Page
Page Z
THE CHINA MAIL, THURSDAY, APRIL 14, 1960.
UK's ECONOMY IMPROVES
HONGKONG STOCK EXCHANGE
by
Qui Own Correspondent.
Business done at the Hong- kong Stock Exchange this Horning amounted to approxi- mately $2,783,(IR, Noon quot- the morning's
and
INSURANCES
H
transde linn
Whares
13yra Kel)Pri
Spes
BANKA
TIK Bank.
1200 1256
10. 1250 40 (201
249 12949
VOL. 992, 1
SPRING
Wheelock
̈ [:
DOCKS, C.
K
Wharf
170
201 179
100 g 1:52 100 YA
25
Duck..
LEDU 183,
L
Provideot.
Paka
1500.3 12200 13
LAND, EIT
Ak Hote
22. 37 BUX 57
HK Land
Humphreys 2120 247,
11. G
Good revival
London
in investment
closes
Wall Street declines on
and industry
The United Kingdom economy continuos to present an encouraging picture of sustained expansion. Industrial pro- duction and exports reached records and last month reserves
rise to
began
again.
Sterling continues to be strang, Jamary.
new
Imports from the in the international exchangestorting area rose by 10 per cent,
growth ui Imports markels, Prices have remained Ts stable for nearly two years. In- natural at a time of expanding į
in manufi.claring in-, industrial production and helps vestment dustry shows signs of a welcome the UK's suppliers to Increase So Their own purchases abroad. long as they remain fully eat- pelitive, as they are at present, U.K. exports are likely to go on
revival.
dull
London, Apr. 13.
TRANSPORTATION
BRITISH JET
profit-taking ENGINES TO BE
New York, Apr. 13..
Selling hit the market late in the day slashing. prices of stocks tlint had been lifted in a two- day rally.
Chemicals,
motors,
Prices dropped in duil pre-
Easter markets today! and good company newa failed to spark any res. ponse. Business ebbed' numerong “Individuál features: Faintly France Corp. with buyers keeping to the, that had starred on the upside First Nal. Citi Bank sidelines.
was were the target for the selling Ges. Pus. Un Selling
which had the appearance of small.
prodi-taking
Steels stayed Arm in indus- but engineerings and trinis tobaccos were weak spots,
Government bonds stayed quiet but went fractions better Greek Issues where changed. turned easier after their recent rles, otherwise foreign bonds fucked, features.
On the other hand, there are indications
inciplent labour shortage in some areas, jegoeindly In Loneint and the rising.
Sthands, althoug
The maintenance of a healthy in others,
nti balance of payments is now notably in Scotia, Wales
necessary than in Dollar Mocks were irregular templog- even more Liveruna.
with steels going harder. ment is markedly above the former years in view of the in-
continental Further United creased commitments which the! Lavenate for the conury.
abrond. selling turned golds easier but undertaken Following the interim rallway UK. has
assistance. mainly they got off the bottom shortly Settlement (providing for a 5 Government
n pariini per cent wage rise) and with the to the less developed countries, before the bell in
the Commonwealth, has recovery, implementation of the
Coppers lost more ground and haud report which will about doubled over the fast two years double this re), there is a risk and there is a large and grow diamonds sugged. of a general upward movementing flow of private
Gullie
in wages which might threaten the stability of prices. I cannot that the be entirely ruled out
121.13 regources of the country 1,500) 4 13, 246 th
again be overstrained later on it. action is not taken in good tire In moderate the pace pation.
1
1
NUDEUR ABC.
4.
Tred
Sungai
.4.1
UTILITIES
To
91 312
1*...
Stud Tray
151
152
150. 12
Yasunati
100
170
300 $30
499 170
02265
1) 176
FAVOL.43 1080 22.90 25032 )
ר כף .. ואי
2730 271% 2200 2 2140
Spare capacity
12-
Int
But the situation is very rifernt from what it was 1955 when strong disinflationary
nad to
measureN
10.
investment
to overseas countries, mainly in the Commonwealth.
Consumer goods
Tas outlow of capital can be, maintained only if the UK. has) a surplus to spare That is why I suttetent vrilume of savings is important, not only to provide į for investment at home, but al for investment overseas,
ilene demand has increased
Oils again moved narrowls; to end slightly better on balance. Rubbers and teas were dull. UPI.
Closing Prices
Giftedged Bonds British Transport 3 24-11/16.
Consols 40-11/0 Consols 4-£70-317:0
Lo 3 Converslutt
Funding Ivan
OP.
Stock 3, Funding
Loun
co
1070/81
and E Paro Natural Gas
Firestone Tyry of ther
a
Gulf Oil
rubber
strich (B. P. Co. Grummen Aircraft
1stants! Organ
nestake Mining Co. Inuho sh
Puwe Interebenfend Corny
| zuternational Paper
Polaroid, recent upside leader, slumped more than eight points in the wake of a company an- pour.cement that It will bo long thine before its new colour Is marketed. Schering Drug lost around four points on lower earnings report. Steels,
lower feres anticipated reflecting
yet,
operations for one time had losses ranging past a point. in US. steel, Lukens, up nearly two points at its best, turned to
fractional loss.
a
Motor had losser ranging to pot in Central Motors. American Motors. however, held its gain of a point.
1 Manville Ch Kimberly Cines Liggett Myers Toi laiton Ind.
Lower & Sons. McDermott Jay
Mesnil tron Cern Mensunto Chemical Ci Montepti Motorola ine
..
173
National Bult Cu National Dairy Prod National Steel Corp, Norfolk & Western Hy. North Amer. Aylation1 Northwest Airlines (Com.)
Oktahama Nat. Ons Olle Mathieson
| Owen-Ilinols Gluas
Today's volume was 2,730,000 Oxford Paper Car #hales.
Of a tolal 1,203 bucs traded, 448 were higher and 5310 lower
Dow Jones closing
43 Stocks
40 Bonds
were:
30 Tabtrials
| 20 Rails
16 Villies
1909.
1950/00
1900/2004
1000/---
Funding Savings 3, 1050/65-90%. Savings 3, "1200/70-£70. Saving I 190/75-73 Barclay's Ennis "A" Lid ord
be taken particularly for consumer goods £00-1/10. Thanks to the industrial investor this was shown in expand- ment carried out in recent years, Totalt males which have key there la sill enough spare well. 2027 capacity.
esoreially in 1993625 cpital goods Industries,
mit a substantial rise in 30 duction, Thus, the rise of Bank! 500 14.30 Rate to 6 per cent towards the
Eleclic
12 11 12
T1
SEXOX 36
IK P
1350 14
INJALESTRUALS Vement
ETCHES, ETC.
Dary
WHING
1. TOW
CCTTONS
13
243 24.10 27 40
Net, an
MISCELLANEOUS
#10420
1- pro-
Last year was notable for a in durable consumer hoorn
hire- goods, sold largely on
vul- purchase. The total deut ganding on hire-purchase con- tracts rem from £570,000,000 30
1000 11 14.20 end of January and the with the end of January 1950 5000 / 14.30 Krawal of nfelal support for the | £873,000,000
21501420
50343
14.30 ilt-edged market a month later 200 14.19 were certainly not intended
put an end to expansion, but
regarded as they could be signal to the ranks for caution 202595 in the further increase of their grown advances, which have 223027
cuel of the steadily since the "eredit squeeze" in July 1958.
Towards the end of the year, there was a sharp recovery of 1410 | exports to the sterling area and an acceleration of the increte in exports to Western Europe. Exports to North America wers
2000 - 9.79
10
1410
300
2000 0.00
Gt.man
INVESTMENTS
214.
45
Allied
7:13
45
2000. 2.15
5000. 7.29
3300 7.30
GOON 14 7.35
10200 + 7,40
SUN
7.40
1 X
invet
12 40
300
25 30:
5v
1500
15
if mot
to
at the end of
January 1960. As the debis in- eurred have to be paid back now, it is to be expected that the rise lo the outstanding debt will slow down and this will help to slow down the growth or domestic demand (provided, of course, that there are not ex- cessive wage increases which would allow the repuyment of old debts and the incurring of new obligations 1 the samej time).
Industrial production is higher than a year earlier. Steel pro 18 per cent higher than a your duction Tore to 471,000 tons earlier quite Al noteworthy week, an all-time "high". Pro- soduction of motor cars was at an achievement, even spectacular as the 23 per cent annual rate or 1,500,000. Over increase achieved in the feet ton the past reur, expansion of in- months of last year.
| dustifol productión extended to- Total imports tose also by 11 att banches with the exceptiona 1520 per cent over a year cariter and of shipbuilding ariel
£307.000,003 irinig.
reached
eval-
NEW SERVICE TO TOKYO VIA
OSAKA/KYOTO
kazit
Chartered Bank-60s. Hongkong-£63. Lloyd's Bank "A"-50 ed.
Janurance
Union Insurance Canton-£51. Aircrail and Motor 15ritish Motor Corp. Ord-200 $50. Ford Motor Co 3d.
awker Siddeley Group Ond-30% Rolls Royce Ltd Ord-40 Del. Standard Triumph Laternational
11 105.
34.
Urrueries
Taillere Co-33 454
South African Breweries-- 9. 1ing and Materials Asociated Portland Cement-68 Goodings Wall & Lead Ort-018 3.
Coal, Steel Engineering Baboock & Wilcox Lu-400 30. United Steel-194 3.
Vickers Lud-32% 140.
Food and TobaCen British American Tob. Co., Ltd. 000d.
Imperial Tobacco Co., Lid-330 od, Jarman Marden Limés Jl.
Ltd. Cred-89 4.
British OxYECT RY- $40.
Canadian
De tue Co. Last.
Dunlop Rubber Co-2
Gilman tolday Lid-2s Tid. Honitong & Chins Gas--lia Bú n.
-600.
Imperial 100 155.
Lyonn &
Unilever Ltd-1478 "%lyd.
l'aper
Bawater Paper Corp Ord-12# 04.
Baulo and Ricetrical.
Associated Electrical-60 3.
Flectrical & Musical-bim,
English Electrip Co-30 Dd.
General Electric-360 DU,
Shipping
Indo-China Steun Nav. Ca. det ord-Zip
Comm. futura price Index
Closing Prices
Allied Mills ne
Am. Brake Shoo
American Cable & Radio Corp
American Cemal Co.
Am. Gas & Electrie
Am. Home Prod.
Ant such, & Fury Ampex
02
Pacific Cian de Elec,
Penny J. C. Cu. Philip Morrin
Pretre&Ganilde Co. Pure on
Indio Cury. Pref.
Sacway Stures
SHOWN IN NY
CONWAY by-pass jet engines are to be displayed
by Rolls Royce at the British Exhibition to be held in New York in June. A major achieve- ment of British aeronautical engineering this type of jet engine was first patented in Britain, by Sir Frank Whittle, and was developed to opérational status by Rolls-Royce Limited.
It is now generally recognised crudines is unique, amounting type of engine, to over 11,000,000 hours in ser. as the correct for jet transport aircraft, and vice, more than 80 per cent of most aero engine manufacturers the total hours flown by elvli have started work on their own jets and propi-jets in the West- versions of the by-pass engine. ern world.
The Conway is already in ser- vice in Boeing 707-429 and Douglas DC-B/40
1
gives
jetliners, in Boac links Dusseldorf
Considerable
economies n weight and consumption
over
73
97
which
101
2
-18
100'4
1252
50
FI
431
fuel
comparable with Far East
pure jet engines. AirBnes
In Brazil
(Vorig), Britain
(Boac), Canada (TCA
and THE British Overseas Air-
THE
CPAL), Germany Lufthansa). ways Corporation this
India (Air India), Israel (ELA) week
Italy Alitalia) have all
chosen Conway
739
and
401
49
their big jets.
35%%
40
engines
resumed services
for through Düsseldorf dfter on
absence of theoo years with
and
This engine also draws allen, jet-prop Britannias tion to Britain's part in the Comet 4 jetliners. The Bri-
D
started
twico
to Beirut,
Royce war again the pioneer in weekly service this field, with the Dart engine, Teheran and Dolki on April the world's first airline prop-2 and to Beirut, Karachi
"R-R" badge on
has and Calcutta on April 6,
Comet services · at Two many operating to Australid each week through the heart of
tiverages
825.30
Royal Dutch
344.43
Sean, toebuck&C
30.47
Shet Of Co
13.00
Bait Reg. Paper
JAPA
149.15
Siegler Corp.
0771.
Introduction of jet and prop-
Scott Paper
IFI
South, Kine & Froch
et engines to airline use. Koils-tannias
Rola Alterafl
3 304
South Puerto Aleg Sugar
101.
Southern Co. ornej
101
Southern Natural Gas
34
Southern Railway (Com.)
jet.
171
432
Sperry Rand
2122
10315
Bindebaker-Packard Corp.
14
keen
The Dart engine nacelles
familiar
(12
Sundne Mining
U.S.
airports.
343
Textron Inc.
215
yenry
NOW
sight Car Vickers OIT
ikul Chem.
417
Benefietal Finance
24
Tide Water Oil
2007
Time Inc.
Trayclers Inc.
70%
Boving Airplane
237
Donien (The) Co.
45
Twentieth Century Fox Fut
Ulaten Oil of Cal
40
Calif, Packing Corp.
Humoughs Add Martine
1131
30
United Fruit
Case (3, 1) Co.
13
United Gas Corp.
20
hey
U.S. Line Co.
20%
U.S. Steel 7. P.C. PF
14414
Waukesha Motors..
4022
Westinghouse Electrle Western Union Tel, Co.
283
4222
103
-UPI.
Pakawin-Furn÷Ulam
| Bendix Aviation Corp.
Benguet Cons.
Cal. Tinctor
Celanese Corp.
CIT. Firandal Corp.
Clyett Peabody
Colernutes, Carton Co.
Coniserelal Chydit
Continental Car Bougies Alterait Dow Chemtent
40
| West Va. Pulp & Peper
Wu-Dixie Stores Zenith itadlo
COMMODITY PRICES
RUBBER
SINGAPORE
Closing prices all in Struts rents per 15. Lob. Malayan
ports:
No. 1 Apr.
No. 1 May
No. 2 Auir.
No. Apr.
No. 4 Apr.
Spot rubber unbaked
Planket crepa
No. 1 pale crepe
LONDON
Closing prices all in pence per
PO Steam Navigation diet ord-lb.:
Great
Stores
Universal Stores "A-40
Marks & Spencer Li-ion cd.
Coats PLUS kl. Courauide Lich
SUGAR
counts, and more recently.
Vis-
<371
Fairchild P-27's. Executive air- the Ruhr steel area.
craft users also know the Dur!
as a powerplant of the Crum Farewell to
man Gilstream. This
Now
miles-with
flown
more
engine than
5,000,000 hours or 1.250,000.00 the Argonauts
15 airline
30 other operators more than 437% in North Amerleir,
Other Holls-Royce civil jet
} {
A
are
FAMOUS type of air- liner-Woll known to
and prop-jet engines have been air travellers in Hongkong→→ ordered by airlines all over the has just made its läst fight world, The Avon jet, power-
4 and the Sud Aviation
plant of the de Havilland Comet in Boac colours. It was a Canadair Argonaut, and the Caravelle, has been ordered by final flight from Abadan to seventeen airlines, including London mörked it with- United Air Lines of Chicago drawal from regular Bode
who have order 20 Caraveltes,
Nolls-Royce <rigines power service after more than 11 more than half the elvli jet and years. prop-jet
aircraft in service or In that time, the altine's on order in the Western world, et of Argonauts, dying on and have been chosen by more services to and from the Far than 70 alelines and 50 other Eart and Afrien carried mirre and NEW YORK
The company's ex than 830,000 pos, engers, operators Cloring prices all in cents per perience with civil gas turbine now nearly 107 million miles.
11-100015
110-116
117-119
lb.:
May July
Contract No. (world)
2.$8/00
1345-11512
Sept.
112-1131 | Del.
1.32
3.10
1109-1199
Mar,
1,48
-
May
124-130
Total Sake contracts.
Contract No, G (demesile)
Mar
$1.34
July
Jus 7:24.
Apri/Sune
No. 1 Res spot ........... Settement hose term:"
34-341
Sept. Nov.
5.01
4.91
339-25%
Total Sales: 18" contracia—AP.
Bd our
Jufy/Nept.
Ogl./Dec.
Woolworth F, W. & Como 34.
Jan./ur.
Texlifes
General markets, ca.f. basis, party:
Apr.
མ་
May
HATHI
METALS
Mines
Jane
Cona Gaidelda of SouÜL Africa-
03 7130.
Com, Zine Corp. Ord-740 4150,
De Been def-13 door.
Hongkong Tin--f 44d.
¡
Rando
Dd.
Petaling Fin-7′′ 7igd.
Southern Kinta Conu Liú,200,
Union Corp-654 3d.
Wert Drictontein Goldmineg-1585
British Bomeo Petroleum Bynd!- cote-la 10%.
Brition Burman Petroleum-24. Brit Petroleum Co. Līd—06#. Flurmatt-15% Od.
Shell Transport & Trading–1514. -Reuter.
Rubber
Estate ernette thin May
thick May AMSTERDAM
Closing prices al in fulldera
per kilogram, c.1.1. Apr.
No. 1 rubber
Nu. 2 rubber
No. 2 rubber
crepe
COTTON
NEW YORK
Closing prices all in cents per
33.02
LONDON
Closing prices, all in sterling
per long fon.
Tin spot
3-month
3-month
NEW YORK
3.35 buyers
Closing prices, all in per ib.:
cents
3.32 buyura
I ad
3.30 buyern
May
LUPI.
July
Zinc
MAY
July
Copper
20
July
11.45
11.57
30.17
20.37
buyers sellers
7371% 78732
75415 700 20415
243%
PEOPLE
IN YOUR POSITION
should have a
LOMBARD BANKING PASSBOOK
Now 4 flights weekly to Tokyo
2 DC-GB flights via Osaka/Kyoto
2 Electra flights non-stop in five hours
Now, tourist visiting Osaka, Kyoto and Kaba can ny DC-60 direct to Osaka from Hong Kong, and businessmen dre saved the inconvenience of firsť Journeying to Tokyo before arriving in Osaka.
For faster travel-Hong Kong to Tokyo non-stop
Is a mere Ave'hours by 400 m.p.h. prop-jet Electra-
fastest prop-jet in the world;
All fights are presturised, air-conditioned, radar equipped
and have Chinese & Japaneso čablo staff iis süvendance.
BE SPÉCIFIC FLY
MOND
B.departe 7,himi. fort
Talpeland Ojaki
WEDNESDAY Probadat Electra departs
2 pm) for "Taliya nanistop
FRIDAY
DC4B departs ? a.m. for: Tokyo via Talpe) and Osaka SATURDAY
Prop-Jet Electra doğares 13.15 p.m. for Tokyo hon-stop.
cathay pacific
Booking Officus: 17 Chater Road, Hong Kong,
"AIRWAYS LIMITED,
Peninsula Hotel, Kowloon,
Passengers: 76646, 62407. – Freight: 12722, 64045 and major tourist agencies,
ARNOW
16.:
34.19 nomi.
Copper spot
Spot
market
May
July
Lend ist hal?
30.06
Abr.
12.14
Dec
July
MAK
31.12
Zine 1st half
Singapore, Apr. 13.
Mas
Apr.
1140
July
July
Overcast tedivices fractionally lower and after opening slightly down, market ruled very quiet noon at about lani nights loveis. The afternoon continued featurelen with amali
we
30.23
Oct.
Mar.
20,75
10,00
the
NEW ORLEANS Closing prices all in cents per
lb.i
21.00
Apot
move-
37,01
May
mola and few exchanges.
Lowers were nedected
32.07
July
FORDICA EXCHANGE
30.04
ani Oct.
30.07
Lec.
31,14
In London, the rubber market May w quiet with spot quoted at July *4-3/10 pence.
31.30
31.40
Oct.
Dec
20.73 30.63
30.75
Canad
NEW YORK Closing rates:
England
official
M-days
South Afrten.
Olkers unchanged.
22.29
27.10
Closing rates:
New York
21.03
Montreal
P
the market closed very quiǝt.
In Amsterdam, the rulerstor market was dull today-UPI.
Exchange dates
unaofal exchange maiket morning at the fuliowizz-rates: 13.89. dollars (per $11. Sterling noted Cont" "A1). Austrailers, notes (pen.)) .... Indonesian rupiahy, (per 100) Siam tical (per 100) Bingapore (šumus
LIVERPOOL,
Closing prices all in pence ir New Zealand
ib.:
Amerleari Conléket
May/June
July/Aux
Oct Nov
Mixed Contract
This Mar/April 3.74 May/June 10.93 July/AME. 12.03 | OV/N17.
£5.75 | Mar/April
Frankfurt
Paris
Biockholm Vlastn Zurich
LUNGARO
BANKING
LONDON
1.030/10
2,000
29010
2.2000
20140
1.4-2.11 7.71% 77099 140.02140.02%
13.7432-19.7414 148157-1950N 15.30-75.18
1.20-18.1038
UPL
A Bank Deposit Account with Lombard Banking
hot only brings you 53% per annum Interest; it also denotes your business acumen. frcarest paid withuns dieducțion of United Kingdom trgomma tar Write today to the General Manager-for your copy „of " Bank Fiepqeit Account” booklet No.
NO.74
LOMBARD BANKING
LIMITAD DANKERB
Bend Big......
LOMBARD USE, DURZON MTREET
PARK LANE, LONDON WI
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