THE CHINA MAIL,
Wall Street rises to
THURSDAY, SEPTEMBER 7, 1961.
World new record World sugar
rubber märket
New York, Sopf. 6. Rex rubbor futures today closed unchanged to four points lower with sales of 12 contracts.
Standard cantract cloved ve higher to 10 polita lower with sales of Rontructs.
trendi
Although quiet, the terminal market showed relative steadi- nes compared with: the lower
primary Art
gents that situation Dealers thought might reflect the increased ap fur settlement of the threaten-3 ed outbonubile strike, and the fnet at th SUN quite foreign markets,
New York, Sept. 6.
The stock market rallied sharply to an all- time high today. Trading was active with the high speed ticker tape late at the close.
The market was much higher from the start and continued to improve to the close with most stocks around their highs for the day at closing time.
Most gains ranged from a few shore, but cents to around $3 there were wider going among the higher priced issues,
Fourteen uf the 16 most aclive stocks advaneed and two declinel.
Tho
conference
Standard and Poor's 500 represents stock index, which
American Maching & Foundry | and more than 95 per cent of fl the actual trading on the New led the volume gained, up 1 Council. York Stuck Excliange, rose 50 lu 46% 03 82,200 shares. cents to 500.40, Its best rise Brunswick was second, up t since August 1 when it advanced to 597 on 80,000 shares. 01 cents. The rise put the Index Diegu Imperial
into
COMMODITY PRICES |
FOREIGA EXCHANGE
Closing rules;
Candita Engine
official
Austraila
AMSTERDAM
Closing prices alt in guidors per kilogram, elf Sept.
No. 1 rubber
No. 1 rubber
No. 3 rubber
No. 1 crepe
2.50 Buyers
1.34 buyers 2.31 buyer 267 buyer
--UPI,
COTTON
NEW YORK
1/71/32
2.8123
2.80335
2,0078
2.2500
2.8023
1.1005
1b:'
Byut
2.814-2.0813
Mar.
2.09 13/16-2.00 15/10
MAY
10.15-10.18%
July
132,00-130.93
Dio
New Zealand south Africa
Qthers unchanged.
LONDON
Amsterdam
btinܢܐܝܐ
19.3934-1936 11379-1123%
50.25-0.35 20.0194-2002 13.94-13.8ZIL 14.37-14.875 174436-1745
United Nations, Sept. 6. -
1958 Internationg) Sugar Agreement will be reviewed at a multi-nation conforonco opening in Ganeva on September 12. The conference, ́convented by UN. Secretary General Mr Dag Hammarskjold, is expected to Closing rates:
New York Beckman Instruments 34 and last above live weeks. Litton Industries 14.
Invitations have been sent to Montreal all 08 U.N. members and to Brusels members of the interim com- Copenhagen
Frankfurt mission for the International Trade Organisation, the Food OND Agriculture Organisation Paris
International Sugar Milan the
The existing International Vienna sli{{tr
come agreement force on January, 1, 1959 and will continue for five Article 42 of the agreement provides for an exuminution in Motors was fourth the third General
year of its "entire Bhokers estimated the mauudun the index, the quoted value up 14 to $7 followed by working," particularly in regard
on the ex-American Viscose, up 1 al 81%.
to quotas and prices. to be roughly under L-tg all storks sted dest and
tuder 1921 01 change gained about $3,000
and special Export tonninges Du Pont rose 2%, million.
General purbly with Singapore.
resolves st Electric twn, Chrysler
out in article 14 1% and
the first threo Te re ponent market, ul.
Ford 1%. Boeing advanced 3, apply, only for or 1,270 issuss traded,
Now all in cents per lb American years of the agreement, advanced, 481 duellied and 233 Northrop 14, North Jerings were rather glat."
There were 1, and
tonnages need to be fixed be- Es of Fariasia, offerings closed unchanged.
fore January 1, 1982-UPI, site Bure andiers it the new high for the year and 27 cents; tour ambers at 25% cepts, The browns 26% cote: on ex-browns 27 conts; and three ex-browns 28% eents, all shipment, S plenther - October
treight, Locally spot POST and No. 1 RSS was quoted 395 cents and current month 394 entsa pound romnat.
ined
፡-
socal murivrt is bit under The
San was third, up nt a record high, exceeding is at 14 on 58,400 shares, previous high of $68.44 set on August 2 by two cents, Based
(17 new lows,
Cars and steels
The cars
582
and steels led the thut an
AP.
United Aircraft one.----
Closing prices
Allied Chemical Corp Allis Chaa... Aluminium 4d
American Tel and Tel
strong advance. News
Petroleuni inmediate strikes in the US. car Atinum Company industry had been prevented American Can....
They were American helped both groups.
Crunanid Ainertean Motors In Singapore, despite a rise joined by the electrical equip American Smell and Tetin overseas there was little follow meats, chendicats, aircrafts and American Bugur through Focally and after 4pper. Some of the electronics
higher
the declined. alghtly
openity:
with buyers market declined
served.
ruled Very quiet conditions throughout the morning with lower sheet interest small and selective.
Trade selling in the afternoon at the took prices off to lose day's low.
with
Lowers were neglected sellers prepared to meet buyers,
100
years,
Exchange rates
NEW YORK
Closing prices all in cents per
LIVERPOOL
33.30 num
34.47
30.02
34.00 35.90 30.10
35.32
Tin mining stocks tumble in
London market
London, Sept. 6. Tin mining stocks took a heavy tumble in a subdued market today when industrials turn- ed irregular within a narrow price range.
Most movements stayed small and indecisive in
restricted
trading but some store stocks
and real estate counters went theud under selective buying while steel stocks cused.
Bewater paced poper stocks
Closing prices all in pence per into lower ground on their lower profit margins, dipping 20 Gd to 50: Bd. Unilever turned dull.
Stockholms
Zurich
1b.:
Auterloan Contract
1.13-13.13
Oct.
24.30
72.52-72,83
Pee.
--UPI
haar.
24.75 23.20
May
July
Oct.
Dre.
Mixed Contract
Del
MAY May
RUBBER
NEW YORK
Rubber futures closing prices,
Rex Standard
30.50
30.40
29.93
29.95
20,30
30,30
20.65
20.63
20.10 7.งด
-UNI
METALS
Tins
lost several shillings following the big dip in the metal's price. Selling came both from the east and from London and one of the lenders, Tronoh, Other dropped 78 3d to 345. mining stocks were dull
Bonds
HONGKONG STOCK EXCHANGE
by
Our Own Correspondents
Business done on the Hong- kong Stock
Exchange this morning amounted to approxi mately $3,250,000. quotations and higher transactions:
Long-dated government bonds moved small fractions but other gill-edged were unchanged.
counters
Dollar stocks ended mainly! lower despite a minor recovery from a shaky stort.
Noon the morning's
Sheres Buyer Sellers Balen
TKC Ljusk
360 |
Oils hardened near the Anal! NEW YORK
belt but still were losers on the lon. Res. Closing prices all in cents per day. Sheli were is Od lower al
110 shillings.
Rubbers and teas calmed.--UPI.
302
10 a 350
40 300
40 or 304
08 200
200 v/ 262
260
20 gr 284
were be- Wharr
Ailled Inv ILK. FE. Inv.
Ex. All
Wheelock
10.20
22,40 319
11.10 1120 1000 ₫ 11.30
1000
1000
120
2000 11
Closing prices
Sent
Nov.
Jan.
Mar
May
Juty
Segil.
SINGAPORE
b11
Closing prices
1 in Straits
77
cents per in. fub Malayan ports:
43
42
Business was done to the unmetal Exchange
torni No.1 Sept.
niorke this
No. 1 Def,
184
sa
U.S. dollar (per $1) Sterling notes (per C11
ntorning at the following rates:
......
No. 2 Sept,
not-acu 07-0714 25-30%
1b.:
Leat
3.700
No. 3 sepi.
15.03
Sept. Oct.
10.37
No. 4 Sept
1201
Australian rates (per Eu
12.M
Spol rubber unbated
Zinc
E-p
Japanese yen, (per 100)
1.48
Blankel crepe
76-70
Sept.
11.03
58
Cambodia riel (per 100
9.55
No. 1 pale crepe
POLY-9716
Det
11.00
French new frame (per 11,
1.15
Cupper
47.
Indoneala tuplali (per 100)
3.10
LONDON
Sept.
31,22
Brexitan cruzeiro (per 100)
1.00
Del.
31.3H
$31,
Argentine peso (per 1001
$30
Closing prices
19
Korean hwan (per 1,000)
3.30
ail In pence
05
Italian in iper 1,000)
$.00
per 16.
LONDON
42%
Chinese J8115 (per 1
041
No. 1 ar apot
532
Talwan yuen ber 101
1.34
Settlement house
.......... 2011-2534 Lerm:
Closing prices, all in sterling per long ton.
01
Thai baht (per 100)
27.05
Sept.
25-257
Burg Warner
4412
Burmese kyat (per 101
6.70
2321-251%
flurroughs Corp
301
Pakistan ripee (per 50)
7.10
Oct/Dec.
283-251%
Tin spot
Canadian Pelle alway
Macro phara (ber 1)
9.394
Jan./Mur.
Cake, J.
1. Co
-91%
Norweglon kronie (per 100)..
7.05
Apr/June
Copper spot
buyers sellers
101.5
23344
B. German Da
934
B. Japanese,
130
Anrelays Ord--721 01.
Philippine peso iper 11.
1247
July/Sept,
251-251
Singapore Straits" iper 11
1.80
*
Chartered Dank-821.
swiss trane per 1) Nethertanda güllder (per 1).
1,30
Sept.
-2876
Guardian ASTON
1.54
Ogl.
Hongkong Bank-£10%,
120
Lloyds Bank
Lombard Banklag
Americas Talinevo Anaconda Company Armed Steel .......... Arindur And Company Asmented Dry Cootla Allnati Rening Baldwin Lima Hamilton
Cor Bethlehem Steel Doing Airplane
The Associated Press 60 Stock Average ruse 1.601 to 256.10.
The Dow Jones 30 Industrials were up 7.2 to a new historie high of 726.01. The previous pek was 725.74 registered Aug. 22.
Volume rises
Valtune
prices. The market closed quiet, shares from
rose
15 3,000,000
Ia London, the rubber market i traded yesterday. was quiet with spot down 1/8th
to 25%. No. 1 Rss spot 2595 2534.
In Amsterdam, the rubber mpritet was colin and stendy to- day.-- UPI.
A feature was
Business Machines
Borden Co
Celanese Corp Am 3.440.000 Cerro Corp... shares Chrysler Corp Service
International
Coco Cula Corp Colgate Fidanolive Commonwealth Edison which rose Cormalidated Edison
Continental on
16 to a neve high of 547 2.
Wide loser among electronics Included Texas
Canadian Pacific
OFFERS
Corn Products Co
Crane Company Crown Zollerbach
Instruments 7. Curtiss Wright
LOWEST, FARES
TO
NORTH AMERICA{
ECONOMY
$308.40 LESS THAN JET FARE*
Disul Corp-Seagrams Dutigias Aircrati Dow Chemical ........ Dupont De Nemours
Eastern Air Lines
Easimas Kudak
Food Machinery & Chem
Ford Motor Co.
General Dynamics
General
·Electric
General Mills
General Motors
Georgia Pacle Corp
Gelly Ol
Gillette Co.
Goodrich, £. F. Ca,
Goodyer Tyre & Rub.
Grace, W. R. & C.
Guif oll....
Ingersoll Ran
In
Ini
Business Moch
Harvester
In Nickel
fall Paper Indi Tel & Ti Jones & Loighlin Kaiser Aluminum Kermecent Copper Libby Owens Ford Liggett & Myers Locked Are Lone Star Cement Lorillart. P. Co.
Martin Co..
Merck Company
Goldwyn Mayer
337
Minneapolis Honeywell
Minnesota Mialng & Mig
Monsanto Chemical
Bongomery Ward
2919
Moore McCormack Lines
11
Motorola Ite
National cuit
71
National Cash Register
National Dairy Prod
National Dialers
National Gypauni
National Leat
New York
Northwest
Ohio Oil.....
Pon in World Airways
Olin Mathieson Chein
Pocille Gas and Elec
Parandurit etures
Pernkylvania RR
Pans Cala
Pfizer, Charles
Phelps Dlge
Philip Merria
FIRST CLASS $513.90 LESS THAN JET FARE SUPERIOR INFLIGHT SERVICE
Philips Petrol l'ure Oil
Quaker Oats Radio Corporation Raytheon Company Republie Steel
Revoulds Motais Reynalda Tobacco Royal Dutch Petrat
Regs 'njing
Seare Anebick
shell 011 4
LOUNGEAIRĘ
Exclusive
with
Canadian
Pacilic
9 INCHES MORE LEGROOM
FULLY RECLINING SEATS 'NÒ MORE THAN JEȚ FARE".
Round Trip-Heng Kana/West Coast
Fly Canadian Pacific'
Shell Transport
Sinclair Qu
Soenny Mchil ol
| South" Am Gold & Pint
South California Edison
Routhern Company
Sperry Hand
Standard Brande
Mandard Oil California
Blandar Oll Indian
Biandard Oli Neo Jorney
Mondlard Oil Millo
Blerling Drug
Studebaker Packard Texaco Ing....
Larompzaa hama it'
Tidewater Ol
Twent Cenility Fox
Tone World. "Airlines
Union Carbide
| Union Of California
Union Feite
| United Alferaft Corp
Tiniums Mr. Tandi
112
; US Indilatt lewe
19.8. Linki ...
V.R, Bubber
UF, Amt & Refin UR. Ated?............. Warner Bros. Pictures ||Western Union TAL Z
WWW
Electric [Vale të Triwm, É Youngstown Sheet de
Zentul W... Market frone a
| Total Block, Bale
WANRI #Točí
Bank of Americe
| Cham kennymatian
Het wor
Murgan “Glventy
201
015
17
10
40t
时间
10112
West German D-Mark (per 1)
Cuban peso (per 1)
General markets, gif. basin, ports:
Estale crepe thin Sept.
flack Sept..
Two of Britain's
3-month
3-auth Lead Sput
3-month Zinc Spot J-manthi
richest
combine in a
men combine
big_property_deal
By EDWARD WESTROPP
London, Sept. 6.
My city informants tell me that two of Britain's richest men
Mr Isaac Wolfson and Mr Charles Clore-are combining for the first time to do a big property deal.
a scheme to This combination of money-making talent is considering
in capitalise on the shortage of office and living accommodation Israel.
They believe there is a great scope for building development in that country which would not only be of beneft to local in- habitants but proftable to in- vestors.
Mr Wolfson and Mr Clore are lo start work on the details this weck.
15%
a'minimum return of 10 per their hands on your lolly ba cent per annum."
cause as feat on it comes in There's a major-general as they lend it out to house chaluman of this business which | buyers,
Is called Highland and Northernt The interest rates are being Dalty Farms. But the piggles jacked up and such grant have the edge on Blossom and societies as Abbey National Buttercup because they offer and Woolwich will soon offer not 10 per cent but 15 per 3% tax free which la equiva- If all goes well and the Trea- cent plus a noble lord as boss lent of around six per cent Mary are sympathetic some of in a concern' called the Live- gross.
the shares of the new company | stock Group. will, I hear, be marketed
London.
in
No doubt all these people
are full of enterprise, integrity You can be sure that the issue and what have you. But I'm
Bat there been
case
Repayment
You will perceive that this will go splendidly. For never, marry to say I completely re-
Is marginally lower than the think, in recent history
the rates offered by
councils bas tune to accept the muggestion
I've mentioned in which
but whereas that "armchair farming" abso- two such polent names will be lutely secures
fixed intereat the latter ank you to deposit brought together on the front payments at such high rates money for a fixed term of years of one prospectus,
the building societies will make I regard things of this sort as repayment at short notice if Because of the credit squeeze pure
whatever speculations everybody is after your money, major-generals and earls may That couple of hundred tucked feel about it.
54
ADI
31
30%
701%
41
| eway in the bank or under the mattress becomes of tremendous
47%
In
11.
501:
27
77
Importance to all sorts of people
who have all sorts of uses for
Interest rates
you require
Both counelis and top'llac building socletion are entirely safe investments and which You choone must therefore de-
elrelinstances. your
pend ofi Next on my Bat are the local
So you, my readers, who are authorities who are Ecccering
the cream of the investing pub- very lavish indeed with the lic are on the pig's Uuck. And interest rates.
1 Indded as I'll presently" explain
DO
For some reason which I do
culatiori Which w cheer that I've made an interesting cal-
neke body of investors who 4415 you
may 4180 literally and not seek to explain it would sold their Ford shores last au- yourself in that position unless appear that the more leftwing mn to the American parent
the local Member of Parifa company. 1916 you are very carefull
ment the higher the Interest Just before the bid of 1457- rates.
was announced the shares stood I'm talking at 017- fr If you think
£1
23%
Contious
the market. If
Just because your money Is through my bowler hat let me there had been no takeover i 140li so keenly sough111 pays to be point out that Cannock, which
doubly cautious. So let us do
35
is in Jennie Lee's constituency
a bit of widow shopping and is offering seven per cent and
101117 10 relate the risks to the
returns. 170
It must be sold ni once that bơ, the dear' thon-cows and piggy- lagles' ippées" to offer the ghest returns of ott,
that Ebbw Vale (Michael Foot)
is tempting you with" 09. '
In reasonable to suppose that
the Ford shores would have behaved in much the same way na' those of DMC. In that case
they would now be down to
Being a good capitalet who la ready to
Lake money around 4».
You will therefore perceive anybody as long
that" beenuse
of intervention security a pod. I donjaro from Detroit thene investors
Hi
although I detest the pollies are nearly twice as well off of their MP I like the interest as they would otherwise have rater offered today ký"Can-| been,.
Investors are being inundated ADR WAN 1eraturo about them. Nut even the copy" 'sto spared. 18h Tý fact there's "àn"Advertise- nock and Ebbw' Vale and kny
Looking far ahead At the Hiilient in the newspapers "daler- others offerinæ vimilar terma. time I thought the takeover a 300ing for policemen whilels “anya My foundup of fixed intelegt nad pity. But it'must be ad- Wanted Daisy and Buitefgup securities would be incomplete matted that on a short tenn Slips Bodom by all putke without a mention of the big view it could not have come
Officers' "Wit T eye to the building woofeties.
nt a better ting for share-
·Futura who require
sound]"They- aro ka koon as any-iñoldere:" a London *** Exprovi @gricultural · Investment giving thuig at the moment to lay Service.
08-173
-AP.
British Government Securities
• Consolated-3372
14. Savings 1955/05CQ-11/10.
2. Savings 1800/70-275-11/18.
Baving 1985/73
1965/75-97-13/18,
Oversenk tond
Banks & Insurance
Brit. Merchants Insur-2x 34.
Landel Trust.
b.
Ord-14 7
National Grindley-32 ed. Prudential Aakur, "X"-21-0/18.
Canada-£18. Royal Bank of
Royal insurance Ord.-157 9.
OB
British Petroleum-44% Od. Mexican Eagle Ord Id. Shell Transport Ord-110. Royal Dutch-C11-11732. Ultramar Company-258 14.
Bteris Enginer 34.
Habcock & Wilcox Colville Ord--90€ 04.
Guest Kern J.
New 10.70
ཌ
11
G
4000 11.10 2003 11,20
2360 » 11.20 410 of 20.00 RADO 11
1000 10.80 3000 or 10.00
IIK Dock.. 103 107
200 106
200 200
Talkoo.... Provident
021
20.00
HK Hotel
38
64 $414
::
IIK Land..
HI Realty Ex Div HK Trani
2.30
2000 1 28
600 03
200 in (35
2001
2100 or 63!
2000 H
2.33 10000 co
7500
3714 38
K.M.Bus
2015 7114
Dorman.
3d.
Harland & Wol Ord- Jd. Melat Box-2 70 Stewart & Lloyds Ord-438 3d. Summers & Sons Or43 cl.
Yaumati
112
Ch. Light
33 3516
Tube Inves425 3
United
Vickers Ord-32
Assoc. Eire.
740.
30.
Assoc. Television "A" Ord-30s c
Brit. Electronie i
Birmingham J.
Elec. & Mus. Indu
English Electric
- Dit.
34. 38.
IK Elec.
XD
36 30
General Electrie Ord-31 Philips Lamp Works---18/10. Realffalon Ordmin 111⁄2d.
Industrials
Assoc. Portland Cement-746 4140. Hoardman Marden Ord-03. Borax (Holding)-16 d. Decca Records Ord- 31. Dunlop Tabber Ord-26a 6d. Gilman (Holdings) Ord-da Gd. International Computer#=-920 34. & Newall Ord.—ale 41;0. Unlever Ord-143% Bel Wiggins Tape Ord-Ha t
Chemicals Imperial Chemical Onl¬ds 30. Monsanto Chemicals Ord-17 70.
Cinemas & Television Assoc. Ert, Picture498 · 176 d. Itark Organisation Ord-24* ̈7:40. Stoll Theatres od.
Faper
water Paper Ord-50 01.
Rue Urd-an. Spicet Ord-43 4. Tobaccos British-Ainer Tou, Ord-06, Carreras "B" Ord~49 10990. Imperial Tabacco Ord-its 3d.
Motora
Britan Motor Ord-13 75%.
· Cars Ord-101× 34. Rolls-Itoyce Ord-4 d. Wertland Algeraft-101.
Textiles
Juzuar Siddeley Ord-30% du.
Bradford Dyers-10 35.
Calico Printers' Ord-13t
Telephone
(old)
401% 12%
(218). 10 16.40 1822
500
#ફ ક
15.60
858 725 20 21 10 K GAB.... 19.00 20 1000 er 19.10
Gilman
4.30
Jatilinaz
500
3000 $1
100 1916
603 117.30
22000
12
200 108
BUY 10.70
I
4
2000 19.90
4.30 2000 49.436
1000 4.30 1000 4.275 sing 30 3000+30 10000
... 23.20 23 40 150 or 23
1
Coula (JP) Paton & Baldwins-441 | G.J. Cement Courtaulds Ord-34# 111⁄2d.
Fine Spinners Dril-212.
Lorienshire Cotton Ord- 1012.
Breweries
Putullara Co. Ord, -30% 94, Guinness (Arthur) Ord324 Go. Ind Coupe Ord-fða 494,
Яшет
Fitch Love! Ord-10x 3. Great Universa} Ord--55%. Great Univerani "A" Ord-40.
House of Fenter Ord-38% 70, byana (7) "A" Ord-8712 Marks & Spencer "A" Ord--182 Zil.**
Tate & Lyle Ord-40 111⁄2d. United Praw. Ords 101id.
Ordis ft. Woolworth
MiscoplastenUR
Bowmaker Ord—134_
Trif. Commonweal
F 4.6
1000 2100
150
23
1900 à 21.40
1800
250
23.20
400 KR 2370
500 33.30
50 OR
1000 87
Dairy Farin 352 3514 300 353
Watson Textli Nanyang
A Hubber R. Tru.. Ligal
3009 4 303
000
500 € 342
47
6.00 £111.70
4.00
7.10
209 6 29.20
300 or 2935
1. P. 20.70 29.00
Ord-30s
7150.
City Hotel.
Canadian Pacific Ord=1443;.
Cunard Steamship Ord-1 au Forestal Land & Timber-line 4140. | 1... Craw
Furnese Why Gru-97m 735d.
Hongkong & Chian Ga
d.
Hudson Bay Co-19, Indo-China Dat. Ord-1
Land Becurities Ord-20s 90,
P. & C. Strats Nav, Def.-te pd.
MINY
Angja American Corp.
Jd.
BA---1273
Frit, Bouls Atelen Co-19 3. fritin Tin investment-2174. De Beer DJ¢f~~1759)||-* London Trl Corám201 34. Minme ted one!! Polving Tin 10 0. Banu Hejstion—286 1444.
· Or-000. thodesian Belection Regem Corp,-49 24. Bio Thisto heary)=-43 344. Rusi Anleidi copper a Union pratique OATE, Welken fold Mining—im dj. Want Rank Investment Trift-49,
Holdinge-130e 10544.
Angio miestarf Plant, P.
יל השונא
Imiterio Ten stra-jod 31.
ft, 12c.
HK Mine
Humphreys
Star Ferry Macao Elec.
W.
39
10.
14.90
1000 29.00
400
500 29.00
20ù di 20.70
2400 * 2#
300 3744
100
1000
20,
1000 61 37
7400 a 180.
0000,
Agreed merchant
rates
Deulachemarka.
Germion maximum selling 09.
UNIT TRUSTS
First Hongkong Fund: 41.12 (yer) 111(sellery
Bocond Hongkong Find: cents (buyer) 92 cents (apiler)