| Page 2
THE CHINA MAIL, TUESDAY, JULY 18, 1961.
New York shares suffer WIDESPREAD LOSSES big
IN LONDON, MARKET
London, July 17.
Stores and property stocks were the hardest hit among industrial stocks which declined today resulting in losses of millions of pounds from market values.
Fears that the government's economie uke will hit the market One
10- week from morrow dominated the depress- ed market and a faint attempt to rally Rzzled nal.
Patie in every plummeted and only a couple of special situations went against the trend.
Bright spots were "foreigners" Hike Philips Lamps and Dutch Unilever which made the plus column.
British
Motor Carp managed!
tu hold steady but the bulk of blue chips phitged. Falls up to two shillings were entotnenplace ¦ after stopped up selling.
Bargain bunters were holding
while OIT
the Government's "medicine" for the economy
was unknown, although many
financial commentators Judge the fall in top quality counters aireatly was overdone.
GILT-EDGED
Glitelged stendfed at frst helped by a firmer pound but talk of a bank rate increase un- seliled the bonis
lipped by £3/8th for short- dated isniei,
and
they!
Greek and Japanese bonds hardened in forelga bonds,
Dollár stocks
gave a mixed) performme! but gains finally Look the upper hand, Shell the standout up two points.
In mines coppers went ahrad on favourable press comment and golds rmed in quiet trad- ing. Tins fell back.
Leading olis fared better than industrials and lost only fractions.
Rubbers and
leas generally
edged downwards---UP!
Closing prices
Brital Government Reestritter
2 Consolidated-438).
3
a
Conversion-£52-42716.
J
2 Savings (77
Savings
3. Savinge 1985/75-2001..
Overseas Donde
Gerinan (Dawes)- EOD.
$5 Japanese, Assented— £158,
Hanks & Insurance
Barelnya Ord-Tis Vd.
Chartered Bank-$15.
Guardian Amuratice-$7, Bd.
Hongkong Bank-217.
Lloyds Bank-3.
Lombard Banking Ord.-16x Od. Nations! & Grindleys-22. Prudential Royal Bank'
anustin- £2129. CHAT-E21-80/16.
Royal Insurance Urd-25% 93.
Ol
Britial Petroleum-46% Gd. Burmah 0-355 3
Shell Trumpers Ord-118h 94. Royal Dutch— £ 12-5/10.
Ultramar Company-785 1010. *Steels Engineering
Babeogit de WBeox Ord-276 724). Colwilles Oru-35% 36. Burman, Long-27s
.
Guest. Keen Ord-80% 750
Harland & Wolf Ord-19s 450. Stewarts & Lloyds Ort-42. Summers & Sons Ord~40% $1, Take Investmeziis-878 kg. United Steel-40s Bd. Vickers Ort)—30.
Eierstle
Assoc. Elec, Industries-30% D. J. Electronie Ind.---10x=2%, Elec. & Mus. Industries-375. English Electric Ord-30s 3d. General Electric Ord-318 Bails Lums Works & 15-15/17. Rein Ords frá,
Industriale
d.
Assoc. Portland Cement-74μ el. Boordin Marden Orf-5 1. Burax (Haldines—17% 7%df. Decca Records Ordin555 7150. Dunlop Rubber Ord-20s. Fisons Ord-41 195cf,
Biman Boldings Ord.-n. International Computers-ius fid. Tumer & Newall Ord.-Bay do. Unilever Ox-1209 d.
Wiggins Tenpe Ord-356 4120,
act
Chemical
Imperial Chemizol Ord-05« 6c. Menantu Cheintent Ord-20%.
Cinemas & Television Mon Empires Ords 10. Hank Organisation Ord...āla 95. Stall Theatren-1s.
Paper Towater Paper Ord-128 410.
In Rue Ordata Ost. Sulcers Ord-46 Bd. Tubarcos Belish-Amer. Tab. Ora-620. Gaureen Ordas G. Imperial Tobacco Ord-ots.
Fish Motor Ord-135–1912, wker Siddeley, Ord-2 Gil. Suguar Cars Ord-904 100, Holls-Royce Ord-4231_3d. Westinnd Alteraft-ita.
Textiles
afolors
Bradford Byers-17.
Stalien Printers Ord–124, ad. Coats JP) Patonal twins-39%
Portatile Ord-15 7. Fe Sptuners Ord-25 GA, Lancashire Cotton, Dril-35% 1',d. reweries
Distillers Co. Ord- 31. Guinness (Arthur) Ord-St Jut Compe Ord-Ba að.
Stares
decline
Now York, July 17.
Stocks suffered sizable losses on the Now
HONGKONG
STOCK
EXCHANGE
Our Own Garimpandent 3
York Stock Exchangơ today, closing atong Stock
Business done on the Hong-
Shares
foxchange this
Buyers Belaru Bale
or around their lows in continued slow morning amounted to approxi- mately $3,500,000, Noon quata- trading.
tions and the morning's transactions, the brunt of the selling, as First-class issues bore
ovidenced by a relatively steeper decline in the quality-laden Dow-Jones 30 Industrial Average thinnor Bank.. in the more Inclusive Standard and Poor's 600.
Market heavyweights includ- Į Parke Davis Col ing steels, cars, ebemicals, Panny J. C..Co. metals, utilities and ralls gen-p Morris
crally showed Jostes fánging from fractions to two points or more,
Finner, building and many leisure stocka Alan decilned, along with a number of key de- fence istes. Only drugs managed to hold a good portion of their curly gains,
Today's volume was 2,600,000 shares.
323
Of total 1,250 issues traded, were higher ant 698 lower. American Exchange
was 1,040,000 shares.
Penn, Salt Co.
Pitney Bowes
Pure Oil
Indio Corporation
Radio Corp Pref.
aytheon
trouble Steel
Reynolds Metal
Royal Bank of Canade
Iti nank
Wheelock
:
40 1255 406
50 400
40 408
370 406
UK retail trade loses buoyancy
London, July 17. Retail trade in Britain lost
some of itu rocon buoyancy in June com- porod with the high lovel of the preceding throa months,
provisional estimato from the Board of Trade showed today.
After allowing for seasonal factors, the index of the value of total was probably between 113
with and 114 corepared 115
in each of the previous three months. In January and the adjusted index February
The Bourd said it seemed 13:30 there
from was some casing the earlier high level, "but too much should not be read Into individual
100 18 200 to 73
200 - 75%
FOOD STORES
Less active trading by food tures seems to have enuset much of the decrease in June, Board officials said.
For the recond quarter as a whole the Index was estimated at 114, against 113 in the first quarter and 112 in the final
3414
Lon. Reg. E. Asta
24%
HK & FE
Procter & Gamble Co. Pittsburgh Pinto Glas Portland Gen. Fire.
BIES 042:
invest. Wher?
..
25 23.30 300 5 25.20
414 415
13.30 13.40 3000
13.30
Publicker Industries Pralinen
41b
10 412
3000
13,40
wag 112.
10000
13.40
2000 13.30
3000
BEWheelock
(RU
3.15 3.33 2003
3.30
2210
4334
Hyvids Tobaccu
132
IIK Dock Taikoo Dock
115 117 záh
the month,"
figures for an
Royal Dutch
Rheem Mfg
1714
100
Seard, Roebuck & Co.
volumic
Shui o Co.
Safeway Stoves
19
Saint Reg. Paper
Bonds
volunic amounted tu
Schenley Inc.
$6,000.000.
Boult Paper
Provident 261xK Hotel
1004
HK Land
2312 31
47 431 1300 75
1000
Siegler Corp
Dow-Jones closing; averagest
Stachir Í
401
30 Industrials
684.50
Smith, Kilie & French
212%
20 Rails
135.45
Socmy Mobli Ol
40**
HK neally
South Puerto Rico Sugar
22%
(Q101
270 50032.075
15 Uulities
143.01
Sauthern Ch. (The)
54
(Rights)
45 Stocks
•225,
Southern Natural Gan
HX Tram
200 42
40 Boruts
$3,03
Southieni Pielfie Co.
260 to 42!2
tl.
“A” Öritings
Southern Railway (Com.) Sperry Hand
34T
300 1 4249
147.84
Standard Brands
Standard O
of Cal,
51%
100 422 100
Standard O
af tel.
Standard Ol of NJ.
4.776 KM. Dua
1012 $1 1150
402
Sicep Rock
Sterling Drug Co.
12
Yumati
134 135
Stokely-Van Camp
17
100
Stone & Webster
Studenker-Packard Corp.
712
Ch. Light
3912 3022 1500 or 397%
As Chalmers
Sunshine Mining
U
Am Brake Sh
Swift & Co,
100 40
42
Amertean Airline
24
Texas Co....
100
2000 301
Am. Cable & Radio Corp
Textron Inc.
20
HK: Electric
4015 40%
American Cyanamid Co.
Amer. & Form. Power
1032
Thinko! Chem,
Am. Gate Electric
0732
Tide Water Oll
Amm
Home Prod.
221
Time Inc.
ch.
Ain. Mach. & Fury
4432
Traders Finance
Travelers Inc.
142
143
4.
American Metai
Am. Natural Ga
672%
Til-Cont. Warrants
37
America Smelting
00
Twentieth Century Fox Film
Telephone
60 30%
200
A. Sugar Bel
મા'
Unten Carbide
American Tel & Tel
Union Out Cal
American Tov.
DIP
Union Pacific Railway
101%
Unlled Aircraft
Ampex
5434
United Fruit
752
Unlied Gaw Corp
U.S. GypsuENTS
Great Universal Ord-12s. Od. Great Univeral "A" Ortuala, Hover of Fraser,
14 30. İyun 131
Marks & Spencer
Tale & Lyle Ord-43s 1.
Uniteit Drapery. Ord-42x 24 4. Woolworth (P.W.) Ord-55.
ancellaneous Bowmaker Ord--15% 2,d. Brit. Cammonweal Ship, o Sanadian Pacific Ord- 14342. Cast Strumably Oral-19 Forestal and B Timber--13% 34.
Ord-391-1
wo
Pheness Winkayas-75.
Bongkang &
Juris Bay Co-£8. luận Chu Trt and a
Land Securities Ord-20s l
P. & D. Steam Nav. Del-33.
Stines
Brit. South Afrien Co.-02
British Tin Investment-43 The Heers Del-172 B. Landon Tin Carpi
33.
Eteunt -5.
Petaling
Bhokann Corp.45 3 Rio Tinto hearers 304–31.
Hour Antelone Copper-Bel Union Corporation43 13. Welkom Grid Mining-10% 3. Western Horlings- Oct.
Angio InRHI Tras
Cimun. Juture prless
incicx
Closing prices
Abitibi Pwr. & Paper
Alden Fac. Acy.
354 Alone Steel Corp.
Int.
Ceylon Tea Ord-239. Imperial Ten Oed-145 Kuala Lumpur-Kepongw3 440. Lambak Rubber-478 ct.
-Reuter.
New York
sugar
Allied Chemicals
· Albed Mils Inc
Anscoda Copper
Are Steel
Armour
Asbestos Corp. Baldwin-Linu-Ham Baltimore & Ohio Bank of Montreal Bench Late Savers Belt Telephone Deneficial Finance
Bendix Aviation Corp.
69
43
U.S. Line Co.
15% U.S. Fulber
III Gea
++ 22.30
Güman
Jardinee
5.10
200 134
1900 21
2000 40%
1000 do 4012 3504014 100403 500 40% 100 407
225 1 1100 5015 1104501% 200572
75 57 1000 50%
23 1900 / 22.50
500 e 22.80
1000 u 22.50
200) ZJ
20.10 21.00 2000 to 28.30 G.1. Cement 0015 07 1500 67 Dairy Farin 41 42 2800 42
7.15 720 6000 +7.20 Nanyang.. 11.90 12,10 Amol, Ruh..
0.30
Texille...
U.S. Smelting
31
6214
U.S. Steel
67%
US Steel 7 PC PF
14511
3402
Warner Bros.....
3347
Waukesin Mutors
화
Westinghouse Air Brake
12
Westinghouse Electric
#234
4/1
Western Union Tet. En.
4
Boeing Airplane
MEN
West VA. Pulp & Paper
Borde The Co.
Winn-Dixie Stores
Rub. Trust, 7,00 City Hotel
Burros Add Machine
Woolworth K. W
76
Zenith Radio
150
Humphreys
British Amer. Oil....
UPI
Hentuel Cons
Bethlehem Steel
British Columbia Elec British Columbia Pur.
Call Packing Corp Cana. Bk. of Comm. Cana. Brewers Campbell Soup Co Canadian Pacific R. Case . 1.) C«. Cat. Tractor
11014
Celmr* Corp.
New York, July 17, World No 8 sugar futures CIT. Financial Corp. today closed one point Chare Manhat. Bank
Chrysler Motors lower to one point higher Cock Cuin
Colgate-Palmolive Co. with sales of six contracts, Colombian Carbon Co. Domestic No. 7 sugar closed Commercial Credit
Carina: Glass Works two points higher to one point Consolidated Edison Juwer with sales of 163 con- Consolidated Paper tracts:
Consumers Cas Continental Car Sugar
dull affair.
Continental all of Del. Futures opened unchanged on Crane Co. ***** both the world and domestic Crown Zellerbach
Delaware & Hudson Co. contracts with no trades.
Diamond Alkall Qn Saturday Iran will buy Diamond Nat'l 50,000 tons of refined sugar in Distillers-Seagram
Dominion Stores market including Douglas Alterait the world 20,000 tons for August shipment, Dow Chemical 20,000 for September and 10,000Dupont de Nemoura for October.
was
th
| Eastern Air Line
Fastman Kodak
will El Paso Natural Gar sugar Family Finance Corp.
Perro Corp. for Inte
Fistitone Tyre & Rubber October First Nat. City Bank Find Nat. City Dunk
On Wednesday, Brazil ofter 30,000 1ons of raw for sale to the US. September and early shipment.--UPL
THE EVENING NEWS
of
MANILA
is now an salo in
Hong Kong
Available atmine
• Kowloon Bookshop
Mirador Mahsión, 64, Nathan Road, Kowloon.
Swindon Book Co.
25, Nathan Road, Kowloon.
• South China Morning Post, Ltd.
1-3 Wyndham Street,
Hongkong:
Tol. 26611/5
and
Salisbury Road,
Kowloon, Tol. 64145
Ford MoiDE
General Dynamier
General Electric
General Foods
General Mutom
den. Pub. VE.
Gen. Tel. & Elec.
Gen. Tyre & Rubber
Gelty Oll
Glidden Co.
Goodrich (D. F.) Cu.
Goodyear Tyre
usmon Refrig.
Idale Power
Imperial Oi
UNIT TRUSTS
First Hongkong Fund: $1.33
(buyer) $1.41 (sellec).
mb
433
Second Hongkong Fund: (buyer) $1.00 (seller),
$1
451
Agreed merchant
rates
West German Deytschemarks. maximum selling. 08-7/16.
Lane, Crow. Macao Elce. Rope
UnderTVE
Allied Inv... Int'l test
Union
Whoa!
Star Ferry
Meinl Indust
Amoy.......
00012 0.50 11000 0.00 4000 19 (1.80 7.13 2000 7.93
332441
27.10 28.30
40%
41%
14.00
11
10 10.00
#
1000 G 27.30
000 en 4974,
2000 15 30
300 421
Exchange rates
Business was done in the Unofficial exchorise market morning at the following rates: US dollar per $1 Sterling notes iper Australian noles (per £1 Indonesiaty ruptat per 100) Slane (per 100) Singapore (Sira:is)
local this
$.002 10.01
3.401
24.3 5.81
ia
The
three month of 1000. buse was 1937 equals 100,
"Increases prices more than accounted for the increase in the volue of sales on one year carller in Board sold.--UPI.
RANSPORTA
Sharp increase
in number of idle tankers
London, July 17.
A sharp jump in tanker tonnage laid up through lack of work over the last month pushed up the total idle tonnage of tho world's mercantile fleet by 130,000 tons at the start of July.
Liner Cathay leaves London for Japan
swing-
The big rig In Idle innitors easily wipi out a better than 100,000 tons declino in the total of dry cargo freighters ing at mouringy.
Figures
Chember from the For Shipping today showed 303 ocean-going vessels of 3,195,400 tons, three por cent of the World's fleet, were unemployed
London, July 17, The P and O-Orion liner Cathay saited from hore today on the first log of of 3,058,721 June," the
World
rabber
review
New York, July 17, Rox rubbor futures today
closed 10 to 20 paints higher with sales of six contracts.
Standard contract closed Ave luwer to 13 points higher with sales. No sales were reported.
Emphasis persists on the un- favourable aspects of the situa tion and, in particular, on the "threat" to natural rubber from The uptrends in production and consumption ar
synthetic rubber.
In view of the natural rubber price decline of three cents or more since last May and the present very narrow natura}- synthetic price spread, natural rubber appears to have moved into a better position.
No. 1
ru 304 and current month 294 cents a pound, both nominal. One July-August ship- ment was sold at 28% and two July-August at 28.
In London, the rubber market was steady with spot quoted at 32.30 25 pence.
In Amsterdam, the market was very calm today-UPI.
COMMODITY PRICES
RUBBER
Oct. Dec,
LIVERPOOL Closing prices all in penee perj Jb.;
American Contract
July
23.65
25.30
938R888 38K2628:
ទង់ព
Jan.
Mar.
May
July
LONDON
Afternoon Breton
30,16 30,12 30.08 30.00
Closing prices, all in sterling per long ton.
3-month
Copper spot
5-mumili Lead epot 3-month Zinc apst
3-month
NEW YORK
Rubber futures closing prices,
July Oct
all In cents per b
Dec.
Great Northern Railway
July
20.30 20.33
Griminan Aircraft
Sept.
REX Standard
2.50
Mar.
May
29.00
July,
25.50
49.35
Ort.
29.30
Tin spot.
Nov.
29.40 *9.00
Oulf Oil
Bixed Contract
Hammond Organ
Jan.
20.15 28.03
July
Heyden Newport Corp.
Mar.
28.00
Ost.
Train Wallër ..
May
28.00
Dec.
Homestake Mining Co.
LONDON
Mar
May
Closing prices ali in per 3b.:
pence
Del.
4356
No. 1 Ras spot
23-2015
4217
Bettlement house terne:
48700
Aug
July/Sept.
R1
Oct./Dec.
30%
Jan./atar.
Tali, Tel 6. Tel
5583
Apr/June
Johns Manville Co
July/Sep
Kaiser Industries
10.
Kanan C. Power & Light
Aug.
Kenreet Corper
Estale crepe
in July****
Kimberly Clark
thick July
Liggett & Myers zob.
Imperial Tobacco Ingersoll-ond
Inland Steel Co...
Corp.
Internal warble
Int Harvester
International Nickel
International Paper
Lily Tullp
Litton Ind.
Lotklieed Airtron
Loews Incorp.
Lone Sur Cetnent Co."
Lorillard P
Lowensteit & sonr McDarinti J. Tay
McDo in Atromitt Merek
Mesabi frusi Corp.
Minnesota Mining
Mission Development
Montecatini
General markets, cl. basla. ports
1b.:
Dayers Seiler
904 010
110
EXO
22014
0014
6/22
70
709%
-UFT.
FORLIGA EXCHANGE
COTTON
SUGAR
NEW YORK
Closing prices, all in cents per
Contract No. 8 (woria)
Oct: 1.00; Mar: 3.03; May: 291 July: 2.7; Sept: 2.07; Spot (World Average) : 3.00
Total Bales: 6 contracts.
Open Interest; 836, contract,
Contract No. 7 (domestlt)
Sept: 6.37: Nev: 021; Mar: 0.14; May: 0.23 July: 1; Spot(Dulk, duty paid): 0.40.
2014) Balong the conurety
terest: 2,372 contracts—
official 30-days 20-days Austraila New Zealand
Danmerk
Swedes,
India
NEW YORK
Monianto Chemical Co.
Closing price all in cents per
|
Open UPI.
Ib.:
Mtuntgomery Ward
Spot
34.00 nom
Motorola Ine,
Oct.
National Biscuit Co.
Dec
34,00
National Cain Reg. "A"
Mar.
33471
National Dairy Prod.
May
|National Lend
July
35.73
Dec.
34.08
2
Oklah Net:
Om Mathlessn
....
National Steel Corp, New York Central, Norand Mines Ltd. Norfolk & Western.
Amer
Y
Marifiwest Altisée (Coma
Qua Elevatote
Owen-Itiinola Glam
Oxford 1uper Co.
Elec
Pastile Glenwi Pan American
Paramount Pictures
NEW ORLEANS
Cichting pribes all in cents per
Tb::
7781
Spot
Uct.
3011
20.
Mar.
May
July
MITALS
NEW YORK
Closing rates:
Canada
England,
.517
2.7075
2,7000
3,7630
1,2300
2.7776
South Africa
1.3000
2444
2003
Hong Kong
1740
LONDON
Closing rates;
New York
Montidal
| AmpstersianS
Copenhagen
Brussel
Trankfurt LIUOTI
in early July against 370 veksejs tons idle at the
a voyage to Japan offer start of June. a £100,000 "facelift" and installation of air-condi-ted the picture. It moved up to
tioning plant,
Idle tanker tonnage domina-
232 vessels of 2,632,29, tons
with 223 compared
tankera month 131
f 2,202,947 tons one earlier. There were
of 362,140 tons freighters
The 14,000-ton Ilner was gall- ing to Southampton to pick up more than 200 passengers for a voyage to the Far East, begin- nitig from there on Wednesday, at rings against 147 vessels
travel She will
vla Aden, uf 700,774 tons at the start of
June, Colombo, Penang. Singapore, Hongkong, Yokohama and Kobe,
A mesure of the improve- Cathay
formerly Be
mint in world shipping in thot Belgian liner Baudouinville. She and her sister ship Chitral in July one year ago there were 003 vessels of 5,471,179 tons (ex-Jadotville) were purchased
Idle, er five per cent of the CIE, Maritime Belge world fleet. earlier this year for £1,500,000 then accounted for 206 chips of from the
of this, freighters each.
WAS
P and O-Orient today showed the four-year-old Cathay to the Press for the Arst time after its "facelift,"
It has, however, been com- pletely air-conditioned to meet the requirements of the Fár
Eant run, and elven a "new look" throughout with fresh fabrics and paintwork, A similar redecoration job is being carried out in the Chitral which will be fully air- conditioned in time for its next voyage month,
from
1.061,200 tons and tanicers then tied up numberod 307, of 3,809,013 tons
SURVEY
later For
No great structural changes | have been made in the liner, The Chamber's survey today originally designed for the ser-howed that only four freighters vice to the Congo.
built in 1950 or afterwards were No dry cargo without work, vessel built in 1934 or was without employment. tankers the picture was not sa rosy. Some 30 tankers built in 1954 or later were led up and represented better than half a million tons. Two new tankers built only last year were idle.
Britain next in July. Liberian-registered shipping casily paced the pack AP and O-Orient spokesmon of unemployed freighters with said today that since the com- 132,747 tons laid up. Italy pany extended its services to ranked second with 05,315 fons Japanese ports with the Cliftral in port followed by the United
80,481 tons in February,
Bc. new type of States with British tourist had emerged. Brilain run fourth with 09,010
PRIME MINISTER tons workicas. This was the person with
tankers, Láberian In
nar sufficient felsure to make the
vessels showed more than double Briteln round trip from
the idle tonnage of any other Japan and back.
country with 809,233 tons laid un. Norway ran second with 383.013 tons idle, Britain was ird with 368,170 tons without work and the United States fourth with 304,052 tons uncin- ployed.-UPI.
The spokesman added already It was
to
that that
clear "quite a few" British tourists were interested in the long the voyage and
chance of a sight-seeing in
1cw days
Japan.
Both
the Cathay and the Chitral are of 14,000 tons wilk n service speed of 17 and a half knots and accommodation for 240 Arst class passengers only.
Their design for warm wea- ther cruising to Africa has minde it possible for an easy transla- tion to the Far East service.
Each vessel features a ce taurant big enough to serve all passengern at one sitting, open- air swimming pool, cinema and special facilities for children. Among passengers saling Cathay from Southamplan Wednesday will be Shari! Hus- Fain Bin Ahmed Al-Habli, Prinic Minister of the Federal Government of Arab Emirates of the South. Aden-Reuler.
in
on
New company for gear
production
London.
Garuda increases HK-Djakarta flights
Garuda Indonesian Airways
has
announced that its existing weekly services butween Hongkong and Djakarta will be increased to twice weekly common- cing today.
Mr W. J. Kambey. Goruda's District Manager, Hongkong stated that the frequent and fasteel service to Djakarta and Bali (Denpasar) is a great boon 10 businessmen and tourists.
The direct flight by Lockheed Electra II takes only alx hours and five minutes and. It is the fastest service between the two cities. Today's fight CA 902 leaves Djakarta for Hongkong The UK group, David Brown direct and the return fight GA Industries Ltd. of Hud-001 to Djakarta on Wednesdays is via Manila with stopover for dersfield, England, have one hour. Flight GA 900 from joined with Richardson Djakerta arrives Hongkong via Gears Pty. Ltd., of Mol- Monile on Fridays and CA 903 bourno, Australia, to form is it direct aight from Hongkong
to Djakarta on Saturdays: d new Australion based company to be known as Richardson David
or
Gears Pty. Ltd.
According to Mr Kambey, passenger traffic statistics for Brown the past two months show a
marked increase since the in-
The agreement will permit aauguration of the Hongkong- free exchange of designs and Djurkaria service on May 10 patents and by pooting resources and the first flight a week later. both companies the now He expects a "further increase
the introduction company will be able to provido | after
of the 2.75 9/16-2,30 11/16 a comprehensive range of gears | second weekly flight. 107 9/10-2.07 11/15 | Kor Australian Industries.
Garuda maintains a fleet of Both companies have a long three Lockheed Electra lis, 10 record of gent productions and Convair and 17 DC-3s. The have been linked since 1980 present laternationst schedules: when an agreement was con- include flights to Hongkong, eluded covering the mmufac Manila, Singapore and Bang- ture of David Brown Radicon ok while plans are underway unity in Australia by for extension fights to Tokyo, Richardson Geats Ply. LIGA DORy nd Madras
near future.
10.91-10,01%
130081%-120.00
10.00-19.31
NEW YORK Closing prices ali i cents per la 1b.: 32.00 unch
Cotiper July Dept. Oct.
11.00(-11,069% D0.10-50.75
20.30
3050
Parto Blockholm Biligh VIOLA Zurich
29.9746-10TEL 33,05-13,001 302356-1039IY
71.87-71.00 1807-18.0212
UPI.
LPS.
1120.
Rebr
In the