THE CHINA MAIL, FRIDAY, OCTOBER 24, 1958.
NO INCENTIVE ON MARKET
HONGKONG Prices Tumble
STOCK EXCHANGE
Our Own Correspondent
konk Stock
Exchange this
In Short Week
Lowest Tarnover
By A SPECIAL CORRESPONDENT
Business cone on the long The complete lack of incentive on the Hongkong Stock Exchange this woek
morning amounted
ta дро proximately $305,000, Noon quotations and the morning's Transactions were:
Shares Buyers Hellers
BANKS
Thank 74716 7622
East Asia
INSURANCES
Union
Lumbard
SIMEPING
Wheelock DOCKS,
EXT.
Batre
sent prices tumbling.
Interest that was reviving | slowly on the market during the
90 750 past weeks after the Communist
curfire
certainly WOR
not mbelea this week with the re- 70% sumaglion Uf the shelling of
Qe moy.
02
120 / bug t
100
10
650
អៗ 10
441
LAND, ETC.
1120 1130
20.50
30 307%
30
$ 1
XXO
K. Whart. ck. Prussent,
JFK Batel
The Land
74şdarmyn 1440 10
RUBBER
Aug. XD 321,
Trust
1.66
A. Tawala
Sungala
UTILITIES
I WO
470
"I'ratis
Star Ferry 106 106 400 2 Ykunnu
الا الله
101
However, prices were holding 31 preseal levels and it is like- le it the current politka! : itune Leg tlon does not deteriorate, market wil just drift along on ite present quiet state until the ch 11 the year.
The Quietest
This week has
been the
restricted scale on account of the week being cur 1ulled by holidays.
the re- Apart from sumption of the shelling the of Quemoy by Chinese Communists which taused-buyers to adopt a cautious attitude, the market generally lacked any incentive and prices were inclined to drift fractionally lower where changed.
Market Diary
Here is a market diary of the week:
quietest on the Stock Exchange fur the whole year with the turnover for this short week of 197 two full and two half days'
trading amounting to only Friday: total of $184,000 worth +>[
Lockel
HK Bank Lombard Union Wheelook HE Warf
Star Ferry Yaumatis
Ch Light
Electrics
A Glance ★
Mutual Fund Quntations
PRICES EASIER IN LONDON
The
London, Oct. 23,
furthor overnight weakness on Wall Street and a general move to consolidate recent sharp gains on the Stock Market acted to restrain trading and pricom word today mostly castor, Gilf-edged securities sellers Buyers strong but gains
The following ore quotations of Mutual Funds in the United States in American dollars. The buyers' quotations include com- mission:
اللاهو
opened were pracu- cally all wiped out at the close following the announcement of no change in the bank rate.
RECEDED
The Share Market At
Up or
Sept. 18
Sept. 25
Oct, 2
755
74714
700
Del. 9
1521
Oct. 21
Down
TATISD
-$3
28b
281
280
280
290
steady
TED
$254
7146
754
+$1.80
5.90
5.80
8.85
5.30
5.80
-100
100%
*80
061
150
943
-300
HK Dooks
4314
4334
4814
4414
250
Provident
11.40
11b
11.30
11.25m
11.30
+50
HH Hotels
21.10
+
201
21.20
21.15m
21
-150
HK Lands
31
30
3031
30%
3014
153
HK Really
1.375
1.375
1.30
1.375
1.3700
steady
HK Tram
25.20
24.00
24.90
25.10
24.701
-100
1105
110
108
108л
100b
$2
9814
Blutual Fun
0774
08.30m
90m
03
www-$2.50
Anunted
17.30
25.55
17 Z1.20
17.20 25
17.30
17.10
-200
Am 13 hrs
6.210 4.12
4.40
HK Telephone
23.90xr
G.
.1. Cement
21.70
23.20b 21.80
21.80 22.30
25 24
24.60
100
Ax Stock
3.80
23.80
-200
foston FRE
10.04 17.50
Bullock F
13.00
14.34
17.40
18.40
16.90bxd
10.90b
10.00b
11.10
23.701 15.90 11.30m
23 15.com
--700
Canada Gen Fa
13.01
13.04
300
Canadian Fu
1/1.60
20.13
Canadian Int
1.00
5.61
Ilb
--300
11.00
Z330
wide
18.10b
13.10m
13
13
13.
stendy
100
3.07
Industrials receded on A
front. Shipping
Issues
11.2
1250
Elde
while
5.10b
въ
бъ
b
steady
24.03
steel shares
and
blue-chip
$6
сь
4b
4.05%
4b
-50
22.03
51
9.8on
9.30n
9.801
9.708
0.20b
Picrity Fund
14.77
13.97
3.65),
3.60b
3.00b
3.708
4.10s
0.801
6.90b
7.30
7.10b
+100 steady
FIF Ulan
17
4.13
Found Mut Fu
#1.91
9.71
Com Stock
12.30
1353
Hamily HC-7
4.31
ནས་
instit Fount
10.18
1.14
Insti Grow L1:
10.30
11.32
6.41
1.01
{0,41
10.43
were lower.
24.31
20.2%
дл otherwise
11.0
1274
bond marktet.
13.31
14.02
Dairy Farm
A. B. Watson
Lane Crawford
Int'l Investment Allied
HK & FE Inv Textile Corp Nanyang
6.85
*0**
MARKET ENLIVENED BY
FEW SELECTED STOCKS
New York, Oct. 23.
Incentive. A spurt in railroad issues and wide gains in a few selected
T/O: $370.000.
23%
17.00 17.40 1000
100
Electric .. 21.00
390
1750 17.30 24. 500 or 24,70
Tursday:
Quiet and fea- tureles. T/O:1
142 14 24.10
ris. 13.30 13.50
13.
CITY LIGHTS
Mac Elec..
1000
4.10
$89,000.
Wednesday: Locked
Telephone 23.20
갔다
T/O: $212,000.
INDUSTRIALS
Thursday:
Price unchanged. T/O: $311,000,
300 6
*
(ris.) 7.20 7.30
4riment 24.50 23.20
STORES, ETC
Dairy 191 13.70
Watson ...
11 11.40
Lamy, Crow. 12.00 12 500 32.00
COTTONS
Textiles ·
430
Nanyang
7.15
7.500
$20
INVESTMENTS
int. Lev...
Allied....
Discount Rate Raised
23
Washington, Oet, Five United States Federal Reserve Banks. bave raised their discount rate from two to two- und-a-half per cent effective to-
arc
"Yes, Wilkinson, there's a rise in Oils, a rise in Stores, A rise in Industrials and
Gill-edged but not in Wilkinson's salary."
London Exprese Service
It was in the last those of business
St week of August that the second lowest week's turnover for the It was just yeur was recorded. after the Middle East crisis and was down to $1,800,000,
FROTTOW.
The banker Philadelphu Richmond, Louis, Mlaneapolis and Dallas. other Federal Re- The seven serve Banks were maintaining the two per cent rate.France Presse.
stocks enlivened the stock market today.
| Star Cement Co.
Lowenstein & Sotto. McDermott J. Roy
Aircraft
McDonnell incentive.
Chicago Grain
Grain
Market
Chicago, Oct. 23, futures prices closed Dostly weak today
on the Board of Trade. Wheat No. 2, red
Sout
1921-10
100%
137%
illvidend
Trading picked up in volume after ingging for three sessions. The improvement reflected some favourable
actions, SUNI steady earnings state mcnta and
business general statirties steady cost of living index. Kemecott going on a seven-day werk basis, prediction of sharply higher earnings for farmers,
and
Tobaccos ruted strong as a
group, featured by Lorillard Schenley paced a rise in liquors, Several specials registered gains three ranging to more than points.
Declines
Stock Exge.} Mesabi Iron Corp.
Minnesota Mining Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Inc.
National Biscuit Co. National Cass Rex. "A" National Dairy Prou. National Less National Steel Corp. New York Central
IAM.
Norfolk & Western Ry. North Amer, Aviation North-west Airlines (Corn) Olin Matije
Otis Elevatore
Owen-isola Glass
Oxford Paper Co. Pacific Gas & Elec Pan American Airways Paramount Pleturer Parke Day's Co..... Penny J. C. Co.
Declines in chemicals, metals and motors brought a moderate decline in the Industrial section 12- while rails and utiles armed. Peon. Balt Co.
With few exceptions prices slipped back from the highs on an active close accompanied by
late Ucker. Of
issues
total 1,200 traded, 505 were lower, 472
1816
Dec. 19ájálf) 192M(L)
ifar
Alay
July
Sept.
Corn, No. 2, yellow
9t
1152
Dec.
110
Mar.
114
kiny
11044-34
July
237-2
Sept.
11933-12
higher.
Ryc
Tally for this week compared with two weeks ago was three higher, Ave unchanged and 17 lower compared with 13 higher, seven unchanged and five lower two weeks ago.
Dr. Mar Soybeans, No. 2. yellow
Sput Nov.
1201-43 130%
200150
Jan.
Mar.
May
6.79
16
Austalian notes (per £11
12.35
Indonesian rupiah (per 100)
8.30
S ticals (per 1001
27.09 1.
Here Is un Ice House Street observer's account of the market: the Stock Trading on Market has been
Juis
Barley, Spot.
New York flour
200 . ek
ол д
Exchange Rates
mer
in the was dore
local Enofficial erchange
Jarket thila noting at the following rutes:- U.B. dollar (per $1) ...... Sterling notes (per 1
Singapore (Straits)
2151-210
219-34
2234-223
116-130
$12.50 -U.P.I
Exchange
New York Stock volume was 3,610,000 shares.
New York Slock bond volume was $5,470,000.
American Stock Exchange volume was 1,130.000 shares.
Dow-Jones closing averages
were:
30 Industrials
20 rails
13 utiles
Enlocks
4 bends.....
Coma. future price Index ..
Closing Prices
Alden Inc. Acy.
Allied
Chemienia
Allied Milly ine.
Am. Brake Shoe
Philip Morris Procter & Gamble Co. Pittsburgh Male Gla Pubiteker Industries
Radio Corporation Radio Corp. Pref. Republic Stee) Reynolds Metal
Sears, Roebuck & Co. sheR C Co... Saint Reg. Paper Binelate Ou
Bocony Mollo Bolar Aircraft
Standard Oil of Cal Standard Oil of Ind.
201
71'
75
New York Cotton Market
New York, Oct. 23. Colton futures registered fluctuations in another quiet session today. Closing prices ruled aft one lo up one polut. The market opened off two to up one point. New Oricans closed off one to up one point.
The continued heavy rate of entries under the Government loan programme, and a forccust 14 for showery weather, which would limpede harvesting and dimming operations, combined to
mub selling pressure,
Chemical F
Dividers
Sh
Breyfus Fund Faton & 11. Da Exton & II: Stock'
Instii Inettes Iny Tim Keystone Cut Da Mrs Jay Tr Mam Growli Nat Sie flowth Smiddler Fe New Telev F Fd Value Line Fo Wellington Fu"
12.50
continued thoir
electricals eased. Courtaulds,
in a mixed textile section,
closed alightly lower on an un- changed interim dividend.
Gold hares improved, but base metais
coppers and other
German bonds were Arm in
quiet foreign
Dollar stocks were adjusted lower, and oils were narrowly mixed.-U.P.J.
CONSOLIDATED GOLD FIELDS
of
London, Oct. 23. Consolidated Gold Flolde
Bouth Africa has announced n final dividend for the year onded June 30, 1958 of $148, making 440 per share agrinet | 4/- per share previously. Subject to audit, profit of the wholly owned subsidiary new wa Consolidated Gold Fielde
£2,246,293 against £2,788,207 previously before taxation ste. The amount charged spalmet in-
vestments
*
and exploration.
reserve for Adjustment in values of certain Investments. Including exploration invest- ments, was £1,040,800 against £648,185 previously.
The final dividend will be pay-
able on December 18.
The directors are considering the desirability of sub-
£1 or dividing the existing dinary shares Into four sharea of 8/. eachChina Mail Special.
P.OBIE&A
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N. CO.
Leaves Londpu
Sailed
Due Hongkong
Fert
4th November
11th November
19
04
67
น
34
看着
GO
B
100%
Souther Co. (The)
Southern National Ga Southern Railway Com Standard Brande
4014
Conversely, buying interest slackened because of the slow
of development
buying upsurge in textiles, and a gow- Ing belief that the next govern- ment crop estimate will show on increase.
Outwards
CO
13
5116
551%
LOAN ENTRIES
*
072
week
62.26
Steep Rock Toronto Exge.j 147.2 Sterling Drug Co.
ja
15
106,00
Studebaker-Packare Corp,
13
"CANTON"
"CHUBAN"
"SALMARA"
"CONFU"
"SINGAPORE"
Homewards
6th October
Busin
15th October
10 October
17th November
2 November
86.48
191.53
Swift & Co.
"SOMALI"'*
"CANTON"
"CHUBAN"
"CORKU"
24th October
24th October
Bib November
Fiat November
10th November
24th November
Cils December 22nd Decaraber
10th January
540.72 Standard Oil of NJ.
Stokely-Van Camy.
Sunshine Mining
Texao Co.
Textron Ing.
Tide Water Amt. Dil
Time Inc..........
20%-Cont. Warrante
473
Twentieth Century Fox Fini
Union Carbide
Loan entries for the ended October 17 totalled 25.-
4713 balen, the highest for any
week the
Leason. However,
the increase was expected and arently discounted market- wine, traders said,
The net stock of 1958 crop? colton under loun amounts to
1,234,031 bales, or more th
1 three times the 400,892 bales onder the loan shelter at this time last season,
The Liverpool market today closed up liree to of 20 Eng-
1 points and 808 10 899 American points under New York futuruS.
Volume Open interest
2,700 2,000
102,000
3.700 220,800
41
28
Allis Chalmers --
Union Oll of Cal. .....
American Airline
241
Union Pacife Rellway
American Cable & Radio corp.
дь
tonited Aircraft
United Gas Corp.
American Cyanainid Cu.
Anier, & Forgn. Power
12/2
541 U.S. Foll "B
U.S. Gypsum
44122
US. Line Co.
45%
ALEX
45%
+
Leaves Hongkong bur London
**SALMANA" † 7th December
Via S'pore, Penang, Colombo, Bombay, Aden a PL. Özie. "BOMALI" calls H'pore, 2. B'Wetų, Penang, Aden, P. said,
Havre, London, Hamburg, Rotterdam & Antwerp. BALMARA calia Bejing, S'pore, PL. Bwettenham, Adeo, FL Said, London, Hamburg, Botterdam & Antwerp.
BAZ
1450
Month
Warner Bros.
Oct.
Westinghouse Air Brake
Dec.
001.
Westinghouse Electric
601
Mar.
60%
Western Union Tel. Co.
2015 Dey
4,100
273,100
Woet Va. Pulp & Paper Woolworth
414
July
4,00
173,000
409%
Oct
2,200 202,200
145
U.P.1.
Dee.
1314
MAR. Tola)
300
11,000 18,100 1,313,100 bales
-UP.I.
133,000
"BANTHIA"
COMMODITY
FOREIGN EXCHANGE
NEW YORK
Closing rates were:
Carında
England Melal
38.day': 90-days
Australa New Zealand South Africa Swizerland Argentina
Brazi
Uruguay
Dibers
changed.
LONDON
Closing rates were:
New York
Montrest
Brancis Copertingen Frankfurt 1.onn
Oslo
Atocklaufm
Mixed Contract
Oct/Nov 24.29; Dec/Jats: 23.97; July/Aug: 22K; OcyNov: 2.43.
Mar/Apr: 23 20:
May/June! PLANT
SAO PAULO
All prices unquoted.
In the
the
average price of one ineb cotton
PRICES
METALS
NEW YORK
Prices of metals
closed to. day in cents per 1h, as follows:
United States,
1.03 6/18
2001
at 14 designated spot markets was 34.74 cenis.
Lond
Oct.
2.001
Zine
2.
2,2416
Total sales were 87,702 bales. -U.P.I.
Dec. Oct. Doc.
2.01%
Tia
2331
Cupper Oct. Dec
Des.
0101
LONDON
0071
1125
2.80 11/10-2.80 3/18 2.71 12/17-2.71 16/10 130.37 1/2-139.12 1/2
10.34 5/0-10.34 5/3 11.08 3/4-11.69 28.10:00.20 30-20:50 1/4 14.48 1/4-14.40 1/2 12.21 7/8-12.52.1/8
Zurich
Others unchanged,
UP.I.
COTTON
NEW YORK
Prices of cotton futures closed today as follows:
Spot: 38.25 nom;Dec: 36.13: Mar: 30,04; May: 30.37: July: 34.42; Oct: 300: Dec: 31.88: Mar: 33.
NEW ORLEANH
Prices of cotton futures closed today as follows:
Spot: 25.75: Dee: 39.13; Mar: 30.63; May: 2021 July: 40 Der: Bić: 31.85; MET: 42,90
0;
in
LIVERPOOL
tulure Collon
closing, penge per lb. were as follows: American Contract
Oct/Nov: 4.05; Destani MP3: JURY/ANE: ELT: Det/Row: "££39.
RUBBER
Rex
NEW YORK
rubber futures today
closed five to 15 points lower
with sales of 63 contracts.
Closing prices:
10.856
12.056
12.13b
10.75b
29.35h
29.505
{1.50b
4.50b
Prices of metals closed today
in sterung per long ton
follows:
T:n
pot
3-month Copper spot
Nov: 31 Jan: 31: Mar: 30,90: Boy: 30 July: 30.05; Sept: 30.03: Zine NOVA WOLD
LONDON
The rubber måket
was dull
with spot quoted at 25% pence
Pricus:
per lb.
No. 1 Han spot
253-20
Settlement hotse tarmi
Nov. Dec.
231-50
20-201
2014-201
April/June
2014-20
July/9cpt
Oct/Dec.
General markets, cit basis,
Oct., Nav. and Dec.
Jan/blar.
SINGAPORE
Am. Gas & Electric A. Home Prod Am. Madi & 'dry American Metal American Smelting Am. Sugar Ref. American Tel & Tel Amarican Tab. "E" Anaconda Copper Arinco Strel Annour
Atlas Cons. Mising Baldwin-Lima-Ham.
Baltimore & Ohio
Beneficial Finance
Dendix Aviation Corp. Benguet Cons.
Bethlehem Steel
Boeing Airplane
Borden (The
O
Burroughs Add_Machine
Col. Jacking Corp. Campbell Soup Co.
Canadian Faclic R.
Case (J. 1.1.ca,
Cat. Tractor
Dejanum Corp.
C. 3. T. Shanelai Corp.
Chrysler Motor..... Cluelt Peabody
Colgate-Palmolive Co.
Colombian Carbon Co.
119 US Rubber
U.S. Smelting
US Steel
49 US. Steel 7 F.C. PT
as
mipers Gellerr
747
Commercial Credit
743
Commonweallis leg.
3J
244
3-mon
237
Consolidated. Edison
3015
Lead
2rt halt
Continental Oll of Del.
5014
Bud half
του
Crown Zellerbach
2nd hall
7234
Cuban-Amer. Sugar
2nd halt. Jan.
713
Diamond Alkoll
Diamond Match Co.
Dow Chemient
19032
30
12734
1021
SUGAR
New York, Oct. 23. 2014-20-1 World No. 4 sugar futures 20%-20% closed unchanged to six points ports:
higher with sales or 149 con- 1034-36
tracts.
The market opened lower in with overseas and sympathy ruled quietly steady fluctuating within narrow limits.
In the afternoon the market was rather active with not much movement in prices. Futures:
006-009% Dec, 20-09
Domestic No. 8 sugar futures closed unchanged to two points lower with rates of 31.confructs.
Contract No. 4 (world)
Jan: 137:
Douglas Aircraft
Dupont de Nemours
Eastern Airline
Eastman Kodak
El Paso National Gas Family Finance Corp.
Firestone Tyre & Hubber
Ford Motor ........ General Dynamics General Electric General Foods General Motors Gen, Pub, ul. den. Tyre & Rubber Getty Oil... Glidden Co Goodrich (B. F.) Co. Goodyear Tyra Grumman Aircraft
Gulf Ort Corp. Heyden Newport Homertake Mining Cu. Ingersoll-Rand
Inland Steel Cu.
Interchemical Corp. ........ Mar: 34: May: 341; in Businem Mixchines July: 342; Sept: 341: Del: 343 mit Harvester Ept-cents per ib. fob Cuba); 3.40. International Nickel
Open hietest: 6,614 contracts. International Paver
Int'l Tel & Tel Contract No. 8 (domestia)
John-Manville Co. Kalmar Industry mudan Nov;_8.09; Mar: 0.10; May: 5.75; Karmas C. Power & Light BOY+BOY JAY: BA5; Bant: #1: Spot (cants Campacort Copper
Linnett Meyers Tob. Co. 16-791 | per ib. cif NY ax-dytyjs
Open interest: "***" contrapla-Lockheed Aurorah VP1.
Legowe Incorp,
No. 1 rubber per lb. Nov, No. a subber per . Nov. No. 3 rubber per 15. Nov. No, & rubler Der ib. Nov. BA Prot, rubber unbelød Dannii crepa
電
Australian Loan
Canberra, Oct. 23.
$25- Australia kus raised a million loan on the New York market, Prime Minister Robert G. Menzies announced today.
The loan was underwritten by the Morgan Stanley Co., for TU investory. A previous loan of same amount was raised rarlier this year along with a $15 million sterling loan raised in
the
LondonUP.I.
Courtaulds Dividend
*
T
BRITISH INDIA S.N. CO., LTD.
in Port sails 7th Nov. "FULTALA" due 26th Oct. safik 27th Oct
"ORDIA"
Aue 26th Oct.
an-
London, Oct. 23. Courtaulds, Limited hos 'nounced an interim dividend of three per cent, less tax, which wan the same as previously.-- China Mail Special.
OPPORTUNITIES
IN CANADA
Our facilities can be of valuable assistance to those interested in the economic development of Canada and of benefit to investors in selecting suitable Investment through which to participate in the assured growth of this country.
Enquiries invited
PEARL INVESTMENT MANAGERS LTD. Tel. 28738 502, Bank of Fast Aaja Building.
from Calcutta, Rangdon, Fenapa & Singapore for Japan
Егора Јарад
For Bingapore, Penang, Rangoon, Calcutta Chitingcog
Chitta-
from Calcutta, gong, Penang & S'pore
amus 27th Oct. For Japan
P. & O./B. 1. JOINT SERVICE
"PALIKONDA" due 30th Oct. from Japan
a 3 Del for Singapore, Pasang
Cochlo, Katechi
Bombay
*
&
"OEMARA" dus 2th Nov.
13
from Jope♫
02: Nuv. for Singapore, Bunder, Abbis, Kuwali Bawah. Khorrahalır & Karachi
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NANKIN**
due 11th Nov, ps 1201 Nov.
"EASTERN" due 12th Nov.
KAUR ICU Nov.
from Japan, N. Chlpa for Labuan, Sandaka)1 Brisbane, Sydney, Mai-
boure.
from Australia for Japan
All vessels have liberty to call at any ports o or off the route & the route à sailings are subjest to change or amatőrgent, with or without notice.
For full particulars apply to : MACKINNON. MACKENZIE & 60. OF HONG KONG LID. Telephone Nos: 27721-4;
2