THE CHINA MAIL, FRIDAY, JULY 18, 1958.
Middle East Scare Affects Hongkong Adversely
A. MIDDLE EAST PRESENT?
Jittery Selling On Exchange JAPANESE TEXTILE
A Glance ★
* The Share Market At Of
HONGKONG Majority
Shares Have
STOCK
EXCHANGE
Our Own Correspondent
Business done on the long-
kong
Stock
Exchange
This
Noon quota-
Wide Losses
By A SPECIAL CORRESPONDENT
morning amounted to approxi-War jitters in the Middle East sont the
mately $418,000.
tions and the morning's trans-
petions were:
Shares Bayer Nellers Males
KANKS
$1K Bank. 180
SHIPPING
790
20
Whitlock. 5.85 US 400V
DOCKS, ETC.
K. Wharf.
102
Unok
4235
LAND, ETC.
Hi Hotel.
20.43
UK Land. 31 3174
5.125
AO
G
4500
5.00
majority of prices on the Hongkong Stock Exchange down sharply as investors started selling some of their holdings.
:
section Auffered Price losses for the from 40 cents to
The utidy the most. week' ranged
20 vents Trans dropped 10 cente: Lights, 40 cent; Electrics. 50 cents; and Telephones PO
The market started off on good footing on Monday, but 5.0 when news of the coup d'elat f 1000 500 Tray reached Hongkong on The
day, the market started is deteriorate, and as the Mitille East situation worsened selling cents, pressure, becassie more tro- nounced.
BOJ 21.40 1000 or 21.30 2000
2120 100 3100 200 L 31.00
Heally
1,65
KUDLER
Amaig....
1.025
J UTD
110
1.55
500 A 25,00
50926.73
Bungala
A Towel
UTILITIES
Bior Ferry Yaumali
C. Light
10
it
..
כאן 154
200+ 1720
17:0
الد
By the close yesterday, there were fairly heavy reses round for the week with rome shares sce-wing through a 30- cent range yesterday.
LIFTS
(FALL
OD
1720 97%
2004 17:30
1000
500 r
17.50
2000 28 17.20
172 i
27.30
妮
Mectric
26 00 720
Telophone
21.00 25.10
500 1000
2000
INDUSTRIALS
Amey Can, 3015
WTORES. FTC,
Dalry
WALNOTE COTTONS
Tekulira
MISCELLANEOUS
Entert.
17.30
10.70 150
4.00
16.30
Exchange Rates
Burne
wale done in the unolai скенние
market
toeat thin
1.8. dollar per $!).
5.04
Sterling non per £13
16.00
urning at the towing rates:-
Aceirallats roles fyrr Ch
hdmmon uplati (per 10 Stain Real (per 100) Hingapore Strait)
That selling on the market war | for purely pollural reasons for on Monday prices were actuvily rising fast over their previous week's prices. But they tumbled just as fast on Tuesday,
The extent of the losses can be seen in the tally which was two higher this week-both of these are not through soles-seven un-
12 45 changed and 15 lower,
A
In the shipping and godown scetion, Wheelocks lost 15 cents; Ducks, $t; and Providents, 40
eents.
Hotels, which rose to $22.70 on Monday, fell back yesterday to a purlevi 10 cents lower than last week's quote of $22.10. Fonds tost SI
B00; Watsons and Dairy Far1739 hed losses.
with
Turnover for the week was $3.52 million compared $3.79 million last week,
Market Diary
Here is a markel diory of the wer.c:
JIK Bank Lombard
Union Wheelook IK Whart HK Docks Provident IIK Hotels HK Land,
HK Really
201
July 10 July 17.
Up or
Down
Jun 19
700
Jute Zo
795
July 3
BOON
795
78140
20n
Zia
20n
-17.50 steady
1414
75
7436
75120
7630
aiendly
€.20
020
0.14
0
-150
101
101m
1031
102
102,
stendy
4131
42
4314
41
----91
18.30
1234*
12.40%
13.40%
12
2120
21.80
21.80
22.10
22
$1
3314
23
J2
400 ---100 -31
1.65.
1.675b
1,506
1,70
1.05b
HK Trams
26.20
20.70
20.70
20.80
20
11eb
114
115
1136
111b
$2
19
081
93
98
steady
17.80
18
18
17.00
29.30
2815
2834
28.10
27.69
-500
27.40
I
27.70
2日14時
20.40
2012
-900
23
23.10
28.10
23.3011
+100
17.60
17.50
17.40
17.50
17.30
-200
10.30
11,50m
11.40
11.30
11.
306
5.80m
5.85b
5,85
6.95m
+50
4.506
4.60n
4.00%
4.575
4.575
steady
10.50
10.00%
10.60%
10.000
10.Gon
4.006
4.05bx d
4.10n
4,15%
4.025
- 7.90
7.70
7.100
1.70n
7.70n
Star Ferry
Yaumatis
Ch Light Electrice
11K Telephona G. T. Coment Dairy Farm
A. S. Watson Yangtze Allied
TIK & FE Inv Textile Corp
Nanyang
WAR
0016
18
steady -12140 steady
SEND
BABIES PRICES UP
ON WALL STREET
New York, July 17.
Stock and commodity markets today took on the appearance of a war and inflation economy trading despite Penta- gon statements contradicting fears the nation was moving toward a wartime basis.
Friday:
Ruded leady. T/O: $850,000,
not. Wall
Monday:
Tuesday:
Wednesday:
Last | Thurminy:
30 week the tally was five higher, 120 nine unchanged and ten lower.
20.06
Movements few and amati T/O: $589,000, Middle East crisis caused marki
down of prices. T/O: $128,000.
Market reacted further to Middle East situation. T/O: $135,000,
Street trotted uut all, Bueng Airplane
Borden (The) Co.
the war bables with a late spuri Burroughs Add Machine in activity after a lull in dealings compared with yesterday.
Tac General stuck market average rose to a new high fơ: about 11 months with all groups participating in the rise except the utility which is allergic to
fationery implications.
Leadership
}
Calu, Packing Corp, Campbell Boup Co. Canadian Pacific . Case 3, 1. Co. Cat. Tractor Celence Corp.
C.L.T. Financial Carp, Chrysler Motors
Chuelt Peabody
Colgate-l'anolive Co. Colombien Carbon Ca. Curainercial Credit Columonwealth flee. Consolidated Edison Continental Oll of Del. Leadership in stocks improved lanung Alkoll
Cuban Amer. Sugar highs in such issues with new
Diamond Match Co. U.S. Prices see-sawed in as
Steel, Bethlehem, Douglas Attetalt selive trading. T/O: | General Motors,
American Pow Chemicals
Dupont de Nemoura Smelting, Alcoa, and Goodyear. Eastern Airline
$1,142,000,
COMMODITY PRICES
FOREIGN EXCHANGE
LONDON
London, July 17.
Closing rates were:
New York Montreal
Bruneia
Copenhagen
Milan
2.70 C/16-2.80
136071-130.00
I-10.33
2.00 11/10-248 13/16
Zurkh
. Porin
Stockholm
Other unchanged
1737-1737 11722-1173
14.391-24.40
12.17-13.17
NEW YORK
Closing rates were:
Canadi
Exgland official
Austenla
J-days
90-daya
New Zealand
Sexrth Africa
Holand
Argentina
Chic
India
Pakistan
them unchanged.-U.P.E.
1.04 5/13
3.09
2.30
2.70
2801
D011
2101
2101
COTTON
NEW YORK
Prices of callan futures eleseð today as follows:
Dec/Jan: 25 15: May, Suite
Mar/Apr: 20.03; | Sept. 28.15 July Aug: 20.23.
24-24
Det/Dee.
Mixed Contract
Jan./Mar,
April/June
น
1
July/Aug: 2010 Oct/Nov: 26.10 Bern 24.29, Mar/Apr: 28.10; May/June: 20.40; July/Aug: 25 ea.
July
Aug.
Sepi.
244-247 20%-242 General inarketa, elf taste, porla; 24-4-2444 W4EPERALT
Bate creps thin July
Estair pe tuck Aur.
buyer.-U.P.I.
ung. 2054
SAO PAULO
Closings, In Colton future Cruzeiros per kilu were as fol-
PAWN:
Tot 15. Dec: 40 30; Mur. 46.00; Mav: 46.00; Jult: 48,80
In the United States, fla Average price of the-inch cotton
at 14 designated spot markets war 34.91 cenis,
SUCAR
New York, July 17. World. No. 4 sugar futures Toin spies were 11,586 bales. Closed today "eight to 18 polatsi
_U.P.I.
4
RUBBER
NEW YORK
Rex rubber ntures today cloped 85 to 125 points higher. Closing prices:
July: 20.03: Sept: 29 9; Nov: 21.00; San 200 Mor: 28.70; May 20.03: July; 20.50,
1
AMSTERDAMTMTMTM
The rubber market. was
Prices chosed today in mendy. guiders per kilogram, cit Aug.
as follows:
No. 1 rubber
2.3G mons.
No rubber
3.30
No. 3 rubber
2.00
No. crope
2.03
dietoted
93.82
31.01
SINGAPORE
higher on sales of 1,890 eon- tract
LT-
Activity centred on rails, olis, metals, steels and alrernfts.
Continental Steel and Fire- stone Tyre ran up more than fourth each at their best. Gains of three points or more camu into several and a long list rose two poinla or better,
Eastman Kodak
El Paso National Ga Family Finance Corp., Firestone Tyre & Rubber Ford Motor
eneral Dynumire
General Eltric General Foris General Motors Ge, Pub. 1991. Gen Tyre & Rubbe Gelby 01 ... Goodrich (B, F. Co. Cloodyen: Tyre
Trading which had lagged Grumman Alterati most of the day Jund a sharp | Quií On ... the #th lune when Heyden Newport spurt in
Momralake Bin of well inland Steel Co. volume ran at a rate over 3,000,000 shares.
sugar,
451,
Govt Tells Canadians
To Trade With China
Ottawa, July 17.
The Canadian Government is continuing to ancourage Conadion exporters to do business with Ching and looks forward to increas ing trade with that coun- try
"substantially", Mr the Gordon Churchill, Trade Minister, said today.
In a statement to the House of Commons of Canadiari trade prospects generally, the 10914 Minister snid he expected Bay Canadian exporters would take "renewed", interest in the China markcel in the months thead.
Cors.
12
CU
70
A
fat Dusiness Machines Big farvester..
题主
101$$
nternational Paper
In Tel & Tri rubber, Jan-Manville Co. say- Kaiser Industry
Commodities generally moved International Niekei higher in all, sections-Cocoa, graine cuites, cottonseed oit, lard and abetink. The Middle East erisks brought some cautionary selling Into a few of the International olis, but others of the group moved higher,
In the ship building section, Bath Iron Works ran up three and Newport News Shipbuilding more than two at their highs,
Stecis
Domestic No. 6 closed
Gains in the steels ranged to 137 con-more than three at their best in sates of changed on
Contineral Steel, U.S. Steel and tracts.
Contract No. 4 (world)
Kansas C. Power & Light Kennel Copper.....
Meyers Tou. Co.
Lockheed Aircraft Loews Incorp.
Lone Star Cement Co. Lowenstein & Sons,
Man, inv Trust Co. Mesabi Iron Corp. Minesota Mining Mierlon Developņient Hansante Chendes! Co. Montmory Want Motorola Inc. National Bicult Co. National Cash Reg. "A" National Dairy Preal. Nations Lead
MaDennett J. Ray
National Steal Corp. New York Centrul
Youngstown Sheet rose more Notfall & Westem ay
than two.
North Amer. Aviation Douglas Aircraft led its see-North-west Airlines (Com)
Olin Malega
Pacific Gas & Elec....
Paramount Picture
Lockheed, Parke Davis Cu Pran Salt Co. Pittsburgh Plate Glas
Sept: 3.70; Oct: 3.77: Mar: 3.64; May: 3.35, July: 3.30; Sept: 3.5tion higher with a two-point orta Elevators Spot-teenta per lb. fob Cuba: 3.76. rise.
Open Interest: 0,364 Contracts.
Contract No. 4 (domestic) Sept: D.; Nav: 6,56 Mar: B.50) Spot (cents per lh, cft NY ex-duty); 5.01.
Open interest: 1.65 contracts.— U...
New lgha were set by Pan American Airways Bendix, Cessna, Northrop, and United,
Volume was 8,180,000 shares against. Wednesday's 3,240,000.
Of a total 1,172 issues traded 610 wore higher, 346 lower.
On the American Exchange Reynolds Metal
| Publcker Inhiatries
Pure Of
Radio Corporation Radio Corp. Pret. Republie Stoei
sales dropped to 730,000 shares, Sears, Roenuck & Co. from 870,000 yesterday.
Bond volume
Shell Ol Co.
13)
CONSULTATIONS
Ho referred to the question
2 of the United States ubato on 1 sales to Chinn, as they affect undertaken by gotiations
ol 324 Canadian subsidiaries
companies, and muld American there was "continuing consulta- Lion" between Canada and the United States on the subject,
"Every effort is being made to find an appropriate solution". Mr Churchill said.-Router.
37
30
Singapore Stocks
Singapore, July 18. Brokers today quoted the fol- lowing stock prices;
Tin Smeltere
2011, Irasor & Nesva Lid Ord.....
MILLS READY TO
ROLL IMMEDIATELY
Tokyo, July 17.
Japan's big textile firms are ready to step up exports to South-east Asia if the Middle East events lead to a closing of the Suez Canal,
Hit by a world traje Šump. the Japanese cotion mills were
preparing to close, but under the stimulus of the Iraq and Lebanon crisis, textile shares
swiftly
the Stock Exchange today. Shipping. shares also climbed.
1000
For
EMPTY HOLDS
weeks they had been below face vglue" but gains of between 20 a 30 per cent pui them lovel again. Empty holdo are ready to be filled with cotton
fabric and cotton piece goods.
Crews laid off, are waiting! hopefully in the docks. One will set the touch of a switch
specd looma clattering et dull uner more--Express Bervice.
FALL IN UK
COTTON
OUTPUT
Landen, July 17. The Board of Trade today reported a 19 per cent foll in output of cotton in Beltuin in May, compared with a year ago.
The Board's journal stated that the decrenas was partially due to the early Whitsuntide holiday but production in the
Freight Market industry remained depressed."
London, July 17.
Output of cotton yarn fell
There was a considerable in-form 14.18 milion pounds in January to 13.03 milion pounds etense in activity on the Ballle May, and that. of doubled Exchange today and particularly yarn from 6.37 to 4.43 million
in the River Plate section.
The general tone of the mar ket was distally firmer owing to the fact that most operators were anxious to cover outstand
pounds.
Cotton cloth production dropped from 314 to 20.2 millon yards over the came period and cloth woven from
ing commitments in view of the man-made fires and mixtures uncertain political situation. from 12.7 to 12.3 million yards.
-Router
*
P2O B•I EA
COMPANIES
1
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL S.N, CO.
Outwarda "BOUDAN"
"CANTON"
"KNYBER"
BIEN
"CORFO" "KANMALA" "CARTHAGE"
Leaves Londen Balled B/ Balled IA Baled 20/4
70 July
zeth July
18th July 20th August › Housewards Leaves Hongkong "SINGAPORE" ♣ sist July "CANTON"
At Aucur "BOUDAN" @
*
*CORFU""
*
"SUBAT"
19th Augum
29th August 37th Septembe
Dua Hongkong 19016 July 28th July 3012 August 18th Augus 23th Aug.
3rd September
Sand September
Due Longan
2911 August
1 September
13th September 19th September
word October
'Via S'pore, Penang, Colambo, Bombay, Aden & PL. BAG, * "SINGAPORE”, “SOLDAN" und "SURAT" cal] B*pera, P. Swet, Pedang, Aden, 1o, Bald. Rævre, tondan, Kamburg, Botterdam & Antwerp,
#
"ORDIA"
"SANTHIA"
BRITISH INDIA S.N. CO., LTD.
"BANGOLA" due 13th July Jails 28th July
dus 28th July salla 2011 July
cho inh AUH
weils 11th Aug.
from Japan
for Singapore, Penang. Rangoon & Calcutta
from Japan
for Singapore, Penang Rangoon, Calcutta, Chit- tagong & Chaus
from Calculta, Nangoon, Perang & Ringapore for Japarı
P. & Q./B. I. JOINT SERVICE
due 18th July
from Kareshi, Bombay, Cochin, Singapore Car Nicobar for Japan
trord Japan
far Singapore, Penang, Bombay. Karachi, Kuwall, Barah, Khor- Tamatan & Kandla
from Karachi, Bombay, Cochin, Tulicorin Panang & Singapore 101 Зарад
tea Jupe
For Singapore, Kuwait, · Howrah, Khorramshahr,
Dubal & Korzeni
"UMARIA"
*ITAURA”
Kalle 18th July
Que 2nd July asil 23rd July
US,
Opening
Lintang Rubber Co.
15
British Borneo
*** $1.50 patroleum
*
Syndicate
Sala Consolidated
"OZABDA"
due
gih Aug.
131
Ord.
$2.00
10
Baint Reg. Paper
Fronet & Neuve la cum
prel şi
$4.45
Masla
711 Aug.
$.
47 Hongkong Bhanghal link-
Aummons (Malays) kid.
1.42
"UMARIA"
Solar Aircraft ....
1741 ing Curp
6430.
averosca Souls Puerto Rico Sugar
Hongking Tin id.
CSJARIA"
Bin Aug.
salle Dih AVE.
Bouthern Co. (The
3874 Kompas "Lid;
10th Hunt Harmpat Tin
Railway
431
Lunas Rubber Estates Lid, Malayan Breweries
$3.90
40% New Beranda
Rubber Co.
Ltd.
was $5,730,000 Binclair Ou
against Wednesday's $5,540,000. Decony Mobilos!
Dow-Jones
wore:
closing
Bpot
July
Oot.
Dec.
10.450
Mar.
MAY
37.53
July
30.03
Despite tower overseas
vices pulces, were marked down | Zine
10.500
1.105
Del.
35.71
Dec.
215.67
only slightly at the opening and Copper July ruled quict until late morninų
8.90b
24.03
Allied Chemicals
84.031%
Alled Mir Inc.
NEW ORLEANS
All ChatNETS
Am Brake Shoe
T-Cort. Wortants
American Cable & Radio Comp
Twentieth Century Fox Film
16
Union Carbide
18
Majon Oil of Cal.
Spat
Mar
July
In
ang
EASTERN & AUSTRALIAN 5.S. CO., LTD,
"NANKIN"
"EASTERN"
salla 10th July
dus sind July all 14th July
from Japan
for Labuan, Sandaken, Brabane, Sydney, Ale)- bourne & Adelaide
from Australia for Japan
All viniela ħavu Uberty to call at any porta on ay off the porta'd the rable'a asilinga'nen subject to change or amendment with, or without noties,
METALS
NEW YORK
Prices of metal futures closed today in cents per it, as follows:
Le
ad-
[ows:
35.90
37.50
37203
Sput rubber inhaled Banket erous
3692 No. pale crepe
B. Tr} TIN 5-04
20.00
Spot
anondi
23.00
LONDON
Copper
nohti
July Line Ind half
LONDON
The rubber marked was qulat after firm with epot qualed af Lead 2nd ball
In
2434 pence per 16, Prices;
Balticinent hour:
28.13
£4.506
to industrials
Do Tatis ...
FB untitles
stocks
40 bonds Cumni, falue price index
Closing Prices
50ern National Gar 105.74 Southern
174,03 Standart Brands *100%
Stallard Of of Cal 190.43 Standard oil of Ind p.17 ftandard Oil of NJ. 10.4 Sterling Drug Co.
Stokely-Van Camp. Studebaker-Packard Corp. Bunaline Mining Swift & Co.
$ 81% Teen Co,
30% Textron Inc.
Tide Waler Assn. Oll
Sis Time Inc.
443 Union Pacife Radway
United Aireralt
US FOIL "B"
United On Corp.
American Bmaking
47
US Cyp
730
Am. Sugar Ref ...
30
UB 1 Co.
7501 200
Americas Tel, & 74).
us fubber
American Tob. “R***
204 20
2001 2081
Anaconda Copper Armen Steel
47
US Stee
ATEDOMET
Jo
23%
Chip
aldwin-Tamam.
Lorence
Finance
65 Bendix Aviation Corp.
flenguet Come. **** Bellifehem Steel
US Steel 1 PC. TF Warner. Deus
Westinghaemme Air Erakon Westinghouse Mectrio Western Uniqn Tel. Co. |West Va. Pulp & Paper
Woolworth
Bat
Potning Tin Ltd.
2015 | Ramos Motel jerse
15% Singapore Cold Storago
873 Straits Trading pro
Biralts Steamship
39/United Eugister Ord. .....
29.1714
$0.0 Weare Bros.
cumdiy. China Mali Special."
Budget
Capetown, July 17:
his budget, the South Airican Finance Minister un- Government had nounced the decided not to increase incomo tax but to increase Tustom and excise duty.-China Mall Special.
Agreed Merchant Rates
Swiss Franes Maximum Sell- lg 74-13/10.
In Port
+
for full janatiralers opply sal MACKINNON. MACKENZIL & GO. OF HONG KONG LTD. Telephone kos: 277214.
Prices of cotton futures closed today as follows:
when further news from the Tin Middle East conzed eoing steadi-
ness.
-1
No. 1 rubber per 1b. Aug. 16-0014
Sept. 93-04
Amerios Atrile
Prices of metals closed today American Cranami Co.
36.10
No. 2 rubber per in. Aus. 02-03 in sterling per long ton as 30.07 No. 3 rubber per ih. AuLL-TE-TING
NO, FLber per th. A B433-07473:
Antur, & Furga Puwer
fol-Am, das de estria
Am. Home Ixodes An Binch. de dry.
Buyers Bellers America Metal ....
LIVERPOOL
Cotton future closings, pence per b. were us follows:
American Contract July/Aug: 24.29; Oct/Nov; 25.60;'ANË,
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