1960-09-22 — Page 2

THE CHINA MAIL, THURSDAY, SEPTEMBER 22, 1960.

UK TRADE WITH EUROPE

HONGKONG Commonwealth London

STOCK

EXCHANGE

B

Our Own Correspondent

countries must

be protected

London, Sept. 21.

Business done of the long- The Commonwealth Finance Ministers in

kong Stock Exchange

morning amounted to approx)-!

mately $1,017,000, Noon quotu-

tions and

actiuns:

Share UK Band

Lumbard Unic

Waterboal.

Wherlock

the morning's trans

BITTA

ור פון .

26.20

Seller

Kales 54 15

7.tr 74 24 70.

Ik Duck - 100 104

Provident. 20.20 com

25 19)

400 $ 104

2001 A TEN

SOU 20 TENE

11020 70

11

1

401% 41%

1k

and

XU

57:2 BOL

102 B

Yakkal

120

2139 300 130

JEK Tram

(1)

1

לון

Elreine 37 2709

X. Bla

closes strong

London, Sept. 21.

Stocks recovered today and

moved smartly up giving Industrials their beni showing in two weeks,

Wall Street

shows best gains of month

New York, Sept. 21.

their two-day meeting which ended here today agreed that in any negotiations concerning Britain and the European trading blocs. "The essential interests of Commonwealth countries should be safeguarded," according to an official front with a long list of gains, steels showing the better gains. Norfork & Western Hy communique tonight.

Stock prices showed their best gains in a month today as traders recovered more than a third of Monday's losses. Most groups gnished around Nallens Long their highs for the day with Notices Sleet

New York Cent metals, oila elcetronies,

Norenda Minen Ltd. North Amer.. Aviation Northwest Airlines Okiahama Nat.

and

two

The blue chips safied out in Wall Street's better over- IBM held on to a 14 point night look and a flow of good surge where most others in the

new electronics group showed company news sparked a

Im point rises. Poinrold odded wave of buying interest.

Chemical Industries over seven in the cameras, Vick

three surged nearly

shillings around 34 in the drugs, Lukens Prime higher to 095 7158.

nearly two in the steels, Alcoa Colton Lancashire

the metals and Jumped nearly two th The

The communique lasued after "The council agreed that they the Canmonwealth Economic would review annually the pro- | perial Consultative Council meeting | gress made.

The Commonwealth M.id:

The Council

Concern

Olin Mailles

Otis Elevators Owen-Biksie Glors Oxtory Paper Co. Poelie Gas & eo,

Pan American Airways Paramount Pictures Parke Davis Co. Penny & C Co.

Penn, Salt C

Phil Morris Pitney Bowes

Oils got a big play as the

Pituburgi Plate G four point gain by Portisnu Gen. Flee group moved in sympathy with Procter & Gamble Co. an early Monterey which is involved In Publeker Industries merger folks with Humble oli Putman

Pure O........ operating itadin Corporation und refining, the absidiary of Jersey Standard. Rusia Corp., Pret

Repablie Steel and AllanticReynolds Metal Issues two or more ground Refining more than a point.

Mortors were all higher with Chrysler up as much as 1.

Today's volume was 2,930,000 a total 1,214 were higher

also asked discussed the Ministers had economic problems in relation council to consider the question three shillings and nine pence Eastman Kodak well over three

and Courtaulds in the chemicals. to Commonwealth trade and in-, of exchanges between Common-to 72s 10d vestment arising from the erea- wealth countries of persons with met demand. Steels and en- 30

tion of the European 10X3311 #2

economic specailsed skills and experience.gineerings shared the upward European the

"The Council deelded that the movement. Electricals also im community and

ex- proved. 2.0 2.70 271 CA 22

best way to faster such Free Trade Association.

Changers would be for Common- HIGHER GROUND wealth governments to improve ininisters lateral arrangements between

Woolworths paced a buoyant "United Kingdom

all means in their store's section. Both Philips Honolulu and Wilcox gained there... expressed their concern at the them by

appropriate Lamps and nnd that

Univer possibility of growing economie power

arrangements should be devised, moved

trdigher divism in Europe."

they did not already among the internationala. The etinmunique continued;, where

Alling of the

Property, bank and insurance "Th courell recopiled the; exist,

as advisory counters shared the uplift but Importance of political and executives as well

technical 11

sharuy and gilt-edged were out of the ple

And eranomie unity in Western posts

ture and drifted fractions lower. shares traded 727 specialised nuture In Common- Europe.

which had Foreign tronds showed tile and 272 lower. "It was acerpted that in any wealth countries

but dollar Indepen- movemet

stocks shared a rash of plus signs on Ha tao negotiations that take place the, recently

Essential interests of Common-dence, нию 7.7

rally although Wall Street's should be wealth countries

rises stayed small, ** safeguarded and full

of the continuing 31.775 | Loke

GUO 22.71 54722.1:

25443 22.7

200 M11

1441 34

Dairy Farm 2030

244

Warn

Texith

H

10 2340)

2000'

** T*

13, 1870

Hulber

GL. Cement

Mmy.c

Anal

Tulber

TI

זינוון

Tuinphora ya

Italy

FR Ge

Metal Indust

1K & FE Tave 1

Mieta Eler Tatie 45r: " VIDER

415-5000 m &

139

72

301 2200% MA

100 500 23 2000 1.

10

m-

14.70 2350 140portance of Intra-Commonwealth H-1'

13.0 14.745

2.026

11.00 1299

IN 20

British oil

135race."

company's takeover bid

u

Aid to Africa Tonight's eramunique also nunouncer it had been decided to initiate a sperial Common - wealth Atrient assistance plan. The comanualque saki: "As requested by the Commonwealth Prime Ministers in their munique on May 13, the Council of co- examined the question operative action among members of the Commonwealth in assist ing Commonwealth countries (including dependent territories) in Africa.

wealth

Com-

for

of

achieved Reuter.

Encouragement

for Singapore

industry

From GORDON HUNG

Singapore, Sept. 21.

export,

A United Nations technical expert has told Singapore that she need not be pessi. mistic about her future "They noted that Common- ! London, Sept. 21.

countries, with others. just because she had no The British Petroleum Com- | were already

#kl providing

natural resources. pany-more than half of bilaterally and were also mak-

The

Mr Philippe whose shares are owned ing substantial rescurces avail- by the Government-sable through existing interna- Schereschewsky from the UN Technical Assistance Bourd, tional organisations. making

has been here to look into the| £11,500,000 in order to focus attention on

feasibility of a proposal to se takeover bid for Apex this effort and to help further in

upu M$600 million, Iron and (Trinidad) Oil Fields meeting the very great need for

In raising the steel mill on the island state. Limited it was announced assistance

Mr Schereschewsky said: "I standards of life in the less-

pretend here tonight.

that natural developed Commonwealth caun- do not Apex holds vil rights in tries in Afrles, the Council pro- resources are not enormous nɛ= Trinidad comprising 6.475 acres pose to initiate a special Com-ets, but it is remarkable

tew and last year produced about monwealth

that people with so African Assistance see

natural resources have deve three million barrels of crude Plon." olf. I the 1950 balance sheet. The communique said it sloped and progressed." the comjany hnd assets of expected that most Common-

and He quoted Switzerland nearly £7 million.

will provide Japan to substantiate his point. wealth countries

"Switzerland,' The Apex Board stated here assistance mainly in the form

he sold, "has tonight that it had reached Agreement with B.P. nn terms of its effer for the Apex Ismed capital and could recom anend shareluiders to accept.

The uffer subject to the usual conditions in £1 of ordinary B.P.

took plus 4/!—for

unit of 5 of Apex.

the London Can

to

of techndea! assistance of no natural resources, but it has

"including the various kinds

the a first-class hard-working and of experts. troining well-educated population, provision faelitics or equipment, or of they have done exceedingly the sharing of experience gain- | well."! ed in dealing with development problems."

Into

Gold mining issues showed few changes. De Beers went ahead in diamonds and coppers were quietly irregular,

Shell made a good market in uncertain oils while Royal Dulth

Dut advanced. Burmes

on o fraction.

Teas and rubbers were firm.- UPI.

Closing prices

£60-3/14.

Giltedged Bonds

British Transport

Console 21--- 2 15.

Console & 0072.

Conversion Loan 35.

Reynolda Tobacco

Royal Bank of Canada

Royal Ditte

Rheern Fl.

Feurs, Roebuck & Co. Shell Oil Co. Sateway Stores

Salat heg. Poper

:

Seberly Inc.

Son't Paper

Dow Jones closing 30 Industrial

averages;

Biogter Chen,

694.20

Sinclair Oli

130,00

Smith. Kine & French

Utilities

13.59

Sony Mobil Oil

Southiem Cu

(The)

20 Rails

BS Stocks

40 Bonda

Comm. future price index ...

Closing prices

Abitibi Pwr. & Paper Aiden Inc, Acy, ....... Algotna Steel Corp.

Allied Chemicals

Allis Chalmers

Am. Brake Shoe

American Airline

American Cable & Radio Cotp Alnerican Cyananikl Co... Amer. & Forgn. Power 1978/08-Am. Das & Electric

Ain. Home Prod... Am. Mach. & dry. American Idetal

(Cont.

158.70 South Puerto Rien Sugar

64.70 143.45

Boulham Natural Ga

Fouthem Paciße Co Southem Railway (Com.)

rand......

Sperrronds**

Standard Oll of Cal

Standard of Ind, 484.1andard D11 of NJ,

Steel Co. of Conanda

30

31

31

Steep Rock

25

49

19

Stialbaker-Packard Corp.

Sterling Drug Co.

Stokriy-Van Camip.

Stone & Wolwier

48% Summing Mining

Swift & Co.

Tide Watce Oli

Treders Finance

Travellers Inc.

630

Texne Co.

181

Taloku) Cheny

4

2214

Time Inc

Am. Natural Gas

681%

American Smelting

$2

Am, Sugar Ref. American Tel & Tel American Tob

26

D2*

812

1000:90-

Ampex

1901

Funding Loan

Iben/00 * £14

Funding Stock 31. 1999/2004 £54.

Funding

47. Loab

Savings 24, 1856/65—CBBIT. Savings 9, 1200/70-7526. Savings 1985/75-7.

Bank Barclay's Bank "A" Ltd ord-6 Chartered Bank- td. Hongkong-COFA,

Anaconda Copper Armeo Sleet Armour

Asbestos Corp, Atlas Cons. Mining Baldwin-Lippi-Hati. Barimore & Ohio Bank of Montreal ... Bank of Nova Scotia Beech Life. Savers Bell Telephone 12% Beneficial Finance

loud Bank A-G6s f. National Grindlays Bank-35s

Gd.

Weauninter Bonk "A"

Non-Cumulative-42

Insurance Union Insurance Canton-£54. Aircraft and Motors 'Uritish Moter Corp. 30550,

td.

On-15s

Ford Motor Co-Bɛ 4158. Hawker Siddeley Group Ord-318 Rolls Royce Lid Orta 34. 2001 Lld "A" 34. Standard Triumph International

Bs 3d.

Breweries

Diller C-421 7kd. South African Breweries 23 d.

Building & Materiais Associated Portland Cement-7 Glans Wall A Lend Ord 40%

and

Ad cur.

ADVANTAGES

Turning to Jupor, he said:

Japan

46.

some 10

Cost, Steel & Engineerin Babcock & Wilcox Ltd--3.0

United Sterk-fils 3d.

It added: "Assistance will be "Although ench stock

given bilaterally and by In-natural resources, she has Stuck Ex-creased support of existing in; import a lot of raw materials."

orgmisations and change day B.P. shares finish- | ternational

He sold Singapore had a lot

*privileged advantages. ed at 47:9. With the 'cash pay contact will be maintained with for

those organisation ment the offer is therefore us- timated at 52/3 per Apex share. other governments which

--leuter.

and

active in this field.

P.O

ORIENT

LINES

R.M.S.

"CORFU"

EMBARKATION NOTICE

for United Kingdom via Singapore, Penang, Colombo, Bombay, Aden, Suez-Port Sald. EMBARKATION:

Passengers should embark between. 2.30 and 4.00 p.m. on Friday, 23rd September. The ship is expected to sali at 6.00 p.m. on 23rd September, 1960.

BAGGAGE:

SAILS:

08

Passengers are requested to send all baggage for Hold and Baggage Room and much Cabin Baggage as possible to the Hongkong & Kowloon Wharf Co.'s Godown Entrance ot No. 2 Gate, Canton Road, by 5.00 p.m. on Thursday, 22nd September, 1900.

:

The ship is expected to sail at 5.00" p.m. on Friday, 23rd September, 1960. SUBJECT TO CHANGE Agents.

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

Vickers LIE 32 30.

of the most important | ed."

with Four

are ones were;

A fantazile geographlo loca- tion;

An educated and culture population;

A population that was hard- working; and

Great_trading experience,

he

Mr Schereschewsky said Was very impressed with the eagerness of the Prople of Singapore to learn.

He said that the Singapore Polytechnic and the Naval Base Apprentice School would have o good selection for the future industrial personnel of the state.

Singapore's new import duty bill

Singapore, Sept. 21, The Singapore Legislative Assembly today passed through all stages a bill empowering the head of state to impose duties on particular Imports after recommendation from government committee. The bill was described as a consolidating bill' bringing together under one heading pro- cedure

imposition of

for the

import duties

The Finance Minister, Dr Goh Kong Ewen, who introduced the bill, remed the bill's provision for a committed to hear public objections to import duties on particular itema.

Ule denied opposition claims that the bill tended to under- Hibie Binkspord's Alálta ki a free, portale.

Food and Tobacco

Britia American Tob. Co., Ltd | 62 7 d.

Imperial Tobacco Co., Ltd-98

MiscellaneouN Boardman Marden Ltd-3 10%, BYFLA Oxygen Ltd. Ord-30s 10.

Canadian Paellie Bly-$40, De La Rue Co. Ord-149 Bd. Dunlop Rubber Co--32. Gilman Hulding Ltd-28 445. Hongkong & China Gasis. Imperial Chemical-s 114ch Lyons & Ch00 711d. Unilever 6-181 0.

Paper Bawaler Paper Corp Ord 572

Radio and Electrical Aviated Electrical-49 00, Plectrical & Musicals Dd. English Electric Co. Geners: Electrie Co0.

abipping Indo-China Steam Nav. Ca. ard-228.

Bendix Aviation Corp. Benguel Cony. Bethlehem Steel Boeing Airplane Borden (The) Co. Burroughs Add Machine British Amer. Olt Calif. Packing Corp. Cena, Dk, of Camm. Campbell Soup Co. Canadian Pacife ft.

Cont. J. I. Co,

Cal Tractor

Celanese Corp.

C. I. T. Financial Corp. ... Close Manhat. Bank Chrysler Mators

Cluett Peabody Colgate-Palmolive Co. Colorbion Carbon Cu. Commercial Credit Corning Glass Works Consolidateci Edison Consolidated Paper Consumers Gas Continental Cen Continental Oll of Del. Creole Pet

Crane Co., ***** Crawn Zellerbach Cuban Amer. Sugar Delaware & Hudson Diamond Alkali Distillers-Seagrame Douglas Aircraft Dow Chemical

Firestone Tyre & Rubber Flat Nat. City Bank Ford Motor

Georgia Pacifie

General Dynamics General Electric

Cheer Foods

del Geral Motors

Gen Pub. Viu.

P&O Steam Navigation del orden. Tel. &c. 30% ed.

atores Debenhama. Kồ. Örtüs Great Universal Store

Tri-Cost Warrants

Twentieth Century Fox Film

Untor. Carbide

Union Ok of

2014 Union Pacile alway

404 | United Alteraft

United Fruit

United Gas Corp.

U.3. Fall "B

4:9

APL announces

new interline

air-sea agreement

N interchange agreement between three lead-

Aing shipping lines which will offer travel

agents and the travelling public the convenience and economy of complete interchange in Pacifie travel, was announced recently by American President Lines.

Joining APL in this agree- 274 ment are P & O Orient Lines 7112 and Matson Lines,

119%

00

72

elen on sales or RIL transporta- tion will be allowed at the rate- of seven per cent. Information part in the agreement can be clarified at their local offices, They have the the M.S. Tilluwah and M.S. Tjiwangi on the Orlent- Australia mun.

The agreement permits book-regording RIL's

on to travel ing Passengers ships of these three companies at half the normal all-year round-trip lares. These fares will apply to passengers mak- of the 35% ing the "eirelt our $71 Pacific" using the services of any of the member lines of the Con- Trans-Pacific Passenger ference, or combining these ser- vices with certain air carriers. Air carriers are brought into the agreement under the fol- lowing conditions:

BOK 00%

Tours Or

• Circuit Pacific. Trans-Pacific Orient interport

The

APL's three plush President Uners Cleveland, Wilson and Hoover are at present plying the trans-Pacific routes.

New APL

cargoliner

or to be launched

via APL

and the remainder by other sea and/or Ar entriers,

Trans-Pacific Or Interport

• Round-The-Work

Two

new zo - knot,

modern cargoliners will

dua

Round-Trips. One-way viaĮ be calling Into Hongkong APL and the other by air under tha American Pro- or sea carrior.

sident Lines' flag during Traffic. next year. The first of thong (APL's participation.) One

President now ships-the direction way in either

to be (trans-Pacifle) via AFL and Lincoln-is the remainder by other sen launched on Monday, Sept. and/or air carriers.

The 28. domestic section New York/ California (Intercoastal), in either direction

br may cmitted.

• Normal tarif

will still apply baggage.

Ticketing and

The President Lincoln, first of the two Sea Racer class cargo- in service in liners, will be conditions February, 1981 on APL's round- as regards the-world routes.

other

An interesting point about, the

that the pro-Irunching

event

at American Preddent Lines

eedural mätlers can be clarified takes place almost 100 years to the day that Abraham Lincoln was elected 16th President the United States,

31 icral offices.

40%

31

25%

di

U.6. Gypsum

120 | 0.8. Life Co.

251

U.S. Rubber

4314

DO

7.8 Smeung

8112 1.6. Sted

U.S. Steel 7 P.C. P.F. Warner Bros.

402

Westinghouse Air Brake

Westinghouse Electric Western Union Tel. Co. West Ya, Pulp & Paper

Winn-Dixie Stores Woolworth (K, W.) Zenith Radio

of

The 23,000-ton cargoliner s due to silp down the ways

at

In addition to this tri-partite agreement, Royal Interocean Lines have also announced that they will participate in this new

4.15 pm on Monday and will interchange service for their herald the first half of

а

2414 part of the circuit tours of the US$32,000,000, construction pro- Pacific between the Orlent portsject which will give APL two

to giant ships that will

among the largest,

46

403

370

of Japan

and Hongkong

Australia.

This will

per cent reduction.

amount to a ten Commis-

Yesterday's Closing

COMMODITY

METALS

NEW YORK

Closing prices, all in cents

SAO PAULO

୦୯.

0030

Dec.

D060 (Closing prices oil in ertizeiro par kiloj

Average price in U.3, at 14 des signated spot markets: 30.49.

Total sales: 30.044

LIVERPOOL

tank fastest and most modern cargoliners sailing vader any flag.

PRICES

AMSTERDAM

Closing prices all in guilders

per kilogram, cit. Sept,

No. 1 rubber......

No. 2 rubber

No. 1 rubber

No. 1 mepe

237 buyer

2.03 buyers

2,77 buyers

-UPI.

NEW YORK

Closing prices all in cents per

2917

per lb.:'

7044

Lead

Closing prices all in pencð per lb.:

2

SUGAR

Dupont de Nemoury Eastern Air Line .... Eastman Kodak

.189

Sept.

10,800

Oct,

10.000

American Contract

.....

110

Zinc

Oct.

El Paso Natural Gas

5336

Sept.

11.026

Det.

22.03

Oct,

11.025

Mar.

Ferro Corp

SER

401 Coppice

MAY

22.89

Sept

27,74b

July

22.80

7434

15.

Oct.

29,00

0311

Mixed Contract

404%

Tin unquoted.

Contract No. 4 (world)

Oct.

38

LONDON

Oci

Dec.

Closing prices, all in sterling

Jan.

Mer

Mat.

per long ton:

May

May

Tin

July

July

UPL

Spot

Spot (F... Cube).

2012

3-month

0061

Zolni Balan:-108 -gontructt,

Gen Tyre & Rubber

Copper

Open interest. 1.597 off 9.

Detty oil

15

Spot

23G

Contract No. 6 (ũómentio)

jo

Glidden CD.

-month

κάν

1.006

Goodrich Bo

Zine 2nd half

10.00%

JM

Goodyear Tyre

Begt.

Te

Mar

Great North Raliway

Ded.

Lead 2nd hotf

Sept

70

Dec.

70%

UPL

Rex rubber futures closing prices, all in conls per 1b.;

Sept.

34.006

Nov.

34.89

33.769

Mar.

X1950

May

July

Marks&Spencer Lid-27 1DU. Woolworth J. W. 2 Co-799 cer.

Texilles

Contd JP. Lató-836 Od. Courtaulds Lio=87% 40.

Mines

Cons Goldfelds of Bouth Africa- 00 1110.

Grimmigo Ainerati

Out o

Hammond Organ

Heyden Newport Corp.

¦ Fornesiske, Mining Co.)

Human Hotzig.

Comm. Zine Corp. Ord-701 04 : läska Power

Cos

Du

def---18 101k,

Hongkong T[n—D] 1815d."

Petaling Tin- $14.

Hand-sid

Bouthern Kinta Cons, Lube Tkt. Union Cory=-40% 154,|

Imperia OR

! Imperial #obacco

Inparsoll-

Pyland

Interchemical Corp.

Int'l Buster Machines

West Driefontein Goldinining-064 Insertsona

24d.

On

Paper

Int'l Tea de Tel ......... Bellich Borneo Petroleum Syndi- | Fakna-Manvile Co. entendis Tijd.

Heiser Indelicias. Bellish Dormal Petroleum=-14. 21. | Kennecott Copper Britia Petroleum Co., Ltd-471 | Kamotty. Chak

geeft Myers Tob. Co. Burmah-301,

Ly, Tulip

S

Royal Duel Petroleum-£1146.

Transport & Trading-12h deur.

-feller.

Exchange rates

Business, és done in the best unofficial #ketingo tet tils boring Use Ekwing retakimin

16107 Eterling total (per #1), give

bokep, they #131*** Antónlistin Simakupie 180) ** slam UchaME

COTTON

NEW YORK

RUBBER

NEW YORK

32,006

SINGAPORE Closing prices all in Straits

Boot (CHY. ex-duty) 0.16

Total : 20, corrirwota

Open Interest: 645 unchanged,—UTI.

FOREIGN EXCHANGE

NEW YORK

Closing, rates: Engseed officiat

50-dare

Closing prices all in cents

Der lb.:

celts per lb. fo.b.

Malayon canada

Spet

22.40n

ports:

Oct.

31.70

No. 1 Sept.

1023

Dec.

31.375

No. 1 Oot,

102

30-Daya

Mar

21.83

TTO, 2 best

1001

40%

MAX

3.13

No. 3 Sept

New Zealaich

Lettori Ink

Looked Altonati

July

31.30

No. 4 Rept

07

BOUS AUTHOR

8186

22.439

Spot rubber unbated..

10:21:

000000

Krave Inoord.

2314 Chic.

Blanket erUPE ...

NOT aspe

Lone Blac Deement C

Lorilles P

Mar.

22.001

No. 1 pole crepe...

Others unchanged.

LONDON

May

Lowaralaks de Bone,

NEW ORLEANE Closing prices all in venta

per 1b.!

per. Ib.t

Bput

No. 1 R, apoi Settlement hoiam teren¦

5011

Del

Des.

91.845

Pot Dec.

1016

$1,800

1.

McDormant J Rav Madonneil Alvorsti

bdators Development Molsong dirawery, Morámiko - Chenlöst

Ward

Mar.

טפל. בב

LONDON

Į. Claing rated!

Closing prices all in penen 19 Mock 2016-

General merkata, "bkt, bless borts:

Rifaté trade: Shin Dot.

det

HOT

£73 13/10