:::
THE CHINA MAIL, FRIDAY, OCTOBER 3, 1958.
New York FRESH BUYING ON MARKET London
Cotton Market
New York, Oct. 2.
Cotton futuren today edged onto higher ground for the fourth session in a row, establishing gains up to 65 cents a bale be- före the market levelled off.
Clied price-lifting factorn
Included:
Shares Rise
On
Broad Front
By A SPECIAL CORRESPONDENT
A quickening inquiry for As fears on the Hongkong Stock Exchange
goodn
market
the textile
Possibilities of frost and
freezing weather in some
producing sectione
MÁCA
to
greater inclination scale-down recent optimis-
tic crop estinutes.
A private crop survey today estimated the 1938 yield at 11,845,000 bales, off 100,000 bales from the lust government estimate. But other trade
urces thought the reduction would run above the 500,000
bales mark.
Rain Damage
Quarters favouring a lower future belleved recent damage done by rains in central and western areas come too late to be reflected in the September survey. They belleved the harm done would show up in ensuing reports.
Excessive rains in Jate September resulted in ball rot and feid asses in the central belt where prospects "are not as bright as they were
montb
aga" on nurce reported. How- ever, condition in the etern
delivery
The October
VIKTI
of a lossened, confidence on the market pushed shares up on a broad front this wook.
conflagration in the Far East
The majority of shares that fell sharply last week due to the political situation managed back to somewhere to climb
near their levels dropped.
before they
The market has been rising slowly but steadily all week and at the close of business yester- day prices were tending to harden. If conditions should improve further in the coming will continue to climb. weeks, It is likely the market
Uulties attracted the mast Yaumatis tocking on $1 to bring attention during the week with
back to their end-of- August price.
them
First Time Telephone rights appeared en the market for the first time this; week and were being bought at 57. These rights are a
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
طولة
Business done on the Hong kong Stock Exchange this morning smounted proximately $307,000. quotations and this morning's transdelions were:
Shatra
BANKS
fale nk. 782.54
Novn
Hayers Beilers Halen
204732.50
SUB-PING Wine Docks, ETC.
3.43 3.03
3415
K. What
bo 100
Dick
rodeat,
belt were termed sati-factory,
good speculative buy on the as- Two October delivery noticea
the
of sumption
price that Phones rises during appeared today, one each for
the next Electric's rights | at Galveston
three months, and
were rather depressed during the week falling to $13 before they unbed back to $13.80..
Cements, which do not always seem to follow the trend in the Hotel. 21.10 21.40 market, continued to rise this
Houston.
position
totalled 33,500 bales,
The certiflented stock at 40,145
belea was of 307
the previous porting.
balts from
The Liverpool market closert up two to 10 English points but 679 to 800 American
under New York futures.
Clostrug prices
points
ruled five
higher to four points lower. Now Orleans closed up three to olt
six points.-U.PÍ,
Chicago Grain
Market
Chleago, Oct. 2.
gains
ار
Steady to firm tones marked grain futures prices at the close of the Board of Trade,
Wheat registered one cent early in the day as commission house buying of the July contract signalled the advance.
A strong murket in vil en- couraged local brokers to buy. Soybeans lost opening guns oround midday, Wheat No. 2, red
Spot
Dec. 1941 (1) 18(L)
CITY LIGHTS
* Chairman's got cold feet over that nen tanue and non i can't find the tea- COSE"
week adding on 50 cents to close at $22.30.
Hongkong Wharf dropped un- uther $2 tila week with a price of $00-ils lowest quotation this Providents on the other 104-104 year
hand rose 30 cents to close at $11.30.
Zdar
100
May
338
July
Corú, No. 2, yellow
Spot
Dee
Mar
Dec. now
May
July-
Dec.
ΜΑΣ.
Oats
F15-Ti
17! JJ-'z 11744
Tally for the week was 13 bigher, five unchanged and five lower compared with one higher, wine unchanged and 15 lower last week. Turnover this week (2098-3 was $2.11 million compared
with $2.28 million last week.
UNION INSURANCE an- nounced an unchanged interim of 2/~
Dec.
Mar
1326-
GLIA Baj.
Soybeans. No. 2. yellow
Spot
Nov.
Jan.
Mar
2155aomi 21755 2219- 22416-225
May
July
Barley.
Spoi
115-123
New York flour
200 lb. sack
$13.00m -U.P.1.
PRICES OF STEEL
PRODUCTS UP
New York, Oct. 2.
The United States Steel Ex- port Company yesterday raised ita export base prices on a list
ΠΟΥ
of carbon and alloy steel pro- ducía as well as órí certain tin | plate and pipe, by one to six cents a pound..
The
prices, covering freight to New York, Philadel- phía and Baltimore, were made Necessity by recent increases in freight charges on export items to North Atlantie ports, Billets, blooms and slabs for re-rolling were quoted at $80.74 a net ton, standard rulle ht $110.29 a net ton and galvanised sheet
'cwt.
at
Light Scale
Here is an lee House Street observer's account of the murket:
The Stock Market continued to be influenced by the Far East stiuation and quently Arading has mostly
been on a light scale.
COISO-
However, a slight leasen- ing of tension on the closing
day Induced
enquiry
soma
4325
(0) 11.20 11.50 LAND, ETC.
*K Bank Lombard Union
Yaumatis
Ctr Light
Electrics
BK Telephone
Mutual Fund
Quotations
The following are quotations of Mutual Funds in the United | Stales In Amoriens dollars. The
Takes A Breather
London, Oct. 2. Some of the recent buoyancy
thò went out of
stock markets today und after three active days of ris- ing prices they tended in take a breather. The
buyer quotations include commoved steadily
miralon:
gilt-edged, however, aboad helped by the continued improvement there in the pound sterling; were gains in the morning of before the "no up to 2/0 change" bank rate was an-
The Share Market At A Glance ★
Sept. 4
Hept, 11 Sept. 18 Sept. 20 Oct.. 2
Up or Down
735
*35*
7474
780
+$2.50
2754b
2.8b
216
280
steady
72b
126
735
720
12140
-500
Wheelock
5.30
5.30
5.90
5.80
1.95
+50
HK Whart
100%
1000
1001
98*
08.
*
HK Docks
12%
4214
43!4
#344
4214
4-356
Provident
1,20
11.20
11.40
11b
11.20
+300
HK Hotels
20.20
20.30
2110
20%
21.20
+700
HK Lands
5144
30%d
31
30
2031
+250
HK Rexity
1,35
1.35
1.375
1.375
1.25
HK Tramı
25xds
24.90
25.20
24.00
2190
+306
Star Ferry
1118
110%
110%
110
105
04
9334
9314
94.50m
+-51
Mutual Funds A
17
17.20
17.30
17
11.20
+-200
Amblers Buyers
Aliated Fund
6.74 1.2
27.00
24.70xA
25.50
24.20
25
+B00
Ani Das Shre
4.30
4.73
26.20
25.60
23.90xr.
G. I. Cement
22.10s
21.10
21.70
22.20b 21.80
23.80
++-400
Ax Black
៦.៥
4.30
22.30
-+-500
Bouton Bunc
10.30
17.72
Dairy Farm
16.90
17b
17,40
16.40
15.90bxd
214
Bullock F'd
13.30
14.03
: A. 8. Watson
10.50
10.000
10.005
10.800
11.10
+800
Canada Gen Fi
1431
Canadian ya
£7.00
19.40
Lane Crawford
13.30
13b
18.10b
13.10
13
--100
Canadian lot. Grow .
77.03
#23
Int Investment
5.15bxd
5.15b
10b
Bb
Eb
stendy
Chemies
and
18.47
10.07
Allied
4b
4
4b
4b
45
stendy
Dividend Sh
9.800
9.800
9.60m
1.800
Dreyfus Fund
11.00 11.99
Baton & Bal
24.0
1056 6.85
3,60b
Eaton & Back..
21.44
29.61
6.80b
Fidelity Fund
14.04
13.74
FIF Plan
9.71
4.07
Found Mut Fo
8.74
9.50
Com Block
10.14
13.20
Hamil rol
4.69
4.90
Inatit Found
10.03
20.01
10.33
0.32
10.22 11.17
ting men
2423
223.29
Rolls shares
12.10
13.27 2/-
11,50
In foreign
7.09
MAS 23.44
12.10 13.20 ensed.
0.01 13.23
7.22 14.42
KK & Inv Textile Corp. Nanyang
3.70
7,05%
3.640 73
D.80m steady 3.605 steady 0.99b. +100
New Industrial High Reached On Wall St.
Industrial stocks rose to a new
moderately active tradin g.
American Airline Am. Cable & Nadie Corp.
Aunerlenn Cyanımid Co. Amer. Förm, J'ower Am. Gas & Electric Am
Host Fred!
Am. Mach, dry. Aunerten Alciat
The rally was mrde in the face of rumours in Wall Street that the Federal Reserve Board my tighten the money market further. The maiket ignored the auto strikes.
Non-ferrous metals.
two points 3020ins running past
featured on
the upside. This group was helped by price in- creases for lead, zine and co¦ per. Steuls met support on a brighter outlook for that grouping Airplane
500 1
21.30
UK Lead 30.5 30.75 1000
Really
Humphreys 14.00
120
BUCHER
Amely
1645
1526
**
1.3%
13 1000
1907. 5300
1.00
2.45
UTU MIES
Team
Yauman
21.0 #4
Trust.....
A. Tawub
Suncaki..
Light 117.10 10
1100 2400
Features
D100
with
Am. Star Rel.
Anarunca Copper
All Lens. Mining
Jinkiwi Lama-Ham.
There was 1 taunber of 1720 features in e list, including 2001 600 17.2 Pittston which rose more than 100 17.60
17.20 two at its high and IBM which
Electric ... 21.10 25 100
iris.) 13.40 13.70 141
24.90 1.DÖ
ran up more than four,
...
13.60
-mixed.
Toleplung 23 23.40
1899
22.70
2744 1
INDUSTRIALS
Cement
23.03
STORES, ETC. Dairy, X0 10.00 18.10 01.10 1:200
Watson ... Lobe, Craw. COTTONS Textiles ... 3.00 Nanyang 6.90 INVESTMENTS Invi. Invest
Allled....
100 10.10 500 x 11.20
7 2000.
102 M
Exchange Rates
Armie Steel
Deneficial Finance
Bendix Avisti a Corp. Bleuel Cum ....
New York, Oct. 2. all-time high today in
23. Grumman Aircraft
GER O
5€
15
440
lyden Newport Corp. Kunystake Mining C
penal-tail
112 lund Steel Co
Intertizaleal Corp. Jatt Businers Machir.eu Int'l nevester... International Nickel International Paper
Tel Tel
John-Manville Co.
21
มน
69
14
13
Kalser Industry
23
Kan C. Power & ElAM
$51
Kennicott Copper
100
LIREOLE Meyers Tob. Ch.
40
Lockheed Aircraft
Bortion 7y Co.
7+
Low Incorps.
Iss:rroughs Auto Muchane Calif. Packing: Corp. Campbell Saue Co.
37
Lone Star Curient Cu,
19
301
2016
JLL
Canadian Pacille R.
Case 13. 1. Co. Cal, Tractor
Celanese Cory, CLT, Financial Corp. Rail-Chase Manhat. Bank
Chryder Mower
Drups were roads were Firong with gains running part a polit in Chesa
& Ohio, Louisville & peake Nashville
and Pretoria Eastern Illinois.
Peally
Lowenzetu & Hosti,
MUOTmoli J. Ray
McDonnell
Aircraft
Stock Exga.)
Mesabi Iron Corp.
Minnesota Mining
Marwanto Chemical Co.
301 Montgomery Ward
Motorola line... National Diet Co. Natorial Conti Bog. "A"
42
Colgataimallye Co.
70
&
Colombian Cathon Co. Commercial Credi
422
50
National Dairy Prod. National Lead
National Steel Corp.
55%
Oll of Del
イ
53%
31
401
American Stock Exchange sales today dropped slightly to E95 1,070,000 shares from 1,080,000
shares traded yesterday.
Bond volume today amounted
ngalist $5,440,000 to $5,730,000 Yesterday
Business was done in the local unofficial exchange
tila market toning at the following rules;
U.S. dollar (per $1) ......
9.70 16.01 Sterling notes (per 411 .....
12.50 Australian notes (per £11
5.00 slam tleats (per 100) Indonesian rupiat (per 100) Singapore (Straita)
Dow-Joocs closing averages
were:
30 Industriale
20 rails
15 İties
30 stocks
40 bonds
Commonweakli Elec. Comulidated Ed Continentach Crown
Cuban Amer. Sugar Diamond Alkall Dland Match Co. Douglas Aircraft Dupont de Nemour Dow Chemicals... Eastern Airline Fartman Kodak
Paso National Cha
Family Franco Cuns,
532.00 | Pfrostone Tyre & Rubber 144.10
Ford Molor...
فن الراقي
والاداري
New York Central Norfolk & Westa Ry
North Amer. Aviation North-west Airlines
Olin Mathieson Ola Elevator..... Owen-Jifrkads Glass
(Com.)
Oxford Paper Co. ******
Parko Davis Co.
Thatit Growth
Instit Income
Inv Tr Boston
Keziane Cur B-1
Men Soy
Man Growth
Nat See Growli Scudder Stock Televa Value Line Fa Wellington F
13.48
1.10
3.13
גע.
nounced. The market continued ahend In the
afternoon with
War Loan heading the
with 073 bringing it to
Us.
10
Industrials
zaine
LUP
industrials state.
merket in was depressed by the
ment issued by the directors of Ford Motors warning that the next balf year will not be good. This followed news to
day that Rolls Royce was
let
out. Ford's and
were both
down
bonds Orecks suffered a setback and Germans Doilar stocks were rather negiceted and carler in roaction to Wall Street.-U.P.I
Studebaker's New Lark".
Bouthbend, Ind., Oct. 2. Studebaker · Packard Corpora- 1lon' long heralded smaller car began rolling off the a
Called sembly lino yesterday. the Lark, it will go on view in dealer showrooma on October November 20 and on pala on
14.
Mr Harold Churchill, the com- pany president, said the Lark la three feat shorter than the
average American car on the market and will cost under $2,000. There are four medals
μέχ with both
and eight- cylinder engines.
Addressing
local
and
style leaders, he said the introdua. tion of the new car has brought spontanacus Increase in the number of Studebaker dealers.
China Mall Special.
PO B⋅I
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
"CITUSAN"
HOUGƠI UBAVIJ
53
Penny J. C. Co.
Outwarde
"SALSETTE"
"SUNDA"
Tina Hongkong
Penn, Bali Co
Philip Morris
Procter & Gamble Co.
"CANTON"
401
Pittsburgh Pikte Glass
Publicker Industries
să Auguri 1th Septembe
17th September
011 October
4th October
Pure O
60%
Radio Corporation
Genesi Mutors
Radio Corp. Pref.
EXORCE WEBS
Gen. Pub. U.
4314
Repubile Steel
Gen. Tyre & Starble:
2011
Reynolds Metal
Getty Bil...
2711
Scars Borbuck & Co.
$ 20%
Ģildden Co.
Goodrich Padu
Bhell On Co,....
Saint Hce. Paper
417
Goodyear Tyre
0431
Leaves Klengkeng
19 October
24th October
8th November
20th October
20th October
4th November
Dus London
24 November
No.50 General Dynamics
13.
General Electric
Comm. future price index
Closing Prices
18,12 detemi Foods
151 48
Alden Inc. Acy
20.70
Alllest Mills the
1.80 A. Brake Shoe
401
COMMODITY PRICES
RUBBER
BINGAPORE In spito of allghitiy overscas advices
was hardly changed.
lower
COTTON
NEW YORK
Prices of cotton futures closed tuxlay as follows; the market
There was considerable interat in lower grades, but which caused prices to harden sellers were rather selective in la most scoliots,
their offs. Trude buying was Offerings of Electric righis good, Futures:
were well absorbed and frota No. 1 rubber per ib. Oct 041-0415 a low of $13, they recovered }
No. 1 rubber per lb. Oct. 8- well to close at $13.00,
Utities as a whole showed No. 3
W
No. 4
Nov. 84-85
801-01
70-7215
up best and the insprovement No. 1 rubber suot unbalod -41% shown here spread to other Blanket crepo
rections.
Dairy Farmt and Cementa were also firm spola.
Market Diary
02-11
No. pato creps....... 17-03
LONDON
Spot: 30.13 Oct: 0.01; Dee: 23.84 Mar: 26.78: May: 31.00: fuly: $400 Oc: 31.12; Dee: $2.04; M: 11.01.
NEW ORLEANS Prices of cotton futures closedi today as follows;
in
Six: 34 Oct: 3330: Deu: 36.51; Mar: 30.13, May: 36.67; July: 14.50 Det: 32.13; The: 81.93; Mar: 3188.
LIVERPOOL Collon
closings, future pence per l. were as follows:
American Contract Oct/Nov: 23.95; Dec/Jan: 24.10: Mar/April: 2400: May/June: 23.09:
July/Aug: 23.36.
The rubber market, was firm
Mixed Contract The undertone at the close with spot quoted at 24-11/16
24.30; Oct/Nov: 24.90: Dec/Jan: Was steadier.
Mar/Apr: 2453; May/June: 24.43; pence per lb. Prices:
No. 1 rubber les spot. 24-24 July/Aug: 23.63.
SAO PAULO Sellement house term:
All prices were unquoted. Nov.
2134-2431
In 241-33
the United Stater, the 23%-25% | average price of one-inch cot- tton at 14 designated spot mar- 234-2835 20251kets was 34,79 cents.
Here a market diary, of the week:
Friday:
Dec.
FRO/Mar. April/June
Octy/Dec.
July/Bept.
General markets, cif basis, ports:
Ruled steady. T/O:]
$381,000.
$7.02 a
Monday:
Fractional
gains.
Oct Nov. Dec
T/O: $433,000.
Estato crepo thin
Tuesday:
The company is a subsidiary of the United States Steel Cor- poration China Mall Special,
Ford Sales
London, Oct. 2. Sales of British-minde Ford cars during the half year end- ing on June 30, 1958 totalled 228,773 units, the company an- touneed.
with 172,107 This compares umita sold during the previous half year, and 166,334 during the half year ending June 30, 1957, China Mail Special,
Small gains, T70: Estate crepe thick $108,000.
Nov....
NEW YORK Wednesday: No material change.
Thursday:
T/O $185,000.
Prices tended barden $620,000,
Total sales were 15,282 bales. 1146-2414-UPI,
2416-2474 213-241
20
20
to T/O
Rux closed 15 to 23 points with rules of 25 contracts,
Closing prices;
rubber futures
today
higher
Agreed Merchant
Rates
Canadian Dollars Maximum Selling 10-13/10. Minimum Buying. 17-1/16 T/T; 174 O/D
Nov: 30.00; Jan: 29.05; Mar: 29.70: May: 20.00; July: 12.05; Sept: NOV 29,43.
AMSTERDAM
rubber market
METALS
NEW YORK
Prices of metal futures closed today in cents per lb. as fol- Jews;
Zitie
W15
Lend Oct. Dec Del Dey.
11.50b 11. 10.450 10.30
Copper w
Dea
Oct.
37.006
13.000
steady. Prices closed today in guidern per kilogram, c.lf, Oct. as follows:
No. 1 rubber
No. 2.rubber No. 3 rubber
No.' I repe
150 350.
2.36
фа
2.50
Dec.....
LONDON Prices of metals closed today
In sterling per long-ton as fol- lowa:
Sinclair ON
Socony Mobilo!!
Solar. Alterati
South Puerto Rico Sugar
Southern Co. (The
Southern National des
Southern Railway Com.) Standard Brands
Standard Oil of Cal. Bandani Ol of Ind. Steep Back (Toronto Exge.)
Buyers Sellers Sterling Drug Co.
Sunshine Mung
197
Swift & Co.
Textron Inc. ...
Tide Water Arm. Oll
“SOMALI” *
"CANTON"
"CHUSAN"
29 November
BEN December
Via S'pore, Penang, Columbe, Bombay, Aden à P. Bais,
"GOMALI" esita S'pore, P. S'wat., Penang, Adɛn, P. salt.
Havre, London, Hamburg, Rotterdam & Antwerp,
BRITISH INDIA S.N. CO., LTD.
Tin spat 3-month... Copper pot
month ALUM Lexo ist hall OF
Zinc 1st half Oct.
13212
2133 214
Time Inc.
J
Jas
721
60%
Tri-Coat Warrants
"BANGOLA”
00%
Twentieth Century Fox Film
dus 3rd Oct. sails 4th Oct.
Union Cartilde
Union of Cal.
Union Pace Ralway
"SANTHIA"
United Aircraft
United Cas Corp.
FOREIGN EXCHANGE
NEW YORK
Closing prices were:
Canada: 1.02 19/33; England official: unquoted; Argentina: 6150. Chers
changed.
LONDON
Closing prices were: New York ...... 2.80 3/4-2.00 13/10 Montreal Amatordam....
Bruis Copenhagen Frankfurt Milan
Paria
1.73 5/8-2.75 3/4 10.58 7/8-10.67 1/8 130.17 1/2-139-32 1/2 19.32
11.55 3/4-1
1749 3/4-1744 1/4
10.89 1/8-19.30 3/8
1377-3177 1/
Stockholm
34.48 1/2-14.48 3/4 Zurich ......... 12:20 3/4-13.21
Otter unelianged.
-UP.I.
SUCAR
Now York, Oct. 2. World No. 4 sugar futuros today closed vachanged to one sales of 69 point higher with contracts,
US. Yoll "E"
U.S. Gypsum
U.B. Line Co.
VA Rubber
UA, Smelting
U.S. Steel.....
U.B. Steel 7 P.C. PT Warner BroM, TAKARAA Westinghouse Air Brako Weighouse Electric Western Union Tel. Go, West Va. Pulp & Paper Woolworth
SUPI
PERSONAL
INCOME RISES
New York, Oct. 2. The total por capital personal Income-the average in- como of American passed $2,000 for the first time in history last year, the. "National' Industrial Conference Board reported last week.
The Board said the income [Agure hit $2,027 in 1957, and Domestle No. & auger closed that between 1959 and 1907 per unchanged to one point higher capita with cales of three contracts.
Contract No. 4 (world)
11-
Incote personal creased 30 per cent.
Connecticut hnd the highest Jau: 347: Mar: 344 May: 343: por capita incorse with_92,831, July 144 Sept: 3.48; Oct: 3.43;
Spot (cents per lb. rob Cuba: 345 based on data from the Depart
ment of Commerce. Deleware "Open interest: 8,000 portreeTR
Contract No. 8 (domestle) was rocond with $2,740 and Nov: 5.03; BAY! D.07) July: 0.75; Sept: 0; Spot-icents per ib. eft
ex-duly): 530.
Open interest) 1,122 UFJ.
contracts
New York third with #2,570,
Mild was at the boticea of the list, with a per capita Inotee of $958,--UP.I.
Chot.
From Japan for Singapore, Penang Bangoon & Calcutta
due
from Calcutta, Rangoon, Penang & Singapore Jalla Tih Nov. for Japan
P.&O./B. 1. JOINT SERVICE
“PACHUMBA"due & Oct.
"ODRA"
rails' Sih Del
due 9th Oct. anila 11th Oct.
"ORMARATM de lith Oct.,
aal. Oct.
from Karachi, Bombay,
Cochin, Tullcorin
Singapore
for Japan
from Japan
Z
far Singapore, Bhauna- gar. Karachi, Kandia & ikombay
from Karachi. Dombey, Cochin. Penang & Singapore for Japan
EASTERN & AUSTRALIAN S.S, CO., LTD.
"NELLORE"
dua Dth Del sails 7th Ort.
"NANKIN"
duo 17th Oct,
salla 39tis Ooth
from_Japan är Bhanghai for Labuan, Bandaken, Brisbane, Bydney, Mal- bourne, Burns Adelaide
龋
troe Australia & Manila tor Japan
All vessels have liberty vo call at any ports on or off the rents à the route à sailings are subject to change or somsadment with or without meiice.
For full particulars apply to. MACKINNON. MACKENZI & CO. OF HONG KONG LIÐ. Telephone Nos: 277214.