Page
< THE CHINA MAIL, FRIDAY, OCTOBER 4, 1957.
TRADE and COMMERCE SECTION
WHEELOCKS LOSE GROUND Cotton Futures
Shareholders Disappointed
With Dividend
By A SPECIAL CORRESPONDENT
Wheelocks lost ground on the Hongkong Stock Exchange this week sliding 25 one stage on announcóment of the Company's final dividend of 372 cents.
cents at
At the close yesterday, the stock recovered slightly to close at $7.45, a loss of 20 cents on the week.
HONGKONG
STOCK
EXCHANGE
Our Own Correspondent
Business done on the Hong- kong.
transactions
It
that being
stockholders were disappointed with the final dividend and were expecting more, although it is the same as last year's; and, in fact, total distribution is higher. Last year Wherlocks paid oût $3 million on four million shares, but this year they will have to pay out extra $100,000 because they have an additional 1,400,000 shares to pay on.
Displeasure
Although the share is paying stockholders ten per cent in- ferent, they still do not
satisfied.
After their downward spiral Stock Exchange this had been halted somewhat last morning mounted 10 ap-
Cements dropped proximately
$301,000. Noon week, quotations and the morning's her 50 cents. They closed on
a seller's quote of $28their lowest since 1958. Although there was evidence of holders trying to get rid of their stock, there were no buyers at the prices quoted,
With Green Island's adverse export figures to Southeast Asia, prospects are very uncer- tain.
Shares
Buyers Sellers Sales
BANKS
1 ..
Fast Asia
850 200
SHIPPING
Anin Nav...
Wheelock. 7.40
DOCKS, ETC.
K. Wharf
Dock......
Sha!
ر الله
22000 4 7.45
Jou
Dock 14
10
14.
10.10
5432 10.20
LAND, ETC. FOC,Hotal.. BK Land Humphreys
RUBKEJ
+.
After the market recovered from the bank rise Jast week. looked brighter on Fri- 108 63% things 600335 day, but the atmosphere of of
10
★ The Share Market At A Glance ★
Oct. 8 85214
Kept On Slight Upgrade
New York, Oct. 3.
Page
LONDON DEPRESSED AGAIN
London, Oct. 3.
Stock markets had a very depressed day with a turnover low at 7,136 bargains récorded.
The news of the big Royal
Spot house buying of March and May joined
covering in keeping cotton futures on a slight Dutch and Shell issues coming
upgrade today,
Closing just below the day's) best levels the list was net three to 12 points higher. Open-
December March
52.00 W2.00
NEW ORLEANS Prices of cotton futuren elosed today as follows:
Up or
HK Bank
Sept.5 870
Sept. 12
865
Sept. 19 805
Sept. 20
855
Down -$2.50
Lombard
342n
34/b
34340
343/n
M
steady
Union
80140
90
DOL
20
003n
+500
Wheelook
7.34
7.85
7.75
7.06
1.43
-20
ilk Whart
1236
122
$22.
122
128€
wendy
BK Docks
54
58
52
626
5314
+$1.50
Providerst
18.10
12
12m
11.75mm
11.30
IJK Hotels
15.0
15.20
14.93m
14.80
16.98
+100
NK Landa
3814
-2014
3444xd
B#
844
+250
HK Realty
115
1,35axd
1.850
1,40x1
+50
HK T
23.60xd
28.30
23.80
23
23.10m
+100
ing prices ruled up
1381
182
131a
183
191a
off one point. New
seven to Ortana
Yaumatis
100
102
103
103
102
leady
closed up six points.
Oh Lights
16.80
18.80
18.70
18.70
18.00
-100
29
28.80
28.40
27.90
28
+100
27.80
27.80
27.50
27
27.80
+800
32
30
28.00
28.50
28
-500
Limited hedge offerings and covering by local professionals made prices sensitive dermand.
March
May
to the
Judy
Oglober December
18.70
15.60
18.00
15.90
15.80mx
+450
in-
12.60m
12,00
18.40
12.49
12.60
+200
6.80%
6.60%
4.45T2
6.450
6.45n
steady
4.20b
4.101
4.20n
4.209
IIK & FE Inv Textile Corp Nanyang
10.20
9.80b
9.80b
0.80b
10
4.528
4.448
4.50%
4.45n
4.40m
9.80m
9.801
9.801
9.75%
9.65%
steady +200 Bo -100
Star Forry
Electrica
IIK Telophone
G.I. Cement
Dairy Farm
A.8. Watson Yangleze Allied
WORLD
RUBBER
MARKETS
New York, Oct. 3. Rex rubber futures today closed 20 to 30 points
contracts.
WALL STREET
STRENGTHENS WITH GAINS
New York, Oct. 3.
lower with sales of 63 Stocks experienced a modest reaction in early dealings then strengthened near the close to manage a small average gain on the day.
November
Јанцагу
March
May July
September November
Standard contract
30.00
2885885
3222858
20.00
closed 20
to 30 points lower with no sales reported:
November January March
Blas July
September
Novchter
The an, amounting only to Hayden Newport Corp.
the .11 point In
Dow-Jones Horacstake Mining Co.
Ingervoll-Rand general average, nevertheless inland Steel Co. was substantial when compared Interchemical Corp.
In Business Maciuties with the day's lows.
Int'l Harvester International Nickel
issues recovered as much as points from their carly levels.
29.00
20.76
39.70
20.00
41
29.03
20.85
28.00
P'vident (0) 11:70 3000 11.30 relief was replaced by one
Terminal trading was rather caution this week. Turnover
quiet and mixed with dealers, amounted to $2.34 million, com- sellers on balance in face of the London cables and the Inst lower 200 341, pared with $2.36 million
domestle continued pause in iveek.
factory buying interest
Shipincat offerings were moderate but still too high to interest local buyers. Spot No. I Hss was quoted at 20% cents AMSTERDAM
Amalz.
... 1.27!
Trust UTILITIES
Tram Youmati
222.80 23.20 1500 23
ID: 102 5410
300! 101
C. Light 10: 10.50 10.70
20 ... $7.70 10.40
Electric
Macro E....
Telephon
INDUSTRIALS
Cement ...
Hope ....!**
Amoy Can
STORES, ETC.
Day XD
Wate
Lane, C. Empórium COLTONS
Texilles
Nanyang
27.00
Good Demand Tally for the week was 11 higher, Ave
and unchanged eight lower compared with three higher, nine unchanged and 12 tower inst week.
However, the stores section, 27 27.36 3000 ir 27.2 both Dairy Forms and Watsons
up well. Dalry are standing Farms have been in good de mand, gaining another 45 cents 31116.00 this week even though they are 1200 12.70 being quoted ex-dividend. Last week, when the interest rate scare here was at a peak, Dairy 437% 4.40 2000 4.35 Farms tacked on 30 cents-the
only stock to ignore all fuss.
15.00 12.00 13.30 14
8.55
2000 6 3.73 9000 43.78
0.05
INVESTMENTS
YARKISIC
A
(1.21
01:45 15 ફ્ર 4.10
Allied
the
Watsons, which were steady 630 last week closed at $12.00 yes- terday, a gain of 20 cents on Que week.
New York Sugar Market
New York, Oct. 3. World No. 4 sugar futures two points today closed higher to 15 points lower with sales of 869 con. tracts.
.
Tel Tel "
New commission house terest, however, continued to be restrained pending the govern- ment crop report on Tuesday. Other traders were more In terested in the world perles baseball game or transferred at- tention to other commodities which bave faster paces in dealings such as wool, coffee and
сосол.
Highest Guess
Spot
October
December
March
Collon
310
34.43
$1,06
14.20
31.09
32.00
32.41
22.02
in
LIVERPOOL
future closings, pence per lb. were as follows: Old contract Oct Nov.
,
New contract Oct Nov.
Doc/Jon. Mar/Apr. May/June July/Aug.
Dec/Jan
Mar/Apr.
May/June
July/Aug.
SAO PAULO
Cotton future closings.
out next year hud paralysing effect us did also the much smaller Vickers issue which was a fallure with the Under- writers taking up £8.9 million out of the total £10 million offered to shareholders.
QUIET DAY
Gilt-edged had a quiet day and it was not until late in the day when sterling began to strengthen that prices of British
stocks
closed Government 23.40 fractionally harder. 25.77 Oils were dominated by
Dutch-Shell announce 20.01 Royal
Royal Dutch fell £1-5-0 26.42 to £18-2-6 and Shell fell some
20.23
20.49 ment.
20, 73
20.07
tho
7/- to 171/6.
Industrials were erratie but
11 was difcuit to detect any
trend with pronounced
gains
cruzeiros per kilo were as fol- und Jusses scattered impartial-
lows:
Average guess of 60 members of the New York Cotton Ex- change placed the 1957 crop at 12.884.000 bales. Highest guess was 13,500,000 and the lowest 12/215,000 bales, The Cover- nient'a Jast
was estimate 12,713,000 bales. Last season's crap was 13,310,000 bales.
Loan
ICT impoundings
the week ended Sept. 27 fatalled only 59,300 bales.
Lateness of the
crop, plus delayed harvesting and small ginning returns accounted for the limited volume of hedge expect offerings, but traders 14
southern selling to increase the to marketing activities begin 2554 NISS
hit a normal upside. A Memphis spot Arm estimated less than 50 of the crop is open per cont compared with 80 per cent last
October December
March May July
37.0)
30.00
30.10
39.50
39.10
States the
In the United average price of one-inch col- lon at 14 designated spot mar- kets was unavailable. Total sales at 13
41.630
were Press.
*
*
#
54
si
Some 2
300
3341
International Paper
133
30%
Year.
John-Manyůle Co. Kansas C. Power & Light Hennecott Copper
Month
Volume
Open intercet
*
Oci.
1,800
30,300
M
Liggett Meyer Tob. Co.
Dec.
10.000
220,700
*
Mar
1.400
194,000
May
11,000
179,000
*
30%
July
4,000
110,500
Oct
G,200
107,600
LABI
Dec.
1,700
38,000
Mar.
100
340X
Total
40,000
930,100 baks
*
NEW YORK
The early decline was sean' na reaction after B technical Iwo-session advance had re- stured more than three billon of market values.
Market Idle
much of The market idled the afternoon as Wall Street attention
agnin was diverted to Yankee stadium and world serica baseball, but with the game out of the way and the series evened, activity picked up and prices edged higher,
Issues traded. 440 Of 1,088
395 higher, 251 quiet. Prices elesed today in unchanged,
The rubber market was very were lower.
Measured by the Euilders per kilogram, eif Cel averages, industrials added 79 10 485.82. ralls 11 to 120.13, as follows:
while the utilitles
dipped 21 to 68.83.
Volume dropped to 1,590,000 shares from 1,700,000 on Wed- nesday.
New
Stock Exchange hond volume was $4,100,000
American Stock Exchange volume was 488,000 shares.
Dow Jones closing averages were:
No. 1 rubber No. 2 rubber No. 3 rubber No. I crepe
SINGAPORE
2.41 buyers 2.30 not. 2.33 nom. 2.09 nom.
The market opened lower
with sympathy
overseas but ruled steady at lower level with
decreased buyers' action од activities. Futures: No. 1 rubber per 31.
00-6576 Oct. Nuy
0592-8515 No. rubber per ib. Oct. 83-63 No. 3 rubber per ib. Oct. B7-82 20-00 No. 4 rubber per ib. Det Spot rubber unbaled
844-851 05 stocka
40 banda
In the docks section, Hong- kong Docks have been in good demand over the week. This is probably due to their announces
a plot of Blanket crepe ment of putting up
They innd for sale in Kowloon.
No, palo compe closed yesterday with sales at
LONDON $53.00, gain of $1.50 for the week
All utilities were holding well at the close yesterday reaching higher ground after their leases
last week.
Banks and Unions were Arm. Cautious
Here is an Ies House Street
77-170
03-00
York
30 iniuste-lalo
20 ralla
IS 11
The rubber market was easier with spot quoted at 25 pence. Aller Chemicals Prices:
Spot
Nettlement House Se
Nov, Dec. Jan/Mar.
Apr/June
July/Sept
Lockheed Aircraft Loowe Theatpi ka Lone Star Cement Co. Lowenstein & Sons. McDonnell Aircraft
Block Exga.) Mesabi Iron Corp. Manesota Mining Monsanto Chemical Co Montgomery Word Motorain The. National Cash Reg. "A National Dairy Prod. National Lend National Steel Corp.
New York Central on Mathieson
Oil levators.... Owen-Illinois Gloss Oxford Paper Ca Pacifle Gas & Ziec, Pan American Airways Peramount Pictures Parke Davis Co. Penny 3. C. Co. Penn, Salt Co. Phil Morris Procter & Gambie Co. Pittsburgh Pinte Class Publicker Industrica Pures bl Radio Corporation Radio Corp. Pref, Republic Steel,, Reynolds Metal Sears, Roebuck & Co. Shell 011 Co. Saint Reg. Paper Sinclair Ol
Socony Mobuoli
Solar Alterati Bouth Puerto Rico Bugar 483.42 | Southern Co. (230) 12033 Southern National Cas
Southern Railway (Com.) Standard Brande
| Standard Gil or cal
Standard Oil of Ind.
Bjandard Oll of NJ.
Sleep Rock (Toronto Exgo.) Starling Drug. Oo Stokely-Van Camp. Studebaker-Packard Corp,
Sunshine Mining
Textron ine.
Tide Water Assa, Oil
Time Inc.*********
16.3
159.20
"Bimi
Comm. future price index
354.71
Closing Prices
!... $7015
Allied Mills Inc.
201
Swift & Co.
Allis Chalmkyy
2315
Texas Cu.
243-2516
Am. Brake Shoe
47
2334-2413
American Airline
1324
244-237 23-253
Am. Cable & Radio Corp. American Cyanand Co.
Am & Fargn. Power
1375
Am. Gas & Electric
Fdry,
Union Pacific Railway
American Smetting
40
United Cas Corp.
27
US. Foll "B"
171
U.. GypsuTEE
U. S. Ling Co.
51
US Rubber
D5
US. Emelting
13
U.S. Steel
13
Westinghouse Electric
117
General market elf, basla, porta;
2491-25
Domestic No, & sugar futures closed unchanged to tive points higher with sales of 44 con- observer's account of the market: | ost, tracts.
With buyers adopting a cautious Nov. Dea Relative steariness of nearby nilitude, Stock Market cond!- Estate months in the world contract tions hava been dull and was attributed
throughout the In part to re- featureless
past week.
ports the Cuban Sugar Institute
had formally approved a 100,000 Consequently, business has been
tons transfer from the world quota curbed a sustained de- mand.
Contract No. 4. (world)
January
1.19
March
May
July
September
October
March
Spot-(cenia per lb. fob
3.7%
3.43
Cuba)
4.40 Opon interest; 4,031 evntracts,
Contract No. 6 (domestic)
November
0.40-04
Marvis
0.35
May
July
4.55
September
5.69
November
0.89
Spot-foents per
sa-duty)___
per ib. Sit NY
OpenInterest; 1,004 contracti
trnilud Prons.
Exchange Rates
Business WAN
At a very low ebb with the overall turnover only amount- Ing to $2,346,000,
show
Price movements zentrally have
been negligiblo And His change. Wheelooks lost
Free thin Oct. 27 Estate crepe thick Oct, 203
---Valted Prom
London Foreign Exchange
London, Oct. 3.
Closing rates were:
HOSTIN ground following their dividend
an-
New York Montreal Amandam
Frankfurt Dudo
nouncement and would appear cheap at current Favels. Docks and Lands have been in Milan
demand and show slight im-Buca Provencat
2,70 1/10-2.70 13/16
1700-17001
140.10-140.18
41.7235-11,73%
117034-11709%
Dairy Farms'hayo also remained | Pazid V
quito steady and in the stores okholm
Vienna Crawford Ad- Lane KROUN
Zurich
1233}}-12.34% vanced to higher levels.
Copenhagen and Lisbon un- Elsewhere there has been little charged United Press.
interest displayed and the market closed on a hesitant nolo.
Market Diary
Here is a market dlory of the wook: Friday:
Slowly recovered. T/O: $923,000, Cautious atitude. T/O: $190,000, Virtually no change. 2. T/O: $337,000.
this Tuesday:
15.42 Wednesday: Quiet
done in the local metanga Market morning út the following, rates:-- Tar dokter (per 31).
KANGTALK notes, por (21) ...
stama Load (per, 100) 22
New York Foreign Exchange
New York, Oct. 3. Closing rates were: Canada England omnial
90-day Audcaliz
jew Zealand donditions. South Africa 770: $428,000. Thursday: Remains hesitant.
T/O: $450,000.
Eragil
Am Mach. &
American Metal
Am. Sugar Ref.
American Tel & Tel American Tou.. "B" Anaconda Copper Armco Steel Armour ...
Atlas Cona. Mining Baldwin-Lima -Ham. Baltimore & Ohio Beneficial Finance
Bendix Aviation Corp.
Benguet Core...
Bethlehem Siecl
Boeing Airplane
Borden (Tue) Du,
Burrough Add Machine
Campbell Soup Co.
Canadian Pacifio
Capo (JL) Co
Cat. Tractor
Celanese Corp.
CIT. Fanaful_Corp. Chase Manhat. Bank Chrysler Motor Climar Molybdenum Cuti Peabody... Colgate-Palhallve Co. Columbien Carbon C. Commercial Credit Commonwealth sec. Consolidated Edwon Continental Oil of Dei, Crown Zelierbach Cuban Amer. Bar Diamond Alkali ........... Am Match Co. Douglas Aircraft
Dew Camnicals.... Dupont de Nanours Keling"
Cartman Kodak
...
KI Pas" National Qua
Finally Finance Corp.
1,03-1/16 | Fizestolle Tyre & Rubber
2.7726 Ford Motor j
2.74-0/10 | Denoral Electric 3.70-9/20 Denezai "Roode 3.235) Candral Motor
den. Pub,
dildan Do
2.13%
Detty oli
01901
2623
Goodrich (B. V.) Co.
.01.20
Goodyear Byte
Gult ou
Twenty Century Fox Film
Union Carbide ....
Union Ou of Cal.
United Aircraft
Western Union Tel. Co.
West Ya. Pulp & Paper Woolworth
Prices of cotton futures closed today as follows:
Boot.... October December
March
tay
October
bales.
United Press.
NAMESAKES
Answers:--1 desi, 2 George, 3 0 Rowing, 4 Boel, 3. Bummel, Adventures, 7 Locks, 8 Japes, River, 10 Harris, 11 Oars, 12 markets Films, 13 Thames.
United Jerome K. Jerome (Author of
"Three Men In A Boat").
PO B·IE.A
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Outwards "CARTHAGE"
"CHUBAN"
Leaves London Ballod 10/
Sulica 30/0
161 October
5490
34,64+45
*
"UANTON"
$4,50
"CORFU"
34.16
54.30
32.00
|CHICAGO GRAIN
MARKET
Chicago, Oct. 3. Grain futures turned irre- gular at the close of a moderately active session of the Board of Trade to day.
Futures opened irregular but turned lower at mid-morning when a private grain report became was released. Prices irregular agalu around noon,
The crop report predicted higher than expected yields in wheat, corn and soybeans,
Wheat declined
sharply around noon but short cover- Ing recovered some of the losies. New crop July and September. deliveries sci new
lows for the season.
*
跚
Que Mongkong `
2011 October
30th October
18 November
13th November
18th
December
Via Southampton, Colombo, Penang & Singapota,
Liomewards
“CARTHAGE"
"CHUSAN"
"OANTON"
"CORFU"
Leaves Hongkong Due London 24th
October 24th November 3rd November -30th November 22nd November 3rd December 10 December 10th January
Via Blagapore, Penang, Colombe, Bombay & Ades.
FREIGHT SERVICE
"BOUDAN" leads 8th Oct. Saila Bih Got.
"SHILLONG"luð zia! Boy."
#
*
*
for Aden, Puri_Sald, Alexandria, Genoa, Marsellies, Casablanc Landon, itambues. Bot ferda & Antwerp,
from UK.
BRITISH INDIA S.N. CO., LTD.
for Jagua
·
fe
1855 - A HUNDRED YEARS OF SERVICE - 1956
3th Oct. from Calagong, Singa- "FULTALA” dur
pore & 'Atarila Bitz Bil Oct.
"BANGOLA“dus 15th Oct ila 26th Oct.
"FULTALA" dus 10th Nov. at 16th Nov.
Continued good weather for harvesting brought selling in soybean contracts.
*
"ITRIA"
Export demand wux although some corn was sold to
#low
the United Kingdom und a
Halted amount of soybeans was
to off
*
To purchased by Japan.
-United Pres.
London Metal
Prices
London, Oct. 3. Prices of metals closed today sterling por long ton as follows:
La
Ta apot
+oth
Copper Boot
Smooth
Lead Jat hall det.
Wheat closed up 94
1% cents. Boybeans closed of
to cent.
Wheat No. 2, red
Брок
Dec. 21011) 21036(L) 316-4 March
*
1
Jap
for Singapore, Penang, fangvou & Calcutta
trop Japan
for Bingapore,, Penabe,
Hangaon & Calcutta
P. & D./B. I, JOINT SERVICE
dun 10th Oct.
alls 13
Oct.
"OBRA"
du 22nd Oct.
mails 28 DeL
"OZARDA" das 30th OoL
KLIN 1st Nov.
"URLANA" dar 9th Nov.
salle 20th Nov.
from Japan
for Sipgapose, Penang,
POTK
Swettent Madras Kakipoda from Japan
Pr Slogapore, Peasg Colombo, Karachi Bombay
From Karachi, Bombay, Cochin & Singapore for Japan
from Karachi, Cochin de Straite for Japan
EASTERN & AUSTRALJAN S.S. CO., LTD.
220
July
Cors, No. 2, yellow
Spot
107-19734
121n
December
Match
22717-120
1271 1319-34
wall Gti Del.
**ARAFURA" loads 3/0th Oct.
4 7th Oct.
May
July
Bogbeans, No. 2, yellow
Bye
Durers Seller
December
.unquoted unquoted
March
anjucted unquoted
Data
10194
December
2013
101%
March
B$5
Spot
7144
November
Jamiary
March
May
Darley,
SpotART
Zine at half Eki. 701%
Jan,
-Uilted Press.
New York Metal
Futures
Now York, Oct. 1. Prices of metal futures closed Juday in conta per 1b. as follows: La
Złoc
July
New York Bour
200 lb. sack
22233 m
234-39415
2351;
134-130
153.5012
United Press,
inquofag Agreed Merchant Rates
Maximum Minimum
Nor, Copper Cal
Oct,
TURSUPITA
Canadian &
Sinca New Zealand
to
1/3 20/20
Flyi
15/16 a/%
"NELLORE" In Pert
· from Australia for Japan
for Labuan, Sandakan, Rabasil, Brisbane, Byd- DAY Melbourne Adelaide
All vessela kavý liberty to gali at guy' poría în or of the fonts & the route à sužžžnja gra subjóęs. La chagen or agendment with ex without natipu.
for full particulary nonly do
MACKINNON MACKENZIE A CO. OF HONG KONG BED.