THE CHINA MAIL, ・ WEDNESDAY, MARCĮI 22, 1961.
New York closes mixed HONGKONG
New York, Mar. 21,
Stocks closed mixed after another active session today. Rails showed unusual strongth while industrial shares eased, despite a small closing rally.
Rails smashed through an important resistance level carly in the day and then moved sharply higher, aided by a Senate committee's recom- mendation for financial help to commuter lines.
Of a total 1,311 shares traded, big 050 were higher and 450 lewer.
American exchange **
was 3,200,000 shares.
Fractional gains in the grous? widespread while were eastern Hines such Pennslyvania, Atlantic Coast Line, New York Central and B&O gained well over a point.
Steel,
chemicals cars and recovered some of their earlier lossen in later rally and finished mixed. Argo gained
L
Bond volume
$0.060,000.
volur.e
amounted
to
-
Dow Jones closing averages were:
30 Industrials over 2 white Tuxaço shed about 20 Rails 1 in the olt. Phillp Morris 15 Utilities lost around {wo urek Ligget 65 Stocks
arl Myers ono in tobaccos.
• Drugs. faced
with
-878.73 of 0.11 149.83 up 3.61 111.79 up 0.97 229.39 up 1.54
Closing prices
price-
Abiti Pwr. & Paper
Aluma Steel Corp.
rigging charges, showed two
dretined paint
in Bristol Myers, Norwich.
Merck and Sterling, IBM fell around eight
In the electronics while Emerson Radle lid three Zenith picked up thres
anel
Allied Mills In
A. Brake Stroe
| A. Cable & Radle Comp
American Cyanam!
Co.
Amer. & Forgn. Power Ar. Gas & Electrie
Am.
Home Prod. Am. Natural Gar Antpex
Today's volume was 5,780,000 Amico Steel
shates.
Asbestos Corp.
in active trading
Batwin-Ling-Ham.
Hank of Montreat Hank of Nova Scotia LiDeen Life Savera
C. Tel. Co.
Bell Telephone Beneficial Finance Bendix Aviation Corp. Benguet Cons
Boeing Airplane Bonded (The) Co. Burroughs Add Machine British Amer. On British Columbia Wr. Calif. Packing_Corp. Cano, Bk. of Comm. Campbell Soup Co. Canadaian Paciße R. Case (1) Co.
C. 17. Financial Corp. Cinett Peabody Colgate-Paimallve Co. Colombian Carbon Co. Commercial Credit Coming Class Works Consolidated Paper Continental Can Continental Oil or Del, Creole Pet.... Crown Zellerbach
Delaware & Hudson Co.
Plainond Alkall
Diamond Nat'l
....
Ferro Come & Rubber Firestone Tire
$ 40
37
1st
45
17
Distillers-Seagrams
Dominion Stores
483
Donlan Aircraft
it
El Paso Natural CaS
1912
234
74
Ford Motor Co. of Cana. Georgis Pacife...
Gen. Tyre Rubber
Goodrich B.F.) Co.
Great Northern Railway
329
Gulf Oil....
Hammond Organ
201
Heyden Newport Corp.
Hi Walker ........
45
Komertake Mining Co.
COMMODITY PRICES
METALS
*
توائه مانه
Glidden Co
Grumman Aircraft
Huren Refrig
Idaho Power
NEW YORK
COTTON MARKET
Now York, Mar. 21.
Cotton futuros today open-
ed uncertain and remain- dofonsive for ed on the
the rest of the session.
Closing prices ruled off two to 18 points. The market open- ed unchanged to off 31 points. New Orleans closed off four to 11 points.
Technicians thought the mar- ket was experiencing a natural readjustment alter the recent slow, but persistent rise to new seasonal highs.
Commission
were the
house brokers sellers, prominent
hedging Gerale-down
along with scattered
a7t which
supplicit
trade demand
Buyer hesitancy also reflected
431 reports of a slackening demand for raw cation in the southern markets, suggesting that anilis had covered und merchants
their requirements for the time being.
Elsewhere, traders
markeri
time pending congressional voz- sideration
UFI.
of farm legislation,
American Contract
537%
Mar. May July
235
Imperial Ou
Imperia Tabaero
13
25.15
Inland Steel Ca
interchenical Corp.
30%
Mar,
24.10
Likert Blyers Tob, Cu
XSN C. Power & Light
G5
Mixed Contract
Lily Tulip.
NEW YORK
Mar.
24.70
Lorillard P
AB
Closing
prices all in
cents
May
Noranda Mines Ltd.
43
July
33.50
Olin Mathieson
40
or any other new incentives-
Lead
24,80
Parke Davis Cn.
424
Deg.
25.00
10.20
Penn Salt Co.
10:38
Pitney Bowes
Portland Cen. Elec.
Pullman
Mor.
11.30
Muy
12.17
Raytheon
Royal Bank of Canada
Mar.
20.93
Rice Mfg.
Sears, Roebuck & Co.
May
Southern Co. (The)
Southern Railway (Cur.))
per thi
Mar May
Zie
Copper
COTTON
NEW YORK
25.25
-UFI,
KUBBLR
NEW YORK
futures closing Rex rubber prices, all in cents per lb
Mur: 30.50: May: 50.50; July: 30.20; Sept: 0.10; Nov; 20.75; Jan: 20.75,
LONDON
Closing prices all in pence per
Closing prices all in cents per b.:
Spot
Muy
July
Oci
Dee.
Mar.
May
July
1b.:
No. 1 Rss spot........ Settlement house term:
2011-20
33.35 nom
32,10
33.64
Apr/June
25%-201
34.21
July/Sept.
251-20
34.00
Nov./Dec.
25-26
15.29
Jan/Feb.
2514-233
25.00
Mar/Apr.
25-15-25-2
35.50
General markets, e.l.f. May
baxis, parts:
2512-9519
Eslate crepe tilų April
thick April
272 2016
UPI
LIVERPOOL
Closing prices all in pence per
Shell O Co.
Schenley
Inc.
Southern Parle Co.
Sperry Rand
Steep Rock
Stone & Webster
Tine Inc.
Tradera Finance
Traveler Inc.
United CDT Corp. Western Union Tel. Co.
3 furnaces relit
Youngstown, Mar. 21.
Youngstown Street and Tube
63% announced that It had Tellt
3372
-UPI.
Unit trust
First Hongkong fund: Buyer price: $1.30, Seller Price: $1.45.
Selling Price: 8th August, 1960-$1
FIRST HONG KONG FUND
Solling Price: 16th March, 1961 - $1.45
SECOND HONGKONG FUND
IMPORTANT
Applicatione
The offer opens on 29th March, 1901, and closes not later than 20th March, 1981. must be received at the offices of the Managers, Hongkong Unit Funds Limited, P.O. Box 000 Hong Kong, or 7th floor, Alexandru Fouse or at The Hong Kong & Shanghai Banking Corporation, The Chartered Bank of 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 Stock Exchange
— FORM OF APPLICATION ----
APPLICATIONS MUST DO FOR A MINIMUM OF 100 UNITS AND THEREAFTER.
IN MULTIPLES OF 100 UNITS
To: HONG KONG UNIT FUNDS LIMITED
No.
We hereby apply for......................................unile in the Second Hong Kong Fund at the advertised price of $1.00 per unit. In accordance with the conditions contained in the uffer and subject to the terms
Trust Deed dated 14th March, 1901.
1/Wo enclose chequesmoney order/cath for .......... ........being payment in full for the number of unite applied for, 1/We understand that the inoney will be returned to meftis in full
ne Units are aloited.
AJOUX JAEHRAD
I/We declare that I/We amfora over 21 years of ado.
BURNAME(S)n English
¿Please state
Mir, Mrs, or stian
OTHER NAME(S) IN FULL-
ADDRESS.
three open hearth furnaces
at
its Compbell works here over
weekend. The the
furnaces
STOCK EXCHANGE
Our Own Correspondent
LONDON
STOCKS GAIN
London, Mar. 21.
Business done at the Hong-Industrial stocks continued
Exchange kong Stock
their good performance, this
spurred by Wall Street's morning amounted to approxl- mately $5,000,000: Noon quota- climb which alio brought tions and the morning's transac
jumps in the' dollar hore tions:
and again lifted its pre- mium for British Inves- tors in transatlantic coun- tors.
Share Beyers Hellers Sutes
HK Bank
448
00
430
50 430 175454
Breweries led the field al- though not always keeping their top levels. Engineering equilies' forged ahead but steels tended easier. Electricals and stores firmed,
Easiness marked
but Greek 7 per
1⁄4 to £35.
gilt-edged
cents gained
Olls got off to a good start but slipped later, most leaders the way losing fractions with Royal Dutch the exception going higher at £15.
оп
VANSPORTATION
'Railplanes' solve
a traffic problem
and foreign bonds were qulet, The problem of the frustration of air- traveller, who is faster than ever in the air, but slower than ever on the ground run from airport to city centre, may be solved by the use of "Rail- planes" running on an overhead mono- rail.
442
430
442
100
440
24 444
(Lea. Rep.)
Wharf Co..
330
332
200 230
100 6 380
100 300
100 m 182
Tallcoo
701;
78 1200 78
20077
300 # 761 100 60 77
Wheelock
14.00 14.70 2000 e 14,40 0000 1417
3000 14.00
BK Dock
#3)
134
100134
400 7 134
200 133
2
2:00 132
C. Provident
3
Ex. Div..
29.90
500 20.30
3
1500 0,70 30029.00
3000 + 20.40
2430 44 2000
1000 20.30
300 29.00
500 29.60
Ik Hotel
Ex. Div..
47 4014
1000 2 47
400 or 47
3200 40
IK Land
Ex. All
74%
TE 2400 12 7414
200
BOU 75
Youmati
Ex. Div..
133
tas
400 or 131
HK Tram Ex. Div.
33 3019
150 3349
3314
33
1000 m 3314
200 133
Ch. Light 341 3415 2000 m 9514
were closed down for construc- HK Elec. tion work on rolling mills,
The move will increase pro- duction sharply this week In the Youngstown district which had originally been scheduled to hold its steel operating rote unchanged at 36 per cent of capacity.
Sheet ond Tube said it would relight additional steel- making furances at the Camp- bell works this week and also that it was recalling hundreds of furloughed workers.
Tho increase in employment will be temporary, however, as the Sheet and Tube Brier Hill is in works
Youngstown scheduled to suspend opera- tions for a time early next week for reorganisation of China Mal rolling mills.
Special.
STEEL STOCKS AT
LOW LEVEL
Cleveland, Mar. 21. Inventories of steel users are about as low as they can go. according to four out of five answers to a steel magazino survey released today,
Some users say that a 10 to 16 per cent increase in orders would create inventory hard- ships in their operations.
If the tapering of ventory Hquidation is accompanied by an orderly upswing in steel buy- ing. steel makers wil RECOM- modate the growing demand by gradually increasing output and without extending delivery pro- misty significantly. They will boost operations
from
this month's average-35 per cint of capacity to 60 per cent 12 April and 85 per cent in May, the survey sáld-China Mall Special.
·AMERICAN SOME STOCKS & COMMODITIES
HK Tel.
Ex. Div.. Cement
101%
3520 35
180034
500 m 3412 2000 3415
500 31 1000 3412 1900 m 3334 200034
2000 22 3454 1000 6 345 5500 of 3475
GO @ 34
4000 341% 100 @ 343 1800 3415
37 2100 @ 2712 10003034
4415 4424
001 07
25003014 2000 có 35 1000 @ 3014 2012 3015 1000 311⁄2
500 44% 2376 $415 100000
400 0 60% 400 60 1500 @ 5612 1500 G G7 1500 0 07
GOO 0714 500 17 5000714
Dairy
40% 40%
300 419 15041 1300 4015
2000 404
2725
101
Textile
1.20
B 2000
81
A. Rubber
7.15
7.20
8000
7.13
1000
7,15
4000 7.35
Nubber T. HK Cas
0.15
6000 69.20
20.00 20.70
Realty
.... 3.0.35
KK & FE
im. Amey Can.
800 @ 20.10
1500 20,00
200 20.30 1000 do 2016
400 20
3000 20.00 3300 20.70 800 20.80
2.03 2000 2,1125
6000 is 2,00 20000 + 7.576 5000 GR.GO 15000 2.00 20000Z.325 1000 2,05
10.40
GO
300 a 19 50 of GO
Tourists
London, Mar. 21. A record 65,300 overseas visitora camo to Britain in January this year, the British Travel and Holidays Assocía- tion; official tourist organisa tlon, said today.
This was 21 per cent more than in the January of record- breaking 1980, the Association said.
Rubbers and teas were sub- dued. UPI.
Closing prices
Brill Government Becaritler Consolidated—£42. Conversion-C-13/te.
Savings 1906/05-296-31/as.
36, Savings 1960/70-£78-19/10. 3. Savings 1065/75-7-1/16.
Overseas Bonds
, Gennan (Dawest~~~£Ð1⁄4 5. Japanese, Assented-E21.
Bank Insurances
Ord-14 9.
Barc Bank-305 D.
Guardian Ansurance-140 30. Hongkong Bank - £20, Lloyds Bank-£65% 4u. Lombard Hanking On-225 kl.
علان
British Petroleum--50s. Birmah Oil-47a. Shell Transport Ord-1905 0 Royal Dutch£15.
Steris & Engineering
Babrock & Wilcox Ord-35s d Tube Investments-84 d. United Steck-695.
Vickers Ord.-334,
ALSOC
Electric
Elec. Industries-468. Flec. & Mus. Industries-04 English Electric Ord-3 kl. General Eirettle Ord-364.
Industrial
ÁRSOC l'ortland Cement-1 7ed.
A powerful financial and re- search group of leading French firms has constructed an ex-
perimental stretch of suspended Second of five Clan
monorol track at Chateauneuf- sur-Loire, a hundred miles from Paris, and after continuous trials,
system is xay that the now a commercial proposition.
The "Railplane" has a cruis- ing speed of 60-70 mph, and hangs from a "split-box" rail which completely encloses the bogles, thus giving protection from snow, lec, und sand, and also, in conjunction with rub- bur-tyred Logies, cutting out nulse.
The "pilt-box" rall permits cornering at high speed; and the Railplant is not affected by strong cross-winds. Power is sufficient to climb gradients up to 1 in six.
line A two-way connecting an airport and bity centre could be built un pil- lars, 100 ft apart and placed-on the dividing verge of a double- lane highway.
vessels launched ·
The motor cargo ship Clan Forbes, 9,000 tons gross, was launched on March 2 at Wallsend, North the East England, from yard of Swan, Hunter and Wigham Richardson Lid. She is the second of
ordered five ships from the builders by the ond Common- Shipping
British
wealth
pony.
Com-
The launching was on schio dule in relation to the delivery Track signals are duplicated date. The first ship, tho Clan Fergusson will be completed delivered to
in the driver's cabin, and en-
Boardman, Mardens Ord-able trains to be run at inter- next month and
vals of 90. seconds, normal for
Dusep Rubber Ord.-23% d Forestal Land-136.
Chan Holdings) Ord-ba 4168. Budren's Bay--13/10. Rediffusion Ordis 1019, Turner & Newall Ord-fix 3d. Unlever Ord-1525 Jad Westland Aircraft178 782 De La Rue Ord-2.
Chemiesla
Imperial Chemical Ord-716 4140, Monsanto Chemienki Ord-24 d.
Paper
Bowater Paper Ord-56s, Wiggin's Teape Ord-3s tid.
Tobaccos British-Amer. Tob. Ord-70s 3d. Carreras "1" Ord-45 74d. Imperial Tobacco Ord-10: 04.
Motors
British Motor Ord-17s 7140. Hawker Siddeley Ord-20s told. Jaguar Cars Ord--831 Id. Rolls-Royce Ord-43 34. Standard-Triumph-121.
reküllen
Calico Printers Ord-14 4158. Conts J. & P.) Ord-443 Ext. Courtaulds Ond-415 7124, Fine Spinners Ord-29 d. Lancashire Colton Ord-Gïs 1950.
atores Great Universal Ordby ods. Marks & Spencer "A" Ord Moes Empires Ord-13a Jct United Drapery Ord-69 41%d, Woolworth (F.W.) -Ord—67% 04. Miscellaneous
Dowmaker Ordmese 114 Canadian Pacine Ord-4536. Itongkang & China Gas-154. Indo-China Det. Ord-24# 41¢ď. Land Securities Ord-20s 34. P. O. Steam Nav.
dd.
Stolt Theaire-10s 41d.
Mince
The Reers Def-1401, Petaling
Des-14
Rio Tinto Bearer) 2-5/32.
Roan Antelope Copper Unien Corporation-632 31. Welkom Gold Mining-15 Western Hohlings-19
764.
3d.
Blubbers & Teas Anglo Indonesian Plant. - 11⁄2d. Cevlon Ten Ord-309 34. Imperial Tex Or16. Kupio Lumpur-Kepong Lambak Rubber-540 4:54.
Router,
the Clan Line
mass transport, but faster fee- her owners, quencies can be used. Construc- Steamers Ltd., on me. tion of a double track, with 'toll- ing stock, slations, eld., would amount fù a current maxfinum of £10 million per mile-- London Express Service.
(See pleturë)
Spoil dredger
for Calcutta
COMPETITION
Mr E. J.
Huster, chairman
of the builders, said after the
order for was ob-
com-
launching that the the fist three ships tained against overrsens petition. He added: "I think it is an intention of the own- ers' satisfaction with our work. to
their date and proot of conviction that our prices re
competitive with those main abivad, that they have recent ly placed a further order with us for two more ships, making. ave in hul
A 1,056 gross tons, steam- operated multi-bucket dradgor the Ajoy-has Just completed her trials from a Scottish yard and is sailing this month to Calcutta, Built by
Fiering and Fer-
Scot-not, like the first two, be de- guson Ltd., of Paisley,
livered to the owners to their land, Ajoy is a square-built satisfaction both with regard to vessel with twin ladders which workmanship and contract de- can be operated angles. The livery date. This la
chains of buckets can dredge
to મ
depth of 50 ft and can
"I see to reason to think that the remaining three ships will
ance which reflects
bring up from the river bed credit on alt 2,000 tons of spoil per hour. workpoople." This in discharged at right an
into hoppers through
DETTOTITI
great
our staf and
The Clan Forbes was launch- gles
ed by Mrs A. E Lemon, wife chutes.
of a director of the Clan Line. The vessel is 184 ft long and Mr B. G. S. Cayter,
deputy both her dredging equipment chairman of
and twin propellers are driven Commonwealth British and
1
Shipping Co. Joy! stcam triplo expansion Ltd, said that the new vessel machinery.
the fourth to bear the same The same firm bullt a simil-would serve the same ports or dredger in 1912 called Box-in India and South Africa as er and this vessel is still india the first Clan Forbes, service in Calcutta-LPS.
which was built in 1882-LPS,
SIGNATURE(S).
Telephone No....
Dále
(in the case of joint applications all persons must sign. Corporations should complete under the band of an authorised officer whose designation should be stated)
SPECIMEN SIGNATURE(S)
NOTE: Free information booklets are obtainable from leading banks and members of the Hong Kong Stock Buchange or from Hong Kong Unit Tunda Limitad, 7th floor, Alexandra House, or 2.0. Box'09" (Tcl. £8100).
C.M.
WHEN
DUY
TECHNICAL
ANALYSIS
On Stock Trends.
Retiafch' Depa‚ ̈ ̈ PERENNIAL
TRADING CORP.
Hojuse
Agreed merchant
rates
Canadian Dollars: Maximtıra celling 17-3/32, míñlmum buying 17-11/32 TT.; 17-13/32 Q.D.
Swiss Francs: Maximum sell- ing 14-1/2.
West German Deutschemarks: Maximiuin selling 68-7/10.
Exchange rates
kies1
Was gone in the uromelatexeliange market morning at the following raten; ..
US dollar (per 13
Sieving outer(PREJME)
Australian notes ipar. 61) Indogan, Tuptat
Bingapore (Straile)
(per 100
A "Railplano" comes to a halt on the Chateauneuf sur Loira expuri- mental line, and the
y "lowered" to bnable partengün Stove Photo, Pa
'deleand.