1960-10-12 — Page 2

Page Z

NOTIC

THE HONGKONG & YAUMATI FERNY

CO., LTD..

Notice to Shareholders

NOTICE

IS HEREBY

Board of Directors have rosolved to make un offer to members who un the 15th day of October, 1960, are the regis- tered holders of the 504,000 Issued shares of the Company of 252,000 uninsued ordinary shares of the Company, of the nominal value of $10 each at value nominal par (such

GIVEN that the

being payable in full upon application on or before the 31st day of December, 1900) AD that each member of the his approved Company nominee shall be entitled to apply for and take up one unissued ordinary share for every two of the sald 504,000 issued shares then held by such member. The shares so offered shall, If accepted, rank for dividends as from the 1st day of January, 1961 that not no na to entitle them to participate in any dividend declared in respect of the year ending 31st December. 1960) and in all other respects Issued with the present ordinary shares of the Com- pany.

No fractional certificates | shall be issued, but the shares representing fractions shall be allotted to a trustee to be nominated by the Directors upon trust for sale on such conditions as they consider net and expedient

the proceeds of sale (less the for cach amount of 310

share payable on acceptance) shall be distributed propor- tionately

those amongst members who would other-i wise be entitled to such frae Lions

satisfaction nux in thereof.

The offer will be made by notice sent by post to each shareholder specifying thei number of shares to which each shareholder is entitled ;

offer, and such

if not accepted either on behalf of ouch member or bis nominee. on or before the 31st day of be 1960, will December. deemed to be declined and the Directors will dispose of the anid unissued ordinarý shares as they think fit.

NOTICE IS ALSO HEREBY GIVEN that an Extraordinary General Meeting of the Cam- pany will be held at the Com pany's Offices, Jordan Road

Kowloon, Ferry Pier, Saturday the 16th day of October, 1960, at 12.80 p. for the purpose of consider. ing, and if thought fit, pass. Ing the following Resolution as Ordinary Resolution:- "That it is. desirable to the

uf capitalise

being part $2,620,000.00 of the undivided profits

811m

of the Company standing!

THE CHINA MAIL, WEDNESDAY, OCTOBER 12, 1960.

Wall Street finishes

London about even HONGKONG

stocks

steady

London, Oct. 11. Gilt-edged securities shone hopes of on early

an

on bank rate cut in otherwise dull stock mar ket close today.

mixed Industrials made A showing, but small guins still peppered the list. Many leaders moved narrowly on either side of yesterday's levels,

South African gold shares faded after a firm start to finish dull. Coppers and tins backed down

Oils ended with a string of small iostes.

Greek Lines eased in the Dollar foreign bond market. stocks moved irregularly lower. -UPI.

Closing prices

British Government Securities 2. Consolidated-48a- 54 Conversion=5

Bavings 1965/35 —£88-17/32. Savings 1060/70-M

3%, Baving 1905/76-471-5 10.

Banka & Luurance

Barclays Ord-65 dd. Chartered Tank-5 d. fongkong Bank-£62. Lloyds Ennik-70 3d. Union Insurance~~ds Sid.

Oll

Hurmat Ol!~~417, Royal Dutch-£12.7/10.

Steels Engineer jud. Babcock & Wilcox United Bleek--830 Dd. Vickers Ord-31 44.

Industrials

Assoc. Elec, ladud

Ass. Portland Boorduan, Marden Ort-47 British-Amer. Tab. Ord--63 Briffah Motor Ord=-169 40. Conta (3. & P.) Orduti95 74. Stourtaulda Ori-57 73.

De La Bue Ord-681 . Dunlop R.bber Ord--20% 746. Elee,& Mus. Industries-40 4 Puni Motos On!- 3. General Electric On-374 30, Gilman (Holdings) Ord-2534. Great Universal Ord-53 Hawker Siddeley Ord-31 d. Imperini emiteal Ordes nd despertal Chemical Ord-704 66. Imperial Tobacco Ord- d. Marks & Spencer "A" Ord-934

Rolls-Royce--dân. Standard-Triumph-us. Unilever Ord-id. Woolworth Ord-TH 10,

Mine De Boers Def-1504 7. Penting Tin-7# 3d. Union Corporation- 31.

Nilscellaneona

Bowsmaker Ord-28 04. Canadian Pacle Ord-$31 Huncion & China Ga15s. Indo-Chinn Def. Ord-21% 9.

-Reuter

P. & G. Stent Nav. Del-37 78.

HK UNIT

Buyer Price: $0.98 Seller Price: $1,04

FUND

NOTICE

THE HONGKONG & YAUMATI FERRY CO., LTD, NOTICE is hereby given at the credit of the Com- that an interim dividend of pany's Reserve Fund and three dollars per share on accordingly that a specia!! the Company's issued capital Capital Bonus of $2,520,- has been declared in respect 000.00 be declared and of the year ending 31st that such bonus be ap- December, 1960.

plied on behalf of the per- Dividend warrants will be sons who on the 15th day available for collection at the of October, 1960, were the holders of the 504,000 registered office of the Com- issued shares of the Company, 141-148 Des Voeux Road, Central, 1st floor, Hung

pany in payment in full Kong, or will be dealt with for 262,000 unissued or in accordance with standing dinary shares credited as

and after instructions, on

fully paid be accordingly 15th October, 1960,

New York, Oct. 11.

Stocks suffered a slight ŝinking spell near the close today finishing just about

even on overage.

International Paper, up more !. than 4 at one time on news of a 3-for-1 stock split, managed to retain obout a point while Procter and Gamble, which suld it expects good sales and earning this quarter, added over 2.

The two legues contributed

heavily toward holding up the

Dow Jones Industriaj average. Most other industrial stocks moved narrowly on either side of yesterday's close,

Except for a 5-point gain in IBM and around 1⁄2 In Lition, weakened in the clotronics later cicalings,

Honolulu rose around 3% Ir the oils where Plymouth quisa- nd about 14 head with mest

not Loo ranging

for others afield.

were generally led.

Steels

were; 30 industrials 20 rails

15 utilities

165 stucks

W. GERMANY

EXPECTED

TO LOWER

BANK RATE

Frankfurt, Oct. 1i.

STOCK EXCHANGE

by

A war on wheels' has

been declared

in Australia

Melbourne, Oct. 11.

A "war on wheels" has been declared in Australla, with huge

capital investment and great profits at stake.

Our Den Correspondent

General Motors-Holdens, in a On the offensive, is the Ford: Business doho at the Hong-Motor Company of Australia, strong position, appears pre- Exchanga.... this with its Australion-built version pered to sit. Light for the time kong... Stock morning amounted to approxi-of the parent American com-, being end see what happens, mately $3,600,000. Noon quota-pany's Falcon compact sedan, this firm Introduced its Holden released for sale on September tions and the morning's trans- netions:

shares HK Lank

Union Whart

..

Waterboat Wheelcek..

A lowering of West Ger-

mony's discount rate is Duck, expected by many Frank-

furt financial circles.

Buyer Bollers 1200 1220

Bales.

25 1185

10 1200 301205 180104

109 105

830 104

234

BU VA 234

50236

*27 27.40

33 234

14.

On the defensive, for the moment; là Generul Motors 45 1200 Holdons Ltd., producers of the

phenomenally successful Aus traliani-designed and built Holden.

car Holden

was .. Thie responsible for 32.1 per cent of new car registration in Aus- tralla during the first seven monthis, of this year, with more thon double the total of its nearest rival, the British Motor Corporation, which also has big capital Investment In Australian factories..

33 234

1000 a 27.40

B.A 8.10 2200 2

3000 6 8.05 300068.10 107 1400 105

108

There will be a meeting of Provident 21.90 the Control Banking Commitive

Dow-Jones closing averages

588.75

of the Federal Bank con Octp- 120.71

ber 13. It is from this body that 93.40 bank rate changes originato and

experts fool that Germany Wi 34.25 follow

the French banit le -UPI;

drop of last week.

40 bonds

(The New York stock market quotations were not received poor radio today because of reception),

Rubber market

Singapore, Oct. 11.

The market oponed steadier

in sympathy with overseas but after some business de the highest level slipped

According to weli. informed sources, the recent efforts of the Feder, 1 Bank to restrict liquidity And the have been successful inland credit system is now under control, having not ex-

within pandexi

the last three months.

me

Hotel

Land

Ysuma!!

"

23

421

4221

01%

2%

200 46 105 40 100 DOO or 100 200107 700 * 21.70

2000 21.80 2025 +1 21.80 4500 21,00 40017421 500 421 1090

800 011 1000 ar 115 2900 @ 02

1200 v 0%

ER. All.. 100

101

200 ico 900 # 095

100 à 99

Tram

Fureign reserves have grown apace, with only a minor proc. Light portion being contributed from foreign trude surpluses. Most of the inflow was due to repi trku Electric Lion of foreign ussets and speculative moves.

The continuing divergence of Telephone the country's high bank rale of five percent trom most other Telephone discount rates contributes to the

(Rights

600 for 100

190 w 100

100 101

400 + 101

32 3212

23.40 231

U 00 0 100 32 100 323

1000 23.30 1000 23.30 1500 fr 23.40

Now Ford. with only 13 per cent of registrations in the same period, has entered the Falcon, which is competitive to the Holden in performance," price and styling.

for car eleven years ago and much of the time since has beca entrenched as the biggest seller on the Australian maricæl

its six cylinder motor rated at 22.8 horsepower develops 15 brake horsepower, with a top speed of 80 miles an hour. will beat up to six people and about 20 miles to the does gallon of petrol.

medification. to the rear axle. designed 10 Tivo appeloration AWAY siajding posillon, da

20

from match

of the Holden osrs.

The standard Falcon mobi will retall at £A1,197 and the de luxe version at EA1,199, in- cluding tax

is

about

Automatic transmission available as an optional extra. costing £A118, according to ita Holden the manufacturers, will be available in 1981 with automatic transmission; -

The Falcon, weighing 21 SPARE PARTS

ewt, has a ruled horsepower of the Standard Holden saloon re- power,

Including sules (purchase) tax, 29.4 developing so brake horse-

with a top · speed talls at £A1,100.159.108 and the

86 miles

per hour. it de Laxe model for 2A1,169.484d. was a six-cylinder

engine and sales are supported by a wide various newspapots slier con- prend spare parts organisation, ducting road tests have TE- and the parts themselves comported that fuel consumption is 31 miles per pre favourably in price with between 26 and those of other makes.

gallon There is also a good dealer, The Ford company has spent sub-dealer and service organisa- £A35,000,000

and plonning tion together with the B's 100line for the Faleen, fretuling The challenge was issued by own finance company to enable construction of a new, factory

hire at on the managing director of Ford dealers to sell S

Broadmeadows, shout miles north of Melbourne, Australia, 30-year-old Canadian. purchase. Mr John McIntyre.

Dealers are still quoting an "We shall do

to eight-weeks our best

delivery 1 supply the product the people buyers of the FB model Holden.

Bu terms of frilustrial want at ecmpetitive prices and introduced this year.

General Motors-Holdens also strength, it will have less than prepared to stand by we are

the capacity of General what Pembles, and partially builds, half decision of Live

Motors cars and Motors-Holdons who recently including Chevrolet, announced A further RAIS,~ 000,000 expansion to resso

CHALLENGE

public they want to buy," he declared. General "Ford., the longest-established vehicles, motor

to

manufacturer in Aus-Pordine, Vauxhall and Bedford. tralia, will do its part to.com- The Australian-bullt Ford tribute to healthy

++

28.00 20.80

2000 23.40

365 to 20

1500 20.50

in Australia.**

Dairy Farm

on upcountry liquidation. inflow of foreign funds and is cement There was some shortcovering an added season for forecasting of lower sheets for nearby ship-|« reduction. ment but sellers of these grades were more reserved.

IMPORTS UP

Afternoon business continued

Balenced against these fac- with fair interest in lower sheets at narrowing differentials, tors is the opinion of those ex-

After close profittaking took rices back to 944 level. The market closed quiet,

away

and

BOU 28.70

212 29.00

36 3015 4300 30

67

500 35

323019.70

250 GA 10.70

500 44 67

Ex. Div. 30% 30% 5000 @ 30% Watson ... 20.00 27.40 Allied invest, S. Textile...

B.70 8.80 6000 9.30 1000 1,70

1000 3.50

1000 @ 8% 250

600 83%

14.00 14.70 7000 er 14.20

4.30

4.20 A. Rubber

perts who feel that the five Nanyang... percent rule keeps the building Industry from rucing with the whole economy prevents Industritillists from over-reaching Investments de- -signed to combat labour rubber shortage. today.

In London, the rubber market was steady with spot quoted at 28 pence.

In Amsterdam, the market was stendy

UPL

Chicago grain

1000 G 16.70 2000 8.20 5000 @ 4.20 1750004

50000

1000 620

11000 à 61⁄4

600004

As Imports are growing and Rubber T. exports unlikely to increast. Talkoo Dack 041200 300 664T these experts believe that de-

spite the continuation of sur- pluses,

German

the West balance of payments will be Humphreys come steady in the near future. Really

In their opinion a steady bank

fate would,

the 11

case of

imports, provide a fety valve. Star Ferry Chicago, Oct. 11.

It is however considered safe Grain futures were mixed to assume a cut in the West | HK Gos

before the HK. & FE and mostly quiet today as German bank rate

of

Mail the trade awalted

is- und

Special. HUANCE of the govern ment's latest report of 1960 crop production.

At the close wheat was 10 higher. December 1.95%; com lo lower. December 1.08 -; onts" higher to December 66%-5; ryc

lower, higher

1990.-China

Agreed merchant

rates

to lower, December 1,20%; Canadian $ Maximum Selling, and soybeans to higher, 17-3/32; Minimum Buying.

17-11/32 T/T, 17-13/32 O/D. November 2.14-14-AP,

Yesterday's Closing

competition

Falcon American

the

EXPANSION

15

production to 027 vehicles a iffers from

day which, the company says, la model only la a approaching the output of the Urilled States "big three" manufacturerà

General

British businessmen

told to cultivate

Japanese market

ן װ

London, Oct. 11.

Motory Holdens' huge new streamlined assembly lice at Dardenong, near Mel- bourne, is now timing out 832 vehicles a day, plis limited

rhambers vehicled

drive of left-hand for some of the 35 gverseas territories to which I ls exporting.

Ford has not announced its arsembly line output, but esti- mates place it at 200 a day, ba- cuse it is handicapped by a larke, range of models, which Tholude the British Zephyr, Consul, Anglia and Prefect, and the American Farlene.

But Ford executives are re. be contemplating ro. the entire Broad-

The Treasury told the country's businessmen to- ported, to

day they should pay more attention to culti-meadows plant for Falcons, and vating the Japanese market for exports, also

* particularly chemicals.

engineering products

100004

100

100 300

24.00 24.70 3000

1,90

1.925 53000 3 1,90

13000 @ 1.90

5000 1.825

ZOOD GR 1925

100

171

300 úr 100

100 6 178

100 à 170

14.00

to 4170

14.90

14 14.10 1000 2 14.30

While imports of many types manufacturing countries, of manufactures, like machine up by three-fifths.—UPI. tools and other specialised machinery,

Exchange rates

assembling

themat

and Brisbane, switching all other

lines to assembly plants in New. castle and Sydney in New South Wales, and Adelaide,

Both Ford

by

and General

have

İstyled

The Treasury's bulletin for, national income increased industry sald Japan's economy three-quarters between 1950 and Motors-Holdens has a record of very rapid 1858 while income per head of their dealers with "propaganda' growth which was likely to con- population, while still remain-bopilets, comparing

ing much below that of western curs with those of their rival tinue

were small com- pared with those of the United Ivent States or Western Europe, there this was Ha large potential for

growth in the future,"

Business was done in the unofficial exchange market moring at the following rates:-S 6.68 11.9. dullor iper Bit

15.93 Sterling notes (per, £1)

12.63

Australian notes (per £1 Indonesian rupiah (per 100) Sip ticals (per 100) Singapore (Strolls)

COMMODITY PRICES

METALS

Aniortcán Contract

AMSTERDAM

LIVERPOOL

1b.

Closing prices all in pence per No. 1 rubber No. 2 Tubber No. rubber

allotted to auch persons

In the proportion of one

Notice la also given that

000 issued shares then Monday.' 3rd Octobor, held

such ordinary share for the share register of the every two of the said 504,- Company will be closed from

per lb.:

NEW YORK Closing prices, all in cents

No. 1 crepe

to

shares so allotted shall ba

Lead

Oct

Zing

Dee Copper

Der,

by such persons Saturday, 15th October, 1960, respectively, and that the both days inclusive,

treated for all purposes as an increase of the nominal amount of the Capital of

By Order of the Board,

LAU CHAN KWOK,

eterling Closing prices, all Managing Director. per long to:

Buyers Sellers Kong, 29th Aug., 1900.

Spot 3-mpat Copper

„F-manti Zine and disif.

Od. Jan

Dot

proportionately amongst those members who would otherwise be entitled to such fractions and in satiefaction thereof."

the Company held by each Hong such shareholder and not as income, and that auch shares ahall rank for divi dend as from the 1st day of January, 1901 (but not song to entitle them to participate in any dividond

AND NOTICE IS ALSO. deeltred in. respect.of the year ending sist Decam GIVEN that the Share Rogis ber, 1900), and that no ter of the Campany will be fractional certificates shall closed from Monday, the Brd be issued, but that shares to Saturday, the 15th October,

fractions 1900, both days inclusive. ropresenting

as they convidor ekpääjost,

By Order of the Board

of Directors,.. LAU CHAN, KWOK,

Managing Director

and the not proceeds f Hong Kong. 29th Aug., 1960,

sale shall be distributed

shall be allotted to a trus-

tee to the nominated by

the Directors upon, trust

for, sale on such conditions

Mixed Contract

FRONN

88888 233es

RUBBER

23.25 1.00

The bulletin sald Japan has of embarked on a programme 3.30 import beralisation and it was now caster. to get import ileenses for machinery than ot any time since the war. The Anglo-Japanese trade agree- ment signed in July was. Dij other step towards liberallso

2.72 buyers

2.07 buyer

tion.

SMALL SHARE

Was

Big Soviet, Italian

trade

accord

their own

Ford, bearing in minxi that

the overwhelming number Holden taxis have been a good

for advertisement

General Motors-Holdens, is trying hard to soll the Falcon to taxi drivers.

The bli

the question In Australian motoring world now Is: who is going to get hurt?

General Motors Holdens last year made a not trading pront of £A14,981,704. The Holden ik the first seven month of this your accounted for 32.1 per cent of new car registrations anct other eneral Motors-Holdens vehicles, 4.8 per cent,

Ford had 13 per cent of now registrations, Volkswagen 13.2 per cont, British Mutors Cor Moscow, Oct. 11.

poration 15.5 per cent, Austrag will buy 12 million Ian Motor Industries (Standard tons of Soviet all within ears) 5.8 per cent, Chrysler 4.3 the next four years in per cent, Rootes 4.4 per cent, all exchange for Italian steel others 6.9 per cent.

The British Motor Corpora tubing and synthetic rub.

tion

which hps irvester! ber, Toss said today.

The bulletin said only. 7 per cent of Japanese imports of manufactures in 1857-59 came from

Britain, It said "our Italy share was very small in com~ modlites where demand

along with Closing prices all in guilders growing ruddly

Japan's Industrialisation; it was per kilogram, c.lf. Oct:

two per cent for machine tools 2.70 buyers Wa

and office machinery, three per

An agreement to this effect-millions in its Sydney plant, is cent for power machinery, 4

deal in the understood to have been experi- 3.93 buyers per cent for chemicals and 5% the Jungest-ever

with a six-cylinder UPI.

trade menting per cent for base metals and history of Soviet-Italian

concluded be. Australian ear. But prototypes 20% per cent for other manu-relations

twoon the Soviet, external trade so far have been cropped. facturers,"

was stalb agencies and the Italian No simple answer

SECRET the agency podsible for Britain's poor show-state concern, Eni,

Tile Rooice ETOUD hás ing against other manufacturing said:

The Itallin supplies to Russia but the -treasury countries,

alosely- blamed insufficient contact bit will include 240,000 tone of steel quitod a site at Dandenong twceni Bettish and Japanere tubes, el pipe line equipment but ita pirpose is a

guarded secret." 50,000 tone of synthetic

th the smail car fold, the big balne smeti, inadequate pro- and

worry is a price cutting war motten of mutual dade whin rubber.

between the glans, but this is the merits of British products, particularly machine tools, were at pully beneficial prices discounted by most neutral ex- too little knows. Technical links Tas sald,

The total value of the dest between firma in Both countries

to..U.S.4208 million that would lead to bigger i amounts

goods were (about £71,200,009), the agency ports of British Infrequent,

FOREIGN EXCHANGE

NEW YORK Closing rates:

Conate England

1.2 ¥10

53-620

** 30-days

2.8050 .T970

Austraila

2,2475

New Zealand Bosh Africa

Belilura

SINGAPORE

Closing, prieteuil in Strails Denmark:

Maluyan n

W. GermanTY Holland 9456-44% Nomway 0316-96 Buveden

Swizerland indlaks Pakiston

-94 Hong Koque

No. 1 pale crepe

23-64

2nd halk

cente por lb. to.b.

poita:

Nr. 1 Oct.

No. 1 Noy.

Ná. 3 Dok

No.: 4 ORAS

91.02

spot rutier unbed

NEW ORLEANS

T-001% 99-101 LONDON Closing prices all in pence per 16.:

LONDON Closing, rates: New Yor

| Montreal)

Amsterdain

Bettlement house larini

jain/M17

Apr/June (1

281-2011

2146-47734

July/Eepl

Oct.

-2014

Closing prices, all in cents per Now spot - 206-20% Brusels

Oppenkestern

Ellebon

1b.:

Generál máïMAIN,

Estate uripe faln

thick

1968

3:040

2:08

.1400

UNCERTAIN

The deliverica, are to be made

added-Reuter,

Spindles for Pakistan

The bulletin added. Britain's delivery dates oflen_were.com- paratively long and uncertain and sometimes there, who, A, TO... luctance to quate firm priogr. "All this comes down to reluctance to cultivate the Japansen market with sum)-

Karachi, Oct. 11, olent... determination and Joplih has agreed to france Aggregiver.com" buit there an additional 388,000 spindles were mens that this sitilado Is and 1000 Jooma for the Pakis shansing, the bulletin sald..tan textile industry, M. H. The publication, gave British Zubairi, secretary to the Minis- Arma, brief acpount of the try of. Inchutiles, announced. Japan economy's expansion He saidh és elght-member team rato during the files, pointing of Japones representatives out the volume of friports, and gitu getuber Wiivit Pakis exports and Tekity, quidraßled | Tally" Pesci, "Wasle: 18 'insti56 Par from the low level" of 1950; real juin detalle.

of

potla

Ford is attacdng in2 General Motors-Holdens' own field and has plans, too, to carry the fight into the. commercial yehicle nela, by introducinga station, wagon model to loosen the Terip which Holdena have all that market,

What is foarea is that deilirs May

higher

Tradin

priscs for secondhand models brick that do the two Kidhita strugkle, the analler share of the market hola by other manu- furers, may be their arpay,

tdrn from

Many experts in the industry Bay, that, the biggest loser could Be Brilian Motor Corporatibu, with its Alstin A70 and Ats Morris inodels, which have Baits compling with Helden in the medium sized Held, u ožina Mali Special,