1960-02-23 — Page 2

Fagt 2

THE CHINA MAIL TUESDAY, FEBRUARY 23, 1000.

U.S. INFLUENCE ON LONDON TRANSPORTATION

U.S. markets Exchanges too HONGKONG London Market

closed

Yesterday was

public

holiday

in

Amories in calobration of Washington's birth- day. Financial and commodity markets wein closed.

Germany's

bid to stop

inflation

optimistic at

the new year

London, Feb. 22.

STOCK EXCHANGE

Our Own Correspondent -

Businces done at the Hong kong Stock Exchange this morni

$838,000.

ing amounted to approximately the morning's transactions:

Noon quotations and

Shared Buyere Sellers

DANFOS

The London Stock Exchange has come heavily under the influence of the Governor of the Bank of England's warnings, Wall Street's break, tepid Budget expectations in the light of Brake 1200 1500 inflationary rail and other wage Lombard demands and of the Government's Waterina costly aid to some sections of industry, and prospects of new capital issues.

It is a formidable catalogue, But It might be more superficial than I looks. All stock ex- changes were too optimistic at and may rince should the New Year

her have had little more than a cor-

rection

and of extremes

a

London, Feb. 22. The Financial Times today

anid Germany further liberalise trade and relax restrictechnical adjustment of yields.

of tiona

Imporis

The American business pros- agricultural goods to fight pect is not as strong as was, but as that was 100 strong it Infintion.

may now be strong enough,

no

on

'In

editorial discussing Germany's financial problems the newspaper said it is not a question of whether the authorities should be fighting

but whether Inflation,

they were using the right weapons,

Last year Germany's reseRVER fell, although she earned massive amplus on current ar- count, because capital exporis were on a large scale. But, the editorial said. If the present policy is continued such an out- come can hardly be expected in 1950-UP

Exchange rates

Bustrie

kino/Ezial numing at the following rates:

US, dolara (per $1)

we done in the local exchange market

this

B.77

Sterilba nolca (per £15 .... Australien inotes iper £13

15

Indonjatan' rupiah (per 100) Slam tita (per 100)

Singapore (Brit)

Optimistic

One leading New York bank. Morgen Guaranty, is remaritably optimistic about the business prospect, but gloomy about in- flationary pressures.

The OEEC reports that Britain is doing fine, that as sho needs a rivival of private Investincnt, she has no need of restrictive measures for some months, and that when they do come they will not do much good because experience shows that deflation- ary measures on their own do not prevent wages from rising too much.

This year, the OEEC has dropped the preface which im- plied that

the officials. of the

its

With the doller constantly on floor in Frankfurt, the Bundesbank must

be gaining dollars frequently.

Impressed by Wall Street's break and the defensive

tum

INSURANCES Uniors

SHIPPING Wheelock ..

DOCKA, EXC

K. Wharf ..

Bales

D

BO @ 1300

809735

helped by brighter news

London, Feb. 22.

Good company news and bright dividend prospects gave the stock market a firm but quiet tone today.

Britain's shipyards putting out more new liners

LOYDS Register figures of world shipbuilding

Lin 1959, Issued towards the end of January,

1960, showed that United Kingdom shipyards regained second place in world launchings in terms of tonnage launched, with 1,370,000 gross tons.

However, the factor of most mediation, and the all-aluminium importance to the United King- superstructure.

Looking towards the future is dom yarda Ik its leading position. as the builder of more complex the question of replacements for ships, capocially targe passenger the two largest liners In the Buyera were for the most Routes Ltd. "A"~~~~10% ́

Standard Trumph International-liners. Out of the twelve liner work, the Queen Mary, and the part cautious, apparently: walt- | 1" Td."

of more than 16,000-gross tons Queen Elizabeth. The Cunard ing to 600 tomorrow's Wall

under construction in the world. Line has put forward to the 300 78.30 Sireol trend,

but aggressĪVO-

.Government South African Brewwice-D 1348. {eight are being built in Britain; United Kingdom South African buying caused 'a

and in contrast to the remain= | proposals for building two ships sharp recovery in gold shares. Associated Portland Cement-120ing four, none of the eight is eventually to replace the

Electricals, engineering

alded in any way by Government | “Queens.” equities and steels shared in a

subsidies, being wholly financed The chairman of the company gentral upward Industrial

hopes that it will be possible to by private capital. movement along with broweries, stores and some textlica.

16.00

200 000

Dock ****

Provident

04!$

11:30

તા

Talkco Dock LAND, ETC.

བྷྱཿ ཞཨྠ ོ ༤༨

11.K. Hotel,35% 3314

in American business sentiment... Land. the Federal Reserve is said to be gelung less restrictive

an enlargement of to favour

and

the American money supply this year.

Humphreys

raty RUBLED

Amalg

In the past twelve months the supply has held virtually unchanged, which may well have been what broke Wall Street's Tast

500 m 3514

48 43%

500

1000 + $8.25

11348

200 €

100 494

23.20 1000 * 22.80 1.03 1.079 10000 ir 1,875

• 4.00 5000 45 1000 @ 4.80 1000 4.30

74

33 234

250

331

100 33

Peak Tram

(N) Star

Perry Yautnati

200

30

153 154

145 144

200 144

100 14%

300144

boom.

UTILITIES The New York Fed reported | Tram

expectations that inflationary did not materialise in January. Some New Yorkers think the discount rate may still have to be raised to curb the external dendt, even if internal con- ditions require cheaper money. of the Senator Douglas, one very few qualined economists

Electric 20.10 20.30 la Congress, says he is fed up with foreign Governments Electric (N) 245

Macao E. solicitous about the Telephone bcing so collar.

INDUSTRUALS Cement..

STORES, ETC. Dalry

100 (144 C. Light 19.30 20 1500 20

Morgan Guaranty Trust, on the contrary, holds that gold country concerted accept the continues to perform its his- Andings. But the Bank of Eng-toric disciplinary function, land Governor did accept the need for more investment.

Thanks to the rail settlement, sterling abrugged off the higher American bill rate which still more attractive 122 leaves London

international money. The 1.70 for 28.18 | Bank of England coined dollars

1.11 on February 15.

So markets have been pessi- mistic. In different. lechevizal

ali conditions

markets, hot least gold shares, might well have been bullish, reflecting un- sound inflationary pressures to reinforce the pound growth ex- | poctations which, stlli exis. -

China Mall Special,

800 10.00 200 14 20

6500 10,00 500 20.20 201400 € 24.00

កុហ៊ុន ...

100 24 5003434

100 6 44%

1000 @ 442%

11.20 34

4421

24 24.30

25 1 04.30

Watson, XD 241% Laha. Craw COTTONS Textile

200 24.20 1700

24.40

31

0.70 0.3 1000 s 0.70 18.40 15.60

Nanyang MISCELLANEOUS Vibro INVESTMENTS

17.20

Allied

6.00 0% IH. & YE.

INVEEL... 14

500 & 17

Loaders such as Imperial Chemical, Electrical and Müsten) Inchstries, British Oxygen mad British Unilever alt Improved | but bank and' insurance shares were dull.

Gilt-edged securities were out of favour and took losses ol about 54

mony places, Foreign bonds were mostly idle and dollar stocks mixed, with

most steels and

cils

up bul motors easier.

In metals, falling prices and high stocks pushed coppers back but platinums flamed. Õils ended: mostly better and rubbers and teas were steady.-UPI.

Closing prices

Giltedged Bonds Betish Transport 3%. 06-3/10.

Console 215%-EU- Cons--27liis.

'Browerler'

Dietliters Conde 1120,

EULding and materials

Goodland Wall & Lood Ordmaße, Finchin Jahnaon Associates Ord din 412.

Cu, Steel and Engineering Babcock & Wilcox L4d-441, United Strelentin 90.

Vickers Li0-355 2150

Food and Tobaero

In November, 1959, the largest lay the keel of the first by the Miner to be launched from a end of 1000, and the shipyard British shipyard since the Queen chosen is expected to be John was named Brown's, at Clydeside, where the at the Vickers-Armstrong's yard present "Queers.".

It was at Barrow-in-Furness,

British Americon Tob. Co., Ltd- Elizabeth in 1939, 70s. -Imperial Tobecoo Co., ja im.

Miscellaneous Hoorduan Marden Låd-ts T10. Bride Dayzen “Lad, Or$-60%, Canecian Pacific Rim 224 Ed.

De La Rue Co. Ltd.

Dunlop Bubber. Co–the Sch Hongkong & Chine

zija. Imperial Chemical Gas-lat. Lyons & Co--756 od.. Unleyer Ltd-150 105d

Paper Dowater Paper Corp Ord-22 d.

Radio and Klectrical Associated Electricni--008. Electrics & Musical 50# 10lid. English Electric Co-47 axd. General Electric 40 xd,

Bhippings

Indo-China ord-20% 34.

Steam Nav, Co, del P&O Stema Naviation del ord

Great

Stores

Universal Stores "A"-50% 1018/50~1ks & Spencer Lig-716

Conversion Loen 16% 1800- 20414.

Funding Loun 3%. 1930/03- £00%. Funding Stock 31% 100/2004

£7034

Funding

Loan

100000

£03-1/10.

10.

Savings 37, 1933/93-CKÝ. Savings 3%, 1900/70-20.

Savings. 190/75-70%.

Banda

Barclay's Bank "A" Ltd ord-503

Chartered Banks24. Hongrong-066X.

Insurance

Union Insurance Canton-20%.

Aircraft and Motors

Britis Motor Corp. Ord-20 714.

Ford Motor Co-102% 1956,

ག་

Woolworth, W. & Co-a 34.

"Fest 9. Coats J&P

Courtaulds Lid—pa och

Mines

Cons Gonakis or South Africa— Bu d

Cons. Zing Corp: Ond-ar td. De Beers dež–124a 60,

Hongkong TID 10.

Pete 24-

dd.

the 40,000 cross tons Orlane,

built for the Orient Line, in Another Caravelle

which the Peninsular

and

Oriental Line are the principal jet for SAS

shareholders, to be used mainly

on

the

United Kingdom-CANDINAVIAN Airlines Australla run it also on System announced to- vlcer across the Pacife. With a

service speed of 27% knots, the day the purchase of an the sailing additional Caravello jet air- Oriana will reduce time from London to Sydneyfiner for delivery in Soptom- from four to three weeks. It hae

several outstanding fea-ber, 1960. tures, notably the system of transverse propulsion enabling to manoeuvre, freely in confined waters, and the largest al | welded superstructure ever bulit

into a ehip:

THE CANBERRA

The additional Jet will bring the number Caravelles deli- vered or on order by SAS to 17. SAS will lease four Caravelles to Swissair under a co-operation agrement with that company, |while Swissair, under the same agreement, will lease some DC- s to SAS.

On March 30, however, Deme Pattle Menzies, wife of the

The SAS Caravelle network Prime Minister of Australia, la to name an even langer line, the will be linked with the airline's 46,000 gross tons Canberra, to be North Atlantic and Polar System launched at Harland and WOLT's DC-8 services in one of the famous yards at Belfast, the world's biggest pure-jet systema In the SAS summer trafic pro- capital of Northern Ireland. Costing more than £15,000,000, gramme, effective April 1st, the of the Caravelle she is scheduled to make, her expansion maiden voyage carly in 1961 pure-jet network will grow to on the P. and O. Line's Aus- include 35 vitles In 23 countries Petroleum Syndi tralian run as sister ship to the in Europe and the Middle East, The SAS Caraveller havo BS Co Ltd-04 Oriana. Among her unusual fea-

tures are the turbo-electric pro-cumulated 8,000 hours t

machinery which is air, and has enrried : close pulsion Transport & Trading-1464 placed aft leaving the mid- 80,000 passengers during the

Southern Rints Cole Lt-2 Union Corp} 41j9

West Deletontrin Gökimming-late

30

British Born.co Cateǝd...

Brits: Petrolnem

Burmab-Te·32.

Chell

Hawker Siddeley Group Ord—301 | 3d, 1140,

the

10

----Beuter.

section fee for passenger accom- Arst eight months of operation..

NEW SERVICE COMMENCES APRIL 1st*

Osaka/Kyoto en route to Tokyo

Now 4 flights weekly to Tokyo... 2 DC-6B flights via Osaka/Kyoto plus 2 non-stop prop-jet flights

TWO DC-88 FLIGHTS VIA TAIPEI, OSAKA/KYOTO

This service has been specifically introduced for:—

1. Tourists withing to vidi Oraka, Kyoto & Kobe en-route to Tokyo.

2. Businesmen going to Osaka who wish to avoid the Inconvenience

of travelling to Tokyo and then returning to Osaka. This was necessary prior to the inception of this service.

3. Businessmen and tourists viriting Tolwan.

All flights are by DC-6B aircraft which are fully pressurised air- conditioned and radar quipped. Japanese and Chinese cabin staff give passengers the ultimate in care and personal attention.

:

TWO 400m.p.h. PROP-JETS NON-STOP TO TOKYO Cathay Pacific has integrated flight schedules to provide not one but two flights every week to Tokyo by fully pressurised, air- conditioned and radar equipped Lockheed Electras. Flying time by the fastest prop-jets in the world, is exactly five hours, in flight each pastanger receives the utmost personal attention from Cathay Pacific's Japanese and Chinese cabin staff.

* Initial DC-68 flight Hong Kong to Osaka, April:fit.

Hong Kong non-stop to Tokyo April 2nd, subject to Government Approval.

cathay pacific

AIRWAYS LIMITED

Bobking Ofites: 19 Chatir Rasy, Hong Kong, Panimula Hotel, Kowloon. Passangere: 26446, 62407. Pruighet 32222, 6400, med major tourist ageličiés.

BE SPECIFIC FLY

KYOTO

TOKYG

NON-STOR ELECTRA FLIGHTS

DOUGLAS DC40 FLIGHTS

MONDAY

DC-68 departs 9 a.m. for Tokyo

via Taipei and Osaka

WEDNESDAY

400 m.ph. Prop-Jet Electra departs 2 p.m. for Tokyo non-stop

FRIDAY

DC-6B departs 9 a.m.

for Tokyo

via Taipei and Osaka

SATURDAY

400 m.p.l. Prop-Jet Electra departs 3.15 p.. for Tokyo non-stop