1957-10-04 — Page 9

Page

< THE CHINA MAIL, FRIDAY, OCTOBER 4, 1957.

TRADE and COMMERCE SECTION

WHEELOCKS LOSE GROUND Cotton Futures

Shareholders Disappointed

With Dividend

By A SPECIAL CORRESPONDENT

Wheelocks lost ground on the Hongkong Stock Exchange this week sliding 25 one stage on announcóment of the Company's final dividend of 372 cents.

cents at

At the close yesterday, the stock recovered slightly to close at $7.45, a loss of 20 cents on the week.

HONGKONG

STOCK

EXCHANGE

Our Own Correspondent

Business done on the Hong- kong.

transactions

It

that being

stockholders were disappointed with the final dividend and were expecting more, although it is the same as last year's; and, in fact, total distribution is higher. Last year Wherlocks paid oût $3 million on four million shares, but this year they will have to pay out extra $100,000 because they have an additional 1,400,000 shares to pay on.

Displeasure

Although the share is paying stockholders ten per cent in- ferent, they still do not

satisfied.

After their downward spiral Stock Exchange this had been halted somewhat last morning mounted 10 ap-

Cements dropped proximately

$301,000. Noon week, quotations and the morning's her 50 cents. They closed on

a seller's quote of $28their lowest since 1958. Although there was evidence of holders trying to get rid of their stock, there were no buyers at the prices quoted,

With Green Island's adverse export figures to Southeast Asia, prospects are very uncer- tain.

Shares

Buyers Sellers Sales

BANKS

1 ..

Fast Asia

850 200

SHIPPING

Anin Nav...

Wheelock. 7.40

DOCKS, ETC.

K. Wharf

Dock......

Sha!

ر الله

22000 4 7.45

Jou

Dock 14

10

14.

10.10

5432 10.20

LAND, ETC. FOC,Hotal.. BK Land Humphreys

RUBKEJ

+.

After the market recovered from the bank rise Jast week. looked brighter on Fri- 108 63% things 600335 day, but the atmosphere of of

10

★ The Share Market At A Glance ★

Oct. 8 85214

Kept On Slight Upgrade

New York, Oct. 3.

Page

LONDON DEPRESSED AGAIN

London, Oct. 3.

Stock markets had a very depressed day with a turnover low at 7,136 bargains récorded.

The news of the big Royal

Spot house buying of March and May joined

covering in keeping cotton futures on a slight Dutch and Shell issues coming

upgrade today,

Closing just below the day's) best levels the list was net three to 12 points higher. Open-

December March

52.00 W2.00

NEW ORLEANS Prices of cotton futuren elosed today as follows:

Up or

HK Bank

Sept.5 870

Sept. 12

865

Sept. 19 805

Sept. 20

855

Down -$2.50

Lombard

342n

34/b

34340

343/n

M

steady

Union

80140

90

DOL

20

003n

+500

Wheelook

7.34

7.85

7.75

7.06

1.43

-20

ilk Whart

1236

122

$22.

122

128€

wendy

BK Docks

54

58

52

626

5314

+$1.50

Providerst

18.10

12

12m

11.75mm

11.30

IJK Hotels

15.0

15.20

14.93m

14.80

16.98

+100

NK Landa

3814

-2014

3444xd

B#

844

+250

HK Realty

115

1,35axd

1.850

1,40x1

+50

HK T

23.60xd

28.30

23.80

23

23.10m

+100

ing prices ruled up

1381

182

131a

183

191a

off one point. New

seven to Ortana

Yaumatis

100

102

103

103

102

leady

closed up six points.

Oh Lights

16.80

18.80

18.70

18.70

18.00

-100

29

28.80

28.40

27.90

28

+100

27.80

27.80

27.50

27

27.80

+800

32

30

28.00

28.50

28

-500

Limited hedge offerings and covering by local professionals made prices sensitive dermand.

March

May

to the

Judy

Oglober December

18.70

15.60

18.00

15.90

15.80mx

+450

in-

12.60m

12,00

18.40

12.49

12.60

+200

6.80%

6.60%

4.45T2

6.450

6.45n

steady

4.20b

4.101

4.20n

4.209

IIK & FE Inv Textile Corp Nanyang

10.20

9.80b

9.80b

0.80b

10

4.528

4.448

4.50%

4.45n

4.40m

9.80m

9.801

9.801

9.75%

9.65%

steady +200 Bo -100

Star Forry

Electrica

IIK Telophone

G.I. Cement

Dairy Farm

A.8. Watson Yangleze Allied

WORLD

RUBBER

MARKETS

New York, Oct. 3. Rex rubber futures today closed 20 to 30 points

contracts.

WALL STREET

STRENGTHENS WITH GAINS

New York, Oct. 3.

lower with sales of 63 Stocks experienced a modest reaction in early dealings then strengthened near the close to manage a small average gain on the day.

November

Јанцагу

March

May July

September November

Standard contract

30.00

2885885

3222858

20.00

closed 20

to 30 points lower with no sales reported:

November January March

Blas July

September

Novchter

The an, amounting only to Hayden Newport Corp.

the .11 point In

Dow-Jones Horacstake Mining Co.

Ingervoll-Rand general average, nevertheless inland Steel Co. was substantial when compared Interchemical Corp.

In Business Maciuties with the day's lows.

Int'l Harvester International Nickel

issues recovered as much as points from their carly levels.

29.00

20.76

39.70

20.00

41

29.03

20.85

28.00

P'vident (0) 11:70 3000 11.30 relief was replaced by one

Terminal trading was rather caution this week. Turnover

quiet and mixed with dealers, amounted to $2.34 million, com- sellers on balance in face of the London cables and the Inst lower 200 341, pared with $2.36 million

domestle continued pause in iveek.

factory buying interest

Shipincat offerings were moderate but still too high to interest local buyers. Spot No. I Hss was quoted at 20% cents AMSTERDAM

Amalz.

... 1.27!

Trust UTILITIES

Tram Youmati

222.80 23.20 1500 23

ID: 102 5410

300! 101

C. Light 10: 10.50 10.70

20 ... $7.70 10.40

Electric

Macro E....

Telephon

INDUSTRIALS

Cement ...

Hope ....!**

Amoy Can

STORES, ETC.

Day XD

Wate

Lane, C. Empórium COLTONS

Texilles

Nanyang

27.00

Good Demand Tally for the week was 11 higher, Ave

and unchanged eight lower compared with three higher, nine unchanged and 12 tower inst week.

However, the stores section, 27 27.36 3000 ir 27.2 both Dairy Forms and Watsons

up well. Dalry are standing Farms have been in good de mand, gaining another 45 cents 31116.00 this week even though they are 1200 12.70 being quoted ex-dividend. Last week, when the interest rate scare here was at a peak, Dairy 437% 4.40 2000 4.35 Farms tacked on 30 cents-the

only stock to ignore all fuss.

15.00 12.00 13.30 14

8.55

2000 6 3.73 9000 43.78

0.05

INVESTMENTS

YARKISIC

A

(1.21

01:45 15 ફ્ર 4.10

Allied

the

Watsons, which were steady 630 last week closed at $12.00 yes- terday, a gain of 20 cents on Que week.

New York Sugar Market

New York, Oct. 3. World No. 4 sugar futures two points today closed higher to 15 points lower with sales of 869 con. tracts.

.

Tel Tel "

New commission house terest, however, continued to be restrained pending the govern- ment crop report on Tuesday. Other traders were more In terested in the world perles baseball game or transferred at- tention to other commodities which bave faster paces in dealings such as wool, coffee and

сосол.

Highest Guess

Spot

October

December

March

Collon

310

34.43

$1,06

14.20

31.09

32.00

32.41

22.02

in

LIVERPOOL

future closings, pence per lb. were as follows: Old contract Oct Nov.

,

New contract Oct Nov.

Doc/Jon. Mar/Apr. May/June July/Aug.

Dec/Jan

Mar/Apr.

May/June

July/Aug.

SAO PAULO

Cotton future closings.

out next year hud paralysing effect us did also the much smaller Vickers issue which was a fallure with the Under- writers taking up £8.9 million out of the total £10 million offered to shareholders.

QUIET DAY

Gilt-edged had a quiet day and it was not until late in the day when sterling began to strengthen that prices of British

stocks

closed Government 23.40 fractionally harder. 25.77 Oils were dominated by

Dutch-Shell announce 20.01 Royal

Royal Dutch fell £1-5-0 26.42 to £18-2-6 and Shell fell some

20.23

20.49 ment.

20, 73

20.07

tho

7/- to 171/6.

Industrials were erratie but

11 was difcuit to detect any

trend with pronounced

gains

cruzeiros per kilo were as fol- und Jusses scattered impartial-

lows:

Average guess of 60 members of the New York Cotton Ex- change placed the 1957 crop at 12.884.000 bales. Highest guess was 13,500,000 and the lowest 12/215,000 bales, The Cover- nient'a Jast

was estimate 12,713,000 bales. Last season's crap was 13,310,000 bales.

Loan

ICT impoundings

the week ended Sept. 27 fatalled only 59,300 bales.

Lateness of the

crop, plus delayed harvesting and small ginning returns accounted for the limited volume of hedge expect offerings, but traders 14

southern selling to increase the to marketing activities begin 2554 NISS

hit a normal upside. A Memphis spot Arm estimated less than 50 of the crop is open per cont compared with 80 per cent last

October December

March May July

37.0)

30.00

30.10

39.50

39.10

States the

In the United average price of one-inch col- lon at 14 designated spot mar- kets was unavailable. Total sales at 13

41.630

were Press.

*

*

#

54

si

Some 2

300

3341

International Paper

133

30%

Year.

John-Manyůle Co. Kansas C. Power & Light Hennecott Copper

Month

Volume

Open intercet

*

Oci.

1,800

30,300

M

Liggett Meyer Tob. Co.

Dec.

10.000

220,700

*

Mar

1.400

194,000

May

11,000

179,000

*

30%

July

4,000

110,500

Oct

G,200

107,600

LABI

Dec.

1,700

38,000

Mar.

100

340X

Total

40,000

930,100 baks

*

NEW YORK

The early decline was sean' na reaction after B technical Iwo-session advance had re- stured more than three billon of market values.

Market Idle

much of The market idled the afternoon as Wall Street attention

agnin was diverted to Yankee stadium and world serica baseball, but with the game out of the way and the series evened, activity picked up and prices edged higher,

Issues traded. 440 Of 1,088

395 higher, 251 quiet. Prices elesed today in unchanged,

The rubber market was very were lower.

Measured by the Euilders per kilogram, eif Cel averages, industrials added 79 10 485.82. ralls 11 to 120.13, as follows:

while the utilitles

dipped 21 to 68.83.

Volume dropped to 1,590,000 shares from 1,700,000 on Wed- nesday.

New

Stock Exchange hond volume was $4,100,000

American Stock Exchange volume was 488,000 shares.

Dow Jones closing averages were:

No. 1 rubber No. 2 rubber No. 3 rubber No. I crepe

SINGAPORE

2.41 buyers 2.30 not. 2.33 nom. 2.09 nom.

The market opened lower

with sympathy

overseas but ruled steady at lower level with

decreased buyers' action од activities. Futures: No. 1 rubber per 31.

00-6576 Oct. Nuy

0592-8515 No. rubber per ib. Oct. 83-63 No. 3 rubber per ib. Oct. B7-82 20-00 No. 4 rubber per ib. Det Spot rubber unbaled

844-851 05 stocka

40 banda

In the docks section, Hong- kong Docks have been in good demand over the week. This is probably due to their announces

a plot of Blanket crepe ment of putting up

They innd for sale in Kowloon.

No, palo compe closed yesterday with sales at

LONDON $53.00, gain of $1.50 for the week

All utilities were holding well at the close yesterday reaching higher ground after their leases

last week.

Banks and Unions were Arm. Cautious

Here is an Ies House Street

77-170

03-00

York

30 iniuste-lalo

20 ralla

IS 11

The rubber market was easier with spot quoted at 25 pence. Aller Chemicals Prices:

Spot

Nettlement House Se

Nov, Dec. Jan/Mar.

Apr/June

July/Sept

Lockheed Aircraft Loowe Theatpi ka Lone Star Cement Co. Lowenstein & Sons. McDonnell Aircraft

Block Exga.) Mesabi Iron Corp. Manesota Mining Monsanto Chemical Co Montgomery Word Motorain The. National Cash Reg. "A National Dairy Prod. National Lend National Steel Corp.

New York Central on Mathieson

Oil levators.... Owen-Illinois Gloss Oxford Paper Ca Pacifle Gas & Ziec, Pan American Airways Peramount Pictures Parke Davis Co. Penny 3. C. Co. Penn, Salt Co. Phil Morris Procter & Gambie Co. Pittsburgh Pinte Class Publicker Industrica Pures bl Radio Corporation Radio Corp. Pref, Republic Steel,, Reynolds Metal Sears, Roebuck & Co. Shell 011 Co. Saint Reg. Paper Sinclair Ol

Socony Mobuoli

Solar Alterati Bouth Puerto Rico Bugar 483.42 | Southern Co. (230) 12033 Southern National Cas

Southern Railway (Com.) Standard Brande

| Standard Gil or cal

Standard Oil of Ind.

Bjandard Oll of NJ.

Sleep Rock (Toronto Exgo.) Starling Drug. Oo Stokely-Van Camp. Studebaker-Packard Corp,

Sunshine Mining

Textron ine.

Tide Water Assa, Oil

Time Inc.*********

16.3

159.20

"Bimi

Comm. future price index

354.71

Closing Prices

!... $7015

Allied Mills Inc.

201

Swift & Co.

Allis Chalmkyy

2315

Texas Cu.

243-2516

Am. Brake Shoe

47

2334-2413

American Airline

1324

244-237 23-253

Am. Cable & Radio Corp. American Cyanand Co.

Am & Fargn. Power

1375

Am. Gas & Electric

Fdry,

Union Pacific Railway

American Smetting

40

United Cas Corp.

27

US. Foll "B"

171

U.. GypsuTEE

U. S. Ling Co.

51

US Rubber

D5

US. Emelting

13

U.S. Steel

13

Westinghouse Electric

117

General market elf, basla, porta;

2491-25

Domestic No, & sugar futures closed unchanged to tive points higher with sales of 44 con- observer's account of the market: | ost, tracts.

With buyers adopting a cautious Nov. Dea Relative steariness of nearby nilitude, Stock Market cond!- Estate months in the world contract tions hava been dull and was attributed

throughout the In part to re- featureless

past week.

ports the Cuban Sugar Institute

had formally approved a 100,000 Consequently, business has been

tons transfer from the world quota curbed a sustained de- mand.

Contract No. 4. (world)

January

1.19

March

May

July

September

October

March

Spot-(cenia per lb. fob

3.7%

3.43

Cuba)

4.40 Opon interest; 4,031 evntracts,

Contract No. 6 (domestic)

November

0.40-04

Marvis

0.35

May

July

4.55

September

5.69

November

0.89

Spot-foents per

sa-duty)___

per ib. Sit NY

OpenInterest; 1,004 contracti

trnilud Prons.

Exchange Rates

Business WAN

At a very low ebb with the overall turnover only amount- Ing to $2,346,000,

show

Price movements zentrally have

been negligiblo And His change. Wheelooks lost

Free thin Oct. 27 Estate crepe thick Oct, 203

---Valted Prom

London Foreign Exchange

London, Oct. 3.

Closing rates were:

HOSTIN ground following their dividend

an-

New York Montreal Amandam

Frankfurt Dudo

nouncement and would appear cheap at current Favels. Docks and Lands have been in Milan

demand and show slight im-Buca Provencat

2,70 1/10-2.70 13/16

1700-17001

140.10-140.18

41.7235-11,73%

117034-11709%

Dairy Farms'hayo also remained | Pazid V

quito steady and in the stores okholm

Vienna Crawford Ad- Lane KROUN

Zurich

1233}}-12.34% vanced to higher levels.

Copenhagen and Lisbon un- Elsewhere there has been little charged United Press.

interest displayed and the market closed on a hesitant nolo.

Market Diary

Here is a market dlory of the wook: Friday:

Slowly recovered. T/O: $923,000, Cautious atitude. T/O: $190,000, Virtually no change. 2. T/O: $337,000.

this Tuesday:

15.42 Wednesday: Quiet

done in the local metanga Market morning út the following, rates:-- Tar dokter (per 31).

KANGTALK notes, por (21) ...

stama Load (per, 100) 22

New York Foreign Exchange

New York, Oct. 3. Closing rates were: Canada England omnial

90-day Audcaliz

jew Zealand donditions. South Africa 770: $428,000. Thursday: Remains hesitant.

T/O: $450,000.

Eragil

Am Mach. &

American Metal

Am. Sugar Ref.

American Tel & Tel American Tou.. "B" Anaconda Copper Armco Steel Armour ...

Atlas Cona. Mining Baldwin-Lima -Ham. Baltimore & Ohio Beneficial Finance

Bendix Aviation Corp.

Benguet Core...

Bethlehem Siecl

Boeing Airplane

Borden (Tue) Du,

Burrough Add Machine

Campbell Soup Co.

Canadian Pacifio

Capo (JL) Co

Cat. Tractor

Celanese Corp.

CIT. Fanaful_Corp. Chase Manhat. Bank Chrysler Motor Climar Molybdenum Cuti Peabody... Colgate-Palhallve Co. Columbien Carbon C. Commercial Credit Commonwealth sec. Consolidated Edwon Continental Oil of Dei, Crown Zelierbach Cuban Amer. Bar Diamond Alkali ........... Am Match Co. Douglas Aircraft

Dew Camnicals.... Dupont de Nanours Keling"

Cartman Kodak

...

KI Pas" National Qua

Finally Finance Corp.

1,03-1/16 | Fizestolle Tyre & Rubber

2.7726 Ford Motor j

2.74-0/10 | Denoral Electric 3.70-9/20 Denezai "Roode 3.235) Candral Motor

den. Pub,

dildan Do

2.13%

Detty oli

01901

2623

Goodrich (B. V.) Co.

.01.20

Goodyear Byte

Gult ou

Twenty Century Fox Film

Union Carbide ....

Union Ou of Cal.

United Aircraft

Western Union Tel. Co.

West Ya. Pulp & Paper Woolworth

Prices of cotton futures closed today as follows:

Boot.... October December

March

tay

October

bales.

United Press.

NAMESAKES

Answers:--1 desi, 2 George, 3 0 Rowing, 4 Boel, 3. Bummel, Adventures, 7 Locks, 8 Japes, River, 10 Harris, 11 Oars, 12 markets Films, 13 Thames.

United Jerome K. Jerome (Author of

"Three Men In A Boat").

PO B·IE.A

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. CO.

Outwards "CARTHAGE"

"CHUBAN"

Leaves London Ballod 10/

Sulica 30/0

161 October

5490

34,64+45

*

"UANTON"

$4,50

"CORFU"

34.16

54.30

32.00

|CHICAGO GRAIN

MARKET

Chicago, Oct. 3. Grain futures turned irre- gular at the close of a moderately active session of the Board of Trade to day.

Futures opened irregular but turned lower at mid-morning when a private grain report became was released. Prices irregular agalu around noon,

The crop report predicted higher than expected yields in wheat, corn and soybeans,

Wheat declined

sharply around noon but short cover- Ing recovered some of the losies. New crop July and September. deliveries sci new

lows for the season.

*

跚

Que Mongkong `

2011 October

30th October

18 November

13th November

18th

December

Via Southampton, Colombo, Penang & Singapota,

Liomewards

“CARTHAGE"

"CHUSAN"

"OANTON"

"CORFU"

Leaves Hongkong Due London 24th

October 24th November 3rd November -30th November 22nd November 3rd December 10 December 10th January

Via Blagapore, Penang, Colombe, Bombay & Ades.

FREIGHT SERVICE

"BOUDAN" leads 8th Oct. Saila Bih Got.

"SHILLONG"luð zia! Boy."

#

*

*

for Aden, Puri_Sald, Alexandria, Genoa, Marsellies, Casablanc Landon, itambues. Bot ferda & Antwerp,

from UK.

BRITISH INDIA S.N. CO., LTD.

for Jagua

·

fe

1855 - A HUNDRED YEARS OF SERVICE - 1956

3th Oct. from Calagong, Singa- "FULTALA” dur

pore & 'Atarila Bitz Bil Oct.

"BANGOLA“dus 15th Oct ila 26th Oct.

"FULTALA" dus 10th Nov. at 16th Nov.

Continued good weather for harvesting brought selling in soybean contracts.

*

"ITRIA"

Export demand wux although some corn was sold to

#low

the United Kingdom und a

Halted amount of soybeans was

to off

*

To purchased by Japan.

-United Pres.

London Metal

Prices

London, Oct. 3. Prices of metals closed today sterling por long ton as follows:

La

Ta apot

+oth

Copper Boot

Smooth

Lead Jat hall det.

Wheat closed up 94

1% cents. Boybeans closed of

to cent.

Wheat No. 2, red

Брок

Dec. 21011) 21036(L) 316-4 March

*

1

Jap

for Singapore, Penang, fangvou & Calcutta

trop Japan

for Bingapore,, Penabe,

Hangaon & Calcutta

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

dun 10th Oct.

alls 13

Oct.

"OBRA"

du 22nd Oct.

mails 28 DeL

"OZARDA" das 30th OoL

KLIN 1st Nov.

"URLANA" dar 9th Nov.

salle 20th Nov.

from Japan

for Sipgapose, Penang,

POTK

Swettent Madras Kakipoda from Japan

Pr Slogapore, Peasg Colombo, Karachi Bombay

From Karachi, Bombay, Cochin & Singapore for Japan

from Karachi, Cochin de Straite for Japan

EASTERN & AUSTRALJAN S.S. CO., LTD.

220

July

Cors, No. 2, yellow

Spot

107-19734

121n

December

Match

22717-120

1271 1319-34

wall Gti Del.

**ARAFURA" loads 3/0th Oct.

4 7th Oct.

May

July

Bogbeans, No. 2, yellow

Bye

Durers Seller

December

.unquoted unquoted

March

anjucted unquoted

Data

10194

December

2013

101%

March

B$5

Spot

7144

November

Jamiary

March

May

Darley,

SpotART

Zine at half Eki. 701%

Jan,

-Uilted Press.

New York Metal

Futures

Now York, Oct. 1. Prices of metal futures closed Juday in conta per 1b. as follows: La

Złoc

July

New York Bour

200 lb. sack

22233 m

234-39415

2351;

134-130

153.5012

United Press,

inquofag Agreed Merchant Rates

Maximum Minimum

Nor, Copper Cal

Oct,

TURSUPITA

Canadian &

Sinca New Zealand

to

1/3 20/20

Flyi

15/16 a/%

"NELLORE" In Pert

· from Australia for Japan

for Labuan, Sandakan, Rabasil, Brisbane, Byd- DAY Melbourne Adelaide

All vessela kavý liberty to gali at guy' poría în or of the fonts & the route à sužžžnja gra subjóęs. La chagen or agendment with ex without natipu.

for full particulary nonly do

MACKINNON MACKENZIE A CO. OF HONG KONG BED.