1957-10-25 — Page 9

Page

TRADE

THE CHINA MAIL, FRIDAY, OCTOBER 25, 1957.

and COMMERCE SECTION

PATO A

NY BOOM: NO EFFECT ON HK

EFFECT ON HK New York Rubber New York Sugar

LONDON

STOCK

MARKET

London, Oct, 24.

Dealers marked up prices

at the start of today's

no

session but quickly lower- ed them when they no-

there ticed

Was Then came the response. shock of Courtaulds' lowered dividend and the blunt expression of the out. difficult near-term look; the famous sharos tumbled 2/9 to their 1957 low of 24/9 pence. However, there was u amount of salt buying which lifted a number by & punce or a shilling. Ford Motors gained a thing but Rolls Royce lost au Chal Blores Dount. equal were all down a shilling on persimism regarding their prob. able profits from price Inletion. WEAKNESS

Fair

The nurked weakness of ster- ling was an unsettling faclor

with British Governments which mostly fell 1/10 or 1/8.

Oil were erratic with Royal Dulch up £34 but the others dis. inclined to move at all.

Japanese hind a strong R= covery with the 1907's non- the £1% and assented

up

Stocks Have A Bad Time

|TURNOVER DOWN $1 M

|

The

Lombard

UK Bocks Provident HK Hotels

HK Lands

Up or

Market

New York, Oct. 24,

Rex rubber contraels eipsed today 6 points lower to 2 points higher with sales of 31 contracts.

Now! 29.9510; fən: 28:08; Mar: 21321) May! 28,968; July: "29950; Sept: 28155: Nov: 20 90N,

Market

New York, Oct. 24. World No. 4 sugar futurea today closed unchanged to soven points higher with sales of 310 contracts,

The domestic No sugar closed unchanged to three points когда Standard closed 5 points lower | higher with solen of 23 tu. 2 points higher with no sales tracts. reported.

Nov: 28.35; Jan: 23.20. Mar1 28.02: May: 29.05; July: 28.95; Sept. 28.95; Nov: 28.90.

The market

cline:

* The Share Market At A Glance ★

Sept 26

Oct 2

Det 10

Oct 17

11K Bank

836

B521

BUO

369.0

3212

845

32b

Oct-24 Do 840

324b

+600

Union

90

BOY

$70

Wheelock

1.05

7.43

7.50

6.80xd

6.75

IK Wharf

122s

122A

1200

120

25b

53

1314

63

636

--150 stoady steady

11.75m

11.70

11.00

11.801

11.500

100

14.80

14.90

16

14.60

14.55t

cisively

34

24/

34%

34

33.50

500

the alternate

1.230

1401

1.375

1.40%

1.3750

--3

23

28.10

23.20

23

22.70

300

13in

133.

1810

110%

Yaumatis

102

102

102

1000xd

90%

Ch Lighla

18.70

18.60

19.800

19.70

Eleckles

27.00

28

27.80

18.20 27.20

...600

HK Telephone

27.30

27.40

27

26.70 ---300

GL Cement

29.50

26

27.40*

20

25

Dairy Farm

28.90

15.80m xd

16.20

10.10

10

-100

A.B. Watson

12.40

12.50

13.20

13.10

13

-100

Yanglaze

6:45:

BASU

6.450

6.25%

steady

Allied

4.201

4204

4.151

4.15€

4.18

steady

10

HK & Inv

9.84b

30

9.80b

9.801

9.901

+100

Textile Corp Nanyang

4.450

4.49m

4.40mm

£.27%

4.350.

-20

9.159

9.6%

9,50

9.550

9.450

nloady

By A SPECIAL CORRESPONDENT Hongkong Stock Exchange failed to react at all to the Wall Street boom yesterday and closed with no improve- ment whatsoever from last week.

HONGKONG

STOCK

EXCHANGE

Our Own Correspondent

Business done on the Hong- kong Stock Exchange this morning amounted to approxi- mately $507,000. Noon quota-

One might have expected the market to wake up or at least level off on its downward spiral, but it drifted instead fractionally lower levels at the close yesterday.

The Hongkong market, a bi the past, takes time to react to both the New York and London markels and at the moment the sudden convulsion's

Wall Street have been viewed with caution in the Colony.

Follow-Through

What will be studied with the utmost care, is the Jullow- through to this boom. 21 10131 take a few days to see whether tions and the morning's trans-it is real or just a flash in the

actions:

Shares

JANKS

11 Ban's Box Aqua INSURANCES Lombard a SHOPING Jain Nay..

MTC.

ا تھا لوگان

Buyers Retlors

Sales

130 840 270

635

223 4 124

10.000 € 127a

Street with the premium

ented down ; non-assent- eds were mostly up £ or £1 sterling. Gennan Polash non- assenteds lost £1. Dollar stocks Wall soared in keeping with

Wheelock

0.70

DOCKER.

|

Dock ............

110 53

Provident,

(0) .....

13.30 11.90 500

ip

two points to 11 per cent.- United Press.

New York Foreign Exchange

Closing rates were:

Consta

England oficial

Astralka

30-day's

10-day m

New Zealand

South Africa

Oct, 24.

14.70 LAND, ETC. HK Hotel, 14.40 14.00 1700 14.50 2007 14.00

pun.

If the boom is sustained ther

Exchange the Hongkong Stock should attract the investors and stop the rot on the market.

The market

has been in

A

HIK Realty UK Tram Star Ferry

1334

28

NEW YORK STOCK MARKET

STARTS WITH A BANG

-AND ENDS

WITH A SPUTTER

New York, Oct. 24.

listless late for some time now The stock market started off with a bang

but last week the market in general started to drop steadily end at the close yesterday the decline had not stopped.

The daily turnovers for the 500 130 week have been small except 33.00 for yesterday when there was a 33.50 mish to sell utilities and stores, and these have been the inain- 1.50 1.50 30,000 1.625 stay of the local market.

16

JK Lanu, 339% 33.78 200 1,317 Humphrey's 10. 10.10 1,000 à RUBBER Ainale Trust UTILITIES TRID 20 མ 000 22.07

Star Ferry Yaums!!

...

القتال

120

Worst Beating

## All Blue Chips had losses the worst Lights taking ... 18.30 1800 7500 18 14.30 with

1,500 18.30 beating, dropping 50 cents. 27.30 27.30 or 2720 Other utilities also ad large

1.03-31/32

3/10 2.77-11710

Electri

h

2.701

2.244-

2.50

OTODY.

Hope 1100 STORES, ETC.

ers unchanged.

LONDON EXCHANGE

Closing rates were:

New York

Montreal

Amsterdam

Copenhagen

Frankfurt

Milun

Pariz

Buckhol

Zurich

2.797 2.79-15/16

20914-2697,

10,03-10.63*, 1839-190,

uniqunted 1752-1753

1184-1184

14.4824-1441 12.974-12 971

Others unelinnged.--Undled Press

Agreed Merchant Rates

The Exchange Banks' Assurin- on announced today: Canadian dollars maximum selling: 160/18: minimum buying: 16 13/10 T/T 10% O/D

LOME

BAN

21

LOME

MAN

TLE

1500 7.30

142

1000

200

21 20 Usses.

27.20 Cements fell badly again this 27.20 week

dropping $1 to close at Macoa F. 1040

fowest since 1954. I Telephone 20.00 28.80 1.000 0.70 $25, their INDUSTRIALS

Apart from the bod markel conditions, Cements have been getting the bad end of the Siño- 30 Japanese cement war in South-

cast Asia.

Corpeet ****

Ba

Datry. 15.00 16.10 1,000 Watson

12.00 13.20 201

COTTONS

Textika Nanyang

400

..

4.43 4,000 4

4.30

0.26

INVESTMENTS

·Allled

0.45

435

Exchange Rates

thiy

In the stores section, Watsonn and Dairy Farms continue to drop another 10 cents each,

Ior the week The turnover was just over $1 million, which is one of the lowest weekly turnovers for many years.

Out of the 24 stocks listed, 17 registered losses while Üve The other two, were steady. Lombard and Far East Invest- mont bad fractional rains This tally is no improvement on last 1230 week which was 18 lower and 100) 11.10 eight unchanged.

5.10 16.43

Bunners wit done ta By local tamoljiva *xchang market thoning at the Following rates:- U.S. dollar tong #3) b... Sterling notes (per £1) Australian noted (per Indonesian rupiah iper Siam ticol (per 1001 Singapore 19fait

LOMBA BANK

12M"

DANI

LOMBARD

BANKING

tir)

なう牛丼です

1

Featureless

Here is an Ice House Street observer's account of the market:

ended with a sputter.

Profit-taking and selective, buying and selling left the lat pretty well scrambled up at the close.

A number of stocks rained or lost a pelni or more. On Average there អស practically no change.

The session was calm m contrast with Wednesday's Leetic trading, when the market soared more then US$8 billion for the sharpest gain In 28 years,

Heavy Trading

Troding was very

heavy in the high the first hour, with spoed reporting tickers running as much as seven minutes late. However, volume slackened

each hour after that.

North American Aviation and Lukens Steel

were the

all three 70,000-diare mark

hem was third topped the for the day.

Celanese Corp. G. LT, Finicial Corp. Chree Manhai. Bask Chrysler Motors .....

Cumax_Molybdenum Ciucit Peabody Colgate-Palmolive Ca. Columbian Carbon Co. Commercial Dredg Consolidated Edison Continental CH of Del. Crown Zellerbach Cuban Amer. Sugar Diamond Alkall Diamond Match Di Douging" Alroraft Day Cheticals ... Dupont de Nemours Eastern Airline

Eastman Kodak

El Paso National Cas Family Finance Coty. Firestone Tyre & Rubber Ford Mater.

General Electrio General Fooda General Motore

Gen. Fub. Util. Getty all

Gladen Co. Goodrich 1. J Co. Goodyeur Tyre Golf Oll

cyden Newport

Corp.

There were a number of big

Homeslake Ming Co. blocks early in the session Ingersoll-Rarid notably 18,000 shares of Lukens Inland Steel Co. and 15,000 shares of Bethlehem, mit Business Machines

Interchemtex Corp.

Inti arvoster international Nickel most Intemational Paper. actively traded issue, Bethlen Tel & Tel

Jolin-Manville Co. Kansas C. Power & Light Kennecott Copper Lugent Meyers Tab, Co. Lockheed Aircraft Low Inco?p..... Lone Star Cement Co. Lowenstein & Sona McDonnell Atrevaft

Stock Exge.) Mekabi Irun Corp. innerota Búning Mission Development stonsanto Chemical Co. Montgoniery Word Motorola inc. National Cash Reg. "A National Dairy Prod. National Lead

The

Dow-Jones

elusinft Dow-Jonas averages showed industrials off 0.73 to 438.40; rails' off 0.00 to 113.08; utilities up 0.51 to 04.00, and 65 stocks up 0.04 to 148.36. Sales for the cession of 4,030,000 shares compared with 4,600,000 shares on Wednesday.

There is little of any nota to repart on the Block Market which, in a week ent short by Of the 1,219 issues traded, 617 the holiday, experienced dull advanced, 413 declined and 180 and featureloss trading con held

New lows unchanged. ditions throughout.

were set by 54 stocks and new Even the improved senti-highs, by three. ment reflected In both Now

New York Stock Exchange London yesterday York and failed to spark any enthusiasm Bond Volume: $8,480,000. on Ice House Street, In fact, American Stock prices continued to drift trace Volume: 1,440,000 shares. Uonally lower as the week

progressed.

National Steel Corp. New York Central Naribik & Western lly.

in Mathieson ... O Mevators Owen-Blinula Class Oxford Paper 0. Famile Gas & Elec, Pan American Airways Páramount Pictures

Parke Davis Co, Penny J.C. Co. Pion. Beli da. Exchange Philip Monts

Procter & Gamble Co. Pittsburgh Plate Culass Publicker Industries Fure Di Republic Bleet .... Reynolde Mat

Dow-Jones closing averagos

Trading has again been on were: 30 Industrials 436.40; 20 de Corporation a meagre scale with the total |Rails 113.00; 16 Utilities 64.00; turnover. Just exoceding the 65 Stocks 148.30; 40 Bonds one million dollar mark which 04.72; Commodity Fatures Index: must be any of the lowest for 166.01. many years.

Market Diary

Here is a market dlary of the Allied Chemicals

duction of Unked KARANTEN.

weelc

Friday:

MORE AND MORE BANK DEPOSIT ACCOUNTS

are lying opened with Lombard Danking, where capital ascimulates steadily is fie assured security

8%

of the Bank, Interest of.85 par armum i paki

oh hums of 100.1

280,306.

Group Aszéla exceed E15,500,000 Interest bald half yourly without deduction of United Kingdom. Income Tax Send today for your copy of "bank pepadit Lecount"nookist "No, Acts from UmeraI

Manager.

LOMBARD BANKING

LIMITED

BANKEES

LOMBARD HOUSE

CURZON STREET PARK LANK, LONDON, VAI

Light scale trading, TÃO: $284,000.

Tuesday: Prices fractionally

Sears, Roebuck & Co. Shell of Cu.....

Saint Bes, Paper Sinclair Ol

Begony Mobilo}} Solar Aircraft

tain.

Boulh Puerto Rico Sugar Southem Co. (The)

Closing Prices

Alden ine. Avy,

101

Southem National Gas

27

Southom Railway (Com.)

Atsidard Brakin

Standard Oil- of CW).

tandard Oil of Ind

Radio

Standard Oil of Ŋ.J.

Steep Rock (Toroin Exge.)

soy

D

311

129

Allied Mill■ Ine. Allia Chahners. Am. Brake Shoo Aindrican Airline American Cable

Com).

American Cyanamdi Dn. Amer. & Forgn, Power lower. T/O: $232,- | Am. Car & Klecitie Am. hoch.de Papy, 000,

American Metal Wednesday: «Dull and feature American melting

Am. Sugar Her loss. T/C $120,000. America Tul-*- Tel Thursday: Remained in dold Anaconda Copper

American. Tab. "D" Turne T/O: $428, Armed Strel

000.

NAMESAKES

ANSWITS=1 Clowning. Brushers, 3 Fool, 4 Buffoon, Comic, Moustache, 7'Sinore

Impudence, 9 Walk, 10 Balle $11 Ekonadište.

Groucho Mark.

·ATYBOUT Alla Cons brining Malawin-JAMESXICOL. Palimore & Ohio

ENGAN AVIAtion" "Corp. Konguet Cona."

Sterling Drug Co.

stokely-Van Camp.

Studebaker-Packard Corp.

Bunting kining

10 Bwitt á : Co:

20f sexas Da

346ation` the,

1046 1ide Water Asen. Qi

2131 Time, Luc.

Ale (Union Carbide,

Lawanpraconhijy Fox Hiin Tik Diliar. Cal

101 Dolon Vacito Railway 10% 3 –Auver

but

3274

-1

NEW YORK

COTTON MARKET

New York, Oct. 24. Cotton futures today back- tracked after a short-lived opening rally lifted the list to now highs since carly July.

of

A previous three-day rise, for → cumulative gain of US$2,30 = bale, joined with reports diy clearing weather for a resump- tlari of harvesting in western areas, in attracting increased hedge offerings.

45

403

16

Finishing around the day's lowest the list was off 14 to 21 points net. Opening prices were up 3 to 0 points. New Orleans closed of 10 to 17 points.

Market

analysts attributed the reversal mainly to technical reasons rather than any chauge 23th the news. Despite clearing weather reports, other advices Indicated more unwanted raina Eij in eentral and erstern sections and a forecast for possible light frost in Tennessee sections.

PRIVATE SURVEY

The first private October crop survey

Tha appeared today.

report placed the yield at 12.1 million bales vs the last govern- 34ment Bigure of 12.4 million bales,

10

298

303

The next government estimate

10 will be made on November 8.

ОТ

254

The survey estimate 42 per cent

of the crop has been harvested against 63 per cent last year.

Loan entries for the week ended October 18 totallık 101,- 18905 bains, highest for any week stace the season opened on August 1. Net stack of 1957 erop 30% cotton under loun amounted in 27400,899 bales 771

against 1,329,441

bales last sense.

Lateness of the current sea- son explained the lag in entries compared with last year when Hie harvest was much more advanced.

Volume Open interest

20,100 231,500

drifted Inda-

while traders watched rollies and

do- fast-moving stock market, Domestic consumer in- terest in the delivered market remained on the quiet sido,

Shipment: rubber was quiet

limatted with

and offerings pricca arm. Ä few sales re- some three ported included

shoots Oct-Nov., cost and freight at 2711⁄2 cents a pound. Spot No. 1 Rs was quoted at 20 cents, nominal.

The

LONDON

rubber market WAH quietly steady with spot quoted at 24% pence per lb. Prices; No. 1 R apot......

Settlement house term:

24-24

Nov.

2415-2434

Dec.

2416-2412

Jan./Mar

25-253

Apr./June

2016-202

July/Gept

51-255

001/3000

2514-243-

Ceneral markets, elf bonis, ports:

25% bover 24-211

Uct.

Dec.

2015-24% Esiate crepe, thin Nov. 2015

thick Nov. 25%

AMSTERDAM

The market was quiet today. All quotations were unchanged, - United Press.

*

*

*

Trade interests were reported An both sides of the market in the way of evening-up' ac- counts pending further raw market developments.

Contract No. 4 (World); Jan: 3,59: Mart 3,039 Map: 3,639 July: 3.63; Bept: 5.2 Oct: 3.080; March; FEN.

Spot-cents per b. fub Cuba)

3,80.

Open Interest: 0,207 contracte

Contract No. 6 (Domestic): Mar: B.400: kany! (8.55b; Julę: 8.000). Fept: 9.650; Nov; 6.837,

Spot-cents per lb, cif NY **. duty): 4.33.

Open Interest 047 United Pres

contracts.

New York Metal Futures

New York, Oct. 24. Prices of metal futures closed today In cents per th as fol- lows:

Lend Get: unquoted; Nov: un- united.

Zine Oct: 0.89b; Nov; 8,996. Copper Oci: 23.085; Nov; un

aucted.

Tin Oct: 90.311b: Nov: 29.3. United Pre48.

P.O BI EA

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. CO.

Outwards "ODUSAN" "CANTON"

"SENDA*

""CORFU" "BALMARA”

Homewards

*

CHUSAN "CÀNTON"

*

降

"BENDA" * "WARTHAGE“

Leaves London - Dus Hongkong

SABOT 50/

Nalled

20th Oslober

13th November win November

sith Ocjober

19th November

10th December

15: Deonber

23th December

Laivas Hongkong Due LonŐAN

30th November ford December

Ird November

atud November 18th December

Ith January 17th January 12030 FebruseT

11th February

Via Singapore, Penza, Colombo, Bombay & Adsi.

* SUNDA” șiěla Volumin and Bombay, rade (at Burre and extends to Bamburg, Rotterdam sad AnsweID.

BRITISH INDIA S.N. CO., LTD.

"SANFUIA" due 300 Det

at 31st Oct.

“FULTALA” one jath Nov., kulls Lath Nov.

"SANTHIA" due at Nov.

alle 2214 Nov

from Calcutta, Hangoos de Breakin for Jok

from Japan

for Bingtipore, Penang, Itsazoon & Cricutta

(том Јарал

for Singapore, - Penang, Rangoon & Calcutta

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

32) 201

1522

5822

10

Monih

3015

Dec.

4359

Mar

22,300 214,000

Atay

23.100 216.300

July

12,400 117,000

2012 Del.

0,700 99,900

Mar

Tolal

56

4,800 90,500 940,100 bales NEW YORK

#50 37,000

800

Balle

SUMARIA"

Dec:

Prices of cotton futures closed today as follows:

Spot: 33,150: Dec: 24.22-73; Alagi 34.30: May: 34.939 July: 340;. oel: 33.33-14 Dec: 33.03; Marijoita.

NEW ORLEANS

Prices of cotton futures closed today as follows:

Bpot: 3.3: Das: 34.71; Mar: 337: Maya" $1.50; July: 997; Out: 1979 Dee: 33.55; Mar: 330s,

LIVERPOOL

Cotton

futuro closings, in penca per lb, were ná follows:

Contract Om/Nav: MER DeeJati 26:10: Mar/Apr: 15.43

santract Ce/NOTED 1/

Mar/Apr: 1

Cotton crudelis follower

SAO PAULO

Future zelòdinita,

porr, Julle were

March; 3.80; May: 40.30: July;

89.33: October: 4045

tha

ayarage price of un-inch cot

In the Unlied

Staten

100 al 14 disignaled markets was 3h64 vénia.

spot

"ODRA"

Th Vost

vas 25th Oct.

"OZARDA" dan Sint OLI. Ist Nov.

6th Nov. sail 710 Nov.

"OZARDA" due and Dio.

pats i Dec.

from Japa

FOR Hingapore, Penang. Galamba, Karachi A Bombay

trom Kerechi, “Bombay, Cochin & Bingspors for Japan

from. Japan

for Singapore, Bombay, Karachi, Kuwait, Azərda & IthurrafuIZLAIŽNY"

from Japan for Singapore, Bombar Bhavnagar Karachi ELAND, borrhe & Kuwait

EASTERN & AUSTRALIAN 5.5. CO., LTD.

"NELLORE" joads 6/7th Nov.

alls Bth ov

"NANEN" nde 11/ista Nov.

KADA ROSA NOV.

Los Labuan, Sandakeä, stabaut, Briébaur, Byd- Boy. Melbourne Adelaide

ree Sandakan, Bythes

MelboŭED

All vessels, hayo Mhóity, to call, AA KAY DHÉRE, NA

to, phage for APKORAKAM WIDa, ar, wiihen

doc hi purbeulars apply to MACK NAGA MAQEDON

OH HONG KONG ILL