1960-04-12 — Page 2

THE CHINA MAIL, TUESDAY, APRIL 12, 1900.

U.S. TEXTILE SITUATION

HK accused of HONGKONG

London prices ignoring

decline

London, Apr. 11.

Prices on the stock ex- change sagged today in a fresh out of post budget blues with low-yielding industrials coming under selling pressure.

Loading

but

showed Industrials fulls of us to Sve shillings. Steels

nished about their wors! atores motors, electronles, toneros lined dull.

Gold shares recovered from their early welness to close on a firm nute. Copper sloelts were mixed.

Oil Iseves

quota demands

New York, Apr. 11..

The Journal of Commerce said today that Hongkong textile interests appear to be gambling that action on U.S. quota do mands can be stalled for at least another

year.

newspaper

The conimercial carried a staff Washington on the textile quota

situation. It wald:

raport

STOCK

EXCHANGE

by

·Our Own Correspondent

Business Bone at the Hong-

kon

this Block Exchange;

amounter to pro-

$2,303,000,

morning ximately quotations and the trunctions:

Shares Buyers Seßer

Banks

INSURANCES

UN...... SHIPPING Wheelock

"The Commerce DepnetmentOCKS, ETC. fomhus been trying to pry a promiseK. Whart, XD

from Hongkong that it would Dock

Provident cut back Its textile exports to the US., which in 1000 tripled 1058 totals ark are the

Hongkong motte one offer last going up.

int the department Autum,

the export

quotas asked tit should be inde inore restrictive. been heard Hongkong hasn't from smee.

hat *Henckong apparently decided to ignore the threat of a crackdown on its textile exports to the Unlical States.

0.8. officials trying to 'negotiale a Ilongkong con-

the Ray that trol agreement were (ractionally

Colony, by Brilish CroWN Rubber

tocks Were

Ignoring the problem, hopes t will just o' away. "Privately, these bonds were mostly unchanged inndmit, Hongkong's quiel trading.

higher.

stendy.

Government kond: responding

to investment

dematic moved

against the ensler arift, Foreign

Dollar

stocks were

weak

eross the board.--UPI,

Closing Prices

uitedged Bonds

British Transport

Liisus £40 Consols 70-11/16,

LUAR Conversion

Funding.

Fuling Stock 312, A00-1/16.

11/70/TL

3

<<

1059/00

13/2003---

Funding Lone 42% 1950/DO—A QU Savings 3, 1965/855-3/16. Savings 3 1000/10-OK.

Savings 3 AVC5/75-73-8/18.

Banka

Barclay's Bank "A" Ltd ord-San

Charterest Bank-19 kl.

Hongkut £65}y..

Lloyd's Bask "A" .

Insurance

Liner Irance

Canton-£4.

Aircraft and Motors

Bris Motor Corp. Ord-30 Od.

Ford Matur

Hawker Siddeley Grup Ord-9ia.

Rolls Royce

Ruates LA "A”—Ins_Lolgd. Standard Tłumph

123.

Breweries

International-

Distillers Co- 10:54.

Soul African Breweries 23 34.

Building and Materiais

Asociated 'ortland Cement-7

15d cor

officials manufae-

the

A gamble

Back Taikoo still

LAND, ETC. JK Hatet IK Land

+

preys

Itealty KUBBER Amalk.

Treat

19. Keinttian..

Sungla

UTILITIES

Star Ferry

Tram

Youmati .....

C. Light

"The Colony's gamble that on the right turers may be

U.S. will not set against track. By standing pot and re- fusing to comply with Washing-its textile products--if that is

what the ailoncu *voluntary

from Hong- wishes for fon's

on 입단 quotes on their textiles ship kong means hinges menta here, the Colony could Tarif Commision's livesilm-retrie

iniparts. sweat the threat of ion of

Eisenhower's re- US. restrictive action passes At President

Co:runissian after Congress adjourns in July. quest,

studying a system di import curbs that would offset subildy this country pays on raw cotton 'exports.

Pakistan's second 5-year plan

"If

the

the

commission

is Cement......

the

crot

uni alter make is report Congress recesses in July. Hong- keng just might have it made, 1.S. omcials speculate. Here's why they explain;

**The Tari Commission has although no deadline to meet, under the law it takes priority over all pending enees. But the cotton probe is one of the biggest if not the biggest case the Commission has ever undlad, und 1 rhy take months to

uish & report

Drive

"Textile industry leaders who have been sparking o drive for all textile imports

London, Apr. 11.

of In- Pakistan's Minister On 47 TO.

dustries, Mr Abul Kadim Klis, said here' tonight that his country hoped to raise almost half of the £1,428,000,000 needed to Bounce Pakistan's second curbs on Ord-1s

five-year plan from coun- tries abroad.

who was speaking Mr Khan

Ja conference, is British American Tob. Co., Ltd--at a press

London seelding investment for the new economic pin which begins in July.

Goudlass Wall & Lend,

100%

Coal, Boel & Engineering Babcock & Wilcom Lud-409.

United Steel-76 34

13 70.

Vickad and Tobacco

01 A

Imperial Tobrera Ca.. 143-05% 9.

Merttaneous

Boardman Marden Lids 36. Britiel Oxygen Ltd. Ordis Dd. Canadian Pacific Fly-$40.

De La Rue Co. Ltd. Ord-G7« OLE.

Thin up llubber C-2.

Gilman Belding Lu-20 714c. Hongkong & Chion Gar-10s Imperial Chemical 589 710 Los 4 Co Tihd. Unilever Ltd--140. Paper

Bowater Paper. Corp Ond 728 36. Radio and Klectrical

Asmeltet Electrical-Gi# 3d.

Flectrical & Musical-40 Fnglish Electric Com40s General Electric-39% 30.

64.

Shipping Indo-China Slear Nov. Co. def on-214.

P&O Strom Navigation de? ord- 406.

Stores

Crest Universal Stores "A"————468. Marks&Spencer Lu-728. 30. Woolworth F. W. & 653 4156.

rextilen Coats J & Lid- Id. Courtaula 2,000

Cons

Alines Goldfields of South Africa— Cor Zine Corp. Old-Tis 3.

મન માં.

The Beers def-112a od.

Hengkon TM-64 $190.

Petaling T-74 7

u1--hs

SonUsers Kinta Ceng Ltd-278 04.

alon Corp-som 10150.

West Driefontein Colamining-1004,

British Borneo Petroleum Bynd!-

café-63: 1:50.

ed

Brith Itarenah Petroleum-28.

British Petroleum Co.,

Shell Transport & Trading-1018

Burma4DR

Id

Reuter

Japan may

establish

overseas cotton mills

翹

Wahlillah, Apr. 11.

The magazine U.S. Netre

During his world tour he will visit about a dozen countries to sok id

AIM

He still that Pakistan aimed at a four per cent annual in- Ierense in the nation product £624,800,000 in and needed overscus ald, grants, and pet- vate Investment,

In return Pakistan could offer a complete "Max holiday" for at wo years after an indus- Jenst try had been established and a

17 two-year exemption come tax for foreign technicians and managers-Reuter.

Chicago wheat prices

Chilcago, Apr. 11.

Wheat closed mixed while soy-

bbade were, utekonged

to

Higher on the train futures

market today.

110

Trade Ullerest centered

whicut months as

how crop

dealer upparently expected a sightis: bullish U.S. Govern- munt port on 1080 yield.

The report, issued after the cluse, said production will bo six per cent larger than in 1950

above and 17 per cent

1940-68 average.

Clos

but

the

have indicated they wit await

the Commission's decision be fore making their bid to Con- press for quota legislation.

"They feel they need the flad- ings of an expert, official body to bolster their care for protec tive quotas since, stand at the moment, they do not have the voles to push control bill through boil houses,

.19

matters

Honkong Cas

1200

ཚ སྐྱུ དཱིནྡྲ ་ ༄ ༄ ཝྱཱ 3 1 ཨྰཿ ༔ ༔ ཿ སྠཽ ཱཿ

Noon

Wall Street

a

closes on

weak note

New York, Apr. 11.

Stocks elosed' on a generally weak note with steels,

motors and chemicals lowered slightly.

on Mathieson

marning's

Sales

1270

90

MM

Drug, sealtered rails, elce

specials scored tronies and 1200

reme good gains. Selling when

New York Central

Montgomery Ward National Cash Reg. National Lead ...................

4513

A

7.20

100

112

10,80

-100 19.70

10.00

18

W

it came, centred on those 1.15 stocks Led to compile the

averages.

B4

Sellers chipped Owny At prices from the second hour on, but

restive noticeably grow after the American en cod

teel

Jagtitule reported 31stcot produellen this week was experted to drop to 79.9 per 50 cent of

for capacity

the 24.00 1.178 sharpest decline

10**

6015

1.1975

11.50

11.4%

U.40

of the year

and the lowest, operating level

Pacille Gae & Elec.

Fan Amerkan Airways Paramount Pictures Porke Davis. Co. Penn. Salt Co.

PiLimburgh Plate Glass

Radio Corporation Sinclair 1"

ANSPORTATION

New experiment

in

economical parking of cars

SIMPLE, robust system of moveable platforms driven by an electric motor and said to allow garages or parking areas to accommodate one- third cars more than would be otherwise possible, has been developed in Britain.

Known as the "Carpack", the.

new systen

is being manufac-

by Exonomical Parkirat Fibreglass body

Lid., London.

With it, care other than those parked in the back row of the lut ur garage, are driven on to with the Carpack

that

Socny Mobi ou Standard Bron Standani Dil of Cal.

416

37

tured

4%

Standard Out of t

Standard Out NJ.

Štep Ruek

Stering Drug Co.

4171

SWIN È Co.

447%

Texa■ Co.

1319

Union Carbide

United Alrerat

U.S. Foll "B"

C.B. Gyp

the

US. lubber

UB Belling

U.B. Steel

the

0.00 since the week of November 10. 0.35

Steels reacted sharply to an

415 Industry estimate putting steel

production

week at

thia

31 Lowest level siner mid-March:

<2%

U.S. Steel, steady most of day, dropped more than a point, Youngstown Sheet fell around one, as did John and Laughlin.

Chrysler fell around a point in a generally dull mstor see- tion.

Today's volume was 2,520,000 shares.

3121

172

110

171

22,90

23

22,00

2715 27,43 ziti

12,40

301

30

4312

43

14.30

1425

1433

14.40

27.40

21.30

21.30

371; 33

6.03

1414

bus

were:

1.90

7

8.00

30 Industrials

30 Rall

15 Utilities

2.40

21%

13 Sucks

40 Bonds

STONES, ETC.

Dairy

Watacri Lane, Craw COTTONS Textiles Nanyang MISCELLA

Afied

ii.K. & F.E.

Invest.

Climan

Owing to elreunstances beyond our control, the usual detailed stock market quotations are not published today).

NY sugar market

New York, Apr, 11.

4 sugar futures to World No.

day closed unchanged, to one polni lower with kales of 73 contriola,

Domestic No. 6 augar closed unchanged to two points lower. with sales of 452 contracts.

Light Hquidation in the world contract met an indifferent de- mand while the trade awaited saw market developments and

Culkan nows.

"Be. if July arrives without the Commission having malle

Congress Iran reportedly bought 20,000 Its report public, will have adjourned for the tons of refined from Formosa, bolical conventions and the The impending Passover ind threat of legislated quotas will Easter holiday helped to restrict be blunted for at least untilļ market interest.—UPI. next year. "And It the report is made after adjournment, it is belleved Eisenhower through President administrative neilon, would not harsh discriminatory Impost controls on imports from Hong- kong.

"This, as the officials here are beginning to speculate, is what Hongkung is gambling on. UPI

Germans to

construct

Indonesia's

power plants

Djakarta, pr. 11.

The government has accept

Agreed merchant

rates

Of a total 1,228 shares traded,

407 were higher and 568 lower.

-American exchange

was 1,240,000 shares,

volume

Dow-Jones closing averages

Comm future price index..

Closing Prices

Aiden Inc. Acy.

All Chalmers

American Airline

Amer. & Forgn, Power American Me

American, Stetting American Tel & Tel American Tob

Anagonda Copper

Armée Steel

Armour

Atina Cons. Minding Baltimore & Ohio Bolbietem Steel Cana, Brewers Canadian Pacific R. Chrysler Motors Culgate-Palmolive Co. Commercial Con

Edison

Crate Co...***** Crown Zeilerbach Cuban Amer. Sugar Diamond Alkali Dupont de Nemours Eastern Air Line Eastman Kodak Ford Motor General Electric

Foods

General General Motors

Kitty Dil

Glidden Co.

Gull Oli

Heyden Newport Corp.

Talaid Steel Co.

Int'l Business Machines Int'l Harvester

International Nieke

Int'l Tel & Tel Rates C. Power & Light Kenniccate Copper Canadian Dollars, Maximum liton Ind... selling 18-27/32; Minimum buy-Lockheed Alrernit ing 17-3/32 T/T; 17-5/32 O/D. Loews Incorp.....

West German Deutschemaries, Lone Star Cement Co. Maximum selling 72%.

Yesterday's Closing

Muricata Mining Mission Development

Un Pacine Railway

Wariler Bron' Woolworth tic. W.)

LUPT.

Rubber

market

024.80

144.13

00.33

201.63 Thr

03.13

149.0

# tr.

review

Singapore, Apr. 11. norning WILH quiet little incentive to

There was some steadiness during mid-session attributed to China enquiry 1915 shortlived.

4

231

44

but this

The afternoon was quiet until when 30% shortly before the close 100 state bull quidation forced

prices rather lower.

4231

152%

54

20

109

73

101

45

Lower trade intereat, was good and with sellers coming out fair exchanges were recorded.

The market closed easier, In New York, the rex mubber market closed 15 to 40 points lower with sales of 20 contracts,

It was extremely quiet and

piatforms,

one gat, The platform, which

B

for bus experiment

London, Apr. 11.

N experiment in the use

moves sideways, thus allows A of fibreglass which may

"run" to be cleared in front of

any car which must be moved. have far-reaching affects on

It is therefore possible to have

any number of rows each, with

the exception of the back row, with one gap to allow for the "run through."

The

In garage and parking lot lay- outs with entrances in two 01 streets, a one-way syd on Carpack platloris enables whoic of the space (less one gap in each row) to be alled

The pladers, 12 1 consist of two troughs fixed to a framework, This

prussed

long.

stcol

pairs

which touch on

four 1ing unt

rollers of ball-bearing

llat steel rail

A

assembly

bus body construction is being carried out by an omnibus group at Lowestoft.

The body hull, except for the floor and entrance steps, of a new single-deck, bus has been manufactured entirely polyester resin-banded

from glass-

Пbre. The bus is running on a local service in the town.

The object is to find out whether there, would be worth- while savings in building, main- tenance, and operating costs it this fibreglass were used on

scale in full production.

Testing may also reveal such advintages as quieter running mil raised above owing to the non-resonant nu- together with a parture of the material and greater A comfort in hot and cold weather because of the low thermal con- ductivity of fibreglass compared with nfuminium.

flush with the floor. AUTOMATIC

centre the flour, of grooved wheels, acts as guide. Gentle ramps at the end of cach trough allows cars to be driven smoothly on and off the platforms Automatic coupling. uncoupled by pressure on foot pedal, gether.

Unka

д

them 10-

The end platform on the right hand side (facing the rows of motor- eta) is coupled to a driven winch

บด which can situated outside the garage. Push-buttons control the driving motor situated on posts be tween the rows of cart.

Electrically interlocked mechanically linked safety bar- riers prevent cars being driven off or on to moving platforms.

Operation movements, taking in all be

and

simple, five

tween 15 to 30 seconds, being

the featureless on

terminal

all that is required to drive any Traders holding martact,

off car straight out of the lot or apparently before the Passover garage,

In the event of power failure

The sides of the bus pre, com- posed of Inner, the outer, bkins with moulded window 6péhings, wheel arches, and doorways, and were manufactured in complete ecctions from the front bulkhend to the rear corners.

Between the skins are upright roof Abreglass pillin. The moulding is in one plece. The fornict of separate fibre-gines panels arewed into place.

roof

Interior

surfaces

Gre

The back of the bus is also in one plece reinforced by fibre- gloss members bonded to it.

Boac opens new "Cannonball" service.

Bolic Comot 4 Jörliner

D2 and Easter holidays. Limited

trading evening-up nature. Moderate | by hand. 145 shipment

musty of an end platforms can be pushed took off this morning to

3715

Wis

offerings

included

come Singapore bark at 30%

172 cents. April-May, cost and

41%

443

Inaugurate the fastest-ever

freight, Current month No. 1 First aid for 'drowned'rvice from Hongkong to

Rss. Wha quoted 40% centa

nominni.

In London, the rubber market

4316

1001

1022

73 34-7/10 penca.

was quiet with spot quoted at

outboard motor

Last year Bque introduced to "Breakfast in Hongkong, supper in London Comet to

HE first moments after the Far East. THE

Calling at Delhi, Teheran an outboard motor has and Rome on the way, the new In Amsterdam, the rubber been drowned through cap-service will cut dying times lo

104

福

UPI.

market was very quiet today.sizing, or some other mishap, all threo elties, renting Del

by coffee time, (11:10 a.m.), are all-important if damage Teheran for lunch (2:15 p.m.) is to be kept to a minimum. and Home for eceltelts (8.08 The British firm of Parkins p.m.). Outboard Motors Ltd. has The time and route pattern ho new "Cannonball issued a sorios of Hips to of

Come was fixtu after

COMMODITY PRICES

RUBBER

NEW YORK

Rex rubber futures closing prices, all in cents per lb

METALS

NEW YORK

30;

Closing prices, all in cents per lb.: Leed May Fully Zinc ·MAT July Copper, May

11.50

July

May: 40; July: 3,48; Bept: Nov: 38.30: Jon: 38: Bar: 37.30 May 37,

SINGAPORE

NEW ORLEANS

owners.

First, get the engine store extensive marveya by Bobe planning experts throughout o Exxon as possible and stand the Far East and Asia, it in an upright position. Re- It will operate weekly every move the abroad and sparkding Tuesday; throughout the sum- pliga and, with the geir lever mer.

in noutral, tate the engine A fast return servico trom Closing prices ail in cents per by kaning the nywheel to London every Tuesday will call ib.:

chock that no material dimage at Rome, Teheran and Calcutta has been done.

to reach Hongkong in only, 20 engine must now be 10 hutca

Both pervices will inve turned, aver several times with the hand starter until all the and tourist class accomandia-

32.50

30.70

31.10

31.50

30.75

30.70

30.05

SAO PAULO All unquoted.

designated spot markets: 32.08.

The

water has been ejected from the lon cylinders, a plece of paper being

held in front of the plug-holes

to check tha

The old plugs must how te cleaned in petrol now

Air-conditioning

Avenge price in U.S. at 14 clubul or on for the Chusan

salos: 16,040 bales

ed a west German offer to join in the construction of steam generating power

Closing prices all in Strate

LONDON plants with a total capa. cents per lb, f.o.b. Makayan

Total Closing prices, all in derling city of 137,500 kilowaita ports.

1104-106 per long ton:

113-119

Ti pot 114-1153-month 1131-274 Copper spot 119-120

3-th Low lat haliť ADT

July 1291-1301

Zino Lst half Apr.

The Director General of the No. 1 Apr, State Electrictly Enterprise, says No. 2 y

ly

the Government has finishell study on the quailty and dog's No. Apr.

No. 3 Apr.

At their best, the new crop deliveries were up a cent from and Friday's

the close, Trado

of offers from various machine Epot rubber anbaled.. World neport sys Japanostructions at

Blanket crepe are otherwi, was dull and manufacturers

factoties. totille

zo. I polo crepo Volume with prico tex-dirait bohaldering establishing

Steam generating power planin in Jaya's will be constructed ifle mills in Mexico, tail, changés generally small.

Viet Nuri Ceylon and South

Whoat closed 11⁄2 cont a three bigrom places-Djakarta. bushet lower, to higher, (50,000 kilowalt plant), Semar-b.: The weekly news magazine nelze unchanged to it, ang. (37,500 kilowatt plant), and No. 3 Res epot,

products

dis 14-16 lover, yo 4-1 cent east Java's capital of Surabaja Japanese mills would have access lower, and coybeant unchanged (50.000 kilowatt plant). to markets How dimcult to enter.to 4 hier.AP.

Japanese trade proihotion will

to avoid import curbs,

Baid the

the

mich

noled.

alio be stepped up in the United Stales,

magazine Justioso merchants will take part, in live US, trade fairs in 1980 The largest will be the World Trade Fair in New York in May.

Exchange, rates

exchangy

ratket

Business was done in the unmetal A total of 120 Japanese firma inorning at the following TADOW:

17,8, dollars, iner 21); will exhibit 0,000 Reti fi strling note: [ppe (41)

efccitanie computers,usitadan hot pov dn cluding

#d3201 (per 100) Bujitoners, kitchen utensils and a lin onice equipment AP.

Wingapore (struita)

LONDON Closing prices all in perico per

3416-345

Settlement house term: April/June July/GDDI.

Oct/Doc. Jan./Mar.

3412-34}| 33-334 03-53% 2014-2015 Dederal markets, c.lf, bada, portši

diesel A 15,000 kilowatt genemnting power plant will be constructed in Djakarta's satel«. Apr. lite town of Kebajaran tor the May West | Jupe supply of electricity to Java province and, the

Asian Games projects.

Orders for the machineo at the projected Kebojoras plant

July

UPI,

hiyera Sebes

DA

750

785

20)

241 242

274

771

COTTON

FOREIGN

ENCHANGE

NEW YORK

Closing tutes: tanuki KORLATH DORIA!

30-days o-daan

Ausity

NEW YORK Closing prices all În cents por

New welddad

Boutis Atrion

iba..

LONDON

dt.10

nous.

New York

July

at JuverN

1902 Catato crepe thin May

thick May.. AMSTERDAM Closing prices all in gulilore File

have been placed under a long: per kiloutam, ult. Apr, Storm credit agreement.

No. 1 rubber The, .construction

No. 2 fubldi” ......******* Kevajorah blant is scheduled, to No. 1 trepe "El l'bu completed before 1901-AR,

$7.99

of the No. 2 rubber

30.74

submerged it must be drained

should now be connected and

Apst

and refiled. The fuci line THE waw air conditioning

urlits on the Chuva normal starting procedure carried were specially designed and

out:

Tho

chatine

must

bc

stopped in 15 seconds or the immunuféctulod By. Mosts. peiler may be damaged. Re- Carilor Englisoifhg Co. of installed in the boat, the endne | London to fit Info the spaces should be rur at a moderate already occupied by the ven- speed for 30 to 40 minuter.

equipment...

with practically no loss of passen- gor'spica.

completes the dryer out of the tilating. motor,

|

20100

If the engine still fetuses to there, it should be returned to, an

The system, provides : automa-

control at temperatura i authorised Perkins denier for tla examination after the plugs throughout the vessel.

During the re-fl the standerd g

злобл

2.0.49

L

Closing rates;

Moalie

Asaterdam

Frankfurt

ditation Man

Zurich

have been removed and di poured into each cylinder, The of the accommodation has been engine should then bo pulled considerably improved. Private

with ho over

chorgery tollot fäcillites have been, pro-

over 80rát-étusa · arter to circulate the dll, ivided. 4.90-19/15-2.06-1/11 port wipod dry and replaced cabins and alas in a number of rooms in the tourist diáre PANAS bodur dentitets to the denter,

Considering the tremendou Extensive (und of glasr Ahto #limber of Pricing outbound has been made in the new toilet engines in list at home and spaces,, 'fes all cason to sliower OVOTIOTER thewe instructional | trays, in 'some, čásés tip com- anould not "DU WITH æse plete units, are made of this

material.

10.06%)-10.50%

11.71