1958-04-25 — Page 9

THE CHINA MAIL.

FRIDAY, APRIL 25, 1958.

TRADE and COMMERCE SECTION

STOCK MARKET LEVELS OFF The New York

Allied Investors

Have Spectacular Gains

By A SPECIAL CORRESPONDENT

The Hongkong Stock Exchange continued

to level off this week after its upward. climb a few weeks ago and many counters were practically unchanged.

HONGKONG STOCK EXCHANGE

It is expected that the market will hold this position for t time beint before moving one way or the other,

After

months of Inactivity. Allied investors suddenly canie Into prominence with a specta- cular al from $3.65 to $4.50 before any scrip was offered last Tuesday. Yesterday blocks for $1.40 of shares were sold wind $4.375

The sudden interest in this sfare was attributed to a tumour that was wodog around in Tee House Street that the Hongkong Gas Company's shares might be Business dine on the long-quoted on the Stock Exchange. kaux

this Allied Investors own one-thirai

Our Own Correspondent

Stock

Exchange

504 amounted to approxin- of the Gas Company's shares.

Intely $203,000. Noen quotations and the morning's transactions were!

Buyers Sellers Katey

Akuret

BANKS

1st Busk.

7x

INSURANCES

Vaken ...

74 12 50

SHOPPING

Wherinck

003

015

DOCKS, FIL Duk

Providosat,

LANŲ, ETC.

41.54

Lost Ground

* The Share Market At A

Glance ★

HTC Banic Lombard Infor Wheelock

HK Wharf

JK Dock

Provident

HK Jotris

UK Lands

HK Realty

IIK Trama

3.231

ALL..

Up or

Mar, 20

785

MAK, 27 785

Apr. 10 185.

Apr. 17 1824b

Apr. 24

785

3314

3314n

3292

3234

Down +$2.50 steady

72

12

12:

71b

-800

4

5.95

€25

0.10%

6.05b

1204

117

105x4

109

110%

+"

54

54

4514x0

444

444

-250

11.95t

12

1940x0

11.30

7

11.40

-100

15.70

10.10

17.40

17.00

18

++500

31/

3144

2114

33

3214

500

1,40

1.425

1.475b

1.473b

1.50b

+2390

22.80m

23

21.80

23.70

24.10

+40%

116

$176

112*

116

110n

J

0014

97

93xd

0314

95m

+31.50

17

17.30

17.80

1240

17.40

-+-100

25.80

20.20

20.00

20,40

26.40

pleady

IFK Telephone 1.1. Cement

25

25.70

23.40

20.10

20.30

+206

21x

20.00

20.80n

20.10

--300

Dairy Farm

10,00

10.90

17.30

15.90xdb

10.40

+500

A.8 Walsori

10.80xxe!

10.80

Urb

11.20

11.20

steady

Yanglize

5.45

· 8.450

0.20h

5,236

3.251

steady

Allied

3,751

3,051

3.03n

3,006

4.375

+7740

IIK & FE lov

100

10n

10.100

10,10n

10.10n

steady

4.00

4.63K

4.55b

4.85

4.55b steady

9.15

**1

R.00n

9.45b

steady

Star Ferry

Yaumatis

Ch Lights

Electricn

Tex Corp Nanyank

NEW YORK RUBBER MARKET

New York, Apr. 21. Rex rubber futures today sed 25 to 35 points

lower with sales of 100 contracts.

The

8.45b

New York Stock Market

New York, Apr, 24.

Stocks advanced today with the industrial section within five points of the year's high set on Feb. 4.

Trading increased a group after group forged ahead. The leading departments made good gains. Steels stood out and were meeting new demand from the beats as the close neared, Dils

Lands lot some ground thi week, but Hotels pleited up advance to $18, a gain of 50 enis for the wack to rebran! for Hotele activity may be May. 2015; July: 27 16, Sept: 2003: beenuse bugers find the share Now: 20.05: Jan 26.03; 51: 21.90; reasonably cheap at prevailiny: 29.30.

"Futures developed raslots in prices.

with London on the The majority of wines has company

best volume in some days, Sell fractional

Traini gain, bu

Ing followed reports to the Lacked on 40 cents, climbing

ban 109 11.30 11.40 1000 12.50 from $23.70 to $24.10, while effect that the export

Youmalle rus to $93, a pan of shipments at of Central Suma-moved. Some of the chemi-

tra hul been lifted, Dealers Ber wis gained fraction. Dairy Farms were in good de-understood a substantiat quanity strengthened.

copra, yesterday's loss. bring quited ex-of rubber, along with and after divitend last week, and they was available tarked on a useful gain of 50 market, cents for the week closing st $18.40

HK Hated. 179. 10

UK Land

500

SF50 for the week.

All of

10

2000 p

1790

13.25 32.50

Humphreys 14.40 14

Realty .... 1.50 1

NU

Analg.

Trust

..... 1.173

A. Tawar J*** | 138 --

-UTILINES

Tran 390 20

Yaoret 9450 03 50 C. Light

( 1750 17 Ga

Electric_20.10.26.50..

Trlegunge

2010 20.20

INDUSTRIALS

Cement

20 20.50

XD 10,18 10 747 11.20

STORES, ETC. Dalty. We COTTONS

Nat

INVESTMENTS

Altfor! ....

Sungla

US30 7 1000

13 75

for shipmen!

Molors tili

Ralls made

In the special scelions good was noted for such demand Estes us the drug and cosmetles, mercantlies, amuse- tobaccos, ments and foods, Copper wire

on

Bearish rullinent heightened with reports of a more reserved Turnover Inr the week, which ptitude on the part of Russiau was short one elay was $3.11 buyers in the Londe market.

Trade news on the home front with $3.34 million

Compared

Tally was 11 also was discouraging. Private cut in lis dividend. Chesapeake million lust-week

output & Ohio rose u point on declara higher, seven unchanged and six

Conspared with six-for-the US. Uhls week will fulltion of the regular dividend..

to an estimated 50,014 ulls," the ̈ lowest in six years.

100 24.10 lowery

12

200

Q

jan

170

24

200 x

NX

high r. five unchanged and 13 lower last week.

Predominance

Here is a lee Hate Street

500 20 20 cd,servera

है

21000,

#AU

4.56

1.20

LONDON STOCK

MARKET

Landon, Apr. 24. Stock markats had a fairly satisfactory day though the turnover at 7,741 bargains, was nothing fo brag about.

British Governments were in demand, though most of them met some

Belling Just telure

the else and hold net gains of only 1/10 or . It a few in- tances there were rises of 3/10 or even 5/16,

Industriasts

were rather

contrived

neglected but a few

to gain or lose 6d or 9d. In- ternational Nickel lost 3 points

ila reduction 134 un activity.

נו

of

market:

loase,

account

the

sources dicated auto

Baltimore & Ohlu Beneficial Fnatico..... Bendix Aviation Cùry. Itenguet Cons. Artücher blee! Boeing Airplane Borden (The) Co. Burtough. Add Machine Campbell Soup Co. Canthara Paville R. Care 13. 19 Co. Cat. Timetor

Celaties Corp.

1. T. Financial Cump Cha Mantai. Lank Chrysler Motors Cluelt Peabody Colgate-Palmolive Co. Colombian Carbon Cu

Credit

Comoditated Edlom

Continental Oil of De}, Crown Zelawbách Cuban Amer. Bugar

·Dimsenud Alkail Utilities reached heir best Diamond Mutch Ca.

Dow Chemienie... Because of the gloomy auto average level since Oct, 4, 1930. Dues Acraft

Railroad Issues joined the Dupont de Nemours pleture, some dealers have been forecasting a sharp drop in upturn and the average for 66 Kastamon Kodek

-Fully Sience Chrp utting the April-gure-down-toy stocks, 30 Indust:lais, 20 rahl-El Par National Gas

15 utilities, rose Firestone Tyre & Rubber putting the April figure down to reads, and

more than a point to its best Ford Motor

General Electric

Foods General level since last Oct. 3.

General Motors moved Automoblie Issuer

Cen. Pub. 15. nhead with the top-ranking Getty Oil issues leading the day. Chrysler Gilden Co.

Goodyear Tyra rose a major | Cuir "DE GOA gained more than a point, and Goodrich (B. F. Co. General Motors fraction to a new high,

Ford

around 25,000 tons.

Shipment business today was the Although the Stork Market

in negligible. However, opened the week on a steady

T New York delivery to firm note, a slightly easier

sheets, some three rib smoked about Lendency developed

reportedly mid-week resulting in a pre- Oct/Nov, delivery,

moved at 28% cents and some di niinater of mostly fractional

20% mainly in the utility July/Sept, one sheet at *relion with the exception of rents.

browns three Offerings of Trams, itch advanced to $21,

fwere reported for shipment oul And Yaumatt Ferries to $95.

20 Hongkong Banks and Unlollsjat Java; April/May at

Ford regained an early loss. freight, but [meta

American Molors continued were leady and unchanged,

were an indif- Hongkong Lands lost soie buyers' ideas

Other

active and fem. Ford reported

but vulput, Increasing ground but Hotels continued terent cent lower. steady with business transact-offerings included some Singa-

#C blankets at 20% figures for this week overail ed at 918 In the closing pere

Spot made the poorest showing in six cute cust and freight. session.

quoted at 20 years. After a tan period. Alljed No. 1 Rss was

made a

1 cents. Investor

good re- covery during the week ad- vancing from $3.65 to $4.50 before any scrip was offered to the market.

In the stores group, Dairy Farms were qulte Kolive and tacked out small galne whilst Lane Crawfords also showed further improvement.

Trading was on a fair sente overali with the amounting to $3,117,000.

turnover approximately

Market Diary

4023

SINGAPORE Overseas makets declined In but, sympathy with Singapore market ignored this during the morning and moved steadier than yesterday's low levels.

Premium on spol and Mny reduced during the day is there positions offered freely.

Interest in lower grades was sporadic

Futures:

No. 1 rubber per lb. May 70%-70%

70-754 No. 2 rubber pes 1h. May 72-13 No. 3 rubber per. 1. May 68-69% Here is a market diary of the No. 4 rubber per th. May 254

7745-29 Spol rubber unbaled .............

COM Bankel Crepe week:

00-0014 Closed ón slendy No 1 Bato FEDO Friday:

note, T/O: $689,000. ¦ Utilities prominent. T/O: $845,000.

Olls were active with Cana- dian Eagle appearing repeatedly Tuesday:

Anally, ke on the face and

Burmah and Shell, gaining 1/3; Wednesdays Turned shade easier. Royal Dutch rose 2/0

British Petroleum 2/-.

and

Thursday:

T/O: $990,000. Dull and feature- lesa. T/O: $567,000.

Suez Canal rose £ to £30,

showed Sunic Japanese

strength with the 1910s art the

10308 up. £4, both assented London Foreign

and non-assented.

The 1800s!

Caned, both categories. Only

change in Germans was a rise

of £% in the Young Lean.

Dollar stocks were moderately

higher though their premium

Exchange

London, Apr. 24. Closing rates were:

cased 4 to 44 per cent New York ...... 21-0/10-2.01-11/16

United Presa

Montreal

Amsterdam

Copenhagm

London Metal Prices

Frankfurt Milen Park Zurich

2.33-2.734 10.00-10.0

130.234-190.57%

10.725-11.721%

LONDON

the

nure

Standard Brands rose than 2 points when directora lifted the dividend, by 10 cents. Farm implements made a good showing with J. I Case at a new high and Caterpillar Tractor up

more than a point.

New highis appeared in W.

Penney, J. C. R. Grace. Reynolds Tobacco B, Lily Tulip Cup, General Foods, Georgia Pecine and National Supply, Plough, Inc. (drugs and cosme- ties) rose points.

2714

2215

Rubber Tappers

Wage Demands Said 'Irresponsible'

Cotton Market

New York, Apr. 24. Cotton futures today back-pedalled after an open-

ing spurt nudged the far forward deliveries to seasonal highs.

The reversa) of

formi

Month

coupled with:

1. A return of

May

July

clearing

weather and a

inore

Oct.

19/700

Volume Open interest

23,000 60,100 22,200 109,300 231,000

favourabla

view of the

crop

Dev

10,400 189,000

Mar.

May

over form legislation.

July Oci.

Singapore, Apr. 24. ·

The

news; Z. Renewed uncertainties

overnight government Total

announcement of a dual export A Johore Stafe rubber plant-subsidy plan for cotton

or loader today de cribed some questions the latest wago di hands shippers said.

lett unanswered,

4 01-

11.200 135.709 20.000 152,200 18,500

10,000

33,600 140.100 1.100,000 bales

NEW YORK

Prices of cotton futures closed today as follows:

koht: 33.ps; Star: 35.70-77! Juive 26.09; Out: 30.55; Dee: 3375; Mari 77.00 May: 3762-04; Juny: 30 40

NEW ORLEANS Prices of collon futurea elosrd feday as follows:

of the National Union of A new subsidy would cover

Workers Plantation

as Payment-in-mind, plus

110 ut

Oct: 3021 present "the most

irresponsible nation

programme of buying on com- that can ever have been peiliive bids out of the surplus presented by a trade union clock,

to an employers associa- flon."

Spot, 34.05; May, 35.78; July, 3660; Ort. 26.34: Dec. 30.74; Mar. 31.02; Moy, 3799; July, 30.401 Oct., 35.22.

LIVERPOOL

future closings, | pence per lb, were as follows:

Contract: May/June!

Colton

Ameren

Iri

Traders wonderel

about the the subsidy and smount of The leader was Mr S. Sa- whether it would be on Axed to perlodic or subject diston, chairman of the Johure basis, State Committee of the Malayan chadde. Planting Industries Employers

Evening-up operations fea- 21.05: July/Aug: 25.41, Oct/Nav: Aœention. He was addressing tured in the May delivery. To- 20.; Dec/Jan: 20.33, Mar/Apr: 20.71. heed Contract: May/June: 24.37: the annual meeting of the Johore day was first nolice day. Initial branch of the Association.

tenders for 500 bales were is- July/Aug 20.33: Oct/Nov: 28.70

Dec/Jan: 27: Mur/Aut: 37.30. The Union has demanded that sued and elreclated most of the

SAO PAULO nubber workers a basic wage scrsion.

Cotton future closings,

in

of S(M)4.40 a day plus allow Open May contracts today cruzeiros per kilo were 03

antes, instead of having their totailed 66,100 bales. The cor- follows: wage tied to the rubber pricelineated stock ut 23,350 bales as at present.

vas off 250 bales from the

May: $1.50 July: 41.80; unqualed: Nov: 42.40; bec: 42.5

In o United States, the

Imarkets

The Strat Times rays the previous posting yesterday. Union also pressing for the Closing around the day's average price of one-inch cotton

offat 14 designated spot Heppeer trek to be reduced by bottom levels the list was

on trees, with a bonus for con- to 24 sells. The market was 34.03 cents.

were Press,

nuing the

task, and a

30 18

prezent 450-tree opened up 5 to 10 points. New further bonus for Orlean: closed off 15 every pound harvested over the nois ussessed average yield.

Mr Sandison sald the Gestral- Secretary of the Union, r

P. P. Narayanan. had "ut s

5 signaiute to a ist of demamis

th

18

which would price natural rub-

bee right out of this world, niul

all of a right out of business,"

le sald under the propound

561%, wage senle tappers might cat

$1m some days, for bringhig

4 in no erop at all-ruler,

45%

ដ។

2011

7311

lloyden Newport Corp. Homestake Mining Co. Ingersoll-Xand

13

Inland Stest Co.

201

Interchemical Corp.

381

Business Machines

351

3171

7214

In

Int Harvester .... International Nickel International Paper Intl Tel & Tel .... Kansas C. Power & Light John-Manville Co.

Co.

enero Copper LIBEER Mon Thu. Cư Lockheed Aircraft Loews Incorp, .... Lone Star Cement Lowenstein & Sons McDonnell Adieraďt

Stock Exxe: Mesebi fraz Corp Minnesota Mining Miraton Devedubinent

Motorola Inc Montgomery Ward National Cash tes. "A National Batry Prod. National Lead.... Nadional Steel Com. New York Ceniral Olla Mathlesen

Monsanto Chemical Co.

Ct Exentors Owen-inois Glam Oxford Paper Co. Pacifle, Gas & Elec. Pan American Always Paramintmt Detimes

Davis Co. Pack J. C. Co.

Tenn. Salt CA... Philip Acer Procter & Gamble Co.

SINO-SOVIET

TRADE

PACT

Peking, Apr. 24. The Soviet Union and China, which yesterday signed a commerce and navigation treaty in Poking will con- clude a further long term commercial agreement in the near future, the New China News Agency re- ported.

The announcement was made 3br M. Antonov, Soviet

Chorgo

D'Anaires in Peking, during a

yes-

a dinner in honour of the Soviet 7212 delegation which signed 43** terday's agreement.

321%

[Am.

Leaders in volume-all well below the American Motors total --included Shell Transporti, J. 1 Case, Aluminium, Benguet, and Boeing Airplane.

Volume

of 2,876,000 shares was the heaviest since Feb. 1 fand 130,000 shares ahead of Pittsburgh Pole Glanu

Of 1,151 issues Publicker Induiries

Pure Oil Weinesday. traded, 632 closed higher and Radio Corporations fladin Cur Pres. 204 lower.

Sales on the American Ex-Republle Sterl Reynokh Metal change today amounted to gears. Rotbuck & Co. 740,000 shares compared with Stel oll Co... Saint Ber. Paper GD0,000 shares traded yesterday. Sinclair Di

Bond volume today totalled Sarony Motion

with Solar Alreratt............... compared $5,000,000

Bouth Puerto Bleo Sugar 225 buyer $5,000,000 yesterday.

Bouthers Co. (Tan) Dow-Jones closing averages Southern National Cas

Southern Raliway (Com.) Standard Bralida

The rubber market was easy with spot down at 4 to 22% pence per lb. Prices;

No. 1 pol Settlement base term:

Kov

June

Jilly/Sept

Oct/Drc.

Jan/Mar.

Aparli

21-73

2

227-2215

General markets, ci nalo parts:

Miny Jime

Estate Crea

thin May

221-2224

were:

37 Industrials

23 ratla

15 utilities

63 Blocka

Alden Inc. Any

433.42 Standard Oil of Cat.

The Stressing

Importance agreement which a long term would have for both countries, Antonov said: "Such an agree nie would favour still further trace on a large scale in con- forily with pinoning methods, proved 531 which have already cle effelency."

hנינ*

+

Total sales at these

17.785 bales.

markels United

PO B•IE.

COMPANIES

PASSENGER/FREIGHT SERVICE

...

PENINSULAR G ORIENTAL SN, CÓ

Outwardż

A "BALBETTE"

-“CANTON" "SUNDA"

"SALMARA”

"CORFU"

SINGAPORE"

Homewarde "CHUSAN" + "CANTON. "SOMALI” "CORFU" "SUNDA" &

Leaver London Saited 20/3 Baled 1/4 Salled 2/4

Die Bouskoby

Jin May 4th May 15th May

Salted 20/4

30th April 7th May

2nd June

Leaves Hongkong 27th Apri BU May

10th June

Due London 20th May

4th June

17th May

zd June

Bi. Jie

8th July

15th June

2001 July

Via S'pore, Peuang, Colombo, Bańkay, Adesi & Pt. Bad,

• "CHUBAN" mind calls Kiaresilien.

* "TOMAL*** calls P. Awettenham, Singapore thoNÇO direct to layre & Loudon.

↑ "BUNDA" Calls S'pore, P. Swettenham, Penang, Aden, P. Said, Havre, London, Namburg, Nattørdán & Antwerp.

"BANGOLA" I

BRITISH INDIA S.N. CO., LTD.

Port

Art 20th Apr,

from Calcutta, Rangoon, Penang & Singapors for Jupan

Calcutta

Chinese Deputy Ex- mal Commerce Minister,

Li

"OLINDA"

due 30th Abr.

Ial May

from Singapore for Japan

จง

pro- BIR Che-jen, stated that the Circled agreement would be of "considerable" importance

for

14 Stno-Soviet economic co-optră- ten now in full development." -France-Presse.

New York Sugar Market

New York, Apr. 24. World No,, 4 sugar futuros today elbied bnchangad to six points higher with salos of 581 contracts,

Domestic. No. 0 sugar Zulures 40EL closed today with salts of 119

contracts,

directions:

World future, derived rallying

from two power First, the overnight, announce. 3ment of a boost in the import

Cuban sugar,

111.00 Standard Ol of Ind.

4310

T.13 Standard Oll of N,J.

24Th

280.91 Sleep Tuck (Toronto Exge)

BD.

Sterling Drug Co.

301

150.

Biokoly Van, Cainp.

13

Studebaker Packard Corp.

54

66 quola for

23

Fox m

a

83°N

27-2

Fi* "ཝཾ

1834

London, Apr. 24. Prices of metals closed today in sterling per long ton as fol- Jows:

Tin spol

3-matill

Copher pol

3-toanth

Lead 2nd halt

Buyers Sellers

150 731

730:14 23914 37514 17832

17742 $78

1274314

1724-12246.

Others unchanged.--United" "Preas.

New York Foreign Exchange

1.03-8/3

New York. Apr. 24.. Closing rates were: Canada England one but

30-tays 90-days

Luck May

AMSTERDAM

The rubber market was cuзy. Prices closed today in guliders per kilogram, cit May as fol-

lows:

No. 1 rubber No. 2 rubbar No.3 rubber to. 1 crepe

2.15 nom.

-2.11 non.

1.00 non 2.21 nom. United Press.

Exchange Rates

... 2.01-13th fansiteial exchanges:-

40 bonds

Cemm, futuro prica index

Closing Prices

Allied Chemical

ADied Millr Inc.

Allis ChalRIOTT

Am. Brake Stieg American Airlina

American Cable & Radio Corp. American Cyanidinid Cd. Amer. & Poren, Power Am. Gas & Electrio

Aitt

Mach. & Fdry. American Metal ... Daire was done in the local

market this American Selfing

American el inorning at the 2.00-13/10.3. dollar, (per $11,

5,00 American Tob. fiferfing nales, (per 23jui

10.12 Aracunda Copper 12.63 Australian notes, (per 43)

Armon Bles Indonesian ruplání (per 100)

MIT tieni (per 100)

Others unchanged,munited “Préu, Singapore (strains)

18 Arinque«'» t»«, 2030 | AŬm Cone. Mining

Bunshine Mining

SWIFT A Cu.

Tower Co

Textron anẹ, g

• 20% Tide Waiet Aas, 0|1

74

Time the. Twentieth Century 2015 | frion Carbide

13

33 Union off of Cai,

Union Parle Railway 1415 | United Äfrečnit 451 | Uniže Gay Care, 135 | 178, Kall" ***

44.8 GORUM 351 18. La Co, 2011.9. Rubber, 43 UB. Ping 17765 | 118.. Stest pa

6531 Warner Bros.

14 West. Va Falp & Paper

Woolworth

23

Australia

#

New Zealand

Bouth Africa

April July

Zinc Zrid half

Aprit

July

United Pri

52

1.15 FO

2

4411

417

Wartort

ige

12

2. that Russid Trudo reports bought 10,000 tons of Cubans for Match shipment and was interested in buying additional amounts for June.

Contrne! No. 4 (world)

May: 3.43: July: 3.40: Sept: 3.

* July: 5.40: Sept: the Spot-(kenta

on Tele La

Elecitie

15

LEThOna Prakt

per tu, fob Cuba): 5.0.

Open interest; GAIY contracts.

Conledet No. & ¿ddiheitle) July: 0.75: Sept: 8.73: Nov: 5:15. Epol-fonts per ll. aif NT- eX-QD{#T?

Open laterest: 2,084 contradi Untied Pre

*

"TTIJA"

Je

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

due 9th May mailm 10th 24my

dra

4th May amily 9th May

from Japan

far Singapore, Penang, Hader, Bombay. Dhavnagar & Kachl

from Japer.

tor Singapore, Karachi, Barth, Khorramsahr, Kuvall & Darbel

*ITOLA"

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

"EASTERN"

40 25th Apr. rails at May

"ARAFUBÁ” dua aridi May

anita "aths 24ẨY

from N. Chian

for Jerwalton, Labuan, Haziakan

Brisbane, Sydney, Port Kembla, Melbutina si Adelaide

from Australis for Japan

All veusvis have liberty to chil sê aby parts du or off the spute & the roula & sailings are subject

to change or amendment with or without notice.

1

For full particulars apply to r MACKINNON, MACKENZIE

OF BONG KONG UID. Telephone Nos: 27721-4.

00: