THE CHINA MAIL, FRIDAY, JANUARY 17, 1958.
TRADE and COMMERCE SECTION
SHARP DEMAND FOR HOTELS
Rises 50 Cents The Share Market
In One
Day
UNSATISFIED BUYERS
HK Lands 1K Really HK Trams Star Ferry Ynumatis
.0.10
At A Glance ★
Jau 19 847
Up or Down --$2.50 206
Doo 12
TIK Bank Lombard
815
Dec 19 830
Jan £ B00
Jan 9
860
120
32442
3214b
324b
23
Union
70
75
1
26
36%
7in
-$2
Wheelock
0.65
0.50
0.45
0,43b
steady
HIK Wharf
116
1150
120
120
121A
---$1
UK Docks
51
6112
4914b
3D b
81
+-300
I'rovident
11.55m
11.50
11,80m
11.65m
11.00
+260
IK Hotels
14.851
14.70
16.10
14.90m
15.80
+90€
33
323%
3254
32%
32M
steady
1.35
1.325b
1.35)
1,351)
1.350
steady
22.00
22.40
zab
23
དབྱུ་
24.30
+-800
1250
1250
125K
1251
1251
steady
D1
14%
051
9544
051⁄2
steady
17.10
10,90
17.20
16.90
17
+100
26.70
20.50
27.30
20,70
20.00
+100
G.1. Cement
HK Telephone
25.00
25.10
26.50
20.10
+400
27.30$
20.80
20H
Dairy Farm
16.30
15.80
14,247
A. S. Walson
11.70
11.70m
11.70b
26% 13.00 11.706
253
16.50
-100
11.80B
+100
Yangstze
6.15
5.35a
3.30
5.300
5.35b
+50
Allied
3.750
3.70%
3.706
3.675M
3.8750
steady
Hood
HK & FE Inv
9.401
*0.70
9,90m
0,00m
:
Textile Corp Nanyang
4.55
4.55
4.575
4.58
+100 steady
B.70
8.500x d
R.505
8.50
By A SPECIAL CORRESPONDENT Hongkong Hotels stole the spotlight on yester- day's trading on the Hongkong Stock Exchange with nearly 14,000 shares being sold and at the close there were still unsatisfied buyers.
The sharp demand for Hotels, lief in some circles that Hotels yesterday sent the share up 50 have had a very good year and cents in one day from $15.30 to that there is every expectation $15.80. The week's pain was that they will pay
dividend thin year. 00 cents,
This rudden interest in this particular shore could be the
HONGKONG STOCK EXCHANGE
Our Own Correspondent
Business dong in the Hong- kong Stock Exchange this worn ing amounted to approximately $173,000, Noon quotations und the morning's transactions were:
Buyers Kellers
Sharon
BANKS 1K Ink East Asin ..
842 81214
270
10
INSURANCES
Union
Bates
Popularity
21
Another Yeasan for The popularity of this sinck is that it la a Kood buy with the present boonu In Hir hotel business This can be sub- stantiated by the number
of
hotels under construction it the moment and those still in the planning siDUJE,
The market reaction tu Hongkong Bank's final dividend Nnnounçurent of £1-12-6 was
Ch Lights Electrics
25.70
-1
1011
4.55b B.40b -100
THE NEW YORK NEW YORK
STOCK MARKET
New York, Jan. 16.
disappointing as was the reaction A drive against Douglas Aircraft which broke
to
Wheelock's
announcement i
of an unchanged interim of 37% rents,
Banks dropped $2.50 on the week, while Wheelocks remain- ed tendy with little buslangs transacted.
more than 5 points unsettled the stock market in the late trading today,
Thus the way which began on boom on a surprise reduction in margin rates ended on a note
of irregularity.
To the utility section Trans with an increase of 80 cents on continued their upward climb
the week. They closed at $24.30 their highest for many It is believed that 343 months,
Tranu
25 have enjoyed a good your and there are prospects of a higher dividend. this year.
Recovered
that
Other aircraits sagged with Douglas after having held smail gains most of the day. American rell more than a Telephone point <lki Union Carbide. Steels lost most of carly gaitis that ranged to more than point. Motors turned down with Ford a soft spot. Leading olla retreated.
Earlier, when the market frat opened, the lekers ran late
Telephones recovered soine- what from the rumour Some of Oriental Telephone's through the first hour of trading Chuldings of Hongkong. Telo- as Wall Street responded to the Cul In margin requirements from 70 to 50 per cent.
SHIPPING
Wheelock.
6.00
DOCKS, ETC.
K. Wharf
141
Dock
200
1.AND. LTC.
16 3,002.
300 i
10.30
123
15.03
130 1.325
120
ان الحمل
HK Hotel 15.00
HK Land!
Humphreya
RUDDER
...
Tru..
UTILITIES
Tran 24,10
951%
C.
(0)
... 30.00
13
FOCO 6
IG B
12€
17
Ele:Arle
0,70 21
Macau F
10 ED Tele, name 20.10 20:0
STORES, ETC.
phones in London had Core into the local murket. It was learnt yesterday that the Lon- dan shares had not reached the real market yel, and as a esult Telephones tacked on 40 for the week to close at $26.10.
made and Electrics AIS man gains on the week.
Ciments lost $1 this week to yesterday ee at 896 sellers with no
no buyers. ACURVE, for the week was
Dry .... 10.30 15.00 te 16.50 slightly higher than last week's
11.00
from $2.00 inition to $2.13 minon. Tally was 12 unchanged and antipher, seven
ave lower compared with three gher, 12 unchanged and nine
501
14.10
Kwong
S..... COTTONS Textil... Nanyang..
700 w
12
100
INVESTMENTS Yangime.. 5.35
612 lower last year.
SINGAPORE
STOCKS
Singapore, Jan, 17. Brokers Loozy quoted 10
following stock prices.
Batu Lalang Rubber Co.
Lt.
British Bornes Putroleum
Syndicate Consolidated Tin Sinter
Qrd. Fruer & Neuve Ltd. Ord. France & Neave L. 7ICA
Opening
$1.70
40/-
23/64 34.70
_cun prei,
$1.05
Gammons (Malaya) Lid,
Hongkong & Shanghai
Dinkog Corp.
$150
Kumbar Lid.
Hongkig Tn Lut
Kuali Kar T...
31.0249 32/~
Luna Rubber Estates Lid. 11.05
Malayaan 25e więziva
$3.5719
New Serandah Tiubber Co.
T'etaling Tin Ltd.
Singapore Cold Storage...
$2.65 $3.33 $2.00 exall $0.03 #1.6235
Kanies totes
Strat Trading..................
Stristezinship an $10.00 United Engineers Ord, $1.324 Weame from. $3.10
China Mail Spectul
London Foreign Exchange
Cloging rates were New York Montreal
Amsterdam Brussels Copenhagen Tranfurt
Paris Stockholm
3/10
10.30-10.3012 130.7216-130.75 19.2396-10.33Y
11.7734-11.78
1170-1170 ******* 14.8016-11.8013 Others unchanged--United Prem
Light Scale
Here is an Ice House Street observer's
of the account market:
Although there was a 'slight Improvement in the overall jurnover this week, trading on the Stock Market continued to be on a light scale.
01
|
Heyden Newpon Corp. Humestake. Mining Co. Intro-Rand Inland Steel Co. Interchenient Corp. Inti Business Machine Int HarveNIET
internationas Nickel intensational Poper Ti Jolin-Manville Co.' Kansas C. Power & Light Kennecuti Copper
gett Meyers Tob. Co. Lockheed Aircrati Loews Incorp....
Lone Blar Cement Co. 1.pwanste M_Sons, McDonnell After att
Stock Exge.)
Mesabi Iron Corp.
| Minnesota Mining
Marion Developtent Mencanto Chemical Co. Montgomery Ward Motomia Ine National Cash Reg. National Dairy Prod. National Lead
National Steel Carp. New York, Centrul Norfolk & Westera By. OK Mathieson Ots Elevators............. Owen-lol Glass Oxford Paner Cs. Pacific Cna & Elec, Pan American Airwayn Paramount Pictures Parke Davis Co. Penny J.C. co. Jenn. Fat Ca
The margin cut, generally in terpreted as a move to spur a tugelox Economy und Sumic thought It night be Iore runner of other similar actions to bolster business confidence.
Prices were strong and early transactions were
bluclus ranging to 10,000 shares, repre- senting orders bunched by Phip Morris specialists before the opening Pricter & Gamble Co from the demand overnight.
or a total 1.216 issues traded, 133 were higher, 240 lower.
New York Stock Exchange bond volume was 30,920,000.
York Stock Exchange volume was $,950,000 shares.
American Stock Exchange volume was 1,000,000 shares
Dow Jones closing averages
New
were:
Pittsburgh Plate Glasa Publicker Industries pare ou
Radio Corporation Rodlo Corp. Pret. Republic Steel
Heynolds Metal Sears, Roebuck & Co. Shell On Ca..... Saint Her. Paper sinclair O
Socony Mobiloil
Solar Alicraft.
E
RUBBER MARKET
New York, Jan. 16. Rex rubber futures closed today five to 20 points higher with sales of 20 lats.
Jan. 20.05: Mar 27.45: May, 2750 124 July, 21.53: Sept. 2709; NOV. 21.50
Jan., 27.60.
75
70
27
3011
11014
201
40
Standard contruct closed up
5 to 20 points with no sales reported.
Jan. 25.65; Mar., 27.15; May.
Jan. 27,55.
Steady news prevailed in an otherwise featureless market. wy Out of the 3 lots done, six were in the form of exchanges for physical rubber.
3011⁄2
213
41
403%
97
521
1312
FOL
NEW YORK COTTON MARKET
Now York, Jan, 16.
| LONDON STOCK New York Sugar
MARKET
Market
#i
World No.
New York, Jan. 10.
4 sugar futures one Lo 3 points lower with males of #35 con-
London, Jan. 16. Markets had unsthar ono of
their idle days with prices today closed up or down by 3d; turn- tracts.
6,575 bargains
ovor ot was the lowest thus far this month if we ignora the January 1 holiday absontoolsm.
News that American
invi's-
Domestic No. 1 sukar futures closed unchanged to 1 pourt
higher with no sales reported
Contract No. 4 (world) May: 3.72 July: 3.72: Sept; 3.73; Oct: 3.72; r: 3.00; Opet interest: 0,30$ contracts. Hput-cents per 1b. fub Cuba): 3.131 down only the market price Contraes No, (dunestie) instead of 70 per cent, as here-
March; 5.62; July: 5.06 Sept: tofore, sent a lot of nimble 2.14; Nov: 3.75; Bput (cent per ib stocks this NY -aty: 5.03: Open 112+ money into dollar
Lerent: 1.043 contracts-United Free, In rises of morning, resulting from 3 to 5 points. Premium roon to 8 per cent.
Cotton futuros today 16tors can buy stocks by payi
sawed erratically over range of $2 a bala with prices floating below the previous close from stort to finish.
After an extreme loss of 43 points, the market elored net 11
British Goverments bad io 10 points lower. Opening some more buying with the prices were off 1 to 3 points. well-known ONL up 1/10 New Orleans closed 10 points for 1/8.
Elsenhower's farm
Iidustrials
were nearly im- Exceptions were
US Personal
Income
Down
Washington, Jan. 18.
The Government reported Jast
cember.
It was the fourth monthly decline.
straight
But the Commerce Depart- ment report said that personal Income for all of 1937 rasa to 343 billion dollars, an increase of 10 billion dollars over 1950, Personal Incom Includes all wages, salaries, rents, dividends and other income received by Individuals
lower to 9 Points higher..
Presiden! message to Congress, recom-mobile. mending lower prices supports Unilever, up 1/6, and Tumover night that falling wages. and increased acreage allotments, and Newall, up 17~.
Ealaries, and divkienes chopped dominated market Interest. The There was a group bidding | $2,500,000.000 from the annual President said cotton supports strongly for German Municipal | rate of personal income in De- should be based on average bonds with prices going up £1 quality cotton rather than on or £2 and the Berlin assentod up the present middling 7/8 Inch 2%. But the ordinary bonds basis. The suggested change
were Idle mad unchanged. would mean lower supports on Japanese and Chinese Were lower grades.
also tale. Technicions thought the Oils were very strung with market's nervous netlon re-Royni Dutch up 10/-, Shell up flected the comparative abance nearly 4/- and British of standing orders on elther Petróleum up 3/3. The new side of the market, Traders B. P. debentures tose 4 to 4 have operated with caution premium, recently while they analysed Copper suffered from the the farm legislative possibilties. American discussion of an im-
Desplie administration re-port duty on coppers,
Altogether an indecisive, day, commendation for lower up- ports, some quarters doubted United Pross. whather any new legislation enacted in time to would be affect the 1958 crop. Morever inflationary implications drawn from the recent budget message, and the stock market margio requirement reduction, made
the situation "rather iffy" one observer commented.
Washington news obscured inture in other influences like the continue dullness in the textile market and statistical in Ruences.
Loan Impoundings for the Undertone was influenced by
werk ended Jan. 11 reached London report that Russia was
284.772 bales, the highest for a moderate buyer on nearby
ary week since the season months. Spol No. 1 Ray was opened on Aug. 1. Deducting net quoted at 20% cents.
withdrawals of 220,820 the net stock of 1957 crop col-
SINGAPORE
bales,
The market was lower at theen under loan totalled 1,950.- opening on overseas advices
910 bales against 3,877,085 bates and eased further on stale bull
last sezon. ilquidation.
May
At lower levels there was Month some heavy short covering with March the market closing alightly be-ly 414 low the best of the day. Prices! October 62% No. 1 rubber per 1b. Fen: 774 December 774 Mar: 7712-1724: No, 2 rubber March... per lb. Feb: 70%-7114: No, a rubber, May
4591
per b. Feb; 75-10; No. 4 rubber Total
per la Feb: 1224-7315; Spot rubber unbaled: 71-7731: Flankel erepe: m-tu: No. 1 pale crepe: £2-21.
LONDON
The rubber market was steady with spot quoted l 23-3/16 pence per ib. Prices: 331% NB. 1. Nha abat 7337 Settlement house term
2311-2344
2011-23
237; 23%
24-24 241-24
49-1 General markets, cif insis, port:
eni Feb.
Mar
201
Apr Munc
637 | Júty/sept.
ERAL | Oct/Dec.
Jun
13
Feb.
South Puerta Rea Sugar
Mar.
Estate erpe til Feb
Southern Co. (The)
20
Estate crepe thick Feb.
443.23
Southern National Das
357%
AMSTERDAM
Southern Railway (Com.)
30?
104.13
Standard Batta
125
15 es
71.30
Stendard Oll of N.3.
100.02
Steep Rock (Toronto Exge.
06,43
per kilogram, eit Feb. as follows:
Commos future prie index ..
185-07
Stering Drug_Co.
30
Stokely Van Camp
150
Mio. 1 rubber
2,23 num.
No. 2 rubbor
221 pair
Studebaker-Packard Corp.
No. 3 rubber
2.10 noin
Sunshine Mining
Nal
Spe
Swift & Co.
34
2.45 not. Uutted Pr
Текая Со
014
Textron Inc.
Tido Water As, Oil
3 industrials
ralla
3 *tock<
40 bonds
Closing Prices
Alden Inc. Acy.
Allied Chemicals
of
Prices were mixed with
distribution fairly even
Allis Chalmers gains and losses which, how- |Am. Brake Shoe ever, were mostly fractional. American Airline
Am. Cable & Rudo Corp.
Alter a quiet start Hotels American Cyarami Co. turned out to be one of the Am. de Farch Power
Ain, Gas & Electric
right spots and in some fairly am. Mach. & dry. aclave trading yesterday, they
Time Inc
Twentieth Century Fox Fin
B.S. Foll "E"
Union Carbide
Union Oil of Cal,
Union Pheifle Ballway
United Gas Corp.
U.S. Cyprum
U.S. Line Co.
US. Rubber
U.S. Smelting
2715
Ainerican Tol & Tei. American Toh. "D" (Anne.nda tupper
17075
US. Sleet..
Warner Bros.
Westinghouse Electric
Westem Union Tel. Co
403%
American Metal
Am. Sugar Res.
closed with unsatisfied buyers |American dinerting at $16.80, a gain of approxi. mately $1 on the week.
Trams were alto a firm spol and advanced BD cents to Armon Steel $21.30 under steady demand Arno
| Atlas Cona Mining The rest of the utility section | jüäldwin-Lima-Ham. were steady with Telephones Baltimore & Ohio
and Electrics tacking on small ERIUS.
In spite of the slight increase
In the final dividend, Mong- kong Bank shares wers shade Jower and likewise Union Insurance.
Wheelocks showed some lin- provement on the annouizce- ment of a similar interim dividend of 371⁄2 cents but le business transpired,
Elsewhere there was illo change and this applies also to the rubber section.
Market Diary
Bondix Aviation Corp.
| Boneficial Finance,
Benguet Curia,
Bethlehem Steel
Boelig Airplane Borden (Tha) Co. Barroughs Add Machine Campbell Soup Co,. Canadian Pacife Case (JL) 0. CAL Tractor Celanese Corp. C.IT. Financial Corp. Chase Manhat. Dank Chrysler Motor Cluett Peabody..... Colpato Palmolive Co. Colombian Carbon Co. Commercial Credit .. Consolidated Edison Continents! Oli of Del. Crown Zulierbach ́. Cutan Amer.. Bugar Diamond Alkal Diamond Aatch Co.
Here is a market diary of the Douglas Aircraft
week: Friday:
Exchange Rates Monday:
Dull and less, T/O: $272,000,
Dow Chemicals .......... Dupont de Nemours feature-Eastern Atrilne
Eastman Kodak XI P National Ga Quietly steady. Family Finance Corp. T/O: $473,000. Firestone Tyre & Rubber
Ford Motor ... Movement a few and small, T/O: 6530,000. 15.10 Wednesday: Quiet conditions.
T/O: $200,000, Little Interest, T/O:
$580,000.
the local Tuesday: Byxinete, was done in unobtclai exchange markets tile morning at the following raton: US dollar (per $1) glum Bierling notes (per #1) ................. Australian notes (per £1)
Indonesian rupiah (per 100). Thursday: diam trosi (per 100) .... Bingapore (stralia)
1
General Electric Generat odda General Motors
Gan. Pats Uni
Gaity Onl
Clifton Co.
Goodrich [D. F.) Co. Goodyear Tyro Gulf bl...
91%ד
West Va. Pulp & Paper Woolworth
*1
Rising prices during the year meant that only part of the increase ?n perx1rr1 income added to individuals purchasing power.United Press.
P.OBI EA
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Outwarda
"SINGAPORE" Salled 11/12
Yolume 13,000
Open interest
110,000
10,400
M3.200
"CANTON"
Saited 7/1
12,200
217,GUO
*
"SOUDAN"
Salled 11/1
12,000
163,200
6,000
70.400
44/X)
45,000
7,100
54500
15,300 1,133,500 Lates NEW YORK
"SURAT" "CORFU" "KARMALA“
25th January
*
Homewards "CARTILAGE"
"CHUBAN" "CANTON" "CORFU” "SURAT 2: "CARTHAGE"
14 March
March Both 14th April
Prices of cotton futures closed today as follows:
Spot: 16 AL: Star: 3525: May: 3347 July 25.33-34; Oet: 3437-B0; Dee: 34.41; Mar: 3428; May: 34.00; July: 33.33
NEW ORLEANS
Prices of cutton futures closed today as follows:
Spot: 34.70; Mar: 35 25; May: 2540; July 25.53 Oct: 34.37; Dec: 31.42; Mart 121; May: M27; July: 33 49.
LIVERFOOL
Cotton
future closings,
Die Houskour
zis January
8th February
Pth FebruaY
*15th February
Leaves Hongkong
19th January 30th January Hit FelrusLY
23rd February 11th March
10th March
341 April
Due London 17 FebruaTY 27th FebruRTS 14th March 14th April luth May
th May
Via Spare, Penang. Colembe, Bombay, Aden & PL. Said * "SURAT omits Colombo & Bombay, calls Genoa & Marielles & extends to Hamburg, isiterdam Antwerp,
BRITISH INDIA S.N. CO., LTD.
*
*
in
+
"SANTHIA" due 30th Jan. Balls Dirt Jan.
"OLINDA"
The rubber market was chill.pence per lb. were as follows: 401 Prices closed today in gulders
United Press.
London Metal Prices
Old contract:
Mar/Apr: 30.70; May/June: 26.48; July/Aug: 20.73; Oct/Nov: 20.76: Deerinn: 20.71.
New contract: Mar/Apr: 27.23; May/June: 7.48: July/Aug: 27,65 Oct/Now! 27.71; Dec/Jan: 27.06.
SAO PAULO
FARM MACHINERY today.
EXPORTS BY BRITAIN
London, Jau. 16. Britain exported more farm machinery in 1957 than ever before, according to the AKI- cultural Engineers Association.
An announcement said that last year Britain was in danger of losing her lead in this field to Germany. The position hud how been reversed.
London, Jan. 10. Prices of metals closed today in sterling per long ten as fol-millon the lows:
Tin mot
גנד
Quotations were unavailable
In the
* United States, the average price of one-inch cotton al 14 designated spot markets was 34.86 cents.
Total sales at theso marketa were 22.343 bales... United
Prcsy.
US Production Index
Washington, Jnn) 10. The Federal Reserve Board's index of industrial production is 130-United Press.
Britain's 1057 exports of farm Agreed Merchant Rates machinery were valued at over
£00 milion, as ngalnat £70 Canadians: Maximum Selling previous year and 17; Minimum Duylog 17% T/T, one at a half million sterling } 17-5/10 0/D, '\ in 1930.
A home market of £60 mil-
lion sterling made a total sales production of
Buyers Bellers
7301
3-month
713
Серрет кро!
B-month
115
its
£168 milion
Lead 2nd half Jan.
2011
Apr.
7134
71 sterling in 1957.
Zine 2nd half Jan.
Apr.
01 1 . United Tra
NAMESAKES
Answers:-1
Judgement,
Total export sales of well Compose, 3 French, 4 Latin, Cover £80 million sterling were English, a Poetry, 7 Writing, 8
anticipated this year, -- China Chaucerian, 9 Moral. Mall Special.
New York Metal Futures
New York, Jan. 16. Prices of metal futures closed |today. In cents per Ib. as follows:
Lesa Juni 16,bibi Yeb: unquoted. Kine Jah: 8.2ib: Tah; unquated. Copper fan: cfotby phi untube.
Jan: 60.10; Yeb; unquieto United Press
John Gower.
SHIP
BENDLINE
dae 10th Feb sals ink Feb.
"SANGOLA” due 14th Feb. sails 18th Feb.
•
from Japon
for Singapore, Pengu. Ilangoan & Calgutts
from Japan
for Singapore, Penang.
Colquita
Rangoon. Chittagong
from Caleuita. Rangoon, Penna & Singapore for Japan
P. & 0./B. I. JOINT SERVICE
In Port A-A "ISMAILA" alle 13th Jan.
"ODHA"
LITAURA”
Frati Jabon
for Singapore, Bamhov, Karachi Kowalk, Flauroh, Khortomanisht, Duball & Dipseal.
Diy Port K/W Ne, I from Karachi. Rombay,
minhtri singapore
kaite Ath Jan.
The 28th Jea.
solis 29th Jan.
“IKAUNA” due 14th Feb,
all 18th Feb.
.
for Japan
Team Icaraani Rumbay, Cochin Singapore for Jenin
from Taman
for Angwoort, Penang, Corbin. Hambay, Karıs Museat. Kowalt, Daurah & Khorrainshahr
EASTERN & AUSTRALÍAN 5.5. CO., LTD.
"ARAFUNA”anils 3rd Feb...
"NELLOKE" d«?
rey Labuan. Sandakan. Brisbane, Sydney, Ada!- aide & Melbourne
tram Australia
All vezjelə have liberty de vell at any ports an or off the route & the rente à sailings are subject
to change or amahément with or without notice,
For full particulars apply, to MACKINNON, MACKENZIE A CO.
U HONG KONG LID Telephone Nos 27721-4