1960-06-03 — Page 2

Page Z

THE CHINA. MAILA

FRIDAY, JUNE

1960.

WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE

MARKET EASES FURTHER

Prices drop as buyers look for bargains

The market continued

irregular during

the week with declines registered in

most sections.

Fires cn. the whole

. was

have

Both Textiles and Nanyangs

slightly lower prices.

The trend of the market ap- pears to indicate future Irregu- lar movement,

dropped cbout 10 per cent from were comparatively steady but the peak reached last month.èrquiries led to business et But trading has remained witzin a delnite range with le price changes within the past week. caused Irregularity through the appearance of buyers when the market showed signs of weakness and sellers when prices reached a certain level. Volume of business declined considerably and averaged a little more than $2 million a

day.

Politien! news also had its effect on the market.

Market diary

Friday:

the Monday:

During the week. Realties came in for a hard knock when

that learned it was comptny was nal successful im the Murray Parede ground land nuction. They had earlier indi- ented an interest in the land scle.

Immediately after the result

of the land sale was announced Tuesday:

Reallics dropped from $2.05

down to the close of $1,875.

Banks came in for a further

decline and closed at $1,215- drop of $20.

Both Unions and Lombards were dull with a total absence Likewise were of interest. Kowloon Wharves which closed at $238 ncminal.

Hongkong Hotels were the only shares which showed any

and

clesed fractionally

life higher at $42.

Lands were fractionally lower

closing at $59-a drop of a dollar.

In utilities China Light, Elec-

Wednesday:

tries and Telephones were dealt Thursday:

in fair quantities but at lower

levels.

Cements went off two dollars while in stores Dairies and Lane, Crawfords finished fractionally lower. Watsons closed ut $20%

a drop of $1.50.

The market was casier all

round

during the day

the

with a majority of Jst marked down. The day's Hurnover amounted to approximately $3,303,000.

The market opened dull and continued listless during the day. Volume of

business transacted was

approximately

$2,085,000,

The market opened

* The share market at

glance ★

Up or

Down

Dividend

& Bonus

$48

London stock market drifts lower

London; June 2 Growing talk of further credit curbs and weakness in sterling helped prices drift downside today but American and Continental Buying brought sharp gains to a few favourite IndustHal stocks.

Fears of lower gold reserves kept the signals ai caution. The figures proved better than ex- pected but cams too late to make an impact.

May 5

May 19

May 19

May 26

June 2

Yield (%)

HK Bank Lombard Dion Wheelock

1270

1200.

1280

1235

1215

3.9

4814b

47368

44h xd

12

4.3.

95m

900

Job

steady

$3.40

7.40

749

3.10

7.20

7.05

250

3.5

HK whit

258

248

2380

38

3.8

HK Docks

119

126

114

115

113

$10

8.3

Taikon Docks

634xd

6314

60

60

59

$2.80

4.7

Provident

21.60

23.40

21.20

21.60

20.90

$1.10

5.7

HK Hotels

3814

4434

40

42.

4214

$275

6.4

HK Lands

3916

6472

69...

60

59

$2.40

4.1

KK Really

...1.975

2

1.95

2,075

1.875

15e

8.2

HK Tran

3314

'gu

32

3214

314

$2.05

5,3

Star Ferry

180

182

182

180+

180s

$9

Yaumatis

181

186

178

174

171

$8.50

5

Ch Light

236xd

24.10

2216

22.80

224

-30c

$1.10

4.9

Electrica

29.10

301⁄4

28.30

28.70

28.30

$1.90

HR Telephone

194

4034

38

39

384

$1.75

4.8

Gift-edged

stayed out

of

G. I. Cement

#712

5414

54

52

-$2

7.8

favour and small selling caused

Dairy Farm

2836

31

2814

28.20

28.40

-80c

$1.85

4.8

A. S. Watson

28.80%

39

28.201

2801

2416

-$1,30

$1.50

5.8

.

Lane, Crawford

5631

*4214

41

404

-She

Int'l Investment

8.75

8.20

B.80

8.80

8.75

850

losses, up to 4 sterling. Greek bonds were easier in a quiet foreign sector.

.7.2

Allied

6.90 x

6.838

6.550

6.55$

6.404

-15c

$1

18

HK FE Inv

15.00

16.10

15.90%

15.80

15.20

60e

900

5.8

Textile Corp

11

11:20

10.70

10.90

10.80

€50

5.8

Nahyang

15

15.80

15.80

15.90

15.60

-30%

51.10

6.6

ed with losses.

WALL STREET RALLIES

TO REGISTER

GAINS

New York, June 2.

៩

lower in tendency The stock market rallied after a weak start today to register its sharpest

declines with recorded in mcst sections but

lader

galns in more than two weeks.

Raytheon Company

Buying spread from the steels;

Georgia Pacie Corp. Getty Oll

53% Phillips Petrol

133

Pure. Otl

Cillette Co.

20

Quaker Oats

Goodrich, BF, Co.

6315 Radio Corporation

Goodyear Tyre & Rub

40

Grace. WR. & Co.

33815

Republie Steel

Gulf Oil

21

Reynolds Metals

Ingersoll Rand

Reynolds Tobacco

B01

to

Int. Business Mach

50814

Royal Dutch Petro

Int. Nickel

Int. Harvester

421

Sears Boeblick

St Regis Paper

333

int. Paper

Shell O...

100%

Shell Transport

45%

Sinclair O

Socony Mobil 011

buyers appeared to the chemicals, motors and which resulted in other blue chip ismies used to some good pains, compte the averages The turnover am-

Weakest groups were the re- mounted to

cently string electronics and $2,987,000.

ran drugs. Lasses here The market steadler during the nearly seven in Texas Instru- half day sessien ments and to around four in with buyers Carter Products, a late drug increasing their favourite. ecrmátments.

was

In

Today's voltine was 3,730,000

Joties & Laughin

Int. Tel & Tel

Kaiser Aluminum Kennecott Copper

43

South An Gold & Flat

7434 South California Edison

Rubber

market review

Singapore, June 2. Overseas advices were again and the disappointing opening here was uh- tertain with sellers re- luetant to offer.

Business restricted to No. 1

532 Rss until mid-morning when Some enquiry for No. 2 No. 3 Rss met at narrower differentials than of late..

Several textiles rallied the closing minutes But elsewhere losses were widespread ind included blue chips.

Dealers marked, down gold mining shares at the outset but the stocks encountered tule

HONGKONG

STOCK EXCHANGE

1:

Our Own Lorespondent

Business done at the Hong-

kong Stock Exchange this morn-

selling. A long list of golds ending amounted to approximately

$1,081,000. Noon quotations and

Coppers stayed dull and tins the morning's transactions made more headway.

.Shater BANKS

Buyers Sellers Bales

Oils turned easier. Rubbers HK Banks.. 1200 12t0 and tea were quiet-UPI.

Closing Prices

altered Bands

British Transport 3%, 1978/86-

LEZI

Consola 21—24524.

£89.

Savings 3%. 1960/70-279. Savings 3%. 1985/75-73-0/16.

Banki Barclay's Bank "A" Ltd ord-645. Chartered Bank-s 3d. Hongkong-£5014.

Lloyd's Bank "A"--is úd.

Tissuranca

Union Insurance Canton-£53%.

Aircraft and Motors

INSURANCES

Union Lombard, XD SHIPPING Wheelock DOCKS, ETC.

Amalg

British MOUT Corp. Ord--183 Yaumal 10d.

3d.

Ford Motor Co- .

Hawker Siddeley Group Ord-30s

Electric

Telephthe

4230

4

7 7.10

Dock

110

Consol 4%-10-3/16.

Conversion

Loan 31%%%

1001-

Provident

20.00 20.90 20.63

20.0

£arts.

Funding Loan 3

185/60262,

Taido Doct 3T

5814

Funding Stock 35%, 1003/2004

LAND, ETC.

EI Hotel...

***

€58.

41%

Funding Loan $%%% 1960/

Land

59

5816

Savings 3% 1955/65-2031.

**** (Rs.) 3215

Realty

1.825 1.85 185

1.75

RUBBER

73%

8B

Java-Consol

Bs.cta.

Sungalo

5:70

UTILITIES

Peak Trim (0)

$115

3121

Star. Ferry

170

C. Light

22.40

28.10

13.00

31 623%

3021 Sperry, Rand...

2134 Standard Brands

28.20

24

Stand On CRITOria

23

Stand Off Indians

28,20 26.60 - 201}

15

Stand Di Chid

428 Stand 011. Flew Jersey

1,10

Metro Goldwyn Mayer

*2834

Sterling Drug

with market

Dow-Jones closing averages: 30 Industrials Irregular. 20 Rails

Minneapolis Honeywell

Minnesota Mining & Mfg

21B

174k Texaco Ine.....

Studebaker Packard

103 10.30

10.80

10.70

627.82

Thompson Ramo W

Monsanto Chemical

41

Tidewater O11.

10% market, was quiet today.

Goodlas

178.67

Montgomery Ward

4316

Twenty Century Fox

38

88.76

Moore McCormack Lines

22

Trans World Airlines

13

205.20

Motorola Inc.

1881

Union Carbide

12.71

National Biscuit

G01

Union Oil California

146.27 | National Cash Register

70

Union Pacific

255

Rex rubber futures in New York today closed 25 points higher to five points lower with sales of 27 contracts,

7d.

Nanyang

Vibro

1514 15.80 1533

MISCELLANEOUS

14

Coil, Steel idd Englicering Babcock & Wilcox Lid-38; 3d. United Steel-768 6d.

Cald MacGreg.

Int.

8,00

Allled

Closing Prices

Allied Chemical Corp.

Allis Chalmers Aluminum Ltd.,

Aluminum Company Amerada Petroleum

National Dairy Prod.

43

United Aircraft Corp.

37

HK & FE Invest,

13

8.80

18.30

18.29

National Distillers

20% United Air Lines

20

National Gypsum

54.

Udited Fruff

247%

$52%

National Lead

01

US. Industries

11

291%

New York Central

22% US. Lifes

26

32

Northwest Airlines

20

U.S. Rubber

sid

8724

Onto Oil

U.S. Smelt & Refin

28

01

Olin Mathieson Chem.

42

US. Steel....

American Afyller

19

Pacific Gus & Elec

61%

Warner Bros. Pictures

44%

American Ch

30%

Pan Am World, Airways

Western Union Tel ...

BOR

America Cynramid

56%

Paramount Pictures

4k Westinghouse Electric

60

American Smelt & Refin

50%

Pennsylvania KR

129%

Yale & Towne

American Sug

2014 Pepal "Cola

43% Youngstown Sheet & Tel

American Tel, & T.

91% Pazer, Charles

31

Zenith Radio

1021 117

American Tobacco

549% Phelps Dodge

Total Stock Sales: $3,730,000,

Anacoida Company

48 Philip Morris

661

--UPL

was negli ble. Current month No. 1 Rss was quoted 441⁄4 ceritš, nominal-UFI.

C

some sections small shares. Of a total 1,295 issues Kains were re- traded, 509 were higher and 184 gistered.

American exclunge lower, The improvement volume was 1,360,000.shares.

morning's

Bond's volume amounted to 1- was

$6,250,000.

the

in

session

s by late sell- ing cibsing

Turnover amount-15 Milities

ed to poproximately $2,982,000.

65 Stocks

40 Bonds

Comm. future price index

Libby Owens Ford

Urgett Myers.

| Kodiced Aircraft

Lone Star Cement Lotillard. P. Co.

Martin Co., 1925ČÍ Merck & Company

516 Scuthern Company

The afternoon was erratic with prices edging lower to- wards close.

The market closed quiet,

In London, the rubber market was quietly steady with spot quoted at 381⁄2 pence,

In Amsterdam, the rubber

Rolls Royce Ltd Ord-481 71%d, Rootes Ltd "A"~118"1011⁄2d. Standard Triumph International 10s 2010.

•

Brewenck

Distillers Co-35 Tid.

South African Breweries-274,

Building and Materials Associated Portland Cement-68 494.

WallLead Ord-476

HK, GA INDUSTRIALS Cement

STORES, ETC.

Dalry ... Watson!

e-Craw

Sus. Co...

Wing On (HK). COTTONS Textes

4012

NOTICE

We wish to advise our customers

that, with effect from 1st June 1960,

the selling unit of our products which

have hitherto been marketed in

American Gallons (A.G.) or English

Tons, has been changed to Imperial

Gallons (1.G.).

THE SHELL COMPANY OF HONG KONG LTD.

P.O

R.M.S. "CANTON"

EMBARKATION NOTICE

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

EMBARKATION: Passengers should embark between

BAILS:

BAGGAGE:

2.30 and 4.00 p.m. on Friday, 3rd June, 1980.

Armed Steel

Armour & Ca

Associated Dry Goods

Allantje Refining Bendix Aviatjan Bethlehem Steel Boeing Airplatse Borden C Borg Writer Bridgeport Brass Burroughs Corp. Canadian Pacific Rwy. Case. J.I., CP,

Celanese Corp. "A.

Cerro de Pasco Chrysler Corp. Cities Service Coca Cola Company Colgate Palmolive Commotiwealth Econ. Consolidated Edison Continental Oil, Corr. Producs Co. Crane Company Crown Zellerbach Curtis Wright ........... Duul Corp-Seagrams Doughs Aircraft Dow Chemica? .... DuPont de Nemours

Eastern Air Lin Eastman Kodak

Food Machinery & Chem

Ford Motor Co.

General Dynamics

General Electric General Mis General Motors. General Telephone

U.S. INVESTMENT QUOTATIONS

Yesterday's Closing

COMMODITY

COTTON

cents

METALS

NEW YORK:

Speculative covering in the nearby July delivery accounted

Vickers Ltd 328 103d.

Food and Tobacco British American Tob. Co., Ltd-- Imperial Tobacco

for more than half of the bus-15 34. ness done. The rest was scat- 68stered with dealers on both sides.

Improved undertone was asso ciated with the firmer London close, and a scarcity of shipment offerings from the East.

Fac- 31tory Interest in the spot market

NEW YORK Closing prices all in

Closing prices. all in cents per lb.:

per lb. Spot: 34.15; July: 3291; Oct: 31:04; Lead. July 1194 Dset 31.10; Mar: 31.45; May: 31.73: 461% July 31.65: Oct: 31.40; Dec: 31.50;

Mar: 32.

NEW ORLEANS -

LIVERPOOL

PRICES

No. 4 June

Spot rubber bed Blanket crepe No. 1 pale crepe ...........

LONDON

127-12724

$1275-12414 131-133

Closing prices all in pence per ID:

No. 1 Res spot.

C3.,

Lid-05

Miscellaneous Boardman Mardea Lid-ds_9d, Brush Oxygen. Ltd. Ord-925, 34. Canadian Pacifle Rly-$453%, 7. De La Rue Co. Ltd. Óra-69% 3. Dunlop Rubber, Co-Zis, 11⁄2d,. Gilman Holding Lid-24,438, Hongkong & China Gas-10s 60 n. Imperial Chemical--39 740. Lyena & Co Bla 711⁄2d. Unilever Lid 1625 3d cor.

Paper

Bowater, Paper Corp Ord--728.

Radio and Electrical Associated Electrics-568 94. Electrical & Musical185 34. English Electric Co-40s Bd, General Electric-30s $4.

...Shipping Indo-China Steam Nav, Co. det!

ord=233 Bd.

P&O Steam Navigation def ord 40s 1950:

stora

"A"-309

Great Universal Stores 100%t.

Marka & Spencer Lid-72 114. Woolworth F, W. & CO-86 14.

Textiles

Coats J & P Ltd-17 3d cor. Courtaulds Ltd-67 7d.

Mines

W.German

credit

squeeze

Frankfurt, June 2.

The West Germán Federal

Bank today Falsed the. bank rate from four to five per cent in an effort to curb rising prices and excessive use of credit.

The increase of a full per cent in the rate that commercial buni must pay for loans was viewed as a firm step to keep West Germany's economic boom from minning out of control,

The new banic rate is the Licherse since lést September when it was 2% per dent;

Cons Goldhelds of South Africa-third Cons, Zine, Corp. Ord-74s 6d.

2911⁄2-38%

July/Sept.

Settlement, house term:

Ost/Dec.

De Beers del-1460 cor.

Jan/Mor

Hongkong, Tin--Os 144.

Petaling Tin,

Rend- KČ.

11.35 Apr./MAY

11.45 General markets, pdf. basis parts:

July

11.25 Aug.

383%-50% 38-2614 11.35 Estate crepe thin June .. 19

thick June in

AMSTERDAM

Closing prices all in guilders per knogram, cif. June.

Sept.

July

201 辦

Closing prices all in: cente

Supl

Copper

44% der tb.

July

31

Spot:, 31.30; July: 3182; Oct: 31.10; Dec: 3142; Mar: 3112: May; 31.72; July: 31.63; Oct: 31.40; Dee: 31.40; Mar: 21.00.

Sept,

31.08 29.31

LONDON Closing prices all in sterling per lang ton,

No. 1 rubber

Americas Contract May/June: 22.35; Júly/Aug: 22.15: Oct/Nov. 220; Dec/Jan:

Buyers Selleri

No. 2 rubber

No. 3 rubber

Tin

No. 1 repe

22.40:

Spet 3-manth

736

28711

Mar/April 22,9;, day/June: 22.55.

Mited Contract・・

Copper

Spot 3-month

247

June

Sept.

Zo let halt

June

Sext

May/June:02253; July/Aug: 12.45; | Lead 1st half

23.75; Oct/Nov: 22.80; Dec./JR; Mar/April: 22.30: May/June: 2,90

Following are American invest-UPL ments in US dollars Buyers prices include commission.

Bellers Buyers

Affiliated Fund

781

Ar Bus Shre

4,07

Ake Eaught E

Atom Dev Mes

$.80

8.28

9.00

Book Fund

Carieda Gen Fund

13.05

Canadian, FA ORA Caraman Int Growth

Chemical ind

Cow Stoess.

The ship is expected to sail at 6.00 Dividend Sh p.m. on Friday, 3rd June, 1960,

Drwytis Fixt

Fiscubrics By Found Mub Fund,

Trial Found

Should be sent to the Hongkong & Find BOT Kowloon Wharf Co's Godown (No. 2 asti Growth gate) by 5.00 p.th, on Thursday, 2nd invest Jane 1969,

SUBJECT TO ALTERATION

Kérdoba

Maar Ko

Fat Bar Set Growth

Value Liew Fund.

1-di

SUGAR

NEW YORK

RUBBER

354 buyers

3.50 buyers

3.37 kruyeen

*.75 110m.

--UPL

FOREIGN EXCITANGE

NEW YORK Closing mater Canada England official

30-days

Closing prices all i cen's

NEW YORK

Rex subber futures closing

El in cents per th

South Africs

July

Sept.

Noy.

Jan.

Contract No.4 = {w

July

Sept.

163411210 41.00 12.03

Mar.

Błoy

21.34 22.2.

July Spot (FAS. Cuba) Total Sales: 103, com

3.34 8,01

Mór

May July

July

cents

22 Nov

240, contracti

1.01 13/16

90-days

2.7259

Australia

22800

New Zealand

7.7000

2.8040

PIZOOTO

Thermark

1935

Indie

2103

Pakistan

器

LONDON

40.25

Now York

38.05

Chasing

The new bank rate is the highest since January 11, 1957, Southern Kinta, Cons Lid-27 64, but is still below the six per Unton Corp-81 81.

West Driefontein Goldmining-rate prevalling in 1859.

AP.

01

British Borneo Petroleum Syndi Cake-44 30.

Brittan Burmah. Pétrole-s

Co., Ltd-1.0 Bhumi Petroicom

4150

Burmatsiz.

Boyal Dutch, Petroleum-213-7710, Ehell Transport & Träune-143*

Router.

*

NY sugar market

New York, June 2 Worka fờ, à murde futures today

U.S. discount loved one lower a two, bonta

rates down

fither with kités ö7. 187 öök-

Domestic No.

unchanged 9. Due point lower

with sales, or 40 contracta Washington, Jun. 2. United States Federal Ziddidation in the hearby Rekerve Board has authorised deliveries, encouraged by the Is Blank in Philadelphia and ever uw Basis, featured re San Francisco to but its da latively quiet trade in the world count rate from four le three contract, UPI,

and one hill per cent, it was

announced today.-:-

It was expected

that the

other Hanka, wil folow shut in Agreed merchant

3/18 a short time,

Adhering to

serve

action Enow

a Federal Re

Hils

the

rates

1-18/82