1958-05-02 — Page 9

** THE CHINA MAIL, FRIDAY, MAY 2, 1958.

TRADE and COMMERCE SECTION

TRADING TEMPO INCREASES

Puzzling Effect On

Ice House St

By A SPECIAL CORRESPONDENT

The sudden increase in trading tompo on the Stock Exchange yesterday after a quiet week had a puzzling effect on people in Ice House Street.

A number of people were sit a loss to explaite the reason bebinų. this muddi burst of brisk trad-

Que' said Ing on the market. that all the market needed was push-One buy. All bay," as he put it. Another sid that some people thought tha The Bank Riste in London might be lowered again in the very near future. Reports Lantion all seem to point this way.

Bank Rato

from

These people argue that if the Bonk Rate Is lowered from s present live per cent in London, thun Hongkong's Big Three Banks are bound to lower their rale from the present seven in tight per cent this time, thr malcini

cheaper and money elving the Stock Market [1 adled hoort.

Whatever reasons are behind This rudder herease in trading. It certainly pushed shares up on

wide front.

towards the close resulting In an overall furnuver of AD- Droximately $3.713,000. Thr beiter ruquity evidenced during the latter half of the week caused prices to harden In most sections,

Utilities were in good de- mand with Efretries, Chlua Lights, Telephones and Tramu lacking on ureful galna,

Hongkong Lands were active but there was little change in price,

Hotels were well supported throughout and made further steady progress to close at le top level of $18.60,

11K Bank Lombard Ushult Wheelock HK Wha

64

3244

May 1 780

Up or Down

--3-

HONGKONG

STOCK

EXCHANGE

★ The Share Market At A

Glance ★

Mar. 27

Apr, 10

785

785

Apr. 12 782148

Aur. 24

*00

3344n

124

3244

3244n

steady

72

710

72

7114b

73n

+$1.50

$.05

425

0.100

6.05b

4.10

+50

117

105xd

10P

1103

110

steady

FK Docks

45x1

44s

-$2

Provident

12

11.40xd

11.30

11,40

11.60

+200

HK Hotels

10.10

17.40

17 50

19

18.00

Our Own Correspondent

+600

HK Lands

3021

3314

32

3214

1214

steady

Business done

on the Hong-

HK Really

1.425

1.475b

1.475b

1.500

1.50

steady

23

23.80

21.70

24.10

24.00

+5Bc

1178

1175

1130

110N

112

+$2

Yaumatis

97

93xů

931

95m

90

+$1

Ca Lixhts

12.30

17.50

17.40

17.50

18

+50c

Electrics

20.20

20.00

24.40

26.40

26.80

+-430

Sharen

Hoyer Hellers

Snits

IK Telephone

25.70

2040

20.10

26.30

20.40

+10c

21.

20.00

20.60n

20.30

22

+$1.70

lik Bank

Dairy Farm A. S. Watson Yancisze

16.90

17.30

15.90xdb

10.40

10.30

10c

INSURANCES 775 182.23

700

74.00

10.80

11b

11 20

11.20

10.80

---406

4.4501

1,200

4.236

5.25b

5,45

+20c

0.10 1000 7

3.6m

3.65m

3.60b

4.375

4.40:

+2140

K. Wharf.

107

100

100

4.6250 B

10.100

10.100

10.100

10.100

steady

4.55 8.600

4 55

4.55b

4.801

-30

Dock ..*.**

42.00 100

Tuvider1,

8.43b

8.45b

8.45m

·UK Trams

Siar Ferry

G.1. Cement

Alliert

IK & FE Inv Textile Corn Nanyang

The New

York

Stock Market

New York, May 1.

steady

NEW YORK COTTON MARKET

crop showed The stock market made a new assault on the year's

Cements were the brightest feature on the closing day and were approximately 52 Higher Than the previous week.

Chilma Provident, nome slight Improvement, `

Hongkong. Banks were fairly active but yielded LUTII. ground.

Unions

steady but were somewhat inactive.

Elsewhere there was te of note to report,

Rubbers

generally

were quiet and fractionally easier.

Market Diary

N

Int'l Tin Council Decision

|LONDON STOCK MARKET

¤

London, May 1. The stock market had

choorful day today, Indus- trials were firm though the buying continued to bo weak.

Several stee) and engineering

London, May 1, The International Tin Coun- cil announced today it had decided to extend the control of exports of tin for a third period from shares moved up a chillius or July 1 through September thereabouts on the Prime Minis 30 with a fatal parmissible tera pledge that the Conserva- export amount for the six Ulven "would restore the steel participating producing industry to a position of political countries of 23,000 long curlty,

Rolls-Royce gained 2 shillings spence and electricals like reached Associated Electric and C, A. gained a shilling or

tons,

The

decision

was

kong Stock Exchange this marsing minounted to approxi- mately $912,000, Noon quota-duling its three-day meeting in | Parsons tions and the morning's transuz- London which tions were:

BANKS

SHIPPING

Wheelock

LOCKS, ETC

کو

(0 11.50 11,70 2,009] ««

3,703 LAND, ETC.

IK Hotel 18.70 1893 203

IK Land

Itealty

HIBER

Amaig.

Tru.....

A. Tawoh

Now York, May 1. Unfavourable

nows, Electriu emphasising excessive rains and flood conditions

1200

night,

concluded, to more.

There was a real demand for

At the same time the Coun-oils, Royal Dutch up 10/- and

the annual

re Shell, new,

lp 3/9, British

cl announced allovation of one-twentieth of Petroleum up 37-

of the parti.

the percentages

producing 1. cipating

13

$1.70

countries

There was some activity in under the terms of the intern- German bends. Japanese lens Premium were all unchanged. tiona) ugreenient,

for the dollar slöcks ensed zt

These new percentages, which Bttle-United Press.

110 are operative from July 1, 1058,

are as follows: Belgian Congo and Rutandi-Urundi B.02, Hollvin

19.92, Indonesia 1941, Malays New York Metal

14.00 37.50, Nigeria 5.00 and Thalland

8.35,

Futures

New York, May 1.

The tommuse held in the buffer stock at December 31, 1957 was announeet us 16,300 Prices of metal futures closed today in cents perb. og tol- long tops,

lows!

Lead Bay

10.901

10.90

8.356

3.430

23.8CH

27.6M

03.021b

1400 0

Humphrey. 14. 10 sự 300

32.76 13

1.00 1.23

1.773

10.10 12.00 32.75

L

1.03

1.3520,000 a 1.323

UTILITIES

Yaumati 9000 97.50 140

Traih 24.30 7€ LG 24.70 Stor Ferry 18 124

50

9.50 00.00

C. Light

10 ... LB 10.50

The Council at is meeting further extruded to September

July

100

10.23 30

GEO

3070 Telephone 20.00 20.70 123 (

29.00 27 1,200 M

the authority previously zine 10.10 granted the buffer stock mana-

MAY

July

20.00

1300

23.00

Ker to operate within the mid- | Copper May 20die range in the ogreement- from £790 to £830 per ton-

July

Tia

May

6000

26.10

July

in southern sections,

170

26.70 United Press.

United Pres.

from Lowenstein & Some

197

Alterati Am

joined with prospects for INDUSTRIALS

H

240

...

Stuck Fage. Membi Iron Corp, Minna

200

In keeping cotton futures

300

2910 ** 23.73

sparked by

Mansion Developitent Menantu Chemical Co. Mewngomery Wed

153 v

354%

Motorola se......

National Cash Reg National Dalry Prod. National Lead

081

44

80

Ohio

| National Steel Corp. New York Central Olin Mathieson Otis Elevators

'

122

03.

high today but late profit-taking stalled the attack.

Although prices vased their highs lote in the day, the market Still Anished with Prunerous gains of a point or mure.

Industrials were olls, metals and chemicals. Ralls Chad a number of good gainers,

although Chesapeake & Lacked up more than a point. | Polarola" featured the specialties day. T/0:

than 3 with in of more points,

Here is a' market diary of the

The most outstanding feature of the whole week was Cements. which, after sules l 520.41

ring The week. suddenly Jumped up to $21 yesterday &dvarwing further during the day under steady pressure. The Flare Bully closed at $22, a week: guin of $1.70 for the week. The Friday: muiden demand for this share may be because people have Monday: suddenly realised that the stock is a good buy at its present low .price.

Steady Demand

Hotels have been tratendy demand throughout the week and they have risen from $10 to $18.00 'yesterday.

All Blue Chips tacked on gains for the week with Trams. Electrica od China Lights in the fore

Ailled Investors, which went up 772 cents last week, were quiet this week.

Quiet $476,000.

Qulut conditions, T/O: $515,000, Little more activity. T/O: $1,048,000,

Tuesday: Wednesday: Little change. T/O: $430,000 Thursday: Prices advance on wide front., T/O: "ST:230,000.

New York Foreign

Exchange

New York, May 1. Closing rates were Sinadu

Turnover for the week was England omeini

with a total of South Africa. psix lakhs

$3.71 lion, compared with Argentina

$3.1

million last week.

Tally Peru

was 13 higher. six unchanged

and ive lower. compared with

}} higher.

Seven unchanged

and six lower last week.

Better Enquiry

Here is an Ice House Street observer's

account market:

Uruguay

of the

Br

quiet conditions prevailed on the Stork Market during the early part of the week but the tempo of trading Increased

Melonnell

Owen-us Glas Oxford Paper Co. Pacifte Gas & Flee

American Telephone lost Pan American Airways

Baount Pictures more then a point. Before Parke Davis Co... reallying set in, some Issues Pening J. C. Co. were up more than 2 points, at Penn, Sult Co. their highs. In some instances guias were cul in half.

| Of a total 1,177 issues traded, 526 closed higher, 301 tower.

New York Stock Exchange volume was 2,030,000 shares.

New York Exchange volume was $5,780,000.

American

Stack Exchange volume was 150,000 shares.

closing averages Dow-Jones

1.03-5/18 (33 industrials

www.United re

Other unchanged

Closing Prices

Putlo Morris

Procter & Gamble Co. Pittsburgh Plate Glami Publicker Industries Pure of

Radio Corpoison Radios Corp. Pret.

Republic Steel

504

a higher government loan

The day's

on an upgrado today, Closing around best levels the list ruled 14 Wigher to points lower, Open-¦ ing prices were tip 2 10 points. New Orleans elosed up 13 points.

accounts More encouraging from the textile trade, where buyers reportedly were show- Ing more Interesi in print cloth Yer fabrics. and Grmness i the stock innrkut, added to # better feeling,

crop

Most of the new deliveries rose to new seasonal highs with the early 1950

deliveries Koing

the

3314 A B per cent

statisticians

STORES ETC.

لان المراة

Dairy. XD 1950 10.00 3402

Watpor...

10.00 11.19 Lane, Craw 18.20 16.46 COTTONS Textiles ...

*

23.40

14.30

1

1500 10.39

4.50

4.00 ६.३.०

Vibru... 14,40 Sungain...

170

115

NAANEOUS

NEW YORK RUBBER MARKET

New York, May 1.

*

*

ACTOSS

bund

Reynolds Metal Sears, Roebuck & Co

37 cent line.

Shell O Co....

Saint Her. Paper Sinclair O1

551

Betony Mobiloil

Sutar Aircraft

งด

were:

South Puerto Rico Sugar Southern Co. (The)

Evening-up $11

May delivery, following fance of delivery notices for 400 bales, featured relatively quiet deal- 2728ings in old crúp months,

the

Rex rubber futures today 35 points closed 15 to higher with sales of 125 contracts.

*

*

20

437.6L

Southern National Ga

40

Moy: 24.80: July: 24.65; :pt: 24.00: May: 24.93.

2.817%

20 ralis

2.82%

13 illex

77.13

.0740

151.03

Standard, Qu ut Cal,

locks

IN45

40 bonds

*9.90

Standard O of led,

TEKKI

Comin. future price index...

159.73

Standard Ol of N.J.

Sleep Rock (Toronto ExRe

Sterling Drug Co.

39

Studebaker-Packard Corp.

35

74

Texas Co.

li

236

Textron inc

10

Tide Water Assn. Oil

32

ie

American Airline

Time Inc.

American Catre & Rudlu Curji.

42

Twentieth Century Fox Film

American Cyanuald Co.

45% Union Carbide

871

23 X

Amer. Forgn, Power

Union Dit of Cal..

4336

Union Pelle Raliway

30%

United Go

Corp.

432

U.S. Full ""...

20

U.S. GypsuTTY

1744

U.S. Line Co.

U.S. Rubber

4331

11.S. Stee!

London Foreign Exchange

London, May 1.

Closing rates were: New York Montreal Capenhugeti rankfurt Zurich

2.01-2.017 2.32 13/10-2.72 15/18 130.475-239.52 18.3546-18 3574 $1.717-11.7245 12244-12.297.

Others unchangeit.-United Press.

Alden Inc. Avy, Alled Chemicals

Allied Mills Inc.

Alla Choimis

A. Brake She

Am. Cu & Electric

Am. Mach Fdry. American Melai

American Smelling An. Sugar Ster American Tel & 79 Amertean Tob.

Anaconda Copper

Armen Steel

Armour

B

All Coma Mining

Baldwin-Lima-žiams.

Baltimore & Ohio

Beneficial Fintice

Belix Aviation Corp

Stokely-Van Camp,

Sunshine Mining

* 1024 Swift & Co.

**

وية الان

274

$23

4042

United Aircraft

312 the

201

ur

basis

11.061

PO B•I│EA

COMPANIES

PASSENGER/FREIGHT SERVICE

10th May

4th May 1arty May

Balled 1/4

4th June

Siled 304

2nd June

19 May

21.t

June

26th May

201

June

Graves longkung | Der London

ith May

th

Jurie

13th May

8th June

June

Mel

July

16th June

24th July

4th July

August

انه

"HUNIIA" calls S'pore, 1'. B'wet., Penang, Aden, P. Sudan, P. Baid, Havre, London, Hamburg. Rotterdam & Antwerp,

E

BRITISH INDIA 5.N. CO., LTD.

*

"SANGOLA"dur 16th May

#

satta 27th May

From Japah the Singapore, Penang,

Calcutta Banguon de

MANY HAPPY RETURNS

Birthday

LOMBARD BANKING

LIMITED

BANKER

A. Wire-Eneste Eng

DUPONT MAIN BOOK,

To the many hundreds of Lombard Banking Customers whose birthdays fall today, wo have the pleasure of wishing many happy retur. And to «if nur customers, we ar able to offer happy “returns” every d

yday of the year, for a Deposit Account with

We yields steady fntetést. 365 dayan Ferr

their capital OWL

Why don't you open a Bank Deposit

Account with Lombard Banking? Write

to the Ceneral Manager for your copy of

62%

"Bank Deport Account" bookṣi_No. AG,74-

Buma of up to £250,000 accepted.

GROUP ARBETS EXCKED £225,000,000 Expresó paid making Jaketion of United Micgdens (arida ber.

LOMBARD BANKING

LIMITED BANKERS

Strand Ughes

LOMBARD HOUSE

CUBZON STRIKT, PARK LANE, LONDON, WA

GİNGS ALLE (30`lines) Branches and Agents theyngkoks the Whh.

Benguet Cuda.

lehet Steel

Co.

Jeng Alplane

Burden (The

Troughs Add Machine

Campbell Saup Co.

Canadian Paritle .

Cum (3. 10) Cu.

Cal. Tractor

Celanese Corp.

C.IT. Financial Corp.

Crysler Mators

Cluett Peabody

› Colgate-Patriolive Cu

Colombian Carbon' Co. Commerci Credit Commonwealth Elec. Comotiated Edison Cunt rent out of Del Crown Zellerbach Cuban Amer. Sugar Diamond Alia Dlamand Match Co. Douglas Airtrait Dow Chemicals. Dupont de Nemours Eastem Airline Fartman Kodak

El Pase National Com

Fandy Yuance Comp. Firestone Tyre & Hubber Ford Matce!!!! General Electric

General Foods General Motors Gen, Pub. Util. Gelty "Dil

Glidden Co.

Goodrich (B. r.) Co. Goodyear Tyre

Gulf Oil**** Heyden Newport Corp. Homesisko Mining Co. Ingersoll-Tand

Inland Steel CV. Interchemical Corp. Int'l Business Machiney Int'l Harvester. International Nickel

InterBational Paper

Int'l TINU

John Manville Co. Kansas C. Power & Light

Reinero Copper Lignit Meyers Tcb.

Lockheed Alterati

Loews Incorp, kan Lune Star Camem 09,

112.10 Bouthern Railway Com.)

Standard Brands

Warner Bro

གན Westinghouse Electric

Western Union Tri. Co. West Vo. Pulp & Paper Woolworth

The unexpectedly high mid-Nuv: 24.; Jin: 24.10; Mar 7420

38 April pority prico, announced

Covering by some of Wednes-

521 late Wednesday, aroused further day's sellers, rather than any

413 bullish comment.

of parily, for the

change in the news, uecounted improvement, dealers P

Agured the Joan sald.

Dealer switching opera- around tions involved July/Nov, on on 121, Tate on the new trop

contă a pound 40 35.11

for even basis and May/July at 15 middling inch cotton. The com-points. purable rute for this season is Some of the smaller sized

2.31 cents.

factories, showed a limited buy- However, Somie Experts Ing interest in the spot martiet

the thought the ultimate support today, but

big manu- maintained an

in- Would be around 84 per cent of facturers purity.

36.47 cents for different atitude. 2004 ziddling lich cotton. The final Shipment offerings were ghit 60 loan rate will be determined on with prices too high to Interest

201

77% purity.

of the mid-July local buyers, Singapore type "C" blankets were reported offered

NEW YORK'

Prices of potten futures closed 38 today as Iuflows

-United Press,

New York Sugar

Market

Now York, May 1. World No. 4 sugar futures closed today one point higher to two points towar with sales of 198 can- tracti.

The domestic No, 'contract closed 2 points higher to one point lower with sales of 10 contract.

Both markets ruled quiet and featureless while traders awaited raw market developments.

Contract No. 4 (work): May: 334; July: 342 Sept: 343; Oct: 3.23: Mar 21: May: 5.37: July: 40; 151 Spot charla per 18. fob Cuba): 34. Open (domestic): July

Interest: Gas contracte.

0.76 Sept: 0903 Nav: 0; Spot (cents per ib. cil Ny ex-dul: 3.76, Open interest: 2.140 contracta

121

Contract

-29% Valtod Prom:

Spit.

34030: May, 3812; July, 35.48-46: Oct. 30.90; Bec. 31.25, Mar, 31.50 May. 7.94 July. 365: De 05.03.-United Prew.

NEW ORLEANS

Prices of cotton futures closed today as follows:

Spat, 3103 May, 35.95; July, 30.40; Oct., 37.23 Dec. 31.30: Mar, 37.54; May, 30.66; July 30.68; Oct., 35.05

United Press.

LIVERPOOL

freight,

at 10 cents cost and end RMA four ambers at 10 tents, cost and freight.

delivered In the New York

Oct/Dee three sheets market, were quoted at 22% cents; and one sheets, July/Aug/Sept al 24. Spot No. 1 Rss was quoted at 24 cents.

SINGAPORE

The market opened hesit 21 slightly below London parity with short covering met b Federation relling

Sudden dlp to 75% cents for May Rss brought in god buy- Cotton future closings, ignit, caused sharp reaction pence per lb. were as to which steadied price during the Americon Contract: Mayfiemoon to the day's highest 24,75; July/Aug: 25.33; Oct Nov 2353: Deg Jan: 28302 Mar/Apr: 20fa level of 7134 cents, Futures:

Mixed Contract: May/June: 25.55; No. 1 rubber per lb. May 713-715% July/Aug: 2023; QCÜNong zag |

Juna 70-715% Dec/Jan 27,09; Mar/Apr: 2730 No. 2 rubber per . stay 0715-001

No. 3

BAO PAULO

JJ

No. 4

Spot rubber unboled

Blanket crepa

No. 1 pale erepo

LONDON

PENINSULAR & ORIENTAL S.N. CO.

Outwards

"BALSETTE" "CANTON" "BUNDA" "BALMARA”- "CORFÙ" "SINGAPORE" "CARTHAGE"

Tumewards "CANTON" "SOMALI" sje

"CORFU" "SUNDA" # "CARTHAGE"

Leaves Loudon Salled 20/3 Salled 1/4 Salled 1/4

Du Hongkong

Via 'pore. Tenang, Colomba, Bombay, Aften & Ft, Sald.”

SOMALI" calls Singapore. Penans. . wettenham,

Ikeнce direct to layre & London.

*

"ITOLA"

"URLANA"

"TRIA"

due 11th May A 13th May

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

dus 16th May Eakls 11th May

due 11th May salle 121 May

from Japa

for. Singapore, Hasrah, Khorramshahr, Kuwait, Dubai Pe Karachi

from Japan

for Singabure, Penang. Blaunager & Bombay

from Japan

Ear Singaporo, Madent, Cuchin,

Sc

Krachl

Bombay

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

02-05 00-01

712-717 0311 9511 19-77

"EASTERN" in Port

spit 4 May

All prices unquoted today, In the United States, the average price OF one-Ineli cotton al 14 designated spet

rubber market markels was 34.06 cents.

Total mules at these markels steady. Prices closdd today in were 31,007 bale-Uniteri pence per l. as follows:

Ke, 1 R spot Press,

London Metal Prices

London, May 1, Prices of thetals closed today

follows:

Exchange Rates in sterling per long ten

Business was done it the local in unofficial exchange market thum morning at the following rateľ: 1.9 dollar (pår #1) b........... Sterling notes (per £1)

Tri) | Australian notes ipër, 21). Indotesian rupiah, (pay 100) Blanticat cowr 100)

·21%%' dingapore (Straits)

8.70

Copper apot

-month 10.13 Lead fet Kaur Mang 13/0 (6.09 | zme 1st hall Miy 28.35

1.80

The

Settlement house terin:

July/Bepl

Oct/Dec.

Jar/Mar.

General markets, cif basis.

May

June

July

Istate crepe thin May

thick Jund

ANISTERUÀM

W/23

2154-219%

The rúbber market was easy

Buyers Sellers

0 today. Prices closed in guilders per kilogram, ell May as fol- TUM Dow e.

1531

173.

rubbed in #No. 1 kubbar auto 13 No.

ribber ... 833 No. 1 crepe.

10 năm.

8.01 tom.

1.95 nom.

9.10 nom. Ünited PreOS,

HARAFURA“ due 2nd May fla 4th May

frem N. Chiha

Fir Jewelton, Labuan, Bandakan

Brisbane, Sydney, Port Kembla, Melbourne & Adelaide

from Australia for Japan

Al vessels have liberty to call at any porté on or of the route the route & sailings sto unbjket to change or amendment with or without notice.

For teft purticulars apply to: MACKINNON MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos: .27721-4.