THE CHINA MAIL, TUESDAY, JANUARY 12, 1060.
THE SAHARA OIL THREAT
Rubber Plan to clamp
market tariffs review
Singapore. Junt, 11. The markel opened lower overseas advices and
On
some nervous liquidation. At lower level shortcovering dewand ter January hipment Leverand proved liers withdrew and the inaked closed the morning
ersion at highest level.
trend. As pries, im
In New York. rex rubber closed F points future today higher 34 points tower with Vale
Isi tante Papes 104
יד ; זו:יז
יויו יין!
in Britain
By FREDERICK ELLIS
FRANCE'S £200 million gamble on Sahara oil was running into difficulties recently as the first shipment arrived in Europe.
The Paris Governmir, which dominates the rich nitseld, fours
gut.
cent lo keep the ing 18 per British and Americans out of the Common Market countries, which consune 04,000,000 tons
a year.
Shara tit is expected in #25,000,000 ems by wx:
The Fresh are so keen to to cover corrent year--enterph Fench coumption--and reach win profretion for their all that they are said to be offering C19,800 fors by 1965.
Whi surplus substantial concessions la her T
it
14 Their live directiona
Common Com Market partners.
These it is reparted, Include prixducts, which Gemy, agricuitumal
012 bren I now have and up
sam cew" et French trading
!.
31 uding Mabintelling on bolaren,
activity W26 hardly to undersée a 31. MEN the enve
very, Kypic
Market WI 84 11:
The de port: offering lecamer 14r 44
Helgram # prices we band lernt layer; I price genes, Cylon afferra ngo Los mung keldi Sabra Shoots for petrpt shipment at ek vital fractant at the policles, 35 cent, Malaya offered one ange of Briti and Amuri-
at strolled eit. plan Jan./745, shipmen
terkei
274 cena pund. Indenauda. effend three live's ler January dom of 39 cents and threen for Febasan ipment at 277% ends a pound, rod and fought. Lacally, evrent month Na. swan quoted at 40 ml a ponnd
rubber I Amerdam, market war edy tortay-UP.
Atlanti
Ocean
MORO
M.
: : +יך{
J-Margr
pressing
A myth
London
closes higher
Wall Street
recovery bid
The future pattern lacks
support of an economic
New York, Jan. 11.
Stocks encountered some mild selling today after a
vüguc recovery attempt at the opening.
London, Jan. 11. Buoyant industrials enrried most of the stock market into higher ground today. Steels though. below then best, were Arm as were motors,
Brokers agreed the same fears aircrais, textiles, breweries and ¦ which pulled the inariet lower last week probably were still in electricals.
They noted the present. lower, play. Oils were irregulirly
stocks were quiet, four per cent Federal Reserve Rubber Coppers were dull, Gold issues discount rate, silt out of focus with the government bill rev, s were firm.
now better than ave per cent for the June maturity.
Acurities
were
Gill-edged neglected.
German Issue were fim in the foreign bonds market.
Collars stocks were easier... UPI.
Closing prices
Caltraged hood Dritteli Transport 3. 1077/08--
Colmin 214 £107,
60
Conversion Lorn £64.
Electronics had some Food features. Texas Instruments und interruit'ona) Business Machlaes ativanced around two or better. Zenith added!
thon more point,
Heyden Newport Corsi, Homemaks Mining
Hiram Halker ......
Human Retris Idaho Power Jinperist O umperini Tobacc Ingersoll-itand Interchement Corp. International Paper Johns Manville Co Kaiser Industries
& Myer Tob. Tulip Litton Ind McDermott J. Hay McDonnell Airerast Planet Mining Medon Development Moksons Brewery
Steels declined despite opti-Monsanto Chemical Co. mletic forecosle čí a heavy steel National Bicult Ch.
National Steel Corp produellon pace during the Best Naranda Mimos iad. half of this year. Youngstown Norfolk & Western Ry.
1900-dropped more than one Beth-North Amer, Aviason
Funding Loan 10/05-2043% Funding Block
in
411.
Funding
93-1720.
Bat the oil investment is such Jeanniency, Miniar: 11 Dudastry and Com-fit the balance of pover
this from the fields of France to the more, v her department bres the national economy is shifting
tl +4
deserts of North Africa. Satura
The Jeanneney Plan is opposed *ic t
duty-free establish
Pinay. ques for Beth and American by Finance Minister Antoine Gil:
The Pinay view is that the Armand
protection for
for
Then ent them progressively production ineversez as Nabare
-with a duly eventually reach-Sutera oit would explode ni a
→UK.
DUNRIFX
FRANCE
-SPAIN
GIBRALTAR
ALGERIA
Sahara Desert
HASSI MESSAOUD
OIL FIELDS
ALGIERS
BOUGIE
TUNISIA
(415 MILE PIPELINE
The oil routes-to South, Wost or North France
P&O
R.M.S. "CORFU"
EMBARKATION NOTICE
the
cornerstone of the nry th Common Market the freeing of trade in Europe.
Lean
lehem and Repubile eased and "$179, 190/2004-U.S. Steel, was unchanged.
Savings. 1995/50-£$1-11/10x.
Savings S1000/70-1
Savings 3 trs/JB-C7% x
Barclay's Dank "A" Lid und -62%
Banka
xd.
Chartered Bank--6.
Insurance
Hongkong-C65.
or total 1,267 shares traded,
Union Insurance Canton-£5-11/16.335 were higher and 744 lower, British Mctor Corp.
Aircraft and Motors 228
American
Exchange volume
|| jikythean
kuyal Bank of
Schenley Ine
helicopter service
Opinions differ widely on the future trends of operating costs of fixed-wing aircraft, despite the great volume of commercial statistics available as a basis for inferential forecasting in this Geld. It is, therefore, scarcely surpris. ing that the future pattern of helicopter eronomies is a subject open to personal inter- pretation.
and
The common starting-point | growth will be induced for all forecasts ie thai there aircraft will be required. first-generation hellcepter is, lai Let us suppose that ten mora Concral,
not economically craft are so needed.
Now
of aircraft, prices perable at fares enabling it to
of hellcopters, of especially compete with other form
the male of short-haul
surface very resilive to
initial (x- Production, Large A
ne incurred in desigir, and perses cityging and tooling, and develop-
DNC
centre to city centre service itment, testing and certification, and what may be described as "learning" costs during the barly stages of production. These ex- penses, amounting
Increase in size is a proven
1013
Northwest Airlines (Lam.)
361 ฟาง
Olin Mathieson
50%
Oxford Paper Co.
13/0...
Ford, Chrysler and General Motors Surned lover.
Fake Dach Co,
Ꭲ
Penny J.-C. Co
1291%
fractionally
Penn. Salt Co.
transperi. even
altowing
Pitney tower
2074
premium
for the spečil
Olls. steady.
raily and tyres held
Procter & Gamble Co.
1724
Puburgh Plate Glam
70!
convenience of the direct
Today's volume was 3,470,000 shares.
Radio Corp. Pref.
67
50%
can provide.
Iteynolds Melai Canada'
7'
191
Sears. Rocbark & Co. Burbo
Co.
*H*
Saleway Stures
direct micans of reducing the
nxed-wing operating
costs of aircraft, but this dictum)
docs
anta
Beth, Kline &
French
30.
Southern Co. T
Southern Itailway (Com Step Rock
13
517%
51
59
American Cable &
Fauto Corp
27
American Cyanamid Co Amer. & Forgn. Power
Tri-Cont. Warrants
13
Union Dil of Cal
retrie
49
United Ge Corp.
Ani. Home Prod
172
U.S. Fo "
U.S. Line Co.
781
2014
De Havilland Aircraft -27s 7d. Ford Motor Co-110 d. Hawker Siddeley Group Ord--244
Routes Lid “A”—[7 30%¶., Standard Triumph Interitational--
It would tend in eenfirm fears that the Common Market Is it fuck
proicationist gang-up. оf Елигове. agained the rest
And the other members of the 1 100. Common Market are by 175
meng
Fold on the French plan. Their drelslon may nally rest to the extent of the concessions the French fre prepared 10 make in order to win them over. The French face older prob- In with their new-found all. entirely The crude is not suitable
the Еигорелл market: it has a high petrol content, but the big Europe deinand ta for fuel oil, and use jef Schera crude would tend to
put in costs.
for
make Then the French
"L oll ts strong play that their strategically fer than Middle but rival olimen szy Last oil: that ont: Algerian hustilities end that claim is open to doubt. The two big Government-com- trolled oli ecmpanies are C.F.P. and Repal. About £60,000,000 was spent on the Schurn Jatt year and another £60.000.000 sieted to be rent on pipelines this year.
Exchange rates
Ilus one was done in the onl unofficial exchange market this ning at the following rates:- US dollars (per #1) Sterling notes (per 21)
For UNITED KINGDOM via SINGAPORE, PENANG, Australian notes (per Cli
COLOMBO, BOMRAY, ADEN and PORT SAID,
EMBARKATION: Passengers should embark between!
SAILS:
BAGGAGE:
Indonesian rupiah (per 100} Slam teals (per 1003 Singapore (imita)
8.09
10.08
12.51
20.03
1.83
2.30 and 4.) p.m. on 15th January, Agreed merchant
1960.
rates
Swiss Francs Maximum Sell-
at 5.00 p.m. on 15th January, 1950. ing 75.
&
Should be sent to Hongkong Kowloon Wharf Company's Godown (No. 2 Gate) by 5.00 p.m. on 14th January, 1960.
SUBJECT TO ALTERATION
Announcing the
opening of our Hong Kong Office
January 18, 1950
R. W. Pressprich & Co.
INVESTMENT BANKERS
48 Wall Street, New York
MEMBERS
·
New York Stock Exchange
American Stock Exchange (Assor.)
Midwest Stock Exchange
AMERICAN STOCKS & BONDS
MUTUAL FUNDS
Investment Advice
Portfolio Analysis
Yesterday's Closing
Distigers Co
Drewardes
Buliding and staterials Argociated Portland Comment-ils 104.
Finchin Johnson Aociates Drd- 34.
Coul, Ateel and Engineering Babcock & Wilcox Lid-45 10 Untied Steed—Big B. Vickers Lig–374 1
Food and Tobacco British American Tob. Co., Ltd-
3d.
Imperial Tobacco Co., Ltd--70 Bd.
Miscellaneous
Roetman Marden LUCI-40, BU Britian Oxygen Lid. Ord-#31 90. Canadian Pacife_Bly---448. Dunlop Rubber C6-11
110 chemical 50s 1960.
China Ga-13.
Lyone & Co-ed. Unilever Ltch--135 m.
Paper
Bowater Paper Corp Ord-748 fald.
Radio and Electrion
Associated Electrical-034 pd.
Electrical & Mutter-51 English Eiretrie C-49% 3d. General Electric 45,
od
Ahipping Indo-China Steam Nav, Co. def ordi 32 4140
1 Steam Navigation def ezd-
90
MAST
640724 Great Universal S4-724 Marks & Spencer
Textiles
Coat JP
Courtaulds
4144. Mines Cons Goldfields of South Africa-
Com Zine Corp. Ord-7&# %d. De Beers def-100% Ed. Hongkong Tin-se sorsa.
**Tunnels 1011⁄2d.
ziala Cons Lidl 6. Boutliern Union Corp-808 7140. WER Driefontein 2010.
"Goldmining-
British Borneo Petroleum Byndi-
OL
calo 60% 101.
Brun
454d.
Burmah--33# 150.
Petroleum Co., Ltd-d
Shell Transport & Trading-150x
was 1,410,000 shares.
Bonds $6,510,000.
volume amounted
Closing prices
Ablubi Pwr. & Paper Alden Ing. Acy Allied Mill, _Ine Am Brake Shoe American Afrime
Ain. GA &
Ain, Natural Gas Armes BiceI Asbestos Corp. Atlas Com. Mining Baldwin-Loma-Hun ank at Montreal Beach Life Savers Bell Telephone s
Beneficin Pinence Bendix Aviation Carp.
15: net Cons
Doing Airplane
Borden (The) Co........................ Burroughs Add Machme Tritish Amer. Oli British Columbia Elec. Arish Columbia Pwr. Calit. Parking Corp.
na. Bk, at Conan. Cana, Brewera Campbell Soup Co.
CIT. Fleanelal Corp Chare Manhat. Bank Clucit Peabody Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Consumers Gay Continental Oll of Del. Cormos imperial Mills Crown Zellerhach Diamond Alkali Diamond Gard Distillers-Sengrais Dominion Stores Tuglas Aircraft Kartem Air Line
Fl Paso Natural Gas Firestone Tyre & tubber
Ford Motor ya
Georgia Pacte
General Dynamics
Gen, Tyre & Rubber Gefty Oli
Glidden Co.
Grumman Aircraft
Goodrich (B. F. Co.
Gulf Ol...
Hammond Organ
COMMODITY PRICES
METALS
LONDON
Closing prices, all in sterling per long tor:
Τίπ
Spot 3-month Cupper
Spot
7841 78715
Oct/Nov.
Dec/Jan.
SAO PAULO
(Closing prices all in cruzeiro
-monti
20314 24015 2182%
256%
Leud lat half Jan. April
Apell
7519
2655
Zinc 1st half Jan.
01
90
UPI.
RUBBER
SUGAR
NEW YORK
to Solar Aitera
30
• String Drug Co. Stokely-Van Camp Stone & Webates Setsize Mining Thioket Chen.
112 Traders Finance
STAG
in Thויל
US. Steel ↑ PC. PF Waukeshin Mutors
Westinghouse Air Brake Western Union Tri. Co West Va. Pulp & Paper Waan-Dixie Storer Zenith Radio
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
واحد
2011
45
same
fo
about £350 per poundi (0.453 kilogram) of all-up weight must not seem to apply with quite the
hamortired over the total pro- helicopter.action. force to the
In the above example, Although an increase in scale the fort that the production of bound to have a considerable
the smaller aircraf effect on helleople operating times greater than of the larger corts, it would be a disservice wil be reflected in a relatively in the type to suggest that mere
lower purchase price, because biness will be the panacea for the burden of the initial CX- *all Bs present "commercial penes will be proportionately lees. The sant reasoning applies
shortcomings.
Short-haul working
is there
to power plants. Aircraft prices affect the operater's directly
In any assessment of direct amortisation Srovisions and the fundamental Insurance of the alreraft, as well operating costs, a
30% consideration is 4 utilisation as some of the engineering cost, and they have a strong influence Irvel which the operator is able
5276
5312
4311
110
lo maintain with the particular on the direct operating cnsis. type of streraft under review.
Within
д competitive farys
structure economic Viability JAL facing
depends on the level of fleet 1 A
mean
and utilisation.
applies particularly to scheduleu jet competition
short-haul operallons, whien
are normally subject
fluctuations in trafe
to broad
demane.
'ST
Washington, Jan. 11.
If the short-haul operator of CITATE Department offi-
ts helicopters to provide adequate service over the 24
hours cycle, his fleet
ancials acknowledged to-
capartly
day that Japan Airlines was
difficult problem
will be governed by peak hour: facing a demands. During oak periods, in meeting the jet flight ex- maxinum use mum be made of pansion by Pan American the equipment in order to World Airways.
uchieve
In this But, pending any request of net from the Japanese Government, to total the officials declined to may nyiak wotht the United States not would be prepared to discuss the question at the diplomatic level.
The highest posible fleet mean uilisation. connection, the ratio reverie
flying the Business done at the Hсng-
this operating time (that is, kort
Stock Exchange morning arounted to approxi-lime plus ground time) rately $1,282,000. Noon cardinal Importance.
working, this On short-haul morning's- qualuxions hd the
relationship is especially sensi- fransactions:
A Washington epokitsman for Sales tive to changes In ground time.
On a dense network of short- Pen American World Airways! 20 1180
haul routes, which is the vest declined to make any immediate 301187
foreseeable operational environ-comment on reports frem Tokyo 30 180 lement for the future civil today saying that Ja! probably would at the Japanese Gov- 118) helicopter, any substantial in-
SNAPPY BANKS IK
Bank
Tuyer Sellers
1100
INSURANCES Union
想
2
Lombard
SHIPPING
Waterbont
27
200
27.80
Wheelock
610
43 CUK B.I
1000
0.201
2000 < 0.0
3000
8.12
3000 (0.13
DOCKS, ETC.
140
180
5933
SU
400 05
100
K. What Donk
Pr. vident
Talkoo
Duck
Analy
100 140
- 1740 17.30 200
ercare in vehlete size will, in ernment to take sich a step.
fleet
delicate malter," the practice, tend to reduce
*paketinan vaid. utilisation and mean annual hence to increase direct operat- ing costs,
An economic
factor
which
I cannot be ignored in this dis- cussion is the scale of produc tion of the alreraft concerned, and in the final resort this will
Pan American at present has 12 lights to Japan each week, eight by piston-engined alteratt and four by jets. It is planning increase the lot service Oven flights a week, with a corresponding reduction in The
to
number of fights by conven on the passenger ilonal, planks. 17.00 depend
aircraft is State Department omelata demand which the 500 17.30
able to top. Short-haul demand said they recognised that, al- in a given Area over given though the number of nights period is influenced both by the, would not bo Increased, jeta and were able to carry more pasient- number of routes covered
43 $32
790 0 43.
1200 43
100
400 1 43%
3:00
63%
33.75
500
33.75
the frequency of service ou each gers" and had a great deal of route. Stepping-up frequency is public Appen.
met "The Japanese have
Land 20.75 4014
in itself a potent means of draw- 500 49
200 40
800 40
21.20
1.53 2000 6‹ 1,524
Ing upon Intent demand, as has great deni of difficulty," one been proved on many of British source said, “But it is « siluke Railways' new diesel ralication that is not unique for
where "bus-service" Japan
Pervices
the same, problem,"
Some European and 2000 1.525 frequencies are known to have Latin-American carriers are also
factor in facing an important been
It is o oltracting new traffic.
Reuter. simple arithmetical that on typical short-haul operation the close,
matter of 12000 2.0751⁄2 demonstration
per kilo)
LAND, ETC. H.K. Hotel
FI.K.
Average write in U.S
at
14
Buyers Sellers
designated spot markels: unavailable.
Closing prices all in cents per ib.:
Contract No. 4 world)
Total sales: 06,805 bales.
TRE
7801
March
3.00
Humphreys Heully
-UPL
May
July
3.18
Bunket
4.123
Sept.
Out.
Trust
425 2000 & 4.20
BLI
Jon.
a. Tawah.
$.00
March
S. Kelantan
Spot-1.0.b. Oubat
ITILITIES
Total Sales: 100 contract.
Contract No. 8 (domestía)
March
15.40
Star Ferry Youmati...
Mary
July
Sept
Total Snk: 360 contracta
C. Light
20.10 20.20
5000
20 20.10
100
1500 20.20
200
600
COTTON
NEW YORK
Closing prices ali in
per it.
Suot
March
May
July
Oct
Dec.
March
May
LIVERPOOL
NEW YORK
Rex rubber
futures closing prices, all in ethts per lb.;
Jan: 41.35 March; 39,70: May: 37.70; July: 27.00; Sept: 38.00; Nov 36.40; Jan: 56.
SINGAPORE
ċents
231.10 33.00
Closing prices oil in Stralis cents per Ib. fo.b. Malayan
33,16-17
#ports;
33.90
No. 1 Sdn.
21392-11334
Feb.
11544-199
31.20
謝媽
No. 3 Jan.
No. 4 Jan.
11814-11976 112-113 312-11216
21324-1144 112314 13012-13235
No. 2 Jan.
Tram .... 33.20 33.75
500331 1300 334
19
100
131
FOREIGN ENCHANGE
Electric 20.30 25.20
Electric New 24.50 24.10 Macho E... 11.40 Telephone. 324% 23.75
INDUSTRIALS Coment.
NEW YORK Closing rules: Canada
Dikers unchanged.
200 + 331
2009 231
*200 44 20.10
regular coverage essential to the New Alaska route
fostering of traffic demand can
be obtained with a larger fleet of
smaller sircraft rather than with for Air France ·
a smaller feet of larger units.
Smaller type values
Translating the principle into
an imaginary, but not unrealistic,
A
Washington, Jan. 11. -
N examiner of the Civil
Aeronautics Board · re-
25.10 example in terms of fleet mating commended today that Air
capacity, one can visualise a
375start-haul helicopter operator France be granted a licence,
planning, on the basis of canto operate a route between 32.75 servative estimates of passenger Franco
40 4011⁄2 1000)
49
STORES, ETC. Dairy
1.0474
NORMAN L. YU Representative
603 TAK SHING HOUSE, HONG KONG
Telephone: 31434.
Closing pricen
per 1b,;
sil in
American Conirnot
March/April May/June July/Aug. Det, Nov. Dee Jan
Mixed Contract
Spot rubber unbed
pence Blanket crepe....
No. 1. pale crepe .......
AMSTERDAM
Closing prices all in guilders
LONDON
Closing rates:
New York. 2.TD-13/10-2.30-15/15
Montreal....
.....20 28.40 Watson k 31.00 21.90
Le Crew. 27.40. 270
COTTONS
2.00-18/15-306-15/19 Textiles
MISCELLANEOUS
March, Abril·
May/June
ZUETANG
......
Amsterdam
Brus
Copenhagen
10.30-10.353% 139.78-130.7734 1914-19,34
Frankfurt *****2327-31.011,
3.0136-20.019%
123817-17389,
per kilogram, cit, Jan.
No. 1 rubber
alat buyers Delo
No. % rupËreer
No. 7 wer
2.32 buyers Paris ani bureru DELMO sti boyers ↑ Zurich
Vibro INVESTI
21.00
150 40 27
14.30
悦酒
15.10
(5.90
0.25 0.70 - 80G 2* 16,00
1:40. 8.70
19.10 2011
800.00
und
Anchorage,
demand, to acquire floel Alasku, by way of Hamburg, providing 600 seals. The choice
lies between a dect of ten 80- Germany.
staters and one of twenty
30- The examiner, Mr Lesid G. that of Donahue, found that the grant seaters. It is apparent. theas two combinations the 20-of such a licence "would be ax strong fleet will be much the the pubile Interest,"
The recommendation still has more operationally flexible. With
by the Civil I better position to experiment Aeronautics Board Stalk.
Air France now makrès a 20- welih new roules and to increase frequencies on existing router. fuelling: stop at Anchorage And, because the smaller type of its Paris-Tokyo route, but at aircraft in thus abile incite fully present) has no muthaaktky. to exploit the latent short-haul plek up or deliver preden pers siemand in
“tražilo," in Alaika.-Reuter;
this feel, the operator will be in to be atided
the
snes,
on
to