CREDIT
HONGKONG
THE CHINA MAIL, WEDNESDAY, JULY 6, 1960,
SQUEEZE FEARS
But the cotton London
STOCK men are
EXCHANGE
وفا
Business donic at the Hong- Stock Exchange hils kong morning amounted to approxl- mately $2,083,000. Noon quots- tions and the morning's trans- action:
Share4
NK Bank
Buyers Beller 1220 120
Union
What Co. Waterbost Wheelock Deck Provident
Sales
2331215 in 1213
33 @ 1220 100 ir 1215
901220
30 ( 1220
94
254
200 @ 254
26
7.30 4310 & 7%
114 113 200 115
21.30 21.40 1000 / 21.20
300 21 3C.
HK Hotel
42 4215 2500 +42
HK Land..
5
2000 581%
Yaumiati
181
102
490 182
Trem
32% 33%
C. Light Electric
2012 22.63 2828.00
Telephone 38'2 39
Cement....
51
སྙ
100 or 181
10032 100 & 32x 100 + 521
still smiling
While much of British industry fears the re- .sults of the credit squeeze, cotton booms, Alexan- der Thomson investigates and finds out why the cotton men are still smiling.
London, July 5. drove to Manchester to find out if there were any signs as yet of a slackening in cotton's big revival. In the last few weeks we have seen its remarkable upturn, joyfully reflected in profits and dividends from the biggest groups.
But after the joyride some folk now wonder about the outlook, "Will Lancashire sink into another spell of gloom?" they ask.
I report that the present 500 or 3214 | mood of leading colton houses 4000 22.00 In this city seems as confident
500 2812 500 28.00 45 when I WAN here last 332 261 January,
106 e 28.00)
200 6/ 28.60
3000 2015
500 & 28.60 66338, Bor 39 3:00 39
No fizzling
a
Me Roger Lee, 58-year-old head of Calico Printers and Lancashire
Cotton
Corpora- પર 500 3431⁄2
tion puffed eontentedly at 500 55 1600 54% favourite pipe as he told me: one timetnost people "A1 thought
boomlet would 100 29.20 fizzle out about the end of this
1300 54% 10005411
50m 29
Dary
E.83 29.30
14
100
Watson
Invert
Textile
Nanyang
A. Kubler.
Rubber T.
Taikoo Dock Realty ..... Si Ferry 1k Gas...
Metal Indust. Lane, Craw".
H.K. & F.D.
29,301
500 23 year,
"Many
our
of my merchanting friends now think that it wi 25.70! go on well into 1961. The
200 29
20.20 25.13
527 28
500
8.20 5.40
11 11.70 8500
16.80
17
ZUT)
7
734 2035
71.
5000 7.15
8.65
8.80 1000
machine may go in for couple, of extra frocks instead"
As we chatted away in his big room in Manchester's Oxford Street, I asked Roger Lee about his views on dividends. I. com- mend them to some of our other bosses.
Shareholders
He said: "I believe that in every boardroom there should be a placard saying: 'Remember this company belongs to the shareholders.
"I don't hold with the idea that dividends should be pegged until the directors feel fairly certain of being able at least to maintain them at a higher level. "Shareholders should be given the beriellt of good years and be prepared for some reduction when they are not so good."
Lee has come up to scratch by just raising Lancashire Cotton 11.30 experience of the two groups 1 Corporation's half-yearly pay-
connected with suggests mcnt from 5% to 75%.
This has followed a spiralling that they may well be right." |
What about
credit in the six month's profit to the squeeze? Will the shock waves £1.95 million from '£1.31 mil- from the brick that Chancellor lion in the previous haltyear and Amory has dropped into the £700,000 in the period before credit pound extend as far as that. the cotton spinners?
1158.1 8.70 1000 8.70 5/1 37 400 $65 1.85 1.875 22000 6 1875
169 471 200 for 170
14.80 1491 1000 14.50
3470 14.80 |
1000
WALL STREET
closes
steady
London, July 5.
Stocks made a mixed show-
but
DECLINES ON A Britannia takes BROAD FRONT
New York, July 5.
Stocks retreated along a broad front today with
steel issues setting the pace.
Homestake Mining Co.
Idaho Power ...
Ingersoll-Rand
ing in quietly cautious conditions today several Industrial leaders
Selly grew restive after the Granasan Alecraft notched up gains on Amerkan Iron and Steel Insti- Gulf O
Hammond Organ special situations, bonus tule estimated steel production Heyden Newport Corp. issues and stock splits. this week would drop to an Hiram Walker moved into higher ground while, both sides of the previous close Imperial Dil
Imperial Chemical Industries 11-year low.
Price changes were wide on Hussman Refrig. British Oxygen, Metal Box, Vickers and other engineerings giving the list a generally mix-Imperial Tebaceo found favour.
ed appearance. Industrial stocks and Steel Co. Credit restrictions cutting into lost some ground in their avèi- interohemical Corp. the rate of new
car buying age on losses of two or more in Int'l Business Machines brought dullness to motors and Du Pont, Union Carbide and Int'l Harvester
International Paper Fords eased with British Moter point or more in Allied Chemical international Nickel
Ini Tet & Tel and International Nickel Corporation.
Rails spent most of the Persistent small buying scal- tered plus signs through gilt-in the doldrums with prices Kansas C Power & Light
steady to fractionally lower. Kezdecott Copper edged securities to
continue Uulitles were firm in their over- Kimberly Clark yesterday's advance.
Japanese bands maintaining age from the outset
Today's volume was 2,780,000 their upsurge with a broad shares of a total 1,201 istus range of gains were the standout traded 450 were higher and 538 shaded in the absence of a Wall in foreign bonds. Dollar stocks Street lead.
South African golds shook off their early dullness to stage a rally near the close based on rumours
favourable political developments frain the Union.
of more
showed a harder tendency.
Rubbers lost ground but teas UPI
Closing Prices
Gilledged Ronda Britt Tratisport
Louth.
Cursola 25%~~£44%.
£60
lower.
day
Johns Manville Co Kaler Industries
Liggett & Myers Tob. Co. Lilly Tulip
Litton Ind
Loews Incorp.
901
T
off every
fifteen minutes
THE Bristol Britannia aircraft is now in service to the extent that, on average, one is taking off at the rate of one every 15 minutes somewhere in the world.
Announcing this figure in Their Britannias are often to London recently, Bistol Alt-be sten at such points as Nicosia." craft say Britannias are making Aden, Nairobi, Singapore, Hong- | approximately 3,000 revenus de- kong and Christmas Island, In partures and flying some 14,500 the last case often in the course hours every month. And the of gittal charter flights. RAF figures are rising *$ summer Transport Command's payload 804 schedules are coming into force, and range capacity has also been Analysis of the hours flown on substrintially increased as de- 20 revenue or logistic operations by Uveries of Britannias have built Bose, Canadian Pacile Airlines, up. Up to the end of May, Bri- 313Cubana, El Al, Aeronaves de tannias had
roughly Mexico, Transcontinental SA, 330,000 hours approximately British United Airways (form-229,000 huts with Boac alone.
During 1959, the 32 afferaft 70% erly Air Charter and Hunting
Clan), Eagle Airways and RAF which comprise Bac's Britannia 4476 Transport
Command, reveals Ficet were responsible for 68 revenue that the percentage of depar-per cent of the total
free from tures
engineering hours flown by the corporation oil delays has been steadily rising. It was announced in London re-
The 1959, average WES 89.7 cently.
Described as a substantial and
Lockheed Alteraft
Lone Star Cement Co.
Dow Jones closing averages 3D Industrials 20 Rails
were:
Loweristeri & Suns,
40
McDermott J. Ray
16
142.2 Merck......
BT
16
bands
15 Utilities.
* Storks
comm. future price index
Closing Prices
Abitibi Pwr. & Yüper Alden tue. Acy. Algoma Steel Corp. Allied Chemicals
3.56 Mesabi Iron Corp. 211.01 Mission Development
Monsanto Chemical Ca.
Montgomery Ward
Motorola Inc.
National Biscuit Co.
$2.
148.
614 National Steel Corp.
New York Central
357 Noranda Mines Lid.
Norfolk & Weděru Ry. North Amer. Aviation
42:
BS
National Cash Reg, "A"
National Dairy Prod. National Lead
30%
80
27
Allied Mills Inc.
All Chalmers ...
29
97
American Airline
24%
Northwest Airlines (Com.)
Am. Cable & Radio Corp.
87%
Oklahoma Nat. Gus
27,
American_Cyanemid Co.
36
Olin Mathieson
42.
Otis Elevators
Am. Home Prod.
179
| Owen-Illinois Class
113
653:
20
24
054
Pacific Gas & Elec.
29
89 Penn. Salt: Co.
30
1978/80- Amer, & Forgn. Power
Am. Mach. & F dry.
American Metal
American Smelting
Consols - £0. Conversion £50-3/16.
Loan 3
Funding Loon 3%.
1901- 1909/69
Am. Natural Gas
ec
Are
Funding Stock 31% Funding Loan 4%. £6714.
SVAKE 3%. 1958/65-280. Savings 3%, 1969/70-278A,
Am Sugar Ret..... 1998/2004-American Tel & Tel
American Tob. 1900/00-Ampex
Calico Printers trading year Mr Lee, who is also a part has just ended. Its results 14.80 time banker he is
Savings 3, 1985/75-£71. local due about the middle of Septem- 43 43 1300 431 director
Barclays thinks her. 200 435 not,
inv. 14.20 [Old Asia Nav..
Si. Dock
1.40
15
44151
1000 14.70 2000 of 95c 1250 1,40
of
*
"It could easily help us," he said, "Housewives who decide not to buy a new washing
EMBARKATION NOTICE
ORIENT & PACIFIC LINES
R.M.S. "ORONSAY"
For Manila and Sydney, thence to the United Kingdom via Suez.
}
The company's shares were my main selection after my last visit here. Given half a chance in the stock market they could have more colour in them yet.
I have also called on Mr Billy. Winterbottom, Chairman of the £24 million Fine Spinners and Doublers Combine.
He is 8 Blocky 55-year-old and a colourful personality of these parts who likes to be outspoken,
Transformation
In my opinion," he declared, "Lancashire is not having a boom but a transformation."
Sitting in front of a big bowl of sweet" pess he explained: "The output in the past year hos not gone up so very much. But the whole feeling in our in- dustry has changed.
"The plan to strap 12 million surplus spindles has given
EMBARKATION: The ship will be berthed at No. 2 buyers much more confidence.
BAGGAGE:
"In our business no one likes Pier, Kowloon Wharf. Passengers to give a forecast going beyond should embark between 4.00 p.m. and a few months. But I expect 6.00 p.m. on Wednesday, 6th July. good trade for some time
come."
Synthetics
to
Under Winterbottom's leader- ship Fine Spinners concern has been expanding in the use of man-made Abres.
The ship is expected to sail at Mid- night on 6th July, 1960.
Passengers are requested to send all baggage for Hold and Baggage Room and as much Cabin Baggage as possible 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 between 8.00 am, and noon on ton." 6th July, 1960.
EMBARKATION NOTICE
ORIENT & PACIFIC LINES
R.M.S. "ORCADES"
For Japan, Honolulu, Vancouver, San Francisco, Los Angeles, thence to Australia and United Kingdom.
Banks
Barclay's Bank "A" Lid ord-253 Chartered Bank-615 3d:
Hongkong-2014.
Lloyd's Bank A-Gis M. National & Grindlaya Bank-
Insurante Union Imurence Cantonestar Aircraft and Motors British Motor Corp. Ord-109, Ford Motor Co-1063. Hawker Siddeley Group Ort-23 42jd.
Rolla Royce Lid Ord-4 d. Rootes Ltd "A"-10%_7id. Standard Triumph International- Da 41d.
Breweries
Distillery Co STS 9d.
South African Breweries ––245.
Building and Materials Associated Portland Cement!-693
Anaconda Copper Armco Steel Armour
Atlas Cops. Mining Baldwin-Lima-Ham, Baltimore & Ohio Bank of Montrea) Bank of Nova Scotia Berch Life Savers
Bell Telephone ......
Bendix Aviation Corp. Benguet Cons Bethlenem Steel Boeing Airplane
Borden (The) Co....
Burroughs Add Machine Calit. Packing Corp
| Cuna, BX, of Comm.
Cana. Brewers
Canadian Pacific R.
Crae J. 1) CH.
Cat. Tractor
Celanese Corp.
C. I. T. Financial Corp.
Chase Manhat. Bank
Chrysler Marlot
od
Ord-826
Goodlasi Wall, & Lead
1340,,,
Coal, Stest and Engineering Babock & Wilcox Ltd-35 31, United Steel-77a 8d.
Vickers Ltd 238 pd.
Food and Tobacco
British American Tob. Co., Ltd-
53 3d
Imperial Tobacco Co., Ltd 839, Miscellaneous
Boardman Marden Ltd-4 British Oxygen Led. Ord-97, 4
cor.
Crett Peabody Colgate-Palmolive Co. Commercial Credit Consolidated Edit
Oxford Paper Co.
Pan Amerlesn Airways
Paranoyal Pictures
Parke Davis Co.
36% Philip Morris
Pinly Bowes
48% Procter & Gamble Co.
Pittsburg Plate Glass
Publicker Industries
5% Pure On ....
B Radio Corporation
382 Raytheon
52b Republic Steel
574 Reynolds Metal
41
Reynolds Tobacco...
#1
Royal Bank of Canada Royal Dutch
43% Sateway Stores
'25% | Steint. Reg. Paper
Schenley Inc.
38 Scott Paper
60
13
Sinclair. Oil
52 Smith, Kline & French
371, Schony Mobil Of ..............
Zip South Puerto Rico Sugar
Southern Natural Gas
Sorthem Bailway (Com.)
334% Sleep Rock
flown
per cent, and in the first five months of this year the record significati! contribution to the 374was: January, 90.2 per cent; airline's total
revenue-tarring February 82.0 per cent; March capacity, the corporation state 93.3 per cent; April 83 per cent; that the outstanding feature, of By : May
03 per cent.
Britannia operations is the high Not one commercial operator, degree of reliability being abxdwhether engaged on scheduled achieved by the fleet,
Recently, 93 per cent of all services or on charter work, hás achieved less than 90 per cent of scheduled departures by Bri- 177 departures free from engineer-tannia 1023 have been free of 61ing delays in the past three engineering delays-a
figure which compares very favourably
43
zay, months.
201
43
118
281
e
5912
One of the busiest centres of with those for other aircraft in Britannia activity is New York the corporation's service and International Alfport, where particularly, encouraging when Boac, El Al, Cubans, Aeronaves it is remembered that these Bri- and Transcontinental aircraft tannias have been used regularly
Boac's Camionwealth can often be seen together.
On average, there are 7.5 routes; some of the most arduous Britannis departures each day in the world," say the corpora- from Idlewild-small perhaps in ion.-LPS.
relation to the airport's total
daily movements but more than
has ever been regularly achieved
07
at Idlewild by an aircraft bulGrounded Vickers
outside the US.
More and more cities are being served by Britarialas. El
874 Al fy to numerous points in
202 Europe as well as to New York, 345
while Cubana eircraft 40% 48% operate to
flies again
London, July 5.
Mexico City and BRITAIN'S new Vickers 43 Madrid. Transcontinental's Vanguard turbo - prop Aires-based machines ciriner, grounded since May are to serve Santiago as an ex 26 because of or engine tension of the airline's New York fault, How again yesterday.
10
251
Standard Brands
53
Staddart Ol of Cel,
20
Standard Oil of Ind
45%
Standard Oil of NE
Steel Co. of Canada
021
Sterling Drug Co
BU
Stokely-Van Camp.
Continental Can
38%
Stone & Webster
Continental Oll of Del
474.
Studebaker Packard Corp.
Crane Cor
17
Sunshine Mining
5
Crown Zellerbach
*
Swift & Co.
431
Texas Co.
7413
Cuban Amer. Sugar
14
Delaware & Hudson Co.
227
Textron Inc.
20
Thiokol Chern,
Doohd Alkali
8412
38
d.
Diamond Gard
Tide Water Ol
30
Distillers-Seagrama
34
Twentieth Century Fox Film
Dupont de Nemours
208
Union Dil of Cal.
Union Pacifle Railway
12734
United Aircraft
El Paso Natural Gas
United Freit
Family Finance Corp.
794
US. Foll "B"
First Nat. City Bank
787
U.S. Gypsum
112
67
US. Line Co.
233
50%
US. Rubber
400%
US. Smelting
2842
U.S. Steel
7812
123
4412
U.S. Eteel 7 P.C. FF Warner Bro
14152
55
Canadian Pazifie Rly-$441S. De La Rue Co. Ltd. Ord—a, Dunlop Rubber Co—251 30. Gilan Holding Ltd-25 4750. Hongkong & Chins Gas-163 Bd 8. Imperial Chemical-625 3d Lyons & Co-708 750. Vallever Ltd-1716 6d.
Paper
Bawater Paper Corp Ord-58s 3d.
Radio and Electrical Associated Electrical-623 Bd. Electrical & Msical-609 3. English Electric Co-691 od.. General Electric 3 od.
Shipping
He told me: "In terms of cash turnover we are now about 50% In cotton and 50% in synthetles like rayon and nylon.
"In weight of material 31 oled. handled about 60% of our out- put is in synthetics either their own or blended with cot-
on
The changeover policy has been successful. It is now being followed in the group's ninë mills in France.
I would class Fine Spinners shares as a pretty fair bet ater their recent fall from 37/06, to around 32/-4.
This puts them on a £7/14/- d. % yield basis. If Winterbot- tom's "transformation"
Stearn
Dominion Stores Dow Chemical
Bestern Air Line
Eastman Kodak
Ford Motor ... Georgia Pacific General Dynamics General Electric General Foods
General Motors
Gen. Pub, Utit.
Gen. Tyre & Rubber Nav. Co. de Gidden Co.
Getty O ord-234 3d.
Goodrich (B. F.) Co. Steam Navigation def ord-Goodyear Tyre.....
Great Northern Railway Storët Debenhams, Ord. Lid-40%, Great Universal Stores "A"--49%, Marks & Spencer Lid-70s 411⁄2d. Woolworth F. W. & Combi¥ Bd.
Textti
Coats J & P. Lid=474 zijn. Courtaulds LG 435.
Mines
Cone Goldfields of South Africa- 615.
theory | 64.
is right that is a pretty generous return
Odd item: his company owns a 38,000 acre cotton plantation on the Mississippi.
What is it worth?
"Ah," says chairman Winter- bottom, "All I can tell you 19 that the Americans tell us that the land values in the area are Fising by anything up to 8% each year."London Express
EMBARKATION: The ship will be berthed at No. 1 Service.
Pier, Kowloon Wharf, Passengers
BAGGAGE:
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, 1980.
Passengers are requested to send all baggage for Hold and Baggage Boom" and as much Cabin Baggage" as possible to the Hongkong & Kow loon Wharf Co's Godown-Entranca.
Agreed merchant rates
Swiss Fries Maximgur Selling 75-3/10
Belgian Frazica Maximum Selling 866,
Genman - Denißschemarks Maximum Belling 72
W
Exchange rates
Cone Zine Corp. Ord-76, d.
Ty Beene der-145 744d.
Hongkong Ti-12% 440.
Pelaluir Tin-56 114d.
Rand 718 3d.
Southern Kin Cons Lid-285 34. Union Corp 31 390. West Driefontein Goldonining
од
British Borneo Petroleum Ea:b--# 10}{r
2
Traders Finance
284 Tri-Cont. Warrants
91 Union Carbide
Waukesha Motor
Westinghouse Air Brake
Westin house Electric
Winn-Dixie Stores
Woolworth (K. W.)
100
38%
Zenith Radio
¥8
Buenos
-Buenos Aires route.
has
had
Canadian Pacific Airlines, The 139-seater airliner, "on 81% which
Britannias order for Trans-Canada Airlines - bperating to Amsterdam, Hong-and British European Airways, kong and Honolulu for some is powered by four Rolls-Royce time, have for the last 12 Tyne turbo-prop engines.
On May 28 it was aritiounced months been operating a daily service across Canada from that engine faults had been dis- Vancouver to Montreal, through covered during testa at the Rolls-Royce Factory at Derby, Winnipeg and Toronto,
More recently, they have been Northern England. Aying to Mexico City and from Last night it was announced there through Toronto and that sets of the engines had Montreal to Lisbon, and Rome, been re-installed in Vanguard while on May 7th CPA's South airframes at the Vickers last American service was extended airfield at Wisley, Southern 53% through Lima and Santiago to England.
Buenos Aires,
Vickers said that sets of pro-
The independent compunles duetion engines would be des 43 operating Britannias British livered in mid-September. They United Airways and, more re-haped that planes would be cently, Eagle Airways—are mak- | handed over to the airlines with 5031 ing full use of the considerably certificates of airworthiness be
Increased payload/range capa- fore the end of the year.-China city conferred by the aircraft. Mali Special
11732
-UPI.
COMMODITY
SUGAR
NEW YORK
Spot rubber untated
No. 2 July
No. 3 July
No. 4 July
Blanket crépë ai.
11532-11842 114-115 11314-114 1160-110x 10815-10925
Copper, July sept,
123-12434
LONDON
No pale crepe
Closing prices all in pence No. 1 Rai spot... për 1b,;
Seflement house term: July
General markets, c.12. basia, pòria:
PRICES
30.85 30.12
LONDON Closing prices, all, in sterling per long ton.
Buyer Baller
709
Byndl
British Burma Petroleum- bá, Brikh Petroleum Co., Ltd--516, Burgh 3d.
Closing prices all in cents per
500b
3414-942%
3-mbhth
16.
Contract No. 4 (world)
3311-33% Soot
Copper,
Royal Dutch Petroleum-133. Shell Transport & Trading40
éd
Sept. Det Jer,
July/Sept.
Olet Dec.
3.00 | Jan/Mar.
****Reuter.
Mar
303 | Apr/May
334-33144 st tall,
3215-3236
May
July
Zine ist half,
71%
7
July
2.00 July
July
Spot-(7.4.5. Cúza)
300
Aug.
Sept
Total Balpa: 282 contracts.
Bapt
2396-2341
Cipeo, maéreas, 2247 contracts.
Estaté crepa thin July-
Contract No: 0. (ROMERIL) Sept.
*6.01
Nov,
€1,09
Spot(CJ. N.V, ex-duty
Total Hafen:, 37, contract Open Interest: 3/70-donta
UPL
No. 1 rubber
No. 2 rubber
No. 3. rubber
NY sugar market
New York, July 5ị. World No. 4 ungar futures to
day closed two pothis lower to one point higher with sälei of 263 contracts.
Domesile No. 8 sugar closed one point lower with sales of 37 contracts.
Both markets Wéfe less ac- tive and responsive to moderate
RUBBER
NEW YORK
Rex rubber futures closing-
order elther, way while traders prices, all in cents per iba p
July 4: Best: 45: Nov: 24.30; the Washington- analysed
at No. 2 Gate, Canton Road, between Bugnees way done in Veral Havana reports relating to im Jahap 24.30% Hkr; 81202] Mày: MI0:
8,00 am, and 6.00 p.m. on 6th July
or 6th July between 8.00 am, and noon 7th July.
exchange market this port quotes.
morning at the following rates:
Us, dollar (pur: $1).
Trade sources fell that If.
eurog natur.(per_211 16 respective of what happens, in Cuba, world suppiles are treat 1240 enough, to take care of U.S. HE 20.00
Aphirullen mótka (der #3) Indonesian rupiah „(per 100).
Singapore (2£196)
*** | quirements—UPL
SINGAPORE
prices
all in Streits
De 1815b. Malayan
thick July
AMSTERDAM
Closing prices all in guilders
per kilogram, elf. July.
No. 1 trepa
$,28 buyers
3.28 buyert
3.20 buyers
3ss. Buyers
UPL
METALS
NEW YORK
LIVERPOOL
Closing prices all in pencë për 1b:
Aměřicía Continët”
July/Aug: 2X; bet/Nov: BLAS; DiGJan-0; Mar/April: BRAS May/June:.56
Mixed Contract
July/Ang; them On/Nuri 22.60; Dec./Jan: 2,30; Mar/April: », 22.80; May/June: 22.90—UFI,
COTTON
FORLIG FACHANGI
KF NEW WORK
Closing rates
Citade England, offer!
50-des
Closing prices All in cents per 15.4
| iSpät:: 34.25, rom: July: 3293; 00:
31.00 Dec: 31.21; Mard $1.35%RAT 21,80 July: $125
3166: Mar: 211090 MAY
AND NEW ORLEANS
1b.:
South Atrion)
Others tinchanged,
LONDON
Closing rates;
Dec
Ndw York Montreal
Cibkling bricød› all ̈16i Gélits per
-Spot: 31.90% July: 22.80; Oct;105;
Closing prices, all in cents berat 21.151 Mars 21.09 MAY 1:180
ZAEL SAO TAULO
Average Sta
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