THE CHINA MAIL, THURSDAY, MARCH 5, 1959. How many "australs” make a fiver? The answer is easy... It's the change-over that would be the nation's expensive headache. .
INSPORTATION A
Hunting-Clan To Use 112-Seat Britannias
-
If Allowed In Colony
By ANDREW SLOAN
AN airline which hopes to be able to fly passen
gers from Hongkong to London at about half the present tourist fare, if they are granted a licence by the Department of Civil Aviation, will be using 112-seat Britannia aircraft.
Hunting-Cloa
Aly Bonuspat of Lon. he mythe nat future, Top Up Ues Trute and attinet. uple who by mone not afford the pr. mal bogh faste to London (1-105 & turn, 1224 single), and whee R 10
travel by sch.
Huntian-Clan's Protanuta 317 in, řived there recently from Malia on charter. It is one of the latest models if the Taisha Abreen Company's assembly lines."
t hay modified Proteas turbo-prep engines of a slightly
P&O Line's Profit Down By £4 Million
THE
Figher borrower than cartier Taludniata. This gives the ntr- 111 a Tinly higher speed an the game fuc) consumption. Tar PAAMİDALRY range is also high, 6,800 miles. When the fuel tonks ale fpped up, they cons tain 1,600 gallons, or enough for 12 hours 'conditinous Bight.
The four engines, produce a total of 280,000 watt, whita ts enough power to heup half of Houghtong or a small sized town supplied with electricity.
the new
The sealing arrangement: In Britannia "have been luid rut for "trooping," that is currykst large numbers of pas- FOURETS. They
zel fire
there wherst am either side of z cen- tra zile.
The interior diegration of the plure t quietly rolnu ful Situated in the tailplane scetion, the two huge lavatories, while, in the front, are two
siuer
SANDWICHES
London, Mar. 4. THE P. and O. Line ro
ported today that the group's not profit fell four million sterling last year and Pasivnzers are not served that the full force of the with meals on Pus aircraft, Pai current depression in ship-aveller should fed pckish, ping had not yet boon felt. he can order a smek, or a large real, which is pale for on the spot. If passenger wisher, he can take sandwiches.
The report, for the your which ended last September 30, showed asret afier taxation
of £6,648,011.
This computed £10,500,00 102 the
yenr.
But the large gally can cater for any passengers' needs, th.re
second previcas de
with
Over
The slump in probl WIR due to shop reduction in earnings of carito ships," a und . statement said.
P.
would have been larger still had not passenger liners.
A
Sydney, March-4. N AUSTRALIAN accountant reached for a. pencil and scribbling pad one day last week to demonstrate how the average person multiplies, say, £47/7/8 by 10. It took quite a lot of figuring.
then
Flest he had to multiply, the pennies by 10 and divide by 12 to convert them into shlilings; hind to multiply the hillings by 10, and the ones he had gained from the first two perations and 'divide the total by 20 to
them convert
into pounds and shillings, finally he bud to multiply tile pounds by to and add any pounds he had made in the fifth operation,
This wae a furat of reven operations.
o Simpler
יו
he said, values
DECIMAL
CURRENCY
FOR AUSTRALIA?
Keven which will examine the parihle Introduction decimal currency in Austraila.
The currency retormers orc the Inancial equivalent of "Ral-carthers."
by
no means
The
for desinal
By JOHN MOSES
This has the advantage of keep ing the pound as the basic unit, but it could malte enlculations cumbersome.
★The use
реплу
Another argument that mem- bus of the Currency Council- use is that since 1780 more then 70 countries have adopted the decimal system.
Only a few major ecuntries, including Britain, South Aftlen, Australia, have walled.
New Zealand
and
The decimal system recently
of the present came into operation in India and In a few shall countries of the na the saules! Commonwealth,
and Tonga,
Chartered Bank
Final Dividend
The Chartered Bank barbunco that at the Annual General Mrośling of stockholders to be held on April 1, 1959, the Directora will recommend # final dividend of 71⁄2 Ber cent unfual, subject to Income Tax, taking a total of 15 per cent for the year 1958.
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
Business done on the long-
ruch na Foug Slock Exchange this
morning
amounted to appro- ximately $251,080, Noon queta- Istions and the maming's transac
tions were:
sub-unit, maxing 109 pennies (0/4), the basic unit. This { currency has the ruphori
gives exact conversions, bui į Support leg the change bunkers, accountants,
'which their sins many of them would be clumsy now strong in South-Africa, and Meullies businessmen, tenchers, school-
would be New Zealand. and customers would face example, £1 children and housewives; then they became used to the 2 2-0 the beefe unit. Australian Institute of Weights
and Measures has asked the new senter.
Government to introduce it, and
"Now let's assume,"
the HS.W. Electricity Commits Saving "that we alter our slightly. We will make 10/ Die ston believes it would be f enzin unit of currency, und i reat Geneft" in its operations. make 10 pennies equal chiling. This breaks up grain, util into 10 separate shll- Ungs, and 100 separate pennies.
unet
our
"This simples everything We can now express dccimally the three separate elements in
£47/7/0, and write it £47.78.
"The 40 represents the num- ber of basic units, the seven hittings becomes 7, or seven- candle the talt, then eight ben oreign- Innis hundredths of the basic unit.
"If we want to multiply by 10, we imply shift the decimal paint, and the tolal becomes £477.0-in one operation taking caly a second or two,"
that
was, more
in fact,
The change
than 20 recomiendel years ago by a body as i august and judicial, as a Royal-Com- mission on banking.
ago was
was
of decimal Supporters
cur cy say, however, that oil the changeover problems are worth facing in view of the efficiency of the declmul system.
That efficiency, they main For two deendes there some Inolated and Intermittent fan, is tremendous. In the first campaigning by individuals, Not place, specialised office inchines until two years
theow useti overseas and based on Decimal Currency Comell the decimal system could formed-chairman, Sir Leslie used In Australia, Melville, Vice-Chancellor of the Australian National University. and a former executive director of the World Bank — to co-
ordinate and reinforce the movement towards the change.
The council has pointed out that the longer Australia delays the change to decimal currency, the more dimeult the conversion will become.
This is the sort of practical argument
supporters of decimal currency, are using 10
This is because there is in use Convince in
wavering conserva-an
number of taerending tives that the present monetary calculating and accounting #yslcm needs to be changed.
machines and cash registers, all have to be of which would altered.
emmalle galley.
In the pilot's cabin, hundreds complex dials meet the cye. Being one of the intest models. one important modiñeation hos bren made regarding there,
Interest has been tirred up #cently regarding ultimeters. On early models, the altmeter
Hiree "The had
needles, A thin nat reflect pointer showing tens
hit by the Suez eris in 1957, "done substantially better," The stalement added: present results do
the full force of the curren Thousands of feel, a medium- depression
shipping which will be still more apparent in the figures to be produced in 12 months time."-Reuter.
Canadians May Build U.S. Supersonic Jets
sized wedle registering thou- sands of feet, and a large needle reading hundrets of feet. But at a height of 110 feet, the larger needic obscured The smaller needle,
The new inštrument, now has n large needle for the 10,000's of feel, which is read on the periphery of the diol.
of
under aviation
Ottawa, Mar. 4. LARGE FLEET The Canadian Government is studying the possibility
Hunting-Clan are long- airline In British building 300 American super established Fonic Alghter
They began Just after licence In Cada to replace the war and have gradually The Subre F-6, down by s built up a large feet. They Nato fighter-wing in Europe, are now lying 27 aircraft, in-
planes
per
The 1,000-30 Gruman Super Tiger
hear cluding fighters and BC-4's.
Britannins DC-60's
10 They eve
Britannia most of now, with an option on a thire.
would be built by A. V. Roe
Lad, which dismissed
its personnel when the Canadian | Tre company are not newcomers
Governin!
to the running of on
build the Canadian developed Cemumy servien, Arrow CF-105.-France-Presse, ·
British Own Most
Londen, Mar. T
Air HE Society of British
etalt Constructors said here tety that Brinin cwned 438 of the 511 Jet and turboprop al: Uners in service throughout the world outside Russia.
They died in a newletter that it but 50 of the total hud
Lengine so-Chinn
British Spectul
Ko the past seven years they ive been operating-7 mi
It is undoubtedly
the kind
of argument that will be put
saved
14
in
Time would be cfflers and shops, trade with fareiza dezimalised countries would be simplified, New Aus- tralians used to the decanal system would find lift casier- and go would teachers, school- children, and the wcman in the street.
man
and
an
Not yet finally agreed
of the among the advocater changeover
the precise method to adopi — and this will be one of the things the
BANKS
as Bank.. et: #way
INSURANCES Unles Laberd
The crements about meastir- ✰ The Ayelom (alreadying things and meney
rammended in New nothing more than Zealand
Africa), cesuring an article's value and South which makes 10 the basic unit, may not be over, however, even if Australia's monetary system Is (Some people are saying this changed. unit should be given a special name the "cusiral" perhuigs.)
• Coinage
The smallest eub-unit in this system is it and by dividing 10/ by 100, giving 1.2 piece, only a trection cbov: the present penny. The 2/ piece cruid the be retained as 20 cents, the 1/ Give ploco as 10 ted the Gd as
The theepance world disappear.
samt.
committee of seven will report H
on.
The £1 could be divided 160 units, making initial the smallest sub-unit 2.4 pense.
to the Federal Governmcat's" Businessmen are also con- recently formed committee of [cerned about the
IRREGULAR MARKET
ON WALL
STREET
New York, Mar. 4.
Irregularity came into the stock market
active opening today.
Amica Stral
While most prices continued, Aarenda Copper above the previous closing, and come specialy had gains ranging pust a point, hesitancy was nated around the end of the first hour.
There was profit-taking in a few of the recent upside leaders | such as Thiokol which slumped nearly five points, Amphenol Burg, down nearly two,
Features
the Testures were
Gulf bigher, however,
Oll
Chuett Peabody
rervice to and from Africn.
Should they be granted a Hence to operate their med-class to twoints, Catate Fonolly Co service, the planned route
ludes stops at Rangoon, Bon-
Karcchi, hay.
Istanbul and London.
One of the airline ofBelals,
C. Strelion, Capt.
said "Although the osterday.
expected to be schedule slower than the present service. are running an economy fight, without the trimmings."
Zenim ran up live," "American- : Colombian Carben Co. ip- Hawaiion
Steamship
over Commercial Credit reven. There were gains of point or two in Canada Copper, Texas Co., Luken Steel, Pitts- burgh Plate Glass, Haveg, Rexall and Diners Club.
We
Ford stood out in the autos with a gain of more than rom.
Rails continued Arm with Virginian Railway featuring with a Iwo-point rise and Western Pacifle up a point.
Eastern Airline
Eastman Kak
El Paro National Gas Family Finance Corp. Firestone Tyre & Rubber Ford Motor
General. Dynamics General Electric
General Foods
1160
after a higher,
North Amer. Aviation
Pubiteks Industrier
Pure Ull......................... Hadio Corporation
Republic Stero
Muzal.
Saloway Stores
Texas Co.
Tixd
5
30
In England, for example. there
move AISOG voientists to have the whole and
rance
of weights measures put on a rationa! metric level.
The British Ass:ciation for Advancement c! Selence dres not expert the full metric system in Britain before the end of this century.
•
Bil changing our the decimal system may much suner thun that.
Incacy to
come
Buyer Sellers
Sel
770 777,53
72.50
12
SHIPPING WettiLügt. 27.50 Wheelock..
5.50 53 1633
5.31
DOCKS, ETC. K. Wharf.. Bet
FILvident ..
ETC. LAND,
10
44
43.50 12.12 12. int
IFIC Hotel 23.10 23.3ɔ
1 Land
(alts) Homohress Realty RUDNER AN Tru.t
200# 23.20
$440.79
1,473 1.525
.... 1025
Sungulu
22.130 2.3 2.75
UTILITIES
Stir Frity
Youmall
Elegte XD 23.30 23.33
253 23.20
Marzo E Tul.
9.35
23.43 .03
530 23.50
1200 251
200 or 231
were favoured cement XD
INI
23 60 23.00
73.30
203 1 23.20 1000
23,50
10 14.20
Most Stocks Firm
In London
London, Mar. 4.
were
Steel shares
JELPED by the outcome of and several engineering sucs
Prime Minister Macinillon's Moscow visit and another
new peak on Wall Street, stock markels in London
tirm almost everywhere today. The resonably satisfactory figures for the gold reserves and the Industrial production figures also encouraged a steady selective demand particularly for end Industrials.
xp
Team XD.. 23.1) 2343 116 6 25.3
104 177
93 100 05 1630 10.00 400 10.00
130230
C. Lin
14.40 14.00
0.75
while electrical
STORES, ETC improved
#uired
Dairy Around cqulpmint
Associated Watson XD 13.40 13.80 under the lead of Electrical Industries which L. Craw however closed below the best.
COTTONS Tobacco were good. with Trxle BATs outstanding and Fords Ninyang were firm in motors. Store and building shares went ahead and miscellaneous leaders many glits
closed with good gains.
Gold shur were unsettled and moved erratically to nishi
MISCELLANEOUS Vibro.... 15.40
INVESTMENTS
Int.
633 14.50
Invat 8.29 5.45 2000 # 8.30
The glli-edged mirket had i with widesprend falls. The Exchange Revenue good day with Government unsettled labour und political stoclts registering a good de state of Airleans in Nyasaland mand
industrial lor selecled equities. Insurance shares were wanted again and made further herdway while leading banks were harder where changed.
Yesterday's Closing
and Rhodesia was responsible. alls were Лет but reacted later and were mostly little Rubbers changed on balance. were again supported.-U.P.I.
New York, Mar. 4. The New York Stock Eat- change reported today net re- venues of $401,700 in the big bull market year of 1958, against $119,990 in 1957.-U.FI,
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK
Closing rates were:
July/Ang.
20.15
GeNov,
1933
Lee Jan
1920
Mixed Contract
Mar/Apr.
22.00
May/June
21.03
July/Aug
20.10
19,20
MIT/ADE
10.10
SAO PAULO
2.01 1/10
cruženog par kita were as fol
2.03 16 2.60 13/10
lows:
Mar
51.00
2.001
July
.0150
out.
00.00
.0370
Dec.
07.00
1700!
Coltonlulure closings.
Others unchanged.
LONDON
Closing rates were:
New York Montreal
3.81-1/16-7.at 3/10 2.72 13/16-2.73 1/19
10.00-10.0)
In the United States, the average price of one-inch cation r. 14 designated spot merkels was 34.81 cents.
Ap. Juns
July/Sert
Gincial iharkely elf, bast Mar. Alo3 May
Estate crepe thin Mte...
thick Mer.
AMSTERDAMÍ All-quotations:-unquetsd.
METALS
NEW YORK Prices of metal future closed today in cents par lb. as follows:
Man
Others tinchanged.
140.4734-140.LO
10.3706-19.375
11.751-11.75%
174432-176315
20.01-20.0412
--U.P.I.
Lend
Afor.
May
30.10 10,15b
Total sales at these markets were 24,000 bales.-U.P.I.
Zine
Moi
May
Copper Mais ...
32 GOD
May
RUBBER
Mar.
MAY
LONDON
32.90b
101006
100.07
72%
6012
TI
netrtrowest Airlines
(L'em.)
348
Oh Mathieson
Armour Atlas Cons. Mining Lakwin-Lisa-firin.
139
UUR Bil vaLOTA:
14%
Ow.-Ulinois Glas
Baltimore & Ohio Benefcial Finance
Pretite Gigs & Else.
2224
|Pan American Airwaya
Bendix Aylation Corp.
767
Paramount Pleme
Benzitet Cons...
Parke Davis Co.
Bethlehem Steel
13
Penny J. C. c.
Peru. Salt L'O.
Boeing Airplane
42
Phillip Morris
Borden (The) Co.
241
Burgh Add Machine
411
Phenter & Gamble Cu
Chr. Pacing Corp.
Pittsburgh: Plate Glasc
Campbell Soup Co.
D11
Canadian Pacific N. Case (), 1.) Cu. Cat Tractor Celanese Corp.
Piančiai Carp Chrysler Motors...
32
05
Rey
65
STRZ
Sacker. Paper
481 Sinclair Off
0721
Broth, Cinch French
Cominonwealth Elec. Conselldated Falcon Continental Oll of Del. Crown Zellerbach Cuban Amer. sugar Diamond Alkall Diomand, Gard Douglas Aircraft Dow Chemical Dupont de Nemours
Socony Mobil Oil
11122 403
England officiat
20-0333
0011
Eolar Aircraft
201
90-day
044
6352 Fan
Gouth Puerto Rico Sugar Bouthern Cu.
271.
New Zealand
(The)
Argentina
Southern National Gas
4412
Peru
AZTL
Southern Railway (Cont.)
Uruguay
Standard Brands
CON
may?
Standard Oil of Cat.
80
BO
Standard Olf of Ind.
49
Standard Oil &
N.,
2114
Steep Rock (Toronto' Exge.)
14
162 jxd | sterling Drug Co..
709%
37
Stokely-Van Camp. Studebaker-Packard Corp.
15%
Ainaterdam
Brussels
Bunshine Mining
Copenhagen
Swift & Co.. txd
39%
Frankfurt.
Textron 'Ing.
Oslo
407
Philcko) Chem.
1577%
Tide Water Aam. Ol
你嗎
Time Inc.*****
Ti-Cont. Warrants
时
Union Carbide
Goodyear Tyre
12ntz
Un O of Cal
...
Graminan Alterati
271
Union Preine Talkwa
Gurr
Hammond Organ
110424
United Aircraft
United Fruit
43%
amounted to
Bonds volume $7,710,000,
Dow-Jones
were:
Ini Harvester, para
20 industrials
012.84
International Paper
20 rails
194.83
Int'l Tol & Tel.
15 utilities
9273
John Manville Co.
23 stocks
210.83
Keiser Industry Lesson
40 bonds
36.51
Comm. future prica ind
10739
Kentecolt Copper
Kimberly Clar
Closing Prices
Liggett Meyers Tob. Co.
Lockbred Airerati
Loews_Incorp
Aldon Inc. Acy.
20%
Lane Sir Cement Co
1081
Lowenstein & Boar
431
McDermott J, Hay
2014
Meponnen Aircraft (Am
* Block Exɛ5)
2012
Idaho Fower
Heyden Nowpart Corp. fomentake Mining Co.
...
1031
United Gen Cor
Mar
V.B. re "D"
40
U.S. Gypsum
10719
NEW YORK
May
July
Ingersoll-Rand
Inland 810) Co.
Injetcheniicel Corp.
closing averages in Budness Machines
International Nickel
Kansas C. Power & Light
UB. Rubber 374. Smelting
7.9. Stert
Warner, BroR. Waukcala Moters
Western Unic» Tel. Co. West Va. Puly & Poptr With-Dir'e Biozen
08 Webworth (K. W.)
Zenith Rad:
10%
UR. Line Co.
Prices of cotton futures closed
Sent
3311
today as follows:
Nov.
034%
Spot
15.65 nom.
Jan.
PC. Pr
161
Mar.
35.31
Mar,
5
May
34.50
Beetle
A Be
July
32.18
TEM
Oct.
31.02
Dec
34.02
Ar
31.02
May
31.02
July
50,00
NEW ORLEANS
Prices of cotton futures closed
today as follows:
Spot
Mar.
Máy
July
Out
Dec.
Mar.
May
July
6.75
31.03
31.04
30.01
LIVERPOOL
Cotton futura closings In peace per ; were as follows: American Contract
SINGAPORE
With overseas
markety vlr-
luntly unchanged prices locally
were only a thade higher.
The market ruled quietly
steady in the afternoon with
SUCAR
NEW YORK
World No. 4 sugar futures io=
to two
tle change in values. Futures: day closed unchanged No.1, rubber por b. Mar. 3-07 points lower with sales of 400
Apr. 80k contracts. No. 1 rubber per lb. Mar. 85-8754 Domestle No. 5 sugar, closed
No. 3
No. 4
Agat, rubber unbeled
Menket crepe
No. 1 pula crepe
LONDON
10 ono to three points lower with 87448241 sales of 255 contracts.
was
The rubber market eteady with spot quoted at 23 13/10 pence Spot nas No per lb, Prices:
********* 2014-251 Baltiemest houe termi Aptit
My
Easiness reflected; the lower row basis, with the futures market hovering around 19. low levels for the seison.
Latest reports indicated' 15
Cuban mills now are grinding. the 1958 crop compared with 139 mille operating
Prices were unavailable to- day,UPI.
Today's volume was 4,158,300 shares..
Of total 1,348 shares traded' 492 were higher and 533 lower.
American Exchange volume was 2,150,000 shares.
General Motors
Gen. Fub. Util... Gen. Tyre & Rubber Getty Olt.
Filmen Co
Goodrich (F.) Co.
Twentieth Century Fox Film
This interior photograph of Hunting-Clan's now Britannia 317, aircraft, shows the long rown of meats. In all there are 112. passenger seats, and eight seats and two bunks for the crew of nine. On short trips the draw seats may be taken by paying passengers,
Allied Chemicals
Allied Milts Fete,
Allis ChalmiSTO
Am. Brake Shoe American Airline American Cable & Radio
Corp.
America Cyramid Co.
Amer. & Borgy. Power Am. Qui de Biteirid Am. Home Prod. Am. Mach, & F'dry. Amèrica Metal American Brejting Am, Buger Rel. Americas Tet & gi „Ameriosa Tob. ***
Membi Ion Corp.
Minnesota Mining
DT Miston, Devitoment
Menuenta Chymied Co. 14k Monitomere” Word" bot Motors Inc.
Navonal Perut Co.
Netens, Dairy Pros.
Mellomi Biel Ogro
Sentri
Exchange Rates
Barinase wap done in the Incal
sýchance market
0434 morning" at the following retenTM-
7514 1.8 dallar (per #1).
Flats | Australisë hëtoni per 41)
COTTON
Prices of metals closed today in storing per long ton follows!
NEW YORK,
Rex rubber futures cloned unchanged to 10 points higher with sales of 62 con-3-month
tracts.
Dusters Sellers
today
Tin pct
18044
cath
783);
Copper apoť
247
2438
210
Lead-1st half Mar. June Zine 1st half Mar.
Limo
-U.P.I
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