THE CHINA MAIL FRIDAY, SEPTEMBER 19, 1958.
London Tin BULLISH TREND ON MARKET
Market Suspended
London, Sept. 18. Dealings in the tin market
will
this be resumed afternoon and the closing prices will become the official prices of the day,
London Meini Earlier, the Exchange wat suspended in tin dealing, and it was announced that a settlement price would be announced later.
The Chairman of the Inter- national Tin Council dlxlosed that the buffer stock manager Lime had withdrawn for the
being is support of the cash price of tin at £750 ton.
George Peter, the ChairLLO
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Stock Exchange this
quotations and the morning's
Substantial Gains Push Prices Up
To
Pre-Crisis Levels
By A SPECIAL CORRESPONDENT The bullish trend on the market was more pronounced this week with buyers coming out into the open as the political situation in the Far East eased some- what.
the, rose to $26.50 yesterday, a gain The general feeling on market is that there is unlikely of 80 cents, while Telephones to be a shooting war and that which were quoted ex-rights some type of political settlement yesterday at $23.00 (equivalent muy end the strife in the Formasa to $20.40) rose 80 cents on the 73) Straits.
week.
morning
amounted
proximately
$340.000.
10 2p. Noon
transactions werő;
Bhares
Buyers Sellers
Sale
BANKS Tank INSURANCES Lombard .. Union
730 100
20
24/ 725
100 73 735
1130
Wheelock
3.00
11
РОСКИ, ЕГО
K. Wharf Dock
4
2:00 +4
100 m
14.40 15%
27.80 21.10 11
1000 1000 L 100 +
of the International Tin Council, | suIPPING Issued the following announce. ment today inunediately after London Melal Exchange Be cuspended all dealings in un
ANNOUNCEMENT
Provident
101
LAND, ETC. HK Hol
Ink Land - 3051
Really RUBIER
The announcemeet sald how- ever, "The Intruational Tinturones 14.26 Agreement will of course, con- thue in force," A Counelt] Analg. meeting wih be called to dis- euss the matter.
As
the a result, selling on
In the Stores section Dalries market has slowed down to n and Watson gained 40 and 80 43 trickle and with prospects of afcents respectively. Dairies are 11 market, a fow traders expected to declare an unchanged started the ball rolling, and as interim of 55 cents. the market began to rise more climbed on the band-wagon.
14,90
Majority
Tally for the week was 10 higher, six unchanged and three tower.
with compared
nine higher, ten unchanged and xix Turnover was lawer last week,
The majority of shares had gains on the week with a num-$3.04 million this wook.
up slightly from $2.59 million to
1.075 ber having substantial rises
Here is an Ice House Street;
put them bark near their pre-observer's account of the marked; Formosa crisis levels.
Trunk
.....
A. Towok Stagalo UTILITIES
1.35
1.023 1.670
155
2.173
1.10
1000) 19600
614 51 6000
1,05
1.M
10
CS 20.20
107 100
500
500 14
25.10 20.10
The only three shares to TU- isler louses were Yaumatis...
25.00 9.10 21.30 24
CITY LIGHTS
7:00 200
24
"As war winounced h July the Cotbeil has fixed the tola! permissible export nanount for the fourth
of control period October 11 to December 31st, Star Ferry
YALL.. 1958, at 20,000 foris as
C. Light
101 ..... 17,20 17.40 400 1 17.40 pired with 23,000 to for th
2000 tbld
period, Peter Electric centrul Enid.
Mac: E. There has been no change in Telephone this Hevision.
CO.-
"I got informed by the Uniled Kingdom goverment that no change is contemplated in the import licensing restrictions on Russian in and other arrange- ments announced by the Board of Trude, co long as the USSR does not make "an appropriate Imitation of its exports as a producing member of the Council of by voluntary action." -U.P.L.
FURTHER GAINS IN LONDON
INDUSTRIALS. Cement 2018" 22.90′′
STORES, ETC, Dairy
... 17.10 19 40 10.00 11,10
Watmus COTTONS
-
500 1
Textiles 8.3.18 1500
Mayang
INVESTMENTS
Allled 4026
17.30
www
(1)
Company To Aid Middle East
The Hague, Sept. 18. A Middle
East Industrial Development Organisation with Swica a capital of 2,000,000 Franes (about £103,000) has been launched with the backing
and of 120 European
en-
London, Sept. 18. American Arms, it wus Further widespread gainsnounced here today.
The name of the organisa. were recorded in stock markets today, under the tin is die Middle East Indus- lead of gilts and industrial Development Projects cor- trials.
Git further
poration Sociole Anonyme -- (* MIDEC.
Ismer A publication
today
"Broker are you? Chum, you couldn't be broker than mo!”
Although trading was generally on a moderate' scale, a steadier undertone prevailed throughout the
HK Bank
32
Mürual Find Quotations
The following are quotations of Mutual Funds in the United State, in Amertoun dollars. The buyers' quotations include com mission:
Mutual Funds Affiliated Fustă
Better Buyers
2.03
The Share Market At A Glance
Up or
Aug. 21
705
Ang. 28
705
Sept, 4
738
Sept. 11
Sept. 18
Down
745
755
+$10
Lombard
28b
28b
27340
23b
- 286
steady
Union
7434#
7816
73b
750
73b
+1
Wheelock
5.00
5.906
5,80
5.80
5.50
+100
HK Wharf
1001
100D
1000
100%
100%
aleady
Am Blue Share
4.00 454
Ax Block
3.74
4.09
HK Docks
4234
424
4214
BOY
4314
+15*
Boston Fund
142)
17.5.2
Provident
11.80
11.85m
11,20
1120
11.30
4.200
Bullock und
13.09
Canada Gro Fd
13.3
14.43
HK Hotels
20.90
20.80
20.20
20.30
21.10
+-800
Canadiz Fi
17.03
30.47
HK Lands
3214
314
503
+250
Can Int Growth
151
IIK Realty
1.40
1,40
1.35
1.35
1.375
+8340
Chemical F
Dividend Bh
2.01
HK Trama
25.80
25.80
25xds
24.90
26.20
+200
Dreyfus Fund
10.00
110A
liin
111
110
110%
steady
Eats & 11 Hal
21.90
Faimn. & 1 Stock
21.30
22.6
90
94%
943
0314
Fidellly Fund
14.10
15.34
17.40
17.40
17
17.20
17.30
+100
Talk Plan
361
3.00
27.40
28
27.00
21.70xa
25.50
+800
Found Mut Fd
0.64
Com flock
12.01
HK Telephone
25.40
25,00
25.20
23.00
23.00xr
+800
13.50
Hamu F
HC 7
4.45
4.83
G. I. Cement
22.20
28.10.
22.101
21.10
21.70
+000
Instit Found
9.93
10 20
Dairy Farm
17.20
17.30
18.00
17b
17.40
+-40c
Inelit Growth
10.01
11.11
Insit Insur
12.08
13.17
A. B. Watson
10.70b
10.703
10.50
10.00b
10.90b
300
10.03
10 v8
Latte Crawford
13.30
18.20m
£3.10
13b
13.10b
-+-100
24.19
25 20
Mass In
12.92
Inta Investment Allied
5.85
6.80b
5.15bxd
4
1,05
46
9.800x8 3.80%
9.8011
0.800
5.155 1 9.8um
6.10b
-5¢
1131
12.23
4b
steady
Nat In Mawr
7.02
Scudder Block
25.08
9.80n
steady
Telev E Fd
12.14
3.80b
3.70
8.05b
3.65D
steady
Value Le Fil
0.45
0.95b
7.053
0.85
-100
WeBagion
Ferry Star Yauran Ch Light Electrics
NIK & FE my Textile Corp Nanyang
6.000
04%
More Profit-Taking On
New York Market
past week resulting in Stocks encountered further profit-taking early today.
predominence
of useful
gains with HK Banks, Electrics, Telephones and Hotels showing up best.
Cements
also showed good improvement towards the close whilst Docks and Dairy Farms proved firm spots.
Rubbers were generally firmer.
Market Diary
Most losses were small- or
point in the leading groups -but a few stocks dropped a or more. Among these Du Pont, point wider declines were Firestone Tyre, Parke Davis, National Libbey-Owen-Ford, Stoel. Westinghouse Electric,
also
of
Am. Sugar Ref.
Americau Tel & Tel American Teb. "U" Anaconda Copper Armes Steel
Auk
Allng done. Mining Na-liam.
& Chlo
Benelldal Finance
Benguet Cuna..
Bethlehem Steel DK Airplane Barden The Co.
Ford Motor, however, stood Bendix Aviation Cap. out on the upside with a gain a point on the heels of its labour
settlement.
Other motors were Art. Schenely continued in demand with a rise
of over a point and Chance
Here is a Murket Diary of the Vought wes bid up sharply. week;
down $1 on enles; International Friday: Investment Corporation (Former-, ly Yangtze Fhanee) down Monday: tive cents on a buyer's quote; Nauyang Cotton-down 15 echts on sales.
Tuesday:
the Cills section, toth Banks and Unions had useful | Wednesday: gains of $10 and $1 respectively
section, Thursday: while in the Godown Ducts
to $43.25-thelr rost highest since July.
Cancellation
edged securities made
The reported cancellation uf headway and- closed said, "MIDEC's objective is to hotel bookings by tourists due to the unselled conditions in the
with numerous
Today's unchanged bank rate did not discourage the market as a reduction at this stage was not expected.
the inauguration of
Later in the day, the market closed with total of 1,202 Rules steady. T/D Isues traded out of which 386 $578,000.
vero higher and 500 tower. Slight unprovement,-
New York Stock Exchange T/O: $514,000
volume was 3,460,000 shares. Market makes
New York Slock Exchange furllier headway bond volume was $6.750,000. T/O: $785,000.
American Stock Rutled steady. T/O:
Exchange volume was 1,240,000 shares, $345,000.
Dow-Jones
Quiet conditions. T/O: $822,000.
Prospects
New York, Scpt, 15. Business prospects through-
and quarter
30 industriala
were:
20 rulls
Jew
Entocks,
40 bends..
11 US. Smelting 1063 US Steel
U.S. Steel* 60Waster Br
New York, Sept. 18.
34
70%
1434
23
54
10%
13
Westinghouse Air Brake B8Westinghouse Electric
Western Union Tel. Ca. West Va. Pulp & Paper Woolworth
2012
25%
AD
भा
U.P.I.
Burroughs Add Machline
Call 1moking Corp. Campbell Soup Co.
Canadian Pacifle 11. Cone (J. L.) Co.
Cat. Tractor
Celanese Corp,
C. I. T. Financial Corp. Chrysler Motors
Civell
Colette Cu.
(c) Credit
Carbon Co.
Cammenwealth Elee, Consolidated Edmon Continental Old of Del. Crown Zellerbach Cuban Aner. Suger Diamond Alkali Diamond Match Co. eloring averages Douglas Arerall
Comm. future price index
Closing Prices
Alden Inc. hey. Allled Chemleats Allied Mus ing. Allis Chalmers
gains of 1/16 | stimulate to 3/10 with short dated stocks new industrial and commercial Far East toes not seem to have out the nation for the frul Again active.
enterprises ลป the develop-uftected Peninsula Hotel
1958 of
and enrly ment of existing ones in Persia, Peninsula Courts, which are re-rext
усог were encourag Iraq, Jordan, Kuwait, Lebanon, ported to be full. As a result,
according to the AdvisuTY
Am. Brake filov... Saudi-Arabia, the Sudan and Hongkong Hotel shares climbed Board of the Instalment Credit American Akrilne -;- the United Arab Republic." - 80 cents during the week from Commission of the American Am. Cible de radio Corp Reuter.
their low of $20.30 to $21.10.
American Crenanild Co. Bankers' Association.
A. & Forgn. Power Signs of a moderate rise in Am. Gas & Electric Two Blue Chips had very good
Am. Home Prod. zains over the week. Hong-financing the sales of new and
Am. Mach. & F'dry. were viewed. kong
were used
American Metal quoted
week promising-China Mall Special. American Smelling
INDUSTRIALS
The industrial market closed very dri Indeed, with further
extensive gains recorded.
The main feature in mines was the sharp fall in fin shares,
with- following the drawal from the metal market of the Tin Counell's support..
Oll phares closed mostly Higher with Shell up 1/9 to 147/---UP.I.
Exchange Rates
Business Was dons unvictal *xchange markel
morning at the following inter U.S. dollar per $11 ......... Berling notes (per £11, ... Australes notes (per £5) Indonesian rupiah (per 100) Star Liels (per 100; Singapore Strafty;
More and more people take interest
919-19-31/12/1459
Lamburo-Banking, Limited
INVESTØR: £80
in
Incal this
SMI 100,00
5.00
1.00
LOMBARD BANKING
A Bank Deposit Account with Lombard Banking is accumulation without speculation. Your money grows, steadily and securely, without risk. That is why more and more people are opening Bank Deposit Accounts with Lombard Banking.
Taduroti páli okhout deduction of United Kingdom Luomu tak Send today for your copy of "Bank Deposit Arenant ** Booklet No. ADJE
from General Manager
LOMBARD BANKING
Cod Office
LIMITED BANKERS
PARK LANG, LONDON W.1
strzelated Bank 2.
LOMBARDI KADEWICZARKRAFT) AND MPZO, BON ZMY SEDONO PARRAM FIRAKTION HULL, MA FIRE QUAY SINGAPORE, TROMM: 12520"
A World-Wide Deskie ajd finante Oryantalisk
Electrica
cx-all
which
last
curs
COMMODITY
FOREIGN EXCHANGE
LONDON
LONDON
OS
The rubber market was quivi
with spot quoted at 24
per lb.
Prices:
No. I got
perico
245-2415
Settlement house terms:
241-2
Nav
Uch/Dec
341-249% 24-241
Jun./Mar
Closing rates were:
2.855-7/16-260-9/10 2.7311-2.74 10.00-10.00%
Stept.
Ort.
Nuv.
2435-2476 242-21. 244-1 2011
New York
Montrost Arusterdam Brusela Frankfurt Littste 2011am
PAYIN 31ockholm Vienna Zurict:
130.0755-139.125% 21.08-11.00
80.43-80.55 1730-1730)
117534-11751
·
14.47-24.4776 72.40-7241 70.2034-12.2017
Others unchanged. New York exchange unavailable.—U.P.1.
rates wera
RUBBER
NEW YORK
futures today Rex rubber closed off 20 to 10 points, with sules of 18 contructs,
Closing prices:
Sept: 20 Nov: 2023; Jan: 20.15% Mar: 2203; May: 20,00; July: 20,00; Dept: 28.90.
AMSTERDAM
*The rubber market
Was
General inarioeta, cui iasis, parla
Estate crepe 4hin Oợt,
thick Oct.
COTTON
NEW YORK
Prices of cotton futures closed today as follows:
Epot: 35.96; Oct; 35.54; 10: 36,02; Mar: 30.44: May: 3025; July: 31.25
Mor: 34: Oct: 32u: Dec: 32.02.
32.07
NEW ORLEANB Prices of cation rufuris closed today as follows:
PRICES
Dow Chemicals
542.34 Dupont de NemoʻLATW 130.60 Eastern Airline 80,03 Eastman Kodak
Paso National GoE $29.AL
BG.C. Family Finance Corp. 151.57 Firerione Tyre & Rubb
Ford Motor .....** General Dynamics
General Electric
General Foods
General Mctur
Gen. Tyre & Rubber
Getty Oil
Glidden Co.
Goodrich (3.F. Co.
$20!
892
Gen. Pub, Ul.
38
21
41
22
10
1074/
4432
METALS
LONDON
401
Goodyear Tyre
Grumman Aircraft
dur on........
Heyden Newport Corp.
Homestake Mining Co. Ingersoll-Manl Inland Steel Co intarchemical Corp.
Inti Bunevens Machiner Int'l Forventer **** International Nickel International
Int'l Tel. & T
Jet-Manville Co. Katser Industry ............
C. Poner i sht Kennecutt Copper
Liggett Meyer Tob. Ca. Lockheed Alrereft Loews Incorp. Lone Star Cement Co. Lowenstein & Sons, McDermall J. Ray McDorneil Aircraft
Block Exge.)
Mesabi Iron Corp. Minesota Mining Melon, Developingut Monsanto
Montgomery Ward Motorola Inc. slumped in this National Biscuit Co. Tin prices
National Cadi Iteg. "A afternoon dealings, with three-
National Dairy Prod months in traded at
£675. National Lead £070, EU65 arid 2650.
This was
followed by fur-
National Steel. Com, New York Central
Folk & Western Ky.
Amer. Aviation North-west Airlines at £057, £055, and 2650 in Mathieson
ther business
which was done
Owen-Illinois Glass
and nally, the first ring Otis Elevatore finished at £640 per ton.
040
Oxford Paper Co. Pacific Gas de Vine.
Pan American Airwayu
Paramount Pictures
Three Parke Davis Co..
Penny J. C. Co.
Official tin prices. Cash: buyers 645 sellers. months 640 buyers and 646 seliers, Settlement: Turnover, 185 tons.
Busines
$45. Fenn Bult Co.
Pullip Morri Frocter & Gamble Co Pittsburgh Piala Glass Inte in Fubilcker Industries sterling Pore ali... Redio Corporation End In 3-month at 075 to 640 | Radio Corp. Prof. sterling per long ton.
Vad done the afternoon at 650
Republie Ettal Reynold Metal
54 Roobuck & Co.
Other metal markets were shall of Cu... sieady. Prices:
(COL)
Saint Reg. Papoe Sinclair Qu Buyers Sera Secony Moblidif
Home Aloft South Puerto Rico Suger Southern Co. (The),
Spot; 19.101; Oct: 30: 3459 Mar: 3044; May: Oct: 2277 Dec 37.00; Mar: 3107 “LIVERPOOL
27
Copper
Spoz
212
3-month
in
Lead and have
Sept.
70%
Dec. |Zine and half
Bett.
7EA
7፤
EX
NEW YORK
Cotton future closings pence per lb. were as follows:
American Contract
23.02; Oct/Nov: 13.81; Dec/Jan: Mer/April 23,07: Bay/June: 23.82:
qulet. Prices closed all Min- | July/Aug: 29.47.
changed.
SINGAPORE
Mixed Contact Det/Nor! 14,41: Dec/Jan: 24.40; Mar/April: 24.30; -May/June:
The market opened higher | July/Aug: „X3.50. and ruled steady throughout the morning with lower shoots again in
לים
Prices of metal futures closed today in cents per lb. is follows:
10.3513
20.621
9.901
Southern National Cas Bouthern Railway (CoTTL} Standard Brands', Standard Of of
Oll of Ind
Sleep Bock (Toronto Exge) Sterling Drug Ca.
Stokely-Van Camp, Studebaker Packard Corp. Sunshine Mining
Swift & Co.
Texa Co...
(Textron Mic.
Tide Water Aan. Dil
[Time Ipe.
Tri-Cont. Wartanis
Twentieth Century Fox kil
Union Carbide
KAO PAULO Cotton future demand and luzeiros per kilo were as fol- good sellers a file more Ineled to To the market.
Load
closings,
In
Sept
Del.
No, i gubber per tb..Oct. 0291-009% No. 2 rubber per ib. Oct. 2
lows:
Out: 48.90; Deo: 50.30; Mar: 01.10.
In the United Blates, the aver- age price of ane-inch cotion at
Zine
Sept.
OCL
Copper
Eept.
Oct
No.
No.
P
14 doelgnatud spot markets was 94.06 (conta.
Tin
Sept.
Oct
Total sales ware 8,001 bales.mo U.P.I.
1. Gypsum
(343). Zubber
"Spot rubber sandaled",f... "GRIGI
Mankat crepe
Union O1 of çải,
Untoh Paeihe hallway {Thited. „Afrorm.it
$5.00edUaked Ɑ**
The un market was wolk- Le Co.. U.P.I.
PC, PF
Iny Tr Boston Keyttune Cus. B-1
TT
Blass, Growth
|1959 MODEL
PRICES
Bulck
New York, Sept. 18.
Division of Generni Moters Corporation announced that its lowest priced 1959 madel wili well for $43 mote than is 1058 counterpart.
The art price for the Le Sabre two-door sedan is $2,485 rot including taxes, transporta- tion and handling charges. At the same time Buick narrowed price range for its three series CATS.
ט Lh
Suggested list prices for Le Sabre, Invicta and Electra I modela run from $2,485 to $3,893
an against $2,422 to $1,380 for
the 1950 series--Ching Mail Special,
B⋅I E.A
PO B•I
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & DRIENTAL 5.N. CO.
Outwarda
"CARTHAGE"
"SALSETTE"
"SUNDA
"CANTON"
Homewards
"SURAT***
"CARTHAGE"
"SOMALI” safe
"BALSETTE"
"UANTON"
Leaves London
Una Nengkong
d September
11th October
20th October
21st August
22nd August
0th September
17th September 20th October
Lenyas Hongkong Due London
24th September 26th October
2001 Septembre 27th October
18th October 25th November
$2nd October
17th December
24th October
24th November
Via S'pore, Penang, Colombo, Bombay, Aden a PL 8416.
集
*SURAT" 20d "SOMAĻI" call 'pore, P. B'week, Penang, Aden, P. Bald, latro, London, Hamburg, Lotterdam Antwerp.
BRITISH INDIA S.N. CO., LTD.
“OLINDA"
due 22nd Sept.
Talls 2ärd 54pl.
from Japan
Penan
for Baloutta de
Magoon, Whitingong
BANGOLA" 1 Oct. for singapore, Panand
Nangcon Calcutta
P. G 0./B. I. JOINT. SERVICE
"PALIKONDA due 24th Sept. from Persian
Cult, Karachi. Kandia, Elem- bay, Cochin & Ginga- pore ratis 25th Sept. For Japan
4th Oct.
"PACHUMBA'due
sail 5th Ost
trem Karachi, Dombay Cochin, Tuticorta Binggpore for Japan
EASTERN & AUSTRALIAN S.S, CO., LTD.
"ARAFUBA” due 2011 Sept. safir 25th Sept.
from Japan & Shanghai For Labus, Bandaran, Brisbane, Sydney, Mol- bourumdadaliide
Ali vessels have liberty to call at any poris un or off the route & the route à sailings are subject
in change or winvadment with or without solfie.
For Fall particulars, apply to a
MACKINNON, MACKENZIE & GO. OT HONG KONG LTD. Tetrphone Nos: 77721 4.
事
来