THE CHINA MAIL, FRIDAY, JULY 25, 1958.
Pago 0
MARKET BECOMES STABLE Further Cut In
HONGKONG Selling Spree
Tapers Off
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Slock Exchange this morn- ing amounted to approximately $470,000. Noon quotations and
POLITICAL NEWS AWAITED
By A SPECIAL CORRESPONDENT
the asrning's transactions were The Hongkong Stock Exchange was holding
Whates
HANKY
JIK BANK XD".
INSURANCES
Wheelock
Luyeta Bellery
705
קוד
•
0
610 3000 4
0.00
Бой
0.5
GOD
4115
10
12 2000
11.00
21.0 2190
DOCKS, ETC.
Dock ...... 4117
Provident.
101.
LAND, ETC
ik Hotel
31.79
HK Land
Humphreys 15. Really.
X Al.. 1375
XUMBER
'Trust
A. Tawah
Sunkoia
UTILITIES
Trom
Amali
Star Ferry
Yunani
2
1.60 1.575
1.00
ות ?
1000 KM 21.50
So 21.96
500 v 21
100
FIF
1000
200 U
100
20 241 )
IN
1000 De
20
Arch
26.30
1900
5000 65
3 110
200
►
Tight
(0)
17 1
1000 12
Electric
.. 27.20 27.31
INDUSTRIALS
004 4
100
17
500 N 2730
420
son
steady towards the end of this week after the jittery selling of last week. Selling which started last week due to the Middle East crisis has more or less stopped and the imarket yesterday was reverting back to its normal state,
It is expected that it will im- prave with better political news. Banks lost $7 this week offer being quoted ex-dividend at $782,60, while both Lombards and Unions remained Inactive.
Both Lands and Hotels rew [awlned unchanged for the week," |while Reallies were still up 24 couts after being quoted ex-ali yesterday at $1.375 on a seller's quelo,
Utility Section
The Stock Market has been largely dominated by the sligation In the Middle East, displaying a somewhat irre- gular tendency at the begin- ning of the week.
However, sentiment showed signs of improving on Tuesday as prices made Might Ic- coveries to near the previous week's closing levels with slendier undertone prevalling when trading ended yesterday
Business has been on a fair scale and setting pressure has been light.
Market Diary
Here is a market diory of the
Friday:
In the utility section, most of i 955 the stock again showed losses on The week with Electrics taking a 1740-cent drop to $27.20, while 11.00 Yaumatis fell $2.50 to $95.50. 2150 Telephones, however, which week: 2720 have been losing steadily for the 2007ast month due to the proposed 100 23rew issue at a premium of $5, 2006 2500|climbed frota their low of $24.00 2012 ring the week to close-yester-
Phones 22.00 day ut $25.00.
were 60 ene of the few gainers on the
Jumrket this week.
LOK
Telephone 25.127
20
Cement
CATE
30%
Andy Cant.
STORES, ETC.
Date 17.10 17,50
311, 11
17.20
17.20
300
17.20
17.20
JON
17.20
3000 1100
900
Waten
Ian raw. -15 999 1590
INVESTMENTS........
Alited.....
45715
4.
Renewed Strength In Gilt-Edged
London, July 24.
The outstanding. feature of today's Stock Exchange was the renewed strength in gilt-edged securities. There were advances around extending to well OVET
PRODUCTION
"Ladies and gentlemen our policy of ploughing back all profits is at last bearing fruit /**
Prices inclined to
ertoelic movements:
HK Bank Lombard Unibh
July 24
70234x8
★ The Share Market
At A Glance ★
Up or
June 20
July 3
July 10
705
BOOK
708
July 17
1872
Down
29n
Zon
Zon
200
212
steady
16
7814
75341
78150
YAB
steady
4.20
6.18
0.31
B
ob
sieady
101
1030
1028
1021
100n
4334
#834
42n
41
4ib
12
18.409
41,80
21.80
12,404 22.10
12
11.00
22
22
334
331
B3
32
32#
1.076b
1.70b
1.700
1.65b
20.70
28.70
20.00
201
***JA steady -100 steady steady 1.375bia +2340 20
114
113b
11
113
steady ++$2
99 im
8874
*8m
98
0014
--83.00
18
18
18
17.60
1734
-10%
i
2814
28.10
27.00
27.20.
-100
2014
20.40
25
26.80
++30%
231
23.10
23.20
23.200
22.70m
-500
17.50
17.40
17.50
17.30
17.20
-100
11.50m
11.40
11.30
11
10.901
-100
5.851
5.85
6.95m
Оп
steady
4,800
4.009
4.575*
4.576n
4.575N
10.60%
10.00%
10.000
10.000
10.80m
4.05bxa
4.1on
4.158
4.025
7.70
1.70m
7.40%
7.70n
45 7.70n
Elettrici
HK Telephone
G. 1, Cement
Dairy Farm
A. B. Watson
Yangiszo
Allied
IK & FE Inv Textile Corp Nanyang
2814
27.10
steady ready -2440 steady
AMERICAN MOTORS
TO NEW
PUSHED TO
HIGH IN NEW YORK
New York, July 24.
Irregular tendencies. A flurry of activity and strength came into American Motors
T/O: $751,000,
Monday:
Tuesday:
T/O: $1,032,000,
Sentiment showed
alight improvement.
T/O: $1,000,000.
Wednesday: Quietly steady.
T/O: $313,000. Thursday:
stock today as a late feature of an active market. in new high ground for 50 months.
Case (3. 1. Co.
A rush of buying, hit Ameri-facturing, Staufer Chemical, Carludion Pacific R. can Motors when the company Caterpillar Tractor. Heynolds issued its earnings statement. Meinis
Bowes
..
No material change. TVO: $600,000,
For the first half of 1958 Ameri- | Chemitats, oils, selected cun and earnings of $14,543,ato į tuled, strong. for $2.01 a share. That contrast-
and Fliney
steels
Closing Prices
19
OILFIELDS INed with a net loss of $8.461,920
OPERATION
In the 1957 period.
the
When American moved for word toward a high for year, activity developed in Landon, July 24.
Studebaker-Packard and that Operations of the Iraq Petroue score a small gais, learn Company's oilfelds in the
Chrysler, whose former Middle East Kingdom are after the close to act on divi- continuing tormally, according dends and issue the first half- to a spirt from the fields re- celved at the Company's London Headquarters today.
yehr
directors meet
report, ruled
firm ant
Generi Motors made a small gin. Ford, which reported re- cently a loss of $17,300 million for the second quarter, held
Allen Inc. Acy.
Alled Chemicals Allied Mids Inc. All Chalme A. Brake Shoe American Airline Am. Cable & Radio Corn. American Sanxenld Co,
wer
Aner, Forry.
Am. Mach. BE} American Metal American Sanvelting A. Sugar Raf.... American Tel. Tel American Tob. "13" Anaconda Copper Arinco Steel Armour Atlas Cons. Baldwin-Lima-lam,
Mining
Cat. Tractur
Celanese Com.
C.LT, Financial Corp. Chrysler Motors Chell Peabody Colgate-Paimoitve Co. Commercial Credit
Commonwealth Elve. Consolidated Edison Crown Zellerbuch
193) Cuban Aner. Sugar
Diamond Alkal
30
2001
Diamond Maten Co.
50?.
Dow Chemicu la
21
477%
15
37
243
Dupont de Nemours
Eastman Kodak
Family Finance Cup.
Ford Moor
General Dynamico
General Electric
General Foods
4417 General Motor
127
Gen. Pub, Uni.
Gen, Tyre & Rubber
Glidden Co.
Goodrich F.) Co.
Goodyear Tyre
Grumman Airemati
Heyden Newport Corp.
Bank Rate Expected Soon
R
By SYDNEY GAMPELL
London, July 24. Presuming that charity begins at home and that"
the British Government takes the advices that It gives the world, a further cut in Bank ráte and an easing in the pressure of funding sales on the gilt-edged market should come within weeks.
Were it not for the threat of combatting Inflationi-that, was dock strike and the other the meaning of the measures of similar rumblings, both case-July 3. The new formulation rents might have come during pule ansit-renewien poilėy be- the week ending July 14.
fore anti-inflation policy.
Given enough such heaven4 sent threats and rumblings, the orlds would be on a tax-culting aulum budget (with core such sweeteners as repayments of the postwar credits) and then on an carly general election to return Conservative Government with an increased majority.
The
Since general elections nor- mally run several polata better for the Government than do siraw voles or by-elections, the ferent Gallup poll indicating an actual lead for the Government is quite a change from the silua- Hon of a few weeks ago before the bus strike and the ending of The quantitative credit squecže.
Controlled
A
the
As recited previously,
the mensures of July gave Bank of
Englani
third weapon, the special, deposits scheme, 15 4. supplement of alternative to its two traditional weapons of Bonk rate Rad open-market trading. Any work done by the new weapons means lers work for the old ones,
Heavy Work
Both of them have been doing heavy work. The gilt edged market has been so depressed that the by finding Balts Liverpool ari Jamaica agues
were failures despite their high interest coupons.
A British Minister has now plainly told the world that the Goverrunent Advocates con- frolled expansion. To be sure, It was oily the Minister of State for Foreign Affairs, addressing a United Nations brandished, conference In Geneva, but that ranka n A ministerial state- mont.
Over recent weeks the au- thorities have switched to com- tatting recession equally with
On international comparison the Avt per cent. Boaks rate is much higher than was the same rate a year ago. Even if the new weapon is never used it enn work by being discussed or
that Any pressure
it is capalile of exering relleves the pressure on or of the other two weapons--and the odds are tant bath of them are going to be relieved—China Mali Spectat.
PO B•IE.A
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL 5.N, CO.
179
10
Getty ....
47
50%
10
13
Gulf Oil
Baltimore & Ohio
3412
Bendiz Aviation Corp.
8725
Benguet Cons.
Homestake Mining Co. Ingersoll-Rand
Bethlehem Steel
#452
Inland Steel Co....
Boeing Airplane
4512
interchemical Corp....
(gold).
Borden (The) Co.
"SURAT
It was the first direct word from the IPC installations since
The report' steady, the Iraqi revolt. raid the flow of oil through IPC
Traders gave many special Cements took another drop alpelines to Mediterranean ter this week to close at $22.70 on mints had not been disrupted,
Gains running issuca u whirl, This was 50The output has regained pre-i a middle quote.
to more than 3 points came into half a polat in undatert und 100gcents lower that last week's | Suez críais levets of 25 million
Porcupine Unted issues.
quote.
tons per year only a few weeks Melatyre ao.-U.P.I.
Johnson & Johnson, Joy Manu-
all
Foreign bonds and ratls re- curtle: le chang while The turnover for the week was dollar
willi stocks were mixed in 3.70 millo cumpared
Street 83.32 million last week, Tally was three high, 11 unchanged continued their and ten lower
compared with
sympathy with Wall
overnight.
Industrials
recent improvement and several fwn lower, seven unchanged and paticularly good features
fol15 Inwer last week
lowed satisfiction with divided LANE CRAWFORD announc- profl statements,
fed a dividend of $1.50 for the Although their dividend year.
Gold dures Improved 011
South African and local buying last year was $3, their distribu- į
on a short market. Base metals tion list year at $750,000 is the
were quiet and undecided.
д
same this year because of the few one for one linnas last year, rratic
HONGKONG ENGINEERING was & CONSTRUCTION declared an which unchanged interim of 10 centa to 80 and a bonus of 10 cents, your....
Oils mostly clused pence' higher after an day. Star of the market Trinida Petroleum Jumped five shillings hillings, high for the C.P.I.
Here is an Ice House Street abserver's account of the market;
7
"COMMANDS CONFIDENCE"
Commenting on the Bank's
report and accorints
a well known
City Editor wrote
on 2nd. April, 1918
6%%
.Lombard Banking has been bank.
a
operating exclusively as The confidence the company has com- manded from the investing public is apparent in the rise in current, deposit and other accounts. from 27.8 million to £18.6 million. This is a remarkable achievement
STABILITY Consistent laterent STRENGTH Knowledge and Experience SAFETY No Risk of Depreciatio SUCCESS Years of Developerit
STANIJARDS The Best to Hanking
1
ARSETS EXCEED (30,000,000
Inwest paid without deduction of Krised kiengdum income 126.
Send today for "Bank Deposit Account" Booklet
No. ADT from General Manager
LOMBARD BANKING
1.IMITED DANKERS
Head Office: LOMBARD HOUSE, CURTON STREIF
PARK LARE, LONDON W.J Télochalé: BRO 4151 (3) Neu)
Associated end,
LOMBARD BANKING SPAN LAST) LTD
P.O. BOX 1:34, SECOND F100
FINLAYEDS HOUSE, RAFFLES QUAY-
INBAFORE. Telephone:
A WorldWide Blanking and Finance Organtrailon
81
►
COMMODITY
FORLIGN EXCHANGE
LONDON
Closing rates were;
New York
Montreal...
AmsterdamS
Brussels .... Copenhagen
Llibon
Osio
Pinter
Stockholm
Zwich
2.00%-2.0012 2.60-2,001%
10.50-10,603
Sept.
Burroughs Add Machine
CL Packing Corp. water
PRICES
NEW ORLEANS
Int'l Busto BƐachines 6914 Int'l Harvester...
34
International Nickel
374 International Paper Int'l Tel & el Jolin-Manville, Co. Kaiser
Karims
Power & Light Kennecott Copper Lockheed Aircraft Loews Incorp.... Lone Star Cement Co. Lowenstein & Sons, Mecabi on Corp. Monsanto Chemical Co. Montgomery Ward
Prices of cotton futures closed Motorola Inc. today as follows:
Estate crepe thin:
Aug.
Sept.
2331-23
2014 sellers unclurted
Thick:
Spot
Aug. Sept
2015 seller unquoted
Got.
Dec.
May
July
Get.
Dec
Colton
No
SINGAPORE
Closing rubber prices:
ruliber per 16 Aug. 81-914 Sept. 801-41
No. 3 rubber per ih Al -
No. 4.
By: analed +
130.00-130.01% anket ereqe 1933-19.33t No. 1 pale crepe
Bu 50-30.73
10.9093-19.00
148135-1447L 12.19%-12.30j.
Milan, Frankfurt and Vienna wi changed.
NEW YORK Foreign Exchange rates in US. dollars or cents per unit:
Canada
tangland
3-day futures
90-day futures
New Zealand
South Africa
Argentina
Brazil kre
Inella
Pakistan
Others unchanged.
ZURICH
Closing rates in franes:
Dollars E Egyptian, pound
METALS
LONDON
LIVERPOOL
National Biscuit Co. National Carl Reg. "A" National Dairy Prod. National Lead....
National Steel Corp. New York Central
3.10
36.60
36.74
31.004
30.004
Olin Mathieson
34.74
34,70a
future elusings, in
pence per lb, were as follows:
Norfolk & Western Rty.
Olle Elevators
Owen-Illinois Glass
Oxford Paper Co,... aetfle Gas & Eles. Pan American Airways
Paramount Pictures
Parke Davis Co.
24.05
Penny . C. Co.
Peno, Salt Co.
26.40
Philip Mords
23.00
25.76
£0.00
SRI LA
Practer & Gamble Co. 141burgh Plate Gloss
Publicker Industries
Jurs Onl
Tiadio Corporation
Radio Corp. Ptef.
Republie Steel
Reynolds Metal Shell Oll Co.... Saint Reg. Paper
Saeony Moblivi
outwards "CANTON" KHYBER**
"CORFU"" "KARMALA" "CARTHAGE"
Homonarda "CANTON" "SOUDAN" * "CÒRFU" "BURAT" **
Leaves London Balled 1/
Balled 20/6
Sailed 7/7
24th Juy 15th July goth Aug
Leaves Hongkong
ist Auna 18th Augu 29th August
fik September
Due Hongkong 29th July 14th AuguNS 19th Aug
20th Aug.
3rd September 22nd September
Due Lonádé
1st September
25th September
26th September
23rd October
Via S'pore, Penang, Colombo, Bombay, Adru & Pt. Bhd.
» “SOUDAN" and "BUBAT" call S'pore, F.. 'wat.. Fettang, Aden, P. Bald, Havre, Loudon, Hamburg;
Rotterdam Antwerp..
BRITISH INDIA S.N. CO., LTD.
"RANGOLA" in Port
"ORDIA"
Ball 26th July
dur 4th Aug. JALE SI AUR.
“BANTHA". „Éne 10th Aug,
from Japan
for Singapore, Penang. Rangoon & Calcutta
from Japan"
for Singapore. Penana. Bangoon, Calcŭlia, Chit=" tagong "Chaing"
front Calcutta, Rangoon, Penang & Singapore, with Aug. for Japan
P. & 0./B. I. JOINT SERVICE
751-20 70-71 FW-10 0231-0415 03-91
American Contract
July/Aug.
Oct/Nov
Dec/Jan.
Mar/Apr.
May/June
July/Aug.
Aixed Contract
Judy/Aug.
Oct/Nov.
2
Dec/Jun.
Mor/Apa
Moy/June
July/Aug
25.30
1.04-3/10 9.09-7/18 2.70% 2.78-7/10 2.78-7/20 200-13/10
,0240
SAO PAULO
Sincial Cl....
Closing prices were:
Aug.
437
South Puarto tico Sugar Southern National Gas
“OZARDA"
Qu
45.20
Southern Railway (Cam
Buyers Sellers
Dec.
41.30
Standard Brands
Mar
47.00
Standard Oll of Cal.
.001
2:04
Tin
Spot 3-month
732 730
May July
unquoted
Standard Oil of Ind.
unquoted
Standard Oli of NJ,
"UMARIA"
733 730
34.80 with
2104
Cupper
J-month
bales.
Steep lock (Toronto Exge.) Sterling Drug Co.
Lead 2 hall
Studebaker-Packerd Corp.
July
Sunshine Mining ......
4.2015
Oct.
9.40
Zirc 2nd half
July
RUBBER
Rex
The tin market closed barely steady. Prices of metals closed In sterling per long ton as fol- lows:
2022 200 Average price was
2031% total sales
U.P.I.
10,977
0311
NEW YORK
Prices of metal futures closed today in cents per lb, as follows: Leed July
Slukely-Vati Camp.
Textron Inc.
*EASTERN"
dve
4th Aug. from Karachi, Dombay.
Cochin, Tuticorin Penang & Bingapore Balls 5th Aug. for Japan
due Hui Aud. fram Japan
a 9th Aug.
for Singaport, Kuwait. Basrah. Khorthahr, Dubai & Karachi
SUGAR
Twift & Co.
Техая Со.
Tide Water As, Ol
Tri-Cont. Warrants.....
Twentielli Century Fax Film
Union Carbide
Uijon O nữ Cái,
Union Pacific Takway New York, July 24 mited. Alteraft World No 4 supur tulures la-¡U,B. You "D" day closed unchanged to two U.8. Gypsum 2070 points lower
on sales, of 1898. Line Co.
U.S. Rubber contracts.
U.S. Smelling Domestic No. 0 sugar futures U.S. Steel M finished unchanged to oft two.. Steel 7 P.C. Pr
Warner Bros.
Westinghours Electrio West Va. Pulp & Paper
EASTERN & AUSTRALIÁN S.S. CO., LTD.
Aug.
due 11 Jalis 13th Aug.
from Japan & Shanghai for Labin, Bandeken, Brisbane, Sydney, Mal- bourne & Adelida
"ARAFURA” dus 22nd Aug. from_ Auriralla
Savi 24th Aug. for Japari
All versale have überty to call at any porta un Of từ trà toute a the round a dilisis new ask. ĐỂ to thangé br, sisendment With dị without hotzen,
10.300 19.40
3.60
EK SO
Zino
NEW YORK
Sept.
Tubber
today futures closed 40 to 50 points lower, Pricos: closed as follows:
Copper July
Expt,
TU
उ
Sept.
July
27.78b
Othery, unchanged...
Sept.
27,05)
Nov.
Laz
27,00
Mar.
PT.45b
May
21.406
July
27,306
COTTON
LONDON
steady with spot at 23-11/10
per lb. Prices:
Home spot Pics
Settlement Rous term
uda.
points on sales of 79 lais
Contract No 4 (world)
Sept
$.80-.81 | Woolworth
Oct.
5.01.
Mer.
3.40
Ney
July
Sept. Oct.
3.40
3,406
#.30b
unquoted
The rubber market was barely
NEW YORK
Spot prict 3.82 cells per pound Prices of cotton futures closed | tab Cuba. Open interest 7,006 con- 23%- today as follows;
bedeck mickata, cil boula, ports:
Exchange. Rates
Bust was done in the locdi tinofelni exchangs market motning at the following rates:- 8.77b 18. döller, fpèr (1) Unquoted Hurling poles iper £1) Tolk) salky 79 Contracts appl price Australiant notes per 21), 5,30 cents per, pound, chi New York Indoriaetan Fuplai (bar 190} ekaluty, Oben Interest kus; con- mam seni (per, 100)
Singapore (Brit)
For full poticutors apply to: MACKINNON. MACKENZIE & CO.
OF HONG KONG LID. Telephone Nos: 277214.
Aug.
Bept
Ot/Dee.
Jhes/Mar
Sippt
2011-23]
Mar.
Jub
Oct
話
10.
08.50 nom.
30.50 ·
36.72
tree.
Dept. Nov..
Contract No 6 (domestlo)
6.79%
Mar
#1.14
|| tracts, milf,P.I.
*