Page
THE CHINA MAIL FRIDAY, NOVEMBER 6, 1959.
WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE
INCREASE
INTEREST RATE
Affect Not As Bad
As Expected
During the
IK Hank
Lombard
Inten
Wheelock
22 10
Nov. 3
A
Glance ⭑
Up or
Dividend
& Boimia
* The Share Market
Ort. 8.
Oct 13
Oct. 28
Down
Yield (%)
090
990
1030
1050
1070
416
416
43
42n
4334#
+$20 -500
$43
4.3
52
4.3
ВО
10
872 b
87b
84bxd
----53
$3.40
6.45
0.45
0.93
6.00
35
15c
11.3
HK Wharf
119
121
119b
118
122
58
6.3
HK Docks
54
53
5515
58
58
stendy
8.6
Talkoo Docks
35
2534
9514
3614
30
?
500
$2.80
7.9
I'rovident
14.70
14.80
14.50
14.00
14.80
100
51.10
7.5
HK Notein
3114
3194
32
32
217
--51
$2.50
7.8
of
NK Lands
3739
$714
3814
3714
+75c
$2.40
6.5
IK Really
1.30
1.70
1.725
1.223
1.60
--12440
150
HK Trami
3044
30%
5024
31
3144
--250
0.4
Star Ferry
133
1.2
131b
132b
131b
---$1
$9
G.7
122
122x4
126
126
125
+$1
$6
Ch Light
18.20
18.40
19.30
10.00
20.20
+++300
$1.10
5.4
Electrics (old)
24,10
23.80
24.40
24.90
28
+100
$1.90
7
as
Electrics (new)
22.70n
22.70n
22.70x
22.70n
23.70
+$1
Electrics (rights)
12.90
12.80
13.10
14.10n
13.90
--20c
IK Telephone
3014
2034
301
31
29.601
-31:40
$1.75
5.B
G. I. Cement
3751
3714
37
31
2814
--50c
$3.25
19xd
204xd
21.80
21.20
20
-$1.20
$1.55
20.30
226
25.90
21.60
18.70%
-$2.00
$1
5.3
Lane, Crawford
23
24.80
24.80
245
23.80%
-700
$2
8.3
Int'l Investment
6
855
6.60
6.90
03/0
-150
10.3
the
Allied
4.001
4.623
6.85%
4.70
4.625
250
1.6
te
IIK & FE Inv
12b
12.10
12,10b
1214
12.00
+100
B00
7.2
Textile Corp
7.63
8.75
8.60
0.80
9.550
250
650
6.8
Nanyang
12.30
14.80
14.90
15.80
15.108
-70€
700
@
week quite a number poople received little slips from their bank informing them that interest on their overdrafts would be raised by one, two or three per cent the case may be.
HONGKONG STOCK
EXCHANGE
by
Our Own Correspundent
Business done at the kong Stock
And of course the first place to feel the effect was the Steck Exhange and the result we all it now.
One can hardly blure bank people for being a alarmed over the recent rise en The stock market and their de cision was backed by years of experience.
fely
the
They undoubtedly market had gone "inflationary" and well it might have been to a certain extent and a stop had to be put to it.
Hong- The. resultant increase of has done just this interest rates Exchange morning amounted to ap that,
proximately $1,023,000
the quotations and
transactions:
BANKS
JIK Bank
Noom morning's
Buyers Sellers Hales
10:0 10 1070
INSURANCES
Uzun, XD SHIPPING Wheelock
DOCKS, ETC.
3. Whart
150 3J00 11310
14
$220 3.65
$500 $550 1000 5.00
124
Dork..... 97% 50'>
Prudent
LAND, PYC.
HK Hotel
31K Land Humphreys Really.. AVELER Amalg
Trust.
14 70 74 0
1030 9:13 2000 650 $5000 +3.75 4000 + 5.70 17500 5.45%
1000 49 6.80 1000 or $.05 2000 5.00
-100 104 900 38
314 315
2000 100
160 100
35
XD
3.10
36 31
Sevala... UTILITIES
Temn
Yaumati C. Light
Electric
Fortunately the orket had been bullish all along and the wultant selling did not affect the market as badly as was ex- pected and prices have, with the exception of an odd Isuc here and there, weathered the spate of selling remarkably well.
A Good Sign
"A good sig'many have said and 1 am inclined to agree with them bearing In mind o course that the bulls have made the market and are not likely to give up the ship too easily
With this in mind one cannot help but feel that the market has 31.75 Just about found its level and 37%
will shortly begin to turn for the belter.
7850 3.603
1000
3 6000
124 124 1980
24.70
25
Bonus
Jets. 12.00 11.20 20.00 29.80
Macao .. Telephone,
INDUSTRIALS Cement. 30, 30.56
STORES, ETC.
Dairy
R10
4.9
At The close yesterday the
al appeared stendy 3.375 market
lower levels. Banks featured a rise of around $50 on
news with the British
2000 * 4.9AM
1000 € 57%
500314
300 31.
500 20
of a merger
Bank of Middle East.
20019 00 chunging of
1000 19.80 binets of China TX LA BO
YRumails
Dairy Farm
A. 8. Watson
U.S. INVESTMENT
QUOTATIONS
The following are US. Invest- ments in American dollars. Buyers' prices include commis- sion:
Amated Fund A Bus She
Atom Dev Mut Hulsek Pusď Canada Gen Fu
Electronics. Inv
Found Mut Fa it! P BC-7 tasit Found
Inett Growth 17t Income Invest Tr Doston Keystone Cust 112 Keystone Canada Mass Jav Tr
Mas Growth
at Bec Ser Growth Seuider St & Cl Telay Fd Value Line Fd Wellington Fd
Sellers Divers 7.06 8.13
WALL STREET
MOVES
IRREGULARLY HIGHER
New York, Nov. 5.
Stocks moved irregularly today with a majority of issues at or slightly
above their opening levels.
of caution prevailed
awaited
Supreme Court ruling on the |constitutionality
the Taft-
of
Steel was off a major Traction and came back somewhat after opening down more than point. Youngstown and lchem eased.
A
Beth-
Columbte ec. Beltish Columbia Pur. Calif. Packing Corp. Cana. k. of Conn. CIT. Financial Corp Clurit Peabody Consolidated Exper Continental Of of Deb Cosmos imperial Milis Diamond Alkali point after Dame Gard
Some electronics came under pressure with Texas Instruments
off more than a
4.20
5.30 5.00
13.72
15.013
1082
15,10
Canadian Fa
1777
17F2%
Canadian Int Gmwth Chemin d
9.44
10.32
12.30
A note
Arbenion Corp.
Comwith Stock
3401
16.21
As the Street
the
Bank of Montreal
Bank of Nova Scotia
27 | National Diacuk Co. 5Th National Dairy Prod. 0034 National Steel Corp.
201
90
Dividend Sn
3.2+
Dreyfus Fund
14.43
23.08
Berchile Savers
33
Noranda Mines Lid,
Eaton & H. Stock
28.00
23.08
Bell Telephone
4094 | Nortolk & Western Hty,
113
7.25
10.50
11.01
5.01
5.55
Hartley Act 10 come possibly today'
Dengues Cons.
29
North Amer. Aviation
3827
Borden (The Co.
821%
Northwest Airlines (Corn.)
10.00
11A1
Streis edged
lower.
U.S.
Burroughs Add Machine Brush Amer. Ost
3456
Olim Nathieson .............
30%
Owen-Illinois Glass
Penny J. C. Co.
117
11.10
12.3
Penn Salt Co.
FT
61%
11.08
12.44
Philip Morri
6912
BT
21.77 23.75
Pitney Bowes
1.1.23 10.30
Procter & Gamble Co
Publicker Industries
13.03
14.74
301
Pure Off
13.94
15.07
1.43
021
40
Raytheon
Royal Bank of Canada
15.00 17.50
4.57 12.02
634
Safeway Stores
2014
10m
34
Scott Faper
6312
South Puerto Rlee Sugar
130
Bouthern Natural Gas
Steel Co. of Canada
1311
123M
73
0745
231
1123
$82%
Wide Water Oil
2
16
Traders Flunce
30
Tel-Cont. Warrants
10%
Twentieth Century Fox Ti
Closing Prices
Idaho Power
Union Oil of Cal.
Imperial Oil
18
United Frukt
Ablubi Pwr, & Paper
39
Imperial Tobaccʊ
US. Steel P.C. TF
141
Alvojna Steel Corp.
37
Kaiser industries
Waukesha Motors
Ailled Milis ine.
33
Liggett & Biyer Tob. Ca
Westinghouse Air Brake
41
2017
Am. Brake Shoe
AB
Lily Tulip...
West Va. Pulp & Paper
51%
11
Lowenstein & Sons,
509
100
BUY
being up more than a point in pistineju-Seagroma earlier dealings. Litton dropped Don Sirel Cen Natural Gas
1, while Motorola firmed.
American Motors, a market
Agreed Merchant leader yesterday, droppedt sure Georgia aplic
Rates
Fal Nat. City Bank Ford Motor Co. of Cans, than two points. Studebaker- General Dynamic Packard, its when-issued, and Gen. Tyre & Rubber
Grunma Atzerafi all Ford trading exdividend,
Gulf On Hammond Organ cased Revlon's opening was delayed because of an accumula-Heyden Newport Corp. tion of sell-orders.
+ Malayan Dollars, Maximumn Selling 53-1/10, Minimum Buy- The other feature of the Ing 53-9/16 T/T: 53%
O/D: the recent 53-15/16 30 inarket has been
days; 54-3/10 60 hands of
lege days. Light sharUS
Swiss Francs, Maximum Sell- with only fractional changes in
ing 75-5/10. Belgian
Maximum
Am. Cable & Radio Corp. American Cyanomid Co. Amer. & Forgn. Power Selling 867.
Deutschemarks, Am. Home Prod. Germon W.
Am. National Gas Maximum Selling 72-7/16.
1000 24.50 rates.
300 n 25
530 23.70
12 13.09
500 2009
500 or 20.00 500
20.70
200 e 3528
20
100
500
18,00
23.70
9 50
15.30
0.70
12.00
20
the
Perhaps the most hard hit by
ber hus rerent selling
which dropped from: around $20 to sellers at $18.70 yesterday. Rumours of a new
Watsons
300 38.75 factory, sale of land or both 21.10 have followed ulfese shares for quite some time and they still persist. With these shares al their present price, the bulls are not likely to wait much langer.
500 14 30
2:00 / 10.70
1000 1014
2700 18
Watson
L Craw
COTTONS
Textile..
Nanyang
INVESTMENTS
Int.
BK & FE
Invest. ...
Exchange Rates
Buisiness
Was
done it the local
Market Diary
Friday:
The market was slightly jower during a day of fair A1 the
trading.
cluse
the market
appeared to case
off with sellers in
Franes,
Yesterday's Closing
Hiram Walker
Hursman Refrig
Merabl Iron Corp
Buanto Chemical Co.
Montgomery Ward
Motorola Ine.
COMMODITY PRICES
SUGAR
NEW YORK
evidence, Turnover Closing prices all in cents per
was
approximately lb.:
$2,152,000.
Uneficial excarice - markel
12
morning at the following rates:-
US dollars (per $1)
Sterling notes (per eu
5.70 18.03
Australian mules (per £1)
1251 Monday:
The market rearteri
Indonesian rupiah (per 100) ...
Siam Beats (per 100)
25,BS
adversely
In
the
Singapore (Streits)
1.79
morning
proposed
Courtaulds' Bid For Plastic Firm
London, Nov. 5.
Courtxalds, Limited, the
giant textilə rayon plastica combine.
ntaneti
mada
over Plastic
today
3.50
and
苦"
it had
National which
L £350,000 Lake-
for Limited.
owns the largest plasties
Ictory in Europe,
the
The
CHIN. BOW being considered by the directors and sharehol@bra of National Platies in Sa
Tor Caple #102,050 ordinary 10
· Meanwhile Qouriadlás announced proflis for the first butt of this your ohdisig Reptember 30 -for the group announbed to
£9,154,900, before
Now and £5,118,000, KISÉE Izzation
COMINEENÄ with ‚£3,010,000. Lor, the Dent Emir of 1983.— UPL
Tuesday:
10 the
Contract No. 4 (world)
Jan: 1.10: March: 1.17. Mey: 3.20 July: 1.23 Sept: 3.27;
Jan: 3.55; Mar: 3.35.
Oct;
Contract No. 6 (domestle)
adjust- Jan: 5.20; March: 5.64; May: 2.04;
ment of mierest July: 5.00.-UM.
raits but partially
recovered losses in
the
Turnover
afternoon,
was ittle over $1 million.
Although the turn-
over was only on
&
moderate
scale,
COTTON
NEW YORK
May/June July/Aug.
Oel/Tiov
RUBBER
Saint Rog, Paper
Schenley Ine.
Minith. Kline & French
11.71 31.25
Lud
Des.
11.73
11.80
JM.
Zino
Dec,
Jan.
Copper Dec
Jen
TIA
Dec.
Jen,
LONDON
3.10
100.75
100.75
Sleep Rock
Siene & Webster
Textron Inc.
Thinka! Chem.
Chicago Grain
Market
Chicago, Nov. 5. Soyaberns were Brm tund other grains lower today on the Board of Trade,
trade was light, In wheat, but the nearby contracts held firm until the closs. Bills were moderate buyers, Commission houses sold. The deferred con- iracts wore casier.
U.S. Taking A Long Look
At Its Economy
New York, Nov. 5.
The United States, plagued by a persistent outflow of its gold reserves, is taking a new long look at its future economic relations, with other nations all over the world.
the
A policy switch is in making which experts expect to have profound long-range effects on both sides of the Altanite and beyond.
of
Britain's economic consolida- ton also is viewed as a deve- topmont which might enable it 10 #tand a larger inflow Americea goods.
There was no indication thus speed of ret off by a worrying adverse far of the scope and balance of payments and a deflelt the now developing reorienta-
of American
The reorientation has been
of foreign payments extimated the lon exceed considerably the four strategy. billion dollur mark this year.
This development contrasts remarkable sharply with the recovery of western Extrope, whose economies have made a miraculous recovery and are booming almost everywhere,
PROTECTION
protect the
U.S. planners feel they must Inke steps now to strength of their own economy, ari tightening of U.S. pure
bas strings
boen advocated emenz the remarks under con Eldoration.
The new course will require
In the view of experts a good deal of rethinking
and adap-
tion in Europe. and in inter- national markets at large.
Three major moves are In volved in the
policy approach:
►
American
A move to induce TC- to buy cipients of U.S. nid American with these aid dollars.
• To make European nations contribute more to Nato defence needs so as to share thore than hitherto the cosis burden with the Slates.
טןןלכם
United
economic,
Some advice has been voiced publicly here to go owy on the Diy American" clogan and to use this policy with discretion.
Nevertheless expert opinion suggested that the impact of the shirt in balance was bound, to make itself felb progressively in urildes Europe and elsewherD there is spectly and marked improvement in America's own trade banner.~~~~UPI.
London
Closes
Lower
London, Nov, 5. The stock market closed Irregularly lower today after absorbing some sell- ing pressure.
Price declines predominated in the industrial fist with losses craping up in buildings, tex- tiles, motors and Electricals. Moet blue chip stockt were also, Courtaulds However,
To induce industrialised European nations who are doing well to participate more liberal- ly in the aid is underdeveloped easier. countries.
half
now generally ac- advanced on a higher dividend cepted as the most important and
a whopping first factor in the free world's con-profit, test with Soviet Russia.
COMPETITION
European and others were ex- pected
to face consequently
in future from US goads at home and in international markets.
Etronger competition
They also face greater pressure
10
help
Gold and copper stocks were Arm. Other base metals inded to case,
Oila also eased.and rublyers ran into profit-taiting.
Gilt-edged government bonds staged a recovery.
Greeks under.
bonds
continued
WETS
developed nations by outright strong but dollar stocks aid or investments at low in- weak-UFI, terest rates.
American officials cite these in support of major pointe their recrientation in economic strategy and policy:
The U.S. lost some $2 billion of its reserves last year and the outflow continues unabated. American exports took a dipi by some $3 billion.
Closing Prices
Glitered Bonda
British Transport. 3. 1978/ £3.7/10.
Consci 2%-52-1/16. * Congela
Conversion Loan
£67-1/10.
Funding
265-1/16.
Loan
1909-
1000/010-
Funding Stock 35%. 1000/2306-- Funding Loan %, 1900/00 90%. Savings 35, 1956/05-£92. Savings S 1000/79-21%. Savings 3 1006,78-€77.
2752. There still is plenty of gold in Fort Knox, the United States holding about half the world's
reserves,
But the planners belleve the time has come to "tighten up.” Contrasting the American pic- ture with the European scene where after years of crisle and "dollar gap" pitfalls economies are booming.
EUROPEAN MARKET
FIX-
Fast progress of the nation European market more- Over is seen as heralding the After roaching new seasontal | emèrgence, before long, of one
Closing prices, all in sterling highs in November, soyabeas of the largest trading blocs per long ten:
prices
¡ UPI,
· NEW YORK Rex rubber futures closing pes, all in cents per lb.:
Unreceived.
Buyers Sellers
Tin
Spot
TEX1
794
-month
797
#196
Copper
Spot
458
250
3-month
24736
Lead ist half Nov
Feb. Zinc it half Nov.
024%
Fet.
SINGAPORE Closing prices all in Straits 1.o.b. Malayan cents per b ports:
12534-12074 1101-110
fio. 1 Nov.
Dec.
No. 7 Nov.
No, Nov.
110-130
No. 4 Nov.
Spot rubber unbeled
129~130
Blanket arepe
114-116
31-134
Closing prices all in cents per No. 1 pale crepe
conditions t the lb. opening of the shara Spot Dec. market wore fairly
Marth
Letive and the May tendency
1920
was July
ne
Dec.
favourable after
the previous day's Mar.
casler trend. Turn-
over was around $2,434,000.
Wednesday.The market was a pot
Thursday:
on
32.40
LONDON Closing prices all in pence
per lb.: No. 1 Ros poeta: Settlement
FOREIGN EXCHANGE
NEW YORK Closing rates:
Canada England omela 30-day
32.70 nom.
$2.44
19.12
30-06
30.50
Nov. Dee
323-31
30.70
SanMarch
3312-30%
NEW ORLEANS Closing prices all in cents per
AprilJune
2012-009
aly/Dept,
29122-2015
Oct/Doc.
20-201
Ib.
Gmeral markets, var. basis, ports:
Nov. Akşene
3556
31.15
Diec
362-301
Fatale crepe th Nov, ...
New Lealand South Africa
03.11
22.70
3.70
thick Nov... 3035 AMSTERDAM
Belgium
4 Dedmark
Hulland
50.54
Norway
per kilogram, tif. Nova
30.05 No. 1 rubber
340 nom.
No. 1 rubkor
3.38 nor.
SAO PAULO
(No. 1 rubbet
Switzerland
Other unchanged.
LONDON
4
LIVERPOOL
Closing rates;
Closing prices all in pence per
American Contract
Oct. Dee.
with shade easier
March trading
May moderate Scale July Prices suffered a Flight decline in a Mar. low ones. Turnover amounted to $1,005, 000.
All unavailable.
Banka advance to $1,070 on the nows!
f
stars or cash lb.
offer to shareholders!
Det./Jah.
of the British Bank Mardy April of Middle East. | May/Ɛung Volume of business July/A
Oct/Nov. thenisacted Wat sp÷ proximately $1,007,- bab.¿san.
·Mixed Contract
March/Apri
FSHAR
STRZE
Closing prices all in guilders
No. 1 crepe,
$396.. 3,70 mom. ***UPL
METALS
NEW YORK Closing prices, all in centa pár
New York Montreal Amsterdam Brussels Copenhagen Frankfurt Dalo, Pari
Stockhol
Vientia
Zurich
15.:
******
declined somewhat,
the world, with as yet foreseeable potentialities,
Study To Be Made Of
U.S.
Textile Output
Washington, Nov. 5.
Un-
The Commerce Department announced today that
BANKI Barclay's Bank "A" Ltd ord-89%. Chartered Bank÷dds, Hongkong-425 (por.
Union 20-7/18.
Intrance
Insurance
Aircraft and Motors
Cantonm
British Motor Corp. Ord-221. Ford Motor Co- toa. ILootes L "A"-10# sa, Sundara Triumph International- 11s 21.
Breweries
Dutillers Co
Huuding ana Materials Associated
Portland Cement-le Pinchin Johnson Associates Ord- 276 3.
Cual Steel & Engineering Babcock & Wilcox Lidl. Vickera Lido
Food ana
British American Tob. Co., Ltd-
64 i
it would undertake a study to bring out ther
Imperial Tobacos Co., Ltd-671⁄2 60,
&lace!
Boardman arden Lag-by 10914. British Oxygen Ltd. Ordende iskd. Canadian Pacific Bly-$479. Janlop Rubber Co-37 14. Hongkong China Gaa~~[ša Imperial Chanlor=84. Lyon & Co-434, Unilever L-1278.
Bowater Paper Corp Ord-60# $4.
MASTER Bectrical
Associate Blackpitulats 26. Disctrical & Musical—ous 30. English lackile Com
I
Endo-Cats 'BeamNav, Co. def P&O Sitam Navigation def ord...
basic causes of periodic changes in production." and pricing of textiles.
.
Great Univ. Biores "A"-35μ "Marks & Spencer, 118-794 244.
3d.
of
University said if the | Northeastern }· Tho department 1.08-21/32 cnuses for these changes could Boston, for the actual analysis. Mr Wam H. Mictask, the textile economist and author, would be in' personal charge of
2.8020 2.8018 2.7925
8005
A1200
.1455
2641
.1403
be found, it hoped to find
way to smooth out the violent
Texbies Coats 3 & LAR-536. Courtaulds Lid cor
ups and downs in the industry the study. Officinis suld work Amer
Tho
the
BIL-
on it would get under way this week and it was hoped to complete Like analysis by the midate of 1980,
Santha
Coax Credonda of south Africa 20 NO CORP
Dons.
study, sold
would cover nouncement; broad range of textile in
the dustries, including
Free State Deydlopment & Invert- actions of inill managements to
The study grow out of the mat day, she thấy changes in volumes of orders tactile inquiry conducted over and inventories and prices, A
past two years by a special part of the study the effects of Congressional group headed by Mr John FosteNC., 2.30-2/10-220-8/16 demands, styles and product
Sénator 15-12.66-3/19 | mbetitutiona would also be
Pastore's group, in Its recom- 1074 dir ndao' into.
mendations, declared that was
vital need for the collection Pri nared; Petroleum. Byndi»
die tovaru
1509%
180.10-16030
ANALYSIS
the
The Busines and Defence and analysis of more dala in
cycles. Services Administration of the hextile industry Commarke Department yould Miternyk also directed the study be in charge of the study but for the Pastore sub-committee ---- contracts Wall be givits to Builders
ht Southern Kulla, Cobs, Ltd.. Union CarpeDATKA, Wort "Kirsadan talis doidmining-
artn Patroletam
Co., Ltd-le
Royal Dutch-Petrozaimi-
No comments yet.
Private notes are available after approval.