1959-04-28 — Page 9

TRANSPORTATION

RUSSIA TESTING NEW 120-PASSENGER

JET TRANSPORT

Washington, April 27.

THE Soviet Union is testing a jet transport plana that will be able to fly non-stop from Moscow to New York with 120 pas- aviation official said sengers a Russia today.

Ma) -Gen.

Air Altuche

Fmbassy,

Mikhail Kostick.

a!

Soto

Toir third An Chu

of Washington Out the Soviet. also have started a prograinme

to bulk 90 airports in their et.frent plan.

seven-year

20

Daf

the

deserited the new al- plane potr of a Bet with whigh Q Soviet Union intends to ed economy and cultural relations" with other nations Through rapte expansion Internation) aviation.

w trunspoi TU-114. Kostiak id met when i would rendy for service, He sud it would carry 170 la 290 passengers on sharter routes than the Mircow- Nes York run.

The

NO PRESENT ROUTES

Rend the United States mt at present have con- meeting civil or routes, and the general dis net diente whether Rustin hoped to establish them.

Kostbak

Wilk

London Stock

The

Market Higher

London, April 27, stock market closed

THE CHINA MAIL,

TUESDAY, APRIL 28, 1959.

Little Reason To Regard Dollar As Weak In Relation To Sterling

HONGKONG Wall

STOCK EXCHANGE

by

Our Own Correspondent

Business done on the Hong- kong Stock Exchange this morn- ing amounted to approximately $1,030,000, Noon quotations and the morning's transnellons;

Видтся Huver Belters Batex

By SYDNEY S. GAMPELL

London, April 27, The dollar has come to be more highly

regarded in the ivory towers than in the DANK market places. In Britain the National | Bank Institute of Economic Research sees East Asia. "little reason to regard the dollar as INSURANCE woak in relation to sterling," and Lombard argues that if the U.S. did over have to stem the outflow of reserves it could always restrict or deflate rather than devalue.

Abroad, the ECE escribes the

Europe's strength of

Teserves partly to a long-term improve inent in the competitive position but mainly to the recession, and thinks that if Europe had N

of the 1955-58 variety while the US, remained under- employed, fears of renewed dollar shortage might "replace the pre- sent stewhat astonishing .con- cern about the weakening at the dollar."

ارادا

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ستان

Street Industrials Hit

New Highs Before Late Profit-Taking

New York, April 27.

Industrial stocks climbed to now historic highs today before

late profit-taking at a moderate clip.

Some stocke took a sharp nosedive in the last half hour of trading. Col- gate, which ran up more than three and touched a new high during the session, wound up the day in lower ground,

Despite the pro-taking, Gen, Tyre & Rubber frustras finished ja ground with the

higher Georgia Pacte

Goodrich 18.P.) Co election, Goodyear Tyre

autos, chemilents and selected Grumman Aircraft

its and drugs providing a nimmt d ber of upside features.

The rally was a continuation of the advance which got under- Way on Friday after two days

13

315

ING

reluck

3.7 4.33 2000

4.70

10039

243 144

DOCKS, ETC. K. Wine:

(11

A

of

100 t

B

the

-Tavidear,

YCH

******

39% 10

11.40 11500 Talkoo. 30

LAND, ETC. #75 Flutes 244 24.30

UK Land 32.75

Bulophers

140 14.80

11.40 300 11 32.0$

Hérana NewpILL CHER.

Imperit Oi! .....

int greda akeal Cer

3nt Business Machines

it-taking. Brokers wild Intarvester Friday rally reflected re-

Intern, uprak Nurkel intergational Paper

Het over the fact the Federal (int" "Tel. & Tel Resolve had not ordered my

further tightening of credit re- strictions.

4001 Market Responded

| Really ... 1.875 1.60 con un

RUNKER Amule

The main bears of the dollar are not in the gold market or. anywhere else abroad. They are in Wall Street, and they take n lot of convincing. Absence of any normal bull market correc tien fer over a year may be un- nerving -- buf for the U.S. Treasury, 1

bull for the market. Instead of breaking, the bull ma et is spilling over into Trust constantly livelier speculation. A. Tawah which ampires

rather, Stingala allck-eget exbriations from

various US authorities,

It is not Europe that is in it- Miseri perit [1] nflationary Star Ferry paychology of either the 1955 or ¦ Yourasti

If the sky felt we should catch lurks. Menurwhile, it is the sollar that now needs the anti- argumenis, and devaluation some forbearance by Germany,

mo

irregularly higher today Brital and Japan. It was out the 1929 variety. While the two as traders continued to cxude confidence over the immediate business out- look.

with

Industrinda were active

mitrumbering

guins leases

[7422].

heavily

were

N Engineering, electrical, sided- Air Foreing thi Wiigia-Pulter.com

brewery shurts hase Chin, in World War Han connection with the lend-lease program and Bew mot of The Amerarios civil and military planes of that mees.

said that Russian rival avltion would mcrease la pas.

Textiles were mixed. stores showed up well,

of consideraten for the dollar that Britain refrained from r opening

regular forward market in goki,

Manee

sades of the D.S. steel and other : industries-lamber; up like witless cheaths for their mid-year Infintionary dendlock, h signs of American inflationary Germany's Surplus

the dest psychology include Germany, with the world's sizable American buying of biggest current external - Geman shares

1931; pius, refrained

Ameri- from some selectively potent Laking any U.S. Fold tast enn buying of gold shates and year, white Britain, took 3800 Tritish Industriais; the biggest million Ant several Con- | Florida real-estate boom s:tee tank the 1920's of blessed memory: countries millious

peak sales of gem diamonds and Japan gave her reasons

fancy prices for works of art. kold recently tapping the US

Weakness strek while gold could be bought cheaper in London, bet is un- make a habit 11. Hikely to Japan's reserves have now hit a postwar high, while Germany's do marvels.

best

tinental hundreds of

Priers of git-edged securities jhurdened.

mostly

senger volum six-fold by 1965. Foreign bonds were A ked later what the volare is now, he said he did not requi. Dallur stocks were arm. and empliusised – ficat-bu

WAN

Oll movert erratically

not a cled ave-tion "spectalist." pelosed, generally easier.

Boac Asks

Washi: gton To Keep A Promise

and

Holth storks were higher. |while coppers were quietly Biru.

---UP.

I

Closing Prices

Gittedgrd Bendi Hillel Tiam-port the-7/18. Cotsode 21, ADAT.. Console a

Conversion

Fundu

£IR-15/16

1

Ming Rock 27.1340

Insult

Washington, April 27. Boac today asked the United States to fulfil a solemn promise and issue a permit for it to operate a jet | Mi service through Tokyo.

Bae made its oppval in a brief lodged with the US, Civili Acromanties Burd, which i che lo hold an open hearing to- eontioversial

1 וננד

1130294 Tubye foule give,

Tuls

cost him ben

japanent in the

Northwest Air-

+Gy

1039/08--

2.7. 108/2004–—

11:00-

Savage 31, 1985/65- LM-15/10. Savine, 25, 1R7763 – £132 Savings J. 195/75 £70,

Futiding

Banks

Harclay's Bank "A" Lutel ord - Cla

tered Bank 475 Gd, Fengkung -£47 ta

Insultant

Er waren Camion - £4-0/iq.

Meervit and Motors British Mutor Corp. On15--14 (KL, Ford Motor C6-00% 34.

Breweries Justifiera Ch 25, 194.

Bad Afiteristi

Aarovlated

Portland Lasten-

lines, on Ametiren tros-Parific John: Associais Ord operator, which also led or

statement today supporting the

examiner.

U.S. Support

The British position won

Coal, htrel and Engineering Tinbeck & Wheux Lid–491.

Vicker Ltd--31, 50.

Food and Tobacco

British, American 76b, Q., LN--

3 ad

nippon from the Beard's 1. Imperial Tabarro C), Lid=50% [?? burcou

of

ulr operations,

which also filed a statement

Today urging that Beac's application should be granted

The Board ruled earlier this month that Tokyo had been properly added to the Borte trans-Pacifie

the route unter terms of the 1040 Angle- Americon bilateral air services agreenwent,

Bu on April 17 a Board examiner recotimended it was

Mirellaneou

British Oxygen Lid, Dub-bis 1090,

Canadian Puosie Bly-IG.

Rubber Co -276 46,

Hongkong-

for

to

#Fir

The serplies can point only

has been

HOWB

60% Mail Cum. Pet.

Hejale Seel.

OF UUT 10924 | Reynolds Metal

130

Hike Mining CO,

Power

41

13.

54

1107

Jedin-Memeile Cu

Kaer Indutry

15

Keanggit. Copper

114

lanket Ataaft

psett Mavere Talk, Ca,

17'

15

Loews Incorp....

31.

325

474

A

37%

160

4H

Loan Star Cement C McDermott J, Nick

Aircraf

The market responded to Mebesnell favourable economic and some optimisile foreerits. The rails and utilities were mixed on balance

generally

which acted

* a rein

market enthusiasm.

The feetronies, which scoimi some specineulue galos Jast

week.

were In the eight again. Zenith hit $1 high at a new top for the year. gaining more than 24 points.

Stock Eage. Minnesla Mining Mission Developsñení. Mensanto Chenilval Co. Kontenery Warth Naticaal Bismuth 476, Nutteral Dash Beg. “A Salloni Lead..... National Steel Corp. New York Central Notanda Mules Ltd. Firefalt & Western By. North Amer. Aynition Beth-west Airlines (UA

Ollur Mathiesena

Die Heyators

407

Hayal Hank of Canada Seus, Rorburk & Co Stan On Con...

Rodeway Stuter

Schenley Ind.

Sinclair 24........

Sun, 4 Frenet Steny Mobi Oil....

Sulat Aircraft

Southern Co. (The)

Southern away (Ca)

Standard Brands

Standard Oll of fal

Standard Ul of Ind.

Stating ( HỔ B

Sterp Rock (Tomato Exxv.)

Sterling De Co.

Sune & Webster

Studebaker-Packard Corp.

Sunsure Kining

Swin & Co.

Texas Lo

Tsitron Ine

Thinka Cherr

Time Ine..... Tom Warrants

Union Umbide

then Ou et Cat

Union Pacfile Radway

Bas itnite! ALTER

DS. Foal "#"

20

32.5. Sixpen

18632 (1.8. 10 Ch.

40s tube:

40

1.80

2.40

2.50 14,000

3,000

2-475 2,478

Z zij

305

2.075

2.40

UTILITIES

21.00 2.10 1090 7 27.20

GOU 27.10

100 u 27.90

100

$61 900

BOU K

once 13

S00

502

1850 18.40 2003 ...

Pacific Giri & 13 e

XP.

Pet Anterior Airways

12

200

100

16.50

18.40

Parunun Pleture

J

201

Re

13.40

Peter & Gazelle C

8.

1000

10:30

Punt WRA strong

The

Putshaugh Peete Glas

P

Elerie

27' 21.30

FISD 22.60

2000 17.00

200

chemicals, as was Thinkot.

Pront-taking

Vick Chemical lower in the druga,

Rach CorpOTALÍÐA

sent

bub Norwich Amerleau Home

Pharmacal,

Produel and

Fitot

nhend with

Landing steels" 1349

793 27.10 Macau E.. Telephone 231, 23.10 20 23.J

were

U.S. Steel, which holds its quarterly

tendrrow. meeting added better than a point. Du

INDUSTRIALS Comment 27.30 27

STORES, ETC. Datre

100+ 27.30

good gains.

XD 30 15.40

000 + 16.30

15091522 42 RX 503 + 14.24 14.20 210

1024 14.30

4.75 4.800 15.15

Nanvard

INVESTMENTS Int. Invest. 3.40 Alubu...*.

such mundane things an Waton..

suspicious weakness of sicel scrap, which known to be a barometrie | COTTONS At the worst of its rezent commodily. To sell shares on

Texter technical setback the Lorden i one or two Ber cent yield * prize held above the UN. basis you only need to find officiel geler of $86, and it an optimisi tu neil serap-fron rullied rather anartiy when

somebody has to find a user. special selling (which may have

Denmark and Australia--two been British and Swiss) ceased. countries which lately hod It has seen at least

awful foreign-exchange head- buyer, and it may see more. aches-have Just liberalised The coming enlargement of their dollar imports: they need the IMF quofus will take roidnot be kept cut by restrictions If of 11 they can be relied upon to keep up to £98 milion fram Britain alone, J the themselves

out by being 150 Landon cold prices goes up dear. Similar emply Restures only a couple of cents more, by Britain and other the outflow af U.S. gold could come any would restart,

Mail Special,

one bi

Yesterday's Closing

125

41-

Exchange Rates

| CITY LIGHTS)

| CITY LUNCH EAR

countries day.-China

Jucal Excesion was done in the unuliictal atxchange Marke! til morning at the following ratex:-.. $.72 V.S. dollars per 15.. Kirin notes (per £1 Avstralian notes (per R... Deinnesian rupiton por 300)..

5.20

Stam teals per 100)... Singapore (Straits)

26.45

1.82

"No, not rugger-pester- day someone bit my car

COMMODITY

FOREIGN EXCHANGE

NEW YORK Closing prices Cenada

England on

New Zealand

South Africa

Ouera unchanged.

PRICES

ONTORG Paper th

Puu. Sal Co. Pitney flow

US Steellad

S. Strel

US. SICH 7 8.0. PE Warner Brot..... Waukesha Matam

Westinghouse Air Brake Westinghaute ectric West Va. Pulp & Paper Winn-Dixie Steres

Woolwerth (1.W.)

Zenith Radis

22th

LEAVES U.K.

Sulied 3/4

Sailed 4/4 Salled 26'4 24th Apr. May

DUE B.X.

4th Mar

11th May

Jin May

1st June

21st June

20th June

Colgate, all

The autos were fim. General Motors, American Molors und Studebaker

were

nctively

traded. Carysler was up more What two at its high.

Today's volume was 3,850,000 shores.

Of a total 1,241 shares traded

wete higher

Americur Exchange volume

Bondu volume amounted to

P.OBI EA

COMPANIES

PASSENGER/FREIGHT SERVICE

PENINSULAR & ORIENTAL S.N. CO.

OUTWARDS

"CORFU"

"CHIUSAN" "COROMANDEL"

- "CARTHAGE"

"SURAT "PINJARRA"

"CANTON"

HOMEWARDS

"ITIMALAYA” *CORFU" *“SINGAPORE"

"CARTHAGE" "CANTON"

"CORFU"

**SOMALI"

17 May Cral June

LEAVES TIK.

11 p.m. 30th Apr.

p., 01 May

p.m. 151

5 b.

3rd July

DUE LONDON

24th May

Et June

May 211 June

5th June – 9th July

3 pan. 6th July, Gu Aug

Nuo 16th July

.. 31st July

a pum, 14th Aug.

lat Sept

Via Ruer, Penang, Culombo, trombay, Aden & 2. Äula. “SINGAPORE" & "SOMALI" emit Colombo and Bombay and extend to Hamburg, Rollerdam & Artwerp, ↑ "PINJARRA proceeds 'pore, Aden, P, Rain & London, thence to immburg, Ratterdam) & Antwerp.

́ ́BRITISH INDIA S.N. CO., LTD. ↑

Quoth May from Japan calls Bh May For Singapore, Penang.

"FULTALA"

Instead of its buit

kandon Expier Servier,

and

5431

**PINJARBA"

SINGAPORE

Oct.

32.62

After opening slightly lower the market ruled quie! with Hittle change in values, Futures:

No rubber per tb. May 97%-071; No. 2 rubber per 15. May 03-04 No. No. 4

Dec.

92.59

406

Mar

22.04

lower.

May

33,00

July

32,45

Oci.

31.03

was 1,000,000 shares.

-U.PL.

X

Junic

$5,730,000.

Dow Jones

95:424

closing averages

*

were!

....

STEPLOTP

T

30 Industrials

20.87

19.22

101-102

PLOI

214305

4 bon

05.38

Conta. future price index

150,50

Spal rubber unbated 11.03_31/32 | filantat:cregis

No T pale tegem 3.80 11/16

LONDON

2.01 1/10

H

The rubber market was dull

SUGAR

NEW YORK

World No. 4. sugar futures

zu rall

05 focks

Then G-THREEZLONDON ROSY wil spol-quoted at 26: 3/10 dosed today three-higher-to-Closing Prices

"Usfertel Chemical-39%GİFE-

Lynna & Chmel 30

Unilever til 71a.

Bowaler Paper Corp Orl-40 94.

Paper

Radio and Electrical

Axuzinted Electrical

Electrical & Musical

English Electric Co-63 T General Electric-32%,

Shipping Indo-Chinn Steum Nav, Co, del ord not in the public interest ofbel. the United Stales to Brant u P&O Stram Navigatief or permit for operation of the-31 71set. route.

"Bone merely asks the in- 1 plementation by the Board of routes which have solemnly been agreed and promised by the Government of the United States to the Goverment the United Kingdom. In the Bermuda agreement," the Bri- Ush airline said. Reuter.

KLM

of

Drop Out Of European Merger Talks

KLM

stores

Great Universul Stores “A”---37%. Mark&Spencer Lid-2001 9. Woolwertii F. W. & Co-62× 30,

Texilier

Coals 14 P Ltd-24, DJ, Courtauki Lala jos.

Mine

Anglo-Aruesiçan Corp Africa-171 30.

of South Cons Goldfields of South Africa. -65 71

Cura, Zlac, Corp. Ord-601 3d. De Beers del

Free State Development.&. Inveit- mont-Kl

Herekon, TH

Th.

Petaling Tia-6 10.

41-78, Del.

Southern

` Casto

Union Carp---2 Ja, West Driatentein

1351

Oil

ComLid-223.

Goldmaining

West Hand Cons-23

British Borneo Petroleum Byndi. British Petroleums Co., Lad-501 Ermal-83 7440,

Royal Dutch Petroleum-R15. Shell Transport & Trading=1337.

المراد

The Hague, April 27.

The Royal

chie--850. Dutch Airlines, tonight dropped out of secret talks here simad at merging Five European airlines into one, it was officially an- nounced.

The four other airlines are Air France, Sabena, of Bel- glum, the Italian Álltallo and West Germany's Lufthansa.

A communique said the talkn

Refer

Clesing prices.

New York

Montreal Amsterdam Frankfurt Milan

Parla

Stockheim Vienna

four points lower with sales of 2314-2014) 197 contracts. 2016-2014

pence per 6. Prices:

2.011-2.817

No. 1 sa spot 2.701-2.11

Betsiement house terms: 18.03-10.43),

May 11.78-11.70%

Jurie 1740-174842 Juty/Sept. 23.007%+13,301

Oct/Dec. 14.30-14.57% Jan/Mar. 72.00-72.01

General morkut, eif basti, 12.15-12.18 May and June

Ealale crepe thin Junie thick Aloy

288 2015-201

28-1-28-12 poris: 2011-28 14

Zurich PedI

Others

RUBBER

NEW YORK

Rex rubber futures leday closed, unchanged to 35 points lewer with golds, of 90 con-

tracts.

July

Detuber

Closing prices:

May

31.05

34 23

31.10

31.00

33.00

for

November

January

March

Diminishing hopes quick settlement for the strike in several leading tyre making plants, and a resultant slow- down in consumer Interest i the spot market, kept prices defensive trum the steri. Spot Fiss was quoted at 334 cents.

оп the

AMSTERDAMI

Agreed Merchant today. Prices closed in culiders

Rates

› would continua without K.L.M. Swiss Francs Maximum Sell-

-Router.

ing 74-15/16.

The rubber market was quiet

per kilogram, clit. May as fol- Iowa:

No. 1 rubber

Na rubber

No. 3 rubber

No. 1 crepe

-9.7% buyers 2.72 knärern 2.70 buyers 9.90 buye

-U.P.J.

COTTON

LIVERPOOL

Fricas closed as follows:

American Contract

May/June

July/August

October/November December/JonuBry March/Apell

Mixed Contract

May/June July/Augus December/January March/Apd

88382

គូ

closed Domestic No. 8 sugar unchanged to 1 point lower with sales of 352 contracts,

Contract No. 4 (world)

Meys 2.00; July: 2.07; Sept: 300; Oet: 3.02 Jan: 538: Mar: 3.15; May: 3.13 July: 3.17; Sept 3.19; Spot- teents per b. fob Cuba: 250.

Open Interest: 5,245 contracts.

Contract No. 6. (domesile)

July 8.72; Sept: 5.00 Nov 5 87; Sp.1-al PET 36 CƯ

duty: 3.70.

Open interest; 3.010

U.P.J.

BỊ

contracts

METALS

NEW YORK

Closing prices were:

Abitibi Power & Power Aldes Inc. Aty. Algoma Sirel Corp. Allied Chemicals Aed Ale ne. Allls Chiliners Am Brake Shoe Antelican Airlins. American Cable & Radio

Corp.

American Syanamid Ca Aine:, Fore Power Amer. Natural Gas Am. Gas &, Ficetrie A. Home Prod. American Metal American Einelting. Ameilean Tel & Tel American Tom. "0" Amicorda Copper Acinet Attes Cura. Mining Zaldwin-Lam-Hamil Hailimota & Olio Bank of Montreal Benereal Finaner Bendix Aviation Corp. Dettrichien Steel

Hoving Airplane Borden (The) Co British Amer. Oll British Columbia Power Burrouging Corp. **** Add Machine Calit. 1

Campbell Soup Co._..... Canadian Bank of Torom. Canadian Taelle R.

Cake 13. I.) Cv,

ET. Financial Corp.

10,95h

11.170

.31

ม.

Chase Manhattan Bank

31335

31.00%

100,02%sh

100.371

Prices of metals closed today sterling per long ton as

Lead

May

21.00

July

22.03 Zine

May

July

130

Copper May

July

NEW YORK

Tit

May

July

Closing priecs were:

LONDON

8pat

F7.19

May

$3.09

July

24.03

Okl

32.84

Dec.

follows:

Mar.

MAY

Tin spot

Det.

31.50

3-mont

NEW ORLEAN Closing pricre were;

Spot

July

23725238

Lad and bell p

71

7241

My

51.00

Zine and half April

July

موری کی

Copper Boot

a-motth

Buyers Betlera

7042 2043

Chrysler Motors ....

Civett Peabody to Colombian Carbon Cu, côn Commercial Credit

Contnonwenlik Elec. Consolidated "Edison_ Continental Off of Del. Cuban Amer. Sugar... Diamond Alkali Diamond Gard

Dominion Stores

Douglas Aircraft

Dupont de Nemours

Eastern Airlines

Earthien Kodak

El Paso National Gar

Wirestone Tyre & Rubber

Ford Motor

GRANT "Dynainles

Geberal Electric

General Fooda

General Motors

33%

"SANGOLA❞ due

17th Aug.

1st Sept,

5th June from Calcutta, Rangoun,

Penang & Singapore walls eth Jitno jot Japan

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

{"URLANA"

"ORDIA"

"OBRA"

“UMARIA"*"

in Purt

Balls 29th Apr

Que 3rd May

našla til May

Aú Cth May

alis Gth May

Aug 11th May 12 May

from Japan for Singapura, Dubali Kuwait, Brateli. (Chur- tamaḥehz de Karachi

from West Coast India & Straila

for Japan

from Karachi, Bomboy, Cuchin, Tuticorin & Ningapore

for Japan

מfront Japa

for Singapore, Penang

Bombay, Karachi, Kuwait, *Besrah Khorramshahr

EASTERN & AUSTRALIAN S.5. CO., LTD.

"NELLORE”

dus 26th Apr. from Australis

ails 30km Apɛ.. for Jupan

“ÉARMALA” loads 21st MaY

galia Mind May for Sydney & Melbourna DIRECT All vessia have, uberty to call us any ports on or not the route & the route de sailings ara subject

to change or amandment with or without-nolics.

For full particulers apply to: MACKINNON, MACKENZIE & CO., OF HONG KONG LID: Telephone Nos: 27721-4.

SAMG

*