1960-10-18 — Page 2

NEW YORK Wall

COTTON MARKET

New York, Oct. 17. Cotton futures returned to dullness today after

share spurt in turnover lafs 'last month.

At the closee Tut ruled 10

points lower to the hitherto

opening

This "herping "un changed to 10 points lower, New Orleans futures finished a point lower to five points higher. Trading in all positions wap Jack-lustre, despite roperti

that mill buying of spot cotton has improved in the past week, expecially of prompt" Novem- ber, and December shipments,

At a meeting of the British Cotton Board it was suggested that the cotton 'trodé and man made Aber trade associations were merged into group....UPI.

singic

Rubber

market

review

New York, Oct. 17. Rex rubber futures today closed 20 to 45 points lower on sales of 52 con-

Street

Renault to dismiss 3,000 workers, car sales drop

Paris, Oct. 17.

France's nationalised Renault car factories, biggest automobile manufacturers in the country, announced today that they will lay off 3,000 workers because of a drop in car sales.

London

money

market

The company's management stated that Renault, which until ecently had sold 00 percent of its passenger cars on the foreign been the most market, had seriously affected of all French companies by the fall exports.

EXCEPTION

In

car

THE CHINA MAIL,

TUESDAY, OCTOBER 18, 1960.

eases after good start

New York, Oct. 17.

The stock market soared confidently into an overhead resistence level todgy but backed down meekly when the going became rough.

still production

level in

The move was generally ex Lone Star Cement Co. pected by security "nalysts Lowenstein Sons, McDermott $. Rey white vestors were further eponnell Aircraft discouraged by several påor | Mojck t camilles statements andhg keyin Iren Corp. companies and another stand-Mhese hing steel industry this week.

Youngrown fell back well over a point with Repubite ant U.S. Stoel "downi fractions. motors held up steady, to firm prodded lower but chemicals,

Missiol Develupiment the Kansanto Chemical Co.

National Bicult Co. National Dairy Prod. National Lesh an National Steel Corp. New York Censfal”. Noranda Mines Zid. Norfolk & Western Ry. North Amet, Aviation ...... Northwest Airlines (Cora Okinhumme Nat. Cas.. Osin Elevatori Owen-Ilkoolk Glass

Penny J.C. Co.

by a dismal income statens for Dupont sagged miserably. Dupont dropped around' Eastman Kodak 3. Thokol over Oxford Paper Co. 2 and Union Carbide a pojut." Pacific Gas & Elec.

Procter and Gamble dpd AT Pan American Airways and T lost or more, 185, Paramount Pictures Texas thatruments and Litton PRP Marrie The lay-offs et Renault were anywhere from 2 to 4, Amer- 1 Penan Salt Co. considered to be an exception can viscose 2 and Alcoa over 1. Pitney Bowes here. A Finance Ministry report

Mineapolis and St Louis Roll- showed that other auto plants way, which said negotiat needed some 25,000 additionning for "Imphaze industrial workers. Talks were engaged

acquisitions,"" climbed prout between Renault and other Paris, the company was just Brms for the re-employment of the dismissed Renault employers. North Wester

taken over by the Chicago and

MBI stocks appeared Hi

Honolulu

Porter & Gamble Co. Pittsburgh Plate Clas Pulsieker Industries Pullman

Pure Oil..... Radio Corporation Ruho Corp. Pref. Raytheon

Republic Steel Reynolds Tobacco Royal Bank of Cavecla Royal Dutch par

Shell Oil Co,..... Sears, Roebuck & Co.

Safeway Stages

Meanwhile. the Communist- led C. G. T., the Catholic C.F.T.C. decided with and the Socialist Force Ouvriere over a point and America down 11. Corning gins's trade talons protested against around the lay-offs. The unions said that works was a wide mover with

more then, Schenley Inc. gain of the "general policy of the gov

and the Renault Polaroid fell around the same Scott Paper orement

responsible amount was

Landen, Oct. 17. Money remained door in the London market over the week ended October 14. The market had to contend with heavy calling and a lack of adequate supplier of fresh money so that on most days they readily conceded three to eight percent for loons, whilst 5% management“ was paid for money eroated by for the situation.-AFP.

Authorkies" during the course of smoothing out opera- tions which they carried out on a large scale.

tracts. Futures

drifung the continued lower in light trading as manu facturers held the murket and prices, declined

primary centres. Offering from the Far East picked up but were in- nctive, still considering them overpriced. The current month No, it was quoted at 34 centa, In Singapore, the markel lower with buyers opened!

bid. reluctant

Busines was slow to develop

and limited to some shortcovering.

The afternoon session Was very quiet with prices virtually unchanged. Lowers were smalt demand.

to

In

int London, the rubber market was steady but quiet with No. 1 spot quoted at 284 pence.--UPI.

A good deraand for bills was encountered throughout the week with end-Decenbors. January and "hots" sold at 5% and 5-19/32% with some at a split rute between the two. Some bills have been said following the weekly tonder at 5-13/32%,

The Treasury bill rate came out 'sharply lower at £5 Ds 6.35d per cent.

The market's quota was 63% £280 million bills offered as compared with unly 35% of

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

Saint Reg. Paper

Siegler Corp. Smels Oil

Smith; King & French Bocny Mobil Cl

Southem Co. (The)

Heinz rose 3 points in the foods, Texas Instruments gave

Ciec- South Puerto Rico Sugar 34 in the up around tronics, International Salt Southern Natural Gas ed around 2, Norwich Phar-| Southern Poole Co. mscal around 2 in a mixed Southern Railway (Com.) drug section, American Viscose Sperry Rand lost close to 1 and Vendo galn-Standard Brand ed around a point.

Today's volume was 2,200,000 shares, of a total 1,211 sues traded, 420 were higher and 540 lower. American exchatge olume was 1.170.000 shares bands

amounted to volume $4,000,000 Dow Jones closing averages.

30 Industrial

by

20 Rails

Business done at the kong

Hong- Stock Exchange this

65 Stocks

£200 million offered to the pre-moming amounted to approxi- vious week-China Mail Special. mately $3,180,000. Noon quota- tran- tions and the morning's sactions:

Daclors in

TELEPHONE COMPANY PUBLIC UTILITY & INDUSTRIAL

SECURITIES

MUTUAL FUNDS

Information and Suggestions

Specialists in

OVER-THE-COUNTER SECURITIES

FREE PORTFOLIO ANALYSIS

For further details and list of current auractive recommendations, write

Morris CaнON & CO.

Blares UK Bark

Buyers Sellere 1300 1310

L'aton

123

127

Wharf

2311

240

Wheelock

Duck

7.30 .7.95

Bales 101200 152 110 @ 1300 201205 201305 50 1100

100 €127 2000 120

200 @ 197 119 120

300 125

230

Govt 238

- 500

UB 108 2000 jot 500197

Provident 02:20 20:40

10:00 22.20 250 22.20

15 utiles

40 Bonds

Comm. fulpre price

index

Closing prices

Abitibi Pwe, & Paper

Alden Inc. Acy,

Algens Steel Corp.

Allled Chemicals

All Milfy Inc.

Q3 of Cal.. Standard Oil of Ird. Standard Oil of N Sleep lock Sterling Drug Co. Stokely Van Camp Studebaker-Packard Curp. Sunshine Miniizz Swift & Co. Textron Inc. Thickel Chem.

Texas Co.

Tide Water Ol Time Inc.

593.34 Tri-Cont. Warranis

127.62 Twentieth Century Fox Film

94.18 Union Carbide

Union Pacific Railway 107.70 United Altcraft

84.43 United Fruti

United Cas Corp. U.3. Poll "8"

143.56 VS. Gypsum

31

Us. Lime Co.

U.S. Iubber

3016

GA

40

0314

LONDON STOCKS DULL

London, Oct. 17.

Continuing labour troubles and the gerlitent jqvčije export-Import Balance combined to give the stock exchange, a gloomy (gok today.

Meading industrials shed fractions, and steel shares werd Specially hard-hit by He threat

lay-offs h leading mills be cause of shrinking demand for the product abrond.

British government bands moved hesitantly ahead early la the Pession, only to suffer 1934 delapio before"the close,

04

a

Gold mming issues were ir-

4214 regular, coppers dull, oils quiet

2203*

641%

343

2114

8016

3472

40

to

1471

45

37

4315

1924

442

404

40%*

0%

1042

and corilerAP.

Closing prices

Britan overrumont béedzīties 2. Consolidateu-& 45-3/LU,

30. Cons

5. Bavings

3 BAVI 120/70-£789%. 37%, Savings. 13060/16–47115.

Bank) KeInsurahes Harclasa Ord-044 33 104 Chartered Bank-528, Fengxong Book-L644. Lloyds Bank-d Union Insuranco-îa Tid.

Burmah 012

det

Royal Dutch—£ 12j4.

d steels Erstheering

Babebek & Wilcox Ord-34a xd.

United Steck-763 40:

Vickers Ord- d.

* Industrial Asoc. Elec. Incistries—439. Assoc. Portland Cement Bus 200. Boardman Merdén Örd-.. *Britlah-Amer. Tob. Ord-SPA 31,

British Setor Ord-159 60 Cunts (J. & IT.) Orel-50 3. Courtaulds Ord-50 40

De La Fuse Ord-08 d. Dunlop Rubber Ord-4 3d xd, Elec. & Mus Industries 131 41. Ford Motor Ords 10 h General Electric Ord-331 Del. Gllanan Holdings: Ord-Er id, Great Universal Ord-530 Hawker Suhteley Dis 10% 4. Imperial Chemical Ord-70s 0. Imperial Tobacco Ord-61 4d Marks & Spencer "A" Ord-vás. Roll Royce Ak

Standard-Triumph-sad.

Unilever On~185# Woolworth Ofɑ—BIs.

Miner

De Beers Def-140% 10. Petaling

44.

Union 1001 100

Bowmaker Ord-289. Canadian Pacific: Orti–JISY. Hongkong & China Gami P.2D Steam Nav. Dets

Reuter.

New York

sugar

New York, Oct. 17. World No. 4 sugar futures closed today unchanged to 13 points higher with sales of 92. contracts. Domestic No. 8 sugay futurs closed two points lower to un- changed on 89 sales.

US, Smelting

U.S. Steel

U.S. Bleet 7P.C. PF

1421

Warner Bros......

48

Waukesha Motors

Westinghouse Air Brake

2211

Westinghouse Electric

3G

West Va. Pulp & Paper

24244

Winn-Dixie Stores

651

Woolworth (K. W)

69

American Airline

1022

Zenith Radio

100%

American Cable & Radio-Corp

UPI

American Cyanamid Co.

Amer. & Fürgn. Power

Ain. Gas & Electric

Fūlures were marrow and quiet throughout the session UPI.

All Claimers

Am. Brake Shoe

Am. Home Prod

Am. Mach. § F'dry. American Metal

Am. Natural G

American Smeling An, Sugar Ref.

30022.30 American Tel Tei

IK Hatel

K Land..

4324

24

+4

44

1900 44

Yaunat!

Tram

C. Light

Electric

:

BGO GF 03 2000 63 100 03

100003 500 14 03 105 JOG TOO LO

100 105

300 or 105

#23232 100 325

23.70

100322 3000 of 3214 100 or 24 1202

24 1000 23.50

211.68 28.80

American Tob

Ainpex..

Anaconda Copper Armour

Balwin-Lima-Ham Baltimore & Ohio Bank of Montreal Bank of Nova Scotia Beech Life Savors

B. C. Tel. Co.

Bell Telsplinte Beneficial Finance

Bendix Aviallon Corp. Benguet Cons.

Belitlenens Meet

Boeing Airstre Borden (7) Co. Burroughs Add Machine 270024 British Amer Dil

500 23.90tish Columbia Pwr. 1000 23.00 Cailt. Packing Corp.

300 20.70 Cana. Bk. of Comm. 2008.30 | Campbell Soup Co. 102 ir 26.79 Canadian Pacifle n. 600 28.70 Doge (3. 1.) Co. 304 Cat. Traci

20%

British goods displayed in glass pavilion

Mascoy, Oct. 17.

A British trade and industrial exhibition next May will be the first to usë a' giant glass and aluminium pavi- lion now being "built in Sokolniki Park here, the Tass has reported.

Tass said the main pavilion → floor space of 8,000 metres (about 20,000,-

600 square feet). A smaller

3519

2112

had

26

NEW YORK 6, N, Y.

Telephone

Telephone

B Cement

Dairy Farm

X.b

1671 37 2504

1200

4 37

Celanese Corp;

241

aquare

20.20

1000

902

37

CIT. Finaclit Cero,

381

Chase Manhat. Bank

a

100 37

2020 Chrysler Motors Cluest Peabody

60

5500 87

581 gallory.

it and connected by a

209

Members: Pacific Court Stock Exchange New York Security Disteri Aim.

19 RECTOR STREET

P.O

50%

Waison Allied Int..

Textile

23.00 อ.วช B.90

LINES

14.50 14.00

Amal, Bubber 30 ....

0.05

jubper T..

8,10

મા

7000 3 8.5

Talkoo, Duck Humphreys Realty

pavilion would be bullt next to

Class

Agreed merchant

rates

Canadian $ maximum selling 17-3/32. minimum buying ∙17-11/32 T/T: 17-13/32 O/D.

Yesterday's Closing

Russia far behind

in

only

air travel.

one jetliner

Washington, Oct. 17.

Russia's failure to develop modern jetliners is costing her a chance to compete for the world air travel market, a top U.S. aviation official said today.

Mr Stuart Tiplon, President of the Air Transport Association (ATA) which represents ·U.S. interview nlrines, said in on

that the Soviets had nothing to match the jetliners' of the free world.

"they "Instend", he added, have concentrated

on slower turboprops which are at a 'Bilge competitive disadvantage with

'pura jela"on the Interna tional routes."

Tho

Mr Tipton returned recently from a trip to Russin'ne 'part of U.S.-Russian exchange visit. Soviet aviation officials came to the United States last summer to American commercial inspect aviation facilities.

Mr Tipton, along with the

M Federal Aviation chief, Elwood R. Quesada, and other US aviation leaders, comprised tho' return delegation that Dew |lo Russia Inst month.

was

Communications

system

A flight deck communica- tions system designed to pormit voice communica tion between a flight dock control centre and flight. deck "crews on "aircraft corriors, has been develop ed by a U.K. firm in con junction with the Admir- alty,

+

Normally, direct voice com- munication on the flight deck is Impossible due to level of bir- craft roise and to the ear pro

Craw by lecters that are worn members.

The new system enables the controller to transmit orders. aver a. broadcast channel at Mr Tipton Raid Russia's only

audio frequencies. The signals delfiner was the comparatively

are fed into a magnette coupling which ancient TU-164 smaller, shorter-ranged and far loop encircling the flight deck more expensive to operate than of the aircraft carrier, Indiyl-

dual crew members carry American Jets,

receiver that pleks up the nudio "We asked them if they had sigrals amplifies and foods anything corning up in the way them to an earphone built in of newer les transports," Mr the ear-protector. Tipton said, and were told, no: Key members of the flight- that they believe the turbo- deck CrAWA DIE able tolaik próba are more efficient"

back to the control centre by of a VHE (very high Mr Tipton said the U.S. dele-means

radio transmitter gation got the defnite Impres- frequency) sion

commercial which is carried clipped to the that Soviet aviation is far behind the West. receiver.

hard." he "They're trying

Fully transistorisert

thq. said, "but they have a long way miniature portable equipment: to 'qu in equipment, phasenger is battery operated and protect- service and all the other factorsed by a wylon cover. Its small that to Inte capable pir rangsize and light weight enables it

to be carried in the user's poc Lariation."

freedom of The ATA chief said much of kót, allowing full the trouble lay in the fact that action. Soviet commerelal aviation was

to Crystal control la used comprised of only one airline provide a pre-set frequency-for Aeroflot-which had no domes the VHF transmiter. The audio

fè competition.

"It isn't really just an airline," output of the receiver is kept Mr Tipton explained. "It's as it constart by automatic gain cor

thus dispensing with we had a setup whereby all our trol, alrthes plus the Federal Avia-porating controls in the port

The fing tion Agency. Civil Aeronautics able cquipment.

equipment is bbard, at research organisations control and everything else remotely roused in a standard Admiralty connected with aviation were cabinet, and is operated from. combined in one giant govern the ship's electrical supply syg

tem--LPS ment agency." "UPI.

centre

COMMODITY PRICES

Mar May

METALS.

July

33.03 02.70 42.50

LIVERPOOL

Closing' prices all in por b

pence

“American Contract

NEW YORK Closing prices, all in cents per

Lead

10.28

Mar, May July

23.55

23.85

13.40

Mixed Contract

Zăpa

Oct.

Dec. Copper Cet.

Mer.

May

July

The sold the architecture was "austere and expressive." lb. Sokolniki park was the site of Last year's United States ex- exhibition hibition. A French

Ik will follow Britain's in August,

LONDON Closing prices, all in sterling per long ton;

Spot

3-month

| Cuban Amar. Sugar

Delaware & Hudson Co.

2133

Diamond Alkan

Bay

|--China "Mail" Special.

4471

283 2826

SUGAR

P

NEW YORK

Closing prices; alt in conge per lb.:

Contract No. 4 (w

Oct,

Mur May

July

-UFI.

ORIENT

R.M.S. "CARTHAGE"

EMBARKATION NOTICE

for United Kingdom yiş Singapore, Penang, Colombo, Bombay, Aden, Buez-Port Sald. EMBARKATION:

SAILS:

Passengers should probark batween 2.30 and 4.00 p.m. on Friday, 21st October, 1960.

The ship is expected to spil at 5.00 p.m. on Friday, 21st October, 1980.

BAGGAGE:

Should he sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 Gate) by 5.00 p.m. on Thursday, 2016 October, 1990,

SUBJECT TO CHANGE

Nanyang

PK Gas

man

1

Macao Eleg. Int'l Dow. LK. & FE

Star

100 37..

50031 31% 312

2300 & 31%

Colombian Carbon Co

Commercial Credit

Comite Glam Works

Censolidated Edison

Consolidated Paper Grammers Gat

480031'optinental Can

500 @ 31 1000

200+ 0.10

3.66– 2000 to 2.50

2000 5.99

1250 © 20

1.70

Continental Oil of Del. Crane Co

| Distillers-Bakarame

Dortodon Stores Douglas Aircraft

1190 14.00 Dow Chemteet

8.16 1000 9.10

2000

300 0.10

2000 i 0.05

84 04 1000 G DI

1000 **

12:00 44 24 190 1925 24030 @ 150

10000 7 1.28

10.30 10:40

16 · 12,220

6.06

Mond jd: 11.90 [Brve, Crew. 411 12 Entertainquent As

220000 g 1325 2000 44 1.023 2000 1000 15.20

1540 ( 19.30

Exchange rates

10.40

Dupont de Nemour

Eastern Air Line

Fastman Kodac

El Paso Natural Gea

Family Fance · Corp.

Ferro Corp., GROU First Nat. City Bank Ford Motor Co. of Cana. Ford Motor Georgia Pacifi General Dynamics General Electric

Food

Ge Mot Der Pub, VEL Gen. Tel; &e Elec, or Gen. Tyre & Rubbe Cletty. Ollaan Goodrich (B. F.) Co. Goodyear Tyre A Grumman Aircraft

Hammond Degan saa Heydan Newport Corp. HTT: Wikerkaa Homerlake Mining Co. Sumerians, Refrig. Idaho, Power

по дла

Inland Steel Do

DET TOIVOn · Machines ar HL Hocalar Aklusp International filckel International Paper John-Monylile Co.

Zhuyzens was done in the focal Raler Industries

exolante markpl, Hae | Xennacoli Copper· mortiing at the following dated)-*|| Kimbwie" Cikrler's

Langit Myers)

Buatrainer rinted (cer, & L Indonenes rupiah) (per 100) .... 590 | 1bble-Groestezian

2014

Textile market

New York, Qct. 17. The cotton textile market

was quiet today.

Buyers

showed no inforest and geré moltajitas a policy

Copper

J-manth

Zing 2nd half Oct.

Jan.

Lead and halt Out,

The wool goods market was 1b., quier Dices "were steady t the South African wool gue

tions.

In synthetic gooda, most of the limited · busctrolym blended: Enbeles You? spot” arid fourth quarter delivery? It was reported that

of

producers

Buyers Seller

700

223

RUBBER

NEW YORK. Rox rubber futures closing 68% prices, all in conts per lb.

Jah...

GO

UPI.

COTTON

NEW YORK

conte per

pot

Nov,

May

July

SINGAPORE

33.00 32.40

31.03

31.20

Closing prices all In Straits

cents per

porte: No.1 Nov. * Deci No. 1 Nov. No. 3"

No. 1

1.0.b. Malaya

spat rubber unhaled

Spot(T.A.S. Cuba) Total Bales: 32. Open Interest: 157 oon (Contract No. 6 (do Nov, JAR

Mar

Spot-CiL Total Bald

30 contracte,

Open interest: 300

* FOREIGN

ENCHANCE

NEW YORK

Closing rates:

Canada

Exigiant official

'H

+

Q-day#

-50% | New Zealand

Other unchanges.

LONDON

184-934 | Austrails

Birniket gripe Sharian

· 97+0836

Noy 1-pale crepe

LONDON Closing prlogs all in pance

per 163 No 1 Flas spot .... NEW ORLEANA AR Cloning pelo ali începts per 9930 Valoha ho17 to 114 | conta de posida | Tugba va

ron Lyre oord calaod prioda

Novextired, yıl | shipsátæktað étel

action by proditiours – waar C: Ital

tributed"" to" sit; and

Cof

2014-2016

'. Closing rates; New York

Montreal

Amsterdamn

Brunei Copenhagen - Fraktur

1,

Delő

Parle

Stockholm,

Vienna

Jutk

10.60