Page
TRADE
THE CHINA MAIL, FRIDAY, OCTOBER 25, 1957.
and COMMERCE SECTION
PATO A
NY BOOM: NO EFFECT ON HK
EFFECT ON HK New York Rubber New York Sugar
LONDON
STOCK
MARKET
London, Oct, 24.
Dealers marked up prices
at the start of today's
no
session but quickly lower- ed them when they no-
there ticed
Was Then came the response. shock of Courtaulds' lowered dividend and the blunt expression of the out. difficult near-term look; the famous sharos tumbled 2/9 to their 1957 low of 24/9 pence. However, there was u amount of salt buying which lifted a number by & punce or a shilling. Ford Motors gained a thing but Rolls Royce lost au Chal Blores Dount. equal were all down a shilling on persimism regarding their prob. able profits from price Inletion. WEAKNESS
Fair
The nurked weakness of ster- ling was an unsettling faclor
with British Governments which mostly fell 1/10 or 1/8.
Oil were erratic with Royal Dulch up £34 but the others dis. inclined to move at all.
Japanese hind a strong R= covery with the 1907's non- the £1% and assented
up
Stocks Have A Bad Time
|TURNOVER DOWN $1 M
|
The
Lombard
UK Bocks Provident HK Hotels
HK Lands
Up or
Market
New York, Oct. 24,
Rex rubber contraels eipsed today 6 points lower to 2 points higher with sales of 31 contracts.
Now! 29.9510; fən: 28:08; Mar: 21321) May! 28,968; July: "29950; Sept: 28155: Nov: 20 90N,
Market
New York, Oct. 24. World No. 4 sugar futurea today closed unchanged to soven points higher with sales of 310 contracts,
The domestic No sugar closed unchanged to three points когда Standard closed 5 points lower | higher with solen of 23 tu. 2 points higher with no sales tracts. reported.
Nov: 28.35; Jan: 23.20. Mar1 28.02: May: 29.05; July: 28.95; Sept. 28.95; Nov: 28.90.
The market
cline:
* The Share Market At A Glance ★
Sept 26
Oct 2
Det 10
Oct 17
11K Bank
836
B521
BUO
369.0
3212
845
32b
Oct-24 Do 840
324b
+600
Union
90
BOY
$70
Wheelock
1.05
7.43
7.50
6.80xd
6.75
IK Wharf
122s
122A
1200
120
25b
53
1314
63
636
--150 stoady steady
11.75m
11.70
11.00
11.801
11.500
100
14.80
14.90
16
14.60
14.55t
cisively
34
24/
34%
34
33.50
500
the alternate
1.230
1401
1.375
1.40%
1.3750
--3
23
28.10
23.20
23
22.70
300
13in
133.
1810
110%
Yaumatis
102
102
102
1000xd
90%
Ch Lighla
18.70
18.60
19.800
19.70
Eleckles
27.00
28
27.80
18.20 27.20
...600
HK Telephone
27.30
27.40
27
26.70 ---300
GL Cement
29.50
26
27.40*
20
25
Dairy Farm
28.90
15.80m xd
16.20
10.10
10
-100
A.B. Watson
12.40
12.50
13.20
13.10
13
-100
Yanglaze
6:45:
BASU
6.450
6.25%
steady
Allied
4.201
4204
4.151
4.15€
4.18
steady
10
HK & Inv
9.84b
30
9.80b
9.801
9.901
+100
Textile Corp Nanyang
4.450
4.49m
4.40mm
£.27%
4.350.
-20
9.159
9.6%
9,50
9.550
9.450
nloady
By A SPECIAL CORRESPONDENT Hongkong Stock Exchange failed to react at all to the Wall Street boom yesterday and closed with no improve- ment whatsoever from last week.
HONGKONG
STOCK
EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Stock Exchange this morning amounted to approxi- mately $507,000. Noon quota-
One might have expected the market to wake up or at least level off on its downward spiral, but it drifted instead fractionally lower levels at the close yesterday.
The Hongkong market, a bi the past, takes time to react to both the New York and London markels and at the moment the sudden convulsion's
Wall Street have been viewed with caution in the Colony.
Follow-Through
What will be studied with the utmost care, is the Jullow- through to this boom. 21 10131 take a few days to see whether tions and the morning's trans-it is real or just a flash in the
actions:
Shares
JANKS
11 Ban's Box Aqua INSURANCES Lombard a SHOPING Jain Nay..
MTC.
ا تھا لوگان
Buyers Retlors
Sales
130 840 270
635
223 4 124
10.000 € 127a
Street with the premium
ented down ; non-assent- eds were mostly up £ or £1 sterling. Gennan Polash non- assenteds lost £1. Dollar stocks Wall soared in keeping with
Wheelock
0.70
DOCKER.
|
Dock ............
110 53
Provident,
(0) .....
13.30 11.90 500
ip
two points to 11 per cent.- United Press.
New York Foreign Exchange
Closing rates were:
Consta
England oficial
Astralka
30-day's
10-day m
New Zealand
South Africa
Oct, 24.
14.70 LAND, ETC. HK Hotel, 14.40 14.00 1700 14.50 2007 14.00
pun.
If the boom is sustained ther
Exchange the Hongkong Stock should attract the investors and stop the rot on the market.
The market
has been in
A
HIK Realty UK Tram Star Ferry
1334
28
NEW YORK STOCK MARKET
STARTS WITH A BANG
-AND ENDS
WITH A SPUTTER
New York, Oct. 24.
listless late for some time now The stock market started off with a bang
but last week the market in general started to drop steadily end at the close yesterday the decline had not stopped.
The daily turnovers for the 500 130 week have been small except 33.00 for yesterday when there was a 33.50 mish to sell utilities and stores, and these have been the inain- 1.50 1.50 30,000 1.625 stay of the local market.
16
JK Lanu, 339% 33.78 200 1,317 Humphrey's 10. 10.10 1,000 à RUBBER Ainale Trust UTILITIES TRID 20 མ 000 22.07
Star Ferry Yaums!!
...
القتال
120
Worst Beating
## All Blue Chips had losses the worst Lights taking ... 18.30 1800 7500 18 14.30 with
1,500 18.30 beating, dropping 50 cents. 27.30 27.30 or 2720 Other utilities also ad large
1.03-31/32
3/10 2.77-11710
Electri
h
2.701
2.244-
2.50
OTODY.
Hope 1100 STORES, ETC.
ers unchanged.
LONDON EXCHANGE
Closing rates were:
New York
Montreal
Amsterdam
Copenhagen
Frankfurt
Milun
Pariz
Buckhol
Zurich
2.797 2.79-15/16
20914-2697,
10,03-10.63*, 1839-190,
uniqunted 1752-1753
1184-1184
14.4824-1441 12.974-12 971
Others unelinnged.--Undled Press
Agreed Merchant Rates
The Exchange Banks' Assurin- on announced today: Canadian dollars maximum selling: 160/18: minimum buying: 16 13/10 T/T 10% O/D
LOME
BAN
21
LOME
MAN
TLE
1500 7.30
142
1000
200
21 20 Usses.
27.20 Cements fell badly again this 27.20 week
dropping $1 to close at Macoa F. 1040
fowest since 1954. I Telephone 20.00 28.80 1.000 0.70 $25, their INDUSTRIALS
Apart from the bod markel conditions, Cements have been getting the bad end of the Siño- 30 Japanese cement war in South-
cast Asia.
Corpeet ****
Ba
Datry. 15.00 16.10 1,000 Watson
12.00 13.20 201
COTTONS
Textika Nanyang
400
..
4.43 4,000 4
4.30
0.26
INVESTMENTS
·Allled
0.45
435
Exchange Rates
thiy
In the stores section, Watsonn and Dairy Farms continue to drop another 10 cents each,
Ior the week The turnover was just over $1 million, which is one of the lowest weekly turnovers for many years.
Out of the 24 stocks listed, 17 registered losses while Üve The other two, were steady. Lombard and Far East Invest- mont bad fractional rains This tally is no improvement on last 1230 week which was 18 lower and 100) 11.10 eight unchanged.
5.10 16.43
Bunners wit done ta By local tamoljiva *xchang market thoning at the Following rates:- U.S. dollar tong #3) b... Sterling notes (per £1) Australian noted (per Indonesian rupiah iper Siam ticol (per 1001 Singapore 19fait
LOMBA BANK
12M"
DANI
LOMBARD
BANKING
tir)
なう牛丼です
1
Featureless
Here is an Ice House Street observer's account of the market:
ended with a sputter.
Profit-taking and selective, buying and selling left the lat pretty well scrambled up at the close.
A number of stocks rained or lost a pelni or more. On Average there អស practically no change.
The session was calm m contrast with Wednesday's Leetic trading, when the market soared more then US$8 billion for the sharpest gain In 28 years,
Heavy Trading
Troding was very
heavy in the high the first hour, with spoed reporting tickers running as much as seven minutes late. However, volume slackened
each hour after that.
North American Aviation and Lukens Steel
were the
all three 70,000-diare mark
hem was third topped the for the day.
Celanese Corp. G. LT, Finicial Corp. Chree Manhai. Bask Chrysler Motors .....
Cumax_Molybdenum Ciucit Peabody Colgate-Palmolive Ca. Columbian Carbon Co. Commercial Dredg Consolidated Edison Continental CH of Del. Crown Zellerbach Cuban Amer. Sugar Diamond Alkall Diamond Match Di Douging" Alroraft Day Cheticals ... Dupont de Nemours Eastern Airline
Eastman Kodak
El Paso National Cas Family Finance Coty. Firestone Tyre & Rubber Ford Mater.
General Electrio General Fooda General Motore
Gen. Fub. Util. Getty all
Gladen Co. Goodrich 1. J Co. Goodyeur Tyre Golf Oll
cyden Newport
Corp.
There were a number of big
Homeslake Ming Co. blocks early in the session Ingersoll-Rarid notably 18,000 shares of Lukens Inland Steel Co. and 15,000 shares of Bethlehem, mit Business Machines
Interchemtex Corp.
Inti arvoster international Nickel most Intemational Paper. actively traded issue, Bethlen Tel & Tel
Jolin-Manville Co. Kansas C. Power & Light Kennecott Copper Lugent Meyers Tab, Co. Lockheed Aircraft Low Inco?p..... Lone Star Cement Co. Lowenstein & Sona McDonnell Atrevaft
Stock Exge.) Mekabi Irun Corp. innerota Búning Mission Development stonsanto Chemical Co. Montgoniery Word Motorola inc. National Cash Reg. "A National Dairy Prod. National Lead
The
Dow-Jones
elusinft Dow-Jonas averages showed industrials off 0.73 to 438.40; rails' off 0.00 to 113.08; utilities up 0.51 to 04.00, and 65 stocks up 0.04 to 148.36. Sales for the cession of 4,030,000 shares compared with 4,600,000 shares on Wednesday.
There is little of any nota to repart on the Block Market which, in a week ent short by Of the 1,219 issues traded, 617 the holiday, experienced dull advanced, 413 declined and 180 and featureloss trading con held
New lows unchanged. ditions throughout.
were set by 54 stocks and new Even the improved senti-highs, by three. ment reflected In both Now
New York Stock Exchange London yesterday York and failed to spark any enthusiasm Bond Volume: $8,480,000. on Ice House Street, In fact, American Stock prices continued to drift trace Volume: 1,440,000 shares. Uonally lower as the week
progressed.
National Steel Corp. New York Central Naribik & Western lly.
in Mathieson ... O Mevators Owen-Blinula Class Oxford Paper 0. Famile Gas & Elec, Pan American Airways Páramount Pictures
Parke Davis Co, Penny J.C. Co. Pion. Beli da. Exchange Philip Monts
Procter & Gamble Co. Pittsburgh Plate Culass Publicker Industries Fure Di Republic Bleet .... Reynolde Mat
Dow-Jones closing averagos
Trading has again been on were: 30 Industrials 436.40; 20 de Corporation a meagre scale with the total |Rails 113.00; 16 Utilities 64.00; turnover. Just exoceding the 65 Stocks 148.30; 40 Bonds one million dollar mark which 04.72; Commodity Fatures Index: must be any of the lowest for 166.01. many years.
Market Diary
Here is a market dlary of the Allied Chemicals
duction of Unked KARANTEN.
weelc
Friday:
MORE AND MORE BANK DEPOSIT ACCOUNTS
are lying opened with Lombard Danking, where capital ascimulates steadily is fie assured security
8%
of the Bank, Interest of.85 par armum i paki
oh hums of 100.1
280,306.
Group Aszéla exceed E15,500,000 Interest bald half yourly without deduction of United Kingdom. Income Tax Send today for your copy of "bank pepadit Lecount"nookist "No, Acts from UmeraI
Manager.
LOMBARD BANKING
LIMITED
BANKEES
LOMBARD HOUSE
CURZON STREET PARK LANK, LONDON, VAI
Light scale trading, TÃO: $284,000.
Tuesday: Prices fractionally
Sears, Roebuck & Co. Shell of Cu.....
Saint Bes, Paper Sinclair Ol
Begony Mobilo}} Solar Aircraft
tain.
Boulh Puerto Rico Sugar Southem Co. (The)
Closing Prices
Alden ine. Avy,
101
Southem National Gas
27
Southom Railway (Com.)
Atsidard Brakin
Standard Oil- of CW).
tandard Oil of Ind
Radio
Standard Oil of Ŋ.J.
Steep Rock (Toroin Exge.)
soy
D
311
129
Allied Mill■ Ine. Allia Chahners. Am. Brake Shoo Aindrican Airline American Cable
Com).
American Cyanamdi Dn. Amer. & Forgn, Power lower. T/O: $232,- | Am. Car & Klecitie Am. hoch.de Papy, 000,
American Metal Wednesday: «Dull and feature American melting
Am. Sugar Her loss. T/C $120,000. America Tul-*- Tel Thursday: Remained in dold Anaconda Copper
American. Tab. "D" Turne T/O: $428, Armed Strel
000.
NAMESAKES
ANSWITS=1 Clowning. Brushers, 3 Fool, 4 Buffoon, Comic, Moustache, 7'Sinore
Impudence, 9 Walk, 10 Balle $11 Ekonadište.
Groucho Mark.
·ATYBOUT Alla Cons brining Malawin-JAMESXICOL. Palimore & Ohio
ENGAN AVIAtion" "Corp. Konguet Cona."
Sterling Drug Co.
stokely-Van Camp.
Studebaker-Packard Corp.
Bunting kining
10 Bwitt á : Co:
20f sexas Da
346ation` the,
1046 1ide Water Asen. Qi
2131 Time, Luc.
Ale (Union Carbide,
Lawanpraconhijy Fox Hiin Tik Diliar. Cal
101 Dolon Vacito Railway 10% 3 –Auver
but
3274
-1
NEW YORK
COTTON MARKET
New York, Oct. 24. Cotton futures today back- tracked after a short-lived opening rally lifted the list to now highs since carly July.
of
A previous three-day rise, for → cumulative gain of US$2,30 = bale, joined with reports diy clearing weather for a resump- tlari of harvesting in western areas, in attracting increased hedge offerings.
45
403
16
Finishing around the day's lowest the list was off 14 to 21 points net. Opening prices were up 3 to 0 points. New Orleans closed of 10 to 17 points.
Market
analysts attributed the reversal mainly to technical reasons rather than any chauge 23th the news. Despite clearing weather reports, other advices Indicated more unwanted raina Eij in eentral and erstern sections and a forecast for possible light frost in Tennessee sections.
PRIVATE SURVEY
The first private October crop survey
Tha appeared today.
report placed the yield at 12.1 million bales vs the last govern- 34ment Bigure of 12.4 million bales,
10
298
303
The next government estimate
10 will be made on November 8.
ОТ
254
The survey estimate 42 per cent
of the crop has been harvested against 63 per cent last year.
Loan entries for the week ended October 18 totallık 101,- 18905 bains, highest for any week stace the season opened on August 1. Net stack of 1957 erop 30% cotton under loun amounted in 27400,899 bales 771
against 1,329,441
bales last sense.
Lateness of the current sea- son explained the lag in entries compared with last year when Hie harvest was much more advanced.
Volume Open interest
20,100 231,500
drifted Inda-
while traders watched rollies and
do- fast-moving stock market, Domestic consumer in- terest in the delivered market remained on the quiet sido,
Shipment: rubber was quiet
limatted with
and offerings pricca arm. Ä few sales re- some three ported included
shoots Oct-Nov., cost and freight at 2711⁄2 cents a pound. Spot No. 1 Rs was quoted at 20 cents, nominal.
The
LONDON
rubber market WAH quietly steady with spot quoted at 24% pence per lb. Prices; No. 1 R apot......
Settlement house term:
24-24
Nov.
2415-2434
Dec.
2416-2412
Jan./Mar
25-253
Apr./June
2016-202
July/Gept
51-255
001/3000
2514-243-
Ceneral markets, elf bonis, ports:
25% bover 24-211
Uct.
Dec.
2015-24% Esiate crepe, thin Nov. 2015
thick Nov. 25%
AMSTERDAM
The market was quiet today. All quotations were unchanged, - United Press.
*
*
*
Trade interests were reported An both sides of the market in the way of evening-up' ac- counts pending further raw market developments.
Contract No. 4 (World); Jan: 3,59: Mart 3,039 Map: 3,639 July: 3.63; Bept: 5.2 Oct: 3.080; March; FEN.
Spot-cents per b. fub Cuba)
3,80.
Open Interest: 0,207 contracte
Contract No. 6 (Domestic): Mar: B.400: kany! (8.55b; Julę: 8.000). Fept: 9.650; Nov; 6.837,
Spot-cents per lb, cif NY **. duty): 4.33.
Open Interest 047 United Pres
contracts.
New York Metal Futures
New York, Oct. 24. Prices of metal futures closed today In cents per th as fol- lows:
Lend Get: unquoted; Nov: un- united.
Zine Oct: 0.89b; Nov; 8,996. Copper Oci: 23.085; Nov; un
aucted.
Tin Oct: 90.311b: Nov: 29.3. United Pre48.
P.O BI EA
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Outwards "ODUSAN" "CANTON"
"SENDA*
""CORFU" "BALMARA”
Homewards
*
CHUSAN "CÀNTON"
*
降
"BENDA" * "WARTHAGE“
Leaves London - Dus Hongkong
SABOT 50/
Nalled
20th Oslober
13th November win November
sith Ocjober
19th November
10th December
15: Deonber
23th December
Laivas Hongkong Due LonŐAN
30th November ford December
Ird November
atud November 18th December
Ith January 17th January 12030 FebruseT
11th February
Via Singapore, Penza, Colombo, Bombay & Adsi.
* SUNDA” șiěla Volumin and Bombay, rade (at Burre and extends to Bamburg, Rotterdam sad AnsweID.
BRITISH INDIA S.N. CO., LTD.
"SANFUIA" due 300 Det
at 31st Oct.
“FULTALA” one jath Nov., kulls Lath Nov.
"SANTHIA" due at Nov.
alle 2214 Nov
from Calcutta, Hangoos de Breakin for Jok
from Japan
for Bingtipore, Penang, Itsazoon & Cricutta
(том Јарал
for Singapore, - Penang, Rangoon & Calcutta
P. & O./B. I. JOINT SERVICE
32) 201
1522
5822
10
Monih
3015
Dec.
4359
Mar
22,300 214,000
Atay
23.100 216.300
July
12,400 117,000
2012 Del.
0,700 99,900
Mar
Tolal
56
4,800 90,500 940,100 bales NEW YORK
#50 37,000
800
Balle
SUMARIA"
Dec:
Prices of cotton futures closed today as follows:
Spot: 33,150: Dec: 24.22-73; Alagi 34.30: May: 34.939 July: 340;. oel: 33.33-14 Dec: 33.03; Marijoita.
NEW ORLEANS
Prices of cotton futures closed today as follows:
Bpot: 3.3: Das: 34.71; Mar: 337: Maya" $1.50; July: 997; Out: 1979 Dee: 33.55; Mar: 330s,
LIVERPOOL
Cotton
futuro closings, in penca per lb, were ná follows:
Contract Om/Nav: MER DeeJati 26:10: Mar/Apr: 15.43
santract Ce/NOTED 1/
Mar/Apr: 1
Cotton crudelis follower
SAO PAULO
Future zelòdinita,
porr, Julle were
March; 3.80; May: 40.30: July;
89.33: October: 4045
tha
ayarage price of un-inch cot
In the Unlied
Staten
100 al 14 disignaled markets was 3h64 vénia.
spot
"ODRA"
Th Vost
vas 25th Oct.
"OZARDA" dan Sint OLI. Ist Nov.
6th Nov. sail 710 Nov.
"OZARDA" due and Dio.
pats i Dec.
from Japa
FOR Hingapore, Penang. Galamba, Karachi A Bombay
trom Kerechi, “Bombay, Cochin & Bingspors for Japan
from. Japan
for Singapore, Bombay, Karachi, Kuwait, Azərda & IthurrafuIZLAIŽNY"
from Japan for Singapore, Bombar Bhavnagar Karachi ELAND, borrhe & Kuwait
EASTERN & AUSTRALIAN 5.5. CO., LTD.
"NELLORE" joads 6/7th Nov.
alls Bth ov
"NANEN" nde 11/ista Nov.
KADA ROSA NOV.
Los Labuan, Sandakeä, stabaut, Briébaur, Byd- Boy. Melbourne Adelaide
ree Sandakan, Bythes
MelboŭED
All vessels, hayo Mhóity, to call, AA KAY DHÉRE, NA
to, phage for APKORAKAM WIDa, ar, wiihen
doc hi purbeulars apply to MACK NAGA MAQEDON
OH HONG KONG ILL