London hesitant over possible
bank rate change
London, June 22.
Stocks moved irregularly in quiet markets today when buyers mainly preferred the sidelines awaiting tomorrow's bank rate, announcement.
Decline in
cigarette output in U.S.
Industrials with an inter- national following made 3 strong showing. Several blue chips which often meet American buying teeked on small gains."
THE CHINA MAIL, THURSDAY, JUNE 23, 1960.
HONGKONG Wall Street advances
STOCK EXCHANGE
Our Own Correspondent
Business done at the Hong- kong Stock Exchange this
morning amounted to
-da
in
active trading
New York, June 22,
proximately $2,937,000. Noon The stock market advanced in active trading today. It was the
quotations and the morning's Linnsactions:
Shares
Bank.. Le
Union Ina
Waterboat Wheelock.. HK Dock Frovident
Buyers Sellers
Sales
1210 1220 201213
2250
H
112
28
7.10 30007.04
113
21.10 21.00
HK Hotel.. 411%
were
Government securities undecided and showed little movement in the day, Japanese Londs staged an syance to make the feature pd foreign honds. Dollar stocks were mixed with oils a firm spot.
Further cape buying gove golds
glitter. Coppers sonie were firm and tins made head- way..
New York, June 22.
and Cigarette production
shipments in the United States fell in April from the record levels for the month last year, accord- ing to figures issued here market. by the Tobacco Mer. chants Association.
Output
and deliveries cigars als declined in
of
April
compared with April last year. However, trade circles
said
there were fower producing and shipping days in April this year than
1959, a difference sufficient to explain the statis- tical decline.
Cigarette production fell 4.1% to 39,700 million. in April while to 30,900 shipments slipped 3.1
million. Munthly shipments had shown a gain fran 3 year; earlier in every month since July last year.
WORKING DAYS Commenting on the April fall, the Toxicro Merchants i
these declines Association said
to the could be attributed difference in "working days." These were 22 week-days m April, 1859 and only 21 in April this year.
Such a difference by itself! might account for, a drop of about 4.5%. The Association
also remarked that "on a sta- sonally adjusted annual basis, April totals continued well above last year's 12-month total."
Royal Dutch and Shell were the standouts in a liveller oil
400113
500 € 21.80 500 © 2 1500 @ 11.40
700 21.40
500 + 21!
42 3000 4 452
6004214
2000 42 2500 15 42 300 6 12 50004131
300 € 12 50 2308 @ 1
ปล
HK Land..
5012
(HL) -
58 @ 30
Yousai
174
180
800 178
IK Tram..
900 or 170 500 al 32
g
C Light 2270 22.90 IIK Electric 28.50 26.00
market's first rise in the past seven sessions,
The market was mixed and active at the opening. It turned lower around noon. But it advanced in the final two hours with prices around their best at the close.
Ralis, steels and selected Shell O Issues led the rise. They were joined by rappers, airlines and The motors, rubbers, tobaccos. chemicals, aircrafts and petro leums closed mixed,
'Gains for the most part ranged
from a few cents to around one dollar a share, but some special issues gained more than four dollars.
Coppers advanced on news of
a rise in the world price of the metal. Merger talk helped the rails. Steels apparently 800.80 some institutional buying.
|
Shell Transport Sinclair Ol... Sony Mobil Oil South Am Gold' à Plat South California Edison Southern Company Sperry Rand Stand Oll California Standard Brands
stand of Indiana
Stand Oil New Jersey
Stand Oll Ohio
Sterling Drug Studebaker Packard Texaco Int........ Thompson Ramo W Tidewater Off
want. Century Fox met Trans. World Airlines
Union Carbide
Union Of California
100 28.70 Of 1,210 issues traded, 580 Union Paciño
0260 advanced, 433 declined, and 238 United Aircraft Corp.
50 23.50
500-3914
2000291/
The Dow Jones 30 industrials were up 43 to 645.86.
United Air Lines
00%
48
ག་
4170
500 28.70
were unchanged.
United Fruit
HK Tel.
++
30 391
715 29.70 400 @ 39%
US. Industries
US, Lines
U.S. Rubber
3435
1000 30
500 430
100 30%
Volume totalled shares compared with shares traded yesterday.
3,600,000
1.5. Smelt. & Refin.
2912
U.S. Steel...
81
3,860,000
Warner Bros. Pictures
Western Union Tel.
48
60%
300 394 108
3011
O. I. Cement
54 54 3000 631
2750 @ 24 2050 Fr. 54
117
-UPI.
19/8/12-
Rubbers and teas driftNG ---- UPI.
Closing Prices
Giltedged Bonds
British Tranport 3
Gua
Consals 245-£44+1/18
Consols 4-1:09.
£60-1/18.
Convenion Loan 3. 1901-
Funding Loan 37, 1959/00-£N Funding Stock
£0471.
Funding 88-7/18
3d.
395, 1999/200—
Loan
4
1960/00--
Savings 3%. 1955 05-£90-3/16. Savings 33. 1900/70-£101. Savings 3. 1905/75-£7235.
Banks
Barclay's Bank “A” Lid urd-356. Chartered Bank-1
longkong-£10%.
Lloyd's Bark "A"-5x 3ď.
Insurance
Usion Insurance Canton --£57%.
Aircraft & Motors British Motor Corp. Ord-17% 34. Ford Motor Co-1039 8d.
Hawker Eiddeley Group Ord-20s
Rolls Royce Ltd, Ord-43s Vlad. Rootes Lid "A"-11 7. Standard Triumph International- Pa_1.
Breweries Distillers Co-30 14. South African Breweries24.
Building and Materials Associated Fortland Cument-60s
d.
Goodless Wall & Lead 450.
Ord-bls
Coal, Steel and Engineering. Babcock & Wilcox Lid-06 €1. United Sleel-7737 Vickers Lid-3.
Food and Tobacco Bh American Tuk. Cv. Lld-
April Despile the
decline, shipments of cigarettes for the first four months of this year were 3.8% ahead of the similar period last year. March des 3d. liveries
had jumped 13.4 China Mail Special.
Blone
Rubber
market
Singapore, June 22.
Imperial
Bl
Ltd---Bis
Tobacco Co.,
Mhcellaneous Buardman Harden Ltd--s 450. British Oxygen Lid. Ord-94 Canadian Pacific Rly $497
d.
De La Rue Co. Ltd. Ord-15s 3d.
Dunlop Rubber Co-20s 11⁄2d.
Gilan Holding Lid-26 41d. Hongkong & China Gas-10% od n Imperial Chemical-59 4%d, Lyons & Co-78 94.
Unilever La-1725 Gd cor.
Paper
Bowater Paper Corp Ord-60; 34.
Radio and Electriesi.
Associated Electrical 54s 3d.
Dairy Farn
29 29.10
Stocks of some Puerto Rican and United States sugar com- panies rose as U.S. Secretary of State Christian A. Hetter won important support in Cón- gress for a new sugar act which would give the President 455 28.00 authority lo cut Cuba's sales to
the United States.
500 G 54 300.64 100 @ 14% 500454
500 29
500 28
1280 29.10
300 € 29
76.00 26.50
53 28.30
1000
20.20
Watson
Allied Inv..
€ 6.10 Textile .. 10.10 10.80 3000
Nanyang
10.90 3000 10.00 2000 6 10.81 10.90 1720 3003 10.80 500 16.9 7300 17 4000 f 17
Rubber Trust Talkoo
7.10
8.70 5016 571
1.875
800 # 57 200 @ 87 500 Realty
-1.90 5000 1.875 Star Ferry 10 17 100 173 HK Gaz...
14.20 14.30 10270 « 14.20 2330 14.20 500 14.33 350 4 14.50 3000 14.20 300 14.30 4001420
Lane Craw. 4311⁄2 43 2000 4314
Int. Inv. H.K&F.E.
Iniy. Gilman Масля
8.00 8.75
14.70
2.025 2.15 ... 12.40 12.80
Humphreys 2412
Rop ..... 1930 19
1800 13 1000 43
10043)
200 až 4375
225 6 8.60
100 $14.80 1000 ₫ 2.19. 320 12.50
Chicago
19.30
Wide gains among selected Issues included Polaroid, up 91⁄2 to 243, and Otts Elevator, up 4% to 544.
Seven of the 15 most active stocks advanced, seven declined, and one-General Telephone & Electronics--was unchanged.
Emerson Radio and Commer- cial Solvents dropped 1 cach in further profi taking, Univer-
sal Match gained 15% and Oliver Corp. a point in brisk buying.
American Shipbuilding rose three points.
Among the rails, Baltimore & Ohio gained 1% and Delaware & Hudson 14-AP.
Closing Prices
Allied Chemical Corp Allis Chairme 2% Aluminum Ltd
Aluminum Company
Amerada Petroleum
Westinghouse Electric Vale & Towne ... Youngstown Sheet & T Zenith Radio
Home appliance business `in doldrums'
UK bank
loans smaller
London, June 22: The increase in bank loans between mid-May and
· mid-June Was only £3,100,000, compared with # rise of £26 million in the previous period and a jump of nearly £100 mil. lion in the period between mid-March to mid-April this year. This
Details of new
British
super jetliner
London, June 24,
DETAILS were released today of a new British super jetliner which will be capable of flying up to 212 passengers between London and New York at nearly 10 miles a minute,
The aircraft. is the Vickers Super-V.C.10, a development of the Standard airliner. 35 of which have been ordered by the British Overseas Airways Corporation at a cost go on strike of £00 million sterling.
Vickers V.C.10 Liverpool dockers
Powered, like the Standard by four Rolls Royce version, Conway by-pass gas turbines et the tail end of the fuselage, in us it will be 28 feet longer than Issued today by the 11 London the Standard V.C. 10 and carry clearing banks.
It is
is revealed
service
in
Liverpool, June 22. FORE than 8,000 men:
MORE
were idle and 61 šhips unmanned in a dock strike here today,
Two big liners the Empresa
of France (20,448 Lons) from Canada, and the Reina Del Mar (20,234 tons) from South
the smallest monthly up to 32 more passengers. change in the level of advances The Super V.C. 10 will have since August 1958 when there a cruising speed of about 575 was a fall of over £3 million.miles an hour and should come America-were among the ves- This was near the end of the into
1986. The sels hit. credit squeeze which had start-Standard V.C. 10 files next year cd in September 1957,
and will be in service by 1983. Today's figures show that the China Mall Special Chancellor's "special deposit?"* measures enforced two months ago with the aim of curbing the expansion of banks' lending has
had a striking effect, arcing
Chicago, June 22. Sales and profits of the this scheme, the banks have had to financial quarters here. Under
major
home appliance to pay with the Bank of business are "in the dol- land one percent of their total drums," according to Mr deposits and this money-near. Robert H. Quayle, pre-ly £74 million is in effect
"trozen," these sources said. Bident
of the Norge China Mail Special. Division of Borg-Warner Corporation. "
Mr Quayle told the press at the international home furnish- ings market that refrigerators unit shipments from the factory on an industry-wide basis were five per cent less in the first 37%ve months of this year than in the same period last year. He added that ́automatic washer shipments were seven per cent
55!
Manufacturers had been faced with the necessity for reducing schedules with the production 49 resultant reduction in employ- Pment and liquidation of inven-
tories, he said.
1000
60
600 @ 18.30
American Airlines
21
American Can
39%
off.
American Cyanamid
582
American Smelt & Refin
86224
American Sugar
American Tel & Tel
Arnerican Tobacco
5815
Anaconda Company
Armeo Steel
Armour & Co
31
Associated Dry Goods
Atlantic Reßning
3211
I
HIGH COST
37
2071 Mr Quayle blamed the situa- 435tion facing the industry on "a
grain market
Chicago, June 22,
Electrical & Musicals ad cor. Soybeans and wheat declined
English Eectric Co-375. General Electric-36 6d.
The market ruled quiet through-
out the morning at around 124 i cents for July No. 1 Ras. After some early activity the:
Shipping market became stagnant 35 Indo-China Swam Nav. Co. def
increase ord- 225 30, not would
P&O Steam Navigation def ord- Some light buying for
40%. lower sheet found
Stores sellers reserved and differentials Great Universal Stores "A"-475
Marks & Spencer Ltd-756, Woolworth F. W. & Comßls 711⁄2d,
Textiles
buyors
prices. pearby
narrowed slightly.
Good lower grades demand kept prices steady through the afternoon.
The market closed steady. In London, the rubber markel was alesdy with spot quoted al 38% pence-UPI.
NY sugar market
New York, June 22.
futures broke
World sugar
rather sharply here today in fairly heavy liquidation. The future closed seven to 10
as much as down
9df.
Coals & Lids. Courtaulds Lut-666 4d.
Miner
Cons Goldskelds of South Africo-
50 426.
Od
Cons. Zine Corp. Ord-753 Gd.
De Beers def-1418 105d.
longkong Trum-12s4d.
Petaling Tin-16.
Rond739 131⁄2d.
Southern Kinta Cons Ltd-27% (d.
Union Corp-49% told.
West Driefontein Goldmining-18s
along with most other grains on the grain futures market on Wednesday. In the third setback of the week, numerous contracts reached or barely missed their lowest levels of the
season.
Bendix Aviation Bethlehem Steel Boeing Airplane Borden Co Burg Warner
Bridgeport Brasa
Case, 3, L. Co
Cerro de Pasco Chrysler Corp
U.S. rubber
workers want higher pay
The
Emergency travel
insurance scheme
Singapore, June 22. N emergency travel in- Aurance schone started
This afternoon, 5,000 dockers along the Mersey were still at work but it was feared they would also soon become in- valved,
The unofficial stoppage began yesterday when employers declined to stamp the attendance books of 600 dockers who refused to
work on Monday. night claiming this was over- time.
The dockers have banned
in London by the Navigators ing to rule, in support of and General Insurance Com- claim for a 25 shillings rise and
pany Ltd., and sponsored by a 40-hour week.-Reuter.
Bouc, is now available in
Singapore and the Federa
tion of Malaya,
This scheme will enable a person to make a top-priority
New version
"merry Bight" to a sick re- of Hovercraft
Live OF
have a close relative
flown to his bedside, if he is JIL
London, June 22.
Clevelard, June 22. United Rubber Workers Union nameunced it has ser- ved notions out twp more companies to reopen enb- tracts for pay rise negotia. will be given free transporta-70 knots, is under construc-
Under the scheme, a person who takes out a special policy
tion to the bedside of a relative
the world,
NEW version of the Hovercraft, capable of
or close friend anywhere in tin at Cowes, Isle of Wight, it was announced The scheme also covers the here today. cost of additional fares by taxis, trains and boats.
tions. The notices went to the Gen- cra Tyre and Rubber Company, and Richardson Company. Dates for the negotiations will be announced later.
Talks with General Tyre will Mr Gordon Davidson, sales cover some 3,500 workers in manager for South-East Asia. Waco, announcing the new emergency 20% lack of revolutionary production plants in Akron and 37% development, no solutions for Texas, while
with travel insurance scheme, seld
Burroughs Corp
Canadian Pacife Rwy
23
II
Celanese Corp Am
2434
46
Illinois,
new consumer demands, such Richardson will involve 1,500 that the plan had already re as longer lasting appliances, ex-workers in plants in New ceived quick response here- 331 cessively high service cost and Brunswick, New Jersty, In- | AFP. ||
"consumer
confusion" due to dianapolis, 40% stress on price.
talks
Melrose Park, Tyler, Texus, and
Earlier this month the union
notices on Firestone Rubber, Goodyear
and
cles Service Coca Cola Company Commonwealth Edison Consolidated Edison
Colgate Palmolive
Continental Oil
Corn Products Co. Crane Company Crown Zellerbach Curt Wright Dirtli Corp-Seagrams
Douglas Aircraft
Dow Chemical
DuPont de Nemours Eastern Air Lines
soybeans Eastman Kodak contracts Food Machinery & Chem. lows for the Ford Motor Co.
July maize and along with most rye 'sank to season
second consecutive
General Dynamics day. The General Electric
General Mills
decline took several new crop wheat, maize and soybean de- liveries to within a cent or so of their lows.
General Motors General Telephone
Georgia Pacific Corp. Galty Oil
Fillette Co
Goodrich, BF. Co.
Most losses were in minor fractions. Malze and soybeans, | Goodyear Tyre & Rub. which have been under pre-, W‚Ã. & Cơ,
Guff Ci sistent quidation for the past ingereal Rad British Bomeo Petroleum Syndi- | Ševaral days, posted some Inil. Business Mach.
cate-40s 1942.
90,
points lower. For a time they sd. were
11 points. Sales totalled 988 con- tracts.
Traders said the selling was Influenced partly by indication
the
U.S. Congress may vote
legislation giving the Elsen-
011
British Butinal Petroleum-1s 9d. British Fetroleum Co. Tad--Bla
Burmah-4.
Royal Dutch Petroleum-£13-13/16. Shell Transport & Trading-1445
---Reuter.
broader declines.
SMALL VOLUME
Trade volume continued small without showing any hint of a rally which usually follows sharp decline or a succession of
Agreed merchants.
rates
à
Inti. Harverter
Inti. Nickel
Inu, Paper Intl. Tel. & Tel. Jones & Daughlin Kaiser Aluminum Kennecott Copper
Libby Owens Ford Belt & Myers Loechend Ales Love Biar Cement Larillard. 2. Co Martin Co
Merck & Company Melzo Goldwyn Mayer Soybean trade appeared to Minneapolis Honeywell have been affected somewhat Minnesota Mining & Mfg hower administration discre-
by the monthly report showing rookgomery Ward
Moto Chemical tionary power to cut marketing Canadian $:
Maximum Sell-crushings for May at 33 million Moore McCormack lines quotas of sugar supplying coun- ing 17-3/32, Minimum Buying bushets, clown slightly from the Motorals The
low figure in April and off more National Biscuit
National Cash Register then 3% million from May last National Dairy Prod
Northwes National Gyneum Wheat closed - cent a Nation Fos West German Deutschemarke: bushet lower. Maze -1 cent New York Central
tries,
It was further influenced by s
17-11/32 T/T; 17-13/32 O/D.
statement by U.S. Secretary of Swiss Francs: Maximum Sell-year. State Christian Herter that the ing 74-5/10. United States should reduce its dependency on Cuba as a sugar source.-AP.
Maximum Selling 72-7/16,
Marine & Industrial
VICTOR-
Northwest Airlines
lower, cats lower, rye un-Ohio ou changed to 14 lower, and soy-in Mathieson Chem beans
- lower-AP.
Pacific, Gas & Fee
Pan Am Worká Airways
Paramount Pictures
Paponyani
Ri
to
He predicted that unit sales of Ogden, Utah.
home appliances sif major 46 dealers in 1900 would be about served 541 seven percent less than in 1959 U.S.
when appliance makers turned Goodrich-China Mail Special.
48
1732
out a record $4,800,000 retail
worth of refrigerators, freezers,
91
home laundry equipment and
2004 other "while goods."
The drop-off in dollar sales, Mr Quayle added, would probably be more than seven percent because of severe price competition in the industry. China Mall Special.
Oslo's bond offering oversubscribed
New York, June 32,
Yesterday's Closing
Mr Terence Cleaver, Publis Relations Officer of Boac for the Far East, told the China Mall this morning that the emergency flight scheme has been in existence in Hong- kong for the last five years.
COMMODITY
METALS
LONDON Closing prices all la sterling per long ton.
Tin spot 3-month
Copper spot 3.month
lion bond offering received zinc and half
Oct/Dec.
Jan./Mar
Apr/May
General markets, cit. basi
July
Aug.
Estate crepe
thin Aus
thick July
AMSTERDAM
The new 28-ton craft, to be operational by autump next year, is a development venture of Westland aircraft limited and Hovercraft Development Limited,
with
It is an operationni prototype # covered passenger eabin.
Britain's Arst Hovercraft, of much smaller dimensions, first "new" just over a year ago.
saucer
The revolutionary shaped vehicle imvels on # cushion of air-Reuter,
PRICES
SUGAR
NEW YORK
Closing prices all in centa
Closing prices all in guliders per lb per kilogram, c.lf. July: 1976 No. 1 rubber
• Contract No. 4 (World),
3.40 buyers
July
2.45 buyers
Bept.
1.35 buyers
3.71 buyers
Oct. Jan.
UPI. Mac.
May
July
buyers sellera
TOT
70114.
2561
192 25712
No. 1 rubber
24734
Lead 2nd half
21 No.1 crepe
No. 3 rubber
The city of Oslo's $10 mil-
June
7214
Sept.
7016
17236
an excellent reception in the American market and it was quickly over- subscribed today,
June Sept
0211 BOJ
0146
B01G
The 15-year 5 per cent
fund 834 sinking
external loan bonda were offered at 99 per
to cent plus accrued interest yield 5.83 per cent.
RUBBER
b.:
NEW YORK
*July
31.666
Ded
31.616
1.71b
SINGAPORE
Sept
COTTON
Closing prices all in pents per
Tolai Baks: 60 Cunstracia,
Contrast No, & (domestic)
Nov.
Total Sales: 76 Contracta.
July
Dec.
12331-123)
Mar
1194 .1184
FOREIGA EXCHANGE
NEW ORLEANS
LONDON
Closing rates;
New York
Monirent
Amiterdam
Closing prices all in cents per Brimeois
COVENTRY
Engines
"Generating sets
G.P.Ó. Box Be R.EN ECO Tol. 24491
Exchange rates
Bic
Pepa Cola
Pilzer, Charles Phelps Dodge Philip Morris Phillips Petrol Pure ** w
done in the local Quaker Oats" tinofficial exchange market tha Madlo Corporation morning at the following paSOS:
Raytheon Company US dollar (per $1)
8.74 - Republic: Bleol® gterling notar (per (21)
16.09 Reynolds Metals Apsipalan notes, (per £1) 12.68 Reynolds Apparta Lodopesky, palla” (per 100) 233 Royal Dutch Petrol BUY Liene (p 100)
25.96 hi neris Páner Surig
130 Bears Hoebuck
The offering was made by a group of investment bankers Closing prices all in Straits headed by Kuhn, Loeb, & 09.
Aug
cents per Ib. Lob. Malayan peter Proceeds will be used for im- No. 1 July proving Oslo's electrical system, No. 1 July the harbour, and the municipal No. 3 July No & July “ma, tramway-companies.---
Spot rubber un
جم
It was Otto's second success-Etiket crepe pe
LONDON 4196 | ful offering within three years.
The previous odvring comp 70% prising $811' million in sinking
fund and serial bande, was mad
in 1958-AP;
Copenhagen Frankfurt
July
Det.
31.466
Odo
Doc
31.140
Parts
Closing prices all in pence per
Mar
31.486
Milan
15.
scoot 321j-3094 Battiment house term:
July/Segt.
July
1.7ob
Vienna
35%-383%