Pare Z
JAPANESE Popularity Factory for
of 'fivers'
London, July 12
The Bank of Englande annual report today show« ed there still aro
£1.000 banknotes in cit culation, or 16 fewer than
last your
Five pound notes pr "flyers" are increasingly popular while 21 poles are falling from favour.
Britain's total note issue has risen anly by £242 million over the past three years, but the circulation of "vera" has increased by £416 million in the same period at the expense of 21 notes-UPI.
London
closes
easier
London, July 12. The. international situation, Wall Street's overnight downturn and a spate of new issues combined to- day to keep stocks on the decline. Selling was light but brought sharp losses to industrials.
Paris
buyer of Was a Imperial Chemical Industries which went against the trend to
fraction higher, move while elsewhere the blue chips generally eased. Engineerings, textiles and electricals closed dull, but leading steels and stores showed an upturn near the final bell.
+
bonds Government
stayed friendless. Foreign bonds were mainly unchanged.
Gelds were a brighter look and scored gains ranging to five shillings. Mining Anance.
shared houses
the rally.
transistors
to be built
BY ALEXANDER THOMSON
THE CHINA MAITA WEDNESDAY, JULY
Shannon, July 12,
INVADE EIRE
HONGKONGI Wall Street
STOCK EXCHANGE
Our Own Can
Budiness daze. the Hong- kong Stock Exchange this morn- ing amounted to approximately
Mr Akira Suzuki from Tokyo bowed me $1,370,000. Noon quotations ant
a polite greeting. In perfect English tre said:
am quickly learning to become Irish":
He arrived here recently to start a factory for the Japanese Sany Corporation to make transistor radion.
Mr. Suzuki is 38. He is mar ried and has five children. With his wife and three of them he has set up house in nearby Limerick. The other two children are at school in Japan:
What brings Mr Suzuld and most of his family to Shannon, on the west coast of the Re- public of Ireland?
A new concept of the jet-age industrial development and a little matler" of "imperfal pre- ference besides.
Factory
On the fringe of the busy airport here International
handles four million which
250- passengers each year, a acre factory site is being built. The idea is that foreign firms shall By in raw material duty into finished free, turn them goods and fly them out again.
But there is also the paint that if 50 per cent or more of the cost of making goods has been spent in Ireland, they will be classed as Irish-made and so rank for atoms con- cessions wealth.
In the Common-
Said Mr Suzuki, against a background roar of jet-engines "Africa is the market where we aim eventually to sell Produce in our Irish factory.
"Mast African countries do
80
the morning's transactions:
Buyers Sellers
Shares
Waterbost
7.30
240
28.
Bales
7.35 2000 7.35 1000 7.35
HK Bank.. 1228) 1230) 141230 10 @ 1230 The Sony Corporation was Wharf Co... started by a team of Japanese Wheelock engineers In 1945 with £190. Now it has a captal of £900- 000. In the last three years ks sales have climbed, from £3.6 million to £8 million.
Dock,
TET
3000 7.30
112
200 @ 111
Provident. 20.80 20.80
Mr Suzuki insists that the UK. market will not be his HK hotel main objective. Even so, our HK and.. radio firms will hardly welcome the arrival of so vigorous concern bang on their doorstep. Especially now that some of the froth is being blown off their boom-London Express Service
411%
42
drops on late Refrigerated cargo
profit-taking
New York, July 12
Stocks were clipped back sharply in barrage of late profit-taking today.
Boeing Airpishe
Price erosion zierally was Bethlehem Steel ... slight in the early trading but picked up momentum sharply
around the close.
I
500111 It was the second decline in 400 112 now following yesterday's 340 20.60 heaviest selloff in nearby three 1000 20.80
400 4 20.600nths
58
500 20.70 Aircrafts generally countered 600414 the lower trend as international tencions continued to mount. But even the group showed signs of backing down in late selling
581
日
Tram
G. Light
$2 3214 22.20
-200 41 58 200-22.20 28.30 28.
200
54 5432
Germany's big
loan to
World Bank
Electric Telephone Cement
Dairy Farm 28.80 23.90
Watson ... $5.00 28.10 Alled Invest, # 610 Textile .... 11.40 1111
Nanyang
36:
100 63° 500 531
3311⁄2 54
330
500
200 or 34 200 € 29
Some coppers moved up in the wake of a fiming price picture. However, the group was well below its high at the finish. Owens Illinois dropped around. in the blue chips where Du Pont and Easkman Kodak lost 3 or Moro, IBM
500 23.90 toppled anotind 13 in the
8000 @ 11.35 2600119
500 10 40001 18.10 19.30 25000
4000 #19.20 1000-19.25
electronics.
Today's volume was 2,860,000 shares.
of # total 1,216 shores traded 274 were higher and 738 lower.
American exchance volume.
2000 1940 was 1,040,000 shares.
Borden (They Co./../. Burroughs Add Machine
British Amer, On
British Columbia Per. Call Packing Corp. Care, Bharat Comet,
and Brewers
Campbell Soup Co.'
Canadian Pacific R. Case (J. Co. calanese Corp. Cat: Tracto
Tinancial Corp Chrysler Motors Chase - Manhat. Bank Cruet Peabody Colgate Palmolive Colombian Carbon Co. Commercial Credit Consolidated Edison Continental Cad Continental Olf of Del. Crane Co... Crown Zellerbach Delaware & Rudson Co. Cuban Amer. Sugar
Diamond Alkali Diamond Gård
Distillers-Seagrams
Dominion Stores Douglas Aistraft Paw Chemical Par Duport de Nemours Eastern Air Line 20 Eartman Kodek
Pisu, National Gas Family Finance Corp.
| Firet Haf: City Bank
Ford Motor Co. of Cana Ford Motor
Georgia Pacific
Bonds volume amounted to General Dynamica $5,050,000.
Cléneral Electric
General Foods
General Motors
Dow Jones closing averages on Pub Ul.
3000 19.20
2000 de 1920
A. Fubber
6.30
* 10000 #7
2000 6.95
8.45 8.45 300
6.90 B.00 @6.58
wene:
» 8:45
30 Industrials
20 RAU
15 Utilities
Washington, July 12. The World Bank has ar- Rubber T.
ranged to "borrow the equivalent of £85,480,000 from the Deutsche Bun- desbank, the Central Bank Talk Dock of Germany, it was an- nounced today.
Realty
HK GUN
1:825 1.875 6000
14.00 14.70
1.85 FOOD 1875
·B80 @ 14.20 300 14.00 14.60
100 14.70 1000 / 8.90
500 @ 18:30
231 23.70 2400 23,70
The bank said it was not only the largest borrowing
Int'l Invest, 8.5 ever vibro undertaken
by the institution Humphreys outside the United States, but also its largest borrowing any- where, since
no. Lague
of
Coppers turned buoyant helped per cent of the radios we shall £89,050,000 of bonds was sold |
by the higher price for the red
metal.
This lost round while not allow, in Japanese radios. diamonds improvert.
Oils
in the US. in 1947.
were shaky from the Some of our rivals get there by Mr Eugene Black, the Bank's
outset and moved erratically. Rubbers were mixed and teas drifted lower-UPI.
Closing Prices
Gilted god Bonda British Transport 37%.
£60-3/16.
Consub 24%£44-5/16. Consols 4%£67.
1978/88-
by backdoor methods. The Sony Corporation does not like to trade that way."
I asked: "Do you regard setting up here in Shannon as E frontdoor means of entry?"
"Most certainly," said smiling Mr Suzuki.
The transaction was hailed
president, who declared in an accompanying statement;
"The willingness of Germany. to lend this large amount to the World Bank is stating test- mony to the desire of Germany
to
Agreed merchant rates
05 Stocks
40 Bonda
Comum. future price Index
Closing Prices
|Abitibi. Pwr, & Paper
Alden: Ine? Any:
Algoma Steel Corp. Allied : Chemicals Allied Mills, Inc. Allis Chalmers Art. Brake 'Shon Ameright. AlEURS Am. Catile & Radio Corp.
| American_Cyanamid. Co. Amèr;”& Forgn, Power Am!" "Gas & Electric
Swiss Frans, maximum sell. Am. Home Prod. ing 75-1/10..
W. German Deutschemarks, maximum selling 72-0/10.
Exchange rates
An. Mach. & P'dry. American Metal Am. Natural Gas American Smelting Am. Sugar Ref. American. Tel & Tei American ToD. Ampex
Anaconda Copper Armco Steel Armour
assist in the economie advancement of the under There are other advantages developed areas of the world. Ii for the Sony Corporation as also gives evidence of the energy Funding Loas 2%, 1959/00- well. Some European coun- and resourcefulness of the Ger- Funding Stock No2, 1999/2004- tries still frown an imports man people. The World Bank ugodicial exchange market this Baltimore & Ohio
from Japan.
Conversion Loan 2001/16.
281-11/16.
914
1081---
204
2811
Saving
Funding Loan 4% 1900/90--
3%, 1865/66——288話 Savinga 3 1960/70-279-7/18. Savings, 1985/76-70%
Baske
Barclay's Bank "A" Ltd ord-518
3d Chartered Bank-$25.
Hongkong-23 COT. Lloyd's Bank "Als 3d.
Insurance
Union Insurance Canton-£6. Aircraft and Motors
Motor Corp. Ord-1ds
Brilist
Ford Motor Co-1038 1154. Hawker Siddeley Group Ord-29s
Rolls Royce Ltd Ord-53, 4ķ1⁄2d Rootes Ltd "A"--100 $0. Standard Triumph Internationa!-- Es 1d.
Breweries
K.
Distillers Co-38% 9d. South African Breweries-23
Building and Materials Astoelated Portland Cement-04s 15
Goodiars Wall & Lead Ord-618 1150.
Coal, Steel and Engineering Babcock & Wilcox Ltd-38% 10d. United Steel? B.
Vickers Lid-32x 434d.
Food and Tobacco
6.71
Businem was done in the local
morning at the following ratea: greatly appreciates the peflon US dollar (per $1)
the | Sterling holes (per £1) "Made in Ireland" label willken by the officials in help them there too as well as Bundesbank and in the govern Australian notes (per £1) ....
ment to make this transaction Indonesian rupiah (per 100) in the British market.
Siam teals (per 100) posible."--Reuter
Singapore (Straits)
New estate
In the new industrial estate
on the airport's perimeter, six foreign-owned firms are
already being established, Besides Sony of Japan there are three American, one. Dutch and one German. They will turn out a variety of light products,
But their goods will all have ane thing in common. They will be classed as Irish-made.
"In addition, two British firms have come here to make knit- wear and a new textile mark- ing machine.
144-04
The attraction for them is the availability of labour and the full VIP treatment the Irish Government is offering for its jet-age plan:
'
1b.:
British American Tob. Co., Ltd 588 3d.
Co., Imperial Tobacco
25iscellaneous Boardman Marden Lids 10d. British Oxygen Ltd. Ord-100s 6d.
34.
Canadian Pacifle. Riy-4424.
De La Rue Co.. Ord-833d.
Dniep Rubber Cost
Gliman Holding L4-2.448.
Imperial Chemicals
a
: • Factories are provided at rentals of as low as 1s 3d square foot.
2
Non-repayable grants are
Hongkong & China, C-168 64 a. given to cover as much as half
Lyons & Co 80% 4}{d
Unilever Lid-100%
Paper
Bowater Paper Corp Ord-M78: Id Radin and÷Klectrical'A
Asociated Electrical-615. Electrical & Musical-480 3d. English Electric Co38 90. General Electrio-1585
****w by +Shipping
Indo-China - Steam May. Co ordine 54NA
the cost of plant and machinery and the full cost of training the workers,
*• Profits are tax free for a
period of 25 years,
Mr Suzuki is starting his plant in a small way. He has two def Japanese engineers training 10 boys and six girls aged from 16 to 20.
P&O Steam Navigation defiord
Debenhams, Lid. Ozdtem við. Great Universe: Stres
Marks&Spencer Ltd Wadworth
Coats & Plan Courtaulds Lid-800 T150.
Cons Goldfelis ipf South Afric Con Zing Corp. Dry
De Boers dIALES
Honour Th 7 0 Peining Tin
Southern Kints Cone La Union-Corp-808 4560)- West; Diefonte
Árliini, Romeo, Petroleum
oleum? Cq, Lole
But his target looks ambitious, It is to start with an output ös $,000 transistor, radios a month and work up to 10.000 by the end of next year and 20,000 subsequently.
Portable sets
N
At first
Con how
We can a train Four 5 local
Yesterday's Closing
COMMODITY
SUGAR
cents per
NEW YORK Closing prices alvin
Contract No. 4 (world) Sept:"127-21; "Det: 8.zi Jibe Mar 1.18 May?" M11, July!! Spok-(7.-3. Cuba): #125.
"Total Silen." 445 contéacÁK, Open Intererti 3,215-contracts.
Pontzuet No. 6" (domestle) M Sept: 607 Nov: 6.00 5050-101.4. NYx-duty):31 08.17
"Total Sales: 13 contracts,
Open Interest: 3,071 contracts --
UPI
Ib.
NEW YORK Closing prices all in cents per
Asbestos Corp. Atlas Cons. Mining Baldwin-Idma-Ham.
Bank of Montreal Bank of Nova Scotin 15.88 Beech--Life Savers 129 Bell Telephone:
2.50 Benefcial Financs 2595 | Bendix Aviation: Corp.
180 Benguet Cons.
American Contrectati
July/Aug
Oct/Nov.
Dec./Tan MA
23.50-
PRICES
LONDON
carrier has 24 derricks
A
11,850 tons gross refrigerated carro liner, with 24 derricks was launched recently at the Belfast yard of Harland and Wolff.
The vessel is 512, £t. recall
and has moulded breadth of
70ft,Shé 1 of the complete superstructure pe designed
New
British
an insdern lines with a strut tanker delivered
well" raked
rounded stom
ruiser sem, two masts and a single" oval: funnel.
There the three complete.
30 decks, a lower deck and
7,200
A oil tanker of 47.2
tons deadweight recent
Nos. 2 and 3 bold; & tunnelly went into the service of deck. aft of the machinery the Pacific Steam Navigation space, forecastle, long bridge, Company from the Belfast boat; and navigating bridge yard of Harland and Wolff,
Ltd..
deck's
?
The hull is divided into nine Narnest, the William Wheel- watertight compartments by wright, she is a single screw
| -2917] eight wahrlight bulkheads, all turbine oil tanker with a length
of which, accept for the after-between perpendiculars of 716 836 most bulkhead, extend to theft. She has a moulded breadth
shelter Beck
of 98 ft. and the depth moulded-
205
130
Having a curved raked stem md cruiser stern, the hull is constructed on the longitudinal system of framing with two lon- gitudinal bulkheads and is divid ed by athwartship bulkheads into twelve sets of cargo oil-carrying
There is compartments
A double bottom is tied fore to the upper deck 52 ft. 6 in. and Eft and arranged for the I carriage, of fresh water, water ballast, oil fuel, and lubricating Toll, the fore and after peaks 54% being ranged
for water ballast. Oll fuel tanks are also amratiged at the sides of the shaft tungel under Nos. 4 and main cargo pamproom and a for- 57% 5 holds. 1331
88
130
Gen. Tyre & Rubber Getty Ou
634.12 Glidden Co. 139.71 Goodrich (B. Co
94.09 Goodyear Tyre 209 20 Grumman Aircraft
83.27 Gulf O 144.74 Harmon Organ
$394
Heyden Newport Corp. Hiram Walker ..... Homestake Mining Co. Husman · Refrig; Idaho Power
50% Imperial Oil
31% Imperial Tobacco
53% | Ingersoll-Rand
Inland Steel Co.
281
Interchemical Corp.
41
19
Int'l Business Machines Int Harvester
614 International Nicics!
6934 International Paper
Int'l Tel ATTE
52% Johns Manville Co
177
Kaiser. Industries)
Kansas C. Power & Light
211⁄2 Kennecott Copper
$44 Kimberly Clark
5024 Taggett & Myers Tab. Co.
28 Lily Tulp
6914tion Ind
37% | Lockheed Aircraft
35%% | Loewe : Incorp.
19% Lone Star Cement Co.
Lowenstein & Bons,
1234 McDermott J. Bay
McDonnell Afterači
63
Merck
13
Minnesota Mining
やんさん
403%
Mission Develogaiunt
Molson Brewery
Montanto Chemical Co. Montecatini
Montgomery Ward,
2012 National Biscuit Co. 04% National Cash Reg.
National Dairy Prod, National Lead National Steel Corp New York Centrsű Noranda Mines Ltd. Norfolk & Western Ry North Amer. Aviation Northwest Airlines (Com) Oklahoma Nat, Cas Olin Mathieson Oil Elevators Owen-nola “Cinem Oxford Paper Co Paciile Gas: & Elec. Pan American Airways Paramount Pictures
35.03
Parke Davis Co.
Penn, Salt, Co.
Philip Morris
Pitney Bowes
Procter & Gamble Co.
Pittsbung Plate Glass
Closing prices el in pence Publicker Industries
LIVERPOOL
Mar
Closing prices all in pence pur
May
July
7b.
per 1b.:
No. 1 Ropot
Settlement house term:
Jury/Sept
Oet/Dec.
Jan./Mar.
Apr/May
porte:
July
Aus
Bept.
Mixed Contract
Judy/Aug
Dec/Jan
MBE ZADELI
材料
METALS
NEW YORK
નવ ક
Closing prices, all in cents per
COTTON
b Land
July
Sept.
Zing y
Sept.
Copper Toky Bept
Cloring pr
32.90 30.90
per long ton
·31:44
31.78
Ti spot
31.80
31:58
3180
Lead
Zine: 1st
ORLEANS
Closing prices all in cents per
RESE
REBBER
Pure Oll
3115-814 Halo, Corp. Pref.
Radio Corporation:
-31.46
Raythena
Republic Steel
313 Reynolds Metal
Reynolds Tobacco
36
Royal Bank of Canada,
General markets, c.lf basle, Royal Dutch
Delate creps then fully...
thick
AMSTERDAM
Rheem_Mfg,
Sears, Roebuck & Co.
316-314
31%%-51% | Baleway: Stores.
Faint Reg. Paper
Schenley Inc..
Scots: Paper
Biegler Corp.
Closing prices all in guilders Bunchirpur
per kilogram, e,1.1.. July,
No. 1 rubber
No. 1 rubber
No.3 rubber...
No. I crepe
Smith, Kine #2) punch
208 buyers Bocnychher
304 Buyer Bouth Pubito Rico Bug
24 baryers Southern Co. (The) 343 buyers Southern Natural Gas
UEL Southern Hallway (Com
FOREIGN
ENCHANGI
Standard on 627 Standiltä Oil or NJ
Steel Co. of Canada
Rook
one
ward pum.proom, two coffer- There are six main cargo dams and deep tanks forward halds, three forward and three for oll fuel 361 aft of the machinery space with
Wing bunkers at the forward end of the engine room and the corresponding 'tween deck's e
The holds end tween decks double bottom under the engine served by large cargo room are also arranged for the carriage of all fuel. The fore hatches, those on the weather and aft peak tanica, are arranged deck being fitted with for water ballasta MacGregor patent single pull Covers,
Equipment for rapid working includes ateam driven pumps for
The cargo handling equipment dealing with the curso all, steam comprises one 60 ton, one 26 driven winches, cable lifters and fod, four 12 ton, two 7 ton, eix cinstans. The electric hydrau 5 ton and ten 3 ton tubular steel le steering gear, is operated derricks and twelve 3 lon and from the wheelhouse. by com- ten 5 ton electric ego winches, bined electric and telemotor cach winch being operated by control and by direct control
deck remote control. A 7 ton desrlek from the after boat 5534 is also provided for dealing with Ample and comfortable machinery parts through engine commodation including
lounge is provided amidships room skylight.
4056
53
10
50%
An electric windlass is fitted for captain and navigation 8116 on the forecastle, deck and two officers and on the boat deck electric warping capstans are aff, goop, and upper deck aft for engineer officers, petty officers 30 fitted att 10% The yousel has a streamlined and crew!-
rudder operated by electro- A large dining saloon with amokeruum, petty adjoining hydraulic steering gear com trolled from the wheelhouse by officers mess with adjoining 10% telemotor. "
smokeroom and a mess room for The captain's accommodation, the crew are arranged on the wheelhouse and chart room are poop deck convenient to galley 1803 arranged in a deck house on the and pantries. An officer por ta
navigating bridge, the officers tion room is situated on the and engineers accommodation, poop leck and the crew's re- including their smokerooms and creation room is under the upper general rooms, in decidhouses on deck. the boat deck, and the dining |_**)
The propelling machinery
30094
saloon, galley and accommoda- made by Harland and wolk Lindted consists of a single tion for the petty once screw arrangement of double, re- 18% stewards, seamen and greduction articulated type geared 40 with their mess and recreation turbines developing a total of rooms are arranged in deck 15,000 shaft horse power in ner- housing on the bridge deck.vice.
Mechanical ventilation, pune
kah louvre systems, is provided Stearn at a working
of 600 lbar per sq. in. 564 throughout the accommodation | temperature of 950
45
The propelling machinery Fahrenheit at the 601% consista of, ma single-acting outlet is genera Harland Burmeister and, Wain code and 11812
eight-cylinder, pressure induc- Superheat
tion two-cycle, engine of the They are complet
ulders latest opposed piston
art
71% design with exhaust pistons controlled by excentrics on the 02ankshaft. The bore of the burning
main cylinders » de 750 mm, and
the combined stroke 2000 mm.
The engine
tally-en-
closed, forené lubricated heet British seamen
reversing and arranged for air-
Zem injection of beary
fuel off, and, when required strike spreads
diesel grade fuel oll. The en-
Eine is coupled direct propeller shafting, and Bervatively rated to
the required power at 110
Japanese to buy
UK whaling fleet
On
men were
total
claim for
reso girls are capable of such, one wych (we have to find & cut what izan giria can do t