1960-03-22 — Page 2

THE CHINA MAIL, TUESDAY, MARCH 22, 1960.

WORLD ECONOMY REVIEW

London Most markets

closes firm

London, Mar. 21. Pre-budge! caution checked

the rising movement to day but selective buying kept many industrials firm in light trading. Hubber shapes, spurted under

i

have cried

themselves out

London, Mar. 21.

For the week to March 18 at least markets

have cried themselves out.

HONGKONG STOCK EXCHANGE

by

Our Own Correspondent:

Wall Street

content with

ORTATION

quiet dealings Shipping company

New York, Mar. 21.

Business done at the Hong- Stocks moved irregularly today in quiet deal-

kong Stock Exchange tils

amounted 10 morning

no $579,000. Noon. proximately quotations and the morning's

Buyers Sellers

Wall Street has staged a good technical rally,

which makes the chartists feel happier and sections: makes all Americans feel better.

string buying on dividend promaticntion to the higher yields in In landia, despite constant pects.

Turned Bonds that one equitter and also Kretical and steels

dill, thuevos loud right gourd dpite the banks beginning to but breweries unproved. Motors liten the fetaling, were mixed beenuse of strike Turve forord Influences bul lexlies held white By.

Git-pra fifted downside by Finall fractions through thek of interpol and foreign boods Greek bonds re- Flayed le. ceded.

eX-

other markels ought to do better, because the countries which

the are exerting forelan competitian should equities Have a better trend than the much stronger, two North American coun-

fallen even tries which suffer tt. gits have

evidently lewer. People

In his annul repoel, the Caninon of United States Steel trot big things from equities,

Ils denounces After Ford Motors rated

the *Tulity of cures 10 dividend by nearly a half, the applying demand-pull

siuntions." Bla stures opened slightly lower. costpush

the Steel's hourly wage costs now In Germany, which has Dullar stocks had a mixed disinfinitonary palley and excid $4 noorty 30 percent any outstanding gilt above the Government's figure appet raner with Shell Oil and hardly

advancing while edged obligations, the hond yield which includes only some of the Standard On

is more than three times the friste benefits. steels and mors fell back,

further Im- The Chairmun Government's i and the Tins continued To move up equity

distaflutionary measures i plies that any wage Increases of for more than two or 24 percent are taken rather bullishly

per annum are inflationary epilat goods.

Chairman The Steel Rimkarty

but coppers were weak.

O kept quiet but firm will Shell

Transport the atandout issue i nevance of next week's dividend.

Leiter wen! feas changed. --UPI.

Closing prices

Cakedges Bonus

Irish Transport 2.

4-0/16,

Comedy 25RABL

Co£70D/10.

Consorcion

Lear

461-16.

我自

where

NOW

Despite

siresgth.

widening

Rajen

ings.

Firmness appeared in most bluu chips and a handful of miscellaneous Issues, while rails, steel, motors and utilities cused.

Little change is expected in

First Nat City Bank Ford Motor Georgia Pacie General Dynasies General Electric General Foods

ICA Apters

Pub. Ull,

as irregular and quiet yon Tyre & Rubber pattern until the anticipated Belly Ost

Giddess Cu "good" Murch quarterly reports | Gondrigh (BJN) Co. cune out. Brokers expect these dudyne Tyre

flagging Gruminan Airerat: parts to revive the

chulf Oil........ confidence apparent in markes | Hammond Orgely

Heyden Newport Corp. operations thus for this year.

The industrial average firmed: Hiram Walker.......

Humesake Mining Co. the strength of golas o พจ Tetris alon point in EastmanIdaho Power

0:1 500 18.0 Kodak, Allied Chemical, Union Tubaces

Cubido

Johns-Manville. and

Ingerxel-tat General Electric was off a large into Stech Co. fraction.

Interebemical Cura....

Jo'l 11arvesticlei

Business Machines on tosicmational

American Ship Building tuck- ted more than three points last week's 17-point rise.

BANKS

K. Bank 1250 INSURANCES Union..... SHIPPING Waterbost XD Wheelock..

40 1250

20

2014

720

308 / 7.13

1000

7.15

2000

7.35

2000

7.20

2000

7.

DOCKS, ETC. K. Whart.. Pe

XD , Sun tX Taikoo Buck

180

235 105

10

18.30

2005J

LAND. ETC.

П.. Hotel 342% 35%

.. Lond..

10033

100 35

403%

500 #4945

2004012

300 49

Humphrey XD Realty

311

1.30

1.075

1.725 5:00

14

to

the

of Armen calculates that RUBBER the cost of producing steel may rise by $13 a ton over the thirty

nonths of the settlement.

5000

3.70

Art ph .

3.09

2000 307

2500 0.65

three.

recent

wage

2000

5.74

5000 8.65

5000

7.78

700

2000 6 7.75

Suncola

3.00

5000+ 4

firm oll section.

Electronics

UTILITIES

Tram, XD

32 326

20

100 79

150

22.20

300 0 21.30

20%

n

a widening trade delict, sterling continues

because is rather less than was expected at this stage of the trade cyclo.

the Last year, Britain used

sterling to repay strength of 1976/deliar dents instead of acquire I United States gold or claims thereon. This year, she is us- ing it for re-stocking of raw materials and ather imports as ja result of the internal baom.

25

Funding on, 1999/21,

Funding Stock

GR-13/30

397, 1999/2004

Fanding Tour_47%, 1900/10~£#1%.

Saving 3, 1985, 05-90

Savings 7. 1960/70-£79-13/10,

Savings 3, 11:05/75-£73.

Barclay's Bank Audi ord-603

Cartered Bank-50 Od.

hongkong-£63%

1.5 yds Bank "As Ja.

kinorahee

Union Enrer Canton--8-3/10. Astreats and Musturs

Britani. Motors Cury Ord-21

Ford Motor ('n-101× 4!1⁄2¢! %<E.

wker Siddickey Group Ord-31

Huis Hoyce Ltd Ord-49% 17.

d.

Men fel "A"-10 454. Standard Triumph International- 11. 6d.

Breweries

Butilien Co-36 d.

South African Breweries-264 30.

Building and Materiale

Anwichted Portland

10.

Goodtone Wall & Land

{.

Content-734

}

The Inventory cycle cannot be ironed out but Its peaks

longer bring sterling crises.

Reserves

습

Non-dollar countries ought to | Trust,

that be able to compete with

American situation. sort of China Mall Special..

A krge rise in physical Peterves alongside an adequate rise in monetary reserves is a let better than used to happen. dritcit is widering The vide beenuse imports are rising even faster than exports but so long strong continue exports nothing dire scenis probable.

The prospects of dire Govern- in the budget Avent measured

may have been from Exports

or elsewhere

exaggerated.

SO

dollar

Rubber

market

review

Singapore. Mar. 21. The market ruled very quiet with very little interest in anything except No. 1

RNY. There

small somo Wis

offgrades which enquiry for

Britain and other non-dollar was met at rufing discounte.

The pattern of trading in the countries ought to rumbin good afternoon was unchanged Ord-4nough while the two

Turnover throughout, countries remuin

uncom slight with interest centering politive.

mainly in No, I Rs.

Factories showed small in- terest. In

Rrx

fuel, Ster and Engineerink Habrock & Wilcox 14d-42 Id.

United Steel #79¢ _3€.

Vickets Lad-- 70.

Food and fabaven

British American Tob. Cit.. ketilme

כא

Imperial Tobacco Cu, Ltd-730.

S.

AENUA

• Lid Boardmann British Oxygen Lut. Ord- d. Canadian Pac Ltd. Ord-60.

Rly-415 De La Rue. Uunion Rubber Co--24g d Tiongkong & China Ga-14. Imperial Chemical-023 d. Lyrks & Co-75 d.

Unilever Lid-11 Ed.

Paper

Dewaler Paper Corp Ord-10.

Radio and Electrical Arelated Electrical-54 34 x, Flectrical & Musicat65 115d.

Co-44 Dt.

General

English cele d

Shipping

Nav Co. def Indo-China Strom

P&O Steam Navigation del ord-m

ord--2

431 30.

Great

1150

Ktorey

Univeral Stores "A"-4}}

4d.

"Marks & Spencer Ltd. Textiles

Woolworth P. W.

Cants J & PL16-35% (d.

Courtaulds Lid-364 7:34.

Mines

Com Goldfields of Soul Africa-

Tis 50.

Cons. Zize Corp. Ord-Ga.

De Beers ref-1714 ad x.

Hongkong ri 149,

"Tin- Ed.

Petaling

Farid

Southern Kita Cens Lid-25, Valon Corp in d. Kent

Goldmining-

Driefontein

173 1045 cor,

Now

Peak Trac

(0)

Star Ferry

C. Light

Electric

Telephone,

XD

Black International Poper

and Decker and National Daity rose more than 2 cach,

Lukens Steel dropped around

14 and Jones and Laughlin around one in the steels.

jumped Youngstown

about

Ford lost nearly a point and small fractions.

$.59other motorA 2000 7.15 Texaco rose nearly one in

down

showed Lition and Zenith up around one each strt Motorola

412 three, and Atapex theon of around one.

Today's volume was 2.500.000

shares. Of a total 1,181 shares

Int'l Tel. & Tail."" Johns Manville Co. Kaiser rastiem

Kansas C. Power & Ligh Kennecott Copper

Kiruberly Clark

Liggett & Myers Tub, Co. Lily Tulp

Litton Indu

Lockleed Aircraft

Loews Incorp

Lone Star Cement Co.,

wenstela & Sons.

NeDemos a. Hay

National Stre: Curp.

New York Central Noranda Milnes id.

231 301 100 364/traded, 443 were higher and 507 Norfolk & Western Ry.

Dow-Jones closing averages

30 Industrials

lower.

INDUSTIUALS Cement STORES, ETC. Dalry

445

Y

were:

20 Rails

... 23.80 26.10

200 26.343 B Stocks

500

20.10

40 Burich

Watson

..

ZAU 1000

20.70

20.80

20,70 26.00

Lane, Craw. 32 321

COTTONS Nanyang

¿ 10,30

MISCELLANEOUS

Vibra Utiman

250 G 20.4013 Uties

2220 2.20 2000

5000 € 2.10 2000 6 2.20

6000 2.25 10009

2.23

Comm. future price index

Closing Prices

Abitibi Pwr.

Paper

Aiden Inc. Acy, ...

Alyona Steel Corp. Allied Chemicals Allied M Inc.

Allis Chalmers

Am. Brake Shoe American Airline Am. Cabio

Radio Corp. American Cyanamid Co.

Am. Gas & Electric

46

19

North Amer, Aviation Horthwest Airliner (Can) Olin Mathleton...

Leyto

1991 Shell as co.

601 Safeway Stores

0072

has own

sea sick 'cure'

FAST-ACTING sen sickness "cure" has been discovered by a British travel group's, ship's

surgeon.

4472

The

11%

4124

He is Dr Douglas Fairley, of

ner Redesla Castle, one of

the Union Castle Line's 15 ble New air safety

472 passenger

on the ships England/South Africa run,

Dr Fairley claims that after mothy

his of usa, remedy-a plnit powder w tablets-bas proved Diselt 100

437

per cent.

ot heון

Not only Is I extremely. rapid-relief following in 10 to 15 minutes but li does not in-

regulation

Melbourne, Mar. 21. THE Department of Civil Aviation has introduced

a now air safety regulation

duce the drowsiness in patients to guard against mid-air col- Allisions between civil and of come current remedies, reaty US Navy doctors based military aircraft.

in London have discussed its effectiveness with Dr with a view to its use.

The

British and

Under Folrluy

Royal

the the regulations, Austrollin Air Forca Common-must notify the department of wealth Group, which controls any fights I intends to make DIL or across routes used by Line, the the Union Carte

international airlines. Hunting-Clan

Line, ard group of airlines, have also A

powder

the

421-

departmental spokesman the

and sad today that until a year.ngo passengers in

wD3 such a regulation with conspicuous necessary, because

commercint planes seldom llew above 25,000 fret,

are a

Bul

The tablets

standard proprietary fine (Avomine Pilis) and the pink powder is a

now Boeing 707's and mixture of this and butobar- Comet 4'e were reaching 45,000 bitone crushed together. The feet and could clash with RAAF power, taken alone is usually sabres. sufflelent

"There have been several between: overseas quiasiest collisions

and military remit at Dr Arthur" Levin, medical high levels, and we intend to adviser to the British Common-make sure there is not the wealth Group, suggests that the slightest chance of a similar the spokesman 31% speed of the remedy's action lies disaster here,"

in the fact that powder, being atd.-China Mail Special. more easily absorbed into the

New British jet

around

Ray

McDonnell Airerati Minnesota Mining Montgomery Ward Motoroin Ine, National Bircuit Co National Dairy Prod.

17012

4815

153

404

National Lead...

introduced wbie's b

794%

23 Inter-agnin

4014

success.

20%

46

Olta Elevatora ....

383%

417.00

Owen-linols Glass

143.98

Oxford Paper Co.

207

63.97 Racing Gas & Elec.

204.03 Part American Airways

16%

$2.50 Paramount Pictures

443%

to quell unrest, but

145.00 Parkte Davis Co.

38-14

if not, the addition of a pill is

Penny J. C. Co.

11415

vaid to

relax the

Penn. Salt Co.

2714

stomach.

civil

Philip Morris

30

Pitney Bowes

4312

Procter & Gamble Co

08

32

Publicker Inthiatries

Pittsburgh Plate Glass

70

to

50%

33

Pro 01.......

32 Stadio Corp. Pre

hadio Corpuration

PAV

71

Sears, Roebuck & Co

system, allows the stomach no

as

401 Saint Reg. Paper

4316

time to "build up" into act sickness

As the

159

A

butobarbitone, а

Smith, King & French

43

Socony Mobil ol

2011 Solar Aircraft

07

Southern Railway (Com)

ਅਜ

104

Sporty Ran

2214

Auconda Copper.

52

Stendard Brands

00 Standerd O of Cal.

Armour

Standard Oil of Ind

Allas Cons. Mining

154%

Stone & Webser

Standard Of of N.J.

4016

markot

this

1819

Studebaker-Packard Corp.

Dutch concern

folkwing auten:

Baltimore Olilo

3312

Sunshine Mining ...

012

15

15.3 18.03

Bank of Montreal

SwillCo.

40%

52350

Beach Life Savera

2014

Texas Co.

1250

Beneficial Finance

2

Textron Inc.

1.00

Bendix Aylation Corp.

Thiokal Chem.

441%

New York, Mar. 21. THE Republic

Aviation

071

21.00

Benguat Cone.

I

Tide Water O

1.01.

Bethlehem Steel

4014

Time Inc.*................

Boeing Airplane

Traders Finance

ZRX

Borden (The Cu.

Tri-Cant, Warronis gen

Burroughs Add Machine

wentieth Century Fox Film

5013

British Amer. Oli

Union Carbide

133

Brillan Columbia Pwr.

Union Ol of Cal,

Cana. Bk. of Comm. Campbell

Union Pacffice Raliway

M

48

Uniled Alcerati

JT

Unlied Fruit

24

157

United Gas Corp.

US. Rubber

BE

00

WAS

INVESTMENTS HK & FE.*

Invest

#.30

0.03

10.10

From President Eisenhower downwards, American author)- the tles, are

Asserting that

York, the business outlook is strong, and rubber futures today closed 25. all the better for having be- to 88 points lower with sales

There are of 08 contracts. come less feverish.

Exchange rates

further reports of A profits Reactionary swing reflected Dolness was done in the local

exchange squeezo in Americe, largely the lower London cables plus unoinclai

morning of the the withdrawal of factory buy-U.B. dodlaru (por 31) breause foreign competition deters businessmen from raising interest in the local spot Starling noles (per £1)

Bolling ing prices to offset higher costa. market,

on Australian noleg iper 21

Indonor readin (ver 100).. Even if Wall Street's rally technical

the slams tiesin (per 100) is only clinteal, London and

Singapore (tralto)

Yesterday's Closing

and

reasons aftor recent advance.-UPI.

COMMODITY PRICES

Mixed Contract

Mar/April

LONDON

Closing prices

SUGAR

per lb.:

Apr./June

all in Deco

pot. 3424-30 Settimant house erin

3416-243%

May/June July/Aug.

Det./Nov. Dec/Jam.

July/Sept.

3316-339

Oct./Dec

32-33

Jan.tar.

3772-3244

May

34-344

Dess-3470

NEW YORK

Closing prices all

Am. Home Prod.

Am. Mach. & Fdry.

American Motal

Am. Natural Gas

American melting

Am. Sugar Not: ...........

American Tel & Tel

American Tob....

Arheo Steel

Asbestos Corp.

Baldwin-Li-Ion

Co.

Canadian Pacino B

Cam. I

Cat Trelor

Co.

Celanese Corp.

C. I. T. Financial Corp.

Chase Manhst, Bank

Chrysler Motors

Clutt Peabody Colgate-Palmolive Douglas Alnoraft Dow Chemien) Dupont de Nemours Eastman Kodak

El Faro Natural Gon Family Finance Corp, Firestone Tyre & Rubber

Schenley

Scott Paper

21% Sinclair Oil

U.S. Smelting

US Steel

US Steel 7 P.C. PF

Warner Bros. .......

atinghouse Air Brake

Eiretile

Western Union Tel. Ca. Werl Va. Pulp & Paper Winn-Dixip Stores Woolworth (K. W. Zenith Radio

contains powder

prescribed

drug, no commercial marketing on demonstration

of it is foreseen at present,

Now York, Mar. 21.

now

turbo-prop

U.S. firm invests in T Vickers Vanguard air-

0

finer,

British double- decked craft designed to

139 passengers short-and-medium-haut trips.

carry

op

arrived at Idlowild airport

Corporation of afternoon

a has agreed to invest about en route to Trinidad for a

3471

of demonstration Dutch Fokker Aircraft Com-flights for British West In-

21% one million dollars in the series

pany, it was reported in Newdian Airways. York today.

The four-motored plone land- That will amount to a one-ed with 41 persons, including 30% third interest In the Nether | 19 fgh porronnel, after a

10%

03lands coNSETTA

2214

Industry cources

sald 143% agreement, subject to approval

pause at Gander, on s the fight to the United States,

first

(Alr-

2032

403

4091 by Fokker stockholders next Vickers Armstronga

ol month, would not interfere with craft) Ltd., manufacturers Bat the rights of another Anterican he now plane, claim that the rm, Fairchild Engine and Air-streft has the profit potential plano Corporation, to build the of at least 35 per cent more other short-and- Folker-designed F-27 pommer- i than any cial airlineT-AP.

medium-range transport.-AP.

ย

044

100

UPL

AIRCRAFT PARKING BY TV

01

British Hornro Petroleum sýnu- per lb.:

ca-

Britis Buzzmat Petroleum—20

Contract No. 4 (world)

Mar.

3.00

1.

Britte Petroleum Cau Itel-501

May

3.17

.

July

321

NUITIN-478.

Sept

Shell Transport & Trading-150

Det

3.26

No. 1 rubber

Jan,

120

No. 2 rubber

-fauter,

Mor

No, rubber

May

Nu. I crepe

Spot-17.A.S. Cuba)

General markets, c.id, boole, parta:

cents | April .....

Estate crepe in Apr....

Thiel Apr.... AMSTERDAM

Closing prices all in guilders

per kilogram, c.lf. Mar.

3.30 buyere 342 huyor 3.28 uvere 333 buyers

-UPI.

MÉTALS

NEW YORK

Closing pricce, all in conts

per lb.:

Load

Eine Mar.

Mar.

May

May

Copper Mar.

May

LONDON

11.30

11AP

21.45

11.65

31.22-24

Total Sales: 126 contracit.

Open Interest: 6,091. contracts,

WEST GERMAN

TRADE WITH INDIA

Frankfurt, Mar, EL India West Germany's best customer in Southere! Asia, China, Japan, followed by

and Indonesia, the Institute

Contract No. 6, (domestic)

09.02

Mar

6.80

May

490

July

0.01

COTTON

Closing prices, all in sterling

per long ton.

Flopt.

Buyer Seller

NOV.

0.03

Spot-Cit. NY.

27

Spot

ox-duty? Total Sales: 311 contracts -Open Interest: 3,212 contracts. UP.

MANN 5,70

NEW YORK Cloning prices will in

nondi

22 700

700%

7201

centa Copper

per lb;'

Spot

33 16 nom.

Mar.

Buot 3-month Lead 2nd half Mar. 775

June..

20611

May

12.20-27

RUBBER

July

30.BB

Zine 2nd half Mar... June..

23071

701 D1

30.50

-UPL

Dec.

D1,33 4

Mag.

31.30

May

31.30

of Gorman Industry sald in

July

36,60

Oct

Es recent bulletin.

NEW YORK

Dec

30.43

FOREIGN

However West German CX-

Rex rubber futures closing

BAO PAUL

ports to India and other coun- prices, all in cents per

lb.:

tries of the area dropped eight

per cent last year, to US$670,-

071,420, it cald,

Importa from the same cour

Mar.

Mary

July

Repl

NDY.

Jar

10,90

per kilo)

40 50

All unquoted.

3.YO

19.00

Avérego price in

38.30

designated apoi markela

U.S. at 14 not

Ainong Germany's

your,

imports was

tric rosa three per cent, lo US$302,087,130.

from India laut $5,000,000 worth of tea

SINGAPORE Closing prices all in Sumito vents per Lab, Maloyan prats: German tes courtumption pone No. 1 Mar.

12015-12011 AST two per cent in 1959, It added,

No. Mar. and West Germany run third in No & + European consumption behind No. 4 Great Britain and the Nether land.--UPI.

pol rubber wihaled

Ilavet "crape_ Nu, a pale crape

110-7102% 32076-12092

314-12

Mor-/Api

May/June

July/Aug Oct/Nov 200

Available.

35.00

109/7/2

Total soite: 19,409 valca,

LIVERPOOL

Closing price

(per 1b.;

American Copiraci

$1.70

POROO

Closing prices all in cruzeiro LACHANGE

Mar/Apr

NEW YORK Closing rates; Canada

England omcial

· Õllars - uncjjanged.

LONDON Closing rates;

New York

Montreal

Copentingn

Binckholm

MIN Zurma

2.0000

2.50-0/15-3.80-11/10 -

[2.60)1⁄2-2,001%

20.036-20.03%

1741125743) 19.1011-12.16,

With the daily increase In the pumber of modern jet airliners and other types of airgisti which pao London Airs peri, the authorities are trying to improve aircraft parking facilities und 'abrerats movement "in- tho, máraballing_areas. An experiment is now being oonducted by the means of closed streulit television." af stig erboriment proves suðvestfpi kir- cesti landing at the sieverf wil be directed to the parking arena by a Marshalling. Buperviagr, pictured here, lenking into a monitoring sataja. Diraaliqua se, the pilgi sen alçou be radla-tsisakynq;