1960-07-15 — Page 2

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THE CHINA MAIL FRIDAY, JULY 15, 1960.

WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE

MARKET EASES SLIGHTLY

Textile shares

show marked improvement

The market in general showed a slightly easier tendency during the week was fairly evenly although interest spread.

Banks declared an increased interim dividend but met with no aprovencal and closed at $1,230.

Main leature of the week was, the marked improvement in! Nanyangs with prices reaching 3 new high. Strength in these shares resulted from rumours of favourable company news.

Textile were also up and con-¡ tinued in demand after the au- nouncement of a new issue.

Both Unions and Lombards remained neglected both closing at nominal prices.

Wheelocks Improved slightly while Wharves remained steady at $246.

Both Taikoo and Hongkong Docks dropped on proßt-taking, the former declining by $2 while. the latter ket another $3 on the week.

Providents came

under some selling pressure and closing at Te- $20.80-a fall of 40 cents on the

! week.

Other counters barely re- mained steady with some gistering slight losses.

HONGKONG

STOCK

EXCHANGE

Our Own Correspondent

Business done at the Hong kong Stock Exchange this morn- ing amounted to approximately $1,243,000. Noop quotations and the morning's transactions:

Shares HK Bank

Union Ina.

Whart Co. Waterboa! Wheelock

HK Dock

Provident

HK Hotel

Buyers Sellers

HK Land..

Yumat

BK Tran

Saler

1225 1230 40 1200

Hotels and Lands were frac- tionally down.

Utilities barely held steady In the earlier part of the week but later Trams, Lights and Electrics eased. off to register fractional losses.

HK Bank Lombard

Union Wheelock

a glance ★

Dividend

& Bonus

$48

Yield (%)

London market closes with small losses

London, July 14.

Stocks moved irregularly lower today in an un-

settled market.

The steam went out from a trickle of morning buying and the disappointing British trade figures for June kept late buyers (on the sidelines.

Industrial blue chips shared a sprinkling of minus signs al- though losses were in fractions, Steels and engineerings tended to drift downside and stores were ancertain. Bright spots were confined to companies an- jnouncing good trading results.

★ The share market at

Up or

June 16

June 23

June 30

July 1

July 14

- Down

1200

1215

1200

1230

421

400

41s

419

40n

steady. ---31

9435

91b

+$2

$3.40

3.7

6.90

7.05

7.15

7.30

7.40

+10c

250

3.6

HE Wharf

250

2506

2428

246

2468

steady

3.5

HK Docks

109

111

116

1136

110

$10

1915

Taikoo Docks

SOM

5612

-$2

$2.80

4.9

Provident

20.10

21.40

21.20

20.80

-40c

$1.10

5.0

HK Hotels

1044

414

4134

-250

$2.75

0.8

HK Lands

5034

5814

50€

$2.40

4.2

HX Realty

1.85

1.875

1.35

-2140

130

8.1

3118

3214

32b

-250

$2.03

6.5

172#

171

170

1719

+31

5.4

109

181

182

. 181

177

-54

$8.50

4.G

22.80

22.70

2244

22.30

~~~20c

$1.10

4.8

2714

28.70

26.80

28.00

28.30

-30c

$1.80

6.8

3834

384

---75¢

$1.75

4.4

50%

154

steady

7.6

Dairy Farm

211

29.10

28.80

ready

31.85

4.6

A. S. Watson

2654

26.70

20.400

25.805

25.80

steady

$1.50

Lane, Crawford

3814b

434

4314

-25c

4,5

Int'l Investment

8.10h

8.65b

8.25

8.85

+10c

650

7.4

Allied

6.155

4.05

6.15

0165

50¢

receded with International nickels the exception.

KK FE Iny Textile Corp Nanyang

14.70

JATO

14.70b

14.80

steady

90g

5.9

1014

10.80

10.90

11.10

11.40-

15.705

178

19.30

+300 +$2.30

630

5,8

31.10

5.8

HK Trans

Star Ferry

Yaumatis

Oh Light

Electrics

HK Telephone

G. I. Cement

WALL STREET DECLINES ON

New York, July 14.

| Stocks backed down from their highs on late selling today to close on a generally mixed note.

Prices, mostly strong at the

Campbell Soup Co.

Canadian Pacific R.

Case (J.. L) Co.

then

Cat. Tructur

Celanese Corp.

opening, reached their highs In ferries, Yaumatis fell off during the noon hour and fairly badly to close at $177-began to decline under slow Four dollars below last week. selling.

were

Star Ferries

rather neglected, buyers being only interested at lower levels.

Coments remained steady al $54 while in stores Dairies, and Watsons remained steady. Lane, Crawfords showed a slight loss. Sales.

At the close the undertone ap

C. I. T. Fizáncial Corp. Chase, Marhet. Bank Chryster Motors

Several of the leading elec-Cluett Peabody tronics, most of the drugs a Colombian Carbon Co. saltered specials outperformed the general list. America lower Rambler Motors lost on

Aircrafts fell out of favour peared steadier with buyers ap-after being up all of this week. pearing at slightly lower levels. Losses ran around ope

Market diary

243 26

Friday:

7.40 7.45 4000 de 7,40

111

112

380 !

00111

20.70,20.90

42 42 1500 GA

Monday:

5000 42

100 v 42)

57!

400

177 180

100 7

3214 32%

1500

321

500

500 to 32

300

400

500

Tuesday:

38 224

500 38K

1000

Ch. Ligli 22.30 22.10 Eloctite ... 28.30 2815 Telephone

G.I. Comment 54 54 Dairy Farm 28.80

Watson Allied Inv Textle Nanyang

Rubber

20 228.70

500 ar 29,90

400 kr 28.69)

3000 28.0 1500 28,00

300 ir 28,80

25.70 26.10

8,15

11.30 11.40 2000 11.40

1000 11.50

.. 18. 19.10 500 19.10

100

2000

1,05

3000

8.65 8.80 6415 56

Trust

Talke

Humphreys 23.40 23.70

HK Gas

14.00 14.70 3000

Realty

Int Inv. 8.80

H.K. & F.E.

Invest. 14.00

1025 1.35

ม

Gilman

2.025 2.10

Star

Ferry

Масло

Ropes

12.00 13 21.00

4316

Enter. Vibro,

Lane Craw.

16.80

EEZ *ઉસ -

S. AFRICA'S GOLD MARKET DROPS AGAIN

Pretoria, July 14.

South Africa's gold and

point Or more in Boeing, Douglas and United Aircraft. Polaroid give up more than five

A steady market in the cameras, Copper stocks ruled resulting in a also

last

out after moderate urnover. arm beginning. Rubbers were well

Colgate-Palmolive Co, Commercial Credit Consolidated Edison Continental Can Continea Of of Del. Crane Co.........

Distillers-Seagram

Dominion Stores

Douglas Aircraft

Dow Chemical

Dupont, de Nemours

Eastern Air Line

Eastman Kodak

LATE

Int'l Harvester

International Nickel

International_Paper

Int'l Tel & Tel

Leblon Groceteris

2014 National Cash Reg. "A"

SELLING

BONDS STEADY Government bonds steadied und short-d'hied stocks had $1 firm look. Foreign bonds were

NEW YORK

COTTON

MARKET

New York, July 14.

featured but there was further Cotton futures today turned

easiness in Greeks. Dollar stocks

South African gold shares milled back and forth to end mixed while coppers turned dull. Tins went shead selective buying after recent falls.

Oils notched small gains carly on but tended easier near the final bell, although Shell held firm.

irregular after an initial. upward push carried several

crop de- liveries to seasonal highs.

new

At the close the list ruled 15 higher to four points lower. The markel opened unchanged to up 15 points. New Oricans closed

five to 36 points.

The market lacked the de- sustained rallying power Rubbers continued yester-monstrated on Wednesday, when day's advance in response to commission and trade buying new buying but teas moved into expanded coincident with the lower ground.-UPI.

Democratke farm plank advocat- ing a return to high price sup- paris.

Closing Prices

Glitedged Bonds British Transport ~£59-15/16.

But

Consols 21%—£44%

Loan 3,

1978/88

1901

Funding Loon 35, 1958/68–28114.

NEW CROP

Today, mare traders were in- clined to wait for any new legislation to be spelled out in detail. Other skeptics questioned

Funding Stock 314 3000/2004-whether anything effectual could

"A" Lid ord-

Lloyd's Bank "A"-51a_5d. National Grindlays Bank-J75.

Insurance

Union Insurance Carton-233%.

Aircraft und Motors

British Motor Corp. Ord-188 64. Ford Motor Co-102s M.

Hawker Siddeley Group Ord-9s

Holls Royce

Rootes Lord 534 714d.

10b 6d.

44% | Royal Dutch

50M Rheem Mig

244

974 Ecors, Roebuck & Co.

Consola 4-RB4

Shell Og Co.

Conversion

201

Johns Manville Ca.

Safeway Stores

351-

£50%

Kaiser Industries

Saint Reg. Paper

Kansas C. Power & Light

Schenley Inge,

50b Kenneryll Copper

Scott Paper

27P

£84.

Kimberly Clark

70% Siegler Corp.

Funding Loan

1900/90-

3715 ton Ing

Lily Tulip

Sinclair Oli

ZST

83%

South, Kline & French

5112

Savings 3% 1953/65-£8744.

147

Socony Mobil Oil

Savings 1900/70–279.

62% Lockheed Aircraft

South Puerto Rico Sugar

1822

Savings 3. 195/75–270-9/15,

Loews 'Incorp.

29%

Southern Co.. (The

Banka

309

Lone Star Cement Co.

Southern Natural Gas

361

Barclay's Bank

Lowenstein & Sons.

431

McDermest J. Ray

Southern Railway (Com.)

57e Bd.

441%

Standard Brands

4812

Chartered Bank-51s Bd,

Crown Zellerbach Cuban Amer. Sugar

McDonnell Aircraft

Hongkong.

Standard Oil of Cal.

41%

Delaware & Hudson Co. Diamond Alkali

Merek

Mesobl Iron Corp.

Standard Oll of Dd.

3714

Minnesota Mining

Standard Oil of N.J.

403

70%

Diamond Gard ....

Steel Co. of Canada

Mission Development

144

Monsanto Chertest Co.

417%

Steep Rock

Montecatini ......

Stokely-Var Camo.

153

1877

Montgomery Ward

411%

Stone & Webster

665 Motorola inc.

16 Studebaker-Packard Corp.

20%

National Biseult Co.

Swift & Co.

Texas Cu.

а fairly

120

National Dairy Prod.

Textron Inc.

El Paso Natural Gas Family Finance Corp. First Nal. City Bank

National Lead

2015

National Steel Corp.

772

New York Central

Time Inc.......

Noranda Mines Ltd.

3871

Traders Finance

Norfolk & Western R.

ona?

Tri-Cont, Warrents

North Amer, Aviation

412

Twentieth Century Fox Film

ECT

Northwest Airlines (Com.)

Union Carbide

129

Oklahami Nat. Gos

Union Of of Col.

Olin Mathieson

American exchange

volume

Gen. Pub. Ul.

25%

Cils Mevators

Gen. Tyre & Rubber

58% Owen-Illinois Class

was 800,000 shares.

Gelly Oil...

Bonds volume cmounted

10 Glidden Co.

439%

Pan American Airways

Goodrich (B. F.) Co. Gnodycar Туге

5612 Paramount Pictures

Parke Davis Co.

Penn. Selt Co.

Grumman Al 'craft Gulf Cl

Philip Morris

50% US. Smelting

€31.32

Hammond Organ

Pitney Bowes

338.44 Heyden Newport Corp.

Procter & Gamble Co.

117

3754 US. Steel .....!

221%

94.10 Hiram Walker .....

281%

Pittsburgh Plate Glass

611

206.28 Homestake Mining Co.

2734

Publicker Industries

1.9, Steel 7 P.C. PF Wamer Bros.

Waukesha Motore

63.30 | Human Refrig,

Pure Oil

#532

Radio Corporation

Westinghouse Air Brake Westinghouse Electr

311

Radio Corp. Pret

Western Union Tel Co

431%

Raytheon

410%

451

Republic Steel.

West Va. Pulp & Paper

717 Winn-Dixie Stores

481

10%

Reynolds Metal

GOV

Woolworth (K.W.)

6621

45#

Reynolds Tobacco

7412

Zenith Radio

110

Royal Bank of Canada

65-14

supported. Busi- Today's volume was 2,480,000

ness amounted

transacted shares.

ap-

Of a total 1,191 shares traded, proximately 424 were higher and $11 lower.

$1,917,0000.

Textile shares were

in demand with

Nanyang cuching $4,470,000.

a new high. Turn- ! over amounted to f $3,479,000.

Dow Jones closing averages:

30 Industrial

20 Rails Although interest 15 Vlities was evenly spread 85 Stocks

40 Bonds... prices generally

Comm. future price index showed slightly easier tendency.. Lands,

Wheelocks

Closing Prices

and Dairies attract Abitibi Pur. & Faper ed most attention. Alden Inc. Acy. Turnover was ap- Algoma Steel Camp. proximately Allied Chemical

$3,418,000,

Wednesday: The

Thursday:

market

Allied Ms Inc.

Allis Chalmers Am. Brake Shpe was American Airline sleady but feature- American Cable & Radio Corp. less in moderate American Cyanamid Co. active trading dur-Ames, & Form Power

Am. Gas & Electric

ing the half day An. Home Prod session. With the Am. Mach. & Fdry exception of American Metal Cements which im-Am. Natural Gas

American Smelting proved slightly, Am. Sugar Ref... rates were virtually American Tel. & Tel unchanged. Volume American Tob.

Ampex

Mining

of business was ap- Anaconda Copper proximately Armes Steel $1,376,000.

Armour Atlas Com The market main- Baldwin-Lima-Ham. Lained

Baltimore & Ohio steady Bank of Montreal undertone through Bar of Nova Bootla out the day: Volume Beech Life Savers of business tran- Beneficial Finance

Bell Teletroewe sacted

was ap- Bendix Aviation Corp. proximately Benguet Cone. $2,188,000.

U.S. INVESTMENT QUOTATIONS

The following are U.S. invest-

foreign exchange holdings ments in

American dollars.

dropped again last week Buyers prices include commis-

by £281,440 against the slon:—

previous week's decline of Amated Furd

£7.4 million.

Financial observers here say "the decline in reservés has been checked."

Holding's by the South Alrican Reserve Bank, have boen slumping steadily Ence the authreak of rucial fibience leet March and some business-

Am Bus Shre Atom Dev Mut Axe Hought B

Bullock Fund

Canada Gen Fund

Canadian Fd

Feller Buyers

Bethlehem

Bosing Applene

Border (The) Co. Burroughs Add Machine British Amer. Ou

British Columbia Pwr. Calif. Packing Corp. Cana. Bk. of Comin, Cana. BroWETS

NY sugar market

| Ford Motor

Georgia Pacific

General Dynamics General Electric

General Foods

General Motors

144.02 Idaho Power

Imperial Oil

Imperial Tobacco Ingersoll-Rand

Inland Steel Co.

$ 391 | Interchemical Corp.

0035

Int'l Business Machines

Yesterday's Closing

Pacific Gas & Elec.

90% Thiakal Chavn.

Tide Water O

41% Union Pacific Railway

United Aircraft

United Frut

United Gr Corp.

184 US. Fol! "B"

US. Gypsum

45% US Line Co.

25% US. Rubber

COMMODITY PRICES

RUBBER

NEW YORK

LONDON

Closing prices, all in sterling

per long ton.

Tin

1008

Buyers Sellers

809

SUGAR

NEW YORK

30%

45%

Closing prices all in cents per

800

3-month

8031% ADA

Copper

Spot

25614 257

3-month

2491

240

Lead 1st half July

2016

Oct. Zinc 1st halt July

71% 1b.;

001%

2012

37.10

38.50

UPL

Mar

Rex rubber futures Losing prices, all in cents per ib.: 2016 July

Fent

Nov.

4514

зал

MAC.

492% May

3476 July

201

SINGAPORE

Closing prices all in Straits cents per lb. 1.o.b. Malayan

39% ports:

738 $7.99

New York, July 14 423 441 World No, 4 sugar fatures to- day slowed unchanged to four points lower with sales of 417 contract.

6,29

3.18

12.23

13.99 12.00 13.64 1587 17.17

6.30

Canadian Int Growth 10.07 11.01 The Domestic No. 8 contract

11.50 1244 Chemies Fund

closed unchanged to two points Comwith Stock

15,75 77.17 297 338 higher with sales of 29 con- Dividend Sh Dreyfus fund

15.00 28.35 trants, Eston & H. Stock 11.077

12.00 Electronics

Prices were sensitive to small men connect the decline with Found Hut Fund

1088 1133 orders either way while traders. South Africa's macfal and poll Fund Invest

932 10.10 pondered the Cuban situation. fical unrest.

Group Com Stock

1330 13.45 and awaited raw market deve Haid Y4 HC-T Insit Found

11.65opments... Kit Growth -Ingiit "Income-

Reserves now stand at 2107 million.

The punication of declining invest Te Borory South African reserves, especial- Keystone Cust Be ly in the foreign, press, gas ale. Keystone Canada tacked by the afimeter for Erase

Mass Growth

ternal Affairs, Me Eric Louw. Nat Sec Ber Growth who claimed some South African Scudder Be & Ci joenalists and businessmen de Telev i Fund lighted lá sedding such gloomy Value Lane Fund

V. 1. P. nawa abroad, JAP

Welington Tund

5.09.

10.85

$11.00 12.13

No. 1 July

LAUK

No. 2 July No. 3 July

COTTON

Contract No. 4 (world)

Sept: 3.30; Oel: 3.28; Jan: 3.33; 2.17; May: 3.10; July: 3.19:

Spot (F.AS, Cuba): 3.30.

Total Sales: 417 contracts. Open Interest: 5.112 contracts.

Contract No. 6 (domestic)

Sept: 8.06; Nov; 8.07; Spot-{C}{. NY. ex-duty): 5.95.

Total Sales: 29 contracts.

Open interest: 3,120 contracts.—

110-130%

110-111%

NEW YORK

1004-1097

UTI.

108-109%

Closing prices all in

cents

No. 4 July

Spot rubber unbaled... 110-11094

106-107 per ib.

Spot

34.10

Get

31.08

LONDON

Dec

31.17

Closing prices all in pencĆ

Mar.

FLAT

May

31.83

per lb.:

July

No. 1 Bas spot

301-31%

Oct.

Settlement house

term:

Aug.

314-311

Ded. Mar.

-Jan./Mar.

Apr/May

Вера

Estate rege

thick. July

July/Sept.

Oct/Dey

General markets, c.lf, basit,

Aug.

thin Juff

METALS

Closing prices at in cents

Ceylon yesterday reported. 11.39 1223 bought 10,000 tons of raws from 2139 22 Brazil and 10,000 tons of refined 13.88 14.99 from Rumania. Dealers said the TE 1611 Saker 10,000 tone of Philipplies | për 15.

881 9310 Ceylon had heen cancelled. 18.84 18.0 Morocco will be in the market 199 904 on July 20 for 25,000 tons of 11.50 12.13 raws and b further 20,000 tons. 34.13 15.30 on July WAKUFI,

GAF

Lead July

Eine Aduly

NEW ORLEANS Closing prices all in cents per

Spot

FOREIGN EXCHANGE

31.90 Canada

NEW YORK Closing rates; England officiat

31.12

-31.55

90-days

91,83

New Zealand-

31.96

31,54

31.84

39.30

LIVERPOOL Closing prices all in' penes per lb.: k

American Contract

21.45

Oct/Nov. Dec/Jan,” Mar/April.

30-days

South Africa.

Others unchanged.

LONDON

Closing rates: New York Montrea AMKISZÁNTI Brunels

72.10. Copenhageni

-22.50.. Frankfurt

Lisbon

Mixed Confriet el Munt (ORA

22.70 Paris 296 Stockholm

Milan Viente

Futy/Aug

Deby Jan

1.0236

2.5000

2.8040

2.7955

2.7000

2.8180

be accomplished when Congress reconvenes In August, or whether they would have to. wait until next January.

New July crop, after selling up to 23.15 cents 1 pound, dropped back 15 points to close with a smet net loss. Trade buying cushioned the decline in nearby months.

Weather and crop news con- tinued to be mostly favourable, while the textile trade remained rather dull.

Raw cotton exports for the season total 6,651,595 bales

Standard Triumph International-against 2,717,902 bales shipped

Bd.

UPL

in the same period last season,

Breweries

Distillers Co-39% 3d.

South African Breweries 23% od

Associated

Building and Materials

11⁄2 Goodlan

450

Portland Cement-078

Wall & Lead Ord-80s

Coal, Steel and Engineering

Babcock & Wilcox Lid-17 11⁄2d.

United Steel-78s 38.

Vickers Ltd 353 3.

Food and Tobacco British American T Bis 1014d.

Ca., Lid

Imperial Tobacco Co., Ltd-649. Miscellaneous

Boardman Marden Lad-33 1011⁄2d. British Oxygen Ltd. Ord-100s 3d. Canadian Pacific Riv--843'5.

De La Rue Co, Ord-84

Dunlop Rubber Co- 238 7ted.

Gilman Holding Ltd-25 3. Hongkong China Ga-10 d. Imperial Chemical-33 04. Lyons & Comix Gd.

Unilever Ltd-166 1140.

Paper

Bowater Paper Corp Ord---563 64.

Radio and Electrical

Associated Electrical-s 3d.

Electrical & Musical 49

English Electric Co.

General Electrie-358 0.

Indo-China Steam

Rubber

market

review

Singapore, July 14. Overseas advices were again lower than expected and early selling found buyers reluctant to meet the market.

Nevertheless after initial sell-

Bhipping Nav. Co. der ing had dried up, the pattern P&D Steam Navigation def ord-lished itself and shortcovering

ord 240 34.

30s Bd.

Stores

Debenhams, Ltd. Ord-480 6d, Great Universal Stores "A "B¶. Marks & Spencer Lid-78 04. Woolworth F. W. & Co-46a 11⁄2d.

Textiles Chate J. & Id-49% 3. Courtaulde Ltd.- 8.

Mpes

Cons Goldfields of South Africa-

Cana Zine Corp. Ord-79%,

De Beers de-1438 1d.

Horpoat Thu 11 34.

Petaling Tin-7s 101⁄2d. Rand-ils 34

Southern Kinta Cons Ltd-276 d. Union Corp-52% 111⁄2d

West Driefontein Goldmining-l #1.

este 438 124.

બા

of the last two days reestab-

from upcountry centres firmed the price.

Lower sheets were neglected and there were no indications of overseas orders in support of higher price.

The market closed quiet,

In New York, rex rubber futores today closed six to 30 points, higher with sales of 53 contracts.

After market

FIRM

a hesitant start, the showed arming ten-

British Borneo Petroleum, Syndi-Cencies which held to the close. British Burman Petroleum1 d. British Petroleum Co. Li0-500

Burma-41 0.

Royal Dutch Petroleum-£12 Shell Transport & Trading-1364.

--Reuter.

Britain's

trade gap widened

London, July 14.

The uptrend was alded by covering in the expiring July delivery and & scattered dealer- commission house demand en- couraged by the firmer London close.

in the delivered market, consumer demand was spotty, but smalt on the whole. Dealers thought the lull might continue for a week or so, or until the factories return from vacations. Current Monih No. 1 Rss was quoted at 41% cents, nominal,

In London, the rubber market I was uncertain with spot quoted

at 31% pence.---UPI, ¦

Britains trade gap widened Agreed merchant

by some £30 million in

June to stand at £99.1

million

official figures

showed today, de

rates

Canadian #. Maximum Selling

It was the widest gap in three 17-3/32;

Minimum Buying

years, and follows a steep rise 17-11/92 T/T, 17-18/32 O/D

in imports

Swiss Francs ·Maximum

Exports In the second quarter. Selling 75%:

of the year slumped by three

per cent against the Arst quarter

275-5/15-3125-7/15 and were only eight per cent

Exchange rates

higher than "the 1959 average, after seasonal adjustments,

Imports, however, continued Whines: WAE {done, in the Tool -their-rapid-oilmb and were 13exchange moming at the following per cent higher in the dras six US goller (par 31) Trionths of this year than the Stering notes. (per £11 1958 average, provisional figures Ausra moter (per 21)

1960-07-15 — Page 2

Comments

Private Research Note