THE CHINA MAIL. WEDNESDAY, MAY 4, 1960.
London ONE OF BRITAIN'S BIG BOSSES
closes dull
ALEXANDER THOMPSON
HONGKONG
London, May 3. Industrial issues continued their recent slide on the stdek exchange today when insufficient Investor demand developed to counter small scale selling pressure.
British government bonds im- proved on investment buying. Gold mining shares were quiet- ly Arm. Diamotels and coppers limproved slightly. Dia Hut - bunted in arrow range but wased higher at the else.- AP
Closing Prices
Giltedged Bends
Miltish Transport 80!
L'onania 218~~~£47-7/10.
Coment
Conversion
£12-1710.
LWY.
وتوری
STOCK EXCHANGE
by
Our Own Correvanndant
Bumiress dore at the Hong- kong Stock Exchange የና morning amounted to xbmnicly
$2,430,000. Noon quotations and the morning'u Transactions:
INTERVIEWS THE
NEW 'MR UNILEVER'
Mr George Cole, relaxed and genial, sot back in his green velvet swing chair. behind a big empty desk. appro- At 54 he is the new "Mr Unilever". He has just taken over from Lord Heyworth as head of this huge soap, margarine and food combine. Now he is one of the biggest bosses in Britain. "he first time I became a "In the United States they boss was in 1924" he realled as consume five times as much of we talked in his high-ceilinged them per head of population as room, looking out on Irlar's Bridge "But the cls- gumstances were rather dir- ferent.
Biyer Rellars
Calex
101520 100 125
201
1 .. 1300 1230
DANKS
East Asia..
INSURANCES Union Lombard £9700A-grwriters
Black wo du."
K
Frozen food George Cole railled out sume "I had joined the group year earlier Junior clerk figures to prove his point. In 1959 the males of quickfrozen in the statistigni department of SOD
in Britain tolalled only one
companies. The food manager was
suddenly called 3.5 million. away by the rst Lord Acver- 14 huline to 20
the Delglan Congo with him.
47
RO
12.20
700 R 47!
SUPPING
Waterbuat
LOAN 3
62-13/10.
Partr
Loun
Fonding Stuck
Funding Lonn 4
1960
1960/CD-
2. 1900/2004-
1500/90-
Wheelock
Ent:
7.35
7.10 13500
2:00 23 2020 2014 730
DOCKS, ETC.
K. Whart
200
Dock
130
10
Provident
21-30 2112
362 21 709 21.00 2000 4 2035
Savings 3% 160/70-1
IK Hole..
30 %
3800 21.40
5:00 30
Lid ord Land
29 09:
*600 in 2012
600 S
200
Humphreys
20 23.60
300 20.00
1000 on 23 34
Iteally
1.926
1.05
Sabugs 2%. 2005;65C00-7/10.
Savage 3, 185/75-TRAN
Banke
Barclay's Bank "A"
54.
Cch.
Catered Bank---508.
g4
Luy Hank "A"--59 34.
Inauren-5.
Urium Insurance
Aircraft and Motori
British Motor Curp. Orc-1f.
Ford Muter Co-103 1
Hawker Skeley Group Ord-23
Rolls Royce Lid Ort-2 d.
24 LN "A"-?0% £!«.
Standard Tritonph International- i
11 1.
Breweries
Distillers Com 358 $14.
South African hewerds--22.
50023.30
وی این گوشت
Great fun
"I was teft in charge of the department and its 19 girts. was great fun."
I
his
comes
بيان
Wall Street registers
advances
big
Stocks registered their sessions, scoring one in months.
New York, May 3. first advance in eight of the widest advrneCS
Volume increased caly slight-! British Amer. Q ly on the advance, however, In- eating a technical adjustment rather than the start of any ses- tained buying movement.
Brukers noted the recent de. cline had left many prices at altructive levels. They added that the lack of any substantial follow-through an the recent decline
could well meas that support will be forth better
British Columbia Elec. Cati. Packing Corp. Cata. Ek, of Comm. Cana. Brewers Campbell Soup Co. Canadian Facile ti. Case (J. 3 Co. Cat. Tractor
Celanese Corp. C.LT. Financial Corp Chase Manhul. Bank Chrysler Motors Chuett Peabody Colgate-Palmolive Co. Colombia Carbon Co. coming.
was halted for 25 Commercial Creat Trading
ag Consolidates Edison minutes In the afternoon
Consolidated Paper the investment communis
Continental Can ta an participated
Continental Oil af Del. Crane Co........ alert. The break failed to in-
an most! Crown Zellerbach terrupt the advance Issues infabed on or close to their highs for the day,
uir raid
3
Laut year they had risen to $30 million. In 1883 it Is va- that they will reach timated
93 lilion. Unilever
dominating bas a Position in this new trade that casier for makes life so much
About 70% of pl housewives.
Electronics stood out DS the frozen foods you can now
particularly IBM up buy in shops and supermarkets froup,
from
"Birds-Eye" more than eight polnis, Texná Instrument up around Ave, and side.
then talked Collins Radio and General Time Jovial Mr Cole about animal feeding stuffs, an-up around four. other important side of Unilever business.
"A great amount of growth
411
said. he possible" for
moment's Has the group reached the te paused
but possible limit of its expansion? I asked hought. "Not after the smiles from his early probable" he added firmly as he 10034 reminiscences had died away. titted back his office chair.
The
300 1975 200000 $99 30091.95 19000 1 1.00
100075 |
RUBBER Amalg
7.40
7.45
10000 ve TAS 1600 7.45 2000 7.43
Trust
8
9.10 2000
$
300
UTILITIES Tra
323% 3302
Cement-GJS
500 33 300 30
1000 33
1003014
Star Ferry.. Yaunati...
100 EBA 170 180
B00198
LEH 10
Building and Materials
Arsulated Portland
4!nd cut.
34
Goodlo Wallend Ord-Bos
Coal Steel and Engineering
Babrock Wileas L—35 740. United Steel--TOR.
Vickers LK 04.
Food and Tobacco
Brit American Tob. Cu.
ZDA 45.
Imperial
Àรูป,
Tobacco
C. Light XD 20.30 23.40 2000 23.45
Lid- Electric
Cu Elisäks
Miscellaneous
Duarda Marlen Ltd 4s &
Lt. On-144 91
Britiche R-44
Canadiali
Dr Rue Co. Ltd. Ord-63.
Dunlop Rubber Co--20 3d
diman Holding Lided 758.
Hongkong & China Cau-100 fd n
Imperial GEMEA)-030
Lyu
76d.
Unilever Lid 14 d.
Radio and Electrical
Aglated Electrical-24 DC, Electrical & Musical-43a9d. Engins Electric
301 Bd.
General Electric-3 04.
Indo-China
- 4.
Shipping
Steam Nav. Co. def
PD Sicat Navigation cef ord- 400 24.
Si
Debenhams, Oid. Laden Jul.
Great Universal Sturva "A"-4754 4lad.
Stark & Bpencer Lid---73» Dd. Woolworth P. W. & co-s11 90.
Textica
Cost & P 14-20 3. Courtaulds Lid-60% 7390.
Mes
Cone Goldfickis of Bouth Ateres--
00% 15.
Cons, Zine Corp. Ord---75# 714d.
De Beers cef-140 7511-
Hongkong Tin-de did.
Hand-70s.
Petaling Tin-is Du.
Southern Kinto Cunn Lt3–266 Dei,
Unloa Corp-du 6.
Weat Driefontein Goldmiting-
07 N
Today George Cole in new job has 290,000 employees to look after. Asset worth £750 million are under his care.
He is a big lively man who has climbed to the top
of Unilever ladder the hard way.
15:
After all, in the last ten years.
record is vertainly en-
Since 1940 the use the record has been pretty | couraging.
animat feeding staggering.
of compound stuffs in Britain has risen from The
2,313,000 tons to 7,724,000 tons.
Lurnover учагіу
has
200 2330climbed from £989 million to 500 2340 £1,707 million. Trading pro-
20.90 29,10
132 20.93
10000
1100 500
9.5 26.00
300 120.90
500 20
70 20.00
Telephone
38 30
17002012
500 z 30%
HK Qad
14.20 14.30
INDUSTRIALS
Detent
4012
Ats have more than doubted at
£113 million.
Expansion
Said Cole: "I have
no
Ex-
30048 204ECTaled ideas that in the next deende we are going to expand
100030
130 6 14.40ke an explosion,
100 4.30
200 14.40
710 14.30
Qur "In some of
Dividend policy
I asked him about his divi- dend polley. He was reassur- Ing.
"People do not invest in our company to get excitement stock exchange" he said.
30001439 like margarine and other fats 1950-that we have
140 N20)
3.30-14.30 are possibly near 220 14.20Imit at least in the 200 14.33 market,
370 1420)
73141.29
70 14 23
100047 461
500 47 1500 or 45%
200 10
STONES, ETC Dalry
20.30 2.40
700 2016 Sou
Watson ... Lane, Crow. 30% COTTONS Textie
38.00
101 10.60
1734 29.40
540.28.41)
22
500 28.30 100 3030
1290
5200 10.50 1000 100 4000 10 GO
MISCELLANEOUS Gilmang... 2.273 INVESTMENTS
.3%
Int
14.00 2.03
1000214 2000 1 2.30
TODO 150
2000 CO
G 80
BK. & PE
Invest....
British Borneo Petroleum Syndi~ [ Allied XD
cules.
મા.
British Burmah Petroleune=21,
Britan Petroleum Co.. 14-02
Reyal Dutch Petrolman-14
Shell Transport & Trading—146,
Beuter.
Agreed merchant
rates
Canadian dollars. selling 16% minimum 17% T/T; 17 3/16 0/D.
1000 #65 100.90
1000 of 10%
Exchange rates
Win done in the frent exchange market
unofficial morning at the following rates:
the top back a great
homes cach year.
have shown "But dividends progressive increases. I helds | i will continue that way." "But there are other which I believe st offer huge
scope.
25
an Aner. Sunr Delaware & Hudson Co. Damond Alkoh | Diamond Gard
Distillers-Beakronis
Dominion Stores Douglas Aircraft Dow Chemical Dupont de Nemour Eastern Air Line Eastmar Kodak
El Paso Natural Gua Family Finance Corp. Festone Tyre & Rubber First Nat. Cily Bank .... Furd Metor Co. of Cana, Ford Moter
Today's volume was 2,930,000 shares. Of a total 1,216 Isus 699 were higher and traded,
luwer. 316
American exchange was 1,000,000 shares. volume amounted to $4 780,003, | General Motors
Dow-Jones closing averages
were:
30 Industrials 20 nas
15 Utilities
63 Blocks
40 Bond
Comm. future price index..
volume
Closing Prices
Abilib!_Pwr. & Poper Aldea Ing. Acy, Algoma Steel Corp. Allied Chemical
American Airline
Georgia Parifie General Electric Bonds Goner: Food
Gen, Pub, UMI.
Gen. Tel. & Elec
Gen. Tyre & Rubber Giely O4
607.73
130.71 Glidien Co.
68.80 ieh 1B..) Ca.
261 52 Goodyear Tyre
24 Great Northern Hallway
140 20 rulersfi
Hammond Organ
Heyden Newport Cup. Hiram Walker .................
ק
30919
Shipbuilding shows little improvement
London, May 3,
THE subdued improvement in the placing of new tonnage, which was observed in the closing days of last year, was maintained in the first quarter of 1960, when, the Shipbuilding Conference state, British shipbuilders secured orders for 53 ships of 196,000 tons gross. This compared with 253 ships of 55,000 tons gross placed in the first number of 23 quarter of 1959, showing the
ships but of increased tonnage,
00
70%
1309
6774
100
4412
الله
587;
134
47
same
In the
to the end of months to the end of March, year March, 1980, the total bilake of orders for 16 ships of 227,000 orders was 198 ships of 400,000 tons were lost by cancellation ions aves, which comporc with, The Shipbuilding Conference orders for 158 stripe of 511,000 ↑nd thai a number of yards ore tuna gross in the 12 months to all fuced with gaps in their March, 1950
preduellos programmes because
A feature of the new work is of the deferment of some exist-- that much of it was obtained in¦ing contracts pending an im- face of severe foreign competi-provement in the outlook for co tion.
and scycral shipowners shipping-China Mall Special. have stated that British prices were more favourable than those
quated from abroad.
Some of
this work has gone to shipyards Airlines' bid for
New Orders Received
3
30xd
FOR%
Husmor Restrig.
27ake Mining Co. 4Idaho Power
1031
1000
190 ships
460,000 Lg.
1950
150
14
511,000 t.g.
292
1050 207
1,120,000 t.g
1057 382
40
1050 379
P
*58*
Impartel On
Imperia Tokuroo Ingersoll-Rand
Inland Steel Co.
18 Interchemical Corp.
50%
In Business Machines
int Harvester,
International Nicket
International Paper
L' Tel. & Tol.
Fun-ble Co,
Kolsar Industries
Kannad C. Power & Light
12 months to end-March
2,750,000 t.. 2,372,000 tg
Total Order Book
10231.3.00 471 ships
4031.3.59 602
66% 31.3.58 703 11 -31.3.37 890 31.3.56
122
new management
Washington, May 3. MPLOYEES of Capital 24 Airlinos have started a 4,044,000.g.proxy fight to unseat the 5,103,000 tg present management of the 6,331,000 t debt-ridden company, which 0,741,000 g thoy say has givon "poor
Leadership."
5,303,000 1.g.
with serious gips in their pro- 4duction programmes, and in at least two cases to firing who had
on
All Chadme t'u
Am. Brake Shoe
so much "We have to find
for development money
since activites busines-£530 million
to plough deal of our pro-
American Cable & Radio
of
COTU
American Cyonerid Co
52%
Amer. & Foren. Power
Am Gas & Electric
Am. Home Frul.
185
Am Mach. & F'dry. Azleen Metal
70
24
hope
Am Natural Gas American Smelting
Benecel Copper
48
Kimberly Clark
721%
Am. Sugar Ref.
23
Liggett & Myers Tab, Co.
03%
American Tel & Tei
88
American Tob
$4
Lily Tully
Liton Ind.,
Ampex
3
Lockheed Aircraft
213
Anoconda Copper
01
ปช
Arinev Steel
012
Loews Incorp.
Lone Star Cement Co
2014
Armour
32
Lowenstein & Sons.
172%
Asbestos Corp.
McDermott J. Ray
412
McDonnell Aircraft
13
Merek...
GARD
Mesabi Iron Corp.
50%
Minnesota Mining
Misulan Development
41
Malsens Brewery
21
441
Monsanto Chemical Co.
ayed
254
Montesini
409 2741
Bendix Aviation Corp.
Com.
Montgomery
Ward
Motorola Inc. ...
138
40%
"Dealing
we do in con- sumer goods means of course insulated that we cannot
against prvovanie trends.
"I see no reason however to expect a charge in the recent paltem of our progress,"
What
directions in are the which the new "Mr Unilever" sees most chances in the com- came His answers ing years? quickly.
Besides being Chairman of Unilever, George Cole is also
of Vice-Chairman how Dulch partner Unilever,
What are bls sparetime hob- bles? "Being a family man" he said.
His home is in Kensington, He has two children, a fourteen year old son with a scholarship at Eton and a daughter ninc.
Aus Conn. Mining Baldwin-Léma-ilam,
Bakimore ds Ohio Bank of MonATOR! Bank of Nova Scotia Beech Life Savets
B. C. Tel. Co.
Bell Telephone
Benefeld Finance
Success in business and happy at home.
What more could any em Steel Boeing Alphare "Frozen and semi-prepared man want?-London Express Borden (The) Co
Burroughs Add Mechino foods are an example" he said. Service.
Yesterday's Closing
COMMODITY PRICES
Binar
this
ન
buying | kim tionis (per 1001
Singapore (Strata)
17 S. dolins (per $1) Sterling notes (per £11 Australian notes per Indonesian rupiah (per 100)..
5.70
Dec.
16.90
l
12
100
SUGAR
200
1.30
maximum
Oct,
Dec.
Mar
SAO PAULO
86668885
89952885
per
NEW YORK
Closing prices all in cents per
All unquoted.
(Csing prices 1 ka cruzeiro kilo).
Average price in US. al 14 de- signed spot markets: 32.id cenia. Total sales: 12804 trales.-UPL
RUBBER
ib.:
Contract No. 4 (world)
July
Bejt.
Dci.
Jan.
Mar,
Contract No. 6 (domestic)
July
5.34-99
Sept.
0.91
Nov,
Spot (C.14, NY. ex-duty) ..
1.17-18 5.05
Toini Sales: 129 eontracta
PO
R.M.S. "CARTHAGE"
EMBARKATION NOTICE
For United Kingdom via Singapore, Penang, Colombo, Bombay, Aden, & Suez-Port Sald.
EMBARKATION: Passengers should embark between 2.30 and 4.00 p.m. on Friday, 6th May, 1960.
May
Spot-IF A S. Cuba)
Talal Sales: 37 contracts..
Open interest: 8,167 contracts,
Open Interest: 1,235 contracte.-UP1?.
COTTON
NEW YORK
Ithires rubber prices. all in cents per lb
Itex
July
Batate crepe thin May
National Biscuit Co. National Casti Reg. "A"
402 National Dairy Prod.
National Lend...
33
National Steel Corp. New York Central
3316-33%
thlek May. 38 AMSTERDAM
Closing prices » in guilders
per kilogram, cit. April.
All unchanged-UPI,
METALS
Noranda Mines Ltd. Norfolk & Wastern Rty. North Amer. Aviation Northwest Airlines (Com) Oklahana No. Gas Olin Mathieson
Ofis Elevators Owen-Illinois Glass Oxford Paper Co. Pacific Gan & Elec. Pan American Airways Paramount Pictures Prike Davis Co.
Penny J. C. Co. Penn. Salt Co.
Philip Muerla
Pitney Bowes
Procter & Gamble Co.
Pittsburgh Plate Glass
Publicker Industries
Pulimin
Pure OU
LONDON
Closing prices, all in sterling sægler Corp.
Mr Charles E. Beatley Jr.. President of Capital share- helders group sald they would
To new construction in hand, reek an immediate stockholders Industry's total order meeting and push for election Look at March 31, 1980, slood at of new officers and directors
The
471 ships of 4,844,000 tons EON C the company. Present 80% of which 67 ships of 773,000 tons directors were re-elected two
weeks ago. gross were for foreign owner- 1942
current 10% ship. The estimated
77
Capital President David H. value of all this werk is £605
Baker sald he would have no million.
comment on the Association's In the first quarter of 1900statements unh he has time entraels for live ships of 55,000
to examine them. 643 tons
were cancelled, grosa
Capital
is being sued by which compared with five ships Vickers-Armstrong
Ltd.
for Dits of 02,800 tonte gross consoled US$33,200,000 it still owes on 70% In the first quarter of 1050
a feel of 60 Viscount turbo-jet and with 14 ships of 183,000 airliners it bought from the tons gross in the same quarter Briti am in 1955. The bult 1068, Altogether, in the 12 could lead to foreclosure notion
on the planes.
10%
Effect of Arab boycott on U.S. ships
Mr Beatley, who thus been a Capital pilot for 17 years, zakl his Association will ask Vickers to postpone foreclosure until a new stockholders meeting could be called.
We believe the Association was a logicat plan that will be Washington, May 3.
acceptable
Viciters," Stato
Department said. "Our plan would allow
A spokesman today salon
to
he
without fore-
that the Arab boycott of clorure." Ho gave no details.
Mr Beatley said the Azsooją- 30% U.S. Hag vessels is hurting tion had only about 300 members
com- but we've been gaining by (about 100 a day" and now has Press officer Lincoln White about 1,009 members. sald cargoes tu the eastern Altogether, Mr Beatley eat, Mediterranean Area are to the Association members hold certains extent being diverted about 20,000 of capital's 900,000 322 to foreign fag vessels. He said shares, but hope to rally sup- 41xdepproximately 10 U.S.-flag ves-port from enough other stock- 015 sels have been diverted to non-holders to elect new directora, 10% Arab porlo during the past three [...AP.
Tadio Corporalion
72%
Radio Corp. Pref.
70% American
shipping
Republic Stori
Reynolds Metal
001 Panios,
Пeyoke Tobacco
Royal Bank of Canado
07
Royal Dutch
30
Rheem Mfg.
Bears, Roebuck & Co.
49
Shell Olt Co.
Bafewer Stores
Saint Her Paper
Scolt Paper
per long lon:
ginal
OU
42
Buyers Sellers
Smith, Kline & French
days.
KEA
Tin
Boler Alteraft
1044
Spot
707
780
South Puerto Rico Bugar
3-monti
201
782
Southern Co. (The)
40%
Southern Natural Qer
3434
Copper
closing
Spot
20314
204
Southern Railway (Com.)
transit through the Suez Canal. -UPI.
Stander Brot
4116
3-month
250
40.00
30.20
Lead 1st half stay
Standard On of Cal
Standard 0% of Ind
Aug.
70%
7015
Standard Qui of Nă
Zing 1st halt May
And now its
of tourists
Sirel Co. of Canada
30.00
Aug.
BIT
Sleep Rock
31.00
m1,69
37,00
However, Mr White sild. no
American ship has been denied Customs clearance
Mer
July
Rept.
Nov.
Jat
MAT.
May
SINGAPORE Closing prices all in Strafta centa ter b. fo.b, Malayan poris No. 1 May
No
Apot rubber unboled...
Banket crepe an
Closing prken all in cents per
lb.
NEW YORK
Ilar
BAILS:
The ship is expected to sail at 5.00 Pm, on Friday, 6th May, 1960.
34.15 Botn. No. 3 May
33.22
| No, à May
July
32.01
4 MAY
Det
30,94
31.33
BAGGAGE:
Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 gato) by 5.00 p.m. on Thursday, 6th May, 1900,
SUBJECT TO ALTERATION
Mar.
31.85
No. I pale crepe
May
LONDON
July
Ort IC
3093
19.00
Mar
21,00
NEW ORLEANS
12344-12944
12-1 106102 118-11712 113-115 123-izn 112414
120112012
WYTICA
Closing prices all in per th.:
No. 1 Its spot ....... 30-3024
Closing prices all in cents per | July/Sept.
16.
Spot Moy
Zwy
FOREIGN EXCHANGE
NEW YORK Closing roles; Crađe
Others tunelianged,
LONDON Closing rates;
New York ...
Adam
Montren
Bettlement hoan term:
May.
Apri/June
3652-33-34 342-449 Frankfurt
Brussels
Paria
Ock/1140.
11,75
| Jam/biar,
Stockholm Milan
$4.72
10.82
M
Qamarsi marroin, BLE. basis, Postą; KALPAGH
Sterling Rrug Ce
Flokely Van Camp
Store & Webster Studebaker-Packard Cort. Suehira Mining
Awift & Co.
Texns C
Text Inc. Thjokol Chem. Tide Water 011
| Predene. Finenes
Tri-Cont Warrante
Union Carbide
Union Oil of Cal Union Partite Railway
1.03-5/10 17ted Atrerati
2.6016-2.04 ..... 271-15/16-2.71-15/16
39.00-18.00%
149.00-340.06
1377-81.71
11.11-13.775 14.00-14,30].
37674417431
[UPL
| Trolled CPA, COPD,
16. Foll "pi 1. pum
Trs, pe Co.
TA, YUUr
A melting
Us, leel
A. Alen 7 PC. PF. Warner Bros.
Werlinghouse Air, Brake
retinenguen Weirle
West Va. Pulp & Paper Winn-D][# Store Zenit fadio
the 'Flying Pig'
2014
THER
London, May 3,
Washington, May 3. THE head of the Air
THE
Transport Association |(ATA) said_today procleat-
THE British Aviation Hem once by U.S.. customs of Tourists" at, sumo overseas of Bristol Siddeley on airpacts has worked wall and gines today disclosed datails the programmo should be of a vehicle called the "ily-expanded.
120 ing pig" which can travel an Mr Stuart Tirion, president, of
3%
34
the road like a lorry and | ATA, told the senate comuperçe also riso vortically into the entitled the
myster cuts
to
air to a height of more than travel at tape and stimulates
International
tourism
the 5,000 foot with a payload.
United States,
He said customs agenzia norw
A company spokesman sald
the vehicle could entry two tonschauk visus und cient tourists t
as a speed of about 230 miles oversete aliports before they
per hour when alors.
depur) ntix major fulde in He said, Chuada. Bermuda and Nam *this le a design stikly und wo Ig torntended expansion of Dimare nqt yet at the stage of this, programme, to Médico Cit
building a prototype.”—Reulan, and Tukyo-UPI.