THE CHINA MAIL, `TUESDAY, MARCH 21, 1961.
Wall Street stocks gain on continued heavy turnover
New York, Mar, 20,
Stocks maintained the bulk of their sharp early gains today, finishing generally higher on continued heavy turnover.
Proit-takinя in the middle of the session turned aleels, cars and chemicals Irregular but gains of around two-points In Procter and Gamble, and Texaco along with a 2% point rise in Johns-Manville helped Diw- suvinin the rise in the Jones industrial average.
Republie Steri Reynuh Melal feynolds Tobacco Sinclair Oil Socony Mobil, Of
turd Braid Standard Oil of Cali alandard on of Ind. Standard On of NJ,
Texas Co
431%
ילא
COMMODITY PRICES
RUBBER
NEW YORK
Montreal
Amsterdam Brussola Copenhageni
Frankfurt Lisbon
Oslo
Paris
Rex rubber- futures elastig Mockholm
SATI
Studebaker-Packard Corp. SWH & Co.
prices, all in cents per b
0 40%
Valon Carbide
#3114
Mar: 30: May: 31.10: July: 31.10 Sugt: 30 Nov: 30.03: Jan: Mar: 35.45-UPI.
Zurich
30.555
Union Pacific Railway
3114
United Alteraft
1112
theg
1.S. Ruby
307%
Вла
Bails came to life late in the session as Kansas City South- Kained 11⁄2 and Nickel
eril
Plate, Southern Railway
US. Gypa
U.S. Steel
Canadian Pacifle gained Jarge US Smelting trzetions. General Improve- ment in utilities, sent the aver age to a new 31-year high
Druns were mixed while aircrafts, buikling shares ond oils showed sume improve-
Mathieson, ments. Olin
out
with ♫ number of new pro- duets, gained over three
in
the chemicals where Da Pont lost about two.
Gains of more than two ap peared in such electronic Issues
as IIM, Motorola and
htt
AMP
Minneapolis (Loneywell
slid two after registering issues
of debentures and convertible
preferred stock.-UPI.
Closing prices
Alden Toe. Acy
All themnica's
At Chaletris
American Airline
Warner Bros. Weringapuse Elretrie Woolworth K. W
Rubber
market
Rex
$ 7:1
review
New York, Mar. 20. rubber futures today closed 60 lower to 65 points higher with sales of 66 contracts.
The standard contract closed
up 35 to 25 points down with sales of two contracts. Active montira
American Metal
American Smelting
American Tol & Tel
312
American Tob
24
Anneonda Copper
Aravour
470
strengta
Allas Come Mhing
Baltimore & Ohio
Betlehem Sterl
Cana, Brewers
Canadian Parille R.
Chryster Motor
Consolidated Edison
Cuban Miner, Gitar
Dupont de Nemours Eastinan Koxiak
Ford Motor ...... General Electric
General Foods
in line
showed with the six foreign markets and the higher
prices on meagre shipment of j ufferings from the Far East.
40
2424
44%
7020
173
211
Brokers said that
while
the
recent advance has brought some rubber out of the govern 4ment stockplic, the low from 787% that direction "still is only a 672 trickle."
General Motors
4824
Goodyear Tyre
38
Gulf Oil
36
let Hastaess Machines
726
Int'l Harvester
401%
International Nickel
581
12914
Int'l Tel & Tel
Kennecott Copper
Lion Ind.
Lackleed Aircraft
Loews Incorp.
Lone Star Cement Co. Minnesota Mining Mimion Development Montgomery Ward
National Cash Reg. A
National Lami
New York Central
Otis Elevators
Pacific Gas & Elec.
Pan American Airways
Paramasini Pirkures Pittsburgh Plate Glacan
Radio Corporation
Reported ripment offerings out of Indonesia includes one sheets nt 30 cents two sheels at 294 cents; three ambers al
25 cents and three-ex brown at 2214 cents pound, Locally, current month No. 1 RsS Was quoted 31 cents and spot 31%
muricet
the
25 cents a pound, bulk norrinal,,
In Singapore, ruled dull throughout after some Luitial steadiness.
The afternoon was
slow to
11 open with buying small, but some pressure
FOREIGN EXCHANGE
Canada
England.
NEW YORK
Closing rates;
1.01-3/33
2,7000
2.7830
2.7050
2.7600
1.4010
.1765
attletal 30-days 90-days
Australia
New Zealand South Africa Hongkong.. Otters unchanged,
LONDON Closing rules: New York
2.7011-2,2016 10.06-10.0314 10041-139.4244 19.3243-19.321 11.11.11.12 7004-30.01
20.00-20.01
13.7185-19,71
14.499,14.4772 1743-17442 12.10-1
HONGKONG China soybean
STOCK EXCHANGE
Our Own Correspondent,
Business done at the Hong-
Exchange kung Stockt
this morning amounted to approxi- mately $8 million. Noon quota- tions transactions.
Bharts Dayers Sellers Brin
450 HK Rank..
and
the
morning's
23 430 250 30
300 60 440
GO
400 444
100 440
exports may
upset market
Washington, Mar. 20. Shipments from China threaten to disrupt the orderly price and market for soybodns established by U.S. formons, repre- Marwin Coad **ăntativo
jald today.
Mr Coad rald China is ex- porting "mlilona” of bushels of soybeans despite its report- ed crop failure. He asked the Department of State lo it- vestigate the matter,
member
of the
House Agriculture Committee,
100
440
485
453
-UPI.
JTC Bank
(Lon. Iteg.)
23 100
58 204
Mr Chad,
Wharf
100
410
100 7 408
200 400
said tho
100 400
7015
400 69 791
600 71-30
export until
2009 & 2120
28 11000 10.40
COTTON
NEW YORK
Closing prices all in cents per 1b.:
Spot:
93.20; May: 33.27: July: 33,77; Oct: 34.37; Dec: 34.75; Mar: 35.39: May: 03.01; July: 31.4).
LIVERPOOL Closing prices all In pence per lb.:
American Contrast
Mor: 24.40; May: 24.90; Juty: 20.20; Gel: 24.45; Dec; 24.76; Mar: 24.00.*
Mixed Contracto Mar: 24.75; May: 25.30; July: 25.55; Oct: 21.90; Dee: 29.10; Mar: 2530,-
2.78-10/18-2.70-15/18 | UPI.
LONDON
London, Mar, 20. The following are today's quotations on the London Stock Market.
Closing prices
British Government Becurities 219%. Consolidated-£42-3/16. 3 Conversion-£60. 35. Bavings 1935/85——£60-31/34.
Savings 100/70-201
7%, Savings 195/75—–271K.
B:
Oversen Bonds German (Dawes) –£9915.
Hani & Insurances
Entelay Ord-72 101⁄2 Chartered Bank-60a ód, Guardian Assurance-1399 34. Hongkong Bank-£26* Lloyds Bank- 10d. Lombard Banking Ord--22 d.
Drills Petrolein-309 3d. Burmah Oil-478 3d.
Siral Tralsport Ord–130s th xã. Royal Dutch-215%
Steels & Engineering Babcock & W! xx Ord—ka K. Tube Investments-Bis od. United Steel- 34.
Vickers Orde
1%d.
Assoc. Eleg, Industries-408_3d_xd.
Elve. of sellers,
Mus. Industries-45 d. English Electrle Ord-40s, up to the
General Electric Ord-308, Julips Lamp Works-£12-13/16. Industrials Actoe, Pariland Cement-Bis 415d. Boardiman, Marden Drd-59 1330.
with
70%
20%
5812
The steady.UFI,
prices were edged day's high, ut 80 cents. market
sloses
quietly
Selling Price: 8th August, 1960 - $1
FIRST HONG KONG FUND
Selling Price: 16th March, 1961 - $1.45
SECOND HONGKONG FUND
IMPORTANT
Applications
The ofter opens on 20th March, 1981, and closes not later than 28th March, 1901. must be received at the offices of the Managers, Hongkong Unit Funds Limited, P.D. Bex x Hong Kong, or 7th floor, Alexandra House or at The Hong Kong & Shanghai Banking Corporation, The Chartered Bank or Mereantlis 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 Stock Exchange
--- FORM OF APPLICATION ——
APPLICATIONS MUST BE FOR A MINIMUM OF 500 UNITS AND THEREAFTEN,
IN MULTIPLES OF 100 UNITS
To: HONG KONG UNIT FUNDS LIMITED
No.
I/We it in accordance with the conditions contained in the offer and tubject to the terms
apply for.....................................units in the Second Hong Kong Fund at the advertised price
of $1.00 per
of the Trust Deed dated 14th March, 1901.
We enclose cheque/money order/cash for ..... number of units applied for. We understand
if no Waits are allotted.
BADUH WAHHARO
........being, payment in full for the
in the money will be returned to mesus in full
I/We declare that I/We am/are over 21 years of age.
SURNAME(5)
(In English)
{Pleie state
AIT., AITE, or Miss
OTHER NAME(S) IN FULL
ADDRESS
SIGNATURE(S).
Telephone No................
Dato
(In the case of joint applicationsæ all perabisa muiet sigh. Corporations should complete under the hand of an authorised officer whose designation should be stated)
SPECIMEN SIGNATURE(S) ...--------
NOTE: Free information bookleta má obtainable from leading banks and inernbers of the Hong Kong Stock Exchange or from Hong Kong Unit Funds Limited, 7th floor, Alexandra Houte, or 1,Q, Fox 000. (Tel. 28100).
STOCK MARKET
Berax oldinga)–103 104et. Dunlop Rubber Ort 23 d.
Forenal Land-138
Güman (Holdings! Ord-da 4990. Kudson's Bay 1915.
Rediffusion Ord—438 10150. Turner & Newall Ord-12, 150. Unilever Ord-101e 4%d,
Westland Aircraft-175 94.
Wiggin'a Teape Ord-595 434.
Chemicals
Imperial Chemical Ord-71# 41⁄4d, Monsanto Chemicals Ord-24a Dd.
Paber
Bowater Paper Ord-15s, 64. De La Rue On-0129 3d.
Tobaccos British-Amer. Tob. Ord-704. Carreran "B" Ord--44 ?!sd. Imperial Tolneco Ord-109 01.
Motors
Brilish Motor Ord-18s 10164. Hawker Siddeley Ord-19s Ínsa. Jaguar Care Ord-0338 $4. Holt-Hoyce Ord-4te 30 Standard-Triumph-lix éd.
Taikou Linck 7715
KK Gd. ... 20. 21,10 1000 21.40
ཚ
900 44 21
6472 4 15
1000 @ 14.99
Wheelock .. 14.00
Dock
134
100 @ 134
823134
Provident
XD
..... 30.73
30
150 20.10
1500
20
HK Hotel
XD
40%
500
47
1500
4054
600 4024
NK Land
75
76
100 or 77
Ex.Al
:
303 705
2006 TO 200 20 700 6 755%
Youmail
142
300
New
Tran 3h .
133
130
200 à 138
200 133
33 3315
100
2000 @ J31
C. Light...
35 351 6800 6 35
2700 4 0344
1000 33 2:00 35
100 & 35% 1000 4 3514 100 35 1000351
12500 151
500 & 3 500 35% 4000 5514
300 371%
Electric ....
17 1714
2000 37
500
2000 371
100
500
3714
500 375
500 3744
3500 p 3732 2000 @ 37
6004535
Telephone
XD
45 45%+
400
1500
4012
200
4535
1000
100 45
Cement
0712
200101
1000 cr on
500 68 600
5000715
1
Dairy
Textiles Calleo Printers' Ord-In 71⁄4d xã. Costs (J. & P.) Ord-43 94. Courtaulds Ord-411 1168. Fine Spinners (Ord-29s Gd. Lanenshire Colton Ord-01a 7!jd.
Stores
Great Univerzal Ord-545 0. Marks&Spencer "A" Ord101s
Od.
Mom Empires Ord-13 30. Tate & Lyle Ord-81 3d.
United Drapery Ord-005 31. Woolworth (FW.) Drd-378 d.
Miscelaneous
.
Bowmakur Ord-241 101d. Conodian Parile Ord—$1. Hongkong & Chinn Jag159.
Indo-China Def. Ord-43 495d. Land Securities Ord-20s 3. P. & O. Steam Nav. Dat is J. Stoll Theatrezselbe 38.
Miner
De Beers Def-140h sex.
Petaling, Tin-12s 416d
Rio Tinto (Bearer)-2-3/10. Roan Antelope Copper-81 34. Union Corporation-525 iki. Welkom Gold Minings 30. Western Holstings-131 30.
Rubber & Teas
Angio Indonesian Plant-4 1d. Ceylon Tea Ord-30 34. Imperial Tea On!--16. Kuala Lumper-Kepong-41. Lambale Rubber-bin 144d.
subdivided bean
into shares of 23 Hongkong dullors each.
Reuter.
Have
Car production
Frankfurt, Mar. 20. West Germany produced 177,- 600 motor vehicles in February compared with 197,507 vehicles In January, the Association et West German Motor Minu- Lecturers stated today. This year's February production was six percent higher than in February, 1900.
Motor car production In February totalled 143,500 units against 158,002 units in January a reduction of 0.2 per cent.
Motor
exports
in
vchleic February amounted to 80,380 units, which was 11 per cent Jess than in January but five per cent more than' la Febru ary last year.
the
The reduction in production In February was due to shorter month, the statement said. China Mall Special.
Agreed merchant
rates
Swiss francs: Maximum tell- ing. 7446.
Belgian franes Maximum cell- itin, 808.
West German deutschematic:
Maxiiiuin selling, 08.
Exchange rates
Bullies was donă, in the focal
uhoficial exchange iridiket
invening at the following retent
U dollar (per 1)
0.207
Bierling Poles (DE CILS
10.02
C.M.
Australian notes, iper R
Indonesian Rupiah, par 106) plain sela per 150 Singapola iMLERIES)
Department
of
ANSPORTATION
Foreign airlines challenge bid to limit U.S. flights
Agriculture reported that the Foreign
Chinese withheld soybeans Train
when more
metric tons
Inst January,
than 100,000
cleared the Stez
Caral, headed north.
WILL CONTINUE Foreign market experts i
Department Agriculture
the warn that the acceleraison rate is expected to continue for two months, Mr Coad Bold
The Foreign
Agriculture Service said in a separate re-
part today that U.S. exports of soybeans were at a record high in the October-December period of 1960.
Much of the increase was attributed to die "dearth of available Chinese soybeans," the report said.
During the period, it was estimated that less than 1,000,- 000 bushels of Chinese soybers maved through the Suez Canal in contrast to the record of 8,000,000 bushels In the corres- ponding 1959 period.-UPI.
U.S. money
market
cb-
New York, Mar. 20. Intermediate and long-dated United States Government ligations and investment grade corporate cased in slow dealings during the week to March 10.
the Most activity centred In
ad- intermediates, which were
versely affected by the Trea sury's announcement of an offer- Ing in 1982 and 1963.
Washington, Mar. 20.
airlines have challenged the authority of the U.S. Civil Aeronautics Board to limit the capadity of the num ber of the flights they operate to and from the United States.
stand
En
of
They expressed their
Belgium's Sabena Airlines In exceptions to a report by said the examiner made examiner Edward T. Stodola "Improper and unwarranted on a pre-hearing conference inference, in the absence
1 in the Board's clear and specifle langunge, that held March investigation of the terms of the Board intends to set up
machinery for Imposition of foreign airline permits.
capacity and frequency limita- tions as the result of thin pro- ceeding"
Record glass exports
A record of
moro thon £122 million worth
of
glass was exported during 1960 by o group of British gloss manufac turers. This was achieved despite intense com- dalfar petition, and the
for countries accounted more
than one-third of the total.
The gain over the previous year was slight but the upward trend was maintained, and
the
that
total of the group's export trade Is now more than double of eight years ago, and times the level of 16 years ago.
Britain's Cunard Eagle Air- ways took issue with the examiner's statement that there "scems to be no doubt" that the Board may Imposu capacity and frequency limitations.
"There is substantial legal doubl as to the Board's power to impose capacity and frequency limitations
on foreign permit holders," Eagle said.
"This is a most serious and basle issue which should bo decided by the examiner only after the parties have had full opportunity tu brief and
argue.
"The authorisation to act i inconsistent with Internationsi tho agreements and is beyond Board's power."
nine Swissair and Australia's Qan- tas said the legal authority of the
Last year was the first year the Board may be one of in which float glass-the glass principal issues in the proceed- made by a revolutionary new ing.
process was introduced to ever Other exceptions were led seas customers and approxi- by El Al Israel, Guest Aerovias mately 3,000,000 square ft. was Mexico, Iberia of Spain, Linca Nacional De Chile, shipped to Australia, New Zen-Acres lind, Canada, the U.S.A., Hol-Scandinavian Airlines System,
Varig of Brazil, land, Scandinavia, Brazu,
and KLM many other markets.
Royal Dutch Airlines.
In ordering the investigation, the Board took note of com-
und
Glass despatched overseas by
The lack of interest was at tributed to a tendency to await next week's new issues, includ- ing a $70 million utility offering. the group in 1900 totalled some Farm 41 $114 1090 @ 4144
Convertibles, generally, fol- lowed the trenul of the stock market with Lockheed 3 per cents leading the rise.
Among foreign Issues, tralians
3004134 280044115
20043
GOO
30
125 (48
1000 R 130 2500 B 5000 0.10
13.00
Watsont Allied invest, 12.30 12.00 Textilo
3.10 8.20
Nanyang A. Hubber. Rubber T. Realty....
Star Ferry Gilman
Kelantan
7.15 7.30
0.30 8.45
2.03 2.875 40000 # 2.80
10000 2.078
10000 ir 2.63 00000.00
20000 2.070 10000 2.70
5000 A 2.075 34000 220
000#2725
50000 4 21⁄4 25000 2.725 20000 6 2,70 50000 2.673 50000 à 2.070 210 100 210
431 4.05
28
Rope...
Int'l
Fuvest
H.K. & F.E.
18.10
Inv... Union W'boat
XAD
Humphreys
Cold Marg
24.00
0000 $1 1000 20
MAX 90 40 5000 @ 2.00
that were
traffic to which, under terms of
bilateral
agree the covering ments, they were not entitled. -AP.
150.000 tons, and was carried in plaints of U.S. airlines
some foreign operators 2,474 ships. Each day of the
large ammants of working week ten ships sailed, carrying each with an average of 60 tons Aus-of the group's gloss in its hold. were slightly better.LPS. Rhodesia's 5 per cents scored Ia good gain and Union of South
Africa 5s lost ground.
German three per
cents of October 1972 and Italy Republic three per cents of 1977 hardened, Chile three per cents improved slightly. Japanese Governments showed little change.-China Mail Speclot
Unit trust
First Hongkong Fund:
Buyer Price
Seller Price
[Ord.)
Kwong Shang
Hong
43
204 100
21.00
Wing On
Vibro
Sincero
Emp
$1.30
$1.45
ONE IN EVERY SEVENTEEN
PEOPLE IN BRITAIN IS
A SHAREHOLDER NOW
Do you own any shares?
USA 1 person in 15
BRITAIN 1 in 17
FRANCE 1 in 22
ITALY 1 in 23
JAPAN 1 in 25
W.GERMANY 50
Chart designed in nichaEL, RANO Kondel Birkus Bervice
8 dust collecting plants for Russia
be
A contract for eight dust-
collecting plants to supplied by a U.K. firm has been signed in Mos-
cow.
The plants, which will be used to purify the hot exhaust: gases from carbon black produc- on units, have been bought by the Soviet Techmash corporation.
P and O group order three cargo vessels Three cargo motorships have been ordered by members of the P. and O. Shipping Group from Clyde. shipyards on the
The value of the orders fotols about £3 million. Charles Connel and Co. Ltd., of Scotstoun, Glasgow, the firm who have recently begun, the British practice
of installing Heavy control equipment In Yensels under
trading
The manager of the flim's dust and fums division, Mr B. J. Squires, who construction before the plating negotiated with the Russians, is carried out, are to build two sald on his return from Moscow: of the vessels. "We understand that half these
This firm only build hulls and plants are for a car factory bé- in most cases the neighbouring ing built at Dniepopetrovsk infirm of Barclay. Curle and Co. the Ukraine and the rest are Ltd. supply the engines. They for works in Rostov."
The cleaning efficiency of the will do so in the case of these two vessels-building 7,000 h.p. plants is obtained by passing the Sulzer-type dlcrel engines. dust-leden gises through tubu- This third vessel is to be bullt lar "stockings" of allicone at Port Glasgow by William treated Abreglass cloth capable
Co Ltd.. Hamilton and of withstanding very high tem- member of the Lithgow group peratures. "These eight plants who have a long record of for Russin will require approxi- buliding fast cargo vessels. A mately 30 miles of filter stack-Brn of engine builders In the Ings," said Mr Squires,
This order is the latest of a
1
Lithgow group, David Rowan and Co. Ltd. will install o series negotiated overseas by similar Sulzer engine, the U.K. Hrm. Large Just- collecting projects havo boon' completed, or are nearing com- pletion, in Rumania, France, Czechoslovakia and Italy.-
LPS.
Ordared
Dredger on
trials
by the British Transport Commission da part of a larga dredger- building programme the singlo scrow triplo grab hopper dredger Trinity Sand has been on trials in tho Clyde. Built by Simont-Lobnitz Ltd., of Renfrow, this dredger is for service at Hull, Sho was launched in Novem- ber.
Of 1,400 tons gross and driven by a diesel engine, the vessel has a hopper capacity of 1,800 cuble yards. She has a grab at the bow and the other two on elther side forward of amidships. The same fem are engaged In hullding another slightly smaller topper dredger for the Brillat Transport Loginlaslon 13 Work at Floatw
Bech of the three ships will be of 13,400 taris deadweight will be for tramping about the with a speed of 16 knots. They
world and will offer high standard of cargo space, fittings and accommodation, —LPS.
PURANERICAN
STOCKS & COMMODITIES
WHEN SELL
WHEN
TECHNICAL
ANALYSIS
On Stock Trends
Research Dept. PERENNIAL TRADING CORP.
· 010-838_Kotnikirgh Hou
Kon Kont.. T: XS, 20164