THE CHINA MAIL
TUESDAY, JULY 4, 1961.
New York prices rise, WALL STREET
'Growing U.S. low
interest in Australian
stocks'
in
New York, July 3. Surprise at the "growing
American Interest" Australian stock issues was exprossed today by Roland Walton, a mom ber of the Sydney Stock Exchange, after visits to San Francisco, Los An- golos and Boston.
stocks
"I am very surprised of the growing interest in our
investment for for portfollos from the States, particularly on the West Coast and in Boston," Walton said as he arrived in New York for fulks with invest ment officials.
volume New York
Now York, July 3.
Stocks moved ahead sharply today, closing at their highs. However, volume slump- ed to a now 8-month low as many traders strötched the weekënd Intö ɑ long Independence Day holiday. Popular market indicators all showed significant
gains at the close.
Some
market
annlysta Mission Development
Montgomery Ward thought the afternoon uptorn National Cash Reg. "A"
National Lead had signalled the start of tuitional July-Aug rully but must opprimehed
a
the sub- guardedly, preferring to see if the rise connues uped-up volume when holidays are over on
duy.
New York Centrai
Ons Elevators
Parie Clan Ele Pan American Airwayn Paramount Pictures Futsburgh Plate Olsen Rao Corporation
011 the Wednes-Republic Steri
Chemicals, defence
istica, intele sleeks and a few special situations were the main force behind the rise. Internationof is rails, utilities and molors plso firmed along with most Tibbers mal tobnécor.
Republie
and Youngstown, more than a point, spear- herder a late comeback in the sterls
which were
depressed earlier in the sersion owing to "So many mutual funds including two or three of our Afth consecutive weekly pro- stocks, particularly these mutual duction drop. funds that include International and Canadian stocks. This interest is partly due to concern about the height of the market here, and the Mculty of getting sumcient returns."
GREAT NEED
The chief trouble,
are
Walton
Hald, is that American investors seem to have picked out only 4wo or three Australian and pay no attention to
others,
any
10
"They are concentrating mich un just a few stock," he need said. "There is a great here for more information on other worthwhile Krowth
Australian stocks, The problem seems to be one of lack of in- à condition I have formation, been trying to correct in my talks with Investment people,"
Walton had tended to visit Washington, but said he had to cancel that visi due to lack of ime. He expects to leave for Europe about July 8.—UPI,
UNIT TRUSTS
First Hongkong Fund; (buyer), $1.42 (seller).
Today's volume was 2.180,000 Of a total 1,187 Issues shores, traded 647 were higher and 320
Jower.
American Exchange volume was 780,000 shares.
Bonds volume amounted to
$4,020,000.
Dow-Jones
averagen
30 Industrials
20 Rails
Utes
5 Stockts
elusing
stock
Reykis Mola) aleynalda Tobacco Stictale O Sacday Sub Of Standard Brands Standard Oll of Cal. Standard Oil of Ind. Standard off of N.J. Stokely-Van Camp. Stone & Webster Studebaker-Packard Corp. Switt & Co.
889.6 up 6.95~~~
140.1 up 0.04
712.30 up 0.65
220.73 up 1.02
Closing prices
Algen Inc. Acf. Alted Cherpteals All Chaltovrs
American Airine
American Metal American Swelling American Tot & To American Tub Auaconta Copper Armour Atlas Cosa, Mining Delthnore & Ohlus Detigheim-Steel Cann, Brewers
Canadian Pacific 2.
Curler Motors Comincial Credit Consolidated Exten Cuban Amer, s Crane Co.
Eastman Kodak Ford Motor... General Electri General Folds
General Motors
Goodyear Tyre
Inty Business machines
Int'l Harvester
International Nickel
$1.33 In Tel & Tel.....
¡ Litwa Indi,
Lockheed Akeraft
cotton
market
CHATTER
New York, July 3, Bacho and Co. foofs the
market may
taka airhoI
of two courses of action How that a number of #bchnical Indicators remalh close to oversold positions:
The first possibility is a sell- ing climax, that is, heavy selling by a
tollowed immediately sharp rebound.
LONDON MARKET
QUIET
London, July 3,
The London Stock
Market
was generally quiet day.
Seasoit vacation
-94
inhuences
and the Kuwait situation were restraining factors,
New York, July 3. Cotton futures today 100- sawed narrowly in a quiet
Government bonds improved but pro-holiday trade,
on small buying. Dollar stocks were mainly higher. to show small i managed
Industrials
and were quiet gains most of the time
casler. Tin was arm and miulug on the active deliverios.
markels wero extremely quiet.
Dil shares moved narrowly Closling
Fuled Brites
Bache
Uccisive and showed the change-AP, {blgher to 32 points lower.
801: in the market opened up 15 to off breakthrough
Closing prices New points,
Orleans Dow-Jones Industrial Average 50% three
2416
1
70!
013
Fix The
The other alternative could be more narrow moýcinchis during which a konse will be constructed.
says that
จ
50 closed up for 10 off three accompanied by increased tad-
ABAL
132
puinis.
411
Evening up fit the spot July 40 delivery continued on a sina
sente following the issuance thre
delivery notices, 44 malding a teful of 183 fenders
10 dale,
REP
257%
7
413%
100
more
In he later months, switching of new crop July and October 137, Reliveries provided the trading
with the
exchanges feature being made at 100 points dis- 5015 enunt on October,
Texas Co...
Union Carbide
Union Pacifle Raliway
33
United Aircraft
47
U.S. Gypsum
and
US. Rubber
U.S. Smelting
1.S. Steel
Westinghouse Electric Wentworth K. W
Warner BroR
43
7014
-UPI.
Chicago grain
Chicago, July 3.
The groin Futures
market
ing neilvily would suggest that short tenni bese has been com- pleted.
Under present circumstances, however, the firm feels that the development of a selling ellmax would produce a more furceful rebounci
Блуз
Gerben of Wall Street The open position in July to- most Wall Streeters remain con- The Vinced of the markel's underly- day totalled 8,000 bales,
ing strength and the outlook is certificated totalled 98,037 bales,
for an early resumption of the plus 1,080 bajes awaiting review
upward trend in prices. and "micronnairs."
With the July contract traders practically quidated, commenced to look for new incentives,
elsewhere
The government's first crop report of the scaron will be published on July 11, it will estimate the planted acreage for 1001 and give a preliminary estimate on production.-UPI.
B. K. Thurlow, Cohn and Stetson says he can't agree with the widespread expectation of a summer, rally "If only because
We
believe there is a rather waiting large amount of stock for just such a rally to be sold."
saw a general rally today West German on the verge of Inventory build-
after a mostly
582,
201
start and nearly all com-
3314
moditics were up as much
1101
BG
વ
76
16
200+
1001
ท
873
as a cont or more in the early afternoon on the Board of Trude.
Soybeans
were ahead
than seven cents
nl times
טרון
on
the July delivery but they met.
moderate volume of profit- taking at that level fler short covering appeared to stacken.
Brokery said a good deal of
for grains the support
linked wiha
firmer prices
other major markets, such
was
at
BS
Kansas City. Minneapolis and
449 Winnipeg where buying was 476" credited to reports that rainfall
economy
Arc
The economy appears to be
up and this suggests that the capital goods stocka
the ones, which should share in the best price advances to come, according to Joseph E. Granville He of E F. Huttan aud Co.
boom in the stock market may pet
this summer
in
Bonn, July 3. The booming West German says a capital goods
economy
calmed down after the revaluation of underway
the Mark Inst March, the earnest. Economics Ministry said.
The Ministry said in his re- pari for Muy
that the
mala
reazon for this
was a slowing
in offerings.
Arbaham and Co.
tire
says the down in demand and nn In recent declino is due more to a
Demand withdrawal of bids than had generally fallen in the in-pressure of selling-UPL dustrial goods section.
crease
trade sliuation The foreign C55
also in the dry had
strengthened the over the weekend
down trend. Exporis 54reas of northern great plains stowing
had fallen and finports had was light,
risca, the Ministry said.
श
1311
4722
22
Lone Star Cemen
►
Munesota Mining
Second Hongkong Fund: $1.01 Low Incorp.
(buyer), $1.07 (seller).
P.O
ORIENT
LINES
AMENDED NOTICE
s.s. "CHITRAL”
At the finish soybeans
Were
21 to 8% cents a bushel higher.
2.75%-%; wheal B2 July
3/4
West Germany had a foreign: trade surplus of 229 million compared with lower to higlier, July 1.024-Marks in May
million in April.--China 82; maize Th
14 higher, to
738
July 1.13 -14; oats 1 to 3 Mall Special. higher, July 60%: rye 2% to 44
higher, July 1.20-27-AP.
Imported linseed
METAL MARKET
London, July 3.
Rubber
market
New York, July 3. Holiday conditions prevail- ed in both terminal mor- ket and the spot trado.
Shipinent umcials wete re- The tin market was quiet,ported light. Some No. 4 RSS
Copper opched lower towere day and thereafter price to be a round 4 cent a pound movements were irregu-under Malayan lur.
In New York, copper futures today closed 39 to 04 points lower with sales of 378 con- tracts.
Brian Government Becurities 2 Consolidated £38-11/16,
Conversion-3-3/16
36. Savings 1055/65-10-13/10. Savings 1000/70-C10.
3 Savings 1905/75-70-5/10.
Overseas Bonda German (Downs)-a. Jennene.sented-187.
Jan & Insurance Barclays Ord-150m 14. Chartered Bank---588. Guardian Assurance-50x. Hongkong Bank-10.
Landel frus;-33s,
Lloyds Bank-60s Dd. Combard Banking Ord.-17. Pd. Prudential Abur. "A"-24-3/16, Royal Bank of Chanda-E774, Royal Insurance Urd.-170 d.
British Petroleum-47 3d. Burmah OU-37%.
Shell Transport Ord-ile d. Royal Dutch12-0/10. Ultramar Campany-30 101.
Steels Engineord 20% d.
Babcock & Wilcox
Dorman Long-31 88. Guest, Kean,
Harland de
Ord-15 3d.
Melal Box-83 7169. Stewarta & Lloyd Ord-430 411⁄2d. Tube Investments-60s 1010. United Steel-523 34. Vickers Ord-324 3d.
Electric
Art ledusiries-39% Bd.
Electrobie Ind.--lia Tija. Elec, de Mux Industries—405 English Electric Ord-3ta. General Electric Ord-335 ed. Philips Lamp Works-£104. Redfusion Drú,425 7128.
Industriais
Assoc. Portland, Cement-70s 111⁄20. Doardman Morden Ordés. Borax (Holding)-18% 4% 4. Deces Records Ord-208 1144. Dunlop Rubber
Fipons Ord—448 1950.
Gilman (Holdings) Ord.—Bi 41d. International Computers--Dla (!d. Turner de Newall Oni-12 4l60.
Unilever Ord—138# 10454. Wiggins' Tenpe Ord-50% 36.
Chemicals imperial Chemical Ori. B. De Monsanto Chemicals Ord-21a Od.
Cihenias & Television ABCOC. Brit. Pictures-605 2014. Honk Organisation Ord-201 00, Stoll Theatresa- 78 715d.
Paper Bownter Paper Ord-374. Spicers Ord-301 14d.
TODACCOR
Krkic-Amar. Tob..Ord-05x 7. Gaithher Ord-458 54. Imperial Tobacco Ord-08 11⁄2d. Motors British Motor, Ord-148 1015. Hawker Siddeley, Ord-278.
Cara Ord-os 150.
Holl-Royce Ord-48
Westland Aircraft-18s Id.
Texilies
Bradford Dyers-108.
Calico Printers' Ord-12s 4%d. Courtaulds Ord-35 d.
Fine Bpinners Ord-23s Tigd. Lancarfil Colton Ord-85% 7%.
Breweries Distillers Co. Ord-358 45
Guinnesster-548.
Ind Coope
BLEECK
714.
Great Univeral Ord-878 out
Univerzal "A" Ord-53, 6d. House of Fraser Ord-25% Bả, Lyon (3) "A" Ord-70s dd. Marks & Spencer "A" Orú-112
Indicated around 22%
50. cents. Brokers figured the price
four ambers.
Locally, current month No. 1 RSS was quoted 28% cents and spol 20%, cents a pound for both nominal. `
London, July 3. The UK drawback of im- rate on imported port duty linseed feed in the production linseed oil and of
xported
mixtures containing certain linseed oil has been increased, the Treasury announeed,
The Ministry also announced the allowance of drawback of import duty on certain IM
recovered partially In London, the rubber market ported silk fabrics used in the fron the extreme lows, but the was dull and featureless with EMBARKATION: The ship will be berthed at No. 1 manufacture of exported inked general market remained easy spot quoted at 24-11/18 pence.
Pier, North, Kowloon Wharf, Pas- Hibbons for typewriters or for under pre-holiday liquidation, other oflez machinery. The which was spurred additionally
In Amsterdam, the rubber sengers should embark between 2.30
changes came into force on by the lower London market. markel was very quiet today. -- p.m, and 4.00 p.m. on Tuesday, 4th Juny 1-China Mall Special. UPI.
UPI. July, 1961,
sailing for UNITED KINGDOM vic SINGAPORE, PENANG, ADEN, SUEZ, PORT SAID.
SAILS:
BAGGAGE:
THE SHIP. 15 NOW EXPECTED TO SAIL AT 5,00 P.M. ON WEDNESDAY, 5th July, 1961,
Should be sent to the Hongkong & Kowloon Wharf Co's Godown (No. 2 Gate) Canton Road, between 8.00 a.m. and 5.00 p.m. oh Tuesday, 4th July, 1061.
SUBJECT TO CHANGE
Agents:
MACKINNON, MACKENZIE & CO. OF HONG KONG LTD.
P. & O. Building, HONG KONG,
Telephono: 85211/9
CALL 59195
FOR GENUINE DRYCLEANING
COLLECTION and DELIVERY SERVICE
THE TEAM LAUNDRY: CO.
No. 1, Kwang Wo Street, Kowloon.
Pilces
COMMODITY PRICES
METALS
Spot
483838836
July/Sept
Cet/Dec.
Jon/Mar.
Apr/June
བ་ད-23;
2434-243 243-1415
Settlement house term: Aug...
241-25
2424-2416 2624-2475 3476-2474 2416-28
July/Scpt.
Oct. Dec.
LONDON
Closing prices, all in sterling per b per long lon:
Buyers Bellara
LIVERPOOL Closing prices all in pence
American Contrael
General markets, ports:
c... basis,
July Aug.
Estate crepe thin July tluck July
27-27!
July
13.00
Tin
Ocl.
24,33
Der.
Mar
24.03
May
28.10
Spon
July
25.20
3-month
Oct.
25.10
+
Lead
Mixed Contract
Spot
0454
July
21.33
-month
24.00
Zine
Spot
3-month
Gpol 3-month
Copper
COTTON
NEW YORK
Closing prices all in cents
54.00 nom,
31.13
34.03
2019
UPL
RUBBER
AMSTERDAM
Closing prices all in guilders
per kilogram, c.i.t. July
No, i tubbor
No. 1 rubber
No. 5 rubber
Tate & Lyla Ord-40 United Drapery Ord-73 Dd. Woolworth (W.) Ord.-84 70.
Ascellaneda Bowmaker Ords 10, Brit. Commonweal Ship. Ord-361 Canadians Faelfic Ord-$45?}," Cunard Steamship Ord-109 191ýd. Forestal Land & Timber-148 7. Furrices Withy Ord-4a 7igd. Hongkong & China Gas-1. Judson Bay Co-£94. Indo China Def. Ord-zas ad, Land Securities Ord-3. T&O, Steam Nav. Def.-30
10td.
Miter British Tin Investment-12 4. De Beers Def=-118s | Od. London Tin Corp-20 34. Mount -821 3d
Petaling Tin-118. Ahokona Corp.41 34. Rio Tinto
Hoan Anteloper)-in tijd Copper-6 3d. Union Corporation-44 3d. Welkom Gold Mining-118. Western Hodge-100.
Rubber & Tear Anglo Indonesian Plant to ed. Coyton Tan Ord-22a dd. Imperial Ten Ord-14 Bet. Kuala Lumpur-Kepang-id. Lambak Rubber--50s.
U.S. rejects Japan
request for
routes
new air
Washington, July 3. The United States has rojocted a Japaneso request for now dir routes which would have given Japan Air Lines a virtual round-the-world service, American offi- cials said today.
HONGKONG
STOCK
EXCHANGE
by
Our Own Correspondent)
Business done on the Hong- kong Stock Exelango this morning amounted to approxi- mately $2,740,000, Noon quota- Lions
and the morning'e transactions; shares
Sales Buyers Beltéra
430 420 243 0 410 100 248
HK Bank.. Bk. E. Adri 310 Lombard Ins.
H.K. & F.E.
Invest
Wharf Co..
Wheelock
Ex. All
24.40 20.60
404 400
14.20 14.30 0000 # 14.30 2000 68 14:30 2000 e 14.30
Ik Dock.. 111 112
Telkoo Dovic 73% 75
1900 112
300 113
2004 112 000 6 1415
200 g 741%
C. Provident 311⁄2 3471 1900 69 317%
200 + 35 2000 © 20
NK Hotel 4715 40 2000 €Ð1⁄4
HK Land..
HK Realty 2.075
7314 74
Now
500 00 472) 100 0 7435 2000 $14
2.70 20000 2.70 10000 * 2.10
6000 7.725 10000 2.075 2.325 2.60 250 3.50
1250 7.023 59002.65
100 43%
HK Tram
425
སྐ
43
KM Bus
501% 01
Youmat! Ch. Light
372 37
XK Elec.
Telephone.
¡IK Gas
Glistan
Jardines
:
3000
38 384 1400 100
57 50 1000
28.00 22.80
2000 ur 67A?
Japan, in Washington talks which ressed on June 30, re- quested (1) an air route from Japan arross the Atlantic to New York, and (2) extension
เค
af spænt Pack route from the US West Const New York and beyond to Europe.
The American officials said both proposals were turned down, but the US had made a coulter-proposal to, Japan for
a route from the West Coast to New York but not beyond.
No agreement 1.4 reached nt the Washington talks, they, added.
the
20 to
The State Department issued the following communique;
"Aviation consultations under US Japanese bilaterni agreement took place น Washington from May June 30. 1001,
with recess in mid-June to enable Diembers of
the
Japanese delegation to attend the extra- ordinary assembly of the Inter- national Civil Aviation Organi- sation in Montreal, Canada.
n brief
"The respective points of view of the two governments concerli- ing civil aviation matters of mutual interest were discusted.
"The consultationg recessed on June 30 until an appropriate date in the near future."
were
The US position was that the North Atlantic route should be primarily for America" and countries with geographical access, while the West Coast, was similarly open to those fa- tions nearby,,euch as Japan. American omclais sald there
was no arrangement in hand to resume the talks although they could be reopened at the re- quest of other countries.--Reu- ler.
Advanced jetliner for Far East route
Swissair's Convair B80-M'
the advanced vortion of the Convair 880 now Bb- ing used with a grétt
deal of success by Amori.
ビロカ domostic
will be
earriors,
BOON on
For
Eastorn routes in Septem- ber.
The now jet, with a maximum
100 38 cruising speed of 080 k.p.h, 18 300 ** 5715 one of the fastest jetliners in 106 0 2526; civil operation in the world,
200
€3,10 They will cover Far Eastern 600 22.00
300 v 22.80 ports in Swissair colours from 3500 * 23.59 | September until early 1902, 500 200 when the newer and Inaler 100 of 23 200 2200 versión, of the same aircraft, 5.20 012 3000 60 514 the 900 Coronado, WAI be
1000 530 introduced.
.. 20.00 20.50 1200
Cement
F
~~Reuter.
Dairy
404 40
London money
market
London, July 31
It has boon a vary mixed and unsettled wook in the London monoy market.
buyers buyers The usual credit shortage was buyers encountered in the first two days UPI.
with the rate firming to 4%%%. This was followed by two days of easy conditions during which borrowers obtained loans for as little as three per cent.
FOREIGN EXCHANGE
NEW YORK
Closing rates: Canada England official
30-days
"+
90-days
Australia
NEW YORK Stubber futures closing prices. New Zealand all in cents per lb
Bouth Attic ITex Standard Others unchanged
1.1002
2,7708
大
Half-year factors then inter- vened and on Friday (June 30)
Watson Texio.... Nanyang
www
Amal Rub. Rub. Trust.
7,70
7.03 12.10 121
0.40
Lane. Craw. GO 12%
U. Wboat. Undarwriters 10.30
City
Hotel J
Humphrey 25.64 $15.00
Htar Ferry
Rupo....
29.20
3253 or 29.70 The 880-M hos a wing span
IDU or 29.70 of 36.0 metres and the wings 30029.00 have
$1 swerback .of 35 100 971 degrcer. Fuselage length 18 37.8
100 41
900 640
Dog
2000 404
1500 of 4015
500 E 4015
250 12 1.70
1900
135
100 G 1214
4000 6 6.40
500 6 B 1000 à
1200 $ 7.00
1500 531 1000 LT AZ
300
Approx. Turnover: $3,740,000.
Agreed merchant
rates
39
Canadian dollars, maximum
money was acutely short. Very pelling 17-27/32, minimum buy- heavy calling was encountered
Inu 16-3/32 TT; 10-5/32 OD. from all quarters
Swiss francs, maximum selling and the few balances which
74-3/1,0. did not move out to the maritet during the day were keenly bid for at rates
varying from 4%% up to 5%.
The Authorities provided Q
substantial amount of help. but despite this proclically. Uie whole
Closing prices all in cents por of this market had recourse to
per lb.:
Spot
July
July
23.90
20.00
NEW YORK
Doc.
zept.
26.90
20.03
Mat
Nov.
24.00
20,49
May
You?
246.00
1b.:
July
MOT.
28.30
Oct,
May
20.35
Dec.
LONDON Closing prices alt in pence per
July' Ztne Dept.
Copper Bapt.
Klapa,
No. 1 Rai pot
24-31/19
5.00
NEW ORLEANS Closing prices all in cents 1b.
per lb.:
the Bank of England to borrow at bank rato ferma.
There was little change in the Treasury bill rate st” £1.10% Bota par cent clima MAIL Special.
West German deutscherharks, inaxihitim selling 60-5/10.
Exchange rates
Businem
wie dense in the exchidig market morning 41 the following raten: Us, dollar. (PDF, BAY Starling noten (pat, £}] Avalraílási hotun tour din Indonesian rupial
at Meals (per 100) Kingapore (ditalto)
Epir 100)..
local 1115
18
metres while, at its highest point, the jet stands 11 metres
or the equivalent of a
storey house.
The
landing
four
maximum lake-off and weights are 37.5 and 70.2 tons respectively.
The cabin has a length of 20 metres, is 3.25 metres wide and divided into three sections: the economy class compartment. seating 04 passengers, the first class section seating 20, and Лnally a spacious passeriver fourge. Two galleys стига preapt and attentive service,
UAR-Netherlands aviation accord
The Hapun, July 2
A new aviation bgŕbament botwoich the, UAR and tho Netherlands Was inflated heim; supersed- Ing the separate “Dutch agreement with Egypt and Syrio, the Dutch Civil Aviation Board aA- nounced Monday.
Thó now agredniant põimit airlines to be nailed by bolh parties to fly over each other's territories
The
agreement WAL" DIER=" tinted hage from Jung 20 to 30 by a UAR delegation bended by Buca Mohamed Boliman TIRA.
1.01 AP