1960-04-26 — Page 2

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Pago Z

THE CHINA MAIL. TUESDAY, APRIL 26, 1960.

DISCRIMINATORY QUOTAS

HONGKONG STOCK

Reduction has helped U.S.

NY stock market

EXCHANGE

Dur Own Correspondent.

Busincas done in the Hot kong Stock Exchange this morti- fug amounted to approximately $2,890,000. Neon quotations und the morning's transactions:

Buyers Hellers

$207 £270

Share BANKS

11K Bank..

INSURANCES

Hales

2201475

128 11275 471223

13 9 1275 1441273

Lombard

SHIPPING

Wheelock

240 ปี 240

1000 74 2000.4743

DOCKS, ETC.

K. Whart

Dock

210 107

100

2004 109

Provident 210 211

Tulko: Bock

50 3000

LAND, ETC.

1K at 364, 201;

HK Land..

54 5812

ilumulureys Realty

2004 B

21320.00

1300 21

700 21 20

0005 200

export market

Tho

Washington, Apr. 25.

declines sharply U.S.-Canada plan

New York, Apr, 25.

| The stock market declined sharply on a broad front today.

moderately active.

The market was fairly active;

it declined slurply in the

There was slight Improve ment in the final hour

watch left prices above the lows for

United States Governmont today expressed its pleasure at the reduction and slightly lower at the en

against afternoon trading. in discriminatory quotas dollar exports and said the virtual elimination of such discrimination was expected this year.

A joint statement issued by the State, Commerce and Agriculture Departments sald that the removal of discrimina - 101y quotes against the United States since 1958 had Increas

market for Fed the potential

Western in American Goods Europe alone by an estimated $500 million a year.

" American exporters per-

5550 enty as well is they have

in recent years, they

1200 - 30 106 Fift

233361. 1900 364

100

300 7 4815

2003

fed

1 SA

2470 7.00

24.50 21 10

500

1.00 1.823 000

RUBBER Ambig

7.10

7:30 2000

JUN 1,8

230

102

7.43

I LOUG

Trul

4.00)

Sungala

UTILITIES

Trun

540

..... 311,

Ferry

Star Yosomati

C Light

Elect

106

177 17

23 23.10

8 22 8

7.45

50004207

70000 11

2008 1:.C5

1000...3

PUCK D

50 32

500319,

100 174

1700

22.10

23.10 7.30

27.00 27.70 1503

should

be ablo to enlarge their exports to Western Europe by roughly BEL statement

12 said.

taken by

"Smftar IRSUTES the overseas sterling urea coin- tries, Japan and elsewhere have also improved U.S. prospects in these areas. As U.S. exporters and as their efforts improve overseas markets grow, United States exports will also grow."

Basic reason

The statement said that the hualo reason for the return to conditions of greater freedom in world trade was to be found In the health and vigour of the world economy.

London

stock

prices lower

London, Apr, 25. Gloomy cumlitions prevailed the Stock Exchange

the

duy ba: down hurd.

they were still

BIG LOSSES

Mint losses ranged from

few cents to around two dole

Doughs Aircraft Dow Chemiest

Fa-lery Al Line Eastytis Kodak

Family Finance Corp. Firestone Tyre & Hubber First Nat. lly l Ford Motor

Georgia Pacific

General Dynamics General Electife Ccheral Foods General Menter Gen. Trib. Uul.

Gen. Tel, & Elev

Gen. Tyre & itubber

lara a share, but there were bit-Cetty oil

ger losses among more specula- | Cider Co. five issues.

Trading was

234 Stands Brand

Standad Dit at Cal BIL MOHANI og at ind, 100% Sagakure 01 of NJ.

Steel Cal of Canada 2014, Surfing Drug Co.

Stokely-Van Cup.

Stane Welter

Studebaker-Packard Corp.

40% Huahine Mining

Swift & Co.

1214 Texas

*BJ

Trailers Finance

Tri-East Warrants

Twenthel Century Fox Film

Vata Carbide

Union Oil of Cal

Talon Pecine Rallway

of sea

on law gains supporters

Geneva.

T the law of the sea conference recently the

Anited States Canadian compromise on the breadth of the territorial sea and a contiguous fishing zone seemed to have a greater prospect of mustering the necessary two-thirds majority.

The Indications DTD that, building up their fahing in- 231 when the crucial vole is taken, dustry, ho said that this might sponsors of the take the form of training crema, some of the Afro-Asian proposal (to which 18 supplying equipment, and pro- countries have now subscribed,viding fund Several Afro-

?社

'Textron Inc

Thìskol 11,

246

Tide Water

ARI

The Inc. *****

4312

Most

of the treat Northem Hallway major sectura

Hardest hit Glumen Actor market declined.

three Gulf Oil alries, Hammond Organ

Heyden Newport Corp. nonferrousiram Walker

Goodrich D F Cu. Colycut Tyre

QUER

43:

2017

United Aircraft

United Fruit

171

mited Can Corp.

VS. Full "D"

3711

334

Idaho Power

Homesake Mining Co. Human Refrig

US. Gyprin

1025

1. Le Cn.

184

., RUNCT

and which

*U*

US, Smelling

312

Imperiat Palmen

US Steel

TIM

of the Russian proposal) will

Ingersoll-R

U.S. Stee: 7 P.C. Pr

in certain circumstances sup-

Warner Bros.

4114

puri ike compromiso,

Waukesha Motors

4012

Int'l Business Machines

arvestor

44)

Westinghouse Air Brake

27!

441

Westingham Electric

541

100

Western Union Tel Co,

441

LOG

West Va, Pulp & Paper

shle, vice-chairman

3975

Winn-Dixie Storms

5304

Wentworth (K. W.

Zenith Hodlo

FIL

the slowout with

-UPI,

conference had got

the big steels, were

electronics, motors, rails, utitles. metals, rubler and chemicals.

or 1,228 issues traded, 707 declined. 253 advanced, and 203 were unchanged.

Volume Tose to 2,000,000 shures compared with 2,850,000 shares traded on Friday.

Brokers blamed the fat on discouraging news in some first reports, cul- quarter earnings

of some backs

in production

And appliances. margin of profits in compact cars-AP.

the lower American

Closing Prices

Abitibi Pwr. & Paper Alden Ing. Acy. Algoma Steel Corp. today in the face of per-Allied Chemicals sistent rumours that a now government credit squeeze is imminent.

BUYCTS

were wary In uns cnd excopt for a few bright spots prices teraled lower selling preSTUITO. under mild Industrials were especially de

$ 67

לם

inbund Steel Co. Interchemies Corp.

International Nickel International Paper

Intel & Tel

Jeling-Manville Cu. Kaber Industrie

Kathus C. Power & Light

Kornett Copper

Kimberly Clark

Lube & Mens Tob. Co.

Lykk

Listen Ind.

Lockneesi Alivraft

Loewe Incorp.

Lone Star Criment Co.

Lowenstein. A

Sunz

McDermott J. Ray

MeDunned Adscrit

Merck....

Mesald Iron Corp.

Annesoin Mining

Nen Development

Monsanto Chemical Co.

Motorola Loc

Allis Chalmers Ain. Brake Sh

455

Airline

all

American Cable & Radio Curp American Cyanamid Co. Amer. & Foren. Powe Am. Gus & Electria Ain. Home Prod.

moonry."

163

Montgomery Ward

American Melai Am. Natural Ga American Sinelting Am. Sugar Hef, America Tel & Tel American Tob Ampox Апсолва Coppet Gold shares received Title Armco Steel

and were attention

mainly Armour irregular, easier. Oils were coppers celolively better.-AP.

National Blacuit Co. National Can't Beg. "A

434

bonds

2216

economic re-pressed. The post-war covery and growth of Western 27.70 Europe and Japon

30A

133

27.0

"phenomenal."

2200

27.70

178

27.00

27,00

450 of 27.742

13.86 100 13.00 2004 13.00

2000 500 5.75 190036.75

1083 29.70

lucau E.

13.70 13.00

119

Telephone

361 362

INDUSTRIALS Cement

4312 439

000 43.25 500 of 43.00

STORES. ER. Dairy

WHI Lane

... 2030 28.12

Frase

COTTONS

texle

Naayong

200 44 43.25

1F0432

500 2.00 1000.0 500 20

300 20.10

British Government had been held stendy, but little business

was done,

these could not have been foreseen a de- earle ago," the statement said. "Many factors, including Mar- shal Pian old, have contributed to this But the resourcefulness, imagination and vitality of the peile

essential In- was the gredient for success."

which the vigostr economies have shown

Tho latement +XPRESSCA

burriers- that tari!! hope

now becoming the most

portant obstacles

would be

Closing Prices

Gledged Bands

Dritish Tramunt Cut-11/10.

Consols 23%-40%.

Console 4-CT-11/16 Conversion

CS-3/16

Loan 31.

Asbon Corp.

Atlas Cona ning

In-Lima-Ham. Baltimore & Ohio Bank of Montrat Bank of Nova Scotia Beech Life Savern

D. C. Tol. Co.

19/76/8 Bel Telephone

Feneficial Finance .. Bendix Aviation Corp. Benguet Cons

100010ichent Steel

Boeing Airplane 1059/00-Eurden (Te) Cu.

Burroughs Aid Machine

Sluck . 1090/200km (elit. Pucking Corn.

Funding Loan. 1990/00–£90.

Funding Loan 3%.

481-7/10.

Funding

£3/16.

trade --

reduced

Jurther Larim

Savings 3, 1936/00-04.

Suvanto 50 BUATE1

upened

Bavings, 1900/28-739

BATED

when Jilateral

1700

negotiations

1600 to 20.39

September.

29 60

દિલ ના દુ

+45

20 del

1000 26.40

300 3314

10.40 13 155/5 s 101,

3000

10.46

2000 10 36

14.0 14.93

... 13.03

MISCELLANEOUS

Vibra

INVESTMENTS

Int.

Allied

11.K. FE.

Invest.

Qilman

70 7.93

13.00

214 0:0

por be 0.39 2000 720D

2000 470

son 7.15

the United States would again be negotiating for reductions in foreign tariffs relarn for redaction tariffs.

:10

U.S.

the

"In the coming months United States Government will ....continue its vigorous efforts to bring about the rapid climbin tion of quantitative restrictions s in force and thus to crease the potentiel foreign mu ket for Gited States exports," the statement sald. Reuter,

R.M.S. "HIMALAYA"

EMBARKATION NOTICE

Barclays Bank "A" Lid and–295. Chartered

-60 c

Hongkong 20394... Lloyd's Bank "A"-68% Ed, Union Insurance Carton-25%.

Insurance

ule and MotoFS

Corp. Ord-193 34

British Ford Motor Co-90 7424.

Hawker Bickleley Group AN-20A

Rulls Royco Lk On-433 415. Rootes Lių "A"~~205.

Standard Triumph International-

11. Breweries

Distillers Co- 35 Dd.

South African Brewerton-241

Bud Materiala

Associated Portland Cement-064

in-

42.

Goutam Woll & Leau Drum

34.

United Sirel-User Gel.

For United Kingdom vla Manila, Singapore, Colombo, Aden, Suez-Port Said and Gibraltar,

30,

Cal Klee end Engineering Babcock & Wileex Lid-35 734d

Vickers IAG xu.

Foud and Tulosten

Itti American Tub, Co., Ltd- Bxcl.

Imperial Tubařen

Co.. Lid-028

Miscellanenas

Boarchaan Marden Ltd 111⁄2d. Brit Oxygen ut. Ord-8th ed. Canadian Pacific My-34734d.

De La Rubber C0-249

co, Ltd. Ord-Gay,

Tanion

Cuman Holding Lid-2 ry

Hongkong

China Go-16 Imperial Chemnler-6 36.

Lyons & Co-75.

Unliever Lid-15ia ed.

Paper

(d 1.

Bowater Poper Camp Ord-GLA KI

Cana. Bk, of Comm.

Canadian Pacific 11.

Campbell Soup Co.

Case (1) Co

Cal. Tractor

Celanese Corn.

| C. ET. Finenrint Corp.

Chase Manhat, Bank

Chrysler Motur

Chilett Peabody Colgate-Palmolive co Colombian Carbon Cu. Commercial Credit Consulated Edison

National Dairy Prod.

| National Leal pre National Steel Corp.

New York Central Norma Mines Ltd.

Owen-Brois Cla

Rubber

market

review

Singapore, Apr. 25.

is an elaboration Asian countries and some west

and Commonwealth sald to be

aro

tracted by this den,

A suggestion made earlier by A certain shift of opinion is

Mr Gideon Rafael (Israel) was

ference. It la clear that the

the af

developed by Mr I. A. Quar-Eceptible within the con

"s alwart 12-milera" as Mp Haig Ghana delegation. He criticised (Pakistan) described them, can-

пр command

the which

A two-thirds down

the malgrity, whether under the serious work, but praised

the Afro-Asian pro- United States and Canada for Soviet or their compromiso, which was posal. "the Arst moyo in the right

for direction" Calling

Mr Gudmundsson, the Ice- land Foreign Minister, did not

consultations among delcg-lik the United States-

tlons, he remarked that "there Canadian

is no deadlock yet,"

that the

On the suggestion maritime Powys might offer technical assistanco to the de- In Coastal States veloping

The market ruled very quiet Air-India granted

throughout the morning

with the feature of trad-

ing being premium of wider operation

Washington, Apr. 25.

Eisenhower today approved a Ciril

Board

PRESIDENT

Nurfull & Wester

North Amer. Aviation

Northwest Airlines (Con!

cent which was com-

243

Oklaho Nat. Gas

Olin Mathies

manded by May over June

141

Ot Elevators

408

Rss lower sheets which

100)

have been neglected,

The afternoon was steady with

the broadening tho

national.

$134Oxford l'aper Co.

Paukle Gori de Elec. Pan Amertean Airways 425 Paramount Plotures 44% Parke Dave Co.

Penny . c.

Penn, Salt Co.

Philip Morris

Procter & Gamble Co.

43tney Bowes

241

45% Pittsburgh Plate Glori

Publicker Industries

30% Pulan

adio Corporation

1055 | Pure Oll

Radio Corp. Pret.

haytheon

Republie Steel

Reynolds Meta:

Iteynolds Tobacco

4924 Royal Bank of Caunda

Royal Dutch ......

Stars Hocturk & Co. Shell Of Eve

4717 Safeway stores...

Saint Reg. Paper

4314

12 | Siegler Corp,

opmpromise дру more than Mr Hure did-but Saying for different reasona, that his delegation would vote against it, he added: "We could novo accepted

Furrow territorial sea, provided that Jurisdiction Ashery adequately dealt with,"

was

were

In his view a fundamental fact

being overlocked. The present 17-milo" fishery Bints around Iceland do not at all exclude foreign cherinem from ashing in Icelandlo waters, he said. "The 12-mile Ifmit does not constituto an impenetrable curtain of any order kind for the fish--they can gự operating strie, and do sand most Icelandic waters has in the There was interest in October guthority of Alr-India Inter-of the catch by trawlers

post-war period come from the and December with business at

The CAB granted the Indian area beyond 12 miles from the 5/8 discount.

request that the coast." airline's

Interest in ready No. I's and No. Aeronautica 42 2 bringing out sellers of

123

272%

alter.

In Londen, the rubber market

6 was firm with spot quoted at intermediate points 2217 34-7/10 penec,

301

3014

оть Its

route between India and New | MAXIMUM YIELD In Amsterdam, the rubber | York City Do specified by market was steady today.

country stend of city.

In New York, rex rubber In addition the futures today closed 20 to 43 authorised Air-Indip to

почт

slock was The cod CAB giving almog its maximum Mr Gud- Dove sustainnale yleid,

points higher on sales of 70 con- Frankfurt-Ammain, Instinct of munden declared, and we

tracis.

Short covering in the face of 4 light offerings and firmness In primary markets combined

Dusseldorf, Air-India has been sangat expect in gut any sub- forced to change to Frankfurt antal increase in the total because repent limitations on output. The limits of the lotul made catch, therefore, are just round haye the airport Dusseldorf uncronomie for 707 the corner."

Alr Boeing jet operalitzas.

Referring to Egures given by ocrtinente as amended Mr Hare, the Iceland Minister terest in the market. Apparent- India's

between have tem- provides for servico manufacturers

commented

起

Conswiklated Paper

Consumers Gim

371

Serenley Ing.

Continental Ca

412

Strutt Paper

233% まる

give fatures higher price tags. 5314 However, deniers still complain- ed of the absence of factory in-

Continental Oil of Del

Sinclair On

532%

243 | Smich, Kling & Preseli

531

Crown Zetterbach

Sucony Mobil Oll

Delaware & Hinoy Co,

South Puerto Rico Sugar

Diamond Al

53A%

434

Diamond Gan

Distillers-Seagrams

401k

Crane Co.

Dindalon Stures

יal

Sauthens Co. (The)

Fouthern Natural Gas 201, Southern Itallway (Con)

Sperry Rand

Yesterday's Closing

that they related frat week after

saporarily satiated their appetites India and New York by way of only to the 341% the government stockpile intermediate points in Barcia, the British trawler owners had

Iri

The spot price for No. 1 smoked Syria, Lebanon, Egypt, Italy, decided to withdraw their ves

Czechoslovakia, sels from the entire Icelandic ribbed sheets

was quoted at Switzerland,

England, arca. France, Germany,

The figures, ho

wald, 20% 40% rents a pound.-UPĮ.

Ireland and Iceland, Gander proved absolutely nothing. The und Montreal, Canada,

rept question was how 'much

COMMODITY PRICES

METALS

NEW YORK ··

30.73

88587588

Totul sales: 16,383 bales.

LIVERPOOL

BARS SEE

8pm

rubbar untuled... lanket crepe.......... No. 1 pale trepa yang

LONDON

12116-122 112-114 129-120

The CAB said it was proper they would have caught "Ie to eliminate specific designation they had done the same thing of all the intermediate" cities | that all other foreign nationals except these in Canuda.-AP. did-that is, respect the legiṛto-

German airline

granted new route

He added

The British trawler owners have preferred to have their vessels leave the grounds entire- ly during the bost frhing period of the year, and of their own free will to reduce their catches va to 88 per cent, and they are Biking that before this con- today approved a Civilference da an argument against 2016-2016 Aeronautics

order the Introduction of 12-mile

Closing prices all in pence per Jb.:

No. 1 es pot 304-304%

Bettlement house term!

3516-3592

Liny

July Ort./Dec.

3315-234 Jan/Mat.

General markets, cif. basis, porta:

30.954 May July

3414-35 Eziato erope thit May.. 373

thick May .. an AMSTERDAMI

July

Oel.

Doc.

Mar.

30.07

BAO PAULO

xu.

Radio and Elsetical

Closing prices, all in cents

All unqusteek..

Amociated Electrical-31 6d.

per

Electrical & Musical-4

Fazilah Electric Coy 3d. General Electric-37 d.

Load

May

July

Hotopink Indo-China Stain Nav. Co. def urth-214.

Beams Navigation der on-

Zine May

11.30

July

11.25

(Closing prices all in cruzeiro Apne per kilo) 11.20 11.43 Average price in US, at 14 designated spet markets: 32.11

Copper MAY

31.19

Cunts

July

20.35

EMBARKATION: Passengers should embark between

Alores

9.80 a.m. and 11.00 .m. on Thursday, 28th April, 1960.

Great

per lb.:

101

Buyers Sellers

781

American Contract

May/June

7B81

22.20

No. 2 rubber

170 270's

SAHS:

The ship is expected to sail at noon, Thursday, 28th April, 1960.

2547

22.25

No. 3 rubber

No. 1 cepe

Mar/April

21.00

May/June

2.15

$ 450.

Blixed Contract

BAGGAGE!

Mry/Awis

Oct/Nov.

Dec/Jan

Mar/April

ext.

Tia Dot

3-month

Copper spot

3-month

Ciding prices fall in penca

70%

July/Aug.

Oct/Nov Dec/Jan.

July/Aug

23.10

-UPT.

Closing prices all in guilders

per kilogram, cit. Apr.

No. 1 rubber

3.40 buyers

336 buyers

327 buyers

1.55 buyers

-UIT.

TOREIGN EXCHANGE.

LONDON Closing prices, all in sterling Universal Storem "A"-493 ¦ per lorg ton.:

Spencer Lid-700 H. Markers W. & Co ole ed. Texilien Conta J&P Ltd L Courtauld LA-309.

Woolworth

Cone Gokfields of So.th

Lead 2nd half Apr, Africa-Zine 2nd half Apr.

101%.

Con Zinc Corp, Ord- B Breo def139 $d, Free State Dovelopment & Invest-

Should be sont to the Hongkong & Kowloon Wharf Co.'s Godown (No. Gment- 30. Gate) Navy Street, by 5.00 p.m. 27th April, 1960.

HUBJECT TO ALTERATION

Hongkong T-10% 43%d. Totaling Tin

Tandas T160.

Da.

Southern Hin Cons

Thica Cors-631 1918 -475 5.

West Driefontein dekhiningt-103

Tirilish Bottino Petroleum Byndi. catego

Britaft Funnah Petroicum--20, Dritat Patroleum

Bhril Transport & Trading-1434.

Exchange rates

in the local unelejal

exchangs inarket 11 morning at the mallowing raten:

.8. doll (hor 81) Sterling gotta (por £3) ............ Australian Hales (per Kij Indonunlary sypiah (pre 100) Alam Tick(4 per 1099 Kingapore" (utfälta)

COTTON

NEW YORK

Closing prices all in cents

NEW ORLEANS

Tubbot futures

prieg, all in creats per b.:

40.44; July: 'anda: Sept:

39.36 Nov 8,00; Jan: 38.50; Mari 21.70: MAY: 37.20.

SINGAPORE

Closing pricus ali in Biraltarus vende par lis Rok. Malayan porld: Era Closing price nil in pente No. 1. May 16.0 1200 per lb.

1.90

May

Quich GLENIFFER

Q.P.O. Box 59

Deliverios

MARINE DIESELS

RENECO

Tel. 04401

Co., Lich 041

Baxt

May

-Reuter,

July

Mar.

May

July

Oct.

Ded

Mar

RUBBER

34.10 bom.

3.69

30.74

Hex

30.77

34.30

at 52

34,00

30.90

May:

Jus

No. 2 May

23.15 3701

No. 3 May

No. May

NEW YORK

NEW YORK Closing rates: Canada England sticlal

90-day # 10-days

Aurinia New Zealand

closing

Bouth Afric

Others unchanged.

LONDON

Closing

loo

New York

Mastro

Amsterdam

*.py

2.00-15/16-281-1/10

19-20

1200-191 Par!**

Stockholm 11812-110% {Xfram

VIDEO

2749

1756

Washington, Apr. 25. PRESIDENT

Eisenhower

Board

granting the German girline finery" limpia.""" Lufthansa a route extension

to San Pranelaço.

The airline has been operating World shipping

routes between. Europu

New York and between

Ger-

many and Chicago by way of problems

Montreal and Windsor, Ontario, Contada.

The new route is by way of Shannon, Eira, and Montreal.

The Hogur, Art. 23. XX7ORLD' shipping" "dis-

and operate W pointinal logged

the new route by why

was unsuccessful

Montreal and only requested a behind the favourable de- breader designation in the event valopment of the world's In getting business in general last your, Montreal treme rights from the according to the 1959 répart Clinadian Government—AP.

of the Royal Netherlands Shipowners Association pub- lished here today.

Swedish contract with India railways

Stockholm. CONTRACT between

A the Swedish alectrical

It minted that the problem of marplures of world shipping konito had been overcome to Ariya at more balances Pro- prtiona, "but surplus offering of shipping tappaco continually ingdo Vapit tok

Allhough the world's tenker

|cargo ships.

feels expected to "inorause con- equipment firm Asas and siderably" in the next few years, the Indian railways has there were fewer ordare for drý been signed here.

The Dygrane norvico synod of The Swedish company to tankorg and dry chigo kilin in- supply elamulling devices come eriytod last your on a result of

and 10 electric the strodection of larger and |tro)" igalpmast

transformers for tha miestrifar more modern Visuels, tigʻ report thon of the "Indian reliwny added. This meant en Incrones

1960-04-26 — Page 2

Comments

Private Research Note