1957-02-08 — Page 9

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THE CHINA MAIL, FRIDAY, FEBRUARY 8, 1957.

TRADE and COMMERCE SECTION

SHARES TACK ON GAINS

Slack Conditions Over New Year

HK WHARVES

DEMAND

By A SPECIAL CORRESPONDENT

★ The Share Market

NK Bank Lombard

TIK Holtis

HK Lands

23.70 141n

23.40 1425

At A Glance ★

WORLD BANK Old Cotton Months RATES Reflect Firmness

London, Feb. 7,

The British bank rato was lowered today from B3⁄41⁄2 per cent to 5 per cent. The following table, shows the rates in other countries: PER CENT

New York, Feb. 7.

Quiet dealings in cotton futures today again reflected firmness in old crop months.

1,000 31.500

2,209 76,200

02,400 1,0:1,700 bales

NEW YORK

Prices of futures closed today

Up or

Jan 3 1030

Jan 10

1070

394

391⁄4h

Union

250

900

Jan 17 1640

37141 96734

Jan 24 1015

Feb 7

down

10000

-$15

37149

38m

steady

03734n

95214

---$5

Austria

Wheelock

7.30

7.05

7.20

6.75xd

4.70

steady

HK Wharf

926

82b

93b

0714

+34

Belgium

Gains up to around $1 n baie May lifted nearby March to seasonal highs, carrying it to the 33

July

Total

Canada

2.05

HK Ducka

4Bb

4814

€13

45xb

cent line,

+250

Denmark

Provident

13.70

13,60

13.30b

13.20

13.40m

++800

614

15.10

14.00

14.000

10.20

+200

Finland

คน

Proft-taking and

France

01%

1.376mm

1.40

በ።

1.326b

-$1

1.3256

1.80b

+7540

Netherlands

hedging ot the close whittled extreme gains but the list still closed net

as follows;

23.40

143

23.20 143

28.50

+-30c

India

1468

Italy

102

Norway

103

104

+$1

23.20

23.30

23.10

200

3114

314

+25

Portugal

2 to 22 points higher, Opening | Spot

Marci prices were up to off 3 points.

May New Orleans closed up 2 to 22 July points.

October December

24.70

34.40

24.00

24.30

24.00

+300

8. Africa

3831

3834

384

250

Spain

Swedon

16.30

18.20

15.40

15,90

+500

13.30b

13.40b

13.600

13.70b

13.00

steady

Switzerlami

6.90b

6.10n

+100

4,90B

4.80

4,850

4.8511

4.85h

steady

0.00b

9,80

9.80n

1.70b

9.756

+Bo

4.2Bb

4.50m

4.40m

4.40n

4.70

+30c

7.05

7.15b

7.00b

8.35

+75c

Despite the generally slack conditions before and after the Chinese New Year holidays share prices show a net gain in the fortnight since this column last appeared.

Turnover is down from $2.73 million in the week before the holiday to roughly $2.5 million this week (a three and a half-day period).

Thus tolly is 14 up, five steady | higher, with China Lights, 20 and nve lower against 14 cents lower, steady, Ave higher ant Ave lower.

Star Ferry announced`n $5.50 final dividend, the sune a- last yenr. However, Inst year the company also pald → $2 enshi bonus and looking back through the fles I see this, together with the onset of the Interim dividend wenson, leiggered off a buying wave which persisted for three weeks.

NEW HIGH

Wheef shares have done well j over the holiday period.

Elsewhere, apart from a 50 conts rise by Dairy Farm, there are tractional gains and losses which do not call for speelal conument

The prospects appear a little better this week. With Chinese New Year over and the interims coming on brokers may have a Bttle more operating

keener scope and investors a Interest in proceedings in House Street,

DISAPPOINTING

icu

Here is በዛ authoritative Ducks have paid their $5 | account of this weck's market benus, and

Street are now selling at from an Ice House

$45, which un a cum-bonus | observer; basis is now high.

Wharven have climbed up $4 to $07% under the stimulus of

new buying pressure. that

this is

the

I learn continuation Jf one-man cornering operation mentioned in this column some time ago.

i also learn that scrip is getting short and this is the reason for this week's increase,

Another wharf share China Provident has also moved up, though only by 20 cents.

COTTONS HIGHER

Both textile companies are

well, doing

have Nanyangs tacked on 70 cents to $0.35 and Trylle Corporation, 30 eruts to $4.70, I understand that most Colomy foxtile concerns in the are doing well and that it a number a

books ense order

ere filled up to September.

i though the news that the "complete failure" of the Britbh Collon miedon to induce Hang- kong textile men Jo rerture voluntarily exports to fritam might have had

something to do with this rise, but share brokers do not think BO

land

Nanyang's

Sale WAN probably a factor in this share's rise, however,

BLUE CHIPS UP

Bunks

are weaker

buyers and

$1,000

I see that London another

registers are down

IK Really HK Trams Star Ferry Yaumatis Ch Lights Electrica

UK Telephone GL. Cemest

Dairy Farm A. Watson

Fanglaze Ailled

NK & FE Inv Textile Corp Nanyang

HONGKONG

STOCK

EXCHANGE

103"

23.70

3136

steady

+bve

WALL STREET

RISE SPARKED

BY SUGAR

New York, Feb. 7.

(From Our Correspondent)

Business done on the Hong-sparked another rise in stocks today. kung Stock Exchange marting founted

A gain of 5 points in American Sugar Refining

$587,000, proximately "The Stock Market appeared to make qalte

a promising quotations and

vransactions: start

when trading WAK

Bhares resumed on Monday after the

BANKS Chinese

Year holidays IX Bunk

New in that the turnover exoceded $1.000.000 for the day. It WAR

therefore disappointing to And that the familiar dull conditions re- turned the very next day and remained until near the close. "The total turnover amounted to only $2.500.000 that but it should be noted one day's trading was lost on account of the holiday".

laye "Prices generally shown little change exopt in cottons where Nanyangs and

have tucked Textiles usefal ruins оп satisfactory ́orders,

Wharves have shown good improvement and advanced from $94 to $971⁄2-

"Elsewhere there is nothing

of note to report."

SIPPING Wheelock

!K Land

Humphreys

RUBBER

Goins of a point or were numerous, as the market cxtended yesterday's rully.

1000 2 8.3o 2000 på 0,75 10004 0.00

400 08 200

with Bethlehern, Republic and US Steel all gaining small frac- tions.

Du Pont Jumped a point in the chemicals and Allied n small fraction,

High priced Superior Ol of California run up 10 points to 45% $1,305. Geity Oil rose 1. Fractional gains appeared la 15:20 1700 6 1020 Texus Co., Standard Oli (New 12000114 Jersey), and Standard Oll of

California 1000 18.30

2080 1920

Philip Morris

Puro O

Radio Corporatio Republic Strel

Reynolds Metal

Socony Mobiloji'

Pakistan

W. Germmay United

States (NY) 3 -Renter.

WORLD RUBBER MARKETS

New York, Feb. 8. The rex contract closed un- changed to 20 points lower with sales of 198 contracts.

March

May

July

September

November January

September

from

the

30.30

ger द

29.20

29.08

28.05

28.09

then

Routine domestic mill, expor-Mach ters and commission house buy, July ing found offerings limited, pointing up reports of a tighten. ing situation in the supply of free cotton because of the loan rate.

time in

crop news

39.30-23

54.81

3347-50

33.51

33.5

LIVERPOOL

lb. were as follows:

Futures closings, in penca per

Old contract

Mar/Apr.

That

May/June

July/Aug

Oct/Nov.

Dec/Jan.

New contract

Mar/Apr.

May/Juno

July/Aug.

Oct/Nov.

Doc/Jan,

Now crop months lagged. Traders marked sector pending

and awaiting the Government an- nouncement on the Interim loan rate for the new crop.

The Commodity Credit

Cor- poration reported

Joan entries

for the week totalled 01,905 bales. Repossessions of 45,919 bales for the week left the ne

stock of 1058-57 completion under loan at 4,000,200 bales,

Open March contracts totalled 151,600 bales. The certificated stock remained at 2.026 bales.

Month

Vokime Open Interest

40,500

Egyptian Karnak, Jan./Feb.

SAO PAULO

20.30

25.90

28,63

23.20-21

25.00

Futures closings, in cruzelros per kilo were as follows:

May July

October December

34.30

38.33

38.43

In the US the average price of one-tach cotton at 14 designated

spot markets: 33.12 cents.

Total sales at thego market 23.045 bales.-United Press.

The market was rather mixed

of mid-day, falling around

highs, steadied again under day trader covering. Initial strength re- flected higher foreign markets plus u scarcity of shipment offerings, and more consumer 311 interests.

Spot No. 1 Ras was quoted at 304 cents a pound,

The market

ruled quietly ready throughout most of the 53% morning and once reaching t

the 80-cent level on

169; covering.

In the afternoon the market fluctuated wildly and steadied near the close. Futures:

POBIE

B-I E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Outwards "CANTON" "CORFU” *CHUBAN**

"CANTON"

Leaves London

Selled 10th FebruaŁTY

5th April

21st April·

Via Boulhampton, Colomby, Penang à singapore,

Homewards

Leaves Hongkong Due London

SINGAPORE

200

March

12,400 161.300

20.23 May

21,000

383,800

29.06 July

10,400

148,300

March.

228.04

Oct. 28.05 Dec

10,100

147.00

200

1:14,000

Mnr.

1,000

this

Standard rubber futures closed unchanged to 20 points kwer with no sales reported.

to при Noon the morning's

Buyer Sellera Kla

mrc

National Lead

10692

National Steel Corp. New York Central

March

30.10

3041

May

Olla Mathieson

44%

July

20.50

O Mevators

100d

►

17 181

1010

its

Reynolds Metals

group

rose 1% Steels were firm

Owen-linols Class

November

'actfic Gas & Eloc

€914

January

Pan American Airways

101

Marchi,

35 01:003

Paramount Pictures

Parko Devia

East Asia

INSURANCES

204

Penny J. C. Co.

1715

Penn, Solt Co.

loo

15214

0.75

B.EO

Procter & Gamble Co,

42L 4019

cem

Pittsburgh Plate Gle

Publicker

Industries

DOCKS, ETC."

s shirt

Dock, XI

JTOV. (0) 13,30 LAND, ETC. Itic Flute 15.10

Bell Oil Co.

Blaint teu. Paper Sinclair O

101

18.30 18 70

Realty...... 140

145 2300 ( 15214

23.30 219

100 100 21.10 23.20

225 2115

000 4 21.20

372 23.10 2734 31

331 314

a bit mixed.

Curtiss-Wright, Lockheed, and American firmed in the VOTLI 1.35 North

aircrafts.

inched Chrysler higher in the motors.

firmed Tobacco carning repor.. Ralls

Reynolds

a good

Standard Brands Standard Oil of Ca Standard Oil of Indi

South Puerto Rico Sugar Southern National Gas Southern Stattway (Com) Steep Rock Torontock.

4034

19 301

appeared

Sterling Drug Co.

Dow-Jones

closing

averages

Studebaker-Packard Corp,

gwift & Co.

were ng follows:

Texna Co.

Tide Water Awas, 011

30 Industrial

408.71

Twenty Century Fox Fil

20 rulls

145.10 Union Carbide

103!?

16 wilities

71.23

Union Pacific Railway

No. 1 rubber per lb, Feb.

8514-853

•

Mar. 601-0344

65 μtockя

100.93

United Alrerafi

90.30

U.S. Foll

201

No. 2 rubber- per 1b. Feb. No. 3 rubber per 1h. Feb.

615-4

8122-02

188.03

53%

No. 1 rubber per ib. Feb.

7844-701

331

Spot rubber anbaled

RASS-ED

Closing Prices

Blanket crepe

74-20

No. 1 pale crepe

03-95

LONDON

United Press.

No. Rea sput

2014-20

Settlement hour term)

Mar.

2016-379;

Apr./June

2016-201

July/Sept.

2935-23

Oct/Dec.

237-2532

Feti.

Mar. April

גונן

reported

MARKET DIARY

Tuesday:

Wednesday:

معاد

Here is a diary of the week. Monday:

trw counters A made sigh head- way. T/O: $1 million. Market turned dull, T/O: $404,000. Undertone a shade vasier. A mujority of small losses, T/O: $230,000. Signs enquiry.

£1-10-0 to £93-10-0. Unions Thursday:

are also fractionally weaker at

$03214.

In the utility section, Trums,

Youmalls,

Telephones

Electrics

and

close fractionally

changed

of fresh Where prices

closed fractionally higher. T/O: $850,- '000.

Amale. Trust UTILITIES Trust Yournali C. Light

Electric

Macao F..

Relejdione,

31 311

1,80

TO 24 24,70 (N) 231 23,60 INDUSTRIALS cement..... 302 38.75 Repe

12.74 STORES, ETC. Dairy

$5.00 10 10

13.00 13.00

1.00

Watson Sinceres COTTONS Textben Nanyang INVESTMENTS best,

10.00

1250

G00 10 500 7 13,09 500 то 10

121 1,00

4.0% 4,725

8.30

0.75

Singapore

Stock Market

40 bonds...

Comm. future price index

Alden Ine. Acy, Allied Chemicals Allied Mills Ine, Allis Chalmers American Airline American Cable

Corp.

Radio

American Cyanandde Cn. Ainer. Forgn. Power

Ain, Mneli, & F dry. American Metal American Smelting Am. Sugar Rep.... American Tol & Tel American Tob, "" Seaconda Copper Armco Slee}

Annour Singapore, Feb. 8. Brokers today quoted the following stock prices:

Allas Cona, Mining Bellwin-Lima-Hamm, Baltimore & Ohio Bendix Aviation Corp. Benguet Con...

Standard Oil of NJ.

Stokely-Van_Camp,

S. Gypsum

U.S. Line Co

U.S. Rubber

US. Smelting

US. Steel

Water Bros.

Westinghouse Electric

West Va. Pulp & Paper Woolworth

short

2011-2012 -253-301-

3011

"CHUSAN"

"BUNDA"

Due Hongkong 2nd February 3001 March

8th May

in June

18th February

Fist March

Roth February

411 April

3rd April

12th May

WHETHER YOUR BUSINESS

TEA in INDIA

OLIVES in CYPRUS COCOA in TRINIDAD

BRITISH

TIMBER In

COLUMBIA FARMING I. EIRE

BREWING la UGANDA

SHIPPING la AUSTRALIA INSURANCE la SINGAPORE make sure your money is earningg

Mindesit Lipop) 100

in a

BANK DEPOSIT ACCOUNT Send today for "Bank Deposit Account” booklet No. A074 from General Manager

LOMBARD BANKING

LIMITAD

DANKEESSA JA Hand_ffer?_LOMBARD HOUSE,, CURZON STREET

PARK LANK, LONDON, W.L.

GRO 4111: (30 Lom) Bruscher and Agents'shemaghona the Worbl

London Stocks

Firm But Moderate

The

London, Feb. 7. reduction in

bank rate to five per

from 5% per cent

The market was frm with spol quoted at 20% pence për 1b, Prices:

General markets, cit batis, ports:

Estate crepe thin Mar.

thick Mar... AMSTERDAM

The market was stendy. Pricts clared today in guilders per the kilogram, cif Feb. as follows: cent

No. 1 rubber

had No rubber

little effect on the stock No. 1 crepe

15 market today with prices

Opening

Antu Lintang Rubber Co.

Ltd,

$130

Bethlehem Steel (new)

British Dorned

Boeing Airplane

Byndicate

83K30

Bonsei IT1) Cu

Colidaterl Flo Smelters

Burroughs Add Machine

Ord.

31x3d

Canadian Pacific R.

Flarer & Nenve Låd Ord...

32.21

Cao ( từ Ca.

Fther & Neave 7% cum.

Cat Tractor

pref

Colante Corp.

Commons (Malaya) Limited 12.12

Hongkong & Sianghai Bank-

Ing Chri

$550*

C. 1. T, Financial Corp. Chase Manat. Bank Chrysler Motors

Korong Tu Ltd.

End

Colgate-Palmalive Co.

Kempas Ltd.

#1.33

Luna Rubber Extaten Lid.

Mataran Breweries

$2,90

Commonwealth Elec.

4014

New Berandali Rubber Co.

Consolidated Edison

Lil.

Ramon Holei

Petaling Tin L Lt.

12.40

Continental Oll of Del.

#139

19.30

Crane Co...

$2.00

Cmwn Zellebach

Bingapom Call Storage

$1,50

Cuban Amer. Bugar

Beuth British Insurance Co.

$12.50

Dow Chemicals

Straits Trading

$20.80

Dupont de Nemour

Sirulla Steamship

$10.25

| Easter Airlines

United Engineers Ord.

$9,00

Wearne Bros.

$2.87

cumdiy.-Ching Mall Special.

New York Sugar

Market

New York, Feb. 7. World No. 4 sugar

futures today closed unchanged to 17 points lower with sales of 1,077 opntracta,

Domestic No. 6 sugar futures closed

10 points lower to 3 points bigler with sales of 310 contracts.

Climax Molybdenum Commercial Credit

Diamond Alka!|

Eastman Kodak

El Paro National Gas Kela Railroad ..... Family Finance Corp. Ford Motor ...

General Electric General Foods

General Motors

1042

Gen. Pub. Utal

Gudden Co.

Goodrich (3. F.) Co.

rajk

Goodyear Tire

Gull Onl

Heyden Chemical Homsake Mining co.

Inland Blool Co.

firming in moderate trad ing.

Industrials were most popular, but the average gain was around a shilling. Rolls-Royce featured with a rise of about three shillings.

There WAK rome resumption

of buying in British

Gover-

Inode-

ments, but guine wero rate, and few closed of their besi levels of the day,

There was some interest in nuclear stocks with gains rang- ing from one shilling, three- pence to two shillings, sixpence, Olia wore mixed. Royal Dutch dropped about five shill-

2.54 buyerA

2.82

2.48

2.TS

United Preis.

London Foreign

Exchange

London, Feb. 7.

Closing rates were:

New York Montreal

AmsterdamL

Bruneia Copenhagen Frankfurt MUJAR Onio

Blockholm Zurichi

"GANTON"

"CORFU" "CHUBAN"

12th May

12th June

Via Singapore, Penang & Colombo, FREIGHT SERVICE

Joads 12th Feb.

"BALSETTS” due 13th Feb.

"SOUDAN" due 2nd Mar. "SALSETTE" loads Sili Mar.

for Singapore. P, Swet- tenham, Havre, London, Hamburg, Rotterdam, Antworp & Grange mouth

from UK. from U.K.

(or Eiruzapore, P. Swet- tenham, Penang. Lon. doo, Hamburg, Rotter- dam & Antwerp from UK.

"SINGAPORE"due 11th Mar. "BALLARAT due 17th Mar. from UK.

ALL VEBBELS OUTWARDS AND HOMEWARDS WILL PROCEED BY THE CAPE OF 110OD HOPE UNTIL FURTHER NOTICE.

BRITISH INDIA S.N. CO., LTD. 1350 - A HUNDRED YEARS OF SERVICE

-1048

"BANGOLA” due 25th Feb, from Calcutta, Rangoon

& Straits weils 26th Feb, Tor Japan

from Japan "FULTALA” due 28th Feb.

sails 2nd Mar.

"SANGOLA” duo 10th Mir, salle 17th Mar.

for Singapore. Rangoon, Chittagong, Visakhapat- nan Kakinada from Japo

for Bingapore, Penang. Rangoon & Calcutta

P. & 0./B. I. JOINT SERVICE

"ITAURA"

dun 10th Feb. salis 11th Feb.

"URLANA”

due - 17th Feb. sails 19th Feb,

"UMAKIA"

2.7044-2.7016 2.01-20/10-240 10,60%-10.07 14060-140.44 29,2011-10.201

1780-1101

20.00-20.001

"TTOLA"

United, Prem,

Other were unchanged

14,455-14.8012 THEM

ings, while other leaders moved New York Foreign

up one to two shillings.

Canal jumped £14.

Sucz

German assented bonds were

narrow, and mixed, while the

Ingersoll-Rand

Interthemicol

Corp, Int'! ́Dualness Machines

503

371

non Hesenteds WETC

1044 Japanese

100

Int Harvester International Nickel

Inferendoemi Paper. Inti Tela Tel Jolin-Manvilla Co.

Lockheed Asperäft

World contracts fluctuated Kennecolt Copper over a wide range, meeting Lierett Meyers Tob, Co. alternate spurts of hedging and Loews Incorp, Hiquidations as against Burries of Lone Star Cement Co. trade buying and speculative Louisville & Nashville' ft. covering.

Lock of details

Löwenstein & fort

on some of Moshi Don Car

· Minremota, Mining

the World row business done in the part 24 hours, - and conillo ting reports of possible new bitinces, weTO unsettling in fluences.-Valted Press.

Sidon Development Monsanto Chemical Co. Montgomery Ward Motorola Ino,“

National Cash ftag.""" National Dairy Prod.

non-precated

the.

1930a

rose £1 in an otherwine- dull

301 group-United Press*, ***

Exchange Rates

Business was done in the 10281] unoficial Exchange market, this

£30 | morning, as, the following rates;=

Sale V.B. dollar, iper (1)

Sterling hole. (pár "#1). Australlen notes (per é)) Indonezian blah ther÷100) Blam Hos] ([pat® 100)

3071 1.Bingapore (itraštu)

Exchange

New York, Fob, 7. Closing rates were: Canada,

England unofficial: “ Argentina

1.04-77

3.07-2.09

0280

United Pres.

NAMESAKES

Answers-1 Johanna, 2 Opera,

3 Carynx, 4, Singing, 5 Melody, 1, Goldschmide, A. VoMusical, -Nighlingsle, D. Sweden, Canti

Jenny Lind

("The Swedish 135) Nightingale”).

7.80

due 23rd Feb. saila 28th Feb.

due 4th Mar, salle 8th Mar,

from Japan

Jor Blgapore, Bombay, Karachi, Barat, hot- rang Kuwait from_Japen

Cochin,

for Singapore, Bombay: Karachi, Bas- ran de Étuwait - from Japan Nat

for sinsspore, Bombay, Karachi, Dubai, Kuwait, Khorramshahr de Hazrati from Bombay de Marsolj for Japan

EASTERN & AUSTRALIAN S.S. CO., LTD. "NELLORE" due li Feb. from Acstralia "NELLORE" loade 7th Mar," ter· Bandakan, Zloty

bourne de Kl

All venela havs Überty to call at any Duęta on of all the foute & the route à exling Ats sahjort to charge of amendment with or without notien.'

For full particulars apply to: MACKINNON, MACKENZIE & CO. OF HONG KONG 110. Telephone Nos: 27721-4.

1957-02-08 — Page 9

Comments

Private Research Note