New York stocks go into full retreat
New York, Sept. 25. Every group was hit by the drop. Declines of two, three and four points were a common sight and ran well post a dozen in International Business Machine.
Stocks went into full retreat today.
Blue chips and "glamour" issues alike were engulfed by the onslaught.
about four
around
vor sa, Allied Chemical
flew Incorn,
Lene Htar Cement Co. Miminketa Mining
Brokers said President Ken- Owens-illinois rave up more; fucknerd Aircraft netiy's speech before the United : Phun tour, Dupont Nations today had little effect en the market, although natione defence storits any have been pew-Jones Industrial average. hurt by the Prusicent's
what conciliatory tone.
Some-
fusterul, analysis blamed to
; titree. All are included in the
Honolule ulf, which approved The sale of company assets ni a seckholder meeting today, was
about two.
day's selling mostly on the nave of the few winners, rising ket's weids feruslení pošition. The Dow-Jones pxiustrial Averie having broken sharply below the
700 level with almost no sign of major support. Aluminius
balter
Severely
stocks were following
North American Aviation was one of the weaker defence isues, dropping about
Jour.
ion Development Montgomery Ward Nations Cals Rex. "A" Nation Lead
New York Central Otis Elevator Facile Gax & Elec. Patna Plctures Pusheren Piste Glas Radio Carporation Helle Stre) Regis fetni
FUSnolds Tebaceo Sinclair Oil
Today's volume was 3,700,000 | Sogony Mobil On shares.
Square
f a total 1.277 shares traded, price eating. Lasses running' 224 higher and 863 lower. about. two or three In
Alcoa,
American Exchange was 1,850,000 shares.
Kanser Ahummion and Reynolds : Metal Goodrich and Hosraf Tyre sank three or four in the rubbers. Litton abou dye in
e electronics, Zenith about six and Ford over four points in the inators.
AMERICAN
ESTOCKS & COMMODITIES
Το
WHEN TO
SELL
PROTECT PROFIT
CONSERVE
PRINCIPAL
Research Dept.
PERENNIAL
TRADING CORP. 010-010 Edinburgh House
long Kon
Tel: 24040, 32301
Bonds ameninted to $7,120,000,
How-Jones closing averagest 30 industrials (01.06. of 0.71 20 Rails 142.25, off 1.09 tilities 120.05, of 1.0G
da Stocks 283.45 I 2.96.
Closing prices
Alden av. Acy. Allled Clomiral Allis Chalmers
Ameriena Airline American Metal zarrieta Smelting Amptirna Te & Te Atterton T"?713.
Acenta Cons Arnoone
Atlas Cute Mining“
Baltheure. & Olle Bethlehem Steel L'ORA.
Brewers Carlton Pacte i
C Motors
Cola
Crave Co.
Commeretal, Credit
Consolidated Edison
Dupont de Nemours
Eastern Air Line
Fastman Kolak
1020
43%
1
4812
15
Ford Moteg
General Firetrie General Foods General Motors
Sinity Oil
dyear Tyre
Gulf of
In Business Machines
Int Harvester
Internation) Nickel
In Tel & Tel.
Kennecult Copper 1,inter 2
30
COMPANY
THE CHINA MAIL, TUESDAY, SEPTEMBER 26, 1961.
239%
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Stock Exchange shin morning amounted approxi- mately
$1,200,000. Noon quotations and the morning's transactions:
Bbares Buyers, Bellere NK Bank..
241
342
Lan. Reg.
Allied 1.
H.K.
Blu
200348 10 044 50 341 200 344 240,342
London stocks COMMODITY PRICES
close mixed
London, Sept. 25.
Investors mainly marked time today when inter- national uncertainties helped becalm trading and set several top industrials drifting. Even so plus signs sprinkled the list to give it a mixed look at the close.
Stocks such us Associated Electrical, British American To- bacco, Courtauld, British Motor Corporation, Imperial Chemical, Rolls Royce and Unilever re- treated. Steel stocks reversed good stori and Anally ended with lossca up to one shilling. Lancashire Cotton were weak in textiles.
2012 20A
40 204 100+ 202
However,
Bowater,
Philips
Invest
2100
and
Schweppes
Increased.
114
Where
100%
01
11X Dock' ''* Wheelock
208
200 200
600 130
רד
cold. 11.20 11.30 3000 44 11,20
Breweries and real estate coun- ters Improved.
Possible relaxations of South
1000 & 11:40 | African capital transfer curbs 3000 r
19.30
helped gold mines but actual 176 11.20
business was small. The bisher price of the
tins melal saw bounce back but coppers were duti.
G000155
Realty 2.16 2.175 10000 6 2.175
#41
(New)_...
E
Takuu Duck 58
20000
Provident
12
kutel.
500 1919
200 or 38
HK Land..
0: 02
20002
2000 163
Starded Brauts Standard Oil of Cat.
75
48
Standart Ol of Ind.
40
IK
Standard Oil of N.J
431
Sterling Drug Co
la
304
Starletucker-Packardt Corp Switt & La
114
HK Tram
30
Texas Co....
Union Cartúde
K.M.U.
40 70
100 38 530 +09
Luton Pacile Railway
Youentl
110
+
Ch. Light..
339 24
2-103
11.9. (2ypasta
>
Electric
34112
| Unltest Airorafi
US. Rubber
US. Smetting
US. lect
Warhes Drus.
Westinghouse Fleetre
Woolworth (K. W.)
ይ።
$112
ב
Telephone
5900 or 2.15 40002173
4000 2,19 1000 @ 2.13 2004 1734
500 347%
64 g 24p
200 39
(0)
AD 40
400 07 39
4
71%
200 38
UPI
(E) ... 14.00 14.00
New York
sugar
New York, Sept. 25. World No 8 sugar futures today closed unchanged to one point lower with sales of nine contracts,
Domestic
No. 7 sugar
14K .Cas
Coman
Jordiner
G.I. Cement
Dairy Farm Textile Nanyang Amal Rub. Rub. Trust Local
P & P
Humphreys Lane. Craw
Asia Nav
10.10
200 or 14,40 700 1416
31/1
200 14.00
IT5 145
3000 ** 14.00
4.03 4.10 3000 62 4 125
1009 1.00 +
27 22.80
200 22
1000 27.90
15
57
500
100 or 30
01
10.00, 11.40 640 5.05
0%
Ex. A
2016 26.70 100 28.00 * 20,00 22.00
300 22.00 3815 399 1000 a 39
1.05
3000 or 1.05
Rope
500+ 12
Mine
7c
one
Macro Elec. Call Meg
2415
(OTH)
Vibro
generally
42
in the sugar trade while traders Bawaited developments in
the
1445 raw market. UPI,
124 lower to five points higher with
30
THE DIRECTORS
of
sales of five contracts..
Quietness prevailed
MINNESOTA MINING AND MANUFACTURING CO.
ST. PAUL, MINNESOTA, U. S. A.
take pleasure in announcing
The Official Opening
of
MINNESOTA (30) FAR EAST, LTD.
on September 26, 1961
IN LUK HOI TONG BUILDING, 7TH FLOOR,
31, QUEEN'S ROAD, CENTRAL,
HONG KONG.
301
World
rubber
market
Now York, Sept. 25. Rex rubber futures today closed 10 higher to one point lower with solos of six contracts.
Standard contract closed five lower to five points higher with no sales reported.
all
re-
'The futures market, along with the shipment situation and the delivered market were very quiet and featureless, Shipment offerings were ported scarce but factory buyers were not interested. The Tow lots done on the terminal mar- ket were between dealer In terests. Outside speculative in- terest was non-existent.
Locally, spat No. Res quoted 30% cents and current month 30 cents a pound, both nominal.
was
In Singapore, after a slightly higher opening the market sank slightly as buyers tended to back away, latterly, on im- proved buying Interest and the reserve of sellers prices Bicodics although quiet conditions con- tinued.
Lower sheet interest was fair but selective with sellers more inclined to meet the market at the higher level.
The market was
very slow after the post-lunch apening with prices holding steady. Lower Interest continued with sellers generally reluctant.
In London, the rubber market was dull with spot quoted at 25-3/18. No. 1 Res spot 25% 23% with no business.
In Amperom, rubber anar-
kel was dull today-UPI.
Exchange rates
6.702
Business WAS done in the local metal exolange market this or the following rates:-- US. dollar Koper #1).da Sterling notes (per 1)..... Australian notes (ver £1) Japanese yen (per 1001 Cambodia riel (ber 106) French new franc (per 1) .. Brazil cruzeira (per 100). Argentine peso (per 100) Korean hwan (per 1,000) ........
allan in (per 1,000) Uninoso JMP iper" }) TAIWAN Yers (per 10)
That bat (per 100)
Burmose Korut (per 101 Pakistani rupeo (per 10) Stenso priers (per 1) Norwegim krute (per 100) Spenó Gár Ringsvorm Strasti" (pre 1) Nákaužtasyda #slided (pet Wart Grima_D^Mack (pm2 Culian, peeo. (por 3) ....
Oils ensed and Shell lost a at buoyancy, off 1/6 recent 115/8.
Bath
Japanese and Greck naded fractions in the foreign liens market,
bonds
Tens got help from selective buying but rubbers were in the doldrums.-UPI,
Closing prices
Eritish Government Recurit|ca 24, Consolidated-230%. aign. Converslon—25132. 35. Savings 1955/65-60-23/32. Savings 1960/70-275-15/1e. 3 Savings 1905/75-208. 31, War Loan-403-3/10.
Overseas Bondi
German Dawes)--EMS. 5. Japanese, Amented-- £1501⁄44-
Banks & rener Bareluya Ord—300,
Brit. Merchants insure 3d. Chartered Bank-Si, 68. Guardian Assurance-018. Hongkong Bank-10% Laniel Teunt-428.
Lloyds Bank—638 3d, Lombard Denking Ord.-14. *
National & Grinili.
Prudential Azur.
Jayn) Bank of Canada–£23, Royal Innurance. Orű---420 Ex-righis.
むり
British Petroleum-428
Burmah Ol—341.
Sheil Transport Ord-1186 Bd.
Royal Dutch-11-1710. Ultramar Company-24a 1011⁄2d.
4
Hiels Engineering Babcock & Whiteos Ord=258. Colvillon Ord-33 7. Dorman. Long-29s Tid, Guest, Keen Ord-Bla Jú, Harland de Waiff Ord-17 00 Stewaris & Lloyds Ord-40% 41%d. Summers & Sons Ord-15s 10 d. Tube Investments- 9. United Stevel-12, 30}< Vickers Ord-30% 18."
Blectric Assae, Elec, Industries-338 D. Assoc. Television “A” Ord—500 Od. Birmingham Sound-401,
Brit, Electronic Ind-lle fisd. Brit. iris Callender Ord-50% ud. Elec. & Mur, Industries-3ds Bd. English Electric Ord-278 64. General Electric Ord-20s. Philips Laing Work-C10-3/32. Rediffusion Ord.--400 115a.
Industrials
Assoc. Porunnd Cement-7is 7%d. Boardman Marden Ordnada Bil. Borax (Holding)—15# 7390.. Becca Itecords Ord-82 0. Durlop Rubber Ord-28. Fisons Ord-30s 04.
Cuman itoldings) 973,-49 90. International Computers---925, London Brick Ord-90s ba. Turner & Newall Ord,-60% +11⁄2μd. Unilever Ord-136 d. Wiggins Tenpe Ord-55n 3d.
Chemicals Imperial Chemical Ord-dis 19åd. Monsanto Chemicals Ordi 3d. Cinema & Televizion Assoc. Brit. Pletures 40s 10d. Bank Organization. Ord---25% ↑ Gd. Stoll Theatres--68 417d.
Paper Bowater Paper Ordo Dd. De La Rue Ord-624 6d. Heck (Albert 2) Oriton . Salcers Ord-42$ 1194.
Tobrecar British-Amer. Tob., Ord-031. Corretan 3”. Ord--Ji 4190. Gallaher Ord—121. Imperial Tobacco Ord-00 1351. Motsta British Motor Ord-13 I. Hawker Siddeley Ord-bu 450. Jaguar, Cars Ord-1129 03. Rolls-Royce Ord-más 01. Westland Aircraft-10s
Textiles
NEW YORK
COTTON MARKET
New York, Sopt. 25. Cotton futures today
To-
mained on the defensiva for the third session in a row, but developed more resistance on tho backs,
FOREIGN EXCHANGE
NEW YORK
Closing rates:
Canada
England
Ditical 30-day
DD-days
Others unchanged.
LONDON
Closing rates: New York Montreal Amatordain Brusel Copenhagen Frankfurt Libon Odlu
RUBBER
NEW YORK
Rubber futures closing prices,
all in cents per lb.
Sept.
07-4/22
Nuv.
8133
Jon
1.8030
2.7070
Mar. May July
Rox Standard
30.80
$0.00
28.09
20.13
20.00
29.13
28.30
SINGAPORE
all in Strolls
2.0135-2.012
vents
2.89$12.00) | 10.15-10.15
No. 1 Sept.
140.00-140.05
£0.3844-10384
Sept
Closing prices
porls!
per
No, 1041
No. 2 Kral.
11.26%-11.20% No. 3 Sept,
20.02-2002
12.1414-12.3439
UNI.
No. 4 Sept.
1b. fo.b. Malayan
Spot rubber unbaled
Binkel erepe
No. 1 pale repo
8415-8112
14284ER 82.67 004-033'
Closing prices all in pence per
30.20-10.30
Pori Stockholm
15.00-1334
Milan
Vienn
14.53-140314 £745%%-3748 12.58-12.01
Zurich
METALS
NEW YORK
LONDON
B4-04
7531-7056
D3-54
Estate crept in Oct..... 281 thick Oct. 2047 AMSTERDAM
Closing prices all in guilders
ib.:
No. 1 apol
2012-2521
Settlement house term:
234-251
Oct/Dec.
2343-251/
Jan./Mar.
2842-2511
Apr/June
July/Sept.
2575-25%
General markets, c.lf. Lasis, ports:
Oct. Nav
2454-7415
sot-
up
Closing prices all in cents per Ib.: Lead,
-Bept, Oct.
per kilogram, c.lf. Sept:
10.00
No. rubber
230 buyers
10.00
No. 2 rubber
220 buyers
No. 3 rubber
3.23 buyers
$0.00
No. I crepe
2.00 buyers
10,330
-UPL
30.32
30. AY
50.21
30.10
Closing prices were moderately from the forenoon lows, but still ruled net uns changed to off four polats. New Orleans closed unchanged to off three points.
Liquidation and switching operations in the spot delivery, incident to rat nolice day, dominated dealings most of the day. Initial tenders for 8,000 bules met a good offtake froin trade interests. Impact of the tenders was cushioned by the fact that leading spot Interests were buyers of that month at 60 points under December.
A marked log in ginning backwardnes operations, and
of harvesting operations, were other steadying Influences. Gianings to September 15 totalled 1,113,577 bales, repre- senting about eight per cent of the estimated crop. Ginnings to the same time last year were about 14 per estimated crop.
LONDON Closing prices, alt. in sterling per long ton.
Tin spot
3-month Copper uppt
3-month Lend 9pot
3-month Zine wot
3-month
SUGAR
COTTON
NEW YORK
Closing prices all in coats
NEW ORLEANS
35.49 nom.
34.47
30.20
per lb.:
Buyer Seliari
Spol
G01
nea
Gel.
PTI
Dec
Mar.
Juss
Oct.
Det
Mar
35.45
Closing prices all in cents
per lb.:
Spot
33.15
34.70
Dec.
24.29
Mar,
23.97
May
July
36.17
NEW YORK
Del.
Closing prices, all in cents per
Der.
Mar.
33.30
Contract No. 8 (world)
Nov
interest in spot October at the start of trading today 29,700 bales.--UPI.
Mar.
May
LIVERPOOL Closing prices all in pence per Ib.:
American Contract
totalled
July
2120
Set
Oct
cent of the
The certicated stock today totalled 80,852 bales compared 15. with the previous total 80,086 bales on Friday. Open
ot
Chicago
grain market
Spot (World Average)
Total Sales: nine contracte. Opon interest: 670 contracts.
Contract No. 7 (domestic) Nov.
Mer. May July
Semazao
Mixed Contract
3,23 4.30
Spot-Buk, duty paid)... 4.50 Total Sales Ave contracts, Open interest: 1,922 contracts.
-UPI.
U.S. credit for Japanese firm
Washington, Sept. 25.
Chicago, Sept. 25. Grain futures prices declined The U.S. Export-Import Bank
following
today announced steady to strong start an the Chicago Board of Trade
a
today. Many corn, con- tracts made now lows for the reason.
Early upturns in wheat, corn and soybeans were attributed to heavy rainfall and greatly Improved exports. The tretid was short-lived, however, soil- lug set in and prices moved lower.
Oa1 were under renewed ilqulation pressure. Late re ports that the soybean harvest was continuing in areas or light rain caused the decline in that commodity, while corn Coats (JP) Palen 2 Baldwins-1s.weakened on selling by large commission houses followed by Iquidation.
Bradford Pyers. Caffeo Printers Ord-2 dd,
Courtaulds Ord, das 7i4d. Flue Spinners Ord-236 Lancashire Cotton Ord-76 d.
Breweries Distillers Co, Ord-30€ 90. Guinness (Arthur) Ord-332. Ind Coope Ord-Lis 100
Alors Great Universal Ord Great Universal
7150.
Orddy
House of Fraser Ord-17 04, LoRige Extract 412
Lora (3) "A" Ord-548 160, Marks & Spencer "A" OM-1011
ud.
Tate & Lyle Ord-456 dd, United Drapery Ord-30 02 Woolworth F.W.) Ord=52, 4148.
Miscellaneou Bowmaker Ord-15 06. Brit. Commonweal ship. Ord.-376
7!<L
Canadian Pacine
City of London Red-436.
Prop-
Fursos Willy Ord-33
Ferestal Land & Timbers.
Hongkong & China Gas---231. Hudson Bay Com£4-5/18.
56.
Indo-China Def, Ord-20% öd,
Int. Nickel of Canada-3147, Land Bevüriilor Ord–308.
[
Frem export quarters come carly reports that Israel had purchased 1,800 tons of soybean oll with an Additional 2,000 tene being negotiated for by Yugoslavia. Meanwhile, it woul learned that West Germany will be in the world market to- morrow for two million bushels of rye,
The visible supply of grain according to the Board of Trade compilation was:
Whent decreased 3,073,000 bushels this week; corn do creased 2,140,000; onts decrcused 80,000; гy decrcased 20,000; barley Increased 90,000; And soybeans increased 440,000,
What clesing range up to Soybeans closing range up to cent.-UPI.
F. & O. Steam Nay, Det-376 94. | %_cent.'
Miner Angla American Corp. 6A-1231]
Brit, South Africs Co-602,
Britan Tin Investment- Ebneslidated Zihe Old 30.
De Beers Def-132 dif.
Free State Geduld-ēts 30,
London Tin Carp-100 Od
Mount Is-80s.
Petaling Tin-10 3d.
Selection-30s 10%,
Rhodesian Anglo-Amer. Ord-04s,
hodesian Belection Trui
15.03
12.00
1.41
2.60
143
1.00
7.
330
1.00
DAT
Flann Antelope
1.39
#7.10
0.00
7.10
Ithokana Corp,din 3d.
to Tinto (Doarer)-358 31.
154.
Hotelion Trust to det Welkom Gold Mining-10%. West Stand investment "Trust-420 Western toldings-10 d., Bouthern Malayin Tin-554 $4. Angio intonenlais-Plani,lə Dis. Ceylon Tax Ordwa
·Tambak-HUKKUMAYACA,
-auter.
Agreed merchant
rates
Swiss Francs Maximum Sell- Ing 75-6/10.
UNIT TRUSTS
First Hongkong Fund: 1.09 (buywt), $1,17⋅ (allior)
Second Hongkong Fund: 16 cente (buyer) $1 'conta (soller)'
the expansion of a steel plant fuented in the Tokyo. Yoxahoma aren and is scheduled for re- payment over period of 10 US$6,500,000 credit to years beginning in 1905, the the Japan Stool and Tube Bank said. Corporation (Nippon Ko- The Wean
Engineering
kan Kabushiki Kalsha) of Company of Warren, Ohio, will Tokyo.
supply Nippon Kokan with the cquipment. Nippon Kokan is The credit will be used to the third largest steel producer buy American equipment for in Japan.-AP.
A useful machine for the man who likes to make his own dement Without-idő' much back-breaking effort -- thje "Nippy" Baremix, being defmonstrated at the ninth Da-][- yourself and Handleradio Exhibillon at Olympla, London re- Kenlly. The "Nippy's Baromis shown here is powered by an electele drill With « minimaru1⁄41⁄2-incli chuck, with this attachment, the machine will make over half; a húndred- weight of sorrectly mixed sement in two minutes. The dewas can also be turned by hanit, and can be tipped quiso easily, The Erum: can also be swiftly rumfoved and a wheelbarrow body fitted within a ininule. The manufaclarare - sold quit Miele #lock ph the openlag dầy of its Exhibiilan, and bây Kat enquiries ffum Barion, France, New, Kokiaja," Swedeis and Belilah Uniklik, segunda