1960-10-04 — Page 2

THE CHINA MAIL, TUESDAY, OCTOBER 4, 1960.

Wall Street has one

Singapore imposes tax on

soap imports

of dullest

sessions

·

New York, Oct. 3.

Stocks plodded through one of the dullest sessions of the year today, finishing easier on balance.

Mugi lectronles were ott just blthough IBM was clipped for ard 7. A lower stevi output report for this week shaved fructions off that section

From Gordon Hung with Youngstown off around 2.

+

Ols performed brightly during the lacklustre day which

around Suw Barber

nearly 2, Honolulu Amerada

n point, 2-12, Continental over and Culfornia standard 1.

London

stocks

brighten

HONGKONG

STOCK EXCHANGE

1

Our Own Corremundent

Business Gone at the Hong- foong Stock Exchange this morning amounted to approd- mavy $1,600,000. Noou quo42= tions and the morning's trans- nctions:

Mhares

Buyers Bellary Hales

51180

NK Bank.. 詐 119

301

Lombard

#1215 04

230

Waterboat 25.00 20

Union

Whart

Wheelock

Duck

Provident 1. 21.20 21.40

BK Hotel

300 m 14%

India announces wide range of

import cuts

New Delhi, Oct. 3. The Indian Government has announced a wide range of import cuts to reduce the drain on foreign exchange reserves and to save an estimated 30 million rupees in the next six months.

Reduction

in price

of copper

New York, Oct. 3. 3002120 American Smelting and Ro-

7 7.80

1000 74%

100 107

400

100

1000 100

10007

1000 21,30

41

42

500 45%

IK Land.. 021 Yasmati Ferry Ex: A.

Tran

12

700 ## 6112 |

h

041

3

0%

40 ## US

100 95

314 300649314

23.40 2324

2000 23.20

1500 4 23.2

1200 23.30

3000

Singapore. The first brick in the tariff wall between the State of Singapore and the Federa-

Norfolk and Western with a 2 tion was laid with the lary point gain and Louisville and of a tax on all imports of Nashville up around 1% paced # the Renerally rn rail scellon white washing

by soup

a lite Vullies performed la ratner with United Gas up Singapore Government.

free port like und 14, Alugh

Americon Electric

London, Oct. 3. Consolidated In Singapore's Industries

Power up over i. Fav, since the independence of Natural Gog 16 and Distinctly brighter conditions.

14:0

the stock devoloped in the Federations Panhandle Eastern Pipeline up Malaya, Ineed

12 locally-made turi wall

market today with the 2. "Light" ".. tvcl !. rous going into the Federation.

of opening

the new On the other hand Federation-

account. made goods have always enter-

However, there

little Singapore free of duty like

busines transacted sentiment Reeds from other parts of the

being affected by the threatened werkt.

adverse Electric rail strike and other factors, Nevertheless, there were Telephone. 203 stayed stillew sellers about and a selec- guins to tive demand brought most sections.

I

LACK OF DESIRE

A sheer lack of desire to da anything at all showed up in:

volume figures-2,220,000 the against 3,370,000 on Friday--and the SITHEL

uf issues} number Now to proten her local soap.

traded 1,193. Gov- industry, the Singapore

Of these, 438 advanced, 852 # has imposed duty un all washing soup imports in-declined and

year were cluding those from the Feders New laws for the

44 white Believed by stocks reached new highs.

ניון:!!}ויו

licns.

But imports of toilet soap,

rusive

syntheti

sig

་

attergents will not be subjected in the new tax.

The new duties are; for hard in bars or tablets-9 cents And; soap prwrler. 18 centa

s

a putind; snaja likes 36 cents a

gral: Haud scap---$1.95

3

Averages The Dow-Jones showed Industrils down 2.33 in 577.81. Fails up 0.48 to 125.5 and Utilities also up 0.43 10

91.72.

issues Lockheed

Twelve of the 15 most nelive lower. Twe: and Ampex added fractions, and one. Aluminium

held unchanged. Curiously, the biggest change among any of the 15 most active issues was only i point.

It

g all other kinds of wash- RUN-30 cents a pound,

The Minister of Fixaxe, Dr Ahai tel Reng-Swet, Cul

o! production Singapore's washing soap was around 215,- ewt last year, while her 000 consumption was about 135,000 ving a bataire available. eel having

LOCAL SUPPLY ite said: "Our toent supply is therefore more than sufficient to nleet our needs. This local (Owing to faulty radio re- Production is not liable to duty and its prices should therefore senwin ulxhanged."

He added: "Only

of imported washing youuup

purchases y

be affcuted by these luxes, and they have an easy remedy in

savitching over to the locni pro-

darci,"

Singapore map manufacturerS- described the Goytunent's

volume

WOR

|

was

Gilt-edged, securities, which opened steady to rm, eased to- wards the clase. Conversion live per cent were

.. 20.30 241

By

38

Tel Rights! 2015 Cement,

.

**

44.09

100

این

23.40 23,40

The new

import regulations effective for six months com-

mencing today lay down cuts. and in some enses the fotal' ban on a list of 107 tiems. The ¡ list Inclures whisky, motü! goods, electrlent equipinert and drugs,

Imports of whisky, gin, beer and wine will be halved and are expected to save one mil- lion rupees by March 1961.

25 ITEMS

The import of 20 items has fining Compony anbeen banged entirely and in- wrought nounced today it has reclude certain types duced the price of its cop-copper brass and bronze, hops. oil. essential synthetic per from 33 cents to 31 palm

and printed piece goods and fabrics, velvet And The reduction is effective certain chemicals. immediately.

cents D pound delivered. oils, cotton

20,000-ton liner

is launched,

1,000 passengers

The twin-screw passenger liner Principe Perfeito, built for the Cia. Nacional de Navegacao of Lisbon, was launched recently from the Tyne- side yard of Swan, Hunter and Wigham Richardson.·

The vessel, which has a gross | tonnage of 20,000 and a design-

Closed-exhaust

no cuts ined gurface speed of 20 knots, There, would be Stendity declining quotation

was built under special survey. 1000 232 on the London metal exchange licences already granted for the of Industrial raw 2000 2.16 had led American observers to import

! materials. 1000 2312 look

for a drop in the price 182 1 20.3 000210 that had been

for in effect 1500 er påta some months.

100 843 1800 350

of Lloyds Register of Shipping control system

300 & 3545

iron

Hiner, Windsor Castle,

on

for their class - 100 AI, and to The list of Items for which Ministry of Transport survey Import quotas have been re-and Portuguese regulations. 11 A spokesman for American duced Includes raw film, pipes

modern lines The 38,000 ton Union Casile. B00 351 Smelting said "an ample supply

and Bexible tubes,

and is designed on of copper seems to be in pro- steel, wire ropes, crpper manu- with a well raked and curved

which recently smiled spect to satisfy demand even in factures, brass manufactures, wil-novid stem and a cruiser the

her maiden voyage on the face of current labour water motors, certain chemical

South difeuilles in Calle. We believe items, cortali motor

African mail ser- vice, has on board automatic pneumatic con- trol system designed by Associated Electrical In- dustries Ltd.

200051 100551

BOU IN BOS

feature in this Dairy Farm 29.72 29.80 setion, moving up a hill post Watson

5.00 2000 5.70 10 91% following the raising of Allied Invest. Texiste.....

0.30 B.35 500 price the Government's "ip" for this stock. Greek bonds - proved and dollar stocks res- Hanyang ponded to Wall Street's rally on Friday. Banking, insurance and A. Rubber moved Rubber T, hire purchase issues with narrow limits.

Tolkoo Duck

A firm tone prevailed. In the Industrial market and numerous Humphrey

gains were recorded, Most of Really

the leaders moved up and there

1000 8.35 14 14.10 4000 m 14 2004

2000 14.10

2030 N 41%

0000 7.90

that the domestic price should

vehicle

certain drugs and

paris and

a stern,

streamlined sigital nost and a streamlined funnel

There

are

be adjusted to a level which medleines.-China Mail, Special. [of distinctive design. does not penalise the domestic fabricator of copper who is forced to compete with importe of copper products fabricated abroad,

OTHER SMELTERS International

0.10

2

7.33

2000 to 7.90

83 03

1400 61

Metals large

1500 M 631 24.40 24.00 020 de 24.00

185 1.975 20000 20 1,325

14.80 14.00

Int?

Lane, Craw, Invest

.K. & F.E Invest. man

8.30

.13.00

14

Today's volume was 2,220,000 İŞSUCT shares of a total 1,103

was also a good business in new K Ga traded, 438 were higher and 552

issuck. Steel, brewery, store Exchange and textile shares were among Tower. American

1,040,008 shares the good groups. Oll shares higher in responge to bonis volume amounted to $4.-

Wall Street and tea issues 580,000.-UPI.

remained New York red. Rubblers Sux

dull. eption, the stock minket quotations were nol received for publication to- day).

RUBBER MARKET

New York, Oct. 3.

"most timely," as the Rex rubber futures today

sou industry here was 1aelog

a lis

#t

crisis

cuels

Dealers

closed 35 to 60 points lower on sales of 26 con- result of cum- as a

tracts. Træn imported pro-

Futures declined here along "But the new, lux hing dealt a with the London market, with scule- on the "heavy blown to the Federn- Lui nover smal

and manufac tlon's biggest exporters of pop down.

Lover Brothers (Malaya) Lin, turers continue marking time with Fur Eust offerings ru- The hand of the firm, Mr

No busi that maining very scarce. R. D. Chandler, said

reported WAS

done in prices of its products in Singa-sa

current pore would have to be raised Shipment rubber. The

month for No. 1.RSS was as this duty was "fantastic." "Singapore hd streaky that quoted at 354, year reduce nur exports to 93 tons a month-this was already a blow,

"And, now, there is this new levy

importa on soap

into

Were

Gold shares were firm under Johannesburg Bituences, but business was small and· prices were occasionally off the top at the close, Coppers went ahend on dividend hopes, and some Kood

scared... gains were Reuter..

Closing prices

UK Government Securities

21 Cunki £ 45~2/16, *

4. Curak-£07?),

32. Converaton, 1901-£50‡%.

Funding. 1950/00-EN

መ. Yünding.

-11/16.

2001.

Funding. · 1000/00-£07-3/18, 39. Savings 1955/05 £68.

1 Savings 1900/79 – £75+5/10,

%%, Saving 1985/75-£75.

Banks, InsuTANZER

Barclays "A" Ord-418 34.

Chartered-87% 0.

Hongkong-2016 Lyds "A" kl. Westminer "A"-42K. Union Insurance .

Aircraft and Motors British Mutor 44

Ford Motor-43% (k). Hawker Siddeley d. Ro Royce449,

Standard-Triumple 3d.

Buliding & Materiais

In Singapore, the market ruled steady throughoul the morning with sellers very. Hone" "A"-9% 415m

Prices Advanced two reserved. centa 1 Thin trading with operators searching for factur Singapore, which works out which could account for rise.

in slight cent," said Mr

Lower sheets were demand on switch basis but business was selective,

about 46 per Chundler.

TAX NOTE: The Federation duty on soap imports is 20 per ceni.

Conditions were steady unt!! Just after celal vivre.-UPI.

INVESTMENT OPPORTUNITIES

IN CANADA

A growing number of investors are purchasing mutual funde in order to profit from professional management of their investments at a very low cost. One of North America's most successful mutual funds is

ALL-CANADIAN FUNDS

This investment company concentrates its purchasing in the 20 to 25 most attractive Canadian and American securities in order to achieve maximum capital growth. Currently holding substanikul positions in the aluminum, steel, automotive, utility, and pipeline industries, All-Canadian Funds has rewarded in vestors with a 30% increase in value together with rising Income over the last five years. Shores can be sold at any time at their net asset value or purchased of the value plus a modest commission.

Full information on All-Canadian Funds---portfolio, investment record, and various porchince plans-is available ju you through our tesearch Department. If you would like to learn how to shuro In the growth of Canada through All-Canadian Funds, write or cable us for details,

Pemberton Securities

LIMITED

BUSINIST KITASLITHED 180Y

Member Investment Deslers' Amoelklim of Carmada

D.C. Band entera Arabelation, Vancouver Block Eethunga

Pemberton Building, 744 West Hartingo Sties!

Vancouver 1, B.C., Canada Cable: Pambartons Vancouver

1

Asc. Purtland Cement-009 d. Chodors, Wall & Lead39s Cad. Steel & Engineering Babeck Wieux-35 United Steel-alnik. -Vicker --32s.

4.

Paper Bownter Paper Ond-378 do.

Tobacco, Enod & Brewerica British-American Tobarcu-01k. Imperia Tobacco-16

afiscellaneous Porn Maidens 20. Bawanaker-2 34.

British Oxygen-is 14. Fording Purific

De La Rie Ori-71s Dd.

Dunlop Rubber-20 4d Giman ulding)-2s 140.

3rin Chonlen!--70 Unilever-149% 30.

kit.

Radio & Electrical Ricetrical & Murical-47 3. English Electric-35s 3d.

Genural Zitctric-3 $0.

Shipping

Indo-China Navigation-218 d. PO. Bleam Naviation-37 10d.

Storez

Artenhring47 46.

Great Universal Ads 3d.

Spencer jed Woolworth, PW-10 7d.

Textiles

('entr, J. P-5, Courtaulds-59

011

Pernen-3 414 Belties Burma, British Petroleum d

Royal Dutch-e

Shot Transport=137 31 x.

3d,

Myers-141 Petaling Tin 15. Union Corporation-024

d.

Reuter

Dividend

..

!

Star Perry Mecau

Bee 13,00 Lane, Craw, 3931⁄2 4012 Entertainment 27 Vibro..... 10.30

Minerals and another -Corporation, U.9. custom smelter.

American,

followed; promptly 17000 1.05

20000 1.83 Setting with an identical two

570 G 14.70 cents cut to 6000 14.00

500 £14.50 for its copper,

1004014

1000 8.35

HK UNIT FUND

Buyer Price: $0.07. Price: $1.02.

31 cents a pound

sald

Other custom smeliers they planned no format ari- mouneciment of a cut, but one

spokesman

sald "It's

obvious

cents a pound now," he added

it would simply be taken for granted that the 31 cents level now

for generally prevalls custom smelter copper.

Chicago grain market

Chicago, Oct. 3.

eight decks and two swimming pools; 800 fourist class passengers and 200 first- class passagers will be curried by the Bner which will have a complement of about 320.

One of biggest

oil tankers

fut

The system is used to main- tain pressure in the auxiliary exhaust steam range at a con- thus appreciably stant value, helping fuel economy.

Exhaust from the turbine- driven feed pumpa discharges into the auxiliary range and is led to a large de-aerator feed beater

for which,

optimum ufficiency,

supplied must be with steam at constăm pressure. The

Is maintained *pressure within tumlis of + 1 lb. per we won't sell any copper ut 33 A brisk demand for soy-

beans late in the session The Scottish shipyard of. In. cther by dumping steam the main condensers or by imparted steadiness to

John Brown & Co. introducing LP. turbine pass. that commodity on the

If the latter is in- Board of Trade today. (Clydebank) Ltd., recent-pui steam.

dequate to maintain the desired Wheat and rye held ly launched one of the

exhaust pressure it is supple- within fractions of Fri-

biggest oil tankers on mented with H.P. desuper- day's closes but the feed

order in Britain for the bented live steem.

The exhaust control systems grains showed a tendency

Federal "Steam Naviga- operates on air signals in the to docline.

tion Company, Ltd.

range 3 to 25 lb. per sq. in. Pressure in the auxiliary ex- Light offerings and fair corn- mission house buying, plus de- The paming ceremony was haust range is taken from a a pressure mand from local traders, were | enrried oul by Mrs F. E. sensing point to factors in steadying soybeans, Harmer, wife of the Chairman transmitter which converts it Wheat lacked incentives

10 of the Federal Steam Navigations to a pacumatic signal, move the grain more

than Co. Ltd., and of the New Zea. signal is fed to a controller in fractionally in either direction and Shipping Co. Ltd. and huge supplies of feed grains tended to hold corn and cats in check.

The big American producers are still quoting the matal at 33 cents à pound, a price that Seller luis been in, effect since Novem-

ber of 1859-AP.

Need for government

action in British shipbuilding industry

London, Oct. 3.

At the close wheat was to 4% higher, December 1.95% dol lar, corn to lower, Decem ber 1.00-00 dollars; oats % to 4 lower, December 87; rye un- changed to higher, December 1.21 dollars and soybeans to higher, November 2.12

dollura-AP.

The need for Government action in the British shipbuilding industry was stressed by two different industry officials within the past - week.

Lord Aberconway. chairman and managing director of John Brown and Company (Clyde- bank,) hoped that the long awalted Government, announce- ment of its policy as regards the Cunard project would not now | be ang delayed.

that

There was no doubt Clydebank needed work. He pointed to the current limited schedule with only eight vessels on order and six berths to keep cccupied.

He hoped Clydebank would get the new Cunarder. "If we do I want to make it clear that we shall have plenty of capacity in the shipyard, drawing office and engine works,

That is a measure of the extent to which at present we are unemployed.

At Middlesbrough, Mr A, A. McNaughton, assistant manag- ing director of Furness Ship- building Company, claimed that new orders. for Brush yards could

the be stimulated if

backing Government provided to help firms to offer credit terms at low interest.

Mr McNaughton, who Wis addressing D meeting of the Tees-side and South West Dur hsm Chamber of Commerce. sald this was urgently needed to bring new work to Britia yardi.

"The Government was being The Dircutors of the Unton urged to take this action by the Insurance Souley of Canton Shipbuilding Conference, A Limad have declared an in- ship, he said, was a good in- terin dividend of two shillings vestment Because it was A per share on account of the moveble challel unlike an of year 1000, payable on Novem-rennery In the Middle East, for but 21, it was announced here instance, which might be sub- today.

insted to political influences China Mail Special,

Exchange rates

Takness - was done in the Sesl unartial

market morning at the following rates:

.. dollar (per (1)_pickin Starling notes “(par 125

Austr#Ball 10tés (pór

frradtralia ruptia (per 100)

1 tle (per 100) .. Kingigare (alestij

Soybeans

New York, Dot, 8, France purchase 160,000 10.50 bushels of US. poybeans for

18 November-Dicemberprest

Hexmoriend reportma Moriday,——|

2016

Friendly 'enemy'

An Air Force pilot and his crew chief examine a D elcetronio magnifying devien ihst will enable the plot to sboot down a targni rookes no bigger in also. than a man, Developed by Lockleed Electronics Company, of Plainfield, New Jersey, and technióklly onlied a radar augmenter, the devion is bladed inside the kookol. It magnifies the rockel's also many tanjen, nikking it'. appear na largo, so an "enebly" plane on "the 'Intaraptor's radar scope. Thus, the augmenter permite the pilot to “ane?”, the subsiî rookei on his redne võópa, while he and the rocket are diving, taster than the spera de Medad severia, Milink fruta dha, Andikar,

This

which it compared with the desired pressure," Any deviation causes the controller to produce an output signal proportional to the difference and this operates the valve positioners of either the reject or the supplementary control valves

The vessel is the single-screw Kent, a 700 ft, all tanker with a gross tonnage of almost 32,000 lons and a deadweight capacity DI 48,500 tons, With a white superstructure and grey and

It is impossible for the coll- green hull, Kent was launched' deuser dump valves to be open In an advanced stage of pre-; at the same time at either of the 113 paredness with the distinctive supplementary vulvos, su F.S.N.

In live steam cannot be rejected to position.

the condenser. Additionally, Interruption of the controller alr supply causes the control valve to "fail safe", so that the con denser dump valve closes, the low pressure turbine pass-out valve opens and the high pres sure desuperheated steam valve closes,

funnel already

SECOND

She is the second of two simi- lar vessels built at Cydebank, the Brst, Derby, being managed al present by Federal Steam, and she hus deadweight only Systems of this type have slightly less than British Queca, been supplied for use in several the largest British tanker adout of Brituln's most modern naval and also from Clydebank,

ศ

Kent is fitted with geared turbine double reduction machinery, developing 18,000 s.hp. on her single screw for a service speed of 10% knois.

Electric power far

the

eral use will be supplied" by two 050 kw turbo alternators, and a 150 kw diesel alternator is provided for emergency use and when the boilers are shut down. The four cargo pumps and all the deck machinery will be sicam driven.

vessels.

Cargo vessel completed

auxiliary machinery and gen-The Barpeta, a single serew

motor-driven cargo ves- sel for the British India Com- Steam Navigation pany, has been completed at the Govan yard of Harland and Wolff, Ltd. · The Barpota is the third of a The Kent is being built under group of five similar vessels to special survey in Lloyd's high be built by Harlarid and Wolft at the Govan yard, The first .est classification for vessals

Two Vessels, Bulliba and earrying petrolum in bulk, end is constructed on the combined, Bankura, are now in survice, ing fourth vessel, Bamoru, Wab and longitudinal

dunched earlier in September, system of framing.

ond the last vezad) of the group ir at

2011- an early stage of cargo space is divided struction.

transverse

The into 80 Lanka, Three wing The few Vesel hus a lengia tanks port and star-board amid between perpendiculars of 395 ships are arranged as water ft, a breadth moulded of 69 ft. ballast tanks. The remaining 12 and a depth moulded to upper centre and 18 wing tanks have

total capacity of approximately deek of 82 ft. 0 in. The dead- weight is approximately 7,600 2,108,000 Ruble feet.

atad

42,000 cuble foét,

Provision le also made for a dry cargo hold tone and the service speed is 10

konnte. 'Tween deck forward, raving a tolal capacity of about and combined bridge and poop, Tho vessel, hay a forecastio

raked stem and cruiser stern,

The

propelling machinery On another berth John Brown conalala of one two-stroke cycle, and Company bre Building, the single-auling, opposed piston, 33,000 ... Transvaal Castle, eccentric, crosshead typo diesel another oil tanker of about the engine of the R & B & W same dimenkobs an Kant and a latest dowish, paving six guided mit ship for the cylinders 620 mm, bore with a

|'combined stroke 1870 man,

Royal Navy.