1960-03-02 — Page 2

THE CHINA MAIL, WEI NESDAY, MARCH 2, 1000.

EUROPE'S TRADING BLOCS

Britain stands HONGKONG Wall Street

STOCK EXCHANGE

Hay

London

closes

high among

lower

the 'big' boys

London, Mar. 1.

How big are the "chances presented

morning amounted to approxim

to

British exporters by the setting up the Outer Sevan trading group European countries?

of

closing prices:

of

London, Mar. 1. Prices edged lower today under the cloud of fresh falls in gilt-edged. Buyers kept out despite the cheer from January's record In- dustrial production, Industrial shares falls were widespread but not heavy.

In

Imperial Chemical Industries were he explion and rose slightly on prospects of excel- lent results due in a few weeks

Banks were brileved among Fellers today when government bands dipped further. Foreign bands showed to life.

Dollar stocks moved down- side pucert by U.S. sice 24 points off.

at Golds went

first lower

Influence under South African but steadied in lute dealings. closed Coppers see-sawed but dull. American buying pushed St John Del Rey sharply up by shillings to 101 shillings. Olls moved narrowly to end itle changed.

Rubbers improved where changed but tens went lower. UPI.

Closing prices

Glitedged Bond Dell Transport 3%, £47.

Consuls 25%£$? xa Consola ALDI.

1970/00***

Our Own Correspondgat

Business done at the Hong-

rang Stock Exchange

this

ately $2,002,000. The morning's

Shares Buyers Sellers

HANKS

II.K. Bank

INSURANCES £110 Union whose yearly sales are allten. And stil further in Lontard front of Belgium's Petroflag with suHIPPING "take" of £145 Verboat

Wheelock

worth the This is a subject closest study by the lively men whose job is selling United King- dom goods overseas. By investors and too, should be carefully con- sidered.

Denmark, Austria. Britain. Norway, Portugal. Sweden and Switzerland are members of this new trading "club".

It is their reply to the Com- mon Market created by Bei- Luxem- glum, Italy, Germany, bourg, France and Holland.

New tariff

new

...

inillion.

In chroustenla ICI 1 £400 million) dwarfs F. Dayer of Germany (£170 million).

In food etc. Unilevers eales of €1,250 million are three times the size of Nestics.

20170

20 w 1270

1260 1280

110 101

400 101

1515

2814

0.00

4.00 2000 (.00

registers a

The Channel tunnel

scheme:

recent

further drop investigations made

New York, Mar. 1.

The Stock Market declined again today. Trading

was slow.

The market was barely high- er at the outset in active trad-

10350 67 25. It turned mixed after the hour and declined in 2000 or 9.85 Arst 1000 4.53

prices were | afternoon trading:

round their lowest of the day at the close,

Most lower ranged

from

500 19.80 few cents to around on dollar Icber 10.00 200 201

DOCKS, ETC. Duck

10

TI

50318%

500 or 70

200 7819

49070

Irovident

10.00 19.90

in cors British Motor Whic

Taikoo Docke selling £265

44 Corporation

big leadi million a year hug a

LAND, ETC. £230.K. Volkswagen's

Hotel 301

45

3714

900 36.20

500 0 30.60

1000 20,75

Over million.

Dunlop is pre- Similarly

H.K. Land #1; dominant in tyres: Courtaulds in Humphreys

Turner and Realty manmade Abres; Newall in asbestos.

RUBBER Amalg Only in electrical engineering and steel among the major in- dustries do continental giants march ahead of Britain. Phillips Java Consol,

and the of Holland

a share Agalm, some of the

British Columbia Elec.

British Columbia Pwr. Cana. Bk. of Comin, CRL. Tractor .... Celanese Corp.

CIT. Financial Corp. Chase Manhat. Bank Clueti esbody...... Colgate-Palmalive Co. Commercial Credit. Consolidated Paper Consumers des Continental 011 of Dei. Crane Co.

a

Ca

500 10.00 electronics and selected Issues 1004434 rome against the trend and 100 44% ed porte good gains.

500 6 36.75

400 0311⁄2

400

23

$3

***

23 23.20 1.075 1.70 10000 1.70

---

5.20

81% $7000

0.20

10000 @ 5

XD Trzak,

7.40

BBC

920 2431 DOD

4142 $4.900

300 A 34

ita

110 151

the

tariff This year

the arrangements between Outer Seven should make the between cuts possible price themselves of from 11⁄2 pence to

pence in the pound. Later when the plan is fully the goods selling in working this trading ren from the ix Common Market countries will "loaded" to the in effect be Lextent of 4 shillings or so in Kruppa network of Germany are UTILITIES

the pound.

the biggest boys" in these two Traes...

Star Ferry XD slock-spheres. But the overall balance at of A leading firm

of advantage is well in Britain's brokers makes ese points in

Cavour. And in these modern an exhaustive study of the cp-

times the size counts for portunities stemming from this game of Sixes versus Sevens.

The Common Market etur- tries it calculates are now sell- £1,000 milion Ing more than

Conversion Loan 3155, 1000 worth of goods each year to

404.

G

Fusing Loan 3% 1939/60–£#3}4. Funding Swex 34%, 1/2004-

Co.

Funding Lean_4%%, 1980/20–£91],. Savings 35%, 1955/63–291,

Baving J, 1900/3)-BOIL... Bavings 32, 1990/75—127438- Barclay's Bank Lid ord-450

Bank

Bark-070 Pc.

Chorlere Jongkong-EUiA, Ioyds Bank “A”~~633 64.

Inniranite Union Insurance Canton-6-7/10.

Aircraft and Motors

Motor Corp. Ord-201 41}, Ford Motor Co-SUN 751. Stawker Siddeley Group Ord-32 "Hootes Lad "A"~100.

Standard Triumph International

120 34.

Breweries

Dieters Coy 10/bet, South African Brewerico-20g Pd.

Buliding and Materiais Associated Portland

7.

Cement-34

those in the Outer Seven.

A major share of that busi- handsome ness would be o audition to Britain's overseas trade.

Who will benefit

So which companies stand to benet most? Here are some Ideas on those best placed for the new free-for-all.

Inmperial Chemicals. Europe

famous

3334

Jot,

C. Light..

21.30 2115

An encouraging pointer for the growing rivalry in European trude-London Express Service.

NY sugar market

New York, Mat. 1. World No. 4 Bugar futures today 10 four closed unchanged points higher with sales of 78 contracts.

Domestic No. 8 sugar closed

is already ICT's biggest singie market overseas accounting for £23,400,000 out of exporta totalling £74 million. A highly one lower to two points higher

of 23 with sales of 90 contructs. organised sales setup units

the company's serves customers there,

floover. In addition to manu-

facturing interesis in France and Wall & Lead Ord-47s Farland, the company has a Finelya Joknum Associates Ord-higherent sales organisa- tion throughout Europe, Competi- Coal. Hterl and Engineering Babcock & Wilcox Ltd- $25 4.tion will be keen. But big pro-

deleted.

United Steel-15x 7144.

Vickers Ltd--349 7550.

Food and Tobacco British American Tob. Co., Ltd-

07 Dd.

ed.

Imperial Tobacco Co..

Miscellaneous

LACTI

105.

Boardman Marden Lii- British Oxygen Lid. Ord--10 64. Canadian Pacie Bly-4434

De La Rue Co. Ltd. Ord-7is Gd.

Flubber Com248.7130.

Ekong

duction runs abould be a con- alusive factor in prices and sales.

Tube Investments. A solcs drive Europe last year brought increased trade to the group.

T

Although dull, the world mar- kel was steadier in company with the raw market Belgium was reported in the market for around 0,500 tons for March- April abipment.

Traders also noted reports of cyclone domage on

the Meurilius off the east coast of South Africa, a principal souTTE of sugar for the British Com- monwealth,

Final evening-up

In

the

Quest Heen. A good European March delivery featured emali business alrendy. An export dealings in the domesite con-

tract/PL Chino Gas.

Imperial Chestleal-Die 435. Lyon & Comfo

Unilever id-138 d.

Paper

Bowater Paper Corp Orl-72r Oct.

Radio and Electrical

Associated Electrical-656. Electrical & Musical-34 7. Englian Electric Ch 42. General Electric 39s.

OTT-2005

Shipping

| committee will see that it is not

unprepared.

It-

B. M. C. Already actively plamming to assemble cars in Holland and Belgium where it is finally hoped to build starlard miodels. In Italy trocenti in tuming out A40s and A55s, Success in this sugICSUS det that these arrangements will be

extended to other models.

Indo-China Bleam Nav. So,

40 Steam Navigation det ord

Kiores Great Universal Stores "A"-47 4Bd.

Marks & Spencer Ltd 69 0. Walworth F. W. & Co-035.

Textiles

Coals J. & P. Lid-34s 6d. Courtaulda Zel 1014.

Mines

Cena Galtfields of South Arrica→

$4 d.

Cann Elve Cory, Ord-720.

De Beers def-ike 10%.

HongKook The 1

Petaling "Tin=-70 54.

Mende

Bouthern Hinta Coma Lid-20: Bá. Union Corp—24a 1354. West Dristurvela

Goldmini

-Reuter,

Rubber market

Fisona This big fertiliser concern has been showing con- siderable dynamism is liis search for diversity. It is likely to selze any good opportunity to acquire a local manufacturing outlet.

Duel footing

In their planning you will see

these great enterprises are tak-

ing in both trading blocs.

+

Yesterday's Closing

5

2000 $40 5000 er 7.40

200 Ur 151 107150

KO 159

200 150

VOLUME

Crown. Zellerbach

post-Dominion Stores

Diamond Ali=1}

Motors rallied 1ste in the Bession, but other segments of the market failed to follow sult.

Steels, petroleum, ralis ana nonferrous metals declined,

Of 1,198 issues traded, 528 declined, 420 advanced and 248 were unchanged.

Voluma totaled 2.920,000 shares compared with 2,890,000 shares traded on Monday,

The maiers were helped by 1000 11.40 several reports of good produc- 4000 or 2.40 tion last

$600 or 21,40

240

Electric (N) 25.50

20

Telephone

32 314

INDUSTRIALS. cement .... 431%

+4

STORES, ETC, Dairy 24.20 24.33

Lane, Cruw.

Watson!

COTTONS

Text

Nanyang

0.85

18.40

MISCELLANEOUS Vibru ..... INVESTMENTS Alled E. H.K. Ce

Invest.

month.

Dow Chemical

El Pano Natural Gas Family Pinence Corp. FITE NE, City Bank Ford Motor Co. of Cana For Motor

Gatineau Power

Georgia Pocine

General Dynamics Gen, Tra Ti Gen. Tyre & Rubber Glidden Co.

Grumman Airerati GUM QU

Hammond Onta

Heyden Newport Corp. Hiram Walker Idaho Power Imperial Oil

Imperial Tobacco Inland Steel Co Interchenleal Corp. International Paper Hom C. Praver Be Light Kimberly Clark

Liggell & Mr Tob, Co. American y Tulp

Lition Ind.

First Suggested In 1802: Model Of Later Plan Shown In Paris In 1867; Channel Tunnel Company Formed In England: Recent Technical

Earlier French Investigationa!

Survey Confirmed In 1968: Probable Route Is Expected To Follow 1876 Plan: Electric Trains Will He Most Likely Form Of Transport,

A report is due to be made available within the hext few weeks that will be of cardinal importance in arriving at a decision on whether to go ahead with the scheme to build a tunnel under the English Channel.

It is belize drawn up jointly, Eastern Railway Company, and 44% by the Economist Intelligence the works were later taken over 899% Unit tho Societe d'udes and paid for by the Channel Techniques el Economiques, of Tunnel Company. However, the 14 Foris, and Louro Cather and strength of the milftery, objez- Company of Chicago, on behalf tions in Britain against the 70% of the International Study scheme brought progress to П

4Group,

halt in 1882, and although the project WDS subsequently The partners in this group, broached in the House of Com which was set up in 1957, are mons on several occasion, it the Suez Finance Company found insufficient support.

33

70

formerly the Suez Canal

Com

50 pany-(30 per cent); an English The topic came to the fore firm, the Channel Tunnel Com-again in the 1920s and in 1929

(30 per cent); 1 pany Ltd,

the Government set up a Chan- French consortium in which the rel Tunnel Committee. It pr French Stale Railways have the duced a report on the whole major interest (30 per cent); favourable to the scheme, but a

United States firm, Technical Studies Inc (10 per ed in the House of Commons in proposal to co ahead was defeat- The British Transport the following year by une votes.

40% and a

seven

The NEW INVESTIGATIONS

the

chairman of the study group is Sir Ivone Kirkpatrick, fumer United Kingdom Per manent Under-Secretary of State for Foreign Affairs.

113

213%

09

cent).

B4

22

10%

about Commission holds 60% quarter of the alibres of the Channel Tunnel Company.

Saint Brewery Monsanto Chemical Co. Motorola Inc.

13

4516

Nations Bout Co.

Detry Prod National Steel Corp. Noranda Mines Líd

Oun Mathieson Owen-illind

Norfolk & Western Ry Northwest Airlines (Com.)

.. Glass

99K

451

101

Parke Davis Co

20

2006 Motors reported record output of

Ramblers while | Sowerutem & Bam 21.15 its compact

BicDermott J Ray Ford said February production Minnesota Mining 2000 was its best for the month in After the market many years. closed, General Motors reported its February output was the 31,75 9160 best on record for the month.

4.73

Twelve of the 15 tnost active 63.23 stocks advanced and three de-

ellned.

Dow-Jones closing overages Pens. Set Co.

250 or $31

Kon 43

500 12

were:

1500 24.20 2403 41 24.23

30. Industrials

Rails

23.00 3411

15 Vies

40 Bonds

1.90 2003 D.RS

2006 15.00 2000 or 10.00

Stock

Comm. future price index

-AP and

Closing prices

Abitibi Pwr. & Faper

Alden Inc. Aty:

UT 17.00

7.00

Alguma Steel Corp.

10.70 2000 1.00

Am. Brake Blaze

***

£6,00

Exchange rates

Allied Mills Inc.

American Allfine

Am. Cobie à Radio, Carp

Anericum Cyanamid Co.

Amer. & Forgn. Power

Am. Hemo Prud

Am. Mach. & Fúry.

Arn. Natural Qas Am. Sugar Hef.

Arnico Steel

Asbestos Corp.

tr

Atlas Conn. Mining

Bank of Montreal

0.71

15.05

Bank of Nova Scotia Beech Le Savers

Business was done in the local unsTicial

market exchange morning at the following ste US. dollars (per $1), sterling notes (per £1) Australian hales (per £11 Indonesian rupiah (per 100) Siam ticals (per 100) Singapore (Stralis)

12.5 Benguet Cons

1.80 Border (The) Co,

20,27 Burroughs Add Machine

1.01 Balls Amer.

1

COMMODITY PRICES

METALS

NEW YORK

Closing prices, all in conta

So they will have a footing in per ib.: cach

should two camp

Lead eventually

togother to come form one big trading area.

Britain's big bosses are much too modicet. They should puff out their chests a bit more and bang

the big drum more loudly.

Mar

May

Zind

MAT.

May

Copper Mar

May

LONDON

Tin

11.10

11.00

11.05

11.50

01.77-80

29.55-55

Buytre Sallora

789 V

780

739

264

203

Closing prices, all in sterling How many investors realise per long lon,

much how!

bigret many of Britain's leading enterprises are

Spat than their Continental rivals? ·

3-monthi Copper Very few must know that In

3-molith most folds British firms tower Desplie slightly better overseas over their European competitors. Lend ist half Mar.

advices tita market iscked

Singapore,

Mar. 1.

ני.

I have been looking at some]· support and prices aged in of the ngures today, based on the solés figures both actual and. estimated,

in light dealinigi:

Lower sheets were neglected while thetories were not buying

on this market.

The afternoon

nelive

Was STOTU

than the morning with federation selling fair, quantities of nearby rubber.

narrowed

Match and April again to almost even money.

In London, the rubber market was caster with spot quoted at *34% pence,

Higher 'take'

In oil for example Shell and Royal Dutch partnership turns the trading scale at a monster £1,950 million.

Bp01

Zine 1 hair Mar.

June

Juh

COTTON

*

LIVERPOOL

Closing prices all in pence per 1b.:

LONDON

Phip MarT

Ffony Bow

476.07 Pittsburgh Plate Class

100.01 Publier Inkkuairles

01.33Pure Dil

207.20 from

£2,16 Reynolds Metal

13.30 Royal Bank of Canada UPI. Saint Reg. Paper

Scott Paper

Southern Natural Gas

| Sleef Co. of Canada

35% Sleep Rock .................

Sterling Drag_Co.

EARLIER PLANS

0

In 1958, a geophysical survey

Technical investigations were carried out in 1989 and in 1959 by George Wimpey and Com- pany Ltd. Borcholes were drill- ed from a floating craft. at.

10 ascertain various points Schemes for building a tunnel whether the chalk was thick under the English Channel can enough to ensure sufe tunnelling. be traced back to 100%, when one of Napoleon's engineer M. Mathieu, put forward a ten- was made by a United Statos. 27dative plan. More than 50 years firm using electronic equipment later another French engineer, for seismic and sonar, investiga- Thome de Gamond produced a tions, and the results showed practical scheme, and by 1887 he astonishing agreement with a had worked out a comprehensive French tvey made in 1879. earlier project, a model of which was on Major work on the, display at the Great Exhibition schemes for a Chancel tunnel held in Paris that year. In the ceased about 80 years ago after same year a Channel Tunnel shafts and pilot tunnels boil short distance Company was formed in Britain, been driven a to be followed four years later under the sea on both French by a similar French company. and British sidės,

1016

31

પા

South Puerto Rico Bugar

18

30

12

153

BOT

34

34% Stokowy-Yon Camp.

30

Stone & Webater

DO

Tide Watre On

122% United Fruit

2116 Trader Finance

Closing per lb.: No. 1 Ra spat .. 34-3414

Seitioment house term: March

prices all in pence

3311-33

Twentieth Century Fox Film

U.B. Fal "B"

In 1879 a joint Anglo-French The French tunnel, seven feet Parliamentary Commission was in diameter dha submerged sinte 2016 set up to consider the basis for 1883, has been pumped out and 3019 a treaty covering the scheme. Is reported to be in good condi- PI. In England the sinding of a shaft | ilon. The 2,000 yards of tunnel- and the boring of a pilot tunneling on the British side is, how- to a distance of about 2,000 yards (ever, full of water. were undertaken by the South

Du Pont cuts

price of synthetics

Boat inaugurates Transatlantic service

Toronto, Mar, 1.

If the tunnel is built, it is expected to follow the previously projected route. It would be about 86 miles th length ---- of which 22 would be under the sea and thus be the longest tunnel In the world. On the English side, traffe would enter the tunnel near Folkestone, and on the French side sbouf, midway BRITISH Overtoas Ali- between Calais and Boulogne, It appears, generally asztimed ways Comot jettier that it would take the form of {landed here tonight to is a two-way railway tunnel, and Du Pont Company cut the augurate the first Trans- the chairman of the Channel Tunnel Company said in London price of one denier of its atlantic jet service between in, 1969 that a road tunnel would dacron staple fibre by the Queen City and Europe. not be technically feasib more than seven percent The Comet touched down at

New York, Mar. 1.

A

In a move that represents Malton Airport at 8 pm. sfter

a sharp departure from a flight from London with a usual patterns of pricing stopover at Montreal. synthetic fibres.

nt

this state because of ventilation and other problems.

ESTIMATED COST

The récition committee at More than 300,000 éurs crossed the airport was headed by Sir the Channel Inst year by sea and, Du Pont lowered the price | Saville Garner, United King-air, and every year the present ón 15 denier type, 54 daczon, dom High Commissioner to services are fully booked several effective with March shipments Canada. by 10 cents a pound to $1.20 à ait-pound, General marketa, ej.t. basis, ports: March

April/June

Américan Contract

July/Sept,

Oct./Dec.

March/April

21.00

Jan./star.

Alý/June

July/Aug.

245

21,80 21.00

April

May

2105

Oct/Nov

Mar/Apri

Mixed Contract

March/April

May/June July/Aug Oct/Nov. Dec/Jath

Mar/April

RUBBER

NEW YORK

ORBSER

Rex rubber futured closing prices, all in comis per 1,

March: 40.70; May: 20.bs: July: 40; Dept: 39.10; Nov: 35; Jan; 33: MAT: 201

SINGAPORE

NEW YORK

Closing prices nił in,Straits conta, per 5. Lob. Mayor Condik prfees all in eente per počtá;"

If you think that in a bit un- fair because of the 80 per cent; Dutch interest la the group then | Hk; look at Betish Petroleum. It

Metal (motches up sales of £600 millon is year. This is way ahead of

In Amsterdam, the market Europe next biggeet Com-

Was dull.---UPI.

pelgule Frenculse des Patroles -----

Spot

2323

No: 1 Bike. Apr.

- No. & Mr. No.MAT.

No. 4 Mat

hpat tutishi unbated ».

No. 1 pale drape

3-331

Estato cropo thin April 30

thick April 30}} AMSTERDAM

Closing prices all in guiders

per kilogram, cit. Mar.

No. 1 rubber |

No, a rubber No. 3 rubisex No. 1: crepe

320 buyers

3.27 hugers

.

months ahead for crossings at the peak holiday seasoti, Fakt, Boac Chairman, Bir Gerard electrically-driven trains run- D'Erlanger, one of 35 paasen- Ining at frequent intervals and The three denler yara will gera sboard the fight, said the currying a large number of cort remain at $1.36 pound, Du Pont inaugural service coincided are considered, therefore likely related the price move to the with the start of a new agree to provide the bulk of the re- opening this spring of the first nient between his airline and venue from the tunnel. unit of a new dacron plant et | Trans-Canada Airlines.—UPI.

Old Hickory, Tennessee

Initial

production at the plant, mald

Du Post, will be almost exclu-

sively 15 denier dacron staple. Missing vessel

The fact that we can, con-

3.26 buyers centrate on producing 1,6 denier declared lost

3.37 buyer dacron staple plus the now

UPI.

techmology available in the new plant, enables us to break the traditional pattern of

FOREIGN EXCHANCE

NEW YORK Closing rates; Canada

Other unchanged

LONDON Closing, rates: Now York 13218411236 Monirrad 12012-1165 Copertungen 1153–11815 || PATIE

*14|4 | Brockheim

Kürten

pricing it sell this Ager denier

producí balow the price of its heavier denter counterparts, the bulbabÿ säld.

Ton Chinese freighter

THE s.s. Yuang An, a 500 required

Estimates of the total cost of the scheme have varied from £100,000,000 to £130,000,000. If the current rate of growth of Cross-Charitiel motor Traffe is malatained, it has been-estienated that it should be possible to obtain suficient reventie from tolin levied at competive ratch, Talpol, Mar. 1.to meet the striding charges on the capital stima · likely to "Se

missing since February 28, Study Group will be subrallied The report of the International was officially declared lost to the French and DHUK The company said it expects today,"

Governments, and their approvat to broaden the market for 1.5

will to required before ad- denier dacron staple through The Yuong An Bbtyping Com- vanding to the next stagedije the brice reduction, All other puny which owned, the ship.

Members of Parliament in the Du Pont Bure prices remain unmade, the notoerent after

the body of one of the ship's g7| United Kingdom Kavę, followed 1.00.0/16 changed, Childd Mail Spéciai,

members of the drew was re- closely - the progress of the covered bff. the midle West scheme, said In 1817 they decided const yesterday, 's

to reconstitute the all-party Channel Tunnel Committee, A spokesman of the shipping originally formed in 1047) Th6 eskiñpanji said the freighter pro- committee is able to call on ex- Unity, hit is rest are, senie dn her pert engitídering knowledge to voyage to Mathsiung in Bogasalat It in studying the implica Canadian Dollars; maximum the Factbest from the island's fions of the project and in the melital 10 37/231 milyen lys, ndthem, port of Keelung, case of dobules on the subject in

ParKamerst,-*** ing 10 25/12 T/T, 10 27/22 0/b." UPI.

Agreed merchant

rates

1

*