1957-12-20 — Page 11

THE CHINA MAIL, FRIDAY, DECEMBER 20, 1957.

TRADE and COMMERCE SECTION

· Page : 11

SELLING SPREE STOPS Japanese Surprised At

HONGKONG

STOCK

General Decline

In All Prices

EXCHANGE TURNOVER ONLY $1.4 m

Our Own Correspondent

Business done on the Hong-

morning amounted 10

kory: Stock

proximately

quetaVonn

Exchange

$270,000,

this ap- Noon

and the morning's

Transactions were;

By A SPECIAL CORRESPONDENT

The Hongkong Stock Exchange closed steadier yesterday as the flood of selling receded and the market seemed to consolidate itself for a comeback next

year.

Shares

Buyer Sellers

Sadie

The

BANKS

-315 Bank. 210

272

7014

which selling.

Wa3 Lruught on by many local com- panier dusting their necounts for the end of the year and having some rendy cash in hand, 0.05 6,000 7 645 uppent to have stopped and been replaced by a buyers' market,

East Ania

INSURANCE

Union...

SHIPPING

Wheelock 0.45

DOCKS, ETC.

K, Whart

1JG

Dock .....

Provident

11.

K Hotel

14.30 15

HK Land.

(0) ....

LAND, ETC.

8315

At prevalling prices, which

12 1,000 ch 11.79 ore quite low, there are many good buys, but due to the lack

32 2014 101

Realty 1.321% 1.40

RUBBER

Amalg

UTRATIES

'ITE2}

1.30

1.33

た

Star Ferry T

Yaual.... DE pd 100

C. Light

(0) Ian 1730 2,000

Electric

20.40

Telephone 25.30

INDUSTRIALS

Cement

STORES, ETC.

Dairy 10.00

Watson ... 1134

COTTONS

4.43

Textiles INVESTMENTS Allied

20.40

17

570 2,300

16.00

20.70

.... 3.0is 3.70

2,000

450

New York Sugar Market

Now York, Dec. 19. World No. 4 sugar futuros closed today 1 to 5 points lower with sales of 137 contracts.

Domestic No, sugar closer points lower to 1 point higher with Enles of one contract,

Easier trend in the world

lower reflected the contract row tuation and hedge pres- Dure.

Morrocco was the accredited buyer of 37,000 tons of Cubans, belleved mostly for February shipment, with some in March.

Other reports said

the Brazilian Institue sold some ex- port possibly up to 20,000 Lons, Contract No. 4 (work); Jan. 3.08: Mar. 3,78: May, 3.78 July, 3.00, Sapt, 390, Oct., 3.77; Mar May, 3.53 Spot-cents per lb. fob Cuba), 3.80.

Open interest 4,15 contracts. Contract No. 6 domestic): March, 3.82; May, 506; July, 8.77; Sept., 5.77).

No. 5.0 Spot-teents per 1. cif MY ex-duty), 5.60,

Open interest: 1,609

United PrORK.

contracta.-

London Rubber Prices

London, Dec. 10. Prices in pence per lb. closed

as follows:

No. 1 Rapot: 2416-241. Settlement house

term:

2424-24717 Feb 25-233;

251-25 Jan/Mar: 23-25!!

Juno; 251-2551: July/Aug:

Jan: Mari ADC/- 2011-

251: Oct/Bee: 2514-292k-

General markets, 'eil basis, ports:

Doe: 24-2455: Jan: 243-24

Feb:

2496-24967 Estate crepe

this

Jan:

zaj: truck Jan: 23%.

AMSTERDAM

The rubber market was easy today. Prices closed in guillers per kilogram, cif Jan. as fol- Jows:

No. 1 rubber

2.35 nom,

2.34 nom.

of ready money business has been slow.

Steadied

The selling spree rent nearly alf stocks down to lower levelu This week, but at the close yo** terday prices leadied some- what.

The only share to tuck on a gain for The week was Lane Crawfords, which went up to $14.20 yesterday, a 20 cent rise from last week.

NEW YORK

COTTON MARKET

New York, Doc. 19. Cotton futures today opened lower and romained on the defonsive for the rest of the session,

the market moved up slightly

Afler Saking $1.20 a bale,

at the close on from the lows local covering operations bu

The murkel

All utilities were down with finished with net losses of

Telephones, which lost 50 cents, leading the decline. Even Dnity Farms lust 50 cents.

Conents, which went up to 227.30 sellers last week-their highest for some time--dropped 50 cents this week to close yes- terday at $23.80.

Turnover for the week was down to $1.46 million compared with $1.73 million. Tally was two higher, five unchanged and 17 tower compared with six higher, six unchanged and 12 lower last week.

Quietest

Here Is un lee House Street of the account observer's market:

13 to 14 points.

opened off 2 to 5 polots. New Orleans closed off 7 to 13 paints.

★ The Share

HK Bank Lombard

Union Wheelock

HK Wharf

ПK Docks

Provident

HK Hotel

US Reaction

By STEWART HENSLEY

Washington, Dec. 19. Japanese officials said today that chances are - "only about 50-50” that they will be able to reach agreement before the end of the year on the amounts of Japanese textiles which will be shipped to the United States during 1958.

Market At A Glance ★

Up or

Χαν 21

Nov 28

Dro G

4

Dec 12

Dec 10

Down

870

835

815

820

-$15

335

0136

32b

32b

3244n

+750

79K

7030

77

10

-$1

0,05

0,40

0.00

6.56

6.60

-150

117

117

117

110

115

-----$1

3144b

BIK

51b

140

514

steady

11.80

11.00

11.00

11,55mi

11.50

~50

14.60m

14.70

15.10

14.85:

14.70

-150

IK Lands

33.50

23.25

55.40

33.25

+33

3274

280

NK Really

1.35h

1.35b

1,35b

1.35

1.325

-214c

HK Tram#

22.00

22.80

22.80

22.00

22.40

Star Ferry

128-

1276

125n

1250

12:51

steady

Yaumatis

0311⁄2

9336

954

07

94

Ch Lights

18,40

17.40xd

17.30

17.10

16.90

Electrics

27.30

26.80

27

20.70

20.50

--$2.50 --200,

200

HK Telephone

20.30

28.00

23.00

26.00

25,10

G.L. Cement

22.80

24.40

250

27.30m

20.80

-500

Dairy Farm

10.20

16.20

10.80

10,30

15.89

-500

yards.

A.S. Watson

12.25m

12,206

.12b

11.70

11.700

steady

0.30

5.35

5.23b

5.35

5.350

steady

inent

3.80b

3.70

3,700

3.76m

3.700

-Be

HK & FE Inv

9.50

9.806

2.00)

9.60b

0.70

+100

Textile Corp

4.50

4,80b

4,50

4.55

4.55% steady

0,500

9.30

8.95b

9.20

8.50bxd-200

Yangsize Allied

Nanyang

THE NEW YORK

STOCK MARKET

New York, Dec. 19.

Stocks gained 2 billion today in fairly active re- covery headed by steel, aircrafts, chemicals and oils.

into and ran

In

Aircraft gut Douglas action on the upside Operations centred in the cur-up more than 2 points inte rent

Spot the day on a successful ring deliveries. crop house selling in the March, May of the Thor mistle of which it Lock- was pre- is a prime contractor. and July deliverien surned to be hedging against heed got a lift carlier or a big

out of the Govern- Air Force onder. purchased ment stock.

NEGLECTED

The whole aircraft

group moved ahead. Steels registered galas of 2 points in US Steel, Sbort and Tube Youngstown One house was the accredited and Lukens. Oils were up trac- seller of upward of 16,000

Liens to 2 points. Kennecott bales. Houston spot interests Copper led the coppers higher. were buyers of about 5,000 Chrysler was strong in the

Commission motors. in July. bales

The 6 millionth auto- house brokers and local traders mobile of 1957 will roll off a

both 011

wore

market.

ex-

Stock Market The perienced one of its quietest weeks this year with the turnover failing to reach the paltry total of $1,5 million.

generally World markets appear to be depressed by the overall situation and it is dif- ficult to foresee any silver fining the present time.

It is therefore, neither sur- prising that the market Jacks uny genuine buying interest

ness

crop

Chan Manhat. Bank Chrysler Motors Climax Molybdenum Clett Peabody... Colgate Palmolive Co. Colombian Carbon Co.

Consolidated Edison Continental Oil of Del. Crown Zellerbach

Cuban Amer. Sugar Diamond

ka!!. Diamond Match Co. Dougina Aireraft Dow Chemicals ... Dupont de Nemours Eastman Kodak

E 120 National Gas Family Finance Corp. Firestone Tyre & Rubber

General Electric General Foods

General Mutars

Gen. Pub, Util.

Ghidden Co. ....

sides of the assembly line tomorrow, putting Goodrich (B. F. Co.

this year well ahead of last.

130-

were months New

Cautious- relatively neglected.

coupled with won certainties over farm legislation when Congress mcote in January.

The certifiented stock regis- tered another sharp rise, mov- overnight up 2,102 bales

the highest L 21,035 bales, since mid-October, 1955.

In November at

The Census Bureau reported domestle consumption, of all 6,305,205 bales. The figure came slightly ahead of expectations, It com- pared with 819,818 bales used were again relatively small in in 25 working days during most cases, and it is hard to October and 810,089 bales used single out any one particular in November last year,

at the moment nor surprising cotton for 20 working days that prices have tended to nax again during the past week.

Losses, though predominant,

stock.

Dairy Farms lost 80 cents but would appear to be got.

Month Vec.

Volume Open Interert

Mar

11,400

Day

Ling cheap at the closing level of $15.80.

Liv

0,400 11,000

6,200 230,300 331,000

201,800

Oct.

£,000 140,400

The

1,400

63,000

Mar.

600 23.500

May

Total

Ulitics all lost ground with Telephones suffering most,

. Elsewhere declines were in line with the general trend and the only xainer of the week was in Lane Crawfords which

fracionally moved bigher to $14.20.

Rubbers were

·qulet Aut alio moved to slightly lower levels.

Market Diary

200 10.400

NEW YORK

STRENGTH

Railroad

showed issues strength late in the day. Ship building shares strenthened. Firestone Tyre, U. S. Gypsum, Caterpiller Tractor, and Locws stood out on the upside in their respective groups.

Today's rise was in contrast with that of yesterday which ran day. in the into selling late Gains were retained in most sectiona, with only a moderate profit-taking deve- amount of loping,

Goodyear Tyre Gulf on

100%

Heyden Newport Corp. Homestake Binlug Co. Ingersoll-Hand

297

371%

Int'l Business Machines

Ini Sices Co.... Interchemical Corp.

Int'l arvester International Paper

International Nickel

Int'l Tei Tol John-Mahvlite Co. Kann C. Power & Light

Kentecoli Copper Liggott Meyers Tob. Co. Lockheed Aircraft Loews Incorp Lone Star Cenem Co. Lowenstein & Sons. McDonnell Aircraf

Stock Exp<.]

Mesabi Iron Corpo

M

Monsanta Chembal Mintgomery Ward

ine. National Casi Sig. "A Today's advance began short- National Dairy Piud. ly after an irregularly higher National Lead

National Steel Corp. opening. It was based on belief New York Central

Norfolk & Western Ry. that the market in its current

Mathieson position is at a point where deals Elevais mand has developed previously Owen-inois Glass

Oxford Paper Ca and also the rise was alded by anticipation of some moves case money.

20

This is the day the Federal Bleserye banks moet,

Pacific Cos de Face Pan American Airways Paramount Pictures

Parke Davis Co. Penny J.C. O

There

Penn, Salt Co.

Phlip Morris

40,000 1,058,100 bales were rumours the discount rate inight bo revised downward again. Also there was talk of o Prices of cotton futures closed cut in the 70 per cent margin requirement which has been in today as follows:

effect since April 25, 1955, when It was boosted from GO

per cent.

Spot: 36.45; Mar: 30.18; Mag: 38:20; July: 35.02; Oct: 34.30; Deci 34.31-22; Mar: 34.14: May: 34.00.

NEW ORLEANS

Prices of cotton futures closed today as follows:

Spot: 35.56: Mar: 36.14; May:] 03.20; July: $5.92; Oct: 34.31; Dee:

liere is a market diary of the 34.19: Mar: 34.15: May: 31.06

Of the 1,176 issues traded, G16 advanced, 293 declined and 267 held unchanged. New tows appeared in 107 stocks and new highs in 2.

Procter & Gamble Co. Publicker Industries Pure Ol

Budis Corporation

Radin Corp. BICL Republle Steel ...... Sears, Rorbuck & Co.

Khe CHI CẬ

Sain Reg. Paper

Sinclair Oil

Soceny Moulon Soln Areraft

30%

90%..

NATO TALKS

BOOST

DEALINGS

Now York, Dec. 10. Many stocks registered gains of up to two dollars the in active dealing on New York stock market today following publication of the Nate communloue.

The opening had been irregular with some carTY- over selling from yesterday but late in the morning a rally began.

The gals were led by steels, motors, oils, metals and aircraft shares, many of them up from one to two dollars--Reuter.

LONDON STOCKİ

MARKET

London, Dec. 19. Weakness in oil issues, in- cluding the new offering of British Petroleum, led the market into lower ground at the close today.

Some oil stocks, slipping by met as much as two shillings, support at their lowest levels for the year.

Unilever backed down 2/- an otherwise tractionally lower bluechip Industrial section.

the They said they had been sur-tem textile shipments to prised by the "ruther bitter" US. in an effort to appease reaction of American textile the

American manufacturers manufacturers to Japan's pro- and prevent pressure for off- posal to make certain modile-clal US, restrictions, tions in her self-imposed quotas while retaining the 1857 overall During 1957 celling of 233,000,000

they pub aÐ square overall ceiling of 235,000,000 square yards on textila ship- State and Commerce Departments to the U. s.

ofctals, who met with Several weeks ago, in talica American industry represent with

the American oficials, atives to get their views, sald Japanese proposed setting the they hoped to schedule another same, overall limit in 1958 meeting with Japanese Minister said they wanted to make some Talcao Shimoda and his qlden | "modifications" in individual within the next few days to categories. discuss the matter further.

MODIFICATIONS

For instance, they wanted to increase the quotas on velveteens and ginhams, which were Est There were Indications that 2,300,000 and 36,000,000 square American omcials might agred yards respectively for 1957, and la somo of the modifications compensate for this by reducing the Japanese proposed, rejecting shipments of poplin and shirting. the extreme position of the which are not in good demand

hore. American industry.

was believed However,

In addition, they proposed unlikely that the US, govern- | Increasing the "elasticity" pro ment would feel free to endorse vision of the quotas to permit nil the Japanese modifikation shifting a greater proportion of proposals.

shipments from one category to been another if this proved desirablo. limiting their col--United Press.

The Japanese have voluntarily

*

*

*

(Am.

21%

British Governments were kile and closed virtually un- changed.

Gold and copper shares were lower. Dollar stocks and

Gorman Dawca Loan non- 24 asserted fell £1 and Young

Loan fell £4.

*

37%

Japanese bonds were quiet and unchanged.-United Press.

*

South Puerto Rico Sugar Southern Co. (Tha)

Southern National Gas Southern Railway (Com.) Standard Brands Standard Oll of Cal. Standard Oil of tna, Standard Oil of NJ. Sleep Rock (Toronto Exg Studebaker-Packard Corp. sunabing Mining

SINGAPORE

STOCKS

+

P2O B•I

B-IE

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. CO,

(twardn

'NAJMARA* "SOMALI" "SINGAPORE"

"CARTHAGE”

"CRUSAN"

"CANTON"" "SOUDAN"

Hossawarde

“HUNDA” offe

"SARTHAGE” "CHUSAN" "CANTON"

"CONFU"

Leaves London Sufted 10/11 Bolled 21/12 Sailed 6/13

Salted 11712 Salled 17/12

7th January tóth January

Leaves Hongkong

Tth Janu

Jith January

20th Januar

Das Hongkong

1st December 30th December

6th

January

13th

JanuaFT

IM

February

י 'מ:

0 February

the Indon

1900 Fabruare

t

February

February

11th February

14th

March

14 March

Tita

April

"SANGOLA"dus 77th Dev.

"OLINDA"

Singapore, Dec. 20. Brokers today quoted the

#

following stock prices:

Opentag

Lid

Datu Lintang Rubber Co.

British Boruto Patroleum

Syndicate

4711 4722

Consolidated Tun Smelters

20/04 Ord. Fearer & Neavo Ltd. Ont. $207 17 Fraser & Neavo 19% cum.

"TTOLA"

doe 6th Jan sail 7th Jan.

WON

No. 3

No. 4

TO-Thursday:

Exchange Rates

this

T/O: $139,000.

Light scale trading. T/O: $208,000,

London Metal Market

Am. Brake Shoe

American Cable & Radio Corp

Amerseas Станания Са

Amer, & For Power

AL GAS & Electric Am. Mach, & Fdy American Metal ... American Rafting Am. Sugar But, ma London, Dec. 19. The Un market was steady American Tel. & Tel with spot unchanged. Copper American Tob. "B"

Anaconda Copper

London Foreign and other metals were ateo Armo Biel

Exchange

Closing rates were:

steady today. Prices closed at Armour the end of the official morning

Baldwin-Lara-Lam. Baltimore & Ohio

sespium, ini sterling per tona | Deneticial Finance,

London, Dec. 19.

tou as follows: 3.00-7/14-3.50-9/18; New Yorkg Montreal: -232834-2.75461 Amsterdam: 10.00-10.0035: Brussels;

140.00 In

140.06: Copenhagen! 19.341-19.20; -5.06 Frankfurti 43.2036-21.7094: Milan: 13,43 | 114BY2-1743;1; Onl5: 20.00-20.01;

Dendix Aviation, Corp. Benguet Cogā jau Buyer Sellers Bethlehem Sieci

#pot 3-month Copper spot

S-month

Kurich:,: 18,995- | Zīna ma half dem. 92055.33.2021 others unshanged --United zing and FREE HERE.

731

Dosing Atryadiman w

Borden (@) Cò,

10016

.12045

Ikurroughs Add Machine

Campbell-Hour Co

canadian Suckin St.

71

CH:15:5).

RC Tractor

031

Business was done in the local unofficial exchange market morning at the following TALOR:~~~ 1,8, doller (pự (1) jok Sterling hotos (per £1)..... Attitralian Dates (per #1). Indonesian rupiah., (per 100) maura kloe) (per 100) ... Ringaporu çilirmitu) .....

13.00 1474736-18,473%;

1.21 Press.

Celtic Corp

GILT, Finance Corp.

Twentieth Century

Union Carbide ......

7214

Union Oil of Cal.

20%

Union Paco Rallway

Valled Aircraft

251

United Gea Corp.

4U.S. Gypsum

Ush Ling 60

119% 126. Bubber 器

17

28

U.S. Smeking

LUB, Bieel

Warn res.

Westinghouse Electric

Western Union Tel. Co

13917 West Va, Pulp & Paper

78) | Woolworth

United Prese.

Wearre Brow.....

Special.

exdir.-China

* NAMESAKES

0

Answers:-1 Puglits! Sharkey, 3 Glant, 4 Measure, Contestant, Champion, Heavy, 6 Beer, Punches, 10 Weight, 11 Resch, 12 Training,

Primo Carnėra.

SHIP

BENDLINE

Via Hingapore, Penang, Colombo, Rombay & Atem.

* "SUNDA" deit. Colombo a Bomba® cmix i Fort Budan, Jeddah, flavre & extends Hamburg, Rotterdam & Antwerp

BRITISH INDIA S.N. CO., LTD.

tails 2812 Dec

"SANTHIA" due 9th Jan,

salt 10th Jan.

Due 30th Jan, andle 31st Jan,

from Japan

to Singapore. Penan, Rangoon & Calcula

from Calcutta, Rangoon, Penma & Singapore for Japan

from Japan

for Singapore, Penang. Hangoon, Calcutta Chillsgone

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

7th Jun.

Jan.

from Japan

&

tor Singapore, Cochin, Karachi, Beersh, Chor- ramahatir & Kuwait

trom Japan

for Singapore, Madras, Colombo, Bombay. Bhanagar & Karachi

from Karachi, Bombay, Cochin & Singapore For Japan

from Singapore, Cochin, Bombay "Haruchi for Japan

EASTERN & AUSTRALIAN 5.S; CO., LTD.

"EASTERN" loads 2/4th Jan,

Baile

Bin Jan.

"ARAFURA” do® sth Jari.

rez Labuafi, Sandakan, Rahaul, Brisbane, Byd- sey, Mulbourne Adkiside

from Austraila

All verrels davé Úberty to mali at say półta se er of the routé à thé rente a pallings séu vukivil to change of amendment with my withows' možico,

For full particular, øpph, ta z

MACKINNON, MACKENZIE & CH OF HONG KONG LTD Telephone Nov 277!!

No. 2 rubber

No. 3 rubber

No. 1 crepe

OVERSLAS

further

on

2.25 nom.

2.55 nam. week:

New York Stock Exchange bond volume was $5,720,000.

American Stock Exchange volume was 700,000 shares. -

Closing Prices

some-

LIVERPOOL

future closings, Remained

Colton what hesitant, T/0: pence per 1b, were as follows:

Old contracts Dec/Ja $420,000,

27.00) Mar/Apr: 2700: May/June: Extremely quiel July/Aug: 27.80 Oct/Nov: 750

2d 50: Dea/In New contract:

27.50; conditions. T/O: Mar/Apr: 21.00; May/dune:

July/Aug: 27.00 Oct/Nov: 50 $307,000.

-United Pre

10

20.120;

Allied Chemicala

Allied Mills Inc.

· Prices tended ang T/O: $302,000.

10

Allis Chalmers ..

SINGAPORE The market opened higher on Friday: better

and advices

steadied market.

quiet There was some buying for Monday: Yugoslavia and Iron Curtain accounts; lower sheet interest:

Ball

but demand for Tuesday: Temilled grades continued. Futures:

No. 1 rubber per ib. Jan. 1314-63% Wednesday: Lack of interest.

Job. £34-KT

No, a rubber per 1. Jan. 0093-011%

spot rubber unbaled

Blanket crepe

Io. i pala crepa

78-

7314-7019 05-07

-United Preg

Swift Co.

Texas Co.

Textron Lo

Tide Water As, Oli

Time Inc.ury For Fin

pref.

$4.05 Gammon Malaya) Limited 232K Hongkong

Shanghal

"ITRIA"

нь

Banzing Corp.

$450

4137

Hongkong Thi Lic.

Kumpar Ltd.

30%

Kunko Kampar Th

Lunas Ilubber Estates

/od $1.05

"OBRA"

3

Sme Broweries

$342

Sorondan Rubber

"ITAURA"

Petaling Tin Ltd.

13,47%

10

Haffies Hot!......... Вилкарете

$7.00

1012) Зол

kalli 19th Jan.

das 4th Feb. salir 6th Feb.

199

Bteamship United Engineers Ord,

Straits Trading Storage

$18.20

diary

exall.

Mail