THE CHINA MAIL, THURSDAY, MARCH 24, 1900.
THE U.S. HAS
Gas Co. dividend
London, Mar. 23. Tho Hongkong and China Gas Company declared a dividend of 1/- per share, com- pared with 101⁄2d. proviously.
The capital is to bo rounded off to two million shares of 61. Bd. by the issue of 79,980 bonus shares on the basis of ono for twenty-four. -- China Mail Special.
London
closes quiet
London, Mar. 23. The nearness of one budget kept buyers to the side- lines today. Gold shares staged a rally after their heavy two-day sethnek after South African riot- ing.
Industrials moved irregularly with good company results
Steels helping several issues.
inte move"
the truck with engineerings, but motors turned dull. Tobaccos, breweries and textiles hold Brm.
Government
benda sharød were the quiet market and mixed while foreign bonds ro- mained file and featurelem
Dollar
storka carned
Domy
plus signs on Wall Stroot's im-
proved swing.
Aran started
but
at the appearance of
Coppers
turned
the bell
Oils were
caster and went
fraction up today.
tans contimod
Rubbers and mong headway but rubborg vley belo their best of the day-UPI.
Closing Prices
Outedged fonds Brilish Transport 3%, 254-9/16.
Combi 21-40-15/10. Conly ——¿ï70%. Conversion Luin
Funding Leon
A03-13/16
忠
Guarantees for short-term
credits proposed
By an Economic Correspondent
Lond on, Mar. 23.
Two ostensibly unrelated news items make significant reading. this week. Both omanate from Washington.
Star
NEW IDEAS
HONGKONG STOCK
EXCHANGE
by
Our Own Correspondent
Business done at the Hong-
kong Stoke
morning proximately
་
Exchange
this
to
NY MARKET RALLIES ON GOOD SUPPORT
New York, Mar. 23.
AP-The stock market moved out of the doldrums today
amounted
$4,431,000. Noon quotations and the morning's Fransactional
..
i
for the first time in a week. Prices rallied on strong spel Foods port toward the close with Gene Motor
General Dynamics olectronics, metals and scattered "Den. Pub. UM. 18 @ 1250 oils and steels spearheading the gel Tyre & Rubber
Goodyear
Share Buyers Bellarm
DANKS
K Bank..
Malen
1244 1280
104
20 1250 11233 100.202
The Arat says that President, tain for instanco -- that America Elsenhower has proposed to will impure no effort to sharpe
0. competitiveness Congress that the Export-Import the. Bank should provide
a fresh exports. system of guarantees for short-
There can be little doubt that East Asia. term credits and should also this will causo at loost UD INSURANCES
nt
Valent Britain where provide medium term credits,
casines in Second is report that prosent importa shows of Lonbard Washington has heartily en increasing faster than exporte. SIUPPING
Wherlock dorsed European commun
DOCKA, Etc. This will be the more acute markets (the Sixs proposals to
K. Wharf.. because the British Governmenİ
Dock speed up tariff reductions.
has made pretty plain that Bri- signifestan's exporters are getting as much fancial help as they are
koly to receive.
The Arst
let America's intention to do some thing about the $1,000 million trade deficit for last year which Is so exercising its top econo- mic brass.
The other Item is rend as a measure of America's anxiety about trade deficit and the ex- tent of its determination to re- dross it.
In brief, the United States is planning a major export drive
Tant of Itself is a healthy America's history seni,
of protectionisan being more con- retreat behind ductive Lo barriers of import restriction.
n
Providem.
XD
rise.
The industrial stock average scored its widest gains slice March 16 and its righth advance out of the last nino BÜROONS.
balanço Motors Ammed' on following a prediction hend of Studebaker-Packard Derp that
the car industry. 95 200t would have a good sales your
120
188
1.40 1000 #735
IDO
100
Takro Dock
18.30 1000 sa 10.20
)
Bi
100 or 623
}
50 4 60%
Хр
of
Nor does the British Govern- ment intend to become involved LAND, ETC.. in a credit race with any other HK Hote major exporter. This Wholesome economic point view but it does little to runesuro British traders, faced sharper American compolition.
with
HK Lan
** AN...
каж
In this context tho reported Humphreys displeasure of Brities traders at America's backing of the six's Really new tariff proposals la under.
RUBDEN glandable.
Ameig
Goodrich (Bl. 3.) Co. rumen Aircraft
Gulf Oil
Hammond One
Hayden Newport Cap. Homerlake Xining Co.
International_Kipice)
16
Idaho Power
Inland Seal Co.
70
by the
Ingersoll-Itand
JOAL
Int Business Machines
Iral Harvester
1031
Int'l Ted & Tal...
IDIL
bernational Par
114
Johns Manville Co.
|
Kanson C. Power & Light. Kalmer Incastring Kimberly Clark
Interchemical
Liggott & Myers Tob. Co.
the pent up demand for American motors compact care. jumped 1 point and Ford, Chrysler and General Motors a half or more.
International Business Mac-ton Ind. 2514-300 hines gained more than six in the alectronica And General Timo moro than threo, Bech- man
announced Instrumenta that sales and caring this your were expected to top 1050 and the stock jumped more than 1.75 in point.
2300 + 354
to 221 00 10000
39 ค 60
21.30 81.40 500 350 1.70 1.75 7000
1.50
6.43 0.00 DOC 5!
41406511⁄2 1300 01
A few months ago, the Amerl- cans were expressing concern at the economic-even political Clearly by la reference to division of Europe, foreseen a the Export-import bank the result of the existence of ram XD 34 President Eisenhower intends two rival trade blocs, the Six Star Jerry.
Westom that the American Govtra=;| (France,
Germany, Youmati XD auch AD | Italy,
and C. Light Holland, ment should back
Delgium export drive to the hilt, This Luxembourg) and the European bank provides funds
the for Free Trade Association or OYCTSDAS only on condition Seven (Britain, Sweden, Nor- that they
aro used to buy way, Denmark, Austria, Switzer-
land and Portugal). American exports,
This is legitimate enough But it indfeates to manoeuvre.
- Bri- other mujor exporters
Record U.S.
aluminium
output
ony
Their conon for western unity was sald at the time to be
that Linged with anxiety get-together of the two bloca should not be much as to affect American traders adversely.
•
2000 20.40
Electric ....27.40 2746 1300 60 m
630 4 27.90
2000 N 28.80 5000 म
2000 27.00
1000 2750
500
7.40
30 Industrial
20 Ratis
d5 Blocki
Comm. future price index
Closing prices
Amer. & Foren. Power
American Tob
Anaconda Copper
Armco Steel
Armour
Am. Gas & Electric
Ans. Homy Prod.
At Mach. & "dry.
Am Bugar Ref.
American Moti
| American smelting
American Tel. & Tel. Baldwin-Lime-Ham. Beneficial Finance Bendix Aviation Corp.
Con
Lockfreed Aircratt Low ONDA KA Lane Bar Cement Co Lowenbelas de Bona, MeDynott J. Ray Melonnell_Airerart Monasto Chemical Co.
Montecatin
Motordia Inc.
Montgomery Wand
National Cash Reg. "A" 23.00 National Lead
National Biscuit Co. 14341ational Dairy Prod. 33 National Steel Corp. 203.77 New York Central
0272
145.37
Norfolk & Western, Ny North Amer. Aviation
Northwest Airlines (Com.)
| Osin Mathieson.
Qua Beyartzen.
Param Pictures
Marilus קונות
sat | Khell Oil Co. ....
Safeway Stores
Saint Steg. Paper
Scott Paper
Bingiair O
* 40% | Smith, Küine & French
Airlines agree on
lower fares for jet travel
THE LA.T.A. Traffic Conference at Paris accom- plished a great deal on what was an extreme-
ly complex problem. One of these problems was the "tidying up" of the various conditions and classes of travel.
Because of the high speed of seating denslides agreed for the the jet the carriers generally tourial service. agreed that it was unnecessary Apart from ensuring that seat-
to provide either berths oring densities in the newer types sleeper type sedia in jet air of aircraft-particularly jets-
established at
economy 3 craft. As a general principle, were
where the samo turo is to be levels the Conference did not Bli charged on both jet and pro- malto any changes in the other 0013
peiler aircraft, propeller aircraft conditions applicable to the low fwill be permitted to offer more fare services even in cases where
spacious accommodation in first the fores themselves were mate- class configuration and, when Į clally reduced and economy ser- operating services at economyvice were introduced in place
the 30 fares, will retain present of tourist services.
for A big attraction
trans- Atlantic passengers who wish, tor keep their trayal budget as low as posible is offered in the new excursion Lore between
15
Swissair to double
flights to HK
York and London of
Now £114
round trip on propeller driven Aircraft on economy services or
SWISSAIR is to double its £125 on jet aircraft, valid dur- |ing next winter. A round trip 19 flights serving Hong-fans of £106 159. will be avail-
kong. And yesterday two of ablo on propeller aireratt be-
airling's Planning the
and |tween Montroal
London. The present ectnomy taro is H. Nicole, £105 return Officen→→ Mr
Ground Operations Mana-
ger, and Mr E. Moyer, HIGHEST CLASS Station Planning Manager,
Mr Meyer and Mr Nicole are York and London in the highest making an extensive tour of the class of service the same DS luxe fure. In Far East to verify the basic the present de arrangements which have been future the higher class of travel made at the various stations for will be referred to ometally as the airline's ground hundling." "Arst class" for jets and "Arst Said Mr Moyer: "Becmaso of cins/sleeper seat for propeller the growing popularity of our aircraft. The term "do luxe" will be offerings being, completely abandoned. service.
There will also be a first einsa propeller fare st
38 flights weekly to Tokyo, weakly don for propeller driven
15 Ules
40 Bonda
Trut
UTILITIES
****
7.00
7.00 248 7.00 1000 7.65
Allied Chemicals
#31
Owen-Elite Glaes
Allied Mills Inc.
30%
167
104
Am. Brake Shoe
2330 2312 2500 47 23
American Cable & diu Corp
4500 23.40
Allis Chalmer....
Cexford Paper Co. Puolla Gam & Elec. Pan Amertone Alzwec
12500 23.50
American Cyanamid Cu.
Parko Diyle Co,
20200 GP 27.00
4300 23.70
104
Penny J. C. Co.
118
7500 GP 23.80
6234
Perm, Salt Co.
20
600 23.50
200 ve 23.60
374
Procter & Gamble Co.
500 g 23.50
B1
Publicker Industries
100% Pure 01
102
arrived from the Swissair fare bas un an headquarters in Zurich,
The carriers established
amount of
£178 one way botwoen New
500 2343
200 23.3
54%
Republic Steel
2
Radio Corp. Pref.
23
24 Rheem MEG...
Bears, Roebuck & Co.
Ent
10
58
*
442
7031
14
56
2
Sceony Mobil 011
307
443
South Puerto Rico Sugar
10
between
Southern Co. (The)
121
344 Beuther Natural Gas 20%
36
051
5314
Standard
giandard Brands
Southern Railway (Com.) Sperry Rand
48-1
223
more frequent flights Europe and Eastern centres.
"We plan that there will be (presont figure £187) one way three between New York and Lon- ovnilable from Europo
£137
air-
Standard
of Ind.
Standard Oil of NJ.
45%,
to Bangkak, two flights a week eating.
to Manila, three weekly flights craft with normal
Bird
cipss
103
Studebaker-Packard
to Hongkong. Calcutta
twice;
DOTD.
137
proval, Karachi
three
Limes service
日
Техди Со
71%
weekly.
L
Nanyang..
9.70 300 2.6.73 9.75 Gro @ 0.73 14.70 14.30 2090 14.30 1000 14.50
442%
20
24
Thickel Chan.
"We are here in
Hongkong only
057%
Tide Water Oll
20%
301
Time Inc.
for Swissair's
Tri-Cant. - Warranta
90%
23 serving the
Com- Colony, to
Twentielli Century Fox Film
of
MISCELLANEOUS
2264
Union Carbide
mence in May."
1063
Vibro
Union Pacife Railway
26
drive
Express
to *
El Pero Natural Gas
30
Valon Git at Cal.
INVESTMENTS
Int
0.00 10.35 2000 62 7
1500
6.95
Family Finance Corp. Firestone Tyre & Rubber
First Nat. City Bank General Electric
United Frult
2346
361
817
United Gas Corp.
3041
United Aircraft
30%
DO
101
The proposals of the Six now- endorsed by America are in essence that reduction of internal Telephon
July, tariffs, die to begin in
should be increased from 10 to
20 per cent and that workte should begin straightway on determin- ing a common external tarii.
INDUSTRIALS Cement
Dairy
35.73
37.30 | Rotstool
30 4200 0 30.29
1700 6 36
83 28.25
4500 37.73
...40% 445 200 4%
1000 44
Since members of the Seven STORES, ETC.
..... 20.30 20.00 such an said to believe that
31.40 steps can only emphasise the Watson... division and discrimination ira Lane. Craw. European trade, they plainly corronS New York, Mar. 23.
Trotties endorsement And America's Production of primary dificult to reconcile with its
aluminium in the United earlier concern for unity,
in February
Nor could they be blamed for amounted to 156,826 tons interpreting this as a sign -largest volume in the America's determination
its export domestic industry's his- make tory for that month-the success. London
Service. Aluminium Association
Slates 1970/88
16. 1968
3' 1909/
311% 1900/2006---
4%. 1900/90-
reported.
The figure
Funding Luan 9141. Bevinzo 3%. 1906/08-290}). Savings-3, 1900/70-£7-13/14. Savioga 3%. 3909/70-179%
Banks
Barclay's Bank "A"
Ltd or{) £}£2
Chartered Bank-Ule 3d.
407.
Hungkok-a
Lwyda
Insurance
UNION Insurate Canton-24-3/10.
Aircraft and Motors
Dish Motor Corp, Ord-211 9.
Motor Co-m 10d.
Sudeley Group Ord
Hawker
31 d.
Rolls Royco Lit Arden Ih Hooten Ltd "A"-100 Mash Riandard Triumph Internaton21----
Breweries
11 Ext
Distillera Cod,
South African Brewerico-2 ch
kuliding and Materials Associated Purtland Cement-13 10144.
compared
with 142,410 tons in February, 1950. On a strictly, volume basis, duo to the shuri month, February output of new metal declined
the four percen from about revised January tatal
the 104,024 tons,
Aspociation noted.
However, on a straight pro- duction basis,
actually represented an increase in operating levels, it added.
Production operations February averaged 84.6 percent Industry's of
effective of 2,330,300 tons
la
Doodians Wail & Lead Ord-annually, against 82.0 percent in
Coal, Steel and Engineering. Bock & Wilcox Lid-to St.
Btool-Bim cor.
Vickers Lad-346 740
Food and Tobacco, Britists American Tob. Co., Ltd Cfg Del.
Imperial Tobacco Co., Ltd--720. Miscellaneous
Boardman Marden Lid As Thi British Oxygen Lid, Ond-99% BC. Canadian Paciño Niy-940.
The La Rise €20. J.ks, Orú-uri. Dunlop Rubber ComZia 30. Hongkong Chhia One-li n Împer Al Choraleak 51a 1550. Tyon & Comile 82.
Unilever L40-190 19:40.
Paper Bowater Paper Cory Ord-70% 04.
Hadio and Electrical Associated Electrion)=5a Electrical & Dow
Engay actrio Ca-454 Bd. General Mecisio-30 d.
Shipping Indo-China Bam Nav. Co. de! ord-20m od
P&O Steam Navigation def ard- 42 Gut.
Great
Etores Universal Stores "A" Marks & Prive - Wootworth P, W. &
Textiles Chala J P. Ligu398 5.
BOY.
Courtaulchr
Mines
Con Goldfields of South Afries
74, 30.
Cons, Zine Corps, Ord-cm DÚ.
De Dears del 155 116.
Hongkong Tit6-U# 435d,
Petaling "Ti-Ta" (47.
Rinta Cons Ltü-200.
Gyldenining
Union Corp
West Deletonteba
011
Cat Petroleum Byndi
Drilled
Briti
"Burmah Petroleum. Co., Lảd–974,
the capacity
January.
Association wald Tw higher operational level
pick-up Bected the start of à In activity which is currently scheduled to
increase
Yesterday's ClosingTM
500 m 2611 250 D 201
240 8.10
Boeing Airplane Borden (The) Co. Burroughs Add Machine Baltimore & Ohio.. Call. Packing Corp. Canadian Pacific R. Chrysler Motors Cluett Peabody Colgate-Palmolive Co. Campbell Soup Co, Case J. L) Co. Chi, Tracker Calance
POTFinancial Corp.
Colombian, Carbon Co. Continerari "Ok" of Del.
Crown Zellerboch
Cuban Aamer, Bugur Dlamand AikaḤ Diamond Cord Douglas Aircraft
Dow Cherriical Dupont de Neinours Eastman Kodak
COMMODITY PRICES
SUGAR
NEW YORK
Closing prices all in cents per
May
COTTON
RUBBER
SINGAPORE
Closing prices all in Siraits conta per th. Lob. Malayan
11944-11934
Sleep Rock ................
Burine Mining
Swift & Co.
Textron Inc.
US. Gypsum
UA, Rubber
US. Emelting
UA. Bleal
Ü, S. Line Co.
US. Biral 7 P.C. PF
It was agreed that the present
end, subject to Government ap-type of North Atlantic tourist
wil continue unui July 1. 1960. After that
the śwo
to conclude the arrangements aprelco "first
extra flight "economy will
classes of close"
and
bo astered,
Basic croomy fares for jela
were greed on a basis of 298 "And" said Mr. Nicole, we 8s. (present fare £91 155,) ona and are also here to ascertain if any way between extra planning will be neces- London and sary for our proposed jet oorro £91 16a) one way between vice through the Far East and Montreal and London.
New York
200 148, present
Hongkong. We plan to have; Economy class travel on pro-
3 discussions with the local supeller aircraft will offer still
33
27
of
Mr M. J. lower fares. From May
Beptember 30,
thorities and the Director Civil Aviation, 4096 Muspratt-Williams,"
Warner Bros.
Waukesha Motors
Westinghouse Air Brake Western Union Tel. Co. Westinghouse Electrie
30
514
504
West Va. Pulp & Paper Winn-Dixie Stores Wockworth [K, W.) Zenith Rello
to
this year pro-
Swissair's present light schepeller economy fees will be £7 dule to I ingkong comprises one less than the basic jet economy esalbound service arriving Sun-Bares (a cost at £87 103.) and 2 days and end westbound service from the end of this period 45% coparting Tuesdays. The now through the winter to Morch 31. 944 | fight will operato mid-weekly 1961 thoy will be £10 18s, less and will double the airline's than the basic jet economy one passenger operation to and from ) way taro (a cost of £34) Europe.
The Conference renewed the
offer present reduction
for family travel in the off season
104
---UPI.
World plastic Black Diamond
production
ships for Orient
has trebled THE
London, Mar. 28.
on both classes of service,
TO THE EAST
Farez
between Europe and
the Far East arti Australasia Now York, Mar, 23. were satisfactorily agreed with
Black
from Diamond offort
October 1. The Steamship Company, glass fares will be increas
ed by a small amount while the Lourist agent for
gandral
fares will be reduced
14:11 World production of plastic has C.T.O. fine, announced to between 6 and 10 per cent over trebled in the last ten years, day that Penang will become the same scotors, Fares on jat
NEW YORK
Closing prices all la cents per
1tv.:
31.00
Contract No. 4 (world)
the It-
March.
May
Spol Hay 3.04.00 July 3.13-14) DA
ports:
12.14
37.20
No. 1 Agri ..............................
30.01
May
30.03
No. 2 April
1193-1101 118-1101
July
3.10
Dod.
31.14
No. 3 April
174-11031
Sept.
1.19
Kar
No, Apri
Col
4,19
May
Spot rubber umbaled
Jan,
3.70
July
30.01
Blanket crepe .....
new
MENT
Oct
30.01
No. 1 pale stene
30.01
*
LONDON
SpoFAB. Cuba)
Total Bate: 07 contracts.
Open interest 0,079 contracts.
Contract No. 0 (domestic)
Max.
May
15.00
Spot May
July
Sept
Oct.
Nov.
Spot-Caf. N.V. ex-duty) 85
Total de 307 contracta Open Interest:- 3,354 contracte.
MRT.
Mar
July
Oct.
metal output in 1060 by about, six percent over the 1959 record of 1,953,019 tons.-China Mail Spreta1.
Decline in UK unemployed
London, Mar. 23.
The number of unemployed in Britain fell by 37,000 between February 15 and March 14 to a total of 418,000, according to Ministry of Labour figures loaned tonight,
This represents 1.9 per cent of Brilain's estimated number employees.~Reuter,
But
Exchange rates
umeri
was dona
memben (ber B4). hone
at the following ratesźm
METALS
NEW YORK
NEW ORLEANS
Closing prices all in centa per lb.:
Closing prices all in ponço për
Jan/Mic.
32-331
Genees markets, c.lf, þask, portal
341-45
** here tonight.
瘟
a British Industrialist" said a regular port of coll In their and propeller aircraft will be
the ramo but there will be Far East Service. Dr R. Beeching, developraen!
seating differential favouring The GTO, ling has repub director art technical director service to Mania, Hongkong, propeller alreraft,
of Imperial Chemical Industries
No. 1. spat
341-344
Seltlement haune term:
34.00 nom
Apt/June
July Sept
30,01
30.03
32-
31.90-
After MAY I, this year that this in Saigon, Singapore and Bangkok. 1777 Limitöd added
will be added with there will be a special excur Ponzang crease had been reflected in
sion fare from Europe To British plastice production which the sailing of the m/s Tohoro
Tho
31.95
April .....
Tate De
thin April...
59.50
J
BAO TAIL All unquoted, (Closing prices all in cruzeiro per kilo)
Closing prices, all in cents per cents.
Ib.:
Lead Mar.
of
May
gina Mai.
MAY
Copper Mat;
May
LONDON
20.30
Average price in UB. at 14 designated spot markets: 32.04
Total sales: 21,280 bales
LIVERPOOL Closing prices all in pence per Fb:
American Contract
March/April
Bay/Junie
Closing peken, all in^eierling | 2017Aug. per, long lon
in 11 ineal in spot market th 24nrith
copper pos 5.73
10.39
sterling Hours (per 21) Australian noted. (per 2:1)
+th
June
Indonesian rupiahlom zo0) * 1.79 wg and half Mer.
Oct/Nov. Dan./Jab Sellers r/Apti
Mixed Coniravi
Skill March/ARNI
BRA MAY/201
July/Aug,
Litch April
"AMSTERDAM
Closing prices nil in guilders per kilogram, c.lf. April,
No. 1 rubber No. 2 rubber
No. Ə robber No,
crepe
3.35 buyers 3.33 buyerA 5.30 buyers 587 buyĕra UPI.
FOREIGN EXCHANGE
NEW YORK
: Closing ratesý
How, Evalmist
had also trebled. He was lec-from Borios on March 28 for attract tourists to India, Pakis suring to the textitution of Civil southern U.B. ports, and then, Ceylon and Nepal. Engineers on plastica in
en-Orient-UFI, gineering.
Dr Beeching told the Institu Modifications to
tion: "IN Bellain, thermo- plastics were only a third of the total output in 1960. Now they account for nearly two- thirds of the present May --- total output, which is approxi mately 500,000 tons a' year.
In to the
output of
Boeing 707's
Singapore, Mar. 23,
expuraton terma will provide for parties of six OT more Travelling together on O.DI
| invclusive" toUn basip with
of [« · reduction
22 Dex tho normal faros, ount on
Between Europe and Africa first class faron will be · paland from October 1, while tourist
up to 10 per cent.
oxcursion
reinture is still quite small ALL Quantos Boxing 707's maced in general by
will be modified 10 | Special · round trip steel in terms of weight and the they can take off on shorter i fores will be introduced between volume of steel.
Africa
points In The Increase runways, a Qantas spokes-South in steel output since 1850 has than said on Tuesday.
Europe, including the UK. been less than 80 percent cor
und
Bir N. C, R. Gaille, Qunntas They will have a validity of 90
pared with a 200 percent in gales Manager for Southeast dign with reductions of 10 per crease in the output of plastics." Asia, set a powerful turbo. cent, below the present tourist
-China Mall Epecist.
did mat
fan device will be fitted at the fro front or vachi Jot engine thus The Conference on 18 per cent shorter run- tions within Europe, the Midlo
A Ways.
East, the South Atlantic or the Celkie told many more air. Worlere Henlepharo ús, these parts would now be abɔlo" to | kad glavady been sɛreed" at the Bwder France: Mersiyyan - well- - | Hindia the 207% as a result of Franc Conterapie in Hängtatu
the impending chatent/p1: iday autizma.
Agreed merchant enabling the plates to take off discurs in detail fares or conelf-
rates