1959-03-19 — Page 9

cesarekaman terisikannusmusbandsmonary artery, he turns the

RANSPORTATION NEW LINER WILL GIVE WORK

ΤΟ THOUSANDS

CANADIAN dollars will help to fill the wage packets of thousands of British workers during the next two years. A start is about to be made on the £8,500,000 liner ordered by the Canadian Pacific Steamship Company a year ago.

The g

in this vestel brings the total of Canadian

ships Facilie spending on

Britain

1930'

כ'.

the

more than £35 million.

19 British Port

The linna, si te le gene Facilities Better

name, to be jer iz Vieknes.

Aurste nas on Tyneside,

THE FURNISHINGS

PORT authorities in Britain

have done much in re- a man wib he cent years to improve facili. employed a vetufpueting het ties, but "there Camisas at the br Bidd 1.

oro no

Reglund at Barm el-Fness grounds for complacency," Many Bams all parts of according to Mr F. D. Arney. Brit will he'n to sul de general manager of the Port

of Bristol Authority.

...

She will be jarger than the En:,: +.[ England,

56,607,000, C.P.. ne

suuden

I do her

Mr Arney, in a speech in which, London, said that war-damaged

largely been Voyage 18 ports had

made meaths wite,

Roux and, in addition, since 1945 Into that Express went 20.006 the mujer British ports had pics of valley. 16,000 pieces a further £35 mition in of loss, furniture, carpets, linen art movements, and even

Brusting

machinery.

and unik Panas-ol British made.

Top favourite for th

ship's

anne

Canada,

Riveting In

1743

i

Empress

Plane Production

A

RIVETING machine made primarily for air- craft production has possible uses in the shipping industry.

are

new

THE CHINA MAIL, THURSDAY, MARCH 19, 1959.

Pago .g

THE GOLDEN HANDSHAKE

Heads Leave: Get Tax-Free Pay-Off

By FREDERICK ELLIS

London, March 18. TWO top company bosses walk out of their jobs --- -and bingo, they split £88,000 in tax-free compensation for loss of office: They are Marshal of the RAF. Lord Portal, who collects £30,000, and bearded Mr Geoffrey Cunliffe who picks up £58,000.

They were two top bosses,

Lord Perial was the chulman earning. 11 sald, £10,000 a yer. Mr Cunliffe, the managing director, believed to be a

£20,0 year.

But these big payments to the

of the £50,000,000 British boss are not happily regarded by

the mon Aluminium combine.

the street, in

Wito applauds even bigger tax-free piyments from the foothol pools.

Why?

One reason is a deep- down anti-boss feeling.. Another is that when ordinary workers are laid off by firms

there often no compensation to soften the blow of losing a livelihood. But the payments to these two Joiner Aluminium chiets are a long way off the record "Lang shake."

1 They quit the Aluminum bedroom afle: a bitter battle for control of the company with

Bagru orlean prezer

and

Reynolds Metals.

THE ANSWERS

The two basses volunteered to 10. They handed 13 their notices just like any Jee Smith an the workshop fluor.

Joe Smith would not collect a pety for quilting. Why, then, should the borses be paid to go and why should the "golden handshake" be free of tax?

The answer are simple:--.

Britain's ldp bress always

the dim

aigus service contracts with They cuntly range from une year to seven or mare, And if the contact is binarn by either side the boss gets piki eff for the balance.

ie added: "Although we are how

position to £1

give better service, a slump in the Shipping "business, particularly in tromprargoes, la being ex- perteneed, and this offers us a further challenge since

In the ease of Lord Portsl it is

Mr Cunliffe it troks more impurtant than ever and during

The though the pay-off thee a stump perind earning capacity of shipe re-years clary. maining in service and measured

21 is inx-tree bertuar a

Is

LORD PORTAL

£30.000

GEOFFREY CUNLIFFE

BIR CHARLES E.

COLSTON

BIN PRANK

.£70.000

CAPT. ALAN KYLE

£50,000

WEB'EST

£30.000

BIMON VOS £30,000

FRANK PERKING £30,000

TRADE IS WAITING WALL STREET

Canada

Warns:

'Wake Up

And Sell'

Top of the table is Sir Charles London, March 18. D. Colston. He collected £83,575

when he quit the Heaver CANADA, fastest growing market in

world, offers

Company.

Runner-up Is Sir Frank the

challenge

a

Spriggs, who recently collected

£75,000 after leaving Hawkets. $5,000 - million - a year

Next in line comes the £80,000

to British paid to Mr George Pate, who used to boss Scotland's Albion exporters to wake up

and sell.

Motors,

And when Captain Allan Kyle left the board of Jonas Wood-

For the boom in Britain's head, the Shefeld engineering

exports to Canada-a jump of a firm, be tock £50,000,

Recently, too. master brewer | quatter in January on last year's Bernard Dixon quit the Flowers | 180.dicure-still orgaunis fol

only one-tenth of the Brewery boardroom,

Loods Canadians buy from thrond. £40,000 hendshuke.

with

1

And Robert Craig Wood, de- parted from Thema Hedley, £35.00 the op giant, with a pay-ui.

XPORTS TO CALZOR.

80% FROM

OTHER COUNTRIES

10% FROM BRITAIN

Britain's exports

to Canada

have risen

s quarter

on last year's figures

IRREGULARITY.

New York, March 18.

Declines in oils, metals and chemicals brought irregularity

Into the stock market today.

508 were higher and 510 lower. American Exchange volume

Today's volume was 4,530,0.0|15 ties alantes Otrtel 1,338 shares 40 bond...... L'omen. future price index..

04,70

5 stocks

211,40

BO.14

147.17

Closing Prices

Alden . Acy.

103:

Allied milix Inc.

was 2,000,000 shares.

Bends volume omounted to | Alfaro Chemntenis $7,000,000.

All Chuimers..

Dow-Jones closing averages A. Brake Shoe

were:

do industriin

28 rails.

610.117 104.07

London Closes

Higher

London, March 18,

American Autre

American Calle

Cerp.

Ankerican

Co

Amer. & Flight

Am. Gas & Electric Am. Bome fro

All

Mach. dry, American Metat American Saleiting Am. Bur Ref. American Tel & American TL. "B" Anaconda Copper Arco Steel Armour

Allas Cons Minion Baldwin-LHD-Tam

Tho stock market closed Baltimore & Oile Beneficial Finnce higher today on yester-Bendix Aviation Corp.

Betlehem Steel

day's rebound on Wall Benguet Cons Street and further optim-Boelig Airplane ism about the upcoming Burroughs Add Machine British budget.

Industrials slacks were selec- tively improved en a number of good company reports. An out- standing feature WAN Hunter, Richardson which jump-

Swell,

And Caneda's 17,000,000 people want to buy British instead of, British" the more direct logen cd more than on a higher Ameriam, the Canadian High sall British." Comunissioner, Mir

by days at sea should be the intract is being boken. EACH WAY BETterday.

maximum possible,

STATISTICS

"Statistics recently published show that an average British Phipping still spends 50 per Wing and fuselage panels for font of its time in port, bul Jet nirliners

being averages of this kind can be rivsted at a United States plant very misleading. In the short by a 21-ton machine that drills, |‚‚a' lundes a vessel might well counter:inks and concaterbares if;pend iwa-thirds

time of its bele, inserts a rivol, squeezes it in part wherens, say, in the with up to 15,000 pounds per, Far Eastern trade. the propor- pare inch pressure, and shaves tion might be only one-third." off the handt at the rate of one

than hal every

livet stends.

fr Arnty suggested that In Bitch ports, ships pre now og dircharged and loaded as

The' machine wet only conte : quieidy as in pre-war, days. pletes a riveting cycle of a my "The Phipowner, however, saya ever previously hebt-vel wi! wife sun fure that this is Mruduellen equipment but It, est good enough – skip design, elso thayes vit ing rivel wersjaj cut and equipment have all And so that they are flush to the improved in recent years panels with's: mie-s "d-a-hall | the owner experts port opera- thousandth of an Jash. Betons to keep in step." dum a humta bair. Sugh wing: surface more brew, I la stried

the future, he forecast, has never before ren-achieved more development in the carry- in con- with high-speed siveting equing of cargo in bulk, nient using 1

izontal talers and in units loads, could bronching rrwe}! for the expected, as well us a fur- the expansion of roll-on, shaving em 1.

10

Much like 4 giant lat roll-off" trofe,

macking, the vivelép is 121% tovt

ligb. 15 feet hang And

8 100

wide and has a fly-font throat

depth. There dingusir Britain's First

mit

the mathing

in

handle

manels up is 12 Jest wide and

2 feet in festin Push Button Cruiser

depth enables it lo rivet shins

·with extremis” curvature.

Oil Tanker

Clydebank, March 18.

And the "golden handshake" is thus echipensation for loss of

Ite

ut

stocks

dividend Engineering were improved but shippins issues weakened.

George A. Drew, QC., sald in Lenden yes- He urged Brilish exporters to

ødvertise r Canada-Just as Slores ratlled sfter #

industrialists told membe

with opening. Steck and dapper Simon Ves Confian Chamber of Cominerze Foods

the Canadian

10 sel le the British Greek and German lines Mee." Thus it does not repre-collected £95,000 for losing his

start advertising higher in the foreign scal pay--and ĥ tree of tuxtos efter he has sold

let Britaja: "We would like to pubile should

in Britain. as a Lew Courts award of com company, Trinidad Oil, to the

(#2 $420,000,000 adverse See

murket. Dollar stocles penation for injuries received Americans.

United ↑ trade balance with the

marked up.. in a car cevident.

States rently reduced by increased exports from Brittin.”

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

Business done on the Hong- kong Slock Exchange this to approxl- morning, amounted mately $1,234,000, Noon quota- tions and the morning's transac- tons were:

Buyers Sellers

*TO

Share BANKS His Bak..

INSURANCES

Lb.nbard

SHIPPING Walichuat Wheeluck DOCKS, ETC.

2772.5

22.00

President

XD

11

10422

cut his

And Frank Periting, the die:el engineer, was paid £30,000 few weeks ago after he had told his company

to Mosizy- Ferguson.

And Sir Jeha Black was

feuced to give up the boss-job

NEW SLOGAN The friendly Canadian market was wide open, but the day of the retler: market

of Standard Motels, fllowing Neither Canadian ear accident. Ic collected

$230,000.

But whichever way the best goes the handshake is generally 22 earst, las free,

Yesterday's Closing

will go breed right to buy..

was gone. Por others

to beg for the

So the time hed Prostitute for the

Since the Canadian trade mis- sien to Britain just over a year. #go, Brilish

experts to Canada had increased last year to the highest point in history. And they already in January 1958

£2,050,000 on the were up by some month a year ago.

And Canadians, he said, inoked forward to the day when the British Government removed its to restrictions an Imports-Landan wards Buy Express Service.

conin

COMMODITY PRICES

FORLIGN EXCHANGE

NEW YORK

Canda 103) 11.20 England celal

THE Tiget, the British LAND, ATA-6-11.20

Miluted.. 24.5) 21.30 1520 34.30 Australia

THE

navy's first "push but-

Charterton cruiser-her guns are

Market Active

ACTIVITY

in

the oil tankar charter

JK Land

2520 21 2030 | New Zealand 1002.40! South Africa 100324.40 Denark

2 24.29

Uruguay

Ostet

1+ 53.75

703 0.33

(KY) 5.35

北

fired by an olactronic com- puter linked toʻradar-was commissioned at the ship- Lond yards here today.

She is the first British cruiservi market but

once again the to have fully automatic arma- major part of the business ment and remotely controlled was in the American coast-engines. wise trade,

8.35

1 5,37%

ichanged,

LONDON

Closing rates were;

New York

Tes

145% - 14.00

1.475533

200 14.40

1833 350

Montreal

30314-0 Andam

Copenhagris

7.00

3.10 1000

1.50

70

2025

O+lu

Vicuna Autrich

205

RUBDER The ship's gonner officer told

Amel. 2.23 203 137) Rates remained fairly steady reporters Today that her ire out-

Try XD. twice that for voyages from the Persian put was more than Gulf and for trans-Atlantic of any

cruiser. A present-day

bualness, but the large hunts Neuter.

of tankers collecting in the Caribbean tres enabled char-

terers to for: rales down for voyages to U.S.N.H.

MEDIUM SIZED

Train

26 20.20 1039 0.10

50021.15

Flying Car To

Star Ferry Youmali

101

C Light

Electric

A Lendon amajor charterer Beat Traffic

was reported to have fixed

several large funkers from thei

Persian Gulf to Britain-Europe-

Mediterranean at Scale minus A

London, March 18. LIGHTWEIGHT flying

A per cent. The same char-car fitted with

heli-tecon

terer also fixed several medium coptor rotor to beat traffic Tel sized vessels from the Carib-jams by flying over them Lean to U.S.N.J. at Scale minus was forecast here today by 47 per cent.

Mr H. Potter, president of INDUSTRIALS still are

The the British Plastics Federd- from

Persian Gulf and there are one tion...

Italian charterers

opcḥ for loandge

or two requirements to US.N.H.

and California.

A

*

105 3.23

#7 100 PA 103 0

COUN

17 1401000

10.30.

26.00 20.00

2300 10.00

600 620,50

Estate C70a tiên trên

thiek Apr. .... SINGAPORE

The market opened

steady

on good track buying and ruted generally steady at the higher level..

No. 1 rubber per Ib. Apr:] 064-01 No. 2 rubber pár 15. Apfi 11-20 1.03-3/30

No,

15 B54-09 21-5/16 No. 4

-281-3/16-2.01%

2.722-2,72-10/16

19.377-40.375 11.30-11.2017 20.04-26.08 73.06-12.8 12.10-12.101

Chera unehREJ.-U.P.L.

RUBBER

NEW YORK

Rex rubber futures oduy cloud 32 to 60 points higher 1000 25.00 with sales of 30 contructs.

1600 ut 24.50

LONDON

31

31.00

32.00

31.05

Spot matre bobaled

Nu pale erepe.

METALS

NEW YORK

Frieca of mttal futures closeri lungy in cents per . s ful-

2725-80

Lend

Alur.

11,00LF

May

11.355

MAY

[0.355

U.PL

Copper

Tin

Mar

33.500

ASAN

Mar.

..Ch 101.871Gb

May

101.75 t

LONDON

COTTON

NEW YORK

Prices of cotton futures closed today as follows;

Spot: 136 nom.: May: 25.41-13; July: 34.00; Det: 32.30; Dec: 32.51; Mar: 31.08: May: 31.92: July: 30.09.

NEW ORLEANS

Prices

of metals closed 10- duy at the end of unofficial afternoon ression, all in sterling per long ton as follows:

Tin ipat

Cinonth

Copper pant

3-month

Lead 2nd half Mar

Leed 2nd half June Zine 2nd halk Mar

Prices of cotton futures closed End helf des today us follows;

MAT: 31.95

Epot: 34.00 May: 39.41; July: 24.63; Oct: 31,27: Der: 33.008; May: 31.90 July: 30.33.

LIVERPOOL

Cotton

future closings, pence per lb. were as follows:

American Contract

March/April

Mity/June

July/Aug

Out Nov.

Dec/Jan. March/April

Mixed Contract

March/April

23.14

-10.09

10.07

May/June July/Aug.

Del./Nov.

Det/Jan,

in

Duyers Sellers

702 78316 2010 23014 24832% 248

-U.P.I.

SUGAR

NEW YORK

World No. 4 sugar fulurès to- day closed unchanged to up oạo point with sales of 301 contracts.

Domestic No. 6 sugar future closed unchanged to one, point lower with sales · 242 can- tracts,

Contract No. 4 (world)

2000 ... 25.08

21120.70

Closing prices;

0.00

24.40 20.00

500 2420

Mar.

2997 6 24.60

May

July

20404:5

Sept.

24

Nov.

Cement

24.40 20.30

Jan. Mat.

23.00

the

STORES, ETC. Dalry Wation

1850-18.40 1300

Tho

Was

steady with epot quoted at 20

pence per lb. Prices;

141 14.00

141%

No. 1. Pay spot

Bettlement house term:

3.80

iboo

April

500

MISCELLANEOUS

Juno,

Vio INVEST Int. Iny Allied

Aprije

204-262

4

| July/dept.

2011-2014

tjefërmi inkrkota, wil daste, poría:

Tolal sales were 17,034 bales, -U.P.I.

Nov

These "auto-helicopidfs" were There was de new inquiry a logical development of in the perlad charter section light construction provided by

was re- plasiles, he told the federation's '13

Craw and only one fixture ported.

Thai Was large onnual meeting.

COTTONS ienker for six or even

Textile The car would have the rotor | Nanyang secutive voyages from the Per-

Gulf to the sian

Continent on fis roof to be opened out to at make it airborne. The engine commencing end-February Scale minus 61% per cent on would also drive a propeller at account of German chariorors. Die back-China Mali Special.

Con-

FFI

May

rubber, market

2004.05 | Mar, April and May

Starch/April

SAO PAULO

Prices unquoled today,

·In

Mayi 504; July: 311; Sept: 339; „Osi: 431) dan: 123 Marele: 331: May: 356, July: 355: Brot-renta per tb, tob Cubai; 303; Open latz- the United States, the average jest: Und contræelt, 2013-2021 price of one-inch cotton at 14 2011-2013 | dezignálód spot markets 20-261 34.30 cents.

was Contract No. 6 (domestlo) ́

Barden he; Cu...

Calif. Packing Corp. Campbell So Co. Canadian Pavlite it. Case J 1.) Ch. Cat, Tractor... Celanese Corp.

Chare Maint. Rank

I. T. Financial Corp. Chrysler Motors

Cluct Peabody Colgate Palmolive Co. Colonias Carbon Co. Commercial Credit Commonwealth Elec. Consolidated on 411Mental Olt ut Del

Crown Zelierbach

were Cuban Auer. Sugar

Diamond Gard bond Douglas Atteraft were Dow Chemica

Dupont de Nemours Ecstern Atrilne Eastman Redak

Gold stocks Were higher. Coppers

advanced and other base metals wero Arm-U.PI,

Closing Prices

London, March 18, Closing prices on the London Stock Exchange today were:

Beltic

£64-1/l

Gitedged Honda

Transport 37, 1970/89–

Cunol 20 - £51. Conenli 12-£7475.

Converstuni Loan, 3. 1009-

£60-3/10.

Funding .Lawn, 3. 1050/08-

£63-11/10.

Funding Block, 21952, 1900/2004– €73-3/10.

Funding Loan, 17. 1000/00-- £2-16/10.

Savings 3%. 1093/65—CKZ1⁄4%. Savings 36. 1900/75-281-91/18. Savings 34, 1963/75–78-13/18,

Hanks

*

Barclay's Bank. "A" Ltd. આ ધ્રુવ.

Chartered Bank-45a 34. Hongkong-C431

Insurance

ord-

ton Insurance Cantan-£46.

Aircraft Motors Btitials Motor Cum Oid-198, Fund Motor Combis od.

Breweries

Dillers Co- 3d.

Building & Materiais Atcelated Portland Cement

514 Ou

72,nehls Jchnson Auroclates Ord- 10% 34.

C, Steel & Engineering, Bahcock & Wilcox Bid-60s id.

Food & Tobacco British American Toh, Co., Ltd 336 od

unperint Tobacco Co, Ltd-57 Nu.

SEPTLENCQUE

B Oxygen fäß. Onk-dis 100, Canadian Packie Bly-150. Demop Rubber Com254. Hongkong & China Ga-151 01. Imperial Chanical-

yonyCo-76#. Unilever Lid—g90 7154.

Paper

1950.

Bewater Paper Comp. Org-43% B.

Rádia 44 Klectrical Associated Electrics)-20# 30. cfscirtcol Musical-001 öd. English Bectric Co-634 20. General Electrļo--318. 33,

shipping indo-China Eteam Nav. Co. def.

El Paso Mali:) GA Family Finance Corp. First Nat. Cs Bank jord Motor ...... General Bynumle General Electric General Fosilk

General Motors Gen. Pub, Dil.

Gen. Tyre & Rubber Getty Oll

Goodrich D, F, "Co. Goodyear Tre Grumman Atterat Gulf of

Hammond Organ

Homextake Mining Co. Idaho Power.. ingergol-Band Interclinical Corp. Tall Frames atüchines

1 Harvester...... International tick International Paper Int' Tai Tel John-Manville Co.

Audit

Kalker Indisktry Katras C. Power & Light Kennecott Copper

Kimberly Clark.... Liggett Myers Tab. Cd. Lockeeed Aircraft Loews Incorp. Lone Star Cement Co Lowenstein & Sons, McDermott 3. Bay McDonnell Aircraft Stock Exga.). Minnesota Mining Mission Development Monsanto Chenileal Co. Montgomery Ward. Motorola National Bival Co. National

Reg. National Daily Flod.

National Stez! Corp. New York Central Neifolk & Western Ry. North Amer, Aviation nekorineworks Alenmag deplaya

Otis Elevators ..... |Owen-Illinois Glops Oxford Paper Co Pacifle Car & Elec. Pan American, Airways | Paramount Pictures

Penny J. C. co. Penn, Salt Co.

Pbilip Morris Procter & Gamble Co. Pillapurah Plate Olan Publicker Industries Pure O11

Radio. Corporalion Reynolds retss Shell Oll Co. Safeway Stores

P. O. Steam Navigation det. Saint (ex. Paper ord--324 94,

Starea

Great Univerál Bioten "A"—351. Marks & Spencer Ltd--57 1140. Woolworth W. & Co-12 IV1⁄2d. Textiles

Conta, 3. 12. LiG-23 Od. Courtaulds Litton3de 30.

Mit

Anglo-American Corp. of South

Af 109 $0.

Cor, Goldalds of South Africa

693, 10154,

Cons. Zine Corp. Ord-Eiz 34, De Beers del-126# Ict. Frea State Development &

ment-02 Bd.

Hengkong Tin-ls ?otsu, Petaling Tin-Band. Rad801010.

Southern Käitä loud.

Beott per

Stair Q

Ruith, Cline & French

D

Apeony Mobil

Solar Aircraft South Puerto Rico Bugar Southern Co. (The .. Howthorn National Gas Southom Raliway (Com.)

Standard Brands Standard Oil of Cat. Standard Oil of Ind..... Standard 11 of N.J...... Sleep Rock (Turonto Expo.

Stokety-Van Camp. Studebaker Packard Corp... Bunshine Mining .......... Swift Co.

Investering Drug Co.

Cons. Lt2 Jexas Co.

**Union: Corp-8!a, Md.

West Driefontein Goldmining

21 Od

West Hand Cong-240 4550.

Brital Domeo Petroleum Syadi. cal73 66.

Brillas

Bubnahgy Co, Li-4. Royal Dutch Petroleum-AIBH. Shell Transport & Trading-34 34.

Neufor.

Exchange Rates

Textron Inc. Thlokal Chem.

Tide Water Arm. Oll Time Inc.**** Tri-Cone Warranti Twentieth Century Fox Film Union Euide .... Unloa

Union Peche alway Untied Airerats - Volled Frull

Untied Gas Corp.

US. Gypsum

UA. Line Co. US. Rubber

US Smelting

U.S. Steel

U.S. Sice] ↑ F.C. P.F. Warner Bros.

Busara was done in the lood Waukesha Motors ***** unmazı

market Dr, Westinghouse Alt Brake rematèrig, es the following later:- Westingbone Electrio US., dellar (per 1)

1.3 Western Union PW), Co. Sterkog natte iper £11

15.30- West Va. Pulp & Paper 8, Beli 301 Kuriralan role, (ber. Cli 1. Win-binje · Stores Spol-ternis par

Indsorsen rupiah :(nur 200) 40 Worwerth (K), Wa NT: EX/S19): 430, Open interest: - Blusti, Licals (ie 100) ....... kim Zenith fradio. 4,049 contracts.-U...

Singapore (best) ****ZYKYČ