1958-10-10 — Page 9

* THE CHINA MAIL, FRIDAY, OCTOBER 10, 1958.

New York MARKET BUYING SLACKENS Depressed

Cotton

Market

New York, Oct. 9.

Cotton futures today

Hee- sawed narrowly in an. other slow trading sen- нісп.

Afler swaying within

الة

- range of 35 cents a'bale, the market closed up three jo off seven points. Opening prices were off one

to four points,

New Orleann cloned up four to Лve points,

Prices Remain Steady

By A SPECIAL CORRESPONDENT

HK Landa HK Realty

НК

Trams Star Ferry Yaumonia Ch Light Eleotrip

110

9314

17

WES

Mutual French. Quotidians

The following are quotations of Mutual Funds in the United States in American dollars. The {buyers' quotations include com-

mission:

Mutual Funds

Bellers Buyers

The Share Market Aź A Glance *

Up or

Sept. 11

Sept. 18

HIK Bank

745

73$

Sept. 25 74735

Oct. 2

Oct. 9

Down

750

78234

+$8.50

Lombard

28b

20b

28

Bin

steady

Union

124

73b

130

72Van

718

-$1

Wheelock

5.80

5.30

5.80

$35

5.00

+40

IIK Whart

100%

LOON

04

K Docka

421

4834

4314

4314

44%

+150

At The

Close

Provident

11.20

11.40

11b

11.30

11.25m

-50

HK Hotels

20.30

21.10

20

21.20

21.15m

-50

301x4

2014

30*2

303%

leadr

1.35

1.378

1.975#

1.85

1.376

+3140

24.00

25.20

24.00

24.90

25.10

200

110

110%

108

108n

Mendy

DAYS

03

.

17.20

17.30

04.50m 17.20

Вб

+$1.50

Amiisted Fund

0.78

17.30

+100

Am Bus Shra

7.34 4.30

Ax Block

3.03 4.10

24.70KB

25.50

24.20

23.00

23.90KT

23.200

26 23.50

25

sleads

24

+200

Doston Fi

10.63

17.00

Bullock d

12.00

itja

21.10

21.30

21.80

28.80

23.70%

+1.00

Dairy Farm A. B.

27b

17.40

16.40

15.90bcd

Canada Gen rd....

13.01

14.71

18.90

steady

Canadian Fa

£3.14

19.83

Watson

10.60b

10.805

10,000

11.10

11.80m

+200

Canadian Ini. Grow.

8.40

13b

13.10b

13.10n

13

13

Slendy

Chemical Fund ....

1889

2000

5.15b

5.10b

5b

Kb

Ib

ready

Dividend Sh

2.m

3.15

4b

4.05h

+38

Dreytus Fund

12.00

9.84A

-9.801

1.800

A.800

2.70%

-100

22.20

23.00

3.65b 75

1,45)

3.600

3.60b

Zatori de 11 Stock ...

ALDS 24143

3.70%

+100

C.85

8.800

8.90b

7.106

+200

Fidelity Fund

14.03 15.36

FTFPlays_ ...

3.74

4.00

Found Mut Fd

8.79

Con Stock

11.20 13.45

Hamu Ya BC 7 .... 4.50

4.91

Instit Found

$1.00

10.24

Small operations were given News of the Quemoy ceasefire did speed

over mainly to evening-up In

We current October delivery, anticipating its

Wednesday.

Issuance anyt

expiration on

circulation of

16 delivery notices brought spot month liquidation before the tenders wero taken up mostly by Memphis and Dallas

Not interesin,

open October position today totalled 27,000 halen. The certificated stock repnained at 48,929 bales,

Mill Plans Prin, cloth ml_plans to curtail production for the real of

up business on the Hongkong Stock Exchange this week, but there was little follow through.

Although interest slackened after the initial burst of activity on the market, prices were atcady at the close of business | yesterday.

Phone nbsorbed

HONGKONG

STOCK

UK Telephone 6.1. Остель

Lane Crawford Tall Investment Allied

HR & FE Iny Textile Corp

Nanyang

EXCHANGE STOCKS

Utilities were the best gainers of the week although they closed Yau- below their best levels, matis continued to gain this week tacking on $1.50 with a middle quote yesterday of 506. the year pointed up the current slow mili demand for Both Electrie

were well spot cotton and quieter trade rights Interest in nearby deliveries. during the week and any offers Conversely, selling was dis at their prevailing levels are couraged

the continued being sought by bargain hunters.

Business done on the Hong- heavy rate of loan impounding Phone rights were up 35 cents

Stock Exchange this Entries for the week ended to $7.35, but on Tuesday they on

to approxi- at $7.50 morning amounted 175,586 were being bought

tons and this morning's trans- Noon quota- mately $173,000.

October

by

3 reached

bates, boosting the net stock to Electric rights closed at $13.70 705,130 bales, or more than after they touched $13.80 on three times the Impoundings|| Wednesday. reported to the same time last

The net lonn yent.

flock on 1050 crop option now represents more than 30 per cent of the anning to October 1,

Optimism

cotton

The optimisa over chances Raw cotton exports today totalled 10,590 bales, bringing of some settlement in the Hong- total for the season to 108,180 keng-Lancashire balva against 770,299 bales to the same time last year, de- York cording to the New

Mar.

MAY

rizon 223,000

Cotton Exchange.

Month

Oct.

1.100

Volivas Open Interest

21.400

Dee

5,700 103.900

11,100

257,000

July

Oct,

18,000 0,900

100,700

10000

Der.

4,600

Mar.

Total

2,100 03,700

130,000 10,600

1,219,0 bales

U..]

UK STEEL PRODUCTION

British

DECLINE

London, Oct. 1. steel production

har declined this

year.

year

by 80 per cent over Inst the according to figures for the first nine months of 1958 today by the Iron Steel Board.

issued

and

Ster production in Septem- ber averaged 388,6000 tons work was at the rate at 250.000 week compared with call : 282,700 tons for the same period in 1957.

Torresponding Congwring quarters in 1958 and 1957 steel production in the first quarter df 1958 fell by one per cent, in the second quarter by 10 per cent and in the third by 10 per eent.

EXPORT TRADE During recent months the math decline in steel deliveries has been to the export trade and in the homo trade to the colileries, to makers of rolling stock, to shiphildere and, with the exception of ferro-concrete bars, to construction engineers and buliders.

The Iron and Steel Board said the reduction in deliveries was undoubtedly due in part to the running down of stocks by beth public and private eon- sumers.

and

1&e

Steel production in Britain in the Arst nine months of 1968 has been unning at an annual rate of 18.700,000 tons compaṛ- ed with 21,002,000 tons in same period In 1957.

production In the Pig iron same period this year has been running a tie annual rate of 12,955,000 tuns compared with 14,100,000 tone in the first nine months of 1057-URI.

Chicago Grain

Chicago, Oct. 9.

Wheat No. 2, red

Spot

1941

Dec. 1961 (H) 17742) 19K]j=190

Our Own Correspondent

.20.20

400

actions are:

·

Sharey Darers Sellera BANKS

Rader

TEK Bank. 77.50 www STEPPING Waterbual Wheelock. 5.0% 5.00

PENG

500

which

DOCKS, ETC Dook..... 44.30 talks. Provident, ended yesterday, Whx 191 evident in the demand for both LAND, ETC. Txilies,

which went up 10 Hotel UK Land cents, and Nanyange, which Humphreys 14.00

1.35 1.40 tacked on 20 cents for the week. Besity

Chinese E 18 RUBBER Amalg. Truste A. Taweh. Sunpoin

Tram

1000 Fr

4.30 0,90

40

11-20 11.40 2002 21.10 21.30 2000

e 1120

30.50 30.75

1.05 4.073 10,000 2

1.56

2.20

190

25

12

The sudden popularity of Cement shares has been due to buyers

better anticipating ปี dividend this year than at first The reasons for this expected. are reported to be three-fold.

XD...... Firstly, Green Island have in- c. Lit

(0) 17.30 17.00 creased their export to South- cast Asian countries; secondly, Electre...

[CITY LIGHTS

Le've

#happens, sir, półno

into thetr liquid assets at this very moment"

the supply from China has been railed; and stly, the local demund for cement is still strong

Tally for the week was 13 higher, seven unchanged and Ave lower compared with 15 hagher, live unchanged and five luwer last week. Turnover this week was $2,95 million compared with $2.11 million last week,

Improvement

Here is an lee House Street observer's becount of the market:

Although the Block Market showed some slight improve- ment following the announce- ment of a temporary ceasefire on the Quemoy front, the reaction has been disappoint ingly slow, and on balance prices show Iltile change from

at the close of (home ruling the previous week.

Ulies were first to at- traci attention with the new

24.90 25:30

(r.) -13.00 13.70

Macno E

882883 88

0.30

2000 +

IRREGULAR

ON WALL STREET

New York, Oet. 9.

Aluminium issues, liquors, televisions, and papers featured

an irregularly higher stock market today.

rose to highs were set by 120 and new| Burroughs Add Machine... best levels inlows by only a single issue.

Industrial starco around their

history and rails approuched Their highest in more than a

New York Exchange volume

21.10 year, while utilities were at a was 3,870,000 shares.

17.00

new 20-year top.

were bid

Aluminium Issues up us nuch as three points in Aluminium Limited. Alcon und Kalzer rose more than a point. This group was helped by expansion of operations by several companies 1 paris of the nation.

Electronics

various

In the televisions and elec tronics, Zenith ran up four and

New

Stock Exchange York bond volume was $3,020,000.

American Stock Exchange volume was 1,280,000 shares.

Dow-Jones closing averages were:

30 industrials

20 ralla

13 nuhtler

43 stocks

bonda

Comm. future price index.

Closing Prices

Alden Inc. Acy.

gains of one to more than two Allied Chemicals

appeared in

200 23.00 Broadcasting, Raytheon,

RCA.

10

200 18.90

Telephone

(rts.)

Clement DTC. STORES,

38.00

Dairy Xb

Walon ... Lann, Caw. CUNTONS

Textiles.

11.20 11.403 12,60

INVESTMENTS

Nanyang.

Int. Invst.. Alle

ม

3.70

7.10

1000 n

4.03

2006

Schenley led the liquors American Cyasamid Co.

or more Amer. & Forgn. PowT higher with

♫ gain Iwo points. American Am. Gas & Electric Distilling rose to nearly two Am Home Prod.... Anh Hachi Fury, in Lorillard. Steels American Metal ....

7.20 than

4.00 perked up under the lend of American Bmetting

Exchange Rates

Calif. Packing Corp.

Campbell Soup Co. Canadian Pacifle R. Case (1) Co. Cat, Tractor Celanese Car C.IT. Financial Corp. Chase Manhat. Ban Chrysler Motora Cluett Peabody. Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Commonwealth Elec. Consolidated Edition 831.01 Continental Oil of Del. 147.10 Crown Zeller back

$1.35 Cuban Amer. Bugar

160.05

D6.40

Diamond Alul

Diamond Match Co.

150.30 | Douglas Aircraft

Dow Chemicals

Dupont de Nemours

Fastern Airline

Eastman Kodak

# 21ța | El Paso National Gay

메뉴

Family Finance Corp.

Firestone Tyre & Rubber

4015

品

207%

Eaton &

Bu

Instit Growth Instit IngoTYLE Inv Tr Bostan

4.37 ODA

10.22 11.08

24.20 BILDE

Mars Inv T

13.17

13.10

30m Growth

11.00

Nat Boo Growth

3.34

736

Scudder Stock

23.60

Teler Et d

12.02

13.4

| Valus Lina Fd

0.00

7.31

Wellington F'd

15.20 14.40

Market In London

London, Oct. 9. Stock markets mado a slow start today depressed by the Minister of Labour's- warning that unemploy- ment might increase in the next six months, However, the effects of this were short-lived and most see, tions pleked up and were again on a firm fooling under selec- tive buying.

Gilt-edges were In demand abcad with and prices, wen!

galns ranging up la .

For-

elen bonds and rails were irre- gular, a feature of. rails being a further sharp rise in Antolo- aasia InsuCI.

Industrials

In the

Steel

Industriala market gains were widespread. sharox were prominent and electrical equipments advancerl on hopes of Increased Govern. ment sponding to stimulate the economy. Many Yeading issues Improved. Properly share: provided many good features. Gold shares had another poor day and prices were generally lower. Coppers, however, were vary arm following the further advance in the metal price.

Oils were generally firma.---- U.P.I.

RECOVERY MOVEMENT

New York, Oct. 9. The recovery movement in the

Ualled States

Kallar strength and has a very good cliance of continuing for an extended period.

sho Guaranty Trist Company of

TA

New York in its monthly tuxiness survey.

2216 Upturns like downturns tend to

12015

feed upon themselves and to de golf-sustaining,” the survey

KAYU.

"Now that the recovery move- ment has attained a good deal of forward thrust It seems- reasonable to sexume that it will continue for an extendest period."—China Mall Special.

E&A

POBIE

COMPANIES

RESUPRAFERCAMPERNOTE FARTSJON MAINDAR pa bi mang ng 20

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. CO.

LARVEL Landon

Salled

ليم الدي

Columbia Alod Me The.

4216

and

Allis Chalmerà

2011

Ford Motor

.....

Am. Broke Bhoo

42%

General Dynamics

American Airline

2012

Generál Efectele

Am. Cable & Radio Corp.

041

General Foods

521b

General Motory

Gen. Pith. Uu...

46)

Delly Oli

Gen. Tyre & Rubber

112

didden Co.

Qutwarde

Dre Hongkong

Goodrich (B. F.) Co.

0 points

2054

Goodyear Tyre

"SUNDA"

1044

Grumman Aircraft

2011 October

Republic

which gened more than u point

Ain, Sugar Ref,...

1432

Quil Oli.........

American Tel & Tel American Tob, "D' Anaconda Copper Amoo Steci

1921

HOL

Homestake Mining Co.

Heydon Newport Cor.

"CANTON"

30th October

01

Ingersoll-Rand

0136

bland! Steel Co.

2092

Interchemical Corp.

13

"CITUBAN"

"SALMARA"

"CORFU"

1342

"SINGAPORE''

* October

Sallyd

Salled

101

4th November

19th November

October

1701 November

What Noyember,

(Am.

Homewarde

"SOMALI" *

"CANTON"

"CHUBAN":

"CORFU"

Beatos Dongkong

20. October

24th October

Oth November

Que London

29th Novemier

-24th November

8th December

22nd December

10th January

:

Bude was done in the local Unomictal exchange market thla morning at the following rates:-- US dollar (per $11

Sterling noten (per £1) ..... Autrollon axter (per £1}.... Indonesian rupiah forr 100).. star ends (per 100) Singapore (Strata

Monsanto gained more than two in the chemicals. Great Armour

Baldwin-Lima-Hanı, Northern more than two in the Alias Cony, May papers, and Liiton Industries Balmore & Ohio inore than three in, the specials, beneficial Finance

Bendix Aviation Corp. Of the 1,109 issues traded, Benguet Cons. 607548 advanced, 412 declined sa Boning Airpishe

290 held

New Dorset (Tha) Co. unchanged.

6,20 16.00

26.07 1.30

COMMODITY

FOREIGN EXCHANGE

NEW YORK Closing rates were; Canada England official

--

3-days

H

Do-days

Australia New Zealand South Africa Holland Switzerland Argentina Uruguay

Дис

ruled quiet with narrow tuations. No. 1 rubber par lb. Oct. 0434-00

Nev.

No. 1 rubber per 16, Oct. 631-3 No. 3 rubber per ib. Ock

No. 4 rubber per lb. Det 2035 07 Spot rubber unbaled

Blanket crepe

No, pale crope

The

LONDON

842-05

71-15 07-08

1.03

rubber

market

2.10-11/10 steady

spot quoted

WIJ at

2.601 2.0012

221-000

No. 1 Rae spot

270-11/10 Nov,

281-1/10 Doc.

3654

Jan/Mer.

0780

Judy/Sept

.02000)

Oct/Des

Bethlehem Steel

PRICES

Int'l Business Machines Jut Harvester

International Nickel

International Taper

Intl Tel & Tel

John-Manville Co. Kaiser Industry

Kennecott Cupper Liggeit Meyers Toh, Cu, Lockheed Aircraft Lews JacOIT. Lone Star Cement Co Lowenstein & Sons. McDermott J. Bay McDonnell Aircraft

Slock Exge.) Mew Iron Corp. Minnesota Mining Minion Development Monsanto Chernical Co. Montgomery Ward Motorola the National rust Co.

Total sales were 30,304 bales. National Cash Reg. "A" U.P.3.

SUCAR

New York, Oct. 9. World No. 4 augar futures closed today unchanged to two points higher with sales of 173

with 24-15/10 pence per lb. Prices!

****** 3431-25 Settlerpent house term:

contracts. 25-2345 23.231

April/June

point

Con

Domestic No. 5 sugar. closed y one point higher to one 2-24 lower with sales of 82

tracts.

Genemt markets, eit basis purtar Och.

イ

2.80%-3.80-17/18 2.724-9.72-5/10

Nov. Dec. Estato crepe thin Det, Batata etape thick Nov.

241,-2316

10.6614-19.5551%

.P.I.

LONDON Cinsing rates were: rights for Electries and Tele- New York phones being again well Montreal absorbed at advancing levels, Amsterdain but both closed fractionally Copenhagen

Frankfur below the best.

Lisbon Milan

Elsewhere Cements found stockholm renewed support and made Vienna useful gains of $1.40.

Taxities were a shade firmer

but dealings were fight.

There was little change in other issues.

Market Diary

Here is a market diary of the week:

1209-34 Friday:

היו

39.9216-10-33 11.4015-710395 30.23-60.50 174214-17655 14.6974-14.40 72.39-72.36

Others unchanged:-U.P.L.

RUBBER

NEW YORK

Closing prices:

Ruled steady, T/O: $683,000.

Nov,

1519-

Atary

13132

Monday:

July

armer T/0:

Sept

.Nov.

Prices generally

showed

Tendency.

Mar

May

July

Sept.

1981 1301- 105-12

Corn, No. 2 yellow

Spot

Dec.

Mar.

1301-132 114% 11734-N

Bée, now

Mar

Мду

Dec

Mar

O

Dad,

Mar

Beybeaus, No. 2 yellow

Spot

218A

Nov.

1106 Tuesday:

Mar

MAY

Spo!

New York flour

200 16. sack

110-130

$12.90

T/O: $844,000.

Thursday: Quiet

M/AL BARK,000.

ht

$750,000.

Prices well main tained. 10: $703,000. Wednesday: Dull and featureless,

conditions.

COTTON

NEW YORK

Prices of

cotton

futures

Contract No. 4 (world) Jan: 2.40:

Mar: 3.40:

National Dairy Prod. National L

¡Com.

National Steel Corp. New York Central Norfolk & Western By. North Amer. Aviation North-west Airlines Olin Mathieson .... Oils Elevators..... Owen-Ellinois Glass Oxford Paper Co. Pacific Gas & Elec. Pan American Airways Paramount Pictures Parke Davis Co.

Penny 7. C. Co.

Penn. Salt Cp. Philip Morris..

Procter & Gamble. Co.

Pittsburgh Plate Gloss.....

Publicker Industries

Pure Oil.、、、

Radio Corporation

Republic Beel

Radio Corp. Pret.

40.

Reynolds Afetal

Sears, Roebuck & Co.

Shell On Cp.

Baint log. Paper

Мау: 3.40; Juty: 3.41;

Get: 3.40 Sept: 3.41; Spol-feente per b. fab Cuba):

Open interest: 6.139 contracts. Contract No. 6 (domestic) Nov: 4.93; Mar: 5.50; May: 3.70: July: 4.75 Sept: 5.171 Bppt-(cents! per . elf NY ex-duty): 5.99.

intered Оред

773 น.ส.

contract

METALS

closed today as follows:

Spot: $120 Ort: 88.70: Deo: 36.22: Mae: 30.71% May: 30.58; Judy: 34.50 Oct: 1 Dec: 31.60: Mar: 3200. NEW ORLEANS

futures today Prices of cotton

$21.06.

50.10

30.10

30.00

30.00

10.95

NEW YORK Prices of metal futures closed

粒す

Sinclair Oll

Bocony Mobilon

Solar Aircraft

Houth Pierta 'co Sugar Southern Co. (The) Southern National Ga

Southern Railway (Com.)

Standard Brands

Standard Olt of Cal,

Standard Oil of Ind.

Standard Ou of NJ.

| Sleep Hook (Toronto Exas.)

Sterling Drug Co. Binkely-Van Camp.

Buahine Mining

Studebaker-Packard Corp.

Bit & Co.

Tide Water Aun, Oll

Tri-Cont. Warrants

centa per lb.

as

follows:

тахая се

Lipect Oct.

Zine

Copper Opt.

19.300

Textron the.

Dec.

-11.20

10.b

Time Inc.

10000

Union Carbide

D

LONDON

Rex rubber futures today closed today as follows: closed five to 15 points higher

Spot: 34.75; Pet: 1501; Dent 20.30; with sales of 100 contracts. Mar 2010 Stay: The 20

54.70: Get: 2015: Dec: 120. Bar: LIVERPOOL Catton future closings, in pence per ib. were as follows: America Cantraci pet/Nav: 443: 10.23

'Dec/Jan: 3453; Mar/Apri: Ho; May/June: 24,05: The tübber market was July/Aug. 22.05.

Mixed Qintrach steady. Prices closed today in auliders per kilogram, cif Oct. Mar Apisi 110 MAY/JU: 24.53:

Gol/Nav: 21.96; Den/Jan: 24.90: follow:

AMSTERDAM

ps follows:

No. 1 rubber

2.40 gek

gła, a rubber?

No. 3 malber

No. 1 pres

LINGATURE.

July/Aug: 2373! Oct/Nov: 23.31.

SAO PAULO

חכם לב

27016

D3,000

94506

Prices of metala claced today

Twentieth Century Fox Film

Union Oll of

Union Facile Railway

United Aircraft

United Gas Corp.

4

U.S. Foll""

8. Cyp

US. ne Co

B. Amelting

In sterling ger long ton 9.8. Bubber

Copo

-meth All prices ungulied today.

Sure th・ in the United States the Lenka Liu kund Rycrage price at oneelboli cat,

The market sened higher un fon al 18 stijenata spot maar, zato lat tipiz

"end_kets was $1.75" cats,

Buyer Sell

17. steel an

7730a 1974 U.S. BIR Y P.C. PP

Warner Bros. Westinghous

Air Brake Westinghouse Mectric ........ Western Union Del. Co. Was Vk. Pulp & Raper-

な

1214

11 November

"SALMARA" † 71h Berember

Via S'pore, Penang, Colombo, Bombay, Adeo a Pz Szia. "SOMALI" calls A'pore, F. S'wet., Penang, Aden, P. Seld,

Elavre, "ondan, Hamburg, Rolteṛdam & Antwerp.

1 BALMARA calla Rejang, S'pore, Pt. Sweitenham, Aden,

Said, London, Hamburg, Rotterdam & Antwerp.

BRITISH INDIA S.N. CO., LTD.

"BANTIA"

de 15th Oct.

All 7th Nov.

"FULTALA" due 22nd Oct.

salis 23rd Oct.

From Calcutta, Rangoon, Penang & Singapore for Japan

from Japan

for Bingapore Pemang Rangoon Calcutta

Chittagong

P. & O./B. I. JOINT SERVICE "PACHUMBA".

In Port

salis 11th Oct.

La Fort

“OBRA"

A 11th Oct.

"ORMARA"

day 14th Oct.

salis 19th Oct.

from Karachi, Bornbay, Cochin, TubDopla Singapore

Бог Украд

from Japan).

for Singapore

4

Bhayna-

ger, Karachi, canals de Bombay

From Karachi. Bombay Cochin, Penang Bingapore

for Jupan

EASTERN & AUSTRALIAN S.S, CO, LTD.

"NELLORE"

due et Oct. salls 15th Oct.

"NANSIN"

due toth Oct.

anile 19th Oct.

from Jepan de Shangfri for Leirown." Hebdakan, Brisbane, B

bourge Adelaide

Fram

Australia

JYZASILIM Jof Japan.

All vassola 'wave liberty to call at any porta am or of the rents às the route à millsgs are subject to change or amandmani with or without notice.

Teo full particulars apply ta's MALKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos: 277214.