GAC
Pago Z
THE CHINA MAIL MONDAY, MARCH' 20, 1961.
Weekly survey of American Weekly_survey
economy
SIGNS OF IMPROVEMENT ENGINEERING
LONDON MARKET
London, Mar. 19. Industrial stocks weathered.
the shock of South Africa quitting tho Common- wealth in good style. Encouraged by shartly im- prt ved foreign trade Agaves for February, which will help the balance of poymente stun tion, equities, rode out of the week on hither ground.
The market opened quielly but once official figures showed a big decline in imports had
the gap furrowed
between foreign purchases and exports then buyer left the sidelines and took control. Optimisin knew with the flow of good company news and signs of in Improved overall business out look.
The pound sterling had also Its speculative steadied after hammering the previous week In the wake of the German and Dutch revaluation moves.
Mam event was the cruin-
biing of South mining
African
gold
the
the
riter counters Union's decision to leave Commonwealth. Dealers slashed prices and widened quotations
to discourage paalt eviling and took their now Levels frem Johunesburg.
GOLDS
With prices down by as much
GAINS
The blue chips shared Friday's improvement, but over the live dealing sessions, Courtaulds, As- soclated Electrical Industries, Dunlop and the tobacco leaders
April considered
as crucial month
New York, March 19.
were losura. Others like Wool- The tenor of business sentiment in the
worths. Unliever, Vickers Shell scored good gains.
and
Gill edged strolled throwth the week with Interest In the government bonds at a low rub. War Loan 3% per cents managed
th Kain £57-15/16. -
0
United States rose to a point this week where the more optimistic sow an end to the current recession and signs of an upward movement.
Dullar stocks ended on Those who are harder to convince felt that all that
higher ground. In foreign bunds but Japanese assented Armed Greek lines fell back and Chinese willed.
Hongkong and
Shangha! Bank Jumped £4% to close at £98, UPI.
Brazil to buy oil from Russia
J
Brasillia, Mar, 19.
is happening is a slowdown in the decline.
Speaking for the government, recent works was marked by the Commerce Secretary said low production rates and high this week that the recession hos | layalis. Unemployment, run- hit the bottom and the upward ning at a rate of 6.8 per cent of movement will start from our the total labour force, showed rent levels.
no signs of improving despite that in March the On balance, recent business predictions news has been more encouraging million from the 5.7 million
Agure will than at any time since the re-reached in February. cession began. Subtle hints of
drop to some five
сом
that
as 15/-, there was In fact, tittle Brazil plans to buy 600,000 | broadened in the past decade, is tinue the trend of the last days
tons of petroleum and 260,000 tons of diesel oil
Russia from
this your under terms of the three your trede agreement aigned in Moscow in Decombor, 1959,
.
Wall Street stocks New portable tape
rise after temporary truce'
New York, Mar. 19.
Market analysts beseeched, cajoled, threatened, supplicated and otherwise entreated the stock market to calm down a bit this week, but the rampaging bull only paused deceitfully before racing again toward an all-time high.
A temporary truce heid while an influx of Improved activity bolow Live million business news on Thursday pro- shares for just two days, a
vided all the excuse needed for decreasing phenomenon of late, the market to go back to its uld ways of big volume and higher prices.
Who could
HONGKONG STOCK EXCHANGE
/Our-Own. Correspondini
Improvement have emerged in Automobile production this Industrial conditions and inves-week was estimated at just over Lors, at least, are firmly con- | 70,000 passenger cars, the lowest vinced that all will be well from so for this year and more than now on, judging by the demand 50
per cent below the which fins developed for com- į paralivo weok a year ago, mon stocks.
But automobile dealers cx- But the Stock Market, how-pressed cautious optimism ever much Its base has been March and Aprli anies will con- still a province of only a few. of February when the eales rate selling. Not only, are the Kars
Where business analysts really of new ears jumped now judged to be held chiefly
suddenly take heart is their assessment of some 24 per cent from the sales by a hard core of seasoned
economic conditions in gold investors, but since the
retail rate trade, improving car sales and cheered the car makers
mid-month. at
What Sharpeville shooting, of Inst
most the slow but steady climb in was the March, British and continental
improvement In the interest South African gold
new steel urders and output. truck market; again they spoke slocks has declined, although It
CONSUMER DEMAND of underlying confidence on the timproved briefly during the
For the past two weeks de- rush for the metal last October day asked the National Petro-partment store sales have been when the dollar was suspect.
the 7.5, and in some areas even 10, The golds steadied up rapidly eum Council to arrange
week, truck production HK Bank per cent ahead of last year. Im- both on statements that the purchase as soon as possible.
has been holding up well all the Union would remain in
proved, weather and RAISE PRICES
an early
this time. It was estimated at Easter this year are the main Quadros also asked the coun- sterling area and hopes that
moro than 21,000 units this but Immediately the reasons,
underlying this existing trade and duanelal er-cli to raise
-week, compared with 27,000 in rangements between the two prices of oil and all products development is what business the same week a year ago.
call solidity upset to bring domestic rates in line analysis countries will not bo
The sleek market continued to IX Bank Bumer demand. This
Lon. Reg. helped advance slowly but on a broad despite South Africa losing her with the new 200-cruzeiro dollar
Subdivided 334 The new dispel earlier concern that con- base. Commonwealth status.
rate for oil imports.
Except for automobile E. Ala sumers might be succumbing steel, new will depend on the Coppers
orders picked up Whart and diamonds Prices
Council's decision, expected to- to a penny-pinching recession across the country, especially in weakened on the Africon situa-
psychology.
construction material,, tinplate, Taikoo Dock 4015 tion, but staged an end-week morrow.
April is being considered the ¦ galvanised sheets and wire. recovery, South African Indus-
crucial month. Last year it trials also rallied Somewhat from their early pummeling.
HIGH POINT
Over the week, the Fancial Times Industrial index climbed 1.5 points to set this year's high point of 339. The high point for 1080, previously used, has now been discarded.
President Janio Quadros to-
Quadros" note to the Council ordered an inventory of petro- tcum on hand in the country. It said oll companies will have to deposit in the bank of Brazil the different between the old and new prices until current oil stocks are exhausted.
The note also authorised the Council to expropriate oll for distribution it necessary for public good.-UPI.
the
in con-
part of the business community.
Business done at the Hongkong Exchange this morning amount- ed to approximately $6.500,000. Noon quotations and the mort-
Shares Buyers Sellers
440 Sub-divided 430
While passenger car outputing's transactions:
was half the rato a year ago this
Sales
630 60 422
200 424
00 420
100 478
10 6 430
duo o 430
170 331
112
300
400
33 @ 300
100 300
400 do 350
DoD or 805
1000 B1
arguo
with February industrial production that ended a six-month decline and provided hopeful evidence of a recession at Its bottom? Automobile antes and housing starts, too, were higher and the Treasury's gold hoard increaked for the first time since July 1950.
recorder at Audio Festival
A new transistorised version of one of the most widely used portable factory type recorders — tho RE 321 — will be, de- monstrated by the U.K. manufacturer at the International Audio Festival in London from April 6 to 9.
led
twin
The design of this recorder has cond, and is fitted with full to its use for on-the-spot track, fine gap record and re- news reporting by broadcasting play heads. organisations throughout the Also being demonstrated will world, and for date recording by be n trolley-mounted
moins. transportable | government and Industrial es channel
fablishments. Ik
compactness tapo recorder (the TR 52). This and reliability in all climates instrument is intended for pre- have made it popular with ex-fessional use, primarily on those occasions when it is necessary to poditions Inte remote areas.
The recorder operates at a leave the studio. It is suitable tape speed of 7% inches per se not only for recording
actual performances, but also wherever criticul assessments must be made-for instance, at theatrichl auditions and in research es- tablishments.
Invents 'adoption' unit for sheep
equipment
This is a complete twin-chan- nel machine, with separate re- cord and replay amplifers, programme Besigned which allow a new
to be recorded and monitored problem
while an earlier recording is bo- orphan ing replayed. A monitoring to a foster awe speaker is incorporated—LPS. har beon invented by G former in north-cast England.
to simplify the .of "adopting"
fambs
As a result there was a slight lessening in speculative fever and a return to the "quality"New Issues or those cyclical swingers so sensitive to the economy. This was reflected in the Dow- Jones industrial
averago which rose 12.92 points to 876.48—only around 9 points below the all- time
high scored on January 5, 19:00.
Lockheed Aircraft, up 3% on It looks like a'small enclosed the week, was a centre of at-pen and can also be used ny. tention after receiving a $1,000 sheep handling crate and trans- million contract to develop and port box. produce 100
The ewe is held securely and je! curgo planes for the Air Force. Profit comfortably in a central
the stock con- Her clipped taking
a siderably while Douglas,
the contract,
competitor
for
lost 3.
Kerr-M:Ges
10% WAB+ A gainer in a strong all section. It
Steel output last week dipped HK S... 21.50 21.00 3000 21.00 complied to news that the
set a record in retail sales and slightly from the previous week, if business can match it this but the
longer wheelock .. drop was no there will bo every year,
marked in
whole percentage reason 10 think -that the points, The total was 1,573,000 recession corner has been tons, four-tenths of one per cent turned.
below the previous week. True, the hard-hit automobile The slight improvement in Industry all has
the economy # new car
provoked TC- l'inventory of just over one milnewed debate on how necessary lion unita and every one of are most of the legislative pro- posals of the Kennedy adminis- tration for
Selling Price: 8th August, 1960 -.-.
FIRST HONG KONG FUND
Selling Price: 16th March, 1961 --- $1.45 $1
SECOND HONGKONG FUND
IMPORTANT
Applications
The offer aper on 20th March, 1991, and clapes not later then 2814 March, 1001. must be received at the offices of the Managers, Hongkong Unit Funds Limited, P.0) Box Du Hong Kong, or 7th floor Alexandra House or at The Hong Kong & Slunghii Banking Corporation. The Chartered Bank or Mercantile Bank Ltd, during that period.
OFFER OF 1,000,000 UNITS AT $1.00 PER UNIT
PAYABLE IN FULL ON APPLICATION
All shares currently included in the Trust Fund are shares quoted on the Hong Kong Block Exchange
---- FORM OF APPLICATION ——
APPLICATIONS MUST BE FOR A MINIMUM OF 500 UNETS AND THEREAFTER,
IN MULTIPLES OF 190 UNIZS
To: HONG KONG UNIT FUNDS LIMITED
No.
We hereby apply for...units in the Second Hong Kong Fund at the advertised price of $1.00 per unit, in accordance with the conditions contained in the offer, and subject to the termel of the That Deed dated 14th Afurch. 2001.
I/We enclose cheque/money order/cash for ...being payment in full for the number of units applied zos. I/We understand that the muner will be folùmed to me/us in ful
o Units are allbited.
ANOVY WRAKAĆO
Z/We declare that I/We am/are: over 21 years of age.
SURNAME(S) (In Er:lla)
(Please slate
Mr. Mire, or kitas)
OTHER NAME(S) IN FULL.
ADDRESS.
SIGNATURE(8).
Telephone No..
Date
In the case of joint applications all persons must alien. Corporations · Mhould comptató under the hand of an authorised offleer whore desiguation "stiould be abated)
SPECIMEN SIGNATURE(S) —mu.
recession
uranium activities 700 21.70 were malding money"," 500 21.70 The 15 15.10 13000 15,30
3000 e 18.10
1000 15
Doci:
130
303 60 145
250 or 143
200 g 141 400 140
2006 139
dealing with the Provident
The rate at which Congress approved these proposals.sccined
400 64 130
606 @ 138
improved boosted
car
saleg
Ford
214
Moters
3 polits on the news that it would enter the prefabricated housing field.
pen
own lamb Is put on one side of the compartment and the orphan on the other. Because the ewe is unable to smell the stranger, the ewe accepts it in three or four days, although re- cent. records. show that accept- Bace has taken place in (24 hours.
The adopter is designed to t
tractors with a three-point link- age. The
tion.
16 ounces of powder
is a day's food
G
it was after three strönuous years of research that taxm of young nutritionists at a Middlo- sex research. Laboratory produced a bland, yellow- coloured powder that ap- proached the scientists' dream of concentrated food in pill form.
They had
evolved a unique.
4000 15.20 report
ewc and lambs can 500 ve 10.30 American
and then be taken to where requir-all-British, scientifically-blended Chrysler and GM more than d
containing 20 ed. This system also enables the food-a powder point. Johns Manville added unit to be raised to waist height ingredients essential to life and for the usual sheep examina- giving a completely balanced dict of protein, minerais, One man can assemble or dis- carbohydrate, vitamins and fat form of mantle the unit in a few mo- (the latter in the ments and. It gives complete vegetable oil).
At first the food, known as protection in all weathers.
There is a fitted feeding com- Complan, was confined to has- partment in front which pulla pital use for tube feeding to out like a drawer for replenish unconscious and bedridden init from the outside. The draw-patients-accident victims, past- er also holds a 1 gallon wa-operative cases, mental patients. ter bucket.
There came stories such as the The unit weighs about 220 lbs. case of a wond suffering frots It is 5 ft 4 ins, long, 4 ft wide typhoid fever who lay in de-
500 20.30 2000 20.40 2000 & 29.40 10041
1100 138
XD ..... 29.40.29%
Hotel
XD
*48
Ex. All
Youmati
.. 7714
145
New
135 137
**
to some observers in deplorable contrast with the urgency HK Land stump given most of these mea- sures by Fresident Kennedy.
FEDERAL LOANS Economically depressed areas would get $400 million in Fed- eral loans and
grants over Tram four-year period under a bill finally approved by Congress this week and the question was asked, how much good it will do.
XD
The government mainiained¦ Ch. Light that all these
voters
across
measures arc
needed despite its proclamation of the "bottom" of the reces- alon. It sold that long-term economic growth was as much a goal of these measures as ds- sistance to recession-hit areas.
Opponents of such legislation claimed the recession could be taken care of without an official assist from Washington. And as for long-term growth, they claimed the more than $6,000 million in local and State gov ernment bonda approved by the country last autumn will serve to stimulate lik Elec. business activity through public construction projects as well as any Congressional legislation.
These sentiments marked the basic conflict, not limited to the business community alone, over of tho administration's economic policies. President Kennedy this week realistically admitted the existence of such economic opposition but he put Tele. the blame moslly on variou limited interesta working through Congressional fobbles and claimed more people acrosa the country supported his econd- mle measures than valed him Into office lost autumn by a fractional margin.--UPI.
some
F
BANK OF ENGLAND
XD
ax cement
Dairy Farm
STATEMENT Watson
73 600 70 390
34% 743%
000 42 143
100 128 2000
100 130
GGO 3439 500
and Friday Tho Thursday buying splurge loft market opinion divided as to whether the high could be cracked before the April 16 lax deadline brings on an expected wave of profit-taking 10 produce the needed funxis,
PLENTY OF TIME
Heating, ventilating
The most optimistic feel that and 2 ft 9 Jus high-LPS, 160 144
plenty of time remains before The deadline becomes an `ime portant factor while the overall consensus holds that even if a reaction should occur, the 650 level in the industrial average will provide a decent cushion This was the level that provided such a strong upward barrier for more than a year.
200
34% 34%
337
10000
3716
*
43
Gay GOY
41%
100
અ
2800 or 3491 1000 of 344
.34%
37%
1000 A 454
2100 g. 40
1000 * 4334
200 R 40
2000 40 200 m 70 2000 O 0035 2509 20 0015 42 1000 m 42!
-300 in 42 2008 m 4122 401 4015 2000 40
1270 1000 a 12.70 8.00 1000 G* B.ED
740 10000
Allied Im Toxo London, Mar. 19. ||Manyang ....... 14.30 The Bank of England state- Amal tub. 7.33 ment for the week efided March 18, reado as follows:-
Notes
Hub. „elrculation eâ,233,301,742 [Itcally
Publie deposlis
Privato doposlis Government Other accurities Itecripta
Ratio
Invest.
3000
1000 or 7.3S Trist 11.00 0.70 4000 or 3.00 DA 27787000
14000 a 200
11,022,190
331,009,410
securitie
483,673,140
37.041,820
18,100.030 #tar
UPL
Ferry
BI.I. & F.E.
16,00
Gilman,...
4.00
450
Unit
frust
Vibro..... 33.70 22.30
Tatliny
Union Whost
Humphreys.
nofki Tres information booklets and obtainable from jeading burden and memberi 62 D16 2tong Kuba Stock Exchange or from Hong Kong Unit Funde. Limited, 9th floor, Alexandre House, or 1.0. Box 000. (TE. 23100).
Fut fondoong Fund;
Duyer price: $1.98. Boller prios: 1125.
Q.M.
inoda
д
The lagging roliraad average, thorn in the side of tech- nicians who, generally huvu been more optimistic than the "fundamentalists", managed
to
pick up 1,07 points to 144.67. The inexorably rising utility Index this time tacked on 2.02 to 110.40.
Volume, thanks to a two-day respite, fell to 20,401,401 shares from
29,026,120 the previous week and compared with only 12,948,300 at this time last year. Activity on Friday came just a small amount short of scoring the second six million day of the year.
The
exhibition
Hirium for six weeks, She was artificially fed on the food and when she eventually regainėd consciousness it was fourid that she had lost only three pounds. It was realised that the new food was one of the most vormi- lle nutritional supplements ever devised and after hospital needs first International had been satisfied, it became Heating, Ventilating and available to the public as #
nutritional Air Conditioning Exhibi- convalescents, the elderly, ex- supplement for tion at Olympia, London, pectant mothers, these on low from September 26 until calorie diela, the “difficult" October 6, 1961, will be youngster refusing to cat, as a the greatest over display quick meat and as an essential storen item for a number of its in Europe from this rapidly portant expeditions two cup expanding industry. · fuls a day
giving that extra, vital 500 calories, Visitors
be will
to able
NOURISHMENT examine in the utmost comfort, the latest products of
Apart from its more obvious an in dustry which manufactures use in providing, or adding to, a plant and equipment now con- normat diet. Complan also has a sidered necessary in every part place for those on low calorie of the world, factory, office or obesity diets for it ensures and tome.
that the patient is not deprived Ampex led the market in
of cssential nutrients whilst re- netivity with G23,400 shares, Covering an area of more, than ducing. rising a point to 2344.. Tho
100,000 square feet, 220 Dems of Most women seek a reduc- company Introducet a low-international repute, many of tion diet that appears as normal cest video tape recorder this them from overseas, will show as possible and a cupful of Com- weck. Brunswick placed all aspects of heating, ventlisting | plan- (four dessert-spoonfuls, second on 505,100 shares and and air conditioning Including 250 calories), atin fraction of galted 236 following news of Industrial oir handling and the cost of normal food, takes expansion plans overseas, treatment equipment; dust, and up only one-tenth of the por Eperty Rand up, Lockheed
mechanical mitted daily, calorie intake, and fume collection; up 31⁄2 and American Motora draught; process henting; cool-gives a much higher proportion un 2% completed the top five. Ing: allied and ancillary equip-of the total requirements of The market breakdown pre- ment and services.
protein; minerals and vitamins, Berited an encouraging picture of
To the conválcecent "and" 80 gainers, 440 losern and 145
During the Exhibition, from others who need building up, to unchanged, New highs were 27th
September until the person who requires a quick scored by 231 while only four October at Olympia, there will meal, or those suffering, from Issues dipped to new
lown for be sh International Conference digestive troubles--ulcers for
on Heating, Ventilating and Air example--the 1960-0)-UPI.
food brings Conditioning. Organised by the nourishment in scientifically- sponsoring body the Institution correct proportions.
Heating and Ventilating
Complan is now a routine ge- Engineers, in co-operation with companiment on most expedi- Association of Healing, tenis. Sir Edmund Hillary whip Ventilating and Domesite En- took it with him to the Anfare- tiluting and Domestic Engineer- tie said "A handful of snow and ing Employers and the Heating a handful of Complan and and Ventilating Research Ad- man has a meal." It has kept sociation.
alivo survivors from an Amer)- The conference will cover can air crash on an, leo, shelf in three main themnost.
Antarctica; It has been used, by a captain in the Specia). Afr 1. Administrative advances Servico (who lived on It for a Ikely in the next ten years. fortnight when trying to im
2. Technical advances likely prove. the B.A.8. emergency In the next ten years.
ration; and It has proved, ils 3. Integrated donigra of worth. in, beleaguered, aroun architectural, and engineering | cut off from mappilas et food, services for ¿vosomy or building | as, håbpened during the recent cahatiuntion:=LPA.
„Goods In England and Wales.
Agreed merchant rates
Malayan Dollars, Maximum |Belling, 52%; Miritmům Buying. 776 83% T.T., 83% a.D., 83-15/10
30 days, 54% 30 days
Exchange rates
nuing was done in the local winsofthelal excliango ...... market, this
morning, at, the followiNE ZALESI 08. dollár (pdr $13
3.12.
Fisting noter fper
Amralan notan (pg) ZAVO
Fidorealan tuplan for 100)
Singapore (dientes).
of
the