COMMODITY PRICES
Oct/Dec.
SUGAR
| Jan/Mar.
Aug
NEW YORK
Closing prices all in cents per
Ib.:
Contract No. 4 (world) Sept: 17 Oct: 3.25: Jan: 3.31; Mar: 1.19-20: May: 3.20; July: 1.22;
Spot (F.A.S. Cuba); 13.
Tolat Sales: 241 contracts. Open Interest: 4,008 contracts.
Contract No. 6 (domestic)
Sept: 413; Nov: 5.93; Jun,
Apr/May
General markets, c.lf. hair ports:
2916-29
2946-29
25.75-29
2011-2016
291-291
2911-2912
Sept. Oct, Estate erept thin. Aug... 3124 thick Aug. & 3194
AMSTERDAM
Closing prices all in gulldersb
Mixed Contract
Chok/Nov.
Dec/Jan
DESK/Apri
May/June
THE CHINA MAIL, TUESDAY; " AUGUST 16; 1960. ·
METALS
NEW YORK
Closing prices, all in cents per
Lead Sept.
per kilogram, cl.f. Aug.
Nov.
No. I rubber
2.80 Buyers! Zinc
Sept.
No. 2 rubber
2.85 buyers
Nov.
No, 3 rubber
183 buyer
Copper Sept.
No. 1 erepe
3.17 buyeri
Nov.
UPL
LONDON
0:
Mar: 388; Spot—(C.1.1, NY, 'rga duty): 8.90.
Total Soles: none.
Open interest: 1,654 contracts.--
UPI.
LI
RUBBER
NEW YORK
Rex rubber futures closing
prices, all in cents per ib.:
Sept.
Nov.
Jan.
Mar
May
Jul
11.36
30.02-06 29,87
Closing prices, all in sterling
per long ton
Buyers Bellers
706
797 798
FOREIGN EXCHANGE
COTTON
Tia
Spot
3-month
Copper
Spot
NEW YORK Closing prices all in
3-month
Lead 1st half Aug.
cents
Nov.
per b.
Eine 1st half Aug.
Spot
33.50non
Nov.
O
30.90
Dec.
$1.14
Mar
31.67
Mer
32.06
32.15
15.20
32.34
34.56
Dec
32.56
34.25
Mur
32.81
34.00
33.75
Sept.
33.50
NEW ORLEANS
SINGAPORE
Closing prices
all in
cents
Straits
per [b.
cents per Ib. 1.ob.
Malay an
Spot
20.00
Closing rates;
Oct
30.03
Switzerland
Dec
31.11
1007-10135
Mar
31.M
Others unchanged.
LONDON
101-101%
My
32.04
100-1005
July
72.49
9035-002
Gel
97-004:
Die
24.75
Spot rubber unhaled
100%-100%
Mar
32.83
93-94%
May
다
Brussels
Copenhagen
100-112!
LIVERPOOL
Frankfurt
Closing prices
all in
pence per 1.
29-297
American Contract Oct/Nov.
22.13
| Stockholm
San
Settlement house term:
Dec./Ja
22.15
Aug.
2911-297
Mar/April
Sept.
Closing prices all in
ports:
No 1 Aug
Sept.
No. Auf
No. 3 Aug.
No. 4 Aug
·Blanket crepe
No. 1 pale crepe
LONDON
Closing prices all in
per lb:
No. 1 Ras spot...
291-291%
May/Jur
NEW YORK
Closing rates:
New York 32.63
Montreal
Amsterdam
ponce Lisbon
Oslo
Ports
Vienna
Zurich
FIRST HONGKONG FUND
YOUR
LAST OPPORTUNITY
FOR BLOCK OFFER!
LISTS CLOSING TO-DAY
IMPORTANT.
2.811-2014
.2317
2.71-11/10-2.71-13/16
10.8042-10.6015 140.72-140.77
19.367-19.37%
11.7-1.724
80.26-8030 20.0314-30.09% 13.7246-11.7797 14.4934-14.50 1276476-374842
72.55-2258 12.13-15.14%
The offer opens on 8th August, 1960. and closes cot later than 16th August, 1960, Applications must be received at the offices of the Managers, Hong Kong Unit Funds Limited, P.O. Box 690 Hong Kong, or 701 Alexandra House or at The Hong Kong & Shanghai Banking Corporation, The Chartered Bank of 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 MULTIPLES OF 300 UNITS
To: HONG KONG UNIT FUNDS LIMITED
We hereby apply for...nite in the First Hong Kong Fund at the advertised price of $1.00 per unit, in accordance with the conditions contained in the offer and subject to the femme of the Trust Deed dated 12th July, 1960.
D/We enclose cheque/money order/enah for ¶.....................being payment in full for the rumber of units applied for. We understand that the money will be returned to me/us in full if no Units are allotted,
I/We declare that I/We amfare over 21 years of age,
SURNAME(S). (In English)
(Piran sint
Mr. Mrs, ar Mir
OTHER NAME(S) IN FULL,
ADDRESS
SIGNATURE(S).
Telephone No.
Date
(In the case of joint applications all persons mulign. Corporations should com plete under the hand of an authorbed officer whose designation should be stated)
CH,
NOTE Detailed Information Folder is emilable from Hong Kong Unit Funds Limited. 701. Alexandra House or P. O. Box 690 (Tel: 28105) or from leading Banks or Members of the Hong Kong Stock Exchange,
-UPI.
London stocks on London
continue
Corrective trend
New York market
New York, Aug. 15.
The stock market suffered its first setback in eight sessions to-
day in some of the slowest trading of the year.
NEW YORK
COTTON
MARKET
New York, Aug. 15. Cotton futures today became more of a two-sided affair, with nearby deliveries giving ground while new crop edged on to higher ground.
At the close the list ruled off 0 to up 14 points. The market opened off one to 10 points. New Olcans closed off 10 to up 12; points.
Relative casiness in nearbys was associated with October, con tract liquidation, plus the slow mil demand for spot cotton, which in turn painted up reports of increased curtailment sinong some textile mills.
Liverpool futures today closed unchanged to off 10 English points and 434 to 505 American polnis under New York futures.
Raw colton exports for the seasen to date total 176,174 baler agains! 23,629 bales shipped the same time last year, according to the New York cotton CX- change-UPI.
CANADIAN
TRADE SLIGHTLY
DOWN
Ottawa, Aug. 15. Canadian exports and im-
ports
fell during the second quarter of the
Merck.
Mesabi Iron Corp.
It was a loss from the stand McDonnell Aircraft paint of averages, which put the market only slightly below the previous close, although a tally of all socks traded showed there wete more advances than declincs.
Minnesota Mining Mission Development Molson Brewery Monsanto Chemical CV. Montecatini Mag Montgomery Ward Motorola Ene.
Industrials dropped 2.01 to 624.17, while rails and utilities managed to close with small gains on buying flurry just before the close.
Brokers said that market sent- ment apparently was dampened by the report of an authoritative slecl publication that while com- panies have completed their in- ventory adjustments there was no evidence of thy noticeable upturn in demand.
Too rapid
Other analysts reasoned that the market's recent price maily be too rapid not to have suited in some imbalances so now was in that a correction order.
were
Nations Biscuit Co
Cash Reg. “A”
National y
National Bel Corp
New York Central Noranda Mines Ltd. Norfolk & Western Ry. North Amer. Aviation
Airlines (Com.) Northwest Oklahoma Nat. Gas Otis Elevators On Mathieson Owen-lois Glass Oxford Paper Co.
Pan American Airways Paramount Pictures Parke Davis Co. Penn. Bilt,' Co. Philip Morris Pitney Bowes Procter & Gamble Co, Publicker Industries Pittsburgh Plate Glas Pure Oll
Pacific Gas & Elec.
Radio Corporation Radio Corp. Pref. Raytheart
Republic Steel
Reynolds Metal
the
Reynolds Tobacco Royal Bank of Canada
Rheem Mig.
French Royal Dutch
among .Drues heavier losers with Vicks off 4% and Smith, Kilne, down 14. The weakness from stemmed apparently price cuts of some 16 per cent major antibiotic MIRJAL- by facturers.
Sears, Roebuck & Co. Shell Oil Co. Safeway Stores Saint Reg. Paper Schenley Inc.
Scott Paper Biegler Corp.
Sincial Oil
shares
Smith, Kline & French
Lockiced topped the market in activity with 30.900
at 24% up Socony Mobil Oil...... and closet
where Automatic South Puerto Rico Sagar Following
Southern Co. (The) Universal
Southern Natural Ga Canteen.
Southern Railway (Com.) General Motors
Sperry Rand Standard.
Today's volume was 2,450,000 shares.
Match, and Jersey
Standard Brands
Standard Oil of Cal. Standard Q of Ind. Standard Oil of N.J. Sterling Drug Co. Stockey-Ven Camp. Stone & Websler Studebaker-Packard Corp.
their advance
London, Aug, 15, Industrial stocks resumed their advance today under vigorous demand. After a bout of profit-taking at midday the market went ahead again to close firm.
Gaine apreach through the list which showed only a few wek spols. Electricals and home appliance shares were strong with stee's and engineeringy
Bunks, inaqunce and property stock found" "Tayotir, while papers, tobaccos and breweries all moved up.
Motors were mainly better, glitt-edged put on going up to 12th of a poung Dollar stocks
Gods were generally frp. showed harder trend but 6511 soppers cased. Eastern buying 2011 gave strength to tins.
102
B
Oils were hilly depressed In teas Ceylons improved and Fimbers were damer-UPI,
Closing prices.
Glitedged Bonda
Transport' "3 1978/88-
Console £68$2
Conversion Loan $3. 1081-
HONGKONG STOCK EXCHANGE
Our Own Correspond st
Business done at the Hong- kong Stock Exchange this morn
gamounted to approximately $747,000. Noon quotations and the morning's transactions: Shares Buyers Sellers
1190 1765 HK Bank
Bk. E. Asta
Union Ink.
Whert Co
1968/69- Waterboat.
Sale!
10 1195
80 91
Wheelck 7,80 7.65 3300 ( 745
Funding Stock 3557, 1999, 200HK DOCK
Chartered Bank-308 3d. Hongkong-63
4010
C. Provident 1930
HK Hotel
HK Lond
501 57
Baving 5%, 1928/76-£71.. Barclay's Bank "A" Lid.ord-635
Lloyd's Bank "A"-68s 14.
National & Grindlays Bank-
Westminster Bank "A" 123% Non-Cumulative-120"|3d."
Insurance
Union Imurance Canton--876
Aircraft and Motors
Youmati Tram
180 314%
Ch: Light.. #1.70 813 Electric 27.90
Telephone. 381 38%
G1 Cement 53% M
Dairy Farm 289.90 28.00 Watson
100 g 25.80 Ailled Inv. 5.90 6.83
8.40 8.65 900 $45
British Motor Corp, Ord-18a 1. Textile
Ford Motor Co--150s 4364.
Hawker Siddeley Group Ord-sight 3.65
3815
123
6115
10%
3142
Brillian
£0014
3936
Console 212143%.
48%
621
£50-15/18.
20 | ZARIK.
6734 Funding Logr
1912
507 | 204-3/16.“
Funding
Loan
1960/90
2732875
Savings 3. 1695/81–£877.
Sayings 3. 1900/70-238.
90%
MARKE
374
61
17%
38
3d.
4616
44%
40
413%
58%
Textile
1411
$15 |
Od.
9
Rolls Royce Lid Ord-42 94.
Rootes Lid "A"-10s Rd.
Nanyang Ex.
Standard Triumph International-
Boru Issue 13.80
14
7834
9 34.
A. Rubber 6.20
19%
Breweries
36%
Distillers Co=5# 3:
192
South African Breweries-255.
R. Trust
8.13
Buliding & Materials
Associated
291% 1350.
Realty
Goodlass Wall & Lend
Ord-384
61251775
415d.
4100 100
Corl, Steel and Engineering Babcock & Wilcox Lid=345.
A
HK
United Steel-- 10d.
GA... In Iny...
14.00 14.70-
70 14.00
350 a 14.60
8.05 9.10
440 12.00
20-96
2009 @ 2.00
1000 2.00
5000 @ 9.05
20
3000 9.05
5212
1000 90
32%
U.S. Smelting
20
5212
U.S. Steel
42
3
U.S. Steel 7 P.C. FT
146
Warner Bros.
401%
40
Wandsche Motera
3014
American Airline
2014 Westinghouse Air Brake
271P
|8h|| Westinghovie Electrie
3432
American Cyanamid Co.
564%
7
Western Union Tel Co. West Va. Pulp & Paper
391%
$631
Winn-Dixie tones
181
Woolworth (K. W.)
67
Zenth Radio
114
241
UFT
Of a total 1,212 shares traded, 532 were higher and 467 lower.
American exchange was 1,170,000 shares.
volume
Bonds volume amounted to Sunshine Mining
30 industrial
Теха Со
Thokol Chem.
$4,740,000,
Swist & Co.
Dow-Jones closing
avaroge
Textron Inc.
were:
Tide Water Ou
624.17 | Time Ine.
20 rails
135.
Traders Finance
15 utiles
38
65 stocks
Comm. future price index
40 bonds
Closing prices
Alden Inc. Acy...
Abitibi Pwr. & Paper
Algoma Steel Corp. Allied Chemicals
Amed Mills Inc.
year following increases Allis Chalmers
during the first quarter,
Am. Brake Shoe
the Bureau of Statistics Am. Cable & Radio Corp. reported today.
Total exports during the period were valued at $1,310,- 700,000 down 2.9 per cent from the second quarter of 1950. Imports were valued at $1,485,- 300,000, down 3.3 per cent.
The Bureau Said exports were higher to all major trading orcas during the first quarter, with the United States account. ing for half the total gain.
Imports from the 13nited States and Britain were up in the
Arst quarter out down in
the second.-UPI.
Chicago
grain market
Chicago, Aug. 15. Wheat and corn closed steady and other grains lower today in light deal. ings on the Board of Trade.
Wheat futures Anished near the previous level after casing from early firm tones. Commis slon houses and exporters were buyers.
Amer. & Forgn Power Am. Gas & Electric Am. Home Prod. Am Mach & F'dry. American Kelal Am. Natural Gas American Smelting Am. Sugar Rel. American Tel & Tel American Tab. Ampex Anaconda Copper Armco Steel
Armour Asbestos Corp. Atlas Cons. Mining Baldwin-Lima-Ham. Baltimore & Ohio Bank of Montreal Bank of Nova Scotia Beech Life Savers B. C. Tel, Co. Bell Telephone Beneficial Finance Bendix Aviation Corp. Benguet Cons.
Bethlehem Steel Boeing Airplane Borden (The) Co.
Burroughs Add Machine British Amer. Olt Calf Packing Corp. Cana. Bk. of Comos. Campbell Soup Co. Canadian Pacific R. Case (J. L Co. Cat Tractor
Ceinnze Corp.
C. I. T. Financial Corp. Chrysler Motors Chest Peabody Colgate-Palmolive Colombird Carbon Co. Commercial Cre Consolidated Edison Continental Can Continental O of Del.
Crane Co Crown Zellerbach Cuban Amer. Bugar Delaware & Hadon Co. Diamond Alkali Deord Gard Dominion Stores
Douglas Aircraft Dow Chenload Dupont de Neroors Eastern Air Line Eastman Kodak
With heavy flour sales com- Pro Natural Gas
Family Finance Corp. picter last Friday, traders Fat, City Bank balleved most of the domestic demand would be satisfied for some time,
Exporters sald Israel bought about 750,000 bushels of hard wheat and that Portugal took red wheat,
Corn was mostly steady. Oute weakened under hedge selling and liquidation.
Soybeans rallied briefly, flom early lows on scattered buying, but prices weakened near clone.
the
Ford Motor Georgia Pacific General Dynamics General Electric
General Foods General Motors Gen. Pub, UBL Gen. Tyre & Rubber Getty Oil Goodrich (B, 7.) 0. Goodyear Tyre kan
Grymn Aireret Gulf Oil Hammond Organ
Heyden Newport Corp.
Hiram Welker Homerlake Mining Co. Humerias Fetrig, Idaho Power Imperial Ou Exporters said Britain And Imperi Tobacco the Continent tool parcels of Ingersoll Rand corn while Britain also bought interchement Comp about 5,000 tons of soybeant Ind' usines Bachirgen UFI.
Agreed merchant rates
Swiss Francs Belling 75%.
Franes Belgian Seking '071,
Inlena Steel Co.
Losʻl Harvester an International Nickel International Peper Int'l Tel & Tel Johns-Marville Cp. Kaiser Intries KC Power és Light Kenneth Copper Kimberly Clark
Liggett & Myers Tob, Co. Lly Tulo
Lition Ind
num Locidused" "Aireraft
Lowww; Incorpo Lone Star Cement Co. Maucimum Lowen Tie Bons
T-Cont Wanrects
207.03 Twentieth Century Fox Film
84.73 Union Carbide
143.25
Inior D1 of Cal.
Union Pecite Railway
United Aircraft
United Gas Corp.
U.S. Fou "B"
U.S. Cypa
$34 US. The co.
BU.S. Rubber
19511
Decline in foreign
car imports
to U.S.
Detroit, Aug. 15. Sales of Imported cars dur. ing the first half of 1960 ran 21,000 units behind last year's record pace, it was reported today.
Official registration figures showed 270,713 foreign passen- ger cars were sold in the United States in the January-June period compared with 291,772 In the first six months of 1959.
The six months drop, first since iniporta started to boorg six years ago, came during a period when sales of domestic cars rose by 344,418 units.
VOLKSWAGENS LEAD
Among the top 10 sellers dur- ing first six months only Volks- wagen, Renault, Austin-Healey and Peugeot showed increases from last year. Volkswagen, holding almost a 2-to-1 lead over second place Renault, boosted Its total by 22,000ults. Renault'a increase was less than 200 units. Seventy-seven foreign makes
160 @ 3.51
Portland Cement-73a Taikop Pack 5314
125 @ 30
2000 61⁄4 500064
5000 & 8%
0.20 1000 8.15
1000+ 6.15
500 63
1.775 1.80 10000 ₫ 1.60
Vickers Lid- 30.
Food & Tacco
British American Tob. Co., Ltd- 570 9d.
Imperial Tobacco Co., Ltd-
Miscellaneous
30.
Boardman Marden Lid-459 111⁄2d. British Oxygen Ltd. Ord-273 60, Canadian Pacific Rly-44473. De La Rue Cd. Ord-92. Bd. Dunlop Hubber Co-2 7168. Gilman Holding Lid 2 50. Hongkong & China Gas-195. Imperial Chemical--645 10. Lyons & Co--844-1954, Unilever id-1675 36.
Paper
Bowater Paper Corp Ord--649.. Radio and Electrica)
Associated Electrical-516 64.
English. Electric Co-415.
General Electric-40
Shipping
Indu-China Steam Nav. Co. det
ord--238 94,
P&O Steam Navigation def ord- 40% Od.
Bd.
#cores
Great Universal Storos "A"-485
Marks & Spencer Lid-849 Bd. Woolworth F. W. & Co-B 3d, Textiles
Conte J&P Ltd 338 4. Courtaulds Lid=57% FUL
Con- Goldfields of South Africa- Bis 1 d.
10
Cons. Zinc Corn Ord-773 9.
De Beers diet-14
OL
Hongkong Tin-11# 1]{d.
Petaling Tin 91.
Randa öd.
Southern Kinta Cone Ltd-25€
Union Corp-la 40
+
Macao Elec.
XD
HK & JE.
A 11.40
Jav. (01) Gilmen Star Forty
Ropes Land. Cras
54
14.90 1.50 1.09
500 11
U.S. bonds
drift lower
New York, Aug. 15. Long-dated United States Government obligations tended to drift lower in limited dealings" during the week-ended August 13.
West Driefontein Goldmining-Bistributed
Ou
British Borneo Petroleum cate--434 9.
Byndi
British Burmah Petroleum-1s Bd, British Petroleum Co., Ltd--49. Burmah 40% 30.
Royal Dutch Petroleum-213 Shell Transport & Trading-1258.
Reuter.
MONEY MARKET TIGHT
London, Aug. 15,
The market's collon was al- in part to the 'bellez that the Treasury would soon bring out a new bond of long matrily in an advance refund- ing operation
News thut four Federal Reserve Bank had lowered their discount rates from 3 to alter the three percent came close on Thisday and was ex- pected" to have a stabilising effect on the market,
The discount rate cut was also expected to attract incTERS- ed demand for high quality cor- porates which were quiet before the announcement. Convertibles were mostly higher.
Foreign isses were high-
It was another of light lighted by "drop of over le monetary conditions in the points in Republic of Cuba 4% money market with the rate percents to $30% for a new low. for day-to-day loan main Belgian Congo 54 percents vare taining firm level of 54 per another weak spot
Among Japanese Government cent," "There" were no parti. bonds the 5 percent of 1074 cglar factors except some added nearly two points. Chile. periods when x lack of funds three perdents were firm moving
action by the Au
up some two points--China Meil Special. However, no undue pressure
sid at least "oné "car" in the was put upon the market and in United States during the period, the closing stages of the week Volkswagen's total of 76,991 put there was some improvement in It enamor combined the supply situation.
domestic-forgiga cades, just efter Mercury and just ahead of Cad, Renaud, Opel and English Ford gutsold Desoto, 431 Labeon and Imperial
Blil business was fair with October and "hots" sold at 5% per bent and 8-15/32 per cent, with the money market making no change in their effective' bid price at the weekly tender, First half is standings of there was virtually little change the top 10 Imports are as in the Treamity bill rate. China follows (last year's ranking in Mall Special, mot parenthesis):
1. Volkswagen (1); 2. Renault (21: 8, "Opel (4): 1. Eritish Ford (2): 6. Fat (6) 6. Trumpa (8); 7. Austin-Healey (121+" Sims (5); 9. MG" (15) 10 m Peugeot (18),
Exchange rates
morning at the follow
NY sugar market
New York, Aug. 15. World No, & sužer futures "jo- day dosed one point lower to three points higher with sales of. 241 confracti
Deneric" No. 6: mugar closed one higher to one point lower. with no sales reported today,
the sally finess,
Business was done in the logs market dropped back irregular- marice artble ly under scattered Redging and sarbelising. Initial” büying - Was. 158 associated with last weeks siles of! Brazilian" rws in the world. eparket at 'firm prines, “tradize saddUBI.
Hillman dropped from seventh | Aw to 18dr and Vaixell dropped odd foch' ninth to 191-55
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