New York
Now York, Apr. 3.
The 1961 bull market continued into the fourth month today with a sharp rise in vory heavy trading.
The market was mixed and active at the opening. It turned higher in the first hour and con- tinued to improve going into the final half hour.
Tho utilities wero very strong. The industrials also advated sharply. But the ralla were weak.
and
Based
Standard on Poor'u 100. stock index, which represents more than 00 per cent of all the actual on the New York
trading Stock Ex-
change, the market set another historic high, its 14th co far this year.
Somo profit-taking toward the cloen left prices slightly. below their beat for the day, bu the
remained market firmly ahead on average.
Standard and Poor's 500 stock Index rose 54 cents to another
|
Closing prices
Abitibi Pwr. & Paper Algoma Bieel Carp. Allied Chemicaly Allied Milia ino. Allis Chain:ers Am Brake Shoe
Ain. Cable & Radio Corp, Americas Cyanamid Co. Amer. & Forgn. Power Am. Ga Electric A Home Prod.
Am. Mech. * F diy. American Motal American Smelting Am. Sugar her. American Tel Tel Amaricas Tob. Ampex
Anaconda Copper Armoir
Asbestos Corp. Haldwin-Lima-llom.
Baltimore & Ohio Dank of Montreal
Bali Tolephone
Benenelal Finance
Bendix Aviation Corp. Benguet Cons Bellehem Steel
THE CHINA MAIL,・ TUESDAY, APRIL 4, 1961.
stocks rise in heavy trading
Pan American Airways Paramount Pictures
Penny J. C. Co.
Piip Morris
Gamble Co.
Penn. Balt Co
Pitney Bowes
37
Procter &
62
Portland Gen. Elec.
40
201
Publicker Industriem Puliman
40
Pure Oli
Máslo Corporation
401% Radio Curp.. Pref.
Faytheon
Rebalic Bleel
Reynolda Tolaocu
Schenley Inc.
1916 | Warner Bros.
17
Waukesha Motors
Westinghouse Air Brake
201
Westinghouse. Electrie
Western Union Tel. Co. West Va. Pulp & Paper
167
Winn-Dixie Stole
Woolworth UK. W3
1145
Zenith Radio
0734
3144
2011 4331
U.S. wheat crop
Washington, Apr. 3.
shares in
No par value' HONGKONG UK proposed
London, Apr. 3. Around 100 Conservativa Members of Parliament have put forward ø parlia- | mentary motion urging the government to Intra- duco legislation which would give commercial companies the right to itsuo shares of "no par value" if they so desired.
The practice of Issuing shares
STOCK EXCHANGE
this
Business done at the Hong-
Exchange kong Stock morning amounts
to appro- ximately #7 million. Noon the morning's quotations and transactions:
Bhares Dayerá mellora MATER
100 Bank
446 440
.'
11K Bank
Lon.
150
410
420
Talkon Dock 701
of "no par value" that is, Whart shares allowed to find their
awn price level in stock market in Gas .. 21.00 operation-La
in the common United States but not here.
220440
80 440
190-41 440
70 400
400 G 20 1.90300
4500 $23 0590 40 21.00
1000 $1,90
Airline offers low
Brates between
London, New York
London, Apr. 3.
The motion of the 100 Con- Whedlock... 15.23 25.40 1000 13.10 Return airliner flights between London
servative
MPA
rocalled that 22 A total US. wheat crop acceptance of the principle of
this year of 1,262 million no
par values had been bushels was predicted by announced by tho British the Agriculturo Depart-government five years ago ment, about 100 million the course of a debate, bushofs · less than 1980 output.
09
197
112
Royal Bank of Canada
27
Royal Dutchi
61
Rem Mfg.
Sears, buck & Co.
1271
Bell ou co
75
Sateway BTRA
223 Yatt Reg. Paper
3012
4
481 Sout Paper
142 Smclair Ou
27% Blestar Corp.
40
Small Klow & French
0174
Bocony Mod Da
Bank of Nova Scotia Beach Life. Savers
South Puerto Rico Bugal
10
Bouthern Co. (The)
4318
Bouthern Natural Gas
47912
Southern Pociu Co...
4472
Southern Hallway (Com)
Sperry Rand
031
Standard Braate
407%
Standard Oil of Cal.
Standard Oti of Indi
44
Standard Oil of NJ.
Steep Rock
304
BLOND & Webster
3
3312
Studebaker-Packard Corp.
Bunmine Mining
40
Swift
Co.
મ
Texas Co.
4412 DZEN
101
Textron Inc.
20
230
Tokol Chem
.43
124
Tio later o
142%
Time.
100
3744
Travelor Inc.
great
100
CIT. Financial Corp.
63+
Tet-Cont. Warrants
Chrysler Motors
4437
Twentieth Century Fox Fi
Cluett Peabody
B
Union Carbide
Colombian Carbon Co.
-67
Uvan bi cử cá
Commercial Credu
0015
Union Pacific Railway
Carping Glass Works
190
United Aircraft
701 United Fruit
431
United Gos Corp.
40
all-time high of $65.00. Its pre-1. C. Tel, Co. ... vious record of $85.00 was aut on Thursday, the last trading day in March, The 9 & P 425 fndamirials also set another new high, up 33 ccnts to $80.30, The record on Thursday was $68.70; Based on the index, the quoted value of all stocks listed on the Exchange Now York Stock gained about $3,300 million,
Mert gains ranged from a few cents to around $2 a share, but there were much wider noves among high priced and selected Issues.
·
A FEATURE
It was the brundest market in history with a total of 1,334 fasues crossing the tape. This compared with the previous re- cord of 1,318 set on March 7. 622 nd- of Monday's total, vanced, 522 declined and 190 closed unchanged. There
were
185 new 1001 highs and six new lows.
A market feature was Ameri- can Telephone & Telegraph. It rose from its all-time record of $122.37 set <971 Thursday $127.75, for a gain of $8.87. Was as high as $130 for time on Monday.
Boeing Airplane Borden (That Co. Burroughs Add Machino British Amer. Oil ........ British Columbia Pwr. Calif. Packing Corp. Cana. Bk, of Conun Campbell Soup Co. Canadian Pacine R. Care (J. 1.) Co. Cat. Tractor
Celanese Corp.
Consolidated Edison Consulated Paper Continental Can Continental Oll of Det. Creola Pet
Cuban Amer. Sugar Delaware & Huldron Co. Dumond Alkali Diamond Nati Distillers-Seagroms Douglas Aircraft Dow Chemical
Dupont de Nemours Eastman Kodak .... El Paso Natural Gas Family Finance Corp. Perro corp.
Firestone Tyre & Rubber
First Nat. Chy Hank
to Georgia Paton
11 General
Aircrafts, electronics metals and, petroleums advanced. Stects and cars were mixed Chemlenls derlined with the rails.
The high speed licker tape was late repeatedly. It was be- hind floor transactions as much as eight minutes during most of and was six the morning. minutes late at the close.
The Associated
Press 60-
Block average rose 70 to 244.20,
The Dow Jones
30 industrials
were up 80 at 877,50,
Volume
to rote
0,470,000 shares. compared with 5,610,000 shares traded on Thursday,
1) General Electric
The volume was the brzest in more than five years. It war exceeded on September 26, 1055, when 7,120,000 shares changed hands following the zews of former President Eisenhower's heart attack.
The business news was better, but it falled to help the In- dustries concerned. It included higher U.S. car production and an Increase in U.9. steel output last week.
analysis sald
Wall Street AT&T's goodi performances of late were assisted by President Kennedy's proposed big ex- penditures for space projects, They cald much of the buying of AT&T has been by institu- tions and other big purchasers. -AP.
|
General Fiesta
General Motors Gen. Tel. & Elec
Gen. Tyre & Rubber Goodrich . F.) Co. Goodyear Tyro .......... Great Northen Railway
| Grumman Aircraft
Gult Oil Hammond Organ Heyden Newport Corp. Hiram Walker
fomeslake Mming Co. Burman Refrig.
Idal Power inperial 01 Ingersoll-Rand
Interchemical Corp. Ml) Business Machines
| Int's Harvester
international Paper Interaßenal Nickel
Int'l Tel & Tei
plans-Monvillo Co. Kalser Industries
Kennecot Copper
Jaggelt & Myera Tob. Co. Lily This
Lockheed Aircraft
200w. Incorp,
Lone Star Cument Co.
orlard P. Lowenstein & Sou McDermott J. Ray McDonnell Aberaft
Merck
Meal fron Carp. Minnesota Stating Monsanto Chemist. Cu. Montecatini Montgomery Ward
Ine. National lleul Co. Nailonal Cans Rer. "A National Dairy Prod. National Lead National Steel Corp. New York Central Noranda Mines Lid. Norfolk & Western By. North Amer. Aylatiori Northwest Airlines Oklahamn Nat. Cas om Malderon One Elevators Owen-Illinois Ginze Oxford Paper Co. Preiße Go & Elec.
P.O
ORIENT
LINES
EMBARKATION NOTICE
s.s. "CHITRAL"
US Qypsum
SIA VO Ltda Co.
301 Smelting istus Gtee!
US Rubber
dona
US Steel 7 TO PT
la
The present motion is spon- Kored by Mr Robert Carr, Choleman, of the Conservative Trade and Industry Committee, and other influential members of the party,
If growers carry out their March 1 planting intentions find yields this year equal the 1036-00 average,
about 228 million bushels of spring wheat Main reason for putting t should be harvested. A winter down is the strong feeling that wheat crop of 1,034 millon | the subject
been bushels was forecast in Decem- thoroughly investigated and tho principle approved some years ago, the polley should be im
without further plemented delay. China Mail Special.
Elb
Winter wheat in the northern plains came through the winter in generally fair condi 21 Bitlons, the Agriculture Depart- 1279% ment
reported. while stantial growth was evident in the central great plains. Warni weather in the southern great plains stimulated, quick growth autunin-planted wheat con- tinued to progress well in the 30 far northwest, it salu.-China
Mall Special.
**
24
33
COMMODITY PRICES
NEX
METALS
May
Standard 29.85
20.00
Sept.
20.00
Nov,
22.00
Jan.
29.65
Mar.
10.40
-UPI.
NEW YORK
Closing prices all in cents per •
311 16.:
Lead
May
July
4431
Zlac
May
July
Copper May
July
EMBARKATION: The ship will be berthed at No. 1
SAILS:
BAGGAGE:
Pier, Kowloon Wharf. Passengers should embark botween 2.30 pm. and 4.00 p.m. on Tuesday, 4th April, 1901.
The Ship is expected to salk at 5.00 p.m. on Tuesday, 4th April, 1961.
Should be sent to the Hongkong & Kowloon Wharf Co.'n Godown (No. 2 Gate), Canton Road, between 8.00 a.m. and 5.80 p.in. on Monday, Ord April, 1001.
SUBJECT TO CHANGE
Agenta:
MACKINNON, MACKENZIE & CO,
OP H.K, LTD. Tolephone: 38211/0
RUBBER
NEW YORK
10.45
28.33
TORDIGA CACHANCL
NEW YORK
Closing rates: England omelet
30-days
+ Do-day's Austraila
New Zealand
Rubber futures closing prices, South Africa
ull in cents per lb.
Others unchanged.-UFI,
having
Accord between U.S.-Japan firms
Now York Apt. 3. Mitsubishi Hoavy Industries of Kobe, Japan, would bogin manufacturing gas turbines this year under a licence and technical as~, sistance
on- agroomont nounced yesterday by the Westinghouse Electric In- ternational Company.
Under the agreement, West-
1000 LB.20
1000 10.40
4000153 5000 15.30 10001535 2000 15,40
1000 k
1000 G
270 15.30
1 Dock
120
122
1300
100 G 137
200 # 120
200 W
400
Provident
XD
20.00
30
1000 €
1000
2000
0:00 4
303
1500
30
200
30
HK Hote..
404
47
2500
401
47
4012
HK Land.. 79 10
IK Lond
2000 us 19
Rts
315
Youmat!
XD
137 139
Tram
100 138 50 6 139 400 W 199 1100133 30% 343% 2000 19 16
1500 30%
DOO #301
2000 438
inghouse would provide Mitsu- bishi with designs and engineer- Ch. Light Ing information and with ma- terial and process specifications for the manufacture of aviation open-cycle gas turbines, Mr D. E. Akins, vice-president of Westinghouse International said,
non-
He added that the agreement. was the second which Westing- house Internailonal had signed 2.7000 with this Japanese concern. The 2.3032 Arst. signed In 1938, covered 2,7845
steam turbines for Industrial and 2.2006 1.7090 marine applications, host 14015 changers and reduction gears--
China Mail Special.
EX-
THE MAN WITH THE
GOLDEN
TOUCH
IS SO OPTIMISTIC
By Alexander Thomson
Now York, (By Airmail).
Mr Albert J. Hottinger, Jr., who will bo 70 next birthday, puffed his Sherlock Holmos style pipe and told ma: "To all intents and purposes, the rocossion in Amorican business is now over. "I believe that by the end of the year our upward trend will have carried
us to levels approaching previous all time peaks.",
Electric
33 3714
1000 k 9736
3000 T
200 6 37 500 JT 1012 # 3615 3000 «* 361) 2000 ** 36
103 30%
2000 40 331 2000 37 1000 6 271%
313
1500
2003 4300 @ 37
10003014
200 # 37 1500 30 32906037
35 3812 2040 381
Telephong
43 45%
G.I. Cement
M
Dairy Farm 37
40
Walzen
Allles! inv.
Textilg
Nanyang
12.39
0.40 032
1500 v6 304S
1700 + 3015 2000 » BV toon be an
200 4535 1000 1440 2000 43
100 47 44 120001 1000 $514 200 451 100453 1200 ke 4514 1500 0735
100 g 1000 715
نمیدم
500 6735 7003934 0200 9 40
203 40 1030 3315
1000 IN BIG 2000 # 2300014 Amal. Rub. 7.13 2.40 10000 × 720 Rub. Trust 830 0.00 1000 8
2000 681 flurpphreys 20.70 20.00 1000 200 Really ... 2.00 2.023 10000 # 2.35
Int'l Invest.
Gimon H.K. & F.E
Invest. Wheat...
13000 * 2.55 10000 2.033 €2000 2.00 14.90 1100 je 14.00 2000 se 14,00
30
C
1000 12 110 4,83, JIV00 ja 4.00
10.70
泉植
Fully Paid
מסותנו
Peak Tram
Partly Paid
ID
24,00
level Lane, Craw. 4714
and
Blar Ferry Коре Hottingen a big-built · man | ship and ended up as a professor a socially unacceptable with fine silver hair, Is no at Harvard. Thirty-five years which society abhorred
Cold, Macg.
(Ord) ordinary gazer Into economic ego ho came into Wall Street politicians feared.
Xwong Bhand made crystals. He is a partner in the and quickly
Hon a fortune This carries a warning for us famous banking sum of Lazard į only to lose it, so it is sid, in at home, Americans are going Entertain Frores and Co., and one of the the 1020 crasli.
to have to produce a lot more more prominent figures in Well
and sell a lot more overgens, Street's big money arena.
Ho is also head of the Lazard · Fund Inc., a 128 million dollar
investment trust.
OFTEN RIGHT
EXCITING
100.
What of the doll:r's position i stability and expansion can- by not go aleng hand in hand?
NOW he is reckoned to be A multi-millionaire egain judiciously backing his own hunches,
CAUTIOUS
6] DON'T think we shall get a religious devotion to saving
If Hettinger's short-tenn So his views here command reviews on the American economy spect. Not only because they aro’bullish his arguments for are forceful, but also for the the long term are positively ex- a gold doer which no ene has rasota that he is very often citing.
soen unless he is midalo aged," right.
His favourite theme is that Hettinger declared. He added: "I have offered to an employment standard is And the stock market? "For bet my friends thet in some taking the place et the gold the moment I am inclined to be indetermirate' month, during the standard. as the keynate ut a little cautious," he said. first half of next year the Fed-economic policies.
"First quarter earnings freni ral Reserve Index of Industrial "In the 1930's."
ho raid, most of our companies will be production will touch 113," Few ero were 8,000,000 new lower, and the ozcond qurster's Wall Streetpra of such standing entrants to the American labour will also be behind last year. cre prepared to speak, out as force We did not obṛorb them) But if burbera In decronitza- boldly as that.
all. Our rate of growth wap tani lively better when they And Hottinger warned: "I slow. During the period 1988 annoimeed, they will be looked have lived long enough to know to 1950 it was erdy, 10 per cent. upon with mory charity." that I may be wrong."
In contrast Britsin achievod But consider what his fore-20 per cent. 1folland 39 par cast would mean. Ai ito. I cont, Italy 58 per esat. France peak, the index reached 119, 50 per cent, Westam Gernaty It is now rushing on 102. 03 per cent auk Jepan 100 per And many reckon it may
go cont. below 169 before the furn
-Pom P
Albert Titinger has tad n remarimble career. 11o started
as an antineoring mecharte
ni
a. California fruit connery,
AL
ENDPIECE,
are
01-
After meethu Mr Albert inger, the professor who found the golden touch, I Junched et tho. New York Stock Exchange. Hingeing the present desado In the cluti robima opą emblem the Inerraan? în thà U.S.A.'s ¦ în overywhere. A Bull. knock- labour foren will be 13,050,- | Ing: down a bear. It is.dven on DDR. No' we have got to get | Why #times and crockery, they
alay have a wartime heller
The allegrin1⁄4VE, be polated algn, but now it points to the 22 he won a matværelty sobolar-out, would ing, uranployment all behi
40
510
and Now York at £35 8s-trave been announced here by the Flying Tiger Line, an American company specialis- ing in group travel. U.S. examiner on
PAL
Tho
application
13
The new rate-almost 50 per cent cheaper than any previous- offered--becames available immediately but only for parties of 118 aling a Super Constella- tion, the airline added,
Washington, Apr. 3.
Philippine Airlines
Travellers in smaller groups (PAL). would be parmit will be charged proportionately tod to fly between Manila | kigher rates, and San Francisco by way
of Honolulu but not by rates introduced in view of the
way of Tokyo under a recommendation of a U.S. Civil Aeronautics Board examiner
made public here today. The Philippine Airline has tried for years to receive per- miastun to fly from Mani to
Carmon,
The airilne said that its new relaxation of dollar control in mest West European countrka the United States could put
large reach of a well within number of European tourists from whom in the past it has bcon unattainable en rounds of costs.
San Francisco by way of Tokyo. Similar cheap fights can be But the Civil Aeronautics arranged from other suitable Board examiner, Me John A. alporis in the United Kingdom
in his recommenda- and the Irish republic' and at tion said that although PAL the
from Paris, same price claimed a route through Tokyo Brussels or Amsterdam. as a reciprocal right, no United
Buch group flights must come States air corrier was permitted under United Statca Civil San Francisco-Tokyo-Manlis | Acronsutio Board regulations route, and therefore reciprocity be armuged with organisations did not at the present time war- whose purpose is not primarily Tant require the inclusion of one of securing cheap
travel Tokyo.
taollities. Travellers must have The examiner said that PAL belonged to such an organisa- did not need a Teikyo stop to tion for at least six months. justify the operation of its Professional societies, social, trans-Pacific scivice. He noted recreational and fraternity that the Tokyo-U.S. route clubs, pupils from one school already was derved by five air- or even of one particular lines and to give PAL a Tokyo church quality for this purpose, service would divert at least 30 Members of дта accepted million in the first year from organisation may take their revenue of U.S. air cariera ser- familles with them. -- China
Mail Special.
ving Tokyo,
Mr Cannon's suggestions for the PAL retvice through .Honolulu must be approved by the CAB itself. The Board's ro commendation must be further approved by President Kennedy before it could take effect.
From 1950 until March 1059, the Philippine Airline operated a Manila-San Francisco route through Guam and Honolulu. It suspended alt international operations except service to Hongkong, then, because of the Philippine government's econo my moves, The Philippine gov- ernment terininalect the US- Philippine air agreement in 1050. But PAL is now seeking a Manila-San Francisco
new
route-Router.
Moscow-Kabul
air service
Australian tanker runs trials
Tho. Blythswood Shipbuilding Co. Ltd., of Glasgow, hold trials recently of tho biggest oil tanker they have built. She is the turbine-driven vossol Hamilton Sleigh, of 27,500 tons deadweight, for H. C. Sleigh Ltd., of Melbourne.
The vessel la powered by steam turbine
machinery sup piled by David Rowan and Co. Lid,, of Glasgow, double reduc- tion geared turbines driving a single
developing screw and Moscow, Apr. 3. about 12,750 shaft horse power, An Ilyushin 10. turboprop The vessel has accommodation airliner mndo the first fight to- of a high standard both in the day from Moscow to Kabul, crew's quarters and the owners opening regular Soviel flight sulte, Polished timber and BETVICE between tho two plastic bulicheads are extensive-
capitais, Tass reported today by used, mechanical ventilation UPL
and air-conditioning supply, sli living rooms and there is a swimming pool on the boat deci aft.
Exchange rates
The vessel, bullt to the ord of the Singapore Navigation Co. Ladi, is 016 feet long between 5.030 ́ perpendiculars and has 30 ̊moin. 19.03 cargo tankes. Three steam turbo- 18.74
Huntess was stone in the local unpificial
exchatige market this morning at the following rates; U.S. doller (per $1) Sterling noter spor £1) ... Australian notes (pec 1)..... Indonesian Rupiah per 1001 ..
Blant 'ticals (per 100) Singapore (Straits
driven cargo oil pumpa 'can cach 20.70 discharge 1,000 tons per holif.,
1.01
*--
Northwen Orient Airlines (and the Boeing. Altplane Company) kavo announced that Northwest Airlines has orderns nfs: #toring *20+2 (In picturn) mėnium: 301 airliners, for do. ilvery beginning la Jano, 1651. The airline has an opilen to putabana en naditional six ot the Cami, advanced model of the Boring medium-rängo plano, said Tonald W. NEOP, NWA
·Brevident, Dost of the Iniljat six jais, ingalber with hiscessary, spare parts, fotate 030,178.- 000. dr Nycom said. Northwod now in Nging long-range DCIRO Jel' aliliang perem : the Face and trautatietylly estos she Uni{ed'ŘIKIAK.