1958-08-29 — Page 9

China Mail 德臣西報中國郵報 All

A THE CHINA MAIL, FRIDAY, AUGUST 29, 1958,

CONDITIONS WAIT-AND-SEE POLICY

DULL

IN LONDON

London, Aug. 28. Generally dull conditions stock developed

tharkels today and there was n further contraction In the value of business.

Selling whe quite strall 1 the recent strong buying which brought last week's upsurge in prices appeared to have almost completely dried up.

Centred

Interest continued to be con- trinrgely on hire purchase france, banking and stores shares all of which lost grOWNI an expectations that compet- tion for

credit business will intensify further.

Gill-edged beld

well

CONRUNET

despite the pruelly of business and the failure of the wolve millions & per cent Kent istur.

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

Business done on the Hong- Joong

ปปง Exchange

Stock

mately $324,000. Noon quola- tions and the morning's trans- ections were:

Prices Well Maintained On Market

By A SPECIAL CORRESPONDENT

morning atmounted to approxi- As movement on the market was more or loss governed by political factors this week, there was little activity on the Hongkong Stock Exchange as buyors adopted a "wait-and-sco” attitude. Although there was little business, prices were fairly well maintained with fractional gains or losses either way.

IX Bank. 750 700

Ahares Buyers Rellern

Sales

BANKS

you st

7436

405

630

..... מיינונן

INSURANCES

SHIPPING

Wheelnek.

DOCKS, ETC.

Lock...

Provident.

(0)

LAND, ETC.

JIK Hotel 20 TU 0

Foreign bonds and ralts - Taut

tructed little attention,,

Dollar Morks were mikend.

Accentuated

Industrials defied

Emall

lower all

} selling areentientizi

from the $15- dustry of further redundancies and a possibility of deteriora, Hon in tobour relations falowion the rejection of the engineering employers' wage offer,

the latest réporis

No dreftled

trend developed

oil stures which erd Irregular.

Rubbers and teas were quiet, Guld shares opened easier and einsed with numerous falls.

Copper shares reflected lower metal prices and other bage melals were neglected, --Reuter.

Dividend

The Hague, Aug. 28. Roval Dutch Petroleum the Shell Transport and Trad- The Company, Limited 1- Trunce that the net income of the

Royal Dutch/Shell group oil companies in which their Interests are 60 per cent and 30 per cent respectively) for the second quarter of 1958 amounted to £30.445.000 cum- pared with £58.770.000 for the same period of 1057.

For the first six months of 1958 net Income was £75,134.- 000 compared with £110,518,- 800 for the first six months of 1957. China Mail Special.

Realty

AUBDER

200

The only stock to make sub- stantin headway during the

latter part of the week was 1K Electre, which reacted very

the 20.00 favourably to

Company's 20.39 | unnouncement of a new issue of 32 one for five at par ($10) and an interim of 80 cents (unchanged from last year) Their divklend announcement carried a rider t the Fitect bnt 0121 overall dividend of $1,00-the same, as be expected. last year could The stock rose 60 cents for the week.

800 K

11.70

G4 11

3222

$00. 1000 100

175 1.42

Amalg

1.605 156

A Tawah

2.10

1.00

Tento

Yaumati

ન

230 20.70 1500 by 23.70

C. Light

10).

17.10 17.30

100 A1

LH|

27.80

241

1800 v

1400

SELO

300 Ar

30.30

Sungai

UTILITIES

Flexter

Macon E

es a

24.10 23 40

100 st 17.30

ני לא

Lands lacked on 25 cents this week closing at $32.25, while

Hotels dropped 10 cents.

KANALŠA

Teleplieno INDESTRIALS

Cemil Any

བཀག ་

CITY LIGHTS

Dalry

17.30 17,30

[7.20 407 1 11.3 25+0 17.30

33 16 13.40

340

Walon ....

COTTONS

Textes Nanyang

INVESTMETS Youngste

Ailled

6.00 7.10

6.60

$75

5 10

5.00

General Imports

Washington, Aug. 28. The Comunierce Departament

estimated today that U.S. Konerad Imports

June in Totalled $1,011.600,005,

"Money's getting easier—

they've just raised overdraft to half

militon"

his

༣་ ཕ Yaumatis were soft, falling $1.50 before they closed at $94,50.

Far

HK Bar Lombard

Dnion Wheelock, HK Wharf

Mucunt...Bund QuotationS

The following ate quotations of Mutual Funds in the United States In American dollars. The buyers' quotations include 'com- mission:

Canada Gen Fu Canadien ka

★ The Share Market At A Glance ★

Up or

July 31

Aug.

Aur. 14 Aug. 21

Aur. 28

Down

770

7056

770

765

7108

steady

260

280

286

281

steady

2314

1434)

740

74348

-$1

Kiutual Fun

KeLicen Buyers

0.05

ទ

5.00

5.000

steady

Affiliated Fund

GAB

701

101

1018

100%

10011

steady

As Shra

4.01

432

AR Sinet

313

1.07

HK Docks

424b

4234

42b

124

4931

steady

Boston Fund

15.90 17.20

Providen

11.00b

11.80

11.05

-166

Halloe Futu

12:41

1380

13.51

14.30

HK Hotels

21.00mm

21.50

21.10

20.00

20.80

100

17.0

13.30

HK Landa

3214

314

3214

+zło

HK Really

1.40b

1.30%

1.40

Ateady

Cuts Ist Oth Chemical

4731

021

MAI

10.03

HK Trama

20%-

20148

20.10.

25.80

steady

Dividend, Sh

2,70

3.00

Dreyfus Fe

10 20

11.00

Star Ferry

113b

112b

110mxd

110n

3100

steady

Baton Dol

24/3

Yaumati

0414

0477

9414

-31.60

Eaton & Stock

21.10

2012

17.00

17.40

17.50

. 17.40

17.40

Electrics

97.50

27.20

27.40

+000

steady

Fidelity Fund

£3.95 15.32

IF Non

3.62

Four Mut Fund

1.00

0.12

IK Telephone

28.00

25.00

25.40

25.00

+200

Cam Stock

11.06

12.00

Hellton Fd C-

4.Z

4.72

G. I. Cement Dairy Farmi

22yb

22.80%

22.70%

22.20

22.105

--100

Int Fund

10.60

1714

17.40

17.30

17,30

17.30

steady

Inatt Growth

Inwill come

1.43

10.30

10.000

10.800

10.70b

steady

18.60b

24xd

13.80m

13.30

13.30m

steady

In Boston,

AKT

10.41

Reyalone Cum, D-1

24.00

7317

Са

4.55%

Of 4.55m

3.85

5.806

-50

Muas v Tr

11.00

12.01

Mom Crowth

4.05

+50

11.00

11.90

Not See drowth..

6.50

10,00

10.60%

9.80

9.800

steady

Scudder Stock ....

24.37

4:1

47%

3.800

743

0.90

0.95b

3.85 0.00b

3,80b

--10

Teley E Fd

11.04

1240

6.00

0.95b +Be

12.90

14.10

Ch Light

A. S. Watson Lane Crawford

Yangiaze

Affled

BK & FE Iny

Textile Corp

Nanyang

4.551 10.60m

Eastern Situation Affects Wall Street

New York, Aug. 28.

Stocks declined today on the uncertainties in the Far East.

Losses held to small propor- Į Calif. Packing Corp.

Bon-seldom

Upan more

poland volume declined,

The FermoSA

problem. I 19 sold, was more of an excuse than anything else to sell a few stocks in advance of the three- day Labour Day weekend heli~ day.

Cluett Peabody Colgate-Palmolive Co.

409%

Value Line Fa

Wellington

Plagued By Strikes

Detroit, Aug. 28.

A STRIKE at the Chrysler Da

Soto plant here has ended but five other walkouts ware plaguing all "Big Three" auto manufacturers.

At the Chrysler Corporation,

about 1,600 workers went back to work yesterday morning after the United Auto Workers' Union reached settlemant with the company on senior.

ity call-back dispute the pre- vious evening.

were down.

Members of UAW local 47 walk- od out at the Detroit forga plant yesterday morning in a wash-Üms dispute with about 1,200

men affected, according to the local.

In Newark, Delaware, the Ply- mouth assembly plant is down after boing, struck yesterday afternoon and In Detroit the Dodge

trusic plant struck yesterday morning, was closed.

atli

No negotiations have been scho- duled in any of theso disputes, Chrysler sald.

wore

atli picketing General Motors Corporation's Pontio Division In Pontiac, Michigan, the morning-Chine Mail Special.

4614 Pacific Gas & Elec....

Canadian Pacific

a Canepbell Soup Co.

4232

Pan American Airways

2012

Famous Pictures

Tho

Case J. 1) Co.

216

Parke Dash Co.

159

Cat. Tractor

Penny J. C. Co.

should plant, which ambling 1958 Chrysler and De Sotos soon, was closed last

Workers

Celattes Corp.

1036

Peon, Salt Co.

C.LT. Financial Corp.

5715

Philip Murri

work by the walkout.

But

throo

Chase Manhat. Dank

Procter & Gamble Co,

other Chrysler ́ planta,

Chrysler Matory

sburgh 'late Gloss

43TS

Publieker industrien

Put Oil

6214

Radko

Commonwealth Elec.

Columbian Carbon Co. Commercint Credit

Republic Keel

Heyncids Meinl

Sear. Hoebuck & Co.

Shell Out Cu......

Bal Reg. Paper

Binclair O

Solar Aircraft

South Puerto Rico Sugar

BAZE

Beuthern Co. (The)

105

Southern National Ga

Scuthern Rattwny (Com.)

Standard Brands

Ktandard Oil of Cai.

30%

Blundary 0)). of Ind.

The recession In prices hil nearly all sections-steels, oils, chemicals, motor, metals und Many speciis,

Numerous

Consolidated Edison Contents Oil of Del. Crown Zellerbach Cuban Amer. Bugar Diamond Atkeli

specials managed to show gains { Diamond Match Co. loo.

Or a total 1,102 issues traded. GPI were lower, 240 higher.

New York Sluch Exchange bond volume was $1,130,000.

New York Stock. Exchanga volume was 2,340,000 shares.

Asnericen Stockt

Douglas Atrerait

Dow Chemienka

Dupont de Neinours Eastern Airline

Fortman Kodak

El Paso National Cas Family Finance Corp Firestone Tyre & Rubber Ford Motor ....

General Dynamles General Electric General Fonds

General Motors Gen, Pub. Dtl. Exchangeten. Tyre & Rubber

Turnover, for the work was down to $1.80 million compared with $3.07 million last week.. Tally was Ave higher, 13 volume was 340,000 shares. changed and seven lower, com- pared with four higher, eight| Dow-Jones closing unchanged and 13 lower last werO;

That was about five per cent Jess than In May and about three per cent higher than im- port: in June, 1957, the Depart-week, iment said.---U,P.I.

Exchange. Rates

in the users was kone unuflistal exchan morbing at the following rates:-

Agreed Merchant Rates vs. dolar (per 51)

Swiss Francs Afaximum Sell-

dag 75; West German Deutsche- marks Maximum Selling 71.

Market Diary

Comm. future price index ..

30 Indiantilalo

20 Fall

15 utica

85 stocks

40 bonds

Monday:

Prices ruled alady. | T/O: $329,000. Quiet

conditions. Alden Inc. Acy.

Here is a market_diary of the week: Friday:

T/O: $349,000. Dull and feature.

Tuesday:

less. T/O: 3434,000. Wednesday: Remained at a low rbb. T/O: $238,000.

market This

5.00

kaseen pal (per 100 Sam Heal (per 100)

Sterling notes (per £11... Australian notes (per £1

1005

12.50

0.90

Thursday:

20.34

Singapore (Stratis).

1.00

Closing Prices

Allled Chetnieni

Allied Mills Inc.

Allis Chalmers

Am. Brake Shoe

American Airline

Am. Cable & Radio Corp. American Cyansımıd Co.

Prices remath Auer, & Foren. Power

T/O: A. Gas & retrie

stendy. $483,000.

COMMODITY PRICES

FORLIGN EXCHANGE

NEW YORK

Closing rates were:

Canch

England tollicial

30) cho 1

Austizia

New Zealandi

South Africa

Helg

B1azil

Indla

Pakising

LONDON

Closing rates were? New York

Montreal

Amsterdam Copenlungen

Frootkfurt

Milan...

Parin Zurich

4.03% 2.00

2.70 13/10

2.712

EEKK

22.7016

NOGB

101

2101

2.00 1/14-7.80 3/10 27198-2.717

10 5634-10.564% 10.3394-10.33% 1·4591-11.50

11374-1981% 1172 1/7-11823 122014-1920p

Othert unchanged.—U,P.I.

COTTON

NEW YORK

American Contract Oct Nov: 23.43% Dec/Jan: 23.70; Mar Apr 20.70; May/June: 23,75; July/Age: 23.40.

Mixed Contract

Oct/Nov:

24.15; Dec/Jan: 24.20: Mar/April 23.10; May/June: 24.20:

AutyzAug 23.49.

SAO PAULO

the

Prices all unquoled today. Zu the Unitat Sales average price of one-inch

10 a 14 designated.

cot-

spot

markets was 34.70 cents.

Total sales were 18,122 bales. -U.P.I.

RUBBER

NEW YORK

Ilox rubber, futures today closed unchanged to 15 points higher with sales of 33 Con- tracts.

Chasing prices:

Bept: 29. Nov: 28.75: Jan, 20.00% Mar 28.40 May: 20.30; July: 20. Scpt: 20.25.

SINGAPORE

The markot was slightly higher in sympathy with over- seas and ruled extremely quiet with volume mm),

Prices of cotton futures closed quiet conditions prevailed with

today as follows;

Sput

Dec

Atar.

May

July

Out

D40.

NEW ORLEANS

In the afternoon extremely apparent tondency in prices to move eliker way.

Futures:

Prices of cotton futures closed No. 1 pale crepe Today as follows:

Spot

Orl

Dee.

MIC

May

JULY

Dec.

General markets, elf boats, ports: Sep, Oct, and Nov. 293-31 Estaic erepe thin Sept. 2574, Del. 25:

Back Sept, YURI

SUGAR

New York, Aug. 28. World No. sugar futures closed today unchanged to four points higher with sales of 390 contracts.

Domestic No. 6 mpar futures closed unchanged with no sales reported.

Confract No. 4 (world) Sport 350 Oct: 3.51; Jan; 33 Mar: 3.45: May: 3.44; July: 348; Sent: 347: Det: 3.42: Spolecit per lb. to Cubal: 3.49; Open inter- ent: X contrecta

Contract No. 6 (domestic)

Nov: 5.6; Mar: 504; May: 5:00 July: 5.73; Sept: 5.73; Nov: 5.80; SIL -lcents per ib, elf NY, ex-duty): 5.03: Open interest: 148 contract U.PL

METALS

NEW YORK

Am. Bume Perl. Am Mach & Fury. American Metal ... American Smelting A. Sugar Het. .... American Tel & Tes American Tob "ਸ" Anaconda Copper Arnie Steel

Atlas Cons. Mining Blwin-Lim-

Baltimore & Ohio

Reneficia! Finafer Bendix Aviation Corp.

Benguet Cod. .... Hettichem Steel

Hoeing Airplane Norden Fe) Co.

Burroughs Add Machine

Gelly Oft

Glidden Co

Goodrich (E, F) Co.

Bill Harvest

Sogony Mobilmil

Staklard Oil of NJ,

41 Sleep Rock (Toronto Expe.)

Biering Drug Co.

Blukely Van Camp.

Studebaker-Packard Com

Sunshiro Ming

Swift & Co.

Texsa Co

Textron Inc.

Tide Water As, Oli

Tri-Cont. Warrants

2012

Union Pacino Railway

United Cas Corp

JL.A. Tui "B"

37.B. Gypsum

U.8. Line Co.

10. Rubber

averages

Goodyear Tyre

The Inc.........

Grimman Alterazi

2236

BUT '17

Gulf Oil.........

110

Twentieth Century Fox Fins

Heyden Newport Corp.

Union Carbide

132.54

Homentale sing Co.

Union Oil of Cal.

27,30

Ingersoll-Rand

1034

1721

Inland Steel Co...

152

į United Aircraft

03.16

Interchemical Corp

153.01

Int'l Business Machines

International Nickel

Int'l Tel & Tal

International Paper

John-Manvilk Co.

Kaiser Industry

41%

ZIPA

Lekhard Aircraft

Loews Incorp. ...

470 171.

Lone Star Cement Co. Lowenstein & Bang MeDermatt J. Ray

42%

100%

McDonnell Aircraft

CAM.

1621;

Katsan C. Power & Light

Kenn-cott Copper.....

Meyer Tob, Co

Stock Exge.)

Mesab: Tron Cup Binnesota Mining Minion Orvelopment Monsanto Chemical Co.

Montgomery Ward

Motorola Inc. ..... National Heust Co.

National Cash Reg. "A"

104 National Hairy Prod.

National Lead

12% National Steel Corp.

Norfolk & Veslem İty,

100%

New York Centra)

537

North Amer. Astation

144 | North-west Airlines (Com)

Ohh Mathieson

445 | Oils Flevator

71 | Owen-1ilinole Class

Oxtotel Paper Co.

4312

457.6. Emelting

121% U.D. Steel poleg NOU.B. Steel 7 P C. FF

Warner Bros.

71% Wedinghoure Air Brake

Westinghouse Electric

934

101

Wertem Unijon Tel, Ca. West V. Pulp & Paper 13% Woolworth

Barclays Joins

London. Aug. 29.

Barclays became the third of Britain's "big five" banks today to join il the battle for 103% Prkain'a Annual £500 million

033 hire purchase market.

102

713

337%

177

3714

They alhouneed the ?in- mediale Introduction of a new "personat luans" scheme similar to them already lawxhed 34 the Midland and the West-

minater-Reuler.

7341

931

West Germany's Boom

Is Nearing Its End

Bonn, Aug. 28.

West Germany's post-war economic boom seemed to be near-

ing its end despite less men being out of work than at any time in the past ten years.

Economists attributed the re-had outstripped demand, the; in the slump year 1032 when cord low unemployment level Bank sald.

Germany had over six million a small boom in building

unemployed. 'There was still a slight over- after a late start caused by a wet 'spring, and to increased increase in industrial pro seasonal ceariand for labour in duction, but both the Bank and the tourist trade. Aboul 350,000 the Economics Ministry men were out of work in July, that only a few industries were These in- in July last contributing to it. $4,000 less than 0.906 year and about 9,000 below land cluded the shipbuilding, auto mobile, electrical equipment, durable consumer goods and the buliding industries,

Prices of metal futures closed today in cents per lb, as follows:

LONDON

9.Jib yent's. Loweet level. 92011

15220

201

27.236

04.000

24.000

Coal Sales

With mines working at only 85 per cent of capacity, and short-time working beginning to affect the pay packets of the 180,000 miners, the Government

İran abandoned its hands-o!! polley in the fuel industry and called a conference of cout and oil producers la Bon

Agreement

At the end of July only Experts regarded the crisis in 21,500 building workers were with coal sales and the fall in ricel out of work, compared

The

Totor falls seemed likely to production as more reliable in about 80,000 a trear ago.

housing heringe tentinued, anti Prices of metals, cloved today dications of the true economic building has been boosted by a produce obventual agreement In sterling per long ten as position of which the Federal follows:

Barkt, drew a gloomy picture in considerable fall in credit rates on a limitation of expantion In

*** in the

Industry which baat year, making it the fuel oil Buyers Sellers Intext report. The Bank warn carier to got necessary capital. would malce government

Lend Aug.

Sept.

inc

Aur.

55.13

50.00

33.06

No. 1 rubber per lb. Sept, 816-0022

Oct. 01-02 No. 2 rubber per ib. Bapt. 0015-81 No. 3 No. 1 Spot rubber unbaled ... Blanket crepe.......

Bep

Copper Aug.

Sept

ΤΙΠ AUR

212-721

DO DI

Sept.

30.10

23.11

35.08

38.37

54.17

No. 1 rubber has moi ja 2992-01 Settlemens house term:

LONDON The rubber market was steady with spot quoted at 23% pence per lb. Prices:

Dot,

24-1432

Tin

Copper spot

-monit

3-month

7300 15184 131

201

Line and half

Zine 2nd

LIVERPOOL

Cation future closings, In ponce per lb. were as follows:

Nov. Theo Oct/Dea. JAN/MAT. Aptu/June

and balt Nov,

et industrializis that the export

measures unnecessary. But the boom with over, and that prom The largest single economic olimen were though certain to peets of further industrial ex- problem renaland the cool in- bring up the question of mar- 11spension did not look good. Industry. Pit-head coal sibeksi ginal Rühr pits, whose UD Sdustry's growth in the ten at have, how grown to 9,599,999 | #contente rinning lept coal

year since

refort tons more unsold coal even than prices up.-China Mäll Special.

Currency

PO B·IE.A

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N, CO,

Ontwarde

"CONFU" "KIYDER" "KARMALA” "SOMALI" "CARTHAGE" "BALSETTE”

"SUNDA"

"CANTON"

HomeWardı

"CORFU "SURAT" * "CARTHAGE" "SOMALI” “ "GALSETTE" "CANTON"

Leaves London Due Hongkong

Balled 26/1

Ballad ná/ Balled 15/?

oth Augurt

Kai Augurt

Band August

In Port

30th August

2nd September

19th September sind September

10th October

Eh Saptamber

Ruth Dctober

17th September 20th Pctober

Leaves Hongking Due London

29th Septembar 19th Augu 17th September 23rd October

20th September 27th Dctober 10th October 23th November 22nd October 17th December 20th November

24th October

Via S'pore, Tenang, Colombo, Bombay, Admn & Pt. Bald.

* "BURAT" and "SOMALI" call 6'pore, P. 'wet. Penang, Aden, 1. Sald, Havre, London, Hamburg,

Rotterdam & Antwerp.

BRITISH INDIA S.N CO., LTD. "BANTHIA" duo 31st Sept

"OLINDA"

Kalle Art

due 12th Sept. Kalla 13th Sept.

"SANGOLA" due 12th Sept.

13th Sept.

from Japan.

for Singapore, Pertang, Itangoon & Calcutta

from Japan

for Singapore Penab Rangoon, Calcutta Chitingong

from Calaria, Itangoon, Penang & Bingapore tor Japan

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

31st Aug. from Bombay, Bhavpa-

"OBRA"

dua

sall at Sept.

"OZARDA"

duo 10th Sept. Balls 11th Sept.-

gar, Karachi,

Kandle,

Lochin, Tullcorin

Singapore

for Japan

from Japen

for Singapore,. Cochin, Kuwait, Bah. Khor- razstube že Karachi

EASTERN & AUSTRALIAN S.S. CO., LTD. "ARAFURA" in Port

"NELLORE"

salle 29th Aug.

que lith Sept.

Balls 13th Sept,

from Australia the Japan

from Australia for Joga

All vowels have liberty to call at any poria, ofi or of the roule & the route ✯ sellingu kis eubject to change or amendment with or without notice.

For full porficulous apply to MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephoon Nos: 27721-4.

1958-08-29 — Page 9

Comments

Private Research Note