FAR EASTERN ECONOMIC REVIEW
COMMODITY PRICES
A selected list of Hongkong commodity prices last week, ex-godown,
and in Hongkong dollars unless otherwise specified, † Rice (Thai origin) per picul
sales, *= nominal, §- not quoted, ‡-
selling offer.
Oct. 21
Oct. 23
Oct. 25
White rice, 100% whole
1st grade
2nd grade
Special grade, old crop
58.40+ 58.90+
55.00*
55.00*
54.00+
53.70+
Special grade, new crop
57.30*
$7.30*
1st grade
2nd grade
54.80* 54.80* 53.00*
Aniseed star
(Nanning origin) per picul F.A.Q. Export quality C & F Europe
per M. ton
Haiphong origin new stock per
M. ton
Oct. 21
Cassia (Kwangsi origin) per picul
53.00*
Cassia broken A grade
White rice
[]
Cassia lignea
H
5% old crop, 1st quality
5% new crop, 1st quality
10% old crop
10% new crop
3-quarter rice
1st quality
2nd quality 3rd quality
Broken rice
A-1 extra old crop
A-1 extra new crop
A-1 special old crop
A-1 special new crop
A-1 ordinary
C-1 special old crop
52.501 51.80* 51.60* 52.20* 51.90+ 49.50* 49.50*
52.50*
Tung Hing origin
Indonesian origin
Oct. 23 Oct. 25 88.001 88.001
£132.00 £132.00+
1,250.00 1,250.00‡
175.00‡ 175.00+ 195.00 195.00+ 190.00‡ 190.00% 115.00* 115.00*
Raw Cotton
(Brazilian origin)
Oct/Nov. shipment c.i.f. Hong-
48.30* 47.30*
48.30*
kong
47.30*
Grade No. 4 1"/32 per lb.
43.30* 43.30*
Grade No. 5 1"/32 per lb.
43.60*
43.60*
Grade No. 6 1"/32 per lb. (Eastern African cotton)
0
23.55d* 23.55d* 22.70d* 22.70d* 22.05d* 22.05d*
44.30*
44.30*
41.50+
40.60+
Oct/Nov. shipment c.i.£ Hong-
kong
41.50* 41.50*
Type Mwanza 1-1/16"
38.00+ 38.30+
No. 1 per lb.
35.30*
35.30*
No. 2 per lb.
C-1 special new crop
Glutinous rice
Special grade
1st grade
35.00*
35.00*
No. 3 per lb.
26.75d* 26.75d* 26.15d* 26.15d* 25.15d* 25.15d*
Grey sheeting (per pc)
49.80* 49.80*
China origin
46.80*
Broken
Wheat flour (Australian origin)
L
35.50*
47.50* 35.50*
Dragon head brand
(63 x 64, 36′′ x 40 yds.) ..
L
Jumping fish brand
50 lb bag
Five swallows
(72 x 69, 38′′ x 40% yds.).
32.00†
29.50*
32.00*
29.50*
White greens
Three horses
Grape
14.20* 14.30* 13.00* 13.20* 14.00*
14.10*
14.20*
Mammoth brand
14.30*
(60 x 60, 36" x 40 yds.)
30.50* 30.50*
Shell brand
Canadian origin
(60 x 56, 36" x 40 yds.) Japanese origin
29.70* 29.70*
Chief's head
Green circle
Red dragon
Saskania
Coconut
Double cross
Peony
Hongkong flour mills products
}
17.30* 17.30* 17.50* 17.50* 17.30*
17.30*
No. 2003
(72 x 69, 38" x 40%1⁄2 yds.) Taiwan origin
31.00* 31.00*
17.30*
17.30*
17.80*
17.80*
17.50* 17.50*
(60 x 60, 36′′ ≈ 40 yds.) (72 x 69, 36" x 40 yds.) jeans & drills (grey jeans)
29.50* 29.50* 29.00* 29.00*
(China origin) Golden city brand White shirting (white cloth) (Japanese brands)
27.50* 27.50+
40.50* 41.00*
40 50*
40.80*
October 31
1963
Australia and the Builders
By K. S. C. Pillai HONGKONG'S vigorous building in- dustry has evoked admiration from yet Mr Henry Wilckens, another quarter. leader of an Australian Building Ma- terials Mission, has described it as "stag- gering both in speed and quantity."
That is precisely why Mr Wilckens and his team of 16 representatives of leading Australian firms specialising in building materials was in the Colony recently in the course of a promotion tour of south- East Asian countries that also took in the Philippines and Thailand,
Mr Wilckens told a press conference that Australia's share of the Hongkong market for building materials, worth about HK$250 million last year, was only 3%. He thought there was ample scope for increasing this share.
Australian industries, he said, were turning out products of British and "Our American standards. Moreover prices are competitive, and we can offer quick delivery through an excellent ship- ping service."
Australia's building industry, he point-
111
il
Contents of Hongkong Affairs
Functional Democracy, by Hilton Cheong- 277 Leen
Buses in a Crowd, by R. H. Leary 279 282
Commodity Prices Australia and the Builders-K. S. C.
Pillai
283
Cheers Cheers
F.EE.R. Share Index
283 283
Quotations
for Selected
Security Sig. Up
Gold Prices;
US$ Market;
Hongkong 283 284 Currency
284
Shares
Rates
ed out, has a total yearly output of HK$6,000 million, and an expansion of about 8%. This output, he said, was far in excess of home consumption, and ex- ports were the answer.
The Mission held a week-long display of selected Australian products at the Hongkong Hilton. The display included such materials as metal and aluminium louvre windows, roller shutters, rolling frills, builders' hardware, aluminium products, concrete marble and stone fac- ings, plastic materials used in building, structural ceilings and a wide range of steel products. Many of the products had been adapted to the special needs of Hongkong-both in quality and price.
Cheers Cheers
By Our Stock Exchange Correspondent
THE OBSERVER of the Stock Exchange is always in difficulties. Having suffered from a shortage of subject matter for a length of time and to a degree that have elicited sympathetic remarks from some of my more appreciative readers, I now find myself with so much material that I can hardly decide what to feature most prominently.
Hongkong Affairs
283
of 344
-F.E.E.R. SHARE INDEX
Oct. 22, Tuesday
102.86
104.19
105.13
105.17
the
week:
Oct. 23, Wednesday Oct. 24, Thursday Oct. 25, Friday
Turnover for 13,020,000.
Based on prices of 20 ordinary shares; August 3, 1962=100.
the developing trend, that has not been present during the market's previous efforts to get off the ground.
For many months I have said that the key to recovery lay in the hands of the authorities, who have the future of the Power Companies firmly in their hands. Last week anticipation of a statement, which everyone supposes must be favour- able to the Companies, was sufficient to raise the price of Lights by nearly 20% at one go. Although the inevitable pro- fit taking pegged them back a little in the closing hour of the week, qualified observers saw this as no more than a normal and healthy correction.
1 can at least say that the past week in Ice House Street was the most in- teresting we have seen since 1961. The The general market really came to life. index is still at a low level and figurewise -with your permission-the index rose by only three points. But there was an element, apparent to those able to watch Quotations for Selected Hongkong Shares
Share
Kowloon Motor Rus China Motor Bus..
But the really significant reaction was that of the Utility index, which rose by nearly 6 points while the general index, not quite so closely affected by this par- ticular development, gained 3 points. It was confidence which received a tonic and nothing else. The Colony needs the Stock Exchange for the future capitalisa- tion of industry as no other territory does, and it can only be hoped that the point will be taken by the parties in whose hands such decisions lie.
Banks again disappointed. The longer this situation continues, the greater the potential of this share.
The last time
Prices 1963
Yield
Low %% High
6.00 66.50 53.50 5.93 63.00 56.50 3.16 146.00 135.00 3.30 70.00 65.00 4.20 26.90 22.80 5.76 31.50 27.50 10.34 12.60 11.30
Maize Thai origin (per picul)
Roses brand extra special flour
of Australian origin
13.10‡ 13.101
Flying dragon No. 16000 Three peaches No. 10000
of U.S. origin
Crown brand extra special of
Beans
Canadian origin
Beans soya (yellow) per picul
Dairen origin (Manchuria)
Manchurian origin (Man-Chang-
kam)
U.S. origin No. 2 Dec. forward ward
D
14.201 14.20%
16.80‡ 16.80+
Poplin (per yd.) 'shirting' (China origin)
40.50+ 40.50t
Green Peony
White rabbit
(Japanese origin)
Fujiboo No. 5000
Moon-camel, 4300 (36" x 60
yds.)
Red beauty 5000
D
1.12*
1.12*
1.09*
1.09*
1.24+
1.24+
Up or Down Closing on on Previous
Share
Oct. 25
Week
% Dividend & Bonus
1.14*
1.14*
HK Bank
$330.00
+ 2.00
$8.80x
$4.00w
Prices 1963 Yield
High Low 3.88 $356.00 $310.00
Up or Down Closing on on Previous
Week Oct. 25
Dividend & Bonus
56.03
+ 2.50
$3.30y
38.00+ 38.00‡
New stock
Oct. forward
Garlic Tai-An origin (Chekiang
A
per picul) New stock
Tea (Fukien origin) per picul
22.50/ 22.50‡ 23.00+ 23.00$
34.001 34.00+
10 counts
Sun camel 4400 (36′′ x 30 yds.) Cotton yarn (per bale of 400 lbs.) Chi Ken Liu (Taiwan origin)
1.14*
1.14*
Loudon Register
306.00
+ 2.00
$8.80x
$1.00w
4.18 306.00
276.00
59.00
+1.00
$3.50y
1.23*
1.23"
Bk. of E. Asia
276.00
$3.90y
3.26
280.00
272.00
Peak Trams (F.Pd.)
142.00
$4.50y
Lombard Ins.
48.00
+1.50
$2.60y
5.42
48.00 42.00
(P. Pd.)
68.00
$2.25y
China
Underwriters
17.50
+ 0.20
$0.60y
3.43 17.50
15.70
China Light
26.20
+3.10
$0.60x
$0.50
Int'l Inv.
12.10
+ 0.50
$0.759
$0.25z
8.26
12.10
10.70
HK Electric
29.50
+1.90
$1.10x
$0.60w
20 counts
V
720.00*
720.00*
Allied Inv.
7.10
+0.20
$0.50y
$0.10z
8.45
9.70
6,90
Macao Electric
11.60
+ 0.30
$1.20y
21 counts
Pai Mu Tan, white tea 1st
quality
Ti Kwan Yin, black tea 2nd
quality
32 counts
1,360.00‡ 1,360.00%
Sugar (granulated,
1,840.00† 1,840.00†
Cement
(Japanese origin) c.i.f. Hongkong
ex-ship per M. ton
825.00* 825.00* 835.00*
835.00* 1,030.00* 1,030.00*
HK F. E. Inv.
16.80
$0.60x
$0.45 w
6.25
20.50
16.40
HK Tel.
30.00
0,50
$1.753
Loan & lov.
1.95
$0.06w $0.06x
6.15
2,30
1.90
HK Gas
14.50
9.30
$0.80y
5.83
29.20 38.75 5.52 17.60 14.00
Wheelock
12.60
+ 0.30
$0.30w $0.45%
5.95
12.60
10.10
G.I. Cement
70.00
+1.00
45.007
7.14 75.00 62.00
U. Waterboat
21.00
$1.80y
8.57
25.40
21.00
Metal Industries
3.00
50.109
3.33
3.40
2.30
E. Asia Navigation
2.70
+ 0.40
$0.03y
1.11
2.70
1.55
Amoy Canning
41.50
$2.10y
5.06 46.00
41.50
HK Wharf
55.00
$2.40y
4.36
66.00
55.00
Dairy Farm
34.00
+1.75
$0.60w $1.509
6.18 37.25
29.60
HK Dock
40.25
0.25
52.00y
4.97 42.25
33.75
Lane Crawford
20.60 +0.10
$1.00.
$0.60z
7.77
23.70
20.20
(Taiwan origin) per picul refined
(Taiwan origin) Portland cement
91.00* 91.00*
China Prov.
22.20
0.30 $1.009
$0.302
Taikoo Dock
54.50
2.00
$3.20y
8.11 27.20 20.90 5.87 66.50 52.50
Watson
53.00
53.00
$1,00z
7.55
60,00
53.00
Caldbeck
$7.00
$6.00+
6.90 87.00 73.00
No. 24
Y
No. 21 brown
-
No. 18 brown
Tung oil
100.00*
102.00* 105.00*
100.00*
(China origin) forward five rams
45-kg. bag, c.i.f. Hongkong ex- ship per M. ton
HK Lands
66.00
1.50
$1.20x $1.20
HK Realty
1.75
-0.07
$0.125y
71.50 3.64 7.14 2.00
64.50
Sincere
11.90
+ 0.40
$0.50%
4.20 13.50
10.80
1.675
China Emporium
26.00
$1.20y
4.61 26.00
25.20
90.00† 90.00+
Humphreys
23.70
-0.30
$1.50y
6.33 27.60 23.00
Sun Co., Ltd.
3.10
$0.159
4.84
3.30
2.75
Y
Local P. & P.
39.00
―
5.13
40.00
36.25
Wing On (HK) ...
154.00
$6.007
$2.00z
5.19 170.00
152.00
(China origin), refined, in drums
Newsprint
brand 45-kg. bags, c.i.f. Hong- kong ex-ship per M. ton
HK Construction
22.20
--
3.00
4.50
22.50 20.00
Kwong Sang Hong.
280.00
$6.00
2.14 282.00
266.00
Gilman (Holdings)
3.95
+0.13
$0.1925y
4.87
4.10
3.00
China Entertainment
72.03
$0.50
$0.70%
1.66 72.00
59,00
92.501 92.50*
Jardine Matheson
10.70
+ 0.40
$0.30x $0.20w
4.67
11.70
Vibro Filing
18.50
41.00
$0.60%
8.64 19.20
12.00
9.35
Rubber Trust
4.60
-- 0.02
$0.12w
$0.38x
10.87
6.00
3.85
per Long ton
Soyabean oil
4,752.00* 4,752.001
Newsprint in reels 31"
HK & 5 Hotels
24.50
+ 0.10
$1.50%
6.12 36.50 23.70
Amal. Rubber
3.50
+ 0.05
$0.10w $0.24x
9.71
4.75
3.45
(age 302 Afm344..
(Japanese origin) Old stock in
drum
94.00 93.50$
97.00* 97.00*
superior quality
(China origin) 50-52 gr. per 1 lb.
(Canadian origin) 50-52 gr. per
1 lb.
(U.S. origin) 50-52 gr. per 1 lb.
City Hotels
7.80
- 0.35
$0.50y
0.41*
0.41*
Chinese Estates
795.00
$30.00x
$15.00w
6.41 5.66 810.00
10.20
7.45
Shanghai Kelantan
1.55
$0.12y
7.74
1.70
1.55
795.00
Sungala
2.75
$0.10 $0.20x
10.90
3.40
2.60
Star Ferry
45.50
$0.85w
$1.25x
4.61
64.00
45.50
Textile Corp.
4.45
-0.07
5.00
3.80
Yaumati
105.00
+ 4.00
$4.00%
$2.00
5.71
117.00
100.00
Nanyang Mill
7.25
- 0.25
9.30
6.70
0.42*
0.42*
AK Tram$
36.00
+ 0.25
$1.50x
$1.00
6.94 40.25
35.50
H.K. Breweries
48.00
+ 0.25
$1.523502f PP.
49.25
46.00
-Interim div.
0.41*
--Final div. -Yearly div.
2--Bonus.
Total. Dividends paid quarterly. Total dividends and bonus paid,"
$ Anticipated.
24.
0.41*
284
Hongkong Affairs
Pa
JTT
great things were expected of Banks, which after all was only a "split", they rose from the $900 region to something like $2,000, and as a United Kingdom correspondent of mine wrote some little time
"this Institution operates in ago some of the trouble spots of the globe but strangely enough, the more trouble there is, the more money they seem to make."
Asia Navigation and Loan and Invest- ment, two of the least active shares in recent months, both registered more than useful gains on bargains marked. As so often happens to low priced shares, this passed comparatively unnoticed, but a 50% rise in the former and a more modest rise of nearly 10% in the latter should gladden the hearts of shareholders. I suggest you also keep a close eye on Realties and Gilmans-you will not be wasting your time.
Munday
T.T.
-Gold Prices (94.5% Fine)- Per Tael in Hongkong
Monday Tuesday Wednesday Thursday Friday
Opening Closing High Low
HOLIDAY
250.25 250.25 250.25 250.125
The price of har silver (99% fine) held steady at HK$8.60 per tael during the week.
Security Stg. Up
By Our
October 31, 1963
REVIEW
FAR EASTERN ECONOM
-Currency Rates in-
Hongkong
DODWELL & COMPANY LTD.
HONGKONG & SHANGHAI BANK
BUILDING
HONG KONG
Wrek ended Oct. 25.
NOTES
Closing High
250.50
250.375
250.375 250.50 250.375 250.25 250.375 250.25
Australian L
Belgian Franc
250.25
250.25 250.375 250.25
Burmese Kyat*
Cambodian Riel*
7.15
Canadian $
5.31
Ceylon Rupee*
55.00
Low T.T."
12.82 12.84 12.82 12.875 11.00 11.20 11.00 11.560 43.00 44.00 43.00 120.930
7.10 5.32
5.342 121.333
7.00 5.31
English £
16.03
16.05
16.03 16.10
Week ended Oct. 25.
French N.F.
1.17
1.425
1.17
W. German D.M.
1.435
1.449
Indian Rupee*
83.50
83.50
83.00
120.845
indonesian Rupiah*
0.60
Italian Lira* ....
0.91
Japanese Yen*
1.49
1.495
1.485
3.80
2.50
1.85
1.855
1.85
1.882
1.60
New Zealand
15.00
15.10
15.00
Pakistan Rupee .
78.00
78.00 77.00
16.10 120.930
Philippine Peso
1.47
S. African Rand
7.85
8.90
Swiss Franc
1.325 1.33
1.325
1.335
Taiwan NT$* Thai Baht
13.50
14.30
13.50
P.O. Box No. 36
Telephone No. 35621
26.90
26.90
26.60
Vietnamese Piastre
4.00
4.80
4.00
but are
Importers, Insurance
Contracting
Exporters, Shipping and Agents, Machinery
Engineers, Refrigeration
and
Financial Correspondent THE MARKET was very quiet last week and movements were small except for Security Sterling, which rose from an opening rate of 2.78.90 and 2.79.05 bid and asked to 2.79.30 and 40, with actual business done at even higher rates. London silver saw a slight rise on the Wednesday for forward only; this moved
US$ Market in Hongkong-
Demand drafts* Notes High Low High Low High Low
HOLIDAY 5.735 5.73125 5.7275 5.7225 5.7225 5.7150 5.7325 5.72875 5.725 5.7200 5.71875 5.71375 5.73125 5.7275 5.72375 5.7200 5.7175 5.7125 5.72875 5.72625 5.7225 5.7200 5.71625 5.71125
Tuesday
Wednesday
Thursday
Friday
*Buying Rates.
FAR EASTERN
ECONOMIC REVIEW
The Far Eastern Economic Review is a weekly journal of trade, industry, finance, trans- portation and public affairs in East and South Asia. It has been published from Hongkong con- tinuously since October, 1946.
It retails for HK$1.60 per copy in Hongkong. The annual sub- scription (for 52 copies, all folioed-in Special Supplements and four indices of the four quarterly volumes) is HK$80 (or US$14 or 5) in Hongkong.
Overseas subscription rates as follows:
are
LOCAL EDITION (by sea- mail): £6 or US$16 or HK$93 to any destination.
AIR EDITION (identical con- tonts but printed on high-quality
bible paper):
By individual airmail:
India, China, Japan and South. East Asia (11 or US$30
HK$174;
North America
US$55 or HK$315;
South America
HK$370;
or
&
Caribbean
US$65 or
Europe, Middle East and Africa £18 Pages 360298;
and
Week ended Oct. 25.
Australia & New
A £23 or HK$288.
By air-freight (this
Zealand
form
of delivery is cheaper, but is available only in the countries listed and takes between two and four days longer than individual airmail):
Australia A£11 Burma Kyats 90 Canada C$30 Europe (via London)
£9.10.- Germany M 114 India Rs 90
arc
Japan Yen 7,500 Malaya M$55 Philippines Pesos 66 Singapore $$55 Thailand Baht 420 U.K. £9.10.- U.S. US$30 These bulk deliveries effected by air-freight parcels despatched weekly to twelve cities spread over four continents (Bangkok, Calcutta, Colombo, Kuala Lumpur, London, Manila, Rangoon, San Francisco, Singa. pore, Sydney, Taipei, and Tokyo). We are the only Asian publication enjoying such a wide network of air-freight delivery services.
Our Overseas Agents are follows:
FLS
AUSTRALIA: Subscriptions: Swain & Co. Pty. Ltd., 330-332 George Street, Sydney, N.S.W. (Tel. 25-4151). Advertising: John Jackson and Associates, Industrial Economists, 103 Clarence House, Alfred Street, Milson's Point, N.S.W. (Tel. 925770; P.O. Box 331 North Sydney),
BURMA: The Ava House, 232, Sule Pagoda Road, Post Box 418, Rangoon.
to 111%d and re- mained there for the rest of the week. Spot silver was unchanged at 1114d.
Currencies regis- tered practically no movements and the price of international
Korean Won*
Laotian Kip
Malayan $
Dutch Guilder
| |
The above rates arc not guaranteed compiled from sources we believe to be accurate. a high or low for a particular currency is probable indication that little or
The absence
2
of
no business has been transacted.
* 100.
** Agreed merchants' maximum selling rates.
gold also remained more or less un- changed. New York silver was unchang ed throughout the week and business in futures was very small, with no con- tracts passed on some days. This is at- tributed to the availability of large sup plies from the Treasury at present rates.
CEYLON: K. V. G. De Silva and Sons, 415, Galle Road, Colombo 4.
GERMANY, AUSTRIA & SWITZERLAND: W. E. Saarbach GMBH, Ausland-Zeitungshandel, Koeln 1, Gertrudenstrasse 30, (Telephone: Koeln 212631).
INDIA: A. H. Wheeler & Co. (Private) Ltd., 18, Netaji Sub- hash Road, Calcutta. (Telephones 22-4945/46) and Eruchshaw Building, 249, Dr Dadabhai (Tele- Naoroji Road, Bombay. phone 26-3915).
MALAYA: Marican & Sons (Malaysia) Ltd., 321, Jalan Tuanku Abdul Rahman, P.O. Box 958, Kuala Lumpur.
East) Ltd., Kenrick House, 3 JAPAN: Douglas Kenrick (Far Enokizaka-machi, Akasaka, Minato- ku, Tokyo. (Telephones (481) 2250, 6702, 6712 and 6727).
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English
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South Chungking
Rd., Taipei, Taiwan.
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