| Page 2
THE CHINA MAIL,
WEDNESDAY, JANUARY 20, 1960.
EUROPEAN TRADE BLOCS
EARLY GAINS Nothing concrete
ON NEW has resulted
YORK MARKET from recent talks
'New York, Jan. 19.
Stocks met support after a
ragged, general tower) opening today,
the close of the #rst hour pad
the tape raN D transactions.
minule behind
The support enabled many Isales to rise from their lows and others to. extend earlier gams-UPI.
By AN ECONOMIC CORRESPONDENT.
London, Jan. 1974.
HONGKONG
STOCK EXCHANGE
by
Our Own Cosacxgrandini
Bilainess done at the Hong
thle
Selling pressure causes losses on London market
London, Jan. 19.
Buycis became active toward People nowadays should be used to well kong Stock Exoliangs
morning amounted to approx- All sections of the stock exchange were under sell- conferences which end Imately $1,034,000. Noon quota- trumpeted
ing pressure today and widespread losses with the bleat of official platitudes and the morning's
resulted. of frustration and eloquent stalemate. "Constructive discussions, R. 117h tibs
of botter under- "foundations
"valuable standing," views"
Closing prices
Last week's round of tcoin- mie talks in Paris did not stem to merit even the usual epilogue of facile-ofejal 'optimism.
The obiegl of the talks
was
exchange
Brokers attributed the air of caution mainly to ferent warn- ings by a number of industrial and banking ngures that shares In general may be priced two hiph.
Industrial issues were €5+ pecially depressed, with steels leeding the slide.
trans-
actions:
Bharer Buyer SellerA BANKU
of
Bales 21
45,203 301203
20.1103
Union
INSURANCES
03 04 Lunibard... 1
ETC.
147
เล่
100 4 24
Duck...
GT 671,
17.40
400 M 57
300 DI 2.4G
3000 m 174
Talkou Dock
JAND, ETC.
K. Hotel 33%
41 41.75
200419%
24
100014
{marked
HK. Land. 413
MA
320434
16 4149
2000
700 €12
900 42
An American suggestion for this latier need was meeting that the main Western creditor nations should band together pro- and co-ordinate their ald
to reconnoltre a modus ylverkligrammes, for the two rivni trade blocs of
the Western
-ABed Chemicals
104
Able Chairpers
30a
Ainet, & Forgn. Power
Am, Gas & Electre
402
American
Au
American Smelting
4!!!
Amerleon Tol & TVI
American Tub.
107
Anacunda Copper
643%
fleneteial rinnce
Bethlehem Stel
Canada frcise R.
23
629
Be
4235
213
Hubber
100% - 1 BrunİN. 13534
Furope, Western France.
Helgium italy, Halland, lasxembourg and the Seven Sweden,.
Six
Germany,
und
Denmark, Austria,
Norway, Switzerland
and Portugal).
The
Goodyear Tyre
18
cative
Chrysler Motors
Consolidated Edison
Cuban Amer. Sögur
Diamond Alkali
Dupont de Nemuura
Eastman Koduk
Free The
Ceneral Electrie
General
General Maturs
Heyden Newpat Corp
Inf Dustnej vinettijen
Inl Harvestir
Internation, Nickel
Da Tei Tul
Kentecoft Copper
Lockheed
Alterall
Lewes Ineurp
Lone Star Cement Co
Kimigomery
National Cay Hed. "A
National Lead
New York Centra:
Oli Mallumeuta
Paclily
Pan American
Parantant Pictures
Penn. Salt Co
Radio Corporation
Republic Steel
luizen Aug
4.
21
15
of the talks impeltes
America targely from where there fa justifiable con- tera at political angers of a ecmomic riven by Bumpe rivalry and at economie dangers, to outsiders (Including U.S.A.) of too facile an agreement bes Iween the Six and Seven.
Internal aid
There was also to be dis-
63% cussed a reshaping of internal uid to underdeveloped countries. Here again Amertens were largely Interested for they have for same time been convinced
This it seems was the least controversial proposal put to the conference members.
Prematuro
Irovident
Realty
ཝཱ བྷ
1020 of 4
1.323 1.53 2003) #EAS
But i seems that even this bear suggestion is unlikely to
lin- appreciable fruit in the niediate future. For there gained
RUNNER currency among the delegatza
Ainly.... 4.20
0.30 Dist talk of co- view
3.15 Singala o aid was premature
UTILITIES ordinated
Troni while matiems likely to provide it were split among themselves.
the
This view, touted from within the Seven, was elently intended
the
T
3000 1554 21523
23
0CCO 4.20
32 33%
3000 61 23 500 14 13 200 + 3314
500 $31
Yaua!!
4
132 133
300133
to jolt the talks back to immediate question of repairing C, Light .. 20.10 20.30 0240 20.10
European economic rift
the
when it appeared that the scope of the talks was becoming too world-wide.
In the circumstances it was a
2500 20.10
Government bonda
hpd
d
.
fow firm spots In view of the fall in the American treasury
bill rate.
Dollar stocks
were
mostly dum in
sympathy with the decline in the previous Wall Street sessions.
Golds were dull and crutonally lower, coppers dull, and lending oil shares stulty.--- AP
Closing prices
Oiltedeen Hos
British Transport J. 167/8. 03-15/18.
Consola 2 $896.
Consvis
Mines
ConselЛelds of Routh Africa-
Canzme Corp. Orú.743.
Do Buera daf-109 11jde
FRONE in 3m 415.
"Tên là d
Fac
Southern Kinta Cons Lidl. Union Corp=flig.
West Driefontoki Goimining-19
cate.. cor,
a
3d
อ
British Borneo Petroleum Byadi. Petroleum Co., Ltd-870 British Burmah-80 4ted.
Floyal Dutch Petroleum--10-1/10, Shell Tranport & Trading-15 jjgd cor.
--Reuter.
COURTAULDS' TAKE-OVER OFFER
SPORTATION
New helicopter developments for civil use
FIVE new helicopter and two prototype projects covering passenger, industrial and military requirements have been announced by Westland Aircraft Limited. The firm has allot.ed £1 million to the scheme and all the aircraft will be powered by gas turbines,
and has shown Westland aiready produce the the conception Skeeter, Widgeon, Wasp, Whirl-iha reliability of the basic com-
THA wind and Wessex M. and ponents and mechanisms, have the Westminster Flying means that a development from Crane under construction. the two proiblypes could be in
The smallest of the new raize service tong before any com- will be a clýil development of parable helicopter or V.T.O.L. the Wasp, which was until re-(Vertieni Take Off and Landmg) cently known as the P.831 and aircraft,
use,
originally designed for military Westminster development will Powered by the Black-not be confined to the civi burn A. 129 turbine engine it is version. Experience with pro- 0/0 seater with a flexible range totypes an demonstrations with of duties,
the Armed Services has shown military the The Whirlwind, in
need for A heavy-duty guise, has already been powered. Crane Transporter helicopter buy # single erpable of lifting and transport- experimentally,
turbine Griume gos
engine. ing loads in excess of 5-tün®—– This aircraft is now destined for bulbs for military and industrică London, Jan. 19..
a civil use. In anticipation of eventual Westland are version will be produced. These military interest, Full details of Courtaulds' production and also
offer for Pinchin, Johnson machines should soon establists to build a full-size mock-up of sized he Crane-Transporter. which and Associates have now themselves us medium been sent to shareholders.helicopters of greatly improved in its production form
both at altitude carry louds two performances, The addition to In. Courtaulds ordinary offered for and in hot climatic conditions. crutched between
Uso they win carriage, or loads in pods, which each three ordinary 10s shares: For military
Johnson, Cour initially be supplied to the Royal could be in the form of trans- of Pinenin, aulds are offering 259 In cash Air Force. Later, existing fleets portable hospital units, or could Whirlwind be laid out for the transporta- of platon-engined cách t ng cont first for
of Fin- helicopters in civil and milltary lion of troops and or military cumtitative preference
equipment.
This extension With
of chin, Johnson and 165 for each use can be turbinised. Aircraft-3m fyd.
A new twih, Grone-powered
the development, Westland will be four per cent second cumulative
from derived crototype
for civil and preference share of £1.
pirined for able to offer ordinary Wessex M,1 Pinehin, Johnson
trials during 1960 military tasks helicopters rang- shareholders will receive on Bight
Funding Loan 4%, 1950/D0~~ LITT1⁄2. Savings 76. 1859/00-EPI Savings
Savings- 1975.
MIKE
100133 200133
Conversion Lann 36 1069 Co. Fuding Long) 37 (959/X£8443,
3/2 Funding Stock £70-0/10.
3000 20.20
2005 44 20.30 500 20.20
Electric .. 20 220 200 20.30
0257 K 26
13
500 Gr 23
1000 ur 19
1000 63
42% 42%
500 23.10 1000
Maono E... 11.20
thin in this field the creasingly Justine ile to take but very Telephone, 324
273%
24.
Hears, Roebuck B. Cu.
16
Sinclair Oi
Sony Mob O
40%
207
50% prosperous hallons of Europe have bren their feet:
21
Svlar Alrerafi
Southern Co (The)
Rand
labar Brands Standint Oil of Cal. Standard of tod.
Standard Oil of NJ.
Sleep Rock
Studebaker-Packard Corp.
Swift & Co.
Texas Co.
Tese Inc.
Union Carbiele
United Oas Corp.
U.S. Gypsum
S. Rubber
US Smelting
13. Steal
Warner Bro
Westinghouse Elechts
Western Union Tel Co
મ
'Woolworth K W
03
OFFICIAL NOTICE
Proposal to change a Ship's
name
Western real problems by the growing
dragging disparity between industrialised INDUSTRIALS
Rubber market quiet
Singapore, Jan. 19.
The market ruled very quiet throughout the morning at slightly above yester- day's level.
railer re-
Cement under- and Western powers
STORES, ETC. developed countries will not In-Dairy prove with keeping.
#
.... 23.28 23.40
Walker
22.30 22. Lane. Craw, 37.60 1.05 Sun Co.
If they are to wait upon the healing of the split between the Six and Seven ti looks as if they may wait long enough. For the only demonstrable result of the Paris get-together was the spawning of a series of further conferences which show every sign of perpetuating themselves unless there is a drastic change | MISCELLANEOUS of heart on both sides. Indeed few observers would be pre- pared to say that 1900 is kely to run the problem solved.
A hazard
Car the question of converted international aid be left so long? Not without hazard in a world where so many of the under- developed territories are poll- tieally "uncommitted."
Towards noor fair buying in terest in March Vlic Rss ma- I, Yun-Shin Zee of 12A Katerialised. Demand for tower Yuen Terrace, 3rd ft., ILK,, sheet Htmlted to squaring up.
Something concrete may hereby give notice that in
market The afternoon
wis l'emerge from further aid talks with tendency for scheduled to take place within consequence of Change of very quiet
the next few weeks provided ownership, I have applied to prices to steady.
that there is no deterioration in In lowers there was falr de-relations between rival Euro- the Minister of Transport
penn bloes.
fact that under Section 47 of the Mer-mand with sellers
Perhaps the luctant to offer. chant Shipping Act, 1894, In
stalemate has been replaced by There was some mild theory on atmosphere of negotiation respect of the British Steam
interest.
(no matter how rarifled) may help-London Express Service. ship. RIVER CLARENCE of .HONG KONG REGISTRY
Offelal Number 174009 Gross In London, the rubber maNKOŁ was steady after firm with spot tonnage 0031 tons Register quoted ut 30% petice per tonnage 2062 tons, heretofore pound.
LONDON STEADY
owned by Australian Coastal/ In Amsterdam, the rubber Shipping Comuniesion for per-warket
wus steady today.
mission to change her, name In New York, rex rubber to GOLDEN ALPHA and to futures today closed 20 to dz points higher with scles of 50 contraets.
have her registered in the new name at the Port of HONG KONG as owned by The
Ilgher prices prevailed on a limited supply of shipment offer- ings from the Fur East, steadi-
World-Wide Steamship Co.,ness of London and evidence of
Ltd., 420 Marina Hongkong.
П
Yesterday's Closing
$50 $21,
Barclays Bank "A" Lad ord-818. Chartered Bank-la od Hongkong-0314.
Insurance
Union Insurance Conton-45-13/18.
Arecast phd Meets
British
Heviterp: ord-22.
Ford Motor Co-100s od eptir
Hawker Siddeley Group Ord-319 23.20ates 144 "A"-114
1900 e 23.30 Standard Triumph International-
3000 23.40
3000 or 23.30 100 23.40 300 23,30 1500 331
530 44 77.30 3.29 1.20 1.00 1.10
COTTONS Tixtles Yunyang
9.40 11.45 1000 4 1,43 14.00 14.80 2000 14.70
INVESTMENTS
Vibro
Int. Allie
4.00 H.K. & F. E.
Invest. 13.40 £1.20
15.70
7
W. German loan
to World Bank
Washington, Jan. 10.
11.
Breweries Distillers Co-30s 11
40.
Building and Materisu Ansociated Portland Cement-78s Godinas Wall & Lead Ord-49 Pineliin Johnson Associates oro- Coal, steel and Fagineering Babcock Wilcox Ltd-15 3d. United Spelidos odi Vickers Ltd 363 00.
108.
i
Is
would
oi
any length
ita under-
February the interim of Ave Designated the Wessex Mk.2, ng Trom 500 lb. to 39,000 Tb. per cent already declared and it will have exceptional allude (3-up weight.
the Courtauld's offer becomes capability as well as a good per- unconditional, will receive a formance in high air tempera- further dividend of 11-3/3 per ture conditions. The cent in July next.
Courtaulds shures issued in respect of the offer will not bear uny dividend for 1959 to 1980.
The offer is subject to accept British Anierican Tob, Co. Ltd- once of not less than 30 per
Pinchin, Imperial Tobacco Co., Ltd-4h K. ordinary and subject to Stock Exchange permission to deal in Boardman Marden L 40 6. Britini Oxygen Ltd. aN-799! the
shares. new Courtaulds China Mall Speciat.
require Boac completes
ments for civil passenger-cuiry- ing helicopters to fly with one engine out are met in this Comet fleet machine, which is expected to
Bd car.
Food End Tobacco
Miscellaneate
Canadian Pacific Ny-4784.
Dunlop Rubber Co. D Hangkong & Chins Co--134, Imperial Chemical-875 74.
Ivons at thou na cor.
Unliover
Paper
Bowater Paper Corp Ord-Tie Cd. Radio and Electrical ates Min-0
Electrica Englishs 34. General Electric-44 3d,
Shipping Indo-China Strom Nav. Co. def Navigation, def
The World Bank is borrowing or Stearn
200 million Deutsche marks from the Central Bank of West ord-47 si. Gertnany. Making the an- Great
tonight the bank 04. nountement mid the credit was obtained in conncetion with normal nang- Ing.-AP.
COMMODITY
SUGAR
NEW YORK
LONDON
Closing prices all in pence per
No. 1 Tu spot.
30-3014
Settlement house term:
Toi.
3476-35
Jar/March
3341-33%
April/June
July/Bept,
2234-327 $134-913
General markets,
Closing prices alt in cents per. Det. Decidir, barte, potis:
a roviving factory der' and in the House, domestic spot market
Shipment offering included some ano sheets from Ceylon at ib.: pro-10 cents a pound, Jan./Feb, cost and freight, Indonesia reportedly offered three sheets at 304 cents walle Singapore tendered ambers
at 39 conry, March. Three am-
to
Conirabt No. 4 (world) Any objection to the
farch: 219: May: 3.03: July: ait: posed change of name must be
Sept: 3.17; Oct: 3.10: Jan: 120: Mar: 3.20; Spo..8, Cuba): 2.99. sent to the REGISTRAR OF
Total
281 eontracta. Open interni: a contracts, SHIPPING at HONG KONG bers, from another undisclosed Contract No. 6 (domesite) within SEVEN days from the origin, were offered at 191⁄2 cente March: 0.42.43 May: 0.20 July and one-ex-browns at 39% cents 307 Sept: 5.72) Spot-C... NY.
and ex-duty 540, appearance of this advertise- pound, Jan./Feb, cost
Total Enless 125 contracts, freight.
Open, interest; 2,300 ment.
Current No. 1 ss was quoted | tři, st. 41% centsUPI,
·
Dated at HONG KONG the 20th day of January, 1960,
The World-Wide Steamship Wheat and
Company Limited.
NOTICE TO CONSIGNEES
**WAAHUS " Damaged cargo ex this veel will be aurveyed by Messrs Paulwg & Bayou-Davy, Lid, as folk'a Whart from 10 mi, ces Fentury 21 ANKE, 1980, der ewitiwanage are requeied to have thete vepřoomstativen þreicht during sim kuTVAN,-
BUTTERFIELD Á „AWINE, Abente. Hong Kong, January 19, 1900,
grain prices
Chicago, Jan. 19,
contracts.
RUBBER
NEW YORK
Teb. ** Estaté crepe thin Teb.
thick Tab
AMSTERDAM
33-334
30
303
Closing prices all in guilders per illogram, c.lf. Feb;
No. rubber
No. 2 rubber
No. 3 ruhber
No. i crepo
Stores Universal Stores "A"=-509 & Spencer Lid-is 34.
Textiles Coats J&P Ltd 329 Del, Courtaulds Landla $150.
Binal worth F. W. & Co-
PRICES
Ont./Nov. Dec/Jan.
Mixed Contract March/Apri May/Julle Jul/Aug Oct/Nav Dec/Jan.
METALS
LONDON
cent
of
תכלית Job
JAPAN AND
MALAYA TRADE TALKS
not the rear of 1H€ ninataanth Comet 4 lino work and inter-city hell- for Bote was delivered center travel.
The Wiltshire, intermediate infant wook by de Havilland. size between the Wessex and the Ir is the last of à ficat or- Westminster., 18
helicopter
bulled
む
beat-
Corporation.
evolved dered by the from the Sikorsky S.81, and Delivery, of all tho dircraft
offéetod will be completely new to the was
within Westland range. The prototype ahead of the limits set by powered by two Gazelle gas turbine engines should be flying the contract.
More power- The Arst two Comet 4s ware later in the year.
American equiva-delivered to Bose on September .ful than the
lent, it will be developed for 80, 1958-two months ahead of both civil and military use. It schedule and in time to enable tip 10 23 the Corporation to open the first [can accommodate
jet service between London and passengers.
New York on October 1.
In the intervening 15 norths Bosc feet of the growing Comets with their Rolls-Royce Avon engines, has secumulated
The Westminster Mk.1-tran- sport development of the Flying Crane-the fifth and largest of Kuala Lumpur, Jan. 10. Malaya and Japan are to the new Westland helicopters, in to fly by mid-1901 scheduled hold formal trade talks in and for delivery to civil opera- more than 31,000 hours of fly- Kuala Lumpur beginning | tors towards
on
the end of 1062. Ing. Since the inaugural services February 18, Rafa Considerable interest in a civil acrom the North Atlantic to Mohar Bin Badlozman, version has long been expressed New York and Montreal, Boat's users throughout Cornet services have been ex- Acting Secretary to the by potential
the world. The pération et tended to Ilongkong, Colombo, Ministry of Commerce wo Westminster Flying Test Rig Tokyo and Sydney and to South Early in 1000 services and industry said today, prototypes has resulted in the Atrich. He said it was hoped the talks accumulation of considerable are to be started using London and dovelepmcht ufid South América ond New would lead to a trade agroe- light testing ment,
experience, which has proved York with the Caribbean.
The fotinal takes will follow preliminary discussions which were held here last year.
A iradé ògreement with Japan would be the second into which Malaya has entered since she became independent on August 31, 1957.
RECOGNITION Usually reliable Government sources sald here today they thought that Jopan might sit Maliya to recoltaise iter, as a member of the General Auter- ment on Tariff and Trade,
At present, under Article of GATT ngreement, Malaya
35
Closing prices, all in sterling does not recognise Japan as a
3.28 bayers 3.25 buyers per long ton, Tim 1.70 buyere Boot
3.24 Muyors
-PL
COTTON
NEW YORK
Closing prices all in conte por spot: orion; Marci: 21.00: May 33.10 July1 .93; Oot: 31,14 May: 5101) July: 31.10.
NEW ORLEANS
Hex zubbet hitüzén closing|1b The grain futures market į prices, all in egnts per 1b3 slippert inlo general sight Jan! 40.05; hard: 40.18 May: wenlmese on Tuesday with motus 29 July 19.70 Sept: 30: Nov: contracts of wheat, catis and 27.30;, Jani 37. mybes down, major frabilóna at Umes.
Whedt, won
cil on
SINGAPORE
› Closing prices.ail in cents por Jb.
bots 3.30Marés: 2107: Max: Closing prices all in Suite 33.19 July: 24.921 Des 1.18; Ded: Entellawor at the oloba conta per 15, fob Malayan 30 Mar: 6144 May: 3103; July! Mured, 2.0311⁄2-14|||| corti
3.18. LIVERPOOL
changed to 16 lower, March | No. 1 Tab. itse
Mat,
1.10-10% balking to No. Fro
4 lower Match 773-4 tye Nu a red win. TIMAHAS
- hilton, Malth 180y; Now, Aureby kan
mybenis 1⁄4 higher in Yk tower, Apui ruuter, unkaled ..
January 2.101⁄2=3⁄41⁄2Ï3
nankas repr
* Nú, 1 kale crepa
Clising prices all in pibes për
ab
American Centrist
Marvadili
Z
-Buyor Ballorg
705
70014
Copper
B00%nth
257
260
Leort and hall
April
149%
743%
7484 7412
Zine 2nd ha
044
April
DISA
FOREIGN EXCHANGE
NEW YORK Closing mis: Canada
Others Line:iamtest.
LONDON Coking rates: New York Montreal
Mig kommer kak
Öste
1.0-9/31
3. 18/1612.12-11/14′′)
·2,69_7/15-100.9/10
18.7954-19,73
member.
Before Malayn achieved dependence, the bountry was at adjunct of the United Kingdom and, as such, did not recognise Japan as a GATT number.
The soureen saké Japan might also be expected to press for tariff reductiosa an šöme goods. They did not specify the codda. The sources said that Malaya could be expected to ask Japan to buy more Malayan rubber,, Ein tid iron ore,
The talks are scheduled to be hold in
Tunku Abdul Ian Hall, venue of the Maloyan-Australlán trade talks in 1938 China Mall Speciál.
Exchange rates
·BURINAM WAN done is the Jopal
Titlemelange market tal poring. At Lie, Kollowing TALE: 1,8., doilies (der (1) PREPARA
Australian cotas, (pay. Cl... Likianasian rupiahı ; (pur: 100) Blastele (per 100
20.06
DAMEN (BINAAN
JET-PROPELLED MOTOR BOAT
A saw type of high-speed jet-propelida mälud none wilkK TH pó rudder or propeller, which was slodćaktilly, demonilissed. by world water spend nod, Dr Bald Capipicil, was the 51 - time, great attractions at the National Boat Show held in London-recently, The host, is the “Howly: Tarbourah” which - mwambie ne a spood of 35, miles per hour, and which la só msherKerabía that it dán inen, in its own Hearth with the throttle, wide open. The best with la, very sleek lines is obezi here being towed on a two wheeled trailer krebind a, mediueta siped saloon Der.