1960-05-13 — Page 2

Pare

THE CHINA MAIL, FRIDAY, MAY 13, 1960,

WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE

ANOTHER MARKET BOOM

Heavy buying leads to

record turnover

Heavy buying resulted in yet another record turnover at the stock market yesterday when business at the close amounted to $11,742,000.

but

Most counters were traded at Improved prices although changes were comparatively small.

There was heavy trading in Banks

the most of shares changed hands in direct business and at current prices.

Unions

have been which neglected for some time came in for a fair shore of trading and looked strong at the close. Wharves after dropping to $240 at the outset took a sharp "rise to $248 at the close on

good demand.

There was little price change"]

In stores Dairies gathered atrength throughout the week

and closed at their peak of $31. Lane, Crawfords took a sharp rise $43 from $39 in one day.

Watsons, neglected for some time, also came in for some de- mand.

Textiles although transacted in volume showed 110 large change in price. Nauyangs im- proved on the week.

Market diary

in Wheelocks in spite of the Friday: large volume of business done,

Interest spreads

Hongkong Docks a favourite for some time, went up to $128 but demand waned as buying interest began to spread to other counters.

Providents were extremely

strong thoughout the week and Monday:

a persistent demand pushed them

up to $23.40.

Hotels went up to $46 on strong demand-a rise of $8.50 on the week, but eased off slightly to $44.75 at the close.

Lands cume in for heavy trad- ing and went up $05/2

10 Profit-taking at the close result- ed in a drop of a dollar,

Utilities which have been lagging behind the rest of the market for some time came back into the picture strongly. Lights, Electrics, Trams and Telephones were outstanding.

Cements improve

W29

now

Tuesday:

Cements improved consider-Wednesday: ably with news that the com-

installing раду machinery to improve output. Interest was further enhanced by rumours that China and Taiwan have stopped exporting cement

to the Colony.

Exchange rates

The market was vory active during

the duy resulting

а large turnover. Interes! centred chiefly on Talkoos, Lands and Cottons. Turnover was a0- proximately $5,672,000.

There were wide- spread gains in a

day of active trad-

HK Bask Lombard Union Wheelock HK Wharf

HK Docks

Provident

HK Hotels

HK Lands

Dividend

★ The share market at

a glance *

Apr. 7 Apr.20

Apc. 28

May 5

1280

12600

1273

1870

May 12 1290

Up or Down

& Bonus

Yield (%)

+$20

$48

36-

44b

45b

4814b

66%b

47340

+31

4.8

92b

90

93

91

$3.40

3.8.

7.26

7.35

7.40

7.40

7.30

-100

250

3.3

1801 x

189

278

258

248

-$10

58

3.8

109xd.

110

115

119

126

+$7

Sto

8.5

Taikoo Docks

54

.3214

594xd

6334xd- 65%

++$2

$2.80

18.10

19.40

21.40

21.60

29:40

+$1.80

51.10

34

2016

$114

28

-$8.25

$2.50

58

875

66

5914

6434

$2.40

HK Realty

1.75

1.75

· 1.875

1.975

2

+2160

150

HK TTAS

32

0144

3234

2334

10

++750

$2.05

Star Ferry

153

153b

102

130

182

32

$9

Yaumatie

171

170b

180

181

180.

$5

38.50

Ch Light

23

22.30

21.60

284xd

2410

+60c

$1,10

21%

27

-28.20

29.10

3014

+$1.15

51.90

864

3414

$134

281/

4033

+$2

$1.75

G. 1. Cement Dairy Farm

424

447%

47M

8434

4-$4.25

$4

27

26.40xd.

28.19xd

28%

31

$3

$1.85

21

26.60

28.80%

25.10

295

$1.50

Lane, Crawford

33

$414

26

4234

+35.75

$

Inty Investment Allied

8.20

8.20

6.55

8.75

.8.20

+450

656

7.80

7.95

6.90% xd

6,859

--5€

$1

15pom

15.20nom

15b

15.80

18.10

+50

000

5.90

9.80

1070

13.70

10.20 15

11

11.20

+200

650

1814

15.80

+30c

$1.10

Electrics

IIK Telephone

A. 8. Walson

HE FE lov

Texile Corp Nanyang

HONGKONG

STOCK

EXCHANGE

by

Our Own Correspondent

Business done at the Hong-

Exchange particul-kang Stack

ing with Banks and Cements

this

arly in demand, morning amounted to approxi- Volume of business mately $6,220,000. Noon quia was approximately tone and the morning's trans- $6,958,000.

The stock market! continued brisk and maintained, its firm undertone in spite

actions:

Shares BANKS

HK Bank....

of persistent profit- INSURANCES taking. Strong de-

mand resulted in a

turnover of $6,651,000,

44

++20€

CERPNÉE CARCEL CEEEEE

Wall Street advances

on active trading

New York, May 12.

The stock market advanced again today and trading was active. The market was slightly higher and active at the opening following yester- day's late rally.

Gains

wern

widened

in Du Pont de Nemours Eastern Air Lines

the first hour, remained steady around noon, then resumed the climb in afternoon trading.

Prices, were around their best

Buyers Sellers Sales of the day at the close, and i: was the market's best rise in 1205 more than a week. 1300

1290 1295

Most gains ranged from a few cents to around two dollars a shore, but gains ranged to more than $12 a share among higher priced and more specula 7.35 tive issues.

Unton XD....

91

22

Lombard

4705

Wheelock

7.30

7.35

DOCKS, ETC.

SHIPPING

Bullish sentiment K. Whart prevalled In the Dock market

in trading during the

halt

brisk Provident ....

day

session Tuskoo Dock with a few rates LAND, ETC. soaring

new! HK Holej .... highs. Turnover

ضا

Utilities and stores Realty verder led the rise in a

day of record RUBBER

business which

Amalg

* * *

194

23.30

Steels, motors and electronics

Food Machinery & Chem. Ford Motor Co. General Dynamics General Electric General Mills

Eastman Kodak

General Motors General Telephone

Pennéla Factile Corp. Getty or

eiette Co.

Goodrich, BF, Co. Goodyear Tyre & Rubber Grace. W, R. & Co. Gulf Oil ingersoll Rand

In 1 Business Mach

Int'l Haryester

led the rise. Rubbers, airlines, Int'l Nickel

125 rails, drugs and most chemicals 23.30 joined the rally.

129

Inly Paper

inti Te & Tel

Petroleums, Jones & Laughlin

23.40 building materials and coppers

Ot 1,201 issues

traded 651 declined, and

43219 were unchanged,

65% closed mixed,

4311⁄2

44

434 advanced, 331

13

63%

6311

28.70

1.975

2

25

9.35

Volume rose

to 3,220,000

20.30 shares compared with 2900,000

shares traded yesterday.

2.025 The volume was the largest

since April

6 when 3,450,000 8.40 shares changed hands.

8145 Ten of the 15 most active

89

935 stocks advanced. Three declined

and twe were unchanged.-AP.

Kaler Ajumis Kennecott Copper Libby Ovens Ford Liggett & Myers Lockheed Alre. Loew's Inc. Lone Star Cement Lorillard, P. Co. Marshall Field Martin Co.

May Dept. Stores

Merck & Company

200

272

Paramount Pictures Pennsylvania RR 111 Pepsi Cola

456 Przer, Charles 664 Phelps Dodge 42% Philip Morris 69*4 | Phillips Petrol 243% Pure Ol

439%

Quaker Oats

8214 Radio Corporation

564 Raytheon Mig

44.

13

44

2716

4213

432

London, May 12. United Kingdom steel output in April, which was affected by the Easter holidays, averaged 478,100 tons a week compared with 485,100 tons in March and 387,300 tons in April last year, the Iron and Steel Board announced to- day.

Pig

iron output

averaged 310,600 tons. a week compared

with 312,300 tons in March and 231,300 tons in April last year. The Board reported that total demand and supply for steel in

the first quarter of this year balanced at 6,600,000 ingot tons against 4.8 million in the first Home con- quarter last year.

sumption quarter

first

during the was provisionally estimated at 5.3 million against 4.3 million tons in the

Tons

Arst quarter of last year.

In addition, the change from running down to building up of stocks had accounted for an extra 500,000 tons, the Iron and Steel Board said.

Steel production would be increased during the course of

London

closes steady

London, May 12.

Conditions were generally

the year as a result of the buoyant in stock markets starting of new capacity but today.

this would be partly offset by

There was some expansion

the seasonal decline in output in the demand for industrial

during the holiday period,

There might also be some

shares and with stock in short

Steel Theres were prominent

reduction from the current highsupply pelees went forward. level of exports, partly because with gains between one shilling

of

increased competition and

partly because of the increased and three shillings.

Gilt-edged securities were At the same quiet and firm with buying con- home demand. time, imports were tending toned mainly to long dated stocks, Increase. China Mall Spedai. Tobaccos and breweries were

in good demand and stores went ahead but Marks and Spencer lost a few pence,"

at

New York, May 12. Net earnings of Interna-

Gold shares went ahead tional Nickel Company of first but there was no follow Canada Limited in the through and the advance first quarter this year halted. Coppers reacted after a good start and tins were quietly totalled £21,932,000

Ärm.

against $16,984,000 in the

was

Oils had a good day with

same 1959 period, the some of the leaders several company announced to- shillings higher.

Foreign bonds were mixed. Rubbers were firm but dull. UPI.

day.

12% Republic Steel

60

Reynolds Metals

70%

J1

Reynolds Tobacco B

573%

Royal Dutch Petrol

334%

29

30% St. Regis." Paper

50

32

cents per common

301

April

Sears, Roebuck

65% Shell ..... 4803 Shell Transport

Sinclair Oil .......

105% Socony Mobit Ol

100

4

Seth Am. Gold & Plat South Cafforis Edison

633 Southern Company

444 Bouther Packic

771% Sperry Rand

54% Standard 'Brands 709 Stand 011 California 2015) Stand Oil Indiana 254

36

Stand Oll New Jersey Stand Oil Ohio ........... Studebaker Packard BIK | Texas Company 40% Thompson Ramo W. Tidewater Oil

46

884 Twenty Century Fox

Monsanto Chemical

Minneapolis Honeywell

164

41

Montgomery Ward Motorola Inc

runs World Airlines

Union Carbide

44% Union Oil California 168

Union Pacific

57 | United Aircraft Corp.

National Biscuit

National Cash Register

58

51

National Dairy Prod.

National Distillers

United Fruit

US. Industries

28U.S. Lines

The results were equal to 85 share after

201 the two-for-one stock split in

Earnings in the...1959 quarter were 58 cents a share 571% on the same basis. Earnings

197

Anal

were $28,935,000 in the 21% quarter last year or 92 cents A 42 share.

41

3614

41

Closing Prices

.

Gilledged Bonds

British Tran

50

teas

1770/83-

Cuusola 215%-247-7/16.) - Conversion Loan

Nickel deliveries in the first. at record levels, quarter were 47 the company said, with the rate. 10% higher than output. Supplies

704

1859/60-

25231.0

Funding

Loan

2905

conTM

Hanics

*, Kading Block 311⁄2, 1999/2006-m

Funding Loan “ፊ

Savings 3%. 1968/63-293-13/16, Savinge, 1980/70-£80% Bavings 2% 1765/78£749.

Barclay's

1900/80

were augmented by nickel - 0114 19quired or reduction of the U.S. 37% Government procurement

13 tract obligations.-China Mall

Special.

128

40%

was approximately

HK Land

$6,577,000.

Humphreys

Thursday:

Business was done

in the local

unofficial

market exchange

this

6.30

B

moming at the following rates:

US dodars (per $1)

5.76

Sterling notes (per 21}

15.90

Australer notes (per 21)

12.70

Indonesian rupiah (per 100)

15

Siam Cicals (per 100)

25.06

Singapore (Stara/25}

180

resulted in a turn- over of $11,747,000. Banks were dealt In large numbers at Java-Consol,

Sungula unchanged rates.

Trust .......

915

9.55

85c.

524

UTILITIES

Tr

34

34

Allied Chemical & Dye

#484

Alla Chalmers

街

Northwest Airlines

3414

3411⁄2

Aluminium Lald

90%

31

Star Ferry..

Aluminium Company

BU

Olin Mathieson Chem.

444

Yaumatl

180

185

Amerade Petroleum

Pacific Gas & Elec.

60

Woolworth. F.W. Co. Do Youngstown Sheet & Tel

American Airlines

19% Pacific Lighting

180

.107

American Can .....

37

C. Light XD

24.20

24.40

Americen Cyanamid

3632

Pan Am Airways

41% Zenith Radio

17

999%

24.30

American Smelt & Refin,

24:40

American Sugar

Electric ....

B

30

12.40

3012

Closing Prices

2414 Amertem Tol & Tel

American Tobacco

30 3014

4034 41

30

Anaconda Company

Armour & Co. Asselsley/Dry Goods 304 Atiemie Bening

Baltimore & Ohio

40%, Bendix Aviation Bethlehem Steel

413%

1420 Boeing Airplane 14.30 Barden Co.

Borg Warner

64 Bridgeport Bras

Burrough Cur Canadian Pacific Rwy.

...

20 Case, J. & OO.

Celanese, Corp. Am.

30

Walcon

Lane, Craw...

*1

COTTONS Textiles

10.80

29.40

42

Chrysler Corp.

41% Cities Service

11 10-30 Consolidated Balcon

Nationa! Gypsum

National Lead

New York Central

North Pacific By

Otto Di

16 U.S. Rubber...

U.3. Smelt & Refn

s. Steel......

39Warner Bros Pictures

2013 | Western Union Tel.

Westinghouse Electric

Yesterday's Closing

COMMODITY

London, May 12. Standard-Triumph Interna- tional declared an interim dividend of five percent as forecast. There was no interim for the previous year, only a single divid- end of 12 percent.-China Mail Special.

PRICES

Mary July

in peace Estate crepe thin. May thick Mary AMSTERDAM

14.20 14.40

INDUSTRIALS Cement .....

STORES, ETC. Dalny

54

54

5416

30

3012

Cerro de Pasco je

Chesapeake & Ohio By

METALS

LIVERPOOL Closing prices all per ib:

American Contract

May/June

Coca Cola Company

4314

July/Aug

42

Colgate Palmolive Commonwealth Edison

5721

NEW YORK Closing prices, all in cents per

Oct/Nov

Dec/Jar.

11 Continenial Oil

442 Lb.:

Mar/April May/June

11.10 Com Products Co.

Lead

May

11.40

Mixed Contract

Noyang, XD MISCELLANEOUS

201

11.20 Crane Company.

4831

July

11.53

May/June

15.00

15.60 Crown Zellerbach

Zing

May

11.40

"July/Aug.

22.40

15.20 Curtiss Wright .....

17

July

11.58

-Oct/Nov

27.45

Vibro Gilman

15-35

Distil Corp. Seagrams Douglas Aircraft

Copper May

29.30

Dec/Jan.

2991

July

29.50

Mar/April

22.40

21⁄4

LONDON

May/June

22.40

INVESTMENTS

NEW ORLEANS

Int.

9.30

9.20

Allied

6.70

H.K. & F.E.

Invest.

15.80

10.10

-10.10

102000

4.40 (129)

MORE and MORE

PEOPLE ARE OPENING

17

52

BANK

DEPOSIT ACCOUNTS

with

LOMBARD BANKING

SAFETY-NO Capital Depreciation-Your funds remain at your disposal.

INTEREST is calculated on a Dally Basis

SECURITY

Le. your money is earning interest from the day you deposit until the day you withdraw.

SECURITY — The Bank's Capital and

Reserves

ASSETS EXCEED £100,000,000

Interesi paid mishond deduction of United Kingdom tacoma tax

Write today to the General Manager for your copy of

*Bank Deposit Account" booklet No. AD.74

LOMBARD BANKING

"LIMITED' BANKERS

· LOHRÁNO MINISE, ORIZON STREET

"LOMBARD BANKIER (FAR FAST) LTD

A World-Wide Basking and Planes, Organisation.

Macac E. Telephone

HK Cas

NY sugar market

New York, May 12. World No. 4 sugar futures to day closed unchanged to three points lower, with mies of 218 contracta,

Domestic No. 6 auger closed four lover to one point higher with sales of 308 contracte.

World contracts" encountered carlier steadiness, but overall activity was rather routine, sugar traders. Edd.

Dow Chemical

Rubber

market

review

Singapore, May 12. Overseas advices were higher but at the opening sellers predominated and after fair business at higher levels eased slight ly on profittaking.

..

Lower aboete were neglected.

The afternoon sau continuing demand for May with premiums esting predominated in the sesliga torrels domestle contract, reflecting the June. casiness in raw sugar and the Indication of further pobje declines because the tenest substantial amount of unsold. If London and suger expected to arrive here the rub during May --UPL

Hand Open

Associated Bank ;

Closing prices, all in sterling per long top:

****** SNNNNN

388238 874999

Closing prices all in cents per

31.76: July: $2.10: Oct: 30.86b; Dec: 30.98; Mar: '$1.37b; May; 11.706; July 21.70h; Det: 31.07; Dec: 2431 31.15h; Mar: 3145h.

4

'Buyers Sellers

Tin

Bpot 3-month

787 7805

725

| 1b.:

Spol: 7835

Copper

Spot

-2404

BABY

3-month

24334

Lead let hall May AuĹ.

Zine 1st half May

Aug

78%

013

-UPL

COTTON

RUBBER

SINGAPORE

Closing prices all in Straits cents per lb. Lob. Malayari

Boot rubber unhaled

NEW YORK Closing prices all in per lb.

cents ports:

No. 1 May

108-13571

June

1089/-1099/

34.15

Mo, 2 May

1261-1971

March MOT

[No. 3 May

No. 4. May

1172-1182

July

22.83

Oc

30.500

Deo

Blanket crepe

No. 1 pade crepe

195/6-13614

126 138

May

31.21b

LONDON

July Oct

Closing prices-all

Settlegend house letin:

SAO PAULO (Closing prices all in cruzeiro No. 1 Rae społ

Factories showed fair

today-UPL

market was ready | ed Moot marfortressala, crust.

Total sales: (9,700 · bales

90%

Closing prices all in guilders per kilogram, cit. May:

No, 1 rubber

No. 3 rubber

No. 3 rubber

No. 1 'crepe

386 buyers

3B1 buyers 3.92 kuryers.

SUGAR

NEW YORK

Closing prices all in cents per-lb.

3.18

July Sept.

Contract No. 4 (world) !

3.on

Oot

$100!

May

Total Bales: 218 contracts.

Contract No. 8 (domestic)

Judy

$82-83

Sept. Nov

6.93

5.26

Total Balca: 308 costracismAP,

FOREIGN EXCHANGE

LONDON Closing rates:

New York Montaust Amsterdam

Brussels

2000+20034 29258/15-7773-1/15 1454-10.585%

1765-13.104

BAS.

04.

Bank "A" Lid ord-

Chartered Banku=50s. Hongking-6524. Lloyd's 'Bank “A”—618.

Insuranto

Union Insurance Canton 2534. Aircraft and Motors

British Motor Corp. Ord-% 4{$4. Ford Motor Col

Hawker Siddeley Group Ord-29

Rolls Royce Lid Ord 43% 90, Rootes Ltd "A"-10

d.

Standard Triumph Internationa)-- 11 sd.

Breweries

Distillers Co-34 71%d,

South African Breweries-25 d.

Building and Materials Associated Portland Cement-665 7.

Goodliss Wall & Lead Ong-563. Coal, Steel and Engineering. Babcock Wilcox Lid-3es Ed United Steel-77 94. Vickers Ltd--60 3d.

Food and Tobacco

British American Tob. Co. Ilda 006.

Imperial Tobacco. Co., Ltd-s

Miscellaneoni

Boardman Marden Lids td. British Oxygen Ltd. Ord-666 Ed. Cahadian Pacife Riy-$45 De La But Co. Ltd. Ord-60s. Dunlop Rubber Co-27s

Gilman Holding Lid-29

Hongkong & China 08-16 od n. "Imperial Chemical--57) Lyons & Co-128 $4.

Unilever. Ltd--148 6d,····

Paper Bowater Paper Corp Ord---80a.

Radio and Eléctrica) – Associated Electrical-day 64. Electrical & Musical-49 car. English Electric Co-388 8d. ;-) General Electri

Geng Shipping

Indo-China Steam Nev. Co. det

*PAO Steam Navigation det ord

Stores

Debenimas, Ord, Lid-448 114a. Great Univerzal Stores "A"---47%

Marks & Spencer Lid-72 Woolworth, W. & Co 63% 34.

Coats J&B de $50. Courtauldr Cid-61-9d.,

Mines

Cons Goldfelds of South Africa $1a 54,

Conk Zine Corp, Ord745. De Beers de6–1335 1954.

Honkon. Tin mới 1050

Petal T-85; 34..

Radic

Southern Kints Com 140-29,

#inbm: Corp-Dis 36.::.

West Driefontein Goldmining-

oil

British Borneo Petroleum Byndi- cate-

Belles Purniak: Petrolea

British Petroleum Co. Lt

Formate, E*T

Royal Dutch Petroleum Shell. Transport, & Tradin

Agreed merchant

rates

Canadian Dollars - Maxienum A selling 16-15/16, Minimum'Buy-

Swiss Francs Maglinian' selipt 78-5/16//