"
RANSPORTATION
Lose
Boeing 707 May
Race To Comet IV On Atlantic Run
THE
London, Sept. 24.
United States Boeing 707 may lose the race against Britain's Comet IV to operate a first Atlantic jet airliner service because it is too big, it was suggested here today.
The workly newsletter of the
Society of British Aircraft Con-
241uctor end that the TELESCOPIC MAST
factor the 707's greatest advan-
lage over the Cemet - could
נן1
play a prominent pari the FOR MOTOR SHIP
controversy over allowing the noisy jet planes to use Landon Airport.
The Boring has C
and faster
THE CHINA MAIL, THURSDAY, SEPTEMBER 25, 1958.
INDUSTRIAL STOCKS RISE TO NEW PEAK
New York, Sept. 24. American Telephone & Telegraph stock rose to a new high since 1946 today and helped lift industrial shares to a new record high.
The
ADVANCES
IN LONDON
London, Sept. 24. stock today resumed
was no
in advance after yester- day's pause. But there widespread ad- vance in prices, Thiuse markets which 1307-
the direct come under Influence of Wall Street, such in dellar stocks and oils, went THE Aberdeen shipyards at in fine with yesterday's
of the Burntislondike in New York. weight of 248,000 by against group have just completed the Comet's, 182,300 s
There was a fair investment two ships-the motor ship! the Comet can climb
glit-edged with demand for muiding less noise over ground. Camberwell, the newest of fractional gains, mosly of 1/18
three the Thames colllers which | but Transpert TRIALS
percents Sterlings continued was built by Hall, Russell rose Va. and Company, and the srength and hopes of a bank motor trawler Aberdeen Dis- tributor built by Alexander Hall and Company.
The Camberwell, the last wt à
hullt des
the South
was
en 707 Visited London Airport recently for nolao trials fested at a restricted weight of 190,000 lbs, but the elig earning capacity would be questionable" at such weight, the newsletter said.
With a full load
i1 would climb slower than The Cornet, causing more noise,
Pan American intend to latench the Boeing on Its New York-Paris service. on October 20.
for
rale eu helped the market.
.
Rallroad (sues poached a new top since August" "of lest year. And the general stock "market average was at its best for more than two yea»,
American Telephone touched $195%, up nearly three pointa After a rise of nearly four polina Festerday. The issue was at ile bust for 12 years it sold es high as $20014 1940 and his its record high at $3191⁄4 in 1928.
the
Strong Points Numerous individual strong points dotted the st with thon als of two to more Ihren polnts. This
group h- cluded Inland the vicels, US, Gypsum in the building equipments, Eastmann in chemicals, and International electronics. Telephone in the Merck lost two in
the drugs and 3. C. Penney was down more than two in the mer- tanilles, Martin Co. loot more than two in the alremft. Aveo and Studebaker-Packard vied for leadership In volume,
or "
tolol 1,197 tssuca
traded, 547 were higher, 408 lower:
New York Stock Exchango Foreign bonds were mostly featureles except Greeks which volume was 3,120,000 shares.
New York Stock Exchange were strong on Nato Secretory
bond volume was $4,000,000. Hen Spoak's discutions in
American Stock
Exchange Wall volume was 800,000 shares. Fellected
Dow-Jones closing averages
Eastern Cas Beard us plastic Ather on the Cyprus question.
Dollar rocks
SUN
downl
the nt
weret
30 ilustrain
20 rails
15 utilities
IRREGULAR
bulk heads and intags. She is Street's improvement but fitted with a telescopic mast and
premium short funnel so that she can
14 per cel. casily navigate the pelver bridges on the Thames
The
British Overseas Airways have
Aberdeen Distributar is Axed no date for introducing fr
Aberdeen Motor Leading industrial equities re- their Comet IV but trying, Trawlers Limited. She has shamed to favour and were to get the airliner into the air room of more than 7,000 euble sround the same time-Chino feet expacity and her equipment Mall Special.
Includes a codliver oil boller,
PARIS AIRPORT TO AID FOR GERMAN BE LENGTHENED MERCHANT NAVY
UNTIL
Paris.
DOTH
BOTH houses
Вопп.
of tho
TNTIL mid-1959 jet air-
liners coming to Paris Federal Parliament have will land at Le Bourget vir- passed a Bill aiding Gorman part 1hile the major airport, shipping companies. -
o runway Orley, is having lengthened, it has been an- nounced here.
the
|
Fifty per
cut of
arising from International traffic will be Vonsidered as "eunied entirely abroad"
und by 19xA
A Moscow-Paris jet service, with
#### airline at fat rave Under the Bill. Aeroflot's twin-jet Tu1045 land. the rate is let, to the discretion ing at Le Bourgel, has already of the internal revenue offices, been inauguroled.
but a rate of 20 per cent is
The Czech airline CSA, also anticipated as likely in shipplest flying Tulos, is also scheduled | eiretes,
begin regular services to
10
Paris.
The chaliman of the German
Association
12 American World Airways, Shipowners?
sail flying Boeing 707-120 jets, is also Uut the law aneres one of the planing a service to Paris later-major cinims of German Shp- this year-China Mail Special ing companies.
US Flocks
40 bo
Coman future priex index..
|
Bunching Mining
wift & Co. Texa Co.
Textron ine.
Tide Water Aust. Oil Time Ine
Tri-Cant, Warrants
Tech Century Fox Film
Carbide Union Oil of Cal.
Union Pacino Railway United Aircraft United Cas
U.S. Gypsum U.B Line Co
8. Rubner 1.9. meking U.B. Mice!
US Star 1 P.C. PE Warner Bros. Westinghoure Air Brake Western Union Tel. Co. Westinghouse Electrie
West Va. Pulp & Paper Woolworth
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Business done on the long- Exchange this Slack kong morning amounted to approxi. Noon quota= mately $186,0UÐ. tton-and the morning's trans 50.17 actions were:
143,4]
10.23 Shares Hoyer Sellers 102.52
10.74 BANKS
61.07 HK Dank. 747
SHIPPING Closing Prices
mustly better. Otherwise inqus- trials tended to be irregular
AGAT Inc. Azy. with mest rises due to company Allied Chemical
news.
Gold shares nad a quiet coy selective ging but small produced a firm trend. Coppers tended to ease in idle treding Exa1
further. tins recovered Lend-zine lost more ground on consideration of the further implications of the U.S. inport restrictions.
Oils were generally frm but closet below the best. Both
Allied Mills inc.
Allis Chalmers
American Airline American Cyanamid Co. Amer. & Foren. Power Am. Gas & Electric
Am. Home Prod. Am. Mach. & Fury American Metal American Sinelting A. Bugar Ret. American Tet & Te Amerien Tob. "y" Anaconatu Copper Arinco Steel
Armour...
Wheelocks
DOCKS, ETC. sack.. Provident
CHATTER ON WALL STREET
Now York, Sopt. 24. Those international com- modities which should be most sensitive to a spa- filct in the Far East thus far have shown no signi ficant strength. Nor is there more
than a mild improvement in the air- craft sharos. Any upto ward event at this time, strangely enough, would have a high "surprise" - value-W, E. Hutton &
Co.
The over-at market pictures remains highly favourable new we look for further good allon by the price structure--Van Alstyne, Noel & Co.
SUFFICIENT
Employment Has Not Matched Industrial Production Increase
Washington, Sept. 24.
The AFL-CIO has warned that employment has not risen to match an increase in industrial production officially reported to have wiped qut more than one-half of the recession decline.
Tho
Inbour organisation stalement late last sued a Saturday asserting that 7.0 Per cent of the labour force la but
work"Tha highest Un employment 'evel of the post- war peripd, after adjusting tot 'changes, except ↑ „tur seasonal
وان
one month in 1949,
The statement carlier report by
Jollowed
the Federal It serve Board noting wide- spread business plèkup since inst spring.
Most Hopeful
"The reperi, most hopeful Issued by any Federal agency
It is obvious that sufficient ince the recession began, sald "rapld recovery in economic buying power is still available activity continued In August," 10 absorb the profit-faking highlighted, by a two per cent which is bound to appear from Increase I factory and mile time to time in view of the output.
TALKING POINT
1900 5
CHE
1025 $1.99
1950 2.5
markel's recent sharp rise. As prices move upward. These It aid steel ingat production intermediale dips are likely to reached 81 per cent of capacity, be of greater depth, but piso showing more than the usual 1975
ዜ
one per
10
brief in duration-Bache & Co. seasonal rise from July, and production was set for 65 per The whole economy is believed cent of capacity in September. to be once again quick-stepping
The steel boost was registered to new peaks-Newsweek.
despite a sharp drop in autom Air!lace issues svem behind bile industry activity due
shutdown for retolling. the market Waltson & Co.
repust The Board's August Revien net for 1950 estimated also showed higher employment and could Ko among non-agricultural workers: at 3.75 a thure above $4 f last quarter Is
cent hike in retait good one with next year's earn-yates with department store re- ings #t 4.50...Newport News ceipts three per cent above the shipbuilding 1958 net set at $4 previous high because of in-
provements 20 147 and may reach $5 To 5.58 next
year. Curter Products net ex-building.
imated at 3.75 to $3 for fiscal The Bard's index of factory year ending March 31, 1950,
and mine output, based op a against 2.18 previous fiscal year 1917-49 average of 100, climbed
Palne, Webber, Jackson
&to 137 Just month, compared to
32 in April, I was 145 in Curtis.
August of last year and the all- time high is 140 to December 1956,
Bales
303 30.75 200 39!
1320 1.375
1.65 2.000 g 1.023
20.000.
0.7 1.45
173 1.57
3.75 5.90
401
Par
2211
LAND, ETC.
43 432% J 10:30
A
000434
HK Hotel
30.49 20.70
1026
FIFS 2..
43
Itelity
1001
224
Anulo
1030
47
33
Trust
......
153
A. Tuwalt
2.20
1.103
M
00
UTUITIES
107
Fran
24.60 24.00
1391
Young!!
nal
23
Hengueat Cons.
Bendix Aylation' Corp.
6736
Electric
Bethlehem Steel
Boeing Airplane
471%
Borden (The) "Co.
Burroughs Acd Machine
Call, Packing Corp
5241
Canpben Soup Co.
Tol. X.Ris 23.20 23 INDUSTRIALS
Cemenit
21.30
22
Case (31. Co.
STORES, ETC.
Dairy
1012
Celanese Corp.
2015
403%
Watson
10.60
COTTONS
Textile
427
BP and Shell put on a shilling Alla Cons. Mining
and Royal Dutch 1/8-U.P.I.
Industrial Production
Bonn, Sept. 24.
Dalwin-La-Ham,
Beneicial Finaten
Canadian Pathe R.
Cat. Tractor
West German Industrial pro- duction in August was 0.9 per een less than in July but 3.5 per cent more than in August last year, the Economics Mini-Colombian Corben Co.
try announced.-China Special.
COMMODITY PRICES
66-68
B3-321
TORLIGN EXCHANGE
Blanket crepe
No. 1 pale repe
LONDON
The rubber market was dull
with spol quoted
pence per lb.
No. 1 Reappot
|_ Settlement" house dermi
at 24-1/10
Prices;
24-241
24-25411
2434-22% - 2436-2146
2+7-317 General markets, off basis, ports. Eser
Opt.
Nov.
NEW YORK
Dec.
Closing rates wert:
Oct/Dec.
Canadin
1.02-01/10
Jan/Moc.
Helland
2050
Apr/June
4195
July/Sep!.
Brazl
.0047
2105
$100
Sept Dot.
Estate Crepe thin
thick
Oct
Argentina
Indi
Pakistan
Other unchanges).
SUGAR
Majl
New York, Sept. 24.
World No. 4 sugar futures
closed today one point lower to one point higher, with sales of 95. contracts.
Domestic No. 0 sugar closed unchanged to one point higher with no sales reported.
c. T. Finansal Corty. Cluett Peabody....... Colgate-Palmolive Cu.
Commercial Credit Commonwealth Elec. Consolidated Edison Continental Oil & Det Cravin Zelitebach Cuban Amer. Sugar Diamond Alka!! Diamond Match Co. Douglas Alrerull Dow Chemical Dupont de Nemours Eastern ALDE Fastman Kodak,
Pasu National Can Family
Finance Corp. Firestone Tyne Font Muler... Ceneral Dynamies General Flectri
General Foods
General Motor
Rubvor
Ge Tyre & Rubber
40%
45
Gelty bil
Glidden Co.
Goudrid (8. F. Co.
Goodyear Tyre
antin Alterati
242
|
Gulf Oir m
394
11-1
Heysten Newport Cen
Bomentake Mining
genoll-land
Inland Stevil Co.
Inferchemical Corp.
Int' Business Machines inti Harvester
International Nick!!
Star Ferry. 1077 IN
C. Light.. 10.00 17.10 1,000
irts 13.10
100 DI 17 100 4.30 2.09 13.10 70 13.10
201710 Macao E... 9.10 9.40 1,000 A 9.20 B009 20
3.00
MISCELLANEOUS
Entert INVESTMENTS
Allied
C. Mac. (Ord)
10.10
100 m 10.50 1,000 10.33 LOU 10.40
50 or 33
Chicago Grain Market
SITUATION
123
How
Anderson Prichard is one the more
of
interesting situations
among the
Integrated oils....
Unemployment
ig
In
We
home
the
Think Gamble-Skopmo
separate porj, improving siluntion with Labour Department Auld in- earnings comparing favourably sured unesuployment dropped
11
with the 1.49 of 1957 and an Increase in the dividend may
be in the making-Reynolds & Co.
Reynolds Tobacco expected to show over $7 a share against G.15 last year and current 3.00 dividend could be raised to 3.80 next year....Royal Dutch is test favoured stock bought
by investment companie Herria, Upham & Co.-U.P.J.
SIMCA BID FOR
U.S.MARKET
10 an eight months low of $2,085,000 in the week ended
TW Aug. 30.
was 95,400 be- low the previous week. The Department added that jobless benefit claims dropped by 12,200 to 202,000 in the week cnded Sept. 8.
new
The AFL-CIO said that in manufacturing industries "where rapid increase in production has been reported," employment had gone up "only" 110,000 since Aprit. It said this was a guin ut less than one per cent after decline of more than nine' per cent
The
nated
that
SINGA
ESTIMAZED
3.8
2000
-ESTIMATED
6.3
Billica
GROWTH OF WORLD POPULATION 1900-2000
New York Cotton Market
New York, Sept. 24. Catton' futures moved irre. gularly today in moder- ately active dealings do- minated by evening-up operations in the spot cation October delivery. At the close the list ruled off Tho right to up one point.
market opened og 17 to up New Orleans three points. closed off six to up two points Issuance of tenders for 7,200 bales brought an opening spurt of liquidation in October, but with indications that the lenders by were being taken Memphis interests atxt other trade accounts, pressure on the markej relaxed.
PRODUCERS
Producers
up
of long staplo Reserve Board's report cotton and trailles milks urge output of both the Agriculture Department not durable and non-durable menu to cut 1850 acreage substantial- factured products and mineralsly predicting a sharp Increase continued to expand last month. In business for textiles, Froduction of electricity reachett Buying in the later deliveries a new high. Cool and crude oil continued to be influenced by production rose more than five reports of delayed gloning activi
tes, because Paris, Sept. 24. per cent during the month.
of wet weather France's third largest motor culpan advanced during rent in Sentral belt sections.
Industries producing capital and complaints of serious boll car manufacturor, Simca, et months, according to the of 10 to 13 points and 710 to The Liverpool market closed would aim at selling more report, contrast with declines
New York Chicago, Sept. 24.
than 60,000 cars to the is output of production equip
futured. United States in 1959, tha ment during two previous" re Grain futures pricos ad-
Naw collon exporty for the company announced here.estions.
sceson talled vanced into firm ranges
601,318 balon It súd money markets
vs 699,793 bale shipped at the carly today and closed in
through This programme was usta- tightened at the blished as a first result of the short-term interest rates climb.me me inst year, according a strong trend
to the New York Colton Ex- close on the Board of fim's
co-operation ed "very sharply" from mild- change. Trade.
agreement with the Chrysler August to carly September, and Mont Moter Corporation aimed at commercial bank borrowings Oct. Soybeans shot bigher in reinforcing sales of three of trom Federal Reserve banks Dec. response to Far East develop the French firm's basic models ments and only a gesture of the Aronde, Vedette and Ariane hedging pressure.
rocent
August,
829 polres under
Volume Open Interest
0.900
00.300
8,000
305,300
care.
Sime
would thus take a
May Common stock prices were July reported the highest this year, Oct. Yields
Dee. on long-term govern- постав bonds approached leading place among European matched 1957 highs.-U.P.1.
rose.
Mar.
10,000
210,100
14,600
282,400
11,700
159.700
4,500
189,900
2.000
121,300
Mar
con
2.000
Total
01,700
1,178,700 bales
on
LONDON
Closing rates were:
New York
2.0094-2.8045
Montreal
13.10-10.1
Bruttels
Frankfurt
Parte
Stockholin
Vietna
Zurn
11751-1176 14.473 -14.45% 71.30-72 30 12.2014-12.2098
Others unchanged.-U.P.I.
RUBBER
NEW YORK
Rex rubber tufures closed in- day" unchanged to 70 points lower with sales of 31 contracts.
'Clueing prices.
Sept.
AMSTERDAM
the rubber market
2000
29.00
20.38
was dil
dodoy”. All prices were unchanged.
SINGAPORE
The market opened amDYNÍ
the previous level, and ruląd
10994 Dec. 1M1) 19278(2) 194-35
the American exporters 1003
com- market, 1003
the company's 150%-% munique zald and thr French motor industry whose sales so 123-1254 far lagged behind there would catch up its delay with English and German motor firms, -- China Mail Special
Contract No. 4 (world)
International Paper
Prices per bushel i cents: Wheat No. 2, red
in Tel & Tel
Spol
Oct.
3.48
Kaiser Industry
132
Jan.
3.60
Mar
Kennecott Copper
Kang C. Power & Light
MAY
1.48
| Lggott Meyip Tob. Co.
May Juli
COTTON
July
5.48
Lockheed Asteraft
Corn, No. 2, yellow
Bept
3.43
Loews IncDED, THE
Spot
, Spot-cents per 15. fob
Cuba)
5.02
Lone Star Cement Co.
Dec.
3.40
McDermott J. Idy
NEW YORK
Open interest; 8,970 contracts.
Contruct No. 6 (domestic).
Lowenstein & Bo
McDonnel
Aitonal
Book Bege).
Mar.
Des. Inew)
Mar.
11014 120 1107-117 12041
Measul fron Corp
May
1231
Jutr
1201
Prices of cotton futures closed
Nov.
Minevracia “Mining
Ryo
Mar.
6.20
Baston Development
today as follows;
Мму
8,73
Monsanto Chemical Co.
Des
13324-
July
8,13
Montgomery Waru
Mar
1351%
Sept.
8.10
Motorola Thʊ. ".......
Oats
Spat-cents per 1b, er NY
Madlena Biscum Co.
Dec.
ex-duty)
National Cash leg. "A"
Klar.
Open Interest: 1,209 contracta,
National Datry Pro
-U.P.I.
Hallonna Steel Corp),
Spor
0936+04 0754-5% Soybeaus, No. 2, yellow
2201
Nov.
J20
MAT
Spot: 25.80; Det: 35.58: Dec. 36,10; MAT: 36.70; 2tay: 38,40; July! 34.60; Oct: 32.42 Deci 3331: tur: 32.20.
NEW ORLEANS
Prices of cotton futures closed today us follows:
Spot: 33: Get: 35.71; Dee: 30.60: Mar: unquoted; Miny : 36 40: 34.26: Oct: 2225; Deg: Mar: 32.10.
***LIVERPOOL
2131;
Cotton future losings, in pence per lb. were as follows:
American Contract
Det/Nov. Dec/Jan. Mar/Apr. May/Junio July/Aug
Aixed Contract
Oct/Nov. Deo./Jan. Mar/Apr May/June Juty/Aug
23.78
23.03
SAO PAULO Cotton fulure closings,
per klio
quiet with nowow fluctuations cruzeiros Thure "was good interest for follows: lower shpole upd with wellen nother more inclined to meet Merkel' Fair, b0bmvéds remized.
Nov
No. # suling 1ực l). DEL.
No.
2994 rubber unbled
Det.
Dec.
ABBA ABACTM
-ཚ"
were as
METALS
NEW YORK
na
Prices of metal futures elogodi toky in ccats, per ib. follows:
Load Sect
Zinc
DEL Sept
Oct.
Copper Sept.
Tiz
Sept.
Oct.
LONDON
Now York Centrnă Hortolk & Westem ny. North Amer. Aviation North-west Aldrick' Olin Mathieson Os Plevator Owen-loder Glo Oxford Paper Co. Poetio dos & Piec. Pan Americunt Alewny
Paramount Pictures
Parko Davis Co.
Proxy 3. C. Ob.
Perm. Balt Co.
Philip Mat
10,500 || Prvejer & Gamble, Co. 10.23) | pittburgh Piste Cinas
10.020 Publicker Industries
Pura Olbg
* Radio Corporation
tadio Cap.
Republic tee
10.015
tabub
90.60
89.15
Hornoidy Metal
For Loobuick & Co. Big Teg, Paper
Prices of metals clowed today “ndjalt
in sterling per long top at Bobong Hobijali follows:
58.96 06.00 May ...
mailoted
TIA In the United States, the
spot Bamorth average" price of 'one-inch 'cotton Copper get Bast 14 dedignated spot markt Lead
was not available.
Total sales were 17,418 bales, -U.P.I.
LORA
Eine End
Bouth Puerio' Bico Bugar
Bouthern Niljonai
Sleep Rock (Toronto Exge.)
Barling Deŭg
Stokely-Vari Camp. Studebaker-Packard Corp.
May
July
Isarioy
Społ
New York flour
2001
sack
113-123
$13.00
Agreed Merchant
Rates
Pakistan Wants Loan From Japan
Karachi, Sopt. 24.
P&O
R.M.S. "CARTHAGE" NOTICE TO PASSENGERS
SAILS:
Pakistan has formally ap- BAGGAGE;
plied to Japan for a loan
of $50,000,000 in yon, if
was learned hore today.
It was
understoot that the Japanese Government has asked the Pakistan Goveniment to Swiss Francs Maximum Sell-supply a list of profccia ing 76. West German Deuls which the loan would на themarks Maximum Selling used. It was though hede that the loan would go primarily for buying Japanese machinery
17 19/10..
Exchange Rates
Friday, 26th September, at 12.00 Noon for the UNITED KINGDOM, vin Singapore, Penning, Colombo, Bombay, Aden & Port Said.
Passengers are requested to send ALL BAGGAGE to the Hongkong & Kowloon Whart Cola Gedown No. 2 GATE, CANTON ROAD ENTRANCE, by Noon on Thursday, 25th Septem- ber, 1958.
for SPECIAL NOTE: With the exception of hand packages carried “by 'passengers' 'thamsolves, ALL BAGGAGE must pass through the Wharf Company's Godown for. loading on board by ship's ́slingu pnly. Passengers should embark between 0.80 and 11.00 am. on 20th Septeita- ber, 1988.
to bo employed in the cnnumerated projecta.
Earlier, the Japanese Finance EMBARKATION:
reacted favourably! Business was done
In the focal Minister undifesa exchange market this when the question of â“Jäjänpas morainst- of the following rates...
loon to Pakistan was broached A loon along similar lines was || Biering notës (per 21)...
India Australian notre (per
E gradited to 1).
by Japan Indonesian monish (per 100) ..
carlier this year. Fratico- 181% | Blaen ticals (per 100)
Klegspora (fewith)
Presse.
24.70
Subject to alteration with or without notice.