THE CHINA MAIL.
TUESDAY, DECEMBER 22, 1959.
RECORD TAKE-OVERS Wall Street
London Market
Kept
Active
London, Doc. 21.
With a lively demand for shares, and with tako-over bids for whole companies, London Stock Exchange has never a dull moment,
Starling with British sellers of company shares, hut Aluminium and ending to far) meanwhile it is the buyers who
de Havilland, with
this tax are happy. Jen A record year for take-
prices. So for in this recovery, These Butz crisis expedients the development has been close arm outdated by the passing of enough to that of the 1954 |the Suez and any other sterling recovery to amuse suspicions crisis.
that there will now be a price
The
plum elmilar to that which If Britain ever needs are of Beurred al this singe
of the the enlarged IMF resources she
can arrange them like 1954 cycle,
United States or any other Mau member country-China
The present phase lacks some of the 1954 preasures. On the ether hand as the New York Special Fed remarks and as cans and aluminium betaken, the steel
ruation may be building price pressures which 1954 dud
not suffer.
Only time can tell whether the steet conflict is between the enemies and the defenders of the dollar or merely between two sets of its enemice.
Impasse
if there is
الذر
This week has brought more
Impasse in Half a dozen investment re-warnings from leading Ameri- volations, and the Gener! can banks about the United United States labour relations it Election which brake
the States balance of payments, thecould conceivably have the same in puillent spell, are still working inflationary increases in United causes as Britain's impasse theurlers out. The situationStates costs and prices and the 1026 an apparent geopontic dispute concealing a deeper so- ir which nearly all leading end of the post-war era of al-
tioiinreal cleavage, and a wrong British companies W. worts most
change ratu. more dead than alive cheiously supremNCY,
Brain In fact, wage vel not endure i
Lo endure.
nutomatic
rates in the preval vonomig system was United Staten have not been Irising faster than abroad. For the forelag wage some year's trend has been catching up on the American.
Jobbers Shart
Devaluation
However, It is still
far
RUBBER
MARKET
REVIEW
Singapore, Dec. 21.
Continues
To Hold Firm
New York, Dec. 21.
Stocks held firm during the session today withi
electronic and motor issues setting the pace.
on
Less than two points separate the industrial stock aveTREO from the all-time high reached Austuct 3. The market made several attempts to hold the high last week but gave in ench ilme to profit-taking be- fure the close.
Motorola ran up nearly four points in the electronics, In- The market opened steadier | temnational Business Machines on improved overseas ad-jumped more dhan two, Texas three and vices and advanced sharp-instrument nearly fx-
more than ly on
buying which General Time
point. probably was in anticipa. tion of default in market which confirmed at noon.
Lower stel Wed In demand for nearty shipment otherwise the market was neglected,
In all other respects the two situations are utterly dissimila but if there two similarities exist they could be medal.
The whole thing remains be at-
tested.
-Skeling remains under occa- sional technical pressure but the British authorkies fitor
The market in the afternoor was lo pelivo with a tendency for prices to caso slightly, This trend necoleratexi
Jeboris are hort of some leading soares and rather wor ried about it, and buyers dis- play great seasonal and cyclical
be-every sign of confidence in its confidence. As in all take-overs, fimul, It had the 1949 devalua- underlying strength. the terms of lawker's merger tion to discount, and foreign Following the prepayment of with de Havilland are matural- countries have ไฟvi catening the Export-Import Bank joan, official class with prices closing Is belter for the shareholders up much faster in productivity, Britain is now relinquishing her lowest of the day. in the sequired than in the modernisation, salesmanship and acquiring company.
delivery. Eventually, this may carry a warning as between buyers and
after
American
Motors picked up
nearly
in the autos in two heavy
Ford, Generat trading. Motors and Studebaker-Packard added fractions.
Chrysler was Arm ot the Bomewhat opening, but caser
subsequent trades.
Sterik Steck
U.S.
London
Closes
Firm
London, Dec. 21.
| Industrials made ground on the London Stock Ex- change today.
Aircraft Designs Proven On Tropical Trials
WHEN, in a blaze of publicity, an airline introduces a new aircraft on one of its routes, people usually flock to see its first appearance at their local airport. But, there are exceptions to this. Khartoum in the Sudan, is one. For, if the aircraft has been built in Europe, the odds are that the people there will have seen it already many times before-every day for weeks.
This one of the few air-craft and each individual part ports in the world which is both will do under all conditions. elv airport and test nirbeld. Nevertheless, human lives de- Justless were
Steel shares were generally In the height of the summer, pend on the reliability of these and Youngstown,
and freight carrying off better. There were good fea-millions of pounds worth of new airliners tractiontally
for aircraft,no, before" a certificate the early |tures in engineering shares and sircraft are taken there in minutes, évented.
on mi Vickers UA
and English Electric special trupival trials. These are, of airworthiness can' bé; issued, Bothlétum
on news carefully support.
dropped were both very firm
planned, usually last | Britain's Air Registration Board smail fraction.
Republic inks are in progress, for a link-soveral weeks and sometimes must have concrete' proof of #
up of their aircraft interests.
involve transport from Britain performanco.
Textiles were buoyant. Brew-
of thousands of pounds worth of erles and soft drink shares were
valuable equipment. They have to be made before the aircraft is
of air granted Arm
certificato were worthiness-the ileence to do is
MP standhy credit and auto- In London, the rubber mar- matically making her Tiket was steady with spot quot Much depends of course on year North American debling at 35% perice per pound.--- the outlook for United States; payment.
UPI.
*
|Armed.
A Gift with the right spirit
is always appreciated
NOW
ON DISPLAY
AT
CALDBECK
MACGREGOR
To John
Xmas
Happy Mary.
Give a beautifully decorated basket containing the finest wines and spirits.
Please order early for Xmas
CALDBECK, MACGREGOR
20075.
2, CHATER ROAD, H.K. PHONE :
Oils were mixed, tyres, rails and chemicals firm.
Today's volume was 3,200,000
shares.
Of a total 1,285 shares trader 473 were higher and 555 lower.
American Exchange volume was 1,870,000 shares,
Government securities
dull and in the foreign market Greck bands were unsettled.
Olis opened quietly firm but later reacted and closed mainly Bonda volume amounted to lower. Gold shares were seicc- $7,390,000.
tively briter but coppers were duil-AP.
Dow-Jones
wery:
30 industrials
30 rails
Closing Prices
closing averages
16 utilities
$15.07 154.01 27.04
di mocks
40 bonds
210.00 $10
British
Comm. hature price index
149.06
Closing Prices
Gledged Bonds
Transport 35, 1078/88–
Consola 25%== €49%%% Copaols 78. Conversion Loan 34%, 1960- £89-11/16.
Parking Loan J
39585.
297
Abluzi Pwr. & Paper
Algoma Steel Corp.
Allied Mils Inc.
Funding $1ock RIITO. F11
Ain. Brat Bhoe
192
Funding Loan
American Cable & Facil
Согр
II
American Cyanzmid Co
Art, Gas da Electric
47%
172
372,
d.
An. Home Prod.
Am. Mach. & Fury.
Ain. Natural Caps
Am. Sugar Fot Caldwire-La-T Bamit ni tontreal Bank of Nova Scotia Beech Lite Savers
Bell Telephone
Beneficial Finance
Bendix Aviation Corp.
Benguet Cons.
Boeing Airplane
Borden (The) Co
Burroughs All Martine Briti Amer, Ol
Britid Columbia Par. Call. Packing Corp. Cana Bk. af Comin. Campbell Soup Ca Cam (3. I Ca v Ca. Tractor Celanese Chrp C.LT. Financial Corp. Clurit Perbody
Colombian Carbon Co. Consolidated Paper Consumers Gla Continental Oil of Del. Comos Inapserial Mul Diamond and ... Distillers-Seagrams
Dominion stores Douglas Aircraft Dow Chemical
El Paso Natural Gas
Georgia Parifle
1950/89-~
31672. 1999/2004-
1960/90-
Savings 32. 1953/05-01 Savings 35%. 1960/70-20I Savings 1985/10-2774.
Banke
Barclay's Bank "A" Lid ord-
Chartered Batik-854 34. Rongkung-23FK.
Commodity Prices
Unavailable Due To Bad Reception
Insurance
Union Insurance Canton-25-7/18,
Alrcraft and Motors
British Motor Corp. Ord-
7d.
Ford Motor Co-1009 od.
Hawker
27s 101 d.
ปศ
Siddeley Group Ord- Rootes Lid "A"-10% od. Standard Triumph International-
Herwering
Distillers Co-30 101d.
Bunding and Materials Associated
Ild.
Portland Cement-720
Pinehin Johnson Associates Ord- Ze Od..
Coal, Steel and Engineering Babcock 2 Wilcox_jfd-44s Bd. Vickers_Lid-94 96.
Food and Tobacco British Americen Tob.
Co., Lud
Imperial Tobacco Co., Ltd--
100
30
Family Finance Corp.
Firestone Tyre & Rubber
13744
First Nat. Caty Bank
General Dynamics
den. Pub. Util....
2400
91.
Gat. Tyre & Rubber
001,
Grumman Aircraft
2:23
Gust ou
100
Hammond Organ
Hiram Walker......
23
1d.
Hem stake Mining Co
+2
Imperial Chanical--68a Dd.
Human Refely.
Lyons Co-79s.
Idaho PowET
4755
Imperial 011
12
Imperial Tobares Inland 6tvel Co. Interchemical Corp. International Paper Johns Manville Co.
Kaler Industries
Kimberly Clark
Stational Dairy Prod,
Miscellaneou Boardman Marden Lid--40 411⁄2d. Brillan Oxygen Ltd. Ord-799 d. Canadian Picife My-2467),
Dunlop Rubber Co27 Hongkong & China Gas–l
Unilever Ltd-1258 34.
Paper
Bowater Paper Corp ord-71, 14.
Radio and Klectrical Electrical & Musical-möts 64 (Ex= capitalination)
English Electric Com General Electrica Bd.
3d.
Shipping Indo-Chine Steam Nav. Co. def ord-31 ed.
P * 0 Steam Navigation def ond 1947 10350.
Blores
"A"-035.
Univerzal Store.
Grks & Spencer
Woolworth T. W. & Comes 34. Textiles
Courtaulds Lid-dən 7i50.
Mines
Cons Goldfields of South Africa--
DI LUSSO
713
Iggelt & Myer Tob. Co. Laly Toup
4734
Lowenstein & Rowen,
Meermatt . Ray
McDonaril Aircraft
313
Mahi Iron Corp.
Momento Chanical Co.
Motorola Enc.
Nailormo Biscuit Co,
B5
48
Nations Steel Corp. Noranda Milion Lbs,
07
401
Norfolk & Wetenes Ry
2070
North Amer, Aviation
De Beste def-163 7140.
Northwest Airlines (Con)
203
Owen-pola Glas
10340
420.
Oxford 'Paper Co.
Penny J. C. Ca.
710
Philip Marria
Pitney Bowes
5714
Procter & Gamble Co.
804% 1974 S
Publicker Industries
West Rand Cong-## 4154-
Radio Corp. Prel, Raytheon
Hoyal Bank of Canada Bears, Floeback & Co.
Shell Oil, Co.
Safeway Biores
Baint He_Paper
Schenley Inn,
Boott Faper
Smith, Khe
Solar Alrore A
French...
South Puerto Rico Bugar Southern Co. (Tha)" Southern Matural Gas
Bouthern Railway (Com.) Stone Webster Bunshine MiJINE Textron Ino.... Tulokol Chem. Tide Water Of Time MonsORTANT
Sweateth Century Fax Tüm
tmtki Gen Core US. Line Co **** 10-SteriP.C. 17
Western Uinter-Tei, Ca. West Ma. Pulp & Paper
Cons." Zine Corp. Ord-JM.
Hongkong Ti—G
Petaling Tin--78 6d.
Borthern Kinta Core Ltd-31.
When Corp8is 1540 Went
Bria
Drieteniela Goldraining--
Gi cala Petroleum syndi-
70%
Briti stroiaum Co., L
Burmah-456 $d.
job.
#
MASS OF DATA
What takes place on theso tropical trials? Preparations are in hand for many weeks before aircraft Anally leaves the Britain, and in the case of the Argosy, these lasted for three months at the Coventry fac tories of Sir W. C. Armstrong AirTafl Limited
A mass of data is gathered | Whitworth during the extensive firing over prior to the lake-off for Rome When scientists on the first stage of its journey the hut desert. and technicians have evaluated to the African desert. And they thir they sometimes have learnt something new, AIRFIELDS NEEDED usually are sufficiently satisfied
Firstly, the firm sends a team If they can say "Just as we
to inspect likely airfields, wo thought." For tropical trials
needed-one near sea nowadays are made not to flending out what will happen to an air- craft operating in high tempera- tures, but more to confirm what the designers have forecast.
trucks
level and one at altitude, This team has many problems to available, the necessity of send- consider-the ground facilities
Ing out heavy servicing equip- In the highly advanced British ment such as hydraulic Jacks, and Inspection aircraft industry, machines are spare
Just as important is now bullt almost straight from platforms.
the the question of accommodation the drawing board, and designers have usually foreseen for the pilots, ground crew an On work of exactly what the complete air-service engineers,
this kind the programme is con- |centrated into strict and detalled ground and alr checks and the crews geiting
HONGKONG STOCK EXCHANGE
bry
Our Own Correspondent
Balex
necessitatos
proper rest.
Once the decision on sites hos been made by the tropical trials committee the other work geis under way-and there are a thousand and one things to be dene team selection. vaccina- tions, passports, Currency. essential spares and equipment to be shipped out in advance, insurance, routing. Customs
let clearanco....the
seems endless. Further, the trials air- craft, the main focus of all this
Business done at the Hong-attention, has to be prepared.
Into the 40 feet long Argosy kong Stock Exchange this morn freight hold go thousands of ing amounted to approximately extra Instruments, cameras, re- $537,000. Noon quotations and
corders and observer positions. the morning's transactions:
AB addional 18 miles of electrical cables alone жего installed and all this equipment had to be thoroughly checked and re-checked. Although this machine has maintained a re- |markably high record of service- ability full check ked Inevertheless to be made in arder
Shares BANKS
Buyers Sellers
ILK. Bank 1075 1000
INSURANCES
Unlon
SHIPPING
81
5.00 5.03 1600 5,05
Waterboat. 25.00 Wheelock DOCKS, ETC. K. Wh.. 130 140 Dock
2014 BT
Provident.. 18.60 36.00
Talkoo Dock 39% 3016
LAND, ETC. HJC Hotel
3241
500 € 18.03
д
that it left for the Sudan in tip- 254 ft 18.60 top condition. Unserviceability 500 18.70 abroad can prove very **-*
10.70pensive.
100
40 LATEST ENGINES 5003011
13.1: 371 31000 37.75
Humphreys Realty
The major test point on trepi- cal trials is the performance of 500 17.75 the aircraft, which is bound to 500 37.75 fail in high temperature, and take-off and landing distances. First attention wil obviously be
tire paid to
engines,
For example, some of the falling off
20 1375 1423 59000 m 140 1000 1.40
3.85 1000 sr 1.80
5000 3.80
3000 3.10
3200 5.GD
300 500
RUBBER Amaig.
.... 3.471
Trust ......
A. Tawah
3.55
4.70
UTILITIES
Tram
3Z
Star Ferry 137
-140
Yeumati.
120 127
C. Light
XP .... 10.00 19.99 Electric... 23.20 25.40
200
Electric (N) 23.70 Baono P..
11.30 Telephone 90.75
ד1
31
100 138
100 ve 138
100 127
engine power can be restored by Injecting water methanol into
the engine intake (the evapora- tion cooling the air entering the (engine).
Tako-offs are made with and
; without wader methanol · injec- Lion, with three engines func- tioning with engines being cut 25.10s the aircraft leaves the run- 15.10 Way. together with rejected 500425,20 Inke-off (the aircraft abandon- 500 48 20.50
600
13323.10 ing the fake-off before getting
31
2010 Ø 30,75
100 & 31
airbron).
AIR-CONDITIONING
The cooling and air-condition- 800 @ 30.75ing of the fight drok, cabin, and 300 @ 31
|freight hold, "have to be watched -particularly so when un adio- INDUSTRIALS Shell Trauport & Trading-1ME Coment
ultimately carry 384 383% 1000 & 3855 | piano may Ed.-Reuter.
STORES, ETC.
berishable goods on Alrifie Dairy
20.00 2950
100 20.00 service. The Air Registration Lane, Craw. 25.80
400 4 20
Board representative is on hand COTTONS
0.70 0.00
to see that the results éro being obtained is a way which makes 13.70 1000 13.70 them acceptable to the Board.
Agreed Merchant
Rates
Textes
Nanyang XD MISCELLANEOUS Vibro
NVSTMENTS
U.S. Dollars, Maximum selling 17-11/32, Minimum buying Int 17-18/32 T/T; 17-21/32 O/D; Allied 17-29/38 30 days; 17-25/32 40
Canadian Dollars. Maximum
0.30 0.65
6.00
500 8.69 *1000 G 8.00
1000 1360
These are but a few of the mariy paints on a tropical trials schedule, and it should be re- {memberod' there trjáls are only part of the overall development úrógrémne - of any aircraft. While they are in progress. the
probably
selling 15-10/32, Maimum buje Exchange Rates must teamet looking at
16:21/32 T/T; 16-28782
Bucikace was dans in the
merke
Swing Francy, Muxlinum soil-martelet
| KORTBIKE at the following
dollary (ber (11) Maximum dering bowe (perien
Australan notes (per 25)
derman Deutschema Mašinium selling 734716.
#glare (itraise}
evats more ecoote eingelds, the 10081 Upys, for trials, under · auctio
This conditions,
But, that is for another day 10, in the tough pre-service ghock A: Linate through which British Korkit pan on "thala, siny, to
I