1958-09-18 — Page 9

RANSPORTATIO

Funnel-less Flagship

Queen Juliana of the Nether- lands, launched the us Rotter. dam, the new flagship of the Holland-America Line, at the yards of the Raiterdam Dock. yard Co. recently.

10

The ship, which will have a

tonnage of дрота

37,000, weighed exactly half this

Her keel was the launching. laid in mid-December 1955. 748ft, long, she is the largoat passanger ship ever bullt in the Netherlands, and he twelve decks with accommoda-

irt tlon for 1,400

first And tourist cisas.

Almost all the rooms have private hakta, shower and tallet, and the ship has An Interlor

and open swimming pool. The ship is air-condition- ed throughout.

The Is Rotterdam is the first major transatlantic passenger ship

traditional without the

funncis!

In

Bhet oxpected to make her Malden Voyage the Autumn of next year.~ Central Press Photo.

Comets' 5 Million Passenger Miles

TIVE and a half million

FIVE

THE CHINA MAIL, THURSDAY, SEPTEMBER 18, 1958.

PRICES SUSTAINED ON WALL STREET

New York, Sept. 17. Wall Street was betting on a new wage contract for Ford which would legitimate a walkout of duration. This feel- ing sustained the stock market with a sized volume today.

Continental Ok of Dei. Crown Zebærbaçtı Cuban Amer, Bugar Diamonų Alkali an Diamond Maten Co. Douglas Aircraft Dow Chemicals Dupont de Nemours

There were a few soft spots | Consolidated Edison which brought the industrial average dava after it had hit new word high at mid-season, The weak, issues Included Du Pont, Goodyear, U.S. Steel, and Bethlehera Steel. Their losses Vinged to two points with Con-astern Airline monwealth Edison dipped in the utiliosa.

Meantime strength appeared In a number of locks which

rese three points

tils

or more in

group including Zenith, Schaley, International Paper,

and others.

Held Well

Several oils het well after that group had shown strength rrow

noon, Royd Dutch featured in volefie. Inierna- tional alls held gains better than the domestic.

A block of 23,000 shares of a brondcasting company WLB

severul transacted l

other large sales were made during She session

and shortly after the opening the tickers ran late for a brief period, Lorflard ran up after the company made

a special announcericht.

Parke Davis tell three points in the drugs, International Business Machines lost two after setting a new high.

Of total, 1,212 Issues traded, 525 were lower, 472 higher,

New York Stock Exchange

GERMANY'S A-SHIPS volume was 3,700,000 shares.

READY IN 1961 THE Gorman

marchant flect expects to have its first atom-powered freighter

1961. some Hmo in

Herr Thomas Entz, a Rendsburg shipowner, is allowing freighter ho ordered from the Kiel Howaldt shipyards to be used for an experiment.

New York Stock Exchange bend volume was $8,620,000,

American Stock Exchange volume was 800,000 shares.

Dow-Jones closing

were!

30 industriala

20 rails....

to utilities

* Nicka

0

The four coastal States of Hamburg. Bremen, Lower Saxony und Schleswig-Holstein have set up a committee to study the development of a power reactor for merchant vessels.

and eco-

o

Nuclear scientists nomists in Germany belleve that foreign

ture so far companies abend in the development power reactors that the Germana tould not keep up with them Even if they built foreign in- stallations under licence, Be- sides, they are afraid that the Germans will never see the intest foreign developments and. therefore, never brenne Coți- pelllive unless they develop reactors of their own.

40 bondy

Er Kodak

El Paso National Gas Fomily Finance Corp, .. Firestone Tyre & Rubber Ford Motor

General Dynamics" Goneral Elecirte General Foods General Motors

Gen. Pub. Util.

Con Tyre & Rubber Getty O...

Glidden Co.

Goodrich (B. F.) Co. Goodyear Tyre Grumman Aircraft Gulf Oil".. Heyden Newport Corp. Homestake Mini Co. fagersoll-Rend.... Inland Steel Co. Interchemical Corp.

1grett Meyers Tob. Co. Lockliced Airerati, Loews Incorp, ...

Lowenstein & Sons. Mebernolt .. Ray McDonnell Aircraft

Stock Exge.) Merabi Iron Corp. Minnesota Mising Mission Developiṇent Monjunto Chemical Co. Montgomery Ward

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

BUOYANT MOOD

CONTINUES IN LONDON

London, Sept. 17, Stock markets opened the new fortnight account to- day in a cheerful and buoyant mood with senti ment given a fresh boost

high.

Pago 9

BRITAIN'S NEW MOVE

SHOWS THE

STRENGTH OF POUND

By SYDNEY GAMPELL

Montreal, Sept. 17.

reflects

Today's further lòng step towards freeing Bri

tain's Imports

the progressive strengthening of the pound sterling.

A few years ogo any auch United States cheaper move would have fooded the they can be made there.

ilon

by Wall Street's all-time | British market with North For cost of living compari- American mochinery because it | sons of their own staffs, many was cheaper.

loading North American Institu tions Take the pound as worth Today, the British authori-four or five dollars instead of reasonably confident the official two dollars eighty that the Imports will be kept cents.

In the

market Kilt-edgei interest

the switched from longs to the medium and short- term-anted þords which showed, rains of up to th."

STRENGTH

are

down to the limits that can be alforded not by artificial

The strength of Industrials. restrictions but by the com- was the best feature of the petliveness of Britain's own day although closing prices | goods.

were below the best in places,

due to prodt-taking.

or so,

Being Better

Concession

The new concession

applies

to the United States just 13

much as Canada.

It would have been lampos- While virtually all the in-

|ble to discriminate between the dustrial groups joined in the To the extent that the dollar two dollar countries, it meets

the the are preferred in Business done on the Hong-advance gains cften extended good

point which has to n Stock

shliling Exchange tia kong

British market by being better troubling many minds this Kaffics were firm under South or cheaper than British morning amounted to approxi-

or Britain did not restrict mately $490,000.

Roods, the new fin- goods from Germany Noon quotn-African Inẞuence while tions and the morning's trans-monds also improved. Coppers ports will help further to keep restrict them from Canada

responded to próspeels of metal Britain competitive. shortaxe H the Northern

netions were:

165 | INSURANCES

Provident. 11-30 11

dla-GermQ41

boen

that

such

but did

although the German currency is fully a strong as doller6.

It also goca for to meet plea

tho by

Canadian Finance de-Minister, Mr Donald Floming

Rhodesian strike continues. As a result, the decontrol of hardened but tins rauned salmon probably means Lead-zlars 29 + 753

more to Cumda than the but control of all the machinery.

agricultural Shell Industrial, fer tured with a rise of 3/15 to 148/3. Royal Dutch at 183/6 was 13/32 up-UPI.

Hotel 21,30 21.30 4500 # 21.20 1000 e 21 20 30.75 2125 1000 of 31

JARY

1.35

Oils had on erratic day

closed higher. mostly

Dividend

143

1071

st

Int'l Business Machines int Tarvaster....

403

7721

Shacry Buyers Sellers Sales

justérnatkozni Nickel

17

BANKS

International Paper

112

HIS Bank

750

Inti Tel & Tel

were dull,

John-Manville Co.

451%

Lombard

.

Kaber Industry

Union

75

Kansas C. Power & Light Kennecott Copper

41

SHIPPING

934

Wheelock

723

DOCKS, ETC.

What ..

1.90 5.05

100

259. 5.05

300 43%

300 a 13.40

363

LAND, ETC

(Am.

32K Land..

70%

Rumphrey's

Really

RUBBER

3814

Trust ..... 1.323.

49

A. Tawah

2171

Sungala

1.80

18412

UTILITIES

0512

2110

Star Ferry.

Yaumeld

9914 2455

C. Light

1135 17.40

#74

Electric

123,40 25.00

2404 1030 à 17.30 11525.40

SOO

4468

37

574

*4

Macao E... 030

30

INDUSTRIALS

1022

412

Cement STORES, ETC.

23.90 24.10

21.80

450

1000 or 24

1000 21.63

Dairy

DOTS

280 17.43

0815

Craw

10.90 11.20

13.10

COTTON:

Motorola C......

| National Biscuit Co.

National Cash Reg. "Aixai National Dairy Prod. National Lead

Nailonal Steel Corp.

New York Centra)

Norfolk & Western Ry. No Ames, Aviation North-west Airlines (Com,

Olin Maineson

Olis Elevators agen Owen-Hungis Glass Oxford Paper Co.

Yaelic GRA & Elec. Pan American Airways averages Paramount Pictures

Parke Davis Co. Penny J. C. Co.

625.40

Penn. Salt Co.

138.11 Phillip Morr

60.8 Procter & Gamble Cv. 1880.30sburgh Plate Gla 03.04 Publieker Lustries

Comm. future price Index. 151.3 Pure Oil.

Allis Chalmers

Indio Corporation Fadio Corp. Pref.

Sinclair Oil

4512

00

*

Amalg 1.63 1.075 3000

70

123

The Douglas Steamship Com- pany, Limited, have announced 1.073 dividend of $40 for the year

7.93 endlag December 31, 1957.

1.35 135

Tram 25.20 23.40 1500 25.00

10 130

Watrou

200 25.00 570 23.00

17.30 17.40 2500 m 1131⁄2

Textile

MISCELLANEOUS

INVESTMENTS

3.65 5.7%

18

Exchange Rates

95

10

Ch. Ent

301

Allied

Closing Prices

Republic Steel

DO

Raynolds Metal..

Scary, Roebuck & Co.

Alden Inc. Acy. Ained chemkeats Allied Mulla ano.

$20

Shell Ou Co. ...

559

Salut Reg. Popor

401

3314

Secony. Zdoblieit

A. Brake Shoe

41% Salar Alteraft

10%

Business

Was

American Airline

22

South Puerto Rico Sugar

201

tinoliteial

deue in the local expiange market

American Cable & Rake

Сохра

Southern Co. (The)

314.

morning at the following rates:-

6

American Cyanamid Co,

Power

19

312 Southern Itallway (Costa)

Standard Brand

Southern National Go

20%

U.5, color (per $1),

40

Biering notes (per 1

16.02

Australian notes, (per R1

12.보지

Am. GA, & Eletric

Indonesien nuptan (per 100) ..

$1.00

101

Standard Dil of Ind

47%

Slam teal (per 100j

20.50

Standard Oll of NJ.

Bingapore (Strait)

251

Step Rock (Toronto Exige.)

4674 | Sterling Drug Co.

33% Stokely.Van Camp.

Amer. & Furg

Am. Home Prod. Am. blach. & F'dry. American Metal

American Smetang Am. Sugar Ret. American Tel & Thi American Tol. "H" Anaconda Copper Anned Steel Anw

Atlus Cora. Musing Baldwin-Lansa-Ham, Baltimore, de Olmo genericial Finance Bendix Aviation Corp. Benguet Cone.

Bethlehem Buel

Boeing Aeroplanie

Borden (The) Co Burroughs Add Machine

Herr Entz, who believes in the miles lie behind the future of nuclear power for ship- RAF's small flact of ten ping, ordered Howeldt recently the freighter's con- Comet 2s, oquivalent in dis- to charge tance to 1,600 New York-struction. The ship will be rein-Campbell Soup Co.

forced in some vital places yo

London flights. This was dis- that it will be able to earry the closed in a summary of RAF | reactor with its heavy protec- Comet achievement

radiation. com- tion against

Herr and Entz is confident that the atom-

piled by do Havilland'

Caut Packing Corp. Canadian Pacific R Case (3. 1.) Co. Cat. Tractor Celanese Corp.

431 Starutard Oil of Cal

185

Studebaker-Packard Corp.

84% Sunilne Mining

M4 Swift & Co.

3844 Texas Co.

104extron Inc.

114 Tido Water Amn. QUI

134 Time Ine.

40771-Cont Warran's

34 Twentieth Centrey Fox Fun

514 Union Carbide

Union Oil of Cal.

48 Union Pacific Railway

464 United Adreraft

7314 United Gas Corp.

38 US Foil "B"

50% US Gypsum

44 U.S. Line Co.

יב

US. Rubber

214 US. Smelting

01 US. Stem!

21

1. T. Financial Corp. Chrysler Metors

Clue Probolly

covering the Comets first Powered freighter will make its Colgate-Palmalive Co

two years

bno of service, year in full scheduled pas-

songer carrying oporation.

The Comets

(Rolls-Royce

maiden voyage early in 1981.

PARTNERSHIP WITH

Avon engines) have flown 200 HONGKONG - FIRM

million passenger' miles.

and

carried large quantiles uf freight. They have beer: circling,

the globe regularly from the

Halfa, Sopt, 17.

Packie, vis the U.K. to Australia THE Israel National Ship-

and visited countries.

morg

than 40

ping Company Zim has antored into partnership with Hongkong interests to Almost 100 scheduled return

a now line, a Zim Bghts to the Far East have been form made, half of them to Australia spokesman said here today. or New Zealand. Many more

He said the new enterprise than that number have been Gold Star Lint would Far Eastern flown to Cyprus and the Near operate between East, the recen! Cyprus operation porte, the United States and olono

for neatly West Afrlen. secounting 100,000 calles in a D-day perled,

Tho

employing only seven of the initially Cemels,

TRANS-ATLANTIC

Sevenly flights have been made across the Atlantic and 60 across the Pacific Ocean.

175 unscheduled passenger

services have been flown, many of them arranged af short notice

to meet urgent pital ΟΣ military requirements.

Canada to the United King-

would operate Jius

chartered with four vezels the first

which had alrady saulled from Hong- kong for Africa, the spokesioRN added.

He refused to identify the Hongkong purtiers,

It is understood the Ghana- Israel Line Blark Star will re- prent Gold Star in West Alries-Router.

V dam in 4 hours 5 mins. ot an INFLATABLE RAFT

Colunulan Carbis Cu Commercial Credit Cominenwanith Elec.

UN Lead

US. Bleel 7 P.C. FF Warner BroA.

Westinghouse Air Brake Westinghoure Electric Western Union Tel, Co. West Va. Pulp & Paper Wout worth

& Zinc

Conference

180

and

for convertibilty. office machinery may mean more interested b

to the Unite! States than to

He is believed to be more lifting discrim-

Canada but even in the United convertibility. Slates the competitive boot has believed to do little more than The newsprint decontrol is moved to the other leg.

formalise the existing situation. In many lines, so far from This is the imports of news- the United

under-print to Briah have been. selling Britain, smell care and Imited by the size of the market agricultural tractors can be im-rather than by the leensing ported from Beltain into the central.

States

Spotlight on prices

COMMODITY FRICES

400

J

H

1967

1950

110

RETAIL

108 PRICES

106

104

H A H

The fall in "never-never" charges is a welcome outcome of the launching of hire-purchase loans by the big banka, This is showing up once again the value of competition. It is surprising that while raw material prices have had sleep falls, retail prices have continued upward. This chart spotlights the different trends.

COMMODITY PRICES

FOREIGN EXCHANGE

NEW YORK

Closing rates were:

Canada

Kingiant oficial

Others unchanged.

LONDON

Closing rates were:

New York Montreal Ainsterdam: Brussels Onio Paris Stockholin Vienga Zurich

Others

Mar/Apr. May/June

July/Aug.

SAO PAULO

Colton

future closings, in cruzeiros per kilo were as fol-

lowe:

Dec.

10.70 May and other unquoted In the United States, the Ta2-11/32 | average price of one-inch cotton

2.80-13/33

280-0/10-2.00-7/16 2.73-19/16-3.74-1/16 10.50-16 139.07-130.00

20 001-2000 117416-1175 14.4734-14.47 7220-240 119-1229

unchanged-U.P.I.

COTTON

By LAURENCE MEREDITH

London, Sept. 17. The United Nations lead and zinc conference, which for the past three days has been dis- cussing problems facing these industries, today decided to refer to their governments the suggestions of temporarily cutting ex-ay as follow: ports and of setting of study groups in the metals.

The 'conference set up a sub committee to resolve the replies un theso of the governments questions and to report their conclusions and to make appro- priate recommendations at a late conference,

which are weighing up on the world trade in these mictals.

NEW YORK

Prices of cotton futures cloșed

dict.

Doc.

Mari

May

July

Dec. Mar.

Sept Oct.

24-2414 2015-2014

Estate crepe this Oct,

thick Get......

V.P.I.

METALS

Docontrols

The colonial decontrola re- main to be worked out but the short position is that British and Canadian goods will now have to compete more on their merits. For Canada this would be particularly Important

in the Wcs! Indles with which Canada has very close trade end banking connections.

The Brish Inally

proposal

Onishes

announcement

Jast year's an Angio- Canadian free trodo azen,

Ono element of that propost- tion was that British would remove discriminations, against Canadian dollar goods while retaining them On United States imports,

Canada was er shattorod by Inst years Belish free trude

Arca proposal

sho WEA- delighted by todays almost

equally unexpected announce- ment-Reuter.

New York Cotton Market

New York, Sept. 17. Colton futures today

sawed

Bee-

indecisively in quiet dealings.

Closing prices ruled Ava points lower. The market opened up two to four higher, New Orleans closed up one to six points.

Operations were given ower mostly to evening-up in the NEW YORK

October delivery, anticipeting Prices of metal futures closed | first notion day on September Total sales were 8,241 bales-today in cents per lb. so follows: U.P.I

at 14 designated spot markets was 34.65 conta.

RUBBER

NEW YORK

Rex

elosed 20 to 40 points

rubber futures today higher

Lond

Bru

Det

Zina

sept.

Copper

SEDI

Oct.

Sept.

LONDON

10.000 10.096

24. Other traders awaited the government weekly report on joan impoundings.

Mompisis brokers absorbed 0.855 October liquidation pgsinst aples 23535 of May contracte. Commission houses were on both sides of the 25375 mariest but were" "wellery"" on

balance in the deferred months. FOUND LITTLE.

91.006 93.75

›

Prices of metals closed, today in sterling per long to us Buyers Bellare

| with sales of 46 contracts.

Closing prices:. Sept: 2.40; Nov; 1910; Jan: 29.20: follows: Mar: 20.10; May: 28.00; July: 28.90: Sept: 10.00.

73016 7301

21314

The

AMSTERDAM

Kipot

-month

930 730

35,063

23.00

'market The rubber

WIK stendy. Prices closed today in gullders, per kilogram, elt Det. as followe:

Copper

Bpot

-month

Lead and hai",

34.08

No. rubber

204 buyers

30.01

Zina ma sit

20.33-37

No rubber

Bopi.

001

Wo.

39.58

No. I crepo

pec

33.50.

2.15

30.63

15.10

30.03

9321 buyer

34 burers

153 buyers

SINGAPORE.

On thin the commubique said:

The market opened slightly "It was getserally agreed that.

NEW ORLEANS

lower on disappointing oversens

advices but steadied" the: Imposition tariffs or im

on short port quotas by importing coun- Prices of colton futures closed covering and new buying and itles would not, from an inter-today as follows:

increased demand for lower national point of view, provide

grades, Tho

No. 1 rubber per ib. Oct. 821-53 It is understood that the rub satisfactory solution,

tariffs and/or

Nov. 83-83); committee is composed of the imposition of

15. Oct. 81-811 No. 1 rubber per United Kingdom, the United quotas by some importing coun-

No. 3 No. 4 logged by RAF Comets UK, to A ONE-MAN reft made from States, France, Belgium, Peru, tries would lead to diversion to Mexico, Federal Republic of other markets with depressing Singapore In 17 hours 55 mina, UK to Brisbane 17

26 been developed by a company Germany, Australia and Canada. effects and would be bound to have adverse repercussions on hours 20 mkis. and from Christ, in Westphalia, Germany. "The

international trade generally,"" mas Island in the South Pacille brighe: yellow raft is 3 feet 8 to UK, in 20 hours 40 mins, are other examples.

average "peed of $10 mph. is

one of many tast flying ̈£lmes

bu

and rubber perion

inches long and 8 feet 6 inctres

wide. Ita tubes can be blown

up within seconds with the

Opposed

Bpot

Oct.

Dec.

Mar.

May

July Oct. Dec. Mar

938282282

LIVERPOOL

Cotton futuro cloning, it was learned that this point - of view was very strongly pre-pence per lb. warp as follows

the delegations of The communique issued at @nted by

•Americki. Osusiyat Strateghe mobility at high speed and in comfort is ald of carbon-dioxido CAT- the end of the soufgrence | Peru and Mexico who argued indicated that hp sonterenca that the imposition of such by now enjoyed by Army, Navy and tridges. Air Force alkoin

It weighs only 61b., Alling came out strongly opposed to the United States wʊnki baye pressurfred, comfortable military equipment Included. When he impotipon, et tariffs or dimitrous, effèdia upon Comets holding a Civil” Cep-stowed, away the raft mepmirce importa quotas as a solution comprales of their soumirlos.-—-—---- Hicate of Airworthiness,

ordy 8 by 8 by 10 inches,”. to the problems of over-supply

fully

the

in

Spet rubber unbaled Blanket crepe No. 1,pale crepa

LONDON

1819-a

L

-

91-035

$7-55

The rubber market was steady with spab quoted at 24 pence per ib. Prices:

No. 1. Tak spot viena 24-9656.

Bettierent" - hrano terms; Oct....

Noy

Deg

Oct/Dec.

Jan/Mer.

Ganeral markets, eit baule, Corts,

SPCAR

New York, Sept 17, World No. sigur fatures elpad one point, big?me to two polowar with sales of 217. Contracts.

Domestic No. 0, sugor futurès one point lower to one point higher with no miss reported. "Contras No "4 (world) at a Jul: 3401 Spatz 2.461 Oct1 340:4D: 248) YAR: 2.45) Off 40 ppt Comm per 1. fob

Contrast Nb, 0 (dornoside)

Traders found Uttle in the nowe to influenće príbag. The textile, market remained gules. Crop news continued metly favourable, although reing over westeyn socilors caused congem over the posibility of dijyed hervesting and dirnage to the grade of open colton in that Orig.

The Lympool market closed 10 to 17 English points lower and 737 to 846 American polita Archer New York futures,

Haw colton exports for the season" tofalled, 423,291 bolės va 434,043 balon by the same išme last season, according to the New York Cotton Exchange

Open contracts in October today totalled 85,209 baler, Tho carlifested shock core. 938 boles to 48,181 bales, setting a new high." The steady rise in the micek

traders October deliverina,-U.9.[2

called

Ford-UAW Agreement

Dewpli, Skyt. 17. Ford Motor Co. · szt Valbed Auto Workers' Lanton

workers is the Erschi