1958-11-27 — Page 9

IMPROVEMENT IN WORLD SHIPPING

Washington, Nov. 26.

ORTATION

FLIGHT RECORD FOR BOEING-707

THE CHINA MAIL, THURSDAY, NOVEMBER 27, 1958.

Page U

No Economic HONGKONG Stocks Have Large

Conflict With Britain

Bad Kreuznach, Nov. 26. France and West Germany ruled out any economic conflict with Britain in talks here today between Chancellor Konrad Adenauer and French Premier, Charles de Gaulle, French sources reported.

Bell utform agreed to work

Now York, Nov. 26. OMMERCE Department DDAN - AMERICAN World

Deco P

to Airways claimed on Monday indicated some have set up two new records racent improvement in the with its Booing-707 jet air-ut a definive settlement In world shipping situation' as meatured by ship clearances of US ports, and volume of total import cargoes to the United States.

finers for the flights from New York to Shannon (fre- land) and Now York to Paris today.

11

The flight from New York. to Shannon was made Experts consulted by

loopine 28 the hours, 39 minutes,

the from

parvus United Press international sald minutes

toward that a tendency

marcord, alsu set up to Boring provement In the world shy-107 on Novenler 2.

hug been junt situation parent

-

The

plane, carry IK But ssengers, and assisted b A tall wind of 15 miles an hour, nyuraged 500 miles per hour for the night.

sace mid-year. they were not yet posed predict a general upward trend on a scale which would esuso large numbers of laid-up vessels to the sens. They return

1.

waited further evidence of a neral improvement in intema- Tunel trade valuations. LOW POINT

The law point in ship caTRIS

renched is Was apparently

the stue LN58

in February Reneral Industrial recession in

the United States during 1957.

was

ht

52

བྷཱཝཱ༎

וחו

The New York-Paris

ini made

6 nin minutes minutes, then the previous record set up

other Boeing 707 by November 10 The plane cutried 100

f1 average pussingers. speed, with a tall wind of 45 miles an hour, was 507 miles per hour-France-Presse,

An unexpected feature of the American Ship's

recession was that affected

Maited

merchandise States

exports more severely than tm-Nuclear

port trade.

Reactor

The Commerce Department THE development of stallaties today disclosed that

Good morning, gentlemen. I come from the Inlated Reventow.

the shipping weight of United States merchandise imports by dry cargo vessels and tankers In June 1958 was 31,625,100,000 pounds.

This compares

pounds

23,080,200,000

February 1058, and ย

widt

1957

boiling water reactor system which may be an im- toward porrant advance making atomic-poworod ships compatitive with convcn- tional vessels is announced in the United States.

The announcement was con. tuined in a report to the second nuclear ship symposium spon- sored by the Maritime Adminis- and Atomic Encry

tration

Commission

The new 22,000-shaft horse- power system is sald to cost 40

less than the per cent

fres.

surised water reactor plant. which being installed in the Savannah, the world's first

the between trade relations six-nation Common Market ́ lo which they belong and the rest of the world.

Fur

The sellervent would call a multilateral Basociation

Market between the Common and the 11 other members of the Organisation for European Economic Co-operation, (OEEC).

Modus Vivondi Moreover, both nations hope

to reach a modus vivendi with the big General Agreement on Tariffs and Trade (GATT) by extending to all GATT bers the 10 per cent tariff re-

which duction

takes efect when

Lite

me-

Common sturis on January sources sald.

1.

Markut French

Market

The talks were regarded as a bridge between the Common chairman and the six- con- nation Foreign Ministers' ference which opens on Decem- ber 3 in Brussels.

were

CHATTER

ON WALL

STREET

New York, Nov. 26.

STOCK

EXCHANGE Gains In New York

Our Own Conrespondent

Business done on the Hung-

New York, Nov. 26.

Stocks today registered their best advance in exactly one year. The gain eclipsed anything since November 27, 1957, the recovery move-

ment after President Eisenhower's cerebral occlusion.

hong Stock Exchatige this indra- ng amounted to approximately 200.000. Nooh quotations and the morning's transactions were:

The rise started at the open- {C# [11] Co.

Cat. Tractor Shares Buyers Bellers

Ing, gathered momentum of "a Bale A

Dejezvese` Odp. lato ticker" Yorˇa "ume in the 2, T. T. Fatancial Corp. BANKS HK Bank

early dealings crossed those of yesterday. INSURANCES Union

SKIPPING Wheelock

DOCKS, EN Duckt Provident..

LAND, FRC AK tel HK Land

740

701% 721%

635

2000 6 5,80 400 $.33

44

10 00

2120 21.30 145 31

30 301

400 30 23 400 0 30

re

Chase, Machat. Bank

Chrysler Motors

Quell Peabody

Colgate-Palmolive Co

With prices up two to tour points In the main list Ola i Godambien Carbon Co. market regained one-third of Commonwealth Eles.

lossca of the previous thred pcasions.

time just before closing For mfid profit-taking reduced The advance in some issues. The

nervous

'shorts bdgar' tovéřính

Comriersial Credi

Continents Edison

O et Del. Crown Zellerbäck'... caban Amer. Sugar Diamond Aŋull

gi Azeratt

Diamond Match Co.

|

Bow Chemicala

Kastem Airline

and the market closed on Dupont de Nemours burst of strength with Hekers running behind,

Upturn

Steels, alls, metals, chemicals rulls and special issues out

stood

Enstnar Kodak

Paso National Gar Family Finance Corp. Firestone Tyre & Rubber Ford Motor

General Dynaarles Gener Electric General Foody.

General Motors Gen Pub. Uu Gen. Tyre & Rubber

Oct: O! - ftern

209

1440

14

Berly RUBBER Amalg Trust

1351375

1.825 1.075

2.08 2.10 (2013 or 2.05

3000 2073

2.03

UTILITIES

Yawmat!

Electric

Light X

2345 20.70 10.30 15 40 24.20 24.40

TELUS1

13 13 20

1500 ₪ 10.30 30024 20 300 # 21.40 99 24.30

3770 13

264 21 20

45 70

upturi.

Gulf Oll

703 7 13 2014 705

Homestake

more

Heyden wiring Co.

Corp

40%

24"

23

206

Ingersoll-Rand

1E3

de-

O

121 12.70 13.40

1100 500

43882

12,00

We believe that an oppor-♬ Tawah.. 2.4726

Lunity has now been pro- Simula vided whereby stocks may again be accumulated at least for a temporary rally. Then agalu, we would not be inclined disturb holdings of stocks Ti which are held in port- | UIDUSTRIALS for income and STORES, ETC. folios

Van long-term gains

Alstyne, Noel & Co.

to

Cement

Dairy

V: ton

1. Craw

MISCELLANEOUS

Ch. En... in to INVESTMENTS

In int

A

All

4,03

F2

BK & FE

Invent

No hard and fast decisions Spiegel, inc. has been high- were taken because that is up by successful in upgrading 11s to the six. But several steps, operations and streamlining its

Earnings

dri wro some provisional, others per business.

upturn with nut envisioned. | pronounced manent, Among the permanent was the expected to equal

exceed suggestion that Hallstein's Com- 2.50 n share this year and even

results non Market committer become better

seem likely in a go-between in between the six and the 11 | International Telephone remains

O.E.E.C.

other France-Presse.

10

Electronics Issues' starred with Texas instrument up five points at its best. Autos Join- ed the upturn as "production Goodger 19. F. Co totals mounted. Losers were Grumman Aircraft

Goodyear Tyre dimeult to and in the sweeping

Hallroad Issues gained

24.78 than half their threis-day cline. Industrials 150 about one-third and utilities

negotiations 1950. Long-term outlook for Exchange Rates

members.

BUYING

SPREE IN

LONDON

London, Nov. 26.

atomic-ixwered merchant vessel. The stock market turned

extremely promising and there is a good chance there may be arise in the current 1.80 annual dividend rate-Reynolds & Co.

Estimates

Boeing Airplane 1958 net estimated at 9.00 and 1959 at 5.75 a share, against Bitu in 1957; Lockheed 5.75 for 1958,

against

5.52; 7.50 for 1959, North American Aviation 3.34

and for 1958 already reported

3.25 In 1959 against dip to 4.22 in 1057 Shearson, Hammill & Co.

but

potential

Bify

Into

Thompson-Ramo 1959 act may down from the 3.20 of 1857 Jong puli company's around smartly today as

teams highly attrac- bargain-hunters went on Live -Hayden, Stone & Co.

Carnation, leading evaporated a buying spree following yesterday's big shake-out milk producer, plans to diver- the drug industry Long-dated gilt-edged socuri. ties Improved, but short-dated sew product "Saffuc," to bonds tended to case.

control the level of Cholesterol in the body. Goodyear has be- gun production of a new plastic developed

the to improve quality of numerous products from cheese spreads to insec Licides-Harris, Upham & Co

The system is said to pluce tonomic performance cap- ability of a nuclear ship within 10 per cent of that of con- ventional ship' and' could, it lɔ Hitle further claimed, with development, bring it to with

A tanker propelled 5 per cent. by the boiling water renefor, 11

Strength Wis particularly is sinted, could have 8 per cent evident in the Industrial sec-

cargo currying capacity tion. Among the standout Issue than a tanker of computable

Tube Inves1- Vickers, were size employing steam propul-ments, Britten Motor, Bowaters, Erilish American Tobacco, Coutaulds and electricals,

more

monthly average of 28,714,400 ton.

pounds. February is, of course,

short calendar month.

of the United States mer-

chandise imports in June 1958,

U.P.I.

Canada Meets

Bank and Insurance stocks were dull.

3.739,600,000 pounds arrived in New Challenge

United States flag vessels und

the remainder in foreign-flag

Dollar stocks rallied after a weak opening. Japanese liens

quiet declined In generally foreign bond market.

Oils

0

Gold stocks were mixed.

with

up many

ships. The monthly average in THE great "white lands" improved THER

1957 was 4,818,400,000 poundly

on United States vessels.--U.P.L.

Dredgers To

Suez Canal

of Canada are being shilling or more at the close-

opened up by a floot of long-

range ice-broakeri.

Widen icopters

More vessels, equipped with and fading-craft, will be ready la juin the fleet next year.

for The man responsible "Operation feebreak," Mr Alec Watson, who is on I visit to talked of develop- dredger Britain, New Jersey has roached ments in the Canadian Arctic.

THE 1.800-ton

Port Said to widen and NEW CENTRES

deepen the Suez Canal

to

to pass through, against the prosent maximum of 34 feet.

Two arrive soon.

other dredgers will

U.P.I.

Singapore Stocks

Dualness Etficted

was done exchange

Steel Co

retraced sterchemical Corp.

InternUbnal Nickel...

int'l Business Machines

more than 10 per cent. The international Paper general averago came back one- third

Iact Toi & Tel ̈R!..

John-Manville Co.

of the setback of three & Luke

selling days.

Of a total 1227 issues traded 920 were higher, 140 lower.

New York Stock Exchange volume was 4,000,000 shares.

New York Stock Exchange bond volume was $5,760,000,

American Stook Exchange volume was 1,770,000 shares.

Dow-Jones closing

In the Jocal

this market

were:

averages

INTRE Coper Kenherst

Liggett Meyers Tub. Co. Lockheed Aircraft Les Incorp.

Lonestar Cemeșii Co.

Lowenstein & Sons. McDermott J. Bay MeDantell Anerali (Am

Stock Ebrare.

Merabi Iron Corp. Minnesota Mining Mirators Development Monsanto Chemical Co. Montgomery Ward

149,13 Mutocols the 159.74

moming at the following rates: US dollar (per $11 Sterling mates (per 1 Australian notes (per £15 hstonesian rupiah (per 100) Sam ticals (per 100) Slegapore (Straits

1.772 industrial 20 rall

12.70

13 80 15 utulien

63 stocks

0.00

40 bonde

20.70

14

1.00

Coman. future price index

153.47

"I think I ought to warn you, Wilpinson. the chairman holds very strong vietos about clock

watchers

London Express Service

COMMODITY

FORLICA EXCHANGE

NEW YORK

Closing rates were: Candalin.

the England

Eigh Swizerland Argentina

Opening

13.07

49/-

2-

Brazil

Truguay

Singapore, Nov. 27. Brokers today quoted following stock prices: Datu Lintang Rubber Co. Mr Watson, director of Ship

Eid Petroleum allow ships drawing 37 foot Construction and Supply, De-British Borneo

Syndicate

Smelters partment of Transport, Ottawa, Conseildetek

Ord said: "By far the largest part of

Front & Neave Ltd. Ord, $1,02 the Canadian Aretie in necha-

Fraser Neave T cum.

$4,13 cl sible to teebreakers in season,"

pres

tiaras Limited $1,7 Gammons Aircraft can open up new Hongkong

Shanghai

$305 centres, but it is the icebreaker "Banking Corp. The work, being undertaken in that must make way for the Hongkong Tin Lid three American companies will}

tor Kumpas Ltd.

Kuala Kamper To oost £7.3 million, of which 70 bulk of supplies in the

Ainay Ribber Estates Lid. 90.80 $2.00 per cent is payable in dollar North, Mr Watson explained.

Canada is building her own Malayan Breweries Operations will take 14 months.

icebreakers but much of their New Berendah Rubber Co. equipment is from Britain,

"Wo are trying to meet the great challenge of the North," "What we said Mr Watson.

bearing on national defence."

The American companies con- cerned are the Standard Dreilg ing Corporation, Allentle Gulf and Pacific Company and the Hawaiian Dredging and Con- aro doing has an important United Engineers Ord.

struction Company.

Feloling in Ltd.

Mfies Hotel Singapore Cold Storage... Straits Tracing

Steatralp

Wetrnie' BroRNALLENGE

$1500

CM) petal,

Other unchanged,

Blankel crepe....

Ru, 1 pale crepe pur

LONDON

75-77

30-015

The rubber market was very

with steady

spot quoted at 20-9/10 pence per lb. Prices; No. 1 Ass spot ........... 235–2976

Settlement house termu

............

General markets, cif basin, ports:

Deo, & Jan.

Estato crepe this Dec.

Det.

Fati.

April/June

July/Sept.

1,009

unquoted

10000

Ertato crepe thick Jan.

дотз

Dorto

2 лоть 2,71 6/16-3411 7/10 10.0711-30.0

11.009-

1745-17662

20.00-20.21

12.233-1254

LONDON

Closing rates were:

New York

Montreal Amsterdamn Copenh Frankfurt Milan Oslo

Zurich

Others Antyod...-U PI, ·

RUBBER

NEW YORK

Rex rubber futures today

clasect up 40 to 50 points with

sales of 101 contracts.

Closing prices;

Closing Prices

National Bull Co

14.13 Nationdi Cosh Rea. "A" 191.02 National Dairy Prod.

40

National Lead...

[tationci Steel Corp.

New York

Norfolk & with Ry

North Amen Aviatic

North-west Airlines (Com | Otin Machteson

Os Elevatory

New York Cotton Market

New York, Nov. 20.

futures Cotton

Jeday onerated on a defensive live as traders evened-up for the holiday tomorrow and made adjustments in the spot December de- livery.

a

Nearby months closed on note of weakness, with the gen- eral list unchanged to off 18 points. The market opened up seven to off to points New Orleans closed off two to 19 points.

Corn farmers rejection of bigh price supports and production controls in yesterdɛy's referon- duan attracted some hedging. Sellers thought the vote weak- ened the argument for continued 7811 controls In cotton. Cottoù farmers will vote December 15 on controls for next year,

EDLE

36

34

двой

214

Delivery

were

Three delivery notices issued today against the Decem- ber contract. Liquidation there was taken up by spot interests against salca of March and May, presumably to transfer hedged forward.

The net open Interest in De- cember today Totalled 24,300 bales. The certificated stock 42, rose to 10,000 bates, the highest

in three years.

3A

Liverpool futures

Alden Inc. Acy.

12311

Allied Cheunicođa

Allied Ms Inc.

301

Owen-ilots Class

D

Allie Chodraced

271

Uxtent Pepor Co.

Am. Brake Shoe

Pacifle Gas & Elec.

American Airline

Pan American Airwayn

American Ohje & Barito Compa.

872

PATAMOLAS Pretutes

48

20 to

Ainerican Cynard Co.

1333 | Parke Panda Ca

680 to

Amer. & Foren. Power

105

Penny . C. Co.

inda,

1:20

Am. Gas & Electric

Ain. Home Prod

Arn. Mocht, de Madry, Atherican Metal".". American Smalting America Tol & Mi Americon Tob. "" Anteonda Coppe farhod "stde!! Author

Atlas Cosa. Mining Baldwin-Luma-Kam Bastimore & Ohio Benefici Finece Benini Avtaturi Coup. Berguet Con

Bethlehem Steel Boeing Airplane

Borden (The) Co.

Burroughs Add Machina CIRIT." PACKIE Corp. Campbell Soup Co.

PRICES

serabelinis n

fut pumba A

Fenn, Fall Con

Pip Morris

Procter & Gamble Co Pittsburgh Plote. Chans Fublicker Industrier Pure bil Badlo Corporation Bretig Gopi Pref. Пepuho Stee)

1 Reynolds Metal

Sears, Roebuck & Co.

4 Bring Reg. Paper

83

14

4

at 14 designated spot markets was 34.74 cents.

Total sales were 78,195 bales. -U.P.I.

SUGAR

New York, Nov. 20. World No. 4 sugar futures clos. ed today one to three points higher with sales of 100 con tracts,

Domestic No. 6 sugar futures closed two to four pointa higher with sales of 70 contracts.

Contract No. 4 ́ (world)

Selest Oil

Secony Mobil ou

Botar. Alferaft 2.

South Puerto Rico Bugar Southern C

(The)

Southern Natiorial Cas

Southern Ballway (Cms.)

Standard Brands....

Standard 11 of Cal

Standard D1 of Ind

Standard Oil of NJ.

Bleep Rock (Toronto Exge.) Sterling Drug Co.

Sjokėlý Vah__Camp. Studebaker Packard Corp.

Sunshine Mining

Swift & Co.

Texas Co.

Textron Inc.

Tide: Water Ason. Oll

Time In UNGA

Tri-Cont. Warrants

Twentieth Century Fox Film

Union Carulde.

Union Oll of Cal

Union Pacific Haitway

United Airérafi

United Gal Corp.

U.S. Foll

U.S. Gypsum

US. Line Lo.

U.S, Rubber

VS. Smelior

ÚA, Stori

U.S. Steel 7 F.C. FF. Warner Bros. Westing our Air Brake Westinghouse Electric Western Union Tel." Co. West Va. Pulp & Paper Woolworth

74

closed off

30 Englth points and 013 American polits under New York futures,

Raw cotton exports today totalled 6,887 bales Uringing total shipments to 954,847 pales 201 against 1,633,727 bales exports in the sario period last year, arcording to the New York Cotton Exchange-U.FT.

Chicago Grain

Prices

Chicago, Nov. 20.

Brokers lett grain futures pried slumping week to 'steady

te for Thanksgiving ove on the

Board of Trade.

Liquidation settled in the pils

9

043

103:

231

67)

エアキュ

gra

dropped

ים

and led the decline in every

December wheat

during the crop's dull trods,

Nearby soybeans deliveries were hit harder than deferred. Lbeat No. 2 Fed"

43

309%

Spot

1944 nom

Dec. 100H 1944(L) 10614-3

Mht.

414

July

24

Dept.

Corn, No. 2, yellow

29

Ded

Dec. New

Mar.

May

Пуе

FARM PRODUCTS

Dec.

Mar

Data

040-50

FOR PAKISTAN

Dec.

692 Yeap, No. 2, yellow

Bpot JA

214 nom.

The

cupply Pakistan

13

Mer.

Moy

July

"Spittalled here today by TADOR

dudia under "an agreement | Harley

123-150

Sept."

0.07

U.PA.

Spot-fcents per ip. it NY

Open Interest: 1,170 contracts

6.03

Langley, the U.S. Ambassador.

Minister, and Mr James "M •200 tu wack

Sholob, Pakistan's Finance New York flour

$13.1.1.

**Commodities covered by the

COTTON

NEW YORK

Jan.

Prices of cation Tutures closed today as follows

Mar

May

July

Spot

30.105 33,37

sepi

Clot

Dec.

Mst.

May

July

Dre.

Mar

NEW ORLEANS Prices of cotton futures closed today as follows:

Spot

Mer.

July

Subt (centa par ♬ fob Cube)

Open Interest: 7,175 contrasto.

Contract No. 6 (domestic)

-Karachi, Nov. 20. United States Will with $69.75 million of surplus farm pro-

Mor

The American-made Convair 880 medlem jat, which 848 have ordered for their

"Jet" flost.

Nov

Jan

Mar.

May

July

Bevt.

Nov.

AMSTERDAM

6668888

$838953

The rubber market was quiet today, Prices closed in gulfders per kilogram elf, Der. 43

fellows:

No. 1 rubber

No. a rubber

No. 3 rubr.

No. 1 rebe

LIVERPOOL

METALS

NEW YORK

گاه بر بهداد

I

today in cents per la fol- Prices of metal futures closed

11.000

11.001

10.150

10.80%

20.000

21.100

227,60%

34.00

35.82

34.DO

E1.67

31,72

May

5905

30.00

Cotton future closings,

pence per ib, wore as follows:

American Contract

lows:

Jend

Jac.

Dec/Jun

Mar/Apr.

20.10

May/June

23.70

Zinc

Jan. Deo.

Jan.

July/Aug.

ៗ! ធ

1.00 buyers

Oct/Nov

21.23

Copper

Jah.

Mixed Contract

ጌ

Dic

2.42 buyers

Dec/Jan,

22,00

JAN.

Mar/Apr.

23.30

LONDON

May/June

23.00

July/Aug.

21.00

Oct/Nov

BAO PAULA

Cotton future closing.

22

per

| ZestionUr

09 サロ

700

Copper spot.

-mintith

2243%

Lead 2nd lidle Roy,

Fr

BINGAPORE

Lower overseas advices and upequiitry1gbdafion caused

lower opening, but short cover-

ing and good lower sheet inter-cruzeirom

eal steadied the market"lowdeda follows:

to the end of the morningą.

No. 1 hubire per 15: Des 10-60%

*༄ ";"་་་ । Jan

No.

3 nutar per Jb.

No. 4 nibbar peg,b).

pol rush

10.

Mor

agreement Include wheat, riés,

For beans, cofforibord, of, and TAX HOLIDAYS'

dairy products-Eguter:-

U.S. Car Production Expected To Fall

Detroit, Nov, 20. United States paodonger car production was scheduled to fall to ut estimated 121,84 cate this week with disembly plants 17.cloned for tomorrows Thanks. giving holiday from last week's Prices of metals closed today total of 188,da?, Dow Junca in sterling per long ton as fol- spurted. Jown: kilo were at No in

78.00

70.00 inquelad $2.30- 'In

Hnited State, then and half glov Kyorage Brich'orˇting likh'cotton

FOR MORE INDUSTRIES

Kuala Lumpur, Nov. 26. Four imbre "Industrict and 12 "mote" products' dra"të be holidays" given

pioneer under Melaye's

Industry: delamo,

Tils' Uring the number of

tax free industries to 18, and produble to 05:

Plouber Industries, oro, In- "Tijs week's planned outpu

and Buyers Sellers would top the 114,731 cara dijïfries" now to Malayu,

produced in the same week that those introducing them may got 24 years Towever, this is the dry tax rellor tow-up to Ave yours.

time a week's production had The industries given ploneer risen aboyo ita comparable 1997 status today rapes from the week since October 4 when fast | production of asbesina sirenia, to year's total were held down" is | That; ot

model changeoveka,......Editos”,

condensed palik