Page 2.
U.S.
THE CHINA MAIL, THURSDAY, DECEMBER 81, 1959..
STEEL
INDUSTRY
Output Expected HONGKONG New York Market London
To Rise
Despite Strike
New York, Dec. 30.
STOCK EXCHANGE
1-
Our Own Correspondant
Business done at the Hong-
The U.S. steel industry, despite the 116- kong Stock Exchange this day strike is expected to produce morning amounted to approxi- 92,000,000 tons of ingots and stoolmately $1,812,000. Noon quota- for castings this year - an increase actions: of 7,000,000 tons over 1958, according to the
Institute.
For 1960-1
(4.2-output is
American
being
tons and the morning's tran-
Buyers Sellers Nales
נימ! if
Shares BANKS KK Bank
Iron and Steel Fast Avia
1225 179
2112
INSURANCES
.....
Bu
20.30
30 - 23 100 93 103 30
Whey lack
.
603 12000 +$
DOCKS. ETC. K. Wharl Dek Providen
145
100 143
Bay
170 17 40
17.30
Lo
Lumbre SHIPING Despite high level raw steel Waterbout things
exported to output and belfer than experteel rach a new historic high ex-finished steel shipments, up- mther les for consumers are condoz 120.400,000 tons, agzingl
117,000,000 much on a hand to mouth basis, The 1955 rak of
As according to trade reports. tous.
hitherto, flat rolled products are an tight supply and most of the current pressure emenics
Text
Ahme dine other in- dusty comes predict that total faired steel conamption you will tie to a new peak of 53,080.000 tonn from tons in 1959, and the former high
Trukou....
1 Hotel
Land
$1 17:1) car makers. appliance LAND, ETC. 50,000,000 nufacturers, can companies, fabricators. shipping container wxd makers of otflee Aurniture and equipment.
of 115,000,000 tons in 1959. This
bel on the
low atte
nt
of
the: for
centar inventories
fon ble business outlook
ms stel niers.
141
The
Supplics
found effo:
steel
Christmas work steel was redoblig
obtain supplies because of fears of another work steppage after January 20, the expiry of:
80-day back-to- the current work
injum:Lion In a drive to help listy demands furmars this week will effect only a small decline in apera-
the holiday tions
estimated
At The
93.1 2,633,000 tons-equal to
Actuali cen of capacity. per output lart week was 2,726,000 the all-time peak tons against ar 2,332,000 tons equal to 961 per cent of capacity-in preceding week.
because of mi
have
the
Fateral mediatory
FC- sumed talks with both ddes in o steel dispute irul Govern- Indiested they ment
sources
expected little progress to result from this week's sessions. The Steel Union has arranged com- pany by company assions but a spokesman for management doubted they would have any proxluclive use. The deel.com- panies will present to the Pre Fidtnial Fact-finding Board at its open ressions next week the
Reports noleate that tainer companies are concerned about their 1960 enn supply and packing requirements in view of the possibility of a renewed of Fagerness steel walkout. comuners to obtain tia plate s reflected in the fact that most mill backlogs, based on H orders tentatively accepted, run thoughout the siret quarters of instances, i somme 1960 and threagh the second quarter. Some mill faclities are fn 20-turn week leaving only one 1 for maintenance and re- patrs.
Tin Plate
Humphreys
2 9999
24301
100037.20 1000
100 or 3025 1050 / 39,75
20.75
URO 21.40 1500
Really. 1.43 1475
C. Light
400 30.7% 200 38.75
0000 4 1.45 1000043
4.20 5000 L 4.15 1000 4.70 1.70 56.76
Continues To Register Gains
New York, Dec. 30. Stocks extended yesterday's gains In moderately
active trading today.
Traders
interpreted yester day's advance, the Arst signi- neant rise in more than a week,
Beech Life, Savers
Bell Telepho
Benguet Cone.
Bethlehem Steel
as the beginning of the year-end | Brits Amer. Oll rally.
However, if the indus-British Colenbla Pw.
Cama. Ble, of Comm. trial stock overnge la to poke
Сапа. Влеч through the peak, it has only | Canadian Padine R. today and tomorrow to do so.
recent Steel Ruer, dull in
pote good sessions, showed gaina, Lakers added nearly two, arat Bethlehem, Youngstown and U.S. Steel. around a half or more.
Electronics continued strong with Motorola up more than Litton up nearly three. two. Collins Radlo up around two and General Time broke $3,15.
Chan Mantrat. Bank Chrysler_Motors Colgate-Pahoolive Co. Commercial Credit Consolidated on Consolidated Paper Consunters Coe Como Imperial Crane C
Cuban Amer. Sugar Distlers-SeaRŞŞURITIA Deminton Storen
35 22 341332
Today's volume was 3,880,000 International Nickel
Of a total 1,220 issues traded,
300 32.25 710 wore higher and 348 lower.
500 32.25
American Exchange volume
Int'l Tel & Tel
Luy Tulip
Lone Star Cement Co
Watson
21.80
Oils Elevators
1000 21.60 Dew-Janes closing averages Face Guy & Elec.
4
4
1
643
30
20
1:01
404
571
241%
16%
Closes
Firm
London Dec. 30.
markets Prices in stock
bolled over in some direc- tions this afternoon after further broad advance this morning. Profit.
11
taking caused some prices
to close below the best although fresh
gains were in the majority on Steel shares were the chief targets of profit-taking.
the day.
By contrast gilt-edged securi- ties continued their recovery on small buying in a thin market 323) and closed with fresh zalna ranging to 11/16 in War Loan Foreign 3 percents of 643%. band and ceils were neglected. Dollar stocks were mixed.
50%
GAINS
Banking shares generally held hire- the'r recint gains while purchase finance and tugurance bere made further headway.
A long string of gains was still on record in the industrial early dealings to firmness in 41 Bnish with all losses In many reacted Sicel shares
100%
cates.
World Shipping Recession Cuts Building Orders
New York, Dec. 30.
THE worldwide shipping recession is cutting deeply into shipbuilding orders throughout the world, the Shipbuilders Council of America reports.
As a result, the Council sale. find their repair yards ship outlook for from bright prospects for improvement shipbuliding next ycar presently termed dim.
and
in
Big
are
the
The Counell noted that situation in the United States is particularly neute. Although orders for 10 merchant vessels of 190,000. gross tons were placed in US. shipyards in the Arsl
11 months of this year,
tons.
The
only
total
As of December 1 this year,
sharply and losses ranged to over wo shillings. Stores also fell and there were a number of loses elsewhere. Shipbuild-there were alx vessels of 97,800 ing and shipping shares tinued in strong demand white heavy electric, breweries and tobaccos made fresh headway.
Lon-
RUBER Ameli Trist A. Tawah Pingeln. UTILITIES
Dupont de Nemours
264
4.10
Eastman Kodak
101
Ford Motor Co. of Canя.
G
Georgia Pacine
400
3
General Fectric
3.
General Tucs
165
Train
27.13
34
500 33.73
American Motors tacked
02
Central Motors
$4
500 33.73
more than a point in the autos
Cilddan Co..
45
Star Ferry
139
where
Younali
120
130
1500 150
300 129
Chrylser Armed General Molors cased!.
and
Goodyear Tyre
Heyden Newport Corp.
Min-
Hiram Walker
34
BOG 130
nerota
Mining added
around
Husman Refrig.
202;
Imperiat OQU
3
18 19 20
4500 m 1930
three and International
Paper
Imperial Tobacco
1000 of 1983
1800
19.7more than two,
Ingersoll-Rand
In Business Machines
4755 4391.
2300 10.70
Int'l Harvester.
Fectric
2512500
170 25 69
3300 4 23.CO
Mac
}: w
E
24.20 24.40
10002430
shares
Kana C. Power & Light
1000 24.20
Kennecott Copper
$1.30
Tel.
Lockheed Aircraft
Loews Incorp.
31
291
INDUSTRIALS
100 39 Comment
301 391,
1500 + 3915 STORES, ETC. Dalry ... 21 21.70 4500 21.50 1000 CY 21.50 1750 + 21.00
Montgomery Ward
was 2,130,000 shares.
National Cash Reg. "A"
National Lead
107
Bonds volume amounted $7,590,000 chares.
10
New York Central
28%
Neranda Mines Ltd.
47
Ofis Mathieson
300 21
500 12
were:
Pan American Airways Teramount Pictures Parke Davia Co.
227
240 27
10 kutua
670.97 Penn. Salt Co.
L. Craw.
27 27.40
500 67 27.30 20
TA
104.02
Pitney Bowat
47%
CUTTONS Textil Nanyan
15
uutis
20 9.25 1000 49:26 1410 14.30 3000 14.10
1000 14.10 2000 g 14.20 --
210.81
40
bondi
aytheon
87.35adio Corporation
Poborgh Plate Glass
са
01%
747
Ca Fature price index
149 01
leynolda Metal
704
Royal Bank of Canade
70%
MISCELLANEOUS
Achenley Inc.
13.30
Sinclair Oil
Socony Moll O
were firm UPI.
Standard Branda
0.70
Standard C of Cal
50%
$39%
Standard Oll of Ind.
4434
Algoma Steel Corp.
301
Blandard Oil of N.J.
114
Steep Rock
34
Stone & Webster
American Airline
241
American Cable
Radio
Swift & Co
Studebaker-Packard Corp.
0074
4044
Amer. Forgn, Power
Texas Co
American Metal
2:54
Traders Finance
375.
Am. Natury) Gas
3812
Union Carbide
140
CA
Anerican Snelling
6316
Union Pacific Hallway
United Aircraft
401
American Tel Tel
American Tob
107
US. FOH
B
4522
Anaconda Copper Armed Steel Armour
ESTE
U.S. Gyprum
Funding Loan
US. Rubber
76
8742 2.93-0/18.
U.S. Synelting
2014
20
42
158.5
Gd
Demand for emled eletroly- tie in plate is strongly on the increase and is expected to go up further during the coming year. Exxort interest has been Eucre or less retipsed by domes the denvand but rome producers are still hoping to mantain semblance of past pattems in their export shipments.
Shipment of fron
Alted
ore down VITO the Great Lakes is just about INVESTMENTS
movement Int at an end but the lasted longer this year than umal. Morcover, some quar- are supply this trs say iron winter may not be the serious problem originally foreseen.
B.20 3.40
400 17.30
Agreed Merchant Rates
Scrap tries; surged in SOTNE US. Dollars, Maximum Sell- "last" offer made to the Union centred the past week Mil? de- in 17%; Minimum Buying 17% In November. This is the offer jinand lacked verve redeeling T/T, 17-11/10 O/D, 173⁄4 30
the en which workers will vote in continued uncertainty over days. 17-13/16 60 days, 17-15/16 January under Tuft-Hartley jateri labour agreement. Export | po days. Act procedure If there is no demand was alo unimpressive. Swiss Franes, Moximum Sell- agreement by then.
that F 1980, prospects arc Japan may take less tonnage but European markels may take
NOTICE TO CONSIGNEES mr-Ching Mull Special.
Consigneed per
CIE. DES MESSAGERIES
MARITIMEN
#. "CAMBODGE“
Arrived on 28 December, 1959
FROM MARSEILLES
are berby noted that their cargo has been discharged into the X100g Kong & Kowloon Whart & Godown Co, Ltd's Godown where, it will be
at Configneer Risk and
to
the Whari's terms and condle of
storage and where delivery may be ubiained.
Damaged packages are to be left
in the godown for examination by
Expected Rise
In U.S.
Labour Costs
New York, Dec. 30.
cons mees and the Company's Sur Business Week Bays labour
Vejore, Messrs. Wood & Browne at
10 m, on Saturday, 2nd January, 1962.
No Claims will be admitted after the goods have left the godown and all goods remaining undelivered after the 4th January, 1960, wilt be subject to rent.
All claims against the vessel must
be presented to the undersigned on or before the 27th January, 1969, or they may not be recognised.
No Fire Insurance will be effected.
MESSAGERIES MARITIMES
Hong Kong, 3rt December, 1039,
NOTICE OF CONSIGNEES
"EUMAEUS"
Draged cargo ex this vessel will be surveyed by Mears. Wood &
from 19 Brine Holt's Wharf * January 4 and 5, 1000 and are requested to have their representatives present during the survey,
consigndes
BUTTERFIELD & SWIRE.
Agextr
Hong Kong, December 30, 1950.
costs next year will con- tinue to rise as sharply as this year and strikes will probably be a problem.
Labour disputes threaten number of major Industries next year, the magazine says, Besides the steel and railroad industries, the real danger lies in the missile-aircraft Industry and in electrical
manufacturing-both defence industries. Bargaining. is also coming up in the cloth- ing and telephone industries,
several million
now
20
ing 75.
West German Deutschematics, Maximum Selling 724.
1b.:
Yesterday's Closing
Closing Prices
Abitib! Pwr. &_Paper
Allied Chemicals
Allis Chalmers
Asbestos Corp. Atlas Cons Mining Haltimore & Ohio
Bank of Montreal
BO.82
נמף
epublic Steel
34 S. Steel
Warner Bros.
Westinghouse Electric
M
50
10
29 Woolworth K. W.... 5041
-UPI
COMMODITY PRICES
SUGAR
NEW YORK
Closing prices ail in cents per
Contract No. 4 (world). Jan: 304; Mar: 3.12; May: 10: July: 3.18: Sept: 320; Oct: Jen: 327: Mar: 3.28; Sput-.o.b. Cuba); 3.08: Total Sales: 197 contract; Opea interest: 9,039 contract.
Contract No. 4 (domestic) Mar: 553; May: 5.57; July: 5.68: Sept: 5.75; 3pet-icit. N.. ex- duty): 8.30 Total Sales: 21 contracts; Open Interest: 1,414 contracts—UPI
COTTON
NEW YORK
July/Aug Oct/UUV. Dec/Jan.
March/Aprit
соп
The Kaffir market was very firm Indeed on renowed buy- ing of finance house shares and a short selected free staters in market.
Olls continued their revent U.S. dvance couraged by forecasts of higher earnings in
1900. Shell rose 85.
Rubbers
Closing Prices
fledged Bonds
Oil Tanker Launched
TIHE
THE
oil tanker Ellenga, 37.000 tons d.w.. built for the British India Steam Navigation Company
3
these orders have not been suf- was launched recently on Acient to offset the ships de- the River Tyna,
She is the second of livered during that period, the
class of
with three tankers buliding Counel said.
the Wallsend Yard, and win As of December 1, 1958, Car
83 vessels commence order book showed
service next year British with a total gross
l tonnage under charger to the 1,710.660 or order in the U.S.Petroleum Company.
The vessel is 080 ft. between on December 1 this year,
showed
and has 64 perpendiculars order book verols wÍDL
gTOES breadth, moulded, of 90 ft. The meulded depth to upper deck is tonnage of 1.042,300 a reduction
18 f She has a loaded draughi of 10 vessels et 608,000 grow
of 30 ft. 4 in. and a loaded service speed of 10 knots. Her is about 24,400 gross tonnage ions.
The construction of the ship is on the longitudinal system of longitudinals at framing with the deck, sldes and bottom in conjunction with two longitu- and a single dinal bulkheads deck over the range of the cargo tanks The framing at the ends is all transverse, Welding has been adopted for practically the whole of the steel construction with the exception of the seam of shell plating in way of the turn
sheer of the bilge, the stroke, the gunwale bar and one seam of dock plating, which are riveted.
And for delivery
rosa tons on order schertuled year.
stil
this
With no further contracts ex- the pected before the end of year, the Counell said 1000 may 58 vezscis boxin with only
tons on totaling 944,500 TORS OTGCT-AP.
Experimental
Nylon Propellers
London, Dec. 30.
The propelling machinery will
British Transport 31078/XPERIMENTAL produc-be located aft and oil fuel is EXPERIMENTips propellers to be carried in wing bunkers
Consols 24%-49%.
Consol£72-17/58.
Conversion Loan
3. 100
Funding Loan 3%. 1956/00–£141;. Funding Stock 3, 1999/2004- £7132
made from nylon has started space, in the double bottom be at Lips N.V. in Drunch, one low and in the deep tank at the fore end of the ship. Fresh and of the world's big six pro- feed water is to be stored in manufacturers, the the double bottom tankar, after Financial Times said in on peak and tanks adjacent to the
boiler room, editorial today.
The propellers consist of hand
1960/90-peller
Savings 3. 1955/C5 0114. Savings J 1960/10-282-11/10. Savings. 1965/75-€75.
Danka
Barclay's Bank "A" Ltd ord-68s nylon blades fastened to bronze
Chartered Bank-e dd,
Hongkung-282 cor.
Union
£0-1/10.
Insurance
Insurance
Aircraft and Motors
12415 Motor Corp.
10.
De Havilland
Ford Motor C-1068.
Canton-
KX3-1:0
Aircraft-27%
750,
Group UM-
Hawker Siddeley
201 744.
Hootes Ltd "A"-13# 4490.
Standard Triumph International-
11 101.
Browerin
Distillers Co-32.
Building and Material
There are eleven cargo tanks
subdivided by the two longitu huts and are the result of a dinal bulkheads and one pump Joint research and development room at the after end. The main operation by Lip N.V. and the tanks are bounded at each end plastic division of Germany's) by cofferdams.
The main propelling unit com- Bayer A. G. at Leverkusen.
The report said that unlike prises one sel of geared tur- bronze, nylon was impervious to bines designed to give a service cavitation and highly resistant to power of 16,000 shaft horsepower revolutions per damage by stirred-up grevel in at about 105 shallow waters. which often minute of the propeller, Steam causes havoc with bronze pro- is suppiled at a pressure of 000 |pellers-AFP.
1b, per square inch, and at, a total temperature $1 850 de- grees Fahrenheit—both at super- heater outlet.
Associated Portland Cement-7 PAA Inaugurating
inchin Johnson Associates
LONDON
Closing prices
ell
in pence
Mixed Contract
per 1b.:
154.
23.18
34-3414
--30
23.10
23.45
Jan.
Feb.
22.20
-UPI.
Xary/Jub July/Aug. Oct Nov.
Lire/Jan.
METALS
NEW YORK Closing prices,
all in cents
per ib.:
Lead
Jan
Mar.
Zinc
Экл
Copper
Jan.
Mar.
No. 1 in spot .... Settlement house term:
Jan./Mar.
April/June
30
General markets, c.lf. basis, ports:
July/Sept.
Oct/Ree.
Jan.
Feb.
Estats crepe
thin Jan...
thick Feb.
AMSTERDAM
33-33%
Closing prices all in guilders per kilogram, c.l.f. Jan.
No. 1 rubber
No. 2 rubber
31.00
No. 3 rubber
No. 1 crepb
11.53
1143
3J31
31.07
LONDON Closing prices, all in sterling Closing prices all in cents per per long ton.
Rising labour costs are inevitable in the
year, Business Week stys, since deferred wage increase already negotiated will boost the pay of
workers
1b.:
Spot average of eight cents an hour
March not counting fringe benefits. May Unions not already covered will demand at least this much in bargaining next
The year. eight rents an hour will be a foor under settlements, the magazine predicts,China Mall Special.
WILL YOU SELL IN NORWAY?
Firm of agents, situated in Oslo's best, quarter, wishes. to contact factories, and exporters in Hong Kong for représentation in Norway. Our firm has connections with the country's largest importers in the majority of branches. References can be obtained both in Hong Kong and Norway. Own delivery service. All replies to Ed. Hansen A/S, Prinsensgate 20, Oslo, Norway.
Spot 3-month Copper
spor
HEAL
3.21 buyer
3.24 buyers
3.21 buyern 3.80 buyers -UP!
FOREIGN ENCH ANGE
NEW YORK Closing rates:
Omictsi
30-day
Buyers Sellers
33.15 nom 33.13
-Tin
70031 787
33.30
器
July
53.10
Oct. D&c.
31.12
2014
2373
31,11
3-month
240
Нат May July
BLI
Land/2nd haliTM
Dec.
31.41
7454
243%
Canada
Mar.
7344
Zire 2nd half
Doc.
NEW ORLEANS
1915
Mar.
90%
90-day
Closing prices all in cents per
-UPL
Australia
New Zalaxmi
1.
Spot March
31.15
35.11
May
JulF
33.20
Oct.
31,37
Dec.
·31.12
31.48
MAY
31.75
+
BAO PADLO
All unquoted.
NEW YORK
Bex rubber
turs
Avery price: la UB... si
designated spot mackate: 3180,
To palei 30,GD. BETER.
.. LIVERPOOL ::
Closing prices all in 'pence per
Iba
of American Coulanot
March/April
Miny:/Irathe
RUBBER
closing
South Africa,
Belum
Bwitzerland
Others unchanged.
LONDON
* Closing rates:-
New York Montreal
Amsterdam.
Brammela Copenhaga
Trankfur
Parke
126.50
1.06-7/32
Ord
Coat, Etsel and Engineering Babcock & Whlcox Ltd-48% 40. Vickers Ld-39 04,
Food and Tobaceo British American Tob. Co., 1 Imperial 2015.
Tobacco Co., Ltd---73#
Eiscellanous Boardman Marden Lid-ds. British Oxygen Ltd, Ord-80s. Canadian Picine Rly. Dunlop Rubber Cois Dd. Hongkong China Gas-135, Imperial Chemical-Bla 1150. Lyons & Co. Od. Unilever List-142 136d.
Paper Bowster Paper Corp Ord-16).
Radio and Electrieri Electrical & Musical-54 64, Ceneral Electric458.
Shipping Indo-China Steam Nav. Co. def |ord-äly od.
P&O Eterm Navigation det ord -00 7350.
Blorer
Great Universal Stores "A"-52" Woolworth F. W. & Co-x 41⁄2d.
Textile Conte J&P Ltd-380 4. Courtauld Lid-80s 1016.
Cone Goldfields of Bouth Africa- |965 Tid.
Coon, Zine Corp. Ord-784, De Beers de-10# 10d. Hongkong T3-G#-}}{d? Petaling T-7 434d. Rand 018 30.
Bouthern Kinta
Cond
Lid-30
U.S.-Tokyo Service
New York, Dec. 30.
The gearing which, is of the double helleal type consists of ene main wheel driven by two main pinions which are driven respectively by high power and low power turbines working in series through double reduction
PAN American scaring to this pro-
ways will inaugurate a peller shaft,
At full speed the high power daily jet service between turbine is about 4,450 r.p.m. San Francisco and Tokyo on and that of the low power tur- January 15, Mr Willis G. bine about 3,885 r.p.m...... Lipscomb, the Vice-President in charge of traffic and the double casing type and is wholly impulse, na is also the sales, announced today.
high power astern turbine which The airline currently operates is located inside a
separate four return jet flights a week casing at the forward end of
the West Coast
the high power thead casing.
ar
between Tokyo.
The now schedule, with inter- airliners, will continental jet
The high power turbine is of
provide nonstop fights on, Mon- Turkey To
days and Thursdays from Tokyo
to San Francisco, bringing the
Orient and the West Coast with Build Two Ships
où
in 11 hours and 36 minutes
These flights will cach other. continue on to Los Angeles.
On other days, jet clippers from Tokyo will stop at Hono- lulu arid continue on to San
Francisco-Reuter.
Minion Coppo Colamining Arab Airline
2.79M1
2.8015
FLONGU
2:05
2.7000 78033
00030 2310
2.60-8/10-2,6€ B/1T
随
Wert
оп
British Borneo Petroleum Bynat-,
cate-635 d.
British
Petroleura Co., Ltd- To Buy Comets
"Bumpati=-634.
Stati Trarwport
Dd coreuler.
* 7-15
London, Dec. 30. THE United Arab Republic THE
- Minrate. Airline is to buy
Exchange Rates three British Comse IV Jer oldliners, it was announced
Buses was done in the local today..
|
iu།:
.... Ístombul, Dec. 30... TENDERS for the construc-
tion of two 10,000 fo
passenger ships is understood to be shortly called för By the Turkish_Maritima Bank (Denizcilik Bankas] A.Q.) Jt was reported here. Each
passan-
| ship will be „designed to
accommodate 600, gers for its “Máditerranean services, dayanan.
On the other hand according
to recent statement by Mix
Muzaffer Kurbanoglu,, Turkish Minister of Communicatichis Eplace for othe Bottfrit tip of A The company, sald further bare buiting your qind new morning at the folowing raiMH JAN FE
.......1/5.80 Contracts an advanced shiprepair dockar raw wall
unofficial charge inket
13.5. dollan (per 91)
Starting Todas (per,, di 2
From Monde (per)300)
| Singapore (litrakte)
1049 slate of negotiation ?
12.00
Advanced,, Ha mhic that: tuuleta De Havilland mild the contract for the, prejinsitegy yztroric on climabad two years of negotik-] [hear: ZDERİMULATION) Invited
T