Page Z
THE
CHINA MAIL, THURSDAY, MARCH 2, 1961.
THE DEPTFORD DRIVE -IT'S SUCH A SUCCESS
(Mr Desmond Molins claims that his products are used more widely than all those of his rivalt put together. He makes cigarette-making machines. Why do most countries make their cigarettes the Molins way? Alexander Thomson went to the Moline Machine Co. to find out.)
By Alexander Thomson
London (By Airmail)
Mr Desmond Molins is a dark-haired and dynamic man of 50. I talked to him at the headquarters of the Molins Machine Co. at Deptford, in South East London.
It makes cigarette-making and packaging machines, and sells between 75
per cent and 80 per cent of them overseas.
Iron Curtain. other
declares.
on the
the
As few businesses are more As you go in at the firm's front door, the first thing you competitive than the cigarette sce is a big wall map of the business, most firmus in it are
nlways world.
luck out for 1 shown that 10,038 Molins equipment
will that
either machirae are now in use mineroare quality, or cut costs, every country this side of the
In satisfying that need, the "More than all Molins firm has Ufted its turn- maites combined." it over from £6,000,000 in 1058 to
last year, a record £8,000,000
Now
Ornambo ME Molins in planning further expansion. He almis to raise output by another 10 per cent in each of the next two years, Against that background I asked; "WUl you ever become public company and offer shares to investors?"
He told me: almost certain
what is the secret of your asked Desmond Fuccess?" Molin as he sat with some of his executives at a big round table.
'HARD WORK' 10s eyes it up. He smiled mischievously,
work, "Hard he said. "There are no holldays for executives here, excopt under pressure."
The leg-pull over, he turned to the more serious side of what you might calt "doing the Dept- ford drive,"
"We do a very of what our
He told me: careful analysis customers want, and also of what we think they should have.
"One day it is) thant we shall But there aro
ve to do so, no polive plans for that at the
moment.
HONGKONG
STOCK
EXCHANGE
Our Own Correspondent
Business done at the long- kong Stock Exthao this
WALL STREET STOCKS CLOSE IRREGULAR
New York, Mar. 1.
mcrning amounted to approxi- Stocks finished irregularly in most of the
mately $8,900,000. Noon queta- tions and the morning's trans- nctions:
Ghares Buyers Bellers
XD
1 Dank
Lobs 010
Sales
29 a 1870
20 1830
TO GLUTO
Bk. E. Asia
200
Lombard
43
Whart Co
200
200
300 G 202
Talkoo
741
+
1olita race in Wheelock
1000 e 7114
"When I have running, I watch the here," he explained. "It saves a lot of time.”
Being A sense of urgency. In a hurry. 1 often think too
are much Dock our firms many of too leisurely-London Express Service.
ICI projects with European Common Market
London, Mar. 1. Imperial Chemical Industries embark on a ten-year, is to
£100,000,000 manufacturing project with the European Com- mon Market.
al-
IK. & S.
Hotel
..
10 500 7416
1300 1330 2000 14
major groups today, as volume slumped sharply from yostarday's frantic pace.
Praft-taking was noticeable, however, among the building shares, rally and many of the Steels re- recent blg gainers. versed an easier trend carly in the session to finish mostly, on the upside.
International Business Much-
50001420 Ines lost a good part of its 2009 14.30 gain of the past two days bui
44000 5 14
3600 13.00 Texas
5200
0000 13.90
133
130 200
140
400 130
100 ko 150
200 £37
Instruments added
ሰ
13.00 handful of points and strength showed up La International Instru- Telephone, Beckman ments and National Cash Regis- ter.
Ch. Prov. 26.70 20.00 3000 27
500 @ 27 1200 @ 20.30 461% 40% BOGÓ A 4814
1000+ 45
309 4815 03 851 500 or 8572
2000 ** DO
HK Land
Youmatt (New)
Trøm.
34%
35
10%
J1
Announcing this
yesterday, Ch. Light. ICI said negotiations were ready well under way for a 300- pero headquarters site near Rot-
He is not the kind of bass who sits at his desk all day, He spends a lot of time on the chop floor, particularly in the research and developinent side of his busy Deptford plant.
When toets are going on, beterdain. is always there, often with his cont off and sleeves rolled up.
INFORMALLY He
his business in formally, too, and with as few board meetings as possible. directors, "My executive
and anywhere," he I get together
Even in the cor: explained. ridor if necessary. It gives
of however, senze urgency which you believes he is on another win must have, We are always in ner with his Intest Mark 8ja hurry." cigarette-making machine.
you
"And we keep in close touch with them, which
means travelling and visiting like mad nt all levels.
"Cigaretle
machines,
wear out, know, never really To slay in business, we have to keep on producing, something better all the time. It is a big battic, with our competitors Krying to do it. Ioo."
Desmond
Molins,
FASTEST
rans
it
Desmond In his own way, Molins proves that it is not al- to have a big ways necessary
to succeed in
market
He claims it is the smallest, | home lightest and fastest in the world. Exporting. It can turn out up to 1,500 non- Alter and 1,300 liter "amoke:" 13
He sells nearly four times as much overseas as he does at
Once the negotiations are con- cluded, building will start - probably early next year on a complex of chemical plants for the maitufacture of petroleum, plasties and other products. It Electric will provide employment for nearly 3,000 people, and launch Rotterdam aclf-styled "Europost" into the forefront of Europe's ports.
The £800,000,000 company s also considering various other projects to increase British ex- ports to the continent.—AFP.
CHARTERED BANK
The Chartered Bank an- nounce that at the annual minutit cuts down by half the home. The USA is his biggest meeting in London on March 29 where he hathe directors will recommend a export marktet, weight variation of each
of his largest cigarette, whlell
means sub-streaked ahead
final dividend of 7% actual stantial savings for manufac- competitor.
As we shook hands, I noticed less income tax,
turers,
a television set in the corner The machine costs £10,000 a
of his room. 1 had never scen time. But it is said to be cap- able of paying for itself in less une in than two years.
before.
J
chairman's oflee
Hong Kong 1960
An old friend-the Colony's Annual Report-makes its bow once again in a new, streamlined, format. On sale today, "Hong Kong 1980" is the indispensable guide to all who seek the most complete and up-to-date picture of what is happening in the Colony.
Bigger and better-than ever bofore, the how edition has more than 400 pages of text, 61 pages of photographs (37 of which are in colour), together with numerous naps, graphs and diagrams. The dust jacket is a striking full-colour aerial photograph of the heart of Central District.
The standard work of reference on the Colony, "Hong Kong 1960," makos an excellent gift for friends overseas.' From the Government Publications Bureau, General Post Office, and all leading booksellers.
Published Today $10.00
Agreed merchant
rates
Swiss Franes, Maximum Sell- ing, 74-15/16.
SA. Rand, Maximum Selling,
12.36.
Exchange rates
X.D.......
35 33
Telephone •
46)
40
(New)
431 4324
GI Cement
XD.
...... 6011⁄2 30
Dalty Form 30%
37
Watson...
Allied Inv. 10.00
$1 000
400
300
0510
6515
300 of 137 200 130 200 67 131 500 131 300 a 130
109 do 130 150 * 131 200 130 2000
35
31
4500 51
209 31%
200 LE 3072
In or 3114 400 or 31° 400 204
1300 231 1500 48 35% 4200 6 35% 800 464 1700 A 40% 300 461% 500 for 40 5000 40 30044
150 44
125 44
100 62 44 300 ut 432 500 43
400 7 00 1000915 1000 or 70
1000 TO
500 TO 100 or 70% 1000 or $73
5756 of 371
500 6 371 270037 200 e 38 2003412 300 40
10.00 5000 10
14000 1990 1000 1000 1000100
International Harvester, off a couple of points, held down the Dow Jones Industrial average, with heaviness also showing up in Polaroid, McGraw-HD, MGM.. The Savings and Loan Stocks, Bell and Howell, Ameri- сал Home Products, Borden, Brunswick and Mergenthaler Linotype.
Brokers attributed the some- what easier trend to yesterday's Hyrations which produced little upward progress and led to an uneasy feeling that perhaps prices were extending them
selves too far.- UPI.
Closing prices
Allied Chemicals
All Chalmera
American Metal
American Smelting American Tel & Tel American Tob, Anaconda Copper Armour.****** Baltimore & Ohio Bethlehem Steel Canadian Pacifle . Chrysler Motors Consolidated Edison Cuban Amer, Sugar Dupont de Nemours Eastman Kodak General Critic General Foods General Motors Goodyear Tyre.. Int'l Business Machines Int'l Harvester .
Internacional Nickel
Int'l Tel & Tel Kennecott Copper Lockheed Aircmrt Loows Incorp.... Lone Star Cement Co. Montgomery Ward National Cash Reg. "A" National Lead .... New York Central
Otis Elevators ·*...) Pepiño Gas & Elan Pan American Airways Paramount Platures
Radio Corporation Republic Steel Reynolds Tobacco Sinclair Oil, Socony Mobil Oil Standard Brands Standard Oil of Cal. Standard Ol of Ind. Standard Out of NJ.
$ 679-
London
The
closes mixed
י
London, Mar. 1, stock exchange was quiet and irregular today and to great volume of business was done. Industrials were inclined to retreat under modest sell pressure and minus signs pre- dominated.
Ocean-going liner is fitted into 1.500 crates
R.M.S. Victoria, a ship of unusual con- struction with a load displacement of 1,500 tons is going through a second
'construction" in East Africa.
A twith screw diesel driven ¦ main engines, each weighing 17 These components are passenger cargo ship, she was tome.
at being-re-assembled: built originally in 1958-60 at now Yarrow and Co. Ltd., Glasgow, Kusuru, where it shipwright, a under n contract placed by the caulker und an engineer, U.K.'s Crown Agents for Over-suppiled by the British ship- sea Governments and Admins-builders, Yarrow, are assisting trations, and designed to carry in the creeflon by local labour. passengers and cargo on Lake It is estimated that the ship Victoria, the largest of the well be completed ready for African lakes covering 27,000 service approximately by the
milcs,
bordered by late spring or carly surhmer. Uganda, Tanganyika and
powered by two The ship is Kenya; the lake lies in a plateau burin of the Great Rift 10-cylinder two-stroke Valley at an altitude of 3,750 ft. engines, having a joint capacity With a length atove sea level and an ap-of 1000 b.h.p.
of 240 proximate distance of 000 miles between perpendiculars
the vessel is arranged from the sea.
The order
Gold mining issues were firm at the start but reacted later were below and some prices the day's best at the Ankh.
British
Government
bands, weak recently because of the declining strength of the pound square sterling, were steadler bat closed in most cases under their dessen highs.-AP.
Closing prices
British Government Securities. 21%. Consolidated–£ 42-3/16 x1. 315. Convenion=£68-11/16. 3. Savings 1935/05-01-1/32. 3 Saving
Savin's 720
Overeni Bonds
5. German (Dawes)-≈ 15516. B. Japanese, Assented-100%.
Danks & Insurances
Barclays Ord--02 0. Chartered Bank-01#. Guardian Assurance—–133s id. Hongkong Bank-2017- Lloyds Bank-G45 Gd.
Lombard Banking Ord-190 €3.
British Petroleum-1s 3d, Burmah O-429 d. Royal Dutch-£13.
Babcock & WITCOX Tube Investments—78; 94.
· United Sleek-33 ed. Vickers Ord-s 10d.
Plectric
Steels&E d.
Aroc. Elec. Industries-434. Elec, & M., Industries-4, English Electric Ord-30% 3.
Industrialz
Assoc. Brit, Pictures 40: 11⁄2d. AOC. Portland Cement-73% 10. Boardman, Marden Ord-38. Borax (Hojainpr)-20s (4150. Dunlop Rubber Ord.—219-4150. Forestal Land-13.
Gilman (Holdings) Ort-4s 3d. Hudson's Bay--1/16.
-09
100
445
Tamer 2 Newall Ord-65s 4154.
45
Unilover. Drḍ-130s 15th
0572
Wentiand Aircraft-17
150.
49%%
43%
De La Fue Ordeče 94.
Chemicals
BOUD 0 10.90 2000 10.30 15000 10.00 Swift & Co.
14
Studebaker-Packard Corp.
87
97
1765 to 13
Union Pacific Railway United Aircraft
124
Zowater Paper Ord-$3 34. Wiggin's Teape Ortb650,
110
British-Amer. Tob. Ord-678. Carreras "B" Ord 4: $150.
8.10 $20 0000 8.15 12.00 13.10
BOO 6 13.10 B009 ( 13 2000 68 70 1000 @ 7.35 1000 1.35 4500 m 7.30 1000 711
Texan Co. Union Carbide
Us. Gypsura US. Rubber US. Smelting VS. Steel
Textile
Num ang
A. Rubber.
7.15 7.30
market this
3 R. Trust XD
B.10
U.S. dollar per $1)
01.7135
Stering Notes (per £)
Australian holes (per
il
12.7
Indonesian Rupiah, (per 100) Slam ticals (per 100)
Mon
2032
Singapore Straits)
Business was done in the local unonical moring at the following rates:
exchange
Unit
Underwriters 181 Humphrey
Realty
trust
Star Ferry
XD
First Hongkong Fund; Buyer Price: $1.25.
Seller Price: $1.33.
Lone Craw
1000 9.20
2000 9.15 1000+ 0.10
521 GB 2000 8.10 30300 0.15 3000 8.10 30 14 63
112 27.70 3000 ft 2715
10000 67 2.15
10002.175 29000 € 2.1N
309.68 US 13 1034 1000 g 61
0414
220
IX Ga... 19.40 1914 1500 à 19:00
2500 € 19.0O
200 1070|
1000
10.80
2000
1014
1:09
2042
DOO 4,19.00
2000
19
400 G 19.00
31.000
Int'l Invest. 43.90 14.10 2000 GF 14,10
2000 (14 1000 66 14.10
Climan XD 3.45
K Hope 24.20 Union Whoot Kwong Song
Hong....
Wing On...
Entertainmenta
Blinkers Emporiun
$500
1000 5 14
2000 ( 14.10 310 6000 $300
5000 G 3A)
600 21.20
2000 to 3.63
33
COMMODITY PRICES
COTTON
NEW ORLEANB
No. 2 Mbr.
Closing prices all in conts No. Mar.
por lb.:
Spot
May
ن الحدي
O
Dee
Mar
May
LIVERPOOL
0191-0212
01-02
Spot (C! NY ex-duly)
Total Sale: 27 contracts. Open interest: 1,110 contracts. UPI.
METALS
May
Nov.
20.40
July
Jan.
20.40
SINGAPORE
Closing prices all in Straits
cents
per 16.
1.0.b. Malayan
ports:
No. 1 Mar,
AFT
8296-0376 021-03
No. 4 Mar.
77-70
Spor rubber unbaled
Blanket crepe
05-6314
12.07
03.03
No. 1 prie crepe
8716-0815
LONDON
per b.:
No. 1 Time spot.
2494-25
Settlement house serm:
Apr/June
3422-241
July/Sept.
2434-24
Nov/Dec.
Tin spot 241-243-morith
Jan./Feb.
Mar/Apr.
Mar
May
Closing prices all in pence
LONDON
Afternoon Hesalon
Closing prices, all in sterling per long ton.
Closing prices all in penco
American Contract
General markets, c.lf. basis, ports:
Estela crepe
18-24% Copper spot 24%-263-month
Lend Spot 24-249-montli 244-2419 Zine Spot
3-month
per 1b.:
Mar
Max
July
Oct.
Dee. MAT.
Mixed Contrast
Mar,
May
Julr
Dec.
Mar
REEDER BEBERA
RUBBER
NEW YORK
thin Mar.
thick Mar
201
2611
AMSTERDAM
Closing prices all in guilders
per kliogram, c.ff. Mor:
Unchanged.-UPI.
SUGAR
NEW YORK-
Closing prices, all m cents ammerdam per 1b:
buyers sellers
001
802
80255
603
22543 22531
220
Н
따
Imperial Chemical Ord-70% 11⁄2d. Monsanto Chemicala Ord-Zia 90.
Paper
Tobrecos
Imperial Tobacco Ord-us.
Motors
British Motor Ord-101 1011⁄2d. Hawker Siddeley Ord-20 Migd. Jaguar Cam
3d. Rolls-Rov
Standard Triumph-10a ód.
Textiles
Calleo Printers! Ord- 145, 1015d. Coats (J. & P.) Ord-44 dil. Courtaulda Ord-42s' 14d. Fine Spinner Ord-316 Lancashire Colton Ord-709 Oct.
Blores
Great Universal Ori-831- Marks & Spencer "A" Ord-003. Tate & Lyle Ord-600 94. Woolworth (F.W)) On-Sis: 111⁄2d.
Miscellaneous
Bowmaker Ord-245 7150. Hongkong & China Gaš—150. Indo-China Det. Ord-zis Dd. Land Securities Ord-202.
1. O. Steam Nav. Def.45s
ત
Stoll Theatres—de 34.
Mines
De Beers Def-1450 73yd. Petaling Th—10%,
Rio Tinto (Bearer)1-29/33.
Welkom Gold Mining-15- Western Holdings-1319 30.
Rubbers" & Teas
Anglo Indonesian Plant,4% 30. Ceylon Tea Ord-2000. Imperial Ten Ord-46 3. Kunki Lumpur-Kepong—is 0%d. Lambak Rubber-200,
--Neuter,
by
巋
Vickers- Dower
for a service speed of 134 for the ship was and is fitted with two
and
spade based on the fact that by 1957 type scmi-balanced rudders it was found that the two operated sicamere
operation in regular
Armstrongs hand and were proving Inadequate. The electric hydraulic steering new vessel was specified to be installation, capable of moving built in Glasgow, dismantled, the two rudders through a tetul crated and shipped to Mombasa hardever angle of 10 degrees
overland to and brought
In a time not exceeding Kurumu to be re-assembled on seconds.-LPS.
the silpway of the East African Railways and Harbours Board. The vessel with successfully
Launched on September 5 last
30
year. Because of the expense New jet age' control
and difficulty of classification on for removed Lake Victoria, so
the shipping. from normal Victoria will not be classed, but her construction on
Clydeside to the point of dismantling was carried out under Lloyd's Re- gister Survey, to Class AL.
centre is opened
Honolulu, Mar. 1. A new $4.5 million cam- munications and air con- tral centre to handle jet age flying in the Pacific was opened today by the Described as a small edition Federal Aviation Agency. of the modem ocean-going The centre was built on the Liner, the Victoria presents floor of Diamond Head crater, volcano just off
The
BIGGEST JOB
extinct biggest re-assembly job on over undertaken by a Brush Waikiki beach, shipyard and will carry 500 passengers, 200 tons of general
FAA officiala
cargo, and refrigerated cargo up crete structure
said the con- should with-
to a cubic capacity of about stand the blast of a 100-megaton 4,400 X There
Arc
sleeping nuclear bomb bit en Pearl Har- berths for 248, as well as ac-bour, 30 miles away. The build- commodation for 10 ears anding has no windows and is air-
40 bicycles, a popular form of conditioned. East African transport.
con-
When planning and structing the vessel the Scottish shipbuliders had to
DUAL ROLE
has a dual role. The centro bear in mind the facilties available at Its air route traffic control will the East African yard where Honolulu. Its international flight speed jet traffic in and out of was to be assembled and the
general hazards of transit. The service station will expedito in- ternational air traffic control and ship was, therefore, constructed
be- weather communications in a bolt-assembled condition
Asia tween
and the United and special care was takt to
Staten. see that all parts fitted casily with each other, rather like a About 180 employees control jig-saw puzzle, and every item air traffic in
an area of about was carefully numbered and 5.4 million square miles. The marked for
Identification, US. mainland, by comparison, starboard side Items being covers about 3.2 million, painted green port side ired.
The control room is in im- In Its dismantled form the mediate touch with Anchorage, ship amounted to some 1,500 San Francisco, Cunton Island, erates and bundles, of which Fiji, Samoa, Australla, Wake
total weight
Island, Guam, the Philippines, approximately 1,200 tons. The Tolgyn, Midway and Kwajalein. heaviest items worO
the two AP.
the
was
FOREIGN EXCITANGE
LONDON...
Closing rates;
2.79 11/18-249 15/16 2.387-70. 10.013-10 ES
176044-11.00 -0020-80,80
20.0100 13.70%
For the first time In, tho khistory of civil aviation, Bovist authoritien læÝd granted a foreign mititne tile use of Moscow an à transit point in ila network of intérustISAL DIE routes. Mérto, Rumia only graniéd: foreign ́air carriers the risks to themiinals, at the Bovios ospital. General Eaginoy, Chier of Civil Ale Fleet of the Soviet Union abond from left), and Mr B. R. Patel, Vioo Chairman and General Manager or Air ZAMIA, TIRIPU from left), are seen signing the agreement on operating plans of the two airlines. The
• Egresinėms | porthits the Soviet stálo owned airline, Aerofies to extend their present Mon om New Delhi mir sptylòbe:16 include 'Bungeon and Diskarta, Air Tally on thủ other «RABÓI BE NOW:permitted-te dy to other Soviet villes beyond itsssww.
New York
Montreal
Contract No. 8 (world)
MAY.
Rex rubber futures closing
MAY
2.00
July
firüsla Copenhagen Frankfurt |Lisbon
Oslo Paris
prices, all in cents per lb.
Маг.
20.20
Milan
twy
July
22$0.00 28.00
Open, interest; 1,587, montenetu,
Contract No, 7; (demnatio)
Zsirjen
030