THE CHINA ́MAIL,
FRIDAY, MARCH 14, 1958.
TRADE and COMMERCE SECTION
PUZZLEMENT ON EXCHANGE
* The Share Market At A Glance ★
Wheelock
JIK Bank
Lombard
Unior
JK Wharf
Provident
nk Hotels
HK Docks
IIK Lands
HIK Realty
JK Teams
Star Ferry
Yaumatis Ch
Electrics
HK Telephone
G.I. Cement
Dairy Farm
A.B. Watson Yangtere Allied
IK & FE Inv
Textile Corp
Nanyang
-
VICE
---$2,80 -300
Feb 13
Frb 20
AJZ
#35
Feb 27 810xd
Mar 0
810s
Mar 13 805N
Up or
Down -$5
534
33
696
7x
0.25
0.80
70450 6.30
331⁄4n 70
33/4n
steady
71
+81
4.2%
0.10
-150
118
110m
121
121
1218
Klondy
5114
6514
64
53
12.20b
12.10b
12.80
1248
12.20
18.60
16.00
18.30
15.80mxd
35.80
steady
34
3314
33%
32xd
--650
1.35b
1.35b
1,375
1.3751
1.375
stendy
21.80
24.00
*24.60
23mx4
22.70m
-300
1244m
129.m
118xd
117
-$1
974
BT140
101
17.20
17.10
17.50
17.50
964b -$2 17.10
28.20
28
27.80
27.80
27.40
27.50
26.50xd 25.70xd
20
-800
24.00m
-800
26,101
20.00
24.800
21.600xd
21:50,
-200
16
16.50
17.10
17.40
10.70
-400
12,10
12b
12.108
12%
11.70
5.50n
5,50n
5.50n
5.508
3.075
3.00b
3.675
3.65
10n
9.800
9.80
0.894
4.506 B.50b
4.55
4.65
4.00b
8.55b
8.90
9.15
5.3% -50 3.45p steady 2,800 steady *4.GOD steady 9.1in steady
Steady Decline NEW YORK
On
Market
Majority Of Stocks Have
Heavy Losses
By A SPECIAL CORRESPONDENT
US SILK
COUNCIL MEET
New York, Mar. 13.
LONDON STOCK MARKET
London, Mar. 13. Markets were irregular and
undecided today.
The American Silk Council COTTON
MARKET
New York, Mar, 13. Final evening-up operations
an
In the earrent March de
dominated livery otherwise quiet trading in cotton today.
Spot March swayed
1 DVOT
There was an exodus from Britisiz Governments which today called for "earliest lowered them by between 3/18
Some of the lessor-known in-
possiblo" talks with the and 5/10th. Japanese to Inquire into declining raw silk imports dustrials enjoyed Fiscs of or from Japan and at the 2 chillings good profit- same time to curb rising reports. Ford Motors was over- imports of
Japanese sold and lost a shilling.
021
finished silk goods.
In oils Royal Dutch Was two down 2/0 and Shell down 1/0. Counci passed The resolutions aiming at stimulating
Germans and Japanese show- Japanese raw silk imports but ed some scattered rises. Dawes at the same time at decreasing goods from Japan.
THE big question in Ice House Street this range of $1,55 a balo while later the flow of finished silk pices Loan non-assented Jumped th
months varied way.
a little ofther
At the close the list ruled eno lower to seven points higher.
and
the Young Loan-both types rose £34. Several John Men. Sullivan, Counelt Japanese non-assenteds the President, was reported to have 1910s, the 1930s and the Tokyo
told a meeting of the Council 5% percents-rose --United here yesterday that requests are Press,
week is "WHY." Why is the market so duli? Balance sheets of many companies listed on the The market opened 16 lower to Stock Exchange have been the best ever. five points higher. New Orleans
to off three being made that the Japanese cloned unchanged
authorities concerned vids this Dividends were very good. The building points.
Interest in new crops lagged country at the earliest possible boom (which took a lot of the market's money whito traders analysed prelimin-moment to study the situation New York Metal away) is now on the downward trend. Some-ary new crop work, especially and work with representatives
spoding of the American industry.
where in the region of $100 million will be complaints of delayed
in some southern neres because
distributed this month in dividends.
all
New York NEW YORKth of these things in
The
Stock
Market
I
New York, Mar. 13.
Stocks moved up fractions to more than 2 points
in increased volume and backed away from their best levels before closing time.
Railroad
Issues featured In and reached percentage gain their best level since Feb. 14 before moeling Inte realising Them down which brought somewhat from the best.
International Nickel International Peper
Tei de Tel
RUBBER MARKET
New York, Mar. 13. Rex rubber futures today
closed 20 to 38 points higher with sales of 86
contracts.
20.05
20.00
27.00
27.03
27.00
t
of excessive reins,
activity has been in Hotels, Lands, Wheelocks and Villiities
The Market at the close was level. stili on the easy side. Was
of the market it is hard to and the reason behind the current decline on lee House Street. Although selling moderate, it was widespread nod steady with the result that the majority of stocks fell steadily during the week.
The Reasons
A number of reasons
were
Market Diary
Futures
The Council meeting was told that recent carespondence with Other traders marked Lune
showed kay Japanese officials awaiting Scnate action on
New York, Mar. 15. row silk consumption and con-
Prices of metal futures closed legislation designed to freeze farm price supports at the 1957 amplion of douplers in the US today in cents per lb. as fol-
dicreased by about 14,700 bales lows:
or 24 per cent during 1957, March contracts went off the board at 35.28-27 cents, setting At the same time Japan in- the day's lowest level and a net creased its shipments of silk loss of 34 points. Delivery pleco goods to the United States notices for 2,400 bales were in an amount equivalent Here is a market diary of the Lucu. Open contracts in March about 3,000 bales of raw skik."-
at the opening totalled 0,800 United Press. Dull and feature-bales, les. T/O: $478,000. The certificated stock totalled excluding 2,762 22,050 baics, Lacked support. baleg
tho nt Galveston for T/O: $720,090.
Season 50 far total 3,590,000
weck:
Friday:
Light
acale trad-bales vs 4,818,673 bales shippet ing. T/O: $207,000. the same period last season.
NEW YORK to be Wednesday: Continued
Prices of cotton futures closed Ноду: T/O: $327,000.
Lack of support. T/O: $401,000.
put forward by various brokers Monday: yesterday. One was that Hong- keng was being affected to some extent by the present world Tuesday: economic situation. Another said that the unstable political situation in the Far East was invest- making people wary ing their money here. A tbird 20 tosal that although
there was Thursday: sales plenty of idle money in
Colony, many people thought it unwise to invest too much In Hongkong. Others want their investments to be in a fairly liquid state so that they would be able to cash their holdings cally on short notice. Some times it is not so easy to sell off large blocks of shares on the Stock Exchange.
Inet Business Machines Int'l HarvemET DA
3302
201
76
March
B
May
July
John-Manville” Co. ̈*
September
Kansas C. Power & Light
November
Kennecoit Copper
801
January
27.10
Liggett Meyers Tuis. Ca
March
27.10
interest cen-
Lockheed Airerat
134%
Standard contract closed
12
38 points higher with no reported.
(Am.
201
March
25.65
улу
21.65
July
27.00
21
27.03
January
39
ST2
43
DL
1414
Elsewhere, the
of the in- fred on sub-groups dustrial division which are not presented in the averages-such groups as the cameras, packing shares, metals, tobaccos, special stocks, and building equipments, Chemicols were bit ragged and so were the drugs.
Steels, firm of the day, turned Olls did nothing. irregular..
Bath fron Works feil more than 2 points in the shipbuilders.
lautustrials registered a small while rise in their average, utilites had their first decline in six sessions,
Of a total 1,142 issues traded, 608 were higher, 319 lower.
New York Stock Exchange volume was 2,830,000 shares.
New York Stock Exchange bond volume was $5,310,000.
American Stock Exchange volume was 640,000 shares.
Dow Jones closing averagos
were:
30 Industrials
20 TU
25 utUtter
stocks
40 boncia
Comm. future price index..
Closing Prices
Alden Ine. Acy.
Allied ChemiĶNKÄS Allied Me Ina.
Allis Chalmers Am. Brake Shoe American Airline
American Corp.
Cable & Ro
American Con
American Cyanand Co,
Amer. Forgn. PowT
Am. Gas & Electrte
Am Mach. & Fury
American Metal
Tei
American Smelting Am. Sugor Net. American Tel Amerian TOD. Anaconda Copper Arince Stocl
Armour.... Atlas Cong, Mining Baldwin-Lima-ltum. Baltimore & Ohku Beneño Financo
Donatx Aviation Corp.
Benguel Con
Bethlehem Steel
Boeing Airplane Borden (The) Co
Burroughs Add Machine
Campbell Soup Co....
Canadian Pacilo R
Case (J. 1.) Co.
Cat. Tractor
Celanche Corp.
C. IT FInancial Corp.
Chase Banhat. Bank
Chrysler Motora
Climax Molybdenum
Cuett Teabody
Colgate-Palmolive Co.
Colombia Corben Co.
Commercial Credit
Commercial Eleg
Consolidated Edisor
Continental Oil of Del.
Crown Zellerbach
Cuban Amer. Sugar
Diamond Alkali
Diamond Match Co
Douglas Alterart Dow Chemicals
Dupont de Nemours Ekstern Airline
Eastman Kodak
El Paso National Gas
Family Finance Carp.
Firestone Tyve di Rubber
Ford Motor
General Electrio
General Foo
General Motors
Cen Pub, UL.
Getty C
Gilden Co.
Goodrich (1). F.) Co. Goodyear Tyre Heydon Newport Corp. forestale Mining Co
mina meri
Loews Incorp Lama Star Cement Co. Lowenstein & Sons.
Aircraft McDonnell Stock.) Menabl Iron Corp. Minnesota Mining Mission Development Monsanto Chemical Co. Montgomery Ward Motorola inc National Cash Reg. National Dairy Prod
National LA
National Steel Corp.
New York Central
Norfolk & Western Hy.
Olin Mathieson
Otis Elevators.... Owen-linole Glass Oxford Paper Co. Facifio Gas & Elec. Pan American Airways Paramount Pictures Parke Davis Co. Penny J. C. Co. Penn, Balt Co. Philip Morris
Procter & Gamble Co. Pittsburg Plate Clara Publicker Industries
Pure O
Radio Corporation Redlo Corp. Pref. Republic Stee) Reynolds Metal
Royal Dutch
Bears, Restuck & Co. Shell O Co.
454.10 Saint Neg. Paper 106.89 || Sinclair Öll
13.24 Sony Mobileti 154.18 Rolar Aircraft
36.00 South Puerto leo Bugar 155.00 | Southern Co. (Tha)
Southern National Gas
Railway (Dom.) Boulbean
Standard Oll of Cal.
September
March
21.10
27.10
Terminal market otcallness reflected seller wariness in face of Indonesian
political #lua-
tion and uncertainty
over the
32 possibility of an increase in the war risk insurance rates from that area.
0574
3130
343% the
Some speculative buying was noted in futures, but dealers in spot market continued 25 lument over the protracted lack of factory interest for other Gathan immediate fill-in-needs.
In the shipment markot mun- 74%ber one ribs were reported done 33% at 20% cents a pound, March/ 339%
Spal April, cost and freight. No. 1 R was quoted at 20% 421% cents.
43%
7016
44
SINGAPORE
The market had a very quiet 48 day and opened slightly higher on better than expected aver- 275 Feas advices.
104
30
After some small business at
the opening, the market sagged on some liquidation and some Giile interest in lower grades.
3 remained innctive for most of the day. Futures:
the
Whatever the reason, there is a feeling on Ice House Street that the market has practically reached the bottom of its des- cent and that when the divid ends are paid out, some of the money will be put back into the market to lift it out of its pre- rent state,
Lone Wolf
The lone wolf in the market this week to tack on a gain was Unions, which closed at $71- a gain of $1 on the week.
All the other shares listed or remained either had losses steady. Fifteen were lower and eight unchanged compared with two higher, ten unchanged and 12 lower last week.
The shares to suffer
most
were utilities and stores, all of which registered losses.
less
Turn- $2.20 than
over for the work' wis
lllon-two lakhs
No. 1 rubber per ib. March 774-77 last week's hurnover,
April 172-775
Yaamati Ferries declared an
No. 2 rubber per ib. March 13-14 unchanged dividend from last
Standard Brands
175
Standard Oil of Ind
20
Standard Oll of NJ.
30
Sleep Rock Toronto Exge.)"
241.
Sterling Drug Co.
331
Stokely Van Camp.
13
17
4Swift 200,
Sunshine Mining
Studebaker-Packant Corp.
MIL
Texas Co.
0116
No. J
+
41
03
Textron Inc.
121
Tide Water Assn. Oil
43
Time Tue.
56
37
Twentieth Century Fox Film
No.4 Spot, rubber unbeled ... No, 1 pale arepe ... Ilanket crepe.....
04-00
2336
Union Carbide
Union. Out of Cl..
Union Pacific Railway
171
United Airerats
19
Untied Gas Carp
--
44 US. Foll "D"
U.S. Gypsum
14.9. Live Ch.
UB. Rubber ..
14.5. Smelling 241
U.S. Steel... Warner Bros. Westinghouse Eleciale Western Union Tel. Co West Va. Pulp & Paper
#3
3816 Woolworth
50%
LONDON
HONGKONG
STOCK
EXCHANGE
Our Own Correspondant
to
today as follows:
Apot
Mar.
5.25
May
July
33.91
det.
30.27
Dec,
36.29
Mar.
36.48
May
36.40
July
35.70
NEW ORLEANS
Prices of cotton futures closed
today as follows:
Spot
Ear.
May
July
Oct.
Dec.
Mar.
MAY
July
LIVERPOOL
Cotton
*
Lend
Marchi
11.40b
May
11.45b
Zine
March
8,06
May
8.01
Cupper Marchi -
22.000
10
Ху
14.000
Uvated Press.
March
May
P&O BI
BIE
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. C.
35.03
54.93
36.28
Outwardz
30.25
30.39
"SUBAT"
35.70
55.78
future closings, in pence per lb, were as follows;
19.40: Old contract: Mor/ADT: Business done on the Hong-
May/June: 34: July/Aug: Exchange this
28.219 kong Stock
26.03 Dec/Jan: Oct/Nov: morning Amounted
ap-2017,
Contract! Mar/Apr: 25.74; proximately $330,000. Noon May/June: 26 10:
July/Aug! 21.43: the morning's Decian: 28.93; Mar/Apr 07.05.- quotations and transactions were:
United Press,
SAO PAULO
futuro Cotton
closings, kilo cruzeiros
per
were follows: July:
Oct: 40 00: Dec: unquoted; Mor: 41.00.
shares
BANKS
Buyers Sellers
Saler
KK Bank,
SO..... INSURANCES Unions 19,50
SILPPING Wheelock
DOCKS, ETC. K. Whart
$10
+ 0.10
700 a
4
In
30.00;
"CORFU” "KARMALA” "CARTHAGE"
"CHUSAN” "BALSETTE"
In
"CANTON"
Homewards "CORFU" "SOUDAN" & "CARTHAGE" "CHUSAN" + "CANTON"
15
the United States, the
average price of one-inch cotton at 14 designated spot markets 6.00 9 94.52 cents,
Dock * s350 53.00 300 353
Provident,
any $1000 1250 1000 11.10
800 LAND, ETC.
HK Hotel,
32
1.19
XD 15.70 18.30 700 @ 18.70 HKC Land,
12 300 @ XD 31.00 091-20
year of $5.50 for preferential 6015-07
Humphreys, shares 2012-20
and $3 for ordinary
14.80 shares.
interium Was Ilealty
1.35 137 40,000 (3 Their
RUBBER $2.50%
Amalg
1.25 0.273 1.10 Hongkong Wharves declared Trust a final of $9, which is $3 more UTILITIES
'I'T T X1
22.00 than they declared last year.
Ferry This is their highest dividend Frumal 50.50 1850
C. Light eince 1931 when their dividend
17.1700 (0) .... was $12.
Electcla 25.70 Telephone,
XD 24.70
The rubber market was steady with spot unchanged at 22 18/10
Prices: pence per lb.
No. 1 spot .......... Bettlement house ferm:
2016
April
G011
MAY
10%
June
·00%
Apri/June
17
July/Beat
Oct/Dec.
421
*United PrOKS.
London Foreign
Exchange
London, Mar, 13. Closing rates were:
New York
Montremi
Amsterdam
Brussels
Copenhagen
rankfurt
403%
2
Dala
Bwokholm
解 Zurich
18045
2.61-9/10-2.81%
2.70-0.2815 10.632-10.021 150.05-399.00 19.3472-19.35
11.754-11-2015
20.00-20.0156
13.30-12.201
Others unchanged. United Prem
New York Foreign
Exchange
fan/Mar.
23-2018
23.231
XJ-23
33-231
23-23
Poor Week
Rocount
Here is an Ice House Street | INDUSTRIALS
the Corent of" 223 observer's
Xu .... market:
Hope Amoy Can STOLES, ETC.
General markets, cif basis, ports:
March April
....
Estatis crepe
thin March thick arch
AMSTERDAM
222-227
21-23 235-23
The rubber market was dull. Prices closed today in guilders per kilogram, clf March as fol low
No. 1 rubber, No. #rubber
No. 3 rubber
No.
стора
223 Bom.
2.00 nom,
The Stock Market experi- enord a poor week of steadily declining prices and small turnovers which totalled
26
300 of 17.20
Total onits were bales-United Press,
*
10,073
#
New York Sugar
Market
New York, Mar, 13. World No. 4 sugar futures closed today 1 to 3 points higher with sales of 211 contracts.
Domestic No. 6 sugar futures 1000 6 1710 closed 2 points lower to 4 3003 G 2000
of 90
in the
407226.00 paints higher with safes
contracts. 25 3000 24.20 The covering movement
300 24.00
under Way ni the previous close was resumed world contract. Buyers worried
the OVET
Cuban political strike in and the situation Kawall, both
posed future supplies for threats to the, United States,
2150 14.00
**
4.00 4.00
6.40
100 000 a 14. Dairy....
2300 1070 Watoon ..150 11,000 cu. 24.00 1700 g 11.00 COTTONS Ittilo over $214 million.
There was never suffiolent Textiles
INVESTMENTS support to counter the moder- | Vinglere .. kle selling UTÓSRITO which persisted throughout whole wook and consequenily lowes, though gradent,
the
widespread with the majority
2.21 nom.
of counters
lowest levels.
1.36 nom United FreSI.
London Metal Prices
London, Mar. 13.. Prices of metals closed today in sterling per long ton
follows: New York, Mar. 13. Closing rates were:
Canada R
England oficial.
M
K-days
po-daya
New Zealand fouth Africa
1.
3.00-12/10.
Samuelis 1.61-11/19 copper pot
[month 2.79-1/10 Land les biet NOW 1.00-11/18
3.309-1/10 Zune fat bail MW,
Jun
• Buyer Sellers
the closing at
Exchange Rates
of which
In the raw markel, Ceylon reportedly postponed the par- chase of
cargo, but Switzer-
Jend bought 3,000 tons of Cuba making a total of 0.000
tons purchased by that source In recent wooks.
Contract No. 4 (world): May 350;
Mar
this per
Burtoe was done in the local July. 39; Sepl, 340-411 Oct, 3.39; Kay. 231 Boot-Cente unofficial exchange inárket It is dificult to determine morning at the following rates:-- Open Interest: 1970 contracts.
current | U.S. dollar (per și) the reasons for the
Qubtract No. i' [dornaklej: May, 15.10 8.83) July, 5,75; Bept., 3916 Nov. 5.15; notes (per 1). depilne,
$2.50 | Ep06-(Conte per ib. uit NY ex-duty), takes into consideration the
10.65 5.50, Indonesian rupiah (per 100) dividenda | slam tical (per 100) good
20.02 Aaro
Open interest: - 1,011, contracts-- 100 Unibod Premi. which are payable in the very ingapore (štralia)
especially when one Salan notes (per fil
near future.
one
They should provide sub- stantini fanda, part of which
to would expect
be ploughed back into the mar ket, and it may be that when these finde hoćemo available produce affolent theỷ. WI
the purchasing, power to us market out of its prosent doldrikums..
No on stock calls for paži
·Elenlar damment, but the siala
SHIP
BENALINE
*
Denver London Salled 22/1 Balled 6/2 Salled 15/2 Balled 3
18 March
·20th March
Ist April
Dus Hongkong
14th March In Port
0th April 7th April
13th April
12th May 4th May
Leaves Hongkong Dios London
14th March 10th March
11th April 27th April
8th May
14th April
27th April
12th May
20th May
6 June
Via S'pore, Penang, Colombo, Bombay, Adan a PC, Enid,
↑ "CRUSAN" also calla Harmites.
I "SOUDAN" emila Colombo, Hombay, calls Port Sudan Havre and extenda Hamburk, Rotterdam & Antwerp.
BRITISH INDIA S.N. CO., LTD.
"FULTALA" due 15th far. kalis 18th Mar,
"'SANTHIA" das Beth Mar.
"ITRIA"
#alis 21st Mar.
from Javac
for Singapore Pe Rangoon,
Caigutta
chittagong
from Calcutta, Rangoon, Penang. &c. Singapore for Japan
P. & O./B. I. JOINT SERVICE
“UMARIA”
que 20th Mar
salis 77th Mar.
due 20th Mar, Falls 28th Mar,
"TTOLA"
duo 31st ins,
*
alls 1st ADT.
*
*
*
*
E
from Bombay Cochin, Colombo & Bingapore
For Japan
from Japan
for Singapore, Dombay, Karobi, Kuwait, Barrali
Khorrambir
from Karachi, Dom- bay, Colombo, Perang * Bingapore for Japa
EASTERN & AUSTRALIAN 5.5, CO., LTD.
from Japan & N. China
for Australia via Labuan,
Bandakan,
"NANKIN"*' dum 29th Mar
malie Jiat Mar.
"RASTERN" due sih Apr.
MUA 718 ADE
from Atestralla for Sup
Ail vezials have libuity to call at any portu - om or of the route, & the soute de anilinga ako pobject to change or amendment with or without notion.
For full oncticulars apply do. MACKINNON, MACKENZIE A CO. OF HONG KONG ITD. Telephone fps 2772, 1