1958-07-11 — Page 9

**THE CHINA MAIL

FRIDAY, JULY 11, 1958.

Ice House St Turns Quiet COMMODITY PRICES

Trading On

Small And

A

Narrow Scale

By A SPECIAL CORRESPONDENT

HK Rank Lombard Union Wheelock HK Whart BK_Docks Provident *II Hotels

FOREIGN EXCHANGE

NEW YORK Closing rates were:

England omelal

30-days

Bouth Africa

1-3/10 2.00-0/18 2.00

No. 1 rubber per 1b. July

2794-18. May/June A 773-7791 | July/AuKE.

cs-20 00-00

7771-75

No. 1 rubber per 1o. Jully No, 3

No. 4

Bpol rabber unhaled

Blanket coepe

No. 1 pale crepe

LONDON

585-0014

The market was easier with spot quoted at 2 13/10 pence per

16,- Prices:

No. 1 How spot. Settlement house teema!

2234

★ The Share Market At A Glance ★

June 12

June 19

7824

195

.30

29n

72

7434

June 26 705

29m 75

July B

400x

July 10 703

Up or Down

$13.

203

29л

steady

754

780

steady

-6.25

0.20

འ...

0.20

6.15

steady

Conada

102a

101

10134m

1030

102

-31

41

4131

43%

432

42n

-$125

12.30

12.30

12140

12.401

20-days

2.78-13/14

12.40m

slcady

Oct/Dec.

New Zealand

2.70-9/16

Jan/Mar

20.00

21.20

21.60

21.80

22.10

+390

2.00-15/10

April/June

HK Lands

3314

3334

3314

13

-250

Olhors unchanged

July/Beph.

HK neaky

1.825

1.00

1.075b

1.70b

1.7011

steady

LONDON

IIK Trama

26.10

28.30

20.70

28.10

20.80

+100

Closing roles were;

General marketa, cif basis, port

July ...

New York

Star Ferry

112h

112b

114

1150

1136

Montreal

8144m

95

99%%m

08

95m

300

Amsterdam

2,2014-2.00-9/10 1.60-

AUE

Sepe

Estale crepe thin July........

thick July

17.80

17.80

13

19

18

steady

2316-33% 231-23 251 ZAVO V.P.I.

Frankfurt

Electrica

28.20

28.30

2814

2014

28.10

Milan

HIK Telephone

27.40

27.40

27.70

201

20.40

--100

Paris

.. Cement

22.00

23

2314

23.10

23.10

alexdy

Stockholm

Dairy Farm

17.40

17.60

17.50

17.40

17.50

+100

irs be

the market,

12345

A. S. Wal

10.00

10.30

1150m

11.40

11.20

--100

6.75

6.80m

5.85h

$.85

5.05m

+100

Yanglaze

Allled

4.30b

$.50b

4.600

4.60%

4.575m

-20

HK & FE Inv

10.50n

10.50

10,500

10.80%

10.c0m

steady

Texullo Corp

4.00

4,00b

4.05bxd

4.10a

4.15

Nanyang

7.80x4

7.90

7.70

1:700

1.700

The Hongkong Stock Exchange experienced one of its quictest weeks this year with trading on a small and narrow scale.

The Hotels

continued The depressing effect of Announcement of the proposed strongest stort en trw of whores by the gaining 30 cents this week. Telephone Company at a pre-

£1.2.6 Bark' Interim of mium of $5 won stili evident on

Inst 5 Inercase over the market, which seemed bave lost the incentive of pre-interim-was well received on the markel this week with the shares price rising $5, Phone

vlous weeks.

The price of hovered between

$26.00

$20.10 during the week.

10

hod

year's

One of the highlights of the They week was the marking up of closed yesterday ki a afondy Rubber Trust and Amalgamated have Rubbers, both of which $20.20.

Jower-been quite netive. Trusts hard a

Al 20 cents while market, a

10 Increased Amabanated ecntn.

Despite the deneral ing prices on the

HONGKONG STOCK

EXCHANGE

Our Own Correspondent

Business done on the Itong-

Stock

th;; Exchange morning amounted to approxi- nately $827,000. Noon quota- tones and the moring's frule- actions were:

Mbares Bayer Seller BANKS

Nales

700 70715

JIK Bank

INSURANCES

Caber... SHIPPING Water.

(17

20 0.43

5410

G 16

TC.

K Whort

10% 100

Book

47th

Joviet.

12.10 12.40

LAND, ETC.

Jik itotel. 23.19 22.30 3007

Euplago 10.50 15.30

RUBBER

Ama..

Teusl

A. Towel

Sungal UTILITIES Tra....

Star Ferry Yotunju

500+

2600

1500 p 2390

Turnover for the week million compared

$4.79.

with

$2.14

million last week.

Tully WN

five algher, ning unchanged and

ten lower emred with six

11t 112441 higher, trie

nine lower Jast week

Incentive

Here is a

observer's

market;

Yaumati

Ch Light

+50 steady

U.S. STOCK RESUME

ON

ADVANCE

WALL STREET

New York, July 10.

increased

The Hong Street Stocks resumed their advance to new highs

the

Lack of Meralive led to generally quirter

conditions

volume today.

The muket quickly got over on the Stock Market this week its shock of yesterday when the Turnover Ford Motor Co. cut its dividend with

overall C amounting to approximately by one-third in a surprise move. Ford, after dropping nearly $3,789,000 million

Apart ITOM Telephones three points yesterday, held to firm today, Other which see-sawed from $26.20 steady up to $26.80 and track la motors did little more than hold $26.20, prices gearrally show their own. ed very little change from the previous week's close,

China Underwriters

an exerpilon, however,

A number of individual strong spots developed in the were afternoon, Richfeld

Closing Prices

Aldro Inc. Acy.

Alded Chenickin

Allied Mills Inc.

Allis Chalmers Am. Brake Shoe American Airline American Cyanamid Co. Auser, & Fargn. Power

A. Gas & Electric A. Die Prod

Am Machi, & F'dry American Aletal

American smelting

rose morem, Sugar Ret. and than two in the oil; Schering | Amerleun Tet, & Tel.

sbarra changed hands at $9, Jinore than two In the drugs; Amran Tab, “U”. but only two or three transac-Borrieu throu in the foods: Ananda Copper....

Amaca Steri flous were reported during the Adressograph three in the office Arnos, Me whole week.

equipments; U.S. Gypsum two Atlas fulbers

Armerin the building group; Du Pont with Amalgamated and Rub-two In the chemicals and J.L ber Trust showing slight. Im- provement.

continued

Dividend announcements during the week were:

HONGKONG AND SHANG- CORPORA- HA BANKING

TION-Intertm of £12.0 (an Increase of S in last year's interim dividend),

HONGKONG FAR EAST

INVESTMENT COMPANY-» dividend of 80 cents (an in- crease of 5 cents, over

2010 2.20

HK Land.

2006 13 314 3150

1700 v

on

1.00 1.03 -2007 12

1.TA

4000 2

1.85

4000

1.06

10075 1.773

2.70

1.10

10

2.94

112

2

200 60

DO

: 10.10

2000 6 16 10

10

Lon

18.10

500

10.10

500 10

18.30

Electric Macau & Telegalnog

2.0 20.30i

9.25 9.45 24.40 2000

1000 500

20,30

214 Friday:

23 .30

Monday:

1714 3.70

TUNO A

1745 17.00 Tuesday: 11.30

40

year's dividend),

Market Diary

last

Here is a market diary of the

Y3+ 20.20 week:

INDUSTRIALS Cement Amy tatt. STORES, ETC. Dairy'

Watson 11.20 11.40 1000

Lane, Craw

COTTONS

Textiles.

1000

4.12

Мапут

7.NU

MISCELLANEOUS

Bitert....

Vibro

INVESTMENTS

LB30 14.10

50

*

100 5.90

925

Yangtze

Allia

Telephones recover

slightly. T70: $1,391,000.

Quiet conditions.

T/O: $527,000,

Shade easter with phone under slight pressure. T/O: $940,000.

Wednesday: Dull and feature-

loss T/O: $611,000, Price movement limited. T/O: $314,000,

Thursday:

THE SYMBOL

of

SECURITY and SERVICE

ATADILITY

SECURITY

HAVEEX SAVING BERVICE

Sond

6%

Interest Assured Assots exceed £23,000,000 No tak of Depreciation No Charges or fees Convenient Withdrawals

DEPOSIT ACCOUNTS Interest paid without deduction of United Kingdona income tax

day for "Dank Deposit Account" Booklet

No. 40.7 trom General Manager

LOMBARD BANKING

LIMITAD

BANKERS

POCKET CARTOON

by OSDERT LANCASTER

**Quite frankly, Fenchurch, our efforts to get the public to took upon the Stock Exchange in a new light are not going to be materially assisted by yOUT going round asking all and jundry if they know the one about the young lady of Frinton!""

Cuse more than a point in the farin implements,

Kansas City Southern led the rails higher. U. S. Steel run up point to top a firm steel group. Boeing and Curtiss- Wright led the aircrafts up.

New High

Baldwin-Lim-Hat

Bencriptat Finance

Baltindre & Onio

Handlx Aviation Corp.

Benguel Cona.

Bethlehem Steel Being Airplane

Borden (The) Co. ...... Burroughs Add Machine Campbell Soup Co. Canation Porto it.

Case J. I.) Co.

Cal. Tractor ..

Celanese Caru.

C. I, T. Financial Corp.

Chrysler Molom Cluett Peabody Colgate-Palmolive Co. Columbian Carbon Commercial Credit Commonwea!! Elec. Consolidated Edison Continental Oil of Del Crown Zelierbach Cuban Amer. Sugat

Diamond Alk!

Blamond Match Co

Douglas Aircraft

Dow Chemicals

Ford Motor ......

General, Dynamics

General Electric

Foods

General Motors

Gen. Tyre & Stubber

Getty Ou

Gidden Co. ...

on

Texiram Inc.

Tide Water Ash L

Time Ire.

1814 Tri-Cont. Warrants

111

Twentieth Century Fox Film

315 Union Carbide

254

Vidon Oll of Caf.

39 Union Facile Railway

41

Unileil Alrcraft

Untied Gas Comp

13:4 U.A. Full "3" 4. US. Gypsum

1991 US. Line Co.

39.S. Rubber

2.8, Stocking

421 U.S. Bierl

2014 US. Steri 1.CPP

Warner Bros.

12

07k Westinghouse Air Brake 492% WoUngholme retrie

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

CHATTER ON WALL STREET

Brussels

Zurich

Others unchanged

10.0035-50dt

159.23%-1.30.MYES,

11.681-11.03% 7740-174034 11789-1123 14.45) -14.40 12.2296–13.2133

dull.

--U.P.I.

RUBBER

COTTON

NEW YORK

Prices of cotton futures closed today as follows:

3655

38.33

3387

3723

11.13

3024

SAO PAULO All prices unquoted today. In the United States, the average price of one-inch cotton at 14 designated spot marketa was not available,"

Total salen werd 29,182 bales. U.P.I.

SUGAR

New York, July 10. World No, 4 sugar futures closed today unchanged to one point lower on sales of, 171 con- tracts.

Domestic No. sugar closed unchanged with sales of 04 con- tracts.

Contract No. 4 (world) Hepi: 9.30: Nov: 3.38: Atar: 3.58; May: 3.38; Sept: 3,33 Des: 3. Spot-(cents per 1. fob Cuba); 5.40.

Open Interest: 6,410 contracta,

Contrast No, G (domestic) Sept: 5.35; Nov: 8.70; Mar: 5.60; Spot-(cents per 1b. eit NY az-duty): Open interest: 1.912 conténċta. —

METALS

NEW YORK

Prices of metal futures closed

Lead July

Stot

July

Ocf.

NEW YORK

Doc

Rex

rubber futures today

Mar

closed eight to 25 points lower.

May

July

Closing prices;

Oct.

July: 26.35: Sopt: 3.7; 20.03; Jan: 20.00; Mar: 20.50; May: 20.48 July: 29.45.

Nov:

Dee.

NEW ORLEANS

AMSTERDAM.

Prices of cotton futures closed

The rubber market was very Pricra closed today in

today as follows:

33.10

Spor

30,00

July

guilders per kilogram, elf July

Oct

today in cents per lb. as follow:

10.100

15 follows:

Drs.

Mar

Sept.

10 300+

1.20 by

Zine

July

0.586

No. 1 rubber

2.18 buyer

May

Sept,

1.652

July

No. 3 rubber

1.94 buyers

Copper July

24 POD

2.49 buyer

Det

Eept.

2011

Tin July

Sept.

92 674

Lodby

5

Bayam Sellers

F10

7314

7311

1934

No. 1 rubber

No. 1 crepe

SINGAPORE

The market opened slightly lower and eased further on o quiet market with some federa- tion liquidation,

Future closings

European Free Trade Area Agreement

London. July 10.

Unless substantial progress is made by the end of this month, there is little hope that a full European free trade area agreement can be reached by the end of this year, authorita- tive sources here said to night.

The sourers added that failure to reach agreement by the end of the year weak not mean breakdown, but it would make villmate agreement more dif- ficult.

The free tinde area negotia- ttons have been deadlocked for several months.

COMMON MARKET

The Foreign Ministers of thei six common market countries- winee

tarik first

reductions becoine dus on January 1-are meeting in, Paris on July 23 to try to reach a common attitude on the free

under the scheme

Committee

17-nation Ministerial on the free trade

New York, July 10. The recent type of action is not indicative of a fo- vorsal in trend. Rather it suggests that the markat is ready to perform as it has in the past, resting for a while after reaching new pooks. In other words, the list is likely to consolidate before moving up again, thus repeating its top-rade zone.

The like performance in effect since last October-Van Alstyne Moel & Co. Broker's loans how reflect the the influence of growing

rowd" and it is me to think stock tegarding individually

in purchases, with an eye to 001terim market deviatlón possibi les. F. Hutton & Co.

Marquette Cement Manufac- if Agured turing Co. carnings under the new depletion method, an well approach 3.74 for 1858, against 2.71 in 1987,

im d with finances vastly

the likely that Best proved it is

dividend rate may be increased to 1.80 annually Joseph Faro} Co.

601

Dupont de Nemours

107

Eastern Atel

Eastman Koduk

11340

El Paso National Gas

Firestone Tie & Rubber

50

01

P

3012

Balk

Orunima Arenas

213%

1171.

123

Honestakes Mining Co. Ingersoll Rand

Imerchemical Corp.

Int'l Business Machines

7011 4311 30011

1013

3736

Gedrich (BF)

Coorlyer Tyra....

Heyden Newport Czep.

Innd Steel Co

i'l Harvester

International Nickel Internasional Paper Int'l Tel. &e Tes. John-Morille Co.

Kaiser Indust&LACHA Koruna C. Kenmocota Copper Liggett Meyers Tob. Co. Lockheed Aircraft

Lone Star Cement Co Lowenista & Sons,

Nasl

Trust Co. McDermott J. Hay McDonnel Aircraft

Block Exgc.) Moshi Iron Corp. Minneola Mining Minion Development Monsanto Chemical Co. Motorols Inc. Montgomery Ward National Biscuit Co. Naitonal Cash Reg,A National Lead National Dairy Prod. National Steel Corp.

Sorth Western By,

13%

Am.

5714

New York Central

Anter Aviation Nurt-west Afilies(Com.) Olin Mathisen Otis Elevators Oxford Paper Co.

Haitrond shares rose to a new high since Oct. 9 and utilities since Sept. 25, 1930. Industriols only made up a small portion of the previous session's "las.

The leading issues registered small gains for the most part although Du Pont managed to Jump

two points. The best ‚gains' centred on speelal kesues.

The market gat some help from a rise in automobilo vut- put ilmated for this week, Pacifig Guy & Elec. firmer steel scrap prices, award- Part Alberican, Airways

Paramount Picuires ing of some defence and a riso Parke Davis Co. In earnings for American Tele-Femy J. C. Co. phone. Long term US, Govern- Perm. Bait Co.

Procter & Gamble Co. ment bonds moved higher on pittsburghs Plate Glast announcement the Treasury had | pure oll ..******* been a big bayer of an issue ftatio Corporation involved in the Jume anancing. Hedly Corp. Pref.

Taytinkds Metzi slipped to 2,510,000 Sears, Roebuck & Co. Volume from 3,030,000 yesterady. Of Shell Oil Co. v...

510 wera Sønt Rog. Peper 1,149 Issues traded,

Sindlair

bigher, and 344 lower. On the American

त

Socony alabili Exchangeolar Airents

males dropped to 750,000 shares south Pur

from 780,000 shares yesityday.

Bond volume'

amounted

Head OfBoo; LOMBARD HOUSE, CURZON ATREET, PARK P1,170,000 against $5,200,000

LANE, LUNDON, W., ÓRO 4111 (30 lino)

Amociated Bank:

LOMBARD BANKING (Far East) LTD.

UNION ELDG, SINGAPORE, P.0. DDX 2886. Tek: 29227

A World-Wide Dunking and Plugins Organčiarku

ico

Soubor Co. (The)

| Southern National Gua

1 Bouthern away (Com.)

on | Standard Branda

tandard Off of Cal

Dow-Jonts closing averages Standard Oil of Ind.

Wednesday,

WITC

30 Industriais

To retulitika

OS stocks ***

40 hond

Comin, tate prive index”.

Chand out a N..

Sheep Rock (Toronto Exgs.

410.00 || Bjøring Drug Co.

10.51 coly-Van Camp.

10.pe Djudebaker-Packard Corp. 100.24 HARUKIMYN MALATH

199.54 | mwili & 16.

136.11 Teena 04.

COULD RECOVER

American Breadeorting-Faru- mount earnings could recover 10 around a rate of $2 a.share by

and current 73% next.. year:

$1.

dividend rate would be restored

to 1.20....Columbia Broadcast- 384 ing earnings inercored from 452.13 In 1950 to 2.82 Last year, 6592 Pk with so favourable comparison

41

6316

ish and 1 expected for 1950

dividend could be boosted from 10. 1.20 next year-Harris, Upham & CO,

Award of Nose Cone contract

mater the Minuteman for continental ballistic missile to be made by end of this month.

ant

435 Proposals have been submitted Motors, General by General Eletric, Douglas, Avco Ford-Aviation Week. Linois Power comings in 1958 are expected to exceed $2 a share, against 1.93 last year and pending applications could Add about 40 cents a share an- nually-Paine, Webber, Jackson & Curtis-UP.I.

81

Exchange Rates

area-whose proposed mid-July meeting has been postponed may meet about the same time,

There is clearly a strong ap- preelution in political cireles

that here

pre- the urgent occupations of France's new de Goulle Government have allow- ed it little time so far to take a position on the free trade area question.

But there is evidently hope that she will be ready within the next few weeks to do some negollating on it.

The free trade area will be one of the leading topies of the Commonwealth trade and econo- mic conference at Montreal In September-China Mail Speelt.

Restraint By London Investors

London, July 10.

The announcement that the June steel production was 10 per cent down on year ago and the over- night news of a sagging Wall Street restrained in- vesturs today.

However, the markels were firm and the recent investmont expand. buying appeared to

The highlight of the day was o sharp advance in gilt-edged

Undated issues closed up to: 7/10

higher while gains to dated issues extended to 3/16. GERMAN BONDS Buying of Germen bonds pers sisted and prices advanced more thon two points.

Japanese algu ntivavcol, There was good rotéclive de. mand for industriais and my 6.70 of Hie Kafers stored with use- 10gful gaz,

In the cent Burke was done

Inarket tinelal exchange inorang at the following ruler: Ua dollar iper (1) arritu

Sterling nates (per £1. Ausreden notem (par 21)..... Indonesian rupiah (per 100) .. Tijk Bingapore (Siraiter

2570

Gold shares were quietly fi 'Coppers' wero dull. Ol lont

1.00 ground.-U.F.I.

LIVERPOOL Collon Telure

98822200

ith closings

pence per lb, were as follows:

American Contract

July/AuR. Oct/Nov,

Dec/Jan

Mar Apr May/June

Jul/Aug

July/Aug Oct/Nov. Dev Jan, Mar/Apr.

*

*

*

*

*

*

Mixed Contract

LONDON

Prices of metal closed.

120714h

in sterling per long ton

24.03

24.95 follows:

23,5| Tin

20.45

Copper xput

3-uoalh

3-otli

Lead ist hall July Lead ist half Oçl. Zine lethal July

Zine ist half Oct

PO BI EA

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N, CO. ¦

OBIWARDS "SOUDAN" *CANTON" *KHYDER“ "SUKAT" "CORFU

Leaves London Balod B/0

Salled 25/3 Sailed 20/0

7th July

Brd July "KARMALA”

15th July Homewarde Leave Hongkong "SINGAPORE" » 211 July

"CANTON"

"ROUDAN” "CORFU"

"SURAT" ♣

Due Hongkong 18th July Bath July 14th August 18th Auguri

25th Aug

4th September Dus London 29th August

1st September

1st Auguri

18th Auguel

25th September

29th Augus

17th September 23rd October

29th September

Via B'poro, Penang, Colombo, Bombay, Aden & Pt. Hald. * "SINGAPORE", "JOUDAN" 104 “SURAT" call 6*pore, F. wet, Penang, Aden, P. Gald, KATTS, London, Hamburg, Rotterdam & Antwerp.

BRITISH INDIA S.N. CO., LTD.

"FULTALA" in Port

anila 11th July

"BANGOLA dus 25th July salts 20th July

dur 29th July Wail 30th July

"ORDIA"

from Japan

lor Bingapore, Penang. SLADKOR,

Calcutta

Chittagong

from Japan!

for Singapore, Penang, Rangoon de Calcutta

(тага зарал

for Singapore, Penang, Rangoon, Calcutta, cult taxong & Chaus

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

*FACHUMBA”in Fort

tally Lith July

"URLANA” due fic July

-Kalle 11s July

*HUIMÁRIA”

due 17ils July

smile 1997 July

from Japan

for Bingapore, Young, Madras, Bombay, Bhau sagar & Karachi

from Bhaagar, Kata- chi, Bombay, Cochin, Tuticorin & Singapore for Japan

from Karachi, Bombay, Cachia, Бідлароте

Car Nicobar

for Jaben

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

"NANKEN"

*

"EASTERN"

Ane 13th July' salls 10th July

due 22nd July Kalla 241 July

tram Japan for Labuan, Sandakan, Brisbane, Sydney. Afel bourne & Áditalde

from Australia

for Japan

All venelg bawa liberty to call at any porta sa or off the route & the route & mitings szò rubject to dinage or antendment with of without notice.

For ball particüler, apply tes

MACKINNON, MACKENZIE A CO

or HONG KONG LID.: Telephone Nos: 27721 4.