COMMODITY PRICES
Contract No. 4 (world)
30-3016
2014-30
General markets, c.lf. basis, ports;
Estate crepe this Aug.
thick Aug. AMSTERDAM
Closing prices all in guilders,
THE CHINA MAIL, WEDNESDAY, AUGUST 10, 1960.
METALS
NEW YORK
LONDON
cents per
11.10
1145
11.40
30.35
30.29
Closing prices, all in sterling
Jatt./Mar.
SUGAR
Apr/May
Aug.
Bept.
3054-2014
Closing prices, 1. ** ***7
Oct.
302-304 Lead
Sept.
Nov,
3315
Zinc
Sept.
NEW YORK
Nov.
Closing prices ali in
conts
Copper Sept.
pcr fb.:
per kilogram, c.i.f. Aug:
Nov.
No. 1 rubber
2.04 buyers
Sept.
3.18
No. 2 rubber
2.93 buyer
Oct.
3.25
No. 3 rubber
Jan,
No. 1 crepe
2.82 buyers 3.30 buyers
per long tan:
UPL
Mar.
Buyers Sellers
May
Tin
July
Spot
BOT
Spot-IFAS. Cuba)
3-month
800
Copper
Spot
26035
-Contract No. 6 (domestic)
3-month
247is
Sept.
6.09
Lead 1st half Aug.
2007.
71
Nov.
1.34
800
Zinc ist half Aug.
MIT.
15.88
NEW YORK
Nov.
86
Spot-ICLE. NY. ex-duty) 5.90
Closing prices all in cents per
Total Sales: 33 contracts.
Open interest: 4,784 contracts...
Spol
Oct.
Dec.
Mar.
May
July
Oct.
Dec.
Mar
Poral Sales: 298 contracts,
Open intere: 4,190 contracts,
Jan.
UPI.
RUBBER
NEW YORK
Rex rubber futures closing prices, alt in cents per lb
Sept: 37.05: Nev: 35.95; Jan: 35.45: Mar: 34.95: May: 34.30: July 34.
SINGAPORE
Closing prices all to Siraits
COTTON
NEW ORLEANS
2885240288
33.00
Closing prices all in cents per
Sput
mel
Dec.
Mor
May
July
10412-104% 1051-1954
Dec Mar May
104-10414
cents per lb. fo.b. Malayan
ports:
No. 1 Aug
No.1 Sept.
No. 2 Auk
No. 3 Aug.
No. Aug.
Sput rubber unbaled
Blanket crepe
No. 1 pate crepe.
LONDON
103-104
Closing prices all in pence per
th.:
No 1 Ras spot
Settlement house tel:
Auy.
Sept.
Oct/Dee.
89
FOREIGN EXCHANGI
NEW YORK Closing rates; Canade
33.00
30.92
England official
•
23-days
1.03-1/18 2.8100 2.8000
31.27
90-daya
2.TRIS
34.12
Austraila
2.2450
22.20
New Zealand
2.7080
South Africa
2.8140
90
Others unchanged.
LONDON Closing rates:
Montreal Anisterdam Brussels
LIVERPOOL
Closing prices all in pence per New York
8889
Copenhagen Frankfurt
Lisbon
1024-103
1b.: 1042-104% i
97-98
American Contract
114-115
Oct/Nov
Dec/J
Mar/April
2.30
May/June
22.40
Oslo
Mixed Contract
Paris
30-3014
Oct/Nov.
22 85
Stockholm
Dec/Jon.
Milan
304-3012
Mar/April
Vienna
301-30-5
May/June
22.76
Zurich
30-3015
-UPL
22.60
FIRST HONGKONG FUND
INVEST IN THE FUTURE OF HONGKONG!
IMPORTANT.
2.307-2.81 2.72-9/16-2.72-11/16 10.3915+10 BEBA + 141.02-243.07 19.35%-19.369 11.7114-11.7144 60.20-30.30 20.02-20.02% 13.76%-13.70% 14.49-14:48 274331-174934 72.5870.58 12.1634-12.10%
The offer opens on 8th August, 1950. and closes not later than 16th August, 1960. Applications must be received at the offices of the Managers, Hong Kong Unit Funds Limited, P.O. Box 690 Hong Kong, or 701 Alexandra House or at The Hong Kong & Shanghai Banking Corporation, The Chartered Bank or The Mercantile Bank during that period.
Na.
FIRST HONG KONG FUND
OFFER OF 1,000,000 UNITS AT $1.00 PER UNIT PAYABLE IN FULL ON APPLICATION
All shares currently included in the Trust Fund are shares
quoted on the Hong Kong Stock Exchange
+
-FORM OF APPLICATION.
APPLICATIONS MUST BE FOR A MINIMUM OF 500 UNITS AND THEREAFTER, IN MULTIPLES OF 100 UNITS
. Tại HONG KONG UNIT FUNDS LIMITED
I/We hereby apply for....
units in the First Hong Kong Fund at the advertised price of $1.00 per unit, in accordance with the conditions contained in the offer and subject to the terns of the Trat Deed dated 12th July, 1960.
UWe enclose cheque/money order/cash for ..............being payment in fall for the number of units applied for. I/We understand that the money will be returned to melns in full if no Unita are allottede
We deditre that 1/We am/are over 21 years of age,
SURNAME(S)___(la English)_
Meu Miu ar Mird
OTHER NAME(S) IN FULL.......
ADDRESS
SIGNATURE(S)
Telephone No.
Date.
In the case of joint applications all persons must sign. Corporations should com- plete under the band of an authorised officer whose designation should be rated)
CM
NOTE Detaild Information Folder is available from Hong Kong Unit Funds Limited, 701, Alexandra House or P. O. Box 690 (Tel. 28106) or from lesiding Banks or Members of the Hang Kory Stock Exchange.
UPI.
F*t}"
BRITISH INDUSTRIES Expert would London Modest advance
like less
small firms
By ALEXANDER THOMSON
London, Aug. 9, Sir Norman Kipping looked at me through his bifocals and rattled out figures with a machine- gun-like rata-tat-tat as we talked about the
export problem.
About 40% of the 8,000 firms in the federation of British industries' employ fewer than 100 people, he said.
"Only 2 Army in Britain,put more pep into Britain's ex- have more than 5,000 on their port trade? payrolls and only 402 employ 2,000 or more.
"All fold, 10 million men and
manu-
But
4
women work in our facturing industries. million of them are in bust- nesses with less than 100 workers."
+
Sir Norman, 59, is director general of the FBI (Federation of British Industries).
He is a tall scholarly man who comes from farming stock.
He chooses his words carefully when he is talking officially. But his off-the-record asides are free-and breezy.
I bad said: "Some well in- formed folk in the city maintain that one of the reasons why we are ging behind" other coun- tries in extort selling is that we have too many small concerne and not enough big ones."
ADVANTAGE?
I had asked: "Is size really an advantage in the scramble to sell goods in the export markets of the world?” ·
The figures make you wonder. Look for example at the Gar- mans' performance as exporters In the last six years,
Admittedly they have not had to make the big defence effort that we have. But they have : doubled their overseas selling which is a tremendous feat.
closes
steady
London, Aug. 9.
Stocks started hesitantly to-
day but buyers Jaler put
continues
in Wall Street
New York, Ans. 1. The stock market worked its way Higher again to day, but the advance was modest and was centred only in a
few major groups.
Industrials back on the up. Coppers and viis scored Bendix Aviation Corp.
track.
་་
sharply at the expense of the Benguet Cons. “31.
favoured electronics Bethlehem Steel Boeing Airplane
The June fall-off in instalment | récently
plan buying of consumer duri and aircrafts. Buyers appeared bles caused early caution and so favour issues which in recent motors hever shrugged off fears sessions have dropped to so- of falling sales through the
The called bargain levels. credit squeeze.
Some of the thrust came from Magma, Phelps Dodger and the copper "Our Government," he de-take-over speculation with three Kennecott paced
more companies added to the section with coing running to clared, "should provide more fist. Chemical ond Aspirin more than two points Anacon- money for spending on trade fairs makers Howard and Sons spurted da rose more than one.
five shillings to 51 shillings.
Steels scored scattered rises, Brukers attributed the The Board of Trades alloca-
breweries were strong
in coppers to and strength tion for this purpose has recent-Dunlope wheeled ahead on Paris Cage situation where develop ly been increased but only from buying. Stores and textiles end- ments could create wjrid £160,000 to £250,000.
and exhibitions overseas.
"This is quite inadequate." said Sir Norman. "The Germans will spend £860,000 or more this rear..
"To me it seems strange that the Government should spend nearly £4 million a year on the British Council and its cultural activities and so little on this kind of frade promotion."
After all, which comes first the chicken or the egg?
(London Express Service).
HONGKONG
STOCK EXCHANGE
by
Our Own Coresmandent
Business done at the Hong- kong Stock Exchange this imorn- ing amounted to approximately $814,000, Noon quotations and the morning's transactions:
They have lifted it from £1,500 million in 1954 to more than £3,000 million last year. And their industries are organis- ed into larger groups that ours. In contrast, Britain's exports of manufactured goods have risen at a much more modest rate. In the same six years they have . E. Asta - 200 expanded from £2,170 million
to £2,800 million.
It is rather like compering the acceleration of a racing car
Share* Buyer Sellers HK Bank XD 1080 1206-
Lombard Ins.
Undon Ins.. Wharf Co.
Wheelock.
on Mozi circuit with a family HX Doc's saloon on Brighton Road.
Sir Norman Kipping puffed at C. Provident
HK Hotel.. pipe and said that he did not like talking in
a well-smoked
generalicles.
HK Land
But he added:
"The figures I
have given you
and large we
230
Sales 4 1195 301186 300 @ 200
7.66 7.70 13150 ₫ 7.70 1000 @ 7.70
107 100 400 106
XPO show that by Youmeti...
still are
2 Star Ferry 100
nation of comparatively small Macao Elec. 12.40
firms.
FUSION
IC
the
ed looking brighter with Leaders shortages of the red metal and like Courtaulds and Lancashire cable domestic producers to
work off their inventories. Cotton tacking on pence.
Imperial Chemical Industries notched up a fraction, Banks and property counters held firm,
cement
Associated Portland improved on their Canadian deal and philips lamps extended their advance.
Cape influences kept gold mining etares steady but as and coppers both eased.
Zenith toppled around three points in a mostly lower Tronics division.
ཎྞ་!"
Motors were irregular, firm and tobaccos higher.
elec
Barden (1776) Co Burghs Add Machine British Amer. Di Calif. Packing Corp Cana. Bk, of Commo Campbell Sòlib :Ca
Candied Pacie R. Caon J. 1) Co. Cal, Tractor Ceiante Corp.
Financial Corp.
Chase Manhat,, Bank Cheyler Motors Ja Cuett Peabody Colgate-Palmolive Co. Colebian Carbon Oo. Costurercial Credit
Consolidated Edison
| Consolidated Paper or y Continental Can Contents Off of Del.
Orender Put Crane Cg
45.
Crown Zellerbach
Duban Amar-Sagaz
Delaware & Hudson, Co. Diamond Alkuti Diamond God:
rails Dominion, Stures
Today's volume was 2,700,000 shares. Of a total of 1,210 shares traded 595 were higher and 375 lower.
American exchange volume Leading olls scored across the was 970,000 shares: board paced by Shell.
Rubbers and teas showed little change UFI
Closing prices
Cifledged Bands
British Traport 3, 1978/85– KAI-13/18,
Loan 3%. 1901-
Consols 25% £4-706, Conaels #%-260-0/16, Conversion
£50-11/18.
Funding Leen 3 281-5/10.
1959/08
Funding Stock 312%, 1900/2004–| Funding Loan 40. 1960/90 £877
ed.
Bd,
Savings 3%, 1055/65-287-11/16. Savinga 3%, 1960/10-20. Sayings 7%. 1965/75-1270-9/16.
Banks ►
Bonds volume amounted 4,820,000.
Douglas Aircraft Dow Chemical Dupont de Nemours
malam Ar kine Eastman Kodak
Pao Natural Gas Family Finger Corp. First Nat. Chy Banic
Part Motor Co. of Cana. Ford sata E..A..
to George
Grand Dynamics Geomal Electric General Foods
Dow-Jones closing averages General Motors
were:
20 Rails
30"Industrial
15 Uylites
Stocks
10 Bonds
Cont. future price index
Closing prices
Abitibi PWT, & Paper Alden Inc. Acy.... Algoma Steel Corp. Allied Chemicals Allied Milla Inc: Alta-Chalmers Am. Brake Shoe American Airline
Am, Cable & Radio Corp. American Cymamid Co.
Barclay's Bank."A" Lid ord-801 | Am. & Forgh Power
Chartered Bank-is.
Hongkong @BIND
Lloyd's Bank A-664 6d. National & Grindlays
Westminster Bank "A" Non-Cumulative=420,
Insurance
Am Gas. Betrie
Am. Home Prod.
Am. Mach & F'dry. American Mata!
Bank-344|| Ans, Natural Gas
American Smelting 12%. Am. Sugar Hef.
Union Insurance Canton-25%.
Aircraft and Motors
British Motor Corpsted—174. Ford Motor. Co-fs Bd.
Howker Siddeley Group Ord-296 734.
fibila Royce Ltd Ord-4ts 11⁄2d. Rodles Ltd. “A??—9a_9d2.
American Tel & Tel American Tob...
Ampex partn Anaconda Copper Armco See)
Armour
Asbestos Corp.
Atlas Con Mining
|| Bekiwin Lima-Ham.
Baltimore & Ohio
Bank of Montreal Bank of Nova Scotia
Standard Triumph International-Besch Life Savers
Breweries
Distillers Cola D.
South African Heweries 24s 3d.
Building & Materials
Associated Portland
Cement--689
Goodians Wall & Lead Ord-38s 30.
2:00 108 20 20.10 40% 40% 1500 40%
4014
500
56
s.
200 # 5741
182
Trom ...... 3 324 500 Q1. Light.
. 23.80 22.10
3000
21.00
300
21,90
64.
500 @ 21.00
Electric
23.10 28.20
*830 Gr 28.10
86 '3815
200 Gr 38%
200
100
1800
3,40
200 28
position in the export markets.
500 @ 28.40
"It must be very often true Watson that the impact of their selling Allied
500
28.40
25.90
559
34.
Inv. 5.55
1000 @ 5,00
J
3000 46 5.90 22000 £ 5.90
8.00 8.70
14 1000 @ 13.90
1000 @ 14
4000 13.90
"I would say
there must Telephone
be many instances in which a GI Cement, 631) 64 fusion of businesses in the same Dairy Farm 28.40 28.60 industry would strengthen their
effort would then be greater then if they made their efforts Textile individually,"
Nanyang Ex.
8.55
I pointed out that in some Bonus Issue 13.80 industries firms have formed themselves into export grOUPS. A. Rubber 6 8.45 10000 & 8.40
These groups do an excellent R. Trust Job, But the snag with many Talkoo Dock
Realty of them is that they do not go out and sell.
HK Gas..
L. Craw
Presumably this is because of the difficulty of deciding whose products should be given the big Gilman salesmanship treatment abroad. Rope
"If the firms in these organd- | HK & FE. sations were merged financially would not that problem be over- come?" I asked.
Sir Norman #greed that this might well be so.
"It is certainly true" he said, "that all our big combines do very well overseas."
Apart from joining forces with others what advice would he give to small concerns ́ anxious to try their luck at exporting?
"It all depends on the nature
of their products," said Sir Norman.
53 54 200 @ 54 1.775 7.625 1000 @ 1.823
30000 1.80 14.80 14.70 20 & 14%
400 14.80 240 24.60 20000 41% 2000 th 195 1600 @ 241
4 411 1925 2.025 ... by
Inv,
(N) Humphreys Int. Inv.... Bungala Vibra
14.90 22.70 23.30
9 945
15.30
200 @ 14.30
NY sugar market
New York, Aug. 9.
"I know of a little company World No. 4'sugar folures-to- making machinery putting the caps or mitic bottles, AR though it has only etrmployees it has had a tremend-
Escena sis for Exporter.
day closed unchanged to ve points lower with sales of 266 contracts. about 100
NOT SIMPLE
Domestic No. & sugar closed unchanged to 14 points higher with sales of 83 contracts. "But it has readily Identifiable World contracts Inclined to customers. Obviously they must soften as buyer Interest in the Be dairy competes in ink pro-spot market contracted
Conversely, a firm raw skua- For many
of the smaller on strengthened the domestic business however the problem contract and duced coverkig in
is not no shule. They will not the spot September delivery. Mrrow where the best selling thaiser west And înrang: déan
Trade sources understood that
Coal, steel and Engineerlag Babcock & Wilcox idéia Bú, United Steel-80 9d.
Vickers Lid-32% 30.
- Food and Todacto
British Ameriean Tob. Co., Ltd-
Imperial Tobacco Co., Ltd-62 3d.
Miscellaneous Boardman Mandes Ltd-1s, British Oxygen Ltd. - Ord-25% VIP.
Canadian Pacific Rly-43 De La Rue Co. Ord-«‚ ̈ Dunlop Rubber Co 27s 1011⁄2d. Guman Holding Ltd-Za 41ILA. Hongkong & Chitus Gas-15. Imperial Chemical-68 1440. Lyons & Co-81 740. Unilever L14--14la ́36.
Paper
Bowater Paper Corp Ord-50% #d.
Radio & Vinctrical
Asociated Electrical 50s Gd. Electrical & Musical--45% 1011⁄2d. English Electric: Co-400, General Electrio-34s9d.
Bell Telephone
Beneficial Finance
Also, Pub - AZTÁL
815.08 Gen, Tyre & Rubber
135.24 Terty "..
93. Gidden Co
204.06 Goodrich (B. F.) Co.
84.67 Goodyear Tyre
144.05 || Getermekei Alesents.
GUCE
farfod Chgan Heyden Newport Corp. Hiram Walker $383% Homestake Mining Ca
Zdano--Power
50% Imperia Où 5416dEmperial Tobacco 301-Rand
21%
Drand Steal - Co.
216 | Interchemical Corp. 1991 | Int'l Business Machines
International Paper
178) | Suhna-Malvike. Do.
Kalea C. Power & Light
cott Copper Kimberly Charge!
Made Myens Tob. Co.
Pftiori Bad
Loekkoeti | Aircraft Loeva org.
Lionel Sel Carment Co.
30% McDermott J. Bay
McDonnel Aircraft
13:
Mht Iron Corp. Kinésoti Mining SPA Mon Development
AUSTRALIA WANTS MORE TRADE WITH
הקו ריג
MALAYA
Faith
From GORDON HUNG
Singapore, Aug. 9. The Australian Government seeking a bigger
is
11.
Monicote Chemical | Cu.
Mentorhery Ward Motoroler Loc
National Blooult Co. National Cash Reg. "A" National Dairy Prod. National Lead Nettoom Steel Corp. New York Central Norandar Minien Istc. svärtoma der Western By. North Amer. Aviationi Northwest Alter" (Com)
Ole Mathies Otá levéke Orari ulikkola Claas
Paŝită Gas & Elec. Pan American Airways Freseronjt+Picare. Parke Davis Co. Pehr. Barried. Pitney Bowen ... Procter & Gamble Co. Pittsburgh Plate Glasa Publisker Tdustries „Pune Of vivikytas Be Corporation Radio Corp Pref.
theon's...
Reynolds Metal
Malayan market in line publie Steel with plans to expand aholis Debaceo Australia's export earn-o), Bank of Canada
Hayal Duyg ings by over M81,700 Sears, isbeck & Co. million in the next five away Stores
Shell Oil Co.
years.
Baina: Rag-Paper Schenley The, Spearheading the drive will Best Papers be the arrival, in Malayan Bitsler Corp.
Sinclair on PO Beam Navigation def ord-waters in March next year of a
Kantihi' Kline & French 382 10
floating trade fale, the first of any obu Oll af. Its kind ever to be sent by Aus-Bolar Alterart
Balth Puerto Rico Suger |tralia' to this region. p
The trade fair will be organis-Bouthern Natural das
Southern (Cis,> (The) 19(0. Woolworth 7. W. & Co-60s Tided on board the 8,000-ton Dutch Solher alway Com
skipping t
Indo-China Sterm Nav. Co, def ord-23-64.
23
stores Debenhams, Ltd. Ord-44 d. Great Universal Stores "A"-kős, Marks & Spencer Lig-81s Dd.
Textiles
Cole J&P Ltd--530,
Courtais Lid=840 $190.
ship, Straat Banke. It will have Standard Brands 10920 150 display booths and panels Standard blot Cal.
Standard Oil of Ind showing a very wide range of Burkard Off of 17. Australian products from heavy) BaptRock will Cons Coldreds of South After-dustrial equipment and electing Drug Co.
88 90.
Mines
Cans. Zine Corp. Ord-75g' 01,
De Beers daf-1406.
Hongkong T-100 540.-
Pelaing The Bed
Rand-1 1014.
Southern Kinta Cons Lid-25 0.
West Delmontein Goldmtning-age 1. 15-**
BARE-Van Camp. |trical products to cheese,
The floating fair will call atchaker-Hamkard Singapore and various ports in Banking saini the Federation.
The Acting Australian Trade Tetas Col
extron Ins Commissioner i Singapore, Mr The Water ou TS Nichibls said there had th been a gradual "awareness in meineveka. British Borneo Petroleum Syndi Australia today of the amp Thl-Coat, Warrants
Traders Finance cateod.
AL
Brit Bunnah Petroleum-le .tance of Southeast Asim export Twentieth Century Fox Fam British Petroleum Co., Ltd-501 60. markets. Mr Nichols said he felt Union Carbide Royal Dutch Petro
Shill
d
uter,
this if trendom would gather ion of of
ing 4137s menentum in the years thead Halon Pass Railway
**Fib wild thất to order to boat Ented Tr Australian Overseas, frade, 4 the United gue Canberra Chamber of Commerce Tal had febentlyBet ugy sealexport couneri Borisisting of leading UI representatives of industry and
Exchange rates
the amount of paper work to go Mexico has already sold to US.
commerce. Through will probably discouragsrediners all of its alloted non-
Pthis council which quota
amiting to
Bukiness was done in the local landnacrtrige? the? doating letkade 284,928 tons, to be deliverma moMSCUL Wang, Inaricet this
August and September. morning at the ZOROWING PROAR
Very often the best thing they can do is week the advice
sources expected atmaing sague (PELET other producdis 'now may de Aurkish istal k për k
offering Prices. LUPI:
Warn