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Page
THE CHINA MAIE, THURSDAY, JUNE 12, 1958.
RAILROADS NEARLY REACH 1958 HIGH
STREET
ON WALL TRANSPORTATION
NEW ERA FOR AIR CARGO ACTIVITIES WITH JET FLEETS
THE next 12 months will see the beginning of a
new era in the development of BOAC's cargo' activities. With new fleets of modern jet airliners and much greater freight capacity a new policy is to be implemented to expand the Corporation's cargo capabilities.
use,
0121
An order has also levn placed, The past decade has seen aj tremendous expansion in the n for 15 Boeing 707 Jeillnere for transport industry generally, but ¦ this growth is nnly an indication of what is yet to come. The first signs of this expansing are ses in BOAC's new plan for enrgo,
New York, June 11. Railroad issues featured an irregularly higher stock market today and came within touching distance of their 1958 high.
HONGKONG
STOCK EXCHANGE
Our Own Correspondent Busines dime on the Hong
Exchange this kong Stock morning! amounted 10 proximately $017,000. Noon quotations and the morning's
initially,
Atlantic
T services, beginning 1960. Corporation also has on order a feet of 35 Vickers VC.10 r-nsactions were:
hers for use on its routes from about the middle 1960s onwards.
Simran which will have BA KS
Ik tank INSURANCES Unn fombard
four jet engines grouped near the tii on its "double bubble" frelage, will have large capacity freight holds on its lower deck.
To direct, its cargo develop tment the Corporation has ap-This airliner, pointed 44-year-old Mr W. 13. Koster who has been concerned with it cargo and Intricacies since 1930 when he started a career in the air ship. ping and forwarding world. AVAILABLE
The increased capacity which
ESCALATORS IN
will be available in BOAC nir- 4 NEW LINERS
liners means that a manufacturer
car Integrate his distribution
plans with guaranteed reliabilityREN the Union Castle liner and regularity of services, The W
Windsor Castle,
effect of this high speed die- under construction. at Cammell tribution will be felt from the airds, Birkenhead, cornes into Luctory floor to the airport, and service, passenger, will be able
on to the consumer.
The air freight shipper has many facilities at his disposti, including * boulting service which will reserve
space for freight in a particular aircraft in the same way na palenger makes a booking.
pay greater
future will
attention
SHIPPING Whenicek DOCKS, ETC Dock Plovblent LAND, ETC.
Is tutel
Halen
X
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK Closing rates were:
Canada
England onticia
30-days 90+34
New Zealand ....
Railroads registered gains running to a point in South Africa
such issues as New York Central, Chespeake
& Ohio, and Rock Island,
Oila recorded
even
gale than the carriers,
wider
Thrin
Cluett Prabody
ran to more than two points in
A sizable group.
Coppers late
In the day were up fractions to more than a point after having shown advances ranging more than two points.
Tobaccoes
to
Several specia! isues moved higher. Steels generally, ensed. So did autor.
Chemicals show
ex little change late in the day. Tohnevoca balanced off small gainy and losses.
Of a tola! 1,172 issues traced, 511 were higher, 400 lower, with 82 setting new highs and
at new lows.
New York Stock Exchange Volume was 2,570,000 shares,
New York Stock Exchange bond volume was $5,380,000.
American Stock volume was 820,000 shares.
Tuyers Sellers
150
71 20
12 40
1.25 1000 1 0.25 670
41 41.50
12.0
241.55
2014150
300 12.24
21 10
20
20.00
21
3000
21
Land Humphreya
13.30 13.76
0933.76
Duw-Jones
15.30 13.50
were:
1.6/
13 300
10.3%
30 industrinis
Amalg
1.40
145 60X 1.422
20 rails...
Tru
1 1.33
A. Trwat
£125
Sungal GTILITIES From
1.640
Kratty
RUNDER
L
to gu by exeulator from their Star Ferry state rooms to public roon: tran Yaumall the
Lig first tlane. Moving stair- says are being led In the Electric tourist clo.
They are being made by Hal and Co., of Dartford, Kent, whe specialise in linee kitchen equlp- ment and lifts. They
have
Tel.
INDUSTRIALS
Cearen
20.18 26.30 VIDA ... 20 YA
700 17.50
23 utilities
05 stexks...
4 be
Exchange
Chryster Motors Calgate-Parbon Co.
Coltblan
Cornercial Credit
Commonwealth are Controlldaled Edlion Ctinental Out of Del. Crown Zelicibech
ban Amer. Sugar Diamond Alkali Diamond Match C Douglas Arerait IX Chendeala Dupont de Neman Eastern Akune Futian Kuda
Par National Can Family Finance Corp Firestone Fire & Italiber Ford Motor .....
General Dynamics General Ecetrie General Foods
Generi Motom
Gen. Pat. U Gen. Tye & Rubber
Getty Ou
Glidden Co
Goodrich F.; On. Codeur Tyre Gruntman Airenalt Gut Oil
leyden Newport Cup Homestake Numag Co Ingersoll-Rand ........ inland Steel Co., laterchemical Corp. Int Business Machines Int'l Harvester
International Nickel
cloging averages International Paper
Conti futitre price index..
Closing Prices
1520 + 11.09 | Anten ter. Any
500 - 31 50
Allie Chemieuin 100 20.30 Allied Mis Ine.
500 27 413 20042750
In Tal & Tel John-Manville Co
407.93 KASDr Industry
116.00 Kansas C. Power & Light
70.00 Kennecott Copgr..... 102 02 Leggett Meyors Tol. Ca.
00.78 Lockheed Aerati 150.15 Loews Incorp......
$18
AG
Lane Star Orine Co Lowenstein & Sona Kaes, Inv. Trus Co. McDermott J. Hay McDonne Aircraft
Stock Expe)_
151 | Mesalat Iron Corp.
Minnesota Mintaut Mision Development Monsanto Chemical Co.
1000 20.11
I
17.50 17.09
20.20
2729 27.40
All Chalmers...
Am. Brake Shoe
American Airline
20 27 40)
2750
American Cyanamki Co.
American Cable & Radio Corp.
Amer, & Foren
43
Pl
Stouts, Fr220 2200
Watson
Craw COPIONS
Textile
17.20-
1740 1740 B7 E 11
1Th 11 10
413
4.70
Nanyang
7.00
INVESTMENTS,
5,65 Su
All
450 4.125
Anty Caaning THITE ›
A service to which BOAC will | modified proposed Pealetons,
in the bearing in stud the safety Dairy bc lis packing factor when a ship is moving in arrangements. As well as the heavy sea. present staff, who re-pack goeds after they have been examined | INSTALLING by Customs, DOAC will have
to advise shippets ou experts the best methods of packing all kinds of freight. As weight and space are vital factors in the
ment in
Yangtare
Diva noc (Singa-
Exchange Rates
Am. Gas & Electric
An. Home Prod..
Ani. Mach. dry.
American Metal
American Emeiting Am. Suzar Ref American Tel & Tei American Tob. "B" Ansenda Copper Armco Steet
Amou
Allas Cone. Mining
Baldwina-Lyra-114079.
Baltimore 13
Beneficial Finance
Bendix Aviation Carp.
Benguet Conn
Detichem Steel
Boeing Alpine Surden
Burrouts Add Machine
י 10
Montgomery
Motorola Inc.
Ward
National cul co
National Couh Bog. "A"
National Dalry Pd.
National Lead
New York Central
Norfolk Western y
Am
North-west Airlines (Cam.)
Owen-Illinois Cla
Uruguay
Other unchanged,
LONDON
Closing rates, were:
Amatern
Copenhagen
New York Montrant
4516
407. ↑ žirusse LA
All
37%
Frankfurt
55
MILL
2750
Purla
Stockholm
52
Zuricht
50%
24% xd
Data
57%
54. d
502%
31
ر القابل
Mar/Apr. May/June
Mixed Contract
July/Aug
OcÚNov.
Dec/Jan.
Mar/Apr.
May/June
21.07
All prices were unquoted to-
day in Sao Paulo.
In the United States, the 13-15/10 average price of one-lach cotton at 14 designated spot markets was 34.88 conte,
2017
2,00
2.01-316-2017
2.76-0/16-10-14/15
IDLEY-IN CAU
13040-1.30046
105494-1034A
11.70-11.70
1178}{-11703;
164545-14.45%. 12.20-12.227
Others unchanged-U.P..
COTTON
NEW YORK
Prices of eniten futures closed
NEW ORLEANS
Total sales, were 6,807 bales. -U. P. 1.
RUBBER
Rex
NEW YORK
futures today rubber closed unchanged to nine points higher with sales of 14 contracts. Closing prices:
Juty: 25.90; Sept: 25.00; Nov: 23.40: Jan: 25,73: Mar: 23.30 May: 25.70; Jdy: 26.75.
AMSTERDAM
The rubber market was dull Prieta closed today in guilders
kilogram, <lt
DAT
No. 1 rubber
General markets, cif basis, ports: June, July and Aug. ** #134-23 Estate crepe this July 24%
thick July ...
V.P.I.
SUGAR
New York, June 11. World No. 4 sugar futures closed three points lower to one paint higher with sales of 308 contracts.
Domestle No. 0 sugar futures closed unchanged to one point higher with sales of seven con- truct
tracts.
Contract No. 4 (world)
July: 330; Sept: 742 Oct: 342; Mar: 3.39. May: 3.36. July: 1 Sept: 33 Spot-toenta per it, fub Cuba): 241; Open interest: 7,771 cun- Contract No. 4 (domextio} July: 6.70; Sept: 1.20; Nov: 1.00: Mar: 3.56 Spot-cents per lb, et NY Ex-duty): 5.73 Open Interest. 2.110 controcis-V. P.
METALS
NEW YORK Prices of metal futures closed
in cents
The market opened slightly today higher on better.
June
J3
follows:
2.32 hom
today as follows:
Nu. 2 rubber
2.07
59
Siput
30.2011
No, rubber
1.04
July
20.15
No. 1 crape
2.50
25322
36.07
43
SINGAPORE
Dee.
34.00
per lb.
Mar.
J.11.
May
37.05
July
36.31
Oct.
35.49
Dee.
overseas ad follows: vices but it cased on profit takend ing and some upcountry liquida- | zını
on. Futures:
July
10.800
Sept.
10,700
July
B.900
Sept.
9.02b
| No. 1 rubber per ib. June
*7433-73
Copper July
25.601
July
74-7414
Sept.
24,08
Prices of cotton futures closed
No. 2 rubber per Ib. Juñe
July
04.002
today as follows:
No, 3
gept.
03.04
SP L
35.10
No.4
0115-0256
July
30.11
Spot rubber unhaled
LONDON
Oct
30.
Manket grepa
Pricca
of metal closed today
Dec.
20.07
782
37.10
No. 1 pale crece 3-34
LONDON
AS
May
31,00
follows:
320
July
20.20
Buyers
Sellers
be.
31.83
Tin spot
73015
น
3-pionth
7342
733
450
23-2316
Copper spot
202
70415
Cotton
3-month
100%
17
American Contract
2213-4216 Load lat half June 2416-27
20413
1237
July/Aux.
Sept. 2716-2212 | Zine half June
Sapt 2216-239
0412
-U. P. 1.
יפט
よった
National Steel Corp.
-15
20
North Amer. Aviation
73
Olin Mathieson
Ons Elevator
402
13
Oxford Payer Co.
Pacific in & Elter
110
Paa American Airway
30
Parent Pictures
39
Parke Davis Co
781
Penny J. C. L'a
I
Punn Salt Cu
BU
4129
Philip Morris
Co.
6
Procter & Gamite Cu
Pittsburgh Plate Glera
1143
the
Busness was don? the Beal Trebal exchange Tourket morning at the Following rater: US. dotar (per là................ Sterling notes (per £11.... Australing notes (per Li Jaduatzuan rupiah (per 1005 Stam tad ter Looj Singapore (Stralis)
Publeker Industries
thin
Calif. Packing Corp.
403
Campbell Soup Co,
41%
Radio Corporation
Canadian Pacile B.
14.06
Case 13 Co.
10%
2 Metal
12.50
Cat. Tractor
#45
Celanine Corp
22.00
C. 1. T. Mangelal Corp.
10
Chase Manhat. Bank
The same company is install- ing escalators for waiters and others of the, catering depart- the three new Royal Mail passenger-cargo liners agsment of air freight charges, beag built in Harland Stadi packing can have, a considerable
Walit's Belfast yard. Thes bearing on a manufacturer's dis-
Pun from the tribution costs. On the other exculators will
kitchen, which, contrary 10 hand, the cargo must be
usual practice,
are howA adequately protected
dining saloo
ENDEAVOURS
In their endeavonta le offer better service work-wide cargo carriers are constantly into ing methods to "streamline" the handling of cargo and to reducy. formalities. 1 x UHBECessBry now cominonplace for cargo lo
Kira Qup even evealtors, m.ny
to have such
the lagslaps the
America liter. Nier dom. 38,807 ton. in
Holland-
A4- vier still
on the Atlarte. 4 $111 Texture of The Nieuwe Auste;dand's system
"magie
CH pleet me ampulse, which opes and cinspe
be directly transferred from oneguts at top and bottom of the aircraft to another without any escalators. intermediate delay. Simplifier-
on of procedure with Customs
and documentation has a large
part to play in the Corporation's DIRECT CONNECTION
new policy for air cargo.
BOAC's extensive plans are
backed by the advent in the ROMBAY'S
Scindia
Stan
next few yours of large, high Navigation Co, Ltd, in under cupacity Jel airliners to the Car- to improve its cargo service, las direct connections poration's feets. These aircraft established
from the main ports of India at high speeds and all of thein and Pakistan to Hamburg and
will fly the world wide routes
alher ports un the Europewa
will have spacious cargo holds. continent.
The
Corporation hus placed
orders for 19 de Havilland According to the company's
SALES OF RAMBLERS
AND THUNDERBIRDS
REACH NEW HIGHS
Detroit, June 11.
Sales of Ramblers and four-passenger
Iepublic Steel
Searn. Hoebuck & Co.
Savli Olt Co
Saint Reg Poper
Sinclair
Sacony Mebt Oll
Solar Alteraft...
South Puerto Rico Sugar Southern Co. (The)
Southern National Gar Southern Railway Kan.) Standard Brands
Standart
Standard Oil of
Ind
Stordary Uni of N.J. Sleep Huck (Toronto Exas.
Sterling Drug Co.
Stokley-Von Camp.
Studebaker-Packard Corp.
Sunshine Muning
Swift & Co.
Texas Co.
النوم
ד
730
LIVERPOOL
future closings, in
pence per lb. were as folljus:
The rubber market was idle with spot quoted at lower at 32-1/16 pence. Prices: No. 1 Rss spot....
Slement house terra:
In storting per long ton
Oct/Nov
Dec/Jan.
CHATTER
ON WALL
STREET
25.12
25.77
25.12
New York, June 11.
Recent performance of the stock market emphasises the great flow of capital seeking investment In stock equities with tem- İ porary setbacks even of minor nature bringing in
July
Aur.
Sept July/Sept. Oct./Dec.
QUESTIONS ON PAYMENTS
IN HONGKONG
Singapore, June 11.
The Financial Secretary, Mr T. M. Hart, said today in the Legislative Assembly that he was not aware that, Singapore firms importing Ameri- can goods through Hongkong arranged with Singapore banks to pay American dollars in Hongkong.
w
Mr Hart said such a practico He said he did not agree, as supporting bida, according was not sanctioned by the Con- Mr Jumaphoy suggested, that trading Singapore merchanta trolier of Foreign Exchange.
Mr Hart was answering ques-with indonesia' and Hongkong tlons by an Assemblyman, Mr were unable to avoid breaking certain foreign exchange control R. Juinaphoy.
regulations.
E. F. Hutton & Co, notes thal
392
그
to Van Alstyne. Noel & Co.
50%
50%
201
3011
41
tat:
19
the thing that would contri- bute the most toward o dynamic fourth quarter is the 1960 successful sale of the automobiles,
W. E. Hutton & Co. notes that
the big
small cars are now accounting for about 10 per cent of muritet-sunething the three can's ignora indefinitely,"
RELATIVELY
Edmund W. Tabell of Waitson & Co. locks for a relatively the narrow trading area for
next year or two with neither
Textron Ine
The Water ABRIL, DIL
Time Inc.
Tel-Cont. Warrants
Twentieth Century Fox Fim
301%
Union Carbide
Union Pate Railway
or cat,
625
which individual sues
70%
Thunderbirds boomed to record highs in United Aircraft May, it was disclosed yesterday.
1
1,200
Uruited Caw Corp US. Foll"
Gypsum.
US. Life Co.
5. Rubber U.S. Setting
and us, steel.
up this. Steel 7 P.C. PF 750 Warner Bros
Comet 4 airliners. These 500 Hamburg ngents, Scindia vessels American Motors reported, will re un additional mph aircraft will go into service will no longer call on parle in that dealers sales of Ramblers workers at its Kenosha on BOAC's routes to Africa. Great Britain, thus considerably shot up to 20,349 units from the Milwaukee plants to step india, the Far East und Australia | reducing salling time. Vessels previous record of 15,410 set in Rambler production from
the Corporation is also running on the new route will April. American Motors said it to 335 units a day. Of the add-Wilgheas Air Brake est workers, 750 will comprise a Western Union Tel, Co. studying the possiblity of using load at Calcutta, Madras, Bom- them on the North Atlantic. bay, and Karachi.
new second shift at the Mil West Va, Pulp & Paper waukee body plant.
and
Vertical Take-Off Airliner
The world's first vertical take-off airliner, the Fairey Rotodyne, in flight during a demonstration at White Waltham near Maidenhead, Berkshire, recently. The Rotodyne takes off vertically in the same manner as a helicopter,
but once at sufficient height, it flow forward as a fixed-wing airliner. It can' acgommodatu. 48 passengers or live tons of freight.-Reuterphoto.
Ford Motor Company an- nounced that more tran 1,300 four-pussenger Thunderbirds
Westinghouse retrie
Woolworth
043%
CHICAGO GRAIN MARKET
in reply to another question from Mr Jumaphoy, Mr Hart said Singapore would not exempt from foreign exchange control regulations, payments by local firms which were mude abroad.
the and in which Colony "had no interests."
Mr Hort said the Government considered it essential that the Chicago, June 11.
provisions in cxisting
the Grain futures prices closed foreign exchange control or steady to strong on the dinance should be retained,
He said permission for mak- Chicago Board of Trade
ing such payments was readily today.
of the Controller given if Wheat prices recovered due Foreign Exchange was satisfied wh there would be no direct or in- were disappointed direct loss of foreign exchange the difference on the to the Colony-Reuter.
a broad upswag nor u Grand decine but rather "amarket into buying by local shorts
seekpparently
their true level in line with over earnings, dividends and future market in regards to the large estimate -скор government published on Tuesday, Alay the
prospects."
Heynolds
& Co. belleves five-day outlook for rain in the cement issues may be dissouthwest had some effect ord 20% counung anticipated
27
earnings trading was light.
but favoury retention or act-
soybeans the market held dillonal purchases of companies early advances but interest was with strong fundamental plight.
$34 ons, prefers General Portland, What No. 2, red
Ideal, and Lone Star.
were sold during May, the high- Steel Production had us a bountiful wheat crop
est totul aince the now luxury
car was introduced in February.
Almost Twice
Down In UK
Jast
London, June 11. Orders for the now Thunder-
Falling export, demand and bird from February through reduced home consumption cut May. amounted to almost twice Britain's steel production the number of two-passenger mouth by seven per cent, the Thunderbirds sold during the Iron and Steel Board announced entire year of 1057. Thus far today. Ford. dealer have received more than 20,000 orders for the 1950 model.
Hornblower & Weeks sees an encouraging rive in car loading
moved to market. Santa Fe, Kansas City, Southern and Rock Island should experience a strong pickup in traile, the arm bellaves.-U.P.I.
Spot
BY JESTLOL) 180ALI
Sept.
Der
Mar
May
Coni, No. 2, yellow
Spat
Juty
Bet
Dec.
Mor,
May
July
Sept.
Oula
July
Paris, June 11. The French Government is to
Sept.
Boybeans, No. 2, yellow
Spot July
Sept.
Nov. Jun,
I
Mar
State Loan
The weekly average produc- launch a late loan early next tion for the month of May was week, the Finance Ministry, an- 378,000 tons compared with nounced. The company's Wixom,
Details of the loan will be Michigan, assembly plant work-407,800 tonx in Apdi. Pig iron
production
similarly made known on Friday in WAT Ing on maximum overtime schedule, has produced more affected and the weekly average broadcast by General de Gaulle Burley, than 18,000 units but has about of production for May dropped and et a press conference by to 240.000 tony compared with Ford salt sales of la Com-April's 250,000 tons-U.PJ. tinental Murk-3 cars in the last six months agregated 7,040. Sales of the Muric-2 motels in
10,000 unnlled orders.
a period of 18 months totalled 3,000.
Edsel
les in May. Ford sak, word up 12.8 per STIL from April.
Chevroles division of Geilera Mote F Corporation reported new car sales in the last 10 days of May totailed 45,025 for the best sales period this year. Dealers sales of Chevroleto in the January-May period wera 690,600 ngaİYONE 590,900 in the like 1057 mumtha-China Special.
المالح
The
M. Antoine Pinay. China New York flour
Mall Special
200 1b, kok
120-135
DUPONT ACQUIRES YARN PATENTS
of
Wilmington, Dels., June 11.
duPont Company да
the acquisition certain United States patent mplications of American Enka Corporation relating to textured yard processes.
the Textured yarn made by
processes involved in this traninokiom
Pessoa through an air jet to toeTORSE
ite bulk, duPont said.
The melius had been taken to
but this tinued.
was being discon
remove possible confllets thai | Rights under the former Enka could have been troublesome patents and applications would to the textured yarn licensres be made available to duPont's licensees without additional af both companies.
royalties. Baroul had been licensing fox-
Uite processors to make bulk or DuPont reported that there had Exlured yarn undte ils trade been an increasing interest in the use of textured yarns of mark "Taslan". Euka had also had a licensing proCESSÓR ali kinds,--China Mail Special
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