THE CHINA MAIL,
TUESDAY, JANUARY 31, 1961.
NINTH CONSECUTIVE ADVANCE
Wall Street sets record following Kennedy's speech
Now, York, Jan. 30.
The stock market rose to another all-time high, based on Standard and Poor's 500
stock index, in very heavy trading today. It was the market's ninth consecutive - advance.
pared with 4.510,000 traded on Friday,
!
shares Cana. Ek, of Comm.
The Dow Jone 30 Industrials 10 7.85 1 654.64.
AN of the 15 mot active
higher and The market was netive at the opening. It rallied sharply round noon and con- the close, thed to prove to free were around their best
the day at the Anal bch stock advanced. [1
was necompanied by al which lat, ticker tape.
formed the broad Brokers
the reaction of Wall advance
Kennedy's Sirert to 'resident State of the Unlon message. The stronger order for president's defences sent the aircraft and micile shares soaring.
Gold mining isang devlinoul Marply following Kennusty's pro- toured determination
f the U.S. dollar.
Third
Lockheed was the most active, Lip 3 at 20%, on 122,800 shares.
Second was Sperry Rand, up to 23 on 88,500 stures, was Standard Oit (New Jersey), up 5 al 15x on 79,200 shares.
Next came General Electrie, up 3% at 70 4. and Baldwin Lina-Hemilton, up 14 at 15.
KENNEDY'S ORDER Kennedy's order for strength. deeming the Polaris programme helped Leltheed, the prime enn- tractor for the missile, To top of the most-petive list od
Standard and Poor's 500 plock: indes gained 23 cents to $01 97.
Its last new, lgh was set in Fri-bored Genera Dynamic, day at 01.23 ents.
13
which makes The submarine,
the index, the quoted value of 1 gaj to 44% as sexth most active
stock listed on the New stack. 2016
York stock exchange gained Also live, Ameriesn about $4,500 million. It
Win
79
This indicator's best rise rare January 1 when it was up vents.
I was the broadest market la history with a total of 1701 Issues crossing the tape. The previous record was 1,294 sel
Che last Tuesday. Or
total 134 advanced, 357 elined and 210 changed.
efused
Tele
phone no. 12% to its latest his- tome high of 316',
|
Campbell Soup Co.
Car 13. Là Co,
Chase Manhat. Bank Chuysler Motors Colombian Carbon Co.
Corning Glass Work Consolidated Edison Colidated Paper Dialer Seaproms Dominion Stores Doug Airalt Dupont de Nemours Easton Kodak
| Porto Coro.....
Ford Motor Co. of Cana. General Electric
Generat tetor Gen. Tel. Fre. Goodrich (n. F. Cu. Goodyear Tyn Great Northern Railway Hoseinke Mining Co Imperial Tobscen..... In Hudness Machines Int Harvester international Nickel int) Tel & Tel
Kennica Capper Lockheed Alterati
Lucws Incorp,
Lone Star Cement Co McDonnell Aircraft Montecatial ..... Stontgomery Ward
Westing-National Cash Rex. New York Central Noranda Minea Ltd. Olts Elevators
hrive Electric rebinde: 2. and Being ruse 2.
Bone Mines thread a point and Hinge-tate Fi as the gold shares JB bich.
Business
International
lairs
chines
de
-
There were 129 new 1900-61 highs and only four new lows, Most gains ranged from a tw rents to around $4 a shore.
LEADERS
Ma-
9. Polaroid 3.
Martin, 3. United Aircraft 231, Texaco 3%. Ford Thokol 13),
1. US. Steel 1%. Baltimore
& Obin 14. nod
Philadelphia
Electric 1% following a 2-for-1 stock split proposal.
Chesapeake & Ohio advanced PAP
Closing prices
Steels, motors, utilities, petro-Abtibi Pwr & Paper
ralls, tobacco i Jeus vʊppers, and drusts led the broad d- Allied Chemteads
vance
which
major sectur
included
The Associated Press average of 10 stocks ro 2,40 to 235.00, only below its all-time peak
You
to
set on August 3, 1959.
5,100,000 Volume shares, the largest since Decem- ter 30 when turnover was 5,300,000 shares. It marked the 15th four million share-plus res- sion so far this year. It com-
Algoma Stev) Corju.
1
Allis Chalmers
American Metal
|
Am. Natural Gas Almür
Asbestos Corp, . Baldwin-Lima-Han
Baltimore & Ohio Bank of Montreal Bank of Nova Scotla
Berch Life Savera 3. C. Tel. Co. Bell Telephone
Beneficial Finance Bendix Aviolan Corp. Boeing Alplano....
15%
00
Pacific Gas & Blee.
in Aberen Anmel of Canada
Royal
Rheem Mfg. ...... Sears, Roebuck & Co. Southern Co. (The)
Sperry Band
Steel Co.
ef Canada
United Gas Cort
Westinghouse Elretre
Western Union Tel, Co Wentworth (R. W
SUGAR
70%
7311 16
355424
UPI.
MARKET
New York, Jan. 30. World No. 8 sugar futures today closed 1 to 3 points higher with sales of 38 contracts.
Domestic No 6 sugar closed
no sales unchanged with ported.
re-
Trading in the world contract was scattered ond without par- ticular feature.-UPI.
THE UNION
OF
SOUTH AFRICA
FROM
SOUTH ABRICA
C.M. 31-1-81
Trademark law drafted
New York, Jan. 30.
HONGKONG Record exports LONDON
reduce Canada's STOCKS
trade deficit
kong
STOCK EXCHANGE
Our Own Correspondent
Ottawa, Jan. 30. Business done at the Hong Record exports helped cut Canada's commodity trade deficit to $100,500,000 in 1960, its lowest level in six years, the Bureau of Statistics re- ported today.
this Stock Exchange inorning amounted to approxi- mately $7,000,000. Noon quota- tions and the morning's transac- tions:
Sales Abates
Duyar Heliers HK Dank.. 2025 1830 10 17:3
30 & 1000 70 G 2010 201819
10 1023
1820
50
1020
100
1025
30 153)
301825
31K Bank
Lon, 1540
k Asla”
200
Lambard
43
Wharf Cn.
284
200
100 20
Talkou Duck
74
75
200 to 14%
800 14
1 Gas
18 10.10
The International Chamber Wheelock
Q
of Commerce announced today it hos drafted trademark law for econo- underdeveloped mically nations, designed to pre- vent infringement imitation of trademarks and unfair competition.
and
The body said it is urging all countries which are not yet, a party to the International Con- vention for the Protection of Industrini Properly to "adhere to it al the earliest possible
Ume."
COPIES SENT
"The model low," the Cham- ber said, "redeels the stipula- tions of the convention an last revised in 1958 and also indi- views of cates the unanimous the interstional business world on points which are specifically covered by the convention."
In addition to the 40 nations the convention, belonging to coples of the model law are he
witn Ing sent to all countries particular attention to the 15 African newly independent nations which are in the process of adopting new legislation hi
soid- the field, the Chamber UPI.
EXPORTS TO THE VALUE OF £700,000,000 U.S. $2,000,000,000 ́M $6,000,000,000 H.K. $11,000,000,000
YEARLY!
And Is An Excellent Supplier Of Your Requirements including ---
METAL INDUSTRIES
Steel, Iron & Pig tron Mining Machinery
Rock Drille & Tipped Tools Agricultural Machinery &
Implements Industrial Machinery &
Sporos
Motor Spares & Accesories Pipes, Tubing & Fittings Taps, Cocks & Valves Cast Iron Pipes & Covers Bronze, Hearing Natals &
Seldors
Bollars & Condensers Wire & Wire Ropes Bolts, Nets & Fasteners ELECTRICAL INDUSTRIES Batteries
Footwear of all Kinds Blankets & Rugs
Worsteds
Wool, Raw, Scoured & Tops
K. & S. Ifotel
1000 74%
100741
16
The deficit-surplus of im- hercased by 15.1 per cent to ports over exports compared | $277,000,000. with onc of $300,000,000 in The sharpest reversul ce- 1259.
eurred in the "all other nations" Exports, boosted particularly bracket where u deleit of $83,- 10 Britain, other Common-000.000
in 1950 breaurea wealth nations, the European favourable balance of $168,000,- Common Market and Japan.
rose by some five per cent over 000 Just year. Exports were up 1930 to an
all-time peak of 23.9 per cent at $1,100,000,000, white Imports tell from $072,- $5.395,300,000. Imports, on the other hand, declined fractional-000,000 In 1950 to $932,000,000.
--UPI. ly to $5,185,800,000,
e500 other
500 ..
4000 18
1000 18.10 10 10
11.90 12.1 21000 15
3000.0
11000 1169
32000 11.00
€15 11.BA 3000 of 11.90 19000 à 12
2000 12.10 0000 1 12.10
The overall picture showed Canadian sales down slightly to the United States, but up to all major markets. Pur- chases also were down from the United States, but up from Britain and the rest of the Commonwealth,
MAJOR TRADER
Despite the decline on both sides of the ledger, the United States remained by far Canndo's major trading partner, account- Ing for 58.3 per cent of Canada's total exports and 07.3 per cent 023 23.20 of Its Imports.
21.30
to Britain
075 + 12 7000 13.10
Canadian exports
2000 27.40, Jumped 18.4 per cent to $924,-
imports 900,000, while
from that country Tose slightly to 3538,800,000.
11K Dock Ch. Prov.
125 120
5000 12 1100
125
274 27.00
2000
1000
443%
43
1004274
30043
C$
50083
321 44031)
B00 54
Yaumati
134
140
72 124
100 133
300-115
HK Land
Ex. 14.
יגם,
(New)
127 120
200' 130 325 or 124 23 of 120 200 127
50
600 A 130 31% 34% 1500 34
1700 e 3412 500 + 341 200 v 20.90
Tra
C. Light
9.30 28.40
12500 20.ID 20000 20.10
400 * 29
5000
29.10
2800 20
500 G 28.50 500 20
As a result, Canada
was left with an export surplus of 5330,100,000 compared
1950's $205,700,000,
Canada
favourable
also
U.S. steel output
for February
Clovelond, Ohio, Jan. 30. Steel production in February will be close to the 6.5 million ingot tons proTM duced in January, Steel Magazino predicted to- day.
However.
The Metalworking weekly said there was not much likelihood that February will be better than January because or- no over-ail ders are showing
in and,
some improvement cases, are running a little behind last month. with
cald they The stecimakers expected an increase in order- ing
for quick deliveries in February. Some have been gel- inting 40 to 50 per cent of a month's business after the first of the month.
Weekly
opera- tions apparently
the
enjoyed balance with rest of the Commonwealth, 1- cording an export surplus 1080 of $55,700,000 versus $38,- 600,000 in the previous Exports jumped 20.8 per ent to $333,300,000, while imports
་་
12.30 121 1900 @ 12.30 500 22.30 Rubber 0.00 0.95 2000 of 6.00
Nanyang
A.
R. Trist..
14000 1.0
9000 6.25
1000
4.00 7.00 7.70 34000 5.00)
2007
5000 S 6000 7.70
Humphreys 3128 0600 1020
1.923
15000 # 1.95
2000 or 1.03 10000 & 1.9M
10000 1,0
234
6000 + 1.93
1000 m 20 6600 7 20.10
200 g 22.30 200 20.10 1000 # 23.10
2500 0 29.2I 800 02530
2000 # 29.30
0100 0 29.40 1000 6 29.30
Electric
301 302
600 304
Star Ferry
30 Int'l Invest. 12.80 1320
2200
300
1000
20300 L 12.70
732
Telephone
433; 44
ILK. & FE.
1300
+4215
Inv.
2000 c 421
www.
1000
1000
100
Gimon
243
H
stecimaking
have reached A plateau of about 1.5 million The magazine estimated this week's output will be abort the same as the weekend ended was up January 28, which slightly from the previous week's production of 1,499,000
tons.
Production cutbacks In the car industry were blamed for of steel production to future make moderate gains. Other consumers of sheets and bars were reported stepping up pur- chaves and demand for such pro- ducts as in plate all country goods and line pipe is drming
1000 * 12.00 up.-UPI.
1000 or 12.BO
10.70 16.80 1000 a 35.60 3.15 3.20 2000 3.10
7000 e 3.13 2007 ( 3.20 200031 11000 (4 3.20
5000 43.229 2000 +3.20
Exchange rates
In the Toral
exchange market this
FIRM
London, Jan. 30. Stocks closed firm and most- ly quiet today, although a rush of buyers orders swopt Over Imperial Chemical Industries 다 investors clamoured to get into the company's new $98 million issue. Textiles showed mostly signs, stores and breweries re- gained their footing, but steels surrendered early gains. Many blue-chips edged ahead. Rubber were in favour but tens were Gulet.
plus
tip the Cape buying firmed golds, with Lorraine aud Do-
the minion Reefs
standout Isities.
Tiny Armed but coppers drifted. Oils vaulted ahead. paced by British Petroleum, up more than 2 shillings.
General Motors and Bethle- hem Steel with gals of 2 and 2 highlighted a firm ist of dollar stocka, Red Chinese and Greek bonds were higher among foreign lens. Giltedged securi- tea steadied.--UPI.
Closing prices
British Government Securities 2. Commukiitated-£4336.
Conversion-257-13/15.
35. Funding 1962/04-CH-3/18, 2. Baving 1065/65-90-17/32. 3, Savings 1000/10-TI1⁄2. 3. Savings 1985/75-£72-3/28, Jim War Lean-C
Overseas
-Bonds
German (Dawn)-DOG. Japanese, Amented—£1894.
& Insurances
Barclays Ord-elly Id. Chartered Bank-Ble 3d.cor. Guardian Aurance-1229 3. Hongkong Bank Lloyds Danic-724.
cor.
Lombard Banking Ord-18.
ofla
Drita Petroletima 3d. Burmah Old}#
Shell Transport Ord-1431 34. Royal Dutch 1345.
Ultramar Company
3.
"Steula & Engineering Habcock & Winx Ord—ils 34. Harland & Walt Drie 10d. United Steel-509 30. Vickers Ord-28
d. Biscuic Aston, Elec. Industries!] ( Elec. & Mus. Industrieo 13 dd, English Electric Ort32 Od. General Electric Ord-31s 10.
Industrials Asie. Portland Cement-728 4:50. Dunlop Rubber Ord 210 100, Turner & Newall Ord-19 731d. Unliever Ort-150 1150. International Computers-14% 31.
Marden Ord-3 3. Boardmoldingul-201
Carreras "1" Ord-45 412D Fine Spinnera Orth-31s. Gilman (Holdings) Ord-37!§. Cars On-18 3.
Standard-Triumph--10, BÌ,
Teape Ord-538
Jason Ord-39 101.
Hu Bay-&-11/32.
Westland Aircraft-100 114,
Chemicals
Ms.
Monsanto Chemiesta Ord-24, 115d. Imperial Chemical Ord-70s 70,
Гарег Bowter Paper Dist--55 3d. De La Rue Ord―30.
Tobaccos British-Amer, TU. On-03s nd. Imperial Tobacco Ord-70s.
Mators
Business was done unomelai
morning at the following rates
US, dollar per 31)
5.12
Sterling rates (per £1).
15.35
2000 3.20
Australian notes (per 41 Indonesian Rupiah (per 100).
12.70
My
2.80
2000 10 3 200
Stam ficals (per 100)
20.30)
Singapore (Stralis)
(New) 42 Cement
60 6019 Dairy Farm 3419 3434
500 43
1200 4314 2700431⁄2
100 43
1775 60 41 1500 6315 1000 60 344 1300. 3422 34262434 1300 (24) 3000 3415
Underwriters 32,10 Peak Tranı
Fully Paid 打你 Poak Tram
Party Paid
44
Lane, Craw. 4315 45%% Construction 1015
0000 € 3.50 16000 6 3.173 1000 € 3.20
Watson Allied Tit Textile
1000
+7
ร
1000 4 75
Yesterday's Closing
COMMODITY
ECOTTON
NEW YORK
No. 1 Feb.
Mar.
No.2 Feb.
No. Frb. No. 4 Feb.
Spot rubber unbaled
Blanket crepe
No. 1 pale crepe
LONDON
B2%-5J!%
Closing prices all in pence per
General markets, elf, bands, poror:
Closing prices all in cents
per lb.:
Spot
39.25
ib:
Mar.
May
29,70
Jus
3320
No. 1 as spotka Seillamment house term Apt./June
2134-2392
2321-231
PACKAGING
Onl
33,70
July/Sept..
336-21
INDUSTRY
Des
33.18
Nov./Dec.
231-24
Mar
3420
Jan./Feb.
24-241
·Paper Bags & Paper Socks Cartons
May
HAT
July
24.03
Feb.
CLOTHING & TEXTILES
Maulded Containers Egg Trays
NEW ORLEANS Closing prices all in
May.
}%-20% 271-7314
cents
Estade crepe thin Feb.
per ib.:
tick. Feb. 23 AMSTERDAM
Spot
20.65
Mar.
3220
MAS
Steady Made Clothing Fashion Woor
AND MANY OTHERS!
MANY
July
33.00
No. 1 rubber
Oct.
54.70
No. 2 rubber
33.00
No. 3 rubber
No. 1 crepe
Motors, Generators &
Switchgear Cable & Condolt Transformers & Insulators
CUT OUT THIS COUPON AND SENG TO 1***
The Senior Trade Commissioner: for the Union of South Africa in East Asta.
Lit Rear, KPM Buliding, Robinsan Road, Singapore.
Please send me the names and addresses
of South African. Expecters often.
The name and address of my firm is as follows.
--- ADDRESS = _.
NAME
Dec.
Mar
MAY
July
LIVERPOOL
Closing prices all in pence
per lb.:
American Contract
Closing prices all in guilders
per kilogram, est, February:
2108 buyeru
2.29 bayern
2.44 T.
UPI.
METALS
LONDON
Unit trust
First Hongkong Fund; Buyer price: $115. Seller price: $1.22.
PRICES
SUGAR
NEW YORK
1.20
Closing prices, all in cents per 16.:
Contract No. (world)
Mar: 903; May: 288; July: 2.07; Sept: 28: Oct: 288; Spot (FAN Cuba) 3.03.
Tolai Goles: 34 contracts, Open Interest: 1,004 contracts.
Contract No. 8 (domestlo) Mar: 0.93; Spot (C.14. N.Y. duty): 805-UPT.
FOREIGN EXCHANGE
NEW YORK
1.007%
2.0030
Closing mies: Casada England.
oficial
30+
4.5030
90-day
2.0000
NEW YORK
Australia
2.2430
Mixed Contract
jb:
Closing prices all in cento per
Lead.
March
New Zealand
4,7005
South Africa
020085
1430
9.03
Еталсе
2041
May
10.01
W. Germany
.2307
Zinc,
March
Jolland
30.43
May
10:5
Norway
2017 .1600
witzerland
Серрак,
India
105
March
Pakistan
May
LONDON
per long fon,
Closing rates:
Mpyara Bellbra
New York
Montreal
Tin,
closing
прод 3-nonth
714
Amsterdam
19501
20556
prices, ́ail in cents per lb
Marcb
2102%
MAY
July
4.70
Lea
Beptember
appl
November
料
3-month
SINGAPORE
Zinc,
spot
Bimonth
RUBBER
NEW YORK
Rek rubber · futures
Cloring prices all' in: 'Etrafts eenis por th. to.b. Malayah ports:
Closing prices, all in sterling
Copper. rpel a-month
Copenhagen Fránkchai Lithon Oslo PATIN Stockholm
Milan Vierina
Zurich
EX-
1.40-7/16-2.80-9/18
00:27:05:30
Motor Ord-15s 10%. Ant Royre Ord-43s 10. Hawker Siddeley, Ord-288 716d. Textiles Calle Print Ord-60. nd. Ord~140 750, Coal M Ceartaulds Ord-438 1. Lancashire Cotton Ord-675
Stores
Great Universal On-l
Ord-B 744. Lang J Marks & Spencer "A" Or Woolworth (F.W.) Ord-5%# 11⁄2d
xd.
Miscellaneous
Bowmaker Ord--Blæ xú.
Tiongkong & China
Canadian Pacificos-Ke..
Indo-China Def. Ord-21 1 P. & D. Steam Nav. Det.-461 34. Stoll Theatres 00.
Alinea
De Bear Def-150μ 10yer, Orange 58 Invest. Trist
taline Tin-s 4d
To Tini (Bextori-£2-3/14.
man Antelon Choser-5. Western Hnings-102« dd,
Hubbers & Tea
Anglo Indonselan Plant-is 30. Cavian Tea Orth-200. Imprint Tea Ort-144, Kuala Lumpur-Kepong-3; Blåd. Lambak Rubber-154.
-Reuter,
Large turnover
in London
money
market
London, Jan. 30. Turnover was very large in the London money market early this wook as a result of very heavy tax pay- ments and the pay out of money received from Ford of America for the shares of United Kingdom Ford. In the resultant disruption of the credit situation, money was In keen demand and under the recullent shortage of credit the market was forced to borrow a fair amount from the Bank of England at bank rate terms.
Rates of 4% and 4% per cent were the rule in this early phase but after Wednesday the market ran into smoother waters and conditions became comfortabla with the rate casing to 43% and late balances obtained at down to three per cent.
There was a fair demand for bills over the week with April and "hots" sold to the ticaring banks at 1% and to outside sources at 4-9/32.
The only point of interest at the weekly Treasury Bill ten- der was the fact that the mar- ket secured only a small hum- ber of the bills, offered,China Matt Special.