1958-10-24 — Page 9

THE CHINA MAIL, FRIDAY, OCTOBER 24, 1958.

NO INCENTIVE ON MARKET

HONGKONG Prices Tumble

STOCK EXCHANGE

Our Own Correspondent

konk Stock

Exchange this

In Short Week

Lowest Tarnover

By A SPECIAL CORRESPONDENT

Business cone on the long The complete lack of incentive on the Hongkong Stock Exchange this woek

morning amounted

ta дро proximately $305,000, Noon quotations and the morning's Transactions were:

Shares Buyers Hellers

BANKS

Thank 74716 7622

East Asia

INSURANCES

Union

Lumbard

SIMEPING

Wheelock DOCKS,

EXT.

Batre

sent prices tumbling.

Interest that was reviving | slowly on the market during the

90 750 past weeks after the Communist

curfire

certainly WOR

not mbelea this week with the re- 70% sumaglion Uf the shelling of

Qe moy.

02

120 / bug t

100

10

650

អៗ 10

441

LAND, ETC.

1120 1130

20.50

30 307%

30

$ 1

XXO

K. Whart. ck. Prussent,

JFK Batel

The Land

74şdarmyn 1440 10

RUBBER

Aug. XD 321,

Trust

1.66

A. Tawala

Sungala

UTILITIES

I WO

470

"I'ratis

Star Ferry 106 106 400 2 Ykunnu

الا الله

101

However, prices were holding 31 preseal levels and it is like- le it the current politka! : itune Leg tlon does not deteriorate, market wil just drift along on ite present quiet state until the ch 11 the year.

The Quietest

This week has

been the

restricted scale on account of the week being cur 1ulled by holidays.

the re- Apart from sumption of the shelling the of Quemoy by Chinese Communists which taused-buyers to adopt a cautious attitude, the market generally lacked any incentive and prices were inclined to drift fractionally lower where changed.

Market Diary

Here is a market diary of the week:

quietest on the Stock Exchange fur the whole year with the turnover for this short week of 197 two full and two half days'

trading amounting to only Friday: total of $184,000 worth +>[

Lockel

HK Bank Lombard Union Wheelook HE Warf

Star Ferry Yaumatis

Ch Light

Electrics

A Glance ★

Mutual Fund Quntations

PRICES EASIER IN LONDON

The

London, Oct. 23,

furthor overnight weakness on Wall Street and a general move to consolidate recent sharp gains on the Stock Market acted to restrain trading and pricom word today mostly castor, Gilf-edged securities sellers Buyers strong but gains

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

اللاهو

opened were pracu- cally all wiped out at the close following the announcement of no change in the bank rate.

RECEDED

The Share Market At

Up or

Sept. 18

Sept. 25

Oct, 2

755

74714

700

Del. 9

1521

Oct. 21

Down

TATISD

-$3

28b

281

280

280

290

steady

TED

$254

7146

754

+$1.80

5.90

5.80

8.85

5.30

5.80

-100

100%

*80

061

150

943

-300

HK Dooks

4314

4334

4814

4414

250

Provident

11.40

11b

11.30

11.25m

11.30

+50

HH Hotels

21.10

+

201

21.20

21.15m

21

-150

HK Lands

31

30

3031

30%

3014

153

HK Really

1.375

1.375

1.30

1.375

1.3700

steady

HK Tram

25.20

24.00

24.90

25.10

24.701

-100

1105

110

108

108л

100b

$2

9814

Blutual Fun

0774

08.30m

90m

03

www-$2.50

Anunted

17.30

25.55

17 Z1.20

17.20 25

17.30

17.10

-200

Am 13 hrs

6.210 4.12

4.40

HK Telephone

23.90xr

G.

.1. Cement

21.70

23.20b 21.80

21.80 22.30

25 24

24.60

100

Ax Stock

3.80

23.80

-200

foston FRE

10.04 17.50

Bullock F

13.00

14.34

17.40

18.40

16.90bxd

10.90b

10.00b

11.10

23.701 15.90 11.30m

23 15.com

--700

Canada Gen Fa

13.01

13.04

300

Canadian Fu

1/1.60

20.13

Canadian Int

1.00

5.61

Ilb

--300

11.00

Z330

wide

18.10b

13.10m

13

13

13.

stendy

100

3.07

Industrials receded on A

front. Shipping

Issues

11.2

1250

Elde

while

5.10b

въ

бъ

b

steady

24.03

steel shares

and

blue-chip

$6

сь

4b

4.05%

4b

-50

22.03

51

9.8on

9.30n

9.801

9.708

0.20b

Picrity Fund

14.77

13.97

3.65),

3.60b

3.00b

3.708

4.10s

0.801

6.90b

7.30

7.10b

+100 steady

FIF Ulan

17

4.13

Found Mut Fu

#1.91

9.71

Com Stock

12.30

1353

Hamily HC-7

4.31

ནས་

instit Fount

10.18

1.14

Insti Grow L1:

10.30

11.32

6.41

1.01

{0,41

10.43

were lower.

24.31

20.2%

дл otherwise

11.0

1274

bond marktet.

13.31

14.02

Dairy Farm

A. B. Watson

Lane Crawford

Int'l Investment Allied

HK & FE Inv Textile Corp Nanyang

6.85

*0**

MARKET ENLIVENED BY

FEW SELECTED STOCKS

New York, Oct. 23.

Incentive. A spurt in railroad issues and wide gains in a few selected

T/O: $370.000.

23%

17.00 17.40 1000

100

Electric .. 21.00

390

1750 17.30 24. 500 or 24,70

Tursday:

Quiet and fea- tureles. T/O:1

142 14 24.10

ris. 13.30 13.50

13.

CITY LIGHTS

Mac Elec..

1000

4.10

$89,000.

Wednesday: Locked

Telephone 23.20

갔다

T/O: $212,000.

INDUSTRIALS

Thursday:

Price unchanged. T/O: $311,000,

300 6

*

(ris.) 7.20 7.30

4riment 24.50 23.20

STORES, ETC

Dairy 191 13.70

Watson ...

11 11.40

Lamy, Crow. 12.00 12 500 32.00

COTTONS

Textiles ·

430

Nanyang

7.15

7.500

$20

INVESTMENTS

int. Lev...

Allied....

Discount Rate Raised

23

Washington, Oet, Five United States Federal Reserve Banks. bave raised their discount rate from two to two- und-a-half per cent effective to-

arc

"Yes, Wilkinson, there's a rise in Oils, a rise in Stores, A rise in Industrials and

Gill-edged but not in Wilkinson's salary."

London Exprese Service

It was in the last those of business

St week of August that the second lowest week's turnover for the It was just yeur was recorded. after the Middle East crisis and was down to $1,800,000,

FROTTOW.

The banker Philadelphu Richmond, Louis, Mlaneapolis and Dallas. other Federal Re- The seven serve Banks were maintaining the two per cent rate.France Presse.

stocks enlivened the stock market today.

| Star Cement Co.

Lowenstein & Sotto. McDermott J. Roy

Aircraft

McDonnell incentive.

Chicago Grain

Grain

Market

Chicago, Oct. 23, futures prices closed Dostly weak today

on the Board of Trade. Wheat No. 2, red

Sout

1921-10

100%

137%

illvidend

Trading picked up in volume after ingging for three sessions. The improvement reflected some favourable

actions, SUNI steady earnings state mcnta and

business general statirties steady cost of living index. Kemecott going on a seven-day werk basis, prediction of sharply higher earnings for farmers,

and

Tobaccos ruted strong as a

group, featured by Lorillard Schenley paced a rise in liquors, Several specials registered gains three ranging to more than points.

Declines

Stock Exge.} Mesabi Iron Corp.

Minnesota Mining Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Inc.

National Biscuit Co. National Cass Rex. "A" National Dairy Prou. National Less National Steel Corp. New York Central

IAM.

Norfolk & Western Ry. North Amer, Aviation North-west Airlines (Corn) Olin Matije

Otis Elevatore

Owen-isola Glass

Oxford Paper Co. Pacific Gas & Elec Pan American Airways Paramount Pleturer Parke Day's Co..... Penny J. C. Co.

Declines in chemicals, metals and motors brought a moderate decline in the Industrial section 12- while rails and utiles armed. Peon. Balt Co.

With few exceptions prices slipped back from the highs on an active close accompanied by

late Ucker. Of

issues

total 1,200 traded, 505 were lower, 472

1816

Dec. 19ájálf) 192M(L)

ifar

Alay

July

Sept.

Corn, No. 2, yellow

9t

1152

Dec.

110

Mar.

114

kiny

11044-34

July

237-2

Sept.

11933-12

higher.

Ryc

Tally for this week compared with two weeks ago was three higher, Ave unchanged and 17 lower compared with 13 higher, seven unchanged and five lower two weeks ago.

Dr. Mar Soybeans, No. 2. yellow

Sput Nov.

1201-43 130%

200150

Jan.

Mar.

May

6.79

16

Austalian notes (per £11

12.35

Indonesian rupiah (per 100)

8.30

S ticals (per 1001

27.09 1.

Here Is un Ice House Street observer's account of the market: the Stock Trading on Market has been

Juis

Barley, Spot.

New York flour

200 . ek

ол д

Exchange Rates

mer

in the was dore

local Enofficial erchange

Jarket thila noting at the following rutes:- U.B. dollar (per $1) ...... Sterling notes (per 1

Singapore (Straits)

2151-210

219-34

2234-223

116-130

$12.50 -U.P.I

Exchange

New York Stock volume was 3,610,000 shares.

New York Slock bond volume was $5,470,000.

American Stock Exchange volume was 1,130.000 shares.

Dow-Jones closing averages

were:

30 Industrials

20 rails

13 utiles

Enlocks

4 bends.....

Coma. future price Index ..

Closing Prices

Alden Inc. Acy.

Allied

Chemienia

Allied Milly ine.

Am. Brake Shoe

Philip Morris Procter & Gamble Co. Pittsburgh Male Gla Pubiteker Industries

Radio Corporation Radio Corp. Pref. Republic Stee) Reynolds Metal

Sears, Roebuck & Co. sheR C Co... Saint Reg. Paper Binelate Ou

Bocony Mollo Bolar Aircraft

Standard Oil of Cal Standard Oil of Ind.

201

71'

75

New York Cotton Market

New York, Oct. 23. Colton futures registered fluctuations in another quiet session today. Closing prices ruled aft one lo up one polut. The market opened off two to up one point. New Oricans closed off one to up one point.

The continued heavy rate of entries under the Government loan programme, and a forccust 14 for showery weather, which would limpede harvesting and dimming operations, combined to

mub selling pressure,

Chemical F

Dividers

Sh

Breyfus Fund Faton & 11. Da Exton & II: Stock'

Instii Inettes Iny Tim Keystone Cut Da Mrs Jay Tr Mam Growli Nat Sie flowth Smiddler Fe New Telev F Fd Value Line Fo Wellington Fu"

12.50

continued thoir

electricals eased. Courtaulds,

in a mixed textile section,

closed alightly lower on an un- changed interim dividend.

Gold hares improved, but base metais

coppers and other

German bonds were Arm in

quiet foreign

Dollar stocks were adjusted lower, and oils were narrowly mixed.-U.P.J.

CONSOLIDATED GOLD FIELDS

of

London, Oct. 23. Consolidated Gold Flolde

Bouth Africa has announced n final dividend for the year onded June 30, 1958 of $148, making 440 per share agrinet | 4/- per share previously. Subject to audit, profit of the wholly owned subsidiary new wa Consolidated Gold Fielde

£2,246,293 against £2,788,207 previously before taxation ste. The amount charged spalmet in-

vestments

*

and exploration.

reserve for Adjustment in values of certain Investments. Including exploration invest- ments, was £1,040,800 against £648,185 previously.

The final dividend will be pay-

able on December 18.

The directors are considering the desirability of sub-

£1 or dividing the existing dinary shares Into four sharea of 8/. eachChina Mail Special.

P.OBIE&A

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. CO.

Leaves Londpu

Sailed

Due Hongkong

Fert

4th November

11th November

19

04

67

น

34

看着

GO

B

100%

Souther Co. (The)

Southern National Ga Southern Railway Com Standard Brande

4014

Conversely, buying interest slackened because of the slow

of development

buying upsurge in textiles, and a gow- Ing belief that the next govern- ment crop estimate will show on increase.

Outwards

CO

13

5116

551%

LOAN ENTRIES

*

072

week

62.26

Steep Rock Toronto Exge.j 147.2 Sterling Drug Co.

ja

15

106,00

Studebaker-Packare Corp,

13

"CANTON"

"CHUBAN"

"SALMARA"

"CONFU"

"SINGAPORE"

Homewards

6th October

Busin

15th October

10 October

17th November

2 November

86.48

191.53

Swift & Co.

"SOMALI"'*

"CANTON"

"CHUBAN"

"CORKU"

24th October

24th October

Bib November

Fiat November

10th November

24th November

Cils December 22nd Decaraber

10th January

540.72 Standard Oil of NJ.

Stokely-Van Camy.

Sunshine Mining

Texao Co.

Textron Ing.

Tide Water Amt. Dil

Time Inc..........

20%-Cont. Warrante

473

Twentieth Century Fox Fini

Union Carbide

Loan entries for the ended October 17 totalled 25.-

4713 balen, the highest for any

week the

Leason. However,

the increase was expected and arently discounted market- wine, traders said,

The net stock of 1958 crop? colton under loun amounts to

1,234,031 bales, or more th

1 three times the 400,892 bales onder the loan shelter at this time last season,

The Liverpool market today closed up liree to of 20 Eng-

1 points and 808 10 899 American points under New York futuruS.

Volume Open interest

2,700 2,000

102,000

3.700 220,800

41

28

Allis Chalmers --

Union Oll of Cal. .....

American Airline

241

Union Pacife Rellway

American Cable & Radio corp.

дь

tonited Aircraft

United Gas Corp.

American Cyanainid Cu.

Anier, & Forgn. Power

12/2

541 U.S. Foll "B

U.S. Gypsum

44122

US. Line Co.

45%

ALEX

45%

+

Leaves Hongkong bur London

**SALMANA" † 7th December

Via S'pore, Penang, Colombo, Bombay, Aden a PL. Özie. "BOMALI" calls H'pore, 2. B'Wetų, Penang, Aden, P. said,

Havre, London, Hamburg, Rotterdam & Antwerp. BALMARA calia Bejing, S'pore, PL. Bwettenham, Adeo, FL Said, London, Hamburg, Botterdam & Antwerp.

BAZ

1450

Month

Warner Bros.

Oct.

Westinghouse Air Brake

Dec.

001.

Westinghouse Electric

601

Mar.

60%

Western Union Tel. Co.

2015 Dey

4,100

273,100

Woet Va. Pulp & Paper Woolworth

414

July

4,00

173,000

409%

Oct

2,200 202,200

145

U.P.1.

Dee.

1314

MAR. Tola)

300

11,000 18,100 1,313,100 bales

-UP.I.

133,000

"BANTHIA"

COMMODITY

FOREIGN EXCHANGE

NEW YORK

Closing rates were:

Carında

England Melal

38.day': 90-days

Australa New Zealand South Africa Swizerland Argentina

Brazi

Uruguay

Dibers

changed.

LONDON

Closing rates were:

New York

Montrest

Brancis Copertingen Frankfurt 1.onn

Oslo

Atocklaufm

Mixed Contract

Oct/Nov 24.29; Dec/Jats: 23.97; July/Aug: 22K; OcyNov: 2.43.

Mar/Apr: 23 20:

May/June! PLANT

SAO PAULO

All prices unquoted.

In the

the

average price of one ineb cotton

PRICES

METALS

NEW YORK

Prices of metals

closed to. day in cents per 1h, as follows:

United States,

1.03 6/18

2001

at 14 designated spot markets was 34.74 cenis.

Lond

Oct.

2.001

Zine

2.

2,2416

Total sales were 87,702 bales. -U.P.I.

Dec. Oct. Doc.

2.01%

Tia

2331

Cupper Oct. Dec

Des.

0101

LONDON

0071

1125

2.80 11/10-2.80 3/18 2.71 12/17-2.71 16/10 130.37 1/2-139.12 1/2

10.34 5/0-10.34 5/3 11.08 3/4-11.69 28.10:00.20 30-20:50 1/4 14.48 1/4-14.40 1/2 12.21 7/8-12.52.1/8

Zurich

Others unchanged,

UP.I.

COTTON

NEW YORK

Prices of cotton futures closed today as follows:

Spot: 38.25 nom;Dec: 36.13: Mar: 30,04; May: 30.37: July: 34.42; Oct: 300: Dec: 31.88: Mar: 33.

NEW ORLEANH

Prices of cotton futures closed today as follows:

Spot: 25.75: Dee: 39.13; Mar: 30.63; May: 2021 July: 40 Der: Bić: 31.85; MET: 42,90

0;

in

LIVERPOOL

tulure Collon

closing, penge per lb. were as follows: American Contract

Oct/Nov: 4.05; Destani MP3: JURY/ANE: ELT: Det/Row: "££39.

RUBBER

Rex

NEW YORK

rubber futures today

closed five to 15 points lower

with sales of 63 contracts.

Closing prices:

10.856

12.056

12.13b

10.75b

29.35h

29.505

{1.50b

4.50b

Prices of metals closed today

in sterung per long ton

follows:

T:n

pot

3-month Copper spot

Nov: 31 Jan: 31: Mar: 30,90: Boy: 30 July: 30.05; Sept: 30.03: Zine NOVA WOLD

LONDON

The rubber måket

was dull

with spot quoted at 25% pence

Pricus:

per lb.

No. 1 Han spot

253-20

Settlement hotse tarmi

Nov. Dec.

231-50

20-201

2014-201

April/June

2014-20

July/9cpt

Oct/Dec.

General markets, cit basis,

Oct., Nav. and Dec.

Jan/blar.

SINGAPORE

Am. Gas & Electric A. Home Prod Am. Madi & 'dry American Metal American Smelting Am. Sugar Ref. American Tel & Tel Amarican Tab. "E" Anaconda Copper Arinco Strel Annour

Atlas Cons. Mising Baldwin-Lima-Ham.

Baltimore & Ohio

Beneficial Finance

Dendix Aviation Corp. Benguet Cons.

Bethlehem Steel

Boeing Airplane

Borden (The

O

Burroughs Add_Machine

Col. Jacking Corp. Campbell Soup Co.

Canadian Faclic R.

Case (J. 1.1.ca,

Cat. Tractor

Dejanum Corp.

C. 3. T. Shanelai Corp.

Chrysler Motor..... Cluelt Peabody

Colgate-Palmolive Co.

Colombian Carbon Co.

119 US Rubber

U.S. Smelting

US Steel

49 US. Steel 7 F.C. PT

as

mipers Gellerr

747

Commercial Credit

743

Commonweallis leg.

3J

244

3-mon

237

Consolidated. Edison

3015

Lead

2rt halt

Continental Oll of Del.

5014

Bud half

του

Crown Zellerbach

2nd hall

7234

Cuban-Amer. Sugar

2nd halt. Jan.

713

Diamond Alkoll

Diamond Match Co.

Dow Chemient

19032

30

12734

1021

SUGAR

New York, Oct. 23. 2014-20-1 World No. 4 sugar futures 20%-20% closed unchanged to six points ports:

higher with sales or 149 con- 1034-36

tracts.

The market opened lower in with overseas and sympathy ruled quietly steady fluctuating within narrow limits.

In the afternoon the market was rather active with not much movement in prices. Futures:

006-009% Dec, 20-09

Domestic No. 8 sugar futures closed unchanged to two points lower with rates of 31.confructs.

Contract No. 4 (world)

Jan: 137:

Douglas Aircraft

Dupont de Nemours

Eastern Airline

Eastman Kodak

El Paso National Gas Family Finance Corp.

Firestone Tyre & Hubber

Ford Motor ........ General Dynamics General Electric General Foods General Motors Gen, Pub, ul. den. Tyre & Rubber Getty Oil... Glidden Co Goodrich (B. F.) Co. Goodyear Tyra Grumman Aircraft

Gulf Ort Corp. Heyden Newport Homertake Mining Cu. Ingersoll-Rand

Inland Steel Cu.

Interchemical Corp. ........ Mar: 34: May: 341; in Businem Mixchines July: 342; Sept: 341: Del: 343 mit Harvester Ept-cents per ib. fob Cuba); 3.40. International Nickel

Open hietest: 6,614 contracts. International Paver

Int'l Tel & Tel Contract No. 8 (domestia)

John-Manville Co. Kalmar Industry mudan Nov;_8.09; Mar: 0.10; May: 5.75; Karmas C. Power & Light BOY+BOY JAY: BA5; Bant: #1: Spot (cants Campacort Copper

Linnett Meyers Tob. Co. 16-791 | per ib. cif NY ax-dytyjs

Open interest: "***" contrapla-Lockheed Aurorah VP1.

Legowe Incorp,

No. 1 rubber per lb. Nov, No. a subber per . Nov. No. 3 rubber per 15. Nov. No, & rubler Der ib. Nov. BA Prot, rubber unbelød Dannii crepa

電

Australian Loan

Canberra, Oct. 23.

$25- Australia kus raised a million loan on the New York market, Prime Minister Robert G. Menzies announced today.

The loan was underwritten by the Morgan Stanley Co., for TU investory. A previous loan of same amount was raised rarlier this year along with a $15 million sterling loan raised in

the

LondonUP.I.

Courtaulds Dividend

*

T

BRITISH INDIA S.N. CO., LTD.

in Port sails 7th Nov. "FULTALA" due 26th Oct. safik 27th Oct

"ORDIA"

Aue 26th Oct.

an-

London, Oct. 23. Courtaulds, Limited hos 'nounced an interim dividend of three per cent, less tax, which wan the same as previously.-- China Mail Special.

OPPORTUNITIES

IN CANADA

Our facilities can be of valuable assistance to those interested in the economic development of Canada and of benefit to investors in selecting suitable Investment through which to participate in the assured growth of this country.

Enquiries invited

PEARL INVESTMENT MANAGERS LTD. Tel. 28738 502, Bank of Fast Aaja Building.

from Calcutta, Rangdon, Fenapa & Singapore for Japan

Егора Јарад

For Bingapore, Penang, Rangoon, Calcutta Chitingcog

Chitta-

from Calcutta, gong, Penang & S'pore

amus 27th Oct. For Japan

P. & O./B. 1. JOINT SERVICE

"PALIKONDA" due 30th Oct. from Japan

a 3 Del for Singapore, Pasang

Cochlo, Katechi

Bombay

*

&

"OEMARA" dus 2th Nov.

13

from Jope♫

02: Nuv. for Singapore, Bunder, Abbis, Kuwali Bawah. Khorrahalır & Karachi

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

"NANKIN**

due 11th Nov, ps 1201 Nov.

"EASTERN" due 12th Nov.

KAUR ICU Nov.

from Japan, N. Chlpa for Labuan, Sandaka)1 Brisbane, Sydney, Mai-

boure.

from Australia for Japan

All vessels have liberty to call at any ports o or off the route & the route à sailings are subjest to change or amatőrgent, with or without notice.

For full particulars apply to : MACKINNON. MACKENZIE & 60. OF HONG KONG LID. Telephone Nos: 27721-4;

2