Page
THE CHINA MAIL, TUESDAY, AUGUST 25, 1959.
Indonesia's Drastic Move
STOCK
Street On
Decline From
London
Business Halt
Wall HONGKONG
Market
As Currency
Is Devalued
Mixed
London, Aug. 24.
Industrials provided most of market the team for a
1
that closed mixed. Sparked by the first upturn in martine-tool orders is three i years most tradustrial stocks to-!
A proved,
feature was nearly seven shillings rise in Harrods
the victory 011 Fraser in the fight for control.
Oil
tri Rubber were BFAL
Djakarta, Aug. 24.
Business suddenly came to a virtual halt in Indonesia today two hours after the cabinet announced the devaluation of 500 and 1,000 rupiah notes to one- tenth of their face value.
EXCHANGE Selling Pressure
+ Our Own Correspóni
Kang
Business June on the Hong- Stock Exclunge this morning muunted to approxi- spinta- tions and the morning's transac- 1jons:
mately $885,000. Noon
Blares
flauk INSURANCES
Lombard. SHIPPING Wheelock
Buyers Sellers
1*X
Ju 871
6.40
107
HANKS Shope, rillees, and restaurants were called out tonight to con-
trol thousands of people locking s closed in an atonephere of un-
the cabinet's telegraph efices throughout certainly after ut
shock incision bronkast to the Dakaria.
Queues formed outside the
DOCKS, ETC. tsaston over Radio Indonesia this
tifternetin
telegraph offers to send embles Whe Mr
Dock Malal, the Minister of to faultle arti businesses after Information and robinet spoke- | the devaluation decision.
Lieutenant-General Abdul mk, ako said the Government
tended to freeze 90 per cent Hari Nasution, Army Chlef of
over 25,000 star. tonight orderett ed vine arvot.
upiah tart as the monty as a plomat commanders ไว 1m.
the people in their areas of the Government decree.-Reuter.
Gold stocks alert while top- pere ends on press reports of i Ithodeslan motionalisation move, Gill-gel smearities incited support and Brified lower,
Greek bonds were frm in a market. Dollar teks woar mixel. UNI.
Closing Prices
Cedera andis
Trport 32H-
S
Consolu 201 Concol 2
E 14
# C++
F
Jef
Conversion 1. 31...
!.
Funding: Jerkit 3... 2010 —
a 2014 Forcing Back
וניהול
19
C-1/14
Savings .. CA
1953 07
$175 EM
Hanks
Major Decision
Another major deelston was To abolish llonesia', eerlitente for dancing foreign imprts and go
M
rhodox real.
Bac back to
The triple decision aimed at
chu king the
evationing
Krav
deterioration of the republic's
A COROBY
rooked businesmen troughout the rubber, tin ani
it-rich archipelago,
The
Livere s Governmeal's
the cabinet, which bered by President Sukaran head. Protufer, sakes effect frum non
Bairlaws Bank "A" Lid und 524 | Java time tomorrow 1293 GMT
August 241.
Chartered Bank All- Honeking
Bd
5
insaner
་་
which
Ton Insurance Canton
Aircraft and Motors
13) Motor t'uap
Fond Motor 443
Herwerina
Dalilee 42
-17.
M
Provident
13.40
و : 1
از الا الله
11.0
SOU
13.40
[d]
119
2)
1:140
....
£3.40
all re- inform
Taakero LAND. MIN.
Fatal 2473
107
FUR .
$3.1
22147 5.
400...
RUBBER
MARKET REVIEW
Fire rarion of traders was
refuse tu SE:
tules Wotak
devaited.
for There was gend interest The thousands of Uran ekse
Jawor sheets, particularly to the shops, une jolued disgustánya 16
3472" Pulve Jow
decisions Uned States. Factories th affect them.
small buyers and the morning Normally Cevent 200
crowded shopping session closes quiet. areas of this capital WI
arusiding and Materials Acetaled Portland
Plan Johnson. A morates. Ord
Coal, Steel and Englererine
Wilcox Ltd 2 PM
Vichris d 3 4.
Food and Tobacco British American Tol Cr
1
Ingrand Tobracea C1tz! 18.
MareBanrous
Boar douar Maden Lal as $11. Magen It Cher die
Caman Paese, ky
Infop libber, the 154 15 Hawkou! & Choma filan Tas
Topekat Chepstras 4 7. L&66-76, 30
Torlever 1.1:1 1 151.
Howaty Paper Cup Out te cd
Badia and Virtelcat
Auchters Fleetcanal 47
eritrel & Murtal 51 60 Tulish Bistre 4
d
45 213.
...
f'o
Shipp
stef declama 95266 "Nav.
Struts Navigation def ord
stures
Hey XD 155 1.05 RUNNER
Antale. 3471, 3.1251841.
3.13
Tru .. 20 gr 500 20.60
Trin
A Tawals
Starved
2
UTILITIES
112 114
4 Light.
17
111 50
17.00
Electric
{
29,40
29 30
Z
MAR 20
30.
الالة
A ARGE
28.40
4,50
14 ג22
New York, Aug. 24.
The stock market sank today. from its own
weight,
Family Finance Corp
Firestone Tyrebber
First Nat. City Bank
Industrial cases of ore to two El Par Natural Can points or more dolted the main! is 1. Volume was light - dienting the decline wemmed mare from neglect than frum selling pressure.
Fach major frou had dowiske lenders Litton in the elteltonier, U.S. Steel and Janes
& Laughin in the steels,
그는
Ford Motor Co. of Cnna.
130
1820
Georgia felfle
General Dynamites
General Electrie
General Fonda
Gemici Motors
en. Pul, 17201
Gon, Tyre & Rubber
Goodrich 19. F.) Co.
Chrysler in the motor, Allled Godean Alterat
In the chemicals, Martin in the eleraft, Nock Ielend and Norfolk & Western In the rails, and Goldrene in the tyres.
The brokers said the market will need a
new mufus
Lossibly the end of the sleek
strike to vip out of the doldrums,
Tedny's volume was 1,800,000 shares.
Of a lotal 1,100 shares traded, 339 were higher and 500 lower. Amerleon Exchange volume was 070,000 shares.
Bonds volume amounted $4,500,000.
Closing Prices
Algoms Steel Corp.
1964. Aningo Steel
Grupiinn
Gulf Oil
Hammond Organ
Heyden Newport Comp. nestake Mining Co. Iriah Power
| ingetruli-Stand
Intend Steel Co.
Interchierical Corp.
at Muners Machines
Int'l Harvester
Intermotional Nickri
Kober Industry
Kimberley Chirk
Lignett Meyers To Co.
Loews Incorp.
•
241
120
Pago
RANSPORTATION
Britain's Tanker Fleet In Race
For Leadership
THE United Kingdom was in fourth place in the race for the world tanker teadership with a fleet consisting of 556 tankers totalling 8,717,400 deadweight tons, according to the Sun Oil Com- pany's latest series of annual tanker studies published here..
Taking into necount the 175 versels
comprising
8,151,300
under construction and
dedined to ly the British Bag REDUCTION OF
the Sun report predicted that
Liberia would FARES DEMAND
frut
place
with Morday retaining the pre
Washington, Aug. 24,
By 1963 the United States TNITED States and Com-
tanker Best might be in fourth
UNIT
monwealth officiali
19 place, a sharp contrast with the described as speculation ro- manber ene position held for ports in today's Aviation
לן
JES following the secotic
World War, even though U. S. Dally that Commonwealth ewne: costrolled more than airlines will jointly demand 01.0 third of the worldo roduction of passenger capacity. The report fares at the September meet- Junker
che of the probability or aing of the International Air sharp decline in the ranks ol
Association In
the innker feet that flew the Transport
Honolulu,
kenly
They said the British Over- Airways Corporcion Is likely to demand a reduction of showed fares at the meeting but it la not known here that his demand will be supporled by the, Austra Hun Qantas Airline, Air-India Trans Conada International, Airways and British European Airways.
42419.
Jona
102
Internations! Paper
(35)
|
Jatt Tej & TH
Juho Maville Co.
3
The would like
Over Arcond
16x
place by 1963.
Kammas C. Power & Light
Kennecott Copper
102
497
continue to foll
6
sent third position.
Lily Tulip
30%
to
Lochberd Atreraft
Lone Star Cement Co.
RIPA
Lowensteiri & Sons,
McDonelt J. Ray
932
MeDuell Aftersh
NO...
Moabi Iron Corp.
154+
3.1.
Abilil) Dwy,
Paper
37%
Monsanto Chemical Gn.
517
28.20 28.40
30,30
38
Montgomery Ward
4
AN
Singapore, Aug. 21. Despite lower oversens ad-
vices the market opened STURES, ETC higher with the Loatian situation
Home Watau causing
Bee, Craw
2X COM
28,40
Allied
20
Assed Amicals
1:0
Mutoreda Jne.
1004
1.
National Bac
Co
SEAS
INDUSTRIALS COLOR:
Als Chalmers
203.
National Cash Reg. "A
DOS
31 30
Ain. Brake Bhon
WN
American Cable & Radio
National Dalvy Prix,
Paly
11.17.0 ...
17.30
Corp.
10
National Lea
127
178
American Cyanarts Co.
National Steel Corn
#42%
1750
Amer & Ports. Power
12
New York Central
$ 10
A. Gas & Electric
Noranda Miner Lut
503
U. S. Bag.
21 2130
10... 21.00
Am. Home Prod
tertolk & Western Ry.
concern.
LO
2120
AM Mneh, & Fdry
9115
North Ainer. Aviation
303.
BRIT
21.10
American Afrtal
Northwest Airlines (Com.)
SMP
20
Aim. Natural Gas
02
Oli
LOTIONS Text
American Smelting
Olta
30
1.20
1000
416
Ain. Sugar Hel,
3012
Owen-flinois
Glas
0.23
American Trl & Tel
TE
Oxford Paper Co.
H
THE SURVEY
The tho
survey
also
2000
6,20
Ameries Til.
Pacifle Gas & Fitre.
Nanyang 107, 10.70
1900..
10,50
Anaconda Copper
Pan Amerien Always
24
7514
Paramount Pictures
40%
Armour
Park Davis Co
47
Vitr
MEUFLLANEOUS INVESTMENTS
Baldwin-Lina-Ham,
131
Penny J. C. Cu.
13.10
BaNimore $ 131324
45!
Penn Bait Co
Bank of Montreal
Pup MOTIS
A
Buneliela Fine
2312
itney Bowes
4.93
Belix Aviation Corp.
0042
Procter & Gamble Co.
Benguet Con...
1
Publicker industries
11
Bethlehem Sterl
37
PU 01
Boeing Airplane
3144
Radio Corporation
mar
Radio Unrys. Prel.
2014
Raylbert
Republle Steel
Heyet Nork of Crasada
13
07
Start, Roebuck & Cn.
32
BAS
Shell Oil Co.
A
Sateway Stores
31%
2016
Soin Res. Pover
2012
Acheniny Inc.
102
Scott Paper
Dix
542
Smith, Cline, & French
Bank
Monarty Mohit "all
443
Chrysler Motors
6435 Star Alecraft
Clucit Pealesty
481
Colgate-Palmolive Cu.
38
Cathan Carban Co.
ABL
South Puerto Rien Sugar Southem Co. (Ther Suturn National Dat
Convahind Edison Cilincutal Oil of Del. Chwn Zelinrtinek
37
1934 | Sanoin etway
Standard Brands
Com.)
737
MEX
feel
37
Catban Anter. Sugar
2145
Stundarg Oil of 19th,
numbered
Standard On NJ.
58
Sterp Rock
Slane & Webster
6312
Stun baker-l'ackate Corp.
Doughs Aircraft
44%
Sumlude Man
New Chemicals
127
Swill & Co.
12.5%
Dupont de Nemours
267
Texas
Bustern Airline
5015
Texting" Inc.
29.25
Loudon Express Servies.
Eastman Kodak
Dal
linked (here.
Tide Water An. Ol
Time Inc.........
Tri-Con. Whitts
The afternoon was stearly with of thre
almost inquiry for September 1 Rss an one hour more interest being shown in Sukarno's further forwarts.
115
311
¦ million persons
empletely deserted after President revealed Pabars Hanstein polley.
Radio Indonesia Interrupted :t sebosluded programmes to
bring the cabinet's decisions to the nation.
In New York, the rex rubber futures today eload 35 points highre 201 over to 15 points dates of 89 condreets.
Some late Liquidation eased
the frush futres near
todoy Arah, mortly wiping out earlier gains Chinese, Indonesian, turkian, Beitis and American finish at primary mar aders, whee haklings formkets. Offerings were sente l
the balk
republic's manufacturer interest reserver, I the
The pot price for No. 1 Iss econotule foundation, heard Mr Maladi announces the devalia- jwas quoted at 393 cents.
TH
In union, the rubber market
7/16 to 35% penéë per pound.— UTL
tion, freealing of bank accounts barely steady with mpót up
Abolition of the export vartiliende system.
tirt
Not Available
Exchange Rates
Mr Maladi, peaking at alieta- tion speed, gave the outlines of The new decisions, but completts
tuliial Stones "A" 14, detail, of the text of the Cabinet deerers were not onedittely available.
Joe Coversal
Marks&Spencer Ltd 59% 101 Worth F. W. & Cu-Six 415.
4'outs 2 & 3 Lid - 394.
Miner
end
thi
In the Buster vy dut
market ng rates; thing t U.S. dollars per $1)........ 1.722 The Cabfurt dreree wipes out Sterling notes (or £li....
Australian noles Ger ED Multi-million rupiah fortunes, fresian rupiah tper 19 apreolaters and black-market-Stam texts per ion An-American Corps of Stuth vers, who accumulated big - Singure (Strait.
Aller 1 19
22 10
Cup Zine Cor fid-93. 34. 15 Beer de 173: Ete Sud põhijnisil & Invest- Bet 1ts 61.
Stengtang Ton 20
Rand 1 Pad
ing of the liation.
The Government is devaluing only the 500 and 1,800 rupia a note, the highest denominations in the public which probably fom the basis of most under mattress" fortunes which drop 90
Seather Bint tm, 140 255 3.1 cent tomorrgy,
Talon Corp 74. 20
Wisd
11.7% if
Goldmeng-
West Rant Cat
OR
Closed Abruptly
The Djakarta markels closer alittig early this afternoon
broadcast of
trit Barnes Petroleums Syadfer the Stoch trotum Co., tad 57 severs. No questations
rat ST50
17.
1 Butel Petrolessin --210.
641
Neuter.
Cordable for rubber,
2 A
Yesterday's Closing
1. A
M. E. Inves XD..... £1.70
CITY LIGH
Borden (The) Co.
Kurroupas Add_Machine
British Amer. Dil Calit. Packing Chirp. Cina. Uk, at Comni Campbell Soup Co. Cantan Paclite R. Case (J. 1) Co. Cal Tractor
Celanese Cur
CLT. Fmonefal Corp,
Choxe Mania.
Alkoti
สายuk Gard
Jon Stores
COMMODITY PRICES
the
SUGAR
were coffe per and other axpari profuce ils in Djakaria.
Arnied poller and troop units
Consumer Spending
In The U.S. Will
A New High
Reach A New
New York, Aug. 21.
Consumer spending in the US, this year will total a record $325 billion of which $125 billion will represent spending on "ordinary" items from food to shoeshines, Fortune Magazine esti- mated today.
This total consumer outlay will equal the nation's total qui... put of all goods and services of & decade ago, the Magazine snici. In the past year, sales of goods about $11 bilon $5 billion in cars and about $2 billion each
NEW YORK
Closing prices all in cents per Jh.:
Contract No. 4 (world)
Sept: 2.81 Cel: 2.42; Jan: 23: Mar 201: May 239: July: 3 Sept: 3.03: O 3.03; Spal -11.0.b. Cuba)! 2.04.
Total Sales: 427 contracts
Open interest: 7,950 contracts.
Contract No. G (domestic)
Sept: : Nov: 5.40: Eput—(C.14%) N. x-duly): 505.
Tutal Sates: Ave contracts.
Un interval: 1,270 contracts.
METALS
Oct,
NEW YORK
outlays Closing prices, "These enormous : augur well for the future.... per lb.: because they tend to go on intend tak lles
Sept. and bad and are
Dol. highly resilient ecunomle
to
Zine recession, the publication said. | Bepl.
Fortune broke down this year's projected spending in this Copper SUBL follows: Food, $70 clothes $20 billion; rig During the second quarter, billion,
report noted, spending alcoholle beverages $9,600,000,- swelled at an annual rate of $7000; tobarce producte $6,800,- billion from the first quarter, or 000,000, and $10 billion in nearly double the average gain miscellaneous items. during the previous year.
in house food, clothing and miscellaneous item.
the
NECESSITIES
But of particular significance. the Magazine added, is The predicted sharp rise in spend. ing for the basic necessitles of life. By the next decade this area will be! spending in Increased $80 blüion to $175 billion, it forecast,
markot us
Oct.
pt.
Oct.
LONDON
ali in cents
12.25 17.32
COTTON
NEW YORK
Closing prices all in cents per
Spot: 37.10 Oct; 10; bee: 22.20;
Ib.
32.65, July: March: 32.; May: 37.38 Oct: 30.40: Bee: 30.41.
Ib.
NEW ORLEANS
Closing prices all in cents per
31.35; Oct: 32.40; Dec: 33.20: MS: 12,111 MAN 32. July 31.30; Oct: 39.30, Dee: 30.37.
SAO PAULO
All unquoted
Closin per klo).
entiveiro,
price alt in Average price in .S. al 14 de- | elgnated, spot markets: 31.02 cents.
Total sales: 23.012 balen.
LIVERPOOL
Closing prices
Ib.:
SINGAPORE
107
Mb
Sinclair Ou
Standart tot 4.
Dušan Puelfie Bathway
Twentieth Century Fox Film
Hon Carbine...
Uulted Alterati
thed Frutt.................
alted Gun Carga
TES. GypsuEL
1.5. Glee Cu
U.S. Rubber
.S. Smelt
TS. Steel
US Steel 7 PX
ܬ݂ܳܙܕ
ים
The world tanker feel at the end of last year numbered 3.146 ships totalling 56,040,760 deadweight fotra.
At the end of 1958, 003 tankers or a total of about 28,500,000 deadweight long were under construction or on order from shipyards throughout the world.
Aviation Daily claimed that if the demand for lower fares is not granted then these airlines would break away from IATA and establish their own organi- called ration which might be
The world's tanker capa- | Commonwealth Airlines. eity and risen 70 per cent since
A United States cfficial sold 1053.
one prominent U.S. airline has a reduction in long favourei fares which drastic wants.-UPI.
During 1059 deliveries of new tankers to the world fleet were expected to reach a record high.
The report showed that at the ond of 1958 the active tankship that flew the U.S. flag
Bran
would be more
anything
Bord
474 ships, totalling SAS-THAI
28,309,200 dradweight tons.
"
An
additional 473 vessels of 10,865,-
300
U.S.
tons were controlled by AIRWAYS PACT
owners
registered under
WETL
but foreign "flugs
of convenience" chiefly Liberia with 180 US. owned Vessels
and Panama with 131.
LOCKING UP THE
Stockholm, Aug. 24. CO-OPERATION agree-
ment was signed today Jin Bangkok between the Thailand National Airlinos and the Scandinavian Air Systom (SAS) giving birth to a new airline to be known as Thai International Airways. The new line will provida MULTI-ANGLED international air transport A fair load specially, from Bangkok.
330
26
34
107
ST. LAWRENCE
313%
1020%
Closing prices all in Straits
Wainer Br
cents
per 1. Lob.
Malayan
Waukesha Moters
ports.:
No. 1 Sept.
115-120
123-198
No, Sept
1cu!-110
Westinghonne Air Brake Westinghouse Electric Western Union Tel. Cu. West Va. Pulp & Paper Wirn-Dixie Storra Woolworth AK. W)
4905
No. 3
1009-109
Zenith Radjö
No. 4
102-107
Spel rubber unbated
Blanke: csepe
3-107
No.: CTODE
119-520
LONDON
Closing prices all in pence per l
No. He spot
Oel./Dec.
Buttlement house
term:
2%-3215 321-
201
Jan./March
Apri/June
Generd markets, eit besta, ports: Sept. Oct. Estate crepe thra Sept.
Uuck Sept
AMSTERDAM
Closing prices all in guilders per kilogramı, cif
all in pence
American Contract
available.-Uri.
1.79
31.74
21.79
21.35
21.12
Det./nv.
March/Apri May/June July/Aug. Oct/Nov
11.31 Oct./Nay,
Mixed Contract
Doc./Jan March/April 30.43 May/June 30.45 Aug.
Ocf./e
Closing prices, all in sterling Other highlights of the study per long ton. Included the following:
• America's tuto is switch- | rin |ing from beer to quor. From Fivot
3-north 3953 to 1958 consumption of
Cooper hard liquor rose from 194 mil-
Spot lion gallons to 215' million jol- 3-month long while boer constanption re- Lead and halt
Aux. mainod ni 2,600,000,000 gallone.
Nov. Cigarette salep this year will zine 2nd half
the increase four per cent over
Nov. 438 billion vuld last year.—UPI.
Aug.
Buyers Seitero
70214
2039
103 703
23116
-UPL
REBBER
886699
NEW YORK
Itex rubber futures closing prices, all in cents per lb.:
Sept.
B
---UFI.
Marth May July Dept.
July. un-
FOREIGN
| EXCHANGE
NEW YORK Closing rates:
England
dificio
20-days
to-day
Austrolla
New Zealand
South Africa
LONDON
New York Cotton Market
1954
New York, Aug. 24. Colton futures
opened casler and held within
narrow range all day to- day. The pace of trading was dull once again.
designed for the ships likely
Under the agreement,
SAS
to use the St Lawrence sod- will supply Thai Airways In- way, is being produced by a fentional with a number of North East engineering com- DC-6 and DC-6 B aircraft, Pur- thermore SAS will furnish tech- pany,
ical and administrative arsis- This type of universal fairlead tance fer m undetermined ennising rope to lie outwards length of time. from it within a wide angular range horizontally, vertlealty or obliquely.
In addition it allows tor, con- sidcrable deflection of mooring ropes when a ship is being paced, through deep locks.
There
horizontal are (wo rollers and two vertical rollers --the horizontal ones being more. closely spaced than the vertical.
Scandinavian Air System crews and ground personnel will be posted in Bangkok. SAS
150 provide will
trainloz facilities in view of using Thai personnel both in Bangkok and other basen of the World 'ser- vice.-AFF.
This provides a wide rectangular BURMA AIRWAYS opening for the passage, of mooring rope and its eye.
13
A ship in a deep locks will TO CLOSE DOWN
ally ride more below than above the level of the bollards
to which the moorings are at-
Rangoon, Aug, 24. At the finish the list ruletzched and so that the ropes will THE Burmese national air two to five points lower after not normatis extend, obliquely lino, Burma Airways, opening four to five points forward or aft of the fairlead at lower this moming. New Ora large downward angle, the pressed by financial difficul- leans closed one 15 tour polits horizontal roliers are placed to-Hes today decided to sup- ward, the lower end of the pross all Its international vertical rollers. Upper ends of
Flower,
The Census Bureau reported the vertical rollers are extended services. ginnings through August '13 at above the upper surface of the The Rangoon-Hongkong and 472,200 running bales against borizontal rollers to guide a rope Rangoon-Bangkokt services have
angle, loye upward 580,748 Just
Trade at u year.
been cancelled with immediate
Calcutta effect. Tho
servico zources Blemez slow clonings on obliquely, forward or aft. The an excess of rains recently In fairlead is of steel construction will cease after next Thursday's end the bearings are bronzed the central and caster belt,
bushed and lubricated by grease flight,
10
2.nov
*1.24%
.70%
A leading mill executive nipples.
a
the administration
Burma Airways is now trying Vickers Vis- used on external
threatened to go to Congress of The fairlead can be filted to sell its three possibly the supreme court with ease by cutting a rectangu count 7078
refuses to ar opening in the bulwark. The services, take action to curb imports. Tairlead it in this and is welded Internal air services will bo
anilo piles. Japanese sources reporte
maintained by Burma Airways thd to the toxille strike there,
Alternatively, in way of although these too have been Pull defluit,Sattr stanchions, It may be welded to showing
envolling coating on deck. (Taylor Palla- und 17ter and Co. Dumaton-on-Tyne, blamed for the slump in infetual
County Durham, England.)
Others unchanged.
40,15- 37.16
+6.30
20.00
Paris
Clesint rates: New York Montreal, Frankfur
Mtan Vierina
2. 15/18-1.50
16/18
*
Dally experts tolalled 10,035 unles
257-367
13.75-14.731 13.2013. 174236-1743
72.65-72,43
-UPI.
Liverpool inished nine to Engilats points higher.-UPI.
road
zervices.—AFP.
..wero