THE CHINA MAIL, FRIDAY, FEBRUARY 28, 1958.
TRADE and COMMERCE SECTION
Pago 0
MARKET HAS MILD BOOM The New York
NEW YORK
RUBBER
Hotels Start
MARKET Chain Reaction
New York, Feb. 27.
Rax rubber futures today
closed 25 to 34 points lower with sales of 69
contracts.
March
May
July
Bapt.
Nov.
MAT.
26.40 26,70 26.03
26,03
20.02
26.03
24.05
Standard contract closed 25 to
31 points lower with
reported.
Marchi
May
July
Hept.
Nov.
Jan
Маг
TURNOVER UP TO $5M
By A SPECIAL CORRESPONDENT
The Hongkong Stock Exchange this week experienced a mild boom which, if sustained, may be the turning point for the market.
no salca At present it is still too early to say whether the market will continue its upward trend, which is very encouraging in view of the depressed state of the market during the past year.
28.40
20.70
21.21
20.00
28.12
20.03
28.05
Around this time last year, when companies were declaring up Prices ensed in quiet dealings dividends, the market shot
was not sustained While traders awaited further but the rise
and the market fell back ond Indonesinn
political develop-
became dull and featureless for convincing ments or n more pick-up in domestic consumer the rest of the year. buying interest,
In the
The renewed interest market began on Monday when the announcement of the
increase per cent
Dealers were on both sides of the market in a small way. Some selling here was presum- ed to be on arbitrage operations distribution this year had
against London purchases.
In the shipment market, busi- ress remained light with offer- to interest ings stil too high
ont
local buyers. However, in the deliveries market locally some April four sheets were done at 24% cents and March Ave sheets at 22 cents a pound,
number Further out,
delivery Oct/Dec. shecta for were quoted at 20% bid with sellers holding 4 cent higher, Spot No. 1 Ras was quoted at 20% cents.
SINGAPORE
With slight improvement in overnenz mürkels and some re-
in Russian enquiry ported
opened London, the market higher and ruteri qulet through out the moming, and after the market steadied slightly on some reported China advices.
Purther hedge selling and liquidation Federation Goine caused the market to case back night's Bust
to inst Futures:
effect on the market.
In
Dividend
and closed $1.70 higher than the previou» weck's level.
Dairy Farms were a strong feature and in face of heavy Hiquidation on Tuesday, when shares approximately 28,000 changed hands, they actually 10 advanced by 60 cetils $17.10.
100 Hotels'
lés
Ulities were generally in good demand with Yauinatis and China Lighte showbig
This dividend of $1.50 and a bonus of 50 cents (it was $1 last year) was well received on the market, and Hotels shot up from to $10.40 on Monday
Friday. $10.00, the previous Proll-taking, however, rent the share down to lower levels during the next few days, bul it climbed back to a steady $18.30 at the close yesterday.
The lack of interest in invest- ing in real estate at the present has diverted money back into a larger the market, "causing
Ice House volume of trade In Street and prices to harden.
most improvement,.
China Providenis and Docks
xx Bank Lordbard Ubizn Wherlock HK "Wharf KK Docks
A Glance
Feb 27 810x1
*
Up dr
Cotton Market
New York, Feb. 27. Cotton futures today vigorously resumed the re- cent upswing, registering galks up to $2 á bale as all new crop deliveries swept to season highs.
* The Share Market At
Jan-80
Feb 6
Feb 13
Feb 20
Doree
8324
835
835
.835
stody
.
32b
334
3334
33
steady
70
G9b
71
70
-500
6.70
6.45x4
4.25
0.30
0,30
steady
Closing at
1201
120
118
119nd
121m
52
the day's best bet. levels the ilst showed not paina.
20,000
187,400
50,000
107,100
50
51
BIKO
8514
+*
of 13 to
Provident
12
12.40
12.20b
12.30b
12.80
+500
45 points. Opening ay prices were up 6 to 22 points, Fuly
10500
95,000
20,000
106.800
01.200
UK Hotela
£0.60
19.00
18.60
18.00
18.30
+9170
UK Lands
13
8434
34
Jay
150
New Orleans closed up 39 to 43 Total points.
14:00 1,137,000 bales
NEW YORK
IK Realty
1.35
1.358
1.356
1.35b
1.375
HK Trams
23.80
2430
24.30
24.60
+2140
24.60
stendy
124m
12413.
12436m
123
118x4
540
071⁄2
9772b
101
+$3.50
16.90
17.40
17.20
17.20
17.80
+400
20.00
28.50
28.20
28
27.80
200
20.30
37.20
27.30
27.40
27.50
+100
20
26.30
26.108
23.60
24.80
-800
16.10
16.50
10
16.50
17.10
4.600
12.201
12.30
12.10
12b
12.10
+100
B.10
0.45b
5.50n
3.800
8.500
steady
3.0780
3.70
3.675
3.60b
8.675
+7/20
101
10
10%
0.800
9.85
steady
4.575n 5.40:
4.50b 8.00
4.50b
4.55
4.65
+100
8.000
8.55b
8.00
+350
Blar Ferry
Yaumatis
Ch Lights Elcotrien
HK Telephoto G.I. Cement Dairy Farm A.8. Watson Vangisze Allled
HK & FE Inv Textile Corp Nanyang
+500
New York LONDON STOCK
The New
Stock
Market
New York, Feb. 27.
were bright spots, execially Dividend cuts and price reductions hit the copper
the latter, which were mark-
ed up sharply to $55:50 en the closing day, a gain of $4.
Elewitere enquiry wa
оп
a trhler scale and the market closed stendr and firm.
Market Diary
group today with Phelps Dodge losing nearly
2 points as did International Nickel and
Anaconda.
The best performers in the enerally lower market includ- Ed some of the steels, oils, ralls anl special issuca. Lukens stood out in its section with a
Here is a market diary of rise of more than a point. Lead-
the week:
Friday:
Monday:
Dull and featureless. T/O: $400,000.
Ulities inclined to be a shade of. T/O: $078,000. Fairly heavy selling pressure. T/O: $1,530,000. Wednesday: Prices tending to harden. T/O: $765,000.
Sustained buying pressure, T/O: $1,374,000.
The market was quick to re- | Tuesday; act to the Interest sparked. In. utilities Hotels and soon with in the lead, the whole, market began to improve.
Although sciting pressure was heavy at times, the serip was
were Thursday: 701-7015 well absorbed and prices Apr.
weil maintained. Kenerally 104-1192 Prices started to harden under sustained buying pressure later
levels:
No. 1 rubber per lb. Mar. 781-7015 No. 2 rubber per 1b. Mar.. 74945 No. 3
No. 4
"
Spot rubber unhaled....
Elanket crepe
No. 1 pale crepe
LONDON
19-13
75-76 in the week. 06-13
811-83
The rubber market was very quiet with spot quoted at 22% pence per lb. Prices:
No. 1 Ins spot
Belticment house ferm:
April
May
June
Aprit/June
July/Sept.
Oct./Dec.
227-23
23-23 23-2312 23-24 23-233 231-23 231-2313 Ceneral markets ciz basis, ports:
2214-23 March, April and May Enste crepe thin March 2412
thick March 23 AMSTERDAM
The rubber market was dull. Prices closed today in guilders per kilogram, cif March as fol-
lows:
No rubber Na, rubber No. 3 rubber
grepe
No.
2.20 nom. 2.14 nom. 2.00 nom.
3.35 nom.
United Press,
New York Metal Futures
New York, Feb. 27. Prices of metal futures closed
Good Year
A number of Issues climbed quieldly up to higher ground during the week on the strength of views th Ice House Street that if Hotels had such a food year, then other companies may have had just as good a year, und there
would
increased be dividends this year.
that were Among the issues very active during the pan few days were Dairy Farms, which rose to $17.10 yesterday from $16.50 last week: Docks, $51.30 buyers to $55; Providents, from $12.30 buyers to 512.80; and Yaumatis, from $87.50 buy- cra to $101.
from
HONGKONG STOCK EXCHANGE
Our Own Correspondent
ing steels yielded fractions.
up.
Stock Exgc.) Mesabi Iron Corp. Monsanto Chemical Co. Merdgomery Ward Motorola Inc. National Cash Reg. "A" National Dairy Prod.
National Lead Corp.
Notional
New York Central Norfolk & Western Ry. On Maison Rallway our Elevators
Con-own-lilincis Glas
Such rails as a Chesapeake & Oblo
Southern and ginged to move tolidated Natural Gas armed while Panhandle Eastern Pipo Lite felt more than a point in Standard Oil of the utilities. California and Toxas Co. arm ed in the oils,
Chemicals lost ground. Haveg, and Tennessee Pitney Bowes, Corp Armed in the specials.
The main list recoded on re- duced volume.
Of
a total 1,074 issues traded 589 were lower, 274 higher.
New York Stock Exchange volume was 1,070,000 shares
New York Stock Exchange bond volume was $3,530,000,
American Stock Exchange volume was $10,000 shares.
Dow-Jones closing averages
were!
30 industrials
20 Talk!
15 utililles
d5 stocker
43 borda
Comm. future price index
Closing Prices
Alled Chemicals
Aled My Inc.
Allis Chalme
Ani. Brako Shoe
Business done on the Heugkong Americm, Airine Stock Exchange this morning American Cyanamid Co. amounted
10 approximately At & Forgn, Power
Am Gas de Electrie $128,000. Noon quotations and
Am. Mach. de F“dry, the morning's transactions were:
American total Am. Sugar Rel. Amertoon Tet & Tei American Toh. "B" Auconda Copper Arzneo Steel... Armour
Alten
BANKS
3
In the cotton section, Nanyang HK_Bask tacked on 35 cents to close at $8.00 while Textile Corporation SILIPTING increased ten cents with sales. Waterboat at $4.05.
The turnover of 15.01 million was the highest this year with two dally turnovers of over & of a bullish million. A sign market was in the tally, which was 14 higher, six steady and
Wheelock
Buyers Bellets
POCKS, ETC. K. Whart. Dock Provident,
today in cents per b. as fol-four lower compared with eight 105 Hotel,
XD
Atlas Con
Mining
Baldwin-Linn-lam.
Baltimore & Ohio
Beneficial Finance
Bendix Aviation Corp.
Benguet Cona,
Itelchem Steel
Bosing Airplane
Borden (Machine Burroughs
11.00 Campbell Soup Co.
810 RCO
20.60
8.25
6.30 3770 2
0.00
220
54 55.00
12.000 12.00
100
.... 11.00 11.00
300
LAND, ETC.
lows:
Lead March
May
11265
higher, eight unchanged and Land. 333 33.18 1120 eight lower last week.
Bumpyw
10.30 1640
500 @ 10.40)
200 @ 33.50
Zinc
March
14.90 16.20 Realty ....
139 140
MAY
8.35b
20.000
Cheerful
26.046
Tin
May March
ETAB
May
93.50%
United Fres
market.
Hero L an Ice House Street UTILITIES observer'a account of the Teen 2140 2400 1000 24 50
Star Ferry
хо Yaumati****
RUBBER Amaly. Trust.
1.25 3000 0 1.25
122
101
17:50
500 @ 7.50
Copper March
London Metal Prices
דולב
London, Feb. 27. Prices of metals closed today in sterling per long ton as fol- lows:
Tin apof
3-month
Buy Sellers
75993
700
Copper put
1032
1023
-month
1611%
1821
Load and helt
Pina
2nd hall
01245
-United Prem.
NAMESAKES
Answers: X Jovial, Laughter, 3 Comedy, 4 Jokes, Waters, doppieuws, 7 Entertains,
Cockney,
Police
2) Churcaong
Jack Waren
100
Following a steady open- Light ing after tie, Chinese New Year the Stock Market
bad Electic XD 1707.2013
20.40
one of its most cheerful works Telephone 27.30 27.00
for some time with the over- all turnover execoding the $5 milijati pénak.
Although the market was heavy subjected to falety
on Tuesday, relling pressuTO norip was well absorbed, with virtúnily..
roccasion prices in the heaviest day's
Ра
trading of the wock.
in
the
Having driñcome this shako- dus, buren · dominatoa marked throughout the KO- mainder of the week with příóòs, advanckig.......ón, a' wide froak
INDUSTRIALS
Atney Can $7.70
STORES, ETC,
Dalry 10 17.30 Walden
Lane, Crow 14.30 COTIONS Textiles.. Nanyang MISCELLANEOUS Vibro
4.06 4075, 5000 ©
0.00
13.30
4.09
1.00
INVESTMENTE
Invest.
Exchange Rates
Hotex shares were, Best to PROSENT,
ftioronat, in distribution to abarsholders for the yong 1957,
Canadian Pacião R,
Casa (T. 1) Co.
Cal. Tractor
Celance Corp.
C. F.. T. Financial Corp.
Chrysler Motora Cluelt Peabody ... Colgate-Palmolive C Columbian Carbon Co. Commercial Credik Common wool th Elec, Consolidated Edison Continental Oil of Del Crown Zollerbach Cuban Amer. Bugar Diamond Alkali Diamond Match Co. Dougian Airzaft. Dow Chemicals For Dupont de Nemours Extern Airline
Fastman Kodak
El Paso, National Des Family Finance Corp.
Firestone Tyre & Rubber Ford Motor ...
General Toecirte
General Toode
General MOLOTE
Gen. Pub. Um. Getty 01.
Chaden Co. For Goodrich (. .) Co. Goodyear Tyre
Gulf On
Heyden Newport Corp. Jiamostako Mining Co. Ingersoll-Itand.
Infant Steel Co.
Ict Business Machines Int'l Harvester · International-- Nfaltni International · Paper TOS) SWL ANI
| John-Manville Cas
Bure was "doesakes; the Spaak -Janaffia)
*monijork....... Chan UN following caleasa
Lingik: Mpymw z3B/:06.
10.20
Lone Star, Cement pr Lowetwtein, le Bona.
Binen tion) (E-309) discmpore. (Stratte)
3630
437 BO 102.70
12.01
140.15
120
100
word Reper Co Pacific Gas & Eice. Pan American Airways Parameint Pictures Parke Dayla Co. Penny JC, Co.
Fenn Salt Co. Philip Morris Procter & Gamble Co. Publicker Industries Pure Ou.... Radio Corporation Radio Com. Prot. Republie Steel
Reynolds Meinl ....... Sears, Roebuck & Co. Shell Oil Co...
Saint leg. Paper
glastair O
Blocery Moblinli Bolar Atecraft............. Bouth Puerto Rico Sugar Southern Co. (The) Southern Nailonal Cha Southern Railway (Com.) Standard Brands
Standard Oll of Cal Standard Of of Ind Standard Oil of N.J. Steep Rock (Toronto Exgo.) Bterling Drug Co.
Studebaker-Packard
Sunshine Mining
Swift & Co.
Texas Co.
Textron Inc.
Corp."
Tido Water Assn. Oil
Twentieth Century Fox Filin
Time Inc.
$ 70
Union Carbide
50%
Union Oll of Cal.
Union Pacle Raliway
United Aircraft
17th United Gas Corp.
70
UA. Fell "F"
12.9. Gypsum
UB. Line Co.
(34%) US. Rubber
1915 U.S. Smelling
US. Bizet
MARKET
ខ ឥ
Main price lifting power Prices of cotton futures closed again WDY generated by today as follows: possibility of an increase in soll bank funds, and congressional opposition to any administration plan to lower prico supports. Agitation aimed at ousting Agriculture Secretary Benson strengthened that viewpoint.
Market experts figured Con gress voted the additional soll bank funds, upwards of 8,000,- G06 acres may be taken out of cultivation this year.
That would put the acrenge Into around 12,500,000 com- pared with last year's harvest: ed area of 13,681,000 acres. The allotment for this year is 17,- 508,000 acres.
Old
carried crop months along with the rise aided by the lesuance of only one delivery netice for 500 bales at Char- Itston. Leading interests were 15,000 sellers of upwards of
London, Feb. 27. The market was steady to: bales in the forenoon.
day with a turnover of Month 7,787 bargains. But it was March...... still too small to suggest | "suly
a strong upward trend.
Chief stimuli came from the
rings reports of the Peninsu
lor and Orient-plus a rico in
20
322
4032
tho dividend and of Alfred
makers Herbert,
of loading machine tools, and of Hoover Shares of the arst two jumped 41- and enjoyed even then a Arm demand.
१६००
But in the main the leading were unchanged Industrlots except a few enses, up Bd. Ou shilling. Rolls-Royce gain-
1315
or s
ed
Chemicals 94.
20
309
a shilling and
Imperlai
Oils were firm with Royal Dutch up 87 (though Shell was others And the unchanged)
were up shilling.or 1/6.
Germang were pressed for sale today presumably in at tempts to take profils with Dawes Loan down £1 and the Young Loon
non-nssented and
£2 for the
£1 for the
assented. Japanese were again
ile and unchanged.
Dollar stocks were generally
44 higher with the premium up
1544
to 54 per cent.
long-
British Government dateds were strong with rises
of or 5/16th.-United Press,
SINGAPORE STOCKS
Singapore, Feb. 20. Brokers today quoted 'the
24% following stock prices:
2016 Consolidated Tin Emellers
Ord,
May
*
*
*
Volume
0,500
24,000
10,000
Bpot
Mar.
May
July
Oct;
Dec.
Mer. May
NEW ORLEANS
Pricus of colton futures closed today as follows:
Spot
Mar,
July
Dác
Mar
May July
RECARRAS
BAO PAULO Cotton future closings, in cruzeiros per klia wetu as fol-
Iowa:
Dee, 10.40: others unchanged.
The average price of one-iheli cotton at 14 desingated spot Open interest | markets were $4.50 cents,
44,000
Total sales were 22,253 bates, 308,000 228,400
- United Press.
P.OBI EA
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. C.
Outwards
"SURAT
"CORFU" "KARMALA" "CARTHAGB"
**CHUSAN"
Homewards
"Confu"
"SOUDAN "CARTHAGE" "CHUSAN" +
Leaves London Due Bongkang
Balled 23/1
20th March
Salled 1/2
10th March
15th February
Bit March
1th April 7th April
10th Apest
18th March
Leaves Hongkong Das London
14th - March 10th March
24th April
Hih April
11th April
14th May
20th Abelt
24h May
Via 'pore, Penang, Colombo, nombay, Aden a Pi, Buía. ↑ "CHUSAN" also calls Marseilės. BOUDAN" calile Colombo, Bombay, talia Marsè and
extends Hamburg, Rotterdam & Antwery.
8746
Opening
43
291% Syndicate
Batu Lintang Rubber Co. 251% Ltd. 55 Briti Borneo
$1.57
Petroleum
*
2314
28s Ed
20
Fraser & Neave Lid. Ord... $2.675 313 Fraser & Neave 1 cum.
+
"SANGOLA”due Tih bar. KAS 0 MAK.
29.
prof
6016 Commons (Balaya) Ltd. $2.30
*
17212
Wamer Bros.
10
101
Wortinghouse Electric
Western Union Tel, Co.
37
Cosing Corp.
Hongkong & Shanghai Bank-
$440 ►
"rturata đục QUA NHI
Hongkong Tin Ltd.
58 34
4311
1334
West Va. Pulp & Paper **** Woolworth
Kumpas Ltd.
$1.07
United Prem.
4136) Icuala Kampar Tin ....
Lunas Rubber Estates Ltd. 1.05 Malayan Dreweries ** New Berandah Thibber Co.
Ltd.
$3.60
Petaling Tin Ltd.
Flames Hotel **
12.60 91.76 $2.80
"URLANA" due 20th Feb,
Bingapore Cold Storage
Stratte Trading
“ORRA"
Strain Steamalip
United Engineeri
Wear Bros.
exdly: † cdcb. China Speel.
Mall
*ITAURA”*
1.01 3/10
2.81 5/16
80
New York Foreign
Exchange
New York, Feb. 27. Closing rates werei
Canada England official
+
Austraila
30-days
10-days
New Zealand South Africa ...
Indi
Pakistan
2,78
2.23
2.00 5/16
2.00 11/10
14
Others sinchanged.--United Press.
New York Sugar
Market
Now York, Fob. 27. World No. 4 muster futures closed today 2 to 10 points salto.of 8BD con-
London Foreign lower with
Exchange
Landou; Feb. 27. Closing rates were:
Now York
Muntreat Amulendum Copes Ligus 23% Frankfurt
BOR%
Milan
21 Zurich.
100
Öfkers, unchang
tracts.
Dartiestic No, o sugar futures closed today unchanged to 2 point higher with males of 18 bontracta.
Contract No. 4 (work): March, 140: May, 3.50; dept., 244; Oct. 4.81-1/16-2,8134 | 3451 Mamo, 343;, MAYA 343; 8006
ib, tob Cuba). FAR. peter0041 0.431 contrasts.
Open
Contract No.. D (domestic) - May, 400; July, Ba: Sept., 8.70: Nov, 034; Bpoc-(cante per is, cif 32 «n-duty),
"Open interent: 1,581 contracte.--- Called Press.
SHIP
BENBLINE
*
BRITISH INDIA S.N, CO., LTD.
its 11th 4.
from Jan.
for Sugapore, Penang. Bangoon,&
Caloutle
{eam Jagas for Bmpspace, Panang, Rangoon, Calcutta Chittagong
P. & O./B. I. JOINT SERVICE
'sails lat Mar.
dua Bth Mar. Walks 10th Mar,
due Bih Mar, salla 11 Mar.
from Karachi,' Madras, Penang Singapore for Japan
from Jepan
for Bingapura, Madras, Dombay & Bhavnager
from Japan
for Singapore, Penang, 230 m2).
Karachi Hash, Khoramshahr A Kuwalt
frem Bombay, Karachi. Cochin, Alleppey, Tuti porio de Bingapore for Jooen
“OZARDA” due 10th Mar.
-BRID 11th Mar.
EASTERN & AUSTRALIAN $.5, CO., LTD..
*
"NELLORE" in Fort K/W
*
Pler #
Kalle Lot Mat.
*
"NANKIN đ
Uth Man, Batis 10th Mar,
from_Japans
for Labio, `Sandakan, Brisbane By 2005 Adelaide de adekbourne
from Australia
All vessels buvo liberty to tall at any porty an `of of the route du the rotte di milings are puklost, 'tu change or amendment with or withous motico,
For full particulars apply to: MACKINNON, MACKENZIE A CO.
OF HONG KOVA 1]Ð : Telephone Nus: 277214