1960-05-06 — Page 2

Page Z

THE CHINA MAIL, FRIDAY, MAY 6, 1960.

WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE

A

OVERSEAS

MARKET CONTINUES FIRM COMPANY

Strong demand offsets

profit-taking

After

a

record

turnover the

previous week, the stock market opened on Monday with signs of profit-taking which resulted in a slight weakening of prices.

This continuad until veder-j

there were signs of day when revani on increted buying de-

zed.

Twe stocks featured the work. Talkou They are Textiles und Docks.

on

"The former shot up to $11

$10 20

dividend! front anticipation while Talkoor went up to $04 un strong demand from last week's high of 5914 ex-dividend.

Narrow range Utilities moved within a nar row ringe on moderate support white la stores Walzons lacked Supert and both Dairies an Lane Crawfords changed hands at sightly improvest prices.

Britain's

cotton industry

Both Star Ferries and Ynuma- lies were fransacted at better former putting on prices, the $18.

Jittle business in There was Banks white Insurances were left completely out in the cold.

The rubber section was firm

Amalgamated Rubbers with taking the major role,

Lands were in demand at slightly lower prices and Hotels appeared to firm up at the close with buyers ut 381⁄2.

Slip back

Kowloon Wharves after record high of $280 unching a Inst week on rumours of possi ble and sales slipped back to $258 with tile support, Most speculators are of the opinion that although there may bo something in the land sales it wag possible that shareholders! would not benefit by any cash. settlement.

There was little rejoicing in the market over the Gus Com- pany's proposal to capitalise

this 80,000 shares only applied to the old holders.

Market diary

Morecambe, May 5, The British government's Friday:

of re-organisation

the

cotton industry had so far closed 80 spinning sheds and 129 weaving sheds a

textile workers'

said today.

The

officials Monday:

Harold

official, Mr

delivering Chorion, was

presidential address

annun!

thu:

the

the of

Fuctory

sald

conference

Textilc United Workers' Association here. However Mr Chorlton

was

confiden

of the he "ultimate recovery of the cotton

industry, with a restoration in Tuesday:

of its

Gume measure

former

tradition and property."

Referring to the Govern

scheme ment's re-organisation

and the consequent scrapping of half of the yarn producing spindles and 40 per cent of the looms, he said;

SLOW RECOVERY

will be slow

"Its recovery

and somewhat painful, but

will recover,"

it

He said that although the an Wednesday: Thorities claimed that Huile dis- ruption had been caused and

workers were finding other jobs,

it was too early yet to ussess the full effect.

was

which The agreement under employers paid compensation 14

the wuikers

Best such agreement outside nationalised Industries and could have been "a shining example of

(0-

perative effort between em- Thursday: ployers and employed working together for the common good." į

But it was open to much ad- verse criticism and the unions: hud had to Bght every inch of the way to work out a plan to; help the workers.-Reuter.

Issue ahare-

The market was extremely activi during the day re- sulting in a record turnover of $7,900,000.

over

The market was aclive

with Villi-

ties and Textiles in demand.

Docks,

Cements and Star

Ferries were en-

at quired for bigher prices. Volume of búnness was again over the $7 million mark.

market

HK Bank Lombard

Union

Apr. 28

1275

45340

at

Up or

Down

35

glance ✰

Dividend

& tonus

REPORTS

New York, May 5. The United Aircraft Corporation has reported that its net income in the first quarter of this year declined to $6,431,233, or 95 cents per common share, from $8,033,515, or $1.20 in the corresponding 1959 quarter.

Shipmenta of the company new plants this year, Mir Joel S. Mitchell, the

and Ita

subsidiries

rose to $273,80-1,687 from

★ The

share

"market

Mar. 31

Apr. 7

Apr. 20

May 5

Yield (%)

1235

1280

1260b

1270

$48

3.0

45

44b

45b

40346

+11

$2

4.8

มิก

ось

97%

96.

05

-$1

$3,40

3.8

Wherlock

7.10

7.25

7.35

· 7.40

7.40

steady

250

3.5

BK Whar

11

180 xd

180

278

250

-$30

SA

3.4

HK Dorks

Bixi

100xd

110

118

119

+++34

210

8.5

Talkon Durks

4014

34

0214

3914xd

6344xd

+$4

$2.80

4.6

Provident

12.40 +

18.10

10.40

21.40

21.00

+20c

$1.10

6.2

1 Hotels

3512

3C

30

3734

3944

+$1

$2.50

6.3

1K Lands

45

58

00

501

-500

$2.40

domestic

4.5

1.70

1.73

1.75

1.875

1.975

HK Tramy

314

32

3114

324

33

+100 +$1,25

Me

8.2

22.05

$230,278,610.

6.2

The report

Star Ferry

152

153

1530

102

180

+918

5

Youmatis

16D

371

1706

180

181

+91

$8.50

4.8

Ch Light

23.70

23

22.80

23.00

2334xd

-100

$1.10

percitures

4.7

Electrics

27

2734

2714

28.20

20.10

+90c

$1.90

0.0

HK Telephone

30

3014

3614

3714

3011

+$1.25

$1.75

4.5

431

44

4214

4434

477/

$2.75

34

8.4

26.30

27

20.40xd

28.10xd

281

+40€

$1.85

6.5

26.70

27

28.60

28.803

28.80%

sicady

$1.50

5.6

3124

38

2434

30

3631

+75።

52

5.7

at the beginning of the

8.20%

9.20

8.20

8.55

8.25

+20c

Güc

7.5

0.80

*

7.80

7.35

8.00 xd

-$1.05

$1.25

quarter, the report

16

154 xrt

15nom

0

15.20nom

8.50

15b

16.00

+60¢

60c

5.7

Ching Mall Special.

14.10

10.20 15

11

+ ROC

640

6.4

* ★

51.10

147

JK Realty

G. I. Cement

Dairy Farm

A. S. Watson

Lane, Crawford

Int'l Investment Allied

HK FE Inv Textile Corp Nanyang

HONGKONG

STOCK EXCHANGE

by

Our Own Correspondent

ap-

Business done at the Honk- kong Stock Exchange this moming

to amounted proximately $2,010,000. Noon quotations and transactions;

Sharea

the mornin's

Buyers Sellers Sales

RANKS

1261 1260 1270

INSURANCES

1415

3.40

7.40

260

1201

110

+2

63

3

..

ETC.

SHIPPING When lock

DOCKS. K. Whart... Dock Provident

Talkoo, XD..

LAND, ETC.

HK Ho...

HK Land

Cat

Heulty

HUBNER Amalg.

Trust

UTILITIES

Trom

Star Ferry ... Yaunali C. Light X.D.

.....

After opening gen- crally steady the S. Kelantan

Singala..... tended to drift lower on signs of profit-taking. However the tempo of the market re- mained unchanged with buyers pre- dominating at lower levels. Turn- Dver was appro- ximately $5,500,000. Due to light-seale profit-taking. the market during the half

session

لا نظل

Electric***

Telephone

J-

ik Gas.... INDUSTRIALS. Cement

continued to lose STORES, ETC.

some ground with Dairy

buyers tending to

wail for lower Watson levels.

Turnover

Lane, Craw, Kwong 3

was considerably lower at $2,430,000. cOTTONS

Textile

Niyang X.D.

The market

op-

pented to improve with

interest cen-

tred chiefly on Tai-

koo Docks Volume

of business was up-

༩ ངྐོཊྚ 3རྦནྡྷནཱ ཕྱོ ཕྱོ སྒཏྲིཾ ཤྲཱ ཎྜནཱཾ ིི རྞྞ ༞ ་ཎྞཱ སྦྱི བའྱི

21.00

33%

1912

0.90 14.70

13.70

1534

+500

Wall Street NEW YORK

declines on slow trading

New York, May 5.

After two days of advances, the stock market

declined today. Trading was slow.

The market was mixed and Johns-Marwille Co... octive at the opening. Prices declined gradually in afternoon Irading.

At the close the decline had just about erased pesterday's modest advance.

motors

Scels and

lei decline. They were joined

coppers, petroleums, and most

COTTON MARKET

New York, May 5. Cotton futures trading to- day proved to be exceed- ingly quiet.

Closing prices ruled seven lower to 15 ~points-higher.

New Oricans elosed changed to up 10 points.

Un-

lower said the

Chairman, sald.

Mr Mitchell told the

annual

errengs rollected, increased ex-meeting that the company's pro- A margles have continued to engineezing and

c aitri- Improve this year. development projects carried

buted the Increase

the Bigher effetency implicit in new

Without confuetun! support.

to

THE volume of Contiracis, facilitles and to greater physical volume in all Standard's major

Piers Mid Government letters

if talent on March

01

Was

about $1,000 million, the saine

product lines.

that had

The company reported Ils first quarter earnings udded.expanded from 58 to 04 cents

Detroit, May 5.

per share. Mr Mitchell said the Gutionk" for continued long-term growth abroad was good despite luctuations in foreign currency.

Chrysler, Corp reported that China Mail Special.,

its dealers sold $2.929 cars in April, up from 92,708 of March, which had one additional selling day, and well ahead of the 70,368 of the year- ago April. Chrysler also

salt it was

and

stepping up its production schedules this month and next. About 43,000 cars have been Indded to the programme

about 203,000 cars will be bullt May ni June against 102,- 807 in the name months last year-China Mall Speela).

For the eighth time in the i history of the New Orlean's

Colton exchange not

trade was made.

★ ★ *

New York. Mny 5. Standard Brands Incorporat- ed plans to put $8,200,- 000, roughly the mount it spent last year, into

a single U.S. INVESTMENT

Locally, small evening up in

the expiring May delivery, and switching from May to the later positions, provided the main

Ln interest

otherwise featureless market.

50

Kaiser Katastrica

1.1

Lowenstein & Sons. McDonnell Mirerett Merck ........

Lily Tubp.*...****

& Myers Tub, Co.

412%

21

30

每

Maison Brewery Monante Chemical C».

39%

National Biezuit Co.

National Steet Corp.

13

the

Noranda Mines Ltd.

30%

by

Norfolk & Western y.

100

North Amer. Aviation

3012

Northwest Airlines (Com.)

Fin

Oktahama Nat. Gas

Oxford Piger Du,

Penney. C. Co.

£1991;

Penn. Ball Co.

Puney Bowes

notices No deliveTY issued today at either York or New Orleans.

A

Procter & Gamble Co.

Pullman

712

closed

Radio Corp. Pref. Raytheon

Royal Bank of Canada

3

0712

Royal Dutch

38

Rheem ME.

10x

Seum, Roebuck & Co.

total Ettison

331%

of the chemicals and electronics. Tobaccus and drugs were mixed.

WIDE DECLINES

Most losses ranged from few vents to aroung one dollar share, but there were wide

the

39)

55.40

25.49

J.975

19.3

7.55

ta declines

2.5

5.10

פט.!!

9.10

XI.

182

183

181

23.40

27.40

2345

20

د را حنان

14.40

4716

heghier among priced and more speculauve issuus.

Or 1,196 issues trailed,- 555 declined, 309 advanced and 242 were unchanged,

Votume declined to 2,070,000 shares from 2,870,000 shares traded yesterday.

The decline was regarded as 20.0 technical as Wall Street became the two-day re- 20.10 cautious after

3914

Olin Mathieson

Shell Of Co.

Safeway Stores Slegter Corp.... Sune & French

Aircraft

Southern Co. (The)

Southern Hallway (Com)) Sperry and

Steel Co. & Canada Sicep

Fork Stone & Webster Sunshine Mining Textrar. Ine... Thlakol Cham

to

Traders Finance Tri-Cent Warrants Union Oil of Chl,

covery from the year's lows. The market appeared 14.40 ignore news that usually would This included the influence t

by Soviet Premier

471% speech 47 Nikita Khrushchev in which he 47% said the Russians had shot down

U.S. plane.

2012

20,30

231

20.AU

*28.70

30

stocks

The aircraft-missile closed mixed. Other news was JAS of sharp gains in U.S. car sales

and a rise in production

this

American Motors continued as the most active' stock, second

phone...AP.

Closing Prices

week. Motors declined.

11.20

1 t

11.10

16.60 150

19,60

15.70

was Fairbanks Whitney, third was International

und

Tele-

15.50

MISCELLANEOUS Gilinors...

2.40

2.40

1

U.BG

Aыtbl Pwr. & Paper

4,90

Aluna Steel Corp.

Allied Mitts Ine.

A. Brake Blon

American Cyaneals Co.

proximately INVESTMENTS 56,852.0001

Int.

Allied X.D. IIK. & F.E.

Invert ents

10.40

4

US Steel 7 BC. PF. Weetinghouse Alt Drake West Va. Pulp & Paper Winn-Dixie Storen

Zenith Radio

QUOTATIONS

The following are US. invest ments in American were Buyers' priers include

Newston:

The Liverpond market 102, unchanged to up 10 English

points and 459 to 668 American points under New York futures.

Amitated Fund Aw Bus Shrs Atom Dev Mul

Axe fought

Buhock Fund

Cad Gen Fuxi

Kaw cultom exports for the Canadien 15: Gra

Canadian Fi

5,575,825 bales

bales to the

39 against 2,200,401 31% same time last year, according

102

Yesterday's Closing

to the New York Cotton Ex-

|change-UPI.

Exchange rates

231111249-2:

arlegtות

Chemies Fa

Comwith Stock Dividend Sh Dreptus Fund Eaton & If. Stock

Electronics Inv

dollars. commis-

London

New

closes

weak

London, May 5, warnings of tighter cralit unsettled the Lon- don stock markets on Thursday, with. sellers calling the tune,

Government bonds lost their recent buoyancy and fractional losses were reorded. There were occasional small sales,

The industrial market, too, ruled uncertal and very sen sitive to small selling. The leaders moved erratically with losses widespread on balance.

More smalt selling was rc- Selera Buyero ported in gold shares which remained mostly dull. Copper and oil shares were quiet but Lins improved in response selective demand.--AP,

Closing Prices

British.

Cleared Bonds

to

Transport 3, 1978/03- Cunpota 2-Cia.

0.07

7.09 7.07 4.03 430

3.53 B1.10 1.49

12.10 13.30

12.03 13.0

10.09 17.41

53 10.31

10.03 11.00

14.90 10.20

2.62 3.00 13.94 13.) 23.10

24.360 7.60 0.42 10.31 11.21 1,45 9.70 11.01 13.04

4.10

5.24

Funding

14.35 11.33

£825

10.50

11.50

Funding Stock

6.29

6.PA

£69

1037 11.00

Keystone Cust 2

21.33 223.27

Canada

Anis

Mm Jay Tr

12.94 14.00 1201 13,03

Maar Growth

Studder HL, & Cl

WAS dens in the teal Unofficial explansze morning at the following rates: U.S. dollars (per $11 Sterling notes (per £1)

| Australian notes iper £1

Indonesian rupiah (per 100) Sin Deal (per 100) Singapore (Straits)

13.99

Found Mut Fund, Pand Invern Group Com Steck Ham F IC-7

Irati Found

In Growth Instil me

Invest Tr Boslan

5.

12.02 Telev Si Fd..... 1.43 Value Line Fund 23.05 V, L. P...

1.80 Wellington Funct

Nat See Ser Crowth

14.05 15.10

#.34 0.11

אל ח

.18.10.38.16.

7.09

0.36

6.10

1050 11.50

13,63 14.60

COMMODITY PRICES

LONDON

Closing prices all in sterling

RUBBER

per long ton:

Tin

Spot 3-month Cupper

SUGAR

NEW YORK

all in centa

Contract No. 4 (world) July: 3.08; Sept: 3.15; Oct: 3.17: Fat: 2.28; Mar: 325: May:

Spet-(P.A.S, Cuba): 306.

Totel Salen; nine contracla. Open Interest; B.171.

33

Buyers Sellers

41% PL

701

TEG

54

707

76715

Baxd

511

SINGAPORE Closing prices all in

Spot

200

32%

No. 1

May

Junc

1344

No.

2 May

Straits cents per 16. fo.b. Malayan ports: 12714-12716

122-127

J-month

24032

2400

Tud lat bait

May

2714

Closing prices

AUR

ክር

12112-1212 Zine et huf

May

per ib.

54

04%

318%

Nu. E

May

113-119

AUR.

0124

60%

No. 4 May

12632-11574

--UPL

50

Spot rubber baled

127-177

442

Blanket trape

114-118

231

No. I pale crepe ....

129-130

LONDON

Benguet Cons. ...

Closing prices all

in pence

Boeing Airplana

2491

| Bonden (The) Co.

4715

per lb.:

.

Burroughs Aud Machines

33

No. 1 ton spot

25-30

British Amer. Oll

BIP

Bettlement boue term:

May

$74:-30

April/June

353-3032

July/Sept.

34-343

50%

Oct./Dec.

34-3536

1616

Jatt.Mar.

33-3316

General marketo, e.t.t. Unets, ports:

30 May

37-3734

July

30-3814

Estále crepe thin May

2011

Blek May

30

UPI.

P&O

R.M.S. "CARTHAGE"

EMBARKATION NOTICE

For United Kingdom via Singapore, Penang, Colombo, Bombay, Aden, & Buez-Port Said.

EMBARKATION: Passengers should embark between 2.80 and 4.00 pm. on Friday, 6th May, 1960.

The ship is expected to sail at 5.00 5.m. on Friday, 6th May, 1900. Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 gato) by 5:00 p.m. on Thursday, 5th Máy, Thao

SUBJECT TO ALTERATION

Rubber

market review

Singapore, May 5. With sharp advances over- seas the market opened very stendy with buyers of May No. 1 Res pre dominating.

Am. Cable & Radio Corp.

Amer. Forn. Power

A. Gun & Electric

Am. Home Prod.. A. Natural Gu Ain. Sugar net. Amprx

Asbestos Corp. Baktwin-Lima-Harn. Bank of Montreal

Dank of Nova Scotia

Beech Lite Bayern

Bell Telephone

Henelicini Finance

Bendix Aviation Corp.

British Columbia Fiec Callz. Packing Corp. Cana. Bk, of Comf Campbell Soup Co.

Case (1) Co.

C. I. T. Mancial Corp.

Manhat Bank Cluett Peabody Colombian Carbon Co. Colidated Paper ... Continental Can

Shortcovering took price to Continental Off of Del. 1273/ when proit-taking Delaware & Hudson Co. stemmed advance,

Diamed Alkali Diamond Gard... Dominion Biorea The afternoon's trading Was Eastern Air Line described

wátis } El Paso Naturst Gia ....... nervous pattern frequchtly obxrbed by Firestone Tyre & Hubbor

Gatineau I've and Junc differential deurge Pack. May moving erratically.

Lowers were in poor damapurgas Horthern away....

with torios very quiet

Prices ontloc the day changed from noon,

In London, the aalbor market was barely

stently with ducted at Ja3⁄4 potiče-UPI.

BAILS:

BAGGAGE:

METALS

11.30

COTTON

NEW ORLEANS Olusion prices.

per lbs:

all in

Spot: 340 nom: May: 33.22; July: 33.70: Oct: 30.85; Dea: 300g; Mar: 31.21 May: 31.05; July: it; Oct 30. Dre: 30.03: Mor: 31.40

SAO PAULO

(Cloning prices all in cruzeiro per kilo: All unquoted,

Average price In U.S. at 14. markets: 2101 designated spot

(available..

Toli raden: 23,770 bales,

LIVERPOOL Cloting price

pence

1.40;

Contract No. 6 (domestic) July: B07: Sept: 0.91; Nov: 384; Gust (C.14. NY, ex-duty); 5.05.

Total Sales 12 contracts.

interent: 3,328

Open

upi.

TOREIGN DXCHANGI

NEW YORK

Closing rates: England offelaj Engin po-(£ma`n

"Others unchanged.

LONDON

Closing rates New York

Montrent Austendai

· Copentingen

all In

American Contract May/Juno: 22.00; July/Aug: 12.20; 1130 Oct/Nov

23.10; Dee/Jan; 02.03; Mar/April 22.05; May/June: 22.05.

Mixed Contract May/June: 12.20 July/Aug: 22.20; Det/Now! 2203; 1200/Jan! 21.00; Milan 31.50 Mar/April: 22.40; May/June: 22,49 | Vierra 29.49 UPL

Gen. Tel. f Elec. Gen. Tyre & Hubber Goodrich (B) Co,

NEW YORK Closing prices, all

In cents per 1.

per 1:

Grumman Adverart 2... dull o

Lond

May

1 Hammond Organy

July

Heyden Newport Corp. Hompestace timing co. Haberran Rstig.

116

Zine

May

July

spot

idaho Power

Copper

impestad O

Iritarrativezak Paper

Jul

1140

Frankfurt Parts Stucklandin

Consuls £71-0/10, Cuirverston

Looi 311⁄2 7009

3%, 2050/07-

3167. 19/2004-

Funding Loan

£90!

34.

1000/EK

Savings 3, 1935/05-EM-7/10. Savings 3. 1960/70-£BOY. Savings 34, 1966/75-£73-13/10.

Banks

Barclay's Bank "A" .td ord-63 Chartered Bank- 20

Hongkong-Rot.

Lloyd's Bank "A" &• Cu.

Insurance

Unton Insurance Canton-£5%.

Aircraft and Metars

British Matur Corp. Ord-19, 1950.

d.

Fort Motor C-194;

Bowker Siddeley Gruga Ord-20s

Rulls Royce Ltd Ord-

Router Lid "A"-106.

31.

Sluncurd Trainpis International

134

3d.

0

Breweriez.

Distillers Com 3411 7150.

South African Brewerie-2 d.

Building and Materials

Asociated Portland

Cement-

Goodiars Wall & Lead Ord

Coal, Steel and Engineering, Babcock & Wilcox Lid-35# 1158. Thited Stool-73 d

Virker Lid-2m $15.

Food and Tobacco

British American Tub. Co., Ltd-s

Imperial Totacro Co. LW-625 60,

Minesilaneous

413.

Itoardman Maider: Lid- British Oxygen Ltd. Ord-47 I. Canadian Tucile y

De La Tus Co. Ltd 'Ont—024, Bunton Rub

C-20% 31. Glunan Hakling

£18--23 740..

Tiongkong & China Ges-154 n. En Chedical-35% 04. Lyone & Coon . Unilever Ltd-1414 30.

Paper

Downter Paper Corp Ord-031 03, itadio and Electrical Electrical & Musical 408 34. English Electric Co-30 cd. General Electric-30%.

Shipping Indo-China Steam Nav. Co. der ord-24 1.

PO Blenm Navigation del ord- 30 Bt. .

ktores

Great Universaí Storer, “A”~40# 7160.

Mark & Spencer Lld-70%, Woolworth 7. W. & Co-40%,

Textiles Coat J & P til 939, Courtaulde Z44–60 1954,

Mines

„Cone Goldfields of South Atries— 05% 03.

Con, Zine Corp. Ond-73

20070

De Beem de

2.3030

Jongkong — 4!{0} *

Petaling Tin-Ba.

Ranch-ta 1011⁄2d,

Poulom Kinia Cone Tech- 24. Inion Caro-034 fel.

Went Driefontein

48

Goldmining-

Ifritiel Borneo Petroleum Byndi-

17Dw

230 13/10-2.80 20/10

2.ALL-FRIEN

10.6-0.99

18.3754-19.574%2

11.30-18.703

14 con 14,37

· 1747;14~17€3{|

73.12/10.10

---VPL

Belfins Burnunt; Petroleum-2A. Titik Petroleum Co., LIB

Tut{{o}}~~1%n fick.

C

Bul.

Feli⠀⠀ Transport & Trading--ENGI

-Reuter,