THE CHINA MAIL, TUESDAY, AUGUST 29, 1961
New York stocks London market HONGKONG World's monetary
advance on light trading
New York, Aug. 28.
slightly firmer
London, Aug. 28.
The London Stock Market moved cautiously out of the doldrums today to develop a slightly firmer tone.
After recent dull trading sessions, British Government Bonds attracted investment buy ing, and small selective support
the industrial sector.
Stocks advanced a little on light volume today with a higher also brought a better trend to
stool group lending some encouragement to a cautious market.
Gain of a point or so were sprinkled throughout steels, electronics, foods and other defensive issues. Profit-taking appeared in a number of key industrials and recent heavy gainers to give the list a generally ragged appearance.
་
The cautious atmosphere will, Forning Glass Works
refected cameerti over the Berlin situation and the strong threat
of is but strike among "big 3 car makers.
The Dow-Jones Industrial average bring on to a small geia.
strongth
US Steel
1
it
and Gamble, Eastman
UraLesen Carbide
Procter
Kodak und
Du Port was a weak spot, off more than four at ile wurol.
Today's volume was 3.150,00) ahans
Of a bad 1,721 sinres traded 489 were higher a 90 tower.
Anorirani Exchange volume was 1,350,000 shares.
Bonds lone amomile
$4,780,000
Daw-Junes closing averages:
39 Industrials, 710.01.
20 Rail, 112.34.
15 Uuties, 119.97.
65 Storks, 23791.
40 bonds, 1947.
Comm. future
147.92.
Consellcnter aliam
Conkerated Papers
Comminiers flas
Continental Can
Continental Oil of 'tivi Krane Co
Culin Anker Spar Delaware & darm CA Bland Alkali Brand Nati DISTERS FRAUDE TATIAN Drugs Anorart
Dow Chemi
Dupeut de Nemuntis
· Bastern Al Fine
Basinan Kitak
RI Pro Natural Gas
Pasoils Finance Chepi,
Puestone Pare & Hudied Just Nat Tidy Bank Fest 2001 4115 Fath
Fort Molop
Clement Depanifes General Electur
Cer) Ful
Cleared Matur
Gen Pub BAI.
Glen Ty & Rubber
tirty Ol
Gronk
Goodyear Tyre
Graan Amrefl
Gold Cal
prices index, Hona Degan
Closing prices
Abitibi Pur de Piner
Alien Toy, Aey.
Atrine
10 Portland Cie. Kle.
Incastries
15 | Publicke
187
Pullman
Pure E
4494 | Baglia Chrporation
Raytheon
Rupubile Strel
1891 Heynous Metal TNG | Raydads Tubacen
445
Hayal Bank of Canad Etuyel
B
Shell ou co
2
Saleway Stores
Saint Hex Tape:
1K
19
42
13
233
324
Seligotry Inc.
203Sent Fager
Megler Corp.
Binclair Oil
Smith, Kile & Free
113 | Sorona Mubil Oil
Soul Pueris Rien Sugar
Southern Co (The)
Smale Naturel Gus Sauthera Paeille 470
Sperry Haunch
Square D
Sundard Brans
14: Standard 011 of Cali
Stendard Of 14
Stuttard Oil of N.
Stort Ch. of Canuda
* Steep Back
Sterling Drug Lo
31
20
65
5214
Somber Railway
Sunshine Mining
Textron the
But business was still affected Berlin to some extent by the troubles and prices mainly (mingish within nrow limits.
Gold shares showed gains but were generally quiet. Tits moved phend but coppers closed caster.
some
Guardian Akatiponce- 126, Hongkong Bank-1724. Lloyds Banking Orn-14 d.
Lombard
National & Orindless-1.20. Prudential Assur.
£22-11/16,
Hayal link of Cariadis-4284). Royal Insurance ord.-136% 2,
O
British Poiroleum-45 On. Hurmah O-55# 1st, Shall Transpurt Ord-! $0. Rayn Dutch-1)-9/t. Ultramar Company-20 41.
Steels Engineering Julirock Wiletx Ord-20′′ 71,0. Calvillen Ural-595 Get.
bul
Borman, Long-20_6d Guest, Reen Ord-
Jet.
O shares opened dul Failled later to show smalt goins on balance.—AP.
451, 40148
DNANIE
10%
3434
10%
321
36
1461,
!
21
Heyden Newport colp.
2014
Kiokety Van Camp
Stone Winder
tha Waiker
Ext
Studebaker-Packard Corp.
Domestale Mining Co
福
Hanuman Relate
20%
Swift & Co.
Idaho wer
+107,
43
Think Chem.
penal foluere
15
Tile Water Ou
Ingersoll-Rand
* Inc.
327
308
Kit
Interefemdeal Corp.
Traders Finance
JRET 1 Naciones
510
Travelers Inc. ...... 1796 14804
24
Jati Harvester
Tri-' Watragla
-11E
Internatiound Nickel
1214
Twentieth Century Fox Film,
221.
Internetal Paper
Union Carbide
134
lath Tel & Tele
We at Cal.
491
Jubn--Manville Co,
CIL
Butan Pethe Hollway
Buhed Atreraft
712
Kenneents Copper
imited Gas Corp.
43
44
Idly Top
67',
Jon Ion.
Zaklicet Aircraft
1213
Low incip.
FOX
Kaver Info-tra
Kimberly Which
i bingell & Myer. Tod
#29, te Fruit
SMS. Gypsum
. . Line,
140 U.S. Rudiber
4. US Sulung
US Steel 7 PC FF
Ziganan Steel Varp
Allied Phensteak
Allied Mtlis tuc.
Allis Chalmers
Am Brake Shoe
A Ratay p
Am
Amiertern Byananit del
Amer & Förgn. Powel
Am Gas & Electric
Am Itume Prod.
Mieli & F'dry
Ant Natural Gas
Auetients Smeling
Am Sugnt
Aubertet Tr
Anverters Peaty
Angoar
Ampe, Copper
Asbestos Comp Balwlo-Tabua-Itam.
Balinese & C
Bank of Montreal
Bank of Nova Senha
Beech Jilfe Savers
Bell Telephone
Henedelal Finance
Bendix Avistien Porp,
Benipart Cona.
Dethirhen Steet
Boene Alpokane
Borden (Phen Co.
Burrough. Add Maellars
Bet Ames hi
British Columbia Pvt.
Canada, 84 of Commi
Cana. Biewers
Canadian Pacile it. Case 17. 1.
Cat Tractor
Corp.
Chose Mankirt Bonk
Peality Che Cola Commerelst chedit
Late Star Tenni
1.
Beds & M
MeDrimutt 1. Ray
au binnell Atrerait
3027
1 DATA; Paramount Pictures
Cult Parkinat (^lity.
Campbell Soup (n.
National Trad...
Nailonas Steel
Westera Union Tel Co.
Va Putip & Paper
Winn-Dixie Stores
Woolworth K
Zenith Radio
W.
METAL MARKET
2421
US Steel
Warner Bro
E+
Waukeshaji Mutora
434
Westinghouse Air Brak
HO
Westinghouse Electric
Aleich
Maeda Mu
West
75%M
Mensanto Elemurat Ce
SU
Menteri
Montgomery Sweet
alototota the
Nathal scuit Co.
National Padi Res "A"
tional ary
Prod.
15
17%
Noranta Muse
Lid.
200 fok & Western y.
North Amer Aviationi
Northwest Airlines (Con't
251
Oklahoma Nat. Go
122
Ola Melem
924.
Ol Flevator
4009
Orland Paper Co
30
Parte Gas & Elre
20
Pan American Airway
174
S
Pen Salt C
Filt
Pill Mar
55
copper strikes In Chile
AB
Pasturen Plate Class
Ulah. UPI.
Pines Bewer
JAP
3512
R
219
2512
21523
1424
FLE
36%
201
42
40UP
3812
351
7813
1:324
New York, Aug. 29. Copper futures today closed 16 to 21 points higher with sales of 260 contracts.
Increased demand for copper at New York reflected higher prices at London. Local copper values advanced slightly
ent a pound.
over
Futures are beylaning to re- flet the
influence of
Closing prices
British Government Securities
306 Conversion— 25
Dr. Savings 1900/0008-9/14.
· War Lomic A 52984.
Brersrus Bozadi
91. German (nawet-CHE, 5. Jubarese, Assented-efón,
Berks & Insurance Harclays Ord−05%.. Chartered Bank-Silk dd
Chicago grain market
Chicago, Aug. 28.
(ell Grain futuras
back under scattered selling and o light domand to. day on the Chicago Board of Trade.
and soy- hot weather
Deolers sold cora beans freely
a sunshine returned to the midwest.
The
weather VIS expected to speed maturity of evops, which have been reported behind normal in some Preas,
Some selling, of grains Was attributed to fears of #local elevatur strike. Negotiators were scheduler to meet tonight in an effort to reach #grovment 4fore the old contract expires
on Thursday.
When ran into
Tedge als and selling led by local truders. Prices fell a cent or more from early highs of the day before
bear the ralfying
cluse. The the
market held
stendy initial hour on buytig bei com- mission and commercial frousts, -UP.
Exchange rates
Business was dota in live Biocini murulog at the following rules:—....
Harlan A West Ond-17% 24. Steel Co. of, Wales-3da id.
1
Hinwarte & Lloyds Ord—42% 10134, teners & Sone Ord-43 Tube Investineista-õla DJ. United Strei—1290
Vickers Ord-324 Bd.
STOCK
EXCHANGE
by
Our Own Correspondent
Business done on the long- kong Stock Exchange thin morning amounted to approxi- imately $2,000,000. Noon quota- tjons and the morning's transactions:
Shores Buyers Hellers İK Dank 372 374
Allied Inv.
IK & FE
Inv.
Wharf Co. Wheelock
ཊ་
10.20
1
193
Bales
5378
19 320
206 40 aje
3372 114979
10 12.20 3000 27 11,30
3000 14.30
au
الله
outlook is gloomy,
expert says
New York, Aug. 28.
Currency expert Franz Pick said today that the world's monetary health deteriorated during the past year and the outlook remains gloomy.
0
He reported In his annual | London price of gold from "Pick's Currency Yearbook" $35.15 to $33.18 within a
Pick Publishing Corporation, week, he said, compared to New York. $40) that between normal price of $35.07-98 before July 1, 1000, and June 30, 1901, the softening US dollar
than gold searing-UFI, partiar
were
Dock
Talkoo Duck Ch. Prov.
K&S. Hutel
165
107 100
100
100 100
MDG 2015
.500 ... 36
there
"'not seventeen full devaluations."
405.
Orl-31k
1000 o 60%, 10000
Elerttle Asso. Eler. Inchistring=358,
· Aune, Televāstam "A" 14.
Tin. Electroste înti--108 190
Teit. 2014. Curientlar Ord-səti 64. Free Mun. Industries-37 dit
Ord-2 nd,
glish Bric Oil---2
General
Play Boop Works 10-1/12 Rediffusion Ord-40 1012th,
Indessuteikis
Assoc. Portland Cement-3111. Hartman Murden Oed-4 4
Barak
Deen Ite
Dunlap Bubber Ord-20s.
Fists Ord-37%.
Gilan Holdings) Ord.--196 344. International Campaner-128 30. Toner & Newall Ord.--036 112d. Unilever Ord—140%.
Wiggms Tempe Ord-184.
Chandrale
} On-6x 4'.
On-
Imperial Chemical
Monatti 11.
Cinema & Television Assur. Brit. Pictures 1944 Rank Orgontration Or:l-289 72d. Stall Theatres~05–71jd.
Pance
Bowater Paper Ord-Sta.
De Ln due Ora—3k. Heed Altiert El Gals 911, Spicer Ori--k.
Tubarcos
British Amer. Tub. Oril-659. Carteras "D" Ori-4s $10. Hupertal Tobacco Ori
Miuturs British Motor Ord-13, 1959, Hawker Sichileley Ord-3 ch.
Cara Ded-08% 19ad. Ras-Royce Ord-sc. Westland Aircraft-178 10bit.
Textiles
Bradford Dyers-10% ed. Catico Printers Ond-12 del. Cut P Patin & Didwins-42a 44
Curtains Ort-3 kl. The Spinners Dert-24x Od. Lamensntre Colour Ori-55.
Brewerles Distillers Co. Ord.-95a 10d. Sitness Arthůři Ord-518 24. In Cone Ord-128 7tad.
Hluers
Great Talversal Ord-52 ct. Great Universal “A” Ord-18% 111⁄2d. House of Fraser Org-Sia SA. Lyons (3) "A" Ord-09. Marks & Spencer "A" Ort-90%. Cute & fole Ord-lås Ul. United Drapery Ord- 30. Woulworth (P.V.1 Ord.—son G.
Miscellaneous
Belt. Commanwent Ship. Ord. 4141.
Canadian Pacine Ord~$49%. City of London Real Prop.--70%. Cuhurd Sternship Ord-13, ruled. Furnes Withy Ord-37% 64. Hongkong & China Gas-22.
Bay Co27/10. Da gef. Ord--
Land Securities Ord-274.
P. O, Steam as. Det.-30.
Angin Amerlean‹ Corp. SA-127K
Art. South Atries Co.-39s nu British Tin investment-1 WC. Coralidated Zine Ord-7s De Beers Def-136 10.
Mount
Petaling Rhodeslau
khotheglor
Angio-Anur. Ord-t
Selection Trust-
the
2425Et
exchange
market
1x
US dollar per $15 Sterling notes (per £11 Australian noles iper £1) Japanese yeniper 1003 Combelard (per NUT French new franc (per 11 Trudonesia uplati (per 100) Braxtinn erulzeiro" "tpor 10},
5.7
12.03
1.40
1.15
1.00
5.30
Juli
3.30
Khokann Corp-45 1.
11.18
0.51
1.35
27.07
5.70
4.
107
0304
7.00
STARTING
SEPTEMBER 7
SAS DC-8 JETS
around the world!
Argentine pero per 10019 Korean won eper 1,003: Tallan lira iper 1,000) Chinese JMB (ner Di Talwin zuen (per th Thai baht (per 1003 Burmese Kyat (per 10s Pakistan rupee (pæer, 101 Mavao patuga tuër li Norwegian krone (per 103) Philippine peso per 11 Singapore Attalks (per 17 Swiss frane (per 1 Netherlands Rulider per 1 West Germon D-Mark tier 11 Cubait peso (per 9
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பங்
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GWISSAIF.
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17.80
Yesterday's Closing
Ho To : Center)-35% 34. Union Corporation-178, Watkum Gold Mining-11g 3d. West Bank Investorent
Trust-in
Western Holdings-1178 04. Southern Malayan Tizi-33e Du.
Kubber & Teas
Anglo Indonesian Plant-la İtád. Ceylon Tea Ord-208 64. Iniperiaj "Teu Ord=1ba 94. Kuala Lumpur-Kepang-da 214c. Lumbak Itubber-40 d.
-Reuter.
COMMODITY
SUGAR
NEW YORK
Closing prices all in cents per
1b.:
Contract No. 8 (world)
Ort: 2.87: Mar: 281; May: 2.00; 2,87 Sept: 2.01: Det: 291; Spot
Averagh): 2.07
Total Saios: 33 contrac
COTTON
NEW YORK
Closing prices all in cents per
ib.:
Spot
Oct.
Dec.
Mnr.
May
July
Ocl
Dec.
May: 0,23;
Open Interest; 828 cunirnets.
Contract No. 7 (domestic)
July: 6.23 Spot-(Bulk, duty old);
HIC Land
4 0
500 40
میں
Jess
Ile added that 22 currencies "dropped to all time lowa," while new highs were attained i only 10 areas. 800 126) 14
054 0
1:00.
100
15
1920 144 074.
210 877
2007
5000 21% 200 0 30
100 76%
|ralty (01 2415
Tram
KMU
75
10 M 75
5974
Yourtiti
124
C. Light
37332
1000 or 37,
4003 6 371
D7
Electrie
07
3.0
2500... 301.
וב זו לאאו
200
"Of the 93 currency systema listed about 60, if not more, are
due for for-reaching adjust- mentu or devaluations," Pick: predleted.
10 their
un-
"NO ,solution. cronomic Wors or problems other than the offcally
mlatable road to bankruptcy through currency manipulation will be found. No foreign ald can satisfy the dire needs of most countries,"
Pound Sterling
Plek singled out the American dollar and the pound sterling, backijune of
Western
Bent
New York
cotton
Now York, Aug. 28. Cotton futuros hold stoady and quiet throughout the day today.
Closing prices ruled un- chunge to Paree points lower. The market opened unchanged to six lower, New Orleans closed one
higher Lo threo TOWLT.
was
Most of the business com-switching and straddling, A moree, for sovere criticism.spot terest transferred While West European curren- short October to December cles are hardening, the Anglo-54 points while
American units are sick. ከቀ
200 389
BUO
3
1234
berno at
1000 35
300 38%
(Right)
1 Gov
4}} 41
201
50041
sall,
10,70
20.80
100 21.20
1000
20.70
"The efforts of the
ministrations in
currency
a commission house bought December and old July at 110 points. Western The certificated
stock Was
400
20.70
I[HY {, "!
Guman
4.375 .425
1460
43
monctory
Telephone
10201
Jardines
0.1. Cement
1000 145 2000 4.10
3000 4.40
1000 - 24
100 24.10
10624
Dairy Farm 37
200 300
Texilic Nunyang..
A.
Rubber
0
A. Tuf Lane, raw,
014
7
300 44 3032 1000 30 1000 30 200 30 150038
1590373%
0371
6% 1050 70.30
1000) 289
1000 14 0.20
7.40 7.00 3000 7.00
1.020 2320 {
40
Int'l Irivet. 14, 198 1000 1500
Mine
De 10 LOODU www. Underwriters
Asia Nav
Aim Duck Clly
liteta Shal Lond Humphreys Star, Ferry
i Hupe
Sincere
ԲՈՒ
14.40
43
24503
234
50
Agreed merchant
rates
Europe, where colossal progress reduced 885 bales with 89,592 Luwards
mastership bates certifleated and 009 bales
has been attnineri. are over additional
shadowed by the outlook for
the American
dollar and the British pound, both in dire need of consolidation," he said.
"The latter can only result front ቦ prolonged period of austerity and from the bonish-
nent of
the politicians from currency scene. And that. 1 am afrald, will not be acceptable."
Pick said that a "substantial International distrust" of the to American dollar has led "conalderable capital transfers from America to Europe, es- protally to Switzerland,"
1
per
Canadian dollars, maximum selling 17-31/32, mininum buy Jng 18-7/32 TT: 18-9/32 OD.
West German deutschemarks, maximum selling 80-1/2.
UNIT TRUSTS
First Hongkong Fund: $1.22 (buyer) $1.30 (aclier)
03
Second Hongkong Fund: cents (buyer) 99 cents (seller)
PRICES
FOREIGN EXCHANGE
NEW YORK Closing rates: Cortada England ontgial.
*
30-days
90-day
Da-13/10 0.0042
58.13 nom
34.40
35,71
2.7039
1.7720
23456
Now Zealand
-8.7940
Bưulli Africa
14040
Others unchanged.
-UPL
NEW ORLEANS
Closing prices oli in cents per
Nov: 400; Mar: 6.10;
0.05,
Tistal Bales: 141 contracts,
{b.:
Open interenti 1,500 cuntracts.→ urf
Apot
Dec.
Mar.
MAY
July
Oct,
METALS
Des LIVERPOOL
33.00
94.00
11.00
30.13
Closing prices al-in pence per 15.
Ausiraba
KUBBER
NEW YORK
The dollar suffered "tis Dist coronary” · last October, what: the price of gold shot up to $40 citnre of the London már- kel and cost the US, more than $1,000 million.
"IL
never covered," he added.
European
completely, ru-
creditors wilh
awaiting **TicTon
naire" and review.--UPI.
New York
sugar
New York, Aug. 28. World No. 8 sugar futuras today closed four to 10 sulas points lower with of 33 contracts. The domestià No. 7 contract closed
Ono to 4 points higher with salos of 141 *** contracts.
World futures dropped as $21,000 milion in shurl tern much as 20 points earlier in American assels could have the day, nearby October was ferred a dollar devaluation weakest but It subsequently they
demanded "a Jew rebounded to previous closing more billion dollars" in gold, levels on short covering.
had
Pick said.
India reportedly rejected European central banks also bids for white sugar for the came to the rescue of the Bri- US market tish pound which experienced a
in the neigh- minor crisis"
bourhood of 0.00 cents per carly this year, pound delivered.--UPI. he said.
Soviet Ruble
While the dollar and pound slumped, the Soviet ruble shot up from an all-time law of five cents at the end of January to 75 cents today, Pick raid.
He said "conservative Qur- rency policies" accounted for the rebound, plus strict govern- ment control over the Soviet monetary unit,
Rubber
market
New York, Aug. 28. Rex rubber futures today closed 10 points lower to five points higher with sales of nine contracts.
Standard contract closed Ave to 13 points higher with sales of nine contracts.
Currencies of Iron curtain countrice in general were stabilised, Pick sald, with the notable exception of Communist China, where the "sick" yuan to 11.30 to the sild from 0.75 dollar.
In the Western world, "only the unite of the Common The market was Market and its associate sympathy with London; it turn- member Greece, plus those of ed steady on dealer and come Austria, Denmark, Finland, consumer small buying in Lebanon, Norway and Sweden | afternoon. No. Has was quoted were considered as really hard," at 30% cents and current month Pick said,
at 30 cents-both nominal-
The 17 devaluations within UPI, the year were Brazil (3), Indoncala. South Korea (3), Philippines, Rumanin, Formosa, Turkey, Soviet Union, Uruguay, Venczucia (2)
and
Turkey (2), he said,
The 22 nu-timo lows in frce market value were reached by
easier in
U.S. money market
Angela, Brazil, Communist Chino, Colombia, Congo (Leo-
New York, Aug. 28. poldville). Cuba, Dominican Re-
The bonds market during the publie, El Salvador, Ethiopia, weck ended August 25 was Iceland, India, Katanga, South described as quiet.
Morocco, Mozambique,
Korca,
Nicaragua,
Portugal,
South
T Abodo
ensier,
Intermediate and long-term Africa, Tunisia, Soviet Union, S. Government band dealers Venezuela, and Yugoslavia. sold investors were showing
New highs were attained by ittle interest in teir market, Cambodia, Czechoslovakia, Fin- Investment qualfly corporate land, West Germany, Greece, bonde were Rubber futures closing prices Hungary, Lebanon, Netherlands, Municipals drified lower, with all in conts per 1b.:
Rumanin and the Soviet Union. supplies fairly heavy.
Pick suld die West German imark was increased by five për 30.29
In the foreign section, Poland cent in official value fast Match ganzusted 4% of 1080 dipped hip- 4 10 вако
pressuro on the low $10, and Poland eight per American dillar, bul that cents of 1080 fell four dollars, because of the Berlin eriate the Greek Ga of 1968 eased over two
tiper pressure puinis.
NEK Standard
30.40
20.04
39.00
10.00
naw mark is
NEW YORK
American Contraet
Oct.
Closing prices all in cents per
Dec.
20.00
Jiept,
1b.;
Mar.
25.20
Nev.
Jan.
May
Land Sept.
10.20
20.70
MAT.
Del.
23.04
May
Zind
Dee.
23 60
Det.
Mixed Contrnet
AMSTERDAM
Conger Bent.
Dat.
Dec.
Jan.
Mar.
May
*UPL.
Cloning prices all in guilders Alseit per kilogram, c.lf. Sopt? No. 1 rupper song NO.
CHART
No, rubber
Ko. I crepe
Pick reported "targo golĚ Japan 6 of 1975 stamped
the 227 buyers | purchasex"" within
past added more than $1'as did Bóúth 130 wydr
week by Inego West German Italy 51⁄2n of 1974. Most others corporallot In the London and were fractionally changer,
0.74 koin.
| Bwisɛ markets. This raised the (China Mall Special.