| Page 2
THE CHINA MAIL, THURSDAY, JANUARY 14, 1960.
'NEVER-NEVER BUSINESS
BRITAIN Hire-purchase HAS GOOD has never
Profits-the 1960 prospect
London closes
1101-1854.
L
INDEX: 1954-100
105
TRADE YEAR had it so good higher
London, Jan. 19.
Foreign trade provisional statistics published today
London, Jan. 13.
by the Board of Trade "Never-never have never had it so good."
showed that Great Bri- tain's exporta during the tant month of the year 1959 totalled £297.1 mil lon (Tob) against £298.3 million in November and 306 million in December. On the other hand
importa in December reached £371.9 shion (Cin) agent £950,0 madtion us Newsenber and £360.2
This is how the wags in the hire- purchase "business" describa its pho- nomenal boom, in 1959.
into
now
London, Jan. 13.
The London Stock Exchange shrugged off its receni care of Wall Street blues and made an irregular.ad- i vance today.
The recen selling In Wall Street had depressed prices here earlier this week but à now dem Bactone developed at today's open- effecting and was maintained. Dent
1933. .:3936. „1937. 1950 1939
PRODUCTION
100
HOURS WORKED
95
For, from ali reporta avail hamplon hotel hoa now able ko far, the your saw all fully put records of buying on hirercheme of hire-purchase chom-Rins were among shared with a
The blg International following, purchase braken, which also parne wedding breakfasts. meant record indebtedness of the proprietor is
planning to Fears of a higher interest rate
British industry will start 1960 with productivity on the Govern ordinary consumer either to his extend the scheme to his hatcia still depressed British
On the other ment bonde. Dollar stocks do- up and up. In the fast five years, as this Lealle Green chart millus in October 1959.
bank or to his hire-purchase in other clijos, Howlver ir
reasonal
several firms of under-elined in early trading and then
shows, Industrial output has risen 9 p.c. But the labour force is only slightly higher, and the average number of hours factor is eliminated the Board Supplier, and shico the reply hard,
apread over overal taketa havo announced credit turned firm. ment la
worked per employes is loss. It paints to greater profitability Kritid:
σχ British Petroleum and Shell at Trade pointed out
Jacilities for particularly years, it is described as "never-
in our factories in the coming year. or, led the oll Hat forward bui gro- experts increased by
funerals, though
Londos Express Service 5 never buying, because for the pensive cerit during the last quarter" of
dinary funerals are atiji paidnt taking shaved Some of tho 1959 as compared to the earlier housewife, the Instalments com
for In cash. Hire-purchaso gaine. Steels and textilos ad
Industriais also moved uther never-unding. whits on 1 Gungler
Before the war, hire-purchase holidays within UK and abroad Vencad. hand nyata, restisfered a cor-
especially of ordinaryave now become quite a com- shoad,--AP, residing inerente of about buying,
mon thing. "' consumer goods and household
Married
can couples Bla per cent.
articles was sui looked upon
looked to an a proper and even expen- us something to be
for Inyotte
the firs. as a last resort, if not
nol
to be
As a whole on the other hand
{feist Great Brian's total trade results for 1959 were 10- It is true latively satisfactory, that the visible trade defrit - creased as compared to 1958 but | Wai 11, hire-purchase has ma it all be taken into acountered slowly but firmly into the
exceptionally life of the middle classes
Thust 1950
WHX
By favourable to British cunmerce. † lower income groups.
end of 1056 the country almost --- AF!?.
called fully got over what are
individual and ecotiomir ravages of the war". That from
onwards, the that line people no longer suffered from and shortages of food, houmng clothing.
Exchange rates
144 wan dime
meditat
1 dl this market
noting at the feat talent--
US dollar (per $1
Sterling noter per en
Australia poten per Cu
Indonesian rupiah (per 1001 Sul (3) Singar Stealtar
י'
5.
ገና Et
2X
2603
I 01
Live
now
Closing prices
Gilledged Bonde
Transport 25%. 1978/88mm
£0.
Consols R{{%-CHU. Conaola 487176. Conversio Loen
314%.
1968-
11/30/0
1990/2004.
1900/13--
*
to plecly frowned upon, How-child: On the contrary, thank
World 1 hire-parchazo, they do ever, since the end of
Even have to postpone having ding
Lein which their elder brothers
Finding or sisters had.
Block 3%, their first baby, and
2109% in the long rua This would the
Funding Loan 4 have a significant effect evs:
the on
population
Savings 4, 2055/65-914 of the
Baringo 3%, 185/75–830 evurttry.
baving, 5%1 1969/192 19 Hire-purchase buying has
Bankı Barclay's had its effects on the habits and banking
Chartered Bank-001 6d. banking practieve in this country,,
Hongkong-203. preally because several banks finance directly their cus- tomers purchases of such items as care, houses, oven stock an shares or finance hiro-purchase companies dealing in auch er. ticles.
Progross tre-purchase buying hulped them viderably in thin mal Ar and the end of the "erod
Agreed merchant in August 1957 hire-
O/D.
rates
NOTICE
TEMPORARY
VEHICULAR FERRY SERVICE
yu Labre
buying
progressed
unrestavines expansion tar
C#-
Bartk "A" Ltd and
Westminster Bank "A" 12{%%%. Non-Cumulative---456 93.
naurac
Union Insurance Canton-RB-11/15.
Aircraft and Mojore British Motor
Ord-34.
De Javiland 285 Jet. Ford Motor Co—1009_41%d. Hawker Blödeley Group 2 10154.
Hootes Ad “A”~!1#_74% SINGERS Triumph International
Brewerien
Distillean Comate 30.
Further declines registered on Wall Street
New York, Jan. 13.
The stock market declined for the sixth consecutive
time in active trading on Wednesday,
Steep fork
Stone & Webster
Tradies Finance
The market was moderately Sleek Co. of Canada Ord-higher and active at the opening
with the
It ticker tape late. turned mixed in the first hour !and went lower In the second hour. Prices were around their lows for the session at the close. Most losses ranged from a few eens to around three dollars a shwe.
Building and Material Associated Portland Cement.
inchin Johnson Associates Ord-
704
40 od
Coal, Blaw and Engineering Babcock & Wilcox Ltd-+45 4.0. United Sta}—828 6d. Vickers L-50K
The industriais declined on a broad front. Most motors, petroleums, chemicals,
coppers, Lia-alrerafis and electronics closed
sharply lower,
Food and Tobarro British American Toh, Co., Imperial Tobacco Co, Lid-70s 04.
MiscellanePELA Boardman Marden LG-4 50. British Oxygen Ltd. Ord-3 Canadian Pacific Rly-4?? Puntop Rubber Co 20 d. Hongkong & China Gas-Be Imporist Chemical- 10 Lyons & Co-B
New problems Hiro-purchase gilore hps Jerally by leaps and bounds. Tons, fur from being looked Cenadian
Cown upon, hire-purchase buy-naturally created new problems;
Every Maximian Belling
month, there are Dollars:
Salum'at has been hailed as being 16-17-22.
of cases of in paying this people defaulting buying 16-25/32 T/T; 16-27/32; lily responsible for the im-creasing numbers
14 ive prosperity
their instalments or of frauds Contry during 1950, "the
committed
by email hire- Neverthe- purchase conNOWTIM It was of course in Caristmas
is netimated that Jese
dc- 1959 that hire-purchase ajea aro
than one-half per cent of the own to have bruken all pre-faulters do not constitute more
for full figures vious records,
number ut hire-purchase these are not yet available, but total from what
"never buyers. As for preventing fraud, is konwn,
are agencies never sales in connection with hire-purchase
Christmas season averaged demanding legislation to stop The
irresponsible far to five million pounds a day malpractices
individual or three times as much as lurt agencies especially
peddlers
a hire- selling On yer for the same period.
glut
bals. A time goes This
of hire purchase purchase
broughton, increasing steps would no buying has naturally
in the doubt be taken to protect the about rapid change
buyer and "world of shopping" that is. P.
seller ulike the buying and
social from such dangers. even habits of the people. For, many The latest great event in the the hire-purchase items such as bod-room suites history
television buiness in
UK. was the for- rpets, radio and sets, and course cars, which
mation in December, 1950, of used to be outside the buying
Uw "Ametel Club",
D. which is Incame
an association of hire-purchase capacity of the lower
Arms in the United Kingiom groups and especially the wage
between
RUMSEY ST.,
VICTORIA (Central Reclamation)
and JORDAN RD., KOWLOON The Temporary. Vehicular Ferry Service will commence operation as from 12.00 Noon, Friday the
January, 1900.
15th
The Ferries will have from both sides of the harbour at 20 minute intervals between 8.00 am. to 8.00 p.m. daily.
This service will carry only vehicles, goods carried in vehicles and persons travel- ling in vehicles.
THE HONGKONG & YAUMATI PERRY CO., LTD.
Hongkong, 13th Jen., 1960,
houses entirely bought on purchase.
kire
ان
of
Carners, have come within their and six countries on the Con- reach. Indood, a majority of young couples start their marri-tinent, including West Germany. works on system: ed life only on hire-purchase The Club
Agreements, ac- to which 7 Anance articles, not to mention of course of bilateral
cording house in one country arranges, on behalf of exporters in that country, credit facilities for Im porters in another country, with the formation of the Common Market and the Free Trade Association, We extension of hire-purchase facilities to pur- chases from abropd will no doubt help foreign trade in Europe to expand considerably in years to come.-AFP.
More 'choosy' This has meant, on the other has that the consumer hand,
He moro "choosy," become cannot be treated by the shop- the lake Or keepers with
Was leave it atlikule", which
ro characteristic of the war immediate pos war naturally, advertising has as-
and
periods
NOTICE TO CONSIGNEES tumed more and inore varied
“MANGALORE"
Damaged cargo
ex this veszel will be surveyed by Mears Wood & Browne at Stoll's Wharf fm 10
January 16, 1900 and con signees see requested to have their representatives present during the
ourvey
BUTTERFIELD & SWIRE
Aceti
Hong Kong, January 13, 1DOG.
forms and proportions, espezial- ly with he amog in of can- n.ercial television.
Increase in supply
on
the
basis of hire-buying has also resul.cd ira
brcoming 15 cheaper: Hire-purchase charges have come down from 7 per w 6 and oven G per cent cont
Lory Το
a mention only examples of how hire-purchase taking now forms buying is
a Wolver every low months,
P.O
R.M.S. "CORFU"
EMBARKATION' NOTICE
For UNITED KINGDOM via SINGAPORE, PENANG, COLOMBO, BOMBAY, ADEN and PORT SAID, EMBARKATION: Passengers should embark between 2,80 and 4.00 p.m. on 15th January, 1960.
BAILS::
BAGGAGE:
at 5.00 p.m. on 15th January, 1860.
Yesterday's Closing
Bd.
Concern over tight money and continued prot taking ngain were given by brokers reasons for the fall.
as
50%
Unilever Lid=154# 1194.
Faper Bowater Paper Corp Ord-74s 6d. Radio and Electrics! Associated Electrice-0 04. Electrical & Musical-52 1 English Electric Co-4 04. General Electric 44 33,
Shipping Steam Nav. Co. det Indo-Chine and 28 a.
P&O Bleam Navigation def ord-- 300 33.
Biores
Great Universal Stores **A"---528 Marks & Spencer Lid-Ta Tijd. Woolworth W. & conces ba
Textile Coats J. & P. Ltd-Ka 3d. Courtaulds £16—813 1815.
Mine Cona Goldfields of South
of 1,210 issues traded, declined, 423 advanced, and 205 were unchanged.
The average of 61 stocks de- clined 10 cents to $225.30.
totalod
3,470,000
#7
-UM.
|HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
Business done at the Hong- kong Stock Exchange this morning amounted to apprux- anately $1,369,000. Noon quein-
NATION
Porpoise's secret
may be applied to ships
A
New York, Jan. 13. SECRET stolen from the porpoise → a rubbery skin full of holes — may help ships slip through the water faster, an inventor said yesterday.
The same principle may help. mirsiles, roclicts and plants in.
sight and may also speed the French firm may
build jets in U.S.
now of quidă, spokesmen sald. They leted, too, it sumo- day may make possible sub- marite speeds of 70 mules an
tvith hour and
at 2010 power plants, speeds milou an hour.
Dr Max O. Kmmer, the 10 ventor, mid he had wondered
SUDO
New York, Jan. 13. improved UD Aviation is exported decide whether to assemble its famous French Curavalle jet transport planes in the United States in how porpoises swam so fast
Their about 30 days, Mr August effort. with su Hitle
is their C. Esenwein, oxocutiva Vico secret, he discovered, special ekin. Working with U.S. Providont of tho Convair Rubber Company
scientists,
coatings similar to porpoise skin have been developed that re- dure drag 50 per cent by reduc- ing water turbulence.
Mr Kramer, Vice-President of Coleman-Kramer, Inc., of Ins Angeles, spoke to a ference.
division of General Dynamics, Bald today.
The French firm is conferring with both Convair and Douglas | Aircraft about such an arrange-
ment
Perla for the planes would; be Haws con-shipped from France to either Douglas or Convair where they would be asserabled.
CONSULTANT
to
B.
Vice-Admiral Charles Monton, a retired U.S. Navy and now a fubmarine expert consultant
U.S. estimated the possible submazing speeds. He also foresaw moving cars submarines towing ofl-filled rubber containers through Arctic seas.
Mr Esenwein eaid Sunt is con- sidering the arrangement in RX1 effort to capturo a greator share fof the American jet market--
AP.
Rubber, Direct Europe to fat Moscow railway
Mr Kramer began research T
THE
Frankfurt, Jan. 13.
first direct rail connection between before Western Europa and Moscow World War II when he was in vill go into service with the charge of the Aerodynamic
into anti-turbulence
Insitute
the of
it was
on his trip to the United States that he saw a school of porpolse and began to wonder about their speed.
The Dow Jones 30 induo- trials were down 3.99 at 656.44.
Volume shares compared with 2,000,000 110ns and the morning's trans-studied them for some time and shares traded on Tuesday---AP.
Closing prices
00
Amter, & Forgn. Power Am. Natural "Gen Asbestos Corp.
Bank of Montreal
Bank of Nova Beolla
Beech Life Skvere Bell Telephone
Africa-Brilish Columbia Elec. British Columbia Pwr. Cana Bk, of Comm.
Cons, Zine Corp. Ord-75% 3d, De Beers deim)08e id co Hangkong Tin-J1 $350. Petaling n-1 7:56.
Pand 1068
Southern Kints Cong Ltd-31x Md. Union Corp-07 1Vist
West Driefontein Goidmining
Britis cate--50% British
QU
Consolidated Paper
Conners Gas -
Georgia Padine
233
1:0
351
actions:
Sharre BANKS
K Bank.
Buyers Bellers
INSURANCE Union ..... Lombard SHIPPING
Wheeluch
DOCKS, ETC.
X. Whart
Dock....
Providens
Talkoo...
LAND. ETC.
IK Hotel
Bairt
GO 1173 103 10 185
350 g 14
0.15 4.20
147
500 $20 7200 0.33
295015
100 or 143
140
200 57')
לית 43
17 406 500 17.28
*# 425
3733.75
HK Land... 40 40
Humphreys
thealty.
421
30
イン
3532
21
Come Imperini Mik
41
Diamond Au
Diese sograms
224
Dorninion SJÄITI
Ta
031-35
Heyden Newport Corp.
18
Hiram Walker
354
212
Imperia Oll
374
Horinda Mises Ltd.
401
Dun Mathieson
50%%%
Penn. Salt Co.
320
UTILITIES Tram
Pitzy Bowes Royal Bank of Canada
30
24%
Yama
C. Latit
Barnes Petroleum, Syndi-Human Retrig. Petroleum Co. Lid-se
Burmah-dhe pd.
d.
Royal Dutch Petroleum-15%. BRAN Transport Trading~1570
--Reuter,
Sebentry Inc.
COMMODITY PRICES
SUGAR
NEW YORK
Closing prices all In cents per
LONDON
Closing prices all in per Ib.:
No. 1 spot ...........
Selfort have term:
Feb.
Jan. Mar.
|Apr/June
July, Sept. Oct/Dec
General markets, elf, bEzelu
Estale crepe thin Jan.
thick Pob... AMSTERDAM
RUBBER
Amaig.....
Trunt .... A. Tawali.
Star Forry
Electric
21 21.30
1.50 1.525
4.123 4.225
10042
1700 16 10
boo 21.10
2000 4.35
633 6.63 5009 11 5,20 4.00 4.90
B.40
22.75 33 1803 33
130
400 or 33
146 100 145
117
3:50 131 19.00 20.10 1304 29.30
500 41 300 23.10
11500 100
10
25.00 25.20
230 2470
18
Ma New 2415
33 32 2000 a 32.50
Tel.
Detry
July/Au
200
INDUSTRIALS Серпель
Oct, Nov.
pence
Day/Jan
21.00
STORES
C
Mixed Contract
23.10
22.10
Closing prices all in guilders
per kilogram, c.i.£. Jan.
No. 1 rubber
16.:
Fab.
Contract No. 4 (world)
March May
3.02.03
3.00
July
3.14
Sept.
+19
Mar.
Spot-(tob, Cuba)
Total Sales: 350 contracts
Na, a rubber
No. 3 rubber
No, I crepe
March
3.48
July Sent
6.30
8.73
Total Sales: 33 contracts.—AP.
Contract No. 6 (domestic)
May
|| RUBBER
BINGAPORE
Should be sent to Hongkong &
Closing prices ull in Straits Kowloon Wharf Company's Godown cents per lb. Lob. Malayan (No. 2 Gate) by 5.00 p.m. on 14th pœ 3: January, 1960.
SUBJECT TO ALTERATION
No. 1 Jeb.
Tel.
No. 3 Jan.
3. com.
10 nom.
J. Dan
Mar. Apr. May/Jurve July/Aug
Oct, Nov.
Dec/Jan.
Watere
ICK & FE
4012
2716
D
100
2000 ↔ 3474
DER 40
German start of the summer sche- Research Centre for Aeronau-dule, on May 29, the West lies After the war he worked German Railways announced for the US Navy.
here today.
that feature The novel travellers on this route will no longer have to change from the Standard gauge carriages to the wider gauge Russian carriagos, The gaugo of the curiages will be changed at Brest-Litovsk, on the Soviet border.
Through
to Moscow will leave daily from Paris and our Umes a week from Hol- land. Under the new schedule the east bound trip from Paris To Moscow will take 53 hours and 21 mluutes.-Reuter,
discovered that they had only about one-leath at the drag that would have been expected for their size.
In 1856 he obtained a sample of perpolse skin and found that it was covered by a very thin elastic layer filled with ducts.
AP.
thing
New fire-fighter
COTTON
NEW YORK
METALS
NEW YORK
Closing prices, all in cents per
Jan. Closing prices nii in cents
unguo LONDON Closing prices, all is sterling per long tan.
sellers
1. Craw COTTONS Textile ...
22.30 22.40
- 21.00
15.30
INVESTMENTS
Vibre
Int
Allied
Invect
4.00 0.75
3000 32.50
2000 332
15004315
200 27.40 1000 22.49 130022,30
2000 6 6 00 500 6.00 5.00
8.55 5.00 1000
.. 1320 13.00
UK's steel
output increases
London, Jan. 13.
Steel production in Britain Jami kunih resohed a record for any December, i was „KE« nounced hope tonight by the Iron and Bleet Board, Production. averaged 432,900 Lona a week, 33 per cent more then in December 1958, when the weekly rate was 312,100 tonn. Output in 1950 totalled 20,309,- 500 ton galt 19,800,000 tons In 1948.
The Iron and Steel Boord said it was estimated that total out- pet in 1939 might reach 21,009,- 000 tona.- Rauber.
This unique fire-fighling float - the “Firemaster!......... bag been, bulli for the Briileh Petroleum Tasker Company for zno in dwarves Harbour, in Walew. Designed to overcome the MindYazingm of the orthusduar: fire-fighting tug, the novel orati's mala festure are ture 30-foot lotta pontoons, 14 foot- wide and spawod alght fast'spart. The patiosta aro Jetnod at dook level. There are ning 4-inch gesz-operated noszloes four onch on the platforms and one on the root of the control cabin. The bosat ww⋅szy seyea of which can be directed in the sazdo direction at one time have a water capacity et Rose matione a. mieste, An Interesting feature is the besTy Lorry, whocin difed fero, and aft of the pontoons to neslat the of the flost, nierig the side et a ship. The BP
EN Enio Metios. this year,
per lb:
Mar.
July
Oct.
LIVERPOOL
3.79 пот.
115.
LAM
Тап
Yeb/kar.
Zine
Jan.
Tob/Mar.
Copper
Feb/Mar.
111
Teb.
23.00
SVILLE
BLA
31.81
131.00
buyers
Tin pot
093%
99
13
21.30
Copper spot
2501
-AP.
3-month
Land 28 halp
April
Eine ne hale
Closing prices all in pence
ING. 5
"
per lbi
No.
Spot rubber unbaled
Blanket ope
American Contract Mar/ART.
30. 1 pako črvpe