1957-03-29 — Page 9

THE CHINA MAIL FRIDAY, MARCH 29, 1957:

TRADE and COMMERCE

SHARE MARKET CLOSES LOWER NEW

Widespread Losses On The Week

TURNOVER FALLS

By A SPECIAL CORRESPONDENT

Last week's improvement in

prices was

* The Share Market At ́A Glance

IIK Bank Lombard Union Wheelock IIK Wharf

НК Москв

Provident

11K HotelN

Up or

down

slesdy

100

--250 -40.

STRE

COTTON MA.

WORLD PRICES

New York, Mar. 28.

Cotton futures today moved Irregularly higher for the third session in a row,

Feb 28

Mar 7

Mar 14

1805x0

1560

1805

Mar 21 1800

Mar 28 1815

+$15

18m

38n

37.50mm

37.501

37b

steady

935m

085

D23

936

945m

+$10

0.00

6,555

6.80

0.75

0.70

1006

102

103

102

101

$814n

4733m

4834

4434xd

leady

13.30

13.30

13.10

13.20

13.20r

15.60

13

15.10

14.10xd

13.706

TIK Lands

44

04

3814x

381

3014

HK Really

1.40m

share

UK Trams

22,00m

1.375m 21.00xd

1,375

1.376

1,850

22

22m

21.90

-100

136mxd 125mxd

133b

185b

136s

105

105

1050

107

102xd

steady steady

22.80

HK Telephonet

30xd $3.80xd

33xd

10.20

22.90 30xd 23.90xd 38xd

10.10

23.10

22.90

22.80

-300

20.00

30

29.70

~300

24.10

21.00

24.70

+100

3234

33

33

-500

1410

18.40

10

100

A.8. Watson

14.20m

11.30mxa

11.30

11.80

11.80

steady

5.80b

3.85

5.85b

5,840

steady

13 points,

4.80%

4,80%

4.75m 1

4.760

4.725n

-2340

K&FE Inv Textile Corp Nanyang

9.75b

10

100

9.900

9.800

-100

4.70

8,10m

4.75b

B

4.75m

4.706

8,20

8.25

4,725m 8.20

+2140

-50

up

Strength, in forwards pointed the soll bank Influence of

shortlived and the market closed this week with widespread small losses.

fell quite substantially from $4.14 The turnover million to $2,69 million and the tally for the week wits four higher, seven steady and thirteen lower against 12 higher, nine steady and three lower last week.

The reason for the dullness is hard to state precisely, China Lights, because of the protests against the recent incrtuse In

10 surcharge, are inclined be out of Invour at the moment. The long hoped for bonus issue can not be expected as long as the surcharge remains, brokers feel.

The

Yumati Ferry Com- pany's balance sheet which arrived this week shows a profit of $0.25 million compared with $5.51 million last year. Distri bution is ther because of the increased dividends up from $3.53 million to $3.78 milion. A total of $1 million goes to the Typhoon and Accident Fund.

Market лють зау that Hong-The General Reserve beneflls by kong Electrics are also inclined $080,000 and

to be depressed because of the taxation

surcharge.

and

serve,

Shanghai

On

Hongkong Banks have brightened up the news of a rise in London registers-up from

£83.

WIS

£014

Another big share to rise this week

Union Insurance which rose $10 to middle quote.

$945 on

U

Dairy Farms Lower

Among the losers this week Was Dairy Form which un- nounced an unchanged final of $1.10. The Jos was 40 cents. Hongkong and Shanghai Hotels was another "big" loser,

dows

15

48 cents on the week,

Green Island Cement are

50

cents lower at $33.

Elsewhere prices are slightly

lower where changed.

WORLD

RUBBER MARKETS

New York, Mar. 28. The rex rubber contract today closed 50 to 60 points lower with sales of 95 contracts.

May

Juty

September

November

January

March May

31,00

30.5.01

30.60

30,35

30.13

до

29.10

CiT esz

Standard contract closed 50 to

58 points tower with no sales.

May

July

September

November

January

March

My

$050,000 goes 10 and contingencles re-

No Follow Through

Here is an Ice Hou50 Street observer's

account market:

of

the

There was no follow through Improvement to the general

week and with the market,

Star Ferry Yaumails Ch Lights Electrica

G.I. Cement

Dairy Farm

Yonginze Allied

UTILITIES MATCH

THEIR OLD

HIGH

ON WALL STREET

New York, Mar. 28.

New York Sugar Market

New York, Mar. 28. World No. 4 sugar futures today closed unchanged 5 points lower with sales of 347 coh- tracts.

Domestle No. 6 sugar futures closexi 1 point higher to 1 point lower

of 16 with sales tracis,

raw market May liquidation featured situation

world on the

An Caster

New crop months showed relative strength, while old crop deliveries met renewed selling from holders expressing a belief that price-shaping in- fluences there had been discounted.

Final prices ruled off to up

The market opened unchanged le up 7 points. New Egyptian Orleans closed up 6 to 8 points.

Dec/Jan.

Cotton

Karnak Jan/Feb. 80.00

SAO PAULO

future

th

closings, programme and prospects for a acruzeiros per kilogram wero na

government loan rate. higher

Because of the inflotionery | July nee, and March

of the parity base, and fnend expected reduction of the sur- plus through expanding ex ports, one source felt the loan rate may be about the same of the 33 cent base prevailing on the old crop.

A

in

follows:

Oci,

30.00

unquated

In the US the average pricv. of one-inch cotton at 14 signated spot markets was 33.80

centa,

21

Total sales at these mark?ts were 29,162 bales.-United

NAMESAKES

Answers-1 Bath. 2 George, 3 Dandy, 4 Court, & Fashion, & Tallor, 7 Style, & Clothes.

Beau

(The

Press. gradua! Improvement world economie conditions, and the retaining effect of our ex- port price, are expected to in- fluence

foreign production of cotton and rayon, the observes added.

interests, sup- Leading spot posedly reling in part for for- eign accounts were accredited buyers of around 10,000 bales, spread out in the deliveries from October forward. Memphis ship-

ERA pers at the same time bought around 8,000 baies, Other spot frins were seller of May and 6.12 July against purchases of new

crop months.

con-

and the

тож

contract, whlic e routine trade developed in the domestic de liveries.

Steel and metal shares, selected oils and special issues and the utilities highlighted a stronger, more active stock market.

Utilities - thanks chiefly to a gain of 3

matched their 26-year | May points in Peoples Gas he high touching 71.58 on average, up .33 point.

shown during the previous devoid of any sustained in terest prices have tended to drift fractionally lower

with hut fow exceptions, Trading has been on a

with ncaje

the turnover dwindling back to approxi- mately the $234 million mark as compared with $4 million. the heavy class, Hongkong Banks and Unions have main- tained their recent firmness. Telephones were again active- the price ly supported with well maintained. Dairy Farms were surprisingly disappointing and lost 40 cents on the week. Rubbers were

In

moderately active with Amalgamated and Rubber Trust a shaile firmer. Elsewhere Changes were mostly lower but insignifienne and there is no feature worthy of special comment.

Market Diary

Industrials nverged 1.69 Int'l Harvester points higher at 475.01 and rails

added 20 to 144.49.

Volume Increased to 1,930,000 shares, heaviest since Feb. 16, from 1,710,000 on Wednesday.

The improvement was seen as chiefly technical, reflecting lock of selling in recent sessions and

without real WDS although the best performance of recent sessions.

Metals

Non-ferrous

enthusiasm.

metals also did well with gains ranging to 2% points.

very

While motors moved

Motors wa harrowly, General

activoly traded following

Here is a market dlary of the Bethlehem in the active list.

week:

Friday:

11.02

30.87

20.00

Monday:

30.39

30.16 20.05 20,10

Tuesday:

༤་.

issues

558 higher

Out

1,125 of a total traded there were and 61 at new highs; 310 lower with 22 at new lows and 251 unchanged.

Exchange

Stock New York bond volume was $3,710,000,

well malt Prices tained. T/O: $820,000. Quietly steady. T/O: $458,000. Light-senle trading with minor changes Priers continued erratic with

elther way. T/O: line of lens! resistance

on the

$555,000. After downside.

hedtan!

Wednesday: Dull' and feature- start, prices broke sharply.

less. T/O: $170,000. After

a partial rally, prices

Price 1997 | Thursday:

were: changes few close. again at the

T/O: and small. dealer interests with in-

$570,000.

A

MSA

corections were the

leading seller, with pressure from that direction touching off stop-loss orders.

Other dealers were scale- down buyers, presumably cover- ing of short positions on the decilne. Local sellers also were reported offering in the Ams- terdam market. Lower London cables, plus the discouragingly slow demand from consumers,

tho dominant remained fluences.

Current prices are the lowest in several weeks, some techal- clans thought the decline might carry a Bittle further before consumer's interest is attracted. Spot No 1 Rss was quoted locally at 31 cents a pound.

SINGAPORE

The market opened around the previous levels but it cased on heavy liquidation At lower levels there was a good demand for lower grade.

The markot steadied with sellers reserved. Futures: No.

rubber per lb.

DO-00

April May No, rubber per ib. April 8/1-01 No. 3 rubber per ib. April 81-87 No. 1 rubber per ib. April BG-00

J

HONGKONG

STOCK EXCHANGE

(From Our Correspondent)

American Stock Exchange volume was 980,000 shares.

Dow-Jones

closing

30 indiatrinis

16 utilities

20 rally..

65 stocks

International Nickel International Paper Int'l Tel_k_Tel ....... Kansas C. Power & Light"

Cennecati Copper Liggett Myers Tob. Co,

Lockheed Aircraft Loews Incorp

Lone Star Cement Co. Lowenstein & Sons, Ligh

Aircraft (AM,

McDonnell

___Block_Exge.)

Mesabt Iron Corp.

Minnesota Mining

Mission Development

Monsanto Chemical Co.

Montgomery Ward

Motorain e.

National Cash MER. “A”

National Dalry Prod.

National Lead

National Steel Corp. New York Central" Oun Malhienon Otis Eleva1DTS Owen-Illinois Glass Pacific Gas & Elec, Pan American Always Paramount Pictures Parko Davis Co. Penny JC. Co. Penn. Belt Co. Philip Morris

Procter & Gamble Co.

Pittsburgh Plate Glass Publicker Industries Pure Oll.... Radio Corporation Republie Steel

Reynolds Metal Shell Oil Co. .... Saint Reg. Paper

Sinclair Ou...

Socony Mobilais Solar Aircraft

South Puerto Rico Bugar

Contract No. 4 (world)

The Commodity Credit Cor- poration reported 1030 crop cotton underloan to March 22 totalica 4,080,748 bales.

dandy).

*

*

#

*

July

4.00

September

0.04

October

8.98

March

4.70

100% July

May

4.79

4.00

脓

1214

Spot (cents per ib. tob Cuba 4.12

Open interest: 8,303 contracts.

39

Abouth

Volume

Open interest

113

Contract No. 6 (domestlo)

May

8,300

430,300

May

5.72

July

10.290

180,000

4813

1834

July

Oci,

15,300

175,000

33

Beptember

Dec

13,600

810.300

November

5.50

Mar

7.104..

70.000

30

Spot frenta per lb. c NY

May

5.000

00.400

3014

Ex-duty)

8.70 July

7,400

40,000

醌

Open Interest: 3.400

cia Total

05,400 1,012,000 bales

United Press,

NEW YORK

New York Foreign Prices of cotton futures closed

Exchange

May

today as follows:

Spot

July

New York, Mar. 28. Closing rates were: Canada

October

December

England official

30-day

90-day

Australia

South Africa

$1.04-21/32 44.79

2.78-13/10 2.78-3/16 22344 2.78 2.79%

March

May

July

New Zealand

NEW ORLEANS

+

Nash

famous

2

early next work. Import pensing da exeing

about. A£75 million, dating from April and covering $75 millon and sterling Foods.

The Australlah övers

miell, socórding to the sõürdés, will lix à new Import loensing celling of A£775 million for belfor

oùding June 10, 1958, which shows an Increase of A£80 million over the colling approved; - for the your ending next

June 20.

Corioession of A£75 million will include A2D million of import relaxe- tions granted last January but which have not been used at all by importers. -United Press,

Exchange Rates

Bunnos unofficial

wes dóna in the loc Exchange

kat ไป morning at the following rates:-

1.8. dollar (per 81) Starling notes (per 21) Australian notes, (per 21) Indoek sipials (per 100) sim tical (per 100) Singapore Straits)

PO B•IE

E&A

COMPANIES

A

PENINSULAR & ORIENTAL S.N. GO:

PASSENGER/FREIGHT SERVICE

Lekves Lokom · más könkubbe

Saved

4th April

Outwards

"CORPU"

30th March

"CHUSAN"

QUs May

35.45a 35.31 34,00-07 33.45-47 33.40

*

"CANTON"

21st April

1st June

"CORFU”

20th May

Dis July

*

Via Southampton, Colombo, Pikkbg & Whgapore.

Homewarda

Leaves Hongkong

"CORFU”

3rd April

"CHUSAN”

1216 3907

"CANTON"

"OORFU”

$7.00

Prices of cotion futures closed Others unchanged.-United Press; today as follows:

London Foreign

Exchange

London, Mar. 28.

Closing rates were

New York

Montreal

Amsterdam.

Copenhagen

2.7074-2.78 15/16 2.00 0/10-2.05),

10.05%-10.053 140.70-140.723 19.43-19.43%

117432-11.7434

170175015

Spot

May

July

December

March

May

July

LIVERPOOL

34.00

Cotton future closings, in

pence per ib. were as follows:

Old contact

Mar/Apr.

July/Aug.

averages

Southern National Gas

Bouthern Hallway (Com.) Standard Etunds

28

Brussels ..

$73,01

Standard Oil of Cal

401

Frankfurt

May/June

Milan

8712

Oslo

Oct/Nov.

Parla

2064-0053%

Doc./Jan.

#714

Stockholm

New contract

Zurich

12.231-2227

Mar/Apr.

奶奶

Other unchanged.—United Prem.

MayyJune

20.57

Closing Prices

Alden Ine. hey,

Allied Chemicals

144.43 Standard 051 of Ind.

Standard Oil of NJ.

163.19 Steep flock (Toronto Exge.)

71,38

40 bonda

99.00 Sterling Drug Co.

Comm. future price index.

155.51

Stokely-Van_Camp,

Studebaker-Packard Corp.

Swift & Co.

Texas Co.

Tide Water Asen, Di

# 1714

Twenty Century Fox Film

Union Carbido”........

1415

Union Pacific Railway

Alled Mills Inc.

United Aircraft

U.8, Foll "B"

American Airline

101

Amer, Cable & Radio Corp.

434

U.S. Gypsum

American Cyanamide Co.

7515

Amer.ch. Power

100%

20

5414

178

BOYL

Allis Chalmers

Amer.

American onl

F'dry

American Smelting Ainerican Tel & fel

American Tob. B

Anaconda Copper

Arinio Steel

Armour

Atlas Cons. Mining this Baldwin-Lima-lioni.

Baltimore & Ohio

Business done on the Hong-

Exchange kong Stock morning amounted to ap- Beneficial Fmance proximately $240,000. Noon the morning's quotations and transactions:

Bhares Libyers Gallern, GOVT, LOANS 336 (1988). 0716 BANKS

His Bank INSURANCES Union

Lombard SHIPPING Wheelock

1010

Dio

050

Spot rubber unbeled

8094-0094 76-17 D4-90

0.00 0.70

DOCKS, ETC.

K. Wharf..

Dook XD

33,40

HOC alotel

Blanket crepe

No. 1 pale erepe

LONDON

The rubber market was quiet LAND, 12.

and

featureless with spot at

20% pence per ib. Prices:

No. 1 Ras spot

20%-2014

Settlement nouse term:

May

June July

July/Bept.

April

Jung

3000000

113.70 84.10 1000 63 1390

30 20

100 301

4.03 1,071

100

100

Bendix Aviation Corp. Benguel Cons...

Bethlehem Steel

Boeing Airplane

Borden (The) Co,

Burrough Add Machine

Canadian Pacific R. Camo (J.1.) Co.

Cat. Tractor Ceinners Carp. CIT. Financial_Comp. Chase, Manhat. Bank Chrysler Motors .... Cumax Molybdenum Colgate-Palmolive Oo, Colombian Carbon Co, Commercial Credit Commonwealth floo, Consolidated_Edison Continental Oil of Del. Crown Zellerbach ..

Cuban Amer. Bugar josemonki „Alfa 190 Douglas Aircraft/ Dow Chemicals ..... Dupont de Nembuta Eastern Airine..... Fatman Kodak

X BK Land Humphrey 10.00 10,00 RUBIKER 2011-2016 Amalg ....142.4736 2012-20

UTILITIES 2014-201

From Yeumati,

XD...!!!

Ford Motek C: Light (0) 235 23.50 3000 1300 | General Electric Electrio

General Foods Telephone 24.60 24,70 (3000 0 24.70. | General Motors INDUSTRIALS

General markets, elf basis, ports:

Eatale crepe thin April

Estate crop thick_Apri

AMSTERDAM

283-2535

The rubber market was quiet. Cement

Prices closed today in guilders per kilogram; -of-pilan 101 STOLES, ETC.

ffo. 1 rubber

No.. rubbe

No. #rubber No. 1 orepe

Dadey

8.50 buyers | Lintang Kewo

COTTONS

2.35 buye

3,78 biyen | DIVISI

sited Press.

101

вдо

0.03

100

EPA National Ga FINDSOR, TYTO Rubbler

UB. La Co.

.. Rubber ...

US-Spelting

UA. Steel ...

"Vorner Bros.

Western Union Tel. Co.

West Va. Pulp & Paper Woolworth

—United Prest.

Westinghouse Electric

LONDON, METAL

PRICES

London, Mar, 28, Prices of metals closed today In sterling per long ton as tol- lows:

Tin spot

3-month

Copper spot

3-month Lead 2nd half

Juna Zinc and half Mar June

Buyers Sellers

787

23DEL 240

11214 22332 113

974

„United "Press.

TORIK

NEW YORK METAL FUTURES

New York, Mar. 28. Prices of metal fubires Comed today in bedste per ib, as follows: baad

18.100

Getty Vit

Goodrien (a. İXİ

Goodyear Tyrs

Copp

Gulf ou

Ingersoll-and-

Interchamiani, Corp),

Hevdon. Nev

m 1000 à 8.30 Inland, Steal Co.

(Standard)

10.98-10.98

SOUND ADVICE

for the man with a sense of responsibility

Start a Savings Account this month with

THE CHARTERED BANK (Incorporated in England by Royal Charter in 1858) 3 Queen's Road,

HONG KONG

INTEREST on your money at: 2% per annum, compounded half-yearly. ABSOLUTE SAFETY, for your money.

EASY FACILITIES for lodgments and

5th June

13th July

+

Das Leb

12th May

13th Juná

to ma ADVISIO

Via Singapore, Penang & Colombo. FREIGHT SERVICE

"BINGAPORE”londs 7th Apr.

for 'pore. PL. Bwetten- bam, London. Hamburg. Rotterdam Antwerp GTAKEHOUta

ALL VESSELS OUTWARDS AND, KOMIWARDS WILL PROCEED BY THÌ ch on boot. HOPE UNTIL FURTAKE NOTICE.

1858

· BRITISH INDIA 5.N. CO., LTD.

A HUNDRED YEARS OF SERVICE — LØSE -

WANYUT." đưa 11 VÀ ĐẾN 140 372, ADE.

"SANGOLA” Kuo 6th May

salis 7th May

*ITOLA"

from Japah

for Bingapore, Penang. Hangoon Calcutta

from Calcutta, Rangoon & Strade. JPY Japan

P. DO./B. 1. JOINT SERVICE

Tue 5th kalla 7th Apr.

“IEAUNA" Bue 10th Apr. nația 19th Apr,

"ITRIA"

"OBRA”

que 18th ApT. alls 18 Api. dos 19th Apr. KALLA SUA APT.

from Japan

for Singapore, Penang, Cochin & Bombay

for Smgapore, Bombay. Karachi, Gubin, pomeni, Khorramshahfiz de Kuwakke

from Karachi,, Bombay

'pore tor Japan

from Bombay à Karachi for Japan

EASTERN & AUSTRALIAN S.S, CO.,'!

from Austraile TOT JAMA

T

"EASTERNÝMI, JUL, pan

· "EASTERN" das ein May sail 10th May

from Јерап

107 Labund, Bandakan, Bohayan, Wallace Bay, Tarakan, - Ravauk. Bris

Port Sydney, Serbia, Malbinition Adolake

All viuels båre liberty, to call, at any ports, on or off the route à the route à ̈salling, ars subject to changé ár KhenRARENT.Win de winous hatten,

Ter full particobass apply to:

MACKINNON, MACKENZI" & CH OF HONG KONG LTD Telephone Nos, ZAPA A.