Page
THE CHINA MAIL,
FRIDAY, JUNE 19, 1959.
WEEKLY REPORT ON THE HONGKONG
STOCK EXCHANGE
Pago 9
London
MORE INTEREST ON MARKET Closes
Rubber Trust In Sudden Heavy Demand
By A SPECIAL CORRESPONDENT
HK Bank Lombard Union
Wheelock IK Wharf HR Daoks Taikoo Docks
Provident
BK Hotels
Market At A Glance * Problem
steady
متلب
548
Expansion
* The Share Market At
Up or
Dividend
May 21 May 28
BOS
June 4
100
800
June. 11 855
June 18
Down
& Bonus
BDO
+335
2014bxd
20
30
20140
31b
+604
་
Yield (%) 5.4 0.5
Of
72
72
73
701b
714b
+11
83.40
4.75
6.95
5.90
B.83
5.00
. 6.80
750
13.9
+
0031
0144
91b
911 b
+500
"B
8.7
4071
4536
4214
43m
441%
+$1.00
35
312
30
334xd
3868
33
32
-$1
$2.80.
8.7
11.70m
11.80
11,80
11.60m
11.80m
+200
19
9.3
27.00
27.80
26.30
26.50
27.30
+80c
$2.50
9.1
HK Landa
33
3314
$314
33424
stendy
52.40
7.25
UK Really
1.025
1.025
1.50
1.00
1.55
100
9.3
more interest was
HK Trans
29.50
28.00
28
28
28.20
+200
7.1
Star Ferry.
110
115b
117
116
112b
Yaumatie
100
100b
106
100
109
+13
Ch Light
18
18.20
17.00
17.00
16
$1.10
0.1
better
27.70
21.80
27.50
27.30
27.70
+400
31.90
1.9
HK Telephole
201
20.00
26,30
20.30
20.00
j.200
$1.75
6.5
3224
3254
30
31
23
+$2
53.26
8.0
10.30
10.30
10.20
16.10
16.30
+200-
$1.625
14.809
14.80%
14.80%
14,300
14b
-300
7.2
17,50
17.800
17.70
17.90%
17.00
300
$1.50
6.5
5.800
5.95D
8.851
6.90%
8,00%
slendy
4.38
4.60%
4.30
4.376*
4.30a
-7440
200
5.8
11.80
11.20m
12.75err
12.00h
12.60b
steady
800
0.3
5.10
6.05
5.05
4.075
5.05
+70
600
11.0
8.70
8.55
0.10
D
8.35xd
+50
100
8.4
The Hongkong Stock Exchange brightened
up this week as shown on the market and the majority of
had gains shares demand.
HONGKONG
STOCK EXCHANGE
Our Own Correspondent:
Business done on the Hong
Vile
kong Stock Exchange
on
There was a lot of money around and popular shares firmed with а number substantial in- tacking on crenses.
Highlight of the week was the sudden demand for Rubber Trust, which rose from $2.275 to close at $3.03 yesterday, a 77,1%-cent gain in a week. The reson for this share's sudden popularity is rumour going rround Ice House Street that the 2 rubber company had sold
estate in Malaya.
steady
Hotels were under pressure all week and they climbed back to $27.30 this werkt
morning uniounted approxi- after falling from their post-
talely $97,000. No quota- rions and the morning's transac- Ainus:
Kharri Hugera Netters Bales
מאן
BANKS
1K Hank
Ba
BUT
2007!
32
Kart Anda
20
100
INSURANCES
Uwan
800
3200
72
Lomtato
5 a 59
12
K. Wharf.
SHIPPING
Wheelock
DOCKS, ETC
Back 441, 423
Tryktet 1989 1190
Taikeo
JK Hotel 27.30 27 1200
312
LAND, ETC.
KISA
2004
3214
IK Land. Humpareya Healty
1000
100
27.4
331,
13:30 10.10
153 1.675 0000 t 1.57
RUDDER Amalg
►
UTILITIES
Tram
2.49 2.45 11000 + 2.65 SDUE
- 28.43 20.00
Star Ferry
Youmay
1500 +
20120
160 100
100 7
1000 L
Eletric 27.30 27.00 Telephone 20.TU 20.93
INDUSTRIALS
Cement
STORES.
מטן
$7.00
war bigh of $27.00 to $20.30 1wo weeks ago.
Popular Stock
Blanks bordened in sympathy with their London Registers, which are now up to £52. This chare made steady upward pro- gress during the week and elosed 01 $800, «. $35 gain. Unions also gained $1 on the week.
The popular lock in utilities ait had useful gains during the week with Yaumatis closing at $109, a 83 rise. There is talk in lee House Street that the com pany may soon be issuing bonus shores,
Electrics
G... Coment
A. 8. Watson
Dalry Farm
Lane Crawford
Int'l Investment Alled
HK & FE Inv
Textile Corp Nanyang
THE TALLY: Last wock, 7 highor, 5 steady, 14 lower,
This wook, 16 higher, 4 stoady, 6 lower.
Heavy Profit-Taking On
New York, June 18.
The stock market ran into heavy profit-taking in
the last half hour which sharply pared gains ·
all along the line. than yesterday.
Trading was more active
Dow-Jones closing averages
were:
30 Indrala
5 stuks 40 bon 1s Comm, future price index
The market was rolling along ( until the inte realising of plo- most of the day In high gear
ts set in. Some issue Were hard hit.
20 culls Du Pont closed off arounit 15 utilitie tive points, Lillon tumbled Zenith four points, around nosedived around three, and Texas Instruments
was down around Ave.
Despite the Inte sell-off, the market managed to fish generally firm.
Closing Prices
104.18
2011
Wall Street Yesterday
231 5 C. 1. T. Financial Corp. ....
Externational Paper
17
10
83.14
Chrysler Motors
09
| Int'l Tel & Tel
374
13.50
Cluet Peabody-
Juha-Manville Co.
51
Colgate-Palmolive
Katser Industry
171%
Polinian Carbon Co.
472
Kansas C, Power & Light
Commercial Credit
1214
Kennecott Copper
100
Consolidated Faison
02
Kimberly Clark
$44
Continental Oll of Del
54
Liggett Mayers Tob. Co.
0712
Crane Co******
44
Ly Tul
54
Alttibi wir & Paper
Crown Zellerbach
50
Lifton Ind
Ha
Amen Inc. Acy.
29
Cuban Amer. Sugar
2049 Lockheed Alrerast
เ
Algoma Steel Corp.
37
Inmond Alkel
In
a
Allied Chemical
113
Diamond Gard
31
suw hew
highs
Alled Mills Ine.
Tuminion Storen
7814
Alis Qalmers
305
Fouglas Aircraft
Am. Brake Shoe
53
Dow Chemicals ...
Cements, which are yielding Gains far outnumbered losses, just under 10 per cent, continued It was the first session
exceeding new lows,
The rails had gains running | American Airline in point
Anetican Cysjamid Cu in Some of the
lenders on the vastly improvist Amer. & Fargh. Power
Ip the trame picture. Guins
a point or chemicals also ran
the leaders n.ore in some of Aulus were tructionally higher,
I rise and the last able yester-while which 2.45
day was at $33, u gain of $2. This is the highest this share has bren since 1957 when it hit a Ligh of $39. Some people think that the company will do very 20,00 well this year especially with 1180 2
the start of the building of the
Lantio 33. Shek Pikt dum on
this Fear.
Turnover for the week was up 1700 to 24.95 million compared with
$3.57 million last week.
S dana on
Dalry 18.20 10.40 2400 Watxm.. 14.10 14.40 Lane Craw, 1715 17.70
COTTONS
Textiles...
Nanyang
20.30
0.10
0.35
270
G.ED 8.20 4090
5.15 1 300
0.40 85 1000 1
13 13.30
5.90
1000 G
3 70
MISCELLANEOUS
Vium
INVESTMENTS"
int. tuvest,
Allied
.... 10.00
UK'S PRICE
INDEX DECLINES
London, June 18. Britain's official index of ro- tail prices doclined last month for the first time since last August, accord- ing to Ministry of Labour figures published, tonight. It stood at 100 points on Mty 12 (costs for January, 1956, are - used as the 100 levél).
at 110 The gure had stooct since
LAKL last November. August It dropped to 100.
The fall during May Was reduc- mainly due to seasonal tions in coal and milk prices. Reuter.
Chicago Grain
New York, Juno 18.
All prices in cents per bushel,
Wheat No. 2, red
Market Diary
Monday:
Here is a market diary of the weck: Friday:
Intercal centred chielly 021 HK Banks and Unions. T/Q: $871,000. The market showed signs of strengthen- ing. Banks were tirmer but The highlight uf the day was the rise in Cements. $071,000.
Tutaday:
TO
Hales well main- tained. Uulties and cements in demand and Banks harden-
I'd In sympathy with London. T/O; $1,273,000, Wednesday: Firm conditions
Thursday:
provalled. Banks, Hotels and Dairies improved. Interest
Cemeals
was
ns1 maintainedt,
T/O: $729,000. Good demand for popular shares at Arm or Improved prices. Banks con tinued advance and rubber shares found a strong de- mand, particularly Rubber Trust. TVO: $1,406.000.
BUS INVESTMENT
QUOTATIONS
sre
The following States investment quotations in American dollars. The buyer's quotations include commission:
Mutual Funds.
Amilated
United
Spot
100-127 nom.
July
|_ 107(11),
sept
Dec.
far. May
105111.) 18GI
1952-7
FOUTL
Corn No. 2, yellow.
Spot
July
Supt.
Dec.
May.
115 11024
Moy
nye
July
125
6ept
12336-38
Sellers BuyCIJ
Oats
July
03%
Am
4.50
Sept.
30
Atom Dey Mus
4.47
Boybeans, No. %, yellow
Spot
July
223 2231-4 -991334
Axe Hound
D Bullock Quamin Geza, Fa
9.47
a
Nov
Mar
Barley
Spot
New York flour
200 lb. sack
2111-31031 217
120-136
13.10
-UTI
Canadian Int Growth
Chemical Fund
Comwith Stock
Dividend ...
---Sept."
Jan.
Exchange Rates
Canaan-Frenzy 28.34-10.01
Drvykus Fund
Zather & 11 Block
Electronics Inv Found Mud Pund
kastis Found Inedit Growth inet Income Invest. Tr Boron Keystone Cut S
Business was done in the Inestone Citade unofficial oxchange market (this - Maja In TV. morging, at the following ratec | Mass Growth
5.75 Net See Ber drowth UB. dollars (per 33) jane Starling moles (per £1] .... 18.00 Bedder St & ci ........ Indonesian rupiah (per mica, (pur, 100)- Singapore (Stra}t@)
105 Vadira Lana pund
Tel Wellington Fund
10.30
9.20 10.17 11.62
Major Group
Of all the major groups, the dils made the worst showing. over 錢 reflecting cancern weakening price structure In the face of high inventories anti cut In Texas oil al- Jowaners Losses ran past point.
a
Today's volume was 3,150,000
shares.
• Or a total 1,205 shares traded, 506 were higher and 398 lower. American Exchange volume was 1,000,000 shares,
Bonds volume amounted to $5,200,000.
Am. Gus & Electric A Home Prod. Am. Macht & dry American Metat Am. Natural Gas An,erican Smelting Am. Sugar Rel. American Te! & Tel American E, "B"
Yesterday's Closing
30% Bugent de Nemcun
3444
Eastern AITAK
14 Faustman
El Paso National Gos
Loews Inco79. ........
Lone Star Dement Co. Lowenstein & Sons
48% McDermott J. Ray
M McDonnell Atreráci
ן
New York Centrat
Norande Mines Ltd.
Without Inflation
By SYDNEY S. GAMPELL
London, June 18.
Higher
London, June 18, The stock market rallied to- day and cloood irregular ly higher but trading continued light.
Gilt-edged
securities closed
with an all-around advance.
Industrials were
mostly firm
led by American favourites such
45 [CI, Dunlops,
and Unilever,
Courtaulds Stores And
browerles were Arm
but
engineering, electrical and motor Issues were mixed.
Dollar
stocka
reflecting the rally
04
recovered Wall Street. Grock bonds recouped early falls in' the foreign bonds
Once again, a correction 'market.
on Wall Street, after Gold stocks cared. Coppers
a rise which in pre-were dull,
vious times would
Oils were fractionally higher.
have required a full-UPL
secondary correction Closing Prices
of about 15 per cent, has been held to about four per cent.
Giltedged Bonda ONUN Transport 3%, 1970/30 207-13/16.
Consols 21y/-—¢51-10/15, Consola 4 £151. Conversion Lean 317 190
Funding Lost - 3%. 1930/09
Funding Stock 3, 1999/200→→→
LOAR $7% Funding
1963/80---- Ravine 3, 1985/65-291%. Bavings 3, 190W30-£8. Bavings 37, 1965/75-78%
20-1/10
With so much latent in- 265-15/10 stitutional and other sup-200-5/10 port, and with the revolution in investment attitudes, the market speaks for Itself. However, after a technical setback and the technical rally from the setback, the coming trend remains to be
seen.
With Wall Street a bit off ils top and with the slower rate of American gold joses, the Night out of
3d
ENGK Barclay's Bank "A" Ltd ord-ECE
Chartered Bank-4 d. Hongkong-£53!1.
Ingranes
Etm/rance
Union
Cablon- 24-1/10.
Aircraft and Maplers Britis Motor Corp Ord--13s
Ford Motor Co—B» Vid.
dollar creditorships 18 || 10750. not at the mement a stampede, The difficulties of the United States bond and money markets may have been exaggerated.
Concern
Concern has been expressed over where all the needed money 206 can be found to flannce record construction outlays, Govern- men! deficits and business re- covery. In fact, with business so liquid and the Federal bud-
get so much improved, them might be concern over where 66 all the available money- côn
Breweries
Distillery Co-10 9.
Bulidlas and Material Asociated Portland Cement-G Finchin Johnson Associates Ord 224 0
"Coal, Stevi and Engineering Babcock & Wilcox d-400 Bd. Vickers Ltd 30% 10.
Food and Tobacc British American Tob. Co., Ltd
31.
Imperial Tobacco Co., Lida
Siscalíanpota
British Oxygen Ltd. Ord-tos DJ. Canadian Paolfie Riy-43215. Dunlop Rubber Co-la efað. Hongkong Chins Gr. Imperial Chemical--ala 3d. Lyons & Coils. Untiever - Dd oor.
Faber
Bowater
A reasonable appraisei might be that the dollar is overvalued but
The | 10154. not critically 10. Americans have been displaying | 50% confidence in their system and
in their business prospects.
4214
3016
Mesabi Iron Cap
37L
say
Marrot Men
24015
0472
Miselen Doveivo:ment
324
Munsanto Chemical Co
1674
Family Finance Corp.
31
Montgomery Ward
04
Firestone Tyre & Rubber
142
25%
First Nat. Cuy Bank
274; National Co Reg. "A
National Biscuit Co.
no
581)
Ford Motor Co. of Cana.
102
453) Ford Motor
12
National Lead
Natrumal Dairy Prod.
find uses.
деля
Georgia Pacile
$916
National Steel Oxu.
DO
2731
General Dynamics
023%
General Electric
buk
Anrenda Copper Anneo Steel Armour
932 General Foods
ht
Norfolk & Western Ity.
DOR
NG
General Motor
25
Gen. Pub.
L.
North Amer. Aviation Northwest Airlines (Com)
On Mathieson
Atlas L'ON, SUNTAR Baldwin-Lima-Jan
13
Gen. Tyre & Rubber
Ole Elevators
15:4
YOU Ú
Halore & Ohio
44% Glidden Co.
Owen-tilinols Glam
4735
51% Goodrich (B. F.) Co.
Pacife Cas 4 Пес.
2şap | Guntyear Tyre
Pan American Airways
เพ
Dendix Aviation Corp.
71
Grumman Alteraft
Paramount Pictures
20
1
Gutt 0
1107
Parke Davi Co.
Pennor 3. C. Co.
1129
Hairmuat Organ
Dering Aleplane
arden The Co.
Heyden Newport Corp.
Penn. Salt Co.
#1
BU
Tumestake Mining Cloc
42
Plus Morris
SA
Burghs Add Marine
23
Hussnian Relrig.
20
Piney Bowes
371
of the steel strike,
17!
Idaho Power
44
Procter & Gamble Co.
19
Calf Parking Corp. Cana, Dk. of Comma
01
Imperial u
401
1'ilters Pinte Glam
7854
Inger.oll-Rard
DAT
Publieker Industrica
Pure Ol......
4114
Luterchemical Corp.
221
Int Business Machines
Raytheon
A
Pasig 37
talt Harvester Kä
Republic Steel
Informational Nickel
Heynold Metal
of
Royal Bank of Canada
8521
Seam Rostuck & Co.
17
Shell Oil Co,
70
Safeway Sloten ..
3
Sant Reg. Paper
Bank of Montreal Heneficial Finance
Benguet Cook.
Bethlehem Sivel
Bit Amer. Off
Campbell Soup Ca Canadian Pacific 11. Case 13, 1.) Co. Cat. Tractor Celanese Corp.
and Steel Co
COMMODITY PRICES
SUGAR
NEW YORK
All prices in cents per b
SAO PAULO
All unquoted
Average price in US. at 14
designated spol
cents. Tofal
1ales.-UP).
markets: 34.49 saics: 11,203
RUBBER
METALS
LONDON
Closing pricca, ali in steriing per lont ton; unofficial ofter- noon session;
dip Corporation
Schenley Ine.
Seat Paper
Sinclair Of
Sinith, Cine & French
Hurony Mobil Oй Solar Aircraft
South Puerto Rico Sugar Southern Co. (The) Southern National Gas Southern Railway (Co
Standard Oil of Ind. Standard Off of N.. Sleep Rock
Pentar Ara Cô
| Stokely-Van · Comp. Blane & Webster Studebaker-Packard Sunshine Mining Swift Co,
| Texre Co.
Texiron Inc.
Thjokai Chem.
Tide Water Az. dil
Buyers Sellers Inc.
Tri-Cont. Warrants
United Aircraft
225 United Fruit
The buoyancy creates danger at over-confidence
but
things
30% should go well enough-barring
BOITIU really disconcerting development such as avoidance
Renewal of the American gold
Paper
Corp
Ord---$18
Radio and Electrical Associated Eletrical-09%. Electrical & Musical-026 444.
Electric 1 d. General Electrio-3ls $3.
@hipping Indo-China Gieśṁ Nay. Co. det
PO Steam Navigation def ord
Stores
Great Universal Stores "A"-425. Marke & Donocer Lld-gát 30, Woolworth F. W. & Co-59, d. Taxtiina
Courtaulde. 07.
Anglo-American
Coats J † Lid-255 740. outflow with a loce of $50
million on June 4 and 5 after a complele lui since May 15-
Corp of South
Ari Woldfields of South Africa
15 may actually help the dollar by
discountenancing the rumours 7.
with
that it needs forbearance or a gentlemen's agrezmont forelyn Central Banks,
Recipient
Соли
Cone. Zine Corp. Ord-03) 14. De Beers delmilla (ed. Free State Development & Invent- ment--11 3.
Hongkong Tin
10%%%d.
Bouthern Kinia Cone Lid-23 Union Corp-4 d. WELL
Driefontein Goldalaing- West Rand Con263 Bd.
The Bank of England, which 7 routinely, converts into gold, did not happen to be the miatt re- 10. cipient [XT dollars. Nobody wruts ta goad the Americans into liberal policies which, though they might run the dol 50nr itself in the end, could ruln
many other things frst.
42
751
空
As the bank says, it to have the same problems is a sign of unity
North America
and
British Borneo Petroleum Bynd!- cl-2 6d.
British Patrols:
M.
Butmah-61
Co., Ltd-00
Royal Dutch Petroleum-13.
Shell Transport & Trading—133a t.Reuter.
Wester Europe have rarely Agreed Merchant.
*been so
119 united today in
24% sharing the common problem of
05% maintaining expansion without relapsing into Inflation-China
Contract No. 4 (world) July Sejl.
2.81
3.10
Tin
Jan.
2.98
Spot
790
Twentieth Century Fax Film
29
Mar.
2.00
Carbide
2012
Mali. Special.
MEY
3.07
NEW YORK
2-month
700
701
Cupper
1 of Cal.
July
3.4
Είναι
20314
| Unlum Puuille Hallway
Sept.
3.00
Spot-(t,o.b. Cuba)
7.78
Open Interest: 7.084.contracts.
Rex rubber futures closing prices, all in cents per lb
3-monit
Lead Lut Jiait
June
007%
70
fient
* Contruct No. 6 (domestic)
July
Zins in hul?"
Bent.
33.50
June
July
6.23
Ecpt
Nov
212.00
Dept..
3,00
Mon.
Nov
Mar Epot-(Ct, NY, ex-duty) 5,00 Cipen interest: 4,100 contmets.
5.60
Mar.
3000
May
22.50
July
340
-UPI.
COTTON
NEW YORK
All prices in cents per lb.: Spot: 30.05 nom: July: 34,76; Oet: 34.70: Dec: 3342-43; Mar: 37.34 May: July: 213 Oct: 30353; Deo!
30.26.
NEW ORLEANS
All prices in conta per lb.: Apot 24.10 July: 3.73; Oct: 33,43; Deg: 38,40; Mari" 29.70; "July: 32.53) Deti 30.20: Dec: 3022.
LIVERPOOL
All prices in ponce per Ibi American Contract
July/Aug1 2530, Oct/Nov:"2130: Dec/Jass: #130 Max/Apel: 21.00 May/Juner: 9130. - hiixed Contract
July/Aug: 23.10 Dec/ba?, MA; May/June) x130.
Oct/Nov 11.00, Mar2Apr: 3112:
BINGAPORE
All prices in Stralis cents per ib. Lol, Molayan ports;
DGT6-9211
0731-074
131-00
No. 1 July
Aug
No. 2 July
No. 3
No. 4
#pot robber unbaien
Elanket crepa
No. 1 pela crepo
LONDON
20-2534
R-00 03.05 101-1013
All prices in, pence per 1b.:
No. 1 Rawpb-2016 Settlement hours terme
July/Sept.
Jated Mar.
OutDec
April/June
July
General marketa, c.lf, basće ports:
Book Tatske prepot
Thin July .....
AMSTERDAM
All santimangod-UPL
United Gas Corp.
71. Folt "
"D'S. GYDINIAT
TAKU. 5. Line Co.
TO
-UP).
FORDION BACHANGE
NEW YORK
Closing rates; England official
10-days
90-days
Australia New Zealand
R$1 9/22
2.01 1/4
151 17
205 1/6
8.00 5/16
281 11/10
South Africa India Pakistan
JILA
2113
LONDON
|
U.S. Rubber
US. Smelli
U.B. Steel.
1.6. Steel 1 P.C. FF Warner tres.
Waukesia Mol
Westinghouro Ale Broke Wostinghouse Electric Western Union Tel, Co. West Va. Palp & Tapes Winn-Dixie Stores Woolwort (K. W.) Zenith Radio
Aluminium Prices
An
Oakland, June 18. Increase in aluminium prices is inevitable" later the 20-2016 220346-2014 Closing rates: *
year it the impending labour New-York ..... -231-203,
2.At 1/6-2.01 3/3 2.00 11/10-2.00 15/1n contract negotiations by major Montreal Amsterdam ....
119 aluminium producers result Brumels
in Increased wages, Mr D. A. Copenhagen...
Ithoados, vice-president and Kaleer general manager of Aluminium & Chemical Cor- poration, said. — China Mal§. Special
20-084
Blockholm MUKA ZUTI
10.00 3/3-10/01 160.00-140.35
19:20 0/1-19:35 7/3 30.01-30.03 1/ -1878 1/2-13.49 1/8 14.00 1/9-14.58 8/1 3765 1/2-1760 22.12-13.42 174 ·
-UP)
Rates
Swiss Franes, Maximum
Selling. 74.
U.S. INVESTMENT
OPPORTUNITIES OVERSEAS
New York, June 18. New US government incentives and "a more friendly foreign attitude" toward; private capital ure ex- pected to open up $25 billion worth of investment opportunity a year for American capital in under- developed nations, Chemical Week Magazine said on Wednesday.
The trade many nalet thaited by local conditions, the new U.S. guvernicht inect-megazine warned.
Invest- lives, either approved or under It tuld that foreign
"provided |ments active consideration,
totalling $40 bjilton för tax deferrals and ther con- | annually will be needed to
_the_living_standieda cessions toward income earned provont
by U.8. tax-payers overeens;--" "se unsterdersloped nations from
The article also noted that | falling further behind theed of many countries, such, as India, | the. West.
have reduced taxes on foreign ) : Internal and foreign invest- corporato earnings.
menis in those areas currently The brighter Investment eule (sko zanmijug at... only $15 billion look, however, often la temper-1's year?...UPT;