1960-06-17 — Page 2

THE CHINA MAIL FRIDAY, JUNE 17, 1960.

WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE

MARKET'S RECOVERY BID

Prices improve * The share market

as buyers appear again

The recent weather and the

political unrest

HR Bank Lombard Un'on Wheelock

HK Wharf

Electrics

..

at

June 16

a glance ★

Dividend

& Boan

London market eases after early recovery

London, June 16. Stocks showed recovery in early trading today, from yesterday's setbacks but eased again

toward the close of the session,

reaction was largely due to publication trade figures for May.

of disappointing

Gaverwerf Boots led to hold an early improvizační and closed mainly lower. Foreign. bands were irregular, with Japariese dull following post- parement of the Elsenhowe visit to Tokyo.

Up or

May 19

May 26

June 2

1200

1235

1215

June B 1210n

Down

Yield (%)

1200

-$10

$41

461

4η κα

444xd

429

423

steady

$2

4.8

91b

90b

gob

92b

93

+31

$3.40

3.7

2.10

1.20

7.05

8.90

6.90

steady

230

3.6

256A

244

238#

2321

250

+518

58

3.4

Anpolutrement of at charged bank rate provided the

stimul's and morning

un-

the

IIK Docks

314

115

113

105

169

+54

$10

.9.5

Taikoo Docks

ti

GO

GD

$69

56

-$2

$2.80

3

Provident

21.20

21.60

20.90

20.20

20.10

----100

$1.10

5.4

HK Hotels

40

42

4214

401%

40%

+256

$2.75

HK Lands

00

60

59

5612

5014

steady

$2.40

4.2

11K Realty

1.95

2.075

1.875

1.85

1.85

steady

15c

8.1

HK Trems

12

3214

31

31

31143

steady

$2.05

6.5

current

Star Ferry

1828

1809

1803

172

1724

steady

99

5.2

in Japan are

the

Yanmails

170

174

171

168

169

+$1

$8.50

Ch Light

2214

22.80

2214

21.80

22

+20€

$1.10

28.30

28.70

28.30

27.00

2714

-106

$1.90

HK Telephone

39

3821

374

3714

-256

$1.75

4.0

51

54

52

50

5014

steady

$4

284

29.20

28.40

27.90

271%

-400

$1.35

4.

A. S. Watson

28.209

2811

2014

20.408

2614

$1.50

3.8

AP.

Lane, Crawford.

.41

41

4015

419

384b

-$1.30

$2

4.9

Interest has been lacking in

int Investment

8.80

8.80

8.75

8.703

8.10b

+400

650

7.4

Allied

6.651

0.55$

6.409

6.409

6.159

མས་པt;

18

HIK FE Inv

15.909

15.80%

.15.20

15.30s

14.70

---60¢

90c

5.9

Texille Corp Nanyang

10.70

10.90

10.80

10%

2014

steady

85¢

8

15.60

15.90

15.60

15.908

15:708

---2 De

$1.10

6.0

Consols -C-11/16.

Conversion Looh

315.

20093-

Funding Lou 3

1958/09

481-9/16.

Funding Stock 31. 1998/2004–

£65-11/16.

Funding Loon 4% 16/00

£58-16/1.

Savings 3, 1955/65-£90-7/16. Savings 3, 1900/70-£795.

main factors behind the declines in the local stock market during the past fortnight.

But at the close yesterday:

there appeared to be signs of the rubber section with the the market returning to normal | exception of Rubber Trust and

Amalgamated both of with prices sleadying.

which Over the period under review have been fairly active with

buyers levels.

prices fell a little over five per cent. Trading, during the last two days however have shown a Jair recovery of these losses and

coming in at lower

Market diary

the trend appears to be steady Friday: but uncertain.

At the cluse yesterday most sections remained steady with others showing some gains parti- cularly Kowloon Wharves which were up $18 from the previous week.

Banks appeared to be still weak and declined a further $10 clusing at $3,200. Unions

xc-

mained fairly steady with the addition of a dollar bringing the closing price tu 93.

Both the ferry companies 'showed little movement with of the Star Ferry the weaker two.

Hotels, Lands and Realties re- mained steady with the 'firs! named showing, a slight gain

In other utility stocks China

Lights showed Flight

2

while Eletries eased

gain

а

fraction. Trams remained steady

$314

Telephones which have been declining gradually dropped an- other 25 cents over the week closing at $374,

Walsons and In stores both Dairies appeared to be weaker while lane. Crawfords slipped fractionally.

Textiles and Nanyangs re- ! mained fairy steady.

Monday:

The market con-

tinued weak with

little interest dis- played 011

board* Turnover was approximately $1,985,000.

were ex-

G. I. Cement

Dairy Farm

38

-10%

OVERSEAS WALL STREET CLOSES

COMPANY REPORTS

Bears tremely busy in at depressed markel

The and prices closed at the day's low. Volume of business was approximately

$3,036,000.

Unsettled Tuesday:

condi-

lions persisted at the opening but the appearance of sub- sequent buyers resulted in a strong

Ottawa, June 16.

ned

president of the Government - owned Eldorado Mining Refining Co. said in the annual report issued to. day that 1960 would be a difficult time

for all uranium producers. But with a doubling of world 10 to 12 recovery. The turn- power peeds every over was upproxi-years, the long-term future of mately $3.738,000. the industry was bright if loo great A disruption could be Wednesday: The market con- avoided in the years ahead, ac- inued to improve cording to the president, Mr

fractional W. M. Gilchrist. with

lalg gains

the

Thursday:

half day session. The company, which is the Turnover Amounted sole marketing agency for all to about $2,112,000. uranium output in Canada, re- ported purchases and resales There was marked from other producers last year improvement in th rove to $295,300,000 from $246,- day's prices with all 900,000 the year before. Gross i round enquiries.rom the company's own mining Volume of business operation

$38.4 million transacted against $30.8 million previously, was approximately Chino Mail Special. $3,531,000.

CHANGE OF TELEPHONE NUMBERS

As From June 15th

Our Telephone Numbers

will be:

35441 (10 Lines) CALTEX (ASIA) LIMITED

5th Floor Edinburgh House, Hong Kong.

STAMP-CUTTING PICTURE

8"

HK$ 8.00

11" x 15" x 111⁄2"

25" x 9"

26" x 18"

"> " 15.00

"> 15.00

»», 40.00

CHUNG HWA BOOK CO., LTD.

BRAN

HONG KONG BRANCH

50 QUEEN'S ROAD CENTRAL HONG KONG

CALL 59195

́FOR GENUINE' DRYCLEANING

COLLECTION and DELIVERY

SERVICE

Wes

★ ✰

New York, June 16. New York Central Railroad took steps to challenge and Ohio Chesapeake Railway's bid, to obtain control of Baltimore and Ohio Railroad.

Mr Alfred E. Perlman, Central President, announced its diret. tors would hold a special meet-

on June 24 tu discuss

a

ON A MIXED NOTE

New York, June 16.

Specialties such as boating, electronics and vending issues starred in the stock market today but for most of the others

2%,

the trend was downward.

Thickol 214.

General Telephone For the favoured ones, the Mining

Georgia Pacle Corp. gains ranged from two to five General Instrument 234 and

Getty, Onl dollars a share.

Elsewhere, Standard Oil of New Jerzy Gillette Co.

Goodrich, BF. Co. .... mostly

Fastman Goodgear Tyre & Rubber Losers included gains and losses were

Grace. W.R. & Co. fractions lo a dollar a shaft.

Kodak 34. Dupont 2, Chrysler Gulf oil.... Aircralls, rubbers

and, Eastern

Airlines, U. S. Ingersoll Rand tobaccos were firm while Steel 14 Radio Corporation Int. Business Machine motors, airlines, ralls and drug and International Tele-Int. Harvester

Int. Nickel declined. The palletti

phone 4-AP.

Int. Paper mixed for steels, metals, utilies and oils.

Wal

Closing Prices

it Brokers called consolidation of the big rise of last week.

further market's

Allied Chemical Corp.

Reaction

Volume was 3,540,000 shares compared with 3,630,000 yester day.

Brokers complained over what they called the weak leadershi of the market during the con- solidation period. Others felt the current sideways movement was a natural correction to last week's abnormally fast

vance.

Allis Chalmers .... Alumium Ltd.

Aluminum Company

Amerada Petroleum

American Sugar America Tel & Tel. American Taco Anaoonda Company Armco Steel Armour & Cu. Associated Day Good Atlantic Retang Bendix Avtation Bethlehem Steel ad-Boeing Airplane Borden C. Borg Warner Bridgeport B Hurmtighs Carp.

In the absence of any solid business news, and with the

weekend coming on they looked for more of the same. Postpone ment of President Eisenhower's Japanese trip had little effect on the market, observers said.

Standard Coll products headed the most active list for the third straight day, rising 2% at 243405 valume of 149,300 ing

shares. Universal Match bene- proposed offer to Baltimore and sted from glowing reports on Ohio stockholders.

its test vending machine and He issued the statement spurted another 5 to 78. shortly after Chesapeake and

boat maru pleasure Interstate Ohio applied to the Commerce Commission for per- facturer, NAFI was third most mission to acquire the control active with a leap of 5% to 62% of Baltimore and Ohio through exchange of stock-China

an

Mail Special.

Yesterday's

Closing

A

Other active gainers included Collins Radio 2%, Minnescia

COMMODITY

Contract No. 6- (domestic)

RUBBER

Nov.

July

5.31-92 4.02-33 Sept

6.05 Tolal Sales, 355 Contracta-AP.

'Rez

NEW YORK'

rubber futures closing prices, all in cents per lb.:

July: 45.40-50; Sept: 413; Nov: 40.005: Jurt: 39.00b) Mur: 33.78b; May: 28.30b: July: 37.80b. AMSTERDAM

Closing prices all in guilders per kilogram, elf. July:

No. 1 rubber

No. 2 rubber

No. 3 rubber

No.

crepe

9.ŠÍ, EDM.

3.471 nom.

1b.:

COTTON

NEW YORK

Closing prices all in cents per

May: 22.25; July: 82.82; Oci: 31.07; Dee: $1.14; Mar: 314: May: 31.35; 3.37 nom. July 31.61; Ort: 31.45; Dee: 31.33. 3.74' nom,

NEW ORLEANS

SUGAR

NEW YORK

UPL

Ib.:

Closing prices all in cents per

Spot: 31.30: July: 177 Oct: 31406; 31.05b; Doc: 31.126; Mar: May: 91.76b; July: 31.69 Ort: 314: Dec: 31,50b; Mar: 32b.

Closing prices all in cents per pet. 15.;,

LIVERPOOL

Closing prices all ini pence

Atherican Contract Dec/Jen: 25: Mar/April: 22.36; 2.56-29 May/June: 22.50. 3.07-08

Contract No. 4 (world),

THE STEAM LAUNDRY CO.

July

Rept. Oel:

$20

MET.

May.

July

Total Suite 500 Coertracta

Ma. 1, Kyoig Wi Street, Kowloon.

Mixed Contrace July/Aug: 21,65; Ort Nov: 22.83: Dec:/in: 2255; Mar/April: 22137

› Maÿ¿Juñó: 22.85,-UPI

int. Tel & Tel

Jones & Laughlin Kaiser Aluminum Kennecott Copper Libby Owens Ford Liggeli & Myers

Lockheed Airc

85% Lorillard, P. Co.

National Biscuit

344 National Cash Register

68% National Dairy Prod.

National Distillers

National Gypsum

National Lead

Gold shares showed improve- ments in spots and time" eased and coppers remained dull —

90

Closing Prices

Gledged Bonds

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

Business done at the Hong- Lis kong Stock Exchange mbrating amounted to ap proximately $2,384,000. Noon quotations and the moming's transactions.

Aurres 1901– HK Bank..

British Transport 3, 1978/98- Consols 2%-£$5.

Savings 35, 1965/75-73-1/16,

Tanks

Barclay's Bank "A" Ltd ord-55%

Chartered Bank-51a od. Mongkong-200%.

Lloyd's Bank “A”-606 30h

INSURANCE

Union Insurance Canton-£5-15/10.

Alteraft & Motors

Bk. E. Asla Lombard Ins. Union Ins..

Wharf Co

Waterbtical Wheelock

Buyers Sellers Bies 1305 1210 201200

201203

10 1206

81310 21210 141203

206

03

700 9215

300 41832

242 250

509 # 250

•

4.85 6.90 10000 63

HR Dock

109 131 2800 112

100 G 111

200 110

Provident .-20.00 20.70

025 #4 2015

Britial Motor Corp. Ord-189 41sd. HK Hotel ..

d.

Ford Motor Co-1128

Bowker Siddeley Group Ord---305.

Rolls Royce Ltd Ord-478 3d. Rootes Ltd "A”—120.4140, Standard Triumph International— 108 0d.

Breweries

Distillers Co-St® 41⁄41⁄2.

1300 20.00

203760

41 4111⁄2 1000 415

500 41%

500 413

ilk Land..

57 5712

400 +1 57

128 0 ST

000

57%

1200

200 or 381⁄2

000 F

500 3

300

100

75% | 4160.

200 TO 573%

Cosi, Bheel and Engineering Babcock & Wilcox Lid-380 Ed. United Steel-800 6d.

Yalmati

100 171

100

HK Tram

Vickers Ltd 34 4.

South African Breweries-239 9t Building and Materials Associated

Portland Cement--888

Goodies Wall & Lead Ord--508.

100 011,

40%

200 / 170

31 311% 1000 @ 3114

300 f

930 62

WE $2,40

Food and Tobacco

British American Tob. Co., Ltd-

Imperial Tobaces Co., Ltd-60s. Miscellaneous

Boardman Marden Lids Bd. British Oxygen Ltd. Ord-95, 38,

Canadian Pacife Al3-456.

Ch. Light

HK Ec. 27.80 23.80

De La Rue Co. Ltd. Ord-715 d. HK Tel....

Unilever Ltd-1609.

Paper

Bowaler Paper Corp Ord-1s ed. Dairy Farm 27,70

Radio and Electrical

8898 8 8

300 7.30

5.70 1000 a 15:40

440 56

500 a 58 200 2014

... 1.875 1.00 45000 1.00

58000

13.79 13.50 1920

2000 13.80

$55

Dunlop Rubber Co-27.

3742 3834 1500

29

Gihman Holding Lid-2 1ď.

500

312

Lone Star Cement

Hongkong & China Gas-18 od n

1508

Imperial Chemical--60 415.

5014

Martin C.

Lyons & Co-75$ 10d.

at Cement B1%

$2

American Airlines

19

Merck & Company

American Can ........

36

Metro Galdwyn Mayer

28

American Cyanamid

Americas melt & Rafin.

Minneapolis Honeywell

53%

Minnesota Mining & Mig.

8519

2871

Monsanto Chetriscal

Associated Electrical-56%” Üd

29

Montgomery Ward

Electrical & Musical-48s ed.

49

Béa Moore McCormack Lines

Motorola Inc.

112

English Electric Co-39 34.

Ceneral Electri-388.

€3

Shipping

12

P&G Steam Navigation del ord-Textile 40% 20.

Indo-China Steam Nav. Co. def Watsbel.... ord-23 3d.

Allied Inv

67.

45

203

New York Central-

483

Northwest Airlines

18

Stores Great Universal Stores "A" 1150.

RAHJAK Rubber

8.25

Teikoo

38

Ohio OffAR

3132

30%

in Mathieson Chem.

Marks & Spencer Lid-74% 7158. Woolworth F. W & Co-659 179.

33

Pacific Gas & Elec......

Textile

Pan Am World AtrwayE

letz

Z

12

Paramount Pictares

Coats J & F 1184 Gd. Courtaulds L

Realty

HK CAS

Pennsylvania R.R.

1322

MiDes

25

Pepal Co

1912

Cans Goldfields of South Africa-

700 @ 13.80

32

47.

Pfizer, Charles

34%

575 6d.

412

Phelps Dodge

475)

Cons. Zine Corp. Ord-772

59

Phillp Morris

De Beers det-1395 4d,

PR & F.E.

Inv,

14.00 16.20

500 € 14.80

36

Phillips Peltol

4212

Hongkong TD-127 45d.

160 14.70

200 14.80

Pure Du

283

Petaling Tin—s.

300 @ 14.80

61

64

Quaker Oals

47%

Rand-70s.

44%

Radio Corporation

75

50%

Raytheon Company

4214

Union Cornfər 411⁄2d.

48

Republie Steel

834

West Driefontein, Goldmining-758.

(Afthis) Yest !!!mitt

8.20

2.10

45

Reynolds Metals

011

5915

Humphreys 23.70 Lane, Ciw

.I

177

Reynolds Tobacco

097

2

Royal Dutch Petrol

37%

St. Regis Paper

Sears Roebuck

581

Brit Bunnah Petroleum-13 9, British Petroleum Co., Ltd-323

92

3d.

Shell Ou

DuPont de Nemours

200%

Eastern Air Lines

Shell Transport

187

Eastman Kodak

124

Sinclair Of ...

Ford Motor Co.

Food Machinery & Chem

Soccny Mobil Oil

38%

53

71

South Am Gold

Plat

General Dynamles

South California Edlan

General Electric

93

Southern, Company

20

Sperty Rand

44 Standard Brands

Canadian Pacie Rwy. Case, 31. Co.... Cekme Comp. Am. Cerro de Pasco Chrysler Corp.

Cities Service Coca Cola Company Colgate Palaolive Commonwealth Edisi Consolidated Edison Continental Ol Corn Products Co. Crane Compony Crown Zellerbach Curtis Wright.... Distill Corp-Seagrams Douglas Aircraft

Dow Chemical

General Mills ceneral Motors

PRICES

METALS

NEW YORK

Stand Oil California

Stand Oil Indiana

Stand Oil New Jersey Stand Oil Onio Sterling Drug Studebaker Fackard Texaco Inc. ............ Thampstin Rand W. Tidewater all..... Twenty Century Fox Trans World, Attines Union Carbide Union Oil California Union Pacific

United Afferált Corp. United Air Lanes United Fruit

7.S. Indusities

U.S. Lifes

U.S. Rubbi US. Smelt & Refin US. Steel Warner Bros Pictures Western Union, Tel Westinghouse Electric Yale Tuwne Youngstown Sheet &

Closing prices, all in cents per Zenith, Radio

Ib.

Lead

July

11.30b

Sept:

11.400

Zule

July

11.30

Sept.

.11.45

Copper July

JLes

Sept,

21.03-.04

Titi trading suspended --UPI,

FOREIGN EXCHANGE

Rex

Rubber market

60P%

Southern Kinta Cons Ltd-288 34.

British Borneo Petroleum Syndi cates 10%.

Bumah 431 d.

Royal Dutch Peltoleum-£134, Shell Transport & Trading-1449.

-Reuter.

HONGKONG

TOO

COMPETITIVE

Washington, June 16.

A clothing union spokesman asked Congress today to study

trade foreign policies in the light of the special problems posed for small businesses by increasing imports.

Macao

45

Agreed merchant rates

U.S. Dollars Maximum selling 17 13/33; Minimumi buying 17 21/22 T/T, 17 25/32. 0/D, 17 29/32 30 days, 17% 80 days, 131/32 90 days,

Exchange rates

Budness was done in the loon! uricflicts

market thi exchange therning at the following rates: US dollar, (per: $1)

13

Stefling notes (per £)

10.00

Australian noles (per #1) ...

12.80

Indonesian rupish, (per 100) ...

.2.20

Siam Ucels per 100) Singapore, Straits)

25.90

1.80

U.S. INVESTMENT

QUOTATIONS

The following are American

BIOTE

Mr Harry Frumerman, Te-

the investments in U.S. dollars, search associate for Amalgamated Clothing Walkers Buyers prices include commis- of America, testified before a serate small business subcom- | Ahtitatée Fund

đen BỬU KH alttce.

Aldo, Day, Mut Frumerman told the Axe Hought H

Mr tommittee

that

competition Bullock Fund

Canadian. Ft

from abroad "threatens disaster Canada den Fund.. to American apparel manu-Canadian it droseth facturers.

Chemical Fund Comwith Stock. New York, June 18. "No matter how efficient," he Dividend Sh rabber

fulares

Loday said, "they cannot long survive Diarta Tund blaked 20 to 40 pointa Lawer against wage levels of 12 and Eaton & H. Stock with sales of 50 contrasła; 14 cents an hour," which he Elettfordes thy

Found Mut Fand After a fighter start, liquida-sald were prevalent in Hong-Hamil 74 HC-7

Instit Found tion in July disclosed a thin kong and Japan,

Xaist Growth 276-13/10-15/10 situation in the spot month Mr Frumerman

also said wilt Income

LONDON

Closing rates:

New York Montreal Ainsterdárn Brussels Copenhagen Liston

0410 Paris,

18.45

Bellers Kurėra

1.37

7.38

4.19

4.41

5.38

8.48 9.22

12.73 13.55

1994 13.09

13.17 17.30-

170 1969

11.88 12.88

1430 17.3

3.28

15.14

12.00 7.70 11.00-11.50 .$.10 6.57 10.04. 11.33 1135-19.31.

18.91

21.3123

18.49 1-2148

States UPL

---UPL

Selling was associate with low-wage countries, they are Na Bee Berrowth 9:15 Studder 81. & CLAM 18.77 the refusal of factories and planning an assault on the ap- 240v Hi. Find..

United Vilt. Lib¥ Tajid' other consumers to meet the barel markets of the higher prices UPL

Wallington Fund.

IA

T

16.77

2.80-2/10-3/18

16.5811-10.56%

139.721-129.77

19.313-19.334

80.20-10.30 20.00-20.00% 13.781-13.731 12.00-12.067 1723034-178032 18.7078.78

which dropped almost a cent that although the flood of vest Ti Borton Keystone Cust B a pound from the high to imports was now coming from Keystone Canada *** 25.49 14.50 clox on The day's lowest Hongkong and Japan, Taiwan, ya JY Tr level

Okinawa and Spain, among Growth