THE CHINA MAIL.
FRIDAY, APRIL 25, 1958.
TRADE and COMMERCE SECTION
STOCK MARKET LEVELS OFF The New York
Allied Investors
Have Spectacular Gains
By A SPECIAL CORRESPONDENT
The Hongkong Stock Exchange continued
to level off this week after its upward. climb a few weeks ago and many counters were practically unchanged.
HONGKONG STOCK EXCHANGE
It is expected that the market will hold this position for t time beint before moving one way or the other,
After
months of Inactivity. Allied investors suddenly canie Into prominence with a specta- cular al from $3.65 to $4.50 before any scrip was offered last Tuesday. Yesterday blocks for $1.40 of shares were sold wind $4.375
The sudden interest in this sfare was attributed to a tumour that was wodog around in Tee House Street that the Hongkong Gas Company's shares might be Business dine on the long-quoted on the Stock Exchange. kaux
this Allied Investors own one-thirai
Our Own Correspondent
Stock
Exchange
504 amounted to approxin- of the Gas Company's shares.
Intely $203,000. Noen quotations and the morning's transactions were!
Buyers Sellers Katey
Akuret
BANKS
1st Busk.
7x
INSURANCES
Vaken ...
74 12 50
SHOPPING
Wherinck
003
015
DOCKS, FIL Duk
Providosat,
LANŲ, ETC.
41.54
Lost Ground
* The Share Market At A
Glance ★
HTC Banic Lombard Infor Wheelock
HK Wharf
JK Dock
Provident
HK Jotris
UK Lands
HK Realty
IIK Trama
3.231
ALL..
Up or
Mar, 20
785
MAK, 27 785
Apr. 10 185.
Apr. 17 1824b
Apr. 24
785
3314
3314n
3292
3234
Down +$2.50 steady
72
12
12:
71b
-800
4
5.95
€25
0.10%
6.05b
1204
117
105x4
109
110%
+"
54
54
4514x0
444
444
-250
11.95t
12
1940x0
11.30
7
11.40
-100
15.70
10.10
17.40
17.00
18
++500
31/
3144
2114
33
3214
500
1,40
1.425
1.475b
1.473b
1.50b
+2390
22.80m
23
21.80
23.70
24.10
+40%
116
$176
112*
116
110n
J
0014
97
93xd
0314
95m
+31.50
17
17.30
17.80
1240
17.40
-+-100
25.80
20.20
20.00
20,40
26.40
pleady
IFK Telephone 1.1. Cement
25
25.70
23.40
20.10
20.30
+206
21x
20.00
20.80n
20.10
--300
Dairy Farm
10,00
10.90
17.30
15.90xdb
10.40
+500
A.8 Walsori
10.80xxe!
10.80
Urb
11.20
11.20
steady
Yanglize
5.45
· 8.450
0.20h
5,236
3.251
steady
Allied
3,751
3,051
3.03n
3,006
4.375
+7740
IIK & FE lov
100
10n
10.100
10,10n
10.10n
steady
4.00
4.63K
4.55b
4.85
4.55b steady
9.15
**1
R.00n
9.45b
steady
Star Ferry
Yaumatis
Ch Lights
Electricn
Tex Corp Nanyank
NEW YORK RUBBER MARKET
New York, Apr. 21. Rex rubber futures today sed 25 to 35 points
lower with sales of 100 contracts.
The
8.45b
New York Stock Market
New York, Apr, 24.
Stocks advanced today with the industrial section within five points of the year's high set on Feb. 4.
Trading increased a group after group forged ahead. The leading departments made good gains. Steels stood out and were meeting new demand from the beats as the close neared, Dils
Lands lot some ground thi week, but Hotels pleited up advance to $18, a gain of 50 enis for the wack to rebran! for Hotele activity may be May. 2015; July: 27 16, Sept: 2003: beenuse bugers find the share Now: 20.05: Jan 26.03; 51: 21.90; reasonably cheap at prevailiny: 29.30.
"Futures developed raslots in prices.
with London on the The majority of wines has company
best volume in some days, Sell fractional
Traini gain, bu
Ing followed reports to the Lacked on 40 cents, climbing
ban 109 11.30 11.40 1000 12.50 from $23.70 to $24.10, while effect that the export
Youmalle rus to $93, a pan of shipments at of Central Suma-moved. Some of the chemi-
tra hul been lifted, Dealers Ber wis gained fraction. Dairy Farms were in good de-understood a substantiat quanity strengthened.
copra, yesterday's loss. bring quited ex-of rubber, along with and after divitend last week, and they was available tarked on a useful gain of 50 market, cents for the week closing st $18.40
HK Hated. 179. 10
UK Land
500
SF50 for the week.
All of
10
2000 p
1790
13.25 32.50
Humphreys 14.40 14
Realty .... 1.50 1
NU
Analg.
Trust
..... 1.173
A. Tawar J*** | 138 --
-UTILINES
Tran 390 20
Yaoret 9450 03 50 C. Light
( 1750 17 Ga
Electric_20.10.26.50..
Trlegunge
2010 20.20
INDUSTRIALS
Cement
20 20.50
XD 10,18 10 747 11.20
STORES, ETC. Dalty. We COTTONS
Nat
INVESTMENTS
Altfor! ....
Sungla
US30 7 1000
13 75
for shipmen!
Molors tili
Ralls made
In the special scelions good was noted for such demand Estes us the drug and cosmetles, mercantlies, amuse- tobaccos, ments and foods, Copper wire
on
Bearish rullinent heightened with reports of a more reserved Turnover Inr the week, which ptitude on the part of Russiau was short one elay was $3.11 buyers in the Londe market.
Trade news on the home front with $3.34 million
Compared
Tally was 11 also was discouraging. Private cut in lis dividend. Chesapeake million lust-week
output & Ohio rose u point on declara higher, seven unchanged and six
Conspared with six-for-the US. Uhls week will fulltion of the regular dividend..
to an estimated 50,014 ulls," the ̈ lowest in six years.
100 24.10 lowery
12
200
Q
jan
170
24
200 x
NX
high r. five unchanged and 13 lower last week.
Predominance
Here is a lee Hate Street
500 20 20 cd,servera
है
21000,
#AU
4.56
1.20
LONDON STOCK
MARKET
Landon, Apr. 24. Stock markats had a fairly satisfactory day though the turnover at 7,741 bargains, was nothing fo brag about.
British Governments were in demand, though most of them met some
Belling Just telure
the else and hold net gains of only 1/10 or . It a few in- tances there were rises of 3/10 or even 5/16,
Industriasts
were rather
contrived
neglected but a few
to gain or lose 6d or 9d. In- ternational Nickel lost 3 points
ila reduction 134 un activity.
נו
of
market:
loase,
account
the
sources dicated auto
Baltimore & Ohlu Beneficial Fnatico..... Bendix Aviation Cùry. Itenguet Cons. Artücher blee! Boeing Airplane Borden (The) Co. Burtough. Add Machine Campbell Soup Co. Canthara Paville R. Care 13. 19 Co. Cat. Timetor
Celaties Corp.
1. T. Financial Cump Cha Mantai. Lank Chrysler Motors Cluelt Peabody Colgate-Palmolive Co. Colombian Carbon Cu
Credit
Comoditated Edlom
Continental Oil of De}, Crown Zelawbách Cuban Amer. Bugar
·Dimsenud Alkail Utilities reached heir best Diamond Mutch Ca.
Dow Chemienie... Because of the gloomy auto average level since Oct, 4, 1930. Dues Acraft
Railroad Issues joined the Dupont de Nemours pleture, some dealers have been forecasting a sharp drop in upturn and the average for 66 Kastamon Kodek
-Fully Sience Chrp utting the April-gure-down-toy stocks, 30 Indust:lais, 20 rahl-El Par National Gas
15 utilities, rose Firestone Tyre & Rubber putting the April figure down to reads, and
more than a point to its best Ford Motor
General Electric
Foods General level since last Oct. 3.
General Motors moved Automoblie Issuer
Cen. Pub. 15. nhead with the top-ranking Getty Oil issues leading the day. Chrysler Gilden Co.
Goodyear Tyra rose a major | Cuir "DE GOA gained more than a point, and Goodrich (B. F. Co. General Motors fraction to a new high,
Ford
around 25,000 tons.
Shipment business today was the Although the Stork Market
in negligible. However, opened the week on a steady
T New York delivery to firm note, a slightly easier
sheets, some three rib smoked about Lendency developed
reportedly mid-week resulting in a pre- Oct/Nov, delivery,
moved at 28% cents and some di niinater of mostly fractional
20% mainly in the utility July/Sept, one sheet at *relion with the exception of rents.
browns three Offerings of Trams, itch advanced to $21,
fwere reported for shipment oul And Yaumatt Ferries to $95.
20 Hongkong Banks and Unlollsjat Java; April/May at
Ford regained an early loss. freight, but [meta
American Molors continued were leady and unchanged,
were an indif- Hongkong Lands lost soie buyers' ideas
Other
active and fem. Ford reported
but vulput, Increasing ground but Hotels continued terent cent lower. steady with business transact-offerings included some Singa-
#C blankets at 20% figures for this week overail ed at 918 In the closing pere
Spot made the poorest showing in six cute cust and freight. session.
quoted at 20 years. After a tan period. Alljed No. 1 Rss was
made a
1 cents. Investor
good re- covery during the week ad- vancing from $3.65 to $4.50 before any scrip was offered to the market.
In the stores group, Dairy Farms were qulte Kolive and tacked out small galne whilst Lane Crawfords also showed further improvement.
Trading was on a fair sente overali with the amounting to $3,117,000.
turnover approximately
Market Diary
4023
SINGAPORE Overseas makets declined In but, sympathy with Singapore market ignored this during the morning and moved steadier than yesterday's low levels.
Premium on spol and Mny reduced during the day is there positions offered freely.
Interest in lower grades was sporadic
Futures:
No. 1 rubber per lb. May 70%-70%
70-754 No. 2 rubber pes 1h. May 72-13 No. 3 rubber per. 1. May 68-69% Here is a market diary of the No. 4 rubber per th. May 254
7745-29 Spol rubber unbaled .............
COM Bankel Crepe week:
00-0014 Closed ón slendy No 1 Bato FEDO Friday:
note, T/O: $689,000. ¦ Utilities prominent. T/O: $845,000.
Olls were active with Cana- dian Eagle appearing repeatedly Tuesday:
Anally, ke on the face and
Burmah and Shell, gaining 1/3; Wednesdays Turned shade easier. Royal Dutch rose 2/0
British Petroleum 2/-.
and
Thursday:
T/O: $990,000. Dull and feature- lesa. T/O: $567,000.
Suez Canal rose £ to £30,
showed Sunic Japanese
strength with the 1910s art the
10308 up. £4, both assented London Foreign
and non-assented.
The 1800s!
Caned, both categories. Only
change in Germans was a rise
of £% in the Young Lean.
Dollar stocks were moderately
higher though their premium
Exchange
London, Apr. 24. Closing rates were:
cased 4 to 44 per cent New York ...... 21-0/10-2.01-11/16
United Presa
Montreal
Amsterdam
Copenhagm
London Metal Prices
Frankfurt Milen Park Zurich
2.33-2.734 10.00-10.0
130.234-190.57%
10.725-11.721%
LONDON
the
nure
Standard Brands rose than 2 points when directora lifted the dividend, by 10 cents. Farm implements made a good showing with J. I Case at a new high and Caterpillar Tractor up
more than a point.
New highis appeared in W.
Penney, J. C. R. Grace. Reynolds Tobacco B, Lily Tulip Cup, General Foods, Georgia Pecine and National Supply, Plough, Inc. (drugs and cosme- ties) rose points.
2714
2215
Rubber Tappers
Wage Demands Said 'Irresponsible'
Cotton Market
New York, Apr. 24. Cotton futures today back-pedalled after an open-
ing spurt nudged the far forward deliveries to seasonal highs.
The reversa) of
formi
Month
coupled with:
1. A return of
May
July
clearing
weather and a
inore
Oct.
19/700
Volume Open interest
23,000 60,100 22,200 109,300 231,000
favourabla
view of the
crop
Dev
10,400 189,000
Mar.
May
over form legislation.
July Oci.
Singapore, Apr. 24. ·
The
news; Z. Renewed uncertainties
overnight government Total
announcement of a dual export A Johore Stafe rubber plant-subsidy plan for cotton
or loader today de cribed some questions the latest wago di hands shippers said.
lett unanswered,
4 01-
11.200 135.709 20.000 152,200 18,500
10,000
33,600 140.100 1.100,000 bales
NEW YORK
Prices of cotton futures closed today as follows:
koht: 33.ps; Star: 35.70-77! Juive 26.09; Out: 30.55; Dee: 3375; Mari 77.00 May: 3762-04; Juny: 30 40
NEW ORLEANS Prices of collon futurea elosrd feday as follows:
of the National Union of A new subsidy would cover
Workers Plantation
as Payment-in-mind, plus
110 ut
Oct: 3021 present "the most
irresponsible nation
programme of buying on com- that can ever have been peiliive bids out of the surplus presented by a trade union clock,
to an employers associa- flon."
Spot, 34.05; May, 35.78; July, 3660; Ort. 26.34: Dec. 30.74; Mar. 31.02; Moy, 3799; July, 30.401 Oct., 35.22.
LIVERPOOL
future closings, | pence per lb, were as follows:
Contract: May/June!
Colton
Ameren
Iri
Traders wonderel
about the the subsidy and smount of The leader was Mr S. Sa- whether it would be on Axed to perlodic or subject diston, chairman of the Johure basis, State Committee of the Malayan chadde. Planting Industries Employers
Evening-up operations fea- 21.05: July/Aug: 25.41, Oct/Nav: Aœention. He was addressing tured in the May delivery. To- 20.; Dec/Jan: 20.33, Mar/Apr: 20.71. heed Contract: May/June: 24.37: the annual meeting of the Johore day was first nolice day. Initial branch of the Association.
tenders for 500 bales were is- July/Aug 20.33: Oct/Nov: 28.70
Dec/Jan: 27: Mur/Aut: 37.30. The Union has demanded that sued and elreclated most of the
SAO PAULO nubber workers a basic wage scrsion.
Cotton future closings,
in
of S(M)4.40 a day plus allow Open May contracts today cruzeiros per kilo were 03
antes, instead of having their totailed 66,100 bales. The cor- follows: wage tied to the rubber pricelineated stock ut 23,350 bales as at present.
vas off 250 bales from the
May: $1.50 July: 41.80; unqualed: Nov: 42.40; bec: 42.5
In o United States, the
Imarkets
The Strat Times rays the previous posting yesterday. Union also pressing for the Closing around the day's average price of one-inch cotton
offat 14 designated spot Heppeer trek to be reduced by bottom levels the list was
on trees, with a bonus for con- to 24 sells. The market was 34.03 cents.
were Press,
nuing the
task, and a
30 18
prezent 450-tree opened up 5 to 10 points. New further bonus for Orlean: closed off 15 every pound harvested over the nois ussessed average yield.
Mr Sandison sald the Gestral- Secretary of the Union, r
P. P. Narayanan. had "ut s
5 signaiute to a ist of demamis
th
18
which would price natural rub-
bee right out of this world, niul
all of a right out of business,"
le sald under the propound
561%, wage senle tappers might cat
$1m some days, for bringhig
4 in no erop at all-ruler,
45%
ដ។
2011
7311
lloyden Newport Corp. Homestake Mining Co. Ingersoll-Xand
13
Inland Stest Co.
201
Interchemical Corp.
381
Business Machines
351
3171
7214
In
Int Harvester .... International Nickel International Paper Intl Tel & Tel .... Kansas C. Power & Light John-Manville Co.
Co.
enero Copper LIBEER Mon Thu. Cư Lockheed Aircraft Loews Incorp, .... Lone Star Cement Lowenstein & Sons McDonnell Adieraďt
Stock Exxe: Mesebi fraz Corp Minnesota Mining Miraton Devedubinent
Motorola Inc Montgomery Ward National Cash tes. "A National Batry Prod. National Lead.... Nadional Steel Com. New York Ceniral Olla Mathlesen
Monsanto Chemical Co.
Ct Exentors Owen-inois Glam Oxford Paper Co. Pacifle, Gas & Elec. Pan American Always Paramintmt Detimes
Davis Co. Pack J. C. Co.
Tenn. Salt CA... Philip Acer Procter & Gamble Co.
SINO-SOVIET
TRADE
PACT
Peking, Apr. 24. The Soviet Union and China, which yesterday signed a commerce and navigation treaty in Poking will con- clude a further long term commercial agreement in the near future, the New China News Agency re- ported.
The announcement was made 3br M. Antonov, Soviet
Chorgo
D'Anaires in Peking, during a
yes-
a dinner in honour of the Soviet 7212 delegation which signed 43** terday's agreement.
321%
[Am.
Leaders in volume-all well below the American Motors total --included Shell Transporti, J. 1 Case, Aluminium, Benguet, and Boeing Airplane.
Volume
of 2,876,000 shares was the heaviest since Feb. 1 fand 130,000 shares ahead of Pittsburgh Pole Glanu
Of 1,151 issues Publicker Induiries
Pure Oil Weinesday. traded, 632 closed higher and Radio Corporations fladin Cur Pres. 204 lower.
Sales on the American Ex-Republle Sterl Reynokh Metal change today amounted to gears. Rotbuck & Co. 740,000 shares compared with Stel oll Co... Saint Ber. Paper GD0,000 shares traded yesterday. Sinclair Di
Bond volume today totalled Sarony Motion
with Solar Alreratt............... compared $5,000,000
Bouth Puerto Bleo Sugar 225 buyer $5,000,000 yesterday.
Bouthers Co. (Tan) Dow-Jones closing averages Southern National Cas
Southern Raliway (Com.) Standard Bralida
The rubber market was easy with spot down at 4 to 22% pence per lb. Prices;
No. 1 pol Settlement base term:
Kov
June
Jilly/Sept
Oct/Drc.
Jan/Mar.
Aparli
21-73
2
227-2215
General markets, ci nalo parts:
Miny Jime
Estate Crea
thin May
221-2224
were:
37 Industrials
23 ratla
15 utilities
63 Blocka
Alden Inc. Any
433.42 Standard Oil of Cat.
The Stressing
Importance agreement which a long term would have for both countries, Antonov said: "Such an agree nie would favour still further trace on a large scale in con- forily with pinoning methods, proved 531 which have already cle effelency."
hנינ*
+
Total sales at these
17.785 bales.
markels United
PO B•IE.
COMPANIES
PASSENGER/FREIGHT SERVICE
...
PENINSULAR G ORIENTAL SN, CÓ
Outwardż
A "BALBETTE"
-“CANTON" "SUNDA"
"SALMARA”
"CORFU"
SINGAPORE"
Homewarde "CHUSAN" + "CANTON. "SOMALI” "CORFU" "SUNDA" &
Leaver London Saited 20/3 Baled 1/4 Salled 2/4
Die Bouskoby
Jin May 4th May 15th May
Salted 20/4
30th April 7th May
2nd June
Leaves Hongkong 27th Apri BU May
10th June
Due London 20th May
4th June
17th May
zd June
Bi. Jie
8th July
15th June
2001 July
Via S'pore, Peuang, Colombo, Bańkay, Adesi & Pt. Bad,
• "CHUBAN" mind calls Kiaresilien.
* "TOMAL*** calls P. Awettenham, Singapore thoNÇO direct to layre & Loudon.
↑ "BUNDA" Calls S'pore, P. Swettenham, Penang, Aden, P. Said, Havre, London, Namburg, Nattørdán & Antwerp.
"BANGOLA" I
BRITISH INDIA S.N. CO., LTD.
Port
Art 20th Apr,
from Calcutta, Rangoon, Penang & Singapors for Jupan
Calcutta
Chinese Deputy Ex- mal Commerce Minister,
Li
"OLINDA"
due 30th Abr.
Ial May
from Singapore for Japan
จง
pro- BIR Che-jen, stated that the Circled agreement would be of "considerable" importance
for
14 Stno-Soviet economic co-optră- ten now in full development." -France-Presse.
New York Sugar Market
New York, Apr. 24. World No,, 4 sugar futuros today elbied bnchangad to six points higher with salos of 581 contracts,
Domestic. No. 0 sugar Zulures 40EL closed today with salts of 119
contracts,
directions:
World future, derived rallying
from two power First, the overnight, announce. 3ment of a boost in the import
Cuban sugar,
111.00 Standard Ol of Ind.
4310
T.13 Standard Oll of N,J.
24Th
280.91 Sleep Tuck (Toronto Exge)
BD.
Sterling Drug Co.
301
150.
Biokoly Van, Cainp.
13
Studebaker Packard Corp.
54
66 quola for
23
Fox m
a
83°N
27-2
Fi* "ཝཾ
1834
London, Apr. 24. Prices of metals closed today in sterling per long ton as fol- Jows:
Tin spol
3-matill
Copher pol
3-toanth
Lead 2nd halt
Buyers Sellers
150 731
730:14 23914 37514 17832
17742 $78
1274314
1724-12246.
Others unchanged.--United" "Preas.
New York Foreign Exchange
1.03-8/3
New York. Apr. 24.. Closing rates were: Canada England one but
30-tays 90-days
Luck May
AMSTERDAM
The rubber market was cuзy. Prices closed today in guliders per kilogram, cit May as fol-
lows:
No. 1 rubber No. 2 rubbar No.3 rubber to. 1 crepe
2.15 nom.
-2.11 non.
1.00 non 2.21 nom. United Press.
Exchange Rates
... 2.01-13th fansiteial exchanges:-
40 bonds
Cemm, futuro prica index
Closing Prices
Allied Chemical
ADied Millr Inc.
Allis ChalRIOTT
Am. Brake Stieg American Airlina
American Cable & Radio Corp. American Cyanidinid Cd. Amer. & Poren, Power Am. Gas & Electrio
Aitt
Mach. & Fdry. American Metal ... Daire was done in the local
market this American Selfing
American el inorning at the 2.00-13/10.3. dollar, (per $11,
5,00 American Tob. fiferfing nales, (per 23jui
10.12 Aracunda Copper 12.63 Australian notes, (per 43)
Armon Bles Indonesian ruplání (per 100)
MIT tieni (per 100)
Others unchanged,munited “Préu, Singapore (strains)
18 Arinque«'» t»«, 2030 | AŬm Cone. Mining
Bunshine Mining
SWIFT A Cu.
Tower Co
Textron anẹ, g
• 20% Tide Waiet Aas, 0|1
74
Time the. Twentieth Century 2015 | frion Carbide
13
33 Union off of Cai,
Union Parle Railway 1415 | United Äfrečnit 451 | Uniže Gay Care, 135 | 178, Kall" ***
44.8 GORUM 351 18. La Co, 2011.9. Rubber, 43 UB. Ping 17765 | 118.. Stest pa
6531 Warner Bros.
14 West. Va Falp & Paper
Woolworth
23
Australia
#
New Zealand
Bouth Africa
April July
Zinc Zrid half
Aprit
July
United Pri
52
1.15 FO
2
4411
417
Wartort
ige
12
2. that Russid Trudo reports bought 10,000 tons of Cubans for Match shipment and was interested in buying additional amounts for June.
Contrne! No. 4 (world)
May: 3.43: July: 3.40: Sept: 3.
* July: 5.40: Sept: the Spot-(kenta
on Tele La
Elecitie
15
LEThOna Prakt
per tu, fob Cuba): 5.0.
Open interest; GAIY contracts.
Conledet No. & ¿ddiheitle) July: 0.75: Sept: 8.73: Nov: 5:15. Epol-fonts per ll. aif NT- eX-QD{#T?
Open laterest: 2,084 contradi Untied Pre
*
"TTIJA"
Je
P. & O./B. I. JOINT SERVICE
due 9th May mailm 10th 24my
dra
4th May amily 9th May
from Japan
far Singapore, Penang, Hader, Bombay. Dhavnagar & Kachl
from Japer.
tor Singapore, Karachi, Barth, Khorramsahr, Kuvall & Darbel
*ITOLA"
EASTERN & AUSTRALIAN 5.S. CO., LTD.
"EASTERN"
40 25th Apr. rails at May
"ARAFUBÁ” dua aridi May
anita "aths 24ẨY
from N. Chian
for Jerwalton, Labuan, Haziakan
Brisbane, Sydney, Port Kembla, Melbutina si Adelaide
from Australis for Japan
All veusvis have liberty to chil sê aby parts du or off the spute & the roula & sailings are subject
to change or amendment with or without notice.
1
For full particulars apply to r MACKINNON, MACKENZIE
OF BONG KONG UID. Telephone Nos: 27721-4.
00: