Page
· THE CHINA MAIL, FRIDAY, SEPTEMBER 25, 1959.
WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE
MARKET REMAINS ACTIVE
Substantial Gains In Most Sections
The market continued bullish during the week and closed yesterday on a very firm noto with good improvements regis- tered in most sections.
HONGKONG STOCK EXCHANGE
The main feature of the week was the thurge of Kowloon Dock and Watson shares boll showing substantial gains.
There was speculation that the rise In Kowloon Dock shores was the result of land deal i haging been put through.
The cotton seetion continued to improve and was extremely active throughout the week. The cubber scetína war netive but
with the movement,
With Bar Electricity Commis-
sion surive bath the power einponies turned slightly sour. china ghts were Transacted between the $18.10 and $18.30
$24 20--the only two dull spots
Business done on the Hung-range and Hongkong Electries kong Stock Exchange this roumed between $24.10 and mornin amounted to appro- ximately 5872.000. Non quote fions and the mordig's tran- suctions;
kates Buyers Sellers SALO BANKS
JIK Bank.
INSURANCES
2
Unon
Lombard 40 41
Ta
1000 1300
105 17 1000+
SHOPPING
Watert
15.10
Wlaneveke
0: .55
ROCKS, ETC.
K. Whart
President
13.00 11.90
Talkin
13 33
LAND, ETC.
on the murket.
Telephones
Begit Transacted Li
well
levels.
DIS
شقونه
Dock.. AR · 250-á $1
K Bar. 29.40
اله الا الله
Ja
500 C
SAD N
JK Land
3652
Humphrey
17.44
13.50
10000 16
Malty
LUA%
1742 1.82%
1.63
RUNDEN"
Amalg
3.475
$1000
Trim....
4%
4.30
A.
3.15
Summala
if J
20
501
Yuumall..
1 IM
123
2001
2440
24 21.10
468
50 1000
1043
30
UTILITIES Trann
4. Light 10.40 18,40
Sturno E tr.co Telephone
2.00
ISDUSTRIAIS
L'esurat.
Hi الله الله
200
STONES, EF. Daly 13.80 111.90 0211
Watson 195,000
201
rul Trams were after and were
amkh
bigber
Waendels and Hotels also
showed good improvement and were in continued de:nand.
Unions Declare 2s Interim
The Director of the Union Insurance Society of Canton have declared on Interim Dividend of 2s, per share on account of the year 1959, payable on the
1 November.
Hanks and Insurance failed to keep up with the rest of the
atich 118 #arket
There was only 11+ interest at lower levels, 30.20 Speculators feel there is still room for improvement in most 21.19 section and, except fer oc- 20.96 casinal profit-taking there is
2.4.21 21.100
Jevery chance the market will Breach a new high for the 'som-
mer ms.
Turnover
for the week was sinde - zpproximately $1 million;
1. raw. 2310 2110 540 V 230
1000
1K Bank Lombard Unloa
Wheelock IIK Wharf
HK Lands
400gb
+
Sept. 3
955
40%;b
The Share Market At A Glance ⭑
Aug. 27
045
Sept. 10
Sept 10
Sept. 24
Up, or Down
Dividend @ Bonus
Yield (%)
040
937
9550
sitady
348
5.2
40560
4034
1038
4.7
85
BO
20140
80b
8135D
+ $135
$3.60
4.5
0.35
6.45
0.65
0.55
4.05
+10%
750
11.0
104b
105#
101
103
108b
+$2
38.
JIK Docka
4415
45
45%
404
461%
+$2
$5
10.5
Talkoo Docks
22
IZK
3214
38
33
+350
• $2.80
7.5
Provident
13.30b
13.20%
18.20b
13.20
13.70
+30
$5.10
1.8
RK Hotels
284
30
28.40
28.40
234
2944
+$1
$2.50
8
30
254bxd
354xd
3634
$2.40
0
1.525b
1.526
2014
20xd
1.525 29x6
1.575
1.625
+150
150
B
2014
304
steady
5.8
136
1351
13%
1380.
steady
5.8
112
114
125
119
118
--$1
**
17.70
18.20
18.10
17.90
18.10
+208
$1.10
6.2
Electrics
20.10
294
IK Telephone
28.20
28.00
24x-all 28.00
23.50x-All
24.10
+-200
$1.90
29.30
30
4.700
$1.75
5.8
G. I. Cement
34
24
34
3414
2014
+82
$3.25
17.40
17.70
18.40b
18,90
+500
31.525
18.50
18.70
18.80%
18b
20
+51.50
31
20.90%
20.30
21,10
22
23.80
+$1.80
$2
Gay
014
6.80s
OV
6.15xd
steady
B.8
4.009
4.00
4.20%
1%
1.05
+180
25c
11.00xd
4.20 1014
11.70
11.800
11.00b
12
+10c
Upc
7.2
0.30 1054
0.05
10.70b
6.85 11.00
7.15
+30c
#5c
8.2
12
+40c
70c
5.8
K Really HK Trams Slar Ferry
Yaumalis
Ch Light
Dairy Farm
A. 8. Watson
Lane, Crawford Int' Investment Allied
HK & FE Inv Textile Corp Nanyang
17,60
7.8
Radcliffe Report
Points To Equity Buying
London, Sept. 24. As the Radcliffe Report throws some light on the behaviour of long-term investment institutions (making the subject about a tenth as clear as is customary in the United States) and as not everybody has time or inclination to peruse about 190,000 words, plus appendices and the two, coming mammoth volumes of written evidence and of oral replies to 13,477 questions, its description of the institutions seems worth. reproducing.
London
Closes
Wall Street Recovers On Higher
Renewed Support
New York, Sept. 24.
General Food General Motor
The stock market staged one of its best rallies in G, I,
BLA
weeks today.
The market me! renewed sugert in the final hour and hay recovered nearly $4,500,400,000 in stock values in the last two days, or about third of the $25 billion lost this month alone:
Puking
.
increased steadily from the opening bell enabling a number of issues to rise from their lows and ashers to extend ther gains.
The rolly is said to relect technical recovery from recent lows. Brokers said there were Chongh stucks in an
Oversold Position to form a base for re- covery,
HIGHER
Miscellaneous
Am. Home Prod. American Metal Am. Naturat Gus Ameilean Smetting Am. Sugar Ret. American Tel & Tel
American Tub. Ataconda Copper Armed Steel Armour
dented Corp. Baldwin-los-Hain.
Bank of Montreal
Boeing Airplane Borden (The) Co. Burroughs Add Machine Calif. Packing Corp, | Campbell Soup Co. Canadian inculc H.
Peany 3.C. Cu. Penal Soft Co. Philly Morris
Pitney Bowes
Procter & Gamble Co. Pittsburgh Tate Glan
Publicker Livestries Pure Oil
Radio Comuratino
ladic Corp. Pref.
Republe Steel
Royal Bank of Canada
级别 Sears, Roebuck & Co.
1064
033:
3741
0715
104!!
London, Sept. 24. The stock market closed
irregularly higher today. Industrials were generally mixed with small gains out- umbering losses. However,
Ils particular points are the large amounts they invest each yoor; their inclination towards equiles; the relatively small demand for shorts, even among the gener
funds of the in- surance companies (contrasting with the compulsive buying of shorts by the banks and others the who must have liquidity); strong appetite of the invest- ment Trusts for dollar securities; the backwardness of the unil trusts relative to the US, ond Their present prospects of con- siderable expansion; and ... per- hups most important the Iufent institutional demand for fixed-interest securities as and when their yields become more
attractive than equilles.
MONEY DECLINE
Against this tost nre the Re- port's findings that the expects-
Bait steels reacted from a Arm open-tion of a continuing decline in ing and closed lower on balance, the value of money has become stronger than it has been, in Gold stocks wete very firm. time of peace, for several cen- Coppers, however, cased on a turies" that the drive
into Arm opening,
equities goes on independently with Shell of Inflation fears; and that all of it has on balance been a re- direction of new money much
Gittedged securities fell back
selling of which has still gone into gilts with no nett switch from exist-
small Grecks cased in on
otherwise changed foreign bonding gilts holdings into equities.
Closing Prices
Olliedged Bonds
Corisals 25-1
1578/80
Lo211 3. 1050/00-
As in the U.S., one may won- der how, if ouch a switch ever pccurred, the equities could be found.
reasonable synthesis might be that, while bonda are not to be regarded as friendless as the right prices, their present prices are not necessarily bargains: if
Funding Stock 32%. 1990/2004- they do moderately well,
should suli
BOND YIELD
Ibe
#5
1 Batheon
34
261, Reynolda Melni
Gen. Tyre & Rubber Gelly Off
Glidden Co.
..
43
shell on ca
Goodrich (B, F. CB.
84
Saleway Stures
Oils were m closing unchanged,
Goodyear Tyre
147
Sam! Reg. Paper
2411
Grumman Aircraft
Schenley 1.
Cul Oil
110
Scott Paper
442
Hammond Organ
3314
Stolat O
ол renewed pressure,
z
Heyden Newport Corp.
Ja
Smith, Kline & French
77
Humestake Mining Co.
42'
Socony Mobil où
401
www.
Puma Refrig
1934 Solar Alcraft
6 market--UPI.
Idaho Power
4.315
74P
Ingersoll-Rand
4827
South Puerto Rieu Sigur Smaller Co. (1716)
2014 Inland Steel Co
2212 Southern Natural Gas
Interenemical Corp.
30
Southern away (Com.]
Int Business Machinesi
Standard B
Baltimore & Ohio
4316
Int'l Harvester
P
British Transport 0614
Standard O11 od Cal.
401,
Internalt Nicke
04
579%
Standard Off of Ind.
4211
Beneficial
231
International Paper
1202
Console +-472-
Standard Oil of NJ.
Int'l Tel & Tel
33
Convenion Loun
365
Bendix Aviation Corp.
63%
Steel Co. of Canada
£0-13/10.
Denguet Cons.
Jobas-Monyville, Ca
6122
Kaiser Industries
1m2
Sleep Rock ......
112
Funding
Bethlehem Steel
56
Kansas C. Power & Light
4812
Stering Drug Co.
03-3/10.
3134 Komet Copper
Stukely-Von Comp.
172
7814 Kinberly Clark
Stone Webster
£70
04%
3015 Ligget & Myers Toh. Co.
Studebaker-Packard Cory.
153,
Fundling Lann
1960/00-
no
01% Luy Tulip
521
Sunditne Mining
£91-3/10.
quitica them.
47
Litions Ind.
Swirl Co.
432
Sayings 76, 1955/05-19OAL.
110
25
Lockheed Aircraft
Texas Co.
Savings + 1000/70-007
27
Case (2.1.) Co.
10
Loews Incorp
Textron Inc.
30
Cat. Tractor
311
Lone Star Cement Co.
2012
Thinkel ben.
403%
Cektree Corp.
28
CL. Financial Corp.
Lowenstein & Sons.
Tide Water Ol
179:
6934 SteDermott J. Ray
37
Time Inc.
| Chaise Marbud, Bank
01
McDonnell Alremf
Tri-Cont. Warrants
20
| Chrysler Motors Cluet Peabody
Meunb: Iron Corp.
301
Twentieth Century Fus Plau
4014
Minnesota Mining
130
Union Carbide
3312
Milon Development
223
Union Oil of Cal.
4C
Monsante Chemical Co.
5012
Union Pactile Raliway
0114
618
Montgomery Ward
United Alteraft
| Motoroin Inc.
1001
Uulied Fruit
National Biscuit Co
DI
United Car Corp.
1.S. Foll
National Cash Reg, "A"
5344
National Dairy Prod.
B01
U.S. Gypau
Netion Lend
11399
US. Line CD.
National Steel Corp.
13
1.3. Rubber
U.S. Steel
New York Centrai
231
714
Norfolk & Western By.
0015
232
North Amer. Avintion
30%
BOT
Northwest Airlines (Com))}
Un Mathieson
431
Family Finance Corp Firestone Tyre & Rubber First Nat. City Bank
30
Dti Elevators
70
127
Owen-Illinois Clans
13
R3%
Oxford Paper Co.
467
Parte Gas & Elec.
E0?
2415
46|| Paramount Pictures
were | Colgate-Palmolive Co.
Issues higher on bounce and included emblan Carbon Co.
| Commercial Credit Link Belt with a rise of early Consolidated Edison six. Kimberly Clark, InterContinental Oll of Dei. national Paper,
American Ma- Crane Co........ chine & Foundry and Coca Cola Cuban Amer, Suga:
The market was 1 all up three or inove. bullish during the P
24!
Market Diary
313
FRIDAY:
COTTONS
Textter.
Nanyang
7.10 7.16 2000 M 1.TO
7.50
int. XD
Bb4
Allent
4.20
RIVESTMENTS
HK. & FE
Invest. 10.00
New York Cotton Market
New York, Sept. 21. Colton futures today passed another indecisively quiel session.
turnover of over $2 million.
day resulting in a
Monday:
Bullish sentiments
resulting in
highs for
Tuerday:
Today's volume was 3,480,000:
shares.
Crown Zellerbach
Diamond Alkal Diamond Gard
|Douglas Aircraft
Dow Chemical
| Drapont de Nemours
Eastman Kodak ......
Of a total 1,231 issues traded Paso Natural Gas
again prevailed 206 were lower.
new
Trams And Hotels. Turnover
- Telephones
American Exchange volume Ford Motor was 140,000 shares.
Georgia Pacine General Dynamics Fonds volume amounted to General Electric
was approximately $18,000,000. $1,952,000.
The share marke!
continued
active and the undertone remained firm Appreciable
Kains
were registered In most sections, Turnover VHS $2.385,000. Wednesday:. Further fractional
Small operations were given Thursday: over mostly to evening-up
the October delivery,
Incident
to first notice day, and switch-
Ing between spot interests
the December, March and May, deliveries,
1113-
The
Closing! prices ruled changed to off five points. market opened unchanged to off six points. Now Orleans closedi uff one to up two points.
Three delivery nollees appear- ed against the October contrast, one of which circulated until Jale in the session. Mie open interest in October. today -toini- led 77,300 bales, The Kurun- ented stock totalled 1,401 bales.
TIGHT SPOT
gains were re- gistered during the half day session with a turnover of $1,858,000. There was heavy trading in most of the popular coun- fers with further guins. Volume of business RVALS $2,072,000,
Dairy Farm
Dividend
BHBOUROO
The Directors of The Dairy Farm, Ice & Cold Storage Company, Limited, that an Interim Dividend of 55 cents per share in rempool of the year ending December 31, 1950 has been declared payable,
after October on of 1959.
21,
Houston spot interests
were accredited sellers of December against purchases of the March moving slowly crop has been because of the inability of the Commodity Credit Corp, to in- volee the old crop in sufficient volume to meet demand Ao u result, a temperarlły, tight spot situation has squeezed those who Maximum Selling, 72 7/16. tadi made commitments for December. Shippers find them) - selves competing with 'milla which need cotton to maintain operations, the report added.
Agreed Merchant Rates
West German Deutschemarks,
Dow-Jones clusing averages
were:
20 rasty
30 industrial
is unles
3 stucke
10 bund
Coman, future rice tex
Closing Prices
Abitibi P. & Paper Alden Ine. Acy. .... Algoma Steel Corp. Allied Chemicals Alled Milla Inc. Us Chalmers
Am. Brake Shoe Aunericon-Airline Am Cable & Radio Co American Cyanamid Co. Amner, Forga Power Am. Gas & Electric ....
20.19
446 | Pan American Airways
Yesterday's Closing
Parke Davis Co.
US. Swel 7 P.C. PT
Warner Bros...
Waukesha Motors
Westinghouse Air Brake Westinghouse Electric Western, Union Tel. Co. West Vo. Pulp & Paper Winn-Dixie Store
Woolworth (K. W.) Zenith Radlo
COMMODITY PRICES
SUGAR
NEW YORK
Closing prices all in per ib.:
COTTON
NEW YORK
14012
40%
ነገ.
2015
cents
All unavailable,
DI
NEW ORLEANS
50
AB unavailabic.,
100%
AGR
Contrael No. 4 (world)
Oct.
3.02
SAO PAULO'
Jan
3,12
All unavailable.
3,14
May
INVESTMENT QUOTATIONS
The following ore U.S. Invest- mew quotations in American dollars. The buyers' prices in- clude commission:
Amitated Fund A Bus Bhry Atom Day Mut Axe Hought I Buttock. Punet Canada Den Fand Canadian Fd... Canadian Ini Growth Chemical F Comwith Stock Dividend Sh Dreyfus Fund Eaton & 11 Storie
Electronics Lay Found Mut Fa Hamil Fd (CA Instit Found Instit Growth isult Toeorte Invest Tr Boston Keystone Cust Da Keystone Canada This Maw In Tr Mam Growin
Exchange Rates
Busines
uno Bets}
done in the local
market
WAN exchange
March
July
Best.
Spot-lb. Cabes)
Total Sales: 109 contracts.
Open interest: 2025 controls.
Contract No. $. (domestic) Nov. March May
Average price in U.S. at 14 de 318ied spot markets; 31.10 coula.
Total sales: 78,774 bales.
LIVERPOOL Closing prices
per 1b.:
all in pence
American Contract
607 | Det/Nov, 6.60 Dec Jan. 6.05 March/April Apat-(C. NY, ex-duty) 0.05 May/Juttie Total Sales: 113 contructi
July/Aug.
Open interest: 3,627 contracts,--UPI, | DeL/Nov,
Sellers Buyers
244
8.01
4.24
433
0.12
5.69
1.43
30
39.44
13.81
14.03
$7.19
10,00
1.09
1.23
10.00 11.05
15.02
10.30
1b.:
5.01
330
13.08
15.00
22.07 23,20
10.27 11.16
4.37
1.43
METALS
NEW YORK
Closing prices, all in cents per
All unavailable.
LONDON
Closing prices, all in sterling
10.73 11.7 Der lung ton.
Buyer Sellers
Mixed Contract
Oct/Nov. Dec/Jan. Karch/April May/June July/Aug. DEL/NOV.
RUBBER
NEW YORK
318220
Rex rubber futures closing
1844 prices, all in cents per lb.: 70311
No. 2 Oct.
NuGet. No. 6 Oct
Spol rubber unbated Blanket crepe No. 1 le crepe....
LONDON
Unavailable,
AMSTERDAM
10014+1007%
992-109
0815-07
104-105
8815-10015
113-115
Closing prices all in guilders per Rogram, c.l.t. Oct.
No. 1 rubber
No, a rubber No. 3 rubber No, i crepe
2,38 nom.
2.87 nom. 1.4 non). 3.38 m.
UPI
FOREIGN EXCHANGE
NEW YORK
Closing rates;
Canada
nikiai
30-DAYS
I-daya
Austral
New Zealand
South Afries
Others unchanged.
LONDON
Closing rates;
York
New
Nov: 38.06; Jas: 33.20; March: 53.10; Momtrent May: 32.10: July: 32.45; Bept: 5215. Amsterdam
Brusela Frankfurt SINGAPORE...
Ovip
11.00
12.13
4.81
31.0
1470 Spot
22.01
22.74
13.70 Cuppat
3-month
13.03
11.42
£3.00
14.01
Spot
month
Lead 2nd halt
closed unchanged to 10 English points higher and 103 American paints York futurer.--UPI.
.07
to 093 under Now
28.03 Scudder St & Ci 12.31 Tolov El, Fd
Supt.
53.70
30.10
4.15 || Value Line Mand 2000 V, I. P. *******
101 Zing 2nd half
0.04
Sep1:
11.00
| Singapore (Efruits)
1.01 Welling Fund
Duc.
11.00
-UPI.
No, 1: Oct.
Now,
The Liverpool market today morning at the following rates.73 Nat Bee Ber Grav
U.S. Golem (per $1)
.......................
starting notes (per £1) ***R
Australan notes (per £1).... onesian rupial (per 100). Stem cals (per 100)
Closing prices, all in Straits P cants per lb. fob. Malayan Stockholm
Milan ports:
Vienna 1011⁄2-501k | Kuried 905-0934
Savings 337, 1065/75-£75-3/16.
Banky
In
outstrip
prestal worldwide Barclays Banic "A" Ltd end-Gas shortage of capitol, and after
the investment revolution be
"Chartered Bank--188 Od.
kong-y
JAsurance
Unisa Imurance Canton-2941.
Aircraft and Motork Muler Corp.
Ford Motor Co -79% ki,
Brish
Joel
Ord-15
CITY LIGHTS!
"No, 500 ɑmployess habe been nera 1b years, not
Afteen 500 years!"
London Express Mervice-
Breweries
Distillers Co27× 1015d.
Building and stateslala Associates! Portland Cement--02
Pinchin Johnson Associates Ord 24 1994.
Col, Steel and Engineering Babcock 4 Wilcox LIGADA 174 @
Vickers Lid-27 3
Food and Tobacco Kritik Anerican Tok. Co. Ltd 675.
Imperial Tobacco Co., 1.4d-50%. Atcellaneous
Boardman Marden Lid-Za 415¢- Britials Oxygen Lid. Ord-60s. Canadian Pacific Riv-148. Dunlop Rubber Co 25% 1014, Hongkong China 1788–138. Imperial Chemical 30. Lyons & Co-768 30. Unilever Ltd-110; Pl.
Paper
Bowatto and Electricnt
Paper Coro Ord—543 34.
Associated Electrical-60%. Electrical & Musical—82€ 4340. Engilit Electric Co-42% odi General Electric 3.
Bhipping Indo-China Stearn
Nav. Co. der
-30 24.
P&O Bteam Navigation def ord -37% 7:50.
Biothe
Great Universe! Slorca "A" "Marks & Buencer tudo
Woolworth
F.
Textiles
Coats 3 & P Lid-20# 3. Courtaulds Ltd--30€ od
101 d.
1054
2.00003
2.0077
21.8102
22430
03 od.
3.7063
28103
Mines
tween ber current
and equitics, the bond yield of five per cent or so in Britain, Ger- many and the US. is by no means to be taken as neccssarily too high.
While
reasonably stable and reasonably absorptive bond market is a reasonable hope, the authorities In the leading centres
would perhaps be as surprised as the investors if the market staged arty notable sóvance. Anyway, however all that may
be, here are the Radcliffe Report's descriptions, --China Mail Special.
WORLD
WHEAT
STOCKS
Ottawa, Sept. 24. The world's four major
wheat
exporters held stocks totalling 2,445,- 600,000 bushels on Aug. 1, down slightly from 2,450,- 300,000 a year ago, the Bureau of Statistics said
today.
Smaller stocks in both Canada
and Argenúna accounted for the decrease. Holdings in the United States and Australia were up from a year ago.
and
August 1 supplies by country, with 1936 figures (bushels) in parentheses, were: The United States, 1,719,900,000 (1,000,100,- 000): Canada, 548,300,000, (030,- 500,000): Argentina, 76,000,000 (87,200,000);
Austrália, 103,400,000 (37,600,000), in the Canadian
Exports by the fout nations
стор J'OUT- August 7, 1958, to July,, 1050- totalled 934,700,000 bushels, up nine per cent from 850,200,000 in
Cony Goldfields of South Africa--the previous 12-month period.
Cons, Zine Corp. Ord—63» D3. Free Blate Development & Invest-
10 D4.
Jongkong
Petaling
03.
Southern Kinta Cone Lid-20s 3d.
Union Well Driefontein dolémining-4704 2.40 9/16-20 11/16 est Hand Cone 22 34.
10.08-10 140.395-140425
11.763-11.731
20,003-
1776-73.79%
1441-145144
U. S. shipments showed the biggest increase,
climbing to 400,300,000 bushels from 800,- 430,000 year earlier. Exports were up to bushels trom last alia climbed id 78,100,000 While Aus-
from 61,000,000.
from Argentins
100,200,000
years 77,000,000,
Canada was the lone nation British Borneo Petroleum Byndi-
of the Tour to show à decreasd lomás Dd. British Petroleum Co., Ltd-5 | 121
exporte shipment. This country
294,100,000 Petroleum biashola from the previous
year 320,820,227 bushels Baltransgiort & Fendi. UPT.
Pkzemah—448, ZIYR.
Toval
210-5/10
-Neuter.
Dutch
to
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