1959-08-25 — Page 9

Page

THE CHINA MAIL, TUESDAY, AUGUST 25, 1959.

Indonesia's Drastic Move

STOCK

Street On

Decline From

London

Business Halt

Wall HONGKONG

Market

As Currency

Is Devalued

Mixed

London, Aug. 24.

Industrials provided most of market the team for a

1

that closed mixed. Sparked by the first upturn in martine-tool orders is three i years most tradustrial stocks to-!

A proved,

feature was nearly seven shillings rise in Harrods

the victory 011 Fraser in the fight for control.

Oil

tri Rubber were BFAL

Djakarta, Aug. 24.

Business suddenly came to a virtual halt in Indonesia today two hours after the cabinet announced the devaluation of 500 and 1,000 rupiah notes to one- tenth of their face value.

EXCHANGE Selling Pressure

+ Our Own Correspóni

Kang

Business June on the Hong- Stock Exclunge this morning muunted to approxi- spinta- tions and the morning's transac- 1jons:

mately $885,000. Noon

Blares

flauk INSURANCES

Lombard. SHIPPING Wheelock

Buyers Sellers

1*X

Ju 871

6.40

107

HANKS Shope, rillees, and restaurants were called out tonight to con-

trol thousands of people locking s closed in an atonephere of un-

the cabinet's telegraph efices throughout certainly after ut

shock incision bronkast to the Dakaria.

Queues formed outside the

DOCKS, ETC. tsaston over Radio Indonesia this

tifternetin

telegraph offers to send embles Whe Mr

Dock Malal, the Minister of to faultle arti businesses after Information and robinet spoke- | the devaluation decision.

Lieutenant-General Abdul mk, ako said the Government

tended to freeze 90 per cent Hari Nasution, Army Chlef of

over 25,000 star. tonight orderett ed vine arvot.

upiah tart as the monty as a plomat commanders ไว 1m.

the people in their areas of the Government decree.-Reuter.

Gold stocks alert while top- pere ends on press reports of i Ithodeslan motionalisation move, Gill-gel smearities incited support and Brified lower,

Greek bonds were frm in a market. Dollar teks woar mixel. UNI.

Closing Prices

Cedera andis

Trport 32H-

S

Consolu 201 Concol 2

E 14

# C++

F

Jef

Conversion 1. 31...

!.

Funding: Jerkit 3... 2010 —

a 2014 Forcing Back

וניהול

19

C-1/14

Savings .. CA

1953 07

$175 EM

Hanks

Major Decision

Another major deelston was To abolish llonesia', eerlitente for dancing foreign imprts and go

M

rhodox real.

Bac back to

The triple decision aimed at

chu king the

evationing

Krav

deterioration of the republic's

A COROBY

rooked businesmen troughout the rubber, tin ani

it-rich archipelago,

The

Livere s Governmeal's

the cabinet, which bered by President Sukaran head. Protufer, sakes effect frum non

Bairlaws Bank "A" Lid und 524 | Java time tomorrow 1293 GMT

August 241.

Chartered Bank All- Honeking

Bd

5

insaner

་་

which

Ton Insurance Canton

Aircraft and Motors

13) Motor t'uap

Fond Motor 443

Herwerina

Dalilee 42

-17.

M

Provident

13.40

و : 1

از الا الله

11.0

SOU

13.40

[d]

119

2)

1:140

....

£3.40

all re- inform

Taakero LAND. MIN.

Fatal 2473

107

FUR .

$3.1

22147 5.

400...

RUBBER

MARKET REVIEW

Fire rarion of traders was

refuse tu SE:

tules Wotak

devaited.

for There was gend interest The thousands of Uran ekse

Jawor sheets, particularly to the shops, une jolued disgustánya 16

3472" Pulve Jow

decisions Uned States. Factories th affect them.

small buyers and the morning Normally Cevent 200

crowded shopping session closes quiet. areas of this capital WI

arusiding and Materials Acetaled Portland

Plan Johnson. A morates. Ord

Coal, Steel and Englererine

Wilcox Ltd 2 PM

Vichris d 3 4.

Food and Tobacco British American Tol Cr

1

Ingrand Tobracea C1tz! 18.

MareBanrous

Boar douar Maden Lal as $11. Magen It Cher die

Caman Paese, ky

Infop libber, the 154 15 Hawkou! & Choma filan Tas

Topekat Chepstras 4 7. L&66-76, 30

Torlever 1.1:1 1 151.

Howaty Paper Cup Out te cd

Badia and Virtelcat

Auchters Fleetcanal 47

eritrel & Murtal 51 60 Tulish Bistre 4

d

45 213.

...

f'o

Shipp

stef declama 95266 "Nav.

Struts Navigation def ord

stures

Hey XD 155 1.05 RUNNER

Antale. 3471, 3.1251841.

3.13

Tru .. 20 gr 500 20.60

Trin

A Tawals

Starved

2

UTILITIES

112 114

4 Light.

17

111 50

17.00

Electric

{

29,40

29 30

Z

MAR 20

30.

الالة

A ARGE

28.40

4,50

14 ג22

New York, Aug. 24.

The stock market sank today. from its own

weight,

Family Finance Corp

Firestone Tyrebber

First Nat. City Bank

Industrial cases of ore to two El Par Natural Can points or more dolted the main! is 1. Volume was light - dienting the decline wemmed mare from neglect than frum selling pressure.

Fach major frou had dowiske lenders Litton in the elteltonier, U.S. Steel and Janes

& Laughin in the steels,

그는

Ford Motor Co. of Cnna.

130

1820

Georgia felfle

General Dynamites

General Electrie

General Fonda

Gemici Motors

en. Pul, 17201

Gon, Tyre & Rubber

Goodrich 19. F.) Co.

Chrysler in the motor, Allled Godean Alterat

In the chemicals, Martin in the eleraft, Nock Ielend and Norfolk & Western In the rails, and Goldrene in the tyres.

The brokers said the market will need a

new mufus

Lossibly the end of the sleek

strike to vip out of the doldrums,

Tedny's volume was 1,800,000 shares.

Of a lotal 1,100 shares traded, 339 were higher and 500 lower. Amerleon Exchange volume was 070,000 shares.

Bonds volume amounted $4,500,000.

Closing Prices

Algoms Steel Corp.

1964. Aningo Steel

Grupiinn

Gulf Oil

Hammond Organ

Heyden Newport Comp. nestake Mining Co. Iriah Power

| ingetruli-Stand

Intend Steel Co.

Interchierical Corp.

at Muners Machines

Int'l Harvester

Intermotional Nickri

Kober Industry

Kimberley Chirk

Lignett Meyers To Co.

Loews Incorp.

•

241

120

Pago

RANSPORTATION

Britain's Tanker Fleet In Race

For Leadership

THE United Kingdom was in fourth place in the race for the world tanker teadership with a fleet consisting of 556 tankers totalling 8,717,400 deadweight tons, according to the Sun Oil Com- pany's latest series of annual tanker studies published here..

Taking into necount the 175 versels

comprising

8,151,300

under construction and

dedined to ly the British Bag REDUCTION OF

the Sun report predicted that

Liberia would FARES DEMAND

frut

place

with Morday retaining the pre

Washington, Aug. 24,

By 1963 the United States TNITED States and Com-

tanker Best might be in fourth

UNIT

monwealth officiali

19 place, a sharp contrast with the described as speculation ro- manber ene position held for ports in today's Aviation

לן

JES following the secotic

World War, even though U. S. Dally that Commonwealth ewne: costrolled more than airlines will jointly demand 01.0 third of the worldo roduction of passenger capacity. The report fares at the September meet- Junker

che of the probability or aing of the International Air sharp decline in the ranks ol

Association In

the innker feet that flew the Transport

Honolulu,

kenly

They said the British Over- Airways Corporcion Is likely to demand a reduction of showed fares at the meeting but it la not known here that his demand will be supporled by the, Austra Hun Qantas Airline, Air-India Trans Conada International, Airways and British European Airways.

42419.

Jona

102

Internations! Paper

(35)

|

Jatt Tej & TH

Juho Maville Co.

3

The would like

Over Arcond

16x

place by 1963.

Kammas C. Power & Light

Kennecott Copper

102

497

continue to foll

6

sent third position.

Lily Tulip

30%

to

Lochberd Atreraft

Lone Star Cement Co.

RIPA

Lowensteiri & Sons,

McDonelt J. Ray

932

MeDuell Aftersh

NO...

Moabi Iron Corp.

154+

3.1.

Abilil) Dwy,

Paper

37%

Monsanto Chemical Gn.

517

28.20 28.40

30,30

38

Montgomery Ward

4

AN

Singapore, Aug. 21. Despite lower oversens ad-

vices the market opened STURES, ETC higher with the Loatian situation

Home Watau causing

Bee, Craw

2X COM

28,40

Allied

20

Assed Amicals

1:0

Mutoreda Jne.

1004

1.

National Bac

Co

SEAS

INDUSTRIALS COLOR:

Als Chalmers

203.

National Cash Reg. "A

DOS

31 30

Ain. Brake Bhon

WN

American Cable & Radio

National Dalvy Prix,

Paly

11.17.0 ...

17.30

Corp.

10

National Lea

127

178

American Cyanarts Co.

National Steel Corn

#42%

1750

Amer & Ports. Power

12

New York Central

$ 10

A. Gas & Electric

Noranda Miner Lut

503

U. S. Bag.

21 2130

10... 21.00

Am. Home Prod

tertolk & Western Ry.

concern.

LO

2120

AM Mneh, & Fdry

9115

North Ainer. Aviation

303.

BRIT

21.10

American Afrtal

Northwest Airlines (Com.)

SMP

20

Aim. Natural Gas

02

Oli

LOTIONS Text

American Smelting

Olta

30

1.20

1000

416

Ain. Sugar Hel,

3012

Owen-flinois

Glas

0.23

American Trl & Tel

TE

Oxford Paper Co.

H

THE SURVEY

The tho

survey

also

2000

6,20

Ameries Til.

Pacifle Gas & Fitre.

Nanyang 107, 10.70

1900..

10,50

Anaconda Copper

Pan Amerien Always

24

7514

Paramount Pictures

40%

Armour

Park Davis Co

47

Vitr

MEUFLLANEOUS INVESTMENTS

Baldwin-Lina-Ham,

131

Penny J. C. Cu.

13.10

BaNimore $ 131324

45!

Penn Bait Co

Bank of Montreal

Pup MOTIS

A

Buneliela Fine

2312

itney Bowes

4.93

Belix Aviation Corp.

0042

Procter & Gamble Co.

Benguet Con...

1

Publicker industries

11

Bethlehem Sterl

37

PU 01

Boeing Airplane

3144

Radio Corporation

mar

Radio Unrys. Prel.

2014

Raylbert

Republle Steel

Heyet Nork of Crasada

13

07

Start, Roebuck & Cn.

32

BAS

Shell Oil Co.

A

Sateway Stores

31%

2016

Soin Res. Pover

2012

Acheniny Inc.

102

Scott Paper

Dix

542

Smith, Cline, & French

Bank

Monarty Mohit "all

443

Chrysler Motors

6435 Star Alecraft

Clucit Pealesty

481

Colgate-Palmolive Cu.

38

Cathan Carban Co.

ABL

South Puerto Rien Sugar Southem Co. (Ther Suturn National Dat

Convahind Edison Cilincutal Oil of Del. Chwn Zelinrtinek

37

1934 | Sanoin etway

Standard Brands

Com.)

737

MEX

feel

37

Catban Anter. Sugar

2145

Stundarg Oil of 19th,

numbered

Standard On NJ.

58

Sterp Rock

Slane & Webster

6312

Stun baker-l'ackate Corp.

Doughs Aircraft

44%

Sumlude Man

New Chemicals

127

Swill & Co.

12.5%

Dupont de Nemours

267

Texas

Bustern Airline

5015

Texting" Inc.

29.25

Loudon Express Servies.

Eastman Kodak

Dal

linked (here.

Tide Water An. Ol

Time Inc.........

Tri-Con. Whitts

The afternoon was stearly with of thre

almost inquiry for September 1 Rss an one hour more interest being shown in Sukarno's further forwarts.

115

311

¦ million persons

empletely deserted after President revealed Pabars Hanstein polley.

Radio Indonesia Interrupted :t sebosluded programmes to

bring the cabinet's decisions to the nation.

In New York, the rex rubber futures today eload 35 points highre 201 over to 15 points dates of 89 condreets.

Some late Liquidation eased

the frush futres near

todoy Arah, mortly wiping out earlier gains Chinese, Indonesian, turkian, Beitis and American finish at primary mar aders, whee haklings formkets. Offerings were sente l

the balk

republic's manufacturer interest reserver, I the

The pot price for No. 1 Iss econotule foundation, heard Mr Maladi announces the devalia- jwas quoted at 393 cents.

TH

In union, the rubber market

7/16 to 35% penéë per pound.— UTL

tion, freealing of bank accounts barely steady with mpót up

Abolition of the export vartiliende system.

tirt

Not Available

Exchange Rates

Mr Maladi, peaking at alieta- tion speed, gave the outlines of The new decisions, but completts

tuliial Stones "A" 14, detail, of the text of the Cabinet deerers were not onedittely available.

Joe Coversal

Marks&Spencer Ltd 59% 101 Worth F. W. & Cu-Six 415.

4'outs 2 & 3 Lid - 394.

Miner

end

thi

In the Buster vy dut

market ng rates; thing t U.S. dollars per $1)........ 1.722 The Cabfurt dreree wipes out Sterling notes (or £li....

Australian noles Ger ED Multi-million rupiah fortunes, fresian rupiah tper 19 apreolaters and black-market-Stam texts per ion An-American Corps of Stuth vers, who accumulated big - Singure (Strait.

Aller 1 19

22 10

Cup Zine Cor fid-93. 34. 15 Beer de 173: Ete Sud põhijnisil & Invest- Bet 1ts 61.

Stengtang Ton 20

Rand 1 Pad

ing of the liation.

The Government is devaluing only the 500 and 1,800 rupia a note, the highest denominations in the public which probably fom the basis of most under mattress" fortunes which drop 90

Seather Bint tm, 140 255 3.1 cent tomorrgy,

Talon Corp 74. 20

Wisd

11.7% if

Goldmeng-

West Rant Cat

OR

Closed Abruptly

The Djakarta markels closer alittig early this afternoon

broadcast of

trit Barnes Petroleums Syadfer the Stoch trotum Co., tad 57 severs. No questations

rat ST50

17.

1 Butel Petrolessin --210.

641

Neuter.

Cordable for rubber,

2 A

Yesterday's Closing

1. A

M. E. Inves XD..... £1.70

CITY LIGH

Borden (The) Co.

Kurroupas Add_Machine

British Amer. Dil Calit. Packing Chirp. Cina. Uk, at Comni Campbell Soup Co. Cantan Paclite R. Case (J. 1) Co. Cal Tractor

Celanese Cur

CLT. Fmonefal Corp,

Choxe Mania.

Alkoti

สายuk Gard

Jon Stores

COMMODITY PRICES

the

SUGAR

were coffe per and other axpari profuce ils in Djakaria.

Arnied poller and troop units

Consumer Spending

In The U.S. Will

A New High

Reach A New

New York, Aug. 21.

Consumer spending in the US, this year will total a record $325 billion of which $125 billion will represent spending on "ordinary" items from food to shoeshines, Fortune Magazine esti- mated today.

This total consumer outlay will equal the nation's total qui... put of all goods and services of & decade ago, the Magazine snici. In the past year, sales of goods about $11 bilon $5 billion in cars and about $2 billion each

NEW YORK

Closing prices all in cents per Jh.:

Contract No. 4 (world)

Sept: 2.81 Cel: 2.42; Jan: 23: Mar 201: May 239: July: 3 Sept: 3.03: O 3.03; Spal -11.0.b. Cuba)! 2.04.

Total Sales: 427 contracts

Open interest: 7,950 contracts.

Contract No. G (domestic)

Sept: : Nov: 5.40: Eput—(C.14%) N. x-duly): 505.

Tutal Sates: Ave contracts.

Un interval: 1,270 contracts.

METALS

Oct,

NEW YORK

outlays Closing prices, "These enormous : augur well for the future.... per lb.: because they tend to go on intend tak lles

Sept. and bad and are

Dol. highly resilient ecunomle

to

Zine recession, the publication said. | Bepl.

Fortune broke down this year's projected spending in this Copper SUBL follows: Food, $70 clothes $20 billion; rig During the second quarter, billion,

report noted, spending alcoholle beverages $9,600,000,- swelled at an annual rate of $7000; tobarce producte $6,800,- billion from the first quarter, or 000,000, and $10 billion in nearly double the average gain miscellaneous items. during the previous year.

in house food, clothing and miscellaneous item.

the

NECESSITIES

But of particular significance. the Magazine added, is The predicted sharp rise in spend. ing for the basic necessitles of life. By the next decade this area will be! spending in Increased $80 blüion to $175 billion, it forecast,

markot us

Oct.

pt.

Oct.

LONDON

ali in cents

12.25 17.32

COTTON

NEW YORK

Closing prices all in cents per

Spot: 37.10 Oct; 10; bee: 22.20;

Ib.

32.65, July: March: 32.; May: 37.38 Oct: 30.40: Bee: 30.41.

Ib.

NEW ORLEANS

Closing prices all in cents per

31.35; Oct: 32.40; Dec: 33.20: MS: 12,111 MAN 32. July 31.30; Oct: 39.30, Dee: 30.37.

SAO PAULO

All unquoted

Closin per klo).

entiveiro,

price alt in Average price in .S. al 14 de- | elgnated, spot markets: 31.02 cents.

Total sales: 23.012 balen.

LIVERPOOL

Closing prices

Ib.:

SINGAPORE

107

Mb

Sinclair Ou

Standart tot 4.

Dušan Puelfie Bathway

Twentieth Century Fox Film

Hon Carbine...

Uulted Alterati

thed Frutt.................

alted Gun Carga

TES. GypsuEL

1.5. Glee Cu

U.S. Rubber

.S. Smelt

TS. Steel

US Steel 7 PX

ܬ݂ܳܙܕ

ים

The world tanker feel at the end of last year numbered 3.146 ships totalling 56,040,760 deadweight fotra.

At the end of 1958, 003 tankers or a total of about 28,500,000 deadweight long were under construction or on order from shipyards throughout the world.

Aviation Daily claimed that if the demand for lower fares is not granted then these airlines would break away from IATA and establish their own organi- called ration which might be

The world's tanker capa- | Commonwealth Airlines. eity and risen 70 per cent since

A United States cfficial sold 1053.

one prominent U.S. airline has a reduction in long favourei fares which drastic wants.-UPI.

During 1059 deliveries of new tankers to the world fleet were expected to reach a record high.

The report showed that at the ond of 1958 the active tankship that flew the U.S. flag

Bran

would be more

anything

Bord

474 ships, totalling SAS-THAI

28,309,200 dradweight tons.

"

An

additional 473 vessels of 10,865,-

300

U.S.

tons were controlled by AIRWAYS PACT

owners

registered under

WETL

but foreign "flugs

of convenience" chiefly Liberia with 180 US. owned Vessels

and Panama with 131.

LOCKING UP THE

Stockholm, Aug. 24. CO-OPERATION agree-

ment was signed today Jin Bangkok between the Thailand National Airlinos and the Scandinavian Air Systom (SAS) giving birth to a new airline to be known as Thai International Airways. The new line will provida MULTI-ANGLED international air transport A fair load specially, from Bangkok.

330

26

34

107

ST. LAWRENCE

313%

1020%

Closing prices all in Straits

Wainer Br

cents

per 1. Lob.

Malayan

Waukesha Moters

ports.:

No. 1 Sept.

115-120

123-198

No, Sept

1cu!-110

Westinghonne Air Brake Westinghouse Electric Western Union Tel. Cu. West Va. Pulp & Paper Wirn-Dixie Storra Woolworth AK. W)

4905

No. 3

1009-109

Zenith Radjö

No. 4

102-107

Spel rubber unbated

Blanke: csepe

3-107

No.: CTODE

119-520

LONDON

Closing prices all in pence per l

No. He spot

Oel./Dec.

Buttlement house

term:

2%-3215 321-

201

Jan./March

Apri/June

Generd markets, eit besta, ports: Sept. Oct. Estate crepe thra Sept.

Uuck Sept

AMSTERDAM

Closing prices all in guilders per kilogramı, cif

all in pence

American Contract

available.-Uri.

1.79

31.74

21.79

21.35

21.12

Det./nv.

March/Apri May/June July/Aug. Oct/Nov

11.31 Oct./Nay,

Mixed Contract

Doc./Jan March/April 30.43 May/June 30.45 Aug.

Ocf./e

Closing prices, all in sterling Other highlights of the study per long ton. Included the following:

• America's tuto is switch- | rin |ing from beer to quor. From Fivot

3-north 3953 to 1958 consumption of

Cooper hard liquor rose from 194 mil-

Spot lion gallons to 215' million jol- 3-month long while boer constanption re- Lead and halt

Aux. mainod ni 2,600,000,000 gallone.

Nov. Cigarette salep this year will zine 2nd half

the increase four per cent over

Nov. 438 billion vuld last year.—UPI.

Aug.

Buyers Seitero

70214

2039

103 703

23116

-UPL

REBBER

886699

NEW YORK

Itex rubber futures closing prices, all in cents per lb.:

Sept.

B

---UFI.

Marth May July Dept.

July. un-

FOREIGN

| EXCHANGE

NEW YORK Closing rates:

England

dificio

20-days

to-day

Austrolla

New Zealand

South Africa

LONDON

New York Cotton Market

1954

New York, Aug. 24. Colton futures

opened casler and held within

narrow range all day to- day. The pace of trading was dull once again.

designed for the ships likely

Under the agreement,

SAS

to use the St Lawrence sod- will supply Thai Airways In- way, is being produced by a fentional with a number of North East engineering com- DC-6 and DC-6 B aircraft, Pur- thermore SAS will furnish tech- pany,

ical and administrative arsis- This type of universal fairlead tance fer m undetermined ennising rope to lie outwards length of time. from it within a wide angular range horizontally, vertlealty or obliquely.

In addition it allows tor, con- sidcrable deflection of mooring ropes when a ship is being paced, through deep locks.

There

horizontal are (wo rollers and two vertical rollers --the horizontal ones being more. closely spaced than the vertical.

Scandinavian Air System crews and ground personnel will be posted in Bangkok. SAS

150 provide will

trainloz facilities in view of using Thai personnel both in Bangkok and other basen of the World 'ser- vice.-AFF.

This provides a wide rectangular BURMA AIRWAYS opening for the passage, of mooring rope and its eye.

13

A ship in a deep locks will TO CLOSE DOWN

ally ride more below than above the level of the bollards

to which the moorings are at-

Rangoon, Aug, 24. At the finish the list ruletzched and so that the ropes will THE Burmese national air two to five points lower after not normatis extend, obliquely lino, Burma Airways, opening four to five points forward or aft of the fairlead at lower this moming. New Ora large downward angle, the pressed by financial difficul- leans closed one 15 tour polits horizontal roliers are placed to-Hes today decided to sup- ward, the lower end of the pross all Its international vertical rollers. Upper ends of

Flower,

The Census Bureau reported the vertical rollers are extended services. ginnings through August '13 at above the upper surface of the The Rangoon-Hongkong and 472,200 running bales against borizontal rollers to guide a rope Rangoon-Bangkokt services have

angle, loye upward 580,748 Just

Trade at u year.

been cancelled with immediate

Calcutta effect. Tho

servico zources Blemez slow clonings on obliquely, forward or aft. The an excess of rains recently In fairlead is of steel construction will cease after next Thursday's end the bearings are bronzed the central and caster belt,

bushed and lubricated by grease flight,

10

2.nov

*1.24%

.70%

A leading mill executive nipples.

a

the administration

Burma Airways is now trying Vickers Vis- used on external

threatened to go to Congress of The fairlead can be filted to sell its three possibly the supreme court with ease by cutting a rectangu count 7078

refuses to ar opening in the bulwark. The services, take action to curb imports. Tairlead it in this and is welded Internal air services will bo

anilo piles. Japanese sources reporte

maintained by Burma Airways thd to the toxille strike there,

Alternatively, in way of although these too have been Pull defluit,Sattr stanchions, It may be welded to showing

envolling coating on deck. (Taylor Palla- und 17ter and Co. Dumaton-on-Tyne, blamed for the slump in infetual

County Durham, England.)

Others unchanged.

40,15- 37.16

+6.30

20.00

Paris

Clesint rates: New York Montreal, Frankfur

Mtan Vierina

2. 15/18-1.50

16/18

*

Dally experts tolalled 10,035 unles

257-367

13.75-14.731 13.2013. 174236-1743

72.65-72,43

-UPI.

Liverpool inished nine to Engilats points higher.-UPI.

road

zervices.—AFP.

..wero