THE CHINA MAIL, WEDNESDAY, NOVEMBER 22, 1961.
WORLD SHAÏT MARKETS U.S. CALL TO LOWER Buyers depressed New advances TRADE
by wage fears
The London Stock Market was uneasy yesterday becouse of uncertainties over the Government's attitude to- word directives freezing wages. Buyers and sellers olike expected there might be changes in the official: pay-pause policy.
LONDON
Government securities sagged,
ahhough
seiling.
Induslad
dull, but their won a few firm
Most leathing Sports ground, and enginning particularly
PAPER
Bowater
#2/7)
c'uns Zimo dusti pponding statemeals by จงด
were
because If
financial
firms.
dowa.
Brewery shares edged ward, but terely took a talia ful the better.
in big sales
The Stock Market made further progress upward in heavy
trading early yesterday.
ام
Warner Eron B
West Union 40 Wengie El 39%
Uitd Aver1 443 Utd Air
3844
YORK
1 Fret
US s US Lines
15 Rel
24
31M 562
Yale Towne 317, Youngs
AN
Sheel Zenula
11
GRU
Al
TRICAST
Gains
key stocks were fractionat, a few going 10 a dular or so Losers in the BTW range punctuated the list The advance was a laboured one Nevertheless,
Most of the
major steeis recovered From and posled Monday's decline
anuli gains.
Big three motors
were all higher. Ford, up about
dollar, was the best gainer- Electronics and
E. אז II
were narrowly
aerospace
mixed.
The pattern was regular also
and chemicals
ILOT- were in- ferous metals. Rails
Tobaccos, air regularly lower
18 Sven
118 Strei
771%
JAPANESE
STOCKS
SELL WELL
Tokyo, Nov. 21. Japanese stock market offi- cials said Japanese stocks
well are selling
U.S. may impose
BARRIERS fee on cotton
New York, Nov. 21.
The Kennedy Administration called today textile imports
for broad powers to negotiate trade barrier reductions in order to compete with the "galloping economics of Europe and Japan."
RUBBER MARKET REVIEW
45/0
242 Ba
De Kit
Spreeze
Wiggum
03/0 CPH 38-0 5046
7 .
Cheer
1 .
CTL foh
1976
TOBACCOS
Curd S
157-
RAT
Fortai
9/th
alteras
Furness W
32/70
there was tot much
Trips
HK GAL
23/
MÓTORS
udh n R
BMI
1479
Fido. Chusta
1 1779
gemtraily
Tak tudel 27 3, Jug
12AV7 ( It-Ty 347, 14 TEXTILES trues lust
shaves Bradford
Carlo depressed
1and Sr
MINES
31.0
30.9
Arkio US
17/3 12
139 #
Art ku
At 57 T
317 Courtrubk ZHAPA Fine Spin
Melt 74
1973 411
issues
202
Land 48/301,
e Beers 141, Gun Tan
18-70
BRYWKIF
Ma
M420
DEN
Guarde
39/3 35
Petal:
6
42 N
Foto 14 30
* Angh
118
503
STORES
MTINI
40.
A
53, 503
Rup Ant
4
ざない
Welke an
M Sport
A
136 We Hold 21,
S Mui 1/10
ой
RUBBER &
Pale Ale 4 14'; I'd l
TEAS
war 2,130.000 shares
47/8 Auglo Ind
Woodworth $3/75 MUSCELLANE-
In Tea
4.3 11/4 77/9
16
Kl. Kepone 7/8.
46 3
Daw-Jones closing averages
Industria$u
Boute
2
Haaks
were 729.32 148.66
1
Polities
134 79
to Stock
+
isunds
149.30
stucks
TR formation at
IN one such organisation in 249.84
84.32 ton and
simtar plans for organisations in
United,
the
COM
spot price index
149.60
-AP & UPI
1
The market closeḍ quiel. In New York.
Rex Rubber futures turlay closed 40 points higher hower to seven points with sales of two contracts.
Standard
rubber
futures riosed two to 15 points higher with sales of five contraels
shares
The market for gold was idir. and the lendency of
Tin downward.
prices
WAN
eased, but eoparts moved very little
shares
fluctuated very Cli file, and nond the day about where they started
AF
Closing prices
GOVT SEOS
2. Consul
A Curr 51 13:16 G. Kren
SUN
55/46
ל
95/75
4 Vie
19 11/30
34, Ww 51a
HEAS BONDS"
511 Austruita
[MFT/B0
52 Dawes
5% Jap. Ass 159
BANKS &
INSURANCE
Баг
Chart Bk
Guardian
Landel
loyds
3.or
Nat & Grind
Ry Cun 27.
As Ki
1379
Wet Bag! 42.
Bowke 15/6 Lambak
Cale Ples
507- 24/11
G
13/41
outh 16
ten tyde
37%
Buzestor
4373
047
Pod St
49/3
26:1
KRUTRA
3378
Ass Tel
127
ย
Br
AN
EMI
216
Fog E
317-
GFX
27/0
87,3 Philip
23/32
5470
Redto. 46,7
02/0
INDUSTRIALS
HK Bark
Az P De
58/3
60/%
Bop roman
3
13/0
Bo
15:41
Decca
28/11
25-15/16
32,
Giznan
5/
46/3
Int Comp
UL
Turn New 50/17
Tow.
kards
Bru Per
33/8
Burnin
32,
CHEMICALS
Shell Tr
312/0
Ri
Both 17
Muspoate
Prud
A
Duke
Ultra
STEELS
ENGINEERING
B. WI
.יל
21
es and drugs went ahead on bulunce
Today's volume was 4,890,000
shens
O a total 1.328 issues traded 532 were higher and 556 lower
Exchange voltime American
Honds volume amounted 37 990,000.
future price inder
COPPER
PRICES SAG
London Niss
The ten market win, drady al
lower levels Copper prie sage
5:00 din maderate deabag todas,
Unilever 20/0
27/167
CING MAN TY
Feart and ine were quiet
In New York, cuppet faktres tradas closed five to 15 jenis
with sales
234
Although slightly more generally
17/0 cf without special fra
25/9
Spending some
1/3 ccntives - UP)
mehed-up new ang
Closing prices
A 1 100
Allis Chal
Dunlop
Assa Pas
Rank
V
Btol.
POLINA
time
the
traders
DAILY EXPRESS
(LONDON)
REVIEW
of the
1961
MOTOR SHOW
PICTURES AND DETAILS
OF 150 CARS
PRICE $2.00
from the
Hongkong & Salisbury Rd.,
Kowloon, offices of the
R
South China Morning Post
الا البال
Comineree Secretary Luther Huders worner! that atver United States "cannot ronder the power of the European Com- mon Market through a return to protectionism
"Our best hope lies in em
powering the President 142
negotiate on tariff reductions on
enough basis to meet a broad the opportunity and challenge of the European Economic Com munity and other trading blocs.” Mr Hodges said
Singapore, Nov. 21. The market ruled quiet and featureless throughout the morning with general fack pared for fite abroad
of interest. Lower sheels neglected.
Conditions continued dull through the afternoon with
displayed isolated interest nearby sheets.
despite the slump in the market here.
The officials, quoted in pre reports here, snid the popularity of Japanese stocks overseas for indicated by the securities com. panies to establish organisation designed
Invest in i
were
largely
10
States and Switzeriund.
Th
reports said Japanes The terminal trade was be-
branches in tween dealers and again with 1 unu Los Angeles out particular feature. imexpectedly good Raid.
Generally Ministry figures lime awaiting
Mr Hodges. In a speech pre- Sales Executive of New York Club of
outlined six-point plan which could set the tone for the Administration's trade proposals to Congress.
Five steps
Mr Hodges said the United States, in addition to negotiating trade barrier reductions, musi.
"Giet thore American *
companies to throw their weight into the competitive bat- tle." He said only 4 per cent of the US. Arms are exporting.
In the Netherlands, 29 per cent export,
"Modernise plani and
to equipment
increase productivity and reduce costs."
more research money to create "new
traders
traders
marked леж incentives
* Spend
products. better cheaper products.”*
that foreign investors from anywhere to revive mark-
*Q! bi>d about 17 million interest
shares of Japanese glocks durtang The third quarter
of the ywu". olam three umes the numbr
Shipment
offerings
were
gh and factory interest down to a minimue in the delivered
dung the same period last year market. Some No. 1 sheets were
COTTON
MARKET
securities
854
Libby Owens Da
New York
201
Liggett My 110
Enjoying
APD Ind
Lockheed Air 47,
Business
Alo Co
$34
Lone Star
241
Aade Pet 991⁄2
Lorillard
BR
Finance
Am Air
20
Martin Co
30%
showed
Merck
87
Air yan
MGM
SO
Mat. Mutors
17
Ani Sport
4:21.
Minu Honey 137 MAIN Mir
TI
AM SREDI
Munsartether
A&
$52
A: 1h
SPRAY TA
101
5.
Monie Ward 22.
Moore MCK
TO%
---
Armen Steel 70
Motorola
82
Armwar C
49 108
Nat Bist
91
Nat Cash
136
Altanatio
530.
Net Dairy
79
Held Lanvin
150
Nai Dist
25
Be
624.
Nat Gy
SIN
Beth 51
40
Not Lord
3.
BULK
47.
NY TH
10
Fionden
75
Norwest Alr
Borg Warner
952.
Ohio O
Hurtonghe.
36
One Math
41
PH
24
Put Gas
101
Case. J 1
7%
207%
30%
Peramount
551%
Terry Corp
31
Penne RR
17%
ysler
41
Peped Cola
36
Cotton futures today closed
les Serv
51
Pize has Olj
Coca Cola
10
Phelps D
583
on a note
Coltale
531
Philip M
of strength,
116
Comm Ed
48
Pull Pret
overcoming
on
earlier
Cons Edison 89.
Pure Ol
48
Corn Prod
617
Crown Zell
61
epub Sti
169
Reyn Tob
821
Toyal Dutch 3242
Dongina Air
37
S: Regis
73%
Seats Boe
17
250
Shell Ou
1 IT points
4621
25 108
Shell Trank
157
Sinclair
365
Food Mach: 1. Fred Motor 111% Gen Dynam 27% tien Elce
74
Gen Mills
34
Celanes
Crane L'e
Wright Disall
Dow Chemi
Dupont
East Air
E Kokk
Gen Motors 53% Gen Tele 20 Geori Par 561%
Getty
روون: 22
uker O
را با لونه
33
ty
Radio Corp 553.
Haytheon
Sperry
זן:
Su Cul FM 987, South Co
CAT
Spe Rond 21 sland Brands
15%
381 Stand Ou
Culifi
52 Indiana $21%
165
(New Jersey 1 46',
Obfor
S
77
Ste. Duk
47
Goodyear
40
Studebaker
100
Grace, W.R.
M
Texaco
$3
Gulf Oli
Gillette
Goodh
Ingersoll
R2
At Bus M 588
TMI HON
Indi Nickel
Inti Pater
40% Thomps
RATI Thtewater
O! 2th Cent
FOX
51
اتوق
1 Tel 5634
June Laugh 087% Kaner Aluor 31 Kennecott
New York, Nov. 21..
period of irregularity and
renewed pressure on
July delivery.
Finishing around.
the
day
best loves the last ruled up 24
New
Orleans
closed up 25 to off # points
The 1963 deliveries responded to connaission house buying and shuri covering, prompted mainly by techni reasons following the rees
seasonu! Slump o kowy.
reported done out of London t 26% cents & pound, cost and November-Decen- freight NY bet shipment
Locally, spot No. RSS was quoted 27% cents, and current month 27% cents a pound, buth nominal
rubber In Amsterdam, the market was quiet today--UPL
NEW YORK
SUGAR
MARKET
گوییم
New York, Nov. 21. World No.
futures 9 sugar Today closed unchanged to live
with points
83 les higher lace contracts.
World No. 7 sugar closed un- changed with sales of one con- tract Cuti-
The Covertiment weekly crop summary today wid harvesting mnde Koni
progress in
Although trading
world contracts
the
was light, showed
form, tar over other con paucing areas, conditions were generally unfavourable tur pick-¦ underlying trimness mainly iri 66% ing
1977
3212 Tre-World 11 Pium Carb 12679 Games Of 81%
05 m Pac
P.O
36
seller
ir
response to a European report Raw cotton exports for the that Cubs had withdrawn as a season to November 17 totalled
The world market. 1.538,930 ales vs 1,249,348 bales
Cuba was
said to reported to the same time last year, according to the New York Culton Exchange-UP!
ORIENT
LINES
S.S. ORONSAY
Sailing from HONG KONG for SYDNEY via MANILA thence to UNITED KINGDOM via SUEZ
EMBARKATION: The ship will be berthed at NO. 5
SAILS:
BAGGAGE:
PIER, Kowloon Wharf, entrance at NO. 6 GATE, Navy Street, off Canton Road. Passengers should embark between 6 p.m. and 7 p.m. on Wednes day 22nd November, 1961.
The ship is expected to sail at Midnight, Wednesday, 22nd Novem- ber, 1961.
Should be sent to the Hong Kong & Kowloon Wharf Co.'s Godown NO. 2 GATE, Canton Road, between 8 a.m.. and 5 p.m. on Tuesday, 21st Novem- ber, or between 8 n.m, and 1 p.m. on Wednesday, 22nd November, 1961. Passengers should only take light hand baggage that, they can carry themselves for entering at NO. 6 GATE on embarkation.
SUBJECT TO CHANGE
Agents:
MACKINNON, MACKENZIE & CO.
OF HONG KONG LTD.
P. & O. Building, HK.
85211/9.
Previously ipv bad a minimum export selling price of 2.50 cents a
Hund. FOB.
Also, world traders reasoned that a filting of economic sanc- Frons against the Dominican Republic might mean Jarge: sugar shipments from there to U.S., and 5 consequently lessening of sales trom that country on the world market.
Elsewhere, the sale of a cargo of 10,000 tons of Taiwan white sugars were reported to 日 domestic refined at 8.26 cents * pound, delivered, plus an tin- disclosed premium.
The sugar is due at New Orleans about December 13.--UP).
Baltic Exchange
London, Nov. 21. The grain trade has provided the bulk of business in what has been a day of moderate activity on the Baltic Exchange today. UPI.
AMERICAN STOCKS & COMMUNITIES
SELL
WHEN DUY
TECHNICAL
ANALYSIS
On Stock Trends
PERENNIAL TRADING CORP; .815-818.... Edaburga -House
products, ¡
"Malalain pelec stability. ⭑
Fand Wages
profits "should not exceed producti vity
Do a better job of selling.
Outpaced
We have been outpaced in terms of increases in industrial have lost productivity and we ground in the price from," he seid.
|
Washington, Nov. 21. President Kennedy today asked the U.S. Tariff Commission to investigate and advise him whether an import fee equal to the eight-and- a-half cent U.S. cotton export subsidy should be imposed on the cotton content of imported textiles.
If the Tariff Commission finds that this is necessary to protect the domestic price of cotton, which is govern- ment supported, then Mr Kennedy will be free to impose what amounts to a substantial increase in tariffs on cotton textile imports.
The White House made public a letter from Me Kennedy to the Chairman of the Tariff Commission, Ben D. Dorfinan, directing the Commission to investigate immediately and submit its
**s recommendation soon as practicable."
A Presidential assistant, Mr Myer Feldman said that, as things stand now, colton goods are coming into the United States to an extent that it reduces the amount of products processed from cotton domestically, and thus affects the cotton price support programme. The less domestic cotton used, the more there is that must go under price supports, he said.-UPI & AP.
SHARES DROOP
ON HK MARKET
Prices continued to ease on the Hongkong Stock Exchange
because of lack of demand.
The turnover was $1 88 mil- lion which is slightly above i
last
lo the average for the mornings.
The entire list with only one or two small exceptions, was Jower.
HONGKONG.
This morning's quotations and prices were:--- Busik
He said. "There has been a
Banks dropped down with weakening of the U.S. position in world markets."
the easing in prices of Bank
| W'lock The situation is "particularly shares in London, to $354,
Wheelocks, which closed rough,"
said. because the
ended
the I United States
yesterday, "has
urgently $12.50
a Dock trade ning down 20 cents on needed to improve its
7,000
Docks were drain on
position to offset the
turnover
our balance of payments caused down a dollar and Lands,
ald by foreign
military commitments."—UP).
and
Exchange rates
UTILITIES EASIER
Jardines
חנ
al
50
Land
(0) 434 435
132 1334 Phone: BO w 356 90 394 12.30 K12.40
Gas
500 12.30 5000 i 12.40 1000 12.30
122 B2 300 134 200 123
071 $714 EwW 100 72 1500 71
a Realty 62.15 2 175 Bod
300 i 2.33
5000 2.15
b39 €30
6735 674 400 743 701 74
50
1500 390 7215 39 4000 in 391
300 * 431) T431
100443-2
1000 431
120.00 321
2500 20,00 14.130 04.20 18000 à 4.15
24.20.
50 & 24.39
2004 24.30 250 @ 24.10 2000 24.10 Cement 565 96
Watson
100 65 1900 & 65%
basis
500 56
55.05 6000 A S
6218 190 20
a39
500 a 98%
I Inv D12.60 813
Mine
Amoy
1000 12.80
58 te
20000 Vic
b45
rents.
Realties heid steady turnover of 15,000 shares
actually picked up 2
cents
5000 @ 2.175
during the morning.
Trail
2000 & 191
Bus
A
Rub
in The Business was done unofficial *ki hange
Marker noming at the following rates- US dollars (per $13.
local this
All utilities were easier ex- cept Gas which efused steady at $20.90.
Y'
118
Star
150118
Craw
20 119
100 118
.856
25.77
$24 10
12.34
moved down on Jour sales and Cemenis cased 50 cents.
1
Light
130 8392
EDU. 3034
8.HD
12
1.00
5.20
4.00
दि लोड
market.
0.43
1.25
28.50
for half a day on Wednesday. 5.48 the prices below are the
eles-
7.20
0.990 ing rates.
7.63
1.29
1.80
131
Netherlands guilder (per 17 West German D-Mark (per 1). 10 Cuba peso per 1
AGREED RATES
For those interested in Landel Trust-an associate of Wheelock Mardens-it will be seen in team prices that has 152 day's London
share is quoted at 58/3
against 0.8055/8 the previous day. This is obviously connected with
between new link-up
the
Landel
Stering ter per £1 Australian rutes per £1 Japanese yen pe 100) Cambodia re per 100, French new truoc tper 1: Braziban cruzeko (per 100) Argentine puso (per 100 Kopean hwan (pen 1900, replan heo (phi 1990, Chinese Jper 1 Talwan yuen (per 100, Thai baht (per 100) Burmese kyat per 10, Pakistan rupee (per 10) Macau pataca per 11 Norwegian krone (per 10) Philippine peso per 1 Singapore Straits (per 13 Swles franc per 1
|
Watsons show no inclination
follow the general tread and i rumained quiefly steady at $50 Eler
And that was the
morning
As the market is open only |
Canadian $ maximum selling and the two Lloyd's syndicates 18-5/32
Minimum buying reported in this paper on Mon-
day. 18-13/32 T.T., 18-15/32 O.D.
Yesterday's Closing
b38! $30%
100 3024
1016 38%
700 IN 88
309 384
500 N 3814
600
381
100 & 45 13045
Sincere de săлO
300 815 1050 Ba
U. Walet.
JAVE
1000 # 29% C. bic
UNIT TRUSTS
Buyer Prices, first Hongkong fund: $1.14; second Hongkong ・・ fund Ex. Div.: $0.90.
Seller Prices, first Hongkong
fund: $1.22; second Hongkong fund Ex. Div.: $0.96.
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK
Closing rates:
Canada: BULL: England
official 2.8105; 30-days: 2.6100; M-days 2.7090 Australia; 2.2535; New Zea land: 2.00. Others unchanged. UPI.
COTTON
NEW YORK
Closing prices ali ini dents per 16: Spot 35.60 Dec. 34.20:** *35kr. 94.991 May 30.30: July 34.00 Oct. 33.14 Dec. 33.88 Mar. 14.00 May 4.14.
NEW ORLEANS
Closing prices all in cents per J9.1 Spot 130 Dec. MAF. 55 OUT" May 3542: July 0606) ONS, 53.19; Dec 20.00 M2 8124) May 04.18.
LIVERPOOL D Closing pétors all in pence per
Mary 21ddr: May 2010; July 2001 Oct. 24,301 149. 24.4;, Jan. 24.05.
Mixed. Contract: Due: 24.10) Mak
SUGAR
NEW YORK
Closing prices, all in cents per ib.:
Contract No. 8 (world) Mat 2.46; May 2.50 July 2.55; Sept. 2.01 Oct. 300; Spot (World Average) 2.48.
Total Sales: three contracts Opan interest: 801 contracti............
Contract No. 7 (domesilo). Mar. 0.30: May 432: July Sept 0.40; Spot-Bulk, duty paldi
Total Sales: one contract
Open intercel: 1.130 contrac
RUBBER
"NEW YORK
0:30:
~Rösser fülures closing prices, all in cents per lby
TIDL. Nov: 27,10,1
Standard Nov 2752 Jan: Marg 27.35; May: by Jury:
· SINGAPORE IN
No. 1 Dee's 151-7536
No. 2 Dec/24-74m; No. #IDEO: 73: No. 4. Deb: 71-72347E
Spot rubber unhalede ala Blanket crepe: 71-12 No. 1 pale creps: 251-60
AMSTERDAM
Closing prices all gutfarts per kilogram, c.lf. DeNE
No. 1 rubber: 2.27 büyüyü NOLA rubber: 224 buyers; Noth 2.22 buyers; No. 1 crepe: 231/
METALS
NEW YORK Closing prices all in cents. 1b.:
Leed Deci ab: Jan: 9,41) Zing Dee: 1040: Jab: 10.1. Copper 176: 29.31) Jan: Mar: 20.381 MAY: 28.35; Jund: 29.201 July: 20.20; Hept: 29.18: Novi
LONDON
Morning Besnicas Closing prices, all in ater
per long toh
Tin spaly Neup põle; 3-month: 0071) at
Closing prices air In Brattyaspand, Spot: 8UINE ORIGI gente per lb. 10,b. Malnyanzino Spol:Y AGI porte: