NEW YORK Wall
COTTON MARKET
New York, Oct. 17. Cotton futures returned to dullness today after
share spurt in turnover lafs 'last month.
At the closee Tut ruled 10
points lower to the hitherto
opening
This "herping "un changed to 10 points lower, New Orleans futures finished a point lower to five points higher. Trading in all positions wap Jack-lustre, despite roperti
that mill buying of spot cotton has improved in the past week, expecially of prompt" Novem- ber, and December shipments,
At a meeting of the British Cotton Board it was suggested that the cotton 'trodé and man made Aber trade associations were merged into group....UPI.
singic
Rubber
market
review
New York, Oct. 17. Rex rubber futures today closed 20 to 45 points lower on sales of 52 con-
Street
Renault to dismiss 3,000 workers, car sales drop
Paris, Oct. 17.
France's nationalised Renault car factories, biggest automobile manufacturers in the country, announced today that they will lay off 3,000 workers because of a drop in car sales.
London
money
market
The company's management stated that Renault, which until ecently had sold 00 percent of its passenger cars on the foreign been the most market, had seriously affected of all French companies by the fall exports.
EXCEPTION
In
car
THE CHINA MAIL,
TUESDAY, OCTOBER 18, 1960.
eases after good start
New York, Oct. 17.
The stock market soared confidently into an overhead resistence level todgy but backed down meekly when the going became rough.
still production
level in
The move was generally ex Lone Star Cement Co. pected by security "nalysts Lowenstein Sons, McDermott $. Rey white vestors were further eponnell Aircraft discouraged by several påor | Mojck t camilles statements andhg keyin Iren Corp. companies and another stand-Mhese hing steel industry this week.
Youngrown fell back well over a point with Repubite ant U.S. Stoel "downi fractions. motors held up steady, to firm prodded lower but chemicals,
Missiol Develupiment the Kansanto Chemical Co.
National Bicult Co. National Dairy Prod. National Lesh an National Steel Corp. New York Censfal”. Noranda Mines Zid. Norfolk & Western Ry. North Amet, Aviation ...... Northwest Airlines (Cora Okinhumme Nat. Cas.. Osin Elevatori Owen-Ilkoolk Glass
Penny J.C. Co.
by a dismal income statens for Dupont sagged miserably. Dupont dropped around' Eastman Kodak 3. Thokol over Oxford Paper Co. 2 and Union Carbide a pojut." Pacific Gas & Elec.
Procter and Gamble dpd AT Pan American Airways and T lost or more, 185, Paramount Pictures Texas thatruments and Litton PRP Marrie The lay-offs et Renault were anywhere from 2 to 4, Amer- 1 Penan Salt Co. considered to be an exception can viscose 2 and Alcoa over 1. Pitney Bowes here. A Finance Ministry report
Mineapolis and St Louis Roll- showed that other auto plants way, which said negotiat needed some 25,000 additionning for "Imphaze industrial workers. Talks were engaged
acquisitions,"" climbed prout between Renault and other Paris, the company was just Brms for the re-employment of the dismissed Renault employers. North Wester
taken over by the Chicago and
MBI stocks appeared Hi
Honolulu
Porter & Gamble Co. Pittsburgh Plate Clas Pulsieker Industries Pullman
Pure Oil..... Radio Corporation Ruho Corp. Pref. Raytheon
Republic Steel Reynolds Tobacco Royal Bank of Cavecla Royal Dutch par
Shell Oil Co,..... Sears, Roebuck & Co.
Safeway Stages
Meanwhile. the Communist- led C. G. T., the Catholic C.F.T.C. decided with and the Socialist Force Ouvriere over a point and America down 11. Corning gins's trade talons protested against around the lay-offs. The unions said that works was a wide mover with
more then, Schenley Inc. gain of the "general policy of the gov
and the Renault Polaroid fell around the same Scott Paper orement
responsible amount was
Landen, Oct. 17. Money remained door in the London market over the week ended October 14. The market had to contend with heavy calling and a lack of adequate supplier of fresh money so that on most days they readily conceded three to eight percent for loons, whilst 5% management“ was paid for money eroated by for the situation.-AFP.
Authorkies" during the course of smoothing out opera- tions which they carried out on a large scale.
tracts. Futures
drifung the continued lower in light trading as manu facturers held the murket and prices, declined
primary centres. Offering from the Far East picked up but were in- nctive, still considering them overpriced. The current month No, it was quoted at 34 centa, In Singapore, the markel lower with buyers opened!
bid. reluctant
Busines was slow to develop
and limited to some shortcovering.
The afternoon session Was very quiet with prices virtually unchanged. Lowers were smalt demand.
to
In
int London, the rubber market was steady but quiet with No. 1 spot quoted at 284 pence.--UPI.
A good deraand for bills was encountered throughout the week with end-Decenbors. January and "hots" sold at 5% and 5-19/32% with some at a split rute between the two. Some bills have been said following the weekly tonder at 5-13/32%,
The Treasury bill rate came out 'sharply lower at £5 Ds 6.35d per cent.
The market's quota was 63% £280 million bills offered as compared with unly 35% of
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Saint Reg. Paper
Siegler Corp. Smels Oil
Smith; King & French Bocny Mobil Cl
Southem Co. (The)
Heinz rose 3 points in the foods, Texas Instruments gave
Ciec- South Puerto Rico Sugar 34 in the up around tronics, International Salt Southern Natural Gas ed around 2, Norwich Phar-| Southern Poole Co. mscal around 2 in a mixed Southern Railway (Com.) drug section, American Viscose Sperry Rand lost close to 1 and Vendo galn-Standard Brand ed around a point.
Today's volume was 2,200,000 shares, of a total 1,211 sues traded, 420 were higher and 540 lower. American exchatge olume was 1.170.000 shares bands
amounted to volume $4,000,000 Dow Jones closing averages.
30 Industrial
by
20 Rails
Business done at the kong
Hong- Stock Exchange this
65 Stocks
£200 million offered to the pre-moming amounted to approxi- vious week-China Mail Special. mately $3,180,000. Noon quota- tran- tions and the morning's sactions:
Daclors in
TELEPHONE COMPANY PUBLIC UTILITY & INDUSTRIAL
SECURITIES
MUTUAL FUNDS
Information and Suggestions
Specialists in
OVER-THE-COUNTER SECURITIES
FREE PORTFOLIO ANALYSIS
For further details and list of current auractive recommendations, write
Morris CaнON & CO.
Blares UK Bark
Buyers Sellere 1300 1310
L'aton
123
127
Wharf
2311
240
Wheelock
Duck
7.30 .7.95
Bales 101200 152 110 @ 1300 201205 201305 50 1100
100 €127 2000 120
200 @ 197 119 120
300 125
230
Govt 238
- 500
UB 108 2000 jot 500197
Provident 02:20 20:40
10:00 22.20 250 22.20
15 utiles
40 Bonds
Comm. fulpre price
index
Closing prices
Abitibi Pwe, & Paper
Alden Inc. Acy,
Algens Steel Corp.
Allled Chemicals
All Milfy Inc.
Q3 of Cal.. Standard Oil of Ird. Standard Oil of N Sleep lock Sterling Drug Co. Stokely Van Camp Studebaker-Packard Curp. Sunshine Miniizz Swift & Co. Textron Inc. Thickel Chem.
Texas Co.
Tide Water Ol Time Inc.
593.34 Tri-Cont. Warranis
127.62 Twentieth Century Fox Film
94.18 Union Carbide
Union Pacific Railway 107.70 United Altcraft
84.43 United Fruti
United Cas Corp. U.3. Poll "8"
143.56 VS. Gypsum
31
Us. Lime Co.
U.S. Iubber
3016
GA
40
0314
LONDON STOCKS DULL
London, Oct. 17.
Continuing labour troubles and the gerlitent jqvčije export-Import Balance combined to give the stock exchange, a gloomy (gok today.
Meading industrials shed fractions, and steel shares werd Specially hard-hit by He threat
lay-offs h leading mills be cause of shrinking demand for the product abrond.
British government bands moved hesitantly ahead early la the Pession, only to suffer 1934 delapio before"the close,
04
a
Gold mming issues were ir-
4214 regular, coppers dull, oils quiet
2203*
641%
343
2114
8016
3472
40
to
1471
45
37
4315
1924
442
404
40%*
0%
1042
and corilerAP.
Closing prices
Britan overrumont béedzīties 2. Consolidateu-& 45-3/LU,
30. Cons
5. Bavings
3 BAVI 120/70-£789%. 37%, Savings. 13060/16–47115.
Bank) KeInsurahes Harclasa Ord-044 33 104 Chartered Bank-528, Fengxong Book-L644. Lloyds Bank-d Union Insuranco-îa Tid.
Burmah 012
det
Royal Dutch—£ 12j4.
d steels Erstheering
Babebek & Wilcox Ord-34a xd.
United Steck-763 40:
Vickers Ord- d.
* Industrial Asoc. Elec. Incistries—439. Assoc. Portland Cement Bus 200. Boardman Merdén Örd-.. *Britlah-Amer. Tob. Ord-SPA 31,
British Setor Ord-159 60 Cunts (J. & IT.) Orel-50 3. Courtaulds Ord-50 40
De La Fuse Ord-08 d. Dunlop Rubber Ord-4 3d xd, Elec. & Mus Industries 131 41. Ford Motor Ords 10 h General Electric Ord-331 Del. Gllanan Holdings: Ord-Er id, Great Universal Ord-530 Hawker Suhteley Dis 10% 4. Imperial Chemical Ord-70s 0. Imperial Tobacco Ord-61 4d Marks & Spencer "A" Ord-vás. Roll Royce Ak
Standard-Triumph-sad.
Unilever On~185# Woolworth Ofɑ—BIs.
Miner
De Beers Def-140% 10. Petaling
44.
Union 1001 100
Bowmaker Ord-289. Canadian Pacific: Orti–JISY. Hongkong & China Gami P.2D Steam Nav. Dets
Reuter.
New York
sugar
New York, Oct. 17. World No. 4 sugar futures closed today unchanged to 13 points higher with sales of 92. contracts. Domestic No. 8 sugay futurs closed two points lower to un- changed on 89 sales.
US, Smelting
U.S. Steel
U.S. Bleet 7P.C. PF
1421
Warner Bros......
48
Waukesha Motors
Westinghouse Air Brake
2211
Westinghouse Electric
3G
West Va. Pulp & Paper
24244
Winn-Dixie Stores
651
Woolworth (K. W)
69
American Airline
1022
Zenith Radio
100%
American Cable & Radio-Corp
UPI
American Cyanamid Co.
Amer. & Fürgn. Power
Ain. Gas & Electric
Fūlures were marrow and quiet throughout the session UPI.
All Claimers
Am. Brake Shoe
Am. Home Prod
Am. Mach. § F'dry. American Metal
Am. Natural G
American Smeling An, Sugar Ref.
30022.30 American Tel Tei
IK Hatel
K Land..
4324
24
+4
44
1900 44
Yaunat!
Tram
C. Light
Electric
:
BGO GF 03 2000 63 100 03
100003 500 14 03 105 JOG TOO LO
100 105
300 or 105
#23232 100 325
23.70
100322 3000 of 3214 100 or 24 1202
24 1000 23.50
211.68 28.80
American Tob
Ainpex..
Anaconda Copper Armour
Balwin-Lima-Ham Baltimore & Ohio Bank of Montreal Bank of Nova Scotia Beech Life Savors
B. C. Tel. Co.
Bell Telsplinte Beneficial Finance
Bendix Aviallon Corp. Benguet Cons.
Belitlenens Meet
Boeing Airstre Borden (7) Co. Burroughs Add Machine 270024 British Amer Dil
500 23.90tish Columbia Pwr. 1000 23.00 Cailt. Packing Corp.
300 20.70 Cana. Bk. of Comm. 2008.30 | Campbell Soup Co. 102 ir 26.79 Canadian Pacifle n. 600 28.70 Doge (3. 1.) Co. 304 Cat. Traci
20%
British goods displayed in glass pavilion
Mascoy, Oct. 17.
A British trade and industrial exhibition next May will be the first to usë a' giant glass and aluminium pavi- lion now being "built in Sokolniki Park here, the Tass has reported.
Tass said the main pavilion → floor space of 8,000 metres (about 20,000,-
600 square feet). A smaller
3519
2112
had
26
NEW YORK 6, N, Y.
Telephone
Telephone
B Cement
Dairy Farm
X.b
1671 37 2504
1200
4 37
Celanese Corp;
241
aquare
20.20
1000
902
37
CIT. Finaclit Cero,
381
Chase Manhat. Bank
a
100 37
2020 Chrysler Motors Cluest Peabody
60
5500 87
581 gallory.
it and connected by a
209
Members: Pacific Court Stock Exchange New York Security Disteri Aim.
19 RECTOR STREET
P.O
50%
Waison Allied Int..
Textile
23.00 อ.วช B.90
LINES
14.50 14.00
Amal, Bubber 30 ....
0.05
jubper T..
8,10
મા
7000 3 8.5
Talkoo, Duck Humphreys Realty
pavilion would be bullt next to
Class
Agreed merchant
rates
Canadian $ maximum selling 17-3/32. minimum buying ∙17-11/32 T/T: 17-13/32 O/D.
Yesterday's Closing
Russia far behind
in
only
air travel.
one jetliner
Washington, Oct. 17.
Russia's failure to develop modern jetliners is costing her a chance to compete for the world air travel market, a top U.S. aviation official said today.
Mr Stuart Tiplon, President of the Air Transport Association (ATA) which represents ·U.S. interview nlrines, said in on
that the Soviets had nothing to match the jetliners' of the free world.
"they "Instend", he added, have concentrated
on slower turboprops which are at a 'Bilge competitive disadvantage with
'pura jela"on the Interna tional routes."
Tho
Mr Tipton returned recently from a trip to Russin'ne 'part of U.S.-Russian exchange visit. Soviet aviation officials came to the United States last summer to American commercial inspect aviation facilities.
Mr Tipton, along with the
M Federal Aviation chief, Elwood R. Quesada, and other US aviation leaders, comprised tho' return delegation that Dew |lo Russia Inst month.
was
Communications
system
A flight deck communica- tions system designed to pormit voice communica tion between a flight dock control centre and flight. deck "crews on "aircraft corriors, has been develop ed by a U.K. firm in con junction with the Admir- alty,
+
Normally, direct voice com- munication on the flight deck is Impossible due to level of bir- craft roise and to the ear pro
Craw by lecters that are worn members.
The new system enables the controller to transmit orders. aver a. broadcast channel at Mr Tipton Raid Russia's only
audio frequencies. The signals delfiner was the comparatively
are fed into a magnette coupling which ancient TU-164 smaller, shorter-ranged and far loop encircling the flight deck more expensive to operate than of the aircraft carrier, Indiyl-
dual crew members carry American Jets,
receiver that pleks up the nudio "We asked them if they had sigrals amplifies and foods anything corning up in the way them to an earphone built in of newer les transports," Mr the ear-protector. Tipton said, and were told, no: Key members of the flight- that they believe the turbo- deck CrAWA DIE able tolaik próba are more efficient"
back to the control centre by of a VHE (very high Mr Tipton said the U.S. dele-means
radio transmitter gation got the defnite Impres- frequency) sion
commercial which is carried clipped to the that Soviet aviation is far behind the West. receiver.
hard." he "They're trying
Fully transistorisert
thq. said, "but they have a long way miniature portable equipment: to 'qu in equipment, phasenger is battery operated and protect- service and all the other factorsed by a wylon cover. Its small that to Inte capable pir rangsize and light weight enables it
to be carried in the user's poc Lariation."
freedom of The ATA chief said much of kót, allowing full the trouble lay in the fact that action. Soviet commerelal aviation was
to Crystal control la used comprised of only one airline provide a pre-set frequency-for Aeroflot-which had no domes the VHF transmiter. The audio
fè competition.
"It isn't really just an airline," output of the receiver is kept Mr Tipton explained. "It's as it constart by automatic gain cor
thus dispensing with we had a setup whereby all our trol, alrthes plus the Federal Avia-porating controls in the port
The fing tion Agency. Civil Aeronautics able cquipment.
equipment is bbard, at research organisations control and everything else remotely roused in a standard Admiralty connected with aviation were cabinet, and is operated from. combined in one giant govern the ship's electrical supply syg
tem--LPS ment agency." "UPI.
centre
COMMODITY PRICES
Mar May
METALS.
July
33.03 02.70 42.50
LIVERPOOL
Closing' prices all in por b
pence
“American Contract
NEW YORK Closing prices, all in cents per
Lead
10.28
Mar, May July
23.55
23.85
13.40
Mixed Contract
Zăpa
Oct.
Dec. Copper Cet.
Mer.
May
July
The sold the architecture was "austere and expressive." lb. Sokolniki park was the site of Last year's United States ex- exhibition hibition. A French
Ik will follow Britain's in August,
LONDON Closing prices, all in sterling per long ton;
Spot
3-month
| Cuban Amar. Sugar
Delaware & Hudson Co.
2133
Diamond Alkan
Bay
|--China "Mail" Special.
4471
283 2826
SUGAR
P
NEW YORK
Closing prices; alt in conge per lb.:
Contract No. 4 (w
Oct,
Mur May
July
-UFI.
ORIENT
R.M.S. "CARTHAGE"
EMBARKATION NOTICE
for United Kingdom yiş Singapore, Penang, Colombo, Bombay, Aden, Buez-Port Sald. EMBARKATION:
SAILS:
Passengers should probark batween 2.30 and 4.00 p.m. on Friday, 21st October, 1960.
The ship is expected to spil at 5.00 p.m. on Friday, 21st October, 1980.
BAGGAGE:
Should he sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 Gate) by 5.00 p.m. on Thursday, 2016 October, 1990,
SUBJECT TO CHANGE
Nanyang
PK Gas
man
1
Macao Eleg. Int'l Dow. LK. & FE
Star
100 37..
50031 31% 312
2300 & 31%
Colombian Carbon Co
Commercial Credit
Comite Glam Works
Censolidated Edison
Consolidated Paper Grammers Gat
480031'optinental Can
500 @ 31 1000
200+ 0.10
3.66– 2000 to 2.50
2000 5.99
1250 © 20
1.70
Continental Oil of Del. Crane Co
| Distillers-Bakarame
Dortodon Stores Douglas Aircraft
1190 14.00 Dow Chemteet
8.16 1000 9.10
2000
300 0.10
2000 i 0.05
84 04 1000 G DI
1000 **
12:00 44 24 190 1925 24030 @ 150
10000 7 1.28
10.30 10:40
16 · 12,220
6.06
Mond jd: 11.90 [Brve, Crew. 411 12 Entertainquent As
220000 g 1325 2000 44 1.023 2000 1000 15.20
1540 ( 19.30
Exchange rates
10.40
Dupont de Nemour
Eastern Air Line
Fastman Kodac
El Paso Natural Gea
Family Fance · Corp.
Ferro Corp., GROU First Nat. City Bank Ford Motor Co. of Cana. Ford Motor Georgia Pacifi General Dynamics General Electric
Food
Ge Mot Der Pub, VEL Gen. Tel; &e Elec, or Gen. Tyre & Rubbe Cletty. Ollaan Goodrich (B. F.) Co. Goodyear Tyre A Grumman Aircraft
Hammond Degan saa Heydan Newport Corp. HTT: Wikerkaa Homerlake Mining Co. Sumerians, Refrig. Idaho, Power
по дла
Inland Steel Do
DET TOIVOn · Machines ar HL Hocalar Aklusp International filckel International Paper John-Monylile Co.
Zhuyzens was done in the focal Raler Industries
exolante markpl, Hae | Xennacoli Copper· mortiing at the following dated)-*|| Kimbwie" Cikrler's
Langit Myers)
Buatrainer rinted (cer, & L Indonenes rupiah) (per 100) .... 590 | 1bble-Groestezian
2014
Textile market
New York, Qct. 17. The cotton textile market
was quiet today.
Buyers
showed no inforest and geré moltajitas a policy
Copper
J-manth
Zing 2nd half Oct.
Jan.
Lead and halt Out,
The wool goods market was 1b., quier Dices "were steady t the South African wool gue
tions.
In synthetic gooda, most of the limited · busctrolym blended: Enbeles You? spot” arid fourth quarter delivery? It was reported that
of
producers
Buyers Seller
700
223
RUBBER
NEW YORK. Rox rubber futures closing 68% prices, all in conts per lb.
Jah...
GO
UPI.
COTTON
NEW YORK
conte per
pot
Nov,
May
July
SINGAPORE
33.00 32.40
31.03
31.20
Closing prices all In Straits
cents per
porte: No.1 Nov. * Deci No. 1 Nov. No. 3"
No. 1
1.0.b. Malaya
spat rubber unhaled
Spot(T.A.S. Cuba) Total Bales: 32. Open Interest: 157 oon (Contract No. 6 (do Nov, JAR
Mar
Spot-CiL Total Bald
30 contracte,
Open interest: 300
* FOREIGN
ENCHANCE
NEW YORK
Closing rates:
Canada
Exigiant official
'H
+
Q-day#
-50% | New Zealand
Other unchanges.
LONDON
184-934 | Austrails
Birniket gripe Sharian
· 97+0836
Noy 1-pale crepe
LONDON Closing prlogs all in pance
per 163 No 1 Flas spot .... NEW ORLEANA AR Cloning pelo ali începts per 9930 Valoha ho17 to 114 | conta de posida | Tugba va
ron Lyre oord calaod prioda
Novextired, yıl | shipsátæktað étel
action by proditiours – waar C: Ital
tributed"" to" sit; and
Cof
2014-2016
'. Closing rates; New York
Montreal
Amsterdamn
Brunei Copenhagen - Fraktur
1,
Delő
Parle
Stockholm,
Vienna
Jutk
10.60