THE CHINA MAIL,
FRIDAY, APRIL 12, 1957.
TRADE and COMMERCE SECTION
CHINA LIGHTS FALL ON
WORLD
RUBBER MARKETS
New York, Apr. 11.
Rex rubber contract closed to-
day
to 2 points lower with
eales of four contracts.
May July
January
32.10
39.20
11.00
Standard contract closed 1 to
10 points lower with no sales,
July
May
September
November
Jamiary
Marsh May
32.10
32.20
20130
31 45
31 32
21.20
31.10
re-
Technical realising and hedge selling after a two-day advance found trade buyers more served, sending the market into steady lower ground after a start. Shipment offerings
re-
mained on the light side and too high to Interest local buyers. Factory demand remained slow.
New Share Issue
'Disappointing'
BLUE CHIPS AT LOW
By A SPECIAL CORRESPONDENT
China Light's announcement of a new issue the Hongkong caused sharp disappointment on Stock Exchange this week. Brokers said this share's fall of 50 cents was indirectly responsible for the depression of virtually the whole utility section.
The reason for the disappointment is not hard to find. The issue is 1,840,000 shares at $5 par at one for five. In other words shareholders have to pay for new shares when for many months
Spot No. Iss was quoted as they have been expecting a bonus issue.
32% cents,
AMSTERDAM
Prices closed today in guilders per kilogram, elf May
lows:
No. 1 rubber
No
2 rubber
No. 4 rubber
No. 1 repr
BINGAPORE
Brokers yesterday the municerent
describe! Brokers consider that there is as "unfor- ja , ibality of an upswing in un Ful-tunately tuned mid two leading prices after Easter.
In the stores section brokers usked wheter the issue | was really necessary
this have been no notable
and in lextiles, Nanyang Cotton- Is five cents cheaper,
24 mon
2 62 J 2 DB
22522
The market opened higher
advices but it better overseas bagged on quiet market with only small buying interest,
The market steadied slightly 'fore. during the unmetal tradux! period today.
were:
N
there changes
in
As far as the share market is concerned it will draw money
when Invest Gas Company Rights away at a time
neat is badly in need of a fillip
the I art feast
Just night 1 runde inquiries Up til Easter, market may be very hill there-
about that intriguing nollee Admittedly, starchontera could the South China Morning Post
to
inserted by Wheelock Marken & Future closings hurdly expect the company
severciaries for the make a bonus issue at a time 150 fotel,
much Hongkong and China where there has been so
Lud. 021-83-1/7, prbleism of the increased sur- 9032-03
charge. 91-91
07-07 112
BU-02
No. 1 rubber per 17
April May
No 2 rubber per th. Apr
No. 3 rubber per i AD No. 4 rubber per ib. Auər.
Bpot rubber úntialed
Blanket crepa
No. 1 crepe
LONDON
Gas Co
20 rufls an extraordinary general meeting on May 6 to resolu- consider the following Bon:
and
Bat broker: point 1 that the main reason for the fall was that seven shareholders hold-
to That the proposed payment Ing big parents had no wish 10-(0)1
pay for new shares at this stage, by the Hongkong
China have das Co Ltd 10 Wheelock Mar More than 37,000 shares
daysden & Co Lid of the sum of changed hands in three which is a fairly large turnover. The Tally
The rubber market was quiet with spot quoted at 27% pece per lb. Prieta:
No. 1 Ras spot....
Settlement nuse term:
May............... June
July/September
October/December
27-2715 273-277 27-271,
27-21 2014-27
January/March General market, eif basis, ports
April
May
Jurie
27-2714 27-2712 37-27
Fatate crepe than May
21
thick May. 31
-United Press.
As the panel shows, most other issues on the market are stendy.
was The inlly for the week Ave higher. 12 steady and seven lower as against nine higher, Ave steady and ten lower the previous week.
Banks have slipped from their
and close $1,050.
In Lon- high
New York Foreign don they are down from £98%
Exchange
New York, Apr. 11.
Closing rates were! Canada
England ontetai
30-daya
90-days
New Zealand
South Africa
Switzerland
Argentina
110
2 78 20 10
2.702
2 78!
27H
2102.
01245
Others changed -- United Pres
London Foreign Exchange
London, Apr, 11.
Closing rates were:
New York
Montreal
Amsterdam
Copenhagen
Frankfuri
Milan
Port
2.7871-270 2.07-78/10-2.00-1/18 10.65%-10.60 10.434-10,454
11.70-1.75
170012-1760%
987-087 12.217-13,277,
Zurich
Others unchanged.United Prers.
to £97. Unións, however, fractionally higher.
are
In the wharf section HK Wharves ex-dividend and Docks China both higher, but arv Providents are 30 cents lower.
Hongkong Hotels are steady and Lande are slightly easier.
* The Share
HK Wharf HK Docks Providunt 118 Hotels KK Lands
HK Really
HK Trama
MARKET
Market At A Glance ★
Mar 21 1800
· 37.60b
Up or
MAR 24
Mar 28
HK Bank Lombard Union
1505
1013
37,50m
37146
Apr 4 1006
18
Apr 11
Down
1050
38
-925
048m
94734b
930b
Wheelock
0.80
12.15
6.70
0.05
6.90
100
1018
101m
0714mxd
45
17
13.10
18,20%
18.201
11.90xd
15.10
14.10xd
11.70b
14.40
14.40
-15 steady +32
4-$2.50 +500 $00 steady
30x
8614
2014
38
1.375
1.875
1.35b
1.85b
3516
1.35
300
steady
82
Sim
R1.90
21.30m
21
135b
185b
1389
1370
130
steady
105b
1990
107
102x0
103
10234m
23.10
22,90
22.00
22.40
21.90
29.00
30
29.70
29.20
20.20
teady
UK Telephone
14.10
24.00
24.70
21.00
76.70
+100
3216
33
3244
3241
steady
Dairy Farm
10.10
16.10
18
10
10.10
15xd
steady
11,80
11.80
11.85
11,70m
11.60m
-100
5.85
6.800
5,85b
5.90
5.Dob
steady
4.75n
4.75%
4.725n
100
0.90b
0.80b
4.7501 6.20
4.725m
4.725n 10b
4.70
4.725a
steady
10b
steady
8.25
8.20
8.20m
4.70m 8.15
teady
50
Star Ferry Yaumakla
Ch Lights Electrica
G.I. Coment
A.B. Watson Yanetazo Allied
IK & FE Inv Textile Corp Nanyang
WALL STREET PAUSES
AFTER
ACTIVE ADVANCE
New York, Apr. 11. Stocks fell back into the pattern of selective trading as investors paused to assess the market in the light of its two-session active advance.
Attention entred chiefly on, Ingersoll-Rand agar stocks, brought into the limelight by activity in world futures markets and heavy sales of raws, particularly to Russia.
By and large, changes were small and mixed with the balance slightly to the down side, re- flecting profit-taking in
recent
Inland Steel Co. Interchemical Corp. Int'l Business Machines
Inti larvester International Nickel International Paper Int'l Tel & T £2,500 in consideration of the
John-Manville Co. surrender by Wheelock Marden
Kennecott Copper Liggett Meyers Tob. Co. & Co Ltd to the Hongkong &
Lockheed Aircraft China Ga Co Ltd of their one
Loews Incorp, half interest in the benefit of
Lone Star Cement Co. Lowenstein & Bons. article eight of an
agreement
McDonnell Aircraft dated July 14, 1862, made be-
Stock ExЯO.) Mesabi Iron Corp. tween William Glen of the first
Minnesota Mining part, Thomas Glen of the second
Aision Development This action part and the Hongkong & China
Chemical Co. Monsanto Gas Co Ltd of the third part, normal follow-up to the upside Montgomery Ward
and the
hereby breakout, touched off by indus-Motorola Inc.
with trials in recent sessions, approved."
According
company the ralis joining in yesterday, 0 spokesman, article eight relates to an option once held by
Industrials Glens to take up a fifth of any new issue the company made at
be
IMIT.
to
same
The Object
the
features.
Chrysler fell nearly a point on in on otherwise profit-taking frm motor group.
was seen as
Off
4
33
CHICAGO GRAIN
Most
MARKET
grain
Gradual Upgrade On New York Cotton Market
New York, Apr. 11.
Light offerings and moderate commission house buying combined today to keep cotton futures on a gradual upgrade from the opening.
New crop deliveries took over market leader- ship, with all. deliveries from December_forward touching new highs for the season.
Closing just under the day's best levels the ŝist ruled off 3 to up 20 points. The market 6 points, opened off i to up New Orleans closed u 17 points,
contracta Hiquidation, hedge salling impeded fullying tendencies in nearby months.
New Orleans interests and Worth Street. Commission Arma also
a. tung frat notice day, and
were buyers in the deferred
Traders
the
found little in the news to excite the demand. Observers coupled it with possiblilties for an increase in the government support base for the now crop, plus the un- expectedly rapid rate of sales under the export programme.
The certificated stock remain- ed at 10,117 balos. were Month
July
October
Chicago, Apr. 11. futures steady to slightly higher on the May Board of Trade today.
Wheat declined in early trade December
March after the government report on
was July winter wheat production
May
considered slightly high. Selling Total diminished later and the market
Spot May
October December
March
May
July
Cotton
35,651
LIVERPOOL
future closings, penso per lb. were as follows: bid contract May/June
July/August
October/November
December/January March/April May/June
New contract May/June: July/Aug
- October/November December/January March/Apri May/June
0.34
In
SAO PAULO Cotton future closings, in cruzeiros per kilo were follows:
Volume Open Interest July
$120
30120
20.50
In the US the average price
3,000
267.900
October
2,700 – 180,000
December
7,600
188,000
Manch
d 800
163.300
31,400
50,000
of
One
4,600
02,200
·
inch cotton at 14
markola: designated · spot
was
34 300
997,000 balas
89.80 cents,
NEW YORK **
1.800 81,300
rallied with nearby contracts Prices of cotton future, closed rising slightly above yesterday's today as follows: clase.
Wheat closed up 1⁄2 to 1 cent;
Prices per bushel in cents:
*
*
Sales totallod 70,148 bales. Now Ortours prióta were un- avallable.—United Press.
POBIEA
COMPANIES
па
78
and
Rye
nood soybeans moved allghtly higher. Boybeans started fairly active. There was some mid-morning short covering 48% beans
+
in
offering! became
030
3016 1075L
lighter.
100 Boy beans closed
up % to 1%
*
AD
cent
1102
65 Wheat No. 2; red
Spot
34
10
Beptember
2241in May 225(H)_223%1⁄2 (L) 225-22535 July
2157-44 2154-16
(Amer.
December
41
374Corn, No. 2,.ellow
Spat
07
May
34
July
371
120
December
Reg.A National Cas National Dairy Prod.
ASIA
· January
Ryo
National Lead
210
May
National Steel Corp.
0314
July
1524% 129-128
*CHUSAN”
New York Central
20
Oats
Olin Mathieson
40
May
4314
July
72-731 0716-45
"OANTON"
"OORFU
Owen-Illinois Glos Partric Gas & Blec.
516 Soybeans, No. 2, yellow
1-
40
Spot
1834
May
26336-48
331
July
515%
Explember
2304
Homewards
November
220
Jakary
230
"CHUBAN"
70
476 Barley,
"CANTON"
Spot
130-140
B New York flour
"OORFU"
200 1b, mach
913.20n
-United Fresa.
Oli Elevators
Industrials stocks, as measured
Pan American Airways by the Dow-Jones
average Paramount Pictures closed at 484.70, of 47 point; Parke Davis Co. ralls 147.11, of.27, utilities Fanny J. C. Co.
Penn. Salil C). That right persisted until 71.50, up 14 and 03 stocks Philip Morri
Procter & Gamble' Co. a spokesman for Whee-170.80, off .09.
Pittsburgh Plate Ola
the titles section, Trams, Star Ferry and Electric are 1954,"
Pump Oll
steady, Telephones are still in Jock Marten sald last night, Tho utility gain reflected | Putalicker Industries fair demand and close 10 cents "The persons then entitled to chiefly strength in Peopics Gas higher but Yaumati and Lights half of the rights sold them to are lower.
Investment Buyers
Itrokers feel that Blue prices are at or near bottom" and at current must appear attractive vestment buyers.
Some yields
are
Chip "rock yields in-
the company and we bought the other half.'
which climbed 2% to $184.
Ralls were narrow. Activity, while down from The present position was that the company held half the right yesterday's 2,920,000-share turn-
the which was
year's and the syndicate which owns the
heaviest, was briak at 2,350,000 of the Gas company shares for the sessiort. majority
other half-or an shores the option to one-tenth of any new
Of a total 1,142 issues traded, 406 were higher, 412 lower, 205 Hongkong The object of the resolution unchanged with 75 at new highs,
is to extinguish the syndicale's 14 ut new lows, option by selling 1 to the Gas company for £2,500 ($40,000).
10
Trams, 8.6 per cent, Stor Ferry, Ferry, 6.62 per cent. Yaumati 7.3 per cent, China Light, & per cent, Electric, 0.25 per cent and Telephone, 0.07 per cent.
MORE & MORE PEOPLE
PRODUCING
TIN in MALAYA PYRITES in CYPRUS CLOVES in ZANZIBAR MOLASSES in TRINIDAD RICE in BRITISH GUIANA WOOL in NEW ZEALAND PETROLEUM in VENEZUELA MAIZE in NORTHERN RHODESIA as well as many products in other areas of the world are opening
6%
Milaimum Deposit₤100
BANK DEPOSIT ACCOUNTS
Band today for "Bank Deposit Account" Booklet No. AO. 1 from General Manager
LOMBARD BANKING
LIMITED BANKERS
Hand Office: LOMBARD HOURE, CUAZON STREET- PARK LANE, LONDON, W.,
GRO 4111 (30 lines) Branches erud Agents throughout, thu', Wwell. S
issue made.
Slight Improvement
D
Here is an Ice House Street observer's account of the market:
Although there has been slight improvement in the turn-
$3.4 over which amounted to million as compared with the previous week's total of $2.3 million.
There arc with signs of any sustained buying
no
energy.
The undertone has been fairly steady throughout the week and
show prices generally
Fractions!
only
uro-
China
changes either way, The announcement of a posed new issus by the
Company of Light and Power one now share for every five not held at $5 per share enthusiastically received on the market judging by the immediate drop of 50 centa in the price.
efforts failed Recovery materialise and the shares closed Around 133.
Electrics, which have also beon under a cloud recently, maintained their price at $20.10 Whee. In light scale trading. locks
ما
were more active than of late and tacked QIL gaine amounting to 25 cents.
well
Telephones were again supported and closed 10 cente higher.
Market Diary
Here is a market diary of the week: Friday:
Fair⠀ scale in
NY Stock Exchange bond volume was $4,450,000.
American Block
Exchange volume was 880,000 shares,
Closing Prices
Alden Inc. Agy. Aliled Chemicals Allied Mills Inc.
Allla Chaimers ...
Radio Corporation Hepublic Steel feynolds Metal Shell Oll Co. Saint Reg. Paper Sinclair L Bocony Mobil11 Solar Aircraft South Puerto Rico Sugar Southern National Cas Southern Railway (Com.) Standarda Brands Standard Oll of Co Standard Oli of N Standard of Ind
Steep Rock Toronto Exze.) Sterling Drug Co. Stokely-Van Camp,
Studebaker-Packard Corp. Swift & Co.
Техая Се.
Tide Water A. Oli Twenty Century Fox Film Union Carbide
Union Poolfle Railway
United Aircraft
U.S. Foi "B"
О.Н. Сурашт
$17.9. Line Co.
U.S. Rubber
U.S. Smelting
U.S. Steel...
39% | Wamer Bros.
87
20
American Airline
Amer. Cable & Radio Corp..
American Cyanamide Co.
77
Amer, de Forgn Power
2515
Amer. Mach. de P'dry. American Metal
American Spielting Amer, Sugar Ret. American Tel A; Tel American Tob. "B" Anaconda Copper Armes Steel Armcur
Atlas Cong. Mining Baliwin-Lima-llam. Baltimora de Chio Beneficial Finance Bendix Aviation Corp. Henguat Cona
Bethlehem Steel Boeing Airplane
Borden. (The) Co.
Burroughs Ado Machine ... Canadian Pacific R.
Село (3. 1.) Со
Cat Tractor ... Celanese Corp.
C. I. T. Financial Corp. Chase Manhat Dapk Chrysler Motors Climax Molybdenarn
Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit
Consolidated. Continental Oil of Del. Crown Zellerbachi Cuban Amer. Bugar Diamond Alkal Douglas Aircraft.
Dow Chemicida Dupont de' Nemours hoffertem Airline T/O:stman Kodak
Paso Nations:"Glas Family Financn: Corp. Qulet note with Firestane Tyre & Rub light trading. T/O: Ford Motor
General $310,000.
day trading. $310,000,000
Monday:
Tuesday:
Briak trading. T/O: General $1.1 million.
Wednesday! Qufqtly, stondy.
/0: $440,000 Thursday: Movement, few and
3987,000
Westinghouse Electric
Western Union Tel. Co. West Va. Palp & Paper Woolworths
401%
783
2014 42
45%
United Press.
Trade Figures Fail
To Rouse London. Market
New York Sugar Market
New York, Apr. 11. World No. 4 sugar futures closed today 15 to 35 points higher with sales of 1,883 con- tracts.
Domestic No. 6 sugar futures closed 3 to 6 points higher with sales of 483 contracts,"
Activity and strength in the world contract reflected general trade and speculative covering with
of news
large-scale of Cuban Russian purchases Ibws and that the Soviet wo inquiring for additional ummounta.
large
The volume of sales at 1,883 contracts' was the largest for uny day since into February and compared with the record furnover of 2,394 contracts re- ported an Feb, 0,
The 1937 Cuban crop is ex- pested to reach 6,380,684 Spanish long tons, according to Galbo
Trading Lobo
Company
nt
leading sugar firm. The estimate Was based on curvey of milla made by the firm throughout the island. The 1937 crop had been officially
decreed 5,150,000 long tans," but because of Increased demand the restric- tion was litted. In 1950, under restricted production, the crop London, Apr. 11. totalled 4,000,000 long toms, Stocks noved In routine ir Contract No. 4 (wprid) regularity on reduced turnover May today.
030
6.30-30
CAS-00 041
495
4.42-13
45
44
40
Encouraging March irada October figures and the optimism of the
the President of
Board of July Trade
trade regarding the cutlook, failed to rouse hand,
July Beptember
March
do
aplicants per lb. fob
Cuba)
Open interest; 9,819 contredia
Contract. No, 0° (domestio)
0.60
Landing industrials moved a
bit few pence either way with May July
Automatic Telephone
* 100
a feature September
6 shillings risp cn Its November
Spot-(cents per, ib. cif
"NY ex-duty)
dividend increase, de
Among pils, Shell Transport Open Interest:: 3290 was marked up 6 stilllings on United Fres, Its good earnings report but and shillings
Royal Dutch 1002
others were narrow either way; 4.
Suez Canal Improved a bit,
Brillas Governments
ents drifted
6,70
contracts.
NAMESAKES
Answers-1 Puppet, 2 Enter
off 15 test 16 blorling Foreign tains, 3 Dianay, Wooden,
bonds were late. · Dollar Blocke Carving, 6. Circus Erisanıza,
largely inactivo although higher | Marionette, 9. Nose, where changed. Undled ProJB;
Pinocchio
*
+
PENINSULAR & ORIENTAL S.N, CO.
PASSENGER/FREIGHT SERVICE
Outwards
Leaves London Due Hongkong
Silled
7th May
Risk Apri
Jet June
2011 May
9th July
Via Southampton, Colombo, Penang & fingapore.
Leaves Mongkong
Das London
19th May
17th June
8th June
>
TO: BE ADVISED
13th July
Via Singapore, Penang & Colombo, FREIGHT SERVICE
"SUBAT"
"SUBAT"
duc Tat May
-loade 9th May
from UK.
for Spore. PL. Sweṭtea-* ham, London, tamburg, Holterdam, Antwerp Grangemouth.
ALL VESSELS QUTWARDS AND HOMEWARDS WILL PROCEED BY THE CAFE OF GOOD HOPE UNTIL FURTHER NOTICE.
BRITISH INDIA S.N, CO., LTD.
1858 A HUNDRED VIARS OF SERVICE --- 1968 “SANTIILA” dus 16th Apr.
galla 17th, Apr.
"SANGOLA” dus' Bih May
Kalla otti May
from Jepan for Singapore, Penang. Hangoon & Calcutta
from Calcutta, Ijangoon
for Japan
P.&O./B. 1. JOINT SERVICE
"IKAUNA” die 13th Apr,
"ITRIA"
"OBRA"
REN 14th Apr.
due 10th Apr.
salls 17th ApI.
dus 18th Apr. salia 20th ADT.
"ISMAILA" 'des 21st ADT,
salis zord Apr.
for Singapore, Bombay, Karachi, Dubia, Basrah, - Khorramabahr de Kuwait-i
from Karachi, Bomber & B'pore FOR JADAG
from Bombay & Herschi for Japan
from Japan
for singapore, Petan Cochin Bombay Karachi
EASTERN & AUSTRALIAN S.S, CO., LTD. "EASTFEN" dae 13th Apr.
wils 15th ADI.
`malis 10th May
from Australia for Juda
from Japani ·
for Labuar, Sanda Bohayan, Wallace / Bay, Tarakan, Rabail, Bria- bane, Sydney, Port Kombia, Melbourne Be Adelaide,
Alt vormis have therty to call at any ports on or off the route à "the route à miting are målret to change or amendment with or without notice.
For full particulars apply to:
MACKINNON, MACKENZIE & C..
OF HONG KONG LTD. Telephone Nos: 271914,
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