Page Z
WALL STREET PRICES CONTINUE TO DROP
New York, Aug. 3.
14
Stocks declined again today with all but a few groups
resisting the downtrend.
The loss eased $2 billion from market valuations or a total of $5 billion including yesterday's setbacks.
Some late buying helped a fow the aircraft and steel, issues to rise from their lows, but overall the market <{}~ peared to fall of its own weight, Electronics Arm in the early, tracing, went into a slide after
the second hour, IBM fell mare and Zenith a point than three Chemicals
among were heavier casualties, while drugs were mixed,
Canadian Pacile R. Case (J. 1 Co. Eat Tractor
Celanese Corp.
C. 1. T. Financial Corp. Chrysler Motors Cult Peabody Commercial Credit Gnsolidated Edison Consolidated Paper Consumers Gas
Continentas Can
Continental Oil of Del Creek Pel
Crane Co.
Chiban American Sugar
Delaware & Hudson Co.
the
Diamond Alkali
Diansund Gard
Today's volume was 2,470,000. shares. Of a total 1,182 shares traded, 403 were higher and 563 lower.
American exchange volume
was 770,000 shares.
Distillers-Seagrems Dominion Stores Douglas Aircraft Dow Chegoal Dupont de Nemours Castern Air Line Eastman Kodak
Bunds volume amounted to First Nat. City Bank
$4,680,000,
Dow Jones closing averages Georghi Pacific
were:
30 Industrial
20 Rails
15 Utilities
05 Stocks
608.69 General Electric
133.02
au Bonds
Comm. Future Price Index ..
Closing prices
02.54
201.55
General Motors
84.30 Gen. Tel. & Elez 143 98 Gen. Tyre & Rubber
Gondyear Tyre
Girnt Northeh Raway
$362 Grumman Aircraft
Heyden Newport Corp.
Allied Chemicals
2 | Noranda Mines Ltd. 10%
23
Norfolk & Western Ry.
North Amer. Aviation ... Northwest Airlines (Com) pa. Oklahama Nat. Gas Oft Mathieson Otis Elevators Owen-Binola Glass
365
621 Oxford Paper Co.
THE CHINA MAIL, THURSDAY, AUGUST
1960.
HONGKONG London closes!
STOCK
EXCHANGE
by
Our Own Correspond zat
to
this
Business done at the Hong- Stock Exchange 38 kong
amounted 83 morning 41proximately $1,188,000. Noon quotations and the morning's transactions;
פא
dull and
featureless
London, Aug. 3.
ap-The London Stock Exchange was largely dull and featureless in quiet trading today. Leading "industrials closed with minor gains after a
hesitant beginning.
514
102
Sharer Buyers Sellers
Balei
Pacifle Ĝi & Elec.
43% HK Bank
Pan American Airways Paramount Pictures
56%
Penity J. C. Co.
Penn Salt Co..
Union Ine
Philip Morris
694
Whart Co
1100 1005
901 9011⁄2 240
81195 37 11
Pitney Bowes
Wheelock
51
Procter & Gamble Co.
HK Dock
7.45 100
l'ittsbury Plate Glass
Provident
HK Hotel HK Land
49.00 20.10 2300
41 4134
303 **
344 Portland Gen. Elec.
Publieker Industries
Pullman
Pure Oil
份
423%
1243% Schenley Inc.
Scott Paper
244 | Siegler Corp.
Sinclair O!
Smith, Kiine & French
13% Sconony Mobil Oil
Solar Aircraft
31 South Puerto Rico Sugar
Standard Oil of Cal.
184 Standard Oil of Ind.
79000 € 7.45 100 200 108
149 65715 400 58 40356
5318)
20 a 13:
100 g) 189
450 5.331
British government bonds, attracted little attention. U.S. i doilar stocks were marked down in sympathy with the trend in the previous Wall Street session.
Mining shares declined. Olls were quiet and irregular.-- AP..
Closing prices
Gilledrad Bonda
British Transport 3. 1870/8
345%, 1961-
1959/00-- 3%
Паска Barclay's Bank "A" Ltd ord–184. no Chartered Bank-51s. Hongkong-20
Rubber
Less ships being
built in Britain
market and N. Ireland
review
New York, Aug. 3. Rex rubber futures today 2009.
Coneels 2-£44.
closed unchanged to 56 Canals £68-9/18. Conversion Loon
points lower on sales of eight contracts, Long Funding 4813
With dealings the thinnest Funding Stock 35%, 1999/2004-in weeks, only light selling, £54.
1960, 90-prompted by lower prices and Funding Lorn
hack of interest at primary markets, was enough to drag futuras down considerably in several positions. There was factory buying and ittle dealer interest.
The current monahh for No. 1 quoted at 38 cents, Rsx was nominally.
In London, the rubber market closed very, quiet with spot at 3014. No. 1 Rss spot quoted at 30% 30% with no business,
In Singapore, most of the session was very quiet with nervous Buctuations at lower levels which reflected the thin- ness of the market. There was some enquiry for lower sheets which found pellers reluctant to the offer any quotations and market closed quletty,
Lloyd's Bank “A”-028 Pd. National & Grindlays Bank-195. Westminster Bank" "A" 14%
Non-Cumulative-42s.
Insurance
Union Insurance Canton-25-13/14,
39%
801
1904
Radio Corportion
Radio Corp. Pref.
117
Ray thron
200
El Paso Catural Gas
Republic Steel
Yaumati
181 182
Family Finance Corp
2042
Reynolds Metal
Firestone Tire & Rubber
344
Reynolds Tobacco
Royal Bank of Canada
100 12%
Ford Motor Co. of Cana Ford Matur
Royal Dutch
1231
Rheem MI
HK Tram
•
31% 3214
2000
100
Sears, Roebuck & Co.
600
· Shell Oll Co.
General Dynamics
43%
Safeway Stores
79
Ch.
Saint Reg. Paper
General Fouds
Gen. Pub. ll.
Light Pleclic .. 2890 8.30 Telephone. 382 387%
22 22.20 1030
100 6 28.3) 300 & 381⁄2 300
2831
5004 934
£1-5/15.
52
1000 3827
Gelly Oil Goodrich
30
Savings 3, 1955/85-287-11/16. Savings 3%, 1900/70-£76.
B. F. Co.
5731
Ceinent
54
5316
Savings 3, 1864/78-270-9/10.
35!
4612 Southern Co. (The)
31
Southern Natural Gas
54
Abida Pyr. & Paper
Alden Ing. Acy.
48-Gulf Oil
27
Southern Pacific Co.
300 a 54
Alguma Steel Corp.
30
Hummend Drgan
3516
614
2276
Southern Railway (Com.) Sperry Rand
500
54
Allied Mills Inc.
33
Homestake Mining Co.
432 Standard Brands
Dairy Farm 28.40 28.60
52317
+40
100
281
Allis Chalmers
2011⁄2 Hussman Refrig
1000
281
Am Brake Shoe
39% Teh Power
$3
700
2815
Standard Oil of
American Airline
18
Imperial Oi
31
Am. Cable & Radio Corp.
8
Imperial Tobacco
Sterling Drug Co.
5833
11
American Cynnamid Co.
52%
60% Stone & Webster
Sinkely-Vam Camp.
Watson 14 | Alised
24.40 2500
-500 25.60
Inv. 3.90
50
Am. & Forgn, Power
$3
Studebaker-Packard Corp.
Textile Ex.
All
3.65
SA
1000 for 8.08
Am. Gas & Electric
5001, Surine Mining
広
At Home Prod.
175
Int'l Harvester
45% Swift & Co.
4072
5094
International Nickel
53%
Texas Co.
American Metal
1
International Paper
19%
Am. Natural Gas
684
La Tel & Tel
40
"American" Smelting
52
Issue
Johns Manville Co.
18
Am. Sugar Ret.
9
355
B3
American Tob
521
Кеппесі Copper
241
Travellers Inc.
10
Kimberly Clark
727T-Cont. Warrants
231
Amal.
31%
48
Laggett & Myers Tob Co.
Twentieth Century Fox Film
36
Rubber
8.00
.
311
Lily Hullp...
Union Carbide
135
Rubber
Union 01 of Cal.
41
Trust
Litton Ind
$11
221%
Lockheed Aircraf
Union Pacife Railway
Talkoo Dock
41
13
Loews Incorp.
Baltimore & Ohlo
33
Lone Star Cement Co.
307
2010 Humphrey
22.70
Bank of Montreal
58
361 Realty
Bank of Nova Scotia
58
10
Beech Life Savers
21
U.S. Gypam
99
us. Line Co.
2714
Star
169 173
1.00 1.825 15000 10000
100 110
150
1.80
. C. Tel. Co.
44
Bell Telephone.
Merck
213 US. Rubber
100 @ 170
85 U.S. Smelting
HK Gas
14.70 14.93
Beneficial Finance
30
Mesab Iron Corp.
17
US Steel
80
Bendix Aviation Curp.
573
Minnesota Mining
144
Benguet Cons
Mission Development
17
Warner Bros.
45
Belchem Steel
43%
Monsanto Chemical Co
3924
Waukesha Motore
341
Bucing Airplane
31
Montgomery Ward
391 Westinghouse Air Brake
M
Borden (The) Co.
492%
Motorola Inc.
70
Westinghouse Electric
531
Burroughs Add Machine
National Biscuit Co.
Western Union Tel Co.
14
Int'l Inv.
9.00
..
British Amer. Cl
2502
National Cash Reg. "A"
5012
West Va. Pulp & Paper
38
HKFE Inv.
British Columbia Pwr
38
National Dairy Prod
;
Winn-Dixie. Stores
Calif. Packing Corp.
National Lead
B
Woolworth (K. W.)
64%
Cana. Bk. of Comm,
National Steel Corp.
7619 Zenith Radio 19%
(New) Gumes Lee, Craw
13,00
-UPL
Vibro
195 2.025 42 15.30
100 #741
Am. Mach. & F'dry.
American Tel & Tel
Ampex
Anaconda Copper
Armour
Asbestos Corp.
Altos Cons. Mining
Baldwin-Lima-Ham.
Campbell Soup Ca.
Ingersoll-Rand
Interchemical Corp.
63% Int'l Business Machines
2834 Kaiser Industries
Lorillard P........
Lowenstein & Sons
McDermott J. May
McDonnell Aircraft
New York Central
979 | Textron Inc.
Thioke! Chem.
54% Tide Water Of
Traders Finance
214 United Algraft
United Fruit
United Gas Corp.
30 US. Foll "B"
71k US Steel 7 PC. PF
On The Route of the Magic Carpet
75 Nanyang MSX”),
Ex. Bonus
I take you to 5 continents and many distant
lands with gentle hand maidens to wait on you,
whenever you fly
AIR-INDIA
Alresalt and Motors Brička Motor Corp. Ord-16 1150. Ford Motor Co-06 d. Hawker Siddeley Group Ord-20s
1000 8.65
. 500 8.70
14.10 14.40 2000 14.20
2000 G7 14.20 500 14.30
8.45 8.58 1000 85 600531
50
100 04
100 22.80
Rolls Royce Ltd Ord... 425 5d. Rootes Ltd "A"~88_6319, Standard Trumph International
Bs 10150.
Breweries Distillers Co-10 dd South African Breweries-25% #4. Building & Materials Associated "Portland Cement 67#
Goodinsa Well & Lead Ord-30s 34.
Coal, Steel and Engineering
Babcock & Wilcox Les 104
United Steel-799, Vickers Lid-Sia 60.
Food and Tobaces British American Tob. Co., Lid- 56s d 140 14.60
140 14.00
140 62 14.70
170 14.70 140 14.80
300 1470
d.
Imperial Tobacca
Co., Ltd-130
Miscellaneous
4154.
Boardenan Marden Lig- $15. British Oxygen Lid. Ord-1636. Canadian Pacific Aly--$42. De La Rue Co. Ord—88%, Dunty Rubber Co- Gilman Holding Ltd-2a Bijd. Hongkong & Chuna Gas-15/-. Imperial Chemica)-635 9. Lyons & Com-80% Tyd. Unilever Lid-157» Jul.
Paper
Bowater 7ład.
Paper Corp Drd-5t
Radio and Electrical Associated Electrical-60% 6d. Electrical & Musical 458 English Electric Co-378 6. General Electric 354 8d.
.
•
Indo-China ord283.
Easley conditions prevailed in the early afternoon with prices about obe-half of a cent below the moon level, Lower sheets were neglected-UPI.
U.S. - Russian talks on air agreement
London, Aug. 2. STEAMSHIPS and motorships under construction in Great Britain and Northern Ireland at the end of June totalled 261 ships of 1,866,288 tona
gross.
This was 84,963 tons less than A total of 840,105 tons was the previous quarter, and the being built abroad for Great lowest figure since September, Britain and Northern Ireland; a 1945, according to Lloyd's Re-decrease of 21/925 tons gister shipbuilding returns for since last quarter, the report the quarter ended June 30. continued.
The total comprised 88 ships Oil tankers totalled 65 ships of 599,923 tons fitting out of 895,175 tons gross, which was afloat, end 173 of 1,266,365 95,051 tons less than jest quar- tons, still to be launched. Dar-ter, and represents. 48 per cent the quarter, 69 ships of of the total tonnage under con- 273,813 tons were started, 71 of struction in Britain. 345,958 tons launched and 76 of 377.477 tons completed.
Steamships and motorships under construction abroad at It was stated that the ton- the end of June totalled 1,203 nage launched maintained ap- ships of 7,257,887 tons gross, proximately the average out- decrease of 148,436 tons since
last put of the past three years.
quarter. Tonnage under The fall in tonnage under construction in leading countries construction was due to com- abroad included Japan $81,028 pletions which were well above tons 136,271 more than previous the average, coupled with a low quarter); West Germany 929, 820 tons (1,371 tons less); and gure of tonnage commenced.
the U.S.A. 619,457 tons (69,205 HOPEFUL SIGN
tons less).
Because of the unsettled out- look for the shipbuilding Indus- try in general, no special signi ficance was attached to the variations shown for individual countries, the report said.
It was said to be a hopeful sign that the figure of tormage commenced showed a cobalder- able increase over the previous quarter while toonage "proper- Ing (ships for which plans have been approved or material
Tonnage intended for regis- ordered but which have nottration elsewhere than in the |been commenced) had risen for country of build, showed a de- the second consecutive quarter crease of 80,252 tons to 3,022,292 after a steady fall during the past three years.
tons (41.8 per cent of the total under construction abroad, in- cluding 340,105 tons in Great Britain and Northern Ireland,
In the world there were under construction 1,464 ships of 9,124,175 tons gross, of which 20.5 per cent was being
Great Britain built Northern Ireland.
The present figure of tonnage preparing"-978,827 tons-was 41,350 tons more than in March. Tonnage under construction for registration abroad amount- Washington, Aug. §. The head of a visiting Soviet d to 31 ships of 238,835 tons, civil aviation delegation saldresenting 14.7 per cent of in today "the doors are open for total tornage being bukt the United States to negotiate Britain, the report said.
These figures compared very an air route agreement with
poorly with the peak reached Russia,
In September, 1950 (825,745 tom-40.4 per cent), but were an improvement on March this and Northern Ireland, the re- year (200,516 tons-10.2 per port added. China Mail
Special cent).
Shipping
The delegation, headed by Steam Nay. Co. der Lieutenant-General Georgi S. P&O Steam Navigation def ord-Schetchikov, First Deputy Chief of Aeroflot, arrived in Washing- ton yesterday to begin a three- week Inspection of major U.S. civilian airports and facilities. Reuter.
Stores Debenhama, Lia. Ord-434 74d, Great
Universal Store "As 10150.
Marks & Spencer Lid 80s 3d. Woolworth F. W. & Co-86 2.
Textiles
Coats J & PL-67. Courtaulda Lid--639 1150,
Miner
Con Goldfields of South Africa--
58# Bd
Conk. Zine Corp. Ord- De Beers de-1989 d. Hongkong Tin—lis 444.
Dd
Petaling Tin-7 Tigd."
Rand-la 34.
34.
Bouthern Kinta Cons Ltd-28. Od. Union Corp-499 60.
West Driefontein Goldmining-791
Ou
Brition Borneo Petroleum cale 42% 60-
33.
3d.
Byndi-
British Burmah Petroleum-is ed, British Petroleum Co. Ltd-
Burnah-400 34.
Royal Dutch Petroleum-12-21/22. Shell Transport & Trading
***Reuter.
Yesterday's Closing
World construction of all tankers amounted to 243 ships of 4,338,813 tone gross, of which 1,005,481 tons were for registration in Great Britain
Agreed merchant COMMODITY PRICES
rates
Canadian $ Maximum Selling 16-15/16; Minimum Buying 17-3/16 T/T, 17% 0/D.
Exchange rates
Bustness unofficial
was done in the local exchange market this
RUBBER
NEW ORLEANS Closing prices all in cents
Barb.:
Boot
Oct.
Day.
More.
May
NEW YORK
Rex rubber futures closing
Od.
5.59
****
15.85
prices, all in ounts per lb.:
Des
Mar.
12.52
Sept
May
Indonesian rupiah (per 100) Stam tieste (per 100) Singapore (Strails)
2.89
Nov.
36.106
24.10
Jea
M400
1.51
Mac.
39.256
May
95206
July
34.750
morning at the following rates: US. dollar (per $1) Sterling notes (per (21) Australian notes (per 21)
On my magic carpet of love.
thrills and laughter I take you to a fabulous.
Wonderland
1
you will never want to leave!
A land of wonderful sights and sounds
in the UPA Columbia Release
1001 ARABIAN NIGHTS
A One full-length animated
feature film, a fantasy in
colour starring the nearsighted Mr. Magoo
and Alladin..
38 888 88
Today at ROYAL & STATE
Theatres.
२००२०००-
CANADA'S LARGEST
LIFE ASSURANCE COMPANY
OFFERS YOU £4,315 AT AGE 55
Men or women, under 65 by setting sajde regular monthly, half-yearly or yearly amounts under the SUN LIFE ASSURANCE COMPANY OF CANADA pud can, for example, receive, étage 30 à·ligroD HIM CANU for tampr 24,833 for women—or & private income for life of 2254 a year. Ámy accumulated dividends would be paid in addition. If you are somewhat older than i now, the trusts of you saying would come at, ser, 63 or 65.
•
LI30 FOR YOUR FAMILY, H you do not Byne to continue payments regularly until you are $5. your family would receive READ, INCOME TAX SAVED. While you are saving for your later years la this way, you would be entitled to the proper amount of relief from and Income Tax you are now, PAYING,
JAFEGUARDS FOR YOU, Guaranteed mfeguards promised by the Company would help you to pyercome ang inancial dimoutties you might meet on the way.
The slay at the cash sum as brivate ineome depends upon your yiidise and the amount you regularly set aside. "Adipisinents can be made 15 suft your personal requirements ares or all. By Milling in and sending the enquiry form (postage 5 cents if unsealed)" y can obtain Ball details milled to you personally.
You are under no obligation i gos uk for integration.
(Ag. Manager, Hong Kongi
SUN LIFE OF CANADA
217, Siloucester Building, Bol's Kong.
I should like to know more about your Play as adváŋi
wyjhauf ́ineserting any obligation,
J
SINGAPORE
Closing prices all in Straits conta per lb. 1.o.b. Melayan
ports
No. 1
AME
NO. 4 AM
Agurk rubber tanhaled
LONDON
METALS
NEW YORK
Closing prices, all in cents per
1071%
1073/
1b.: Lend
No: à Aug.
Sept.
BO..
Nov. Zine
Bicket onepo
Begt.
tjo. 1 pale crypt
LION.
Copper
Closing prices all in prnre per
Nov.
1b.:
No. 1 Ras-upot Bettlement house torini,
per long ton.
TIA spot
Ock/Die
2013
General marketą, 012
ports:
Bew
Jun/Mac.
Хакир опера
NEW YORK Closing prices, all in cents per 155:
Oct
Проф
-UPT
COTTON
NEW YORK/ Closing prices all
per lb.
Boot
11.306
20.77-.74
LONDON Closing prices, all in sterling
*-month
Cooper opt
mabib
Lead let half
Nov
Fino at half
Aug...
Nov.
SUGAR
NEW YORK Closing prices all in cents per
Pentraet No.
ADDRES
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