1959-01-27 — Page 9

TRANSPORTATION

U.S. Ships Transfer

Navigation System

To British Flag

ULF Oil Corporation, of

G the United States on-

Uses Line On Tape

A

Paris, Jan. 26. BRITISH Comet I jot nounces that it intends to airliner left here today transfor seven of its oil on a test flight with a new tankers, totalling 185,000 navigation system which en- deadweight

fromables the pilot to stay on Liborian to British registry in course by merely co-ordinat- ing three radio beams with the first half of 1959.

tresses his itinerary marked on tape,

toni

The Announcement

for this negotiations Thist transfer begun wear ago and that approval of the British and

exchange Bahamas

given wa:

authorities

control

The Britisi-developed systeem, widely space around

dubbel Desea-Dectra, comprises

three

last transmitters which beem smals

At ust.

The chips will be managed by Watts WAN And Co., Lond. but will be owned by a sub- idiary compvey of Guif in the 13 shows he will therefore qualify for the tax divandager available there,

THE TRANSFER

IS

The tran for it is claimed, WBI provide a feel to help mot ilus from purtation requirement: sudicare, anul of Gulf Oils

in URS customers

eastern The company he rug here. anxious to avoid any suggestion framfer has been that $14 brought about by the recent boycott of "ags of convenience by the International Transport Work.rs' Federation.

Gult Ol, previously to these negotiations, agreed in clorter

perinat basis forte tankers

of 40.000 drudweight tem. each. which are to pe trilt by Furness Shipbuilders

Company,

Ha!

to the plane in it.

The

anal fravelling me varies acercing to their distance from

The p me their sint of ler ection gives the plane's

position,

That sosition is marked on

Meste

the top ly an Inked stylis which

as the position All the plot has to do channe is to keep the ink lh as elpe as possible to the cattrse trated on the tapes

TO EASE

The syler3

enable planes

line

is expected to fly closer lo

each other and thus vase me of the most facing the airlines.

THE CHINA MAIL, TUESDAY, JANUARY 27, 1959.

Women Fleeced In Discount War

Cut Prices HONGKONG Wide Price Movements Start Storm In The Shops

By J. P. GALLAGHER

London, Jan. 26, THOUSANDS of housewives throughout Britain are paying more in shops than they should for almost all kinds of goods, because of heavy price cuts being allowed to the new privileged class of discount buyers.

Big retail firms and trade associations said they are alarmed at the swift growth in the numbers of Civil Servants, local government officials, BBC staff, trade unionists, and many others being allowed discount in shops.

Under the greatest svercev. soketed shop; are cutting prices Dy from 2 to 50 per cent for flavoured customers who ne werned to be "dberevf" and who "membership" end produce a

verd before being served.

So Worried

arc

Su serious problems

worried

shop- world's (crowded | keepers who are losing sales

sorrying a normal profit mar Britain phone to submit the rin, that a thorough Inquiry k bir sanisa- | being Weld through the 110,000 system to world

up-to-date | meraiers of the shoppers' re- the avoit But it also het rumpetition | rearch organisation, Consumers' front the An erlern Vor-Tas na Assertation Lid, svaten welverly

Trans

Have: Mig. The company New Atlantic Treaty Org.ni a- Flans to penate there vessels | in air cirers, tists under the British flag when they are delivered in 1960 and 1961.

Tanker Built lo

Five Months

TH

15,300-ton

Neither system is expected to

be avalied worktimide yet. be-

PEN

Patla Today's test

!

For a molt af fer it pro- vide: skeppeve with frank re- parts en vines and other things,

Humans of reports are cum- dight wis mean vach week fisting shops, wer Britain and Ireland in a goods provided, and discount:

jellier provided by the 15 Supply, -ance-

Ministry

| Presse.

tanker Lufthansa And

El Lobo, built in tho

record time of five months JAL Agreement

at

the Wallsend-on-Tync

yard of Swan, Hunter and Wigham

being offeres.

Among the

ol

Liggest, oldest, privileged shopper, group in the 142,000-strong Civi Service Clerical Association.

Members

told 10 Civil Servants are

that dis their guide booklet

on conditio counts are given that sales are kept strictly confidential,"

STOCK EXCHANGE

Business done on the Hong- kotul Stock Exchange this morning amounted to up- $300,000. Noon

proximately

quotations and the morning's

transactions were:

Chates Buyers Sellera Bxico HANKS

1010 Bank INSURANCES Union. SUPTING Wat:rboat Wheelock DOCKS, ETC. K. Whit

#Reci

Provident,

(0)

Tik tule!

Really.... RUBBER Anial

* 12

2017

610

5.50 0.00

413%

פת

лого ета

On New York Market

New York, Jan. 26.

Wide price movements in a few issues featuring an irregu-

larly active stock market today.

Eastman Kod et it. was off five points. Richfeld Oll leat six at its extreme low. Westinghouse

three.

Electric

Prices were hardest hit in the Earller the 14th lafe trading.

In Burine

Machiura

Int'l Harvester International Nickel

Sears, Roebuck & Co...

low

Hayden Newport Camp Hestake aiming Co. Idaho Power* Ingersoll Rand... ..... Inland Steel Co.

47

Shell Oil Co.

47

Safeway

Storen ...

994

Sniot leg. Paper

1431

Scott Papry

Int:rchemical Colp, men

71

Sinclair O

12

Meth, Cline & French

гл

Sucony Mobil Oil

Int'l Tet & Tel

417

Solar Alreraft...

BT

South Puerto Rico Sugar

Rennecout Copper

104

Southern Co. (The)

Kimberly Clark

Litgelt Steyer Tat, do

20

50% 13

LAM

had shown П majority of advances.

A majority of shares appear-

Kalege butostry

ed to invour the upside how-Lockheed Alterati...

ever. The putos held in a narrow rut beset by diverse re- part on nutammable production 45 which fund Ford boosting its 45 output, Buick cutting back, and Chizzler still bogged down by a 45 strike which was eating off its

supply of glars.

12

Good Showing 10323.40

J 2012

100 1

LAND ETC.

10 12.0 2100

53.70 23 HK Land 301 64.73 Humphrey 15.00

11.585

1.03 1.00 3000

10.75

see

105 210 25 Sulgala 2.433 2.65

Tra

They are warned not to dis- ay membership cards in shops where other buyers might them.

And for all this discreet bug- my the housewives are paying. Shopkzepers who give geherous discounts to force sales must ecoup themselves by changing to unsuspecting C95-

130 Homer.

3. W. Stevenson, general The National erotary Chamber of Trade. which has warned its 390,040 members aut to give disentants, anid:

Unfair

The whole system le fals at the ordinary shopper pays

it.

"No intelligent woman would shop at rome of these places, if the compared their prices,

The practice died down, or right out, during the war, bal now it is growing everywhere- though the best retailers will not allow it. Why should CIN and Servants, rallwaymen, other buy at less than you and I can?

The

"C.S.C.A. Shopping |Galle," leavily marked "For New York, Jan 28. Ambers only, as more than 700 rms throughout Britali Lines annonated JAPAN AI has Richardson,

today an agreement hading discounts on household been launched for Lobitos

neus, cameras, radio and TV been tenched [or Lufthansa Oilfields Limited of London.

tancy goods, furniture. Gerinan Airlines as JAL's genet

"Many unions, which don' She is expected to carry oil oral sales agency in Germany. earpets, tools, clothes, motering!

offer much else, go in for this equipment, of 11 ir-accessories, sports

business to boost membership." between Poru and Britain.

and a host of other things.

tiiscount Some

firmy deny Hairdressers, eaterers, dance they mark up prices to cover teachers, jewellers, and opti-under-counter rebates. beim all offer "a bit off."

Lufthansa is one

coun-

Brux appointed as its gentral Lolitos Olfelds Limited ul rested for delivery to be bronight sales agents in furcler faryzard from the second half tries which JAL does not fer-

There | vive at present. of 1981 May, 1950.

to suppose was every reason that this date wilt be met. and a spokesman for the com- pany

The spokesman commented that the great sums of money which the British shipbuilding industry as a whole, hind spent on modernising works and techniques were now showing progressively encouraging results and should prove to be an advantage of tire Industry.

In July Swan. Hunter and Wigham Richardson Limited! launched the 33,000-tom: tanker Varierila only seven months

after her keel bad been fald. She Was built for Shell Tankers.

Rolls-Royce Conway Approved By Board

THE Air Registration Board

of Great

JAL. is negotiating for simi- lar arrangements for Italy and for Switzerland. - China Malf Speciol.

Yesterday's Closing

گرام

In

Some schools. motoring offer a 5 to 10 per cent cut tallion fees.

Said the spokesman of one: "We gler disenunts because it's a regular trade and will one. We don't increase other prices -though some might."

COMMODITY PRICES

TORLIGN

CHANGE

NEW YORK Closing rate; were: Foglarki oflleta

tell 20-days

Anti

-C

New Zealand

Others unchanged.

Britain has South Atura granted a full Certificate of y Airworthiness to the Rolls. Royce Conway R.Co. 10, Mk.505, by-pass turbo-jot for use in civil aircraft.

The Conway R. Co. 10 has a

LONDON

Closing rates were:

New York Montreal Ansterdim

guaranteed minimum dry thrust Brusand

of 10,500 lb but the Certificate Copenhagen

of Airworthiness

has been Franklin

granted at a minimum roling of

Milan

17,000 lb thrust. This is the Park highest thrust yet certified for a Stockhola etmmercial engine.

2urch

* 60-15/1

الا

2.00-13/16

INO-29 16

7.21

2017,

*.811

.100

2.-15/16-2.31-17:0

2.77-31/10-2,71-13/14

40.5871-20.500, 340,4119-140.47%

10.367,-19.26! 11.72-41.73%

1743-1745 20023%-20.02?* 13.773-14.037 14529-14.5315

12.111.11%

will shertly be Other unchanged.-U...

Application

made to the Air Registration

Board for certification of a

Rolls-Royce Cenway at

R. Co. iz rating of 17,500

the H

guaranteed mlalmum thrust.

SEVENTY

Seventy altliners powered by | Rolls-Royce Conways have been

COTTON

NEW YORK

Prices of cotton futures closed

onicred by world airlines. todny as follows: Trans-Canada

Air Lines and

Atalia have chosen Conways for their Douglas DC-6's. British Overseas Airways Corpornfien, Air Indin Inter- Lufthan national and Varig of Brazil have spielfled Conways for their Boeing 707-420's. The dirty- five Vickers VC-10's on order for Airways the British Overseps

Spot Mar My July

Oct.

*JAJ

Mar

May

JU

33.70

35.00

American Contract

Mar/April

May/June

July/Aug

CU/Nov.

Dec/Jan.

Mixed Contract

Mar/Aurit

21.20

May/June

22.50

21.15

20 10

11:0

July/A

Ori/Nov.

Dec/Jan.

SAO PAULO

All prices unquoted.

In the United States, the average price of one-incù colfon

at 14 designated spot markets was 34.32 cents.

To sales were 40,001 bales. -U.P.J.

RUBBER

NEW YORK

Rex rubber Iatures today closed unchanged to five pelnis higher withi sales of slx contracts.

Closing prices were:

Jan: 30:25 Mar: 1959; May: 30.09; July: 3040; Sept: 20.3; Nov: 30.ZU: Jan 30 10.

LONDON

The rubber market was dull with spot quoted at 25-3/10 pence per . Prices:

April/Julle

July/Sept

SUGAR.

World

NEW YORK

futures

No..4 sugar

une lower to one

closed today

point higher with sales of 112

contracts.

Domestic No. 0 sugar fulurer closed unchanged to one point lower with sales of 65 contracts.

Afar

May

July

Sept.

Oct.

Contrast No. 4 (world)

3.23

A. Tah

Star Ferry Taumati..

Low Incorp

Line Star Cement Co.

wenstein & Seos. Dermott J. Kas

Bieloru

Aferati Stock Exc.)... Mersi tram Corji,

arbinerata Mantra

Mesion Development Mouranto Chensical Ch Montgomiriy Ward Motorola Ime Notional Rheint Co. National Cash Reg. "A National Hairy Prod. National Lead

THO oils presented good showing for thebul turard irregular later when Richfield | Ney. York Central

National Steel Corp.

G000 10,75 plunged six points on declara- Norfolk & Western By

tion of only the usual dividend i Borth Amer. Arfa wb. n something

had Better been anticipated.

20.60 20.00 1000 20.50

North-wet Arthr Cha Bluthiesota.

Elevators Owen-line Glars Oxfont Paper Co.

fe Cas & Flee

American Airways Parament Pictures

Parke Davis Co..

Penny J. Cc co Penn. Salt La

Leading steels moved narrow-1 GRO 20.00 ly but the specialty issues rose 500 es 20.30 substantially for a time. J. C. Penney wared more than Ave points on split hopes and Rey 30.40

nolds

Tobacco "" ran up on 15000 16,40

10.40 a 10-for-ofte split proposal.

American CO 16,40

Airlines, Detroit Pilly Morrie Steel, Bethlehem, Royal Dutch,cter & Gamble Co. Pittsburgh Plate Glass and American | Publicker Industrien Mosil 100 5.60 Socony

Motors were among the active Pure Oil....... lenders and ull higher except

109

AJ L C. Light

(0) ..... 1040 16:

Pleciste.

(0) 23 23.

INI 23 21

200

$5.00

Maiao E INDUSTRIATA demint

ONES. FIC.

Teitt

Watron!

16 101

13.40

400 27 1000 M

COSTONS

Nanyang

4.70

Vibro

1520

INVESTMENTS

Allel

H.K...

MISCELLANEOUS

levest

25.30

"Be careful how you speak to me, girl-I've got a

3d. optian

23.

store 1"

on

London Express Servi

American Motors which con- tinued to meet profi-taking.

New York Exchange bond 1030 volume was $7,050,000.

1840

this

American Stack: Exchange volume was 2,390,000 shares.

Exchange New York Stock volume was 3,080,000 shares.

Of the 1264 issues traded, 010 1.40 declined, 414 advaneri.

Depressed

Outlook

In London

London, Jan. 26.

A number of political and

economic

helped

uncertainties

to depress stock market today.

the

The belief in some tireles that the Labour Party may win the national election, It one is this year, dampened 327 market sentiment.

May

Spol-(cents per lb. tub Cubsi

Open interest: 112 contracts.

Contract No. 0 (domestic)

Mar.

5.00

May

Judg

9.50

Ney!

Mev.

of poor earnings A number reports and the dim outlook for British shipbuilding also played role in the market's luck-lustre performance.

LABOURING

5.73 (911), 6ecurities, labour- 5.71ng under the additional strain 5.cf proposed new bond offerings, Open Interest; 2,022 contreets-lest up to 12/80, v.1

Spot (cents par ib. elf NY'

Sa-duty

METALS

NEW YORK

Prices of metal futures closed

cents per lb.

No. Its pol

Settlement houze term:

2011-211%

33.22-54

Feb Mar

34.73

24-2384 2016-234 ZJEL-ABER

today follows:

37.41

Load Jan

Oct/Dee

32,12

Jar/Mar

2321-2515

Leuusted

Mar

Zinc

Jah DIAL

31.07

Jon

Feb

32.10

NEW ORLEANS Prices of cotton futures closed. Corporation will sko be Conway totoy as follows:

ut

Hof-Royce Conway engines for both Boeing

Spot

powered.

Mar.

Deliveries

707-420 and Douglas DC-8

Mary July. Cel.

airliners analysis of the Conways o5 for leated shows that

have started.

An

Dec.

Mar. May

General markets, ell besin, portr

2 burer

SINGAPORE

Copper Jan

Tin

Mar

Jan

Mar

LONDON

The market war down at the [opening in sympathy with over- [sens advlees and ruléd quiet at

lower level. Lower grades In In small deinand but offers senrce. follows:

No. 1 rubber per tb. Feh. Déja-2015

Dollur stocks were

mixed.

Dow-Jones

were:

30 Industriais

20 ralls

15 litra

storki

40 bonds

closing averagea

We index

Comin. Juture pilce

Closing Prices

Alden Inc. Acy, Allied Casinicala Allied Mulia Ine.

All Cheaters

Am. Brake Sice Americas Altlae Amorlean Cable & Radio

Corp

American Cyanamid Co. Alter. & Foren. Power A. Gae & Wette Am. Mach. & F'dry. American Metal American Surm Am. Sugar itet. American Tel Amrican Tod. Anaconda Copper Armes Steel Artpour

TEL

Guns Mining

An-Fine.

Baltimore & Ol Bensheal Finance Bendix Aviation Corp. Benguet Co. Bethlehem Steel Beeing Airplane Borden They Co.

Burroughs Add Machte Calit. Packim: Corp. Cempbell Soup Co. Canadian Pacine R. Case 13. Co.

Cat. Tractor

Celanese Corp.

C. 1. T. Financial Corp. Chate Mathat. Bank Chryser Motora Clarett Peabody Colgate-Palmalive Co Colemblar Carbon Co. Commercial Credit Commonwealth Elec. Consolidated Edire Continental Oil of Del. Crown Zeleziach Cuban Amer. Sugar Dan Gard Douglas Atreraft Dow Chemicals

Eastern Airline

El Pare National Cas Family Finance Corp. Firestone Tyre & Rubber Firt Nat City Bank Ford Motor General Dynamyles General Electrie General d General Motors Gen. Pub. L. Gen. Tv & ftulber Cotiv Oll

Glidden Co.

Goodrich B. F. C. Goodyear Tyro

armine Alreraft Gulf O

antimond Organ

10607 01.04

143.07

tadio Corporation

Republle Steel

Reynolds Metal

*

*

P

+15%

Southern National Gan

Southern Railway (Com)

tendar Branda

Stanbrt 08 at Call

Sundant Of of ind

Standard Ott of N.J.

Step Rock Toronto Exge.) Stering Drug Co

fteltely-Van Canap. Muuchaker-Packard Comp

Sening Mining

Swift Cu.

Texas Co.

Textron Inc.

Tightcl Chem.

Tate Water A. O

Tizene

Tri-Cont. Wananla

Twentieth Century Fox Fem

Helen Carbite

72

471

Da

Union Oil of Chi

Re

Valon Pandle allyny

4113

Maned Alteraft

United Fault

473%

United Gas Corp.

G3

.S. Fol"}}"

HS. Gypsum

5. Line Co.

G2J

S. Rubber

201

1.8. Smelting

9.8. Steel....

3

107

70

14

431%

497

731%

Sleet T P.C, PP

Warner Bros.

Waukesha Mators

Westinghouse Air Brake

Westinghouse Electric Western Union Tri. Ca. West Vo. Pulp & l'aper Winn-Dixle Stores

Woolworth (26. W.) Zenita Radiu

-UP.I.

PO B•IE&A

*

COMPANIES

~~PASSENCER/freight servICE

PENINSULAR & ORIENTAL S.N. CO.

3 241

Bulwards

Industrial stocks generally lost Tin Agreement

Coul fractions. Gold Blocks opened Arm but turned lower later on some Parts willing.

Coppers med mid rubbers vere mixed,

Oils did little with the excep- tion of a gain in Shell-UP.I

དམ་པ་་ ་

Exchange Rates ́

“KARMALA”

"CORFU" "BOBALF" "SALSETTE” "CARTHAGE"

"SUNDA"

Homewardı +"OHUSAN" "CORFU" "CARTHAGE" "CANTON" "INMALAYA" "CORFU"

Teaven U.K.

Salled 19/12 Salled 10/1 Sailed 0/1 2th January

6th February 8th February

Due Hongkong

3rd February

9th FebruaTY 13th February 14th March

March

20th March

4th March 16th March

Leaves lisDgkong Duo London

2nd February 14th February 13th March 18th April! 30th Norli

BUL May

13th April 17th May *8th May

8th June

Via Sport, Fenass, Colombo, Bombay, Aden & Pt. Gald

• "PENIM" extends to Hamburg, Rotterdam & Antwerp

and proceeds vin Ades & Genoa only.

↑ "OBUSAN" also calls at Naples, Marcsilien & Vibralter.

BRITISH INDIA S.N. CO., LTD.

"BANGOLA"

"SANGOLA"

"ORNA"

due 31st Jan. Vom Calcutta, Rangoon

& Strafta *31 1st Feb. for Japan

due 18th Feb. from Japta all 10th Feb, for Singapore. Pedang,

nandoon & Callia

P. & O./B. I. JOINT SERVICE

“OTHLA”

"OZARDA"

"OINA"

ብነ

*

"NELLORE"

London. Jan. 26. AB "understanding" Russlan exports of tin for this year has been reached between trade delegation the Soviet hare and the Intornational Tin Council, it was announced tv- night.

Russia, which is cutside the international agreement,

hna

undertaken to limit hor exports

in non-Communist countries t 13,380 tons.-Reuter,

09

10.746

10.48

<

NutsJunna

this

0.15.

Australian nator iper

1) ...

12.04

}

Sterling Rate

*J

was dona in the local nelal exchange market utal at the following rates:-*__ pattu 18. dollars (per $1} 98,006

20.4219

ገን

Prices of metals closed today

long tan sterling per

Buyers Sellers

21.00

25.09

25.20

34.17

31.37

33.20

2010

Antw

Mac. Boji-MY'S No. 2 rubber per 1. Vél. B412-85

T

31.90

No. 3

No. 4

LIVERPOOL

PrAtth 1-804

3-month 8-Ball Land 2nd hair Jan

763

704

702%

70%

Copper apat

ERT

71

future closings, in Colton pence per I. were as follows:

anket crepe.....

No. 1 pate crepe...

anji-na Zine Žud Bit Apr

62-0315 Ele and finit Jan

13%

--U.P.I.

July the cengineh we meeting all the perfermazco 140 16 nsid ΠΤΩ lighter ko the weight guanteed to the customst,

Spot rubber unboled ver DURING Lead and half Apr

Bierling notes iper 4).

Indonesian rupiali (per 100)

la cals (per 100

gapore (Straits)

020

20.70

1:02

of International

New York, Jun. 20. Frantz Pick, anolod analydt money trends, sald tonight the recent slight Inies ngaltist the dollar reflects two thing: The move to externel canvoril- bility and flight of capital United States to Swiss France; Maximum Sell from the |ing 745.

Western Europe.--UP.I.

Agreed Merchant rise in sterling

Rates

*

*

dae Bik Feb. from Kandia, Bombay.

Cochin & Bingapore Kalle 6th Feb. tar Japa

duo 11th Feb, from Karachi,· Bombay

Coobin & Tuticorin salla Ith Feb. for Japan

Dae 18th Feb, from Japan salle 16th Feb.

for Singapore, Poliang,

Bombay ch

Jubal

Bara

& Khorramshahr

dee 10th Mar. from Japan anila 11th Mar. For Singapore, Penang.

Corbin, Bombay, Karn-

lat reb.

chi, Huidt, 13marah A Knorrænetaŭr

"

EASTERN & AUSTRALIAN S.S. CO., LTD.

Iunds 30th JOTE. BARI

for Labuan, Sandakan, Krisbane, Bydney, Mal bourne & Adelaide

due di Tab. from Japan

Tth Fab,

for Bandakan, Brisband, Bydney, Nowosso & Melbourne

At verols havs Uberty to call as any poris ut

or off the route à the route & salinga aro subject to change or amendment with or without notice.

"NANKIN"

For full particulars apply to a

MACKINNON, MACKENZIE '& CO. OF HONG KONG LTD. Telephone Nos: 27721-4.

3

*

*

*