RANSPORTATION
THE CHINA MAIL. THURSDAY, JUNE 19, 1058.
Slight Check On New York
'COPTER SERVICE MAY But Some Bullish Sentiment Not Lacking
LINK TWO
BRITISH AIRPORTS
London.
with
New York, June 18.
The stock market rise that had carried prices to new highs
since last September met resistance today. Realising of profits by some traders proved too much for the list and it
lost small amounts in the averages.
THE prospect of an inner circle' BEA helicopter service linking the newly-opened Gatwick Airport, and later, perhaps, Southend, London Airport is outlined by Lord Douglas ofrogs and special issues, Kirtleside, chairman of BEA, in the magazine.
"From some pints
of view.
the new for HRA to use two
is a embar London stirparts. resument." be writes, tainly 245 higer lation The costs in the London area. Integration of our schedules is
e difleult. $t it
Ki hevder to achieve high air dereft and crew utilization....
Is
As tealhead conge lion at Tendon Alpot grew,
international
4917
2 views would
lave to las sopra Bed out
":[
BEA
Tolls Announced
For St Lawrence Seaway
Ottawa, Junt 18. ROPOSED talls were announced today for
PRO
Gatwick, Wigs would have to shipa using the multi-iniltion
be Jour of getting perretgen | dollar St Lawrence seaway
sports wineg quickly between
which the Queen will open formally next year,
They arrive at arm and ward to colline their jarney from the
etl.cr
"Surfarn
between th. post Leben Asport and Gatwick in -neither convenivat nor rapid, For this retosos BRA ha upplied for a basted, righid by the Ar Transpot Advisory Council
It will be the dras fine telle chargelos a SDÍ have bren the canals on the St Lawrence Elver-Great Lakes syalent.
The announcement of the
to operate between the two charges was made Jointly by the 1:x:115 and, ultimately, to St Lawrence Seaway Authority Southenes well. (Southco Canada and the Seaway
Fr
traile
control
United States.
in Lime seine krly to becree Development Corporation of the London's thi da rjmt)."
Special
The propused toils would bet reuicings, direct between the based on a combination of a airets and quite clear of the vessels carrying capacity,
and the distance normal 44Me palters, would actual cargo
In these "Innertravelled through the seaway.
clcle" services,
be sential
"I special direct prove
routednes impractical with
to be
Leroplanes,
there seem to be Food prospects that helicopters may limitely be atile 10 per- feren useful
#1
MAIN PROPOSALS
Far
its
passage through the
. լt ն է լի roway from: Mon-
treat (+ Latke Erie a verse!
11 there was no lack of nettchen Steel in spacial Boeing Airplane Tillich enthusinem
Automobile shares, aided in rome part by vague hopes of or reduction of the excise tax on new ears, featured the market in strength and furnover. The taxfenb
den (The) Co.
Add sachine Chil. Fucking Cor Campbell Soup Co. Canadian Pachie R. Care (3. 1.) Co. Ca. Tructer.... Celenese
426
Stokely-Van Comp
431.
1512
4:44
Studebaker Packard Corp.
5
Sunshine Mining
Swin & cu.
4%
Texas Cu
The Water Aso, ail
地址
C. T. Financial Curg Chn Manhat. Bak Chrysler Malors
$31
Untum Oil of Cal."
011
Union Pacific Railway
48
United Aircraft
404
United Gas Corp.
Chrett Peabody an
-Palmolive Co.
11 a food reception on the bellet it was behind the market. Cutest Carbul Ci
Prospects
Selected issues ruled strong, including Addressograph in the office equipment, Ameradi in the oils, Amerien Potash in First National; the chemien, stores in the mercantiles, and | US. Gypsum
smates.
proppin
Prospects for Feme
and to Tittle k
Constnercial Credi Cetannwealth Eice.
Edison
continental Dil of del. Crown Zellerbach Cutian Amer. Sugar Diamond AM§]|
Diamond Match Co. (Kugina Airera[] Dew Chranienke ......
Eastern Airline Dupont de Nemixes
52 11 building Eastman Kudak
Paso National Gas price Fall Finanes Corp.
Fitratne Tyre & Rubber zine Fund Mator. Those General Dynamies proved groups. Amerirnn Zine and St, General Electric
reply Lead dimed but ethers or the group cased.
A Justler Department blast against Du Pont in its holdings stock sent of General Motors that issue down.
Of a total 1,214 issues traded, 4 were lower, 372 higher, with 73 new highs set. 3 new lows,
New York Exchange volume was 2,640,000 shares.
New York Stock bond volume was $4,190,000,
Exchange American Sluck volume was 1,030,000 shares.
Dow-Jones closing averages
were:
3 lista1-
26 Fales
65 Jarks .7.
40
job in this I would be aversed at six cents | Pima, futute prace Judex sphere."---China Mall Special,
SEEK
U.S. FIRMS ATOMIC SHIPS
171HLA British shipowners are WY aroplin
a "wall and see" polley on nuclear propulsion in merchant ships, three, major di! companies with tanker feets are pressing for Amencan Govern- ment help to take part in that country's programme,
Approaches have been; ad to the United States Atomie
Energy Commission und Maritime Administration.
the
The Cities Oil Co, sult the Gulf Oil Corporation have been hav- ing discussions with the Ameri-
(about six peter) per Arnisse- nistered to, 42 ente (3/4) per tem on its bulk eulgo and 9% cents (8/-) for leg on Reneral
ento.
For passage between Mon- tent on Joke Onvario, the
fel would be four crats (four pence per gross registere 1 ton,
Food
Gen Mozora ***'*
Gen. Puli. UU... Gen. Tyre & Rubber ciety dl...
uuden Co
Goodrich (B, F.) Co. Goodyear Tyro ... Grumman Alertart
Heyden Newport Corp Zlomenzake Mining Co.
fiseenwoll-Rand Inland Steel C Interchemical Curp.
inf) Tel & Tei
Kaiser Industry
470.G5 Lockheed Alicrust
Loews Incorp,
0416
511
Tine Inc.
Trt Cont. Warranda, pove
Twentieth Century Fox Fum
Union Carbide
U.S. Fo*3**
425.8. Gyprum 67.9. Line Co.
27% 9. Hübber
$3.8, Smelting
5313 .8. Steel
493 U.9. Steed 1 F.C.' Pr 241 Wamer 15/0
31
34% Westinghouse Air Brake
Westinghouse Electric Western Uniom Tel. Co. West Va. Pulp & Paper Woulworth
HONGKONG
STOCK EXCHANGE
lo
this
up-
Business done on the long- kony? morning amounted proximately $399,000. Noon quotations and the morning's Transactions were:
Stock Exchange
41%
Exchange
In Business Machines Il torvester International Mickel
Our Own Correspondent
3411
Interitatiul Inper
371
John-Mavile Co.
Kansas C. Fower & Ligh
Kenneeuit Cepper ... Laggett Meyeni Tub Co.
TIL
Shafey
47
BANES
HK Dark..
Juyers Belters
700 705
Mater
34
INSURANCES
57
30-5 700
inion.. 732 75 LOU 743 Utiderwriters
7
SULPING
Waterboat 10.00
212
Wheelocks
0.3) 0.26 1,650 or 0.20
32!
DOCKS, ETC.
K. Whart..
Closing Prices
Ald; a Ine. Acy
Ailed Chemienia Alifest Milis Tue.
Als Chalmers
Am. Brake Shoe American Airline
Anies dgan Cable & Ratio Corp.
| Ameleon Cyanambi Co.
Mer For Prver
Au. Home Prod.
40 cents (374) per ton on Aston & Etrurit bulk cario and 90 cents (7/0) per tor on general eargo,
For each passave Be Welland
Aan Marh & Mory. Aurrican Metal
Am. Sugur ef.
78.70
Lone Star Cement C 184.49 Lowenstein & Sons.
90.58 Mar, ine. Trit Co. 156.94 | McDermott J., Hw
| Melkmnell
Stock
Aircraft
1 Me-abt from th
| Mtu sata Mome
$ 18. Mikelon Developmeni
14
Monsanto Chenticat
Mintgamery Ward
235 Stolarla Inc.
373. National Bisetit Co.
19% National Cay
Reg. "A" National Dairy Proc. National .euci
447)
National Steel Comp
112
New York Central
2321
לין
105
101
300 101 Dock
200 M 41% ..... $145 Provident 42.30 12.40 1,250 g 12.30
Norfolk & Wortem By, North Amer, Aviation North-west Allines (Com.)
Olin Mathiesut
Olin Eixvature..... Owen-Illinois Flas
07% i Oxford Paper. Co.
17 HK and
317 Really
40
Page
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK
New York, June 18. Closing rates were: Cannila:
England: Now
1.03-3/
25-15/16; England: 32.0014; | England 20-days: Zreland: 3.50: South Afrien: 2014- U.P.I.
LONDON
London, June 18.
Closing rates were:
New York Montrbai
Amsterdam Brain Copet nages Frankfurt
Milan Stockholm Vienna
Zurichi
2.00 15/10-2.01
2.70 5/10-2.23 7/18 $13.50 32Ljota M 130.37 1/2-15340 39.33 7/8-19.24 1/8 11,10-11.70 178 1745-1743 1/2 14.48 3/4-14.40-778 72.42-72.45
1.25 170-12.2 1/4
-U. P. I.
COTTON
NEW YORK PRICES
New York. June 10. Prices of cotton futures closed today as follows:
Spot
July
Del.
Dec
Mat
Mhy
July
010
Dec,
July Det, Dec.
30.04
30.1
34.40
U.P.1.
LIVERPOOL PRICES
Liverpool, June 18. Cotton future clodings, in pence per lb. were as follows:
AMERICAN CONTRACT July/Aug 16: Delay: 2000; Decan: 20.15; Mat-Apri May/June: 2015.
MIXED CONTRACT July/Aug: 25.67; Get Nov: 20:30: Dec./fan: 20.57: Mar. Apr: 20.07; May/June: 20.97.--U.1.
RUBBER
Rex
NEW YORK
New York, June 18.
futures today rubber
contracts.
closet 11 to 15 points lower
of 30 with sales Closing prices:
July: 10; Sept: 20.00; Nov; 15.53; Jan: 2500; Mar: 20.00; May: 23 23: July: 25.05.-U.P.I.
LONDON
London, June 1. The rubber market was ten- at lureless with spot quoted
22 5/16 pence per 1. Prices:
22.223.
30.30 30.10-12
3000-01
30.03
27.01
34.0-90
No pul
30 X
Settlement hogo term
Judy
34.47
Aug.
U.P.I.
Sept
Juy/Sept.
Oel./Dec.
Jan./Mar.
Apr/June
Jane, July and Aug. ...**
22-224
Eriate stepė
NEW ORLEANS PRICES
New Orleans, June 18. Prices of cotton futures closed today as follows
thin July thick July
METALS
LONDON
London, June 18, Prices of matala closed today in sterling per long ton as follows:
Tim spoli £730 b. £73044* 3-month: 137, 13216 at Copper,
#pot: 2016 b, £2057% 3-month
20011200 Lead 2nd half June: 2471 b, 2771 4 Lead 20 holf Sept: 23316 1, 1970: Zing 2nd half June: 2014 0.. £87% en Zine 2nd Half Sepl: 07 1, 25 a- V.P.I.
NEW YORK
New York, June 10. Prices of metal futures closed today in cents per lb. no follows; Lead, July: 11 20b; Sept; 11255, Zine, July: @251; Sept: 9.376.
Ju Sept: 25.3. July':
Sept: 4.12yD.--
U.P.I.
SUGAR
New York, June 18. World No. 4 sugur futures 10- day closed 2 points higher to 1 point lower with sales at 170 Contracts.
2234-22 Contract No. 4 (work)-July: 3.41; 24,621 | Sept: 343; Oct: 344; Mar: 3.30; May: J.30; July: 3.36: Spot-icents per Ib. 217-224 fel Cuba: 3.43.
PROGRA
General markida, elf biela, patt
Open Interest: 1,137 contracta. Con- tract No. (domestic)-July: 63; Sept: 581; Nov: 580; Mar: 54: Spot icents per lb. cit NY ex-duty): SED,
2.039 contracts. Open intrest:
V.PL
Another Small Bank Rate
Is Likely
Cut Is
By SYDNEY GAMPELL
Soon
London, June 18.
Cancellation of the remaining half per cent of last September's 2 per cent jump in Bank rate should occur fairly soon. Bank rate would then have been hiked from 5 to 7 per cent in one fell swoop, and eased back to 5 per cent in three deliberate steps since March 20.
As the major overens Bank But as Britain has the nost
rates have been slashed since Important of the commodity
restored & per markets and of all Bank rates, New Loan Wins
last summer, 21.30 cent rate in Britain would
be
The passing of the crials Bank retulively higher than t wasrale should at least allevinte une then, and should be correspond-of the handleaps of the
modities.China Mall Special. ingly more effective.
prompted
sensationalist Bank rate has been well and truly reversed.
seven per cont
501
LAND, ETC. 45K Hotel 21.10 21.30 ma
B00
21.30
1200
50%
300
21,30
6321 (Humphreys
13.30 131
100 (33
.....
1.6523
16,000
7.05
15,000
1.05
Amerr Smelting
RUBBER
The run
Aloh only,
Aenean Tel & Tel
ĮTA
CU
Amalg Trust
1.475
1.30 10,000
1.50
1.325
1.35
150 1.30
on sterling which the
A T
400 (135
rpela regi-
| Anatenda Copper
Steel
Ponille Gas & Elec. Pan Amestown Almaya
A. Ta
1823
Sungute
1.00
SUNY
UTILITIEN
Balin-Lam-IF
3016 Penny J. C. Cu.
Star Ferry.
12
24
Pern. Salt Cu
512
Yourmett
$7!
For
way
11:0 a journey part of between Montreal and Lake Ontario which will
Bendix Aviation Comp. Beguet Con
C. Light
17.00 17.0
Procter & Gamble Cờ.
1
Electric ....
24.20 PUT
1,100 28.45
Pittsburgh Phte Glas
BO
Puicker frie
Macao E.
to 00
30*
iz-
Telephone
21.20 27
100 2735 1,000 27.43
seven lock in all
the
73
INDUSTRIALS
461
Amoy Can.. 3735 STORES, ETC.
the toll would be JANT (two pence) per geons terrd ton, two cents per ten m bulk cage and five cents (hve pence) ou general cargo,
ean Electric Co., which is pro- clude
minently concerned in building user would be charged for atten reactors. Esm, closely associated į lock 15 per cent of the full fo
been the full trip. with Standard Oil, has negotiating with the Newport News Shipbullding Co. to con-
tasker being built verl them to nuclear propulsion.
Brilish hipowners believe It will be six to 10 years before nuclear Aips enn-be vennsmic.
Planes Books Of
For a trip part way through
a Vessel for the Welland Canal,
would be assessed 50 por cent of the full full regardless of the number of locks used.
Words Get Bigger ·
S airplanes get bigger A and more complex, sa
do the "books of words" that go with them.
has
manual who
Commercial vessels carrying py-sengers would be charged 50 cents (4/2) per passenger for each lock between Montreal und Lake Erie, in addition to the
oliter charges.
50 YEARS
The authorities saldi their
respective tolis committees con- tech clue
would pay if the seaway in- vestment about $471 mon dellars (about £187 million)- within 50 yours,
Anner
11altimore
Bencheint Finance
Paramount Pictures
121 Tarke Davis Con
BAT Phil Stor
1
NEW YORK
COTTON
MARKET
New York, June 18.
Pure Ol
Rantic Corporation
Radio Corp. Prof.
hepuule Steel
Reynolds Metal
Seim Brebuck & Co.
Shell Oil Co....
Salut Beg. Paper
Sinclair Oll
Soenny MoBLON
Selor Alremalt..
| South Puerto Rico Sugar
Tram 20.20 20.00
Cement 2200 23.30
33 Bulty 11.30 17.50
Watson
700 4 11.90
Dark Days
Since the dark days of Sep-
2006 28.40tember Britain has enlarged her gold and dollar assets by more Lian 60 per cent (04 per cent ostensibly, and 60% per genuinely, to their highest level since the Conservatives took oice in October 1951.
140 23
1234 17.38
1000 17.00
120 17.50
1,000 17.00 11.20 11.30 200 11.30 down
3,200 11.20 L. Craw.. រ ថម 17 300 4 18.80 Textile .... Kanyang
COTTONS
4.60 4.70 1.80 7.00 1,000 17.00
181
271%
Southern Co. (The)
1912
Southern National Gas
Southem Railway (Com.
416
Stance resul
Standard O! «r Cul
Standerd On af Ire!.
47
Vibro
14.00
Stendant Oil of J
INVESTMENTS
Sleep Rock Toronto Exge.)
104
Yenstre
3.00
3.00
Cotton futures today ruled Siling Drug Co.
alternatively steady and unsettled around the pre- vious close 023 traders waited new incentives.
At the clero the list ruled eget higher to nine points lower. The market opened off one to up seven points. New Orleaus efowed up the to off 13 points. Uncertainly regarding farm bylation et traders on the ansions seat with some sling fruct developing on a bellef the Senate might write a bill more acceptable
Every type of airplane
maintenance Its own for use by the engineers
The Canadian Toils Committee, keep it Agings.
whose report was endorsed America's Arst prop-jet air-the U.S. Tolls Committee, sug- liner, the Lockheed Electra, now gested that the cartiings beginning to ruff off the produce the Montreal-Lake Ontario sec- tion lines, has a manual of 2,000tion be divided on the bagls of pages.
71 per cent to Canada and 29
110m
It is now being prepared for per cent to the United States,-
to Electra users Reuter. distribution later in the summer. The in-
struction book has 45 chapters and about 600 separate draw- ings.
Explosive Ship
AN expinaves carrier, Lady
by
Lid for
U
to
Nine Japanese Ships For Indonesia
ministration.
al!
under
New
the ad-
Was
MISCELLANEOUS
Ale..
BIG U.S. GOLD
OUTFLOW
By Sydney Gampell
London, June 18.
cent
Simultaneously she has paid some of her sterling Babilities, an Indio, New Zea- land and other hard-pressed countries have drawn on Uici sterling balances. These balances, which are essentially the relie of war debts, have turned out to be an invaluable help to international quidity and payments. Without them, A large part of the world would not have known what to use for money.
LA
So in contrast to the past occasions when the gold and dollar assets were enlarged, if at all, only at the expense of enlarging the sterling liabilities -the effuntion this time improved from both sides.
comm-
INDUSTRIALS UP ON LONDON STOCK
of
MARKET
Good Response
Paris, June 18 France's new loan drive has successful D fast and
in- reports
taken start, unofficial
dicated today.
million franca
About 4,000 (about $12,000.000) gold ingots and
worth of colna are bom lieved to have been sold by private helders to subscribe for The 3.5 per cent gold-Indexed public loan during the day.
Arst
seven weeks
Beaking circles said: "Our London, June 18. Impression Is that the loan is The outstanding feature of going well. even more rapidly the stock markets today than the 1952 Pinay loan, which was the marked strength was closed after
of sales."-France-Presse. industrial equitics which were given a con- sidorable strength by the Chancellor of the Ex- choquor Mr Heathcoat Amory's ·announcement last night of on increase In the initial tax allowanco For certain farms of capital investment in in- dustry.
Also, with Thursday the cus- announcing tornary day for has bank rate changes hopes were high that there would be n downward
Lotmorrow change The "enati ratio" of sterling and this made git-edgeds firm, Germans and Japanese in the At $1.191 million in the past fifteen weeks, including as the mola international cur-
$1,092 million in the past three months, the outflow of rency is still far too low, but foreign bonda made good head-
It is far and away stronger than woy. US gold has been faster than in any equal period of Jast September: even the great outflow that followed the devaluation and undervaluation of sterling and other European. As on the currencies in September 1949 and the subsequent out- would be propounded us only a break of the Korean war in mid-1950.
...
the
Whorever
you'ro going...
EUROPE
USA
of wote and
ORIENT
Golf shares were
quict bul Just occasion in the underume was fim, Free
a number cut staters showed May, another Bank rate
good
Kains. Coppers technical adjustment
no irregular but ins, leads sort of anti-depression measure zines showed up well, or "green light" for economie
Olls remained subdued but relaxation.
and
A Gosture
the leaders were mostly betler.
a industrials buying "wcG not heavy but with stock In short supply it look only
the
To the extent that they are slightest demand to lift prices. anything more than technieni,U. P. I. Bank tote cuts are a gesture to
Exchange Rates
ROUND
THE
WORLD
You can fly thorn on the world's most
Otherwise, trading routine and devoted in part to evening-up in the July delivery before first notice day on Tues- day.
In the first teen weeks of method of monetising the US that nuvement-couting from national debt. open position in July the absolute peak US guld stock Tho Loday
With all that, the tutalité 122,100 + bales,'
US gold Certificated collon available at $24.891 million on Septem-
ber 21, 1049-the US gold losses lessen in that wild first quarter delivery points totalled
of 1931 were $900 milion, a million, even were only $204 10,854. bales.
comfotably beaten by though a period included the record Reslin, built on the Clyde
The Liverpool marker closed techuleal reversal of a previous the $1,002 million of the past the Ardrossan Dockyard
Tokyo, June 18.
the commodity producing coun- | Company
The Japanese Government has relunged to 12- English points huge speculative inflow of more quarter. Imperial
to 568 American than $4 billon of gold whereas It will be Interesting to see
teles which are important ex- supply Indonesia with nine higher, 528 Chemical Industries Ltd, hox
York the present outflow started from how long and how fur
port markets for the industrial ships as part of this years re-points
vold.
present outflow gous. Already
In the text-books, iodiny
if has brought the US gold countries.
Bank rate is en instrument for Business was me In the ig The worl previous three bales bringing
exchange market not for fixed unofficial The nine ships, about 2,500etalled 13,021
US gold stock stock to the lowest level in ben
working capital, billion more than $3
US dollar (per 81) capital. It is supposed to have men at the folowing tex: tons each, will be for Inter-lo al for the season to 5,135,049 months for the The venel, of 400 tons dead-
Felow the
DVCA 1949 peak. 6.939,997 boles last were the first quarter of 1951, ears,
Bome effect on inventory policy, sterling notes (per £1 MacArthur had just ad- Now when weight, is thought to be the first Island navigation. Five will be baleg va
though
stock the present
but little or none on capital Australian notes (per £1... Indonesian rupiah (per 100) .. with a fully-newly built and four remodelled. year, according to the
vaned to the Yalu, free gold York Cotton Exchange.
the $800 million of ship of her size
Includes
Siam ticul (per 100) The pine ships are expected alloy
about $44, Zarich and old that the aluminium
US bought from investment projects. streamlined
Singapore (Strmita) 10 cost approximately $(US) 7
Volume Open Interest Hongkong fearesi a blocking of Blonth stream-mililon. The
The text-books ATO not superstructuro,
July
their dollar assets (after the the IMF Inst year.
and lining is up to passerger liner
Japanese
Indonesiano.
necessarily up to date and
China's) and stublard and the use of alloy in
unill the US, and Germany eat Agreed Merchant Rates omefols are continuing diagus-Dec. place of steel has saved a third
on the supply of other Kay
re-expand their economies and
* Canadian & Maximum Selling, och Airways, Ene, knowgormoni la In addition she has Japanese in weight.
goods to Indonesia
stop slashing thale inventories.
Do 15%; Minimum Buying, 16% prices may Polythene pipes and plastic lined under this year's reparations
commodity derive much positive beneat | T/T, 16 15/16 Q/D. accommodation for officers and
programme which is to total $(US) 20 million.-Router.
flooding system incorporated
in her design to be brought into parations, the Japanese, Foreign futures. cution exports
eparation in case of danger.
crew.
Minister sald today,
jons
Raw
122,100
9,000
240,000
9,000
190,000
Mar
1,800
113000
July
Oct
3.000 196,300 1.800
$18,000
Dec.
2,100
30.000
-92,000 2,500
190330 bales
UP.I.
was
Include Britain's redervem blocking of Red the culmination of the wild $811 million of IMF and Ex- Bank money, but the scramble for raw materiala was im pouring dollara rod until depleted US gold rosters also 1000 million of the the Federal Reserve stopped it include dead by stopping to the IMF's-China Mail Special
KO
taisμ
20
16.04
12.04
8.30
1.00
experienced airline
For reservations, call your travel agent or Alexandra Hasse, Phone 37031, Hong Kong
PAN AMERICAN
The State of Mom York, Uldig with liminal liability
·