1960-07-13 — Page 2

Pare Z

JAPANESE Popularity Factory for

of 'fivers'

London, July 12

The Bank of Englande annual report today show« ed there still aro

£1.000 banknotes in cit culation, or 16 fewer than

last your

Five pound notes pr "flyers" are increasingly popular while 21 poles are falling from favour.

Britain's total note issue has risen anly by £242 million over the past three years, but the circulation of "vera" has increased by £416 million in the same period at the expense of 21 notes-UPI.

London

closes

easier

London, July 12. The. international situation, Wall Street's overnight downturn and a spate of new issues combined to- day to keep stocks on the decline. Selling was light but brought sharp losses to industrials.

Paris

buyer of Was a Imperial Chemical Industries which went against the trend to

fraction higher, move while elsewhere the blue chips generally eased. Engineerings, textiles and electricals closed dull, but leading steels and stores showed an upturn near the final bell.

+

bonds Government

stayed friendless. Foreign bonds were mainly unchanged.

Gelds were a brighter look and scored gains ranging to five shillings. Mining Anance.

shared houses

the rally.

transistors

to be built

BY ALEXANDER THOMSON

THE CHINA MAITA WEDNESDAY, JULY

Shannon, July 12,

INVADE EIRE

HONGKONGI Wall Street

STOCK EXCHANGE

Our Own Can

Budiness daze. the Hong- kong Stock Exchange this morn- ing amounted to approximately

Mr Akira Suzuki from Tokyo bowed me $1,370,000. Noon quotations ant

a polite greeting. In perfect English tre said:

am quickly learning to become Irish":

He arrived here recently to start a factory for the Japanese Sany Corporation to make transistor radion.

Mr. Suzuki is 38. He is mar ried and has five children. With his wife and three of them he has set up house in nearby Limerick. The other two children are at school in Japan:

What brings Mr Suzuld and most of his family to Shannon, on the west coast of the Re- public of Ireland?

A new concept of the jet-age industrial development and a little matler" of "imperfal pre- ference besides.

Factory

On the fringe of the busy airport here International

handles four million which

250- passengers each year, a acre factory site is being built. The idea is that foreign firms shall By in raw material duty into finished free, turn them goods and fly them out again.

But there is also the paint that if 50 per cent or more of the cost of making goods has been spent in Ireland, they will be classed as Irish-made and so rank for atoms con- cessions wealth.

In the Common-

Said Mr Suzuki, against a background roar of jet-engines "Africa is the market where we aim eventually to sell Produce in our Irish factory.

"Mast African countries do

80

the morning's transactions:

Buyers Sellers

Shares

Waterbost

7.30

240

28.

Bales

7.35 2000 7.35 1000 7.35

HK Bank.. 1228) 1230) 141230 10 @ 1230 The Sony Corporation was Wharf Co... started by a team of Japanese Wheelock engineers In 1945 with £190. Now it has a captal of £900- 000. In the last three years ks sales have climbed, from £3.6 million to £8 million.

Dock,

TET

3000 7.30

112

200 @ 111

Provident. 20.80 20.80

Mr Suzuki insists that the UK. market will not be his HK hotel main objective. Even so, our HK and.. radio firms will hardly welcome the arrival of so vigorous concern bang on their doorstep. Especially now that some of the froth is being blown off their boom-London Express Service

411%

42

drops on late Refrigerated cargo

profit-taking

New York, July 12

Stocks were clipped back sharply in barrage of late profit-taking today.

Boeing Airpishe

Price erosion zierally was Bethlehem Steel ... slight in the early trading but picked up momentum sharply

around the close.

I

500111 It was the second decline in 400 112 now following yesterday's 340 20.60 heaviest selloff in nearby three 1000 20.80

400 4 20.600nths

58

500 20.70 Aircrafts generally countered 600414 the lower trend as international tencions continued to mount. But even the group showed signs of backing down in late selling

581

日

Tram

G. Light

$2 3214 22.20

-200 41 58 200-22.20 28.30 28.

200

54 5432

Germany's big

loan to

World Bank

Electric Telephone Cement

Dairy Farm 28.80 23.90

Watson ... $5.00 28.10 Alled Invest, # 610 Textile .... 11.40 1111

Nanyang

36:

100 63° 500 531

3311⁄2 54

330

500

200 or 34 200 € 29

Some coppers moved up in the wake of a fiming price picture. However, the group was well below its high at the finish. Owens Illinois dropped around. in the blue chips where Du Pont and Easkman Kodak lost 3 or Moro, IBM

500 23.90 toppled anotind 13 in the

8000 @ 11.35 2600119

500 10 40001 18.10 19.30 25000

4000 #19.20 1000-19.25

electronics.

Today's volume was 2,860,000 shares.

of # total 1,216 shores traded 274 were higher and 738 lower.

American exchance volume.

2000 1940 was 1,040,000 shares.

Borden (They Co./../. Burroughs Add Machine

British Amer, On

British Columbia Per. Call Packing Corp. Care, Bharat Comet,

and Brewers

Campbell Soup Co.'

Canadian Pacific R. Case (J. Co. calanese Corp. Cat: Tracto

Tinancial Corp Chrysler Motors Chase - Manhat. Bank Cruet Peabody Colgate Palmolive Colombian Carbon Co. Commercial Credit Consolidated Edison Continental Cad Continental Olf of Del. Crane Co... Crown Zellerbach Delaware & Rudson Co. Cuban Amer. Sugar

Diamond Alkali Diamond Gård

Distillers-Seagrams

Dominion Stores Douglas Aistraft Paw Chemical Par Duport de Nemours Eastern Air Line 20 Eartman Kodek

Pisu, National Gas Family Finance Corp.

| Firet Haf: City Bank

Ford Motor Co. of Cana Ford Motor

Georgia Pacific

Bonds volume amounted to General Dynamica $5,050,000.

Cléneral Electric

General Foods

General Motors

Dow Jones closing averages on Pub Ul.

3000 19.20

2000 de 1920

A. Fubber

6.30

* 10000 #7

2000 6.95

8.45 8.45 300

6.90 B.00 @6.58

wene:

» 8:45

30 Industrials

20 RAU

15 Utilities

Washington, July 12. The World Bank has ar- Rubber T.

ranged to "borrow the equivalent of £85,480,000 from the Deutsche Bun- desbank, the Central Bank Talk Dock of Germany, it was an- nounced today.

Realty

HK GUN

1:825 1.875 6000

14.00 14.70

1.85 FOOD 1875

·B80 @ 14.20 300 14.00 14.60

100 14.70 1000 / 8.90

500 @ 18:30

231 23.70 2400 23,70

The bank said it was not only the largest borrowing

Int'l Invest, 8.5 ever vibro undertaken

by the institution Humphreys outside the United States, but also its largest borrowing any- where, since

no. Lague

of

Coppers turned buoyant helped per cent of the radios we shall £89,050,000 of bonds was sold |

by the higher price for the red

metal.

This lost round while not allow, in Japanese radios. diamonds improvert.

Oils

in the US. in 1947.

were shaky from the Some of our rivals get there by Mr Eugene Black, the Bank's

outset and moved erratically. Rubbers were mixed and teas drifted lower-UPI.

Closing Prices

Gilted god Bonda British Transport 37%.

£60-3/16.

Consub 24%£44-5/16. Consols 4%£67.

1978/88-

by backdoor methods. The Sony Corporation does not like to trade that way."

I asked: "Do you regard setting up here in Shannon as E frontdoor means of entry?"

"Most certainly," said smiling Mr Suzuki.

The transaction was hailed

president, who declared in an accompanying statement;

"The willingness of Germany. to lend this large amount to the World Bank is stating test- mony to the desire of Germany

to

Agreed merchant rates

05 Stocks

40 Bonda

Comum. future price Index

Closing Prices

|Abitibi. Pwr, & Paper

Alden: Ine? Any:

Algoma Steel Corp. Allied : Chemicals Allied Mills, Inc. Allis Chalmers Art. Brake 'Shon Ameright. AlEURS Am. Catile & Radio Corp.

| American_Cyanamid. Co. Amèr;”& Forgn, Power Am!" "Gas & Electric

Swiss Frans, maximum sell. Am. Home Prod. ing 75-1/10..

W. German Deutschemarks, maximum selling 72-0/10.

Exchange rates

An. Mach. & P'dry. American Metal Am. Natural Gas American Smelting Am. Sugar Ref. American. Tel & Tei American ToD. Ampex

Anaconda Copper Armco Steel Armour

assist in the economie advancement of the under There are other advantages developed areas of the world. Ii for the Sony Corporation as also gives evidence of the energy Funding Loas 2%, 1959/00- well. Some European coun- and resourcefulness of the Ger- Funding Stock No2, 1999/2004- tries still frown an imports man people. The World Bank ugodicial exchange market this Baltimore & Ohio

from Japan.

Conversion Loan 2001/16.

281-11/16.

914

1081---

204

2811

Saving

Funding Loan 4% 1900/90--

3%, 1865/66——288話 Savinga 3 1960/70-279-7/18. Savings, 1985/76-70%

Baske

Barclay's Bank "A" Ltd ord-518

3d Chartered Bank-$25.

Hongkong-23 COT. Lloyd's Bank "Als 3d.

Insurance

Union Insurance Canton-£6. Aircraft and Motors

Motor Corp. Ord-1ds

Brilist

Ford Motor Co-1038 1154. Hawker Siddeley Group Ord-29s

Rolls Royce Ltd Ord-53, 4ķ1⁄2d Rootes Ltd "A"--100 $0. Standard Triumph Internationa!-- Es 1d.

Breweries

K.

Distillers Co-38% 9d. South African Breweries-23

Building and Materials Astoelated Portland Cement-04s 15

Goodiars Wall & Lead Ord-618 1150.

Coal, Steel and Engineering Babcock & Wilcox Ltd-38% 10d. United Steel? B.

Vickers Lid-32x 434d.

Food and Tobacco

6.71

Businem was done in the local

morning at the following ratea: greatly appreciates the peflon US dollar (per $1)

the | Sterling holes (per £1) "Made in Ireland" label willken by the officials in help them there too as well as Bundesbank and in the govern Australian notes (per £1) ....

ment to make this transaction Indonesian rupiah (per 100) in the British market.

Siam teals (per 100) posible."--Reuter

Singapore (Straits)

New estate

In the new industrial estate

on the airport's perimeter, six foreign-owned firms are

already being established, Besides Sony of Japan there are three American, one. Dutch and one German. They will turn out a variety of light products,

But their goods will all have ane thing in common. They will be classed as Irish-made.

"In addition, two British firms have come here to make knit- wear and a new textile mark- ing machine.

144-04

The attraction for them is the availability of labour and the full VIP treatment the Irish Government is offering for its jet-age plan:

'

1b.:

British American Tob. Co., Ltd 588 3d.

Co., Imperial Tobacco

25iscellaneous Boardman Marden Lids 10d. British Oxygen Ltd. Ord-100s 6d.

34.

Canadian Pacifle. Riy-4424.

De La Rue Co.. Ord-833d.

Dniep Rubber Cost

Gliman Holding L4-2.448.

Imperial Chemicals

a

: • Factories are provided at rentals of as low as 1s 3d square foot.

2

Non-repayable grants are

Hongkong & China, C-168 64 a. given to cover as much as half

Lyons & Co 80% 4}{d

Unilever Lid-100%

Paper

Bowater Paper Corp Ord-M78: Id Radin and÷Klectrical'A

Asociated Electrical-615. Electrical & Musical-480 3d. English Electric Co38 90. General Electrio-1585

****w by +Shipping

Indo-China - Steam May. Co ordine 54NA

the cost of plant and machinery and the full cost of training the workers,

*• Profits are tax free for a

period of 25 years,

Mr Suzuki is starting his plant in a small way. He has two def Japanese engineers training 10 boys and six girls aged from 16 to 20.

P&O Steam Navigation defiord

Debenhams, Lid. Ozdtem við. Great Universe: Stres

Marks&Spencer Ltd Wadworth

Coats & Plan Courtaulds Lid-800 T150.

Cons Goldfelis ipf South Afric Con Zing Corp. Dry

De Boers dIALES

Honour Th 7 0 Peining Tin

Southern Kints Cone La Union-Corp-808 4560)- West; Diefonte

Árliini, Romeo, Petroleum

oleum? Cq, Lole

But his target looks ambitious, It is to start with an output ös $,000 transistor, radios a month and work up to 10.000 by the end of next year and 20,000 subsequently.

Portable sets

N

At first

Con how

We can a train Four 5 local

Yesterday's Closing

COMMODITY

SUGAR

cents per

NEW YORK Closing prices alvin

Contract No. 4 (world) Sept:"127-21; "Det: 8.zi Jibe Mar 1.18 May?" M11, July!! Spok-(7.-3. Cuba): #125.

"Total Silen." 445 contéacÁK, Open Intererti 3,215-contracts.

Pontzuet No. 6" (domestle) M Sept: 607 Nov: 6.00 5050-101.4. NYx-duty):31 08.17

"Total Sales: 13 contracts,

Open Interest: 3,071 contracts --

UPI

Ib.

NEW YORK Closing prices all in cents per

Asbestos Corp. Atlas Cons. Mining Baldwin-Idma-Ham.

Bank of Montreal Bank of Nova Scotin 15.88 Beech--Life Savers 129 Bell Telephone:

2.50 Benefcial Financs 2595 | Bendix Aviation: Corp.

180 Benguet Cons.

American Contrectati

July/Aug

Oct/Nov.

Dec./Tan MA

23.50-

PRICES

LONDON

carrier has 24 derricks

A

11,850 tons gross refrigerated carro liner, with 24 derricks was launched recently at the Belfast yard of Harland and Wolff.

The vessel is 512, £t. recall

and has moulded breadth of

70ft,Shé 1 of the complete superstructure pe designed

New

British

an insdern lines with a strut tanker delivered

well" raked

rounded stom

ruiser sem, two masts and a single" oval: funnel.

There the three complete.

30 decks, a lower deck and

7,200

A oil tanker of 47.2

tons deadweight recent

Nos. 2 and 3 bold; & tunnelly went into the service of deck. aft of the machinery the Pacific Steam Navigation space, forecastle, long bridge, Company from the Belfast boat; and navigating bridge yard of Harland and Wolff,

Ltd..

deck's

?

The hull is divided into nine Narnest, the William Wheel- watertight compartments by wright, she is a single screw

| -2917] eight wahrlight bulkheads, all turbine oil tanker with a length

of which, accept for the after-between perpendiculars of 716 836 most bulkhead, extend to theft. She has a moulded breadth

shelter Beck

of 98 ft. and the depth moulded-

205

130

Having a curved raked stem md cruiser stern, the hull is constructed on the longitudinal system of framing with two lon- gitudinal bulkheads and is divid ed by athwartship bulkheads into twelve sets of cargo oil-carrying

There is compartments

A double bottom is tied fore to the upper deck 52 ft. 6 in. and Eft and arranged for the I carriage, of fresh water, water ballast, oil fuel, and lubricating Toll, the fore and after peaks 54% being ranged

for water ballast. Oll fuel tanks are also amratiged at the sides of the shaft tungel under Nos. 4 and main cargo pamproom and a for- 57% 5 holds. 1331

88

130

Gen. Tyre & Rubber Getty Ou

634.12 Glidden Co. 139.71 Goodrich (B. Co

94.09 Goodyear Tyre 209 20 Grumman Aircraft

83.27 Gulf O 144.74 Harmon Organ

$394

Heyden Newport Corp. Hiram Walker ..... Homestake Mining Co. Husman · Refrig; Idaho Power

50% Imperial Oil

31% Imperial Tobacco

53% | Ingersoll-Rand

Inland Steel Co.

281

Interchemical Corp.

41

19

Int'l Business Machines Int Harvester

614 International Nicics!

6934 International Paper

Int'l Tel ATTE

52% Johns Manville Co

177

Kaiser. Industries)

Kansas C. Power & Light

211⁄2 Kennecott Copper

$44 Kimberly Clark

5024 Taggett & Myers Tab. Co.

28 Lily Tulp

6914tion Ind

37% | Lockheed Aircraft

35%% | Loewe : Incorp.

19% Lone Star Cement Co.

Lowenstein & Bons,

1234 McDermott J. Bay

McDonnell Afterači

63

Merck

13

Minnesota Mining

やんさん

403%

Mission Develogaiunt

Molson Brewery

Montanto Chemical Co. Montecatini

Montgomery Ward,

2012 National Biscuit Co. 04% National Cash Reg.

National Dairy Prod, National Lead National Steel Corp New York Centrsű Noranda Mines Ltd. Norfolk & Western Ry North Amer. Aviation Northwest Airlines (Com) Oklahoma Nat, Cas Olin Mathieson Oil Elevators Owen-nola “Cinem Oxford Paper Co Paciile Gas: & Elec. Pan American Airways Paramount Pictures

35.03

Parke Davis Co.

Penn, Salt, Co.

Philip Morris

Pitney Bowes

Procter & Gamble Co.

Pittsbung Plate Glass

Closing prices el in pence Publicker Industries

LIVERPOOL

Mar

Closing prices all in pence pur

May

July

7b.

per 1b.:

No. 1 Ropot

Settlement house term:

Jury/Sept

Oet/Dec.

Jan./Mar.

Apr/May

porte:

July

Aus

Bept.

Mixed Contract

Judy/Aug

Dec/Jan

MBE ZADELI

材料

METALS

NEW YORK

નવ ક

Closing prices, all in cents per

COTTON

b Land

July

Sept.

Zing y

Sept.

Copper Toky Bept

Cloring pr

32.90 30.90

per long ton

·31:44

31.78

Ti spot

31.80

31:58

3180

Lead

Zine: 1st

ORLEANS

Closing prices all in cents per

RESE

REBBER

Pure Oll

3115-814 Halo, Corp. Pref.

Radio Corporation:

-31.46

Raythena

Republic Steel

313 Reynolds Metal

Reynolds Tobacco

36

Royal Bank of Canada,

General markets, c.lf basle, Royal Dutch

Delate creps then fully...

thick

AMSTERDAM

Rheem_Mfg,

Sears, Roebuck & Co.

316-314

31%%-51% | Baleway: Stores.

Faint Reg. Paper

Schenley Inc..

Scots: Paper

Biegler Corp.

Closing prices all in guilders Bunchirpur

per kilogram, e,1.1.. July,

No. 1 rubber

No. 1 rubber

No.3 rubber...

No. I crepe

Smith, Kine #2) punch

208 buyers Bocnychher

304 Buyer Bouth Pubito Rico Bug

24 baryers Southern Co. (The) 343 buyers Southern Natural Gas

UEL Southern Hallway (Com

FOREIGN

ENCHANGI

Standard on 627 Standiltä Oil or NJ

Steel Co. of Canada

Rook

one

ward pum.proom, two coffer- There are six main cargo dams and deep tanks forward halds, three forward and three for oll fuel 361 aft of the machinery space with

Wing bunkers at the forward end of the engine room and the corresponding 'tween deck's e

The holds end tween decks double bottom under the engine served by large cargo room are also arranged for the carriage of all fuel. The fore hatches, those on the weather and aft peak tanica, are arranged deck being fitted with for water ballasta MacGregor patent single pull Covers,

Equipment for rapid working includes ateam driven pumps for

The cargo handling equipment dealing with the curso all, steam comprises one 60 ton, one 26 driven winches, cable lifters and fod, four 12 ton, two 7 ton, eix cinstans. The electric hydrau 5 ton and ten 3 ton tubular steel le steering gear, is operated derricks and twelve 3 lon and from the wheelhouse. by com- ten 5 ton electric ego winches, bined electric and telemotor cach winch being operated by control and by direct control

deck remote control. A 7 ton desrlek from the after boat 5534 is also provided for dealing with Ample and comfortable machinery parts through engine commodation including

lounge is provided amidships room skylight.

4056

53

10

50%

An electric windlass is fitted for captain and navigation 8116 on the forecastle, deck and two officers and on the boat deck electric warping capstans are aff, goop, and upper deck aft for engineer officers, petty officers 30 fitted att 10% The yousel has a streamlined and crew!-

rudder operated by electro- A large dining saloon with amokeruum, petty adjoining hydraulic steering gear com trolled from the wheelhouse by officers mess with adjoining 10% telemotor. "

smokeroom and a mess room for The captain's accommodation, the crew are arranged on the wheelhouse and chart room are poop deck convenient to galley 1803 arranged in a deck house on the and pantries. An officer por ta

navigating bridge, the officers tion room is situated on the and engineers accommodation, poop leck and the crew's re- including their smokerooms and creation room is under the upper general rooms, in decidhouses on deck. the boat deck, and the dining |_**)

The propelling machinery

30094

saloon, galley and accommoda- made by Harland and wolk Lindted consists of a single tion for the petty once screw arrangement of double, re- 18% stewards, seamen and greduction articulated type geared 40 with their mess and recreation turbines developing a total of rooms are arranged in deck 15,000 shaft horse power in ner- housing on the bridge deck.vice.

Mechanical ventilation, pune

kah louvre systems, is provided Stearn at a working

of 600 lbar per sq. in. 564 throughout the accommodation | temperature of 950

45

The propelling machinery Fahrenheit at the 601% consista of, ma single-acting outlet is genera Harland Burmeister and, Wain code and 11812

eight-cylinder, pressure induc- Superheat

tion two-cycle, engine of the They are complet

ulders latest opposed piston

art

71% design with exhaust pistons controlled by excentrics on the 02ankshaft. The bore of the burning

main cylinders » de 750 mm, and

the combined stroke 2000 mm.

The engine

tally-en-

closed, forené lubricated heet British seamen

reversing and arranged for air-

Zem injection of beary

fuel off, and, when required strike spreads

diesel grade fuel oll. The en-

Eine is coupled direct propeller shafting, and Bervatively rated to

the required power at 110

Japanese to buy

UK whaling fleet

On

men were

total

claim for

reso girls are capable of such, one wych (we have to find & cut what izan giria can do t