1959-07-08 — Page 9

Page

THE CHINA MAIL, WEDNESDAY, JULY 8, 1959.

London In West Having Vigorous HONGKONG

Buoyant Mood

London, July 7. With London and Wall Street setting records of share indices, stock markets today were in a most buoyant mood but activity was great ly restricted by heavy settlement day for the previous busy account.

นคร

a

Although the undertone. Batisfactory British funds were

practically irregular.

bonds were quie! but

Foreign

Greeks

ralled after a dull start. Dollar stocks were mostly higher la reflection of Wall Street.

Industrials

DUEL

Industrials were mixed good features continued to be Steel Been an selcctive buying. shares were a particularly strong market with gains of around one shiling. In stores, Gussies were B on tvidend hopes. Brew- eries were firm and fextiles dull, Properly shares met n selective

hire-purchase demand while finance shares made further headway.

Gold shares moved erratica)- ly and closed mixed, Coppers

fell in sympathy with the drop

In the commodity prlee.

monds were dull.

Dis-

Oils treaded Irregularly with Ultramar weak spot,

Rubbers held steady.-VII.

Closing Prices

British

L07-13/10.

Giltedged Hands

Transport,

Consels 2-52-7/10.

Contol 4 £74.3/10.

Conversion

Loan

07-1/10.

Funding Loan

£649/16.

1272-16/16.

Tuning Lean

£9016

Od

10719/13--

1900-

105DY GU

Funding Stuck 3, 1999/2001--

By SYDNEY 5, CAMPELL

London, July 7.

LONDON and Wall Street have succeeded in get-

ting rid of much of their feverishness without losing their underlying firmness.

Both countries and most others are having a vigorous business revival. Britain's balance of payments is doing well. America's is not but Its troubles have been exaggerated.

of

exports As United States goods and services have fallen to five per cent of the national

When

wcre

and Italy expansionlit

Germany pursuing alleles before the war, external trade was more important fo them thin it is lo America right

output while imports have risen to the rame five per cent, the United States balance DfT BOW.

ments is in bad shape.

Business

Revival

quarter of this year ure recurrent.

The transformation of money

non- are at the peak levels of the

closing phase of the last boom Bond ylalds and other long rates are above that peak.

Because of the charged also 1907 and

time atitudies since because of the passage of which has mopperi up more

STOCK EXCHANGE

Our Own Correspondentge

Business done on the Hong- kong Stock Exchange this morn- ing amounted to approximately $1,100,000. Noon quotations and the morning's transactions.

Shares

Buyer Seller BANKS IK Bank

040 030 at Alo 10

INSURANC

Unton

of

mies which attracted short term capital and revived the United States golt stock in a continuing factor. To the extent that the Send only to Hussla, whose Americans and Canadians have Western trade for all the bally-bitten the bullet by bobsting the postwar liquidity it may be Previously, the United States hou is about half of Switzer- their money rates while Europe's that rules should go higher still had La large export surplus land's, the United States is self- were falling, they are entitled to before they and a new equili which covered its varionis give-melent.

the ensements Just as was Bri-brium. away. Now it has not and the

tain in 1957. giveaway still continue.

Significance

Doubtless this has some signi fiennee but the real significance is that each skie is still only five per cent compared with about 23 per cent for Western Euro and Canada and nearly fifty per cent for some individual Euro- pean countries,

It witt sink or swim not by the external sive per cent but by the internal 93 per con--that is, by its internal policies whith happen to be much sounder them isually credited.

Windfall

The windfall of German and other capitat payments which

rescueil the United

States balance of payment in the first

than one

But if so, it might be the last swing of the pendulum Exist- Even It. the true pressure on ing rates which are historically so high for North America may New York money and gold is much more serious

prove to be rather above than Washington below the average equilibrium believes, the authorities by allowing higher level over a period of coming | money rates

However much further are applying years. nature's remedy. At this early the New York rules may have stage, of the recovery the New to go, one should not ignore how York Bank rate and other short for they have already gone and dbne-China money rates and the Federal what that has Roserve's pressme on the banks Mall Spedal.

NY STOCKS HIGHER New York

IN LATE RALLY

New York, July 7.

Industrial stocks came to life just before the close today

to the accompaniment of late tickers.

ilst

whic

and

Goodrich (1) Co.

Goodyear Tre

Heyden Newport Corp.

Tan Husnon Beig.

industrial The

most of the staggerd through

weight of under the AUSSIOR profit-laking but just before the close demand developed for General Motors, abetid more than three points. This touched off buying for other industrials, bringing the whole list up From its Jur the day and

minus sims

Idaho Power

Imperial Ou Ingersoll-Rand

Inland Steel Cu

lows Interchemical Cup.

Int'l Business Machines converting Int'l Horventer

Into plus International Nicke The ralis up to the late Inernational Paper industrini rally had been the Int'l Tel. & Tel

1960/20

many signs.

Baving 3 2935 63-291L.

Savis 3re. JP00/70-12,

Savings. 196/73-77-3/16.

Banks

Barclay' Hank "A" Lid ard-675

Chartered Bank 4 d.

Tungkung-£54.

CITY LIGHTS)

CUSTOMS

"Any

invisible imports,

str

London Expreat Service.

Union 44-10/32,

Insurance

Insurance

market feature with suins running to point or more in some of the leaders. ralirond average

hilt High since August 1950.

Youngstown, which WIN

the around a point when

session up around

Wheeling Steel was up more than a point but the other truders Anished lower,

100, Publicker industries

151 Pure Ull ........

2011 Radio Corporatina

Cotton Market

New York, July 7.

Ixion

100 * 771$

28 704

4

200

Lombard,

SHIPPING Waterbout.. Wheelock

33

0.20 1.45

DOCKS. ETC.

K. Wharf Dock Provident LAND, ETC.

Talkoo

BX Hotel.. HK Lanú

100 0 20%

100 + 783%

200 13 7700

RANSPORTA

Pago 9

Rolls-Royce School Provides

Jet

Engine Training

IN twenty-one years of operation, the Rolls- Royce Aero Engine School has been attended 300020 by aviation specialists of sixty nations and by military men holding every rank from air marshal to private.

300 3000

0.20

100 44

1270 12.00 3100 12.70 Among the more than 37,000 J11.73 500 or 31,78 | students who havo completed

20 20

the special courses at Derby, S.S. United States

Airlinea

England, are a substantial num- 3411 30 1030 3434 ber of Scandinavian

4200 4 System and crew members.

40 3445

Jel 340 341 The Rolls-Royce R.A. 29

engine--developing up to 11,700

Completes 7 Years

1.00 1.023 1000910pounds of thrust-powers SASHE... UNITED STATES

Humphrey Jily

15,00 10.10

RUBDER

Amalg

2.00 2.575 45000 17 2.978

1.000 3.825 1675 3.0L

Truxi

A. Tawan. 3.10 3213

Surgala ..2375

UTILITIES

.

Trom ..... 28.00. 28.70

Star Ferry Ymaati

new Caravelle jetliner. 50002075 JET NETWORK

completed her seventh year of operation when sho

SAS now operates the world's arrived in Now York an 5000 4 23 largest pure-jet network with Tuesday, June 30.

of 516-mile-an-hour Since her maiden voyago 200 29.30 Caravelles. But the first SAS July, 1032 the Atlante ner has,

50 29.70

110 121

112

114

C. Light .. 12.00

Electric

His fleet

200113 years ago. 100119

19 No 17.50

2006 11

in

personnel arrived at Derby two carried a total of 478,084 par}{}£}= gorn on 310 erotings. This is The Rolls-Royce School is equivalent to 93.3 per cent of her normal capacity on each trip. a record unmatched by any

part of the company's "before, 500 1740 during and atter" sales service 200 17.02 The students attending the 500 13.50

27.70 17.00 1200 27.9 intensive

20 Cotton futures finished Macao F. 10.10 27.20

INDUSTRIALS

with Cement

un-

STORES, ETC. Dairy

Watson

In Crow

COTTONS

Courses are them- 1000 27.00 selves experts plansing and 1000 27.0 key engineering personnel, pilots

27.10 and line engineers.

700 or 10.90

4466

400

34 3414

500

15.20 10.30

14.00

15 18,70 13 10

The primary purpose of the students 3411 School is to put the

Ento contact with the new type of "hardware." In other words, they learn from the jet engine

Leif.

500 10.30

At the close the Hat ruled

Textile

0.46 D 1000 B two to nine points higher after

300 a $1 this opening

morning

Nanyang 10.00 10.00 500 10.00 INVESTMENTS changed to a point higher, New

Int. Try. to nine Orleans closed three higher.

The far months turned higher on New Orleans and commis- ision house buying. Steadiness In old July was nitributed to the drop in the certified stock. Some longs in the old July post- tion switched 10 the 635 months.

ESTIMATES

long

Allied

..

0.20 6.40 4000

1000 W

0.19 0%

4.33

UK & FE** 4.278

Ιηνικά

.. 12.40°

Chicago Grain Market

Chicago, July 7. Closing prices all in cents per bushel: Wheat No. 2, red

for

other passenger ship.

This popular liner has carried passengers castbound 230,515 from New York to Europe, and westbound 246,400 passengers from Europe (Southampton and Bremer- Le Havre, including

10 haven in the winter season) New York.

without

A breakdown by clarees shows that the United States carried 154,472 rst clues passengers: 139.972 cabin class passengers, For the engineers, the School and 183,540 tourist class passen-

training in trouble- provides

guu. replace- component shooting,

In her 155 round voyages the United States has logged more ment and standard service.

miles familiarisation than 1,100,000 Pilots, after with the engine and its coin-once experiencing a serious me- ponents, go on to the Rollschental difficulty.

The ship holds the Atlantic Royee recommendations handling. This course le laught Blue Riband for the fastest cost and westbound crossings of the Allantic, which she established an her maiden voyage. She cross- ased from Ambrose Lightship to Bishop Rock in 3 days, 10-hours, and 40 minutes for an average of 35.59 knots; and made the re- turn run in 3 days, 12 hours, and 12 minutes for an average of 3451 knota.

by the company's test pilots.

The instructors at the School have an average of 17 years with Rolls-Royce, seven of them instructors.

TRAINING AIDS

Gruimen Alem

out

Gulf Oil

11971 || Radio Corú. Pret

minum Organ

D

Raytheost

20% | Reynolds Meinl

100%

|

Floïnewtake, Mining Cò.

43

40

Royal Bank of Canada 234% | Sears, Roebuck & Co.

Shell all

quiet another session today prices firm.

Tel

4035

Co.

417 | Sateway Stores .. 300

ᏌᏁ

Saint Høg. Paper

51

44 Schantry Inc.

389

30

Scult faveT

402%

Stelar Oil

56

Bith, Cline & Frinch

39

101

154

Saint Alteraft

Sony Mobi) o

447

30%

Scrutis Puerto Rico Sugar

Jean-Marrville Co.

01

Southern Co. (The)

Kalmer Indust

10%

Southern Nation

Gas

Kayson C. Power & fight

412

Southern Hallway (Com.

Kennecsit Copper

1061

Standard Brends

The | Khoberly Clark

GO

Standard Qit of Chi.

new

Liggett Meyers Tob. Co,

tra

Standard Q of Ind

Litton ind

By Tip

Standard Oil of N.J.

120

Sleep Rogk

off

Lockheed Airerall

Sterling Drug Co.

Jate

Loews Incorp

3015

Sikely Von Camp.

demand developed, closed

Lone Star Cement Co.

#21

Stunc & Webster

the

Lowenstein & Sons,

201

Stobaker-l'ackard Corp.

four polits,

McDermott J. Hay

Sunshine Min

42+

MeDonnell Aircraft

Swift & Co.

4242

Mean Iron Comp.

Textron Inc.

Thiokol Chem.

32

Minnesota Mining

24976

Tide, Water Akn, Dil

REL

Mimion Development

ZA

Munnank Chusical Co.

Time Jo

Montgomery Ward

Tri-Con. Warrants

33'

Motorola Inc.

113

Twentieth Century For Film

៥

National Biscuit Co.

0112

Union Carbide ....

140

National Cash Neg.

01

Unlun Oil of Cal

49

National Dairy Prod. National Lead

5114

Union Pacife Raliway

Estimates in the trade of the much awaited first government acrenge report to be lasued to- morrow, are running as high as

Spot

July High

Low

Close

123

United Aircraft

5221

10 million acres.

Sept.

National Steel Corp.

$71

Unic Fruit

352

Dec.

New York Central

30-22

United Gas Corp.

35

Match

|

U.S. Toli

7211

May

1971

100

15

Corn No. 2 yellow

401

U.S. Line Co.

Spot

122-129

5412

July

001%

US Smelung

33

Scut.

0.8. Steel

1049%

Dee.

114

U.S. Slee. 7 1.C. P.F.

March

117

in

Warner Bros.

411

on American Airways

231

Waukesha Motors

44%

4011

Westinghouse Air Brake

Liverpool prices closed changed to

-

Moy

1832

Rye 10 English points

44

Westchery Electri

1143

lower ut

Penny J. C. C.

112)

Western Union Tel. Co

37

079 to 853 American polos mier the New

York

July Scil.

volume

Penn, Salt Co.

104

West Va. Pulp & Paper

471

futures market.

Oats

Philip Morris

Winn-Dixie Stres

421

July

634%

to

Pitney Bowes

Woolworth K. Wh

Procter & Gamble Co.

NEP

Zenith Hadi

122

Grey goods

Pittsburgh Plate Glass

031

-UPL

were quiet but prices continued strong.-UPI.

Des

001

Buybeans, No. 2, yellow

Болов

slide" Cun

2214-

manually.

Sept.

Nov.

21424-ti

600.21 171.21

Jan.

21495-16

simulators.

March

217%

A working model

Barley,

Spot

120×1050

New York flour

200 lb. rack...

13.400

UPI.

Profit-Taking

Chrysler

and American Motors were two of the stocks which climbed

higher Into

late ground as a result of the rally. Chrysler was up more than one at the close. Du Pont finished up around three thanks

In a late spurt, which helped the industrial average,

Today's volume was 3,840,000 shares,

Of a total 1,243 shares traded,

933 were higher and 487 lower.

American Exchange

was 1,100,000 shares,

Bonds volume amcunied

$5,500,000,

Dow Jones closing averages were:

30 Industrials

Tolls

10

as stacks

40 tunds

Canton~-

"Aircraft und kuler British Motor Corp. Ord-13 M.

Ford Motor Co.

Brewer.co

Distillers Co--22 d.

Building and Materiale

Anglated

Portland Censent-00

34 Pinchin Jotun Azuetates Ord-

23 2144.

Coal, Steel and Engineering

Babcock & Wilcox Ltd~A{{$.

Vickers Ltd.

b¥3= 4 t}•

Food and Tobacca

Imperial

aka.

Oxel-$10

Brush American Tobs, Co., Ltd-

Tobacco Co., Ltd-36

Miscellaneous Oxygen British Canadian Poclile Rly-4631%. Dunlop Rubber Co za Hongkong & China Ge 13. Imperial Chemical-35 7. Lyons Co-124.

tinilever Ltd-098 $150.

Paper

Bowalet Paper Corp Ord--82a 94.

Radio and

AFEOClated locketcar

Electrio Kuriens-420 SKE. Enguan Eleattle Co-439. General Electria-ala 30.

Comm. future price index

Abiti

Closing Prices

Pws, & Paper

Alden Ine. Aey.

Alpon

Steel Corp Chemicals

At Chaligers

Ain. Brake Shoe

American Airline Amarion Cyanhink! 10.

Am. Gas &

Iower

Atner & Fetric An Ikane Proxi

Ain. Mach. & Fúry. American Metal Am. Natural Cas American Smeiling Am. Sugar Ref

a Tei & Tu

Tob." Anaconda Copper Armco Sleel Armour

Cons, Mining

Baltimore & Ohla Dank of Montreal HoneЛcial Finance Bendix Aviation Corp. Benguet Cons... Bethlehem~61402

Baldwin-idma Flam

Boeing Airgine... Borden (The) Co. Burroughs Add Machine

British Amar, Oil

Calif, Parking Corp. Cana, BX, of. Comin

$0.

det Campbell Song it.

Case (J. I.) Co.

shipping Indo-China Steam Har. Co ord--ek.

P&O Sicam Navigation def ord --37% 140.

storo

Great Univerzal Stores "A"ht Marks & Spencer Co-323 3.

Lid - 11sd. Woolworth

Taxilios Cunts PL25-27 04. Courtauide Lid-30 0.

Dow

Anglo-American Corp of South Africa107 0

Cong Goldbekde of South Africa- TIK THA.

Con Line Corp. Ord-Gia 33.

De eers dom][(300.

Yrpe Biele Development & Invest-

men-d

Hongkong Tinta 101fd.

Petaling To-de

Itanda ki,

Southern "Kints Cone Lamäte

tem Cotp-6a 01.

Wert Driefontein

150 34.

Goldraining

West Rand Cons--249 2011⁄2d.

Dritie Dorneo Petroleum Synde- CAI-500.

**BRUK Petroleum Có.. Ela-bas ad.

Durma-83, B4,

toys Dutch Petroleum~~~21.

TULOY.

Shell Transport Trading-30.

Canadian

Lat. ITActor

Celanene Corp

C.LT Financial Corp. Chase Banhat. Bank Chrysler Mutors Clucit

Callbodyve Me

Colombian Carbon

Commercial Crestit Consolidated Edison Continental Ou of Del. Crane Co.

Crown Zellorbact Cub Amer, Eurer

Diamond Alkall

Diamond Gard Dominion Store Dougino Aircraft Dow Chemicals

Dupont de Nattourn Eta Kodak

Pas National Goa Family Finmare Corp. Tirestone Tyre & Rubber

First Nat. City Bark

Fund Motor

Georgia Panido

General Dynamic

General Electrio

150.75

43

کرتا ہے کہ

Naranda Mines Lith

North Auner, Aviation Northwest Airlines (Com

Olin Mathir son

Otis Elevatore

Own-111inuts Glans

Oxford Paper Co.

Pacific Gas & ENC.

Paramant Pictures

Parke Davis Co.

44

591

Yesterday's Closing

U.S. Gypsuni

U.S. Rubber

#

The government weekly wea- ther report was regarded highly favourable but market ources said it played very little part in today's" market.

COMMODITY PRICES

SUCAR

NEW YORK.

COTTON

Closing prices Closing prices all in cents per lb.

per ib.:

Contract No. 4 (world) Sept: 7 Oct: 3.70: Jan: 8.95; March 2.03 May: 2.04 July: 2.00: Sept: 3.02; Det: 3:03; Spot-il.o.b. Cubu) : 7,76.

Tulst Suic; 459 contracta,

Open interest: 8.555 contracts.

Contrast No. 0 (domestic)

Sept: 6-0; Nov: 5.50: March: 3. KISHT—IC:1,1: 14.5. ex-datiɣli 9.00.

Total Salen: 25 contracts.

Chigh inlere.t: 3217 contracts.- UPI.

March

May

July

SINGAPORE

33.78

33.70

35.45

33.25

20-9014

Closing prices all in Straits cents per ib. fo.b. Malayan ports: NEW YORK

cents No. 1 July all in

Aug No. July nuni.; Oct: 37.2 No. July Spot: 33.0

32.02; May:No. 4 July ..... Dec: 31.33; Marel:

ki: July: 32.41; Oct: 36.44; Dee 30.41: July: 34.80.

Spot, rubber unbaled Blanket crepa

No. I pale crepe

DOLLARISA

0411-009%

24-0134

DB-0014

10-31

100-100

NEW ORLEANS

LONDON Closing prices all in, cents

Closing prices all in pence per per lb.

Spot: 33.30, Oct: 32.14: Dee: 12.32.

32.79; July: No. 1 nm spot ........... March: 32.0: May: 32.42: Oct: 30.44; Dee: 90.41; July: Settlement house teem

Oct./Dec. 30.04.

- LIVERPOOL. Closing prices nil In pence

Jar/March.

2314-201

Apri/June

July/Aug

per bi

Oct/Dec.

American Contract

General markets, cas, basa,

July/Aug

23.45

21.23

July

MUL

Sept.

21.13 Estate crepe

May/June

21.40

This July

2140

Mixed Contract

1

Thick July

AMSTERDAME

July/Aug.

METALS

Oct/Nov. Dcc./Jan. March/April

| JulysAug.

NEW YORK Closing prices, all per lb.:

Dec/Jan. March/April

In cents sy/Jung July/Aug.

July

Lead July

11.400

BAO PAULO

Sept.

11.20

All unchanged.

Zine

10.10

Sept.

11.3390

534

Copper July

27.056

201

Rent.

Th July

100,000

021

Sep!.

103.00

مران اگر

At their disposal, in addition to the engines and demonstra- tion workshops, they have a iarge selection of training alde developed at the School. These 1922- include:

which

Exchange Rates

Engine models

on

West German Credit

every part is outfitted with To Greece For Ships

n push button.

When the

button is pressed, the name

of the engine

pari flashesHE first tangible result THE the agreement sign-

ONTO to a panel, as on nid

learning the nomeneinture.

new Jeled in Bonn last Novembor for the supply of credits by

and to iiiu: Government the dividual companies in Greece moving parts of this "super- has boon the delivery of a

Plastic operabie transparen- West Germany to the Greek

cies. When the picture is thrown on a screen by an overhead

projector,

be operated

naw motor ship, the Saronis, on the heavily Electronic instrument panel for service

overcrowded pasenger lines the of the from the Piraous to high energy ignition system. Saronic islands. Cutaway

models of the en-

The Baronis is one of a pair gine components, diagrams. of such vessels to be supplied Blm strips and movies.

by Germany on credit to the Two senior staff members Greek cobstal shipping com- maintain continuous liaison with pany concerned. Its companion the technicians working on new ship will be ready for delivery

Gcr Rolls-Royce projects, This en- in September from the sures that the material used in man shipyard.

the various courses remains up to date.

19

Business was done in the lndal Utfal exchango market this

An informal examination morning at the following rates:

1.74 U.S. döllər (per 91)

19.07

given at the end of sith course. Sterling notes (par

13.5M Over the years, the average Australan noter (per 21).

been 75 per cent Indoaçalan suplab (per 100)

mark has Clam Beals (per: 100)

high above a passing grade. Singapore (Sizalia) ....

4.10 20.00

Lockheed

Total cost of the two vessels The credit la DM1.4 million. has been guaranteed for Ave years by the Greek Economic Development Loan Organisation, at a specially reduced rate of commission.

Jet Stars Together

27.90-23.00

Average price

in U.S. at 14

designated spat markets

available. Total bales.-UPI.

gales 8,118

RUBBER

NEW YORK

Rex rubber futures prices, all in cents per 3.

All unchanged---UPI.

FOREIGN EXCHANGE

NEW YORK Closing rates; Canada*** England official 30-chy 90-day's

pikere unchinggil

LONDON Closing rates; New York.

Montreal

closing, DTURNA

Paris Vienna

Zuricha

10 1/2 231 1/4

15/zPrototypes of the aircraft Thoy have kemn stm separs

#31 5/16-281 5/10 1,01 7/5-2.08 10.00 /-10.00 3/8 143:32 -1/3-140,57372 17.00 1/2-13.00 3. 32.64-72.07

13.11 5/5-59.19 7/0 UTL

that in 1963 will usher'ta! the age of private execu- tivo jet travel, thao 609- mile-per-hour Jef Stars are cruising smoothly and quiotly over North Coor- gip's mountains and lakes.

ataly throughout the United States and Canada

since 1957 when they four engine production were first developed for

and military

Corporate uso, but this is the first they have been time

modela aro belpa manu- factured at Lockheed Air- craft's" | Georgia” Division .. at Mariotto.

LONDON Closing prices, all in sterlung

147

per long ton.

T

451

541x

in apot

132

3-month

Copper spot

LAKE THE ali

Gen. Tyre & Rubber

Getty Ou

Zino fat hait

General puds

General Motors

Den. Fub. Uta,

audioh D

3-month

buyers Seller

70%

1444

July

Blept.

Now,

Amelerdoret

photographed together in Flights

C