1959-08-19 — Page 9

Page

THE CHINA MAIL,

WEDNESDAY, AUGUST 19, 1959. '

BRITONS SPENDING MORE

London Closes Higher

London, Aug. 18. The stock market closed irregularly higher to- day on restricted trad- ing.

were

invier

A Sure Sign Of The Country's Healthy Economy

the

pro- thair

London, Aug. 17. Someone has only to hint that

economy is doing fine for the fossional Jeremiahs to start doleful prying. I suppose it's a of economic hypochondria.

HONGKONG Caution Rules

STOCK EXCHANGE

Our Oil Cofrespondent

Business done on the long- kong Stock Excharge this morn- sorting amounted to approximately $1,495,000. Noon quotailons and the morning's transnationa:

Kales Blures iluyer Sellers ANKS

A SH Bank.. INSURANCES

Union

It's happening in Britain at that generally peaking prices Industrials were mixed. In-

lower than in the

Economically are somewhat moment. store terest was centred on

adjustment is shares following Proser's upping speaking the country is as well 1958, and when

inade the result is the surt of for a long Shares set as it has been the ante for Starrods.

time. Prices are stable here progress one might hope for in were Barrowly higher, Steels

of price-cutting), a healthy economy. outs even talk mixed but gains

Nor should it be forgotten that numbered losses in engineering, unemployment figures are drop-

ery day and signs of but for the high demand in the and shipping ping aircrafts,

goods Industry the prosperity are pinin to see parti-consumer issues.

slackness in the capital goods Over- the elastic cularly in

sector would be a great deal of roads by private crowding

mcre obvious. motorisis,

CUM- acen shy of mentators have

"Dm" using the description but ly because of its earlier sinister associations with inan- tion.

Gold shares were quiet with no decided trend. Coppers were dull

other

but steady.

Admittedly base metals held

main-

Uilk were thrrowly mixed. Gin-edged securities tained their recent strength,

Greek und lost further ground in a qufet foreign brad!

Dalkir slocks were market. lower.-U.

Closing Prices

filledard Hands

Transport 3. 1974 CHE

- 31/

Lan 30.

131話 しょっすり

£

Console

Cousels

- #54-7/10

Conversion

Fanthong Stock

1...

11/

Frondboug Leart J.

Sange $ 93 434 400-15/16. Savings 2. CAZ-3/0.

Saving

9. 195/75 1979.

This of course is all very u

for Eite setting

prophets or Something somewhere 1:korun.

And they say must be wrong. casting around for flaws they seize in the beyant retail sales

index.

Too Much

The man-in-street they then anaounce is spending too much to quickly on consumer goods. And they act with thinly-veiled relish that he is doing it by way

fire-purchase.

The man they then set up is enlculated to give the impression that the long suffering British Harclays Bank "A" ta ordblle have thrown their bats

Maks

" Hank

Hongkong

L

Umon Instance Canby

Aircraft and Motors

British Modric Corp. "Kit Motor Deals Di+iller 201

Bet

£99, On 15

24. Building and Materials

PR Cerchi - 36%

Asmiclated

Coal, steel and Engineering. Halwork & Witros Ltd - 62% Vickers d 32.

Food and Tubacro

Battle American Fish Co., Ltd 品

Tolace C. Ltd 579 Miscellaneou

Hodan Marden 15 3 14

Derrial

shet

Bath Oxygen

Ciation Purine ty. 1517.

Dunlop Rublay C-24

th

Hompkone & China Gas-19

Imperial Chemical-39+ 7yel

LYR & -75 3d.

Untever

did.

Paper Bowater Paper Cors [154].

Ord-43

Hadio and Electrical AskLatex Flectrical-dis ba

1.

Electrical Mix 15% 1.

English Erettle

General Elect-37 N.

Whipping

Indo-China

[3]...234 1

Slette Nay. Co, det

P&O Stenni Navigatim def vet

Hlores

Great Universi Stores "A"-de "Marks & Spelwer Lad-505 3

Woods at the

Textiles

Cont: J 201d. Courtaulds 1-10. 3.

miner

Anglo-America

Africa 1954 30.

Corp of South

Cans Gokleton of South Africa-

Bis 7.

Orl-62

Con. Zins 1.

De er def.

Free State Development & Invest.

ap-11 De

"Pinkong Thơ là 7.

aling Tia-GM.

Na-102 0.

Houthern

1950.

107

in the air and embarked on a surt.of economie brechonatin.

Since an unquestioning accep- tance of this viewpoint could be dangerous, let us look at a few firls.

Effect

The apparent

effect of this forward surging is further en- lanced-in some quarters dis- worted--because it is being com-

ured with a time last year when Trade was beginning to stagnate. From inertla even the most ca tious step forward can look to over-anxious observers Uke a precipitan. oond.

Lombard SHIPPING Wheelock...

DOCKS, ETC.

K. Whart..

| Dock

13! 171, 40

61.35 10000 ... 6.30 3000 fì 30

102

44 4412

Provident.. 13.29 133 2009 6 1320 1000 13.29 27001

Talkou

LAND, ETC. 32 33

1 Hotel.. 2040 20.65

1K and.. 301% 3442

10.Ab

Go24.40

Sear 21

300 301

400

301

sen

XD 1.825 1.375 33030

Humphreys Realty RUDLER Amaly Trust

A. Tawal UTILITIES Tradi

C. Light

Firetric Mucun £

Tel ceni.

In more detail, sales of cloth- ing and footwear went up dive per cent, funiture Increased by (giving a needed 20 per cent allip to a depressed industry) and sales of electrical and radia goods bounded 29 per Thongs that last tire Is ap- The parently impressive it is wholly natural and nat 1:21 ~ healthy reaction to remove of inhibitors inposed by high pur- chase tax and tight credit.

21-270 1109.22.70

On New York

Stock Market

New York, Aug. 18.

Stocks suffered a new sinking spell today on light.

volume.

The lack of any real seiling pressure was a bright note in Well Street. It indicated the decline was more the result of cantion than fear.

301

Page 9!

RANSPORTATION

PROFITABILITY OF THE VANGUARD SHOWN IN SURVEY

Α

STUDY has just been completed by Vickers- Armstrongs of the profitability of the Van- guard turbo-prop airliner on both European and United States short haul routes.

| C1.T. Financial Corp....

Chryster Motors Cluett Prabody Colgate-Pamuflve Co. Colombian Carbon Co. Consolidated

Continental CM1 of Del.

Gr

Crane Ca..

The

in

Crown Zollerbal

5342

Cuban Ainer, Sugar

44

Despite the lack of selling

Indivithai losses pressure,

143

the main list ran to more than five points in Firestone, aratne 12 in BM, around four

Time,

Minnesota Gentral Mining, American Machine, and Foundry und Polaroid.

The malyals kept close watch of the railroad average, which drifted etoser to is June low. They fell that any serious previous penetration of this

level support

would be. bearish sign for the markel,

Today's volume was 2,280,000 shares.

Daze Aikail

Diamond Gard

Dieninian Storen Douglas Aircraft Dow Chemicals..... Dupont de Normalita Engeni Airline

Karton Koduk...

E D Natural Gan Family Planer Corp, Firestone Tyre & Hubber Ford Motor Co. ut Cana Ford Mufor

Gerla Pacie

General Dynamice

n

GenemĮ Electric

Or a total 1,303 iseues traded, 230 were higher and 747 lower, American Exchange volume

was 790,000 shares.

Bonds volume amounted to

General Food

General Motors

Gin. Pub. Util.

Gen. Tyre & Rubber Gelly On

Glidden Co.

Goodriel B. F. Co

Goodyear Tre

Grunaman Aireraft

Gull O..!

Homunand Organ

Heyatro Newpart Corn,

Dow-Jones closing averages Hatake Mining Co.

KANTIEL G

of caamination

Class

Vanguard in USA, domestic New Aircraft

service assumed

mile sector and

300 statute passenger

euvedlability of os few

את

264114

071

32

31

131

SUT

TI

as do Maintenance

people per fight in 1958, grow-

ing at a conservative 10 per cent NEW maintenance and

a year. These modęki assump-

A fault-finding play-back

tions give a passenger load of equipment, aimed at reduc

| 50,5 In 1902, which is taken as

401

801 1802.

GO!

07

ななちゃ

Be

1114.

411

the first full year of Vanguarding delays and hold-ups duo operation. An initial freight to mechanical failure in air- availability of 2,000 lb. in 1960. craft, has been produced by alsa growing at an annual 10 per cent, gives 2,928 lb. per trip in Surrey firm. It will be ox- hibited at the Farnborough Air Show (September 7-13). Jeg purpose is to serve as a tool in the hands of ground maintenance staff who are called upon to deal with a fault which hur developed in an aircraft in the light.

With these initial londe, and a revenue rate of 5.34 cents

st. muile, and 1.8 passenger cents a freight ton mile, a single Vanguard would make over 6% million dollars proft in an operating period of seven years. Airlines with longer average 214 stage lengths than 300 miles and with average loads greater in 1958, 40 passengers would, of course, make consider 409% | ably higher profits.

40

40%

07

BI

than

4023 3.03

29.00 20.70

Star Ferry

хо Yaumati

133

137 114

1114

18.20 19.31

20 1.43

1460 18.30

33000 34

LE

20.10 20 30

2500 28 20 $4,850,000.

300 29.20

10.10

Husman Netris).

28 30 255

were:

FOX

Idann Power

30 hxbustrials

(20.70

Emperial

10324,6 4090281 50

20

rally

192.13

Ingersoll-Rand

ut 52

Inland Sicel Ce,

INDUSTRIALS Comment

Metal 1. STORES, ETC Dalry

XG

slocks

217 2

Interesemleal Corp.

337

:. Пир

314

170034 100054

40 bond

.72

In's Business Machine*

Comun. Tuture price des

150.77

Int Harvester

414 [1

International Nickel

Internatiunul Poper

120

34

TURE 1740

Jeist-Muravsite Co.

15.70 24.8

1076-1070

21 21.40

3.5 300

19 70

Abitibi Pwr. & Paper,.

130

Kaiser Industry

Jaln

21 20

Aiden ine, Acr.

Kawan C. Poster & Light

1942

Algoma Steel Corp.

20

Kenarzett Copper

A 20

1000 w

Gas

Allied Chemitents

Kimberly Clark

67

10.40

Allied Mills Inc.

Lingell Meyers Tab. Ca.

MISCELLANEOUS

Alle Chalmers

342

El Tulp ..

Vibro

13 40

Am. Brake Shor

Litten init

FOGL

i

300 1314

American Airline,

INVESTMENTS

A. Cuble & Haside

Corp

Int. Invest

66

American Cyanotnid Cu,

Allied

2000

403

52

Loews Incor? .... Lee Star Cement Laventela de Sone. Mehom Airerati Mbl Iron CurD. Mámporta Buning

#5%

32

191

141

राम

Mission Develoviment Mosanto Chemical Co.

once

Mentamery Ward

4915

Sale of food increased by three per cent at the same time Watch:

Agure 1. Craw XD an impressive enough

well-nourished COTTONS for an already nation and one which indicates Textite

the fundamental living Nase To start with there is nothing that either sudden or feverish aboulį standards of the people are not da favour of what prosperity Britons are en-being neglected

Admittedly Joying a present.

the retail sales Index is up five per cent for The second quarter of this year. But at the same be remembered tne should

Britain's Industrial Expansion

"luxuries."

Bit in Teath

At this point the gloom mer- chants should interject some- thing to the effect that having let the spending public get the bit between its teeth there is no knowing how far it might bolt.

This can be countered by a significant statistic which shows that cartier this year when are was some fear of growing unen-

HK & PE

17 17.70 4300 17.65

Invest (O 12

BK & FE

Invent 12 31.10

Agreed Merchant

Rates

Canadian Dollars Maxlinum

ployment the rate of increase in Selling, 16-7/16; Minimum Buy- retail sales slowed down and Ravings figures rose. dicates a sense of proportion and

This in-ng, 16-11/16 TT., 10% D.

caution which glcomler pundits Exchange Rates

deny the public. So you 500

that the present London, Aug. 18.

state of Expansion in the eco-modestly prosperous

nomy of the United British economy is neither head- long-to inilation of Jezemlabs Kingdom - now clear- nor the dawn of an economic ly under way ... was Utopla of professional

likely to continue as the full effects of the budget were felt, the "Bulletin Treasury's

for Industry" said to- day.

A lot would depend on stable prices however, the

idded.

Bullotin

"Wages have recently been

Rina Long Lid-2 relatively steady, and since pro-

Tulen Corp--744 D.

We refontein

ductivity has now begun to in-

Goldinining-crease in a number of industrios,

Weel Hand Cars-22 i.

On

Labour costs pur unit of output

in these industries must have

Brill Barnee Patrolum Sync-fallen; a change

Cato 044 44d.

Bella Petrotrum Co., Lt.

Bustoah.

Royal Duleh Prizeleutte-10.

Shell Transport

-zieuter,

Trading--15.

Rubber Market Review

New York, Aug. 18. Rex rubber futures today closed 50 to 80 points higher on sales of 94 con- tracts.

from

carlier

years in which there was a rise

leuders.

Closing Prices

An & Furen. Power Atm. Gas & Electric Am. itune Prod.

Ain. Machr. & dry American Metal An. Natural Gas American Smelling Ain. Sugar "Ref. American Tei & Te American Tob Anaconda Copper Armor Stee)

Alias Cone. Mining Baldwin-Liina-Ham. Jintore & Unlo Bank of Montreal Beneficial Finance Hendix Aviation Corp.

Benguel Cons..

Hettilehem Stret Deving Asplane

Borden (The) Co.

Tel Tel

National Belt Co

¡CITY LIGHTS!

Huskies was, unotictal

dune 221

the local

Burroughs Add Machine

market exchange

Let

Brils Auer. Ou

morning at the following rates:

Calif. Packing Corp.

18. stoltare per !!

3.74

CA. Bk. of Conn.

Sterling matek per £11

15.24

Campbṛil Soup Cn.

Australian notes iper £1

12.61

Canadian Pacific 11.

cheer.

Tuteesian suplah ter 1021

ज.स

Case (J. 1.) Co.

Slam Beaks per 1001

2005

Cat. Tractor

SEE ALL

Singapore (Sirate)

Celanese Corp.

-London Areas Service).

Yesterday's Closing

COMMODITY PRICES

SUGAR

NEW YORK Closing prices

Mixed Contract

Oct/Nov.

Dee an

March/Apel May/June July/Aux.

Oct.

SAO PAULO

(Closing prices all in cruzeiro

per kilo). All unquoted.

in US. at 14 Average prles designated spol markets: un- 24 available

Tolai sales: 70,207

all in cents

Contract No. 4 (world)

Sept Out.

in wage rates not matched by a per b general rise in productivity,

OUTPUT INCREASE

May

The Bulletin sald encouraging Jan signs wore brood base of the March

the July output und Increase marked rise in productivity per i sent.

Oct.

man

In

Qubal Spot-il.u.b.

Total Bales: 001 ccmiracia. Open Interval: 8.538 contracta. Contract No. 6 (domestic)

adjusted The seasonally Agures for industrial production rose in the Arat quarter, and

Sept. again the second, the Bulletinov ecntinued: "And this expansion March has apparently been more broad- ly based than in the rise lust autumn."

In the first quarter the gain inon was in productivity per

our per cent and a similar rise was indicated

quarter.

Public Investment

for the second

was ex- Prices continued climbing to- day us the tight spot situation ported to be about £750.000.000 terling greater this financial The commodity ex- continued. change called a members' meci Year than in 1958-59, the Bulle-

tin sold.

are

оп a

ing next Monday to consider a "Exporta

rising petition against restrictions on trading imposed against nearby troud, in ine with the growing the and on world activity,

that this increase will be maintained, here

September.

The spot price for No. 1 Rss assumption

was quoted at 39 cents.

Spa-Ct. N.Y. ex-daly Total Sales: 004 contracts. Open Interna: 1,803

UPL

COTTON

NEW YORK

2358

bules.

METALS

NEW YORK

Closing prices, all in cents per

lb..

Sept. Oct. Zinc Sept.

OCE

Copper Supl,

-UPT.

E

*a

Sept

Oct.

RUBBER

NEW YORK

Rex rubber futures closing

-prices, all in cats per 1b.:

Sept.

Hos.

Jon,

March

May

July

Closing prices all in cents per ports:

The enssette from a flight and crash recorder already Installed in the airerait can be taken out of the aircraft and put into the playback unit. The tupe is then rewound toenting the point in GMT where the pilot has re- ported the onset of trouble, The In examining these Bgures it record is then replayed, and 1014 should be remembered that the simulated readings of the air- Vanguard is assumed to be used craft instruments are reproduced in a 120-seat toturist layout, so for the benefit of the ground that I would start operating engineer who thus has a com- 103ly a 48.5 per cent passenger plete and securate picture upon base his diagnosis. fond factor. This would leave which to payload avaliable for capacity After use, the record is wound freight in the 1,300 cubic feet on to the end of the last record- cargo holds of nearly 7 tons at Ing and the cassette is put back medium freight density. In fact, in the aeroplane.

THE FUN

"Couldn't have a better

view of the factory !

Londes Express Service

National Casis tog. "A" National Dalry Prúd, National Lei ................. National Steel Corp.

New York „Central Noranda Mines" Ltd. Norfolk & Western-Hy. North Amer. Aviation. Northwest Airlines (Comy.İ Ola

Ofis LÍOM ---- Owen-tikana Glass

Oxford Paper De.

Pan Amerkar Airways

1 275

61

the Vickers study usunies only The firm will also exhibit at about 14 Lons of treight, Farnborough tworking model initially carried in 1952-which, of the fight and crash recorder

for agnin, Is a very modest (MIDAS)

aircraft, an- nounced earlier this year. This assumption.

equipment is an electronic tepe data recording system which, will installed in an aircraft, bring about marked economle advantages to operators as well as making air travel even safer. Instruments Ltd.. (oyalon

CHEAP FARES

The rourn for expansion of passenger and freight traffles clearly considerable, and it can truly be claimed for the Van- Byfleet, Surrey, England). guard that while it can make handsome profts ot

modes Second Viscount For

loads and modest growth rates, It can also offer enormous scope for promotional netivities especially in the category of Economy Class fares.

Malayan Airways

Today, the second and last of

the Hongkong Airways Viscounts

Malayan

for

A previously published leaves, bearing the colours of the examination of the Vanguard ko

Airways Ltd., 138-sent Economy Class role Singapore, Hongkong Airways has shown that at 05 per cent have merged with CPA.

This well passenger load factor and

liked and trusted freight, the aircraft can make aircraft was one of two pur- a 10 per cent profit at promo chased by the Malayan Alt- tionn) fares up to 50 per cent

ways, and many of the Colony's cheaper than current European air traveliers will regret the dis- tourist rutes, and at 1 fre

appearance average of 20 per cent cheaper than current U.S. A. Conch Class (22 per cent cheoper on an examined rule of 300 st. miles),

A.T.A. COSTS

The basis of the Vanguard pro- Atability analysis is the A.T.A. formula cost curve for the dir craft, which at the 300 mile point 100 selected is 180 cents per aircraft

zu?

etetule mlie.

Pacifle Gas & Elec...

21

Paramount Teles

45

12.051

Parke Davis Co.

4551

12,53}>

Porny J. C. Co.

100

11

Peru, Salt Co.

29

11.496

Ndlitp Morris

30.06

Piney BowNCE

342

30.34-90b

107.37! 102.37b

Procter & Gamble Co. Pinburgh Pinta Glass

04

LONDON

Closing prices, all in steriing

per long ton.:

I'ublicker Industrias

•Puro Oil...................... Radio Corporation Raytheon

Republic Steal

leynolds Metal

| Royal Bank of Cartela

783 Saint eg, Paper

at the Viscounts

from Kal Tak torme.

Men who have been closely nasoclated with these aircraft during their past activities are travelling in Singapore to asslat (in training the crews of Malayan ‣ | Airways. Captain. Burman, to- gether with Captain Colvin, the General Manager of Hongkong Airways Ltd., delivered the first Viscount to Malayan Airways Ltd, a few days ago.

These Viscounts, proved over The years to be one of the most AT.A. popular aircraft in the Orient. tha! It is realised formula costs are theoretical, but Busineserien and people who had Vickers paint to the fact that to travel frequently much pre- with both the Viscount V.745 and terred them to any other aircraft, V.812, the actual and they did indeed build up a the Viscount achieved costs in the U.S.A. reputallon of worthineas and ro 11 have been significantly below the liability. Today marks the pass- A.T.A. formula costs for those [ing of on era the final dis- that appearance of the last aircraft of aircraft. Vickers belleve

a good reputation Hongkong Airways-but, at the the world for the same time, marks the entry of realism of their Malayan Airways into the jet

age.

471%

754 they have

93

throughout

32

Buyers Sellers

Sears, Roebuck

& Co.

integrity and

Te

Shell Oll Ca.

cost evaluations.

Spat

(ananth Copper Бри

1821, 703

Safeway Stor

7821

Beltanley Inc.

44%

2341%

2344 Scott Paper

30.00

3-month

234

Sinclair bil

47.00

Land 2nd half Aug.

7236

73

Smith, Cline & French

34.20

Nov...

74

off

35.05

Zine 2nd halt Aug,

DC12

35,00

Nov.

137

34.00

-I'E.

34.40

פיכף

081

NEW YORK Closing rates:

Canada England official

30-daya

.00

contracts.

Sept.

SINGAPORE Closing prices cents per 1 ro.b.

all in Straits

Maluyan

ib,

No. 1 Sept.

31.10

Spot Get

Oct.

32.00

No.

Dec

22.14

No.

3 Sept.

March

33.55

No.

May

July

32.31

Oct.

Dec.

account the

NEW ORLEANS

Boot rubber unhaled Blanket repe No. 1 pale örege

LONDON

nil in Closing prices

10077-108 100-100 107-1071 1991-1001 10412-10591 111-11 102-1045 115-1174

Ho, i nas splet

Bettlement house terin

peace

Australia New Zealand 3-31% Bouth Afries

Helgium

31 DT

Oct/Dec.

31.10

Jon/March

3011-20

Apri/June

May

32.70

July/Aug.

731

Det./Dec.

Oct.

30.30

30.32

rela.

LIVERPOOL

3076-304

Estate orope thin

Closing price

all in pence

per lb.

American Contract Oct/Nov. Dec/Jon March/April

July/Aug

21.32

AMSTERDAM Clocity prices all in guilders per kilogram, c.lf. Sapt. No. 1 rubber

Beph .. thic nept.

242

J

Aintercam Brukas

No. 2 rubber

31.40

No. 3 rubber

No,

crepo

In Singapore the market open-lely to be o mubstantial surplus

ed alightly higher and gradually on current

steadied throughout the morning balance of payments for the with good buying interest and year,"

some reserve of sellers.

Covering of past

sales to

concluded-Reuter,

Hussia and China contributed to Canadian Dollar

aloudiness.

Afternoon session

steady with well distributed buy- causing small advance,

ing

There was, some interest in Rss: September and continental one

Factorles Rss Augus).

quloter.

The London rubber

New York, Aug. 18. The Canadian dollar

on to the U.S. dollar rose again were today reflecting higher interest roles in Canada which are lur-

Investment marketing more

monty was steady with spot quoted at across the border.

The Canadian dollar wer 1/10 In Astindem, the merket | quoted at $1,06-9/16, up was arm today, UPI.

from its close yesterday-UPI.

31 neno per lb.

See how the flags fly

Shipping

·REGISTERED

S

IN THE UK.

TANKERS

MILLION GROSS TORS

14]

12

10

DRY

CARGO VESSELS

314-31%)

204-2912

297-20 General markets, elf, basis, ports: unqualed

FOREIGN EXCHANGE

Clong rates;

New York

Montreal

Seday Mob

Alrorbit

Souls Pueris teo Sugar Southern Co. (The) ..

Bouthern National Gas Southern Itallway (Com.)

Standard 2nd

Standard Oil of CAL. Standard Oil of Ind. Standard Oll of N.. Steep Rock

Sterling Drug Co. Stoke Van Camp. ButoWebster Studebaker-Farkard Corp

Bunshine Mining

Swift & Co.

Техля Сп.

Textron Ing.

Tiloket Chean. ..........

Tide Waler Ant. Gil

Time Inc..

Tri-Cont. Warrants

Twentieth Century Fax Film

Union Carbide

Union Pacific Railway

United Airmenft

Anited Frult

United Gas Corp.

U.S. Foll "4" ... U.S. Gyoou

A Line Co.

2.00-18/18-20)+1/10 | U.S. fubber

30.01-10024

US. Bmeiting U.9. Bleel

US. Sicel 7 P.CPP Waukesha Motors..... Westinghouse Electric Werter Union Tel, Co. West Va. Pulp & Paper Winn-Dixie Stores Woolworth (K. W.) genka Badla

**** REGISTERED

IN LIBERIA

54 56 20 50 52 54 56

Are the tax-free dags of convenience, or faberia and other smali republics becoming Ichs convenient? A recent transfer of it oll tankers from the Star-kid-Baru Dag of Liberia to the Red Duster of Belinin has raised this question, This chart shows how the tax-free, fiéets el oli kankers and cargo ships registered in Elderia läs been increasing in the last to YORIR.

LORBUM EXpress Barrion

Closing prices all in cents per per lb.:

ib.

Apot

Oct.

Dec. March

JmY

231-2015

500

1.05-3/31 2.01

2.01 1/2

1,00

2.813

2100

Union Oll at Cal.

2100

LONDON

Other unchanged.

Copenhagen Frankfurt Paris 3.00 buyers | Blockholm 304 buyer M

902 Buyers | Vienna 3.34 buyers| Zürich

-UPL

20712.07

140.35-140.40

13.75-13.231 15376-1977 074396-7453%

1242-12.111

-UPL

1940

50 32

50