||
*
Part1
THE CHINA MAIL,
WEDNESDAY, JULY 20, 1960.
AUTOMATION IN London New technique HONGKONG
closes in overtaking
dull
London, July 19:
Stocks moved irregularly in
dull markets with buyers
mainly preferring the
sidelines rather than new commitments.
Priite
Minister Macmillan's
talk to industry yesterday
West's industry
BY ALEXANDER THOMSON
London, July 19.
STOCK
EXCHANGE
O Own Comic Adaa
Business done at the Hong- Exchange this
Jong Stock
to 9p morning amounted proximately $1,941,000. Noon.
RUSSIA
N.Y. stocks
continue
on downtrend
New York, July 19.
This is a house that Adams built. High qutations and the morning's Stocks seesawed within a
exquisite ceilings;
Elegant fire-placés,
Lovely
urging a greater expart effort But there is a telephone exchange behind a glass
probably made for buying restraint.
screen in the hall to remind you that it is now in the world of business.
HK Bank Whart
1200 1813 2011
300 108
Transcations:
doors.
Shares Buyers Sellers S
wheelock... Dock
240
17.39 7.40 1000 @ 7,40 3000 tv 7.33
108 109
Provident HK Hotel RK Land
38 5814
add 58 1800 & 68
58
300 30
22.15: 22.40
Losses spread through in- dustrials but were mainly in
ho had any Mr Leon Bagrit, Managing- I asked if Firm spots small fractions.
Director of the £13 milion worries. In a flash he was rid- developed in afternooi trading
and Elliott-Automation firm, has his Ing his pet hobby horse again. when motors improved
"Yes," he said. "The way the steels regained earlier small headquarters here.
In what was once the first Russians are automating their Yaumali some engineering foor drawing-room, falls and
we dis-industries. They are still behind Tram
C. Light moved to the uptrack. Papers cussed today one of his favour- us technically. But that will not and textiles drified tower with the topics: automation in the prevent them from being really
breweries.
Russian industry.
big trade rivals in a few years.
He said: "The Russians are going in for it on a huge scale. pattern on their factories as fast as they can.
"I have always warned that Electce automation idea with both hands.
Glit-edged continued yester- day's firmness and were up to 4th sterling better, Foreign"They are imposing this new one day they would grab the bonds idled and collar stness were mainly lower under Wall Street's lead,
They realks that because of Good shares lacked support their political system they can and showed a spread of small move more swiftly than the free losses. Coppers were mixed enterprise West. with selling from influence
Brussels an "And they see in these new techniques, means of evertaking deus in industrial production,"
Oils see-sawed but Armer.
Rubbers were mixed an
cased,-UPI.
Closing Prices
Guitedged Bonds
teas
British Transport 3%. 1978/88- 601%
Conzols 21-£44.
Console £007.
New plant
Leon Bagrit gave me an ex- ample of the kind of thing the Russians are doing as we sat talking at opposite ende of big settes.
â
"We have just designed for them a completely automated ure-separation plant to be built 195da-ih Siberia," he said.
Converdi Lan SHAR 1961-
200.
Loan Funding
J 261
Funding Stock 3, 1999/2004 —
180/5 4.
Funding Loan
£8724.
Jd.
Savings 3%, 1856/65-8734
Savings 3%, 1000/70-7974
Savings %, 1965/75-2704).
Banks Barclay's Bank "A" Ltd ord-50%
Chartered Bank d. Hongkong-6PPL
Lloyd's Bank "A" 30.
Insurance Union Insurance Canton-C5-13/16.
Aircraft and kiotors
British Motor Corp. Ord-16s 14d. Ford Motor Co-101s 1140.
Hawker Siddeley Group Ord-234. Rolls Royce Lad Ord-3. Rooies Ltd-A-10.
Stendard Triumph International
Eg Bd.
Breweries
Distillers Co3a 3d.
Scuth African Breweries-23 6d. Buliding and Materials.
Cement--86%9 Associated Portland
Goodlass Wall A Lend Ord-36H Tikd
Coal, Steel and Engineering Babcock & Wilcox Lid-368 411⁄2d. United Steel-79 Bd.
Vickers Ltd-11d
Co.. Lid-3s
Food and Tobacco British Amertean Tab.. Co. Ltd- 6: Bd.
Imperial Tobacco 3d.
Miscellaneous Boardman Marden Lid-4ẽ, -British Oxygen Ltd. Ord-285 #d.
Canadian Paciße Fly-643,
De La Rue Co. Ord--823 d. Dunlop Rubber Co-27 6d. Glimen Holding Lid
44.
Hongkong & China Gas-16s n. Imperial Chemical-83 711⁄2d. Lyons & Com 750. Unilever Lid-1633 3d.
Paper
Bowater Paper Corp Ord—-556.
Radio & Electrical
Associated Electrical-503-3d. Electrical & Musical-19s. English Electric Co-385. General Electric-380.
Shipping
Indo-China Steam Nav. Co, det ord-238
"It is the biggest job we have ever tackled. It is science with a capitol S.
The whole project will cost between £80 and £70 million Our share will run into many millions.
"But this will be only one of the many plants they are now building in a very big way."
Another example: in Moscow the British Scientific Manufac
has turers Association having an exhibition:
"I wish I had been wrong. But I am afraid I was only too right."-Express Economie Ser- Telephone
vice.
NY sugar market
►
Cement Dairy
narrow range today before finishing slightly on the downside for the seventh consecutive session.
Prices as a whole were firm | Burroughs. Add Machine after the opening through most British Amer. Of
500 20.30 of the afternoon but demand Cat. Packing Corp faded near the close and drop- Cana, Bk. of Comm Ded many issues to their lows Cana. Brewers for the day.
The better gains appeared in issiles outside those used to compile the
averages
Campbell Soup Ca
Canadian Pacific B
Case (J.) Co.
Cat. Tractor
Celanese Comp
and
CT. Finsnehl Corp.
Chase Manhat Bank
Chrysler Motors
22.29 generally, ratiged from one to
1000 22.30 two points.
100 22.39 100 22.40
Chuett Peabody
The early demand was attel-Colgate Palmolive Co.
Commercial Credit. 28.40. 28.50- 1574 € 2810buted to the slight improvement Colombian Carbon Co.
1000 29.30 inhe news background, but Consolidated Edison 200 28.40 trader cautiousness over the Continental Can 2100:2015
10623.30 International situation and the cloudy business outlook won out at the close.
100028
+1000 € 2815
38 2014 337
500 438
3600 Gr 38
5215 54 1609 @ 53% 235 28.70 1509216 2006 28.50 2000 + 28.70 1000 29.70
Walson 23.00 25.10 Allied Invest Textile.... Nanyang New York, July 19. World No, 4 sugar futures today A. Rubber.
closed three points lower to
R. Trust s point higher on sales of 439 contracts.
one
Today's volume was 2,490,000 shares. Or a total 1,205 issues traded, 482 were higher and 463 lower,
Continental Oll of Del
Crane Co. an unfai Crown Zellerbach Cuban Amer. Sugar Delaware & Hudson Co. Diamond Ala Diamond Gard Demers Scarame Dominion Stores Douglas, Aircraft Daw Chemical ...........
Eastern Air Line
150628.70 American exchange volume Dupont de Nemours 500-28.74 was 830,000 shares. 1500 € 28.80
Barids volume amounted $4.840,000.
Eastman Kodak
El Paso Natural Gas
to Family Finance Corp.
First Nat. City Bak Ford Motor
Georgia Pacific
General Dynamics General Electric 138.94 General Foods
"
11:20 11.39 1000 1000 1614 18,7 690 1:14 1000 – @ 6,85. 1000 6.55 815 880 200 8.45
1700
m 20 11.20
Tow-Jones closing
averages:
30 Industriais
124,78
20. Rauls
Unutes
8.
3000 @ 6,50
1536-83%
5:8 # 095
Domestic No. 6 sugar futures Taikoo Dock 535 6435, 1600 54 closed
to three points higher on sales of 141 con- Humphreys 23,30
Realty **** 1.80 1.625 5000
3000 130
100 14.00 1415 14.60 K Gas
tracts
500
23.30
1.80
# Stocka
* Bonds
Comm. future price indes
Closing Prices
>
Abitibi Pur. & Paper Alden Inc. Acy.
ABied Mills Inc.
94.43
General Motors
207.32 Gen Pub. Ul.
83.48 Gen. Tyre & Rubber 144.63 Getty Oil
Gildden Co.
Goodrich (B. F.1. Co.
Good yest Tyre
Grumman Aircraft
Gult Ol
49% Hammond Organi
Heyden Newport Corp. Hiram Walker
Hutaman Berig.
Imperial CU
39
Algoma Steel Corp.
31
Allied Chemicals.
544
300 @ 1411⁄2
3433
Homestake Mining Co.
500 sa TALÁ
Allis Chalmers
Am. Brake Shoe
100%
Idaho Power
Gilman .......... 1.9% 2.0%
Int. Invest.
8.75
100 24 2500 141 2000 2
soho #2
American Airline
20
Am. Cable & Radio Corp.
Imperial Totaged
American Cyanamid Co
3334
8.83
Artier, & Faceri. Bawer.
731
5816
16.30
60%%
233%
66
Bath world and domestic futures moved ahead sugar
amounts early in the sizable session but prices began to ease by mid-afternoon on nervousness of news created by the lack from the International sugar council meeting In London, Lane, Craw. Elliott-Automation had one The apparent slowness of the HKFE Invest.
In retting Vibro
been
of its latest computers on show. U.S. Government
It was bought on the first day.
up its reallocation programme
Since then enquiries have come for sugar purchases continued
for sixty others. "As nach of them costs well causing concern in
in
domestic
Over £ 100,000,"
that number would run contract "buying into big money.
said Bagri, quarters and kept the No Agreed merchant
The ugly wo
word "automation" denotes the next big step beyond mochanisation. It is the means by which machines are made to make decisions.
Bagrit claimed: "The speed- up in production this makes possible is at least as great as when power was first added to muscle,"
Heavy industry
In Russia, he said, dozens of technical institutes have been set up to study these new techniques.
In three years time he told me, the Kicy Institute alone is expected to have a staff c. 4,500.
And this will be for one"job only to study the problem of heavy industry in the Ukraine, Bagrit declared; "The Russians have a committee of ministers
F&O Steam Navigation def ord--whose main task is to Co-
3T# 34
Stores
Debenhams, Lid. Ord-453 144. Great Universal Stores "A" 48
-Marks & Spencer Lid-78 d.
Woolworth 7. W. Co-668 74.
Textiler
Conta JP Lid-40s 3d.
Courtauld's Lid-68s 775d.
Mine
ordinate work of these in- stitutes.
of "I doubt it many cabinet ministers even know that we exist.”
our
But he reports a welcome
trend. This year there has been
a considerable increase in in-
· Cons Goldfeide of South Africa-terest of the British industry in
588 54.
Can Zine Corp. Ord-778.
De Beers def-142% 6t.
Hongkong Tin-lls lid.
Petaling Tin—7a 75%d.
Rand 10
Bouthern Kints Cons Lid-27 3d. Union Corps 1154. West Driefontein Goldmining-785 ed:
01
British Borneo Petroleum Syndi
cute 40%.
British Burmah Petroleum-d British Petroleum Co., Ltd 008. Burmala šid.
Royal Dutch Petroleum-212, Shell Transport & Trading-133
-Reuter.
Chicago grain market
Chlongo, July 19.
word
Nearby born rutares
fraser, but other grains were irregularly lower today on the Chiengo bosed of trade;
the automation idea. He said: "For the first time we are being approached by heads of big cor- porations who feel they ought to look into it.
"They come and say they do not know what they want but could we send them study teams
above prior closing levels, although trading tapered off in the late hours.-UPI.
Exchange rates
unofficial
15.88
done in the local Business was
exchange market this morning at the following rates; US dollar (per #1)
5.70 Sterling notes (per 21) Australian notes, per £1)
12.56 Indonesian rupiah (per 100) 2,70 Siam ticals (per 100) Singapore (Straits)
rates
buying
U.S: Dollars, Maximum selling 17-15/32 Minimum 17-23/32 T/T; 17-25/32 0/D; 17-27/32 30 days; 17-15/16 60 days; 18-1/32 90 days,
Canadian Dollars, Maximum selling 17-1/16, Minimum buy- ing 17-5/16 T/T; 17% O/D.
Belgian Francs, Maximum
20.00
1.86 selling 867.
Yesterday's Closing
COMMODITY
Closing prices, all in cents per lb.:
LONDON Closing prices, all in sterling
LIVERPOOL
Closing prices all in cents
Am. Gas & Electric
Am. Home Prod.
Am. Mach. & Fóry.
American Metal
Am. Natural Gas
American Emelting
Am. Sugar Ref.
American Tel & Tel American Tob.
Ampex
Anaconda Copper Armco. Steel Armour
Asbestos Corp. Alla Cons. Mining Baldwin-Lima-Ham. Baltimore & Ohio Bank of Montreal
Bank of Nova Scotia Beech Life Savers
B. C. Tel, Co. Bell Telephone Beneficial Finance Bendix Aviation Corp. Benguet Cons. Bethlehem Steç! Boeing Airplane Borden (The) Co.
PRICES
SUGAR
NEW YORK ·
Ingersoll-Rand:
Inter-chemical Corp.
In 2 Business Machines
Int'l Harvester.
International Nickel
International_Paper Tat'l Tel & Tel
Johns-Marille Co.
514 Kateer Industries
90
Kucas C. Power & Light Kennecott Copper
$14 Liggett & Myers Tob. Co.
253ify Tulip
50%
Lition Ind.
65% Lockheed Aircraft
221
Loews Incorp.
Lone Star Cement Co. Lowenstein & Sona
13 McDonnell Aircraft
Merck
32b Mesabi Iron Corp. 58 Minnesota Mining
Mission Development Monsanto Chemical Co. Montecatini
444
Montgomery Ward
National Blacuit Co.
15
29
65
45%
2014
National Lead
13% National Cash Reg. "A"
National Dairy Prod.
494 National Steel Copp.
New York Central Noranda Mines Ltd. Norfolk & Western Ry North Kiner. Aviation Northwest Airlines (Com.) Oklahama Nat, Gas Olin Mathieson CHis Elevatore Owen-Illinois Glass Oxford Paper Co. Pacific Gas & Elec. Pan American Airways Paramount Pictures
Closing prices all in cents per
Parke Davis Ca
Per Salt Co
Philip Morris
Pitney Bowes
Procter & Gamble Co.
Pittsburgh Plate Glam
Publickar Industrie
Pure Of
Radio Corporatlan Radio Corp. Pref,
Raytheon
Repubile Steel
Reynolds Metal
Reynolds Tabacoo
Royal Bank of Canada.
Sears, Roebick & Co.
METALS
per lb.:
American Contract
July/Aug
22.50
Oct/Nov.
Dve/Jan.
NEW YORK
Mar/April
May/Jung
Mixed Contract
bb.:
July/Aug.
Lead July
Sept. Zine July
Sept.
Oct/Nov
Contract No. 4.(world)
Royal Dutch Wa
11.25
Dec/Jen:
3.30
spil pui Co. ****
$1.25
- Mar/April
Baterway/Störes
May/June
Jan.
Saint, Reg. Paper
Copper July
Mar
.
Bept.
30.68
May
32
Schenley, Inc.
Scott Paper.
July
Spot(F.A.3. Cuba)
Siegler Corp.
Total Sales: 150 contracta
Open Interest: 5,003, contracte
Smith, Kune k' French.
Buyers Sellers
Contract No. 6 (domestic)
Bocony Mobil on
Solar Aircraft: Pi.
Sept.
Spot
81815
Nor.
6.14
3/month
$17.
Spot (C... NY, ex-chaty)" 8.20-
Total Sales: 141 contracts.
Apot
3-month.
248
Lead 2nd half, July
NEW YORK Rex rubber futures closing prices, all in cents per lb
Open Interest: 2008 con
UPL
43.10
Sept
38.00
Nov,
37.05
28.50
Mex
39.20
July
to look over the factories and per long tou
give advice. A number of big Tu
schemes are being worked out.
Leon Bagril, dark, dynamic
and 57 took over as top execue Copper
lye of Ellott-Automation com
ceen 13 years ago.
- He seized on the automation idea and developed it with Zine 2nd half-
vigour. Today the firm is the
biggest in Europe, specialising In these methods.
Over the years its payroll tas }risen from “É 800 16⋅ £9,000. Pro- fits have spiralled from £2,000 to more than £1 milion
New factories
What about prospects?. Bagrit
with one full cine of the biggest optimists 1195
have had the good fortune to, meet.
up coment mathing to even i
July contracts, cats,
He reported: "Our order boole and soybean deliveries fell der
liquidation. ... is more than 25% up on a year Hedging sted in wheat ago and that le without leking fell to into account a lot of work Ul and at the design and decusalon
Intereste
COTTON
$2.25
RUBBER
-SINGAPORE
Closing prices all in Bira(ls
cents per l tobi Malayan
July
No. 1 Aug
No. 2 July
ho No. 4 July
FOREIGN EXCHANGE
NEW YORK Closing" rade. 2934Canada
England
No. 3 July
· Kypt · rubber, Kinbaled
New Zealand
South
Belth
LONDON
Dibers
Closing prices all
Settlement"house
6.50
8130
Sinclair Of
South Puerto Rico Sugar
Southern Co. (The)
Southern Natural Cias
Southern Hallway (Com.) Standard Branda"
Standard Oil of Cal Standard Oil of Ind. Standard Oil of NJ, Steel Co. of Canada Btery Rock PENY
Staring Drug Co. "Blokaly Ván "Campi
Storud · Sz Webster
„Studebaker-Packard | Corp.,
Sunshine Muning:
Bvin & O
·Textran`Inc. Thinkcol Chem. Tide: Water' Okt 3/22 The Inga
Cont
entury Fox
Union - Dil
Uniret
490%%
583%
西ち
91
1181
伯樂
7814
Ma
30
New techniques ship-building
www
& 0.
Work is nearly completion on the £12 million Orient Line 40,000-tors flagship Oriana, the biggest liner to be built in England is now being fitted at the Vickers Armstrong yard. Many new ship-building techniques have been used in her constructies, of which the medstandby is the 1,000-ton all-welled aluminium sajieriteneture, which looks more like a building than a ship's superstructure, and an such is the largest ever to be built in a British Malta,WIS E total area of nearly 350,000 sq ft, the Oriana's superstr ture contains more aluminium
the #10 States. Five decks, two bridges, necks and are contained in the superstructure, which a prefabricated forms away from the main
ire the fiberglass lifeboat 21 in 20
Well MacLachlan
dock invite which
Bota e da angle under the deck beads, with mor boats, which can each seat 144 persons, the Oriang. first liner to be completely fitted with batch Wiesb
there is the bulbous forefoot to the bows
the liner to travel faster without the added exper
now being used on most of the modern liners under struction. The giant liner will come inte service Inlay year when she will curry 3,000 pamengers on the SowthEmoti Bydney rain, cutting the time for the voyage from four to Liter weeks. Plotures show the massive funnel-29 feet being swang aboard the liner, and below the fibreaiad life boala Central: Prem pliotok..
P&O SELL REPAIR YARDS
London, July 19.
the yards bare been developed
gineering and contrac
THE PO Group on more and mare into gener
nounce that within Frisch strució tota recent weeks they have con- lost the purpose for cluded the sole of the Group were former repair yards in Bombay and Calcutta ; to the i, indian the Gavemment, and their in-
ext in Mogul Line
fanTM shipping