THE CHINA MAIL, FRIDAY, SEPTEMBER 26, 1958.
CHANGE OF STOCKS FALL ON MARKET Confident
ATTITUDE IN FAR EAST
New York, Sept. 25. The nations of the Far East, long suspicious of the colonial implications of foreign investment capital, have recently begun to change their. attitude, Henry Kearns, Assistant U.S. Secretary of Com- for fiftornational Affaim said today.
marca
*These steps are only a good beginning," he told the luncheon menting of the 11th Annual Fär East Conference of the Far East-America Council on In- dustry and Commerce, "From the slandpoint of volentia) United States Investors, e climato for private fortion f vesimant in most countries of the Far East, leaves much to be desired,
"Until recently, officials of the Far East nations, belleved that foreign capital was walling at their doors, eager to rush" in. When relatively uttle foreign capital sought entry, the For East felt surprise und bewilder- ment."
"At least, that revelation of occidental hesitation has helped clear up the suspicion that Western foreign capital Is the right arm of colonialism...
"Any great Far East econo-
11K Bank
Lombard
Union
Wheelock
HK Wharf KK Docks
HA Hotels
2013
Up or Down --$7.50 leady
steady
-100
* The Share Market At A Glance ★
Aug. 28
705
Sept. 4
135
Sept 11
Sept. 18
Sept. 25
745
705
74736
28b
2744b
25b
28b
260
7334
*2b
72b
73b
5.90b
5.80
$.80
5.90
&60
100m
100%
1001
100%
-$
4254
4234
4214
4334
424
steady
Provident
ILGA
11.20
.11.20
11.40
11b
-400
20.60
20,20
20.30
21.10
800
HK Lands
8214
.... $1
30 xd
31
20%
-600
•
IK Really
1.40
1.35
1.35
1.375
1.375#
steady
KK Trams
25.80
25xd
24.00
35.20
24.00
w-800
Star Ferry
111n
111
110
110N
110
steady
0414
04540
0434
0314
0314
Ch Light
17.40
17
17.20
28
27.60
24.10xa
17.30 23,50
17
26.30
steady --300
SI.20
25.60
23.20
25.00
27.90xTMTM
23.206
--700
22.10
22.19
21.10
21.70
21.80
+100
17.30
10.50
170
17.40
10.40
-1
10.700
10.50
10.Gob
10.00b
10.600
-100
13.20m
13.10
13b
13.10b
13.10n
6.800
5.15bxd
6.155
5.106
511
-100
4.05
9.80
Ab 9.800
2
4b
9.80%
1.800
3,70 7.05.
3.656
3.65b
Ta
0.85
9.50n 1.60b. 0.80
Electrics
HK Telephone G. I. Cement Dairy Farm
A. 8. Watson Lane Crawford Int'l Investment Allied
HK & FE Inv Textile Corp Nanyang
1.800 0,95b
steady
steady
steady
-50
30
SELLING PRESSURE HEAVY ON WALL ST.
New York, Sept. 25.
mic expansion depends on the Selling hit the stock market today as Wall Street awaited
steps Asian countries take
Improve their
to
Investment ell-
mates. Then, with help from abroad, the Far Eas! must seek
what it felt would be a new rise in margin requirements.
Trading ruled active all day, out and develop Individual in- Shortly before noon the market vestment opportunities."~~~U.P.I. } fell on a selling squall with the tape running inte. Then came a recovery which lifted prices to new highs. And finally, a lato decline left the at lower on the day,
Chicago Grain Market
Chicago, Sopt, 25. Grain futures prices closed on easy levels today on the Board of Trade.
Wheat No. 2, red
Spot ......... Dee. 19415011) 190KL).
Mar
May July
1890 1998-14 1904-190 100%
Corn, No. 2, yellow
Dec. new
120-12014 11856-N 110 110%-15 1109
in arms output sent the whoje, Boeing Airplane economy into a tailspin.
or 1.292 letues traded, 628 were lower, 105 higher on the day.
Borden (The) Co. Burrough Aid Machine Call. Packing Corp.
Campbell Baun Co. Canadian Pacific R. Caso (1. 1) Co. Cat. Tector... Celanoce Corp.N Exchange. I. T. Pinakell Cirp.
Chuan barhat, Bonk Chrysler Motors
Stock Exchange New York volume was 4,400,000. New York Stock bund volume was $8,370,000.
American Stock Exchange volume was 1,030,000 shares.
Dow Jones closing averages were!
Tho
decline Dear closing time was accompanied by $4 into ticker. Zonith Radio fell four points. A long list of more than others fell one to two points, including Interna- tional Paper, Coca Cola, Ameri- can Telephone, Youngstown 20 rolle Sheet & Tube, Reynolds Metals and Caterpillar Tractor.
Knocked Down
Studebaker-Packand knocked down after early steedi- rss, US. Steel met steady sell- Ing which lowered the price. Somo of the metals, motors, chemicals and special steris. Issues fell away from the pre- 12244-133 vous closing lovels
1341
Spot
rice
Mur.
Mar.
May
Ryc
Dec.
Mar.
Dec.
Mar
047
Soybeans, No. 2, yellow
Spot
Nov.
Jan.
Mar.
Bay
July
મ
219nom
2201
220
22415-
22991-200
230
Брс ....
113-123
New York flour
$12.00
-U.P.I.
Barley,
200 lb. Back
industrials
326.A3
141.04
i
80.10
tocks
18:02
40 bonds..
00.77
Comm. future price index
151,00
Allied
Closing Prices
Chemical
All Cladner's
Clue Peabody, ....... Colgate-Palmolive Co Colombian Carbon Co. Contmercial Credit Commemveals Elec. Consolidated Edison Continental Oil of Del, Crown Zellerbach Cuban Amer. Suger
Diamond Alkali
Diamond Match Co
Douglas Aircraft
Dow Chemicals
Dupont de Nemours
Eastern Airline
45
53%
Many Losses
Due
To Political Situation
By A SPECIAL CORRESPONDENT
The uncertainty of the situation in the
Mutual Fund Quotations
The following are quolations of Mutual Funds in the United States in American dollars. The buyers' quotations include com- mlasion:
Farms Funde
Am Bua Shirs
East this week sent stocks on the Amated Fund Hongkong Stock Exchange down after Sock their partial recovery last week.
The feeling on the markel was one of persunism, which was
quite a change from last week's
Lad of
This optimian. resulted J wide Joses, the majority of which were caused by the present political situation while a number of the losses he accredited to local could Jcauses.
The Tally
HONGKONG
STOCK EXCHANGE
Of the 25 stocks listed, 15 were lower this week compared with three Inst week, There was only
Our Own Carrespondent Jone stock up and that
Cements, which rose 10 cents.
Business done on the Hong- Last week there were 16 shares kong Slock Exchange this hipher. Nine stocks stayed morning amounted to approxi- changed compared with six Instmately $141,000. Noon quota- week.
tions and the morning's trans- actions were:
Provident ta burers' quote
of $11 was very near it low for this year, while Hotels, which
Shares
BANICS
20
Buyers Heliers
Halee
CITY LIGHTS:
The bulk SIUPPING Wheelock.
7471,
5.00 3.00 tuża
330
NOCKS, ETC. Dock ..... Provident,
(0) ..... #1 11.10 404
-43 43>
43%
---|·||
LAND, EIC.
HI Hotel
2014 20.GU 30%
2017 20
1.325 1.37
1.03
A. Tawah
220
bengale
1.00
You certainly are a tímid investor, Mrs. Rabbitt "
elicopod 60 cents, were at their lowest quote since June,
In the utility seellon Phones cropped 70 cents on their ex- rights price last week of $23.90. Dealings in Electric rights, which came onto the market this week opened
at $13.60 but 40% dropped to $13.10 at which level Kai there 20% resistance.
Eastman Kodak
was
Et so National Gr
Asters Inc. Acy,
Fainly Finance Corp,
2
ht
Alled Mills Inc.
401
Firestone Tyre & Rubber
10
283
Ford Motor .....
479%
Am. Brake Shoe
42%
General Dynamica
691
General Electric
American Airline
GO
Alberican Cable & Natilo Corp.
General Foods
EB12
Atherican Cynruild Co.
nois
General Motor
Gen. Trib. SUL.
433
Gen. Tyro & Rubber
100%
Celly Dou
Gudden Ca
245%
Goodrich P. F.) Co.
47
132
53%
Grumman Aircran
Cuff O
20% 11412
inte
SEP
Parke Davis, responding to -a move for one split, netted more then five points on the day. A Issues sizable group of other move up a point or so. Pazer. Revicn, Pilátup and Westing- hore Electric were strong in Their respective sections,
Aircrafts were weak all reflecting moves
urma material.
Amer. Foren Power Ain. Gas & Electric Ac. Horus Prud, Ain, Mach. & Fiy American Metal.... American Smalling Am Suxar Ref.... American Tel & Tel
Tab. "
ARIANT FORME
Anne Steel Armour
Atlas Cork, Mining
Eskiwin-Lima-Itam,
Belikmore & Ohio
day
to cut back
Bendix Aviation Corp.
The street re-
called that the previous culbacks
COMMODITY
FOREIGN EXCHANGE
NEW YORK
Closing rates were Cenadi England official
**
Australia
90-day 00-doye
New Zealand
South Africa
Uruguay
Pakistan ***** Other unchanged.
LONDON
Closing rates were
New York; Montreal
Amsterdam
Brusveld
Copenhageni. Frankbirt
LADOR
M
Dato
Parte
Vionne Zurich
· Stockholm
1.02 10/33 звоз
200 7/16
2.00 1/15
22415
EXTO
201*
1300
4103
2107
2.50 9/16-2809" 2.7311-3.73 10.5611-10.5041 13050-130,30
19.336~10.3391 11.07-13.001 00:46+00.00 174016-1741 109912-20,00 1170-11781
144735-146733. 72.33-12.33 12.30-11.20
U.P.I.
COTTON
NEW YORK
cruzaros per kilo were follows:
as
Oct: B010: Dec: 6010; Mar: 00.80; May: ungvoted
Lin
the United States, the average price of one-inch cotton
at 14 designated spot markets was 34.71 cents.
Total sales were 14,332 bales. -U.P.I.
RUBBER
NEW YORK
Rex 'rubber futures today closed 20 points lower to 15 points higher with sales of 26 contracta,
Closing prices:
Sept: 20.40 Nov: 29.55; Jan: 29.30; Mar 29.23; May: 22.20; July: 29.10: Sept: 29.10.
AMSTERDAM
The rubber market was dull. Prices, closed today in guilders per kilogram, clf Oct. as follows:
Nn.
rubber
.2 rubber
BeneOctal Finance.
Benguet Cons.
Detlichem Steel
PRICES
METALS
NEW YORK
Prices of metal futures closed today in cents per lb. as follows:
Goodyear Tyra
Heyden Newport Cory.
Honestaka Mining Co. Ingersolt-Hand
Inland Steel Co
Interchemical Corp.
1 Bustness Machines Int Harvester ..... Intemctional Nickel International Paper Ini Tel & Te!
Low Incorp. Lawenstein & Boish Meermatt J. Itoy
2015 Laud
Beally
RUBBER
Amalg.
UTILITIES
TTA 24.40 240p
Youmari
C. Iglit
Boston Fan
Bullock Fund
Chemical Fa
Dividend S
Dreyfus Fund Calur & Hai Eaton & 1 Block
FF Plan
Belters Buyers
4.00 734
4.07
3.30
435 4-25
10.33
17.00
12.73
1300
Canada Gen Fa
1547
14B6
Canadian
d
10.34
19.02
Con Int Growth
7.07
8 32
10.44
2.
10.79
3.12 11.53
22.11 -23.04
3156
.20.03
Fidelity Fu
14.43
15.00
107
402
Found Mut F
5.00
5.43
Com Stock
12.11
13.20
F RC 1
4.49
4.20
Instit Fours?
5
10.93
TRI
Grow U11
10.20
11.20
Inati Income
3.72
BAL
Inv Tr 13ortun
10, 19
11.14
Keystone Cus. 134
24.100
2321
Mass Inv
12.13
23.10
Mass Growt
11.4
12.33
Nat Sec Growth
0.30
7.30-
Scudder Stock
23.30
23.30
Telev El Fa
12.03
Value Line Fil Wellington Fd
Air
In London
London, Sept. 25. Stock markets maintained a
general air of confidence today holped by the news of another all-time high on Wall Street yesterday and the news of the £23,000,000 rise in bank loan since the ending of the credit squeeze. Despite the fnet that buk rate was unchanged there was
o sizable business in the gilt- edged market and prices "Im- proved by 1/10 and closed at
lie top.
Forebi
bonds were Ille changed and rails were
quiet
but Trans-Atlantic istucs nived
Ap in myopathy with Wall Street.
Good company nows heard a number of industrial couities and many leading issues closed. higher, i. C. I. were a Flood market in front of this evenlige inlerim dividend,
Gold shares had a quiet dpy and lacted a decides trend but lend- coppers were Urm and zincz were looking sieadler. Tins were generally firm
case.
Oila moved narrowly jattel Inclined ter
Shell Lot 13:12-1/4/- to 146/- after the un- 6.33
7.14 changed interim dividend. 13.in 14.37 Hubber was firm-UP.I.
ICI MOVE IN AMÉRICA
London, Sept. 26, Imperial Chemical Industries
Limited and Celanese Corpora- † The location tion of America have formed a Company on a 50-50 basis for the purpose of manufacturing in the United States a polyes; for that is chemically the same „as "teryland", 1.0.1. announced
here today.
500 2011 "Terylene* Is a well-known polyester fibre manufactured In
300 24,00
Star Ferry
++
120 107
BI 131
10.00
100
00
17 350
12
2000
200
10.00
24.00
tris) 13.10 13.30
6:03
13.20
13.20
Mectric ...
22
Telephonta 23.10 23.40 100k) INDUSTRIALS Concil... 21.06
STONES, ETC. Day 16.30 18,40
Watson +
703.000
appeared to
be Fonte
COTTONS
*Textilex
Dividend
Dairy Farm's interim dividend
147 of 524 cents, compared with last
301 year's 55-cent dividend, was not
13%
83
well received on the market and
da share dropped $1 during the 433 week, closing at $10.40 yesterday, Watsons dropped 30 cents,
Turnover for the week was down seven lakhs to $2.28 million compared with $3.04 million last week.
112
John Manville Co.
4415
Kaiser Industry ...****
13
Kansa C. Power & Light
Kennecott Copper ........
054
Ligeti les era Tob, Co.
Lockheed Aircraft
20+
5!
Alrerait (AI.
314
Minnescla Mining Mission Development Monanta Chemical Co.
70%
2
34
Montgomery Ward
Motorola Inc.
National Biscuit Co.
National Cash Reg. "A
Expo.) Membi Iran Corp.
National Dairy Prod.
National Lead ....
National Steel Corp. New York Central....
Norfolk & Western Ry. North Amer. Aviation North-West Airlines (Com.) 10.00b
Olin Mathiesen 10.07 Otle Elevators...
Owen-Unis Qlass Oxford Paper Co.
10.02 10.005 Pacião Gabe loc.
Pan American Airways Paramount Pictures
26.45
26.450 Parke Davis Co.
Penny J. C. Co. 01:50b Penn. Salt Co.
Mora..
10.40 Pia Gamble Co.
Pittsburgh Plate Glasg Pubileker Industries
LONDON
Prices of metals closed In sterling per long ton follows:
today
Pure Of ........
Tadio Corporation
FLS
Radio Corp. Prez
Republia Steat
Buyers Seller
| Reynolds Metka
Tun
Bears, Roebuck & Co.
Бров
729
730
234 nom
2.30
nom.
122 nom
2.03 nom.
3-mouth Copper Spot. 3-month Lead 2nd half Bept...... Dec Zine 2nd half
Sept Dec.
21215
Bhail Dil Co......
7124
Saint Reg. Paper
Sinclair bi
21194
212
Sopony Mobilais
2121%
Solar Aircraft
South Puerto Rico Star
0214
Southern Co. (Te)
20
7015
Southern National One'
Southern Railway "(Can.)
65%
Standard Brands ....
00
-UTI
Standard Oil of Cal
Standard Oil of Ind.
Standard Of of N.J.
Sleep Rock (Toronto Exge
Sterling Unit Co.
Stokely-Van Camp,
rubber No. 1 crope
SINGAPORE Deyile lower overseas prices the market opened around the previous levels but later it enred lightly on some liquidation be- fore the long week end. Futures: No. 1 rubber per lb. Oct. Bay2-B3%
Nov, 03-83}
Prices of cotton futures closed No. 2 rubber per tb. Oct. 1.92
today as follows:
Spol: 30 001 Oct: 3501; Deer 36.00: MAT: 3651; May: 30,45; July: 3430; Oct: Dec: 39.11: Mar: 33.00.
NEW ORLEANS
Prices of cotton futures closed today as follows:
Bat: 33.10; Det: 35.00; Dec: 3500: Mart 1080; May: 2047) July: 2464; Ost 3233: Deu; 2000; Mar: $8.50
LIVERPOOL
Cotton future closinga, pence per lb, were on follows; American Contest
No. 3
W
7414-7032 7632-27
.... #2-4312
10-18
No.4 Bpot rubber unhaled Blanket creDE No, 1 paie CTCDD ...........
LONDON The rubber market was steady with spot
quoted at 29-15/16
pence per lb. Price:
20, 1 rubber Ræs spot ... 293%-04 Bertlernent house terna?
Nov.
2435-24%
in
Dr.
23%-245
Jan Mar
2435-243
April/fuse
2415-2415
July/Best.
genital markets, cif batte, ports:
DeL
Nov.
Malate crepe thin
Eslata egypu talek
Out Nov Dec/Jan: 21 MECADE: 2138. May/iuba: 35,00; July/Aug. 30.
Mixed Duntract
Oct/NOT! $124; Der/fan: MIT:
MAUTI
K1 May/2006: 21 SÃO PAULO
Cotton Niters
בוס
SUCAR
New York, Sept. 25, World No. 1 sugar futures closed today unchanged to ante Point higher with sales of 231 contract,
Domedic No. 0 sugar closed one point gher to one point over with sales of 30 contracte.
Contract No.”4" (world)
Studebaker-Packard Corp.
Sunshine Mining
Swift & Co.
Texas Co.
Textron 10. Tide Water Assn. 05 use Inc..... Tri-Cont. Warrants Twentieth Century vox rim Union Carbide ... Union Oil et Cal. Union Facile Raliway United Aircraft united-Ces Corp. UB, Toll b* U.B, Gypsum UB. Laing Co
Deti 948; Jji; 2.00; Max: 9.40 U, Hubber May 3.40 July: 240; Sept: 34: B. Belting 160 Spot (cents per lu, fob UB. Efte
Kuba) PESABLA
Opan internet: 4,421 coutracia,
Contract No. 9 (damerile)
V.B. Steel P.C. PF
Warner Bros............................. Westinghouse Air Brake
Novi Mari 001. Hugs 613. Westinghouse Kircirie SUSTOJOjenite #17 Bok (cente Weech Union Tel. Co.
Wam Van Puli & Paper
Open interest: 300 mensragitem | Woolworth-
Nanyang
3.00 3.20
6.00
MISCELLANEDUS
Entert.
18.10 11.30
INVESTMENTS
Afilad
Bon Go 10.30
400 10.30
New York Cotton Market
Here is an Ice House Street observer's account of the market; The Stock Market continues lo be influenced by the Far East situation and with few encouraging signs emanating from the Warsaw talks, dull and featureless conditions have prevailed throughout the week with the result that the pre-
week's Cair vloun
werd partially reduced.
Consequently there Is Ute opened of note to report.
Market Diary
Here is a market diary of the
week: Friday:
Monday:
75! Tuesday!
Prices move within narrow limits. T/O: $538,000.
New York, Sept. 25. Cotton futures today see- sawed indecisively over narrow limits in another quiet trading session.
off une Closing prices ruled 10 10 points The market of eight to up, one point. New Orleans closed off three to 12 points.
Most of the delivery notices up by reportedly were taken Memphis and Dallus spol interests.
0
Otherwise the market lacked Arest Kenture. Heavy 10,11 Impoundings and news that ro- coat heavy rains jeopardised the potential ylelds in central steady.T/O: helt sections arted to curb sell- ing. Conversely, buyers were
Dull conditions. T/O: $528,000. Prices barely
$477,000. Wednesday: Light
scale
featurelers trading. T/O: $153,000. Thursday: No material change.
T/O: $198,000.
Shell's Interim
Dividend
ons
hesitant in face of the continued
quiet situation in textiles,
CONTRACTS
Oven October contracts today totalled 48,100 bales. The cesti- ficated stock tolalled 44.002 bales, plus 0,11! bales awaiting certification.
*
the United Kingdom by 3.0.1'= libres divinida.
of the plant to manufactura the fibre haď not yet been decided, Che DM- nouncement said. The plant was expected, how. ever, to have an eventual _sagacity__of 40. million, paunde a year and would manufacture both continuous filament yarn and staple fiber-China Mali Special.
PO B•I E.A
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR ORIENTAL S.N. CO.
Outwards
Leaves London
Due Hongkong
"SALSETTE"
"SUNDA"
"CANTON"
Homewards
"CARTHAGE""
"SOMALI" *
"SALSETTE"
"CANTON"
22nd August
8th September 2011
7th October
October
October
17th September 20th
Leaves Hongkong Pae London
20th September 27th October
18th October 24th November
10th October 11th December
24th November
24 October
Via S'pore, Penang. Colombo, Bombay, Aden & Pt. Baid.
* "SOMALI" calle S'pote, P. S'wet., Penang, Aden, P. said,.
Havre, London, Hamburg. Rotterdam & Antwerp.
BRITISH INDIA S.N. CO., LTD.
→
"BANGOLA
dus 3rd Oct
4th Oct,
The Liverpool market closed to off two English up BOYTEL points and 714 to 926 American points under New York futures.
10 Raw cotton exports today totalled 2,054 bales bringing total for the season to 508081 bates vs 600127 balts year. secording to the Cotton Exchange.
London, Sept. 25.
479%
Ti
and Shell Transport 17 Trading Company announces 14% an interim dividend of 4234
shiling per unit, trx free, penpital increased by the rights Dit issue one-for-ten at 20 Month
Oct.
*
from Japan for Singapore, Penang Rangoon & Cultusta
P. & 0./B. I. JOINT SERVICE
"PALIKONDA m Port
tatos!
Persian Guit, Karaclu), Kandia, Bonsi Bay, Cochin & Singa pore
sails 20th Sept. for Japan
"PACHUMBA”tue
"OBRA"
4th Oct.
sail th Oct.
que th Oct. Fatir 310: Oct
trom Karachi, Bombay, Cochin, Tuticorin e
ingapore tor Japan
from Japan
for Singapore, Bhayto gor. Karachi, Kandla de Dominy
EASTERN & AUSTRALIAN 5.5, CO., LTD.
from Japan & Shanghai for Labuan, Bandakan, Brisbane, Sydney, Meli
furnio Adelaido
ļ
last
Now
*
"NELLORE"
Abe 3rd Oct. Bali 5th Oct
per share.
This was the same as the previous Interion on Smaller May Capital Tho dividend is pay-July Oct. able on November 7:
Dee
Dec. MAY
Volume Open interest
$1,300 $6,500 15.300
204,400
6,000 213,700
0,000 250,100
1,000
141,500
4,700
188,500
1,000 181,000
400
1101
Tho Itoval Dutch Sholl Mar, 48% group announced an interim Total 511% dividond
of 1.50 guilder per shore-China Mall Special,
2000 30,500 1.12,300 talea
--U.P.J.
No Price Change Exchange Rates
Tho
London, Sept. 23: International Tin
Council today decided to make
Rose Wer done in local unofficial - - exchange market ihle morning at the following rates!--
B. dellar per $1} Sterling notek (per,:21)............. of tin at which" "the" bilder || Kuvendar poter (per £15.
no change in the present prica
stock senager.can: opérača (um | Indompany, rupina – (per 100).
the market-Reuter,
siam tenia (per 100) Singapore (flamita)
11.03
Ali veamele have liberty to call ́at any ports on
or off the route & the routa de sailings are mbjøet
to change or amendesent with or without notice.
For full partiraları újiplę to MACKINNON, MACKENZE & CO. OF HONG KONG LTD Telephone Nos: 77721-4,
*
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