Page
Wall Street
firm in late
THE CHINĄ MAIL, ・ THURSDAY, MARCH 16, 1961,
U.S.
closes US warned Malaya's second
five-year plan
rally
New York, Mar, 15.
Stocks closed firm today on the strength of a brisk general rally
in the final hour.
Steels and care. narrowly mixed
most the through
of sesslan
closed showing gains to two points, Chemicals rem gained nigst of the early de- elines and airerafts were stronger featuring gains of aver two in Northrop and Curtiss-Wright while Lockheed lost a sizable fraction on profi! taking
Abbot Labs, down 3 after cenging it was preparing a major new product, ran against
n late frming trend among the drugs. AMF and Brunswick
Rallimore & Ohio lethlehem Steel
Cana, Brewers a Canulat 'acide H Chrysler MOUTH Commercial Credit Consolidated EI! Crane Cu... Cuban Amer, Sugar Dupont de Nemour Eastern Air Line Eastman Kodak Ford Motor General Electrie General Fooda General Motors Gelty DIL Gor alt
of possible
sugar difficulties
New York, Mar. 15. Sugar consumors face a
possible interruption supplies because of de- layod Congressional
in
GC-
tion on now sugar legisla tion, Lamborn Fig Com- pany, international sugar brokers, charged today. The current Sugar Act expires at the end of March. Great confusion and un- certainty exists in the sugar market because Congress is not moving fast enough to provide essential sugar législation, the cougar fim added.
Otk Eleypiors
73
437%
Parine Gank Elec.
50%
Pan American Airways
1812
23%
Paramount Pictures
426
Pittsburgh Plate Glass
13
14
Radio Corporation
73%
Republic Steel
021
Reynolds Metal ...
401
2002 Sinclair Ofi
Reynolds Tobarco
11416
43
Socony Mobil Oil
425
1H
Standard Brands
Standard Oil of Cal.
480P
75
6022
Standard Oll or Ind.
I
Standard All of NJ.
4014 4414
Sterling Drug Co.
04
171
Stokely-Van Camp.
214;
Studebaker-Packard Corp,
Swift & Co.
710
Теха Со. ....
100
401
Union Carbide
12742
Union Pacte Railway
312
Ba
United Aircraft
41%%%
B4
U.S. Foll "B"
30
12202
US. Gypsum
107
U.S. Rubber
41
Larwa Incorp
30%
Lone Star Cement Co. Montgomery Ward National Casa Beg. Nations Lead New York Central
32
GTA
01
10
year Tyre
Business Marisa i
added more than four each in Harvester a strong bowling section.
ELECTRONICS
International Nickel Int'l Tel & Tel Kennecoti Copper
Luckired Alterafi
Electronics forged ahead latention Ind. in the day with Backman, IBM and Litton adding around six and Texas Instruments, Zenith and Haveg up more than three. Oils were mixed with Richfeld up more than a point and Uni- versal down about the same amount.
Reynolds, facing profit-taking. lost a point in the tobaccos whlig Philip Morris, trading ex-dividend, managed a gain of close to two, Metals were firm while electrical equipments early recovered generally Josses,
Today's volume was 4,900,000 shares.
I
LONDON
"
London, Mar. 15. Buyers took the upper hand and gains spread through much of the list with en- the gineering stocks in Icad.
Of a total 1,251 shores trader, 622 were higher and 457 lower. · Trade
American exchange
volume
February's improved foreign Aigures and another government assurance on main- taining the pound brought in- Bouts volume amounted to vestors from the sidelines,
was 2,690,000 shares.
$7,210,000,
Dow-Jones
Averages were:
30 Industrint
20 Rails
15 Ulities
65 Stocks
closing
Stecks met demand, stores stock moved up. Woolworth gaining 1/- to 57/14 und Debenhams 642.88 up 1.00 were
2/- better. Molors, 142.00 of 0.24 ; breweries and building stocks 100.21 up 0.29 | went ahead. Most blue chips 222.77 up 0.36 went into the plus column bui
Courtauld and Dunlop
Closing prices
Aldea Im. Acy. Allied Chemienda
All Chalmers
American Aline
American Metal
American Smelting
American Tel & Tel
American Tob,
Atsconda Copper
Armour
Altas Cons. Mining
AMERICAN
$ 70
5214
25T
21%
273
two exceptions.
were
Gilt-edged attracted invest- ment buying and gains ranged to £1/4
Japanese assented made the firm spot in foreign bonds while 1112 Greeks gave up fractions.
Oils hurdenel arrang slocks which were otherwise un- 6! decided.
STOCKS & COMMODITIES
WHEN SELL
TECHNICAL
WHEN QUY
ANALYSIS
On Stock Trends
Research Dept. PERENNIAL TRADING CORP. DIC-010 Edinburgh House
Hong Kong. Tel: 24946, 38366
734 617%
47
Golds
gradually
U.S. Smelting
U.S. Steel
Warner Bros.
Westinghouse Electric
Woolworth (K. W.)
4506 Lamborn pointed out tlant cane sugar, refiners need sub- stantial raw supplies for April
442 70%
-UTI
STOCKS
GAIN
Babcock Wicox Ord-M. 3d. Tube velmente 80% Ott. United Steel-60s Bd. Vickers On-325 7154.
Electrie Ande, Erc. Industries-476 01. English Electrie Ord-403. General Electric Ord-376 sd. Philips Lanto Works-£124
Industrials
Alue. Portland Cement-70% 41%d. Boardman. Marden Om-59 6d. Borax Holdings)-20.
Dunlop Rubber Ord -22 10. Forestul Land--124 13d. Gilman (Holdings) Ort-5 . Hudson's Bay—L4-11732.
Rediffusion Önti-434 34
Turner & Nevenil Ord-7:9 744. Ord-3354 1448.
leves Aircraft-17 100.
De La Rue Ord-50% Ud.
Chemfells Imperial Cheinical Ord-le 38. Monsanto Chemicals Ord-245
Paper
Bowater Paper Ord-35s Dd. Wiggin's Teape Ord-Bis 7340.
Tabaceas
British-Amer. dollar
Carreras Ordu ki.
7. Imperial Tobacco Ord-G D.
Mulers
Improved
after AL hesitant, opening and optimism that South Africa would remain In the Cominon- wealth finally brought It good Spread of gains. Western hold- Ings jumped 3/0 to 141/103%2 Coppers forged ahead from the outset and as continued into higher ground.
British Petroleum gained 1/- but Shell shaded, Rubbers and tins were qulet.-UPI.
Closing prices
British Government. Securities 21. Consolidated... £42-0/16. 174, Conversion-£ada..
3. Savings 1055/65—£9o31/33. 3. Savings 1000/75–278-15/16, 3 Savings 1065/75-471-3/16,
Overtens Bonds
51, German (Dawes)-[91%. 5. Japanese, Amented-102. Hanks & Insurances
Barclays Ord-773 0. Chartered Bank-58
Grardian Assurance-13 d. Hongkong Bank-L04. Lloyds Bank-04; 0.
Lombard Banking Ord-216 30.
British Petroleum-43% 9. Burmah Oil-44
&
Shell Trar port Ord-169 d. Royal Dutch-14-11/16,
Steels & Engineering
British Motor Oid-179 Od. Hawker Sidueley 013-304 4194. Jaguar Cars Ord-60s 714. Rolls-Royce Ord-42s Ud.
Standard-Triumph-1
34.
Textiles Calico Printers" Ord-15s. Coats (J. & P.) Orá-449 Ju Courtaulds Ord-39% 10led. Fine Spinners Ord--29× 10164. Lancashire Cotton Ord-60s 10140.
BLOTER Great Universal Ord-53x 6d. Marks & Spencer "A" Ord-100% 416.
Moss' Empireg Ordin-138 45. Tate & Lyle Ord-621 4160. Woolworth (F.W.) Ord-57s 118 Miscellaneous Bowmaker Ord-14s kl. Hongkong & China Gas. JB.. Indo-China Def. Ord—25% did. Land Securities Ord-Wa.
P. & O. Steam Nav. Def. -44% 1120
Stol Theatres-10% 114.
Mleven
De Beers Def–153% Pd, Petaling Tin-12; 1990,
Mu Tanto (Bearer) - £2-1/16, Boar Antelope Copper-55 4140% Unton Corporation-šis the
• Welkom Gold Mining-17% (kl. Western Holdings-Sala 103.
Rubbers & Tear Anglo Indonesian Plant.—du 1354. Ceylon Tea Cid-339 . Inperial Tea Ord-103, Kuala Lump.r-Kepon Lambak Rubberis
Reuter.
FIRST HONG KONG
FUND
Selling Price: 8th August, 1960-$1 Solling Price: 14th March, 1961 - $1.45
A BOLD PROGRAMME
(Part II)
By Gordon Hung
Kuala Lumpur (By Airmail).
The Second Five-Year Plan, which in fact is a continuation of the first hopes to increase the total national output over the next five years by 20 to 25 per cent at a rate of four per cent a year. In terms of employment the $5,000 million expenditure should be able to provide sufficient employment opportunities for the expected increase of 340,000 new workers, 150,000 in agriculture.
and May operations In order to The accent, however, for the 1961-65 period will be on rural development
keep a continuous flow of re-
fined Sugar going to Krocery shelves and to dustrial users of sugar.
PANDEMONIUM
the In-1
"If any of our grocery stores run out of eupar, it will creat pandemonium with house wives," the statement, added.
"Agnin, Industrial users who manufacture baked
goodr candy. soft drinks and many
other fond products cunnot
operate without
of refined sugar."
steady supply
with over 25 per cent of the total sum in the public spending being allocated to agricultural sector.
Further, according to Lam- born, "sluce we have cut of sugar relationships with Cuba,
FLDA projects, availability of raw the quick mugar is limited to Mexico and
the Dominican
NEW YORK
Act.
would bring the proportion of, In the private sector Govern- rubber area planted with high- yielding material to about 65 per cent compared with 48 per cent in 1060,
ment is to spend $7.5 million in developing four more sites in the country for Industry. The Government marks oul; levels,
constructs Installs drains, proach roads, lays on water and power at all sites and then leases them to industrialists.
др
In
HONGKONG
STOCK EXCHANGE
Our Own Correxpuisdi'n
op- Noon
Business done at the Hong- kont Stock Exchange this morning amounted 10 proximately $0,100.000, quotations ond the morning's transactions;
HK plank..
1980 3000
SATO Buyers Bollers
Sales
10 @ 1000
14 @ 1900
20 GP 1974
30 1960
35 1000
70 © 1995
Reg. 1970
906
48
20 a 1576
1800
304
200
22900
390
HK Bank
Lon.
Bk. E. Asia Lombard Ins. Whart Co..
Talkoo Dock 2015 0015 EX Q34. 2140
1000
Wheelock . 16.20 10.30 1000
1000 o 19.10
403
BADO 10.10
4000 15.20
2000 & 14.30 2000 15.40
1000 Ga
2000
2000
ik. Dock .. 447 140
400 E 149
200
200 a
100
000
000
C. Provident 20.30 20.40 T300
1500
29.70
4000
150 ge 201S
1000 0 20140
1000
1000 - 29.30
1000 20.30
4035 4094
IK Hold
XD.
Under this heading thei largest agricultural investment is the development of additional, land for settlement. The FLDA has been allocated $101 million -12_times the sum spent in
As a result of the replanting. the First Plan-and it expects us well as new planting, which to carry out a yearly programine has taken place in the past, 11 of 12 land settlement schemes, is estimated that the total rub- each of which would provide ber production of the country.
The Government has already about 400 families with holdings now nearly 700,000 tons yearly
created a favourable climate of seven acres of rubber or off-will increase by 10 per cent for foreign Industriallals with palm, three acres of rice, vege- between the 1961-05 period. A a sound and stable monetary ables, fruits and other crops.
larger Increase by a third or
and financial climate. areas The target
for the more is expected In the follow- Recognition of the limited amounting to Ing five years 1066-70 as more size of the domestle market and
High-yielding 250,000 acres during the plan new
rubber the initial difficulties of launch- accom- matures.
Ing any industry has led the period, is expected to Republic."
modate about 24,000 fandlies. In
Nearly 12 per cent of the government to adopt the incen addition, another 75,000
whole sum to be spent during tive "pioneer industry polley 80,000 acres of now land are to the Second Plan will be used whereby tax relief for two to be opened for the landless for education in expending Ave years is granted to indu der the Group Settlement Arcas primary school facilities; offering tries. Tariff protection as
encouragement to new industries a two-year post primary educa- But one of the main problems tion, with a vocational bias, to
Is also considered. of this ambitious programme to those who cannoi
The Government expects the get into relieve land hunger is the avail-secondary schools; allowing 30 level of industrial output during ability
uf
the Second Plan to increase by qualified
project per cent of the primary school managers in sufficient numbers students, who under present at least half, but with the trend K Land to lead these pioneer schemes. conditions would not be able to
towards more intensive kinds The government has already continue their studies, another of production the Increase in storied management training chance to continue secondary workers is expected to be about course for prospective leaders." education for three years before 20 per cent or about 30,000
Another is the
delay in promotion examinations for fur-
during the period. screening applicants for the ther secondary
The financing of the whole schooling; ex- allocation of land.
be from ordinary This delay panding technical education in plan will New York, Mar. 15. during the First Plan resulted the rural and
revenue, local loans and foreign urban arcos; Cotton futures, edging up-in various states
loans, having a further development of the word for the fifth day in tremendous backlog of appli- University of Malaya, the main
The Second Five-Year Plan as a whole is a bold program.me item being a new faculty of all de- row, carried
medicine; and accelerating the ting economic growth and the of a young nation for accelera- liveries to new seasonal
teacher's training programme. highs again today.
successful implementation of it During this perled the $43 will go a long way towards To bypass of lol of bureau- Closing around the highs, theeracy and red tape, districts and million North Klang Straits laying the foundation or higher list ruled 5 te 17 points higher. states have now submitted
project on the
west coast of standards of living for every- The market opened up eight to the Federal Government their pleted. By that year Port Swet- emphasis on those living in the
Mainya is expected to be com- body in Malaya with particular 1 Elec. off four points. New Orleans "Red Books" on agricultural
ienham-the Federation's closed up eight to off two points, needs and improvements wanted
up rural arens, and coming pori for central Bullish sentiment continued to in their areas. reflect
The Government has called Malaya-with Its new deepwater firmness in the pot
agricultural sector berths will be able to handle market, where advancing prices the entire
Plan the 22 million tons of cargo yearly have resulted from a good de- during the Second mand and an Increasing attitude "Second Emergency--the first without delays. At present, con- gestion and delays at the port being the fight against the Com- of reserve among sellers.
have been instrumental The
munist terrorists and will
¡
a
COTTON MARKET
bales
cations.
'RED BOOKS'
to
mount operations against rural poverty and backwardness similar to the fight against the terrorists.
the
blacklisting the port. many shipping
companies Las! originally designed ycar the port, which was to handle a million tons yearly, handled 1.4 million tons.
DEEPWATER BERTHS
hulf
World
300 22.10
200 00 100 1000
Ex. All..
774 2035 200
300
Yaumatt
Yaumatl
143
150
(New)
173
129
poo
UK Tram
XD
34% 3434
1000
Ch. Light
324 3221
200
200
GOO
9000
1400 & 221]|
1000
1500
1000
2014 3034
1000
1000
*452
12:00
1K Tele
45 45% 500
GI Cement
69 CO
3000
3000
Dairy Farm
4124
42 1000
600
1300
1000 $
2000 à 42
40
7:00
rubber market son
New York, Mar. 15. Rex rubber futures today closed 30 points lower to points higher with sales of 45 contracts. The standard contract closed
27
Allied Inv.
expectation for stil higher prices later in the season, under the high government loan for the 1001 ctop, con- tinued to be the important
In this way the Government price-shaping influence, traders hopes to keep a monthly check thought.
on progress in each sector so The
New York Cotton Ex- that if certain projects begin
today to lag behind schedule, change Servles Bureau
In 1963 construction on a $30 estimated domestic Consump. Government will know at once
six deep tion of raw cotton in February and be able to lake suitable million scheme for
water berths at Butterworth, ni 045,000 bales. The Agure steps,
also on the west coast, will compared with 637,000
Among the other alms under begin. This port with the ad used in January and 730,000 the agricultural
heading are joining Island of Penang bules used in February
increasing the production of rice serves the north of Malaya and by improved seeds and double the present yearly capacity of cropping The
yearly, daily
other three million tons will be in crops,
oll developing averaged 32,300 bales,
palm, creased by another million tons Apart from a nominal situa-Nanyang forestry, fisheries, animal hus bales in
when the project is completed tion existing in the spot March bandry and to rehabilitate coco-
by 1960. nut areas.
showed renewed Armness, Among the other projects in ugher London-Singepore
mainly in sympathy with the The Second Plan also al- the pubile sector are a new in-kets. The spot March contract
mar- R. Trist taches great importance to the ternational airport for the continuation of the rate of Federal capital and the comple- March 29.
here will go off the board on rubber replanting, Expectations tion of the Cameron Highlands of about 630,000 acres of re-hydro-electric scheme-Malaya's
failed ໄດ້ Planting during the period first,
respond to the situation on the terminal exchange.
year.
rate
Jast
of
use
com-
pared with 31,000 January and 30,000 bales in Feburary last year.
Estimated consumption for
of the the 30 weeks
1000-01 season was 4,805,000 bales VS 5,297,000 bales ured in the com- parable period of last season.--- UPI.
and
COMMODITY PRICES
SECOND HONGKONG FUND
1,000,000
OPENS NEXT MONDAY
UNITS AT $1 EACH
ALL SHARES INCLUDED IN THE TRUST FUND ARE SHARES
QUOTED ON THE HONGKONG STOCK EXCHANGE
TRUSTEE: HONG KONG & SHANGHAI BANK, HONG KONG (TRUSTEE) LTD.
Free Information booklets are obtainable from leading banks, and members of the Hongkong Stock Exchange or from Hong Kong Unit Funds Limited, 7th Floor, Alexandra House, Hong Kong. Telephone 28106. Simply complete and mail the attached form.
LONDON AITTERNOON
SESSION
Closing prices, all in sterling
per long ton
The Secretaries,
Hong Kong Unit Funds Limited,
P. O. Box 690,
HONG KONG,
free booklet on the Second Hong Kong Fund,
Name
Address
METALS
NEW YORK
10 to 22 points higher with sales of two contracts.
|
The spot market
500 6 403%
500
3000 i 40
12.00 12.80 1000 €12.00
1000 * 13.70
100 6 12.00
7000 12.00
1000 12.90
2000 @ 12.30
1000 12.70
1000 * 12.70
Textile
#.70
13.40
0.80
DOCO 0 340
400032
A. Stubber
7.39 7.40
1000 o 7.30
1000
8500 (1 740
2000 47
KD *****
6.40
BIL
1:35
3000
Realty
2.475 1.70 8000
1000
35000
Forty
300
Gilman
5.10 5.20 12000
4000 6.15
1000
2000 5,13
,2000, 25 3.15
Star Dealers caid buyer ideas were anywhere tram to 4 cent a pound
offered
price, Malaya ollo riba hero 避免 rents, while buyers were
under
offered
6 cent under. Colombo offer-
cd one thick rope at
threo ambery from Indonesia of No. 1 Has spot was
Macao Eine. 14.30 14.80 1800 1412 Kelanton
in Invest. 14.00 15.30
10000 2.00
$1 cents:
H. & F.E.
Waterboat'"*.
20
XD...
32
Humphreys
2714
Rope Amoy
Lane, Craw. Eaterment Vibro
27.00
cente, quoted 30% cemts, nominal.
In London, the rubber mar- Closing prices all in guilders ket was quiet after firm with
2.40 buyers IT
spot quoted at 20% pence.
Amsterdam, the market 4.10 buyers closed alcady tocny—UPI.' 2.50 buyer
-UPI.
244
American Contraet
thick April
长
2715
Mer.
24.
AMSTERDAM
May
24.50
July
24.03
Oct.
2153
per kilogram, c.lf. April:
2-1.00
No. 1 rubber
MAT.
DANG
No. 2 rubber
20 buyers
Mixed Contract
No. 3 rubber
Closing prices all in eenis per
No. 1 crope
Mar
16:
May
Lead
Zine
Mer. May ARE. May
July
Oct.
Mar
Copper Mar
Mby
Tin spot
3-month
Buyer Selera
COTTON
€21
Please send, without obligation, a copy of the
NEW YORK Closing prices 11 in cents
per lb
23. nom.
33.42
KOCK
20.20
RUBBER
NEW YORK
Rex rubber futures closing prices, all in cents per lb.:
|_ FOREIGN
EXCHANGE
NEW YORK Closing rates. Canada England,
Gfficial
30-day
Australia
LEAD AND ZINC
CONFERENCE
Mexico City, Binr. 16, Representatives of 24' coun- tries today opened a nine-day semion to discuss the world 1.01-3/14 zinc and fead situation, under auspices of the United Nations,
Antonio Karrillo Flores, Mext- can Ambassador to Washington will presido at the general
scasions.
2.0500
Mor,
30.30
DO-days
4,7803
May
30.0
22400
July
30.20
New Zealand
2.7000
Sept.
30.10
South Africa
1.4020
Now
2000
Dolgum
020160
Jan,
29.00
Holland
180
LONDON
LONDON
Closing pricen
all in pence
Closing rates:
New York
Montreal
por b.: No. 1 spot........... 2012
Bettlement house ferm;
2011-27
Amsterdam
Copenhagen
2011-20% Frankfurt
1Awtom
2015-2016 aka 2011-2015 Patie
Apr/June
July/Rept.
Nav./Dec.
Jen./Feb.
Mar/Apr.
2003-04
C.M.
* General markete, odf, basin, josti: | sjockhol LIVEREDOL
Mar. May Closing prices all in pance Kalite crepe per lb.:
thin April
2158-1719 | lenna
Zurich
27%
Over production of zinc and lead and world market condi- tions are the general themes. UPI.
-
Exchange rates
Business was done in the locat
tarkst unoiateachinge
this maining at the following fatenjak 1.6 "dobar, tper $1} stering noter (për" 21)
Austenlan Holes DST 1) 14. Indonealm Ituplahi Gyur 100) Tele
in ticals per 100) Bingapore (@tfälts)
1019
Tranh Band Elon...A Wink on
Chicago
grain
Chicago, Mar. 15. Most-grain fatures worked lower in comparatively slow dealings today on the Board of Trade.
Into Soybeans ran
heavy profit-taking in the wake of yesterday's' sharp advance of up to 10 cents a bushel. Wheat declined tinder pcailored selling.
Wheat futures ofsed on armvil cominlusion selling. No export sales were reported, but com mercial housợi bought in mall Amounts,
Whoat
efosing ringe: inch- Arred to, pTM % conta doyDonat closing 1 87 2% 19 7 conta,--UP).