1960-07-01 — Page 2

THE CHINA MAIL,

FRIDAY, JULY 1, 1960.

WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE

London stocks rule

MARKET REMAINS STEADY quiet under

Small turnover

results in

little movement

The local stock market closed a short week of fractional movement with a comparatively smaller turnover.

fractional,

The market was not affected and any changes were only by a possible bank rate rise and it is doubtful whether brckers' clients would be in any way affected at the moment.

At the close yesterday there was a feeling of optimism of n betler market for the coming week.

In general prices during the week reina ined fairly steady

NEW YORK COTTON MARKET

New York, June 30.

off slightly Banks eased closing at $1,200 from last week's price of $1,216.

Lombards remained untouched with sellers at $41, Union al- though fairly well traded in last $1.50 on the week.

Wheelceks were a fraction down.

There was Hile interest in Wharves and they closed at $242 sellers.

Docks improved on the week with rumours of land sales still riersistent.

Hotels remained bullish and closed fractionally hgher on the weit. Lands were well trade- ed in with buyers appearing at slighly lower levels.

Utilities showed little change, Trams were up 25 cents while Star Ferries lost a dollar and Yaumalis added the same.

Both the electric companies

Cotton futures today main-remained steady with only

BR Babk

Lombard

Udob

The share market at a glance ★

་་

June 2. June 8

14

June 16. 1201

23

30

Up or Pown

Dividend & Bonus

Field(%)

$15

steady

#2b

-$2.50

Warblock

6.90

+100

250

#R What

2

-38

HK Docks

113

105

+35

Taikoo Docks

59

584

561

steady

$2.80

Provident

20.90

20.20

20.10

21.40

steady

$1.10

HK Hotels

4214

40%

40%4

+25c

$2.75

4.9 5.4 6.8

Ik Lands

39

365

-500

$2.40

HR Realty

1.875

1.88

1.85

1.875

steady

HE Trlins

314

814

BUY

€214

+250

$2.05

Slar Ferry

130s

172

170

$9

Yaumatis

171

188

169

182

$8.50

2214

21.80

$1.10

Electrica

28.30

+10¢

BK Teleph

STEE

+250

G. T. Cenment

52

50%

54

Dairy Farm

28.40

27.90

271%

29.10

+100

31.85

A. Ş. Watson

26%

26.60€

20

26.70

26.40b

--200

$1.50

Lane, Frawloft

1014

41s

sab

134

steady

$2

Int'l Idebatment

8.75

6.70s

8.85b

8.28

+100

Вре

Allied

G:40s

6.40%

6.135

-6.05

6.15

+100

HK FE Inv

15.20

15.30%

14.70

14.70

14,700

steady

90c

5.9

10.80

2011⁄2

1034

10.80

10.80

+10%

B50

€

15.60

15.90%

16.TOS

17

17

steady

$1.10

Ch Light

Textile Corp Nanyang

Wall

on

8,4

Street declines TOURIST FARES

late selling

New York, June 80,

tained an overtone of fractional movement on the ap- The stock market fan into a brief selling wave toward the close of trading steadiness through an-pearance of sellers. other dull session.

Telephones eased off by 25 cents on the week although The buyers continued to be attracted Cements remained steady

At the close the list ruled four higher to three lower. market opened up two to off five

today.

Until then, the main body of | Heyden Newport Corp. stocks presented a generaly momestake Mining Co

Hiram Walke The late serig Husman Early. points. New Orleans closed up/ while in stores Dairies came in was enough to turn many of the Idaho Power

seven to off one point.

for a spate of buying with little Lane, Craw- In the absence of pressure, price movement, prices showed small gains most furds remained the same.

In the rubber section Rubber of the time, reflecting covering in the expiring July delivery, Trust showed a good gain with and evening up by comunission rumours of a possible return of form of a cash houses in new crop months be- capital in the fore the long weekend holiday, bonus,

Crop news was mostly on the favourable side, although Texas reports emphasised increasing insect activity in various sec tions of the state.

No delivery notices appeared against the July contract today. The spot month open interest

totalled 34,700 bales. The certi- ficated stock total 3,588 bales, off 691 bales from the previous posting yesterday.-UPI.

U.S. INVESTMENT

QUOTATIONS

The following are US. Invesi-

ments in American dollars.

In cottons both Textiles and Nanyang closed unchanged.

Market diary

Friday:

Monday:

Buyers' prices include commis“ | Tuesday: sion:

Anlisted Fund

Am Bus Slurs

Atom Dev Mul

Axe tought B

CREE

Sellers Buyers

731

7.91

4.16

4.44

534 580

848

922

Eullock Fund

12.00

13.88

Canada Gen Fund

12.63

13 A

Canadian Fa

15.75

17.04

Canadian Int Growth

9.88

10.20

Chenleal Fund

11.73

12.00

Com with Stock

17.23

Dividend Sh

255

324

Dreyfus Fund

15.15

10.47

Eaton & H. Stock

12.03 12.88

Electronics Jay

7.78

8.50

Found Mut Fund

1030

Hamil Fd HC-0

.5.05

6 52

Inuit Found,

30.52

1151

Instit Growthì

F1 20

12.31

Inglit Income

0.19

6.77

Invest Tr Buster

11.16

Keystone Cust 2

21.34

12 20: 23.20

Keystone Canada

19.07 14.10

Mass Iny Tr

13.37 14.45

Mass Growth

15.09 16.31

Nat See Ser Growth 901 9.85

Scudder St & Ci

18.73

18.73

Telev El Fund

8.41

Valur Line Fund

0.42

V. J. P.

1120

14.13

Wellington Fund

sppearance.

marginal gains indo small losses.

The industrial stock average was helped by a gain of more than 5 points in General Foods and around 2 points in Du Pont. Changes in other blue chips were slight in both directions.

Imperial O

Ingersoll-Rand

Inland Steel Co. Interchemical Corp. Intl Busines Machines Ins1 Harveste Dnternational Nickel Internacional Paver Int'l Tal. & Tel. Johns-Marville Co Kaiser Industries

Kansas C. Power & Light Ketiket Copper Southern Co. The) Southem Natural Gas Kimberly Clark

gett & Myers Tob. Co. Lily Tulip

Brokers expected the market to coast along this week because of the intervening July 4 week end. They diso pointed out that was the approaching political con-

ventions and the uncertain busi-Litten ind. ness outlook were apt to keep many traders sidelined for time.

The market cetive during the day with little price changes. Volume of business was ap- Broximately

$4,203,000.

Today's volume was 2,940,000 shares.

Lockheed Alteraft

Loews Incorp.

а Lone Star Cement Co. Dowenstein & Sons.

Of a total 1,221 issues traded 487 were higher and 481 lower.

Dow-Jories closing averages

The market main- tained 2 steady

Honz were: undertone. kong Gas and 30 industrial Cements were 20 Rails

Volume of business 65 glocks

especially favoured. 15 utilities

Aransacted was ap-40 bonds

640.62

McDermott J. Ray McDonnell Airuraft Merek

Mesabt Iron Corp Mission Development Monsanto Chemical Co.

Montecatini

Montgomery Ward

Motorola Inc.

143:19 National Biscuit Co.

93.39 National Cash Reg. "A

Droximately Comm future price index 145.58 $3.220,000.

Tding was rather

Closing Prices

reduced with prices Abitibi Per & Paper

Aiden Inc. Aty..... slightly casler. Busi- Algoma Steel Corp.

amounted to Allied Chemicals Approximately Allied Mills Inc.

ness

$2,497,000,

generally

Am. Brake Shoe

American Airline

Am. Cable & Radio Corp.

Wednesday: The market American Cyanamid Co.

ruled Amer. & Foreign. Power Brm during the halt Am, Gas & Electrie day

with Am. Home Prod. session

Am. Mach. F. dry. trading on a res-American Metal tricted scale and Am. Natural Gas

American Smetting Am. Bugar Bet.

prices showing little change. Turnover American Tel & Tel was around American Tob.

Amper $2,114,000,

Anaconda Copper Thursday: The market harden-Armco Steel

Armour

P&O

ed in absence of Asbestos Corp. scrip. At the close Atlas Cons, Mining the undertone was Baldwin-Lima-Ham.

Baltimore & Oblo Arm. Volume of Bank of Montreal business was 3D- Bank of Nova Scotia priximately $3,800,- Beech Life Savers

Bell TelephoZe 000,

Beneficial Phee Bendix Aviation Corp.

R.M.S. "CORFU"

IMPORTANT NOTICE

Owing to unavoidable circumstances the mailing of

"CORFU has been delayed until 6 pm, on Saturday, 2nd July 1960.

Benguet Cons.

Bethlehem Steel

Boeing Airplane

Borden (The) Co.

Burroughs Add Machine

British Columbia Pwv.

Cana, Bk. at Comm,

Cana. Brewerk

Campbell Soup Co. Cabudiah Parle E.

Case (J. 1) Co.

Cat. Tractor Celanese Corp.

C. IT Financial Corp.

Chase Martha

Chrysler Motors

Bank

Chief Peabody Colgate Palmolive Co.

Colombian Carbon Co.

Coffmercial Credit

Conwildsted Edison,

Continental Cam

Continental Oll of Del.

Crane Co.

Crown Zelienbach

Cuban Afër, Sukar

Delevare & Buon Co. Diamond Alkal

Diamond Giard Distillers Beagrams

Dominion Stores

Dicuglas Aircraft

Dow Chemicit

Dupont de Nindales

Eastern Air Line

Pagtites Kodek

ar

El Paso Naturna Fadly Finance Corp Firestone Tyre & Rubber First Net, Chy Bank

Ford Motor

EMBARKATION: Passengers, should einbark between Ford Motor Co. of Cana.

2.30 p.m. and 4.00 p.m. on Saturday,ges Pucille 2nd July 1980,

BAGGAGE:

Baggage will be actepbed

General Dymander Gence Egotrip

Genen Food

Gen, Plut, HBL

the dene&e

Hong Kong & Kowloon Whart Co.'s Godown (No. 2 Gate) up to 5.00 p.m. on 1st July 1969.

Getty Dil

and Cd. Condich (Ur

Goodyear

REPLACED BY

ECONOMY CLASS

selective buying

London, June 80. Industrial stocks made the Filligin" gulet markets today under selective buying With the institutions. showing interest," but gains

were small.

Bowater Pre Chiep dedila od.

Electricit. **INE|1=86% 38. English ENT DESA SA, General Elect

Shipping Indo-China Steam

-2 St.

The blue-chips kept firm with} stock not in plentiful supply. Stores met buying with Build- ngs and textiles and the pro- perty groups were in demand.

Britain's better-than-expected quarterly balance of payments gures and the production Index helped sentiment but the busi-393 1140. 1 ness volume stayed small.

Nav. Co, dež Steam Navikation det ord-

Stores Debenhams, Ord. Lid—lés 18ad,

..

Gold mining shares ended mild Stores

with small losses dominating the list. Coppers receded and tins went easier despite the highest price for the melal hr 34 years.

Japanese aià Grebes held fitn in the foreign band market. dollar stocks were mied.

Cuban moves against Texas Oil Co caused anxiety In oils which ended easier.

Teas were quietly irregular but rubbers were steady.-UPI.

Closing Prices

Gutedged Bonds

British Transport 35. 1978/89- 210-1/16.

Consols £43-15/10. Consels 4-EBOYS.

Conversion Loan Sik. 1801- £59-11/10.

Funding Lean

1939/00

Stock 3, 1999/2004---

£90-5/18

Funding

Funding Loan -4%. 1900/90-

204.

£6776-

9d

Savings 3, 1955/65–2882A Seving 3 1060/70-273-15/16

Savi, 1285/75-27141⁄2.

Banks

Barclay's Bank "A" Lid ord-649

Sd.

Chartered Banic-5 Hongkong-281. -

South Puerto Rico Sugar

Southern Railway (Com.) Sperry Rand

2414

102

Standard BAN

4714.

Standard Off of Cal

4134

A

Standard Oil of Ind.

Montreal, June 30. Transatlantic airlines carried their last tourist-class passengers today. Starting tomorrow, the tourist

Standard Oll of NJ,

40%

22

Steel Co. of Canada

Steep Rock....

7%

622

Stone & Webster

fares that were started eight years ago will be

as

50%

Studebaker Packard Corp.

B

replaced by lower-fare

Sunshine Mening

100

Swift & Co.

47

Texas Co.

Textrop Inc.

361 | Thakal Chem.

20%

Tide Water ON

Time Inc.

Traders Finance

Tri-Cant. Warrants

Twentieth Century Fox Film

82% Union Carbide

M

Union Oil of Cát.

771 Union Pacific Railway

United Aircraft

24

United Fruit

2916

United Gas Cofp.

102%

U.S. Folt "É ̈

2271

US. Gypsum

3 US. Life Co.

U.S. Rubber

734 US. Smbling

1

US. Steel......

44

1920

U.S. Steel 2 P.C. PF Warner Bros.

421% Waukesha Motors

1723% Westinghouse Air Brake

647% Westinghouse

ecric

62% Western Ualon Tei. Co,

West Va, Pulp & Paper

211.15

National Dairy Prod. National Lead

61

Winy-Ege Stores

82.87

National Steel Corp.

83%

Woolworth (K. W.)

New York Central

221

Zenith Radio

Noranda Mines Ltd.

Norfolk & Western Ry.

North Amer. Aviation

$384

Northwest Airlines (Com.) Oklahama Nat. Gas

52

317

Olin Mathieson

g

B

Otis Elevators

55% Owen-Illinois Glass

4114

Oxford Paper Co.

Pacifc Gag & Elec.

20% Pan American Airways

Paramount Pictures

Parke Dovis Co.

6 Pen. Salt Co.

67 Philip Morris

184% Pitney Bowes

Procter & Gamble Co. Pittsburgh' Plote. Glass

Publicke Industries

14 Royal Bank of Canada

279%

2014

economy class;

3914 purt

The International Air Trans

Association (IATA) said 17that tourist service was "the first

37 great breakthrough in the drive 2414 toward muss air transport be 3715 tween

Europe and North

America." It said tourist fares eventually led to lower-fare classes around the world.

Ed

Union Idsuffice "Cahide Canton--

Aircraft and Motors British Motor Corp, Ord-17% 3d. Ford Motor Co-111s 34.

Hawker Siddeley Group Ord-28

Rolls Rock Lid Old-449 1011⁄2d. Rootes Lid. PAIN AN Standard Triumph inferriations?-

9s 715d. Breweries

Distillers Co-3# 11⁄2d. South African

Buldid

24 Bd.

Associated Portina Cement-088. Goodlass Wall & Lead Ord-528. Cual, Steel and Engineering Babcock & Wilcox Lid-30s 24. United Stap-77s. 50,

132

40

27

SOLA

43%

112

Statisticians estimated 3,107,000 passengers will have 26 flown tourist by midnight" to- W night, when an "economy class" 301 Inaugurated on April 1, 1958 will 80%

that

Vickers L-3 d.

Tood tha Tobacco

608 34.

ád

4:52

141 replace the lourist class.

48%

$792

13

First cluss Passengers are

de given

luxe, multi-course

meals and free liquor; while 37 tourist or

*

d

Marks & Spencer Ltd-756 Hid. Woolworth W *. Co-543 439

Textiles

Conta&u

Courlausda Lid="850" $4.

io.

Cons Goldhelds of South Africs-

1938.

Conn. Eine Corp. Ord-261.

De Beers def––14 9d.

Hongkong 1 folgd.

Petaling, in- Oct.

Rand- 3.

Southern Kihta Coha Ltd- 34. Union Corp-52% 3d."

Wat Driefontein Goldmining- 614 30.

British Borneo Petroleem Syndi car, 1014.

Brillan Burmsh Petrolkim-la 90. British Petroleum Co., 144-511 Burmsh

Royal Dutch Petroleum-4139) Shell Transport & Trading-lizi. Ränter

Rubber market

review

Singapore, June 30,

The market ruled very quiet

for most of the morning at Just below last night's level but after ba federation and local liquidation shaded prices By one cent before interest returned to marķē....

The afternoon was

with

cratic

volume of trade good.

Price changes were fast and

sheet for most moncha,

British American Toh, Co. La fairly wide with interest. In one Imperial Tabana CB.. Lidl's

Miscellaneous Hoardman Marden 1943 34 British Oxygen OH-863

Canadian Pacifc 144. De La Rue Co. Ord-80s 3d. Dung Rubber Cos 164. Giman Holding Ltd-21 440. economy passengers 501 receive less lavish meals and sit

Hongkong & China Cos-188 33. 72%

three instead of two abreast- Imperial Cheralcat-00 84.

Lyons & Co-797. UPI.

Yesterday's Closing

Univer Ltd-1709 64.

COMMODITY PRICES

Average price in U.S. at 14 de

AMSTERDAM

Closing prices all in guilders

signated spot markets; 32.25 cents per kilogram, eil July, «

Total sales: 7003 bales.

LIVERPOOL

Closing prics all in pence

SAO PAULO.

6431

All unquoted.

51

Pum

254

Pure Oil

METALS

Radio Corporation

50%

Raytheti

39% Republic Steel

48

Reynolds "Tobacco

NEW YORK

Royal Dutch

per lb.:

Closing prices, all in

American Contract

cents

B2 Sears, Roebuck & Co.

per b.:

Lead July

11.22

Bept.

11.45

Zinc tài

Sept

Copper July

Sept.

32

23% Bheem Mig.

14 Shell Gil Co,

384 Safeway Stores

5446 Saint Hog. Paper

35%%% Schenley Tor.

423

45

23

Scott Paper

Siegler Corp.

Sinclair On

8314 Smith, Cine & Frenc

1

Socony, Mobil Du

Solar Aircraft

New scheme

to improve UK's cotton industry

London, June 30. Regulations to confirm and

bring into effect the re organisation schemes for the cotton_industry's Anlahing sections were laid before Parliament today.

Unless the regulations are rejected in the next to sitting days, they will automatically became law on August 17

Similar schemes for the spinning, doubling and weaving Petips of the cotton industry cine into operation on July 30, 1959.

LONDON

11.30

11.43

31.00

30.42

Closing prices, all in sterling per lang ton;

July/Asg. Oct/Nov. Dee/Jan Mar/April May/June

Mixed Contract

July/Aug. Oct, Nov Dec/Jan Mar/April May/June

22388

88933

HN

20.00

8A88;

No. 1 rubber

Nd. 2 rubber

No. 3 rubber

No. 1 crepe

3.35 buyers

3.33 blyers

3.31 buyers 3.49 buyers

UPI.

SUGAR

NEW YORK Closing prices all in cents per ib.:

Contract No. 4 (world)

Spot (FAS CBT)

In New York, sex rubber futures, today closed live to 35 bolts lower will sales of 114 points contracts

After a Shaky start, the market regarded a measure of stability on coyeiing in July, plus

the retirement Pt some speculative shorts, before the Lone

weekend holicity. Spot July, after being down as polits, erased about half of the loss.

Dealers sald factory Merest in the spot market was practically {non-existent before the weekend holidays and the impending vacation period.

Locally No. 1 Ras was quoted 40 cents, nominal.

In London, the rubber market was barely steady with spot quoted at 351⁄2 pence,

In Amsterdald the rubber. market was steady today - UPI.

S. Korea may

adjust her exchange rate

Secul, June 30.

The Bouth Korean goyera- ment is advisaging a radjust- ment of the hwan-US dollar exchange rate when it receives recommendations which have the Inter- 108 been asked from 300 national Monetary Funds, official

sources revealed today.

22.65

22.83

22.05

-UPI.

Buyers Sellers

July Sept.

Oct.

Spot

607

3-month

724

Copper Spot

RUBBER

Mer

May

3-midath

23635 245

Zine Zud half Jahe Sept. Lead and half June

99

Sept

-UFI.

Rex rubber futures closing prices, all in cents per 1b:

Sept

July

44.55

Nov.

Sept.

40,24

39.00

Nov.

Spot (C, NY, ex qut Tobi Same: 117 contract.

Juri.

38.50

Open Interest: 3429-böhtru

UPL

Mar.

37.25

37.60

May

July

37,28

COTTON

NEW YORK

SINGAPORE Closing prices all in Straits cents per ib. 5.b. Malayan

NEW YORK Chasing palced fall in center ports: per: 1h:

No. 1 July No, z July

Spot

34.25 nom

Sitly

22.85

Oct.

31.07

Dec.

31.18

Mar

51,60

MAY

31.8x

July

31.29

Oct.

Doc. Mar.

31.74

22.19

NEW ORLEANS

Closing prices all in cents They are all part of the || per: lb: „government's.

year plan for

£30,000,000-£ve».

21.30

21306

31.17

31.58-

1183

31.85:

No..

No.

11776-11836 118-118 118 113 215-1180

Spo4" rubber unbaled. 1973-1999

FOD-1093% 1317

pence

Settlement house term:

Total Sales: 370 contracta, Open interest: 5,737 contrials.

Contract No. 6 (desnestfo).

FOREIGN EXCITANCE

NEW YORK Closing rates Canada"! Others unetanged.

LONDON

Clostrig rates:

New York

Montreal

Amsterdam

Frankfurt

bon:

The official rate is now 600 755 byan to one US dollar, black market rate is between 1300 abd 1500 hwan to the collar. Former President

6.42 Rhee had adamantly opposed 6.04

realistic revisions of the hwan dollar rate which had long been demanded by the US govern ment the sources added. —AFP.

1.02

NY sugar market

New World No, Bigar Injures

Domestic N. & sugar closed 1 higher to 1 dolat: igher, ofiti

sales of 417 Cintras

Liquidation in the