THE CHINA MAIL, FRIDAY, MARCH 21, 1958.
TRADE and COMMERCE SECTION
|
MARKET IN THE DOLDRUMS LONDON STOCK New York Sugar
No Signs Of Any Improvement
Time Being For Time
By A SPECIAL CORRESPONDENT
The market continued to be dull this week and there were no signs of any improve- ment for the time being.
HONGKONG STOCK
EXCHANGE
Our Own Correspondent
10
hp-
It does not seem as if dividend funds which have become avail- able in recent weeks have been into the market ploughed buck yet, and with the recent Book statement, buyers have become eaulimus on Ice House Street.
shares
the Nearly half of ilsted
This were down again week, the remainder being un- changed or rising fractionally.
was
Turnover for the week only a lakh over fast week's total of $2.20 million. Tally was nine higher, five unchanged nod In lower compared with DIN:
Business done on the Hong-higher, eight unchanged and 15 kong Stock Exchan this over last week. murning amounted proximately $429,006. Noun quotatlong and the morning's transactions were:
צוף
Hongkong and Whampoa Dock Company announced a dividend of $2 and a bonus of $0, which is an overall increase of $4.50 over last year's dividend of $2 and bonus of $1.50.
Little Signs
Here Is un Ice House Street
a.00 observer's necount of the
M
Sharee
Buyers Kellora
Halex
DANKS
K Hak
越殴
TKS
INSURANCES
11
SHIPPING
Wheckex
4.10
GEO Q
DOCKS. FTC,
K. What
120
Dock .....
13
51 500 út
1200 for
Provident,
(0).....
İNİ
12 12 20 16AM ][
500 m
LAND, ETC.
SSUGO 16
10.70 15.30
FI 31
31
LAC
1300 4
1.40
1.26
HK Hotel 15.00 15.30 2500
HK Land.
Humphrey 14.40 14.0
Really. 1.40 1.425 GUDU
RUNDER Amalg.... 1.25 -1.275 43,000 10
1.18 1.45
UTILITIES Tram, XD 22.70 22.10
Youmati
Trun
..
الم من أنة
markoj:
Dull and featureless trading on the conditons prevailed Slock Market throughout the past week and, as yet, there are little signs of any re-in- vestment of available dividend funds.
References to trade recess ian have, no doubt, caused operators to extreise further caution and consequently the market
Jacks genuine support.
any
Under the circumstances, it
* The Share Market At A Glance ★ NEW YORK
HIK Bank Lombard
HK Realty
IK Trams
Star Ferry
Yaumsily
Ch Walits Fleccles
IK Telephone G.1. Coment
334
001***
COTTON MARKET
Now York, Mar. 20. Cotton futures today sco- sawed over a narrow range in quiet doslings, Month
Voline Open Interext
2,400 230,000
10,700 130,700
127-100
1,107,500 bales
Up or
Feb 20 835
Feb 27 810xel
--334
Mar 0 8109
331⁄4n
Mar 13
BOST
Mar 2D
785
Dawa
-$20
83147
334
atends
Union
71
701211
70
71
12
4-$1
Wheelock
0.30
6.30
0.25
0.15
6
-106
HK Wharf
119m
121m
121
1214
120s
-51
BK Books
sib
65/2
543
63
54
Provident
12.30D
12,50
12188
12.20
11.95m
*****250
UK Hotels
16.60
18.30
15.60mxd
15.80
15.70
HK Landa
34m
3314
3841
32xd
3114
750
1,35b
1.376
1,3758
24.00
24.00
23mxd
1.3708 22.70m
1.40
Мат
+2460
Max
12,200
22.80m
+100
July
13,700
213,100
123
118xd
118n
117
115n
$2
Oct.
24.900
206.TOD
0734b
101
17.10
17.60.
28
27.50
27.40
27.50
25.60
24.80n
17.50 20.50xd 25.70xd 21.60nxe
98b 17.10 20
961⁄2
Dec.
11,400
158,000
steady
Mur,
25.800
101,0
17
-100
May
21,000
25,80
-200
July
Tetai
24.90
15
+100
21.50
21.
Dairy Farm
10.80
17.10
17.10
10.70
10.90
+200
A.S. Watson
12b
12.105
12
11.70
10.90xd
+100
Yangisze
G.50n
5.501
5.50%
5.40
5.45%
steadly
*Allled
3.60h
3.675
3.65
3.65 n
3.75€
+-106
KK & FE Inv
9.600
1.80
9.50b
0.80b
100
+20€
Textile Corp Nanyang
4.55
4.05
4.COL
4.606
4.60
steady
8.550
8.00
0.15
0.16a
9.15n
BANK BANK RATE:
REACTION
IN
CUT IN
ECONOMY CIRCLES
London, Mar. 20,
steady
The reduction of the Bank Rate to six per cent, announced today by the Bank of England, has been received with cautious satisfaction, both in industrial and financial circles.
There were lively increases on the Stock Exchange, but the volume of busi- ness remained moderate. Operators felt that the American recession would remain the dominant influence on the market, no matter how much Britain might wish to abandon the rigours of her anti-inflation- ary policy.
Government bonds settled at af level slightly lower than the in- terest rate. The Index published by the Financial Times stood to- night at 81.26, against 80.27 yesterday and 81.51 on Septem- ber 18, the day before the Bank Rate was increased from five to seven per cent.
BIG RISE
The New York Stock Market
New York, Mar, 20.
There was an even more pro- Copper shares featured on the upside in an irre-
Fisc in industrial
only been fractional and there (nounced
are a few ointed counters securities, with the Financial which actually
2000
100 4 22.30
300 22.50
#7
200
DT
is not surprising that a num ber of issues have lost some
100 1
147
ground, but generally this has
500
kan seb
P
109 1
C. Light
gains.
(0)
17 17.20
500 X
17.20
300
17
1500
17.10
Telephone 21.00
INDUSTRIALS
to approximately $2,400,000.
Cement
STONES, ETC.
Market Diary
Electrie 2010 (26.70
21
Dairy
Watson,
XU
... 18.00 1720 3925 @
COTTONS
Textos...
Nanyang
INVESTMENTS
Yangisze..
2000 1
10.70 10,90
4.00
910
15.40
Exchange
SOU
* Uo
overall turnover amoanling
gular stock market today.
The cuppers, which have been | Goodyear Tyre avly liquidated since copper prices began to crumple, registered gains ranging to more
smill Times slow
index rising to 18-1.5 against 160,2 This was st! well Trading has Baturally been below the level of 183.5 which
the trenched light scale with
ота September 18. For those industrials which are largely unaffected by world than a point and held most of them. Higher London prices economic conditions.
the main and an Indication that
inven influence is generally the pos- sibility of obtaining # bank tories are running low
D
Friday:
Monday:
Rates
Durinces was done h the local nothin exchange mitke!
morning at the fallowing rates:-
D.S. dollar (per #31
Sterling notex (per
Australian nolen iser £1)
Indonesian rupiah iper (00) Slaaf (per 100)
Singapore (Straital
Uninteresting state: T/O: $513,000.
Dul and feature- less. T/O: $442,000. No material change. T/O: $510,000.
this
the group.
helped
Ingersoll-Rana
cake Mining Co. Inland Steel Co. intertherical Corp.
Int'l Business Machinea Int Harvester International Nickel international Paper Ini Tel & Tel
on-Manville Co.
Kawas C. Power & Light Kennecot Copper
Loews Incorp.....
Lowenstein & Sons,
727%
Prices of cotton futures closed today as follows:
Koot: 3000m: May: 35.68 JALDKE 30.13; Ort: 26.40; Dee: 38.40; Mar; 30.75 Max: 0.73; July: 36.03.
NEW ORLEANS
Prices of ection futures closed today as follows:
Spol: 34.80; May; 35.63: Juty: 3.; Get: 30.50; Der: 30.48: Mar: 24.70; May: 30.74; July: 30.01.
LIVERPOOL
|
MARKET ·
London, Mar. 20.
The market found the ono
por cent drop in the bank rato electrifying and thera was a hurried marking up of prices.
Market
Now York, Mar. 20. World No. 4 sugar, futures today closed unchanged to two points higher with sales of 536 contracts.
Domestle No. d sugar fulures
British Governmenta were closed two points higher to one expecailly strong witi Oldoint lower with sales of 20 con- Consols and War Loan both up tracts, 7/0 and the Raliway Nationalisation stock up 11/3.
Blue chip industrials followed a similar pattern with Unilevera up 3/-, Associated Electrics and Rolls-Royce up 2/- and others up between 1 and 2 shillings,
Oils seemed to have a lot at Luying except for Royal Dutch. up only a few pence ond Shell Burmah Oil Jumped up 1/6; nearly 4/- and others at least 3/-.
Japanese non-assenteds show. ed several rises of £1 and veral more up £; assenleds were active but irregular In their rises. German Dawes non- essenteds cased £4.
Dolin stocks were firm with their premium up e to 61⁄2 per
Cotton future closings. In cent.Unlied Press. pence per lb. were as follows:
Old contract: May/June, 24 10:
July/Aug.
Oct/Nov
M21:
Defian. 2043; Mar/April, 36 New York Foreign
New contract: May/June, 20.33: July/Aug. 20.05, Oct/Nev., 27.10; Dec/Jan, 27.25: Mar/April, 27.43
SAO PAULO
in
Colton future closings, cruzeirus per kilo wtre a3 follows:
May: 40.70; July: 41.10; Oct: 4160; Dee: unquoted.
In
Exchange
The domestic contracts ruled quiet with traders awaiting some new incentives.
Contract No. 4 (World): May. 3.46; 9 3.40; July, 340: Sept, 3.40: March, 3.44; May 3.41; July, 1,45; Spot-lent par 1b. fub Cuba), 345.
Open interest: 5,096 contracta, Contract No. 6 (domestic): May, 5.64: July. 6.77: Sept. 5.75; Nov., 9.74; Spot-(cents per 1. elf NY ex-duty).
"Open interest: 2,200 contmets.-- United Prem.
London Foreign Exchange
Lordon, Mar. 20. Closing rates were:
New York Montrent
Ainsterdam
Drumwis Frankfurt
KIJAN Stockholm
Vienna
Zurten
Others unchanged.
2 3175-2.0196
2.35-2.7516 10.82-1002L 139,774-150 10 11,759 -11.75% 174814-1740% 145172-14.52 72.70-12.83 1.171-13273%
-Entled TORY.
102-78 Agreed Merchant Rates
Swins Franes: maximum West German selling 75-7/10; Deutschemarks 72%.
New York, Mar. 20. Closing rates were: Canada England effi
241-9/11
74
11
Uruguay
30-40W Du-nya
Others unchanged.
2.001;
2.70%
spot
1300
United Prean,
*
*
the United States, the average price of cotton, pre- ineh, at 14
designated
market was 34.54 cents.
Total sales were 15,325 baics. -United Press.
NEW YORK PO B-I E&A
NEW YORK
RUBBER
MARKET
New York, Mar, 20.. Rex rubber futures today closed 10 to 31 points higher with sales of 39 contracts.
March, 20193: May, 27.00: July, 27.00; Sept., 27.13: Nov, 27.11, Jan., 27.11 March 27.11.
Standard contract closed 10 to 31 points higher with no sales 30% reported.
12
March, 20 95: May, 27.00; July, 2700 Sept, 2730; Nov, 27.11; Jang A 27.11; March 27.11.
SINGAPORE
With the
Indonesian ailua- tion uncertain the market held steady but quict throughout the day but ofered sloadler,
There was better interest la lower grudes. Fulures:
No. 1 cübber per 1. April 7724-7127
Eggett Meyera Tob. Co. Lockheed Aircraft
4112
33 123
Mus 7792-7732
No, rubber per ib. April 7315-74′′ No 3
79-70!
mit No.
87-0715
7035
Spl rubber unbaled
7012-71%
Blanket crepe
04-00
10%
No. 1 pale ceps
80%-82%
McDonnell Aireratt
Stock Exce.) Mesubal Iron Corp.
ilere is a market diary of the advanice rallier than the interest weck:
rale.
Other strong spots
included In
connection, the spine of the drugs, chemicals, authorities announced that re-camern issues, and a long list of Lone Star Cement Co. strictions on advances imposed specials, many of which madu last September would in no way
new highs. be modified.
raw materials no sign this any considerable resumption of industrial activity. There was a higher demand for copper and the price increased by £3 to £175 per ton.
Tursday:
this | Wednesday: Prices move within narrow limits. T/O: $491,000.
5.82
10.03 12.50
11.62 Thursday:
28.00
1.00
Dull and featureless. T/O: $434,000.
THIS WILL BE YOUR
SYMBOLA
OF
SECURIT
に
LUMBARD
BANKING
Your first Lombard Banking
8%
Deposit Account Pass Book will always be a happy reminder of a wisc decision. To save is not good enough; your funds should never stop earning. interest for you in the assured security of the Bank.
"Interist paid and Land andoadow of UK.
Write today for your copy of "Bank Deposit Account" booklet No. AO 74 from General Manager
LOMBARD BANKING
LIMITED DANKERS
·Stoodlice LOMBARD HOUSE
CURZON STREET, PARK LANE, LONDON, W.X GRO 4111 (30 109) Bronchej and Axente ihresghout the World
The London markets showed
of
mniingסות
Of a total 1,098 issues truded, 417 were higher, 385 lower,
New York Stock Exchange volume was 2,280,000 shares.
New York Stock Exchange bond volume was $3,880,000.
American Stock volume was 020.000
Dow-Jones closing
Rubber was also marked up by a quarter of a penny to 23d per pound, but there was little were: Increase in sales. There was in- creased activity on the Brad-30 industrials ford wool exchange but prices 20 rails....
remained stable.
INFLUENCE
It was noted that today's main influence on the cocoa, lead and zing markets was not so much the reduction of the Bank Rate as the luuence of New
York.
Thare was д pronounced firmness of Sterling on the ex- chunge markets, though It was considered possible that the government had decided to intervene.
after
15 utilitie
03 stocka 40 bonda ... 'Cenum. future price Index
Exchange shares.
averages
Closing Prices
Allied Chemicals All Chalmers Ani. Brake Shoe American Alriino American Cable & Radio Corp American Cyanamid Co. Amer, 2 Forgn. Power Am. Gas Electric Aun. Mach. & Fdry, American Metal... American Smelding Am. Sugar Iter. American Tel & Tei American Tob, "B" Anaconda Copper Armeo Steel Armour
Whatever the reason, the pound-dollar rute which was at 2.81-17/32 this morning. dropphug by maximum of Alas Cous, Mining 4/32 during the course of the Bodhgin-Edena-Hom. session, closed 1/10 of a point more & Ohio higher. On the other hand, the pound sagged in relations to the Mork, the Swiss franc Belgian franc-France-Presse.
Beneficial Finance Bendix Aviation Corp Benquet Cous Bethlehem Strel and the foeing Airplane
Daden (The) Co, Burroughs Add Machine Campbell Soup Co. Canadian Pacific H. Cam (J.I.) Co.
UK PLATINUM Cat Tractor
PRICES
London, Mar, 20. Free platinum prices in the United Kingdom have continued
Celiner Corp. C.LT. Financial Corp. Chase Marhat. Bank Chryster Motors Cluett Peabody Colombian Cargo Co. Cairate-Palmolive Co Commercial Credit
Consolidated_Edison
to drift lower and are now Cummerwealth Fire.
£23% to £24% per troy ounce,
| Continental Oil of Def. Trade quarters say thist this Crown Zellerbach drift continues to reflect the Cuban Amer. Buger dull conditions prevailing in the Demand Alkal
Diomand Match Co. market. Dealers say that it 15 Duugh Aircraft too early to say what effert Dow Chemicals the international Nickel Coin-Dupont de Nemours pany's in platinum output will man Kodak
El Paso National Ges have on the market, The Com- | Family" Finance Corp. pany's output of platinum Firestone Tyre & Hubter metals declined, by about ning Ford Motor..
General Elects le, percent
1967 Jo 329,400 || čemeral Foo ounces according to the annual General Motors report issued recently.—China Om Putz Util
Ülliden Ön. Mall Special,
Goodrich (B, .) Co.
Minnesota Mining Mission Developinent Monsanto Chemical Co. Montgomery Ward Motorola Inc. National Cast Reg. "A National Dairy Prod. National Lead
LONDON
The rubber market was very
sleady, with spo: quoted at 23%
*
*
*
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. C.`
Outwards "KAHMALA” "CARTHAGE"
"CHUBAN". "SALSETTE"
"CANTON"
"BUNDA"
Momewards "CARTHAGE" “CHUSAN” † "CANTON"
Leave London Salled 15/2 Sailed b/3 19th March
zou March
1st April
6th April
Que Hongkon
9th April
7th April
13th April
12th Atay 4th May
1811 May
Graves Hongkong Bus Lozdon
11th April
27th Apri
orn May
12th May
جملة مالية
DLA JU
Via S'pore, Penaux, Colombo, Dombey, Adin a 14, duid.
↑ "CHUBAN" also calls Marselllen.
National Steel Corp.
pence per ib. Prices:
New York Central Norfolk & Western Ry. Otis Elevator
13
tto. I stas pot.....
20%-233%
50%
Settlement house term:
BEP
April
2934-20%
"SANTHIA"
Alay
21-233
307 June
2311-233
448.40
Apri/Sept.
2317-239
104.37
Orl./Dee.
2334-2215
73.10
Jan./Mur,
202.01
2321-231
"UKULA"
General market, elf lasis, ports:
0.87
dus 11thopr. salts 1201 APT.
155.30
Owen-Hinots Glass
Oxford Paper Co.
Pociño Gan, & Elec.
Puh American Airways
Paramount Pictures
Parke Davis Co.
JJ, C. Co.
Salt Co.
Philip Morria
Procter & Gamble Co.
Futaburgh Plato Glass
Pure Oli
Radio Corporation
Republic Steal
May
April
#buyer
227-23 Estale crepe thin Aprit.. 2014 thick April 211
-United Press.
Singapore
Stocks
20/-
&
BRITISH INDIA S.N, CO., LTD,
In Port
awila 21st Mar,
Fronts Culeita, itangoon, reudig o amgapore
from Japa Rangoon, Calcutta Jur Singaporu, runanų Liuttangen
P. & 0./B. I. JOINT SERVICE
due. 20th Mar,
due 20th Mar
salia 29th Mar.
item Japan
for Singapore, Bombay, Karachi, Hüwalt, Bawah
Khorramabahir
from Bombay Cochin, Colombo & Singapore for Japan
from Karachi, Bem- bay, Colombo, Pesang de Singapor кок барад
"UMARIA"
"TTRIA"
Radio Corp, Pres.
23
Reynolds Metal
101
Sears, Roebeek & Co.
Shell Oil On....
P217
Saint Reg. Paper
13
Socony Muhl211
44!%
Solat Aircraft ....
364 South Puerto Rico Sugar
20% Southem Co. (The) ....
43
Southern National Gas
2741
Soirthe Fallway (Com.
111
Standard randa
10
Standard Oil of Cal,
Singapore, Mar. 21. Brokers tolay quoted the following stock prices:
"ITOLA"
duo 31st Mar,
441
Standard Oil of Ind.
ATLA
Standard Ol of NJ,
141
Bleep Rock (Toronto Exge.)
Sterling Drug Co.
11
Studebaker-l'ackord Corp.
2616
Swift & Co.
22
Taxes Co.
014%
40
Textron Inc.
122
Tide Water An. Oil
217
30
Time Inc.
3012
Twentieth Century Fox Film
7419
0sf Union Carbide
01x
Bate Lintang Rubber Co. British Borneo Petroleuin Syndicate .................... Consolidated in Sunelters
27/04 Franer & Neave 11d. Ora. $2.071 Fraser & Neave Ltd.
Cum, pref. ........ $4.03 Gammons (Malaya) Lunited 13.375
tonglong &
Opening
$1.771
July
1st Apr.
Shanghai
Union Oil of Cal.
4412
304 Union Pacife Railway
Hongkong Tin Ltd.
Bankx Car), ***
$130
4/60
24
Kumpas Lut.
$1.00
2015
Kimia Kampar Tin
31/30
Lamas Rubber Estates Ltd.
1.03
27
Malayan Breweries ............ $3,321⁄2* New Serandah Rubber Co.
Ltd.
$2.50
Petaling Tin
$1.7714
Rames Hotel
41
8ngapore Cold Storage
Western Union Tel. Co.
17
Straits Trading
312
Straite Stamship
$10.7
United Engineers Ord,
Wearne Bros.
--United Prezd.
$1.07 3.12 cumChina Mall Special.
United Can Corp.
14 U.S. Foll "B"
01 U.. Gypsum
14
403
U.S. Line Co.
U.B. Rubber
U.B. Smelting
U.S. Bleel
42 Warner Bros.
Westinghouse Electric
West Va. Pulp & Paper Woolworth
SHIP
BEN LINE
EASTERN & AUSTRALIAN S.$. CO., LTD.
"NAŃKIN"
due 2011 Mar. #alls ist im
frem Japan & N. China for Australka via Labuan, dantakan
& Jesselton
1:00 Australia for Japan
"EASTERN" dre 4th Apr. Baile 6th Apr.
All vozidla bavi Uberty to call at any ports on
or off the route à the route à mittags are subject
to change or amendment with or without notion
For full particulars apply to i MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos: 27721-4.
*