1960-03-11 — Page 2

Page Z

THE CHINA MAIL,

FRIDAY, MARCH 11, 1960.

WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE

MARKET

Record turnovers but little price changes

Despite a record turnover for the wock of

$28 million the market closed mixed with pricas, except in two instances, changing fractionally.

With the announcement of a belleved that

$2 dividend and Korken Docks rose

an $ bonus, news

by lep factor.

are bounds and closed at $8414, ars of $21 on the week. It is

HONGKONG STOCK EXCHANGE

Business dunc

Malaya's industry

CLOSES MIXED Hongkong capital

* The share

HK Bank Lombard Unloa Wheelock HK Whart

00

market

at

租

Up or

Down

+$10

glance *

Dividend

& Bonus

$2.05

Feb. 11

Feb. 18

Feb. 25

Mar. 3

Mar. 10

Yield (%)

1210

1313

1310xd

1280xd

1200

$43

3.7

4134

$221

4415

40161

4şb

--- 800

$2

4.5

BB

0132

102

1026

100%

$8.40

3.5

0.0K

0.90

6.90

7.20

734

+50

250

3.5

132b

170

171

1716

108b.

48

HK Docks

70

131%

9410

+521

Flo

10.5

Talkoo Docks

42

431%

48

431A

02

+$6.75

$2,80

5.4

Provident

28.80

1034

19.30

10.40

19.70

+306

$1.10

6.4

IFIC Holcis

20

3614

30%

374

30xd

-$1

$2.50

€1.6

or three

Trk Lands

404

4831

40

54

60xd

-$4

52,(D

4.8

HR Really

1,05

1.70

1.025

1.70

1.775

+0730

150

0.0

HK Trains

31

2314

3331

34

3411

+250

5.3

Star Ferry

148

Tolb

144xd

147xd

145b

-5%

$0

0.1

Yaumati

135

145

148

153

151b

-52

$8.50

6.0

Ch Light

19.10

20.80

201

21.60

21.60

-20c

$1.10

24.80

27

2014

26.70

27.10xd

+400

$1.00

7

34

354

3531

3811

384

+53.50

$1.75

4.5

444

45%

4832

44x4

44xd

-500

$4

8.0

Dairy Farm

14.30

24.80

2414

24.30

2014

+$2.20

$1,55

5.0

A. S. Watson

24.60

23.70xd

25.10xd

2014

26.70

+200

$1.50

5.B

Lane, Crawford

2014

914

314

2474

3344

150

$2

5.8

Int'l Investment Alfed

7.40

734

7.40

8.00b

8.40

+350

650

7.0

0.15

0.60

0,40

7

6.70

-300

24c

3.0

14

13

16,20

15.70

16.40

+70c

5.5

10.10

10,30

9.90

0.35

10,40

.450

18

0.2

15.00

15.70

15.00

-100

700

4.4

good company was also a contributing

Two other stocks came in for They were Tele- shorp rises phones and Textiles. The form- er on a more speculative scale in for while the latter came good buying demand.

Jo

4

Duries after Stores, stendy rise during the week cased off at the cluse on a spale of pro-taking.

Watsons remained steady at around $20.50 although demand locking. Lane, Crawfords

WGK

feared on lack of support.

Interest in utilicies appeared fo lessen with the exception of Telephones which came in for a sudden rise on good demand. They closed at $30 rise of 33.50 on the week.

Both the ferry companies were due to mid-

at the long-¦ fractionaily lower

kay, S'oek Exchange this inorn-week profit-taiting,

Banks and Unions inmated to approximately

$2,814,0. Nova qulations and cornewhat. fa dvorning's transactions:

BANKS

K. lank XI

J4

1275 1213

weakened

both

Textiles and Nanyangs

Electrics

IK Telephone

G. I. Cement

JIK FE Inv Textile Corp Nanyang

Wall

15.70

10.20

Street

in sharp

rise

New York, Mar. 10.

passed the $10 anik and buyers Rail issues continued to spearhead the recovery

stocks in moderately active trading today.

in

Sharer luyera Hellers Bales improved on the week. Textiles

201209 appeared to be unsatisfied. 301280 Proft-taking, although

Levidence falled 10 dent the The market rallied sharply Cma. Bk. of Chun. market and any spate of selling | yesterday following a seven- Campbell Song Co.

Cal. Tractor session price slide. The recovery Celanese Corp. tho! Was fuciled by the bullish state-CIT. Financial Corp Arm inents of two major steel com

JESUMANCES

120000

MIPPING.

WOMBAR

716

11

7.15

7.30

100

07.0

HKS 7.15

DORS ETC

1. Wh

174

2004 172

100172

Dock

ט 14 יונ

10000710

م وی ام الامام

200 - 18

1200 - 100

500 IN

200

2:40 END

1700410

3700.

22301.33

Provident "Pokkum Dock Shoo Dork LAND. ET

fik stel.

YU

RK 1nd,

Realty

21.70 1000 - 21:30)

1, 180 CUER) + 1.775

Firs

30 37**

Ap

50

1305

was easily absorbed.

Brokers feal

confident

the market will continue

in

rallies

Raula Corp. Prol. Fayli

Hoyal Bank of Canada

hern Mig

Stara, Roebuck & Co Soleway Stores..

Saiol teg. Paper Schenley Inc.

Stoll Paper

Smith, Kline

Selar Aircraft

French

Buth Puerto Rico Sugar

Southern Natural Gas

of Canara

Steel Rock

Bicen

Sterling Drug Co. Stokely Van Camp.

Sunshine Mining

40

43

15

23%

Sione & Webster

20

0

274

Textron Inc.

221

52

Tulokal Chem.

44

Gluett Peabody

ide Water OIL

20

Colgate-Patrols Ca

3015

Traders Finurice

the

Consolidated Paper

Columbian Carbon Co.

601%

T-Cont. Warrants

2218

Twentieth Century Fox Fin 31 x

cun-

Continental Oil of Bel.

40

Union Du of Cal.

Crown Zellerbach

442

United Fruit

Dinned Alk

541 sed Gas Curp.

also

2015. Giteel 7 FC PF

30

Waukesha Moluru

Westinghouse Air Brake West Va. Pulp & Paper

27

Winn-Dixie Stores

27%

Zenith Radio

40

#71

remane Tyre & fubber

-UPI.

chip

First Nat. City Bank Gatineau Power

with possibly still higher turn-panies regarding shipments and Lovers. Prices ste expected to redutput this year und

muta stendy,

technical strengthening uition of the muskel.

background The news continues favourable,

Market Diary

Friday:

Monday:

3700060 1.775

RUBBER Anda.

5.00

57 3566 G

7:30

7330

Sumeda

1~ ፩፥

15-11

Mar Ferry

1000 0 $21

735 17000 7.35

ARD 2 7.05

143.15 TAK - $106

15004

3413

34 34'

30 A 344

--

144

510

YING

135

4. fght

21.40

May

2000 4 21.97)

1500 21

100 23'

Electri

Telephone

7063 21.70

14.70 HEIT 24.70

2000. 26.00 1000 231XN 20.00) 675.00 1002.

1200 331

2000 4 39

2008

10 4 131.

1000 i 3048

500

INDUSTRIALS

CEL, NU 43 4317

STORES, ETC. Dary

25.70 20. 2300 12 201

Wha 1, Craw CCTTONS Textile..

Tuesday:

and Gand Wij Dalers-Seagrones

Dominion Strea

by Douglas Aircraft which Dow Chemicon

Wis

The market was ex-Street unticipates a report tremely active, Goversument economists during the day re- will put capital spending sulting in an year at recurd levels and some other record turn-15 per cent above over 1959. over. Many rates Du Pont led the blue were

marked

of nearly up advance with a guin

El Paso Natural Gas Family Finance Corp.

Georgia Pacie General Dynamica

Gen. Tyre & Stubber

Glidden Cu.

Gruntmen Aircraf

Quiz Ou....

Hammond Organ

Herden Newport Corp.

Hiram Walker

and interest was two. There were big gainst Gen. Peh. Vell. well spread. Turn-among electronics, while motors over was $6,392,000. | were mixe

Today's volume was 3,350,000 The week opened with yet another shares. record turnover at | Of a tolal 1,196 issues traded, $7,000,000.

Dow Jones centred chiefly

ilities. A feature were:

Inchinteluis 30 Kowloon 5 tie

stocks bonde

Interest 529 were higher and 400 lower. Reldig.

on

of the day was the rise of

Docks which closed

at $84.

Although

20 rulla

40

closing

average Idaho Power

Imperial Oi

Closing prices

volume of business Abitibi Par. & Paper recorded was on Algoma Steel Corp. modest scale

the Allied Mills Inc.

demand for shares) Am. Brake Shoe

Aur Cable & Radio Com. was by 110 means

American Cyanamkd Co. satisfied. Rates on A Gas & Electric the whole were well Am. Home Prud... maintained. Utilities A. Mach. & Fatry. met with profit Am. Natural Gas taking and closed | Armen Steel fractionally lower.

Ant. Sugar Ref.

Asbestos Corp.

Turnover amounted Bank of Montreal to over $4,787,000.

Wednesday: The market CON-

Bank of Nova Scotia

Brech Life Savers.. Bell Telepone

Beneficial Finance

tinued active during tenguel Cans the half-day session | Burden (The) Co with prices rugis-Burrnights And Machine bering slight gains Fritta Columbia Elec,

100 20,00

in

1.500 a 20.10

300 6 24,80

2210

28.70

500 240

500 2000 20024.00 300 20.00

0 10.40

2000 v 10.40

31 331

16. 10.30

2000 10.30

2000 or 10.30

13.00 16.20

A.50

0.30

14

300 @ 1040

INVESTMENTS

Int.

Allied H.K. & F.E Invest.

Thursday:

P&O

British Amer. Ou

some sec-air. Packing Corp.

tlogs. The volume

of business trans- acted amounted to approximately $3,471,000.

The market con- tinued bilish with interest centred on Docks, and Tele- phones. At the close the market was

Arm. Turnover amounted to about. $6,000,000.

R.M.S. "CANTON"

EMBARKATION NOTICE

602.31 Imperial Tobacco 141.66 ingeroll-Rand

Inland Steel Co. Interchemical Corp.

McDonnell Aircraft

S. INVESTMENT

QUOTATIONS

ww

40

5.2

London closes steady

playing an important part

By GORDON HUNG Hongkong capital is playing an important part in the industrialisation of Malaya and at the moment eight Hongkong companies with an estimated capital of M$28,400,000 hovo submitted plans to the Federation Government for eight projects under the Pioneer Industries Ordinanco,

received for.

By the end of last year enure that the products would an adequate outlet, c- Hongkong's total investments In have ploneer Industries by the coun- peelally when several appilca- try was second only to Britain, ons have been which leads the list of foreign the manufacture Investors with a total of M$0 | producta, million. Hongkong'a figure 'abood

of the samo

A number of appleants

• by

at $2 milion followed America, Australia. Japan, have stipulated that before they Germany, Denmark, Indonesia pre prepared to go ahead with and Hailand.

their projects, they wanted to

AMer

be granted tariff protection or of torf relief. Govern

the Independence Malaya, the Federal

ment began looking into the

A Some difficulties HAVE

prospects of encouraging foreign been experienced because of the capital into the country to help staff shortage. Industrialine the country, which

Among the bigger Industries

depended primarily on tin and now under study or have been

rubber.

of

granted pioneer status in prin-

The Government tackled this eple are an American tyre fac- problem with ↑ for-sighted tory, a Japanese car factory, an polley

grenting lax-free American refinery and chemical # paper offers to what they considered fertiliser plant, and "ploneer" Industries. These are mill. Industries which the Govern

With this boom in industry.

London, Mar. 10. The Wall Street rally ment considers would improve that has employed nearly 2,000

economy

the country's brought an initial burst which havo not previously

of buying on the Stock existed in Molnya. Exchange today, but n reaction set in before the close. Industriul leaders held a part

people in the past years, los and less and that was set aside for plomeer industries is becoming Mavaliable.

Most of the building is going

Industries Thirty-three with entirely local capital, have been Elven "tax holidays", while

109 products, which on at Petaling Joyn, a garden their

foods totellite town even miles from fron intents

the Federal capital. antibiotics, chemicals and

A from light industrial machiney to chemicals and antibiotics, granted pioneer status.

of their gains particularly range

which

to to steels,

respoxied 142% figures showing a record United Kingdont output for February. British Govetzunez bonds attracte Kitle attention and had dull appearance at the else. QU shares had

irreinar ride but ended mainly higher. Golds dropped after a firm open- ing. Coppers also failed to hold early gains but tina finished fr,-AP.

Closing Pricos

Gutedged Bondi British Transpori CO+-13/10.

Consola 2—£47-3/16.

Cunols—£70}%. Conversion Loan

Funding Loan W

1070/08

TAX HOLIDAYS

The tax holidays range from two to five years depending on the type of industry.

record number of 50 factories only half of them pioneer industries represent-

dollar pr ing multi-mțition Jects are to be set up there this year.

This total is as many as tho number of factories set up thero during the last six years.. The prerequisites for granting Now the Petaling Jaya Cor- pioneer status to applicants are: poration, which runs the 4,000- a quandary, pore town. 15 in Local men must be train-Only 15 acres are left out of ed for managerial and higher the 400 acres set aside for in- executive posts;

dustry.

⚫ Sufficient

BI5%,

1969--present:

#t

1930/09 Funding Block 31, 2000/2004 £B-1/10.

Loan 4, 1900/00- £9134.

Wenn 35, 1835/05 £90-13/10.

Savings 3%, 1000/70-£00%. Savings 3. 1005/75-2743.

Hanks

Barclay's Bank "A" L Did–568. Chartered Bank-Bio“ 3d. Hg9594

Lloyd's Bank "A”—00a 3d.

Aftcraft and Riotors

British_Motor Comp. Orl-I Dd.

381

The follow are US. invest- iments In American Buyers prices include comunis

dollars

2013...

391

slon:

Sellers Buyers

2013

15.07 100.71

30%

Amliated Fund

7.05

7.02

Caiser Industries

261

Kan C. Fower & Light

WAK

11

Am Bus Shr

4.01

4.31

485 | Atent Dev Mut

4.00

$45

Kimberly Clark

Bist

Axe Houghton 1

U.10

0.00

Liggett 2 Myers Toh. Co.

(49)

Bullock and

13.91

13.40

3312

Lowenstein & Sons.

Lily Tulip********

60%

Canada Gen Fund

12 54

13.08

Canadian Fund

13.03

17.24

BeDermati J. Ray

31xd

Canadian Inl Growth

9.19

10.04

33

303

Chemical Furut

10.03

11.30

47

1036

Monsanto Chemical

412

Comwith. Stuck

14.02 15.00

Montecatin

Dividend Sh

2.03 3.10

Motorola Ine.

Dreyfus Fund

13.45 14.02

4114

1024

National Biscuit Co.

Eaton & How Stock

23.04

24.04

Ford Nower Co-De 105d.

519%

1942

National Steel Corp.

Natural Dairy Prod

腿

Electronics Inv

1.03

Found Mat Manal

10.02

10,00

Noranda Mines Ltd.

40

4.00

Norfolk & Western Ry,

19.30

00

North Amer. Aviation

34

10.35

Northwest Airlines

24

Distit Incon

BO

Olin Mathieson

44TH

Invest Tr Boston

10,77

011

Gen-X]Bal Glass

501

Keystone Bus 12

Pruuliding and Materials

3300

exford Paper Co.

20

Keystone. Canada

Associated Portland

Cement-48)

43

Parke Davis Co.

10

Mass Inv T

12.53

13.45

114d.

*

Penny J. C. Co.

11423

Mase Growi

13.40

Goodian Wall & Lead

1 Penn Salt Co.

201

Nat See Ser Growth

Dut

8.13

8.03

4411 Patio Morris

01

Scudder St & C

2011

Pitney Bower prior

20ti

The 12 Fund

753

3,21

Procter & Gamble Co.

DI

Value Line Fund

301

Publieker Industries

V. I. P.

10.35 11.32

Thure (1)

al

Yesterday's Closing

יפני

Kam F IC-7

Testit Found

fintit Growth

Wellington Funit

5.34

(3.47 11.50

COMMODITY PRICES

RUBBER

NEW YORK

futures Rex rubber

closing prices, all in cents per 1b.:

March: 4030; May: 39,78; July: 3005 Sept: 33.60; Nov: 38: Jan: 37.40; Mar: 3000.

SINGAPORE

Closing prices all in Stralla cents

Ib. fo.b. Molayan per Doris: No. 1 Mar. ADY.

For United Kingdom via Singapore, Penang, Colombo, No. 3 Mar.

Bombay, Aden and Port Sald.

EMBARKATION: Passengers. should embark between

SAULS:

BAGGAGE:

2.80 and 4.00 p.m. on 11th March, 1900.

At 5.99 p.m. on 11th March, 1960.

Should be sent to Hongkong & Kow- loon Wharf Co's Godown (No. 2 Gate) by 6.00 p.m. on 10th of March, 1960.

(SUBJECT TO ALTERATION)

No: 4 Mar.

No. 3 Mar.

„Spot rubber wibaled

Danke! crepe.

No. 1 'hole chupe du

120-120)

Dec: 30.85: Mar: 31.31; May: 3147:

July 31.39 Oct: 30.77: Dec: 30.74.

NEW ORLEANS

Closing prices all in cents per

lb.:

Copper

May

LONDON

30.17-98 20.07-00

facilities at

The demand seems endless," the administrator, Inche Abdul

Is in the Aziz, said. "industry creates In-

• Whether

factories public interest to encourage the dustry, and the more development of such industries; that come here, the more want

to join them." and

Favourable prospects of fürther development exist.

Nearly M$200 million been invested in planeer dustrica so

A PROBLEM The problem now confronting has the Corporation is whether or inot to develop min sector of the has already been far und the 33 town that

entirely earmarked for housing. Hawker Siddeley Group Ord-mpanies, 14 have

local capital, three have more

The other area where pioneer than half local capital, Ave less Industries are springing up is at

the rest

Johore Bahru, which is at the

enal of southern-mont

tha Joining Singapore Federation, Island with the rest of the in- Malayan peninsula. Here dustrial land is at a premium and limited.

Rote Hoyen Ltd Ord-17p 30, stootes Lid “X”mão 04.

Standard Triumph International—than half, and A 150.

Browerica

Distillers Co-33 30,

South African Breweries-25 Cd.

wholly foreign-owned.

are

Thirty-five of the firms whese applications are still under can- sideration proposed to have en- Ord-44s tirely local capital, eight to have half local capital, more than seven less than half and 20 wholly foreign expital.

Cnai, stert and Engineering Babcock a Wilcox Ltd Ad. United Steca och Vickers Lid-220 7350.

Food and Tovacco British America Toù. Co., Ltd-

imperial Tobacco Co., Lud—ONG DA,

MiscellaneoUS Buentran Marion Lt43 7150. British Oxygen Ltd, OrdD06. Canadian Pacific Riy—$SS. Denlap itubber Comms Tijd. Hongkong a China Das-its. impigiai Chemical-dis po Lyotle & Co-126 od Unilever Luklara com

Paper

Bowater Paper Corp Ord-076

Badio and Electrical Associated Electrical das id. Mitefrieri & Musical—&is gd for. Englan Electric Co-490 30. General Blectric – Iis 34.

Bhipping Indo-Eules on New Co

urch To Ou

det

P&O Bicam Navigation deť orðum

Stotes

Closing prices, all in sterling 40 pct. Spot: 31.00; Mar: 32.00; May: 13.07; long ton. July: 2251; Oct: 30.03: Dec:. 31.337 Mari 31.59; May: 3150; July: 30.70; | Tin Oct: 30.70,

SAO PAULO All unquoted.

Average price in U.S. at 14 designated spot markets: 32.03 cents.

Total sales: 34,078 bales.

LIVERPOOL

AIN-DES Closing prices all in peker 1174-1176 per b

114-1185

1111-110 American Contract

157-3204

Morris/April 21.00: May/June: 11-118 22.00 July/Aug: 27: Oct/Nov: 31.05.

| Dec Jan: 21:20; Mar/April: $1.00 154-195

Mixed Contract AMSTERDAM

March/April: Closing twice all in sylders 2.35 per kilogram, clf. Mar.

337, buyers † 21.20-UPI.

No. 1 rubber

No. 2 rubber

No. 3 rubber

No. 1 clove

Buyer

bitytra

* buyers

May/June:

Del./Nov: July/Aug: 220; Dec/Jen: Z.; Mar/Apr:

METALS

Spot

3-montia Copper

Spot

3-month

Lead 1st hall

blar.

Jura

Zinc 1st half

Mor.

30-days

Buyer Sellers 10 Universal

7053, 705

20016

|

2.0067 2,0050

NEW YORK

Closing rates: England offel)

Closing prices, nu in-cents

per lb.:

Lead

Mer.

11.10

May

Zing

90-days Others unchanged.

LONDON Closing rates: New York Montrent Amsterdam Dato Blockhom 19 Affi

2.0034

2.0041-2.003%

11.10

*310

Vierg

COTTON

NEW YORK

Closing prices all in cents per 1b...

Spot: 32 Bont: Mate: 33.04; 1" MIT May! 22.90) July: wal; on; w997

NEW YORK

27483h-176335 23.00-724,05

---VEZ

Storde "A"-46 Marks&Spencer Ltd-70 Woolworth F. W. & Co-Bir d

Textles Coola 3. & P. Lid-358 439 Courtaulds Ltd-01a 1194,"

Dora Golifields of Bouth Africa-

Cona. Zine Corp. Ord–10% Pd.

23 Jibers def-1711 deur. Hongkong Title 1:50.

Petang T-78 1150.

13.

Rand-is

Southern Khila Cons Ltd-20% M.

Unkm

West Driefontein Goldmining-177

Brilleds Borneo Petroleum Byndi cate==GM BLA

0:1

British 'stroleum Co., 140-830

"Ülurmah-469 3.

Sell Transpers A Tradin

Incomplete prices

Wo regret that owing to poor reception New York stock and com- modity prices are in- complate:

DELAY

Now the Goyenment le look- ing into the possibilities of de- veloping Malace on the south- west const of Malaya and Although inr the beginning making it a drst-class lighterage nine Hongkong companies apport, plied for ploneer status, one was

But the Government warzis, refused because other companies the Ministry of Commerce and had applied to make the same Industry cannot force new in- product

were therefore dustries to go to any particular Riven priority.

and

farea,

All they can do is to present right develop or improve facilities in granted pioneer various areas,

Two of tho have been

status, three are in the process

others will be considered at a ister date.

Industrial observers say that

of being considered and that the rate of establishment of pleneer factories, the Govern- ment target of abinining

million for Indus

The eight companies have on M$3,000 estimated capital of M$23.4trialisation over 20 years would million, but only $11,105,500 be achieved. is expected to be called up at¦ first.

And the Government's aim to of the spread the econoшry will be country over a wider area- Of this $1,285,000

and the with tin and inbber remaining provided by Malaya remainder by Hongkong cources, the backbone of the economy of Although these applications the country and providing were made last year, the Minis- more ter of Commerce and Industry, nation's exranding population

Jobari, will be realised. Inche Mohamed Khir

Hsic four reasons for the delay

in dealing with the applications dor tax exemption:

employment

far

Time is required to check a winner every time

the creditworthiness applicants and

of the

the extent of their tochnical knowledge and

ability.

in many instances, mor- let surveys have to be made to

་

Exchange rates

the local Business was done in Unofficial

market exchango mcming at the following rates!--

V.B. dollars (per $1) Sterling notes (per 1) Australian notes (per £11

Indoneelan rupiah (per 100 Atom Heats (par 100) Bugspor (Biraits)

Cho

this

6,72

Jockey underwear

14.90

1 made only