THE CHINA MAIL, TUESDAY, MARCH 7, 1961.
New York stocks rise
to new record
New York, Mar. 6.
The stock market rose to another historic high in very heavy trading today. It was the market's ninth all-time high in the last ten sessions.
The market was alightly high- er and belive at the opening. It
moved well thend around nuca, fell back in the early afternoon, then resumed its
B. C. Tel. Co. Heli Telephone
Brii Amer. Oti British Columbla Pwr. Cana. Uk of Comm.
Brewers Canadian Parifle R. Commercial Credi
L'art risc in the final hour. Prices were slight-
ly below their best for the day | Corning Glass Works at the close,
Consolidated Paper
Corners Gas
Creole Pel
Crane Co....
a
Most cains ranged from a few rents to around one dollar share.
Standard and Poor's 500 stock Index rose 10 cents to its new Feerd of $84.05. The S & P 425 Industrinis also set a new high, up to cents to $37.87.
in
BROADEST MARKET
It was the broadest market
history
with 1,307 issues
ex
the tape. This crossing crested the previous record of 1,304 issues traded on February
510 ad
28. Of today's total. vanced, 560 declined
and 230
were unchanged.
There were 101 new
1960-61
highs and again no, new lows.
Petroleums,
tobaccos
Cuban Amer. Suger Dunand Alkali Disflers-Seagramos
Dominion Storps... Dupont de Neinnurs Eastern Air Line
49
47
341%
037
na
181
34
32
10
377%
60
12
279
Eastman Kodak
10
4994
Ford Mulor Co. of Cana,
130
Georgis Phetfic
Gencial Electric
GD
General Foods
10
Perro Corp.
Fold Mutur
General Motors Gen. Tel. & Elce. Getty Dil
Coudyear Tyte
Great Northere Raitway Gulf Oil.........
Heyden Newport Corp. Hiram Walker
Retria.
Imperial O...
¦ Imperial Tobacco
Fat Budness Machines
Int'l Harvester
International Nickel
Int'l Tel & TH
andy Tulip
electrical equipments advanced. Litton
Most other major market sec- lors were mixed,
'The Associated Press ઇન stock average also reached another record high, up .50 to 241.50.
The Dow Jones 30 industrials were up 2.09 to 074.46.
Volume rose to 5,020,000 shares, the highest number since last Tuesday when turnover was 5,830,000, com- pared with 5.530.000 traded on Friday.
shares
FAVOURABLE NEWS Wall Street, for the most part, took a bullish view of the revaluation of the German Mark and the Dutch Guilder. And
there was other news favourable to the market. 11 Included
forecasting increased survey
US spending
for new U.S. plant and equipment the fast half of this year, and rising car sales.
Wide gainers included Ameri- can Machine & Foundry, up 634 to 1184. Texaco, up 2%, Fast-
2 and man Kodak
Gineral Electric 14. Losers includig Texas Instruments, off 34 and Polaroid, down 3%.
Twelve of the 15 most active Flecks advancevi and three declined,
Aveo was the volume leader, rising 1 to 18% on 340,- 400 shares. Second was Brun- swick up 3% at 60% on 111,300 shares. Third was San Diego Imperial, up at 10% on 108,- 000 shares.
Next came Nat, up %% at 34%, and General Electric, up 134 at 80.
Other active gainers included Standard Kolisman, up 1%, Westinghouse Electric,
1. up
and Smith-Corona Marchant, up 56.
American Photocopy, rose 4%,
Revlon 4,
Beckman instru- ments 3, Anvet Electronic, Merck 2 and Lorillard 1.
Dupont fell 24 Union Carbide
34. Eastern Air Lines 1, Chrys-
ler T. Jones & Laughlin 1⁄2 and Johns-Manville 3⁄4.—AP.
Closing prices
Ablithi Pur, & Paper
Alden Inc. Aey.
Algoma Steel Corp.
Alled Chemicals
Allis Chalmers
American Airline Amer. & Farga. Power American Metal Am. Natural Gas Asbestos Corp. .... Allax Cons. Mining Baltimore & Ohio. Bank of Montreal Bank of Nova Scotia Betch Life Savers B..
"AMERICAN.
STOCKS & COMMODITIES
WHIIN SELL
WHEN
QÚY
TECHNICAL
ANALYSIS
On Stock Trends
Research Dept.
PERENNIAL TRADING CORP, 010-010 Edinburgh House
"Trong con t
Tel: 21940,
37
2012
22
2015
64%
Lockheed Alverall
Loews Incurp.
Lone Star Cement Co., Lorillard P
Miniesoin Mining
AIO Development
Montgomery Ward
Natiana Casli Iteg. "A" National Lead
New York Central
Noranda Mines Lid.
Olin Mathlexon Otis Elevators
Paclite Gas & Elec. Pass American Airways
German Japan cotton HONGKONG
stocks drop
Frankfurt, Mar. 6. West Germon stocks drop- pad to their 1961 low today following the re- valuation of the German' mark.
Heavy foreign sales had been expected in the wake of the mark meve so the decline cane as no surprise. Stock exchange ources said the bulk of the selling orders came from Swiss and American holders,
The foreign selling spurred a weakening by more than Nve per cent, affecting chiefly the lending chemical and electrical engineering, values so popular among foreign investors.
industry_asks
for 'fair deal'
New York, Mar. 6. There must be a "now con-
STOCK EXCHANGE
Our Own Correspondent
London
stocks buoyant
London, Mar. 6.
The stock
was
NSPORTATION
buoyant today and there MARK. REVALUATION
Was a general brisk ad- vanco in the industrial section.
Much of the buying support was due to the belief that the revaluation of the West Gerrasn mark and the Dutch guilder will Business done at the Hong- | give n shot in the arm to British
Slock Exchange this exports. kong
to appro- morning amounted ximately $7,200,000. Noon quotations and the moming's
transactions:
cept" governing the flow of cotton textile oxports from Japan to the United States, if Japan, the largost buyer of American surplus cotton, is to got a fair deel, Mr Takashi of Morimoto, Choirman the Board of the Associa- Bank tion of Japanese Textile Imports, Inc, said in statement to the press here today.
α
He said that if the US. in-
her
Bhares
XD
Buyers Seller
Sales
1915 1920 40 1020
1043
10 1910
1
1920
In recent years the British Export-Import balance has been consistently adverse, leading to pressure at times on the value of the pound sterling in interna- tional money marts,
British
government bonds moved ahead, oil shares were
65 1015 Arm, and gold mining Iscuts
Lombard Whart
204 Talkoo Dock 70
30 MM
+
77 1400
77
2100 27
000 701
21.90
10
105 21.70 DUO » 2140
Whoclock
tended asking Japan to continue voluntary self-imposed quota on cotton textils exports HK Gas... The Index of the Frank to America, an effective way
found of be
treating further Allgemeine
Zeltung must based on 18 selected industrials Japan fairly, Japan, he added, to An- dropped from 427.7 to 401.08 was shortly expected
plars concerning the today. The previous 1961 low |nounce was on February 7 with 411.21. quota for 1981, the last year of Foreign securities were not the voluntary five-year agreo- ment limiting Japanese colton icalile exporte to the U.S.
Japanese Dock that the He said share of the US, cotton textlie import market dropped from
457 metally quoted today.-AP.
74
70%
Paramount Pictures
Penn. Balt Co.
Pitney Bower
474
Pittsburgh Plate Class
73
Pertland Gen. Bec.
3847
Pullman
34
Radio Corporalinu
Raytheon
Republic Steel
Reynolds Melpt
Reynolds Tabseco
100.
Royal Bank of Canada, Schenley Inc.
341
207
Sinclair Oll
44
4471
Socony Mobil Oil Southern Pelle Ca Standard Brendn Standard Oil of Cal. Standard Oil of Standard OU of Sterling Dry Ca
Europe's trade
boom said
losing steam
Washington, Mar. 6.
Europe's business boom,
100 1.0
11770 21.00 10000 21.30 1470 14.00 4000 14.03
3000 & 14.70
Provident .20.20 20.30 12500 un 28.30
76.2 per cent in 1950 to 18.3 per cent in 1000, while quola-free | zu Hotel .. 5112 62
nallans had substantially in- creased their share-Bleuler,
Rubber
market
Singapore, Mar. 6.
marvel of the free world The market ruled quiet in
now is
in recent years, beginning to run out of steam, U.S. News and World Report said today. The European boom is losing some of is zip," the magazine эге in output said. "Gains slowing. Signs
that suggest demand for goods may now be past the peak. All this could hart America's export trade." "The magazine, rounding reperis from its correspondents from London, Paris, Bonn, Rome and Stockholm, said:
up
"In some countries-such as Baitain, Belgium, Holland,
and
off
49% Denmark-output levelled
In the last half of 1000. Gains 1942 this year, if any, are expected
to be quite small.
"In other
Austria, meny,
Stokely-Van Comp. Stone & Webrier
2114
Studebaker-Packard Copp. Swift & Co.
9 473'
United Aircraft
387
US. Foll "B34
100
Go
80
473 -UPI.
11.5. Gycsum
US, Rubber
ULS. Sterl
Warner Bros.
Westinghouse Electric
countries-Ger
Switzerland, Sweden, Norway-production is bumping up against the ceilings of industrial capacity and labour supply.
In these cases, expansion this year is not re-
pected to come up to that of 3900.UPI.
A monster is
rallied from an initial duli spell, -AP.
Closing prices
British Government Securities 21. Concolluated—24%. 35. Conversion—£80-11/10. 5, Funding 1083/B4---£053) 3. Bavings 1050/03-251-3/22 3. Savings 1000/70 £70.
Overseas Banda
35%, Gemun (Dawes)mā 100. 65%, Japanese, Asented-2101,"
oll
Briti Petrol-833. Burmah 0}]~442.
1600 5 14.00
11000 6 14.80
3000 in 14.00
1600 do 14.20
600 14.00
€50 14.30
Banka & Insurance Barclays Ord–700 64.
147
140
1000149
Chartered Bank--560 06.
i
ID00 148
1000 or 148
Guardian Aksurance=136s 3. Hongkong Bank-£9. Lloyda Bank---459,
2000 LF 28.30
Lombard Banking Ors-20 3.
1000 813
2300 52
UK Land
11
BO 2015
200 úr 80
37 BB 4500 on BO
500 64 EN
Taumati
142
300 at 141
Tube Investments-60
Cd.
400 142
500 142
United Steel-der 34. Vickers Ord-32% 114.
Now
135 100
200 or 134
Electric
Arcon. Elec. Industrire—–485.
IK Tran..
35% 36%
xd.
- 12 321%
100 ur 3542 1700
500 G 33
Engleh Electric Ord-40. General Electric Ort-374.
the morning with prices Ch. Light fluctuating about half
cent between high and low interest in lower shoot centred in threes which have been traded com-
Pricos paratively freely. cased later on release of export figures.
In New York, rex future to- day 45 to 80 points higher with sales of 10 contracts
Elec. XD
3013 2012
Telephone. 474
-
Standard contract closed · 00
1072135 300 133 22000 or 2014
2000
1000
000334 2000 37
1400 a 38?! 1000 11 1300203 103 ( 37 300 by 30%
1000 or 4130 330647 1000 or 47% (New) 454 455 45 1375 a 45 2233 or 454
10 80 points higher with no Cement sales reported.
Factory was looking on to- day but showing little interest. contracts were traded Only 19
most of buyers being with commission house.
No. 1 sa smoked in at 28%
shipment March/April from Indonesie, No. 2 latex grape was in at 28% unsold; 3 hrown at 23: 4 brown 2014; 4 aniber unsold in 21.
Locally, current month No, I rss was quoted at 294 cents, nominal. UPI.
growing-
and it's breathtaking
By Alexander Thomson
Newport (By Airmail),
Imagine a slice of London town stretching from the Tower to
Marble Arch, and then turning left to Hyde Park Corner. Very roughly, the area enclosed by those two lines is the size of a £100
million steelworks going up here.
It is being built by Richard | turning out 1,400,000 tons et already.
'I'homas and Baldwins Ltd., the
Jast of the steel giants still 10
be State-owned,
steel a year for the and other Industries,
"consumer
70%
Dairy Farm
40
41
Walionu. 4012 Allied Invest. 12.50
100070 1000 701
607018 500 2013
100 v 33 2025 39
2:00 391
#001 3012
1000 or 352
10500 ^ AU 1000 40 15404014
13 1000 or 1214 1000 12.70 7000
Texilie
0.00
0.70
Nanyang
A. Hubber.
Rubber T.
XD Humphreys
XD
Realty
14 14.20
12.00 1930 12.80
3000 f 12.90 5000 @ 12,00 1000 12,00
1300 12.00
256 1000 8.56 1000 $ 8.95
2000 2.60 1300 74
7000
14 020 & 14
7.45 73% 2000 @ 1.35 2000 1.40 10000 67.45
2000 up 7 1000 715 28000 7.45
5000 7.45
0.40
0 7000 8
27 27.40 100 in 27 2.575 2.825 10000 R35
20000 6 2575 103000 2.00 10000 or 2.60
100002573 74000 7,00 3000 2.00
Lane. Craw
4714
smoothing out prob- lending a helping motoren: leme, and
goods hand to one and all.
Right now, of course, the Some 0,000 men will
emerging plant is in the hands Intl Invest. Just cannot walk around in the there drawing yearly
Day
of the various contractors, and FE inv. XD £5,000,000. the 4,700 men they employ on crdinary way. You have to go packels of around
art this immense task.
This is a "factory site" you
enter
car. And, eventually, thereAnd every day 2,000 cars by car. will be 40 miles of reads to help motorcycles will
leave the Works when 201 you do so.
GJ
But KTB's thre
Mr
work
and The
Gliman
XD
1000 2.03
72400 2.60 18000 2.00
500 (18
00 fen 4
100048
15 15.30 1000 15.20
20,20
Shell Transport Ord-15s Dd. Royal Dutch-214-1/16.
Steel Engineering
Babcock & Wheox Ord 13s Dd.
Gloom is cast on
German shipping industry
Hamburg, Mar. 6.
A mood of gloom prevailed in the West German shipping industry today follow- ing the mark's upward valuation.
perged
West German shipyards de-} Sources said the rates were
orders for pend on foreign {ihree quarters of their busl-
already mess,
weakened by world-wide sinckening.
the dollar or pound and less Inoome would be 130 result of the mark revalta.
ilon.
tear
that the
higher price of the mark will
Shipbuilders
compound
even
and
They
predicted possible grave difficulties, particularly
the situation lead to cancellation of for the smaller lines-AP some million-dollar orders from abroad.
The shipowners and ship- builders associations
withheld Thorneycroft on new
official comment pending fur- ther conferences, But officials left little doubt that the Boun government move meant outright shock to them.
"We have been neglected in the German economio miracle
Elec. & Mus. Industries4ly 3d before," one source said. "Now
it is getting even wors?,"
thry Shipping circles sold feared that the Tovaluation I might have "disastrous" con- sequences for the freight and Dassenger business.
Industriale
Assoc. Portland Cement-74 411⁄2d. Beardman, Marden Ord--54. Borax (Holdings)-20, Vid. Dunlop Rubber Ordi-245" 1504). Forestal Land-13, 34. Glina (Holdings) Ord-5s od. Rediffusion Ord–436 Bd.
Turner & Newall Ord-675 4. Unilever Ord-152% 24. Westland Alreraft-17a_(kl. De La Rue Ord-03a 30.
Faper
Bowalar Paper Ord-15% 30.
Wiggin' Tape Ord-4 3d.
Tobaccom
Brittzheimer. Tob. Ord-09, 64. Carreras "D" Orümüz 4ljd.. Imperial Tobacco Ords 3d.
Motors British Motor Ord-17 d.
Hawker Siddeley Ord-281 21. Jogurt Cara Ord-bis 3d xd. Rolls-Royce Ord-438 Jd. Standard-Triumph-ile.
Textiles
A "get-together" Empress of Canada
Mr
supersonic airliner
London, Mar. 6. Peter Thornoycroft, Minister of Aviation, said he would urge on the new American Administration the need for co-operation on a now superionic air- linor project.
Mr John Rankin, a Labour Member, had told the House of Commons that co-operation in the design and development of
aircraft witn n supersonle speed of Mach 2 (over 711 intles an hour) was absolutely essen- tial, Competition might result in the machine belag put intɔ ser- vice too early.
|Social life, all-important fo
ocean travellers, is special-', ly catered for in the Em- press of Canada, the new Canadian Pacific flagship built by Vickers-Arm- strongs. Sho enters the St Lawronce service in April. and Planning, decoration
rooms "A" Ord−903 | furnishing of 14 public
has been Involved, one of the
Callco
Ord--18 Gd Coats Ord-17 d.
Courtaulds Ord...-435 30. Fine Spinners Ord-318. Lancashire Cotton Ord-70s 1d.
Stores
Great Univerani Ord-E4s. Marks & Spencer 10120
Mass Empirea Ord–13; 111⁄2d. Woolworth (F.W.) Ord~67
MiscellaneoRN
419d.
Downmakers Ord-34 101⁄2¢. Canadian Paciile Ord-$1"). Hongkong & China Ou-135, Indo-China Def. Ord-23s Dd. Land Securities Ord--203. P.&O. Steam Nav. Det.-15
Bioli Theatres-De Bd. De Beers Def–147′′ 5d. Petaling Tip-da 10d xd. Rio Tinto Bearer)-1-31/32. Roan Antelope Copper-Ja 34. Union Corporation-654 41. Welkom Gold Mining-168 od, Western Holdings—Jāle 3011⁄2d.
stubbers & Ter
Anglo Indonesian Plant.-44 3. Ceylon Tea Ord-30s_idh, Imperial Tea Ordi-ja D. Kuala Lumper-Kepong-31 24. Lambak Rubber-52; dI.
-Reuter,
Agreed merchant
rates
U.S. dollars
od
the
"Canada Room" which rises
through two decks to a
Homed
ceiling above a gallory, Separ- ated from this by wide class thrown doors, which can be
Mr Thorneycroft replied,
you are absolutely am sure right. This is a type of project in which International co operation is very necessary.
"We have urged this point, of view upon the previous Anteri-
con Administration and we will continue to do so in the present circumstanga,”
Mr George Chetwynd (La- chlet among these being A bour) asked if the plans were being based оп British or American developments.
The Minister told him, “As know we have a design project with the British Air- craft Corporation, which is pro- thinking has ceeding, and our been on the basis of a Mach-2.
open to make one long room, are the "Windsor Lounge" and the "Ban Club",
Larger than. the "Canada
Room" is the Carleton Restaur-
you
ant. The "Salle Frontenac" is leve that the
"There is some reason to be-
American pre- another restaurant The "May-
arc
fair Room" and "St. Lawrence Erence would be for the faster Club"
smaller. but quite Mach-3, but we should I think, adequate for the 200 to which attempt to do it as an inter- the First Class is restricted. For national co-operative effort."- quietude there are the "Study" China Mall Special.
and "Library and Writing
Room". For
swimmers, the
"Coral Pool" ranks socially as
a pubile room.
For children there are the "Playroom" and the "Den." A novel feature is the skyline ob- maximum servatury,
the highest almost selling 17% Minimum buying vantage point on board-LPS. 17% TT: 17-9/16 OD.; 179% 30
17-23/32 40 days,
days; 17-13/10 60 days.
Swiss Francs maximum selling 74-3/16,
Deutschemarks
500 2
200 20
5.15 5.30 2000 2000
5.19
$20 5000 or 5.15
W. 60-33.
German
4000 64 520
800 of 1915
Unit trust
Many are Irish tabourers, and as tough and colourful - ú
of I drove along some of them, whistles blow.
collection
Lypes 39 Spencer, could find.
you Macao Elec. Harry 20% winding through 2,800 acres of
U. Waterbost 69-year-old managlog felds in which
They have 354 swampy
of Hope a language incdern monster is slowly ris-director, has a hopeful eye on their own. The individualists Amoy
dven bigger things
among them, who come and go Icwong Bang
Sucere ing.
na they please, are said to have Hong.... LOOKING AHEAD "a touch of the gimp."
Wing "On A ganger has" whisper,"over 1.200.000. Taking a long lock into the
because he
certain future, he declares: "The site amount of contact with the will permit of expanding pro- boscos. A foremnan has " duction by stages up to prob- shout," meaning that he hac ubly 10 millon tons a
year."moro puli.
One of the two huge blast- Furnaces for turning iron-ore into pig-iron is already near- ly complete.
second is The well in hand.
has
Long batteries of coke ovens are taking shape. And the first part of the rolling mill section, Space is certainly one of the When Steel shares had their from which steel sheet and big impressions you get in big pull last year, there was a strip will stream at 30 m.p.h. in driving around what has been foi of talk about RTB
a continuous process, is being named the Spencer Works,
roofed in.
JIG-SAW
The whole idea of the plan- ming has
been 10 provide
for all enough room
foresee-
Everywhere there are piles able needy,
of constructional steel waiting to be fitted into this vast en-
noring 1g-saw.
on
To an outsider, there is appearance of muddy confusion. But the men on the spot say the master plan is working neatly- and smoothly.
11 the result breathtaking
BA
sold back to investors.
POSTPONED
being
That is stil the Govern- Uttlement's intention. But the oporn-
tion was
postponed to
make Just now, it is
for a marketing of £83 way com- an encouraging
million worth of steel" company mentary o11 the long-term
Preference sharks and deben tures.
also
au look for steel,
Busing the Spencer Works when they start up will be one
industry.
ix
If stock market conditions are favourable, we may see NTB Ordinary shares coming out later this year.
204
500 G ta
First Hongkong Fund;
Buyer Price
Seller Price
New Decca exhibits
for Olympia
Decca Radar, world leaders
in
$1.34 $143.
COMMODITY PRICES
RUBBER
NEW YORKC
Rex rubber futures closing priece, all in cents per lb.;
Mar. May JUTY
Aept.
Nov.
JAN.
29.50
Spol rubber unhaled Blanket crepe
No. 1 pale crepo
20.10
20.20
28.10
29,10
20.00
1.
They told me that the Beat of the biggest jobs in this key lot of steel is now expected to be produced
early next year,
SINGAPORE But a young man has been This may be a little behind picked
But there were no clues on for it, 30-year-old
Closing prices all in Straits the original target of end 1981, Campbell
who that to be picked up here today, cents per lb. 1.0.b. Malayan Adanion, But in a project of this size if married and has four children.
ODD SPOT/Mière pairs of Tall mad athletic, he has been vans are living on the Sponcer 17 years with HTB. He joined Works sile, undisturbed by the When the new plant is the firm soon after loaving transformation going on around No. 9 MAT. finlahed it will be capable of Cambridge. He is on the site than-London Ixpress Service.
ls as near a bull's-eye as makes no difference.
porta:
No. 1 Mar. Apr.
No. 3
No. 4
0013-14 70-70
3126-0231 04-05 00-an
UTI
COTTON
LIVERPOOL
Costing prices all in perice per
American Contrios Mar: 23.70; May; 24,45; July: £480; Oct: 24.20; $en; 24.45; Mar: 24.60.
Mixed Contract
Big tanker completes
A
sea trials
now 715 ft, single scrow turbine oil tanker, Edward torts Stovinson, 47,300 deadweight, built by Har- land and Wolff for Stavin- son Hardy and Co. Ltd., has been handed over her owners on completion of her sea trials.
to
marino radar, ara
The vessel is of usual tanker showing a range out of 11 [design with machinery aft. equipments covering the Poop, bridge and forecusile requirements of off types docks Rre connected by fore and aft entwalks. With a cury. of shipping,
the at
ed, mired stern
and cruiser Engineering and Marino stem, the hull is built on the Exhibition at Olympia, longitudinal cystem of framing London (April 20-May 4), with two longitudinet bulk- heads, and is divided by bulk- Among the new exhibits will heads into twelve zats of cargo be the Decca 10-inch display el carrying compartments.
console, the first marine display
Aucl.
to incorporate the interscan tech- There is oria main cargo nique for rapid measurement of pumproom and a forward puup- rango and boaring. This dis-Toom, two cofferdams and deep play is also the third genera- ink forward for oil fton of true motion displays de-wing bunkers at the forward! veloped by Decca who ploneer end of the engine room and the ed this most Important facility double bottom utter the engine some four years ago with their room and
arargod for type TM 40. Today over 700 ships are using this very ad- the carriage of oil fuel. tanka fore and aft peak {vanced syslam at sea,
arranged for water ballast.
Internat
aloo
The
dre
Considerable
ds been shown in the recently an- Ample and comfortable RC- nounced Decca TM-52400, the commodation, Including
} first British commerolat marino lounge, s provided amidships radar to operate on the 10 em. for Captain niks navigating wavelength (8-band). | Units | officers. An officers' recreation Mar: 84.103 May 24,98; July: 2350; from this entirely new equip-room in on the poop decic and Oct: 24.03; Dec: 24.65; if silment will be on the Decca the cowle revention room la
under the upper deck-th
UPI.
stand,-LPS.