FIT AMERICAN SETS
OFF ROW OVER NEW BRITISH JETS
By PETER WOON
London.
BRITAIN'S giant jet, the 150-seater Vickers
THE CHINA MAIL, TUESDAY, FRDRUARY 17, 1959.
CITY LIGHTS
Why Wall Street Is S Watching Stocks Advance
Britain
New York, Feb. 16.
Irregularly In NY
New York, Feb. 16.
Stocks advanced irregularly in the first session of
the week today.
Gen. Tyre & Hulber Genty On
Grumman Aircraft Gulf On
Hammond Organ
Some of the net gains ranged | Gen. Pub, VII,
or more. In some instances Josses Jan to more than four, notably in the BUGHTS which wore affected adversely by indications Cuba will expropriate panies.
Most of the Industrials moved higher. A new cancer score hurt the tobaccos which re-
AMONG the skyscrapers of downtown to four points
New York a new movement is on foot which could transform the scene in Throgmorton Street. It could bring about such a boom in British share prices as investors here have never dreamed of.
A great mountain of cash is ready to move across the Atlantic when the right time comes.
Day after day the men of Wall Street watch and wait for signs and portents.
on
Avidly they digest reports
the British political."
acene.
Every public opinion poll is scrutinised, every move that Macmillan and Gait- skell make is the subject of discussion.
Beems
The moment it VC-10, is being “Americanised." It will have certain that the Tories will an American automatic pilot, an American elec-win the election the dollars trical system and probably an American air data system.
British firms which have had their bids rejected in favour of American equipment büllt under licence in this country are angry at the decision.
A representative uf one o!
them said: "We are certain we
could have done it cheaper than Viscount Orders
the Americans."
It is claimed the move which
has the full backing of Boac, has been made purely on tech- nical 'grounds,
Boar
bas
ordered
£00,000,000 feet of 35 VC-10s, with an option on another 20. for delivery from 1903, EXPÉRIENCE
The American Bendix aulo- Pilot selected is the same 4
at-fitted in the Boeing 707, of which-Bone has ordered 15. It was chosen after an exhaus- tive examination because of the real flying experience behind it.
Now Total 404
V
"
into Bri- tain's inclustrial securities,
will start to flow
Big Difference
What is all
Heyden Newport Corp. Iloiestake Mining Ca sugar com- Idaho Power
gistered losses running to more than three points. A regular dividend provided a disappoint- ment to Du Pont which tell three points.
Today's volume was 3,480,000 shares. Of a total 1,241 shares truded, 070 were higher and 350 lower.
American Exchange volume was 1,010,000 shares.
Bond volume amounted to
$5,950,000.
Dow-Jones closing
20 ruila
Ally Chainea
Am. Brake Shoe Amo:lean Airline
107,91
Ingerron-Band
int1 Business Machines Interchemical Corp.
Int'l Harvester International Nickel Inti Tel Tei Kaker funtry
Kennecot! Copper Kimberly Clark
Liggett Meyers Tob, Co. Logus meèrn.
Motorola The National Blocul
502
4116
017
0291
13
1073
6012
03
Time it takes for thesL chaps.to hammer out an [agreement {"
London Express Berviga,
Chicago Grain Market
Chiergs. Feb. 16. Grates Jumped into strong ranges in deferred contract, then showed rome weaknes, on the Board of Trade.
Early mill buying sent wheat into firm and strong tones early
today. Steady tones were com-
LONDON CLOSES FIRM
London. Feb. 16.
The stock market closed mostly firm today, on quiet trading with atten tion directed toward the Industrial list.
Dill-edged recurities opened - firm but retreated following the appearance of a new Rhodesia Nyasaland stelling isque,
Selective demund boosted in- dustrial toul, particularly those with V.S, following. Tube Investments Improved in the move for a New York listing. De Havilland's featured a firm aircraft flat, end stores and lex- tiles advanced.
In
LOST GROUND
the foreign bond scellon mon in soybeans until the close, | Japanese, German and vertala then March fell a full cent and Halfie Hens were firm, but July went up with September Greeks lost ground on doubts
about a speedy
settlement of
Gold stocks were higher.
Copper issues were firm.
Oils falled to hold all their
but closed stocks
advances
Rubber quiet and firm-UP.
were
Mercedes-Benz Sales In U.S.
South Bend, Ind., Feb, 16. - Soles of Mercedes-Benz nutomobiles in this country last month were 12 per cent above the Dezember total and 121 per
cent ahead of January, 1958, Marcedes-Benz Sales Inc. an nounced-China Mall Special.
Du
21
Lovenstein & Bone.
1702
McDennett J. Ray
573
McDonnell Airerth (Am.
24 cent a bushel.
Stock? Exgt.)
34
Wheat No. 2, red
the Cyprus issue.
Mesebi Iren Corp.
334
Spot
202111
Minnesota Mining
121
Mar. 201 (11) 195(L)
1994-25
31 Development Musauto Chemical Co
211.
May
10013-14
42
July
3R52-15
Montgomery Ward
Sept
187!2
Dec.
1937-190
Cu
Initini
averages
Wire:
30 industrials
National Cash Reg- National Dairy Prod. National Steel Corp. Norfolk & Western By
Corn. No. 2, yellow
Spot
Mar old
11521 11334-16
higher.
Mor now
110-
101.30
Neri Amer. Aviation
414
May
11746
North-west Airlines (Com
3342
July
is title
00.30
Clin Matteson
4612
Sept.
110 113%
#3 stocks
204.20
Otse Klevators
001
4
bendu
30.34
Iye
Owen-linol, Glasn
Comm. future price index
143.00
Mar.
13714
Oxford Paper Co.
Mny
1337-34
SIR ALEXANDER...
Closing Prices
Pacific Gas & Elec.
Dals
Fa American Airways
Paramouns_Pictures
403
Mar..
May
ICI is beat.
Alden 1 Ary.
Penny J. C. Co.
10021
Alded Chemicals
9
Penn. Salt Co.
202%
Soybeans, No. 2, yellow
Allied Mill inc.
445
Philip Morris
B01
Spot
Yet Du Pont American investors less
274
Procter & Gamble Cu.
75
"Mar.
224160% 221+%
guares return
than
4
Putsburgh Pinte Gla
70
Moy
RBA
Publicker Industries
13
July
Pure 011
#2
Barley,
012
17-
40%
Reynolds Metal).
Radio Corporation
46
Spot
7724
New York flour
(
Sears, Rorbuck & Co.
200 lb, aack
120-133
$12.30T1
ZUEN
Saint Rog. Paper
44%
-U.P.I.
24:2
Beott Paper
7572
2009.
Sinclair Of
SZIL
991. Smittt. Cline
French
104
Fucony Motil Oil
4014
1782
Solar Aircraft.
South Puerto Rico Sugar
20
Southem Co. (The)
7236
Southern National Ca
Bethlehem Steel Boeing Airplane
1234
Standard Brands
401%
Borden (The) Co.
Standani. Il uf Ind
Standard Qll of Cal.
Burroughs Add Machine Calif. Packing Corp. Cumpbell Soup Co. Canadian Pacifle R. Cal Tractor
30%
Sinndar 64 ĐI HJ.
531
30%
BOT
28
521
533
45
Time Inc.
48
6016
J74%
Twentieth Century Fox Films
Union Carbide...
031
Union O of Cal.
0711
Union Pacile Railway
United Aircraft
Corp.
Amer & Farga, Power An. Gas & Electric An. Mach. & Fury. Amet cou
the excitement about? Why are the Americans 3 per cent whereas they enuld Americae Cable & Radio so keen to buy our shares? Just get nonrly 4 per cent on LC.1, look at these exemples.
is the same story every- Two of the finest chemical where. "Big Steel" the United combines in the world are E. J. States Du Pont de Nemours of Dela-returna ware, and Imperial Chemicalyat,
Industries.
Both are prosperous, both are TICKERS-Armstrongs immensely wealthy. And be- (Aircraft) Limited an- Tech Sir Alexander Fleck at nounces that Pakistan Inter-IC.I. and Mr Carpenter of Du notional Airlines has ordered
Pont there is surely nothing o choose. two
more of the latest
Vickeri' Viscount V.810 turbo-prop airliners.
P.I.A.
This will bring the feet of Viscounts to five, the first aircraft of which has just been handed over. The Pakis- tan Government has two Vis- count 700 series aircraft in ser- vice for V.I.P. ure.
Trans-Australia Airlines has Westinghouse electricnt equip also ordered two of the V.810 ment has been pleked.
The series Viscounts bringing that VC-10 will operate on ais A.C. uirlinen Viscount feet to 15. system, of which Westinghouse Delivery will be in April and
operational May at this year. years'
hus 10 experience.
Britain's aircraft equipment MIXED CLASS manufacturers
entering
ure
only, now
with the the field
The Pakistan V.010's will be Mark II versions of the Vulcan | mixed class-15 first claes pas- and Victor H-bombers. A con.. Rengers and 30 tourist. The tract for the VC-10 would have { T.A.A. algeraft will be 36 senters given them invaluable experi- Including 4 scuta in A rear ence, but Vickers doubted lounge. whether they could have pro duced the goods in time.
PROMOTION
Electrioni equipment for the new H-bombers Is being pro- vided by the English Electric Company, which has just had Its bid for a lurbing contract in the US rejected in favour of a higher American one,
эп
The V.810 series Viscount entered service in May, 1958. It crulzes at 385 mph and has ul- ready been proved to have outstanding economy. Other air- lines which have so fur taken delivery of these Viscounts in- clude Continental Air Lines, Lufthansa, Soutir African Air- ways, and VASP, while Air- work, lunting-Clan. Ansett- A.N.A., Cubans, and the Niar-
For the VC-10's 'air data sys-chos Group have machines on dam, not yet ordered. Bcae, has order.
nya'n sober{lol American The total number of Viscounts Bold world wide is now 404 and equipment.
Viscounts are now in service on
Though the decisions are said
to have been taken on techal-89 airlines
cal grounds alone, there is some bullet that American syɛlama will promote overseas sales of the VC-10:
Ship's Master Phones
Edinburgh From SEA
N
unasual
A call was
Shipping To Swedish
Ports Dropped In 1958*
Stockholm.
OVERSEAS shipping to and
HONGKONG
STOCK
EXCHANGE
by
Our Own Currispondent
Business done on the Hong- kong Stock Exchange this moting amounted to approxi- mately
Noon $315,000.
the morning's quotations and transactions were:
Shares Dayers Sellers
BANKS
K Bank. 205 B15
INSURANCES
Untun Lombard..
SHIPPING
Waterboat Wheelock
DOCKS, ETC. Deck Frovalent.
LAND, ETC. Irk Hotel. Il Land.
Realty
RUBBER Amalg.
TYUME
Bales
010
72 72.50
27
200 2720
1.03 6.75 10095.70
43
12 12.10
23 23.20 52.25
4.45
A
700 @
10
6.40
200
1.20 1.025
2,19 220
220 220 BOCO «
A. Tawan. .2.73
UTILITIES Tram Yaumati
2864 21.10
Sicel Company-also 1 measly 9 per cent because threats of re- nationalisation have kept down the price of its shares, the mighty Steel Company of Wales gives around 8 per cent.
First In The Field
In the electrical stetion you can buy Decca at 398, d. to give you 5 per cent and you have the assurance that in stereophonic sound and televi- sion and radar there is no more go-ahead company anywhere.
In the United States an electrical share of Decca's, slatus would return half as much.
So stand by for dramatic happenings if the Tory popu- larity index swings up in the spring. And if you want beat Tho Americans you have only to buy the shares of Britain's leading companies before they enter the meiket | the bluest of the blue chlupy.
They will be the pach makers when the Yankees town.
come
to
|
A. Sup
American Tel & Tel America Tob, "13" Anaconda Copper Atles Cons Mining Baldwin-Lima-Ham. Beneficial Founce Bendix Aviation Corp.
Celanoso Corp. CIT. Financial Corp. Chrysler MOLOTE Clubit Peabouy
Colombian Carbon Co. Commercial Credit Commonwealth Elec. Consolidated Edison Continental Oll of Del. Cuban Amer. Bugar Diamond Alkali
Diamond Gar Dougies Aircraft Dow Chemicals
Dupont de Nemburs Eastern Airline Eariman Kodak
Sleep Rock (Toronto Expe
Sterling Drug Co.
Slokely-Van Camp.
Studebaker-Packard Corp.
Sunshine Mining
Swift & Co.
Tide Water Asen. Oli
Tri-Cont. Warrante
United Fruit
United Gas Corp.
US. Fall "B"
US. Line Co.
2134.8. Rubber....
8. Strel
UB. Steel 7 F.C. Pr Waukesha Motors
Westinghouse Ale Broke Westinghouse Electric.. Western Union Tel. Co. West Vo. Pule & Paper Winn Dixio Stores Woolwork) (K. W.)
Zenith Radio
344
5151
7934
39
141
El Paso Nallonal Gas Family Finance Corp
3726
3214
Firestone Tyre & Rubber
132-5
First Nat. City Bank
Ford Motor
General Dynamics
to
Yesterday's Closing
General Electric
General Foods
General Motors
772% 4032
P.OB.I
EA
COMPANIES
PASSENGER/FREIGHT SERVICE
PENINSULAR & ORIENTAL'S.N. CO.
OUTWARD"
LEAVES UK
"SOMALI"
Golled
0/1 "CARTHAGE" Salled 21/1
.DUR O..
In
Port
eth Mar.
Balled 6/2
14th Mar.
Bolted 8/22
2nd Mar
20th Mar
"SALJETTE"
"SENDA"
"CANTON",
"SALMARA"
27th Feb.
LEAVER B.K.
1st Apr.
18th Apr,
DUE LONDON
HOMEWARDS
-U.P.I.
*
*"SUBAT" "CARTHAGE" Noon
5 m. Rist Yob.
20th Mar.
13th Mar,
23511 Apr
"CANTON" • Noon "THMALAYA" 11 pm. 30th Apr.
16th Apr.
17th May
*CORFU"
"CARTHAGE"
Noon Noot
Bth May
6th June
zith May Bih June
7th July
มี
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK Closing rates were:
Cenada England officiat
J+day
90-4-20
Now Zealand
South Arres
NOMY
Uruguay
Others were unchanged.
LONDON' Closing rates were: New York Montreal
器
500 ET
300
C
(0)..... Electric
16.50 10.70
# 10.00 10.30 20.30 3000 20.60
25 2020 600
Amsterdam
Dr
20
2005.70
1.025%
2.00 13/15
2.20 13/10
2.00 11/16
4.7032
2811
2403
10004
10.301-105974
No. Ra spol....
Settlement Joure Lerra: Mer...
Apt|1/3 ne
July/Sept
Oct/Dee
*
*
Vi Badfe, Penang, Colombo, Bombay, Aden & Pt. Baid.
2112.23
Total salos ct 13 of these markets were 12,053 boles.
# "SURAT" artita Colombo & domday, and extends
U.P.I.
*
10 Hull, Hamburg, Rotterdam and Antwerp.
2344-25% 25-12-25
s markets, elt bass, 'ports;
Feb and Mar
April
Estate crepe thin Mar
Į Estate crepe :ick Mar
2416-231- 20. 253
-U.P.1.
COTTON
NEW YORK
Prices of cotton futures closed
4.6044-2.00-13/TA 3.75-3/18-2.75-8/10
today as follows;
Spot
Mfor.
140.35-140.40
May
July
Oct.
Dee.
Mar.
May
July
19.5794-10.30 11.7334-11,737 00.10-80.23
Copenhagen Telophone 25.00 21.30
Frankfurt (N) 21.70 23.50
Lisbon Cament... 13.50 200 1900 230 Milan
174214-1713 Oslo
20.0315-20.034; Paris STORES, ETC,
33.706-13.7576 Dary ...
15.20 1043 300 10.40
Dihers unchanged. UPI. Watson 1300 13.90 Lane, Craw. 14.50 14.00 2006) 14.70
from Swedish ports telephone showed a decline of close an received in 6 per cent in 1958 compared Mac E the Edinburgh offices of The with 1957. In all, arrivals Ben Line recently. The call totalled 16.3 million tons from Captain 3, C. hot as against 17.3 million Harvey, master of thetons in the preceding your, 12,000-ton cargo-passenger while departures amounted ship se Bendoran a few miles to 16.2 million tons off Singapore -- well over parad with 17.2 million 7,500 miles from ́ Edinburgh. tons.
was
com:
The ship is the first of the Bente:4 per cent of the total over- Swedish vessels accounted for Line'a The East fleet to be fitted with a Marceni Nauidius. V.H,J., wear tonnery calling at Swedish radio telephone, to link with the parts in 1968. recently-inaugurated Singapore
Getraat
Next in order
COTTONS Texules ...
£100 Nanyang.. (1.75 MISCELLANIKQUS Vidro ... 1320 INVESTMENTS Allbed
006 @ 15,10
3.00
Norwegian Exchange Rates
RUBBER
METALS
NEW YORK
Priecs
of metal
futures closed today in cents per lb. as
Mar
*
BRITISH INDIA S.N. CO., LTD:
"HAVILDAR", dus 18th Feb. from Caleutia, Rangoon
Le Straits mallu 19th Feb. for Japan
+
K, "BANGOLA”
dụn 19th Fab, "from Japan saila 20th Feb.
tot Sapore. Pening, Rangoon de Caloutis
P. & O./B. 1. JOINT SERVICE
10.101
10.806
10.25p
10.42b
B0.01b
"OKILA"
10,926
100.8715b
190.786
LONDON
-Frices of metals closed today
from Harschi, nombay, In Port
Coobin & Tulicor a sails 75th Feb. for JupeA
due 4th Mar. From Japan. Kaile din Mar. for Bingabore.
Cochin, Bambay, Karta 2:11 KUWA, Barrah d Khorrainstatir
follows:-
Lond Mar.
May
Zinc
May
Copper Mar.
May
ΜΠ Mar.
May
38.70 nom.
39.83
*ORNA"
35.70
24.00
32.15
31.99
in starling per long follows:
Lon
43
·Duyers Seilers
Tin
31.19
Spot
.7701 771
"ORMARA”
doo
3-mont
ma
733
Copper
Spot
217
2-month
10, 201
Lead and half
May Zine and ball
Teb.
:-20% 70%
7436
UPI
NEW ORLEANI
Prices at cotton futures closed today as follows:
Spot
Mar.
May
July
Doc.
NEW YORK
Mar.
Rex rubber futures
tadny closed five to 15 points lower with sales of 14 contrneta,
May
July
Mar.
Business was done. In the local unofficial exchange market
morning at the following talents.
越
US dollars) (PEP) (1)
tile
6,74
May July
12.10 32.15
10.30
Hierling notes (Der Ril
Now. Ja and "adar."
AMSTERDAM
Andralan noter (per- 41) Jogónesian rupiah (par"100) „i Slam 1500 (5er:166) ... Wingapore" (Stru÷ta)
23.00
ship-to-shorn VILF. Hak and British Dutch, Danish and
similar links in other parts of the world.
A total at 18.3 million tons of By picking up the teitghone onde
discharged Wor receive on the prides Captain Swedish porte during, the year Haevậy, wwa shin' to contact" the | Eniers ships striving froin abroad. new shore station, and ask, to be The CofTRIDonding figure da put through to the Singapore 1957 was 20:8 deillion tone, znost telephone, change which gx|tif the deqtida being accounted the Edinburgh number cor him; þár hy oodand color. Crouda The distance la ballerod is be loaded dedimdiki to 144 exiliu one of the longest over, which a ¦ tons, se seminat 17.4; million tons commercial telephone - conversa... | in. 1957. The reduction, Was tion just been made through mainly daar ka emeller shipments VHJ UGK 1
of iron ore and timber.
“The chicge for the conversa= Of the oversus cargoes die
ahnite but charged in Swedish ports. 30 per
tion was byer £1
The rubber market-was quiet Quotations `ware, un- today. The changed. BEKEN
Capital Increase.
Lønden, Feb. 16.
SINGAPORE
The market ruled extremely quiet throughout the morning.
No, 2 rubber, per
The Board of Lloyds Bank | 19.3 Limited are considering whathar de noi they thould trommend
It could have the shipping line a cent worseneried In Swedish to anuswooldus: an increase; in RED considerable. – SVÍTA of money... valmista, Which slag mooounted nor the "Aankoopiat, Farm Clive
MËRGIMI Sõsta 44 pat-emer cif th post de hver page hammer star shoes Errando," Chairman, told they b
`partidslarly; KEVE
pevački, Hundrudu, of
day to operate?"
LIVERPOOL
Cotton-futuro élosings, in ponico per lb, were as follows:
American Castiel
Mat./April
May/Jine
JULY/AUG.
Oot/Nay.
Dec/Jan.
***** Mixed Contes
Mar/Apri MAY/JUAN
July/A
OM/NOY.
Duo/fan.
..SAO PAULO
SUCAR
New York, Tob. 18. World No. 4-mugar glowod- Uni- changed todây tó”, seven points lugher with sales of B con- tracts.
Domustle No. O sugar closed dnchanged to one point lovicer with sales of 337 contracts, take
Contract No. 4. (world) | Mar: 3.15-18: May?, 351-28) July! 393; Sept: 593: Ocí:-32) MAN 2017
Colton future. closings," to, May: 199) Root-teenie, per jk, zon
cruzeiros pérő kilo werë Un-
{available today.
In the United Stater, the
Cuba); 3.10.
Open interest; 6170 güntracts:
Ouvirint Na, @-(depam163) Mar: 1,03; MAY: BALL FARIS, BATI
son à 17destufated sei inar- | **.lib. els sUARE
kela was alid, not: availilite.
Penang
5th Mar, from Karachi, Kandie, Bombay, Cochin, Tull- caria & Singapors
7th Mar. for Japan-
EASTERN AUSTRALIAN 5.5. CO., LTD.
"KARMALA" losde 3rd Mar,
BALLE
“EASTERN"
4th Mar. for Labiaan, Sendaken,
Briane, Byddey Melbourne
due th Mar from Austeklia
for Japan
All yestèla karó, liberty to esll as per ports on or of the vizio à 9ha santo di salçağı aze uubject, to change 'arʻamendment with or withons, motion,
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