RANSPORTATION
NEW RANGE
MARINE
OF
DIESEL ENGINES
A NEW range of marine diesel engines
on
Commonwealth Finance
Ministers To
Confer
In May
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
London, April 29. · A Commonwealth economic conference at official level is to be held in London from May 5. It was arranged at tho last Commonwealth Finance. and Economic Ministers conference held konu Stuck Exchange this in Montreal in September, 1958 that meetings of this kind should take place at frequent intervals.
is to be put
the market by Mirrioos, Bickerton and
Ltd, Ing conference has Day Stockport.
The Bret is now undergoing
tests,
This engine is a six-cylinder. direl reversing vertical, la- line mit and tells are being eterled out al ratings up. 2,60€ shp bl 300 rpm;with a DMEP of 150 st.
Ultimately
this particular
engine will be fitted in a distant bdag built to: Enl
water trawler
J. Muar anl
operate at 1,800 elajı x1 225 1pm. BMEP #11 ceresponding to m
138 st.
An identical engine for a for distant trawler being built for Load Line Linuted is on display Engineering. the
/Welding and Madlene
Fxhibition, Tandon,
Marhue. Enersy
SIMILAR MACHINERY
also ben orcleed for two frawlers for the Boyd Line.
The
Similar machinery bag
Monarch class engine
and 18 will be built in 4, 8 cylinder
units, with a power speed range of 1,600 shp at 20 Tum (ris cylinder, 138 BMP), to 4340 hp at 300 cylinder 150 IMEP).
ווגן f
(10)
The engine are single aeting with a
and 27in 19in bors stroke. They are
exhaust gas turbo-charged and tied with an air cooler,
The makers say that the engine has muy qualities which ake it suitable for multiple- unit propulsion.
Two six cylinder units would have
approximate all-up sveight of 190 ton with gearbox.
0011
Cunard Pier Plan
For Manhattan
THE
New York, April 29.
Cunard Steamship Company has plans for US$5 million pier and cargo shod in Monthotton which with its prezent dack. side berths will form massive freight and passen- ger ship torminat,
#
This will provide a "centralized home for Cunard's freighters [1] assoclated British esm- the panies now scultered over entire port, Mr Vincent (Con- Commis.luner ner, New York's
Metine and Aviation
of
here.
2540
the attinet fons of
officials believe Cunana development plan wil an additional 150,000 cargo a year.
...Cunand has signed a 20-your leese which provtifes for the buliding of the pier-new pier 94-about 775 feet long and '140* feet wide, almgside those t
The company will continue to Use Pier 90 where the Queen Mary and the Queen Elizabeth deck.
and the combined will be about US$803,000 year-China Mall Special.
10311
Swedish Device Cuts
Jet Starting Time
A
Stockholm.
as
Industrials Sought In London
London, April 29. 'The stock market moved energetically ahead today on broad buying of in- dustrial shares.
20
The new account which went into effect today, witnessed slatke advance Jor nounce and property shares as well as
the grins for
engineering, idolor. brewery, lextile store groups,
The agenda for the forthcom- not been and the published up to now meetings will moreover be pri- vote, but it is believed that the sitution created by the failure of negotiations on the free tride area will certainly be one of the chief subjects of discussion.
Several Commonwealth coun- tries who feel that they are threatened by the advent of the European Commor Market and its extension to the Oversee territories of its members, are exerting a certain amount of pressure on Britain to come to an agreement with the European Eesnumte Community with cli possible sperd.
Cocoa Markets
Ghana especially in men- tioned in informed circled as fearing the tox of her cocoa market In Europe as a result of the preference kiven producers in Belgian overNERA
cocos
to the French and territories.
NY COTTON] STEADY AND FIRM
AP-
Business done on the Hong-
amounted to morning proximately $1,448,000. Noon
the quotations and morning's
transactions:
Buyers Beitera
Ratch
..
823 037/4 204
17 6237;
Bhare
DANKS ICC Bank East Asia
INSUHANCES Tinton Lombard
SHIPPING Waterbout Wheelock
5000+
ចុះ
30%
3.0 8.75 1800
2100 ** 9.03
DOCKS, ETC. K. Wharf Dock
BO BANY 40
on
100)
Talkoo LAND, ETC. HK Hotel
3325 54
35.40 2545
33 331
Lenkt
New York, April 29. Cotton futures today opened Provident ..
steady and firm in otherwise quict session. Closing around the day's best levels the that was up twe to The market opened 16 points. off two to up one point. New
Humphrey Orleans tlosed up nine points,
Prompt
absorption of May Realty delivery notices and a cemmik. RUBBER
Amalg rion house and foreign demand
Truders both sides were in-
for new crop deliveries, found A. "Townh
Sungols Kellers somewhat, reserved.
Train UTILITIES
new
led to caution pending some Incentives, with some observers particularly walking Washington development: fam logisintion.
נ1
...
11.00 11.80 1003 11.70 100311.70 1150
2330 - 29.40
000 - $514 10003315
153/ 503-33** 700 14.70 3003 ** 14.00
14.30 14:00
1.875 100
Z55 2.45 1000 2.573 2.30 0.00
3.125
7000 2.75
2.78
28.60 22.30
3000 20
1000
20:30
30
19.20
Star Ferry
Younoti
981; 103
100 K 20120
BUO 20
197
1 D 100 or 0715
Wall Street Rails Advance On News Of Erie-Lackawanna Merger
New York, April 29,
Railroad shares advanced today when Erie and Delaware, Lacka- wanna `& Western announced agreement on terms for a
merger.
Tals rows
sent Erie op A 3up tit de Nelloute point and Lackswann nearly iman Kodak
Ko Natipori_Gar point. Kansas City Southern Yamily Finance Corp.
& | Kirenzone Tyre & Jibber
Nat. City Bank ford Motor of Cana Ford Motor
and Lauisite ran up twO Nashville Biere than a point. Others hell in a narrow area.
The nil strength stead out in
For a time
denstal Dynamiter General Electr.c
General Malpra
Gen. Pub. Ul.
Gen. Trie & Rubber
an Irregular market fentured Gentral Foods a few wide moves. late in the day trading pleked
carly lethargy prices came back from their lows in The Industrial section
up from
Closing Prices
Abitibi Power & Paper
Alden In Acy.
digonya_ Steel Corp
Allied Chemicals Abled Mists Inc.
Ali Chalmers Am. Brake Shte American Airline Arict: Cable & Raci Amerlenn Craniosa Co. Aimer & Fuegn. Pawei Am. G. & Elechte
Am Hems Prod.
Am. Mach. Me alty An Natural C
Anseries Metal American Smelting Am. Bezze Ref. American Tele American TH, HEAT Anaconda Copper Azine St.el ASTIKIT
Altan Cone, Mhuirti }}]@wd-Lina-Ham, ilaititore. Chin
Bank of Maritrend
anil
Georgia Pacifie
Gefty Of Glidden Co.
Goodrich. 18. F. 06. Goodyes Tyre... Grunion Alreraft Quit Oil................ Hammond Organ
Høyden Newport Corp.
Homemake Mining Co.
333 | Russian:utefria 30% klaim Power
12%
Imperial Oil
International Mickel International Paper
10 John-Manville Co.
Keunecott Copper.
241 McDonnel Aircraft
240
Westinghouse Electric
ina | Western Unios Tel. 20,
Th
!
140!
212
Wost Va. Pulp & Paper
Winn-Dixie Stove
Woolworth (K. W.)
Zenith Racho
Far Eastern Freight Rates
London, April 29.
6042
102x Business in the Far Eastern matkate revived slightly the Baltic Exchango today.
Rates wore
about average 32nd the surrent balance be- ***tween supply and tonnage and 15 the demand for spaer is so equal that no Iresh developments are expected.
The Australian grain trade was noted again through the The Huntsfeld for 4booking of
wheat from Freemantle to 345 Japan of 45s for June, Japanese
charterera were niso
hirl-Band
423
Irland Steel C..
ID
2P
Interchenical Corp.
$314
Int'l Busine
Machines
on
296 Eierverter .....
924
117
27% in Tel & Fel
512 Katzer Industry
140
Ko C. Power & Light
BJP
Kimberly Clerk,
42
Liggett Meyers Tal, Co.
07
JF Tulip.......
100
23
Luckhug! Alteraft
301,
iews Incorp.
Late Star Cement Co.
Lowenstein &
Senk
17!
Med mant J. Hay
(Am.
ป
Stork Fake.!
Metabi tros Cup.
441
Minnea:La Mang
17
វាន
an
the
Other
such dominions Australia appear to be alarmned Thritish by rumours that the
Seven delivery notices issued Government night gradually against the May contract were abolish the systern of Imperial promptly stopped by spot in- proferences in order to facilitate | ferests. The open postiion: In
with
Mry at the #greement
opening tutalled 164,000 bales. The certißcated | Electric European community,
stock totalled 85,554 bates, down tro 2,340 bales from the previous
Aiming Deveinyent
36
DELIVERIES STOPPED
Beneficial Finance
Monsacio Chentical Co.
Bendix Aviadion Corp, Benguet Cus
771
Mintgomery Ward
1
Motorola Luc.
1. XD 10.30 13.0)
National BCLES!
1000 19.70
Reg Airplane
30
National Casa
1000+ 12.07
Border (Ther Co.
4300 m 12.00
HUNT Amer, DIE
401
e A Mattor Dairy Prod. National Lead
1500 18.30
Burroughs Add Machlor
Naikal Steel Corp.
Colt Packing Corp,
New York Central
27.00
20
3321... 23
112727.03ampbell Soup Ca
Notanda Mines Ltd
Canadian of Commerce
41
Norleik & Western. By
3420 28
Canadian Pacile
304
North Amer. Aviatio
3000 20.10
Case . 1.) Co.
No-west Airlince Com
1200 229
Cal. Tractor ...
031
Matheson
800
21.00
10 10.40 26.20 201 6500
20 28.30
STORES, ETC, Dairy XD 13.80 15.00
Celaners Corp.
301
Dua Elevators
20.40
1. T. Financial Corp.
Owan-Kility Glass
2
Chase Manlist, Bank
SO
Oxford Paper Co.
*
503
27.80
Chrysler Motors
Pace Gas & Elec.
Soco
en
1243 15.ca
Cett Pentody
Colamb
$7
Colgate 1:0.
Pan American Airways
Co.
Paramount Pictures
Parke Davin Co.
53
Penny J. C. Co.
10309
Finn Salt Co.
1000
B4
509
103 145
In Greek the foreig
Pacie rol- Badvance
A fresh advance bands featured market. Canadian |ront, spenhended
in Canadian stocks, which were reacting to the higher markets in Toronto and Montreal.
Gilt-edged securities drifted lower on a gentral absence of support,
Gold shares met selective des
mand.
Coppers and oils were erratic during must of the session but lucked Orm at the close.-U.P.I.
Closing Prices
Gilledged Honda Holish Transport 30. 3974/80-
Consols
According to a report Melbourne, published today by posting on Monday. In addi-
Tel.
the Financial Times, Australlation 1,202 bales awalled cerii-tacao E considers that nothing has bapneation. pened un to now which would suggest that Britain could break hes formal promise that if the bas to make a choice between
16.
Conversion
1060-- fan 480-13/10.
Funding Loan 3%. 1920/09 433-15/10.
[CITY: LIGHTS:
13-11/16
Funding
1
Fanding Stock 3, 19097203-
1400/IN...
£914.
Sovinsen 27. 1935/85–€91-12/15, Savings 3% 1060/70 62 Saying 115/25-70%.
Banku Burelay's Bank "A" Lid ord--12-
Chartered £47 30.
Insurance
Union Insurance Corton—CA-9/10.
Alteraft and Motors Briton Motor Corp." Dadmiđa k
Ford Motor Co-Go Rd.
Ilewertes Delliery Co- 25+ 4180.
dan teria Associated Pla
Cement-
Pinelin Jchnion Associates Ord 21 7.
Coal, Steel and Engineering
Ford and Tobacco
DANKS. BAT
"Sapes ittter, too - you drink the Ara, then you eat the bottle f "
London Exprana darview,
„Hizitish American Tah. Co., Ltd- the Commonwealth and Europe,
032
L
3.
Uvitish 101st. cor.
1,!0.
tobacco Cu.. Lid-50s
Miscellaneusa Oxyge Canadian Puede My - 55954. Dunlop Bubber Con20 64. Hongkong 4 China Gos-13x wil. Imperial Chairment--34, KL. UNGEUL & VITIIS IKE Unilever Ltd --ORM 71yd.
l'aper Bowater Paper Corp Ord-4 xd.
Radiu and Electrical Astoclaked. Elegirical--dən İki.
the will withunt choose the Commonwealth.
INDUSTRIALS The Liverpool
market todo Cement cloud unchanged to of five to 35 English points and 708 to 924 American points under New York futures.
Raw cotton exports today, s reported by the New York Cot- ton Exchange, totailed 2,100,- 000 bales, again 4,242,714 bales shipped for the period last season.-U.1.1.
Wat on COTTONS L. Claw
Nanyanst
$4.40
109 244
200 13
241516.10 Bethlehem Steel
1303 18.00
2004 13.03 } Conversal Credit
18:50 | Commonwealth Elve.
16.60) Consolidated Edikon 18.81 Centinental Oil of Dei.
Crawn Zulierbach
505 : 10.70 | Cuban Amer, Sugar
Diamond Atkati
Diamond Gant
Daminion Storta
Dougin Areratt 1.49 Dow Chemicals
14,70
A.15 8.40 2010
14.20
1.40
1.45 1930
MISCELLANEOUS Samo
Yesterday's Closing
Vin Metal 1.
1.33
COMMODITY PRICES
RUBBER
COTTON
Jan
Spotl
Procter & Gamble Co.
56% Prey Bowes.......
Contract No. 4 (world) Mur: 2 : July: 2.08; Seal 3.0; Oct: 3.01.
3.18; Mar: 349; 4.15 Sept: 2,10; May: 15 July: Street: r J. Tub Cuba: 2.DA
Coen interet: 7,520 contracts,
Contract No. 6 (domestle) July: 698; Sept 5.30: Nov:
| 5.80; Spot-cents per b. CH NY
ex-duty: 5.73. interest
Pittsburgh Plate Class Pattiger Industries Pure D
Radio Corporation. Radio Corp. Brit.
Naython
Repobile Sle:1
Huynolds Metal Hoyal Bank of Canada
Sears, Ranbuck & Co. Shell Oil Co.
Safeway Stores...
Slutnt Reg. Paper
Selicnley Ind
Scott Fanur
Sinkler Du
Smi, Cline & French
Socony Alor
Sular Airers!!
O
South Puerto Rien Suger Suuthern Co (The) .... Southern Net.al Ga Stuthern Railway (Com.
Sands
Standard Oil of Ind
Oil of Cal.
Standam Oll of NJ. Sleep Rock (Trento Exge.j Stern Druż Co. Stokely Van Camp.
Stone & Webate:"
studeer-Packard Corp. Suhino Mining Swift & Co.
4.00 untracia. Texas Co,
FOREIGN EXCHANGE
NEW YORK
NEW YORK
Rex
rubber futures
today
Closing prices were:
hesitation
closed 40 points higher
to 10
Spot
16.10
Biay
35.10
points lower contracts.
with sales of 135
July
3504
Oct.
Dre
Closing prices:
Mar
12.93
May
20.00
May
July
23.05
JURY
Sept.
Nov
34.05
Jon.
4.70
NEW ORLEANS
Mar.
14.70
MDY
31.00
Closing prices were:
Covering in the May delivery
Su
$24.00
32
32.91
Canala
England ofklai
New Zealand
Although the Imperial
pre- ferences instituted of Ottawa in
1932 continue to dwindle imperlance, especially in view of the depreciation of money, Australia is not prepared to renounce her right to the pre- ferences which her agricultural products in particular_moloy, at Lundstrength of the Singapore July Electrical & Musice1-33 id present in the British-muret market shaped market sentimentel Kingdian Electric Co-80%-30
The Australian Government General Electric-32 34.
In the shipment market, Viels Shipping
is of the opinion that the prob- num offered one sheets at 341⁄2 Steam Nav. Co. deflem of Britain's
association cents, while Thailand offerings Steam Niveau depots, with the Common Market included three hovedbi Det
should be solved in conformity, buyers and tour sheets at 3974 10
Spot No. 1 Iss the international treaties rents a pound. now existing, that is to say, in was quoted at 35 cerit the spirit of the General Agree- ment on Tariffs and Trade:
Indo-Chine
ord-35a ki.
Stores
Great Universal Stores "X-TRA Marks & Spencer Lid-80% GR. Woolworth F. W & Co--525 72.
Textiles Goals 3. & P Lid=-245 7998. Courtauld -318 30.
Mines Anglo-American Corp of South Cons Goldfields of South Afrien-
Attic-171 3d.
Cors. Zine Corp. Ord-C 3. De Decra lef-1203 4140.
Free State Development & Invent- ment 10% d#_car,
lunghong Times 7940. Petaling Tin- lid fland ... Southern 74.
Unton Corp-Go Dd.
West
125.
Kinta Cons Lid-225
Driefontein Goldmining
По
West Rand Cons-233 71sd,
British Borneo Petroleum Bəndi- ente-041 650
British Petroleum Co., Zad-À
Buruk-dia tijd xd. Royal Dutch Patroleum-21345. Shell Tranapori & Trading-1938,
-Reuter..
NEW starting unit for jot oitcraft known "Air "Partner" has been do- veloped and launched on the market by Atlas Copco, loading Swedish compressed-u ale specialists. The unit is reported to have attracted great interest among the world's major jat operators.
The truck-mounted device is of the hot-air type and uses a Sturinn was done in the focal screw
Atlas unonekal
exchange market thin compressor of
murning at the following rates.n Copco's special design. It is U.S. dollars (per 1 claimed that the new unit will Sterling noter (per £1) reduce the starting time to bair Australian notes (per £1)
Indonesian ryplaši
(per 100)
Exchange Rates
and that it can be operated for sim tiesia (per 100) 10,000 hours without overhaul. Singapore (Geralta)
Ten units have niready been ordered by Scandinavian Airs Hnes System and orders have also been received from Cannila And New Zeeland. All Boeing
New Proposals
AMSTERDAM
The rubber market Was quietly
Prices steady today. clared in guilders, per kilogram, elt May as icllaws:
In London, the hope EX DATASE that the new pro-
1. rubber No. 2 rubber No. Ponala which the European No. 3 rubber Commission, the Jilgh WU-
No. 1 crepe thority of the Common Market promised
tim: ago for a
economie
2.78 buyers 2.74 DUYETE 2.72 buyers 2001 buyer
Dec.
Mar
Mer
July
Textron ine
Thtokol Chin
10 Water AR. Oil
Time ise............
Twentieth Century Fox Film Union Carbide
Ukon O of Cal.
Union Partite Railway
Unted Aircraft
Units Fruit
tinited
U.S. Gypsum
HANEW YORKUS-Lin Co
Closlag rates were:
Australia
skuth Africa
Other unchanged
LIVERPOOL
Closing prices were:
American Contract
.May/June
03
July/Aug.
Det/Nov. Dec/Jan.
21.63
21.15
-MI:/April
20.00
flxed Contracį.
New York
May/June
22.70
Montreal
July/Aug
Oct/Nov Dec/Jan. Mar/Apri
SAO PAULO
10.M 31.30
SINGAPORE to formulate some European
With higher overseas advices, Closing prices were: amociation will be and better
July overnight accept- received before the Common-
Oct. opened i wealth
experts have finished ances the market
ond cents higher
advanced
In the United States, the sharply.
average price of one-inch cotton With short covering and at 14 designated spot markets This conference, according to a reserve of selle during the was 84.01 cents,
rise profit-taking "was well Total sales were 15,847 bales.
but absorbed
lower sheels-UP.I. apart · from
their talks.
Other subjects of discussiori at
reliable source, include:
SUTH
The balance of payments neglected situation of Comman buying of two and three Rss wealth countries and the world for June shipment Futures: position of sterling, following No. 1 rubber per 10. May 100-1015 The restoration of external con-
June 100-1013 verlibility of the pound.
No. 2 rubber per ib. May 00-00 Na. 3 No. 4 Spot rubber unbate
"
103-104
:
tr
5.72 16,9%)
The question of increas- ing expital to finance the No. 1 pala crape
Blankel crepe economie" development of the Commonwealth.
LONDON
18.05
agreements.
Agreed Merchant Rates
707 jets-toaving London Aleport Swiss -France:
have been (esting the Air Part-Selling 747.
ner for a period of two weeks. Belgian Frencr; 861.
Maximum
SUGAR
LONDON
Closing rates were:
Amsterdom
Brussels
J'rankfuri
Mian
1. Klockholm
Pari
Vienna
Zurich
1.04 1/16
2.11 17/32
2.2 5/10 3.804
2.51 8/10-2.01 11/15
2.70 9/10-2.70 11/20
20.02-10.0214, 140.37-140.421 11.772-11.78 17471-17473.
15.00-13.001,
14.00-14.5012
72.87-72.00
12,10)1-12,2016
Others unchanged.-U.V.I,
METALS
NEW YORK
Cloring prices were:
Lead May July Zinc May
July
Copper May
July
Tin
July
LONDON
י
30.p
11.10
9.50%
30.010
31.23
101.004
jaib
Prices of metals closed today in sterling per long ton as fol-
NEW YORK World No. 4 sugar futures closed today unchanged to. throw points higher with soles of 373 contraets."
Domestle No. sugar closed lows unchanged with sales of 68
Tin spot 2935-291% contracts.
Steadiness in both markets Cordel
I-month Iackad za was attributed more to a
rather -aggressive selling
densand than -- any
beyond rouline needs of the trade.
The possibility of inter-
The rubber market was un- governmental commodity certain with spot qualed at-20%
pence per lb. Prices: The question of increas- No. 1 spot
Sattlernent house tering. ing the resources of the| Juna International Monetary Fund Jury/Bet and of the World Bank which are
Oxt/Dec. was discramed
Annual at the
General mistiefs, elf barla, porta meeting of the governors of there Mega Juma need July
Estate orige then May. | Heruitutions; at New Delhi last
October.---France-Presse.
Thick May
UPI.
3-month
Zing Bod half
Buyers Sell
781 204
тать
U.S. Rubber
Carp.
18. Smelling
U.S. Stes!
US. Steel 7 P.C. PF
Warner Bros.
Waukesha Motors
“Westinghours All Brake
respon- sible for the booking of the Altin for 5,000 tons of scrap 7 in May at 62% 1.1.0. from
Colombo to Hirohain.
Elsewhere business was slow with further bookings noted in 27% the Great Lakes and U.S. gult
AL
crades for European directions. The coal murkei was generally quiet.-U.P.I.
$20
FAST
FREQUENT SERVICE
TO
EUROPE
and the USA
on Pan Am
World's Most Experienced Airline
For menzatient, call your trural agent or Szundia Mov
Prona_27131, Hong Kong,
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P.O
كلة تفعل قلبك
R.M.S. "HIMALAYA" NOTICE TO PASSENGERS
SAILS:
BAGGAGE:
Thursday, 30th April, at 11.00 p.m. for the UNITED KINGDOM, via Manila, Singapore, Colombo, Bombay, Aden, Port Said and Gibraltar. Passengers are requested to vend ALL BAGGAGE to the Hongkong & Kowloon Wharf Co.'s No. 1 Godown No: 6 GATE, CANTON ROAD, by Noon on Wednesday, 29th April, 1959. SPECIAL. NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Company's Godown for loading on board by ship's slings only. EMBARKATION: Passengera should embark between :
4.00 and 10.00 p.m. on 30th April, 1969.
Subject to alteration with or without notice.