1960-09-14 — Page 2

Page

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 14, 1960,

UK'S INDUSTRIAL HEADS London stocks

Men behind country's successful businesses

This week our financial correspondent offers a guide to big-earning personali- ties of British industry.

London, Sept. 13.

Think of the brilliant men behind successful businesses, What rich rewards have côme to investors who have backed them over the years.

There. Je Idonel Jacobson who food and drink eans and no heads Montague Burton, the, doubt Brkain will too, biggest tailoring group in the "Tuber" have big expanalun world. Because he knows what plans afoot in both metals, A the public want to wear before | 887- the shares are sil they know it themselves and under the year's peak and the sives value for money his

ylek per cent. profits soar and sour,

Then thure

Their companies

DIC Im- mensely strong and would not put you off buying elther share. Even if shipping does not perk 7/-up as soon As the opilinists hope, there is little risk of be dividend cute. You can reasonably sure of 5 per cent on your money in either at current share prices.

You can surely have con- is Sir Simonadence too in anyone who has Marks whose success in winning built up a £12,000 business into the confidence of his customers the Es million group In- 30 boasts fortunes of 237 Marks and Spencer Stores.

Or you can plek on Mr Henry jazell, the dynamo behind thờ £47 milion Beecham grou} the over-expanding soft drinks and drugs empire.

Widely known

+ These

amen

years.

That is the history of Mr Carl Hass. Chairman of the Ross Group, He took over the family Hah merchants at 28 and now at 60 runs une of Britain's big gest trawling fleets and many lankabberty activities besides,

Tic

even OWIN group polate market which is no doubt areeful for ships somewhere.

But big developments recent- y have been in frozen foods Sea Sparkle is one of the trade

clune share-

i

Recently in fact Bir Nicholas Cayzer spoke a title more hope- Fully to the future. The Bri- tish Commonwealth also has a habit of coming up with a small free scrip Issues from time to time.

<

So this would be my choice at 40s 0d,

Future gains

Now to turn from pleasant antelpation

the future of to the solace, of a good gains

the return on your money in

have their #plendidly for holders and

thelt names widely known.

Less in the public eye is Sir Ivan Stedeford who heads the

names-canned foods and cond.prosent. Investments. Sir Ivan

Tube

shuns the limelight but he is a man of steel and aluminium.

113

Manejort.

The dividend is now two and a half times greater than was years BEO and no doubt on in spite of is w go competition. At 20/- shares re- turn £1/10 per cent which is not bad for a growth stock.

His £140 Hition group pre ducos

rinc tubes and castings and is to the work's biggest cycle maker,

Hercules with Raleigh umonk it's models.. Eighteen months ago he won one of tho biggest takeover

you back those who are battles of all time and gained looking for an early, revival in jcontrol of the British Alumi-shipping you must pick a com- MILTI.

pany with the

If

of

New York clo

lose ground in

York closes on most

generally firm note

Stocks refused to give up any more ground

'slowest trading of the year managed to note.

HONGKONG

STOCK EXCHANGE

by

Our Own Coreysyondunt

Business done at the Hong- Stock Exchange this kong

amounted morning

to ap- proximately $2,100,000. Noon the morning's quotations and transactions;

So jook what a fine return you can get from shares of lin- Company now porial Tobacco celebrating the 60th anniver- £7/2/- Sary of Players. It is per cant at today's 62s d. n

yeur's Union price, 18/ below the peak.

New York, Sept. 13. today and in some of the close on a generally firm

Motors were the deciding factor that. Influenced the remainder of, the list to renege On its easter trend earlier In the day. The car makers were mostly higher, Steels Were mixed but hardened toward the cloce,

Uulties and food stocks took

| Pan American Airways

Paramount Pictures Parke Davis Co. Pony J. C. Co. Penn: Ball Co.

Philip Morris Pitney Bowes

Procter & Gamble Co. Pittsburgh Plate Giaza Publicker Industries Puliman Purs Oil Radio Corporation

Republie Steel

the upside spotlight, Electronics | Raytheon an were higher

on balance, drugs mostly easter, oils firm ant alreratis mixed,

Today's volume was 2,180,000 jshares of a total 1,108" boues traded, 403 were hugher and 450 lower,

Reynolde Malal Reynolds Tobacco

Royal Bank of Canatla Royal Dutch

fheem Mfg.

Sears, Roebuck & Co.

Shell Oil Co. ... Bafeway Stores

Bainter. Paper Schenley Inc. Scott Paper

bands Bluclair Oil

American exchange volume | Bjegler derp, Was 870,000 shares, volume amounted to $3,410,000.

Botany Mobil Of Saft, Kline & French

Dow Jones closing averages Bouthern Co. (The)

Shares Buyers Ballers. IK lank.. 115 1100

Baler 100 1183 1185

were

30 @ 1190

30 Industrial

E. Akla

204

20 Rall

ГА

400031

18 Ves

400 936

03 Stocks

Waterbant.. Wheelock

434 25.20

40

kada

734 7.88 3000 7

Comm. future price index Steep Rock .....

most sections

London, Sept. 13.

With the notable exception of the gilt edged mar- ket which maintained their recent frm ten- dency, stock markets today lost ground in nearly all sections.

Restraintor influences were the lower trend.on Wall Street, the slackening in August retati sales, and uncertainty in front of the trade Agures.

Most top industrials had losses with Imperial Chemicals nine pence lower at. 68 shillings and 18|| Courtaulds ex pence to 569 0096

40.

'

00.

Breweries altulers is 81.

South African Breweries-33.30.

'Buliding Ag Materials Asspelated Portland Cement-710

Goodium Well & Lead. Ord-108 10110.

* Coul, Hteel & Engtherring

Babcock & Wilcox "Lid=35% DI.. United Bikelike

Vickers Lid=358 96.

Food and Tobacco British "Amarican Tob. „Co. Ląde

Stores were all lower with of Tobacco Co., Ltd-

421

Si

falls of about nine pence.

4015

122

Gold shares receded at, the opening under the fluence of

Örd-30s

€12

the cape and then held steady in |

19@d.

9

idle conditions to close

on a

20

Blightly harder note.

Coppers were quiet through-

other

mining

$34 | out "along with 5914x

444 sections.

Steet shares were marked down on fears that the Richard Thomas and Baldwins issue is

154 near at hand,

alls drifted lawer with the leaders about six pence easier,

Rubbars showed little change Lat teas were inclined to be (27), | caster.—UFI,

Closing prices

Foreign bands stucks were lower

United Steel alipped pence to 85 shillings and others had falls up to six periCE,

and dollar under Wall

nine

17

Street's influence.

Boull Puerto Rico Bugar

18

Southern Natural Gas

Southern Pacific Co.

22%

Southern, Rallway (Com.).

445%

911.70

Standard Brands

135

Standard Olt of Cal.

15.17

Standard Oll at Ind.

Just

05.03

Standard Oil of N.J.

Sterling Drug Co.

Sickely Van Camp.

3000 ( 74

Closing prices

Stone Webster ....

81%

C004

Studebaker Packard Corp.

13

$200 or 7,00

Sunshine Mining.....

G

Cormal 40-£673%.

Duck

103

104

*200 or 100

200 UP 105

Abitibi Pwr, & Paper

$39

Swift L Co.

4345

Conversion Loan. 34%,

1901-

Allen Inc. Acy.

7415

£54-13/10,

Algoma Steel Corp.;

Textron Inc.

2114

Funding Loan 3% 1000/09

Alted ChemNLEDN

Thlokol Chem.

369%

Allied Miles ine.

Di

Tide Water Ol

Alta Chahnets

20

Time Iție...

Ain. Brake Shoe

wi

Tri-Cont. Warrants

Finding

500 21.30

600 21.30

American Aveline

18

Twentieth Century Fox Film 411xd

£88-3/18

A Cable & Halo Corp..

Union Carbide

GOO 6 21.29

500 6 21.10

American Cynamic Co.

18%

Union Ou of Cal,

Amer. & köreign Power

J

Union Pacific Railway

Am. Gon & Electric

50

Inlled Aircraft

United Fruit

United Gas Carp.

But besides making and sell-Whar! ing its own brands of home the group is known to have a highly luarative share intereal in ever- very best

British American Expanding Among the big Tobacco I rate Sir Ivan as one of Bri- | znatagemoni.

and is Corporation tain's most active industralists group there are two men who

also said to have an Important Ander- and I am sure is venture into stand out-Sir Donald

Blake in its clief home rival ahminium will turn out to be

mighty

Senior Service Galjaher.

a brilliant succes.

new

sun.

Chairman of the

P. & O. and Sir Nicholas Cayzer

Com-

There ато vast potential who heads British and

anaskets for this metal-monwealth Shipping, the best in care for instance, Americans known for its shapely union-

To piso using aluminium for' enstle Uners,

P.O

ORIENT

LINES

S.S. "ORSOVA'

EMBARKATION NOTICE

-EMBARKATION:

The ship will be berthod at No. 1 Pier, Kowloon Wharf. Passengers should emburk between 1.00 p.m. and 3.00 p.m. on Thursday, 15th September. The ship is expected to sall at 4.00 p.m. on 15th September, 1969.

BAGGAGE:

Passengers pre requested to send áll baggage for Hold and Baggage Room and as much Cabin Baggage as possible to the Hongkong & Kowloon Wharf Co.'s Godown Entrance at No. 2 Gate, Canton Road, between 8.00 a.m. and 5.00

13th and 14th on p.m. September, 1960.

Agents.

MACKINNON, MACKENZIE & CO. OF HONG KONG LTD.,

STOP "CREEPING COSTS”,

I just refuse to believe that Provident..

this immensely strong £270

million company once regarded

the bluest of blue chips is

am sure that if HK Hotel.. fading away.

you will you bury its share secure & high and gradually rising income over the years Londor Express Service.

PI ANNOUNCES

NEW FREE MARKET RATE.

Manila, Sept, 13.

The Philippine. "Central. Bank announced that has adopted a new free market rate of three pesos to US$1.

The previous rate 3.20 pesos per V.B. dollar bæð been in effect since the Philippines euforced gra- dual decontrol last April.

Under the new rulingu, exporters can convert 20 per cent of their foreign exeliange receipts at the free, market rate of three peson to US$1 and the rest at the official rate.

Tho now ruling also reduce payments for im ports and invisibles pre- viously made at the rate of four pesos to US$1, which included a 25 per cent margin levy imposed by the Government.

Now these payments will

be made at the rate of 3.75 pesos to US$1.

Industries whose F&W maturizi . Iraporta Kro exempted by law from ,paying the margin fee will pay only three pesos to

·USEL.---China Mail 'Special.

21 23.10

50 5015

40% 41

Land ..

Youmali

Tram Ex.

Div.

179 IBO

31

C. Light... 22.00

XXX.

3000 48 7.88

1000 m 101

1009 14

400 on 103 300 e 204 572

2000 4113 5500 45 $100 of 5915 800 39 100 100

12 2000 32 10002

2000 32

23 300 or 23

109 or 23.10

2000 23

20:30

100

1900

Elec. Telephone 301 30

Cement

Am. Tome 1rod,

Ain. Much, & dry.

American Metal

Am. Natural Gas American Smelting Am. Sugar Ref.

American Tel & Tal American Tob. Ampex

Anaconda Copper Armco Sterl Annvor

28.19 | Albertos Corp. 381

Allan Cenis. Mining Balwin-Lina-Ham. Baltimore &

200 303 1000 63815

200 @ 2324

34 50

100 44,50 500 G BILL 2006 8345

Dairy Farm 29.70 29.90 2209 30

Wats .. 21.10 Allied Inv. Textile

BY

Nangang . 13.40 13.710

200 30

__100_40_30_ 1800 or 30**

300 29.90

20.80

3.84

B35 3000 130 100098.30

Annal.

Rubber

+

6.90

6 3000 0

1000 ĕ

Rubber

1.00

Trust Tolkoo Dock

Realty

L

2.90 2000 in 3.00 00. 0025 3200 01

2000 a 601k 1.00 1.826 5000 1.825

3000 1.80

Humphreys 20.10.2140

5000 1,00

3000 1.80

Ohio

| Bank of Montreal

Bank of Nova Scola Beech Life Savers Bell Telepiso

Beneficial Finance Bendix Aylation Corp, Benquet Cons,

"Tallighem"Steel

Boeing Abytune Barton (The) Co. Burroughs Aud Machine Briksh Amer, Of British Conambia Eles. Brith Columbia Per. Calit. Pooking Corp. Cana. Ipk of Comm Campbell Soup Co. Canadian Pacific It.

| St. Tractor

nesa Corp:

Financial Corp. Chase Manhet. Bank Chrysler Motors Chielt Peabody Colgate-Palmokve Ca Columbian Carbon Chi Commercial Credit Convied Elde 2000 in 14.70 | Continental Can

100 m 14.0 5003932

500 $3,10

HK G. 14.50 14.70 4000 14.70

Lane, Crow 30 Int') Int.

Ex. Dly.

Hongkew

Continental Clf of Del Crane Co.

Техия Са.

224U.B. Foll "B"

US, Gypsum

34 UB. Line Co.

20

SHEP

U.S. Rubber

U.S. Smelling

U.S. Stee!

3124 0.8. Steel R.C. PP

Warner Bros...

8Waukesha Motor

33 Westinghouse Air Brake 234 Westinghouse Electric

Western Union Tel Co. 129 West Va. Pulp & Paper

Winn-Dixie Biores... Woolworth K. W.) Zenith Nadio

571

Crown Zellerbach

******

4837

4:00 1

120

Cuban Amer. Sugar Delaware & Hudson Co.

2115

900

Diamond Alkali

Distillers-Seagrams

Dominion. Stones

Exchange rates

Business was done In the local

wiofficial exchange, market

morning nt the following rates:- US dollar per $11

1)

Blering noles (per Australian notes iper £! Indonesian rupiah (per 100) Sam ticals (per 100) Singapore (Stralto)

SAILING OCT. I

25.00

12.84

Douglas Aircraft Dow Chemical Dupont de Nemours Eastern Air Line

Eastman Kodak

El Paso Natural Gas Family Finance Dorg,

Firestone Tyre & Rubber Fit NM. Chy Bank Ford Motor Co. of, Can. 2.70 Ford Motor

Pecite

24.30 General Dynamics

General Electric

General Food

General Motors

Gen. Pub, Utti.

Get Tyre & Hubber Getty Of

Glidden) Co.

Goodrich

craft

Goodyes Grumman Gulf of AKA Femmbed Org Heyden Newport Corp Eiron Walker

Home Mining Co.

Imperial 01

Imperial Tobacpo Ingersoll-Rand

Stool Ca

Corp.

Inti krizem Machines Lab' Harvester Internatiorină Nicol International Paper Intel & Tel

Jotun Dior có

Kaiser Indyaizies -

70xd

11912

分

Giltedged Bonds

British Transport 35, 1018/88-

Consola 215%-245-11/16

Funding Sipcis 96% -1999/200-4-

Loan 4%,

1900/90

Savings 3%, 1880/6588-1/16. Saviors 7%, 1900/70--478-7/18. Saving

1985/75271 oreign Bonds

„_„Barclay's Bank" "X" Ltd ord-12#

Chartered Bink-60.

Hongkong-40114.

Lloyd's Bank A-404.

National & Grindlaya

Bank-Us

DdWestminster Bank "A" 1218%.

Non-Cumulative...¿za.

Inewnes

Union Insurance Caplen 2014.

Aircraft and Motors

British Motor Corp. Ord

2816

4672

77%

116

6156

3014

2742

10lid.

38

1231

-UPI.

if

Yesterday's Closing

Ford Motor Co-873 7164.

Howker Siddeley Group Ord-30s.

Rolls Royce Lid- Ord—120 34. Houtes 41 "A"--10μ__ 92.

Standard Triumph International-

COMMODITY PRICES

SUGAR

LONDON

Closing prices, all in sterling per long ton:

Epot

3-month

NEW YORK

Copper

Closing prices all in cents per

Spol

lb.!

month

Contract No. 4 (world) Oct; 2.90; Jan: 3.23; Mar: 3.00; May: 8.06: July: 2.07; Spot-(T.A.8. Cuba): 3.11.

Tolal Sales 221 contracts, Upen Interest: 2,073 contrasta.

Contract No. & (dómesila) Nav: 030; JAN: 6.05; MAT: 3,03Į Spot (C.1.1. NY, ex-duty): 8.12.

Total dates: 31 contracts. Open Interest: 125 contracts UTI.

RUBBER

NEW YORK

Rex rubber futures closing prices, all in cents per lb.:

Sepli 3.20 Nov: 24.68; Jan: 37.96; Mar: 33.46; May: 33; July: 216; Sept: 32.50.

BINGAPORE

Closing pricco all in Straits cents per Ib. 1.0.b.' Malayan

porte:

No. 1 Sept.

No. 1 OL

No.'s Sept.

No. 4 Sept.

No. 2 Sept

70% pot rubber unbed

Blanket Trope viss

No. 1 pala Crepe

LONDON

200-100

Closing prices all in pence per fb.!!...

No. 1 Ras spot

Belliemenį tipump term:

Kansas C. Mower & Light

Bapt

Kennecott Copper "

TER

Oct.Dec.

Kimberly K

LAS TUD

Aprung

**Elenery) markets, old,

zzzwith the fist, gleurotu Burroughs Tan Kay adding machine

Erron, ovinka, áld musikaali detikri Feroeping couèn.” You can eliminate them with this Burroughs Tes Key adding. machian. It does the ph fast thingyt. Terwin) more. about aronil And the Teð đấya udelilcilig palĺplaci Laytona mun it in an optich de thu

of the kind. See it today:

"

Call your Burroughs man

For Information, phone, or vlaltia.

BORNEO SUMATRA TRADING CO; {H.K.) LTD.

SS PRESIDENT WILSON

Limited firt Cladi and Economy Clads accommodation available akoard the lýkurioui, completary air-conditionad 35 PRESIDENT

·WILSON/ «ting fram Hong, Kang “on Oct: ), 1960-for. Kob Yokohama, Honolulu,ánd San Francisco.

See Your Travel Azení Now. AMD Express freight Service

AMERICAN PRESIDENT LINES

Ifspeti de Myers Tob. Co.

-Latcom Ind

Lockseed Alteraši

Loews Ingoya,

Boris.

Lore Bt. Ősment Ob. Lowerarbeit & MoDerrois ·J; Yay McDonnell · Adrorati Marcko

Membi Fros. Corp Mont Development Nobo Browery li Montgomery Ward. Motrols Inc. Nestor Chang Kastrat · DeTY - Proď: Natformé Lend.

·New York Cinéral Notary Mean

Korut AmerdAviation. Mürthwest. Alebrws: (Con

Gin Malhinor)

Sas Sept.

thick

TALS

Zine 1st half Sept.

Dec Lead ist half Sept.

XLellaneous Boardman Mardess_Lgd-48, English Oxygen fick Canadian Pacida_017-84136. De La Rug Co. Ord-774. Dunlop Rubber.com2% 20, Gilman coding Ludents 84. Hongkong & Chine G«»—–196. Imperial

Chemic

Lyons & Cümle 1014. Vinilovar Lid-18ka 3) nor.

Рарог

Bowater Paper Corp Ord-000 Øl,

Radio and Eléctrical Astoelkled Electrical 49m 31. Electrical & Stusical-tas (

General

Shippita Indo-China Barn Nav. Co. det ord- “PLO Steam Navigation dof ord→→ v9 tava,

Biores Universel Stords "A"-510

Dd Great

Marka & Spencer Lid-879 (d.. Woolworth" 3. W. # CommZTE Dk

Textile

Courauids Ltd.

Mines

Cons Goldfields of South Africa— 06% 30.

Cona Zine Corp. Ord-70% ed. De Beers def—10% 30.

Hòn vang nhà 10, 4

Petaling Tin-0

Rind-17

104

Southern Klats Cona, Lid-251 90. Union Corp=85# 411⁄2d.

West Driefontein Gokimining 85 7id.

V

in

British Borneo Petroleum Syndi

d.

Burmak Podroleum-1a

British Petroleum Co, Ltd--473-8d. Burma-37M 94. Royal Dutch Petroleum-£11-11/16, Enell

Traport & Trading-31s

-Reuter.

Malaya's

never-never

market

from GORDON HUNG

Kuala Lumpur, Sept. 13, Extended credit and hire purchase terms are. put- and more ting more Malayana in the "never- never" markel.

The Statistics

Department small has discovered that the wage wirners in the rural areas provide a large share of the cù1- country's hire-purchase

Buyers Sellers

814

810

tomers.

SOB

339

234

Their most popular "bugs" are 23454 bicycles, radios and sewing i 234% machines.

---UFI.

COTTON

NEW YORK

"Our household budget Eur. vay has shown that these three Bitrina are in great demand' by consumers in the lower income for group" sak, a spokesman the department.

Shopkeepers here attributed the wider sales of luxury Items in this group to gradual rais- Ing in the living standards,

Clasing prices all in cents per

Ib.:

Spot: 32451 Oct: 3135; Deo: 31,33; Mart 31 May: 3215; Jub: 1216 Oct: 124 Dec: 2254; Mar: 30.50; May: mad, July: 22.50*

"Severity per cunt of our business is done through hire- purchase," said the manager of

rowing machine firm. "Most of our customers come from the lower income group, i catate and factory workers; find Inbourers and clerks, We NEW ORLEANS

that if the husband goes, in for Closing prices all in cents per a bicycle the wife will almost lb.:

Del 31.20; Doe: 3131; Spot: tay: 3213: Juky 21: 31 Oct: 2330: Dec: 33,00; Mar: 22:53; May: 3148; Fly) 3244,

LIVERPOOL

Closing prices a in pence per

American Contrust Dot: 2110) Dec 23:20; Mar: 2370;

Mixed Contrace Det: 2400/Dea: 23.05; May: 23.10; May: 2110 TUAJ = 2000.--XT

FOREIGN ENCHANGE

BW-YORK

: Cibalng ratas.

Canada;

England

Australle Naw, San Bouth", "Atring

New York Montreal

[YORK.

Copen

certainly machine."

want 0 sewing

After the sewing machine comes a radio, usually a trați- sistor.

· SACRIFICE

When times become a blt thin, and the instalment, under- taking too heavy to bour, it is generally the radio that is the fht to be priced. "Nevertheles6, dospite the trouble of chasing up bad debtors, most › salesmon agreed that the profits to be gained frobi hire-purchase warranted the frulmanca involved."," a: Car andurmator-crcle retailers have wishes their hands of the long and levalved paperwork attached to the instalment sys- 1 tank by passing the hiree Drobne Arvements on to their afillated finance companies,

Now ever-never salce | cover: almost every conceivable

arilate

for the individual honte,70

Or

But most of these sales aro Gene, not through hire-paroliage, but on the, credit system. Here the #ild istemirely, a don track fixed betweep,retailer and pur- chaser,

HK UNIT FUND

PHOPKO