1960-06-30 — Page 2

Pare 2

THE CHINA MAIL THURSDAY, JUNE 30, 1960,

WALL STREET DECLINE BROUGHT TO A HALT

The

New York, June 29,

stock market. brought its two-day price slide to an abrupt half today, closing on a generally firm noté.

Anaconda Copper

Buying gathered momentum í Ampéx during the third hour after the liht spent most of the merning on either seesawing narrowly

side of the previous close.

Steel issues, first to benefit from the boying spurt, faltered in the later dealings to fish well below their highs, special stocks stood out with gains of around 15 points in Sweets Co. of America and around live in Paramount Pictures.

Blue chip industrials also were strong along with electronics and some rails.

Today's volume was 3,160,000 shares...

Of a sotal 1.211 Issues traded, 490 were higher and 486 lower, Dow-Jones closing averages

were:

30 Industrials

20 rafla

15 utilities

05 stocks

40 'brids

Comm. future price index

Closing Prices

Arinco Steel

Armour Asbestos Corp Atlas Cara Mining Batwin-Line-Ham Baltimore & Ohio Bank of Montreal Bank of Nova Secule Beech Life Savers Belt Telephone Beneficial Finance Bendix Aviation Corp Benguet Cons Bethlehem Steel Boeing Airplane Borden (The) Co Burroughs Add Machine Calif. Packing Corp. Cana. Ek of Comm. Campbell Soup Cr. Canadian Pacific R. Case (1) C Cat. Tractor

Celanese Corp.

C. I. T. Financial Corp. Chase Manhat, Bank

638.39 Chrysler Motors 142.62 Cluett Peabody ..

93.37 Colgate-Palmolive Co. 210.54 Colombian Carbor CA,

82.78 Commercial Credit

Dominion Stores

Douglas Alreraft

Dow Chemical

Abitibi Pwr. & Paper

Alden Inc. Any

Algoma Steel Corp

Allied Chemicals

Allis Chalmers

Am. Brake Shoe

41

American Airline

2034

American Cable & Radio Corp

American Cyanamid Co

51

Dupont de Nemours

Amer. & Forgn. Power

07

Eastern Air Line

Am. Gas & Electric

56

Eastman Kodak

Am. Home Prod

185

Am. Mach.

dry

GT

American Metal

$8

Am. Natural Gas

6

#7

89

American Smelting

A. Sugar Ret

American Tel & Tel

American Tob

Pazó Natura! Cas

Family Paance Corp.

Firstone Tyne & Rubber

First Not. City Bank

5111 Ford Motor Co. of Cana

Ford Motor

Gécagia Packle

Si General Dynamics

Britain's balance of payments surplus

Ganeral Electric

General Foods

Goodrich 13. F. Co.

Goodyear Tyre

Great Northern Railway

Grimm APMYOM

Gulf Oil

Hammond Organ

Homertake Mining Co.

Hayden Newport Corp.

63% International Nickel

3136 | Foternational Paper

Int'l TW & TE

Johns Manville Co

Kaiser Inchustries

Kansas C. Power & Light

53% | Kennecoli Coppér

Kimberly Clark ........

Lockheed Aircraft

STOCK

HONGKONG London advances

slightly on selective buying

EXCHANGE

L

Our Own Corte spund ot

Business done at the Hong- kong Stock Exchange Thit morning

amounted

444 proximately $2,283,000.

transactions:

10 30-

Noon

London, June 29,

quotations and the morning's Small scale selective buying gave stocks a modest but broadly based advance with most blue chips lacking of gains. Mming issuer went thead on better news from the Cape:

41

Int'l Business Machines

48

Int'l Harvester

100'

22

43

6

61

14

Shares Buyers Sellers Saler

37

B3 BANKS

HK Banks.

1198 110

201 120

37

39

44

Liggett & Myers Tob. Co. Lily Tulip

80

INSURANCES

50%

Uniun

02

30

Lombard

2512

29

SHUFFING

Waterboat

*

2314

Wheelock

7.00

7.75 100367.10

DOCKS, ETC.

Mesobi Iron Corp.

74

K. Wharf

Mission Development Morro Chemileal Co. Montecatini

10%

Dock

115

44th

15 Montgomery Ward

110 20 @ 113 577 313 450 110 500 23.40

Taikoo

Montorola Inc.

149

National Biscuit Co

541%

LAND, ETC.

6314 Loews Incorp.

1 Lone Star Cement Co.

· 4636 | Lowenstein & Sons

23 Modermell J. Ray

49% McDonell Aircraft

371% Merck

34

53 Nations Cash Reg "A"

581 National Dairy Prod.

SNational Lead

434 Norando Mines Lt

Owen-mois Gla

Oxford Paper Co.

3014 Pan American Airways

8815 Philip Morris

200

Pitney Bowes

274 Procter & Gamble Co.

1:23

Publicker Industries

34 Pure Oil

291 Radio Corporation

J4Radio Corp. Pref.

Raytheon

Repubile Stoel

ૐ

Provident 2130 2133 800 or 561

WARN

فزار ما

a

Industrials

with ended spread of plus marks through steels, engineerings, electricals, stores, texiles and breweries but shippings stayed out of favour.

Government bohds moved against the trend, sustaining fractional losses by the final bell.

Dollar stocks receded in step with Wall Street's overdight showing. In the foreign section

5854203 Hotel 432 4216 3000 641Japanese bonds stayed firm, but

5000 ₫ 41% 1500 4:2 68 5814

2000 59 24.57 239 2470 19 184 13000 4 18% SC0012% 10000n 189

,601

29/014

381

1000 30% 2280 381

Greeks tended to ease.

Gold mining issues continued on the uptrick helped by the outlook for the ending of the emergency ir. South Afric

Coppers share this glow but tins ran into phofit-taking and closed regular. Diamonds

went ahead.

marked showed

Ninoy movements but the leaders minor gains on the day,

Teas were mixed and rubbers steady-UPI.

Closing Prices

Giltedged Bonds

Tratport 3% 19/

— £43+13/16,

-£609%.

Conversion Louri 316011~

7:697

1959/6-

Loan Funding

2 2801

Funding Stock 34%, 1993/2004- LOL

1380ydo--

Loss

Savbar 3. 1983/05-

Savings 3%, 1960/70-785

Savings 34, 1965/75-27197

Banks

Barclay's Banke * Ltd offe

556.

Chartered Ban-30 94.

55

National Steel Corp.

39

New York Central

2X Land

.

物

Norfolk & Western Ry.

98%

145 35

Consolidated Ediser Continental Çan

03

North Amer. Aviation

37

Northwest Airlines (Com.)

13 M

unphreys Realty

Continental Oil of Del

475 Oklahan Nat, Gas

22%

Crown Zellerbach

4 On Mathiesors

51

Cuban Amer. Sugar

144201 Elevators

3122

Delaware & Hudson Co.

25

RUBBER Annig.

7.06

Diamond Alka!!

2814

Diamond Gard

39

Pacific Gas & Bec

64

1000 @ 7.06 5000 7.10 5000 7.15

Distillers Seagrams

191

4000 7.15

54 Parke Davis Co.

4734 Trust

8.45

1000,40

aila

253 Penn. Salt Co.

1030 » 0.45

1153 TILITIES

Tram ****

319 3214

Bier Ferry.

171

Yamati

182

183

British

135

06

Reynolds Motal

C. Light... 22.00 22.90

21.40

200.

21.60

Console

683

Reynolds Tobacco

211

Consols

42

Royal Bank of Canada

21.00

92

Royal Dutch

Eléctric

2000 69 28,80

1230

Rheem Mig.

General Motors

442 Ser Robbuck & Co.

Telephone

Gen. Pub, Util.

23

Shell 011 c.

Gen. Tyre & Rubber

AT

Safeway Stores

Gelty O

19

Saint Reg. Papor

Glidden Cr.....

434 Schenley Inc.

53th Scott Paper

2012 Slegter Corp.

NK Gas

14.00 14.70 2000 & 14,00

1000 38-4 10003814 0 2016

Funding

£873.

401

Sinclair of

38%

€24.00.

301%

Smith, Kline & French

16.80

Socory Mobil öll

3T4

Solar Araft

244

"ka 14.70 700 14.70 @14.70

2145

South Puerto Rico Sugar

10

334 Sperry Rand

Southern Railway (Com.)

47

INDUSTRIALs

2412

Cement

54 5414

Standard Branda

47

STORES, ETC.

Dalty

... 29.10 2920

500

T

Watson

20.10

474 Stokely-Van Camp

Lu. Craw

43 435

200 নে426

Stone & Webster

Studebaker-Packard Carp

84

2000 43% 300-43

Sunshine Mining

5%

Swift & Co

44

2014 Nanyang

COTTONS 75% Textiles,

40%

Tri-Cont. Warrants

Union Carbide

153

MISCELLANEOUS

Union Oll of Cal

39%

Vibra

... 14.30

Union Pacille Railway

27:1

United Aircraft

38

INVESTMENTS

United Fruit

United Gas Corp

301

int. Allied

6.13

1000 8.70

0.10

1000 @ 0:15

U.S. FollB"

44 HK & PE

U.S. Gypsum

113

14.10

US. Line Co

263%

5472

market

30

805

U.S. Steel 7 P.C. PF Warner Bros Waukesha Motors Westinghouse Air Brake

1407

4574

287

unofficial

exchange

market this

Westinghouse Electrie Western Union Tel. Co

501,

morning at the following rates:

457%

fair

West Va. Pulp & Paper Winn-Dixie Starès Woolworth (K. W.) Zenith Radio

US dollars (per 1)

5.72

370

Sterling notes (per eni

16.6L

50

Australian notes (per £1)

12.61

717%

Indonesian rupiah

(per 100)

2.30

124

Siam teals (per 100)

26.09

-UPI.

Singapore Straits)

1.50

London, June 29.

Idaho Power

Dipertal On

Imperist Tobiced Lagersoll-Rod

Inland Steel Co.

Britains balance of pay- Interchemical Corp.

ments on visible trade showed a surplus of £3 million during the first three months of this year, according to provisional estimates issued by the Treasury here today.

This compares with a defeit of 17 million In the last quarter of 1959, and a deficit of the same amount in the first quarter of last year.

Payments for imports rose by £108 million to £973 million

the Arsi sterling between

the Arst quarter of 1959 and

quarter of this year.

from

exports

£128

Rubber

market review

S Standard On of Cal

119% Standard Oil of Ind. Standard O of NJ.

44

Singapore, June 29, Overseas advices were much as

expected and the opened hesitant.

'As sellers became moré per sistent the market became weak and the afternoon market was relatively quiet.

Interest in lowers were with enquiries 'mainly for throès.

But recepis and re-exports rose by million to £976 million. TSUI *** CHEE ***+ MAN The change in the external monetary position was favour- able to the extent of £22 mil- lion compared with an improve ment of £54 million sterling in the first quarter 1959.

The market was easier There was an increase of -£16 million in the gold reserves flecting withdrawal of buyers in together with a fall of £32 July.

The market closed quiet, In New York, rex rubber futures closed today unchanged to 81 points lower with bales of 99 contracta.

re

million in the overseas sterling In London, the rubber markel holdings, partly offset by a was barely steady with spot adverse movement of £26 mil-quoted at 36% pence. lion in other monetary morje. Į In Amsterdam, the rubber ments.-Reuter.

market was calm today-UPI.

Steep Rock

Texas Co

Textron Ine

Thiokol Chem

Time Inc

US. Rubber

U.S. Smelting U.S. Steel

Yesterday's Closing

.

29.10

200 @ 29,10

10.BG 10.90 200

Exchange rates

Business was done in the local

Hongsong-2001 SEL

Llyod's Bank “A”-50% 9.

Insuran.de

Union Insurance Canion-25%.

Aircraft and Motors

Paper

Euwater Paper Corp Ord-592, Radio and Electrical Associated Electrical-32 Bd. Electrical & Musical-485. Bd. English Electric Co-3 d. General Electric-35.3.

Shipping Indo-China Steam Nay. Co. det and 225 30.

s

P&O Steam Navigation def ord-

Stores Great Universal Stocer "A"--475

ಕತೆ. '

Marks & Spencer Lid-74s 2d. Textiles

Coals J&P Li-47% 44%d. Coumulder LM-679 10d.

Cons Goldfields of South Atheat 6% 4150.

Cons, Zine Corp Oidhrea De Beers del 1494 4'd cor Hongkong Tin-ilated. Petaling Tin-79 91. Rand1s 3d. Southern Kinta Cons Ltd-285 de Union Corp-33% 140 West Driefontein Goldmining-sz ed.

110

British Borneo Petroleum Syndi cates. 1011d.

British Burmah Petroleums of

British P Co., Ltd-518. Royal Dutch Petroleum-£13-11/18.

Shell

pd.,

Successful first flight of new Avro jet

Chester, June 29. THE AVRO 748 airliner-which its makers claimi THE

will have the phenomenally low operating cost of Id. a passenger mile-has made its first flight from a Cheshire airfield.

ford Barley 17 the Hawker decided to go project.

months after Siddeley group ahead with the

The twin-engine turbo-prop It is due to begin opérations aircraft took off from Wood with two Eritish airlines in time to meet the 1981 summer holl- day peak.

The airlines are skyways, and BKS Air Transport,

powered The new aircraft, by two Rolls-Royce Dart en- gines, is expected to make pos- sible new low-cost travel be-

any,

This is a record for British aircraft or its size.

The AVRO 748, seating 40 to 48 passengers, is to replace

*

the Indian Air Force's Dakot feet. It will be built at now factory at Kanpur, India, an agreement between the makers and the Indian government,

Transport & Trading 1431 under

-Reuter.

NEW YORK COTTON MARKET

New York, June 29.

Find Motor Conference Cotton futures today crept

Ford Co--109%. epr. Her

23s 714d.

Siddeley Group. Ord-

Rolls Royce Ltd Ord-45a 30. Rootes Ltd "A"--10s 9d.

Standard Triumph International- 9990:

Athwerles

Durduere.Com Id

od.

Goodtass Wall & Lead

ahead gradually

in

A later version, the serles II

has been ordered for Adén Air- ways.

The AVRO 748 is planned to

give the highest possible economy on short stage flights of 200 to 400 miles, combined with a very low initial cost- £170,000,

Empty shipyard berths in UK

London, Jurie 29.

tween Britain and the Con- tinent.

The AVRO 748 was flown by Mr Jimmy Harrison, the com pany's chief test pilot, during the fist fight of two hours and

45

minutes over north-east England.

+

Mr Harrison later saidh "It was magnificent, A jolly good" ride. We got through a lot of work."-China Mall Special. 4

Hovercraft with a

sportscar engine

Bembridge, Isle of Wight. FESTS of a new British dir- I caihion craft which

AT the end of March some runs on a sports car engine 80 Berthis ŵeré váčant | ond twin propellort will start another moderately active in British shipyards exclud- 100n,

ing those under re-construc- session.

The vehicle, known as Finishing around the day's tion or permanently closed cushioned, will be tested to best levels the list ruled unáš a result of re-organisation, see whether it could be used This was disclosed to the for carrying bananas in the House of Commons by the Southern Cameidons.

Minister of Transport

It was built at Bembridge Emest. Marples, in answer to aby Britten-Norman Limited for question from a Conservative Elders & Fyffes, British ship-

owners and fruit importers. Member

South African Breweries-s so. changed to up 13 points. The Building and Materials market opened up eight to off New Orleans Portland Cement-seven points. Associated

Ord-5ta closed off four up 13 points.

Evening-up operations in the July delivery co-featured with a commission' and wire house October and demand for the Ltd-March deliveries. Small trade buying orders predominated in 110-659 the other months.

Coal Steel and Engineering Babcock & Wilcox Lid-30s 3d. United Steel-17. 8d.

Vickers Ltd 338, 115d.

Food and Tobacco

British American Tob. Co., 59% 60.

Imperial Tobacco 7164.

Co.,

Miscellan.cous Boardman Marden Lid-45 30. British Oxygen Ltd. Ordis $d. Canadian Pacific Rly-$10.

ENCOURAGEMENT

કો

Mr

"However, the number of true berths vacant is not

of idle capacity measure

the introduction of because modern building techniques bas diminished the number

use without

The tonnage launched from

of

pre-

It is visualised that the craft could be used on any clept',

· flat ares-dyen if there are në rade ronds.

Like the new hovercraft, the cushionersɗt operates about 12 to 15 inches above ground of water.

Market analysts drew en- berths in couragement, from news that judicing output. recess for the Congress will conventions and reconvene in United Kingdom shipyards this

decision revived yet is likely to be about the uses an airerati engine for its n. August. The

hopes that Congress may still Sane as in 1968, he added-lift and propulsion, the cushion

De La Rue Co. Ltd. Orda 3d. Db Rubber Cozu rusd. Gilan Holding Ltd-29 454. Hongkong & China Gas-16s sd Imperial Chemicals 15d. Lyona & C-78s 74d, Unliever Ltd-168s Bd.

COMMODITY PRICES

METALS

NEW YORK

LONDON

Closing prices all in pence per

ឥឥឥឥត

832222

enact some législation which

would alleviate the dull plight

in

China Mail Special.

which the futures market Eels sent by

has been

time.

burlet for some

Crop news today was mostly air to Russia

favourable, but had to ap parent market influence.

the

But whereas, the hovercraft

craft his * sportsun ánguid, which drives a compressor end twin rear-momted-propellofa:

The cushioncraft ir circtdar, about 10 feet in diameter and has an empty weight of one tort.

It carries a driver a two

Päris, June 29. Often constreet in July today

FRENCH firm has sent passengers in a cab on the deck, where there is also space for totalled 25,400 bades. The certi-

13,000,000 live trans-some outside cargo. ficated stock toled 4,279 bales

The propellats can drive the off 754 bales from the previous parent miniature eels to posting on Tuesday,

Moscow by Soviet TU104 craft backwards and forwards, Tany cotton exports for the jets during the past hand are also used for steering. Its driver has two controls- segon to dive total 8448,460 months; it was disclosed a combined hand throttle and Ubier against 2,051,102 bales

clutch to engage the compressor today. last season, acceding to New York Cotton Exchange Sovet tude mission rate arm and a steering wheel which is The eels were bought by the and control ground clearance, in Saint Nazaire to restock moved forward or back to go ponds and rivors in the Soviet ahead, or reverse, and turned

left Union.

or right for changing

Later in the years special container's equipped with an ice grill, so that melt-cushioncraft will go to We rates

ing fee would drop water on Africa for more route tests, and Swiss Francs, Maximum Sell- the eels and keep them at the for further study of fte poten- tial fn the banana Industry of 200 ing, 75%..

proper humidity and tempera- the Cameroons. West German Deutschemarks, tare during the high-altitude

fight-AFF, Closing prices all in pence per Maximum Selling, 72-8/18.

Mar

May

lb.:

No. 1 Rss 70% .........

20-37

Dec.

Settlement house tern:

$2.15

| July/Aug.

July/Sept.

Oct/Dee.

34%-36

34-341

NEW ORLEANS

Jon/Mar.

Aux.

11.15

Sept.

11.25

Estard crepe thực điện

Closing prices all in cents per UFI. 16. 3211-32% Spol General marketa, eil, bozia, ports: July

34-25 345-39 Dec May

31.50

3271

11.18

Closing prices, all in cents per Apr/May

18:

Lead

July

Sept.

Zinc

July

Sep

Copper

July Sept.

Tin

July

Sept.

thick July AMSTERDAM

3471-3196

37%

11.22 Closing prices all in guliders

$1.18 ner kilogram, clf. Juły

30.46 Na, 1 rubber

No. Z rubbar

ung No. 3 rubber ung No. 1 creme

LONDON Closing prices, all in sterling

P.O

R.M.S. "CORFU"

EMBARKATION NOTICE

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

EMBARKATION: Passengers should embark between 2.30 and 4.00 p.m. on Friday, 1st July, 1960.

The ship is expected to sail at 5.00 p.m. on Friday, 1st July, 1960,

BAILS:

BAGGAGE:

Should be sent to the Hongkong & Kowloon Wharf Cols Godown (No. 2 Gute) by 5.00 p.m. on 80th June, 1960.

SUBJECT TO ALTERATION

Rex

RUBBER

NEW YORK

3.39 buyers

3.37 buyers 1b.: .

331 buyers

3.70 Bilyers

LIVERPOOL

American Contract

-UPL July/Aug

Oct/Nov.

Dec/Joo.

Mar/April

May/Junio

Contract

July/Aug. Oct/Nov. Dec/Ban MayApell May/June

per long ton.:

Tin spot

buyers sellers

800.

B001%

Copper Spot

793

783

3-month

June Sept Zing 2nd half

June Sept.

hätt

25012 251 243***

24334

70%

71

7234

904 จ

STCAR

NEW YORK

Closing prices all in cents per

20

91

ib.:

-UPI.

Contract No. 4 (world)

July

2.79'

September

2.01

getober January

Maren

3,02

rubber futures closing prices, all in cents per lb.:

July Sept.

NOV.

Jan.

MET.

May

May

July

Spot(TAS. Cuba)

Total Sales: 596 contracts Open interest: 707 contracts,

Contract No. 6 (domestic) September

44.85

November Spot Total

40,30

30.05

38.50

38,00

7.90

750

NY. -duty) 580 228, contracts.

MUFI

COTTON

FOREIGN EXCHANGE

NEW FORÊ Closing rates:

Calida England

official

30 days

Australia New Zealand South Africa

Other inth

New York

Montre

PLENTY

Marino & Industrial

PUMPS – FILTERS IMPELATORS Suitable for all liquids and pastes

O.P.O. Box 899 RENECO Tl. 24991.

SINGAPORE Closing prices al in Straits

cents per lb. 16.5. Melayan norts:

Kh. 1. Julg

110-12016

$100-120

No, 2 July

No.4

No 4

Sipot rubber sambažudi

11

Closing prices all in cents per

Vienna Zurát

RESBERIJE.

1,00%

2800

2.7230

2.2450

2.79TL

2.8110

7276 15/16-2,78 1/14-

139.85-1

14,70€12,707

Agreed merchant The Adhere shipped in direction,

Ueir banana", plá

The press saw a demontra- tion in a hanger at Bembridge Alrport-China Mail Special.