THE CHINA MAIL, TUESDAY, NOVEMBER 17, 1959,
GOOD WEEK FOR BRITAIN
New Records In
London MODERATE TRADING
Exports, Steel Output Closes
Britain continues exuberant:
London, Nov. 16. On Wednesday of the week onded November 14, new all-time récords were reached or reported for London equities, monthly exports and October
a remarkable bag for one day.
steel output Naturally, this brings enu- tionary noises against taking too much tor grantei too soon, but in Inc It is dimcult to find fault. If, as appears Britain more than half a century back has lately had several trans- to And formations, It Is sounder to have gone
pics them than to ignore or deprecate them.
has not had it so good for more wrong, than 50 years.
He says you will have to look a period when things
the Stock Exchange bulls are only too glad to agree with him.
Som: fures have been pat of Washingien's ideas of bring so well for so longing for United States external more manageable and with such ʼn mood of con- deflet into
Washington Mc. compars tent assurance.
experts to pet even WCALI Tila is a period
of excep- eliminate it thely, since they Success. All think it n good thing that other a: Manchester University-basional economile
ecuntries should go on chlorg been saying that it is not pro- the signs are that the learned
reserves Ing their dollar Britain professor is right, and right or
Ing fact that paganda but
One academic economist-the Professor of Political Economy
NOTICE
On the 8th ultimo the local press carried a report that our firm was summonsed for infringing the trade mark of another company. We wish to take this oppor- tunity to thank our patrons and our friends for their concern in the matter. The facts of the case were as submitted to the Court by our legal representatives at the hearing of the said summons:-
For many years we. Messrs. Shui Cheung Pearl Co., have carried on business both in Hong Kong and Japan essentially as dealers in Japanese cultured pearls. Our firm is well known to the public because of the high quality of our goods and the indisputable honesty with which we have always dealt with our customers.
Lower
London, Nov. 16. Stecks closed lower on
a
ON N.Y. MARKET
New York, Nov, 16.
Stocks ruled narrow and mixed in moderate trading
today.
broad front today Streld continued to sag with industrials and small solle me rapid resumption yielding issues feeling these production brunt of the decline.
a
Noticeable weakness was dis- played in 1.0.1., Unilevert, Tube Investments, Metal Box, British Oxygen, Guest Keen, Turner and Newall and Marks and Spencer. The small amount of selective buying showti up in brick shares while Emmies were strong feature. Bank, inruranes, and pro- hire purchase, finance perty shares all cased.
Geverument bands closed vided only that they do not do Bruner, foreign bonds were mix- it so fast ns to prejudice theed and dollar stocks eased. United States gold stock or the dollar.
U.S. Exports
On balance, the improvement of two billion dollars next year wholly to Coms is expected
of that ΠΑ increase from
ex- States amount in United peris, thanks mainly to cotion, je plories axi removal of dol- lar discriminations abroad, that is enutiously put down for only million-very prudently $100
prezent considering the petitive position between the sup- United States and other pliers.
com-
No wild hores are pinnet on sources. Icss dependable
that $300 Washington thinks million of defence costs might be taken over by European allie, that $100 million can be by a reduction in military
52 ved
dc | McDonarli Alverrfi
Molins Bemical Co.
under court Beth-
Youngstown, decree Ichem Republic and U.S. Steel were down around a half
cr more.
The ectronics, pace-setters had some in recent scesions, good griners, Motoroli jumpes more than four points, 14 and Texas Instruments major function.
Zenith
Brunswick-Balke opened Inte on n 25,000-sbare block at 40% up 24. Universal. Watch also came in strong with a goin more than four polerts.
which Alleghany,
appears hended for a proxy battle, was up a fraction.
Manto Chemical Montgomery Ward Motorais ns. National Bicult National Cam Reg. "A" National Disey Prod National Lead
National Steel Corp. New York Cential Noranda Mines Ltd. Norfolk & Western Ry. North Amer. Aviation Northwest Airlines (Com.) Olin Mathieson Ou Elevators Owen-Illinois Glas Oxford Pate Co. Pacine Gas & Bee. Pm American Airways' Paramount Pictures Parke Davis Co.
Procter & Gamble Co.
of
Pena. Salt Co
Philip Morris
Pitney Bowes
Publicker Industries
Radia Corporation Raytheon
In the motors, American lost more than a point, while Armed. General at its previous
Gold shares drifted lower. coppers held steady while Line supped after a firm stail.
Olls were mixed. Rubbers Studebaker were strong.--UFI.
Closing Prices
Gilledjed Bonds Transport 2
Britis LOST.
Consols 24-2017. Console 4-2 16-15/18. Conversion Lean 35 £07-3/16.
Finding Loan 3
£25
Funding Stock
21-0/16.
Punting £13-115.
Loan ར་
Motors held close
Closing Prices
Abitibi Pwr. Paper Allied Chemical 18th/m-Allied Me Inc.
1967-
1859/09-
315, 1000/2004-
Banks
1000/90-
Saving 3, 1955/65-£91-0/15. Savings 32 1080/10-£14-3/10. Savings 1005/75-78-11/16. Barclay's
Bank "A" Ltd Chartered Bank-666 31. Hongkong-£59.
Insurance
Amer, & Foten. Power Am. Gas & Electric Am. Home Prod. Aan. Bacb. & Fdry. American Metal
Am. Natural Gas
American Smelling
Am. Sugar Ref American Trl & Tel American Tob...
ord-Ananda Copper
Unlon Insurance Canton-3-3/
Alteraft and Motors Bull Motor Corp. Ord-21 3d. Ford Motor Co–1008.
lootes Ltd "A" Standard Triumph International-
Hitherto we have used the mark consisting of a shell device with the letter "S" superimposed thereon. The letter "S" was introduced to represent the name of our firm, i.c. Shui Cheung Pearl Co. Unknown to us the Complainant Company in the said summons have ramenities abroad, and perhaps 109 100. gistered with the Registrar of Trade Marks in Hong $200 million from tying the aid Kong a mark consisting of a similar shell device with programme
The said supplies. the letter "M" superimposed thereon, summons related to the said Company's complaint that we had infringed their rights by the use of our mark.
to United States
Paring
Breweries
36.
Disting and materialk
Co. 35 4254.
Associated
Portland Cement-75
chin Johnson Associates Ord- 2001, Steel & Engineering
Babcock & Wilcox Lid-431 746d. Vickers Lid-2011.
Food and Tobacco British American Tob. Co., Ltd Co.. 144-68
The use of the shell device is very popular in Japan and is in fact adopted by most pearl dealers in that! country (whether with or without any other devico or devices and/or any word or words). According to Japanese law no individual peart dealer can acquire an exclusive right to use the shell device. Unaware that the Complainant Company have registered the shell device in Hong Kong thereby acquiring an exclusive right to use the shell device, we were also under the false Impression that there was no difference between the law in Hong Kong and in Japan in respect of the use of the shell device. We had at all material times thought that the introduction of the respective letters "S" and "M" had amply differentiated between our firm's device and that of the Complainant Company.wn, the United States is no The summons referred to hereinbefore was in fact the exercising any of its options 10 direct result of our ignorance of the difference between buy more
The from Canada. contracts are being the law relating to trade marks in Hong Kong and existing
stretched out and Canada's Japan.
to find uranium industry hos ways of concentrating them in. the most efficient producers. will not necessarily be tragic. In some cases, there will be in
efleleney, to the ad- crensod vantage of profit margins.- China Mail Special,
All these last three only add up to $800 million which is ex--G# 36: Tobacco pected to be taken by continued ad. increases in United States im- capital ex- ports and private parts, so the paring process-d
Is paring, not axing it really
ends with the two million dollars that it started with. It the calculations are wrong. there will be time enough to argue.
For the convenience of Importers
and Exporters in the Kowloon area
THE BEN LINE STEAMERS LTD.
have pleasure in announcing the opening of their KOWLOON Branch offiCE
on 18th November
at
3rd Floor
HONGKONG & SHANGHAI BANK BLDG.
664 Nathan Road
Mongkok Kowloon Tel. 50587
P&O
R.M.S. "CARTHAGE”
EMBARKATION NOTICE
The dollar and gold are not storm centres at the moment.
Deciding that it has more than
enough vranium of its
Exchange Rates
Miscellaneous Boardman Marden Ltd- t British
Ltd. On---778 Oxygen Canadian Pacific_Rly-#4612. Thinlop Rubber Co Zla Hongkong & Ching Cas-134. Imperial Chemical-556 d.
ad, Lyons & Unilever Lid-132 6d.
Paper
Ord--671.
Bowater Paper Colectrical
Radio and
• Amociated Electrical- d. Electrical & Busical-700 ed cor. English Electric Co-43 d. General Electric 438.
Skipplag Todo-China Blearn
Nav. Co. del ord lam Navigation det, ord
PAD 420 30.
Stores
Great Universal Stores "A"-50% sold.
Marks & Spencer Lid-14 38 eur. Woolworth W. & Co.-a3s Gel.
ffextiles. Coats JP Lid-354. Courtaulds 'Lid-576 d. It
Mines Anglo-American Corp of South Africa-201 6d.
Cona Goldhelds of South Africa--- 839_3d. Cons
Ord-7 30. Zinc Corp: De Beers del 1928 Dd.
Business way! done In the locat riccial Exchange market this muming at the following rater:
0.8. dollars (per 31) Starling notes (per £11 Australian notes (per 46). Indonesian rupiah" (per 100) Stam cal (per 105) Bingapore (Strelty)
5.70
Free State Development & Inveal- mends
Hongkong Tin-5s 104.
Petaling Tin-1s 13¿d.
Hand-03 d.
Southern Kinia Cons LS 348.
Union Corp 75 750.
A
Armour Asbestos Corp.
Baldwin Lima-30am,
¡ Pure Oll
****.
Republic Steel
Royal Bank of Canada Bears, Roebtiele & Co. Shell Oil Co... Safeway Stores
Bungling Mining
Swift & Co
Texas Co.
114
27
New Short-Haul Jet Airliner Under Experiment
A
IN ultimate 600 m.p.h. airliner for economical short-haul operations throughout the world is now under experimental construction by de Havil- land, Hunting Aircraft and Fairey Aviation, back- ed by Rolls-Royce and specialist engineering con- cerns. It is understood the new aircraft will be in service from 1964,
European
Abewnys, | tår for engine starting and cabin British 331 Largest carriers of air travellers air conditioning on the ground. United States of The airstairs are stowed beneath #autride the
the floor at the forward paren
er door.
344
412
675L
T8
401
121
The low operating cost of the results partly fran tha decision to cater particularly for short haul and partly from the
knowledge arid unique
America, have placed an initial contract for 24 of these aircraft, with att option for 12 more, and have stated that they expect to I need a Inger feet, 35 Dellvertes to B.EA. are to start late in 1903 and overscas deliveries can .commence. soon afterwards, The first aircraft will fly Inje in 1961.
The D.H. 121 is aimed at the market and is short-haul désked to carry a moderate-ze haul, duly. 211 lond at very high speed, with
40
4091
perience possessed by the Alreo companies and Rolls-Royce. It le possible to offer a sent-mile cest nciably belter than that of other designs that seek to com- bine short-haul with medium-
Airline cronists will
very low ssenger-mile costs, precinte this in learning that, by standard calcula- out of airports having moderato. the A.T.A. length and even short runways. tion, the cost per scat-mile of This general specification is in the airco D.H.121, on a 090- a mile stage with economy- with the findings of ine
242 world-wide
6 conducted by
41facturing
Saint Reg. Paper
Dat
Schealey Inc.
34%
$ JP
Beott Paper-
FO
1133
| Sindair Ŏil ...
48
30
Smith, Kline & French
All Chalmer
341
Secony Mobil Of
Am. Brake Sce
50
Solar Aircraft
IB
American Cyamanid Co.
American Cable & Radio Corp.
10%
Bouth Puerto Rico Sugar
2011
577%
Southern Co. (The)
5831
Bouthern Natural
30
451
Southern Railway (Com.)
104
Standard Brands
31
Standard Oil of Cal.
24
57%
Standard Oil of Ind.
50
Standart Ou of NJ.
Btrel Co. of Canada
路
Sleep Rock ......
112
103
Stone & Webster
541
好
Bludetaker-Packard Corp
34
3711
1832
33%
Textron inc.
Tide Water Qu
Beech Life Savers
2415
Time Inc.
Bell Telephone
40%
Traders Finance
Benecal Fence
ཤ་
T-Cont. Warrants
Bendix Aviation Corp.
67%
Twentieth Century Fox Filia
201
Bethlehem Steel
Union Carbide
1331
Boeing Mrplane
13
Union Oil of Cal
44
Derden (The) (5.
na
Union Pacine Hellway
Burroughs Add Machine
United Aircraft
3314
United Fruit
2014
United Gas Corp.
60
58
U.S. Cyprum
11-
US, Life Co.
2411
US. Hubber
20
U.S. Steel.
30
US. Steel 1 P.C. PF
14014
2013
433)
1. 2. Financial Corp.
Waukesha Motors
Chester Motor Cructt Peabody
Westinghouse Air Brake
201
Colombian Carbon Co.
4016
4435
59%
4119
|Baltimore & Ohio Bank of Mutical Bank of Nova Scoda
| British Amer. 011
Britas Columbia PWT. Calif. Packing Corp. Cina, Dk. of Commi Campbell Soup Co. Cardion Pucife R Case (1) Co. CAR TracOT.... Celmese Corp.
Consolidated Edison Consolidated Paper Cuban Amer, Sugar Diamond Alki Diamond Gard Pustillers-Seagrams Douglas Areen Dow Chemical ...... Dupont de Nemours Eastman Kodac
El Paso Natural Ga Family Finance Corp. Tirertons Tyre & Rubber First Nat. City Bank ... Ford Motor Co. of Cana. Gatineau Power
Georgia Pacie │General Dynamics General Electric
General Foods
| General Motorg
Gen. Pul. Util.
Gen. Tyre & Rubber Goodrich B. r.) Co. Goodyear Tyre Grumman Aircraft Cult Of
Thickel Chem.
Warner Bros.
Westinghouse Electric
Western Union Tel. Co. West Va. Pulp & Paper
Winn-Dixie Storey
Woolworth (K. W. Zenith Radio
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
231
market research clasa scuts, is 1.04 cents.
The moderate size of the air-
Aircraft Mary-
Co. Ltd., and it is craft is very important to its pro- It greatly helps in elear that requirement of Britishfitablity. European Airways corresponds the offering of high-frequency cpecially closely with that of short-haul services, which are
valuable on the shorter stages operators in all continents.
means of More than half of all adeline and are recognised trame is carried on stages of 200 generating new frame-in com- The 121 petition with other airlines and to 1,200 statute miles. is saliable to replace aircraft with surface transport. 38 much as the Viscount, Convair 330 and 440, Martin 404, etc, all of which,
when currying capacity payload, have stage 0191 lengths not more than about There are 1,000 statute miles.
The Rolls-Royce engines aro the RB163 type, giving 10,100 18, statle thrust. This is a by-pass jet engine, noted for economy and quietness,
approximately a thousand air-Freight Rates
craft of this class in service
on order today, not counting the number of DC-3s on less Bsophisticated operations.
115
large
Because of its high speed, low operating cost and the advancedt design that results from Airco's wealth of experience, especially Comet experience, the 121 is not expected to be superseded for many years.
It may be des cribed the ultimate in sub- sonle speed combined with the best possible operating economy. Hts maximum cruising speed in more than 000 m.p.h. 160 km/hr,
At (Mach 0.875 25,000ft, 7620 m.), and its best economy is attained at very nearly that speed-in fact, ort higher speed than is claimed for any other commercial jet air- craft.
With full load the Airco D.H. 121 can use runways less than 8,000tt., 1830 m., long and operate stages up to about 1,200 Business done at the Hong-statule miles, 1920 km. From 4072 kong Stock
10512
Hammond Organ Heyden Newport Hiram Walker Homeslake Mining Co. Human Refrig.
87
Corp.
1745
1024
Idaho Power
3014
Imperial Tobacco
12 15%
Interenerical Corp.
Int Business Machines
400
Int'l Harvester
4812
International Nickel
90
Imperial DII
Ingersoll-Rand
International Paper
West Driefontein Goldmining-Int'l Tel & Tel
1908,
West Rand Cond.
British Borneo Petroleum Syndi
calemãos 115d.
Johns-Marine Co.
Kaiser Industries
Exchange
this
Help Shipping
London, Nov. 16. HE tonnage of "unem-.. THE
ployed" tramp steamers throughout the world fell from 5,803,000 on Septem- to 5,018,000 on ber 1 November 1 but the reversql of the trend in rates seomed to have wiped out this more- ment.
The improvement In freight rates had also been foli in the market of used vessels whero prices rose as shipowners hop- the recession would ing that soon end became less eager to sell.
However, the outlooks was not very bright, in view of the with large number of file shipo and the steady stream of now ships emerging from the yards. To absorb all these vessels, a very large increase of interna- tional inde would, in reality, be needed.
Snu
morning amounted to approxi-runways longer than the modest 6,000 ft. longer stages can be mately $1,169,000. Noon quota-
flown with full payload, fur tiona and the morning's traf-
| instance London Moscow non-
speech last week, the sactions:
stop, which is about 1,500 miles, President of the British Chara- 2500 km.
132 BANKS
Ahares
4.K. Bank
Buyer Sellers
1065
Balea
493
14%
Kennecott Dopper
INSURANCES Union Lombard
Ktberly Clack pan
SHIPPING
Liggett & Myers Tob, Co.
Wheelock
3,70
522/
£2
5.75 2000 of D.TO 2000 8.79 3000 e 5.70
550 44 9.30
Lone Star Cement Co
100 138
British Petroleum Co.. Lid-Lily Tulip
Burmah-408 34,
Royal Dutch Petroleums-2146-
Transport & Trading-19
Byter.
Yesterday's Closing
Lockheed Adreraţi
Loews Incorp,
Lowenstein & Sone
McDermott 2. Hay
COMMODITY PRICES
RUBBER
NEW YORK
Not available.
SINGAPORE Closing prices all in Strults cents per ib. 1.o.b.Malayan
porta:
No. 2. Dec.
For United Kingdom ela Singapore, Penang, Colombo, ná í Des.
- Bombay, Aden and Port Said.
EMBARKATION: Passengers should embark between No ale crepe
2.80 and 4.00 p.m. on 20th Novem- ber, 1968.
12014-17744 14414-10 11.30-133 15042-14015
AMSTERDAM
Closing prices alt in guilders
per kilogram, c.lf. Dec.
No. ber subber
No. 1
No. 3 rubber No. 1. crepe
376 mon
UPL
METALS
NEW YORK
FORLIGN ENCHANGE
NEW YORK Closing rates: Engind ofBelki
20-days
Apidralis New Zind South Africa Belgiskri
Closing prices, ati in cents per RADCO
No. 3 Den. No, Dec. Spot rubber unbaisu
ereje
lb.:
Zinc
Dar
LONDON Cloding prices all
Cupper Dec.
in pence
Bethene zbave termxt,
Apri/June
At 5.00 p.m. on 20th November,per : 1959,
RAILS:
BAGGAGE:
loon Whart Co's Godown (No. 2 Gate)
Should be sent to Hongkong & Kow
by 5.00 pm, oh, 18th November; ogura markant 238. 1959,
(SUBJECT TO ALTERATION)
Nov.
Thin Dec.
11A 11.75b.
W. Gaibany:
Norway
Bit d
11.00
LONDON
Closing rates:
LONDON Closing prices, all i sterling New York
per long tan.
2-north
Lead and hang-
źnia and baté
DOCKS, ETC.
K. Wharf.n 157 130 Dock
Provident 15.40 15.30
LAND, ETC.
passengers.
25
The B.E.A. aircraft will beber of Shipping went so far as furnished to take 75 mixed-class to propose that the world's
should
to shipowners
zgree (for example,
scrap some of their oldest ships, Arst-class, 50 tourist-clas) or
Such an agreement would ob about 90 economy-class pastenviously raise great
gera. Other typical arrange-
ments will accommodate 79 or but experts believed
problems, that the
83 mbed-class and 17 ecoremy-present situation requires ro class travellers.
The fuselagemedies of this type.-AFP.
outside diameter is 12 r. 141⁄2
200 6 15.70 ins. 3096 m., and the inside Transfer Of 1000 15.50 diameter is lift. 7 ins..
3.020 m. First-class neats may
E.K. Hotel 1⁄2 32.75 1700 32.50 | be either four-abreast or five-
4
H.K. Land
Humphreys 18.80
19
Naulty
RUBBER
Amalg
100033.75 abreast, tourist and economy-
200 32.75
1180 432.70 class seats would normally be
000 38 ax-abreast.
500 a 18.50
Ships Registry
New York, Nov. 16.
owners of
Drawing upon the outstand- AMERICAN Flying under
249 6 11.80 Ing example of the Comet the "Rags of convenience"
43 15.00 200 a 18.30 Arvo D.H.121 will have dodile
1275 180 11000 13.75 handling and landing qualities, those of Panama, Honduras Hanity. Its 12.50 150 4400 € 1.83% and it will be equipped for and Liberiaïsald that if automatic landing for safe all-
American maritime unions weather operation. This short- field capability will enable the Wore successful in organis- aircraft to serve, a very large Ing their alien crews they number of small towne, syhose would be forced to transfer air-troval needs are suro to
Trukt
A. TEWE..
Bungala
UTILITIES Tram.
Star Ferry
380-40
6500 g 3%
3.78
4.24
3,40 2003 @ 2.175 506 1000 6 496.
15
312 31
$130
grow, and wih play an import their ships to European, re- ant part in making Jet-travel gistry. --
- ':; -
standards available In Inter The American Committee for developed areas of the world; Fings at Necessity-comprising the 121 will be univermally c-19 U.S. shipping, industrial neid
run thair An associated tea-od companies, who beptable. C. Ligh ....... 30,30 22040 1000 20.30
ture will be the ability to land ships under the age of these nations raid in a 50000 safely with a high weight (85 throe Metre 200 2400
Imetrie Bonus 32.00
unchanged Macro E.
unallanged
ÜFFEZ ALISEMAK
Telephone
INDUSTRIALS Coment in
Duty: 2060 200
10.40
per cent of the maximum take-memorandum, sent to the State on weight), so as to operate Departmerit that it was fall but stopping services without having posible" to operata urrubed- died, taxisesp and bulk carriers {19% | to, refuel:
competitive international The excellent take-off and in Climb, will carry engine noise trade with American seatmen
The wages of dinerizes Bed- High away above Bull-up Dress
et-Boise suppressors will be men, har flach 850 per cent fitted and the exterior todo ano 1946, the Association da
200 @ 1035
1000
bet
360 | HOTALKING" WIl be no more than cisted, and they now earned
propellere more than three times sa much
1 of 2010 | driven for bruk unleri The # Xuropean mwyn
rank albumilágot, the engines wil give th exceptionally quiet
main truda.
power unit and fir titled to
The Committee is that it the American maelime unions them alten crew ther would be forced ld tescille their alipe by Biropa, Y LEY out of the Athletiva mālitary conten), ndo; that UiBiewer: Chin