THE CHINA MAIL, THURSDAY, DECEMBER 22, 1960.
MANY EXPECT A U.S. BUSINESS REVIVAL
BY ALEXANDER THOMSON.
London, Dec. 21.
The American stockbroker sipped his scotch on racks and said "I am beginning to feel a little more bullish.”
I nesked him to say that again for the industrial news we have been getting
from the United States has hardly been cheerful,
The number of jobless thora i polleles to be seen in the Amerl- is now more than four million can economy. which represents 0.3 per cent of the working population.
But the stock markets here, everywhere else do As winter closes in, lay-offs there and are Increasing. It is calch that not usually walt for the results, unemployment may be five milThey anticipate them in ad- Hon by the end of next month,
But obligingly my American stockbroker friend brushed all that side. Ile explained:
"I expect to see an uptor in business next April or May.
vince.
✡
An aften as not they are jump or two ahead of events we have seen in the London market this year.
In anticipation of this we may "And as Wall Street is usually good baroneter of economie | occ some of the Investment weather to come, it should start money that has left the United showing more deßnite signs of States tending to Bow back
again. recovery after the New Year."
This coincides with the ylows of some of the Swiss bankers I spoke to in Zurich Inst week.
BUSINESS BOOST
They play their hopes on the boost that Mr Kennedy has promised to pul behind business White after he novos into the House on January 20.
During 1900 it has done very well in Europe. But in Germany the share prices look high after their big rise.
In France they have not shot ahead to some extent but there political uncertainties to take into account.
Arc
Italy, of course, has been a recent big sinner until the severe shake-out in Milan. for the effect of hiz
It will take several months, of
course,
.
e
The market has staged rharp recovery But confidence must have been bruised.
That leaves only New York and London as the big interna- tional possibilities for funds that roam the world looking for
fa Britain
rightly proits. wedded to a credit squeeze until her balance of payments is put right.
In Amerlen they have over. reas payments problemos too. But it is on capital as distinct from trading account.
So offelal palicles in the Unit- ed States are likely to be more favourable to Wall Street. thun Britain's will be to Throgmorian Street.
If I were Jack Kennedy I would certainly go all out for a business revival as soon as I had up my hat in the White hung House holl.
14 is the best way to set about restoring confidence in the dol- lar and get scared money home. -Landon Express Service.
Japan-Soviet Wall
trade pact signed
Moscow, Duc. 21.
A
$1.60 million trado
agreement between Japan
Street shows HONGKONG general rise
Now York, Dec. 21.
and the Soviet Union was Stocks were mostly higher of the close today stimulated by soaring prices for American Telophone and a strong oil
signed today, Toss report-
od.
During 1001, the period covered by the pact, Russia will Increase ili malo to Japon of oil, coal, textiles, raw timber.
potash, materials, machinery.
news agency said. salt and other goods, the Soviet
Japan will sent to the Soviet Union IT.OTO tankers, desel ships, dredgers, rolling stock and other goods including equipment for the chemical and Lood cellulose, paper,
textile industries,
Tass snic trade between the two countries this year was two and one-hait times more than in 1959-UPI.
Unit
trust
First Hongkong Fund: Buyer Price: $1.07. Seller Prlee, $1.14.
group.
which Bank of Montreal
offer- and
Bank of Nova Seolls
Beech Life Savers
1. C. Tel. Co.
Bell Telephone y Ditish Amer. Oll
A.T. and T. (American Telo- Am. Natural Gas groph and Telephone) panounced, a rights
to shareholders ing
1 dividend boost next year, Jumped up nearly 74 plans for points to an all-time high before itish Columbia Elec.
Cana. x. of Comin receding to close up around Carming Gims Work Jersey Standard rose a large 15 Creole Pet..... among the olls most of which amand Alkali added a point or more,
Dominion Store Ferro Corp.
Georgia Pacific
Motors dropped nearly a point (Ford Motor Co. of Cana, in Ford and Chrysler following Great Northern Hallway a Commerce Department report Heyden Newport Corp. that production next year might ilusaman Refria.
Around 14 per cent. Imperial ou drop
La dip Electronics, defence issues andmetal Tobacco Several popular specials
Lorillard P. to make cut down
from gains for
unanimous UPI.
ware
Closing prices
Abitibi Pwc, & Paper Algoma Steel Corp....* Amer. & Forgn, Pawer .....
also the
Noranda Minum Ltd. Fenn. Bait Co. Piney Bowes
Portland Gen. Elec. Tullman Faytheon
Royal Bank of Canada Behepley Inc. ...... Southern Pacific Co.
$ 2014
323
Fleet Co. of Connda State & Webster
B
STATEER SËTRIT DE RÖZS zažēl
LONDON CLOSES
MIXED
London, Dec. 21.
Stocks closed mixed today
STOCK EXCHANGE
by
Our Own Curespondent
Busines dann at the Hong-
kong Stock
Exchange
this
morning amounted to
2p-
proximately
$2.750,000. Neon
qualations and the morning's transactions:
STATIO
Boyars Sellers HR Bank. 1445 1450 1301430
Lombari ini. Whart Co..
Salto
GO 1450 240 1450.
200 210 240 200
Walerboat, 20.10 Wheelock
250 or 206 IGU ZTO
1 9.00 0.70 6000
20004 0.05. 115 116 2000
HK Dock..
Provident 23.00 23.80
HK Hotel
11 Land..
Yasion!!
Hous
on scent pre-holiday trad= {118" Tram "2 335 33%
ing.
Muny
blue-chip
Industrials Ch. Light .... 20 20.00
gave up earlier small gains but plus algns were prominent, in Electric .....
20% secondary Issues
Gold stocks finished selectively higher. Copper shares were lulë,
113
400 133
1200 23.85
200 30
230 ur 23.00
783 23.80
$2000 t
000 or
29.60 20.70
1000
3309
10
00
5324
LUPI
New York buying lent a frin Telephone.. tone to Royal Dutch and Shell
other oil and
3D 30
New 30
¤
01
201
30
!
best jet offer yet...
B-707 JET SERVICE
from
HONG KONG
EUROPE AND JAPAN
Beginning January 25th 1961
#speed-Boeing Jet Intercontinentals with Rolls-Royce engines for top speed and range
☐ elegance - Famous Senator Luxury Service in First Class at no extra cost
☐ thrift-Economy Class, complimentary meals - bar service at modest prices
☐ efficient and dependable cargo service on all Lufthansa Flights
quietly firm.
leaders were GJ. Cement
Patry Form Glit-edged securities ended ensier. Dollar stocks.
closed Wetro mixed-UPI.
Closing prices
Delish Government Securities 319%, Consuikalex=-£44. 35%. Conversion-be! 30, Savings 1000/80---€ 69-10/10.
Savings [900/70-70-9/10,, 37%, Bavings 3969/75-07135,
Darks ar Insurance Barclays Ord—67a_cdr, Chartered Bank-475. Guardian Asturance-117, 3d, Itongkong tank-47214. Lloyds lank-09 Del.
Lombard Banking Ord-17% 4150. Union Insurance—–£71.
Burmah 0-30 30.
Royal Dhitel-1.
Steel Engineering Babcock & Weox Ord-13# 1950, United Steel 70 30. Vickers Ord-28 715,
Industrials
Arsoc. Eleg, Industries 40% 3d.. Asoc. Portland Cement-003 1. Boardman. Marden Ord-460. British Motor Ord-151 34. Coats (P.) Ord-68% Cd. Courtaulda Ord-135 90..
De La Rue Ord--bês 90. Dunlop Rubber ord=219 1U Elco, & Mis industries
Allied Jav. 0.10 830 3000 *,8.10 Textile
8.03
Nanyang
XD .... 13.80
Amal. Rub. $.00 5.65
Rub, Trist 7.00 7
Taikoo Dock
Really Star Po
7017
5500 4090 9.10
10000 £59.05
5000 3.03
14
14 8300
333 / 15.00
332 13.00
2000.6-0.00
5000 8.00
3000 25.05
3100 00
3000 B.CO
LAZS 1,03
izn
10% Cas .. 16.10 1020
12.00 Mação Elec Underwriter 1999 $100 IntTay... 10.80 21 HKC & TE
Inv.
Güman
*...
1350 15,00
2.473 21 Humphreys 23.30 25.00
Cald. Macg. 62
Entertain. 201
30.
Vibro
1031 d
Fort Mctor Ond-142 54. Gilman (Holding) Ord-2 Hawker Siddeley Ord-29 Marks&Spencer."A" Ord-04 30. Redifusion Ord-36, Rolls-Royces 34.
5d.
Standard Triumphs 101d; Unilever Ord1156 68.
Woolworth Ord-65 10d.
Mines
De Besen Bel-155 714d. Petaling in- 0.
Miscellaneou
Bowmaker Ord-20 d, Hongkong & China Cas-15s. Indo-China_Def, Ord-234, 115d. V.&O. Steam Nav. Det-400
Reuter,
Agreed merchant
rates
25.00
700 072
200 de 71
8000 1.025
100 104
310 6.10.20 1100 & 10.70 3000 10.20
500 10
New York
cotton market
New York, Dec. 21. Cotton futures closed 40 cents a bale tower to 15 cents higher today.
Current crop deliveries sag-
Canadian $ Maxknum Selling ged on light hedging and com- 17 5/32; Minimusn Buying mission bouse liquidation, 17 13/32 T/T, 17 15/32 O/D Offerings met scale down trade West German Deutschemarks, and New Orleans buying. Trad- Muximum Selling 725%.
ing was mixed in now crop months.
Exchange rates
Wero Rairly conditions
IC ported over much of the cotton belt but dealers noted that most of the crop has been 16.4 harvested, with rains likely to 320 lower "the grades of the re- 20sidue of the crop sull' in the 1803elds—AP.
-Bilinor was done In the losal uriofficial exchange narket mering at the following rates. V.5, dollar (per (3) Stering notes (per Australian nutre (per 41) Indonsian Rupiah (per 100)..
Blum tical (per 100) Singapore (raits)
21)
20.10
COMMODITY PRICES
FOREIGN EXCHANGE
LONDON
Closing rates; New York Montreal Amsterdam
Rruz Copenha
Frankhir Limbon Cho
Parik
230-2003 2.70-10-270-3/10
10.681--10,503 130,40–130/140"
19.5346-19-3335
19.71-14.744 10,25-09.30
20,01-20.0134
£3.7936-13.70-75
Stockholm Milan
14.20-14.0014
174016-1747:
13.0011-12.09
Spot-15.A.S. Cuba), makan. 335 Total Sales: 30 contractu Open interest: 1,500 contracts
Contract No. § (domestic)
Jan.
0,00 8,05 Mar Spot-(CNX. ex-duty) 6539 Total Baire: none
Open interest: 1to contract pl
COTTON
LIVERPOOL
Closing prices all in pence per 1b.:
Amortecan Contract
May
Judy
2270
Senator
LUFTHANSA
ERM
R LINE S
SUBJECT: 30 GOVERNMENT APPROVAL
JUBAIR 27
JEBSEN
Tel: 35361
For
Zurich
RUBBER
AMSTERDAM-
Closing pelene eil in guilders.
per kilogram, cif. „Jan,
No. 1 rubber
No. 1 rubber
No. a rubber
No. 1 crepe
SUCAR
NEW YORK Closing pricem all in cento Dar
· „Contrpet No. 4 (world)
miked Optract
TALS
NEW TOKI
Closing prices all in cents per
ib.:
બી
9.00
9.40
10.3%
87.00