THE CHINA MAIL, THURSDAY, SEPTEMBER 28, 1961.
Wall Street's sharp
New York, Sept. 27.
advance
The Stock Market closed sharply higher in
moderately active trading today. The market was a little higher at the opening. It, moved ahead substantially in the first hour and continued to improve until noon. Some of the gains were erased in early afternoon trading, but the rally resumed in the final Average ruse 2.10 to 330.00. Muure MeCornack lines
hour.
WE AMERICAN SA STOCKS & COMMUDITIES
WHEN
SULL
TECHNICAL
WHEN
BUY
ANALYSIS
On Stock Trends
Research Dept.
PERENNIAL TRADING CORP. 010-01 Edinburgh House
Hong
Tel: 24546,
By the close the market hød igistered its best advance In and most exhelly two months stocks were around their highs fur the day at the final minute,
The Dow Jones 30. Trufustrials | Metro Goiwyn Mayer, men were up 2.43 at 701.13.
The Assoelated Press 00 Stock
Cars, steels 'mil chenleuls led the brand advance. They were | jolned by the rulis, utilities,
electronies and aircrafts.
Volume rose to 3,440,000 from: 3,320,000 shares Mares traded yesterday.
Most gals ranged from a few
Of the ten must urtive stocks, rents to around $4 a share, but
four declined there were wider advances for four advanced, rome of the higher priced and had two were unchanged. the more volatile isúrs,
Minneola Honeywell Minnesota Mining & Mfg Monsanto Chemtent Matlaganery Ward Motorola Ing.
Nation scult National Cash Register National Dairy Prod National Distillern National Gypsum National Lead New York Central Northwest Afriner
77
Yesterday's Closing
COMMODITY PRICES
FOREIGN EXCHANGE
LONDON
Closing rates:
New York
Montreal
7319 Amsterdam
Hea
Copenhagen
Frankfurt
LINDOS
609.
10
281
3742
Usto
PATIK
Ok Mathieson Chen Pacific Gas & Eler Pan Am World Altways Paramount Pictures Pennsylvania 1
4314 Stockholmu
Milan
100%
Veena
Zurich
I'ure
Perol
epst Cola Pier. Charles Montgomery Ward fed the
Phelps Dodge using at 31% Philip Morris Standarri end Poor's 58 Stuck volume list. Index ruze 49 cents to $60.47, Rs 90,
shares. General P host rise since July 27 when It Motors was second, up 14 io Quaker Outs Jivaner 77 cents, The S&P 4934 on 75,708 shares. Inter-Radio Corporation | 125 Industrials added 78 centy state
was Department Stores at $70. Dosed on the index, the third, off 4% at 344 on 73,000
usted value of all stacks listed shares. jon the New York Stock Ex- change gained about $1,300 mil- Hun.
Volume rises
O 1243 issues tried, 093 nerd, 330 declined and 220 els wel unchanged. New lows for the year again outnumbered new hib, this tin by 33 to 16.
HEAD AND SHOULDERS
ABOVE ALL
COMPETITIVE TIRES...
IS THE
GENERAL HCT
Designed for longest mileage
GENERAL
THE HONGKONG TYRE CO.
(Estd. 1932)
TOP QUALITY RETREADING
Hongkong:
25 Morrison Hill Road, H.K.
Kowloon:
Tel, 76-2455
6838Z
Tel. 80-9859
Opposite Kowloon Magistracy, Youmati, Tel. 39 Tonkin Street, Shamshuipo,
The best secretary
in the home...
...or when travelling
HERMES
The most mempert al Ughtweight pertahlen (§ the installing,
Envor), appreciaird by over a million wvern. The secondisi koor buryn of an offer machinus standard kayħuded, earrings, platove. vikken, welting and tench. Nemarkable performances, ilanl
and de base userellane
OFFICII
BATLARD S.A..
HOLE MATHER
AVE BEEN WANT
1. H. TRACKILEN EN, K.3 RTD.
TROMADOR 1951-1803 TARTING HOUSE
ES DES VURUR ROAD CIMIPAL TEL, JATRIJELOREA
More Fune
paillard, moet
Inter-
Raytheon Company Republie Steel
Reynolds Medi Iteynolds Tebscro Royal Dutch Petrol St Regis Paper Sears Roebuck Laiks. She OH...
Shell Transport Jultlal Sinclair Di!
Wall Soreny Mobil Oil of the South Am Gold & Plat South California Edison Southern Company Sperry Rand
Montgomery Ward and state are holding merger Both stocks ruse on the HOWS, but fell when Street learned the terms proposed merger, which not encouraging to the market.
Closing prices
Allied Chemical Corp Allis ChalmerEA Aluminium L. Aluminium Company Amerada Petroleum American Airlines
American Can
American Cyanamid American Motors
Ameriva Smelt & Ren American Sugar
American Tel & Tel American Tobacco Anaconda Company Armco Stref........ Amour & Company,
Associated Dry Goods
Bendix Corp
Were
444 Twenty Century Fox
2014-2017%
COTTON
NEW YORK
Closing prices all in cents per
1b.:
Bot
Vet.
2.86 13/14-215/10
Dow
10.1574-10.10
Mar.
140.35-140, to
May
00-19.30
July
Oct.
Dec.
Mor.
80.45-0.23
20.0213-20.02), 100000P 15.04.
14 529-14.5224
1745 1740 72.37-720 12.195-22,143
--UNI.
RUBBER
13.30 nomi
31.30
34.08
35.08
30.12
30.03
35.11
33.20
35.53
LIVERPOOL Closing prices all in pence per
American Contruct
16.:
Och
Dyt.
Mur.
July
Del
Der.
Mixed Contruct
34.70
Oct.
Der.
NEW YORK
Mar.
May
July
Det.
all in cents per lb.:
Dec.
REX
Standard
Nov.
10.00
23,40
29.50
29.00
-12
Jan.
7
Mar
29.50
23.04
May
29.60
July
807
ZA
Sept.
40%
Rubber futures closing prices,
LONDON
Closing prices ull in pence
-UNI
METALS
Small losses in
an apathetic London market
London, Sept. 27,
Small losses dominated an apathetic market to-
day..
Trading declined in one of. the year's slackert sessions while the index hit the 1001 bottom. Steels were the brightest sector but gals stayed under the one- shiling work.
Unilever took the spotlight and forged ahead, réfecting U.S. buying through Amsterdam, it was believed. The British counters added 9/4 to 138/3 while their Dutch "twin" jump- ed 3/9
100 to beller than ghlings.
Elsewhere among the leaders nost movements were only in pennies. Imperial Chemical,
Fritish Dunlop
Motor Corporation, managed to move tiny Iructions higher.
Tin mines came back In sympathy with the lower price for the metal, golis eased in places while coppers stayed dull. Most dollar stocks declined
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
Business done on the Hong- kong Stock Exchange this morning amounted to approxi- mately $2,190,000, Noon quotations and the morning's transactions:
Sharea
NEW YORK Cinsing prices all in cents per but U.S. Steel gained 1%. Ford HK Bank ..
Biandand Brands
Standard Oil California
Standard 1 Indiana
Standard Oil New Jersey
4315
#58
Standard Q
Öhlu
6352
22
| Sterling, Drug
per :
Buyers Sellers
040
BALET
34
ED 344
Studchuler Packard
Ne, 1 Its spul
25-51
| Texaco Inc.
51
Settlement house term:
15
な
Thompson Ramo W,
Nov.
Tidewater GH
104
D
2311-2015 254-291
Lead
Oct.
8.05
Oct./Dec.
Dec.
10.00
4091
Tears World Airlines
12
Jan./Mar.
2516-2512
Zine
18
Unton Carbide
1229
Apr./June
Oct.
10 60
2014 Unton Oil California
July/Sept.
2-257
-Dec-
10.00
les: 3 points.
Short-dated gilt edged Armed but others stayed neglected.
Зарапове, Greeks and Germans added fractions in the foreign sector.
0313
29 10 363
20 + 262
WAR ALA
Union Pacifle
3471
General markets, c.lf, batis, ports:
Copper
10 Pinited Alregalt Corp
Oct.
24-2511
Det
3024
8964); United Air Lines ...
4122
Nov.
246-241
Dow.
30.21
Teas moved higher rubbers stayed quiet.—UTI.
but
Lun. Reg. 282 280
Lombard ... 40 Allled triv..
ca # 284
100 GT ZBA
040
HK & FE
60% United Fruit
Estate crep
LONDON
71% US. Industries
141
thin Oct.
iblek Nov.
Closing prices, all in sterling
Inv.
21.50
312 21
*Rts.
"
per long ton.
Wharf Cu..
buyers
Bellers
US Smelt & Etefin
325
2233
Wheelock
3
75.
|
Copper spUI
2241
4454
per kilogrom, e... Sept.:
224
63
Yale Towne
31
No. 1 rubber
2.30 buyers
451
Youngstown Sheet &
No. 2 rubber
31
Zenith Radio
1702
No. 3 rubber
736
23% Total Stych Fales
3,140,00
AP.
No. 1 prepe
43% US Lines
14. US Rubber
US Steel...
Wamer Bros Pictures
Western Union T
30% Westinghouse Electric
Allantie Refining
GO
Totdwin Lima inmiiton
Bethielwin Slent
Hockig Airplane
Borden Co
Car
Borg Warner
Surroughs
Canndian Pacte Rahway
Case, J. T. Co
Celanese Corp Am
Cerro Curp
Chrysler Corp
Cities Service
Chen Coin Corp Culcate Palmolive
Cenorah Fl
Filson Continental O Care Products Co Crane Company, Crown Zellerbach Pure Wright
True CorrSeaver pens Douglas Aircraft
Dow Chemieal..... Dupont De Neuvoatrs
Eastern Air Lates Vali Kolik
Foot Machinery & Che
Ford Motor Co.
General Dynamics
General Elretrie
General M}]
General Motors
General Telephone
orgia Pacie Corp
Gelly O
Gillette Co
Goodrich. It. F. Ca
Goodyear Tyre & Rub
Girner, W., &10
Gutt on
Ingersoll Jard
In! Husiness Mach
Tut Harvester
at Nickel
tal aper Il Tel & T Jones & Langghlin Kaiser Alemātikum Kennecott Camper
by Owen Nard Baggett & Myer Lockheed Ax
Lane Star Cement
Co Laillard, P
Mustin Co
Merck & Company
G
-4.11
New York
cotton market
អត
AMSTERDAM
Closing prices all in guilders
Tin spot
monit
3-month
Load Spat
3-monui
buyers buyers Zine 2.00 buyers -UPI
3-Thon put
'We'll have to get
used
to smaller profit
margins': Sir Graham
By Alexander Thomson
London, Sept. 27.
Sir Graham Hayman, the first Londoner to head the £180 mil- lion Distillers Company of Edinburgh talked to me about prosent trading and future prospects.
For the first half of this year," he said, puffing a well-smoked pipe,
"our sales of Scotch whisky have been encouraging.
"But in plastics the prost margins in some directions have become decidedly unsatisfactory due to foreign price-cutting.
"We are having to sell more in order to maintain our tion, which to a large
We are succeeding in doing."
me:
But there was no doubt about With a happy smile he told
lave risen most his views. "Sales
There has been a agreeably. marked increase in the past two years,
"In Germany, Italy and Bel- just- degree Klum they are also showing quite by increases, useful
helped prosperity and tourism",
further
Str afghl Roving Grahum went on: "Australia is a good market at the moment and the Argenting has opened up again.
who lives on Sir Grahams, Putney Heath, work; IB મા room in severe high-ceilinged
a St James' Squire mansion.
Mo-
Once it was the town house New York, Sept. 27. of the Eart of Stramare, to Cotton futures today. 100-whese family the Queen
sawed narrowly in quiet that belongs. dealings as traders, con- tinued to
evon-up counts in the nearby de- liveries.
ac-
Scotch
Now with the house next door it makes up the London head- quarters of the Distillers group Halg, Johnnie Walker and all as Gordons and that as well Booths gin.
"In the USA Scotch always demand in does well but the Canada is a little less strong."
"The higher duty will be an even greater encouragement to Scotch other countries to tax more heavily. In this way there of becoming a is a danger deterrent to our industry's very valuable export trade."
Before the wer, home con sumption and exports of Scotch almost level at around were 7,000,000 proof gallons (Bay 00 millon bottles) a year.
Home sales are not up to the 1939 scale. But the industry's exports are more then three times pre-war. They earned £05 million in 1960.
Sir
turned to the Grabem The chemical side of Distillers busl
ness. With uther Industrial ac- tivities this accounted for 18 per cent of last year's group profits made from sales of £203 mil- 1lon.
"How about the home mar- ket following duty increases in
little the
budget?" thought of whisky at 41/00 bottle with 22/1d of it duty Horrilien Sir Grabam. The pic- ture was "confused" ko sald.
He
At the elase the list ruled Seven lower to 15 points higher The market opened up three to Or five points. New Orleans
The other day rend that
"There was explained:
"In plastics", he said, "a good closed off six to up to 15 points. Scotch was becoming a fashion-heavy buying before the Chandent of dumping is going on. At
Isunce of four October de-able drink in wine-loving France. cellor announced the new credit least that is what I call it.
"How are you doing there?"squeeze. Sales have since fallen ilver y notices: brought home asked 68-year-old Sir Graham off. So we are not yet in a post- liquidation into the spot position to start the ball rolling.
The succeeding December de- ilvery felt the impact of com- nitasion house Beuidation, drop- ping below the 35 cent level for
the first time since last August
1.
Swilchlug operations Involves
In nearby October to December
World
and March by spol Interests and Rex rubbor futures today
commission houses.
Many tradera were anore Interested in the sharp rebind
of the stock market ör awaited
delerinbiation of acreage bl- lofments
notices to-
New York, Sept. 27.
closed 10 to
tion to judge the Impact."
rubber market
A challenge
"Italy, the USA and Canada nre selling surplus output here at low prices. This is a chni lenge we must meet. And we are meeting it. Our sales volume in many directions is up."
But he firmly believes that the outlook for plastics and chemlo- als is as bright as ever. "The he present phase will pass",
"We shall all have to ret used to working oh smaller prodit margins, whether we co Into the Common Market or not", he warned.
20 points higher with sales of nine
In the shipment markel, Cam-forecast.
1 1 anked Sir Graham Heyman, bodia reportedly sold No. contracts.
sheets at 28% rents, white - AR one of Britain's biggest In-
how closed 15 donesia was offering the same dustrialists, Standard contract
he saw the for the cotton crop to 20 points higher with no grade at 20 cents a pound. In business outlook. Under the law, the Sceretary of sales reported. The September donesta also offered
one thin Agriculture must make such an rex contract expired at noon at crepe at 32 cents and threc Jannouncement by October 10. 30 nominal.
browns at 2014 cents, Thalland offered four sheets at 28 centa Improved situation on ter- and five sheets at 27% centa a minai Markel reflected
pound, all October-November higher foreign markets, but shipment cost and freight, more particularly developing
Locally, spot No. 1 ran was alsina of a pick-up in consumter quoted 30% conis and current interest in the sput market, manth 30 cents both nominal. After
prolonged absenec. In London, the rubber market However, some traders thought, war quiet with spot at 29-1/10. inay have No. 1 rss spot 25 25% with no part of the demand been dealer covering ngaiunt, husiness. 28 Males
The four October duy brou total fendera date to 8,700 bales-UPI,
UNIT TRUSTS
01
First Hongkong Fund: $1.10
(buyer) $1.18 (eller).
Second Hongkong Fund:
they inade lu factories) In Amsterdam, rubber market conta (buyer) 92 cents (seller), Jaumetime ago a higher prices, was steady today-UPI,
And how about the distillers whose shares have held up re- markably well in the stock mar- ket this you?
My Impression is that Gir confident. I Graham is quietly asked him le that wore so. He did not deny It-London Ex- | pross Nervica.
Closing prices
Government Becartiles
duated-33
1955/65-883
SavinDE "FO200 20/16,
3. War Loan-£53-1/16.
Overseas Bonds
(Dawes)-93 Japanese, Assented...& JBG.
tanke & insurance Barclays Ord-74 0. Chartered Bank-50 9. Guardian Assurance-191 0. Hongkong Bank-182. Landel Trust-42%. Lloyds Bank-011 Gd. Lombard Backing Ord.-148. National & Grindity-31# 3d.
Prudential A conda-15/15,
Royal Bank of
он
Koyal Insurance Ord.-420 pd. British Petroleum-428 90. Burmah Olts 3d. Sheil Transport Ord-115. Royal Dutcf-11-3/16.
Ultramar Company- 25 100.
Steris Engineering Babcock & Wilcox Ord-34 3d.
[Old
0 340
11.30 111 10000 € 11.40
(Now) ..11.10
HK Dock..
500 gr 11.10
500 11
2000 1
230 e 11
4000 or 11.10
100 11
100 110
1200 110
Taikoo Dock 0014 0111⁄2
2011
2400 110
11K Hatet. 39 3344 200 3 HK Land #115 0236 200 02
400
1000
400 37%
200 1
HK Realty
HK Tram
2.15
1.20 3000
5000 12
Colvilles Ord-53 $350.
Guest. Kaen rd-878
Dorman,, Long258 d.
4.
KM Bu, XD Yaumati Ch. Light
41
UP
[10 112
34% 2015
Harland & Wolf Ord-17
d.
Stewarta Lloyda Ord-43 412.
500 67 $415 4000 1000
Bumirers & Sons Ord-43
16.
Tuho investments-ele d
Electric
United 950.
Vickers
Ord-308
KR Elec.
3% 35%2
Aroc. Ele Industries G
다.
ASOC. Television
Birmingham Bound--30,
Brit. Electronic Ind.-11.
Brit. Ths. Callander 30 d
£d.
Elec. & Mus. Industries-30 English Electric Crd-21 General Electric Ord-20 0d, Philips Lamp Works-1. Rediffusion Ord. 10 36.
derint
ARIOC. Portland Cement-728 12. Foardman Marden Ordus slu. Borax (Holding)—15a_7d. Outen Records Dri--k
Dunlop Hubber Ord-20s 4158.
man (Holdings) Ord
d
International Ord-94 cu.
London Brick
Turner & Newail Ord.-Els. Unilever Ord-139x Jef. Wiggins Tenpe Ord-10 d.
Chemicalr Imperial Chemicals Ord-15 755d.
Monsanto
Ord.
Cinema Television Asoc. Brit. Pictures-433, Rank Organisation Ord-25 40. Stoli Theatres - 14.
Paper Bowater Paper Ord-4% 3,
E) Ord-45, 9,
Tobaccos
De La Rue Ord-6e. Spicers
Hoedd 2354.
British-Amer Ordba Gd.
Tou. Ord-is Dil.
Carreras Gallaher Ord-1s od Imperial Tobacco Ord-081.
MOLOTN
British Motor Ord-13 Oct. Hawker Sidder112r 6d.
Ord-25. TŁA. Јокчат Сага Ro-Royce, Ord- Westland Alteraft-17 d.
Testler Bradford Dyers-Ida 101d.
Ord-22 d. · Calico Paton & Baldwin-410 Coals (JP)
101d.
Courtaulde Ord-12s 11⁄2d. Fine Spinners Ord-224 101⁄2d. Lancashire Cotton Ord-47 70.
Breweries
Distliters Co. Ord-3. Quinness (Arthur) Ord-02s. Ind Coope Ord-12 0.
Stores
Great Universal Oru Urent Universal
1164.
Ord-40s
House of Fraser Ord-37 L. Lyons ( Ord-01 418. Marks & Spencer "A" Ord-1028. Tate & Lyle Ord-45x.
United Tapery Ord-45 J Woolworth W.) Ord=61 ct.
Miscellaneous
Dowmaker Ordu Kİ, Dell. Commonweni Bälp. Ord-870 415d.
ad
Game Paelle Ord-01294._
London Real Top 10 Cunard Beamship Ord Forestal and & Timber-10 g. Furness Whiky Ordu-dóm 44d, Hongkong & China G Harbou Day Co-E4-B/18, Indo-Chink Def. Ord-dis, Lend Berurllies Ord-20s_ad. P.&O. Bleam Nav. Def38 94.
Min
BA
Anglo
Апиксел Сегр, 9А-122м Brit, South Atries Co-4 50. British To Investment-3. Conepiidated Zine Ord-040 Bk.
71d.
De Beera De 101 d.
London
Mount S-85′′ (k).
Petaling in--10 38.
Hand Hefection 10d.
糖度
4730.
Rhodesian Anglo-Amer
Rhodesian
Belection
Hilo Tint therapee
hokann Corp. 131.
Ord-624
rnuul-at
34,
115.
Ronn Antelope Bolection Trust Ord-004 30. Tronoh Mina0=878. Union Corporation-481 $ijd. Welkom (ok), Mining~~1k 4. Western nitumise 10150. Bouthern Mangan Tii-25.
Rubber, Tran Inuman priarsteda St. Con tus Ordal 20 IMATUN TO Ugd-100 l, Kék Luinpur-Rəpany-3% 20. Lambak Rubberta dd,
fruter.
Telephone (Old)
301 40
(RAJ
14.00
15 2000 Op
1700 14.70
2200 14.CO
HK Cas
19.00 19.70
100
300
1915
600 a 19.50
16.00
Gilman
4.025 4.05 1000
Jardince
G.L. Cement
24.70 22.00
Dairy Farm 342 34%
Textile
0.19 Nanyang Mi 11.10 3.00 Amal Rub.. Rub. Trunt, 0.30 City Ilotel.
4.09 1000 4,00 2000 or $8003 2000 of 4,025
22.30
2160 4 2280 2000
60 * 23.00
242 @ 6.10
1000 1138
8.10 70000 8.65
0.113 4000 0.70
-10 34
Loni P & P 28,00 20.00 500 8.70
Humphreya 21.40 Lane, Craw Arts Nav.
EX. All.. 2073 Underwriters
Macao Eles.
sh. dan.*** Паро
100 20,00
100 28.90
300 Gr 22.40
JP1 100 20
000 1.70
14
Jic
1475
ብ" t
13
incere X.D. 8.10
Construction 10.70 Vibro
Exchange rates
Business was done in the Jocal unomictal exchange market this morning at the following rates:-
US dollar (per $1)
0.002
Starting nates (per £1) ....
Australian nutes (per £1) ..
16.00
13.50
lapsings yen per 100 !*** Cambodia riel (për French new frane (per 1)
1.007
0.015
1.125
2.0
P, 10
Argentine peso (per Kogan hewn (per 1,000) Italian
Hirn (per 1,000) Chinese JMP (per 1)
Thai
| Talman yuen (per 10)
kynt
Rum (per your 10
Pakistan rupeo (per 10) Macap patsen (por 1091
1) Norwegian kročie (por. Philippine peso (për 11,
Strafi per 11
FLAMINE FEAnd for i**
Netherlands guilder, Iper West German 1-Mark (per Cuban peso ipar 13
Agreed merchant
rates
Belgian Boiling, 807.
Stones,
9.47
}
1.43
7.170 0904
D
1.415
Maximum