.
THE CHINA MAIL, FRIDAY, DECEMBER 27, · 1957,
CHINA THE HK STOCK EXCHANGE-1957
HONGKONG PUBLISHED DAILY (AFTERNOONS)
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of 60 cents la charged,
THE
THE most predominant feature to affect the Hongkong Stock Ex- change this year was the raising of the Bank Rate last September, which coupled with events that happened as back BB 1955 far thoroughly depressed the market, especially in the latter part of the year.
The initial cause of the market's chronic weakness was the Big Three Banks' decision in August, 1955, to impose credit restrictions in the Colony.. This all but killed speculative buying on the market and the in- crease in interest rates this year was the crowning blow to speculators as well as investors.
This year the market be- wholly investment market with Jittle or
came
-$50
-5AM
PRE-CHINESE" NEW
YEAR SELLING
$3.5m
-53m
INTERIMS DIVEN UP MARKET
{HK" BANK MOVE 10
DO AWAY WITH
·RESERVE LIABILITY
MIDDLE EAST cool bowks
-MY, MARKET GOES UP
PROFIT TAKING
DISARMAMENT TAINS PROGRESS
-$2.5m)
ISRAEL DEFIES UN
IN AQMA
[MONEY FLOWING]
·$2n-{
TO NY. MARKET
MIDDLE EAST UNSETTLED
WAR ATTERS
IN FAR EAST
31 5m
no
If not prepaid a booking foo Speculation at all, which is quite a change from former years.
Whether this is a good sign the murket has been dull throughout the remuins to whole year
WANTED KNOWN
SPORTST TIMPLEST 'ESKAMIL' conceals as it heal Get a handy tube today! Two sizes available from Icating Dispensaries nad Stores
GIFT8-Several abipments recently arrived. Over one thousand stirac- tive Reme. Daval Ltd,, Home AS- cessory and Gift Shop, Garden load. Kongkung.
MUSICAL
RECOMMENDED RECORD for are Chopin's Nocturnes.
be seen in the future.
Very Evident
THE change in the trend of
buying on the market is very evident in the total Strick Exchange business Gurts done this year. It dropped Handel's concert Crosal, Glon Miller over $50 million from Album, Artle Shaw Album. Schnabel $211 million to $146 million, Beethoven Complete Piano Sonatas, French, Italien, German, Spania This means a turnover of a Language Seu etc. For the best fas Topular and Classical records via little under $2.8 million Bases & Co.. 750, Alexandra House, each week. Last year there was a drop of more than $100 million in the yearly
Telephones 30:00, 23600.
NOTICE
All ex-students of St. Joseph's Covent, Shanghai, are cordially invited to attend the Mass which will be held at St. Teresa's Church at 6.00 p.m. on the 28th December in Thanksgiving for the Beatif. cation of Blessed Mary of Providence.
business.
-$1m
-$500.000-
JAN.
*FEB
Even the small investors on the murket took out their money and bought one or two flats
MARCH
APRIL
lure, and on adverse domestic news and business recession to- gether with lower prices for base whlic Investors fron metals, suffered heavily.
into the construction business
Partially by
HAY
JUNE
JULY
OU PORT MONEY FOURS IN
AUG
and in the case of the three t It Wax also, drawing money, utility companies, the dividends away from the market at a time were even higher than the res- when investment was badly in
Auip. pective company's own cailmales. need of
The main reason for the full was that several shareholders holding “big parcels had no wish to pay for nearly 40,000 shares changed this stage and hands in three days.
Southeast Asia pul their money These losses were pald for On the strength of the where they could get good re-ings in Hongkong securities marital rose to register further new shares at
the sale
of their dividend announcements, the turns and their money back in sales together with tight gains in the following week and three years.
money conditions had naturally the turnover topped $3.6 million a devastating effect on the local the highest turnover for stock market,
whole of this year.
Improvement
the
Watsons gave an unchanged dividend of $1 and one for six bonus issue, while Green Island anounced an unchanged divid- end of $4.
Easter
TIGHT MONEY
THE YEAR'S WEEKLY TURNOVERS
BANK RATE ANNOUNCEMENT
OCT.
TIGHT MONEY
TENSION DECREASES
UNCERTAINTIES
IN MID-EAST
NOV.
RUSSIA'S SPUTNIKS
DEC.
SEPT.
October and even farther ahead. cume very dull and listless for The buoyant state of the cotton the rest of the year, with the
reflected Industry was
In the majority of stocks reaching their Exchange with Textiles up to lows in the second half of the $4.875-their year's high-white | year, Nunyang wept up to $8.10. -
was attributed to a number of
The dult state of the market
over of the year--$1 millon: The Wall Street crash in October badly hurl many local investors. Business
your the decline in the market Rute announcement in Septe
With the approach of the half was increased with the Bank ber and later in November the Middle East crisis between The building business became
reasons. First was the renewed Turkey and Syria brought the so intense in the latter part of
bombardment of Quemay and market down to the lowest turn- this year that the hiterest uli
the news that, the UN forces in South Korca would get modern building mortgage went up from and in September 1.1 per cent to 1.5 per cent,
EASTER
holidays arms. There was also the fall two leading
THE
London and New brought about the long-In both the Chinese banks stopped advanc-DUT, since the improvement in
awaited recovery of the market to their clients the pound sterling and the for construction, and went into burst of the boom market in
when it closed on the Armest note for the first time this year the business themselves.
But there was no real follow- New York, the flight of expital | through to this improvement and at the end of April.
to reach their resistance level TN August the good business lower has levels which was accredited w Union Insurance which an- and closed the half year with 1 enjoyed by the wharves and
general Inek of interest and a
final dividend of sales at $1,630 for Banks, white | godowns pushed HK Wharves up wait and see allitude to Israel's £1. 2. 0, and a proposal that Unions were $88.50 on a buyer's to $125 their year's high. has holdout in Agaba. local
ing overdrafts
Muncy became so dear this year that local investors had to ind something more lucrative Usun the Hongkong Slock Apart from these, other in- from Hongkong for Investment the market fell down
speculative purposes Barrow Huences have made themselves and Exchange to invest in. ing from banks at six to chght | felt on top of the pinched slowed down considerably. per cent and putting it into the francial conditions. Stock Exchange and receiving
markels
A further factor that
depress the market was the call
With
for of
new
Local
DQ
companies.
the same yield was unprofitable. York and Canadian
Local interest in the New helped to Thus money was put into the construction: and real estale was slaggering. The weakness capital by a number
money business with the result that in sterling and the opportunity
Issues were this year there has been a real of making quick money in a tight, these new
not certainly
welcomed by bobra in the construction Bull market were the primary local investors and only helped AMENDED
multi-storey fats and offices. reasons.
to dampen the already dull NOTICE TO CONSIGNEES AL the moment there seems to
be no end to 11.
FROM HAMBURG, ANTWERP, ROTTERDAM, GENOA, & FORT SAID
Cubsignees per Company's Veysel
M.1. "ULDEKERK"
any hereby nefified that their cargo will be discharged into the Hong Kong Kowloon Wharl & Godowni Co. 13. for gauigares account and where it will lie" at conalgnec?! risk and expense and subject to terns and conillions of erage at
nounced
200,000
York markets.
been soft for some time, seem Dauks and Union, which had
£10 shares he anb-1 quote.
By A Special Correspondent
NOTICE TO CONSIGNEES NOTICE TO CONSIGNEES market for some months, jab in the arm in the latter part
Consignees per NIPPON, YUSEN RAISHA
sa/v “AIZU MAKLUM
"KENRYU MABU“
erelis ratified that their cargo is bel discharged into the Hong
the Hong Kong & Kowloon Wharton & Kowloon Wharf & Gotown & Gedown Cơ. Lid, The_cargo_is Co's gedowns where it will be al now ready for delivery from" the
consignees risk and subject to the Godown.
Wharfs tenne and candBinn storage, and where delivery may be
A broken, ehated and damaged goods are to be left in Uso Gedown Where they will be examined it the presence of consimeca" by Messrs. Guddard & Douglas on "the 24th & 27th December, 1957, at 10 4.75.
To comply with the General Bonded Warehouse Regulations,
Gons:gnees
mix have a Revenue Officer in altendance when dutluble goods are exbanized.
No cistin wit be admitted after the goods have left the ship and the Company's Godown.
All claim against the *teamer must be prevented to the undersigned en me before the 20th January, 1955. No Fire Insurance will be effected.
ROYAL INTEROUBAN LINKS
As General Agents:
1.0.A.2.
Hong Kong, 23rd December. 1967.
ublamed
Damaged packages are to be left in the godown for examination by Consteners and the Company's sur at 10 am on the 27th Terember, veyors, Movies. Guddart ez "Lamiglas
1937,
To comply with Che General Bonded Warehouse regulations, cone
£1 shares,
As the momentum gathered, market. speculators came Into the pic-
China Providents announced divided into ten Apart from the Middle East an unchanged $1 dividend.
Fosc $20 to $970 during this war scares, which the accom-
period, shows affected panying graph
The market had a welcomed There have been several smalier of March when the Hongkong Influences at work which have and Shonghai Bank disclosed stimulated or depressed trading that it was applying to amend for short periods. It Is more the ordinance allowing it to do mention these away with the Reserve Liability convenient to
Members. Business was was chronologically in the report of of the year's trading.
brisk and the majority of shpres led by Banks had gains.
Consignees per
"BENVANNOCIT"
hereby notified that their cargo I being discharged into the ong Kong & woon Wharf & Godown Col'a godown, wheye it will be st Consigneer risk and subject to the Whard's terme storage, and where delivery may be conditions of
aplained.
and
Damaged packages are to be left in the Godowns for examination by Consignees and the Company's siz veyņus. Merge Carmichael & Clarke, at 10 am, 27th December, 1857.
To comply with the General Donded Warehouse Begulations con. signees must have a fevenue Dmeer
In attendance, when damaged duti able sunds are examined.
No clans will be achatted after
signees must have a Revenue Officer the goods have left the steniner ́k
in attendance when damaged duti- | godowns, and all goods able goods are exantkand.
undellvered after the 28th Decem
(037, will be subject to rent.
~
£1
Bul the Improvement was short-lived and the market closed the following week with widespread small losses.
Surcharge
The year begun quietly but though the market was dull the first week showed small gains which was a continuation of the trend at the end of last year.
Anthony Eden's resignation produced hardly Any selling hesitant pressure although
nood developed, but with Harold Macmillan's
the
and Electrics appointment
SHINA Lights market's decline was checked were dull during this period higher because of the increase of the surcharge. As long as this was in force, it was not very convenient for either company to give out bonus Issues which had been expected by shareholders for some time.
and rose to slightly levels,
During this period, Banks, which made loo sharp a re- covery from $1,869 in December, All claim against the gleame: last year, to $1.870 in January,
the inder. be presented to
530 in the middle of signed on or before the 4th January, dropped 1958, or they will not be recognised the first month this year.
No Fire Iraker wil be acted
No elatin wit be admitted after the goods have left the steamer's godown. All claims against the mast steamers must be presented to Undersigned at or before the 19th January, 1938, or they with net be recognised.
the
No Fire Insurance will be elected
DODWELL & CO., LTD.
Agents,
NOTICE TO CONSIGNEES Hong Kong. 25th December, 1987,
Consiguous per
FUJI LINE
1/ "SEIYO MARU"
are hereby noted that thele cargo
has been discharged into The Chias
NOTICE TO CONSIGNEES
Consignees per
"BAYERNSTEIN"
W. R. LOXLEY & CO., LTD.
Agents.
The en Lina Steamers Ltd.
Hongkong, 251n December, 1907.
Wheelocks commanded a lot of attention as this stage reaching $7.40 with unsatisfied buyers. investors seemed to have over- come their doubts about - this particular stock and deelded it
good buy.
Reports of good business in the wharf and godown section, sent Hongkong Wharves up to $110 in one week from $103. Both Providents and Docks pro- itted from this report and rose to higher levels.
Fresh demands for villties in
cession in prices.
for
Docits went up to $55.
The
Government announce ment in September that it was examining the feasibility of building a cross-harbour bridge was the cause of Yaumati Ferry losing some ground but the de cline levelled off at $102.
Then the half-year announce- Green Island Cement took a ment that the Hongkong Bank bad beating from September to proposed a bonus issue of one the end of the year as Green
onc and an unchanged | island was caught in the middle dividend of £2 shot Banks up of the Sino-Japanese cement. 500 In one day to $1,790.
war in which the Chinese were trying to undercut Japanese cement.
With the tight money sluts- tion at the time, Pruvident's offer of a proposed issue on one in four at a premium of $5 the share would therefore cost $10was not well recolved at all on the Stock Exchange. They went down 80 cents in one week to $12.
Favourably
ANE Crawford reacted fav-
From a steady $32 in Septem- ber, the stock dropped to $22.10 In November when it was re- ported the three distributors had reached an agreement that a trade war was not advantageous to any of them. It was report- ed that they agreed to peg the price of their products, which would Take effecl from the middle of January
trading, the stock had climbed back to $20.80 with every like
thood of further galas.
At the elose of this year's
May sent the market on an up-Lourably to their dividend ward climb with blue chips
The buying announcement of $3 per share and R proposed leading the way.
urnus issue of one for onc. spree, however, tapered off to- (unchanged) wards the end of the month and
· The October announcement of profit-taking checked the ad-
dividend Although the electricity com- Wheelock's Anal
of ponies announced that they 371⁄2 cents was a disappointment Vance and caused a slight re-
would cut the surcharge rates, to stockholders, who were ex- The share slid Then at the end of of May it had little effect on Chinu pecting more.
one stage but re- Lights and Electrics which con- 25 cents at the market dropped to even
by utilities tinued to remain soft.
covered slightly to close at $7.45 after the China Lights fell to lower lower levels led
́dividend Tunnounce- levels on the announcement of a with a weekly turnover of just
The market got a temporary ment. AL the resumption of new issue. The shore's fall of under $2 million.
boost at the end of July when business after the Chinese New 50 cents was Indirectly res-
This completes a summary of Hongkong Telephone aquantity of outport money Year, prices showed smail gains ponsible
The the Hongkong Stock Exchange for the depression of
In the words of one turnover hit the $5 million mark in 1957. with Whaarver climbing up to virtually the whole utility scc- Company's expansion pinns poured into the market,
ed Phones up $1.20 in a week to $07.50 under the stimulus of tion in March.
close at $28.30. The following for the third and last time this broker-he has been | new buying pressure.
The issue was 1,840,000 shares week they rose to $28.80. year and the majority. of slocks Colony for many years-one of.
had gains.
the warst years since the occupa- Star Ferries announced an at $5 per at one for five. This
|;
tion. final dividend was a great Usappointment for
many as they had been expect ing a bonus issue.
NOTICE TO CONSIGNEES unchanged
Consignees per
"LEITZIO"
$5.50.
Dividends
beling diaparece into the Tong THEN in a flurry of dividend
announcements the market
Provident Lou & Mortgage Co. are hereby notified that their cargo Kong &z Kowloon Wharf & Godown Ltd. Godown where it will heat is being discharged into the Hong Co's godown, where it will be a registered a marked improve- consignees risk and subject to the Kong & Kowloon Wharf & Gouws Consignees risk and subject to the
turnover Company's, temu & conditions of Cok godown, ahere it will be at Whorf's termin and conditions of meat in the weekly storage and where delivery may be Consignees Tisk and subject to the storage, and whore delivery may be and an overall inércase in share
What's terma arü coiulilions of obtated. storage, and where delivery may be
obtained.
the
prices,
Damaged packages are to be la obtained.
Damaged, sckages are to be left the etdown for examination by
Phones announced a dividend In the lodowns for encamination by Consignees and the CompanyN POLA Damaged packages are to be tett Consigners and the Company's Fut-of $1.80 with 78 cents on their veyors, hirmus, qvador) "2" bough
In the Godowns for examination by veyors. Messrs. Paulgen | Be BayCR- new shares and cash bonuses of at 10 a.m. on the 18h TrạcsTabor, Consignees and the Company's mur Davy, at 10 a.m. 31st December, 1951. 25 cents and 18 cents respec- 1357.
veyor, Messed. Paulsen de Bayes- Davy, at 19 #30, 30th December, 1957. To comply With
Generatively, which was the same as To comply with the General
Bonded Warehouse Regulations Con- the previous year's declarations. Bonded Warehouso Regulations con- To comply with the General Pond- | signées trust have a' Revenue Officer signeću rovat leve a Revenus Omeered Warehouse Begulations Consignees in aftendance when damaged dou-
Trams gave a funi dividend în attendiqne when demnaged dutí- muai hayo Havenue Officer in Jable goods aro aknad.
with the 40 able 'gooda "are examloed.
of $1.10, which No claims will be admitted after cents interim made a total of the goods have left the stewŭRE'S rodowth, wxi All Foods Namint $1.70 against last years total of undelivered after the tat January, 1858, will be subject to rot,"
No claim will be admitted after the goods have left the
todown, and failure to attend faint damaged cargo survey will in- validate plima.
Claime must be presented within 16 days of the mine arrival of thay will not be recognised.
All goods remaining undelivered ather the 20th December, 1957, WIE be subject to rent.
hes beets
No ellected.
T4
EASTERN LLOYD LIMITED Agvnds,
FUJI STRANSKOP CO, LTD.
attendance when damaged -dutiable stoode and examined.
No claims will be admitted attor the goods have left the steamer's kodawa, ond all guode remaining undelivered after the Jit Dreember, 1957, will be subject to rent
1.00.
Lands had an unchanged An Claims praioat the stammer dividend of $1.73 paking $3.50 must be premated to the ung for the whole year. All Claims against the steamer jälgned on or before the th must be presented to the undersigned Junusky, 1956, or they will not his
nis de before the 28th January, 1958, recognised.
or they will not be recognised.
No Fire Lamurance will be affected.
JERSEN & CO. Agenti. HAMBURG-AMKNIKA LINIE. NORDDEUTSCHER LLAYA. Iona Cort, 24th December, 1957.
No Fire Insyocy will be effected
JESSEN & CO.
•ȚIAMDURO-AMERIKA LINJE. ́NORDUKITEGRER ZEXOP itong Kong, 29th December, 1987,
Electrics had a finot dividend of 90 cents which with their interim of $1.10 made a dividend of $2, 30 centa less than their previous year's dividend. But the actual distribution was up from $3,000,000 10 $2,800,000 due to new sharts,
All the dividenda' wara well (More Notices on Back "Fady) rpceived in Ico House Street,
UK Banks
Lombard
The
Around June it was reported that Hongkong cotton mills were booked up with orders up to
But in the following week the market dropped again and be-
Their Highest And Lowest
KB
- 23.40
1218
1954
1050
-1950
1957
1957
Hist
Low
Deo
fligh
Low
1957 Doo
1800
1055
1800
D10*
820
810
60
49
40%
30
3194
3214
Unions
1010
850
950
2615
15
Wheelocks
9.45
0.45
7.10
71
0.40
6.45
HIK WHAT
DB
70
125
DX
1185
HK Docks
48
$1
#214
5416
43
BIY
Provident HK Hotel HE Land TEK Bealty Hompater
15.70
13
13.80
13.70
11.40
11.70
18.70
13.30
14.80
16
13.00
14.70
71
61
3T*
37.25
31.25
8.05
1.335
1.876
1.625
1.30
LADE
2014
1730
18.80
10.80
10
15.80%
25%
38.60
· 2315
21.80
Star Ferry Yauma
144
111
121
144
✔
21.30 187
110
修
105
298
0876
2.5.20
10.30
21.00
19.00*
15.50
17
In Electrics
#8%
8134
814
20.20
2040
HK Telephoto G.L. Cament Dalry 'Parin A.S. Wetsom 1. Crawford Allied
35
21.30
24.50
#714
20.30
2.4.10
**
20.10
28.80
19.30
1410
10.10
16.50
14.00
15.80
16%
10.10
19.00
18.40*
11.30
11.006
30
10.20
29.60
12.70
14.30
5.95
4.00
4.65
2.70
2.05
8.30
4.50
6.20
6.280
9.30
1.69
11
0.84
5.85
4.400
4.875
4.30
7.34
7.20
7.35
9.95
8.780
Bonus lands or new lego'
Oh Llilifa
Yang layo
40
05
1.200
th
Recovering
tho
THE market is just recovering from the September Bank Rato Increase and getting back into harness. It is now more or less consolidating Ita position and wo can expect bulli markot next
ay the усаг majority of companies had bet- ter years—although money WO3 tight-and a number are ex- pending
Good dividends are coming alung and the outlook for next good especially with year is shares so cheap now,
At their present levels they aro good utilities and buys especially stores..
Money still seems to be pour- Ing into the construction business and the end does not seem to be in sight yet.
If the recession in real estate coincides with a lowering in Interest rates next year, there should be a real boom on the market.
Bul day to day international. events overshadow all considera- tions so although the outlook
year is "optimistic, po never knows what welžk happen.
for next
No comments yet.
Private notes are available after approval.