THE CHINA MAIL, FRIDAY, DECEMBER 20, 1957.
TRADE and COMMERCE SECTION
· Page : 11
SELLING SPREE STOPS Japanese Surprised At
HONGKONG
STOCK
General Decline
In All Prices
EXCHANGE TURNOVER ONLY $1.4 m
Our Own Correspondent
Business done on the Hong-
morning amounted 10
kory: Stock
proximately
quetaVonn
Exchange
$270,000,
this ap- Noon
and the morning's
Transactions were;
By A SPECIAL CORRESPONDENT
The Hongkong Stock Exchange closed steadier yesterday as the flood of selling receded and the market seemed to consolidate itself for a comeback next
year.
Shares
Buyer Sellers
Sadie
The
BANKS
-315 Bank. 210
272
7014
which selling.
Wa3 Lruught on by many local com- panier dusting their necounts for the end of the year and having some rendy cash in hand, 0.05 6,000 7 645 uppent to have stopped and been replaced by a buyers' market,
East Ania
INSURANCE
Union...
SHIPPING
Wheelock 0.45
DOCKS, ETC.
K, Whart
1JG
Dock .....
Provident
11.
K Hotel
14.30 15
HK Land.
(0) ....
LAND, ETC.
8315
At prevalling prices, which
12 1,000 ch 11.79 ore quite low, there are many good buys, but due to the lack
32 2014 101
Realty 1.321% 1.40
RUBBER
Amalg
UTRATIES
'ITE2}
1.30
1.33
た
Star Ferry T
Yaual.... DE pd 100
C. Light
(0) Ian 1730 2,000
Electric
20.40
Telephone 25.30
INDUSTRIALS
Cement
STORES, ETC.
Dairy 10.00
Watson ... 1134
COTTONS
4.43
Textiles INVESTMENTS Allied
20.40
17
570 2,300
16.00
20.70
.... 3.0is 3.70
2,000
450
New York Sugar Market
Now York, Dec. 19. World No. 4 sugar futuros closed today 1 to 5 points lower with sales of 137 contracts.
Domestic No, sugar closer points lower to 1 point higher with Enles of one contract,
Easier trend in the world
lower reflected the contract row tuation and hedge pres- Dure.
Morrocco was the accredited buyer of 37,000 tons of Cubans, belleved mostly for February shipment, with some in March.
Other reports said
the Brazilian Institue sold some ex- port possibly up to 20,000 Lons, Contract No. 4 (work); Jan. 3.08: Mar. 3,78: May, 3.78 July, 3.00, Sapt, 390, Oct., 3.77; Mar May, 3.53 Spot-cents per lb. fob Cuba), 3.80.
Open interest 4,15 contracts. Contract No. 6 domestic): March, 3.82; May, 506; July, 8.77; Sept., 5.77).
No. 5.0 Spot-teents per 1. cif MY ex-duty), 5.60,
Open interest: 1,609
United PrORK.
contracta.-
London Rubber Prices
London, Dec. 10. Prices in pence per lb. closed
as follows:
No. 1 Rapot: 2416-241. Settlement house
term:
2424-24717 Feb 25-233;
251-25 Jan/Mar: 23-25!!
Juno; 251-2551: July/Aug:
Jan: Mari ADC/- 2011-
251: Oct/Bee: 2514-292k-
General markets, 'eil basis, ports:
Doe: 24-2455: Jan: 243-24
Feb:
2496-24967 Estate crepe
this
Jan:
zaj: truck Jan: 23%.
AMSTERDAM
The rubber market was easy today. Prices closed in guillers per kilogram, cif Jan. as fol- Jows:
No. 1 rubber
2.35 nom,
2.34 nom.
of ready money business has been slow.
Steadied
The selling spree rent nearly alf stocks down to lower levelu This week, but at the close yo** terday prices leadied some- what.
The only share to tuck on a gain for The week was Lane Crawfords, which went up to $14.20 yesterday, a 20 cent rise from last week.
NEW YORK
COTTON MARKET
New York, Doc. 19. Cotton futures today opened lower and romained on the defonsive for the rest of the session,
the market moved up slightly
Afler Saking $1.20 a bale,
at the close on from the lows local covering operations bu
The murkel
All utilities were down with finished with net losses of
Telephones, which lost 50 cents, leading the decline. Even Dnity Farms lust 50 cents.
Conents, which went up to 227.30 sellers last week-their highest for some time--dropped 50 cents this week to close yes- terday at $23.80.
Turnover for the week was down to $1.46 million compared with $1.73 million. Tally was two higher, five unchanged and 17 tower compared with six higher, six unchanged and 12 lower last week.
Quietest
Here Is un lee House Street of the account observer's market:
13 to 14 points.
opened off 2 to 5 polots. New Orleans closed off 7 to 13 paints.
★ The Share
HK Bank Lombard
Union Wheelock
HK Wharf
ПK Docks
Provident
HK Hotel
US Reaction
By STEWART HENSLEY
Washington, Dec. 19. Japanese officials said today that chances are - "only about 50-50” that they will be able to reach agreement before the end of the year on the amounts of Japanese textiles which will be shipped to the United States during 1958.
Market At A Glance ★
Up or
Χαν 21
Nov 28
Dro G
4
Dec 12
Dec 10
Down
870
835
815
820
-$15
335
0136
32b
32b
3244n
+750
79K
7030
77
10
-$1
0,05
0,40
0.00
6.56
6.60
-150
117
117
117
110
115
-----$1
3144b
BIK
51b
140
514
steady
11.80
11.00
11.00
11,55mi
11.50
~50
14.60m
14.70
15.10
14.85:
14.70
-150
IK Lands
33.50
23.25
55.40
33.25
+33
3274
280
NK Really
1.35h
1.35b
1,35b
1.35
1.325
-214c
HK Tram#
22.00
22.80
22.80
22.00
22.40
Star Ferry
128-
1276
125n
1250
12:51
steady
Yaumatis
0311⁄2
9336
954
07
94
Ch Lights
18,40
17.40xd
17.30
17.10
16.90
Electrics
27.30
26.80
27
20.70
20.50
--$2.50 --200,
200
HK Telephone
20.30
28.00
23.00
26.00
25,10
G.L. Cement
22.80
24.40
250
27.30m
20.80
-500
Dairy Farm
10.20
16.20
10.80
10,30
15.89
-500
yards.
A.S. Watson
12.25m
12,206
.12b
11.70
11.700
steady
0.30
5.35
5.23b
5.35
5.350
steady
inent
3.80b
3.70
3,700
3.76m
3.700
-Be
HK & FE Inv
9.50
9.806
2.00)
9.60b
0.70
+100
Textile Corp
4.50
4,80b
4,50
4.55
4.55% steady
0,500
9.30
8.95b
9.20
8.50bxd-200
Yangsize Allied
Nanyang
THE NEW YORK
STOCK MARKET
New York, Dec. 19.
Stocks gained 2 billion today in fairly active re- covery headed by steel, aircrafts, chemicals and oils.
into and ran
In
Aircraft gut Douglas action on the upside Operations centred in the cur-up more than 2 points inte rent
Spot the day on a successful ring deliveries. crop house selling in the March, May of the Thor mistle of which it Lock- was pre- is a prime contractor. and July deliverien surned to be hedging against heed got a lift carlier or a big
out of the Govern- Air Force onder. purchased ment stock.
NEGLECTED
The whole aircraft
group moved ahead. Steels registered galas of 2 points in US Steel, Sbort and Tube Youngstown One house was the accredited and Lukens. Oils were up trac- seller of upward of 16,000
Liens to 2 points. Kennecott bales. Houston spot interests Copper led the coppers higher. were buyers of about 5,000 Chrysler was strong in the
Commission motors. in July. bales
The 6 millionth auto- house brokers and local traders mobile of 1957 will roll off a
both 011
wore
market.
ex-
Stock Market The perienced one of its quietest weeks this year with the turnover failing to reach the paltry total of $1,5 million.
generally World markets appear to be depressed by the overall situation and it is dif- ficult to foresee any silver fining the present time.
It is therefore, neither sur- prising that the market Jacks uny genuine buying interest
ness
crop
Chan Manhat. Bank Chrysler Motors Climax Molybdenum Clett Peabody... Colgate Palmolive Co. Colombian Carbon Co.
Consolidated Edison Continental Oil of Del. Crown Zellerbach
Cuban Amer. Sugar Diamond
ka!!. Diamond Match Co. Dougina Aireraft Dow Chemicals ... Dupont de Nemours Eastman Kodak
E 120 National Gas Family Finance Corp. Firestone Tyre & Rubber
General Electric General Foods
General Mutars
Gen. Pub, Util.
Ghidden Co. ....
sides of the assembly line tomorrow, putting Goodrich (B. F. Co.
this year well ahead of last.
130-
were months New
Cautious- relatively neglected.
coupled with won certainties over farm legislation when Congress mcote in January.
The certifiented stock regis- tered another sharp rise, mov- overnight up 2,102 bales
the highest L 21,035 bales, since mid-October, 1955.
In November at
The Census Bureau reported domestle consumption, of all 6,305,205 bales. The figure came slightly ahead of expectations, It com- pared with 819,818 bales used were again relatively small in in 25 working days during most cases, and it is hard to October and 810,089 bales used single out any one particular in November last year,
at the moment nor surprising cotton for 20 working days that prices have tended to nax again during the past week.
Losses, though predominant,
stock.
Dairy Farms lost 80 cents but would appear to be got.
Month Vec.
Volume Open Interert
Mar
11,400
Day
Ling cheap at the closing level of $15.80.
Liv
0,400 11,000
6,200 230,300 331,000
201,800
Oct.
£,000 140,400
The
1,400
63,000
Mar.
600 23.500
May
Total
Ulitics all lost ground with Telephones suffering most,
. Elsewhere declines were in line with the general trend and the only xainer of the week was in Lane Crawfords which
fracionally moved bigher to $14.20.
Rubbers were
·qulet Aut alio moved to slightly lower levels.
Market Diary
200 10.400
NEW YORK
STRENGTH
Railroad
showed issues strength late in the day. Ship building shares strenthened. Firestone Tyre, U. S. Gypsum, Caterpiller Tractor, and Locws stood out on the upside in their respective groups.
Today's rise was in contrast with that of yesterday which ran day. in the into selling late Gains were retained in most sectiona, with only a moderate profit-taking deve- amount of loping,
Goodyear Tyre Gulf on
100%
Heyden Newport Corp. Homestake Binlug Co. Ingersoll-Hand
297
371%
Int'l Business Machines
Ini Sices Co.... Interchemical Corp.
Int'l arvester International Paper
International Nickel
Int'l Tei Tol John-Mahvlite Co. Kann C. Power & Light
Kentecoli Copper Liggott Meyers Tob. Co. Lockheed Aircraft Loews Incorp Lone Star Cenem Co. Lowenstein & Sons. McDonnell Aircraf
Stock Exp<.]
Mesabi Iron Corpo
M
Monsanta Chembal Mintgomery Ward
ine. National Casi Sig. "A Today's advance began short- National Dairy Piud. ly after an irregularly higher National Lead
National Steel Corp. opening. It was based on belief New York Central
Norfolk & Western Ry. that the market in its current
Mathieson position is at a point where deals Elevais mand has developed previously Owen-inois Glass
Oxford Paper Ca and also the rise was alded by anticipation of some moves case money.
20
This is the day the Federal Bleserye banks moet,
Pacific Cos de Face Pan American Airways Paramount Pictures
Parke Davis Co. Penny J.C. O
There
Penn, Salt Co.
Phlip Morris
40,000 1,058,100 bales were rumours the discount rate inight bo revised downward again. Also there was talk of o Prices of cotton futures closed cut in the 70 per cent margin requirement which has been in today as follows:
effect since April 25, 1955, when It was boosted from GO
per cent.
Spot: 36.45; Mar: 30.18; Mag: 38:20; July: 35.02; Oct: 34.30; Deci 34.31-22; Mar: 34.14: May: 34.00.
NEW ORLEANS
Prices of cotton futures closed today as follows:
Spot: 35.56: Mar: 36.14; May:] 03.20; July: $5.92; Oct: 34.31; Dee:
liere is a market diary of the 34.19: Mar: 34.15: May: 31.06
Of the 1,176 issues traded, G16 advanced, 293 declined and 267 held unchanged. New tows appeared in 107 stocks and new highs in 2.
Procter & Gamble Co. Publicker Industries Pure Ol
Budis Corporation
Radin Corp. BICL Republle Steel ...... Sears, Rorbuck & Co.
Khe CHI CẬ
Sain Reg. Paper
Sinclair Oil
Soceny Moulon Soln Areraft
30%
90%..
NATO TALKS
BOOST
DEALINGS
Now York, Dec. 10. Many stocks registered gains of up to two dollars the in active dealing on New York stock market today following publication of the Nate communloue.
The opening had been irregular with some carTY- over selling from yesterday but late in the morning a rally began.
The gals were led by steels, motors, oils, metals and aircraft shares, many of them up from one to two dollars--Reuter.
LONDON STOCKİ
MARKET
London, Dec. 19. Weakness in oil issues, in- cluding the new offering of British Petroleum, led the market into lower ground at the close today.
Some oil stocks, slipping by met as much as two shillings, support at their lowest levels for the year.
Unilever backed down 2/- an otherwise tractionally lower bluechip Industrial section.
the They said they had been sur-tem textile shipments to prised by the "ruther bitter" US. in an effort to appease reaction of American textile the
American manufacturers manufacturers to Japan's pro- and prevent pressure for off- posal to make certain modile-clal US, restrictions, tions in her self-imposed quotas while retaining the 1857 overall During 1957 celling of 233,000,000
they pub aÐ square overall ceiling of 235,000,000 square yards on textila ship- State and Commerce Departments to the U. s.
ofctals, who met with Several weeks ago, in talica American industry represent with
the American oficials, atives to get their views, sald Japanese proposed setting the they hoped to schedule another same, overall limit in 1958 meeting with Japanese Minister said they wanted to make some Talcao Shimoda and his qlden | "modifications" in individual within the next few days to categories. discuss the matter further.
MODIFICATIONS
For instance, they wanted to increase the quotas on velveteens and ginhams, which were Est There were Indications that 2,300,000 and 36,000,000 square American omcials might agred yards respectively for 1957, and la somo of the modifications compensate for this by reducing the Japanese proposed, rejecting shipments of poplin and shirting. the extreme position of the which are not in good demand
hore. American industry.
was believed However,
In addition, they proposed unlikely that the US, govern- | Increasing the "elasticity" pro ment would feel free to endorse vision of the quotas to permit nil the Japanese modifikation shifting a greater proportion of proposals.
shipments from one category to been another if this proved desirablo. limiting their col--United Press.
The Japanese have voluntarily
*
*
*
(Am.
21%
British Governments were kile and closed virtually un- changed.
Gold and copper shares were lower. Dollar stocks and
Gorman Dawca Loan non- 24 asserted fell £1 and Young
Loan fell £4.
*
37%
Japanese bonds were quiet and unchanged.-United Press.
*
South Puerto Rico Sugar Southern Co. (Tha)
Southern National Gas Southern Railway (Com.) Standard Brands Standard Oll of Cal. Standard Oil of tna, Standard Oil of NJ. Sleep Rock (Toronto Exg Studebaker-Packard Corp. sunabing Mining
SINGAPORE
STOCKS
+
P2O B•I
B-IE
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO,
(twardn
'NAJMARA* "SOMALI" "SINGAPORE"
"CARTHAGE”
"CRUSAN"
"CANTON"" "SOUDAN"
Hossawarde
“HUNDA” offe
"SARTHAGE” "CHUSAN" "CANTON"
"CONFU"
Leaves London Sufted 10/11 Bolled 21/12 Sailed 6/13
Salted 11712 Salled 17/12
7th January tóth January
Leaves Hongkong
Tth Janu
Jith January
20th Januar
Das Hongkong
1st December 30th December
6th
January
13th
JanuaFT
IM
February
י 'מ:
0 February
the Indon
1900 Fabruare
t
February
February
11th February
14th
March
14 March
Tita
April
"SANGOLA"dus 77th Dev.
"OLINDA"
Singapore, Dec. 20. Brokers today quoted the
#
following stock prices:
Opentag
Lid
Datu Lintang Rubber Co.
British Boruto Patroleum
Syndicate
4711 4722
Consolidated Tun Smelters
20/04 Ord. Fearer & Neavo Ltd. Ont. $207 17 Fraser & Neavo 19% cum.
"TTOLA"
doe 6th Jan sail 7th Jan.
WON
No. 3
No. 4
TO-Thursday:
Exchange Rates
this
T/O: $139,000.
Light scale trading. T/O: $208,000,
London Metal Market
Am. Brake Shoe
American Cable & Radio Corp
Amerseas Станания Са
Amer, & For Power
AL GAS & Electric Am. Mach, & Fdy American Metal ... American Rafting Am. Sugar But, ma London, Dec. 19. The Un market was steady American Tel. & Tel with spot unchanged. Copper American Tob. "B"
Anaconda Copper
London Foreign and other metals were ateo Armo Biel
Exchange
Closing rates were:
steady today. Prices closed at Armour the end of the official morning
Baldwin-Lara-Lam. Baltimore & Ohio
sespium, ini sterling per tona | Deneticial Finance,
London, Dec. 19.
tou as follows: 3.00-7/14-3.50-9/18; New Yorkg Montreal: -232834-2.75461 Amsterdam: 10.00-10.0035: Brussels;
140.00 In
140.06: Copenhagen! 19.341-19.20; -5.06 Frankfurti 43.2036-21.7094: Milan: 13,43 | 114BY2-1743;1; Onl5: 20.00-20.01;
Dendix Aviation, Corp. Benguet Cogā jau Buyer Sellers Bethlehem Sieci
#pot 3-month Copper spot
S-month
Kurich:,: 18,995- | Zīna ma half dem. 92055.33.2021 others unshanged --United zing and FREE HERE.
731
Dosing Atryadiman w
Borden (@) Cò,
10016
.12045
Ikurroughs Add Machine
Campbell-Hour Co
canadian Suckin St.
71
CH:15:5).
RC Tractor
031
Business was done in the local unofficial exchange market morning at the following TALOR:~~~ 1,8, doller (pự (1) jok Sterling hotos (per £1)..... Attitralian Dates (per #1). Indonesian rupiah., (per 100) maura kloe) (per 100) ... Ringaporu çilirmitu) .....
13.00 1474736-18,473%;
1.21 Press.
Celtic Corp
GILT, Finance Corp.
Twentieth Century
Union Carbide ......
7214
Union Oil of Cal.
20%
Union Paco Rallway
Valled Aircraft
251
United Gea Corp.
4U.S. Gypsum
Ush Ling 60
119% 126. Bubber 器
17
28
U.S. Smeking
LUB, Bieel
Warn res.
Westinghouse Electric
Western Union Tel. Co
13917 West Va, Pulp & Paper
78) | Woolworth
United Prese.
Wearre Brow.....
Special.
exdir.-China
* NAMESAKES
0
Answers:-1 Puglits! Sharkey, 3 Glant, 4 Measure, Contestant, Champion, Heavy, 6 Beer, Punches, 10 Weight, 11 Resch, 12 Training,
Primo Carnėra.
SHIP
BENDLINE
Via Hingapore, Penang, Colombo, Rombay & Atem.
* "SUNDA" deit. Colombo a Bomba® cmix i Fort Budan, Jeddah, flavre & extends Hamburg, Rotterdam & Antwerp
BRITISH INDIA S.N. CO., LTD.
tails 2812 Dec
"SANTHIA" due 9th Jan,
salt 10th Jan.
Due 30th Jan, andle 31st Jan,
from Japan
to Singapore. Penan, Rangoon & Calcula
from Calcutta, Rangoon, Penma & Singapore for Japan
from Japan
for Singapore, Penang. Hangoon, Calcutta Chillsgone
P. & O./B, I. JOINT SERVICE
7th Jun.
Jan.
from Japan
&
tor Singapore, Cochin, Karachi, Beersh, Chor- ramahatir & Kuwait
trom Japan
for Singapore, Madras, Colombo, Bombay. Bhanagar & Karachi
from Karachi, Bombay, Cochin & Singapore For Japan
from Singapore, Cochin, Bombay "Haruchi for Japan
EASTERN & AUSTRALIAN 5.S; CO., LTD.
"EASTERN" loads 2/4th Jan,
Baile
Bin Jan.
"ARAFURA” do® sth Jari.
rez Labuafi, Sandakan, Rahaul, Brisbane, Byd- sey, Mulbourne Adkiside
from Austraila
All verrels davé Úberty to mali at say półta se er of the routé à thé rente a pallings séu vukivil to change of amendment with my withows' možico,
For full particular, øpph, ta z
MACKINNON, MACKENZIE & CH OF HONG KONG LTD Telephone Nov 277!!
No. 2 rubber
No. 3 rubber
No. 1 crepe
OVERSLAS
further
on
2.25 nom.
2.55 nam. week:
New York Stock Exchange bond volume was $5,720,000.
American Stock Exchange volume was 700,000 shares. -
Closing Prices
some-
LIVERPOOL
future closings, Remained
Colton what hesitant, T/0: pence per 1b, were as follows:
Old contracts Dec/Ja $420,000,
27.00) Mar/Apr: 2700: May/June: Extremely quiel July/Aug: 27.80 Oct/Nov: 750
2d 50: Dea/In New contract:
27.50; conditions. T/O: Mar/Apr: 21.00; May/dune:
July/Aug: 27.00 Oct/Nov: 50 $307,000.
-United Pre
10
20.120;
Allied Chemicala
Allied Mills Inc.
· Prices tended ang T/O: $302,000.
10
Allis Chalmers ..
SINGAPORE The market opened higher on Friday: better
and advices
steadied market.
quiet There was some buying for Monday: Yugoslavia and Iron Curtain accounts; lower sheet interest:
Ball
but demand for Tuesday: Temilled grades continued. Futures:
No. 1 rubber per ib. Jan. 1314-63% Wednesday: Lack of interest.
Job. £34-KT
No, a rubber per 1. Jan. 0093-011%
spot rubber unbaled
Blanket crepe
Io. i pala crepa
78-
7314-7019 05-07
-United Preg
Swift Co.
Texas Co.
Textron Lo
Tide Water As, Oli
Time Inc.ury For Fin
pref.
$4.05 Gammon Malaya) Limited 232K Hongkong
Shanghal
"ITRIA"
нь
Banzing Corp.
$450
4137
Hongkong Thi Lic.
Kumpar Ltd.
30%
Kunko Kampar Th
Lunas Ilubber Estates
/od $1.05
"OBRA"
3
Sme Broweries
$342
Sorondan Rubber
"ITAURA"
Petaling Tin Ltd.
13,47%
10
Haffies Hot!......... Вилкарете
$7.00
1012) Зол
kalli 19th Jan.
das 4th Feb. salir 6th Feb.
199
Bteamship United Engineers Ord,
Straits Trading Storage
$18.20
diary
exall.