THE CHINA MAIL, FRIDAY, MARCH 7, 1958.
TRADE and COMMERCE SECTION
|
BUYERS BECOME RELUCTANT LONDON STOCK NEW YORK
NEW YORK RUBBER MARKET
Now York, Mar. 6.
Rex rubber futures today
Market Turns Dull As
Trade Slackens
By A SPECIAL CORRESPONDENT
closed 10 to 17 points The Stock Market turned dull after last
higher with sales of 49 contracts.
March
May
July
Sept.
Nov.
Jan.
Mar.
wook's mild boom
reluctant to extend their commitments,
HK Bank Lombard
MARKET
London, Mar. 6. Industrial stocks, advanced
on the London Exchange modorate trading.
Government bonda British gave ground, reflecting concern of sterling In foreign exchango trading.
There was a fair amount of
demand for industrials, which
SUGAR MARKET
Now York, Mar. 6. World No. 4 sugar futuros closed today two to fivo points highor with sales of 250 contracts.
Domestie No.0 sugar futures
tracts.
газо
Futures were firmer with the market and reports of aliffening resistance by Cuban sellers are tho recent prices.
sow gains running to more than closed unchanged to 5 points 2/-in Rolls-Royce, Ford, English higher with sales of 104 con- Electric and C. A, Parsons all featured on the upside,
British Olle met support. Petroleum climbed more than 3/- while Shell, Royal Dutch and Canadian Eagle all rose more than 2/-. Dollar slocks firmed.
Foreign bonds were neglected credited buyer of 8,000 tons of for the most part. A couple of Cubana for shipment during German Hens moved ahead but July/Sept with the price. still volume Was light, United to be determined.
Switzerland wag
Iow
the c-
* The Share Market
At A Glance ★
Feb 0
Fob 12
635
835
#3
38
Union
70
89b
Feb 20 835
334 71
Feb 27
810x1
83m
Mar 810%
3834
Up or Bowti
steady
steady
TOYAR
20
-590
Wheelock
0.25xd
0.25
0.30
6.30
4.25
DK Wharf
120
118
110m
121m
121
leady
HK Dooks
50
$14.
514b
55%
Provident
12.10
12.201
12.30b
12.80
B4% 12341
300
UK Hotels
10.00
10.60
16.00
• 18.30
15.80mxd -500
HK Lands
3434
24
34m
93
3334
+500
UK Realty
1.35
1,350
1.38b
1.375
1.3753
steady
as buyers were
HK Trams
24.30
24.30
24.00
24.60
28mxd
-300
Star Ferry
124n
1244m
123
118xd
118
Yanmatis
0735
0714
07b
101
$84b
steady $2.50
Ch Lights
17.40
17.20
17.10
17.50
17.80
steady
28.32
26.57
Trading
ZA.70
26.75
20.75
21.73
to $2,540,000, ap- Amounted sinckened towards
proximately 50 per cent less the end of this week with some light seale
Than the previous week. Niquidation at the beginning of the week.
Electrics
28.00
28.20
28
27.80
20.50xd
MK Telephons
27.20
27.30
27.40
27.50
25.70x1
ready -50
G.L. Cement
20.89
26.109
26.60
24.80%
21.000xd -200
Dalry Farm
150
10%
18.69
17.10
17.10 steady
20.75
A.B. Watson
12.30
12.10
126
12.10%
129
on
Yangtze
15.45b
B.Con
5.500
6.501
5.50%
-100 steady
Press.
Allled
3.70
9.075
5.00b
8.035
28.2
20.57
HK & FE Inv Textile Corp Nanyang
1001
100
0.80b
8.80
3.00 9.80b
steady
Centret No. 4 (world)
4.50b 8.00
4.500
4.56
4.65
4.10b
09-
8.50b
8.45b
3.00
0.15
+250
London Metal
May
.40b
July
Sept.
Oct.
2.73
20.75
28.76
20.11
Mar.
May
Spot-cents per lb. fob Cuba)
3,34
Open interest: 5.328 contracts.
per long ton
程牙
Contract No. 6 (domestic)
Buyers Seller
709
737
May
៩.
3-month
741
Copper spot
10015
107
July
4.70
.3-month
100
Sept.
Lead 1st half Mar.
7345
Nov.
June Zin 1st half Mar.
Spot-icenta ver b. elf NY ex-
duty)
5.48
June
0511
Opeil
interest; 1.030
contracts.---
-United Pers.
United Press,
Standard contract closed 19 to 17 points higher with no sales reported.
Mareli
May
July
Bept.
Nov.
Jan.
Mar.
2.70
Terminal market ruled quiet and steady, taking a cue from the London and reflecting seller cautiouess pending Indonesian developments.
Domestic factories and other show continuta consumera
fractionally Prices drifted lower especially ties, many which were quoted ex- dividend this week.
1
Most of the favourites, such us Docks and Hotels lost ground due to lack of support,
Disappoint
Provident's dividend appeared the market, and to disappoint they closed at $12.50 sellers with Lost week they na buyers. were up to $12.00.
Lack of support, and some Ucht scale liquidation Tuesday, caused a number of counters to drift fractionally
·lower.
Bullies were all inclined to be a shade off, and other re- cent favourites to yield ground were Hotels, Providenta and Docks.
There were a few firm spots however,
notably in Labe Crawfords and Nanyang which both tacked on useful and whilst Wharves gain Dairy Farms remained steady throughout.
Elsewhere
dealings were light and price changes nerBgible.
The two shares to make pro- this week were Lands, Kress а hally anything more than roulino interest. Sipments which have been in good de
Collon, offerings were reported in fair mund, and Nanyang
$33.25 inst quant!ües but a prices beyond Lands rose from
week to $33.75 yesterday, white the views of loen buyeTS,
Nanyang had a sale ai 30.15 This was a rise of tonnage actually yesterday. A small mayod included
two 25 cents over the week. DOING sheets out of Thailand at 25 cost and
The slow movement on the cente, March/April,
market was evident in the Friday! freight. Ono heels were dono out of Indonesia at 20 cents, weekly turnover which amount- March/April, cost and freight, ed to $2.54 million-just half of
last week's turnover. Spot No. 1 tus locally quoted at 20 cents.
SINGAPORE
The market
was quiet
W24
with some interest in lower grudes, Futures:
No. 1 rubber per 1b. Mar.
No. 2 rubber per 1b. Mar
No, 3
No. 4
2
Spot rubber unbated
Blanket crepe
No. 1 palo crepe
LONDON
123-779
12
Market Diary
Here is a market diary of the week:
was two higher, ton Monday: Tally unchanged and 12 lower com- pared with 14 higher, six stendy and four lower inst week.
Dividends
Tuesday:
Traders
The New
York NEW YORK
Stock Market
New York, Mar. 6.
Steel shares met demand near closing today on the stock market to sustain a sharp rise led earlier in the session by oils.
Oils slipped from their best Minnesota Mining
Monsanto Chemica Co. reluctant levels but held good gains. The Men Development to extend commit-alocis had advances ranging to Montgomery Ward
in Youngstown Sheet Molaret e mets, T/O; $474,3 points
end Tube. Du Pont made u 000,
strong advance in the chemicals.
Moderate trading. T/O: $856,000.
But it
which was to rails stood out as strong performers,
has been Light senle liqulda-This group
lagging its averago tion. T/O: $781,000. recently. Today
made its best gain since Jan. 25. Wednesday: Little interest. T/O:
$177,000,
China Providents
declared Thursday: dividend of $1 and a bonus of 604-704% 06-07 10 cents per old share. During 77-774% the year a new issue of one for 6415-0015 7815-20 tour al a premium of $5 (making $10) was offered. Last year's dividend was $1.
The rubber market was quiet
with after steady
spot 22-13/10 pence per lb. Prices
211
No. 1 I spot. Settlement house tum
2214-227
April
221-23
Muy
937-23
June
2211-27
Apri/June
23
July/Seat
Det./Dec.
Jan./Mar,
2311-231
23-201 2231-201
March, April and May
..
227-23
Extale erepe thin April
thick Apist..
AMSTERDAM
rubber
nusket
General markets, if baris. ports:
רי!
North Point Wharves declared a dividend of 75 cents.'
Watsons declared a A. S. dividend of $1 which was un- changed from last year, but last year they also issued one new ahare for every six held;
declared 1
cents
Vibro Piling dividend of $1 with a bonus of $1.25 this year which le more than last year's dividend of $1 and a bonus of $1,
Slowed Down
National Steel Corp. New York Centroi Hartalk & Westem By
731%
41
National Cash Reg. "A National Dairy Prod. National Lead......
37
4342
141
BETZ
30
0512
03
Olin Mathieson
outs Elevatore Owen-Illinois Gian
Oxford Paper Co. Pacific Gire & Elec. Pan American Airway The general market Average Paramount Pictures an touched its best level since Feb. Parke Davis Ca Du11 conditions.7 with volume at a new highPenny 3. C. Ca. TVO: $258,000.
HONGKONG
STOCK
EXCHANGE
to
Since Feb. 5.
Of a total 1,127 issues traded, GOB were higher, only 206 lower.
New York Stock Exchange volume was 2,170,000 shares,
New York Exchange, bond volumo was $4,060,000,
American
Stock Exchange volume was 670,000 shares.
Dow-Jones closing averages
were:
3 Industrials
Ponn. Salt Co. Philip MorTI Frucker & Gamble Co. Pittsburgh Plate Glass Publicker Industries Pure ................. Radio Corporation Radio Corp. Fret Republic Steel
Reynolds Melal Dear Roebuck & Co. Shell Oil Co.. Baint Reg. Paper
Sinclair Ou
Bocony Mohiloli'
Solar Aircraft..... Bouth Puerto Rico Sugar Southern Co. (The). 450.98 Southern National Ga 104.8 Southeim Railway (Com.)
72.00tandart Brands...
Standard Oil of Cal. B8.70 Standard Oll of Ind, 187.27
10
COTTON MARKET
New York, Mar. 6. Cotton futures today became
more of a two-sido affair, responding to moderate orders either way. After backing and Alling over a range of $1.25
bale, the
up 3
market closed with minor net changes, ruling off to points. Opening prices were off to up i polat. New Orleans closed up 2 points,
Uncertainties over farm legis- Jation, dealing with soil bank funds, cotton acreage allotments, and price-freeze on agriculturaj commodities, kept traders from venturing too far either Way in new crop months.
Old crop deliveries felt the and welstit of March liquidation and incident to the Issuance, B0% 20% circulation of delivery notices for 1,700 bales, the largest
333 number of tenders thus far,
The discouragingly slow de- goods, grey mand for cation dating back to last autumn, was pointed up even more today by the drewmakers strike,
409%
00
affect-
ing more than 100,000 operators, 16% and some 25,000 ather workers
In allied industries.
20 rails
15 utilities
479
08 stocka
152.80
4344
30%
40 bands
Comm. future price index ..
Standard Oll of NJ.
Closing Prices
Steep Rock (Toronto Exge.j Sterling Drug Co.
33
|Bickels-Van Camp.
Studebaker Packard Corp.
3
Sungline Mining....
17%
Swit & Co,
TUL
TOXAN CU
to
24;
Textron Inc.
Am: Brake Shoe
30
Tide Water Awn. Oli
American Airline
17%
Time Inc.
Bates
American Cable & Rodila Corp.
4
Twentieth Century Fox Film
American Cyanamid Co.
821% Union Carbide
Amer. & Forgn.. Power
Our Own Correspondent Business done on the Hong- this Exchange kong Stock
amounted morning
Alden Inc. Acy, proximately $385,000,
Noon Alled Chemicals quotations and the morning's All Chainers Here is an Ice House Street| transactions were: steady. Prices closed in guildersbserver's account of the market:
Bayers Bellera eif March kilogram,
The
was
85
Prices
London, Mar. 6.
Prices of metals closed today
in sterling
follows:
Tio 100%
*
*
*
#
Raw colton seller's feared pro- would result in longed strike
*
#
*
P.OBI EA
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N, C.
Outwards "SURAT"
Dua Hongkong 18th March
Nh May
9th April 7th April
13th April
9th May
4th May
14th April 27th April
12th May
ZOU MAY
0th June
204 buyer 233 buyeta Unlled Press.
per follows:
No. rubber
250 ver
No. 2 rubber
214 buyers
No. 3 rubber
No, I crepo
Shares With buyers reluctant to
BANKS extend their commitments the
1K Bank tempo of trading stowed down
XD considerably during the past
INSURANCES as evidenced by the week,
turnover
Unton... 00.50 overall
which
SHIPPING Wheelock
007.012.50
.....
0.10 0.25
DOCKS, ETC.
K. Whart Dock Provident,
(0)
M
12.20 72.30 4000 11.20 $1.00 140E
C
20
...
THIS WILL BE YOUR
SYMBOL
OF
SECURITY
LOMBARD BANKING
LIMITED
BANKERS
DEPOSIT INYL BOA
8%
Your first Lombard Banking Deposit Account Pass Book will always be a happy reminder of a wise decision. To save is not good enough; your funds should never stop earning interest for you in the assured security of the Bank.
seduction of UK
Write today for your copy of "Bank Deposit Account" booklet No. AO 74 from General Manager
LOMBARD BANKING
CA
LIMITED BANKERS
LOMBARD HOURS
CURZON STRIBET, FARK LANK, LONDON, WJ
GRO 4ÍÍ (3) Branches und ¿prun throughout the TEREM
(N) LAND, IK JOEL
XD..... Humphreys,
An
UTILITIES
Star Ferry
Youma!).
C. Light
15 1500 @
1.25 17500,000 »
120 125
000
100
L176
50 €
00
(0) 37.40 17.00
Mlectric X
XD
Telephone,
Am. Gas & Electio
10 Am. Mach. & F'dry 10 American Metal... American Smelting Am. Sugar Hef, mesang American Tal. & Tel American Tob. "3" Anaconda Cupper Armco Steel
Armour ere
Atlas, Cons. Mining 530 Baldwin-Luna-Harmi. 11.30 | Baltimore & Oblo
Benefel Vinance
Bendix Aviation Corp. Benguet Cons, Bethlehem Steel
1430 Decing Airplane
Burden (The) Co.
1,25 Burroughs Add Machine
>
Campbell Soup Co.
Canadian Pacile R.
Cose (J. 1.1 Co.
117 Cat. Tractor
Da Celanese Corp.
C. I. T Finziicial Corp.
Chase Manhat. Bank
800 44 11.00 Chrysler Motors... 65000 7! Clueti Peabody
200 @ 2040 Colgate-Palmolive Co.
Colanbilan Carbon Co. Commercial Credit
.... 35.00
FOLSO
3.30
.10
Commonwealth Elec.
500 @ 17.30
. 100
**17
Consolidated Edison
Watson
STONES, ETC. Daly
Lens, Craw 15.30 10.10
Emportion
COTTONS
Texulc...
Nanyan
6.90
MISCELLANEOUS
4.00 9.05
$10.00
1000
5.60
3.00 3.07S
Vibro
INVESTMENTS
Yangtzoa Anled
Continental Ofi of Del, Crowa Zellerbeen Cuban Amer. Sugar Diamond Alkali Wamond Match Co. 9.18 Douglas Aircraft
Dow Chemical... Dupost de Nemours Eastern Airline ... Fastman Kodak
Exchange Rates
El Paso National Gas Family Fatos Corp. Firestone Tyre & Rubber Ford Motor
General Electric General Foods General Motors Gen. Pub, Uu Getty O
ikdan Co Goodrich (1. F.) Ös. Goodyer Tyre
market w/2306
Gulf Oil****
11.40
10.00
Heyden Newport Corp.
take Mining Co. Ingersoll-Rank
Bunic was done in the loczt invefacial exchange morning at the following rates: US dollar_(DON (1) Sterling notes (port 1) Australian notes (per £1).
(per 100).. Indonesian 100) Bitol (per) Singapore (dtraila)
Bank Of Canada - Propa Rato
Ottawa, Mar. 8. The Bank of Canada's weekly interest rate has dropped below. three per cent for the first time sinos Apill, 1990.
The rate today fell to 2.91 per cent, a sharp drva krem. A wek
Inland #teel Co.
Interchemical Corp.
Ini Buatness Machines Intern to Nickal International Paper int 71 & Te
John Manville Co. Kaname O. Power & Light
RONCO COURER jazgott Mayera Lob. C. bookland Alteract Low Incorp. Lone Biar Cement Co. founders As Donk Mebanecil Appraci
Becak jas MIMET 2006 (Corp.
12% Union Oll of Cal.
12% Union Pacific Railway
30%
1994
United Aircraft
United Gas Corp.
431 1.5.
Fell "B"
2012 UB. Gypeum- 110 U8. Line Do.
7
0.6. Rubber
42.8. Smelling
40%
544
U.S. Sterl
Warner Bros. Westinghouse Electric Western Union Tel. Co. West Vn. Pulp & Paper Woolworth
previous the postponement on small sales of apparel fabrics.
Senate
agriculture committee
approval of a bill to freeze sup- ports on basic crops at 1957 levels brought a mill-session buying furry. Later, tradera said the move had no great bear-
govern 121;ing on cotton.
ment has already set the loan on the 1958.colton crop at a higher
Tho
22 level than the 1857 loan.
Open March contracts today boles, 20,000 approximated 55 traders estimated. March trad- 20%
wing ends in the noon hour on
13. March
The certificated 29 stock decreased 339 to 22,400 2421
bales,
NEW YORK Prices of cotion futures cloend 176% today as follows:
-United Prow.
London Foreign
Exchange
London, Mar. 6. Closing rates were;
2.0134-2.81-7/10 2.7021-2.784 10.8255-19.031 10.3543-19.30 11.7712-11.7736
New York Montreal Amsterdam Copenhagen 20% Milan
Frankfurt
4935
Paris
403
Stockholm
Zurich
74 10034
Vienna
Others unchanged***
May: Soat: 35.000: Mar: 3028; 24.00-07 July: 1594; Oct: 30.14 Doc: 20.14; Mar: 3020-20; May: 30.16; July: 33,36.
NEW ORLEANS Prices of cotton futures closed today as follows:
Spot: 3405: Mar: 33.23: May: 3563: July: 33.90: Oct: 28.10; Dee: 30.14: Mar 2020 May: 26.17 July: 23.30,
LIVERPOOL Colton future closings, In pence per lb. were as follows: Old contract Mar/Apr.
"CORFU"
"EARMALA" "CARTHAGE” “CHUSAN” "BALSETTE" "CANTON"
Homewards "CORFU”” "SOUDAN” 6 "CARTHAGE" "CHIBAN" + "CANTON"
་
Leaves London Sailed 25/1 Salled 5/2 Sailed 15/4 Salted t/ 15th March 20th March 1st April
LAYER Hongkong 1441 Borch 19th March 11th April 27th April'
10th March
Dus London
Via S'pore, Pobang, Colombo, Bombay, Aden 4 Pt. Bald.
↑ "CHUSAN" also calla Mazanillos.
• "SOUDAN" omits Colombo, Bombay, calls Port dndan Havre and extends Hamburg, Rotterdam & Antwerp.
BRITISH INDIA S.N. CO,, LTD.
"BANGOLA" in Fort
sail th Mar.
"FULTALA" due 11th Mar, salls 13th Mat
"SANTHIA" due 2011 far.
"OBRA"
A 21st Mar.
from Jayan
for Singapura, Penang. Rangoon & Calcula
from Japm
&
for Singapore, Penang, Itangoon. Calcutta Chitingong
from Calculja, Fangoon, Penar de Singapore Ior Japan
P.&O./B. I. JOINT SERVICE
due 7 Mar. falls 0th MaȚ.
"TTAWKA"
due Bih Mai. exile th Mar,
24.07
May/June
30.00
1747-17474 11021-111 24.0333-14,833
July/Aug.
26.00
Oct/Nov.
25.00
Dec./Jan.
20.11
Now contract Mar/Apr.
28:27
73.85-72.60 12.28-12-2014
"OZARDA” one 10 Mar.
May/Juno
July/Aug.
25.00 20.23
Oct/Nov.
kalla Lithi Mar.
rates
Dec/Jan.
Mar/Apt.
SAO PAULO
New York exchange were unavailable. United Press.
New York Metal Futures
New York, Mar. 8. Prices of metal futures closed today in cents per lb. as follows: Le Mar: 11, 40] May: 11,47k. Zinc: Mar: 8.0013; day: 0.70D. Copper Mer: 22.106; May: 2241b. Tin: Mar: D432; May: 14:06.
---United Press,
Cotton future closings, In cruzeiros per kilo were as fol- lows:
July
Out.
DRC.
20.50 33.33
30.70
40.30
In the United States, the average price of one-inch cot- ton at 14 designated spot mar- kets was 34.52 cents,
Total sales were 18,628 balcs. -United Press.
SHIP
BENDLINE
From Jaran
for Singapore, Madras, Bombay Bhavnagar
from Japan
for Singapore. Penang, Karachi. Bombay, Baaral, Khorramshahr & Kuwait
frmu Bombay. Karachi, Cochin, Alleppey, Tuti Derin & Bingapore for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NANKIN" due in Mar. salle 10th Mar,
"EASTERN" due th Apr. salle Tili Apr.
from Aurirajle for Japan
from Austraila for Japan
All verma hava liþurky to call at any⋅ porta on
or of the route & the reste à sulllage are subject
to change or anzandntang with or without notice.
For full particulurs apply to : MACKINNON. MACKENZIE & CO. OF HONG KONG 110. Telephone Nos: 27721-4.
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