1960-04-01 — Page 2

THE CHINA MAIL, FRIDAY, APRIL 1, 1960.

WEEKLY REPORT ON THE HONGKONG

STOCK EXCHANGE

MARKET'S RECOVERY BID

Gas Company shares

offered

to the public

After closing last

note

as

HK Bank Lombard

Union Wheelock

market

100%

at

1

Ater. 31

glance *

Up or Down

Dividend

4 Bonus

Yield (%)

Sharp recovery in

gold shares

in London market

London, Mar. 31.

A sharp recovery in gold shares after yesterday's heavy fall and distinctly dull conditions in in- dustrial equities provided the chief features of the London stock market today (Thursday).

Gold shares fuctuated in very! sensitive conditions during the morning but went ahead later on Continental and Johannesburg buying and the leaders closed Kalna. with some substantial Diamondka rebounded

sharply and coppers recovered from dull opening but tin shares were cosier.

The share

Mar. 3

Mar.10

Mar. 17

Mar. 24

1280x1

1390

1270

1280

1245

$48

3.6

40b

48344

48

43

$3

52

4.9

102A

1001

100%

00

$3.40

3.6

7.30

714

7.40

7.30

7.10

20c

280

1,5

BK Wharf

1711

1686

177

188

181xd

$8

4.7

HK Dorks

2344

04%

97

9534

04xd

1,00

.$10

10.

Taikoo Docks

45%

52

54

5034

4032

----$1.

$2.80

5.0

Provident

10.40

19.70

HK Hotels

3712

3614xd

18.60x 36x

18.20xd

17,40

50c

$1.10

4.5

354xd

3514

steady

52,80

6.7

KK Lands

54

50x4

result

Friday on

of

a weak persistent

HK Realty

1.70

1.976

34

3454

50xall

1.775 333xd

4034

4034

steady

$2.40

4.8

1.75

1.70

-Be

150

9.0

32xd

314

-$1

$2.05

6.3

Star Ferry

147x0

143b

155

1535

102

$9

5.6

Youmatis

153

151b

174

164xd

169

+$5

$8.50

$1.2

Ch Light

21.80

21.60

22.70

23.30

23.70

+400

$1,10

4.8

Elcetries

20.70

27.10xd

21.00

27.30

27

--300

$1.00

-73

IK Telephone

34-53%

38%

ንተረሩ

3501

30

+250

51.76

4.8

G. 1. Cement

4x

sixi

#534

44

4334

260

alry Farm

24.30

2032

26.80

26.30

20.30

steady

$1.55

5.8

expital to 2,000,000

shares out

A. B. Walton

2014

20.70

20.30

20.80b

20.30

~100

$1.50

5.8

Lane, Crawford

34%

3344

3zb

3214

3144

$2

3.4

Int'l Investment

8.056

8.40

8.25

8.205

8.204

strady

650

3.0

Allied

"

6.70

0.00

0.95

0.80

-15c

250

1.6

The hint in the economic sur vey that restrictive measures may be included in next Mon- brought wide- day Budget spread but usually small losses to industrial equities.

Ju

45

15.70

10.40

10.20.

15 xris

154 xris

steady

110c

4.8

9.95

10.40

9.00

D.75

936

--250

65¢

0.5

15.70

15.60

15b

14.10

700

profit-taking, the market rallied to

regain its

losses

although turn-

over was comparatively lower.

Most sections showed frac: jom: losses last week and it appeared that the market was in for a bout of profit-taking in

had to find its level.

But an Monday after opening weat, the market, showed signs of improvement on renewed de- inund.

This continued throughout the werk and gains were registered in the more popular locks from the previous week's lows

Notable gains

Notable gains were registered by Hotels Cements and Ducks. The latter closing at $94 ex- dividend as

against

dividend last week.

of which 500,000 is now offered to the public,

Market diary

Friday:

Monday:

$05 cum

Tuesday:

Banks and Unions however remained dull and closed with fractional loves,

Both the colton mills, Textiles.

Nanyang and

weaker al the

fractional losses.

11#

whic

close

slightly with

The two ferry componies were

demand but

Slar

Ferries i

The

market

Was

easier during the day resulting in a moderate turnover. Rates were trze- Honally lower. Turnover won sp- proximately $2,585,000.

The market closed steudy

pront- 35 taking tapered off. Buyers were evident

at loer pries levels. Turnover Was approximately $1,867,000.

10-

The market covered sightly fim the previous

day's losses and the

HK Trams

IIK FE Inv Texille Corp Nanyang

NEW YORK STOCK MARKET

New York, Mar. 31.

undertone appeared Stocks declined for the fifth

consecutive session today

14.60

Big deficit Britain's

in

trade

with the recent favourites

losers. A biggest

sleadier. Most issues rallied from lower levels on

the demand. renewed Turnover was ap

the

Trading continued latively light.

proximately

$2,233,000.

showed a loss of a dollar on Wednesday: The market showed

the week.

031 Yaumatis

other hand gained $5.

The

In stores buth Watsons Lane, Crawfords iunained fairly steady

The main news of the week comes in the term of an offer

to the public by the Hongkong Gas Co. of 500,000 and China shares ut $12.

Gas Co. offer

biil

The shares will no doubt be over-subscribed in which scrip will be silotted in prepor- tion to the subscribed figures.

It is estimated that the return will be around 80 cents or 64 pur ceni.

The Gas Company had re-

their cently increased

issued

Thursday:

LOMBARD BANKING LIMITED BANKERS

re

It was the biggest deeline of was Eten by

a Amer tone during the week, but

---750

balance

London, Mar. 31.

deficit of £58 million in the balance of visible United Kingdom trade during the last six disclosed today in a months of 1959 was Government white paper.

This

the half day session brokers as just a continuance of

cam- estimated igure with

rates the techinical readjustinent being some

£5 pares with a as the Het attempts to

surplus of registering smalt made

million in the same period of advances.

Taikocs, form some sort of a bus from

launch a Hotels and Lands which to Improved slightly rally. and Utility isur

WOTC

$1,507,000.

sustained

FAVOURITES HIT

1958.

in July to December last your exports jose by £91 million but by TBOTC, Imports rose even £154 million because of the in- ¦dustrial output.

The

UNCHANGED

white paper said the

with balance

open-

Amer. Yaumatis came in

than 14 Polaroid fell more for good demand.

more than half Business transacted paints to erase

of the 21 peini rise of the past ted lo

two sessions Other recent fav- ourites

were to be hit hard There was renew- ed mctivity in the American Strip Bulking, down

five, and Universal visible market with around

o sterling countries was practical- improve Match and U.S. Gypsum, телега

ly unchanged from a year monts nu round around four.

on u higher level of Electronies, though profit-taking

yesterday's best carlier,

showed trade, and almost the whole of the upside, evident to-kroup on

the worsening was with the rest words the elete. losses of around four points in Volume of businesa JBM, Texas Instruments and of the sterling area.

Time. Dupont lost transacted was up-Gezera)

Exports to the sterling area proximately three and Union Carbide

moru countries did not improve until than one to help pull the indus- the end of 1950,

al average down.UPI.

Wus

$3,928,000.

WERKEN BEST

AWino Inventos Eq

DEPORN PASS UDDA

Your Key to SECURITY

AND

INTEREST

•

SECURITY The most important word when you are dealing with money matters. You arc assured of complete Security and Interest at 51% per annum payable half-yearly when you open a Bank Deposit Account with Lombard Banking.

Interest paid mishono deduction of Kiwited Kingdows income taɛ. Write today to the General Manager for your copy of" Bank Deposit Account" booklet No. AQ.74

LOMBARD BANKING

Flander

LIMITED DANKERS

LOMBARD MOURE, CURZON STRENT

PARN LAND, LONDON W.1

„Associated Bank z ~ LOMBARD BANKING (VAR EASD STO

D. BOX 1884, OFCORD FLOUN FINLAYSON HOUSE, MAYFLKE QUAY sikkroke. Talaptons: 138ih

A World Wide Banking and Firmen Dremination

U.S. INVESTMENT

QUOTATIONS

The following are US. In- vestments in American dollars. Buyers' prices include commix- sign:

Aated Fund.....

Am Bus She

Heliers Buyers

7.72

4.00

4.34

Atom Dev Mui

3.14

0.01

Axe lought ...

632

9.00

Etullock Fund

12.50

13.79

Caneda Gen Fund. 13.31

Canadian Ed......

16.43

17.03

Canadian Int Growth

0.35

10.50

Chemical Fa

10.75

11,60

Comw Stock ...

15.12

10.43

Dividend St .......

2.83

3.10

Dreyfus Fund

13.00

15.10

Falon & it. Stoel ..

23.11

20.00

7.60

0.11

10.30

11.20

5.01

5.49

10:40

11.48

10.70

11,70

0.77

0.07

11,71

12.14

Keystone Cust 172..

21,79

20.37

Keystone Canada

12,00

13.94

Mars Iny T....... MARY Growth

12.97- −14,92

13.04

10.07

11.35

0.42

Electronics Inv

Found Aful Fund

Har FHC-T

Tit Found

Joslit Growth

Iratit Income.... Invest Tr Boston..

Nat Sec Ser Growth Seudder St & Ci

Telev

F...

Value Line Fune

V. I. P.

Wellington Fund

Sugar quotas unchanged

London, Mar. 31.

The Internatlərmi Sugar Coun-

In

Of the "very high" net total of £270 milloh long-term capital investment aboard. £89 million wi used in the advanes телі

repay.

of A loan from the export-Import bank and £65 million

ollier Inter- Government loan operations,

ما

WAGE RISE

A second while paper that published teday showed wages and salaries in Britain and the gross national product both rose by three-and-a-half per cent in 1959.

The total et personal income rose by four-and-half per cent.

and

The gross national product- ihe money value of goods

produced domestically services plus the net income from abroad -rose by £032 million

£20,1 million.

The rise in wages and salaries £12,400 was £20 million

million-Reuter.

10

Prices not received

Owing to poor rocop- tion due to sunspots the usual New York stock

and commodity prices word not received,

HONGKONG

STOCK EXCHANGE

Our Own Correspondant

Business done at the Hong- kunk Stock Exchange, this

10 amounted morning

aj proximately $1,141,000, Nova the morning's quotations and transactions:

Shares BANKS 1K Banks

Buyers Sellers

Naler

10045

20 1245

10 1260

INSURANCES Union

100

Lombard

FRIPPING Wheelock. DOCKS, ETC. K. Whert,

Dock

Provident Talkoo

LAND, ETC. HK Hotel 10% Land.

Lockheed's gre

earnings decline

Burbank, Mar. 31. Lockheed Aircraft Corporation's 1959 earnings plummeted to $8,744,000 or $1.24 a share from $18,843,000 or $2.02 # share in 1958, primarily be. calle of less than anticipated ordera

for the Electra Turboprop Transport and the

200 or 44

7 7.30 7007.10

170

57

8€

17.20 17.40

600 Dì

400

11

200 UT 200

494

49

2004015

400 or 405

500 35

215

200 G 499% 2007 4094

200 201

Humphrey's 1.23 19:00 1.39 Realty

TUARER Amalg Trust..... Sungala UTILITIES Train

acú

720 7.75

3.06

4000 7.95 0000 7.79

31 31% 2000

314

1500 31

Star Ferry

Yournat!,

XD

152

104

157

300 & 187

200 104

C. Light

22.90

22.70

Electric

1500 4 27

524 ut 20.90

400

1632 44

UC / DOZ

200

Telephone.

3514

34

200

1000 GA 352

excess of costs over selling prices for commercia; sera- | INDUSTRIALS planes. which amounted to Cement $16,044,000,

30

1000 3024

43 434

500434%

500 G 4335

500 G 43%

20.20 28.40

100 do 21.49

from

Dairy

...

1500 / 20.30 B00 a 20.30

500 of 20.33

Watson

20.00 20.00

100 20.40

1000 4 20.30

500

The annun! report said that STORES, ETC. the loss was registered in the sales risc to face of a sharp

$1,300,505,000 in 1959, $73,050,000 in 1958.

Earnings yer share In 1959 were based on an average of 7,020,102 shques, outstanding Lane, Craw. 32% during the year. Tite 1950 per COTTONS

an Textile share figures was bowed average of 6,435,720, adjusted to Nanyang Issuance of 583,168 reflect additional shares during 1959- Gimen China Mall Special,

SMALL LOSSES

4

A

Gill-edited securites were very Little and recorded qulet change.

In the foreign bond market) Greeks continued to recede and dollar stocks were mainly lower.

Oll shares were subdued unül shortly before the close when the unexpectedly large increase In the Shell Transport dividend brought buyers in of Shell Transport shares whleh vanced sharply.-Reuter.

Closing prices

edged londy

British Transpori 3%. £0444.

Canpol 240-15/10. Consols TUL

ad-

1078/63-

Conversion Loan 3 01.

1000

Funding Loan 5%, 1900/00-£8.

Loan

Amding Glock 31. 1900/2004 -..

Funding 200-6/10.

1000/90--

Saving 3. 1055/80-90-7/10. Savings 3%, 1900/70-£70-13/10 Savings 3% 1965/75-7312

Banks

Barclay's Bank "A" Ltd orch-502 "Chartered Bank-W.

Hongkong-£029).

Lloyd's Bank 63× 96.

Insurance

Union Insurance Canton-6-13/14.

Aircraft and Motors

British Motor Corp. Ord-21 J Ford Malor Co- $160. Hawker Biddeley Group Ord-12

Ltd Ordis dd.

3d.

Rola Fold-10 Kier

Foote

Standard Trikenph International- [ 11 d.

Bewertes

Dillora Co-30s 100. South African Breweries-1s 3d.

Building and fixierials Associated Fortland Cemord-74 10150.

Goodies Wall & Lead Ord-121. Coal, Steet and Engineering Babcock & Wilcox Ltd 40s 1950. United Steel-Tos Di Vickers 1-0 2016.

Food and Tobacco British American Toh. Co., Lt Ka

Imperial Tobacco 101

Co.

Peper

Bowater Paper Corp Ord-725 d.

tadio and Klectrical Associated Electrics)=888. Electrical Musical---65@ 4$41.

allah Electric Co. General Electrio-=3a ed.

shipping

Indo-China Stenen Nav. Co. det P&O Steam Navigation def orde 400 101.

Great

Biores

Universal Stores "A"-D@

Marks & Spencer L10-729. Woolworth F. W. a Co-09a 101⁄4AL

Textiles

Calico Printers"

Association-77

Coats J. & P. Llti-Ks 2011⁄2d. Courtaulds Lid-06 1.

Minn

Cena Goldfaks of South Africam

Con, Zine Corp, Ord-Tis

Beers del-14

2d cor.

donghon” Tinh Di 34ch Petaling Tin-Tu "735d,” Hande E

Bouthem Kinta Cons Lichte. Union Corp 10%

Wert Driefontein Ġoidmining—

100%

British Borneo Petroleum Byndi- cate--83 1.

British

1340.

Burmah Petroleur-A

British Petroleum Co., Lid-576 7550.0

Emah-498.

Royal Dutch Petroleum-£15-13/22, Shell Transport & Trading--154# 7330.

-Heater,

More UK

cotton machinery

scrapped

London, Mar. 31. Lord Rochdale, Chairman of

the UK Colton Board, said tonight more than 97 percent of 900 cotton firms applying for govern ment financial help had redundant scrapped machinery as required by the

Government's organisation scheme.

Lid-catuday has

Attacellaneous, British Oxygen Ltd. Ord $4. Canadian Pecifte Rly

De La Rue Co. Ltd. Ord-6is. Dunlop lubber Co-2 70. Gumao Holding Ltd z 7 Hongkong China Gas-1) n. Dipcial Cherrier II TÀ Lyons & Co.78€ 04. Unilever Luhm1419 02.

Pakistan seeking

Japanese

technical aid

Tokyo, Apr, 1.

re-

This first phase which ended £16 cost between. and £17 million, he said, of which the Government would There is pro- suy two-thirds, vision for an extension of the scrapping perlod beyond tonight for special reasons in individual cases but allowed extensions are and for very short periods would involve only about three per cent of machinery covered by the scheme Lord "Bochdaje said.

DEAD WEIGHT

He added that the removal of "this dead weight of excess capacity"

tho would enable industry to meet the future with new vigour and determination.

A Cotton Board · spokesman sald

work. 00 scrapping machinery had been virtually completed some time ago." Re- ports of a last minute rush to- day were not true, the spokes- man sald-Reuter.

500 a Mr Mohammed Kabu, pre- sident of the Pakistani Industrial Development Corp., sald here yesterday that Pakistan is in need technical Japanese

14 14.20 2000 G7 14.10

MISCELLANEOUS

2.473

€ 54

Allied

No simple answer to

Singapore's trade

Singapore, Mar. 31.

ell today decided to retain the The Government's “solid and businesslike" approach to develop the island's

sugar qualms in effect at the

present level - at 60 per cent

of basic export tonnaged,

A communique insue after

the council's sixth oesnton, Pald

Exchange rates

economy was most encouraging, the retiring chairman of the Singa pore Chamber of Commerce, Mr A. W. Scott, said today. Addressing the annual meet-lopment

was *

In

economic

ment's efforts to Improve · cla-

La

of

EFFECT OF BUDGET ON

assistance for production STOCK MARKET

of agricultural machinery.

com-

Mr Kahn, et a nowe ferenze. specialty imentioned there was need for more trac- fors, bulldozers and irrigation equipment and plant exporta from Jam for the estabilah- of factorks to prockico such machinery.

The Pakistani industrialist is in Japan at the invitation of the Japon Plant Asociation.

FIVE-YEAR PLAN

London, Mar. 31. The Investors Chronicle Markot Now clicr sald today that steadiness

London of the Block Exchange probably re- flects Wall Biroet and good ecmpany News rather MARTI Budget optimism. Judgement on the Budget la being suspended and there is virtually no speculation on like- ly measures, Official concern

of the economic position has clearly been growing.

any

"As the market to discounting Ho told the news conference song stringency, It may be re- that Pakistan's five-year plan | loved" If the Government re- for industrialisation, coding this trains from further controls or year, includeți mechanisation, of higher taxes. Thi agriculture but the second five- leniency, however small, wli year plan, covering 1981 to 1905,robably be well received. would agents on auricul seeins prudent to wait and see, (ural development.

as a considerable weight of in- blitutional inobey is

doing de said Pakistan wants Japan- | China Mall Special.

In board to deal with the counell also decided to re-ing of the Chamber of Comduzirialleation of the island.

dustrial disputes, Mr Scott said distribute anticipates short falls merce, Mr Scott said the Mr Scott praised the Govern- "any legislation of the nature viewed with concern by estimated at about 700,000 tons. problem or Singapore's future -UPI.

trade and what could best betlong with Indonesia. A meent workers and employera alike." done to increase her prosperity satisfactory development was a "Singapore as a commercial esc co-operation that had been and meet the needs of the

large sale textlica to Indone and industrial city and Port given for construction of fac- fortiser. growing population

alo, but less welcome was the cannot afford serious labour un-tories for spinning. "very real one,"

ban on the export of copra to rest caused through pour terms penicillin, extended to diher in-

polally mall with adstries, nur employment. It had no simple answer, no Singapore atul ensing is re-of

could be a valuable competitor such as Hongkong | madium entersæİSEY, ilded. What was needed, was striction a combination of a continued | help, lia nutek.

nearby, can

te naked 'that Japan's co- sho afford prosperDUS

developing Referring to the Industrial come non-compeiitive by acced-operation for Industrialleation in Relations "and Trado Disputes Ing to continually increasing Pakistan be givari lis form of entrepot trade. 10.39

dounds," Mr Scott also stressed the Ordinance which provides for | waga importance of continued dova- the establishment of an arkitra- › Router.

Ettore was down in the best umuthukal exchange ket morning at the tubowing raiew: 1.s, doliere (per #1)...... sueling note, (per 21 Askivan nalou (per E Indonesian rupiah (per 100))

0.73 10.03

Biorb ea (per 100)

And

tu brew

And

be faald investment, like West Garibaby

It

Agreed merchant rates

Canadian Dollars, Maxlenurm selling 18-11/15; Minimu@ri bur« 16-16/10 T/T; 19-0/D,