THE CHINA MAIL, FRIDAY, JANUARY 24, 1958.
TRADE and COMMERCE SECTION
Page
DISCOUNT A Gloomy
LITTLE MOVEMENT ON MARKET RATES
NEW YORK RUBBER MARKET
New York, Jan. 28. Rex rubber futures closed 10 to 30 points today on sales of 32 contracta.
Jan: 20.35; Mar: 20.50; May: 20.90; Jun 21.65 Sept: 23.05; NOV: 27,05! Standard contract closed 10
to 30 points lower with no sales reported.
Jan: 2035: Mær: 2050; May: 20.90; July: 20.03: Sept: 2795; Nov: 27.03; Jan: 27.03
Prices cased in a small make!, reflecting the continued ab.one
interest in of consumer
the
clomestic market. Shipment <fferings were moderate.
Reported sales included smal, Imounts of one sheets out of done.is, Jan/Feb. thipmest 20 cents eat and freight, Spot No. 1 Rss WDO DÙ I st 2012 conta.
BINGAPORE
Prices were down slightly at the opening and thereater
ruled quiet and featureless with ittle inclination to trade.
I
in
There was small interest lower grades and factories were amal buyers. Future closings
were:
|_ No. 1_rubber per lb. Feb; 779-779%; Mar: 174-77KI NO. 2 rubber per lb. Fob: 751-7544; No. 3 rubber per b. reb: 7233-2299; No. 4 rubber per 1. Feb: 09-12-20f); Spat rubber unbated: 774-77 Dlanket crepe: 882-7015 No. 1 pale cropā: 8215-8435.
LONDON
Hongkong Hotels Still In Steady Demand
By A SPECIAL CORRESPONDENT.
The Hongkong Stock Market was quiotly steady this week with little movement in prices of the majority of stocks.
HONGKONG
STOCK
EXCHANGE
Of the 24 shores listed in the table, 12 of there had unchanged prices from last week. Or the remaining number, seven closed the week higher while the other Ave stocks closed lower.
Last week the tally was 12 higher, seven unchanged and five lower. Turnover for this week was down slightly to $2.07 Oullion compared will $2,13 million last week.
Hongkong Hotels were still in steady demand this week with the price rising gradually under Our Own Correspondent constant pressure. They closed yesterday at $16.30, a gain of Business done on the Hong-} 50 cents on the week. kong Block Exchange Uris Provident tacked on another moning amounted approxt- 30 rents this week to close at
Noon quola- $12,20. mately $424,000 tons and the morning's trans- allons were:
Shares BANKS HK Kank
Wheelock
The rubber market was dull and easter with Spot No. 1 Rss K. Wharf
quoted at 22% pence per 1b. Prices:
1erm:
No. 1 Ras spot: 2011-29.
Teb: Settlement homia 2244-23: Mar: 23.23% April/June: 23-2014 July/Bept: 234-234 Oct/Deel, 2314-2331.
General markett, eif hash, porta: Jan: 2 buyer: Feb; 221;-23; Mer: 22-23 Estate erepe thin řeb: 24%; thek Feb 24
AMSTERDAM
The rubber market was easy today. Prices closed in gulders per kilogram, clf Feb. as fol- lows:
No. 1 rubber No. 7 rubber
No. 3 rubber
No. I crepe
2.22 paid
220 noin.
2 13 Roth. 2.40 pald
-United Frem.
LONDON STOCKI MARKET
London, Jan. 23,
Stocks were mixed on the London Exchange today. Trading was dull. Industrial silocks savoured the upside, with a low issues
up
but stilling.
ני
.
$22
Buyers Seller
Bajoy
2.50
840
100
35
to
INSURANCES
nion
73
Lombard
SHIPPING
Mu
0.40
0.05 2000
DOCKS, ETC.
Dock
12: 005%
600 @
100 k
100
18.10 13.30
1120 11.60
***
Provident,
(0) IN LAND, ETC. Nik fötél, 18% 18.70 1000 → 1811 500 VF 10.0) IK Land
HUNDER Alg That UTILITIES Туат
1.30 1.325 10,000 1.20 1.30
33
1.30
Star Forty. 122 Youmal!
13.00 24.30
124
500 24.20 1100 24.20
C. Light
(0)
M
100
16.30 160 2700 10.80
.. 20.40
20.11 26.20
2020
1100
300 3000
20.0
500
20.20
14.90
300 0
100
16 40
500
10.30
.12.20
1100
12..30
1000
15.30
COTIONS Textiles...
455 40 LANEOUS
18.50
3.50 5.74
1.30
4.65
250 18.70
Fleștele Telephone
INDUSTRIALS
**
Cement Co. 34.00 норе Amay Can. STORES, ETC. Diatry
.....18.20
Walion
MISCEL vibro INVESTMENTS Vangtze บก. W. St.
Sungala
1000
seling Exchange Rates
Oils ran into some WILD Royal Lulch down ú shillings, Shell 2/0 and others around shiling,
British Government bonds mel support and tacked on gains ranging from £1/10
£5/10. Foreign bonds were un changed.-United Press,
YOUR
כע
Banks were agal soft losing $7.50 in syntpathy with their London registered shares.
In the utility section there was the movement,
Restricted
Here is an Ic House Street observer's account of the maritet: With the Stock Market will lacking Interesi, budness eon. tinues to be on a restricted sesle with a slight reduction In the overall turnover which barely exceeded the $2 million mark,
A tow counters however, showed further Improvement with Hotels prembient under steady support. China Pro- vidents, Lands, Watsong and Yanrtsxes tacked
Knall gains.
ON
In the utility section priors were virtually unchanged with China Lights, Electrics, Tramp and Telephones in fair de- mand.
In the heavy class shares, Banks and Unions found tile
support wit)
former foring ground in sympathy with the London register shares,
Elsewhere there was little change with dealings on a Bight scale.
Rubbers unchanged.
were quiet
Market Diary
and
Here is a market diary of the week! ifay:
Turned dull. T/O; $360,000. Monday:
done in the real Buninos was unnitlelal exchange markets
this Tuesday: morning at the following rates:- US dollar (per $1)
5.08 Sterling dates (per 21) Avetrolien netes (per £1) Indonesian rupiah (per 100)
tem (per 100) Singapore (Straits)
NAME SHOULD BE
HERE
30/6/1958
Tombard
YOUR MONEY WILL EARN
8%
INTEREST with
LOMBARD BANKING
A Bank Deposit Account with Lombard Banking is accumulation without speculation. There is no risk when your money is in the Bank.
Group Assets Exceed £18,000,000
Ask, the Manager of your local Branch, or write to the General Manager, at Head Office for your cogy of "Bank Deposit Account" Booklet No, AO34. It will wooplain how rums of £100 to £150,000 seen consistent interest is assured security with, Lombard Banking.
0% beerkat maksar dilection of Chand Khadem hcome ite
LOMBARD BANKING
LIMITED BANKERD
Hood Cyber LOMBARD HOUSE CUREON STRERT, PARK PANENKOEDONG, WA Belitches and Agella khelligkola za Maria
Que dealing. T/O: $508,000,
The Share Market At
Glance ✰
Up or Down
HK Bank Lombard
Deo 19 810
Unton
130 70
Jan 2 200
32/b 78
Jan D NDU
3244b
Jan is
Jan 23
BAT
840
$7.59
83
330
stoady
760
740
740
steady
Wheelock
0.40
6.50
0.45
8.451
0.455
steady
HKC Wizart
115b
12A
120
121.
121.
steady
HK Docks
6161
091b
50b
steady
Provident
11.50
11.901
11.65m
11.90
12.20
+300
NK Hotels
14.70
15.10
14.90m
15.80
16.80
4500
HK Lands
$24
82
3231
+250
JK Really
1.826b
1.34b
1.85b
13in
1.35m
steady
HK Trams
22.40
ESD
232
24.30
24.80
steady
Htar Ferry
1250
1250
1250
1250
124
Yntimafle
04%
0534
#3
Ch Lights
10.99
17.20
16.00
17
16.99
-100
Electrica
26.50
27.30
20.70
28.80
26.03
+100
HK Telephono
25.10
28.50
25.70
26.10
26.20 +100
G.I. Cement
26.80
25
201
.25%
24.60 -100
Dairy Farm
15.80
16.25m
10.00
18.00
10.50
steady
11.701
11.70b
11.70b
11.80b
12.10b
+ ne
5.35n
6.30
5.3031
5.35b
Allied
9.700
3.200
3.676)
3.6750
6.55 3.0751
+200
steady
HK & FE Inv
0.70
9.00ra
0.90m
4.659
4,575
4.55
8.50bxd
8.50b
8.60
10n
4.558 8,40b
10
steady
4.550
steady
A.8. Watson Yangstze
Textile Corp
Nanyang
THE NEW YORK
STOCK MARKET
New York, Jan. 23.
Stocks registered an irregular advance in a quiet, Individual issues in narrow market today. the rails rose fractions to a point in Atlantic Coast Line to lift the rail average slightly.
industriais got a lift from gains of more than point in Eastman Kodak, Du Pont, |Chrysler, and Johns-Marville,
of
slibres Jell Соррста fractions to more than a point in Kennecolt, Building shates moved higher Llong Johns-Manville,
with
more
Ingersoll-Randi Inland Steel Cu, Interchemical Corp. int't Businesa Machines Int'l Harvester
International Nickel
Internalinoal Pabor
Lat Toi & Tel
Kansas C. Fower & Light
Kennecott Copper..
Liggett Meyers Tob. Co.
Lockheed Alrezari
Low Incorp... Lone Star Cement Co. highs. Lowenstein & Bona
McDonnell Aircraft
*Stock Exga.) Mesabi Itun Corp. Linnesota Mining Marion Development Moneante Chemical Co.
Tobaccos rose to new
Jost General Dynamics than a point and Unlied au- caft a traction in an otherwisc Steels nigher nirertit section. firmed. Wilcox rose nearly 3 points in a irm off department.
in
Montgomery Word Motorola Inc. National Cash Rez. "'A' National Dairy Prod. National Lead
Natonal Steel Corp. New York Central
Rails managed to register a smal average pain despite an other year-to-year decline car loading.
Utilities dipped Norfolk & Wertern ty slightly on profit-taking.
The main 1st generally held in a narrow runge while etange; centred on
special issues,
Olin MazeEMOTI Out Elevatora
wen-Illinois Glass
31
8.40
500
steady
NEW YORK COTTON MARKET
Now York, Jan. 23.
-
REDUCED
Washington, Jan. 23. The Federal Reserve, Board announced today that six mbre of its banks will docrouso their discount rato from 3 to 24 por cont tomorrow.
It said the banks are in New York, Cleveland, Richmond, Chicago, St Louis, and Kansas City.
The Federal Reserve Bank in Philadelphia made the cut carlier this week.
Banka till using the 3 per cent discount rate are at Dallas,
|
Prediction For Burma
Bangkok, Jan. 28.
U Aung Khin I, Burmese delegate to a United Na- tions trade meeting, sqld today Burma's trade prospects for 1958 did not appear very good.
U Aubg, Buliese Commis- sloner of Customs, was a dress- ing the committee out trade of the Economle Commission for Asia and the Far East.
San Francisco, Boston, Alanta | He said it was feured that and they are expected to adopt there would be a
ellino in rice exports due 10
the new rate shortly,
serious de-
canwhile, in "Amsterdam," | drought which might adversely Holland, It was officially affect development and import.
on-
noureed, the Netherland. Bank | programmes, lowered the discount rate by a gif per cent, starting on Jan. RA.
The discount ra'e will be 4 per cent starting tomorrow -Unlied Press.
New York Foreign
Exchange
New York, Jan. 23. Closing rates were: Canada
1:02 1/32 Others unchanged United Preas.
NAMESAKES
Answers:--1 Elizabeth, 2 Entertains, 3 Volpone, 4 Sejanus, $ Humour, 0 Catiline, 7
Cotton futuros today oper- Alchemist, 8 Comedy, D Every-
ated on an irregular down-mar grado for the third session In a row.
Losses ranged up to $1.50 a bale before the market deve- loped any tallying power,
After extreme losses up to 312 30 points, the market closed:
2016 net
12 to 24 points lower. Opening prices were off 2 to 14 points. New Orleans closed 19 18 to 24 points lower, 70%2
715
30
Establishing the lowest lovel in six weeks, apel March con-
34,81 cents tracts touched
pound to show cumulative
JORA
a
of 194 points-$9.70 bale-from the season's high of 36.75 cents mude on Dec. 10.
Sagging tendeneles since mi- December reflected: 1. Hedging grst previous purchases ou of the government stock; 394 The resultant increase
(Am
21
ik
62
81% cotton; or
Bea Jonson,
*
2.
*
in the
Da "free" supply of good grade
15
50% the
outcome
Unpredictability of
of congressional action on farm legislation. Pro-
$2 longed textile market
dullness
business recession talk also dragged on prices.
Oxford Paper Co.
ZTIM
the
Pacific Gas & Elec.
the
Pan American Airways
14
3314
and
Paramount Pictures
Parko Davis Co.
$51
30% supply
00
Of 1,120 Issues traded, 574 were higner, 314 lower and 241 unchanged.
Penny J. C.. Co
Penn. Salt Co.
Procter & Gamble Co.
Pittsburgh Plate Glasr Publicker Industries Pure Oll
Exchange volume Radio Corporation
NY Stock was 1,500,000 shares.
NY Stock Exchange volume was $5,000,000. American Stock volume was 600,000 shares.
Dow-Jones closing
No material change. T/0: $477,000.
W_N
15 32 Wednesday: Dull and feature- 12.67
Jess, T/O: $257,000. 1713
Light scale trading. T/O: $423,000, 181
27.60marsday:
New York Sugar Market
Now York, Jan. 23. World No. 4 sugar futures today closed unchanged to five points lower with salos of 341 contracts.
30 industrials
20 A+E
stories
15 titles
40 bonde
Radia Corp. Pref. Republic Bical bond Reybolds Melal
Sears, Roobuck & Co Shell Oil Co.. saint Reg Bindiair Oi
Paper
Additional March liquidation pointoj up the moderately large of certificated
***These programmes may therefore have to be reviewed in the light of prevailing, cli cumstances," he said.—Reuter.
London Foreign Exchange
London, Jan. 23.
Closing rates were
New York
Montreal
Amsterdam Brutis 4) Copenhagen
Frankfuri
Miles ...
Peris
Stockholm
Vierum Zurich
#2.817/18-2.813h 2.78-8.7811 19.8834-10.2831 139.06-130.65 14.5534-12.30 31.40-11.781% 1751-17574 117-11781 14,5938-14/403) $1.00-12.05 1.30-13.245
Other unchanged-United Press.
P2O B⋅I
E
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Outwards "CANTON" "SOUDAN"
"BURAT"
"CORFU”
"KARMALA” "CARTHAGE"
Bomewarda "CHUBAN"+
coltant
"CANTON"
and the possiblity for contract 71 lenders.
programme for the next market-
ing year, starting on Aug. 1, dis-
closed at the recent
Senate
agriculture committee hearings,
News of un
31%
administration
30%
plan for a new cotton subsidy
7315
314
28
Exchange
4
came
Iri for more attention
averages
Socony Mobile
today.
Bolar Aircraft
191
While details have not been
South Puerto Rico Sugar
Southern Co. [The]
worked out, department oficials
Bouthern National GT
50
100.69 Houthi Railway (Com.)
20
45%
Standard Oil of Ind
EZEN
155,45
Standard Oll of N.J.
Steep Rack (Toronto Exge.) Sterling Dug Co.
50
20%
Blakely-Van Camp.
Studebaker-Packard Corp.
Comm. future price index ..
Closing Prices
Alden Inc. Acy.
Als Chemicala Allied Mills Inc.
Allis Chalmer
American Alrilne Ainican Cyonemid Co Amer. Fern, Power Am. Gas & Elcetrie Am Mach, & Fury. American Melal American Bine,ting Am. Sugar ROL American Tel & T American Tob. "D" Aneconan Copper
Armour...
The domestle No. fi contracte Steel glased 1 point higher to 2 points Atlas Comi. Mining lower with sales of 300 con- Baldwin-ma-llam.
tracts.
Baltimore & ONIO Beneficial Finance Easiness in the world contract | Bendix Aviation Corp. reflected higner European best Benguet Cons crop estimates and large-scale Russian purchases of Cubans at lower prices.
lehem Steel Being Airplane
Borden (The) Ca, Hurrenglu Add Machine Campbell Soup Co. The Soviet, in addition to Canadian Paciße R.
100,000 tons from the Cum (JL) Co. buying Cuban Institute at 3.05 cents a 2. Tract's pound, fob, has an option to buy | die Financial Corp. unother 100,000 tons at Logollated price.
Celance Corp
Chase Manhat. Dank Chrysler Motors
In event of the second sale, Crate Palmolive Co traders understood the price on Colombian Carbon Co. the first 100,000 tons would Cominereal Credit
Commonweals ELEA. move down to, 3.63 cents Conpollasted Balkon pound
Continental Oll of Det. Meanwhile, Egypt set Satur-Town Zeilerbach
lender date for Diamond Al.....
Cubah Amer. Sugar day as a new the purchase of 65,000 tons of Diamond Match Co.
Dou dae. Aireract
Dow Chanickia
Jaws.
Contract No. 4 (wortα)
Dupont de Nemour
Mar
May
371
Kašlėm. Alrijne
July
2.73
rastown Redak
Baxt Oct.
3.71
El Paso National__Gips
3.09.
Family Finanov · Corp.
Spot-(bent the Ib. fo
Firestone Tyre, & Rubber
2.73
Ford Molar
Open Intergat: 0.25€ contrecht.
Contract No. (domestic)
General Mectric-
deberei Foods,
Gm., Pub. 175.
BUY
Dept.
Gliddin Co D
μου,
Spob-tcenti per 15, df
Gineral Matery
Dotty Off
Goodrich (is.) Co.
Stogdreer Tyre villike and ou
Open Linierest Kita comixãole - Hayden Newpoft Corp.
Homestay Mining Co.
71.30 Standard Branda
162 08|| Standard Oil of Cal
Sumihina_Mining
1715 Bwift Co.
indicated the programme would
pay a cash, or kind subsidy, to,
It would re-. cotton exporters.
place the present plan of selling government stocks to exporters. Ginnings of 10,032,010 bales through Jan. 18 proved larger than expected and Indicated the government's December crop balca estimate of 11,101,000 would be fulfiled,
Volume Open interest
24,500 12,00
30,000
302,000
TA
Texas Co.
3414
Textron Inc.
Tide Water Aan ol
Month
173 Time Inc.
March
21544
Twentieth Century Fox Film
May
12
Union Carbide
Union Dil of Cal.'
July
Oct.
Union Pacific Railway
Dea.
15,900 B3.400
United Alteraft
Mar.
0,500 7,000
314
Untiedt Gas Carp
May
0.800
60,000
July
GOU
4,5X3
U.S..Fol "B"
US Сурга
1. Line Co.
48. Rubber
US. Emelting 17.5. Steel
1334
Wrrber
westinghouse Electric
Western Union Tel, Co. West Ya. Pulp & Paper Woolworth
Uslied Press.
London & Now York Silver Prices
New York, Jan. 23, Handy & Horman, bullion denlers, today quoted the
price of sliver off cani
ut
Total
12,000 222,500
10,000 109,400
104,300 1,172,800 bates NEW YORK
Cotton futures prices closed today in cenis per ib. as follows: Spot, 34.10: March, 34,80; May. 33.00; July. 4301-62: Oct.33.00-011 July. Dec 2477 March, 33,00; Bay. 53.10.
NEW ORLEANS Cotton futures prices closed today in cents per lb. as follows: SPUL Y Det. HER Dec 03 March, 34.83; May, 33.01; July, March, 33.861 May. 33.86: July, 33.67 LIVERPOOL
Cotion future closings, in peace per lb,, were as follows: Q14 contract: Mar/Apr: 25.663: May/June: 25.00-10: July/Aug 2023; De Nov: 2047: Dec/Jah! 20.47.
New contract; Mar/Apr: 20.00:
BIT 20 cents a fine ounce. This May dune: 71.63; July/Aug: 2733; represents a total drop of « | Oct/Nov: 77.48; Dec/Jan; $7,47, cent beluding the last change on Jan. 15.
B014
Normal supply-demand fac tors are said to be behind the drop.
In London, spot silver held 1835 unchanged at 77 pence-United
30012
BAO PAULO
Cotton future, closings, were all unquoted.
in the United States, the average price of one-inch cotton at 14 designated spot markets was 34.82 cents.
Total sales were 81,273 botes. |--Unlied Press,
SHIP
BENDLINE
*
*
*
"CORPU"
"SURAT
"CARTHAGE"
"CHUSAN”+
Lever London Due Hopakov
Baled 7/1
Balled 11/1
2017 JustinEy
5th February
Wih February
sti Mar.
Leaves Hongkong
30th JanuEIT 11th Tobituary
4th Februa
23rd February
11th Mar
10 March
8th April
7th April
Due London 17th February 34th March
14th March
14th Apel
30th March
19th May
11th April
12th Max
20th May
28th April
Via S'pore, Penang, Colombo, Bombay, Adm & PL. Kald
• “BUDA** omits Colombe à Bombay, calla Gabon à Marseilles à aziende to Bamburg, Molterdam & Antwerp.
† "CHUSAN" also calla Marseilles,
BRITISH INDIA S.N. CO., LTD.
"SANTILLA” aut moth Jan. walls 3123 Jan.
"OLINDA" dua 10th Feb. salis fith Tab,
"SANGOLA" due 14th Feb.
saži 15th Feb,
from Japan, for Bingapore, Penang. Hangvon Calcutta
from Japan
for Kingapore, Pinang. Bigcom, Calloutle
LAIKRODE
from Calcutta, Rangoon, Penang singapore for Japan
P. & 0./B. I, JOINT SERVICE
due 30th Jan.
BARI ZA Jan
"ITAURA'
“IKAUNA"
due Bath Feb, units Toth 2.
-OBRA"
“UMAKIA” due 19th Feb.
ually 21st Feb.
due ih Teb. due 2nd Mar.
"URLANA” sails 2nd Mar.
ated Mar.
from Karachi, Bombay, Quenin a singapore QUE JADAG
Jom Japan
for bugupore. Pinang, Gvchin, müziDAY, KATA, COL
Kuwait adway Basrah di kadoersink hr from Karachi, Bombay, Cuchin a kingapore Aur Japan
from Japan
for Dingapura, Bombar, Cochin se bhavnagar
from Karachi, Madras, kanang a bugasure for Japan
EASTERN & AUSTRALIAN 5.S, CO., LTD.
"ABAFURA”shila 3rd Feb.
“NELLORE” dut, sib Tab.
for Labuan, Bandakan,' Házisbane,, sydney, Adel- side at Melbourne from Austrália
Alt vessels kavo zwarty to call id any ports on
or élf the route si iis resté a mitings are iubject
to change or amendment with me without notice.
For full parlieuters apply to : MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos: 27721-4.