C
TRANSPORTATION
AIRLINER TAKES
OFF VERTICALLY
London, Apr, 16.
ORDERS FROM BRITISH YARDS
London, Apr. 22.
THE world's first verticalTHE shipbuilding con-
take-off
airliner has
ference issued figures successfully achieved tran- here today which showed sition from helicopter to that 39 new merchant ships conventional flight, the of 41.000 grows tens Fairey Aviation Company ordered from British yards announced tonight.
In the first quarter of this
During tests the alteraft year. climbed to neveral thousand feel
were
This brought the total of orders booked in the 12
as a helicopter, then the power how
to the rotor was closed downths ended March 31 to 207
on
to forward- ships of 1,120,000 gross ions.
The total British order book ixed propellors
then comprised 765 ships of 6,331,000 tons,
and transleitud foeing
stubby wings.
New forward The Rotodyne **0 straight, level and stendy
axed flight as a conventional wing aircraft, with the rotor free-wheeling," ment added.
SPEED
the
aanotince-
Twenty per cent of the totul order book was foreign work--- but no contracts for foreign account were booked during the Arst quarter of this year. CANCELLED
of British The conference shipbuilders revealed that 14 designed to ships of 183,000 gross tons were The Rotodyne,
dia-cancelled during the quarter- carry 48 passengers
orders und eight tances of up to 400 miles, has six foreign a cruising speed of 100 miles,per British. hour.
Two
over
driven by propellors turbo-prop engines are used to the forward speed and the rotor terves both for vertical take-off and as an auto gyru rotor for Hft while cruising.
doubt
Is added: "If adverse trading conditions continue, no further contraels will be cun- celled and intended orders de- ferred, but it is
The altcraft will cost between 250,000 and 330,000 sterling-present more than a conventiond air Iner of similar capacity.
THE CHINA MAIL, WEDNESDAY, APRIL 23, 1958.
TRADE and
Int'l Tin
Tin Council Statistics
London, Apr. 22.
Statistics of the International Tin Council show that production of tin-in-concentrates in the Belgian Congo rose slightly to 1,009 tons in December and again to 1,081 tons in January although both figures were below the 1957 monthly average.
LONDON STOCK
MARKET
more
}
Production in Nigeria during January fell to 650 tons and in Bolivia to 2.080 tons.
COMMERCE SECTION
HONGKONG
STOCK EXCHANGE
Our Own Correspondent Business done on the Hongkong
Stock Exchange this morning smounted lo approximately $990,000. Ncon quotations and the morning's transactions were:
Shares
Buyers Bellets. DANKS IIK Dank.. 762.50
INSURANCES Union
SHIPPING Whenuska
...... 71.50
Sales
The New York & China
Stock
Market
New York, Apr. 22.
Stocks déclined slightly today after a series of gains had lifted rails to a new high for the year and utilities a now top since October 4, 1930.
Crown Zollerbach
Steels ruled steady to firm with the exception of Youngstown Sheet & Tube which turned soft near closing time. The motors lost a trifle except American which firmed to a new top. Amerada met selling in the ↑ Consolidated Eliann oils and fell points, but others Continentul Oit of Del. 720 2070 of the Froup showed but little
Culran Amer, Sugar moved change. Coppers
Diamond Alkol Diamond Match Co. regularly. Kennecott fell while American Smelung Armed des- pite a drop in earnings. Utilica were mixed with consolidated Edison a strong spot. Ralls cared, Prime interest retes were cut by many leading banks today 17.00 after some cuts late yesterday.
1.03
603 5.10 1,000 + 0.10 DOCKS, ETC. K. Wharf XD
110 203
100 @ 109 241 Dock
vent (D) 1140 11.30 7,000 11.40 LAND. ETC
Production of Un metal in Malaya after rising in Janudry to 0.678 tons fell to 4,215 toria in February. In the Belgian Congo there was E fall In from the January of 177 tons London, Apr. 22.
December level of 231 tons. Stock markets had an un-
Exports of tin-in-concentrates with settled day
fell Delgian Congo from the small fall then small
back to 80% tons in January after the high December Agutek Hotel 17.00 17.3 3.759 gains.
from! Expocis of 2,101 tons. Nigeria in February also show- ed a full to 341 tons, January'";
from Indonesin were exports only 907 togs against 2,712 in December.
heres Several steel
rose between 1 and 2 shillings, presumably on short covering since there is no strong invest ment demand these days
alco displayed Engineerings come gains of a shilling. Rolls- Royco fell a shilling on its solitary appearance on the tape, Bewaters Paper rose smartly 1/9. There was again demand of the Ritz Hotel, for shares
or low
RISE
Italy's imponta in December
AIR Land
2.000
17.
Ir-
Daugine Aircraft
Dow Chemicals
Dupont de Nemours Eastern Airline
Farman Kodak
F Paso National Gas Family Finance Corp. Firestone Tyre & Rubber
Ford Motor
General Electrte
General Foods General Mətarı
Gen. Pub, Dui
idden Ca
Goodrich (F.) Co.
General Mills ran up more GOO 2,000 17.00 than 2 points to a new top. 5,063 Homestrke Mining gained one 31.50 32.75 1.000 3224
Coming in the gold, Owens 4,000 what'
Fibreglass rade cre-pobit gan Olla held in a 1,000 321 in its section.
3-322
borrow range, Italls showed Heyden Newport Comp Elcartaks Mining Cả only a sight c ange on average. Ingersoll-land
ال و القاب والله
1440 14.00
Fully BUDBER AUTHO
1.30 1375 10,000 ve 1.35 10,000 133
Thet'
A. Tawab.. UTILITIES 'Tram
1.173
7.03
23.00 24.10 10
3,033 120
10,000 s; 129
13.58
Electric
30.40 0.60
thi United Stairs imports of
after dropping to 2,335 metal
In December ruse again tons in January to 2,000 tons, Den- up another 4/-, be remem-
Olls wene Irregular. Royal mark's unports of tin metal foll to 300 tons In February and % but the kered that generally the British
Dutch improved Gider hook enntains a wide range
In the soine of types of ships.
others were down by a shilling French Imports
month fell back to 720 tona Star Ferry "Cancellations live up to the
high Yournal! from the abnormally been much more Clls were quiet but several gure of 2,930 tons in January, C. Light...
of them showed rises of £1/16 taunerous In some shipbuilding
or War Loan gained £1/16. countries overseas engaged al-
a were also high at 430 tons and Continent barged in with most exclusively in export work In the form of cigo ships and strong demand" German fell back in January to 148 bonds ifting the non-assented tens. Imports into the Nether- Young Loan and both the non-lands in February were 845 assunted Potash Loans £1. The tons-much the same Young Loan assented rose £. January-and the United King- Dawes Loan, bath assented and dom figure for February of also not much non-assented, rose £142,495 tong was the Japanese 1st the Tokyo 5 above the January level.
Consumption of primary per cents rose £1, both assented
in the Uniter! and non-asserted, while the metal 1930's, both asscated and non- States in January to 3.959 tons low December from the very assented, fell C
level of 3,310 tons.
Production of the Roladyne will begin as soon as the Fairey ukers."-tetuer. Company start to receier ordern, and it is expected that the aircraft will be in use by 1081,
a spokesman said.
Inquiries had been Aurelved from airline
SEAMEN GET
operators in the MORE COMFORT
United States, Canada, South Amerlen and the Far East. - China Mail Special.
WORLD TONNAGE OF SHIPPING
London.
OZONE
London, Apr. 22. ZONE generating sets are fitted in the galley and other parts of the cargo ner Shiftesbury, latest addition to the Alexander Shipping Co's fleet.
coin-
Shipowners today are peting with each other in pre- viding top-level living accom- modation for their crews
Tankers have set
the
pucc.
THE significant... postwar THE
development in total world. tonnage of shipping In the Norwegian-owned Vesi- was nowhere near malcher fann, now being completed
Belfast,
accommodation
crew
in
by any increase in Britain, will be air-conditioned through- a trades union ̈chlof “said; out. this week.
OWN CABINS
crew.
All crew members of the new —Mr Tom Yates, general-secre- Stelt wanker Hatta have their tury of the National Union of own cabins. There is a smoke- Seamen, said in his annual re- room for getty afcers and ม port "Once we had half the large recreation roum for the world's ship today, we have 28 per cent.
Both the captain and chief have suites-dayroom, "In a world of growing nu-engineer
countries be-bedroom and bathroom-London tionalism with
Industrialised Exprom Servies. is perhaps not
coming rapidly
such a trond
totally unexpected."
- Discussing the question or FRENCH SHIPS
flags of convenience, Mr Yates
said shipowners were agreeing LEAD IN-SAIGON
more readily that action should De taken to deal with "the ever- increasing ammait of merchant shipping registered in Panama, And Costa Iberia, Hondures Rica."
The government, in partner ship with the industry, musi find an adequate solution to the problems-cuter.
FORECAST US
Defence Serretury "In Neil McElroy: the Space Age, men will be
Paris, Apr. 22. RENCH ships led ali
REChip in Saigon
port trame for March, 1958, nccording to figures leased here yesterday.
During that period, a total of
113 ships entered the port In-
cluding 34 from France and 11
for
ruther Dollar stocks were higher though their
premium was unchanged at 4% per cent
Unlied Press,
New York Sugar Market
Now York, Apr. 22. World No. 4 sugar futuros today closed unchanged ~to~~thrappolats – higher
with sales of 279 con-1 tracts. *
Louiesile No. & sugar futures
closed 2 points higher to 1 point lower with sales of 88 contracts.
World contracts were rela- vely quiet with traders await- ing some new incentives,
The domestic contract held steady. A fair demand for rows should
prospect
rose
ST
in Telephone
codyear Tyre
Culf o
Taterchemical Corp.
During the session new highs Inland Steel Co. appeared in Adderssograph which | ! Business Macanes at its high was up 13 points.Int'l Harvester.... American Can. Amalgamated International Nickel International Paper Leather preferred LID tive,
Int'l Tel & Tel. Home Products. John-Manville Co..... American American Motors which led in Kansas G. Power & Light
ecott Copper turnover Associaled Dry Goods,
Liggett Meyers Tou. Co. Cessna Aircraft. General Molors,
Lekhoed Altcraft 200 17. | Gull 01), Heinz Raytheon, 100 17.50 Pazer, Reynolds Tobacco, Stand- 100 1150 1,000 24 17.00 End Oil (Ind.), Texas Co., and
463 1 24.72 Woolworth.
500 20
2004-10
200 20.09 Trading was at a moderata with volume totalling 1,000 1,000 28 30 pace. 1.500 2.00 2,440,000 shares, compared with 20.20 20.40 1,000 20.40 | 2,550,000 on Monday.
2,000 er 2050
1,000.40 On the American Stock Ex- change sales slipped to 880,000 shares from 700,000 shares traded yesterday.
dewr Incorp,
Lone Star Canoni Lowenstein & Son't, Mehananți Atterati iam.
Stock Exge.)
Mesabi Iron
Minicole Mining
Montants Chogical Co. Manlionery Ward Mottuvia Inc.
- National Cash Re: "A""
National Dairy Prod. National Lead
Sew York Central
Olin Mathieson Oils Flevalnes Owen-nots Glass
Oxford Paper Co.
IK
Gas Co.
London, Apr. 22. TJONGKONG and China
HG Company an
nounces
that the wel profit after taxation etc. for the vedr 1957 is HK$1,88:1.224 against $1,814,092.
The dividend already announced absorbs. $1, 279,680 against $1.279.- 38 previously. -- China Mail Special.
NEW YORK • .
RUBBER MARKET
New York, Apr. 22. Rex rubber futures today closed 20 to 25 points lower with sales of 79
72%
contracts.
1121
May
July
301
Sept.
15.
Nov.
78%
Jan.
3817
Mar:
340
Atay
212
20.45
70.43
20.53
28.20
20,10
24.15
Prices eased with the London market where Russian buylig
was reported less in evidence. Local business was mostly be- Livéen dealers, including ex- changes of 18 July contracts in one block for physical rubber, Domestic factory buying in- terest showed a noticeable im- provement today at the lower prlees. Spot Nò... | Rs. quoted at 28 ceals nominal.
In the shipment market, re- ported sales included one sheets at 25% cents and four sheets at 224 cents a peund, both done est out of Java,." April/May, cost 15% and freight.
30%
23
INDUSTRIALS ADEN Can 37 STORES, ETC. Dalty XD 10.20 10.30
1,700 1830
500107)
10.50
19.40
Bond volume today rose
fron 30000 $8,210,000 yesterday.
to
51
$5,180,000
00
30
Foce la Elec.
5160
T'an American Airways Parmount Pictures
Co.
149
1
ZATA
#15
were!
W
1.35 4.40 2,000 @ $.50
to industrial
49
alilies
40
bols
Comm. future price index..
Waliam....
** Kwong 5. X. LOTTONS Tostle 14 4.35 4.80 Stocks of tan metal with
Nanyang conuen-in-the United States. VESTMENTS fell from 20,750 tons in Decem- ber (revised Agure. by the In- ternational Tin Council) to 10,310 tons in January.Reu- ter.
New
Aierd
Sungela
1.70
2,000 4.45 3.000 4.40
.000 4.373 0.0004376 2,000 1.75
201 C. Mac. (Ord.)
York Cotton Market
New York, Apr; 22.
Dow-Jones etcsing averages
20 a
FA
1.1 *Locks
Closing Prices
Alden_inc. Acx--
Alled Chemilgala
Allied Mills Ine.
All Chalmers
Am.. Brake Shoe American Albic American Cable & Radiu
Comp N American-Cynsonid Ca.. Amer. & Forg, Power Am. Gas & Electric Ain. Mach. & Fay.
Metal
Cotton futures today strengthened after a falter-American Sulting
American To & Pa Ainerin Tob. "3"
The Auge. Her
with Amanda Cupper
ing start in sporadically active dealings. far-forward deliveries led the recovery the October 1959 contract penetrating the Atlas Cons. Mining 351⁄2 cent level to set a new seasonal high.
oppear in
Firmness was coupled with July/Aug: 20.25; Oct/Nov; 20.63; during the coming weeks before
Dec/Jan: 20.09: Mar/Apr: 27.29. several factors. First, an un- the seasonal Increase in confavourable government weekly
SAO PAULO sumption of refined.
highlighting summary,
Cotton future closings, in
Contract No. 4 (world): May: 9.40; Crop Jay: 341-40: Sept 343: Oel: 337 complaints of delayed hund pre- cruzelyas per kilo were as fol- Mari 346: May 37: 320
37: parations, seeding and cultivalows: Spal, teents per 1b rob
_ton_in_mány sections because ut
and damp
cool
July: 41.00: Oct: 42.70: Deel 43: "Mar;" wquoted,-
Armour AKUTAN
Baldwin-Linn-im. Baltimore & Oblo Benefient Finance
endix Aviation Corp. Benguet Cons
Bethlehem Steel Foeing Airplane Borden (The). Co.
Burgles Aud Machine Campbell Roup Co. Canadian Pacine D. Care (d. 1.) Co.
Cat. Tractus Open interest; 8,335 vinfidëtt, Contact No. (domestic); July: | persistently
In the United States, the elanese Corp.
C. I. T. Financial Corp. 5.17: Sept: 2.79: Nov: 5.70: Spot weather,
overage price of one-inch cottat | Chase Bruhat, flank Treats per lb. of Ny ex-duty): 5.73.
Other factors included. cx- at 14 designated spot markets | Chrysler Motors Open interest: 2,013 contracts,
Cheft Peabody pectations for a higher govern-Iwas not available. Untied Press,
Colgate-Palmolive Co.
nient loan and prospects that ani Total sales at these 13 ma-¦ Colombian Carbon Co. export subsidy, in kind, it on-kets were 31,040 bales. Unitud | Commercial Credi
down the Press. nounced, would cul
Commonwealth Fire.
New York Foreign up of ton bvailable from
Exchange
New York, Apr. 22.
from Japan while 33 French Closing rules were: ships left. the harbour compared Canada with Japan's 14.
1.03
201 11/16 2.60 11/16 225) 2.00 11/10 Others unchanged-United Press.
England oficiai
30-day
BRITAIN
Australla
Second and fourth were Bri- Lain
the (ale and 12) and United States (10 each way).
Total outgoing ships number.
New Zealand
able to go round the worlded 121 during the same period,
in two hours.
The ships brought in a total of 139,973 tons of goods and
out a combined lons.-France-Presse,
"One for flying. The other for 100k getting to the airport."
101,582
All by own invention. I call is the stairbus. No need to bring the aircraft. right up to the termijal building. Take ilie pusteigers, and the light luggage ...airgigoroth to her and let 'em step aboard în comfort. Bual purpose - does the Hown town can ba well. Specially good for jêts, I reckon. Now if those de Hattivand people had drie ounce of gumpston
gouth Africa
ZUJE
London Foreign Exchange
London, Apr. 22. Closing rates were: New York Montireal
Amsterdam Drools Milan
I'arly Stockholin
Vienna Zurich
2.01-9/10-2.8156 2.72-15/10-2.75-1/15 10.591-10,00}} 139,45-139,00
174422-3745
117016-117094 14.50%-14.50%
71.60-73.63 12.2334-12-24
Others unchanged.--United Prem,
London Metal
Prices
London, Apr, 22.
Prices of metats closed today,
in storting per long ton an fol
Buyers Bellors
73014- 731 73*
the new crop,
Evening-up operations In the May delivery before drat notice day on Thursday commanded nearby attention. Since most of the cerlineated stock, amounting to 23,293 bales, Is owned by spot interests, traders expected tow, if any. initial tenders on contracts.
Franco received two cotton purchase authorisations today, with a sum sufficient to cover the purchase of about 24,000 bales.
Liverpool cutton futures closed up 1 to off 6 English points, piki 501 to 500 American points under New York futures.
Closing within a allai margin of the day's best levels the st ruled unchanged to 18 paints higher at the final gong. The market opened of 1 to 0 points. New Orice closed 3 to 19 points higher.
Чобиль Open interesi
Month
MAY
11.400
$8,000
July
8,000
102 400
Oct.
11.200
220,700
Doc..
7,300
127,000
7,000
161,830
May
143,500
July
93,500
| Oct.
7/200
Total
M
25,200 1.02700 bales NEW YORK
Prices of cotton futures closed
today. as follows:
Spot: 19.05; day: 35.84: July: 30.20; Oct: 36.00; Dee: 37.25; Mar: 31.10 MAY: 37.17: July: 30.61; Oct;
1741 1751% 0.00
lows:
Tin, spot
3-inpath
Copper spot
3-minut
17031
Lead 2nd half
April
TX31
7.36
July
April
Zine and h
July
NEW ORLEANS
Prices of cotton futures closed today as follows:
Epot! 34.03 May: 35.86 July 0231 #30.0: Oct; 21.70: Dec: 30:07: Mar: 457.20 May; 77:20; July: 28.63; Oct:
LIVERPOOL
United Prem.
Agreed Merchant Rates West German Dentichondrick Maximum Selling V1 1/10.
Cotton future closings, in
ponce par lb: wane na follows
American Contrast: May/rtnet. Pay/Aug 30 Oct/Nov *43 Dac/££1117 16.13| Ader/Apr: 30.71: kixed Contrect: May/June1-20.03:
l l l l l l l l l l l l
Parke Davis Co. Penny 3
440.00 Penn. Salt Co. 1974 Philip Morris
76.43 'teter & Gamble Co. 165.64 Pittsburgh Flute Glas
R9.56 Publieker Industrice
Pure O............ 100.37
Radio Corpuration
Radio Corp. Pre
Standard-00-e!•NJy
SINGAPORE
The market opened slightly lower and ruled quiet with some stall interest in lower grudes,
Lowering of nearby continued ond premium of up is 2 cents was paid. Futures:
2015 No. 1 rubber per lb. May 17%
June GotEnd No. 2 rubber per lb May T-
75% No.
The rubber market was easier. with spot down 36, to 23% pence. Price
No. 1 Ras spot
Bettlement house term:
Max
June..
2914-233
་་
H
Nr. 4
30
Bpán, ruüber unbaled
70
30% Bankit arepa
NU. 1 pale rede,..........
011-03 #1-82
Elepublic Steel
4616
LONDON
Navnelis, Meta!
#209%
Sears, Roebuck & Co.
28 P
2237
Shell 011 Co
749
Saint Reg. Paper
Sinclair UA
63
Bocany MobЛiou
163 Solar. Alioraft pr
1014
4)
South Puerto Rico SuguT Southern Co. (Thel
20%
July/9rpt.
Southern National Use.....
· Oct. Déc.
199
433
Southern Лailway (Com)-;; Standard Brands
3715-
Genctal markets;
33, Standard Oil of Cul.
4971
April
20
Standard Ol of Ind.
Kay
Juna
Stoep Hock (Toronto Exge.)
1709 | Sterling Drug Co.
งาน
Estate crepe thin May
Stokely-Van Camp. Studebaker-1ckard Corp.
1232
Swift & Co,
114
6454
Textron Inc
22 Tide Water Asm. Ou
No. 1 rubber
1
Tire Ina.............
Twentieth Century Fox Film
201
No. 2 rubber
Union Carbide
No. 3 rubber
Vajon Oli of Cal,
45
NO. I CEDO
Union Preiße Railway
United Fres
20%
United Alreraft
2016
28
-324
פרי
142 Runahina Mung
Техая Со
40'
United Gay Corp.
7434 11.8. Foll "1!" 10%, US. Gypsum 121 S Line C. 13US. Hubber 40% U.S. Finelting 40% 13. Bloel ... 4316 || Warner Bros.
50%
thick May.. AMSTERDAM
The rubber market was easy. Prices closed today in gulliders
per kilogram, cif May as fol-- lows:
2.50 done
2.14 buyers
203 Duyur Iza buyer
Exchange Rates
· Denitrog—way dene-in-1}~~105)
314 unofilcini
Vzr
morning at the following fateti T'S dollar per 811
Sterling noter iper £11
17% Autralian notes (per £3
10
Bay
thie
1
16 02
4412
Indonesien rusial (per 100) Sium leat (per 100)
United Frem
100
Westinghouse Electrle Wokjern Union Tel. Co, West Va. Pulp & Paper 52% Woolworth
Fingapore (Strifer
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BANGKOK
TO
MADRID
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TWA
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