THE CHINA MAIL,
FRIDAY, AUGUST 15, 1958.
Better Sentiment On Market
HONGKONG STOCK EXCHANGE
Our Own Correspondent
Business done on the long-
kong
Stock Exchange
Unix
To Come Out
HK Bank
Mutual Fund
Quotations
The following are quotations of Mutual Funds on the Ameri- can and New York markets in American dollars;
Boston Find Bullock F
Canada Gen Fa Gandian F4 Cdn Int. Growl Chemien F
6.14
Page
Further Progress In London
London, Aug. 14. Prices made further
pro-
gress today and closed on a generally firm note,
There was a good turnover in 500 gilt-edged and prices steadily advanced but there was some reaction at the close, War Loan was finally below the best at 00-9/16.
Still Buyers
Reluctant
★ The Share Market At A Glance ★
Up or
Mutual Funds
Buyers Belaru
July 17
78744
July 24
78244xd
July 31 * ANK. 7
770
AUE. 14
Down
Affiliated Fundr
Tia 701
755b
270
+$5
Am Business Sh
Axe Bought A
027
Lombard
29%
220
Tan
.
28b
28b
steady
10.43
Union
7534
7234
· 7435=
-500
Wheelock
Gb
ab
0.05
J2.67 13.09 14.2
4.35
17,30 13.30
0
50
IK What?
102.
1000
1011
101
1011
steady
18.03
19.53
17.45
JK Docks Provident
4tb
424b
$234
b
12
11.90
11.00b
12
11,80
-250
200
Divitead Sa
17.70
2.78
19.40
Dreyfus Fo
10.20
11.00
HK Hotels
22.
22
21.00
21.60
21.43
-100
Fatus 11 Bi
2237
23,00
UK Landa
32
32.
3214
31%
32
++250
at Suck
21.10
22.03
kitty Fu
14.04
IK Really
6.GBb
0.375bxa
1.40b
1.50s
1.40
www.100
51 Pin
2.04
.15.10 5,00
IIK Trams
26
20
2014
2014
20.10
-490
Fouad Mut F
0.11
9.34
Star Ferry
113
1136
112b
110xd
+$200
Com Stock
$1.05
1109
Ham F HC-7
4.33
4,93
Yaumalls
93
95%
0414
946
inet
Fund
10.72
17.00
1734
17.00
17.40
17.50
+100
Inst Growth
$0.10
10,94
8.20
0,78
27.00
27.0
27.50
27.20
27,40
+200
Invest Tr Boston
9.07
10.90
254
25.80
25.00
2548
25.00
+100
Ktylene Cui, B-1
25.01
20.11
23.200
22.70m
2244b
22.80%
22.70s
-100
Mas Inv TË
11,70 13.09
Man Growth
11.00 11.90
17.30
17.20
1734
17.40*
17.30
-100
Not Red Growth
0.20
11
10.900
10.00
Go
珈
Allied
4.5750
4.5259
10.80b
in 4.45m
10.300
---500
Stock
24.57
2457
Telov E FO
11.01
12.65
Ga
steady
De Line Fu
6.24
0.31
*4.55n
steady
Welllagten Fd
11.00
IK & FE Inv
10.600
10,600
10.000
10.001
steady
Textile Corp
*4.0252
4-
3.800
200
Nanyang
7.70%
7,700
734#
6,00
0.053
'
By A SPECIAL CORRESPONDENT ·
morning mounted to approxi-Sentiment showed slight improvement on
mately $804,006, Noon quotations
and the morning's
transactions
SC Buyer Sellers Bales
were!
BANKS
JK Bank. 12! 700
FAR AND
INSURANCIR
Union...
Lumbard
SHIPPING
Wheelock
A. Whart
buck
Provident. *
LAND, ETC.
BK Hotel
21.
725
the Hongkong Stock Exchange this week when it closed yesterday with its highest daily turnover in two weeks.
Buyers were si reluctant to come out onto the market and as a result the majority of stocks experienced very little movement during the week.
1 was only yesterday that the market began to look up, push- 11.8 ing up utilities fraction.
2000
73 74
495
DOCKS, ETL,
005 2004 Wal
Jol
42
11.70 12 3000 21.30 21.70
****
12 150
13575 500 4
305
300 95.30
112
SCA DE CO
$10 2000
300 14. 1000
lampstoreye RUBBER
Awbly
Trunt.....
A. Tawan
Hungala
Trai
Star Ferry,
: ע*
Yatimat
C. Light
Elestue
24.0
$75 15.70
10 0003
3
Trains unchanged Interim of 40 cents did not seem to be well Freceived on the market as the share started to fall slowly, 1.55 touching
$20 yesterday before Some people
elug at $26.10. [ had expected a bonus issue.
Better Enquiry
Hanks
gained the $5 they 17.00 ust Jast week with better
enquiry. They closed at $770, 21.70 Landa tucked un 25 cents this
27.7
27.03
150
500 2.80 week to close at $32, while
2itales had a loss of 10 cents.
After being quoted ex-dividend yesterday, Star Ferries were still 29.10 p $1.50 on a middle quote of 25.70 23.00 $110
You w
Made
0147
Telephones
25 0.25 00
JAN
250
252
1000
200 v 25.00
1000 25.70
INDUSTRIALS
cement...
Amry Can STORES, ETC.
Dairy
37.75
1740 17:00
100 7 17.40 17.50 1000 10.30 41.10 2000 1
[CITY&LIGHTS:
500 er
Watson
COTTONS
Nanyang
4.05
INVESTMENTS
Yangt
3.
0
Allied
1000 44
434
CHEVROLET CLOSING FOR CHANGEOVER
- Detroit, Aug. 14.
Chevrolet Division of Geno-
ral Motors Corporation will complete its 1958 model
this weekend and will closa
praduction
"Guta up-Industrials up
6 up and you slump to
bottom again!"
London Express Barcier
Watsons had a band drop of 50 cents on a buyer's quote this down its assembly plants werk, while Dairy Farms weat
down 10 cents.
Tally
for four weeks, bòginning i Turnover for Ue week was August 15 for inventory $2.04 mfition compared with and model changeover, is $1.87 million last week. was announced here. Chevrolet output. so far this year was estimated at 80,000 eurs ang! 180,000 forries against 900.000 cars and 230,000 Lorcles in the like 1957 period,
Fisher body plaut Kt Kansas City, Missiour, will be closed down for two weeks, re-opening on September 2-China Mail Special,
was eight higher, five unchanged and 11 lower compared with ve higher, eight unchanged and 11 lewer last werk.
TRAMWAYS
HONGKONG aunounced an unchanged interim
of 60 cents.
HONGKONG
LANDS
Here is an lee House Street observer's account of the
market:
With buyers continuing to adopt р cautious allitude, business on the Block Market has been on a light scale withi the overal turnover amount- ing to approximately $2.81 inillion.
However, prices generally remained quite slendy through- Dat with sentiment showing signs of alight improvement ua the closing day, resulting in better caguley and a hardening of prires mostly in the utility section with
Telephones,
Electries and China Lights re- gistering small gatos.
Hongkong Banka were readil-
ly absorbed at $765 In early
Ch Light
Electrics
KK Telephone
G. 1. Cement
Dairy Farm
A. S. Watson
yonetize
111b
4.559
40
10.602
+5
Low-Priced Issues Lead Climb Upwards
New York, Aug. 14.
dealings and closet firm with Low-priced issues provided the spark today that sent the stock
buyers at 5770.
Hongkong Lands were activa and steady around $32, while Hotels recovered ground lost early in the week.
Elsewhere there was Nitre of nole to report with the market on the dull side
Market Diary
Here is a market dury of the week;
Friday:
Signs of slight im- provement.
T/O:
$470,000
Monday:
Quiet day,
T/O:
$280,000,
Tuesday: No material change.
T/O: $480,000, Wednesday: Trading on a slight scale. T/O: $503.- 080.
Thursday:
market higher for the second straight session.
was moderate.
Chemicals as a group fentured on the upside. Du Pont ran up areaund five points at its high. U.S. Doras, murker of explic fuels for missiles final rockets, Just more than a point ou poor warming.
Most major groups favoured price upside, although The
small changes were
fot the most part and there was some irregularity B most group.
of the Union O featured its group, rising more than two al its high on a late spurt, It back
down bit at the close, Polaroid
was strong in the
Westinghouse cuterus andi showed
the cicetrical <quipments. sight improvement.
American Motore 1050 more T/O: $882,000.
than 1.
Sentiment.
RELEASED
CREDIT
Paris, Aug. 14. The Journal Oncial today BC-
vised Importers that credits had been released for the import of essential goods under the ha- port programme for the second kalf of this year.
Imports will be made under (global quetas for each of three
(1) The dollar ares. (2) The EPU and transferable frane area and
(3) The dollar,
Dounced an unchanged interimtransferable area-China Mail of $1.20.
COMMODITY
FOREIGN EXCHANGE
LONDON
Closing rates were:
New York
Montreal
Amsterdam
Drusecis
Copenhagen
Frankfurt
Qelo
Parlo
BlockhoLT
Vienna
Zurich
3.20-3/16-2003
10.30%-100%
10-333-10 33 11.00-12.0036 10.00-20.00 117216-11731 14 431-14.423
13.33-72,30 12204-12.200
at 14 designated spot markets was not available,
Total sales were 8,488 bales... U.P.1.
RUBBER
NEW YORK
Rex rubber futures closed 5 to 40 points higher with Enks of 27 contracts.
Special,
total 1,172 issues traded, Of a 526 were higher, 371 lower,
New
Exelunge York Stock volume was $3,370,000 shares.
New York Stock Exchange bond volume was $4,710,000.
American Stock Exchange volume was 870,000 shares.
Dow Jones closing averages were:
Industrial 20 ralla Is ties Ba stocks
10 bonds...
Comm. future price index
Allied Chemiçais
Allis Chalmera
A. Brake Shoe
American
American
Radio Corp.
Co.
Amertean Cyanan Лег. Forgn. Pover Am. Gan & Electric
Aircraft tam. McDonneli
Block Expe.) ......... Mesabi Iron Corp. Minnesota Mining Madon Development Momato Chemical Co. Montgomery Ward Maturola Inc. National Blocuft_Co. National Cash Reg. National Dairy Prod.
National Lead ........... National Steel Corp. New York Central ..... Norfolk & Western Ry. North Amer. Aviation North-west Afilies Olin Mathieson Os Elevators_••• Owen-lilinols Glas Oxford Paper Co. Paelle Cas & Elec. Pan American Airways
Paramount Picture
Parke Davis Co Penny J.C. Ca. Pili Morri
Procter Camble Co. Pittburgh Plate Glas Publicker Industrica Pure O................ Radio Corporatioa Radio Cary. Pref. Iepublic Steet.. Steynolds Metal Sears, Rubuck & Co.
Shell Ou Co. .... Saat leg. Peper
$261
012
101
Volume
NEW YORK
COTTON MARKET
New York, Aug. 14. New crop cotton futures continued to seesaw today followed
NB
traders
Washington developments of farm legislation. House-approval...of a Com- promise bil brought a wave of covering. bu! other traders were cautious pending further Senate action on the measure 33% and a detailed study of the 314 text of any bli ultimately ap-
proved,
71%
CLOSING PRICES Closing prices were around $1.30 a bale above the opening lows with the generat list finish- ed off two to up 12 points. The market opened live to 23 points.
New Orleans closed
up 12 Points
Traders were uncertain as lo how the loan for Uie 1958 crop might be established If the rale is based on midding Inch 714 would make for a lower rate 13 than if based on 4-inch cotton, some technicians thought.
Instit income
034
14017
New Kind Of Rubber Discovered
New York, Aug. 14. Two officials of General Electric announced today the discovery of a now kind of rubbor.
They said the rubber com- bines all restalonce with the ability to maintain strength and usefulness at temperatures range. ing from 100 degrees below zero
Japanes were firm in a quiet foreiga banda markel Dollar slocks reflected the overnight rally on Wall Street.
INDUSTRIALS
Industrial equities
had
nhalber good day, Engineering and electricpi equipment shares were favoured and made good {boadway and leading motors
were supported.
De Havillands were in renew- ed demand amongst aircrafis and Bowners were A strong feature in papershares,
Gold shares had isolated Arm features.
The Kamry market was generally cheered by the news that permission had been Alven for Anglo-South Airlean Investment to ralse $30,000,000
in the U.S.
Coppers were quietly steady. Olis had an uneventful day but were horder where changed, -U.F.I.
Discount Rate
Washington, Aug. 14. The US Federal Reserve
Fahrenheit to the 500 plus de Board today raised the discount
grers required by jet planes.
The new product, known as
antre
silicone rubber,
Wa
rale at the San Francisco Re
serve Bunk from 1 to 2 per the anu-
described a major advance cent, thus reversing
caster,-
la chemistry that will offer in-recession policy of lowering the dustry-particularly the auto-tale, to make money motive and aircraft industries Reuter. unique combination of import-
available in a single material," --U.P.I.
ant properties never before
*
Agreed Merchant Rates
Went German Deutschemarks Maximum Selling 71%.
P.O B∙IE.A
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL 5.N. CO.,
Outwarde
"BURAT'
KHYBERTM
"CORFU"
Leaves London Salled 7/2 Salad Bi Belled 24/7 Jailed 10/7
0th August "CARTHAGE" - 21st August "SALSETTE
thod August
""KARMALA"
"SOMALF
"SUNDA" "CANTON"
Hotnewards "SOUDAN" * *CORFU* "BURAT” I "CARTHAGE"
"SOMALI"
"BALSETTE” "CANTON"
8th September
17th September
Das Hongkang
18th August 25th August
19th Aug.
4th September 19th September
22nd September 10th October
20th October
29th October
Leaves Hongkong pur London
20th August 29th August 17th September 10th September 18th October
22nd October
24th October
Sinclair O11 .....
013
Soeung Mobiil
401
Solar Akceraft .......
101
South Puerto Rico Sugar
Southern Co. (The)..
$10.30
173.28 Stander? Où of Ca
Southern National Ga 132.00 Southern Railway (Com)
19 20 Standard Branda
30%
61T
B.
Standard Oll of Ind.
153.77
Standard Oil of NI
Steep Rock (Toronto ExE
Closing Prices
Sterling Drug Co
Stokely Van Comp
Studebaker-Packard Corp.
EPU and
Alden Ine. Acy.
1911
Bunshine Mining
751
Swift & Co
Allied Milla ine.
31
Texas Co.
27
Textron Ine
Tide Water Asan. Oli
Tri-Cont. Warenats
Twentieth Century Fox Flim
17:
Union Carbide ...
1091⁄2
Union O of Cal
10744
Union Pacifle Hallway
30
United Aircraft.
249
United Gas Com
43
US. Fall "B"
344
US. Gynsnum
43
1:14
US. Line Co.
205
871
U.S. Rubber
2011
525%
U.S. Smeking
33
US. Steel
714
10/2
U.S. Steel 7 PC. PE.
1404
CROP SURVEY
10
Warner Kno
2091
บ
13hy | Westinghouse Aiz Brake 191
201
Westinghouse Electric
013
23%
Western Union Tel. Ca.
West Va. Pulp & Paper
435
Woolworth
A crop survey by Memphis spot interests noted weather Cenerally has favoured growing conditions and insect control. Cotton is blooming freely. In
and misarly every section substantial rovement In frull- ing was noted in the central section,
About 75 per cent of the crop is now open in south Taxus and about 60 per cent harvested in the Rio Grande
*
"OLINDA"
14 Port
A
"BANTELIA"
*
*
PRICES
points higher with contracts.
sales of 902
A. Home Prod. A. Mich. Fury. American Metal Asmeti Smelling Am. Sugar Bet. American Tel & Tel American Tou. "" Anaconus Copper Annoo Sleet.............. Aujour
Domestic No. 6 sugar futures closed one point to two points ( Atlas Cons, Mining
higher with sales of 490 con- tracts.
Jan
Mar.
| Baldwin-Lima-Hau.
Baltimore & Ohio
Bendix Aviation Corp.
Campbell Soup Co.
| Benedicul Pinkco
Contract No. 4 (world)
Benguet Cona
Sept.
341
Bellehem Steel
04.
14
Boeing Airplane
3,00
Horden he) Co.
1.43
Burrougia Add Machine
May
DAD
Calif. Packing Corp.
today
July Sept. Oct Spot-cents per ih, tab Cuba) Open interest: 0,43) contracts.
3.42
Canadian Pacific I
Caso (J. I.) Co.
344
Cal Tractor
Catanese Corp
Closing prices:
Contract No. 8 (domestic)
Chore Manat. Bank
Sept.
4.70
20.25; July: 20.;
Nov.
5.20
Mar
May
SINGAPORE
July
6.00 5.79
The market opened lower in
with sympathy ruled quiet with minor fluctus-
tions.
Sept.
6.73
overseas
and
Spot-(centa
per bit NY ex-duty) Open interest: 1,543 contracts.
1.72
-UP.I.
Sept: 20.00: Nov: 38.50: Jan: 20.35; Mar: 20.25; May:
Sept: 29. www Others unchased.
New York foreign exchange rates were unavailable today-U.P.I.
COTTON
NEW YORK
Fatures were:
No. 1 rubber per lb. Aug. 814-0111 Sept. 81-B135
No.
TOO.
3
No.
rubber per lb. Aug. 703-0012
Spot rubber unbaled. Prices of cotton futures closed Bike Crepe
No. I pale crepe
LONDON
today as follows:
Spot: 34.40; Oct: $5.00: Dec: 55.08: Mar: 30,20: May: 30.28; July: 31.30; Del 33.75-70; Lee: 33.03.
NEW ORLEANS
Prices of cotton futures closed
today as follows:
Spot: 33.10; Det: 35.68; Dac: 35.90; Mar: 30.24: May: 06.21: July: 3.10 Oct: 3.70: Doc? 37 LB,
LIVERPOOL
-Golton. future
75-7611 019-0135
02.04
09-01
The rubber market was quiet
METALS
NEW YORK
Prices of mefal futures closed
Ford Motor.....
General Dynamics
The old crop months held steady since spot prices in the south are under the loan Tevels.
Favourable crop
news, cloth statiscal market dullness and data remained in the back- ground as markét Influences while traders concentrated on Washington developments.
*
*
Zith September
29th September 23rd October Fath
October 24th November 17th December
24th November
vis d'pare, Penang, Colombo, Bombay, Adeo & PL. Skid.
"BOUDAN", BURAT" and "BOMALI" call S'pore, F. S'et, Penang, Aden, P. sasq, llåvre, London, Hamburg. Rotterdum & Aniwory,
BRITISH INDIA S.N. CO., LTD.
salle 18th Aug.
dae Siat Aur. allt Sept.
Front- Calegita,
Chalisa- gong. Chalia, Bangoan A Hingapore
for Shanghai & Japan
from Japan
for Singapore, Penang. Rangoon Calcutta
P. & Q./B. I. JOINT SERVICE
fram Japan
for Singapore. Penang, Madras,
Bombay, Bhavnagar, Karson & Kandia
from Bombay, Bhavna- gar, Karachi, Kandia, Cochin, Tuticorin Singapore for Japan
"UBLANA"
due 18th Aug- galls 19th Aug.
New
*
"ODERA"
due 24th AuE.
*
.
Balls 25th Aug.
!
C. 1. T. Flaancial Curu.
Chrynler Motors
Cluett Peabody ...
Brz | Colgate-Palmolive Co.
Combine Carbon Co. Cumnorcial Crodit Cinamonwealth Elec. Consolidated Edison Continental Oil ut Del. Crown Zellerunch Cuban Amer. Sugar Diamond Alkaj! Diamond Match Co.
Douglas Alrer aft Dow Chemicals Dupont de Nemours Fatem Airline......
Eman Kodak
CHICAGO GRAIN MARKET
Chicago, Aug. 14. Wheat closed up % to off
cent; soybeans closed un-| changed to up 1⁄2 cent.
Wheat No. 2, red
Sept. 104(13) 103)/(1) 183]6-184 Dec,
Valley.
The Liverpool market closed 12 lower to 20 Engilsh points higher and,674 to to 790 Americaß points under York futures.---U.P.I.
NEW STOCK
ISSUE IN U.S.
Washington, Aug. 14. Securities & Exchange Commission sald today it has
authorised American South African Investment Co. Lid of the Union of South Africa to float a $30 million 'stock issue in the United States.
Organized in Jung, the com- pany's stated purpose is to operate as a closed-in diversified management Investment pany, investing mainly in South African Gold Mining and similar securities.-U.P.I.
com-
Exchange Rates
Business was done in the locat nometal exchange market this moning at stue following
tes
1.3. dollar (per, 41) morting mate({per (A1). Austinilan tiqtas (dør 1) Indonesian rupiah (po 100) Ram tival (per, 300) Kiinanporn. (štruita)
EASTERN & AUSTRALIAN S.S. CO.,LTD.
"ARAFURA” due 28th Aug. from Australia
Hi 26th Aug. for Japan
"NELLORE** due lith Eept. from Austraila
salis 19th Sept. for Japan
..
All vetiels' Dave Liberty to call at any porta -om or of the route" à thé ruta à sailings gev sudjuk to change or amendinant with or without poties.
for full particulars apply to:
MACKINNON, MACKENZIE & CO.
OF HONG KONG LTD. Telephone No:: 27721-4.
with spot quoted at 23% pence today in cents per lb. as follows:
per lb. Prices:
No. 1, pest..
30715
Spot
141
19016-
El Paso Neliorini Gas Family Finance Corp. Firestone Tyre & Rubber
Mar.
1041
"
May
10536
OBL
July
19316
The
43 Corn, No. 2, yellow
General Foods
General Electric..
Spot
Bept
10.04
1975-2015 12732-35 1161-117
10, sib.
Gen Pub: tru
Doc
AND. Tyre & Rubber
1373
8.cob
Delly Ou
8,DOU
Dec. New
Glidden Co.
20.116
Mar
Goodrich (B.F.) Co..
21.232
MAY
11772-130 123
·123-16
Goodyear Tyre"
03.50L
July
93.7
Grumman Alzgraf
Guit
Пуф
Rept
12345
102
Doc.
Oats
1
Bept,
Dec
004-1
Soybeans, No. 2. Yellow
10614
Spot
Supt.
Brot
3-month Copper
John-Manvit Co.
Now,
Kaises Inchustry.
Spot
2003 20
Kanser & Power & Light
આ
Mot
3-meath
Konnicate Copper
May
Lead 1st Male
Jul
Au
Barley,
Brot
122-1571
New York Ber
200 lb. sack
* Selllement house termi
|
Sept.
Gelbes.
2344-2374Zine 2016-231 Copper Aug. 24-2035 Jan./Mar.
2414-2412 April/June
2442-2414 July/Sept.
2016-202 General markets, cit' haria, portart AUR. Sepl
late crepe this Aug. Out.
Eitate crepe Ulick Aug
Lend Aug. Sept Aut. Supt.
Tin
Sept. AUE
2170:
24.70,
closings, ite pepco per lb. were as follows:
American Contract Oct/Nov: 21,98: Dec/Jan: 14.10: Mar/Apr: 14.30; May/June: 25z July/Aug: 24.30.
Mixed Conteret
Oct/Nov: 24.6; Dec./Jan:
Met Apt 2470; May/June:
July/Aug: 29.10.
AS
SAO PAULO Cotton future closings in cruzeiros per kilo were follows:
Oct: 49.10; Dee: 4900; Mar: - quoted.
Irk the United States, the Average price of one-inch cotton
SUGAR
New York, Aug. '14. World No. 4 sugar futures closed today unchanged to two
Int'l
LONDON
Homzettice Mining Ingersoll-Rand Prices of metals closed today Inland Steel Co.
ir sterling per long ton as fol-chemical Corp., lows:
Tin
Machines
Buyer Bellota International Mickel
Internation Paper ......... 730 73014 | T613 TUE ROTEÍ.. 7201 720
Nov. Kine tot hall
Nov.
001
Ligent Myers' Tol. Lockheed Aircraft
MU, TIL Loews Incorp
Lone Star Cement Co. Lowenstein & Son..... Mas, Iny, Trust Co. McDermott J, May
40%2
29511⁄2 nom