1960-08-11 — Page 2

COMMODITY PRICES

LIVERPOOL Closing prices all in pence per lb.

Oct/Nov.

SUGAR

American Contract

THE CHINA MAIL, THURSDAY, AUGUST 11, 1960,

METALS

NEW YORK

Closing prices, aff in cents per

Ib.:

Lead.

SIPL

Dec/Jan.

Now.

Mar/April

Zinc,

May/June

Sept.

in cents

Mixed Contract

Nov.

Oct/Nov.

Copper.

Dee./Jan.

yept.

Mar/April

Nov.

NEW YORK

Closing prices all

Contract No. 4 (world)

per lb.:

Sept.

Oct.

Jan.

May

Juw

Spot-(7.4.1, Cubay

Total Sale 253 contracts,

Oper. interest: 4,158 contracta

2398835

May/June

RUBBER

LONDON

11.10

11.18

11.44

11.38

30.27

30.15

Closing prices, all in sterling

per long ton.

Tin,

ADOR

3-month Copper,

240%

Bayers Sellers

800

501 808

Contract No. 8 (domestic)

24615

3-month

24032

24513

Sept.

31

Nov.

NEW YORK

Led but am

Jan,

201

Mar

Spot-ICII MY. ex-duty)

Total Safer: 152 contracts.

Rex rubber futures closing prices, all in cents per ib.:

37.00 Sept.

Auz

7024

Nov.

71%

Zinc, 1st half,

Aug.

Th

Open interest: 1,788 cuntracts-UPI,

Nov.

35.75

Nov.

891%

Jan.

35.20

881/ -UPL

34.9.1

Mar.

34,60

May

July

34.30

COTTON

NEW YORK

Closing prices all in cents

SINGAPORE

Closing prices all in Strait,

per b. f.o.b.

cents

ports:

No. 1

Aug

No. 2 Aug.

Sept.

No. 3 Aug.

No. 4 Aug..

Spot rubber unbated

FOREIGN EXCHANGE

NEW YORK Closing rates:

OSTE

30-days

Austria

New Zealand

South Afric

Malayan:

10414-104

10424-105

10394-10434

per lb.

103-10314

Spot

32.60

Get.

34 03

Dec.

31.20

Blanket crepe

303-10312 1037-104 96-97

Canada

1,08-3/32

Englark

2.8170

Mar

31.73

No. 1 pale crepe

114-115

2.8002

May

32.10

LONDON

2.2485

July

32.18

Oct.

32.45

Closing prices a

in perice

2.8007

Dec.

3241

ber be

2.8145

Mar

32 67

No. 1 R upot

2922-3045

May

32.85

Others unchanged.

LONDON

Aug

20-30

Closing rates:

301-30-14

New York

Closing prices

all in

30%-30%

Muntreal

per lb.

Spot

33.00

Jan./Mar. Apr/May

297-30%

Amsterdam

2979-29974

Brussels

Ort

30.90

Dec.

31.78

ports:

Mar.

32.07

Aug

May

32.13

Sept.

304-30% 30-309

0:10 Paris

July

32.08

Oct.

301%-30%

Stockholm

20.036-20.02 13.7714-13.77AL 144912-14.4035

Oct.

32.63

Estate cregt

Milan

Dec.

30.75

thin Aug

335

Vientia

Mar.

30.75

thick Aug:

331

Zurich

72.56-72.56 13.12-13121

May.

34.59

-UPL

-UPL

NEW ORLEANS

Settlement house term:

Oct. cents Oct./Dec.

General markets, cif. basis,

Copenhagen

Frankfurt

Isbon

FIRST HONGKONG FUND

WALL STREET CONTINUES

TO ADVANCE

New York, Aug. 10,

Stocks stretched their current string of

advances to five sessions in a row.

The main body of siccks had most of the session spent fluctuating narrowly ghooth sicky of yesterday's crise.

McDonnel Adrecat Merck.

Mesti Iron Cượp.

Minnesota Mining Mission Development Monsanto Chemical Co. Montecatini Montgomery Ward Cop-Mocols Inc.

Recent favourites suffered ins traders switched groupe. pers and olig suffered to a large extent from neglect after yes terday's strong showing.

National Biscuit Co. National Cash Reg. "A" National Detry Frod. National Lead National Steel Corp.

buy-New York Central

Beneficiaries of the late ing were stoels, electronics, leading chemicals, rails and

cameras,

STEELS UP

Boting tacked on nearly two while such poi in alrerafis defence-oriented electronics as Motorola, Texas Instruments and Beckman rose around a 2.81-2013 3,72-11/16-272-13/16 point or more. 10.601-10.60

140,7711⁄2-140.821)

1935-19.355 11.7174-18.72% B0.20-80.30

A UNIQUE OPPORTUNITY

FOR INVESTORS!

IMPORTANT

The offer opens on 8th August, 1960. and closes not later than 16th August, 1960. Applications maat be received at the offices of the Managers, Hong Kong Unit Funds Limited, P.O. Box 690 Hong Kong, or 701 Alexandra House of at The Hong Kong & Shanghai Banking Corporation. The Chartered Bank or The Mercantile Bank during that period."

No.

FIRST HONG KONG FUND

OFFER OF 1,000,000 UNITS AT $1.00 PER UNIT PAYABLE IN FULL ON APPLICATION

All shares currently included in the Trust Fund are shares

quoted on the Hong Kong Stock Exchange

-FORM OF APPLICATION———

APPLICATIONS MUST BE FOR A MINIMUM OF 500 UNITS AND THEREAFTER, IN MULTIFLES OF 100 UNITS

Ta: HONG KONG UNIT FUNDS LIMITED

We hereby apply for... .......units in the First Hong Kong Fond at the advertised price of $1.00 per unit, in accordance with the conditions contained in the offer and subject to the terms of the Trust Deed dated 12th July, 1960.

I/We encluse cheque/money order/cash for ................being payment in fall for the number of units applied for. I/We understand that the money will be returned to me/us in full if no Unite are allotted.

I/We declare that I/We am/are over 21 years of age,

ALOOK JATTANO

SURNAME(S) {{a_English]__

(Pfrase state

Mr. Mrs. or M

OTHER NAME(S) IN FULL_

ADDRESS

SIGNATURE(S)..

Telephone No.

Date

(In the case of joint applications all persons must sign. Corporations should com- plete under the hand of an authorised officer whose designation should be rated)

CH

NOTE Detailed Information Folder is available from Hong Kong Unix Funds Limited, 701, Alexandra House or P. O. Box 690 (Tel. 28106) or from leading Banks or Members of the Hong Kong Stock Exchange.

ΙΠ

and the cameras, Bell Howell spurted more than two points, as did Bausch and Lomb, American Optical and American Photocopy.

64

HONGKONG London market

advances on

STOCK EXCHANGE

Our Own Corespondent

Business done at the Hong- kong Stock Exchange this morn→ ing amounted to approximately $728,000, Noon quotations and the morning's transactions. Bhates Buyers Sellers HK Bank

1190 1905

HK TE

Bules

20 1100

20180

HK Tele... 38 583 1000

54

Dairy Farm 28.30 28.70

broad front

London, Aug. 10.

Stocks steamed ahead under steady buying pressure covering most sections of the list and stock shortage helped prices advance on a broad front.

Breweries stayed

in

the

spotlight. In motors, Leylands

four spurted nearly

Fords added a fraction.

Courtaulds

textiles group while banks and

building shares found favour.

GOOD GAINS

Leaders like British Oxygen, Glxo and Beechams showed Both British aɛid good gains,

veni Unilever and tobarcos returned

Africa has helped Hongkong

Loribord Ihe. Ueston Iris, .

3544

·

Wharf Co.

Waterboat

230 23.23

shillings,

Whrekek

1.06

7.70

1020 1.85

247% 19

2000 & 1.70

1000 @ 1.65

Newspapers

moved into

Malaya's import

9914 2314

HK Dock ..

101 100

200 108

higher ground on rumours

of

2003100

higher priors in the autumĖS

Ch

20 20.30

77

HK &

but falled to hold their

best

ban on South

Hotel

levels.

57% HK Land..

37 5746

39

200 #37 1000 / 511

B paced

firm

10%

Yaumati

30 21

4200

201

Ch. Light 11.00 12

Noranda Mines Ltd. Norfolk & Western Яy, North Amer. Aviation Northwest Alin Oklahoma Nat. Gas Olin Mathieson Os Elevators Owen-Binola Glass

39%

HK Elec.

.. 28.10.22

100 7.10 20028.20

0.1. Cement 531

500 331

(Corn.).

1772

200 281

500 281

1004

Oxford Paper Co. Pacife Gas & Elect Pan American Airways Paramount Pictures Parke Davis Co. Philip Morri

$15

457

70

Procter & Gamble Co.

Rub.

Trust

Pittsburgh Plate Glase

Talldo Dock

Publicker Industries Pure Ou

101%

Realty

HK Gu

Garan

1.90

1.95 400 7.95

Elope

Lane, Craw

41 4135

Int'l. Envest 8.95

9.05

14.00

22.10

108 123

Radio Corporationi Radio Corp. Pref. Republic Steel Beynolds Metal

Reynolds Tobacco

Royal Bank of Canada Royal Dutch

Rheem Mig.

U.S. Steel picked up a point Sears, Roebuck & Co.

Ou tate buying to feature the steels Laukens rose around 1% and Jones and Laughlin more than one.

Shell Oil Ca.

Safeway Stores Saint Reg. Paper

Scott Paper

Siegler. Corp. Sinclair Oil

Today's volume was 2,810,000 Smith, Kline & French

shares.

Of a total 1,209 shares traded 626 were higher and 333 lower.

American exchange volume was 1,000,000 shares,

Bonds volume amounted 4,560,000.

Daw-Jones closing averages 30 Industrial

20 Rails

J5 Utilities

85 Stocks

40 Bonds

Comm. Fulure Price Index ..

Closing prices

Alden Inc. Acy.

Allied Chemicals

Allied Ms Inc.

Allis Chamer:

Am. Brake Shoe

American Airline

A Cable & Radio Corg.

American Cyanamid Co.

Am. & Forge. Power

Am. Gas &. Electric"

Am. Home Prod. American Metal Am. Natural Gas

American Smelting Am. Sugar Raf. American "Tel & Tel American Tob.

Ampex... Ariconda Copper Armco Steel

Armour.... Allas Cons. Mining Baldwin-Lima-Ham. Baltimore & Ohio Bank of Montreal Beech Life Savers Beneficial oce Benguet. Cons. Bethlehem Steel Boeing Airplane Borden (The) Co. Burroughs Add Machine Calif. Packing Corp.

Cara Brewers

Campbell Soup Ce. Canadian Pacife A,

Case (J. L.) Co,

Cat. Tractor

Celanese Corp.

C. I. T. Financial Corp. Chase Manhat. Bank Chrysler Motors Cluett Peabody Enigal-Palmbive Co. Colombian Carbon Co. Commercial Credit Consolidated Edison Continental Can Continental Olt of Del, Crane 0.

Crown Zellerbach Cuban Amer. Sugar Delaware & Hudson Co. Diamond Alkali Diamond Gard

Douglas Aircraft Dow Chemical Dupont de Nemour Eastern Air Line Eastman Kodak

El Paso Natural Can Family Finance Corp. Fyrt. Nat. City Bank Ford Motor Georgia Pacific General Electric General Foods General Motors

Gen. Pub, Dedi.

Goodyear Tyre

617.52

Socony Mobil. Ou Solar Aircraft Southern Co. (The)

Southern Natural Goa Southern Railway (Com.) Standard Brands Standard Qll of Cat. Standard Olt of Ind. Standard Oil of NJ. Sleep Rock

Sterling Drug Co. Btairely-Van Crimp. Studebaker-Packard Corp Sunshine Mining

Swift & Co.

Texas Co.

Textron Inc.

135.81 Thiokol Chem.

$9.60 Tide Water 011

204.63 Time Inc.

54.65 TY-Cont. Warrants 144.05

Twentieth Century Fox Film

Carbide Union

Union Bil of Cal.

Union Pacific Railway

U.S. Fol "B"

U.S. Line Co.

U.S. Rubber

814 U.S. Smelting

2:04

United Aircraft

$ 50%

United Fruit

54%

United Gas Corp.

32

771; ¡ U.S. Gypem

30

191x

M4

US Steel

U.S. Steel 7 PC. Fr

543. Warner Bros.

17814 Westinghouse Air Brake

2623

24

6612 Western Union Tel. Co.

431

Westinghouse Electric

535 West Va. Pulp & Paper

89%

Winn-Dixle Storee Woolworth (K. W.)

Allied

B 0.70

Inw. 530 Textile. Nanyone Mil

Ex. Bonus Taste

13.00 14 10001391

A. Rubber 6.10. 4.35 1000 @ 6.40

5000 + 8.30 10000 $30 1000 8.30

8.66

B00 $45

54

130 $3

1.000 1.825 5000 1,800

14.60 14.71 1270 14

1000 14.60

H, F.E. I.

Humphreys

Ferry

Mano Tec.

X. Div... i120 11.80

1000 1,95

2000 # $4.70

500 41 1000 @ 9.

Rubber

market

review

Singapore, Aug. 10. The market ruled very quiet throughout the morning session with business re- stricted to small covering demand.

The afternoon remained quiet with the undertone steady.

Lowers were in better demand but exchanges restricted.

In New York, rex.rubber futures today closed unchanged to 25 points lower with sales of four contracts.

Futures ruled extremely quiet and featureless, but brokers re- 39ported a fair-sized business in

shipment rubber.

62 -8414

U:S. credit

relaxations

urgently required

London, Aug. 10. While European countries

Locally, current month No. 1 Rss was quoted 371⁄2 cents no- minal.

In London, the rubber mar- ket was slightly steadter with spot quoted at 30 peace.-UPI.

CHICAGO

GRAIN MARKET

Chicage, Aug, 10.. Soybean futures closed lower today on the Board of TrSET, Wheat cased in the opening recovered

minutes, but prizes refrain from converting as commission houses too many of their dollar mills bought on resting orders. gains into gold, the United Early selling caine mainly from States tan continue the longs. reflationary credit relaxa

Wheat four stales

Continental,

ahead rises,

Dollar stocks were mixed with steels dull. Foreign bonds stay- ed quiet with scattered gains in Japanese the exception.

Gilt-edged prices held steady despite absence of business in the Government securities.

South African gold lost early fractional gains. Coppers held gains. Tins stayed dull while alle were mainly higher.

Fram GORDON HUNG

Singapore, Aug. 10.

The Federation's ban on the Import of South African goods has given a tre- interdous boost to the can- ned food trade. of Far Eastern countries with Hongkong Included in a small way.

According to statisties avail-

Teas and rubber eased.-UPI.able in Singapore, local canned

Closing prices

Gledged Bends

British Transport 3. 1976/89 #59-13/78.

Console £§+7/18.

Consols

£18.

Conversion Loan 315

food dealers have swilthed their Africa to urders from South Japais and Houghtong in recent months,

4

Because of the sukiden. Increase In demand, cented food thanⱭ- 1941-facturers in Japan the second

highest sgplier to Malaya have asked importera for mbra Finding Stock 15%, 1989/2004-time for delivery,

€50-11/76.

Funding Loan

281-6/78.

Funding

28774.

Dd.

ed.

Loari

1958/00-

2960/90-

Savings 3, 1055/65-287-23/32.

Savings 3%, 1960/70-78,

Savings 3%. 1985/75-£100/10.

Banke

Singapore and the Federation buy about a million lins of can- ned fish, especially sardinies and mackerel, month from Japan. About HK$60,000 of canned fish,

Barclay's Bank "A" Lid ord-81, matly herring, is imported from

Chartered Bank-ls Od

Hongkong-

Lloyd's Bank “A”-583.

National Grindlaya Bank-344

Westminster Bank "A" Non-Camulative

Zipurskee

Hongkong: monthly.

INCREASE

With the ban on goods from 12. South Africa, which has been

Union Insurance Canton-£54. Aircraft & Motors

one of the biggest suppliers of

sales *f caribed fish, the Japanese and Hongkong canned fish are expected to incréer

British Motor Cap. Ord-172. Ford Motor Co # 7:20. Hawker Siddeley Group Ord-considerably. Rolls Royce Ltd Ord- 34. Rootes 24 "A"-10 Standard Triumph International-

ક્યું.

Brawerles

Distillers Co

South African Breweries-24s 3d. Building & Materials

Associated

Japanese

Talking about canned fish, a wholesale dealer said that the Japanese grodiets Wer cheaper than South Africa's and that Japanese EXA portery week in a position to

notice.

Portland Cement-supply fresh stocks at shorter Goodlass Wall & Lead Crá-36a The only Stutheast Aslan country which is now competing with Japan in the canned fish and meat market on a very small scale la Hongkong, the Food & Tabacco British American Tob. Co., Ltd wholesaler said, 56a 34.

Co Imperial Tobacco

Lich-Bis

3d,

Coat, Steel & Engineering Babcock & Wirex Ltd-3 d. United Steel-8is 3d.

Vickers Ltd 1160.

Miscellaneous Boardman Marden Ltd British Oxygen Ltd. Ord-266 3d. Canadian Pacific Ray-04311⁄2d. De La Rue Co. Ord-916. Dunlop Rubber Co 236. Canadian Faelie Bly--44Pjd. Hongkong China Gass. Imperial Chemical. Lyons & Co-81⁄2 101ça, Unilever Ladles ed.

Paper Howater Paper Corp assd

Or-85%

Radio & Electrical Associated Electrical &1a, Electrical & Musical-45€ od. English Electric Co-40 3d. General Electro-35 94.

Shipping

Indo-China Stern Nav. Co. del and 23

d. P&O Steam Navigation def ord -306 4:44.

9d.

were

estimated at nearly 20 milion tions which are so urgent- | hundredweight. Corn furtures

ly needed internationally also rallied. Trading in cats

and so dangerous for the dollar externally.

The next one will doubtless

Blor

It is understood that 稳 Japanese trade "investigation" team consisting of carried is experts will visit Singapore and the Federation very soon fol explore possibilities of boosting business.

Italian firm

strikes oil

in Morocco

Madrid, Aug, 10.

Great Univeral Stores "A" A report that the Italian

Marks & Spenert Lid-84% ad. Woolworth F. W. & Cobia 70.

Textles

Coats J&P L-63 lyd Courtaulds L50 3,

Cons Goddelds at South Africa-

was mixed. Rye added small fractions. Soybeans ruled quiet | 581 4240. after the opening.

Commission and local traders

be a cut in the reserve require sold early, olls and meals were ments of the New York and also down.

Chicago banks,

Coni. Zine Corp. Ord-753 $0. De Beers def

Petaling Fin—OF JOSE,

Hongkong T-10 44.

Rand-264

"Agip", Petroleum Com. pany struck oil in “com-

ercial

quantities” im French Morocco, mear the Spmaish Sahara, sent American oil company hopes soaring today. Well-informed

Sources saich

the "App" Company hit oil t Southern Kints Cans Ltd-24 33. Tarfall, Morocco, about twa Union Corp-501 64, West Driefontein Goldmining-80

Weekly export figures in This action is years overdue, soybeans were below trade ex but at this time it would be

pectations. Inspections totalled. 1,335,000 bushels Last week, against 2,493,000 a year ago... UPL.

434 another credit relaxation and would considerably enlarge the

54

14% lending power of the New York

and Chicago banks.

Gen. Tyre & Bubber

Getty Oil

Glidden Co.

Goodrich (B. F.) Co.

Grumman Airetaži.

379%

31

30

Heyden Newport Corp.

Gulf 03........

Hammond Organ

Homestice Bifying Ci

Human Refrig.

Idaho Power

Ingersoll-Rand

Inland Steel Co.

Interchemical Comp

Int'l Business Manhinas

Int Harvester

Intention. Michael

International_Paper

Unlese United States business sentiment improves the extra lending power may be academic. 36% In a recession extra lending 23% xd power goes begging.

MARGIN CUT

The cut in Wall Street's mar-

So gin requirements has done more

NY SUGAR MARKET

New York. Aug. 10.

5325 to advertise the Federal Re-day closed unchanged to four

serve's concern about recession-points tower with sales of 265

World No. 4 sugar futures to-

07

ary tendencies them to cure them contracts.

Anti Tel & Tel

John-Manville Do, tan

Kansas C. Power & Light,

B

margin requirements

up

Kermecott Copper

| Kimberly Conc

Wall Street's trend. (cuts when.

Liggett & Momen Tol, Co,

Lily Tub

Lättom. Krak.

Lockbeeld Afteraét

Loews Incorp.

Lone Star Cement Co. Lowenstein & Bone. McDermott J. Esty

Agreed merchant

rates

In recent years all changes of Domestic No.

6 sugar closed

or unchanged to 12 phifts higher

1 down have been made against | with sales of 182 extitracts.

Swiss France: Maximum Sell-} ing 75

Belgian Franc

Selling 871.

Maximum

But

W. German Deutschémark Maximum Salling 72-11/10.

World futures

trading was

Wall Street was falling and rises when it was booming) and all mostly, professional while opera-

weeks pet.

Gedigte reports and th

Incommercial British Borneo Fetroleum Synal-strike was calte-43 1140

quamalties," Brith Burmah Petroleum-la Dd. Tartalla is $70 miles Inland British Petroleum Co. L16-514. fromms the Atâmbitie and 18 miles Burman42 3

Royal Dutch Pirbletto-213-7/16 north of the Spanish Sahara, Shelt Transport & Trading is where 13 American companies Ed..

are prospect

America olmen here sild ke

the

reported Italian

U.S. steelkes us at very optimiste

delivery improves

New York, Aug. 10, Deliveries of steet, milky pro-

of them have caused only very bore awaited further market | ducts in Jana heldags izbuch - temporary reversals of the developments. Offerings of raws better than United States in- trend.

were reported at the unchanged | got production, the American prices of 3.5 cents a pound, Iron and Sleet Institute re- FAS, but buyers were indiffer posted. ent-UFL

One must hope that this one will be lucifer.

Exchange rates

was done in the lock

Housing is the best hope but It has not yet responded to easter mormy, Even if it does it would be of only limited com- fort slace houring often moves. contrary to the trade cycle.

It has become a stabilising factor rather like unemployment | 18 delver-tone: 813 pay or budget deficit: These things alleviate the recentions but they also demonstrate the recessions.----Chim: Maij-Speciai,

· imortigia

Sterling notes : (per Australia, ziołana (per

our chaces."-UPI.

BIG SALE OF US. COTTON

New Diletas, AGE, 10,

fairy intounodd (the male at 291234 balts'b0; 15:55. Gevorde

It noted that deliveries. The cotton was frier): 1950, or totalling 5,020,380. sona - ware ¦ eat her arop: cations and was sold shey 5.6 per cind less than in on mal inrestricted bass, which May akoruma: neel & production meant it could be exported, or www reduped. by 16 për prit.. us domestically,

In

the first", Erk However; total deiltasien

1960 | opklind bere lur: Moliday vide

il

khm shane '1959

Crisis was the Becond sale 62- cotted under the 1980-8) dis

posal prostatins de the depe ment on August 1 sold: 166,42