SHIPPING
JAPAN LEADS THE MARINE ENGINES
WORLD
Tokyo.
Japan, for the second year running, leads the world
0.9
the bustest ship- building country. She has gone fürther ahead since 1956, when she snatched Britain's title of ship- builder to the world.
Her total for 1957-433 ships, of 2,432,506 tons-is 000,077 tons more than that of 1950, and has Loen 'surpassed only by the war- time efforts of the States.
United
West German yards, too, have
according Fet up record.
to figures published by Lloyd's Register. They launched 418 tons, last ships, of 1,231,152 year, their best ever.
LAND-TESTED
London.
For the first time in the hlatory of marine electro- mechanics Maschinen- fabrik Augsburg-Nurn-
berg and Allgemeine Elektrizitacin Gesellschaft hive assembled and tested diesel- EL twin-screw electric ship's propulsion on land. Normally such engines are assembled on board the abip.
The ship for which this pro- pulsion was made is being built shipyards by the Indian State
In- at Bisakhapattiam for the dian Navy. When an Indian de- legation wanted to ste the pro- pulsion working. M.AN. had to And a way of showing funcilons.
CONSEQUENCE Consequence for British ship-diesel engines each yards is that their proportion of the world's output has dropped in two years from 27.7 per cent to 10.0 per cent.
Ten years or so ago British yards were launching 37 per cent of the world's merchant shipping. Now, 1,000,000 tons behind the Japanese, they just bent Ger- zatny with
ships 200
أنه
menace
of
ol
1,113,701 tons.
How-and-why note: Clyde Edward Denny shipbuilder
"the spoke competition from Japan," where ships were sold for less than it coste a British Brm to fhem.
LIBERIA RULES THE WAVES
London.
Liberin, the tiny Negro Republie on the Atlantic coast of Africa, hus now moved into first place among the world's mari- her time nations with 8,406,626 tons of tankers. She lends the British "Red Duster" feet of oil ships by mere 43.268 bins, but her "for of convenience" fleet in growns at a faster rate.
Some of the seven 100,000-t tankers now buildng are likely I be added to the Liberian fleet In the next two years.
ander
LITTLE HOPE
British shippowers operating their nation Bag sec little hope of regaining the lead unless their heavy taxation reduced.
is
Liberia which offers regis- tration at low rates of tax to foreign shipowners-ms built up her mammoth tanker fleet
į
ما
The propulsion consists of two developing 1,540 horsepower, driving two generators. These generators, in turn, drive two electromotore coupled with the shafts, mitting a smooth variation the rointions per minute up 200 r.p.m., without changing the speed of the diesel engines.
per-
of to
The rotation of the BCrewS can even be reversed without of any change in the running the diesel.
the screws During the test. were taken from the shafts and replaced by specially built water the on- brakes which enabled
tineers to show the functioning of the instalinijon.
ONASSIS SILENCES
THE RUMOURS
THE CHINA MAIL, WEDNESDAY, MARCH 5, 1988.
and
TRADE and
The New
COMMERCE
York HONGKONG
Stock Market
New York, Mar. 4.
Stocks made an irregular advance today with
volume rising moderately.
Union Oll of Cal
Union Pacific Juliway United Aireract
Olts featured among the Union Carbide major departments of the in- 1st. Steels generally dustrial
higher. Tobacres and moved motors were mixed. Chemicals strengthened and most steels
advanced,
ieres provided the 5pcelal real Breworks. Bucyrus Eric, American Hawallan Steamship and laveg Industries had de- clines of 3 to 3 points,
It was the third gain in a row for the Industriais, With- out an attendant rive in rails and utilities the industrial guin was classified
technical 03 a rebound.
Of a total 1,118 issues traded, 552 were higher, 329 lower.
New York Stock Exchange volume was $2,010,000 shares.
New York Stock Exchange band volume was $4,050,000.
American Stock Exchange volume was 540,000 shares.
United Gas Corp. US. Foll "
VA, Gypsum
UR. Lice Co.
UB. Rubber U.B. Smching its. Stref...... Westinghouse Electrie Western Union Tel. Co. Wem Va Pulp & Paper Woolworth
STOCK EXCHANGE
Our Own Correspondant
this
Business done on the long
Stock kong
Exchange morning amounted to Appro- ximately $177,000. Noon quota
SECTION
Page
The New York NEW YORK
Cotton Market
V
New York, Mur. 4.
Cotton futures market slow progress today as most traders marked time pending congres- atonal developments on farm legislation. - After Ded-sawing within a range of 86 cents a bale, the
market closed net unchanged SINGAPORE
to off 7 ponia. Opening prices were or 4 to 14 points.
New
ăn tons and the morning's trans-Crleans closed off 0 points.
actions were:
Shares Buyer Sellers Sales
BANKS
3014
HK
4116
-Ualled Press,
Is Germany Endangering World Trade?
London, Mar. 4.
Dow Jones closing average. Mr Reginald Maudling, Pay-
were:
33 Industrials
443.00
20 rads
is utilities
72,24
US stocks
150.70
40 bonds .....
Comm. future price index
135.84
Closing Prices
Allied CrTICA)
7.30 ...... מ*
INSURANCES
Unloa
SHIPPING
STOCKS
RUBBER MARKET
New York, Mdr. 4,
Rox rubber futures today
closed 10 to 33 points higher with sales of 142 contracts.
May
20.00
March
25.90
25.90
July
20.40
Bapt
20.60-65
Nov.
30.50
Jutt,
Mar.
20.00
Standard contract closed 10 to
30 points higher with no sales reported. Karch
39.00
20.50
20.40
20.50
20.30
20.30
20.30
July Bept Nov.
MAY Singapore, Mar, 5. Brokers today quoted the following stock prices:
Batu Lintang Rubber Co,
Bri Dorneo
Circulation of a tow March delivery notices brought spot
May monih liquidation.
and Juty contracts had recurring milles on routine trade buying while hedge selling subsided,
New crop months were un the defence
L.tri most of the day. Uppermost interest centred in proposals to boost roll bank funds, which would retiro a considerablo cotton астроле from cultivation this year.
Conversely, other sources ex- pected Increasing pressure on 1.000 11.40 Congress by textile
organisa- tions for an increase in acreage allotments because of the cur-
500 € 20 SAU GÌ 070
10 10
09 70.40
Wheelocks
0.20
6.24
DOCKS, ETC.
1:0
123
14 50 03.30
12.50
11.40
K. Wha.. Dock Provideni
LAND, FTC.
HK Hotel
XD ......
Ik Land
Humphreys
XD Really
100 150 2018-20 1,500 10
300 33.55
8378
1,38 1 375
Ainal. XD 12201325 5,040 @ 1.20
XD
C. Light
mastor-General, told the RUBBER Anglo-Gorman Association Trum tonight that Germany's UTILITIES gold and dollar surplus] Star Ferry might imperil the working Youmais of the free world's trading Byutom. German holdings of gold and $17% dollurs in the last two years ox- 70% ceeded the entire flow of new
fred monetary gold into the world
the same system in 17, perlod, he sold.
Alden Ing. Acy.
Allied Alla Ine,
Allla Chalican
24
Am. Brake Shoe
35
American Airline
Am. Cable & Hudio Corp.
American Cyanand Co.
702;
Am. & Furgn. Power
123
412
35
As Gas & Eletrie Am. Mach. & Fury. American Metal *** Amin tan Sterling Am. Supar Hef American Tel & To
American Tub. Anaconda Copper
London, Mar. 4. The Greck shipping mag- nate, Aristotle Onassis, tonight silenced reports that he was going brokerneur by announcing that he had bought two luxury passenger liners for $6,000,000.
The Boers were the 3,000-ton Greek government ships Achilles and Agamemnon. They were the first passenger ships to be added to the Onusals fleet.
Mr Onassis recently has been cutting down his stair because of the freight market slump, and brokers believed he was in serious financial difficulties.
Mr Onassis said he would run the two passenger ships between Greece and other parts of the Mediterranean to Hink up with services provided by another of his recent purchases Olymple Airways-United Press.
only nine years. It comprises MINISTER ASKS
about one-fifth of the world ull-carrying capacity.
More disturbing than its size I the fact that the larger part of the fleet is nade up of fast, modern ships.
NO CHANGE FOR CANADIAN NAVY
Montreal, Mar. 4.
FOR A BAN
Rome, Mar. 4. Communist Senator Vin- cenzo Zueen asked the Merchant Marine Minis- ter in a Parliamentary question tonight to ban transport of minerals and serap iron on ships older than 20 years.
Senator Zucca's request slem- Conventional vessels willmed from the sinking in the form the backbone of the Atlantic last month of the Italian Royal Canadian Navy forsicamer Bonitas with the loss of
22 ilves
The Bonitos TES some time to
come, but carrying a cargo of manganese. officials are watching de- velopments OIL nuclear powered warships in other countries, a top naval offi- eer said today.
Cummodore B.R Spencer, engineer-in-chief of the RCN, said the Arst nuclear-poweted ships in the Navy probably
Steel
.......
Atina Cons. Miniag Baldwin-funnellain. Ballure & Ohl Beneficial. Finance
Bendix Aviation Cup. Benguel Cuna. Bellfiehen 'Steel Boeing Airplane Borden The
Co.
Burroughs Add Machine
Campbell Soup Co. Canndian Parite it. Care 15. 1. Co. Cat. Tractor Celanere Corp.
Chrysler Motora Cluett Peabody Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Commonwealth Elec. Consolidated. Extimon Continental O4 of Del. Crown Zellerbach Cuban Amez. Sugar Diamond Alke
T. Financial Corp.
Diamond Match Co. Douglas Aircraft Dow Chemicals .... Dupont de Nemours Eastern Airline Kastman Kodak
El Pass National Gan Family Finance Corp. Firestone Tyre & Rubber Ford Motor ... General Electric
General Toota General Meters Gen. Pub. L. Gelty Oll
A
Glidden Co. Goodrich (B. F. Cu. Goodyear Tyru Gult o
Heyden Newport Corp. Honestake Mining Co. Ingersoll Rand
Inland Steel Co... Interchemical Carp....
intl Business Machines ..... International Nickel International Paper Int'l Tel Tei John-Manville Co.
Int Harvester
Kansas C. Power & Light Kennecolt Coppas
Liggett Meyers Tob. Co. Lockheed Aircraft Loews Incorp, Lone Star Cement Co. Lowenstein & Sons. McDonnell Aircraft
Suck Exge.) Merabi Tron Carp, Minnesota Mining Mission Development Monsanto Chemical Co.
Senator Zucca also asked for an increase in penalties for ship which on arrival in Italian ports the port of origin with a larger Montgomery Ward "show clear signs of having left
cargo than permitted."
the
No date was SCL for Minister's reply-United Press.
would be tankers, currying fuel STILL AGROUND
for the present oil-fired fleet,
"I think is not unreasonable
to assume that some type of re-
plenishment vessel propelled by
Singapore, Mar. 4.
Japanese
Tie,898-ton
nuclear power might greatly as freighter Yamamura Maru is cist in enabling conventional still aground off Pulau Bintang fleets
to operate alongside Kijang, an teland near the nuclear fleets without barrassment to either" ho fold cast coast of Central Sumatra.
The ship went aground Jast orinuol meeting of the Thursday, and a salvage tug. Technical Section of the the Golden Cape, is trying to Canadian Shipbuilding and Ship | pull it of. Repairing Association.
Reports reaching the agent in
the
He emphasised that Canada's Singapore today sald the size did not justify large ex-Yamamura's cargo of bauxite penditures on construction of was being unloaded into lighters nuclear-powered warships ati bolore the Gold Capo made present.-United Press,
another allenpt-Reuler.
SHIP
BENOLINE
Motorals fr
National Cash Reg. "A National Dairy Prod. National Lead ...... National Steel Corp. New York Central Norfolk & Western fly, Olin Mathieson ..... Ötla Zievalors Owen-Hinois Glass Oxford Paper Co. Facile da Elec. Pan American Airways Paramount Pictures Parke Davis Co. Tenny J. C. Co. Penn. Salt Co.. Philip Mortie..... Proctor & Gamble Co. Pittsburgh Plate Glass Publicker Industries Pure Oil* Radio Corporation Radio Corp. Pret Republie Blee! Reynolds Metal Beats, Roobuck & Shell Oil Co Bait Rey Paper Ainclair OI
Co.
If this uneven distribution of avaliable quidity persisted, would bring increasing problems 1934 for the traders of the tree world, and threaten expansion of world trade.
4012
4734
4041
731
100%
21
3911 3014
EFFORTS
The United Kingdom admired Germany for her recovery, and her efforts and skill in expand- 49ing her trade, be said.
Det Britain was concerned
that the surplus Germany 39% been
2411
15
10016
2316
4033
50
had by
might, acquiring sterilising liquid resources, in- peril the working of the world's trading system.
"We know
free
you have made and are making great efforts to remedy this position, and I do for one. moment seek to not 200PX minimise these," Mr Maudling
407 saki 4431
rent shortage of good grade col- too.
Open March contracts today were down to 81,000 bales. Spot month trading will end in the noon hour on March 13.
today The certificated stock totalled 23,745 bales, up 120 bales from the Monday posting. Raw collum exports for the scason to date totalled 3,493,194 17.50 17.00 500 17.00 bales vs 4,603,278 bales shipped
to the same last year.
120
96.50
300 Electric XD 20.30 20.00 500 Telephone. 7:30 31.30 STORES, ETC.
17:00 20.60
DALTY .....
17 17.20 1. Стая. 1 18.20
Month
Volume Open interest
Bor.
2,000
$2,000
May
0.700
201.000
July
13.400
$20,000
Oct
20.400
190,000
.
Dee
COTTONS Textiln Nanyang
7,000
111,000
4.00
Mar
8,400
101,300
4.00
May
13,100
113,000
P
July
3500
$3,600
「は
1.500 1.80
10.50
8.20
MISCELLANEOUS HK Cone, (0) Vibro INVESTMENTS Yangtezo
New York Sugar
Market
New York, Mar. 4. World No. 4 sugar futures)
today closed two points higher to two points lower with sales of 230 con:
NEW YORK
Prices of cotton futures closed today as follows:
Petroleum
Byndicate Consolidated Tin Benton
Ord,
Opening
$1.80
Bin id
Framera Heave Lid Ord... 83.04 Fraser & Heavo 19% cum.
Dret Gammena (Malaya) Ltd. Hongkong * Shanghai
Banking Corp, Hongkong Tin Ltd. Kumpas Ltd. Kuala Kampar Tin.... Lunas Rubber Estates Ltd. Malayan Breweries... Now Serandah Rubber Co.
Ltd.
הזיד
14.05
19.30
#440 * 6 34 $1.571
1.00
$3.80
$1.05
$1.75
13.30
Singapore Cold Storage
30.01
31.75
[20
1,23
Petaling Tin Ltd. Rames Hotel
Streite Trading
Straits Steamship United Engineers Ord. Weario Bros.
• exdiv. -- China Mail Special.
LONDON STOCK]
MARKET
London, Mar. 4. 78.000 1,119,700 bales A boomlet hit the stock market today after several works of sagging prices as news of an increase in gold and dolfor reserves and a buying spree by government ponsion trusts lifted most sactions.
Spot, 38. Mag.. 36.24; May, 35.50; July, 35.70-77; Oct., 33.84; Dec. 25.84; Mar., 35.01; May, 33.01;" July 25.04.
NEW ORLEANS Prices of cotton futures closed today as follows:
boosted
hunters Bargain Spot, 3180: Mar. 29.14: May. 13.75: Prices of many industrial issues. July, 3583; Oct. 35.79: Deen 23.90:Hudsons Bay rose nearly 7/*, Mar. 33.81; May, 33.81; July, 35.01, Rolls Royce 3/-, and Unilever
2/-
LIVERPOOL Colton future closings, in
pence per lb, were as follows:
Old contract: Mar/Apr: 21.07; May/June: 2405: July/Aug: 127; Oct/Nov: 25,07; Dec/Jan; 26.10.
New contract: Mar/Apri 20.10. May/June:
1550: July/Aug: 25.08 octov:
Dec/Jan: 20 00: Mar/Apr: 26.90.
tracts. Domestic No. 6 sugar closed to 2 points lower unchanged with sales of 83 contracts.
BAO PAULO Colion filte Boutine dealings commission houses, refiners and cruzeiros per kilo other trade interests featured a follows:
July: 38.30: Qeli 30.30; Doc: world the But it was of the highest im- quiet situation In
unquoted. 2011 parlance for the free world in general that Germany should
2) succeed in these efforts and
soon.-Reuter,
Shorter Hours
Demand
between
biggest
Jan. ZERT.
Indications of fair factory interest in the local spot market and commission house buying. promoted in part by stoodliness of the rubber fasuca on the stock market, imparted a gttadler tone to the terminal trade.
However, about half of the 142 lots were in the form of swilchen including July and November contracts at 15 points. Doolers were on both sides of the exchange.
Other sellore marked time awaiting Indonesian poilical news. In the shipment markot a small tonenge moved, Includ- ing some March/April five sheela out of Indonesin et 21% cents, coat and freight.
Also, some Ave sheets out of Tholland at 23 cents and three shoots from the coma source et 234 cents a pound. Factory and dealer buying in the delivered market involved some April four sheels at 24 cents a pound, ex- dock. Spot No. 1 Ram was quoted at 23 cents.
BINGAPORE The market opened lower in uversens advices and steadied during the morning
on short covering and reserve of sellers with further anxiety over Indo-
ocla.
During was come profit-taking and the market closed unchanged from the previous levels.
Futures: No. 1 rubber per ib. Mar, jp5-2016
Apr. 1511-77 No. 2 rubber per 1u. Mar. 78-7534 No. 3 Koi
the afternoon there
spot rubber unhaled ..... Blanket crepe.... No. 1 pala crepe
60-87 7015-7076
64.00 79-81
LONDON'
Olls enjoyed the gainers. Royal Dutch rose 10/- The rubber market was quiet while most other leading issues with spot quoted at 22-7/10 advanced between 3 and 4 shil- | pence per lb. Prices: lings.
No. 1 Ras spot.
Bellamett house term:
Long-term governments rose Aps! 1/10th on the strength of pen-Juña sion fund buying.
May
April/June
closings, were
in
July/Sept,
ક
Foreign bonds were mostly unchanged and quiet,
Oct./Dec.
Jan./Ziar.
March
General markets, cll basis,
Aprti May
contract. Most sources marked in the United States, the time awaiting raw market de-average price of one-inch cotton velopments.
at 14 designated spot markets The International Cooperation was 34.31 cents,
Total sales were 10,789 bales, Administration today authorised Vietnam to buy $1,000,000 of United Press raw, or refined, sugar on
the
world market under the Loreign New York Metal
Bld programme. Delivery must be made by Sept. 30,
The contracting period runs through June 30.
Futures
New York, Mar. 4.
New York, Mar. 4. The powerful United Elec-
Prices of metal futures closed 634 trical Workers Union sald over Contract No. 4 (world): May. 337;
the week-end it would demand July. 337, Sept.. 397; Brand 334 today in ceata per lb. as follows: May, 31 Spot-cents per . cob shorter working week, with Cuba), 137. the same pay "to achieve greater.
12
301
Opsa Interest: 5,438 contraCTIE,
job security for its members at Curiga No. (domestic): May,
6.55 July. 6.05: Sept. 8.00: Nav.,
a Uime of alarmingly widespread 8.71 spot-rents per ib. cf NY unemployment."
The Union pild
68
73% would
za
the demand
be foremost in their negotiations this week with the
582 General Electric Company, Westinghouse Corporation" and
79
aoit
the Sylvania Company-three of America's tending
electrical
manufacturers. - China Moll
331 Special.
12
(Am.
Hocopy Mobilall South Puerto Rico Sugar Houthem Co. (TNO) Southern National Go
Southern Railway (Com.) Standard Brands
Standard Olf of Cal
Standard Ol of
Standerd OU ыf NJ, Steep Rock (Toronto Migge.) Sterling Drug Co. ******* Atokely-Van Carp. **
Studebaker-Packard. Corp),
Bunshine Thining ...
dwin Co.
Textron Ino
Tios Wafat AEK, DEL HERRIAK
Twentieth Cwakacy Food fair
London Foreign Exchange
London, Mor, 4.
2.81-7/10-2.8115
DOL Closing rates were; 515xd New York
13%
Montreal Amsterdama 37 Truscia
Copenhagen
85 Milan 2016 Party
Blockholm
Others unchanged.
144 Vienia 33 Zurich
no nale
2.709-2.763%
10.624-10.024
1300-130.25
10.3531-19.30
3748-374836
116312-1024
13.05-12.00 12.00-12.201
New York exchange
rates
were unavaliable. United Press.
London Silver
Prices
London, Mar. 4. The
price of silver WOS quoted at 70% pence for spot and 70 pence for forward, United Press.
Exchange Rates
Duelnom war dohe in the iopsi marketile
43) || morning at the following rabam:
Australian noted" (per #1} 16ndoran rupiahs (per 106)
#iam lica) (per 100) 23 | Singapore (Blimita)
ex-duty), B40.
Open interrat:
United PreRS,
1,501 contracts.--
Dollar stocka closed slightly higher while the premium im- proved fractionally to 5% per cent.-United Pres
London Metal
Prices
London, Mar; 4. Prices of metals closed today In sterling per long ton follows:
13
Fatale crepe this March..
AMSTERDAM
2216-2211
The rubber market was very quiet. Prices cloped in guilders per kilo, elf March as follows: No. 1 rubber No. 2 rubber
No. 3 rubber
No. 1 crepe
2.10 nom.
Ke
United Press.
NAMESAKES
Answers-1 Solution, 2 Chase,
Detective, 4 Murder, &
Buyers Sellers
Lend
March
11.400
Tin Apot
231
181
Miny
11.4Gb
3-mondi
734
3
Zihe
MATCH
8.43b
May
1,35
Copper spot
3-month
137
1044
2014
Elementary, 6 Robbery. 7 Clues,
Copper March
21.99
Lead at half Mar.
7412
|
Baker, 0 Hound, 10 Watson, 11
May
21.09
Tin
March
93.50%
Lend fut half June Zinc 1st half Mar.
May
93.00b
United PreES.
-United Prese,
Zine iwi half June
146 Violin, 12 Methods, 13 Poller, 14
Mystery.
Sherlock Holmes.
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