$44 MILLION MARKET LOSS New York Cotton
Share Prices Fall 5 pc
MIDDLE EAST CRISIS NEWS
DAMPENS INTEREST
By A STAFF CORRESPONDENT
Anglo-French bombing of Egypt caused a sharp fall on the Hongkong Stock Exchange this week, cutting prices by up to five per cent and lopping about $44 million from the listed value of 29 major shares.
SIKK Docka
Hatcis
UK Lands Humphreys UK Realty
HK Trams
· ·
13.80
18.30
Futures Irregular
New York, Nov. 1. Cotton futures today retreated irregularly after a steady opening with trading moving at a slower pace.
off 2 points. New Orleans closed
NEW YORK
March
May July October
London Foreign Exchange
London, Nov. 1.
Closing rai were;"
Montreal
Brussels Copenhagen Frankfurt
Mit
★ The Share Market At A Glance ★
Up or
Oct 4
NK Banks
1830
Oct 11 1040
Ost 18
Oct 23
Nov 1
down
1040.
1030
10208
~~$10
Lombard
44%
4214b
43
42
-9144
!!no!
1005
1000
1405m
1000
080
-$20
Underwriters
8.80л
Bulon Wboat
23.80m
8.80n 23.700
8.900
8.80
8.801
stendy
Closing prices ruled
to 24 points,
23,00
23.60
23.50n
siendly
Whoclocks
9.20
8.05
HK Wharf
93466
05
7.15mea 05
7.05
The market opened up 5
10
0,55
-500
05
90
-85
4344
454
4534
4514
431
-8134
of 1 to 10 points.
I'rovident NIK
13.00
13.90
13.90
13.90
18.30m
13.40b
15.40
steady
15.10
14.40m
-700
Prices of futures closed today
6324
6414
04
04
01
-$234
Es follows:
New York
1954
wa
1,45b
1.001
19.70m
1.4256
19.80%
steady
Spot
74450
December
33 +44
1.420n
1.35mxd
-3490
Alsterduist
23.10
82.70
33.60
23,50
231
Slar Forry
142b
143
143m
141b
142m
Yaumalbe
112
119
Ch Lights (0)
24.70
24.90
100
$4.90
107
102mm
24.90
33.20
---500 steady 35 --$1.20
3412
33.73
1300.00
December
13.04
March
2400° 316 24.80 18
24.20
24:20b
20.29
23
-$1.20
12
31
3012
$135
25
25.10
25.10
23.00
$1.20
783
3851
384
3634
$14
as follows:
18.50
15.50
15.10
14.30
-800
Spul
13.00m
13,80m
12:00
-$1.20
December
Lane Crawford
20.40n
20.400
20.401
29.40n
20,40
sicady
March
Thee i
$.80m
0.7511
0.05xd
6.05n
6.0511
slady
Anked
3.05
b
4.950
4.975D
50
sicady
October
4
Aden
T
Coloniest straps Cala Bjer pre vtears lot above shot tin wan
Hongkong" from
IK & FE Inv
10.40n
10.40n
10400
10.50
10.40n
steady
December
March
Textile Corp
4.50b
4.401
4.35m
4.3MM
4.13
--200
Nanyang
7.50b
7.50
7.05
7.60%
7.50n
steady
+
co-cum call.
Tus all... 35, 95 milion
1
On September 28, 1 reported in this column that up to that time the Suez crisis had decreased the market value of the same shares by a total of about $45.7 million.
meeting
been
on at the proto tuon og 6.5 million The dipany's Man the age!
Match
This means then, that in 4830 Wheelck Marden & Co Ltd Churrana". The 1 week the market registeret ha-E 11 arketzal almost as big a les in It ex} Wedovrsey. pertenced in 24 period of SEX PIENION IS thaal Bur balance trattat ste weeks.
sheet Was a good one
The
general
This reaction should not sur- brokers spoke tar vestorriay prise anyour who anderslanstrad ne they were very pleased the vital importance of Die Suez with f Canut to this Colony.
יידי
ceect shipping route bes tween Hongkonur and the Umiles) Kingdom, through which cane siderably Incre than $1,000 millions of car trade pasar, is via the Suez Canal.
The Cape Route
# for any preon a kesome (busable to Britisk je here, for expe
1rཤྩ 1སྭÎ*F1Lཎྷvs} Jaudall
1.2
on the
will have to gir ba
Cape route,
The a
In terms of Fune, That mean work Jonge
At t
ferme of dollars, bigben freight Custa which
art.
1
to
course, eventually passed at:
Consumer.
Of the total value et on r porta. The than one-tenth comes levan the United Rügem and about another tenth 1 European countries Jike tier- many. Switzerland, the Nettis lands and Italy.
And of
Qu *****
to the
one-tenth goes
Kingdom.
All pa
Canal.
through
So if Snez gom out t Emision
kemporarily.
even
could
disruptive be economy of this Colony.
Pot win $7,000,481 short of this entuinn's $8 million estimade a minth ago doubly the 1985 fleure
Croolilatend 134 ◄ that Japanese La
Trom
well
19
$37,672,038 $22,538,115, and according to the
TODAY'S SHARE PRICES
(From Our Correspondent)
B
Well-Received
י יויויי נ' 1.
..
יי
小 The Ne
atacent base fo
ין
ELA
1
4
M
Fa
Noth
སཱིསཱངྒཱw』 །, ཚཱ ཨཏྠེསུ
*
ין
and drag Hh
the
which!
C Lights (n)
I beririn
JK Telephone
til. Cement
Dairy Farm 4.8. Watson
Yunglaze
WORLD
RUBBER
MARKETS
15.50xd
14.20
10
New York, Nov 1 sell pleaumet Th No I Bes rubber tuʼuro. Frontrart tostay closed ah posuts $38 71 lower with sales of 27 contracts
harp w worth
JARS
i
14.10
Wall
Street More
Than Recovers
Sharp Losses
New York, Nov. 1. Stocks today more than recovered yesterday's about $750 $1 las paints tower with sales of 186 sharp losses in their best daily gain since May 29.
equavision) The rex contract closed 20 to
market valur Front riets, T. 16
When Tow 137 jamitatur, Shanghai Lawn
and
10 Hur Hengerement Chi Le ind Vangtze Stock Exchings mus, manej Co Ltd held thann ment
Shange as Leat
21 122 12ørmanted to approst- tings matris 3520,000
www.
Non
1345
J40)
イ
lifted
40
Slatulard content closed 20 to
3
Noon quola en chans at ovideral of 10 vends, 55 prants lewen with to at the morning's trans- slurs anak annoon el a profit 17wo confFacts. Ssebons;
1 presets Amat
prode wa
ik«
MAI
Vin
303 120
Sept
Now
JA
about Unterl
.1
Isuey
AK SORT ARE CUR), „bout $84,000
m tha
1 the
Sturres
BANKS BA Book
INRUHANCES
#uyers Sellers
Sales
year
Yanet z
Valits
SHIPPING Whe
Ja
1995
240
FL
Sharper Downturn
It would be wrong to suRRESE that the share market eveline
began this week, It has beeTi losing for the last three weeks, but the decline has been gradual.
This week the downturn ac celerated with the swiftly teriorating situation Fla the Made East
Two shock
ht title
first, the Israel drive dosen
the Stu Peonenda almed.
In a brank of Suez
then the Bellish ultraloon
IXX KS, E
λ
Wizart
ka
h
1
LAND
17
JİK
1 2
Jolly
I'
Di
3'
****
TIME
to Ti vorridat ini, poklonged | Youn
by the bentang of by phone
Frant. When Colonel Naves pregled uretors resp
Earlier n the week lank incentives W...
Instor
the depresi
On Tuesday, with
istek ve Bearze
المادة
, and thus company declared (per erut divider
Atulgamateel Hastalar
i,
-
dividend de wire was Bee pends up on last testribution This pleased endler.hly 14 dunen elone 1 on 244 cents on
Pisarisigically
The recovery, although necom- | Daw Chemicals
Dupont de Nemourn plished on reduced turnover,Ensumen Kudak
many individual stock El Pane National Bus
Erte Halfrondi points or more and took In
Family Finance Corp. sales of virtually all groups, with oils,
Ford Motor steels. metals, shipbuilders leading.
34 50
23 30
14.09
32.13
The improved sentiment was attributed largely to President Eisenhower's
in
the
last night that there will be no US The fendnal market moved involvement
Mideast irregularly in moderately active fighting. Many market operators dealings Eisenhower's promige viewed reduced price levels as
of es involvement in the Middle attmctive Kir Home bargains some hunting, particularly in light of
Ku meent
Conflict
Mary's
HSSUTEN
A the possibility of a post election. kysterical buyers. holiday at Singapore also neted advance on on Elgenhower vie to quiet market activity The
the 1,120 lastics tradedi Today, 802 were higher, only 153 lower. Industrials climbed 1.77 points
tay you mal war. Langtly on counted
Hadron up the
Mave weeks.
the erased In the shipment murkel, some
"falr-sized"
quantities were Last i reparted worked on indonesian cables Reported sales included Nyorher one sheets at 34 conly. threes of 33 cents, Tour, at 325% cents a pound, all cast and i fight
Rubber Dividend
1.5th my te d The
cmingileet a wont Has work.
July 20
he
Whats
would be extra 200 Ty
To wake any future pane
Mecum di
Telephone
200
21
201
2007 23
2 hursday:
500
1300 221 th
(N) 2210
20
30022 10
DÃO 1 2 Do
2011 2 22 30
10
| Meest the the downturn On STRAN promatred. Wednesday, with the ultimatum there was concern atud buyers virtualty disappeared. Yester- lay the market sagged in the morning en o sinall turnover on news of the bombing, and then staged a recovery in the after- furt- bigger
boon on a much
Cister
Demand For T/T
Total business for the day was
VILA
diary of the week; Prices mutkedetown
early the 11g bul partial covery at the che T/O. $1,140,000.
Läti 3 Wednesday: Operators reluctan
LONDON
The market
wa stendly with set quoted 131 pence per
Prices:
יויו
1 H mestst Sofiemers house
ferm
Jen/Mar
Apt June
July/Sept.
Cre/Dee
General markets, cit
Electric
General
General Foods
General Motors
Gen. Pub, tú,
Getty oll
Goodrich (B. P.) Co.
Goodyear Туга
Heyden Chemical
Cu.
Homstake Mining
Inland Steel Co.
Int'l Business Mactunesx
larvester
fnternational Nickel
international Paper
Int'l Tel de Tet Juha-Manville Co. Kenseroit Copper Liggett Mayers Tub Lockheed Aircraft Loews Incorp
Lone Star Cement Co. Louville & Nashville It.
Lowenstem & Sons Mebi fron Corp.
11 their sverage, ails 2.81 and utilities 0.84.
Turnover declinel to 1.890,000 | Mesota Mining share. From 2,280,000 yester. day.
Oils Gain
The guing to oils ranged to 3 points or moLY
Shamrock, 31-31.
Amerada,
Wilcox, Continental 31-31 Oll and to a point or more In 304-30% Cities Service, Standard of New 2011-30
Mimion Developinant Montanto Chemical Co
NEW ORLEANS
חון 1:2.
Oslo
Pablo
Slackboltu
Zurich
.'
2.7814-2,78-8/15/
2,001-2,70%
10.00-10.6014
100.29-120.30 10.32-10.33) 1100994-32,60
17401-1700
10.00-19.0
144035-34 409% €2,100-12.30
Sterling reli mgala today ex-
Prices of futures closed today ept that it was pegged_against
May July
33
3) C
34.00
33,00-75
לון.13
LIVERPOOL
Liverpool, Nov 1
Futures closings. In penes gen
> were as follow
Old entrart Oct/Nov
Dec/Jum
Mar/Apr May/June
July/Aug
| Planer rustraet. Ort /Nov
Dee Ja
Mar/Ap
May/June
July/Aug
Egyptian Kamnak. Nov/Der
SAO PAULO
23 20
the oflar and rose against the Canadion dollar, the
Gennen
¦ wark and the French franc. --
United Pre R
New York Foreign
Exchange
New York. Nov, 1.
Closing Patys were; Unnada
Uruginy
Other
103-1/32
2556
were unchanged Thitest
NAMESAKES
Answers 1 Christmas # Nicholas, 3 Micowber. 4 Bartby. 5 Nickleby, 6 Novela, 7 Estrila, The market was closed to the Drood. Twist, 10 Copper- US the average spot prier was feld, 1 Pielewick, 12 Marley, 19 33.15 cents, Sules totalled 80 679 | Fagin, 14 Sports,
batesUnited Press,
Charles Dickens.
KEYNOTES: NA NAMAZON SPRING JO,
PO B·I E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENCER/FREIGHT SERVICE
Due Hongk
Outwards
Leaves London
“CHUBAN”
"CANTON"
"COKFU"
Bafled
لتوحد
7th Novembar
3rd November
12th November
10th December
Vis Bouthampton, Colombo, Penang & Hingspor4.
Homeward.
"CHUSAN”
Montgomery Ward
"CANTON"
Motorola nr.
National Cash Heg National Day Piod.
A
"CORFU"
National Lead"
National Steel Corp. New York Central Oi Mathieson .. Os Elevators Owen-Brinots Glas
Pacifio Gas & Elec. Pan American Airwaya Paramount Pictures Penny JC, Co. Penn. Sal Co.
Procter & Gamble Co. Pittsburgh Plate Glina
2014-204 JETRY, Texas Co., Richacia unquoted Shell, which face increased de- basis, ports: mand for their products should
30-3012 30-3013 the Suez Canal be shut down | Publicker Industrien
Pure Oil.......... 2914-304| for any length of time,
Radio Corporation unquoted
anticipating heavy Repubike Steel Shipbuilders thick Nov 309%
-United Frez
dermand for tankers, rose close Reynolds Metal to points in Newport News | Shell Oil Co... Saint Reg. Paper
*
Estate Crepe thi
to extend communi- ments. Market le T/O: $245,000 Further decline in
prices.
$970,000,
T 0:
Market hesitant and
INDUSTRIALS Ceraen! Ropo
30
13:28 15
1ursday:
Dalry
142# 14%
Watson
1200
Monday:
있다
4.16 1000
4 10 1100
Friday:
}
$399,000.
$1,140,000, with about three COTTONS
lakhs in the morning and eight Textiles
Jaklis in the afternoon,
The reason for the
brighter
atmosphere in the afternoon was
parlly that prices had come
down
Nanyang.
INVESTMENTS
Allied......
4 01 0.00
a good deal during the 9**************:
week to fairly attractive levels, anst American T/T. which
fluctuated between $8.27 and a
high of $6.30 during the
began to slacken.
day,
Speculators had a grand spree
on the Gold market In the
morning as the T/T rate and
rose.
prices edge lower. T/O: $700,000.
Sprinkling of small 7 0:
losses.
How The Suez Canal
Crisis Has Affected
the old price the A Loth The Stock Exchange
rates
began to fall they chased
back to the Stock Exchange in
the afternoon to cash in on the low prices and high yields.
Turnover for the week was $3.65 million which compared with $2.80 million the previous week.
Tally was 19 down, ten steady. none up. Last week the tally was 15 steady, 11 down and three higher, and the week be fore 14 steady, nine lower and Blx higher.
Thus the grachial decline enn be seen weeks.
over
the
Inst
IIK Bank
Lombard Union
Underwriters
Union W'boal
Wheelocks
HRTM Whart
HK Dock
Provident HK Hotels →HIK Lands
Haraphreys
three Realty
HK Tr
Up or down
London Market Awaiting Developments
on
Shipbuilding, more than 2 in Sinclair Gi
Bath Iron Works,
necott, Copper, Aluminium and Alcoa,
Steels ran up as much as 3
Socony Mobiloil
Metal shares had gains rang-South Puerto Rico Sugar ing around 3 to 4 points in Ken-Southern National Gas South Railway (Com.) American Metal, Magma Steep Rock Toroninex.)
Standard Brands Standard Off of Cal. Standard Oil of Ind Standard On of N.J. Sterling Drug Co. Stokely-Van Camp Studebaker-Packard Corp. Swift & Co. Texas Co
In Lukens.
Aircrafts gains ranged close to 2 points in United and General Dynamics.
Now York Stock Exchange bond volume was $3,400,000.
American Stock Exchange volume was 700,000 shares.
Dow Jones
were:
London, Nov. 1. Trading slowed abruntly the London Stoc! E change today. Vo.ame was the second lowest for any day this year 盘罪 traders nervously awaited 20 rail
in the new developments explosive Mideast.
closing
30 Industrials
3D tles 03 stocka 40 bonds.... Comm. future price Index Com, spot price index In-Moody's Index
A mixed close showod dustrials and oli shares mostly; lower, but some Armness in British Government bonds and doilar stocks.
Governments opened firm, then retreated.
cated. But lato sup- port from bargain hunters man-
10
Tido Water A. Oli Twenty Contury Fox Film | Union Carbida
Union Pacido Railway United Aircraft averages (ÜS. Fall “B” U.S. Gypatin 407,62 U. 6. Line Co. 158.70 U9. Rubber
Closing Prices
Allied Chemicala Allied Mills Inc. Allis Chalmers American Alelino American Cable
Corp.
bring a few gains of American Cyanamide Co
day. tho fluctuated nervously.
1
A. Forgn. Power
AD Bach, & dry.
Aerican Metal-v....
Am. Bugar Raf, an
Royal Dutch Anally yielded American smelling
about C. Declines of shilling or so came In British Petroleum, Canadian Eaglo, and Anglo-Egyptian "B"
July 20 1670xd
Yesterday
1020s
$30
478
42
-$0
095
080
-$15
8.85%
23.00b
8,800 23.500
~50
-100
9.30
6.55x0
--800
age!
134
1
42b
00 433
-$3.00 +$134
about £ on
Oils
14.70 15.80
13.00
60
20.300
1.525
14.40m 0114 10.30%
1.35mxi
24
23xxd
800 -$1.40 *$7.30 $1 -18.30 $2
142
1420
114
102m
steady -312
25
23.70
-$1:30
22.40
23
38
---$1.40 ---$2.21
24.80
303
phreys,
10.10 12.70
23,00
14.30xd -—$2.40 $13.60.000 -100.
-500
East Investment. Also, Blare,
Providents and Nonyenge dit
Laud Crawford Yangtze
G
7.00
not change this week, mert
It is hard to describe any
being in the forefront of tho |--Nanyang
poricular group of shares an Texille Combate
HKPE lov:
11.40:
-decline. All lout about equally.
Wheelock's Figures
It is diMcult to single out any
one share for special mention
this week. The steady shares
★ Star, Ferry
Yaumatis
Ch Lights (0)
Ch Liglits (n)
Electrio
G.I. Comeni
ure the old Immovables. Hic → FIR. Telophons -
Underwriters, Waterboate, Hum
Lane Crawford, Yani- * Daley Farm
tsze, Allied and HK and Far|-|A.B. Watson'
5.409
14.85100)
37.90
20.40-100
$30.0018 VALSİYA
4.15050405
American Tel & Tot American Toh, "1" Anaconda Copper Armour Allan Cons, Mining
win»Lama-Harri Faltimore & Onio
slx-Bendix Aviation Corp.
Losses in industrials were mostly fractional. Brillah American Tobacco cased pence. Rolls-Royce was major casualty, off, about two shillings-United Press.
the|Bethlehem, Beel Doong Airplane Darden (The) Co Burroughs Add Machine Comedian Pacific N.
Exchange Rates
Case (3,1).co.
Cat: Tragfor
Celazione Corp, ULT. Financial Corp, Chose Machat. Bank
Bi Bustdcm.waż "done. In the focal Chryder Motors unofficinisAXCHANGE inarkot 3188 Clinux) Hole morning at the following rates: Consumebelet - Credia U.B. dollar; (per: 337RITIES BLAS | Conerotwasilia (Bierling notas:(per÷21)
Apairalian notes - (perXURY,2 | Continental: Indonesian rupishik," (per 100) 37 125 Ideene) Co * Sam sical, (per 100) Asta 1929 eyinen "Arbera
Singapore (Stenita), des
*100 FDjamond?” Allcall
Radio
68.84 US. Bmelting
17725 US. Stoel
0101 Warner Bros.
104,62 Westinghone Electric 100.90) West Vs. Pulp & Paper 411,60 Woolworth
2019%
in
United Press.
New York Sugar Market
New York, Nov. 1. World No. 4 sugar futures to day closed 1 to 4 points lower with sales of 84 contracts.
Domeille. No. 8 sugar futures closed unchanged to I point lower with
zalos of. 20 contracts, Liquidation by Bomo of Wednesday's buyers was coupled with excitement over the Sucz confilet in the wake of President 60% Enhower's promise of no
Involvement.
the
dispute
In
Contract No. 4 (world)
Futures:
Mar.
May
Slapt
Spot-(conta pet. ib.
Sun Cuba).
Mar.
"SUBAT"
"SURAT""
Leaves Jungkook
7th November
15th November
One Londo
3rd
December
1001:
December
14th December 14013 JAPURIT
Via Bingapore, Penang & Colamyba,
FREICHT SERVICE
dar 130) Nov
lade i Dec.
trans
for Singapara, P. Swet- tenham, Havre, London, Hamburg, Hotterdam, Antwerp
Grange-
&
"PINJARRA” due 20th Dec
"SHILLONG"dur Brd Dee.
"SALMARA" due 7th Jan,
"SHILLONG" toads 14th Jan,
U.K.
.11.1 למומ11
from U.K.
from UK.
for Singapore, P. Bwet- tenham, Havre, London, Hamburg. Rotterdam, Antwerp & Grange- mouth.
ALL VESSELS OUTWARDS AND HOMEWARDS
HAVE LIBERTY TO PROCEED VIA SUEZ CANAL, CAFE OF GOOD HOPE OB PANAMA CANAL AT OWNFES OPTION.
BRITISH INDIA S.Ñ. CO., LTD.
1858 — A HUNDRED YEARS OF SERVICE — 1958 "SANTTITA" duo 5th Nov.
"SANTIIIA"
sails 6th Nov,
due 23th Nov. mails 20th Nov.
from Calculia
for Japan
from Japan
J
tor Singapore, Penang. Rangoon & Calcutta
P. & O./B. I. JOINT SERVICE "ISMAILA"
"OZARDA"
In Port
from Bombay, Cochin, Colombo de Bingapore salis 2nd Nav, for Japan
in Port saila 2nd Nov,
from Japan & Shanghai for S'pore, PL, Swatteri- ham, Penang & Madras
EASTERN & AUSTRALIAN S.S. CO., LTD, "NELLORE" valls 12th Nov. for Sandakan, Rabaul
Brisbane, Sydney, Mel bourne Ea Adelaide
"NANKIN" all th Deci
for Sandakan," - Rabaul, Hrisbane, Bydney, Mci« “bourne &t Adalaido
All verið hava ilberty, to call at any parts on or off the route &, the route & walling, are subjert" Lo change, or amendment with ar withoni' notler,
For full particulars apply tu: MACKINNON. MACKENZIE & CO.
OF HONG KONG LTD. Tolephone Nos: 27721 4.
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