1958-08-15 — Page 9

THE CHINA MAIL,

FRIDAY, AUGUST 15, 1958.

Better Sentiment On Market

HONGKONG STOCK EXCHANGE

Our Own Correspondent

Business done on the long-

kong

Stock Exchange

Unix

To Come Out

HK Bank

Mutual Fund

Quotations

The following are quotations of Mutual Funds on the Ameri- can and New York markets in American dollars;

Boston Find Bullock F

Canada Gen Fa Gandian F4 Cdn Int. Growl Chemien F

6.14

Page

Further Progress In London

London, Aug. 14. Prices made further

pro-

gress today and closed on a generally firm note,

There was a good turnover in 500 gilt-edged and prices steadily advanced but there was some reaction at the close, War Loan was finally below the best at 00-9/16.

Still Buyers

Reluctant

★ The Share Market At A Glance ★

Up or

Mutual Funds

Buyers Belaru

July 17

78744

July 24

78244xd

July 31 * ANK. 7

770

AUE. 14

Down

Affiliated Fundr

Tia 701

755b

270

+$5

Am Business Sh

Axe Bought A

027

Lombard

29%

220

Tan

.

28b

28b

steady

10.43

Union

7534

7234

· 7435=

-500

Wheelock

Gb

ab

0.05

J2.67 13.09 14.2

4.35

17,30 13.30

0

50

IK What?

102.

1000

1011

101

1011

steady

18.03

19.53

17.45

JK Docks Provident

4tb

424b

$234

b

12

11.90

11.00b

12

11,80

-250

200

Divitead Sa

17.70

2.78

19.40

Dreyfus Fo

10.20

11.00

HK Hotels

22.

22

21.00

21.60

21.43

-100

Fatus 11 Bi

2237

23,00

UK Landa

32

32.

3214

31%

32

++250

at Suck

21.10

22.03

kitty Fu

14.04

IK Really

6.GBb

0.375bxa

1.40b

1.50s

1.40

www.100

51 Pin

2.04

.15.10 5,00

IIK Trams

26

20

2014

2014

20.10

-490

Fouad Mut F

0.11

9.34

Star Ferry

113

1136

112b

110xd

+$200

Com Stock

$1.05

1109

Ham F HC-7

4.33

4,93

Yaumalls

93

95%

0414

946

inet

Fund

10.72

17.00

1734

17.00

17.40

17.50

+100

Inst Growth

$0.10

10,94

8.20

0,78

27.00

27.0

27.50

27.20

27,40

+200

Invest Tr Boston

9.07

10.90

254

25.80

25.00

2548

25.00

+100

Ktylene Cui, B-1

25.01

20.11

23.200

22.70m

2244b

22.80%

22.70s

-100

Mas Inv TË

11,70 13.09

Man Growth

11.00 11.90

17.30

17.20

1734

17.40*

17.30

-100

Not Red Growth

0.20

11

10.900

10.00

Go

珈

Allied

4.5750

4.5259

10.80b

in 4.45m

10.300

---500

Stock

24.57

2457

Telov E FO

11.01

12.65

Ga

steady

De Line Fu

6.24

0.31

*4.55n

steady

Welllagten Fd

11.00

IK & FE Inv

10.600

10,600

10.000

10.001

steady

Textile Corp

*4.0252

4-

3.800

200

Nanyang

7.70%

7,700

734#

6,00

0.053

'

By A SPECIAL CORRESPONDENT ·

morning mounted to approxi-Sentiment showed slight improvement on

mately $804,006, Noon quotations

and the morning's

transactions

SC Buyer Sellers Bales

were!

BANKS

JK Bank. 12! 700

FAR AND

INSURANCIR

Union...

Lumbard

SHIPPING

Wheelock

A. Whart

buck

Provident. *

LAND, ETC.

BK Hotel

21.

725

the Hongkong Stock Exchange this week when it closed yesterday with its highest daily turnover in two weeks.

Buyers were si reluctant to come out onto the market and as a result the majority of stocks experienced very little movement during the week.

1 was only yesterday that the market began to look up, push- 11.8 ing up utilities fraction.

2000

73 74

495

DOCKS, ETL,

005 2004 Wal

Jol

42

11.70 12 3000 21.30 21.70

****

12 150

13575 500 4

305

300 95.30

112

SCA DE CO

$10 2000

300 14. 1000

lampstoreye RUBBER

Awbly

Trunt.....

A. Tawan

Hungala

Trai

Star Ferry,

: ע*

Yatimat

C. Light

Elestue

24.0

$75 15.70

10 0003

3

Trains unchanged Interim of 40 cents did not seem to be well Freceived on the market as the share started to fall slowly, 1.55 touching

$20 yesterday before Some people

elug at $26.10. [ had expected a bonus issue.

Better Enquiry

Hanks

gained the $5 they 17.00 ust Jast week with better

enquiry. They closed at $770, 21.70 Landa tucked un 25 cents this

27.7

27.03

150

500 2.80 week to close at $32, while

2itales had a loss of 10 cents.

After being quoted ex-dividend yesterday, Star Ferries were still 29.10 p $1.50 on a middle quote of 25.70 23.00 $110

You w

Made

0147

Telephones

25 0.25 00

JAN

250

252

1000

200 v 25.00

1000 25.70

INDUSTRIALS

cement...

Amry Can STORES, ETC.

Dairy

37.75

1740 17:00

100 7 17.40 17.50 1000 10.30 41.10 2000 1

[CITY&LIGHTS:

500 er

Watson

COTTONS

Nanyang

4.05

INVESTMENTS

Yangt

3.

0

Allied

1000 44

434

CHEVROLET CLOSING FOR CHANGEOVER

- Detroit, Aug. 14.

Chevrolet Division of Geno-

ral Motors Corporation will complete its 1958 model

this weekend and will closa

praduction

"Guta up-Industrials up

6 up and you slump to

bottom again!"

London Express Barcier

Watsons had a band drop of 50 cents on a buyer's quote this down its assembly plants werk, while Dairy Farms weat

down 10 cents.

Tally

for four weeks, bòginning i Turnover for Ue week was August 15 for inventory $2.04 mfition compared with and model changeover, is $1.87 million last week. was announced here. Chevrolet output. so far this year was estimated at 80,000 eurs ang! 180,000 forries against 900.000 cars and 230,000 Lorcles in the like 1957 period,

Fisher body plaut Kt Kansas City, Missiour, will be closed down for two weeks, re-opening on September 2-China Mail Special,

was eight higher, five unchanged and 11 lower compared with ve higher, eight unchanged and 11 lewer last werk.

TRAMWAYS

HONGKONG aunounced an unchanged interim

of 60 cents.

HONGKONG

LANDS

Here is an lee House Street observer's account of the

market:

With buyers continuing to adopt р cautious allitude, business on the Block Market has been on a light scale withi the overal turnover amount- ing to approximately $2.81 inillion.

However, prices generally remained quite slendy through- Dat with sentiment showing signs of alight improvement ua the closing day, resulting in better caguley and a hardening of prires mostly in the utility section with

Telephones,

Electries and China Lights re- gistering small gatos.

Hongkong Banka were readil-

ly absorbed at $765 In early

Ch Light

Electrics

KK Telephone

G. 1. Cement

Dairy Farm

A. S. Watson

yonetize

111b

4.559

40

10.602

+5

Low-Priced Issues Lead Climb Upwards

New York, Aug. 14.

dealings and closet firm with Low-priced issues provided the spark today that sent the stock

buyers at 5770.

Hongkong Lands were activa and steady around $32, while Hotels recovered ground lost early in the week.

Elsewhere there was Nitre of nole to report with the market on the dull side

Market Diary

Here is a market dury of the week;

Friday:

Signs of slight im- provement.

T/O:

$470,000

Monday:

Quiet day,

T/O:

$280,000,

Tuesday: No material change.

T/O: $480,000, Wednesday: Trading on a slight scale. T/O: $503.- 080.

Thursday:

market higher for the second straight session.

was moderate.

Chemicals as a group fentured on the upside. Du Pont ran up areaund five points at its high. U.S. Doras, murker of explic fuels for missiles final rockets, Just more than a point ou poor warming.

Most major groups favoured price upside, although The

small changes were

fot the most part and there was some irregularity B most group.

of the Union O featured its group, rising more than two al its high on a late spurt, It back

down bit at the close, Polaroid

was strong in the

Westinghouse cuterus andi showed

the cicetrical <quipments. sight improvement.

American Motore 1050 more T/O: $882,000.

than 1.

Sentiment.

RELEASED

CREDIT

Paris, Aug. 14. The Journal Oncial today BC-

vised Importers that credits had been released for the import of essential goods under the ha- port programme for the second kalf of this year.

Imports will be made under (global quetas for each of three

(1) The dollar ares. (2) The EPU and transferable frane area and

(3) The dollar,

Dounced an unchanged interimtransferable area-China Mail of $1.20.

COMMODITY

FOREIGN EXCHANGE

LONDON

Closing rates were:

New York

Montreal

Amsterdam

Drusecis

Copenhagen

Frankfurt

Qelo

Parlo

BlockhoLT

Vienna

Zurich

3.20-3/16-2003

10.30%-100%

10-333-10 33 11.00-12.0036 10.00-20.00 117216-11731 14 431-14.423

13.33-72,30 12204-12.200

at 14 designated spot markets was not available,

Total sales were 8,488 bales... U.P.1.

RUBBER

NEW YORK

Rex rubber futures closed 5 to 40 points higher with Enks of 27 contracts.

Special,

total 1,172 issues traded, Of a 526 were higher, 371 lower,

New

Exelunge York Stock volume was $3,370,000 shares.

New York Stock Exchange bond volume was $4,710,000.

American Stock Exchange volume was 870,000 shares.

Dow Jones closing averages were:

Industrial 20 ralla Is ties Ba stocks

10 bonds...

Comm. future price index

Allied Chemiçais

Allis Chalmera

A. Brake Shoe

American

American

Radio Corp.

Co.

Amertean Cyanan Лег. Forgn. Pover Am. Gan & Electric

Aircraft tam. McDonneli

Block Expe.) ......... Mesabi Iron Corp. Minnesota Mining Madon Development Momato Chemical Co. Montgomery Ward Maturola Inc. National Blocuft_Co. National Cash Reg. National Dairy Prod.

National Lead ........... National Steel Corp. New York Central ..... Norfolk & Western Ry. North Amer. Aviation North-west Afilies Olin Mathieson Os Elevators_••• Owen-lilinols Glas Oxford Paper Co. Paelle Cas & Elec. Pan American Airways

Paramount Picture

Parke Davis Co Penny J.C. Ca. Pili Morri

Procter Camble Co. Pittburgh Plate Glas Publicker Industrica Pure O................ Radio Corporatioa Radio Cary. Pref. Iepublic Steet.. Steynolds Metal Sears, Rubuck & Co.

Shell Ou Co. .... Saat leg. Peper

$261

012

101

Volume

NEW YORK

COTTON MARKET

New York, Aug. 14. New crop cotton futures continued to seesaw today followed

NB

traders

Washington developments of farm legislation. House-approval...of a Com- promise bil brought a wave of covering. bu! other traders were cautious pending further Senate action on the measure 33% and a detailed study of the 314 text of any bli ultimately ap-

proved,

71%

CLOSING PRICES Closing prices were around $1.30 a bale above the opening lows with the generat list finish- ed off two to up 12 points. The market opened live to 23 points.

New Orleans closed

up 12 Points

Traders were uncertain as lo how the loan for Uie 1958 crop might be established If the rale is based on midding Inch 714 would make for a lower rate 13 than if based on 4-inch cotton, some technicians thought.

Instit income

034

14017

New Kind Of Rubber Discovered

New York, Aug. 14. Two officials of General Electric announced today the discovery of a now kind of rubbor.

They said the rubber com- bines all restalonce with the ability to maintain strength and usefulness at temperatures range. ing from 100 degrees below zero

Japanes were firm in a quiet foreiga banda markel Dollar slocks reflected the overnight rally on Wall Street.

INDUSTRIALS

Industrial equities

had

nhalber good day, Engineering and electricpi equipment shares were favoured and made good {boadway and leading motors

were supported.

De Havillands were in renew- ed demand amongst aircrafis and Bowners were A strong feature in papershares,

Gold shares had isolated Arm features.

The Kamry market was generally cheered by the news that permission had been Alven for Anglo-South Airlean Investment to ralse $30,000,000

in the U.S.

Coppers were quietly steady. Olis had an uneventful day but were horder where changed, -U.F.I.

Discount Rate

Washington, Aug. 14. The US Federal Reserve

Fahrenheit to the 500 plus de Board today raised the discount

grers required by jet planes.

The new product, known as

antre

silicone rubber,

Wa

rale at the San Francisco Re

serve Bunk from 1 to 2 per the anu-

described a major advance cent, thus reversing

caster,-

la chemistry that will offer in-recession policy of lowering the dustry-particularly the auto-tale, to make money motive and aircraft industries Reuter. unique combination of import-

available in a single material," --U.P.I.

ant properties never before

*

Agreed Merchant Rates

Went German Deutschemarks Maximum Selling 71%.

P.O B∙IE.A

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL 5.N. CO.,

Outwarde

"BURAT'

KHYBERTM

"CORFU"

Leaves London Salled 7/2 Salad Bi Belled 24/7 Jailed 10/7

0th August "CARTHAGE" - 21st August "SALSETTE

thod August

""KARMALA"

"SOMALF

"SUNDA" "CANTON"

Hotnewards "SOUDAN" * *CORFU* "BURAT” I "CARTHAGE"

"SOMALI"

"BALSETTE” "CANTON"

8th September

17th September

Das Hongkang

18th August 25th August

19th Aug.

4th September 19th September

22nd September 10th October

20th October

29th October

Leaves Hongkong pur London

20th August 29th August 17th September 10th September 18th October

22nd October

24th October

Sinclair O11 .....

013

Soeung Mobiil

401

Solar Akceraft .......

101

South Puerto Rico Sugar

Southern Co. (The)..

$10.30

173.28 Stander? Où of Ca

Southern National Ga 132.00 Southern Railway (Com)

19 20 Standard Branda

30%

61T

B.

Standard Oll of Ind.

153.77

Standard Oil of NI

Steep Rock (Toronto ExE

Closing Prices

Sterling Drug Co

Stokely Van Comp

Studebaker-Packard Corp.

EPU and

Alden Ine. Acy.

1911

Bunshine Mining

751

Swift & Co

Allied Milla ine.

31

Texas Co.

27

Textron Ine

Tide Water Asan. Oli

Tri-Cont. Warenats

Twentieth Century Fox Flim

17:

Union Carbide ...

1091⁄2

Union O of Cal

10744

Union Pacifle Hallway

30

United Aircraft.

249

United Gas Com

43

US. Fall "B"

344

US. Gynsnum

43

1:14

US. Line Co.

205

871

U.S. Rubber

2011

525%

U.S. Smeking

33

US. Steel

714

10/2

U.S. Steel 7 PC. PE.

1404

CROP SURVEY

10

Warner Kno

2091

บ

13hy | Westinghouse Aiz Brake 191

201

Westinghouse Electric

013

23%

Western Union Tel. Ca.

West Va. Pulp & Paper

435

Woolworth

A crop survey by Memphis spot interests noted weather Cenerally has favoured growing conditions and insect control. Cotton is blooming freely. In

and misarly every section substantial rovement In frull- ing was noted in the central section,

About 75 per cent of the crop is now open in south Taxus and about 60 per cent harvested in the Rio Grande

*

"OLINDA"

14 Port

A

"BANTELIA"

*

*

PRICES

points higher with contracts.

sales of 902

A. Home Prod. A. Mich. Fury. American Metal Asmeti Smelling Am. Sugar Bet. American Tel & Tel American Tou. "" Anaconus Copper Annoo Sleet.............. Aujour

Domestic No. 6 sugar futures closed one point to two points ( Atlas Cons, Mining

higher with sales of 490 con- tracts.

Jan

Mar.

| Baldwin-Lima-Hau.

Baltimore & Ohio

Bendix Aviation Corp.

Campbell Soup Co.

| Benedicul Pinkco

Contract No. 4 (world)

Benguet Cona

Sept.

341

Bellehem Steel

04.

14

Boeing Airplane

3,00

Horden he) Co.

1.43

Burrougia Add Machine

May

DAD

Calif. Packing Corp.

today

July Sept. Oct Spot-cents per ih, tab Cuba) Open interest: 0,43) contracts.

3.42

Canadian Pacific I

Caso (J. I.) Co.

344

Cal Tractor

Catanese Corp

Closing prices:

Contract No. 8 (domestic)

Chore Manat. Bank

Sept.

4.70

20.25; July: 20.;

Nov.

5.20

Mar

May

SINGAPORE

July

6.00 5.79

The market opened lower in

with sympathy ruled quiet with minor fluctus-

tions.

Sept.

6.73

overseas

and

Spot-(centa

per bit NY ex-duty) Open interest: 1,543 contracts.

1.72

-UP.I.

Sept: 20.00: Nov: 38.50: Jan: 20.35; Mar: 20.25; May:

Sept: 29. www Others unchased.

New York foreign exchange rates were unavailable today-U.P.I.

COTTON

NEW YORK

Fatures were:

No. 1 rubber per lb. Aug. 814-0111 Sept. 81-B135

No.

TOO.

3

No.

rubber per lb. Aug. 703-0012

Spot rubber unbaled. Prices of cotton futures closed Bike Crepe

No. I pale crepe

LONDON

today as follows:

Spot: 34.40; Oct: $5.00: Dec: 55.08: Mar: 30,20: May: 30.28; July: 31.30; Del 33.75-70; Lee: 33.03.

NEW ORLEANS

Prices of cotton futures closed

today as follows:

Spot: 33.10; Det: 35.68; Dac: 35.90; Mar: 30.24: May: 06.21: July: 3.10 Oct: 3.70: Doc? 37 LB,

LIVERPOOL

-Golton. future

75-7611 019-0135

02.04

09-01

The rubber market was quiet

METALS

NEW YORK

Prices of mefal futures closed

Ford Motor.....

General Dynamics

The old crop months held steady since spot prices in the south are under the loan Tevels.

Favourable crop

news, cloth statiscal market dullness and data remained in the back- ground as markét Influences while traders concentrated on Washington developments.

*

*

Zith September

29th September 23rd October Fath

October 24th November 17th December

24th November

vis d'pare, Penang, Colombo, Bombay, Adeo & PL. Skid.

"BOUDAN", BURAT" and "BOMALI" call S'pore, F. S'et, Penang, Aden, P. sasq, llåvre, London, Hamburg. Rotterdum & Aniwory,

BRITISH INDIA S.N. CO., LTD.

salle 18th Aug.

dae Siat Aur. allt Sept.

Front- Calegita,

Chalisa- gong. Chalia, Bangoan A Hingapore

for Shanghai & Japan

from Japan

for Singapore, Penang. Rangoon Calcutta

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

fram Japan

for Singapore. Penang, Madras,

Bombay, Bhavnagar, Karson & Kandia

from Bombay, Bhavna- gar, Karachi, Kandia, Cochin, Tuticorin Singapore for Japan

"UBLANA"

due 18th Aug- galls 19th Aug.

New

*

"ODERA"

due 24th AuE.

*

.

Balls 25th Aug.

!

C. 1. T. Flaancial Curu.

Chrynler Motors

Cluett Peabody ...

Brz | Colgate-Palmolive Co.

Combine Carbon Co. Cumnorcial Crodit Cinamonwealth Elec. Consolidated Edison Continental Oil ut Del. Crown Zellerunch Cuban Amer. Sugar Diamond Alkaj! Diamond Match Co.

Douglas Alrer aft Dow Chemicals Dupont de Nemours Fatem Airline......

Eman Kodak

CHICAGO GRAIN MARKET

Chicago, Aug. 14. Wheat closed up % to off

cent; soybeans closed un-| changed to up 1⁄2 cent.

Wheat No. 2, red

Sept. 104(13) 103)/(1) 183]6-184 Dec,

Valley.

The Liverpool market closed 12 lower to 20 Engilsh points higher and,674 to to 790 Americaß points under York futures.---U.P.I.

NEW STOCK

ISSUE IN U.S.

Washington, Aug. 14. Securities & Exchange Commission sald today it has

authorised American South African Investment Co. Lid of the Union of South Africa to float a $30 million 'stock issue in the United States.

Organized in Jung, the com- pany's stated purpose is to operate as a closed-in diversified management Investment pany, investing mainly in South African Gold Mining and similar securities.-U.P.I.

com-

Exchange Rates

Business was done in the locat nometal exchange market this moning at stue following

tes

1.3. dollar (per, 41) morting mate({per (A1). Austinilan tiqtas (dør 1) Indonesian rupiah (po 100) Ram tival (per, 300) Kiinanporn. (štruita)

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

"ARAFURA” due 28th Aug. from Australia

Hi 26th Aug. for Japan

"NELLORE** due lith Eept. from Austraila

salis 19th Sept. for Japan

..

All vetiels' Dave Liberty to call at any porta -om or of the route" à thé ruta à sailings gev sudjuk to change or amendinant with or without poties.

for full particulars apply to:

MACKINNON, MACKENZIE & CO.

OF HONG KONG LTD. Telephone No:: 27721-4.

with spot quoted at 23% pence today in cents per lb. as follows:

per lb. Prices:

No. 1, pest..

30715

Spot

141

19016-

El Paso Neliorini Gas Family Finance Corp. Firestone Tyre & Rubber

Mar.

1041

"

May

10536

OBL

July

19316

The

43 Corn, No. 2, yellow

General Foods

General Electric..

Spot

Bept

10.04

1975-2015 12732-35 1161-117

10, sib.

Gen Pub: tru

Doc

AND. Tyre & Rubber

1373

8.cob

Delly Ou

8,DOU

Dec. New

Glidden Co.

20.116

Mar

Goodrich (B.F.) Co..

21.232

MAY

11772-130 123

·123-16

Goodyear Tyre"

03.50L

July

93.7

Grumman Alzgraf

Guit

Пуф

Rept

12345

102

Doc.

Oats

1

Bept,

Dec

004-1

Soybeans, No. 2. Yellow

10614

Spot

Supt.

Brot

3-month Copper

John-Manvit Co.

Now,

Kaises Inchustry.

Spot

2003 20

Kanser & Power & Light

આ

Mot

3-meath

Konnicate Copper

May

Lead 1st Male

Jul

Au

Barley,

Brot

122-1571

New York Ber

200 lb. sack

* Selllement house termi

|

Sept.

Gelbes.

2344-2374Zine 2016-231 Copper Aug. 24-2035 Jan./Mar.

2414-2412 April/June

2442-2414 July/Sept.

2016-202 General markets, cit' haria, portart AUR. Sepl

late crepe this Aug. Out.

Eitate crepe Ulick Aug

Lend Aug. Sept Aut. Supt.

Tin

Sept. AUE

2170:

24.70,

closings, ite pepco per lb. were as follows:

American Contract Oct/Nov: 21,98: Dec/Jan: 14.10: Mar/Apr: 14.30; May/June: 25z July/Aug: 24.30.

Mixed Conteret

Oct/Nov: 24.6; Dec./Jan:

Met Apt 2470; May/June:

July/Aug: 29.10.

AS

SAO PAULO Cotton future closings in cruzeiros per kilo were follows:

Oct: 49.10; Dee: 4900; Mar: - quoted.

Irk the United States, the Average price of one-inch cotton

SUGAR

New York, Aug. '14. World No. 4 sugar futures closed today unchanged to two

Int'l

LONDON

Homzettice Mining Ingersoll-Rand Prices of metals closed today Inland Steel Co.

ir sterling per long ton as fol-chemical Corp., lows:

Tin

Machines

Buyer Bellota International Mickel

Internation Paper ......... 730 73014 | T613 TUE ROTEÍ.. 7201 720

Nov. Kine tot hall

Nov.

001

Ligent Myers' Tol. Lockheed Aircraft

MU, TIL Loews Incorp

Lone Star Cement Co. Lowenstein & Son..... Mas, Iny, Trust Co. McDermott J, May

40%2

29511⁄2 nom