Pagë Z
THE CHINA MAIL,
Wall Street closes higher
LONDON in active trading
MARKET DULL
London, Nov, 23. The London stock exchange was dull again today and prices tended downward in light trading.
lalle buying support deve loped among Industrial shares and losses prevalled despite n few Individual firm spuis,
British
New York, Nov. 23,
Schering advanced 1. & Foundry
The stock market,closed American Machine
Blightly higher
in
24, Lition Industries 2% Union Carbide 1, General Dynamica moderately activa trad-14 and Martin Co. 1-AP. ing today.
The market was lower and active at the opening following
late cleclin Tuesday's
arned mixed around noon and then rose gradually to the clase.
Prices were near their for the doy at the close.
Brokers
werd einted Over both The advance and the
for volume
pre-holiday session. The market will be tomorrow for Thanks.
bonds government finished fuicly steady. Gold min-clased ing shares, base metals and oils suffered from the general lack
of investor enthusiasm. AP,
Closing prices
Brill Government Becurities
Consolidated......- £40.
Conv
33 Saving
J', Saving
195/70-78-14,
Saytiga 1985/75C71-0/10.
Tanks & Insurance
Harleyn Ords—671.
Chartered Bank- .
Munakong Bank-087
Lloydy Lanker 31,
Lumbard Banking Orde~18 10/21.
Union Insurance-£8-1/32.
Burmah Ou~38
CHA
Hayal Dutch-11.
Steels Engine 40.
Babcock & Wilcox
United Slol-8% 0. Vickura Ord-276 €al.
Industriala
A. Eler. Indstyle#435 Dd. Are Putland Cements 1 AR Television "A" On--284
12
Closing prices
Abilibi Pur & Paper
Steel Corp
BC Tel Co,
all Telephiune
Comrollddated Paper Consumer Gas Croute Pel
Diamond Alkal Distillers Seagrams Donion Stores
Ferro Corp
Gen. Tel & Elec Georgia Pacific Heyden Newport Human Refrix. Imperial Tobnero Lily Tulip ......
40
THURSDAY, NOVEMBER 24, 1960.
HONGKONG STOCK EXCHANGE
Our Own Correspondent
Business done at the Hong- kong Steck Market at this morni- amounted to up- 31% ng's session
Noon 39 prohnutely $3,710,000. 20% quotations and the morning's Mtransactions:
2/3
1014 Shares
2151
41
121⁄2 Bank
Unich Ins. 126 What Co.. 1.
Waterboat..
40% Wheelnek
27.40
127
9.411 1.GO
100 ur 100
$37
Buyers Bellora 1329 1330
Bales
110
Allied Cheintal
best
Alaertson & Foreign l'uwer" Am. Natural Ga
123
Norands Mines
Molson Brewery
Loulow Groccfertur
De 1024 4041325 230 124
Antslas Corp
Oiln Mathieson
nk of Montreal
55
Penn, Bali Co.
Henk of Nova Scotia
62
Pitney Bowes
42
R.D......
1000 or 0.70
7500
Beech Life Savers
45
RoytheDI
3350 ut
Republic Steel
2000
481
Schelty Ind
K Dock
107 100
100
Brill Amer Ol
271
Southern Par
British Columbin Elec.
32
Sheep Hock
200 107
Cana Bank of Commerce
5419
Stone & Webster
100
108
Canadian Pac. Raliway Corn Glary Works
30%
Trader Finance
Provident..
22.10 23.20
1000 22
000 22.10
174
JIK Matel
242
4224
1000 * 4214
23004219
3540 4232
HK Lind.
an
2100 0415
BJ 320
104 103
100
Fight
B
SK Tratu
-
02-023%
324
Ch. 1.Egl. 14.50 21.00
300 500
giving Day.
Most gains ranged from a few
around one dollar cents to
share.
Chemicals, Yesterday's Closing
Hafls,' Aircrafts, Lülities ond Selected Issues
advanced.
Cars,
Steels and
Petraletims were mixed.
577
Or 1,210 Issues traded, advanced, 394 declined and 248
closed melunged.
There were 17 new 1980 highs against 13 new lws for the [year.
Standard and Poor's 500 stock eight index gained a modest cents L 55.30 dollars.
COMMODITY PRICES
COTTON
METALS
LONDON
Closing prices, all in sterling
יי
A CHAT WITH MEN AT THE TOP ABOUT THE STATE OF BUSINESS
(Big businessmen are often at their most revealing over after lunch coffee. In this despatch Alexander Thomson, one of Britain's leading business commentators, tells what men at the top are saying about the state of things over their business lunches.) By Alexander Thomson
London, Nov. 23.
Business lunches. If they have not already become a bit of a music hall joke, they are not very far from being
one.
The etion: over-fed men are buying the extain bottle of big city investment and finance eating mehly urut dinking ex- Scotch, pensively because "wo are mot paying, cid man."
arc
at 3. Tractors. In soine Arms least the squeeze does not ap- The facts: find they
rear to be affueting output
Earlier this your the Masscy about as differen; from carica- ture ay an industrial "blue-Ferguson head short time at its factory, Production chip is frem a spivvy gold Coventry
there is now being stepped up mining share.
rgain.
"The policles introduced by the paying management are new oft. Executives are delighted with the progress.
At lunches I go to, tycoons" cat sparingly, drink very little and begin to giance impatiently at their watches from 2.15 on- wards.
And they do lak business, current 500 24.00 swapping ideas about
trends and future prospects.
Here for example are some of the pointers from labiv talk at u couple of lunches 1 at- tended last week;
1000 ur 24.70 2000
2000
HK Electric 28.00
1500 20,pu 1300 20
20.24 ז בו!
1000
20
180 28.90 1033 3 1000 or 37 50r 20
625 20.10. 2071 20
4800 01.
ardinas, Marden Orel
British Moter O14-1
44. ch.
The Associated Press average of stocks rose 40 to 215.00.
The Dow Jones 30 industrials were up 137 to 002.47.
3,000,000 Volume share rampared with 3,430,000 skares tradid Tueday.
LIVERPOOL
American Contract
Dec.
22.50
per long tun:
totalled
Mar
23.10
Buyers Sellers
Telephone...3674 Rights
37
20 20 10
Alay
23.15
Tin spot
TH019
PHD2
July
4:30
3-montti
7671
708
Oct.
233,50
Copper
spot
2202
GI. Cement
01
1000 GU
32+0.
23.00
3-month
2272:
Curtis Ord -40 del
Mur
23.95
Lead 2nd half Nov.
1174
237
3500 00
3-month
1000 G0
Mixed Contract
Zine 2nd half Nov.
072% 612%
700 1
3-
17!
Dec.
22.00
-UPI.
1000 42
M.T
23.4D
May
22:175
Dairy Farm 322;
13
2000 327%
100 w
July
24.25
1000
(31
24.20
24.25
314% Watson Allied Inv. 0.70
110
6,90
2000 i 0,70
24.24
2009 is 6.79
-UPI
Textile
9.60
Nanyang
10% 18.00
Amal Rub. 4.
6.70
Rub.
Trust
199.6719-130,727
19.37-19.3741⁄2
11.23-11.73!
ad
Cuale (3, & P. Ons d
De La Run Ort-317
Dunlop Rubber Ord-Zix!
Elec. & Mus, Industriesis 34. Citan foldings) Ort-24 £$
Ord-67x
CAPE delty Oil Finsker
Marks&Spencer "A" D
Hedifusion Ord-3x 3d.
Fall-Royce-47 Bd.
Standard Triininph-836. Unilever Ord-14
40.
Walworth Ord-54 St.
Mines
De Beers Def-1318 10:50. T'etoing Tin-7 Gd.
Miscellaneou
Bowmaker Ord2 1. Indo-China Def. On-2 d 1. O. Steam Nav. Def.-24.
-Reuter
Agreed merchant
rates
Canadian $ Maximus Selling 37-1/10; Minimum Buying 17- 6/16, T/T; 17, O/D
MOST ACTIVE
aetive The 15 prist Ten of stocks lvaneet, the declined and two were unchanged.
Ampex dropper 1 to 23% Un 62,500 shares, making it the most active issue. Second was Standard Oil (New Jersey), nif
at 39%
$1,500 shares. Third was American Motors up at 10% un 45,000 shares. Next came Metro-Goldwyn- at 40%, and Mayer, up 17 General Motors, off. 14 at 41%.
favourites were Among American Viscose, up 24. Rev- Ton, up 2. Brunswick up 1 and Radio Corp., up 1.
1, United Kennecutt
ruse
Aircraft 46, American Telephone 18. Union Carbide 1%, and Goodyear 14.
102. Mor
RUBBER
SINGAPORE
All in Strails cents per lh: No. Les Dec.
Jan. No. 2 F Dre. 3 Russ Dee. No-Fas Dec No. 1 spot unbated
FOREIGN EXCHANGE
LONDON
Closing rates:
New York
Montreal
Amsterdam
Brusela Copenhagen Frankfurt Lisbon Milan Oslu
Paris.... Stockholm Vienna Zurich
2.8112-2.813 2.74-2.75 10.01-10.62! Talkco Dock 671
$10.25-20.35
-1344-837
FA-14
0371-832
02-0214
812-81
8511-83
Rubber crepe blanket No. 1 pale crepe
71-72
881.
UPI
7.00
2509.05
4000 8.00 2000 10 00
1000 45.20 500 5.65 1000 6 5.70 10035.
37.45 1000 / 7,45 800 # 67 1000 # GT
1. Chemicals. The demon'! eurve is still upward, But some insiders wonder whether it will alter out or dip a litle in the common months.
In
Distillers Combine they
They say that in two or three years the Canadian-controllet Massey Ferguson group should be the biggest makers of the agricultural machinery in
world.
America's John Deere Enter- prise is at prezent tops, Monsey end international Harvester nu neck and neck lor eccond place,
The next move by. Massty the Ferguson? Possibly niong say that their sales of chemical lines of further unding Baky in
Europe? been have
running "nicely
4. The cable "wer." After ahead" of last year.
severe price outting Even if the curve flatttens period of
sanity is returning to the cable expect 16 making ndustry, from now Da they
increase"
Callenders show a "satisfactory
British Insulated
name
Top.
Не asked: "Can you the company with the longest non-stop record for increasing profits?"
His ANSWER: "The Gratton Warehouses mail order business. har or slump it Come boom shown n rise in profits every year since 1808," he sold,
con-
The five shillings shares De 61 shillings. This expert fessed that he had just bought some, "For long term they must be worth every penny of it," he declared.
Singapore rubber
Singapore, Nov. 23. a | Overseas advices were en-
and couraging
in the trading year to next Cables-a £100 million concern March 31.
2. Whisky, Sales at home are buoyant. The credit squeeze is helping them in the way that it has simulated clothing business.
prices opened steadier today. After early
Is feeling much happier.
Some of the worst nce with
uying the mar ket ensed alightly on upcountry and trade selling towards noon. The afternoon opened lower some shortcovering or which lower grade interest halted the decline and a slight recovery took prices to 84% a cents for No. 1 R9s, Décember.
UPI.
same slashing was in the simple endi the of the trade--by smaller firms household electric wire, making
BICC
With less money going out on things like mota cars and wishing machines the people
Giliman
-
2.30 2.473
1030735
Finnphreys
25 25,30
100 25.20
17457-1746! 20.04-20.04% 13.7844-13.70
Revity ir: Gas
73.12-73.15 12.1124-12.114
1000
UP).
Lone
41 41 1700.
700 25.10 Underwriters 11.30 11.80 52023.20 Int'l invest 0:00 16.10 1.875 1.00 10000 1.90
15.70 Inv 16.30 15 1920 10.40
163 YE 3500 15.40 Star
Macao Elec. 12.10 1214 15.40
Vibro
£0.10
41 Стан
HK & FE
0000 # 3.40 7000 2.425 00000 2425 6000 or 3.45
ele. Awkward for larger concerns. They look to this side of their business to provide part of the heavy re- search and development expen- diture reeded for their complicated products.
MOTC:
The normal pattern is begin- to emerge again. It is ning
helping to restore profits better levels.
Exchange rates
Benipa wae
dono in
the local unofficial exchange market this "nar at the following rates: us, doller (per #1) Sterling notes (per 21)
Australian notre (per
5.00
to
14.80
Siam ticals (per 100) Singapore (Straits)
Indonesian rupiah (per 100)
1}
12.65
3.30
20.17
1.80
5. Mail Order. Finally this challenge from the head of
BOAC's
new
707 S jet-powered by Rolls-Royce
HONG KONG — TOKYO – HONOLULU — SAN FRANCISCO 3 TIMES WEEKLY With 2 Rights continuing on to New York and London. This new trans-Pacific service offers you a choice of luxury First Class or low-fare Economy Class-either of them gives you the personal attention of BOAC's perfectionist cabin staff - British and Asian personnel whose sole aim is your comfort.
Trans-Pacific-from December 11th on
B・O・A・C
NEW LOW ECONOMY FARES!
The new Economy Class Fares, considerably lower than present Tourist
Class, will apply on trans-Pacific routes from December 1960,
B R I T I
S H
O VE RS EA
DRUMC
See your Travel Agent or Jardine's Airways Department. Telephone 35111|2 (24 hour service)
B・O・A・CL7
ROLLS-RO
07
ORA T