1959-06-19 — Page 9

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THE CHINA MAIL,

FRIDAY, JUNE 19, 1959.

WEEKLY REPORT ON THE HONGKONG

STOCK EXCHANGE

Pago 9

London

MORE INTEREST ON MARKET Closes

Rubber Trust In Sudden Heavy Demand

By A SPECIAL CORRESPONDENT

HK Bank Lombard Union

Wheelock IK Wharf HR Daoks Taikoo Docks

Provident

BK Hotels

Market At A Glance * Problem

steady

متلب

548

Expansion

* The Share Market At

Up or

Dividend

May 21 May 28

BOS

June 4

100

800

June. 11 855

June 18

Down

& Bonus

BDO

+335

2014bxd

20140

31b

+604

་

Yield (%) 5.4 0.5

701b

714b

+11

83.40

4.75

6.95

5.90

B.83

5.00

. 6.80

750

13.9

0031

0144

91b

911 b

+500

8.7

4071

4536

4214

43m

441%

+$1.00

312

334xd

3868

-$1

$2.80.

8.7

11.70m

11.80

11,80

11.60m

11.80m

+200

9.3

27.00

27.80

26.30

26.50

27.30

+80c

$2.50

9.1

HK Landa

3314

$314

33424

stendy

52.40

7.25

UK Really

1.025

1.50

1.00

1.55

100

9.3

more interest was

HK Trans

29.50

28.00

28.20

+200

7.1

Star Ferry.

110

115b

117

116

112b

Yaumatie

100

100b

106

100

109

+13

Ch Light

18.20

17.00

$1.10

0.1

better

27.70

21.80

27.50

27.30

27.70

+400

31.90

1.9

HK Telephole

201

20.00

26,30

20.30

20.00

j.200

$1.75

6.5

3224

3254

+$2

53.26

8.0

10.30

10.20

16.10

16.30

+200-

$1.625

14.809

14.80%

14,300

14b

-300

7.2

17,50

17.800

17.70

17.90%

17.00

300

$1.50

6.5

5.800

5.95D

8.851

6.90%

8,00%

slendy

4.38

4.60%

4.30

4.376*

4.30a

-7440

200

5.8

11.80

11.20m

12.75err

12.00h

12.60b

steady

800

0.3

5.10

6.05

5.05

4.075

5.05

+70

600

11.0

8.70

8.55

0.10

8.35xd

+50

100

8.4

The Hongkong Stock Exchange brightened

up this week as shown on the market and the majority of

had gains shares demand.

HONGKONG

STOCK EXCHANGE

Our Own Correspondent:

Business done on the Hong

Vile

kong Stock Exchange

There was a lot of money around and popular shares firmed with а number substantial in- tacking on crenses.

Highlight of the week was the sudden demand for Rubber Trust, which rose from $2.275 to close at $3.03 yesterday, a 77,1%-cent gain in a week. The reson for this share's sudden popularity is rumour going rround Ice House Street that the 2 rubber company had sold

estate in Malaya.

steady

Hotels were under pressure all week and they climbed back to $27.30 this werkt

morning uniounted approxi- after falling from their post-

talely $97,000. No quota- rions and the morning's transac- Ainus:

Kharri Hugera Netters Bales

מאן

BANKS

1K Hank

BUT

2007!

Kart Anda

100

INSURANCES

Uwan

800

3200

Lomtato

5 a 59

K. Wharf.

SHIPPING

Wheelock

DOCKS, ETC

Back 441, 423

Tryktet 1989 1190

Taikeo

JK Hotel 27.30 27 1200

312

LAND, ETC.

KISA

2004

3214

IK Land. Humpareya Healty

1000

100

27.4

331,

13:30 10.10

153 1.675 0000 t 1.57

RUDDER Amalg

►

UTILITIES

Tram

2.49 2.45 11000 + 2.65 SDUE

- 28.43 20.00

Star Ferry

Youmay

1500 +

20120

160 100

100 7

1000 L

Eletric 27.30 27.00 Telephone 20.TU 20.93

INDUSTRIALS

Cement

STORES.

מטן

$7.00

war bigh of $27.00 to $20.30 1wo weeks ago.

Popular Stock

Blanks bordened in sympathy with their London Registers, which are now up to £52. This chare made steady upward pro- gress during the week and elosed 01 $800, «. $35 gain. Unions also gained $1 on the week.

The popular lock in utilities ait had useful gains during the week with Yaumatis closing at $109, a 83 rise. There is talk in lee House Street that the com pany may soon be issuing bonus shores,

Electrics

G... Coment

A. 8. Watson

Dalry Farm

Lane Crawford

Int'l Investment Alled

HK & FE Inv

Textile Corp Nanyang

THE TALLY: Last wock, 7 highor, 5 steady, 14 lower,

This wook, 16 higher, 4 stoady, 6 lower.

Heavy Profit-Taking On

New York, June 18.

The stock market ran into heavy profit-taking in

the last half hour which sharply pared gains ·

all along the line. than yesterday.

Trading was more active

Dow-Jones closing averages

were:

30 Indrala

5 stuks 40 bon 1s Comm, future price index

The market was rolling along ( until the inte realising of plo- most of the day In high gear

ts set in. Some issue Were hard hit.

20 culls Du Pont closed off arounit 15 utilitie tive points, Lillon tumbled Zenith four points, around nosedived around three, and Texas Instruments

was down around Ave.

Despite the Inte sell-off, the market managed to fish generally firm.

Closing Prices

104.18

2011

Wall Street Yesterday

231 5 C. 1. T. Financial Corp. ....

Externational Paper

83.14

Chrysler Motors

| Int'l Tel & Tel

374

13.50

Cluet Peabody-

Juha-Manville Co.

Colgate-Palmolive

Katser Industry

171%

Polinian Carbon Co.

472

Kansas C, Power & Light

Commercial Credit

1214

Kennecott Copper

100

Consolidated Faison

Kimberly Clark

$44

Continental Oll of Del

Liggett Mayers Tob. Co.

0712

Crane Co******

Ly Tul

Alttibi wir & Paper

Crown Zellerbach

Lifton Ind

Amen Inc. Acy.

Cuban Amer. Sugar

2049 Lockheed Alrerast

เ

Algoma Steel Corp.

Inmond Alkel

Allied Chemical

113

Diamond Gard

suw hew

highs

Alled Mills Ine.

Tuminion Storen

7814

Alis Qalmers

305

Fouglas Aircraft

Am. Brake Shoe

Dow Chemicals ...

Cements, which are yielding Gains far outnumbered losses, just under 10 per cent, continued It was the first session

exceeding new lows,

The rails had gains running | American Airline in point

Anetican Cysjamid Cu in Some of the

lenders on the vastly improvist Amer. & Fargh. Power

Ip the trame picture. Guins

a point or chemicals also ran

the leaders n.ore in some of Aulus were tructionally higher,

I rise and the last able yester-while which 2.45

day was at $33, u gain of $2. This is the highest this share has bren since 1957 when it hit a Ligh of $39. Some people think that the company will do very 20,00 well this year especially with 1180 2

the start of the building of the

Lantio 33. Shek Pikt dum on

this Fear.

Turnover for the week was up 1700 to 24.95 million compared with

$3.57 million last week.

S dana on

Dalry 18.20 10.40 2400 Watxm.. 14.10 14.40 Lane Craw, 1715 17.70

COTTONS

Textiles...

Nanyang

20.30

0.10

0.35

270

G.ED 8.20 4090

5.15 1 300

0.40 85 1000 1

13 13.30

5.90

1000 G

3 70

MISCELLANEOUS

Vium

INVESTMENTS"

int. tuvest,

Allied

.... 10.00

UK'S PRICE

INDEX DECLINES

London, June 18. Britain's official index of ro- tail prices doclined last month for the first time since last August, accord- ing to Ministry of Labour figures published, tonight. It stood at 100 points on Mty 12 (costs for January, 1956, are - used as the 100 levél).

at 110 The gure had stooct since

LAKL last November. August It dropped to 100.

The fall during May Was reduc- mainly due to seasonal tions in coal and milk prices. Reuter.

Chicago Grain

New York, Juno 18.

All prices in cents per bushel,

Wheat No. 2, red

Market Diary

Monday:

Here is a market diary of the weck: Friday:

Intercal centred chielly 021 HK Banks and Unions. T/Q: $871,000. The market showed signs of strengthen- ing. Banks were tirmer but The highlight uf the day was the rise in Cements. $071,000.

Tutaday:

Hales well main- tained. Uulties and cements in demand and Banks harden-

I'd In sympathy with London. T/O; $1,273,000, Wednesday: Firm conditions

Thursday:

provalled. Banks, Hotels and Dairies improved. Interest

Cemeals

was

ns1 maintainedt,

T/O: $729,000. Good demand for popular shares at Arm or Improved prices. Banks con tinued advance and rubber shares found a strong de- mand, particularly Rubber Trust. TVO: $1,406.000.

BUS INVESTMENT

QUOTATIONS

sre

The following States investment quotations in American dollars. The buyer's quotations include commission:

Mutual Funds.

Amilated

United

Spot

100-127 nom.

July

|_ 107(11),

sept

Dec.

far. May

105111.) 18GI

1952-7

FOUTL

Corn No. 2, yellow.

Spot

July

Supt.

Dec.

May.

115 11024

Moy

nye

July

125

6ept

12336-38

Sellers BuyCIJ

Oats

July

03%

4.50

Sept.

Atom Dey Mus

4.47

Boybeans, No. %, yellow

Spot

July

223 2231-4 -991334

Axe Hound

D Bullock Quamin Geza, Fa

9.47

Nov

Mar

Barley

Spot

New York flour

200 lb. sack

2111-31031 217

120-136

13.10

-UTI

Canadian Int Growth

Chemical Fund

Comwith Stock

Dividend ...

---Sept."

Jan.

Exchange Rates

Canaan-Frenzy 28.34-10.01

Drvykus Fund

Zather & 11 Block

Electronics Inv Found Mud Pund

kastis Found Inedit Growth inet Income Invest. Tr Boron Keystone Cut S

Business was done in the Inestone Citade unofficial oxchange market (this - Maja In TV. morging, at the following ratec | Mass Growth

5.75 Net See Ber drowth UB. dollars (per 33) jane Starling moles (per £1] .... 18.00 Bedder St & ci ........ Indonesian rupiah (per mica, (pur, 100)- Singapore (Stra}t@)

105 Vadira Lana pund

Tel Wellington Fund

10.30

9.20 10.17 11.62

Major Group

Of all the major groups, the dils made the worst showing. over 錢 reflecting cancern weakening price structure In the face of high inventories anti cut In Texas oil al- Jowaners Losses ran past point.

Today's volume was 3,150,000

shares.

• Or a total 1,205 shares traded, 506 were higher and 398 lower. American Exchange volume was 1,000,000 shares,

Bonds volume amounted to $5,200,000.

Am. Gus & Electric A Home Prod. Am. Macht & dry American Metat Am. Natural Gas An,erican Smelting Am. Sugar Rel. American Te! & Tel American E, "B"

Yesterday's Closing

30% Bugent de Nemcun

3444

Eastern AITAK

14 Faustman

El Paso National Gos

Loews Inco79. ........

Lone Star Dement Co. Lowenstein & Sons

48% McDermott J. Ray

M McDonnell Atreráci

New York Centrat

Norande Mines Ltd.

Without Inflation

By SYDNEY S. GAMPELL

London, June 18.

Higher

London, June 18, The stock market rallied to- day and cloood irregular ly higher but trading continued light.

Gilt-edged

securities closed

with an all-around advance.

Industrials were

mostly firm

led by American favourites such

45 [CI, Dunlops,

and Unilever,

Courtaulds Stores And

browerles were Arm

but

engineering, electrical and motor Issues were mixed.

Dollar

stocka

reflecting the rally

recovered Wall Street. Grock bonds recouped early falls in' the foreign bonds

Once again, a correction 'market.

on Wall Street, after Gold stocks cared. Coppers

a rise which in pre-were dull,

vious times would

Oils were fractionally higher.

have required a full-UPL

secondary correction Closing Prices

of about 15 per cent, has been held to about four per cent.

Giltedged Bonda ONUN Transport 3%, 1970/30 207-13/16.

Consols 21y/-—¢51-10/15, Consola 4 £151. Conversion Lean 317 190

Funding Lost - 3%. 1930/09

Funding Stock 3, 1999/200→→→

LOAR $7% Funding

1963/80---- Ravine 3, 1985/65-291%. Bavings 3, 190W30-£8. Bavings 37, 1965/75-78%

20-1/10

With so much latent in- 265-15/10 stitutional and other sup-200-5/10 port, and with the revolution in investment attitudes, the market speaks for Itself. However, after a technical setback and the technical rally from the setback, the coming trend remains to be

seen.

With Wall Street a bit off ils top and with the slower rate of American gold joses, the Night out of

ENGK Barclay's Bank "A" Ltd ord-ECE

Chartered Bank-4 d. Hongkong-£53!1.

Ingranes

Etm/rance

Union

Cablon- 24-1/10.

Aircraft and Maplers Britis Motor Corp Ord--13s

Ford Motor Co—B» Vid.

dollar creditorships 18 || 10750. not at the mement a stampede, The difficulties of the United States bond and money markets may have been exaggerated.

Concern

Concern has been expressed over where all the needed money 206 can be found to flannce record construction outlays, Govern- men! deficits and business re- covery. In fact, with business so liquid and the Federal bud-

get so much improved, them might be concern over where 66 all the available money- côn

Breweries

Distillery Co-10 9.

Bulidlas and Material Asociated Portland Cement-G Finchin Johnson Associates Ord 224 0

"Coal, Stevi and Engineering Babcock & Wilcox d-400 Bd. Vickers Ltd 30% 10.

Food and Tobacc British American Tob. Co., Ltd

31.

Imperial Tobacco Co., Lida

Siscalíanpota

British Oxygen Ltd. Ord-tos DJ. Canadian Paolfie Riy-43215. Dunlop Rubber Co-la efað. Hongkong Chins Gr. Imperial Chemical--ala 3d. Lyons & Coils. Untiever - Dd oor.

Faber

Bowater

A reasonable appraisei might be that the dollar is overvalued but

The | 10154. not critically 10. Americans have been displaying | 50% confidence in their system and

in their business prospects.

4214

3016

Mesabi Iron Cap

37L

say

Marrot Men

24015

0472

Miselen Doveivo:ment

324

Munsanto Chemical Co

1674

Family Finance Corp.

Montgomery Ward

Firestone Tyre & Rubber

142

25%

First Nat. Cuy Bank

274; National Co Reg. "A

National Biscuit Co.

581)

Ford Motor Co. of Cana.

102

453) Ford Motor

National Lead

Natrumal Dairy Prod.

find uses.

деля

Georgia Pacile

$916

National Steel Oxu.

2731

General Dynamics

023%

General Electric

buk

Anrenda Copper Anneo Steel Armour

932 General Foods

Norfolk & Western Ity.

DOR

General Motor

Gen. Pub.

North Amer. Aviation Northwest Airlines (Com)

On Mathieson

Atlas L'ON, SUNTAR Baldwin-Lima-Jan

Gen. Tyre & Rubber

Ole Elevators

15:4

YOU Ú

Halore & Ohio

44% Glidden Co.

Owen-tilinols Glam

4735

51% Goodrich (B. F.) Co.

Pacife Cas 4 Пес.

2şap | Guntyear Tyre

Pan American Airways

เพ

Dendix Aviation Corp.

Grumman Alteraft

Paramount Pictures

Gutt 0

1107

Parke Davi Co.

Pennor 3. C. Co.

1129

Hairmuat Organ

Dering Aleplane

arden The Co.

Heyden Newport Corp.

Penn. Salt Co.

Tumestake Mining Cloc

Plus Morris

Burghs Add Marine

Hussnian Relrig.

Piney Bowes

371

of the steel strike,

17!

Idaho Power

Procter & Gamble Co.

Calf Parking Corp. Cana, Dk. of Comma

Imperial u

401

1'ilters Pinte Glam

7854

Inger.oll-Rard

DAT

Publieker Industrica

Pure Ol......

4114

Luterchemical Corp.

221

Int Business Machines

Raytheon

Pasig 37

talt Harvester Kä

Republic Steel

Informational Nickel

Heynold Metal

Royal Bank of Canada

8521

Seam Rostuck & Co.

Shell Oil Co,

Safeway Sloten ..

Sant Reg. Paper

Bank of Montreal Heneficial Finance

Benguet Cook.

Bethlehem Sivel

Bit Amer. Off

Campbell Soup Ca Canadian Pacific 11. Case 13, 1.) Co. Cat. Tractor Celanese Corp.

and Steel Co

COMMODITY PRICES

SUGAR

NEW YORK

All prices in cents per b

SAO PAULO

All unquoted

Average price in US. at 14

designated spol

cents. Tofal

1ales.-UP).

markets: 34.49 saics: 11,203

RUBBER

METALS

LONDON

Closing pricca, ali in steriing per lont ton; unofficial ofter- noon session;

dip Corporation

Schenley Ine.

Seat Paper

Sinclair Of

Sinith, Cine & French

Hurony Mobil Oй Solar Aircraft

South Puerto Rico Sugar Southern Co. (The) Southern National Gas Southern Railway (Co

Standard Oil of Ind. Standard Off of N.. Sleep Rock

Pentar Ara Cô

| Stokely-Van · Comp. Blane & Webster Studebaker-Packard Sunshine Mining Swift Co,

| Texre Co.

Texiron Inc.

Thjokai Chem.

Tide Water Az. dil

Buyers Sellers Inc.

Tri-Cont. Warrants

United Aircraft

225 United Fruit

The buoyancy creates danger at over-confidence

but

things

30% should go well enough-barring

BOITIU really disconcerting development such as avoidance

Renewal of the American gold

Paper

Corp

Ord---$18

Radio and Electrical Associated Eletrical-09%. Electrical & Musical-026 444.

Electric 1 d. General Electrio-3ls $3.

@hipping Indo-China Gieśṁ Nay. Co. det

PO Steam Navigation def ord

Stores

Great Universal Stores "A"-425. Marke & Donocer Lld-gát 30, Woolworth F. W. & Co-59, d. Taxtiina

Courtaulde. 07.

Anglo-American

Coats J † Lid-255 740. outflow with a loce of $50

million on June 4 and 5 after a complele lui since May 15-

Corp of South

Ari Woldfields of South Africa

15 may actually help the dollar by

discountenancing the rumours 7.

with

that it needs forbearance or a gentlemen's agrezmont forelyn Central Banks,

Recipient

Соли

Cone. Zine Corp. Ord-03) 14. De Beers delmilla (ed. Free State Development & Invent- ment--11 3.

Hongkong Tin

10%%%d.

Bouthern Kinia Cone Lid-23 Union Corp-4 d. WELL

Driefontein Goldalaing- West Rand Con263 Bd.

The Bank of England, which 7 routinely, converts into gold, did not happen to be the miatt re- 10. cipient [XT dollars. Nobody wruts ta goad the Americans into liberal policies which, though they might run the dol 50nr itself in the end, could ruln

many other things frst.

751

空

As the bank says, it to have the same problems is a sign of unity

North America

and

British Borneo Petroleum Bynd!- cl-2 6d.

British Patrols:

Butmah-61

Co., Ltd-00

Royal Dutch Petroleum-13.

Shell Transport & Trading—133a t.Reuter.

Wester Europe have rarely Agreed Merchant.

*been so

119 united today in

24% sharing the common problem of

05% maintaining expansion without relapsing into Inflation-China

Contract No. 4 (world) July Sejl.

2.81

3.10

Tin

Jan.

2.98

Spot

790

Twentieth Century Fax Film

Mar.

2.00

Carbide

2012

Mali. Special.

MEY

3.07

NEW YORK

2-month

700

701

Cupper

1 of Cal.

July

3.4

Είναι

20314

| Unlum Puuille Hallway

Sept.

3.00

Spot-(t,o.b. Cuba)

7.78

Open Interest: 7.084.contracts.

Rex rubber futures closing prices, all in cents per lb

3-monit

Lead Lut Jiait

June

007%

fient

* Contruct No. 6 (domestic)

July

Zins in hul?"

Bent.

33.50

June

July

6.23

Ecpt

Nov

212.00

Dept..

3,00

Mon.

Nov

Mar Epot-(Ct, NY, ex-duty) 5,00 Cipen interest: 4,100 contmets.

5.60

Mar.

3000

May

22.50

July

340

-UPI.

COTTON

NEW YORK

All prices in cents per lb.: Spot: 30.05 nom: July: 34,76; Oet: 34.70: Dec: 3342-43; Mar: 37.34 May: July: 213 Oct: 30353; Deo!

30.26.

NEW ORLEANS

All prices in conta per lb.: Apot 24.10 July: 3.73; Oct: 33,43; Deg: 38,40; Mari" 29.70; "July: 32.53) Deti 30.20: Dec: 3022.

LIVERPOOL

All prices in ponce per Ibi American Contract

July/Aug1 2530, Oct/Nov:"2130: Dec/Jass: #130 Max/Apel: 21.00 May/Juner: 9130. - hiixed Contract

July/Aug: 23.10 Dec/ba?, MA; May/June) x130.

Oct/Nov 11.00, Mar2Apr: 3112:

BINGAPORE

All prices in Stralis cents per ib. Lol, Molayan ports;

DGT6-9211

0731-074

131-00

No. 1 July

Aug

No. 2 July

No. 3

No. 4

#pot robber unbaien

Elanket crepa

No. 1 pela crepo

LONDON

20-2534

R-00 03.05 101-1013

All prices in, pence per 1b.:

No. 1 Rawpb-2016 Settlement hours terme

July/Sept.

Jated Mar.

OutDec

April/June

July

General marketa, c.lf, basće ports:

Book Tatske prepot

Thin July .....

AMSTERDAM

All santimangod-UPL

United Gas Corp.

71. Folt "

"D'S. GYDINIAT

TAKU. 5. Line Co.

-UP).

FORDION BACHANGE

NEW YORK

Closing rates; England official

10-days

90-days

Australia New Zealand

R$1 9/22

2.01 1/4

151 17

205 1/6

8.00 5/16

281 11/10

South Africa India Pakistan

JILA

2113

LONDON

U.S. Rubber

US. Smelli

U.B. Steel.

1.6. Steel 1 P.C. FF Warner tres.

Waukesia Mol

Westinghouro Ale Broke Wostinghouse Electric Western Union Tel, Co. West Va. Palp & Tapes Winn-Dixie Stores Woolwort (K. W.) Zenith Radio

Aluminium Prices

Oakland, June 18. Increase in aluminium prices is inevitable" later the 20-2016 220346-2014 Closing rates: *

year it the impending labour New-York ..... -231-203,

2.At 1/6-2.01 3/3 2.00 11/10-2.00 15/1n contract negotiations by major Montreal Amsterdam ....

119 aluminium producers result Brumels

in Increased wages, Mr D. A. Copenhagen...

Ithoados, vice-president and Kaleer general manager of Aluminium & Chemical Cor- poration, said. — China Mal§. Special

20-084

Blockholm MUKA ZUTI

10.00 3/3-10/01 160.00-140.35

19:20 0/1-19:35 7/3 30.01-30.03 1/ -1878 1/2-13.49 1/8 14.00 1/9-14.58 8/1 3765 1/2-1760 22.12-13.42 174 ·

-UP)

Rates

Swiss Franes, Maximum

Selling. 74.

U.S. INVESTMENT

OPPORTUNITIES OVERSEAS

New York, June 18. New US government incentives and "a more friendly foreign attitude" toward; private capital ure ex- pected to open up $25 billion worth of investment opportunity a year for American capital in under- developed nations, Chemical Week Magazine said on Wednesday.

The trade many nalet thaited by local conditions, the new U.S. guvernicht inect-megazine warned.

Invest- lives, either approved or under It tuld that foreign

"provided |ments active consideration,

totalling $40 bjilton för tax deferrals and ther con- | annually will be needed to

_the_living_standieda cessions toward income earned provont

by U.8. tax-payers overeens;--" "se unsterdersloped nations from

The article also noted that | falling further behind theed of many countries, such, as India, | the. West.

have reduced taxes on foreign ) : Internal and foreign invest- corporato earnings.

menis in those areas currently The brighter Investment eule (sko zanmijug at... only $15 billion look, however, often la temper-1's year?...UPT;

1959-06-19 — Page 9

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