THE CHINA MAIL, THURSDAY, DECEMBER 15, 1960.
WALL STREET CLOSES HONGKONG LONDON
New York, Dec. 14.
Stocks finished in a turmoil of plus and minus signs after backing down from their earlier gains today. Trading was active and again featured ́a late tape at the close,
Warner-Lambert sagged over; 3 points on news that merger talks with Minnesota Mining had been suspendect to await a Justice Department ruling
violations. possible anti-trust Mom other drugs moved ahead."
un
11olding up the Dow-Jones industrial average were gains of around 2% in Owens-Illinois, 13 Union Carbide and 211⁄2 In Alcoa. Eastman Kodak last while Jersey all its early rise dropped in the oils where Barber gained 1 and Univer- sal Olt 14.
. Patureid dropped around. 0] points in the craneras, 1338 over
7 in the electronics, GM in the mators, Duport 19 in the chun calz
and
Geral Tyre
around 4 points to cancel out ni
large part of yesterdays 63% point runup..
Am. Home Prod. Am. Math. &_ F“day. American Metal ... Am. Natural Cla American Smelting Am Sugar, Ref. Amerloan Tal & Tel American. Tab. Ampax Anaconda Copper Armour ********
Baldwin-Lam-2[neri,
Belmore Chin Honk of Montreal Bank of Nova Sendin Beech 1.fe Savors 13. C. T), Co, .
Brittsli Amer. Oll
Britisie Columbia Elec.
Calif. Packing Corp.
bk. of Comm).
Sadian Pacific R
čme 13. 1.) Co. Cat. Tractor .. Celanese Corp.
Today's volume was 3,880,000 se Manhat. Bank
דת
40%
STOCK
IRREGULAR EXCHANGE
Eltrom
Standard O of Cal.
Standard Oil of Ind
Steep Rock.....
Studebaker-Packard Cors.
Thickol Chen,
West Va. Pulp & Paper *
Winn-Dixle Stores
30
100%
3100
1012
-UPG
STOCKS GAIN
London, Dec. 14.
Business done at the Hong-|Stocks registered gains for
korg Stock
morning
Noon
this. Exchange amounted to proximately $2,000,000. quotations and the morning's Aransactions:
Yaunini)
HK Tram.
Ch. Light
X.D.
20.20 28.40
100 200
10XM 20.40
11000 20.40
500
20.40
the third consocutive sOS- sion today as loading in- industrials were bought November
on improved trado figures,
Scores found fresh support and steels displayed strength bolstered by record output Blue-chips also were
forccosia.
Leading olis moved
Upside
but gains were trimmed by the close.
Gold stocks idled with some
UK's north-east yards launched 73 ships
London, Dec. 14.
tenders losing fractions, coppers Seventy-three ships totalling 618,203 tons
improved but failed to hold their best gatest.
Brined
Gill-edged securities dollár stocks, rubbers and teas also finished firm.-UTI,
Closing prices
Walker
Homiestake Mining, Co.
1443
Furman Retrip
idalla PowOT
5174
Stone & Webster
Imperial O
377k
100%
Inland Steel Co,
In
Bunehinning
Interchemical Corp. ANLAT
40
Swift & Co.
Jati Business Machine
50312
Texas Co.
781
lat Harvester
4212
Textron Inc.
бе
International Nickel
50%
25
International Paper
DING
Tide Water Oll
BUT & Tel
4516
Time Inc. ...................
Johns Manville Cu,
Traders Finance
#hares
Kaiser Industries
M
Tri-Cont. Warrante
Kondrott Copper
2412
Twentieth Century Fox Film
40
Kimberly Clark
10%
Union Carbide
12132
Buyers Sellers
Iti Bank. 1420 1420
Sales
30-1420 1420
B%
get & Myers Tob. Ca.
pl
Union Clot Cali
1 ve 1410
By Tulej...
D
Union Pacifle Tallway
27
Lonnel Ina.
43
37156
Lockheed Aircraft
27
United Alteraft
Union ina
12
04%
Loewe incoru...
20%
United Fruit
10
Wharf Co..
270
100 or 208
in demand.
742
Lone Star Cement Co.
43
US. Gypsum
104
Wheelock.
30
9.40
500 or 9.33
1000 or 1.35
4319
Lorillard P
573
U.S. Line Co
Lell Twephone
Lowenstein & Sons
15%
U.S. Rubber
44
IIK Dock
113 114
100 e 114
Beneflctal Finance
52%
NoDonnell Airerats
U.S. Smelting
20
100 or 11
Bendix Aviation Corp.
Mesutil Iron Corp
US Steel
Provident
Benguet Cons
1
Mohmme Chemical Cv.
449
U.S. Bleel 7 P.C. PF
Boeing Aleplane
A7EL
Motorola Inc.
7:14
Wamer BIO,
434
Borden (The Ch.
National Biscuit Co.
73
Waukesha Motora
32
HK Hotel.
Burroughs Add Machine
National Cash Rex. "A"
CO
Weninghouse Air Brake
23
23.30 23.00 2500 24.21J0 1800 2314
380 23 41% 414 3000 14 415 500 419
|
EMP
Nalonul Dairy Prod.
041%
Westinghouse Electric
BET
HK Lant
72
73 4500 # 73
40
National Lead
AG
210 23
Natonal Steel Coņi,
R}
GF 113
New York Central
15%
Woolworth (K. W.)
Bonus)
250 IDG
Noranda Mines Ltd.
201
Zegna Radto
游 33!4
Norfolk & Western By.
0354
Nori Amer. Aviation
31%
Northwest Airlines (Com)
1044
► 2014
Financial Corp.
14.
Oklahoma Nal. Cay
31
th
Olin Mathieson
Din Mevator
$13
Chrysler Mature Cluett Posbody
4012
6412
Owen Dinos Glass
Oxford Paper Co.
total 1,234 thares
Colombiaų Cortion Co. in Congrcial Credit
Pacide Gas & Elec.
177
Pan American Airways
Paramount Pictures
с
Parke Davis Co.
1412
Penny, Co,
Penn. Smit C
Philip Morris
20
Pitney Bowes
cuban Amer. Sugar
Delaware & Hudson Co.
Portinn Gen. Bre.
Diamond Alkali
Str
Publicker Industries
Pullman
DisBlers-Seagramın
314
Dominion Störr
Pure Oil***
612.68
Douglas Aircraft
Radio Corporation.
127,10
Dow Chemie
741%
Raytheon
3000 14
Dupont de Neinoties
Repubile Steel
THEM
1000 14
97,49
Eastman Kodak
203.94
Pane Natural Gas
302%
11yal Bank of Canada
Reynaldu Tubaecu
Royal Dutch
84.31
Family Finance Kiep.
Henlly
L
Ferro Cury.
33
Neem MLK.
14150
First Nat. City Bank
Shell Ol Co.
70 21 500 7016 700 7015 190 1.025 10000 si 195
150 61.55 62000 1.925
George Pacific
Safeway Stores
374
General Dynainles
Saint Reg. Paper
34
General Electric
Schenley Tue.
22
General Foods
Scat Paper
na
Siegler Carp.
Prices failed to show much response to nows that Brazil continued selling raws in the world market at 2.65 cents a
HK Gas
1500
10 3000
30
500 13,00 300 15
Int'l Inv.
-
Sinclair Out
35
zo;
Suity, Kline & French
Allied Chemicals
83
Cen. Tyre & Rubber
Socony Mobil OB ..........
Allied Milia inc.
54
Gandefch (P. F. CO.
51
South Puerto Rico Sugar
AUD Chulnera
24
Goodyear Tyre
360
Southern Co. (They'
404
Ain. Brake Shoe
Great, Northern Railway
Southern Natural Gas
Am. Cable & Radio Corp.
4
Gruminan Aircraft
| Southern Pacifle Co.
25.20
Americas Cyanamid Co.
435
Gut oll
Am. & Forgn. Power
A
Hemmend Organ
རྟགས
Sperry Rond
An. Gas & Electric
$795 | iteyden Newport Corp.
232
hus now sold 200,000 tons of Is
Star world market quota for 1981.-MacAD UPI.
Vibro
180
Elec 12.40 13
23.70
shares.
#
or traded, 484 wear higher and 525 lower,
Coming Glass Worka Consolidated Edilson
•Consolidated Paper
American xelinge volume Consumers Gas
wa 1,200,000 shares,
Borde volume amounted to $7,280,000,
nows-Jones elating average:
Continental Can
Continental Oil of Del. Creole Pet
34 dustrial
20 roils
15 utilities
65 siteks..
40 bands
Comm. future price index
Abiti
Closing prices
Per. M Paper
Algoma Steel Corp.
General Mutor
Gen. Pub, Utl
Gen. Tel & Fire-
40
-14Nd Procter & Gamble Cu.
P.O
ORIENT
LINES
EMBARKATION NOTICE
R.M.S. "CORFU"
·EMBARKATION: The ship will be berthed at No. 1
SAILS:
BAGGAGE:
Pier, Kowloon Wharf. Passengers should embark between 2.30 p.m. and 4 p.m. on Friday 16th December,
1960.
Sugar
market
Now York, Dec. 14. World No. 4 sugar futures today closed two points higher to one towar on sales of 43 contracts.
Electrio
Telephone 0.1, Cement Dairy Farm
Waleon
Albed loov. Textile. Nanyang
XD
Domestic No. 6 sugar futures Taskno Dock 225 once again finished unchanged
with no sales reported.
Inv. Gliman
1500 26-30
1000 At A
1500 k 62
$200 or 32+
22 320
1300
50032{5
1000 320
100
324
37
30
0.33
B.14 0.20 7750 0.30
14 14.20
660 14.20 2000 14.20 3334 14.10
10 10.00 8530 d 10.00 2000 44 10.70
+
brittal Covernment Recurities 316. Consolidates-E44-1/18, alka, Conversionn-219-3/16. 23 Savings 1053/09--Cop. 16/18,
Saving 560/13-78-9/10. Saving 1905/75-
3
3
Banke & Insurance
Barclays Ord-G 69.
Chartered Bank-475,
Hongkong Bank-C724.
Aloyita Bank—714.
Lestrard Banking Ord—18» 4!«t, Union Insurance-£73.
of
Dangal Oil~~30% DU. Royal Dutch-11-13/16.
Eteris Engineering
Babcock
United Wilcox Ord~32 10d.
Vickers Ord-2, 1011⁄2d.
Industriale
Anoc. Elec. Industries,401 6. Assoc. Portland Cemont-c0% 4!§4. British Brotor Ord-158 1130. Coats (J. & P.) Ord-50% Courtauldia Ord-4tx 60,
cf.
De La Rue Ordenan låd,
Dunlop Rubber Ord-äls 6d. Bloc. &
་
Ford Industries-34 d.
Ord-1439 Bd. Gilman (Holdings) Ord- 10d. Great Univermi" Ord--40% 643. Hawker Siddeley rd 28 4. Marks & Spencer "A" Ort
500 15.2014 don Ord-334 1120.
1 15.40 214 2.55 10030 2 4000 p 2
211 pound, at Cuban ports, for de- & F
ilvery in the first quarter of 14121981.
I is estimated this country Underwriters 111 1180
Humphreys
Southern Hallway (Com)"
Standard Brands
Yesterday's Closing
COMMODITY PRICES
FORDIGN LACHANGI
England officin
Dec,
Star.
Miny
July
NEW ORLEANS
Closing prices all; in cents per ports:
*100-93
Rob-Royce 3d. Standard-Triumph 101şd Unilever Ord-147% 75gt. Wootworth Ord-50 3rd cor.
nilnes De Beers Dets-152 63. Petaling Tin-78 Jet.
Miscellabrous
Bowmaker, Ord-21 zd
Hongkong & China Go-194 Indo-China Def. Ord-2is 9d. P.&O. Steam Nov. Def.-401 06.
-Reuter,
Exchange rates
Unit trust
23.49
- Sept Nov.
20.60 20.00
SINGAPORE
conts
Closing prices all in Strait
{.o.b. per lb.
Maloyan
Busters was done in the
maricel unofficial exchange morning at the following rales: vs. dollar (per 31)
ent
thim
lb.:
No. 1 Jan.
85%-80%
Sterling notes (per £150 Australian notes (per £1)
5.ca
12.0%
29.70
No. 1 Feb.
Instonesian Rupiali (per 100)
3.10
No. 2 Jan.
8514-859
Siam ticals (per 100)
20.10
NEW YORK Closing rates: Comida
May
32.70
No. 3 Jui
031-84
Stagapore (Stralis)
131
33,21
No. 4 Jan.
B1-82
Spot, rubber unnled
EG-DO!
1.0214
Dee
3.40
Blanket crepe
72-73
2.Bans
Mar
30.05
20045
May
27.75
No. 1 pale crepe...
DI.UZ
July
23.05
LONDON
LIVERPOOL
Closing prices all in pence per
Closing prices all in
pence
2.00-11/16-2.80-13/10 3.7415-2.7435 10.5074-105015
:
per ib.:
First Hongkong Fund: Buyer Price: $1.05.
Seller Price: $1.12.
American Contract
NO, 1 Rss spot
25-233
Dee
22.70
Seltlement house term:
130.33-1300
Mar
23.00
Jon/Mar.
232-25%
10.341-19.3
May
23,30
App/June
11.707-31.7L
July
73.30
00.20-60.30
Oct,
July/Rent.
20,017-0.02!
Dec.
$4.00
Nov/Dec.
25-1-25-4
Paris
10.3719-19.7715
Mixed Contract
General markets, elf basis, porta:
Dec.
Stockholm Milan
14511-14.321
23,00
Jan.
37421-274234
23.10
25-232 2511-2 235-2313
*73.00-12.00 12.00-12.00%
23.60
UPI.
24.30
U
30-days Others unchanged.
LONDON Closing rates! New York **** Montreal Amsterdam Brussels
The ship is expected to sail at 6 p.m. on Friday, 16th December, Copenhagen 1960.
Prenichurt
Lashon
0:40
קלVittr
Should be sent to the Hong Kong and Kowloon Wharf Co.'s Godown Zurich (No. 2 Gate), Canton Road by 5 p.m. on 15th December, 1960.
SUBJECT TO CHANGE
Agents:
MACKINNON, MACKENZIE & CO.
OF H.K. LTD., Telephone: 35211/9
COTTON
July
üt
Dec.
RUBBER
NEW YORK Tex rubber futures closing 32.25 nom prices, all in cents per Ib.:
NEW YORK
Closing prices all in cents per
ib.:
Spot
Mar.
May
July
Dei,
32.20
33.20
33.48
Je
Mor. May
July
Commencing Soon...
LUFTHANSA
GERMAN AIRLINES
BOEING 707 INTERCONTINENTALS
direct from
HONGKONG to JAPAN and EUROPE
For Reservations pou your Travel Agent or phono
JEBSEN & CO.
35361
26.40
2051
Estale erepe thin Jan. 2011
thick Jan. 20
AMSTERDAM
Closing Prices all in guilders
jer diagram, c.lf. Jan.
No. 1 rubber
2.43 buyers
No, z rubber
2.43 buyers
No. 3 rubber
and buyerS
No. 1 crepe
2.02 bиyCTE www.ULL
SUGAR
NEW YORK
Closing prices, all in cents per
will have been launched on the north-
Lost 623,500
east coast of England this year by the.
end of the month.
affected
year's tonnage WAS The figures have been
Ly the postponed launching from this month until the Spring of the 41,800 tons Hross (65,000 tons deadweight) Shell supertanker Solen. When
Ship with new anti-fire system
launched the will have had the | William Hamilton and Co. propelling inchinery and
Ltd., of Port Glasgow, bollers already installed.
Scotland, havo racontly launched the Trevalgan, a 6,500 tans gross cargo motorship, with ɑ dead- weight capacity of over 10,000 tons.
The vessel is for
The Solen is being built on the River Тупе by Swan, Hunter and Wigham Richard- son, Ltd. They head the indivi- dual output ist of the North East's three rivers the Tyne,
Ue Hols Wear and Tees - for the sixth successive year by launching Steam:ilp Co. Ltd., and is to Roman 79,880 gross tons of shipping. In be cugined by David
Is the Furness and Co. Lid, of Glasgow, with fed placz
Sulzer diesel engine giving Shipbuilding Company of a
with 4,800 h.p. Haverton-Hill - en - Tees 74,840 tons 18,380 tons up on Last year.
of
The Trevalgan is equipped with a system of Bre protection which comprises an inert gas system for the cargo compart- RIVER TYNE
iñonts and a C.82 full-flooting the engine room, River Tyne launchings this system for year have included the 65,000 Both visual and nudible wam- tons Shell supertanker Serenia ing of an outbreak of fire are provided in the wheelhouse. and the 27,300 tons (pross) Canadian Pacifle liner Empress The vessel is 450 feet long and Canada at Vickers is designed for a service speed Armstrong's (Shipbuilders) Lid.
of 14 knuts.-LPS. noval yard; the 44,000 tons (deadweight) supertanker Kaye- con at Hawthorn, Leslie (Ship- bullders) Lid, yard at Hebburn, and the 19,000 tona. (gross) Portuguese liner Prineipo Per- fello at Swan, Hunter's Neptune yard at Walker-on-Tyne,
The River Wear's launching of 25 ships, tugs and barges with a total gross tonnage of 208,043 tons included. Busiris, the biggest ship built on the river (37,200 tons dead- weight) from Thompson's North Sands yard.
the
Output on the River Tee was seven ships of 121,048 tons
27,000 tons up
New tug with Kort nozzle
A diesel tug for the local firm of Steel and Bennie the Ltd., tugmastors on river Clydo, has been launched by Goorgo Brown and Co. (Marino) ny · Ltd., of Greenock.
Named the Brigadier, sha
will have a pult of 131⁄2 tons; kandi
a speed of 12 knots, Hor engine is of the Crossley
1850. Five type of just over 1,000 b.h.p. the has n Kort nozzic rudder for improved steering,
ships were also launched #1 Blyth, on the North East coast,
and
and four at West Hartlepool. especially when going astern.
LPS,
LPS
Shell Oil's venture
into chemicals
bounds
ahead
(Once again top business eommentator Alexander Thomion takes you behind the
scenes of international big business.)
By Alexander Thomson
London, Dec. 14.
Bill Mitchell poured out coffee and gave me a progress report today on adventuring by the Shell Oil group into the exciting world of chemicals.
ib.:
Contract No. 4 (world)
Зол
3.30
Mar.
1.11
May
2.13
"Our sales of chemicals this year are likely to exceed £203
July
21.00
million for the first time," he
Sept.
3,07
3.01
Spot-FAS. Cuba)
Nov
Total Bales: 43 contracts.
Open Interest: 1,499 contracts
Contract No. 8 (domesito)
Jen,
0.00
6.90
Mar
Spo(Cf. NY. ex-duty) 5.05 Total Sales: none,
Open interest: 140 contract.
| MLTALS
NEW YORK
once
would at He la a big enough'optimist to expansion we believe that there is a sporting show a very respectable return chance of the same progress on our money." sold with a proad and confident | being shown next year too. smile.
Mitchell, tall and friendly in "Chemical, King" of Shell, and ht Royal Dutch partnership petrol and oil,
Ile is 52, liver at Rochampion and is head of the Shell Inter- national Chemical Company.
This is the centre-piece of a new world-wide business which the group has been creating in recent years using oli ns n raw material.
And thereafter? "That would be looking a little too far abcad," he said cautiously.
Between them, Shelf and Royal Dutch have Jaunched boldly into chemicals than any of the other giants in oll.
Lore
I gather, thot group's total Investment in this new direction now amounts to roughly 2200 million.
And nearly half of the £22
· Bill Mitchell rattled off a few million it spends each year an facts and figures to demonstrate | research it devotes to chemicals.
the way the entreprise has been
Closing prices all in cents per bounding ahead. 1b.
Lead Dec.
Jitů.
Z:00 Dec. Jan.
Cooper Dec.
LONDON
--
0,70 10.70
10.00
"Since 1050," he told me, "our gross sales have been rising at a rate of 20 per cent each year.
2770
་
"That compares with an avor- 080 growth rate of 5.5 per cent for the chemical Industry as a Closing prices, oli in sterling Whole and 0.4 per cent for the
industry in general."- OPTIMIST
per long ton:
Tipol
A-month
Серрет кро 5-month
Load Ist half Dec.
Zine ist fest Dec. 3-meniti
תבך
Динутта Делите
207
231
23146 2079
רנס
In the dir nine months of this year, Mitchell reports, the rate of expan penjar in sales of Shell's chemicals, has been Iwly maintained.
With so many millions going into test tube az It wore, what kind of return are these two glants getting on their money?
Mitchell declared: Contri bution of chemicals to group earnings is coming along quite well.
"But of coume it is still small In relation to our total invest- ment. And inevitably that must' be the position while we are ex- panding so fart,
REASSURING
This is reassuring. Shell's ex- pansion in Chemicals based on petroleum has been an act of faith. Now it looks like proving a good stroke of business as well. Already the group sells every- thing from fertilisers to man- made rubber and plastics in: 05 countries.
Its worldwide marketing arrangements, for oft and petrol are
being used to help enterprise along.
леж
A man like Elll Mitchell must get a pretty good bird's eye view. of the chemical industry as a whole, I found him cheerful,
He told me: "Ovord do. mand for chemloats. Is st buoyant. But competition is becoming much 'koener." However, he made this polol. Pre-operational costs in new plants, he said, are probably now lower for any, companies_than they were.
For all their dramație growlit chemicals are altit a drop in the Shell "odeun." But, they are "You co there in always a clearly becoming, percasingly substantial amount of plant Important, either in the courao of building
When you teo · Shell shapes
or about to clact production on, showing eix per cent on a three- which we earn nothing at all. |times covērējā dividend they pro
1 we were to call a halt -to-fauroly quits chreup. -