THE CHINA MAIL FRIDAY, JUNE 17, 1960.
WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE
MARKET'S RECOVERY BID
Prices improve * The share market
as buyers appear again
The recent weather and the
political unrest
HR Bank Lombard Un'on Wheelock
HK Wharf
Electrics
..
at
June 16
a glance ★
Dividend
& Boan
London market eases after early recovery
London, June 16. Stocks showed recovery in early trading today, from yesterday's setbacks but eased again
toward the close of the session,
reaction was largely due to publication trade figures for May.
of disappointing
Gaverwerf Boots led to hold an early improvizační and closed mainly lower. Foreign. bands were irregular, with Japariese dull following post- parement of the Elsenhowe visit to Tokyo.
Up or
May 19
May 26
June 2
1200
1235
1215
June B 1210n
Down
Yield (%)
1200
-$10
$41
461
4η κα
444xd
429
423
steady
$2
4.8
91b
90b
gob
92b
93
+31
$3.40
3.7
2.10
1.20
7.05
8.90
6.90
steady
230
3.6
256A
244
238#
2321
250
+518
58
3.4
Anpolutrement of at charged bank rate provided the
stimul's and morning
un-
the
IIK Docks
314
115
113
105
169
+54
$10
.9.5
Taikoo Docks
ti
GO
GD
$69
56
-$2
$2.80
3
Provident
21.20
21.60
20.90
20.20
20.10
----100
$1.10
5.4
HK Hotels
40
42
4214
401%
40%
+256
$2.75
HK Lands
00
60
59
5612
5014
steady
$2.40
4.2
11K Realty
1.95
2.075
1.875
1.85
1.85
steady
15c
8.1
HK Trems
12
3214
31
31
31143
steady
$2.05
6.5
current
Star Ferry
1828
1809
1803
172
1724
steady
99
5.2
in Japan are
the
Yanmails
170
174
171
168
169
+$1
$8.50
Ch Light
2214
22.80
2214
21.80
22
+20€
$1.10
28.30
28.70
28.30
27.00
2714
-106
$1.90
HK Telephone
39
3821
374
3714
-256
$1.75
4.0
51
54
52
50
5014
steady
$4
284
29.20
28.40
27.90
271%
-400
$1.35
4.
A. S. Watson
28.209
2811
2014
20.408
2614
$1.50
3.8
AP.
Lane, Crawford.
.41
41
4015
419
384b
-$1.30
$2
4.9
Interest has been lacking in
int Investment
8.80
8.80
8.75
8.703
8.10b
+400
650
7.4
Allied
6.651
0.55$
6.409
6.409
6.159
མས་པt;
18
HIK FE Inv
15.909
15.80%
.15.20
15.30s
14.70
---60¢
90c
5.9
Texille Corp Nanyang
10.70
10.90
10.80
10%
2014
steady
85¢
8
15.60
15.90
15.60
15.908
15:708
---2 De
$1.10
6.0
Consols -C-11/16.
Conversion Looh
315.
20093-
Funding Lou 3
1958/09
481-9/16.
Funding Stock 31. 1998/2004–
£65-11/16.
Funding Loon 4% 16/00
£58-16/1.
Savings 3, 1955/65-£90-7/16. Savings 3, 1900/70-£795.
main factors behind the declines in the local stock market during the past fortnight.
But at the close yesterday:
there appeared to be signs of the rubber section with the the market returning to normal | exception of Rubber Trust and
Amalgamated both of with prices sleadying.
which Over the period under review have been fairly active with
buyers levels.
prices fell a little over five per cent. Trading, during the last two days however have shown a Jair recovery of these losses and
coming in at lower
Market diary
the trend appears to be steady Friday: but uncertain.
At the cluse yesterday most sections remained steady with others showing some gains parti- cularly Kowloon Wharves which were up $18 from the previous week.
Banks appeared to be still weak and declined a further $10 clusing at $3,200. Unions
xc-
mained fairly steady with the addition of a dollar bringing the closing price tu 93.
Both the ferry companies 'showed little movement with of the Star Ferry the weaker two.
Hotels, Lands and Realties re- mained steady with the 'firs! named showing, a slight gain
In other utility stocks China
Lights showed Flight
2
while Eletries eased
gain
а
fraction. Trams remained steady
$314
Telephones which have been declining gradually dropped an- other 25 cents over the week closing at $374,
Walsons and In stores both Dairies appeared to be weaker while lane. Crawfords slipped fractionally.
Textiles and Nanyangs re- ! mained fairy steady.
Monday:
The market con-
tinued weak with
little interest dis- played 011
board* Turnover was approximately $1,985,000.
were ex-
G. I. Cement
Dairy Farm
38
-10%
OVERSEAS WALL STREET CLOSES
COMPANY REPORTS
Bears tremely busy in at depressed markel
The and prices closed at the day's low. Volume of business was approximately
$3,036,000.
Unsettled Tuesday:
condi-
lions persisted at the opening but the appearance of sub- sequent buyers resulted in a strong
Ottawa, June 16.
ned
president of the Government - owned Eldorado Mining Refining Co. said in the annual report issued to. day that 1960 would be a difficult time
for all uranium producers. But with a doubling of world 10 to 12 recovery. The turn- power peeds every over was upproxi-years, the long-term future of mately $3.738,000. the industry was bright if loo great A disruption could be Wednesday: The market con- avoided in the years ahead, ac- inued to improve cording to the president, Mr
fractional W. M. Gilchrist. with
lalg gains
the
Thursday:
half day session. The company, which is the Turnover Amounted sole marketing agency for all to about $2,112,000. uranium output in Canada, re- ported purchases and resales There was marked from other producers last year improvement in th rove to $295,300,000 from $246,- day's prices with all 900,000 the year before. Gross i round enquiries.rom the company's own mining Volume of business operation
$38.4 million transacted against $30.8 million previously, was approximately Chino Mail Special. $3,531,000.
CHANGE OF TELEPHONE NUMBERS
As From June 15th
Our Telephone Numbers
will be:
35441 (10 Lines) CALTEX (ASIA) LIMITED
5th Floor Edinburgh House, Hong Kong.
STAMP-CUTTING PICTURE
8"
HK$ 8.00
11" x 15" x 111⁄2"
25" x 9"
26" x 18"
"> " 15.00
"> 15.00
»», 40.00
CHUNG HWA BOOK CO., LTD.
BRAN
HONG KONG BRANCH
50 QUEEN'S ROAD CENTRAL HONG KONG
CALL 59195
́FOR GENUINE' DRYCLEANING
COLLECTION and DELIVERY
SERVICE
Wes
★ ✰
New York, June 16. New York Central Railroad took steps to challenge and Ohio Chesapeake Railway's bid, to obtain control of Baltimore and Ohio Railroad.
Mr Alfred E. Perlman, Central President, announced its diret. tors would hold a special meet-
on June 24 tu discuss
a
ON A MIXED NOTE
New York, June 16.
Specialties such as boating, electronics and vending issues starred in the stock market today but for most of the others
2%,
the trend was downward.
Thickol 214.
General Telephone For the favoured ones, the Mining
Georgia Pacle Corp. gains ranged from two to five General Instrument 234 and
Getty, Onl dollars a share.
Elsewhere, Standard Oil of New Jerzy Gillette Co.
Goodrich, BF. Co. .... mostly
Fastman Goodgear Tyre & Rubber Losers included gains and losses were
Grace. W.R. & Co. fractions lo a dollar a shaft.
Kodak 34. Dupont 2, Chrysler Gulf oil.... Aircralls, rubbers
and, Eastern
Airlines, U. S. Ingersoll Rand tobaccos were firm while Steel 14 Radio Corporation Int. Business Machine motors, airlines, ralls and drug and International Tele-Int. Harvester
Int. Nickel declined. The palletti
phone 4-AP.
Int. Paper mixed for steels, metals, utilies and oils.
Wal
Closing Prices
it Brokers called consolidation of the big rise of last week.
further market's
Allied Chemical Corp.
Reaction
Volume was 3,540,000 shares compared with 3,630,000 yester day.
Brokers complained over what they called the weak leadershi of the market during the con- solidation period. Others felt the current sideways movement was a natural correction to last week's abnormally fast
vance.
Allis Chalmers .... Alumium Ltd.
Aluminum Company
Amerada Petroleum
American Sugar America Tel & Tel. American Taco Anaoonda Company Armco Steel Armour & Cu. Associated Day Good Atlantic Retang Bendix Avtation Bethlehem Steel ad-Boeing Airplane Borden C. Borg Warner Bridgeport B Hurmtighs Carp.
In the absence of any solid business news, and with the
weekend coming on they looked for more of the same. Postpone ment of President Eisenhower's Japanese trip had little effect on the market, observers said.
Standard Coll products headed the most active list for the third straight day, rising 2% at 243405 valume of 149,300 ing
shares. Universal Match bene- proposed offer to Baltimore and sted from glowing reports on Ohio stockholders.
its test vending machine and He issued the statement spurted another 5 to 78. shortly after Chesapeake and
boat maru pleasure Interstate Ohio applied to the Commerce Commission for per- facturer, NAFI was third most mission to acquire the control active with a leap of 5% to 62% of Baltimore and Ohio through exchange of stock-China
an
Mail Special.
Yesterday's
Closing
A
Other active gainers included Collins Radio 2%, Minnescia
COMMODITY
Contract No. 6- (domestic)
RUBBER
Nov.
July
5.31-92 4.02-33 Sept
6.05 Tolal Sales, 355 Contracta-AP.
'Rez
NEW YORK'
rubber futures closing prices, all in cents per lb.:
July: 45.40-50; Sept: 413; Nov: 40.005: Jurt: 39.00b) Mur: 33.78b; May: 28.30b: July: 37.80b. AMSTERDAM
Closing prices all in guilders per kilogram, elf. July:
No. 1 rubber
No. 2 rubber
No. 3 rubber
No.
crepe
9.ŠÍ, EDM.
3.471 nom.
1b.:
COTTON
NEW YORK
Closing prices all in cents per
May: 22.25; July: 82.82; Oci: 31.07; Dee: $1.14; Mar: 314: May: 31.35; 3.37 nom. July 31.61; Ort: 31.45; Dee: 31.33. 3.74' nom,
NEW ORLEANS
SUGAR
NEW YORK
UPL
Ib.:
Closing prices all in cents per
Spot: 31.30: July: 177 Oct: 31406; 31.05b; Doc: 31.126; Mar: May: 91.76b; July: 31.69 Ort: 314: Dec: 31,50b; Mar: 32b.
Closing prices all in cents per pet. 15.;,
LIVERPOOL
Closing prices all ini pence
Atherican Contract Dec/Jen: 25: Mar/April: 22.36; 2.56-29 May/June: 22.50. 3.07-08
Contract No. 4 (world),
THE STEAM LAUNDRY CO.
July
Rept. Oel:
$20
MET.
May.
July
Total Suite 500 Coertracta
Ma. 1, Kyoig Wi Street, Kowloon.
Mixed Contrace July/Aug: 21,65; Ort Nov: 22.83: Dec:/in: 2255; Mar/April: 22137
› Maÿ¿Juñó: 22.85,-UPI
int. Tel & Tel
Jones & Laughlin Kaiser Aluminum Kennecott Copper Libby Owens Ford Liggeli & Myers
Lockheed Airc
85% Lorillard, P. Co.
National Biscuit
344 National Cash Register
68% National Dairy Prod.
National Distillers
National Gypsum
National Lead
Gold shares showed improve- ments in spots and time" eased and coppers remained dull —
90
Closing Prices
Gledged Bonds
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Business done at the Hong- Lis kong Stock Exchange mbrating amounted to ap proximately $2,384,000. Noon quotations and the moming's transactions.
Aurres 1901– HK Bank..
British Transport 3, 1978/98- Consols 2%-£$5.
Savings 35, 1965/75-73-1/16,
Tanks
Barclay's Bank "A" Ltd ord-55%
Chartered Bank-51a od. Mongkong-200%.
Lloyd's Bank “A”-606 30h
INSURANCE
Union Insurance Canton-£5-15/10.
Alteraft & Motors
Bk. E. Asla Lombard Ins. Union Ins..
Wharf Co
Waterbtical Wheelock
Buyers Sellers Bies 1305 1210 201200
201203
10 1206
81310 21210 141203
206
03
700 9215
300 41832
242 250
509 # 250
•
4.85 6.90 10000 63
HR Dock
109 131 2800 112
100 G 111
200 110
Provident .-20.00 20.70
025 #4 2015
Britial Motor Corp. Ord-189 41sd. HK Hotel ..
d.
Ford Motor Co-1128
Bowker Siddeley Group Ord---305.
Rolls Royce Ltd Ord-478 3d. Rootes Ltd "A”—120.4140, Standard Triumph International— 108 0d.
Breweries
Distillers Co-St® 41⁄41⁄2.
1300 20.00
203760
41 4111⁄2 1000 415
500 41%
500 413
ilk Land..
57 5712
400 +1 57
128 0 ST
000
57%
1200
200 or 381⁄2
000 F
500 3
300
100
75% | 4160.
200 TO 573%
Cosi, Bheel and Engineering Babcock & Wilcox Lid-380 Ed. United Steel-800 6d.
Yalmati
100 171
100
HK Tram
Vickers Ltd 34 4.
South African Breweries-239 9t Building and Materials Associated
Portland Cement--888
Goodies Wall & Lead Ord--508.
100 011,
40%
200 / 170
31 311% 1000 @ 3114
300 f
930 62
WE $2,40
Food and Tobacco
British American Tob. Co., Ltd-
Imperial Tobaces Co., Ltd-60s. Miscellaneous
Boardman Marden Lids Bd. British Oxygen Ltd. Ord-95, 38,
Canadian Pacife Al3-456.
Ch. Light
HK Ec. 27.80 23.80
De La Rue Co. Ltd. Ord-715 d. HK Tel....
Unilever Ltd-1609.
Paper
Bowaler Paper Corp Ord-1s ed. Dairy Farm 27,70
Radio and Electrical
8898 8 8
300 7.30
5.70 1000 a 15:40
440 56
500 a 58 200 2014
... 1.875 1.00 45000 1.00
58000
13.79 13.50 1920
2000 13.80
$55
Dunlop Rubber Co-27.
3742 3834 1500
29
Gihman Holding Lid-2 1ď.
500
312
Lone Star Cement
Hongkong & China Gas-18 od n
1508
Imperial Chemical--60 415.
5014
Martin C.
Lyons & Co-75$ 10d.
at Cement B1%
$2
American Airlines
19
Merck & Company
American Can ........
36
Metro Galdwyn Mayer
28
American Cyanamid
Americas melt & Rafin.
Minneapolis Honeywell
53%
Minnesota Mining & Mig.
8519
2871
Monsanto Chetriscal
Associated Electrical-56%” Üd
29
Montgomery Ward
Electrical & Musical-48s ed.
49
Béa Moore McCormack Lines
Motorola Inc.
112
English Electric Co-39 34.
Ceneral Electri-388.
€3
Shipping
12
P&G Steam Navigation del ord-Textile 40% 20.
Indo-China Steam Nav. Co. def Watsbel.... ord-23 3d.
Allied Inv
67.
45
203
New York Central-
483
Northwest Airlines
18
Stores Great Universal Stores "A" 1150.
RAHJAK Rubber
8.25
Teikoo
38
Ohio OffAR
3132
30%
in Mathieson Chem.
Marks & Spencer Lid-74% 7158. Woolworth F. W & Co-659 179.
33
Pacific Gas & Elec......
Textile
Pan Am World AtrwayE
letz
Z
12
Paramount Pictares
Coats J & F 1184 Gd. Courtaulds L
Realty
HK CAS
Pennsylvania R.R.
1322
MiDes
25
Pepal Co
1912
Cans Goldfields of South Africa-
700 @ 13.80
32
47.
Pfizer, Charles
34%
575 6d.
412
Phelps Dodge
475)
Cons. Zine Corp. Ord-772
59
Phillp Morris
De Beers det-1395 4d,
PR & F.E.
Inv,
14.00 16.20
500 € 14.80
36
Phillips Peltol
4212
Hongkong TD-127 45d.
160 14.70
200 14.80
Pure Du
283
Petaling Tin—s.
300 @ 14.80
61
64
Quaker Oals
47%
Rand-70s.
44%
Radio Corporation
75
50%
Raytheon Company
4214
Union Cornfər 411⁄2d.
48
Republie Steel
834
West Driefontein, Goldmining-758.
(Afthis) Yest !!!mitt
8.20
2.10
45
Reynolds Metals
011
5915
Humphreys 23.70 Lane, Ciw
.I
177
Reynolds Tobacco
097
2
Royal Dutch Petrol
37%
St. Regis Paper
Sears Roebuck
581
Brit Bunnah Petroleum-13 9, British Petroleum Co., Ltd-323
92
3d.
Shell Ou
DuPont de Nemours
200%
Eastern Air Lines
Shell Transport
187
Eastman Kodak
124
Sinclair Of ...
Ford Motor Co.
Food Machinery & Chem
Soccny Mobil Oil
38%
53
71
South Am Gold
Plat
General Dynamles
South California Edlan
General Electric
93
Southern, Company
20
Sperty Rand
44 Standard Brands
Canadian Pacie Rwy. Case, 31. Co.... Cekme Comp. Am. Cerro de Pasco Chrysler Corp.
Cities Service Coca Cola Company Colgate Palaolive Commonwealth Edisi Consolidated Edison Continental Ol Corn Products Co. Crane Compony Crown Zellerbach Curtis Wright.... Distill Corp-Seagrams Douglas Aircraft
Dow Chemical
General Mills ceneral Motors
PRICES
METALS
NEW YORK
Stand Oil California
Stand Oil Indiana
Stand Oil New Jersey Stand Oil Onio Sterling Drug Studebaker Fackard Texaco Inc. ............ Thampstin Rand W. Tidewater all..... Twenty Century Fox Trans World, Attines Union Carbide Union Oil California Union Pacific
United Afferált Corp. United Air Lanes United Fruit
7.S. Indusities
U.S. Lifes
U.S. Rubbi US. Smelt & Refin US. Steel Warner Bros Pictures Western Union, Tel Westinghouse Electric Yale Tuwne Youngstown Sheet &
Closing prices, all in cents per Zenith, Radio
Ib.
Lead
July
11.30b
Sept:
11.400
Zule
July
11.30
Sept.
.11.45
Copper July
JLes
Sept,
21.03-.04
Titi trading suspended --UPI,
FOREIGN EXCHANGE
Rex
Rubber market
60P%
Southern Kinta Cons Ltd-288 34.
British Borneo Petroleum Syndi cates 10%.
Bumah 431 d.
Royal Dutch Peltoleum-£134, Shell Transport & Trading-1449.
-Reuter.
HONGKONG
TOO
COMPETITIVE
Washington, June 16.
A clothing union spokesman asked Congress today to study
trade foreign policies in the light of the special problems posed for small businesses by increasing imports.
Macao
45
Agreed merchant rates
U.S. Dollars Maximum selling 17 13/33; Minimumi buying 17 21/22 T/T, 17 25/32. 0/D, 17 29/32 30 days, 17% 80 days, 131/32 90 days,
Exchange rates
Budness was done in the loon! uricflicts
market thi exchange therning at the following rates: US dollar, (per: $1)
13
Stefling notes (per £)
10.00
Australian noles (per #1) ...
12.80
Indonesian rupish, (per 100) ...
.2.20
Siam Ucels per 100) Singapore, Straits)
25.90
1.80
U.S. INVESTMENT
QUOTATIONS
The following are American
BIOTE
Mr Harry Frumerman, Te-
the investments in U.S. dollars, search associate for Amalgamated Clothing Walkers Buyers prices include commis- of America, testified before a serate small business subcom- | Ahtitatée Fund
đen BỬU KH alttce.
Aldo, Day, Mut Frumerman told the Axe Hought H
Mr tommittee
that
competition Bullock Fund
Canadian. Ft
from abroad "threatens disaster Canada den Fund.. to American apparel manu-Canadian it droseth facturers.
Chemical Fund Comwith Stock. New York, June 18. "No matter how efficient," he Dividend Sh rabber
fulares
Loday said, "they cannot long survive Diarta Tund blaked 20 to 40 pointa Lawer against wage levels of 12 and Eaton & H. Stock with sales of 50 contrasła; 14 cents an hour," which he Elettfordes thy
Found Mut Fand After a fighter start, liquida-sald were prevalent in Hong-Hamil 74 HC-7
Instit Found tion in July disclosed a thin kong and Japan,
Xaist Growth 276-13/10-15/10 situation in the spot month Mr Frumerman
also said wilt Income
LONDON
Closing rates:
New York Montreal Ainsterdárn Brussels Copenhagen Liston
0410 Paris,
18.45
Bellers Kurėra
1.37
7.38
4.19
4.41
5.38
8.48 9.22
12.73 13.55
1994 13.09
13.17 17.30-
170 1969
11.88 12.88
1430 17.3
3.28
15.14
12.00 7.70 11.00-11.50 .$.10 6.57 10.04. 11.33 1135-19.31.
18.91
21.3123
18.49 1-2148
States UPL
---UPL
Selling was associate with low-wage countries, they are Na Bee Berrowth 9:15 Studder 81. & CLAM 18.77 the refusal of factories and planning an assault on the ap- 240v Hi. Find..
United Vilt. Lib¥ Tajid' other consumers to meet the barel markets of the higher prices UPL
Wallington Fund.
IA
T
16.77
2.80-2/10-3/18
16.5811-10.56%
139.721-129.77
19.313-19.334
80.20-10.30 20.00-20.00% 13.781-13.731 12.00-12.067 1723034-178032 18.7078.78
which dropped almost a cent that although the flood of vest Ti Borton Keystone Cust B a pound from the high to imports was now coming from Keystone Canada *** 25.49 14.50 clox on The day's lowest Hongkong and Japan, Taiwan, ya JY Tr level
Okinawa and Spain, among Growth