* THE CHINA MAIL, FRIDAY, OCTOBER 10, 1958.
New York MARKET BUYING SLACKENS Depressed
Cotton
Market
New York, Oct. 9.
Cotton futures today
Hee- sawed narrowly in an. other slow trading sen- нісп.
Afler swaying within
الة
- range of 35 cents a'bale, the market closed up three jo off seven points. Opening prices were off one
to four points,
New Orleann cloned up four to Лve points,
Prices Remain Steady
By A SPECIAL CORRESPONDENT
HK Landa HK Realty
НК
Trams Star Ferry Yaumonia Ch Light Eleotrip
110
9314
17
WES
Mutual French. Quotidians
The following are quotations of Mutual Funds in the United States in American dollars. The {buyers' quotations include com-
mission:
Mutual Funds
Bellers Buyers
The Share Market Aź A Glance *
Up or
Sept. 11
Sept. 18
HIK Bank
745
73$
Sept. 25 74735
Oct. 2
Oct. 9
Down
750
78234
+$8.50
Lombard
28b
20b
28
Bin
steady
Union
124
73b
130
72Van
718
-$1
Wheelock
5.80
5.30
5.80
$35
5.00
+40
IIK Whart
100%
LOON
04
K Docka
421
4834
4314
4314
44%
+150
At The
Close
Provident
11.20
11.40
11b
11.30
11.25m
-50
HK Hotels
20.30
21.10
20
21.20
21.15m
-50
301x4
2014
30*2
303%
leadr
1.35
1.378
1.975#
1.85
1.376
+3140
24.00
25.20
24.00
24.90
25.10
200
110
110%
108
108n
Mendy
DAYS
03
.
17.20
17.30
04.50m 17.20
Вб
+$1.50
Amiisted Fund
0.78
17.30
+100
Am Bus Shra
7.34 4.30
Ax Block
3.03 4.10
24.70KB
25.50
24.20
23.00
23.90KT
23.200
26 23.50
25
sleads
24
+200
Doston Fi
10.63
17.00
Bullock d
12.00
itja
21.10
21.30
21.80
28.80
23.70%
+1.00
Dairy Farm A. B.
27b
17.40
16.40
15.90bcd
Canada Gen rd....
13.01
14.71
18.90
steady
Canadian Fa
£3.14
19.83
Watson
10.60b
10.805
10,000
11.10
11.80m
+200
Canadian Ini. Grow.
8.40
13b
13.10b
13.10n
13
13
Slendy
Chemical Fund ....
1889
2000
5.15b
5.10b
5b
Kb
Ib
ready
Dividend Sh
2.m
3.15
4b
4.05h
+38
Dreytus Fund
12.00
9.84A
-9.801
1.800
A.800
2.70%
-100
22.20
23.00
3.65b 75
1,45)
3.600
3.60b
Zatori de 11 Stock ...
ALDS 24143
3.70%
+100
C.85
8.800
8.90b
7.106
+200
Fidelity Fund
14.03 15.36
FTFPlays_ ...
3.74
4.00
Found Mut Fd
8.79
Con Stock
11.20 13.45
Hamu Ya BC 7 .... 4.50
4.91
Instit Found
$1.00
10.24
Small operations were given News of the Quemoy ceasefire did speed
over mainly to evening-up In
We current October delivery, anticipating its
Wednesday.
Issuance anyt
expiration on
circulation of
16 delivery notices brought spot month liquidation before the tenders wero taken up mostly by Memphis and Dallas
Not interesin,
open October position today totalled 27,000 halen. The certificated stock repnained at 48,929 bales,
Mill Plans Prin, cloth ml_plans to curtail production for the real of
up business on the Hongkong Stock Exchange this week, but there was little follow through.
Although interest slackened after the initial burst of activity on the market, prices were atcady at the close of business | yesterday.
Phone nbsorbed
HONGKONG
STOCK
UK Telephone 6.1. Остель
Lane Crawford Tall Investment Allied
HR & FE Iny Textile Corp
Nanyang
EXCHANGE STOCKS
Utilities were the best gainers of the week although they closed Yau- below their best levels, matis continued to gain this week tacking on $1.50 with a middle quote yesterday of 506. the year pointed up the current slow mili demand for Both Electrie
were well spot cotton and quieter trade rights Interest in nearby deliveries. during the week and any offers Conversely, selling was dis at their prevailing levels are couraged
the continued being sought by bargain hunters.
Business done on the Hong- heavy rate of loan impounding Phone rights were up 35 cents
Stock Exchange this Entries for the week ended to $7.35, but on Tuesday they on
to approxi- at $7.50 morning amounted 175,586 were being bought
tons and this morning's trans- Noon quota- mately $173,000.
October
by
3 reached
bates, boosting the net stock to Electric rights closed at $13.70 705,130 bales, or more than after they touched $13.80 on three times the Impoundings|| Wednesday. reported to the same time last
The net lonn yent.
flock on 1050 crop option now represents more than 30 per cent of the anning to October 1,
Optimism
cotton
The optimisa over chances Raw cotton exports today totalled 10,590 bales, bringing of some settlement in the Hong- total for the season to 108,180 keng-Lancashire balva against 770,299 bales to the same time last year, de- York cording to the New
Mar.
MAY
rizon 223,000
Cotton Exchange.
Month
Oct.
1.100
Volivas Open Interest
21.400
Dee
5,700 103.900
11,100
257,000
July
Oct,
18,000 0,900
100,700
10000
Der.
4,600
Mar.
Total
2,100 03,700
130,000 10,600
1,219,0 bales
U..]
UK STEEL PRODUCTION
British
DECLINE
London, Oct. 1. steel production
har declined this
year.
year
by 80 per cent over Inst the according to figures for the first nine months of 1958 today by the Iron Steel Board.
issued
and
Ster production in Septem- ber averaged 388,6000 tons work was at the rate at 250.000 week compared with call : 282,700 tons for the same period in 1957.
Torresponding Congwring quarters in 1958 and 1957 steel production in the first quarter df 1958 fell by one per cent, in the second quarter by 10 per cent and in the third by 10 per eent.
EXPORT TRADE During recent months the math decline in steel deliveries has been to the export trade and in the homo trade to the colileries, to makers of rolling stock, to shiphildere and, with the exception of ferro-concrete bars, to construction engineers and buliders.
The Iron and Steel Board said the reduction in deliveries was undoubtedly due in part to the running down of stocks by beth public and private eon- sumers.
and
1&e
Steel production in Britain in the Arst nine months of 1968 has been unning at an annual rate of 18.700,000 tons compaṛ- ed with 21,002,000 tons in same period In 1957.
production In the Pig iron same period this year has been running a tie annual rate of 12,955,000 tuns compared with 14,100,000 tone in the first nine months of 1057-URI.
Chicago Grain
Chicago, Oct. 9.
Wheat No. 2, red
Spot
1941
Dec. 1961 (H) 17742) 19K]j=190
Our Own Correspondent
.20.20
400
actions are:
·
Sharey Darers Sellera BANKS
Rader
TEK Bank. 77.50 www STEPPING Waterbual Wheelock. 5.0% 5.00
PENG
500
which
DOCKS, ETC Dook..... 44.30 talks. Provident, ended yesterday, Whx 191 evident in the demand for both LAND, ETC. Txilies,
which went up 10 Hotel UK Land cents, and Nanyange, which Humphreys 14.00
1.35 1.40 tacked on 20 cents for the week. Besity
Chinese E 18 RUBBER Amalg. Truste A. Taweh. Sunpoin
Tram
1000 Fr
4.30 0,90
40
11-20 11.40 2002 21.10 21.30 2000
e 1120
30.50 30.75
1.05 4.073 10,000 2
1.56
2.20
190
25
12
The sudden popularity of Cement shares has been due to buyers
better anticipating ปี dividend this year than at first The reasons for this expected. are reported to be three-fold.
XD...... Firstly, Green Island have in- c. Lit
(0) 17.30 17.00 creased their export to South- cast Asian countries; secondly, Electre...
[CITY LIGHTS
Le've
#happens, sir, półno
into thetr liquid assets at this very moment"
the supply from China has been railed; and stly, the local demund for cement is still strong
Tally for the week was 13 higher, seven unchanged and Ave lower compared with 15 hagher, live unchanged and five luwer last week. Turnover this week was $2,95 million compared with $2.11 million last week,
Improvement
Here is an lee House Street observer's becount of the market:
Although the Block Market showed some slight improve- ment following the announce- ment of a temporary ceasefire on the Quemoy front, the reaction has been disappoint ingly slow, and on balance prices show Iltile change from
at the close of (home ruling the previous week.
Ulies were first to at- traci attention with the new
24.90 25:30
(r.) -13.00 13.70
Macno E
882883 88
0.30
2000 +
IRREGULAR
ON WALL STREET
New York, Oet. 9.
Aluminium issues, liquors, televisions, and papers featured
an irregularly higher stock market today.
rose to highs were set by 120 and new| Burroughs Add Machine... best levels inlows by only a single issue.
Industrial starco around their
history and rails approuched Their highest in more than a
New York Exchange volume
21.10 year, while utilities were at a was 3,870,000 shares.
17.00
new 20-year top.
were bid
Aluminium Issues up us nuch as three points in Aluminium Limited. Alcon und Kalzer rose more than a point. This group was helped by expansion of operations by several companies 1 paris of the nation.
Electronics
various
In the televisions and elec tronics, Zenith ran up four and
New
Stock Exchange York bond volume was $3,020,000.
American Stock Exchange volume was 1,280,000 shares.
Dow-Jones closing averages were:
30 industrials
20 ralla
13 nuhtler
43 stocks
bonda
Comm. future price index.
Closing Prices
Alden Inc. Acy.
gains of one to more than two Allied Chemicals
appeared in
200 23.00 Broadcasting, Raytheon,
RCA.
10
200 18.90
Telephone
(rts.)
Clement DTC. STORES,
38.00
Dairy Xb
Walon ... Lann, Caw. CUNTONS
Textiles.
11.20 11.403 12,60
INVESTMENTS
Nanyang.
Int. Invst.. Alle
ม
3.70
7.10
1000 n
4.03
2006
Schenley led the liquors American Cyasamid Co.
or more Amer. & Forgn. PowT higher with
♫ gain Iwo points. American Am. Gas & Electric Distilling rose to nearly two Am Home Prod.... Anh Hachi Fury, in Lorillard. Steels American Metal ....
7.20 than
4.00 perked up under the lend of American Bmetting
Exchange Rates
Calif. Packing Corp.
Campbell Soup Co. Canadian Pacifle R. Case (1) Co. Cat, Tractor Celanese Car C.IT. Financial Corp. Chase Manhat. Ban Chrysler Motora Cluett Peabody. Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Commonwealth Elec. Consolidated Edition 831.01 Continental Oil of Del. 147.10 Crown Zeller back
$1.35 Cuban Amer. Bugar
160.05
D6.40
Diamond Alul
Diamond Match Co.
150.30 | Douglas Aircraft
Dow Chemicals
Dupont de Nemours
Fastern Airline
Eastman Kodak
# 21ța | El Paso National Gay
메뉴
Family Finance Corp.
Firestone Tyre & Rubber
4015
品
207%
Eaton &
Bu
Instit Growth Instit IngoTYLE Inv Tr Bostan
4.37 ODA
10.22 11.08
24.20 BILDE
Mars Inv T
13.17
13.10
30m Growth
11.00
Nat Boo Growth
3.34
736
Scudder Stock
23.60
Teler Et d
12.02
13.4
| Valus Lina Fd
0.00
7.31
Wellington F'd
15.20 14.40
Market In London
London, Oct. 9. Stock markets mado a slow start today depressed by the Minister of Labour's- warning that unemploy- ment might increase in the next six months, However, the effects of this were short-lived and most see, tions pleked up and were again on a firm fooling under selec- tive buying.
Gilt-edges were In demand abcad with and prices, wen!
galns ranging up la .
For-
elen bonds and rails were irre- gular, a feature of. rails being a further sharp rise in Antolo- aasia InsuCI.
Industrials
In the
Steel
Industriala market gains were widespread. sharox were prominent and electrical equipments advancerl on hopes of Increased Govern. ment sponding to stimulate the economy. Many Yeading issues Improved. Properly share: provided many good features. Gold shares had another poor day and prices were generally lower. Coppers, however, were vary arm following the further advance in the metal price.
Oils were generally firma.---- U.P.I.
RECOVERY MOVEMENT
New York, Oct. 9. The recovery movement in the
Ualled States
Kallar strength and has a very good cliance of continuing for an extended period.
sho Guaranty Trist Company of
TA
New York in its monthly tuxiness survey.
2216 Upturns like downturns tend to
12015
feed upon themselves and to de golf-sustaining,” the survey
KAYU.
"Now that the recovery move- ment has attained a good deal of forward thrust It seems- reasonable to sexume that it will continue for an extendest period."—China Mall Special.
E&A
POBIE
COMPANIES
RESUPRAFERCAMPERNOTE FARTSJON MAINDAR pa bi mang ng 20
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
LARVEL Landon
Salled
ليم الدي
Columbia Alod Me The.
4216
and
Allis Chalmerà
2011
Ford Motor
.....
Am. Broke Bhoo
42%
General Dynamics
American Airline
2012
Generál Efectele
Am. Cable & Radio Corp.
041
General Foods
521b
General Motory
Gen. Pith. Uu...
46)
Delly Oli
Gen. Tyre & Rubber
112
didden Co.
Qutwarde
Dre Hongkong
Goodrich (B. F.) Co.
0 points
2054
Goodyear Tyre
"SUNDA"
1044
Grumman Aircraft
2011 October
Republic
which gened more than u point
Ain, Sugar Ref,...
1432
Quil Oli.........
American Tel & Tel American Tob, "D' Anaconda Copper Amoo Steci
1921
HOL
Homestake Mining Co.
Heydon Newport Cor.
"CANTON"
30th October
01
Ingersoll-Rand
0136
bland! Steel Co.
2092
Interchemical Corp.
13
"CITUBAN"
"SALMARA"
"CORFU"
1342
"SINGAPORE''
* October
Sallyd
Salled
101
4th November
19th November
October
1701 November
What Noyember,
(Am.
Homewarde
"SOMALI" *
"CANTON"
"CHUBAN":
"CORFU"
Beatos Dongkong
20. October
24th October
Oth November
Que London
29th Novemier
-24th November
8th December
22nd December
10th January
:
Bude was done in the local Unomictal exchange market thla morning at the following rates:-- US dollar (per $11
Sterling noten (per £1) ..... Autrollon axter (per £1}.... Indonesian rupiah forr 100).. star ends (per 100) Singapore (Strata
Monsanto gained more than two in the chemicals. Great Armour
Baldwin-Lima-Hanı, Northern more than two in the Alias Cony, May papers, and Liiton Industries Balmore & Ohio inore than three in, the specials, beneficial Finance
Bendix Aviation Corp. Of the 1,109 issues traded, Benguet Cons. 607548 advanced, 412 declined sa Boning Airpishe
290 held
New Dorset (Tha) Co. unchanged.
6,20 16.00
26.07 1.30
COMMODITY
FOREIGN EXCHANGE
NEW YORK Closing rates were; Canada England official
--
3-days
H
Do-days
Australia New Zealand South Africa Holland Switzerland Argentina Uruguay
Дис
ruled quiet with narrow tuations. No. 1 rubber par lb. Oct. 0434-00
Nev.
No. 1 rubber per 16, Oct. 631-3 No. 3 rubber per ib. Ock
No. 4 rubber per lb. Det 2035 07 Spot rubber unbaled
Blanket crepe
No, pale crope
The
LONDON
842-05
71-15 07-08
1.03
rubber
market
2.10-11/10 steady
spot quoted
WIJ at
2.601 2.0012
221-000
No. 1 Rae spot
270-11/10 Nov,
281-1/10 Doc.
3654
Jan/Mer.
0780
Judy/Sept
.02000)
Oct/Des
Bethlehem Steel
PRICES
Int'l Business Machines Jut Harvester
International Nickel
International Taper
Intl Tel & Tel
John-Manville Co. Kaiser Industry
Kennecott Cupper Liggeit Meyers Toh, Cu, Lockheed Aircraft Lews JacOIT. Lone Star Cement Co Lowenstein & Sons. McDermott J. Bay McDonnell Aircraft
Slock Exge.) Mew Iron Corp. Minnesota Mining Minion Development Monsanto Chernical Co. Montgomery Ward Motorola the National rust Co.
Total sales were 30,304 bales. National Cash Reg. "A" U.P.3.
SUCAR
New York, Oct. 9. World No. 4 augar futures closed today unchanged to two points higher with sales of 173
with 24-15/10 pence per lb. Prices!
****** 3431-25 Settlerpent house term:
contracts. 25-2345 23.231
April/June
point
Con
Domestic No. 5 sugar. closed y one point higher to one 2-24 lower with sales of 82
tracts.
Genemt markets, eit basis purtar Och.
イ
2.80%-3.80-17/18 2.724-9.72-5/10
Nov. Dec. Estato crepe thin Det, Batata etape thick Nov.
241,-2316
10.6614-19.5551%
.P.I.
LONDON Cinsing rates were: rights for Electries and Tele- New York phones being again well Montreal absorbed at advancing levels, Amsterdain but both closed fractionally Copenhagen
Frankfur below the best.
Lisbon Milan
Elsewhere Cements found stockholm renewed support and made Vienna useful gains of $1.40.
Taxities were a shade firmer
but dealings were fight.
There was little change in other issues.
Market Diary
Here is a market diary of the week:
1209-34 Friday:
היו
39.9216-10-33 11.4015-710395 30.23-60.50 174214-17655 14.6974-14.40 72.39-72.36
Others unchanged:-U.P.L.
RUBBER
NEW YORK
Closing prices:
Ruled steady, T/O: $683,000.
Nov,
1519-
Atary
13132
Monday:
July
armer T/0:
Sept
.Nov.
Prices generally
showed
Tendency.
Mar
May
July
Sept.
1981 1301- 105-12
Corn, No. 2 yellow
Spot
Dec.
Mar.
1301-132 114% 11734-N
Bée, now
Mar
Мду
Dec
Mar
O
Dad,
Mar
Beybeaus, No. 2 yellow
Spot
218A
Nov.
1106 Tuesday:
Mar
MAY
Spo!
New York flour
200 16. sack
110-130
$12.90
T/O: $844,000.
Thursday: Quiet
M/AL BARK,000.
ht
$750,000.
Prices well main tained. 10: $703,000. Wednesday: Dull and featureless,
conditions.
COTTON
NEW YORK
Prices of
cotton
futures
Contract No. 4 (world) Jan: 2.40:
Mar: 3.40:
National Dairy Prod. National L
¡Com.
National Steel Corp. New York Central Norfolk & Western By. North Amer. Aviation North-west Airlines Olin Mathieson .... Oils Elevators..... Owen-Ellinois Glass Oxford Paper Co. Pacific Gas & Elec. Pan American Airways Paramount Pictures Parke Davis Co.
Penny 7. C. Co.
Penn. Salt Cp. Philip Morris..
Procter & Gamble. Co.
Pittsburgh Plate Gloss.....
Publicker Industries
Pure Oil.、、、
Radio Corporation
Republic Beel
Radio Corp. Pret.
40.
Reynolds Afetal
Sears, Roebuck & Co.
Shell On Cp.
Baint log. Paper
Мау: 3.40; Juty: 3.41;
Get: 3.40 Sept: 3.41; Spol-feente per b. fab Cuba):
Open interest: 6.139 contracts. Contract No. 6 (domestic) Nov: 4.93; Mar: 5.50; May: 3.70: July: 4.75 Sept: 5.171 Bppt-(cents! per . elf NY ex-duty): 5.99.
intered Оред
773 น.ส.
contract
METALS
closed today as follows:
Spot: $120 Ort: 88.70: Deo: 36.22: Mae: 30.71% May: 30.58; Judy: 34.50 Oct: 1 Dec: 31.60: Mar: 3200. NEW ORLEANS
futures today Prices of cotton
$21.06.
50.10
30.10
30.00
30.00
10.95
NEW YORK Prices of metal futures closed
粒す
Sinclair Oll
Bocony Mobilon
Solar Aircraft
Houth Pierta 'co Sugar Southern Co. (The) Southern National Ga
Southern Railway (Com.)
Standard Brands
Standard Olt of Cal,
Standard Oil of Ind.
Standard Ou of NJ.
| Sleep Hook (Toronto Exas.)
Sterling Drug Co. Binkely-Van Camp.
Buahine Mining
Studebaker-Packard Corp.
Bit & Co.
Tide Water Aun, Oll
Tri-Cont. Warrants
centa per lb.
as
follows:
тахая се
Lipect Oct.
Zine
Copper Opt.
19.300
Textron the.
Dec.
-11.20
10.b
Time Inc.
10000
Union Carbide
D
LONDON
Rex rubber futures today closed today as follows: closed five to 15 points higher
Spot: 34.75; Pet: 1501; Dent 20.30; with sales of 100 contracts. Mar 2010 Stay: The 20
54.70: Get: 2015: Dec: 120. Bar: LIVERPOOL Catton future closings, in pence per ib. were as follows: America Cantraci pet/Nav: 443: 10.23
'Dec/Jan: 3453; Mar/Apri: Ho; May/June: 24,05: The tübber market was July/Aug. 22.05.
Mixed Qintrach steady. Prices closed today in auliders per kilogram, cif Oct. Mar Apisi 110 MAY/JU: 24.53:
Gol/Nav: 21.96; Den/Jan: 24.90: follow:
AMSTERDAM
ps follows:
No. 1 rubber
2.40 gek
gła, a rubber?
No. 3 malber
No. 1 pres
LINGATURE.
July/Aug: 2373! Oct/Nov: 23.31.
SAO PAULO
חכם לב
27016
D3,000
94506
Prices of metala claced today
Twentieth Century Fox Film
Union Oll of
Union Facile Railway
United Aircraft
United Gas Corp.
4
U.S. Foll""
8. Cyp
US. ne Co
B. Amelting
In sterling ger long ton 9.8. Bubber
Copo
-meth All prices ungulied today.
Sure th・ in the United States the Lenka Liu kund Rycrage price at oneelboli cat,
The market sened higher un fon al 18 stijenata spot maar, zato lat tipiz
"end_kets was $1.75" cats,
Buyer Sell
17. steel an
7730a 1974 U.S. BIR Y P.C. PP
Warner Bros. Westinghous
Air Brake Westinghouse Mectric ........ Western Union Del. Co. Was Vk. Pulp & Raper-
な
1214
11 November
"SALMARA" † 71h Berember
Via S'pore, Penang, Colombo, Bombay, Adeo a Pz Szia. "SOMALI" calls A'pore, F. S'wet., Penang, Aden, P. Seld,
Elavre, "ondan, Hamburg, Rolteṛdam & Antwerp.
1 BALMARA calla Rejang, S'pore, Pt. Sweitenham, Aden,
Said, London, Hamburg, Rotterdam & Antwerp.
BRITISH INDIA S.N. CO., LTD.
"BANTIA"
de 15th Oct.
All 7th Nov.
"FULTALA" due 22nd Oct.
salis 23rd Oct.
From Calcutta, Rangoon, Penang & Singapore for Japan
from Japan
for Bingapore Pemang Rangoon Calcutta
Chittagong
P. & O./B. I. JOINT SERVICE "PACHUMBA".
In Port
salis 11th Oct.
La Fort
“OBRA"
A 11th Oct.
"ORMARA"
day 14th Oct.
salis 19th Oct.
from Karachi, Bornbay, Cochin, TubDopla Singapore
Бог Украд
from Japan).
for Singapore
4
Bhayna-
ger, Karachi, canals de Bombay
From Karachi. Bombay Cochin, Penang Bingapore
for Jupan
EASTERN & AUSTRALIAN S.S, CO, LTD.
"NELLORE"
due et Oct. salls 15th Oct.
"NANSIN"
due toth Oct.
anile 19th Oct.
from Jepan de Shangfri for Leirown." Hebdakan, Brisbane, B
bourge Adelaide
Fram
Australia
JYZASILIM Jof Japan.
All vassola 'wave liberty to call at any porta am or of the rents às the route à millsgs are subject to change or amandmani with or without notice.
Teo full particulars apply ta's MALKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos: 277214.