THE CHINA MAIL,
WEDNESDAY, MAY 7, 1958.
RANSPORTATION
RUSSIANS WANT
LLOYD'S "100AI”
THE Iron
London, May 0.
Curtain
Russia which stopped, co- operating with the Register More thon 25 years ago, has asked if she cun come to working arrangement with 11.
CLYDEBANK SMILES
WITH RELIEF
TRADE
and COMMERCE
The New York
Stock Market
New York, May 6.
Automobile shares got into action in the late trad-
ing on the stock market to add new zest to a list ploughing into the high territory. Trading Increased all round Musante Chemical Co. with volume running around Montgomery Ward.. the three-million-share mark.
Motorola Inc. National Con National Dairy Prod. Hutional Lead ...
Clydebank, May 6. FAMILIES in this Clyde- countries are once more} L' side shipyard town- seeking the hall-mark of a birthplace of the Atlantic top-rating in Lloyd's Regis- gianta Queen Elizabeth and ter of Shipping.
Mary-smiled with Queen relief on learning that their Demand for the motors sent livelihood is unlikely to be Chrysler up more than a point. National Steel (6)
New York Central the postpone Ford
General Motors sel new high.
Ol Mathlevors.... affected by
Alrengthened.
Americano Elevatore ment of an order for a new Motors was active and steady. A
Cunarder.
Elsewhere, several other blue Tho Cunard Line had on- chips rose to carry the industrial nounced that because
"O of average to a new high for the fortunes" setback in Únancial
yeur, General Electric the
would company
Electric delay Wealinghouse building the
strong in the Inte trading, new nige million Intended for
up more than a point. sterling alip Atlantic service.
Internations Paper led
Oils strengthen- ed under the jood of Arge
It is believed that she works to build and export ships that would carry the symbol -100A1 at Lloyd's, the top-grade mack of quailly.
Mr Kenneth R. Pelly, the Register's chalinan, sold re- tently: "We have told them we will en-operate with them clazaitention under certain con-
Unions."
INSPECTIONS
Bush would probably have to open her steelworks for Intpre- flun by Lloyd's surveyors.
Poland too has rome back into the fold. Four Lloyd's surveyors hit again established there to pass products of 14 sleetworks and three shipyards.
But Lloyd's surveyors still ince dificulties in many parts of the world.
Mr Pelly says in his manual report: "On the one hand, w, a non-politlent body, meet with obstruction
politieal from matives, and on the other we And that few, if any, want 10 dispense with our services."
Lloyd's
1
the
EL
ぎゅ
301%
33
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
this
Business done on the Hang-
Stock kong
Exchange
ximately $705.000. Noon quota-
SECTION
ONLY RATIONING & CUTS THE TIN
IN IMPORTS
CAN SAVE FRANCE
Paris, May 6. Immediate rationing and cuts in Imports can alone save France from a slump in 1959, according to an expert report published here today.
en morning amounted to appro- Written by Finance Ministry officials, it was sub-
441%2
tions and the morning's Trans-
actions were:
041
434
Sharet Buyers Sellers
Suler
BANKS
317
HR Dank
715
785
East Anla
200
Pan American Airways tainting Pictures
1352
INSURANCES
Owen-Illinois Glass Oxford Paper Cu. Pacific Cian & Elec.
Parko Doyle Co. and
Penny J. C. Co. were | Penn, Balt Cu.
earh | Pinup Morris
Radiroad shares chugged ahead
The statement, coming of time when many economists fearretan bigher. an Impending world depression, brought back to Clydebankt gerlin memories of the slump of Vie nineteen thirties,
For a sanilor kind of 431- nouncement then halted work } for three years on the Queen Mary and brought long im- employment and near starvatious to the skilled craftsmen of this town. SETBACK
The
some
shipyard. John Brown and Company, is affected by the new Cunard setbach, Bul officials have made it clear that this time it will not mean the same hardship.
The firm bes orders in hund for
mount of a considerable unnoge. and postponement the Cunarder will make little er no difference to employment, Sir James McNeill, deputy now has 1,000 sur-chairman et John Browns, said veyors at work throughout the recently: "We have plenty of
work to keep us going," world, against a pre-war 350.
At home,
I is expected the yard will Lloyd's engineers now
sooner than start work
are helping not only in the planned na a 38,000-ton ship for
bullding
wer
British
of four new sturnic the South African mail service slations, but ure co-luf the operating in the planning of the first nuclear merchant ship.
AIRLINER GOES
DOOR-TO-DOOR
London, May 6.
ĮRITAIN'S Fairey Roto-
Commonwealth Shipping Company, Limited.
This vessel was to have bren built after the Curder, ́ but shipping circles believe that the switch-round can be convenient- ly achieved with little interrup-
lu Lion
Mail .output.-China Special.
HELICOPTER FOR
Bdyme, the world's first BRUSSELS FAIR
vertleid take-off airliner,
has fulfilled
dreams.
its
makers*
A
has successfully achieved tration from holleopter PIS conventional propeller fight, it was announced,
g
Peveter & Gamble Co. Pataburgh Plate Ginsat Publicker Industries
Lombard...
SHIPPING Waterbbat
30
vicent, 70) 11.50 11.70
1991 י: 2103
10:30
Wherlocks
DOCKS, ETC
મા
$12
K. Wharf
10
Dock .......
05 6.10 1.00005
102 W
14
722
34
13
7412
Republic Birel
43
Reynolds Metal Seam. Roebuck & Co. Shell Oil Co.... Saint Reg. Pader Sicfade Out
4012
2046
7.23%
are (311 Halla Corporation Rudle Corp. Prof.
Sucony Mobil
in the list half hour except Pittsburgh
West Virginia 22 which united its dividend.
Several other aircrafts run up more than a polat. Siupbuild-Solar Aircraft
had wire gains, South Puerto Rico Sugar ing istues
Southern Co. (The) Numerous specials, drugs, to-
Southern National Gos bares and met:ds improved.
Southern Railway (Com.J Or a total 1,171 Issies traded, Standard Bandz 583 were higher, 328 tower.
ork Stock Exchange New volume was 3,110,000 shares.
New Yor: Stock Exchangerfinst Drug Co. bond volume was $4,780,000.
American Slock Exchange Sunsha Min
Swell & Co. volume was 870,000 shares,
Texan Lo Dow-Jone
were:
Industriat
20 rails
ja trilles
$4
ent
40 bunda ....
Sukely Vai Camo. Studalaker-Thekant Corp.
closing averages Textion the.
The Water An O
LAND, ETC.
IK Hotel 10.00 10 25319.30
500 10.00!
K
COUNCIL'S DECISION
London, May 6."
The International Tin Coun
cil's decision to extend the 40 per cent restriction on exports until the end of September should life prices from the £730 per ton floor before long, tho Financial Times suld to- day.
This should relieve pressure
on the buffer stock manager to
mitted to the committee for public accounts, an influential advisory group of financial ex- perts, headed by the former Prime Minister, support the market at the level but, If this does not happen, M. Pierre Mendes France.
whole scheme could" be the heading for "a serious criais," it
NEW YORK RUBBER MARKET
New York, May 6.
160 Land.. 3223 3225 2203 – 1950 Rex rubber futures today closed 50 to 60 points lower with sales
traditional sald.
Fongoing the cautious language of offeiul re- ports the experts suld that France faced a clear choice; she must restrict consumption or Luifer unemployment.
"Brital has In this field riven
example," us an
write.
iley
The report shows that France
Ex-
On purely statistical ground rise in tin prices would seem long overdue but "a number of factors have been at special work.”
"Behind everything has been
that Hngering fear
the States recession, to-
exporta
ta
0
In at present Uving on foreign United loans. She insports too much, gether with exports too Iltile an finances from countries not members of the tap by drawing on her the agreement, could still bring the scheme into grove danger of 12 slender borrowed foreign
chalige reserves which are run. 1. What Is wanted now in
in demand which could nine at a rate of over 50 mil-rise lion dollars a month.
push prices up,
sharply, Tho United States will piny a major part here but a reluxation In economic Kingdom the United in polley could also be a boon to die buffer stock manager" the Financial Times sald.--United Press,
1990 90 G. XD 17.00 17.90 2339 ** 17 on
203 11.00
lower London-Shgapore market M27 : ก The discouragingly 2.500 8.00 domestic consumer demand.
20) 27
słow
in
contrast with signs alackening production and employment In
of un-
most of world, French dustrial output is running at a rate of nine per cent above last year.
1,000
Humphreys
15A)
1.000 15.201
x2.009
1330
20-34
Heully RUBBER Amalk.
1.525
1.39
1723 1375 20,053
contracts,
195
25,000 +0 1.33
24.53
5314
Tra
1.20
July
2139
Standard Oil of Cali Skndard Out Ind. Sundard Oil of NJ, Sleep Rock (Tornio Exge.)
Bad
A. Tuwal
1.85
Kept
2683
423xd
UTO.ITIES
New.
2075
331
Tram
24.20 240 4,920 24.0
Jan.
NO 1.40
Mar.
western HOND
30!
124
Bior Ferry, Yatimati
111
113
Mar
422
Prices weakened with
2170
tie
Electric
1
bul
Telephone 2340 23.03 2014 INDUSTRIALS
100
300
23.5 29.50 !
Cement
toli
22:30 STORES, ETC. 492. Dalry ......
14.20 10.30
1,000 20 1999 2500 24 1933
31
270
779 Watson
10,50 10 80
301
L. Crow,
33
COTTONS
81x
Textle
15
Nanyung
591
1024
Vibro
11!
INVESTMENTS
| West Va. Pulp & Paper
Woolworth
3521
... 4.35
14.40
523
4421
Allied
4.43
--United Preis, Surzaln
1.70
103.67 Tune Ine
113.70 Twentieth Century Fox Firm
17.58 Union Carbide ......
180. Unten Ou or
Cal.
90.11 Union Pacific Railway
Cundit, falne price index 155.30 15alter Airera
Closing Prices
Alden Inc. Aey.
Allied Mijis ine.
Al ChemİKİN
Allis Chalmers Am. Brake Span American Airluc American Cable &
torn.
American Byaaanud Co. Amer. Plin. Power
Am. G. & Electri Am. Mach. & Fidry. Aineries Metal Amerleon Smelling Am. Bugar Nel. Americas Tal & TH American Tab, "B" Anacrida Copper Annco Steel
Armour ........ Atias Cons. Mining Baldwins-3 dna-Hami. Baltimore & Ohio Benedicto) Finance_
Bendix Aviation Corp. Benguet Cons. Bethlehem Steel Being Airplane WESTLAND WID. Borden The Co
Burroughs Add Machin GEON helicopter, of the Campbell Soup Co. Canadian Pacifle R. same type as used by Hong-cas 1), 11 Cv.
Force and Cat. Tractor kung's Pulice
Celanese CuID. manned by RAF personnel, has been put into service by Now the Rotodyne is ready to the Belgian airline, Sabena, bring inter-clly hellcopter Bying to reality. Sample; Central to supplement its network of London to the heart of Parls in helicopter routes between 100 minutes, instead of today's | the European capitals four and a lialf hours.
during the period of the White Brussels Exhibition. Taking
from Walthen airfield in Berkshire,
off
the plane ellubed to 4,000ft, a place all-purpose helicopter
a helicopter,
UP, DOWN
... Finanetat Corn, Cluett Peabody Coleste-Paulive Co Colombian Carven Commercial Credit Commonwealth Elec.. convlidated Edison Continental Ol) at Det. Crown Zellerbach Cuban Anier, Sugar Diamond Alkali Diamond Match Co. Diniglas Aircraft Dow Chemicals Dupont de Nenoum Fastman Kudak
Chrysler Motors
The Widgeon, which is a five-
Alvis Leonides powered by the engine, will be used mainly for
and special shal-seeing tours charter Bghts
will bo and
airline Lon- operating under ditions for the first time.
Thes the pilaf, Squadron Leader Ron Gellatly, aged 3. with him 32-year-old co-pilot John Morton, shut down the LIVERY Dower to the rotor and trans- ferred to the forward-facing propellers.
The 185-mile-an-hour
48.
Painted in
Sabena's familiar livery. It was flown from Yeovil. England, direct to Brussels Air-
and was port
located al the
sester airliner flow forward in Exhibition Heliport for the
atroight,
steady epening
ceremony by King
turbo-prop Baudouin.
"freo-
the
Jevel and Alght on its wo cagines.
The rotor wheeled."
For landing, the procedure was reversed,
Paw National_Gai Family Finzane Cur Firestone TSTE & Hubber Ford Moler General Electric General Food General Motors Sơn Du U
Gelly Oll Gilsden Co. Goodrich (.) Co. Goodyear Tyre Heyden Newport Corp.
Mining Co. and Inland Steel Co... Interhemical Cor ini Jiutainer Machlite Int'l livevisy
International NikeT
talcinational Paper Int'l Tel Tel Jolth-Manville Co.
Elsewhere Oversous Widgeon is in service with the Iloyal Jordanian Air Force, the Brazilian Navy and the Hong-Konnecol! Copper kang, Security Forces.
In Japan the Rotodyne for nhead of any other hellcopter country's
This puts
it is used largest
by that electricity cr vertical take-off plane. In undertaking for power line in- and fact, one American helicopter spection and maintenance,
Persian Gulf by the alciipe chief has said Britain has in the
Company six-year lead with-
Petrolcum the British
oll- Limited to supply their Notodyne,
shore drilling rig.
a'
BABENA
The Westland Widgeon.
United Gas Corp.
1.5. Foll ""
U.S. Gypsum
U.8. Ling Co.
11.3. Rubber
$20 U.S. Smelting
3. Strel
Warner Bros,
244 Westinghouse Electric
02
Western Union Tel. Co.
BLANKET
The experts reject a "blanket Shipment bustness was negt!-polley of deflation, applied in- to ihe whole gible. Buyers here, were mostly | dfserimately uninterested. Unacespled offer economy.
ings out of Thailand inclined Their solution is selective, three sheets at 225% gents; oll | Immediately effcetlye: cuts ju 200 7 189 cost and freight, May/July | consumption provided by r 500 16.40
Locally Spot No. 1 the short list of goods 2010.50 lument,
1980 Thus was quoted at 241⁄2 cents, with a high port content. 1050 15.70 1005 » 19.39 ) nominal.
4.625 4.573
MISCELLANEOUS
RMEJA TAP
The New York Cotton Market.
New York, May 6.
Cotton futures today opened lower and remained on the defensive for the rest of the session. Closing around the day's lowest levels the list was off 14 to up 9 points. Opening prices were off 2 to 13 points, New Orleans closed off 17 points.
in-
SINGAPORE
from
AL the opening the market was almost unchanged yesterday night but same sellers of May LRSS predominating efiderice of operators was un settled and, buyers withdrew,
LIBS fell Premium on May from 1% cents this morning to
cent this evening. Fubarés: No. rubber orc ib, May 771-72
June m1.11%%% No. 2 Fuliber ber b. May 8-63
ກ່ໆມາ GO-01% 7144-7212
70-73-
1+
No. 4 9pot rubber unbaled.... "amiket creat
Na. 1 vole crepe......
LONDON
The rubber market was eater with spot quoted at 211⁄2 pence rer b. Prices: No 1 its spot Settement house ferrat
Jume
Juty/Sept.
2011-2114
211-2152 21-21 214-27
Oct/Dec.
Jan (Me" April/June
General markets, cif basin, perta:
MAY
June
July
212-219 21.21
unquoted
Estate crepe thin May thick May AMSTERDAM
tu chill buying Clearing and warmer weather also netei over the growing areas put the intercsi, Selfers thought the crop pieture In a more Invour- | acreage next year might be in-
crensed while able light and attracted
the support creased selling
basis might be lowered.
in the May Evening-up
The rubber market was quist. delivery followed the issuance
Open Prices closed in guilders per of six delivery notices.
interest today totailed kilogram, cl May is followe! Moy
The certificated 20,600 bales. alk amounteti la 21,050 bales, The government weekly crop Cotton Summary was mixed, made
A renewed slow-down in the demand for textiles, and unver tainties relating to vongressional action of new form legislation,
LONDON STOCK
MARKET
London, May 6.
Lood growth in Texas scetions and In the' for south- west where planting is virtually completed.
California reported planting well along with germination good and fow Insout or disease But eastern and
seclions continued
by too much
A bad day, both at home and problems.
central belt abroad. By the time the to be hampered stock market had cloted, | rain and cox weather.
The Liverpool market closed sterling had lost 7/32- evidence that foreigners off 6 to 10 English poluis and didn't like the bus strike under New York futures. —whila the market thera Month
500 lo dia American points
July
Government De
Kanan C. Power & unt
Llaget Meyers Tob. Co. Lockheed Aircraft
Volume Open Miterest
10BW Incorp......
1816
Lone Star Cement Co.
Lowenalem & Sone...
was a heavy exodus out v of British
21:00
29,000
€900
1204,000
1.200
241,700
132
McDonnell Aircraft (Am.
Stock Exge.)
stacks which lowered tar
T200
154,800
14,400
133,500
10,000
374,300
hiesabi Iron Corp. Minerata Mining Menton Development
9,300
100,000
D000
2211
July
05 300
$7,900 1,341,300 baler
NEW YORK Prices of cotton futures closed teday as follows:
Spot: 39.00; May: 35.95: Justy: Mars 32: ON: 1: 37.40 10,1 Mos Oct: 35.00.
Treasury 3 per conts by Stay 10/-, War Loan and 4 per Del cont Consols by 7/6 and tal othors by as much as 5/-. Nearly all closed at the day's lowest level, Industrialy were nearly all down by Ed or a schilting with the engineering and electrical issues down between 1 and 3
NEW ORLEANS shillings. Chain stores sow!
Prices of cotton futures closed steady selling though some of today as follows: them steadied towards the close Sput: 54: May: 30.00; Juty: 3734; on bargain hunting.
Oct: T147: Dee: 31.45 Mat: 30.07 But Ford Motors, Rolls Royce Mar 31 Jul: 3651; Oet: 35 and Unilever, all down at least a shilling, showed plenty Of
pressure.
Wero
erratic.
LIVERPOOL
Cotton future closings, in perce per lb. were as follows:
American
Contract: May/June:
No. I tuber No. 2 No. Wit
non. 207 POIN
2.4 with. tiated Pres.
New York Sugar Market
These goods are not ilated by the experts but they mention In their report wine, petrol and 1cxle roads..
"Without new foreign loans," "France cat t they conclude, best hope In 1950 for & stond- of consumption stil in levels and a very light increase in production. But it may be diff- cult to achieve even this modest objective.”—China Mail Special,
Rice Price
Expected
To Rise
Singapore, May 7.
The Straits Times said today the price of rice in Singapore could be expected lo rice by $(M)1.00 a plcul in the next Lyn months.
Production Of Sugar
Havana, May 6.
The Cuban Sugar Stabilisa- tion Institute announced ☐ 100,000-ton boost in this year's
production figure as an added rezervo for export 'to the United Statos.
The announcement said the boosi was aimed to assure a full supply for the U.S. market Gifs year to view of deficits among other producing areas, as well as to maintain a plentiful reserve for the world market.
The100,000 on figure—_—_NO- the incidentally matches estimated amount ог sugar destroyed by Cuban rebels in
efforts their
to destroy this year's erop.-United Press.
Singapore Stocks
Brokers
Singapore, May 7.
today quoted the
The Times, quoting "a lead- Singapore rico importer" sald militantial purchases of That rice by the Indonesian following stock prices; government had caused un In- Cirant by £2 to £0 ton
Batu Lintang Hubber
Opening
Co.
Borneo... $1,37
47/00
27/
F.O.B. of white 100 per cent Lid.
231100) whole grain rice in Tholland,
Byndicato The poper said suppiles from : Consolidated Tha Smellers Chinboula and South Vietnam Framer & leave Lid. Ont.
Ord, And stopped. as both govern Fraser Neave 7% cum. menis stopped issuing export { __pret med AMANA Leaners for rice last month Ganumons (Malayal Limited $2.00"
Shanghai Reuter.
London Foreign Exchange
London, May 6,
Closing rates were:
Brusata
Frankfurt
Oxle Perh
Now York, May 6. World No. 4 sugar futuras New Yor
today closed unchanged Amsterdant to one point lower with Copentugen sales of 146 contracts. Demestic No. sugar futures Stockhokn closed 2 to 3 pointer higher with Vienna Zurich rales of 129 contrnets.
world Although
Fugar future ruled quiet, deaters T- per.ed a broader constoner in- terest in the spot mark.
П
Ceylon reportedly bought cargo of Formosa restued sugar, May/June shipment while Bzyp! bought 20,000 tons of Brazilian raws through operators on Л barter basis.
Hongkong
Banking Corp. Hongkong in Ltd. Kumar Ltd. ..... Kunis Lamper Tin
Lunar Rübber Estates Lid, Matayan Brewerien New Serendah Rubber
Lid
Petaling Tin Lid..
Itaffien Hotel,
angspore Cold Storage" Birate Trading.
Steamship
United
2.612/16-241 0/10 7.723/16-172 5/15 | Wesme, 13708.
• oxrights. Melt Special.
10.5071-10.50 139.226-130,37%
20.01-20.0815
117845-217034 14,4833-35,48% 12.53-72.903
12 2374-12,223 Obra unchanged,~~Walted “Press.
New York Foreign Exchange
New York, May 6. Closing rates werez Comedy N*
1.01 1/2 England villejał
2.81 5/10 70-days
Finland, following a pur Amitalia chage of 10,000 tons of Brazilian New Zealand .. refined for Juna shipment, was South Africa
Germany reported negotiating for 6,00 tons of Polish refined for July Indianai.
Pakistan shipment.
Casablanca will hold a ten-: der on May 7 for 42,000 tons of
2,25 1/16
2.80 5/17
221 11/10
.1893
2}]
2112
Olbing unchanged.—United Press.
raws for May/Sept, shipment London Metal Olis
again
July/Aug 25.95: Oct/Nov: and Korea in expected to buy a Royal Dutch finally closed · un- 25.001 Dec/žan:. 20.151 Mar/Apr: cargo of raws
13, un May changed and Shell Transport | 20:00: May/June: 20.60.
Ceylon, on May 27, will hold u
with a gain of Od but the others Mixed Contract: May/June: 25.00; tender for 10,000 tons of rows *-including the popular Cano-July/Aug: 20.10; Dot/Novi 20.00 Dec/Jan: 20.00: Mar/Apr: 21.20 May/June: 27.40.
dian Eagle fell between -wild 3'shillings.
There
1
virtually no
SAO PAULO Intorast in foreign bonds. The Colton future closing prices
were unavailable today. Diwen. Loan Non-Resented - Toso Materling it the other Oor- In the
the United States, mann, both; adsenfadʻand non-} average' prico of one-Inch besected, wark unchangeit. cotton at 14 designated spot
a. Jugalinis were completely i markets was not, installable, Idle. Gold sharon had ariather Total sale at these markets poor-day but;"coppieR | WOŻO were also not available.. -- firm--United Press.
United Press.
Prices
London, May 6. Prices of molats closed today
$2.43
24 3
$120
#1 62%
$1.40
$33er
$1.879,
30.00
Ord, Tedf. I exall-China
New York Metal Futures
New York, May 6.
today in cents per lb, as follows:
Lead May
Prices of metal futures closed
July
July Zine May
Couper May
Fin
July
10,829).
10.0.31
6255
8.STI
23.42%
Ualled F.
Exchange Rates
Business was done in the Incal Unofficial oxchange · market tila morning at the following rat
for June shipment and 30,000 tons for June/August shipment in sterling per long ton as fol-Biam licel (per 100)
לכל
22 Agreed Merchant Rates
lows: Contract. No. # (wortd) July 3.41; Bepi: 3.42; Oct: 8.30: Tin spat Mar 3.30: May: 37: July: 0.40
Copper spot Opal-feonts pag tb, fob Cubs): 20.
Open Interesti 0,300 pastracia atronu
U.S. doller (per (1) Sterling noted (per £1) Australias notas (per 1) ... 19.40 Indonesian rupiah (per 100)
0.20 221.30 Singapore (Btrait)
149
15.10
Buyers Seilery
7301
month
170-
37015
Contract No. 8 (domesilo) July: 6.70; Sopi: 41: Nov: 9.00; spot-toents per ib, elf H2 ex-duty): Zino at hald
Lead Ist half
·May
72%
0.79.
· Open - interest: - 1,173 nontNAERU.— Valled Pty.
May
Swlis France, Maximub
Selling, 754-
Belgian
Selling, 654,
France, Maximum
West Gebak Deutschemarks,
| BEARINLAR BRAIDS, 71-19/30,