Page Z
Britain, Russia
extend quota agreement
Russio
THE CHINA MAIL, TUESDAY, JUNE 6, 1961.
Wall Street stocks LONDON
New York, June 5.
Stocks closed higher on stopped-up activity today, as Wall Street examined reports from Vienna and apparently found little in the way of bad news.
Moscow, June 5. and Britain have agrned that the quotas for consumar goods, machinery equipment and other goods established in accordance with the five- year trade agreement for the period July 1, 1960 to June 30, 1961, should be extended
December to 31, 1961. They have that the
also agreed
individual quotas should
be increased
cont.
by 50 per-
In a communique issued here
|
་
The Dow-Jones Industrial Of a total 1,200 issues traded, average neoyed a hetivy rain 800 were higher and 403 lower. retocting strength in Du Pont and Woolworth, up close to four eneh, Allled Chemleal, Jolisis Manville and American Tele- phone.
American 'exchange volume was 1,000,000 shares
Bond volume nmounted $3,050,000
increase
American Metal American Smelting American Tol & Tel American Tob
Anaconda Copper
Armour
Afins Corts. Mining Baltimore & Ohlə Nethlehem Steel
to Canadian Pacife I.
Chrysler Motors Commercial. Credit Consolidated Falcon Crane Co. .... Eastman Kodak Ford Motor General Electric Geners! Foods General Motor Getty Ol
Dow Jones closing averages: 30 Industrial.. 703.43 up 5.73 20 Rads........... 144.12 up 0.32 15 Ulles... 140.87 up 0.80 85 Stocks .... 233.27 up 1.68 Ten most active stocks.traded
I ་་
Point or more gains were well spread throughout the list DS activity reached around half million shares above last Friday's pnce.
Some profit- taking appeared in the closing minutes, however, With many
Anything Orlow their on the Exchange today, sales, histles,
closinta and Hot respectively:
J
of the talks
two
countries ta
on the conclusion
between
review
the trade agreement,
the Soviet delegation expressea the view that one the most further Important means of
pending Anglo-Soviet trade would be by an Increase of imports into the U.K. of Soviet products, including oil and oli proxlicts
TRADE RISE
The two deletations examined the size and composition of the trade between the two cutiFR- tries and noted with satisfac- for that there had been an in- ercam in trade both ways since the Jost revlasy. They noted also that there was still scope for expansion.
year 1082
They agreed that the quotan for the calendar should be settled at discussions in London, to be hekt in Octo- ber or November, Both sides
negotiators would be instructed to an at an increase in quolas and the addition of new items.
Chim Mail Speelt,
change
197,400 Am Viscose 01- up
10508.
Zenith was a staridout in electronic, souring around points, followed closely by IBM. Texas Instruments wis a weak spot, fating around five, ເຍ
Avnet, Standard Kollsman and Minneapolis Honeywell were well en high ground,
American Viscose moved
U
75,500 Avco 20 up one. 50,000 Philco Corp 23% up 31,200 Sperry Hand 30% un- changed.
30,700 General Motors ·45% aff 14.
29,500 Beth Steel 40% off %. 29,400 General Electric 071%
a handful of points on reports would coon market a new food up M.
10 up
additive, Interstate Department 20,000 Westinghouse Electric Stores and Poleroid hddr44 up . around four, National Steel, Sin- 28,600 Curn Products ger and Amerace around three, 26. Con Edison. Wamer Brothers, Long
Islandi Lighting and American Tobacco around two points or so.
shares.
Today's volume was 4,150,000
Closing prices
Aklen Incil Aey.
Abled Carinicals
A Chalipers
Ainerican Airline
COMMODITY PRICES
COTTON
70
2314
abdyr Tyre
Int'l Buicers Machines Int'l Horvester
International Nickel
Loews IncOTP, C
National Lead
71Th New York Central
*110
Otis Xvators 214 Pacifle Gas & Elec. GOL 581
Pan Americry (Airways Paramcunt Pickren Pittsbunch Plate Glass 3416 Radio Corporation
Republie Ricel Reynolds Motal 43% Iteynolds TCRISEDO 447% Strelet 09
48
20
Secony Mobit Ou Standard Brands
107459dard Oil of Cal
my
131
to
014
Standard Oil of Ind
071
Sundard Oil of N.J.
Sterling Drug. Co.
431
Stokely.Van Camp
274
20
| Studebaker-Packard Corp.
41
Swift & Co
431
(0134 Co.
100
1415 Union Carbide
25 Unten Preife Natiway
14234
34
25
102
5012
5815 Unitect Aircraft
12015 U.S. Gypsum
int Tel & Tel.
Litton Ind.
Lockheed Aircraft
411
U., Rubber 20% 0.8. Smelting
.
Lone Star Cement Co.
047 0.9. Steel
Warner Bros
291%
Westinghouse: Electric
445
29
Woolworth (K. W.)
Del
Minnesota Mining
Mition Development Montgomery Ward Notional Caols Neg.
14472
RECORD COAL New York
PRODUCTION
London, June 5. 270 British coal miners vot a new productivity record last your to give the notion- alised coal industry on operating profit of some £20 million.
25-8347
No. 1 JA
No. 1 July
No. 2 June
No. 3 June
5414-03
No. June
Spat rubber unbaled
Blanket crepo
7534-7192
NEW YORK Closing prices all in per ib.:
No. 1 pale crepe
915-9216
cents
July
33.25
Oct.
Dec.
Mar.
May
.Oct.
SUGAR
NEW YORK
But the state-run enterprise which had to pay interest and other charges to the Ministry of Power silit ended up in the red by £20 million.
sugar market
New York, Juno 5. World No. 8 sugar futures today closed unchanged to six points lower with sales of 102 contracts.
DomesHe No. 7 nugar closed |
unchanged to one point higher with sales of DB contractu,
N.C.B. chairman
Liquidation and hedge selling Alfred Ro bens, one-tline member of the weighed on the local contract opposition Labour Party's with distant September drop- 'shadow cabinet'. gave these ping to a new low. facts on Friday and said in the current year he plans to cut the
defcit in half and move into the "all-elem" position by 1952. Average output of the men in the pits was 305 tons per man, Closing prices, all in cents per an increase of 3.6 per cent over 1950's rate. He said the Board's scientists Zwere planning to make gos from coal without colce being produced and it would make the gas as cheap as, any of that being imported.— UPI.
33.43
-UPI.
lb.:
Contract No. 7 (domestic)
July
Sept
Nov.
0.40 6.49 GAS
Mar.
031
July
0.31
Spotu, duty paid)
03
Tota! Sales: 01 contracts.
Lend July Sept Zine July Sept Cupper July
10.24
10.35
UPL
$1,20
11.31
31.40
Sept.
31.40
Oct.
Dec.
30.17
JAST
Mar.
20.89
May
July
-UPL
U.S. to issue more short-term bills
Washington, June 5.
The United States Treasury has anounced that it will bor- Tow $1,800 million in new cash by Issuing additional amounts
of short-term bills to a series of 18 issues of such bills already outstanding.
The auction of the entire $1,800 million in additional bils will be held on June 8.
Ofeials said the addition of a new series of bills to issues already outstanding was a new technique.
the In the past, Treasury had added to the supply of bills cutstanding by expanding the weekly soles at the regular Monday auctions.-- China Mail Speeint.
U.S. car output
L
Detroit, June 5. United States Car production this month is scheduled to fall slightly from the May Jevel alter climbing since February, Industry quotations estimated output in June at 533,000 cars, down slightly from the 542,303 turned cut in May and 13 per cent below the 613,100 built in June 1900.
May assembles represented the highest cufput this year, 21 cent above April's total. per though stil of 11 percent from a year earlier.China Mail Special.
METALS
NEW YORK
Closing prices all in cents per 15.3
NOTICE
of
MEETING
CHINA UNDERWRITERS LIFE & GENERAL INSURANCE CO., LTD.
NOTICE IS HEREBY GIVEN that the thirty-third annual ORDINARY GENERAL MEETING of China Under- writers Life & General Insur- ance Co., Ltd. will be held at the Head Office of the Com- pany, Third Floor, Gloucestor Building, Den Vooux Road Central, Hong Kong on Wed- nesday, the 21st June, 1961 at 12.30 p.m. to receive and con- older the Directors' Report and Statement of Accounts for the year ended 31st December, 1900, to elect Directors, to appoint Auditors, tu sanction Dividends and to transact any other business of an Ordinary General Meeting.
The Transfor Baokn of the Company will be closed froin the 14th June, 1961 to the 21st
Juno, 1901, inclusive.
By Order of the Board,
G. M. GENNOE,
Secretary.
Hong Kong, 29th May, 1901.
RUBBER
SINGAPORE
Closing prices cents
1b.
per
all in Straits fo.b. Malayan
poris:
4
Open Interest: 3,093 contracts.-
FORLIGA EXCHANGE
NEW YORK
Closing rates:
Canada
England official
Belgium
Deriniack
France
W. Germany Holland Gweden Switzerland
New contract
New York, June 5. The UJ.S. Rubber Company and the United Rubber Wor- kers Union have agreed on a new contract affecting some 25,000 employees in U.S. Rub-
Company plants in 301-11/32 states. It calls for a wage in- crease of 14% cents over the next two years for tyre plant
and 81⁄2 employees
Centa per
2.7912
.070013 .1445
2041
2520
.2765
.1940
2011
-UPI.
bor
11
MARKET
IMPROVES
London, Juna 5. The stock market was much
brighter today after ser backs suffered läst wook. Business, however, “remained small. Gains were fairly wide spread but not outstanding,
found
Industriais mostly made galna and tobacco shares were firm. Bome newspaper shares tupport. Property sideks were mixed.
and dollar
O held quietly steady. Cop- maintained quietly.
pers were
South African issues declined through tack of interest,AP.
Closing prices
British Government Becurillan 25 Consolidated £63-3/10, 3. Savings 1055/65-02-1/33.
Savings 1900/70-7813. Savings 1900/70-£712
Overseas Bunde Corman (Dave). dr. Japanese. Assented-isa.
Banks & Insurance
Barclays Ord--67% 30.
Chartered Bank-in Gd). Guardian Annutanco-)62 341. Hongkong Bank- Lloyds Bonk-72
Lombard Banking Ord.20 d. Prudential Assur. "A"- £23-1/10, Royal Rank of Canada-£27 Royal Insurance Ord.-164s Di
British Feiroleum-20 Burmah Oil 40s od. Shell Transport
3.
Ioyal Dutch-end-177 d.
Ulitomar Company-32
10.
Steels Engineering Babcock & Wilcox Ord---32 7140. Guest, Keen Ord-Dis. Harland & Wolf Ord-17% 3d. Steel Co, of Wales-$1* 0d. Stewarts & Lloyde Ord~50 PJ. Burnmore & Sons Ord-STA. Tube Investments-131 Du, United Steel-024 8d. Vickers Ord~37 1
Electric
ridi
Asauc. Elec. Industries-41 Eler. & Mur. Industries- 44 30. Engilah Electric Ord-3€ ( General Electric Ord-35. Philips Lamp Works11-13/31. Reitusion Ord-is d.
Dd.
best
The reaction was associated with the lower trend in raw,
business Plus London pressure of European sellers in world market.
Domestle futures trading was routine and without a new feature, dealers said.-UPI,
New York cotton
Now York, June 5. Cotton futures trading to- day quickened slightly in relation to the extremely slow pace followed last wook.
1
Prices ruled steady on mixed trade in the nearby
New months. continued 10 hour over the two years for credited to trade interests co-
neglected,
other plant agreement expires
cmployees. The on June 1. | 1963. China Mail Special.
A Bellish structural engineering company rooemily:exported this unaunt adopt åtenoture for supporting the cinema poreen of a third drive-fu, outdoor cinema 44 Folat: Förtih, Trini- dad. In: the Weak Indiew: The grocially jesigned shefitbek, in of fall, welded construction and arrangensentu vure made for the mlolum niboint at simple, víón bhiting" on Tueiiliate CAST CITUÍNEL. Bet an ankle 61 suvoiť degreed virtioni," kie ft-tön, stricture" "bonitats, GEN Tips, pech. 26 dess high with horizonje) steel channel members suptohjig sorow the, full width to support fin das arbustos moreen, which modalition 110 fich Wilo by 64 Tins deep, The complete, structure was designed to wisheiend wrinde of:up:19, 15 mile an hour:
crop deliveries
be
Some
relatively covering
featured with operations months.
in
trude switching
the
nearby
Leading spol Interests In- dicated a willingness to buy July and sell October round 85 points, also, buy July and sell December 130
points and buy July against sales March around 100 points, Open- ed up six to o 20 points-- UPI.
U.S. steel prices reduced again
Pittsburgh, Juna 5.
#
US steel prices have been reduced for the
second time this year on n major class of products. United States
Steel
and Republic Steel liave, in effect, cut priots of cll-country pipe sold to jobbers by abouí four
percent by Increasing standard discounts.
Shipments of steel of this kind accounted for 2.3 percent of total driveries of the entire steel industry In March
Earlier this week. Allegheny, Lidlum Ste Corporation ro- duced prica by 2.5 to 5 precat on producin account!ris about half of all stainisma siera shipments -China 'Mali' Special.
UNIT TRUSTS
fer
$1.31
First Hongkong Fund: (buyers);; $1.39 (sellers). ***
Second Hongkong Fund: DO cents (buyers), $1.04 (sellors).
Metal market
Industrial
101d. 24.
Assoc. Portland Cement- Boardman Marden Ord. Borax folding)-10% 1jádj Dunlop Rubber Ord-265 7550. Fiona Ord-30s 3d.
Gilman (Holdings) Ord-Os 25. International Computers 031 d. Timer & Newall Ord.-70m 1340. Unliever Ord-1408, 6d. Wiggins Toape Ord-034.0d.
Chemicals
Imperiat Chemical Ord-7##_7!}ď. Monento Chemicals Ord-zza.
Cinemas Television Moa Empires Ord-lis 5d. Hank Organisation Ord. Stoll Theatres Bs 10%id.
Paper
Bowater Paper Dru-53 Bd. De La Rue Qech-G71.
TOBACCOM British-Amer. Tob. Ord-coa 93. Carreras "B" Ord-54. Oallaher Ord-451 d. Imperial Tobacco Ord-S7v.
Motors
British Motor Ord-its 1şd. Hawker Siddeley Ord-30# 4%. Jaguar Cars Ord-99% 4. Rolls-Royce Ord-415_fd. Westland Aircraft-106 21
Textiles Bradford Dyess'-17% &c. Calico Printers Ord-1 7. Coats (3P) Paton & Baldwins 40s
Courtaulde Ord—41w
Fine Spinner Ord-26 Git Lancashire Cotton Ord- 344.
Breweries
Distillers Co. Ord-30s Jd. Guinness (Arthur Ord-393, Ind Coopa Ord-14 155d.
Stores Grent Univerzal Ord-624 01, Great Universal "A" Ord-676 90. House of Fraser Grd-sdia Bd.
vons (J) "A" Ord-678. Marks
Ord-112%
3d.
Spencer A
Tote & Lyle Ord-499. Untied Drapery Ord-70s Gd Woolworth (F.W.)-Ord.—209 5«,
Miscellaneous
Bowmaker Ord=210d.
Canadian Paciile Ord $47. Cunard Steamship Ord-159 45d. Forestal Land & Timber-12a 10140. Hongkong & China Gas-18s.
Hudson Bay Co.-10.
Indo-China Def. Ord-231,
Semiritles Ord=338.
VANSPORTATI
Farnborough show
will include 100th flying programme
London, June 5.
The 1961 SBAC Flying Display and Exhibition, to be held at Farnborough dur- ing the first full week of September, will include the 100th flying programme to be staged by the Society since the first at Hendon in 1932.
The Army will be flying its own aircraft for the first time, The Exhibition building will be the largest ever erected, for an aeronautical display and the number of stands and exhibits will be larger than ever before.
ing their skill in Skeeter bell- will ba copters, parachutista talking part in the display for the fast time and a number of other interesting demonstra- tions will be staged.
The Royal Navy and Royal Only once in 1961-during Air Force bave agreed to take the course of 21 Displays staged part and while it is too early to by the Society, has a day'a fly-fist the Service aircraft con- ing programme been cancelled. cerned, it is clear that the latest That was because a powerful altcraft will be used and that gale sprang up which blew the wide range and variety of across the runway, So far, 86 fly-roles which the Services have. ing programmes have been to fulfi nowadays will be em- completed, a few of which were | phasised, restricted by bad weather.
The Exhibition building will While the Army has talcen be rebuilt this year to cover an part in the display in previous extra £,000 square feet, making ycars-crews have manned a total of 130,400 square feet. guided weapons and troops It will be the largest tented have flown in aircraft—this will | structure in the world used to be the first occasion on which house exhibits at an aeronauti- soldiers have flown their own cal show.-LPS. aircraft as individual contribu- tions to the programme. Army
Air Corps pilots will be show-
HONGKONG STOCK
EXCHANGE
Our Own Correspundunt
Business done at the Hong- kong Stock Exchange this morning amounted to approxi- mately
$3,200,000. Noon quotations and the morning's transactions:
Sbarcs
Buyers-B¤llers
--
Exles
* Bank.. 410 4:2 70 410
XD
783 0 410 2:00 412
HK Bank
Lon. Reg 308 310 Lombard
Whart
Taikoo Dock 7235
1200 191
7214
IKK as ... 21.43 2106
Wheelock JIK Duck
Provident..
HK Hotel.. K Lead..
400 y 21.40
Record flight
by helicopter
Taking off from Westland Heliport in London on May 30, a production twin onginod, tandem rotor Westland Bolvedoro holicopter, sorial No. XG.461, mudo a record flight—subject to official confirmation to the Paris Heliport in 1 hour 41 minutes 43 seconds.
Captain of the aircraft was Mr C. T. D. (Sox') Hosegood, Chief Test Pilot of the Bristol Helicopter Division of Westland Alteraft; second pilot was 'Mr D. F. Farquharson
and the aircraft carried a full load of personnel and' equipment,
A point of interest about tho night is that the civil version
"Belvedere of the
Mk. 2, n development of the "Belvedere,” is currently under considera- tion by British European Air- ways for rcheduled "passenger 2002140 helicopter services,
Incorporating a larger, designed centre fuselage, the. rivil version of the new machine can. with full equipment for I.F.R. operation and a crew of three, carry up to 23 passen- gets, and conforms fully to the Transport Category A helicopter 'engine-out requirements.
3500
15%
ITO #21.40 50002139
10 10.00 17000 15.00
120
3371
40
7314
121 SIDO + 111
34 1000 24
700 73%
400 to 733%
10074
00 40%
500 ur 234
KK Land
Rts
40
40
Yawnati
133
734
500 kn 134
Ch. Light..
50 18 134 39% 30% 1400 or 3919
1000 s2 391, 31 3716
P: Q. Steam Nav. Dot.-40s 115d. Trom
Mines
De Beers Del 1200 d.
Mount Isq5la Petaling T-11
3d. Rhodesian Anglo-Amer. Ord~674
Rio Tinto (Bearer)-35% 47LA. Mann Antelope Copper 51 08. Union Corporation=-498. Welkom Gold Mining-1 Western Holdings-Up öd. Rhokana 'Corp.--15% 33.
30.
West Rand Investment Trust-41s 34.
Itubber & Teas
Anglo Indonesian Plant.—ör. Cevion Tea Orduēts, -Imperia? Tea Ordelis 1011⁄2d.
Kuala · Lumpur-Kenong--ös öd. Lambak Rubber-83x Bd.
-Router.
Singapore
rubber
Electric
37 3712
Telephone..
D3 5
GJ. Cament BAIL
Dairy Farm 30%
Weton
4012
的
ង ន
*
Ailled Invent. 11,70.12.16 Textil... 2.80.
Nanyang 13.60 1440 A. Rubber.
1000 3712 3714 1000
Rubber T. 7,80 100 1000 ke 7.80 Realty
2.075 20
25000 or 2,70
Stealty
New
KMB
- Inv.
TIC & FI allman
ad po 3730
241 24.50
1000 24.00 "6.16 39099 ab 0.18.
Int'l Invest. 10 10.30 City - Howi 33}
fumpiraya
Ferry
Singapore, June 8. Will further denial by oficial sources of any proposed changes | Star+ Its UB. stockpile policy tho market
opentil higher. ond fluctuated within. very narrow Umlu
י'
Exchange rates
Lower grade interest WON amall and selective." -
London, Junie B.
Business was done in the tariefekat
'market rogening, at the following rates;
The tu markcat was steady-to-
Prices in the atterzioon held staring noter (per £1)
| dar. While copper market vis | stesity throughout with good "fr--"Alaspuulanccrotex (per aty barely steady, the idea mna "Kluu :-quiry for lower sheet ir par-indonesian rupiah 3907
ticular Res No 2--UPI.
..
re-
It will be recalled that in June of last year a "Belvedere cs- tablished unofficial records be- tween London-Rome and Lon 'don-Malta. First deliveries to the Toyal Ali Forch were made in October last, and following intensive operations by the Bof- vedere Trials Unit at Odiham, under the command of Squadron Leader John It. Dowling, the Arst Squadron is to be formed shortly.
.
90,000th crossing
of Atlantic
Pan American Airways has just completed Its 90,000th trans-Atlantic crossing, it was an- nounced here today by 'Mr J. 'G. O'Donnell, Ro- gional Director. The flight was Between New York and London.
Thamilertone in aviation history was reached exantly 22 years after the first Pan American Yankee Clippe look off from the waters of Long Islurs on the first caminorelei trum-Allantle crowsing..
Carrying niemail, the Yankee. Cipper Tanded in Lisbon 20 local hours later, Pau Am's 90,000th. ** Afght spanned the ocean In $148.) Bevon houe and seven soinutos, In 23-year history, Fan American" das carried more