Page
THE · CHINA MAIL, TUESDAY, JULY 25, 1961.
WALL STREET CLOSES LONDON STOCKS
London) July 24.
Paint Industrial stocks** gulyad
ground today when iny
WALL STREET IRREGULAR AUSTRALIAN
CHATTER
New York, July 24. Joseph E. Granville of E. F. Hutton and Co. says" the market's declino since it hit its May peak is not soon to be an important one because business indi- cators are showing that the economy is "In the earliest third of a major business upswing.”
Bache and Co. saya obviously Important buying power is till Jacking in tho market, but technical Indicators suggest that
one
of
intonsivo wave selling may be all that it necessary to clear the alr and set the stage for an important rebound.
New York, July 24,
Stocks turned in another listless por
formance today, closing irregularly after late profit-taking cancelled a mid- day upswing.
Steels, rails and gold mining shares received a
good measure of support but many oila, elec tronics and companies which had poor earn. ings reported lost ground.
Eastern Air Line
Pullman, Inc, dropped about four on a bad six-month state-asta Kodak ment while Honolulu, Oll tell about three after postponing aj meeting to consider the ralu of Its asset. Johno-Manville Was the other major weak spot, oft
about two.
|
243
| El Paro Natura Gai
Family Finance Corp. Fatestone Tyre de Rubber fist Nat. Lity Bank 2 MITAD BATA- Ford Motor General Dynainles General Electric
General Food
Ceneral Maiore
Gen. Pub, Uul Gen. Tyre & Rubber Getty Bit Glidden Co.
Steel shares were the day's mandout group despite a slight drop in production last week,
4. F.).Co. U.S. Steel adding couple, Goodyear Tyra Bethlehem about à poing along Griman 'Afterpét,
Gulf O with other leaders.
Hammond Organ
2
אי
EXPORTS
WILL GAIN'
Melbourne, July 24. A fodding Australian econa, mint bollova that if Gri. tor enters the European Common Markof the eyor: all outlook for Australian Apports will impJOJO..
This optimistic view, contrary to the gloomy forecast of most Australlant
businessmen, was 4035
it made by Sir Douglas Copland, 11% He is director of the, Interna
tional Institute for Labour Studles in Geneva.
074
2014
included
Hayden Newport Corp. itempsiako Mining Co. Idaho Power
Ingersoll-Rand
B7%
Inard Steel Co. Interchemical Corp. Int'l Burners Machiper Int' farverler
4915
KEH
Other Arm spots Goodrich, United Shoe, Ameri- can Chile, General Precision, Bendix and Ford. U.S. Gypsum rose about three.
Polarold, Universal Oll Pre-International Nickel Those who now bellove there ducts, Merck, Kerr-McGee, Monternational paper
economic tools will be an
and copper shares Johns Manville Co. "boomlet" in the last six wenkened around a point or so. Kaiser Industries
Today's of 1961 and a
volume was 2,490,-Kentecait Copper months
Kimberly Clark boom in 1962, can't help 000 shares, feeling that semiconduc tor companies will fair very well and that other basically sound firms now in varying degrees troublo will racover woll too, according to Laidlaw and Co.
Martin
of
OI
12
total
1,233
traded, 454 were higher 539 lower.
Bonds amounted to $5,730,000. Dow-Jones closing
Minnesota Mining
Mission Development Monsanto Chemical Co.
Copland, welting av an econo- mio gdviser to leading Me beurde Investment fri, said the Improvement would
occur akandori- despite the ultimate
of Commonwealth' frade ment
He believes de- preferences. mands for Australian wool and metal would Incrense. Beef, wheal and other food markets, he said, could be expanded among Australa's Aslan neigh- bours if vigorous action
ad
RISE
Textiles
Bradford Dyers
sa
Printers Ori—IU. 1354.
Costa JP Palan & Brawlha-420
Courtsutils Ord—356.
Vine Apner Grd-371. Lanenaire Cotton Ord-598,
Brewerian
fors went after the loaðama in a gamble on the government's economic programme due tomorrow, Sellers held off, and in the rises often thin market sharp outdid the volume of businças, Engineering equities forged ahead led higher by Metal Box and Tube Investments. Steels improved and even shipping
Great Universal Ord-33m 04. shares met demand. Textiles. Crea Univerant "A" Ord-50% electricals and stores shared foyd useful gains.
iduse of Fraser Ord-584 3d. Lyonu (3) "A" Drsh=156*1344.
Spencer "A Ord-100. Tate & Lyle United Drapery Urp-470 1150.
Woolworth W.) ded.—35%, id
Unilever gained three to 139 shillings, Courtauld gained the shilling to 28 shillings and Chemical Industries Imperial jumped 1/14 to 68 shillings.
Glit-edged responded 10 Hernand"and · Improved up to £ihar Lash-316" per ocats closed at 63-13/16ths. Dollar stocks were mixed. US. Steel and Bethlehem each put on 11⁄2 point.
Shell took plls into higher. ground with a 3/2) Jump to. 122/3.
Tins fell away but gold mines came under selactive buying and improved. Coppers, firmed.
Both rubbers
and hardened. UPI..
Closing prices
stitors Co Ords d. Dulants (Arunur) Ord=420.
ina Coops-
Storea
AllscellaneoUN
Bowmaker Ord-15% 75%dt. Brit. Commonweal Ship. Ord-37a 1050.
*Canadian Pacifio. Örd-#44EL.
„Tuners Gleamulla.
31.
Forestki Lina' K TAJUus itid.
Furces Wlthy Ord÷40s 11. Hongkong China Gas--17 Hudson Bay Com-EBH Indo-China Dat. Ordi B. Land Securities Ord-204 34. RO. Steam Nav, Def378 44d. Drülen Tui Taveatment-158. Do Door Del-155a “d. London Tin Corp-10 3d,
10 d. Petaling
teas } 1011⁄2d
British Government Securities 21. Consolidated-£103/10/14
Conversion-B 1. Savings 1055/65-2006. - 1. Bavings 1960/70-78}.. 1. Baving 1965/75-209-1/10,
*Loun+£63-13010. 3. War L were
Ovetinas Bonds noted
German (Dowa)—£§215. 14: Japanese, Achsed£150.
10 taken by Australia. He
that the economic growth of these Asian nations is high.
Copland said: "I is true that some adjustments have to be 101% made with some commodiiles
BA
1749
issues
Liggett de Myers Tob. Co. Lstion d.
ay
124
Lockhead Aircraft
473%
and
Loews Incorp.
Lone Blar Cement Co.
| Lowenstein & Song.
1천35
McDermoil J. Hay Merek
Mesabi Iroa Corp.
averages
were!
30 Industrials, 082.14.
20 Rails, 135.20.
16 Utes, 114.10.
of
Van
65 Stocks, 228.54.
01
Co. the ita
10 Bonds, 83.70.
Comm. future
price
$18.22.
Gilbert Alstyne, Nool and
says as
jong maintains market position in the same trad- ing range of the last six wooks,
the implications
are favourable.
Even if there were a break
the 671-73 support through b
Jones indus-
level in the Dow trials, we would cularly concerned, adds.-UPI.
not be purti-
the analyst
Cotton market
Now York, July 24, Colton futures began the day higher on unfavour. ablo
Closing prices
Alden Inc. Acy.
Allied Chemicals
Anted Mills Inc.
Allis Chalmers
Am. Brake Shoe
American Airline
Amer. Cable Radio Corp
American Melo)
Ampex
Anaconda Copper
Armco Steel
Armour
Atia Cons.
Mining
henguet Coss.
Bethlehem Strel
Menigomery Ward Motorola Inc.
National Biscuit Co. National Cash Reg. "A"
National Dairy Prod.
National Lead
National Steal Corp. New York Central Norfolk & Western By.
index, North Amer. Aviatium
Northwest Airlines (Com.)
On Mathieson
Oils Elevators
| Owen-Illinois Glass
Oxford Papar Co.
|Peciño Gas & Elec.
Pan American Airways
Paramount Pictures
Parke Davis Co.
Penn, Bait Co.
82
Penny J. C. Co
421
2011
Philip Moril
4715
Peocier & danible Co.
24% Pittsburgh Plate Glass
11%
+21
Publicker Industries
Pure Oll....!!
Indio
Republic St
Southern Natural Gas S Southern Railway (Com)
Standard Brands Standard Oil of Cal.
Amer. & Poran. Power
Americar Cyunatald Co.
101%
Am. Mach. & 'dry,
4311
20
Reynolds Mataj
American Starting
#14
Reynolds Tobacco
Am. Sugar Itef.
2014
Royal Dutch..............
American Tel & Tel
110
Sears, Roebuck & Co.
Anierteen Tab.
Shell Oil Co. ....
18
Bufeway Stores
53%
Saint Hez. Paper
741
Scott Paper ..
Siegler Corp,
UIL
Sinclair Oil.
Balth, Kline & Frenchi
Baldwin-Lima-[am.
153
Baltimore & Ohlu
ZUL
Socony Mohit
Bendix Aviation Corp.
845
South Puerto Rico Sugar
Southern Co. (The)
4215
Borden The Co
eping Altplane
40
6114 Sperry Rand
Burroughs And Machine
but
allt. Packing Corp.
Cana. Brewers
47%
100%
Steep Rack
Sterling Drug Co.
#4
Stokely-Van Camp.
30%
Tab 0212
Texas Co
Textron Inc.
00%
Thickal Cham
151
Tide Water Ol
44%
Time Inc.
Time Inc.
4 Travellers
2015
Travellers Inc.
Tri-Cont. Warrants.....
5434
sty
10
nows crops
as hedge-soll
weakened
Campbell Soup Co.
ing and liquidation In-Canadian Pacifle R.
crossed.
Care J. 1. Co:
Cat. Tractor
Celanese Corp.
The cotton crop made fairly. Financial Corp.
good progress in the central belt despite rains but is about 10 to
21 days late.
Mili interest was reported fair
to good tur medlum grades of spot cotton.
and low
After opening Ove higher to 10 lower the list at 2 pm ruled two to 20 points lower.
New York closed 10
points
Manhat Bank
Chrysler Meters Cluett Peabody
Геса Cela ....... Colgate-Palmolive Co.
columbian Carbon Co. Commerclat Credit Anulated Edison Continental Cam Continental Oil of Dei. Crown Zellerbach
Cuban Amer. Sugar
Delaware & Hudson Co. Diamond Alkall Diamond Natl three Douglas Aircrafi
lower to five points higher while New
Anished Orleans
Dow Chemtex)
points higher to 10 lower-UPI; Dupont de Nemours
P.O
ORIENT
LINES
R.M.S. "CANTON"
EMBARKATION NOTICE
Salling for
UNITED KINGDOM
Blandard Oil of Ind.
Standard Ou of NJ.
tudebaker-Packard Corp.
Sunshine Mining
Switt & Co.
Twentieth Century Fox Film
Union Carbide
Union Oil of Cal.
185 | Union, Paciße Hallway
4214 United Aircraft
43 United Frull ........
122
United Gas Corp.
7514 U.S. Cypaum 215.3. Line Ca
via SINGAPORE, PENANG, COLOMBO, BOMBAY, ADEN, SUEZ, PORT SAID.
EMBARKATION: The ship will be berthed at No. 2
BAILS:
********* Pler, North, Kowloon Wharf. Passaii- gers should embark between 280 p.m. and 4 p.m. on Wednesday, 26th July, 1961.
BAGGAGE:
The ship is expected to sail at 5 pm. on Wednesday, 26th July, 1961.
Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 Gate), Canton Road, between 8 a.m. and 6 p.m. on Tuesday, 26th July, 1901.
SUBJECT TO CHANGE
Agents:
MACKINNON, MACKENZIE & Co.
OF H.K. LTD.
P, & O. Bldg., H.K. ・・
Tel. 86211/9.
Rubber Smelting US Steel
U9. Steel 7 PC. T
Warner Bros,
.. Westinghouse Ale Brake Westinghouse
ectrie.... Western Uulan Tel. Co. West Va. Pulp & Paper Winn-Dixto Stores
Woolworth (K. W.)
Zenith Radio ....
UNIT TRUSTS
212
but this shouldn't be an in- 78% soluble problemi Australians 29% should remember that the pro- 51 portion of our exports going to 634 the United Kingdom dropped From 40 per cent prower to 30 per cent today but this has not By prevented an increase In the total volume of Australian ex- ports and expansion at
9432
991
101
佳品
271
continued high_rále."—UPI.,
New York
sugar
Bánke di Insurance Barclays Ord-171_5d.) Chartered Bank-dia 34. Quardian Assurance--áða 34. Hongkong Bank-218 Landel Frustasta 3d. Lloyds Bank
Lombard Basking. Urd,-778, National & Grindleys 318 Ed. Prudentia Assur, "A*-C. Bank of Canada--22), Royal Insurance Ord.-150s fu.
British Petroleum-436 $d. Burmah O1-37#"_00. Shell Transport Ord-122 3d,
Dutch-12
Ultramar Company-2015
Babcock
д
Now York, July 24 World No. 8 sugar, futuros today closed unchanged to three points lower with no sales reported.
Domestic No. 7 sugar closed 491% uchanged to two points lower
with sales of 40 contracts.
21
43%2
Futures opened dull with both world, and domestic con- 3291 tracts unchanged and untraded, It has been rumored thai ad- 4044ditional operator Buying of 499 Indian wfiltes developed over the weekend at about 0.3814 cents a pound delivered basis.
T
Cuban raw sugar was offered for resale out of Germany, on a basis working out about 2.77 cents per pound 1.o.b, stowed Cuba UFI
Steel Engineering
x Ord-29%.
04.
Dorman, Lang--31. Guori. Kern Ord-004 155. Harland & Wolf Ord-16s lotso. Metal Box=80 10140. Sreet Co. of Wales Blewarts & Lloyds Ord--45s Dd. Summers & Sons Ord-Bla 3d, Tube Investments-das da United Steel-55s. Vickers Ord-s 111⁄2d.
Electric
Assoc. Elec. Industries 38 66. Birmingham Bound=371. Brit. Electronic
Elcc. & Mules 37
English Electric Oid-32 General Electrio ·
00,
Jd.
Lamp Work & 10-2/19, Rediffusion Ord-30 3d,
Industriais
Rhodesian Anglo-Amer. Ord-56
hokona Carpad. Rio Tinto Bearer)-dis 7150. Bean Antelope Copper-de Black Trenon himes-138d xd Union Corporations 1994. Welkom Gold
Western Holding-201 Du
Southern Malayan Tic—33s.
Rubber & Tra Anglo Indonesian Plants 3d. Ceylon T Gods23a öd. . Imperial Tea
--34 3d. Kuala Lumpur-kon Lambak Rubber 3,
Kleuter.
----
Chicago
grain market
Chicago, July 24. Most grains advanced today on the Chicago Beard of Trade, although nows that the government will sell sorghums of market prices caused selling in foed grains.
Wheat closed up 1 to 14. soy- beans up to 2.
Active demand from mills and
Asoc. Portland Cement-772 10140.commission hoses raised wheat Boardman Marden Ordul T Borax (Holding)-17 d. Decca Recorda Ord-504 9d. Dunlop Rubber Ord-25% 30.
Ord-45% 10d.
Chaman Holdings) Ord- 10154. International Computern-Big $3. Turner & Newell Ord.03% Flad. Unilever Ord-1s.. Wiggins Tenpe Ord--50s
Chemicals 40 Imperial Chemical Ord-60%. Monsanto Chemienia Ord-3]k.
Television
Cinemas Assoc. Brit. Plesures-s. Hank Organisation Ord-27. Stol Theatre per
Bowater Paper Ord-55% 30. De La Rue Ords 04.
"
Spicer Ord-47 30,
Tobacco Bellah-Amer, Tob. Ord-00s.
Ord-ga 4140. Imperial Tabayen" Grd-fi.
British Mater
14# 10145. Hawker Siddeley Opd-39%, - Jaguar Cars Ord-98 71id, Rolls-Royce Ordutik, Westland Airerary—te de.
·
futures. Hedging was slow, ow- ing to weekend rains which hindered harvesting in the mid- west.
Airfreighters fly more than a miles million
Armstrong Whitworth Argosy airfreighters — on which manufacturor's develop- ment flying has just ended -- have flown more than a million miles since the first aircraft flow two and a half years
ars ago.
HONGKONG STOCK EXCHANGE
by
Our Own Correspondeat
Business done on the Hong- kong Stock Exchange this! morning amounted to approxi- rately $1,400,000. Noun quota tions and the morning's transactions:
shores
HK Bank ..
HK Bank
Last Reg. E. Asia Allied in. Whart
Wheelock Wheelocic
1
Buyers Sellers
Ada
Balan
280 ( 396 30796
20 + 300
1 110 1000
2.63
2500
4.00 1500 2.00 v2.80 1500 20 22825 $300 2,85 HK Dock 111 113 1600 11 Taikoo Dock Provident 334 334 1000 ( 3014
1900 # 331
1000 335
46
-500 re 4514 1000 45
Hotel.. 4512 Lanity 2.00 2.03 15000 8 2025
K, Really
(Now)
No HK Tram
International tensions ani expected boosts in 1982 support prices also helped wheat, export sales were reported, but offers went out in Portugal on nearly two million bushels of KM.B. hard and soft red wheat.
Processor buying lifted September soybeans more than | a cent
The U.S. visible supply of when't this week increased by
17,494,000
total 'bushels to 477,325,000 according to Board Soy. of Trade statisticians, beans last 8.208,000 to leave 13,557,000 bushels-UPI.
COMMODITY PRICES
RUBBER
LONDON
Closing prices all in pence
Seillement house term:
American Contract
Mixed Contract
per ib.:
July
77
No. 1 Res sput
2415-241
10214
-UPI.
Aug.
#411-24T
Mer
July Bapt.
May
Cut Doc.
July
Jan/Mar,
Oct.
Apt.Aune
July/Bept.
Fleet Hongkong Fund: $1,81 (buyer) $1.39 (seller),
Second Hongkong Fund: $8 cents (buyer) $1.04 (seller).
AMERICAN STOCKS & COMMODITIES
WHEN TO
"SELL
יו
General markets, c.11. basie, port AUR.
2413-201 Blept.
241-294 Eists crepe thân Aug,'s
thick Aut... 27 AMSTERDAM
Closing prices oil in guilders
per kilogram, c... Aug.:
No. 1 rubber
No. 1 rubber
No, rubber
No. 1 erepe
***
3.27 buyers
3.25 buyers lb.
224 buyers
2.30 buyers
COTTON
"NEW YORK
-UPI.
SUCAR
NEW YORK
Closing prices, all in cents per
Contract No. # (world) Oct: 1; Mar: 299, May: 339: July: Sept: 200; Spot (World
Average: 3.00.
Total Balen: None,
Open Interest: 831 contraeis.
Contract No. 7 (domestic)
Bipt! 6.58; Nov: 628; "Mar: 0.24; MAY: GRAY July: 020; Spot¬(Bulk, auty paidy: Cak
Total Sales:"40 contracts,
Open Interest: 2.020
UPL
prices all in cente
0440
35,00
contracts.
METALS
NEW YÓNK
Closing prices all in cents per
Closing
per Ib.:
Spol
Gel.
Dec.
To,
Mar
MAY
PROTECT PROFIT
July
Oct.
CONSERYN
Dec.
PRINCIPAL
NEW OR Closing pric
in cent b:
per Ib.:
Bpot
12.16
July
Det
34.00
Sept
10.00 1030
Ded.
30.17
Mar
10.10
May
1170
Ju
Copper
Put
Yuty
Dec,
"Closing"prŻOWE
In pence
Krosarch Dept.
PERENNIAL TRADING CORP. 916-418 Rambut Hous Fong Kong
LONDON
Yaurack
Ch. 24ght
Electric
HK Tele.
JUK Cox
dilman
Jardines
0.1. Cement" Dairy Farm
Textils
Nanyang.... Amal lub.
4154 4124
600 F 7445 GOOD 2.50 27000 2.625
3250 6 255 100413
100 42
0 20% 1000
300
All ten Argosies which Armstrong Whitworth Aircraft built in a £13 million private. venture have now been de- livered, or are being prepared
for delivery to the first two customers-Riddle Airlines mo. of Miami, Florida, and Brillah European Airways,
Six of these ten aircraft were used on development flying and between them lögzed 2,200 hours in 1,434 Alghts involving '1,251 landings. Riddle Airlines' first three aircraft logged almost as many hours in three months of operational dying as the total flower during development fly- Ing.
Armstrong Whitworth say that with the development fving on the military Argosy C.Mk.1 and Riddle's operational flying, more than 5,000 hours have now been flown on Argosics. Throughout all this development and opera- tional flying'an extremely” high rote of serviceability 28 emerged as one of the Argoxy's outstanding features.
The aircraft which opened the Argosy development programme first production aircraft G-AOZZ-also carried out the final tests, These were a 'series of Investigations resulting in t successful solution to minor ‘aldų cracking problems in the tall drea and trials at a maximum
landing weight of 84,000 lbs. compared with the certigeated weight of 80,000 [bs]
This increased landing weight will greatly assist both Riddle and BEA and an amendment to
the Type Certificate' to cover the increase is now awaited!
·Development and production
test flying will now be concen- trated on the Argosy C.MK.1 until the Argosy Scrie? 200 with Rot box-apar
250333
-30% 40% 2000
20.50
41 4135
07.03
0:33
Stub. Trust 7.70
Closing prices, all in sterling Kelantan ...
per long ton.
Tia apot
3-month Copper spot -montif Lead spot
3-month
Zing spot
i-monit
City Hotel 40%
Aincere
Int'l invest
15.80
Bayers Kellors
Dock
Mine
Rope
2558
924
Ifetal
2342
FOREIGN EXCHANGE
NEW YORK Closing rates:
My
,00-15/10
2.7005
Canada
Bagland,
official
DO-days
2.7300 2.7500
Austrália
New Zealand
Bouth Afrles
Belgium
Dark
France
W, Germany Halland
Norway
Bwede
Bwitzerland India Hongkong
LONDON
Closing rates; New York Montreal Amsterdam Brumole
Copanjiofor
Blockholm MHIGH
Ruleh
2-2285...
7703
Amoy
Lane Craw. Construation 10.70
wing and other Ime provements begins Aying' in 1003.--LPS.
Engines for HK yachts sold in U.S.
ROW
Marino diesel enginos bujit by the U.K. firm, Perkins Engines Ltd., are being fitted in Hongkang- built yachts on sale in the United States.
The design and construction of power and sell yachia bulit în Hongkang are being promoted 1035 @ 4114 · | by Balboa Marine, a'ynicht sales organisation based at Newport Beach, California, The .s. Bim is at present concentrating on the production "of a 50 ft. palling yacht known as the Lap~- worth Fifty. The Füchts are fitted with Perkins --Four 98-
a 40% ** 50%
1000 4 2.40
500
Health citation for APL
| diesel engines with a 2:1 reduc- tion' gearbox supplied and Installed by the Hongkong bulldor; Cheoy Lee Shipyard.
Mr John Granath, Bilbao Marina's tales manggor. zaghe "We are greatly impressed by the performance of this 60 fooler. With a three bidde (17– inch x 10 inch propeller the yachi deveteps 64 knots at 3,000 г.p.m."
4
The Lepworth Fifty has a strip planked mahotany huit, 'Abre- In recognition of American gots decite over marine plywood, President Lines" contribu- | with teak Interiör fillings. Other tion to public health, a equipment includes an alumnium special citation was pro-nast, roller reading boom, bow sented to the Company in and stern pulpite with stainles steel felines, - stainless staci San Francisco racently by rigelbe and gimballod stove- Abraham Ribicoff, LPS. Secretary of Health, Education and. Wolfara in
· Prosiduot ́ ́ Kennedy's Coblast.
The feet citation, awarded to
APL for the third consecutiva
Tanker handed over
to owners
year, is for outstanding per- The single screw steam tur-
ม.
formance
publis healthi
board each of the Company's!
ships. During 1800, each of the 24 Iners esmod a rating of no [of above on an offiofal: Public Health Service Inspection In- 1.78 7/16-175 PE20 võlving 100 separato. Iterom” of 137 2/19-287 8/10 sanitary construction and mali 19.00-10.99 1RRY CID:554
1100-10.00
EL
tenarice.
;
bine'fanker Clymeno con«' structed: by Hawthorne Meille (Shipbyllders) Ltd., Hebburn on Tyne in North East England, hús baan" handed over to the Hadlay Shipping Co. Ltd. Londen.
APL's President George Killion) congratulated the operating pef she completed final tilnis off sonnel aboard wil the shije for the Tulver Tyne early in July, thole diligent efforis, to deep the] The *16,600-ton)| deadwèla?
high standards of jolaselinom, kisker has been "Mopedske {füst | resulted in this highly ideegned_to, curry' petqiell
prized Awaril.