1959-12-02 — Page 2

D.

THE CHINA MAIL, WEDNESDAY, DECEMBER 2,

1959.

THE CITY AND LABOUR

London Currently Have

Closes Firm

London, Dec. 1.

Stock prices firmed up In most sections of the list on Tuesday under the in- fluence

of

figures for industrial pro duction and the sharp

Great Deal

In Common

From Our Economic Correspondent,

London, Dec. 1.

HONGKONG STOCK EXCHANGE

Our Own Correspondent

Bus done at the linge- Sleek Excharage this morning anxunted to approx

Nnon quoin- mately $1,197,000, flon and the morning's trans-

actions:

BANKS 1K Bank

Noyees Rellers

1050 1010

alex

20 1043

1515

new peak No thanks to the wildcat strikers at London's power stations I am able, this gloomy morning, to read all the invest- ment advertisements in my daily paper: which cryptic offering is no more than INSURANCES my way of introducing twin subjects of this week's analysis.

Wall Street recovery,

*Trading valume, however, continued to entraet while the clemind for intushial Issues was selective.

drifter owen,

Insuanet

bonds

Strels, rugincering shures and ¦ leading stor Raineil round, i

should be unions On my right the City: on my that unde but motors were dul and air-i

Hrought back to earth and made crafts quieter after yesterday's left-organised labour.

This seemingly ill-suited pair realise that they are effec- Ti Bank. shares were in de- man while

Issues have at the mument a surprising tively parties to a labour con- frani which must be hancured. Zmount in eommon. E For etch, long regarded as a So there we have an increar- showed ednstant In the British way of ingly realistic Foreign lile, is

keen towards the City and subjrel DJ moved jubilie reppraisal, And while jorganised labour.

12:0 torner is the object 11 Signifying what?

Perhaps Best emotional stir-

cf Guld streke moved Irregular-fficial euthy, the other, the

Conservative whr! with feeling grow rheuld certainly rings

propagandist call "The pro- !

wing donocracy, general listv

The London Express Service,

Clovianit

*

small wri. bones and dollar stocks Jupiter.

ly but coppers improveri the or modity price and showed widespread gains.

Oils were Arm.

Halbert were dall-UP!.

Closing Prices

Bench ČOLN. WE

Kun "

Gillederd Bondy

Fejver don

Fei bog

AND-N

47,

2.1

J

1979

FELN £77-2/16 Lomn

tés

be so feo,

Revision

1950

19450, 65

Fulitur Shock 3. ANDO/2014

1

[DOUA -

4 12

Saving ... 1935/85-£NTZIA Surs 37. 200/-£4-2/16" Saves 1965/75-478-11/30

Bank* Barebosh Hank "A" td net-42%

Nitro Houk -55 1'el.

Harkonce

the

קוד

public's attitude towards City is revolutionary To mil- lens of erdingy Britons it has for Berather leve frightening and suspect. If new: aft serped firm the ganchil vohanns ofs hunt pres the i tidings were too often rinis ke

andri and crashes. The whole air was best left in the! upper middle class initiates

༈

its dat way. Anyway pewte didn't have money te play mat with

Changing

Lothard

SHIPPING

14ntetbeat

23.70

Wheelock

3.35

305 3000 + 8.00

20041363

DOCKS, ETC. K. Wh

140

144 377

30301

They'dent

13

Talkon Deck 20

publie pilude | LAND, ETC. towards B.K.

U.S. BANKS PROVIDE

S. AFRICA

WITH CREDIT

New York, Dec. 1. The Union of South Africa

today signert

15.00 1000 & 131;

200 20 500 5 2001. 3015

Hotel 32 32.75 2000 32,73

IK Land 37 37.75

1500 32 13

300421.73

Profit-Taking Sets In On Wall Street

New York, Dec. 1.

The new month started on a strong note on the stock market today and ended on profit-taking

that brought irregularity.

Electronics Issues met sub-Canadian Pacific R

anual realising that arned many early gales to loses in instances.

Chemleris which has ruled strong through meet of this day. fell of from their highs. Auto mobile Issues dropped from her

and near tops

closing time several showed forecs of $1 of more, Amerlean Motors jost all ot a gain of nearly $8 share run up early in the day.

Jns to

GAINS HELD

Many strong issues beid their the finish. Maty et 2000 or 37.73 these were in the steel sector.

2006 37.75

Some chemicals also were well 300 27.75 5003975 up on the day. Sa were many 20037.75 of the aircrafts. Norfolk and Western ruted higher in the rails. Specials showed gains running to mure than $40 share. Some drugs

500 1940

!

Humphreya

Realte

1940

140

300

Really

1:4 Ke

130

1950 1:45 5000 1.40 - 1374 2000

5700 140 500

Amule

וניד

toom ... 121,

79130 12

ווי 3. ...

19.)

*

370

Onen 20 353 3401591

A. Tawal..

4.30

UTH ITS

T

31

134 17

Youualt

127

100 134 120 127 10: Fil G

200 - 20.00 200.0 1033 200k 1400 70C) Sta 1,0 24,99 13230 100 $3.00

4136)

Cine (J.1.1 Co. Can. Tractor Celanese Con

CIT. Phattcial Corp. Chase Manhat. Bank Chrysler Moters Cluett Peabody Colgate-Patrolive Co. Colombian Carber C Commercial Credit

Consolidated Exilgan Canvilealed. Peser Comunners Gar Sandel 0.3 of Del. Cosmos feral Mills Crane Co.....

Cuban Amer, Sugar Dinued AlKƏN Diamond Garth

Dominita Stoma Douglar Airenti Dow Chemical Dupret de Nemours

Diors-Sengram

Eastem A-Li

Eastman Kodak

Pro Natura Got Fadly Fannie Corp. Fireston Tyre & Hubber Ford Motor...

Georgia Partic

General Dynanntes

had wide

General Tirrenis

gains end the metals ruled firm. Ulls an up fractions to more than $2 and held well.

Today's volume was 3,990,000 Phans.

Of a total 1.244 issues traded. 633 w.re higher and 398 lower. American Exchange volume was 1,400,000 shares,

Bande volume amounted to $0.090,000,

Closing Prices

Abiti Pwr, & Pape: Alden the Acy Algoma Steel Corp. Allied Chemicals

Allled Milla Inc.

כיפ12

Genral Fonts

17'

+4

4216

100%

20

47%

200

1627.

General Matars

Kien. Put

t:1.

Gen Tyre & Rubber

Getty On

Cik

Goodrich th. P, Cu

Gulf o

17.

World's Merchant

Shipping Fleets

Continue To Grow

London, Dec. 1.

THE world's merchant shipping fleets continued to grow this year. A total of 36,221 ships of more than 100 tons were afloat last July, Lloyd's register of shipping reported today.

Здрал

and Goumany now

have more tonnage than before the last war.

The total tonnage Way 124,933,478, an

€,001,748 tons over

Increase

of

last year.

The world total of oll tankers increased to 37,890,000 tons,

4.300.000 more than was FC- Tankers now gistered in 1958.

cent of all represent 30.3 per

New British Tanker Completed

42,000-TON tanker,

A British Power has gone

into service with tho B. P.

steamships al motorshups Tanker Co, Ltd. She was

built at the Belfast yard of and Wolff Ltd.

White overall tolls were Harland gral, the merchant fleets

of where a slster ship, the Bri- tish Statesman, was com- pleted earlier this year.

The Brith Power is single

me vantries declined. The United States, with 4,105 reserve, ships in service or showed tourage decine ni 302,000 to 23,387,972. The total

BUTT W STM turbine oil tanker United States

716 overall with a moukied thet, float but net in service, ( breadth of 95 ft, and a moudried

at 14,000,000 depth of 51 ft.

reserve

with Northern Ireland, 5.395 vel, Increased their

The vec has a well raked stand cruiser stern and is of

val

tonker design with

tommage by 471,000 to 20,750,535. machinery att, poop, bridge and Liberis, a flag-of-convenience forecastle dreks connected by country with 1,005 vessels, fue and aft ways, bent

Goodyezt Fyre

126

Common Afreraft

23,

[

of the

Farmowd Cha

Heyden Newport Porp.

27

Wat estimated

Blue Wilker

33%

Homeslake Mining

Kursovan Reflig

191x0

Shippera

of

Great Britain

Platin Power

137,

ard

Imperial Oil

134nd

Imperial Tobacro

11

States

over 11

banks to provide | Fectric Ri South Africa with a re- volving credit of $10,000,- 000

two-year

agree Flectric 113 ment with 11 big United | Nex

24M

301

Ingersoll-Rand

47

23.00

43

Intercheinteal Carp

In Business Machines

4+2

13.30

Int Harvester

40

howed a tonnage Ingvase of

International Nickel

103.

Allis Chalmers

International Paper

1,857,000 to 11,930,250,

Telephone 20 y 1:0) ** 20 43

Am. Brake Shive

DEAL

30%

300 30

American Airline

Johns Manville Co.

Japan,

Am. Cable & Radin Corp.

215

Kaler Industries

14.

200 or 307%

American Cyaranid Co.

Rangus C. Power & Light

45.

perind,

200 m3 3014

Am. & Pergi

Power

Kenneerut Copors

101

500 301.

Am. Ga & Bertrie

4644

Ligge & My

Tob. Co

80+

17)

0:

INDUSTRIALS Cement.

49'

Ly Tulpp

'

Litton Ind.

1104

નામ HE

241

572%

Lockheed Aurerati

32

Loewɔ, Latoang

Lone Star Cement Co.

2024

11

| McDermott J. Ray

ING

3312

1024

148

212

The British

tasker Nect

50%

531

Alteralt and Metore

Corp.

But of late attitudes have birt The "ttle man has changing. space money and prepared to invest . Suspicions of the City are dropping away and to- "little man" as creasingly ze Baca Jastrahce Canton---£5-3/14.pared to have a dubbio... Ord-20sculatively or investment arise. Growth of unit trusts and e- cular crop of advertisements by

elvic nuthorities} The agreement 'supersedes ont ("£100 and upwards") are sigres existing evolving credit

And the specula$20,000,000 of the times.

which expires on Hive element among "little men" denuary 23,

ha been in a small way res- Some of the funds are

1,5

15 Mini

Ford Motor 17 1024 Dad. 20:mate 14 A 10-

Standart ruh International-on-seeking

Der 40 335 11

Elreweries

Being and Statertale

Cement

Assurlated Portland

Panela Jednyam Astoelate: Oil-ponsible for the behaviour of the ected to go into South Afrkin IgTONES, ETC.

post-election boom on the Lon- iransport

Coal, Stery and Farineering

Babeck & Wire Ltd - -45-4

V 1.49-3.

food and Tubatro

Botek Meeran Tub. Co.,

05

31

Imperial Tubarto

D. 140--65

Je Slak Exchange.

investors re-

These changing attitudes hore, the Govern- jhowever, satdird Ltd--ment with the responsibility of

ceing that new main anbitten and towards this end they have just set in train field of private ing the entire investment

Miscellaneous Hardman Marden Bad- $0.

kh Oxygen £40. Ord-6 three-part programme cover

31

Durden Rubber (-25%. 30154.

Henckung & China Gas-

Imperial Chemistral - 544 194 Tarons & Co -26% 3

Unilever ad- 1294 41d.

J'aper

nawater

Paper Cuen Ort-64 3d.

and Elretrical Fleetwal-4:0^. Electrical & M steal-77% 48.

Amelated

Engish Electric Co-4

General Fieritre -40 ford

Shipping Todo-China Steam Nav

ord -324 fid.

Three Parts

The three parts are:

•

་

Co. def

P&D Sean Navigate the ord -42% d

1'

Stoter

Great Universal St* "A"-524

Marie & Spencer tad tas & Woolworth P. W. & A-Gas 60.

Textirs

Coats J & P. Lid3; 44. Com lande i H

Mine

Angio-American Curp of South Arte-203 t

Com Cokfields of South Africa- 95 1010.

Cons Zine Corp. Ord-7is.

De Beers defis 00,

Free State Development & Invest- tent-ba.

Hongkong Tin-ds 1124.

Tlos 450. Band-itca 6d.

Southern Kinta Cons Ltd-31 3 Union Cerp-70% 4:50.

West Driefontein

112 Od

Goldmining-w

West Rand Cons Els 11⁄2d. British Bornen Petroleum Syndi- este 500 71.

34

Bath Petroleum Co., Ltd-54

Burmah-478 3.

Royal Dutch Petroleum-£15 Shell Tranport Trading-145

Deuter

Exchange Rates

Buslars was done in the

Ini

thi

A Committee headed by an appeal court judge to in- quire into company law

Introduction parliamentary session legislation on building soric- Lies and consideration of unsecured loans or deposits frict desirability ol NEW legislation for the protection of the investing public;

3 Stock Exelange Council examination of criticisms of substance about Stock Ex- change procedures.

So much for the City. Public attitude towards trade shows signs of unionism also

changing.

The origins of trade unionism in Britain ore honourable and hallowed.

the fact that Ind they are hallowed is part of the trouble with contemporary trade unionism here.

up

|

1000

1000

30

500 D

CX-

500 6 30

listed

по

facilities, but the pairs

specifle

20 20 20 30

500

20.20

400

20.30

500

/ 20.20

Wakoon 1.0.

MIKU

Craw 25 10

100

25.80

01.05

Chase Manhattan

agreement [objectivesi.

Participating US banks are: Bank America, National COTTONS Trust and Savings Association; Textiles

Bank;

Firs: of New National City Bank York; Bankers Trust Company:s. Kelantan Chemical Bank New York Trust Company: Continental Illinois, National Bank and Trust Com-Nony ng pany of Chicago; Hanover Bank;

Mamafacturers Trust Company;

Mormon Guaranty Dust Com pany of New York; First Na tional Bank of Chiengo, and Irving Trust Company.—AP.

Yesterday's Closing

1003 - 36,75

1000 9

1000 895 100090 3000 $5 2000/0 2000197

5000 1.93 3000 - 1,99 1000 14.00 300-17

Fionn or 14:00 1000 14 d

Am. Home Prod. Am. Mach & For American Metal.. Am. Natural Gas

American Strelting Am. Sugar_Bet. American Tel & Tel. American Tab.

Anaconda Copper

Armco Steel

Armour...

Asbeston Corp.

Alla Cons. Mining

· Bakiwin-Lion-Hat

Baltimore & Oil

British Columbia Elve British Chambla Pwr. Calif. Packing Corp Cina. BX. of Comm. 'C'ana

Browsers Campbell Sexip Co.

1 BO ENO

M

JARD 1500

INVESTEMENTS

A 40

5.05

FE Invest 1215

107

031

74

301

Tel 4 st

77% aleDennell ATOM

Minpeta Mining

Malun Development Molson Brewery

Montgomery Ward

واز

ونا محمد

Mousantu Chemical

401

Bank of Nova Scotia Beech Life Savers Bell Telephone

TO

National Biscuit Co. National Cash Reg. "A" Nation Lead

324

Nadunat Steel Corp.

4214

New York Central

Beneficial Finance

Noranda Alnes Ltd

45

Hendix Aviation Corp

0104

Borfolk &

Western Ry

50

| North Amer. Avinding

J7

Benguet Cuns.

|Fethielmo kiert

5412

Northwest Antines (Com.)

3217

Calin Matton

52

Boeing Airplane

32

Borden (Tiel Co. Burroughs Add Machine (Brithin Amer, Odi

Olis Elevators

BITS

731.

Oxford Paper Co.

Pacific Gas & Flee

01

fon American Airways

22315

401

Paramoura Pletubes

Parke Davis Co.

M1⁄4

unquo

Penn Salt Co.

COMMODITY PRICES

May/June: 23.452 Oct/Nov: 215

23.13.---UPI

23.40: 22.93;

SUGAR

NEW YORK

Closing prices ull in cents per

Ib.:

а

There 1:as grown

10 regard trade tendency unionists as heirs to their carly martyrs and any attempt to make them concede that their role is more mundane is met with a prickly Jealousy. This altitude has always found a large mea- sure of public sympathy.

But a rash of wildest strikes by workers in key industries in local! denonce of their elected leaders

unofficial exchange market. this the gesture of London's power

morning at the folkwing

US dollars (per $1).....................

Sterling notes" (per (21)

Australian notes per zij

Indonesian rupiah (per 100)

Stain Deals (per 100)

Singapore (5uitsi

5.69 #tation workers being tetest— towards joling

15.65s gone lar

12.50 public attitude.

2.00 20.00

Now the feeling grows and in

1.9 some quarters is openly touted

NOTICE OF CHANGE OF TELEPHONE

1959

to

NUMBERS

Please be advised that as from 1st DECEMBER

telephone numbers

our

will

35821-0 (10 lines)

JOHN MANNERS & CO. LTD.

Manners Engineering Ltd.

Manners Godowns Ltd.

Manners Insurance Ltd.

Manners Navigation Co. Låd.

Manners Trading Ltd.

If. Skolt & Co. Ltd.

U. Spalinger & Co, Ltd. and Associated Companies.

be changed

Contract No. 4 (world)

Jan: 30 Mar: 3.21: May: 3.13; July: 3.17: Sept: 3.19: Oct: 320: Jan: 322 Mar 30 Spot-(f.o.b. Cuba: 23: Total Sales: 210 ctntracts: Oper

interest: 8,305 contracts.

Contract No. 6 (domestic) Jan: 5.70 Mar: 563: May: 5.87: July: 3.78: Spot (c.l.f. NY duty: 595; Tulai Sales: 22 contracts: Open interent: 1.787 contracts-UPI,

COTTON

NEW YORK

July/Aug: Lead

Dec/Jan:

Dee

Јап

Zine

Dec.

RUBBER

JAK

Copper

Dee.

Jan

Note:

514

Penny J. C. Ca.

Bowen

•cter & Gamble Cr.

Pittsburgh Plate Glass Radio Corp. Pet.

Raytheon

Republic Steel

Reynolds Metai

Royal Bank of Canada

Secrs, Itoebuck & Co. Shell 1 Co.

Safeway Story

Schenley Joe. Sinclair Oil

Smith, Ruine & Freach

Socony Mold on

Solar Aircraft

Southern Co. (T0)

Southern Railway (Com.)

11.26

Standard Brandi

11.00

Standard 011 of Cal.

Standard Oil of Ind.

Standard Oil of NJ.

Steel Co. of Canada

12.54

Stokely-Van Camp.

31.73

Stone & Webster

Sunshine Mining

Trading in tin suspensied

until further notice.

LONDON.

Sterling Drug Co.

Studebaker-Packard Com.

Swift & Co.

Texas Co....

Texier Inc.

Clesing prices, all in sterling Thokol Chem.

1 per long lon,

NEW YORK Rex rubber futures closing prices, all in cents per lb.;

Jan: 41.05: March: 39.35; May: 38.35; July: 37.40; Sept: 37: Nov: Ti 30.60; Jan: 30.

SINGAPORE

Closing prices all in Straits Ib. 1.0.b. Malayan cents

per

ports: No. 1 Det.

Jan.

No. 2 Dec.

No. 3

No. 4

Spot rubber umbaled

Blanket crepe

No. 1 pule "erepe

Closing prices all in cents per Ib.: 1b.:

Spol: 32.85 nom: Dec: 32.05: March: 33,06; May: 3327: July: 33.80 Oct: 30.01: Dee: 30.001 Mar: 3.11: May: 3131

LONDON

115-116

Time inc

45%

Germany and Greece

now cxered for the first time

deck at and upper bridge and navigating bridge decks amid- chips.

! divided by transverse! 22<t with Jupan

2,775 bulkheads into 44 oll carrying vers la hud

tennage of compartments, and is framed throughout the Germany with 2,501 longitudinally

and pump ship tontoge of 4,535,441, cargo spaces and Greece with 480 chips n and transversely at the forward

and after ends. fonnage of 2,150,938.

The bull Zhe tonnage they owned in longitudinal

1938

6,278,889;

Commonwealth:

Toom

Is There

onc mala and

cargo forehold

and under

frow by 410.000 uproom tons to 6,708,000 tons. Liberia pumpason.

two calferkams, il

lock the lead in tankers from Gastight cargo hold the Commonwealth with a total this space two deep tanks for 0 7,078,000 tons.

After The Commonwealth tanker

576,000

tons).

the

oil fuel.

The in

propelling machinery

A Ялдіс screw

tonnage come Norway consists of with 5,920,000 (increase orrrangement of double reduction United articulated type geared turbines State with 4,340.000 tons (in-having a total service power of

ose of 231,000

and 10,000 shaft horse power, tons) with 2,551,000 Panama

tons (increase of 237,000 tons).

AP.

Survey Of Sunken

Sicam at a working pressure of 000 lbs. per sq. in. and a total temperature" of 880 de-

the grees F. nt

superheater cutlet s generated in 1wo Babcock and Wilcox water tube boilers. They are complete with superheaters, economisers,

Air

Ships Off Indonesia stan heaters and drum

Tokyo.

FFY Japanese salvage

experts have

started

type de-superheaters, and are arranged for oil fuel. burning with forced draught.

surveying Indonesian waters Big Competition

for sunken vessels which con

40 be salvaged under Japan's In Plane Industry

COMPETITION

London.

In tha

Shoten, one of five companie supply of civil aircraft

234

49

reparations

account

with

42, Indonesia.

8732

3124

1036

A spokesman for Matsukura

3024

21

42152

8474

214

2015

represcted on the team, said, "We think at least 92 large vessels can be raised."

are

"Hundreds of ships known to be lying at the bottom

14392 of the sea around Indonesin," "But we cannot

Tri-Cont Warrants Union Carbide

Buyers Sellers

117-12715

Spul „3-month Copper Spot 3-munth Lead 1st hair

Dee

702

Union O11 of Cal, Unton Pacifle Railway

Aircraft

421

30%

稍暗

United Gas Corp.

a

240

241

US. Foll "B"

2345

11.9. Gypsum

0315

V.9. Line Co.

1134

713%

U.S. Rubber

007

116-117 Zhe 1st half

Mar

72

71

US. Smelting

29

U.S. Steel

US Steel 1 P.C. P.F.

141

115-118 115-113

Mur.

DG

Warner Bros....

4711

---UPI.

Waukesha Motora

4372

Westinghouse Air Drake

Westinghouse Electric

2011

Wedern Union Tel. Co. West Vs Pulp & Papde

6812

or

120

----UTL

120-121 1119-3135 130-722

Closing prices all in pence per

FOREIGN ENCHANGE

No. 1 Rapat

Settlement nouse term: Jan/March

33-3514

20%-30%

Apri/Juna July/Sept. Det/Dec.

346-32

crepo

31.3114 3015-5019 General markets, c.lf. basis, ports: 3474-3424 Estate

40

NEW YORK Closing rates:

Oce. Vain thick Dee AMSTERDAM

Caneda

1.0814

England

2.80 2.8025 2.11 Z.TD

2.8040

NEW ORLEANS Closing prices all in cents per | Dec. b.:

Spot: 31.16 ham: Dee: 54.00: March: 33.51;

July! May: 13.20: 32.50 Oct: 39.90; Dec: 30.94; Mar:

31.14 May: 1.14.

SAO PAULO

At unquoted.

Average price in US at 14 de signated spot markets: 31.87 cents.

Total sales: 163,721 bales.

LIVERPOOL

Closing prices all in pence per

American Contrnol

221.70: March/April:

Closing prices all in guilders per kilogram, ei.t. Dec.:

No. 1 rubber

No, z rubber

No. rubber

No. 1 crepa

امتعاكان

30-day Autralia New Zealand 3.30 not, Souls Atrice

Others unchanged.

3. nom.

3.28 nom. 2.03 пот

UPI.

METALS

23.43: March/April: i per lb.:...

NEW YORK

Closing rates!

New York

Montreal Amsterdam

Brumeis Copenhagen Fronictur Osio Paris Blockhobn

lb.:

Dec/Jan:

27.90:

23.90;

May/June: 23.06; 2017/Aug: Oct/Nav: 31.80; Dec./Jan:

Z1.00.

Mixed Contract

Clasting prices, all in cents (Milan

Zurich

LONDON

2,30-2.8015 10.0734

Winn-Dixie Stores

Woolworth (K, W)

Zenith Radio

TIN COUNCIL

MEETING

London, Dec. 1 The 20th meeling of the Inter- national Tin Connell opened In London today.

It was expected to meet for two or three days, behind closed doors.

were:

It was understood that tho 230 240 2/16 main questions on its agenda The export quota for the Arst quarter of 1900;

140.08-140,07

163–18.3044

11.08-1135

10 2011-20.0015 13.73)2-13.731

14302% 14.51

he continued. salvage all of them."

He said 131 feet is now con- sidered the maximum Tonsible depth for salvage

operations "Because

reasons,

of various other

JA

10

shall have restrict our objectives in the

was intense, Mr Geoffrey W. Hall,

chairman and managing director of the Fairey Company said at the annual meeting here.

"Not only is the industry in this country facing difficulties, but it is more apparent that even the largest aircraft arms in the United States, in splic of far

military greater

markets, cre similarly affected," he said. Mr Hall said that the

com-

Indonesian waters do a 65 feet pany's trading profit, before de- duction of research and develop- depth."

"mostly

ment expenditure. had fallen

He said in Japanese shipa shallow waters.

REPARATIONS

He said he understood the 93 (from last year's record of over

are £2,770,000 to £1,114,000. vessels tentatively picked

that the firm was within a few weeks of signing a £4,000,000 development for his company's Roodyre-a vertical lake-off airliner--which would enure Covernment support. There also appeared to be every probability of a military order, in addition to an order from British European Airways for six.

Mr Hall said that £193,000 The. Matsukura spokesman had been set aside against future

against the declined comment when asked | Insges

company's, subsidiary, Avions would happen if some Belgian what

had been losing. of the salvaged ships turned Fairey, which

*All... tha scrup metal T covered will be given to the Indonesian Government as re- perations for World War II distrage.

out to be Ailled vessels aunk money, after showing a profit for

the past two years. by the Japanese.

In the JAVA Sea Zattle tri Mr Hail ascribed thežo lorres February 1942, a combined to Bevere competition, over- Allled feet of 17 Dutch, British, stringent interpretation by the American and Austrailia erti | Belgion, Government of the re- And the deafing of anaw |sers and desitürete waha subit quirements of the contract, and (in agreement which will be near Sumarang some discussed at a United Nations | tilling entførenes in New Yorks in May the | 3140-AFP.

Allies Surnarang osasi,+AP.

Mres

VETY

Down

by factors within our Belgian by organisation." Steps had been the taken to prevent recurrence of 'the losses.--China Mall Special.