1960-07-12 — Page 2

THE CHINA MAIL TUESDAY, JULY 12, 1960,

New Singapore industrial

GORDON HUNG

Singapore, July

The Singapore Government is taking its first concrete steps towards industrialisation on the island state with plans for the development of a HK$82 million industriql town

in the former "lost regions" of the State,

This new town on 颢 5,000-acre site at Jurong, on the undeveloped west const, is envisaged as the centre of an industrialised Singapore

The proposed fron and steel| plant will be sited there as the core of the medium and heavy Industry centre.

Around it the Government hopes to establish ancillary in- dustries such

aluminium smelting, oil refining, ship- breaking, shipbuilding,

and milling, cement works

textile mills.

49

Ten miles from the centre of Singapore city, the new town will boast something new for this part of the world hellport to cater for a pelloopter service from the International airport to the

new town.

Other developments of the

new town require the соп- struction of berths and piers for ships of 40-foot draught and other port facilities; major access roads from the city to the town; a railway line to the Federation; an industrial re- servoir; gas works; and a fast ferry service to the city.

to cost

work, we will never get suy». where," he said.

ideal as on

Singapore, said Mr Lee, Was industrial centre serving not only the Island and but all neighbouring countries.

With its central location and efficient shipping and marketing services, it would be easter and

for cheaper,

instance, for Singapore to supply the outlying islands

the Indonesian archipelago than to do.so.

Other manufacturers agreed Mr Lee. They said the plans to set up eight smaller Industrial estates would encour- age industrial investment,

would like

with

centre planned:

BRITAIN EARNS

$82 million £53 MILLION IN

WALL STREET HIT London AIRCRAFT SALES

BY WAR JITTERS

New York, July 11,

for Dakarta War jitters hit the stock market today driving prices lower across a broad

to

Many stries, but had start small no factory buildings, they said.

I development agencies, working with the Government could put up factories" for sale on deferred payment sys" "backyards" in- tems, many dustries would spring up. Money note: The P.A.P. Gov The Government had already

Five-Year Develop- approached the Canadian Government's

strengthen the ernment to provide a team of ment Plan to about 12 engineers, architects country's economy and expand

and

front.

Traders grew pervous after Moscow announced the shooting down of an American plane over the Barents Sea,

Strels

under heavy were pressure after holding steady to slightly higher most of the Dession.

A

American Airline

Am. Cable & Radio Corp. American Cyanamid Co. Amer. & For Power

2016 | Southern Co. (The)

134 | Bouthern Natural Ga 415% Southem Zailway (Com.)

Standard Brands

58 | Standard Oft of Cal.

7

Am. Gas & Electric Am. Home Prod.

178 | Standard Oil of Intl.

American Metal

Am. Mach. & Fdry,

69%

Standerd Oil of NA.

$211

Steel Co. of Canada

Am. Natural Gas

58

Steep Rock

American Smelling Am. Sugar. Ret.

B1

Sterling Drug Co.

€31/

Stokely-Van Camp.

B0%

Stone & Webster

STA

38% Bunshine Mining

Studebaker-Packard Corp.,

10

49

Swift & Co

6744

Texas Co.

731

The market generally ignoredAmerican Tel k an expected increase of more American Tob

steel Ampex than 10 points in the operating rate this week. pick up in the steel rate, looked for last week, already had been discounted to a large extent.

suffered their

Most stocks

surveyors to prepare detail-its social services is expected to

million.

biggest setbacks in the final cost nearly HK$2,000 ed site and construction plens

A Singapore Government de- hour. Selling hit the steels and to supervise the construction

for first Is now in Britain legation

then spread quickly to work.

financial talks with the British other sections of the list. Government to seek loans for |parts of the development plan.

New town

The industries in the new town will be sited on the coast, while housing, schools, com- munity and welfare centres will be built on the hinterland.

Total cost for the develop- ment of the area for Industry is estimated to be HK$82.26 million over the Government's Five- Year Development Plan period. Another HK$9 milion is to be spent to develop eight other in- dustrial estates on the island during this period.

In the case of these smaller estates, the Government will

provide the land, while other

development agencies will be responsible for developing the Industrial sites and providing completed factory buildings, These buildings would be sald to businessmen payment system.

#

Welcome

deferred

Singapore industrial circles have welcomed the new Govern- ment plans saying that if the Singapore Trades Union. Con- gress could bring real industrial peace to the island, money would Bow into the country,

Mr David Lee, chairman of Manufacturers' the Singapore Association, said that manufac- turers would never refuse to in

Rubber

market

review

mments

SETBACKS

in

Electronles were among the heavy casualties. Loses here ran to more thany form Collins Radio, Texas Instru- and Amotorola. IBM toppled around six points.

In motors, Chrysler gave up around two, Ford, American Motors and General Motors

halt a

or mare. Dupont dropped more than a point in chemionis.

In steels, Lukens fell more than two. U.S. Stel a point end Jones and Laughlin around

Vending machines, some ertainment stocks and drugs elso lost.

Today's volume was 2,920,000 shares.

14. Singapore, July 11. With overseas advices much

as expected, the market opened 1 cepts easier than Friday night but! selling was not sustained. In New York, rex rubber fatures closed today Ave to 45 points higher with sales of 55 contracts.

A generally quiet market was featured toward the close by a covering demand in July plus

dialer some

hedge-lifting against moderate sales to fac- tories in the delivered market.

Locally, current month No. 1 Rss as quoted 422 cents, nominal.

In London, the rubber market was quiet with spot quoted at crease wages provided produc- 31 pence. tion increased as well.

In Amsterdam, the rubber

Of a total 1,251 shares traded 333 were higher and 682 lower. American exchange volume was 1,240 shares.

Bonds volume amounted to $4,080,000.

Dow-Jones closing averages

were:

20 ralis

30 industrial 15 utilities 5 stocks 40 bonds Comm. future price index.

Closing Prices

Abitibi Pwr, & Paper Alden ire. Acy. Algoma Steel Corp. Alled Chemicals

Alled Mills Inc.

"If the workers are insisting market was irregular today Allis Chalmers on more pay while doing less | UPL

Yesterday's Closing

Anaconda Copper Armps Sleei Armour Asbestos Corp. Atlas Cona. failing Baldwin-Luna-Ham. Hattimore &'Chlo Bank of Montreal Bank of Nova Scotia Beech Elfe Savers B. C. Tel. Co Bell Telephone Benedriel Finance Bendix Aviation Corp fBenguet Cons..............

Bethlehem Steel

Boeing Airplane Borden (The) Co. Burroughs Add Machine British Amer. Ol British Columbia PWT. Cana. Bk. of Comm. Cana. Brewer Campbell Soup Co. Canadian Pacific B. Case (J.) Co.... Cat. Tractor Celanese Corp.

C.LT. Financial Corp. Chase Manhat, Bank Chrysler Motors Cuett Peabody Colgate-Palmolive Co. Colombian Carbon Co.

Commercial Credit Coisolidated Edison

Continental Can Continental Oll of Del. Crane Co......

Crown Zellerbach Cuban Amer, Sugar Delaware & Hudson Co. Diamond Alkali Diamond Gard Distillers-Sesgrams Dominion Stores Douglas Aircraft Dow Chemical Dupont de Nemours Eastern Air Line

040.44 Eastman Hodak

140.04 Paso Natural Cas

Family Finance Corp.

210.06 Firestona" Tyre & Rubber

8347 First Nat. City Bank

145 05 Ford Motor

Georgia Pacific

General Dynamics General Electric

General Foods

General Motors

*

B

Twentieth Century Fox Füm

Textron Inc.

334 Thickel Chem

Tide Water Of

Time Inc.

| Traders Finance

534b-Cont. Warrants

Union Carbide

Union Oil of Cal.

44 Union Pacific Railway

45% United Aircraft

293% United Fruit

United Gut Cory.

30

34 US Smelling

closes

lower

London, July 11. Stocks retarded today under Night selling in markets unsettled by the Congo and Cubs situations to show losses in most sec tors.

Industrials lost their recent firmness when several leaders ran back.

London, July 11.

ORDERS for 12 British airliners worth £53 mil-

lion were received during the first six months

of this year, the Society of British Aircraft Cop- structors announced.

The Society sald that the value of orders for British engines for installation in for- gainers totalled over £3

million.

More than half of the £36 million orders for aircraft, and engines were from abroad;"

The sincraft order's included 15 Comets nine of them for overseas airliners, 13 Viscounts hilall for abroad; two "Argosies, three Avro 748's, and three Vanguards,, the Society said.

Issues of companies with wide overseas Interests Were sending Unilever, Ford, Philips 604 Lamps and Imperial Chemical Iodurties all lower. Stoels and STA engineering turned dull white 120 textiles, stones and breweries

receded.

2701

Prices drifted in gilt-edged, the securities missing the thrust of recent buying. Losses ranged

up to 4th sterling. There was little interest in foreign bords

OVERSEAS ORDERS

Restoration in

ship freights this year?

E

Paris, July 11,

year 1959, has been of the worst in his-

It said that Rolls Royce had tory for world shipping, a won two Important overseas report of the French, Ship- orders during the first halt of building and Marine Engine the year-

Construction Association des A£3,8 million order to sup-clared.

69% where Greeks #hacked. Dollarply Avon jete to the 20 Frepich

stocks mainly improved,

3

1 UA, Foll "B"

45% 0.5, Gypsum

TV (18. 16e Co.

27

1944 U.S. Bubber

32% US. Steel + P.C. Pr

6211 | Warner Bros.

4812

Gay Westinghouse Electric

58

241

254 U.S. Steel

391 Waukesha Motors

Westens Union Tel Co. 10% West Va. Pulp & Paper 27% Winn-Dixie Stores

Woolworth_{X. W.)

25

12524

34

291

20

1844

Zenith Radio

38

11816

-UPI.

HONGKONG

STOCK EXCHANGE

Our Den Cunt apuntess

Business done at the Hong- kong Stock Exchange this morning amounted to approxi- mately $2,275,000. Noon quota- tions agri the morning's transactions.

Shares

Whart Co Wheelock

$1

Gen. Pub. Ul.

31

Gen. Tyre & Rubber

KC Bank

33

Glidden Co.

28%

Goodrich (B. F.) Co,

Am. Brake Khoc

41

Goodyear Tyre

Great Northern Railway

Grumman Aircraft

Hammond Organ

Heyden Newport Comp.

COMMODITY PRICES

METALS

NEW YORK

Closing prices, all in cents per

lb.:

Zad,

July

Sept

Zine.

July

Sett

Copper.

July

Sept.

No. 1 Rss spot a....... 313-31

Settlement house termi

Hiram Wa

Homeslike

fining Co.

Husman Refrig

Id-ho Power

Imperial CHI

Imperial Tobacco Ingersoll-Rand

Inland Steel Co.

Intirohanial Corp.

Int'l Businem Machines Int'l Harvester

International Wickel

International Paper

Kennecott Copper

Liggett & Myers Toh. Co.

Lily Talip

jan

Litton Ind..... Lockheed Aircraft

Loews Incorp....... Lone Star Cement Co. Lowenstein & Sons. McDermott J. Ray MeDennall Aircraft Merck

LONDON

Closing prices all in pence per lb.:

Mar/April May/June

22.35

22.50

Mixed Contract

Inta Tal 24 Tel.....

July/Aug

22.46

Johns-Manville CD,

Oct/Nov.

2235

Kelser Endastl

Dec/Jan.

22.35

Kane C: Power & Light

Aus

3115-3191

Mar/April

22.06

July/Sept.

314-319%

Oct/Dec.

315-319%

Jan/Mar.

91-313

Apr./May

304-3071

General markets, c.f, basis, port

July

3236-3134

Aug.

11.20

Sept,

11.30

Estate crepe thin July

11.27

31-31% 34 341

SUGAR

11.41

$1.63

per kilogram, cit. July:

21.10

No. 1 rubber

3.06 buyers

No. 2 rubber

No. 3 rubber

No. 1 crepe

Buyers Sellers

817

808

80215

8X4

LONDON

Closing prices, all in sterling

per long ton.

#pot

3-month

Copper, spot

Lpart at hall.

3-month

Zine ist half,

RUBBER

thick July AMSTERDAM Closing prices all in guliders

NEW YORK

Closing prices all in cents per

304 buyers 1b.:

3.02 buyers

3.40

buyers

-UPI.

COTTON

NEW YORK Closing prices all in cents per

2420 пот

Sobi

Contract No. 4 (world) Sept: 3.30; Get: 3.38; Jan: 3.18: 3:19: July: 3.19 Mar: 3.49; May: Spot(FAS. Cuba): 3.25.

Total Sales: 734 'contracta,

Open

•. Interest: 6,512 contracía, Contract No. 4 (domestic) -- Sept: 1.06; Nov: 6.03; Spot-(C4, N.Y. ex-duty): 6,06.

Total Sales et confrapist AR Open Interest: 3,119, contracts UPLA

FOREIGN EXCHANGE

FORK

Mesabi Iron Corp. Minnesota Mang Mission Development Montecatini- Montgomery Ward, Motorola Inc. pa National Biscuit Co. National CST Reg. "A" National Dairy Prod. National Land National Steel Corp. New York Central Vorante Mine: Ltd Norfolk & Western Ry. North. Amor, Aviation Northwest Airlines (Com) Oke hima NIC G Olin Maintaión: Otis Elevatogne Owen-Illinois Gim Oxford Paper Ca Pacific Gas & Elec Pan-American Airways Paramount Pictures Parke Davis Co. Penn Set Pa Philip Morris Pitney BowVBE Prouer

Sales 39 @ 1230

1.40 7.40 4000 @ 525

3000 20 735 4

Boyers Bellers 1220 1240

248

HK Dock.. 113 114

3000 @.7.1S

-

1000 $ 7,40

200 113

300 @ 20.30

20020,80

C. Provident 2080 2080

Caravelle jets bought by, United. The report, made by Mr African mining shares, over-Airlines of the United States; Raymond Pusch, for the Asso- shadowed by Congo situation, | and drove, downside at

first but steadled later. Buying In

elation on July 5 and released.

Another worth £300,000

to

for

a

last week, said that · dirring. 1959, freight rates were at rock bottom low level as a result of huge surplus of available tonnage.

advance of quarterly reports supply Dart engines mve some golds lift and Japanese airliner. coppers staged a late and minor. recovery.

Olls lost fractions and ended dub.:

Selected rubbers found favour after last week's shirp falls, Teas held steady-UPI

Closing Prices

*Güledged. Bonds

The Society added that the coming six months were also likely to be profitable.

Orders appeared likely from the American

For the naval construction Industry, the year was one of "eat" preoccupation because Riddle Airlines of the dwindling list of orders, for five Argosies the Germans lack of new orders and can- and Australians were Bisocellation," the report said, showing interest in

The common view is that

this air-

craft; from Germany and Japan there are "too many vesela and for the Rotodome and from a too many shipganda," the «re». number of South American port added, d Eirlines for the Comet and the Dárt Herald, 31 1981 Special

British Transport 3%, 1978/63--- 200-5/18.

Console 31%-44-5/8 Consols -20714. Conversion

Loan

200-9/16.

Funding Loun 20

£ki-9/16.

1000/期一

Funding Stock 34% 1900/2004- £66-5/15.

Funding Lost, 1860/90- 287-4/10.

6d.

Savings %, 1965/55-£28-5/16 d. Bavins 3. 1960/70-8-793. Savings 3%, 1985/75--2103% xuk.

Barclay's Bank "A" Ltd ord-5ts.

Chartered Bank-624 Jd. Hongkong-£615.

Lloyd's Bank 8"-dia-dd-

Lestrance

Union Insurance Canton-R5!%.· Aircraft and Motors

Brijish

10.

Martor Carp." "Ord-tás

Ford Motor Co-104.

Hawker Siddeley Group Ord-201

#anda Royce Lid Ord---548 4150,

Hectos Lop4"-10g #75d. Standard Triangh International

A

Opina

Greek tanker

to carry Russian oil

Mail

Nevertheless, it added that there was an increase of six to eight percent in one year in traffic on-the Suez, Kiel and Panama canals.

The low point, however, bai now been reached, the report believed, and the year 1980 should show the beginning of a new period of restoration of": the freight picture.

July 1, 1050, the

French

blue merchant fleet with 4,638,000

tons, represented only

Athens, July 11, cent of the world total: (126 - 935,000 Loris), and was in eighth SPOKESMAN of Soy-

place after the US with fract, a section of the 22,768,000. GITA Soylet hade delegation In Liberia - PaRRION, Norway. Gresso, sold today. We Japan, Italy, and Netherlanda. have had no difficulty in French tanker feet WWLE Fin fifth place aéter: Liberia » signing new charter parties Espams, Great Britain, Norway for the transportation of and the US, GA Dissociated Portland CentRussion crude oil since Esso's

1000 @ 20.702

500 € 20.70 HK Hotel.. 41% 43% 1800 41

HK Land .. 58-681

500

200 $135 250 5811⁄2 1500 50

Yaumati

176

180

Tram

C. Light

100 2242 1000

Electric

41 Telephone

1000

500 @ 381⁄2

G.L Cement 8216 Dalny

509 #3815

100

200 à 29,10

LEED #29.10

20

Watson 25 60. 28 1000 25.80 1000 23.80 Allied Inr, & 6.15 1000 8.10 5000 5.10 Textile

11.30. 11.40 1000 @ 114

Nanyang

Rubber

Tra

AffcOG Dock

Ferry

2000 @ 1136.

7000 1140

6000 31.40

£000 $11.30

3000 11,40 2500. 11.4D

4000 11.30

„1000 @ 1140

1000 2.11.40

10.10 19.90 1000 @ 150

·5000 @ 10.10

5000 19.10 3000 à 19,20

3000 18.20

$,70

50 100 50

14,500 də 5515 500 @ 68 500 5614 171): 200. » 109 - HR -14.80 14.70-500. 13.79

Int'l Etv.

8.00

Inv., (old): 14.50

8540 14.50 2000-1.30 B. 2000$,00 1000: 6,90

14.70

Bruwerles

Distillers Com

South African Breweries-233,

Building Trad. Materials **

101d

Hoodlum Wall & Lead Qed=8{# 10330

101

**Coni, Stool and Engineering... Babcock & Wilcox Lid-70 18£££ United Steele (5

Vickers Kids D.

Food and Tobacco

threats".

On April 1, 1950, France was eighth, in Loonage under: Colle stuction, behind Britkin, Jápia, He said a garter has just West Germany, Netherlands, boen signed with a Greck Italy, Sweden and the US owner of a 25,000 ton tanker AFP,

British American Top," "Co., Ltd- flying "the Greek fing to carry

Imperial Tobacco Co.,

Boardman Marden Lüdüb, 1011⁄2d.

Brush Oxygen Lid Ord-190% 91 Cenadian Pheme Rly-431

De La Rua Co. Ord—852, 3d, 125

Dunico Rubber Co--25 10

Giman Woking TAdmis

Ruslan oil from the Black Sea direct to Cuba

The spokesman said here will be no problem la signing future charter's with inde pendent triker owners to carry

Forging China Gula 50 4. Rusketi dil to any tart of the

Imperial Chemical a

Lying & Colo# * 10%;"

UBUSYFT Lid 110

Bowater Paper Corn (Ord-387 30,

•Radio and stalkričal

Associated Electrical =õis Electrical & Musicalm 601 TRE English Electric Cod

Indo-Ching Steam. Nay, Co, Bef

27 K

O Bleam Navigation def ord

Great Univer Stores

- Costa J. & P. Ltd

Courtaulda. Lii

Cona Goldields of Bouth Africa--|

Cons, Zizie

De Beery Hongkong

Bouther Union

World" APT

BEA show good profits

London, July.

MADE

B paction com

Australian

with Iran

months last sum announced today.

Even greater prifits) are RX+ pected this summer, N.

Lord Douglas "et: Kirtleside, chairman of BEA) Fmade the statements in the current edition of the HEA magazine: that

Canberra Just The total BRA profit from the 1959 tourist senkoli. (Izóti, ADEIL to October) was £25 millioný

Tosses in the five wint

of about 236hilllion

#Lord

NEW TORE!

Rex rubber futaites closing

all in cents par bezal

NEW ORLEA Closing prices all in cents per

Nov

uly

BURLASTIGAPOR

Straits

鮮

allin' pençe 'per

2. Other

Agreed merchant