1960-10-21 — Page 2

THE CHINA MAIL, FRIDAY, OCTOBER 21, 1960,

WEEKLY REPORT ON THE HONGKONG

STOCK EXCHANGE

VOLUME MAINTAINED

Prices stay firm

despite small

drop at

close

The market showed gains for most of

the weck, but closed yesterday with small losses in most stocks.

Lands, Hotels and Buildings: Hotels went down by $1 at 43% Lands remained steady at $62: teattles were also steady t

Closing prices, however, com- on average pared favourably with the previous week.

Dally volume of business was

a high level.$1.50, maintained at Last Friday, the approximate turnover was $5,700,000. the best in many weeks.

Baaks and Unions were the notable features of businicas.

Banks closed at $1290, a gain of $00 on the previous week.

Unions closed at $125, an in- on the previous crease of $21 week. Unions shot up follow- ing the news of the proposed take-over bid by the Guardian Assurance Company of London. A large number of Realties changed hunds us a result of the company's intention to rek government franchise for bridge linking Kowloon.

Hongkong and

In

Buyers showed interest Taikoo Docks during the week, resulting in the sale of a large mimber of shares

After having been neglected for the past several months, Lights and Electries attracted buyer interest this week. four days, a total of 24,409 Light shores at $23.50 to $24.30 and 27,167 Electric shares at $28.50 to $28.00 were transacted,

Interest was also shown Jintels..

In

Comparative closing, figures show the following

Industrials: Cements dropped $1 at $57.

Stores: Dairy Farts rained 75 cents at $31%; Waisons In- crossed by 70 cents at $27.80; Lane Crawfords went up by 78- cents at $414.

Cottons: Textiles gained 15 cents at $8.85; Nanyangs went up 20 cents at $14.70.

Investments: International In- gained 15 cents at vestments $8.00 Allled had sellers at $0.21, an increase of 20 cents.

Market diary

Lurnover

note

Friday: The market closed the week on a cheerful with rates in any sections re- cording small gains. The turn- large. was extremely over

feature Banks were a notable

Pro- with sales up to $1,270, Invidents. Hotels. Lands. Hum- phreys, Dairies, Watsons. Allied Easterns and Investors, Far International Investments show-

Amon ed slight improvement. Utilities, Star Ferries, Yaumatis.

'Telephones were i and

better, Cotton and Rubber issues made further houdway. The ap- VIS Uitles: Trams.down by 50 proximate cents at $31%; Star Ferries up $5,700,000. by $4 at $177; Yaumalis slayed

Tuesday: The market opened steady at $102: Lights up by to

Hank hullday and fully cents at $23.60; Electrics re-today after the maited steady at $28.00: Tele- with much activity

previous Arm phones down by 25 cents at $36. maintained its

Hongkong Banks in undertone. There was continued Banks:

support for most issues, princip- creased by $80 at $1290.

Utilities, Dairy Forms, Insurances. Unions jumped ally

Hongkong Docks and by $21 at $125: Lombards lost Cements.

Hotels, Lands and Realties end 50 cents $36

Wheelocks lost 10 further gains were established. Shipping

A sustained demand for Banks cents at $7.00.

the ! raised

price to $1,305. shares ained Docks Wharves and God wns. Union Insurance

momentuna $0 a1 $242; considerable Wharves gained

moved up $2 at. $108; publication of the news of the Doucks Taikou Docks lost 50 cents at proposed take-over bid by the $83%; Providenis lust.20 cents Guardian Assurance Company of London un favourable terms and at $21.80.

business was transacted up to $127, The approximate turn- DVCT was $5,200,000.

Chicago grain

Chicago, Oct. 20.

Grain futures

stage!

#

on

Wednesday: The market enn- tinued octive in brisk trading Scasion during the half day with prices easier in Wheelocks. Hotels, Land. Lights. Youmatis, Telephones and Cements bers were well supported.

approximale

$4,300,000.

turnover

IIK Bank Lombard

Union Wheelock

HK Whart

HIM. Lands

NAJUUGUS

The share market

glance ★

Dividend Bonus $48

at

Sep1. 22

Sept. 20

Ocl. G

Oct, 13

1190

1189

1100

1230

Oct. 20 1200

Ub or Down

Vicid(%)

++-80

30146

301⁄4b

8616

37

3040

.libe

f4b

03b

96b

104

125

+81

$2

$3.40

3.7 5.4

2.7

7.75

7.80

8

7.00

----100

256

280n

2408

230

230b

242.

+B

UK Docks

103

104

196

100

108

+2

$10

Talkoo Docks

60

62

43%

64.

03%

500

$2.80

Provident

20.80

31

$1.00

22

21.80

-200

$1.20

5.0

UK Hotels

438

4014

41b

434

4214

--1

$2.75

0.4

58xd

GOLS

0014

12

02

steady

$2.40

3.9

1.778

1.80

1.075

1.00

1.90

steady

13.750

114D

3131

324

3314

3194

-580

$2.05

4.0

163b

1068

1066

173

177

$9.50

179

180 ex ali

96

102

102

steady

$8.50

22.80

28

23.10

2334

23.60

+100

$1.28

5.4

27.90

28.10

28.20

25.60

28.00

steady

$1.70

3414 xris 34% xrts

3334

361

36

-930

$1.75

55.

5514

50

57

56

-1

29.40

2936

30

2014

3112

+750

$1.90

27.70%

27

2714

27.10

27.80

+700

$1.50

30146

40

40

41

413%

+750

$2.75

8.40n

8440

8.36h

6.45

8.00

+150

780

..

5,10b

5.80%

5446

0.203

+200

$1

HK & FE Inv

13.00b

14-

13.80

24.10

14.10

steady

'000

0,3

Textile Corp Nanyang

8.25 13.60

8.30

8.85

+150*

800

14

14

14.70

+200

HK Really

1K Trams

Star Ferry

Y'aumatis

Ch Light

Electrics

IK Telephone

G. I. Cement

Dairy Farm

A. 8. Watson

Lane, Crawford Int'l Investment Allied

GOLD RUSH Malayan

IN LONDON

MARKET

London, Oct. 20. Gold shares shined with the big tite in the price of the yellow metal today on the London stock exchange.

8.70 1414

boycott Cost S. Africa

in trade

loss in

By Gordon Hung

Kuala Lumpur (By Airmail).

The Federation Government's boycott of South Africa has resulted in the Union losing about M$3 million in her trade with Malaya in the past two months.

But

quantiftes

03

the

The new imports of krapes are expected to from Cyprus.

$1.10

4.8

197386973338- 3:3.

7.0

New York stocks decline; gold issues gain

New York, Oct. 20..

Gold fever was epidemic in the stock market to- day, for gold issues and sundry mining shares went up the price scale, but speculation was reduced in the late deilings under the im- petus of profit-taking.

The rest of the market paled Procter & Gamble Co. by comparison, Steels, Chemi. Pullman

Publicker Industries

Utilities, Pure Oil

cals, Motors, Rails, Electronics and Utilities nished in lower tettllory.

all

Radio Corporation Radio Corp. Pref. Buythec

the late Republic Steel

A prime factor in gold selling was an official gov

erniment

pronouncement

that

Reynolds Tobacco

Royal Bank of Canadia Royal Dutch

the price of gold would be main-safeway glores taled at US$35 in ounce,

Speculators

gambling on

Saint Reg. Paper

Schenley Inc,

nScott Paper

rate Slegier Corp.

Sinclair Cl

change in the kold-dollar had produced an unprecedented Smit, King & French "gold rush" on the bullion mar- Socory Mobli of

ket in London, sending the gold South Fuerto Ilen Sugs

Southern Natural Gas price there to around $41 on Southern Pacific Co.

Gunce,

Among

Standard Brands

goid glanders Oil of Cai.

better thu galners were Homeatake, Camp- bell Red Lake, Hudson Bay

up around at point

Standard Olt of Ind. standard of of NJ, Steel Co. of Canada

Studebaker-Packard Cory, or more.Sunshine Mining

prices Miring and US. smelting, all home of Weldin

Gold prices

Cup

shoot up

in London

Mcintyre Porcupine and Done Switt & Co, tacked on large fractions.

In tho

Texas Co. Textron Inc.

fost Thiokol Chem.

motors, Ford nearly 2 and General Motors #

ricarly

Tide Water Oil

Til-Cont, Warretarios

halt. Lukens featured the Twentieth Century Fort Film stocia wHh a low-of-around-!- Union Carbide

T US. Steel which slipped

hult. Unlony Car

more than bide fell around 2 Chemicals anet Texico

ther polut in the oils.

Union Pacific Raikuny

United Frat

United Aircraft

in

the

US. Gypenam

ΠΟΤΕ

U.8. Rubber

Today's volume was 2,190,000 shares of a total 1,180 shares traded, 288 were higher and 673 lower,

London, Oct. 20, Heavy demand pushed the price of bullion up to O new peak of 269 shillings (US$37) an ounce as the London gold market

American Exchange volume opened today.

was £250,000 shares. Dealers sald 1 was the most had seen

Bonds volume amounted to

Dow-Jones was $4,200,000. after its averagest

post-war 30 industrial

20 rails

hectic trading they since the gold market"

in 1954 reopened

wartime and canned Jong

come suspension.

U.S. Smetting

US: Sheet.

US. Steel 7 PC, "FR" Warner Bros. Waukesha Motors

Westinghouse Az Beuke

Westinghome idectric West Va. Prop & Paper Wim-Dixle Stores Wentworth (KW. Zenith Radio

closing

582.69

125.42

15 utiles

94.40

os

stocks

194.07

HONGKONG

84.36

future price Index

146.17-UPI.

Closing prices

311

38

Bay

244

30%

Our Own Correspondien

41

185;

་

Leading industrial issues s well as some gold shares made

there are stil Jurke zains of two to four shillings.

"Fantastic" and "phenomenat“ of South Alriesn There was a shortage in stocks as demand increased because of goods-hundreds of thousands of rases of canned fish, which will

However, importers, leipots were the words of some dealers.

surge began yesterday | 40 bonds heelle situation.

Comm. no difficulty in getting brandy The The surge of gold began last about six months and more

trading was than 10,000 cases of peanut but from France, peanut butter from when trading was so wild that it was hard for experts to yesterday when

quote an accurate closing price. wild. The stock market followed ter which will last about two Australia, and canned fish and

calcium curbide from Japan. the gold trend and I continued months available

Basing on the average month- Most said the final range was The big demand came from And, although negotiations are is exports from South Africa US$3.55 to U.S.$35.85, so with a heavy trading-UPI, market.

tuking

alternative ploce for

from the banned during the past years, importers the continent, specially sources to replace

unde a Switzerland, but dealers said the South Africans goods, no orders estimate the loss in

M$3 millon during August, continuing outflow of gold from have been placed yet.

port of

real this the United States is the Importers said they were find-September and

reason for the hectic market. difficult nenih, it particularly ing

The breakdown for this loos "Speculators in gold are be- arranging for new supplies of

is M$1 million in canned Ash; coming convinced that next US abalone.

carbide, administration will have to raise M $600,000 in calcium MS500,000 in peanut butter and the official US gold buying

brandy price," dealers said. thejuns, and MS300,000

"They think the US economy firm

Closing prices

British Government Securities 3. Carolidated-45-7/10. 3. Convesalur£60-1/10. 3 Savings 1995/96-£ UR-3/10. 3 Savings 1905/75-271-9/10. Rarelys Org-678.

Chartered Bankblad.

Hongkong Bank-£6. Lloyds Bank-7ia ft.

Union Insurance is ?id. Burmah Oll-

..

Hayat Dutch 12!1. Babcock & Wilcox Ord-33s d. United Steel~81 6d. Vickers Ord-30%.

ANOC. Elec. Industries-433 64, Asoe. Periand Cement-123 Burman, Morden Ord--41 Britian Motor Ord-15 7140.. Coats (J, & P.) Ord-57 101. Cortalida Ord-50s 432, De La Rue Ord-678 Gd, Dunlop Rubber Ord-248. Elec, Mus, Industries-43 K, Ford Motor Ond-Bis 796. General Electric Ord-39%.

Bub-

The

Guman (Holdings) Ord-2

dd,

1፰

Great Universal Ord-67 Hawker Siddeley Ord-309 d.

3.

Thursday: The market opened

general advance for the on a quiet note and some small second day in a row on

Board the Chicago Trade.

In cold weather, light offer- cum- ings and Inflation talk bined to spur demand,

Subse- lusses were registered. ofquently the market sleaded at this level which changed le up to the close. Interest was shown in the lower levels. Banks and Unions remained

Hotels and Lands at steady. tricted interest at lower levels. Quite a volume of business was transacted in Dairy Farms which Reitles and beld their Erlee.

comat alightly lower rates. and 3.800 tons of soybean oil-turnover Wos approximately

Exporters said Tunis bought cargo of red, wheat and the continent took 4,000 tons

of

beans. India was authorised to Textiles did moderate business

bus 5,440,000 bushels of

UPI.

P.O

$3,900,000.

ORIENT

LINES

R.M.S. "CARTHAGE"

EMBARKATION NOTICE

for United Kingdom vla Singapore, Penang, Colombo, Bombay, Aden, Suez-Port Said.

EMBARKATION:

SAILS!

Passengers should embark between 2.80 and 4.00 p.m. on Friday, 21st October, 1960.

The ship is expected to sail at 6.00 p.m. on Friday, 21st October, 1960.

BAGGAGE:

Should be sent to the Hongkong Kowloon Whart Co.'s Godown (No. 2 Gate) by 5.00 p.m. on Thursday, 20th October, 1960.

SUBJECT TO CHANGE

The

Imperial Chemical Ord is 74, Marks & Spencer "A" Ordis d, Rolls-Roycek37_6d.

Standard- Triumph-s. Unilever Drai. Woolworth

De Beers

7.

Petaling Tin-Ts 1. Union Corporation-60% 9. Bowmaker Ord-20s 131907, Canadian Pacific Ord-$324. Hongkong & Cision Cas-15 P. O, Stean Nuy. 1014d.

Defig

-Houter.

U.S. WON'T

CHANGE GOLD PRICE

HARD HIT They sald there was a short-

both in age of abalone Japanese and Mexican markets and the prices being asked were "fantastically high."

this

of a

The spokesman which imported the most can- Jean't stand the continuing gold ned fish from South Africa, said outflow indefinitely."-UPI. that there were sufficient stocks

to last another six months.

He added that the boycott. however,

that from meant next year his firm would buy five times more fish from Japan than before.

Abalone steak is a current favourite in America and has caused the shortage.

Chinese restaurants in Malaya will be hard all if new supplies of abalone

available are not

thai grapes,

South who demand butter the

soon.

Importers also warned the price of canned usually imported from Africa to meet

an

Sugar market

Abitibi Pwr. & Paper Algoma Steel Corp.

Allied Chemies b

Allied Mills Inc.

Aifla Chalmers

Am. Brake Shoe

Am. Cable Radio Corp. American Cyanamid Cu. Am. Home Prod.

Am. Mach. & Fdry American Metal Am. Natural Gas American Smelting

STOCK EXCHANGE

Business done at the Hong

22 kong Stock Exchange this 691% morning amounted to approx- 494 Imately $2,580,000. Noon quota- tions and the morning's trans-

actions:

HK Bank..

Am. Sugar Ret. American Tel &

Ampex American Tob

2014

Tei

0231

21002

Anaconda Copper Armour

Baltimore & Onla

Benguet Cons....

Bethlehem Steel

Sharej

Buyers Sellera

1295 1315

Baled

190 1300

110 à 1300

100228

Asbestos Corp,

40 or 1208

Bank of Montreal Honk of Nova Scotis

2 1300

Beech Life Savers

80 * 1300

New York, Oct. 20. World No. 4 sugnt futures cibsod unchanged to

B. C Tel. Co.

601300

Bell Telephone

Union

125 120

200 ZA

three

200 123

1000 120

than

South wert

peanut 71 contracts, produced better

Domestic No. 0 finished two points higher total of tates. UPI.

241

Wharf

240

future

3316

Wheelock"

7.50 1000

Dock

100

3000 200

Provident 210 25.70

HK Hotel . $214

He added bis Arm has found points higher on a turnover of Borden (The) Co

Australian manufacturer

that of during the Muslim festival Africa and negotiations month of Harl Raya, may be in- now going on for regular ship- unchanged on a

ment. creased next year.

Yesterday's Closing

COMMODITY PRICES

COTTON

NEW YORK

Closing prices all in cents per 1b.:

Spot: 2.36 Dee: 31.82; Mar: 35; May: 32.35: July: 32.00; Oct: 32.90: Deu: 32.91 Mar: 32.91; May: 23.05; July: 33.11.

Washington, Oct. 20. The Treasury Department

NEW ORLEANS Closing prices all in cents per said today the U.5. gold

Jb.: price of US$35 per ounce

Spol: 20.75; Dee! 31.47: Mar: 31.7: May: 32.42: July: 32.78: Det: will not be changed.

May: Mar: 3 "AB

Secretary 23.85 Dec: 31.30; Treasury Robert B. Anderson has stated 33: July: 33.75.

LIVERPOOL many times in the past, it is

Closing prices all in pence per our firm position, lo

maintain the dollar at its existing gold Treasury statement parity," a

Bald.

1b.:

American Contract Oct: 22.70; Dec: 22.05; Mar: 23:46: May: 23.40 July 23.05.

Mixed Content

The statement was issued in responce lo inquiries after | May: 13.15;- July: 23.95. speculation

Det: 13.29: Dee: 2320; Mar: 23.00;

on the

London

monet drove the gold drive for above the UB$35 Agures,

NOT TOO CONCERNED The paulation apparently

| reflectal a belief that the

might be devalued,

dollar

the

RUBBER

NEW YORK

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

LONDON

Closing prices all in pence per Jb.:

No. Has spot ..... 28-201

Settlement house term:

SUGAR

NEW YORK

Burroughs Add Machine Britias Amer. Oll British Columbia Pwr. to Calif. Packing Corp.

15 Cena, Bk. of Comm.

Canadian Pacific R.

Closing prices all in cents per 16: 2722-20 2714-20 Jan.

Oct/Del

28-2814

Jan./Mar.

2710-277

Apr./June

July/Sept.

2796-27!! 27.27

General markets, c.l.f. basin, poria: Oct. Nov. Estate crept thin Oct, thirk Oct AMSTERDAM

20 29

per kilogram, c.l.f. Nav:

No. 1 rubber

No. 2 rubber

No. 3 rubber

No. 1 crepe

Cat. Tractor

Celance Corp.

CIT. Financial Corp. Chase Manhat, Bank

Chryser Motors Citett Posbody Commercial Credit Corning Glass Worke Consolidated Edison

Consolidated Paper Continental Can Continental O of Del. Cuban Amer. Bugat Delaware & Hudson Co. Distillers-Seagrome Dominton Starts Dow Chemical Dupont de Namoun Eastern Air Line Eastman Kodak

Paso Natural Qas Family Finance Corp. Ferro Corp. First Nat. City Bank

Ford Motor Co. of georak Pacine General Dynamics Denero cetric

General Foods

Cane,

Contract No. 4 (world)

General Matera

1.13

Gan. Tyre & Rubber

3,11

Goodyear Tyre

3.16

3.00

Mar

Muy

July

Spot-7.AS. Cube)

2.05 buyers Jars.

2.87 buyerS

Mar.

-UPL

METALS

NEW YORK

Closing prices, all m cents per

1b.:

Lepel

Det.

Chec

Zine

The text of the statement: "The United States will con Unue its polley of buying gold

Nov: 33.03: Jani 3281; Mari 32.451 trom and selling gold to foreign May: 8215: July 31,60; Bept: 31.75.

SINGAPORE governments, central banks, and under certain conditions, inter-

Closing prices all In Straits national Inatilutions, for settlement

International conte per lb. fo.. Malayan balances or for other leallinate No. 1 Nov. unterges

ports: purposes, at the established rale 1896 2 of US$86 per find trop ounce. No. Now. exclusive of Handling charges." No. 3 Hoy,***

Treantry omelain professed to Now Now, Din spos, rubbe?, EATONÍNS be not too concessied AE. the] izlanket grape tharket developmental,UP1, 1 No. 1 pale čregu

20.25

0.00

HK Land.. 02 6215

Yautym

12

Ysumasi

{Fights Train

C. Light

10% 100

8515 31% 3134 1230

23.00 23.70 277

500 ( 31A

10002315 2000 € 23.00

50028%

281% 28,60 1000

30 2000 3334

1800 551

Electric

1640 Telephone 100 Telephone

(Right). 19.80

300L

19.90

18 Cernent

ZAIL

56

110

Farm

JS B

1500

2000

100

1500

Watson... 27790 28.20

Allied inv.

A28

800 6.15 -0.03 1220

2000

BEUS Nanyang

1000 $4 2400 1:33 70900

HK Č. 1490 10:17

Closing price all in guilders Total Sales: VI contract

Open Interest: 2,000 contracts.

2.31 buyers Contract No. 6 (domestio)

2.68 buyers (Nov.

SpotC1.5. N.Y. -day

Great Northern Raliway

Grumman Alroraft

Gulf Oil

Hammond Organ

Hiram WaBehr Idaho Power

6.00 | Imperial Oil

$.05

Total Sales: is contracte. Open interest: 241 contracts—-UPI.

FOREIGN EXCHANGE

NEW YORK Closing rates:

.1018 Canada

21/02

sterling

10%

|| England effici

Austraita

2-days

Bouth Africa

Other unchanged.

LONDON Closing rates: New York Montree Attnterchan ILPAI COPPERMETT Pinkforu

Limbon

Imp Stre

Interchemical Corp.

Int'l

2011

Machines

International Nickel int? Tel & 28, Kafer Industries Kennecott Copper

Kimberly Clark,

Ligrell & Myeri Tob. Co.

Tully Lobow Gropelerias Lockheed Aircraft

Larowe

Lone

Centent Co. comp

Lorillard P. Lowenstein & Bo

1.00 s/s McDermoti J. Hay Mejaht Iron Corp. Molson Arewery Monsanto Chicas Co. Montgomery Ward Motorola Me,

281 3/10-2.81 G/EN 1.7456-3/7656 19.00-10.00% 14016-440.3 18.30-19.305 11.7043-12.731h 10.265-80,30

29.030.04% 1149-13.8S

NATION CAMS Ties # Natiotinį Dimey prod. National Lead an Nationpi fitael Corp. New York Central, Norande Mines Sad, Norfolk & Western, NY, North, Amer. Aylation Norihwém Alfines Okishimas Net, Kláv Úlls Slevatore Owen india Clare Oxford Paper . Paine de dec, Pan American Airways PayamousPlettres Fanny 37 4, 64, 16.

14,20 Am Taubber

X.D

3.30 0.05 Rub. Trust 640

Talkpo PRAMILY

Hankookumýra Ster, Terry

MACAO MIG

Zaberlain

Vibra 94

Exchange rates

Business was done in the local

thi unofficial, explinkgo market. mering at Gre following ratkijan

6.64 U.), dollar code #2) Tales

Sterling notes(per £15

Australiah ibfke (po). E), ".. Inauteria Tenus(569 106) Bars, Lesia LA CONTRAS

Oct.

Dec.

Copper

Deo.

900

1147

11.19

IT

DY GAYS

3.8135

2.708

2.2510

New Zealand

7.8030

7.8175

LONDON Closing prices, all per long ton:

Buyer Heller

Tin

Copper

Spot

month

94-9651

12:00

Land" "sa, tubLE

gol

JAM

| Paris

Shockholm

Milw

Zitzjoh

872

Int'l mest.

0.80

1