THE CHINA MAIL, THURSDAY, MAY 22, 1958.
THEME OF MONTREAL MEETING
TRANSPORTATION HONGKONG
FRENCH CARAVELLES TO GO THROUGH
THE first
FATIGUE TESTS
jet
three Caravelle
airliners Scandinavian Airlines System will put into service in 1959 have reached advance production stages at Sud-Aviation's Toulouse factories, the airline announced,
At the same time, the French
aircraft builder has
completed
the preliminary phase of
three-month fatigue test uring a
prototype Caravelle and a glant,
INDONESIANS
TO
rcially-constructed water tank BUY KPM SHIPS
SAS sak that, on
the pro- duction lipe, a portion of the wing structure aiready has been
joined to the completed fuselage or SAS Caravelle Number One -Finn Viking.
Finn Viking will be ready for Alight later this
Best tem
ita year. THE FUSELAGE
SAS The tuselages Caravelles Two and Three also have been completed and moved Inle forward construction stages,
Six
of the 500-mile-hOUT France transports-world's first medium-range Jetimur-will be dollvered to SAS in 1959.
The airline has an option on 10 more.
will The Caravelle By SAS routes in Europe and the Near and Middle East.
Djakarta, May 21,
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- i
Stock Long
Exchange this morning amounted to approx!- my $356,000. Noon quotations
and the morning's transactions:
Buyers Sellers
Hiires
RANKS YIK Bank ..
East Anda..
INGVRANCES
Valon Lombard XD
Bales
700 7075
40703 111105
122
i
71 70
Auto Nav... 1.23%
SRIPPING
Wherlocke
0%
2301276 0001.275 15 3.500 2.10
TICKS, ETC Provideni
101% 11.50 1
TEZ (1,50
.....
3215 921,
15 10 40 1.425 1.375
RUBBER Amate
N Indonesian firm might Dock A A buy ships from the h.P.M. (Royal Dutch Steam-LAND, ETC.
1k Hotel packet Company)
WIS
Expansion Of Commonwealth Trade
London, May 21.
The Earl of Home, British Commonwealth Relo-
tions Secretary, sald here today that the forth coming Commonwealth Economic Conference in Montreal would have three main themes.
These would be:
*
N
interest and A common purpose in expansion; Common missmertn whleh could be exchanged to inutual benefi;
مرغ
The sirengthening of the sterling area (greatly in the interest of the dollar areu). af inter- The expansion
A general goodwill which Commonwealth trade.
converted to could the emphasis Because
advantage into the old and the great both in
joint on evonamle endeavour. IN 'new Commonwaith
Lord Home described the Idea development, the provision of
the to hold the Montreal Economie additionn)
And capital,
Conference uexi September ne i machinery through which it may
Cana- to the maximum "Canadian initiative- Le employed advantage of the Commonwealth.dian Inspiration."
He was addressing a lunchron niveting of the Candian Cham- ber of Commerce here.
Antara jjiż Land .. The 2003 & 2 responsibilities of empire alone,
news agency said today.
startsulateye KPM. which used to opettele - Really
In the land costal services
banished from republic, Indonesia during the "regain West Trian" campaign last year. The company has announced that I plans to sell some of its
older glips.
Pusaka Antara sold Itata Limited of Surabaya, East Java, were considering buying some f these. Å spokesman for The in touch company said it wus with KPM, the agency said.— Reuter,
Sud-Aviation's extensive test Train Ship Makes
programme-tarted
ir. May.
1085-meanwhile moved
un schedule.
abead
A prototype of the Caravelle peelically built for the test serles--was wheeled through
the narrow, winding streets of Toulouse and into a huge water tank structure. WATER TANK
t
Maiden Voyage
A
NEW type of vessel has maiden made her voyage from Heysham to Belfast, carrying railway containers of various types.
She
the expands
daxr- for service
traders, t-door
been developed by which has
The water tank is located RAT-the. French government ronautical testing laboratory, The actual test will not begin the railways for more than 20
years. When it бълг several weeks
The ship tank and prototype dres, the
will belled with weight tons Juselage 43.000 eulile feet of water, then pelse, the first
vessels ordered by British Rall-
Amplied, then-refiled.
al
UTILITIES
Train .... Stor Ferry.. Yaurnati
vzta 263 9 20%
1343 375 10,000 1.35
1.25
24.00 24.50
140
04 034%
C. Light, 1720 17.40
Certrie
2400 24.10 Tekutione. 26.10 2030
2006 17.46 630 17:40 10
8317 21 GO 21126.50 Sod 20.10
INDUSTRIALS Cement
Tope
22.20
13
Aloy Can.
STORES, ETC.
37%
16.10 10.20 10.70 10.00 107
5 19.10
4.43
Nanyang ... INVESTMENTS
8.30
Allied
1.30
Dairy Watross
Craw.
LOITONS Textile
He said that for many genera tons Britoit had carried their
"Now
and vigorous young partners are seting for them selves the manning of the new and are ac- Commonwealth
responsibility of ecpting the making it a going concern.”
Greater Tonic
no greater "There has been tonic thinn Canada's proclama tion to the world of her faith In the Commonwealth conception 311 the Commonwealth is
the reality-and in political economic prizes of Common- wealth co-operation and unity," Lord Home declared..
Speaking about the challenge
in-
100 1030 to the new independent coun- Irics of the Commonwealth,
Ukit Lord Home sald dependence did not by itself secure prospertly in a highly competitive world,
After analysing statistically
Statistically
the notable progress miude in liberalising Canada's Insporti into the United Kingdom.
COMMODITY PRICES
METALS
NEW YORK Prices of metal futures closed July
today in cents per lb. as follows: Lead May July
Zina May
July
Copper May
July
Fin
May
July
LONDON
ton
10.36h
מב 10
2. ib
230
23849
D4.000
D.352
Prices of metals closed lodpy
Buyers Bellers
730 730
734 721
170 171
28388623
お
Brot R No. 1.
22-222
Spot
Balenient hottro torn:
July
JUHO
Coi.
July/Sept.
Dec.
Oct/Dec.
Mer
Jan/Mar.
21-22
May
July
Apr/June
General markets, elt bnzje, ports:
Oct,
May
▷ Duyer
June
Fatale crepe thin Jung.. thick June....
+229 211-2216 237.
LIVERPOOL
closings, in
25.70
20.27
20.70
27.06
Mar/Apr.
May/June
27.48
American Contraci
May/June
25,00
July/Aug
25.53
Dec/Jan.
Mar/Apr.
20.03
May/June
BAO PAULO
--Viies Prem,
Cotton future
penco per lb. were as follows:
Mixed Contract
Atay/June
July/Aug.
Oct/Nov Dec/Jan
FOREIGN EXCHANGE
in sterling per long follows:
NEW YORK
in mod
Closing rutes were:
I-carth
Copper spot
Canada
1.03-17/33
invata
Argentine
,0230
1
Brazi
0014
Lend 2nd Half May AUL Zinc d ind? May Aug
7134
72 01% 63
Uruguay
1050
Otters unchanged.
Canadian doline raten;
United Fre
Apot clos
Futures 30 days
no days
d+nxonish
RUBBER
Lord' Hüme wild. "We greally | welcome" the clear call by tur
Rex Minister, Mr Canadian Prime John Diefenbaker, for more capital and more importa from the United Kingdom.
The United Kingdom would respond with enthusiasm.
He concluded by saying that In building a strong structure of trade between
them, Britain and Canada could take their places with "confidence in the vanguord of Commonwealth expansion."--Reuter,
Quiet Day
"The ecotumle aims of these are huge Increases I agrThe
and the cultural output
de Industries velopment of heavy
Exchange Rates bad on natural resources.
of two
Bulness was done to the
market 000 dead-nofficial exchange is the
murning at the following rates: Container Enter- U.S. dollar per #1)
sucti Sterling notes (per £3)
Australian natos per Ell ..
1094)
this
5.79 18.01 economic future." 12.43
"If they are to succeed they must attract capital from outside. Their prosperity
depends on their ability to establish conTM political and Adence in their
Indonesian rupiahs (per 1007-
8:00
He said that a rough sketch 20.43 proved that all Commonwealth
countries hid:
In
London
NEW YORK rubber futures today elosed 30 to 40 points higher with wales of 60 contract, Prices; May: 25.00: July: 26.10: Sepi: 20 10: Nov: 20.00: Jan: 2539; Mar: 23.00; May: 25.90.
AMSTERDAM
Markel forse
OLL/NGV.
Prices were all unquoted to.
day from Sao Paulo,
โร
the United States, the
1:03-17/32-1.03-9/15 пverage price of ono-inch cotton 1.05-37/12-101-9/10 of 14′′ designated spot markets
1.03-12/22-103-7/18 1.03-27/04-1.072-23/04
1.03-1/65-1.00-31/51|| 1.03-1/2-1.03-3/32
ng-United Prem,
LONDON
Closing rates were:
New York Montrest
Amsterdam
| Brussels
Copenhagen Frankfurt Milan
Sineklik
Zurich
2.01-11/16-4.41-13/ig 8.725-2.723
IN-10 Bula 130,4744-130 50
19 3518-19,3014
11.712-11.71
114012-1747
14.478; - 24,47%
was 34.7 cents.
Total sales were 15,703 hales,
-Unlled Press,
SUGAR
New York, May 21.
World No. 4 sugar futures to- day closed unchanged to three
201. Osin Paris. Vienne un paints lower, with sales of 97 changed United Preau. market
The rubber
war stendy. Prices closed today in guilders per kilogram, clf June -au follows:
No. 1 rubber
No. 2 rubber
No Mubber
Nu.
crepe
2.15 nom. 2.10
SINGAPORE Futures, in straits per b., fol Baluyan ports, were:
Nu, rubber Juns .......
No. 2 rubber June No. 2
Spot rubber unbated Blankel Crepi
No. 1 palo crepe
COTTON
30.00
contracts.
Donostic No. 6 sugar futures closed unchanged to one point higher with sules of 74 con- tracts.
Contract No. 4 (world)
348-40
July
Sept.
NEW YORK
Dri.
Mar
Prices of callon futures closed
Blay
July 733-26
74-741%
1oday as follows:
Ju
11-92
Spot
30.20 noin.
Hept.
03-035
July
Oct.
.30.38
Spot-teente per i fob Cuba) 47 Open interest: 7,201 contracts
02.03
7436-747%
13
36.70
Contract No. § (domestic)
Mar
31.01
July
5.10
561-53
May
31.05
Sept
5.80
16.00
July
Nov
Out
Mar
market
was
NEW ORLEANS
Plices of cotton futures closed |
Spot-tcents per 1b. ct NY
ex-duty]
5.20
| Open inter-1: 2,312
contract.
today as follows:
LONDON
The ruber
stendy witbot quoted at 22
London, May 21. penco. Prizes: international situation
was less alarming and the local trade union impasse beginning to yield but buyers refused to come into the stock market. Turnover on a very quiet day. compared was 8,170 bargains with 13,351 at this time a year
nctive sector The only ron! was that of gold shares. Financial Times gold Index. which stood al 65 » year ago, was 16 today. Some of the bal ter known rose another 2/- to- Joy.
ago. into the way for the Northern Ireland
The water pumped
will Service. With a capacity for t fuselage under pressure
ronditions in alet 65 large containers, she duplicate
different will improve the service be- Bessurised cabin
Heysham tween
and Belfast Eltitudes.
Frogen divers will check the which has grown from a total fuselage for signs of fatigue of 17,243 containers in 1953 to
der water pressure. The tank 25.225 in 1957. and fuselage will be omptiert esch night, and the pruletype checked again.
1
This process will go on day LAID OFF TANKERS
пл-
after dry until the test Caravelle 1:|:༢ "uged"-equalling sume
T flying hours 30,000 proximately ten years
perating ifetime of a cummer- cial airliner.
UNDERGOING
In the
Another patatype Caravelle, water rimilar to that in the tank. Is undergoing an extensive series of static tests.
New York, May 21.
list of laid-off tankers all
over the world has reached
charter
363 vessel totalling 5,8524,018 tons, deadwright broker today.
n
of B4 tankers since April 1.
Wus macie The report
by Weber Company Charles I. whleh said that 98 tonkers had been deactivated since April 1 und 32 telurned lu service.
Stum ea) per 100)
Singapore (Straits)
1.00
STEEL PRICES
EXPECTED TO GO UP
New York, May 21.
WERE STRONG
The
British Government were all very quiet and mostly unchang- ed. War Loan rose 1/3.
Olla were strong with Royal Dutch up Shell up 3/0 and British Petroleum up 1/8.
Blue culp Industrials were steady but ilses of as much a 1/- were rare.
Trench was heavy
United Press.
Railroad Shares Active
On Irregular Market
Клини
WALL STREET PRICES
New York, May 21. Strength in railroad shares and special issues stood out in an
irregular, active stock market today.
Gains in the rails ranged to more than two points.
..
Publieker Industries The sperial had advances running to three dio Corporation points.
ker reported on aeroase Steel price increases on July 1 are a definite possi-buying of Suez Canal shares Steels turned irregular with Case (3, 1) CA
bility, according to steel market opinion. This which jumped £1.15.0 to £54, the exception of a few streng Col. Tracur prospect, however, has failed to attract any idle. Only noteworthy change in lost part of their rise. Most of ‡ Chase Mantul. Hook ( significant new buying. While kleel ordering, "nided sheets and timplate are moving Press,
well, due by seasonal considerations, hus quite
and are past factors, improved slightly in the
Huge, heavy lend strips are hung from various parts of the
to simulate the effect The total number of Ameri fuselage of wind and other forces on the enn-fog tankers tak up is 49, bidy of the airliner.
totaling 776,451 tons, the report Sud-Aviation's 10 aying added. United Press.
One" otid prototypes "Zero "Zoro Two"--also are complel-
scheduled portions of the Y
demonstration and
ing
trs!
gramme.
"TO
One"--the
Laboratory-h
prow
Flying
Assembly Kit Yard
logged more DEUTSCHE
of
f
The
Werlt. forerunner in Hamburg, a than 1,600 flight hours since itssembly kit yard technique. maiden Right in May, 1935. It
Just launched the forepart of a Hilted / th equipment for
34,200-Idw ore carrier ordered instruments, terling
electrical
by thu Disto company capacity, zral other related parts Guerissen & Klaveness, of the Jetliner,
"Zero Two" has just finished section will now be welded to the carrier's rear part which left "Opiration
White"-a Snowy
the slip fast December. month Ot grotund and cold
When assembled and equipped weziber tests In
northern with a 0,000 h.p. AEG turbine, the vessel will reach n 13.5 khot cruising speed.
Sweden.
"Zero Two" has flown more than 200 nights, logging in
excess of 500 lying 'bourse,
Finn Viking with the wings joined to the fuselage.
to seasonal
helping tu w weeks, little of it is as Inaintain sheet operations.
strip Automotive sheet and elated by steel companies with customer anticipation of further buying has practically dried up, prlee rises. At the sama time, it is reported, although there a slight furry during the these Increases are expected to was fall considerably short
from one manufac- of the past week estimated 20 cents hourly rie turer. Sleelmen say they expect no substantial automobile steel flabour costs provided uy eristing contrucis.
orders until buying starts for 1939 models, but they feel this
Are Likely
could show up as early as July. Steel production has continued
One trade quarter, in a poll of the industry, sald steel prices to edge higher. It is scheduled nt 1,400,000 tons in the week to would probably rise by four to six dollars per net ton, But May 15-an estimated $1.8 per this would cover only about half cent of capacity-against 1,334, the increase in wages and other 000 tons in the previous week and 1,288,000 tons a month ago. Pick-Up
costs.
Steel Industry observers may that because of this gap, steel producers are likely to run the
However, this has not been risk of drawing criticism from relected in much, if any, pick-up Washington, puiting pressure on in steel mill buylog of scrap. customers prouts and the pos- Export interest is is quiet, sible lost of business to com- Scrap prices are holding steady peting metals and foreign mills, at most centres,
Germans WETE completely spots.
Oils moved higher but C. L. T. Finnücial Corp.
Chrysler Malere Japanese was a rise of £1 in the the uhrerafts held in a nar Cluelt Peabody 1930's non-assented. United Tow area. So did nutos and | Cute-Pabnolive Co
chemicals, Tobaccos were irregu. Colenban Carbon Co.
Commercial Credi lor. Motais had
severni good Commonwealth Elec.
Comunidated Exilann gainers.
Continental Dll of Dei. Crown Zellerbsen Cuban Amer. Bugar Diamond Alkali Diamond Maten Uu Douglas Atreraft Dow Chemicals Dupent de Namuti■
Airline
turned
Sales Of Super Low-Price Cars
National
Theatres
theatres petive Inte in the day with single sale of 300,000
shores
In America
Rise
Detroit, May 21.
now
1590.
and Trane had one of 10,000 Kedak chores, Shipbuilding ruled strong.
·Of 1,167 issues traded,
El Paso National Gan Family France Corp. 542 Firestone Tyre de Rabber
Ford, Matur
General Electie
Genera Foods
General Motors
Clen. Pub. Util
Gen. Tyre & Rubber Getty
Wards Automotive Reports advanced, 390 declined and 265 today in its annual year-held unchanged. A total of 140 highs for the book said American buy-issues hil new
year while only B touched now ers have created a
Jows. market for the "super low- New York Stock Exchange | Glidden Cu price" car, beneath the volume was 2,580,000 shares.
| Goodyear Tyra. New York Stock Exchange i grumman Alterati perennial low-price mar
bond volume was $5,740,000, ket.
American Stocks
Exchange volume was 780,000 shares.
Dow-Jones closing averages
The 20th edition of the Words Automotive year book said:
quantities steel market. While none of leasing
well- of
at sharp un granted open hearth screp them point to any Turn in demand or production. surrent price levels. They ure fortifying Industry Licensing of recap for export opinion that the steel recession during April was the lowest for speed up, Motore
General
1958 month to date,
any
lost month
totalled
the
1 uitee
"A spectacular rise of were: ported car sales during the 50 Industriais past three years has beatirred res Sellers admit S. auto manufacturere toward as ste
a new breed of 40 bonde.... Meanwhile, mildly' encourog- there Is plenty of tonnage coping with Ing things are happening in the around but they are not re-competition. Top-level decisions Comm. future price index
Closing Prices this year will bear importantly on the future,"
Alders Inc. Aky, SPEED-UP
Allied Egginteals Allied Mila ing. This evidently referred to
Alla Chalnone programmes #L Am. Brake ho
Chevrolet | American Auring may have at last bottomed out.
This has not affected various Institute of Scrap Iran and Bten get smalt car plans ready if Amer. Thren Power
Division, Ford and Chrylser to American Cable & hadlá Corp.
American Cyanamie Co, smaller producers, but among reported. Tonnage Kiceriae:
markel keeps growing. Am. Cue & Clectris the large steel producers, re-
259,033 10 ports are general that orders
American Meta] are up slightly that May will against 400,978 tons in March. Chevrolet and Ford reportedly Am. Home Fron the market by autuma, 1959, intricata Brnerling probably be a better production. This brought the four-months could put their light CATS
Am. Sugar fat, given the grćen light,
Tel & month than April and that Juns aggregate to 1,375,749 tons com-
Wards
#nationwide American Tou promises to be as scolar pored with 2,621,076 tons
corresponding 1957,
survoy shows close to 2.500 Anaconda Copper helter then May.
The Institute pointed out, frutependent dealership and "an- | Armour" however, that the early part of other 7,500 dealerships handling Ates Contine
Ballimore w. Ohio' The steel market is receiving 1007 was marked by a strong U. S. care are now selling Im-Baldwin-Lima-lam Bestiola) Finance support from construction set deround for licenses, which in ported cars.
retrospect, was abnormal.
"Continued strength of foreign | Bendly Aviation Corp. vity, bolstering demand for such products as plate, structurals sold lack of British buying and car sales this year" Wards Hours Guid and reinforcing bars. Blandand the slow rule of purchases by ald, "could prompt a produs none Alpe
breakthrough for small pipe demand has also picked up, Japan were the principal factors on Felecting the spring uption in in this your'e oxport #crap plo- Ameriojn care is early as 1929.
United Press│ fhomme building. Galvanised turo-China Mall Special,
Construction
101
علة
Armed Steel
Bathisham Steel
ordna trágico,
mughang Machin Canadian Pelso
114,01
77.10
03.11
Goodrich (B. F. Co.
Gulf Oil
sden Newport Corp. Mining Co. Red-Rand Inland Steel Co... Laterekteintent Int'l Burtnieka Alechine
·Tati Barverlor
Cors.
International Nickel Zatestational l'aper
153 Das Tel & Tel
John-Manville Co.
157.09 Kansas C. Power & Light ..
Kennecult Copper,
Lipsti Movers Tob. Co.
2015
Lockheed Aircraft
45-14
Loows incorp.....
Lone Star Cement Cn,
Lowinment S
36% McDornell Aircraft
Stock Exge.)
Meszbi Bron Coro. Minnesota Mining
13% Milon, Development 43|| Manmanie Chemicol Cəl Montgomery Ward
Mefninia Mhe. National Biscuit Co. National Cards (eg, "A" National Dairy Prod. National Lend .... National Stesi Corp. New York Central Qin Mathieson Ofis evators.... Owen-Inola Glam Oxford Paper Ch Thelds Gas & Elec. Hon American Always Paramount Pictures
45 Pucke. Juvio Co. Peony J, C. Co. WT
Bali Co. 113 Philo Morela vagin
Procter de Gamble, Co. Pittburgh Flat Class
Badin Clip tret.
Republie Steel
Reynolds Mel:1
1% Bhell off tu.
Sears, Ruzbuck & Co.
10
Paint Reg. P'oper Sinclair
22
Plesny Mubiloll
SA
Sulor Alresf
40!
494 Southern Co. (The)
02-
Southern Hattway (Com)
21
Standard Brands
·BET:
Standard 011 of Cal.
DIE
Standard Ol of Ind.
474
Standard Oil of N.3.
مانگ
South Puerto Bleo Sugar
Southern Nailono! Cas
มี Sleep Rock (Toronto Exge.j
3316 sterling Drugs Co.
32
Biokely-Van Camp,
20% Studebaker-7'nckari Corp.
Runshine Mining
175x wift & Co.
31
1037
Texas Co.
32
Textron Ing.
usi
35
Tile Watar Ann. Oll
Tina Ine. (xd).......
Twentieth Century Fox Film
081: Valun Carbide
M
Upion Oil ợf Cal.
178 Union Paride Hallway
2015 United Alterait
24
United Gas Corp. 44.6. Fali "D"
311 0.9. Oypsum
1. B. Line Co. 231: 11.5. Rubber (xd) JER
112.
4
UB, Smelting
8. Sterl
Warner Bros.
Bos | Westinghouse Electrio 7204 Western Union Tel. Co. 2012 West VR-Pulp & Paper
Woolworth
(Am.
4415
-United Prong,
"U.S. Tariff
Programme
Washington, May 21. The House Way & Mean Compitte upproved today to Proklont Eleonhower's request for a five-year extension of the Haooiprocal Tariff-cutting pro- gramme.
This was considered a major advance for the proposal which is intended to provide the Pre- sident with power to negotiato 25. ver sent further cuts in Mây | United iStates tarifs on top of
50 to 75 per cent cuts already mode in the last 20 years.
the last 20 years.
The bill would give the Pre- aident this power for dve more
} years.—Unlied Props,