**THE CHINA MAIL
FRIDAY, JULY 11, 1958.
Ice House St Turns Quiet COMMODITY PRICES
Trading On
Small And
A
Narrow Scale
By A SPECIAL CORRESPONDENT
HK Rank Lombard Union Wheelock HK Whart BK_Docks Provident *II Hotels
FOREIGN EXCHANGE
NEW YORK Closing rates were:
England omelal
30-days
Bouth Africa
1-3/10 2.00-0/18 2.00
No. 1 rubber per 1b. July
2794-18. May/June A 773-7791 | July/AuKE.
cs-20 00-00
7771-75
No. 1 rubber per 1o. Jully No, 3
No. 4
Bpol rabber unhaled
Blanket coepe
No. 1 pale crepe
LONDON
585-0014
The market was easier with spot quoted at 2 13/10 pence per
16,- Prices:
No. 1 How spot. Settlement house teema!
2234
★ The Share Market At A Glance ★
June 12
June 19
7824
195
.30
29n
72
7434
June 26 705
29m 75
July B
400x
July 10 703
Up or Down
$13.
203
29л
steady
754
780
steady
-6.25
0.20
འ...
0.20
6.15
steady
Conada
102a
101
10134m
1030
102
-31
41
4131
43%
432
42n
-$125
12.30
12.30
12140
12.401
20-days
2.78-13/14
12.40m
slcady
Oct/Dec.
New Zealand
2.70-9/16
Jan/Mar
20.00
21.20
21.60
21.80
22.10
+390
2.00-15/10
April/June
HK Lands
3314
3334
3314
13
-250
Olhors unchanged
July/Beph.
HK neaky
1.825
1.00
1.075b
1.70b
1.7011
steady
LONDON
IIK Trama
26.10
28.30
20.70
28.10
20.80
+100
Closing roles were;
General marketa, cif basis, port
July ...
New York
Star Ferry
112h
112b
114
1150
1136
Montreal
8144m
95
99%%m
08
95m
300
Amsterdam
2,2014-2.00-9/10 1.60-
AUE
Sepe
Estale crepe thin July........
thick July
17.80
17.80
13
19
18
steady
2316-33% 231-23 251 ZAVO V.P.I.
Frankfurt
Electrica
28.20
28.30
2814
2014
28.10
Milan
HIK Telephone
27.40
27.40
27.70
201
20.40
--100
Paris
.. Cement
22.00
23
2314
23.10
23.10
alexdy
Stockholm
Dairy Farm
17.40
17.60
17.50
17.40
17.50
+100
irs be
the market,
12345
A. S. Wal
10.00
10.30
1150m
11.40
11.20
--100
6.75
6.80m
5.85h
$.85
5.05m
+100
Yanglaze
Allled
4.30b
$.50b
4.600
4.60%
4.575m
-20
HK & FE Inv
10.50n
10.50
10,500
10.80%
10.c0m
steady
Texullo Corp
4.00
4,00b
4.05bxd
4.10a
4.15
Nanyang
7.80x4
7.90
7.70
1:700
1.700
The Hongkong Stock Exchange experienced one of its quictest weeks this year with trading on a small and narrow scale.
The Hotels
continued The depressing effect of Announcement of the proposed strongest stort en trw of whores by the gaining 30 cents this week. Telephone Company at a pre-
£1.2.6 Bark' Interim of mium of $5 won stili evident on
Inst 5 Inercase over the market, which seemed bave lost the incentive of pre-interim-was well received on the markel this week with the shares price rising $5, Phone
vlous weeks.
The price of hovered between
$26.00
$20.10 during the week.
10
hod
year's
One of the highlights of the They week was the marking up of closed yesterday ki a afondy Rubber Trust and Amalgamated have Rubbers, both of which $20.20.
Jower-been quite netive. Trusts hard a
Al 20 cents while market, a
10 Increased Amabanated ecntn.
Despite the deneral ing prices on the
HONGKONG STOCK
EXCHANGE
Our Own Correspondent
Business done on the Itong-
Stock
th;; Exchange morning amounted to approxi- nately $827,000. Noon quota- tones and the moring's frule- actions were:
Mbares Bayer Seller BANKS
Nales
700 70715
JIK Bank
INSURANCES
Caber... SHIPPING Water.
(17
20 0.43
5410
G 16
TC.
K Whort
10% 100
Book
47th
Joviet.
12.10 12.40
LAND, ETC.
Jik itotel. 23.19 22.30 3007
Euplago 10.50 15.30
RUBBER
Ama..
Teusl
A. Towel
Sungal UTILITIES Tra....
Star Ferry Yotunju
500+
2600
1500 p 2390
Turnover for the week million compared
$4.79.
with
$2.14
million last week.
Tully WN
five algher, ning unchanged and
ten lower emred with six
11t 112441 higher, trie
nine lower Jast week
Incentive
Here is a
observer's
market;
Yaumati
Ch Light
+50 steady
U.S. STOCK RESUME
ON
ADVANCE
WALL STREET
New York, July 10.
increased
The Hong Street Stocks resumed their advance to new highs
the
Lack of Meralive led to generally quirter
conditions
volume today.
The muket quickly got over on the Stock Market this week its shock of yesterday when the Turnover Ford Motor Co. cut its dividend with
overall C amounting to approximately by one-third in a surprise move. Ford, after dropping nearly $3,789,000 million
Apart ITOM Telephones three points yesterday, held to firm today, Other which see-sawed from $26.20 steady up to $26.80 and track la motors did little more than hold $26.20, prices gearrally show their own. ed very little change from the previous week's close,
China Underwriters
an exerpilon, however,
A number of individual strong spots developed in the were afternoon, Richfeld
Closing Prices
Aldro Inc. Acy.
Alded Chenickin
Allied Mills Inc.
Allis Chalmers Am. Brake Shoe American Airline American Cyanamid Co. Auser, & Fargn. Power
A. Gas & Electric A. Die Prod
Am Machi, & F'dry American Aletal
American smelting
rose morem, Sugar Ret. and than two in the oil; Schering | Amerleun Tet, & Tel.
sbarra changed hands at $9, Jinore than two In the drugs; Amran Tab, “U”. but only two or three transac-Borrieu throu in the foods: Ananda Copper....
Amaca Steri flous were reported during the Adressograph three in the office Arnos, Me whole week.
equipments; U.S. Gypsum two Atlas fulbers
Armerin the building group; Du Pont with Amalgamated and Rub-two In the chemicals and J.L ber Trust showing slight. Im- provement.
continued
Dividend announcements during the week were:
HONGKONG AND SHANG- CORPORA- HA BANKING
TION-Intertm of £12.0 (an Increase of S in last year's interim dividend),
HONGKONG FAR EAST
INVESTMENT COMPANY-» dividend of 80 cents (an in- crease of 5 cents, over
2010 2.20
HK Land.
2006 13 314 3150
1700 v
on
1.00 1.03 -2007 12
1.TA
4000 2
1.85
4000
1.06
10075 1.773
2.70
1.10
10
2.94
112
2
200 60
DO
: 10.10
2000 6 16 10
10
Lon
18.10
500
10.10
500 10
18.30
Electric Macau & Telegalnog
2.0 20.30i
9.25 9.45 24.40 2000
1000 500
20,30
214 Friday:
23 .30
Monday:
1714 3.70
TUNO A
1745 17.00 Tuesday: 11.30
40
year's dividend),
Market Diary
last
Here is a market diary of the
Y3+ 20.20 week:
INDUSTRIALS Cement Amy tatt. STORES, ETC. Dairy'
Watson 11.20 11.40 1000
Lane, Craw
COTTONS
Textiles.
1000
4.12
Мапут
7.NU
MISCELLANEOUS
Bitert....
Vibro
INVESTMENTS
LB30 14.10
50
*
100 5.90
925
Yangtze
Allia
Telephones recover
slightly. T70: $1,391,000.
Quiet conditions.
T/O: $527,000,
Shade easter with phone under slight pressure. T/O: $940,000.
Wednesday: Dull and feature-
loss T/O: $611,000, Price movement limited. T/O: $314,000,
Thursday:
THE SYMBOL
of
SECURITY and SERVICE
ATADILITY
SECURITY
HAVEEX SAVING BERVICE
Sond
6%
Interest Assured Assots exceed £23,000,000 No tak of Depreciation No Charges or fees Convenient Withdrawals
DEPOSIT ACCOUNTS Interest paid without deduction of United Kingdona income tax
day for "Dank Deposit Account" Booklet
No. 40.7 trom General Manager
LOMBARD BANKING
LIMITAD
BANKERS
POCKET CARTOON
by OSDERT LANCASTER
**Quite frankly, Fenchurch, our efforts to get the public to took upon the Stock Exchange in a new light are not going to be materially assisted by yOUT going round asking all and jundry if they know the one about the young lady of Frinton!""
Cuse more than a point in the farin implements,
Kansas City Southern led the rails higher. U. S. Steel run up point to top a firm steel group. Boeing and Curtiss- Wright led the aircrafts up.
New High
Baldwin-Lim-Hat
Bencriptat Finance
Baltindre & Onio
Handlx Aviation Corp.
Benguel Cona.
Bethlehem Steel Being Airplane
Borden (The) Co. ...... Burroughs Add Machine Campbell Soup Co. Canation Porto it.
Case J. I.) Co.
Cal. Tractor ..
Celanese Caru.
C. I, T. Financial Corp.
Chrysler Molom Cluett Peabody Colgate-Palmolive Co. Columbian Carbon Commercial Credit Commonwea!! Elec. Consolidated Edison Continental Oil of Del Crown Zelierbach Cuban Amer. Sugat
Diamond Alk!
Blamond Match Co
Douglas Aircraft
Dow Chemicals
Ford Motor ......
General, Dynamics
General Electric
Foods
General Motors
Gen. Tyre & Stubber
Getty Ou
Gidden Co. ...
on
Texiram Inc.
Tide Water Ash L
Time Ire.
1814 Tri-Cont. Warrants
111
Twentieth Century Fox Film
315 Union Carbide
254
Vidon Oll of Caf.
39 Union Facile Railway
41
Unileil Alrcraft
Untied Gas Comp
13:4 U.A. Full "3" 4. US. Gypsum
1991 US. Line Co.
39.S. Rubber
2.8, Stocking
421 U.S. Bierl
2014 US. Steri 1.CPP
Warner Bros.
12
07k Westinghouse Air Brake 492% WoUngholme retrie
Western Union Tel. Co. West Va Pulp & Paper Woolworth
CHATTER ON WALL STREET
Brussels
Zurich
Others unchanged
10.0035-50dt
159.23%-1.30.MYES,
11.681-11.03% 7740-174034 11789-1123 14.45) -14.40 12.2296–13.2133
dull.
--U.P.I.
RUBBER
COTTON
NEW YORK
Prices of cotton futures closed today as follows:
3655
38.33
3387
3723
11.13
3024
SAO PAULO All prices unquoted today. In the United States, the average price of one-inch cotton at 14 designated spot marketa was not available,"
Total salen werd 29,182 bales. U.P.I.
SUGAR
New York, July 10. World No, 4 sugar futures closed today unchanged to one point lower on sales of, 171 con- tracts.
Domestic No. sugar closed unchanged with sales of 04 con- tracts.
Contract No. 4 (world) Hepi: 9.30: Nov: 3.38: Atar: 3.58; May: 3.38; Sept: 3,33 Des: 3. Spot-(cents per 1. fob Cuba); 5.40.
Open Interest: 6,410 contracta,
Contrast No, G (domestic) Sept: 5.35; Nov: 8.70; Mar: 5.60; Spot-(cents per 1b. eit NY az-duty): Open interest: 1.912 conténċta. —
METALS
NEW YORK
Prices of metal futures closed
Lead July
Stot
July
Ocf.
NEW YORK
Doc
Rex
rubber futures today
Mar
closed eight to 25 points lower.
May
July
Closing prices;
Oct.
July: 26.35: Sopt: 3.7; 20.03; Jan: 20.00; Mar: 20.50; May: 20.48 July: 29.45.
Nov:
Dee.
NEW ORLEANS
AMSTERDAM.
Prices of cotton futures closed
The rubber market was very Pricra closed today in
today as follows:
33.10
Spor
30,00
July
guilders per kilogram, elf July
Oct
today in cents per lb. as follow:
10.100
15 follows:
Drs.
Mar
Sept.
10 300+
1.20 by
Zine
July
0.586
No. 1 rubber
2.18 buyer
May
Sept,
1.652
July
No. 3 rubber
1.94 buyers
Copper July
24 POD
2.49 buyer
Det
Eept.
2011
Tin July
Sept.
92 674
Lodby
5
Bayam Sellers
F10
7314
7311
1934
No. 1 rubber
No. 1 crepe
SINGAPORE
The market opened slightly lower and eased further on o quiet market with some federa- tion liquidation,
Future closings
European Free Trade Area Agreement
London. July 10.
Unless substantial progress is made by the end of this month, there is little hope that a full European free trade area agreement can be reached by the end of this year, authorita- tive sources here said to night.
The sourers added that failure to reach agreement by the end of the year weak not mean breakdown, but it would make villmate agreement more dif- ficult.
The free tinde area negotia- ttons have been deadlocked for several months.
COMMON MARKET
The Foreign Ministers of thei six common market countries- winee
tarik first
reductions becoine dus on January 1-are meeting in, Paris on July 23 to try to reach a common attitude on the free
under the scheme
Committee
17-nation Ministerial on the free trade
New York, July 10. The recent type of action is not indicative of a fo- vorsal in trend. Rather it suggests that the markat is ready to perform as it has in the past, resting for a while after reaching new pooks. In other words, the list is likely to consolidate before moving up again, thus repeating its top-rade zone.
The like performance in effect since last October-Van Alstyne Moel & Co. Broker's loans how reflect the the influence of growing
rowd" and it is me to think stock tegarding individually
in purchases, with an eye to 001terim market deviatlón possibi les. F. Hutton & Co.
Marquette Cement Manufac- if Agured turing Co. carnings under the new depletion method, an well approach 3.74 for 1858, against 2.71 in 1987,
im d with finances vastly
the likely that Best proved it is
dividend rate may be increased to 1.80 annually Joseph Faro} Co.
601
Dupont de Nemours
107
Eastern Atel
Eastman Koduk
11340
El Paso National Gas
Firestone Tie & Rubber
50
01
P
3012
Balk
Orunima Arenas
213%
1171.
123
Honestakes Mining Co. Ingersoll Rand
Imerchemical Corp.
Int'l Business Machines
7011 4311 30011
1013
3736
Gedrich (BF)
Coorlyer Tyra....
Heyden Newport Czep.
Innd Steel Co
i'l Harvester
International Nickel Internasional Paper Int'l Tel. &e Tes. John-Morille Co.
Kaiser Indust&LACHA Koruna C. Kenmocota Copper Liggett Meyers Tob. Co. Lockheed Aircraft
Lone Star Cement Co Lowenista & Sons,
Nasl
Trust Co. McDermott J. Hay McDonnel Aircraft
Block Exgc.) Moshi Iron Corp. Minneola Mining Minion Development Monsanto Chemical Co. Motorols Inc. Montgomery Ward National Biscuit Co. Naitonal Cash Reg,A National Lead National Dairy Prod. National Steel Corp.
Sorth Western By,
13%
Am.
5714
New York Central
Anter Aviation Nurt-west Afilies(Com.) Olin Mathisen Otis Elevators Oxford Paper Co.
Haitrond shares rose to a new high since Oct. 9 and utilities since Sept. 25, 1930. Industriols only made up a small portion of the previous session's "las.
The leading issues registered small gains for the most part although Du Pont managed to Jump
two points. The best ‚gains' centred on speelal kesues.
The market gat some help from a rise in automobilo vut- put ilmated for this week, Pacifig Guy & Elec. firmer steel scrap prices, award- Part Alberican, Airways
Paramount Picuires ing of some defence and a riso Parke Davis Co. In earnings for American Tele-Femy J. C. Co. phone. Long term US, Govern- Perm. Bait Co.
Procter & Gamble Co. ment bonds moved higher on pittsburghs Plate Glast announcement the Treasury had | pure oll ..******* been a big bayer of an issue ftatio Corporation involved in the Jume anancing. Hedly Corp. Pref.
Taytinkds Metzi slipped to 2,510,000 Sears, Roebuck & Co. Volume from 3,030,000 yesterady. Of Shell Oil Co. v...
510 wera Sønt Rog. Peper 1,149 Issues traded,
Sindlair
bigher, and 344 lower. On the American
त
Socony alabili Exchangeolar Airents
males dropped to 750,000 shares south Pur
from 780,000 shares yesityday.
Bond volume'
amounted
Head OfBoo; LOMBARD HOUSE, CURZON ATREET, PARK P1,170,000 against $5,200,000
LANE, LUNDON, W., ÓRO 4111 (30 lino)
Amociated Bank:
LOMBARD BANKING (Far East) LTD.
UNION ELDG, SINGAPORE, P.0. DDX 2886. Tek: 29227
A World-Wide Dunking and Plugins Organčiarku
ico
Soubor Co. (The)
| Southern National Gua
1 Bouthern away (Com.)
on | Standard Branda
tandard Off of Cal
Dow-Jonts closing averages Standard Oil of Ind.
Wednesday,
WITC
30 Industriais
To retulitika
OS stocks ***
40 hond
Comin, tate prive index”.
Chand out a N..
Sheep Rock (Toronto Exgs.
410.00 || Bjøring Drug Co.
10.51 coly-Van Camp.
10.pe Djudebaker-Packard Corp. 100.24 HARUKIMYN MALATH
199.54 | mwili & 16.
136.11 Teena 04.
COULD RECOVER
American Breadeorting-Faru- mount earnings could recover 10 around a rate of $2 a.share by
and current 73% next.. year:
$1.
dividend rate would be restored
to 1.20....Columbia Broadcast- 384 ing earnings inercored from 452.13 In 1950 to 2.82 Last year, 6592 Pk with so favourable comparison
41
6316
ish and 1 expected for 1950
dividend could be boosted from 10. 1.20 next year-Harris, Upham & CO,
Award of Nose Cone contract
mater the Minuteman for continental ballistic missile to be made by end of this month.
ant
435 Proposals have been submitted Motors, General by General Eletric, Douglas, Avco Ford-Aviation Week. Linois Power comings in 1958 are expected to exceed $2 a share, against 1.93 last year and pending applications could Add about 40 cents a share an- nually-Paine, Webber, Jackson & Curtis-UP.I.
81
Exchange Rates
area-whose proposed mid-July meeting has been postponed may meet about the same time,
There is clearly a strong ap- preelution in political cireles
that here
pre- the urgent occupations of France's new de Goulle Government have allow- ed it little time so far to take a position on the free trade area question.
But there is evidently hope that she will be ready within the next few weeks to do some negollating on it.
The free trade area will be one of the leading topies of the Commonwealth trade and econo- mic conference at Montreal In September-China Mail Speelt.
Restraint By London Investors
London, July 10.
The announcement that the June steel production was 10 per cent down on year ago and the over- night news of a sagging Wall Street restrained in- vesturs today.
However, the markels were firm and the recent investmont expand. buying appeared to
The highlight of the day was o sharp advance in gilt-edged
Undated issues closed up to: 7/10
higher while gains to dated issues extended to 3/16. GERMAN BONDS Buying of Germen bonds pers sisted and prices advanced more thon two points.
Japanese algu ntivavcol, There was good rotéclive de. mand for industriais and my 6.70 of Hie Kafers stored with use- 10gful gaz,
In the cent Burke was done
Inarket tinelal exchange inorang at the following ruler: Ua dollar iper (1) arritu
Sterling nates (per £1. Ausreden notem (par 21)..... Indonesian rupiah (per 100) .. Tijk Bingapore (Siraiter
2570
Gold shares were quietly fi 'Coppers' wero dull. Ol lont
1.00 ground.-U.F.I.
LIVERPOOL Collon Telure
98822200
ith closings
pence per lb, were as follows:
American Contract
July/AuR. Oct/Nov,
Dec/Jan
Mar Apr May/June
Jul/Aug
July/Aug Oct/Nov. Dev Jan, Mar/Apr.
*
*
*
*
*
*
Mixed Contract
LONDON
Prices of metal closed.
120714h
in sterling per long ton
24.03
24.95 follows:
23,5| Tin
20.45
Copper xput
3-uoalh
3-otli
Lead ist hall July Lead ist half Oçl. Zine lethal July
Zine ist half Oct
PO BI EA
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N, CO. ¦
OBIWARDS "SOUDAN" *CANTON" *KHYDER“ "SUKAT" "CORFU
Leaves London Balod B/0
Salled 25/3 Sailed 20/0
7th July
Brd July "KARMALA”
15th July Homewarde Leave Hongkong "SINGAPORE" » 211 July
"CANTON"
"ROUDAN” "CORFU"
"SURAT" ♣
Due Hongkong 18th July Bath July 14th August 18th Auguri
25th Aug
4th September Dus London 29th August
1st September
1st Auguri
18th Auguel
25th September
29th Augus
17th September 23rd October
29th September
Via B'poro, Penang, Colombo, Bombay, Aden & Pt. Hald. * "SINGAPORE", "JOUDAN" 104 “SURAT" call 6*pore, F. wet, Penang, Aden, P. Gald, KATTS, London, Hamburg, Rotterdam & Antwerp.
BRITISH INDIA S.N. CO., LTD.
"FULTALA" in Port
anila 11th July
"BANGOLA dus 25th July salts 20th July
dur 29th July Wail 30th July
"ORDIA"
from Japan
lor Bingapore, Penang. SLADKOR,
Calcutta
Chittagong
from Japan!
for Singapore, Penang, Rangoon de Calcutta
(тага зарал
for Singapore, Penang, Rangoon, Calcutta, cult taxong & Chaus
P. & O./B. I. JOINT SERVICE
*FACHUMBA”in Fort
tally Lith July
"URLANA” due fic July
-Kalle 11s July
*HUIMÁRIA”
due 17ils July
smile 1997 July
from Japan
for Bingapore, Young, Madras, Bombay, Bhau sagar & Karachi
from Bhaagar, Kata- chi, Bombay, Cochin, Tuticorin & Singapore for Japan
from Karachi, Bombay, Cachia, Бідлароте
Car Nicobar
for Jaben
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NANKEN"
*
"EASTERN"
Ane 13th July' salls 10th July
due 22nd July Kalla 241 July
tram Japan for Labuan, Sandakan, Brisbane, Sydney. Afel bourne & Áditalde
from Australia
for Japan
All venelg bawa liberty to call at any porta sa or off the route & the route & mitings szò rubject to dinage or antendment with of without notice.
For ball particüler, apply tes
MACKINNON, MACKENZIE A CO
or HONG KONG LID.: Telephone Nos: 27721 4.