1960-08-10 — Page 2

COMMODITY PRICES

Contract No. 4 (world)

30-3016

2014-30

General markets, c.lf. basis, ports;

Estate crepe this Aug.

thick Aug. AMSTERDAM

Closing prices all in guilders,

THE CHINA MAIL, WEDNESDAY, AUGUST 10, 1960.

METALS

NEW YORK

LONDON

cents per

11.10

1145

11.40

30.35

30.29

Closing prices, all in sterling

Jatt./Mar.

SUGAR

Apr/May

Aug.

Bept.

3054-2014

Closing prices, 1. ** ***7

Oct.

302-304 Lead

Sept.

Nov,

3315

Zinc

Sept.

NEW YORK

Nov.

Closing prices ali in

conts

Copper Sept.

pcr fb.:

per kilogram, c.i.f. Aug:

Nov.

No. 1 rubber

2.04 buyers

Sept.

3.18

No. 2 rubber

2.93 buyer

Oct.

3.25

No. 3 rubber

Jan,

No. 1 crepe

2.82 buyers 3.30 buyers

per long tan:

UPL

Mar.

Buyers Sellers

May

Tin

July

Spot

BOT

Spot-IFAS. Cuba)

3-month

800

Copper

Spot

26035

-Contract No. 6 (domestic)

3-month

247is

Sept.

6.09

Lead 1st half Aug.

2007.

71

Nov.

1.34

800

Zinc ist half Aug.

MIT.

15.88

NEW YORK

Nov.

86

Spot-ICLE. NY. ex-duty) 5.90

Closing prices all in cents per

Total Sales: 33 contracts.

Open interest: 4,784 contracts...

Spol

Oct.

Dec.

Mar.

May

July

Oct.

Dec.

Mar

Poral Sales: 298 contracts,

Open intere: 4,190 contracts,

Jan.

UPI.

RUBBER

NEW YORK

Rex rubber futures closing prices, alt in cents per lb

Sept: 37.05: Nev: 35.95; Jan: 35.45: Mar: 34.95: May: 34.30: July 34.

SINGAPORE

Closing prices all to Siraits

COTTON

NEW ORLEANS

2885240288

33.00

Closing prices all in cents per

Sput

mel

Dec.

Mor

May

July

10412-104% 1051-1954

Dec Mar May

104-10414

cents per lb. fo.b. Malayan

ports:

No. 1 Aug

No.1 Sept.

No. 2 Auk

No. 3 Aug.

No. Aug.

Sput rubber unbaled

Blanket crepe

No. 1 pate crepe.

LONDON

103-104

Closing prices all in pence per

th.:

No 1 Ras spot

Settlement house tel:

Auy.

Sept.

Oct/Dee.

89

FOREIGN EXCHANGI

NEW YORK Closing rates; Canade

33.00

30.92

England official

•

23-days

1.03-1/18 2.8100 2.8000

31.27

90-daya

2.TRIS

34.12

Austraila

2.2450

22.20

New Zealand

2.7080

South Africa

2.8140

90

Others unchanged.

LONDON Closing rates:

Montreal Anisterdam Brussels

LIVERPOOL

Closing prices all in pence per New York

8889

Copenhagen Frankfurt

Lisbon

1024-103

1b.: 1042-104% i

97-98

American Contract

114-115

Oct/Nov

Dec/J

Mar/April

2.30

May/June

22.40

Oslo

Mixed Contract

Paris

30-3014

Oct/Nov.

22 85

Stockholm

Dec/Jon.

Milan

304-3012

Mar/April

Vienna

301-30-5

May/June

22.76

Zurich

30-3015

-UPL

22.60

FIRST HONGKONG FUND

INVEST IN THE FUTURE OF HONGKONG!

IMPORTANT.

2.307-2.81 2.72-9/16-2.72-11/16 10.3915+10 BEBA + 141.02-243.07 19.35%-19.369 11.7114-11.7144 60.20-30.30 20.02-20.02% 13.76%-13.70% 14.49-14:48 274331-174934 72.5870.58 12.1634-12.10%

The offer opens on 8th August, 1950. and closes not later than 16th August, 1960. Applications must be received at the offices of the Managers, Hong Kong Unit Funds Limited, P.O. Box 690 Hong Kong, or 701 Alexandra House or at The Hong Kong & Shanghai Banking Corporation, The Chartered Bank or The Mercantile Bank during that period.

Na.

FIRST HONG KONG FUND

OFFER OF 1,000,000 UNITS AT $1.00 PER UNIT PAYABLE IN FULL ON APPLICATION

All shares currently included in the Trust Fund are shares

quoted on the Hong Kong Stock Exchange

+

-FORM OF APPLICATION.

APPLICATIONS MUST BE FOR A MINIMUM OF 500 UNITS AND THEREAFTER, IN MULTIPLES OF 100 UNITS

. Tại HONG KONG UNIT FUNDS LIMITED

I/We hereby apply for....

units in the First Hong Kong Fund at the advertised price of $1.00 per unit, in accordance with the conditions contained in the offer and subject to the terns of the Trat Deed dated 12th July, 1960.

UWe enclose cheque/money order/cash for ..............being payment in fall for the number of units applied for. I/We understand that the money will be returned to melns in full if no Unita are allottede

We deditre that 1/We am/are over 21 years of age,

SURNAME(S)___(la English)_

Meu Miu ar Mird

OTHER NAME(S) IN FULL.......

ADDRESS

SIGNATURE(S)

Telephone No.

Date.

In the case of joint applications all persons must sign. Corporations should com- plete under the band of an authorised officer whose designation should be rated)

CM

NOTE Detaild Information Folder is available from Hong Kong Unit Funds Limited, 701, Alexandra House or P. O. Box 690 (Tel. 28106) or from lesiding Banks or Members of the Hang Kory Stock Exchange.

UPI.

F*t}"

BRITISH INDUSTRIES Expert would London Modest advance

like less

small firms

By ALEXANDER THOMSON

London, Aug. 9, Sir Norman Kipping looked at me through his bifocals and rattled out figures with a machine- gun-like rata-tat-tat as we talked about the

export problem.

About 40% of the 8,000 firms in the federation of British industries' employ fewer than 100 people, he said.

"Only 2 Army in Britain,put more pep into Britain's ex- have more than 5,000 on their port trade? payrolls and only 402 employ 2,000 or more.

"All fold, 10 million men and

manu-

But

4

women work in our facturing industries. million of them are in bust- nesses with less than 100 workers."

+

Sir Norman, 59, is director general of the FBI (Federation of British Industries).

He is a tall scholarly man who comes from farming stock.

He chooses his words carefully when he is talking officially. But his off-the-record asides are free-and breezy.

I bad said: "Some well in- formed folk in the city maintain that one of the reasons why we are ging behind" other coun- tries in extort selling is that we have too many small concerne and not enough big ones."

ADVANTAGE?

I had asked: "Is size really an advantage in the scramble to sell goods in the export markets of the world?” ·

The figures make you wonder. Look for example at the Gar- mans' performance as exporters In the last six years,

Admittedly they have not had to make the big defence effort that we have. But they have : doubled their overseas selling which is a tremendous feat.

closes

steady

London, Aug. 9.

Stocks started hesitantly to-

day but buyers Jaler put

continues

in Wall Street

New York, Ans. 1. The stock market worked its way Higher again to day, but the advance was modest and was centred only in a

few major groups.

Industrials back on the up. Coppers and viis scored Bendix Aviation Corp.

track.

་་

sharply at the expense of the Benguet Cons. “31.

favoured electronics Bethlehem Steel Boeing Airplane

The June fall-off in instalment | récently

plan buying of consumer duri and aircrafts. Buyers appeared bles caused early caution and so favour issues which in recent motors hever shrugged off fears sessions have dropped to so- of falling sales through the

The called bargain levels. credit squeeze.

Some of the thrust came from Magma, Phelps Dodger and the copper "Our Government," he de-take-over speculation with three Kennecott paced

more companies added to the section with coing running to clared, "should provide more fist. Chemical ond Aspirin more than two points Anacon- money for spending on trade fairs makers Howard and Sons spurted da rose more than one.

five shillings to 51 shillings.

Steels scored scattered rises, Brukers attributed the The Board of Trades alloca-

breweries were strong

in coppers to and strength tion for this purpose has recent-Dunlope wheeled ahead on Paris Cage situation where develop ly been increased but only from buying. Stores and textiles end- ments could create wjrid £160,000 to £250,000.

and exhibitions overseas.

"This is quite inadequate." said Sir Norman. "The Germans will spend £860,000 or more this rear..

"To me it seems strange that the Government should spend nearly £4 million a year on the British Council and its cultural activities and so little on this kind of frade promotion."

After all, which comes first the chicken or the egg?

(London Express Service).

HONGKONG

STOCK EXCHANGE

by

Our Own Coresmandent

Business done at the Hong- kong Stock Exchange this imorn- ing amounted to approximately $814,000, Noon quotations and the morning's transactions:

They have lifted it from £1,500 million in 1954 to more than £3,000 million last year. And their industries are organis- ed into larger groups that ours. In contrast, Britain's exports of manufactured goods have risen at a much more modest rate. In the same six years they have . E. Asta - 200 expanded from £2,170 million

to £2,800 million.

It is rather like compering the acceleration of a racing car

Share* Buyer Sellers HK Bank XD 1080 1206-

Lombard Ins.

Undon Ins.. Wharf Co.

Wheelock.

on Mozi circuit with a family HX Doc's saloon on Brighton Road.

Sir Norman Kipping puffed at C. Provident

HK Hotel.. pipe and said that he did not like talking in

a well-smoked

generalicles.

HK Land

But he added:

"The figures I

have given you

and large we

230

Sales 4 1195 301186 300 @ 200

7.66 7.70 13150 ₫ 7.70 1000 @ 7.70

107 100 400 106

XPO show that by Youmeti...

still are

2 Star Ferry 100

nation of comparatively small Macao Elec. 12.40

firms.

FUSION

IC

the

ed looking brighter with Leaders shortages of the red metal and like Courtaulds and Lancashire cable domestic producers to

work off their inventories. Cotton tacking on pence.

Imperial Chemical Industries notched up a fraction, Banks and property counters held firm,

cement

Associated Portland improved on their Canadian deal and philips lamps extended their advance.

Cape influences kept gold mining etares steady but as and coppers both eased.

Zenith toppled around three points in a mostly lower Tronics division.

ཎྞ་!"

Motors were irregular, firm and tobaccos higher.

elec

Barden (1776) Co Burghs Add Machine British Amer. Di Calif. Packing Corp Cana. Bk, of Commo Campbell Sòlib :Ca

Candied Pacie R. Caon J. 1) Co. Cal, Tractor Ceiante Corp.

Financial Corp.

Chase Manhat,, Bank Cheyler Motors Ja Cuett Peabody Colgate-Palmolive Co. Colebian Carbon Oo. Costurercial Credit

Consolidated Edison

| Consolidated Paper or y Continental Can Contents Off of Del.

Orender Put Crane Cg

45.

Crown Zellerbach

Duban Amar-Sagaz

Delaware & Hudson, Co. Diamond Alkuti Diamond God:

rails Dominion, Stures

Today's volume was 2,700,000 shares. Of a total of 1,210 shares traded 595 were higher and 375 lower.

American exchange volume Leading olls scored across the was 970,000 shares: board paced by Shell.

Rubbers and teas showed little change UFI

Closing prices

Cifledged Bands

British Traport 3, 1978/85– KAI-13/18,

Loan 3%. 1901-

Consols 25% £4-706, Conaels #%-260-0/16, Conversion

£50-11/18.

Funding Leen 3 281-5/10.

1959/08

Funding Stock 312%, 1900/2004–| Funding Loan 40. 1960/90 £877

ed.

Bd,

Savings 3%, 1055/65-287-11/16. Savinga 3%, 1960/10-20. Sayings 7%. 1965/75-1270-9/16.

Banks ►

Bonds volume amounted 4,820,000.

Douglas Aircraft Dow Chemical Dupont de Nemours

malam Ar kine Eastman Kodak

Pao Natural Gas Family Finger Corp. First Nat. Chy Banic

Part Motor Co. of Cana. Ford sata E..A..

to George

Grand Dynamics Geomal Electric General Foods

Dow-Jones closing averages General Motors

were:

20 Rails

30"Industrial

15 Uylites

Stocks

10 Bonds

Cont. future price index

Closing prices

Abitibi PWT, & Paper Alden Inc. Acy.... Algoma Steel Corp. Allied Chemicals Allied Milla Inc: Alta-Chalmers Am. Brake Shoe American Airline

Am, Cable & Radio Corp. American Cymamid Co.

Barclay's Bank."A" Lid ord-801 | Am. & Forgh Power

Chartered Bank-is.

Hongkong @BIND

Lloyd's Bank A-664 6d. National & Grindlays

Westminster Bank "A" Non-Cumulative=420,

Insurance

Am Gas. Betrie

Am. Home Prod.

Am. Mach & F'dry. American Mata!

Bank-344|| Ans, Natural Gas

American Smelting 12%. Am. Sugar Hef.

Union Insurance Canton-25%.

Aircraft and Motors

British Motor Corpsted—174. Ford Motor. Co-fs Bd.

Howker Siddeley Group Ord-296 734.

fibila Royce Ltd Ord-4ts 11⁄2d. Rodles Ltd. “A??—9a_9d2.

American Tel & Tel American Tob...

Ampex partn Anaconda Copper Armco See)

Armour

Asbestos Corp.

Atlas Con Mining

|| Bekiwin Lima-Ham.

Baltimore & Ohio

Bank of Montreal Bank of Nova Scotia

Standard Triumph International-Besch Life Savers

Breweries

Distillers Cola D.

South African Heweries 24s 3d.

Building & Materials

Associated Portland

Cement--689

Goodians Wall & Lead Ord-38s 30.

2:00 108 20 20.10 40% 40% 1500 40%

4014

500

56

s.

200 # 5741

182

Trom ...... 3 324 500 Q1. Light.

. 23.80 22.10

3000

21.00

300

21,90

64.

500 @ 21.00

Electric

23.10 28.20

*830 Gr 28.10

86 '3815

200 Gr 38%

200

100

1800

3,40

200 28

position in the export markets.

500 @ 28.40

"It must be very often true Watson that the impact of their selling Allied

500

28.40

25.90

559

34.

Inv. 5.55

1000 @ 5,00

J

3000 46 5.90 22000 £ 5.90

8.00 8.70

14 1000 @ 13.90

1000 @ 14

4000 13.90

"I would say

there must Telephone

be many instances in which a GI Cement, 631) 64 fusion of businesses in the same Dairy Farm 28.40 28.60 industry would strengthen their

effort would then be greater then if they made their efforts Textile individually,"

Nanyang Ex.

8.55

I pointed out that in some Bonus Issue 13.80 industries firms have formed themselves into export grOUPS. A. Rubber 6 8.45 10000 & 8.40

These groups do an excellent R. Trust Job, But the snag with many Talkoo Dock

Realty of them is that they do not go out and sell.

HK Gas..

L. Craw

Presumably this is because of the difficulty of deciding whose products should be given the big Gilman salesmanship treatment abroad. Rope

"If the firms in these organd- | HK & FE. sations were merged financially would not that problem be over- come?" I asked.

Sir Norman #greed that this might well be so.

"It is certainly true" he said, "that all our big combines do very well overseas."

Apart from joining forces with others what advice would he give to small concerns ́ anxious to try their luck at exporting?

"It all depends on the nature

of their products," said Sir Norman.

53 54 200 @ 54 1.775 7.625 1000 @ 1.823

30000 1.80 14.80 14.70 20 & 14%

400 14.80 240 24.60 20000 41% 2000 th 195 1600 @ 241

4 411 1925 2.025 ... by

Inv,

(N) Humphreys Int. Inv.... Bungala Vibra

14.90 22.70 23.30

9 945

15.30

200 @ 14.30

NY sugar market

New York, Aug. 9.

"I know of a little company World No. 4'sugar folures-to- making machinery putting the caps or mitic bottles, AR though it has only etrmployees it has had a tremend-

Escena sis for Exporter.

day closed unchanged to ve points lower with sales of 266 contracts. about 100

NOT SIMPLE

Domestic No. & sugar closed unchanged to 14 points higher with sales of 83 contracts. "But it has readily Identifiable World contracts Inclined to customers. Obviously they must soften as buyer Interest in the Be dairy competes in ink pro-spot market contracted

Conversely, a firm raw skua- For many

of the smaller on strengthened the domestic business however the problem contract and duced coverkig in

is not no shule. They will not the spot September delivery. Mrrow where the best selling thaiser west And înrang: déan

Trade sources understood that

Coal, steel and Engineerlag Babcock & Wilcox idéia Bú, United Steel-80 9d.

Vickers Lid-32% 30.

- Food and Todacto

British Ameriean Tob. Co., Ltd-

Imperial Tobacco Co., Ltd-62 3d.

Miscellaneous Boardman Mandes Ltd-1s, British Oxygen Ltd. - Ord-25% VIP.

Canadian Pacific Rly-43 De La Rue Co. Ord-«‚ ̈ Dunlop Rubber Co 27s 1011⁄2d. Guman Holding Ltd-Za 41ILA. Hongkong & Chitus Gas-15. Imperial Chemical-68 1440. Lyons & Co-81 740. Unilever L14--14la ́36.

Paper

Bowater Paper Corp Ord-50% #d.

Radio & Vinctrical

Asociated Electrical 50s Gd. Electrical & Musical--45% 1011⁄2d. English Electric: Co-400, General Electrio-34s9d.

Bell Telephone

Beneficial Finance

Also, Pub - AZTÁL

815.08 Gen, Tyre & Rubber

135.24 Terty "..

93. Gidden Co

204.06 Goodrich (B. F.) Co.

84.67 Goodyear Tyre

144.05 || Getermekei Alesents.

GUCE

farfod Chgan Heyden Newport Corp. Hiram Walker $383% Homestake Mining Ca

Zdano--Power

50% Imperia Où 5416dEmperial Tobacco 301-Rand

21%

Drand Steal - Co.

216 | Interchemical Corp. 1991 | Int'l Business Machines

International Paper

178) | Suhna-Malvike. Do.

Kalea C. Power & Light

cott Copper Kimberly Charge!

Made Myens Tob. Co.

Pftiori Bad

Loekkoeti | Aircraft Loeva org.

Lionel Sel Carment Co.

30% McDermott J. Bay

McDonnel Aircraft

13:

Mht Iron Corp. Kinésoti Mining SPA Mon Development

AUSTRALIA WANTS MORE TRADE WITH

הקו ריג

MALAYA

Faith

From GORDON HUNG

Singapore, Aug. 9. The Australian Government seeking a bigger

is

11.

Monicote Chemical | Cu.

Mentorhery Ward Motoroler Loc

National Blooult Co. National Cash Reg. "A" National Dairy Prod. National Lead Nettoom Steel Corp. New York Central Norandar Minien Istc. svärtoma der Western By. North Amer. Aviationi Northwest Alter" (Com)

Ole Mathies Otá levéke Orari ulikkola Claas

Paŝită Gas & Elec. Pan American Airways Freseronjt+Picare. Parke Davis Co. Pehr. Barried. Pitney Bowen ... Procter & Gamble Co. Pittsburgh Plate Glasa Publisker Tdustries „Pune Of vivikytas Be Corporation Radio Corp Pref.

theon's...

Reynolds Metal

Malayan market in line publie Steel with plans to expand aholis Debaceo Australia's export earn-o), Bank of Canada

Hayal Duyg ings by over M81,700 Sears, isbeck & Co. million in the next five away Stores

Shell Oil Co.

years.

Baina: Rag-Paper Schenley The, Spearheading the drive will Best Papers be the arrival, in Malayan Bitsler Corp.

Sinclair on PO Beam Navigation def ord-waters in March next year of a

Kantihi' Kline & French 382 10

floating trade fale, the first of any obu Oll af. Its kind ever to be sent by Aus-Bolar Alterart

Balth Puerto Rico Suger |tralia' to this region. p

The trade fair will be organis-Bouthern Natural das

Southern (Cis,> (The) 19(0. Woolworth 7. W. & Co-60s Tided on board the 8,000-ton Dutch Solher alway Com

skipping t

Indo-China Sterm Nav. Co, def ord-23-64.

23

stores Debenhams, Ltd. Ord-44 d. Great Universal Stores "A"-kős, Marks & Spencer Lig-81s Dd.

Textiles

Cole J&P Ltd--530,

Courtais Lid=840 $190.

ship, Straat Banke. It will have Standard Brands 10920 150 display booths and panels Standard blot Cal.

Standard Oil of Ind showing a very wide range of Burkard Off of 17. Australian products from heavy) BaptRock will Cons Coldreds of South After-dustrial equipment and electing Drug Co.

88 90.

Mines

Cans. Zine Corp. Ord-75g' 01,

De Beers daf-1406.

Hongkong T-100 540.-

Pelaing The Bed

Rand-1 1014.

Southern Kinta Cons Lid-25 0.

West Delmontein Goldmtning-age 1. 15-**

BARE-Van Camp. |trical products to cheese,

The floating fair will call atchaker-Hamkard Singapore and various ports in Banking saini the Federation.

The Acting Australian Trade Tetas Col

extron Ins Commissioner i Singapore, Mr The Water ou TS Nichibls said there had th been a gradual "awareness in meineveka. British Borneo Petroleum Syndi Australia today of the amp Thl-Coat, Warrants

Traders Finance cateod.

AL

Brit Bunnah Petroleum-le .tance of Southeast Asim export Twentieth Century Fox Fam British Petroleum Co., Ltd-501 60. markets. Mr Nichols said he felt Union Carbide Royal Dutch Petro

Shill

d

uter,

this if trendom would gather ion of of

ing 4137s menentum in the years thead Halon Pass Railway

**Fib wild thất to order to boat Ented Tr Australian Overseas, frade, 4 the United gue Canberra Chamber of Commerce Tal had febentlyBet ugy sealexport couneri Borisisting of leading UI representatives of industry and

Exchange rates

the amount of paper work to go Mexico has already sold to US.

commerce. Through will probably discouragsrediners all of its alloted non-

Pthis council which quota

amiting to

Bukiness was done in the local landnacrtrige? the? doating letkade 284,928 tons, to be deliverma moMSCUL Wang, Inaricet this

August and September. morning at the ZOROWING PROAR

Very often the best thing they can do is week the advice

sources expected atmaing sague (PELET other producdis 'now may de Aurkish istal k për k

offering Prices. LUPI:

Warn