Page
THE CHINA MAIL, TUESDAY, OCTOBER 20, 1959.
STRONG LONDON MARKET
London British Stocks Closes Commanding
Firm A New Respect
London, Oct. 19.
Sincks held on good volume
London, Oct. 19.
today in the face of The London Stock Exchange, still acts as profit-taking.
if a spell has been broken. As one pro- bably has, the market has to shift to ä new plane aligned to a changed climate.
Highlighting the session WHA continued strength in Elt-
edges which moved up 05 much as 11/18.
Industrials too, showed general gains and closing prices id most cases were the best of the day. Steels, engineering shares,
electrical equipments, kokorom, breweries, newspapers, textiles and stores all showed good goins. Oils were in demand.
Coppers and other base metals
Were firm,
Greeks issues held frm it a quiet foreign bond market,
Dollar stocks Improved,
The London Financials com- mon stock index rose to an all- time high.
Bank und Insurance shares were generally firm.
Gold shares were selectively bought but it was Anance issues which oftrasted mest interest. - Rubbers displayed marked franess.-UPI.
Closing Prices
British
C9-3/8
Glitedged Bonda
Tranport 3, 187/88
Convite - £$14. Consoli 45-£74-15/16. Conversion
COO
£943ing
Funding Stock
1960
Loan 35. 1930/60
347, 1009/2004
Savings 26, 185/65-£PING. BayDiga 35, 1900/70-83-3/10.
Funding Lean 407.1860/60- CA1-1/10
Savings 12, 1989/75–£779.
B
Barclay's Bank "A" Lid ord—59s, Chartered Bank-60% 94. Hongkong-£371..
Inaŭravee
+
Union Insurance Canton-£5%%.
Aircraft and Motors
Motor Corp. Ord-211
10.
Ford Motor Co-94,
Breweries
Dizilers Co-32 3d
Ruiding and Materials
Asociated Portland Conent-744
John cu Associates Ord 26 154
Coal, Steel & Engineering Babcock Vickers Lox Lid-1s 150.
fd.
Food and Tubacco Birlish American Tub. Co., Ltd- 62 711d,
Imperial Tobzeco Co, Ltd-
Miscellaneous
Boardman Marden Lids 31. Iiritlet Oxygen Lid. Ord-754 d. Canadian helfie My-AB}\___ Dunlop Rubber Co--žis &d.
mgkong & China Gos-131. Imperial Chemical-541 150. Lyutin & Co-na dd.
Unilever Ltd—1283,
Sweden's
Exports
Improve
New Prospect
New York New York
Cotton Market
New York, Oct. 19. Collon futures today turn- ed irregularly lower after:
firm stari, ·back. pedaling under renlising by local traders after a four day rise In the hearby deliveries.
reports
DHC
The
in
Stocks Move Lower
Under Pressure
groups
ཟ བྷ སྨད ་ ༔
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
New York, Oct. 19. . Stocks continued under pressure today with prices
moving lower. In Moderately active trading. After opening gains up to 25 Hectic advtners attract profi-
The decline was attributed to taking. but the underlying de-cents a bale, the matcet settled
to Anish disappointment In Wall Street bock by easy steps mind is still strong,
over the collapse of last-ditch with decithes up to 60 cents a
steel negotiations over the week Some of is from abroad, bale, The final range was
end. President Eisenhower's New York and Continental 10
politis lower.
fact-anding board will report hours have circulated, market opened up two to seven to the White House in the fina memorandum en the attractions points. New Oricans also riep become the 80-day "cooling of British equities after the closed out one to 12 points. o" provision of the Tart- election,
Harley can be invoked, Reports of a slow-down
Most of the major textile afler the demand for
U.S. were kit in the sell-off. weeks
of netivity, and a rise Steel was of around three In prices to the best levels of points, Carpatiter and YounUDI- to encourage town four or better, Bethlehem A New York Dhe, probably the year, helped written by a conomist of realising along with some in- tost more than obe. Steals were international
among the leading groups last repute, thinks crease in hedge offerings. trat the new prospect of a long
Indicated week when It looked sa though Memphis Bolitical stability that while there were, numerous the steel strike would be settled Flod" of
Tafi-Harley Injunc under a pro-bustness Goyen- inquiries last week for forward; without a ment should bilract new home shipment spot cotton, the prin-on
Industries was off Lilton and fortigs interest to the cipal buying was for promot
The around three in the electronies, Londen, marich, which is still and November shipment.
below relativety
Continental light "spot" situation that has Westinghouse nore than a point. more than one and existed for the
last several IBM fell bourses. during the spring
weeks has cased to some degree, General Electrie lost a fraction -have been completely It says British business pros- the report added.
Rails were easy, ne were alr- and metals. American The Liverpool market today! crofts upset, the Stockholm busi- peets look decidedly beller than
Products featured an ness weekly Affarsvarlden in recent years and with scope closed five to 20 Engil points Home
otherwise mixed drug section for a new expansionary cycle. bigher but 644 to 731 American writes in its latest issue..
It added that British shares points under New York futures. with a gain more than a point. An analysis of the country's may be entitled to a higher-UPI. foreign trade over two-month rating than Continental periods shows that most of the because British company re- ports are easier to elucidate. improvement over last year
In registered WIS
All this is a novelty. January- February
March-April and in
The and, although on a minor scale, ulso in July-August. Exports showed the largest increase.
Stockholm, Oct. 19. offeinl forecasts for The
of the
developmient Sweden's foreign trade In 1959 both the one submitted with the Na- fional Budget in January and the revised forecast later
10.6 per cent, over last year la March-April, fell back to the 1938 level in May-June and ex- ceeded the 1958 gure by 10 per |cent in July-August,
DECLINE
Obes
Cabinet changes have bean well taken, As implying that the Conservatives intend to show their liberal attractive side.
and more
Attractiveness
London's superior atractive- ness has been relatively bearish for some overwras slock ex- only changes but Wall Street may
be looking-botter.
As regards Imports, | Jamary-February this year shows a more noticeable decline 1958, whereas compared with | the,
have following months
increase gradul withessed o over the 1958 figures. Over the entire eight-month period ex- up 7.2 per cent in perts are value
last year, while imports show a drop of 2.4 per cerit.
The
Paper
*
Radio and Electrical
Associated Electrical-
Bowater Paper Corp Ord-G4s 3d.
q, Electrical & Musicals 1d.
d.
་
Englia Electric Co-47 General Electtle 475 8d.
Shipping Indo-China Steam Nay. Co. dicf ord-30s. Bd.
P&O Steam Navigation det ord
^ 30.
Stores Great Universal Stores "A"'—-50B Marks & Spencer Ltd--009_454, Woolworth P. W. & Combis ad.
Textiles
Coats JP Ltd-33s 3d.
Anglo-American Corp of
Courtaulds Ltd-490 80.
Africa-1985 l.
88% 41%4.
Cons. Zinc
South
Cons Goldfields of South Africa
Onl~60 Bd.
De Brers def 179 174d.
Free State Development & Invest-
menimba 3 (Ex-Rights) cor.
9.
Holguny fin đó 103.
"Tin-ös 3d.
-10 d.
Southern Kints Cona Lid-27 3d.
Union Corp-on 1945.
West Driefontein Goldmusing-167@
West Rand Con-225 Gd.
oli
British Borneo Petroleum Syngi- cetola 34.
British Petroleum Co.. LÄG—EB), Burmah-108.
Royal Dutch Petroleum-E14. Shell Transport & Trading-148% si -Reuter,
Warning Of An Economic Split In West
Boston, Oct. 19.
The United States must, soļa
bickering two development groups in Europe If it is to prevent an outright split
And
victory for the Communit economist warned today.
&
world..
$11
over
true
New York money rates have bitten the bullet, with a till yield of about five per cent which and a short-bond yield equals nearly 5% per cent
That could be the the barks.
of the American' money peak cycle.
Only
ما
New South African Bullion Firm
London; Oct. 19. A new South African com. pany: Boilion Merchants' of South Africa Limited, has been formed by Union Acceptances Limited in conjunction with Samuel Montague & Company Limited and Mocatta & Goldsmid Limited, it was anriounced today.
The new firm will deal in
in the
is always Montagu, the autumn
current trends in Sweden's foreign trade seem to Indicate o continued growth in
imports during the months, Affarsvariden says, At the zame time it is unlikely that the accumulated lead. at- tained by exports compared with 1958 will be retained for the rest of this year. There is reasch, to believe, therefore,
It can be argued that if the compulsory voting British had which forces the inarticulates to the poll the election result might have been different,
Dow Jones closing averages were: 30 Industrials
20 rail
13 uitles
63 TCHA..
Commodity futurn index
Commodity spot index
MOST ACTIVE STOCKS
Amer Mira 037 off
Volume Stock
45,000
37.700
10.49 For Whit
- Sludo Pack
Closing Prices
Abit.be Pwr, & Paper Affed Cheinicals Am. Natural Gas American Tel, & Tei American To Armes Sterl
Algoma Blael Corp.
Anaconda Copper
Business done at the Hong- kong Stock Exchange this to appro- moming amounted ximately $1.397,000. Noon quota (lors and the morning's trans-
actions:
Rhares BANKS
Itayer Seller
HK Bank. 1000 1000
Baits
50 15 00745
JO J ICN
30
1:9
INSURANCES
1-3
De 400
13
2520
Waterboat
Wheelock 4.43 8.50 DOCKS, ETC.
123 100
321
:00
** 400
14.70 14.00 100
121 121
3512 00 200 351
Hotel 2015
Page
Britain Leads Shipping World
In Construction
4
London, Oct. 19.
Britain had increased her lead at the end of September as the world's premier shipbuilding nation, according to figures released today. Lloyds quarterly report of Apart from the previous hipbuilding returns said, how-quarter, this over, that a period analysis of lowest since June, 1957,
gute "how showa; trend to. The Incriasť war due to "a wards lower output" in Bellow figure of completions rather Than a high figure of tonnage
taiz and other countries.
Britain's
hinyards
were
total was the
commenced," the report added.
Th
working on 202 vessels with gross tonnaga of 2,097,784, an
roturna chowed that ina sase of 94,010 tons over the Japan, the world's, atcond ship- previous
was building nation, had increased quarter. Tils more
of the her turhage under construction one-Eith
under by 37,101 tons warld' toini,, tonnage construction.
than
Tanker Market
More Active
ALTHOUGH the rates are
changed,
there
was a bout of renewed ac- tivity in the tanker market and the centre of interest shifted from the Amarican trade back to the Persian Gulf.
32 1000 31.73 has
C. Light 30.32 38.40
700 31.75 27.73
אלית
US
Persian Gulf/Britain indicated by Europe rate is
Scale Lambert Brothers minus 30/57% per cent com- with Scale minus 62% pared per cent in the previous week,
1,206.683.
Sweden
A total
of
rzached
record A 848,308 tous (UD) 70.420 ton from the previous quarier), but. this was
"duc to a relatively low figure of completions dur- in the quarter.“ FIGURES
Other quarterly #gures were: West Germany.-968,000. tons (decrease of 22,454).
tons (du
Italy. 780,571 crease of 115.851).
Netherlands, 764,089 tons (dzarcass of 25,088)
crease of 133,084).
Francc682,074 tons
(15
tons
tons
United States-365,787 (decrease of 82,019). Norway-338,932
crcase of 23,435).
Spain-282,604 tons (increase
of 13,287).
The main reason for the renewed activity in the Persian
was the keen shown by Stanvac in Lonnage crease of 13,230).
939.64
138.11
91.48
212.70 K. Wharf
348.73
165.98
Docks ***
Provident Taikoo
close changer
LAND, ETC.
Altegh Cup
13
unch
34,000
SL-CI NJ
47:26
OFT
HK Land 321 37.75
32,200 Stud Poo W
15
25,000
US Steel
oft 36
NY Central
22,030 22.KM
Con 'Mir
BJ
off 139
Freally... RUNDER
Thiokol
511
Amaig, KD
1.70 -1.725
3.45
3.00 5000 ve
W
up
3000
10%
2000
EX
A. Tawah
4.26
Sungala
UTELITIES
Tram ..... 30%
31 1453
30.12
Poland-245.375
fons (in-
150
30.75
Star Forry
133
crease of ́11,891).
Yazmati.
Gulf
interesti Denmark.238,805 tons (de
XD
120
127 103
137
200 int
127
300 6
128
from
200 +
1217.
2000 (4 18:40
there to the Far East. This
Axed company
three tankers bed and further require-
Yugoslavia. 188,759 (deerbale of 10,758).
tons
Eelgium.-184,495
tons
(de-
2000 i 194?
crease of 38,601).
Electric
23.00
23.3
Canta-109,250
tons
1000 va 23 BO
(10-
210
23 50
in early September.
crease of 20,485).
Пto. 12.70
138
12 93
Finland,-107,181
tons
(in-
MAD H. 10.90
¡crease of 0,095),
10
Telephone 20 39.75
100"
201
1521
INDUSTRIALS
Another feature of interest
Coment
100
30
STORES, ETC. Dairy. XD 21.30 21.20 2333
8231
4630 1200 1050 21.10
20.80
Z
20021 20
Watson 23.30 Lane. Cras
300 2340
25
400 300 24,00
24.00
paid for this business.
COTTONS Textiles.
9.35 9.50 2800 11.
0.30
9.15
1030 61
11.20
3000 gr
935
9.40
tanyang 15.30
2000 19.20
2000 e 15.to
300 не
15.20
INVESTMENTS Int. 2.K. &
Invert
12.10
Asbestos Corp
Bank of Montreal Bank of Nova Spotla Beren Lila Savers Bell Telephone Benguet Cons
Airplore
arine Stoc
British Amer. Oil
Cada. Bk..of Comm Carrier Corp
Insurance
non-ingationary settlement of the American steel strike is now required to gold in different bar forms and
interchangeable gold cat Tractor disprove the charge that
Issued by certificates
Samuel Chesbrough Ponda Western Democracy
Bank of Nova Cupsier Motors
Clark Equipment prone to inflation.
Scola, Deutsche Bank, A. G. Coca-Cola
Union Colgate-Palmolive Co. of West Germany and
CU, Edisco Canolidated Paper Acceptances Limited,
The firm has been appointed continental
dealer in gold Coin Prod.... an authorised
Crown Zellerbagh by the Reserve Bank of South Distillers-Seagrams
Earlier this year, the Domino Stores Africa, that the outcome of this year's But Australia does tave it and
Bank Douges Aircraft South foreign trade will not show the yet decisively rejected the elec-announced it would
Dow Chemical negotiate Dupont de Nemours same strong improvement as in-oneering which
more the sale of standard gold bars Eastman Kodak dicated by the January-August specife in making promises than of about
Ford Motor 400 ounces to non- General Electric stutistics, but nonetheless the In clarifying how to pay fou
residents of the sterling area, General Motors Improvement will be substan-them-China Mall Special.
The Transvaal and Orange Free Goodyear tyre Gulf Off.. State Chamber of Mines later Intel Harvester announced arrangements for the int Nickel
dipl.
Rubber
Market Review
Singapore, Oct. 19. With news of U. K.'s stock-
pile programme the mar ket opened lower but ruled quiet at lower levels with the majority of dealers awaiting London reaction. Lower sheet
apart from some nearby covering was neglected.
seems
African Reserve
Product
Agreed Merchant sale of gold in kilo bars to non-int Silver
Belgiun Selling 887.
Rates
Franc, Maxim
Yesterday's Closing
sterling area buyers. Under Monsanto Chem these arrangements, gold may (Nennelt Copper be freely exported or left for New York Central
Olin Mathieson safe keeping in South Africa US, tubbor free of charge for an deanite US Steel period,China Mall Special.
Woolworth
COMMODITY PRICES
METALS
LONDON
Closing prices, all in sterling
The market was idle for most per long ton: of the afternoon, but there was Tin ipot same enquiry towards the close onth
Copper spot for November No. 1 Rss which
..amcntas. improved prices slightly.
Les 2nd half Dei. Jen. Zine 2nd half out.
Sellers rermined reserved."
In New The Altand C. Neal, President futures, today
of the Commities for Economic points Jower Development," said a browing contracts.
split between Europe's common market and the "Outer Seven
#reatens the West.
York, rex, rubber
closed 10 to 20 with sales of 20
Prices moved lover in slow
dealings.
"We should realise that the The present programime split in Europe is dangerous fon sales to be made by govern from the standpoint of 'que, eco- įment, sales agency for the cur nomic compétition with. the rent and next three months do- Communist world,” Mr Neal livery,
Bald in a aprech prepared for. the 21st Annum) Boston Con- on . distribution. “We Dirence must realise too thist just be Europe needed
No...
No. 4
Spol rubber, unbated
001-1001 1042-104-6
-1001 11314-118
LONDON
Blanket crepe-
No. à pele crese
Closing prices all pence per
Contract No. 8 (domeilio) Nov: 8.51; March: 0.42; May: 42; July: BB0: Spot(CL – NÝ. duty): 5.80-UPL
FOREIGN "EXCHANGE
the
No. 1 R spol.
324-31
Buyers Sellers |
Settlement House term:
704 Nov
3074-31
1235 | Oct./Dec.
2301 (208||| Apri/Jumpe
704% Juby/Sept.
28/2017
・下いま
TRA DOL/DOC
paiz
metal marketa, cid hasts, ports: Canada
aad
PT.
NOV.
RUBBER
что
Elitste grepe thin
per
NEW YORK Closing Tutes: unfueled England official
Dilek Oct.
·AMSTERDAM.
New
106.9/10
2017
30-days DO-days
277
Zestabid South Africa Closing, prices, oil in guilders Belgium
Downark
W. Charmminor,
gräm, elt Dot. rubber
20 nom?
2.51 nom. 3.70 nom,
UTI
SUGAR
calls
NEW YORK Bax rubber, futures prices, all in cents per
Nov
No. 1 Rss spot was quoted at
Nov.
centa
fo.b Malayal
all in een!
49 cena.
In London, the ribber'mar- our aid in the ket was certain with spot period of its own reconstruction, quoted at 32% pence. we now need Europe gid in the
further disk which Hes before In. Ansietdim, the rubber sukiok developing ing · inder- undket was uncertain toda
developed world, mur
LONDON
ex
800 180ments to Far East options, with 24 1000
loading at the end of August or
*J
CHINESE CHARTER
The report raid the consider-
has been in the clean section of able variation reflected the un- the market, where, after some settled state of the shipbuilding 2370nine months Inactivity. Chinese industry in the world generally.
charterers fixed a 15,000 tonner
CHICAGO GRAIN MARKET
from Constanza to China. The TOTAL TONNAGE rate, at about 60% was op-
preciably better than the
Just
The toll tonnage under con- striction in the world for CK- pórt amounted to 3,711,832 tons, Both the American trade and of which 20.6 per cent. was the trans-Atlantis market were being built in Japan, 10.8 per
very
per
slack. In the latter. Gulf cent West Germany, 14.5 Oll covered it Caribbeans to per cent in Sweden, 7.7 Lisbon requirement on terms cent in Italy, 7.8 per cent in the 6.2 per cent arranged privately, and there Netherlands, and W28 nothing else definitely iri Britain. the dirty section of quoting in the market though the Germans fixed a T2 tanker clean from Venezuela to
The Continent of
Europe.
FUEL OIL
Japan had a total of 765,250 tons under construction for ex- port (63.4 per cent of its total tonnage), West Germany, 726,- 275 ton (75 per cent) and Sweden 530,740 (63.5 per cent). The biggest customers for After weeks of preliminary chire built in other countries negotiations there are reports were Liberia (810,540 ton), of cargo purchases of fuel oll Norway (620.019 tons), concluded by
whaling Britain (568,735 tons).. several grounds. It ja clear from the Countries making the largest low prices agreed by certain additions to their existing filcots major oil companies that com-were Great Britain ⋅ (2,234,087 Chicago, Oct. 19.
Norway (061,556), Grain prices were mixed to-petition, for this business has tons).
| Liberia,,(910,540), the United day on the Board of Trade.
Lambert Brothers indicate the States (621,171), France (579
Bri-658), the Netherlands (50913), rate from Caribbeans to
been dercer than ever.
week, and the rats
and
At the final bell whoat was tain/Europe at Scale minus 80 (500,658), Japan (4414016) unchanged to off; com up per cent, compared with Scale tnd Sweden (375,090).
821% per cent in the tin in the world, anounted to Oil Laticers under condrug- 4' to oats off to up; minus Tye off to ; soyabeans oft previous
to and lard of 10 to up from Caribbeans to U.S.N.H. at 24 ships of 8,219,003 1039
A.T.R.S. minus 5214 per cent 23.25er cont of the total ten- compared with A.T.R.S.. minus (age-R¤ulër, In wheat, prices, receded from 55 per cent in the previous
3 polits.
early highs when commission week.
house, selling satisfied a comi-
mercial demand. Trade was
light, Some of the selling follow
ed. a joint U.S.-Canadiah Co Thick Plate
mittee's call for a coordinatea
disposal plan to solve wheat surplus
nations.
problems ut both Ship Welding
Dowards wordt exportEnd of thick steel plates were made 1,230,- TQUIPMENT for the weld-
Germán Airline's Working Löss
Cologne, Oct. 19. UFTHANSA, the West
Le siding, fost £2,702,330 in 1958 compor..
lim, Corn prices tallied after diboing to new lows in the, on ships là baing mörketed in ed with 62,093,220 in 1957 according to its balance nearby contracts. Eleválor Brittiin. Bel
The equipment (of the wheat flued today, a jed brokers sold heavy amounts of December. But casis - hamises vicciro-sing type), is intended. The planet of pannenkoek for use with Whaler of thickness carried in 1968 rom by 44.8 par od 1/18 bought, and local shorts cover-
of Extrem unward and cent over, the previous year, the 1/18 ed on the rally, a ban
starved to Bertable for the enbont of freight by 88.5 per Oats were steady. Shippigwaldg of heavy indents cant and use amount or mail by houses bought December; and Li selaid BE at plates: Weld-se per cent, the airlines Board commission trade was mixed. perbemed with the joint reported Income by 38.3
-UPI.
Exchange Rates
Eighth marked cable
morning at the following: ralogin
sterita
Bingapore
S
alg the Gurtita Gosition: neque
Boorbased sofa to bo občent the coals By ab. Child with the presens are at on
but an insitation of
per
of the welded fount in one run care o pino, Eottish | Vickers
nir kapead, ot lig series of deporte, Viu siurboprop
exine Other | lankos bf which, five hayo, ale Thethods, and the induction By
been ! dellyered,tefour Boo7707, 30 planes
by Rockew
Croydon, Surrey, England, Rou
12h one has aireddy been
the report statect