Page
More Take-Over Bids On London Market
London, July 6.
The encouraging economic outlook con- tinued to stimulate selective buying in London Stock Markets today and in- dustrial equities again advanced ́on a fairly broad front,"
Steel shares were partleutarly favoured and under the lead of Steel of Wales advanced by a Bogineerlog- shilling or inore. electrical equipmeni and cottoy texile shares all showed good Rains, in stores Corringe went nhund by several shillings on take-over talk but Harrods lost ground in the absence of any further bid DEWS House of Fraser also cased,
Hurst Park
Many nilscellaneous gained ground and on oulstate- Ingvement was the rise of uver 30 shilings to 67% shillings In Hurst Park Club - the rare-
CALIPER -
news of a further
takeover bld. Properly sheres wire wanted an e-jurchase Inance issues were in renewed demand following the on! pur, hire-purebase sales Agures,
Gold shares had a quiet slay but there win selective buying i sa of certain
Although
Rolls-Royce
CITY LIGHTS
همه
MILLINERLY
"She's been deliberating long enough to make a tal-over bld-instead of the pros and cous of a thirty-bob hut ↑ "
Ladon UP DOILIEN
Chicago Grain Market
Chiengo, July 1. Wheal was
but other Arm, grains were lower today on the
Takes Over Co. Chicago Board of Trade.
off
At the cluse, wheat was off London, July 6. to up at corn off % to 25% Rolls-Royce announced today rats of 11⁄2 to 19%; new oats on that it had acquired the firms to hai rye uft % to up 4;
unchanged to and Com-soybeans of H. J. Mulliner pany Limited, motor carriage and lard up 2 to 8 points. builders.
Soybeans also declined after No terms were dia-j
an early steadiness, said that Closing prices taken so that per busha:1:
closed.
The
announcement
the stop was
Mulinor bodies could com
tinue to be made on Royce and Bentley chassis. "They have been making bodies exclusively for us since 1946,"
a spokesman said. "and the collaborated companies have
closely.
1
conto
Rǝlis.
Wheat No. 2. red
Spot
July
Sept.
Live.
March
Ming
107)
3917-2 1995-1907. 20 1987.
Can No.. yellow
To make sure that this arrange. ment continues Rolls Royce have bought the
Sprit
128-120*2
company
July Dec. March
12210-1213
138-1177
19034
out."--Reuter.
Misy
123.
ye
July
coppers failed to hold all their
Supl,
1237
Daty
carlier substantial guins,
July
D3
prices were still well
Sept.
מש לקיר
balance under the influence of Soybeans, No. 2. yellow
the three shures for one offer
by Nchanga,
There was
in offer
Improved---UPI.
little movement
metal hares. Ols were quielly fen und rubbers
Closing Prices
filledged Honds
British Tu
£071
Conversion
207-3/16.
Finding
204-0-10.
1970-4
452-7 16
1
..
RAH
...
1MA-
1959/59
Funding Stock
Funding Lo
C00
14
31999/2014-
Banks
BIGUZEN-
Burclay's a "A" Tad ni:--578
Chartered Bank-40-911.
Bunghorg-lance Union Insurance Canton-23-2/38, Aircraft and futors British Mator Corp. - 14. Ford Motor Co.
Breweries
Distillern Co-27 d.
Building and Materials
Autociated Portland Cement-66
Pinchin Johnson Associates Ord-
249.
Cond, Steel and Engineering
Food and Tobacco
THE CHINA MAIL, TUESDAY, JULY 7, 1959.
How hard do YOU have to work?
SERM L
HONGKONG STOCK EXCHANGE
Our Own. Correspondent”
USA Britain France Italy
W Germany
1.lb. of BREAD Baletes
1 of MCAT 2 wyże
[WULAUTTER] ; 22 vesten
43 tes
2 hours
$$
59 mart
53 minstra
12 mo
31 magies
1th of SUGAR montes
$mes
$1
18
Man's SK81 $7 tes
bort
12 s
59
22 meters
$7
2 Bers
2
|Bar of NYLONS #1 mimis.
ILK Bank
$1 minit
35 tes 12 montes
16 metai
請
43 MERETES
BREADWINNERS' GUIDE: It takes the average American worker 21 minutes to . Study this earn the price of lib, of meat; the average Briton 48 minutos.. Michael Rand graph for a five-nation comparison of workors' buying-power.
Industrials Soar
To
New High On Wall St
Business done on the Hong-
thia Exchange Stock kung morning amounted to approxi- mately $1,183,000. Naon quala- tions and the morning's transac- tions:
Abarom Huyor Kellors Kules
BANKS
•
East Asia. aig
10
K. Wharf 101 110
Amaly. Trust
443
ANSPORTATION
FIRST NUCLEAR-POWERED
MERCHANT SHIP
TO BE LAUNCHED JULY 21
Camden, N.J.
MARINE history will he made on July 21, when
the world's first atomic-powered merchant 107 vessel, the n.s. (for nuclear ship) Savannah, is 10 launched from the slipways of the New York Shipbuilding Corporation at Camden, New Jersey.
31%
INSURANCES
Union T 70
GOO
70
Lombard. 34%
BILPPING
Wheelock 3.10 0.0 4000 41
1000 v
6.15 6.10 #.19
4.10
DOCKS, ETC.
Provident
Talkoo...
1300
LAND, ETC.
1 Hotel
28 23.20
.
2.30 ານ,
HK Land 344 342 2158
Humphrera 13.70
1000 Realty 1.57 1.825 27500 49
10,2-0 HUDNER,.
2.69.15,000 (a
15.50
1.50
1.00
2.673
3.10 3.75
2.55
20.40 19
IU
170 17.90
1003 +
Electria . 27.9 27.00
$100 v
1500
MOZIO F. 10.70 Telephone
20.00 27.20
1900 M
23.10
61
C011
Cluett Pestudy
2000 4 100 1
300 20.30 10.10
#776
lgate Palmolive Ch.
4015
Culinaidan, Carla
Cu
INDUSTRIALS
Cement
Commercial Credit
enlidated Fas
01
STONES, ETC.
Confunchtal Oll of Del.
Crate Co.
Clown Zellerbach
Cuban Amer. Sugar
New York, July 6.
Steels put on a late show of strength today as industrial stocks soared to
new all-time highs.
tu
Goins In the steels ran to five puints in Youngstown, most of 1 accumulated in the last hour of trading, and
three in Wheeling more than and around two in U. S. Steel,
Litton also put on a late rally to Aoish with a gain of more the electronics. than six in
added two II General Motors Its group. Universal Oli Pro- | ducts was up more than a poln
on a late in the uile, trading block of 35,300 shares.
meluts
Owens Corning Fibertass lost | CLC. Unancial Corp. around three a new law to Chryder Motore feature in the downside.
Today's volume was 3.720,000 shures,
Of a total 1,250 shares traded, 600 were higher and 423 lower. American Exchange volume was 1,200.000 shares.
Bonds volume amounted $6,100,000.
Closing Prices
Abitdi_Pwr, & Paper
Aldea Inc. Ay Algoma Sire) Corp. Alled Civats
Allied M Inc.
Steels were stron;, as a group with most of the leaders at new 1159 peak. Motors were higher and new tops set by some of the pivotals. Non-ferrous were in favour ሀሩ were selected drugs
carp and electronics. Tyres, ofis and aircrafts were lower.
Standout
American Home Products was
an Individual standout, rising seven points at its high before running into some mild realising
of proats, Vick, Warner Lam-
|
المناك
Diamond Alkali
Diamond Card
Donition Stores
Douglas Aircraft
Dow Chem Leat
Duponi te Nemours
Faster Airline
$ 30
4034
0314
Eastman Kodak
Paxo National Gas
ນ ນ.
Femy Finance Corp.
.42}
Pitusluo Tyre & Rabber
Allis Chalmorz
First Nat. Cily Batik
7012
Am Brake Shoe
53M
Ford Motor Co. of Cana.
American Airline
bot
Ford Motor
Amican Cable & Radio
Georgia Pacific
1934
Gener Dynamic
American yoznud
Amer. Faren. Pawer
14
Am Gas & Electric
An Home Prod.
29
Am. Mach. & Pay American M-151 Am. Natural Gas American Smelling
Am. Surar Hef, American fel & Tri American Tak. ""
Aracnada Copper
Arm Strel.
bert and Schering all were Antur wanted.
Among the steels, gains
Alins Cons. Mining Baldwin-Lima-llan. Baltimore & Ohio
around point were noted in Bank of Munucul Armen, Bethlehem
Colorido Benettcial Finance
Fund & Iren, Republic, U.S. Bendix Avitician Corp. Stiel and Wheeling Steel-alienguet Cans,
ethlehem Steel
af which also hit new light or Boeing Alplans
Burden (The) Co
The year, Alcoa, Reynolds and Burroughs Add Machine Kaiser wete
in the tisk Aiver. On
Gains of two and Dhree points
Sput
21270-24
Nov.
21027
aluminitans
strong Aluminium
Jun. birch Barley.
Six
210-1
Arm and nelivo,
214-215
New York flour
200 . sark
120-135
13.20b --U11
Yesterday's Closing
Cenasal Electric
General Fooda
General Mictory Gen. Pub.
0414 Gen. Tyre & Bur
Getty 611
Glidden Co.
Goodrich (I. P.)
Goxycar Tyre
Grumman Airerafi
Ilan Organ
152
Gulf
202
Heyden Newport Corp,
20
Hoinesake Mining Co.
Huaman etris.
1972
Idaho Power
401% Imperial
Ingercoli-Rand
faland Staci Co.
77
Interchemical Corp.
14:
Int'l Business Maching
4916
In Burvester
36
International Nickel
BOY
International Paper
Int'l Tel & Tal
John-Sanville Cu.
301 Kaiser Industry
wae
British Columbia Pwa Caur. Packing Com
Kansas C. Power & Light
43-74
Kennzcatt Copper
ALE
Kimberly Clark
gyott Meyers Tub, Co.
97%
30
Lily Tulp
354
2314
Lattes Ind
12712
115
Lockheed Aircraft
3142
40%
Loews Incorp.
ment Co.
Manufacturing,
or more appeared in Eastman Kodak,
Eaton Ex-cell-O, General Foods, Glen and Seliering. Alden, Litton
k. " Copia. Can Brewers Campbell Boup Co. Canadian Pacie R. Case (J.) Co. Cat. Tractor Celanese Corp.
COMMODITY PRICES
SUGAR
NEW YORK Ciosdug prieur
per 1b.:
Contract No. 4 (world)
RUBBER
NEW YORK
rubber futures closing
LIVERPOOL.
Closing prices all in pence
Lens Biar
Lowenstein & Sons. Meeroll J. R McDonnell Aircraft Merabi Iron Corn.
Mancisty Mil
Miss Development Mursalu Chenilet Co,
Montgomery Ware
Motorola The.
114
National issull Co.
Cash Reg. "A" National Dairy Prod.
0234
National Lead Nations Steel Corp. New York Central"
Tawah Bungala..
UTILITIES Traqi
Youghal
C. Cight
31 394 3300 1.
Patry 10.10.39 4700 Wat
10
Lane, Craw. 10% 3h
COTTONS
Textiles. 0.46 6 5620)
Nanyong
3000 #
11.30
0.10
INVESTMENTS
Int.
Aid
I.K. & F.E.
Invest. X Tin.
Ebu 11⁄2
nis.
.co eta
Eonu 10.00 10.00
113
11.00 路雎
Tho Idea for the ship was concalved two years ago, and t has been
construction
since last year. After launch- Modernising Swedish
under
Ing, the US £31,000,000 Cabout craft 13,000-ton £11,070,000), wil be taken to an enclosed river basin for tests starting in August.
More than 3,000 men have
been working on the 598-ft ship,
which is scheduled to receive 1
27.30ying passengers
carly in 1981.
2000 ATOMIC FUEL
1114
Shipyards Programme
LTHOUGH Swedish ship- buildors face the same enrg problems during the current shipping dopression, as their counterparts cltowhore they tho soom to have entered "ralloy" with greater
orvos of strength.
The name of the vessel was chosen by President Dwight D. au Eisenhower, commemorating the the first otinal Savınındli, Eleamship to cross the Atlantic, in 22 days, in 1810.
16.20
Mrs Mamie Eisenhower, wife will christen of the President,
four During the three or years breathing space afforded by large backlogs of orders, the big yards in Sweden are spend-
45 the Savannah at her launching. ing their reserves on a massive
Savannah will receive her first scale. allotment of atomic fuel in
This they believe is essential March 1960. This is experted in supply the craft for 300,000 Swedish shipyards are to ob
of proper share miles at travel without refuel tain their
or more than Il trips building orders when the de- ang,
when ship. pression ends and around the world.
Except for a streamlined de- owners resume their normal sign, the Savannah will not differ replacement programmes. much from any other modern,
New York
Cotton Market
three-deck merchant ship. The
atomic
As one of the leading Gallen- power simply replaces burg builders painted out,
The has been estimated that, the conventional fuels
It
05-
power plant, in which
nuclear suming a 20-year life of ships,
heat will produce steam
to world shipbuilding capacity ex-
operate conventional turbino, ic ceeds average replacement de- placed in the bottom of themand by 58 per cent. centre of the ship.
PRECAUTIONS
in the Savannali Blons
2
When the recession ends, therefore, they expect compeli- keener
Mr Harborough Fill, the Pro- tion for orders to be New York, July 6. Ject Engineer for the builder, than ever before. Only the most Cotton futures drifted emphasises that safety precau- eflcient yards, employing the will most modern building techni- through another light include double radiations ques and production planning
systems, can hope to survive. session today with shield,
She is scheduled in try her prices staying close to
sea legs in July 1900, when the BOLD PLANNING previous closing levels, ship and her crew of 109 will undergo supervised ocean tests.
even
The bold planning and con- At the finish the list ruled Some alx months later, passen-
seven gors and freight will be taken on siderable expenditure involved 20 two points lower
There will be accom in these projects lu increase pro- higher. Futures started two board.
Swedish ductivity will make points higher to a point lower modation for 00 pasingers.
mace menac- What her destination will be shipbuilders even Orleans this morning. New
they LTC al after Slates Marine Lines B- ing rivals thinn finished live points higher.
to the sumes "commercial operation of present
world's ship- Old July: was also a strong the vessel is unknown. But, as building industry.
Mr Lill point in the market an the the first of her type,
will be oh- The threat ascime curlicated stock tropped tabelleves that she
served closely wherever the greater moportions when i 10,301 bales,
anes and he is convinced that borne in mind that many of the publle will understand that the Swedish yards are already "nuclear-powered ships are en-modern
standards. by British tirely dependable and safe."-The gauge of their present China Mall Special.
effelenicy is that despite a ship- building wage scale which is about 50 per cent, higher than that in Britain, Swedish yards are fully competitive with Bri- tish builders in price,
Unised el cater as of one 26 totalled 114.100 bales agatnak 132,000 bate. tyt year.
Liverpool futures finished 10; lower to ve English points higher, putting them 665 to 837
American points ander New Inland Freighter Loss
Advisory PROSPECTS
The
has
for the amall The International
inland freighters which in
Eriksborg yard Committee states that the world 59th textlics Industry is out of the previous years have played an Gothenburg, for example,
recession and cotton
Great Lakes probably the biggest order book consump Important part in tion is rising. Grey goods Lotrame are considered poor as a of any shipbuilder in the world. the With a contract for 52 ships day continued slow but firm-result of the opening of UPI.
St Lawrence Seaway.
totalling 1.1 million deadweight which The cargues
These tons, the yard has three to four "canal ships" once, moved from year's work in hand. In terms inland terminals are now being of output, moreover, Eriksberg and carried by the larger vessels ranks fifth in the world,
more impressive the Seaway this fort is moving through This Consequently many of the 200 when i. is realised that the out- smaller ships are now idle with put of between 230,000 and 6.74 little chance of new employment 300,000 tons a year comes from only three building borths. The 1550 this year.
41%
Exchange Rates
Mar.
32.31
Norwida Mines Lld.
Norfolk & Western By.
200
May
North Amer. Aviation
July
Del.
433
Northwest Alrines (Com.)?
York futures.
On Mobleron
.06%
NEW ORLEANS Closing prices all
Ots Elevators.
BOY
in cents
Owen-Illinois Glass
Oxford Paper Co.
MY
per lb.:
Paclite Giri & Elre.
Spot
33.45
Pan American Airways
ZAP
all
vents
Rex
Judy
34.01
T'aramount Pictures
4735
priers, all in cents per ib.
al.
32.20
Parker Davis Co.
July
34.0.1
Dec.
33.32
Johny J. C. to,
Babcock & Wilcox Ltd.
Supt. def.
Sept Náv. 2.77
31.39
Atur
3250
Penn. Salt Co
104
MAY
33.76
P Morris
2.81
Vickers Lid-32s.
J.
Jan. March
03.05
Jusiy
32.35
Pitney Bowes
Det
Procter & Gamble Co.
012
March
Brit American Tob. Co., Ltd-
Ins
2.875
May JUN
Dec.
3233
Plburgh Plate Glass
Publieker Industrier Pure Oil
July
Ms.
Imperial Tobacco
10. J.-G
Sept.
SINGAPORE
Radio Corporation Haul Corp, Pref.
Oct.
D
Spot-o.. Cuba
Total Sales: 71 contracts.
Open interest: 7,587 contracts.
cents per
Closing prices all in Straitsi per lb.
lb. Lob.
Ray theor
Malayan
American Contract
Jalyfjak,
22.45
ports:
Oct/Nov.
Contract No. 6 (domestic)
No. 1 July
Dec/Jun
2035
Shell Oil Co.
Sept.
307
No. Aug.
No. a Jufy
Nov.
No. 3 July
Spot-IC. R.Y. ex-duty),
Bu 4 Jul
Spot
rubber
15-30 90th-D
Mar/Apr. May/Jo July/Aug.
2127
Safeway Stores
21.50
21.30
Saint Rog. Paper
Mixed Contract
Schenley Inc.
Scoll Paper
July/Aug
Sinclair Oi
„Amith Cane & Frencla
No. 1, pale erupt
Dec/Jan
23155
LONDON
Mar/Apr.
21.35
Solar Aircraft
May/June
21.50
South Pucrio
July/Aug.
21.30
Southern Co
per l
18-267
SAO PAULO
Tho Southern National Ga Soliera tailway
Rice Sugar
per klei
Unilever Llet 005 104.
100.
d.
d
det
אן,5
March
Pola Salçe: 31 contracts.
mfurem; 3,29, 2011D"
Upen
METALS
Closing
NEW YORK
prices, all in
cents
MiscellaneouE
Be Oxygen Lit. On-is 30.
Canadian Paciile_ Riy-433.
Dunlop Rubber Co
Hongkong & Ching Go-1349
Imperial Chenol-30% 14. Lyons & Co.-12.
Payer
Bawste taper Corp Dreh-bä
Badlo and Electrical Assecinted Electrical-5 Electrical & Musical-534 English Einetric Co-lin Grigal Electric-30% B.
Shipping Indo-China Seas Nav. Co. ord-- Od..
P&O Steam Navigation tief ord -STA 1150.
Storce
Greal Univara!
Stare "A"-
Marks & Spencer 116-31, 2
Woolwarth
40.
Cool J & P Ltd-23. Courtaulds Ltd-3. Anglo-American Corp of SouthJuly
*
& CD-323
Texties
per lb.: Lead
July
Mines
Dept. Zine
Africa-1024 0,
Beut.
-710 $44.
Cana, Zior
Ord-- Pd.
Con Goldiste of South Africa Copper
Do Deers due in a
Free State Development & Inveris
ment-11s 44d.
Hangkang This 10!£4.
Potujing T-0
100.
Bouthern Kinta Con Ltd-
Sept.
T3B
July
Sepi.
Rubble Steel
Hleypoids Metal
Anyl Bank of Canada
Seura, Kochucks & Co.
Muscany Mobi],"DIT"
1003
Business was done in the local wasfilem! exchange market morning at the following rates!
1.3. dollars (per $1)
Sterling notos (per ED Australian notes (per 1) Judanesing ruplats
Blur Ticals iner 1991
Singapore (Stralf)
12.53
per 1003
3.75
20.62
Some operators doubt whether yard has an average of one ship. these ships will long survive in launch and one ship trial per
month. 101 face of the new situation.
New British Ocean Terminal Is Biggest
Closing prices all in pence
No. 1 znot
Betterment lunso feyang'
2910-201 20-20 Oct/Dec.
277,-25! General markets, c.l.l. insis, porini 2014-2910
Oct/Dee
Jan, March
| April/June
July/Aug.
·July
Aug.
11.5819 11.77b
Palalo crepe
10.00)>
213-20
thick Jury 30% AMSTERDAM
11.07 Closing prices all in gulders
20.50
per kilogram, c... July.
28.00 No. 1 rubher
No. 2 rubber
Not rubber 120.COM 103.005 No. 1 crepe
LONDON Closing pricca, all in sterling
2.15 buyers
2.73 buyer
2.11 buyero 2.94 ver
-UPI,
COTTON
per long ton.
Union, Corp is
West Briefontein
idrising-xi
Buyer Sellers
3d
West Rand Cons-25 10
British Borges Petroleum Synti- cat-651,
Spal
-monti Copper Spot J-month British Petroleum Co., Ltd- Lend ist half
July Oct. Burma-13. Stoval
Petroleum Eine 1st half Dutch
July Shell Transport a
Ast Trading- outer.
70015
10
210
2440
220
70-1
791 per b;
Spot
70
Jidly
Doc
ام
NEW YORK
Closing prices ati in eruzetro Standart Brands
3TH
***** 31.25 Average price in US at 11 de- mgnated at markets! $1.20 centy Total salci: 30815 bales.-UPL
FOREIGN EXCHANGE
NEW YORK Closing rates: Canada England oMelal
M-days 5-day Others unchanged.
LONDON
Closing rates:
Clasing prices all in cents | Copenhagen.
36.00
34.70-20
33.31
New York
Montreal
irussels
Frankfurt
Stockholm
VIENNA
Zurich
Standard Oil of Cal. Standart D of Ind. Emplar Ol of N.J. Sleep Rock
Sterng Drug Co. Sinkely Van Camp. Stand & Webster
Studshaker-1aekatul Corp. Sunshine Mining Bwift & Co.
Texas Conc
Taxtron Thickel Chem. Tide Water A.
The Inc.
Tel-Cont
Warrants
Twentieth Century Fox Film
Union Carbide
......
Union Pacle Rallgay
It Alert
United Fruit
1.04-15/18 United Gas Corp, 1.81-7/33
Z.81-7/33 2.01%
U.S. Foll "B"
U.S. Gypsum
US Line Co.
08. Rubber
U.6. Amelting
Ul. Bleelanceru U. Steel 7 P.C. Pr 2.61-3/10-2.01-5/18 | Wamer Bros. LEAS
Westinghouse Air Brake Westinghouse Electric Western Union Tel. Cz. West Va. Pulp & Paper Winn-Dixie Htores Woolworth (KW) Zenuh Bagles
2.00-3.00!! 140.33-140.40 19.30-10.35! 11.20-11.7691* $4.5494-14.55 72.00-72.00 18-2676-10-13
UPI.
Europo's first ocean ter
minat capable of baith- ing at any time fully fagded super tankers of 100,000 tons or moro way opened recently at Finngit, Lock Long,
Firth of Clyde, Scotland. The new terminal and jetty are on ostension of the installation which has operated since 1951 and the British Duchon was the 1,000th tanker to
herth at Finnart sinçe that time, The now tanker discharge facilities at Finnart will Increase the pipeline capacity by about one million tons g year.