1960-07-05 — Page 2

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IMBARKATION NOTICE

ORIENT & PACIFIC LINES R.M.S. "ORONSAY"

For Manila and Sydney, thence to the United Kingdom via Suek.

EMBARKATION: "The ship will be borthed at No. 2

BAGGAGE:

Pier, Kowloon Wharf. Passengers should embark between 4.00 p.m. and 6.00 pm, on Wednesday, 6th July. The ship is expected to sail at Mid- night on 6th July, 1990.

Passengers are requested to send all baggage for Hold and Baggage Room and as much Cabin Baggage as possible to the Hongkong & Kow- loon Whart Co.'s Godown-Entrance at No. 2 Gate, Canton Road, between 8.00 a.m. and 5.00 p.m. on 6th July or between 8.00 am. and noon on 6th July, 1960,

THE CHINA MAIL,

BANK I

Yesterday's Closing

TUESDAY) JULY 521960

RATE RISE IN UK Disinflationary London market

COMMODITY PRICES

METALS

LONDON

Closing prices, all in sterling

per long ton:

in

Spat 3-month Copper Społ 3-mpath

Lead ist half July zine 1st half July

Buyers Sellers

607

7001%

787

FOR

$6:00

1974

RUBBER

253 243

AMSTERDAM

Closing prices all in guliders per kilogram, c.lf." July:

No. 1 rübber

No.

No. 3 rubber

No. 1 crepe

buyers Exuyars

buyers -UPI.

COTTON

LIVERPOOL

Closing prices all in pence

905%

per ib.;

UPI

American Contract

July/Aug.

Oct/Nov.

Dee/fan.

Mar/April

May/June

Mixed Contract

July/Aug

Oct, Nov.

£1.90 273

Dec/Jan

M 12.99

-UPL

116-11

116-1184%

FOREIGN EXCHANGE

LONDON

LONDON

Closing prices all in pence

Closing. rates:

341-34

New York Montreal

33-33 33

Amsterdam Brussels Copenhagen Frankfurt

Lisbon

3.80-11/16-2.88-13/16 [2.35-6/16-2.75–2/18,

11.5811-10.583

$39.85-139.90

pray

Generál, markets, c.l.f. basis, porta:

Paris

18.3942-19.34 11.704-11.2018 80.85-8055 20.0216-30.09%% 19.7545-13.783

July

Sept

Stockholm

14.48-14.4814

1743-1743)

Estate crepe thin

31-337 | Vienna

Zurich

72.70-73.83

12.12-12.12

thick July

36

UPL

EMBARKATION NOTICE

ORIENT & PACIFIC LINES

R.M.S. "ORCADES"

For Japan, Honolulu, Vancouver, San Francisco, Los Angeles, thence to Australia and United Kingdom.

SINGAPORE

Closing prices all in Straits cents per lb, f.o.b. Malayan ports:

No, 1 July

Aug.

No. 2 July

No. 3

No. 4

#

Spot rubber unbaled

Blanket greps

No. 1 pala crede

per lb.: No. Rag spot

July/Aug.

EMBARKATION: The ship will be berthed at No. 1Setement house term:

BAGGAGE:

Pier, Kowloon Wharf. Passengers | July/sept. should embark between 1.00 pm, and 8.00 p.m. on Thursday, 7th July. The ship is expected to sail at 4.00 p.m. - on 7th July, 1960.

Passengers are requested to send all baggage for Hold and Baggage Room and as much Cabin Baggage as pogible to the Hongkong & Kow- loon Wharf Co.'s Godown-Entrance at No. 2 Gate, Canton Road, between 8.00 a.m. and 5.00 p.m. on 5th July or 6th July between 8.00 am, and noon 7th July,

Mar/Apri

May/June

Marine & Industrial

COVENTRY

Engines Generating sets G.P.O. Box 8 RENECO

VICTOR

Tol. 24491

purpose seems

ems

to be achieved

London, July 3. Britain's bank: rade rise has been well received. Certainly it should achieve its disinflationary purpose inasmuch

•Witherto inflationary boom was probably breaking of its own weight before any of this year's restrictions took effect.

Y

Meanwhile, the inflow

The President of the South American and other money pro-African Chamber of Mines has techs sterling against the D-quoted President Eisenhower's mark's blast. Even in the first former chiet economic, adviser quarter the change in relative that the United States no longer money rates after the British has freedom to conduct its econo- bank rate rise in January bene-mic affairs without regard to re- Aired Britain's balance of pay-lative interest rates and other ments.

external developments.

་་

Thanks to an Improvement in policy, nor be any future threat, ports rose 2% faster than pay- ments for imports, whereas the misleading monthly trade figures had shown that actual Imports rose 25% faster than actual ports.

more

!

Confidence

Gains in gold

undecided on small orders

London, July 4,

Stocks stayed undecided today after narrow more- ments in a subdued market and dealers re- ported smaller than usual weekend orders.

New issues shortly due on the

market kept buying in check.

Motors turned dull in contrac- tion in instalment plan car pur→ chases for Jume, while the satis- factory gold and deflor reserves came too late to make an im- pact.-UPI.

Closing Prices

British

£60.

Gilleaged Bonds

Transport 3% 1978/83-

Consols £4414.

Consula 4%-om.

Conversion Loun 315

1901-

£50,

Funding Loan 3% 1950/88- £80.

Funding Stock 311% 1039/2004 £644.

Funding LaBn4%, 1980/90----

If one asks how long the United States can exercise. It without having it, the answer is as long as the German Bundes-287-7/16 ex-bank allows and not a day longer. Germany takes hardly any of her gains in gold, whereas when Bri- tain or Belgium are gainers, they take almost the lot.

Gd

Sayings 1, 1965/65-239-0/15, Savings 31, 1980/70–£79-1/18. Savings 1965/75-£71-13/16.

Banks Barclay's Bank "A" Ltd ord-54

Chartered Bank-Sin 3d. Kongkong-28is 19jd.

Lloyd's Bark "A"-61 6d. National & Grindlays Bank+39

10d.

Insurance

Union Insurance. Canton-25%. Yung Älteraft and Motors

British Motor Согр. Ord-10

Ford Motor Co-1066: 115d. Hawker Siddeley Group Ord—298

3d.

Rolls Royce Ltd Ord-141.69. Rootes Lid “A”—10. 3d.

In the 16 days up to June 23, American officials are said to the Bundesbank was gaining un- expect that Europe's higher in wanted foreign money at the in- ed." terest rates will not take out credible rate of more than six than $500 million of billion dollars a year. If it had American money in the next two merely taken that fortnight's months and that any resultant gain in gold, it could have touch- gold losses will not hinder. the ed off sizable avalanche. Federal Reserve's easier money policy, nor be any future threat; i

On any such change of Ger- provided foreign confidence inman policy, the present United the dollar is not disturbed. Slates gold price might last but the present United States easy That remains to be seen. The money policy could hardly last Bank for International Settle en hour. Anyone who supposes ments remarked that to prevent that the rise in the British bank a run on the United States gold rate on Jurie 28 was quite un-

this slock large interest rate, differ-connected with

German entials between the United States phenomenon is, of course, en- and Europe should be avoided. titled to his opinion. It does Before the ink was dry, the dif- not lessen the uncertainties of ferential with boily Londers and American business and Wall Frankfurt had widened to about Street in the coming half-year- three full points.

China Mail Special

Ltd-838

Imperial Tobacco Co., 6d.

Miscellaneou Boardman Marden" Lid-to 3d, British Oxygen Ltd. Ord-9 84. Canadian Pacific Bly—#457||||

De La Rue Co. Ltd. Ord-30s ed. Dunlop Rbber Co 25 d. Gilman Hoiding Leds id. Hongkong & Chips Glass Ed n.

Imperial Chemical-1831 90. Lyons & Co-793 4440. Unilever Ltd-111s .

Paper

Bowater Paper Corp Ord-53 Bd.

Radio and Electrical

Acapeleted Electrical-69s Ed.

Cable & Wireless (Holding)-161. Electrical & Musles-60s Ud.

d..

English Electrié, Comia General Electric-6. Oriental Telephone & Electric- 17 d.

- Shipping Indo-China Steam Nay. Co. dis erd-23 3d.

P&O Steam Navigation def ard-

$70 10440.

Stores

Debenhams, Ord. Lid-45x ed. Great Universal Siprea "A" Marks&Spencer Lid-15 Bd. Woolworth F. W. & Co-84% 5d. Textiles Cools J&P Ltd-47 94, Courtaulds Lid-87 Bd.

618

Miner

Goldfields of South Africa Conx Zine Corp. Ord-768 d. De Beers def-148s 101d cor. Hongkong T-11e 1054. Fetaling Weinar.

Rand -18 3d,

Southern Kinta Cons Ltd--Zia Bd. Union Corp-kis Tid. West Driefontein Goldmining-831.

Standard Triumph International- † 94.

750. Breweries

Distillers Co-375 éd.

South African Breweries 24 30. Building and Materials Associated Portland Cement-bys "Goodlans Wall & Land. Ord-825 $150.

10110

Cool, Steel and Engineering Babcock & Wilcox Ltd-168, United Steel-778.

Vicker". Lt=33# 411⁄2d.

Food and Tobacco

British American Tab. Co., Ltd-

59s 6d.

British Borneo Petroleum Syndi». cato-45 1015.

British Burmah Petroleum-ls Bd. British Fetroleum Co.. Ltd-301

Burmah--lend.

Royal Dutch Petroleum--#15-18/89 Shell Transport Trading-1

-Router.

HONGKONG

STOCK

EXCHANGE

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Business done at the Hong- -

Stock Exchange... this morning amounted to p proximately $1,706,000. - Noon quotations and the morning's transactions:

Buyers Beljeza

A NEW OLIVETT

INSURANCES

SEMPPING

Waterbest

Wheelo

DOCKS, ETC.

K. What

K. Wher Dock

Provideat

TaškDo

LAND, EN

HX Land

Realty

RUBBER

Auspic.

4300 € 1.25