Page
·
ATION
POOR PROSPECTS FOR JAPANESE SHIPBUILDING
THE
HE brief flurry of shipping orders which faiset! the hopes of Japanese shipbuilding yards at the end of last year is not likely to be repeated in the near future, according to Japanese Transports tion Ministry officials.
The Ministry has officially
sinted that prospects for the Eisenhower Gets A
shipbuilding
during industry
1950 ore "poor.“,
The continued recession
in
the International shipping in- dustry has caused foreign or-
ders for Japanese-built vessels
Plane That Glows
PREHO
to decline, a Ministry spokes-jet airplane wi'l provide him
mon added.
NO ORDERS
Transportation
were
received
by
comfort, con- with every venience and safety factor Ministry that American aircraft en figures show that no orders gineers could devise.
gight Japanese The 600-mile-an-hour
curtains
latest the systems, four (euch with u thrust thun 10,000), Indi-, life-ratis, and life-
yards in Jarnusry.
(THE CHINA MAIL,. TUESDAY, MAY 26, 1959.
No Concrete HONGKONG Proposals On Small Colonies
STOCK EXCHANGE
Dur Own Compan
Wall Street Late Sinking Spell
Street Suffers
New York, May 25,
Stocks suffered a late sinking spell which pared gains throughout the list
and gave the market a somewhat mixed appearance,
Soho key issues managed to fin) Not Cay Bank Buxher's done on the Hong-weather The tale selling and Ford stolor bo, of Cana..
hold on to mdel of their earlier Ford Motor Kong Stock Exchange this morn- ing amounted to approximately gain. $874,000, Noon quotations and the mofitling's träfiškellons:
skates zatyāká Bellars Balek
By AN ECONOMIC CORRESPONDENT
London, May 25. Under an unemotional heading "Smaller
Colonial Territórios (Future Status)" the AS politicians at Westminster have boen discussing one of the trickier economic INSURANCES problems Britain has to face.
They were talking about 80-territories might achieve a true
territorial
units ad-internal self-government and so
odd"
ministered by Britalis which are cut to a respectable minimum
Joceely elps
18 kink - 89TIS 80$
PAS KE Lombard,
SLIPPING
Waterbom
Whewlock
拉醬 "non- their drpericence on metro- DOCKS, ETC, viable that are incapable so politar power.
K. What s
far DA can be immediately foreseen-dt making their way
on Independent states,
Political Aspects
product
of
the
20150
B00
72 74
50
6.500
61000
1000
5.90
Lock
4
could well be Provident, Also there
a courte cases where much would result eventually In
to sufficient viability complete independence,
11.30 1.80 1500 24
Merit LAND, ETC.
BK Hotel 37,80
Land. 3314
Band Humphreys 18.03 15.89 3000 in 15,79 Really...
1.03 1.023 8005 2 1.813 QUEER Amalg
* 200 61 07,50
255
1360 A 2.475 11.000 or 25
same
Trust, an
A. Tuwah
Sungals.
UTILITIES
1000 331
2.35 21% 20,000 Er
3.10
2.10
Tram 2011 28.00
棍 103
115
Any optimist who looked for
Those who take this problem congrele propostila ás ar end seriously are fully aware that DRESIDENT Elsenhower's
Parliament's attracting investment to such
is no easy silver-and-orange deliberations was disappointed. territories
matter. For this House" did he mbes And it can be expected that the than agree wthout division that British Government,
I desirable fot Her determining a "positive policy," Majesty's Government to evolve will have to legislate for this, a positive policy for those possibly by introducing smaller territories ...
form of insurance for investors
them agnirat star Terry to prolect
Your natt.. discrimina- nationalleation or
C. Light 18.20 18.20 tory, taxation. Tax-free holidays will also Arms for inverting have to be examined,
Whatever course is determined the whole problem
nord- of
demand viable territories will
and much administrative as
as Britain has conomile skill
Lo use in ever been called on her Imperial history. London Express Service,
in radar
as
Naturally endligh debate concerned itself largely In Fobrubry, Japon received warning
with political aspects of the orders for
vessels turbines three
problem. Bot In the anat eregating 27,500 tons while in of more
khalykla the problemi an March, foreign orders amounted vidual
economic, che.” A peddle can' to two vessel totalling 16,000 vests.
be as politically
Aware, tons.
administratively
capable ORANGE TIPS for The outlook
Japanese
kny other, bit-the world The tall and wingtips are yards has been further dam-
ing what it is — it they don't fluorescent orunge pened by the decision of the painted
have hard cash to pay their The visibility. tofor maximum Transportation Ministry
would be nothing way, Il 144 long, and teatriel Japanese shipping llaes aircraft is
short of immorat to cut them buliding vessela vulside Gov-130ft. 10ins. from wingtip to
adrift an independent ernment subsidised shipbuilding wingtip.
#
There are communications can maintain which Local shipowners had been facilities
with Washington from trying to persuade the Ministry contact to grant permission for them any part of the globe. to let orders while prices were In the President's nuity are at their present low levein,
two tables flanked by chutes, But the Government, in co- Beside the President's chair
the which calls operation with the Development a telephone, Bank of Japan, said that ship ping concernIN would only add
13
50
Hypothetically of course, there could exist a people imbued with desire for in- dependence that they were pre- pared to drift out of the world's elbhomle mainstream, living a for the barebones existence suko of th abstract.
Exchange Rates
Electric 27.70 $7.00 4320
17.10
Macao E,
Telephone 25.00 10
18.30
INDUSTRIALS
Cement .. 3211 33
100 G 5500
1300 07
STOLES, ETC.
*
Dedry 1.10.2010.49
Watson
Lane, Ch. 1180 COTTONS
Textiles..
BH ANEXUS
Vibro
The ralls Anished the session dria Brat tible With that aver: agu at its beat sinco carly August 1958. General Motors was under pressure near the close and its loss was extend: ed to drotura a polit.
There were some good guinis its the main liat, especially in the drug group.
Bristol Myers was strong on favourable Wall Street commest, At its high this issue was up more than four points. Ameri- can Home Products ran up more than six at lls best in the drugs and Vick was up points before running profit-taking.
Telophones
American Telephone
were strong. Chemicals
eight
into
gains running to around a point
or more in Du Pont and Union Carbide.
Cobrila Pacific Cleneral Dynamles General Electric Generel TOUR
General Motors
on. Pub. Üll
Gen. Tyre & Rubber City Oil anddan Co.
Goodrich (B. F.) €6. Goodyear Tyio-1, Grumman Ateraft
Gulf out Hammond Organ
teyden Newport Corp. Homestara Muning Co.
Blueman Merce
Idaho Power
Intperial Oil Ingersoll-turid
Inland Steel Co
Injetchemical Corp.
It mustness Machiner Int Harvester...
International Nickel
International Paper
John Manville Co.
Kaber dusity ...
Kimberly Cink ..
The
Peraatiount Pictures
c.co. Pinay, J. Pann. Hall Co.
$10. Davis Co.
65 PRIUS Morris
68
Pay Bowes
604 Procter & Gamble Co.
| Piltsburgh Plate Glass
50% | Publicker indulthier
Puie Oll
#2
Radio Corporation
24 Ridio Corp. Pret.
471 | Raytheon,
9014 | Kríubļie Střel
118
60
10
40
| Sicyolda Meisi
Royal Bank of Canada
Beira. Roebuck & Co.
Shell Oil Co.
tesy Sintes
Įsire fog. Pape {Schenley Inc.
*Scott Paper
43
Sineiskol
Smith, Cline & Frážk
1025 secony Mobil Oil
47
| Beier "Alretati
341⁄2 South Puerto Rico Sugar $12
Southern Co. (The)
44% | Southern National GH 9216 | Routhern Railway (Coin.) 117) Jalandars Drands
40%
Standred of of Cal. 551&tarded Cil of Ind 13% tenderit Oil of N.J.
Rock Toronto Exge.)
BEP fiere Deus Cu
*14
Ciloksty-Vis Comp.
Sjone, & Webster Studebaker Packard
Kanzas C. Power "&" Light"
Issues Kenecott Copper
had
Liggeti, Meyers Tob. Co.
|
Me Tulp p
Lockheed Aircraft
Loews Incorp.
2212
Lone
Star Cement Co,
33TL
183
47!
40%
Chrysler was a soft spot in the autos and most of the ells were 'frasonally lower,
General Time was Up more than three at its best in the electronics and IBM run more than nine at its high.
Today's volume was 3,260,000 thares.
Of a total 1,232 shares troded, 382 were higher and 643 lower.
American
Exchange volume
was 1,010,000 shares.
Bonds volume amounted $0,720,000.
Closing Prices
Abfühl Pwe. Papar
Alden ine. Aty.
Algona Steel Lumi.
Allied Chemicals Alled Mille Ine. Allle Chamets
Am. Brake Shoe
Airline
Amarien
Cable
Corp. ......
American Cyanank
Iladio
Co.
Amer, Paran, Power
100
17.33
3.0 8.10 1000 a 8.30 8.70
503
... 13.10 13.20
150
13.10
400
13.10
375 13.10
INVESTMENTS Int. Invest.
5.00
• 1000 a
5.25
300
0.85
ASTI.
1000
5.55
Am. Mach. Fars
Al
1.81
1.K. & F.E.
Lavest,
4% 4.40
.co
1000 A
4.30
Ani, Natural CN
Tel
Burner was done
local In the unomelat exchange Market This morning at the following rates:-.. 5.73 B. dollars (per
15.95 Sterling notes (per 41)
noica per él... 12.51 Tupiali per 100) B.30 Siam ileals (per 100) Singapore (Stats)
I would nesan·
pilot; attendants, or communic-not, however. be unduly cynical tions operator.
to doubt the existence of such philosophical paragons.
to their already massive debi TWO SAFES by undertaking building pro- grammes at the present time.
As a result, shipping lines will be permitted to order ships out- side the Government-sponsored programmes only on two con- ditions:-
The contract prices are low and
There is firm evidence
that tits construction of
the ships will cause na hitch
Opposite the President are o radio and tape recorder, and a the other end of the conipart- ment stand two solny which convert into double beds,
Carpeting the colour of golden wheat covers the floor, a lux- and the upholstery is lured fabrle in light blue and belge.
whatsoever in the repayment London-Toronto Rights
of outstanding Ivana.
According to the Transporta-
in Canuda Bone may now tion Ministry, Japon wou foreignNDER an agreement signed orders for 38 new ships during By trans-Atlantic services from the fireal year 1958-60 (which London to Toronto in addition ended March 31). The. 38 to their services to Montreal. enables The agreement also worth Tran-Canada
Airlines to carry passengers between London and
versels, 783,233
which amouniqu
tons were
$188,200,000.
10
As in previous yours, tankers certain points in Europe. The accounted for the bulk of agreement comes intu effect on foreign orders, segregating 19 March 1, 1000. vessels and 382,843 tons 74
per cent, of the gross tonnage
ordered
by foreign buyers
duting the year.
SHARP DECLINE
The export figure for the year was far in excess of what the industry had expected the hud larget for export orders
beer sel at 500,000 tons -- but was primarily due to u sharp decline in steel prices during August, and September.
In these two months, orders placed from abroad amounted to - 440,000 tons, Moal of this
ondage was ordered by Gitek. warts.
The Urget set for the 1959-60- fiscal year is 700,000 tons--but experts in both the industry, and the Government
gloomy about the prospects of reaching this figure.
are
Yesterday's Closing
Assuming ther; that all those the have non-viable people same social ambitions
as the rest of us, the hard fact remains that if they can't pay their own way, their way will have to be paid for them. And that incans that it will have to be paid by Britain,
LONDON CLOSES IRREGULARLY
London, May 25.
Merit Independence Prices on the stock market closed irregularly
comic reasons
aport it's
unprofitable 10 expeel that
by
unadorned
or
higher today.
Motors,
and
were mixed with
were im- werd him.
electrical Olls electronics Lobitos dull on its quarterly
Britain will full this obligation the advance. Sicct and several moderate
Industrials continued to pace Gold stocks were higher In trading. Coppers haaderuts grants-In-sid. Such a dute is sa engineering shares
self-proved. morale supping as to be defeating. Nor in practice con it equipment. be on a scale to give say Cambla shares were firm
standards
Gilt-edged securities ran into
· ឆ. the same social
persistent #mall selling and Glasgow,
The only other obvious course urished lower.
improved. is the application of develop-
in The
Dollar stocks
ment aid and investment. This Greek bonds eased
non-viable foreign bonds list. In mony Cases
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK Closing rates were: Canada England omcial 30-days
90-days
Uruguay
LONDON Closing rates were:
The Transportation Ministry and the Finance Ministry are at present conferring on possible New York ways of helping the shipbuild-tontreal ing Industry obtain more orders Brussels
Copenhagen from abroad. Informed sources Frankfurt
dhe measure. which kien say that might be inkeh shority is to ease Orio restrictions on the ordering of Parts chips to be paid for in sterling.
British School For Airline Pilots DOLANNING ahead for Ho
time when the supply of pilots from the Royal Air Force will be insufficient, to meet the demands of civil affines, a school for alilito pilots, is to bì, lit up Boir Southampton, England.
The schook and the traiblity it will provide is a joint operi» fiod by Buat, Bhijih Euroßejti Always, the Mjulstry of This: – and Dell Aviation = 130
"Andries are expected to part In Septeinbae:0900 whan the
efuitment,
Stockhuln
Vier
Zurich
€98899
Mixed Contract
May/June
Jul/AUS. CrNow. Dic/Jo
Mar/Apr
Mayyong mga libra
SAO PAULO
| All prices unqualed today,
METALS
Closin
1.04-8/22 2.81-9/32 2.8114 2.01-11/32
tun at 14 designated
In the United States overage price of one-inch col-
he
Texa
MAY
Jul
pot
Zine
ninrkets was 34.69 cents.
MAY
Total tales were 9,713 bales, -UPI.
July
Copper
May
July
1.796.2.7012 140.1735-140.224
19.375-10.37
11.70-32.7012 174036-1746 20.03-87.0314 13.781-39.79
RUBBER
SINGAPORE
NEW YORK
report.
Closing Prices
Glitedfrá Bondi
British Transport 3. 1973/28~~ 2007 xd,
Consols 15-276-13718.
Conversion Loan
205-15/10.
Funding Loan
1959/CP-
Findine Block 3%. 1939/2004—–—–—–
C73-9/10
Funding Loon
CON.
prices were:
Del
11.55b
10.50b
10,b
LONDON
Closing prices were:
Tin
Spel
Copper
14.5015-24,5514 71.80-7233 32.1511-12.1836
The
advices and ruled throughout with fluctuations negligible. zine and half
There was small interest for
Spot Synonih
Kony
Att
lower sheet but sellers were feserved.
Other unchanged.-UPI."
COTTON
NEW YORK
market was up at the
opening on improved New York Lead and i
Au
Na. I rubper per 18. June 1943-103 July 10411-105
No. 2 rubber per it. June 100-100 No. 5
No. 1 pale crepe..
10-1
No. 4
..
Closing prices were:
Spot July MGE
Bpat rubber untailed
2013-10044 101-1049
$15 dm.
mikul orepe...
00-100
100-103
MES.
MAY
Juy
NEW ORLEANS Closing prices were;
LIVERPOOL
Clini
Horn Coultret.
NEW YORK
llex rubber futures today
May
1903/90-
Saving 5%, 1955/05-ENU.
Bavings 37 5000/10-02.
Savings 3, 1985/75976-3/18.
F' Banks
Barclays Bank "A" Ltd ord-37. Chartered Bank-441 80, Hongkong-EMIL
insurance
Velon, usurance Canton-44-
Aircraft, and Motors
British Motor Corp, Ord-Ju
For bintor C Co-o
Breweries
Distillers C-28# 1944,
Building and Materials an Associated Portland
Cenent-891
Finchut Jahnson Aksostales Ord—
Coal, Steel and Explüentin Babcock & Wilcox L1-30. Vicker Lid=334 Bd.
Food and Tobacco
British American Tob. Co. Lid
3s.
100.0025 100.
Buyer
Sellers
784
705
SUGAR
NEW YORK
World No. 4 sugar futures
Imperial Tobacco
Co., Ltd-
atiscellaneous Dritish Oxygen Ltd Ord-630. Canadian Pacific Ty-153." Dunlop Rubber Co--29 Hongkong & China Ga
Imperial Chemical-34 70. Lyons à Com=83% 10, User Licor
PAPUT
Dowalay Paper Cord Olt-481.
Hajio and Electrital Asociated theil ia d.. Electrical & Musical-da Engilla Flectrk Co-bland. General Electric: 340 3d
Indo-
aud Inv. Co di
* O Bieams Navikbilch det end
Młotus „Great Universst States "A"-40 450.
"Harks & Spencer Lid-63
Wodiwurus, k Catöku eisd.
Courlauke Ltd 34. Anglo-American Africa-1976, od...
con-18 33,-
closed unchanged to 40 polit closed unchanged to two points lower with sales of 58 contracts, lower with sales of 18
day: 30.731 July: 37,01; 8Septi tracia. 39.30: Novi 45.90; Jan: 35,45; Mar: 55; May 51.00.
LONDON
Domestic No, é sugar futures closed unchanged to one point lower with salts of seven con-
The rubber market was quiet tracts. with spol quolett al. 30 8/10 pence per lb." Prices:
No. 1 Ras spot.
Settlement, þau term:
July@Beyt.
Define
Inn/Mar.
Contract No. 4 (World) 3031-3091 || Fulkoka Sept) 5.84: Del: 2.94: zán: 3.17: Mar: 3.0f; May: 3.10
300| #pol-tesnia per in. lab Cuba): IRI,
Open Interest: 8.345 donirkets.
· General-merkela, vit darin, PÜSTEŞ
June and July
Kelate crapa -thin
Vilna
June
thick
..... Contract No, #: (despaälin), SENTIE 131 Spolajšatili per iba kit
Open Interest: 4,806 vi contratti......
Corp of South
Goldfields of South Afrio Con, Lina Corb. Orde Da Barra def-the 25. cor. Brew Blaja Pevelopment D vesimal" of*
Hongkung Tis-le 7d. - Petaling Ti
Rand-e 3,
Southern Kinta
1560.
Unkoli Colpes the
Am. Das Einetma
Home Prod.
American Metal
American Smelting
Am. Sugar. Ret.
American Tel
"B"
American Tb Anaconda Cooper Arint Blesl Atmour
Atlas Cona. Mining Baldwin-im-Ham.
Baltimore & Ohio Bank of Montreal Beneficial Finance Bendix Aviation Corp. Benguet Cone. Bethlehem Steel Boeing Airplane Horden Burroughs
Co
dd Machina
British Amer. O British Columbia PW. Callt. Packing Corp. Cána k of Comm. Campbell Soup Cu. Canadian Pacific N. Case (3.1.) Co. Cat. Tractor Celanese Corp.
CIT. Financial Coin. .......
Manhattan Bank
C Motors NE
Civett Peabody.
Colgate-Palmolive Co.
Colombian Carbon Co. (Nev Dommere(s) Credit Consolidated Edmon Continental Oil, of Del. Crown Zellerbach Cyban Amer. Sugar Diamond Alkon
Diemand Gand
Dominion Stores Dougins Alfernfi Dow Chemicals Duovat da Netngure Eastern ANG.
Eastman
E PO National Gas Family Finance Corp.
Firestone Tyre & Rubber
|
Lowenatelu & Sons.
McDermott J. Jay
McDonnell
Aircrati
Block Ex.)
Stesabi Iron Corp. Maruta Mining
Mon Development
Binnatto Chemical Co.
Montgomery Ward
Motorola inc.
National Cash Reg. "A
Nritonal Dairy Prod.
National Steel Corp.
Sunahf. Mining Bwift & Co.
Texas Ch.
Textron inc.
Thiokol Chem.
Mae Water Asot. Oil
Time Inc.*********
4251-Cont. Warrant
Corp.
Twentieth Century Fox Filim
147% Union Cartside
Cnton Oil of Cal
501
Imin Parlie Rallway
47T
United Aircraft
1014 United Frult...
31
Ca1⁄4 US. Fon "D"
United Gan Corp.
DI
32214
cox
National Biscuit Co.
|
Haliza Lend....
New York, Central
Noranda Mines Lles,
to
Norfolk & Western Ry.
North Amer,, Aviation
North-west Airlinez Com.
30
Oil Motinos
$112
Ous Elevators
76
113
New York
Cotton Market
New York, May 25. Erratic price swings in the October, 1980 delivery continued Lo dominate
dealings in cotton futures today.
Other deliveries
over
see-sawed
quiet July
narrow limits in dealings with nearby showing relative htiness In lice with the optimiste reperts from the drygööda trade and ardas-the-board Buying of dpot tatton
future aguil
adient ille
At the close the 1st Maled oft bne to bite paltija. UNCHANGED
The narkop opened up 10 to oft five potuia. New Orleans closed het lichanked.
Uncertainty. över status of the government price support pro- Stemine text year kept the for- | ward deliveries in a jittery con-. dition. New Orleans brokers were leading selles after a steady opening. October dropped from 30.80 to 30.50, then ce- traciód about half of the last ground.
Memphis spoi interests exjim- Corsa Lidated. the 1950 crop at about 13,300,000 bales compared with
West Delefontein doldrining 11,612,000 bales last year,
Went Rand Cond
The Liverpool, market joday gloyed unchanged to off fo British Borneo Peltolódi Byndi-English poinía alsd due to 803
American pókts Brlish Patrolqum" Co, Lid-din York, Tuhures,
Petroleum
under New
The cerfliested stock today totalled 4/1174", baino, cif 0,047 Tradiderite pales mom the previous post-
| Owen-ilUrots Ģima
Oxford Paper C
Paring Go &
Tire
Pau Ameriewi Airways
*
*
11.8. Line Co.
Us hubber... 119, Smelting
TA. Stee
19. Steel 7 V.C. PP
447% Waukesha Motore
Westinghouse Air Brako Western Union Tel. Co, West Vo. Pulp & Paper Winn-Dixie Storen Woolworth (K. W
4224 Zenith Nadlo (new)
P.O BI EA
COMPANIES
PASSENGER/FREIGHT SÉRVICE
PENINSULAR & ORIENTAL S.N, CO.
LEAVES UK DUE IK,
OUTWARDS "CARTHAGE” "COROMANDEL" "SURAT" "PINJARRA"
......“CANTON"
"BOUDAN" "SOMALI"
+
HOMEWARDS "CARTHAGE"> "CANTON" "PINJARRA" ±
"CORFU"
"SOMALI" *
"CARTHAGE"
"BUNDA"
.
xed 29/
itt June
Salted 26/4
mid June
Ballad 12/0
ikih Juse
Salled 12/3
20th June
Brd
Junk
3rd July
29th
MAY
din July
Ith
June
15th Jul
LEAVES ILK.
HUE LONDON
7th July
pud. Jure, p.. th July
Bt. 10th July
6 pm. 31st July #p., 19th Aug.
12th Aug.
1st Sept.
Zist Sapt.
20th Sept.
p. 17th Sept. Zial Oct.
Via S'pore, enemy, Colombo, Dombky, Aden & Pt. Bald. ★ "BOMALI" omits Colombo and Bombay and extende to Hamburg, Rotterdana Antwerp,
+ "PINJARRA" proceeds 'poré, agen. London, thened to Hamburg, Statlekdamm
Pt. 814
4 Адьяагр.
BRITISH INDIA S.N. CO., LTD.
from Calcutta, Rangood. "SANGOLA” due 8th June
Penara & Singapore ails 615 June 1er Jopen ~~HAVILDAN dan 14th June from Japan.
~1~351/71728 for Singapore--Peñasti
Rangoon, Calculia Chi
.
P. & G./B. I, JOINT SERVICĖ.
"OZARDA"
"OBBA"
"ORBIA"
"OLINDA"
In Port
from Karachi, Bombay,
Cochli, Tutico-in Slay put
Baile 20th Miny i Japon
- due 16th Junta from Japan
a
salls 13th Jure for Spore, Bombay, Karach, Bubal, __Ku- waft, Hatral & Chor- remihahr
due 24th June from Japani
Sails 231) Just for Singapore, Penang.
Madras, Cochin, Bam bay Karachi
Que 27th June from Karsehi. Bombay,
Cochin & Bingapore Balis 281 June for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NANKIN"
toads 2 June
all
th June for Sydney dud 18th July & Melbourn dùm 10th July *EASTERN dne 2nd July (rom Australia ·
walls 4th July, for Labuan, dendakan, Brisbane, Sydney, Meit Bolárne de Adelīša
All vessels have liberty to enű aj shy porta ôn or of the route a the route à sailings kro üüdisch to change de amendment with or Wlikout notice,
Fur full particular; oncały do
MACKINNON, BACKENZIT & 20 DE HONG POM LID