1960-05-05 — Page 2

China Mail 德臣西報中國郵報 All

Series Prev Next Source

Pago Z

HONGKONG STOCK

Sharp rises EXCHANGE York stock

Qur Own Correspondent

THE CHINA MAIL, THURSDAY, MAY 5, 1960.

New

market

New York, May 4.

this Stocks rose sharply on all fronts today for the second consecu-

ap-

Business done at the Hong- kong Stock Exchange morning proximately $3,011,000. Noon quotations and the morning's | transaction:

فراد

1.EAS

סאון

(

ever,

tive session.

Trading Called to pick up substantially un the rise, how

again Indicating 1 technical adjustment following the rent downstide rather than any strong rally,

rally could get underway.

Eletronies and miscellaneous

of with a ris

Diamond Gard

DANTE-SVETOON

Douglas Alteraft

Dow Chemieni

Dupont de Nemours

E Par National Gas

American Motors rose

Youngstow EX14 to pace cars. Jumped about two in the steels. The industrials average helped by gminy of around two

1 Du Pont, and around one in Union Carbide, Eastman Kodak,

Maternational Paper and Procter

and Gomble.

General Dynamics General Electric

General Foods

General Molar

Cen. Pub. U11. Gen. Tel. & Elec.

Gen. Tyre & Rubber Gidden Co

Today's volume was 2,070,000 Grumman Aircraft

Guli Ou...

Of a total 1.101 issues traded,

561 were higher and 408 lower.

Amerign exchange

Wus 1,200,000 shares.

Hon volume

$4,830,000.

Dow-Juires closing averages

Imperial Oil....

Imperial Tobares Ingerzcil-Rand

Republic Steej 475% Reynolds Metal

Results Tobacco

Rheem Mig.

234 Thickel Chem.

OVERSEAS LONDON COMPANY REPORTS

↓

New York, May 3. From a purely statisticni standpoint, there is an of world copper producing capacity over current world consump tion,

excess

This was stated by Me C. R. Cox. President of Kennecolt nt the 501 Copper Corporation,

annual shareholders meeting.

the out- He was discussing look for copper this year.

He noted, however, that this 39 did not take into account loses 40% in production that could be economic and political develop-

3744 ments, strikes and possibly ex- treme nationalistic action in some of the world's principai cupper producing areas,

Mr Cox said the outlook for 41 Kennecolt this year was saus-

"We have sold our factory. domestle production through the month of May and reflecting the strong European demand, the entire year's output of our subsidiary has been Chilean

ld Domestic needs for con- sumption and inventory

10 building should require full production of our United States mines

well into the latter months of the year," he added. -China Mail Special,

CLOSES

WEAK

London, May 4. Wall Street's recovery help- ed to halt London's two- day decline in early deal- ings hat by midday a re- newed stream of small selling pushed industrials downside again.

Buyers held to the sidelines are i rash of minus sign marked industrials across the board, Blue chips were by no from the de- means immune

with Traders Uke pression

Chemical Industries, Courtaulds, Vickers and Uni- lever among the loserR. losses were ship.

Imperial

Some

Small businicas was done in

RANSPORTATIO

Faster than sound

jets predicted

for future travel

London.

golds and resulted in a spread LARGE supersonic jets, cruising at more than twice the speed of sound, would cross the Driefontein nearly Ave s-Atlantic from London to New York in about three

of minor risca

with

West

Central Min-

several shillings. hours by 1970, a British aircraft executive predicts.

lings bolter. I put on Diamonds improved but enppers reacted after starting firm.

off

Peter G. The extrutive. Mr Muscfeld, who Is president of

Oils stepped well but the Roya; Aeronauticut Society Injunction to halt

receded later, the leaders show- ing losses by the bell.-UPI.

Closing Prices

Giltedged Bonds

Tellisk Transport 31% 1978/08- 26-3/10.

Consola 244-47-9/10 Consul: 4-11-16/10. Converulon Limited

Toronto, May 4.

Mines

64, Noranda

tu reduce copper plans production if output con- tinues to be excessive, Mr Pre- John R. Bradfield, aldent, told shareholders

Buyers Sellers daica

GOVT. LOANS

357 (1948).

Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Consoldated Exflagn Consolidated Paper Continenta Can Continental O

0012

62% Royal Bank of Canada

of Del.

491

Sears, nouck & Cu.

ARIE

HANKS

Cesints Imperial Milic

Bhell Of Cu

Hi Baks

ΙΣΤΟ

125

1305

1270

Et As...

197

INSURANCES

the rise before

volume Brokers said

to incrense sharply have

any sustained

will

Crown Zellerbuch

Crane C. BARAN

BiSafeway Stores

Sat Keg. Paper

оп

Cuban Amer. Sugar

Scott Paper

Delaware & Hudson Co.

Sinclair 11

Dim Alkali

Sony Mobil Di

Bori

FOL

Solar Alteraft

Soul Puerto Rico Sugar

SHIPPING

Southern Co. (T1)

Asku Nav.

Southern Natural Gas

Wheelock

7.30

7.40

7.40 Issaie

piced Motorola stool

the

ncivance. out In

the

Fantem Air Lane

Southern Raway Comi Sperry an

IKICKS, ETC.

K. Where

204

turmer

Jock

117

120

118

110

Provident

214

24.60

21.60

Than eight point. Jumped more than four.

more Zenith

Eastman Kintak

109

Stanard Be

| Standard Öll of Cal,

Family Finance Corp.

201

Steep Rock ............

Takov. XD.

about

Ford Motor

Firest City Thank First

Tyre & Rubber

334

Sterling Drug Co.

*0%

Stokely-Van Comp

14%

Stone & Webster

nath

Georgia Pacific

Studebaker-Packard Corp.

115

Sunshine Mining

1:12

Swift & Ca

was

109

Texas Co.

441%

Textron Ine.

201

Shat Deck ..

1.46

0215

LAND, ETC.

Tide Water Oil

HK Hotel

sali

01354

Really

39+ Saly 1,74

1.05

Gandrich (B. F.) Co. Goodyear Tyre

Traders Finance

Tri-Cont. Warrante

223

Great Northern Railway

44xd

Twentieth Century Fox Film

2414

Unius Corbkie

HUBER

Uaire Oli of Cal

Analy

1.45

7,65

shares.

Itamunard Orgas

arts

Union Pacific Railway

2011

7,00

Heyden Newport Corp.

174

United Aircraft

Trust.............

1.00 2.10

9.1

ram Walker

3714

United Frust

221

9.15

Huertake Mining

401

United G Corp.

S. Kelantan

21:

Hurunen Refrig

V.3. Foll "B"

Jays-Commof

- 37 oz.

Sungala...

3.00

Volume

Idaho Power

301

1.S. Gypm LIY

U.S. Lite Co.

US. Rubber

UTILITIES

US. Smelting

Tram

331

amounted to Inland Steel Co.

Ú.S. Steel

23%

Interchemical Corp.

U.S. Surel 7 F.C. PF

1419%

Int'l Business Machines

457

Warner Bros.

Star Fetry

183

Int Harvester

4311

Westinghouse Air Bike

Yaumati

181

183

100

International Nickel

Westingdae eotric

181

WCIE

13.2

Industrials

G19.09

Int'l Tel & Tel

International Paper

100%

Western Unton Tel, Co,

West Va. Pulp & Paper

414

C. Li, XD.

*40

23.30

Hall

23.40

Wwities

83.14 Kaler Industries

140.38 Johns-Mmville Co.

331:

Wim-Dixie Slores

500%

the recent

Woulworth (K. W.)

201

Stocks

202.13

Kansas C. Power & Light

Zenith Radio

meeting.

Electric

20 30

24.40

28.90

Kenneco Copper

781%

Bonds

02.03

240.44

Kimberly Clark

Mocau E

Liggett Myers Tob. Ca.

Tel

35%

Lly Tulip

Litton Ind.....

Lockheed Aircraft

HK G:

1440

24%

14 20

Loews Incurd.

Abitibi Pwr. & Paper

$37

14.30

Alden Inc. Acy.

4472

Lone Star Cement Co.

14.40

Algoma Steel Corp.

134

Lowenstein & Sons.

Allied Chemicals

McDermott J. Ray

INDUSTRIALS Cement

McDonnell Aircraft

Allied Mills Inc.

47% 42

407

Merck

All Chalmers

209%

Mesabi Iron Corp.

Am. Brake Shoo

4712

Minneola Mining

American Airline

104%

American Cyanamid Co.

American Cable & Fadlo Corp

Mission Development

Amer, & Torgn. Power

20.70

23.40

Al, Gas & Electric

503

28.90

10022

L. Craw.

301

National Cash Reg. "A

BOAS

Kwong S. .

Natural Dairy Prod.

National Lend

COTTONG

New York Central

22%

Muy wheat which started off

Textile

10.00

Noranda Milnes Ltd,

the day with a gain of a cent

Ampex

3334

81%

Norfolk & West

met profit-taking at the higher;

North Amer. Aviation

201

Nanyang

15.20

Northwest Airlines (Com.)

18%

MISCELLANEOUS

Oklahoma Nat. Cas

Olin Mathieson

day and fell back to within 25% 45% small fractions of

the previous

Gilmann

2.30

240

2.35

181%

-20

INVESTMENTS

Bank of Montreal

62b

0,70

8.70 ok of Nova Scotia

Pan American Always

Allied. XD

6.90

Beech Life Savers

Parsituni Pictures

HK & FE

The initial flurry was linked with sales of about 2 million bushels

Bell Telephone

Inver

13%

15.00

16.00 Tienencial Finance

2532

Parke Dayly Co.

Penny J. C, Co.

119

KK & FE

Bendix Aviation Corp.

Pron Salt Co.

IRL)

Benguel Con

Philip Mortia

Bruchem Steel

Pitney Bowes

3437

Boeing Airplano_

Porter & Gamble Co.

Borden (The) Co.

47%

Pittsburgh Plate Class

BUITO Add Machine

334

Pubucker Inclundries

British Amer. Oil

Pullman

British Columbia Elec.

30%

Pure Onl

30.

224

Radio Corporation

103

Radio Cup, Preč,

351

STORES, ETC

Dully

Wat on

Inver

10:00

เฟ

2010 m. future pries Index

Closing Prices

Aut. Home Prod.

Am. Mach. 4 V dry.

American Metal

Am, Natural Gas

American Smelting Am Sugar Rel. American Tel & To

Amerloan Tob.

Anaconda Copper

Armeo Steel

Armour

Asbestos Corp....

230 Ans Conz, Mining

Inidwa-luna-Starri

Baltimore & On

Exchange rates

Business was done In the unofficial exchange market morning at the following rates; V.5. dollars per $1 Sterling Hotes sper £1 Australian notes iper CD) Indonesian rupiah (per 100 Siames (per 100) Singapore (Straits)

local

Calif. Packing Corp.

Cana. Ek. of Cona. Cana. BrewITTE

this | Campbell Soup Co.

Canadian Pacific R.

4.25 CA (J. I.) Cu. 15.00

Cat, Tractor

12.07 Celanone Corp.

1.50

C. 1. T. Financial Corp. 44.95 Chrysler Motors

1.80 Cluelt Peabody

Malaghs Brewery

Monsanto Chemical Co.

Montecatini

Montgomery Ward'

16314 Motorola Inc.

14 National 731scuit Co

24 National Steci Corp.

לה

Oth Elevators

Owen-Hinols Glass

Oxford Paper Co.

Pacific Gas & Elec.

CHICAGO GRAIN PRICES

219% Grain

3:0

Chicago. May 4. fatores prices generally were mixed io weak in the early afternoon today. There were a few firm spots in wheat

and rye.

Loun 3

1969-

and managing director Bristol Airerli Limited,

WOR

speaking

at the institute transport congress.

He forecast that

1870,

picketing refused

nearly 10 million people would

Now York, May 4.

cross the Atlantie by air, com-NHE U.S. Court of Appeals pared with just over 1,600,000 In 1959

today refused an in-

Mr Mascheld sold that large, junction to halt picketing 130-passenger Jets, which of the United Arab Republic cruised at 550-580 miles per ship Cleopatra.

hour.

now Weld

Inlo Kong service on the world's long-haul nir routes.

£62?

Funding 42-3/16

2017

5% 1063/

Funding Stock

Fixing Loan £0-3/16.

3. 1999/2004--

1900/30-

annual

Savings 31⁄2, 1135/C5 - £ 90-9/16. Sovina, 1960/70--LB-3/10. Savings 3. 1995/75-473-15/0

ord

Mr Bradfield said the need for production outbacks on world-wide basis was clearly indicated. World-copper stocks all probability be would in

levels to adequate restored within the next two months, and If output was excessive, it was contemplated that production from the Home mine would be reduced by about 10 per cent from last year's level. It was expected that similar reductions would be made by Gaspe Copper Mines and Waite Amulet Mines,

China Mail Special.

Montreal, May 4.

range for the third consecutive Net income of the Bell Tele-

73% finish.

to Pakistan, Holland

43% and the United Kingdom

BRIE

word that India will buy four million bushels before the end Domestic activity of the week. was slow.

Old crap corn and soybeans stumped under rather liberal offers to deliver those commodi- ties on May contracts--AP.

phone Company in the Arst quarter of this year, after providing for.fixed shares, amounted to $12,- 259,086, compared with first $11,118,207 in the quarter of 1959.

An announcement by the com- pany said this was equal to 58 cents per share on 21,060,793 shares outstanding against 61 cents on 18,220,550 shares out- standing in the same period last yeur-China Mall Special

SINGFAORE

Yesterday's Closing

COMMODITY PRICES

COTTON

NEW YORK

Closing prices alt in eents per No. 3 May

Spot rubber unbaled Blanket erops

SUGAR

P.O

R.M.S. "CARTHAGE"

EMBARKATION NOTICE

For United Kingdom via Singapore, Penang, Colombo, Bombay, Aden, & Suez-Port Sald,

EMBARKATION: Passengers should embark between 2.30 and 4.00 p.m. on Friday, 6th May, 1900.

BAGGAGE:

The ship is expected to sail at 5.00 p.m. on Friday, 6th May, 1960.

Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 gabe) by 5.00 p.m. on Thursday, 5th May, 1960.

SUBJECT TO ALTERATION

Spel-(CLA. N.V. ex-duty) Total Seas: 74 contrcis, Open Interest: 3332 contracts.-UPI.

BAILS:

Quick

GLENIFFER

Q.P.O. Box 090

Closing prices all in Straits

fo.b.

cents per Lb.

ports:

No. 1

May

Julie

No. 2 May

Malayan

BABUS Barclay's Bank "A" Ltu 03 Jd.

Chartered Bank-- 56. Hongkong CG. Lloyd's Bank "A"-038 3d.

Insurance

Union misurance Carton-5%. Aircraft and Motors Motor Corp

Brille

10d.

Ford Mutor Co-1035.

Grd-141

Hawker Siddeley Group Und-284 44.

Rolls Royce Lid Ord-430 496. Rooles Ltd "A"-116.

Standard Triumph International- 118 11

Breweries

Distillers Co-35.

South African Brewerica-258 00.

Buliding and Materials Aelated Portland

Cenicn027

Goodles Wal Lead Ord-

Coal, Steel and Engineering Babcock Wilcox Lub-35 04. United Sirol-71s 30. Vickers Lut 205 7:54.

Food and Tobacco British American Tob. C. Lid- Dik.

Imperial Tobacco Co., Lid-65#,

Melancon Bontdmar. Marien Lid-45 04 DrHist

Ord-Bly Oxygen Ltd. 10150.

Canadian Pacife Rly-47. De La Rue Co. Ltd. On-2 Dunlop Rubbor Co-258 101d.

men Holding Ltd-154 n. Hongkong & China, Imperial Chentical 4 d. Lvoits&Co-729 d. Unilover Ltd. 1409 41d.

Гарет

Bowater Paper Corp Ord-s 3d.

Radio and Electrical Associated Electrical- Ind.

Shipping

Flectrical & Musical-450 6. English Electric Co-30 General Electric-s 1.

are 227.

39 d.

These would probably last for 10-12 years and then be replaced

the supersonic Jole, with

of 1,320 cruising speeds per hour.

INVESTIGATION

miles

11- "Assuming that further vestigations now in progress du not uncover Any | difficulties, we can expect to be

flying to New York in

has the

The

been picketing carried on by

Seafarers International "Unicu and the International Longshoremen's Asociation to protest the Arab Republic's barring of ports United States ships calling at Israeli ports.

Meanwhile U.S. navy coRCETTI over vital petroleum shipments in the Persian Gulf area cased under semewhat with reports that one American chartered tankar was taking on a cargo of oil at the Persian Gulf port of Bahrelin.

The possibility of major re-

theo

hours or so ten years from now at

economie lares comparable with those of tudy," he said.

He predicted a world demand routing of military shipping for 300 jets of this type by 1970. arcse after the Each would cost about £4,000,- } Republic

started

United Arab

counter-

000 and have an earning capa. boycott of U.S. ships in re- city of about £7,500,000 a year.tallation for the picketing of Mr Masefield midi: "My per- the UAR vessel Cleopatra in New

York harbour. sonal belief is,

nevertheless,

that there is still a much bigger and unsatisfied demand for much loOT cost services alower spoody,"

THAI AIRWAYS COURTESY FLIGHT

A Khartoum, report says the American freighter John Franc lin, boycotted at Port Sald, arrived in Port Sudan yesterday and started to unload.

Port authorities declared they no officiul notice had received to boycott the ship.-AP & UPI.

The last of the Tal Ait Old airport to

ways International court-

esy flights took off from

Kai Tak for Bangkok this be closed

morning, with an inter- national collection journalists

Indo-China Steam Nav. Co. def eight Japanese, two American May 31.

P&O Steam Navigation def ufu

Storca Debenhams, Ord. Ltd443 $0. Great Universal Stores "A" Marks & Spencer Lid-70 140, Woolworth 7. W. & Co-00 10,

34.

Textiles

Coats JP LAG-USA D. Courtaulds Lu-60% 30.

Kines

London, May 4.

-airport,

and reporters DLACKBUSHE from Japan, Taipei and built at the beginning of the Second World War, Is Hongkong. Last night TAI DC6B few to be closed for flying on In from Tokyo and Tajpej with

Chinese and five

newspaper correspondents and reporters,

They were joined, this mor ning by a further group of Ave local newspaper and radio per- sonnlities,

Inquiry into

Cong Guldfields of Smith Africa-Viscount crash

cod $150.

Conv Zine Corp, Ord-74 11⁄2d.

De Beers deľmišta 1015d.

Tin-Ca 4150.

Hongkin-7 9d,

Rond-10 1.

Southern Kinta Cons Ltd-204,

Union Corp-Bla Bil.

Richmond, May 4.

A local tenant's organisation has abandoned its plan to take over the airport as a private concern.

Situated In Hampshire, the airport was near enough to Lon- don to suit the smaller com- mercial flying companies. But it had been lusing £200,000 year and it would have cost more than £2,000,000 to have modernised It.

The air traffic control planı for the London area requires movements at

BRITISH engineer testi-that aircraft

One of the large buildings at West Brieferteln Goldmining-112stics Board kaaring on Wed-Blackbushe to be sold by auc- old will be the nesday that oven with two rion as scrap British Bornea Petroleum Syndi-engines out a Viscount air-United States Navy Hangar

estimated to have cost about liner should be able to main- tain altitudo.

อน

British Buah Petroleum-21. British Petroleum Co., Ltd-020, Durmali-44 d.

Royal Dutch Petrolezm-C141% Shelt Transport & Trading-149%

-Router.

12434-12432

#2116-121%

120-30035

11014-1173

NEW YORK

No. 4 May

113-114

ib.:

Closing prices all in cents per

Spot

34.13 nom.

10:

Contract No. 4 (world)

Alay July

No. pale crepe

1301-1311

170

041 cor.

30.01

LONDON

July

3,00

11 10

Sep.

Mar.

31,63

Closing

prices all, in pence

cafe -60% 10.

Oct

3.10 fas

4.20

July

30.00

per lb.:

Mar.

3.20

May

3.31

Oct.

Spot (PAS, Cuba)

3.30

Dec Mar

Settlerent house teYN: April/June

No. 1 Jan Buat **** 50-37

3014-30%

Total Sales: 33 contrazu.

July/Sept.

3315-3844

Open Interest: 0,145 contracts.

Dei./Dec.

Contract No. G (domestic)

Closing prices all in cents per

Jan./Mar.

3344-337 321-321

July

0.00

Sept.

4,02

31.70

ports:

Any

Nov.

6.00

3.05

July

30,00

Emote crepa

30.07

Thin May

J1.20

thick May

31.86

30.5%

per kilogram, e.t.. Apr.

No. 1 rubber

No. 2 rubber

Na. 3 rubber

METALS.

NEW YORK

Closing prices, all in cents per

ib.t

Lon

May

July

Zina

May

Fary

Copper May

Judo

LONDON

1155

11.337

11.40

11.48

31.00

29.63

Closing prices, all in sierling

Deliveries

per long ton.

MARINE DIESELS

RENECO Tal, 24491

Can yout

3-month

NEW ORLEANS

SAO PAULO

General markets, ci.f. basis,

AMSTERDAM

301-386 3514-3340

37% JO

Closing price all in guilders

Closing prices all in cruzeiro per No. 1 crepa

14.00

63,00

Average price in 0.9. 41 14 des signated spot markéta: 12.10 cents. Total smits: 9,004 bales-UIT.

RUBBER

NEW YORK

Buyers Sellers

PIXI

700,

Copper #pot

191

201

Rex rubber futures cloning prices, all in cents per lb.:

May

41.60

mooth

140

2404

July

49.42

Lod at May

Refl

Nov,

Zine 1st halt May

041

+ Jan,

013

MAT.

May

3.43 buyers

sugar market

New York, May 4.

3.64 buyers World No. 4 sugne futures io- day clored unchanged to ono point higher with sales of 33 contracta.

3.33 buyer

3.10 buyers

-UPL

FÖREIGA EXCHANGE:

LONDON Closing rates: New York Montreal

Amsterdam

Brumela Oppenhagen Frankfurt

59.00 Blockholm

Tharit

言

Mat

28.00

2000

Zurich

*140

2.80 13/16-260 36/ia 2.71 /10-271 11/10 10.00-10.09 150 2116-120.07

11.7075-11,7346 13.70%-13.77 14.00-14.00% 174913-1743

221714412:1755

Domestic No. numar closed unchanged to two points lower with mics of 74 contracto,

Traders continue to mark both contracts they waited developments in the raw market or any other fresh incentiva,

Ume in

Willo

In the outalde mulat, Malin won the accredited biyer of 2,500 tong of refined sugar from Yugoslavh-UPI.

| £250,000-China Mall Special.

at a hearing Protest over 'flags

J. N. Montgomery of Vickers- Armstrong Ltd., the manu- facturer, tested into the causes of a Capital Airlines Viscount which crashed near Holdicraft killing all 40 passengers and four crew members.

on January of convenience'

If two engines on the famo

side bad flamed out, Mont- gomery

said,

Boltimore, May 4. TATIONAL Maritimo

"the aeroplane NUnion pickets, con-

should have continued quite mately" to

(Norfolk) or to

landing place.

destination Finued their protest against alternate "flags of convenience""" ships

Even at a lower altitude, he today but unloading of the Baid the Viscount should have Honduran freighter, Toltec, been able to climb back to 8,000 returned to poratal.

The unloading of the bannna feet,

If the flamcout were calzed boat was slowed on Tuesday by at the United by air in the fuel line feeding the pleketing the enginen on one side of the Fruit Company pier when about retured to plane, he cald It would not be 200 long-choremen

the air als 10 cross the NMU toes. Impossible for

The dispute results entiso a flameout on one of the two remaining engines. He what the union calls the prac sald suck G

aluation could i tice of American firma register- make re-starting dimcult, and Ing ships in foreign countries to that with three enyints out the permit their manning by foreign plme would lone altitude.

Viscount Peter Marsh,

The Tolter Vickery, Honduran training plot for

crown.

Agreed merchant corroborated Montgomery's ten spoicesman

rates

Belgian Franga, maximum deil- Ing 800.

from

00-man

how

A crew,

Union zald the ship formerly was registered In tho timony,

With two engines out. Mardi United States but was trans- said he would have anticipated ferred to Honduras to save pay- Antall but positive rate of meat of higher Wages climb for the airliner,-AP. American saainen.-AP.

1960-05-05 — Page 2

Comments

Private Research Note