1958-05-07 — Page 9

THE CHINA MAIL,

WEDNESDAY, MAY 7, 1958.

RANSPORTATION

RUSSIANS WANT

LLOYD'S "100AI”

THE Iron

London, May 0.

Curtain

Russia which stopped, co- operating with the Register More thon 25 years ago, has asked if she cun come to working arrangement with 11.

CLYDEBANK SMILES

WITH RELIEF

TRADE

and COMMERCE

The New York

Stock Market

New York, May 6.

Automobile shares got into action in the late trad-

ing on the stock market to add new zest to a list ploughing into the high territory. Trading Increased all round Musante Chemical Co. with volume running around Montgomery Ward.. the three-million-share mark.

Motorola Inc. National Con National Dairy Prod. Hutional Lead ...

Clydebank, May 6. FAMILIES in this Clyde- countries are once more} L' side shipyard town- seeking the hall-mark of a birthplace of the Atlantic top-rating in Lloyd's Regis- gianta Queen Elizabeth and ter of Shipping.

Mary-smiled with Queen relief on learning that their Demand for the motors sent livelihood is unlikely to be Chrysler up more than a point. National Steel (6)

New York Central the postpone Ford

General Motors sel new high.

Ol Mathlevors.... affected by

Alrengthened.

Americano Elevatore ment of an order for a new Motors was active and steady. A

Cunarder.

Elsewhere, several other blue Tho Cunard Line had on- chips rose to carry the industrial nounced that because

"O of average to a new high for the fortunes" setback in Únancial

yeur, General Electric the

would company

Electric delay Wealinghouse building the

strong in the Inte trading, new nige million Intended for

up more than a point. sterling alip Atlantic service.

Internations Paper led

Oils strengthen- ed under the jood of Arge

It is believed that she works to build and export ships that would carry the symbol -100A1 at Lloyd's, the top-grade mack of quailly.

Mr Kenneth R. Pelly, the Register's chalinan, sold re- tently: "We have told them we will en-operate with them clazaitention under certain con-

Unions."

INSPECTIONS

Bush would probably have to open her steelworks for Intpre- flun by Lloyd's surveyors.

Poland too has rome back into the fold. Four Lloyd's surveyors hit again established there to pass products of 14 sleetworks and three shipyards.

But Lloyd's surveyors still ince dificulties in many parts of the world.

Mr Pelly says in his manual report: "On the one hand, w, a non-politlent body, meet with obstruction

politieal from matives, and on the other we And that few, if any, want 10 dispense with our services."

Lloyd's

1

the

EL

ぎゅ

301%

33

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

this

Business done on the Hang-

Stock kong

Exchange

ximately $705.000. Noon quota-

SECTION

ONLY RATIONING & CUTS THE TIN

IN IMPORTS

CAN SAVE FRANCE

Paris, May 6. Immediate rationing and cuts in Imports can alone save France from a slump in 1959, according to an expert report published here today.

en morning amounted to appro- Written by Finance Ministry officials, it was sub-

441%2

tions and the morning's Trans-

actions were:

041

434

Sharet Buyers Sellers

Suler

BANKS

317

HR Dank

715

785

East Anla

200

Pan American Airways tainting Pictures

1352

INSURANCES

Owen-Illinois Glass Oxford Paper Cu. Pacific Cian & Elec.

Parko Doyle Co. and

Penny J. C. Co. were | Penn, Balt Cu.

earh | Pinup Morris

Radiroad shares chugged ahead

The statement, coming of time when many economists fearretan bigher. an Impending world depression, brought back to Clydebankt gerlin memories of the slump of Vie nineteen thirties,

For a sanilor kind of 431- nouncement then halted work } for three years on the Queen Mary and brought long im- employment and near starvatious to the skilled craftsmen of this town. SETBACK

The

some

shipyard. John Brown and Company, is affected by the new Cunard setbach, Bul officials have made it clear that this time it will not mean the same hardship.

The firm bes orders in hund for

mount of a considerable unnoge. and postponement the Cunarder will make little er no difference to employment, Sir James McNeill, deputy now has 1,000 sur-chairman et John Browns, said veyors at work throughout the recently: "We have plenty of

work to keep us going," world, against a pre-war 350.

At home,

I is expected the yard will Lloyd's engineers now

sooner than start work

are helping not only in the planned na a 38,000-ton ship for

bullding

wer

British

of four new sturnic the South African mail service slations, but ure co-luf the operating in the planning of the first nuclear merchant ship.

AIRLINER GOES

DOOR-TO-DOOR

London, May 6.

ĮRITAIN'S Fairey Roto-

Commonwealth Shipping Company, Limited.

This vessel was to have bren built after the Curder, ́ but shipping circles believe that the switch-round can be convenient- ly achieved with little interrup-

lu Lion

Mail .output.-China Special.

HELICOPTER FOR

Bdyme, the world's first BRUSSELS FAIR

vertleid take-off airliner,

has fulfilled

dreams.

its

makers*

A

has successfully achieved tration from holleopter PIS conventional propeller fight, it was announced,

g

Peveter & Gamble Co. Pataburgh Plate Ginsat Publicker Industries

Lombard...

SHIPPING Waterbbat

30

vicent, 70) 11.50 11.70

1991 י: 2103

10:30

Wherlocks

DOCKS, ETC

મા

$12

K. Wharf

10

Dock .......

05 6.10 1.00005

102 W

14

722

34

13

7412

Republic Birel

43

Reynolds Metal Seam. Roebuck & Co. Shell Oil Co.... Saint Reg. Pader Sicfade Out

4012

2046

7.23%

are (311 Halla Corporation Rudle Corp. Prof.

Sucony Mobil

in the list half hour except Pittsburgh

West Virginia 22 which united its dividend.

Several other aircrafts run up more than a polat. Siupbuild-Solar Aircraft

had wire gains, South Puerto Rico Sugar ing istues

Southern Co. (The) Numerous specials, drugs, to-

Southern National Gos bares and met:ds improved.

Southern Railway (Com.J Or a total 1,171 Issies traded, Standard Bandz 583 were higher, 328 tower.

ork Stock Exchange New volume was 3,110,000 shares.

New Yor: Stock Exchangerfinst Drug Co. bond volume was $4,780,000.

American Slock Exchange Sunsha Min

Swell & Co. volume was 870,000 shares,

Texan Lo Dow-Jone

were:

Industriat

20 rails

ja trilles

$4

ent

40 bunda ....

Sukely Vai Camo. Studalaker-Thekant Corp.

closing averages Textion the.

The Water An O

LAND, ETC.

IK Hotel 10.00 10 25319.30

500 10.00!

K

COUNCIL'S DECISION

London, May 6."

The International Tin Coun

cil's decision to extend the 40 per cent restriction on exports until the end of September should life prices from the £730 per ton floor before long, tho Financial Times suld to- day.

This should relieve pressure

on the buffer stock manager to

mitted to the committee for public accounts, an influential advisory group of financial ex- perts, headed by the former Prime Minister, support the market at the level but, If this does not happen, M. Pierre Mendes France.

whole scheme could" be the heading for "a serious criais," it

NEW YORK RUBBER MARKET

New York, May 6.

160 Land.. 3223 3225 2203 – 1950 Rex rubber futures today closed 50 to 60 points lower with sales

traditional sald.

Fongoing the cautious language of offeiul re- ports the experts suld that France faced a clear choice; she must restrict consumption or Luifer unemployment.

"Brital has In this field riven

example," us an

write.

iley

The report shows that France

Ex-

On purely statistical ground rise in tin prices would seem long overdue but "a number of factors have been at special work.”

"Behind everything has been

that Hngering fear

the States recession, to-

exporta

ta

0

In at present Uving on foreign United loans. She insports too much, gether with exports too Iltile an finances from countries not members of the tap by drawing on her the agreement, could still bring the scheme into grove danger of 12 slender borrowed foreign

chalige reserves which are run. 1. What Is wanted now in

in demand which could nine at a rate of over 50 mil-rise lion dollars a month.

push prices up,

sharply, Tho United States will piny a major part here but a reluxation In economic Kingdom the United in polley could also be a boon to die buffer stock manager" the Financial Times sald.--United Press,

1990 90 G. XD 17.00 17.90 2339 ** 17 on

203 11.00

lower London-Shgapore market M27 : ก The discouragingly 2.500 8.00 domestic consumer demand.

20) 27

słow

in

contrast with signs alackening production and employment In

of un-

most of world, French dustrial output is running at a rate of nine per cent above last year.

1,000

Humphreys

15A)

1.000 15.201

x2.009

1330

20-34

Heully RUBBER Amalk.

1.525

1.39

1723 1375 20,053

contracts,

195

25,000 +0 1.33

24.53

5314

Tra

1.20

July

2139

Standard Oil of Cali Skndard Out Ind. Sundard Oil of NJ, Sleep Rock (Tornio Exge.)

Bad

A. Tuwal

1.85

Kept

2683

423xd

UTO.ITIES

New.

2075

331

Tram

24.20 240 4,920 24.0

Jan.

NO 1.40

Mar.

western HOND

30!

124

Bior Ferry, Yatimati

111

113

Mar

422

Prices weakened with

2170

tie

Electric

1

bul

Telephone 2340 23.03 2014 INDUSTRIALS

100

300

23.5 29.50 !

Cement

toli

22:30 STORES, ETC. 492. Dalry ......

14.20 10.30

1,000 20 1999 2500 24 1933

31

270

779 Watson

10,50 10 80

301

L. Crow,

33

COTTONS

81x

Textle

15

Nanyung

591

1024

Vibro

11!

INVESTMENTS

| West Va. Pulp & Paper

Woolworth

3521

... 4.35

14.40

523

4421

Allied

4.43

--United Preis, Surzaln

1.70

103.67 Tune Ine

113.70 Twentieth Century Fox Firm

17.58 Union Carbide ......

180. Unten Ou or

Cal.

90.11 Union Pacific Railway

Cundit, falne price index 155.30 15alter Airera

Closing Prices

Alden Inc. Aey.

Allied Mijis ine.

Al ChemİKİN

Allis Chalmers Am. Brake Span American Airluc American Cable &

torn.

American Byaaanud Co. Amer. Plin. Power

Am. G. & Electri Am. Mach. & Fidry. Aineries Metal Amerleon Smelling Am. Bugar Nel. Americas Tal & TH American Tab, "B" Anacrida Copper Annco Steel

Armour ........ Atias Cons. Mining Baldwins-3 dna-Hami. Baltimore & Ohio Benedicto) Finance_

Bendix Aviation Corp. Benguet Cons. Bethlehem Steel Being Airplane WESTLAND WID. Borden The Co

Burroughs Add Machin GEON helicopter, of the Campbell Soup Co. Canadian Pacifle R. same type as used by Hong-cas 1), 11 Cv.

Force and Cat. Tractor kung's Pulice

Celanese CuID. manned by RAF personnel, has been put into service by Now the Rotodyne is ready to the Belgian airline, Sabena, bring inter-clly hellcopter Bying to reality. Sample; Central to supplement its network of London to the heart of Parls in helicopter routes between 100 minutes, instead of today's | the European capitals four and a lialf hours.

during the period of the White Brussels Exhibition. Taking

from Walthen airfield in Berkshire,

off

the plane ellubed to 4,000ft, a place all-purpose helicopter

a helicopter,

UP, DOWN

... Finanetat Corn, Cluett Peabody Coleste-Paulive Co Colombian Carven Commercial Credit Commonwealth Elec.. convlidated Edison Continental Ol) at Det. Crown Zellerbach Cuban Anier, Sugar Diamond Alkali Diamond Match Co. Diniglas Aircraft Dow Chemicals Dupont de Nenoum Fastman Kudak

Chrysler Motors

The Widgeon, which is a five-

Alvis Leonides powered by the engine, will be used mainly for

and special shal-seeing tours charter Bghts

will bo and

airline Lon- operating under ditions for the first time.

Thes the pilaf, Squadron Leader Ron Gellatly, aged 3. with him 32-year-old co-pilot John Morton, shut down the LIVERY Dower to the rotor and trans- ferred to the forward-facing propellers.

The 185-mile-an-hour

48.

Painted in

Sabena's familiar livery. It was flown from Yeovil. England, direct to Brussels Air-

and was port

located al the

sester airliner flow forward in Exhibition Heliport for the

atroight,

steady epening

ceremony by King

turbo-prop Baudouin.

"freo-

the

Jevel and Alght on its wo cagines.

The rotor wheeled."

For landing, the procedure was reversed,

Paw National_Gai Family Finzane Cur Firestone TSTE & Hubber Ford Moler General Electric General Food General Motors Sơn Du U

Gelly Oll Gilsden Co. Goodrich (.) Co. Goodyear Tyre Heyden Newport Corp.

Mining Co. and Inland Steel Co... Interhemical Cor ini Jiutainer Machlite Int'l livevisy

International NikeT

talcinational Paper Int'l Tel Tel Jolth-Manville Co.

Elsewhere Oversous Widgeon is in service with the Iloyal Jordanian Air Force, the Brazilian Navy and the Hong-Konnecol! Copper kang, Security Forces.

In Japan the Rotodyne for nhead of any other hellcopter country's

This puts

it is used largest

by that electricity cr vertical take-off plane. In undertaking for power line in- and fact, one American helicopter spection and maintenance,

Persian Gulf by the alciipe chief has said Britain has in the

Company six-year lead with-

Petrolcum the British

oll- Limited to supply their Notodyne,

shore drilling rig.

a'

BABENA

The Westland Widgeon.

United Gas Corp.

1.5. Foll ""

U.S. Gypsum

U.8. Ling Co.

11.3. Rubber

$20 U.S. Smelting

3. Strel

Warner Bros,

244 Westinghouse Electric

02

Western Union Tel. Co.

BLANKET

The experts reject a "blanket Shipment bustness was negt!-polley of deflation, applied in- to ihe whole gible. Buyers here, were mostly | dfserimately uninterested. Unacespled offer economy.

ings out of Thailand inclined Their solution is selective, three sheets at 225% gents; oll | Immediately effcetlye: cuts ju 200 7 189 cost and freight, May/July | consumption provided by r 500 16.40

Locally Spot No. 1 the short list of goods 2010.50 lument,

1980 Thus was quoted at 241⁄2 cents, with a high port content. 1050 15.70 1005 » 19.39 ) nominal.

4.625 4.573

MISCELLANEOUS

RMEJA TAP

The New York Cotton Market.

New York, May 6.

Cotton futures today opened lower and remained on the defensive for the rest of the session. Closing around the day's lowest levels the list was off 14 to up 9 points. Opening prices were off 2 to 13 points, New Orleans closed off 17 points.

in-

SINGAPORE

from

AL the opening the market was almost unchanged yesterday night but same sellers of May LRSS predominating efiderice of operators was un settled and, buyers withdrew,

LIBS fell Premium on May from 1% cents this morning to

cent this evening. Fubarés: No. rubber orc ib, May 771-72

June m1.11%%% No. 2 Fuliber ber b. May 8-63

ກ່ໆມາ GO-01% 7144-7212

70-73-

1+

No. 4 9pot rubber unbaled.... "amiket creat

Na. 1 vole crepe......

LONDON

The rubber market was eater with spot quoted at 211⁄2 pence rer b. Prices: No 1 its spot Settement house ferrat

Jume

Juty/Sept.

2011-2114

211-2152 21-21 214-27

Oct/Dec.

Jan (Me" April/June

General markets, cif basin, perta:

MAY

June

July

212-219 21.21

unquoted

Estate crepe thin May thick May AMSTERDAM

tu chill buying Clearing and warmer weather also netei over the growing areas put the intercsi, Selfers thought the crop pieture In a more Invour- | acreage next year might be in-

crensed while able light and attracted

the support creased selling

basis might be lowered.

in the May Evening-up

The rubber market was quist. delivery followed the issuance

Open Prices closed in guilders per of six delivery notices.

interest today totailed kilogram, cl May is followe! Moy

The certificated 20,600 bales. alk amounteti la 21,050 bales, The government weekly crop Cotton Summary was mixed, made

A renewed slow-down in the demand for textiles, and unver tainties relating to vongressional action of new form legislation,

LONDON STOCK

MARKET

London, May 6.

Lood growth in Texas scetions and In the' for south- west where planting is virtually completed.

California reported planting well along with germination good and fow Insout or disease But eastern and

seclions continued

by too much

A bad day, both at home and problems.

central belt abroad. By the time the to be hampered stock market had cloted, | rain and cox weather.

The Liverpool market closed sterling had lost 7/32- evidence that foreigners off 6 to 10 English poluis and didn't like the bus strike under New York futures. —whila the market thera Month

500 lo dia American points

July

Government De

Kanan C. Power & unt

Llaget Meyers Tob. Co. Lockheed Aircraft

Volume Open Miterest

10BW Incorp......

1816

Lone Star Cement Co.

Lowenalem & Sone...

was a heavy exodus out v of British

21:00

29,000

€900

1204,000

1.200

241,700

132

McDonnell Aircraft (Am.

Stock Exge.)

stacks which lowered tar

T200

154,800

14,400

133,500

10,000

374,300

hiesabi Iron Corp. Minerata Mining Menton Development

9,300

100,000

D000

2211

July

05 300

$7,900 1,341,300 baler

NEW YORK Prices of cotton futures closed teday as follows:

Spot: 39.00; May: 35.95: Justy: Mars 32: ON: 1: 37.40 10,1 Mos Oct: 35.00.

Treasury 3 per conts by Stay 10/-, War Loan and 4 per Del cont Consols by 7/6 and tal othors by as much as 5/-. Nearly all closed at the day's lowest level, Industrialy were nearly all down by Ed or a schilting with the engineering and electrical issues down between 1 and 3

NEW ORLEANS shillings. Chain stores sow!

Prices of cotton futures closed steady selling though some of today as follows: them steadied towards the close Sput: 54: May: 30.00; Juty: 3734; on bargain hunting.

Oct: T147: Dee: 31.45 Mat: 30.07 But Ford Motors, Rolls Royce Mar 31 Jul: 3651; Oet: 35 and Unilever, all down at least a shilling, showed plenty Of

pressure.

Wero

erratic.

LIVERPOOL

Cotton future closings, in perce per lb. were as follows:

American

Contract: May/June:

No. I tuber No. 2 No. Wit

non. 207 POIN

2.4 with. tiated Pres.

New York Sugar Market

These goods are not ilated by the experts but they mention In their report wine, petrol and 1cxle roads..

"Without new foreign loans," "France cat t they conclude, best hope In 1950 for & stond- of consumption stil in levels and a very light increase in production. But it may be diff- cult to achieve even this modest objective.”—China Mail Special,

Rice Price

Expected

To Rise

Singapore, May 7.

The Straits Times said today the price of rice in Singapore could be expected lo rice by $(M)1.00 a plcul in the next Lyn months.

Production Of Sugar

Havana, May 6.

The Cuban Sugar Stabilisa- tion Institute announced ☐ 100,000-ton boost in this year's

production figure as an added rezervo for export 'to the United Statos.

The announcement said the boosi was aimed to assure a full supply for the U.S. market Gifs year to view of deficits among other producing areas, as well as to maintain a plentiful reserve for the world market.

The100,000 on figure—_—_NO- the incidentally matches estimated amount ог sugar destroyed by Cuban rebels in

efforts their

to destroy this year's erop.-United Press.

Singapore Stocks

Brokers

Singapore, May 7.

today quoted the

The Times, quoting "a lead- Singapore rico importer" sald militantial purchases of That rice by the Indonesian following stock prices; government had caused un In- Cirant by £2 to £0 ton

Batu Lintang Hubber

Opening

Co.

Borneo... $1,37

47/00

27/

F.O.B. of white 100 per cent Lid.

231100) whole grain rice in Tholland,

Byndicato The poper said suppiles from : Consolidated Tha Smellers Chinboula and South Vietnam Framer & leave Lid. Ont.

Ord, And stopped. as both govern Fraser Neave 7% cum. menis stopped issuing export { __pret med AMANA Leaners for rice last month Ganumons (Malayal Limited $2.00"

Shanghai Reuter.

London Foreign Exchange

London, May 6,

Closing rates were:

Brusata

Frankfurt

Oxle Perh

Now York, May 6. World No. 4 sugar futuras New Yor

today closed unchanged Amsterdant to one point lower with Copentugen sales of 146 contracts. Demestic No. sugar futures Stockhokn closed 2 to 3 pointer higher with Vienna Zurich rales of 129 contrnets.

world Although

Fugar future ruled quiet, deaters T- per.ed a broader constoner in- terest in the spot mark.

П

Ceylon reportedly bought cargo of Formosa restued sugar, May/June shipment while Bzyp! bought 20,000 tons of Brazilian raws through operators on Л barter basis.

Hongkong

Banking Corp. Hongkong in Ltd. Kumar Ltd. ..... Kunis Lamper Tin

Lunar Rübber Estates Lid, Matayan Brewerien New Serendah Rubber

Lid

Petaling Tin Lid..

Itaffien Hotel,

angspore Cold Storage" Birate Trading.

Steamship

United

2.612/16-241 0/10 7.723/16-172 5/15 | Wesme, 13708.

• oxrights. Melt Special.

10.5071-10.50 139.226-130,37%

20.01-20.0815

117845-217034 14,4833-35,48% 12.53-72.903

12 2374-12,223 Obra unchanged,~~Walted “Press.

New York Foreign Exchange

New York, May 6. Closing rates werez Comedy N*

1.01 1/2 England villejał

2.81 5/10 70-days

Finland, following a pur Amitalia chage of 10,000 tons of Brazilian New Zealand .. refined for Juna shipment, was South Africa

Germany reported negotiating for 6,00 tons of Polish refined for July Indianai.

Pakistan shipment.

Casablanca will hold a ten-: der on May 7 for 42,000 tons of

2,25 1/16

2.80 5/17

221 11/10

.1893

2}]

2112

Olbing unchanged.—United Press.

raws for May/Sept, shipment London Metal Olis

again

July/Aug 25.95: Oct/Nov: and Korea in expected to buy a Royal Dutch finally closed · un- 25.001 Dec/žan:. 20.151 Mar/Apr: cargo of raws

13, un May changed and Shell Transport | 20:00: May/June: 20.60.

Ceylon, on May 27, will hold u

with a gain of Od but the others Mixed Contract: May/June: 25.00; tender for 10,000 tons of rows *-including the popular Cano-July/Aug: 20.10; Dot/Novi 20.00 Dec/Jan: 20.00: Mar/Apr: 21.20 May/June: 27.40.

dian Eagle fell between -wild 3'shillings.

There

1

virtually no

SAO PAULO Intorast in foreign bonds. The Colton future closing prices

were unavailable today. Diwen. Loan Non-Resented - Toso Materling it the other Oor- In the

the United States, mann, both; adsenfadʻand non-} average' prico of one-Inch besected, wark unchangeit. cotton at 14 designated spot

a. Jugalinis were completely i markets was not, installable, Idle. Gold sharon had ariather Total sale at these markets poor-day but;"coppieR | WOŻO were also not available.. -- firm--United Press.

United Press.

Prices

London, May 6. Prices of molats closed today

$2.43

24 3

$120

#1 62%

$1.40

$33er

$1.879,

30.00

Ord, Tedf. I exall-China

New York Metal Futures

New York, May 6.

today in cents per lb, as follows:

Lead May

Prices of metal futures closed

July

July Zine May

Couper May

Fin

July

10,829).

10.0.31

6255

8.STI

23.42%

Ualled F.

Exchange Rates

Business was done in the Incal Unofficial oxchange · market tila morning at the following rat

for June shipment and 30,000 tons for June/August shipment in sterling per long ton as fol-Biam licel (per 100)

לכל

22 Agreed Merchant Rates

lows: Contract. No. # (wortd) July 3.41; Bepi: 3.42; Oct: 8.30: Tin spat Mar 3.30: May: 37: July: 0.40

Copper spot Opal-feonts pag tb, fob Cubs): 20.

Open Interesti 0,300 pastracia atronu

U.S. doller (per (1) Sterling noted (per £1) Australias notas (per 1) ... 19.40 Indonesian rupiah (per 100)

0.20 221.30 Singapore (Btrait)

149

15.10

Buyers Seilery

7301

month

170-

37015

Contract No. 8 (domesilo) July: 6.70; Sopi: 41: Nov: 9.00; spot-toents per ib, elf H2 ex-duty): Zino at hald

Lead Ist half

·May

72%

0.79.

· Open - interest: - 1,173 nontNAERU.— Valled Pty.

May

Swlis France, Maximub

Selling, 754-

Belgian

Selling, 654,

France, Maximum

West Gebak Deutschemarks,

| BEARINLAR BRAIDS, 71-19/30,