RANSPORTATIO
Funnel-less Flagship
Queen Juliana of the Nether- lands, launched the us Rotter. dam, the new flagship of the Holland-America Line, at the yards of the Raiterdam Dock. yard Co. recently.
10
The ship, which will have a
tonnage of дрота
37,000, weighed exactly half this
Her keel was the launching. laid in mid-December 1955. 748ft, long, she is the largoat passanger ship ever bullt in the Netherlands, and he twelve decks with accommoda-
irt tlon for 1,400
first And tourist cisas.
Almost all the rooms have private hakta, shower and tallet, and the ship has An Interlor
and open swimming pool. The ship is air-condition- ed throughout.
The Is Rotterdam is the first major transatlantic passenger ship
traditional without the
funncis!
In
Bhet oxpected to make her Malden Voyage the Autumn of next year.~ Central Press Photo.
Comets' 5 Million Passenger Miles
TIVE and a half million
FIVE
THE CHINA MAIL, THURSDAY, SEPTEMBER 18, 1958.
PRICES SUSTAINED ON WALL STREET
New York, Sept. 17. Wall Street was betting on a new wage contract for Ford which would legitimate a walkout of duration. This feel- ing sustained the stock market with a sized volume today.
Continental Ok of Dei. Crown Zebærbaçtı Cuban Amer, Bugar Diamonų Alkali an Diamond Maten Co. Douglas Aircraft Dow Chemicals Dupont de Nemours
There were a few soft spots | Consolidated Edison which brought the industrial average dava after it had hit new word high at mid-season, The weak, issues Included Du Pont, Goodyear, U.S. Steel, and Bethlehera Steel. Their losses Vinged to two points with Con-astern Airline monwealth Edison dipped in the utiliosa.
Meantime strength appeared In a number of locks which
rese three points
tils
or more in
group including Zenith, Schaley, International Paper,
and others.
Held Well
Several oils het well after that group had shown strength rrow
noon, Royd Dutch featured in volefie. Inierna- tional alls held gains better than the domestic.
A block of 23,000 shares of a brondcasting company WLB
severul transacted l
other large sales were made during She session
and shortly after the opening the tickers ran late for a brief period, Lorflard ran up after the company made
a special announcericht.
Parke Davis tell three points in the drugs, International Business Machines lost two after setting a new high.
Of total, 1,212 Issues traded, 525 were lower, 472 higher,
New York Stock Exchange
GERMANY'S A-SHIPS volume was 3,700,000 shares.
READY IN 1961 THE Gorman
marchant flect expects to have its first atom-powered freighter
1961. some Hmo in
Herr Thomas Entz, a Rendsburg shipowner, is allowing freighter ho ordered from the Kiel Howaldt shipyards to be used for an experiment.
New York Stock Exchange bend volume was $8,620,000,
American Stock Exchange volume was 800,000 shares.
Dow-Jones closing
were!
30 industriala
20 rails....
to utilities
* Nicka
0
The four coastal States of Hamburg. Bremen, Lower Saxony und Schleswig-Holstein have set up a committee to study the development of a power reactor for merchant vessels.
and eco-
o
Nuclear scientists nomists in Germany belleve that foreign
ture so far companies abend in the development power reactors that the Germana tould not keep up with them Even if they built foreign in- stallations under licence, Be- sides, they are afraid that the Germans will never see the intest foreign developments and. therefore, never brenne Coți- pelllive unless they develop reactors of their own.
40 bondy
Er Kodak
El Paso National Gas Fomily Finance Corp, .. Firestone Tyre & Rubber Ford Motor
General Dynamics" Goneral Elecirte General Foods General Motors
Gen. Pub. Util.
Con Tyre & Rubber Getty O...
Glidden Co.
Goodrich (B. F.) Co. Goodyear Tyre Grumman Aircraft Gulf Oil".. Heyden Newport Corp. Homestake Mini Co. fagersoll-Rend.... Inland Steel Co. Interchemical Corp.
1grett Meyers Tob. Co. Lockliced Airerati, Loews Incorp, ...
Lowenstein & Sons. Mebernolt .. Ray McDonnell Aircraft
Stock Exge.) Merabi Iron Corp. Minnesota Mising Mission Developiṇent Monjunto Chemical Co. Montgomery Ward
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
BUOYANT MOOD
CONTINUES IN LONDON
London, Sept. 17, Stock markets opened the new fortnight account to- day in a cheerful and buoyant mood with senti ment given a fresh boost
high.
Pago 9
BRITAIN'S NEW MOVE
SHOWS THE
STRENGTH OF POUND
By SYDNEY GAMPELL
Montreal, Sept. 17.
reflects
Today's further lòng step towards freeing Bri
tain's Imports
the progressive strengthening of the pound sterling.
A few years ogo any auch United States cheaper move would have fooded the they can be made there.
ilon
by Wall Street's all-time | British market with North For cost of living compari- American mochinery because it | sons of their own staffs, many was cheaper.
loading North American Institu tions Take the pound as worth Today, the British authori-four or five dollars instead of reasonably confident the official two dollars eighty that the Imports will be kept cents.
In the
market Kilt-edgei interest
the switched from longs to the medium and short- term-anted þords which showed, rains of up to th."
STRENGTH
are
down to the limits that can be alforded not by artificial
The strength of Industrials. restrictions but by the com- was the best feature of the petliveness of Britain's own day although closing prices | goods.
were below the best in places,
due to prodt-taking.
or so,
Being Better
Concession
The new concession
applies
to the United States just 13
much as Canada.
It would have been lampos- While virtually all the in-
|ble to discriminate between the dustrial groups joined in the To the extent that the dollar two dollar countries, it meets
the the are preferred in Business done on the Hong-advance gains cften extended good
point which has to n Stock
shliling Exchange tia kong
British market by being better troubling many minds this Kaffics were firm under South or cheaper than British morning amounted to approxi-
or Britain did not restrict mately $490,000.
Roods, the new fin- goods from Germany Noon quotn-African Inẞuence while tions and the morning's trans-monds also improved. Coppers ports will help further to keep restrict them from Canada
responded to próspeels of metal Britain competitive. shortaxe H the Northern
netions were:
165 | INSURANCES
Provident. 11-30 11
dla-GermQ41
boen
that
such
but did
although the German currency is fully a strong as doller6.
It also goca for to meet plea
tho by
Canadian Finance de-Minister, Mr Donald Floming
Rhodesian strike continues. As a result, the decontrol of hardened but tins rauned salmon probably means Lead-zlars 29 + 753
more to Cumda than the but control of all the machinery.
agricultural Shell Industrial, fer tured with a rise of 3/15 to 148/3. Royal Dutch at 183/6 was 13/32 up-UPI.
Hotel 21,30 21.30 4500 # 21.20 1000 e 21 20 30.75 2125 1000 of 31
JARY
1.35
Oils had on erratic day
closed higher. mostly
Dividend
143
1071
st
Int'l Business Machines int Tarvaster....
403
7721
Shacry Buyers Sellers Sales
justérnatkozni Nickel
17
BANKS
International Paper
112
HIS Bank
750
Inti Tel & Tel
were dull,
John-Manville Co.
451%
Lombard
.
Kaber Industry
Union
75
Kansas C. Power & Light Kennecott Copper
41
SHIPPING
934
Wheelock
723
DOCKS, ETC.
What ..
1.90 5.05
100
259. 5.05
300 43%
300 a 13.40
363
LAND, ETC
(Am.
32K Land..
70%
Rumphrey's
Really
RUBBER
3814
Trust ..... 1.323.
49
A. Tawah
2171
Sungala
1.80
18412
UTILITIES
0512
2110
Star Ferry.
Yaumeld
9914 2455
C. Light
1135 17.40
#74
Electric
123,40 25.00
2404 1030 à 17.30 11525.40
SOO
4468
37
574
*4
Macao E... 030
30
INDUSTRIALS
1022
412
Cement STORES, ETC.
23.90 24.10
21.80
450
1000 or 24
1000 21.63
Dairy
DOTS
280 17.43
0815
Craw
10.90 11.20
13.10
COTTON:
Motorola C......
| National Biscuit Co.
National Cash Reg. "Aixai National Dairy Prod. National Lead
Nailonal Steel Corp.
New York Centra)
Norfolk & Western Ry. No Ames, Aviation North-west Airlines (Com,
Olin Maineson
Olis Elevators agen Owen-Hungis Glass Oxford Paper Co.
Yaelic GRA & Elec. Pan American Airways averages Paramount Pictures
Parke Davis Co. Penny J. C. Co.
625.40
Penn. Salt Co.
138.11 Phillip Morr
60.8 Procter & Gamble Cv. 1880.30sburgh Plate Gla 03.04 Publieker Lustries
Comm. future price Index. 151.3 Pure Oil.
Allis Chalmers
Indio Corporation Fadio Corp. Pref.
Sinclair Oil
4512
00
*
Amalg 1.63 1.075 3000
70
123
The Douglas Steamship Com- pany, Limited, have announced 1.073 dividend of $40 for the year
7.93 endlag December 31, 1957.
1.35 135
Tram 25.20 23.40 1500 25.00
10 130
Watrou
200 25.00 570 23.00
17.30 17.40 2500 m 1131⁄2
Textile
MISCELLANEOUS
INVESTMENTS
3.65 5.7%
18
Exchange Rates
95
10
Ch. Ent
301
Allied
Closing Prices
Republic Steel
DO
Raynolds Metal..
Scary, Roebuck & Co.
Alden Inc. Acy. Ained chemkeats Allied Mulla ano.
$20
Shell Ou Co. ...
559
Salut Reg. Popor
401
3314
Secony. Zdoblieit
A. Brake Shoe
41% Salar Alteraft
10%
Business
Was
American Airline
22
South Puerto Rico Sugar
201
tinoliteial
deue in the local expiange market
American Cable & Rake
Сохра
Southern Co. (The)
314.
morning at the following rates:-
6
American Cyanamid Co,
Power
19
312 Southern Itallway (Costa)
Standard Brand
Southern National Go
20%
U.5, color (per $1),
40
Biering notes (per 1
16.02
Australian notes, (per R1
12.보지
Am. GA, & Eletric
Indonesien nuptan (per 100) ..
$1.00
101
Standard Dil of Ind
47%
Slam teal (per 100j
20.50
Standard Oll of NJ.
Bingapore (Strait)
251
Step Rock (Toronto Exige.)
4674 | Sterling Drug Co.
33% Stokely.Van Camp.
Amer. & Furg
Am. Home Prod. Am. blach. & F'dry. American Metal
American Smetang Am. Sugar Ret. American Tel & Thi American Tol. "H" Anaconda Copper Anned Steel Anw
Atlus Cora. Musing Baldwin-Lansa-Ham, Baltimore, de Olmo genericial Finance Bendix Aviation Corp. Benguet Cone.
Bethlehem Buel
Boeing Aeroplanie
Borden (The) Co Burroughs Add Machine
Herr Entz, who believes in the miles lie behind the future of nuclear power for ship- RAF's small flact of ten ping, ordered Howeldt recently the freighter's con- Comet 2s, oquivalent in dis- to charge tance to 1,600 New York-struction. The ship will be rein-Campbell Soup Co.
forced in some vital places yo
London flights. This was dis- that it will be able to earry the closed in a summary of RAF | reactor with its heavy protec- Comet achievement
radiation. com- tion against
Herr and Entz is confident that the atom-
piled by do Havilland'
Caut Packing Corp. Canadian Pacific R Case (3. 1.) Co. Cat. Tractor Celanese Corp.
431 Starutard Oil of Cal
185
Studebaker-Packard Corp.
84% Sunilne Mining
M4 Swift & Co.
3844 Texas Co.
104extron Inc.
114 Tido Water Amn. QUI
134 Time Ine.
40771-Cont Warran's
34 Twentieth Centrey Fox Fun
514 Union Carbide
Union Oil of Cal.
48 Union Pacific Railway
464 United Adreraft
7314 United Gas Corp.
38 US Foil "B"
50% US Gypsum
44 U.S. Line Co.
יב
US. Rubber
214 US. Smelting
01 US. Stem!
21
1. T. Financial Corp. Chrysler Metors
Clue Probolly
covering the Comets first Powered freighter will make its Colgate-Palmalive Co
two years
bno of service, year in full scheduled pas-
songer carrying oporation.
The Comets
(Rolls-Royce
maiden voyage early in 1981.
PARTNERSHIP WITH
Avon engines) have flown 200 HONGKONG - FIRM
million passenger' miles.
and
carried large quantiles uf freight. They have beer: circling,
the globe regularly from the
Halfa, Sopt, 17.
Packie, vis the U.K. to Australia THE Israel National Ship-
and visited countries.
morg
than 40
ping Company Zim has antored into partnership with Hongkong interests to Almost 100 scheduled return
a now line, a Zim Bghts to the Far East have been form made, half of them to Australia spokesman said here today. or New Zealand. Many more
He said the new enterprise than that number have been Gold Star Lint would Far Eastern flown to Cyprus and the Near operate between East, the recen! Cyprus operation porte, the United States and olono
for neatly West Afrlen. secounting 100,000 calles in a D-day perled,
Tho
employing only seven of the initially Cemels,
TRANS-ATLANTIC
Sevenly flights have been made across the Atlantic and 60 across the Pacific Ocean.
175 unscheduled passenger
services have been flown, many of them arranged af short notice
to meet urgent pital ΟΣ military requirements.
Canada to the United King-
would operate Jius
chartered with four vezels the first
which had alrady saulled from Hong- kong for Africa, the spokesioRN added.
He refused to identify the Hongkong purtiers,
It is understood the Ghana- Israel Line Blark Star will re- prent Gold Star in West Alries-Router.
V dam in 4 hours 5 mins. ot an INFLATABLE RAFT
Colunulan Carbis Cu Commercial Credit Cominenwanith Elec.
UN Lead
US. Bleel 7 P.C. FF Warner BroA.
Westinghouse Air Brake Westinghoure Electric Western Union Tel, Co. West Va. Pulp & Paper Wout worth
& Zinc
Conference
180
and
for convertibilty. office machinery may mean more interested b
to the Unite! States than to
He is believed to be more lifting discrim-
Canada but even in the United convertibility. Slates the competitive boot has believed to do little more than The newsprint decontrol is moved to the other leg.
formalise the existing situation. In many lines, so far from This is the imports of news- the United
under-print to Briah have been. selling Britain, smell care and Imited by the size of the market agricultural tractors can be im-rather than by the leensing ported from Beltain into the central.
States
Spotlight on prices
COMMODITY FRICES
400
J
H
1967
1950
110
RETAIL
108 PRICES
106
104
H A H
The fall in "never-never" charges is a welcome outcome of the launching of hire-purchase loans by the big banka, This is showing up once again the value of competition. It is surprising that while raw material prices have had sleep falls, retail prices have continued upward. This chart spotlights the different trends.
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK
Closing rates were:
Canada
Kingiant oficial
Others unchanged.
LONDON
Closing rates were:
New York Montreal Ainsterdam: Brussels Onio Paris Stockholin Vienga Zurich
Others
Mar/Apr. May/June
July/Aug.
SAO PAULO
Colton
future closings, in cruzeiros per kilo were as fol-
lowe:
Dec.
10.70 May and other unquoted In the United States, the Ta2-11/32 | average price of one-inch cotton
2.80-13/33
280-0/10-2.00-7/16 2.73-19/16-3.74-1/16 10.50-16 139.07-130.00
20 001-2000 117416-1175 14.4734-14.47 7220-240 119-1229
unchanged-U.P.I.
COTTON
By LAURENCE MEREDITH
London, Sept. 17. The United Nations lead and zinc conference, which for the past three days has been dis- cussing problems facing these industries, today decided to refer to their governments the suggestions of temporarily cutting ex-ay as follow: ports and of setting of study groups in the metals.
The 'conference set up a sub committee to resolve the replies un theso of the governments questions and to report their conclusions and to make appro- priate recommendations at a late conference,
which are weighing up on the world trade in these mictals.
NEW YORK
Prices of cotton futures cloșed
dict.
Doc.
Mari
May
July
Dec. Mar.
Sept Oct.
24-2414 2015-2014
Estate crepe this Oct,
thick Get......
V.P.I.
METALS
Docontrols
The colonial decontrola re- main to be worked out but the short position is that British and Canadian goods will now have to compete more on their merits. For Canada this would be particularly Important
in the Wcs! Indles with which Canada has very close trade end banking connections.
The Brish Inally
proposal
Onishes
announcement
Jast year's an Angio- Canadian free trodo azen,
Ono element of that propost- tion was that British would remove discriminations, against Canadian dollar goods while retaining them On United States imports,
Canada was er shattorod by Inst years Belish free trude
Arca proposal
sho WEA- delighted by todays almost
equally unexpected announce- ment-Reuter.
New York Cotton Market
New York, Sept. 17. Colton futures today
sawed
Bee-
indecisively in quiet dealings.
Closing prices ruled Ava points lower. The market opened up two to four higher, New Orleans closed up one to six points.
Operations were given ower mostly to evening-up in the NEW YORK
October delivery, anticipeting Prices of metal futures closed | first notion day on September Total sales were 8,241 bales-today in cents per lb. so follows: U.P.I
at 14 designated spot markets was 34.65 conta.
RUBBER
NEW YORK
Rex
elosed 20 to 40 points
rubber futures today higher
Lond
Bru
Det
Zina
sept.
Copper
SEDI
Oct.
Sept.
LONDON
10.000 10.096
24. Other traders awaited the government weekly report on joan impoundings.
Mompisis brokers absorbed 0.855 October liquidation pgsinst aples 23535 of May contracte. Commission houses were on both sides of the 25375 mariest but were" "wellery"" on
balance in the deferred months. FOUND LITTLE.
91.006 93.75
›
Prices of metals closed, today in sterling per long to us Buyers Bellare
| with sales of 46 contracts.
Closing prices:. Sept: 2.40; Nov; 1910; Jan: 29.20: follows: Mar: 20.10; May: 28.00; July: 28.90: Sept: 10.00.
73016 7301
21314
The
AMSTERDAM
Kipot
-month
930 730
35,063
23.00
'market The rubber
WIK stendy. Prices closed today in gullders, per kilogram, elt Det. as followe:
Copper
Bpot
-month
Lead and hai",
34.08
No. rubber
204 buyers
30.01
Zina ma sit
20.33-37
No rubber
Bopi.
001
Wo.
39.58
No. I crepo
pec
33.50.
2.15
30.63
15.10
30.03
9321 buyer
34 burers
153 buyers
SINGAPORE.
On thin the commubique said:
The market opened slightly "It was getserally agreed that.
NEW ORLEANS
lower on disappointing oversens
advices but steadied" the: Imposition tariffs or im
on short port quotas by importing coun- Prices of colton futures closed covering and new buying and itles would not, from an inter-today as follows:
increased demand for lower national point of view, provide
grades, Tho
No. 1 rubber per ib. Oct. 821-53 It is understood that the rub satisfactory solution,
tariffs and/or
Nov. 83-83); committee is composed of the imposition of
15. Oct. 81-811 No. 1 rubber per United Kingdom, the United quotas by some importing coun-
No. 3 No. 4 logged by RAF Comets UK, to A ONE-MAN reft made from States, France, Belgium, Peru, tries would lead to diversion to Mexico, Federal Republic of other markets with depressing Singapore In 17 hours 55 mina, UK to Brisbane 17
26 been developed by a company Germany, Australia and Canada. effects and would be bound to have adverse repercussions on hours 20 mkis. and from Christ, in Westphalia, Germany. "The
international trade generally,"" mas Island in the South Pacille brighe: yellow raft is 3 feet 8 to UK, in 20 hours 40 mins, are other examples.
average "peed of $10 mph. is
one of many tast flying ̈£lmes
bu
and rubber perion
inches long and 8 feet 6 inctres
wide. Ita tubes can be blown
up within seconds with the
Opposed
Bpot
Oct.
Dec.
Mar.
May
July Oct. Dec. Mar
938282282
LIVERPOOL
Cotton futuro cloning, it was learned that this point - of view was very strongly pre-pence per lb. warp as follows
the delegations of The communique issued at @nted by
•Americki. Osusiyat Strateghe mobility at high speed and in comfort is ald of carbon-dioxido CAT- the end of the soufgrence | Peru and Mexico who argued indicated that hp sonterenca that the imposition of such by now enjoyed by Army, Navy and tridges. Air Force alkoin
It weighs only 61b., Alling came out strongly opposed to the United States wʊnki baye pressurfred, comfortable military equipment Included. When he impotipon, et tariffs or dimitrous, effèdia upon Comets holding a Civil” Cep-stowed, away the raft mepmirce importa quotas as a solution comprales of their soumirlos.-—-—---- Hicate of Airworthiness,
ordy 8 by 8 by 10 inches,”. to the problems of over-supply
fully
the
in
Spet rubber unbaled Blanket crepe No. 1,pale crepa
LONDON
1819-a
L
-
91-035
$7-55
The rubber market was steady with spab quoted at 24 pence per ib. Prices:
No. 1. Tak spot viena 24-9656.
Bettierent" - hrano terms; Oct....
Noy
Deg
Oct/Dec.
Jan/Mer.
Ganeral markets, eit baule, Corts,
SPCAR
New York, Sept 17, World No. sigur fatures elpad one point, big?me to two polowar with sales of 217. Contracts.
Domestic No. 0, sugor futurès one point lower to one point higher with no miss reported. "Contras No "4 (world) at a Jul: 3401 Spatz 2.461 Oct1 340:4D: 248) YAR: 2.45) Off 40 ppt Comm per 1. fob
Contrast Nb, 0 (dornoside)
Traders found Uttle in the nowe to influenće príbag. The textile, market remained gules. Crop news continued metly favourable, although reing over westeyn socilors caused congem over the posibility of dijyed hervesting and dirnage to the grade of open colton in that Orig.
The Lympool market closed 10 to 17 English points lower and 737 to 846 American polita Archer New York futures,
Haw colton exports for the season" tofalled, 423,291 bolės va 434,043 balon by the same išme last season, according to the New York Cotton Exchange
Open contracts in October today totalled 85,209 baler, Tho carlifested shock core. 938 boles to 48,181 bales, setting a new high." The steady rise in the micek
traders October deliverina,-U.9.[2
called
Ford-UAW Agreement
Dewpli, Skyt. 17. Ford Motor Co. · szt Valbed Auto Workers' Lanton
workers is the Erschi