4
THE CHINA MAIL THURSDAY, JANUARY 21, 1960.
SLIGHT CASE OF NERVES
Europe's stock Sugar firm formed to markets react
help poor on London trend
countries
Honolulu, Jan. 20. Hawail's "know how" in the sugar business may soon he put to work in under- developed countries of the world. i
ed on
This was the possibility rats- Tuesday with the an- nouncement of the formation of a joint "Sagor International," veature of American Factors Associates, a Hawaitan dredging and construction company, and the San Francisco dredging m of J.M. Pomeroy, and Company. The American Factors Pre- sident, Mr G.. Smith, Chair. man of the new organisation, sall Sugar International will be capable of building and operat- Ing all or any part of a com- sugar Industry in day plete Country Uroughout the world's sugar belt,
The new assockation ulrends has sent a man to the Sudan to bid on the job of setting that country up in a $50 million sugar industry.
A Sugar International man will go to India, as well as Aftien next month-UPI: '
Bank offer · extended anothermonth
London, Jun. 20. The Hongkong and Shangha! Banking Curp. announces hal arceptances of its offer to ac quire the whole of the issued capital of the British Bank of the Middle East have now been received in respect of over 67 per cent of the issued
share
shares of that bank.
London, Jan. 20.
A slight case of norvos rattled Europe's
HONGKONG London improves
STOCK
EXCHANGE
高い
Our Own Correspundeni
to
op-
stock markets today · and part of long, Stock Exchange this: the blame landed on a British television programme.
Despite drops in share pricus Finally it showed new sity'-
as selling pressure drops
London, Jan. 20.
Business stone at the Hong-
amounted morning
$1,099,000. Noon A slackening of recent selling pressure and the re- proximately guntations and the morning's | tranfuctions:
appearance of bargain-hunters gave the stock éxchange a brighter look today.
on Monday and Tuesday, how-seropers looming up in the City, BANKS
saw the Con- over. experts tinent's national economies DA and and forecast the jitters so will be over.
London's financial square mile A comimentator sardonically re- marked that they look ideal for jumping off.
Sheres Buyers Fellers
Sales
1103
Whestuck.
0.20
0.13 1300 65 2000 8.30
DOCKS. ETC.
of
Dock...... Provident
Takoo
5016
41
37,30, 2000, de 17.00 1100 11,40 a
LAND ETC. EITE Hotel.
A host of reasons contributed
thousands The effect on to the decline, among them a Britists Brondensing Corpora-small investors was immediate tion magazine programme enlied and storting. "Patioruma,“
They rushed to sell stures Ou Munday night. It surveyed and so make sure of the prodi which the past year's rises have which 109
them. In Tuesday's the price o marked the London Stock Ex-brought
trading industrial ordinary past year-but
brace prices dropped by about change for the
two per cent, or 0.8 points on started the show with his shots of Wall Street suickies during
the Financini Tires index. de 1929 slump.
European markets fell back too, partly under London's in- fluence
New York market
recovers
New York, Jan. 20. Steels, motors and chemi- cals helped the stock market locate the upside in moderate fire1-hour turnover today.
Lic
in the
Brokers promptly termed rise technical recovery weke of recent sharp declines. The market has registered only two advances in the last trading days of the New Year.
The Industrini stock averago rise of nearly three showed Du Pont, which paced yester- points after the first 30 minutes. loss of seven, picked up more than two The offer will remain open today's decline with a the remaining three per cent of
in the early lading. shareholders until February 25, 1080.
If they accept the offer to exchange their shares for new shares of Hongkong and Shang- hat before then, they will be entitled to the final dividend for the year to December 31, 1959, which has been forecast £1-178-6 a share. China Mali Special.
Exchange rates
Butkies was
morning at the following rates:
i
Youngstown Sheet added more than a polat in the steels where U.S. Stoel and Republic gained fractions. In the motors, Ford, Chrysler and American med while GM cased. North Ameri- can Aviation added more than paint in its section. t General Time was
and Zenith end TextS inents one or more. Oll of Californky, tacked
International While
Machines dropped three. tional Lead moved up more one.
JR Land Humphrey thealss
....
RUBBER Analg. Trost .. UTILITIES Train
Goman shares lost between Yauat Three and five paiņis, and C. Light chemicals up to nine, Lack of
foreign orders was one reason,
In Belgium the Brussels market
reported extremely low
nas and the similar falls,
bust-
The television programine was
not the only cause for caution,
::
and
Imperial Chemicals selected steel shares led the way with modest gains.
British Government bonds were quietly firm
Oila
were Irregular, ibu: lenders chalked up a sprinkling of plus signs. Golds and cop- pers were dull.
4192 4214350442
1.55 16000
Dollar 10000 ONS
E178 425
6.30
-6.30 B2006 1.49
33
20033,20
1500 33
stock: were marked down again in response to the weakness at the Wall Street session of the day before.-AV.
Closing prices
Cutedred Dorag
3
Consoly 2—£40-7/10. Consol 7139. Conversion Low 34% 404-1/10.
1078/88-
200 +
1000 32.
130 18.40 10.70
900 / 10,00
British Transport
000 16.00
1300 64 19 20 1050 10.20
G006 19.40 |
1000 10.90
30001690
300 GF 30
6000 18.00
Loun
1039
Loan Funding
3% 1960/90- €847
Funding Block 21677, 1909/2004--- LIL
Funding
49%. 1930/00
4800
18.50
£past
200
18.00
23.00
24
500
245
Gt 24.20
300 23.03
350 € 23.00
"
(New) 22.40
Macap E. T&,
11.20 012214
100 $230
200 er 32:5
nor was it the most important. Electric
Bank rates
Both In Germany and Britain market men expect ameinidom soon to increase bank lending rates in order to put brakes on the boom,
The effect of these increases W be to reduce the amount of
INDUSTRIAL.8 money available for investment Cement and speculation. Share prices wil assuredly suffer, though
and temporarily only severely in the opinion of mar-spores, ETCH
ket experts..
not
Datry
A pointer to the general trend where the Copenhagen market Watson
L. Crew has been
opinion came from Denmark.
irregular for
COTTONS Textiles days,
some
Nanyang
Vibro
500 32
4224
400 6 SA 2000 49.03
1300 7 4710 2000 42.50
600
4725
Savings 3% 1935/85-£91-0/10. Savings 3, 1980/10-212,
Savings, 1905/75-16.
Banks
Barclay's Baik "A" Ltd wid-30% Chartered Bank--80a3d
Hongkong-K
-In@arance
Union neurance Canton-5-13/10.
Aircraft and Motors
British Motor Corp. Ord d De Havillant
Ford Motor theru%-31% 341,
Hawker Siddeley Group Ord-32# Rootes Ltd “A^*~-20#_101⁄4d. Standar Triumph Intranational-
Breweries Distillers Comme
Building and Materiala
Portlana Cernent--700
Radio and Electrical Awoclated Electrical-3. Electrical & Musical Blu FILE. English Eletro Ced General Electrio 443 34.
Shipping
Indo-China
Steam Nav. Co. del OT-32 (15
def P 40 Steam Navigation ord-47 kl.
Stores Universal Stores "A"-51
Marks & Spencer Lt71# Woolworth ́r, W. & Co-65%.
Textiles
Conte J & * Ltd -32 iki. Couriouid Ltd 610 34.
Mines
Come Goldfields of South Africa 04.
Cona Zine Corp, Ord-748 ed. Honour_1700 450
Petaling Tin-7* Ül.
Rand 10 B
Southern, Kinta Cons Ltd--300 Jd. Union Corp-039 04.
West Delefontein Goldmining- 10 1014,
Borneo Petroleum Syndi- "Petroicam Co., Ltd-678
Britis Burmali-la Och,
Royal Dutch Petroleum-E 18-15/10,
+4 Trading- Shell Transport
Reuler.
134 34.
UK's national
NSPORTATIO
New Empress of Canada to be launched in May
THE Canadian Pacific's newest and largest White Empress liner which is being built at Vickers- Armstrongs Newcastle Naval Yard will be launched on May 10th, 1960, by Mrs John G. Diefenbaker, wife of Canada's Prime Minister and the ship will be named Empress of Canada.
The new Empress of Canada. Hngship of the fleet at 27,500
gross tons, will be
the largest New yacht varnish
liner to sair into Montreal and will join the Bater-stilps Empress
of England and the Empress of with long life
NEW varnish claimed
AN
Britain in the St Lawrcire ser- vice between Montreal and the United Kingdom In April, 1931. Smartly streamlined, fully air- conditioned and equipped with stabilisces, radar
years has been in- uther! several modern navigational able, the troduced by a U.K. firm. It Empress of Canada 650 foot
and
is
have
lifo of
far yachts, racing
long, with breadth of 80.6 feet will carry 1,000 passengers, 200 dinghios and first and 800 tourist, at a service craft.
speed of 20 knots,
Sheltered decks
appointments have
other small
Based on
a catalysed poly and other urethane (a new, tough resin) It
boen de has what is known
build"
is
TC-
as "high signed with an eye to regular | sim
requiring tower service on the North Atlantic conts, and giving superior but air-conditioning and two muts. swinning pools 'make the now
A special ndvantage over con- that, Empress enrily adaptable to ventional varnishes cruising conditions in the troples where a clear fulsh is required during the winter season.
underwater, say, on the hull of a racing dinghy, it is now no jjonger necessary to take the boat out of the water when not in uselt being possible to leave it afoat for quite long periods, Although 1 is toxic
debt shows Big ship-launching
big increase
London, Jan. 20.
programme at Belfast out the him is sundently
hard to make
I has
THE first launch of 1960 affected by regular weekly or Anointed 22.00 21.30 1600 77 23.30
The Belfast ship- also a high initial gloss and good Pinchin Johnson Amodates Ord-Britain's national debt went up yards of Harland and Wolff retention properties. 23
2240
21.
Bonds have fallen--because the Danish lending rate usually follows the British rate, which MSCELLANEOUS the Danes expect to go up.
INVESTMENTS
& FE Invest
Capital expansion
But
market
experts say share prices will renew their advance soon because employ- foreign currency record levels, ехрадзіст 1
up two.ment is high,
Instru-boldings are at Superior and capital
on five, planned in a variety of in- Business dustries.
Na- than
Closing prices
done
unoẞiels exchange
in the keal thin market
3.60
Alked $31. Inc
15.86
Am. Brake Shoe
12 11 100
Am. Cabin & Radko Comp...
Americas Cyanid Co.
US dollar per $11.
Sterling notes for Eli
Australian notes (per 21
Indones (per 100
rupiah (per 100
Sitcom
Singapore (Kiraita)
OFFICIAL NOTICE
21.00 Am. Gas & Electric
11 Ain içme Prot
A. Much. Fry.
Am. Sugar Ret.
iteneficial Finance
Benguet Crans.
Analysing the Brilish jlters, the Financial Times forecast that the full effect of the selling phase has yet to be seen,
But 1 addled that the big 3710-term buyers-institutiong 58 like insurance companies and rich labour unions--still are in
11 5312
47 the background ready to shop.
141 up share bargains-"and the
3300 23.20 1000 2.10 4090
9.40 2000 43 9.40
2000 49.40
3000 & DIR
14.70 1000 14,00
15.70
0.70
13.40 13.00
7
Increase in UK's
unemployed
London, Jan. 20. Unemployment in Britain 10-
creased
almost 40,000 between December * And January 11. according to Ministry of Labour figures released tonight.
The total register of wiem-
favourable industriel, picture; ployed now stando at. 480,000
JDER
23A%
has not changed,"
1%
301
06
Burroughs Add Machine
32%
Dosing Airplane
Borden (Thes Co.
Calf Packing Carn.
Proposal to change à Ship's compell Soup Ce
name
.: Ca Tractor
1, Yun-Skin Zee of 12A Kal Yuen Terrace, 3rd f., H.K., heroby give notice that in consequence of Change of ownership. 1. have applied to
Celanie Corv
C. 1. T. Financial Corp Quett Peabody....... Columbian Carbon Co. Continental Oil of Del, Puugias Aircraft
Dammond Gard
Dr Cheintent El Paso Natural Gr Franty Finance Cury Firestone Tite & Rubber First Nat City Rank
Gen. Tire & Rubber
the Minister of Transport General Dynainles under Section 47 of the Merman Atrerait chant Shipping Act, 1894, in
respect of the British Steam ship RIVER CLARENCE of HONG
Hammond Organ
Gulf Oil..
Idaho Tower
Inland Steel Co. Interemteni Corp, Kalmer Indiantries Kimberly Clark Liggett & Myers Tub, Co. Official Number 174699 Gross Lowenstein & Sons,
ML Dermot J. fny
KONG
REGISTRY
tonnage 6031 tons Register McDonnell Aircraft
Melobi Iron Corp., ............
Mantecatini
Mutorola Inc.
National Facult Co.
Rational Dairy Prod, National Steel Corp.
tonnage 2562 tone, beretofore Monento Chezalcat Cu owned by Australian Coastal Shipping Commission for per mission to change her dame to GOLDEN ALPHA and to have her registered in the new name at the Port of HONG KONG
Aл
Norfolk & Western By. North Ainer. Aviation
Northwest Airlines (Con) Owen-Bigols Gian Oxford Paper Cu. Panay, C. Co.
Philip Morris
Publicker Industrine
owned by Tho | Printer & Gamble Co. World-Wide Staamship Co. Pure Off di
Marina Ltd., 420 Hongkong.
Radio Corp. Prot.
House, heen Mfg.
**
*Bears, Hoebuck & Co.
Safeway Store
| Saint Ker. Paper
Paper
Solar Aircraft... Beuthern Co. (Thel
Bouli Puerto Nigo Bugar
Aouthern Natural den
Any objection to the pro-smith, Kline & French posed change of name must be sent to the REGISTRAR OF SHIPPING of HONG KONG within SEVEN days from the appearance of this advertise-Tide Water Qu rdent.
Dated at HONG KONG the 20th day of January, 1960,
The World-Wide Steamship Company Limited.
perry Rand
Bubahine Mining
extrum ne...
Takikot Chem
Time Inc.. Tri-Cont. Warranta
Twentieth Century Fox Fim
Union Oil of Cai,
United rust...
Delved Don Corgi
1.5. Steel 7 P.C. PF,
Wauki Motor
stayed
or two decimal one persons, per cent of the population,
The Swiss murker steady und. viewed the fallback elsewhere as an overdue correc- Speaking today In Stockport, Cheshire, Mr Edward Heath, tion to zlyhigh prices. Amster- dem dropped back with the Minister of Labour, said this others sad put the main blame increase in unemployment was
on lack of forelin support for Dutch stocks.—AP,
Yesterday's Closing
0.000 less Gun the normal | seasonal Incercase.-Reuter,
ad.
40% 73942
Coul, Stoel and Engiørering Babcock & Wilcox Id=45μ·IV1⁄2d.
United Steel-87s 31.
Vickers Lidl-305 04,
Food and Tobacco
British American Tob. Co., Ltd
67 73.
Imperial Tobacco Co., Ltd-Tos Jd.
Boardman Marden as 04.
Canadian Pacifie TaySATY Dunlop Rubber Co-2 14. Hongkong & China Gao-130, Imperial Chemical 60 ch. Lyons & CD-82# 34. Unilever Lidl-13 0.
Paper
Bowater Paper Corp Ord—le 3d.
-
ended March 1958, the Tres
The firm
becomes duiled after prolonged Ltd. took place on January claims that even if the surface 15, whan the oil tanker exposure to severe weather c07- appearance William Wheelwright en-ditions the original
may be restored by burnishing with metal or car polish. Mic terad the water.
This vessel la 46,000 tons-the varnish can also be used for and attins largest Lanker yet built at Bebinterior furniture
stand the first of new fleet where it will withstand ball-
by £144,000,000 in the year
sury announced today. Chief factors making the rise were £323,000,000 in advances to the nationalised industrita and an increase of £94,000,000 borrowed under transport acts,
of tankers being bullt for the ing water, hot pans, hot fat, and Leading the field on the cre-Pacific Steam Navigation Com- even the spillage of alcohol,
Another 40,000-ion vessel petrol, oll, paraffin, dits side was a budget surplus pany.
battery. of revenue over expenditure of for this comparer is expected to acids, and so on. £377,000,000-UPI.
Slow recovery
from world
trade recession
London, Jan. 20.
Economic conditions during 1959 had been rather
more stable than in 1958, Mr Harold Hopwood, the retiring Chairman told the Institute of London Underwriters at the annual meeting today.
COMMODITY PRICES
SUGAR RUBBER
NEW YORK
Closing prices all in cents per
265523
METALS
LONDON
be launched about the middle of
the year, and o
third ship of
28,000 tons is in the carly stages U.S. shipping
of construction.
The launch of the year will
take place on March 16 when
Dame Paili Menzies will name prospects
11
45,000-ton liner Canberra,
the largest passenger ship built
In the United Kingdom ainee the
Queen Elizabeth.
New York,
JOHN J. Allen, Jr. Under
Another important event will Secretary of Commerce be the launch of the Arlanza by for Transportation, sald ro- Lady Dorothy Macmillan on a
in
tho
date yet to be fixed in the spring. contly that there are signs The Arlanza is the Inst of three of improvement passenger and cargo liners built
United States
shipping for the Royal Mail Lines Ltd. Aj sister ship, the Aragon, is now situation after setbacks in at the Atting-out berths and will fattor part of the past be completed in the early port decade. of the sour.
A tanker of $2,000 tons for
He urged greater merchant
Eisenhower's world
under
the Norwegian Sigval Bergesen marine activity in support of group 13 scheduled for lunching President
In later the year, and two trade programme, smaller vessels for this group "Our liner vessels, are also under construction subsidy, have not had too di- A vacant slipway will shortly cult sailing, but privately own- American tanker, tonnage be occupied by the keel of the ed
Navy's new missile has had difficulty in finding e- Royal
Other ployment, and the American destroyer, HMS Kont. Admiralty work in hand includes tramp segment of our merchant the Atting-out of the frigates feet continues to ske out Trishul and Berwick. For the precarious
existence," Navy there
the Allen's text elaled aircraft
Ho sald the recovery Inom the world trade recession had been slow, but gradual and had the appearance of continuing. The rampant spiral of inflation had Blowed down
many
09 parts of the world and CONSEQUENCE ship repair costs had remained generally fairly modernisation of the
carrier Hercules, to be renamed steady.
וז
Last year had started with approximately eight percent of
Indian
Vikrant.
world shipping Jaid Criticism of
tonnare
up and the significant figure 10-
drry was probably not very dif- ferent.
Mr Hopwood said that it was reported that over three mi-
Closing prices, all in sterling Bon tons gross of pro-war and
NEW YORK
20
100%
lb:
Rex rubber futures prices, all in cents per lb.:
closhu
Contract No. 4 (world)
Jan.
0915
March
2.07
March
19123
40%
MEY July Bept,
3.04
May
410.2 30.05 30,00
per long ton.
Buyer Gilera
July
39.43 Tin
Sept.
#7.30
Spot
705
10
Mar,
Nov.
37.35
Jema Onli
700
Copper
May
Тать
30.00
Sipes
225832
120
Total Sales: 271 enatenets.
J-month
Contract No, 0 (domestlo)
Lead Zad half
BOR?
March
0.400
241%
MAY
0.48
July
6.00
Shops.
5.711
ports:
April
Jan.
74%
M
Mar.
0.74h
No. 1 Fob.
Apel
021
Total Bales: 231 contraels—AP.
No. 1 Mar.
No. Tab.
No. Feb.
No. 4 Feb.
113-114
Apot rubber tobnie...
110-11576
Blanket crepe
113-1142
1301-1
LONDON
COTTON
LIVERPOOL.
SINGAPORE Closing prices all in Bialia
cents per ib. fo.b. Malayan zine and hait
11496-12474
214-114 216-11438 113-11434
tia, 1 pale crepe
Closing prices all in ponco per Ib.:
Closing prices all In pence No. i Rime, vpsh per Jb.:
Mixed GosieROS
********* 2016-3054 Settlement house term
•... 2016-09LL
FOREIG EXCHANCE
NEW YORK Closing rates:
Charma
21.70 General markets, c.i.f. basis, England price!
tyre prices
BR
19
London. RITISH tyre manufac-
by
Mr
porarily earn a fair return from "While our trampe may tem-
[ime to time, their future in the matter of replacement, appears Jem bright, unless national polity and the private enterprise' thesa ships represtat are able to ar- Įrive at some formula to assure a continuing existence for such shipping."—UPI.
turers are "holding the Pre-flight search
war-built tonnago had beenL sold Lor breaking up, in 1950, the first year that war-bullination up to ransom
done
hai komato breakers' „yards.
There
bo
PRE-1945 TONNAGE
the thair prices, Mr Richard of planes seen
[ Lamb, Chairman of the Tyres Committee of the Free Trodo
was still about 43 Union a body campaigning million tons groes of pre-1946 For
forange eflast although a high proportion was
Washington, Jan. 20.
BILL which would ro-
the removal of dis-A quiro airlines to make
rostrictions
laid up and, criminatory was likely to remain so unless sold here recontly.
sumolent improve-
Chere was
pre-flight searches of "lug-
The Union is to apply to the Sago and cargo for bombs ment in freight rate to make Board of Trade next month for and other destructive items the removal of the 30 per cent was introduced in the U.S. their operation economic.
It was estimated that at the import duty on tyres. end of 1950 about 20 million tona)
Mr Lamb sald the very heavy House of Representatives to The measure would requiro of new slupa had been on the duty bereits only the 12 tyre day.
articles of all builders order books worldwide manufacturers in the United compared with 33 million tom Kingdom at the expense of the examination
except mall taken aboard coin- In 1987. Should the present rest of the nation,
passenger aircraft. over-charging merien
planos trend of world iradé develop "They
and cargo ment conilnius, this re might motorists and eyellets anal hold Private
carriers would be exempt. well Increase. This figure of 25 ing the nation up to ransom."
It would not necessarily ro- Tyre manufacturers had tuin- million tons would appear to be, spread over three years for de- ed a completely deat car to quire that passengers open 411 Hívery dates,
repented: requests to the Chan Juggoge because X-ray equip
to mont may provide adequate color of the Exchequer reduce their prices, he said. Only yesterday") Uncy though tals was noi yut of major | simultaneously but, up 2. Importance
exuminallons
American Contract March/April May/June
Feb.
21.00
Jan Merch
23,90
| April/June
22.80
July/Sept.
Del/Nov,
on./Dec.
1.00
**
1401
Dec/Jam
4
20-days
2.0004
Match/Apri
porta:
Mr Hopwood noted that there had recently been an improve 1600 ment in the freight market el-
May/June July/Aug.
Feb; Mar
*
hod their
Now Zamband
Senate Inveiligators Hava sud- Kosted third bomitiliga may have been involved in the recent 150-
Okt. Nov.
Houth Africa
like t
興
ium
*
Kritvery unchanged, --ŰPİ,
WEELINKHOUSu dig brake rea Weilers Union Tal Co... West Va. Pulp & Paber WinDIKI, Blares Pare
Zosits judío
and appeared to uniform prices by two and a some extent to be seasonalia half per ogat, he addei fruction, of two UB: clinic #china-Mall Special,
Reuter
with a low of 70 Uvesind,
No comments yet.
Private notes are available after approval.