London Market
THE CHINA MAIL, FRIDAY, FEBRUARY 5, 1960.
WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE
dampened by MARKET REMAINS ACTIVE
strike threat
London, Feb. 4.
Prices on the stock market slipped again today under the shadow of the threatened national rail strike.
Industrials and dollar stock were the hardest hit in resetion. 10 yesterday's failure of a rally
on Wall Street,
Oll stuck were lower. Coppers tended to frm ut the carlier weakness. eloso after
Gold stocks were mostly lower. Persistent investment deinand ashed up giltedged securities.
Germna and Greek liens glive life to the foreign bond market. bu: Japanese bonds cared.-UP
Closing prices
ciledged Monda
Benim Transpor
L.10.
Cool 2mm £ £94.
Crawls &
£54...
107/ng-
1DGE
Funding Lawaz 3%, 1950/60-$41y.
Fund Stock
£71.
tel.
Funding, Lou
Lines 32,
34, 1000/2004
150/£4.
[X]/700.
Havings 195/45-£12.
Sarings 35. Savus
1965 75 - £7595. Bark Idelay's Bank "A" Lk ord-05
NOTICE
THE HONGKONG AND SHANGHAI BANKING
CORPORATION Ordinary Yearly General Meefing
HEREBY NOTICE IS GIVEN that the Ordinary Yearly General Meeting of the Shareholders of the Corpora- tion will be held at the Head Office of the Corporation.
Queen's 1.
itond Centrai,
Hong Kong, on Friday, the 11th day of March, 1960, at Noon for the purpose of re- colving and considering the reports of the Directors und of the Auditors and the Accounts for the year ended 31st December, 1959, and for the election of Directors and the appointment of Auditors.
THE REGISTER OF SHARES of the Corporation will be closed from Friday, the 20th day of February to of Friday, the 11th day
March, 1960, (both daya inclo- siva) during which period no
Chartered Bank-036. Hongkung-201
Lloyd's Bank-cos.
Insurance
Union Insurance Cantua
C5-13/10.
Aircraft und Motors British Motor Corp. Ord-21= 1924, De Haviland_Alresaft—K Font Motor Co-109 Hawker
11.
Del.
Siddeley Croup Oid-H
toole L "A"-10%_7%d. Standard Triumph Iničrnational-
Breweries Distillers Lu-30% 2!;d.
byudine and diasetlats Aseintel Pertine
Some improvement the
before
Chinese New Year
Contrary
to
expectations
the Stock
Market improved with the advent of the Chinese New Year with gains well spread over the board.
The market had before that Inken quite a beating with the part Inquiry
Cone-Electricity
London bank
Goudlass Wall & Lend Ord followed by the announcement
el a rise in the rate.
„Pinehty Juliñacti Associates Drúm 405 1910.
Loki, Rteel and Engineering Babcock & Wilcox Ltd-45%. United Steel-00 3
Food
Jl.
Vick Tobacc British American Tob. Co., Ltd 13 Ju
Supertul Tobacco Co. Ltd~45. allaceanPLAN Is Marilyn Lidlunda Del. British Oxygen Ltd. Ord-Ex M. Canadian Pacifle y-$47.
Rue Co. Lid Ord-70s. Bunkon Rubber Co--254.
Longkong & China Ga#-13. imperial Chemical Jd. 1.yan & Co77_64. Unilever Lid 137 G.
Paper
Howater Paper Corp Ord-73 kl. Hadio and Electrical Asocuted Electrical-03# £xt. Firetricul & Musical. Fulbo Eletre C-418, General Electric Mr.
Shipping. Indo-Ching Steam Nay, Co. def
-32 41d.
20 Stearn Navigation
47 34.
Stores
Great Universal Stores "A"--50%.
def
Marks & Spencer Light Woolworth F. W. & Combla
Textiles
Coats J&P_Lid—36 11⁄2d. Courtnuids Ltch-23,
Cane Goldfields of South Africa
34 3.
Cons, Zine Curp. Ord-730.
De Beers tier-19s 15 cor. Hongkong -- 4140. Petaling Tin - 1.
Kinta Com Lld-20 1. Union Corp)-85 4154. West Driefontein Gelamining---100
.
Oil
British med Petroleum Syn- cat6-57% kl.
British Petroleum Co., Ltel-844. Bush-49
Royal Dutch Petroleun-4159%. Shell Transport & Trading÷194 Od ear.
-neuter,
Chicago grain market
Chicago, Feb, 4.
After the holidays the volume of business continued strong and the market itself was compara- tively active with interests well ispread.
Livo
There were signs of easiness days as the Icet during profit-taking set in. But the Jumaver continued satisfactory and the undertone steadied at the close yesterday.
The outstanding feature of the week was Allied Investors which suddenly shot up to $6.40 after [being around $5.50 or there-
abouts for months.
Gas Company
Wheelocks
* The
JK Bank Lombard
Union Wheelock BK, Where
HK Ducks
share
market
Jan. 7 1105
Jan. 14
1105
99%b
Jan. 21
1180m
at
glance *
Dividend
& Bonus $48
Up or
Jun. 27
Feb. 4
Down
Yield (%)
1205
$195
-$10
·
3944b
3011
3044b
40b
+500
$12
24
DA
DJKN
126
+$3.50
$3.40
9.6
0.15
6.15
€10
0.10
01/
+250
200
3,8
1480
148
149m
149
'150
+31
$8
5.3
48
0734
BOX
58
673
-500
哲
8.0
Talloo Docks
4044
402
42A
43
12
-$1
$3.80
0.8
Provident
17
17.20
17.40
1R
18
steady
$1.10
G
HK Hotels
3331
334
3341
3544
36
+506
$2.50
6.6
KK Lands
304
40
4134
45
45
Klondy
TIK Realty
1.525
1.625
1.525
1575
1.675
+100
$2.40
150
4.D
9.5
UK Trama
3231
3314
334
393/1
3312
-500
$2
0.1
Star Ferry
145n
145
147n
1476
145b
-$2
39
6.4
have
L
Yaumatis
131
131
190
196
133
-$2
4.2
Ch Light
20.26
20.20
18.80
18
18.60
400
$1.10.
0.9
20.40
20
24.10
24.70
24.20
50¢
$1.00
7.0
25.20
20.70
2270
23.30b
22.00
-100
3214
3214
32
3374
33
---250
$1.75
40
403%
4214
44
4432
+290
$3.25
22.20
22.30
23
24.60
24.00
.steady
$1.55
22
21.80
22.206
23.40
24.70
+$1.30
31
4.1
21.30
3740
27.70
29b
20.400
+400
$2
Int'l Investment
6.80
0.60
6.701
стов
7.10
Ko
ht
9.2
$14
8.65
5.00
5.03b
0.40
+750
250
4.2
a
IIK FE Inv
12.70m
13.00
13.009
14.00
14.20
+-600
100
6.4
Texille Corp Nanyang
9.45
8.30
9.36
9.05
9.80
+Le
05c
0
14,90
14.008
14.50
14.00
15.30
+-400
700
themselves shown a gradual rise over the past three weeks and closed at $0.25, the highest it has been for some time.
The gradual rise of Watsons. Crawford's and Dairy one. Formy was accompanied by a gned Emount of renewed buying interest.
Both the China Lights and Electrics have cosed after slight recovery attempt.
Cements have continued active. with substantial gains registered. These shares have risen to $44 from $30 at the end of the year. Interest 122 Banks and instances appears to have fallen off one tile business has been transacted in these stocks.
The market appears to be settled at present levels. Tum- over continues to be good with an average of around $3 million ja dny.
Market diary
Rumour has it that the Hong- keng and China Gas Company are planning to refloat their Monday: flates Gas Company
shares comprise the major holdings of Allied Investors.
An extremely large volume of Realties were transacted during the week at Improved prices.
This reflected
renowed interest in the Wheelock group,
HONGKONG
STOCK EXCHANGE
Our Own Correspondant
Business done at the Hong-
Exchange this kong Stock
transfer of shores can be Old crop wheat futures rallied morning amounted to approxl.
registered.
By Order of the Board, MICHAEL W. TURNER,
Chief Manager.
Hong Kong, 26th Jan, 1960.
near the close, but other gráins were moally easy taday on the Chlearo Board of Trade.
mately $2,084,000. Noon quota- tions and the morning's trans- actions:
BANKS
Shares Buyers Sellers Long liquidation and profit- taking depressed old crop wheat ik Bank. 1193 1200
cent in early more than A trading. UPI.
HAPPINESS &
PROSPERITY
go together when your Funds enjoy
SECURITY
INTEREST
in a
LOMBARD BANKING
6%
BANK DEPOSIT ACCOUNT
Interest palā mishen deduction of United Kingdom Income tax. Write today to the General Manager for your copy of "Bank Deposit Account" booklet No. 40.774
LOMBARD BANKING
Hand Cyler i
LIMITID DANKERS
LOMBARD HOVER, GERZON WIRELE
PARK LAKE, LONDON. WI Tutaetme; 382 4:11 380 (NO
Arealated Banki
· LIMKANO BANKING (EAN KAUT LTD
[4.0, BOX KISI, NEDOWS FLOOR FILATION 1990SE, RAFFLESTWAY HERUDEX. Tiesino: 396/0
A World-Whale Bhasking seed Tiamiice nemetsacion
Lombard..
INSURANCES
Unt
SHIPPING
Wheelock
DOCKS, ETC.
Whart
Duck
GTAL 8015
Salce
5 1200
u 1500
TO GE 1110 401205
GA 0.30 7020 014
10000
200 ne 150 2000 (4 Provident. 1.20 18.30 300 18
1870 18.10 18.20
41 Taikoc
42 1850 $ LAND HIC HK Hotel 35% 30% 1000 430 200 $30 1004514
IIK Lan. 45 45%
200 * 40% 300 & 250 Humphreys 22.30 22.40
200 22.30 Realty
.... 4.53 1.40 boce 1.050
| Amaly, an
Trust
UTILITIES
Tram
Stay Ferry
Yaumati
153
Tuesday:
Electries (old) Electrics (new) HK Telephone
G. 1. Cement Dairy Farm
A. S. Walson
Lane, Crawford
Allied
NY MARKET CLOSES
New York, Feb. 4.
The stock market moved through an irregular pat-
tern today with trading on the slow side.
The erratic movements of the Batllmore & Ghio trading with list in the first
threo sessions Beneficial Finance
There
Was
Cair
interests fairly well of the week drove many traders, Bendix. Aviation Corp.
spread.
of Bank East Asio an- nounced a dividend
of $12 on the old shares. Turnover for
the day
$3,233,000.
to the sidelines developments.
Cuse 13. 1.1 Co. Chase Manhal. Dank Chrysler Motors
IRREGULAR
401, Southern Ch. (The)
Sperry Rand
Standard Brands
22
74
Standard Oil of Cal.
301%
Sleep Bock
291.
Standard Ol of Ind.
Sterling Drug Co.
234 Stokely-Van Camp.
pending new
Benguet Con Bethlehem Steel Boeing Airplave Campbell Soup Co. Canadian Paciße R.
17
Swift & Co.
010
Texas Co.
03
Tune Inc.
37% Viton Carbide
4715
Union Pacific Railway
30
Cotted Aircraf
02
United Gas Corp.
00
US. Fell "D
48
1.S. Gypsum
BUS. Nübber
Most of the experts now be eve there will have to be a wa further test of last week's lows before any turn-around in the The market Temaritet could develop. mained Brn al-
The better gains were re- though there was a glstered by lasuca autside those slight decline
i used to compile the overiges, volume of business.
Electroales were in the spol- Price changes were light with gains of around two fractional. Turn points in
Texas Instruments over was $2,610,000 and Ampex, and more than one
General Time.
Wednesday: The
market
was
netive but irregular during the half-day session. Colton and Rubber shares well
wero
sup-
ported. Turnover was around $1,683,000.
Thursday: The markei was ac-
An optimistic report on the auto industry's prospects helped Arm the auto Section. American! Motors rose more than two, and
Ford, Chrysler and General Motors added fractions.
Today's volume was 2,000,000 shares.
Bonds volume amounted $5,050,000,
Colgate Palmolive Co.
Columbia Carbon Co. Comarelal Credit Consolidated ExXxcon Столе Сь, Crown
Zellerbach Cuban Amer. Sugar
mond Alkall
Douglas Alecraft Bosman Kodek Firestone Tyra & fubber Ford Motor General Mectric General Foxxis General Mother Goodrich in, F. Cu Glidded Co.
Goodyear Tyro steyden Newport Corp. Holistake Mixing Co. Ingersoll-Rand
Int'l Business Machines Inti Harvester .... international Paper Intl Tel & Tel
Johns Manville Co
Kansar C. Power & Light Kennecoti Copper
to Litton Ind.
Of a total 1,192 Issues traded, tive resulting in u
turn-423 were higher and 610 lower. satisfactory
American Exchange volume and over, Banks
was 800,000 shares. Insurances
were neglected while China Lights and Electrics appeared to be easier. Volume of business was $3,480,000.
U.S. INVESTMENT
QUOTATIONS
The following are U.S.
Dow-Jones closing
were:
30 industriais
20 rails....
15 utilities
05 stocks
40 bonds....
Comm. future price inder
Lockheed Aircraft averages Minnesota Mining
McDonnell Alneraft
Closing prices
Allied Chemicals
Allis Chalmers
American Airline
Mication Development
1.14 Montecatini
151.74 Montgomery Ward
15.87 National Cathy Beg. "A"
2021 National Lead
31.29 New York Central
in Mathieson
Otis Elevators
140.31
Pacific Gas & Elec.
Par American Airway
Paramount Pictures
Patke Davis Co.
Piltsburgh Plate
37 5. Steel
宮
Warner Bros.
Westinghouse Electric 12345 Western Union Tel Co.
2015 | Waniwarth (K. W.)
1016
4015
50
1714
4154
434
Rubber market
1172
2002
4722 0322
02
quiet
Singapore, Feb. 4. The market ruled quiet with main interest centred on February and March No. 1 Ras switching.
CEYLON'S TRADE -
WITH CHINA
Colombo, Feb. 4. The import of Chinese goods into Ceylon has increased considerably in recent months enabling China to wipe out her debt under the rice-rubber barter deals, Recording to authoritative figures pub- lished here.
M
China owed Ceylon about 81 million rupees at the end of the first five years of barter trade between the two countries on December 31, 1957. By the end of June last year this was roduced to 210,000 rupees 38 result of China sepping up her exports outside the barter deals, in the 11 months ended Noven- ber last year China had ex- ported goods worth 129 million with up-Trupees to Coylon against im- sellers coming out ports from Ceylon to the valuo prices reduced to the day's low of 76 million rupees.
and ofgrades
Lower sheet neglected 19small demand for 4436
found sellors reserved.
The afternoon market was 71% slow to
start but
3
Fenn. Sall Gla
201
Radio Corporation
Am. & Forgu. Power
Am Gas & Electrio
19
Republic Steci
0014 country
GOT
in Americas Metal ....
American Smelting
2014
Reynolds Metals
63
$525
Rheem Mfg.
024
Sears, Roebuck & Co.
48
107
Shell Oil Co.
FTER
00
Sinclair O
等面
Sucony Mobil Qui
Io
Tie i Solar Aircraft
20% market was easy today---UPI.
vestments in American dollars. American Tol & Tel Buyers' prices include commis-Amertem Tob.
slon:
Affiliated Fund
An Bus Shra Atom Dev Mut Axo Houghton B Bullock Fund Canada Gen Fund.. Canadian d Canadian Int Growth
Chemical Fund
Comwith Stock
Ansoenda Copper
Sellers Buyers
7.00
7.07
Armen Steel Baldwin-Lima-Złam,
3.99
4.20
5.10 1,03
3.32
12.73 13.74
13.73 14,54
10.81 18.10
Yesterday's Closing
20% at the close,
Some Interest was in lower
sheels with factories quiel.
Cryion's exports were largely rubber.
Willo rice continued
Amsterdam, the rubber to be China's main export to
COMMODITY PRICES
10000 or 1,050 5000 1,050 2000 1.675
0.09
10.70
10.05 11.02
4.77
0.10
4.10 $275
4.54
327% 33
4.35 3000 4,30
14.08 19.95
Dividend Shra
2.07
3.14
Dreyfus Fund
13.00
14.20
Eaton How Stock
23.40
26.02
3314
Electronics Inv
8.00
Found Mut Fund
10.22
11.11
Har H
457
1,43
Insti Found
10.04
11.53
Instit Growth
10.74
11.74
Inatit Income
0.05
1.12
Inven TT Boston
11.00
12.00
Keystone Bus 32
21.03
2340
13.21
14,30
12.91 13.04
13.30
$4.00
9.24 9.01
1821-18.21
7.54 8.27
NEW YORK '
0.13
0.0
Closing prices all in cents per
10.34
11.74
lb:
13.00
14.50
Lead
Zinc Copper March
March May
March May
C. Light 18.80 18.00 2300 a 1070
Electric
500 41 18,70 Keysume Canada
2000 & 10.80 Main Iny
Tr
1000 on 18.80 Man Growth
500 or 18.00 Nat Bea Ser Growth 500 or 30 90
408 # 10.80 Scudder St & C
Tele Et Pund.......
100 se Value Line Fund
241 24.00
2000 68 2435
1000 10.50V. P.
Wellington Fund
New 23.20 235
BUD en 2435
500 24.00
QUE (23 142021.20 1500
Telephone
INDUSTRIALS
Macao E.
11.50
331 3334
,!,,**
Cement
750 44 44!% STORES,
*ETC.
2:00 Dairy...... 24.00 24.10
380 Watson... 24.30 24.70 1033 1. Craw
20.30 COTTONS Textile
17,80 0.25 2000 & 9.00 1000 0.00
100 ft
11000
2000 49.50
6000 15.30
15.20 15.40 Nanyang MISCELLANEOUS Vibro ......
11.20
INVESTMENTS ·
Int. Alld JLC & TE
Invest, '...
120 435 845
24
1000 10,10 7000 10.20
P&O's second
interim div: No final
London, Feb. 4.
P. & O. Beclared a second in- terira dividend of eight per cent, les income tax, 1003_ #0- count of the year ended. Bep- tember 30, 1950, 1n Het af » Anal dividend.
SUGAR METALS
Contract No. 4 (world) March: 288; May: 208; July: 3.02; Sept: 300.011 Oct: 3.07: Jan: 3.15; Mar: 316 May: 3.10: Spot-IF.A..
Cubs): 2.00.
Total Low: 233 contracta. Open Interest! 9,003 conimagis Contract No. 6 (domestla) March: 5.50; May: 6.37: July: 8.73: Sept: 6.01; Nov: 32: Spot(14 NY. ex-duty): 6.03.
Total Sales: 399 contracts, Open Inlerert: 2000 contracta UPI,
RUBBER
SINGAPORE
Closing prices all in Straits cents per lb. fo.b. Malayan
2230.7 5.43
It is not proposort to recon- | ports: 3000 34.35 and any further dividend in. 1 Feb. report of 1909 and the total din- Įtribution for the year is thus 11
Exchange rates
Business we thee in the local wool exe
martbert
tri
No. 2 Feb. No. a .
| spot
per cent, unchanged from the Not rubber imbiled previous year.
crepe
BEY-113
∙135/2
In 1958 the company paid
AMSTERDAM Bnal dividend of eight per cent No. De
Net profit for the year ended
Closing prices of in guilders
morning at the following rates:--- September 30, 1959, after all per Miagram, cdf. Feb.:
U.S. dollars (por 3)
Bierling notes (per £1).
Fjúcsosan zuplab (per 100)
6.0 160 charges, including taxation, was No. 1 rubber
13.03 about 9 milion. In 1958, it No. 2 rubber
Australijah, notes (per £3) ...
240 was 20,040,971.
誠徵
China Mail; He, a rubber
Thi Special
3 Stc## (per 100) .......
singaparo (2Ēenisa) 19.
NEW YORK
Closing prices, all in cents per
May
Tin unquoted.
11.47
11.03
11.85
11,55
30.80; Mar: 3120; May: 31.51; July: 31.21.
SAO PAULO
All unquoted.
Average price in UB. at 14 de- signated spot markets; 31.65 cents.
Total sales: 30,047 bales.
LIVERPOOL
Closing prices all in pence per 1b.:
American Contract March/April: 21.00; May/June: 22.40; July/Aug: 21.05; Oct/Nov: 24.36-37 31.00; Doc./Jan: 21. *0.70
Mixed Contract March/April: 22,20: 22.70 July/Aug: 2700 21.00: Dec/Jan: 21.50
LONDON osing prices, all in sterling
per long ton.
Tin spot
3-month
Copper spot
3-month
Lent la hall Fel
Zine fat hot?
Buyers Seller
25
403
7061
700
203
210
-UPL
COTTON
NEW YORK Closing prices all in cents per
May/June: Oct/Nov!
UPI.
PORDIGA EXCHANGE
NEW YORK Closing rates: Canada England omelad 30-day DO-toy
New Zealand South AfricD ....
Others unelmangat.
LANDON -11:
Closing rates; Spot: 23.15 nom; March: 31: New York Mayi #kz3; July: 32,11; Oct: 30.75; Montreal 120: 30.00 Mart 3138; May: 3149; Brussels
CopenhageZA July: 21.15.
Frankru
8.21 barverS
buyers
Buyers b
Paris
Milan
Zurich
Ceylon during the past two years, China has found a mor- ket in Ceylon for a number of household goods, texilies and tinned food: Chian Mail Special.
U.S. steel situation
improves
Chicago, Feb. 4.
The threat of competition from cheaper foreign steel Is over, a steel executive said here today.
Mr Howard It. Conant, Pre- sident of the Interstate Steel Co. based his prediction on steel in strong demand for Europe, higher prices overseas and cartier casing of the steel shortage here, than had been expected in the wake of the long strike."
FOREIGN STEEL
Mr Conant said that inroads made by foreign steel Into the 1.03 3/32 domestlé market were based almost entirely on shortages caused by the strike.
3.8030
3.8020
2.1030
20070
21.0012-1.0936 500 11/10 EN 19(14 130,70-180 19.5433-19.30
NEW ORLEANS Closing prices all in cents per Stockholms
pat: 21.00; March 53.10; May! Others umelanger,
UPL
Fornigh steel imports last year were up 200 per cent frùm 1000 But Conant said "only a irleklo of now steel orders for Imports are being instiod now." "Prieda of steel in Europe and Japan are higher than they were a year ago, white our own |prices hävs become stabilised, al Yeart for the prezent, until teims of the new wage agreementə gə into effect," KS?Ta