Fare
THE CHINA MAIL, TUESDAY, MAY 24, 1960.
PROSPERITY IN MALAYA
London Rural people closes hold key to steady nation's future
London, May 23.
Industrials and blue chips
From GORDON HUNG
Kuala Lumpur, May 22.
put some snap into the The key to Malaya's prosperity, and politi-
stock market today with Investors favouring tex- tiles, steels, engineerings, breweries and stores. Government bonds however, lost up to £4 on further in- flation talk. Foreign bonds were idle.
Bethlehem Steel and Chrysler were fractions lower in a mixed dollar stocks section.
Gold shares and oils finished Armly. Hubbers and teas moved selectively higher.--UPI.
Closing Prices
Glitedged Batida
British Transport 3%, 1078/83-- eav
Consola 25-£45-9/16.
Console -~£20?..
Conversion Loan 315 1000
3% 1959/69--
Funding
1900/90---
cal and economical stability lies with the rural people of this rich but under- developed country.
HONGKONG New York stocks
STOCK EXCHANGE
adent
Business done at the Hong-
kong Stock Exchange this morn-
ing amounted to approximately
the morning's transactions:
Shares
$2,492,000. Noon quotations and
35% (1948)
Buyers Sellers Sale
COVT, LOANS
$3
25
12:50
1250
208
204
BANKS KK Bank
One cannot have a stable, their files and all other aspects East Asia....
government in of their work,
democratie
Malaya without the consent of the Malay
Correspondance,
Wheelock
:
INSURANCES which has
Union, XD peasantry, which been a major source of time-Lombard, XD forms more than 60 per cent, of wasting, is now taboo. Officials SHIPPING And this con- are to contact officers personally waterbast the electorate. sent cannot be won unless the or by phone.
attenrts to Governmen
the
They are also to give land problem of the peasantry's:
applications a positive "Yes" OF DOCKS, ETC. livelihood,
"No" to their requests Instead X. Wharf of the "under consideration" of
Dock
attention" of the Provident
money "Forget the
XX
** **
奶
20.40
TH
suffer setback
in poor trading
New York, May 23.
The stock market suffered its first setback in nine
sessions today on sharply reduced turnover.
Glidden Co. Goodyear Tyre
Grumman Aircraft Gulf Oil...
Selling when it occurred General Motore centred on those stocks used to Gen. Pub, Vt. compile the averages. The best Gen. Tyre & Rubber gains were scored by electronics, Getty Oll leading metals, some tyres and special stocks.
Selling spread: following the report of the American Iron and Steel Institute that steel operations this week are ex- pected to drop to the lowest level for any normal week since
7.90 mid-September, 1958, 7.30
Brokers sald the recent eight-
Hammond Organ
Heyden Newport Corp. Human Refrig.
Idaho. Power
Imperial Cl Ingersoll-Rand Inland Steel Co. Interchemical Corp.
intl Business Machines
day rally left the list ripe for a international Mickel technical barn-around.
In the electronics, Motorola vaulted nearly nine paints, Texas Instruments around seven 2.90 and Beckman and Zenith three Steels last on the or more. steel report. Repubile and US Steel fell more than a point and
7%
128
11B
$18
21.80
22
21.70
aspect raikoo Dock
81%
HDX Hotel ...
414
42%
43
60%
41
60%
时
two
25.30 25.40
24.20
2.075 2,125
In a multi-racial society like Malaya, communal harmony is "receiving essential to the stability of the past. country, but this can never be put on a secure basis if ont when you draw up plans for a section of the community certain project," he told the LAND, ETC.
disproportionate officers. а 31%. 1996/200 receives
share of the national economy. "If money is in your mind your HK Land....
Thus ve come back to the work is bound to be hindered! Malay
Their This must be avoided at peasantry,
oli Realty sndard of living must be cost. raised if there is to be coni- "Let the Government worry. munal harmony in the country, about the money,"
The overall Razak plan has a set-up similar to that which was used to direct the First Emer- gency.
Loan
£B
Funding Stock
208-9/10.
Funding
Loan
49-11/16.
Savings 3%, 1960/70-£-1/16.
Barclay's Bank "A" Lid ord-535
fd.
Savings. 1965/65-£90-7/16.
Savings 3%. 1986/75-2737
Banka
Chartered Bank-535 60.
Hongkong-CRY.
Lloyds Bank "A"-8ts 3d.
Infarance
Union Insurance Canton-£5.
Suicide
one
Industrial expansion is way to prosperity in the country, British Motor Corp. Ord 19, 1dt to leave the Malays out of
Aircraft and Motors
Ford Mctor Co-11 1sd.
Hawker Siddeley Group Ord-31. Rolis Royce Ltd Ord-46. Rootes Lid. "A10 10.
Standard Triumphs International
lis xd.
Breweries
-Distillers Co-Ha $324.
South African Breweries,
Buliding and Materials
BJ.
Goodlars Wall & Lead Ord
xd.
Cosi, Steel and Engineering
Babcock & Wilcox Lid-375.
United Steels d
Vickers Lid-339 78.
this would be political suicide. the Malays into But to push administration ur technical side of industry without the necessary
invite skill would collapse,
economic
com-
Humphreys
Amalg
Electric
Cement
4214 Lukens more than a half,
Nations lead rose around
k
the metals where
મ
Successful year
for Boac's jet
operations in HK
BRITISH Overseas Airways Corporation's re- vende in Hongkong went up by 24.5 per cent during the year ended 31st March 1960-the first Sitwelve months of all-jet operations by the Corpora
tion through, the Colony according to figures released by Mr M. D. Llewellyn, Sales Manager for North East Asia.
1715
Int'l Harvester
20914
Int'l -Tel...k Tel-
·4438
Kaiser Industries
1094
as C. Power & Light
Kennecott Copper Kinkerly Clark
78
laggett & Myers Tob. Co
ly Tulip
791
213
Latton-Ind.
Lockheed Afreratt
Loews Incorp,
The Increase for passenger re- venue was 27% and for cargo 14.9%.
In North East Asia, which in-
5cludes Hongkong, Macao, Tha!-
Pioneer of jets
land, Laos and Cambodia, Viet- christens airliners
24 nam, Taiwan and the Philip- pines, the total passenger and
Lone Star Cement Co.
Lowenstein & Sons.
172
McDermott J. Ray Merck
24
88
Minnesota Mining
2.076 Amoenda and Kaiser Alaminium Membi Iron Corp. 2.12 gained around one,
is
Relstration of International 7 tensions following the postpone 2.10 ment of the Berlin showdown brought some selling into the recently-avoured. defence sues, Boxing dropped nearly two Thinkcol, a maker of rocket fuels more than two and Martin around a, half.
Motors favoured in easter Ford, Chrysler, price, trund General Motors, American and
33-1
Mision Development
Monsanto Chemical Co. Montgomery Ward Motorcia Ine...... National Cast Reg. " National Dairy Prod.
National Lead National Steel Corp.
New York Central Norfolk & Wertem Ry. North Amer. Aviation Northwest Airlines (Com.) Okdama Nat. Ges Ölin Mathieson ou Elevators Owen-linola Glass
Oxford Paper Co. Facie Ges de Elec.
Pan American Airways
cargo revenue went up by 29.7 increase was per cent. The
21% 34.8 per cent for passengers and 223
26%
102
30%
6.5 per cent for cargo.
London, May 23.
NIR Frank Whittle, British
SIR
pioneer of the · fet
new
These increases were achieved engine, christened a despite the fact that the whole KLM ahliner, a DC-8 jet, arca includes only two "on-line" with his own name at Lon- stations, Hongkong and Bangdon Airport.
kok.
Sir Frank had flown in the "This has been our most suc- cessful year ever in Hongkong airliner from Amsterdam on.a and in the area as a whole," Mr special flight to mark the 40th anniversary of KLM's London- Llewellyn commented.
"The main reason for these] Amsterdam service the oldest the world to be operated highly satisfactory result is the in outstanding popularity of our continuously by the same, com- Comet 4 jetliner which serves 20 pany.
of Asia and Europe centres 42% directly from Hongkong."
INCREASE
2.10
7.70
7.90
9.00 $.15
3.25 3.50
5.40 15,80
3.70
324433
180
176 178.
324 375
177
178
23.10 23.20
430 23.10
2320 Studebaker gave up tractions.
$8.80 28.00
29.80
Closing Prices
Paramount Pictures
Purke Davis Co.
28.90
Alden Inc. Acy.
48%
Penny, J. C. Co.
28.70
Allied Chemicals
313%
Penn. Salt Co.
Philip Morris
3014 2015
Allied Mills Inc.
1380 13.90
13.90
All Chabners
30
Pitney Bowes
Procter & Gamble Co.
104
Am. Brake Shoe
<1%
American Airline
191
Pittsburgh Plate Glaser
53
54
American Cable & Radio Corp
9%
Pubilcker Industries
American Cyacamid Co.
552
ma
$34
Amer. & Forgn. Power
B
Pure Oll
Am. Home Prod
179
Radio Corporation
29.10
29.20
Am Bach & I'dry,
83Radlo Corp. Pret.
41
41 41%
3.50 6.25
Tel
87
3811⁄2
American Tob.
53% Badeway. Stores
38
104
Aimpex
354 Baine pg. Paper
r
Anaconda Copper
60% Schenkey” Inc.
2414
Armeo Sleel
63
Scott Paper
25%
11
11.10
10.90
Armout k
321
Blegler Earp.
ап forward to
11
Atar Ocna. Mining
5V
11.30
Baltimore & Onio
3434
Sinclair Oil...........
SBIL
Smith, Kline & French
25.80
15.90
15.84
Beech Life Savers
341
Socony Mobil Oll
15.90
BC. Tel. Co.
44
Southern Natuņi. Gas.
38%
MISCELLANEXUS
Benguet Co08.
4 Standard Brands..
Betlicher Steel
4631⁄2
Standard Oil of Cal
Glimans INVESTMENTS
2.15
214
Borden (The) Co.
Burroughs Add Machine
Standard Oil of Ind.
38%
Standard Oil of NJ.
Calif. Packing Corp.
Frt.
8.25
9
6.90
Canadian Pacific R
28
Allied
B
6.70
8,60
Cat. Tractor
21
Celanese: CurD:
245
C. L. Z. Financial Corp.
Chahe Mahat: Bank
590b
RUBBER Trust 3. Kelantan,
XD Java-Consol. Sungala At national level there is a national rural
development UTILITIES council and a rural development Tram. executive committee.
Star Ferry Each state has its rural de- | Yaumati velopment and executive mittees. For the districts there C. Light.... are district. rural development These adills are now incon-executive committees.
There are two classes of set- Associated Portland Cement-centestably lacking and the only
way to enable the Malays to tlers those with no land at all acquire them is to raise the and those who have land but Telephone
is less than an economie 11K Cas which level of Malay education..
Contemporary opinion INDUSTRIALS holding. But so long as poverty saps is that eight acres is "economic." the mental slamina of the And there are to be two types kampong (village) boy and robe of
About 3,000 STORES, ETC. settlements. the
will be es- Dairy settlements
for the landless. necessary for proper applicatablished tion to his studless, it is un Smaller areas will be grouped likely that the Malay student around existing kampongs to Lane, Craw will ever compete successfully supplement present non-econo- strotres with his non-Maky counterpart, mic holdings. Initial crops and Empori
50 we come back once again plants will be supplied by the Kwong S. II.
the need to raise rural government,
The Government, will build Textiles Because the Malay peasant, road, install electricity, water
decisive and other normal services. But Nanyang by virtue of his political power, sits in ultimate those benefiting will have to judgment upon all things and pay for these when their lands because nothing can endure of brings them economic returns.
and which he disapproves nothing can come confidently into being which he does not ratify, we find that all political to the Malay roads lead kampong.
Food and Tobacco British American Teh. Co., 00% ed.
9d.
Lidhim
Imperial Tobacco Co. Ltd-
Miscellaneous
Boardman Harden Lid-4s 6d.
British Dxygen Ltd. Ord-als 3d.
Canadian Padite MyM6!
De La Rue Co. Tad, Drd-65 3d.
Dunlop Rubber Co-2 ed.
Gilman Holding Ltd-
ed
to
Hongkong & China Ges-10s ad a. living standarris,
Imperiol Chemical-60s 1020.
Lyrng & Co-749.
Unilever id-148m.
Paper
Bowater Paper Corp Ord-705. Radio and Electrical Associated. Electrical-15s vd. Electrical & Musical-49 3d. glish Electre Co-39% 30. General Electric-881.
Shipping
Stem Nav, Co. det Indo-China ord-243 3d.
P&O Steam Navigation def ord- Je kt.
Stores
Great Universal Stores "A"409, Marks & Spencer Lid-714 3d xd. Woolworth F. W & Co-18 3d. Textiles
chy.ronment
Breeding ground And because of this political power, the poor Málay peasantry Cnate J & P Lia-3s 10d xd. is fertile breeding ground for Courtaulds 135 140.
Communism. Now that Com- Miner Core Goldhelds of South Africa-munism has been beaten on the banned 01 d.
open battlefield,, the Malayan Communist Party is re- sorting to subversion in the hope that what they could not accomplish by armed terrorist methods they can achieve by democratic means.
Con, Zine. Coro. Ont-951 3d. De Beers del—143a 4320. Honkong Tin-7 let. Petaling 88.
Hand Sc
Southern Kine Cons Ltd- 30. Ting —§1= {xt.
West Driefontein Goldmtning-82s 101 d.
011
And once more we come to
Kuc
The campaign Special emphasis is placed on schools, health centres and play- ing fletds to be sited close to the new kampongs.
1std
There are big plans for rural processing
marketing facilities for the produce grown on these new settimente
Tun Razak's military-style campaign aims at:-
total
• Reacttling 350,000 families through- out the country;
of
Checking unemployment in rural areas; and Preventing a drift from the country to the over- crowded towris,
One of the reasons why the British Borneo Petroleum Syndi-raising the living standards of Malay peasantry is so poor is the kampong people, who if they that In many cases the peasant had fuller belites, better pros-] has to rent the land;, he has to
CRfDating and
Beli Rumah Petroleum.....? British Daimlerum Co. 114-
-Rerier.
Watson
COTTONS
Exchange rates
Business was done in omcial exchange market this ing at the following rates: US dollars (per $1) Sterling notes (per £1) | Australian notes iper 211
Indesian rupiah (per (100) Siam ticals (per 1001 Singapore (Straits)
2010 American Metal
29.30 | | Am. Makumal-Gas; •
the un-
America Smetting
Art, Sugar Re
American Tel &
Cloyster Moto
Chuett Peabody Colgate-Palmolive Co. Commercial-. Credit Consolidated Edison Continental Can
mork-Continental Oil of Del
Crane Co jabe 5.75 Crown Zellerbach 15.93 | Cuban Amer. Sugar 12.68 Delaware & Hudson Co.
1.7B Diamond Alkali
25,85
morKI Grá
1.80 Distillers-Beng parstar
Agreed merchant rates
Dow Chemical Dupont de Nemours Easter Air Line
Design Kodal El Paso Natural Ga Family Fance Corp. First Nat. City Bank Ford Motor AM Georgia Pacific W. German Deutschemarks, general Electric
General Dynamics General Foods
Povel Thi Perlum ini pects for education-and-a-future sell his harvest-to-a-middle maximum selling 722. Shek Transport & Trading-14 to look forward to, would not be man; and with sickness or interested-as would a dis- deaths he is always in debt as gruntled peasantry-in such a he rarely has any money. The revolutionary change in Malaya only time he is likely to have as Communism would bring.
some money is after the harvust period
Chicago grain market
2013
on
the
The top priority in the Government's second Five Now under the Razak pap Year Plan, which will end in the peasants will get a chance 1965, is rural upliftment or to raise their own living stan better known! 36 the Second dards have their own land, Frergency-the Arst being the dispense with the midde man, fight against the Communist send their children to school, terrorists.
have medical care and save
money.
are
on
Yesterday's Closing
23% Raytheon
50% Republic Steel
Reynolds Metal
262 Reynolds Tobacco Royal Dutch
33% Steel Co. of Canada
Sterling Drug Co.
Stokely-Van Camp.
Bone & Webster
53% Stucktaker-Packard Corp.
Bunshine Mining
Swift & Co.
55 Texas Co
3534
271 Textron. Exc.
5914 Tokal Chem
6234 6 Waber C
42 TL-COM. Warrants
45 Turndeth Century Fox Film
Union Carbide
4974
44
Union Oil of Cal.
153 Union Pacific Railway
244 United Alert
5.9. "B"
31
U.S. Gypsum
30 US. Rubber.
90% US. Smelting
U.S. Beel
24U.S. Steel FC PT
Warner Bros.
Waukesha MOLOTS
284 Westinghouse Air Brake
Westinghours Eletric
784
West V. Pulp & Paper Win-Dide Stores
44% Woolworth(KW)
Zeth Rails
COMMODITY PRICES
METALS
The Government gigantic Chlenga, May 23.
back-to-the-land move is the
But how far will the plan Grain Futures declined under
smbitious scheme of the deputy succeed with the peasantry? The the Leadership of soybeans Prime Minister, Tum Abdul Malays
well-known, and
today
Razak bin Hussein who is also especially the peasants, for Chicago Board of Trade,
"satisfied" attitude Minister for Rural Develop their
tow Heavier
receipts, ment cash
wards life. If one day's work will be enough to bring in three days food, they usually take a see this holiday until food runs out.
Labourdblu weather reports "We ramot afford failure," and a slow export trade brought he said. selling into the market today.
In soybeans,
April crushings Development plans
were smaller than had been
expected 22
ما
To succeed, the Government will not only have push their His giant blueprint cuts red-own men but will have to instill Etape to the bone-in gotne Wheat futures met
pirit of bettering themselves and pressure from elevator houses of land to the landless is three them realise that they are and look) traders Prices were years old and
for working for their own benellt,
selling States application for allocation the peasants, the make
funds
steady at the close. July and Kampong development are uri. It they don't this gigantic
September contracts were imiten lack of money hav Kurel upliftment plan will fail, changed at 215 cents difference. held up many rural develop.
Flour trade was also slow.
Soybeang
under
weakened
weak Expm
ment plans.
In a "no-heating-around-the by-busty talk to rural officer's he and commission self-mid the Government, was, only, -was light-UPI. Interested in results and not in
Moline & Industrial
COVENTRY
VICTOR
NY sugar market
ANEM YORK, May 23, World No. 4 sugar futures to- "my-closed one point love
one point higher with sales of 208 contracts
Domestic No. 6 sugar cloma two to three points higher withr males of 804 Contrac
* Routine deplin
zeen
No.: 2-June
No. 3 June No, &: Jíne
Bpot rubber unbaled
19542-12814 1251-1251 110-119
NEW ORLEANS
Since Boac introduced the jet- age to the Far East in April 1959 more
than 25,000 passengers have travelled on Boac jet ser- vices from Hongkong to world 75 wide destinations. 3714xd
Figures for the carriage of 44 a1small up to last January showed 574% that the
Corporation had
The DC-8, not normally used i In this service, did the trip in 38 minutes, compared with the 140 minutes taken by the open cockpit two-passenger aircraft which inaugurated the service. flying in the opposite direction on May 17, 1920.
The pilot of that Arst flight from London to Amsterdam, Mr H. "Jerry" Shaw, was among the passengers in the jetliner today, with airline officials, British and Dutch journalists and other in vited guests.
achieved an increase of 60 per
The aircatat takes 63 tourista- cent for Hongkong and 48.9 per
and 27 first-class passerigens, 196 cent for the area as a whole.
ETC Looking "We in Boac
In the early days of the even more service, the two passengers in successful year in 1980-61," Mr the single-engined aircraft were
5614 Llewellyn added.
Today forward
bookingsupplied by the airling with a both castbound and westbound,-water bottle and a leather
coat. are higher than they have ever In the first year, total beery before...
travelling time, varied between This autumn we shall be 140 minutes and 40 hours,
third weekly Viscounts now do the fight in introducing
Mald minutes. Chin Britannia jet-prop service from 70 Hongkong across the Pactic Special
States and
432
14
5% 10
30
27
3775
A
the Unilted London; later we shall introduce
our new Roll-Royce
Linery on this route.
“During
707 jet-
the fortbooming Lloyd's celebrate
twelve months we shall also be
reaping the benefits an Far 200th anniversary
Eastern routes of our new
partnership with
Air India
International and Qantas Emi-
1044 pire Airwaya,"
87
304
1401%
1081
Nice airport to
be extended
Nice, May 23.
London, May 23. LOYD'S Register of Ship-
Lping, oldest and largest
ship classification society in the world, has celebrated its 200th anniversary witho banquet the Guildhall, London.
Earlier the Duke of Edin burgh Queen Nizabeth's
A DOUGLAS DC-8 jet dit hustard, nor for
committee of
the
liner of Pan-American as an honorary member of the Airways landed at Nice of general
Register port today for the first time, the Duke, first honorary after a test flight from New member ever to sit on
York
commitee, was elected
PAA will begin register ser- April, 28. vice with DC-8s on June 1. Guests
The presentaiestelp is inclured Mr adequate for such jet fights Britain's Minister of only if the airorat has a port, representatives
at
Ernest
Closing prices all in cents per restricted load, but it is being foreign and Cormor
extended by more than 100 governments, Mr W. A. Fox, yards to accommodate tilly New Zealand's Minister of
"and leading ship loaded non-stop fights between Marine,
and owners, shipbuilders underwriters from many parts of the world an
Blanket, crepe.
No. 1 pale crepe izle
1301-1314 116-118 13335-28042
Spot Judy
31:00
LONDON
3145
NEW YORK; Closing prices,
Closing prices all in pence per ib.:
Dec.
New York and Nice-AFP,
Mar
31.03
31.93-
all in centa No. 1 Has, potmayanga your 40-401%
Settlement house teraz
July
31.88
Ogl
31.30
Dec.
Lead MAY July Zine May July Copper May July
1770
Oct/Der.
23:40
Jan/Mere
1180
J LETVE
July
11.60-July/Sept. Zoya
$37
30.46
LONDON... Closing prices, all in sterling per long ion.
Tin
Epot
-month
Copper Spot.
3-month Lead 2nd halt May
Zine and half bday
Aug
اه که هر یا
General markets, c.i.f. bašis, portá:
Estate crepe this June 20
*thick" "Juno"
AMSTERDAM
Closing prices all in guliders
Buyers Bellers per idlogom, off JUDG
7411 No. 1 rubber
763
78
78
No. 2 rubber
No
rubber
ior No. 1 trepe
RUBBER
3.37 Husfore
3.79 buyers
NEW YORK Closing prices all in cents per
POWERLY ENCHANGI
Closing enter
South Attom: 47% Others;
Vertical take-off
planes for Nato
London, May 23.
TALKS were
Between Brito
constriction of
tical take-off British Minister Avlation, Mr Dünco told the Houte of CommonE
today.
Such an aircraft, Mr Sandys confirmed was intended to ful 11: the needs of Nato. Its main advantage was that I could operate from any ground and would thus be particularly mo bile and easy to hide,
He added that Canada, the only Commonwes.th-country which was also member Nate, had beta Lot Informat
Lloyd's Reglar, of Shippi with which more than cent of the effeclivi merchant feat is di Including 68 per cent British feet originatext
18th
owned
Century
[house
Lord.
driven by
No comments yet.
Private notes are available after approval.