1958-02-28 — Page 9

THE CHINA MAIL, FRIDAY, FEBRUARY 28, 1958.

TRADE and COMMERCE SECTION

Pago 0

MARKET HAS MILD BOOM The New York

NEW YORK

RUBBER

Hotels Start

MARKET Chain Reaction

New York, Feb. 27.

Rax rubber futures today

closed 25 to 34 points lower with sales of 69

contracts.

March

May

July

Bapt.

Nov.

MAT.

26.40 26,70 26.03

26,03

20.02

26.03

24.05

Standard contract closed 25 to

31 points lower with

reported.

Marchi

May

July

Hept.

Nov.

Jan

Маг

TURNOVER UP TO $5M

By A SPECIAL CORRESPONDENT

The Hongkong Stock Exchange this week experienced a mild boom which, if sustained, may be the turning point for the market.

no salca At present it is still too early to say whether the market will continue its upward trend, which is very encouraging in view of the depressed state of the market during the past year.

28.40

20.70

21.21

20.00

28.12

20.03

28.05

Around this time last year, when companies were declaring up Prices ensed in quiet dealings dividends, the market shot

was not sustained While traders awaited further but the rise

and the market fell back ond Indonesinn

political develop-

became dull and featureless for convincing ments or n more pick-up in domestic consumer the rest of the year. buying interest,

In the

The renewed interest market began on Monday when the announcement of the

increase per cent

Dealers were on both sides of the market in a small way. Some selling here was presum- ed to be on arbitrage operations distribution this year had

against London purchases.

In the shipment market, busi- ress remained light with offer- to interest ings stil too high

ont

local buyers. However, in the deliveries market locally some April four sheets were done at 24% cents and March Ave sheets at 22 cents a pound,

number Further out,

delivery Oct/Dec. shecta for were quoted at 20% bid with sellers holding 4 cent higher, Spot No. 1 Ras was quoted at 20% cents.

SINGAPORE

With slight improvement in overnenz mürkels and some re-

in Russian enquiry ported

opened London, the market higher and ruteri qulet through out the moming, and after the market steadied slightly on some reported China advices.

Purther hedge selling and liquidation Federation Goine caused the market to case back night's Bust

to inst Futures:

effect on the market.

In

Dividend

and closed $1.70 higher than the previou» weck's level.

Dairy Farms were a strong feature and in face of heavy Hiquidation on Tuesday, when shares approximately 28,000 changed hands, they actually 10 advanced by 60 cetils $17.10.

100 Hotels'

lés

Ulities were generally in good demand with Yauinatis and China Lighte showbig

This dividend of $1.50 and a bonus of 50 cents (it was $1 last year) was well received on the market, and Hotels shot up from to $10.40 on Monday

Friday. $10.00, the previous Proll-taking, however, rent the share down to lower levels during the next few days, bul it climbed back to a steady $18.30 at the close yesterday.

The lack of interest in invest- ing in real estate at the present has diverted money back into a larger the market, "causing

Ice House volume of trade In Street and prices to harden.

most improvement,.

China Providenis and Docks

xx Bank Lordbard Ubizn Wherlock HK "Wharf KK Docks

A Glance

Feb 27 810x1

*

Up dr

Cotton Market

New York, Feb. 27. Cotton futures today vigorously resumed the re- cent upswing, registering galks up to $2 á bale as all new crop deliveries swept to season highs.

* The Share Market At

Jan-80

Feb 6

Feb 13

Feb 20

Doree

8324

835

835

.835

stody

.

32b

334

3334

33

steady

70

G9b

71

70

-500

6.70

6.45x4

4.25

0.30

0,30

steady

Closing at

1201

120

118

119nd

121m

52

the day's best bet. levels the ilst showed not paina.

20,000

187,400

50,000

107,100

50

51

BIKO

8514

+*

of 13 to

Provident

12

12.40

12.20b

12.30b

12.80

+500

45 points. Opening ay prices were up 6 to 22 points, Fuly

10500

95,000

20,000

106.800

01.200

UK Hotela

£0.60

19.00

18.60

18.00

18.30

+9170

UK Lands

13

8434

34

Jay

150

New Orleans closed up 39 to 43 Total points.

14:00 1,137,000 bales

NEW YORK

IK Realty

1.35

1.358

1.356

1.35b

1.375

HK Trams

23.80

2430

24.30

24.60

+2140

24.60

stendy

124m

12413.

12436m

123

118x4

540

071⁄2

9772b

101

+$3.50

16.90

17.40

17.20

17.20

17.80

+400

20.00

28.50

28.20

28

27.80

200

20.30

37.20

27.30

27.40

27.50

+100

20

26.30

26.108

23.60

24.80

-800

16.10

16.50

10

16.50

17.10

4.600

12.201

12.30

12.10

12b

12.10

+100

B.10

0.45b

5.50n

3.800

8.500

steady

3.0780

3.70

3.675

3.60b

8.675

+7/20

101

10

10%

0.800

9.85

steady

4.575n 5.40:

4.50b 8.00

4.50b

4.55

4.65

+100

8.000

8.55b

8.00

+350

Blar Ferry

Yaumatis

Ch Lights Elcotrien

HK Telephoto G.I. Cement Dairy Farm A.8. Watson Vangisze Allled

HK & FE Inv Textile Corp Nanyang

+500

New York LONDON STOCK

The New

Stock

Market

New York, Feb. 27.

were bright spots, execially Dividend cuts and price reductions hit the copper

the latter, which were mark-

ed up sharply to $55:50 en the closing day, a gain of $4.

Elewitere enquiry wa

оп

a trhler scale and the market closed stendr and firm.

Market Diary

group today with Phelps Dodge losing nearly

2 points as did International Nickel and

Anaconda.

The best performers in the enerally lower market includ- Ed some of the steels, oils, ralls anl special issuca. Lukens stood out in its section with a

Here is a market diary of rise of more than a point. Lead-

the week:

Friday:

Monday:

Dull and featureless. T/O: $400,000.

Ulities inclined to be a shade of. T/O: $078,000. Fairly heavy selling pressure. T/O: $1,530,000. Wednesday: Prices tending to harden. T/O: $765,000.

Sustained buying pressure, T/O: $1,374,000.

The market was quick to re- | Tuesday; act to the Interest sparked. In. utilities Hotels and soon with in the lead, the whole, market began to improve.

Although sciting pressure was heavy at times, the serip was

were Thursday: 701-7015 well absorbed and prices Apr.

weil maintained. Kenerally 104-1192 Prices started to harden under sustained buying pressure later

levels:

No. 1 rubber per lb. Mar. 781-7015 No. 2 rubber per 1b. Mar.. 74945 No. 3

No. 4

"

Spot rubber unhaled....

Elanket crepe

No. 1 pale crepe

LONDON

19-13

75-76 in the week. 06-13

811-83

The rubber market was very quiet with spot quoted at 22% pence per lb. Prices:

No. 1 Ins spot

Belticment house ferm:

April

May

June

Aprit/June

July/Sept.

Oct./Dec.

227-23

23-23 23-2312 23-24 23-233 231-23 231-2313 Ceneral markets ciz basis, ports:

2214-23 March, April and May Enste crepe thin March 2412

thick March 23 AMSTERDAM

The rubber market was dull. Prices closed today in guilders per kilogram, cif March as fol-

lows:

No rubber Na, rubber No. 3 rubber

grepe

No.

2.20 nom. 2.14 nom. 2.00 nom.

3.35 nom.

United Press,

New York Metal Futures

New York, Feb. 27. Prices of metal futures closed

Good Year

A number of Issues climbed quieldly up to higher ground during the week on the strength of views th Ice House Street that if Hotels had such a food year, then other companies may have had just as good a year, und there

would

increased be dividends this year.

that were Among the issues very active during the pan few days were Dairy Farms, which rose to $17.10 yesterday from $16.50 last week: Docks, $51.30 buyers to $55; Providents, from $12.30 buyers to 512.80; and Yaumatis, from $87.50 buy- cra to $101.

from

HONGKONG STOCK EXCHANGE

Our Own Correspondent

ing steels yielded fractions.

up.

Stock Exgc.) Mesabi Iron Corp. Monsanto Chemical Co. Merdgomery Ward Motorola Inc. National Cash Reg. "A" National Dairy Prod.

National Lead Corp.

Notional

New York Central Norfolk & Western Ry. On Maison Rallway our Elevators

Con-own-lilincis Glas

Such rails as a Chesapeake & Oblo

Southern and ginged to move tolidated Natural Gas armed while Panhandle Eastern Pipo Lite felt more than a point in Standard Oil of the utilities. California and Toxas Co. arm ed in the oils,

Chemicals lost ground. Haveg, and Tennessee Pitney Bowes, Corp Armed in the specials.

The main list recoded on re- duced volume.

Of

a total 1,074 issues traded 589 were lower, 274 higher.

New York Stock Exchange volume was 1,070,000 shares

New York Stock Exchange bond volume was $3,530,000,

American Stock Exchange volume was $10,000 shares.

Dow-Jones closing averages

were!

30 industrials

20 Talk!

15 utililles

d5 stocker

43 borda

Comm. future price index

Closing Prices

Alled Chemicals

Aled My Inc.

Allis Chalme

Ani. Brako Shoe

Business done on the Heugkong Americm, Airine Stock Exchange this morning American Cyanamid Co. amounted

10 approximately At & Forgn, Power

Am Gas de Electrie $128,000. Noon quotations and

Am. Mach. de F“dry, the morning's transactions were:

American total Am. Sugar Rel. Amertoon Tet & Tei American Toh. "B" Auconda Copper Arzneo Steel... Armour

Alten

BANKS

3

In the cotton section, Nanyang HK_Bask tacked on 35 cents to close at $8.00 while Textile Corporation SILIPTING increased ten cents with sales. Waterboat at $4.05.

The turnover of 15.01 million was the highest this year with two dally turnovers of over & of a bullish million. A sign market was in the tally, which was 14 higher, six steady and

Wheelock

Buyers Bellets

POCKS, ETC. K. Whart. Dock Provident,

today in cents per b. as fol-four lower compared with eight 105 Hotel,

XD

Atlas Con

Mining

Baldwin-Linn-lam.

Baltimore & Ohio

Beneficial Finance

Bendix Aviation Corp.

Benguet Cona,

Itelchem Steel

Bosing Airplane

Borden (Machine Burroughs

11.00 Campbell Soup Co.

810 RCO

20.60

8.25

6.30 3770 2

0.00

220

54 55.00

12.000 12.00

100

.... 11.00 11.00

300

LAND, ETC.

lows:

Lead March

May

11265

higher, eight unchanged and Land. 333 33.18 1120 eight lower last week.

Bumpyw

10.30 1640

500 @ 10.40)

200 @ 33.50

Zinc

March

14.90 16.20 Realty ....

139 140

MAY

8.35b

20.000

Cheerful

26.046

Tin

May March

ETAB

May

93.50%

United Fres

market.

Hero L an Ice House Street UTILITIES observer'a account of the Teen 2140 2400 1000 24 50

Star Ferry

хо Yaumati****

RUBBER Amaly. Trust.

1.25 3000 0 1.25

122

101

17:50

500 @ 7.50

Copper March

London Metal Prices

דולב

London, Feb. 27. Prices of metals closed today in sterling per long ton as fol- lows:

Tin apof

3-month

Buy Sellers

75993

700

Copper put

1032

1023

-month

1611%

1821

Load and helt

Pina

2nd hall

01245

-United Prem.

NAMESAKES

Answers: X Jovial, Laughter, 3 Comedy, 4 Jokes, Waters, doppieuws, 7 Entertains,

Cockney,

Police

2) Churcaong

Jack Waren

100

Following a steady open- Light ing after tie, Chinese New Year the Stock Market

bad Electic XD 1707.2013

20.40

one of its most cheerful works Telephone 27.30 27.00

for some time with the over- all turnover execoding the $5 milijati pénak.

Although the market was heavy subjected to falety

on Tuesday, relling pressuTO norip was well absorbed, with virtúnily..

roccasion prices in the heaviest day's

Ра

trading of the wock.

in

the

Having driñcome this shako- dus, buren · dominatoa marked throughout the KO- mainder of the week with příóòs, advanckig.......ón, a' wide froak

INDUSTRIALS

Atney Can $7.70

STORES, ETC,

Dalry 10 17.30 Walden

Lane, Crow 14.30 COTIONS Textiles.. Nanyang MISCELLANEOUS Vibro

4.06 4075, 5000 ©

0.00

13.30

4.09

1.00

INVESTMENTE

Invest.

Exchange Rates

Hotex shares were, Best to PROSENT,

ftioronat, in distribution to abarsholders for the yong 1957,

Canadian Pacião R,

Casa (T. 1) Co.

Cal. Tractor

Celance Corp.

C. F.. T. Financial Corp.

Chrysler Motora Cluelt Peabody ... Colgate-Palmolive C Columbian Carbon Co. Commercial Credik Common wool th Elec, Consolidated Edison Continental Oil of Del Crown Zollerbach Cuban Amer. Bugar Diamond Alkali Diamond Match Co. Dougian Airzaft. Dow Chemicals For Dupont de Nemours Extern Airline

Fastman Kodak

El Paso, National Des Family Finance Corp.

Firestone Tyre & Rubber Ford Motor ...

General Toecirte

General Toode

General MOLOTE

Gen. Pub. Um. Getty 01.

Chaden Co. For Goodrich (. .) Co. Goodyear Tyre

Gulf On

Heyden Newport Corp. Jiamostako Mining Co. Ingersoll-Itand.

Infant Steel Co.

Ict Business Machines Int'l Harvester · International-- Nfaltni International · Paper TOS) SWL ANI

| John-Manville Cas

Bure was "doesakes; the Spaak -Janaffia)

*monijork....... Chan UN following caleasa

Lingik: Mpymw z3B/:06.

10.20

Lone Star, Cement pr Lowetwtein, le Bona.

Binen tion) (E-309) discmpore. (Stratte)

3630

437 BO 102.70

12.01

140.15

120

100

word Reper Co Pacific Gas & Eice. Pan American Airways Parameint Pictures Parke Dayla Co. Penny JC, Co.

Fenn Salt Co. Philip Morris Procter & Gamble Co. Publicker Industries Pure Ou.... Radio Corporation Radio Com. Prot. Republie Steel

Reynolds Meinl ....... Sears, Roebuck & Co. Shell Oil Co...

Saint leg. Paper

glastair O

Blocery Moblinli Bolar Atecraft............. Bouth Puerto Rico Sugar Southern Co. (The) Southern Nailonal Cha Southern Railway (Com.) Standard Brands

Standard Oll of Cal Standard Of of Ind Standard Oil of N.J. Steep Rock (Toronto Exgo.) Bterling Drug Co.

Studebaker-Packard

Sunshine Mining

Swift & Co.

Texas Co.

Textron Inc.

Corp."

Tido Water Assn. Oil

Twentieth Century Fox Filin

Time Inc.

$ 70

Union Carbide

50%

Union Oll of Cal.

Union Pacle Raliway

United Aircraft

17th United Gas Corp.

70

UA. Fell "F"

12.9. Gypsum

UB. Line Co.

(34%) US. Rubber

1915 U.S. Smelling

US. Bizet

MARKET

ខ ឥ

Main price lifting power Prices of cotton futures closed again WDY generated by today as follows: possibility of an increase in soll bank funds, and congressional opposition to any administration plan to lower prico supports. Agitation aimed at ousting Agriculture Secretary Benson strengthened that viewpoint.

Market experts figured Con gress voted the additional soll bank funds, upwards of 8,000,- G06 acres may be taken out of cultivation this year.

That would put the acrenge Into around 12,500,000 com- pared with last year's harvest: ed area of 13,681,000 acres. The allotment for this year is 17,- 508,000 acres.

Old

carried crop months along with the rise aided by the lesuance of only one delivery netice for 500 bales at Char- Itston. Leading interests were 15,000 sellers of upwards of

London, Feb. 27. The market was steady to: bales in the forenoon.

day with a turnover of Month 7,787 bargains. But it was March...... still too small to suggest | "suly

a strong upward trend.

Chief stimuli came from the

rings reports of the Peninsu

lor and Orient-plus a rico in

20

322

4032

tho dividend and of Alfred

makers Herbert,

of loading machine tools, and of Hoover Shares of the arst two jumped 41- and enjoyed even then a Arm demand.

१६००

But in the main the leading were unchanged Industrlots except a few enses, up Bd. Ou shilling. Rolls-Royce gain-

1315

or s

ed

Chemicals 94.

20

309

a shilling and

Imperlai

Oils were firm with Royal Dutch up 87 (though Shell was others And the unchanged)

were up shilling.or 1/6.

Germang were pressed for sale today presumably in at tempts to take profils with Dawes Loan down £1 and the Young Loon

non-nssented and

£2 for the

£1 for the

assented. Japanese were again

ile and unchanged.

Dollar stocks were generally

44 higher with the premium up

1544

to 54 per cent.

long-

British Government dateds were strong with rises

of or 5/16th.-United Press,

SINGAPORE STOCKS

Singapore, Feb. 20. Brokers today quoted 'the

24% following stock prices:

2016 Consolidated Tin Emellers

Ord,

May

*

*

*

Volume

0,500

24,000

10,000

Bpot

Mar.

May

July

Oct;

Dec.

Mer. May

NEW ORLEANS

Pricus of colton futures closed today as follows:

Spot

Mar,

July

Dác

Mar

May July

RECARRAS

BAO PAULO Cotton future closings, in cruzeiros per klia wetu as fol-

Iowa:

Dee, 10.40: others unchanged.

The average price of one-iheli cotton at 14 desingated spot Open interest | markets were $4.50 cents,

44,000

Total sales were 22,253 bates, 308,000 228,400

- United Press.

P.OBI EA

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. C.

Outwards

"SURAT

"CORFU" "KARMALA" "CARTHAGB"

**CHUSAN"

Homewards

"Confu"

"SOUDAN "CARTHAGE" "CHUSAN" +

Leaves London Due Bongkang

Balled 23/1

20th March

Salled 1/2

10th March

15th February

Bit March

1th April 7th April

10th Apest

18th March

Leaves Hongkong Das London

14th - March 10th March

24th April

Hih April

11th April

14th May

20th Abelt

24h May

Via 'pore, Penang, Colombo, nombay, Aden a Pi, Buía. ↑ "CHUSAN" also calls Marseilės. BOUDAN" calile Colombo, Bombay, talia Marsè and

extends Hamburg, Rotterdam & Antwery.

8746

Opening

43

291% Syndicate

Batu Lintang Rubber Co. 251% Ltd. 55 Briti Borneo

$1.57

Petroleum

*

2314

28s Ed

20

Fraser & Neave Lid. Ord... $2.675 313 Fraser & Neave 1 cum.

+

"SANGOLA”due Tih bar. KAS 0 MAK.

29.

prof

6016 Commons (Balaya) Ltd. $2.30

*

17212

Wamer Bros.

10

101

Wortinghouse Electric

Western Union Tel, Co.

37

Cosing Corp.

Hongkong & Shanghai Bank-

$440 ►

"rturata đục QUA NHI

Hongkong Tin Ltd.

58 34

4311

1334

West Va. Pulp & Paper **** Woolworth

Kumpas Ltd.

$1.07

United Prem.

4136) Icuala Kampar Tin ....

Lunas Rubber Estates Ltd. 1.05 Malayan Dreweries ** New Berandah Thibber Co.

Ltd.

$3.60

Petaling Tin Ltd.

Flames Hotel **

12.60 91.76 $2.80

"URLANA" due 20th Feb,

Bingapore Cold Storage

Stratte Trading

“ORRA"

Strain Steamalip

United Engineeri

Wear Bros.

exdly: † cdcb. China Speel.

Mall

*ITAURA”*

1.01 3/10

2.81 5/16

80

New York Foreign

Exchange

New York, Feb. 27. Closing rates werei

Canada England official

+

Austraila

30-days

10-days

New Zealand South Africa ...

Indi

Pakistan

2,78

2.23

2.00 5/16

2.00 11/10

14

Others sinchanged.--United Press.

New York Sugar

Market

Now York, Fob. 27. World No. 4 muster futures closed today 2 to 10 points salto.of 8BD con-

London Foreign lower with

Exchange

Landou; Feb. 27. Closing rates were:

Now York

Muntreat Amulendum Copes Ligus 23% Frankfurt

BOR%

Milan

21 Zurich.

100

Öfkers, unchang

tracts.

Dartiestic No, o sugar futures closed today unchanged to 2 point higher with males of 18 bontracta.

Contract No. 4 (work): March, 140: May, 3.50; dept., 244; Oct. 4.81-1/16-2,8134 | 3451 Mamo, 343;, MAYA 343; 8006

ib, tob Cuba). FAR. peter0041 0.431 contrasts.

Open

Contract No.. D (domestic) - May, 400; July, Ba: Sept., 8.70: Nov, 034; Bpoc-(cante per is, cif 32 «n-duty),

"Open interent: 1,581 contracte.--- Called Press.

SHIP

BENBLINE

*

BRITISH INDIA S.N, CO., LTD.

its 11th 4.

from Jan.

for Sugapore, Penang. Bangoon,&

Caloutle

{eam Jagas for Bmpspace, Panang, Rangoon, Calcutta Chittagong

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

'sails lat Mar.

dua Bth Mar. Walks 10th Mar,

due Bih Mar, salla 11 Mar.

from Karachi,' Madras, Penang Singapore for Japan

from Jepan

for Bingapura, Madras, Dombay & Bhavnager

from Japan

for Singapore, Penang, 230 m2).

Karachi Hash, Khoramshahr A Kuwalt

frem Bombay, Karachi. Cochin, Alleppey, Tuti porio de Bingapore for Jooen

“OZARDA” due 10th Mar.

-BRID 11th Mar.

EASTERN & AUSTRALIAN $.5, CO., LTD..

*

"NELLORE" in Fort K/W

*

Pler #

Kalle Lot Mat.

*

"NANKIN đ

Uth Man, Batis 10th Mar,

from_Japans

for Labio, `Sandakan, Brisbane By 2005 Adelaide de adekbourne

from Australia

All vessels buvo liberty to tall at any porty an `of of the route du the rotte di milings are puklost, 'tu change or amendment with or withous motico,

For full particulars apply to: MACKINNON, MACKENZIE A CO.

OF HONG KOVA 1]Ð : Telephone Nus: 277214