Page Z
ES.OP
COGNAC
HENNESSY
JORAMIEKSY A 5
CDONAL
PRODUIR, OF TRANCE
Hennessy the finest Cognac Brandy in the world will add the finishing touch to your Christmas festivities. Hennessy Cognac Brandy in 3 STAR, VO, VSOP, XO and EXTRA provides unvarying quality for those who want the finest.
THE CHINA MAIL, MONDAY, DECEMBER 18, 1961.
Make This Christmas a
HENNESSY
Christmas
HENNESSY
Sole Distributors: JARDINE, MATHESON & CO., LTD.
REPUBLIC OF
Dory Prodents
Conned high bshmeal and lish oil
Fruits fresh & red and pores Calcium roibide
Hardware toons balts & nuts stee: ice furnature
Coat & coal la products. *Q*P!
Confectionery all kines
Dicmoc drills
Groundnuts & groundnut od
vegetable oils and peanvi butler Breakfast cereals & products
and food preporations
Refractory material
Metal products sales, steel windows,
household wares, sanitory
Mineral Qres & metals
Hospital equipment
Wool, tops
Freserved Fruits
Tobacco leaf
Organic & inorganic chemicals
compounds, plasticisers
Measuring controlling and scienblic
instruments
Musical instrumenty
Footwea
Parts & accessories for molor cars,
motor car batteries
SOUTH AFRICA
CUT OUT THIS COUPON AND SEND TO:—
The Senior Trade Commissioner for the
Republic of South Africa,
1st Floor, KPM Building, Robinson Road,
Singapore 1
Please send me a list of names and addresses of South African exporters of:
The name and address of my firm is as follows:
Name++
Addres
Total exports from the Republic of South Africa during 1960 amounted to £724,707,178 (US$2,049,886,014- HK$11,610,795,887 - Baht 40,376,542,700)
A lot of waste noted in U.S. economy TARIFF-CUTTING PLAN Unprecedented Kennedy's move PRICES END gets cautious approval
U.S. demand
for Unilever
LONDON
Wall Street's hectic rush for
the Unilever "twins" Unilever Ltd and Unilever NV last Tuesday was the driving force behind the buoyant stock market here this past week.
the
American demand for British issue was unprecedented and according la expert calcula- una turnover here as the coun ters probably was up to 10 mi- Jon shares
Hitish holders,
including the institutions, were sellers at the lugher prices and the proceeds. were apparently being invested Biely Another leading
New York, Dec. 17.
The U.S. economy ran at a brisk pace last
week but there was still a lot of waste in unused manpower and plant capacity —a condition which even in a boom is considered normal.
edi-
The question of not fully used economic potential even in a briskly operating supply-demand system came to the fore in the current debate over President Ken- nedy's request for broad tariff-cutting powers to meet the challenge of the European Common Market,
Cautious
Ken- | government rehef will fe approval for nedy's nove WB for theunang
Pugh Fast week from both dustry und labor, but it was qushiled by so many reservations that as matters stand now the White Boase wordd only achieve part of got and its hands would
* Labour sub by
WH:
egation This sudden injection;
pounds tain
tainly mute unqualined in as
The
several million
into other stocks pumped back heiped the string of rises Fabral Times industrial index arded 64 points over the week and finished a 229 8 against the year's low of 284 7 and the high
365 7.
Gilt-edged
Can-edged met consistent in- vetmen demand until Friday must of the bonds moved higher, metimes up to 15/16 La tier War Loan 3 per cent. of all added biggest issue 11:16 to finish al £52
lended
And Shanghai
higher and
Banks anning overseas Links Hongkong £ across the week to cluse at £18
Oils, fed by
Shell, Spurled upwards all
vards early on but the move-
ment lacked follow through and the counters declined later on. Even so Shel were 5 3 beller Over the five sessions at 117/9 un Friday. Royal Dutch added 19/16 to 12-11 16. British Petroleum yere also goiners.
The Toreign Lond market lacked tre and movements were marginal--UP!.
Exchange rates
Coservers
Sort but noted that it probably has not! ught of all the upben wus
were
10- alau
A5
tariff-
a first step in its cutting granune, the govern ment last week tentatively pin- posed slasting present tariffs on car imports froin Western Eut op-among other products--by aixotat
UP WHERE THEY BEGAN
Tax transactions continued to dominate stock dealings this past week, as prices chosed each other in strange movements which led nowhere.
OR
Stocks moved moderately higher in the Arst two sessions, eased on Wednesday (although the Duw-Jones Industriais index sneaked ahead lu 日 record
tumbled high).
sharply Thursday and steadied on Fri- day, to end up just about where they began.
straight was the fourth weck of uncertain movement within the popular market in- un denuñed dicators, on fairly heavy volume.
and
to worry began 20 per evnt, in exchange for a 20 per cent, analysts who have been telling to prepare clients for months inte cut an importa
Wester
for a vigorous Deceraber rally. Europe, affecting mosty U.S.
With only half the month re- industrial products.
maining and with technical measurements steadily weaken ing some of the experts actually looking for a further decline next week Father than the previously anticipated rally.
This move is
welcome news to cur importers who have had two bad years and only recently have begun to sell more agam. al present need not because it is worry, about d
Bul enjugire.
1
bon tariff tut Eunomists also poimiva out that the chews Kennedy got fremm lab.nur al Minus the wook nejazy equally addressed to his
Detroit to do serwitung. unemployment we to his
Frade
Programin measures of the saine pir grom-
AM
over-
iwi?
which may cevabually prove
manually exclusive
Exports
there may be a time when US ear makers will start complain- Ing
In
The complaint may be that the VS. car probable increase in exports to Europe--as a result of As for dustry. that part tariff culling there--is not en
deals ough to offact the increasE di finte minority – which with overseas was all for in European cur imports here. What governmen! do then? creased
even at the, will the exports
The What will
be the yard lick imports. price of higher
The majority, involved in the do- will use to decide if the domestic mestic market only, would only car industry has been tri en- get the increased imports end of gh to warrant Federal relief?
And how will this work out? the deal and its reaction. naturally enough, was sour
I With all the questions that
it
No change
the
were
Standard & Poor's 500 stock
index finished at 72.01 for a week-to-week loss of 0.93, in- dicaling almost no change in the paper value of all listed shares. The Dow-Jones blue chip average of 30 industrials closed for a gain of 1.17, at 729.10 while rails ended at 143.91, off 1.80 and utilities at 132.83 off 0.91.
Trading for the week dropped to 21.990,435 shares slightly from a turnover of 21,010,850 = week cariter and 17,946,485 in the comparable period of 1960.
Basically foreign stocks had a big week ranking in the
first If, these industry spokesmen this brings up, the first tariff-
three places on the most active asked, the U.S. economy never lowering deal between Washing-
list. Activity was produced by a and Brussels-the head- runs at full capacity, except in
vogue
In the market letters times of international emergen- quarters of Euromart-will un-
doubtedly pose an interesting claiming such issues are under- cy, would not increased imports test case
the later prices in comparison to their on which I put even more slack into
the stages of tariff-cutting may be American counter parts in mestic operations? The answer. patterned -UPL
Sane industry. UPI.
do.
implied by Kennedy last week, was that domestic-type industries will have
start
thinking about exports if they want to stay in business and Krow
And this is where the eru
of the matter Hes; in order to
engage in open trading with
Bank
move
shares
up $4
U.8. economy will have to be Hongkong Banks stood out again today in a quiet
Businers
was done nottichl exchange marang at the Tullowing latters
in the
10^6)
1
thaik
US dollar per $1
5660
Sterling notes iper £ Australian notes iper £1 Japanese yen spe: 100 Ambica and per 109: Freed new maile g
15.32
the Euromart, the majority of
12 455
1.53
*4#)
1 !4
126
5.30
4.001
1 I
047
53
26.50
7.07
Burun mtametre ape A genuine pren bei 1409 Korean twan (per RG! ilaian ira per 1000: Chinese JMP 490 10 Tarwas sue mags Thai baht (per 1001 Burmese kya tv s Pukisten ruper iper 10: Macay palara ipar n Norwegian krone per 1 Philippine pera yper 21
ngapore Stalls per 11 Swis trane per i Netherland: Euilder sper i 1 West German D Mark per li 1.40 Cuba peso per 1
P.O
11,98 770
reshuffled; some types of pro ducts dropped entirely; olbers stressed; yet others introduced for the first time.
This requires capital, a lot of it, and even if it works out will cause at least temporary hard- ship in the form of unemploy ment The government has promised relief to both business and labour to help them over the future difficulties. Neither labour believe, ! Industry, nor 0.80 however, at this point that the
1.20
657
ORIENT
LINES
AMENDED EMBARKATION NOTICE
S.S. CHITRAL
ROUND TRIP TO JAPAN CALLING AT
YOKOHAMA & KOBE
EMBARKATION: The ship will be berthed at NO. 2 PIER, Kowloon Wharf, entrance at NO. 1 GATE, Canton Road, Pas- sengers should embark between 6 p.m. and 7 p.m. on Monday, 18th Decem- bers, 1961.
BAGGAGE:
SAILS:
INDUSTRIAL
DECIDUCIUS
WINES
CHEMICALS
FRUITS
BRON and STEEL
MANUFACTURES
MAIZE
CANNED FOODS
METAL
MANUFACTURI
MACHINERY
AGRICULTURAL and INDUSTRIAL COMMODITIES BURDING
ETSZET MATERIALS
OFFICE FQUIPMENT
and STEEL FURMATURES
CITRUS
IRON and STIR
BACON and
HAM
The ship is expected to sail at 7 a.m. on Tuesday, 19th December, 1961.
Should be sent to the Hong Kong Kowloon Wharf Cola godown (an- trance at NO. & GATE, Canton Road), between 9 a.m. and 3 p.m. on Monday, 18th December, 1961.
NOTE: The ship will not now call at Shimizu
HEALTH:
ALL PASSENGINE MUST B VACCINATED AGAINST SMALL- POX BEFORE EMBARKATION
BUBJECT TO CHANGE Agenta:
MACKINNON, MACKENZIE & CO.
OF H.K. LTD.,
P.&O. Building, Hong Kong.” Telephone: 86211/9
morning on the Exchange. Banks moved up
to $362, a rise of $4 on Friday's closing price.
There was very little move-
ment in other shares.
Lights and Electrics, which were subjected to some profit- taking recently, were firm this morning, each adding 25 cents. Lights closed at $40 and Elec- trics closed at $381⁄21⁄2
Docks
gained $2 at $148. fractionally, Wheelocks dipped closing at $12.10.
The turnover was approxi- mately $1,890,000 this morning, compared wilk Friday morning's $2,360,000.
HONGKO
This mourning's quotations and prices were:
Govt. 31%
LUI
(1948) Bank
W locke
$13.10 512.20 1000 W 12 10 b380 6302 Dock b147 148
573
140
368
200 @ 300
100 @ 360
Lun Reg 6282 £200
E. Asia 23 Lombard D A. Inv HIFE Iny 52180 Whart
5920
8387
400 € 148
203148
Telco
C. Prov
12 ST3 100 do 744 200 g 721
629 528.80 2500 € 2654, ICCO 23%
HK ' 43 43
New
SCO 4313
SU9 or 43+ 500 48 500 Land b73 $734
24673 400 er 73
$30
640
100 40!
Gas 20.30 20.40
200@40
500 g 40%
Gilm
2000 44 20.30
$3.875 1000 @ 3.928
F. & P.
123.20 Realty 02.075 18 wo
30000 x 2.026 (New) 19 82 Cem
640
TIM
Bus
841 Dairy 2,300 @ 403,
60 73
67316 974
40 73
Watson Text
100 @ 23.40
b67 868
bokst
300 20
b5.45 5% 2000 g 6.45 1000 GSX6 1874 #545 2000 # 151
Y'11
128 127 400 120 70-0 128 Light 639 SAU
1000 5.49
N'yang
700 67 383% 500 40
300 v 3924 2500 40 1300 or 40
A. Rub baB
HK Elec
Fhones
Old
633 638
XO BA0.10 510.30 1000 g 20.30
C. Ht! b36% besy
L
A
4
1
6 # 37% Craw 3714-108
100 # 37
་་
2000 325 Rump.
5251%
b12.30 12.4I
900 % Int'l Inv 600 38% 10000381
Mine
Metal b240
btz 43 Vibro blo
500 ** 42
500
Hongkew ħi.325 42% Amoy
145
UNIT TRUSTS
ele
First Hongkong Fund: $11 (buyer) $1,21 (seller). REM
Second Hongkong Fund: 81 cents (buyer) 95 cents (seller).
WHEN YOU BUY
AMERICAN SECURITIES
Consult
DEAN
WITTER
Local Representat
DEAN WITTER INTERI
40% Shell House
& CO.
1.
C.M.
18.12.01.
h