THE CHINA MAIL, FRIDAY, MAY 23, 1958.
Page
MODERATE Political Situation Affects Market World Bank
FILLIP
IN
LONDON
London, May 22.
A moderate reduction in the Bank Rate gave the stock market a moderate fillip, partly by switching atten- tion from foreign troubles.
How gentle the lip was muy be gauged from the fact that
Opens Unsettled But Closes Firmer
By A SPECIAL CORRESPONDENT
After a rather unsteady opening this week, the Hongkong Stock Exchange settled down and prices firmed towards the close.
total ended bursalus today. The majority of prices, however, were down on
41 8.196 was exuelly 28 more than yesterday's.
British Governments quicken- ed in the last half-hour, most 44 the long-clateds closing with gals of 3/ fufustrials moved upward by 3 or d though some of the best-known man- aged to close anetanged. Banks and Insurance companies Tas!
s much as 17- or 176.
SAME PATTERN
Oils fuliowed the same pat- tein of anodest rises though British Petzolam contrived to Jose d
the week but in most cases only fractionally.
HONGKONG
STOCK
EXCHANGE
Our Own Correspondent
German Young Haun non- Patented, fell £1 auf the s
Business done on the unters 10 Dawes Loun lost
Stock Exchange 10/-, both asserted and ang
mounted Lo acted. In The Japanese list morning
$600,000. the int
in the proximately change was 1930's which gained 10-, both quotatiora hd the
transactions were; nssented and 2001 - ussented. Dollar stocks saw their premium
30 4% per
case
United Press.
cent
Call For New Capital
Khares
HANKS
HK Bunk
Past Arla
Hong
this
The political situation in the Met
French East and the crisis during the early part of this week had its effect on the market, which cased off slightly. Dut as tension lessened, the market started to climb back to a higher level and cloned un n firmer nate yesterday.
Two Gains
Of the 24 stocks listed in the tabte, only two had gains com- pared with four gains fast week. There
ine shares un- changed and 13 lower this week, with 11 unchanged compared ald nine lower Inst week,
were
Hongkong Banks continued ja drop this week losing $12.50 ap-with sales at $762.50 yesterday Noon This share has been going down morning's i for the past month, duc, It is believed, to some organisation bluck of their selling large Book shares. it is not likely that Banks have reached their 1654 Loltam now and will level off. In London, they have climbed from their low of £40.15 lu
£43.10.
Ynice Thayer Sellers
702 70240
INSURANCES
ton, X Launburd.
XI)
SHIPPING
Waterial
↑ LOCKS, ETC.
K WHATE
Dock
has i
London. May 22. Boots Pure Drug Company Gald the the consent of the capital issues committee been received to the propere!, eapitalbation of
And the spare
F
FL
00
“f s
101
300
101
41%
2001
43
.....
11% 11.0
375 G 1145
£2.560000 BAND, ERC.
of 10,240,000; lik Ted. 15 37 138
fully paid ordinary shares
5 each in the proportion
he new share for every Your existing shares held.
The preces pay resolutions
Hirplane 16 19 Reelty
W be submitted at an extra- ordinary general meeting 10 be held inmediately fullowing | s the annual general incetling on July 18, 1958. --Chuna
Special.
· Anil
Living Index
Washington, May 22. The American Goverme cost of Hybog andex tuse 0.2 Marvir and pri went helweoti Aprian cll-time byth of
The 1847-49
123.6 per t
Loaa period,
41
6. Light
1 152
1.40
Unions continued to he soft and, fost another this week,
One of the recent favourites. Hotels fell 20 cents this week. Lands remained steady.
Losses
Most of the stocks in the y and stores sections had fractional losses,
HK Whart
UK Hotels
HK Lands
Glance
May 22
Up or Down -$12.50
steady
السيب
-100
* The Share Market At
ART. ZI
KK Dank Lombard
725
May 1 780
May 8
May 15
77714
774
70234
8234
30p
38
28x
Union
รมหุ่น
73
1224xd
黏
Wheelock
0.056
6.10
0.10
6.10
steady
110
1104
102
102b
1026
aleady
HK Docks
44#
42
4015
42
4036b
-$1.50
Provident
11.40
11.00
11.40b
11.50
11.40
100
19
18.00
18.00
18.00
18.70
3834
3214
3214
2214
8214
stendy
IIK Arally
1.50b
1.50
1.85
1.35b
1.52b
-30
HK Trame
24.10
24.80
24.70
24.70
24.70
stendy
Star Ferry
'110n
112
110h
1116
$115
steady
Yaumatis
65m
D514
05
Bib
-$1
Ch Lights
$7.50
18
1714x4
17.50
17.30
20€
Electrics
20.40
20.80
26.90
20.80
20.00
-200
HI Telephone
26.30
20,40
26.40
20.40
26.10
10c
G. I. Dement
20.30
23
£7.30
22
21.70
-10%
Dairy Farm
10.40
16.30
10.40
10.30
16.10
-20c
A. H. Waison
11.20
10.80
10.30
10.80
10.80m steady
Yang'sze
X.25b
5.45
5.40
6.35b
B.400
+-50
4.375
4.40%
4.40%
4.80
4.50%
+100
Allied
KAFE Inv
10.10n
10.190
10.20
10.200
10.200
teady
Textile Corp
4.55b 8.45b
4.10b
4.525
4.251
4.559
Aleady
8.450
8.55b
8.50b
8.45
©
Nanyang
New Cancer Scare Hits
Tobacca Shares In NY
ALL HAVE LOSSES
New York, May 22,
A new cancer scare hit the tobacco stocks today but failed to stem a rise that carried industrials and rails to within touching distance of their 1958 highs and utilities to a new 28-year top,
rise Glidden Co.....
Goodrich (1.F. C Goodyear Tyre Griman Aircraft Heyden Newplet Corps. Gulr on
Nining Co.
Tobaccos after an early encountered selling on nothing more than rumour that articles scheduled to appear soon would stress the cancer angle.
from American Tobacco fell $877% to $834.
off the latter
ໂດ
Nanyangs closed yesterday of 58,45, a loss of live cents on the 5 Lorillard $694 week, while Textiles remained
5505% off 2; Pluky Morris strady. The reason for the slight drop in Nanyongs is hard from 9554
Innd Steel Co. Instarchemical Camp,
Minenisse Int'l Business Int'l Harvester
to $521% uft 3%;
Internatim Nickel International Paper
to $73%
Ju
& Myers
fo understand, o market mea Reynolds from $70
lieve that they will declare a oft 34: and Liggett 2igher final this year because of from $724 to $88% off 2%. 25
1 better earnings.
The dividend
606 e 9312 declaration is expected at any
175,1 time. 11.00
Amalg Test
UTILITIES Trum
23 13 20
100
330 4
Ferry
112
TO)
and...
12.40 1915 1000
227.10
500
10.04
20 30 2015
1000 1600+
100 21.00
30.20
20.30 Market Diary
H
131,
Arney Cam
37
e-re
Macwie E. Teleptone
INSTRIALS
Comvet
STORES. ETC. Dry 640–18
Wal
Mr
Announcing this today Ewan Clagus, Balmuir Depart- Statistics Comunissimer
men!
aid. however, that same food price were declining and the everal! Hving enst seemed to be levelling off. --Beuley
Lane, Craw
UCTIONS
Textiles Nanyang..
Turnover for the week was compared with
27 $2.03 million tocu vi
1913 27.10 $1.75 million last week.
They regained a part of the
In.
Sustained
American is the only tobacco
In the industrial average which
Tel. & Tel
ma-Manville Co
Kans C. Pawer & Light Kenniccati Copper
Liggett Meyers Tah. Co. Lockheed Aircral!
Loews Incorp,
Lone Star Ceinept Co. Lowenstein Sna McDonnell Aircraft
Stock Expo.) Sfarsbi from Cars. Minnesota Mining
ation Development
(Am.
CHATTER ON WALL STREET
47 The
TEXTILES FROM
CHINA THREAT
TO JAPAN
Loans To
Asia Rise
New York, Stay 22. World Bank loans in Asia. than are running moro $100 million nhead of any
proytoys fiscal year, the Journal of Commerce re- ported today,****
The Ananela daily said that,
weeks remaining
in
Singapore, May 22. with Elx Textiles from Communist the fecal year, loans jo Asia China were posing an in-have reached $274 million. The creasing threat to Japan-previous high was $100 millon
In 1936. esie textiles on Aslan mar-
"The increase in tempa Is due kots, Mr K. Muraoka, argely to the fact that a mum- Japanese Vice-Consul in ber of Aalan member countries have only within the last thres Singapore, said today.
years boen tible to bring their Mr Muraoka sali Chingga development plans and pro- textiles were muen cheaper thou grammes along to a point where those from Japan.
large senle and sustained World The quality of China's blench-Bank lending became feasible," |ce and unbleached textles was said.
about equal to that of the Japo
New York, May 22.
technical markets position remains strong since the inclination to buy stocks is greater to than the desire liquidate them, according to Martin Gilbert, analyst for Alstyne, Noel & Co. The Van Styne firm, analysing Flintkole, describes the company BAL as an expanding producer of building materials and other $415
products and estimates 1958 net may reach $3.75 to $4 a thare autogainst $3.24 in 1957.
2112
Motors
ensante Chemiest Co. Munigamery Ward Motorcia Inc. ..... National Breuit Cu Nartomal Canis Reg. "A" Notional Dairy Prod. National Lead
3011
2512
27
12
6.1
4512
Here is u raarkel diary of the was sustained by strength in metals, chemicals, slovis, olls, week:
Issues, Friday: Prices
special tending to and drifi fractionally ruled, steady to firm.
T/Q: lower.
Tobacco lod in volume with $620,000.
the heaviest traced. Prices
shade Lorrilard
T/D: Minute Maid, J. I. Chac. US. casier.
and National Steci, Bethlehem $610,000. Dull
and feature-Distillers also were active.
10 Monday! 10.581
10.40
137 v 16.20 LOOE 16.40
100 €1
1300
100
100
1:
26.20 16.40
200 1040
Tuesday:
0.13
MISCELLANEOUS
VIUNO 14.00
INVESTMENTS
Allied
4.30
1
les T/O: $472,000. Of the 1,185 issues traded, 5000 4.500 Wednesday: Prices tended 10
633 advanced. 280 declined and harden. T/O:
272 held unchanged. New lgh $680,000 Ruled steady. T/O: were hit by 143 stocks and new
lows by only 0.
Thursday:
$534,000.
COMMODITY PRICES
COTTON
NEW YORK
Prices of cotton futures closed
toaday as folłuws;
Spot: 30 200; July
36.140:
ruled somewhat erratic during i
the morning with some small buyers reported,
Future closings, in Straits cents, fob Malayan ports, were as follows:
No. 1 rubber June
No. 3
July
No. 2 rubber June
June
701-74 73-7716 724-7127
Spot rubber unkaled
Oct:
Blanket crope
LONDON
du båt Dog 29.77; Mor: 37.03: May:
82.61 July: 39,28; Oct: 34.00-07.
NEW ORLEANS
No. nbtæer June
No. 1 pale krepe za
SUGAR
New York, May 22. World No. sugur Tytures to two 743-745 closed one point lower sa-80 points higher with sales of 77 78-00
contructs.
The rubber was easier with
per 1b. Prices:
Isters of cotton futures closed spot quoted at 21-15/10 pence teday me follows:
Spot: 33.10: July: 30.10: Ocs: No, 1 Ras spot. 21-z 36 44 Dee: 30.76: Bar: 37.63: May: 37.57; July: 36.79; Oct: 34, 87.
LIVERPOOL
Settlement outer:
Jing
July 'Srol
In
Det/Dec.
Jan/Mar
Apr/Juße
Colton future
closings pence per tu. were as follows:
American Contract: May/June: 24.50; July/Aug; 28,401 DELNOV: 20.; Dec/Jun: 20.49; Mar/Apr: 26.73; May, June: 20.50
Mial Contract: May/June, 20.15; July/Aug:
20.50 Oct. Nav: 26.00
Dec/Jun 27.28: Mar/Apr:
May June: 25.40.
SAO PAULO Cotton future closings,
27.40
in
etozeiros per kilo, were as fol lows:
July 41.30: Ort: 43. Others ungouted,
In the United States, tas
average prica of one-inch cat-
to o 14 designated, spol mar.
217-22 22-2
21-223
General markets, cif basis, ports: Buyer May
215%-21% June July Estate crepe thin 30 Estate creds thick June 201
-United PrDAK.
METALS
NEW YORK
Frices of metal futures closed
kets was not available-Unites fedpy in cents per b. as fol Press.
RUBBER
NEW YORK
lows:
Leat May
Zinc
July May
July
Copper May
July
Tin May
Juty
LONDON
Stock Exchange New York volume was 2,050,000 shares.
New York Stock Exchange Lord yolumu was $8,670,000.
Stock American
Exchan volume was 810,000 shares
Dow-Jancs closing averag
were;
SA idustrialy
20 ralls ...
15 tes
Gǝ tocka
43 bemus
Comm. ture price index
Closing Prices
Alden Ing. AFT.
Allied Chemicals
Allled Mills Inc.
An Brake Shoe American Altiins
Domestic No. sugar futures | Aillo Chalmers
closed
three unchanged 10
points higher with sales of 70 American Cable & Radio Corp. contracts.
Contract No. 4 (world)
July:
Anetan yansinia Ca Alser. For Power A. Go 4 Electria
Στυλ,
3.47; Sept: 3.45-40 Del: 3.47: March: 5.42: Bay: 3.44 Jy: An.. Fury." 3.44; Spot-jeepts per lb. fob Cuba): 3,40.
Open interests: 7,287 contracts, Contract No, d (domestic) July: 8.29; Bept: 5.52; Nov: 8.81: March: 5.00 Spot-cents per lb. cif NY ex-tuly: "6.00
interest: 2,201 Open United Preas.
contracts...
FOREIGN EXCHANGE
NEW YORK Clasing rates were: England
New Zealand
18! 25/13
0240
10.40
21051
10.40 South Africs
2.83
3.39 Folland
2040
0.30h Argentirin
23.76b Trail..........
0000
25,00
Canadian dollar Tiles:
Spot close....
1.03 17/33-1039/8
03.201
High
1.0317/31-103 0/1
Low Futures 30-days..
Prices of metals closed at the
end of the cfternoon session, in
Rex rubber futures today closed 15 to 30 points lower with sales of ten contracts, sterling per long ton as follows:
Closing prices;
May 19 July: 25.30: Sent: 0.70: Nov: 28,18 Jan; 20.76, 2000-month
May: 2500.
AMSTERDAM
The rubber market was quiet. Quatalipne wero unchanged
SINGAPPRE
The market" "opened maagjer today on overseas advices but,
Tin spot Copper 3-month Lead and half
May Aux Line and half
MAY
Aur.
Buyers DeBers
6-motilhe
American Metal American Smelling A. Buxar Hof. ... American Tel & Tei American Tos. "I' Annoggda Copper- Armes Steel... Arous
Atlas Gona, Mining Baldwin-z-Ham. Baltimore & Ohla Benencial Finance_... Bendix Aviation Corp. Benguet Cona...
Hethlehem Steel
Boging Airplane Borden (Th#} C#.
Burtout Add Machine Cornbell Soup Co.
Canadian Paelle
Care 1. 1) ca.....
Cat. Tractor .............
Celano Coro,,...
C. I. T. Financial Corp.
i Mardist, Bank Chrysler Motors... Cluctt Peabody Colgate-Palmaliva Colombian Carbon Co. Commercial Credit Commonwealth Edeo. Consolidated Basem geneal of af bel Craven Zellerbuck: Caben Amer, Super 1.03 10/64-1.03 25/04amond Alkali
Įlamand Match Co. 1891/39-1.03 3/2
Daugia Aireraft Daw Chemiesla Dupont de Nernotes Eastern Airline Eastman Kodak
1 5319-1.03 17/11 1.03 27/64-1 03 1/2
LONDON Closing rates were:
130 730's New York 153 735 Montrea 170 17812 Amsterdam 100% 150 russela
Copenhagen 135 wránkfurt
719%
43 92 Milan.....
6131 019%
Paris ***** siti Blockholm
United Press, · 1 Other unchanged.
2011-261 11/18 8.1-2.11/10 10.60
Paso National Cas Family Tiende Corp, Miregione Tan & Bihter Ford Motor palat
| General Electels
[General Foods ...
General Maige ver Gen. Tyre & Rubberl
National Steel Corp. New York Coniral Ölin Mailleson O Elevators Gwen-Illinois Glass
Oxford Paper Co. Pacific Gas & Elec.
Pan American Airways
Paramount Pictures
Parke Davis Ca.
renny J. C. Cu
Penn. Bell Go. Philip Murch
Procter & Gamble Co. Pittsburgh Plate Glass Publicker Industries Jure 01
Radio Corporation
Repubile Steel
a
63
14
143
#1
TI
Journal of Commerce reports
50 at their convention that they expect continued selectivity, ih stocks with individual industries 4 and companies getting the spot- BO light based on the earnings out- 523 look and other circumstances.
TA
BIL
Radio Corp. Pret.
Heynolds Mets!
Scors, Roebuck & Co.
Sholl Oil Co,
Saini Reg. Paper
$214
Sinclate Oll
54
Soceny Mobilell
| Bolar Airerost .......
173
South Puerto Rico Sugar
40.24 Southern Co. (The).
201
114.55 Southern National Gau
TU Southern Railway (Com.) 15004 Standard Brands
3742
13
100.11
Standard Op of Cal. 1579 Standard Oli of Ind
1915
4216
Standard Oil of NJ.
Steen ltnck (Toronte Exge.
1016
Sterling Drug Co.
30
Stokely Van Cainp.
1312
Studebaker-Packard Corp.
20
Swill & Co.
Texas Coolers
35% Tide Water Aen. Ou
3
Tue Theouts Film Twentieth Century Yox
17% Union Carbide pompuan.
Union Pece Radway
$ United Altomft ....
TaBrited Gas Corp.
4315 th, Foll."D" BUS. Gypsum SUR, ne Co.
Niber
1US.
44U.B. Smelling
an
178
04
U.B. Bleel
Warner Bros.
Wesker. Electric.
Western Union Tel, Co,
SWITCHING OUT
el
Moody's advises switching
of out
Otis
Into Elevator Standard Ol (NJ), ou! Vale & Towne into Combuston-
DUL. Uf Elve Bag neoting, and trie Auto-lite into Constrıstan- Engineering-
Dividend
meetings tomorrow Juctude General Elstrie, Leit Fink, Montgomery Ward and Union Pacific,
E. F. Hilton & Co. analysing 'General American Transportu- tion, looks for dip in tou
mpany's manufacturing re- venues and a risc in service revenues so that overall earn- stand-off com- 1857.-United
Inge will be a
paired
21 Prest.
100%
301
1015
37
4475
-United Press.
383) (West Me, Piúp & Paper
Woolworth
WANTS TO BUY FIRM
London, May 22.
with
Singapore Stocks
Singapore, May 23. Brokers today quoted the following mock prices;
Opening
$1.07%
| Batu Lintang Rabber Co.
British Borneo Petroleum
Byndicate Consolidated Tin Sellers
Ord
Trame & Neave Lid. Ord, 1.50 Fraser & Neave 7% cum.
Dret.....
14.03 Csemana (Malaya) pinsited stat Jongkong
Shanghai
Banking Corp.
in Ltd. Lia.
Kuala Kampar Tin... Luna Rubber Estates Ltd. 107 Balay Browerica Now Berandan Rubber Co, Petaling in Ed. Raffles Hotel Singapore Cult Biraz stralia Trad fram
Steamship
The Standard Motor Company is making a bid to acquire the holding company for Mulliners, the specialist coachbuilding Arm, it was learned today.
The directors of Mullins (holdings) Limited art.ounced liat Slaptards west offering lo sagequire the company's entire Mail! Boecial.
sasut shate copilul.
001
136
They
united Engineers Ord.
Weline Bro
etimday.
shərə recommended.
* holders to accept the offer.
Mulinwa are roachbuilders for quality cars like Rolls Royet arki kntley, with mills and premises at Birmingham,
fedi
Exchange Rates
škiaiḥass was done in the local
2 market unamelat exchange morning at the following eates:-- V.B. dollar (per $12, Starling noter" (per" £1) Australian macar com LL. Indonesian rupiah (per 1001 Mail Biam Ucal (per 100)
Singapore trattaz
They have an authored, capi |tal of 4800,000.---C
Special.
nege producin, he sald, for printed textiles, however, those from Japan were superior.
PRODUCTS
COMMITMENTS
Loans pince the Bank's first commitments in Asla in 1049 have totalled $873 million, divided as follows: India. $322.0 million; Pakistan, $120.4 million; 121.3 million Thailand, $106.8 mildon; Japan, Japan supplied Malayan dollars (about £142,0 mlkon; Iran, $75 million;
worth million sterling)
or Lebanon, $27 million; Philip- fexile products to Malaya in
pines, $21 million; Iraq. $10.0 milton: Burma, $19.2 million; and Ceylon, $10.1 million.
1957.
India Was next with 30.4 million dollars (aliout £3,540,- 000), and China next with 21.1 million dollars (about £2,400,- 000),
I said that Joan commiíments in Asia will near the bilia mark when two Indian loans, already
two approved, and China's share had rizen about electric power loans in Japan 20 per cent on the previous have been fully nego!lated, year, Mr Muraoka said.--Reuter. 'United Press.
AMERICAN UNEMPLOYED
Washington, May 21. Mr James Mitchell, American Secretary of Labour, said today that the number of workers unemployed for long perioda was increasing rapidly, Testifying before the Banking Committee of the Hound of Representatives, he said that
In mid-April there wore about
workers who 1,900,000 been unemployed for 18 weeks or more.
"This is a large number and it has been increasing rapidly in
months," he added. racent
Router.
B•I E.A
PO B
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Outwarda "CORFU" *"“SALBARA”
"SINGAPORE" "CARTHAGE"
"SOUDAN" *CANTON" KHYBER"
Nomewards "CORFU "HUNDA" *
Leaves London.
Dua Hongkong
Bailed 4/4
Inde
Balled 16/4
40 June
Sailed 0/3
178: Jun
30th June
7th June
19th July
23th September
2811 July
10th June
5th August
2011 MKT
Leaves Hongkong Que Londpa
0th June
Bth July
23rd July
14th June
"CARTHAGE"
4th July
5th August
"SINGAPORE" *19th July
14th August
*
"CANTON"
1st August
*SOUDAN” *
18th August
1st September
25th June
*
Via 'pore, Prasar, Colombe, Bombay, Aden & Pt. Brig * "RUNDA", "BINGAPORE" and "BOUDAN" esi) 6'porn, PL. Swet.. Penang. Adem. 't. Bald, Havre, London, iamthurg. Rotterdam & Antwerp.
BRITISH INDIA S.N. CO., LTD. “FUĻTALA" Que 24th May
"OLINDA"
undle 24th May
dus 25th May white roth, May
from Calcutta, Chitta- RUDE.
Hingapore
TOY Japan
Manzoon
trom Japan & Shanghal for Singapore, Penang.
Calouste Jangdon.
Chittagong
P. & Q./B. I. JOINT SERVICE
"PACHUMBA”4n* 22nd May
"ISMAILA"
"IKAUNA"
"ITAURA"
salle 23rd $lay
dus 20th May Baits 30th May
du 10th June
Palin 11 June
dun 29th June
kaifs Ziet Jund
from Bombay. Costain,
& Singapore
for Japan
from Japan
for Singapore, Karachi. Kuwait, Basrah, Khor tamahahr & Dubal
from Bombay, Cochin, Tuticorin & Singapore sor, Japan
from Thounagar. Dem- bay, Cochin, Proang & Singapore for Japan
S.S. CO., LTD.
from Japan
EASTERN & AUSTRALIAN
"ARAFURA" In Pori
Kaila 25th Mag
"NELLORE” dur Nh June Jälle 13th June
for Labuan, Sandakan, Belbane, Bydney, New- casue
Blekbourne Adelaide from N. Chine for Labuan. Bandukaṇ, Brithane. Bydney, Mel- boume & Adelaide
•
All venne harp Uberly to cali st any porta pu or off the roule à tha route de saijings ara gjbjtet to change or amendment with dr without nollen.
For full particulais apply to i MACKINNON MACKENZIE & CO.
OF HONG KONG LTD. Telephone Nas: 27721-4.
*