IMPROVEMENT IN WORLD SHIPPING
Washington, Nov. 26.
ORTATION
FLIGHT RECORD FOR BOEING-707
THE CHINA MAIL, THURSDAY, NOVEMBER 27, 1958.
Page U
No Economic HONGKONG Stocks Have Large
Conflict With Britain
Bad Kreuznach, Nov. 26. France and West Germany ruled out any economic conflict with Britain in talks here today between Chancellor Konrad Adenauer and French Premier, Charles de Gaulle, French sources reported.
Bell utform agreed to work
Now York, Nov. 26. OMMERCE Department DDAN - AMERICAN World
Deco P
to Airways claimed on Monday indicated some have set up two new records racent improvement in the with its Booing-707 jet air-ut a definive settlement In world shipping situation' as meatured by ship clearances of US ports, and volume of total import cargoes to the United States.
finers for the flights from New York to Shannon (fre- land) and Now York to Paris today.
11
The flight from New York. to Shannon was made Experts consulted by
loopine 28 the hours, 39 minutes,
the from
parvus United Press international sald minutes
toward that a tendency
marcord, alsu set up to Boring provement In the world shy-107 on Novenler 2.
hug been junt situation parent
-
The
plane, carry IK But ssengers, and assisted b A tall wind of 15 miles an hour, nyuraged 500 miles per hour for the night.
sace mid-year. they were not yet posed predict a general upward trend on a scale which would esuso large numbers of laid-up vessels to the sens. They return
1.
waited further evidence of a neral improvement in intema- Tunel trade valuations. LOW POINT
The law point in ship caTRIS
renched is Was apparently
the stue LN58
in February Reneral Industrial recession in
the United States during 1957.
was
ht
52
བྷཱཝཱ༎
וחו
The New York-Paris
ini made
6 nin minutes minutes, then the previous record set up
other Boeing 707 by November 10 The plane cutried 100
f1 average pussingers. speed, with a tall wind of 45 miles an hour, was 507 miles per hour-France-Presse,
An unexpected feature of the American Ship's
recession was that affected
Maited
merchandise States
exports more severely than tm-Nuclear
port trade.
Reactor
The Commerce Department THE development of stallaties today disclosed that
Good morning, gentlemen. I come from the Inlated Reventow.
the shipping weight of United States merchandise imports by dry cargo vessels and tankers In June 1958 was 31,625,100,000 pounds.
This compares
pounds
23,080,200,000
February 1058, and ย
widt
1957
boiling water reactor system which may be an im- toward porrant advance making atomic-poworod ships compatitive with convcn- tional vessels is announced in the United States.
The announcement was con. tuined in a report to the second nuclear ship symposium spon- sored by the Maritime Adminis- and Atomic Encry
tration
Commission
The new 22,000-shaft horse- power system is sald to cost 40
less than the per cent
fres.
surised water reactor plant. which being installed in the Savannah, the world's first
the between trade relations six-nation Common Market ́ lo which they belong and the rest of the world.
Fur
The sellervent would call a multilateral Basociation
Market between the Common and the 11 other members of the Organisation for European Economic Co-operation, (OEEC).
Modus Vivondi Moreover, both nations hope
to reach a modus vivendi with the big General Agreement on Tariffs and Trade (GATT) by extending to all GATT bers the 10 per cent tariff re-
which duction
takes efect when
Lite
me-
Common sturis on January sources sald.
1.
Markut French
Market
The talks were regarded as a bridge between the Common chairman and the six- con- nation Foreign Ministers' ference which opens on Decem- ber 3 in Brussels.
were
CHATTER
ON WALL
STREET
New York, Nov. 26.
STOCK
EXCHANGE Gains In New York
Our Own Conrespondent
Business done on the Hung-
New York, Nov. 26.
Stocks today registered their best advance in exactly one year. The gain eclipsed anything since November 27, 1957, the recovery move-
ment after President Eisenhower's cerebral occlusion.
hong Stock Exchatige this indra- ng amounted to approximately 200.000. Nooh quotations and the morning's transactions were:
The rise started at the open- {C# [11] Co.
Cat. Tractor Shares Buyers Bellers
Ing, gathered momentum of "a Bale A
Dejezvese` Odp. lato ticker" Yorˇa "ume in the 2, T. T. Fatancial Corp. BANKS HK Bank
early dealings crossed those of yesterday. INSURANCES Union
SKIPPING Wheelock
DOCKS, EN Duckt Provident..
LAND, FRC AK tel HK Land
740
701% 721%
635
2000 6 5,80 400 $.33
44
10 00
2120 21.30 145 31
30 301
400 30 23 400 0 30
re
Chase, Machat. Bank
Chrysler Motors
Quell Peabody
Colgate-Palmolive Co
With prices up two to tour points In the main list Ola i Godambien Carbon Co. market regained one-third of Commonwealth Eles.
lossca of the previous thred pcasions.
time just before closing For mfid profit-taking reduced The advance in some issues. The
nervous
'shorts bdgar' tovéřính
Comriersial Credi
Continents Edison
O et Del. Crown Zellerbäck'... caban Amer. Sugar Diamond Aŋull
gi Azeratt
Diamond Match Co.
|
Bow Chemicala
Kastem Airline
and the market closed on Dupont de Nemours burst of strength with Hekers running behind,
Upturn
Steels, alls, metals, chemicals rulls and special issues out
stood
Enstnar Kodak
Paso National Gar Family Finance Corp. Firestone Tyre & Rubber Ford Motor
General Dynaarles Gener Electric General Foody.
General Motors Gen Pub. Uu Gen. Tyre & Rubber
Oct: O! - ftern
209
1440
14
Berly RUBBER Amalg Trust
1351375
1.825 1.075
2.08 2.10 (2013 or 2.05
3000 2073
2.03
UTILITIES
Yawmat!
Electric
Light X
2345 20.70 10.30 15 40 24.20 24.40
TELUS1
13 13 20
1500 ₪ 10.30 30024 20 300 # 21.40 99 24.30
3770 13
264 21 20
45 70
upturi.
Gulf Oll
703 7 13 2014 705
Homestake
more
Heyden wiring Co.
Corp
40%
24"
23
206
Ingersoll-Rand
1E3
de-
O
121 12.70 13.40
1100 500
43882
12,00
We believe that an oppor-♬ Tawah.. 2.4726
Lunity has now been pro- Simula vided whereby stocks may again be accumulated at least for a temporary rally. Then agalu, we would not be inclined disturb holdings of stocks Ti which are held in port- | UIDUSTRIALS for income and STORES, ETC. folios
Van long-term gains
Alstyne, Noel & Co.
to
Cement
Dairy
V: ton
1. Craw
MISCELLANEOUS
Ch. En... in to INVESTMENTS
In int
A
All
4,03
F2
BK & FE
Invent
No hard and fast decisions Spiegel, inc. has been high- were taken because that is up by successful in upgrading 11s to the six. But several steps, operations and streamlining its
Earnings
dri wro some provisional, others per business.
upturn with nut envisioned. | pronounced manent, Among the permanent was the expected to equal
exceed suggestion that Hallstein's Com- 2.50 n share this year and even
results non Market committer become better
seem likely in a go-between in between the six and the 11 | International Telephone remains
O.E.E.C.
other France-Presse.
10
Electronics Issues' starred with Texas instrument up five points at its best. Autos Join- ed the upturn as "production Goodger 19. F. Co totals mounted. Losers were Grumman Aircraft
Goodyear Tyre dimeult to and in the sweeping
Hallroad Issues gained
24.78 than half their threis-day cline. Industrials 150 about one-third and utilities
negotiations 1950. Long-term outlook for Exchange Rates
members.
BUYING
SPREE IN
LONDON
London, Nov. 26.
atomic-ixwered merchant vessel. The stock market turned
extremely promising and there is a good chance there may be arise in the current 1.80 annual dividend rate-Reynolds & Co.
Estimates
Boeing Airplane 1958 net estimated at 9.00 and 1959 at 5.75 a share, against Bitu in 1957; Lockheed 5.75 for 1958,
against
5.52; 7.50 for 1959, North American Aviation 3.34
and for 1958 already reported
3.25 In 1959 against dip to 4.22 in 1057 Shearson, Hammill & Co.
but
potential
Bify
Into
Thompson-Ramo 1959 act may down from the 3.20 of 1857 Jong puli company's around smartly today as
teams highly attrac- bargain-hunters went on Live -Hayden, Stone & Co.
Carnation, leading evaporated a buying spree following yesterday's big shake-out milk producer, plans to diver- the drug industry Long-dated gilt-edged socuri. ties Improved, but short-dated sew product "Saffuc," to bonds tended to case.
control the level of Cholesterol in the body. Goodyear has be- gun production of a new plastic developed
the to improve quality of numerous products from cheese spreads to insec Licides-Harris, Upham & Co
The system is said to pluce tonomic performance cap- ability of a nuclear ship within 10 per cent of that of con- ventional ship' and' could, it lɔ Hitle further claimed, with development, bring it to with
A tanker propelled 5 per cent. by the boiling water renefor, 11
Strength Wis particularly is sinted, could have 8 per cent evident in the Industrial sec-
cargo currying capacity tion. Among the standout Issue than a tanker of computable
Tube Inves1- Vickers, were size employing steam propul-ments, Britten Motor, Bowaters, Erilish American Tobacco, Coutaulds and electricals,
more
monthly average of 28,714,400 ton.
pounds. February is, of course,
short calendar month.
of the United States mer-
chandise imports in June 1958,
U.P.I.
Canada Meets
Bank and Insurance stocks were dull.
3.739,600,000 pounds arrived in New Challenge
United States flag vessels und
the remainder in foreign-flag
Dollar stocks rallied after a weak opening. Japanese liens
quiet declined In generally foreign bond market.
Oils
0
Gold stocks were mixed.
with
up many
ships. The monthly average in THE great "white lands" improved THER
1957 was 4,818,400,000 poundly
on United States vessels.--U.P.L.
Dredgers To
Suez Canal
of Canada are being shilling or more at the close-
opened up by a floot of long-
range ice-broakeri.
Widen icopters
More vessels, equipped with and fading-craft, will be ready la juin the fleet next year.
for The man responsible "Operation feebreak," Mr Alec Watson, who is on I visit to talked of develop- dredger Britain, New Jersey has roached ments in the Canadian Arctic.
THE 1.800-ton
Port Said to widen and NEW CENTRES
deepen the Suez Canal
to
to pass through, against the prosent maximum of 34 feet.
Two arrive soon.
other dredgers will
U.P.I.
Singapore Stocks
Dualness Etficted
was done exchange
Steel Co
retraced sterchemical Corp.
InternUbnal Nickel...
int'l Business Machines
more than 10 per cent. The international Paper general averago came back one- third
Iact Toi & Tel ̈R!..
John-Manville Co.
of the setback of three & Luke
selling days.
Of a total 1227 issues traded 920 were higher, 140 lower.
New York Stock Exchange volume was 4,000,000 shares.
New York Stock Exchange bond volume was $5,760,000,
American Stook Exchange volume was 1,770,000 shares.
Dow-Jones closing
In the Jocal
this market
were:
averages
INTRE Coper Kenherst
Liggett Meyers Tub. Co. Lockheed Aircraft Les Incorp.
Lonestar Cemeșii Co.
Lowenstein & Sons. McDermott J. Bay MeDantell Anerali (Am
Stock Ebrare.
Merabi Iron Corp. Minnesota Mining Mirators Development Monsanto Chemical Co. Montgomery Ward
149,13 Mutocols the 159.74
moming at the following rates: US dollar (per $11 Sterling mates (per 1 Australian notes (per £15 hstonesian rupiah (per 100) Sam ticals (per 100) Slegapore (Straits
1.772 industrial 20 rall
12.70
13 80 15 utulien
63 stocks
0.00
40 bonde
20.70
14
1.00
Coman. future price index
153.47
"I think I ought to warn you, Wilpinson. the chairman holds very strong vietos about clock
watchers
London Express Service
COMMODITY
FORLICA EXCHANGE
NEW YORK
Closing rates were: Candalin.
the England
Eigh Swizerland Argentina
Opening
13.07
49/-
2-
Brazil
Truguay
Singapore, Nov. 27. Brokers today quoted following stock prices: Datu Lintang Rubber Co. Mr Watson, director of Ship
Eid Petroleum allow ships drawing 37 foot Construction and Supply, De-British Borneo
Syndicate
Smelters partment of Transport, Ottawa, Conseildetek
Ord said: "By far the largest part of
Front & Neave Ltd. Ord, $1,02 the Canadian Aretie in necha-
Fraser Neave T cum.
$4,13 cl sible to teebreakers in season,"
pres
tiaras Limited $1,7 Gammons Aircraft can open up new Hongkong
Shanghai
$305 centres, but it is the icebreaker "Banking Corp. The work, being undertaken in that must make way for the Hongkong Tin Lid three American companies will}
tor Kumpas Ltd.
Kuala Kamper To oost £7.3 million, of which 70 bulk of supplies in the
Ainay Ribber Estates Lid. 90.80 $2.00 per cent is payable in dollar North, Mr Watson explained.
Canada is building her own Malayan Breweries Operations will take 14 months.
icebreakers but much of their New Berendah Rubber Co. equipment is from Britain,
"Wo are trying to meet the great challenge of the North," "What we said Mr Watson.
bearing on national defence."
The American companies con- cerned are the Standard Dreilg ing Corporation, Allentle Gulf and Pacific Company and the Hawaiian Dredging and Con- aro doing has an important United Engineers Ord.
struction Company.
Feloling in Ltd.
Mfies Hotel Singapore Cold Storage... Straits Tracing
Steatralp
Wetrnie' BroRNALLENGE
$1500
CM) petal,
Other unchanged,
Blankel crepe....
Ru, 1 pale crepe pur
LONDON
75-77
30-015
The rubber market was very
with steady
spot quoted at 20-9/10 pence per lb. Prices; No. 1 Ass spot ........... 235–2976
Settlement house termu
............
General markets, cif basin, ports:
Deo, & Jan.
Estato crepe this Dec.
Det.
Fati.
April/June
July/Sept.
1,009
unquoted
10000
Ertato crepe thick Jan.
дотз
Dorto
2 лоть 2,71 6/16-3411 7/10 10.0711-30.0
11.009-
1745-17662
20.00-20.21
12.233-1254
LONDON
Closing rates were:
New York
Montreal Amsterdamn Copenh Frankfurt Milan Oslo
Zurich
Others Antyod...-U PI, ·
RUBBER
NEW YORK
Rex rubber futures today
clasect up 40 to 50 points with
sales of 101 contracts.
Closing prices;
Closing Prices
National Bull Co
14.13 Nationdi Cosh Rea. "A" 191.02 National Dairy Prod.
40
National Lead...
[tationci Steel Corp.
New York
Norfolk & with Ry
North Amen Aviatic
North-west Airlines (Com | Otin Machteson
Os Elevatory
New York Cotton Market
New York, Nov. 20.
futures Cotton
Jeday onerated on a defensive live as traders evened-up for the holiday tomorrow and made adjustments in the spot December de- livery.
a
Nearby months closed on note of weakness, with the gen- eral list unchanged to off 18 points. The market opened up seven to off to points New Orleans closed off two to 19 points.
Corn farmers rejection of bigh price supports and production controls in yesterdɛy's referon- duan attracted some hedging. Sellers thought the vote weak- ened the argument for continued 7811 controls In cotton. Cottoù farmers will vote December 15 on controls for next year,
EDLE
36
34
двой
214
Delivery
were
Three delivery notices issued today against the Decem- ber contract. Liquidation there was taken up by spot interests against salca of March and May, presumably to transfer hedged forward.
The net open Interest in De- cember today Totalled 24,300 bales. The certificated stock 42, rose to 10,000 bates, the highest
in three years.
3A
Liverpool futures
Alden Inc. Acy.
12311
Allied Cheunicođa
Allied Ms Inc.
301
Owen-ilots Class
D
Allie Chodraced
271
Uxtent Pepor Co.
Am. Brake Shoe
Pacifle Gas & Elec.
American Airline
Pan American Airwayn
American Ohje & Barito Compa.
872
PATAMOLAS Pretutes
48
20 to
Ainerican Cynard Co.
1333 | Parke Panda Ca
680 to
Amer. & Foren. Power
105
Penny . C. Co.
inda,
1:20
Am. Gas & Electric
Ain. Home Prod
Arn. Mocht, de Madry, Atherican Metal".". American Smalting America Tol & Mi Americon Tob. "" Anteonda Coppe farhod "stde!! Author
Atlas Cosa. Mining Baldwin-Luma-Kam Bastimore & Ohio Benefici Finece Benini Avtaturi Coup. Berguet Con
Bethlehem Steel Boeing Airplane
Borden (The) Co.
Burroughs Add Machina CIRIT." PACKIE Corp. Campbell Soup Co.
PRICES
serabelinis n
fut pumba A
Fenn, Fall Con
Pip Morris
Procter & Gamble Co Pittsburgh Plote. Chans Fublicker Industrier Pure bil Badlo Corporation Bretig Gopi Pref. Пepuho Stee)
1 Reynolds Metal
Sears, Roebuck & Co.
4 Bring Reg. Paper
83
14
4
at 14 designated spot markets was 34.74 cents.
Total sales were 78,195 bales. -U.P.I.
SUGAR
New York, Nov. 20. World No. 4 sugar futures clos. ed today one to three points higher with sales of 100 con tracts,
Domestic No. 6 sugar futures closed two to four pointa higher with sales of 70 contracts.
Contract No. 4 ́ (world)
Selest Oil
Secony Mobil ou
Botar. Alferaft 2.
South Puerto Rico Bugar Southern C
(The)
Southern Natiorial Cas
Southern Ballway (Cms.)
Standard Brands....
Standard 11 of Cal
Standard D1 of Ind
Standard Oil of NJ.
Bleep Rock (Toronto Exge.) Sterling Drug Co.
Sjokėlý Vah__Camp. Studebaker Packard Corp.
Sunshine Mining
Swift & Co.
Texas Co.
Textron Inc.
Tide: Water Ason. Oll
Time In UNGA
Tri-Cont. Warrants
Twentieth Century Fox Film
Union Carulde.
Union Oll of Cal
Union Pacific Haitway
United Airérafi
United Gal Corp.
U.S. Foll
U.S. Gypsum
US. Line Lo.
U.S, Rubber
VS. Smelior
ÚA, Stori
U.S. Steel 7 F.C. FF. Warner Bros. Westing our Air Brake Westinghouse Electric Western Union Tel." Co. West Va. Pulp & Paper Woolworth
74
closed off
30 Englth points and 013 American polits under New York futures,
Raw cotton exports today totalled 6,887 bales Uringing total shipments to 954,847 pales 201 against 1,633,727 bales exports in the sario period last year, arcording to the New York Cotton Exchange-U.FT.
Chicago Grain
Prices
Chicago, Nov. 20.
Brokers lett grain futures pried slumping week to 'steady
te for Thanksgiving ove on the
Board of Trade.
Liquidation settled in the pils
9
043
103:
231
67)
エアキュ
gra
dropped
ים
and led the decline in every
December wheat
during the crop's dull trods,
Nearby soybeans deliveries were hit harder than deferred. Lbeat No. 2 Fed"
43
309%
Spot
1944 nom
Dec. 100H 1944(L) 10614-3
Mht.
414
July
24
Dept.
Corn, No. 2, yellow
29
Ded
Dec. New
Mar.
May
Пуе
FARM PRODUCTS
Dec.
Mar
Data
040-50
FOR PAKISTAN
Dec.
692 Yeap, No. 2, yellow
Bpot JA
214 nom.
The
cupply Pakistan
13
Mer.
Moy
July
"Spittalled here today by TADOR
dudia under "an agreement | Harley
123-150
Sept."
0.07
U.PA.
Spot-fcents per ip. it NY
Open Interest: 1,170 contracts
6.03
Langley, the U.S. Ambassador.
Minister, and Mr James "M •200 tu wack
Sholob, Pakistan's Finance New York flour
$13.1.1.
**Commodities covered by the
COTTON
NEW YORK
Jan.
Prices of cation Tutures closed today as follows
Mar
May
July
Spot
30.105 33,37
sepi
Clot
Dec.
Mst.
May
July
Dre.
Mar
NEW ORLEANS Prices of cotton futures closed today as follows:
Spot
Mer.
July
Subt (centa par ♬ fob Cube)
Open Interest: 7,175 contrasto.
Contract No. 6 (domestic)
-Karachi, Nov. 20. United States Will with $69.75 million of surplus farm pro-
Mor
The American-made Convair 880 medlem jat, which 848 have ordered for their
"Jet" flost.
Nov
Jan
Mar.
May
July
Bevt.
Nov.
AMSTERDAM
6668888
$838953
The rubber market was quiet today, Prices closed in gulfders per kilogram elf, Der. 43
fellows:
No. 1 rubber
No. a rubber
No. 3 rubr.
No. 1 rebe
LIVERPOOL
METALS
NEW YORK
گاه بر بهداد
I
today in cents per la fol- Prices of metal futures closed
11.000
11.001
10.150
10.80%
20.000
21.100
227,60%
34.00
35.82
34.DO
E1.67
31,72
May
5905
30.00
Cotton future closings,
pence per ib, wore as follows:
American Contract
lows:
Jend
Jac.
Dec/Jun
Mar/Apr.
20.10
May/June
23.70
Zinc
Jan. Deo.
Jan.
July/Aug.
ៗ! ធ
1.00 buyers
Oct/Nov
21.23
Copper
Jah.
Mixed Contract
ጌ
Dic
2.42 buyers
Dec/Jan,
22,00
JAN.
Mar/Apr.
23.30
LONDON
May/June
23.00
July/Aug.
21.00
Oct/Nov
BAO PAULA
Cotton future closing.
22
per
| ZestionUr
09 サロ
700
Copper spot.
-mintith
2243%
Lead 2nd lidle Roy,
Fr
BINGAPORE
Lower overseas advices and upequiitry1gbdafion caused
lower opening, but short cover-
ing and good lower sheet inter-cruzeirom
eal steadied the market"lowdeda follows:
to the end of the morningą.
No. 1 hubire per 15: Des 10-60%
*༄ ";"་་་ । Jan
No.
3 nutar per Jb.
No. 4 nibbar peg,b).
pol rush
10.
Mor
agreement Include wheat, riés,
For beans, cofforibord, of, and TAX HOLIDAYS'
dairy products-Eguter:-
U.S. Car Production Expected To Fall
Detroit, Nov, 20. United States paodonger car production was scheduled to fall to ut estimated 121,84 cate this week with disembly plants 17.cloned for tomorrows Thanks. giving holiday from last week's Prices of metals closed today total of 188,da?, Dow Junca in sterling per long ton as fol- spurted. Jown: kilo were at No in
78.00
70.00 inquelad $2.30- 'In
Hnited State, then and half glov Kyorage Brich'orˇting likh'cotton
FOR MORE INDUSTRIES
Kuala Lumpur, Nov. 26. Four imbre "Industrict and 12 "mote" products' dra"të be holidays" given
pioneer under Melaye's
Industry: delamo,
Tils' Uring the number of
tax free industries to 18, and produble to 05:
Plouber Industries, oro, In- "Tijs week's planned outpu
and Buyers Sellers would top the 114,731 cara dijïfries" now to Malayu,
produced in the same week that those introducing them may got 24 years Towever, this is the dry tax rellor tow-up to Ave yours.
time a week's production had The industries given ploneer risen aboyo ita comparable 1997 status today rapes from the week since October 4 when fast | production of asbesina sirenia, to year's total were held down" is | That; ot
model changeoveka,......Editos”,
condensed palik