Page
HONGKONG STOCK EXCHANGE
Our Own Correspondentg
Business done on the Hong- kong Block Exchange this moth- ing amounted to approximatoly Noon
quotations $1,206,000.
and the morning'e transactiona
Mater Buyers Heliern
Shares
BANKS
ЯK Bank.
043 940
040
70 10425
Fast Asik 500
INSURANCES
Union ....
Lombard
SLOPING
Wheelock
74
342
0
100
100
23
1.63 0000
K. What? 90 104
3000
0.00
bоCKS, ETC.
Dock .....
4412
Provident
Talkoo
12.40 12.60 1000
314
LAND, ETC.
20 20.10 100
11K Land
38 24 100
I fratel
Stumphreys 16.00 10.10 000
A. Tawa
UTILITIES
Tram.... 20.00 20.00
Star Ferry Younfati
114
THE CHINA MAIL, FRIDAY, JULY 8, 1959.
WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE
BANKS REACH ALL-TIME HIGH
Hotels Set
New Record
At $28.20
By A SPECIAL CORRESPONDENT Hongkong Banks shares, reached their all-time high yesterday when they closed at $935 on the Hongkong Stock sympathy with their Exchange in
London Registers.
HK Bank Lombard VAIOS... Wheelock Ik Wharf
★
ALS
IN LONDON
*The Share Market At A Glance
·
Up.or
Saito 4
Jpbb 11
June 18
Sarne en
July 2
Down
Dividend *tars
Yeta(%)
800
835
B00
BOK
D35
+$40
30
2014b
31b
344
35b
+-250
*S
78*
20170
7114b
714
73
+51.50
31:49
5.7
LOK
5,85
* 8.30
8.80
0.03
€
B
750
dib
01750
2b
te
102
4.36
SB
11.83
HK Docks
4314
4619
-750
$5
11.0
MAKE HEADWAY
Talkoo Ducks
3316
32
stendy
$2.80
Provident
11.30
17.00
11.80m
12
12.40
81.10
8.55
IIK Motels
20.30.
20.50
27.20
27.30
28
+700
$2.50
D
HK Landa
3212
33
3312
3314
3316
+++230
$2.80
77.2
IK Realty
1,00
1,00
1.65
· 1.575
1.00
4-2340
150
HK Trams
29
28
28.20
28.00
28.20
4.00
7.1
Star Ferry
117
118
112b
.116.
110
+33
2.0
You may
100
106
109
208
116
+50
58
7
Ch Light
17.00
17.60
18
17.80
17.70
$1.10
Electrics
27.50
$27.80
27.70
27.70
27.00
-100
BINO
0.2 1.85
HK Telephone
20:30
20.30
FC.CO
20,00
20,70
+100
$1.25
0.3
G. 1. Cement Dairy Farm
3054
31
3414
250
$3.2B
D.5
10.20
1410
10.30
10.30
16.10
-200
$1.525
9.5
14.80%
14.50b
14b
14b
14.70
+500
$1
0.8
Lane Crawford
17.70
17.00%
17.00
10.70
18.40
300
$1.50
8.15
5,831
5.00%
1,900
8.90
+100
050
14.8
*.30
4.318
4.20m
4,259
4,358
steady
250
6,75
12.75m
5.05
9.10
12.60b 4.975 D
**12.cob
11.30x
11.20
+100
80%
ท
8.05
5.25
V.05
+++100
€50
30.9
8.kid
B
10.30
+$1.80
700
The shares started the morning off at $920 and Watch
reached $935 by mid-morning with a block of
47 going at this level. The afternoon sale of
15 was held at this level.,
+
The previous all-time issues, the highest this bigh was in January 1955 share has ever been. when the share was being Bought at $2,200, but since
Realty ...
100 1.020 15,000
1,112.5
RUBBE
Amale...
3.10 3.276
211⁄2 2.05 1000
2,325
Sungnia .. Р.ДО
Kelon-
1.35 6000
1200 1000 FOOD v
1.30
28.30
26.50 2014
10044
2001
17.00
A
1000
17.00
1000 &
17.00
Electric
27.70.
23
00 200
17.09
27.70
Macao E 10% 10.70 Telephone 20.90
2:00 ** 500 L
27,10
INDUSTRIALS
ZACHE . 17.00 17.00 1000 br
bonus issUC
The sudden interest in London for Banks shares, which are now
then there has been up to £53%, is becauso various of one British trust companies have been shopping around for good yielding lock in the buoyant London market. Some trust companies have picked on Banks which are now returning a good 50 per cent on their London price. Banks in Hongkong are yielding 3.15 per cent,
for four in March, 1955 and another bonus issue of one for one in 1967. This makes 24.70
the present value of $935 equivalent to 2500 20.00 $2,337.50 before the bonus
20.00 2000 of 2700 1 26.00
Cement ... 3412 3415 2000 Li
SHA
500
DOU
STORES, ETC.
10.30
Dairy Walan
14.00 10.20
1400 w
10:30
*000 17
1700
15
Lane, Crow. 10% 10.90
Wing On
20 2
6J
COTTONS
Tastilen..
6 4.30 1000
6.10
Nanyang
10.40 10.0 2000
05
MISCELLANEOUS
Viim
13
4.10
030 4.30
INVESTMENTS
Allied
11.K. & F. 134
Iruvert.
US INVESTMENT QUOTATIONS
The following are United States Investment quotations in American dollars. The buyer's quotations include commission:
Sellers Buyers
Affliated Fanel Am Buy Shy Atom Drey Mut Axe Rought D
Britain's Gold
Reserves
The Merger
Blank
Another Teason is the Hongkong
mergel with the Merentile Bank. This merger makes the Hongkong Bank one of the largest in the East.
The rest of the Hongkong market was buoyant and active after the half-year seepunt and il looks is though the should
be a boom year.
Hotels, which fee House Street circles say are making "lots of London, July 2. At the time of the devolua- money," reached their all-time high of $28,20 during the week tions in 1949, when the afore falling back to £28 yes- This share is likely to U.S. had nearly $25,000 verday.
$30 in the next few million of gold, Britain's go over
stock was about months because at present it is gold
returning a very attractive yield million. $1,300
After of nine per cent with prospects vicistitudos, it was no of an increased dividend next more than $1,600 million year. at the end of 1957.
a
Int'l Investment Anled
IK & FE Y
Textile Corp
Nanyang
13
THE TALLY; Last week, 15 higher, 9 steady, 2 lower. This wock, 16 higher, 2 steady, 8 lower.,
STEELS
LEAD
New York, July 2.
Steel shares led the stock market into new record
high ground in an active, pre-holiday session today.
Of a total 1,242 shares traded, Steels were in demand in
day marked by substan-1047 were, higher and 370 lower. American Exchange volume tially Improved volume, a fetör that heartened the bullish it was 1,170,000 shares, ment. This group was strong in the last part of the session with tickers barely able to keep pace with the volume.
Elsewhere
polais.
in the
Bonds $0,100,000.
Dow-Jan were:
volume amounted to
market prices had risen one to three 30 industrials
Some best gains were TRIE
14 utilities in the chemicals, electronles, in stocks special bonds
motors, Issues.
metals and
Drugs produced new Comm. future price Intex wide losers,
Railroad issues met better demand than yesterday and this, too help sentiment.
Steels
Average Up
Up
WALL ST TO
NEW
HIGH
GROUND
Bethlehem Steel
uhond Organ
London, July 2.
The stock market had a sunnier look again to- day. It was helped by the latest sparkle on Wall Street, which yesterday climbed to a still higher peak.
Industrials made a Nether headway following renowned selective buying. Shipping and motor shares scored fresh gains and Rolls-Royce jumped 2s to 029 td.
In stores Harrods fell boek: 18 4d to 130s 101⁄2d and House of Fraser lost îd to close at 40s Od. But Gussles roso 71⁄21⁄2d to BOS 7.
The ill-edited market was quiet with Httle movement in prices.
Gold shares opened firm but turned irregular inter on lack of interest to close mixed,
Oils hardened in response to Wall Street, Rubbers and teas occasionally Improved:
Greck borda
recovered further inn quiet foreign market--UFI
Closing Prices
Brita
£07-10/15.
cliterad bande
Transport 3%, 1079/-
Consola 2£54. Corgola V-ETAK Conversion
207-8/10-
Lash
Fanding Lowa
31903
1950/00-
Funding Stack Syk, 1999/2014~~~
45
Gutt on
Bering Airplane Borden (Thol Co. Intrroughs Add Machine
374
BL
Heyden Newport Corp.
Homestake Mining Co.
closing averages
Brius Amer. Óül Calif. Packing_Corp. Can Bk. of Comm. 654.75 C. Brewers 108.82 Campbell Boup Co. Paclite R. 08.12 21312 Cave (J, I.) Co.
B3.05 Cat, Tractor 150.
Hunan Reitis.
1214
Idaho, Power
54
Imperial Oil
41%
Ingersoll-Rand
47
Inland Steel Co.
Flörehomilani (Corp.
20/10
23
at Business Machines
114
Int'l HarveR142,
£75-1/10,
Celanese Corp,
301
International Nickel
100%
Funding
C. I. . Financial Corp.
322
International Paper
Chryster Motorn
Int'l To Tel
4012
Chatt Peabody
47
John-Marvlila Co,
Colgate-Pomalive Co.
Kaiser Industry
Colombian Carbon Co, Comtenércial Credit
4814
Kansas C. Power & Light
611
Kennecpti. Copper
3041
Abitibi Paz. & Paper
383 Consolidated Edison
6316
Kimberly Clark
Alden Inc., Aer.
Continental Oil of Del.
Liggett Meyers Tolz. Co.
Algonia Steel Carp.
Crane Co
4312
Lily Tulip
GOL
Adited Cserntcalm
1173%
Crown Zellerbach
521
Litton, Bri
1103
Allied Ballia ise
Cuban Amer, Bugar
20
Locked Aircraft
BITS
Lauttu Chalmer
Damond Alkali
Loews Incorp, *****
AN334
Loos Star Cement Co.
0015
Lowenstein & Sons.
Closing Pricos
Am. Drake Shoe
Governal Individual issues American. Airlurgy
Amiestenin Cable de Radio Corp. Afler long period of helped
send the Industrial American Cyanarid Co. inactivity, Wharves stad Pro
average
sharply. These | Amer. & Foryn, Power It has nearly doubled in the vidents are again in demand
included International Paper, Am. Cp & Fectro
Am. Home Prod. cighteen months but, atį with wharves climbing to $103 International Nickel, Goodyear, past
Am. Machi, & Fdry about $3,000 million, it is less
U. S. Steel. -the highest they have been and
of course,
American Metal than a sixth of America's and this year and Providents rising
moved up on moves toAm. Natural Cos only even per cent of the non-to $12.40, a new year's high end
strikes wildcat Communist world lolal.
Wharves are
bo reported to
generated hopes a strike would the be avoided. deing better and with present rising of the market, both these shares are showing yields of around eight per cent.
It la fortified by several thousand million dollars worth of British owned dollar assels and by drawing rights on the IMF and other secondary serves, Nevertheless, as sterling Anances nearly half the world's trade, and on Britain's liabilities
re-
7.50
4.20
5.63
0.36
R.13
4.03
Ballock Fund
Talas 15.27
Canada Gr
Fd
24.39
10.10
Canadian F
11.47
10.00
Cimadian Int Growth
1.24
Culcal Fund
11.43
10.00 12.30
Comwith Stock
16.74
27.11
Dividend Sh
01
3.38
Dreyfus Fiend
14.50
Fun & Stock
24.20
35.00 25.90
Electronics Inv
7215
gound blut Fund
10.76
11.00
Hamil Fu C-7
6.17
5.03
Instit Found!
10.
12.00
Inati Growth
11.5
33.00
Instit Income
BAM
1.42
on the world's sterling balmos utility
Invest Tr Boston
1154
12.01
Keystone Cust z
24.43
Keystone Canada
Mase In Ty
13.00
15.11
Mass Growth
34.14
1520
Nat See Ber
Growth
3,71
51.52
40.10
40.10
gold stock
16.05
17,49
13.00
13.00
14.35
10.04
Beadder St & CI
Telev El Fd
Volue Line Fund
V.I..
Wellington Fund
22.40
Chicago Grain
Market
Interest
The only interest shown in the section this week was
are three-fifths as large as this with Yaumatis and Star Pertica
US. liabilities on the world's Yaumatis rose to $114-a $0 guin
the it' is dollar
balances, British rather than the U.S. be re- that must
garded as inadequate,
Convertible
on the week---white Ferries rose to $119 $3 gain. Demand for these two shares has been caused by the government tender calling for a company to operate the new vehicular ferry service in North Point Yaumaila baye a very good chance of winning Now that the dollar has be- this tender as they already the Contral service, come one convertible currency operate among many, nothing but force whlic_preulators think that the of habit stops the U.S. being re-Star Ferry may have a chance IME substriber uccording to informed ice House garded as orE among many. Britain makes a Street soureca.
her gold sub- great point that Chicago, July 2 Corn lagged but other grains scription to the IMF really by reserves, today
strengthens her were bigher
giving her five times as much in Chicago Board of Trade
At the final bell, wheat was drawing rights. up to a coru unchanged to off; cats up ; new oats of 1% to up 3; rye off to up soybeana up 4 10 1, and lard off 17 to 20 points.
Buying was brisk in most
Turnover for this four-day during grains
the last session before the holiday.
Among rational things to do trading week was $0.64 million Washington compared with $8.27 milion last Wheat prices advanced to a sout the dollar,
week strong level when commercial tright do worse than deck a
to free the $121 buying became more netiye,
good moment Soybeans advanced, with billion of U.S.. gold locked up
as internal reserves.
on
the
local shorts buying November.
Closing prices all in
per bushol:
Wheat No. 2, red
Root
July High
Close
Corn. No. 2, yellow
Boybeans, No. 2, 76
#pot
Lerch
Now York Hour
cents
12255
Interest was shown in Watsona week causing the during the
$14.70. but share to rise profit-taking sent Lane Craw- ford down 30 cunts to $18.40.
There was stil)
which
American Smelting Am. figur ief, .... American T. & Tel American Tob
Anoconda Copper Annco Borci Amour
These moves to keep the men on the job left the Impression a
steel strike may be avoided.
Today's volume was 3,010,000 Bendix Aviation Corp. shares
Yesterday's Closing
Allas Cans Mining Taldwin-Lima Jaju. Baltimore & Onio Bank of Montreal Beneficial Finance
Benguet Cons
Diamond Gard
Dominion Stores
1116 Dougios Airersit
Dow Chemicals.... Danone do tembur
dastern Alling...
GL
פף
404 McDermott J, Ray McDonnell Arcraft Metal Iron Corp. Minnesota Mining
Milan Development
Monsanto Chemical Co.
Montgomery Ward
| Motorola Iště.
National Bust Co.
Notional Cash Reg. "A"
National Dairy Prod.
4014
174
Eastman Kodak
BT
049/
Paso National Gas
2014
Farkly Finance Corp.
30%
Firestone Tyre & Rubber
140%
Find Not, City Bank
3012
Ford Motor Co. of Canu,
1001
61
Ford Motor
753
Borgia Pacille
47% National Lead ...
T
General Dynamics
National Steel Cerp.
General Electric
A
New York Centrai
Notanda Mines Lad
201
General Motors
10
Chen, Pub. BIL
40
cien. Tyre & Rubber
7574
Norfolk & Western Ry. North Amer. Aviation Northwest Airlines
(Com.)
B1%
den Co.
20
(nodrich TB. Co
Goodyear Tyre
101.
50
Crumman Aircraft
(Trieral Foods
COMMODITY PRICES
SUGAR
NEW YORK Closing prices all in cents per ib.:
Contract No. & (world) Sept: 2.78 Oct: 3.01: Jan: 2.35: strong March 1.03-00 May: 2.4 Julyi That so low people look at it
the demand this week for cottons, 3.01; Sept: 3.03: Oct: 3.04; Spot that way implies that superficial decriers of the dol- and Nanyangs tacked on a $1.800.b. Cuba): 2.76. lar are slow in shaking off the gain, while Textilos gaired 10 subconscious habit of treating cents. it with unique deference,
Market Diary
Hero la a market diary of the
If it be said that the U.S. week: could not get rid of them withs-
cut causing a dollar panic on Friday:
may retort that, first, they were
B
chienyon Lands
Total Sales: 218 contracts, Open InterN: 6.343 Contracts. Contract No. 6 (domestle) Sept: 5.87; Nov: 5.88: March: 5.60; Epot(c.1.1. N.Y, ex-duty): 5.20
Total Sales: 9 contracts. Open Interest: 3.213 contracts.—
UF
RUBBER
NEW YORK
Rox rubber' futures closing ture of the day was prices, pll in cents par lb:
Interest
centred
Hotels
and
Weelocks. •A. tea.
}
the rise in Cottons
July
and Wheelocks.
Bapt
T/O: $1,374,000,
NOY.
The ribber section very active with raton harden-
Ja Mardhi May July
SINGAPORE
Ing. T/O: 31,195,000.
cut some years ago from 40 to 25 per cent without causing tremor; and, secondly, that it the dollar really cannot share the same freedoms as the other convertible currencies, it again
the difference beenday: brings out tween the superfidat and the subconscious attitudes.-China Mall Special.
Rubber Output
-"Washington," July 2.
of natural ĮThursdayı. World production
rubber totalled 152,500 long
1 tona in April and 640,000 long form for the first four nonthus of the year, the International.
Rubber Study Group Impot- ed today-UPI.
was
Market continued
Oct/Dec
Jan/Masch AprilJo
July/Aug.
General markets, kid. banda, July
Ank
Estade crepe thin Jally unquoted: thick Jaly 6.
AMSTERDAM
Closing prices all in' guilders per kilogram, clf. July. No. 1 cubber ..
No. 2 rubber .........
No. 3 rubber
No. 1 orepe
METALS
NEW YORK
Mathieson Oils Elevators Owen-inois
Clare 20% Oxford Paper Co.
Pacific Gas & Elec, Pan American Airways Paramount Pictures
Parke Davis Co.
Penny J. C. Co.
Ponn. Salt. Ca.
Philip Morris Pitney Bowes Procter & Gamble Co. Pittsburgh Plate Glans Pubilcher Industries Pure Ol... Radio Corporation Razia Corp. Pret, Raytheon
Republie Steel
H
Lom *** 1060/60-
Bevin's 3%, 1055/93-01-7/10. Savings 3 1000/70-8214. Savings, IDOS/25-277-3/10,
Barclay's Bank "A" Lid pris-67%
-Sank
Chartered Bank-
Honglong 0334.
Insurance
od..
Union Insurance Chiton-44-7/10. -
Aircraft and Moluen
British Motor Corp. Ord-12
Ford Motor Co
$0.
CITY LIGHTS
"Monday speech hitting capitalism-Tuesday-dis-
funds cuss transfer
to higher paying slacks -"
London Exarosa Barbica.
Breweries
Didillers C271 €80.
Building Mad Kitteriss
Associated Portland Cement-
Pinchin Johnron Associates Ord-
Raynolds Metal
100%
ftoyal Bank of Canada.
Sears, Roethick & Co.
Shell Oil Co.
Safeway Stores
374X
Saini teg. Paper
Dvt.
Schenley ine.
3724
Panor
3
243 4
Sreath, Cline & French Booshy Mobil o
231%
11,50
outhern National Ga
South Puerto Rico Sugas Borthern Co. (The)
373
13.703
Southam Railway (Con)
Ayak
10.365
Blandard Brande
04%.
Standard Oil of Ca).
Closing prices, all in cents per Salar Alremett
b.:
Land
July
Bept.
2.40 nom. 267
Zinc July
Sept
186 com.
Copper July
21.30 son
Bept.
Tin
July
Bept
LONDON
COTTON
NEW YORK
Closing prices all in cents per
Bpot: 3620 hom; Juty: 34.70; Ort: 31.50; Dog: 32.34; March: 23.03; May 33.12: July: 32.50, Oct: 30.31; Dec:.. 30.20.
NEW ORLEANS
Closing prices all in cents per
Spot: 33.00; Juty: 24.76; Oct: 32.30: Dec: 22.14; Margh: 32.35; May: 3213; July: 1; Qet: 3021 Dec: 30.20.
30.09
53786
ib.
33.00
53.40
33.20
33.20
33.36
Cloring prices all in Stratis"
LIVERPOOL
Closing prices all in pence. per lb...
American Contracté July/Aug 02 Oct/Nov: 1120:
firm with improve cents per lb. Lüb. Malayan porte Dec./cami: 1130; Sfaro Apell: 21:0
fadats in Yaumatis,
No. 1 July
Wharves, Hotels (No. 1 July and Cements, TV/D; No. Jasky No. 4. Juny $2,471,000.
1901 rubove unbated Continued... notivity ↑ No, i padu crepe with daterest 'centred on, Bunks,
Texton Cements and
Wheelock, T/O: $1,000,000.
aixen Contract
May/21816: 2155; July/AME: $15.
NAO PAULO Closing prices alt in cruzeiro per kilo.
Out: 600; Dec: 03-29;
LONDON
Choking" priods all in panco May: per-ib.:
Are
price in t
11.10b
28.70
20.01b
Standard Oil of Ind.
Standard Oft of N.5.
131b8eep flock....
101.07 Sterling Drug Co.. Stokely-Ven Camp.
Closing prices, all in sterling
per long loa..
Tia
Прот
3-month Copper
Spot 3-month Lead 18s hair July Zing at hati Fuls
Oct
Siano & Webster Studebaker Packard Corp. Sunthine Mining
swift & Co.
Texas Co,*
Textron Inc,
Thokol Chem.
Tile Water A. 'Dil"
Time Inc.
| Tri-Cont. Warrants,
Twentieth Century Fox Film
Buyers Baller
19036 791
102
703
Union Carbide
22118
Union CHI of Cal.
Union Pacific Nafiway
United Ara
Tailed Fruit_...
D011
US. Foll "it"
UA, Lino.Co.
FOREIGN EXCHANGE
LONDON
Closing rates:
New York
Amsterdami Copenhag Frankri
Path
*O**
3.81 14/10B1 D/SO 2.00 1/6-8.00 3/4 10,00 1/B-10.03 1/1
9.34 LE -1.70 1/
United Gas Corp. N
US. Gysnum
UH. Hubbar
U.9. Bret
US. Steo1 2. P.C. PT. Warner BroJ. Waukesha Motors
Air Brake
Western Union Tat. (C3. Wart Va. Pulp & Paper Winn-Dixto Blores- Woolworth (K. V.) Zenith Hadlo
Exchange Rates
URVOŠTINIAL
exchange market morner of the following ratel
Boring, notel (per 4}}}| fadonsian rupiah" (her 100).
Coal, Steel and Engineering
Babcock & Wilcox Ltd-47#.
Vickers, Lid3119 -94.
Food and Tobacco
ria American Tub. Co., Ltd- Be to,
Imperial
Tobacco Co., Ltd--57
MiscellaneoXIM
Brush Oxygen Ltd. ard-01 d. Canadian Pacifle Rly-$313,. Dunlop Rabber Com21s 30. Hongkong China Gas-125. Imperial Chemica-3s 6d, Lyons Co-Tia 44. Unilever
Bowster
Tyd.
id-06
Paper Paper Corp
Radio and Electrical
Ewedsted Flectri
Ord-
3d
glioctric Co2 3d, General Beceri Condi
Indo-Chine Sicam May. Co, der
Ord--27.
PO Steam Navigation def ord
*exiled
Great Universal stores HAN- -- Marica -&-Opencer Lid-80% 4361. Woolstatt W, 16 CO-025. Conte JP 146-7% 44. Courtauld -39; 176.
"Cons" "at-Bouth ApoAmerican
Africe 100 d
Cone dolanolds of South Abita-
Cone Line Corp: Ord-63N, DÅ, De Beers de-104 442.
„Free Place, Development & Invert-
HongkongTi 10.
Potating inde.
Band-lide 1954. Southern Kinta Cona 276-221 Lasten, Corp...$7.
Petroleum