THE CHINA MAIL, FRIDAY, DECEMBER 13, 1957.
TRADE and COMMERCE SECTION
TIGHT MONEY AFFECTS MARKET Oil Refinery DOW CHEMICAL
HONGKONG STOCK EXCHANGE
Our Own Corrcspondent
Business done on the long-
kon Stock Exchange this
Cements Make Headway In Dull Week
By A SPECIAL CORRESPONDENT
IIK Bank Lombard
Union Wheelock UK Wharf
KK Dooks
Provident
IK Hotels
324411
★ The Share Market At A Glance ★
Up or
Nov 14
Nov 21
Nov 28
Dea &
Dec 12
Down
83214
820
B45
845
steady
33%
31b
Jzb
32b
Rieady
76b
79%
75%
77
70
6.55
1,03
0.40
0.60
0.55
1198
117
117
117
116
-$1
51
51b
81%
Gib
5140
+500
11.700
11.60
11.00
11.00
11.551
14.10
160m
14.70
15.10
14.85m
*-250
HIK Lands
33.25
33.60
23.25
33.25
23
-250
HK Renity
1.30b
1.35b
1.35
1.35b
1.35
steady
IK Trams
22.30
22.00
29.90
22.80
22.00
-200
127%
1281
1274
1260
125n
steady
958
93
9339
91
97
+$1.50
17.90
18.40
17.40x
Electricn
20.20
27.30
26.00
17.50 27
17.20
-200
20.70
---300
HK Telephone
26.30
20.30
25.90
25.90
25.00
G.I. Cement
22.10
22.80
24.10
25b
27.30
+12.30
Dalry Farm
15.00
16.29
16.20
16.80
10.30
-50a
A. 9. Walson
12.
12.25m
12.201
126
126
11.70
300
Yangsize
6.300
5.30
5.33
5.355
0.35
steady
Allied
3.75b
3.80b
.4.73
3.7011
3.750
+50
A
HK & FE Inv
9.000
0.50
"0.50b
D.GOD
0.001
steady
Textile Corp
4.40b
4.50
1.60
4.50
4.55
+50
9.45n
11,50%
9.30%
8.95b
8.20
incruing amounted to appro Tight money has again affected the
ximately $320,000. Noon quota-
tion
TATAG
The
Transactions were:
Shares Buyers Sellers
BANKS
JK Bank.
CKI
G
mornin's
Nales
#13
40 kl
045
Fist Aala.
270
INSURANCEs
1.burd
33
SAHIPPING
Whee.ock
6.40 6.13 1000
3000
0.50 6.45
DOCHS, ETC.
K. Whic
116
DIL
Provident
11.40 1150
Dock
(0)
LAND, FIC
Hotel 14.70 55 ,500
14.50 530 14.20
INC Land
$5,00
1.30
RUBBER
1.40
130
2.20
iumphreys
Realty
Aกมะโ
Truet
A. Tawah
sungata. UTILITIES Тад
Peak Trom
(Q)
136 1376 2,000 + 1,376 1.20 1.20 0.000
2.20 4.000
1.40
*10
Electrle... 26.00 20.80 Telephone 25.40 25.50
Hongkong Stock Market, which closed yesterday after a dull and featureless week.
Due to the absence of my in-¦ They closed at $27.36 sellers centive on the market, it pro- | yesterday with no buyers, creded towards the end of the { klock yrar under amali pressure.
Another feature that has kept the market depressed is the fact that many large companies ja Hongkong ike to clear their books up at the end of the year and have sortie ready cash al hend.
Continue
It is expected that the market will continue its present trend until after the New Year.
of 100 was sold at the beginning of the week for 327.50-eir highest quote for any months. This sudden rise har been accredited to rumours of a land sale,
Cottons
Cottons made guod gains in the_week-Textiles went up fo $4.55, a gain of five cents, while Nanyang closed at $0.20 a Dise of 25 cents on the week.
All titles had losses tis week It the stores section, Dairies and Watsons both huch-
Crawford while Lane rlosed with unsatisfied buyers at $14.
One of the few stocks to make any headway during the losses, 36 week was Cements, which rou- ued to make a recovery after their adverse fall hut month,
100
12
Peak Tra
(N)
1.435
Yasunati
03
06
Li
(0) XD.
17.30
600 fu
800 A
2004
17
500 A +500
INDUSTRIALS
Centert
21.30
STORES, ETC.
airy..
Watson ....
10.40 11.00
190iv 11.3u
COTTONS
Tex likes
450
4.60
MISCELLANEOUS
VARD 15.00
B.K. & F.E
Invest.
9.00
500 Gr 9.00
Exchange Rates
Budne was done in the locat vanieillesal exchange
this market morning at the following pate
5.34
15.80
12.67
22.20
U.S. dillar, uper Sij Sterling notes (per £1)..
Autolaa les per £1 Indonesian rupial
Slam teal per 100) Sing
(Stralis)
(per 1001 13.70
11
SINGAPORE
STOCKS
Singapore, Dec. 13.
Brokers today quoted the fo) - lowing stock prices:
Opening
Turnover for the week was down to $1.73 milion comparer with inst week's turnover vi 52.30 million, Tally was six
NEW YORK higher, six unchanged and 12
RUBBER
MARKET
Now York, Dec. 12. Rex rubbor futures today closed 45 to 65 points fower with salos of 163 contracts.
Jon: 20.80; Mar: 20.55; May; 29.40; July: 29.25 Sept: 29,15 Nov: 2005:
: 2000,
Standard contract closed 45 to
65 points lower with no sales reported.
Jos: 29.30, Mar: 205 May: 2940: Jux: 2977; Sept: 15 Nov: 20.03: JAK: 2007.
Zvier trend reflected com- mmission house and trade scilling with the lower Singapore market. Uncovering of stop- loes orders extended the de- cline. although the market tended again toward the close on local covering.
Part of the selling also wWALK $1.775 engaraged by trade Tuports Indicating no interruption of 40
consequence in December ship- ment from Indonesia, although that situation continued to be keenly watched,
Shipment business was re- ported quiet
sales of with Fome threo remill browns, Dec/Jan. shipment at 25 cents
lower comprared with Mine higher, right unchanged and seven lower last week.
'Reduction
Here is a lee House Street observer's account
The inarket:
Stock
of
cx-
Thic
Market perienced another week of dull trading conditions resuli- ing in a further reduction in which the overall turnover amounted to $1,737,000,
The continued lack of interest caused prices general- ly to yield ground but losses mostly and were gradual fractional.
Recent popular Donniers and Tele- such as Electries phones in the utilities accion, Diary Farms and Watsons in the stores group lost ground.
Cements continued their re- covery during the early part of the week but following the general trend of the market, closed slightly below the best level of $27.50.
Lane Crawfords, however, were an exception and show- ed improvement to close with unsatisfied buyers at $14.
Rubbers were д alade firmer in sympathy with the higher price for the commodity itself.
Market Diary
Entitati Rubber Cu
1.12.
Drita Berned Peltaleti
Syndiente
Cutisidated! Ti Smelters
Ord.
4.
Fraser & Neave Lid Ord... Fraser & Nrave 15% cum.
prež
92.74
$4.00
Cannon Mniaya) Lanted $3.321}
Hongkong & Shangbal Bank-
Ing Corp
$150
Hongkong Tin Lid.
Kumpa Ltd. "
$1.87
Kuala Kumpor Tin
131 d
Lunas Rubber Estates Ltrl.
$1.05
Malayan Breweries
** $3.4236
New Sarandah Rubber Co.
cents,
Lid.
$2.50
Petaling Tim Ltd,
$2.53
nominul.
Raffles Hote!
Monday:
Singapore Cold Storage
10.04
Straits Trading
.0215
Siraits Strumihi!p
Undies Egineers Ord.
"$1.3215
Wearne Bros. ...
$3.20
leb: cumdiv; i exall-China
erratically, an
The market was down slightly | Tuesday: at the opening on disappointing OverseLe advices and moved actual but
nervous market
Mail Special.
$2.05 1
Har Ferry
Yaumalis
Ch Light
Nunyang
++200
Rise
NEW YORK Rails Lead A
>In Wall Street
COTTON MARKET
Now York, Dec. 12. Final avoning-up operations in the December" delivery dominated dealings in cot- ton futuros today. After dropping a $2 a bale to 30.05 cents pound, the spot month rallied sharply, going oft the board at 30.74 cents for D overnight gain of $1.45 0 nut bale.
Other positions at the Anal gong ruled of 10 to up 20 points. The market opened of 2 to 20 points. New Orleans closed off 3 to up 24 points.
FIRM
The Arm closing in December acted lo steady the Jater positions following carlier reactions Influenced by un- certainties over form legislation cd administration proposts to lower the party supports for the 1058 crop season.
New York, Dec. 12.
For The Philippines
Oil
13
CO. TO PUSH
EXPANSION
New York, Dec. 12.
White Plains, Dec. 12. Despite business uncertain- ty, the Dow Chemical Company is to push ahend with its more than $300 million expansion pro- gramme.
The Standard-Vacuum
confirmed. todny Company Manila announcement that it lund been granted a permit, to build $33,500,000 refinery on peatrsala which the Bataon will be the largest private in vestment project in the Phillp- pines to date.
The permit was granted by the Philippines Department of Agriculture and Natural Re- formed sources to a newly subaldlary, Standard Vacuum
Corporation (Phillp Relining ples).
application
The
company's was based on terms of an ogree- ment with Stanvac which had UJCET recommended by the National Economic Council and approved by President Carlos Garcia and lus Cabinet and the National Monetary Board France-Presse.
London Metal
Prices
London, Dec. 12, Prices of metals closed today in sterling per long ton is follows:
Tin spot
a-month
Copper apot
Expenditures for such pur- peses in the 1050 Ascal year ending next May 31 will reach the $102 million originally plan- лей.
The company added that it planned to spend another $175 million although probably not al in scat 1959 as had been hoped.
These plannou expenditurça would follow nearly $600 mil- lion spent on expansion sinen 1048.
Among the properties now under construction is a $50 mil- lion basic chemical plant in Loubiana, whiels is expected to start next spring. Another big project 10 bo completed early next year is a synthetic fibre plan. in Virginia-China Mail Special
NAMESAKES
Answers| Lavengro, 2
Buyers Sellery
790
730
130
7304%
170
1819
102
Lead ist half Dee.
երե
Day Seenery, 3 Account, 4 Spaniards,
Lead tot half Mar...
મ
105 Gipsy, 6 Wales, 7 Bible,
ů
Zine Ist half Ver.
Zinc in half Mar...
01
1 month
Customs, 12 Writing.
di Lore. 9 Travel, 10 Describing, 11
future today.-United
Note: New York motal were unavailable
Railroad issues spurted 1 to more than 3 points Press to lend a rise in the stock market today. Demand from shorts and some investors plus! lack of selling pressure put the rails up after their recent decline to a new average low since Jan. 12, 1954.
Western Pacife at is high | Douglas Airerafi was nearly
4 points higher, Dew Chemicals Gains of 2 points or more were set by long list of carriers.
The rise in the long neglected railroad shares had a good in- fluence on the general markel. Gains ranging
Dupont de Nemour Eastern Arithe
Eastman Kuchal
El Pani National Gar Firestone Tyre & Halber Ford Motor
Geliteal Electric
| General Foods
Glidden Ca
to more than 2 Soneral Motors Gen Pub. Uu. points dotted the tape. The deity ou sugars provided several Wide gains-more than 4 In West Indies Sugar, for example.
IRREGULARITY
Narrow irregukelty in oils and declines in motors and air- crnils marred the rise in industrial issues. Stocks Brmed under
the lead of Lukens.
Some traders practised CRU- tion because of the impending sales sext week of Commodity Freeport Sulphur Jose Inore Credit Corporation unrestricted use.
stock IOT
than In its section. Owens
Hlionois Glass led the
glass Issues with a rise of more hon 2 points
Bldding was expleted to be aggressive for the 1956 стор stock which contains a sub- stantial amount of desirable grades, currently in tight supply-528 advanced, 402 declined and
NEW YORK
cotton
Prices of
futures closed today in cents per lb. as follows:
at
Spot: 36.76; Dee: 30.06: Expired 12.30 pan. Mar: 34.53 May: 3625 July: 34.35; Dei: 34,19; Dec: 31.05; Mar: 34.09; May: 34.04.
NEW ORLEANS
Prices of cotton futurce closed today in cents per lb, un
Here is a market diary of the follows: week! out a pound, cost and freight, of Indonesin, Spot No. 1 Rss Friday: Wis quoted nt .20%
SINGAPORE
LIVERPOOL
Mat: Spot: 20.60 Dec; expires: 30.00: May: 30.20 July: 34.30; Oct; Ruled steady. T/O: 31.10; Dec: 34.10; Mar: 34.13: May:
34.00, $381,000.
Light scale trading. T/O: $380,000, Price movements frectional. T/O: $360,000.
Wednesday: No material change.
T/O: $253,000,
Locks interest 770: $377,000,
There was good interest for lower grades but with uncer Flursday:
London Foreign tainty of future supplies, sellers
Exchange
London, Dec. 12.
Closing rates were:
New York
Montreat Amsterdam Jirusela
Copenhagen Frankfurt Parko Stockholm Vienna
230-200-0/16 2.73-16/10-2.74-1/10 10017-1004 13900-140.00 19.85 10.361 11.707-11.77
76-117031%
72.23-12.00 12.209%-1227_
Others unchanged.—United Press.
werd reserved.
With no now feature during the afternoon the market ruled guletat around the final clos- ing levels.
Futures:
No, 1 rubber per 15. Det: 1933-0014
Jo 031-85]
No. 2 rubber per 1. Dec. - No. 5
No. 4
Spot rubber unbaled..... Blanket crepo...
#11-02 79-80 010-2015 74-70
No. 1 pale crepe
AMSTERDAM
40-00
New York Sugar
Market
Now York, Doc. '12. World No. 4 sugar futures closed today unchanged
of 1,100 lucs traded today,
266 held unchanged. A total of 73 stocks hit new lows and 7 touched new highs.
New York Stork Exchange bond volume was $5,030,000.
Americon Stock Exchange volume was 350,000 shares,
Dow Jones closing averages
Were:
30 industrinis 20 rails 18 utilities
Atocks
40 benda
Comm. future price Index
Closing Prices
Am. Brake Shoe
Allied Chemicals
In
Allied Muts Inc.
Allis Chalmers
American Airline
American Cable & Radio Comp. American Cyanamid Co.
Amer, & Foren. Power
Cotton future closings, pence per lb, were as follows: Did contract: Dec/Jan 20.31; Mar/Apr: 26.04; May/June: 20%; July/Aug: 20,14 Oct/Nov: 28.71,
New
1.31: contract: Dec/Jan: Mar/Apri 2120; May/June: 27.10; July/Aug: 27.00; Oct/NoV: 27.53.
BAO PAULD
Arti. Ose & Beetria Am. Mach. & Fđợ American Metal... American melting
Cotton futuro clodings, in Am. Buxar Ref...
American Tel. & Tel. cruzeiros per kilo were 48 American Tob. " follows:
Anaconda Copper Armco Steel Armour
Mar: 41,00; Day: 40.00; July: 40.63; Ort: 40.50; Deer ungaobed,
In the United States, the average price of one-inch colton at 14 designated spot maricets was 38.97 cents.
Total sales at these markets werd 103,411 bales. United Press,
to 9 points higher with LONDON STOCK
sales of 252 contracts,
The domestle No. 0 contract closed 2 points higher to 2. voluils
Allas Coris, dining Baltimore & Onio
Beneficial Finance
Dendix Aviation Corp.
Benguet Cons.
Cal. Tractor
438,43
100.15
07:07
147.00
Goodrich (E, F) Co. Goodyear Tyre
Gulf Oll
Heyden Nowport Corp. Hoinertake Mining Co. Ingersoll-Rand
Inland Steel Co. Interchemical Corp,
int Business Machines Int'l Harvester International Nickel International Paper Inti Tel & TC). John-Manville Co. Kansas C, Power & Ligtst Kennecalt Copper Liggett Meyer Tob, Co. Lockheed Aircraft
lgewa Inearp.. Lone Star Cement Co. Lavaristein & Soris McDonnell Aircraft Stock Exge.) .... Mesabi Iron Carp. Minnesota Mining Mission Development Monsanto Chernival Cu. Montgomery Ward Motorola Inc.
National Cash Reg. "A" National Dairy Prod. National Lead
National Steel Corp. New York Central Norfolk & Western Hy olin Mathieson Olls Elevators Owen-Ilino Globe
Oxford Paper Co. Pacife Gas & Elec. Pan American Airways Parenotime. Pictures Parke Davia Co. Penny J.C. Co. 101.26 Penn. Salt Co.
Phulp Morris Procter & Gamble Co. Pittsburgh Plate Glass Panicker Industries Pure Of ......... Radio Corporation Radio Corp. Pref.
#7472
2214
3015 Republic Steel
Reynolds Metal 151
Sears, Roebuck & Co. thithell all Co. .... INEP
Batut Reg. Paper
Sinclair
11
Sorony Mobffali
Solar Aircraft
South Puerto Rico Bugar
Bouthern Co. (The)
Southom National Gas
Southern Railway (Com.l
Standard Brands
Standard Olt of Cal.
1 Standard Oll of Ind
031
Standard. Oll of NJ.
(Ani.
Sinep Rock (Toronto Engr.)
1014 | Sterling Drug Co.
481 Stokely-Van Camp.
1** | Studchaber,Packard Corn.
Suns Mining
31. Swift & Co.
Tide Water Amn, Oll
Twendell Century Fox Film
Ballichem. Bleel
1376
|
Boeing, Airplane
Borden (The) Co.
Texas Co
Burroughs Add. Machine
30%
Textron Ina,
Campholt Boup Co.
34
Canadian Pacino It
24
Cavo bl. X. Co.
10
Union Carbide
Uniali Oil of Cal.
1213
404
Union Pacifle Nailway
Unlied Aircraft
B
United Kids Corp.
511
301 US. Gypsum
UF. Yol "D) ....
49
US. Line. Co.
U Rubbert
UB Bee
MARKET was lower with sales of 30 contracts.
The rubber market easier. Prices closed today In
New York Foreign Builder per kilogrami, dif Dec. start, responding to a commis-
Exchange
New York, Dec. 12.
Closing rates were
1,01 7/10
11.00 /:0
1.70 6710
3.70 9/23
Canada England official
Australia
30-days
New Zealand South Atrion
Uruguay
Inde
Others uncha
as follows:
*
No. 1 rubber
No, rubber
No. 2 rubber
No 1 etape
Prices med after an easy
slon house demanth and cover. 2.49 nom. Ing despite a lower raw market
2.35 Hom. nad reports that Morroco 234 som bought s cargo of Brazilian 1,27 TOUL rawn for January slipmerit at a Note: London rubber prices discount under the Cuban raw were unavailable today.
-United Press..
2.11no Agreed Merchant Rates
1.80 10/28
0110
Canadian $: Maximum Selling Lovky, Minimum Buying... ITAL T/T, 17 3/10 O/D.
basis.
London, Dec. 12,
י
Сошлете Согр
C. I. T. Ranela) Corp.
Chrysler Motors ......
Climax Molybdenum Cught Peabody .... Colgate-Painalive 26, Cytombilan Carbon (0,
Credit
Comidated· Edison
Teostraci
Diamond Alkali-k Diamond Match Co.
Gilt-edged securities fea-Continental Oll of Del tured an irregular higher Cuban Ayer Bugar stock market today. Governant - Leuen rose from seven to 11 shilling the market was hit by a flurry
Contriot No. 4 (world), " of short-covering orders, Jan: 9.00; Mar: 2.0; May: 8.84; Industrials scored
fractional July: 04: Dept: 3.84: Cel: 1278; Mari 3.0 Spot (cents per, lb. fobalna led by tobacon, shares Cube); 3.76
Open Bilerest: 0,369 contracts."-
Contract No. 8 (domestic);
Oil Sasuch were mostly.
un-
changea,..." British · Petroleum, when blavlly ovimationrivodi Mars 8.85; May) 0.85; July: 5.73; Iarkt issue is due to be traded Sept; 0.18). Nov: $,81; pot-Cornis per the cif NY m6-duty). 8.mkerdere weet Monday, was quiet; ***
Open Interest: 1,000 cookerid... Dollar Mocks closed un-
cfarigndi---Uolled Prom.
#124
401 U21. Emeling
Warner Bros.
Westi
Western Union Tel, Co. Wert Va, Pulp & Paper Woolworth
SHIP
-United Pr006,
BENDLINE
George Borrow.
*
*
POBIE
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR 5 ORIENTÁL S.N. CO.
Outwards
"SUNDA"
“CORFU” "BALMARA" "SINGAPORE" "CARTHAGE” "CHUSAN"
Domewarde "CORFU” "BUNDA“ *
-“CARTHAGE"
**CHIUSAN” "CANTON"
LILY LOC Baled 3/ Sailed 13/11 Salted 10/11 Salled 3/12 Sailed 11/12
Due Hongkong to Part
18th December 21st December
18th January 13th January
17th December 15th January 1
Leaven Hongkong Que Londen
10th December
7th January 17th January
30th JanuaTY 11th FebruTY
19th January
12th February
17th February
17th Jebrua
14th March
Via Singapote, Ponase, Columbo, Bombay & Aden.
* "BUNDA" omits Colemão à Bombay,
calls at Wavre à extends fiamburg, Rotterdam & AniWITH
BRITISH INDIA S.N. CO., LTD.
"OXHLA"
doe 14th Dec. kalls 15th Dea.
"SANGOLA"due 27th Dec.
Falls 28th Dec.
"SANTHIA" dus Dili Jan.
salls 10th Jan.
from Japan
for #gapore, Penang, Range Calcutta Chittagong
from Japan
für Singapore, Penang, Rangoon & Calcutis
from Colcutta, Rangoon, Penang & Singapore for Japan
P. & 0./B. 1. JOINT SERVICE
"IKAUNA"
due 10 let
Balls 17th Dec. "URLANA" due 11th Dec. milk Bit Dec,
رااحم
Tu: Jan.
"ITOLA"
dpe
dth Yan.
"OBRA"
.
Ce 10th Ja
salts 17th Jan.
from Singapore, Cochita, Bombay Karachi for Japsh
from Japán for Singapors, Bombay, Kandla Karachi
From Jap
I
for Singapore, Cochin, Karachi. sarah. Ichor- Tomar & Kuwait fram Karachi, Nombay,, Cochin Singapore for Japan
EASTERN & AUSTRALIAN 5.S. CO., LTD.
"EASTERN” 10a6#3/4th Jan.--
all Bth Jan.
น
"ARATURA" due · 8th Jan.
for Laburn, Bandakan. Rabaul, Brisbane, Syd- ney, Mixiboura i Adelaide
from
Australia
All verrals have liberty tá ma at any pARTAˇan or off the rente, & the rente de sailings are inkjesi ip change or amendmeti With or without métier,
Fur dal morficulori nuply to
MACKINNON MACKENZIE & CO. OF HONG KONG LTD. Telephone Bos: 277714.