+
TRANSPORTATION
Glasgow Docks Have
U
Busiest Year Since End Of War
LASGOW docks have completed their busiest year since the end of the war, according to figures issued by the Clyde Navigation Trust.
The
[
volume jentering and leave the
ch.ring the year ended Jun
Biggest Freighter Of led 25.042214 tous,
Indian Merchant Navy
Hamburg, Dec. 9.
(dead 14,000-TON
A weight freighter,
TC-
ported to be the largest freight ship of India's mer
launched chant navy, here today and named Jag Jiwan.
Was
J'50- J:1 TOT, NAS was the w
ד' }
TROGO ASTAR!.
Prevel w Bu
ah Sach, with of the tit 2. Sepa
194
terk the 201
Pewaterl
: גויינין * : י
t
h
hased en Me
grand fri alta a
41
def von 1
alter rem
Shipyar
adron cary 19 195
More
Freight Flown
By Chinese Planes
crease of 1,428,904 Jones Dy
This Is ot! previous yvor Firet cent below the weak of the record pencv-time you
30
It
F1
The weight of goods in a lien exeredral the 1039 tigun 164 per cent Toth: Impor in
expres amended to 7.20.26% trunk an dieryjesë dË 193258 Yout compared with 1956-57
Poports of unn are ! ..
f than
ine bigge amounted 13
Thes
11.
a case of $73 t
COAL IMPORTS
Foul imports were down 100,000 TORS 474 g ****
LOOK SATIN
The biggest increase J1,
ports was in spirtis,
.
Scotch whisky, which umorstod j
to 155.000 tons. 1024
Tevenue
noatd
$ 2,897,80€. vxceeding previous year's record figu
£309,283
The trust Burshed The
with surplus of £921,310
Capital expenditure amoi|||
£1447.957. mcisedang
THE CHINA MAIL, WEDNESDAY, DECEMBER 10, 1958.
Consolidation On
New York And
London Markets
By SYDNEY S. CAMPELL
London, Dec. 9.
The week ended December 6 has been a
Page
Wide
HONGKONG Special Issues Have
Gains In New York
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Stock
Exchange Lilla morning amounted [4 proximately $100,000. Noon and the morning's
period of encouraging but unspecta-quotations
transactions were:
JANE
cular consolidation on the London and New York stock exchanges. Probably, the transition from inflationary senti-
ment to more sedate confidence has made fur- sING ther progress.
CHATTER
ON WALL
STREET
New York, Dec. 9. As far as the general mar- ket action is concerned,
the November high and low of 572.05 and 538.43
There resina to be a realis Uon that inflationary experta-
overdone, ut flutes have been
least for the near future and perhaps for much longer.
Recovery
growth are
long-term
regarded na better hers, but that consensus that If they are sure they may also blow and that, meanwhile. is unemployment the problem
rather than inflation.
Water
LANU, EINA
A Towatt
New York, Dec. 9.
Wide gains in selected issues featured a higher, moderately
active stock market today.
Net
Kains in these extras ranged to more than ป points In Puinroid, National Teo, Minner polis Honeywell, and a few others, Johnson & Johnson ran up nearly nine. 218 3.20 International Business Machines
Baler
233 mA KAM
250
140
הכל 1
soared 20 poluts.
Gains of two points or more £peared
Norwich in maceutical, Plizes, Laboratorier, Merck,
Combustion Engineering,
more than three points.
U.S. Steel
Gult of
Feyden Newport Corp ifomastabo Mining Co. Ingersoll-Rad Interchemical Corp.
In Bunosa Muchinsen inct
Intermentor
Nickol
Int'l Tel & Tel
International Paper
Lone Star Cement Lowenstein Bons. McDermott J. Ray MeTudnail Aircraft
Stock ExcR.J
ASK FOR
HIGHER
TAXES
New York, Dec. 9. administration's top
1211
*A
91
Buyers Sellers
IKE MAY
って
071
B Bank
INSURANCES
100 603
0410
12
John-Manville Co.
4
Kaiser Industry
Wheelock
DXRS. ET K WORL tuck Provident
5.00 570 1000
5.20
Honor C. Power & Light
2000
5.201
Kammerot Copper Phar-Eggett Meyers Too. Co.
0445
014
143
13
Aliled | Lockheed Aircraf
43 DO
+4
Cluelt Louwen_Incorp
12 22
500
11.90
11. Peabody.
200
Cyanamke, Magma
Gulf Oil, American Copper,
037 21
1414
....
НК ikatel 21 5E SI TO MK Lanud ja 50 40 63
1000
21.00
Divco-Wayne,
Wait
Disney
(Am
Dupa
παί
53
32:4
200
30.50
Mesabi Iron Comp.
421
Barmphrey,
1430
Sunshine Bruil.
A
1
.
Miripesula Minnie
Irak
1 370
147
American Telephone
With
p
Mission Development
104
2011
The
UBER
Monsanto Chertodeal Co
T
ARLIN
Montgomery Ward
140
Mertorul ne
BUL
Suncat
Z
National Biserett Co
3016
UTILITIES
National C
7316
610 230 1000
24 20
Stau Pers Tou
11
Yrmati
93
100%
{ Bagh
10 TO
7:00
10
Phy
23 25 40
2
1
25 100
脚
2510
Lockheed
games!
U.S. Steel gained more than
and point
Youngstown Sheel more thas three 1 the steels. Cleanse
14
National Dally Pres
4976
Naval Leni
11254
National Steel Corp.
793
New York Central
201
PREST
13.70 14
13 70
เพ poft In
Norfolk & Worte
y
RTS
North Amer, Aviallun
421
North-west Airliner (Com +
201.
firm
M
11 O
in Mathieson
43
324711
10%
2470
Ou Elevators
04
400 19
24 HO
Owen-Bitaols Glass
80%
500
Oxford Paper Pa.
34
send the
720
776
1583
770
Pucile Gas & Elec,
41
2001
770
Cement
28 29 30
70
15
Pan American Airways
21
Paramount Pictures
10
70
20,10
KI
20 19
Parke Davis Co Penny J Co
300
20 30
STORES, ETC
are
1040 14 70
ALCOA
Wat is:
13.10 2330 1954
1310
{
COTTONS
taf
Dentry to
Event
Two-Sided
The murkefs have thus been are two-sided but with undertone.
in London, the great talking
are the points to watch point has been which of the two for indications of The best United States aluminion groups is to be allowed to finance An upside nearby trend. penetration would indicate
a continued uptrend to the 600 level, and a downside penetration would. from
Relish Aluminiton Company
The latter's directors committed
(AluminiumTI Company America) if the Chancellor the Exchequer gives the neces thesary consent
a technical viewpoint, in-
a derline to dicate 525-520 support
Walston & Co.
זין}.
rts Lab 25
level—
Many of the shareholders re- gard the alternative Reynolds- ...Tube Investments offer as more AL nimmediately advantageous,
New
for 1.
Targe
Conservadas
F
|].
aden ble
Fil
Elvarsler
fr tr
y dew
k in AGMEDY Service of the NAUEN from the level
14
L
13
perify of £13,28. 1
123 Ta
£4,000,000 extension |cony rucikon it
i
{+8[** **bt !
He h
The rapuelty Meadowside is
...
A DEFICIT
beberm MIRAN
It
tout d
inary
slon being ineCASESA
La in
D
By 150,000 fours and disclai pot,
in in being installed Put The !!
crase the rate at which gan, 1957 but bokeng tonnage freight 54
can be discharged from 200 and by Communist China's! 000 tons an hour. Colors n. the it montas
The
the end of NovenaT
k
1
Peking
Wat's
ceryl butter than the Radio lat esported aptating reports Pking Chest Avialini
Battl
Large nat.nbers Wel
vi
to help
14
Fu be
agrerait
kumpany
gam and
: The work will be completed early in 1900
Improvements are also bangor made at a cost of £1,500,000 Sturidhail Duck, where 900 rout
additionel deep-wate berthage wil be completed in the next few months,
اگرام
Badestra New Merchant Fleet
mallutaval
babewer
The
Amman, Dec. 9
WAY 20
YOSANG
..!
ma dow a
را
+
ahead the
"X-
share in
1[> able
un R hwy average warning power
beller then 3 share- philbud & Co There is every renson lo 17:1 subalantial advance
foun profits
The $1 per share for 3 Case this yrtur
Fibreboar Products estitrated!
how RE this year sharv $3 u Baust $2.47 1937 Albid & Vanden Broeck & Co.
pon kurtarm
mindels mode 3.440 se
E Jordanian authorities to show
share this argently newsted.
about 1.75 Til 15-
year but could earn 50 a share epitjament turbidin genealors, fera atonated stovimen of
assuming 75 per Jurdan merchant next year, il products, wALC
njevaling fleet. The capital, prelandmarile; errit
rate Paine, Webber, Jackson & Curtis. from North-Esem chats al estimated at £3,000,000, is Shought to newly-built plants vente from Arub and Jordanian! Sunshine Biscuit expretest in Yionan und Szechwan pro- MAITES
carmi $8.8 hare this ye
gonst 6.48 Just year and could Umler In 1959-Alexander Hamilton Institute.-U.P.I.
Vrists.
the Inner Mongolian
France-PreYSE.
The feet is to carry goods to
cl
find se port of Aqaba.-Router.
anel Sinking Uighur autange, and from Jordan through the meus regionas.
1
the munient, the Chancellor hus to make a tricky decision and when made it may or may not be the last word.
of Sucz
bas An afternuth cropped up on the financial as well as on the political side. The shareholders of the Sucz Company were deprived of their canal for relatively smalt com- pusation. Piling on the agony.
that the il transpired
un- fortunate British shareholders ar alte for the fuit rigour of British xation when the com- pensation moury is distributed
fo them.
Tax Crab
A
Similar distributions Troni British company would be tax free, s also are the Suez dis- tributions 10 French stinre- holders.
This anomaly Frttish tax law had been known for yours but very few of the Relish shareholders in the Suez
أن
Copperwell S'eel expected to Company had realized that they were in for this additional grab from the British lux collector.
1315 first
the blar new offers of un trusts has been an outstanding success and al least two
offers Inor simitar are expres. Of th one, the great bulk of the subscriptions nre for eash, wh less than a tenth of them on hire-purchase. This is fairly widely regarded gratifying. sincr any Excessive hire-purchase ຄ shares on a 25 per cent met (after 40 per cent rise. fry Che
might
COMMODITY PRICES
FORLIGY EXCHANGE
NEW YORK Closing tes were Canada
Cerchanged
LONDON
Cloding rates were:
New York
Montreal
Brussels
Muon l'ar1^
Stockholm.
Vienna
Zurich
Canes une trad
109-13/16
4.ONDON
The rubber market WOS VOLY gitled with apot lower at 24
5.18 pence per lu. Prices
I
bor Gegewend house fortu
زگاران
1
April/June
Corneand market, ci bán 17,
ילf
24-201
24-24
SUCAR
New York, Dev. 0. 943-24
World
futures No. 4 suzar 2424 today closed uncharggal to eight 24-23
of 845 points higher with palis 247-24ontracts
į invidious,
}}}x}
DAY-
has
Stales comment swung towards a more rational but delicate balance of recognise ing the dollar's over-valantion while away from the EXONECTAlin
recent current
the 05 Infiniti nary procure.
High Cost
On the one hand, the charinatı of the Ford Motor Company bas Joled in the warnings the Chizis Costa
pricing the Uwird Slates out of both overseas ant domestic markets and 142 causing im inclpken flight of American capital. On the othe hand, some of the New York bankh who were wringing their 3.60
the budgetary in- 3.74-75 anda over
Action are now taking a caimer
lew
Domestle No, sugar futures closed one to two points higher with sales of 296 contracts.
Contract No. 4 (world)
FRI and Feb state crepe tho
Just
chape tark
23014-210-5/16
Apti
2.99-16726-2.50-1/16
139371-130.42!
AMSTERDAM
174522-17483
Just.
11772-11773
The
eember as follows:
rubber market Was Ma
Prices closed in Mendy torluy. guilders per kilogram, clt 1
Mins
21137
Sept.
Oct
Mar
14 48-14.48%
72 39-12AZ
12 226-12.224.
-UP.I
RUBBER
today lower
No rubber No. 3 rubber
No. 1 rubber No.
1 crepa
2.33 nom
2.30 purem 2.32 buyer 2.44 com
371
3.47
3.07
300
2.49 Spol-pente per ih, fob Cuba 3,70 On Interest: 8,180 contracts.
UJJ
Contract No. 6 (domestlo)
Any Faly Sept. Spot-cents per a ell NY
5.02
ex-duty)
0.00 3.02
8.90
Open terest:
1.40Z
Contract
U.P.I.
Rex
NEW YORK
rubber futures
closed 40 to 43 points
with unics of 20 contracts.
Closing priors;
Jan: 2010; Mnr; 20.70; Mny: 20.45; Juty: SVAN; Sept: 20.30; Nov: 29.20; Jan: 20.10.
SINGAPORE
The market opened higher on improved
Overscus advlees but ruled quiet at higher levels.
Lower grades interest was selective and on the small side, but after crralle trading in the alternoon
the market closed slightly steadier on some short covering Futures:
COTTON
LIVERPOOL Cotton future closings, in pence per il were as follows:
American Contract Dec/Jan: 21 70; Mar/April: 22.05; May/June: 22.19 July/Aug: 21.30; Det/Nov: 20,00; Dec/Jan: 20.30.
Mixed Contract Dec/Jan: 23.75; Mar/April; 22.05; May/June: 2.10 July/Arg: a1.17 Oct/Nov: 20.40; Dec/Jah: "20,45,
SAO PAULO
Cotton futuro clodngs, eruzeiron
per kilo
follows:
Dee: 9.00, Mar: 09.50; May: 30,10; July: 67,00 Del: 51.00
METALS
LONDON
vcry The tin market was sendy. Spot rose to £769% and three-months 1%
£700. Turnover was 40 Long. Copper, lead and zine word sloncler today. Prices
eloacel
Une end of the wo@cial aftoribon Bion, in sterling por lang ton, as follows:
Tin t In the United States, the month average price of cotton at 14 Copper apot
2-210Els 01%-69% designated spol markets
34.40 cente.
No. 1 rubber per tu. Dec. 83-0314
Jan. 14-6
No. rubber por . Bre. 2-8235 He. s
No. 4
pot rublier unbaled
Blanket grepe
20, 1 pale crepe
in
were д
nt
German bourses have con- to be affected by the tinued Berlin uncertainty, though the German currency has held up as #irong as OVET,
ייל
140
14:30 14 70
INVESTMENTS
1K & FE
Invest
160
7
(100
2000
CITY LIGHTS)|
"Chairman of company indeed
euch in their departments.
the oils, Gult tose more than two while Richfeld lost three and others moved irregularly in
fractional orea
truaties were
arou
best level in 28 years.
Of Lotal 1,230 issues iraveti, 532 were higher on the day, 16.00 430 lower.
holding and no
holds barred !"
London Kaprons Serope
Mixed Trading In London
London, Dec. 9.
closed The stock market
mixed Loday 011 light
trading.
Gilt-edged
mel Accurities little support
suffered nud declines of between 1/14 AUG 3/18.
industrials were irroguber. Steels were uncertain. However, British Alumunium, Tube In- vestments, Unilever and Metal, Bux edged higher.
OILS DRIFTED
Oils drifter lower afthougli Shell
and Koyal Transport Dutch managed to register frac- tional gains.
Dolkr stocks were mixed and Dreign bonds were dull.
Gold slocks closed casier. Coppers receded reflecting the weakness มา the commodity price.U.P.I
New York Stock Exchange volume was 3,700,000 shares,
New York Stock Exchange bemd volume was $6,540,000.
American Stock Exchang volume was 1,020,000 Stares
Dow-Jones closing average,
were:
Industrials
13 es
20 Latin
G1 stocks
40 bond
L'omin
future low index
Closing Prices
Alden ine. Ars Allied Chemicals ABM inc.
Allis Chalmers
Ag Home Pred
Ain
Alucli de l'es
American Meti
Ameren Setting
At Sugar Re!
American Tel & Tel
American Tub "B"
Anarned Copper
558.13
133.94
67.43
Salt Co.
ali Moerin Procter & Gamble Cu Pittsburgh Plate Clans Publicker Industries Pure Ot....... Hadio Corporation Radio Corp. Pret Reptile Steel Reynolds Metni
Sears, torbuck & Co Shell Cal Co
Saint Keg Pape
"ASIAN"
7515
budget official hinted to- day that President Eisen- hower may ask for higher taxes if the new
con-
gress thwarts his efforts Lo hold down federal spending.
13
Budget director Maurice Stens said the President will
heavily-Democratie
new Congress a budget for fiscal year 1980 as tight as the law
THE CHOICE
allows
Then, Stany said, the choloo 7 was up to the American people.
If they demand-and Congress> votes--more spending thon tax revenues can cover, thereby un- balsacing the budget, "the gove ernment should spell out whet
N
40
48
705%
7145
37 new taxes must be raised."
In 4 speech prepared for Deans Dry ceremonies at New York University, Stans cald, "It is time for realism In Gov- ernment 3015
Anances in the
E
45
Sinelate it all
62:
40
10
Sular Alrerafi
194.43
south Ponde Rica Sugar
30
80.01
Suuthern Cu. (The)
100 13
Southern National
45
Southern Raliway (Com
federal budget."
531
Standard Brandi
014
Standard Öll of Cat.
Ba
Standard Of Ind
49
Standard OH of NJ
371
1F
1 2
Steep Rock (Torento Exce
275-PRP forp
Sterling Drug_Co
Sunshine Ming Swift 3
Texas Co
Apparently beaming his
re-
marks to the new Congress,
Stans said the budget for focal 1000, which starts next July 1, 514 would be "tailored to the facts
12
DA
ירי
Am Brake Shoe
43
Amurizan Abtine
24
Ani. Cable & Radio Corp. Amserieun Cyanaanid Cu
Amez & Torgn Power
17
Textron Ine
Am Gas & Électrie
22,
Tid Wal
Aan On
TA
32314
Tine the
T1- WaĦanj
24
Twentieth Mary for Pib
Che
4014
Use of Cal
341
Act Ineltie Balears
5
11:1
Aleroft
112
United Fruit
37%
624,
US Foll "B"
儿
142
US In to
423)
Ü Smelting
Us
See!
072% US Steel 2 p
36 Warner Bow
40%
Busing Airplane
4942
Wenge Electric
Harden (he) te
103
Bondes Add Machine
301
Car Parking Carp
4032
Wester adija Pig eno West V Pulp & Papa Woolworth
-;
FI
Campbell Soup Co
4724
A ripo ATURAN
Steel
Allis Cons. Mining Bakiwin-lar-IRATI, Balthiere & Ohla
Beneficial Finance
Bendix Aviation Corp
Benguel Cona.
Bethlehem Steel
Partici
Cutie (J. J
Cu Tractor
Celatmae Curta
IT. Financial Corp
yer Motors Cut Peabody Colgate-Palmolive Colzaban te bou Co Commercial Credit Cada wealth es on: :lated Adtron Continental Oil of Uni Crown Zellerbarh Cuban Aimer Sugar Dani Alka Demond Mateli Co
gta Aurel how Chemicals Dupont de Nemours Peth Airitur Earluzy Kulak
201
United Gen_4573
US Gypa
Rubber
Westinghouse Air Brake
**
141
1-1811
241
TAIWAN MAY
EXPAND TRADE
WITH MALAYA
Singapore, Dec. 9.
The Singapore Standard sald tuslay thr Formosan Govern- mcnt was interested in expand- ing its trade will Malay now had China that
Communist ceased exparting to this coun-
72:
เถาง
131
Pan National Gas
28
Family Finance Corp
111
Virenton Tyne Rubbe
128
เล
Firm Nat. City Bank
Ford Matur
General Dynamics norri Blectile
Feneral Meda General Motors Gen. Pun
Gen. Tyre & Tubber Gry Oil
Gudem
Brodrich
B (V. Goodyear Tyra
Gruminan Airpo
.גן ז
45%
The
Government would post permanent commercial re- resentative to Singapore, the
per said.
of our economie Ufe. It will be os light a budget as the Pre- sident can make it. In the face
of existing laws,"
NEW BUDGET
Stana said, "The new budget will run into sharp criticism
because of the very fact that
it will be tight, It will liko- wise be met by criticism on the part of those who think It should be even thighter." Evco with retrenchment. fiscal ex- the administration perts give virtually we chance to balance the budget in flocal 1950.
Stans, whose burenu
assem-
bles the massive budget, noted ¦ that the government is expected le satisfy such needs as educe- tion, health research, slurm clearance and urban redevelop- ment, Irrigation, h.ghways, managing the airways, services for the elderly and the quest of space.—U,P.1.
Voluntary Control
con-
Of Exports Urged
Communist China stopped it) expats to Malaya in retaliation i for Malayir action against low.
Chinese cement and tex-The 1977
les-China Mati Special.
CHRYSLER JAPAN'S 1959 ECONOMIC
TO CLOSE
PLANT
Chrysler Newark
Detroit, Dec. 9.
Corporations Delaware
Ply- mouth - Dodge assembly
FORECAST
CALLS FOR 5.5pc INCREASE
Tokyo, Dee. 9.
plant will close after today The Japanese cabinet today approved an economic forecast for 1959 that calls for an impressivo. 5.5 per cent increase in the nation's overall growth.
because of parts shortages caused by a Dotroit strike,
the compony said.
20
in-
In Japan
Tokyo, Dec. 9. Japanese Government on Monday asked manu- facturers and traders of sundry goods to impose voluntary control on their exports to Australia. The request WE made 0:4 pressure mounted in Australia for restrictions on Japanese products,
The Foreign Ofee and the Ministry of International Trade and Industry said the export of aundry goods has increased fnst recently that some mea- sures must be taken to control
them.
30
told aundry goods makern and
traders at a meeting
TWO MINISTRIES Officials of the two minisirles
that the Government tatended to throw up a control plan of its own in the near future.
They disclosed that the Aug- trollari Government had asked somo menguras Japan to take to cope with the rapidity-rining
of exports
Fundry goods. world-wide U.P.I.
Western under-
For once, a rightwing land- slide in the French elections has failed to boost the Paris bourse. If it resulta in mort
of the needed correction of the French economy and a curb on inflation, This will belig to about It will of course do Franca and thousand the number idled by The forecast, drawn up by the overall economic growth. Kvode board, enld: these experts doubted that Europe good in the long run, the strike of United
Auto economle
planning local three at envisages but it is not regarded as very Worker union
exports of three domestic spending would bullish for the Paris bourse in the, Doge main plant here. billion dollars. Impuria of 52.0 me ro rapidly.
short
They also noted that while Hy tomorrow most
billion and a rite of 740,000 t Chrysler's namembly plants will the totul working force,
the Economic Planning Hourd be closed by parts shortages,
ostred in hopes for Japan's Negotiations in Detroit be-
Canumy economic tween the auto maker and the but no U.A.W. are continuing
Europe pogrom has been reported, -
developvt Reuter.
18 continue to
of the Americou recession in
the
Special.
An
run-China
Iran-Japan Agreement
Mall
Telioran, Det. 9.
agreement for economic
nd technical co-operation be
Iran and Japan was
Exchange Rates
Durinew war done
ΟΙ
BASIC GUIDE
The forecast covers the period from April 1, 1900 to March 31, 1960 and will serve as a male guido for the Goverment when
fluent comptes its
10
budget,
Sources
that the
Toparted, however, 1959,
tronomie
נזון
Z recovery, and mosl
nations
feel the
would
ecula
Cotton Anxiety
London, Dee.. 8. The British cotton Industry
in nnxlmisly awaiting the "out- Nevertheless, the Planning come of the present negolia- optimiertu
with Board predicted that privata tions will Honthong on the forcensi wn:1 greeted crious reservations by Informed investment in Industry would mutation of the Colony's L
Jump 16 per cent and Govetu, te exporta to Deltain," Me vertomin!".
moro than Charles Schofield, Cionerat- They pulled out that a key mest invertizont 6.70
It also fore- Becretary of the Cotton Operas Icelor in the progenismo is a deven per cent.
Increano. In horne | tives Spinners Amalgamation, 5.3 per cent frerease in doméstje ! east an
matching buikling livestment of neerly mlated in his quarterly report consumption, estholly
Issued today--Frasco-Press, the figure for the nation's 10 per cent-U,P,L
201 signed here today between the unomictal exchintige market the
Japancet Ambassador and
Duyers Bettween
*109
709
21
FISS
14
30-01
83-0.31%
ルータ
WEt half Dre. Total sales were 43,751 bates. Zino lat half Dec. B-0036.P.I.
21
TUL
Mar
M
Iranian Minister for Industry and Mises, Cherif Emam), agreement is › valią
VESELANTERbsu-Proaie.
The
for flue
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