THE CHINA MAIL, THURSDAY, OCTOBER 6, 1960.
Wall Street gains in LONDON INDUSTRIAL
final session rally
New York, Oct. 5.
Stocks made an abrupt turnabout in the final half-hour today as an avalanche of pent-up buying pared earlier lossos and carried most industrial groups into higher ground.
sudden burrt
of
(41-
Bonds volume amounted 'The thusiasm come in the wake of $1,700,000..
boost by Amerada Petroleum.
stucks moved to swiftly and the buying, spread into stocks steels elvetronies and numerous 40 bands blue chips,
The wave of support was n aptsrent vindication, helt n for those temporary
market aradysts calming the
Closing prices
Hank of Montreal Bank of Nova Scutla
50% Cal. Tractor
Celanese Corp.
C. I. Financial Corp.
Chato Manhat. Bank
1114 Chrysler Motors
Cinet Paibody" mayo Colsate-Peiniolive Co. Colombian Carbon Co.
Corning Credit
Glass Works
Consolidated Edison Consolidated Paper Comaltiners Ga
Continental Can
437 Continental Oil of Del.
Crado Co
to
American Souldng
Am. Sugar Bef....
a favourable, car, sules
by Chrysler and
report Daw-Jones closing averages: dividend (34 actrials
American Tel & Tel
90
American Tób.
00%
578.80
Ampex
120 Tulls
178.04
Anaconda Copper.....
44
16 tillilos
02.11
Arp Steal
583
108.22
Armour
30
Asbestos Corp
23
84.95
Comum. future price
Index
Atlas Cons. Mining Baldwin-Lima-lim
12
Hitime & Quie
2034
143,54
53325
00%
Beach Life Savers
9. C. Tal, Ca....
Bell Telephone
35enefielai
Finance
4333 45
Benfix Aviation Corp.
DE
30%
Hethlehem Steel
at
24% flocing Airplane
30
36
104 Durroughs Add Machine
8
British "Amer. Oli «**
41
Dr Columble Pwr
44 Farro Corp
A
First Nat. Cly Bank
04
109
+
21
G4TH
13
one,
was liz a "highly aversold" con dilen and willing to respond tu un favourable business
news.
Today's volume was 2,650,000 shares of a total 1,191 shares higher and traded,
541 were
407 lover.
Abuhi Pwr, & Paper
Alden Inc. Acy, Allied Chemiente
Allied Mill be.
Allis Chalmers
Ain. Brake Shoe American Airline
| American Cuble & Radio Corp
American Cyanunid Co.
Am. & Electric
Ar. Home Prod.
American exchange volume A. Mach. & F dry.
was 1,150,000 shares,
American Metal
A Natural Car
erguet Cons
Borden (The) Co.
Calf Packing Corp.
Cana. Dk. of Comm. Cominbell Soup Co.. Canadian Pacific R. Caso (3. 1.) Co.
A challenging future
for civil engineering, Mr Cubitt says
(la bis virves of internationally-known firms, Alexander Thompsos interviews Mr. Henry Cabin, director of Holland and Hannen und Cubits whose buildings span the world).
By Alexander Thompson
Crown Zellerbach
2015 Cuban Amer. Suger
Delaware & Hudson Co. 16 Distillers-SeagramE
Dagur Aircraft
Dow Chemical
19% Dupont de Nemours
3475 Zaxtanan Kouse.....
**
Family Finance Corp.
For Madne
0032 Georgia
Gural Dynamics
BitGaneral Electri General Foods Genert Motors
A handsome three-year-old Golden Labrador dozed contentedly in a corner of a Queen Annes Gate office. She was relaxing before a strenuous day out with guns-and with Mr Henry Edward Cubitt. This is the Mr Cubitt whose great-great-great-grandfather bullt London's Bel- gravia as a speculation and later put up a good deal of Bloomsbury as well.
His 30 and a director of and New Zealand House at the Holland and Hannel and foot of Haymarket. Cubitts, the builders and civil Lord
Ashcombe, engineers. chairman, is his father.
Cubiti: I asked young Mr
future "How do you see the for civil engineering?"
replied: Refreshingly he "Very challenging. Overseas There are big chantes if we go Dat and look for them.
"But we must not ait com- and wait fortably in London
out around
ment.
Outr and
Abroad where the firm does about half its work the con- trects include building a new Hiton Holel in Trinidad and a
hondquarters 2 million Montreal for 1.C.1.S. Canarian
The world of clyll engineer- Competition is ing is tough. often fleree in jungle warfare"
sense.
HONGKONG
STOCK EXCHANGE
by
frur Own Coesipunduni
Stock
Gerk Pub., UL.
Can Tyre & Rubber
Glidden Co
STOCKS RISE ON
EUROPEAN DEMAND
London, Oct. 5.
Industrial stocks forged ahead today under the "Impetus af institutional and European de-
mand.
New York
cotton market
α
New York, Oct. 5. Cotton Futures · scored
modest advance in *90* tinued dull dealings en the exchange todgy," At the
close the 1st ruled four points lower to 11 points tils 646 | highar
opening after
253 morning a point lower to 80 Orleans futures New 40% higher. 30% Anished two points lower to 11
[higher.
Evening up operations con- tinued in a small way on the spot October position, with most of the interost coming 18 from New Orleans brokers
Goodrich (B.T.) Co.
Goodyear Tyre
3.5
Grimina Aircraft
JIK.
GINE OR
Hammond Organ
331
Hiram Walker...
33
Homerlake Mining Co.
40
unmen Retrie
dalis Power
Imperial
ค
Tobacco
1
Inpe-Rand
Inland Steel, 00.
Interchemical Corp.
Int'l Harveober
International Nickel
International Paper
Int'l Tel & Tel
Jenna-Manville Co.
Kaiser Industries
Kantes C. Power & Light Kennecol Copper
Kimberly Clark
Liggott & Myers Tob. Co. Lily Tulip
Litton Ind.
Lockheed Aircraft Loews corp...... Lone Star Cement Co. Lowenstein & SOMA. McDermott J. Hay McDonnel Aircraft Merck
Kenabl Iron Corp.
Minnesota Mining Mission Development
Monania Chemical Co.
Montecatini
Montgomery Ward
Motorola Inc.
Notional Bocull do,
National Cosh Beg. “A” National Dairy
Prod.
National Lead National Steel Corp. New York Central Noranda Mines Ltd. Norfolk & Western Ry. North Amer. Aviation Northwest Airlines (Core) Oklabama Not. Gas, Du Elevators
Owen Illinois Gin Oxford Paper Co.
Pacific Gas & Eco. Pan Americas Altwaye
Paramount Pictures
40
4016
BJ
who were also modest buspes
of the distant months alre with commission houses.
NEW RECORD
World cotton production is
B exported to set a new record 26% of 82 million bales this year, according to the International Cotton Advisory Committee.
Vice President Nixon refuged to promise to back quolas p
Imports but said cotton goods he would work on the problem controls of getting voluntary similar to those now in effect
14% with Japan
Exports for the day totalled 1,800 bales. Gray goods
2014 quietly under
offerings. UPI.
Penny J. C. Co.
Philip Morris
7032
Pitney Bowes
Procter & Gamble Co.,
Pittsburgh Plate Glam
6715
Publicker Bihastries
Pullman
3112
Pure O
3316
5
711
the Radin Corp. Pref.
For instance there was the time when Italians walked away with the job of building huge for work to come niong lo us
Kariba Dam in Rhodesia, "That was all right in the
MASTERLY old days. Now we have to get
Cubitts were runners-up.
Business done at the Horig- Radio Corporation of
chairs on go
Cubitt sportingly
Exchange nl the Young Mr study,
Raytheon morning amounted
to appro Republic Steel possible areas of new develop concedes: "Italians put up a kong
masterly performance there,"
$2,854,000. Noon Reynolds Medal "At one time it looked as itximately
the morning's Reynolds Tobacco and get in there "But we must
Royal, Dutch early to learn all about local they might lose a lot of money quotations
But they ratsuctions: heenuse of flooding, conditions long before tracts are placed or even dis seemed to come off all right"
The Arm of Holland and cussed".
Hansen and Cubilts was found- ed 145 years ago. It is now a £3,600,000 concern at balance Lombard Ina 382
1 sheet
Vaiva all its values, Yet
whart Co.. tustel ordinary shares are still
Waterbout by three families.
Wheelock Today there many businesses
con-
FOOTHOLDS." The Cublits arm already has "West Canada, footholds Indies, New Zealand and the Middle East,
actively plarming It is now other expansion overseus pre- bably in partnership with local interest. The young Me Publi jold me:
|
In that
effect
seen to that.
are not
In Britain
60
Shares uk Lonk..
Sopts, Roebuck & Co.
Safeway Stores
Saint Res. Paper
Buyers Sellers HBS 1193
Malus 6190 15110
Shell OU Co.
Scott Piper
Bk E. Asta 204
position. Crippling it Dock '....
of death duties har
Schenley Luc....
Siegler Corp.
Sinclair Of
Sinth. Kline & French
Bocony Mobil oй....
South Puro
Sauthem
Natural Gas
36
eased
second
hand
Rubber
market
review
Singapore, Oct. 5, The morning session ruled quiet with business limited to switching operations. At lower lovefs"some"[n=" terest
developed
kut
sellors withdrew and pricet hardened in thin truding.
Lower sheet enquiry restrict- ed to some small covering opera÷ tions apart from switches.
The afternoon was quiet with minor fluctuations.
In New
York, Rex rubber futures today closed 35 to 50
31 points higher on anies of 41 con-
tragis.
LITTLE INTEREST
Some speculative buying in a thin market 'on feclirigs
140 manufacturers
DE
230
42
. 25.90
1.00
MOO # 24 1.00 500.00
2000 14 7.85 2000 7.84
Souilhem
hel
lco Sugar
303
Southern Packle Co.
IAT
100 107
200 107 303 107 200 or 107
Southern Railway (Com.)
Standard Brandei
4344
Standard Of of Cal
100 107 1000 # 21.40 300 240
4012
குடிக்
IT &
Hairl HK LAND
1471
+1
Col
4192
01
4014
1260
61
1015
100
019
1000F G
"There is a lot to be said for
So asked Harry Cubitt ch. Prov. 21.40 24
1 marrying
"know-how! local
when we would see his fem's coming onto with International experience ordinary shares
that over the the Stock Exchange 50 that added
could buy investors years the Cubitt firm has built outside
ILA
them. a great deal of London.
He plunged straight into an- most illustrious customer wis
other problem-sport from death Yaunal Ferry Queen Victoria. It put up the east winx of Buckingham Falace for her. She sold the duties. One you do not very Reyal Pavilion at Brighton is often hear of in the ordinary help pay for it.
Current jobs at
A
an.
20001
300 ik G
و
Standard Oil of Ind Standard QU of NJ Steel Co. of Canada {Sterling Drug Co.
Stokely-Van Camp. Stone & Webster Studebaker-Packard Corp. Sunshine Mining Swift & Co,
Texas Co.
Textron Ino.
Thiakol Chem.
Time Inc.
Ex. All.04% 8554
100 85
Tide Waler U
1000 or 91
400 1 95
31
34
IK Tran.. way.
He said: When a company home take develops
International | Ch. Light.. pass" rond business I don't see how it can
corner, continue Indefinitely
family firm.
in
big "under schema at Hyde Park
NOTICE
UNION INSURANCE SOCIETY OF CANTON, LTD.
ад
Notice to Shareholders NOTICE IS HEREBY Interim GIVEN that Dividend of 2a. Od. per share has been declared on account of the year 1960..
This Dividend is payable on
or after 21st November 1960
to Shareholders registered in
23.20 23.40
ர
IK Electric 28.20 28.40
351 IK Telo..
30
"Resources it needs if it is to gim high enough in future are usually too big for it to remain on a private basis.
"Six or seven years ago we
would have tried to hold on to
BK Tele.. Biglie
10.80
600 @ 3194
TH-CUSTE. Warrente Twentieth Century Fox Film 300 31% Tinion Carbide 600 23.40 thelon (4) of Cal 508 23.30 Union Facile Ratlway 10000 of 23.30 | 170/74. Afreenfi 12000 or 23.30 United Fruit ... 1000 20,30 Tinted Cise Comp
390 28.30 U.S. Fall "3" 5000 • 24%, US, dynaum 70034 B. Line Ca 000 à 354U.B. Rubber 100331.8. Smelting 500 OF 38440.8. Steel
the private company aspect. I al even 150 2000 50
don't see we can do it now."
Intrigued, I
asked: "Does
this mean that an early offer of Dairy Farm your ordinary shares is likely
Young Mr Cublit togrod thoughtfully with a gold pencil. Niled
1200 kr Ga
29.00
30 304%
300 30
1 30
020 35 0048.3
Inv. 5.70 Textile *** "All I can say," he mid *1* | kanyang le
that it is a possibility mardin Amal, Rub, 9.00 "014 2000 # 0.10 our minds than ever before,"
and Hammel and Cubitte hand-
quarters in Queen Annes Gale Talk Dock £3 was once the home of Lord
the Society's books on 3rd Groy of Fallodon November, 1960.
As Sir Edward Grgy, he was foreign Secretary in 1924.
The SHARE TRANSFER is ook he
It signed the main
U.S. Steel 7 V.C. PT Warner Bros. Westinghouse Air Braku Westinghouse Electric West Va. Pulp & Paper Winn-Die Atores Woolworth K, W}} Zenith Radio
.
41
that
may, soon have
to come into the market more aggressively sent futures ahead. Actual business conditions, however, continued dull. Manu-
to follow to facturers falled day's market and although For East offerings were less scarea, dealers fell prices were too high for the local market and show- ed little hnterest. The current month for No. 1 Hss was quoted at 354.
In
The movement immored Wal- atrent'a pvernight downlin
and
and dealers said improved gold
for September POSOVES Toad company nows helped Geritimoni
'The leaders solched the limelight but most sections showed gale. Textiles, peels and engineerings met strony de- manda
Government hands laxed quicki but eased alightly: Foreign bonds were mostly idle while dollar stocks EN cede
South African sold thares
hold firm. Diamonds Wêre" wis affected by the sight decline m quarterly sales but tins turned dull and coppers Jost ground" Rubbers and teus werp quick- UPI.
21
Closing prices
UK Government Sceneilles
Consuls 43. 1, Consally£67-7/10.
Convers101. - 199]——-£59-2′10, 3*, Funding, 1080/65-£80). 312%, Funding, 1900/2004–2013, 4. Funding, 1900/00-£87-3/16/ 3. Saving 1955/05-£®+M/{U,
Bavings
Banke, InguaNEER Barclays "A" Ord#21. Quartered-878 31. Hongkang. Lloyd" "A-688. Westminster "A"-42%. Union Instance--£0-5/13.
Aircraft and Motors British Motor-104 Ford Motor066 7444. Hawker Siddeley-ls 1d.
HOL ROYS FR
Rooles
Standord-Triumph-ás 10154.
Building & Materials Assoc. Portland Cement-Tea Och Goodings, Wall & Load-30s 194.
Steel & Engineering Baycock_ @Wilcox=35% Tipd. United Steel-10: 00. Vloken-36.
Paper
Bowater Paper Ort-38s.
Tabacco, Food & Breweries British-American
Imperial Tybaen Tobacco-cit.
ad. Mikrofanét Boardman Marden—46" 1968, Bowmakere–20; 10%yd, British Oxyg
Canadian
De La B* Ord-12 3d. Dianida Hubber-28 1020. Günme 1400 ding)—my. 3969, Ho Chins Gaida.
Chemloat-72 $15.
Unilover-17@_9d.
Radio & Electrical Asacolated Electrical-458 40. Electrical & Mugical-4?¢ 34.
English General
Shipping Indo-China Naviation-Zie pd P. & O. Steam Navigation Jā
stores
Debenham 104 -50% 30.
Grest Universa
Maria & Spencer--90s. Woolworth, F.W-008.
Textiles
Costa, J. & Pumpɛr 34 cor, Courtaulds-500 .
од
Brita Borneo,dis 20 Belah Burmah-1 94. Endisi Petroleum-ddy od, Huma-40 30,
Royal
Dutch-11-15/18.
Shell Transport—1299 cd.
Mines
De Beers le 30.
Petaling Tin-4-130. Unloa Corporation $25 4110.
Reuler,
SPORTATION
'Wonder' machine
for production
of brake shoes
British engineers have designed and built
a
machine for the cold-rolling of brake shoe blanks for heavy transport which, it is claim- ed, is in advance of any machine of its type anywhere in the world,
Working under a pressure of tons, the rollers of the machine take a cold strip of heavy w section steel and curve it in one
10 movement
predetermined
accurate size and shape
Yesterday's Closing
dimension,
In without rippling of metal, distortion in
every
curve or distortion in horizontal
Ships to have new
type telegraphs
or vertical fiptncas-thus solving A British Railways vossol
a problem
ongineers.
baffled which has
This it doos el a production rate of 1,000 brake shoes an be stepped hour, which could
ss Canserpa, which under-
want trials at the end of September, is to go into Barvico
on the Islands run
year.
Chennol later in the
She will be the largest ever
up still further if automatic fcolling apparatus were linked to the machine a refinement which is already on the draw-used on this route and the big- gest which can be handled at ing boords of the designers.
Thu ihe port of St. Heller, Caesarea, and a later sister ship the S.8. Samla-bath being bullt by J. Samuel White and Co. at the Isle of Wight--will have a modern appearance with raked stem and rounded stern, tripod masts and singlo Amnel. In keeping with the ships' modern design will be the ships' telegraphs. Supplied by Maring ... Department of A. E Telo communications Division, they type whose frut these will be on
COMPACT DESIGN Another unique feature of this machine is the needle roller bearings on which the centre shatt runs, and widch operate hitherto re- under conditions garded as
the impossible, hydraulic pressure on the shaft subjecting the bearings to a load gt 50 tona.
The machine is of compact are a new design #ft 8'ins long by 3 ft. 2 Installation ins. wide by 6 high, fully British Railways' ships. automatic, completely salt- Chief feature of the now conmined with automatic pres- Grosvenor telegraph la its clean süre lubridatical from ail modern look." Electrically is the ships' tela- reservoir and requiring only to the same as be connected to an cxisting graphs made previously by, the power supply A battery of the company's marine. department. Indicating Bastles the usual roachines could be sited
has a parallel in a very small factory deals the Grasyonar
peripheral dial so that trans- mission and reply indication of Simpilcity of operation and orders given can be read off maintenance are also a tremen- the top of the instrument. The doua advanco
dials are more open on existing vertini machines. To cite only ang and the order inscriptions are
WWW | presented the changing aspect whereas
style. of formers for different sizes
Is improving the lines of the and shapes of brake shoes on telegraph, all external
bay..
existing
machines involves eight hours work, the
in a more modem
attach-
ments have been dispensed same with. In place of the reply bell operation can be carried out on mounted externally on previous machine in eight telegraphs, an internal buzzer
is now. Afted.
the new minutes.
COMMODITY PRICES
METALS
No. 1 s spot .......... 2016-20
LONDON
Mixed Contract
Closing prices all in ponce per Ib.
Oct.
Des.
Mar
May
Beldemont kotios term:
Oct./Dec.
2011-28
July
Jast/Mar.
2015-28}}|
NEW YORK Closing prices, all in per 1b.: London, the rubber Lead
Oct. wita market was very sleppy
Nov Zine spot up 3/18ths to 29. No. 1 Res spot 28% 29% with 28% pald. In Amsterdam, subber market was dull today-UPI.
Apr/June
231-201
July/Bapt.
27-273
conta
General markets, e.l.1. baxis, parts:
Oct.
28-10-20
Nov.
2214-2018
Detale erept
Unit Oct. ****
thick Act.
11.18
Nov.
11.15
Copper
got,
per kilogram, cit. Opt.
No. 1 rubber
2.79 buyers
No. 1 rubber
2.47 buyers
Det.
No. 3 rubber
2,38 buyers
-UPI.
Ka
July
3-bath Copper
LONDON
10/20
Buyer Sellers
10945
800
100
ib
30%
2015
AMSTERDAM
Closing prices all in guilders
SUGAR
NEW YORK
Closing prices all in conta per lb.t
Contract No. 4 (work)).
Sugar market
Chicago grain market
Chicago, Oct. 5. Most grains eleted lower in mixed dealings today on the Chicago Board of Trade,
Boyboar futures receded from
in early advance, in which do liveries added a cent or more. General buying followed a pri-
Closing prices, ali in sterling No. 1 orepe
per long ton:
**
Вре
Spot
3-month
Zine Ist half
Oct.
Less 181, half
get.
Rek rubber futures closing
yato crop report that lowered prices, all in cents per 1b3
COTTON
NEW YORK
Closing prices all in cents per
Spat (F.A.S. Cuba)
Total igjen: 28 contracle Open Interest;” 2,501 "contracts Contract. No. û (domestic)
NOV
Jan.
Mas,
apot-Cit. N.Y. ex-duty)
Total Sales: a contracts
Open Interest; Bis contracta—UPI.
FOREIGN ENCHANGE
· NEW YORK Closing roles: Canada) EM
prices all ar conta per ingland pridel
#
Aurirasta
New Zealarid Bouth AfriON
LONDON Cloring rates: New Yor Montres
RUBBER
1334 0,10
TULSTORICAL NOTE. Holland Trust bud 7m0
8M 1000
$3000 2200
2000
Nov,
10000
10000 1.45
80003 1.979
New York, Out, B.) World No. suger futures today olosed alichanged to a point
estimates on 1980 soybean prow duction.
Jatt.
14000 1.875
The market fell off as maveral caster houses sold January and Merch beans.
Julk
Hept
14.30 14.90 - 350
Closing
1n1/2 Invest.
0.30
#15
IK. & F.E.
man
BOOKS of the Society will be delcaration of war on Germany
there,
closed from 3rd November to
14th November. 1000 both.
daya Inclusive,telugu
By Order of the Board,
J. DICKSON LEACH,
General Manager. Hong Kong, 4th Oct., 1980,
Agreed merchant
rates
$maximum selling
*19/33.0/11.
32:28
commercial
Jower on sales of 28"contrast. Wheat alap dropped broke on
0000 1925
Domestic No. & futures finish-reattored selling, BOD 14.89 10000ed five points lower to un-nforest was light. Nearby ood
200 14.00 chanand on only twɑ/mping, t In the prop highe early cons: 0
Both markots were extremely in the day. Glam
loxporters, said Zernet bouzhe) 30
146 0.11.00 | dull with traders dentant to wait 780,000 brunivile, or ifbard Kutiont,
for developmente di the kharkoti (The United Arab Republių AWRA | NOC for raws, Dealings were further authorimea neta?? kuy/CE,900,000 39. limited by the distration DE FUNDOINFO wine. Poland Wen world series baseball according nudo De BE dan - mychen: for its to market ou
"Out.
NEW YORK
NEW ORLEANS
GAPORE
fices all 10. 146.
Straits
July
gener
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