1958-03-28 — Page 9

THE CHINA MAIL, FRIDAY, MARCH 28, 1958.

TRADE and COMMERCE SECTION

BUYERS APPEAR ON EXCHANGE The New York

HONGKONG STOCK

Bullish Market Sends

EXCHANGE Blue

Our Own Correspondent Business done on the Hong Rook Slack Exchange morning amounted to approxi mately $150,000. Noon quota- tions and the morning's trans- actions wete:

Shares

DANKS

IK Bank.

Buyers Bellers

Bales

ا

ازالہ

311

700 700

10

INSURANCES

Union 11.30

Lombard..

13

SHIFTING

Ama Nay, 1273

1000

1.273

Wheelock. 03

+ D3

1000 1

115

6.0% 6.05

DOCKS, ETC,

K. Whart

117

100

12

300

20

17ock. xD

Provident,

10.

LAND, ETC.

HK Hotel.

HK Lan. 31.50

Humphreys

Koolty

HUDDER

Amalg

+

Trust..... UTILITIES

Star Ferry

Youmani

XD

18

1.40 3.423

125 126

1.170 1.25

23 23.00

92.50

Yo)..... 17.20 17,30

Electric 20.10 20.30

Chips Up

By A SPECIAL CORRESPONDENT

Tho. Hongkong share market received a welcome jab in the arm this week, lifting it out of the doldrums,and moving it up at a moderato pace.

Buyers were appearing on the If the Bank Rate is cut fur- market ng the volume of ther by the Dig Three this year, business rose, and as the tempo the Stock Exchange shoud be of buying Increased the majority able to get back onto its feet

shates hardened.

eguir,

Fresh money was coming in

The present state of the

11 from a number of sources. Fart market may be the beginning of

110 of this year's $100 million a bullish year.

worth of dividends was being

12 re-invested

In

the market; money wan cuming to Hongkong from overecos; and money for real estate was being diverted back into the market,

Turnover

The turnover for the week- jumped from $2.39

million insi weak to $4.54 million this

No Reaction

★ The Share Market At

HK Bank Lombard Union Wheelock IIK Whart

RK Really

23mxd

Glance

+50

Cotton Market

New York, Mar, 27,

Cotton futures today switched back to the recovery

after a previous two-day decline.

125.DUJ

13,700

100

110,700

14,700

0.100

97.JXJ0

71.900

1,100,100 üles

NEW YORK

Prices of cotton futures closect

Traders found little in the today as follows:

Spot: 30.24; May: 36.10; July: news to account for the turde. 6. Oct: 30.01: Dec: 26.94; Mar: about. Generally, the action 31.30; May: 37.11: July: 38.48.

was regarded as a

technical

Up or

Feb 27

Blixd

Mar 6 810

Mar 13 806

Mar 20 280

Mar 27 185

Down

aleidy

33)40

aszán

33n

33149

381⁄4án

steady

7040

70

71

72

steady

Closing on a rally, the list Re showed het gains of 15 to 20 polits at the final gong. The

May

4.30.

0.25

0.10

6.95

121m

121

1920

120%

117

-$3

imarket opened unchanged to Up Tatil

HK boeks

5514

54

03

54

54

steady

pobita New Orleans closed up 20 to 28 points,

Provident

12.89

1210

12.20

11.05m

12

#1 Motel

18.30

15.80med

14.86

16.70

16.10

+400

HK Lands

3914

23

32xd

3114

813

+500

1.378

1.3751

1.375

1.40

1.425

+2340

24.60

22.70m

22.80m

28

+200

118x1

1180

1775

118n

11%

+$2

situation, aided by increased

101

084b

0046

9074

97

+500

1250

... 17.50

27.80

26.50xd

17.10 2C

17

17.30

+-306

concern over the lengthening delay in the new crop start.

26.80

26.20

++-408

27.50

26.79xd

24.90m

25

25.70

+700

1

24.800

21.680xd

21.508

213

21s

steady

17.10

17.10

10.70

16.00

16.00

steady

12.10

129

11.70%

10.80 xd

10.80

steady

Yang-rze

*6.50n

5.800

5.45

1,35

5.45A

steady

Allied

3.075

3.65

2.65n

3.751

3.6511

-100

HIK & FE thy

9.80

9.80b

5.86b

10n

100

steady

Texille Corp Nantong

4.85

4.606

4.00b

4.По

4.625n

9.15

9.15R

s.150

831

+2440 -400

HK Trame Star Ferry Youmate

Ch Lights Electrics

1 Telephone

G. 1. Cement

Dairy Farm

A.S. Waton

Here is on Ice House Street LONDON STOCK

observer's account of the marker:

Although there was no rtac- tlon on the Stock Market to the reductioni th the Brot Kate in London, the overall furnover for the past week showed an increase of proximately $2 million, and with I there was a predo- minance of mostly fractional

week with this dally turnovers around the million mark on each of the four full-trading

gains. Wednesday's half-day

The do 17.30 trading amounted to over half a

1750 million.

500

2000

600 6

UC

24.00 24.03

ATLAS

Chen et

21

STORES, ETC.

Daizy.... 10.80 10.00

Wation.

XD....

Kinectes

CUTIONS

Textles..

Получает

10.30 10.00 000

3.60

4.00

8.30

J. Courofest 16

400 12

8.50 2000 $

20 20

days.

1750

The best gainers were in the 2020 utilities' section, where Tele- phones tucked on 70 cents to close at $25.70. Both China Lights and Electrics had useful rises, 30 and 40 cents respec- tively.

10 DO 3.50

Renewed buying of Hotels 1000 pushed this stock up to $10.10. 3.00 a gain of 40 cents on the week. Although Banks and Unions have been in steady demand 10 throughout the week, there was a litle change in their prices and

both stocks closed steady.

5000 GODD 5000

5000

NEW YORK RUBBER MARKET

New York, Mar. 27. Rex rubber futures today closed unchanged to 7 points lower with sales of 22 contracts,

Ma: 20.00; Miny: 26.40; July: 20.05; Sep1: 20.00: Nov: 20.001 Jah: 2003;

Mer: 20.03.

Stundard contracts closed un- changed to 7 points higher with no sales reported.

Mar: 20.00: May: 2049: July: 20.3s

Dairy Farms" announcement of a final dividend of $1.25, which makes a total of $1.50 for the year, had little effect on the share yesterday although it was an increase of 17 cents over the previous year's dividend.

Bank Rato

The tally for the week was 11 higher, nine unchanged and four lower compared with nine higher, Ave unchanged and tem lower last wock,

AD-

Improvement in the jurnover may be possibly due to re-investiment of dividend funda.

MARKET

London, Mar. 27. Stock markets backed and filled, closing as confused as they opened. Turnover, at 6,527 bargains record- ed, was the smallest this year apart from that of New Year's day,

8.00

The

New York

Market

Stock

New York, Mar, 27.

NEW ORLEANS

Prices of colion fulures élosed

today as follows:

| Bhot; 39: May: 3818; JUGA KLAAS Oct 30.06: Dec: 30.911 Mar: 07.17; May: 37.12: July: 20.08. LIVERPOOL

Cotton future closings, in pence per lb, were as follows:

American contract: March/April: 24.83; May/June: 24.00: July/Aug: 5.38: Oel/Navi 20.; Dea/Jan; 20.28; Mar/Apr: 26.50.

Mixed contract: March/April: 23.00; May/June: 25.09; July/Aug: 24.30 Oct/Nov: 20.00; 27.13; Mar/Apr: 27.35.

Dec/Jan:

higher Experistions for

ols the tate government lean new erop, and routine montit end mill covering operations, also shaped the trend,

Seller cautiousness also re- to go slow costre fleeted c

the pending developments in cotton export subsidy plan which the govemment wants to put into operation after Aug. 1.

SÃO PAULO Exporters would be paid "in

Cotton future kind"

closings, in under the new plan, traders understood, rather than Cruzeiros per kilo were as fol- the present arrangement where lows:

May: 41.40; July 20.50; Repli by exporters get their colion at

42.00. cut rates out of the government

In the United States, the stock on competitive bids.

average price of one-inch cotton Colton exports today totalled at 14 designated spot markets 10,00% bales, bringing total for was 34.37 cents., the stason to 8,001,800 balcs, va

Total salca were 12,028 bales. the 5,272,008 bales to

same-United Press. time last year, according to the New York Cotton Exchange....

Alleghany Corp. issues gave the stock market a month

the the

Int'l Harvester Internațional „Nickel

International Paper inti Tei, & Tal.

July

feature today when a three-year-old injunction May on issuing convertible stock was lifted by t Court action. 12 British Governments had The best gulders were Tele-

The of buying amount und ilelets

common stock led which moderate phones

turnover and tacked on 70 cents and 60 which lifted War Loan £% and market in cents respectively under Old Consols 3/10,

preferred soured 15 points for the prior issue and 5% for the sustained support, IIK Banks And Unions were also more

regular preferred. native than of late without, however, much chisure in their values.

Oils were completely hap- Docks, Electrics and Dairy hazard with Royal Dutch down Farm were in good demand 2/0 and British Petroleum up with the latter announcing a 2/- and Burmah Oil 1/3. She

Market Diary

Leading industrials were vir- Lunily unchanged with rises or falls of 3ch

Loan

These wide moves had some- thing of an offset in sharp de- Aluminium lesties, À elines in dividend cut by Anaconda Wire & Cable sent that Block down fractions to more than a point. sharply. Other coppers lost

A

Anal dividend of $1.25 making | rose 3d,

developed Steel Issues $1.80 for the yeaf, an increase Foreign bonds seemed to be firmer tone before closing time of 174 cent

avoided Dawes Elsewhere

non-with mast of them up fractions, dealings

were assented improved £. In the Dlls held in a narrow range for generally in a light adale with die Japanese list 1930s were the most part, Specials produced little of note to report.

down £1,

some wide changes on both Dollar stocks were, mostlygides of the market. lower with their premium down Of a total 1,092 Issues traded, on 4 to 52 per cent.-United 401 were lower 362 higher. Press.

New York Stock Exchange bond volume was $3,799,000,

New York Stock Exchange volume was 2,140,000 shares.

American Stock Exchange volume was 730,000 shares. Dow-Jones closings were:

Here is a market diary of the week: Friday:

The lowering of the Bank Monday:

Rate In London had very little effect on the local market, but Tuesday! it was pointer to Hubgkong's Bl Three Banks,

The two main things that Wednesday: were strumental in depressing

Sept: 2000: Nuv: 20.00; Jan, 20.00; Hongkong Stock Exchange Thursday:

for the past two fears were the

Mar: 45

The continued lack of dames-credit squeeze

and later the

the factory burying interest, and Loom in the building business.

the Indonesian political situa-The construction

combined to put the on the

tion.

boom is now decline, but the bank

guiclus on market interest to-Interest rate in Hongkong is still

day.

Prices were inclined more- 10»

ward the soft side, possibly with

the London market,

But other

traders said locked

high.

London Bank rate reduction has little effect on the market. TO: $1,000,000.

No material change. T/O: $858,000. Price movements few and small, T/U: $980,000.

London Foreign

Exchange

London, Mar, 27.

Cibsing rates were:

New York

Montreal Amsterdcm

Prices unchanged. Brusela

Copenhagen T/O: $507,000, V

Milan Prices Mctuate Pris within natrow limits, T/O: $1,087,

007.

Stockholm

Quiera unchanged.

3.91-9/10-7.913?

John-Manville Co Kansas C. Power & Light Kermecott Couper Largest Meyers Tob. Co. Lockheed Aircraft... Low Incorp. Lang Star Cement Co.

Lowenstein & Soni, MaDonnell Aircraft Stock Exga) ... Meral run Corp.

Marion Development Monsanto Chemical Co.

Annesota Mining

Montgomery Ward Motoroto Inc,

National Cats Rex, "A" National Dairy Prod. Nations Letd

Nattungi Bteel Corp.

New York Central

Norfolk & Western Ry. clin Mathieson

O Elevators Owen-flinois Class Pace Gas & Eice. Pan American Airways Paramount Platures Porke Davis Co. Penny & C. Co. Penn, Balt Co. Phule Morris. Procter & Ciambie Co. Riitsinurgh Plate Glass Publicker Industries Pure Olli Radio Corporation

30 Industrial

443.04

20 ralla..

104.

15 utilities

ci stock

153,73

2.7432-274-13/10 40 bonis

28.72

Jindie Corp. Pref.

10037-10.677

Comm. future price Index ..

106.08

Republic Steel

19.4118.33

1594-139.771S Closing Prices

Rebrcida Metal

Secrs, Roebuck & Co.

1744-1745

1100-118014)

Alden Jpc. Aer.

ath

Allied Chemicats

Allica Mills Inc.

14313-14515

Note: New York exchange rates were unavailablo-Uniled Press,

JAPAN'S TRADE WITH

Bard the thread New York Sugar BRITAIN; QUESTIONS

a definite treniul either way,

Phas been just drifting."

In the shipment market, few

Balca

were

Indicated. Onc

for

Market

New York, Mar. 27.*

two World Na.. 4 sugar futures A

closed today~_7- points| higher with natos.bl 563

of Indonesia sheets out March/April shipment were offered at 20 cents and sheets, at 25 cents, but both were unsold. In fort tentative buyer ideas were about cent lower, Locally Spot No. 1 Rs was quoted at 2014 cents.

SINGAPORE

contracts.

Firmer trend reflected in- erearing

over future concern supplies to the United States

London, Mar. 28.

Labour Peer, Lord Shepherd, said today the Yorkshire wool industry was concerned at reported Japanese threat to reduce import of woollen piece goods unless Britain imported more Japanese canned food.

The market had a very quiet day with some better enquiry because of the Hawall labour for forward deliveries.

situation and the threatened Ha hod earlier asked for Singapore, precise

detalls of imports and exports could not be glycin, There has been a very Umited | general" strike in Cuba, Inquiry for lower grades and. Raw brokers

a by Britain and Colonies with reported

Lord and In recent years

Shopherd said there Japan was Japan fluctuations have been limited, broadening demond,

Discounts on nearby Ras al-reported in the market for whether the government could was a considerable difference imports Into Britain good-sized quantity of sugar, make a statement on the present beveen Austin abo was again reported Anglo-Japanese trade negolia and the Colonies and exports ireking supplies, with estimates ons.

from Britain and the Colonies to Japan. In 1937 there was a 10 100,000 up ranging from 400,000 tons.

of about £50

most entirely dimppeared.

Futures:

No. 1 rubber per l5. Auri 1:72 May 775-77 No. 2 rubber per 18. April zit ND. $ No. 4. "

Epol rubber unbeiet ................ Blanket crepe

No. 1 pale p

LONDON

No. 1 has sput.

77-774 64-00 80-83

The rubber market was idle. with spot quoted at 23.1/10 pende per 1. Priess:

23-2316

23-2316

23-2315-

Bettlement house term:

May ....

1

April/June

July/Sept.

Ocf./Dec.

2311-2016

Jan/Mar General markets, if basis, parts

Apri

May

Jurie

Eetate crepe that. April

thick April

**Unlied Press.

Exchange Rates

Disent was done in the-loppl market th? joeynlig at the following rafmag

5.31

1.8. dollar fuer #}}

•Starling notes (b*%

Contract No. 4 (world) May: 3.01; July: 3.83; Sopt: 35. 53: Oct: 3.51; July: 3.41 Bpot. teents per lb. feb Cuba): 3.52. Open interest: Vi contracts.

Contrnet No, G (domestic) May: 3.68: July: 5.70; Sept: 2.30; Nov: 5.77; Spot (canta per lb." "elf NY ex-duly): 4,38.

2,373 contracte Open interest? Untied, Press.

Keen

Melbourne, Mar. 27.

Alli Chalmers

Am. Brake Shoe

American Airine,

Am. Cable & Radio Corp.

American Cyanbid Co.

Aru, & Foren. Power Am. Gas & Electrit Atn. Mach. & Fury. American Metal American Spelling Am. Suga itet..... American Tet & Tei American Tob. "B" Anaconda Copper Armed Steel Armour Afiae Con Baldwin-Lia-Ham. Baltimore Az Oto Beneficial Finance

Benguet Cora. Bethltilem, Steri

(The)

Ming

ends Avalon Corp. Boira Arplane

his Add Machine Campbell Soup Co

Canadis Pacific I

"05 ('I 'T) DEKO

Cat. Tractor

Celanese Corp. gures. T. Financial Corp.

Cleo Manhel. Bank Chrysler Motor Cluett Peabody... colgate-Palmolive Co Colombian Carben Co. Cummercial Crodi Commonwealth Elec, Consolidated Exilson Cantinental Out of Del, Crown Zellerbach ... Cuban Amer. Sugar Diamond Alko1 Diamond Mateti Co. Douglas Aircraft Dow Chemical

Lord Mancroft, Minister with-difference out Portfollo, replied that the lon

Ho asked: "Ard you

aware trade negotiations, started on

and were still go that there is considerable con February ing on. They were confidential ceen in Yorshire among the and he could say nothing about woollen plece goods firms that

Japan has threatened to then at this stage.

duce the import allocations in

IG.

Dupont de Neinsure Pastor Alcine Eastman Kodnie

El Paso National Ga Tirobo Tyre & Rubber

Family Finance Com,

·Ford Motor

General Fooda ... Federal Motora

Lord Mancroft who was ans- the event of Britain not increasionsra, "Electric" wering questions in the House ing imports of canned food?

"Will the goverrunent press of Lords, sald British imports

of the on the Japanese government the | detty. Gil from Japan la

cach

+

MelbourneWool Sales three years from 1955 to 1957 necessity, or dealfability of inj

were about £24 million. Bri-creasing our woollen pleen goods from lah exports to Japan in these trade with Japan?” competition

Land Shupherd · said these. Eastern and Western Europe years were £13 million, £22

trading agreements, which were and Britain marked the closing millon and £28 million.

yearly affairs, caused consider able inconvenience, concern and incertainty among the trading community, an

Melbourne

average

| stages of the wool maths today.

the Brokers sold brice over the four day antea WOT at least 24 per cent above February rates, Top prices 10- day: were: Merino 804 ponce, comeback 87% penen A

Jasan dominated the Brisbane walks today when allonger-lypo firmet

| 82%1⁄2 pénce. #Valled Press.

Inboris Into the Colonies were about £84 millon in 1955; £67 million in 1950 and 200 million in 1937.

I

Colonial exporis to Japan were 218 million, 84 nilion and £83 lilion * respoctivaly In those tlinie yours.

Lord: Shepherd went on:***IE we must have trading agree- ments of this character, could they to of two or three years' duration?".

Word Mancroft replied: “We have the pointa, wai în mindi Cab 1962 | 3=tkatnie: kzle- tradinis representa“ wazo, prayleignál, Beodume of uvos žinyn lzëm, kino, but I wil

italiji | ronke culte curiam (hey) ala tink) Funda Amiril frostkong, MAA, 19 by default. Reuler)

Gen. Pat. Uzu.

Glidden Co,...

Goodrich (17.) Co. Goodyear Tyre Gulf Of GWARA Heyden Ninyport Corp. metako oing Co. and Steel Co. Interchemical Corp.

Shelf On Co. ·.·

Solut Reg. Paper

Tsumabi Olf 30% Forony Mobiloil 20Sutar Aireratt

DE

83

LAM.

Bouth Puerto Rico Sugar 16%Bouthern Co. (The) ... *** | Bouthern National Gas

Southern Railway (Com.) IRY Standard Brands 43% Standard Oil of Cal 3015 Standard Out of and. 2012 Standard of af 1.

· 45

Steep Rock (Toronto Exge.). 2716 | Sterling Drug Co 1719

Stokely÷Van, Camp.

79% Studebaker-Packard Corp.

Sandine Mining

4

Swift & Co.

14%

Textron Ine.

11

23)

22

Tide Water Aam, O!

Time Ene

Twentieth Century Fox Fi Talon Oil of Odd

*nien Pacifle Ralway

United Aircraft

30% United Gas Corp.

3 US. Foul "R"

BUH. Cyprum.....

30%.. 1.ine Co.

395B, Rubber

25

U.B. Smelling

1416

V.B. teel...

Warner Bros.

Westinghouse Electric

50%

Bo

40

Western Union Tel. Co. West VR. Pulp & Paper Woolworth

Volume Open. Interest

14,500 200.000 200,000

13,200

18,000

214,100

Agreed Merchant Rates

Swiss Francs: Maxiinum Sell- ing 76%.

POBIEA

COMPANIES

PASSENGER/FREight Service

PENINSULAR & ORIENTAL S,N. CO.

Leaves LoadDa

9th April

13th April

Oztárs

Ons Hongkong

"CARTHAGE" Balled 5/3 “KARMALA” "OKUSAN” "ƏALSETTE"

+7th April

Ballet 19/2

Balled 1879

Selled 20/3

1st. April

12th Bir

Bit April

30th May

#th June

2nd Jun

"CANTON" "SUNDA" -"SALMARA”

"CÓRFU"

HomewarGa "CARTHAGE" "CLUSAN” +

"CANTON"

"SOMALI”

"CORFU"

20th April 3u1 April

4th May

Leaves Hongkong Dut London

:11th April 29th April

bu May

32th May

Roth Ma

Bh June

1 ay

ict July

7

8th July

6th June

Via s'pore, l'ening, Colombo, Bombay, Adam & PL. Sald,

↑ "CRUSAN" alto calls Marspillen.

"SANTHIA"

"OKULA"

due 11thộpr.

BRITISH INDIA S.N, CO., LTD.

due 13 Apr.

alle 11th Apr,

salls 13th Apr.

From Japan

for Bingapore, Pening. Rangoon & Calcutta

from Japan Rangoon, Caloutta & far Singapore, Penang, Chuttengong

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

“UMARIA" due 20th Mar, Kalis 20th Mar,

das 30th Mar,

alls 31st Aler,

ade 4th Apr. salle 6th Apr.

do 9th Apr. ails 10th Apr.

from Japan

for Bingepice, Bombay Karschl. Kuwait. Damali & Khortabah

from

Karachi, Bom.. baz, Colonsbo, Penang A Singapore for Japan

from Borbar, Cochin, Colombo & Sngapore for Japan

from Japan fdr Singapore, Madta, Cochin, Bombay, Ram- chi, Kuwait, Báarah de KhorramskokR

"ITOLA"

United Preas

"TTRIA

"OZARDA"

CANADA BANK

RATE DOWN

Oltawa, Mar. 27.

The Bank of Canada interest rálo, bas teen on the downward

20 trend for the sixth consecutive week to reach a two-year low of 2.82 per cent. This compares with a rate of 2.64 per een last 30%-week, 3.29 DLT cent for February and a yearly high of |4:10 per cent That September.

Since Nov. 1, 1960 the bank rato has been ·ndjustød automatically, at 1⁄4 of one per cent above the weekly average, The zato stood at 2.75 per cent | in April 1956.--United, Press,.

SHIP

BENDLINE

· EASTERN & AUSTRALIAN S.S. CO., LTD.

from Japan & China.

for Austra

Latipan. Tessilian Bandakan

"NANKIN” – due 29th Mar,

E

*

D

"EASTERN” due 4th Apr. GIN, ADT.

tenis Australia

SALE

AJE VELIKIH ZAve: liberty to call at day, pirte GR ar off the rente 'à'the bouta 'a salilake nyo auksuot

ja chanze ar amindraint with, ay, weftechind numel

For full noeticulous appli

+a

MACKINNON, MACKENTH -V CO

GT HONG KONG LTD leb plone Fac