1958-05-16 — Page 9

China Mail 德臣西報中國郵報 All

THE CHINA MÀIL, FRIDAY, MAY 16, 1958.

TRADE and COMMERCE SECTION

HK EXCHANGE TURNS QUIET Cotton Futures

Majority Of Prices Remain Unchanged

The

By A SPECIAL CORRESPONDENT Hongkong Stock Exchange turned quiet but steady this week with the majority of prices practically unchanged from last week.

Althoughi

Par higher. 1 unchanged and It is reported that

inmhe tower. Last week the tails mere is a lot of rely cash

lve unchanges was 10 higher, The Colony, investors have been neling cnatiously due to the pre-and nine lower. rent world pollitcal conditions.

Even though there

Du la the slack enditions. not the fover fell from its high

been much aclivity on the mar- of 94.33 million last week to ket, it has managed to keep #$1.75 this week. prices more or less steady with

the tally being for the week.

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

Badness done on the

Hou

Hongkong Banks continued to

fat losing mother $250

work. Their at London regular i

shares are sti) 1 140.15.

Docks resized the 51,50 they inst last week with a schu pon- terdays at $42.

There was little movemen: ini other recent popular issues,

Nanyangs and Textiles warh

ve been rather quirt e te

may declare higher hats the year beratase of better earning! market mer believe.

Dried. Up

Here is a Tee House Street oberver's

LeCount Df

the

kong Stock Exchange this market;

morning

amounted to appro- quota- imately $365,000. Noun then and the mucning's Letions were:

BANKS

INSURANCES

7 Ально..

Wheelock..

trans-

vers Keeru

Kairs

775

2 773

פות

IK Bank Lombard Union Wheelock HK Wharf

steady

* The

Share Market At A Glance ✰

Un or

Apr. 17 78214b

Apr. 24

783

May 1 780

May B 77734

May 16

775

INwn

-$2.40

322

38%

324941

10b.

utandy

71440

730

7214xds

-$1.50

4.10b

6.Dub

6.10

0.10

alcady

100

110

1101

102

107b

slondy

JJH Becks

441

4014

+$1.59

Provident

11.30

11.60

11.00

11.50b

12.506

IK Hotels

17.69

18.00

18.90

16.99

steady

HK Jands

3214

321⁄2

3214

slady

IIK Realty

1.4735b

1.500

1.80

1.55

1.55b

steady

HK Teams

23.10

24.10

21.00

24.70

aleady

1150

110n

112

110b

111b

+$1

0314

05m

DSL

-500

17.40

17.50

1714xd

17.50%

sloady

20.40

26.40

20.80

20.00

26.80

109

20.10

20.20

26.40

steady

G. 1. Cement

20.600

20.30

22.30b

~~200

Dairy Farmi

15.00xdb

10.40

10.30

16.40

10.30

-106

A. 8. Watson

11.20

10.80

10.70

10.80

--100

Yangisze

5.256

5.25b

5.45

1.40

5.356

-Bo

Ailled

3.805

4.375

4.400

4.40m

4.20

-200

HK & FE Inv

10.10

10.100

10.20

steady

Textile Corp Nanyang

4.55

4.55b

4.50b

4,525

4.55

B.45b

8.455

8.450

8.55b

8.50b

Star Ferry

Yaumalla

Ch Lights Electries

IIK Telephone

GENERAL RISE GENERATED ON WALL STREET

New York, May 15.6

Railroad shares generated late in today's stock market session to round out a general rise that started with strength in steels and oils.

more, OT

Msian Development Monsanto Chemical Co. Montgomery Ward Muloroin ne.

2144

35 35%

National Biscuit Co.

411

Several of the carriers rose a Mesabi Iron Corp. including Minnesota Mining point

Pacific, Southern Southern

1inois Central, and Hallway,

Baltimore Western Maryland, experi- & Ohio was up nearly a point. The Stock Market

Galus in the steels conged enced

Its quietest one of werks This year with the more than a point and the oll overall turnover only amount-nivance ran to better than two. ing to $1,756,000.

Auto issues, both high-priced

National Cast Reg, "A" National Dairy Prod. National Feed

National Steel Corp. New York Central Ot Elevators Owen-Illinois Glass Oxford Paper Co.

The recent buying power ond low-priced, scored frit- appears to have dried up for tonal gains with Chrysler, the the time being. and possibly strong feature. Electric Auto- | Pacino Gas & Elec.

operators аге virwing theile a Chrysler suppller, se world political sliuation with new high in Some caution.

ments,

the auto equ Parke Davis Co.

The main feature in such a The market ignored the new the Russlan satellite und con- centrated on bits of favourable business news.

bren quiel market has stradiness of the undertone.

Prices have generally been well maintained and, in fact,

virtually

change previous week's

LASURANCES

Limon XI..

SHIPPING

G.0%

£20

GGUKS, ET:**

L: WHH!

305

xhow

4073

2411.44

fram elosr.

LAND, ETC

HK Land

5 32.73

1503 10.00 112 50 100G 25

1:55 120003 ka 130 Rouva 1.35

1.53 1.223

1.40

1.30 500 41275

Aovident

k Hotel 18.70

Herity ... 1.325

RUBBER

Asists

UTILITIES

....

Har Forry,

Yownall

246 24.80 1300 724,70

110 113 94.50

C. L x 1720 17.50

Tram

Electric

ไ

500 $2.39

200 ut 17 43

500

20.10 2.50

200

INDUSTRIALS

ats, re.

کو ادا

WELS

Bus. it.

44TTONS

Talile

24.20 54

11.30

16.10 1.36

INVESTMENTS

Allied

10.0

157

450

5.35

4.33

the

Cements were again disap- pointing after their cent en- and couraging performances they yielded night ground.

Elsewhere there was little of nole to report.

Rubbers were quiet.

Market Diary

Here is 170 the week: 5001733 Friday: 100 20 44

5001623

500 11529

300-11

Monday:

Tuesday:

a market

diary

Tack of interest. T/O: $264,000. Outlet conditions. T/O: 3452.000.

Incentive. Lacked TO: $320,000.

conditions. T/O: $220,000.

maintained. $480,000.

Wednesday: Qulet

Of a total 1,155 issues traded, 538 were higher, 350 tower.

New York Stock Exchange solume was 2,470,000 shares.

Exchange New York Stock bond volume was $4,270,000,

Stock Exchange American

volume 990,000 shares. Dow Jones closing

Penny, C. Co. Philip Marris...

+840.

London Market Paralysed By

World Situation

London, May 15.

Stock market was more or less paralysed today with fow willing to sell and still fower willing to buy. The situation in France and the launching of a giant Sputnik were to blame.

Turnover was small at 7,247 bargains,

rarely British Government appeared on the tape and closed $34 unchanged.

NEW YORK RUBBER MARKET

New York, May 15.

See-Sawed In New

York

New York, May 15.

Cotton futures today see-sawed over a range of $1

a bale, responding to small orders either way in generally quiet doalings, Rallying briskly

nfier

Rox Rubber Futures today

aporation reported luat entries clased 15 to 20 points post-opening setback, the mar for the week ended May

and re- lower with sales of 27 | feet levelled off ogate to elors totalled 11,814 bales

with minor not changes. The possessions at 18,300 bales, Tlus

bales close was lett 3,149,987

1957 loan

contracts. May: 24.03: July: 25.37: Seat: Keneral fist at the 25.40; Nov: 23.33; Jan: 23.55; Mar: off three to up one point. The crop cotton still unde:

narket opened off ve o apagainst 3.898,257 balts Impound- 25.30; May: 25.30.

one point. New Orleans closeded to the same time last year. The cerlillented stock declin- off three points,

The market drifted irregularly lower with the tone being set in ship- by the caster trend ment offerings. Smalt dealinga included intra-dealer exchanges for physical of July contracts rubber,

In the shipment market, Singapore type "C" blankets were done at 10 cents, cost and freight, May/June ship

Brokersi estimated

woto stil Around 3,000 tons unsold at that price late in the day.

ment.

Sellera praclised caution fol-ed 343 to 21,559 balts.

NEW YORK Jowing three days of gradually

Prices of cotton futures closed. suggling prices, and a cumul tive setback of around $3.50 atoutny as follows:

Spot:

33.24; Get: 30.40; Juty: bale from last week's Lensonal

30.14: Dee: 30.00; Mar: 37.20; May: - tgh levels,

37.22 July: 38.55: Oel: 30.18.

NEW ORLEANS Prices of cotton futures closed today as follows:

33.25: July: 30.34 Oct: Spot: 36.12: Dee: 38.88; Mar: 31.18 May: 37.21: July: 34.58; Oct: 36.16.

LIVERPOOL

Improved crop weather news, highlighting reports of mostly clear condition over the growing area, also blunted new buying interes!,

CONTROVERSY

were

Earlier, Singapore sellors Conversely, buyers offered blanketa at 10% cents, I hesitant in face of quietness in but shaded their views when the toxtlie trade and local buyers manifested con- tinued indifference.

Other sales included a mo- of RMA four derate tonnage

further reports

m11 Of

curtailment, especially in the production of cotton grey sheelings.

Other traders paused while ambora, May/June shipment they watched foreign political ort of Singapore at 184 cents, developments unfold, and pead- cost and freight. That price ing commencement of Senale also represented a reduction of Agriculture Committee hearings

cent from the sellers price quoted at the opening.

Locally, Spol No. Hss was quoted at 25 cont. nominal.

SINGAPORE The market opened lower UN advices disappointing Landos but steadied at lower levels on sharkcoverings, but there was soine enquiry for blankets und lower sheeta.

Price held steady with further shortcovering, but May LISS position still uppenes to be tight with sellers very reserved. No, I rubber per in. June 121-728

July 72-721 Leading industrials were No. 2 rublar per . June 10-70

with few of No. 3 quiet cuttolly them able to move more than No. 4

Spot rubber vnbulod Utree pence, Imperial Chemicals, Blanket crepe....

meeting. No. 1 pale grepe

its

contrived a rise of three pence, Unilever, almost alone, managed i

The rubber murket quietly quoted at Prices:

0.5*

BA-BA

•

315-636

74-7654 54-50

After

7015-7815

LONDON

Pan American Airways Faramount Pictures

1432

was

3019

a rise of 3/6.

slendy, with

spot

21% pence

per lb.

243%

Procter & Gamble Co

FLO

Pittsburgh Plate Class

Foreign bonds rarely appeured jon--the tape. The Germans

closed unchanged

July/Sept.

Det/Doc.

21%-25% 21-21

31-217

as did

Japanese

the the

Jan/Mar.

April/June

General markols, eit basis,

May

21-21

cent which rose. 10/-,

June

25-2112 21-21

Publieker Industries

Pure 04

Radio Corporalien Radla Corp. Pref. Repulile Strel

eynolds Metal Sears, Roebuck & Co

Shell Ol C... Szint Reg. Puper Sinclair Of .... Rocony Moblinil Solar Aircraft

averages

South Puerto Rico Sugar Southern Co. (The) .. Southern National Gas 457,08 Börrilera Hafiwa Com. 112.34 Standard tranda

77.34 Staniard Oil of Cal. 158.16 Standard Oft of Ind. D0.04 Standard Oil of N.J. 150.23 Sterling Drug Co Stokely-Van Camp Studebaker-Packard Cup. Sunshine Mining

Swift & Co.

Tide Water As, Oll

Twentieth Century Fax

Union Carbide

| Union Oll ut Ça), ...

291

3712

UNCHANGED

for except sented of the Tokyo $ per

Dollar stacks were marked lower but their

mostly

mium remained unchanged at 15% per cent.

Oils were the only cues ap- peating frequently on the laps

30 and they covered a fairly wide

Tango

were:

30 industrials ....

20 ralis ...

1 tes

Klocka

40 bands

Comm. future price ladex..

Closing Prices

Alden Inc. Acy.

$ 2011

Texo Co

Allied Chemicals

734

Textron inc

Alled Milla Ine.

Als ChaJineza

Time Inc.

Am Brake Shoe

American Airline

American Cable & farlo Corp.

American Cyanamid Co.

Am G & Electric

T/O:

Ain. Jame Prod.

Am. Mach. & F"dry

|ūs. Gypæn

American Sinektog

U S.

U.S. IDE

American Tel. & Tel

1702

U.S. Steel

American Tob. "D"

0512

Anaconda Copper

Westinghouse Electric

THEL

134

West Va 'Pulp & Paper

Woolworth

444

United Press.

Bendix Aviation Corp

Thursday: Prices generally

MANY HAPPY

RETURNS

thdays

LOMBARD BANKING

LINITLO BANKKAN

Atiye. nisserts

DEPOSIT MANN DOOK

Banking

To the many hundreds of Lombard customers whoso birthdays fall today, we have the pleasure of wishing many happy

tums. Ansi jo milpur customers, we are shlo to offer happy "returns" every day of the year, for a Deposit Account with usricida alcady Interest. 365 days a your Bir captat grows. Why don't you open a flank Deposit Account with Lombard Donking? Write

NK.

62%

to the General Manager for your copy of "Bank Deposit Account" booklet No. A0,7€

Sum of up to £250,000 accepted,

GRGUE AIBETS EXCRED £25,000,000 Juhyre 1) palé without deduction of United Kingdom income Janta

LOMBARD BANKING

135123 DANKERS

Hand Other LOMBARD HOUSE

CURZON STREET, PARK LANK, LINDON. WB

GRO 4111 (30)

Apciate Company LOMBARD BANKING (FAR KAST) LTD,

· Union fidg., Bayspors, -9,05 18 2016. – TOL MULTI

Ranchar med Ågesta zhrouchond the Parkda

American Metal

A. Sugar Ref.

Armes Steel

Armour

Atlus Curis. Alsung

Baldwin Lima-lain.

Baltimore & Ohio

Benefclub Finance

Benguet Cons

Bethlehem Stoel

Boeing Airplane ...

Burroughs Add

Campbell Strap

40x4

chine

3014

Canadian Pacific R.

Cave (J13) · Co.

Cat. Tractio Celancic CONT CIT. Financial Corp.

Mamba Bank

Chrysler Motors Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Carnonwealth Elec. Consolidated duon Continents) Oil of Del Crown Zellerbach ... Cuban Amer, Bugar Diamond Matels Co. Douglas Aircraft Dow Chemileata Dupont de Nempura

Eastern Alrine

Eastman Kodak

El Paso National Gas

Family Finance Corp

Plesions Tyro & Rubber

Ford Motor .....

General Electriu

General Foods

General Motors

gen, Pub. UNI,

Gen, Tyre & itubber

Gelly Oll ...

Glidden Co

Cloodrich D. r.) ca

Goestyear Tyre Grumman Alterat

Hommelske Mining Co. Ingersoll-Rar

Inland Steel Co. Ken Int'l Busines Machines Int Harvester

International Nickel

International Paper

Int'l Tel Tol

Form-Manville Co.

Kenme C. Power' a" Light".

Kenneco! CoVDAE ...

Liggott Meyers Tou. Co.

Lockheed Aircraft.

Loews Incorp.

Lane Bur Cement Co. Lowenstein

Bonx.

McDonnel Aircraft

Stock Exgo.)

2014

Union Practo fallway

United Airerati

United Gan Corp.

U.S. Foll

Wainer Br.

Western Union Tel. En

London Metal

Prices

and

from high to low back again. Royal Dutch closed unchanged but Shell

and

Burmah con-

Brlilah Petroleum trived to gain about 17-, Cana- dian Eagle gained Od.-United Pross.

New York Sugar

Market

Now York, May 15. Jay World No. 4 sugar futures closed today unchanged

Landon, May 15.

No. 1 1 spot. .......

Settlement nume term:

June

July

Estate orens

thin June

thick June

United Press.

West German

Record Export Surplus

Wiesbaden, May 15. West Germany had a record export surplus of 572 million marks in April,

Faderat The

Statistics Office announced today. Exports totalled about 2,000 to one point lawor with million marks or 0.6 per cent more than In April last year, sales of 118 contracts.

Imports were about 2,414'mli- Domostie No. 8 suger closed llon marks, four per cent less unchanged to one paint lower than in. April 1857.

March this with soles of 39 contracts.

Compared with Small

house year imports dropped in April commission eclling orders predominated in by seven per cent and exports

the world contract,

Prices of metals closed today

10% OWB:

Tin Sput

3-month

40%

Copper sput

by three per cent. thure

from January Total imports In the spot market, Weno

unconfirmed reports that to April 1958 were 10,100 mil

100 million in sterling per long ton us foleraci purchased between 5,000 ton marks, about

1957 the same than in refined from Icss Buyers Bollers 6,000 tons

period: Mexico. 731. 730

11,200 were about Exports Contract No. (world): July, 343;

increase of 1772 1774% Sept. 345: Oct., 348: Mat 34 million marks on

411 Spot-icenta :

per cent.China nearly four per ib. rob

Open interest: 6,472 contracts. Mall Special. Contract No. 4 (damexlies: July, 1224 9.20; Bepi., 5.70; Nav. 6.60; 3

3123-month

28 Lead fat half

5412 May

Aug.

40 Zine is halt

May Aug.

734

1794 1792 May, 54; 1.40.

01%

3.63 Spufrents per ib. of NY dtex-duty. 5.00.

0114

Op intarest: 2,230 controls. United Press. United Prem.

New York Metal Futures

New York, May 15. Prices of metal futures closed today in conis per b. as follows:

New York Foreign Exchange

Singapore Stocks

Singapore, May 16. Brokers today quoted the following stock prices:

New York, May 18.

Zantu Liuskog Bubber Co. Closing rates were 10年以

Brush horned Petroleum 1.03 7/10

Byndlesle 10.356 Caneda

2.81 11/10 Consolidated Tin bagland official

Ato 8,00 Argenting

United Prem 20.30

Lend

July

inc

MAY

July

Copper May

July

Tin

May

July

Ubio Fross.

Exchange Rates

Bustem

was done in the local exchange marked

moming at the following roles: V., dollar (per $13.

inja | Berling rigter (per 21)

- Australian Notes (per d3) .........

1816 Indonesian rupiah (p

(Am

Slam ueal (per 100)

2013 Singapore (Sirala)

100)

London Foreign Exchange

London, May 15.

Closing rates were:

New York ..

this

Montreal

Ametercero

0.70 Frankfurt

30.10 Milan

TRA9 Park

20.50 Zurich

Opening 31.67% *B/** Saltar

*1/- Framer & Nerve Lid. Ord, 13.50 Fraser & Neave 7 cums.

$4.00 Gammons (Malays) 1,United $2.00

Bhanghal Hongkon

Banking Corp.

Hoogkoo Tm Lid

Kumper Ltd. augu

Huai Kampar Tin

$429

$1.50

Lunes Number plates inta $100

MaiaFil

.... $3.40+ New Berandah Rubber Co.

Lid.

131 9/16-351 11/10 | Petaling 'Tin Lid.

* 1939+10,00

$3,4734

Relee oll

$237445

Algapore Cold" "blynge ca Btratie Trading

$0.18%

Unlied

Evgineers Ord s

£105

todl

1131-41.719 2774051-375053

11801-1181

Wearda Uros → cumdiv. Mail Special.

Cotton future closings, in price per lb. were us follows:

American Contract: May/June: 24.75: July/Aug: 25,23; Oct/Nov; Dec/Jan: 20.25; Mar/Apri 25.05; 20.03: May/June: 20.28.

Mined Contract: May/June: 25.68; July/Aug: 20.10: Oct/Nov: 0.00 Dec/Jan 20.00: Mar/Apr: 27.20: sing/June: 27.40.

Paulo

The inarkot in Sav

was closed for holiday.

In the United Stales, the

on May 20 on long-range farm average price of one-inch ent- leglention. Callan reportedly ten ni 14 designated spot mur- the first commodity kels was 34.06 cents. would be

as the deal with1

Committee Tolal sales at these marketa

were 17,800

-- United balet, begins the series of hearings,

The Commodity C.edit Cor Press,

P.O│B•I│E&A

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N, CO.

Outwarda

"SALMARA” **CORFU" "SINGAPORE“ "CARTHAGE"

"BOUDAN" "KUYDER" "CANTON"

Wooowards "CORFU" "BUNDA" $

"CARTHAGE”

"SINGAPORE"

"CANTON"

Leaves London Salad 15/4 ~ Babe 30/ Sailey 0/5

20th. May

To: June toth June 21th Jund

Leaves Hongkong

6th June

10th June

41 July

18th July

at August

Hongkong

+--June

2nd June 17th June

30th June 10th July

fah August

28th July

Due London

Ath July

25th July

St Augu

74th August

1st September

Via S'pore, Penang, Colombo, Nombay, Aden P2, did. E “RUNDA" and "BINGAPORE" call S'pore, P. B'wet, Penang. Aden, r. Sudan, P. Bald, Havre, London, Hamburg, Rotterdam & Antwerp.

"INGAPORE" omlis P. Sudan.

BRITISH INDIA S.N. CO., LTD.

"SANGOLA" in Port

H/W No. 2

all 11h May

"FULTALA” dve H01 May

sale 22nd May

from Japan for Singapore, Penang, Itangoon & Calcutta

from Calcutta,

gung,

Hingapore

for "Japan

Itangoon

P. & 0./0, I. JOINT SERVICE

"PACHUMBA"du® 23rd May

"IDMAILA**

mail 2415 May

Que 29th May satis auth May

Chitta-

from Bombay. Cochin, A Singapore tur Japan

Iran Japan

For Singapore, Karachi. Kuwait, Boarsh, Khor-

& Dubai

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

"NELLORE" is 10th May

* Jetzt day. "ABAFURA" due 2nd May

salis 24th May

from Australia for Japan

tram Japans

for Labuan, Sandakan, Brisbane, Sydney. Naw castle. Mc.bourne & Adelaide

All vessels have Uborty to call as any ports on os'off the renie ✯ the route & saliings are subject ts chases or amendment with or without nolles'

1958-05-16 — Page 9

Comments

Private Research Note