THE CHINA MAIL, THURSDAY, OCTOBER 27, 1960.
A GIANT CARRIES ON
Great mining firm increases output in troubled Congo
By ALEXANDER THOMSON.
Brussels, Oct. 26.
A Congolese stood impassively by the lifts as I walked into
Union Miniere headquarters.
LONDON STOCKS DECLINE
I had called to get an on-the- spot report on how this great International mining concern
had come out of this year's Congo ure-p ̧
J A glant anong giants, a.large slice of its shares is held by tarilish inventors.
Sir Ulick Alexander and the Earl of Selbourne are mang
Its directory.
An onlelal told me: “Every- thing is going on at our mines ay if nothing had happened. Production of copper and other minerats will be higher this
London, Oct. 26, Industrial stocks ran mostly lower today 09 buyers favoured the sidelines in an unsettled market. Metricnis showed some im-after provement at steels, engineer- Independence ings, motors and textiles shared the lower trend.
ม!!
the
Gold stocks declined h morning due to a lower price quoted for the metal but buyers luter to notch small
returned
gains for the group.
Covernment buntis maintain- ed their advance under the an teipation that a bunk rate cut was imminent.
stocks
Dollar
were lower.
Olls and leas drifted down- vartis
while rubbers held Kleindly.-UPI.
Closing prices
British Government Securities
Consolidated-£46.
Conversion-00-1/18.
245
3. Saying 1955/65-RD-7/10, 36. Savings 1900/70-18-1/16. 36. Savings 1963/75-£71-11/10.
Папия Issurance Barclays Ord-08 d. Chartered Bank-Bus 66. Itongkong Bank-£571d Lloyds Bank-13 3. Union Insurance-7 d.
OK Bar O-300fd. Royal Dutch-£11-9/10.
Engineering
Babouck & Witrox On-G United Steel-024 6d.
Vickers Ord-3 d.
Industrial
Assoc, Elec, Industries-46, Arsac Portland Cement-28 d
Gris 60.
Beardman, Mar-154 44d.
British Mestar
Conte (J. & P. Ord-3.
Courlands Ord-51.
De La Re Orit--0)1 4d. Dunlop Rubber Ord-23 1490. Fire. Mus. Industries 44% od. Ford Motor - 11⁄2d.
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
WALL STREET RECORDS
BIG GAINS OVER NEARLY EVERY GROUP
7
New York, Oct. 26.
Stocks scored their best gains in nearly a month today to wipe out a sub-
stantial portion of the losses incurred on Monday and Tuesday,
Electrories moved up strong- ly icaturing Fairs of around in Texas Instruments and IBA and 2 or more in others of the ahead as Stecis were group. much as 2 y Lutkens. Motors As much as 13% in Ford and chemicals well over 2 in Easi- man Kodak and bide.
4154
lly
Lockheed Aircraft
Loews Incorp. ... Lone Star Cement Co. Lorillard P........ Lowenstein & Sona MeDemmelt J, Ray MoDonnett Aircraft
Iron Corp. Monsanto Chemical Montgomery Ward Union Chr-Motorola Inc.
Rall stocks had one of their better days with Santa Fe up around and Norfolk and Western and C and O 1% each.
Virtually every group vealed o
spreed of strong - fward moves with the exception gold shares which re- lower reaction to in
Business done at the Hong-of the kong Stock Exchange this morn-coded ing amounted to approximately metal prices in London.
Dow Jones dosing overages.
$1,770,000. Noon quotations and the morning's transactions:
your than it was lost,
"We had a few disturbances The Congo was Riven but they were never more than minor ones.
then "With us the worst of
And Unkn insted only eight days, even then there was no damage Waterbat
any of our properties."
5 BIG MINES
The
Wheeluck
BK Duck
.
Belen
33. g 1320 201310
200 in 30
2300 14 7.95
103 [07 300 10
Ch. Prov... 21.40
Union Miniere concern operates live big mines in the
NUK AS province of Kalanga where it employs 2,000 20,000 Congolese,
Europeans
and
It produces eight per cent of the world's copper and about 50 per cent of its cobalt, a mineral used to toughen steel for bulid. ing jet engines and the like.
שון
2001
$300 - 2140
233 21.30
Closing prices
200 101 314 3174 500 H 31%
200 311 23.36 231% 2000 22.30 Amer. & Fogn. Power
1000 23.40 Am. Gas & Electrie 2000 23.40 An, Home Prod.
18223.30 Am. Maen, & Fury
23.30 American Metsi
National Biscuit Co.
National Cash he "A Natiomi Dalry Prot. National Lead National Steel Corp.
Oll Mathieson ots Elevatora
Republic Steet
Kleem Mfg
Cut in UK bank rate expected
London, Oct. 26. reduction in Britain's bank rate in the near future
tonight garded
certain financial circles here.
Was
Os
10-
in
FORTATION
British, Russian airlines sign
pool
agreement
London, Oct. 26.
British European Airways and the Russian airline, Aeroflot, have signed an agree- ment to pool their London-Moscow services, it was stated here today.
The
agreement, signed la Moscow, is the first of its kind signed by The Russians while a Westera airline,
A pool agreement means that the airlines split the revenue on a pooled route in a predetermin- ed ratió.
BEA and Aeroflot now operate two return services a week to Moscow.
From next May, each air- line will operate three return Some sources said the bank 99% rate-key
to the
servlets a week. nation's interest rates may be
A BEA reduced
spokesman sald total bookings for tomorrow from six per cent to BEA's
Moscow next year were already Ave and a half per cent.
Other
approaching 2.000.
The British airline
comet airliners apcrate Auroflot would continue from its big T.U. 194's-Reuters 61, five to six per cent four months ¦
1
quarters said the a change was more likely to come
next week.
3214
404
32%
FIRST STEP.
Bank rate was raised
New system
keeps a clean ship
A battle of bursting bubbles is being waged and won against natura through the ingenuity of a U.K. morine engineer- ing firm.
Millions of bursting bubbles are being used as a weapon to fight the costly war agains! marine organisms which attach, would themselves to the hulls of ships and and can reduce their efficiency. with
New high speed
N.
New York Central"] Noranda Mines Ltd. Norfolk & Western Ry. North Amer. Aviation Northwest Airliner (Com.) Oklahoma Nal. Gat
1542
01
Owen-Illinois Glass
Ostoru Pazer Co,.
#31% 2310
Preific Gas the.
Pan American Almvova
1792
Puramount Pictures
B122
Parke Davis Co
Shares
11 Bank.. Lumbund
Buyers Bollers 1303 1315
30. Industrials
576.18
Penny J. C. Co.
40
20 Rails
124.61
Penn. Salt Co.
25%
Phillp. Morris
6974
15 Ulties
81.77
Piney Bowes
31
200
127
120 10 129 27.00
65. Stocks
102.22
Procter & Gamble Co.
12374
$4.43
Publicker Industries
40 Bonds
Pullinan
700
7.85 11000 7.00
Comm.
future
price
143.89
Pure Oil .....
Index
Radio Corporation
Radio Corp. Prof.
Taytheon
归 600 21.30
Reynuids Tobacco
BI
Abitibi Pwr. & Taper
$371
Royal Bank of Canada
6711
ago.
Butel
4114
42
Algoma Steel Corp.
31
| Royal Dutch
331
Its
40
Land 2. 199
2401 0
Allied Chemienia
13
All Chalmers
2:24
Sears, Roebuck
Yaumati
101
Am. Brake Shoe
30.
Safeway Stores
349
HK Tram Ch. Light
Auters Cyanamid Co.
Am. Cable & Radio Curp.
Bla
Saint Reg. Paper
3114
42
Scheniny Inc.
20
70%
Scott Paper
60
A
Siegler Corp.
251
160
GT
Sinclair Oil.
Bmith, Kline & French
43
213%
Socony Mobil Ou
South Puerto Rico Sugar
401%
reduction would be interpreted as the first positive step to case "credit squeeze restrictions introduced months ago. These included controls on Instalment buying and the calling in of "special deposits" from the banks to | A Häxa curb the growth of lending to
1414
the public.-Reuter.
six
Southern Co. (The)
Am. Sugar Ret.
2044
Southern Natural Gas
American T & Tel
50%
Southern Pacific Co.
10%
62
21
Sperry Rand ...
18'
4214
Standard Brands
437%
Standard all of Cel.
4392
002
50 1000 or SING
Armor Corp...
319
Standard Oil of Ind
3022
Standati OI! at NJ.
JUZ/
23
Steel Co. of Canada
04%
Baltimore & Only
257
Rock
63
Bank of Montreal
Bank of Nova Scotiu
GT
Webster
43.
Studebaker-Packard Corp.
Berch Life Savers
BC. Tel. Co.
$1
Sunshine Mining
4072
Swim & Co.
44
2015
Texas Co.
114
Textron Ine,
401
Thinkel Chem.
201
Tide Water Ol
any
234 Thine Inc.
2734 Travelers Inc.
3.70 3.80 705 €219. 43 2000 ( Ca
600 624 1.80 1.876 1060 à 185
2000. 1475 15.10.20 5100 15
103 14.10
31
Tel-Cont. Warrants
201
42
Twentieth Century Fox Film
361
Union Carbide
10822
5214
Union Of of Cal
701%
Union Pacific Railway
Canoetas Padie R.
20
Cat, Tractor
મન ૧૨
United Aircraft
United Fruit
22
Celanese Corp.
United Gas Cory,
C1 Financial Corp
JOTE
U.S. Gypsum
Chase Manhat. Dank
58
US Rubber
Chrysler Motors
4234
U.S. Smelting
Chuett Peabody
55$4
US. Slee!..
Colgate-PahnoLive Co.
21
Colombian Carbon Co.
47
Commerest Credit
67
Coming Class Works
pers Elec. in Tels.
450
3512 233 234 2012 As Natural Gas
20.30
10.30
2000 2515
100 or 35%
25.1
500 351
200131.
300 19.30
11 10 mines about 25 cent of the world's germanium. This is
key material for mak-: Ing transistors, the tiny valves that go into radios and com-
< Tole. puters.
Rights How does the company see G.. Cement 55 the outlook?
Datry Fann 314 311⁄2 4500 3
Watson... 28.00 29.40 1000 4 28.70 1000 20.80 1500 20
1250 8.70 4000 Ra 1260
are
I was told: "We believe we over the summit of our troubles if that is expression to use.
There
small
the right
Allled Textile
Inv. 5.30
874 0.00
may be a few more disturbances: iri
100
22200 63112
0248.70
northern part of Katanga where Nanyang 14.30 14.70 3000 or 3435
Amaubber some of the tribes are hostile to. XD Mr Tshombe, the
Trust breakaway Rub.
Talkoo premier.
"But none of the possible Realty trouble
spots is within nites of any of our mines."
Union Miniere has of course been lucky in having all its pro- Orperties in Katanga where strong-man Tshombe quickly took control,
"3d.
General Electric de fit. Giman (Holdings) Great Universal Ord--30% 13.
Vett
Hawker Siddeley -
pastal Chemical Ord-7)s Marka & Spencer "A"
Koth-Noyce-431. Standard-Trap 16154 Unilever Ord-1487 Woolworth Ord.
Miner
De Beers Del-150 750. Petaling Tin-7x160. Union Corporation
Miscellaneous
Baunaker Ord-s 714 Canadian Pacific Ord- Itongkutty& Chide Ga-10%.
P. Q. Steam Nav. Def. 10.
--Router.
OFFICIAL NOTICE
Proposal to change a Ship's name
INDEPENDENCE
Independence there seems to be proceeding along lines that the Belgian government
ind plamed for the Congo as a whole.
The Dellans are carrying on with their jobs although as a precaution most luve sent their wives and fumilies either into Rhodesia or back home.
And the Congolese are being trained gradually to take over more responsible posts,
HX Gas
K. & F.E. tw. 13.80 15.30 Gilinan... 20.75 121 25 Humphreys 24.10 2412 Star Ferry 174
Marco Elec Laric Craw
Entertain.
Vibro
ང་
170
12
2015
14.00
London_gold
price eases
American Snelting
American Tub,
Apex
Autenda Coppor Armco Steel
Bell Telephone Beneficial Finance
Benguet Cons
Bethlehem Stre)
Borden (The) Co. ..................
Burroughs Add Machine
British Amer, Oil
British Conimbia Elec. British Columbia Pur. Calif, Packing Corp. Cano. Bk, of Comm. Campbell Soup Ch.
Consolidate Edison
Consolidated Paper
Consumer Ges
Continental Con
Continental Off of Del.
Creole Pet
Crown Zellerbach
Delaware & Hudson Co.
Diamond Alkali
Distillern-Seopranta
Dominion Store
Dougins Alteraft
Dow Chemlesi
Dupont de Nemours
Eastman Kodek
El Pomo Natural Gas Family Finance Corp.
Ferro Corp
First Nat. City Bank Ford Motor Co. of Cann. Georgio Fecifie General Dynamics
London, Oct. 26. The speculative gold bubble on the London bullion market developed a slight leak today. Price gold at the business
was ($35.75) an ounce.
This was down 4 hillings Great Northern Railway (50 cents) from the prley fixed dulf Oil m
250
General Metric General Foods close of General Motors
Gen. Put. Vi shillings Gen. Tel. & Elec
Gen. Tyre & Stabber Glidden Co.... Gondyear Tyre
What is Union Miniore's reiR- 1, WONG FOO YUAN of
tionship with Mr Tshombe?' 18 Broom Road, Happy
"Very good," the official said. Valley, Hong Kong, hereby
Has Mr Tshombe any thought thot give notice
i con of nationalising the company's sequence of change of owner; mines?
"None that we know of." ship, and transfer of Port of
Indeed the Ananelal set-up of Registry from London to Union Minlere in the Congo Hong Kong, 'have applied to should help to preserve it from the Minister of Transport any such threats. under Section 47 of the Mer- of 18.1 per cent of its shares is I learned today that block chant Shipping Act. 1894, in held on behalf of Congo state. respect of the British ship it will be a matter for arga-stallings ($40,50) "STANREALM" of LONDON ment now as to who collects the speculative buying out week.
dividends,
REGISTRY Oficial Number government 169904 Gross tonnage 7001.68 Kalanga, tonk Register tonnage 4941.83
the
| Hammond Organ'.. ut the opening and to shillings Heren Newpert Corp. ing pilet. ($1.40) below tast ught's clos-Birem Walker,
The price hit a peak of 200 in frenzied
Leopoldvill The official U.S. Treasury price
breakaway or
In addition there is at stake the company's exports and other totallea
tons, heretofore owned by taxes which fast year Stanhope Stenmahip Company inero than £17 million.
Limited of London, for peri
mission to change her namo to "FORTUNE LORY" and tu have her registered in the name at the Port of new HONG KONG as owned by LIBERTY Shipping Company. Limited (URT2U) Hong Koni.
is $35.01 an mince-AP.
Rubber price declines
It Mr Thornbo geis klɛ way đá the money-ha will surely wish to see alon Miniere slaying well ruh, and prosperous. In the meantime she company tells me that this year's output of copper, its Singapore market yesterday main revenue (earner, should | dropped to its lowest leveln since top 300,000 tarts,"
Singapore, Oct. 27, The price of rubber on the
June of last year. The market cloood at 02 cont Motoyon
This goes agaidat 200,000 tons per pound.
Any objection to the pro- posed change of name must he went to the REGISTRAR OF SHIPPING at HONG KONG within SEVEN days too, from the appearance of this advertisement.
Dated at HONG KONG the 20th day of October, 1980,
LIBERTY. SHIPPING COMPANY, LIMITED. * (AILA***24)
WONG FOO YUAN,
Director,
been
In 1989 and allows for a 10 per The price of rubber on the cent cut in production in line i Singapore market has with other world copper slants, steadily declining over the otst We have seen that they have overal mantle following,
a good half-year and Union ring high when it was relling Miniere should have done well
for 142 Cento (Malayan) per pound..........UPI. Of course, it still politeal untertainties
face, Mr Tahombe I gallier hár people in his government who do not. always accept his point of view.
ها
But the impression 1. ght here today is that with its Angara crossed, Unlon Miniere is now facing the future a good deal more hopefully.
Certainly more
hopefully then the big fall in its, sharen suggests.
Agreed merchant rates
Agreed Merchant Rates:
Rusman Refrly. Adaho Power Imperial Ol Imperial Tobacco Ingersoll-funct
inlond Steel Co.
interchemical Corp
Inft Business Machines
Int Harvester
International Nice!
Int' Tel & Tel
Kalier Industries
Kanne C. Power & Light'
Kranerol Comper
Kimberly Clark
Liaveit & Myers Tab. Co...
30
w1
31
US. Stemi ↑ P.C. PF Warner Bros...... Westinghouse Air Brake Westinghouse Electric Western Union Tel. Co West Va. Puin & Paper Winn-Dixie Staren
7412
Wentworth (K. W.) Zenith Radio
U.S. gold stock
Washington, Oct. 26. United States gold stock last Thursday declined by only $144,394 worth, the Treasury Department re- ported today in its state- ment for that Thursday,
October 20 was the day the big rice was noted in the price of gold on the London gold amrike,
Exchange rates
Bones was done in unofficial exchange
the Ideal market Uhia morning at the following rates: U.S. dollar (per $1) Sterling notes (per 1) 622) Australian notes (per il
Indonesian Rupiah (per 1033 799%, † Stamm degls (per 100
10% Singapore (Strails)
40
21
46
31
60%
102
Yesterday's Closing
Unit trust
First Hong Kong Fund,
Buyer Price: $0.99.
Salier Price: $1.05.
Crude oil
runabout
of
A new system devised by the frm, in the North of England. hus proved that the und water Lull of a ship without cathodie protection cash be kept free from
corrosion for fouling and minimum period of 18 months without the necessity of dry- docking for huil maintenance.
Called the "Anto" system,
by
of
is an entirely new concept for preventing Youling of under-
structure
marine 13-ft. outboard water new
is de organisms, and compilaes two runabout which
basic clements: fira! Loxin signed for high par- CW60B and second, an appliance formance
with maxi- for its dispersal on the under- mum degree safety water structure.
toxle The
properties has been introduced by cwe will destroy or deter all species of fouling organisms, in- cluding bacteria.
The basic "Anfo" unit Is operated
from a conveniently situated control panel within the ship's structure and consists of a compressor, adjustable in- jector
and atomising pump nozzle. Immediately the system is operated, the compressor sup-
required capacity of p's the
main distribution air into the Unes
motor-driven which the Injector pump, being fed from a
a U.K. firm.
Made from glass-fibre rein- 5.07❘ forced polyester resin it has 15.07 built-in buoyancy and, when 12lted with a 45 p.h, outboard 20.15 motor, is capable of speeds up to
30 m...
1,60
The craft will comfortably ac- commodate four adults, and can be trolled behind a small car without difficulty. Out of sca~ son. It can easily be stored in an average size garage and, being of reinforced resin construction, is
and needs little
tenance.
rc-
completely weather resistant gravity tank, delivers a
or no main-ulated flow of solution through The stomising nozzle to atrive The performance of the craft in the main distributing line in state to combine a vaporised is such that it has already en-
with the air, jayed many successes in the
The toxic vapour evolved racing fold in the U.K, and is
passes to a manifold above the
Washington, Oct. 28. White House press secretary entered in all the major racing ank top where it is distributed James C. Hagerty sald today events
this season. Included he had "no knowledge" of any among the
to four specially designed small numerous trophies
omission impending reduction in govern-lready gained
tubes 82% ment
is the Regentere P.V.C. quotes on imports
of Grand Prix Challenge Trophy-outside the hull. Regulating nip- crude ell and semi-finished where it was placed frst in an
ples on the emission tubes en- petroleum products.-UPI.
Mire an even International field of 50 boats.
dispersal of the toxic vapour along the length of the hull. Final emission from the lubes is in the form of bub- bles that rise around the buil With this latest system, which has no magnetic Reld to help adherence, preferential wetting of the hull has been introduced; a Alm of water which normally pieces itself between the hull and the compound is removed by a chemical addiUys thereby encouraging adhesion and simulating the action of the Lexin on the underwater growths,
COMMODITY PRICES
RUBBER
NEW YORK
July
LIVERPOOL
១៨
1b.;
SUGAR
NEW YORK
Closing prices all in cents per
Contract No. 4 (world)
Rex rubber futures prices, all in cents per lb.
closing
Closing prices alt in pence per. lb.;
Nov,
Jan,
32.70 33.70
American Contract
Oket.
22.08
Jan..
Mar
21.40
Des.
Mar.
225 3.12
May
3120
Mar.
May
3.12
July
11.00
May
23.30
July
3.13
Sept
30,00
July
22.45
Spot (FAS, Cuba
3.25
LONDON
Total Sales: 2 contraciI,
Mixed Contrack
Open interest: 1,901 ccntirasta.
Closing prices all in poncu por
23.30
Contract No. 6 (domosifo)
ib.:
Dec.
Jan.
0.00
Bettlement house terms, Oel/Des
Mar.
Mac.
5.30
203-204
May
Jan./Mar
Boot--(Cứ NY ex-duty) 6.06 Total Bates: none.
Apr/June.
July/Sept
2011-27 20-27
Nov.
201-27
Dec.
Eslate crepe tiln
Nov
281
LUTI
General markets, c.lf. boski, parte:
flišek Nov.
COTTON
July
-UPL
METALS
NEW YORK
Closing prices, all in cents per
lb.:
Lead
Oct,
Dec.
Zine
NEW YORK
Oc
Closing prices ali In cents
Dec
Copper
per lb;
Spot
Dee.
Mar
May
July
OoL
The Treasury Department staled that gold stocks helt by totalled the US, on that date 030,895,245 ounces valued at $10,031,333,870. 'This was decrense of 4.120 Dz Worth
Dec.
Mar
May
July
NEW ORLEANS
Closing
2883=38292
prices mi In cents
Spot oz Worth
Swiss France. Maximura || $144,394 from the October 18 16.;. Selling 75-1/16.
stocks of $30,000,370 Belgian ·Pränat, · Maximum | 510,581,477,904, (se China Selling 268.
Special
101)
LONDON
As the system is operated from within the ship, it is possi- ble for the ship's personnel to raclntain indefinitely a complete control over the underwater condition of the hull without incurring the heavy costs that have been involved in the past by frequent dry-docking for the purpose of hill clapning and applying anti-fouling paints,
By using the system ships are provided with a clean mill st all times. There is no need
for harsh scraping to remove fouling, a practice that frequent.
Open interest: 182 contracta---UPI, į ly damages the underlying
FOREIGN
EXCHANGE
official
30-daya
NEW YORK Closing ratosi
10.23 10.00
Canada
England
11.24
11.04
po-days
Australia
21.68
New Zealand
27.74
Bouth Africa
primer-LFS
Big exports of UK plane engines
London, Oct. 26.
1.023/10 Britain's aircraft industry
2.0130
2.8010
21.0000
1.8030
20170
Othery unchanged.,
LORDON Closing rates: Closing prices, ail in sterling New York
................ #81 2/10-261 3/10 per long lon..
Montreal
2.14 16/16-275 1/16 Buyers Bellere | Ansäterdam
10.30-10.07TY
Tia spot -month Copper #pot
-month
22014
Zine and if
Oct Jen,
1 Drumele
.799/5 | Copenhagen
219 nkfurt
2203% | Lisbon
Oslo
IT
PARK
Milan
#15 Bitockholm
99.30-30 20.013
exported goods worth Over £108,280,000 during the first nine months of this year, the Society of British Aircraft Construc-
fors said here today, This represented an aonyol rate of about £140 million for
the year.
"The Society said that the Aero-engine export figure for the first nine months of this | year-more than £34,900,000
toxceeded handsomely" Evory antiual aircraft engine: export sgtire since the war, with exception of just year's record
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