Page
THE CHINA MAIL, WEDNESDAY, JULY 8, 1959.
London In West Having Vigorous HONGKONG
Buoyant Mood
London, July 7. With London and Wall Street setting records of share indices, stock markets today were in a most buoyant mood but activity was great ly restricted by heavy settlement day for the previous busy account.
นคร
a
Although the undertone. Batisfactory British funds were
practically irregular.
bonds were quie! but
Foreign
Greeks
ralled after a dull start. Dollar stocks were mostly higher la reflection of Wall Street.
Industrials
DUEL
Industrials were mixed good features continued to be Steel Been an selcctive buying. shares were a particularly strong market with gains of around one shiling. In stores, Gussies were B on tvidend hopes. Brew- eries were firm and fextiles dull, Properly shares met n selective
hire-purchase demand while finance shares made further headway.
Gold shares moved erratica)- ly and closed mixed, Coppers
fell in sympathy with the drop
In the commodity prlee.
monds were dull.
Dis-
Oils treaded Irregularly with Ultramar weak spot,
Rubbers held steady.-VII.
Closing Prices
British
L07-13/10.
Giltedged Hands
Transport,
Consels 2-52-7/10.
Contol 4 £74.3/10.
Conversion
Loan
07-1/10.
Funding Loan
£649/16.
1272-16/16.
Tuning Lean
£9016
Od
10719/13--
1900-
105DY GU
Funding Stuck 3, 1999/2001--
By SYDNEY 5, CAMPELL
London, July 7.
LONDON and Wall Street have succeeded in get-
ting rid of much of their feverishness without losing their underlying firmness.
Both countries and most others are having a vigorous business revival. Britain's balance of payments is doing well. America's is not but Its troubles have been exaggerated.
of
exports As United States goods and services have fallen to five per cent of the national
When
wcre
and Italy expansionlit
Germany pursuing alleles before the war, external trade was more important fo them thin it is lo America right
output while imports have risen to the rame five per cent, the United States balance DfT BOW.
ments is in bad shape.
Business
Revival
quarter of this year ure recurrent.
The transformation of money
non- are at the peak levels of the
closing phase of the last boom Bond ylalds and other long rates are above that peak.
Because of the charged also 1907 and
time atitudies since because of the passage of which has mopperi up more
STOCK EXCHANGE
Our Own Correspondentge
Business done on the Hong- kong Stock Exchange this morn- ing amounted to approximately $1,100,000. Noon quotations and the morning's transactions.
Shares
Buyer Seller BANKS IK Bank
040 030 at Alo 10
INSURANC
Unton
of
mies which attracted short term capital and revived the United States golt stock in a continuing factor. To the extent that the Send only to Hussla, whose Americans and Canadians have Western trade for all the bally-bitten the bullet by bobsting the postwar liquidity it may be Previously, the United States hou is about half of Switzer- their money rates while Europe's that rules should go higher still had La large export surplus land's, the United States is self- were falling, they are entitled to before they and a new equili which covered its varionis give-melent.
the ensements Just as was Bri-brium. away. Now it has not and the
tain in 1957. giveaway still continue.
Significance
Doubtless this has some signi fiennee but the real significance is that each skie is still only five per cent compared with about 23 per cent for Western Euro and Canada and nearly fifty per cent for some individual Euro- pean countries,
It witt sink or swim not by the external sive per cent but by the internal 93 per con--that is, by its internal policies whith happen to be much sounder them isually credited.
Windfall
The windfall of German and other capitat payments which
rescueil the United
States balance of payment in the first
than one
But if so, it might be the last swing of the pendulum Exist- Even It. the true pressure on ing rates which are historically so high for North America may New York money and gold is much more serious
prove to be rather above than Washington below the average equilibrium believes, the authorities by allowing higher level over a period of coming | money rates
However much further are applying years. nature's remedy. At this early the New York rules may have stage, of the recovery the New to go, one should not ignore how York Bank rate and other short for they have already gone and dbne-China money rates and the Federal what that has Roserve's pressme on the banks Mall Spedal.
NY STOCKS HIGHER New York
IN LATE RALLY
New York, July 7.
Industrial stocks came to life just before the close today
to the accompaniment of late tickers.
ilst
whic
and
Goodrich (1) Co.
Goodyear Tre
Heyden Newport Corp.
Tan Husnon Beig.
industrial The
most of the staggerd through
weight of under the AUSSIOR profit-laking but just before the close demand developed for General Motors, abetid more than three points. This touched off buying for other industrials, bringing the whole list up From its Jur the day and
minus sims
Idaho Power
Imperial Ou Ingersoll-Rand
Inland Steel Cu
lows Interchemical Cup.
Int'l Business Machines converting Int'l Horventer
Into plus International Nicke The ralis up to the late Inernational Paper industrini rally had been the Int'l Tel. & Tel
1960/20
many signs.
Baving 3 2935 63-291L.
Savis 3re. JP00/70-12,
Savings. 196/73-77-3/16.
Banks
Barclay' Hank "A" Lid ard-675
Chartered Bank 4 d.
Tungkung-£54.
CITY LIGHTS)
CUSTOMS
"Any
invisible imports,
str
London Expreat Service.
Union 44-10/32,
Insurance
Insurance
market feature with suins running to point or more in some of the leaders. ralirond average
hilt High since August 1950.
Youngstown, which WIN
the around a point when
session up around
Wheeling Steel was up more than a point but the other truders Anished lower,
100, Publicker industries
151 Pure Ull ........
2011 Radio Corporatina
Cotton Market
New York, July 7.
Ixion
100 * 771$
28 704
4
200
Lombard,
SHIPPING Waterbout.. Wheelock
33
0.20 1.45
DOCKS. ETC.
K. Wharf Dock Provident LAND, ETC.
Talkoo
BX Hotel.. HK Lanú
100 0 20%
100 + 783%
200 13 7700
RANSPORTA
Pago 9
Rolls-Royce School Provides
Jet
Engine Training
IN twenty-one years of operation, the Rolls- Royce Aero Engine School has been attended 300020 by aviation specialists of sixty nations and by military men holding every rank from air marshal to private.
300 3000
0.20
100 44
1270 12.00 3100 12.70 Among the more than 37,000 J11.73 500 or 31,78 | students who havo completed
20 20
the special courses at Derby, S.S. United States
Airlinea
England, are a substantial num- 3411 30 1030 3434 ber of Scandinavian
4200 4 System and crew members.
40 3445
Jel 340 341 The Rolls-Royce R.A. 29
engine--developing up to 11,700
Completes 7 Years
1.00 1.023 1000910pounds of thrust-powers SASHE... UNITED STATES
Humphrey Jily
15,00 10.10
RUBDER
Amalg
2.00 2.575 45000 17 2.978
1.000 3.825 1675 3.0L
Truxi
A. Tawan. 3.10 3213
Surgala ..2375
UTILITIES
.
Trom ..... 28.00. 28.70
Star Ferry Ymaati
new Caravelle jetliner. 50002075 JET NETWORK
completed her seventh year of operation when sho
SAS now operates the world's arrived in Now York an 5000 4 23 largest pure-jet network with Tuesday, June 30.
of 516-mile-an-hour Since her maiden voyago 200 29.30 Caravelles. But the first SAS July, 1032 the Atlante ner has,
50 29.70
110 121
112
114
C. Light .. 12.00
Electric
His fleet
200113 years ago. 100119
19 No 17.50
2006 11
in
personnel arrived at Derby two carried a total of 478,084 par}{}£}= gorn on 310 erotings. This is The Rolls-Royce School is equivalent to 93.3 per cent of her normal capacity on each trip. a record unmatched by any
part of the company's "before, 500 1740 during and atter" sales service 200 17.02 The students attending the 500 13.50
27.70 17.00 1200 27.9 intensive
20 Cotton futures finished Macao F. 10.10 27.20
INDUSTRIALS
with Cement
un-
STORES, ETC. Dairy
Watson
In Crow
COTTONS
Courses are them- 1000 27.00 selves experts plansing and 1000 27.0 key engineering personnel, pilots
27.10 and line engineers.
700 or 10.90
4466
400
34 3414
500
15.20 10.30
14.00
15 18,70 13 10
The primary purpose of the students 3411 School is to put the
Ento contact with the new type of "hardware." In other words, they learn from the jet engine
Leif.
500 10.30
At the close the Hat ruled
Textile
0.46 D 1000 B two to nine points higher after
300 a $1 this opening
morning
Nanyang 10.00 10.00 500 10.00 INVESTMENTS changed to a point higher, New
Int. Try. to nine Orleans closed three higher.
The far months turned higher on New Orleans and commis- ision house buying. Steadiness In old July was nitributed to the drop in the certified stock. Some longs in the old July post- tion switched 10 the 635 months.
ESTIMATES
long
Allied
..
0.20 6.40 4000
1000 W
0.19 0%
4.33
UK & FE** 4.278
Ιηνικά
.. 12.40°
Chicago Grain Market
Chicago, July 7. Closing prices all in cents per bushel: Wheat No. 2, red
for
other passenger ship.
This popular liner has carried passengers castbound 230,515 from New York to Europe, and westbound 246,400 passengers from Europe (Southampton and Bremer- Le Havre, including
10 haven in the winter season) New York.
without
A breakdown by clarees shows that the United States carried 154,472 rst clues passengers: 139.972 cabin class passengers, For the engineers, the School and 183,540 tourist class passen-
training in trouble- provides
guu. replace- component shooting,
In her 155 round voyages the United States has logged more ment and standard service.
miles familiarisation than 1,100,000 Pilots, after with the engine and its coin-once experiencing a serious me- ponents, go on to the Rollschental difficulty.
The ship holds the Atlantic Royee recommendations handling. This course le laught Blue Riband for the fastest cost and westbound crossings of the Allantic, which she established an her maiden voyage. She cross- ased from Ambrose Lightship to Bishop Rock in 3 days, 10-hours, and 40 minutes for an average of 35.59 knots; and made the re- turn run in 3 days, 12 hours, and 12 minutes for an average of 3451 knota.
by the company's test pilots.
The instructors at the School have an average of 17 years with Rolls-Royce, seven of them instructors.
TRAINING AIDS
Gruimen Alem
out
Gulf Oil
11971 || Radio Corú. Pret
minum Organ
D
Raytheost
20% | Reynolds Meinl
100%
|
Floïnewtake, Mining Cò.
43
40
Royal Bank of Canada 234% | Sears, Roebuck & Co.
Shell all
quiet another session today prices firm.
Tel
4035
Co.
417 | Sateway Stores .. 300
ᏌᏁ
Saint Høg. Paper
51
44 Schantry Inc.
389
30
Scult faveT
402%
Stelar Oil
56
Bith, Cline & Frinch
39
101
154
Saint Alteraft
Sony Mobi) o
447
30%
Scrutis Puerto Rico Sugar
Jean-Marrville Co.
01
Southern Co. (The)
Kalmer Indust
10%
Southern Nation
Gas
Kayson C. Power & fight
412
Southern Hallway (Com.
Kennecsit Copper
1061
Standard Brends
The | Khoberly Clark
GO
Standard Qit of Chi.
new
Liggett Meyers Tob. Co,
tra
Standard Q of Ind
Litton ind
By Tip
Standard Oil of N.J.
120
Sleep Rogk
off
Lockheed Airerall
Sterling Drug Co.
Jate
Loews Incorp
3015
Sikely Von Camp.
demand developed, closed
Lone Star Cement Co.
#21
Stunc & Webster
the
Lowenstein & Sons,
201
Stobaker-l'ackard Corp.
four polits,
McDermott J. Hay
Sunshine Min
42+
MeDonnell Aircraft
Swift & Co.
4242
Mean Iron Comp.
Textron Inc.
Thiokol Chem.
32
Minnesota Mining
24976
Tide, Water Akn, Dil
REL
Mimion Development
ZA
Munnank Chusical Co.
Time Jo
Montgomery Ward
Tri-Con. Warrants
33'
Motorola Inc.
113
Twentieth Century For Film
៥
National Biscuit Co.
0112
Union Carbide ....
140
National Cash Neg.
01
Unlun Oil of Cal
49
National Dairy Prod. National Lead
5114
Union Pacife Raliway
Estimates in the trade of the much awaited first government acrenge report to be lasued to- morrow, are running as high as
Spot
July High
Low
Close
123
United Aircraft
5221
10 million acres.
Sept.
National Steel Corp.
$71
Unic Fruit
352
Dec.
New York Central
30-22
United Gas Corp.
35
Match
|
U.S. Toli
7211
May
1971
100
15
Corn No. 2 yellow
401
U.S. Line Co.
Spot
122-129
5412
July
001%
US Smelung
33
Scut.
0.8. Steel
1049%
Dee.
114
U.S. Slee. 7 1.C. P.F.
March
117
in
Warner Bros.
411
on American Airways
231
Waukesha Motors
44%
4011
Westinghouse Air Brake
Liverpool prices closed changed to
-
Moy
1832
Rye 10 English points
44
Westchery Electri
1143
lower ut
Penny J. C. C.
112)
Western Union Tel. Co
37
079 to 853 American polos mier the New
York
July Scil.
volume
Penn, Salt Co.
104
West Va. Pulp & Paper
471
futures market.
Oats
Philip Morris
Winn-Dixie Stres
421
July
634%
to
Pitney Bowes
Woolworth K. Wh
Procter & Gamble Co.
NEP
Zenith Hadi
122
Grey goods
Pittsburgh Plate Glass
031
-UPL
were quiet but prices continued strong.-UPI.
Des
001
Buybeans, No. 2, yellow
Болов
slide" Cun
2214-
manually.
Sept.
Nov.
21424-ti
600.21 171.21
Jan.
21495-16
simulators.
March
217%
A working model
Barley,
Spot
120×1050
New York flour
200 lb. rack...
13.400
UPI.
Profit-Taking
Chrysler
and American Motors were two of the stocks which climbed
higher Into
late ground as a result of the rally. Chrysler was up more than one at the close. Du Pont finished up around three thanks
In a late spurt, which helped the industrial average,
Today's volume was 3,840,000 shares,
Of a total 1,243 shares traded,
933 were higher and 487 lower.
American Exchange
was 1,100,000 shares,
Bonds volume amcunied
$5,500,000,
Dow Jones closing averages were:
30 Industrials
Tolls
10
as stacks
40 tunds
Canton~-
"Aircraft und kuler British Motor Corp. Ord-13 M.
Ford Motor Co.
Brewer.co
Distillers Co--22 d.
Building and Materiale
Anglated
Portland Censent-00
34 Pinchin Jotun Azuetates Ord-
23 2144.
Coal, Steel and Engineering
Babcock & Wilcox Ltd~A{{$.
Vickers Ltd.
b¥3= 4 t}•
Food and Tobacca
Imperial
aka.
Oxel-$10
Brush American Tobs, Co., Ltd-
Tobacco Co., Ltd-36
Miscellaneous Oxygen British Canadian Poclile Rly-4631%. Dunlop Rubber Co za Hongkong & China Ge 13. Imperial Chemical-35 7. Lyons Co-124.
tinilever Ltd-098 $150.
Paper
Bowalet Paper Corp Ord--82a 94.
Radio and
AFEOClated locketcar
Electrio Kuriens-420 SKE. Enguan Eleattle Co-439. General Electria-ala 30.
Comm. future price index
Abiti
Closing Prices
Pws, & Paper
Alden Ine. Aey.
Alpon
Steel Corp Chemicals
At Chaligers
Ain. Brake Shoe
American Airline Amarion Cyanhink! 10.
Am. Gas &
Iower
Atner & Fetric An Ikane Proxi
Ain. Mach. & Fúry. American Metal Am. Natural Cas American Smeiling Am. Sugar Ref
a Tei & Tu
Tob." Anaconda Copper Armco Sleel Armour
Cons, Mining
Baltimore & Ohla Dank of Montreal HoneЛcial Finance Bendix Aviation Corp. Benguet Cons... Bethlehem~61402
Baldwin-idma Flam
Boeing Airgine... Borden (The) Co. Burroughs Add Machine
British Amar, Oil
Calif, Parking Corp. Cana, BX, of. Comin
$0.
det Campbell Song it.
Case (J. I.) Co.
shipping Indo-China Steam Har. Co ord--ek.
P&O Sicam Navigation def ord --37% 140.
storo
Great Univerzal Stores "A"ht Marks & Spencer Co-323 3.
Lid - 11sd. Woolworth
Taxilios Cunts PL25-27 04. Courtauide Lid-30 0.
Dow
Anglo-American Corp of South Africa107 0
Cong Goldbekde of South Africa- TIK THA.
Con Line Corp. Ord-Gia 33.
De eers dom][(300.
Yrpe Biele Development & Invest-
men-d
Hongkong Tinta 101fd.
Petaling To-de
Itanda ki,
Southern "Kints Cone Lamäte
tem Cotp-6a 01.
Wert Driefontein
150 34.
Goldraining
West Rand Cons--249 2011⁄2d.
Dritie Dorneo Petroleum Synde- CAI-500.
**BRUK Petroleum Có.. Ela-bas ad.
Durma-83, B4,
toys Dutch Petroleum~~~21.
TULOY.
Shell Transport Trading-30.
Canadian
Lat. ITActor
Celanene Corp
C.LT Financial Corp. Chase Banhat. Bank Chrysler Mutors Clucit
Callbodyve Me
Colombian Carbon
Commercial Crestit Consolidated Edison Continental Ou of Del. Crane Co.
Crown Zellorbact Cub Amer, Eurer
Diamond Alkall
Diamond Gard Dominion Store Dougino Aircraft Dow Chemicals
Dupont de Nattourn Eta Kodak
Pas National Goa Family Finmare Corp. Tirestone Tyre & Rubber
First Nat. City Bark
Fund Motor
Georgia Panido
General Dynamic
General Electrio
150.75
43
کرتا ہے کہ
Naranda Mines Lith
North Auner, Aviation Northwest Airlines (Com
Olin Mathir son
Otis Elevatore
Own-111inuts Glans
Oxford Paper Co.
Pacific Gas & ENC.
Paramant Pictures
Parke Davis Co.
44
591
Yesterday's Closing
U.S. Gypsuni
U.S. Rubber
#
The government weekly wea- ther report was regarded highly favourable but market ources said it played very little part in today's" market.
COMMODITY PRICES
SUCAR
NEW YORK.
COTTON
Closing prices Closing prices all in cents per lb.
per ib.:
Contract No. 4 (world) Sept: 7 Oct: 3.70: Jan: 8.95; March 2.03 May: 2.04 July: 2.00: Sept: 3.02; Det: 3:03; Spot-il.o.b. Cubu) : 7,76.
Tulst Suic; 459 contracta,
Open interest: 8.555 contracts.
Contrast No. 0 (domestic)
Sept: 6-0; Nov: 5.50: March: 3. KISHT—IC:1,1: 14.5. ex-datiɣli 9.00.
Total Salen: 25 contracts.
Chigh inlere.t: 3217 contracts.- UPI.
March
May
July
SINGAPORE
33.78
33.70
35.45
33.25
20-9014
Closing prices all in Straits cents per ib. fo.b. Malayan ports: NEW YORK
cents No. 1 July all in
Aug No. July nuni.; Oct: 37.2 No. July Spot: 33.0
32.02; May:No. 4 July ..... Dec: 31.33; Marel:
ki: July: 32.41; Oct: 36.44; Dee 30.41: July: 34.80.
Spot, rubber unbaled Blanket crepa
No. I pale crepe
DOLLARISA
0411-009%
24-0134
DB-0014
10-31
100-100
NEW ORLEANS
LONDON Closing prices all in, cents
Closing prices all in pence per per lb.
Spot: 33.30, Oct: 32.14: Dee: 12.32.
32.79; July: No. 1 nm spot ........... March: 32.0: May: 32.42: Oct: 30.44; Dee: 90.41; July: Settlement house teem
Oct./Dec. 30.04.
- LIVERPOOL. Closing prices nil In pence
Jar/March.
2314-201
Apri/June
July/Aug
per bi
Oct/Dec.
American Contract
General markets, cas, basa,
July/Aug
23.45
21.23
July
MUL
Sept.
21.13 Estate crepe
May/June
21.40
This July
2140
Mixed Contract
1
Thick July
AMSTERDAME
July/Aug.
METALS
Oct/Nov. Dcc./Jan. March/April
| JulysAug.
NEW YORK Closing prices, all per lb.:
Dec/Jan. March/April
In cents sy/Jung July/Aug.
July
Lead July
11.400
BAO PAULO
Sept.
11.20
All unchanged.
Zine
10.10
Sept.
11.3390
534
Copper July
27.056
201
Rent.
Th July
100,000
021
Sep!.
103.00
مران اگر
At their disposal, in addition to the engines and demonstra- tion workshops, they have a iarge selection of training alde developed at the School. These 1922- include:
which
Exchange Rates
Engine models
on
West German Credit
every part is outfitted with To Greece For Ships
n push button.
When the
button is pressed, the name
of the engine
pari flashesHE first tangible result THE the agreement sign-
ONTO to a panel, as on nid
learning the nomeneinture.
new Jeled in Bonn last Novembor for the supply of credits by
and to iiiu: Government the dividual companies in Greece moving parts of this "super- has boon the delivery of a
Plastic operabie transparen- West Germany to the Greek
cies. When the picture is thrown on a screen by an overhead
projector,
be operated
naw motor ship, the Saronis, on the heavily Electronic instrument panel for service
overcrowded pasenger lines the of the from the Piraous to high energy ignition system. Saronic islands. Cutaway
models of the en-
The Baronis is one of a pair gine components, diagrams. of such vessels to be supplied Blm strips and movies.
by Germany on credit to the Two senior staff members Greek cobstal shipping com- maintain continuous liaison with pany concerned. Its companion the technicians working on new ship will be ready for delivery
Gcr Rolls-Royce projects, This en- in September from the sures that the material used in man shipyard.
the various courses remains up to date.
19
Business was done in the lndal Utfal exchango market this
An informal examination morning at the following rates:
1.74 U.S. döllər (per 91)
19.07
given at the end of sith course. Sterling notes (par
13.5M Over the years, the average Australan noter (per 21).
been 75 per cent Indoaçalan suplab (per 100)
mark has Clam Beals (per: 100)
high above a passing grade. Singapore (Sizalia) ....
4.10 20.00
Lockheed
Total cost of the two vessels The credit la DM1.4 million. has been guaranteed for Ave years by the Greek Economic Development Loan Organisation, at a specially reduced rate of commission.
Jet Stars Together
27.90-23.00
Average price
in U.S. at 14
designated spat markets
available. Total bales.-UPI.
gales 8,118
RUBBER
NEW YORK
Rex rubber futures prices, all in cents per 3.
All unchanged---UPI.
FOREIGN EXCHANGE
NEW YORK Closing rates; Canada*** England official 30-chy 90-day's
pikere unchinggil
LONDON Closing rates; New York.
Montreal
closing, DTURNA
Paris Vienna
Zuricha
10 1/2 231 1/4
15/zPrototypes of the aircraft Thoy have kemn stm separs
#31 5/16-281 5/10 1,01 7/5-2.08 10.00 /-10.00 3/8 143:32 -1/3-140,57372 17.00 1/2-13.00 3. 32.64-72.07
13.11 5/5-59.19 7/0 UTL
that in 1963 will usher'ta! the age of private execu- tivo jet travel, thao 609- mile-per-hour Jef Stars are cruising smoothly and quiotly over North Coor- gip's mountains and lakes.
ataly throughout the United States and Canada
since 1957 when they four engine production were first developed for
and military
Corporate uso, but this is the first they have been time
modela aro belpa manu- factured at Lockheed Air- craft's" | Georgia” Division .. at Mariotto.
LONDON Closing prices, all in sterlung
147
per long ton.
T
451
541x
in apot
132
3-month
Copper spot
LAKE THE ali
Gen. Tyre & Rubber
Getty Ou
Zino fat hait
General puds
General Motors
Den. Fub. Uta,
audioh D
3-month
buyers Seller
70%
1444
July
Blept.
Now,
Amelerdoret
photographed together in Flights
C