1957-06-28 — Page 9

+

THE CHINA MAIL, FRIDAY, JUNE 28, 1957.

TRAIE and COMMERCE SECTION

83

MARKET HE ITATES AND RECOVERS NEW SEASONAL

Many Possible

Reasons For Decline

By A SPECIAL CORRESPONDENT

Vhock 15Wharf

Fred Docks olent

Rotels

The Hongkong Stock Exchange closed e on a brighter note yesterday after hesitant wock.

signs

The. market showed some improvement with many stocks recovering from

their lows over the week.

The decline could have been attributed to the recent heavy bombardmcut of Quemoy or the new that the UN Forces ba South Koren, would be equipped with moderni ANA, On the other hand, the local market might have been affected by the fall on both the New York and London Exchanges.

However, there was no furry of selling at all during the week.

Turnover

by

The turnover for the week-- $2.40 million--was down seven lakhs compared with the The

previous week's turnover.

they

16654

37n

02N

.BIN

00

7.00

10034in

~100

*+

STOCK EXCHANGE

HIGHS FOR US COTTON

New York, June 27 Rallying tendencies in cotton gathered head- way today for the fourth session in a row, carry- ing the list to new seasonal highs.

Our Own Corröspondent Business done on the Hong- kong Stock Exchange this mort- ing amounter! to approximately $101,000. Noon quotations and slightly at the morning's transactions:

Buyer Sellers

NEW ORLEANS Prices of cotton futures closed as follows; July

In sporadically active dealings, marked more by the absence of selling pressure, prices kept inching ahead from the opening on a demand emanating from New Orleans interests, commis- sion houses and local traders.

After a maximum gain up to. 1.89 a bole, the market siid off the close on day traders realising but the market att finished with new gains of 1 16 31

points. Opening prices were off to up 16 points. New 32 u 1630 Orleans closed #13

higher.

October Market alysts coupled the December demand

the continuing 1000 7.76cffect of crop uncertainty, plus Cotton future closings,

administration assurance of # ponce per lb. were as follows: 37.75 higher loan base for the new erop

Ôm minime July Ata

Sate

SOOL

October December March

points Max

July

The Share Market At A Glance ★

May 30

BR&Bank Lokard

Jure 1 1646

June 12 1635

June 20

June 27

Up or Down

HONGKONG

1040m

1630

-$30

- 37n

OBA

17n

-$2

螺絲

2014b

steady

7.300

T.BW

ง. น

7.70

100 m

100

107

109m

+31

43

43b

44

40348

443%

+250

18.10

13.20

13.40

13.30

13.10

200

15.40

18,50

18.00

15.45m

15.30

-100

JEV ands

Really

38%

80

30

30

3514

1.450

1.45b

1.45

1.45

1.425

22.70

23

23,20

23.10

23.10

-2440 steady

Ferry

135n

1309

181b

1368

13511

104

105

104

104

103

-$1

14

19

10

19

18.80

18.80

steady

Leders

30

30

30

30.25

20.80

-450

Kephone

27.10

28.30

28.80

28.00

28.40

-20c

31.2011

ALCement

32#4

32

33

324b

322

steady

of

alsy, Farm

14.90

14.30

14.80

14.80

14.70

Shates

34.23

Watson

11.80

11.80

11.80

3.00

11.80

11.75m

DANKS

G

6.60m

6.40m

6.35m

0.30m

-50

K Bank.. 1630 1640

4.4752

4.50

4.001

4.70

4.00h

-100

31.04

INSURANCES

FE Inv

10,206

10.30

10.901

10.30b

10.30b

4.70

4.75

4.826

8.55

8xd

8.056

4.875 8.10

4.675

steady -200

Union......

24.01

8.05

-50

SHIFTING Wheelock

7.76 700

11

000 7.73

K. Whorf Dock

20.30

10%

Provident

14% 45

19.10

200 m 44.75

S'ital

Dock

2000 2.46

hd the dwindling chances for any cotton price legislation this senion of Congress.

Oct/Nov.

20.32

Dec/Jan.

a1

Mar/Apr,

20.54

May/June

24.71

LAND, ETC.

500 15.40

1000

1035

600

3515

1K. Land

1000

55

Bumphreys

301 1000

1.42%

120

No delivery notices appeared Now contract July/Apr. today against the July contract. Open contracts in the spot cot- ton month today totalled 53,300) bales. The certificated stock remained at 9,054 bales.

Oct/Nov.

251.20

Dec/Jan.

Mar/Apr.

May/June

SAO PAULO

Closing

futures prices.

In

cruzeiras рет klio wêre ts

150 155

follows:

July

39.30

UTILITIES

October

41.30

35.500

March

41.50

Youmati

35.47 33.21

May

41,40

35.1

35.70

24-03- #493

The chler reason for the somewhat hesitant tone which prevailed for most of the me was the renewed shelling of- Jumos and pondbly the

recent news from Korea-

However, there appeared to be signs of Rome slight im- provement ou the closing day with the priec making 3 gradual recovery,

any

At no time was there actual seling pressure, DIN evidenced by the small volume of business tenumeled, and although most Issuem yielded ground, Joses were relatterly

Kİ,

of special comment,

Market Diary

ially for the week was two higher, five unchanged and 17 lower compared with right higher, seven unchanged nine lower the previous weekt,

Banks and Unions appear to have reached their resistance level and buyers me beginning week:

asale at Friday:

to take interest in these slock

Banka had

030, while Union were $80.60

on a buyer's quote,

Although Union Insurance reported recently a drop in

Here is a market diary

Ang

emand For ollar And

Dil Stocks

Ladon, June 27.

Dulch

Royal

down between 1 and 2

LAST MINUTE RALLY ON WALL STREET

New York, June 27.

Stocks staged a last-minute rally today that added close to 1 billion to market valuations al- though it did not step up activity which lagged at the slowest pace since April 1.

The Hotel .... 1840 15.00

Realty

RULDER

Amalg

Truml

..... 310 23.30

with

NEW YORK

Prices of cotton futures closed

today as follows:

Spot

Sitty

10 103

Oct.

Vec.

Mar.

Juir

C. Light (0) 170 18.90

(Rs.)

13 29.511

30

Macao E... 10.20 INDUSTRIALS Cement....

repos 28.30 20%

S ETC

and dollar stocka | With trading conditions duli | Wchokily sold on stock there was no feature worthy exagaoday but other

sen were dull.

hit foll shillings pence oilse that he cach the chemicals, steels, oils, televisions, aircrafts, ...

shik ct Anno-Egyptian A good-sized list of representative issues in

shitaur

pharmaceuticals, metals, scored gains of a point Ess of dollar shocks was

which feel to more than 4 points to boost the industrial vision premium

Pent to per cont.

average 2.25 points to 503.03. Inrialshowed mild munder apartment stores, Rafls, under leadership of New chaires plus some more York Central which climbed 11⁄2 stromayin of John Barkers points, picked up 1.05 to 146.35 whise ther 4 shillings

ติ nd utilities added 17 point to pence Billings compared 6954 will: Houston Lighting

with before

the chief gainer un 葫 point

Monday:

their proft for the year, It was Tuesday: not a monetary loss. As the

Company put it "an increase in premiums warranted a provision for contingency,"

Last Day

Lands lost 25 cents this week. Tomorrow is the last day for all the rights to be paid up then the particular share may improve.

Lacks inventive. T/0: $519,000. Shade Casey, To:

$742,000,

betunt,

Bull anci feature less. TQ; $192,000, Wednesday: Remain

T/O: 5277,0),

Some all rousel in- provement, T20: $730,000,

Thursday:

de-

Thiwas moderate buying rise, af Bh Gvernment · bonds, White trading picked with Consals up sterling, sharply on the upturn it cume

War

n, upala sterling. Fon bonds were inactive (except German Young Loan, entejandon-assenled. -

UP

600 4 23 40

32% 32.70 1800 29 1214

31

Dairy

14.70 1400 6300 6 14:00 13.70 11.80 1913 11.00 Lane, C...

Textiles.. 4.20 4.75 1000 4,725

0.00 MISCELLANEOUS

COTTONS Nnnyng

1101

|

Liggel: Meyors Tails. Cu, .... Lockheed Aircraft Loews Incorp.

634

Entert Vibra do 20 INVESTMENTS

21.30

41

191

All....

0130 4.65

4.70 1000 4.70

3412

IK. & F.E.

Invent

2016

... 1030

(Am.

31

Lone Star Cement Co.

Lowonmeln & Sons. McDonnell Aircraft Stock Exge.) ... Mesabi iron Corp Monsanto Chemical Co. Montgomery Wand National Cash teg. "A Motorola Inc. too late to lift volume sub-National Dairy Prod. stantially

National Lead and turnover of

National Steel Corp. 1,800,000 shares was 70,000 be New York Central

since April 1.

and London Foreignwichterling both as- und Wednesday and lightest Dun Mathema

In the utility section, Electrica took the largest Jons of the week. It dropped to $29.00, a Jose of 45 cents on the This share fell to $29.80 at one stage.

week.

Exchange

Closing rates were New York Montreal Amsterdam

Loridem, du 27.

279 3/18-2

week's

Lin... Mi fais Stockholm Virzuna Zurich

Sanllariy Telephones dropped to $20.10 during the week but recovered 30 cents at the close yesterday bringing the

loss to 20 een 15.

In the coiton section, Textile Corporation dropped 20 cents to close with a sale at $4.875, while Nanyang lost 5 cents.

Improvement

Here is an Ice House Street

observer's account of the market:

The

166-4, 42010-2020 17.435-17 15", DALLY DRSƏ, 14.45-14.451 72.41-72.46

12.315-12305

Other uncertainteel 'ted Pr

Unitere,

Best Gainers

Bw York Suar Market Vick tip

N: Yor June 27. Wo No 4 sugar future toda closed 9 to 16 poi higher with sales of 1, contacts,

Domé Na, sugar flures

Elevators Owen-Ulinois Glans Pacife Gas & Elec. Pan American Airways Paramount Pictures Parke Davis Co.

Among the best gainers In Industrials were the chemicals Jenny J. C. Co.

Penn. Salt Co. Eastman Kodak, up over 2, Du Pallip MoTİN Point, more than a point higher, Procter & Gamble Co.

nearly 2 and Allied Publicker Industries nearly point higher; steels-

Radio Corporation National and Lukens up close Republle Steel to 2 2 points; oils-Shell and Gulf Sears, Roebuck & Co.

Bheil O Co. .... up around 2 and Cities Service Saini Reg. Paper more then a point higher.

Sinclair Oil American Telephone nearly

2 points.

ron up Solar Aircraft

Socony Mobiloil

Curlike Wright soared to 2 points un volume which

New York Foreign etsed bro 3 points made it the day's active issue.

Exchange

New York. Jung 27. stock market has Closing rales were: experienced a week of a Canadia

with the overall England offesal amounting to only $2,461,000. Othem unetanged-United Press

turnovers

20-040's

1.06 2.201

258

PASSPORT TO SECURITY

LOMBARD BANKING

BUY LIMITED

BANKERS

· UKDOM,N,

ت الله جورب اللي جمب سيارة

{KIYIME PASO ÚNOR

DANK DEPOSITS OF

£250,000

2100 to warm a consistent 0% terent in absolute Security with Lombard Danking. Write to the Generul fanger at Head Office for your copy of "Dank Deposit Acoqunt" Hooklet No. л0.74.

Open a

(6%)

DEPOSIT ACCOUNT

with

LOMBARD BANKING

LIMITED BANKERS

Head c

LOMBARD HOUSE, CURZUN STREE PARK LANE, LONDON, W.

GRO 4015 (3) Umeni Branches and Akenis stranghoirt e riu

leated France Closing Prices

date between

Soul Puerto Rico Sugar close Southern Co. (The)

Southern National Cas Southern Hallway (Com.) Standard Brands Standard Oll of Call Standard dit of Irxt.

Standard Oil of NJ.

Steep flock (Toronto Exge. Studebaker-Packard Corp. Swift & Co.

B012

41 | contracts,

July

Sept.

Nov

301%

Jan

MAT.

2515

Mov

July

12,35

22.10-20

31.03

31.20

33.55

31.24

31.03

LIVERPOOL

In the US the average price of one-inch colton at 14 designated markets won 34.00 centa.

Total sales at these markets were 5,772 bales.-United Press.

PO B•I

E&A

COMPANIES

Outwards

"DORFU"

"CARTILAGE"

"OANTON"

Homewards

"OARTTIAGE"

1st September

WORLD

RUBBER MARKETS

New York, June 21. Rex rubber contract closed today 10 points lower to 10 polnis higher with sales of 98

opening, London cables, the

market eased under liquilation

and hedging following the belat- ed arrival of Indonesien slip- ment offerings and a simul- taneous pause in the consumer

demandt.

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. CO.

"CORFU"

Lester London. -Salled 28/3 Stutied 24/0 23rd July. 21st August

pas Hongkong

1st July F6th July

20th August 23rd September

Via Southampton, Colombo, Penang à Singapore,

"CORFU"

"CANTON"

"CORFU"

Lever Dongkong

July 1st August

30th Augu

Dus London

5th August

3001 September 27th September 20th October

Via Singapore, Penang. Colombo Ader,

FREIGHT SERVICE

"SUNDA"

Bih July "BHILLONG" loads 170: July

BALOKARA ĐẠO GIA July "SALSETTE" due 30th July

dee 13th Aug "BOMALI"

from V.K

for Singapore. PL. Swet- tenham, Penang, Aden, Havre, London, Ham- burg, Rotterdain, Ant- werp & Grangemoutla from UK.

from UK.

BRITISH INDIA S.N. CO., LTD.

Standart contract closed 10

50% lower lo 10 points higher with

no sales reported.

17

July

Sept.

MAL Nov.

TRAY

Jan,

419-

Mar.

58%

May

July

29

After a steady

line with

330

TU!

י7

12.30

32.17

31 50

X170

21.53

31.25 30.03

in

*

dur

from UK.

9 co-

raw

lugher n

or 1,137 issues appearing, Tents.

445 were higher, 130 lower, 282 After hesitan start, world unchanged with 75 new lows, contractirengued with the 20 new highs.

me, and news of it NY Stock Exchange bond large-sea inqul from Chile volume was $3,770,000.

Americun 1958

Stock Exchange velvingoth. 67 and crop sups.

volume was 600,000 shares. Other oris would seteruk

Text Co.

Tide Water Assi. Oil

Tune Inc.

6,31

Twenty Century Fox Film

271

Union Carbide

110

Union Pacific Rafwa

2017

United Aircraft

500

2832 UA

United Gas Corp.

1

U.S. Cypaum

4

SUS. Rubber

442

Bl

U.S. Smelting

12

16. Sect

08:

201

Warner Bros.

3814

Westinghouse Electri

11315

Reported sales of shipment rubber out of Medon included three ambera at 20 cents and three browns at the same price, both June-July, cost anci 23. Treight, Around 800

*

lo 1,000

"SANGOLA” dor

303

Western Union Tel. Co.

10!

tons were

involved

dealers

E

K2

West Va Pulp & Paper

43

estimated.

Woolworth

4151

1230

United Press

1956 — A HUNDRED YEARS OF SERVICE --- 1058

"SANGOLA" due. 17th July from Calcutta, Rangoon

18th July GUS Athi salle 7lt Aug. "ORMARA" dus 10th Aug. malia 12th Aug.

& Struis

+

led Mils Inc.

uty 9-15 buy 0.000 tons of Allied Chemicals veted propably another Allis Chalmers.... 20,000 to rested at a sub-Am. Cable & Radio Corp.

American Cynnamite Co. sequent &

Am. & Forgn. Power Dealers understood Bruall Am, God & Electric had reped cavitation, or Am Mach. & Fury

American Smelting deferments Shipment of

Am. Suza Re... about 371 tons or sugar in American Tel & Tel Consuming tric

American, Tob, "B" Anaconda Copper Arises Steel Armour

July

Conts No. 4wurid) -

geptember

Octuber January March

Mes

Baldwin-ima.Ham.

Bullimore & Ohio

Beneficial Finance

Denguet Conta

4.12-75 Bethlehem Steel

Boeing Airplane

Burroughs Add Nachines

Canadian Pacific R

1.10

0.2X

0.10

0.20

Bendix Aviation Corp.

*.....

4.66

Jy

4.03

Borden (The) Co......

September

4.00

Spot-teents er b

Campbell Soup Co;

Cud

0.15

Open Inr: 6,591 Contracts,

Contraelio, (omestle)

$ 0.07

0.03

6.16

0.70

8.07

September November March September

Spot-cents!

ex-duty Open Inter 1,binets.

United Pres

Exchage Rates

Business done the Incal unofficial extre

ket

ning of eroilowing rates:- V.B. dollar ($1)

Stocking note Australian per

(per 1

Indonesian Siam lead Singapore (BA) an

NANSAKES

Cuso (J.) Co.

Cat. Tractor

C. I. T. Financial Corp. Chrysler Motors.....r

Climax Molybdenum

Colgate-Palmolive Co Colombian Carbon Co. Consolidated Edison... Continental Oll of Del. Crown Kellerbach Cuban Amer. Sugar Diamond Alkali

Douglas Aircraft Dow Chemicals Dupont de Nemode Easter Airline

Eastman Kodak

El Paso National Cas Family Finance Corp Firestone Tyre & Rubber General Electric

this

6.15 10.40 Gen. Pub. Util

General Foods

13.49 13.40

General Motors

Getty Oli

aikkien Co.

2117 Goodrich (D. F. Co.

100

Doogtyear Tyr

quif. Oll

Heyden Newport Corp. Homesteks Maluq ca. Ingersoll-RAMKY

Thland Steri. Co

Interchemical Corp.

Answer Joke Dog Thi Business Martiner

gerel, 3 W4 Teltics,

Notense,

howard. If humorist).

VS. Line Cu

Withdrawal Of

Exchange Remittance

Dealers also understood some Indonesian offerings were being withheld

from the market

owing to unclarified

export-

imperi regulations regarding

carlificates and leonces.

Locally, spot No. 1 Rás quoted at 32 cents. SINGAPORE

WAS

The market opened slightly lower and cased fürther on some otate liquidation,

Lower levels attracted buyers and with sellers reserved tho maricel closet at highest total of the day. Futures: No. 1 rubber per b. July 21-9255 Aug. 024-9315

New Delhi, June 27. The Indian Government today withdrew all facili ties for foreign exchange No. 2 rubber per Ib. July 2116-0145 remittance abroad in view No. 4

20

of

the "difficult foreign blanket crepe.... sexchange position."

No. 3

Spot rubber unbaled

No. 1 pale crepe

were

16-02 87-88% 91-9115

50-101

LONDON The rubber market was stendy

Until today, senders allowed a daily remittance of £3; with spot up 1/16 to 27% penÓS

43 in foreign exchange postal orders per lb. Prices

for sterling area countries and No 1. Repot

Betuement house

Geptember

Oct/Dec..

30 rupees (about 224) for August countries exchanging rupte cur-

rency,

also

an-

Bay The Government

nounced exemption from income tax for interest on Industrial credit from foreign banks ar "Es | asins with ‘o repayment period

of five yedek or more.

This move is intended as an

15"

u incentive to foreign

Inii HarvestOH, ALANIN Literational Nickat

233%

100

Derick, 0

Juternational · Paper

103

20

Mohrs-Danville Co,

Mennoots Copper

famous Home Power & Light.

#7-374

Jan/Mar Apr/June

letteral markets, elt basis, July August Reptember Estate empo ulin Jub Ertate crepe thick July

ADISTERDAM...

The rubbor market was quic

bonks to ly steady today. Prices closed in

grant loans, and is hoped guides per kilogram, eif July the poncreedors will enable as foilpws: .. Indian Idustries to get credit No rubber or machinery

at reasonable], 26. 2 Abus?

rate from abroad,, the, gavorți- | No. 3 rubber 1003' ment mid-flouter.

No crepe

8.13,

2.00. nom. SUBD nett, unter Press,

frir Japan

from Japan

for Singapore, Penang, Rangoon & Calcutta trom Japan

for Singapore, Penang. Rahroon, Caloutta Chittagong

P. & O./B. I. JOINT SERVICE

“UMABIA” due 304) June

alls 2nd July

"ÖZARDA" due 8th July

Balls 10 July "19MAILA" due 25th July

sails 17th July "URLANA” due 27th July sails 29th July

from Jaban

for Singapore, Kombay, Carzoni, Dubai Bastah

110 Bombay, Cochin, & S'pore for Japan

From Karachi, Bombay, Cochin & Singapore tor Japan Exon Japan for Singapore. Cochin, Bombay Karachi, Dag- rah. Khorramshahr & Kuwali,

EASTERN & AUSTRALIAN S.S. CO., LTD. "NELLORE” asile 20th July for Labuan, Sandakan, Rabaul. Brisbane, Brdi

Melbourne Adelaide,

"EASTERN" due 9th Aug.

from Australia

All vessels have ilborty to call at any posts on or off the route ́à the route & aliings are subject to change or amendmeos with or without untica.

For full particulars apply to: MACKINNON, MACKENZIE & 80. OF HONG KONG LTD. Telephone Nos: 27721 4. ›

*