1957-05-24 — Page 9

Page

THE CHINA MAIL, ‹ FRIDAY, MAY 24, 1957.

TRADE

and

t

COMMERCE SECTION

TELEPHONES BEST PERFORMERS COTTON FUTURES

Practically No * The

Fluctuations In Quiet Week

By A SPECIAL CORRESPONDENT

The Hongkong Stock Exchange closed on a steady note yesterday with practically no fluctuations except in telephones during the week,

There was, however, slight profit-taking on Tuesday but this fizzled out quickly and since then the market has been quiet,

Le

The turnover for

week | $22.00. Other stocks in this was $3.08 million, just under action had negligible lomes.

Lack of interest in Banks and milion less than the previous work. The tally Was peven Unions during the weeks left

two higher, six unchanged and eleven these

stocks unchanged lower, compared

with 15 from last wook. higher, four unchanged and ve lower the previous week.

Telephones

wore the

best

Slight Recession

Kainers of the work closing on Here is an Ice House Struct

a quote of $27.10, an increase of | observer's account of The 80 cents. The re phones, according to

tete- market: brokers

yesterday, may be due to an offer to sell Oriental Telephone and Electric Company in Lon dion,

Gather Strength

a

Oriental Telephone__own block of Hongkong Telephone shores and if the company is sold the stock might be put on Hongkong Market. the

11, however, the shares never reach the open market, it is expected continue to telephones will

gather strength.

The Stock Market opened note tho week on a steady with signs of continuing its recent progress but some light Reale profll-taking on Tueejay virtokėd the advance дий raused a slight recession In urices.

Utilities, which lud

been

LIK Bank Lombard Union Wheelock HIK Wharf IIK Docks Provident HK Hotels

་་་་་་་་་་

Share Market At A Glance ★

UP OF

Apr 28 1805

May 2 1050m

May 9 1660

May 10

May 23..

Don

1046

1045

steady

374b 0706

X5b

331

30

370

940x

930

#30

bendy

7.40b

7,35

• 7.55

7.40

1.45

103

110

100

1081⁄2m

107m

$1.60

4434

45

45

440

12.30

12.40

13

13.20

13,15m

--500 -50

14.80

15.20

15.40

15.70

18.50

---103

381%

3424

36

30m

1.40

1.40

1.45

114

1.476

2114

21,40

22

22.70

20.00

+250 -240 +200

130

1300

135n

185m

1311

103

102

102

103

104

18.40xa

18.40

18.40

1914

19.40

-100

29

£0.40

29.40

304

8034

stody

24.70

25.10

25.70

26.60

27.40

+B00

3216

3244

3214

$816

3346

nerdy

14.80

14.00

14.50

14.00

15

+100

11.00

11.00

11.60

12

11.80

200

съ

0.10

AM

0,206

steady

4.00

4.50m

4.50ma

4.45b

4.875

42140

10.20

10b

19.20b

10.20b

10.201

steady

4.65m 8.10m

4.03

4.60b

6.00

6.10

4.725€ 8.25

~-2140

1

HK Lands HK Realty HK Trams Star Ferry Yarımatis Ch Lights Electrios HK Telephono G.I. Cement Dairy Farm A.B, Watson Yangtze Allied HK & FE Inv Textile Corp Nanyang

RECOVERY ON

WALL STREET

IN LAST HOUR

New York, May 23. Stocks staged spirited recovery in the last the best gainers, wire the first hour of trading today after drifting lower most

to be affected but the, decline was soon halted by the appeszanse of buyers at lower levels and the market

re-

the

was steadying again towards

the close with some issues recovering slowly.

Telephones have again been

The other galner in the utility section was trans, which added on 20 cents

Re to close at

New York Sugar Market

New York, May 23. World No. 4 sugar futures closed today unchanged to B points higher with sales of 800 contracts,

best performer, fur. although they lost ground on Tucaday, they had more than recovered before the close.

Hongkong Banks and Unions have been heavy.

Elsewhere prices have been small and show Httle change

from laat week's 'close

with

the overall turnover on a re- luced scale from $4,668,900 to $3,076,000,

Market Diary

the advance,

of the day.

Volume picked up sharply on which brought individual gains running to 6 points in special issues. The market finished the session with gains and losses fairly evenly divided.

The ols supplied the fuel for the late rally, which lifted prices from their lows all along the Une.

Market mon attributed the rise in part to some glowing long-range economic forecasts and to the fact that at no time during the past few days has selting pressure been strong. The last factor is a sign of that there's sill plenty of life in bulls.

Amerada sparked the

Here is a market diary of the with a gain of 3%.

The domestic No. 6 sugar futures closed unchanged to 2 points luwer with sales of 22 week: contracts.

Friday:

Trade covering bolstered the nearby deliveries while the new crap months eased slightly, the lower raw situation altracted scattered offerings.

Dealers underslood Ceylon 10-

Monday:

Tuesday:

Rule steady. T/O: $1,032,000,

Price movement

few andi small.

Utilities

Consolidated Edison Continental Ou of Del.

Crown Zellarbsch Cuban Amer, Sugar Diamond Alkali Douglas Airogazi Dow Chemical Dupont de Nexwars

Eastern Atrine.... Fatman Coda Con El Paso Nations) Gon

Folly Finance Corp Firestone Tyre de Rubber Ford Motor

anami Foods Geneest Motors

General Electric

+250

Government

Stocks

Suffer

WORLD

RUBBER

MARKETS

New York, May 23. Rex rubber contract closed today unchanged" to 25 points lowrer with sales of 07 contracts,

July

May

September November

January

Karch

May

32,30

31,40

31,40

3100

30.96

30.35 JD.GO

Standard contract closed un- changed to 25 points lower with

no sales,

May

July

September

November

January

March May

32,10

31.00

31.40

31.18

30.00

REACH NEW SEASONAL HIGHS

New York, May 23.

Cotton futures today opened higher and kept gradually adding to the advance.

Most deliveries again touched new seasonal highs under

a demand credited to New Orleans interests, commission houses, and the trade,

Extreme gains up to $1.25 a March

bale were shoved a Bile at the close but the list sill Anished net unchanged to up 24 points, The market opened unchanged to up 13 points, New Orleans closed up. 22 points.

Analyms clied five apparent seasons for the rise; 1. Lessening chances for cotton price legisla- tion at this session; 2. Increasing concern over the delayed siurt the southwest; 3 A strengthening statistical position In the wake of lurge-scale raw the of exports out Possibility of a higher loan rate; government's surplus stock; 4.

of contracts as 5. A seuncily sellers became more reserved,

Nearby July lagged on the meeting liquidation and apot house selling which

was absorbed by New Orleans and commission houses.

Lower trend reflected London cotton cables, plus the disappointing April consumption roper and the continued slow domestic factory demand. Most

of the trade originated between dealers and included switching of Jan/ Sept, ut 25 points and Jan/July at 45 points also exchanges of 15 November contracts and high priced.

Dealers reported offerings of three browns May/June ship ment from Indonesia at 27% conts, cont and freight. Locally, Spot No. 1 Ray was quoted at 32 cents, nominal.

SINGAPORE

||

May July October

3226-41

24.11 33.12

NEW ORLEANS Prices of cotton futures closed today as follows:

Spot July

October December

March May July

October

LIVERPOOL

Cotton futures closings, i pence por lb, were as follows: bid contract May/June

20,50

July/Aug.

26.40

Oct/Nov

36,30

Dec/Jer.

20.30

Mar/Apt.

New contract May/Juge

July/Aug.

23.10

Oct/Nov

Dec/Jan

Mar/Apr.

June

July

Def.

Dec.

MAT.

May

8AO PAULO

30.20

2170 40.00

40.30

40.50

40,03

Cotton future closings, In The Commodity Credit Corp. cruzeiros per kilo were as fol reparted loans of the 1058 crop lows: through May 17 totalled 4,928,- 235 bales. Deducting cumula- tive withdrawals, the pot stock of 1958 crop cotton still under icon totalled 3,956,853 bales.

NEW YORK Prices of colion futures closed today no follows: the Sput July absorbed. December

on some liquidation October

London, May 23. Government stocks suffered a lot of punish,

The market cased in ment today; their appear morning" ance

оп the tape was which were well constant and their succes- Futures:

No. 1 rubber per lb. sion of small declines final-

June up with total

ly ended losses of approximately 1⁄2 sterling.

They all closed at their 1867 lows. Institutional investors 4346 say showed not the slightest interest 5312 in the handsome 5 per cent

yields offered.

10

8116

61%

63%

297

291

083%-90%

No.

July 2

D0%-90%

rubber ber

June

804-80

No. 3 rubber per ib.

June

No. 1 rubber per lb.

June

Spot, rubber unhaled Blanket crepe No. 1 pale crope

The

303-89-6/7

97-99

LONDON

rubber market

WAS

Industrials showed widespread losses but the vast majority of slightly easier with spot quoted them were of the order of at 20% pence per lb. Priem: 100 pence or less.

Exceptions ap- No. 1 Ran spot 207 20 peared in the steel shares and June

Selement house term:

In the engineering section where July/Sept. losses ranged between

INSURANCE

The Labour Party's discussion

General markets, etf base, ports:

June and July

unquoted

261-2441

Latate crepe thin June Estate crepe thick June 37

AMSTERDAM

27

20

shilling Oct/Dec.

14

and 2 shillings 6 pence.

Jun./Mor. April/June

421

Gen. Pub, Util.

Kay

Getty Of

olls Glidden Co.

361

Goodrich (B. F.) Co.

73

Goodyear Tyre

ESTA

Gulf Dil

140

Heyden Hawport Corp.

14

Haritake Mark Co. Ingersoll-Rand

37

ing

Inland Steel Co.

照您

shares

44

Machinea

905

1115

Interchiorical Corp. THUT

A gain of 1 in the Louisville Int'l Hancha M

T/O: $800,000. Light seale protit & Nashville helped the rails, but Luking. 7/0: a loss of 1 in Fenhandle Eastern $700,000. Maintained steadi-Pipe Llue helped to stall the

utilities,

day bought a cargo of Brazilian Wednesday: raws while East Germany over- night

a buyer of British refined, while Spain was believed a buyer of either raws, or refined, from Brazil, Finland) purchased a cargo of Bruzliluni raws.

Moderate a cargo of Thursday:

July

Contract No. 4 (world)

September

October

March

May

6.78-79

0.75-70

Spot-feenis per 18. fob Cuba) 3772

ness, T/O: $346,000. trading. T/O: $780,000,

HONGKONG STOCK EXCHANGE

5.75

4.31

4.60

July September

4.50

Open interest: 8.370 contracts.

Contract No. 4 (domestic)

July

1.74

September

3.09

November March

0.07

Our Own Correspondent

4.07

Spot-(cents per elf NY

ex-duty

3.00

-United Press.

New York Foreign

Exchange

New York, May 23.

Closing rates were: Canada England eftiniai

41

30-day#

10-days

Austraila

New Zealand

South Africa

Belgun

India

Pakistan

1.04.23/33 2.7013 2.78%

1.217/10

2.704

Getty Oil was the most active issue, followed by Avco, General Motors, Deera and Sperry Bund,

The Industrial pointed the extent

International Nickel International Paper

in Tel Tel

John-Manville Co.

Kennecott Copper Liggett Moyers Tob. Co. Lockheed Aircraft Love Incor

of a universal old age insanmce

scheme caused some fresh sell-

10

Industrial Insurance The rubber market was very with Pearl Assuranco duli today, Prices in guilders

follows:

down another 10 shillings to its per kilogram, elf June closed es

1957 low of 19% sterling. One No. 1 rubber

of the quieter textile concems, No. a rubber

100% English Volvot, seared nearly & No. 3 rubber

news of a lake- No. 1 crepe

30%

shillings on

Hannas C. Power & Light

3:0 324% 051)

over bld.

a

199

34

31

3871

35

Lone Star Cement Co. Lowenstein & Horя McDonnell Aircraft average pln Blorabl Irop Corp.

Stock Exam.) of the mar-innesota, Mlping ket's rally, It closed at Masion Development 504.02. down 0.41 from Monsanto Chemical Co.

Montgomery War yesterday but up more than 3

Motorola Ino. points from the day's low. The National gun Reg. rallroad average was 148.24, off National Dairy Prod.

National Lead 0.38; utiles 74.38 of 0.22 and 05 stocks. 175.78 off .28.

A total of 2,110,000 shares changed hands today, with 20 per cent of the volume coming

in the final hour. Yerlerday's volume was 2,060,000.

traded,

National Steel Corp. New YorX Central blin Mathieson Otis Elevators Owen-Illinois Glees Pacific Ons & Eles.

an American Airways

Paramount Pictures

Parks Davis Co.

Penny J. C. Co. Pern: Balt Co. Philip Morri Procter & Gamble Co. Pittsburgh Plate Glass

Of the 1,147 Issues Bustress done on the Hong- 530 declined, 351 advanced, and Isong Stock Exchange

this 250 held unchanged. Now highs Publicker Industries morning amounted to approxi- were set by 40 stocks and 31 Fun Corporation mately $344,000. Noon quotations made new low. and the morning's transactions:

Shares Buyers Sellers

Balts

BANKS

ark Bank..

INSURANCES. Union XD..

SHIPPING Wheelook.. 7.30

.1050 20 1645

500

7.40 0000 7.40

205 100

DOCKS, ETC. K. Whist. Dock Provident, 19,10 13.2

DIMA 13/15 | LAND. ETC.

2005

2005

"United Pre.

RH Hotel 15.40 15.80 IK Land

(s) 120 11 Humphreya 10.40 1610

Really.....

RUBBER

London Foreign Amaly.

Exchange

London, May 23. Closing rates were: New You...... 2.7016+2.70% Montreal Asterdam

Copenhag Lisbon

Olo Puis

2.60 0/15-2.80 10.0514-10.693 140.074-340.70 19.4375-10.443 0008-50.10 17631-1764

30.0846-190.00L

United Press.

NAMESAKES

Answer:-1 Desdemona. 2

Tragedy, Theatrical; # Venice,

UTILITIES

300 @ 21 AÐ

Radio

Republic Bleol

Reynolds Metal

NY Stock Exchange bond Sears, Roebuck & Co.

| volume' was $4,130,000,

American Stock Exchange

| volume was 930,000 shares,

Closing Prices

Alden Inc, Acy. Allied Chemical Allied is inc. Allis Chalmer American Airlines American Cabia

Corp.

Americas Cyanamide Co, Amer. * Föryn. Power Ain. Gan & Mectric 150 1100 7500 116 American Metal

Am. Mach, & FRY.

American Smelting Am. Sugar Ret, American Tel & Tel American Tob, "D" Anaconda Copper 500 + 30.3 Armeo Steel 200 10.40

Armour

TYMI ZE 2015 22:00 100 22.30

Star

1500 LT

Youmati

103 C. Light (0) 1940 1940 Moorie..

30 3012 100

++

1,00

Telephonis

27.30 27.30

INDUSTIUALS

00:28 Aline Curs, Mining

Baldwine-lima-Flani-

300 0 30% | faizunoro & Onio

Beneficial Finance Tendix Aviation Corp. 27.00 Tanquet Com

Bethlebarn Bas)

Cement... 30% 30% no 39.36 Dosing Airplane

STONES, ETC.

Daley

Watso

COTTON

Textiles Nanyang

1400

11.40 1100

* - - 4.0056 4.0736 4.00

MISCELLANEOUS

Intart... 2015

INVESTMENTS

5 Jontoury, 6 izabeth, 7 Moor. Youlgem ( 0.16

Dibello,

ARDM

0001430

Elorden (The) Co.

Burrougta Add Mackina Campbell Bous Co. Chandan Padio R. Cab (3.2.) Co.

Celanese Corp.

Cake Manhat Birk Cimex Molyb

Commercial Credi

A 2746

2

Shell Oil Co....

Saint, Reg. Paper Finelin

Bocony Mabiloil

Solar Alecrati

South Puerto Rico Bugar

Bouthern Co. (The)

Southern National Gas

Southern Raliway (Com.)

Standard Brands

Standard Olf of Cal.

stressant Ol of DNI.

Standard O of NJ.

Stoep Rock (Porabto Bering Drug Co.

Modely-Van_Band,

Tit Studebaker-Packard Corp

Swth & Co.

Bit Ton Water Ami. Oli

18|| Thise MG. (Y

Sad, Tomy Century Fox Film

ssic | Undors Carbide

25

o

Union Paciße Hadiway

941 United Adrenal

531 United Go Corp.

1785 U.S. Fall "B" 2.1.3. Gypsum

651

V.B. Zhe Co.

58 UB. Hubber...

U.S. Smelling

14

R0% 18. Buch ****

14) Warner Bros.

Westinghouse Elec. Webwyr Urtic Tel Co. West Va. Pulp Paper Woollurnerth

Olls were mostly moderately lower except British Petroleum, dawn 3 shillinge. Anglo-Egyp tion "B" down 2 shillings 6 penco and Bumah down 2 chill- lage, Suez Canal fell 1⁄2 sterling to 464 sterling:

2.08 nom.

2.58 noin.

2.63 hott

2.16 0.

United Press.

LONDON METAL

PRICES

London, May 23. Prices of metals closed today Germon Young Loan

non-in sterling per long ton gained assentod

sterling follows! any and its assented 131⁄2 sterling.

044

1

Among the Japanese, Tokyo Tia społ

3-month 5 per cents non-assented tell

Copper spot 135% 1 sterling and the non-essentoda 3-month

7214 of the Japanese 1030s and 18109 Lead and half May

fall sterling; most of the 40 assenteds wero fractionally 2ine and half ay

down.--United Press.

Exchange Rates

Dysinem was done in the local

marting at Aise following Fyfen;--

sterling ngles (pop. #1

Dingapors (lan)

Aug

35.50u

In the US the average price

of one-inch cotton at 14" dê- signated spot markets was not available.

Total sales at these 13 markets were 18,474 balos.-United Press.

P&O B•I

B•I | E.A

COMPANIES F

PENINSULAR & ORIENTAL S.N, CO.

PASSENGER/FREIGHT SERVICE

Ostwards "CANTON"

Due Hongkona 30th May

ist July

20th July

"OORFU"

"CARTHAGF”

"CANTONY

Leaves London

Salled 1/4

24 May

25th June

... 23rd July

28th August

Via Southampton, Colombo, Panang à Singapore.

Homewards

"CANTON"

"CORFI"

"CARTHAGE"

"CANTON"

Leater Hongkong

Gi Jus

8th July 2nd August

Both August

Que Landas

2th July

0th August

2nd September

Wen Sapiorabay

Via Singapore, Penang, Columba & Aden,

"BURAT-

FREIGHT SERVICE

loads 28th May

for Bingapore, Pt. Awat- tention, Padang, Aden, Havre, London, Ilam- burg, Rotterdam, Ant- werp & Grangemosth

from UK.

13

Buyers Sellera

70914 703. 204

2301 2314 230

“BBILLONG” dus 18th June

duo 8th July "SUNDA"

from U..

ANE

0216

United 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 1859) 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 withdrawals,

BRITISH INDIA S.N. CO., LTD.

1856 A BUNDRED YEARS OF SERVICE ← 1958

"WARORA” dur 25th May from Japan

*alla 20th May

"SANGOLA" die 28th May saila 27th Maj

"BANTHIA" dua Bih June

salis 7th June

&

for Sincapere, Fenang. Rangoon Sahelka Chittagong

from Japan

for Singapore,, Penang. Rangoon à calcutta

from Calcutta, Rangoon & Strolls

for Japan

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

"UMARIA" in Port

"OBRA"

"ITAURA"

Jalls 24th May

due 25th May Falls 20th May

(Do dich May salts 1st June

"URLANA” dum

0th Jane

salls 8th June

from Bombay, Cochin, & A'pore tor Japan.

from Jagan

for Sungapore, Bombay, Karachi Borshi, Khoë- zamshahr & Kuwait

from Japan for_.Bingapure,

& Bombayi

Cockta

from Karachi. Bombay, Cochin & Stigapore for Japan

EASTERN & AUSTRALIAN “NELLORE” due 8th June

"AKAFURA"antis 10th Jun

S.S. CO., LTD.

from Australis

for Zebra, Sandakan, Rabaul. Brisbane, Syd-

Melbourne

дау

Adelaide.

All vessels have liberty to call at any parts so or of the route & the route & saillugs are rækjuct. sợ change or amendment with or without notice.

For full particulars apply to i MACKINNON. MACKENZIE K CO. OF HONG KONG LTD. Telephone Mus; 27721-4.