1957-01-11 — Page 9

THE CHINA MAIL, FRIDAY, JANUARY 11, 1957.

TRADE and COMMERCE SECTION

Pige

PRICES EASE IN DULL MARKET WALL STREET London Stocks

Eden's Resignation

Causes Hesitancy

BANKS UP $40

By A SPECIAL CORRESPONDENT

-100

STOCKS UP IN

ALL SECTIONS

Gain With Macmillan

new

London, Jan. 10. New York, Jan. 10.

Stocks climbed on the. the market announcement of a Stocks rose in all sections us responded to a number öf favourable news items— Prime Minister with topped by President Eisenhower's State of the strength noted primarily

in oila. Union Message and appointment of Harold Mac- millan as British Prime Minister,

★ The Share Market

At A Glance ★

Up

Deo &

Deo 13

Deć zo

BK Bank

J

1500

1590

1590.

Jan 3 1630

Jan 10

down

1070

+$40

Lombard

401

- 40n

39

89n

steady

Union

905m

950

9551

050

900

Wheelock

*

0.00

7.10

7,30,

7.05

+$10 250

IK Whorf

$10

81m

91m

92b

92b

steady

HK Docks

45

45

4734

Авь

481

+250

Provident

13.70

13,80

13.00

13.70

13.60

HK Hotels

15

14.80

14.80b

15.10

14.90

-200

HK Lands

02

01

61b

02

0114

IIX Realty

1.375

1.375m

1.375

1.375m

1.40s

IK Trams

23.50

23.10

23.20

23.70

23.40

-500 steady -300

1410

140%

140n

14in

1428

steady

tos

103

103

102

24xd

23.60

23.60

29.30

--400

Electrio

32

Market hesitant nows of Eden's re- signation and prlega drifted fractionally lower. T/O: $700.- 000,

turned

HK Telephone

25.00

3136 24.70

---750

→ 24,40

30c

the

4.1. Cenient

38

39

38418

Dairy Farm

15.30

- 15.10

16.20

15.30

15.20

-100

A. Watson

13. 0

13.00n

13.10b

13.30b

13.40b

+100

Yangisze

5.83

0.200

5,90n

5.90b

En

+100

Rails had ndvance

Allied

1.05n

4.93m

4.90%

4.80

-100

HK & FE Inv

2011

109

9.300

1,600

0,10

+-200

ran to around

Textile Corp

4.40

4:40:1

4.40m

4.256

4,50%

steady

Nanyang

7.30m

7.35b

7.100x1

7

7.05

+00

point to 157.07 and the utilities

14 point to 69,56.

The rise

In dull conditions, largely caused by the onset of Chinese New Year, share prices on the Hong- kong Stock Exchange drifted downwards this week.

Turnover is up a little on the Yesterday:

million week from $2.01

to

$2.73 million.

The tally is seven higher, 12 lower and live steady against;

14 higher, five stendy and dvě | lower last week.

An

Eden's Resignation

interesting point thin

Wednesday: Quiet T/O; $600,-

000.

Tuesday:

week is that the resignation of the Prime Minister produced selling pressure,

Inooi! ... Mon-lay:

hardly

uny

though a hesitant

veloped.

Turnover yesterday morning | was $120,000 and the totid for the day only $700,000.

Brokers feel that any de- claive reaction will be shown in the movement of dollars against sterling overseas and so far this has been very sight.

The Prime Minister's resigna- tion loca not seem to involve any Government cells, though this may well occur Inter in the year.

However this ist of small concern to the Holling share market at the moment.

Chinese New Year

In

with New

the

the

share

Friday:

Dull and featureless with Crnctional

Jossey, T/O: 5430,- 000.

Quiet with prices. fractionally lower T/O: 405,000,

Quiet condition T/O: $317,000,

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

to

this []>-

mounted

$744,000. Noon and the morning's

Business done on the Hot meantime market business is conteneling kong Slock Exchange

of Chinese morning onsut Year, Early February proximately may see a slight revival with quotationa Interim dividend announcement.

Ironsactions; Before commenting

Shares Ruyers Bellers number of individual shares, here is an authoritative necount BANKS of the week's trading supplied by an Ice House Street observer;

on

"The more cheerful outlook ¦ which opened the New Year short- no apparent

was, unfortunately,

lived and for

renson, beyond possibly The

HK Bank INSURANCÊS Upton

Bales

1606

33 5 1600

005

SHIPPING Wheelock

(0)

INI

DOCKS, ETC.

Whurr.

7.03 720 1000

Jou 0.63

12

7.05

Dock

PROV

13.00

HK Hotel

.14.00 15 1300

15

01

300 01

Really

13316 1.376 10,000

435

1,00

1.50 600 1.70

approach sif Chinese New | LAND, ETC. Year.

"The Stock Market reverted to a duli state with pries Inclined to drift fractionally lower except for Hongkong Banks and Unions which both advanced under fresh enquiry.

"Most other scetions have been. qulet although Dairy Farms Electrics and 11K Lands were moderately active earlier in the week,

"Losses have mainly been small and the hesitant

news of

rt- 11

action to the resignation of the Frime Minister, Sir Anthony Eden, on the closing day of the period under review, 11}}- doubtedly subdued the ket further,

mar

"Business has consequently been on a light scale with the overall turnover only amount- ting to $2,732,000.”

Banks Gain $40

Looking breit to inst

notice

1

week's

HS Land

HUMBER

Analg. *Trusi UTILITIES

Star

Ferry Yaumati

Ch Lights

313

24.50m 38148

S

New York Cotton

Futures On

Slight Upgrade

New York, Jan. 10.

Limited hedge selling and a routine trade demand combined today to keep cotton prices on

a slight upgrade.

Mili and exporter, buying braced the nearby markets, with moderate galna proving sufficient

tu

If the May contract to a new seasonal high, and the best level slacé early last October.

At the close the list ruled up 8 to 13 points. The market opened unchanged to up 4 points. New Oricans closed up 9' to 11 points

Firmness as new crop months primarily reflected the lack of

and tuggressive selling

noderate scattered

#

demind,

Beach Sands Yield Iron Ore

New York, Jan. 10, Agreements have been 7.10 Seller cautiousness reflected completed between com- 40 expectations for a higher Januarypanies of four nations to support base, which would gure mine and market iron and

the determination

the Government Interim loan rate other ores from a large de- posit of beach sands in eastern Quebec, Canadu. This was announced here

of

103

23.70 314 24,70%

-260

WORLD

RUBBER

MARKETS

Tex

New York, Jan, 10. The

contract rubber futures contract today closed 25 to 55 points higher with sales of 180 contracts.

January March.

May

July

September

November

Jarnaazy

34.50 34.30-34

33,75

34.34

32.90

3740 32.00

Standart contract closed 25 to 40 points higher with no sales reported.

March

May

July...

September

November

Jamsary

Terminal

market

There were gains ranging around 2 points in numerous groups

with enough of the leading issues up to lift the in- dustrial average 2.30 points 10 408.51.

an even better percentagewise

Al-

Olia Elevators

Owen-lanola Gus

Pacific Gas & Elec. Pan American Airways Paramount Pictures

Parke Davis Ca, Peony J. C. Co. Panni Salt Op. Plalip More

Procter & Gamble Co. Pure C..

Radio Corporation Repubile Steel

though individually their gains Shell Out Co.

a point at the

cutside. The ralls were up .87

came on increased

Saint Reg. Paper Sinclair Oil

Bocny Mobifoli

South Puerto Rico Sugar Southern National Cas Southern Tadiwas (Com.) steep Rock (Torontoer.)

Standard Brande

nctivity with turnover totalllug 2,470,000 shares, 140,000 shares-Standard Oil of Ind.

ahead of Wednesday.

Standard Oil of Cal

Standard oil of NJ. Stokely-Van Camp,

Concensus of the Macmillan appointment was that the move openca the way toward restoring US-Brish relations to the prb Suez harmony, believed to have been strained since Eden's de cision-kept secret from the US

to join France in the Invasion. Gypsum of Egypt.

| Studebaker-Packard Corp.

Texas Co. Swift & Co.

་

Favourable

The market community con- strued the President's message as favourable, including his re commendation · that Congress undertake a "broad national in- quiry" into the entire American financial system,

Individual

Issues responded to news items affecting them. The

sugars continued in demand, reflecting tho current world boom in sugars which has been boosting prices.

Sugar American

Regning, sentiment South Porto Rico and Vertientes

34.25

32.06

33.25

32.80

32.33

31,00

was influenced by the steadier Camaguey all rose a point or London close and the unex-more, the last in the day's most

light volume hedge active turnover.

Sellers

287

1%

to

also paused Chrysler ran up study

of President $60% in the

the motors 05 Its Eisenhower'a message to Con- President said it is aiming for gress and further developments 20 cent of the US auto in Britain's political situation.

this year,

compared Intra-dealer switching was with 10.3 per cent in 1956. another feature. March and May · of a total 1,178 issues traded, contracts were exchanged for 029

werd

lower, 252 higher, physical rubber.

unchanged with 33 at new highs, D at new lows. Factory business in the de-

New York Stock Exchange very market continued small and volume was $4,400,000, but dealers detected evidence of

American Stock Exchange a consumer interest President Eisenhower, in his

at prices the current market volume was 1,000,000 shares. message to Congress, said he will

under 1,470 recommend additional farm at a press conference by Brokers understood some "sub-

Dow-Jones closing averages stantial" 100% 1.70 segislation in his budget message an official of the Acomic by Malayan, Indo-China overnight bids were 23.00 23.64 1400 23.40 next weck, pending that Mining Corporation, Mon-

Saigon sellers. Locally, and Congressional cotreal which holds a mining Spot No. 1 R was quoted t sideration of new legislation,

34% cents. licence for the deposit. sellers veered to the sidelines,

140

W

2340

100 Star Ferry.

142 200 મા 10 Yau!

10% 143 1000 2.4 (0) 23.40 23.50 100 4 2330 2450 42.40 Electric Telephone

31 31 1000 & 3114

(0) 241 24.70 2000 2415 50024.00 20023-40 500, 23.00

(N) 23.60 23.80

INDUSTRIALS Cement...

Hope STORES, ETC.

Dairy Watson COTTONS

for the new crop.

vent

of 241,830 bales

He said the other companies were the Klockner-

and

›

SINGAPORE

were

Producer loan entries for the

The market opened lower in weck ended January 4 totalled | involved

combine DI 125.500

bales compared with Humboldt-Deutz

Germany: Ferguson sympathy with overseas. Selling 120,514 bales impounded for the Dulsberg,

weak holders

well After Wild Company of London and by Same period last year.

absorbed and there was a good allowing for total withdrawals Frank Samuels and Company of

interest for lower sheets. Futures: the net stock the US. collun totalled

The principal agreement is

No. 1 rubber per ib, Feb. with Klockner who will build a $10 million separation and con- No. 2 rubber ner lb. Feb.

No. 3 centrating unit at Natashquan No. 4

of the St

Spot rubber unbaled near the

Blanket crepe Lawrence River, to produce at least a million tons of fron ore The unit concentrate a year. will be completed in 1950.

et 1956 crop 15-20 | 3.079,400 bales.

30 38% 100

200

39.60

305

.13 13.30

ia.10 15.30 3000

13.40

7.10

4.00

Nunyany INVESTMENTS Atual

Singapore

Stock Market

Singapore, Jan. 11. that Bouks Brokers today quoted register were only following stock priers:

This week they are 43 higher The rise of $40 is

market

London

£944.

therefore

The certilleated Block held at 3.037 bales,

Month

Marchi

May July

Oct,

Dec. March

Moy Total

•

Volume Open interest

13,800 200,300 415.000

13.500 7,060

169,400

4,600 143,600

101,300

100 31,000

100 15,400

43,000 1,154,200 bales

NEW YORK

mouth

Klockner will

No. I pale crepe

Mar

were:

30 industrials

20 raile

405.51

18 utilities

ta.co

05 atocks

174.08

19 bonds....

Comm. future price index..

102.09

Comm, spot price index

Moody's "index

Closing Prices

Alle Inc. Acy,

Allied Chemicals Ailled Mills Inc.

Allis Chalmers

American Airline

American Cable & Radio Curp. American Cyanamide Co.

D414-0814 30%-071% 031-0714 0314-0434 8315-0013 30034-10034

40.81 110-113

Am. Mach. & Fdry.

American Motni

United Press.

Buy 750,000 New York Sugar

tons of the yearly output at $7.471⁄2 ton fob Natashqunn. Of this, 207,000 tons a year for

Prices of futures closed today five years will go to the

the

as follows Spot March

14652

14.45

May

HA

Opening

July

34.05

Byndicate Consolidated Tin

ahu Lintang Rubber Co. Ltd. $1.80

81/- 29/34

October

33.39

December Morch

34,35

33.32

May

32

Smelters

NEW ORLEANS

due to Brilh Borneo Petroleum the London

obviously better mtes an Stock Exchange.

Unions are $10 belter, London they are quoted at

£58, the same as last week,

cum.

Ord. Fraser Neave Lid. Ord. ... in Fraser & Neave m

$4.00 prof. Gannon Malaya), Limited 12.05 Hongkong & Shanghdi Banking

LOGO 6/00

Blue Chips would have been down on the week without the hewn of the. Prime Minister's restation, but yesterday after- noona

Jose in Electries and Telephones brought this section Allthily, lower. Trams

Anish the. Week

down 30 cents at 23.40 Lights are down 40 cents to $29.30. Electrics finish 75 cents lower at $31 and Tele- phones are 30 cents lower at $24.40.

In the wharf scelton, HK Wharves are steady on a buyers' quote of $92, Docks Dre fractionally higher at $48 and. Providents are 10 cents lower at $13.00.

MO...

--Elsewhere

Į

there are

Hongkong Tin Ltd.

Corp. Kempas Ltd.

$1.40

July

October

December

March

$3,20

May

$340

$2.10

$1,00

Lunan Itubber Estates Lid. 0,00 Malayan Breweries baraka $2.90 New Berandal Rubber Co. › Ltd. refoling Tin Lid." Raifice Hotel Bgapore Cold Storage South British Insurance Co.

Lut. Biraita Trading

Steamship United Bgineers Ord

Wearne Bros.....

• xei-China Mail Special.

$32.50

$3.00

34,34

34.46

2125

3430

3030

་

* LIVERPOOL

Future closings, in pence per

German Compuny as repayment of 80 per cent of the cost of the while the concentrating unit, remainder of the shipments will

be paid for in cash.

He

SAME PRICE

Market

New York, Jan. 10. World No, 4 sugar futures to day closed unchanged to 25 points higher with sales or 1,224

Amer. & Forga. Power

American smelti

Am. Sugar Ref. American Tel. & American Tob. "D" Anaconda Copper Annour weken. Atlas Cons Haw-LMFA Baltimore & Ohio Bendix Aviation Col Benguet Cons Bethlehem

Stoni

Boeing Airplane Borden (The) Co Burroughs Add Machine Canadian Pacific R. Case (5. 1. Co.

contracts.

Cat. Tractor Domestic No. 6 sugar futures Celance Corp. closed 4 points higher to 2 C. I. T. Financial Corp.

Chrysler Motor ..... points with sales of 513 Con- Climax Molybdenum tracts.

Colgate-Palgollve Co. The rise to seasonal lighs of Commercial Credit

Commonwealth Elec. world the

reflected Consolidated Edison futurés broadscale commission house Continental Oil of Dei. buying #ted aliort covering Crane Co. ******

Crown Zellerbach promised by strength in the raw orc market,

The official said that the balance of the total yearly out- Prices of futures closed today put had been contracted for by as follows:

the other two companies at the Spot

same price. March May

mid that the Iron would be 05 to 70 per ferrous

with magnellte maximian

cent of 3.3 per Litanium oxide, Reserves in the beach Sándo deposit were estimated to be between 15,000 tons with and 18,000 million cach 25 tons producing one toh of iron ore concentrate plus, n large quantity of by-products monite garnet and zirconium.

The official added: "Possibly this Is the cheapest from orp mining prabortion in the world, the of principally because elimination of ore-crushing and the care of transportation." -- China Mail Special.. -

75 lb. were as follows:

$15.70 $9.50

London Foreign

Exchange

gains, and loses requiring Ro State ..

Lorion, Jan. 10.

Old contract

Mar/Apr.

May/June

July/Aug. Oct/Nov. Dec/Jan New contract

Mar/Apr. May/June July/Aug. Oct/Nov

Dec Ján,

Egyptian Harriak

Jan./Feb.

1

20.00-03

20.10

20,31

28.70

20.50

23.40

20.15

25.90

€0.00

SAO PAULO

2.79-0/10-2.70160

Futures closings, in cruzeiros 2.08-11/10-260-13/10 per do were as follows. 10.6592-1035JA 140.333-14027M

Wheelocks which, added 20 cents over the holiday period, Closing rates wer"; lomt 25 cents last week.

New-York small Montreal

Amaierdam

Copenhagen Milan Onl Farkt Binckholm Zurich

QUINS were Prom.

speciál cornment.

Diary Of The Week

Hero is a diary of the week's

eventas

10.ANL-105SY, 1700-170934

005-905%

July

Doc.

43.00

unquoted

Cuban Amer. Sugar Diamond Alkali Dow Chemicala Dupont de Nemours

El Paso National Qas Eria Rallroad

Family Finance Corp.

Ford Motor

General Electric

General Foods

General Motors Gen, Pub, Ual. Glidden Co.

cent

a

Contract No. 4 (world)

Marchi May Jul Sep. March May

pot-(bents per ib, fob Cuba)

0.02 0.00-81

501

4.03

4.80

*8.08

Contract No. 6 (domesite)

Marchi MAY

5.93

...........!

8.00

Spot-(pente per 16, cit NY

ex-duty),

Int'l Burinend Machines Int'l Harvestami

International: Nickel

4,00

Press

Exchange Rates

مدة

Goodrich (B. F.) Co. Goodyear Tire ......... Beyden Newport Corp. Homsluice Mining Co. Ingersoll-Rand

Inland Steci,Co,

International Paper

Int'l Tel & Tai John-Manville Co.

Katana C. Power & Light Kennetost Copper ...

New York Foreign Move ob

Exchange

New York, Jan limt-Closing rates were:

Calleda England afteini

intre song tape to the local nonicial

caftangan, niarks morning, at the, mellowing

In the US the average spotsterium "nolow (per £!) prlog was unavailable. Sales Australian notes (per, 4.1

United Inloesian rupiah : (det 106): unchanged,--Vailed totalled 36,220

14,49-2449|4 12.30-18.2612

Prose.

'Blum tical (pHC 100}

Singapore. (itemi!m}}

po-day

Australia Now Zealand South Africa

10.

1.70/15

futuren

Lockheed Aircraft Loews Incorp

Lone Star Cerhebt Co. Leulaville & Naswville' Lowerintein & Bons. Men Iron Corp. Mangarita Chemical "Montgimisery Ward

Motorois Fre

3.77-27/821onal Cas" from A

Nallon) Dairy Prod,, Nations Lesd

United Press,

National Itevi, korp. New York Central Olla, Machi

Tide Water Ann, Oil, Twenty Century Fox Flim Union Carbide Union Pacine Raitway United Aircraft US, Felt B

US. Line Co. US. Rubber

U.5. Smelting

U.S. Steel.... Warner Bros. Westinghouse Electrie Wont Va. Pulp & Paper

*

News that Charicellor of the Exchequer Harold Macmillan had succeeded Sir Anthony Exich struck a reassuring note In stocks that had been erratle all 18% day.

414

01

Bitish Petroleum, which had opened weak at 131 shillings closed at 138 shillings with buy- ing still going on after hours, Others in the group-including 24 Royal Dutch, Burmah

and

Anglo-Enyban had gains ranging to three shillings

close

Other industrials managed to elther unchanged or a few pence lower.

British

Governments WETO the

24orralle until just before

Iss was

close when they rose by £ dis to £. Among bonds strength,

noted in German and Japanese lens. Dollar bonda ail mixed-United Press. 3011

4011

44

70

40

-United Prem

NAMESAKES

Answers-1 Peace, 2 Shell, 3 Conference, 4 Prizes, 3 Ro search, 6 Sweden, 7 Engineer, 8 Explosives, 9 Laboratory, 10 Science, 11 Literature.

Alfred Nobel (Explosives manufacturer

and donator the Nobel Prizes).

P.OBIE.A

COMPANIES

PENINSULAR & ORIENTAL S.N. Co.

PASSENGER/FREIGHT SERVICE

Outwards

"CHUSAN"

"CANTON"

"CORFU"

"CHCBAN"

Leaves London

Selfed 12th January. Join February

5th Apri

Duo Hongkons 2nd FebrussT

2nd February

both March

Via Southampton, Colombo, Penang & Einfäybio.

Homewards

"UHUSAN”

"CANTON"

"CORFU "CHUSAN”

Leaves Hongkook uni tänden

18th Februscy

26th February

3rd April 12th May.

Via slogapore,

Mh April

12th MAS

12th June à colomba

FREIGHT SERVICE

"SHILLONG"due 11th Jan. due 18th Jan.

"SUNDA" ,"BUİLLONG” joads 21st Jan.

1st Feb.

"BAÏMÁBA” dus 30th Jan Loads 11th Feb. "BUNDA"

"SOUDAN"

que 2nd Mar..

from UK

From U..

for Buoribord, Þ. ÿ- tenham, Havre, Ladun Hairbund. Antwerp

mouth

liben U.R

Rotterdam,

fak Singapore. P. Swet tenham, Havre, London, Antwerp mouth

from UK.

على

Rotterdam,

Orange

All veisels OUTWARDS AND HOMEWARDS WILL PROCEED, BY, TÜR CARE OF GOOD HOTE UNTIL YURTHER NOTICE.

BRITISH INDIA SN. CO., LTD. 1830 - A HUNDRED YEARS OF SERVICE

"SANTHIA" de jeth Jan. saili 15th Jan.

"WARORA” dus sith Jan

Salla 28th Jan.

"BANTHIA" due 4th Feb.

antis Bus Feb.

froth Calcutta, Razzöbli & Straith for Japan

from Japa

101. BLOKADOSE, PARĀDE. Rangoon, Chittagona Calcutta

from Japa

for Bingapore. Penang, Rangoon & Calcutta

P. & O./B. I. JOINT SERVICE ORLANA" due 12th Ja

"ÍTRIA"

“ITÄURÀ”

due 25th Jan. walls 27th J

due 20th Jan.

Sumida sist Jedi.

Prom Bombay & 70rái! jer Japan

from Japan for Singapore, Cochiti, Bombay, Karachi, Baki rah di Kuwait

from Japan

fer Bombay, Karachi & Daurah

EASTERN & AUSTRALIAN s.5. CO., LTD.

P

“ARAFURA” dõe 12th Jan "ARAFURA”·Salla ·gth Feli

from Austral

for Sundh," nabaul, Brisbane, Bydney, Mel- bourne &. Adelaide

+

Al vessia hata udatty to call me any hart on or off the route, the roule à vilitos are duplici to change or amendmmins with or withoui matisë,

For full particulars apply to i MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Now: 27721-4.

Of