1955-05-23 — Page 9

As

1

Swearing-In

Ceremony For New

THE CHINA MAIL, MONDAY, MAY 23, 1955.

TRADE and

COMMERCE SECTION

Page

Settlers BRITISH CIVIL AIRCRAFT LONDON STOCK EXCHANGE

Wellington, May 22.

New Zealand proposes to follow, in part, the pro-

cedure adopted in the United NEW YORK

States, Canada and Aus- tralia for the "swearing-in" as naturalised citizens of new settlers,

Generally speaking, they are not at pre mi large numbers of certificates

naturalisation

ان

being granted since the main bulk of New Zealand's post-war inmigrants have not as yet ful- filled the necessary nyidence re- quirements, The Secretary of Internal Amurs, Mr A. C. Har- per Stresses, however that from now on the numbers will tend to rise steadily. The Depart

of interribl Department Affairs has almost dreided upon the form of the ceremony to be held in the four main tres New Zealand citizenship when Le conferred on new settlers..

SMALL CEREMONY

Batif such time as members Require other arrangements. It is suggested that a smali, digni- Sed teretrony should be held in the Mayorul chambers of Auck- land, Wellington, and Dunedin.

a clase interest in the cerTMNAS

would be inv.ted.

STOCK

MARKET

REVIEW

14

By Elmer Walzer

New York, May 22. Paced by specialities and defence issues, the stock market finished the slowest) trading week in more than six months with gains ranging to more than $2 a share.

VEDOTS still appear Highly

The decline in Woll i

The market advanced in three of the five trading sessions last week. After a shaky start on Christchurch Monday and Tuesday, defence City councillors sues sparked a rally on Wed- and members of local bodies andnesday, which carric through

for the balance of the week. organisations which would have

Demand for steeks was only hoped that dignity winmoderate. Despite the Towing be lent the occasion by optimism. In Wall Street, Mayors appearing in their offelat -robes, and it may be considered desirable to have the New Zea- Iana Bay in vitience, It is also hopea that it may be possible for Mayors

10 arrange ,some forma:

Kathering after ceremony

to enable eitizens to natt official guests.

The Department said -certificates of naturalisation (and argistration) would be retained by the Minister until there was sufficient number of applica- Lions

in centre to make 2 worth while Then the ceremony place and date of the ceremony would be fixed.

"

the

the new

that

At the ceremony, the Town Clerk would inform the Mayor that certain persons were pre- sent to complète the acquisition of New Zealand citizenship by taking the Oath of Allegianęs to her Majesty the Queen, making effective grants of naturalisş- tion approved by the Ministèr of Internal Affairs.

ADDRESS APPLICANTS The Mayor would ackiress

then

SUPREMACY

Third Of Large US

Twin And Four Engined Market Captured

י,

From Our Own Correspondent

"London, May 22.

The British aircraft industry has just passed an historic landmark. Within a few days of the delivery of the first of 60 Vickers Viscounts to Capital Airlines last week another huge American concern, United States Steel Corporation, placed an order for three more of these famous aircraft.

Sweden's

Ore

Exports Up

port

Stockholm, May 22. Sweden's [rorfors ex- parts totalled 2,900,000 toxa during the first quarter of 1953, as, com- pared

with 2,600,000 for the

Fate period of last year, according to a Te- by the Association of Swedish Steel Works. Shipments of pig iron rose from. 6,500 to 7,500 tons

The aurrerate exports of commercial iron and steel increased from 41,200

53.200 10

tons and of manufactured iron and steel products from 10.200 to 13,300 tons. Importa of commercial iron and steel went up from 159,900 to 246,000 tons.

The domestic qutput of plz iron rose from 240,000 to 311.200 tons, while the production of sponge iron fell from 14,300 to 13,200 tom. The output of ingols increased from 410,400 to 558.700 tons and of forged and

Lot- hot-rolled and

and steel from 305,000 to 391,200 tons. The stock of orders at the steelworks

to be is reported

Very satisfactory in terms volume.

drawn

iran

products The Viscount thus becomes the first British plane to: earlier in the week. oust American civil aircraft from their own internal air routes. The significance of this is not merely that Britain has gained two valuable dollar orders together worth $70 million-but that it reaffirms the supremacy of British civil aircraft.

euutious. Street, stemmed from the Federn Re- servo pressure against the mur- ket, including the recent two in- creates in margins and tighter money rates generally.

MARKET BOLSTERED

Laic in the week, hower ?. weekly production figures bolstered the market consider- ably. Steel, auto, and other major lines continued to hold" around record levels, Current forecasts also indicate the pos- sibility that this trend will be maintained for the balance of the year.

As measured by the averages. industrial shares finished the week with a gain of 3.33 to 422,89; railroads added 40 cents to 137,41; utilities cents to 63,91, The market average cents to 158.02.

rose two general

N.Y. COTTON

MARKET REVIEW

By William T.' Plunkett

New York, May 22. Cotton prices settled back irregularly last week in one improved 19 of the slowest trading

periods of the year.

A number of electronic issues did well, RCA jumped 34 points to $49.

Railroad shares

TOSC

Uncertainties relating to the crop picture, form legislation. export outlook and Internal mere technical market conditions, all

-

has an undis- | Atted

be

Meanwhile constructers

of

HONGKONG STOCK EXCHANGE

Confidence In Tory

Victory

Boosts Market

From Our Own Correspondent

London, May 22.

Growing confidence in a Conservative victory at the polls next Thursday and a particularly good batch of company results started a hunt for first class equities on the London Stock Exchange last week and lifted prices throughout the list.

Gilt-edged stocks went ahead at first on the improvement in the international situation and though some gains were not fully held most prices were up on the week. At the "close" War Loan 34 per cent was 10s better at £81 7s 6d.

Fears that defence expendi-panies making proât statements. ture might be cut now that the Roll-Royce went ahead strongly international tension has been on the company's record earn- somewhat eased caused a sharpings and gained 11s Bd to 9is. fall in prices on Wall Street carlier in the week, but these fears did not have the effect in London.

same

INDUSTRIAL INDEX

The Financial Times index for industrial ordinary shares gain- ed 6.4 to 194.6 in the week to Thursday's close when it stood less than three points below its

peak.

VOLUME EXPANSION The now account in the middle of the week covers the election all-time and Whitsun holidays and was But some of the shine went off Imarked by a sharp expansion the market on Friday when the in the volume of business, The railwaymen added their own number of "marking" was around strike threat to that of the $12.000 about

9.000

Goed profit and dividend new's One of the effects of a Social- led to gains among oil sharer.

from several leading companies ist defeat in the election would

South be to remove the threat of re-were enlivened

African gold shares

by a midweek ·· nationalisation hanging over

the

rally but turned dull again later steel industry and now investors

weeke

a day compared with dockers.

in the previous

that on.

Britain now

with British turboprop puted lead over all her rivals in engines - four Rolls Royce the field of civil aviation. The RB109s. de Haylfland Comet stili Has the distinction of being the only

British aircraft are lengthening pure jet aircraft ever

to have

their lead in the field of pure flown in regular passenger ser-

The new

are confident that this vice; and despite its recent set- et passenger planes.

defeat is all but accomplished backs will soon once again.

strced Comet 11 with four

Avon jets is due

they are taking a better view blazing new trails across the **

to be delivered later this year

(From Our Carrespondent) of steel shares. world's airways.

and

Apart from steels range the bigger long

the most Meanwhile the Bristol Britar-Comet IV

Business done on the Hong-sought after shares were those with four Ras-

kong Stock Exchange this morn- is completing its record Ret

Royce engines Avos Jet

ef companies producing capital breaking trials and will go into scheduled for delivery in 1958. Noon quotations and the morn-benent from new development

ing amounted to $1,400,588.30. goods who.

ho are expected · the service with BOAC next year to No ether aircraft company in

***ing's become the world's first passen- the world will have a four en- transacti ger carrying long range turbo- gined jet airliner-ready for F1937 92 30005 prop airliner.

delivery that date. It will be BANKS

by

HK Bank a year ur two later before the

.. 1975 1680 American Douglas and Lockheed East Asia

214 jet transports will be ready to INSURANCES go into service.

Union X All 22215 Lambard

nja

а

ress the applicants, making references. it is hoped, to such things as the seriousness of the stop being taken, the meaning of the Oath and future allegiance, than à point, Hercules Power served to turn more trades to comparative merits of turboprop Royce Conway bypass Jet-for

is done on similar occasions paced the chemicals, with a gain the sidelines. Australia,

of 64 points to $118. Monsanto

Canada and the

Chrysler and General Motors

The selback came after the

AL Friday's close the list ruled Unico

'States.

Chemical was another feature 3 to 19 points-10 to 95 cents a Each applicant would then be

here. It tacked on an improve-bale lower than the preceding

week. by the ment of 24 points to $95. called up intliv.dually

Mayor Town Clerk, and the would administer the Oath of Allegiance. This would normally ke done by the

reading applicant aloud the form of Oath printed the certificate while, holding

Bible in the left hand. Ther

01

the

which

be made

may be few cases in a legal affirmation will

instead of

the

Laking of the oath. In that case, the ap-

would plicant

then sign the curtiscate in the presence of the Mayer, and officers of the De- partment

would attend to the necessary fornwlities. The certi-" ficate would then be handed

back the Mayor four formal presentation to the applicant.

Witnessing of signature is un- avoidable since that is the procedure required by legislation.

China Mall Special

Soviet Aviation

Surprises

America

Washington, May 22.

The American magazine Aviation Week said today that progress has

Soviet aviation

practically "reduced to

zero"

the technical superiority the United States had possessed up

present.

to

the

The

an

SET-

after

DOCKS, ETC."

Dock

Provident (0) Wheelock LAND, ETC. HK Hotel HX Land

23

Exchange Rates

Business was

done in the local unofficial exabange market

this morning at the following rates:-

3.85

US dollar (per #1) Sterling notes (per 21: Indonesian rupiah (per 100).

13.00

15.70 programines now under way in many industries,

But the week's biggest ad- 336 1880 Vances were in shares of com- 142-1080

404 325

13 13.40 1245 13 120 7.30 4000 7.30

17.30 17.60 1506 #2 -17%1⁄2

07 10368

100 7 82155

300 5815

and

This

ré-

prep

which

Darts) it runs

jet airliner to go into on kerosene service on regular air routes. is much cheaper than

28.70 Humphreys

5.80 Realty

9.07 UTILITIES

TYAM

21. Star Ferry Yaumati Ferry 110 Jik

1000 @2.0715

500 115 1400 117 500 118 45117

VISCOUNT PARAMOUNT But it is the Vickers Viscount Britain's lead is civil aviation which has done most to make

secure. And it has practically

favour ended the argument about the new type of jet engine-Rolls-

Vickers engineers

over petrol engined and pure jet long range passenger work and planes for short and medium their projected 11:1000 troop range hauls.

transport plane will be powered Vickers attribute the success with four of these when it goes of their-Viscount mainly to three into service between 1958 things:

1960. And this plane may be were up more than a point each July delivery on Monday reach- 1. Being powered by turbo-the prototype of Britain's in a firm automobile group. ed 34.35 cents

a pound.

engines (for Rolls-Royce second Metal moved upward underrepresented, a simulative the leadership of the Aluminium every of $5.40 a bale from the Company America which low made in March.

of

NO HINT registered a gain of 3 points to The lack of defenite new in-

R 13 much easier and $115

centives to develop

maintain than a the cheaper to DYNAMICS LEAD

recent expiration of the May petrol engined airliner-the im- factor in airline contract was another foreground portant Gentral Dynamics led the attention. Although agriculture economy

the air i vibrates Benson said he much less than the petrol en- market in volume on the week. Secretary Mr A total of 160.100

decision "well in muc

! shares would make changed hands and the stock

gined planes and this makes it Advance

the new finished at $61% up 3 points. commencing Aug. 1, he gave none of the most comfortable

Transactions this week

of what the fell hint of

Department craft in the world a point to the lowest level since Oct.

which passengers have not been decide to do. 29, 1954. They totalled 10.882,- On the question of price sup- slow to notice. 920 shares, compared with 11-

Senate egislation, the 041,760 in the preceding week.

ure Committee voted to

for airlines and other In the main industrial group, hold unlimited hearings on order steel shares made their best the House-approved bill to re-users all over the world. Capital showing on Friday. They turned store rigid 90 per cent of parity Airlines is the biggest custom

er with an order for 60, follow- Chairman Sened by British European Airways Ellender expressed doubts, se to with 49, Trans Canada Airlines whether hearings could be com- with 25 and Air France withr pleted in time to get.

on 72.

י ן

will

Porr

Agriculture

season,

retive and higher in the last semmittee

on the basic crops.

hour of dealings. This demand for steels also helped olher de partments. Highly Optimistic forecasts for the steel business helped them.-United Press.

Engineering Employment

OVER 200 ORDERED Over 200 Viscounts

are.

next will

Singapore Rubber Market

G

C. Light (0) 10% 19.60 5000 ** 195

4000 2000

EVERETT

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- Cement

Rope

Dairy

15.20

Singapore, May 22.

.... 29.30 The market was steady with STORES. ETC. little inclination to trade. Future closings on Saturday were: No. 1 rubber per t. June 15-1

July 20-90 Asz unquoted No. 2, rubber per lb. June 997%-80% No. rubber per lb. June 88-8814 No. 4 rubor ber 1b. June 85%85% Spot rubber unbaled 9215-9231 Blanket crepa No. 1 pale crepe

98-99 United Press.

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Texile Corp. 5.63 Nanyang MISCELLANEOUS

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A NEW COMPANY?

the floor before adjournment Of these 55 have so far been this year.

delivered and it is interesting The scarcity of desirable cot to note that thanks largely to ton has been eased through the the Capital Airlines order for recent sales out of the Govern- Vise ment stacks on a bid basis for Viscounts one third of all the large twin and four engined unrestricted use. This week the aircraft delivered to the United From the word "GO".

sod 5,000 bales following States this year and CCC disposal of 05. 000 bales in the be Br

British preceding week.

Vickers and Bristol aircraft Stockholm, May 22.

The Census Bureau reported companies now have * clear Employment in the Swedish engineering industry, reckoned domestic consumption of all raw lead in

during April totalled in the development of

turboprop airliners. 696.345 running bales compared count is, of course, per week, showed a slight de- with 658,300 bales used in April service all over the world and cline, or by 0.14 per cent, in March. However,

12- last year-United Fress. the month period April 1954-March 1955 employment has advanced The Bank Of England

by the number of working hours cot.345

by 7.3 per cent.

.in

Statement

London, May 22.

The Vis

already in

the Britannia 100, powered by

four Bristol Proteus 111 turbo-

prop engines, will go into ser-

vice next year.

magazine said that the Soviet Union recently few over Mcscow

planes of such advanced model and so numer- ous that even the highest placed

All Viscounts now being pro- and best informed persons in

The March decline was erec

duced are fitted with the now the Pentagon had been

tirely accounted for by the prised.

The Bank of England state-improved Rolls-Royce Dart en- mechanical engineering work- The Editor of Aviation Week, shops and the foundries, while ment for the week ended May 18 gines and a longer range version of the Britannia is scheduled Robert Holz, called on President

increases

were registered for reads as follows:

for 1958, Eisenhower to tell the American shipyards, electrical engineering Nate in circulation

Public deposits. people what the display of So-workshops and the metal-work- Private deposits

ing industries. The share of Government securities export orders in total employ- Receipts

Other securities ment was 24 per cent, i.e. the Ratl same as for March 1954.

viet planes over Moscow meant for the future of the United

States-France-Presse,

A

Darwin, May 22,

rescue party, helped by

Australian aborigines, cleared U.S. RAW COTTON

1,000 feet of timber in the un- charted Kimberley country

ot

"EXPORTS TA

19,484,154 302,034,340

-United Presa.

The Bank Of France

: Statement

· Paris, May 22. The Bank of France statement for the week ended May 12,

will

NEW VERSION Later still between 1958 and 287,921,629)

948220 1950 Bristols will deliver the 421.105,740 new version of their Britannia

123 with four

Bristol BE5 turbo- prop engines and Vickers

with

DOW completely plane powered by fou be ready

ROUS Royce RB109 turboprop engines. No rivit for the Viscount is yet in sight though a Fokker plane with two Rolls-Royce New York, May 22.

Dart turboprop engines and a Raw cotton exports by reads as follows

ré-engined Conval with Siyo destination as reported in bales Total geld holding...

English Electric Eland turbo- The Auson came down on a by the New York Oton Ex- Total other curacies 12718,404,20very

201.281,561.496 prop engines are off the

due for de- river bank among some of Aus- change for the 1954-35, season Sight Balance

livery in 1957 tralia's

roughest country, when it

・m EPU an

136,831,798 459 And the Britannia will be un- out of fpel while carrying rital

to May 17 were as follows:

Advanced to CIT.

rivalled at least until 1957 when 294,001 Stabia. FuTIO.

120,000,000,000 Lockheed will be able to de fve passengers to remote, mis Continent

356,075 Bank nole in circula- sions. A ground rescue party Orient ***

·D65,074

tion, 2336,742,152,780 ver a turboprop plane. Later 295,105 Current accounts and

in 1958 Dougios aircraft will 3,023,235

Press

northwest Australia before

aircraft" which force on Friday could

ded take off

reached it at night with fuel Total for season

and land clearing tools-China Mail Spécial

Canada

Bame period last year

Francs

• deposita, MN 127,821,125, 331

2,936,772 Total bils discounted L121872310 start delivering their DGID but

United Pres

this Americani: aircraft & swill be

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From Articles of Association, Share Certificates to Letter Headings and the many other essential items, consult the Printing Department of the South China Morning Post, Ltd.

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