1960-08-30 — Page 2

Page Z

NOTICE

THE HONGKONG & YAUMATI FERRY CO., LTD,

Notice To Shareholders

HEREBY NOTICE 18 GIVEN that the Board of Directore have resolved to make an offer to members who on the 15th day of Octo bor, 1960, are the registered holders of the 504,000 issued shares of the Company of 252,000 unissued ordinsey

THE CHINA MAIL, TUESDAY, AUGUST 30, 1960,

REFLATIONARY MOVE

Can U.S. stop

the possibility

of a recession?

London, Aug, 29.

London

Wall Street reacts to

closes quiet

London, Aug. 29.

ORTATIO

recent gains Big improvements

New York, Aug, 29.

shores of the Company of the Rationally the unprecedented two major with the exception of role and Aircrafts, electronics and selected specials stood.

tin shares which recorded markets sharp rains, slock had a quiet and Irregular Qay,

F

out in an otherwise weak and moderately active stock market today.

American monetary easings in one week (earlier this month) imply that taking politics and economics together the Federal Reserve sees unprecedented orally unchanged industriale those issues which ran up the gallon

need for reflationary moves.

have

nominal value of $10 each at par (such nominal value be- full upon ing payable in

Gil edged securities were application on or before the 31st day of Decomber, 1960)

showed ittle alteration but Unilever fell 3 shillings to 154 so that euch member of the or his approvedį

shilling pence on reports Company nominee shall be entitled to

Repomnilion of a recession ly have bond markets at the that a new brand of margarine

of a

kin apply for and take up ona

one advantage. moment, but in New York the may be the calisa

would be complaint in Holland. Eady money can mitigate and foreign borrowers unissued ardinary share for would

Gold shares opened with every two of the said 601,000 eventually turn a recession warmly welcomed doubtless renewed strength. Cl were Issued shares then held by there is little precedent that it provided only that they proteel duil Greeks improved in a the lenders against oarly call by quiet foreign bond market while uch member. The shares 80 cat prevent gap.

The discopeprting thing is underwriting not to repay the dollar stocks stepdied. offered shall, if accepted the omens of weaker consump- louna until the next time they Rubbers and teams шете rank for dividends n--from-on, hitherin the main support go broke.

guletly firm-UPI. the 1st day of January, 1961 and brightest happ pf the (but not so as to entitle them! American' economy. Some of to participate in any dividend the drops forecast by surveys of declared in respect of the consumer year ending 31st December, 1980) und in all other respects with the present lasued or dinary shares of the Come!

pany.

Liz

ins

ara

of

Exchange control?

Intentions

With all the fabulous woaish slump magnitude rather thon of the United States there begins recession magnitude. Consumer to be a question of how long it spending depends heavily on an afford title external prover-

European ally. By

idea of this Even the employment.

ex- standards the level of Amari- United States imposing an

always change control on capital ex- can unemployment in

doubtless overstated, but its present trend ports, though is not good.

far-fetched, is not so far-fetched

#0

Bond issues

while

sterling

Landon

suven

Closing prices

Olledzia Bonda

Britiah Transport 3. 1919/

The heavier casualties were | Tyre & Hubbor

Gulden Co. widest kalns in the recent up- Goodrich (9. P.) Co.

turn.

Steels were among the few roups to rise from their lows in the final hour., Motors were mixed, drugs steadled, élue- tronics were irregularly higher and rails unsy.

Goodyear Tyru

Grumman Aircraft Galf of

anymond Organ Heyden e

Husars Fuctri Idebo Power Imperial O

Imperial

-

Corp.

in aircrafts. Bull. Marlin, Northrop and Macdonnell added kiland Steel Co.

point, Chance Interchemipal Cor

more

题 than

Vought pleked up around 24.1 Bustic Machles

Int Harvester

The advisory services have been international Nickel

spenting of the missile-aircraft

outlook in glowing terms lately.

International Piger

Int'l Tel & To

Today's volume was 2,070,000 er tusen

shares,

Of a total 1221

43

Jolas Khunville Co.

Du

Cuffola 2157-10

Kay C

Colzah 1200-15/10.

issure trade

Kennecots Copper

Cervono LABUS 344%.

2.

1961-402 were higher and 019 lower.

American

Kimberly Clark Liggeit & Myers TULA

exchange

volume

Lil Taby .....

Lition Ind

to

Lockheed Aircraft

BT

B3%

20% 2011

Loews Incorp.

Dow Jones closing averages:

10

$34,4G

Yunding Low RB-11/16.

Funding Slock 31. 1990/2004—

MY. sti!!

Some people would not have regarded as more unilkely Bheru

Stylizerland, than In Though in fact the exchange pontrol which Switzerland has imposed against capital now imperts is not so allen to the Swiss system A difficulty för the United States is that ex- change control, on capital ex- forts would probably work In reverso.-China Mall Special,

Pupping Lean 4 100-8871. BADI. 155/65-68-1716. Envin S. 104 TL-27814. Savings 3, 1005/75—2713),

BATIKS Barclay' Bank "A" Ltd oru-fiza, Chartered Bank-58a izl. Hongkong.

1qy's Bank “A”—40= ii.

Grindlovs National

Weskminster Non-Cumdative-za,

Union Insurance canton-£M;

Aircraft and Moura Brad Motor Corp. Op-178. Ford Motor Co 101d.

was 1,310,000 shares,

Bonds volume amounted

$4,020,000,

30 industrial

20 rails

Closing prices

Abitibi Pwe. & Paper

Allied Chemicals

Lone Star Cement Co. Lowensters & Sons, McDermott J. Ray McDonnell Aircraft

138.44 Merok

95.89 Mesab Iron Corv Minnesto Mining

200.69

$ 30%

40

Mission Development Monsanto Chemical Co. | Montecatini

Montgomery Ward

Melorota Inc."

3314 National acuit Co 209% Natcha! Cush Res.

National Day Prod. National Lead

National Steel Corp, New York Central

90%

planned for Tokyo's airport

Tokyo.

COMPLETION of a new 10,500-foot runway in 1969 will give jet aircraft unrestricted use of Tokyo's International Airport at Haneda. ·

Renovations to the two exist- Ing runways will esse congestion art make Honeds a major link in world-encircling jet airline services.

An enlarged air terminal will be able to handle 200 passengers an hour, and a super-highway will take them from the airport Into the heart of Tokyo m

compared quarter of an hour

+

with an hour or more al present. The avute will pass along Tokyo harbour with views over Tokyo Bay instead of as at present 25 Through the

winding streets, Bet with air laden with soot, smoke

and car exhaust gases.

The multi-million pound sterling improvements to Haneda a should be ready to handle the

nked thousands of visitors ex pected to fly to Tokyo in 1904

Japan's "Olymale Year."

4433

25 lice

65 stocks

Bank--33

Bank "A"

Insurance

121

Alden Ing. Key,

Algoma Strel Corp.

Alled Mi fra.

All Chalineş

27xd

Am. Brake Shoe

401

American Airline

1996

American Cable & Radiu Corp.

Eti

Nomnda Minom Ltd.

American Cyanold Co.

Norfolk & Western Ry

Amer. & Foren. Power

North Ager Aviation

4412

Am. Gus & Electric

50

Northwest Alrines (Ourn.)

180!

Oklahoma Nat. Gas

de

Olin Mathieson

231

Otis Elevators

5042

114%

Owen-Illinois Class

1844

5612

Oxford Piper Co.

樹

015

443%

Hawker Siddeley Group Ded-S01

oll Royce Ltd ord Rogies Ltd "A"--107 1140. Blandar Triumph International- Ps 1id.

eurlifentes No fractional

Even before the relationeryns it was. shall be lasued, but the shares aetions of earlier this month representing fractions hall, the slide in nearly all Amarl- be allotted to a trustee to be can interest rates had gone more than half of a recession cycle. nominated by the Directors Su the dollar's dilemma shows. upon trust for sale on such up in the capital market as

they consider: well as to the credit market. Conditions 15 expedient and the net pro coeds of sale (less the amount

much of B10 for each shure payable

the dollar and an acceptance) shall be dis-, stronger thun

D-mark is emparably tributed proportionately the amongst the members who sironger, corporate bond issues

at nearly would otherwise be entitled per cent are dismal failures.

in Germany they hardly und to such fractions

underwrllure of sover per cont satisfaction thereof.

or more, while in New York The offer will be made by they find eager buyers at well notice sent by post to each under five per cent the buyers Insisting only on Protection specifying shareholder

the against early call, that is

Singapore, Aug. 29. number of shares to which tying up their money for 85

possibie In Case The market ruled very each shuraholder is entitled long

nakos money still recession

with quiet

prices ad- and such offer, if not accepted aither behalf of such

yancing 1% cents today, Canada has had similar ex-

Turnover was restricted." member or his nominee, on!

and the Canadians periences or before the 31st day of more worried about it. If through lack of sellers.

hud December,

policy 1960, wil!

reftationary

the bond market, deumed to be declined and extend to the Directors will dispose of they ask whether there the said unissued ordinary enough buyers of priced Canadian bonds shares as they think

on

1:10

ពន

on

to

while

countries

Rubber market

The majkel closed steady bu! kwers weru neglected.

The current month No. 1 nss, was quoted at 36 cenis nominal. In London, the rubber market was dull with pot quoted at

Britain and Germany hard-, 281⁄2 pence.

In Amerdam, the rubber

‘uil today.—UPI. market wa

In New York, futures Ware. would

high-enerally quiet throughout the There was Ile in thị sesalon way of manufacturer interest lds of prosperous and hard and dealers were mostly on the

aldelines. NOTICE IS ALSO HEREBY : currency. European

uffered twice the yieki. GIVEN that an Extraordinary! Meanwhile, the New York General Meeting of the Com, bond market is the obvious Dany will be held at the Com- place for foreign borrowers pany's Offices, Jordan Rond: Ro. Forry Pier, Kowloon, OB Saturday the 15th day of October, 1960, at 12.30 p.m. for the purpose of consider-¡ ing, und if thought fit, pans- THE HONGKONG AND ing the following Resolution

YAUMATI FERRY as an Ordinary Resolution!

COMPANY, LIMITED "That it is desirable to

NOTICE is hereby given! the capitalise

Sum $2,520,000.00 being part that an interim dividend of

of

NOTICE

of the undivided prunts three dollars per share on of the Company standing the Company's issued capital at the credit of the Com- has been declared la respect ending 31st pany's Reserve Fund and of the accordingly that a special December, 1960, Capital Bonus of $2,520,- 000.00 be declared and i

year

Dividend warrants will be

NY sugar market

World No.

New York, Aug. 20.

sugar future today closed two points higher to a point lower

of 178 on kalon rantracts. Domestle No. 0 sugar futures

d.

Breweries

Distillers Co-42m 101 d. Bouth African Breweries-24 d.

Buliding

Cement-748

Associated wi

Am. Home Prod.

Am. Mech. & Fury

American Metal

Am. Natural Gas American Spelting Ani Suzar ef American Tel American Tob

Ord-Ampex

Goodlars Wall & Lead

Coal Steel & Engineering Babouch & Wilcox L-37" sd.

Single S

De Impertul

Food & Tobacco American Toh, Co., Ltd

Tobacco Co., Ltd.-62s

· Miscellaneous Borchnay Marden Lid-4%.

isa.

Beneficial Finance

British Chergeri Ltd. Drd-25 Du. Bell Telephune Canadian Pasile Bly-44374 DE Le Rue Co. Ord-70s dd. Dunlop Rubber C-228 96. Geman Holding Ltd-28 Hongkong China G Imperial Chemical-07 Lyons & Co-848 104. Vallever 1_154% P£

1.

Pacific Gas & Elec.

2 Pan American Airways

Promount Pictures

Radio Corporation.

Raytheon

But, und 1963, jet aircraft using Haneda will have to dimit the loads because of runway restrictions.

Mr

The airport marinor Matsuo Iwata, outlining the im- provements to Hencin, cold that de plane would bring it up to International Stantbruk for big jet airliner operníšons,

Mr

Iwało rectly visited He overans

terminals. Bir 441 returned to Juper Dunvinced

27

that, although Haneda locks in- 34 space, the airport can bu 123 proval to equal most mujer

overscas al terminals.

6D internalionul i

|

will be able to handle two jet

be and one propeller aircraft every hour. The airport should equipped with the instrument landing system used by commer- clal aireron by November this Year. At present the ground control approach system in- troduced by the United States Air Force is still in use at

Hanoda,

Mr Iwala hopes that a new terminal building will be built for the exclusive use of incom- freight, passengers and Raving the present terminal for outgoing passengers, The second building my be put on the site of a tormer steel factory which was bombed during World War 11 and the broken skeleton of which still exists.

Freight plans include the con- stuction of a largo warehouse where jet freight can be bonded, Problems connected with the completion of the blueprints, Annnce and land for the new highway have stl to be solved. The equivalent of however,

£600,000 to £700,000 storing will be needed to expand the terminal building, while the new Improvements to runway and

will cost other facilities equivalent of between £40,000,- 000 and £48,000,000 sterling.

The Government has approved scheme but the infprovement the airport nuthorities are not yet certain how much it will

contribute towards the cost.

the

At present Tights touch down and take off The Metropolitan Highway Construction Corporation and from Haneda cach day, and the

airport handles 200,000 Inter- the Tokyo Metropolitan Govern- national

3

year. ment must negotiate the con- mimber zhruction of the highway, ago, the only slightly exceeded 121,000. The problem of sinicing land Fresent facilition include

as being watched. Haneda was major 8,400-foot long runway, built on reclaimed land which and a secondary 5,400-foot long linked two former Islands in 3876 runway, The terminal building Tokyo Bay and each year the the handles bath domestic and inter-mways sink a little as national traffic.

earth settles. In 15 years, areas lund have ank Arronding in My twote, plans of reclaimed

90%

600

Porke Davis Co.

Penny J. C. Co.

Anaconda Copper Armco Steel Armour

6311

Penn. Sall Co.

641%

Philly Morris

Pitney Bowen

Asbestos Corp.

20

Procter & Gamble Co.

Atlas Con Mining Baldwin Lima-Harn

1314

Pittsburgh Plate Glass

61

Putlicher industries

976

Baltimore & Ohin

Pure

3142

Bank of Montreal

50b

62%

Bank of Nova Scotia

Radio Corp. Prof.

73

Beech Life Savers

422%

41%

B. C. Tel. Co.

46

Republic Steel

284%

Raynalds Metal

40%

Reynolds Tobateg

7:42

Bendix Aviation Corp.

ure

Royal Bank of Carats

71*0

Fiya yunre

Benguet Cony.

Royal Dutch

Bethlehem Steel

444

Rheem MIX.

1745

Deeing Airplane

309

Sears, Roebuck & Co.

Bortien (Thel Co.

401%

Scol. Paper

07

Burroughs Add Machine

37

Smith, Kline & French

sa

British Amer, Oll

201%

Socony Mobil Dil

Calif. Packing Corp.

South Puerto Rico Bugar

1316

Sauthern Co. (The)

4!

49

125

Southem Natural Gas

Southern Railway (Com)

431%

Canadian Facile TL Cane (J. 5.

2416

Co.

103

Sperry Rand ....

13

Standard Bande

4891

Shipping Indo-Cluna Bteam Nav. Cp. ord-Pas d

있다.

Cat Traclur

240L

del

Celanese Corp.

2012

Standar O of Cal.

4416

C.I.T. Financial Corp.

Bat Standard Of of Ind.

40

Stegin Navigation

det

Chrysler Motors,

434

Standard Of of NJ.

Chett Peabody..

67

Steel Co. of Canada

Sleep Rock

BLOTES

Colgate-Palmolive Cn.

Stokely Van Camp.

-

Cunselldated Edison

04

Sunshine Mining

Cuntinental Can

39

Chitinental Out of Def

sal

Swift & Co.

Texan Co

Crane Coa

47

Crown Zellerbach

48%

Delaware & Hudson Co.

23

29

changed to two points lower 18

on sales of one contract.

Extrume

dullness charac

Bowater and Electrical

Paper Corp Ord Awociated Electrical-50s 3d. Electrical & Musical-45 S., English Electric Co. General Electric--385 5.

Great Univemal Stores "A"-os

Marks & Spencer & Colis ad.

Ltd--G# 34. Woolworth JW.

TORDER

CALL & HE Courtaulds Lid=371

Conn Gakifalds of South Africa

Con Eine

De Beer Hernia

Ord-17x.

Hongkong T-104 30,

Pelling Tip-7 $160.

Southern Kinta Cons Lid-204 3.

Union Core-te 1011⁄2dining-at

in.

terised both contracts through- out most of the session with ad."

that such bonus be up- available for collection at the little but technicalities weighing plied on behalf of the per- registered office of the Com-un prices in the absence of news

144-148 Des Voeux developments.--UPI. Bons who on the 15th day pany,

of October, 1960, were Road, Central, 1st floor, Hong the holders of the 604,000 Kong, or will be dealt with Issued shares of the. Com in accordance with standing pany in payment in full Instructions,

on and after

for 252,000 unlesued or 15th October, 1969.

dinary shares credited an

fully paid be accordingly

་

Notice is alad given that

allotted to such persons the share register of the

in the proportion of one Company will be closed from such ordinary share for Monday, 3rd

every two of the said 504, Saturday, 15th October, 1900, 900 lugwod Bhares then both days inclusive,

By Order of the Board,

held by such persona res- pectively, and that the shares so allotted shall be treated for all purposes as| an increase of the nominul amount of the Capital of Hong the Company held by each auch shareholder and not as income, and that such sharon shall rank for divi- dend as from the 1st day January, 1901 (but not so

LAU CHAN KWOK,

Managing Director. Kong, 20th Aug., 1960,

proportionately amongst those members who would otherwise be entitled to fractiona na in .such

satisfaction thereof."

3d.

에

ritish Borneo Petroleum Syndi

Cara, Bl. at Comin.

Cana. BrewETS

Campbell Soup Co.

Colombian Carbon Co

Contrelal Credi!

Diamond Alkali

Diamond Gard

Distillery-Reagrums Dougian Aircraft Dow Chemical

Dupont de Nemours

Eastern Air Line Eastman Kodak

El Paso Natural Gas

Family Finance Corp

BR Sterling Drug Co,

67x Studebaker-Packard Corp

G0EP

Textron Inc.

Thickel Chem.

Tide Water Oll

Time Ina

15TH-Cont. Warrants

Twentieth Century Fox Film Union Carbide .....

14 Union Oil of Cal...

200

Union Pacto

20% United Aircraft

122742

331

312%

Rubber Bank

30

Fird

131

Geral Dynamica

44

General Electris

B4

0915

British "Petroleum Co., Lid-485 Gerale Pretile Burinal-20% 98.

Royal Dutch Fetroleum- 12%. * Shell. Transport & Trading--s

-Better.

Gener Foods

General Motore Gen. Pup. Uts

alway

United Fruit ***

Unlled Gas Corp.

US, Foll

VS. Gypsan

1.6. Steel

DOU.. Steet 7 P.C. PF

Warner Bros. ******

Westinghouse Electri

Woolworth (K.W.) Zenith Roo

COMMODITY PRICES

METALS

NEW YORK

Cicsing prices, all in cents per ib. Load

Sept.

Μονι

Zinc

Sept.

Nov.

Copper Bapt

Nov.

LONDON

10.91

10.07

11.25

$1.25

30.ID

20.03

Closing prices, all in sterling per long ton.

Mar.

July

Apot—(F.48. Cuba)

Total enfes: 178 contrant

Open erat: 1,481 contractM.

of the Civil Aviation Bureau of nearly one meire (39 inches).

the Ministry of Transport make Recent surveys show that the provialon to:

réclamation

• Completa THE for the new runway by March

rule of settlement is declining however.

According to Mr Iwatu, exist- ing runways will be extended Complete the runway by by about 300 feet after the new April 1903.

50%

3982.

•

20th

431

*190

13

14715

2736-2734

General markets, cll, basin, DOTEGI Bapt.

Apr/Magg

ર્મ

Estate crepe thin Sept. ...

telek Bepi.

ABETERDAM

30%

Closing prices in gulders

Contract No. 6. (domestla) Nov.

Jars

4.11

Spol-(C) NY ex-duty) .. Total Below: one

0.00

per kilogram, clí. Sept.

Na. rubber

2.7% buyers

No. à rubber

173 Extens

No. 3 rubber

2/21 ye

Ope Lterest: 870 contracta—-133*5.

RUBBER

NEW YORK

Rex rubber tubes closing

peltoes; al in cents par ib.: 74.50

October, to

COTTON

NEW YORK

Clauing prices all in conta per

Apoi

32.43

Dut.

பகுர்.

Mac

Mor.

May

July

NEW ORLEANS Closing prices all to pence per Ti

Buyers Boilers

Ib,!

Spot

1200

May

Spot

month Copper

-month Lead and half Aug,

B00

HIT

Sept.

002

Nov,

Jan

138

23011

MOT

2391

| Sept.

July

Nov.

TEL

Dec.

Kina Svid hail AUS.

De

Mar

UPI.

poris!

Mas

No.-1 Bept,

in Strašte Dunia, per lb. Lob. Mabuynh

97-0712

July

LIVERPOOL Closing prices all in ponco per

No. 2 Bṛpt.

1b.:

American Contract

del/jøv

LAU CHAN KWOK,

Deai/0977.

Managing Director.

20/June

Mixed Contract

Diet/Nov.

as to entitle them to par-

AND NOTICE IS ALSO ticipate in any dividend declared in respect of the GIVEN that the Share ftegia year ending 3ist Docom- 1gr of the Company will be ber, 1900), and that ny closed from Monday, the 3rd fractional certificates shall to Saturday, the 16th October, be issued, but that shares 1080, bath days inclusiva, representing fraction

By Order of the Board of Directors,

shall be allotted to a trus

tee to be nominated by

the Directora úpon frust

for sale on such conditions

as they conulder-expudient,

and the mot procted of Hong Kong, 29th Aug., 1900.

salà shall be distributed ak

BINGAPORE Closing prices

Blanket crepe

34.00

.34.00

30.00

No, 1 carpe

3.00

FOREIGN FNCHANGE

NEW YORK

Closing rates! 31.1 Canada

England ometal

90-days New 2ppare Bouth Africa, domini

Dihers linchanged.

LONDON

New York DesiAmsterdim

Closing roleag

Blomtreat

Copenhageni

Lisbon Cloping prices all fer penco per pale

Farle No. 1. Har apo kila MS4-dani | 855knglin

SetGement house termi

Vann

SUGAR

NEW YORK

No. 3 sept

No. 4 Boot Aud

Boot,rgbber unbeled

No. 1 pale éigрT.

Closing prices all in conta per | 15,7

Copinsel No. 4 (mpel4)

100

LONDON

1.03-3/19

(41-3/19

Expand existing aprons strip has been compacted. These enoble tily. she taxiways for parked air-loaded DC-8 jet aircraft to use

craft,

• Expand terminal build- ing fasliitles.

extensions will

the strips.

be

By 1961, Mr Twala said, all

Build the new super- the International airlines will aircraft to and jet operating highway into Tokyo.

Improvements to the terminal from Tokyo, Japan's own cor

Japan Air airline, building include expansion of mercial

will also be equipped the present Customs Inspection Lines, arca, immigration and Quaran- with a fleet of DC-8C direraft Une onlees,

to meel the jet challenge from

companies. - With these Improvements, Mr overseas Iwate estimated that Haneda Mall Special,

CHANGE OF ADDRESS

China

.

HARLEY MULLION & CO., (HONG KONG) LIMITED

announce

that as from 1st September, 1960

their offices will be

at

608, SHELL HOUSE,

QUEEN'S ROAD CENTRAL,

HONG KONG.

Telephone numbers remain unchanged.

Sapings Are Easy

If You Buy First Hongkong Unit Fund Present Unit Holders can now buy upwards of 200 units at a time in multiples of 100. For information and free bookst write to!

HONGKONG UNIT FUNDS LIMITED 701 Alexandra House, Hong Kong.