1957-05-17 — Page 9

Page

THE CHINA MAIL, FRIDAY, MAY 17, 1957.

Pago g

TRADE and COMMERCE SECTION

Continued Progress On Market COTTON FUTURES New York Sugar

UTILITIES LEAD AS MAJORITY OF SHARES GAIN

By A SPECIAL CORRESPONDENT The Hongkong Stock

perienced another

Markot

week of continued

* The Share Market At A Glance ★

lik Bank Lombard

Inion

+

34,40

.

Up or Down

IRREGULAR

IN NEW YORK

New York, May 16.

Cotton futures today turned irregular after small opening gains lifted the nearby July con- tract to a new seasonal high.

At the close the Hat ruled unchanged to 9 points lower. The market opened up 1 to 7 points." Now Orleans closed off 2 to 10 points.

Apr 11

Apr 23

May B

May 9

1050

1005

1450m

1050

May 10 1048

B

$1146

Job

950b

0100

paob

186 040xd

19

+91

B10

Wheelock

€,00

7.800

7.38

17.85

2.40

150

IIK Wharf

0714mxd

107

110

109

10816m

500

JK Docks

45

4416

48

4.5

steady

Provident

11.00xd

13.30

12.40

13.

13.20

+200

HK Hotels

14.80

13.20

18.40

16.70

--300

HK Lands

3014

3014

3534

24M

$0

+123

OX-

HK Really

1.35

1.40

1.40

1.15

1

+30

HIK Tram

21%

*#13

21.60

29

22.70

+700

137€

150

150%

1850

1150

steady

10244m 103

102

108

105

4-83

21.00

29.20

18.40xa

20.

18.40

18.49

1014

+$1,10

20.40

20.40

3014

+750

24.10

24.70

26.30

25.70

20.60

+900

324

32

324

#K

J

3314

+$1

15xd

14,50

14,60

24.90

14.90

+100

11.00m

11.00

11.00

11.00

12

+10c

5.90b 4.725n

сь

ob

0.10

04

+150

4.00

4.00m

4.50m

4,466

steady

Covering in the spot July delivery wig attributed ΣΟ

10b

10.20

10b

10.20b

10.200

steady

4,70m B.15

4.85m

4.05

4.60b

431

+150

8.10m

6.05

8.10

B

--100

progress with the gains by utilities leading. the rise of the majority of shares.

Shortage of scrip, coupled with the demand for utility shares, has caused the rise in this section.

WORLD RUBBER MARKETS

New York, May 10. Rex rubber contract closed today 25 to 60 points higher with sales of 80 contracto.

May

July

Bepl

Nov.

Jan.

Mpr. Moy

32.40

4.50

31

31.50

31.30

3140

30.00

Standard contract closed 25 to 00 points higher with no sales reported.

May

July

Sept

Nov.

Jan.

Mar.

May

32.40

32.10

3100

31.50

31.30

31.10 30.00

The turnover for the week $4.00 militon compared with $4.15 million the previous weekt, Tally for the week was 15 higher, four unchanged, and live lower compared with the previous week's tally of 111

nine higher,

unchanged and

four lower,

Leading the gainers in utilities) were Yaumat's with a rise of $3 closing at $105. China Lights closed at $10.50, gaining $1.10 the week. Telephones aver gained 50 conts closing at $20.00; Elcetries gained 75 cents closing at $30,25; and Tranis gained 70 conta closing at $22.70.

Cements

ان

Cements shares, which have been slightly undervalued late, tucked $1 on during the week to close at $33.

un-

Lands are finding their own feet again after being necessarily depressed. They

still closed at a low quote of $36, nevertheless this was a rise of $1.25 on the week.

Higher London cables and a Banks and Unions are st limited supply of high-priced lagging behind following their shipment offerings, plus low prices on tho London estimates Market, Banks lost 21 during optimistle production from

all the week in London, giving a the auto industry, combined to put prices on an quote of £94, while Unions were quoted at £58% on the upgrade. A good part of the

London Exchange. trading was represented intro-dealer switching of July/ Sept at 30 points and Sept/Jan. nt 45 points.

ת

in

con- Brokura with London ncolioris also were identified in

Sept/Jan. પાદ

swaps. Trade sources estimated US auto

pro.. duction this

127,270 week at

passenger cars, up 1.1 per cent from last week and the highest output in four weeks. Id the market, brokers re- shipment

ufferings of ported Indonesian

umbers,

cents with and freight, at /June, cost

Singapore

offering the same included

Krade at 2B 4 cents. Thalland ellerings three sheets at 314 cents; four sheets at 30 and five shoots at 284 cents, all cost and freight, Muy/June. Locally spot No. 1 Ites was quoted at 321⁄2 cents.

SINGAPORE

The market opened lower of and later 1 overslag advices, advanced on short covering with sellers reserved,

There was a little factory de- mand, and there was some talk in the market of enquiries for Red China but there was no actual business reported.

Future:

No. 1 rebber par .

JEDNO Juty

01-01%

No. rubber per b. June Duff-901 No. 3 rubber per. Ib. JuNA DUP-807% bio. 4 rubber per 1. June Ba-87 Spot rubber unbaled

017-8144 BO-OT

Elanke! crepe... No. 1 pale crepe........ 90-100

LONDON

The rubber market was quiet with spot unchanged at 36-18/16 pence per lb. Pricts:

Bettlement house term:

Ott/Dec.

2016-27

In

the store section, both Dairy Farm and Watson tacked on gains of 10 and 40 cents respectively over the week.

The Rubber Trust Limited nnounced a profit of $599,836 for the year 1056,

Chief Interest

Flere is an Ice House Street observer's account

the of market:

There was a continuation of the better sentiment which was in

the Evidence during previous week with the result that the majority of prices have made appreciable gains during the week under review.

Chief interest has been contred in the utility scotion which has been active with demand welj· spread. Telo- phones Yaumatis, Elcotrica and Chias Lights were all well supported,

Elsewhere, Lands, Realties, Cements, fotels and Watsons have also malo useful gains.

Banks and Unions were somewhat dull. Rubbers wero quiet and about unchanged.

The underlong has been steady throughout with most rainers closing of the bes

levels.

The overall turnover amounted to $4,688,000.

Market Diary

Siar Ferry

Taumatis

Ch Lights

Electrica

HIK Telephone

G.I. Coment

Dairy Farm

A.S. Watson Yangiszo Allied

NK & FE Inv Textile Corp Nanyang

Industrials Up HONGKONG

To New Highs

On Wall Street

STOCK

EXCHANGE

The far-forward October delivery became relatively easy In face of uncertainties over fate of the soll bank pro- gramme for next year and pending further Washington developments on farm legisln- tion, especially in relation cotion price supports,

to

SCRAMBLE FOR

OIL SHARES

IN LONDON

scramblu for all shares.

Market

New York, May 10. World No, 4 sugar, futures today

closed unchanged to

J

11 points lower with sales of 1,274 contracts,

Domestic No. 8 sugar futures closed unchanged to 3 points higher with sales of 118 con-

tracts

Bellatry by recent buyers

and increased bedre selling put

the world contract on a retreat, although the raw market main- tuined a steady toño,

Dealers understood France is scheduled to enter the muricot next week, for 19,000 Loss. Other reports suggested that Chile also was interested in a rubstantial quantity of raws.

Contract No. (world)

July

8.87

September

13.0-15T

October

6.68

March

Moy

4.35

July

4.30

Spot-cents per lb, tob Cuba) 530

Open Intercet: 8,027 cmiracta.

Contract No. 6 (domestle)

ба

0.94

September November March

London, May 16. dornestic mills, and pointed up Prices on the stock exchange | July reports of an improving inquiry | today was featured by 3 in the textlic market, wherd substantial sales were reported Interest in oil shares was in-spot-cents per lb. cif NY consumed recently

by the ending of the print spired

Canal blockade, Royal united Press.

an

cloths for delivery through the fourth and first quarters of next yoor.

Dutch Jumped 7 shillings" 6 pence, and British Patroleum 8

ex-duty). Opan intercal: 2,264 contracta

shillings, both to now highs LONDON METAL

Other oils moved up frum 2 10

Loan entries for the week ended on May 10 totalled 12,194 3 shittings. balca while withdrawals amount- Industriels went Through 1

ed to 23,010 bales. The net stock | rather routine session with prices of 1958 crop cotton under loanfirm. Rolls-Royce gained 2 ̊shil- totalled 3,089,257 bale.

lings to approach its high, widle

The Agriculture Department Woolworth' added a shilling to has announced it will läke over, reach a new peak. at the close of business on July British Government boods 31, all 1050 cotton under loan were marked down about £%. and unredeemed at that time. Foreign dollar bonds were dull, Tho certificated stock reas were the dollar stocks wheré mained at 11,975 bales.

the premium remained น - Volume Open Interest changed at D per cent.-Untied

Month

May

Our Own Correspondent

July Dusiness done on the Hong- October kong Stock Exchange tis December

March moming amounted to approxi- Ma mately $781,000. Noon quota- July

October morning's trans- ions and the

actions:

New York, May 16. Sparked by individual gains running to more than 10 points in volatile Lukens Steel, industrial stocks rose to new highs since carly last September. Market experts were cheered by the fact that the lagging rails finally got up a head of steam and Bank began moving. The feeling in some quarters now is that the market may make a new assault on the all-time highs set last June G.

Steels, oils, chemicals and air-1 Crown Zelterbach crafts all supplied push to Hic Cuban Amer. Bugar

Diamond kall rise in the Industrials, There Douglas Aircraft were a number of wide movers Dow Chemisi

the session turned into 05 joyous one for the bulls,

Dupont de Nemour Eastern Airling .... Eastman Kodakt

El Paso National Que The olls moved higher into Family Finance Corp.

Tiresme Tyre & Rubber after 17 major oll produers an-

Ford Motor nounced in London plans 10 General Electrio build a pipeline circumventing General Fooda the Suez Canal, Shell Oil up General Motors Gen. Pub. t. 21% and Mission 24. Amerado | Getty ou climbed 2%. Gulf addeų 1. Glidden Ch.

Goodrich BP.) Cu. Goodyear Tyre Gulf O

Optimistic

The whole market was buoyed by the steadily increasing flow of optimistic economic forecasts. The concengus is that the reonomy will hold around 119 present high level for a while and then inove higher.

30%

Eart Aula ..

INSULANCES

Union

00% Humplaneya

Total

1,900

0,100 104200

7,000

172,000

102200

170300

4260

101,900

4,900

100,000

3.700 58.200

4,500 £3,000

$3,500

NEW YORK

040,800 balen

Prices of cotton futures closed

Press.

*

36.35

25.06

33.86

33.38

33.94

33.90

31.18

31.57-8!

*

NEW ORLEANS Prices of cotton futures closed today as follows:

LIVERPOOL

pence per lb. were as follows:

PRICES

London, May 10, Prices of metals closed today

In sterling per long ton ast follower:

Tin кров

3-month

Соррет вре

3-month

Buyers Beliers

304

100

761

330

Lead and half May D

Lend 2nd

half Aug

Zine 2nd half May

Zinc 2nd half

Preves

P2O B•I

B∙I│E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Leaves London

Kailed 14

Due Hongkong

But

y

Ein May

15 July fyla Sex)

3rd July

2001

July

TO BE ADVISKA

Via Southampton, Columbo, Petang & Slugapore.

Uue London

abarcs

BANKS

Buyer Sellers

Sales

today as follows:

4040 1065 20 1045

200

Spot

July

Okt.

DUA

0405215

Doo,

Lombard ...

Mar

May

9716

SHIPPING Wheelock.

July

11.35

7.48

2000 @ 740

Qot.

DOCKS, ETC.

K, what.. Dock

107

200

4431

100 @ 45

500 68 46

201

Provident..

130 150 2000 ở là 20

Sput

DTI

500 29.20

Jity

Oct.

30

2412

LAND, ETC.

Dec

HK Hotel.

168.00

1000 10.00

Moc

Uutwards "CANTON"

Land

30+ 1310.1 1.30

10.40 16.50 1000 $14,30

0 1 20

Muy

711

July

Oct.

33.18 33.05

"CORFU**

"CALTHAGE"

1500 à 15.40

2000 10.50

"CANTON"

Realty 1.4734° 1,50

Cotton future closings,

in

UTILITIES

サイ

1471%

Homestaka Mining Co.

*TTAI

22.80 2120 2100 23,80

104 106 Yaumati

341103 100 105 CLARGE (0) 18.40 18.00 4000 101

(R.) 13.40

Old contract

May/June

July/August

20.30 20,43

Hotnewards

"CANTON"

October/November

20.20-27 27

"CORFU

Ingersoll-Rand

Elecüla ...*** 30%

g000 3055

20.23-20

CARTHAGE"

13

Macao E. ... 01 Telephone 28.00

30

100

314| INDUSTRIALS

มา Cement

33% 13.50 STORES, ETC. 4612 Dairy 14.90

34 1000 £ 33

10

10 1000 1400

400 F 15

lows:

July

33

500 14.30

October

(Ain.

10% Watson ... 11.00 37% COTTONS

JE 2000 13

December

March

May

Taxtile... MISCELLANEOUS

4.70 4.75

Entert

18

Allled

4.40

I.K. & F.. Invest

10.20

Heyden Newport Corp.

eland Steel Co. interchemical Corn, Int'l Business Machine inti Harvester international Nickel international Paper in 201 & fol John-Manville Co Kansas C. Power & Light Kennecoti Copper Liggett Meyers Tob. Co The most active issues were Lockheed Aircraft Benguet, Hupp, Bethlehem Low Incorp. Steel, Lukona BDd Oline Star Comment Co.

Lowenstein & Sons, Mathieson,

McDonnell~Aircráti

Block Exge.) closing Mesab! Iron Corp.

Minnesota Mining

The Dow-Jones

nycroges showed industrials Mission, Development up 2.86 at 504.04-a new high Monsanto Chemical Co.

ince Sept. 10, 1000; ralls up Montgomery Ward 1.36 to 147.49; utilities up 8.22 Motorola Inc.

National Cashi Beg. “A at 74.00, and 85 stocks up 1.08 National Dairy Prod. at 176.17also the best since National Lead

National Steel Corp. Sept 10 last year. Sales totalled New York Central 2,080,000 shares against 2,390,000 lin shares yesterday.

Of the 1.151 Issues traded to- day, 521 advanced, 381 deelined and 209 were unchanged. New highs were set by 68 stocks and

Here is a market diary of the new lows by 25,

week: Friday: Interest well spread. T/O: $1,- 374,000, Fractional

T/C: $710,000. Remained T/O: $258,000.

gains.

slendy.

Monday:

Tuesday:

Wednesday: Ruled steady

No. 1 Ras spot

Juna

July/Sept,

Jan/Mar

April/June

* General markets, olf bazİZ

May

Thursday

Juno

July

Petalo crepe thin June

Estato

ly

пере thick June 3 AMSTERDAM

The rubber market was quiet-

steady. Prices closed in guilders per kilogram, cif June De follows:

No. 1 rubber

No. 1 rubler

No, 3 rubber

No. 1 crepe

throughout, T/OI $551,009,-

No material change, T/O: $1,075,000.

London Foreign Exchange

2.7036-2.70.15/10

Ota Elevalun

Owen-Minola Glass Pacle Gas & Elec. Pan American Airways Paramount Pictures Parke Davis Co. Penny J. C. Co Penn. Salt Co. Philip Morris

Procter & Gamble Ca,

NY Stock Exchange bond Pittsburgh Plete Olas

volume was $3,500,000.

American Stock Exchango volume was 1,380,000 shares.

Closing Prices

Alden Inc. Acy.....

Allied Chemicals Allied Müls Inc. All Chaliners American Airline American Cable

Cory.

Pawzcan Cyananide Co.

Foren Power Am. Mach. & Fdry. American Metal ......... American Emelding Am. Sugar Raf, American Tal

American Tob. "I"

Anaconda Copper

2.08.7/16-2.069/10 | Armco Bletí ........

London, May 10. Closing rates were: New York 2.02 buyers Montreal 2.00 nom. Amsterdam

Zetmeli 2.58 nom 3.01 buyers Frankfurt

United Press.

New York Foreign Exchange

New York, May 10.

Closing rate were:

Canada England

H

Bouth

Labor

10.034-10.05) 140.70-260.75"

11733-11.73% 09.05.00.10

1158.17589 39.0044-20.00

Ozio Paria Stockhola Vicha Zuek

Qthane unotsenged/wilęlind Prem.

FILIO HERST-LI

Exchange Rates

Arinour

Atlas Cona Mining Baldwin-Lima-Haru,

Haitimore & Ohio

Beneficial Finance Dendix Aviation Corp

Benguet Cona.

nethlehem Steel

Doving Airpalato Borden (The) Co

Burrough Adki, Machtra Canadian Photo it. 4. Case (J. 1) Co.

CAT, TYREUDr

Clines Corgi

C. L. Boconá Corp.

Chase Manhat, Berik Chrysler Motorm **** Cimex Molybdenum 4.30 Opinto-Patinalive Co.

Celemben Carbon 99. Commercial Condis Commonwealth Kinc. Consolidated Bidason ... Contact Ol of Del

Business was done in the local 1,06-31/39 | 1pionirel axchange market

this morning at the following estos: 292-11/16| 18. doine (per 311 and

*-1/13 Sterling noten "(per (61)

„Aumtesian, notes (per 41). Indracsien supiah (per 1993. Salgazare - (Diskakte)

Press

· Publieker Industriou Pure O**** Radio Corporation Republic Step! Reynolds Metal Bhall Out Co.

Saint Rég, Paper Sinclair Oli

Socony Mobilit

Solar Aircraft

South Puerto Rico Sugar

Bouthern National Clar

Bauern Nallway (Com,3

Viji i standart Branda

29

Blandard Oil of Ca)

35) | Standard Oil of Ind

1815 | Biandard Oil of H-J

Sleep Rock (Toronto Exge.

Sterling Drug Co.

Stokely-Van_Camp.

Studebaker-Packard Corp.

2016 Swift & q.

Texas Co.

4

81

16

201x

1785

Union Carbide ......................

*

00%

Union Pacific Railway

Tide Water Asm. Oif

Twenty Contury Fox Film

United Aircraft

3. dypum

TUS. Line Co.

151

49

US. Rubber

Smelting

US. Steel

The Warner Bros

Westinghouse Elec

4931 Western Union Tel. Co

Werl Va. Pulp & Paper dőty | Woolworth

110 Rope

United Press.

NAMESAKES

Answer:-1 Friends, 2 Strings,

3 Baton. 4 Count. D. Pissiqato, d Lungenkmurg Tunes, B OT. chwein,-8 Curtain, 19 Morry,

Frate Ember.

Nahyang...

400 kr 3015

27 2000 € 20.00

.200 @ 27 1500 @ 20.00

400 37

December/January March/April

New contract May/June

July/August

October/November Pecember/January

March/Aprit

SAO PAULO

closings, in cruzeiros per kilo were as fol-

Н 8.13 2000

11.00

400 ở 1B

500 @ 4418

Cotton future

38.70

40.40

40.00

41.43

40.10

the In the United States, average price of one-inch cat- ton at 14 designated spot mar- kets was 83.06 ccrts.

Total sales at these markets was 22,683 bases.---Ünited Press.

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 Rond, HONG KONG

• INTEREST on your money at 2% per annum, compounded half-yearly.

• ABSOLUTE SAFETY for your money.

• EASY FACILITIES for lodgments and. withdrawals.

Leaves Hongkong

June

TO DK

ADVIED

"CANTON"

13 July

10 August

13th September

Via Singapore, Penang, Colombo & Aden,

FREIGHT SERVICE

1036 28th May

for S'pore, Pt. Swellen- Penang. han,

Aden. Havre, London, tint burg, Rotterdam. Ant- werp & Orangemüoth

from U.K. (Via Suez)

from UK. (via #uez)

"BURAT"

2

"SHILLONG" due 20th: June

dn. "SUNDA"

4th July

BRITISH INDIA S.N. CO., LTD.

1858 A HUNDRED YEARS OF SERVICE - 1930 "FULTALA" in Port

salls 10th May "WARORA” dus 21st May

walls 22nd May

"SANGOLA" due 20th May salts 27th May

from Chittagong, Ran Roon & Singapore

IDr Japan

from Japa

for Singapore, Penang. Ilgadoon,

Calcutta

СМАКОТА

from Japari for Singapore, Penang. Itangoon de Cileutis

· P. & 0./8, 1. JOINT SERVICE

"TTRIA"

"DERA"

In Port falls 10th May

due 2nd May salis 24th May

· KUMARIA” due 25th May

sa 611 May

"URLANA" de 8th June

watts Bin June

from Japan

[or Singapore. Bombay Karachi, Baaral, Hhoz ramshatir & Kuwait

from Japan for Singapuh, Khor-

Bombay, Karachi, ramhane & Huwali

from Bombay, Cochin, B O'pore tor Japan.

from Karachi, Bombay, Cochin & Bingebore ter Japan

EASTERN & AUSTRALIAN S.S. CO., LTD.

"NELLORE doo th June "ABAFURA"salis 10th Jun

from Australia

for Labuan, Sandakan, Itabaul. Brisbane, Syd- ney

Melbourne Adelaide.

All vessels have liberty to call at any ports on ar off the route & ike zonja, de axlilogu are subject to change or amendment wild or without notice.

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