York, Sept. 26.
Cotton futures today staged a smart rally in the final minutes of trading to end an otherwise slow session.
h:
Covering
the October | dellvery through spot brokers and New Orlow interests dis- closed a scarcity of ensitraels at the finish.
Fion! prices were the day's best and net nine to 25 points aver the previous close. The mucket opened up to off ene point
New Orleans closed 11 points higher,
and mili Interests Бро account bought October through the 34-cent line, highest price for the spot month in a week. Buying developed in face of the continued absence of delivery notices.
CROP NEWS
were re-
July
October December Mareli
NEW ORLEANS
cotton of closed today as follows:
Prices
Spot
October December March MAY July October December March
LIVERPOOL
Trams which have been steady for some time los 30 cents on the week closing on a quote of $23 yesterday.
|
Lands also took a nasty drop of 75 cents with a price of $34, wille Wheelocks lost ten cents to close at $7.65.
Friday:
Market Diary
Monday:
Tuesday!
★ The Share Market At A
HIK Bank Lombard
Union
Wheelock
HK Wharf
· HK Dockn
Provident
31b
53%
Glance ★
Up or
АДЕ 20
Sept. 5
880
870
Sept. 12 BUS
Sept. 18
Sept. 20
Down
805
855
-$10
344
3434b
2440
341⁄4n
steady
90b
9016
00
906
90
steady
7.80
7.85tn
7.85
7.75
7.65
-100
126m
122b
122
1220
122.
steady
ub
554
W
526
steady
12.20
12.10
12
12m
UK Hotels
15.40
15.40
18.20
14.95m
11.26m 14.60
-250
HK Lende
3034
7814
3812
34xd
34
180 -200
HK Realty
14
14
1.65mxd
1.35m
steady
HK Trams
24
21.10xd
21.30
25.30
23
-300
Star Ferry
181
4339
134
13In
133A
+$2
Vaumatis
105
Ch Lighta
Electrica
KK Telephone
18.70m 29.20x1 21.70
G.L Cement
3234
12.65m
100
15.80 29 27.86 3td 15.70 12.00m
102
103
102
-31
18.80.
38.70
18.70
28.80
28.40
27.00
-560
27.80
27.50
27
-500
30
28.00
28.30.
-100
15.60.
16.00
15.00
12.00
12.40
12.10
+300 steady
4.55%
6.60%
0.60%
0.451
0.450
steady
4.25
4.15
4.201
4.105
4.20n
+100
10.20%
10.20
9.10b
9.80b
9,800
Blondy
4.475
4.525
4.478
4.50%
4.45m
9.80
9.80m
9.80n
9.80m
0.75€
50
Dairy Farin
A.S. Watson
Yangleza Affled
HK & FE Inv Textile Corp Nanyanr
LONDON HAS
RAGGED DAY
15.60
London, Sept. 26. Markets had a ragged day, largely due to the con- tinued weakness in New York with the Dow-Jones of Industrial average shares down to 456.95, only 2.13 points above ita 1957 low of 454.82. British Governments suffered a 154 of selling which lowered War Loan 20/- to
steady
WALL STREET
STOCKS HIT RESISTANCE
By DOROTHEA BROOKS
New York, Sept. 26.
Stocks showed persistent resistance each time they approached the year's lows in the industrial everage in an up-and-down session which ended in a small advance today.
1957 low
John-Majville Co.
Kannacoli Copper.
However small, the gain was International Nickel
international Paper a significant one for the experts Int'l Tei Tel. who when the market met sup- port after breaking through the at the height of the sell-off, predicted Wednesday the selling had run its course, at least temporarily. £63-this year's low way £00, Old Con- sols lust 10/-. The Hallway Nationalisation stock, lost 15/-,
Turnover WDB small 9,486 bargains recorded,
NEGLECTED
at
Kansas C. Pawer & Light Liggen Meyers Tob, Co. Lockheed Aivorati Loews Incorp. ..... Lone Star Cement Co Lowenstein & Son McDarmeli Adrecati. (Am
Stock Exgo.) cubi Iron Corp: Minnesota Missing Mlaston Development
The 1st.opened higher on a rush of carry-over buying from the late rally of the previous session; did a turnabout when demand was irregular in kecp-31onsanto Chemical Co. Ing the rice going, coming with- In a shade of the yeare lows and Anally turned up to erase most declines.
Net Gain
The not gain in the industrial average amounted to 06 point at 457.01: rails 22 at 122.87; illes .12 at 60.73 and for the
Montgomery Ward Motoraia Zuc
National Cass Beg. "A"
Nation Dairy Prod. National Land National Steel Corp. New York Centeni Norfolk & Western Ry, pus lavator Olin Melbinsort
wen-linols Clas Oxford Paper Co.. Pecic Gas & Elec.
Imperial Chemicals, though it reported a comfortable rise in gress and net earnings, was conspicuously neglected, rising slows less than 6 pence, Other Indus- T/O: trials were idle though there
was some activity in "engineer- 05 stocks .19 at 156.44. In- ing and electrical shares, and dividually, extreme changes lo Parke Davis Co. Quiet comitions. the early losses shown in TO: $130,000.
Business down.
$208,000.
Pan American AirwayN Paramount Pictures
about a Penny J. C. c. most groups ranged
Penn Salt Co. motors and aircrafts were re-point cllher side of the previously Morris
Co. with a
moving Procter & Gamble Trend rather un-duced to a few pence.
fow speciola more widely.
Pittsburgh Plate Glass Pubicker Industries Trading slipped to a 2,130,000 Pure Oil***** share total from 2,770,000 shores Radio Corporation on Wednesday.
eertain.
T/O:
$900,000.
Wednesday: No inaterial change.
T/O: $379,000.
33. 32.00 31.12
Thursday:
futures
ខ្លះៗជ
Oils were mixed with small gains and losses; Shell Trans- port was by far 1/8.
Germans were idle. Polash '7 per cent
1 non-assented lost sterling: Tokyo 5%1⁄2 per cent on Prices harden Japanese 1st improved 4. Pre- somewhat. T/0: | infum for dollar slocks was 11- $885,000,
per cent.-United Press.
WORLD RUBBER
MARKETS
New York, Sept. 26. mills and lower grades almost
Colton future closings, in Rex rubber futures today neglected. pence per lb, were as follows: Did contract Oct/Nov.
Dec./Jan. Mar/Apr. May/June
New crop months latively neglected while traders New contract Oct/Nov. awaited crop news. Widespread week delayed rains the past progress and lowered qualities, a leading spot irm reported. Weather conditons in the next 30 days will be of paramount importance for the acreage re- maining for harvest.
November
Beplanber
January
March
May
20.65 29.50-58 No. 3 rubber per b. Oct.
Standard contracts
to 47 points higher with
2.15
23.00
closed 30 to 61 points higher with sales of
Futures:
05
contracts.
No. 1 robber per u
Oct.
HuB41/4
DA ST
Nav.
044-65
25.70
No. 2 rubber per tb. Det,
uzys
28.10
132-82%
Dec./Jan.
20.41
29.55
Mar/Apr.
20.38
No. 4 rubber per 1,, Det.
Spot rubber unbatea
7016-0034
MAT/June
29.58
Blanket crepe
July/Aug.
July
20.58
No. pale crepe
0115-04 77-79 0316-9415
September
AU.GH
SAO. PAULO
closed 20
LONDON
future closings,
11
sales reported.
per kilo
were
DS
September
24.05
November
29.54
20.58
20.69
30.00
27.00
MAY
30.00
July
20,55
No. Xapot*.** 20.50 Settlement house term:
2476-2512
the
survey.
May
30.30
Beptember
July
3.40
Firmness reflected the higher foreign markets and buying cre-
Nov, Dec.
ISIL-12 299-23%
Jon/Mar. ADT/JUDO
In
the United States,
233-2014 2016-20
against
salen to
Oct Nov,
Dee.
2435-2436 241-25 23-1514
TAL
Some deterioration was noted in the central and eastern belt sections. However, good condi- tions were' maintained in west and far west, the noted,
Loan entries for the week ended on September 20 reached a new high for the season thus for at 50,337 boles, However, the net stock of 1057 crop colton under loan was only 121,521 boles vs 488,052 bales to the same time Last season.
Volume Oper interest
0,100. 01.300.
10.100 281,400
Month
Oct.
Dec.
Mar.
2,400
102,000
May
A
180200
July
2,000
119.000
Ost
2,00
109,700
Dec.
DO
3000
Mar.
1,200
PX730
Total
20,500
082,100 bafes
NEW YORK
Prices of cotton
closed today as follows;
Spot
Bomber
Starpta MAY
futures
Cotton cruzeiros follows!
October
December
March
January
March
20.58
The rubber market was irre- gular with spat quoted at 25 cents per lb. Prices;
traded, 508 Of 1,188 issues were higher, 389 lower, 255 changed
NY Steck Exchange bond
volume was $3,600,000
Stock Exchange American volume was 650,000 shares,
Closing Prices
Allied, Bull
Inc.
Allis Chalmers Am. Brake Sline American Airline American
Corp.
American
Cable
Cyanamid Cn.
Amer. Form, Power Am. Gat & Electric Am. Mach. & Pstry American Netal
American Smelting Am. Sugar net,
American Tel & Tel
American Tob. "E"
Anaconda Copper
Armco Steel
Armour
Allas Cona, Mining
Baldwin-Ima-Ham.
Baltimore & Ohio Beneficial Finance Bende Aviation Corp. Benguet Com... Bethlehem Stel
Boong Airplane Borden 13he) Co. Burroughs Add Machine Campbell Soup Co. Canadian Pacific B. Case (J.I.) Co.
Cat. Tractor
Delane Corp:
CIT. Financial Corp. Chang Manattan Bank 215-20% | Chrysler Molara
Amex Molybdenum
Jaky/Sept. thedited to London account here. General markets, cit basis, ports: average price of one-inch cotton reportedly
at 14 designated spot markets, Rumia and other Continental was not available. Total sales at buyers, Intra-doaler switching these markets were 32,387 bales, included exchanges of January
United Press,
for May, July and September.
In the spot market,
main interest centred on one sheets. With fair average, quality re-
London Foreign ported sales included one sheets
Exchange
London, Sept. 20. Closing rates were: ~
New York .... Montreal
Amsterduni Brune Copenhagen Frankfurt
Milan
34.654 Dila
34.14-15 Blockholm
24.11 Vie 34.49-80 | Zurich 54.65-44 QUITE WIG
out of Indonesin, Sept-Oct, at 20% cerita up to 28% cents a pound, Locally, Spot No. 1 Rss was quoted at 20 cents.
BINGAPORE
The market opened better in 276-15/16-2.78-15/10 sympathy with London fluctuated narowly during morning.
2007-2017 10.6-10.53
Estate Crepe
Thin Oct. Thick Oct.
MUnited Pres
New York Metal
Futures
New York, Sept. 26. Prices of metal futures closed cents per lb., an
end today
follows: the
Lead dept.
During the afternoon how-
ever, the market unproved 2ine Sept. further on trade buying against copper Bept. overwegs orders,
demand re- bul
They when good
Pres. for spot one sheets
is
Bapt
1100
| Gruett Peabody, ***
Colgate-Palmolive Co Columbian Carbon Co. Commercial Credit Commonwealth · Elec, Consolidated Edison Continental Oil of Del. Crown Zellerbach Cuban Amer. Sugar Damund Alkali .... Diamond Match Co. Dougins Aircraft Dow Chemicals Dupont de Nambur Eastern Airline Eastman Kodak
Radio Corp. Prel Repubile Steel Reynolds Melal Sears, Roebuck & Co.
Shell O Co....
Eaint Reg. Paper
Sinclair Ol] Socony Mobilöll
Aircraft
South Puerto Rico Sur
Southam Co. (The) Southern National Gas ..... Southern Railway
(Com.)
Standard Brands
2014
Biandard Out of Cal.
29
Standard Oil of Ind
est
Standard QB of NJ,
15
Bleep Rock (Toronto Exge.)
Erdia
Sterling Drug Co.
41
Stokely-Van_Camp.
Sudebaker-Packard Corp,..
14
Sunshine Mining
Swift Co.
El Pao National Gas
•Family Finance Corp.
Uremone. Tyre & Rubbe Fan Motor General Electric General Tubd daterni Kintore Gen. Pub. i.
Belly Dil, J. Glidden Co. Goodrich (B, F.) Co.
unquoted | Floodyear Tyre
*
5 техни Со
194 Textron Inc.
Tide Water Aam. Oil
舊
23
1081) | Twenty Century
Fox
73
Undon Carbide
614 | Union Oil of Cal.
53
Valon Paelle Hatiway
12% United Aircraft
13
United (lol Corp.
11 US, Foil "3"
43 U.S. Gypsum
18
UB. Line Co.
47 US. Ntubbor
1 US. Smelting
411 US. Steel..
304
Warner Bros.
Westinghouse Electric
(4031 | Western Union Tež, Co. West Va. Pulp de Papez Woolworth
14
United Press.
London Metal Prices
London, Sept. 25.
Prices of metals closed today In sterling per long ton
P&O DECLARE INTERIM
London," Bept. 26. The Peninsular and Oriental Steam Naviga- tion Company has de- clared an interim divi dend of three per cent, less tax, unchanged from the previous year. ---Ching Mall Special.
New York Foreign
Exchange
New York, Sept. 20. Closing rates were; Canada
England officia
unomical
" 30-days
་་
60-days
New Zealand
South Africa
Belgium
India
Pakistan
1,00-13/10 2.79%
Uniquoted
New York Sugar Market
New York, Sept. 26. World No. 4 sugar futures closed today unchanged to eight points higher with sales of 516 contracts,
The domestle No. 8 sugar futures - closed unchanged to one point lower with sales of $1 contracts,
World contracts rebounded. sharply after early irregularity responding to covering in
the October delivery and reflecting the steadiness in raws.
Havana reports indicated the Institute mel yesterday but mado no statement regarding the transfer of stocks from the world to US retained quota. Other sources believed the Institute would meet tomorrow or next Monday,
Contract No. 4 (world)
2.17-3/10 October 235-13/10 Imuary
Others unchanged.-United Press“
4.30-17
3.01-80
2,77-13/10 March
2.70
May
01001%
July
2003
Beptember
2004
October
Spot-cents per b. tob Cuba) Open interest: 3,234 contracte.
4.45
Contract No. 6 (domirstio)
November
March
July ..
6,24
зва
Spot-jeents per lb. of NY
ex-duty)
5.67
United Prem.
NAMESAKES
Answers:-1 Valley, 2 Moors,
3 Binckmore, 4 Churn, & Carver.
6 Ridd, 7 Romance, 3 Snow. Farming. 10 Exmoor.
Lorna Doone.
September November
P.O BI EA
COMPANIES.
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Leaves Londen Dae Hongkong
Outwards "CARTHAGE"
"OHUSAN”
"DUANTON"
"CORFU"
Bailed 15/9
20th October
1st October 18th October
13th November
30th October
16th November
13th December
Via Southampton, Colombo, Padeng & Singapore,
Homewards
"WARTHAGE”
HORUSAND
"CANTON"
"CORFU❞
Leaves Hongkong Due Lendon
24th October 24th Novembar 3rd November 30th November
22nd November
18th December
23rd. Decetaber 10th January
Via Singapore, Penang, Colombo, Bombay & Adan.
"SURAT"
"BOUDAN"
FREIGHT SERVICE
due 28th Sep1.
Teads 3rd Oct. sally 4th Oct.
"SHILLONG"aus Zist Nov,
from UK.
10r Aden, Port Sald, Alexandrik, Genoa, Barteles, Casablanca London, Hamburg, Rol terdain & Antwerp. from UK
BRITISH INDIA 5.N. CO., LTD,
1858 A HUNDRED YEARS OF SERVICE
"OLINDA"
dos 30th Sept. sells 1st Oct.
8th Oct. "FULTALA” dus
ails Bib Oct. "SANGOLA" doo 14th Oct. Janis 15th Oct.
1914
from Japan fox Singapore, Penang Rangoon & Calcutta
from Chittagong, Siga- pore & Manua
for Jagan
from_Japan
for Singapore, Penang, Rangoon & Caloita
P. & O./B. I, JOINT SERVICE
"UMARIA" due 3rd Oct.
salle 8th Oct.
due 11th Oct, falls 12th Oct
"ITRIA"
"OBRA"
due 2nd Oct. ane 24th Oot
"OZARDA" due Lat Nov.
satis 3rd Nov.
from Karachi, Cochin, Colombo & Straits for Ju
from Japan
far Singapore, Penang, Bori Gwettenham, Madras & Kakinada,
from Japan for... Singapore, Penang, Colombo, Karachi & Bombay
from Karachi, Bombay, Cochin & Skigapore for Japan
EASTERN & AUSTRALIAN 5.5. CO., LTD.
"NELLORE" dua 6th Oct. from Austenīša
salis Diái Oct.
03
"ANAFURA" Loads 3/4th Oct.
follows:
Buyer Sellers
5921 171
Tin apot
765
700
3-month
¥33
Copper apos
.104.
3-month ...
2011 198
Lead 2nd hott Sept.
Dec.
10
247 Zine Zad half dept.
Déc.
-tinited Press.
Exchange Rates
7014
gult of Heyden Newport Corp. 9.40b
Homeziako Hining Co. Lingyoted KEDADÍ UZTAINĂ,
Island Bet) Co. samonosed") înterpunnical
1
Dusirom was dono in the local sofficial exchange market this moraing at the following rates: V.B. dollar (per (1) Dunake 633 Sterling notes (per 21)
724
Cort.
«ifnited Press.
Australian natok (per £112 Indonesian rupiah (per 100).. Bimm tical (per 100) SUZIDOSO
2.41
Infi Marrester
for Labuno, Bandakan, Rabaul, frábme, Üyd- nay Melbourne Adelaide
All vessels (baya'liberty, in calf anƐany, ports on or of the clute à ska route de milingo nzó subject to change or amendment with or without noties.
Før jul“ particulars apply ta MACKINNON. MACKENZIE & CO. OF HONG KONG LED. Taleulane Has: 2411 A.
»