End of advance in London but no selling spate
London, May 17,
Summit moves in Paris halted the five-day advance in industrial shares but failed to spark a selling spate,
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
THE CHINA MAIL, WEDNESDAY, MAY 18, 1960.
Tokyo, May 17.. Directors of Japan Airlines
Summit crisis fails to halt Wall Street
New York, 17.
have decided to pay a five Wall Strant "ignored the summit crisis long enough to send
per cent dividend to its
non-Government share- stock prices vaulting in the final hour today, holders.
The market turned around American change volume tomentorgi Paser The semi-government Interns- tional air carrier said if carnegabruptly on " late buying was 1,210,000 bores: a net proff of $847,981 for the after spending-day lightly fiscal year ending March 30, below the previous close,
Market analysis looked
of this 1880 will be for narrow price movement
dividend payment.
much
the big four
JAL, directors also approved, Dealers Aid some early pre-plan to increase the airlines teetered on the be capitalisation from $20,077,000 and traders nors cautionary marking down but
The
he increase uncertainty.
·recessed wide range of issues hardened to $80.288 104.
to finance will be usci
first talks
started to climb, up after the initial setback,
payments for three Convair jet-stocks sta Business suffered, however, iners, purchase of aircraft parts and the volume of deals was and pay its long-term debt- light.
Most leuders showed AP. small losses by the bell.
Pull conditions ruled in the-
and most gift-edged Section securities receded. They closed off the bottom with losses up to £14th. Foreign bonds stayed quiet and Germons were weak.
Dollar stocks were mixed with steals on the uptrack.
Business done at the Hong- kong Stock Exchange this morning ing amounted to approximately $5,002,000. Noon quotations and the morning's transactions:
aberes Buy Bellers Salef BANKS
HK Bark 1235 1278 INSURANCES
Union Day 0235 SHIPPING
Waterboa
New York, May 17. Pennsylvania Railroad plans
Industrial gains Industrials
gained in the late
Tally advancing
Bond $8,100,000.
totaited
Kasse C. Power Ker
140.78
Dow Jones closing averages:
Closing
Abitibi Pwr. & Piper"
on their average on gains of five Allis Chalmers
89.13 Litton 4.
204.73 Lockheed Alrea
82.15 Toews theory 147.59 Zone S
Lowenstein
McDermott
McDonnell Aircraft Merek
dam
Mesabi Iron Corp
453% | Winnerstadding.
Mission Derwo
Alden Inc. Arn s Angus Big CWP
54
49
Moisons Baldify
་་
Monsanto Chemical
301
Montgomery Ward
18
Motorola Inc.
National Biscuit Co.
56
National Cast Reg. "A"
61
National Dairy Prod.
175
National Lead.
in Dupont, two or more In US American Airline Steel and Union Carbide and Am. Cable & Radio Corp. to go to the money marmore than a point Anaconda, American Cyanamid Co.
Am. Hum Prod. ket early in Jupe with an International Nickel and Inter-Am. G
national Pager, lidarial stock vas a dry. issue of 25-year colateral are up wel over even points trust bonds to refinance at their best, at
Am. vituni Gas
National Steel Corp.
2241 New York Central
59 Noranda Mines Ltd.
42
Electric
Amerih Metal
Am. Sugar Fet.
American Tel & Tel
have
Ameriah Tob. Amer
30
Anaconda Copper were
33
$35 million bond The advance was the fifth in as many sessions for the list. maturity. After opening lower gold min-
Mr David C. Bevan, Pennsyl-The Industrial stocks shures turned steadier. Coppers" were" duil and
Lins vatda's Onancial vice president risen 1081 points in thels easier. There was little doing told the New York Society of average since last Wednesday,
Rails, fractionally lower Security Analysts that the new In gils and prices shaded.
bonds will be issued by the most of the session, closed at Rubbers continued their ad-Pennsylvania Company, a wholly 140.78 up 1.36. That was the
owned subsidiary of the Rall-widest sain since Mar 18. road-China Mail Special.
Trading expanded on
ed er 1973 yanco after finding favour and
teas were irregular,—UPI.
20,00 1000 26% Wheelock.. 735 720 2000
3000
9.20
DOCKS, ETC. Dock .......
130 121 1000
Closing Prices
Giltered Bonds
British Transport 3, 1874
£644.
Consols 2-£47~3/18. Canals -71-3/16.
Conversion ban 31% 1960-
119
£52-4/38.
22.50
500 221
Taikoo Dock
63 83
60 63
200 #635
200 @ 63%
200 r 64
Provident
LAND, ETC.
HK Hotel..
HK Land
400462
700 45 500 $4 14003
200 63%
27.10 22.30 $500.0
.61፥
Loan
35%, 1950/60- Funding 207-8/16/
Funding Stock 712%, 1999/2004- Funding Loan 4% 1080/90-2.99. Savings 3, 1955/65-9034. Savings 3%. 1990/10280. Savings 3. 1905/75-£74-3/16-
32302d.
1500
$2.10
1500 @ 22.10
1000
22.10
27.30
5d.
#2 1000 @ $14
500 4134
2000
69 6735
Humphreys
Realty
1.975
500 g 511⁄2 400 01 500 (5) 1400 @ 61 500.48
1700 à 622 700 @ 6232
Banks
Barclay's Bank ""A" Ltd ord-539
Chartered Bank-$35 29. Hongkong 64% Lloyd's Bank “A”-81g lid. National Grindleys
IPSNIPES
Bank-39s
Union Insurance Canton-25%.
GITAL ABS Motors' British Motor Cora. Ord-19% 64, Ford Motor Co-1078 1944d. Hawker Siddeley Group Ord-20s 64.
Rolls Royce Tag Ord-45a gd. Rootes Lid A-Lis 34. Standard Triumph International- 11s 3.
Breweries Distillers Coméd
South African Breweries 3d. Hallding and Materials Aspectated Portland Cements
1012. 82
100 62 200 61 20061%
25.20 1000 2599
300 20
500 g 25.80
2 $5000 @ 1.96
Good Lass Wall & Lead Drd ---40. Coal, Steel and Engineering Babcock Woox Ltd 37 18: United Steel-17% d Vickers Ltd $19.
cos Tiid.
Food and Tobacco
British American Tob. Co., Ltd- Imperial Tobacco Co., Ltd-
1975 3343!
20000 195 00000 183060 42 10000 2
RUBBER Analg.
7.90
8 10000
8
40008.05
653068
5000
Trust
9,80
9 1000 @ 9,80
2000 8.99
8000 9
2000 @ 3.20
3000 8.89
1000 8.89
51⁄2
14 1449
Sungala UTILITIES Macao E,
**
Star Ferry
Yaum
197
C. Light:
22.20-2315
Miscellaneous
Boardman Marden is Brits Oxygen L, Ord-
4.
d.
Canadian Pacific Rly-$18.
Punlop Rubber Co-278 7:40. Chman Holding Ltd-
450.
De La Bue Co. Ltd. Ord-855 3d,
Hongkong & China Ga Cod. Imperial Chemical-08 104. Lyons & Co-72) 1150.
Dilleves Lid 150%.
Paper
Bowater Paper Corp Ord--49$ 24.
Radio and Electrical
Associated Blectrjen dhe 64. Electrical & Tapes
General Fiber.
Shipping
Indo-China "Steam Ney. Cg, gef
40 Steam Navigation def ard-
Great Universal Biores "A"--468 "Starks & Spencer Lid–119 34:
Woolworth W.
Costa 1 & PLA Courtaulde
625 19:29
Cons Goldfield of South Afri-
Als 34.
Bots. Zing Corp. 1930–15
Electr
2929
De Betys
New York, May 17. record surge in world. wide demand, coupled with
a shortage stemming from
rise to 4,080,000 shares from 3,530,000 shares the day before, and the most since 4210,000 shares changed. pands February 17,
port.
Defence
stacks
American Smelling
Arman Fleet E Armour Atlas Cons, Mining Asbestos Cosp Baldwin-1m-Ham.
BANGorenfo
Bank of Montreal
Norfolk & Western Ry.
26% North Amer. Aviation
49
Northwest Airlines (Com)
574 Okiahama Nat. Cop
Qtu Elevators Owen-tols Glass Oxford Paper Co. 51% Pacific Gu & Mec
·Pan American. Alry13 Paramount Plettbes
514b Philip Morris
Procter & Gamble Co.
the
Bank of Nova Scotia
Beech Life Bayers....
621 Pity Bowen
|
B. CD) Co.
Bell Telephone
Bonadelal Tiblnice.
on
...
Benguet Cons
Bandix Avision Corp.
Bethlehem Steel
Boeing Airplane
28
Raytheon
48
Republie Steek
58
Reynolde Metni
291
Reynpide Tobacc
Royal Bank of Canada
Borden (The)
Burroughs Add Mać Brush Amer Oll
C Packing Cory
the
a typhoon in Japan last with the international crisis a possible step-up September are behind a suggesting continuing rise in cultured in the defence effort,
stocks of companies involved. In pearl prices, a US, whole-gence and other military saler said. Mr Sidney A. Weiss, Presi- contract work met heavy sup- dent of Imperial Pearl Syndi Thiokol, a maker of rocket cate, predicted shortages will fuels, jumped more than two as be even more acute when pearl did U.S. Borax.
Martin jumped, North harvests of 1961 and 1982 pe= flect the full impact of the American Avalon 24 typhoon damage in drastically Bendix 22.
Mail cut production"China Special,
Kuala Lumpur, May 19, World rubber experts will begin a conference on re- search into natural rub
•ber production here on September 26,
The conference will consider papers based on current rubber research-largely research into natural rubber production and
Brewers
Campbell Soup
Canadian Paclic
Chic Cả lấy Co. Cat, Tractor
Celanese Corp.
C. L. T. Financial Corp. chame Mayshat. Bank Chrysler Matozs
Chuck Peabody Colgate-Palmolive Co. Colombian Carbon Cy.
and Commercial Cumour •**
Colidated" Edison
Boeing Aircraft spurted more Continental Con
Zaitzbach than two and General Dyna-Continental ol of De mics a half. Both companies Cuban Amer. Buger
a Delaware & Hudson Co, are involved in talks with
Distillers-SeagraNDO” British plane maker on the fea-Dominios Stores spility of puliding a British Douglas Aircraft designed short medium range Dow Chemin ...... jet aircraft in the U.S.
Steels turned early dullness into late strength Youngstown added 14, U.S. Steel 20 and Jones and Laughlin 1.
Dupont de Nemoura Eastern Air Ve Eastman Kodak Family Finance Firestone Tyre & Rubber
Corp..
First Nat. City Bank Ford Motor Georgia Pacie Gepéryl "DyRRITÁCO
God. Eu Gen. Te
eye dioden co
Getty Dil
Car industry General Motors armed in the research into the preparation cars on the announcement that and use of natural rubber and one of its divisions had received latex.
an $84 million Air Force con- Goodach (BF.) Co.
Goodyear Tyre Great Northeta Baltweg tract for the development of a new missile guidance system. Grumman Alterat Ford added % and American .quer Op Chrysler based. A total of 1,239 med Cavan
Minlog Co. issues crossed the tape and office a these 520 declined, 72 to new msg Betrig. lows and 503 advanced, with 51 Idaho Blower
Iancial Of Impen Tobacco to new highs.
Thoko led the market in Ingersoll-Rand
shares, Ind Steel Co. turnover with 145,200 followed by American Motors, Int Bares d
Jersey Harvester San Diego Imperial,
Intézetion Standard and Generel Tyre.
Professor G.. C. Blackmon, Professor of Bural Economy at
University the Oxford
and Director of Britain's Agricul- tum Research Council unit of Experimental Agronomy, will
dress the meeting.
The conference is designed to bring together research workers and technologists from natural
pop rubber producing and suming countries. Ching Mall Special.
Yesterday's Closing
COMMODITY PRICES
SUGAR
NEW YORK
Closing prices pill in
Contract Ng, & (World)
ba
July
Máy
Total
amining 100%
Sept
Beuther Kinta Cons 14-20 p. Union Corp—-50»' 94) West Driefo
peg Contam Brne-
160 Contracts
Contract No. (domestic)
SERTRO
Average price in US. at 14 de- signed spot markets; not available.
Total sales: bales
Closing prices all in pense per Ib.
American Contract
KT BREK
METALS
NEW YORK
1 Rao Corporation
Royal Dych
Ricem Bitg
Sears, Roebuck & Cọ:
Shell C-C9.
Saleway Slones
Saint Reg Paper.
20 Schioleg Bac,
Recent mergers should help British aviation
AS
S Britain's big aircraft makers combine
face international competition, Alexander Thomsen, front, rank British trade affairs gommentator talks to one of the top wer involved.
How does Bristol Aeroplane Company see its future
after the recent big pergere in air?
I have driven down here to
And out the answer to this im- Brati portent question.
And for an hour and a half,
I have been talking to Sir Re-
zined Varken Sch, the firm's be
47 year-pid chanan..
*yghis cabould be a year of reasonable now th" he said as we chatted in his boardroom.
gulpress Service).
I think you can be reasonably Merger of U.S.
hopeful about that.
**L*Is ?mpogable of course in divorce the aircraft ist | from official policy either on de- fence or ciya transport.
AMALGAMATIONIS
airlines proposed
New York; May 47. MERGER of Northeast Airlines into
Troms
World Airlinan la under can- fideration, officials of the
"But the pattern the Govern- 135 | ment wanted has now been pro-
vided by new amalgamations.
So there should be far more stability and better prospect for Teaders then we have had in the two lines said today.
The panouncement followed a at last few years ***
1312
Scott Faper
$1015
Sinclar
Smith, Kine & Tranch
Boler Aire
80%
Southe
42
Sout
Branda
54% and
2415
2017
5015
31
2012
21st
113
7046" Thicke
Traders
Cont Warrants
Twentieth Century Fox Fam
Dilon Carbide
Union Oll of Cal.
Union Pactão "Hallway
Untied Alsera
United Gas Corp
US. TOTE"
18 Gypsum
601 US. Line Co.
OF
US Rubber....
US. melting
314%
UB: Steel
US Steel 7 PC. F
Waukesha Motors Wallighouse “Air Brake Westinghouse Electric Western Union Tel. Co. West Ya. Pulp & Paper Winn-Dixie Stopes Woodworth (C. W.) Zenith Radio
Rubber
market
review
Sir Reginald is a silm-bust Presting of the Northeast board. man with grey hair and contrast-of directors, They approved ing black buby gyebrows, His such a merger on the pass Liginded Bristol 40 bags of three share
Northeast stock for othe 50 years
WA
Aeroplane Company
"Originelly it was gebed British
Mr Charles Thomas, Busl- Com dent of TWA, mid that dem was was studying Northeast's pro-
posal.
Northeast also said it and They cost
1980 the deve Banc research. Type 188. Its spey
880 jet
дом
more than 1800 TIRE
After so many pzantku
on its own you might
Bristol's bosses were downbe ed that their company is hav
to take part in new mergers in
keroplane business is going
#re
by How Northeast sud en
of the airplines was
able by consent of Hughes Fool Company
into recently formed Brush Will Kad Nartbeat u
craft Corporation along with those of Vickers and Engli
8845 Electric.
million de les interation
Its helicopter side is being working collar Baked with Westland AlteraLL 425 and (syp offers.
2142
Singapore, May 17. Closing prices, all in cents per With New York advices higher than anticipated
PET THEME
But Sir Reginald says. I am wholly in favour of new group dings. It has been a pet
of mine for years
Theme
"At Last we shall be able to concentrate, really Jorge sources of men and money new projects so that they can developed quickly when cisions are taken.
What about Bristol olfier Interesty? What els i have in its new role holding company?
Ope Bay venture is a
With
Aero erines this
making dispaly for airway loc
care for Hooter.
nicely S
A dark bor
company Aeroplane Patio
parts for
States and extends
Attende Ocean to
western Europe, the and Bar East.#
Northeast is. carries 越 1958 wanted mute extens New York to Washington and Florida.
British jet may
be built in US.
Telephony
-Bir
Pradinis quis
COTTON
NEW YORK
INDUSTRIALS
Agreed merchant FATES
Rope
Swiss Franes, maximum sal
the en-
Closing proes all in' cents per
4.18 nom
Closin
NEW YORK
HIGHER