1958-09-19 — Page 9

THE CHINA MAIL FRIDAY, SEPTEMBER 19, 1958.

London Tin BULLISH TREND ON MARKET

Market Suspended

London, Sept. 18. Dealings in the tin market

will

this be resumed afternoon and the closing prices will become the official prices of the day,

London Meini Earlier, the Exchange wat suspended in tin dealing, and it was announced that a settlement price would be announced later.

The Chairman of the Inter- national Tin Council dlxlosed that the buffer stock manager Lime had withdrawn for the

being is support of the cash price of tin at £750 ton.

George Peter, the ChairLLO

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

Business done on the Hong- kong Stock Exchange this

quotations and the morning's

Substantial Gains Push Prices Up

To

Pre-Crisis Levels

By A SPECIAL CORRESPONDENT The bullish trend on the market was more pronounced this week with buyers coming out into the open as the political situation in the Far East eased some- what.

the, rose to $26.50 yesterday, a gain The general feeling on market is that there is unlikely of 80 cents, while Telephones to be a shooting war and that which were quoted ex-rights some type of political settlement yesterday at $23.00 (equivalent muy end the strife in the Formasa to $20.40) rose 80 cents on the 73) Straits.

week.

morning

amounted

proximately

$340.000.

10 2p. Noon

transactions werő;

Bhares

Buyers Sellers

Sale

BANKS Tank INSURANCES Lombard .. Union

730 100

20

24/ 725

100 73 735

1130

Wheelock

3.00

11

РОСКИ, ЕГО

K. Wharf Dock

4

2:00 +4

100 m

14.40 15%

27.80 21.10 11

1000 1000 L 100 +

of the International Tin Council, | suIPPING Issued the following announce. ment today inunediately after London Melal Exchange Be cuspended all dealings in un

ANNOUNCEMENT

Provident

101

LAND, ETC. HK Hol

Ink Land - 3051

Really RUBIER

The announcemeet sald how- ever, "The Intruational Tinturones 14.26 Agreement will of course, con- thue in force," A Counelt] Analg. meeting wih be called to dis- euss the matter.

As

the a result, selling on

In the Stores section Dalries market has slowed down to n and Watson gained 40 and 80 43 trickle and with prospects of afcents respectively. Dairies are 11 market, a fow traders expected to declare an unchanged started the ball rolling, and as interim of 55 cents. the market began to rise more climbed on the band-wagon.

14,90

Majority

Tally for the week was 10 higher, six unchanged and three tower.

with compared

nine higher, ten unchanged and xix Turnover was lawer last week,

The majority of shares had gains on the week with a num-$3.04 million this wook.

up slightly from $2.59 million to

1.075 ber having substantial rises

Here is an Ice House Street;

put them bark near their pre-observer's account of the marked; Formosa crisis levels.

Trunk

.....

A. Towok Stagalo UTILITIES

1.35

1.023 1.670

155

2.173

1.10

1000) 19600

614 51 6000

1,05

1.M

10

CS 20.20

107 100

500

500 14

25.10 20.10

The only three shares to TU- isler louses were Yaumatis...

25.00 9.10 21.30 24

CITY LIGHTS

7:00 200

24

"As war winounced h July the Cotbeil has fixed the tola! permissible export nanount for the fourth

of control period October 11 to December 31st, Star Ferry

YALL.. 1958, at 20,000 foris as

C. Light

101 ..... 17,20 17.40 400 1 17.40 pired with 23,000 to for th

2000 tbld

period, Peter Electric centrul Enid.

Mac: E. There has been no change in Telephone this Hevision.

CO.-

"I got informed by the Uniled Kingdom goverment that no change is contemplated in the import licensing restrictions on Russian in and other arrange- ments announced by the Board of Trude, co long as the USSR does not make "an appropriate Imitation of its exports as a producing member of the Council of by voluntary action." -U.P.L.

FURTHER GAINS IN LONDON

INDUSTRIALS. Cement 2018" 22.90′′

STORES, ETC, Dairy

... 17.10 19 40 10.00 11,10

Watmus COTTONS

-

500 1

Textiles 8.3.18 1500

Mayang

INVESTMENTS

Allled 4026

17.30

www

(1)

Company To Aid Middle East

The Hague, Sept. 18. A Middle

East Industrial Development Organisation with Swica a capital of 2,000,000 Franes (about £103,000) has been launched with the backing

and of 120 European

en-

London, Sept. 18. American Arms, it wus Further widespread gainsnounced here today.

The name of the organisa. were recorded in stock markets today, under the tin is die Middle East Indus- lead of gilts and industrial Development Projects cor- trials.

Git further

poration Sociole Anonyme -- (* MIDEC.

Ismer A publication

today

"Broker are you? Chum, you couldn't be broker than mo!”

Although trading was generally on a moderate' scale, a steadier undertone prevailed throughout the

HK Bank

32

Mürual Find Quotations

The following are quotations of Mutual Funds in the United State, in Amertoun dollars. The buyers' quotations include com mission:

Mutual Funds Affiliated Fustă

Better Buyers

2.03

The Share Market At A Glance

Up or

Aug. 21

705

Ang. 28

705

Sept, 4

738

Sept. 11

Sept. 18

Down

745

755

+$10

Lombard

28b

28b

27340

23b

- 286

steady

Union

7434#

7816

73b

750

73b

+1

Wheelock

5.00

5.906

5,80

5.80

5.50

+100

HK Wharf

1001

100D

1000

100%

100%

aleady

Am Blue Share

4.00 454

Ax Block

3.74

4.09

HK Docks

4234

424

4214

BOY

4314

+15*

Boston Fund

142)

17.5.2

Provident

11.80

11.85m

11,20

1120

11.30

4.200

Bullock und

13.09

Canada Gro Fd

13.3

14.43

HK Hotels

20.90

20.80

20.20

20.30

21.10

+-800

Canadiz Fi

17.03

30.47

HK Lands

3214

314

503

+250

Can Int Growth

151

IIK Realty

1.40

1,40

1.35

1.35

1.375

+8340

Chemical F

Dividend Bh

2.01

HK Trama

25.80

25.80

25xds

24.90

26.20

+200

Dreyfus Fund

10.00

110A

liin

111

110

110%

steady

Eats & 11 Hal

21.90

Faimn. & 1 Stock

21.30

22.6

90

94%

943

0314

Fidellly Fund

14.10

15.34

17.40

17.40

17

17.20

17.30

+100

Talk Plan

361

3.00

27.40

28

27.00

21.70xa

25.50

+800

Found Mut Fd

0.64

Com flock

12.01

HK Telephone

25.40

25,00

25.20

23.00

23.00xr

+800

13.50

Hamu F

HC 7

4.45

4.83

G. I. Cement

22.20

28.10.

22.101

21.10

21.70

+000

Instit Found

9.93

10 20

Dairy Farm

17.20

17.30

18.00

17b

17.40

+-40c

Inelit Growth

10.01

11.11

Insit Insur

12.08

13.17

A. B. Watson

10.70b

10.703

10.50

10.00b

10.90b

300

10.03

10 v8

Latte Crawford

13.30

18.20m

£3.10

13b

13.10b

-+-100

24.19

25 20

Mass In

12.92

Inta Investment Allied

5.85

6.80b

5.15bxd

4

1,05

46

9.800x8 3.80%

9.8011

0.800

5.155 1 9.8um

6.10b

-5¢

1131

12.23

4b

steady

Nat In Mawr

7.02

Scudder Block

25.08

9.80n

steady

Telev E Fd

12.14

3.80b

3.70

8.05b

3.65D

steady

Value Le Fil

0.45

0.95b

7.053

0.85

-100

WeBagion

Ferry Star Yauran Ch Light Electrics

NIK & FE my Textile Corp Nanyang

6.000

04%

More Profit-Taking On

New York Market

past week resulting in Stocks encountered further profit-taking early today.

predominence

of useful

gains with HK Banks, Electrics, Telephones and Hotels showing up best.

Cements

also showed good improvement towards the close whilst Docks and Dairy Farms proved firm spots.

Rubbers were generally firmer.

Market Diary

Most losses were small- or

point in the leading groups -but a few stocks dropped a or more. Among these Du Pont, point wider declines were Firestone Tyre, Parke Davis, National Libbey-Owen-Ford, Stoel. Westinghouse Electric,

also

of

Am. Sugar Ref.

Americau Tel & Tel American Teb. "U" Anaconda Copper Armes Steel

Auk

Allng done. Mining Na-liam.

& Chlo

Benelldal Finance

Benguet Cuna..

Bethlehem Steel DK Airplane Barden The Co.

Ford Motor, however, stood Bendix Aviation Cap. out on the upside with a gain a point on the heels of its labour

settlement.

Other motors were Art. Schenely continued in demand with a rise

of over a point and Chance

Here is a Murket Diary of the Vought wes bid up sharply. week;

down $1 on enles; International Friday: Investment Corporation (Former-, ly Yangtze Fhanee) down Monday: tive cents on a buyer's quote; Nauyang Cotton-down 15 echts on sales.

Tuesday:

the Cills section, toth Banks and Unions had useful | Wednesday: gains of $10 and $1 respectively

section, Thursday: while in the Godown Ducts

to $43.25-thelr rost highest since July.

Cancellation

edged securities made

The reported cancellation uf headway and- closed said, "MIDEC's objective is to hotel bookings by tourists due to the unselled conditions in the

with numerous

Today's unchanged bank rate did not discourage the market as a reduction at this stage was not expected.

the inauguration of

Later in the day, the market closed with total of 1,202 Rules steady. T/D Isues traded out of which 386 $578,000.

vero higher and 500 tower. Slight unprovement,-

New York Stock Exchange T/O: $514,000

volume was 3,460,000 shares. Market makes

New York Slock Exchange furllier headway bond volume was $6.750,000. T/O: $785,000.

American Stock Rutled steady. T/O:

Exchange volume was 1,240,000 shares, $345,000.

Dow-Jones

Quiet conditions. T/O: $822,000.

Prospects

New York, Scpt, 15. Business prospects through-

and quarter

30 industriala

were:

20 rulls

Jew

Entocks,

40 bends..

11 US. Smelting 1063 US Steel

U.S. Steel* 60Waster Br

New York, Sept. 18.

34

70%

1434

23

54

10%

13

Westinghouse Air Brake B8Westinghouse Electric

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

2012

25%

AD

भा

U.P.I.

Burroughs Add Machline

Call 1moking Corp. Campbell Soup Co.

Canadian Pacifle 11. Cone (J. L.) Co.

Cat. Tractor

Celanese Corp,

C. I. T. Financial Corp. Chrysler Motors

Civell

Colette Cu.

(c) Credit

Carbon Co.

Cammenwealth Elee, Consolidated Edmon Continental Old of Del. Crown Zellerbach Cuban Aner. Suger Diamond Alkali Diamond Match Co. eloring averages Douglas Arerall

Comm. future price index

Closing Prices

Alden Inc. hey. Allled Chemleats Allied Mus ing. Allis Chalmers

gains of 1/16 | stimulate to 3/10 with short dated stocks new industrial and commercial Far East toes not seem to have out the nation for the frul Again active.

enterprises ลป the develop-uftected Peninsula Hotel

1958 of

and enrly ment of existing ones in Persia, Peninsula Courts, which are re-rext

усог were encourag Iraq, Jordan, Kuwait, Lebanon, ported to be full. As a result,

according to the AdvisuTY

Am. Brake filov... Saudi-Arabia, the Sudan and Hongkong Hotel shares climbed Board of the Instalment Credit American Akrilne -;- the United Arab Republic." - 80 cents during the week from Commission of the American Am. Cible de radio Corp Reuter.

their low of $20.30 to $21.10.

American Crenanild Co. Bankers' Association.

A. & Forgn. Power Signs of a moderate rise in Am. Gas & Electric Two Blue Chips had very good

Am. Home Prod. zains over the week. Hong-financing the sales of new and

Am. Mach. & F'dry. were viewed. kong

were used

American Metal quoted

week promising-China Mall Special. American Smelling

INDUSTRIALS

The industrial market closed very dri Indeed, with further

extensive gains recorded.

The main feature in mines was the sharp fall in fin shares,

with- following the drawal from the metal market of the Tin Counell's support..

Oll phares closed mostly Higher with Shell up 1/9 to 147/---UP.I.

Exchange Rates

Business Was dons unvictal *xchange markel

morning at the following inter U.S. dollar per $11 ......... Berling notes (per £11, ... Australes notes (per £5) Indonesian rupiah (per 100) Star Liels (per 100; Singapore Strafty;

More and more people take interest

919-19-31/12/1459

Lamburo-Banking, Limited

INVESTØR: £80

in

Incal this

SMI 100,00

5.00

1.00

LOMBARD BANKING

A Bank Deposit Account with Lombard Banking is accumulation without speculation. Your money grows, steadily and securely, without risk. That is why more and more people are opening Bank Deposit Accounts with Lombard Banking.

Taduroti páli okhout deduction of United Kingdom Luomu tak Send today for your copy of "Bank Deposit Arenant ** Booklet No. ADJE

from General Manager

LOMBARD BANKING

Cod Office

LIMITED BANKERS

PARK LANG, LONDON W.1

strzelated Bank 2.

LOMBARDI KADEWICZARKRAFT) AND MPZO, BON ZMY SEDONO PARRAM FIRAKTION HULL, MA FIRE QUAY SINGAPORE, TROMM: 12520"

A World-Wide Deskie ajd finante Oryantalisk

Electrica

cx-all

which

last

curs

COMMODITY

FOREIGN EXCHANGE

LONDON

LONDON

OS

The rubber market was quivi

with spot quoted at 24

per lb.

Prices:

No. I got

perico

245-2415

Settlement house terms:

241-2

Nav

Uch/Dec

341-249% 24-241

Jun./Mar

Closing rates were:

2.855-7/16-260-9/10 2.7311-2.74 10.00-10.00%

Stept.

Ort.

Nuv.

2435-2476 242-21. 244-1 2011

New York

Montrost Arusterdam Brusela Frankfurt Littste 2011am

PAYIN 31ockholm Vienna Zurict:

130.0755-139.125% 21.08-11.00

80.43-80.55 1730-1730)

117534-11751

·

14.47-24.4776 72.40-7241 70.2034-12.2017

Others unchanged. New York exchange unavailable.—U.P.1.

rates wera

RUBBER

NEW YORK

futures today Rex rubber closed off 20 to 10 points, with sules of 18 contructs,

Closing prices:

Sept: 20 Nov: 2023; Jan: 20.15% Mar: 2203; May: 20,00; July: 20,00; Dept: 28.90.

AMSTERDAM

*The rubber market

Was

General inarioeta, cui iasis, parla

Estate crepe 4hin Oợt,

thick Oct.

COTTON

NEW YORK

Prices of cotton futures closed today as follows:

Epot: 35.96; Oct; 35.54; 10: 36,02; Mar: 30.44: May: 3025; July: 31.25

Mor: 34: Oct: 32u: Dec: 32.02.

32.07

NEW ORLEANB Prices of cation rufuris closed today as follows:

PRICES

Dow Chemicals

542.34 Dupont de NemoʻLATW 130.60 Eastern Airline 80,03 Eastman Kodak

Paso National GoE $29.AL

BG.C. Family Finance Corp. 151.57 Firerione Tyre & Rubb

Ford Motor .....** General Dynamics

General Electric

General Foods

General Mctur

Gen. Tyre & Rubber

Getty Oil

Glidden Co.

Goodrich (3.F. Co.

$20!

892

Gen. Pub, Ul.

38

21

41

22

10

1074/

4432

METALS

LONDON

401

Goodyear Tyre

Grumman Aircraft

dur on........

Heyden Newport Corp.

Homestake Mining Co. Ingersoll-Manl Inland Steel Co intarchemical Corp.

Inti Bunevens Machiner Int'l Forventer **** International Nickel International

Int'l Tel. & T

Jet-Manville Co. Katser Industry ............

C. Poner i sht Kennecutt Copper

Liggett Meyer Tob. Ca. Lockheed Alrereft Loews Incorp. Lone Star Cement Co. Lowenstein & Sons, McDermall J. Ray McDorneil Aircraft

Block Exge.)

Mesabi Iron Corp. Minesota Mining Melon, Developingut Monsanto

Montgomery Ward Motorola Inc. slumped in this National Biscuit Co. Tin prices

National Cadi Iteg. "A afternoon dealings, with three-

National Dairy Prod months in traded at

£675. National Lead £070, EU65 arid 2650.

This was

followed by fur-

National Steel. Com, New York Central

Folk & Western Ky.

Amer. Aviation North-west Airlines at £057, £055, and 2650 in Mathieson

ther business

which was done

Owen-Illinois Glass

and nally, the first ring Otis Elevatore finished at £640 per ton.

040

Oxford Paper Co. Pacific Gas de Vine.

Pan American Airwayu

Paramount Pictures

Three Parke Davis Co..

Penny J. C. Co.

Official tin prices. Cash: buyers 645 sellers. months 640 buyers and 646 seliers, Settlement: Turnover, 185 tons.

Busines

$45. Fenn Bult Co.

Pullip Morri Frocter & Gamble Co Pittsburgh Piala Glass Inte in Fubilcker Industries sterling Pore ali... Redio Corporation End In 3-month at 075 to 640 | Radio Corp. Prof. sterling per long ton.

Vad done the afternoon at 650

Republie Ettal Reynold Metal

54 Roobuck & Co.

Other metal markets were shall of Cu... sieady. Prices:

(COL)

Saint Reg. Papoe Sinclair Qu Buyers Sera Secony Moblidif

Home Aloft South Puerto Rico Suger Southern Co. (The),

Spot; 19.101; Oct: 30: 3459 Mar: 3044; May: Oct: 2277 Dec 37.00; Mar: 3107 “LIVERPOOL

27

Copper

Spoz

212

3-month

in

Lead and have

Sept.

70%

Dec. |Zine and half

Bett.

7EA

7፤

EX

NEW YORK

Cotton future closings pence per lb. were as follows:

American Contract

23.02; Oct/Nov: 13.81; Dec/Jan: Mer/April 23,07: Bay/June: 23.82:

qulet. Prices closed all Min- | July/Aug: 29.47.

changed.

SINGAPORE

Mixed Contact Det/Nor! 14,41: Dec/Jan: 24.40; Mar/April: 24.30; -May/June:

The market opened higher | July/Aug: „X3.50. and ruled steady throughout the morning with lower shoots again in

לים

Prices of metal futures closed today in cents per lb. is follows:

10.3513

20.621

9.901

Southern National Cas Bouthern Railway (CoTTL} Standard Brands', Standard Of of

Oll of Ind

Sleep Bock (Toronto Exge) Sterling Drug Ca.

Stokely-Van Camp, Studebaker Packard Corp. Sunshine Mining

Swift & Co.

Texa Co...

(Textron Mic.

Tide Water Aan. Dil

[Time Ipe.

Tri-Cont. Wartanis

Twentieth Century Fox kil

Union Carbide

KAO PAULO Cotton future demand and luzeiros per kilo were as fol- good sellers a file more Ineled to To the market.

Load

closings,

In

Sept

Del.

No, i gubber per tb..Oct. 0291-009% No. 2 rubber per ib. Oct. 2

lows:

Out: 48.90; Deo: 50.30; Mar: 01.10.

In the United Blates, the aver- age price of ane-inch cotion at

Zine

Sept.

OCL

Copper

Eept.

Oct

No.

No.

P

14 doelgnatud spot markets was 94.06 (conta.

Tin

Sept.

Oct

Total sales ware 8,001 bales.mo U.P.I.

1. Gypsum

(343). Zubber

"Spot rubber sandaled",f... "GRIGI

Mankat crepe

Union O1 of çải,

Untoh Paeihe hallway {Thited. „Afrorm.it

$5.00edUaked Ɑ**

The un market was wolk- Le Co.. U.P.I.

PC, PF

Iny Tr Boston Keyttune Cus. B-1

TT

Blass, Growth

|1959 MODEL

PRICES

Bulck

New York, Sept. 18.

Division of Generni Moters Corporation announced that its lowest priced 1959 madel wili well for $43 mote than is 1058 counterpart.

The art price for the Le Sabre two-door sedan is $2,485 rot including taxes, transporta- tion and handling charges. At the same time Buick narrowed price range for its three series CATS.

ט Lh

Suggested list prices for Le Sabre, Invicta and Electra I modela run from $2,485 to $3,893

an against $2,422 to $1,380 for

the 1950 series--Ching Mail Special,

B⋅I E.A

PO B•I

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & DRIENTAL 5.N. CO.

Outwarda

"CARTHAGE"

"SALSETTE"

"SUNDA

"CANTON"

Homewards

"SURAT***

"CARTHAGE"

"SOMALI” safe

"BALSETTE"

"UANTON"

Leaves London

Una Nengkong

d September

11th October

20th October

21st August

22nd August

0th September

17th September 20th October

Lenyas Hongkong Due London

24th September 26th October

2001 Septembre 27th October

18th October 25th November

$2nd October

17th December

24th October

24th November

Via S'pore, Penang, Colombo, Bombay, Aden a PL 8416.

集

*SURAT" 20d "SOMAĻI" call 'pore, P. B'week, Penang, Aden, P. Bald, latro, London, Hamburg, Lotterdam Antwerp.

BRITISH INDIA S.N. CO., LTD.

“OLINDA"

due 22nd Sept.

Talls 2ärd 54pl.

from Japan

Penan

for Baloutta de

Magoon, Whitingong

BANGOLA" 1 Oct. for singapore, Panand

Nangcon Calcutta

P. G 0./B. I. JOINT. SERVICE

"PALIKONDA due 24th Sept. from Persian

Cult, Karachi. Kandia, Elem- bay, Cochin & Ginga- pore ratis 25th Sept. For Japan

4th Oct.

"PACHUMBA'due

sail 5th Ost

trem Karachi, Dombay Cochin, Tuticorta Binggpore for Japan

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

"ARAFUBA” due 2011 Sept. safir 25th Sept.

from Japan & Shanghai For Labus, Bandaran, Brisbane, Sydney, Mol- bourumdadaliide

Ali vessels have liberty to call at any poris un or off the route & the route à sailings are subject

in change or winvadment with or without solfie.

For Fall particulars, apply to a

MACKINNON, MACKENZIE & GO. OT HONG KONG LTD. Tetrphone Nos: 77721 4.

事

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