1958-10-01 — Page 9

THE CHINA MAIL, WEDNESDAY, OCTOBER 1, 1958.

THE HEALTHY

STATE OF

TRANSPORTATION UK ECONOMY

OCEAN TOURIST TRAVEL FROM LOS ANGELES TO OCEANIA IS EXPANDING

Los Angeles. THE Matson Navigation Company has just completed an ultra modern cargo passenger terminus in the Port of Los Angeles.

uccess

London, Sept. 30,

Britain's political medicos who seem pleased with the progress of the country's economic life during the past three months are issuing certificates of health in all directions.

Controls have

born met

away wholeente recently, aft g with the abolitics of eval rating,

of bank ic- Poduction in hi- purchase deposits and prel

22,

The terminal covary a 48-

to the ship's "A" deck | 9ages and the latest once- site, including 26 neres for park- vinil

semiportal

from Montreal this travellingent ing 4,000

bringing near the pois she! private automobiles. | gantry. Tin latu urea is available for

A Taxationsly appointed widt- sterling converüblity bej <perit slege betwe arnivals |ing room-35 feet by 100 feet.

paseniger | with - seating capacity for

and departure.

tal

with us.

100

shipe and k Komunated for people, is immediately adjacent night DECTATIONS, (Mateon to the pazenger baleriny. freighters do a giat vedome of Darely

ben, de flere

*

arga tratŝe with the Hawallin | level of the transit shed, these Islands, Hongkong, Austratio won laguynge man of 11,000 A heltempter Leong Seki n square fect. Passengers may icated within the feiity's con-alight diveetly from taxis dnes for penges who nurse pivate

unicard bui depart trust Tyserum wiring's luggage. Another electme atvir- priyle ym. Ter

way is popvidrel fa this tres ta morales | transport pancongans aut vic

lons to the comecare and what

The 1.200 : kittit by 200 Deel wide, vicar poft inany special fedures for the expeditious leading of passengers and cargo. A nearby

THI.

vas and

Kieneral Manager Chughlin predick that pansenger fer vel From Lo Angels will continue pavilion building ones anter expatd. "especially to da Pipetric dway contering Pucitle" area. This prediction, with an overhead bridge which, he admits, wee gally streng in turn, conneek, with the transit that recently when the U.. shed's second floor. This enables Department < Commerce passengers and their visitor to satiated a comprehensive survey reach the second Boar Boceding and technical hunce project ramp without countering to help develop Yourbon in 16 hazard of easing the bowvily count?ries including New Zen- **Ber try: and

abrad

land id Australia. This study traffic area.

hnuid

victo valuable 1- Aller evering this. Bige foto: Fion for America: esrJOAN PASSOBJORN

the 19ps and others in government and Revis concoure wilen exod. private business carried with long the waten-ide uf touciem in the Pacific eren," he building. This gives them direct eaid.

This waiting room at Matson's Terminal in Los Angeles Harbour will comfortably accommodate 100 people. Adjacent balcony leads directly to "A" deck of luxury liners Mariposa and Monterrey bound for New Zealand and Australia.

ne

within exnelly 12 monts of that

All these events had

stupendous bank rate na for seven per cent, showie plete recuperation from Besick

Les which beset the pu

Concession

New York Cotton Market

New York, Sept. 30.

Tho

LONDON

STOCK

MARKET

London, Sept. 30.

stock overcame somo carly profit-taking to close firm. Gilt-edged. securitien met support from investment buy- ing and cinerd higher,

market today

of

Industrial lentes were strong. Speculators wero in the market for Ford Motors in expectation tomorrow's dividend nn- nouncement," Engineering, 10- baccos and breweries were piso in good demand.

REACTED Dollar stocks reacted to the overnight spurt on Wall Street. Gold stocks were higher as were coppers and other base

metal shores.

BURST OF ACTIVITY ON WALL STREET

New York, Sept. 30. September' closed on the New York Stock Exchange on

a burst of activity with industrial shares at an all- time record high and railroads at their best level in.

more than a year.

Const

day of

Four-Million

Baldwin-Lim-dum, Baltimore & Chin

7,500,000 gurt Cons.

| Botleber, Steel

Beeting Airplane

Borden (The) Ca

Toughs Add Machine Calif. fcking Corn,

HAM Pacine HL.

Canadian Co.

(Cam

(7.1) C

The els T late shortly, except for the fact that Septem- Allan Dons. Mining after the opening and again at ber of 1958 contained the closing the. In that last grap Elsenhower heart attack market Beneficial Finance Une ralls met some selling, with to heavy volume that in- Berkiix Aviation Corp. notably New York Central cludes which lost a point at its low, shares at volumiza Strength

in Aletle Ele and Norfolk & Western, however, sustained the average.

September Was the moet arlive for that month since 1029, the solid males vo for this year all but by

set a new high Oll shorts Joined the since 1933, being exceeded only turn and netted more than a

1955. The volume would point in several issues. liens by

have crossed the 1955 obstacle ruled strong with gains ranging demon Carbon Co.

four. Some of Commonwealth Elee. to more than the tobaccoś, chemicals, Consolidated Edison metals, paper

foods, Continental Oil or Del. drugs and TV Issues registered Cuban Amer, Sugar

Crown Zellerbach gains of more than two points.

After an Initial hesitancy uil Issues

moved

up led Ultramar and Canadian Engle.

Greek and Japanese advance in the foreign bond Colton futures today see section.-U.P.I.

sawed narrowly in quiet dralings but managed to show small gains most of the time.

What is motis, thus have happened with pec during this quarter and are from Government and invate stoppage enterprise sources hay sme at Jolned with a breath-taking rate.

of

Covering in the October delivery, following the prompt

delivery

notices, unfavourablo centent belt crop accounts and The concession manerd ja quickening demand for in Montreal by Sir Deles textiles, in importing the over- reflect the progresiv de tone of steadiness. of sterling. A few or 459 this step would have attracted much North Ame chinery

Prediction lo Britain. Aly

for freezing because it was betty la also weather alon the northern because it was cheap

tlor of the cotton bell, and the This 18 no longer NW continued heavy rate of loan there is confidence Bralimpoundings, were other back- cun compete with st. in Ground factors, the world, both forty and price, aud that the in-

for

them

debarring America, although

PREDICTIONS

LUMBER PRICES DIP

Portland, Sept. 30. Green fir lumber prices have dipped another $2 per thousand board feet on some key itoms at mills in wostorn Oregon and Washington.

Wholesalers report they are paying about $65.00 per thousand for bulwether green fr two- by-fours in carload 1ts, com- pared with $67.00 a week ago September. However, the price is still above the market low of $55.00 last winter.

The Government weekly crop poris will not exered team-bulletin sald weather Was able limits.

In that respect the urice Benerally favourable for har- and the high of $71.00 in early

vest

In eastern sections, but ment wns n pat er de lack rains delayed maturing: and

Britisit manufaa. It

harvest most other scetions, also did away with maty

t quality which allowed imp of such with deterioration

Most dr belt fumber whole- Kooda from Gerne while! In south-western sections.

Seth Balts in New Mexico not onlyers attribute the price de- cline to too many transit cars pleking but reduced still moving unsold on the mark delayed

bolls. s easily as strong & dallar. Erude by staining open

Suuth-westem Texas prospects carloads

Fails. Transit operators buy of lumber at mills, Relaxation. were clouted by heavy rains then offer the lumber to East- ern dealers while the lumber is The relaxation hire-valley.

in shipment-China Mall Spe- ciul. controlsided purchase point to the bar recent forts to allract erre and case buying of humdo and; other durable good Admittedly, the

manent

bas denied that unce- ment was in consete of the incavures taken banks and it matters. Ja whether the hen or the eye Arst), but it must be in agree ment with them business activity must be sped up quickly,

Speculation is nfe on the removal of cellb, of Invest- ients by pubile qurutions. This may be n the list. of consideration at Chan- cellor returns to Canada, Gut it will depence he turn over of sales wire advan- such lage will be rig of racasures-it an hen they

come.

Transition

The transito:

Britain

from a state of duen to one reasonable quilibrium,

انه

NORWAY EXPANDS HYDRO-FOIL BOATS which has appes within the

SHIPBUILDING

FOR MALAYA

NOR

TORWAY'S shipbuilding

industry,

Singapore, Sept. 30,

pro-

and flooding in the Rio Grande

SCALE-DOWN

Statistician commence! ΤΟ senle-down their ideas on crop Some Prospects for the season estimates suggested a cut of around 500,000 bales off the est

government figure for 12,105,000 bales.

The Liverpool market closed unchangal to

English

points and 693 to 600 American points under New York futures.

The open position in

October totals 39,300 bules and the certiflenterl stock 43,528 bales.

West German Reserves

Frankfurt, Sept. 30.

HONGKONG STOCK EXCHANGE

Our Own Correspondon!

Business dose on the Hong- kong Stock Exchange Llin morning amounted to approxi- ately $180,000, Neon quota- tons and the morning's trans- netlums were:

Shares 'Buyers Helior BANKR

Tony's trades ran above the Cat. Tractor 4-million share mark.

up-

Steels

Sales today on the American Stock Exchange totalled 1,220,- shares, up from 1,120,000 shares yesterday.

SUD

Gelege Chrpx

0.1.7, Firencial Corp. Chote Manhad, Nank Chrysler Motors

Quick Peabody Calgate-Panolive Co

Commercial Credit

Diamond Alkali....

Diamond Malch' Co

Douglou Alreraft Dow Chemicals... Dupont de Nemour

Eastern Afrtine...

Eastman Kodak

| El Paso Nationp) (las

Bord volume today amount-Tamily Finance Corp.

cd to $0,280,000 against $6,670,- Firestone Tyre & Rubber

000 yesterday.

worn:

Dow-Jones

30 Instala

18 lis

20 salle

63 storkn

10 boton

Ford Motor ......

General Dynamics

General Electrie

closing averages General Foods

Comen future price index

Closing Prices

Kales

Aldier Ino. Aoy. Allied Chemikala

Alled Mills Inc.

1FK Bank.. 7473 78215 10 700

INSURANCES

Unlo

Lombard

SIBPPING Wherlock..

7212 73143444

.300 7215

5.00 5.05

DOCKS, ETC. Dock

43 Prevident 11.30 11:40

LAND, ETC.

HK Hotel.. 1 Land 301 Realty

RUBBER

Ang

A. Tawah..

Sungala

UTILITIES Team

Allis Chalme

Am. Drain Shoe

Ameti Airline

American Cable & Rectio Cup. American_Cyanamid Co Auner. Forgn, Power Am Gas &

400 Er 0.001 Am. Home N

20.00 21.30

1321ans nos or

133

1.024 1.85

2.20

1,90

241⁄2 24.00 1300 - 24.00 BIL

300 et 24.80 500 24.8D

Yaumat

C. Light

Electric

17.10 17.30

130 17.10

1200 17.20

24.10 25.10

1+

(

13% 18.70

1000 13.00

"

D.06

2315 23.00 5.70

West Germany's foreign ex- change riserves increased by 129 million marks in the week Marae E ended September 23, while goid

..(R) huldings were unchanged from the previous week, the Bundles Cament... 22.10 22.00

INDUSTRIALS bank announced,

On that date, they stood at STORES, ETC. 27.600 million marks, including Watson

Dairy XD 10,792 million marks worth of

£.. Craw Raw cotton exports for the old, compared with 25,471 coTTONS

total 535,041 balts Vs scuson

linn marks, including

10,792 Texti 700,300 Lales last year, accord-million marks worth of gold on Nanyang Ing to the New York Cotton September 15. China Mail Exchange.-U.P.J.

Speeli

15.00 10,0 10,00 12.40

10

J.00

0.05

INVESTMENTS

Allied

4.05

Am. Mach. & Fary Amerwan Metal ........ Americary Senel Ung Am Sugar Ref. ... American Fest. & Tel American Tob. "D" Anaconda Cooper Amour

General Motors

Glen, Pub. Utit,

63949 Gen. Tyre & Rubber

00.71

101.56

88.00

150.74

Chicago Grain Market

Chicago, Sept. 30. 38171350 Grain futures prices closed

In barely steady ranges today on the Board of

Trade, with more strength evident in soybeans.

Commission house soiling in and toppled

ARTIE...

NEW HIGH

Getty O

Glidden Cu. Goodrich (B. 7. Co. Goodyear Тупа ... Grumman Aircraft

Gulf Oil

Heyden Newport Corp. Hometalco Mining Co. Ingersoll-Rand

and Biel Co.

Interckemirai Corp. Int'l Business Mactrines Int'l Harvester .. International Nickel International Paper int'l Tel & Tel 800 10.90 wheat increased:

pripes from early high points, | Juhn-Manville Co. Must independent selling was by local longs. Brokers bought on the decline. Purchases were

COMMODITY PRICES

SUGAR

New York, Sept. 30. World No. 4 sugar closed un changed to eight points lower with sales of 353 contracts.

last six months, and may lead into sorno api recession, has made the measures seem cousany audums.

The chill wins run the far wust emphase the warn which for ITALIAN manufactured ing signs for actors: that many years played only || hydro-fail boats will sneeze of amaz steel minor role as a supplier of soon

duction; the unal cough come to Malaya, the of sterling Whe tonnage to the Norwegian Italian Consul-General Lucio slight rise in theperature of and the marchant fleet, has under-5. Pagnutti said today. unemployment es, which gone rapid expansion and

has refused to during the Ho modernisation. Norwegian

sald un Italian boat recent summer on. bulkler, Leopoldo Rocelucz of yards now hold a larger pro-Messina,

While the down are proud Sicily, is producing of their work effecting the portion of Norwegian now this type bout which

is patient's recover they are wise building orders than those of fitted with two sfeel "wings" in peralating their touing- Dar any other country.

or rolls, und the water-line up exercles.Ching

Mail May The industry's position will be hull, which raise above the Special.

July Sant. further strengthened when Water surface during

a fast various expansion schemes now run.

In hard are completed, bringing

of

The rolling of the boat

IN

production capacity to aboutthus reduced, and its prevents

deadweight tons an-

about 400,000 at ren-sickness.

600,000

minlly from present.

Pagaut said this type of

The pace of recent develop bo would be Ident for coastal ment is illustrated by the sharp shipping service, in Malayn, —

climb in totals. In

annust production UI.

1938, which was the

pre-war record year for the in-

dustry, outpni reached only

50,000 gross tuns. This gore JAPANESE TO

was not exceeded

when production

some

Kail 1050,

amounted to

40,000 gruss teris. Since SUPPLY ISRAEL

then, production has been climb.

ing steadily, and last year it

passed the 20,000 gross

of

tons

Jerusalem, Sept. 30.

Domestic No, I sugar closel three points higher to one point lower with sales of 70 contracts. Contract No. 4 (world)

Oct.

Jan

3.36-37 3.42

3.45

3.46

In the afternoon lower grada, interest returned with fair ex- changes taking pinec. Prices were somewhat higher and turnover was talk. Fulares: No. 1 rubber per lb. Oct. 841-849

Now, BUS-84k Ne. 2 rubber per 16. Oct. 821-83 No. J

DIE-0114 No. 4 Epet rubber unbeled

サー lanket crepu

6314-04

0715-0015

MA-

Nu. 1 palo crops

********* 80-83 London rubber prices were avaliable-U.P.I.

COTTON

METALS

NEW YORK

Prices of metal futures closed today in cents per lb. as follows:

Lead Ocl

1124b

Dec.

Zina Oct.

Dec.

Copper Oct.

De

Deg

LONDON

considered resting orders.

Kaiser Industry

an C. Power & Light Ketinecott Copper ........

gett Meyers Tub, Co. Lockheed Afrocažt

Loews Incorp. Love Bar, Cement Co.

Cora contrela with the excepice of old December pana dipped again. Trado was slow throughout the day.

Firmness was maintained in unts on scattered, though Ptxderfu*

of Decen buylog ber delivery bý cash interests.

With rain delaying roybean harvesting. the стор held strong priceR in the market. Commission houses bought and there was some short covering. Grains at outsiden markola were rather stendly and weak. Prkes per bushel in cents; Wheat No. 2. red

May

J. Hay McDonnell Aireraft (Am.

Stock Exge.1. Mobi Iron Cory. Minnesota Mining Mission Development

fonsanto Chemiien) Co. Montumery Ward Motorola Inc. National Dari Co

Cash Hing. "A"

National Lead National Steel Corp. New York Central Norfolk & Westem Ry. North Amer, Aviatient North-west Airlines [Com:) Olin Mathieson Ou Bevatore

Sational Dairy Prod.

Owen-linols Glam

Oxford Paper Co.

Pacifle & Elec.

Pan American Aleways Paramount Pictures Parke Davis Co.

Penny J. C, Co.

Penn. Baik Do..

Philip Morris

1131-114 Procter & Gambie Co.

Pittburgh Plate Clas 1172

Publicker Industries Pure Oll

1144-14 22818-14 1214

13015-4

Itachio Corporation Fladio Cory. Pret. Repubile Steel Reynolds Metal Oil Co..

122-18854 bunk & Co.

Spot

19141

Dec. 1941

103

103k

Mar

1024

May

10031

July

398-1973

12400

Corn, No. 2, yellow

10.256

Spos

Dcc.

10.433

Mar.

20246

Dec. now

27.13b

Mar

02.00b

$2.00b

Bye

Oct.

Dec.

LONON FRECHT MAKET

Spot Loente per ib, tol Cuba). 3.48 Open Interest: 4,329 contracts

Contract No. 6 (domestic)

Mar.

Qata

Dec.

0412-36

Nov.

Mer.

MAY

8.73

Epot

34.000

In sterling per long lon oa fol- lowns

Mar

001-2

Soybeans, No. 2, Jellow

35.00

Boul

July

5.78

20%

Solar Aircraft_...

Sept.

Spot-cents por 18. elt NY

B.77

Dec

Mar

330.00

Ilyers Sellers

Nov.

21814-31

Tin spot

724

JAN,

2241-3

Southern National Gan

ex-duly)

Opeti UL

Intonati

8.00

Muy

35.64

72422

21514

Mar.

onntracts.-

July

Copper spot

211

AIG

Niy

22726-35

Bouthern Railway (Com.)

Standard Brenda ....

north

212

July

Dec

Lead 2nd half tapi,

70%

703 | Barlez,

7197

Bpol

110-123-

Zine Erd half Sept.

Prices of cotton futures closed today as follows:

New York flour

Dec.

06

.P.I.

200 W. Back

B12.0ort

-U.P.I

33.10

Long, Sept. 30.

Demand for main marriers

on the Mic Exchange today comued on a good scale.

RUBBER

NEW YORK Rex rubber futures

today

Shipownit ndeavoured to from Norrica to Europe sales of 28 contracts, obtain hiarates for voyages closed 8 to 15 points higher with

of

which chates were not ready

mark. For comparisuu, Imports SRAFL has placed a $10,000, 005 contrac with a Japa

the supply nese firm for

equipment, the nounced here to-

ionnage last new

year amounted to 722,000 gross tons.

A big now building dock at dockyard Stord Verit, Stord,

Treasury wester Norway can take now buildings

day.

Closing prices:

to conced the result that Kov: 1994; Jan: 29.70; Mar: 22.63; very littlegs was arranged. May: 20.501 July: 29.68; Septi 29.30

Vessels also required for Nov 29.50. heavy bum the St. Law-

AMSTERDAM

NEW YORK

Prices of cotton futures closed today ng follows:

NEW ORLEANS

9-8593858

LIVERPOOL Closing quotations were un- available today. Opening quota- tians, old contmet, Oct/Nov. was quoted at 23.86 pence per lb.

Prices of metals closed today

FOREIGN EXCHANGE

NEW YORK

ĐẠO PAULO

|

Closing futures were all un- 1,35 buyers available today. 1.37 buyers 3.23 num.

Englund ofhetul

30-day

Closing rates were: Canada

.0036

Australia

of up to 65,000 deadweight tons. The Japanese Arm, which rence to before the end The rubber market was Ōlliers unquoted. "All new con- and has been designed so that it will rotin one-thin! partner of the resthat shippers were steady today. Prices closed in tracts were also unquated. can be exponded-at relatively ship in the project, has granted Unilevede prepared to fix gulliers per kilo, cif Oct, as fol- low cost to accommodate ships Israel long-term credit facilis half of the reclable quantity laws of up to 120,000 deadweight tona, er It was also agreed that involved inverted tanker.. No.1 rubber If necessary. Its first product French

There We fixtures on For No. 3 subber.....

No. 1 rubber

In the United States, the New Kentana will be a 33,000 deadweight ten should have an interes in the Eastern ; but a cargo of No. 1 ore

2.5 buyers average price of one-inch cotton scull Anice tanker, first in series of three enterprise, although the extent heavy was booked from

BINGAPORE ordered from Stord by Nor-af the additional French invest-northem do to Antwerp/

at 14 designated spot markets Argentin The market WAL UD at the was 46.78 dante. /

India wegian awners. The keel of this ment had not been decided. Hamburg at $4.00 per ton opening on higher overseas ad- Total sales were 12,781 balco. Parten Vessel was laid on August 10, France-Presse.

for Noveloading--U.P.I. vices and ruled quietly.

URL

shipbuilding

Peru

2.1995

Baint nog. Paper Binclair O

Socatly Mobilo!

Bouth Puerto Rico Bugar

Bouthern Co. (T)

Exchange Rates

Busin

was done in the local market this unoffical exchange morning at the following tates:- VB, diliar (per $1) Sterling notes (per

Australan notes (per C1).... tradocian rupiah (per 103) Slam iesis iper 100) Singapore (Biralla) .....

Standard Oil of Cai,

·Giandard OR of md. Blandard Olf of NJ, Bleep Rock (Toronto Sterling Drug Co.

| Stokely-Van Camp.

Studebaker-Packard Corp. Sunshine Mining awitt & Co. Texas Co

Textron Inc.

„Tide Water Aam, Oil Time Inc.

Tri-Cont. Warrants Twentieth Century Fox Union Carbide 5.00 Union Olt of Cal. 10.00 Union Profic Railway 1934 United Aiterall

4.13 United n 2014 U4. Follo LAU.B. Gypsum

U.S. Line Co. U‚8. Rubber

Agreed Merchant

Rates

U.B. Smeltingr U.S. Bleel? P.C. FT. Warner Bros. LOS Westinghoum Air Traka Westinghoum Electrio ........ Wertem Union Tel. CO.

Swiss France Maximum Sell-Hell Yo, Ruin à Paper Lug 7-1/10.