THE CHINA MAIL, FRIDAY, MARCH 8, 1957..
TRADE and COMMERCE SECTION
STOCK EXCHANGE AGAIN DULL Singapore UK Investors
Turnover Drops ★ The Share Market At A Glance ★
To $2.5 Million
MIDDLE EAST NEWS
By A SPECIAL CORRESPONDENT
Good balance sheets, good dividends but the Hongkong Stock Exchange con- tinued dull'this week.
Turnover dropped from just over $3 million to slightly more than $2.5 million of which $948,000 was transacted yesterday.
Brokers are at a loss to explain why.
nouncement that Government would not interfere with the Increased Murcharge rales but they All back almost as quickly 11!
market dull which lacked support. 123
fell
On
One possibility 1 pe market WIN wolling for the news of the Israel withdrawal from Egyptian teritory. Thre may have been teas fears that His continued
prese Sharm el Sheikh nud Gazi threatened a otw conflagration
NEW HIGH
hove
If this is no, yesterday's in- erensed Betivity nght been due to the newer Brat dat larach Polarment had An..'s
MC *pproved
19ax Gurion's withdrawal policy
#
Holais
back
sharply
quite disappointing
dividend he wa,
Titty sharra have kept
quietly slendy,
shares
More than 5,000 Hongkong | Lan
changed hands yesterday between $631, and
following last werk's 504,
of au
almost AJA DECment $2 million increase in proßt,
MARKET DIARY
1 thậty of the market
T
The dy other
App
and rather vagut te
Tata, t
rate
the a
this week:
Friday:
Lokitų? werk, The tally to tafter nino kawer and say higher previous week there were stendy, mine 131I
marke: Bu
Aut
That
1
-was from a bioket win money may be going into forms of Investimenă, specifying which form.
of the
higher.
Hongkong Bracks
lower on the week
Sel
yendidas
with an aftegnum sale of 10 at $1500.
Lombaros Unions and
were study.
Monday:
· Tuesday :
Hongkong Wharf fore r new high at $102 unive new demand and Docks dropped down from their 548% peak lu elose at $47% middle. Providents | Wednesday: ure steady at $13.30.
BACK TO $10
In the utility section. Tramus, China Light and Telephones all closed fractionally higher.
The two Ferry companies and Eler- tric ure steady, China Tights and Hongkong Electric rose sightly the news that Friday uti
Inst
Governmen! did not Lipat
In Interyche
the emporio
decision to raise the surcharge from nine to 18 per cent, biet dropped back soon after.
Mardens
Wheelock fractionally off at $0,86,
Hongkong and
Far
are
East Investment have climbed back
to the $10 mark.
Beyond this there is nothing particular to report apart from the balance sheet of Hongkong Telephones which was described by two brokers as "very good".
$2 MILLION RISE
The company shows a pront of $6.3 million against $4.3 million in 1055. Is plans for expansion indicate that this year's figures should be better €1!11.
Hongkong Electric' announce o $12.2 million profi ogainst $11.00 million last year,
Vibro Piting
Hanounce
a
Thursday:
Shrid upprymd
"
Cla 1..
..od Hongk
Kevine's
Fallen 4:22
mencement
vernment
entere neretul
4
(100
ank Trams
Up or
down
-$5
steady xtendy
WORLD
RUBBER
MARKETS
Singapore, Mar. 7. Despite sightly better over- seus advices the rubber market from the opened unchanged previous day's close, and it
Stock Market
Singapore, Mar. 8. Brokers today quoted the fol- lowing stock prices:
Opening Hatu Lintang Rubber Co. Ltd. $1,80 British Borneo Petroleum
Byndicate
40/04 Consolidated Tut Amaliers
Ord, Fraser St Neavo Ltd. Ord... #31.50 Fraker & Neave Ltd, 76%
cwn. prof. Gammonta (Mamya)"Limited Hongkong & Shanghai Bank-
Apathetic
London, Mar. 2.
Stock markets dragged their feet all day, mainly disturbed by next week's demand of the glant Steel Company of Wales for 10 million sterling of the British public's Investment funds in exchange for its 40 million new ordinary shares. Other factors in the background nre similar demando by ether command for
ducing the routine
Feb 7
Feb 14
HK Bank
1000U
1010bs
L&mbard
380
3716
Feb 21 1615
3Яn
Feb 28
Mar 2
1505xd
1500
3861
18n
finion
95214
91714
945m
935m
925
Wherlock
0.75
6.75
0.85
6.90
- 0.85
HK Whart
911/2
102
100m
10%
+52
ИК Паска
45xd
ABY
4731
481n
4794m
Provident
13.40m
13.40
13.30
13.30
19.30
750 steady
ing Corp.
Hongkong Tin Ltd.
$4,00 $1.90
1/04
HK H1014
15,26
15,80
16.00
15,00
15
000
Kempas La4.
11.45
IIK Lands
01
03%
G45
04
04
steady
Lainas Rubber Estates LAKE,
0.07
stocks already
Malayan Baweries
$2.00
exchange,
UK Really
1.40b
1.825
1.425
23.50
23.40
23.90
140N
144
1,40m 22.90m 138mxd
1.375m 21.90xd
New Serandah
Bubber Cu.
Industrial
+100
Lld.
$3,30
104
101
1056
23.10
22.00
Electries
31A
30x4
138mxd 105
22.90 30xd
Klendy
stealy
+ 100
eased further" on more kat day March liquidation.
Petaling Tia Lid.
$2,60
lower today
Kafes Hotel
Singapore Cold Storage
steady
In
Lk.
MK Telephone
24,00
25.40
25,70
23.80xd
G.1. Cement
3814
38%
374
33xd
Dairy Farm
15.00
15.90
16.10
16.20
23.00xd 33x0 16.10
+10c steady
Strails Trading
***
Straits Steamship
100
A.S. Watson
13.90%
14
14.20
14.20m
Yangtze
6.100
0.101
Gn
11.30mxa
5.805
-200
Alfled
4.8571
4.8511
4.KU
4.859
4.80%
steady
KAFE Tav
9.78b
0.700
9.700
9.75b
10
+250
Textile Corp Sanyang
4.70
4.70%
4.71
4.70
4.75b
+30
8.35
8.40
8.23
8.10m
भ
-100
Tautnatis
Ch Ligh
AFRICANS RETURN
ΤΟ WORK
י!
Mom, MT 1. 7
+
·
E
Acres Casual GOL NOVVdures
El
1216.t
The Alta at
www.1
Aut
TO SILA
Cam featu Jess T/A $300,000
Lastleys; Lght- rale trading, T/O: $392 - 000
Trading at a bare T/U
minimum.
$17,000,
Na material change. Trading on mg er- ale
with scale Lands well sup- ported. T/Q: $943,- 000.
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Business done on the long- this
: Stock Exchange morning amounted 10 $200,000. Nom quotations and the mor ing's transactions:
Shares
Buyers Sellers BANKS
1000 HK Bank XD
Fri Aki
XD INSURANCES Lombard
242
Salen
SHIPPING
Wheelock
120
6.83 1100 4,00 DOCKS, ETC,
0.00
500 74
47% So 13.4u 1000 g 1.35
K. Wharf.. 101 103
Dock
47% Prov. (0) 3320 199,50 S'hai Dock 1.30
is LAND, ETC.
pront of $744.179 which double lust year's figure of $351,722.
Hongkong Indi Shanghai Hotels announce a dividend of $1 which though unchanged was disappointing to the market. In 1955 the company paid a $2.50 cash bonus following the
Sale
the
of its Pedder Street site for $11 million, in addition to dividend,
'IN DOLDRUMS'
Here is an authoritative Ice the House Street account of
market this week:
HK Hotel 14.70 10.10
1k batid,
X All... 21
Humphreya
XD ...... Renity
RUBBER
Amat Trust
UTILITIES Train XD Star Ferry
XD Yaumati
17.10 1000 17,10
1.35 1.40
10NWARIS 201,400 or 1.4235
2010 JU
2:43
10
120
16
་
יזיויינ!
clearis Arike
have beets docks,
105
22.30
WALL STREET PROGRESS
INTERRUPTED BY DEFLATIONARY TALK
New York, Mar. 7.
Another interruption to stock market progress came today on the heels of renewed deflationary
have returns to talk.
aut
conditions
Mokestach
Stocks dant a few cents demands average--inete Ar; deeline
Prezident
t being ve
Eisenhower announced
Penn. Sah Co.
Philip Movzia
Porter & Gamble Ca Pittsburgh Plate Glas
#t
to work olga be necessary to slow up
A web segmened by Fedical spending on some pra- unpeeled agila- | jeets to relieve inflationary ndo en employment, pressures. Mal Spe
US-Dutch Air Treaty Debate Postponed
The Hague, Mar. 7. The Second Chamber Dower heuse) of the Dutch Parliament was previously advised by its 1241 to begin the Committee debele on a recontly concluded Dutch-United States friendship commerce and navigation tresty heture the end of the Dutch- Auterival
10 aviation talks due
Washington this
moni.
In this saITYE
vein US Ruv-
her Co. Presid! H. F. Huni phreys, J. charged that the Governmenl'a "sound" and "'reckiusa' Apeticling Julicies
matangering growth and persunal
America.
economic freedutn
ones
The declines for the most
WeTe mali
and volume lightened—to 1.830.000 shares from 1,840,000 on Wed- enlay. There was ille con- abdency to grip movements.
Paper stocks, hardly tretid- hotd abnt the best setters, group pertuˇinance.
Fractionally
Publicker Industries
Pure Ol
Reynolds Metal
Shell 1 Co.
Saint Reg. Paper Solur Aireft South Puerto Rico Sugar Southern National Gas
Southern Railway Com.)
Sterp Rock (Torontoex.) Sterling Drug Co. (New) Stokely-Van Camp. Tide Water Ason. Dit Twenty Century Fox Fin US, Foil 1...... U. S. Line Co. ... West Va. Pulp & Paper Western Union Te
4148
19
United Press
COTTON PRICES
New York, Mar, 7. Volume and open interest on the New York Cotton Exchange
today were: Monti Mat May
Chryster,
eklet Wednesday feature with its gain of more than 3
clown points, backed fractionally
(F) profit-taking July despite the statement by
its Dec. These talks were broken off uncial
MAT that vice-president
May kat June, because of the Ameri
sales of the company may ex- July can refusal to grant additionstafe
Total landing rights sought by KLM red billion in the first quar Royal Dutch Airlines in Loser, making it the best quarter Angeles and Houston, Texas. in the company's history. This retusal has caused resent- was, however, the must actively traded issue Ford and General men in the Netherlands.
Motors also cased,
sald the Committee The Chamber members should know
There were dtelines of over a
anki
the results of these talks before point in United and Boeing in
melt
ultimate the "determining -
aircrafts, Aluminium andpoint" on the question of National Lead in the motale milleation-China Mali Special. Seaboard in the oils, Youngstown
Shoot & Tube in the steels.
Industrials fell 11 to 71.80. The utilities gave ground with the rest of the list after touch-
Coke Factories Set Record
.
Heerlen, Mar. 7.
The coke factories of the Netherlands State Mines pro- thee a record 2,034,000 tons of coke in 1930. The sale of coke 10 per cent in- Kas showed
1955 with 367 cubic cremus ovor
to muni- metres of gas sold cipalities and Industry.
products derived from Benzol the gas totalled 21,000 tons in 1950: production this year is expected to reach 25,000 Nogen production
tons. reacherl
July/Aur Oct/Nov Dec Jan. New contract
Mar/Apr. May/June
July/Aug.
Volume Open interest
8,400 20,000 *D,DEN 144,000 0,600 157,400
Liverpool, Mar. 7.
ing a new 25-year high in their Eryplan Kernak
average in
in early dealings. Of a total 1,114 Issues traded. 443 were higher, 423 lower, 240 unchanged with six at new highs, five at now lows.
NY Stock Exchange. bond volume was $3,700,000.
American Stock Exchange voluine was 600,000 shares.
Reports of possible compromise | South British Insurance Co. between rival faellons in dnesl enused further ensiness ufter omelni closing, There was
a good enquiry for most lower grades and fair factory interest.
Future closings were: No. rubber Märch No. 1 rubber April No rubber March
No. 3 rubber March No. 4 rubber March Spot rubber Inhaled Blanket crepe
No. 1 pals crepe
AMSTERDAM
BOY-BUY 8014-00-34 0514-80
-A!
70-70 93-07
United Engineers Ord. Wearne Bros.
$1.00
TU-
listed on tho
chakos
drifted
but Josses were
ranged at more than 6 pence or pence. C. A. Parsons, after 10sling a shilling, closed un- Shipbuilding shares the marked lower OTI strike threat.
$32.00 changed.
$17.00
exdiv: 1 Curdiv; I edch-China Mail Special.
Trade Delegation For Australia
Djakarta, Mar, 7. Indonesia had agreed "tacitly The market was quiet, Prices to an Australian Invitation to clock today in guilders per send a trade delegation to Aus kilogen, eif March as follows: tralin, Australian trade sources No. 1 rubber
1.82 buyer said today. No 2 rubber
No. 3 rubber
No
:::
2.50
2,47
! chepe
2.75
LONDON
The market was barely steady with ot down three-fourths of a penny to 20 pence, Nu. R
Settlement huure ten
233-20%
May
April
2014-2016
2011-20
Jusie
Ame
2015-20
2017-20
July/Sel
2011-2011
Oct./Dec.
Jatt/Mar.
25-2515
March
291)-2
April
May
General markets, elf basin ports:
Estate Cress th March
thick March 19
-United Press.
CHICAGO GRAIN
MARKET
Chicago, Mar. 7.
Most grains were lower
on the Board of Trade today after a fairly active session.
prices
were
IC
Wheat
slightly higher nt the opening on ports that Brazil bought 9,325,- 000 bushels
of hard wheal. There was no laying of futures against this business, in fact some export houses sold.
Other grains followed sult and prices declined.
Soybeans rallied at the start, but declined slightly to around the previous clost.
Wheat closed off to up 4 cont.
The delegation is not expected to leave hero for Australia be- fore the middle of May,
were
Oils were strong with Royal Thatch up 7 shillings 0 pence, Shell Transport_up 8 shillings. and British Petroleum Burmah 2 shillings,
and
Suez Canal similarly gained
sterling to £5311⁄2.
It was an extraordinary day
in the foreign bond section for not a single transaction ep- peared on the tapo dealing with the Japanese and Chinese issues.--- United Press.
well-known
German,
NAMESAKES
2 Suez,
Answerg-1 France, Concreto, 4 Disraeli, 5 Traffe,
The source9 hope talks be
8 Charmel, 7 Canal. 8 Britain, à tween Australia and Indonesia Dam, 10 Island, 11 Crane, 12 can result in a new trado agrce- } Enke. 13 Engineer, 14 Shares, ment to replace the agreement | 15 Survey, is Excavate, 17 which expired in October, 1963. Į Ships, 18 Construct. -Reuter.
Ferdinand de Lesseps.
#
PO B∙I EA
|
COMPANIES
PENINSULAR & ORIENTAL S.N, CO.
PASSENGER/FREIGHT SERVICE
Leaves London Das Hongkong
Selled
5th Apri
.21st April
30th March
Outwards "CORFU"
"CHUSAN"
"CANTON"
"CORFU"
28th May
Via Southampton, Colombo, Perang
Home,rards "CORFU"
"CHUSAN"
"CANTON"
"ÇORFU"
*
Leaves Hongkong
3rd April
12th Mey
6th June
13th July
6th May
1st June
0th July
* Singapore.
Due London
12th May
Junia
12th
TO BE ADVISED
Via Singapore, Penang & Colombo FREIGHT SERVICE
"BALSETTE" In Port
sails 8th Mar,
**SINGAPORE” duo 12th Mar. “BALLARAT" duo 17th Már.
due 23rd Mar. "BOMALI" “SINGAPORE'loads sih Apr.
THE
for S'pore, P. Swet- tenham, Penang, ion- don, Hamburg, Rotter- dar & Antwerp. from U
from U.K.
from UK.
for S'pore, Pt. Swelten- Bam, London, Hamburg. Rotterdam Antwerp ö Grangemouth
AND HOMEWARDS
CAPE OF
BRITISH INDIA S.N, CO., LTD.
from Japan
GOOD
for Singapura, Penang, Kangoon à Calouci
1850-A HUNDRED YEARS OF SERVICE — 1950 "BANGOLA” 989 100h Mar, xalis 17th Mat,
"SANTHIA” due 27th Mar..
Balls 20th Mar,
"ORMARA” due 27th Mar, sally 28th Max.
from Calcutta, Rangoon & Straits tor Japan
7.100
142,800
1,700
3200
$5,200 000 33,000
62,600 LIVERPOOL
037,000 birm
Seybeans closed up to o!I
4 cent.
Wheat No. 2 Hed
Cotton futures closings, In pence per lb, were as follows: Old contract
Spot
Mar. 24123(4)
May
July
Mar/Apr.
25.05
Sept.
May/June
Dec.
Corn, No. 2, yellow
Spot
Mar
May
24.32
July
Sept.
Oct/Nov
24.08
Dec.
Dec/Jan.
29.48
Ryo
ALL
WILL
Mar.
Jan./Feb.
40,00
May
United Press.
Qata
Mar.
May
73
LONDON METAL
Soybeans, No. 2, yellow
Spot
PRICES
Mar.
13474 1371-131
7514-3
245/n 2431
VESSELS OUTWARDS
PROCEED BY
HOPE UNTIL FURTHER NOTICE.
May
24415-94
July
242-
London, Mar. 7.
Sept.
Nov.
Prices of metals closed today
Barley,
2391 2321-1
Spot
lowe
New York flour
Duyers Bellera
# 18/
Tin spot
705
201
3-month
750
7751
Copper pot
241
242
Radin
manth
2301
10
Lead 1st half Mar.
1121 June
Zine ist halt Mar....
June
1234
201
0372 The tin market was steady while lead, copper and zinc were also very steady.-United Press.
90% 船
lodny in centr follows:
as per bushel
Oats
May
72!
*
July
M
"OBRA”.
"ITOLA"
Oel.
72
NY COTTONSEED
Iye
May
"IKAUNA"
July
The
OIL
Oct.
Cilmax Molybdenum
Corneretal Credit
473P
Comynwealth, Elec.
Continental Ol of Del.
New York, Mar. 7. July Prices
cottonseed oli of futures closed today in cents Flaxseed
Barley May
Oc
Diamond Alkali
per lb. as follown;
May
Doug Aircraft
703%
March
Dow Chemicals
BUND
18.08 18,33
July Oct.
May
El Paso National Gas (New).
201
July
16.77-28
Family Finance Corp.
23
Beptember
16.12
Firritune Tyre
3:3 October
10.05
5735
December
15.70
Gen. Pub. UN,
30
January
10.70
脂
March
Heyden Newport Corp.
152
May
15.57
Closing Prices
Alden Ine. Acy. Allied Mills Ine.
American Airline American Cubie
Corp.
Amerlenn Cyanamide Co, Amer. Forgn. Power 250.000 tons und the Mines A. Mach. Fry emnonia factory has been ex-Baldwin-Lima-fam. tended.
Altogether the nitrogen
Atlas Cons. Mining
Bendix Aviation Corp.. Beneficial Finance pro- Horing Airplane duction per unit was now the Herden The Co. 22.50 third largest In Europe, the Burroughs, Add Machin
NSM announced. It is hoped
A1.80
140 430
100
100
22.10-23.00 1000
3014
300 30
24
C. Light Electrio Muçao E. 9.70 Telephone,
XD
...... $1.5o
INDUSTRIALS Cement
STORES, ETC. Dairy ..... Watson
X All COTTONS
The Block Market appears Rove to have lapsed Into the doktrums agula and business during the past week has been at a low ebb with the
བྷུ ་ ༔ ༔ ཙྪིབྷྱོཿg ༔ཎྞཾ
23.00
13 100 @ 2234
10 10.20
COD 10.10
11.20 11.30.
500 1,00
350 14.40
5.85
4.00
total turnover amounting to Nanyamg 0.66
only about $2.5 million,
There does not appear to be any particular-reason for the apparent lack of Interest expecially in view of The numerous dividends resently
most of BABOMINCE
which Have been quite sailsfactory.
MISCELLANEOUS Vibro. INVESTMENTS Yanatate
Atlled
Exchange Rates
7
Business was done in the local With the market in its | unoficial exchange
market
to open a polyethylene works at the end at 1938-China Mall Special.
New Stainless Steel Plant
Bridgeville, Penn, Mar, 7, Universal-Cyclops. Steel Cor- poration has announced plana buld a plant near Coshocton, Ohio, to produce stainless steel. The company is seeking
Care. 1.) Co.
Cat. Tractor
Celanese Corp.
C. I. T. Financial Corp
Colomblan Carbon
Ford Motor
Goodrich (B.F.) Co
koomstake Mining Co. Inland Bleel Co. Interchenical Con International Papër Johri-Maryšio Co
to
obtain 500 acres on the Muskin Liggets Meyers Ab, Co. gim River for a site,
powenstein & Sons,
Me William G. Steward, Priscoanel Airersit
Meenb) Iron Corp. deat, described the move as a Minnesota Mining
Ma Development
this part of a long-ignotanto Chemical, Ca 2010 which will also involve: existing
present state, price. obatires morning at the following rates: as of improvements, and
U.5. dollar. (per $1) Youn
generally have been negligible sterling notes (per £1,
· Beth ・・ light and power Australian noŝoj (per £1) A 12.68 plants at Bridgeville and Titus
Indonesian Fuplatz (per 2001 1070 ville, Pennsylvania China Mail company sharos Improved
#tam ^lical (pře: 100) following the
Singapore (Streita)
1.50 Special,
35.70
Motorola Inealorize National Dairy Prod. National Steel Cors
Owen tuinols. Olam
Olin Mathieson
Penny 10. Co.
in sterling per long ton as fol-
Sales 107 contracts,
יפוג
United Press,
CHICAGO LARD FUTURES
Chicago, Mar. 7. Pricon of land futures closed today. In cents per lb. as followar
March By
200 . atk
190-140
$13.40 United Prem.
WINNIPEG MARKET
Winnipeg, Mar. 7. Prices of grain futures closed
Untied Press.
NY COFFEE PRICES
Now. Yoric, Mar. 7. Bantos: "B" coffee future to day closed", two to: 60: points higher with mules of 44
con-
Tes
In the spot market, light de-
| mand lowered Bantos 4, 11⁄2 cent to 69% conta. Futures, clowed In cents per Ib..
March
May
July
14.52- Prem
Reptember
from
Japa
for Singapore. Penang. Rangoon, Chittagong & Calcutta,
P. & 0./B. 1. JOINT SERVICE
"ISMAILA" due 12th Mar.
sulis 19th Mar.
due 2nd Apr. Falls Sin Apr. *
from Bombay - S'pore for Japan
dup Sih ApE. anila sih Apr.
due 19th Apr. salla 19th Apr.
from Bombay & Karachi for Japan
for Japen
for smgapore, Penang, Coshin & Bombay
for Bingapore, Bombay, Karachi, Basrah, Khar ramshahr & Kuwait”.......
EASTERN AUSTRALIAN S.S. CO., LTD.
"NELLOBE" fonds 8th Mar,
"NANHIN". 1ands 19th Mari-
for
for Bandakan, 'Itabaul, Brisbane, Sydney, Mel- bourne di Nettide
Sydney & Ma}=; beure direct All vessels have liberty talents at 807; porta-m er of the route à the zonde à miting ara sisäject to change or amendmane, with or withḍuk·moltes.
for full particulars apply to .
MACKINNON, MACKENZIE & CO. OF HONG KONG LID. Telephone Nos: 277914.
*
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