Page
THE CHINA MAIL, FRIDAY, OCTOBER 16, 1959.
WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE
TORY WIN HELPS MARKET
Profit-Taking Eliminates Earlier Gains
The Tory victory in the General Elections was a major factor in sending the local shart market still higher last Friday resulting in a turnover for the day of $41⁄2 million — the highest in ten years.
HONGKONG STOCK
EXCHANGE
by
Our Own Correspondent
Business done at the Hongkong Stock Exchange this morning umounted to approximately $702,006.
Noon quotations and the morning's transactions:
Shater Buyers SeBerz Nates BANKS
IK Bank 1671, 992
INSURANCES
Union...
SJUPPING
Waterboat
Whe'clock
DOCKS. ETC.
K. Wharf
40
4.45
11:0
FJ
200
8
S
0.45
202.
از این دارید
Ick
KAE
Provident
142 10 J
200
14
500
Talkoo
... 3.525
36
LAND, ETC
RK itatel. 91.76 2016
Hunphyresa ty
التيارك
Star Ferry 121
However, rates failed to win- tam and on Monday prices eased MF DN profit-taking Decante ruldent.
On Tuesday the market open- e regular with a still farther ensing off of prices. Most ser- itons were affected with deelings jou persistent profit-taking birl
at the clase prices appeared to rally on the appearaner of fresh buyers.
Fresh buying opened. tha market on Wednesday, resulting
a very brisk half-day's trad- Ing. Now gains were again an corded in meest nections,
BRAN
Yesterday the market
CIFT 121) appeared to be casing slight profi-taking and era- tually used (201 int trregular undertone.
The main feature of the week
demand Was Watsons Use
for
| which resulted in a price gain rifj
around $1.60.
Banks failed to maintain the $1000 mark and fluctuated be- tween $980 and $900.
Collons continued to be very i active while rubbers were weit maintained on demanal.
It appears the market
will
coulinue 10 fluctuate with
of profit-taking setting;
37.75 È periodis
m. Prices are expected to be un-
changed for the most part
Market Diary
! Friday:
44
37.75
1470
170725
1.725
RISASTER
Amul XD 3315
5000
3375
Truks
4.3)
430
15
4.17
A. Tawah
420
UTE ITIES
301, 30.70
Yaumau XD
120
1:20
100
19
200 r XX
100 $180 4.
128
200
127
Monday:
1780
C. Ligh
18.30 18.40
100
101.30
300
1649
120 ...
18.30
Betrie
1170 2164
47
1000
*
100
23.
201 20
20 20.00
201
1790 1784 0
Tuesday:
2014
1000 1
24
NE
Teleptions INDUSTRIALS Cement STORES, ETC.
Dairy
37 3714
Watson ...
Later, trans
Kwong
S. I.
COTTONS
The market spared
le new heights and ¦ record mover of t $1,529,000.
Feature of the day
the was
rise! Textiles but clse-i where port-taking was evident. Turn- over for the day was $2,720,000.
* The
11FC Bank
Lombard
Union
Wherlock HK Wharf
Talkoo Docks
Ilk Docks
Pravident
HIK Tłotels
IK Landa
IK Brally
#K Trams Star Ferry Yazmalia
Ch Light Electries fold)
Electries (new)
Electrics (right)
G.
IIK Telephone
Cement Dairy Farm A. 9. Watson-
Lane, Crawford
Int) Investment Allied
IK & FE Inv Textile Corp Nanyang
Share Market At A
133n
1.625
Glance ⭑
Dividend
& Bonus
Yield (%)
Up or
Sept. 10
Sept. 24
Oct. 1
Oct. 8
,Oct. 15
Down
037
8356
900
090
990
steady
4015
4054b
41b
4th
41b
steady
$48 $2
4.8
4.8
800
813b
80b
60
90
+$4
$3,40
3.9
6.55
4.65
0.45
6.45
€1.45
sirady
150
11.7
103
105b
∙110
119
121
++$3
$8
0.0
46)
48
4814
54
54
++$1
話
33
3314
3311
36
35%
+50¢
$2.80
7.3
11.20
13.70
14
14.70
14.80
++100
$1.10
2014
2815
30
311A
31
+500
$2.50
25xd
304
3012
372
38
4-500
12.40
1.475
1.65
1.70
1.70
steady
150
30!
3034
30
3011
2032
+60%
133n
133
133
132
-31
119
116
118
122
122xd
steady
17.90 23.80x-all
18.10
18
18.20
18.40
+200
$8 $1.10
24.10
23.60
24.10
23.50
-300
$1.90
22.7Bn
2%.700
aleady
12.80
12.90
12.80
100
29.30
343
18.40b 1814b
30 3014 18.30 20
20.80
3014
3016
300
31.75
5.7
37
371
3712
50c
19
19xd
20 xd
+31.50
$3.25
51.55
8.7
19346
20.30h
221
+$1.70
51
22
23.80
23.70
25
24.80
---200
$3
6!
6.15xd
Bxd
0
G$$
+506
050
10
414
4.85
4.550
4.606
4.625
+.025
250
5.4
11.00b
12
12.10
12b
12.10
+100
90c
8.2
0.85
7.10
7.65
8.75
+31.10
€50
11.40
12
13.30
14.80
+ $1.50
7.15 12
No New York London Has
Stock Prices
For technical ICRSON United Press International were unable to supply the China Mall with a number of items in their Anandlal service, including the New York Block exchange quotations,
Trading
Quiet On
New York Market
New York, Oct. 15. Stocks idled in quiet trading few today with only a issues showing any im- from their provement opening levels.
The market openeri The was fule of the selling irregularly and low-prrure that gave the market er in tendency with yesterday one of its deepest : declines registered declines in two weeks.
in most sections.
Profit-takting li Truders were cautious pend- earlier in some concrets news in the Tumover continuing steel stalmate.
minated
guins.
was approximately $2,040,000
canc
Support
the! into electronics following the groups Wednesday: Very active cundi-sharp setback yesterday. Texas tions prevailed with Instruments was up nearly two. electric and RCA bisk trading result-Reneral ing in several issues tacked en fractions and Litton registering gains, more than a point.
Textos
Nanyong 1470
$600 a 1590
K IN
1.50
8.03
23
MISCELLANEOUS
VILE:
1420
6.35
470 2000
4.126
Thursday:
INVESTMENTS.
Allied
18. & F.E.
Tave 1... 12.10
Chicago Grain Market
Chicago, Oct. 15. Soybeans weakened near thei
close on house selling, but other grains were steady today on the Board of Trude.
some
Wheat prices rallied from an early decline when a leading commission house bought. There Was
carly scattered Hiquidation, but offerings soon diminished. Commercial in- terests bought on the decline.
Soybeans opened weak again as fair weather burst over the grain bult Selling was scatter- Prices rallied briefly local cd. and cash houses bought on the decline.
bruker A processor November meals, were
bought
firm,
hard
Reports said West Germany took 375,000 bushels of wheat, Norway curge of corn
contingat and the
was approximately Youngstown $3,235,000.
The market
Gains of point or better was
Ist Firezione, Coca indreisive
though, and
Eusiman Kodak Col
und irading was heavy
of busi- Norwich Pharmacal. Volume
Sterls met some buying anxi transacted nesa
Steel and U.S. edged up fractionally. Motors moved narrowly, with American down around a half, Chrysler
fraction small Д General Motors unchanged.
Rails, drugs and oils rule easy In the 40 nixed. Du Pont chemicals rose nearly a point,
two Swiss Francs, 75 7/16 (Maxi- whilo Vick lost more than
in the drugs.—UPI mum Selling).
Agreed Merchant
Rates
Yesterday's Closing
and
7.0
„R*#3338868||8883864889
Quietest
Day Of The Week
London, Oct. 15.
The stock exchange council announced today that the "settling room"
clearing house for all bargains now dealing with an accumulation of documents produced by recent exceptional activity is to be opened on three Saturdays, October 17 and 31 and November 14.
Q11
settling
The last time the room opened a Saturday was in September, 1931, follow- ing revaluation of terban
by
Allhough
active very normal standarcis the exchange today experienced its quiclest day This week, with 25,504 bar- gains registered compared with yesterday's record of 32,655.
Frotil-taking at the outset enused prices to dip, but later business developed a two-way atich thd market finished irregular with price movements up and down on the day.
Industrial shares and steels continued to attract most at. tention from both buyers and
Imperial Chemical-323 441. Lyons&Co 28 d. Umlever Lid=1245.
Paper
Bowater fuper Chry and -49 £0.
Radio and Electrical
Asselited Electrical--634 . Electrical & Musical-74 60. English Electric Co435. General Electric--475 1.
Shipping
def!
Indo-Chin Stram Nav. Co.
-30% P&O Steum Navigatiem def arch¦ 134 24.
Stores
Grew Univeriti Stores "A" 4.
Marks&Speners Ltd-89 Wowoth FW&C-5 MI
Textiles
Coal & 10-31 $
Africa-31 D.
Coride Ltd--40s 10d.
行李 Anglo-American Caro
South Cons Goldiiride of South Africa -17K 7490. steel shares were a little dearer at the close.
sellers and many
Closing Prices
Gledged Bunds Erich Transport £675
Conus 2-3. Consuls 4-EMA Converstaa
£65.
Fundin
E
1
3
1969--
3. 1058/60- Funding Stock 31. 1990)2C+-- 799
Funding
£*
LUSTI
19500
Savings 3, 1939705-917 Savings 3, 1900/70-232-11/10. Savina J 1185/75— £76?.
Banks Barclay's Donk "A" Ltd ord- 57% 0.
Chartered Bank-49 flangkong-455,
Insurance
Get.
Union Insurance Canton --£77.
Aircraft and Molers British Motor Corp. Quid-90%. Farel Apriter là đi thuê
Breweries
Distillers C-318 6.
Building and Materials Associated Portland Cement--72% * 1.
Pinchin Juuhean Associates Ord-- 21.
Coal, Steel & Engineering Babcock & Wilcox Ltd- 450, Vickers LA-31 0.
Food and Tobaco
British Amestran Tab. Co, Ltd --6715.
Imperial Tobacco Co., Ltd-s 4120.
MiscellaneouE Boardman Marden Lidded. British Oxygen Ltd. Urd745
Canadian Parife_Ply-343. Dunlop Rubber Co-201 Ad.. Hongkong & China G15-15.
COMMODITY PRICES
RUBBER
NEW YORK
Rex rubber futures closing prices, all in cents per lb.:
All unavailable.
SINGAPORE
Closing prices all in Strals per 1. f.o.b. Malayan
about
cents ports;
1,850,000 bushel of soybeans. UPI.
Exchange Rates
All unbvaliable.
LONDON
Closing prices. all in pence per lb.:
No. 3 Ru spot ........ Selllement husee term:
Clet. Nov.
Estate
20-31
2015-2894
erepe Oda Oct. 341%
thick Oct. 331
AMSTERDAM
Closing prices all in gulders
per kilogram, ef. Oct.
Nu: 1 ruber
No. 2 rubber
Mu. 3 rubber
No. 1 erepo
זים 2.90
2.00 nom, 2.03 num. $38 WOIN.
---UPL
COTTON
LIVERPOOL
Closing prices all in pence per
American Contract
lb.:
35-30
Oct/Nor
2016-201
Dec./Jan.
March/April
May/June July/Aug.
Tusiness was done in the heal
market exchange morning at the following rates
thit
Nov.
21.03
Oct./Dec.
23,40
Jan./Murch
2140
US dollars (per 81) 2 Sterling rules (per £1) .............
0,72
20.9
Apili/June
21.70
July/Kopt.
21.03
Australion notes (per £1) Indonesian rupiah (per 100) Slam tests (per 103) Dingapore (Blake)
18.12
Oct./Dec.
Del/Nay
30.70
3.10
Jan./Mar
Mixed Contract
24.15 Cendrą?
Rec...
1.39 i ports:
Oct/Nov. Dec/Jant
March/April
May/June „July/Aug, Out/Nov.
ARRE
FOREIGN EXCHANGE
NEW YORK Closing rates:
Conca Australia...
New Zealand South Africa Belation
BARE
1.05 21/12 2.240S
2.7970 2.5115
Others unchanged.
LONDON
Closing rates:
Cons, log Cup. Ord.C3. 00. De Beers def-17 101. Free Slute Development & Invest- ment-0 4d.
Hongkong Tin-81034
Petang Tuy-6 30. Rand-10 d
Southern Minia Cone 14d-201 8d. Union Corp-27 7
West
Diefontein Geld;ining-
West Rand Coar-2 d.
O British Borneo Petroleum Syn.
ad
Ca.. Lid-3
Petrole.in
Burgh- K. Royal Dutch Petroleuro-£15. Shell Transport & Tratig-147. -Reuter.
U.S. INVESTMENT QUOTATIONS
STEEL STRIKE NEGOTIATIONS
TO RESUME
Sterling Never Been Stronger In 46 Years
London, Oct. 15. In Washington recently a very high American financial official remarked that sterling is stronger than at any time since 1913.
Il present strength is not so much unseasonal as unconscion- able. September is the month in which it and to be devalued In 1931 1949, and dramall- cally defended in 1965 and 1957 anong other years
This time I was also cas pres with British election month. Industry heading into a boont, the
sterling overscas
for clamouring New York money
above London's,
Brea
capital,
rates
and well!
After all of which, I brings again of more than £13 wll- lion, against an average loss of something like £40 million in the previous eight Septembers,
LEFT-HANDED
It gets some left-handed help from the difficulties of the dollar. After discussing little elst day and night at the IMF and World Bunk faceting one can only re- call the saying in another capital that anybody ?1¢ thoroughly confused is not really well informexi.
nat
Warning
Against
Trade
Limits
Vancouver, Oct. 15,
The External Affairs Mini- ster, Mr Howard Green. warned tonight that possible trade discriminn. tions by the European trading groups might
cause
serious effects to world -trnde.
Goodwill towards the dollar has never been higher. Go fat
In an address to the annual from knocking it the Europeans meeting of the Canadian Ex-
are proud to have achieved some porters Association, Green ex- independent ability to support it. | pressed concern about the pas
Thinking back only a couple sible growth of restrictiveness
in European trading policies, of years, it is no light matter that the U.S. Secretary of the Treasury now points to "the substantia)
autonomoUS and
and Influence economic power of the Western European economy in world affairs."
FAIR WORDS
Europe's fair words have ul- ready been matched by some deeds, and are likely 10 he matched by more.
to
The External Affairs Minister said he hoped that other coun- tries would continue to work toward the establishment of an "integrated world economy and not a series of Independent and mutually exclusive systems."
REVERSE
of
He declared that it the European Trade groups such as market the European common The strength of the dollar is result in increased trade dis- recognised to be a prime con- crimination against Canada and non interest of Are Western the rest f The world the nittiin femal world, just as sterling has come development
715 # be reengnised
prine tracts, nut merely in Europe, Curation interest
The rest of of ail the but in
the world, may suffer a serious reverse. elerling countries,
But some of the deeds for
"The commercial pollcirs which Washington seems to be countries outside Europe, in- would be very cluding the United States, might asking Europe difficult politically.
well be influenced in If the dollar is overstrained strictive direction,
be
the chain of events, because only Americans have abounding and could go a considerable distance justitied self-confidence in their befurc
slopped, Mr system and prospects,
i
May
to-
Washington, Oct, 15, Representatives of the steel industry and the United Steelworkers Union night agreed to resume negotiations tomorrow on the nationwide steel strike, now 93 days old and the longest in the industry's history.
came after Mr Agreement George W. Taylor, Chairman of President Eisenhower's three- man fact-finding board on the strike, said he was "not with- aut hope" that a settlement without the could be reached
laws Taft-Hartley
being in- voked.
Under these sident, after board's report,
the courts for
laws the pre- the receiving
could apply to an injunction ordering tho half million striking steelwerkers back to their jobs for 30 days.
EXTENSION
The board is to report to the president on Monday, having gained a three-day extension of his original "deadline."""
The following are U.S. Invest- ment quotations In American dollars. The buyers' prices in-have told both sides today that
clude commission:
Allinted Fu Am Bus Shrn Atom Dev Mut Bullock Fund
Dreyfus Pund Eaton & Stock Electronics In Found Mut Fd Ramil
#C-7 Instit Found Instit Crawth
Sollers Buyers 7.48 8.10 4.28 4.57
3.24
5.72
13.65 14.90
14.05 13.10
1.52
Canada Gen Fd
Canadian Fd
17.59 18.077
Canadian Int Growth
9.21
19.07
Chemical Fd
12.01
Comwith Stock
15.01
10.31
Dividend Sh
2.92
3.20
18.35 15.60
23.70
25.34
10A2 11.33
11.10
3.02 5.48 30.75 11.70 12.13
7.28
Invest TV Bostan
11.7
12.26
Keystone Cust 2
21.76
Keystone Canada
13.07
24.24
Mam Iny
in
DAT
14.30
Mass Growt
14.79
Nat See Ser Growth
8.23
8.90
Scudder B & C
30.10
30.10
Tchov El Fo
13412
(6.41
6.00
11.10
1415
Instit Incoran,
Value Line Fu
V. L. P. Wellington Fa
The
Spanish Exchange Market
Mr Taylor was understood te
reach
if they were unable agreement by negotiation they
should submit their differences -which are over a new work contract--to arbitration. Both sides said they would prefer negotiation, according to sources close to the talks.
But Mr David J. McDonald, President of the Steelworkers
| Union, told reporters later that he had seen no progress towates settlement so far. There was no basis for optimism, he said in reply to questions, "everything is status quo."Heuter,
MINERS WANT
NEW WAGE
CONTRACT
of
New York, Ool, 15.
Union The International
Mine, MI & Smelter Workers Lare resuming negotiations with Kennecott's western miatog vision in Salt Lake City-án, a now. Whɛe eontruct. The previous agreement CX- mined on Juno 80.
The meetings were
resumed
on October 1 for the first time ace the union called a strike
August 10.
Madrid, Oct. 15. Spanish foreign ex- chunge markat opened yester
would operate very day and
at the mines end plants on 0203 3/18 similarly to a "clearing house" between the 48 approved banks,
Anaconda Company and the financial sources said. hore.
union, resumed discussions Representatives of the banks Monday and Tuesday last would meet daily at the Bank Butte, Montap.. A company of Spain to make known their official match so far the meetinga buying or selling positions for have been "exploratory" with the various foreign currencies. ng new offer made by the bla Business would then be "clear
New York 700), 2.00 11/16-2.00_13/10
Mostreak
2.09 0710-2.00 11/10
ITUDI
Copenhagen
Patie Stockhairn
Min Zurigh
140.32 1/2-190.57 1/2
19.38 170-19.36 1/8 20.01 1/4-20,01 1/2 113,77 MAMINT 3/4 14:31 1/2-1432.3/4 1742-1769 1/4.
*VP
ed" with the Bank of Spalne
| China Mall Special,
מם
mining · grouID. Both sides aré
to meet "there again on Friday. i-China Mali Spostal.
it Green warned.
was
of
Ա
and such oner stericd
re-
It
The outcome of the U.S.
He said, however, that if the strikes and of various European
European groups events will not necessarily show present
and restric- suvoided "narrow that Western democracy always pregnant with inflation, live altitudes in their external If they do. Aristalle had a policles" and expansion, instead op- wari for 1 (authouritarianism) of a curtailment in trade but it very much remains to be pertunties might take place for
outside countries-UPI. scen-China Mell Specjal,
TO-DAY'S INTEREST
✔SECURITY - The Bank's Captial and
SAVING
SAFETY
Reserves.
NO Charges, Brokerage, Com mission, Fees or Stamp Dutles,
NO Capital
Depreciation -
Your funds remain at your disponi.
INTEREST is calculated on a Daily Basis
✔AVAILABIL
-Le, your money is earning 5% from the day you depo until the day you withdraw. - Convenient withdrawals -first 2100 avallabic ou demand. YIELD The 5% per annum Interest is
paid half-ycarly..
ASSETS EXCEED £50,000,000
Interest paid wichous deduciton of United Kingdom bicome tax
Write to-day to General Manager for your copy of "Bank Deposit Account" Booklet No. AOI
5%
LOMBARD BANKING
LIMITED BANKERS
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PARK JANI, LUONGO WIT
Telephone: 666 (111) (30 15003
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