THE CHINA MAIL, WEDNESDAY, OCTOBER 19, 1980.
Sharp decline seen
in
LONDON Wall Street HONGKONG
CLOSES MIXED
Löridőn, Oct, 18. Industrial stocks dided to day's stïsion 'milked, with minus marks dominating. The leaders showed Kule from obange, Steels yesterday's starp fallback, al- though galis were measured in fractions.
rallied
New York, Oct. 18.
Stocks took a sharp drop today as corporate risulf in the past thà months cast a pall over market senti- munt:
All the heavy
Industrial doodver. tyre
Grumman Aireran
groups were marked down in direct response to the tillux of boor
Great Northern Raliway quair all va Tomstake Mining Co.
third quarter ëäthings and Orgah
statements while building shares received an added blow to the news of a sharp drop in Sep wmbor housing starts.
in
U
US
Walker
Iduito Power Imperial Oil .... Imperial Tobacco Ingersoll-Rand
Inford Steel Ca, ... Inf Business Machines int larvester ........ International Nickal international Paper Intl Tel & Tul
interchemical Corp.
Power &
and Laughlin, Jones Steel and Lakens fell around 11⁄2 each, Chemicals as much Slores held to the uptrack. as 2 in Dupont and Barkman Wan Street's doellne Look Koduk. Aircrafts as much as dollar stocks downside,
For in Martin, and Building John Mawilegi
around theros cign bonds stayed neglected.
21+
Kemecolf Copper mlninst South African gold
Kimberly Clark Gypsum.
Liggett & Myer Tob. O counters hardened.
About
optimisticly Tulip the only note cast was in decline in Lockheed Alterati volume from the previous day.
Electronics
generally holding around the even mark as the market closed while Youngstown Sheet bucted the downfrend with 1/2 point gain.
de-
Coppers and tins were pressed Oils recovered most or their hial smalt falls, Rubbers fell back under a bout of small selling and teos were dull.-UPL
31
Closing pricos
Billah Government Securities
Consolidated-445-5/10. Conversion £60.
3, Sayings 1935-488-51/12. 3. Savings 1960/70-78.
3 Savings 196/75-C71-9/10,
Banks & Inratice
Tarclays Ord-038,
Chartered Bansk-6ix_id.
Itongkang Lank-2014.
Lloyds Bank---71
Union Indiance-
Burial Onna K.
Royal Dutch-£121.
Steels Engineering
Babcock Wilcox Ord-33 43. United Stool-79 d. Vlexers Ord-301 14.
Industrials
Amue. Elec. Industrien-42 3d Ace. Portland Cement-709 7. Hoarima Marden Orda el. Itrills Motor Ord-15%.
Conus 13. & P.) Ord-50x Cartautds Ord-30% 48.
Rue Ord- 3.
Bunny Rather Elec, & Mews, Insettrica 45. Ford Motor Ord-91 7. General Electric On-4 G. Gilman (Haldungsi Ord--20_45). Great Universal Ord-3 d Hawker Siddeley Ord-30s 10. Imperial Clemien) Ord-104 44. Marks&Spencer "A" Ord- Rolls-Royce-131 st. Standardyphs id,
Unilever
Woolworth Ord-is Tu.
Minos
De Beers Det-140 30.
Unich
Tild.
No Corporations
Miscellaneoui
Bewmaker Canadian Pacine
akume & China Gen159.
Steam Nay. Def-3s Sl. -Revier.
No cutback in
copper output
London, Oct. 18. The International
Nickel Company of Canada are not contemplating a cut- back in copper production, Mr J. R. Gordon, president of the company, told a
conference press London.
in
He welterated that popper was a by-product of nickel produc- tion so far as this company was
were
Low Incor Lone Star Cement Co. Lorillard P. Lowerateln & Sons,
1, Ray McDermolt Merck ... Mesabi Iron Corp
STOCK EXCHANGE
ANG NAC :
Bulis done at the Hong- kön Block Exchétise this midra- ing amounted to approximately $4,300,000, Noon quotations-and the morning's transactions:
Sharee Buyårs Boilers 1K Bank .. 120 1300
401
401
Union
125
When
Waterboat Wheelock
::
158
·308 & 1300 70 @ 1205
10 1900
82 1205
30 $300
120300134
AM
80 @ 128 2001 300126 2004 125
400 $ 109
MALAYA, SINGAPORE COMPETE IN OIL REFINERIES RACE
by GORDON HUNG
Kuala Lumpur, Oet: 18.
The race for industrialisation in the Federation and Singapore has taken another step forward with plans for the setting up of oil refineries - prerequisite for heavy industry-in the Federation.
Singapore is already building
turo.
Both of Malayale Broposed multi-million calls it reanctles are to be lted in the Port Dick- son area of the West cost of Malaya,
60 miles from the Federal capital.
-
Shell will build a MS00
the name of lion plant under Shall Reining Company, Fedora- tion of Maloya, while the $50 millon Standard-Vacuum sub- will be called the sidiary Standard-Vacuum Refining Com. pany of Mataya Ltd.
Both bombonics have applied
for plonger industry statis
Britain's aircraft exports top
New York £1,000 million
cotton market
New York, Oct. 18. |
The Society of British Aircraft Constructors, which represents aircraft änd aircraft engine manufacturers in Britain, recently announced that Britain's aircraft industry had exported £1,000 million worth of products since World War II.
This total
shows that, perl
But the backbone is the main aircraft
five years of tax free operation Coticn futures hold steady head, of population, Britain is products of Britain's
in dull and featureless earning mote overseas than any industry, military and civil alt- dealings today.
7.00
7.00
300 7.90
1000 7.40
B00 7.00
HK Dock ..
100
110
1500
100
200 g job
100 108
000 100
Monsanto Chorcal Ou Motorola Ins.
C. Provident 21.00 12.20
200 2200
1522.10
-and the applications have been granted in principle.
gonerally lower, Olla were Drugs showed losses of 1 211⁄2 points.
to
National Cash Reg. "A" National Lead New York Central Norando Mines Lid. Norfolk & Western Ry. North Amer Aviation Northwest Airlines (Com) Okishere Nat. Qa Qtle Elevator
HK Hotel...
43 2000
IK Land
4214
53
Today's volume was 2,220,000 shares.
total
were
כא
tradet 321
608 lower.
Ambricsa
1,189 shares higher and
exchange. volume
was 1,800,000 shares.
Sonda volume amounted to $3,000,000.
Dow Jones closing averages
were:
30 Inchistriols
| Owen-flinola Glass Oxford Paper Co.
Pacific Gas & Elec. Pan Amerionn Alway Paramount Pictures
Parke Davis Co.
Philip Morris
Pitney Bow CS
Pupticker Industrias
Pulime
Fure Oil
Ratio Corporation
Haytheon*******
Republic Bloel
A Shell spokesman said his
Was company's Tenery
anti- cipoling an annual intake of one million tons of crude oil.
The project is expected to adequately meet Shell's require
In the ments
country for petroleum products.
The Standard-Vacuum refinery is expected to take two years to build from the time the ground 62 is frs broken.
1200 @ 62!!
BOO 021
300 a $21
Yaumau
088.70
20 Rails
128.71
Heynolds Tobacco
HK Trom.
103 104
3144
700 @ 10-1
300 @ 103
30
3000 6 32
15 Utiles
04.30
Royal Bank of Canada
800 38
65 Stocks
108.88
Royal Dutch
Ch. Light
100 24
Shell Ou co
40 ins
84.57
Common. index
fature price
Saint Reg. Paper
10024
143,54
Closing prices
Abitibi Pwr. & Paper
Algurid Sical Corp.
Allied Chemicals ..
Allied Ms Inc.
Allis Chalmers
Ain. Brak Bhee
Arn. Cable & Radio Corp.
Am. Mach. ♫ dry.
Americi Mini
-Am. Natural Gas
Amerie Amelting
Am. Sugar Etat,
American Tel & Te
American Tub.
Ampex
Anucode Copper Armco Steel
Ariour
Asbestos Corp.
Baldwin-Lima-Ham.
Ballimore Ohio Bank of Monstqgi. Bank of Nova Scolin Beach Life Savers Bell Telephone
Bendix Aviation Corp. Benguet Cops. Bethlehem Stoci Boeing Alplane norden, (The) Co. Burroughs Add Machine Calit. Pocking Corp. Cana. Bk. of Conn.
sh Amer. Oil
Canadian Pacific R Com 13. 1.) On. Cut. Tenetor Celance Corp CIT. Finanelal Carp. Chase Manhet. Bank
Chrysler Motor Cluett Peabody Colgate-Palmolive Co. Consolidated Paper. Consumers Gas. .... Continental Can Continental Oll of bet. Creale Pet A Crown Zellerbach Cuban Amer, Sugar Daininion Blores Dow Chemical the prolonged 1958 strike OL
Dupont de Nemours the company's Sudbury plant. Zaxman Kodak ...
El Paso National_Das On nickel he was able to
Family Finance Corp. sure users of adequate supplies miral Hat, City Barike now and in the future. World Ford setor Co. of Clans, consumption bf free nickel was General Dynamics
Georgia Pacific estimated at 500 milion pounds General Electric
Foods in 1900 compared with 435 mli- Hon last year, of which INCO General Motors Gen. Pib. MED. contribute 350 million Gan. Tel. & Bed would against 317 million in 1956 en Tyre & Rubber
Glidden Co. China Mail Special.
Goodrich (3. T.) Co.
concerned and it was their In-Consolidated Solson
tention to meet all consemer requirements of nickel. How ever, sales of copper would be conditioned by the world mar ket position and the need to following build up inventories
PO
ORIENT
LINES
R.M.S. "CARTHAGE"
EMBARKATION NOTICE
for United Kingdom via Singapore, Penang, Colombo, Bombay, Aden, Suez-Port Bald. EMBARKATION:
SAILS:
Passengers should embark between 2.80 and 4.00 p.m. on Friday, 21st October, 1980.
The aliip is expected to all at 5.00 p.m. on Friday, 21st October,, 1980.
BAGGAGE
Should be sent to the Hongkong & Kowloon Wharf Co's Godown (No. 2 Gate) by 8.00 p.m. on Thursday, 20th October, 1980.
BUBJECT TO CHANGE
Safeway Stores
Schenley, Inc.
Scots PupeT
Siegler Corp.
Sinclair all
Smith Kine & French
Bocong Mobil Di
171 South Puerto Rico BULET
Naturel Gan
3175
Shen Paide Ou
187 Standard Brands 14andard out of Cal.
Standard Ol) of tab,
3111 Standera D of NJ
Steel Co. of Candes Stone & Webstor
Budebaker-Packard Corp. Swift & Co.
70 23.80
Electric ....
28.80 28.90
Telephone
35% 30%
Telephone (LED)
1011⁄2 G... CoTSÉRLÉ
&
FOREIGN EXCHANGE
Both ventures will result in substantiall forele exchange
for the sayings
Malayan economy.
Meanwhile in Singapore, work
6134 23.30 Is progressing on the State's two
200 23.90
refineries.
The Shell Company in Singa-
1500 23.A's pore is building
u 340 million
Bukom, en
100 28.30 rodnery on Pulau
225.00 island about a mile from Singa-
1000 0 28.80
[email protected] pore. 300025.30
100 26.80 200 @ 3024 100 @ 30
500 3231 200 @ 30
57 1000
19
2014
aft - Textron Ive,
$215 Hubicol Chin!
33% Tiẩm Water Of
Dalry th
22
Twentieth Century Fox Flim
Ex, Div...
2116 12
02
Union Carbide
Oll of Col.
3216
Uion Pacific Railway
United Frust
2433 United Aircraft
12
US, Gypsum
VS. (lubber,
WK VS, Smelting
44
US. Steel
16 U.S. Steel 7 P.C. Pr
Warner Bros.
59
Westinghouse Air Brake
sit Whatinghouse Electric
West Va. Pulp & Paper Woolworth (R. W.)
48
43)
2231
1015
7414
Watson
27.90 23
Allied Inv. 0.15 6.30 Textile
8.00
Rubber market
review
New York, Oct. 18.
Nanyang 14.00
A. Nihuber
Ex. Div.
H. Trust Taikoo
Realty
* 20.20 10,20
1800 312 3000314%
100
4+2
1032313%
2300 & 3115 4000 or 3135 10031
200 31 400 27.70 340 27.70
11000 8.65
5000 $ 8.95 2000 14 8,03 15 2500 @ 14.80
600 or 14.80
b.10 1000 6.10
2000 8,10
700 6,05
DOOD 0.05
4.20 8 8500 0.35 000 0.20
4 041 4000 641
400 17 04
200 045%
1.90 10000 @ 1.90
Star
Ferry 177
ПК Gas
..19.30 10.40
Rex rubber futures today Lane, Craw. i closed 10 to 25 points Int'l Invest.
on sales of 23
higher contracts.
Short covering in a smail way was enough to keep prices ahead today, but wit
facturers
maria-
continuing to bold
back, volume was small, Offer-
For
0134 Inga from the Far East were much less scarce but continued 100 high priced here for mich to be done.
October- November shipment, 3 ambers were offered at 27 and 4 ambers at 28 along with pure amoked blankets at 284, 1 sheet at 31% and 2 sheet at 314. The current month for No. 1 Rss whe raised 4 to 344 cents.
In London, the rubber market was firmer with spot quoted at 28% nominal. No. 1 Rss spot 28% 29 nominal.
In Amsterdam, the rubber market was stebdy toitaý.
AS EXPECTED
oversens
In Singapore, advices were very much as ex- peeled and the opening libre was sightly lower than last |nights final tevaje.
Climan
3000 1.8215
40000 31.90
2000 # 1.825 B0001474 5040 1.90) 100 m 178 100 #177 100177 2003 1781 2500 15.4
1000 G 15.40-1
2070 13.30 4000 6 15.39
40
1000 € 42
0.63
8.70
2000 V 8.70
200 7-035
1000 8.70
2.15 2.173 3000 or 2.176
W. Germany
won't revalue
currency
Construction began in June and is expected to be completed by 1902. Using crude oil from the Persian Gulf and Böinée, the refinery is expected to pro- duce 20,000 barrels of petroleum products a day.
lower
to
folher afrcraft manufacturing) craft and their power plants country. The current annual "Military" la given precedence At the close the 1st ruled six
rate (more than £150 million) because the leading best-seller points lower lo one point higher represents about £3 a year for by far since World War II hat after opening Wis morning
every man, woman and child in been the Hawker Hunter, at three pointu
four the United Kingdom. Compar- present standard equipment for New Oricoris iures able recent earnings higher.
fighter squad- per head day intercepter finished unchanged
were four shillings for the runs of the Royal Air Force. polnis lower,
United States of Americe £1 Adding licence-manufacturing for the Nether- royalties and off-shore procure- Trade and commission house two, shillings
shillings for ment orders to direct export lands and twelve old were on both sides of the
·France.
eurned zales, this aircraft has
£200 million overseas. crop months and the late 1081
Nor does the £1,000 million aboul minor positions in
fashion,
Aguro (£300 million of which is nearest rival is the Vickers
ما
three
while the 1962 months were i was contributed by export Viscount turbo-prop airliner, almost entirely neglected.
In
25 AIR FORCES
Other
aircraft made which have
Electric Canberra (more
than
Meteor
sales of aircraft-engines) tell which has earned £134 million
whole story of Britain's in foreign sales. The weekly weather report the
products, showed that
harvesting had success with aircraft
not include does been slowed up in many parts because it of the belt by rains and the royalty payments for the manu- under licence slow work of defoliation for facture abroad,
sold agreements, of British-designed Eritain machine picking,
ruccessfully oversens are the ancillary aircraft, engines and
English Grey goods continued slow equipment..
50 beraber, and easier. No export were There have been nearly
the Gloster million); reported today. Liverpool such
recent in agreements
fighter (£26 million); the de futures Anished 10 to 20 English years, with 14 countries, cover-
types of air- Havilland Vampire jet trainer, points lower-UPI.
ing elevon basic craft and 14 types of engines. which is in service with 25 air The total also does not include forces; and the de the value of all products sold Comet and averseas by the 574 companies airliners,
the brought in
Work on the construction of Singapore's second plant, a $85 million refinery at Tanjong Ber- layer on the west coast of Singapore Island, started lasting. month.
sub-
The refinery, which forms the first Japanese Investipent In the State, is bétné built by the Maruzen Toyo Oll Com-
(Singapore), A pany sidiary of the Toro Monks Kalsha Ltd. of Kölyö,and the Maruzen Oll Co. of Osaka. The first part of the project is expected to be complelbd by November, 1901, and the refinery will have an initial output of 20,000 barrels a day.
it will then be ubic to supply the Pasir Panjang power station with fuel dll. being situated right next door to the station.
The plant
full will begin operations in January 1862.
Both plants have been granted
by the Singa pkoncer status
pore Government.
Yesterday's Closing
Agreed merchant
rates
which
are members of
Havilland
Bristol Britannia
which have dich
more than £25,
SBAC, and exortiples of pro-million in export orders,
ducts not, ixluded are, under- carriages, flight refuelling equip-
The two main aircraft engine manufacturing companies in
Swiss Francs, Maximum Sell-mont gun-sights, parachutes, Britain, Rolls-Royce Ltd and, ejdelloh seats, Tuel tanks and Bristol-Siddeley Engines Lid, 75-3/10.
These have also playca a big part in equipment. aerodrome
have the post-World War II export and other manufactures earned Britdist - thang. more successes, Rolls-Royce, whose
West German Deutschemarks, Maximini Selling 72%.
Exchange rates
Bustress was done in the local unoficial exchange market this moming at the following rates:- U.S. dollar (per, #1) sterung Hotes (per £1) (NA Australian notes (per £1) ... Indonesian rupiah (per 100) Stam eziz (per 100) Singapore (Strait)
Unit trust
10.83 12.57
millions in overseas currency.
BEST-SELLER
Convoy engines are sized by the British Overseas Airways Cor- poration and many other air- lines In Boeing 7075, are the To give instances, the Dowty leading exporters with sales of Group of companies has ex- £138 million; while. Britol- ported undercarriages, Pumps, Siddeley, whose Orpheus jet 5.propellers and other equipment engine has been chosen to to 41 countries in sales amount power the North Atlantic Treaty 276 ing to more than £12 million; | Organisation light fighter, the Joseph Luens (Export) Ltd.. Fiat G.91, have had sälès abroad fuel systems have måde over- tölailing £45 mbilion, sets sales worth £8 million; Sales mean customers, and it Martin-Baker Aircraft Com-is intéresting to note who has
have pany Lid ejection seats
most buying so far brought in-£4,500,000; Ulten during 1980. In pircraft, Angch- Electronics Ltd. rescue and, tina, Switzerland and india all inter - communication equipepent more than £3 million on 25 million and Flight products from Britain during Réfueißng Ltd. 23 million.
20.20 1.00
First Hongkong Fund-
Buyer Price: Seller Price:
$1,01
ment
$1.07
COMMODITY PRICES
SUGAR
NEW YORK
Closing prices, all in cents per
Contract No. 4 (world)
16.:
JAN. Mar, May
July
Spot-F.A.S. Cuba)
Total Balon 64 contract
Open interest: 2,133 contracta
Contract No. 0 (domestio)
Nov..
Jan.
Mar
Spot C47. N.V..
Fall Sated; & Contra Open interest: 310
UFL. Bonn, Oct. 18.
Ah official West German communiqué sold tonight curront that, despite economic progross, any consideration of, revaluat
Deutschemark ing
the was "out of the question". The communiqua reported on talks Between German Chan- cellor Konrad- Adenauer, Foreign Affairs Minister
Von Brentano,
Shortedvering of November Henrich and some renowed interest in Economic Aftaura Mihister December one Rss kept prices|| Zudwig Erhard, Financo and Etzel throughout|| Minister quietly
Franz morning until afternonez,
President of the Federal Bank Karl Blessing. Lower sheets and off gradse wern neglheted and factories |roinálíkt "Walistérénted.
死
0,00
6.00
RUBBER
Oct. Nov,
Estate crept,
thin Oct.....
thick Oct.
279-2794
2011
24
AMSTERDAM
Closing prices all in guilders
per kilogram, c.lf. Nov,
No. 1 rubber
No, a rubber
No. 2 rubber
Ко, 1 стере
2.07 buyers
2.00 buyers
2.01 buyers
2.80 1.
UPI
COTTON
NEW YORK
METALS
NEW YORK Clczing prices, all in cents per ib.:
Lead Del. Dee.
Zinc Oct,
Dec.
Copper Out.
Dec.
11.35
LONDON Closing prices, all in sterling per long ton:
Spot Closing prices all in cents per
contracte.
jb.:
Spot
Dec
Mor.
May
Juty
Oct
Dec.
May
July
closing
NEW YORK Rex rubber, futures prices. all i cents per b
32.00
31,90
done the
ffle Arst live months of this year; while the United States spent more than £7 million on Canada aircraft engines and and France spent more then
£3 million.IPS.
Electronics cut booking delays
An electronic soat booking systém, to be installed next year by Bodé at Lon- dah Ali Terminui, will greatly reduce delays in Reserving outs on aircraft. These delays are aggra- voted becauso, on average, every occupied seat, is booked, and then, can- called, three times before the flight leaves.
The electronic seat avoli- ability system will be installed Buyers Bellors Boac's reservatione Branch,
7982 S1ndard Telephones and Cables
Ltd., of Newport, Mon.
God
B0755 at Airways
Dermint by
790
221.
22234
Tin
simonth
Copper
312 31.710
Sput
3.moath Zine. 2nd Half Oct.
Land zed half oct...
Jan.
T
Jan.
-UPI.
NEW ORLEANS Closing prices all in cents per
·REBRASKARA
- Mo
har,
May
July
31,10
Sept.
July
SINGAPORE
all in Straita Closing prices cents per lb. t.o.b. Maláýdn börth:
May
No. 1 Nov.
No. 1 Dec
Noa Nov
Ho, à Now,
NO. 4 Nov.
-00
LIVERPOO "rostog piles, all in penco per 16:
American Donitso Oot,
20.00
· 13.30 ·
Epos rubber. unhaled Blanket orge, No. 1 be
Their talks, the cornfurtique eski, concerned, the need and means to stabilia the German economic altuation, and to Prices droppat slightly in prevent price Incrediocrisy earlier part of the aftermotivere unanimous, however,
edit with thin finding,
agreeing that diveusalan of
eviluating to mark was out per lb: of the questibel,
At lower levels mord buyote ents in and prices recovered to BSW at which lavdi they stayed tahmadh búnt ye tija, kkiärrigoir."
Closed qui
problem of BadiKHADE with, which das mich Jann dayaNGI 'nations-mėTEL.
Closing prices all, in pence
FOREIGN EXCHANGE
NEW YORK Closing; rates: Canada England omelal
**
30-days
Austraila New Zeisbel Bouth Arden tagum Denmark France W. Germany 2761land NOTWAY S
Bwilberland India
It will Handla att confitions of 5 seat variability' ori
05%
CB3L
Boan'a flights out at or into. London. Tile current status on "all thoro fight together with thoae, of Joint. operators and feeder dir
will be stored on two magnetje storie drums, and the associated equipment WIL matoly visa alla shobi od télaphámé salés “polata 10 The Uns and the main cities là Biropé with direct access to this information,
The new stem will be in stalled in Airways. Terminal in Bátyan | July, 1901, and the service will bo "remoted to gll other sales
ult in uneth by Ju
0 selected, continental poinle Mich as Romé and Prank- fut by Outbery atk 17 ketogyni
bne novantage of the', bratem". vill bo lite ability to put bable sanctióni semla forƐnctivà nože SE.
• soon...ng, cancellations" are nail- ned. At the moment up to 24
European pine points/sk/PE
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