Page
•
ANSPORTATIO
Cunard May Ask Government For 'Queens' Subsidy
London, May 4.
SHIPPING circles here today reliably reported that the Cunard Steamship Company would shortly ask the British Government for a subsidy, not a loan, in building two ships to replace the Atlantic "Queens."
The Govertament
might
be
nsker lo contribute about £40 the cost of inillion towards
liners, il
buliding the
added,
The Cunard
was
Company was expected to provide Mr Harold
the Minister
Watkinson, Transport
of
du
and Civil Aviation, with details of its plans for the new liners including their sign and probable "cost, withla the next few weeks,
WITHIN 18 MONTHS
If the Government agreed to The Camard proposals, the keel;
John
of the tint of the new "Queens" | would be laid down at
Brown's Clydebank yard within the next year or 18 months.
Record Stock Prices In London
London, May 4.
Record stock prices con- tinued to prevail today sparked by good company reports and the announco- mont of higher gold ra- serves near the close.
Industrials. were again the
The ship would be ready for fire of attention. Engineer- service is six years times
Shipping circles also reported thoi the Cunard Company was not in favour of nuclear pr publon for the new Reutur.
Dim Outlook Shipowners
liners.--
For
London, May 4.
the in very
THERE are no signs of any
improvement in fortunes of shipowners und
are consequence orders scarce and the outlook for ship building is not Food J.C. Mather, Chairman o Cam- mel Laird and Co., suld today
In his annual report.
"Nur are immediale prospects much brighter in the steel in- dustry although there has been n slight improvement in recent weeks," he added. Cammel Laird and Co, are maritime and
constructors. mechanical France-Presse.
Merchant Ship
Reactors
London, May 4.
on
THE CHINA MAIL, TUESDAY, MAY 5, 1959.
Australian Economy Stronger
Than Anticipated
Paže
HONGKONG Wall Street Market
STOCK EXCHANGE
by
Our Own Cerrekpuna ret
Business done on the Hong-
mately $1,178,000. Noon quota-
nctions;
"As the financial year advances, it is
evident that the strength of the ong Stock Exchange this Australian economy is considerably mang mounted to approxi greater than was earlier anticipated," tions and the morning's trans- says ANZ Bank's April Quarterly | Bhares Buyers Bellera Survey. "This strength has been revealed in two sectors which are u ank 640 044 40 particularly important for a rapidly developing country.”
"First
ment
is the great improve- in the outlook for the balance of oversea payments. Australia entered the year in
would balance
vicinity of A£33 says the Bank.
"This fortunate gain on over- the expectation that there $003 account has been matched bo heavy adverso by unexpected strength on the of international pay. homo front. his Budget the ments during 1058-50, following Federal Treasurer anticipated no sirength in the ican Comparatively greater
than Hind in 1950-39 adverse results of Tarket
been experienced In the pre- the coding Anancial year," Survey
the
upon moderate
the
the
CITY LIGHTS:
and the skyscraper t
on me, boys!"
London Express Service.
BANKS
K. Whart Dock
Provideat
Valst
DUS
108 30
Irregular After Late Profit-Taking
Liggett Meyers Tub. Co. Lily Tullg Lockheed Alterati
Late profit-taking knocked down industrial department and left
American Telephone lost more than two points. A fot rise in Du Pont was, hacked away
and Allied Chemical
than uropped
point, more
off. Icading steels slipped
less than Mators did a little 8.10 10 8 nothing.
41%
(9). 110 1150 Taikoo
... JIS
109 s
INSURANCES
Union millon,bard..
7213
200
SUPPING
Wheelock 5.43
DOCKS, ETC.
B$
65
8704135
500 11,70 2000 133}}
LAND, ETC.
195
Hotel 25,70
100 @ 25.60 100 25.10 301% 334 2100 K Lend Humphreys 14.81 15 1000 14,80 Realty 1.375 1,00
RUBBER
Amalg Trust
26
11
continues. "In event, loan revenue has for ex- eceded the Treasurer's earlier | expectations.”
"Even taxation is down by the anticipated A£ 40 million, which seeins likely, the Treasury appears cortain to end the
3.65 3.571 10,000 & 9.5114 50002.55 2,35 3
| Anancial year in a far stronger A Tawal 3.125
position than anticipated, and Sungaia..
the treasury bili issue is un- likely to be expanded by more than A £50 million during the full year."
Near-Balance
The Bank concludes, "The remait would be near-balance between the depressing effects of oversen operallons and the buoyant Influences of internal financial polley. There seems Ilokelihood of any mate- rial alteration In bank Equidity, with small con. sequent effect either way on businem activity through financial Influences."
preceding financial year," ins shares were particularly
continues the Bank. "Omcial Investment strong. Ford pared
Agures a frym
of capital from overseas motors list while Duntops rose
during the slx The Ume would thus seem for a re-e higher dividend,
Blue-
months from July to December to be appropriate chip stocks weTË also in de-
1958 reveal, however, that the loxation of stringent credit ruto of Inflow at A£105 policy, In order to prevent the million had bren for greater position of somewhat deliente than in the comparable months balance from being upset 道
in the way of any previous year
to restrict business ac- post-war period."
M
Gift-edged securities, how- ever, drifted lower on quiet dealings.
Gold stocks advanced on broad front with attention for used their way by US, press comments on a decline in Americus holdings.
on
Coppert were higher atisfactory proft statements.
Oils were mixed, but rubber stacks were firm.-U.P..
Closing Prices
Briti £8-7/15.
Gulledged Bonde
Transport
J. 1973/158........
Cunmule 24%-£$1-13/10. Cansols 4-£75. Cunverulen Lvan 3. 206-11/18.
*
1000-
1950/05
Funding Luan AR-135/18.
Funding Black 3. 1903/2004-
CIJA.
C
Funding Loan *
1000/00
Bavings 3 1955/65-£51-15/10. Savings 3 1900/70-12.
Savings 3_1905/75-£76-11/16.
Banks
Barclay's Bark "A" Lid ord-Bis. Chartered Bank-47 Jongkung-EN.
Union
EVEN British firms and £1-W10.
S the
Energy
for
Atomic
national Authority have developed commercial re- Britain's first actors — guclear driven merchant. hip, I was announced herd today.
Əssursinen:
Their secret plans have al- 10 0 Tendy been submitted senior government committee which today.
begun a two-day before decielts which they will choosa,
The coemittee, headed by Mr
Clyll Thomas Glabraith, Lord of the Admiralty, is making the investigations In
decision private. Its
Is not
expected for reveral
China Mail Special.
Insurance For
Air Passengers
nionths.
Canberra. USTRALIA'S domestic
Airlines will be obliged
to insure "oach passenger for £6,000 under a bill now be- fore the Senate.
airlines
For Australios oporating overseas services, the liability will be increased trem £2,950 to about £8,900 for each passenger.
the Introducing the bill, Minister for Civil Aviation, Senator Shato, Paltridge, "gald |
was no that at present there compulsory system of passenger Insurance, but most domestle. *irlines Insured passengern cant death or injury for about 21,000, 12:
The provisions of the new bill would cost writes
288,000 in mastce premiums, compared with the
M.
Tancance
Lesurance
Aircraft and stetors Brittat Motor Carp Ord—t 40.
Co-Cla..31.
Fard Brotor Co
Breweries Dialer Com-23 10.
Improved
of
UTILITIES
27%
Tram 28.30
20
Meantime there were many
features etnunch
among the Issuer outside the group used to calculate the averages. There volatile Thlaokol Included the which at its best was up more than 0 points, Smith, Kiine & 7 and Norwich French rose Pharmacal löst. that amount to
the contrasts show
in the
Brugs.
Loews Incorp,
Lone Star Cument Ca. Lowenstein & Bons,
National Dairy Prod. National Lead National Steel Corp.
New York Central Noranda Mines Ltd.
Now York, May 4. several bulwarks of the the stock market irregular.
M34 } Schenley İnd.
99
37
Scott Paper
Sinclair Oli
3016 | Smil, Chine & Prench
Socony Habl Of
Baler Aircraft .......... Mouth Justa Rica Sugar Southern Co. (THE)_ . Bouthern Nation) Gas 19
Bauthern Ballway (Com))
derd Brands
| Standard Ol of Cal.
1914 - Rlundard Oli of N.J.
Sterling Drug Co.
Stakely-Van "Camp.
Htone Webrier
Studebaker-Packard Corp.
Tide Water Aman. O
Time Inc.
4071-Cont. Waents
Twentieth Century Fox Film
Unton Carbide
Union D of Cal.
11
173
McDermott J. Tay
41
McDonnell Aircraft
Block Exge.)
(Am.
15
Blesabi Iron Corp.
30
Minnesota Mining
143%
Mission Development Avanto Chemical Co.
14
10
Standard Oll of Ind..
Montgomery Ward
Motorola Inc. National Biscuit Co.
10
时
National Cash Iteg. "A"
60%
Bi
1/24
Bwitt & Co.
Texas Co.
274
Textron Inc.
015
Thiokol Chem
Nurfolk & Western Ny
North Amer, Aviation) Naril-west Airlines. (Com.)
45
Oils Elevatora
Owen-illingla Glass
Oxford Paper Co.
Mi
Pacifle Dad & FIG.
Union Pacific Railway
-
gains
Parke Davis Co.
Paramount Pictures
Pan American Airways
United Aircraft
United Fruit
Penny J. C. Co..
110
US. Foil "D"
Philip Morris
016
น.ส. Oypm
U. Fine Co.
Procter & Gamble Co.
Piney Downs
125"
U.S. Rubbe
UR. SmeltËTAR
Pittatiurgh Plate
113
UR. Bleel Co. of Conada.
Publicker Industries
11.4
V. Meel
Pure Ou
44
Radio Corporation
Hadio Corp. Pref. Faythoed
ran
Republic Steel
0524
increased | Raynolds Meta
70
druge
Royal Bank of Canada Bear, Roebuck & Co. Shell Oil Co
8221
Safeway Stores
10%
Saint Reg. Paper
Douglas Aircraft ran up more than 4 and Martin 3 in a strong aircraft group. Several of the
reglatered electronics running to points. Oils were Irregular."
800 28,00
28.70
# 250
Star Ferry 113 Your..
increased
101
000
1100
100
101
Pitasy
Bowes
sharply
C. Light
(0) XD 181 18.00 2500 101
Electric
+
23 20.10 2144 44 27,50
300 à 18.55
300 10.30 415410ly
200 27.30
2000
27.90
28
10 J01
6700 201
..28.78
29
100
2014
13.70 15.80
Macao E.. Teleption INDUSTRIALS Coment
Dairy
.... 15.00 Watson 1400 T Lane, Crow.
COTTONS
Texilies.. 4.925 4.7731 Nanyang 6.10 8.23 INVESTMENTS
Jok, micul.
5.00
Allied .... 4.35
41⁄2 6003
4,40
Exchange Rates
Livity.
The February relcase funds from Special Account **The outlook for the vas designed to this end, and balance of payments is thus may be necessary to make
Anicial and | further releases in the closing remarkably
likely some stages of the what appeared
year to prevent months ago to be an adverse the taxation drain in the Anal
A£140 quarter from settlement of around
causing undue million
well be restriction on business expan- may now reduced to something in the sion.
improved,
Yesterday's Closing
Business was done in the iccal
exchange market this morning at the following rates:- U.S. qollars (per 315 * Sterling Retea iper £}). Australian notes (per CS) .. Indonesian rupian (per 100) Flea tesla iper 2005 Singapore Giralto)
COMMODITY PRICES
RUBBER
NEW YORK
COTTON
NEW YORK
Conlon-
Rex rubber tuttires closed 10- day 20 to 55 points higher with sales uf 150 contracts.
Closing prices:
Closing prices were:
Spot
30.21 ROI.
May
July
15.9)
Oct
20.03
Dec,
23.30
May: 30.25" July:" 30.35---Sept 36.25: Nov: 35.80: Jen: 35.50; Mar: 35.65; May: 35.45.
MAY
July
Balding and Materials Acrociated Eprijansi, Sevenk-die Pinchin Johnian Associates Ord- 30% Tibet.
Costeel and Engineering Thabrook & Wilcox id-4794. Vickers dlmy. ♫
Food and Tobacco Brita Anierican Toh. Co., Lia- ras cor.
Imperial Tobacco Ca Lid-$81⁄2 6d. Miscellaneous
British Oxygen Lid. Org-Bas. Canadian Pacifle Rly- 654. Dnlop Rubber Co- ud.
Hongkong China Glas Imperial Chemical-3is 1.
Lyons & Co-la d
Unilever Lid-1000 +1⁄2d.
Paper
Bowater Paper Carp Urd—494 30.
Radio and Eléctricas
Associated Electric- 0.
Electrical Atuxical-15%.
English Electric Co-3d.
General Electric--32) 24.
Shipping
momentum
The speculative buying Inove ment icer way late last week today, Ethered
U lifting prices around a cont pound before the urgent demand and seen led. Spot No. 1 Rss was quoted at 30 cents.
The
AMSTERDAM
rubber market was steady today. Prices closed in guliders per diogram, cif May
collows:
No. 1 rubber
'No. 2 rut:ber
Ma, 3 rubber
No. 1 repo
SINGAPORE
Indo-China Steam Nav. Co. defpathy with ord 355 04.
P&Steam Navigation def ord
Stores
Great Universal Stores "A"_s 10.
MarksBponers Lid-01s 34- Woolworth F. W. & Co-33, 34. Textiles Coats JAP Liddy kl. Courtaulda Lid—MI TKO.
Las Anglo-American" Corp of South |Africa—172 Sc
Cona, Galdfields of south Afries- 579,
Can. Line Corn, On) De Beers der-13ks 494. Free Stats Development & Invest- mens-lis prid.
Hongkong TID=49 40.
Patatine in 30. Randma (40.
2.97 buyers
Closing prices were:
LIVERPOOL
8526838
Contract No. 4 (world)
10
dividend. In the Bristol Myers rose nearly points al is high while Nor
wich Pharmacal than 4
last more
polnis and Emlib, Kline French roso 7 points,
*
+
>
a
A long list of electronics Issues ran up sharply. Gains in the group ranged to nearly four points. Denver & Rio Grande, up 2 peints sustained the rails.
more than Vanadium roSO point in an otherwise narrowly irregular stcol section,
Thlokol ran up 3 points. Bell & Howell galbed 5.
Today'a volume was 9,000,000 shares,
Of a total 1,204 shares traded, 485 were higher and 550 lower.
American Exchange volume was 1,030,000 shares.
בא
United Gas Cory."
物流
华
UB Steel 7 H.C. PF
Warner Bros.
Wackeda Motor
Westinghoure Air Brake
Westinghouse Electric
Western Union T. Co.
Wert Va. Pulp & Paper
Winn-Dixie Stores
Woolworths IK. W,
Zenith Radio
P.OR.IE.A
COMPANIES
PASSENGER/FREIGHT SERVICE
OCTWARDI
PENINSULAR & ORIENTAL S.N. CO.
LEAVES UJE.
Salled
Salled
3/
DUX XX.
Ia Fort
11th May
31st May
"CORFU"
"OHUSAN”.
"COROMANDELA Exiled 20/4
5,72
13.06
22.44
3. 10
20.45
Bonds volume $4,980,000.
amounted to
1.01
Dow Jones closing average wero:
*CARTHAGE“
ǝ industriale
025.00
20 calls
107, 15
£5 fe
B1.54
23 #100k
313
40 bonda
4.92
"SUBAT" *PINJARRA" "CANTON"
Comm, future pster indax ..
101.50
E
Sept 3.00-3.01; Oxt: 3.06; Jan: 3/04: Mar 3.16 May 31 July: 3.17: Sept: 321: Spot-(centa per ib. tob Cube1: 3.00.
Opin Interest: 7,710 contracts.
Contract No. 6 (domestic)
July: 3.18; Bepl: 5.81; Nova: 3.03; Spots per in.. ČI
duts: 8.25.
Oper Interest: 3,959 V.P.1.
NY
Contracts.com
Ex
METALS
Prices follows;
Tie
Spot
3-month Cupper
LONDON
closed
Closing Prices
Abitibi Power & Paper
Aida Ine. Forp.
Algoma Stei Allied Chemicals Allied 1.c. Aula Chalmers Arn. Brake Shoe American Airline American Cyanamid C. Am. Güz Alectric Am. Home Prod. Am. Mach. & dry. American Motul.... American Bariling Am. Sugar Ret. Amer, Natural Gea American Tel & Tei American_Tob. "B": Anaconda Copper Arms Steel AFIICALP Bank of Montreal Baldwin-Lim-Ham. *KINIMOY --#-Oltio` Beneficial Finance Bendix Avinilon Corp. Benguet Con
Bethlehem Steel
Barden (Thal Ca.
British Amer, Oil
Campbell Boup Co.
Celanese Corp.
Boring Airplane
today
43
Buyers Ballerm
Burroughs Add Machine
Calif. Packing Corp.
7631%
734
Canadian Prine
184
70416
Cat. Tractor
Spol
2321
2323/2
3-month
233
234
CIT. Financial Corp.
Closing prices were:
Lead 1st half
May
201
70%
Americau Contract
Aug.
70%
21.03
Zine Jel half
May
7091
22.2
751%
21.30
Aug.
7431
76
21.00
20.979
Mixed Consta
May/June
2.99 buyers May/June 188 buyers July/Augurt
3.04 buyers October/November Decembersignuary
| March/Apri
The market was marked up harply at the opening in By July/Aug
Overseas and tho October/November United States rubber agreement | Proenber/January and ruled quiet at higher level; MaretyApril fluctuations within limits.
May/June.
narrow
SAO PALLO
The afternoon started with a further sharp advance on re- newed buil buying
ABNEAR
893526
All prices unquoted today. In the United States, the which average price of one-inciu cot- at 14 designated spat brought some short covering in ton its wake. Futurest
markuis was not avaifobic....... No. 1 ubber per 1. May 103-100%
Jn 100-1035 Total anies No. rubber por 16. May 101-10%bales.-U.P.I.
No. 3
31.
No
Spot rubber unbaled janket cap
Southern. lita Cans Lid=+#2# T{G}; Union Corp--90 3.
Wert Dirletontein Goldmining 130T 34
West Rand Cultāte..
Birlik Hornes: Petroleum Syndi 010-849 - KVAR.
about
£33,600
80
they wang kabara- vander: the voluntary arsye Chin | Mu Special
No. I pas crepa
LONDON
101-10134
29100
109-10935
003+}
100-107
The zubbor market was, firm with spot No. 1 quoled it 30 bence per b. Prices
ko. Has woot mua 3036-0035
| Betileriesă: house barm!
WIC 17,220
SUGAR
New York metal futures were
unavailable today.--U.P.I.
FOREIGN EXCHANCE
NEW YORK
Closing rates were:
Canada England official -RYE DO-LIKYS
AL
Australia Now Zealand Bouth Africa. Others unthanged
LONDON
Closing rates were:
New York NEW YORK,
Montreal World No. 4 sugar futures | Amsterdam
MineIn Frankfurt closed today unchanged to 1 sudby point higher with sales of 227 kroon 301-50% | contractă."
Jalypso
Bejadi Petroleum Co., Ltd-, ÖELDAKE
Hayal Dutch Peltola-£15-7/18. Katilo crepe thing-june 24,
Transport & Trading--12
Domestic Nod sugar closed Paris
Vienna 110 points higher with sales rumen of 130 contracts.
Others
Chrysler Motor
Club Peabody Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credi Commonwealth Mec. Consolidated Edison - Continental Out of Del. Crows Zellerbach Cuban Amer. Bugar Diamond Card Dominion Stores Doughs Alteraft Dow Chemieta Dupont de Nemours Fatman Kodak...... El Paso National Clas Family Finance Corp. Firestone Tyre de fubber Firm Nal. City Desk Jurd Motor Co. of Canada Fan Motor
General Dynamics
deners Electri General Foods
GETHER Motors
10343/10 | “Gen Pub, Tug 2011
Gen. Tyre & Mulber 201517/32 | Georgia. Facide
desty Ol
Girin. C
2,80-11/14 | Goodyear Tyre, 2.67-1/14 dzyminen, Airerkti Gulf D
TREBAMOR Boho Power Imperial O
Inty. Shatner
„Machinen,
International Netw
Kadasa C. Power: de LAKNÁ
Kenstacptt. 'Dopper
Kimberly Clark
HOMEWARDS
*COBFU* **SINGAPORETM "CARTHAGE"
"CANTON" +"PINJARBA”
"CORFE"
*"SOMALI"
"CARTHAGE"
Sailed 20/4 17th May 17th May 3rd June
LЕАVЕВ П.К.
3 p.m. 8th May 8 pm. 19th May pm. Bih Juna 4 pm th July Now 15th July Bp.r. 31st July
p.m. 18th Aug.
1st June 10th June 10th, June 3rd July
DUE LONDON
8th June 23rd June 1th July 6th Aug 17th Aug.
1st Bept.
21st Sept.
9 p.m. 25th Aug. 284 But.
Via S'para, Penang, Colombo, Bombay. Adơn à Pt. Bald.
emit Colombe * "SINGAPORE” & “SOMALI"
and Bombay and extend to Hamburg, Rotterdam de Antwerp. * "FINJARRA" procesde S'pore, Ades, P. Sold & London, thence to Hamburg, Boiterdam & Antwerp,
BRITISH INDIA SIN, CO, LTDALAM
“PULTALA”
from Japan for Singapore Panang Rangoon, Calcutta.
"HAVILDOR" due 21st May from Calcutta
"BANGOLA”
Kong,
*
due 7th May
Chitta-
8th June from Caleutia, Hangoon,
Penang & Bingapore. mila Oth June for Japan
#
saile zzri Biay for Jap
P. & O./B. L. JOINT SERVICE
"ORDIA"
"OBRA*
“UMARIA"
"ODHA"
in Fort
sails Oil May dus 71 May
mile 8th May Gue 11th May galia 1215 MAY
·
dus 7th June sails Jth June
from West Coast India
for Japan
from Karachi Hodi Cochin, Tuticoria Singapore for Japan from Japan
for Bingapore, Penang, Bombay, Karachi, Dubel, KAWIEC Barah Khorramshahr z
frald Japeth
Ко
for Singapore, Bambay, Karschl Dubai, wall. ERATAN & Khor= ramabah
EASTERN & AUSTRALIAN S.S. CO., LTD. WINGHIA LÀM Jordan 31 kk Bằng
"NELLORE"
Anis mind May, for Sydney & Mehauran DIRECT
Fonds ziet kay skila tɔrd May for- Labuan, Bandakan, Skriabad, Aydney, kal- bourne 604-Adsiside
All vázzels have Wherty, to sell, at any porta.on ar off the roula & the roule à milligs are subject to chaves or amridanuss with or without noticá
For full particulary opisły F.- MACKINNON, MACKENZIE & CU. OF HONG KONG DD
De maio de Now: