/ Page 2
THE CHINA MAIL, THURSDAY, JUNE 1, 1961.
New York stocks show HONGKONG
small
gain
Now York, May 31. Selective buying kept the stock market narrowly on the plus side today but heavy profit-taking among electronics, vonding and savings and loan issues gave the list a ragged look.
World rice
Accumulated orders over four days uf innetivity boosted volume sharply
above
Friday.
International
Jas!
Business
trade sets atachines spared in the neight-
post-war
record
London, May 31.
bourhood of 10 points, Zenith gained around four. Reliance Manufacturing, American Cy- unami. and National around three or narc.
Lead
American Telephone, Wool- worth and Texaco helped keep the Dow-Jones, industrini aver- Du Pont, General Electric and Eastman Kodak were soft spots. General Motors did little in an casier car group.
The international trade inge on a fairly even reel while
rice outside of Chinese shipments to the Soviet Union reached a post-war peak of 5.0 million tons in 1960, the Commonwealth Economic Committee 10- ported today.
Dow Jones closing averages
144.01 of 0.30 112.77 or 0.53 ...... 231.72 of 0.20; MOST ACTIVE
an Industrials.. 6980 up 0.32
20 Rails... 75 Utilities that 05 Stock vdded The committee "exports to for reported in 1901 show sutne upward tendency, f franz Thailand: consi;mments
being large,"
and
net changes
Ten most active stocks traded |
today, sales. on the Exchange closings respectively;
75,200 Amer Cynnamid 484 up 3%.
57,100 Tex G. Sulphur 2571⁄2 up
51,800 Con Motors 445A DIY
48,000 Gen Tel and El 27% G015 GT
was that Another highlight the final estimate of production in India in 1960-61 was about 49.6 million tons, more than 4 than in million tons greater 1959-60.
Burma, the report said. "re-1. mained the largest exporter, i
top: shipping?
1.3 inition though this was less than s put-war peak in 1956.
Brunswick
47.800
45.800 A J. Indust 5 up 4. 30.100 Sperry Rand 31% off
The shipment of rice from China to Ceylon under the rubber-rice agreement of the two nations. It said, will Burmese rice In 1901.
21.
be
EXT
Consignment from Thalland, the report adds, was 1.2 million tons and mate that nation the 2
35,000 Std Of NJ 40% up 31,000 Tex Gulf Prod 43 up
second largest exparter, Tas 20,700 Gen Electric
Caited
largest
States was
the third 1%.
$434 01
exporter outalde af Standard and Poors closing.
China shipping
tona Index:
370,000 while both South Vietnam and Cambodia increase!
425 Industriais
their ex-
23 Rails 50 Utilities
ports to more than 300,000 tons. -UPI.
World rubber
New York, May 31, Rex rubber futures today closed five to 11 points higher with sales of 19 contracts: Terminal trading was hardly broad enough 10
develop particular feature, apart from the steadier undertone.
In the shipment markel, Viet- nain reportedly sold one. RIBS
at
at 30 cents, June shipment, while one thin crepe was offered 32 cents, unsold.
Locally, current month was quoted 31% cents and spot 31 cents a pound, nomimu.
Commodity Research Bureau
500 Stocks
Closing prices
Alden Inc. Ary. Alued Chemicts Allis Chalmera American Airline American Met American Smelting American Tel & Tel American Tod.
Anaconda Cupper Armunir ******** Ally Cone. Mining Balwin-Lima-Ham.
Baltimore & Ohio Bendix Aviation Corp. Boeing Airplane
Bethlehem Steel
Cina. Brewere Canadian Pacino Case (J. Li Co. Chryster Motors Commercial Credit
Coastated Fation Cranic Co. Cuban Amer. Sugar Dupont de Nemours
Extern Air Line Eastman Kodak
Ford Motor
General Electric
Gerem! Foods
General Motorn
Getty Oil
Goodrich (, Fj
Goodyear Tyre
Gulf Oil
today commented: "The localiomestake Mining Co
rubber trade is showing creasing concern
In-
Int'l Businern Machines Dil Harvester
over recent International Nickel
developments in synthetic rub-International Paper
ber technology although con- siderable time my clapse bc-
fore production of some w types of chemical
rubber be-
70.46 38.03
pb.35 66.55!
Apprentice of the year
Australian apprentics of the year, Frank Argus, examines
a ship's boiler at the boilermaking plant at Renfrew where he is spending part of his two-week niny in Scotland. Frank, a third-year apprentice with the Electrielty Trust of South Australia, has spent three months touring engineering chops in north-east England and will be returning to Australa Khority.
SETBACKS ON CHINA MAINLAND
Britain-China
trade drops by almost a third
London, May 31.
STOCK
EXCHANGE
Dur Own Correspondent
Business done, at the Hong- kong Stock Exchange this marning amounted to approxi- mately $2,130,000. Noon quotations and the morning's transactions:
Bhares Layers Sellern HK Bank... 404
410
200
20 · 412
49 410
1546415
Jan. Reg.
Whert Co..
Talkan..... 71 7211
1100 72
21,20 BILL
2700 31.
500 or 10%
JUK Gas...
Wheelock
10.40 18.00
HK Duck.. 111 112
Provident
500 6 1816
4000 6 10
1001
300 121 200112
33 33 2500 33
TIK Hotel, 4536
1000
305031 10003
1500 53
500 or 452,
1000 43
Mike Land.. 73
12 400
1200
Ilta.
Yeturall
HK Tram
111 312
154
200 o 134
10
100 40
Ch. Light 362 37!
500 61 39%%%
100 3
GOD 37
100 37
1900
100 A 37
1000 £37
37 37
300 3735
500
37%
63
3001
# 52
GG
1000
CS
307 Forn 30th
500
385
400
30
600
30%
500 331
Flectric
Telephone G.I. Cement Dairy
1000 or 3014
12.30 1000 ga 12.10.
8.30
Watson
40
Allied Invest. Textile Nonyang
14 11.30
600 14,10 4000 1400
T
Rubber T
A. Bubber.
015 6.79
City Bute!.
7.90 J4
7.05
Britain's trade with China, reflecting the
economic setbacks on the China main- land, has dropped by almost a third during the first quarter of this year. The Intest figures for this In January of this year, the reports, the year, compiled by the China China Association
from 4734 Association
customs £2 million worth of goods im-
Brilain figures, show that during theported by
included worth of silver: for first three months of this year £700,000
it was £1.4 million 201 the overall trade volume be- February
40
10
33
13
46
40
1125
4402
1
61 17% pared to £18.03 million for the
Arst quarter last year,
2001
27
1083
fically K.M.L.
Lano,
Craw.
Gumna.....
·2033
100 34
500 14
2.07 2.675 18000 32.675
0.08
Поре....... 20.10
2025
100 7815
DUO 19
230 14 1716
140 of 72%
40 27 250 69 77k
40 77 500 57515% 2006 91
5.75 1000 và 1,1
Humphreys 23.60 25.00 Star Ferry 230 240 Int'l Invest.
1.K. & F.E
Invest. Macno Elec. 14
Hongkew... Langkat
1314
28
0000 of 3.10
2000 up 3.10
000 LS 23.10
New York
sugar
Now York, May 31. World No. 8 sugar futures today closed unchanged to one point lower with sales of 47 contracts. Domestic No. 7 sugar closed unchanged to five points lower with sales of 82 contracts.
tween the two countries was worth of sliver out of a total roughly £12.17 million com- Import worth £3.6 million.
For March silver bullion Activity in both markets was accounted for 40 per cent of the rather mixed as traders apprais- total imports by Britain fromed the situation In raws. China-£002,000 out of a total
£22 milion,
British experts to the China 84% mainland for the first quarter 3 of this year were less than half £4.40 million compared to £9.78 million pounds or what they were for the same period
7032
4415
2012
-
41 last year.
3232 For imports into the British Isles the drop was from £8.25
נדינ
came
323
531 million for the first quarter of
1900 to £7.70 million,
101 Tel & To
Ich-Manville Co. Kerncett Copper Litton Ind.
Lockheed Aircraft
comes large enough to constitute Lone Star
Loews Incoment a threat to the natural produel, Minnesota Mining
with a slight | Mission Development In Singapore, improvement in London and Montgomery Ward
National Cash Reg. "A" lower pan-Malayan stock figure | National Lead the market opened higher steadied further on good interest
and Que Elevators
for lower sheets, remills Brid shortcovering.
Preife Gar & Eleo.
Pan American Airway. Poramount Pictures Pittsburgh Plate Cl
The tone was fentureless quici | Radio Coronation
in the afternoon with a ten-
Republie flieel Reynolds Metal
deney to steady latterly on Heynolds Tobacco Chinese trade buying.
Shell On Co.
Lowers continued in fair de- Sinator Oli mand.-UFI,
UNIT TRUSTS
First Hongkong Fund: $1.32
(buyer), $1.40 (seller).
Second Hongkong Fund: cents (buyer), $1.05 (seller).
A AMERICAN
STOCKS & COMMODITIES
WHEN
SELL
TECHNICAL
WHEN
ONY
ANALYSIS
On Stock Trends
Research Dept. PERENNIAL TRADING CORP.
010-818 KANburgh. Thousa
Toner Kont Tel: Rists, mÚGA
World futures reflected the softer tone in raws. Brazil re- 20,000 tons source reports, how. portedly will offer
for sale in the world ever, that the picture is not Tawa "entirely black" as
market on the 6th for delivery
The
far
5
British trade with the China August 15-September 15. mainland is concerned.
Dealers also awaited word on
way trade volume
tons each of raw and refined
Britab last year had two-Pakistan inquiry for 25,000 of roughis sugar. Reports were that east- £56 million with China making em European countries offered !retined to Pakistan at levels
5012 FOREIGN EXCHANGE it the second to West Gonnnny
:
the
Western
7119
The plain fact is," one highly among
rations well below raw sugar prices.-- sald, 123% informed Source
"that trading with the China main- UPI. China seems to have run out of land. foreign exchange with which to buy goods--especially because of its huge grain purchases from Canada and Australia."
247%
63
I
This is a 28 per cent increase volume of over the two-way trade in 1959. And, the source Britain's imports from China adds, this came when indications
julied to a sharp drop
Exchange rates
Aushean was done In the local unofficial
market exchange
this
for the first quarter of this year, china's overall trade, including morning at the following rates 47 for example, would have shown that with the Soviet Unien
Од
in
701
11%
US dollar (per 81)
6.747
74
an even greater decrease except
7115
for
the fact
6513
Sterling notes (per £1) that £3 millon which is reflected in the Soviet-Australian notes (per ci) worth of British Imports was Chinese trade agreement signed Indonesian rupiah per 100) made up of refined sliver.
last April-UPI.
25.94
12,05
3.40
Slam ical (per 100)
25.00
Singapore (Stratis)
1.01
11
4212
Hoenny Movil Qu
473%
Southern Railway (Com.)
Standard Brandë
GOT
Standard Cll of Cal.
PRICES
Standard On of Ind.
9lendard Olf of NJ.
Siring Drug Co.
Rosely-Van Camp.
| SiggleEaker-Packard Cory.
99
Awift & Ca
43xd
Texas Co
1072%
inion Carbide
1421
Union Pacific Hallway
United Aircraft
45TL
10141
00%
U.S. Smelling
UB. Steer
Warner Bros.
Westinghouse Electric
all in cents per ib.
Woolworth K. W
0114
REX Standard
UPI.
July
31.00
30.03
Sept
30.40
30,30
Nav.
30.20
30.20
Jari.
30.10
20.03
Mar
39.00
May
30.03
16.;
ILS. GyrsuZTI
15. Rubber
Indonesia buys
textiles
2011
Mexico City, May 31.
Chamber
COMMODITY
RUBBER
NEW YORK
Rubber futures closing prices,
SINGAPORE
Russian market must not be ignored, says this top businessman
(Russia is anxious to trade. Here Alexander Thomson talks to d lop British bulldesiman, who has found that Russia is not a market to be ignored.)
By Alexander Thomson
London, May 31,
Mr Avison Wormald sipped a lunch-time glass of shorry in his West End office after breakfasting in Moscow. He had just flown in by Russian jot "three and a half hours in the air"
after a week at the British Trade Fair.
"The business world gets smaller and smaller," he said looking unhurried.
and elegant in a blue chalkstripe suit and brown suede shoes.
LONDON
MARKET
DROPS
London, May 31. The Stock Exchange was in a possimistic mood today and there were oxtensive prico declines among in- dustrials. Selling pressure was light, but the market was almost entirely lack ing in investor support. The atmosphere of gloom was attributed to new company reports which showed falling profit margins, and was deepen- ed by continuing
worry over the United Kingdom balance of payments position in inter- national trade.
British
bonds, government however, took a turn for the better. Gold mining shares also were firm.
Olls were dull,—AP.
Closing prices
British Government Becurilles 25%; Consolidated-£41-7/10. Consolidated-55-9/16.
3
3. Savings 1035/6392-5. 3. Savings 1980/70-£}D.
Savings 1965/75-71-13/10.
Overseas Bonda
5%, German (Dawes)-RAH!'. 5. Japanese. Assented-158.
Banks da Insurance
Barclays Ord-883 0d. Chartered Bank-01 3d. Guardian Assurance-107x 95. Hongkong Bank-£10. Lloyds Bank-is Od. Lombard Banking Ord-20s 1%d. National & Grindleys-30s. Prudential Assur, “A”-E 29-9/10, Royal Insurance
Ord.-1715 Ja,
British Petroleum-800. Burmah 0-40 0. Shell Transport Ord-128 3d. Royal Dutch-13-3/10. Ultramar Company-338 1011⁄2d
steels Engineering Babcock & Wilcox Ordis 100. Dorman, Long-3de Jd. Guest, Keen Ord-07
Harland & Wolf Ord-15 gd, Stewarts de Lloyds Ord-81s od. Tube Investments 73 Dd. United Steel--038 34. Vickers Ord-30s 440.
Electric
Fee. d. Elec. & Mus. Industries-45a Engllan Electric Ord-Hs #d. General, Electric Ord-301. Phlips Lamp Works-£11-15/31.
420. Redifusion
Assoc, Portland Cement-009 244. Boardman Marden Ord-76. Borax (Holding)-1 34. Dunlop Rubber Ord-20x Bd. Flsons Ord-31 4.
Gilman (Holdings) "Ords 11⁄2d. International Computers-001. Turner & Newall Drd.-69 7514, Unilever Ord-140_10154. Wizgina Tespo Ord-001.
Chemicals
Imperial Chemical Ord-101 00. Monsanto Chemicals Ord-228 3d.
Cinemas & Television
Moss Empires Ord-13s 100. Hank Organisation Ord-dik #140. Stol Theatrex--10% $194.
Paper
Bowater Paper Ord-02 pd,
De La Rue Ord-07.
Dd.
Spleets Ord-52801
British-Amer. Tob. Ord-70% BJ, Carreras Orde 90. Imperial Tobrero Ordi. Od.
Alotors
General markets, alf. basis, potta: June
May
24.03
25-253
July
24.00
34.
Mixed Contract
July
Extate crepe
May
thin June
July
Elck June
Det.
LUPI
Dec.
Mar.
May
July
COTTON
NEW YORK
Closing prices all in cents per
Spot Closing prices all in Strait; ċents per b. fo.b. Malayan
ports: No. 1 ot June
July
The Textile Mexico sald today rulonesla hes No. 3 June become one of the principal put-Na. 5 June chasore of fabric produced in | No. 4 June Mexican mille.
Spot rubber unbajed metres Blanket crepa
Nourly
22,000,000
of Mexican-made textiles have! No. 1 pale crepe......
been ordered by the oriental
LONDON
July
Oct
Der.
Mar.
MAY
19
July
1344-883 07-0731 wriquoted
72-74 03-94
Oct,
Closing prices all in pence per
country for delivery this year, | 15.7.)
the Chamber reported.
No. 1 fimm spot .......... 20-20}|
In addition, Indonesia has or- Bottlerent" house termot dered about 3.3 million pounds | July/Bapti [of threat, of which 75 per cint/Dec. |[han_been shipped, it added. --
UPI.
Jati/Mar.
Apr/June July/Dept.
BAO PAULD
METALS
NEW YORK
Brillan Motor Ord-108 415d. Hawker Siddley Ordals. Jaguar Cars Drd-101, 3d, Rolls-Boyes Ordudiy ↑ Westland Aircraftmia 714d.
Textiles
Bradford Dyer-17 90.
Cellco Proilers' Ord-14 30. Conte (JP) Paton & Baldwin-
Courtaulds Ord-41a 150,
Fine Uptoneta Ord-278.
Lonconhite Cotton Ordila od.
Breweries
Dilters Co. Ord-386 quintiem (Arulur ord
Ind Coope Ord-e 140.
Storea
1014.
Great Universal Ord-2
Great Universal "A" Ord-684 91, House of Fraser
9d.
Lyons (JĮ "A" Ord- 94, Marks&Spencer "A"
Wormald 40, la managing! "Agricultural business thio director of the £40 million | year has not been good", War- Fisons group
of fortiliser and mald sold. "There has boen a chemical companies,
Inck of buoyancy in farming."
As fertilisera account for 15 He is the only top business- per cent of the group's turnover, man I knew in Britain who here is a warning of tower pro Epeaks Russion well. Hefits. But 11 per cent dividend started learning it at 18.
is certainly cafe.
And next year? "Some sides "Even in those days", he of the business are likely to be explained, "1 had a feeling that į very much better", he forecast.
Bucela was going to be a place "Our chemical business", de- of Importance."
clared Avison Wormaid, " What ol trade prospects capable of such expansion par- there? I asked. "Very good" he ticularly oversens, that it will ba said, "The Soviet Union is diMcult to decide in the next already an advanced country, | few years which should have the It is on the way to becoming higher priority" very advanced,
I sai up at that remark, For That will crente a demand quite clearly Fisons is not only for all kinds of specialised | intent to help in making things It is not grow. It is still enter to grow
itself.
Fisons
goods and services. a market to be morte."
has been cultivating Russian market years. Wormald regularly.
the
for some visits Moscow
WON CONTRACT
Earlier this year he won for the group a £2,500,009 contract | 10 supply a weed-killer and textile-processing plant for the Russians,
"Now they are pressing us to bulld a second weed-killer inc- The problem tory!" he told me, of weeds in virgin lands #4 serious."
While in Moscow Wormald talked with Mr Khrushchev, Mr Mikoyan and a large number of business leaders,
How does ho And the busi- nessmen? "Much more
CopTM
ndent, They have got out of their defensive attitude which makes things easier,
"The whole system is also a lot less rigid
At one
time it took you a year to do anything there. Now you can get quick decisions."
How about the efficiency of Russian businem? "Under Mr Khrushchev's polley of de- centralisation it has facressed beyond all recognition."
-London Exprass Service).
'More than
million
trans-Atlantic
seats in 1966'
British
London, May 31.
Overscus
Airways Corporation would pro- vido more than a million trans-Atlantic scats in 1966-67, Mr Basil Smäll- pioca, managing director of the state-owned airline, told the Air Transport Licensing Board hero.
תח
B.O.A.C., at present the only British airline allowed to run How about two-way trade? services to North America, to "The Russians have made it opposing
application by clear that they can only buy Cunard Eagle Airways--- from Britain we buy. from wholly-owned subsidiary of the them."
Cunard Steamship Company for leenses to run Boeing 707 jet services between Britain and We switched our talk to North America. Fisons
overall trading. Its financial year ends on June 30. Mr Smallpleed claimed his The results are due in October,
NOT GOOD
Council
studies
sugar prices
estimate was two-and-a-quarter {fimes greater than the number TO.A.C. lotended carrying in 1001-62. If the future British. share of the market had been upler-estimated, the Corpora- tion would still be Able to provide air transport for more
passengers, he added. Passenger trame reutes-U.S./U.S. (east coast), U.K./Canada and UK/US. (mid-west} was expected to double in the five years ending. 1907 from 641,300 to 1,340,800, he said.
on
three
Countries other than the United States had been granted rights to take air traffic through the United Kingdom and others, London, May 31. including the United Arab Re Tho International
"lining up in the Sugar public, were Council has decided to queue."
supplement its carilor Next year,
he went om,
decision on the fixing of B.O.A.C. would be able to carry
a "yardstick" price for the whole of the British share of
the sugar agreement bo-traffic on these routes,
cause of thoTM risk of widu
differences occurring bo-
tween the New York spot
D
REVENUE DIVERTED
He recalled Cunard-Eagle had
of the routes
price and the London said they were not out to take daily price of the come the Corporation's traffe, or to
take the cream modity, communique which B.O.A.C. had built up- showed today.
but, he maintained, it the Beenser were granted this would The meeting made no change happen.
Ord-export quata after it had Mc Smallpiece Aufd tho considered the statistical post-Corporation. submitted tho tion of sugar, and found supplies whole
Tate & Lyla Ord-40% Get. Unlin Drapery. Ord-TUS. Woolworth (W) Ord.---58% 134d.
BiscoitanoUA
Bowmaker Ord-tie.
Canadian Pacife Ord-$49%. Cunard Steamship Ord-100 1351.
Land & Timber-13.
† & China Gas 350.
Hudson Bay Co—C1914. Indo-China Det. Ord d Land Securities Ord-344 $d. P.. team Nav. Del-ils.
3434 nam
24.08
Closing prices all in cents per 3b.:
34.32
NEW YORK
Lend July
10,20
Sept
10.40
Zine
July
11.20
Copper July
Sept
31.70
Sept
1.29
3d,
(Closing prices all in cruzeiro per kilo).
Average privo, in VA at 14. de signated spoi markets; 31.04 canta
Total Baten: 8,007 Dálon.
LIVERPOOL
LONDON Afternoon Besalon
Closing prices, all in sterling per long ton,
Closing prices all in pence per Tin spot
2-month
b.
American Contrací
spot
3-ingath
May
$1.00
Lead prot
July
24.00
3-month
Oct.
261-26:
1200,
24.50
Mar
Zlue Bont Bemanti
buyers sellers
odby
Bio
De fleer wilne
London Tin Corp—17% 1148. - Mount Iss-534.
Pelling Taj-ži d
Rhodesian Anglo-Amer.
Ord-0%
" Tinte (Dexter)-406 7000, Hoan Antelope Coppende ud. Union Corporation—bia 34, Welkom Gold Mining-14 Western Baldingemilia 30.
3d,
Ang Indonesian -Pant-10. Ceylon Tea Orch-210 id, Imperial Twa Ord=104. Kuala Lumpur-Kepong-d9 84. Lambak Hub>D#m--" "ka.
of the revenue -01
and requirements in balalike for | Cunard - Eagle would he 1901.
diverted from B.O.AC., becauso,
the
1.
the Corporation was already The Council studied the committed to capacity for carry- marked discreparicies betweening the whole of the British New York and London trame. He cetimated Curiard- prices over the past 11 market Eagle's gross revenue in a year
showed days and this
10 £5,500,000. GOYED
Į points différence
for
1
Questioned about the amount {tioys and difference, of 12 and of capital HOAC. would beVO 15 points for two other daya of tied up on the routes which that period, it was stated, were the subject of Cunard- Engio's application, Mr Small- plece sald capital at risk would
The Council estimated froo market net import requirements be about £80 million. for 1001 at 8,310,000," "Tho D
Menely to repay the, Govern= remement last · Fobrimry, was ment interest on loans, 8.0.A.C. 0,020,000 in and the inervasi |would; hard to pay about £3 was mnly due to revised lips liminion from them roules next. port needs for Busin and year, he added. China, the communique said.- The hearing was adjourned,
-Cons" Mail" powojai.
-Bruter.
UPI.