1959-09-23 — Page 9

Page

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 23, 1959.

STRENGTH OF STERLING

London Stands

Lacks Support

London, Sept. 22. An all round but generally modest fail was recorded In stock markets today.) The dullness reflected the| fall yesterday on Wall Street. It was the open- ing day of the British general

election cam- paign, the Jasper affair,! and the fact that it was settlement day for previous account. Selling

was small

the

Treasury bill rate and closed with numerous declines of 1/16 to in a quiet foreign bond market Greeks were dull but Gremans hardened. Dollar Blocks feil buck with Wall Street.

Above Its

Par Against American Dollar

London, Sept. 22.

HONGKONG BID TO HALT

STOCK EXCHANGE

SOU}Own Carriipondent,

The British Commonwealth finance ministers meet

than under a happier augury ever before, namely that sterling, their greatest common | Business done on the Hong- interest, is at present doing splendidly. Partlykene. Stock Exchange this because of the technical difficulties of the morning amounted to approxi- dollar but also for other reasons, world con- fons and the morning's transac- fidence in sterling appears to stand higher tions: than at any time since the outbreak of the first world war in 1914.

At sterling's worst Ime of while Europe, Including Bri- year-almost the anniversary of tain, is still gaining them

come

D

will certainly have at least a short-term impact on sterling's world standing, it he been going up almost daily.

Held Down

|

Convertiblity of sterling.

mately $1,846,000. Noon quota-

Shares HANKS

HK flank..

Ustion

Buyera Bellers

DOO

AZH

INSURANCES Lombard... 404 405

SHIFTING Waterboat. Whees.eks

DOCKS, ETC. K. Whart...

Halcl

D 4.60 0.65 2000 na 11,60 13000 0.00 BOW 0.63

100

100

Da 104 -100 103 114103

Dock

473 474

200 64 472%

Provident

the dates when it had be devil- ed in 1931 and 1049, and drama- which was long regarded as too. but the matket suffered from a lack of

tienlly defended in 1955 and dangerous a gamble, has been a 1057-sterling stands well above complete success since its in- fresh support. Glt-edged turned dull despite the foll in the U.S.it par ugainst the U.S. dollar, troduction at the end of inst In the threes of chancy year. Indeed sterling, and the eletion campaign, whose unl storing area's central reserves,

have not looked back since the seven per cant bank rate and The other remedial measures which had to be taken just two years ago.

AR SODN n those measures Nolved

immediate sterling's problem, the attention of world money markets turned to the dollar's more long-standing problem, that the United States balance of payments has been LAND, Etc.

almost continuously in defielt

devalua- since the European tion of ten years ago. That is at intraclable problem, since devaluations certainty those cannot now bo reversed.

Widespread but usually small Jurses were recorded in in- dustrials. Steel shares were the most activetection, and prices moved erfifticully. Early in In steels were replaced by losses later and most prices closed easier on the day. Lending blue

CITY LIGHTS

LEAD

"Pit

you couldn't ouN nome Conservative shares. dear, I think they're in for

a further rise

London Lapreza Surice

chips receded, particularly those

with an American following.

The

Kaffir market drifted lower and although hardening towards the widesprend

AL

no

1300 14 $7.25 2000 of 11 SJ 13.00 13.70 2125 13.53 809 * 13.60

theTalkoo Dock 33 33

300

13,00

600

F 13.00

2200 ur 33

059 33

1400 + 33

200 or 9514

# Hotel 29.40 29.04 1000 29.80

HK Land

37 Humphroye Realty

Paze 5

WALL STREET New Equipment

DECLINE FAILS

New York, Sept. 22.

The market lost steam after the first hour on a lack of follow-through demand. Investor scnti- ment continues to be affected by the various economic and political uncertainties.

But brokers point, out at Conltdated Edison.... the market's sharp reaction

in

Continental Chl of Dei. Crane Co.

the past month has strengthen-Crown Zollerbach

cd is technical position,

They look for a turn around

In prices after settlement of the long steel strike.

Today's decline was the sixth

In Qio last seven sessions. Volume slipped to 3,000,000 shares from 3,240,000 yesterday. Electronics stood out in the Jist with gains ranging to "

points, General Time was up two, Litton 1%; Zenith 135 but Wagner Electric countered¦ with a loss of 24.

Today's volume was 3,000,000 theres.

Of a total 1,208 issues traded, 407 were higher and 588 lower, American Exchange volume was 1,030,000, shares.

Bonds volumo $0,010,000,

Dow-Jones

were:

30 Industriale

לת 4

anoured to

|

Cuban Amer. Bugar Diamond Alkall

Dirmond Gard Douglas Aircraf Dow Chemicals

Dupont de Nemours Eastern Airline Eastman Kodak ....

Pamo Natural Ga Firestone Tyre & Rubber First Nat. City Back mưa Amor Có, of Cand Ford Motor Georgią Paciño General - Dynamies General Electric General Foods Gen) Motory Ge Pub, tu). Get Tyre & Rubber Getty Of Glides Co.

Family Finance Corp.

Godrich (D.F.) Co. Goodyear Tyre

Grumman Átecenat

Gulf Ou

Hammond Chan

Heyden Newport Co

clusing averages Hoek 2ining Co.

Hussars Retrig.

Kdatio PoweT

Imperial O

Inland 6o b

1000 de 20.56

"

17.30 17.00 1000 1

1.00 3,025 95068 or 1.00

10000 or 1,525

416.30

to

RUDDER Britain's own balance of pay- | Analg. menta is heading for an unex- pretedly large surplus this year.

3 75

33 3000 or 2.50

a vostics

159 20

Ingerwoll-Band

33.21

05 Docks

204.00

40 bonds

22.10

4.223

15006 on 3:50 4.30 og 4.235

Comin. future price index...

140.27

A. Towch

3.4

Sungaia

UTILITIES Trasn

2,BU

2000 295

Ablubi Pwr. & Paper

30 30%

stage in the pre- election period has sterling been subjected to the attack of nerves which

a almost authorities, high and low, were expecting. In its day-to-day smoothing operations the Bank of England finn probably hnd to hold it down, by taking dollars, rather than support it by giving dollara,

A sul bigger surprise

experts has been ster- maby ling's Immunity to the pull of

In North The overseas sterling countries, Trut ...... Stigla money rates America. AL

time last thanks partly to good manage- year London money rates were ment and partly better luck five timex as high as New with commodity prices, are co York's. Recently New York's ing for better than they were. have gone higher then Lon. Their capital requirements, Yaunetl and Canada's higher particularly” India's are formid- ll. So far from this attractable, da to their improved cur- ing too much money from rat position, however, today's Europe, (13 many authorities Times goes so far as to say that Electric feared, the United States still it seems to leave nothing to be appears be losing reserves desired."-Reuter

<lun'a

one

U.S. Car Industry Feeling Effects Of Steel Strike

Detroit, Sept. 22.

close ended with The car industry today began to feel the first

losses ranging to

two shillings, or occasionally hore. Coppers were dull and other base metals uncertain.

Olis eased. Leading rubbers hardened.-UP).

Closing Prices

Giedre Lands

C. Light

3060 - 3.415

2000 39.50

100 ft 30% 3000 30

110 110 2001

100 110 18.30 18.30 1500 180 239 18.20 2200 10.30 ... 20.10 34,20 1200 or 24.10 100 24.90 Maeno E 10.69

30 30% 2700 or 30

Telephone.

INDUSTRIALS Cernent

36 30%

STORES, ETC. Dairy ...... 18.60

Watson

19.20 1911

effects of steel shortages which would force. Crow... 23.00 complete shutdowns of production of some lines in a little more than a week.

The Brst critical shortages continue operations longer than appeared to be showing up in any other car company with Cióneral Motors Corp. plants. the possible exception of Ford.

The company

Studebaker-Packard said it announced it;

British Transport (0%, 1978/84—would begin inyoffs at its expected to be able to continue

£6-0/10

Connie 24426-C3145

Consuls 42724

Converslun LEN

2015.

Funding

1440

£13-7/18.

וונות

4.

Ternstedt Division plant at producing cars from stockpiled Columbus, Ohio, on Thursday | steel until December 1 but ad- 1800-and would lay off at least 2,800 milted an unforesecu shortage 2959/69 employees at the plant by the by any suppler could bring

end of the month, shutting off about 'n crisis saoner.—UPI.

13/90-

Fundiu Stuck 37%, 1009/2001-all production there, £11.

Funding Ravings 3 1955/65-£90-7/16 Sovines 3 1960/70-£61-6/10. Savinga 3, 1905/75-753.

k Barclay's Batik "A" Ltd ort-10%

JKI.

Chartered Banicutty Bd.

3!).

tunkkulls-ce Union Insurance Canton

Airerkit and Motors Brot Molar Согр. Ord-16 1013

Ford Motor Co-19 D4.

Breweries

Distillers Ca-zug 10,

Building and Materiale Aarcelated Portland Coment--dis

chin Johnson Associates Ord 249 $190,

Cuki, Ster) and Engineering. Babcock & W10x Lid-17 1d. Vickers Ltd 10d.

07.01

Elet

Food and Tobacco Britkh American Tob. Co., Lt

Tobacco Co., Ltd-583 Miscellaneous Hoardenan Morden Ltd- 4. Brain Oxygen Lid. Ort-85 d. Canation Prefe y-$48. Dunlop Rebber Co-215. Hongkong & China Gas-13. hoperial Chemical-1 101⁄2d. Lynn & Co--7fk Dd. Unilever Lid-111 751d.

Paper

Bowl 0 nd Plectrical

Paper Corp Ord-is öd.

Associated Electrical-60s D3. Electrical & Musleni-52s 4iju, English Elzetrie Co-439. General Electric=39% 64,

antpring Indo-China Steam Nay. Cơ, sh erd-304 341.

Steam Navigation det ord -371 Du

Great Universal Stores "A"-ai. 71ad.

Stores

Marks & Spencer Lid-din G

Woolworth FW Co-bis 14,

*Textile

That would leave only planta of Detroli and Flint, Michigan, and Trenton, New Jersey, pro- ducing such things as door Hokken for General Mctors

cars.

Yesterday's Closing

1709 30.75 2006 30.23 1800 + 30

200 30.23

850 30.25

1200 6 38 43003814 2000 30

.13 2700 @ 19 1000

300 11.30 1400 10

200 6 1840

2040 731

Closing Prices

Alden Inc. Acy.

Algoma Steel Com

Allied Chemicals Allied Mill Inc.

Allis Chalmers

Interchemical cory,

Int'l Business Machines fot'l

Liter Vester .............

Nickel

Internatural. Paper Int'l Tel, de Tel. John-Maryville Co.

*3414 Kalmer Indkamery

Kanaca C Power & Ligh!

Kennecunt Copper

For Marine Communication

A NEW compact, transistorised range of instant speech' marine communication equipment has been developed by the Marine Division of Siemens Edison Swan Ltd, for situations where the effects of hackground noise severely restrict normal speech transmission.

A typical gystem for ships

comprises a Main Station/Belce-

tor Amplifier position which can Britain's Biggest

201

170

703

be linked to loud-handlers or to a

41%

mumber of Out Station Trans-

74%

0236

undtter/Loud Speakers for direct Oil Tanker

two-way speech circuitry. The

67% traditional valve has been re- 20% placed by, transistors

AMS

enabile RITAIN'S

the equipment to be fully

the

operational from manent or 'awitch on.

very

BR

oil largest tanker, the 50,000-ton British Queen was named by

With a 24-volt system when Queen Elizabeth the Queen speech transmission takes place Mother at a Clydosido cere- the maximum operating current

mony recently. is only 2 anys.

'NOISE CANCELLING'

The amplior has 4 rising frequency characterisk of up to 1,000 e/s which ensures

About 10,000 people, includ- ing many of the 1,000 mon who worked on the veel during the past two years, saw the launch- ing ceremony. It was the big-

very high level of speech trans-post launch of a archant ship

Us! mission

Brticulation.

through

enhanced

or the Clyde since the launching

of the liner Queen Elizabeth 21 years ago.

An important feature is the

The tanker is 750 feet long, use of 'noise cancelling' micro-

clightly shorter than H.M.S. which enables this top Vanguard. Her breadth is 97 phones 931 quality two-way speech delivery feet. She will carry nearly 50,-

maintained-in engine

rooms, in winch locations, and in 900 tons of crude oll-more than loading rumpa-where nonnal enough for *Scotland for อ telephone speech would not be month. She is the first of a new

class of sicam turbine posible.

tankers for the British Patro leum Company Lámited, READY SOON

1

1042

48

100%

Aggett & Micy of Tub, Co.

851

to be

Li Tullo

2314

100

Atn. Brake Bhos

Lockleed Aircraft

American Airline

Loews Incoro,

Am. Callie & Radio Oort American Cyanamid Co.

Lone Star Cement Co.

2541

2011

Lowenstein de Sona,

10%

MoDermait J. Hay

40

224%

McDonnell Atzeralt

Mesa Iron Corp.

Minnesota Milaimė

Mision Developement

American Tol & Tel Aenertown Tot.

100%

Ansoonda Copper

Am. & Forgn. Power Aan. Cam & Beciric Am. Home Prod. American Metal Am. Natural Gas

American Smelting

Am Sugar Ref,

Acne Steel

Armour

Allas Cuns. Mining

Fladdwl17-Lara-Ham.

Baltimore & Ohio

Bank of Montreal

Benguet Cona

Bethlehem Bleek

Case (J.) Co.

L'a, Tractor

Celanese Corp.

Monsanto Chemical Co.

Montgomery Ward

Motorals Inc.

National Blacat Co, National Cash ilog. "A"

National Dry Prod.

National Lead

Natal Steel Corp.

13% New York Centrái

Noranda Mines Zid.

Tasked Norfolk & Western By.

North Amer. Aviation

401

Olin Elevators

Plourd Plato Glars

40-Ton Steam Windlass

super

The vessel is about three- quarters the size of the Queen Elizabeth. She is expected to

be ready for her maiden vayage

at the end of this year and will STEAM driven anchor probably be used between the She and mooring windlass Persian Gulf and Britain.

will have a loaded speed of 131⁄2 has been completed by the knots, her turbinez passing Telegraph Construction & 17,600 shaft horsepower down Maintenance Company, to a Limited (Falcon). It in ane

single screw. There will be accommodation for 70 officera

15 of the largest totally on and so in single air-conditioned Goliad closed windlasses in the

A

|

Beneficial Finance

33

Bendix Aviation Corp.

0121

Horthwest Airlines (Com)

Oil Mathieson

300 19.40

1

Boeing Airplane

30

Owen-fra GTATE

025

2000 # 23.50

COTTONS

Textiln

Nanyang

703 730

21.00 11,00

1000 47 7.10 1000 6 7,10 3500 11,00 2000 11.70

Borden (The) Co. Berroughs Add Machin Fish Amer. Oll Calif. Packing Corp. Cano. Elk, of Comm. Cana Brewer

70%

Oxford Faper Co.

2023xd

Pagine Gas & Elec.

Fan American Airways

223%

Paramount Pictures

4

3011

Parke Davis Co.

Penny J. C. Co,

Campbell Soup Co. Caraian Parine

4015

Jenn. Sait Co.

20

2016 Pulp Morris

18

1014 Pitney Bowes

Procter & Gamble Co.

2014

54

88150

009

Radlu Corporation

Radio Corp. Pret.

Raytheon

445%

Republie Stee)

4teyncks Metal

Beart, Rorburk & Co,

30%

baths provided.

Saint. Eng. Paper

4086

Scheuley Inc.

TOY

double cylinder steam

Sinclair Qu

Smith, Cline & French

1032

Sorony Mahil Ou

Bolar Arcraft

Southern Co. (The)

Southern National Gas

Southern Railway (Com.)"

MISCELLANEOUS Vibra... 10.00

INVESTMENTS Int. XD ... Allied... 4.05

HK & TE Invest.

0.10

300 m 6:20 5000 4,00 2000 (4.03

3000 4.05

11.00

1000 2 13

C.IT, Financial Corp.

| Chase Manhat. Bank

Chrysler Motors

Cluett Peabody.. Colgate-Palmotive Co Colombia Castors Co. Comansonial Chedit

COMMODITY PRICES

SUGAR

NEW YORK

FORCED TO CLOSE. Chevrolet Division general manager, Mr Elward Cole said his division would be forced to close off its production' by Octo- j her 1, just a little more than, a week away, unless the steel strike was ended by that me.

Chevrolet has been producing Its sanall Corynir at μ rapid rate for some time now and Mr Cole said he expected oll Chevrolet dealers to "have stocks of 1980 models in their show- rooms before production ended.

General Motors' Ac Spark Phyt Plant al Flint laid off 400

Toial Sales: 243 contractacts. vinployers last week because of the steel strike. The employees | Contract No. 6 (domestic) were making nir cleaners for Scpt: 0.03: Nov: 5.70; March: 5.80; May: 5.85; Spotam(HE NY, ex-duty); 6.00.

GM cars and the company-de-

.ען

Closing prices all in cents per

Contract No. 4 (world)

Det: 3.00: Jon: 3.08; March: 3.10: May: 3.11: July: 3.12: Sept: 3.16;

Cuba) Def: 3.30; Spot-(1.0.0. 3.12.

Open interest: 7.171

eldet i had enough pir cleaners Total Sales: 2 contracts. for the limited production of Open interest: 120 contracte

UPI

cars possible with current steel supplies. Therefore, production. was stopped so the steel being used for atr cleaners could be used for other purposes.

GM's Harrison radiator plant at Lookport, New York,' will go on a four-day wock next week in order to conserve its steel |-supplies,

RUBBER

negotiating with Phoenix Steel Prices, all i conts per lb

2014-30

341% 3414

General markets. e... basin, ports:

NEW ORLEANS Oct

Closing prices all 297%-20%

in cents Nov. Estate eripe this Dot .....

per Ib.: dilek Get.

apat: 1.33; Get: 1.50; Dec: 31.35; March: 22.70; AMSTERDAM

May: 33.07 July: Closing prices all in guilders 32.4; Det: 30.40: Dec: 30.3. per kilogram, c.l.t. Oct.

No. 1 rubber

No. 2 rubber

No. 3 rubber

No. 1 crepe

2.00 buyers 238 buyers 2.07 buyiN 1.41 buyer

--UPI.

METALS

NEW YORK

• Closing prices, all in

BAO PAULD

All unquotes.

Average price in U.S. al 14 de- signated spot markets: 31.78 cents.

Total sales: 57,0lp balos.

LIVERPOOL

Closing prices all

per ib:

Publicker Industries

Pure Chif... 199

Royal Bank of Canada

Shell Co.

Safeway Store

Scott Paper

Standard Elranda

Starlard 4 of Cal.

Stab 4 of md.

Olof N.J. Strol Co. of Canada Steep Rock Sterling Dre co

Stokely-Van Camp. Stone & Webster Studebaker-Packard Corp.

Sunshine Mining

& ca

Texas Co

Textron Ir

infohol Chem.

Tide Water Ars. Oll

Tline Ins.

In cents Tri-Cont. Warrants

Twentieth Century Fox Film

Union Carbide

cabina,

In the vessel's launching slate, world and has been supplied the slipways took a static weight to, Davis Shipbuilding Ltd, of of 20,000 tons. About 1,000 fons

through Quebec

Project of draghains were used for Sales Ltd. of Montreal for controlling the launch.

The latest navigation equip- fitting on a 40,000 ton oil mont will be installed including tanker belonging to Federal radar, radio directing Ander, 302 Tankors Ltd. of New York. VHF radio telephone. echo A novel feature of the windsounder, automalle speed, dis- and draught indicating 454lass is that the whole of the tance

understood 74% gearing and engine motions are equipment. It is

erelosed in an off that gear case that an order has been placed

for a 65,000-ton tanker. end all moving parts are there- 48 12, fere anply lubricated from the

1934

7724

The power units consists of o

engine Turbines For

3|| designed to lift two enthurs

403,

ench weighing 0 tons with 3

in,

diameter steel cable

capable of maintaining strain Portuguese Liner

2014 on the molncing ropes of 12 tons 801 ft/min.

1124

1411

for the machinery

100 windlass was re-order for million Por

cently supplied Chantiers de

to Ateliers &

France for the tugueso linor has been placed sa. Esso Norwich of 30,000 tons, with a Tynosida marine en- while two others of similar de gineering company by sign are currently in production Danish shipbuilding firm. for un Lunkers of 2,000 tonn (dw.).

O

Parsons Marine Turbine Co.

of Wellsend a member of the

Group- Richardson Westgarth

is to supply the steam turbine machinery for the liner, resent- ly ordered by Lisbon owners from Elninorë Shipyard,

Den- mark.

The liner,

carrying between

N anti-aircraft frigate for 400 and 500 passenger, is for.

Indlin Navy,

Empresa INS. delivery in 1981 to

Insulane do Navegação ot Betwn was recently launched at

shipyard of Vickers-Lisbon, for service between the

capital and Armstrongs (Shipbuilders) Li-Portuguese

Frigate For

Indian Navy

American Contract

Union Oil of Cal,"

Oct/Nov.

21.30

Dec/Jan.

Unien Pacific Railway

21.05

March/April May/June

21,30

United Alteraft

22.05

United Fruit

29

Athe

July/Aux.

21.YO

United Can Corp.

Oct/Nov.

21.05 US, Fall "B"

+21

Mixed Contract

L'A

the

Oct/Nov. 11.10 Decian.

22.00

UH. Rubbe

Bata

U.F, Smelting

21.09

11.10

Marvaprit

US. Steel....

11,00

May/June

2018

U.B. Bleel 7 P.C. FF

100

150

July/Aug.

21.00

Warner Dok

401

Oct/Nov.

21.30

Westinghouse Air Brake

271

20.33

PT.

Wesülghouse Electne

Western Union Tel. Co.

101.50

101.50

West Va. Pulp & Paper Winn-Dixie fitores

cas

11.00

29.34

COREIGN DXCHANGE

NEW YORK

Closing rates:

per lb.:

Lead Sept.

Ocl

Zinc Бера

Oct.

Copper Sept.

Oct.

Tin

Bept.

at.

NEW YORK

LONDON

Rex rubber futures closing

GM also announced it was

Closing prices, all in sterling

Sept

50.40

per tong ton,

Corp. for supplies.

Nev. "emergency" steel

30.00

*Buyers Sellers

Jan

34.70

21A

March

Spot

701

TICI

HARD PRESSED

May

Chrysler Corp., probably hard-

July

2,15

est pressed next to GM already has reached agreement with the operating Lone Star Steel

Sept.

SINGAPORE

3-month Copper

Spor

-month

70055

791

2241%

22413

22515

200

Canada

Closing prices all in Straits Lend 2nd half Sept.

09/1

099/

England umtal

Dec.

709

71

051

menk-lin.

supplies of steel.

Hongkong Tider PIGO.

Petaling Tin-da 4544.

Rand103 01,

Southern cinta Conn Lid-23= D.

Union Corda 4541.

West Delefontein Goldintaing

165 Bd ear..

supplies.

Ford Motors Co. sald 1 has

No. 1 Oct.

Nov. Chrysler spokesmen said the | No, 3. Sepi. company s feels it can con- 13 No. 4 tinue to produce cars into spot rubber unbaled . November with current steel Blanket deepe

No. 1 pale crepe ....

LONDON Closing prices all in pendo per

J

10214-10342

1001-10 10135-102 10044-10135 20414-10513

09-101 114-210

Leg.

New Ecalans!

Ib.

Conta 3. & P. Líd¬299 436d. Courte Lid=10# 750,

Mines Anglo-American Corp of South Africa-07 Ed cor.

Lun Goldfelds of. South Africa-

•Of 710.

Con Zine Corp. Ord-035 DJ.

De Beers def-171m 10154..

Free State Development & Invest Dallas, Texas, for "emergency" cents per lb. Lo.b. Malayan porta: Zine 2nd half Sept,

West Band Con-225 34.

Brush Borneo Petroleum Syndi-enough steel to supply all of lis

cale ça.

-

Hovel 27-10/10.

dealers with mough cars to al- Petroleum Co., Ltd-5ts low them lo do "considerable No. 1 ftum spot ....

Bettlement hope terra: selling." to.

Dutch

American' Motors Corp. Pre- Jax/March April/Jime sident, Mc George Ronney, malditzept his company should be ablu io | cet

Petroleum-

Dial Transport & Trading—16 10,

Brith

pum

COTTON

NEW YORK

Detimark

Holland

India

Pakistan

30-days

90-days

LONDON

Closing rates: New York Montreal

Brucels

1.03-3/10

7.8003 12.60

$1,7000

0200-1/16

1451

2108

2100

2.007-2009 2.60-51/15-2.08-15/10

140,25+140,40

19.3776-100NIL AKTUAL-ARITY

Paris

Closing prices all in cents Stockholm

per 1b.:

Milas

174112:170131.

Vienna

July

29.90; Chet: "30.4; Dep! 30.40.

Woolworth (5. W.)

Zenith Radio

30%

-UFL.

mony

the

The

Agreed Merchant beam of 10 ft. She will be arm- The machinery wil be delivered

mited, Newcastle upon Tyne. Azores and Madeira. It will be The latching and naming cere- powered by twin geared steam was performed by Mrs turbines to give a service speed J. C. Kakar, wife of Mr J. C. of 20 knots, Kakar, Counsellor to the High SHARE OF WORK Commissioner for India in tho Parsons share of the work United Kingdom. The ship is will be to supply the two sels 677 named after the River Belwa of turbines and gearings.

which in a tributary of the liver turbines will be of cross com Jurema

Ipoúnd Pametrada design capable Betwa la 940 ft. long (330 ft. of developing a maximum con- between perpendiculars), with a tinuous output of 13,500 slip. od with four 4.6 in. guns and to the Elsinore yurd early in will have two additional guns 1001.

A short distance away from and also un anti-submarine mortar. Thess anti-aircraft where this machinery is to be designed primarily made lies the recently laid heel Swiss Franes, Maximum Sell-rigates are

liner onother Portuguese the protection of conveys Principe Perfeito ordered two |ing 74-15/10,

against aircraft, but can be years ago from Swan, Hunter employed in other roles.

and Wigham Richardson, The ship in all-welded and Welland, by the Compania No the most up-to-date, technique clonal de Navegacao of Lisbon

Rates

for

י

of

Ltd

Exchange Rates has been incorporated in the This vessel will be launched

Bubwa wae done In the local unoffelal exchangy That thda mamming at the fallowing evlenm

U.A. dollars. (per' (813) Sterling notes. (por £1) Australian notes, the £1 Indonesien rnplikt (per 100) Rist sicais (per, 100) 'Bingapore (Straila)

19.03

atructural arrangements. The next year. for delivery in 1001, propelling machinery consista. Not only will. It be the largest of Admiralty, standard Hauge, 1nce in the Portuguese merchant diesel engines. The ship will fleet but it is also the biggest be fitted with controllable pitch chip to be built at the Neptune propellera Grossley Brothers yard With a carrying capacity Limited, Manchester, aro the of : 1,000 passengers, it wil manufacturera of the main operate between Lisbon and

and Portuguese-Africa.»- { uchificity."