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[ Page 2
THE CHINA MAIL, TUESDAY, DECEMBER 29, 1959.
BRITISH EQUITY PRICES World Population
London Outlook For HONGKONG
Records New Year
Gains
London, Dec. 28,
The advance in industrial
shares continued in stock
Will STOCK
Be Trickier
By SYDNEY S. GAMPELL
London, Doc. 28.
EXCHANGE
by
Our Own Correspondent
Business done at the Hong-
Exchange Slock kong
this
markets today and by With equity prices having more than morning amounted to approxi the close a long list of
doubled in less than two years, the gains had been establish-
ed.
Businers
WT
now
look for the New Year is trickier.
may
Liquidating
Profit-Taking
Sets In Wall Street
On
New York, Dec. 28.
out-mately $1,428,000. Noon quota-Wall Street deglamourised the recent favourites in a moderately active stock market session to day.
and the morning's trans-
which
actions
Shares
BANKS HK, Bank.
Buyers Sellers
Raica
1090 1003
201003 1,25 1005
D)
2002
40
at a record All the assertions about their holding of shorte level for the day after Christ-bizarre undevaluation and about showed far smaller losses than mag helkinys, and brokers who London being the half price the longs. usually take an extra day after morket duly came true and even
stin holiday
be applicable, were back at hny work,
particularly to heavy industry shares. industrials Among
British Oxygun sparted 2s 0d to 85 3d and Nike Investments Goored 3 to 135 6d.
Chemfeals were Grm and Jumpor led to 01s 7d while Fords 2 to 103s Gu.
נזלז
on
The intention announced December 22 (ten to Aty years belated)
the British to revise Trustee Acis so as to enable existing trusts to switch hair into equities is money their cly one of many indications that the equity revolution i
Gold Marter were very Brm, fur from over.
demand and
11 selective
diamonds also improved while Harder Going
coppers
changed.
were belter where
were
Oils made further headway anxi Shell rose to 149s 3d.
Futrigh bunds quiet with Grecks casing around une-fourth.
Tens and rubbers wre
with higher
Harrisons and Corsfelds strong spot
GAS-- UPI.
Closing Prices
13-1140
£00
Console
at
Giltedgrd Bonda
Transport 35, 1970/ED—
Consols **~~ £48*%.
Conversion 2046.
xd
Loan *Sty", 190pm Funding
Long 17. 1950/09 £14.
Funding Block 3. 1900/2004-
40 1200/90
MILF
Lean
Funding
Savings 32. 1955/65—401-3/10, Say 3, 1960/70-£02!4. Savings 37 1905/75-£70
Banks Bank
Barclay's 70% 31.
Nevertheless, be harder.
the going may
February in Wall Street and mid-March in Londou may at least bring their seasonul technical tests. One of the best bels for a New Year, in which one would not lake tog inany is that investors will not make much money unless they keep carefu
monty watch on the markets.
The storm centre is in the United States, and on the long- the term capital market, not short-term credit market,
Prices of shorts have been [deprovved ani priers of lones
buttressed. Pressure
OF
the shotts has com not only from the Treasury but also from the barks.
scrns
As it
certain they will have to go on expanding their loans by liquidating their investments, they may have to sell Jongs at much heavier loss.
INSURANCER
Union Lombard
SHIITING watermat Wheelock
K Whart.. Dock Frovides
The
went ahead Am. Natwal Gas process
the vigorously in
electronic | Am. Bugar flet. this your Estes which and sensational gains in Borne instances. Several others went them, sharply with down Polaroid
have Anaconda Copper
Asbestos Corp. ven Atlas Cont. Mining Baldwin-Lima-liman,
Baltimore Olsio
fell tnore than $10,Bank of Montreal
Beech Libe Savers Hell Telephone
Deneficial Finance
bendix Aviation Corp. Benguet Cone.
Bellebern Sinet
and there were tosses of $2 to 55 in a sizeable list of others Some of the Industrial bin chips met relling. including General Paper, International Electric, Chrysler, Goodyear, Borden 17 co
and Burrough Add Machine
British Amer. O
Conimble Mrc.
Carbide, Thiokol,
28.20 80
3.90 2700 F 5.30 1075 S
DOCKS, ETC.
143
148
nf which
countries Ordinarily,
Taikoo Dock
394 394
5719 50 2000 37 3715 17.10
100 or 17.40 177
2200 17.30 500 17.20 200 394
Un/ch Alcoa,
Steel did
LAND, ETC. *LK.
Hotel 534 335 1000 6 33% HK, Land. 342 30.73 23.40 20.70 Hanphreys
1.429 1.45 10300 1.45 Realty
RUDDER Amaig.
3.75
€ 3000
3.85
Trust
8.75
This is the point Britain and other may affected. correction of a distortion which has been confined to New York should not affect London 01 other markets where the yield pattern is more normal.
Indeed, to meet New York half way, the opposite trends short rise in London ... yields and a fali in longs would be more logical and are not impossible. But the British banks also have to finance some expansion of advances, and no more than the American banks can they sell the shorts that They they have sold already.
selective are becoming more
advances in the
upsurge of because they have been told to, and because their fall-liquidity ratios make them want to.
The demand for bank credit may, falio out and with the dollar so over-valued,
London of may also have
accesa
knowing money from abroad, of no better hole. But the odds
Fin
As the bond ceiling frustrated Treasury Issues of bonds, it and to Issue shorts, Perhaps are that the supply of bank though much | credit will fatten out faster and more important "A" 146 ord less publicised, the American that this winter will be chillier banks, having to raise money than was the summer or golden
loans, their to expond
sold autumn-China Moil Special,
Chartered Bank-36% 9.
longkong-
Union
5-15/18
LhAuraner
Insurance
Aircraft and Motors
Canton!
Brits Motor Corp. Ord=264,
De Havilland Aircraft-27.
Ford Motor Co—100%_41⁄4%d,
Hawker Biddeley Group Ord-
205.
J2
Rates Ltd "A"-Ile 254.
Sizndard Triumph International
Breweries
Di tillers Ch-2£x 148 xo.
Buliding and Materials
Amuciated Poland Cement-14%
764
Pinchlo Johnson Asociates Ord-
Vickers Lad-37m 2014.
29
Coal, Steel and Engineering Babcock &
WEçox
LIG-478
4/5d.
07% 34
d.
Food and Tubaceu
FURTHER EXPANSION
OF AMERICA'S
ECONOMY PREDICTED
New York, Dec. 28.
British American Tob. Co., Ltd- Fifteen leading United States economists predicted
Inperta! Tobacco Co.. Lid-s
Miscellanous Boardman Marder. Lid—us 734d. British
Ltd. Ord-851
od.
tyxygen
Canadian Paciße Rly-$48K, Dunlop Rubber Co. 275 101¿d, Hongkong China Gas- £35. Imperial Chemical—81 70. Jyon & Co-0.
Unilever Ltd-144s d..
Paper
Bowater Paper Corp Ord-75B
Radio and Electrical
Electrical & Musical-548 Dd. Enghien, Electric Co-51. General Electre 43% 3d.
Shipping
Indo-China Steam Nav. Co. def ord-118 64.
P&O Steam Navigation def ord - 100
30.
BLOTCE
Great Universal Stores "A"-61%
Marks & Spencer Lid-751 d. Woolworth F. W. & Co-o
Textiles
Conte 3 & P Ltd 344. Courtaulds Led-GTE pd.
Mines
Anglo-American Corp of
Africa-2108
South
Con Goldflektis of South Afɣter-
90x 10%.
Cona. Zing Corp. Ord-70s Art,
De Beers def-1891 94.
Hongkong Tin--G# 43jd.
Southern Kinta Cena LAG-300.
J
A. Tawah Sungala
UTILITIES Tram. Star Ferry Youmuti
* དྷཱུ
200 * 2015
1000 3.33
G50 8000 w 6.80 3000 0.50 1000 or 6.
Boeing Airplane
British Columbia Per. other caur. Packing Corp
Krups. They registered gains Cina. Bx of Comen. running to
beller than
more than $1
after
Canadian Pacife R
a Campbell Soup Co.
Case (J. I.Y CO.
Cas
Tractor
Celanese Corp.
fell share. Motors show of firmness and American
was hardest hit. Oils generally. 1. Financial Corp. held in a narrow nieR.
DRUBBING
electronics
Recently issues took a
strong
severe drübbing.
Jost $11.25 because announced
Ampex which Thursday
ก
General
леж
Citeit Peabody
Colombian Carbon Co.
Commercial Credit
molidated Econ Consumer Ca Continental Out of Del. Como Imperial Aut Cuban Amer. Sutar Diamond Alkali
Diamond Gard Dislilers-Seagrami Douglas Alteraft tape
recording new Chemical method, dropped. $11.75 today
electroale
4.90
2000 0.90 2500 4.50
3.13
32.75
100 23
Electric
137 12 130
200 129
1200 kr 19.80
2013 19.BU
2503
2500 25.40 10000
23.Jo 241
2300 ų 24.2
32
132 +1
C. Light XD 18.70 19.8G
Becirle 25.40 2012
Electric New 24.10.
1430 Macao E...
Telephine 31.75
ཝཱ, ཙྪཾ
30
2303 304
50 21.40
INDUSTRIALS Cement
39 3019
STORES, ETC Dalry
221.0
600
21.40
300
200
20.30 271
3000 1 2024
1400 6 21.00
1050 $27.20
1.20
Watron
Dupont de Nemours
before meeting incagre support Eastern Air Luw
Ampex featured
the market in
Volume after a kate vening ur: 5,300 shares.
General Time fell $8 at its low and recovered onima · small amount. Texts Jastruments, no Issue which mounted from $61.25 to $193.50 earlier in 1959, fell more than $5. Losses run-
mg to more than $2 appeared 21.30 in Collins Radio, Zenith, Litton, 21.42 and Emerson Electric.
Lone. Craw.
COTTONS Textiles...
9.30 2003 9.20 2000 ( 9.20 Nanyang... 14 14.0 1000 13.00
MISCELLANEOUS Vibro ...... 15
2000 13.50
7000 2014 1023 14 1000 16
In
INVESTMENTS Allied**!!
5.45 5.00
$40 1000
539
200
1.K. & F.Z. Invest.
12,50
Exchange Rates
Some other recent glamour spoty outside
the
Eartman Kodak ..
El Faro Natural Gar Family Finance Corp. Firezione Tyre & Rubber
Fitt Hat City Bank Ford Motor
Georgia Pacific General Electric General Foude... General Dynamics General Motors Gen. Tyre & Rubber Goodrich (B. 7.) Co. Goodyear Tyre.
Grumman Aircraft Gulf Oil
Haimond Organ
leyden Newport Corp. Hiram Walker.... electronics Homertake Mining Co.
Hunan Refrig. also met selling. including idaho Power Universal Match, Mortel, U.S. Imperial Out Freight and U.S. Gypsum,
Elsewhere the net changes generally ruled small. Trading was more active in the market as a whole-UPI.
Closing Prices
Ablubi PWT, & Paper
Alden Inc. Any.
ta' Business Machines Int Harvest inti Tel à T Indred Steel Co
Interchemical Corp. International Nicket International Paper John Manville Co. Kaiser Industries
Hennecait Copper
Kimberly Clark
# 30% Eiggett Myers Ted, Co,
Will Double
By Year 2000
London, Dec. 28.
The world's population will double in 40 years, if
the present rate of increase continues.
Dr C. P. Blacker, adviser on population to Britain's Ministry
for Health, told a meeting of wo- this men public health officers
today.
Japan hatt eleved the "near miracle" of halving her birth rate in the last 10 years, from about 34 per 1,000 to about 17 iper 1,000. But i had been done 2014 in a manner highly repugnant to #1 fræmy people, by legalised abor- 1314 tom.
BA
In 15 Years
1711
391
07190
Asked
35
231
71
thought oral if he contraception would come intu general use. Dr Blicker said: "I teet tolerably sure that in
may be 1bout 35 years
possible to
buy something
8715 take by mouth." 13ritain's
37
53
545
34
201
012
to
W27
In
population "Jogging along ermfortably,"
slow Επειτα with
П
population.
But the United Nations had had to revise world estimates
China when completely nounced
population a than 100 million higher than Expected.-Neuter.
an- more
Trapeze Artist Fell 40 Feet
Mexico City, Dec. 28.
Bulgaria Accuses
Egyptian Students
Vienna, Dec. 28. Several Egyption students studying in Sofia, capital of Bulgario, have been engaging in violent brawls and attacks on Bulgarian Police, the official Bal- garian news agency B.T.A. claimed on Monday. B.T.A. accused some of the of sudcats from the U.A.R.
which is incom- "hooliganismT patible with the hospitality ne
orded them in our country and -reprezenta a gross violation of public order and peace."
nidad: official agency erte competent Bulgarian au-
The
thorities have taken the neces sary
measures to prevent re-
100 Margarita Candillo De Wal- currence of such incidents in
FOREIGN REPORTS
281
landa, 32, circus trapeze
the future."
138
RJ,
artist, FYILS in serious condition in a
30
103
4576
70%
feel on ment after
The agency
made the stato- foreign reports of disorders. Some of these
ports claimed fighting had cc- curred in Sofia "Between Com- munist and Nationalist students Irom the D.A.R.
hospital here today after a fall of
40 more than Sunday while performing before 2,000 persons at the "Imperial" Circus. Mrs Wollonda, member of a German troupe billed as "The Wallanda Brothers," dropped close to the front rows of spectators, many of whom left ports about organised beatings the arena after the mishap.
among Arab students attending Attending physics sald | Bulgarian universities. These re- 473% both legs were fractured and poris contain arbitrary inter-
the 120%
spine severely injured. | prelations which give an unfair 42 They said she would probably presentation of what actually 100% have to give up her professional | happened."
42°
2
30
2012
231
40:
437
Lily Tulip
57P
Algoma Steel Corp.
3
Lition Ind
0412
Allied Chemnichla
115
Lekheed Aircraft
31
Alled Mills Inc.
Loewe LicoIPA. ...........
31
Allis Chalmer
1342
Lone Star Cament Co.
Am. Brake Shoe
50%
Lowenstein & Sons.
Are. Cable & Radio Corp.
13
McDermott J. Ray
19
402%
American Airline
24%
McDonnell Aircraft
JZ
American Cyanamid
572%
Meeabl Iron Corp.
30
American Metal
ZAY
Mensanto Chemical Co.
American Bmelting
$3
Minnesota Mining
171
D.GA
15.80
Amer. & Forgn, Power American Tel
Mission Development
2016
Tri
Indonesian rupiah (per 100)
12.30
American Tou.
1076
76% Montgomery Ward Motorola Inc.
2.10
Am. Car & Electric
20.03
Am Home Prod. ...
1.81 Am. Mach. Se
dry.
40
Business was done In the local
exchange market morning at the following rates:--
unmetal
US dollars (per (1)
a continued expansion of the American eco- nomy throughout 1960 and an increase in the notes (per £1) country's Gross National Product to $515,000 million by the end of the next year.
of
The current annual rate of the Gross National Product $480,000 million to 3485.000 million was expected to rise by five per cent by mid-1960 to $505,000 million.
It would then continue to rise, but at a slower rate, during the second half of next year.
These predictions were made by the Economic Forum of the National Industrial Conference bco- Hoard made up of 15 top nomists in US. business and industry.
The Forum said in an end-of- the-year report that its prodie- tions were based on an assump- there would be po the Interruption in
tion that
further
nation's steel supplies.
STABILITY
Sufontela Goldming-30 Dproval in the coming year and
Unien Carp220 4168.
Yesterday's Closing
Australian notes (per 41)
Biam icale (per 100) Singapore Straits)
COMMODITY PRICES
SUGAR
NEW YORK
Closing prices all in cents per lb.:
3.00-3.00-2998
3.00-3.03-3.03
3.11-3.1.11
COTTON
'NEW YORK
Closing prices all in cents per
jb.:
May: 3333; July: 33.15: Oect: 31.18: Dec: 31.18; 35me: 3141; May: 3141. LIVERPOOL
Closing prices all in pence per R.:
American Contract Dec/Jan: 23.40: March/Aprf?: 3.25-3.25-3.258 21.00: May/June: 23.45; July/Aug: 22.40 Oct/Nov 22.38: Dec/Jon!
Padaling
This E.
Hand 100 x4.
The Forum, predicted that relative price stability would
(Contract No. 4 (world)
Jan.
Mac.
xd.
the consumer pice (coat of
May
July.
3.26-3.38-3.155
West
201 3d xd.
Driefontein Goldminton-iving) would go up about one
Sept
3.16-3.19-3,12b
Oct.
318-3.18-3.1EU
per cent.
Mar.
OW
cat-572 19154.
Brit Peupleum
1850
It nose by 1.4 per cent
in
Iw Sigar Spot 605. World Raw 207.
ber,
Dd.
Burne-49
Blar.
May July
British Borneo Petroleum Syndi-
Shell Transport &
3d-Reuter.
Co. Ltd-
Contract No. 0 (damesile)
23.00.
Mixed Contract
Dec/Jan:
23.00;
March/April 5.54-552-8.52
23 50: May/June: 23.06: July/Aug: 8.50-6.38-5.Bab 23.85; Oct/Now: 22.75; Dec/pri 5.00-3.75-5.75-8.736 | 23.70-UPL
AP
47 National Biscuit Co. 1724 National Cash Beg. "^
National Dairy Prod
National Lead
National Blect Corp. New York Central Noranda Mines Ltd. Norfolk & Western By North Amer. Aviation Northwest Airlines Olin Mathieson Otis Elevators Owen-Illinois Glass Oxford Paper Co, Pacific Gas & Elec. Paramount Pictures
cancer-UPL
Police Dispatched
San Jose, Costa Rica, Dec, 28.
Costa Rica's Government on Monday flew 100 Police to the banana port of Golfto where employees of the United Fruit 84% Company are on strike.
The dispatch of Police fol-
wrekend lowed
riuting by Headquarters 181xd strikers. 'Police
the disturbances weren't *ald 48% serious but that reinforcements
3511
07
"some
B.T.A. rad
foreign newspapers recently carried re-
B.T.A. said that on December
18 two students named Moham- med Valid Takhan and Mcham- med Rald Bagdall assaulted, a student named Kamel Balim Fata in front of a student can- leen in Sofia, inflicting severe Injuries.
A Bulgarian foliceman tried to stop the fight, but also was attacked by Takhan
The next night there were other Incidents and Takhan wis involved again, It said, Poilee then cracked down
were sent as a precaution with counter-action and ouster
1080
2024
95 AP.
47%
26
(Com.)
2014
521
103
655
4314
Pan American Airways
28
12233
0322
334-33% Pitney Bowes
7914
Procter & Gamble Co. Publicker Industries
Pure o...
Penn, Salt Co.
Penny J. C, Co. Philip Morris
331-33% Pittsburgh Plate Glam
Jan, Feb.
Estate crepe thin Jan, thick Jan. AMSTERDAM
20%
per kilogram, eli Jan;
No. 1 rubber
328
No. z rubber
No. 3 rubber No.
crep
FOREIGN EXCHANGE
Troncti
(The)
Southern Railway (Cont.)
threats--AP.
A British Crossword Puzzle
30%
12
15
ва
KUBBER
Radio Corp. Pref.
Radio Corporation Baytheon
Closing prices all in guilders Republic Bleel
NEW YORK
Closing rates
Heynolds Mini
Royal Bank of Canada nm-ears, Roebuck & Co. 337 Dom.
Shell Ou Co. Safeway Stores 4.00 nom. Satot teg. Paper
-UTI.
ing.
Canada in NY (freo) .. 205.00
Europe;
Great Britain (pound)
Great Britain -
20-day FAMOS
- Dubste
SINGAPORE
Closing prices all in Strnita Iowa cenis per b. t.o.b. Malayon
Blanket ompe
No.1 pile 'kraper
Bettlement" house, terit;
April/June
July/Seat
3,7006
3.0011
2.0024
30000
Behenper
Soott
Sinclair Oi
Smith, Kune à 1
Bocony Mobil "ou
Solar Airetaž
South Puerto Nico Sugat Southern Co.
Southern Natural · Ġes
Standard Brands
Standard 015 et Cal. Sladdard Oli of fnd. Standard Oil of N.J. Steel Co. of Canada Steep Rock ・・
Barling Drug Co. Bolonky-Var Champ, Stone & Webster
Bladebexer-Packard Corp. Sunshine_Milnteg Swift & Co.
Tee Co.
Texton D.
| Thickeni · Cha
Tide Water Qil Time Inc.****
Traders Franca
Tri-cant
Warrenta
Twentieth Century Fox Fil
Union Carbide
Union Oil of Cal
00-day futures
Belgium
STENCO GETTINYY
23.9036
118-110 110-12012 DE 115-11
Italy
Ewedon Bwiperband (ITOD).
1525
200
$3.18
Unian Pacife Hallway
Argentine
1.31
United Aircraft
Vattack Fruit
11835-1104
Mexico
United Gas Cord.
Venezuela
114-115 132-134
Hangsoong
U.S. Gype/I
-AR.
U.B. Rubber
LONDON Closing rates:
York
U.S. Steal
U.S. Foil
B
U.8. Belting
| 18% Bungi 7 P.C., FF
Warner Bros..
Waskitse Motori
4076
'ACROSS
1 Minty freud (8).
4 Shoulder a liability (5).
7 Somerset man nice enough to
ent? (4, 4).
6 Painter or writer (5).
0 Specially selected stock? (6).
11 Unaffected (7).
13 Material (7).
35% 15 Twin dogs in the AA. (6). -
18 Beat it! (5).
519 One of Old Nick's workmen?
(4, 4).
20 Cultivation (5).
21 Markoval (8).
23
DOWN
1 Cricket knight (5).
2 Kind of teu (5).
3 Hair dye ends this place of
torment (7)...
4 I'm above
taxation (8):
A
shion in
5 It's just nonsense to applaud
a returned part (8),
Little brook- (0).
10 Tenant ilst (8),
12 Vessel for holy oil (7)...
13 Engine Abling. (8),
14 James of Scotland (0).
18 Mohammedan leader (8)."
17 Vehicles for advertisersť : (4).
- YESTERDAY'S CROSSWORD Aorde: 1 Glee, 4 Grounds,
8 Blue, B Lamb, 10 Spiders 11 Iota, 19 Tern, 14 Bilance, 17 AD-a, 19 Inure, 22 List Iap, 20 Use, 27 Bald, 38 Assizes, 29 Gape, 30 Stye, 31 Im-men-je, 37.8pry. Down: 2 Loaned,, 3 Ebbing 4 Cis, 5 Repair, Undum, 7 Doric, 12 Tall, 13: Rapis 13 N-08 (Rising Bun), 16 Bwes, 18 Caress 20 Nudges, II Kongue, 29 Aanran, 24 Tripe, 13 Partó,
Mr
up to the end at Novern-
said it ex- The Forum also Trading-140 pected "a substantial advance" in plant and equipment spend- ing and a cluser approach to full employment.
One member of the Forum, George P. Hitchings,
of Manager
Economie the
Qi the Analysis Department Ford Motor Company, predicted that about even million curs Tala would be sold in 1060. would compare with the 1859 figure of about 0,100,000 and is about ten per
bent above nomal car sales levels,
Rubber MarketTM
Singapore, Dec. 26. overseas advice disa With
pointtag the market
* Fortune Magazine, a leading Unsubstantision United States business publica uncertain.
of Russian market TUMOULIE
tion, was similarly opinistic operations
fariber unsettled
economic. pare- dealers and with Federation about U.S. liquidation the price eased fuspects in the coming year.. thin dealings.
afternoon market
The culet with
METALS
14.
Lead
NEW YORK Civakog prices, all in cents per
Dec.
porus:
No. 1 Jan
12.14
11.00
Feb.
11.09
No. 2 Jan.
tina Des.
Copper Das.
Just
36.58-60 No. 4
3394-90 Spol rubber, unbeled
LONDON Closing prices all in poten
LONDON It predicted that the Groes
Closing prices, all in sterling National Product would resch $513,000 million by the end of per long ton.
Bayern Bellera per lb.:00 turnover restricted.: 1900 und”, continue “ring to Tin spot
Too No. Lowers were quiet,
$525,000 million by the middle most
Copper spot In London, the rubber maticnt of 1981;" was uncertain, with spot quoted: The matriethe mid economie || Emo 204 Ház
iripiridon, "would slow down by
Klond half 1982; "ZARD RAN
at 81% pence per pound,"
In Amsterdam, the rubber. market was chall LOGRY.=+UPI.