THE CHINA MAIL, FRIDAY: NOVEMBER 15, 1957.
TRADE and COMMERCE SECTION
Where Is Hongkong Money Going To? MARKET DROPS TO LOWER LEVELS
New York Rubber Outlook For End
Market
New York, Nov. 14. Rex rubber futures today closed 5 to 15 points higher with sales of 136 contracts Closing prices:
Nov: 16.70h; Jung 26 13: Mar: 20.00, May: 26: July: 21.02; Sept;
100 (19581: 24.02.
to
Standard contract closed
110
15 points higher with salos reported. Closing prices: all nominal,
Suvajang Jun, 20.83; Mar: 20.95; May: 27: July: 27.02; Sept: 212; Hov. (1038): 7.01.
After a buoyant start, when Kolns ranned up to around half
+
a cent per pound, the market flattened
when the risc bilt
demand
to attract
su: tainsi
from factories and
other constancra.
Intra-dealer switching ot March contracts for physical rubber accounted for part of the activity. In the shipment market, business in sheets was reported small, but
some
three ombers were reported done for Nov.-Dec. shipment out of Indonesia at 23 centi a pound Spot No. 1 R83 Was quoted at 28% cents, nominal,
SINGAPORE
and
The market opened higher on beller aversoas advices ruled steady wifi minor fluctua- tloos on a fairly active market. Factories bought small quant]-¦ tles.
Closing prices were:
Of Year
Very Dim
Looks
By A SPECIAL CORRESPONDENT
The Hongkong Stock Exchange is sick and it looks as though it's going to need a lot of encouragement before it becomes healthy again.
HONGKONG
STOCK EXCHANGE
Our Own Correspondent Business done on the Hong- kong Stock
this Exchange morning amounted to approx mately $220,000. Noon quota- tions and the morning's irons- actions;
Buyer Kellera
Shares
BANKS Ik Banks East Asia.. No. 1 rubber per tb Nov: 7 2016: Deel 10%-77 No, 2 rubber INSURANCES per 1b Nov: 747-70%; No, a rubber
Union per i Nov: 721-73: No. 4 rubber per lb Nov: 0014-002); Spot rubber SHIPPING unbated 757-7814; Blankel crepe: Wheelock. 005-08; No, I pale crepo: 00-22.
NOCKS ETC. X. Whart
LONDON
Gaita
The total lack of interest and moncy in the market has sent it down again this week with the turnover dropping to the Eccoad lowest level this year.
This downward trend in the market has been evident since the end of September after the Bank Rate announcement and the depression of the New York mariect. AL the mument the outlook for the end of this lust quarter looks very dim,
Buildings
Where is Mongkoup's money going to? A lot of it is going into the prevent building boom in the Cotony while some of Is going to the United States to maintain declining margins on the New York Exchange, Higher Interest rates have pleo made money over
dearer. Turnover for the week was 040 000 10 ly $1.37 million, seven lakhs les than Inst wack's, while the tally was thrce higher, Ave un- changed and 18 lower compared with four higher, four unchanged and 10 lower last 460 week,
270
108
0.35 1000
114
..
at
Provident,
(0) .....
LAND, ETC.
31.00
•
The rubber market was very sleady with spot quoted 22.%
No. Has spot: 221-2244.
000
Dec. 11 Hotet 1610-14 10
Settlement hours tettiin: 23-231e with 235 peld: Jan/Mar: 217-239. 2114-234
2315-23
23-23
ANT-MAN 22-Oct/Dec 23
24, 23-24.
53
38.10
1.30
APAIK, XD 1.20 130
The stock that may have been In bringing one of the causes purt of the market down is Telephones-leader of utilities, With the uncertain position of Hongkong Telephone shares be 2 thing so Oriental Telephone Company in London, Phones have dropped another 40 cents this week. Yesterday's price al $25,30 makes a loss of $2 in two weeks.
Apr/June:
Clumphreys
July/Sept:
Recity....
RUBLER
UTILITIES
2010 22.00 100.10 12.20
Trusl General markets, cif banda, porta:
Nov: 22-2244; Deo: 2211-22,6; Jan! 221A-2434
Estate crepes in Nov 20%%% buyers, Doc 23-24. Thick Nov unquoted Dec 24 sellers.
The
AMSTERDAM
Fram Star Ferry Youmati...
E. Light
(01 .... 17,70 17.00 1000
500
C. Light
(N).....
Telephone INDUSTRIALS
17.10
rubber market was mecirte 29.10 35.20 1000 2 steady today, Prices:
No. 1 1.20 buyare; No 2.10 Cement 22.30 buyers; No. 2.12 buyers; Crape Amoy No. 1 2.33 buyers.-United Pres
London Foreign
Exchange
London, Nov, 14. Foreign exchange rates closel as follows;
Сал STORES, ETC.
Dairy 18.00 10.00 800
Watson
COTTONS
11
Textlin ....45 4.478 2000
Nanyang
INVESTMENTS
Allied.... 3.70
Utilities
*
BK Dank Lombard
Union Wheelock HK What!
New York Sugar Market
Page
DOW CHEMICAL INT'L OPENS
OFFICE IN HK
Now York, Nov. 14. World No. 4 sugar futures
New York, Nov. 14. today closed unchanged to Dow Chemical · International five points lower with Limited amounced today that It has opened a new foreign sales of 144 contracts. sales office in Hongkong, its
of the world's
The Domestic No. 6 contract) third in the Far East. closed unchanged to one point | The company, an export lower with no salea reported. 'subsidiary of the Dow Chemical
Company, one World contract ruled quiet
largest producers of chemicals despite the
rebel reported
end plastics, said Erie C. burning of sugar cane in Cuban Hudglow has been appolated fields. Tradera marked
time acting manager of the Hongkong
odies. He recently WED Far Eastern plasties sales managar
Observes remembered that for the Company's sales office in the past there had been in Tokyo,
★ The Share 'Market At A Glance ☀
་་
Oct 17 8540
. Oct 24
540
Oct 31 8273gb
Nov 7
820
Nov 14 63240
Up or Down +512.50
22b
6.90xd
8244b 812
6.78
39%
32 m
1
77
7514xd
70%
250 +-400
8.00
6.70
6.55
150
12011
120%
JIKA
1180
119%
HK Docks
531
414b
52)
1141
Provident
11600
11:00
11.80
11.80
11.70%
190
waiting to seo if any serious damages materiaļizes.
HK Hotels
14.60
14.55mm
14.70
14.50mm
14.10
-100
11K Lands
34
18.50
39.76
33.26
33.28
steady
1.49%
1,3750
1.36b
1.31Ko
110b
-7320
23
22.70
22.90
22.70
22.30
- tion
131n
230%
129
1270
127.
steady
1090 d
091
Bom
919
18.70
18.20
18.30
18.10
1
17.90
£3.00
27.30-
26.40
20.80
27
24.70
27.20
25.70
20.20 25.30
600
400
28
#5
23.40b
21.10
22.10
16.10
18
16.30
16.10
18.00
-200
11.10
13
13.20
13.10
12,
$1.29
Yangisze
0.45%
$.45%
5.45xdn
5.80
5.30
steady
Allied
4.158
4r
3.800
3.75b
-50
HK & FE Inv
9.10b
0.90%
0.001
9.00
0.00
steady
Textile Corp
4.37%
4.355
4.376-
4.45
4.4th
9.85m
9.551
0.55
9.451
9.458
* steady
HK Realty
HK Troms
Star
Ferrs Yaumatie Ch. Lights Electrica
HK Telephone
G.I, Cement
Dairy Farro
A.B. Watson
: Nanyang
NEW YORK
COTTON MARKET
New York, Nov. 14.
Cotton futures today re-
gained a foothold an opening
after price-slide, substituting a good-sized
gain for initial losses up to 60 cents a bale. Far forwardi new стор bullish deliveries became pivot following reports that the Administration might ock Coo areas to approve sharply higher
to farmers payments
who
NEW YORK STOCK MARKET
Wall St
St Reacts To Ike's
Plea For Funds
New York, Nov. 14.
Stocks finished lower today after advancing early
in the session.
The market rose early in the day on President Eisenhower's request for increased defence spending to neutralise Russia's scientifle advancements.
and
However, profit-taking deposit crop land into the long-caulicus selling chipped away term conservation part of the at those gains during the session soll benk.
near the close selling picked fell into up and the market lower ground.
rose to n Nearby December new seasonal high at the close when the general list was up eight 1o. 24 points. The market opened off three to 12 points. New Orleans closed up eight to 14 points.
Under the suggested pm- gramme, farmers would be paid on average of US$15 an acre for
land
land put into the reserve com- pared with the present USSD base. Onicials estimated the
17.50
It was learnt yesterday that 17.79 stockholders of. Oriental Tele-
phone shares have
to up 2023 November 29 to decide whether to take up the option of three Hongkong Telephone Company shares at 27/- each for every five Orlental
or they hold, 4.10 arcept
cash of 81/- for cach Oriental share.
Other
Forencon utilities to fall were Troms, 40 cents to $22.30; Lights, overnight 20 cents to $17.00; and Electrics, 60 cents to $20.20,
Exchange Rates
S
New York: 2.00-3/10-2.80%: Mont- real: 0.02-0.0051 Copenhaven: 10.3736-19.3011; » Frankfort: 11.17%- 11.7735: Amsterdamn: __ 19.03-10 63!4) Dillan: 1783-175234 Paris: 11803e 11044 Stockholm 14.509-14/6031: Vienn: 72.08-72.03; Zurich: 1220), 12.30%: Brumois, Lisbon and Orla Slam Beal (per 100)
were unchanged-United Press.
Business was done in the local
fal exchange market morning at the following rates:- 119. doline iper $1)......... Sterling notes (per £1). Australian notes (per. 21) Indonesian rupiah (per 100)
Singapore (Straits)
They oll
Misslie stocks, which led the advance, lost gains running to more than two points. Most of thesc LEUCH
Anished lower, with losses of around a point or more fairly numerous..
Weak Spot
New York Central Was the weak spot in the railroads, los- ing Ground two points, Youngs- town and Lakens lost around a paint cach in the steels. Foote Mineral fell more than two and Rand more than Ave.
Dumont Alkali Diamond Match Co. Dow Chemicals
Dupont de Nemours
Eastern Airline
Ena Kodak
Paso National Gas Family Finance Corp.
Ford Motor
General Electric
General Foods. General motora Gen. Pub. Vlll.
Getty Ou Glidden Co.
Goodrich (B. F.). Goodyear Tyre Out ou
Heyden Newport. Corp.
Iteinertake allies có Ingraoil-ftand
Inland Steel Co.
Interchemical Corp,
Int Harvestar
|
Int'l Business Machines
International Nickel
i
John-Mauville Co.
Înți Tel £, Tej
anais C. Power & Light
wagen Issues lost most of Kemeco Copper
increase would
some Into
con 40,000,000 acres servation phase of the soll bank. 'reactions reficcted
news that
their early gains. shortly will com-
Olls were irregultly lower, cotton to sell.
taken over under the 1956 loan pre- reflecting increased tensica in
About 820,000 baics the Middle East, 3,700,000 balos taken mixed. Metals favoured
be catalogued im-downside, Steels move
government mence
Motors were
the
and losses last week."
Cements started their down-gramme. word plunge again this week of the ciropping $1 to close at $22.10. over, wil This is their lowest since 1954, mediately and made avaliable tionally.
for purchase before the end Chrysler was strong spot in when the slock dropped $10.10. They are $19 par of November, This downward spiral reflects
to
After that bids will be
ac-
the outcs, rising around a point.
Of 1,165 Issues traded, 631
were lower, 268 higher. how Green Island is faring in cepted at two week intervals
28.10 which not only affects Hong- been offered for sale.
עם.
this
18-47 12.62
14.06
the Sino-Japanese cement war,
until the whole stock
Volume
Open interest
32,400,
27,000
22,000
20.400
155,600
11,100
110,000
1.800
700
122,600
1.81 kong, but the whole of South-Month
enst Asia.
The
Dec.
"MORE I
SECURITY"
Writing of opportunities for
investors, Edward Westropp,
City Editor of the
"Sunday Express ", said
on 4th. August, 1957
8%
Per-
Be discriminating here. sonally I like,a little less interest and a lot more security than some of the tiddlers offer.
This advice seosa prčven before the recová 25% vína to Bank Rate, Although interesi raian 'hawa slow rtame, the mood to be discriminating tu even more Imperiaal. Leotard Banking saw pay 8% ca Depositars seko ara assured of completa, safnty sunil semurity.
GROUP ASSETS EXCEED £15,000,000 #% daterest without, deilustion at Untied Kiendom intense tex Send today for your copy of “Bank Dupests Account" booklet No. AD.72 to Generni Manager
LOMBARD BANKING
LIMITED
DANKERS !!
Joel Ogns LOGOBARD HOUSE, CURZON STRERT PARK LANK, LONDON, WA, DIRO 4611:00 am)
Medichez and Agents chronchoy the Wall.
only stocks that have Mar. been holding well in this badly market are Banks and Unions Oct. which tacked on gains for the Dec. week. Stores were easier,
Low Ebb
MAT.
Total
998,400 boles. NEW YORK PRICES
Here is an Ice House Street today as follows:
Prices of cotton futures closed
observer'a account of the market: |
8pot: 33.05: Dec: 35.82-54; Mar; Btook 35.80; May: 35.77-18; July: 35,45-47; Ost: ; Dec: 33.07b; Mar: 32.376; May: 3187h.
Bualness ot the Market during the past week. curtalled by Monday's holt day, was agalo at a very low ebb with the overall turnovez only amounting to $1,373,000. Lack of any mustamed buy- Ing power led to a further decline in prices throughout the list with the exception of Hongkong Banks and Untor Insurance shares which re- mained steady with the former notuntly
closlar at $882
buyers, approximately $15 higher than the previous
week's salts' rate;
NEW ORLEANS
Prices of cotton futures closed today as follows:
Bpot: 3.18 Dec: 35.830: Mar: 25.706 May: 35,78b; July: 30AT; Det: 24.00 Deer $3.956: Mar: 33.990; May: 33.805.
LIVERPOOL
Liggott Meyers Tob. Co. Lockheed Aircrast
Lies Incorp, .... Lone Star Cement Co. Lowenstein & Sons Mesabi Iron Corp. Minnesota Minia tracion Development
Montato Chemical Co. Montgomery Ward Motorula Inc. ... National Cards Heg: "A National Batry Prod. National Lead National Bleel Corp. New York Centrai Norfolk & Westem y. Olin Mathieson Otis Elevators Owen-25linois Gijaan Oxford Paper Co. Pacific Game de 500,
An American Airways Paramount Pictures Parko Davis Co. Pony C. Co. Penn. Salt Co. Phip Morris Procice de Gamble Co. Pittsburgh Plate Glam Publicker Industries Pure Ou
New York Stock Exchange volume was 2,450,000 shares.
New York Stock Exchange bond volume was US$5,140,000. American Stock Exchange volume was 620,000 shares.
Dow-Jones closing averages
were:
Nalla:
30_Industrials: 427.94; 20 103,77; 18 Ulies: 84.84; 45 Stocks: 144.30; 40 Bonds: 83.00; Commodity Futures Index: 181.44.
Closing Prices
Corporation Corp. Pret. Republic Sod Reynolds Metal
ttle los ding revolutionary Dow also maintains a resident
ver,
in Sydney, periods. Mor
the trouble sales supervisor arists in the face of prospects | Australia.. for a new high in world sugar Tho company said that the output.
Hongkong office will make Dow products more readily available throughout South-Cast Asia and provide a closer working re- Intionship with customers and Open Interest; 637 contracts
sales representaliyes Contract No. 6 (Domestic): Meraren-United Pres
Juły: 5.01b; Ryan: Spot perce
Contract No. < (World): Jan: 3.73: Mart 3.6: May: 303 July: 82b; Sept: 3.625; Oct: 1,000; Mar: bun Spot price (Eents per lb. fob Cubai; 0.03.
Sept: &.con; Nov:
(centa per lb. ett NY ex-duty); "0.60. Open Interesti 077 contracts Valled Press.
New York Foreign Exchange
In the
London Metal Prices
London, Nov. 14.
Prices of metals closed today
in sterling per long ton follows:
Copper spat
New York, Nov. 14. Closing rates were: Canada: 1.04-1/321 England: 9.00-3/16: 3-day futures:
5.791: Lead 90-day futures: "2,77-15/16; Austra- 118: 2.24-3/10; New Zealand: 2.70- zine 3/18: South Africa: 2.0-9/10; Bet- gum: 0200-16/16; Holland: 2049; Uruguay: 1300: Oiers wichanged.
United Press.
*
*
*
1st hair Nov
运您
Buyers Sellers
ROY
19
100%
Eut balt Teb
101
Iat helf
Fob
Tin
spot
-month
730
716
**United Press.
POBIE.A
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N, CO.
Outwards “CÁNTON" "SUNDA" *CORFU
"BALMARA"
Leaves LondĶE Selled
Sailed
13th November
Das Hongkong 19th - Navesibor
14th Deceráber
15th Droember Dth November 25th December
"BINGAPORE 4 December-
"CARTHAGE"
**CHUSAN”
Homewards "CANTON", "CORFU" "BUNDA” *
"CARTHAGE" "CHUBAN" "CANTON"
--130) JanuaKY 13th December 12th JenueTY 17th Decembar 19th JanuaTY
Leaves Dongkong Un» Landen. 22nd Nevensber Brd Decarshar 18th December 19th January
8th January 12th February 17th JanaTY 30th FatuaSY 11th FebruNCY
17th February 27th FebruaTY
14th Marcu
Via Starapore, Pahang, Colembe, Bombay a Adam.
* "RUNDA" outta Calombs & Bombay calla at Havre a extends Hamburg, Rotterdam & Antwerp,
BRITISH INDIA S.N. CO., LTD.
"BANTTHIA" day 215 Nov. salis fand Nov.
ĐỂ GOL đẹp vừa De
"OKHILA”
waila sth Dec.
due 14th Dec. salle 18th Dec.
from Japan
for Ringapore, Penang. Rangoon & Chizusta from Calcutta, Fangoori & Gt
For Japes
from Japons
for Singapore, Padang, Rangoon & Calcutta
P. & Q./B. I. JOINȚ SERVICE
"ISMAILA" due 17th Nov. ssile 18th Nov.
Gao anh Ng
sally Sist Nov. "OZARDA" de Brd Dec.
Alden Inc. Ay
Allied Chemionid
|
Allied Mile Tac.
$ 15%
28
Allis Chalmere
2016
Shell Du Co.....
American Airline
American Cable & Radio Corp.
Saint Res Paper
*TTOLA"
Sinclair Ou
American Cyanamid Co.
Am. Stachi, & dry
Soory Mobilit
314
American Metal ... American Smelting Am Sugar Bet.
18
South Puerto Rico Bugar Southern National Gas...
Southern Ballway (Com.)
Standard Brands..
1034%
Standard On of Cai
7211
Standard Oil of Ind.
Standard Qu of NJ.
4594
"URLANA" dus 19th Dec.
Studebaker Packard Corp. Bunching Bining
American Tab. "B American Tel, & Tal.
Anaconda Copper Arco Steel
All Cons. Mining Colton futures closing, in Baldwin-Kima-Ham.
Baltimore & Ohio ponce per lb, were na follows:
Old
Bendix Aviation Cars. contrasts: Dec/Jan: 25,000:
Benguet Cons. ..... Mar/Apr: 26.000: May/June: Mkiin Bethlehem Beel JULY/AUK: 20.30: Oct/Nov: 25.1. Beeing Airplane
New contract:
r/Apt: 20.830; May/June: 20.940 Burroughs Add Machine
Dec Jans: 70.850: Bertien (The) Co July/Ang: 2050-32; Oct/NOV! 21,380. Canadion Pavlat R.
unities fed the doctine with Telephones ad
Electrios showing lots of 40 and 60192 cenia respectively.
Stores were
also easier. Cements were again mazkod down,
Elsewhere
"Were
SAO PAULO
CARS (33) Co.
Cat. Tractor Celanese Corp.
T. Tiuncial Corp Stryder Motare V Cilmaz Molybdenuan Chett Pasbody
Colgate-Paloritve C Kanimozak Credit ........ Consolidated "dison col-dipenist. Oll ofbel. Crown Kalierbach Cuban Amer.. 90:
Cotton futures closing in cruzeiro per kilo were as fol- lows:
Deg: 27.00: Mar: 30.50; Bing: 38.50; moderato but a generally July: 38.70; Oct: 39.30. wesker tendency provalled
In the United States, the throughout the week.
average price of one-inch ton at 14 designated apot maF- ket: unavailable.
Toční sales - at these 13. mar- kels were 100,126 baler-Unil- ed Press.
week: Frida
Market Diary
•
NAMESAKES
Here is a market diary, of the
Qufet conditions. T/D; $207,000. Tuesday: Dull and feature, lam. T/O: 3493,000.
marking down of price. T/O: $370.000,0 Chur, koll, 'O show, 8 Fata (7 Thursday: Dull, and feature. Appians, # Zofortiina, # Youth,
bas. TVO: SKULDOO,
Bill Halay
Wednesday: Further
"Anzyuri)==1·Dend; 2° Galíar, ‹8°
4014
Sterling Drug Ca. 114 Stokely-Van Camp.
મ
30
41号
Bulit #Co.....
Texas Co.
Texion Inc.
Tide Water Aun. Ol
Twenty Century Fox. Film
Union Carbkio ...
tilen Oll of ca.
Union Pacino Railway
United Aircraft
U.B. Voll
1.8. Grytserr
416 U.B, Zĺje Co. HA 11.3. Rubber.
***
#Ki Wamer Bros.
Weetmeious actric
SHIP
BENDLINE
Bella 4th Dea
Hits 10th Dec
trom Karaoht,' Bombay," Colombo & Bingapore For Japan
Priam Kingapore, Cochin,
Bombay Kancha
for Srprs
trin Japans for Stepore, Bonibay, TAVIRILAK Karachi. Barth.
me kingroom, Bombay, Kehde & Revachi
EASTERN & AUSTRALIAN $.5. CO., LTD.
“NAMKIN" Ìada 18/19th Now
mus teth Nar, ter, Bandakan, Rydsay
de Melbourne
“EASTERN".der, 4th Dwo.
from AustrāŠĀ
All vennela have thiety, to sátì styuny, phÊNG UN
For fall particulars ouply be. WACKINNON MASKERZEN IM OF HONG KONG LED Telephone Nos: 27-911