1961-03-24 — Page 2

Page

Old Spice

AFTER SHAVE LOTION /

There's Masculine

Freshness in

Old Spice

SECOND HONGKONG FUND

THE CHINA. MAIL FRIDAY, MARCH 24, 1961.

WEEKLY REPORT ON THE HONGKONG STOCK EXCHANGE

RECESSION SETS IN

But idle money still in evidence

The first recession in á lòng time set in in Ice House-street the past week as stocks weakened all along the line.

The recession, believed by some observers to be of temporary duration, has immediately fol- lowed a period of record-breaking business, both in price and volume, in the Hongkong Stock Exchange.

the

There was no sudden turnble | Second Hongkong Fund, with in share prices, but rather an offer of one million units at gradum cusing off which began $1 each. Any member of the two weeks ago and was ac- publle may subscribe to |centuated during the past week. Fund, Subscriptions opened on The daily volume of business March 20 and will close en has remained good. silli | March 28 at 3.30 pm, reflecting the large amount

Since the fogururation of the

of idle funds, much of it from First Hongkong Fund in averscas, circulating in the August, 1900, those abarca have Colony.

appreciated by 43 per ceri. Declines ranged from Lem-Today's quotation Is $1.34 bards' minus $1 at 40 to Docks'

buyers and $1.43 sellers. minus $17 at $132.

and Providents,

There were, however, two Small invertors can now buy exceptions Hongkong Banks shares in the Second Hongkon

Fund at $1 par value. How- A feature of the week was the ever, after March 28, the rale introduction of the new Hong-of those shares will fluctuate ac- the value of shares kong Bank shares representing wording to one-fifth value of the former and Investments included in the Fund, that is the "sellers" price. The Unit Funds underlake to The new shares opened at $422 and closet at $482 on Monday.invest in most of Hongkong's

shares.

I gradually went up to a peak leading shares, and to declare a

of $50 on Wednesday, but twice-yearly dividend.

went down to $428 at yester- day's close.

The quotation, of $428 is equal to $2,140 at the "old" volue compared with $1,985 the previous week.

Hongkong and Kowloon Wharves, which had been rapid ly rising, hit a peak of $400 on Monday, probably in anticipa- tion of a better dividend. The following day the company de- clared a dividend of $12 per share, compared with $8 last

усат.

Market diary

HK Bank Lombard

Wheelock

IK Wharf

• HK. Docks

Talkob Docks Provident

UK Hotels HK Lands

* The share market

at

a glance *

Up or

Dividend

Feb. 23

1875

March 2

1805

March 9

March 15 March 23

Down

* Bonus

1930

1985

428*

200

2.8

4354

48

G2

50

40

-1

12.40

14.

1K

25.30

14.10

1,20

Bab

202

202

230

363

320

-12

135

230.

150

140

132

$10

74

7456

806

80

7552

$2.49

20.80

26.80

20.30

29.40

20xd

-200.

$1.30

4014

4814

5014

494 ex all

40 ex all

6.5

8414

8534

014

78 ox all

73%

12,40.

1,3

2.125

2.15

2.80

2.725

2

240

13.750

35

344

3434

3214

$2.05.

214

214xd

zio

201

$10.50

130

137

145

145

132xd

$9,50

304

31

3514

3334 37xd

3234

$1.10

3.1

301

3554

$1.70

· 4.8

40!4

454

GO

เป

48 12xd

45xd

434xd

$1.75

60%

60

$4

3514

31

4344

42

40

$1.85

40

40

51

1816

48

489

40

13,80

14.30

6234 15.10

50

47%

$2.50 $2.75

15

14.60b

-400

230

0,00

11.30

17.20

17b

13 20.60xd

12.70

11.80

-904

$1

10.00%

18.20

00

8.15

8.05

9.05

8.70

8.15

-560

0.8

13.20

13

14%

13.80

12.80

$1.10

8.0

HIK Realty IK Trams Star Ferry Yaumatis Ch Light Electrics

HIK Telephone G. 1. Ctment Dairy Farm

A. S. Watson

Lane, Crawford

In investment

Alled

IIK & FE Inv

Textile Corp

Nanyang

•{Sub-divided into five shares)

224.

New York recovers

some

losses

New York, Mar. 23.

Stocks recovered some of their early losses in a late rally today but steady selling pressure sharply depressed the rails.

Motory

Gen. Pub. UBL

Gen. Tel. & Elec.

3314

HONGKONG STOCK EXCHANGE

Our Own Correspondant

Business donc at the Hong-

Shares Buyers Belleza

47

M

207;

Cen, Tyre & Rubber Getty oil

this kong Stock Exchange

amounted to ap- morning

Goodrich (B. F. Co. Goodyear Tyre

35

quotations

proximately $3 million. Noon

and the morning's |

10

Hammond Organ

Great Northern Railway anuman Aireran Gulf of

transactions:

33

Sales

311⁄2

410 HK Dank..

50 420

Homestake Mining Co.

4252

Hussman Refrig.

1024

200 1400 50402 .50 4 400

200402

42

IIK Bank

Imperial Tabaces

13

Lon.

Reg.

364

Whart

354

Interchemical Corp.

33

Talkoo Dock

13 74

4034

Hiram Weiker

finished the day, Beneral Molers virtually unchanged while most steels showed minor fractional declines. Chemicals continued weak

with Du Pont and Eastman Kodak down around two cách, but electronics picked up near the finish with IBM ahead three and Raython The market was Friday:

and Litton roughly four, Drug again strong and price changes

were generally and of shares were not sensational. Utithies

caster, showing some losses of were steady and

were (ione

over a point. Chemical issues in some quantity. Banks passed

mixed with ..Johns- the $2,000 barrier and the Lon-Manville down about 21⁄2 and don Register improved in sym- pathy albeit still $400 lower. Providerts rose to $30 after their recent recession, Rub-

bers improved fractionally $70

The turnover for the week while Cements made the

mark. Turnover was approxim- under review (Friday to yester- duy) amounted to about ately $11,700,000 with the clos- $45,220,000, compared withing tone strong. $45,180,000 for the week before,

Unit Funds

The Hongkong Unit Funds Introduced the Limited have

FIRST HONG KONG FUND Solling Price: 8th August, 1960-$1 Selling Price: 24th March, 1961 - $1.43

IMPORTANT

Applications

The offer opens on 20th March, 1951, and closes not later than 28th March, 1901. must be receiver at the offices of the Managers, Hongkong Vall Funds Limited, P.O. Fox Quo Hung Kong, or 7th floor, Alexandra House or at The Hong Kong & Shanghai Banking Corporation, The Chartered Banke or Mercantile Bank Ltd., during that period.

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 100 UNITS

To: HONG KONG UNIT FUNDS LIMITED

No.

We hereby apply for..............units in the Second Hong Kong Fund at the advertised pries of $1.00 per unit. in nccardance with the conditions contained in the offer and subject to the terma

of the Trust Deed dated 14th March, 1501.

I/We encloso cheque/money order/cash for *........

number of units applied for.

if na Unita are allotted.

ANDOM MAFFARM

being payomot in full for the

We understand that the money will be returned to me/us in full

Z/Wo declare that 1/We am/arò over 21 years of age.

SURNAME(S)(English)

Picure stato

Str. Mrs, or any OTHER NAME(S) IN FULL

ADDRESS

SIGNATURE(S),

Telephone No.................

Date

In the case of joint applications all persons mut sign, Corporations would complete under the tind at an authoribed oftlear whaso designation should be alated)

SPECIMEN SIGNATURE(S),

NOTE: Free information booklets are obtalabbia from leading banks and members of the Hong Kong Blook Exchange or from Itong Hong Unit Tunde Zimited. 7th floor, Alexandés Houle, or PD. Box 100. (Tel. 0106).

Dividend & Bonus announce- ments during the week:

Yaumall Ferry (Old) Final $0.50 per share,

Amalgamated Rubber Inter- im 12 cents per share.

were

U.S. gypsum up about some amount,

the

Point-sized losses were many among the rails on profi-taking and new seling encouraged by poor February earnings and re- cent sharp gains in the group.

Aircraft shares were mixed with Gessa off nearly two but Northrop and Lockheed gained more than a point.

Today's volume was 5,170,000 shares.

Of a total 1,313 shares traded, 317 were higher and 738 lower. American exchange volume

Construction Final 20 centy was 3,100,000 shares.

per share,

HK Gas 80 cents (/-) per share.

A. S.

Watson &Co., Ltd. $1.50 & Bonus $1.- per share.

Monday: There was no gen- eral trenti today, bul some rather remarkable changes in selected shares. Banks and the Light Companies opened with former ris- marked gains, the

closo

ing steadily in price to

Bonds volume amounted to $7,500,000.

Dow-Jones closing stock averagos:

30 Industrials 675.45 off 3.93. 20 Rails 14,50 off 2.22. 15 Utilities 111.67 or 0.40. 65 Stocks 228.34 off UPI.

Closing prices

Abitibi Pwr. & Paper Alden Inc. Acy. ... Algoma Steel Corp. Allied Chemicals

1.52.

Idaho Power Imperial O

ingeruil-Rand

Inti Esiness Machines Int Harvester

International Nickel International Paper Int'l Tel &-Tel Jalus-Manville Co Halser Industrios Kennecott Copper Kimberly Clark Liggett & Myers Tob. Co. Lily Tullo

Lition Ind.

Leblow Groceterias Lockheed Aircraft Loew Incorp.

Lone Star Cement Co.

Lorillard P.

Lowenstein & Sons. McDermott J. Ray McDonnell Aircraft Merck ......... Mesabi Iran Corp. Minnesota Mini Monsanto Chemical Co. Montecatini

Montgomery Ward Motorola Inc. National Biscuit Co.

rational Call Reg. "A" National Dpiry Prod. National Lead

National Steel Corp. New York Central Norenda Mines Lid. Norfolk & Western Ry. North Amer. Aviation Northwest Airlines Qkakama Nat. Cas Otis Elevators Owen-1linois Glas Oxford Paper Co. Patio Gas & Elec. Pan American Airways Paramount Pictures

38388 888888

200

Wheelock ..

13.30 14.20

000

14

2000 13.00

1000

13.90

4000 13.83

F000 (13

Dock

.....

1000 13.40 2000 13.30

4000 13.20

6000 or 13.30

1000 13.40

5000 6 34S

1000 13.80

1000 # 1375

123 123

321

Light 321 3314

200 120 200 124 p00 a 124 200123 200 124 300 128

123

100 323

Provident

XD

28.00

1000 20.00

28.10

21.00

20.00

201

100 or 20 400 29

44

111 Land Ex.All

72 13

Yamuti

(Com.)

2105

XD

in si

100 120

200 120

7215

101%

100 128

30

200 130

022

HK Tram

102%

103

X.D.

300 32

CHARA

1000 + 3

# 404

Penny J. C. Co.

Cl.

30

Philip Morris

1500 un 32,

37%

Pitney Bowes

497%

100020

501

Procter & Gamble Co.

15822

4519

Pittsburgh Plate Glass

702%

Allis Chalmers

201

Portland Gen. Elec.

Am. Brake Shoe American Alline

4415

Pubilcker Industries

www

D

American Cyanamid Co.

47122

051

Am. Home Prod.

107!

100

27

Reynolds Melal

D154

Reynolds Tobacco

021

Royal Bank of Canada

407%

754%

32

Royal Dutch

Telephone

x.......

42% 43%

Theem Mfg.

A

744

Sears, Roebuck & Co.

22

Shell Oil Co.

63)

Saloway Stored

G.. Cement

2719

4714 Baint teg, Paper

Dalry

Farm 301

Schenley Inc.

Scott Paper

1341

at their strongest well above Allied Mills Inc.

The new their previous best. price of the "split" shares at

$432 represent $2,150 at the old Am, Cable & Radio Corp. denomination. Docks lost quito

a lot of ground while Wharves rose to the $400 mark. Gilmans receded steadily and closed at $4,50, Turnover was approxim- ately $10,120,000.00.

the

Tuesday: The market was in gains The

a selective mood, and and losses were mixed. main trend however was de- cidedly

casier. Banks again dominate the market but sellery were absent because of difficulty of delivering at the

denomina- were Electric shares steach but Gas cised during the day. Gumang made some $1.85. recovery and closed at Most other stocks registered small losses. Turnover was up- proximately $8,700,000.00,

new

Wednesday: Business was on

Am. Gas & Electric

Am. Mach. & F'dry. American Metal Am. Natural Gas Americas Smelting Am. Sugar flet. American Tel & Tel American Tab.

Ampex

Anaconda Copper

Armour

Albesios Corp.

Alts Cons. Mining Baldwin-Lima-m

Baltimore & Ohlo Bank of Montreat Bank of Nova Scoiln Berch Life Savers

B. C. Tei. Co...

Doctng Airplane. Borden (The) Co. British Amer. Oli Calit. Packing Corp. Caña, Dk. of Coin. Cana, Brewers Campbell Soup. Conadian Pacific R. Cake (J.) Co.

Pullman

Pure Oli

Radio Corporation

tadio Corp. Pref.

Raytheon

Repubite Steal

Blerter Com.

Sinclair .DII

Smith, Kine, & French

Socony Mobu oli

South Puerto Rico Sugar

100 to 3214

4300

1000

Electric

342%

Nanyang

A. Rubber.

:

#e

640 2560*$3$£9 1858 990038 304000;58** 84f69

2000 24 18.40 18.60 330 10.40 4.30 445 2000 vs 4,475

回

30

40

413

Soulhem Co. (The)

Bell Telephotie

4216

Southern Natural Gas

Watson ...

Beneficial Finance

4314

Southern Pacifle Co.

Allied Inv.

10.00

Bendix Aviation Corp. Benguet Cons.

Southern Railway (Com)

10,80

3000

11.10

19

Sporty Kard

Dellichem Steel

4314

Standard Brande-

$7.

Textile

8.30

12133

HOTS

Standard Oil of Cal.

46.00

0574

Standard Oil of Ind.

0.70

3414

Standard Oil of.N.J.

4046

Stett Co. of Canada

Trust

7,70

63% Sterling Drug Co.

2442

Hedity

10

Stately Von Camp,

2316

100

Stone. 8 Webster

mit

23

Bludebaker Packard Corp.

NK. & FE

124

Shineining

35

Berit & Co.

401%

Inv.

Gilman

Техва Ф.

15

Textron Inc.

44

Tifokal. Chem.

0016

Tide Water Oll

- 85354

Time Inc.

185% Trader unco

781%

Travelers, Inc.

443%

Tri-Cont Warrants

4.40

18

Twentieth Century Fox Fum

Union Carbide.

AT

Valon Oll of Cai.

Union Pacino Railway

United Aircraft

Mando Elec. 116

Underwritety

to

Bob da 14.6h 500 14.20

11.48

1000

-1,000 ft 20

a quleter scale today and most cat, Tractor shares were marked down on | Clanesa Corp. very selective trading. The mac-C.1.T. Financial Corp. ket trend changed near the Chrysler Motors

Colombian Carbon Co. close and nearly every share Commercial Credit turned upwards and the day Corning Glass Works onded on a busy note with more Consolifated Edison buyers thah sellers, Turnover Consolidated Paper was approximately $5,600,000.00. Continental Can

Commentsi Oll of Del. Thursday: The markot caned Creole Pet again today on a wide front, Crane Co. nearly every share belag markt- Cuban Amer. Sugar

Comuiners as

Diamond Nati

Plakikler-Seagrama

ed down. Profit takeru were in Delaware & Hudson Co. eviäünce and buyers were al- tracted at the lower prices. The two way business resulting in good average turnover 90,100,000.00.

Unit trust

First Hongkong Fund: Buyer Briem 1.31. Solar Pre 15:

Daminten Stores Douglas Aircraft

of Dow Chemical...

Dupont de Nemours Kastern Air, Lino Fatihan Kodak

El Paso Natural Gas

daily Fiance Corp. Forco" Corp. --

Fitestone Tym de Rubber rim NM City Bank Ford Motor

Georgia PAOLOR GANG Dynapter General Food

172 United Fult

United, Cas Corp.

1.4. Tóu "*****

21.8. Gypsum

19

0012 U.S. Line. Co,

30% UA, Rubber

2017

78% US. Bmejting

18. Steel

20 US Steel, 7 PC. Pr 1134

40

Warner DrDB, -

Waukesha Motors

Westinghouse Air Brake Weaknabove Electrio

40 Western Union Tel, Coy

West Ya. Pulp & Paper pi WinDb Stords:

Wentworth (K. W.)

·Zenith Asdia

4000 4.45 1000 4.470

1000 4.40

· 2000 à 4,220

4000 $,10

2000 6 4.175 2000

LONDON

STOCKS DROP

1

London, Mar. 23. Doldrums hif the London Stack Market today. Prices tended to drift lower except among some Industrials which exhi- bited firm spoti:

There was little. support for Blocke blus chips and dollar declined. Oll shares moved to lower levels Bg some profi- taking took place, Interest in gold shares was at a low abb and prices eased. Coppers um= proved on sorre London buy- went sharply ahead ing and toward, the close,--AP.

Closing prices

British Governmont Racurities 235%, Consolidateű-- RANJA 3. Conversion-255-11/16,

3

Savings 1955/65-ESO-31/32.

2 Savings 19-270-11/10. 37. Savings 1005/75-£76-13/10.

Overseas Bonds.

85%, German (Déwen)==£98.

75, Greek, Refugee. 1924- £35.

Banks Insurances

Barclays Ord-744 Bd... Chartered Bank-Cad. Guardian. Atzurance—130g 3d.

Hongkong Bank-219.

Lloyds Bank-ES

J.

Lombard Banking Ord-2 d.

*TIO

British Patroleum-50 3d.

Burmah O-65, 34;

Shell Transport Ord-1562 Dd.

Bieels & Engineering.

Babcock & Wilcox Ord-54 p. Tube Investments-02% 36. United Steel-,

Vickers Ord32a 4ąd.

Biestrie

Elec. & Mus. Industries-45 34.

English stric and 358 36.

General

Ord-37 Od.

Phillipe Lamp Works-12

Assoc. Portland Cerrient―00s 734

Industrial

Boardman. Marden Ord-3s figu. Borax (Holdings)—191 450.. Dunlap Rubber Ord.-231 04. Forestal Zand--123 00. Cifman (Holdinga), Ord—53 456. Hudson's Bay. Redlansion Ordid $id. Tumer & Newall. Ord-70s Unilever Ord139 d. Westland Atreraft-17 34. De La Rus Ord-01s ad.

Рарег Bowater Paper Ordials 33. Wiggin's Toupe. Ord-52a 1914.

Tobacces Britishi-Amer. Tob. Ord—235 $0. Carreras "BON

1014. Imperial Tobacco, Ord-63

Motora

British Molor Ord--17a 63. Hawker Siddeley On-20s 714d.

Jaguar Cars Ord-821 6d. Rolle-Royce, Ord-43% 44d. Standard Triumph-11s od

Textles

Calico Plafers Ord-Ha, 11⁄2d; Conta (J.P.) Ord—4400 Courtauldi. Ordestõs Tijd. Fine Spinners Ord-des 33. Lancaire Calton Ord-x 11. atered

Great Universal, Ord-54.6r. Marks & Spencer "A" Ord-100a. Moss Empires Ord--i3-41d. Woolworu (F,W,), Ord-079..

Miscellaneous

Canadian Paciile Ord-$454%,

Hongkong & China Gid.

Indo China Det. Ord-2in Land Recurities Ord-28 07:

P. 20. Steam Nav.... Det,—457. Stol Theatres 100, 04.

De Beers Def-1306,94,

Bo Tinto (Beareri-E2-3/18,

hood. Antelope · Copper de 2010.

Union Corporation-bas

Welkom Gold Mile=108 34, Western Höldināto-12#..

Robbers A TOSE

Angio Indonesion Plants 10.

Tea. Ord-30s. 3

Tea Ord-108 3. Kuala Lumpur-ebona 32 iolsa. Lambak Rubber-05# 715d.com

-Beuter,

Agreed merchant

ratės

Malaydd Dollars: Máximblın Seliny 02-15/16, Miňlimumi Buy- ing 35-7/10 TWT.; 55-0/10.O.D.; 20.30 04 30 days; 54-3/16 60 days.

UK Can... 20.20 201 1000 a 20.49

TA IV...

Peak Trim -

Fully Pala,

Partly Ca

Biar Ferry.

Ropa

1000 + 10.40

1500

200 7 10.40

Exchange rates

.Busines

600 20.20

14.00

unoЛBejai

410-

00

was done in the locat

market

namming at me following Pálak:

1.3. deliat : ipër,83) Sterling Hotea (par Air

thin

Australidh fetes siper &T)er.

14.09 11.00

Todanestar Hupiah, ¿per 3001, Bled (ver 10ấy Bungapard (otrdite?? ...