1960-09-21 — Page 2

WALL STREET RALLIES

WITH SLIGHT GAINS

New York, Sept. 20.

Stocks closed mostly firm today but the gain was a more pit-

tance compared with yesterday's debacle.

Drop in

U.S. gold

reserves

EU

Electronics scored gains rang-Family Finance Corp,

Yerra Cor ing ground five in IBM. Firestone Vyre & Hubbar motera to over one in Ford, First Nat. Cify Back steels to a b Granite City, Georgia Pacific and General Electric over point in the blue chips.

Ulities moved Tower un balance #01 People's Gas duw? two and mang others armand

point, Sporting lorges of a Drags were mostly easter paced 22 In of nearly by Bloss Plough.

a

Brokers generally termed to- duy mild rally largely

140 the technical response previous season's heavy sil-off but a few took note of the day's between mrethi

and Eisenhower Department ante advisers.

Washington, Sept. 20. The United States suffered another heavy loss of gold last week.

of

The Treasury fudy reported that slocks Hold held by the United States on that date totaled 539.303,- 113.7 omces valued at US$18,- 878.758,977.

President his top

Speculation

Extra Byarımies General Küschtic

General Foda

General Motors

30

METC

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 21, 1060.

HONGKONG STOCK EXCHANGE

Our Own Correspondent

done at the Hong-

Business kong Stock Exchange this moning amounted to approxi- mately $438,000. Noen quotations and the morning's transactions:

•Shares Buret Sellers Hates BANKA HK Bank..

20170 1690 1193 INSURANCES Union

£13 Lamband... 331 SHIPPING. Wheelock.. 1,73

10 1100

DG

London stocks continue to lose ground

London, Sept. 20.

Stocks tumbled again in sensitive markets de- pressed by Wallstreet's overnight plunge and upset by unfavourable news in the motor industry.

Minus marks dominated tha board from the outset, although early marking down jactles by dealers discouraged heavy selling, 3300 7.76

7.00

600

7.00

Gr, Pub. ÜLI

¦

den. Tel. & Else,

Gen Tyre & Rubber

38

Glades Co

371

Goodyear, Tyre

301

Grunign Aireraft

Great Northern Railway

4055

2000 1,75

4054

2016

DOCKS, ETC. İkick

101

102

2004 102

Hanumand

Hayoman Refrig Idaho Power Imperial Oil ..... Imperial Tobacco ingernail-itani

and Steel Co. Interchemical Carp

urness Machines flarventer ...... International Paper It T & Tel. Kalmer Industries

C Power & Light Kennett Copper The meeting immediately Kimberly Clark

Liggett & Myen Tob. Du. ented speculation among some bis Tulp

to whether the | Luckhoed” Alternit observers

make Lews Ineary, tem would! of Federal reservo

Lone Star Cement Co. yas a decrease US$59,875,607 held on Septem-aitional credit-casing moves, bee . the daily statement of including another - reduction

margin requirements, the Treasury showed.

This

The drop in goid stocks whe recorded so for The sharpest

in the month and brought the decline tran September 1 to 3,617,412.8 total of 15 604es valued at $128.009,431,

menik et Ang

Fo the

vick

slaved a decline

US$:38.709.190.- - Reuter,

Today's volume was 36,860,- 000 shares.

Of a 1.236 shares traded 479 were higher and 529 lower. American, exchange volume was 950,BD shape...

F: volume amarated of $4,870,000..

Tow-Jones

WORLD COCOA

STOCKS IN EXCESS

pressure

12

אווו 20

wenstein

McDermott J. Hay. McDonnell Airerati Merck

Mesall from Corp. Monsanto Chemical Co. Montecaling

Malorals Inc. National Birguit. Co. Nation Cork Reg. "A National Dairy Prod National Load ....

*100 48.182

GO 1039 501,

Talkou Dock B

Provident

LAND, ETC.

HK Hotel

30.10 20.00

HK land XD

** 9 8

1000

20059

1000736

20 @ 671L

21 a 31

200, 814 Humphreys 23.38 1776 1000 7 1.53

Really

23.50

5000 1:778

UTILITIES Youmatt

179

Trail ......

31 31.70

200

100 175 100 178

stil

Cheap buying brought Some recovery among the leaders but many blue ships wore down at the Anai Courtaulds, Dunlops

vickers all

were fractions

bell.! and

off

and Tube Investments three shillings

Towor at BOB. Lancashire Steel and duast

Keen wore losers in steele with Allied Iron. Imperial Cheinient Industries recovered to close at 068 100.

NEW LOW

In motors Fords dipped two:

625 d

Food and Tobaero.

American Tob; Co., ..-- Tn.pertal Tobacca Co, Ltd--922

ellaneutr

Boardman Marion Build}, Drilish Oxygen Lal, Ond-331.

•Canadian Paville' Bly-43ÐIL. De La Que Co. Oft-14NTELL Dunlop Rubber Co-

When Holding Ltd-La Agu. Hongkong Chitta Gir-1. Imperial Chinical-40% 10728. lyon & Co--B0%, Unilever LAÏK KL

Paper Bowater Paper Corp Aid-307.

Radio and Eletricat Apiocisted Mectricd81. Electrical & Musical-47 Eaglial Electric Co- General Electric-3 Gd.

shipping Indo-Ching nrd---22

36

34. Bu

Problems of sonic

bangs in building

jet airliners

Cardiff.

PROFESSOR E. J. Richards of the department of aeronautles and astronautics, Southampton University, thinks that before building supersonic NAV. Co. dot | airliners, Britain should study the annoyance like- 20 Steam Navigation det ord-ly to be caused by their sonic bangs. p.

31.13 shillings but edged up to, end Great

800 31.50 10d lower on the day at 945 nd 100 31.75 3d. Becirie XD 27.70 21.00 1009 M 27.00 600 3730

Lights

200 31 31 100 a

317 of 27.70

29.00 22.70

030 22.00

100

200 22.03

22,70

23.07

Cas Telephone

XD ...... INDUSTRIALS Cement.

149 14.70

33% 34

34 臨

1812

100 64% 500 G

3815

STONES, ETC, Dalry

North Amer. Aviatk

685.20

Northwal Airlines (Cons. Ukichumy Nat. G

Wision COTTONS

Nanyang

to Naftoral Steel Carp

New York Central Noranda Milnes d.

closing averages Norfulk & Western Ry.

30 stelu14

utilit

40. 110

Coman, future price Index

143.53

Closing prices

Abitibi Pwr. & Paper

Algun Steel Corp.

Allied Chemicals

Ailled Mills Ine

Am. Brake Shoe

All Chalierens

A. Cable & Radio Corp.

American Cyanand Co. Am, Gas & Electric

Ar. Home Frud,

Am. Mach. & F dry.

American Metal Am. Natural Gas

New York, Sept. 20. The continued rise of world coena stocks is exerting in prices, trade sources reported today. World cutput r chocolate American melting Twee's

the

ending Am. Sugar Ref. year

American T & TH Sepember 30

ometally

American You. Ampex Pjmated at a record one mii- Bon tuns, or about 115,000 tons above camaumption. The excuse of production over calvunption in the 1958-59 season probably totalled over 35,000 tons. It there Another erop in 1960-61. prices. probably decline further.

.....

Anacanda Copper

Arica Strel Armour

Baltinwre & Ohio Bank of Montreal

Bank of Nova Scotia Beech Lite Savers

Hood C. Tel:

will. Bell Telephone

The sources noted that two things could changu cucca's pricing course-heavier Russian

Benudicial Finance Benguet Cors.

entenem Steel Tineing Airplane Borden (The) Co.

Burroughs Add Machine

buying and African unrest. British Anter. Ou

AP,

Agreed merchant

rates

British Colunthin Elec. Calif. Packing Corp:

Campbell Soup Co.

Cat. Tractor

Canadian $: maximum selling Colombian, Chaban Cu.

10-31/32,

minimum buying Carning Glass Works

17-7/32 T/T; 17-9/32 O/D,

120704

it Mathieson

30 Elevators..... 197.16 Owen-lil Game

Oxford Paper. Co. 84.01

Packle Gh & Bea Pan American Airways

Paramount Potures

Fake Davis Co.

Venny J.C. Co.

Phip Morris

301

254 Publieker Industries

Rico Conjuration

Katheon

40

British

Melor At one time Corp. hit a new 1000 low at 15s

Stores

Universal Stores "A"-40%

Marks & Spencer Lid-184 od. Woolworth FW, & Co-15s 10lja.

Taxtline Conte J&P L{d=59x. Contrtaulds Lig-308 Had.

MELDE

Cous Galustekte of Sauth Africa....... 001 4444

Lad

Cone, Zine Corp, Ord—13, ed. De Beres defm14% 4. linhlong Thai Poining Tin-110. Rand-Bos.

Southern Kinia Cuts Lid-35% Rd. Union Caro—SBR 01.

West Driefontein Goldmming-an 4:48.

The engineering section of a relentine conference told that, Just as the bow waves of the Queen Mary at full Southampton

speed in waters would

Cutting down of

swamp toets along the shore airport red tape

$0

the

and righion people, presture wave of the supersonle airliner night damage bulid- Ings and frighten people along

ite route.

Over most of the route, there Jumps of would be pressure Dround one point per square

Od before staging a slight 'tro- provement. Jaguars dropped

round three shillings.

Small selling hit revenynent bonds and the gilt-edged fails ranged up to 3/10ths of a pound. Foreign bonds stayed in the doldrums. Dollar stocks fell in step with Wali-street although

! 200 a 290) Shell ended a fraction higher

Cold shares `regained, some !

British Borneo Petroleum Syndi- ground lost of the opening and cales 7:5d. 13.58 13.00 1000 @ 1340 | coppers joined them

Britis in the a

Petruleum-1 irmah partin! recovery. Diamonds Dd."

Drilish slayed Arm.

Erratic

movements marked Burmph- Bet. olls which closed little changed. Royal Dutch Petroleum-£11%,

1 Shell Rubbers were irregular and ed."

Transport & Trading--135< | JUSTIFIED

-Reuter, teas held stondy.-UPI.

201 17.30

NY sugar market

New York, Sept. 20.

World No. 4 sugar fatures to- day closed a point lower to a point higher on sales of 65 contracts.

Closing prices

British £80-3/16.

Blitedged Bonds

Troneport 2%, 1978/60-

Consola 291⁄2~£€+3/}0. Cono 06-15/10, Conversion Loan 37, 1902-

Funding Luan

1038/40- 200-8/10. *Funding Block 3127. 189/2004–

Funding Loan

1900/00- 4

Bavings 3, 1985/05—2281. Savings 3, 1960/70-278).

Domestic No, i sugar Future two points lower to unchanged | 48ATS.

on a turnover of 15 contracts.

312

Pitney Bowes

31

Pengler_&_Gamble Ca. Portland Gen. Elec.

50

Pure Off

uilman

561

Radio Corp. Pret.

140

Republic Steel

Reynolds Tobseco

Royal Bank of Canada

OLEP

Royal Dutch

Bheem Mfg:

N25

6

Safeway Stores

23: Sears, Roebuck de Ca.

20%

Saint deg, Paper

461

Schemloy Inc,

38

Srett Paper

31

Stegier. Euro,

Sinclair Out

3416

ing.

38%

Smith, Kine & Fresch

402

Secony Mohl Oil

60

42outin Co. The...

South Puerto Rico Sugar

142)

4712

514 Southern Pacific Co.....

Southern Natural Gas

107

Southern Railway (Com.)

42

41

题

Sperry Hond....

2015

Standard Oil of Cat.

461 4994

Standard Brancis

Standard Oil of Ind.

Steel Co. of Canada

20 Stone & Wobiter...

duy

"002

The world spot pasillon held the spotlight most of the with advance stretching to fivel, ** points on further short

cover-

However. demand gave out near the close and the position ended unchanged.

Small business was done al | unchanged prices in the cash market and India is expected to offer 50,000 tons of refined sugar! for sale as 300m 16 exporters obtain licenses.-UFI.

Exchange rates

Business was done in the local

Banke Bank "A" Barclay's

Lid ord-

Chartered Bansk-18 d. -Hongkong- & COLE

Lloyd'a Bank

d

Batik-d's

12.

· National & Grindlays 34.

Westminster

Bank "A" Non-Cumulative 13

Insurance Untion Insurance Canion--EFI.

Alreraft, and Motors

Dritish Motor Corp. Ord-15s Du. Ford Motor Co–948 34.

ad

01

foot after the plane passed

evcrbend,

That need not be a worry, he Petroleum Co., Ltd-17 said, on the transatlantic route between Landon and New York.

RUBBER

MARKET

REVIEW

New York, Sept. 20). Rex rubber futures today to 65 points closed 25 lower on sales of 52 con. tracts.

Despile firmness in primary marketa local futures declined again on profit-taking and Hlquidation today, with the sput position the biggest loser as sup- plies arriving from the Far Exist were considered

more

than

flowker Siddeley Group Ord-30cdequate to meet all commit-

mants before expiration.

Holts Auyer Ltd Ord-40s 7150. Router Lid “A”-09, 154, Standard Triumph International- 34 34.

Breweries

Mellier Co 42.

South African Breweries-23 64, Building & Materials Associated Portland Cencat-001 11.

Ord-40%

Coal, Steel & Engtasering * Babcock & Wilcox Lid-35A 111d.

35

Studebaker-Packard Corp.

4331

Sunshine Mining

Canalon Pocille R.

22 Swift & Co.

41%

2031

Texas Co.

729L

Celane Carp.

23

Sal Textron Ino,

C.LT. Financial Corp.

$71,

Thiokol Chem.

Chrysler Motors

42

Pide Water Oil

Cunit Peabody.

5002

Time Inc.

8516

noficial

exchange market

this

Colgate-Palmolive Co.

313 Tri-Con. Warrants

Tradera Finance

3774

morning at the following raten:-

2142

US. dollar (por $1)

6,67

Goodless Wall & Lead

Conumerelol Credit

GUTA

Twentieth Century Fox Fil

30%

Sterling nutes (per £}

15.88

10d.

100%

Union Carbide

112%

Australion noter (per £1)

12.05

Consolidated Edison

0714

Union Oil of Cal......

4034

Indonasian rupiah (per 100)

2.00

Union Pacifle Railway

2254%

Simm Meals (ver 100)

20.15

Consumers Gas

United Aircraft

Singapore (Strolls)

1.80

United Scel-626 20. Vickers Lid-31 19:44.

Continental Can

19

341

Continental O af Del.

Creale Pet.....

27

U.S. Gy

Crown Zrirach

404

U.S. Rubber

Cuban Amer. Sugar

1st

U.S. Smelding

Delaware & Hudson Co.

303

Steel...

Diamond Gard

Duminion Stores

07

2015 Warner Bros.

U.S. Steed 7 P.C. PF

Douglas Aircraft,

28

Wealmghouse Air Bruke

Dow Chemical

783

Westinghouse Electric

Setler

Dupont de Nemours

167

Earinan Kodak

West Va. Pulp & Paper

Swiss Franes; maximum reli- | Consolidated__Paper

ing 70%.

West Germans Deutschemarks

maximum selling 724.

HK UNIT FUND

Buyer Price $0.00; Frice $1.01.

P.O

El Faro Natural Gas

ORIENT LINES

R.M.S.

“CORFU”

EMBARKATION NOTICE

Truth foc, United Kingdom via Singapore, Penang, Colombo, Bombay, Aden, Suez-Port Said.

EMBARKATION:

Passengers should. embark between 2.30 and 4.00pm on Friday, 23rd September The ship als expected to sail at 5.00 p.m. on 23rd September, 1960.

BAGGAGE:

SAILS:

it's fr Passengers are requested, to send all baggage for Hold and Bagage, Room and much Cabin Baggage į na possible to the.. Hongkong & Kowloon Wharf Co.'s Godown Entrance at No. 2 Gate, Canton Road, by 5.00 p.m. on Thursday, 22nd September, 1960.

The ship is expected to sail at 5.00 p.m. on Friday, 23rd September, 1980. SUBJECT TO CHANGE Agents.

MACKINNON MACKENZIE & CO. OF HONG KONG LTD.,

131 United Fruit .....

United Cax Corp.

Western Union Tei, Co.

Winn-Dude Starer

Woolworth (K.W.)

Zenith Radio

11511

Europe's iron production shows drop

Luxembourg, Sept. 20. The European Common

Market's coal and steel pool iron production dip- ped to 0,900,000 tons dur- ing August, 7.2 per cent less than in July.

production

July's

7,400,000 tons.

Was

France suffered one of the sharpest drops as its production slipped 10.1 per cent of July's | output.

Ib.:

Yesterday's Closing

Dealer interest was poor and

Copenhagen. THE "psychological ap THE

proach" in customs con- trots is holping to cut down red tape for passengers fly- ing in and out of Scanding- vian airports, delegatos to the annual mooting of the International Air Transport Association were told hera.

Scandinavia was praised by members of the angulation's But not all cities were so con- "fucilitation group" for out-

SUCCES in veniently separated and it was standing

sloshing unlikely thai the building of international red tape affecting supersonle airliners. could be passengers and ergpes. Justifled for that route alone.

Yis requirements have been Professor Richards sold that cut for nationals of most coun- questions which must be an-trier, and passengers' baggage cleared through customs within eight minutes of

swered before the. plane was is built included:

•

FAR AHEAD

What level of bang would rivals. the public tolerate?

remain when it was known that none nced exists?

•

Would the element of fear

Would pride of achieve ment at such an aircraft being British alter the situation?

⚫ Would chlidren continue to be awoken when no repetition occurred and no element of fear was introduced, as with thunder and lightning? China Mail Special.

consumer offlake nil, In ship Revolutionary form

ment rubber nothing was done and offerings were above the current market price:

In London, the rubber market was easier with spot quoted at 30-38/16.

In Amsterdam, the rubber hardly steady to- market was day with all prices CTF October. -FI,

COMMODITY PRICES

SUGAR

NEW YORK

Closing prices all in cents per

Contract No. 4 (world)

Oct: 3.10n: Jan; 3.20n; Mar: 3.10%; May: 3.0; July: 3.136. Spot 1.A.S, Cuba); 3.25.

Total Sales: 03 contracts.

Open Interest: 2,596 of 213.

Contract No. G (domestla) Nov: 0.120; Jan: 0.006; Mar: 0.030; Spot (C.1.1. NY. ex-duty): 0.15.

Total Salun: i contracts,

-UPL

COTTON

NEW YORK

Closing prices all in cenia péri 113.:

Spot: 32.4m; Oet: 31.38b: Dec 31.320; Mar; 31,02; May: 32.18bi July: 32.10; Det: 31.42; Dec: 3241; Mar: 32.05 May 52.70:

NEW ORLEANS

Closing, prices all iri cents per

Ib.:

Spot: 30: Det: 31275: Dec: 31,30h; Open Interest: 043 contracts up 10. Mar: 31.70b: day: 3.13b1

July! 32.11b; Cct: 3A2; Dee: 34,000 Mer: 32.60b; May: 32.05.

RUBBER

NEW YORK Rox rubber futures closing prices, all in cents per lb.:

For the first eight months of this year, however, production was well above last year's out- put for a similar period.

During the eight months per ib. $3,000,000 tons of iron were turned out compared to $7,200,000 tone for the period last year;

Despite its drop in August, France recorded the highest total for the first night months of the year with a 11.0 per cent increase,

SAO PAULO

(Closing prices all in cruzeiro) per kilo):

Oet. ungstated.

100: 9000

Average prices in 1.8, at 14 de algnated spot marketa: 30.03.

Total: sales: 41,255,

LIVERPOOL

: LONDON

Closing prices, all in sterling per long ton;

Copper

8pot

3-month Zinc 2nd halt Sept. 2nd Dac Lead 2nd half Sept.

2nd Dec.

230HL 23016

23034 23045

of goods transport

London. THE Road-Railer, describe TH

ed by British Railways as a "revolutionary" form of goods transport which trayals on road or rail, was

**

Mr Solve Haegerstrom, chair- men of the group, said western Europe generally was far ahead of America and other parts of the world in cutting out formalities, He sold all coun-

to

cuit down tries must try fon-Alling for

passengers and reduce cargo delivery time from days to hours.

"Outbound customs controls have been abolished in proe- Bee in Scandinavia. For in- bound baggage, customs officers practise B paychologkal Ap- proach with a sample check- here and there.

"The Important thing is for passengers to feel they can_ba grabbed at any time. But Baggage is seldom checked, and

ld-China

the system works every well," Mr Haegerstrom Mall Special

damonstrated publicly hare Heating winter

for the first time,

The

in-

vehicle, conceived roads for safety

dependently by British railways and the Chesapeake and Ohio railway of the United States, is being made here by the pressed steel company.

After the Road-Raller has

Cardiff.

DRITAIN could hayo safa Dwinter roads by houting

picked up is load it proceeds danger spots at a cost of by road to a nearby railhead and about 2/6 a square yard, a fr a two-minute operation is scientist declared here. Buyers Sellers changed into a rail wagon.

Mr WI. J. Price, principal When it reaches its rail des- i solentifja afloor of the Road Batination, tractors take it back | Research Laboratory, Was DA to the road for the final addressing the mathematics and Journey.

physics section of the British Association for the advance- A British Rellways spokesman munt of science, said he hoped the vehicle would Increase the amount of foods carried by rail.

70

70%

-UPI.

FOREIGN EXCHANGE.

W

NEW YORK Closing rates: Canada England official

Bandage RO-day

1.03

28158

#1.8008

28000

Australia

Now Lealand

2.2521

21.8106

South Afric

2.8103

DeDKTO

.1437

Closing priced all in penes per alum

American Contract

Oot: 2345: Dec: 20.61; Mar: 22.70; May: 25.70; J013) 2278,

Miked Contract

Oct: 23.00; Dec: 22.901 Mart 13.00; May: 23.18) July: £10-UPL

Bost

56.001

Nov.

30.06b

Mar

34.056

Ib.;

May

33.Sub

July

$3.000

Sept.

32.76b

LONDON Closing prices all in pence

No. 1 Row spot Bettlement house termi

Oct./Dec.

· DIEG

2010

Apr/June

July/Dept.

20-11

General Marioeta, 0.1.2. bord

Dot. Nov.

parts:

Luxembourg followed with jera 19.8 per cent Îfierenso, while Weat dormány andi Italy stood at 8.0 arxi 4.7 per cent, respectively.

Xalnie, czupe. THIS.

AMSTERDAM

Cisalpg prices all in guld per idiogram, 6.1.4. dot. (No. 1 rubber

No. 3 rubber.

BAD KONSE

METALS

NEW YORK

Denmark

W. GermanY

folland

Norway

Bweden

Switzerland

India

Pakistan Hongkong

LONDON

Closing rates![/ New York

Closing prices all in cents per Prakrutá

Montreal

Amsterdam

Brussels Copenhageni

Labon 10.60 Oslo

Fatig 10.477b Bookholm 11400

Others squi

Zind

231-7/10-4.81-9/10

10.01)(-10.61% -14035-140/50* 10.236-1933%. 11,703-11.743

34.63/5-14.8%**

FLEXIBILITY

"We have allampied to pro-

The Association has been meeting here with nearly 4,000 selenilaia and laymen attending lectures in 15 different sections. Mr Price reported on the use

duce a vehicle which comblies of an electrical grid system at the flexibility of road delivery icy spots in Edinburgh, Cardin, with the speed of and economy and Slough, Buckinghamshire, of railway haulage," he added.

"It is the first vehicle capable of running on both road and rall equally well without reparate attachments,"

The Road-Raller will be avali able for sale in dibetantial num-

He said the syylem was throo ther As expensive de solting and grilling tey roads, but its effectiveness justifiat lis cust. DÉTECTOR-

A weinpan detector and an ico

·bers in two or three years. It pestitor, used with the system,

Is, as yet unprioedi. ›

thebled cables two iichuki below

The vehicle has two sets of the surface to begin wming “a

whosis which

wed roud as doors as its tempera- on

· operato

swivels worked by compressed to fell below 37 degrees.

Fahrenholt.

Installing the ayatam enst The food wheats can be re- tracted like an alrerait under-sbout £2 to £2 10/- a square Andringe anct the rall wheels Yard, sald My Price. brought down in their place. But runking seka - averaged On the rail the vehicle runs about 2s och a square yard overy on only two whools its front winter |eful-bolng-hooked inter: the rear,

of another road-railer in front./ It would be too costly to heat The front and of the vary first prove copt but oæsidents tended rest on a special adapter, begin to pluntat on certain section.

lon capry up to top of wits allt und grit, it agoda (and this, & cisimed, rali equin tɔis done to combat “ion, Hound of clap to 8), miles per added hir Prices-China), DENKE hatir all China KM) BONSAI,

Special