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LONDON CLOSES MIXED
London, Dec, 28. Stocks closed narrowly mixed today in qujot post- holiday trading that proved insufficient to test pricos.
Industrials · Anished arly with steel, cosier.
Gold stols
falled
THE CHINA MAIL THURSDAY, DECEMBER 29, 1960,
Wall Street registers GOLD SHARES MAY
gain Rubber sales will be
small
New York, Dec. 28.
Stocks settled for a small net gain today
as profit-taking checked a morning up- swing.
American Telephone climber, around 1% points to a new ali- irregul-time high. The issue has been responding to its rights offering and dividend boost and a new found "growth" status.
10 en-
inblish any trenal. Diomonds were unchanged.
Rall stocks were the standout RTOUP with performers 08 a galra including more than 2 in Great Northern and around in Southern Rait and Santa Fe. American Natural Gar rose a point in the utilities following slightly news of a stock split rumour.
Gilt-edged securities were depressed by uncertainties Dollar over the 1961 outlook. stocks tended lower.
Oll shares edged lower,
Foreign bonds idled. Rubbers were rm and teas neglected. -UPI.
Closing prices
Heiden Government securulles 2. (*.1 volien ind—4-15/10. Convertion- £39. 3. Savings B5/6 £50-13/16.
Savings 155/70-£7-7/10. Savings 1005/75–291-7:40.
Hanka & Insurance
Barclay Ord-66; d.
Chartered Bank-47, d.
Hongkong Bank---47224.
Lloyds one--202 pr.
Lubard Banking Ord-17 r.
Union Insurance-£7
DI
Burmely Od-375 QU.
Payal Busch--271144.
Steels Engineering
Babcock & Wieux Onza d
Uniti Steel--345.
Vickula Ura-28, 19470.
Industrials
Assoc. Blee, Ind.airies-3
01.
Ass, Portland Cement--70, 14.
Beardian, Marden Grd-ja da. British Motor Qid-15% 192. Coats J, & $7.) Ora
D
Courtaulde Ord—42× 41g0. De La Rue Ord-38, Itsd.
Hubber Ord--213 1004.
Bus Industrien-4 4. Ford Motor Oid-142 fl. General Electric Ord-29 kl. Galakting Op Great Univerzal Ord-20#, Hawker Siddeley Ord-281 100.
"A pre-yaa Marks & Spencer
790.
Betitusion Ord-37 1 Hot-Hoyce 431 10. Standard-Triumph- 16. Unilever On-140 715
Miner
De Beers Def-166% 212d. Petaling in th
Miscellaneous
Boutaker Ord-194 104. Canadian Pacific Ord-14. Hongkong China Gas-10, Indo-China Del. Ord-259.
Nav P. & O. Sienia
Tid.
-Beuter.
Union Carbide lost armung 2 in the chemicals but rose around in sume and Eastman,
General Motors Getty Ou
Clarklyear Tyre
duif Oll ............ Im Business Machines int's Harvester International Nickel ful Tel Tel... Kenneeolt Copper 1tton Ind... Lackherd Aircraft Lonws Incorp. ................ Lone Star Cement Co. Minnesota Ming Mission Development Montgomery Ward National Cash leg.
Notional Lead... New York Central öu. Elevators Dupont Pacine Oss & Elec. amount Pan American Airways
Paramount Pictures .. Kodak scored Pittsburgh Pieta Glass one. Have added around 2 in Radio Corporation the electronics where IBM rosa Republle Steel
Reynolds Metal Reynolds Tobacco Sinclair Ol! ...... Socony Mohli Ol tendent Brands Standard Oil of Cal. Htandard Ol of Ind. Standard O1 of N.J. sterling Drug Co. Stokely-Ven Camp. Studebaker-Packard Corp.
5 and Texas Instruments more Chon a point,
Steel issues were
generally
now on high ground despite that
week's estimated 15 operating rate is the lowest in years. Most stocks about 20 moved in a narrow range,
Today's volume was 3,620,000 shares.
Of a total 1,277 shares traded 570 were higher and 449 lower. volume American exchange
was 1,500,000 shares.
Bonds volumic amounted to $6.530,000,
Dow-Jones loving averages:
30 Industrials
20 rolls
15 utilitica
45 slockn
013.75
131.01
99.38
203.01
84.78
40 bonds.*** Comm, future price index 141.38
Closing prices
Alden Ing. Acy ·
Allied Chemienis Allis Chalmers ....... American Airline American Metal American Smelling Americon Tei & American Tou. Anaconda Copper
Armour Kiela Alan Cosis. Mining Jattimore & Ohio Bethlehem Stock Canadian Pacific R. Chote Mentiat, Bank Chrysler Motors, Consolidated Edison Cuban Ajmer, Sugar Dupont de Nemours Eastern Air Line natman Kodak Ford Motor General Electric General Foods
AWill & Co.
| Texan Co...
Union Carbide
U.S. Fel "" 13**
401%
15
1214
1203%
Cotton market
New York, Dec. 28. Cotton futuros wore an ex- tromely dull affair today with volumo melting to next to nothing.
about the same
New York, Dec. 28. Sales of the rubber industry in 1961 will total about $6,200 million, or about equal to this year's, President George R. Vila of United States Rubber Co. said in a year-end state-
ment,
U.S., Canadian dollars
closer to par
He said tyre sales would be about 127 million of all types, and that domestic consumption of rubber dwuld reach 1.6 mil Hon long tons, an increase of 1.5 per cent over 1000. of this, he soid 72
Wi be per cent synthetic.
will spend U.S. Rubber Co. $53 million in 1901 co restarch and development and expansion and modernisation, Vila said. The company expects to whl 40 tyre stores during the year.
It is engaged in a five-year
of programme
creating 200 tyre stores to supplement its Independent retail out-
New York, Dec. 28. The Canadian dollar fell to
100 11/32 cents on the 5,000
ex-lɛts. New York foreign
market today, chango
Vila expects is company's the closest to por since 1661 sales to about equal the 1952.
$970 million level of this year," Cuiada's new decree ordering Earnings this year were $4.50 an extra 15 per cent tax on the common share after deduct- cents a share for the stress pronts of foreign
In-ing 37
investments, company's Cuban dustries
country.UPI. in the principally, American, obviously caused the Canadian dollar to tumble more than a cent since Thursday. The immediate effect of the tax is expected to be to diminish the demand for Canadian dollars to finance US. investments in the Dominion.
REVERSED
In 1948, a US dollar cost $1.12 But inftalion in the Canadian.
of US, the massive movement American capital into Canada, and hugh Canadian borrowings in New York and Boston, soun reversed this. A demand for created Canadian dollars was that drove the premium on the Dominion dollar as high as cents in 1957. It has been at elining slowly since then.
a two- The premium was for months were
edged sword for Canada. mostly neglected but steadied
enabled her to buy American late in the day on light com- in tho mission house support
goods more cheaply but out Canadian goods at a price dis- absence of offerings,
advantage on the US market. businessman Many Canadian said from time to time that they would prefer the two dollars 12 bo nearer parity--UPI.
#4916 33 243%
23
M
10432
30%
ranged At the close the Hist
Ave fron two points lower to higher after opening two points lower thin to Avo higher
New Orleans futures morning.
five finished unchanged points higher.
to
2011
Meanwhile
221
2
17
100
J12
IX
Liverpool (utures closed un- points changed to 10 English 74% lover. No exports were reported 2013
today.-UPI.
NESCAFE
1t
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
REGAIN THEIR
GLITTER SOON
(doll is the backbone of world commeres. But the gold market has lost its glitter, What is the true picture? Alexander Thomson investigates and prediéts that gold "sharça Bay strike rich).
By Alexander Thomson
London, Dec. 28. Many people say the biggest absurdity in the world is digging up gold from ona hole in the ground only to store it away in another.
Yet gold is a highly important commodity, Nations fuse over their reserves of it like a mother over her young.
Meantime,
pron's
Every time Britain's shows a
working sizeable increase, we feel very lock like being up from £3 pleased with life and mighty million to more than £4 million reassured.
this year.
Yield, £ 45. per cent.
But for all the Importance of gold the shares of the big South African companies are about as forlorn as a tramp on New
Year's eve.
Winkelhaak Rand is probably this group's most promising youngster."
Anti-malarial preparation
in the Eastern Farke, Davis & Company has announced D new anti-malarial preparation, which is claimed to be cffective against all stages of the malarial parašlto in man.
It's just getting into its stride. This year's prefits already top a million and a half poundi sterling. For all last year they were £600,000.
in the A burst of goodwit stock
market always seeing 10 pess them by. They have very fey friends there just now.
This is because political rum- blings at the Cape have dis- Investors confidence. turbed They say that geld shares are too shares now deserve more atten- ristcy and look elsewhere.
THREE REASONS
I believe the time is not very far away when we should recon- sider this view, There Arc three reasons for Baying to:
shores (1) Gold
have im- proved considerably in quality in the last year or two as a result of tertrient developments.
(2) There are signs of lesson- ing tension in South Africa over the question of blacks versus whites. This may become mare apparen! In 1901.
(3) A rise in American price of gold is always a possibility and one which imagine the British government "secretly
favours.
I
it you feel as I do that gold
tion stick to the big new NOTREG.
Given half a chonce they should do well even it gold stays at 535 an ounce.
So in a way they are an each way bet if you are a "betting" mun-Londen Express Service.
World
sugar
Calico Camoprims, the new preparation.combines Camoquin, A one-dose anti-malarial Intro- duced by: Parko-Davis in 1950, with primaquine for use as o | suppressive, a prophylactic and as an agent in eradication pro- grammes.
According to
W. R. Jeeves, | Parke-Davis vico president and director of averseus operations, "Camoprima is effective against all ninges of the disease which is a scrbous, world-wide medical problem with an unmunt death ion of more then two million persons."
Camoquin destroys the tofee- tive malarial agents in the dcs- blood, while primaquine
troys the tissue forms and also the stages of which the discose is transmitted back to the mos- quito.
New York, Dec. 28. World No. 4 sugar futures Elimination of malaria as the today closed "unchanged biggest medical and economic to four points lower on problem in the world today→→→ more than 200 million grow crises sales of 144 contracts.
|scarly-depends upon efther of the mosquitoes Domestic No. 6 futures closed eradication unchanged on sales of 19 con- which carry the parastics
Zestruction of the malaria part- tracts.
siles în maIM
Clinical als of Camoprimar 7,000 patients
4
محملة
Undoubtedly the dominating concern in South African gold- mining is the Anglo-American Business done at the Hong- Corporation, headed by 52-year- kong
Stock Exchange this old Harry Oppenheimer. morning amounted to approxi What are the best gold shares mately $3,129,000. Noon quota-in this $140 million enterprise? tions and the morning's transoc- select these three:
with- Although Brazil was tions:
Weslem
Holdings. in drawn from the world market in more than Orange Free State, It's now pa
today, sales by that country have been carried out in many well-lit, clean, and cool as the yesterday In the neighbourhood of the principal malarial areas
of the world. Piccadilly Circus tube,
of B0,000 tons of
The incidence of infection was This is a high-grade mine with Cnough to bring a moderate reduced from three per cent to a big future. It could provide amount of liquidating pressure zero, the Company said. In com- surprises ns develop to bear on the futures market, parisun, gn untreated group ex- pleasant 10-110 200 210
ments on property proceed and prices consequently eased-perienced an increase in the in- northwards. Towards the Free UPI.
Shares
What
Buyers Sellers
HK
. 1440 1445 Bank
125 1708 (Lon. leg.)
Co.
Sales
111145
inclusive
28.20
9.00 0.00 3000 < 0.85
113 110
Wheelock ILK Dock
23.00 24 600 a 2110 Provident Biol. 41144194 4000 $135 2500 412 70s band.. 73 732 200 78
Yamatonys
**
110
112
IK Tram. 33% 77%
Ch. Light
Electric .... Telephone
New
GI. Cement
200 7415
2000 117
5605 of 75
2400 78
35 u 112
25 711
800332
300 111
1000 or 103) 1500
20.70 20.00 1708
2003
State Geduld boundary, also in Orange Free State is the "jewel box" in the Anglo-American cupboard. In 1981 it should be moving into its richest area. Yield, £0 125, por cent.
BRIGHTEST STAR
Doornfontein on the for West 20.70 Rand is the, unknown quenilly In this take-your-pick game in 2000 20.60 gold.
40 or 20.00 700 un 100 un 25.80 20.00 29.70 4000 in
3000 20.co Ja 381 100 38
500 333
Dairy Farm 3212 223
Watson
3508 304 3500 # 304
3^
13 Allied IV. B. 0.15 | Taxille
Nanyang
CTD
13.80
Amal "Rub. 5.00
.18 1000
20703
T 7.20 Underwriters 11.00
Rub. Truck
Taikes Book
Humphreys. 23.43 23.70 2000 Realty
190 1975 4000 JK G17 10.30 10:39 1500
Sir Charles Hombre, elty banker, is the supremo" in nn- other big goldmining group, Union Corporation,
St Helena Is its brightest star. The completion of now shaft should
lead 10
Interesting development next year...........
Yesterday's Closing
raws were
Joint venture
جولة
eldenco of Infection from proximately four per cent to nearly nine per cent during lie. same period.
Camoprima offer the posɛl- bility of true malaria eradication by man drug therapy,
It is pen-foxie and effective as a single-dloze treatment.
It is available as a tablet for adults or "intatabs" for children. and will be introduced in
markets n 2001 stocks are available,
Chicago, Ill., Dec. 28. A. O. Smilit International S.A., subsidiary of A. O. Smith Car porating Milwaukee, announcen it has entered a joint venture Eastern with Japan's Kobe Steel Works for the production of certain equipment, including that for oll refining.
A now company, Shinko- Smith Co., will be 60 per cent. owned by Kobe Steel and 40 per cent by A. O. Smith Interna itoral-China Mall Special.
Unit trust
First Hongkong Fund BUT Price: $1.07. Soller Price: $1.34.
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK Closing rates:
200 10.30 Canada 500 10.30
400 1526
100 1030
10
England
ometal
30-days
Inc Inv...
10.70 11 1000 er 10.70
DO-days
IK & FE
Australia
Iny,
Cilman
10.30
1000
15.30
New Zealand
21 2523
1000
3.625
3000 17 202
Star
Ferry
107
Maceo Elec 128
INTE. Craw
Vibri
43
29.00
Spot
Judly
LIVERPOOL
American Contrapt
SUGAR
NEW YORK
The
Closing prices, ail in cents per
18.:
Contrast No. 4 (world)
Mar.
Bey
Sept.
OM
Bpat-AS. Cubs).
Closing prices all in panico | July
1.00 11/32
2.0048
2.0025
рет 16:
Die.
21.70
2.7063
Mar.
7.2440
May
22.10
7.1945
July
4.4005
. Qat.
23.84
Dec.
24.025
Mixed Contract,
Total Salon) Túi contracte.
Open interert: 1,Anz confractu,
"Contraal No,"6" (domestlo)
Mar.
Spat=(C.1. NY. AL-QHY)
Total Saibus 19 confracta
6.23
Open Interest: 149, odvtencie-tips.
METALS
NEW YORK
Closing prices all in, canis
per 1b.
Agreed merchant
rates
-Canadian # maximium selling
1745. minimum buying T/T 17-11/10 O/D.
174
Bouth Africa
Others unchanged.
LONDON
Closing rates;
New York
Montreal Amsterdam Copenhagen, Frankfurt Ldation
PARK Blockholm Milan Zurich
1.00 3/16-2000/20
MAY
£17015-2.7994
10.57-193717
11.001-$1.00d!
20.0276-20.024S
80.20-30.30-
11.78-1376 P
174043-1743 12-574-12611
COTTON
RUBBER
NEW YORK
Rex rubber futures
Lead
closing
Маг.
prices, all in eenta per 1b
Lino
Jan.
Mar.
健典写。
Copper
MAY
July
depit.
LONDON
NESCAFE Hong Kong's Favourite Instant Coffee
INSTANT COFFEE
NESCAFÉ
Belgion Francă maximum selling 062.
Wart Garmin Deutschemarks maximum selling 721⁄2.
Exchange rates
• Bunners who do in the prai unordcial axeranga market, as the following ester
Un dollar seniz (913.
Cher.
Australisis poles (per
NEW YORK
Nov. Closing pricar all-in conta ney. 16.
Mari
SINGAPORE
Closing prices all i Straits
cents per lb. fo.. Malayan
party: No. 2: Jan.
No. 5 Jan.
Kioking prices all
Closing prices, all in sterling
per long fou
· Tis, kook-
1,3 month
Buyers Salters
饭
"Copper upit.
Sonth
Lead and hair, Den.
Ganth