THE CHINA MAIL,
UK GOVT'S BIG
WEDNESDAY, MARCH 9, 1960.
SQUEEZE
London Giltedged move |HONGKONG Another drop
closes
lower
London, March 8.
Share
prices fell back across the board today with nothing in sight to bring back the buyers. Wall Street's decline
A dribble of small setting sent prices skidding down and indas- trials took the brunt of the falls. Electricals were harder hit than Most and were followed by steels, stores and textiles, No section escaped the drift.
bonds started Governmical firm but hayers stayed out and prices fell away. Foreign boils wrat easier.
has shaken
stock exchange
The British Government's withdrawal of support for pittedged sineks surprised and shocked many. What was behind the muwe? Did it presage a period of credit restriction and tight money? Alexander Thomsen, popular British econsulte commentator investigates the simationg-
STOCK EXCHANGE
Our Own Correspondent
Business done at the long- kong Stock Exchange this morn- ing amounted to approximately $3,471,000. Noon quotations and the morning's transselions:
Stures Buyers Ballers Hales 11.K. Bank INSURANCES
SHIPPING
BANKB London, Mar. 8,
Union wheelock
C
K. .. 107 Dock
was a depressing factor The old lady of Threadneedle Stroet, as they in an already dull mar.
call the Bank of England, is rustling her kel.
skirt's in disapproval. Apparently, she feels that big banks are being too free with their money. Her displeasure has upset the giltedged markot and the whole stock exchange. Thousands of small investors have been shaken. "What do big bunkers say The elty, like industry, dues
new credit; bern not believe that a about all this? I have asking some of them. They do squeeze on the old pattern is in not agree that their leiding is the offing. But it wonders whe- excessive. Since the summer of ther the idea of calling up. 1958, when the credit squeeze banka to make "special deposita" ended, their overdrafts to custo- at the Bank of England will be ILK. Land XA mers have spiralled by £1,000 mvuked, million to £3.000 million.
This would freeze in bank
showed cash Dollar stocks minus signs Red by U.S. Steel and International Nickel att followed by Chrysler Tarici Bethlehem Steel.
Olls moved narrowly and, this market falled to set a trend but Burmah and British Petroleuin and Ara spats.
Rubbers and Teas were dull,—
UPI
Closing prices
Gledged unde
Prish Trangørt. 17/- £35-1776.
Console 29G£47-7/36.
Consols 45 - £7
£122.
Conversion -JAN
Funding
103 .
Lands
3. $IMI..
195/5
Funding Stock 3. 101/2004- 400-3/10.
a fear 4% 1000/90-£.
1954/55——— RUI Savings. 1900/T BÙ-8/10. Savings 3
165/75-£2. Hanks
For every £1,000 they were funds that would otherwise form lending then, they have £1,500! the basis of further overdrafts to but on Ioan now. Increase has customers, certainly been steep. But it needs To he out into some sort of perspective.
Bank loans
When the big squeeze came .uff, the ratio of bank loans to
deposits had fallen to 30%. the last count a week or so ago, 34 has increased to 437.
At
"But," say bankers, "this is still below the level considered
Lareiny's Bank" "A" Ltd_ond-5 fairly customary in years before
tel
Chartered Bank-31 d.
Flong Kraig- 003
Boyd's Yank "A"-59% Dd.
Ensurance
Union Insurkuce Canton-20-3/10.
B 19.
Aircraft and Moters
Motor Corp. O–199
Ford Motor Co-00% 411⁄2d.
Hawker Siddeley
32M 341
Grap
Root Lect. “A ̈~ VI,
Its 150.
Breweries
Dinillery Co- 4d.
;
the war. Then, the generally re- cognised ratio between overdrafts and deposits was of an order of 50%"
The truth of the matter is probably not so much that banks have been aver-lending but that Ord-Government is overspending.
South African Breweries-20% 31.
Building and Materiala
Apelated Portland Cement-
odiaks Wall & Lend
Ord
Cant steel and Engineerlag
Babcock & Wilcox Ltd 1.
In the next budget year, Its
na
BEL
NSPORTATION
registered on World shipping Wall Street faces problem
New York, Mar. 8.
1310 421300 Stocks went into another general decline today- their seventh setback in a row ---- but managed
400 100
500 G GO
to finish somewhat above their lows for the day.
The list spent a small part of, Boeing Airplane
243% вать
of discrimination
London, Mar. 9. HE P and O shipping line in its annual report THE
today analysed what it said was "the gravest problem" facing the shipping industries of Britain, Norway and other countriés,
(Peninsular
101
71%
7.30 6000 7.30
390 7.25
6000 or 7,50
340 71%
120
200 180
19
100 er 2005
200 F
2009
Provident
19.70
19.00
16400 37 10070
the afternoon on the upside, Borden (The) Co.... then went into a rapid decline) Burroughs Adit Machine led by blue chip industrists. Du Pont, up well over a point at Its best, slipped under heavy pressure some four points below ils previous close in the late
20-14
British Amer. Oll
39AL
313%
47
P and
19
Orient) Company
40%
biggest shipping group.
The P and Q report said that the world's after taxation, the group's net profit, which fell from
404
14
1000 20,70 2000 @ 10,80
Celanese
20%
2200 4 30
C. I. T. Financial Corp.
Chrysler Mo
49%
મ
The cargo liners, the reports | £10,500,000 said, faced one long-tern pro- £6,600,000 in 1958, Jen of considerable gravily. ther reduced in 1959 to £3
"This is the continuing growth | million.
But maintenance
in 1037
to
Wag
fur-
of the 11
the
Vick
then
Colombian Carbon Co. Commercial Credit Consolidated Edison Consolidated Paper Continental Oil ut Det, Crate Co.
4514
Taiko Duck
LAND, ETC.
Hotel 301
so
304
300-
1500 38
Mumpress
For no unusual reason some Realty bankers are looking over their shoulders in case this should
happen. Mr Cameron Cobbold, | RUBBER Governor of Bank of England, Amate." some time
Indicated s desire to retire.
OXE
It is sold that he wants to go this year. And that as he in- rented the "spreial deposits" wapen, he is eager to try it out
rat
Just gossips
This is Just gossip of course. But while the possibility Bongs
700 - AT
500 a 18.00 trading.
200 * 52 200 ar 51a
as 2400 # 5112
37151
Electronics turned rogged
British Columbia Elec. British Columible Pws, Calif. Packing Corp. Cons. Bk. of Combi, Campbell Soup Co.
Canadian Paclite IL CR (3. 3.) Co.
with some of the heaviest gain-Cat. Tractor ers onstag toward the close. Zenith, up more than three at its top, lost most of its rise in the late selling.
Ford skidded more than two in motors General Tyme tell nearly two in Its section. Chenileal slipped more three in a generally mixed drug 100680 group, nad Polaroid ground two
500 21.70 100 21.70
500 y 22
In the cameras. Steels, firm in 110 21.30 the early trading, were mostly
1.84 lower around the close.
10000
15000 3.40
. 10000 ir 5.45
2700 31.1S 9000 34.50
500 34,13
Dow Jones closing averages
#5 Stocks
40
Zonda
Cpmen. future price index
Closing Prices
Abitibi Pwr. & Poper Algen Inc. Acy...
800.30
Chielt Peabody Culgate-Paknova Co.
Crown Zelierbach Cuban Amer. Bogar
Dlamooki Alku
Diamond Gard
Distillers Scoermens Dominion Stupe
Douglas Atreraft Dow Chemicou
Dupont de
Kestern Air Line 138.18 Eastman Kodak
85.00 E P Natural Gas 108.00 Family Finance Corp
yre & Rubber 8223 Firestone Tyre
144.00 First Nat. City Dansk
Ford Motor
# 354%
Georgia Pfeifia
General Dynamics
... 1.773
1.00 190
2000
1.00
10000
1
15000
100
wero;
30 Industrials
340
Bl 3000
540
20 Hals
3.3515 Unex
Trust. XD Sungala UTILITIES
Tram......
7.40 300 JAD
1.30 1000 v 1
34 341
General Motors
Detty Oll
1611idden Co.
of protection-of nationalism in
shipping-ot a refusal to allow per cent total dividend paid for
most efficient shipping to 1059 is forecast for the current carry all the cargo it could [year.—Reuter.
secure in free.competition.”
The P and O report insisted
that "no country which claims
to follow a gond neighbour Oil tankers face
pulley in trade should maintain
an inflated mercantile marine dismal future
not only by subsidy but in pur-
ticular
by
discrimination,
whether It does so on account
ut prestige, or because of ex-
Now York. Mor. 7.
Daggerated defence requirements THE huge ocean tankor
or owing to the political pres-
sure of a shipping lobby,"
P and O also
disputed the
business, which had
such_bright_prospects during
use of double standards in rein the Suez crisia, ia in troubla ton to the protection of shipping today.
and of trade.
If you look for enough ahead, the tanker men say, prospects
The report said "Pull-scale
Marchent protection of shipping would are good, but for the next few
years, the American result in a one-way-full.
on Marine Institute insists, hauling way-empty voyage for all ships petroleum over
is the waves
business
between
all countries, which likely to be a hard 38% would double freight costs and with lots of lald up ships. Bisxd be too rilievimts to corrlain-
294
4176
B01
251
273.
28%
3927
701%
4412
General Electric
BAT
GOD 61 34,50
General Fonds
100/2
Atroma Steel Corp. ****
Star Ferry XD Yaumatt...
2500
34.20 Allied Chemicals
k
Gen. Pub. Vill
20
144
162 BOU
131
Alle Chalmem...
3216
Gen. Tyre & Rubber
2
04
147
Am. Brake Shoe
400 f 151
American Airline
2016
100 151
2:00 1 162
Am. Cable & Radio Corp.
10
Goodrich (B. F.) Co.
721
H
21.70 2100 2323
American Lyannnid ca.
Goodyear Tyrs
M
1000 1600 20
Amer. Forgn. Power
8
Grummen Alterakt
21.03
23.00
Am. Gas & Electric
Gulf Ol
21.03
An. Home Prod.
161
Hammond "Organ
27.20 27.40 2200
27.30
Am. Madli & Fary
51
Hayden Newport Corp.
600 ACCO
27.2)
American Metat
Hiram Walker ...
2720
Am. Natural Gas
5012
lomestske Mining Co.
Arrtlean Smelting
42%
Husman, Refrig.
3434 3714
235 3713
Am. Sugar Ret
EVER
Idaho Power
14500 6 37
American Tet & Tel
04xd
Imperial bl
American Tob.
103
Imperial Tobacco
SCD + 31 400
Anaconda Cepper
40%
Ingersoll-Rand
Armeo Steel
60
Inland Steel Co.
INDUSTRIALS Cement STORES, ETC. Dairy
Armour
24
laturchemical Corp.
44 #
2700 211
3000 4414
Int'l Business Machines
40615
02
Int Harvester
44.
$435
laternational Nickel
UTAN
347
International Paper
100%
Int'l Tel & Tel
343
100 i 27.50 | Bank of Nova Scotia
02
Atung-Manville Co
4731
1700 de 27,40 | Deech Life Saver
327
Kaiser Industries
1111
43
Kansas C. Power & Light
233
Kennecott Copper
78
Clark
12
In the background, there will not C. Light
much gill in giltedged.
l
And the rest? I do not see how
į
anyone can yet say that the bull Electie market is dead. But it is certain-
ly taking a breather.
With Industrial leaders now Telephone yielding an average of just over 4% on dividends and nearly 9% on carnings, it hardly seems that} the market as a whole is still too high,
Standard Trumph International expenditure looks like going up by at least another £340 million. If the public sector of economy (that is, Government and
is to tionalised undertakings) push up its spending so much, the private sector (industry and mure and me) must go you carefully.
No doubt the Bank of England this cautious to take view in the interests of us all. L-But banks are surprised that it
So do not let us become too Watson should have given the latest warning by lowering its support gloomy. It could do more harm of prices for allledged stocks, than good. London Express without saying anything to them Service.
Vatted Bwel--708 9.
Vickers LA-338 04.
Food and Tobacco
British American Tub, Cu., Ltd is right
COR .
Janerial Tobacco
11.
Co.,
MiscellanoVIS
Dardman Marden Lid-49 7150. Arti Oxygen Lid. Ord-099,
Canadian Preiße Riy-
Dunlop Rubber C-234 64. Hongkong & China Cie 148.
Ingeria Fama-00 -
(ld,
Lyons & Vollover Li8–139 0.
Paper Downter Paper Corp. Ord-60s Jú.
tl And Electrical
Asiated Electrical-CON
Faretrical & Muslea)–309.
Engles Electric Co-404.
General Electric-384.
Shipping
first,
The idea of this manoeuvre is
Some shares like Becehams. Gussle and United Drupery, are looking under-rated again.
AL the moment, news from industry is good. Most bosses
confidently of export speak prospects.
200 # 3714
Asbestos Corp.
Atlas Cons. Mining 3000 27.30† Baldwin-Lima-Ham. 2300 27.50 Bolimore & Ohio
1800 ( 27.00 | Bank of Montreal
0700 27.30 Bell Telephone
1000 ** 27:42 € Rebencial Finance.
2135L 27.30 Bendix Aviallon Corp.
500 4 27.40 Benguet Cuns.
Bethlehem Steel
20,00 27
500 $26.70
500 C 20.70
10 at 24.50
46020.70
Lane. Crow. 3716 3415 COTTONS Textiles... 10 10,10 3000 1.93
7000 e 10 Nanyang... 15.30 13.00 $900 ir 15t
17.10
to discourage them from selling Agreed merchant MISCELLANEOUS
more gilts to get in
cash for lending.
the extra
INVESTMENTS
rates
Ent,
Allied
Swiss Franca, maximum sell- the ing 75 7/10.
There is a feeling about how ever, that the bank may have locked the slable door after the horse had gone and that
In China Steam Nav, Cn. det banks had probably completed P&O Stears Navigation det ord-most of their selling of giltedged
Car18--14
151
Cat
Universal Store
199—..V..
Marks & Spencer Ltd-0074 Ich. Woodworth F. W. & Co-01 Dd. Textie
Canto J 394 1. Curtais Lidh-dhe lid.
Mines
„Cans Goldfields of South Africa-
"Cons, Zine Corp. Orl-719 D.
De Beers def-105.
Hongkong in 1944,
Petalingg Tin-10 45%
Rund-
before last week's surprise.
Lending rate
What happens now. The barks, it seems, are still taxing the view that their job is to lend money just as much as it is the grocers to sell tea. And they will cun- tinue to do so according to their respective positions.
Their ability to lend, however, is governed by the so-called "liquidity ratios" proportion of Galinitningensh and other liquid assets to
Southern Rinia Cona Lig-28a 03.
Union Cu
Win
12 KI
041
Bettish Borteo Petroleum Syndi cates 41.
Britista Petroleum
deposits.
At the last showing most were recognised getting near the
Some, like
Co.
Led-333 minimum of 30%..
Westminster and National Pro-
Transport & Trading-141s | vincial, could still beast of a
Burma-45. Shelt
ad,
-Beuter.
comfortable 33%.
H.K. & F.E.
invest. ... 16.30
Yesterday's Closing.
0 2000 84% 085 1000 6.35 3000 & 1.80
Exchange rates
80% Kimber Myers Tob. Co.
Liggett &
45% Lily Tulp
Buriness we done In the local unafelsi exchange market this incrning at the following rates: U.S. dolara, (per $1) ****** 0.72 Sterling notes (per 1
10,90
Australian notes (per 21).
12.72
Indonesian rupiah (per 1003
1.00
20.10
ticals (per 100)
State [Straits;
COMMODITY PRICES
SUGAR
NEW YORK Closing prices all in cents per
16.:
Contract No. 4 (world)
Marchi
jiny
Sept.
Odl.
Jan.
Mar,
May
. Closing
per Ib.:
LONDON
prices all
******
No. 1. He spot
Settlement house term:
Dec.
Mar.
May
July
Dec
Mor April/June
Clet/Dire Jan./Mar.
Litium Ind
Lockheed Aircraft
Loews Incorp, ....
Lone Star Cement Co.
Lowenstein & 9. McDermott McDonnell Aircraft
Minnesota Mining
Balon Development Moltons Bewery
Monsanto Chemical Co. Montecailal
Montgomery Ward Motorola Inc.
National Biroult Co. National Cash Reg. "A" 101 | Natkeal Patry Prod.
National Lead
34-3412
Nalona) Steel Corp. New York Central
Noranda Mines Lid
Norfolk & Western Ry. North Amer, Mition
Ca Malleson
Cis Elevators
201
1614
pinte.
The reason is a glut of ships
"The problem is world-wide, and a glut of oil. Even a few of the brand new super-tonkers 80-thousand tonners-are lold ib.
3 created by governments and
2016
soluble only by them.
"The USA have been giv- 42ing the lead in the wrong direc
Д
Some never have hauled 214tion in the direction of add single barrel of oil to start pay- 39ing more and more discrimina-ing off the millions their owners tion to its existing differential Invested in them. One 05,000 tonner has been idle since it 3015 subskes.
super-
"Other countries have follow was finished in August, 1958. On
theso at least two of eci. In our particular trades, tankers, the shipyard owners India has gone the furthest to
as the operators were stuck, discriminate in favour of her who ordered them falled own flag shipping," the report take delivery. said.
All-out effort
to refit liner
to
One ordered by Greek mag- mate Aristotle Onassis lay com- pleted in a Delaware yard for a year before it finally was soldi to another buyer.
Yot only a little over two years ago, port authorities all over the world were worrying about where they were going to And the hundreds of millions of dollars they thought they would NE of the most intensive need to deepen their channels
ONE
London, Mar. 8,
ship refits over under-and build docks to accommodate taken on the Tyne is reach these super-tankers. There was ing the peak in the 28,790 even worry about possibly hav- ing to dig another Panama Canal 401 gross tona Orient liner to accommodate them.
3912
Owen Tinold Ch
Chicra Paper Co
Pacine Gas & Mec
Pan American Airways
172
Foram Plottare
ETS2
Parke Davis Ca.
113
SAO PAULO
(Closing prices all in cruzdles berJuly/Sep
klo).
Mar * 1.8, at ii, design. Average prigo in ated spot markets: $205 cents.
Total sales: 20.083 bates.
LIVERPOOL
in perice
Penny JC. 0. Penn. Salt Co Philip Mazin Pitner
Procter &
Cable Co.
Pittsburgh Plate C
Pabicker Insta
331-33% Pure Of...x
334-331
2236-3272
Radio Corporation
Radio Corp. Fro Raytheon
General markets, -ci.t basin, Reynolds Metal ports: Mar.
BLOO
9432
GAL
041
things.
CX-
Orsova qt Vickers Arm- The port problem, ultimately
was solved by the simpla strongs (Shipbuildera), Ltd.
are now pedient of running pipelines out About 2,000 men engaged on dayshifts, night beyond the harbours and letting shile, halfshifts and weekends the aupertankers unload in deep to install a complete air con- water.
Now the tanker fcets of the ditioning plant and carry out extensive accommodation whole world have the problem of finding enough buálness. It's alterations.
When the vessel soils from not just the high-woge US. dag All over the Best that's hit. the Tyne on March 12 after less world; tankers are laid up for than eleven weeks at the yard leeks of oil freight that will pay the will have been fitted with rates they can be operated on.
of new 77 tons
refrigerating The flug-of-convenience fleels machinery, 47,000 fept of new
of Iberia, Panama, Honduras But plping and 70 miles of new and other small countries -
electric cable--among other whose tankers are largely American-owned are said to the All 71f cabins in the first and bo lilt almost as hard no Acurist classes and crew) U.S. flag fleet, although exact quarters will hovo air con-i figures on these pre not easy to
of ditioning.
the got Many
Merchant |passenger cabins will have been" The
altered
provide private Marine Institute, which is a telleta and showere,
trade association of 'U.S. flag While in the Tyne, the Orsova shilpowners, estimates there are has spent three weeks in dry five million deadweight tons of docks for ntting now stabilisci tankers laid up throughout the world right now-744,000 tons fino and shafts-LPS.
of this .. flag tankers. The In- active US, fing tanker tonnage Jumped 56 per cont in 1D5D.
In spite of bad business and low freight ratón, the Instituto sbid, the privately-owned U.S. flag, tanker tonnage increased in 1950 by nipo vessels to 343 or 0.6-million deadweight tons. The US, owned flag-of-
514-319% Republo Ster
2
Royal Book of Canada Rheer Mfg.
2014
141-3444
Bears, loebuck & Co.
Closing
per lb.:
prices all
American Contrues
April
31.63
in pence April
feter Estate crepe thin April
thick April AMSTERDAM
3331-34 23-332 30% 30%
Shell on Co.
Saterway Be
Sumt Reg. Paper
Scott Papot.
776
Smoth, Kare & Frerich
21.35
21.75
March/Aprit
21.70
Aliked Centract
No. 1. rubber
No, a rubber
March/April
21.40
Nei, & rubber
No. 1 brepo
July/Aug.
Spot-FAS Cubs)
Sales: 449 contracts"
Open Interest: 1,312 contraçja.
Control No. 6 (domestle)
July/Aug Oct/Now Dec./Zon
May/Jura
March
May
July
Sept.
Nov.
Total Bales: 330 contracta Ösen Interest;
Spoi—ICÍL. NY, “szędulyj
2,750 contracts—
Oct/Nov. Dec/Jam
March/April
P.O
R.M.S. "CANTON"
EMBARKATION NOTICE
For United Kingdom vla Singapore, Penang, Colombo, Bombay, Aden and Port Said.
EMBARKATION: Passengers should embark between
UFI.
COTTON
NEW YORK
Closing prices all in cents per i
--- 2:30 and 4.00 p.m. on 11th March,
1900.
15.
Spot March
SAILS:
At 5.00 p.m. on 11th March, 1900.
May
July
Fot
BAGGAGE:
Should be sent to Hongkong & Kow- loon Wharf Co's Godown (No. % Gate) 10th of March, by 5.00 p.m. on 1960.
Dec. Mar. May July
Dec
(BUBJECT TO ALTERATION)
RUBBER
rubber futures closing
Closing prices all in guidéra
per kilogram, cl.f. Mar.;
Sinclair ON....
Socony Mobil Out....
Solar Aberaft pane Bouth Puerto Rico Supa
920 buyere Bouthern Co. (2000), ***
3 buyers Southern Nettmal Gay 3.23 buyers Southern Hallway (Com) 350 boyers Sperry and
-UPI,
FOREIGN EXCHANGE
NEW YORK
Closing rates:
+
60-days
NEW YORKE
England Metal
prices, all in cenia per lb.
30-days
39.20 nom.
Mar.
20.00
Aurrells
330)
May
New Zealand
$13.00
July
30,00
Both Africa
Repl
34.10
Д
Nov,
37.50
Juta
37.00
30.00
31.31
Bar
30,00
00.70
Closing rules: Struila New York
Mostreni
NEW ORLEANS Closing prices all in cents per
Sport
Macch
May
Juty
Del
30.00
Other unchanged,
LONDON
HINGAPORE Closing prices all in
conta per Ib, tob. Malayan
177-Sta
Copenhagen
302-102 | Pazin van 1745-1980 | Atookholm 23-1144MH STAFF | Vinnen
No.
2
No. 1 phá
porto: Ifn. Mar, No. 2 Mar,
No, 4
Blauttel, crepe.
April
kpl rubber wihaled
b
Blonderd Oil & G
Bleed Co. of Canada
Sleep
Hterling Druk
Co.
Stokely-Van Camp.
Blond & Webster
Bludebaker-Packard Corp. Swift & Co. 2. Texas Co
Textron Ine. Thlokal Chem. Tida Water Oll Time. Įregi
Traders Finance
Tri-Coal, Warrenia
Twentieth Century Fox #}}m 18000 Untos Crabide
3.7950 Union Of of Cal
2.0043
2,245
Union Preine Italiway
F17900
United Aircraft
210000
United Fruit
Sinster (78% COTP.
U.B. GʻDIUM Us, fine Co.
U.B. Rubber U.S..Smelting 0.80 1/15-2.00 9/18 380 7/15-2.45 9/10 Werner, H.
[7.8. Steel 10873-10,071
Waukesha
195444-19.34% 21.0015-11.00
13701-13705
fotore ** Westinghouse Air Brake Westinghouse Decla Western Union- Tel. Ons West Va. Pulp a reper `Winn-Dixie Atown Woolwork (R. WJ Bentz Jadio
Remote TV for London Airport
American
London, Mar. 0, convetilence feet is believed to N experimental closed be half as big as the UA, NES Arutal, loud be th
!
tem has been installed at During Um your many now London Airport to determine tanie wern delivered which had been ordered at the time of opitia whether the control of air- the Suez
under the craft' parking can be im- programme. At the time, the guvesanunt permitted proved.
IL Lys the marshalling the sale or trade to foreign re- supervisor visual Information, as gistry of old tankers built with to the numbers and disposition government old if the American of the airepit, Two television operators would agree promptly, omantras have been installed at i to build new and more efficient f the top of lighting stands, one ancora
2016
The Insitute paid the low at either end of a maiti porking arda - a site chosen because i trellit raden on patroleum and
direct le out of his vialoh.
line of
Песацие ar
the shit of tonnage pro making the restricted multip not knposible for vision, radar-telephone As been operators, of alder dikker to replace or used in the past to determine it fineling the parking position.IPS. mydoryjee their decidUPI.