1960-11-03 — Page 2

THE CHINA MAIL, THURSDAY, NOVEMBER 3, 1960.

METAL FIRM SPREADS OUT

HONGKONG STOCK EXCHANGE

by

Nur Own Correspravde ni

at the Hong-

Business done kong Stock Exchange this morning amounted to approxi- mately $2,480,000. Neon quota- tions and the morning's trans wellons:

Bhares Buyers Sellers Salce

21 Link . 1810 1320 80 1318 130 1315

1.outhard...

* Unlun Jas.

41

124 127 200 125 234

BIG 17006

Ex. Div.

Wharf Co

Wherlock

11.05

IK Duck

107 108

Provident 12140 2170

HK Hotel * 421 4214

JIK Lond

Yaumati

Rts.

HK Tram

Ch.

Light

IK Elec...

:

43800 13.03 $9000.05

100 64 4213

03 035

12003

102

103

300 101

300 103

30 105

801

87

3124

50 103

100 N 102 500 30

100 3%

500313 100 32 200 21.00 1500 18 23.80 208 ja 23.80 166 v 29.80

24 24.20

*

20.60

- JK Tel. 3. 361.

||

It

CA Cement GB 50'

2200 or 24.0G

21440 or 24

24.10

Remarkable rise of brass rod manufacturers

By Alexander Thomson

(Often the health of individual firmus gives a clue to the economic · health of a nation. Here Alexander Thomson talks to the head of a firm intimately involved in Britain's economy.} London, Nov. 2. "Our kettle is still on the boil.” That is what Mr William Ogden says of his £25 million Delta Metal Company of East Greenwich, It is a remarkable concern. In seven years its profits have climbed "from £988,000 to £2,879,000.

And for this year, so Ogden tells me, he hopes they will be nearer the £3,500,000 line.

At 63, he is a combination of necountant and industrialist und has been the main driving force behind this expansion.

Delta's brend and butter is making brass rods which 查 1000 v 24.10 | supplies to just about every in-

210 28.30 dustry there is,

1900 23.40

1500 1500

AG 100 30

100 20

230185

750 30.40

1930 19

Dairy Farm 31, Watson

501

300 30

...

20 K

Ailant

Title Nanyan

6.15 1.60 8.00

$50 201

29.70

1009

3500 30

5500 in 20

1000 ₪ 0

3000 3.85 14% 14.60 2000 la 14.00

Amat. 2. 3.40

kub, Trust

Ex Div.

733

Talkoo Book

Heyy

HK Gus

JK & F..

iny.

Itiner

..

3

1065--1414

2000 + 143%

3000 1400X)

04 0415 450 4

1.05

1

.. 14. 15.10 540 10

Brass is a combination of cop- per and zive. And if you do not actually see much of it about nowadays It is there all the same,

TAPS

Chromium taps in your bath- room are probably made of brass. So are many of the glistening fittings OR inotor

enrs.

In one form or another it Ands its way Into everything from airplanes to nuclear power plants,

550 7.36 3010 3.40

Says Ogden: "Although there 1.80.50350 « 1.ris is a whiff of recession here and there. I tam si optimistic. I think our present rate of 2000 r 141 activity will continue."

By this he 'means new pro- Jecis for streamlining the metal alloy business in which Delta plays a big port.

14.40 14.30 1500 14,30

Int'l Inv.

U 1,00 2.10 2.426

Gilman

Humphreys 94.39 214

Star Ferry Maco Elec.

Lane, Crow

Vibro

172

**7

40% 4194 26.70

200 is 23

GO 22,80

He explains: It is all part of set plan. There is still too much duplication of plant, effort and organisation.

"It is much better to have a string of factorles under one control. Then each of them can concentrate more efficiently on particular jobs."

In the past month, Ogden has made one take-over bid and he anys that talks pre "In an vanced state" for another.

ad-

is

In making bids his policy always the same, They must be good businesses with good plants and above all good ments.

never

monage-

gains

Wall Street

in spite of

profit-taking

New York, Nov. 2.

Stocks achieved their third successive rise today despite profit-taking that

clipped gains in many issues.

LONDON

GAINS

SOME

GROUND

make a take-Stock **We over offer," he says, "unless directors of the company which we wish to buy are 100 per cent in favour.

Oli stocks remained Good throughout the day with Barber ahead around 3 Continental more than 2. Most electronics added fractions but ended well below their highs.

Armco gained a point or more In the steels. Chrysler as much as in the motors where Forti lost a small fraction, Valon Carbide rose around 3 in the chemicals and Procter and Gomble well over 3 in its group. The last two nomed contribui- ed significantly to the gain in the Dow Jones Industrial aver- age which repeated once again its

backing performance of down as it neared the 800 level,

Closing prices

"And then we go into hoping to pick up potential leaders for our group."

It

London, Nov. 2. prices closed irregu- larly higher today

come late buying the market on

news of higher October gold and dollar reserves.

| Abubi Pwr, & Paper

as

Algoma Steel Corp.

Allfed Mills Inc.

into

Am. Brake Shoe

Most

Industrials carved out

shares ended

The policy has worked won- ders. With increasing success test rises. But engineering

and electrical Delta Metal has spread out from mixed." East Greenwich to "the Mid- lands,

י.

Despite 'improved October Now it is going on up Lanen-profits, helped by the higher shire. It is building a £1 million free-market price of gold, South plant at St Helen's which should African mining shares showed be ready towards the

of little movement. Coppers were end next year.

dull.

Ogden's biggest deal was the taking over of James Booth Aluminium business and then

the linking it with powerful

Aluminium Kaiser

and Corporation Chemical America.

ROLLING MILL

In a

new

issues eased.

Oils finished firm and rubber

were

Gilt-edged securities mostly unchanged. Dollar stocks were higher in sympathy with the overnight showing on Wall of Street--UPI.

The Hongkong & Yaumati Ferry Co., Ltd. Kaiser is putting up £6 million.

WINTER TIMETABLE

In force on and after 6th November, 1960

CHEUNG CHAU FERRY SERVICE

1.eaving HONGKONG tor

Leaving Cheung ChaŬ for HONGKONG

4.00 D. (Vla Aberdeen to

Wilmer St.)

(V S.M., & Peng ChaⱭ} ibalreet)

Via S.M.B. & Peng Chau) (Direct)

Via 5.M.B. & Peng Chau) (Direct) (Direct)

CHEUNG "CHAU,

6.10 am. (Direct)

8.5

1.45.. (Via Peng Chau & S,M.B.)

(Direct)

0,40

11,00

(Via Feng Chou & S.M.B.)

710

10.00

11.00

(Direct)

$,00

M

(Via Peng Chau & S.MB.)

10.15

11.30

Direct from Wilmer St.)

1.00

1200 Noon (Direct)

1,30 p.n. (Direct)

1.30 p.in

1,45

*+

(Vin Peng Chau & S.M.B.)

1.30

•

(Direct)

..

4.00

Via Peng Chau & S.M.3.)

5,00

Vio Aberdeen front

4.15

Witmer $1.1

3.35

0.45

(Via Peng Chan & S.M.B.)

8,00

(Vin 6.M.B. & Peng Chau) (Direct)***

6.00

(Direct)

1,20

Va Peng Clanu & S,M.E,)

H.CX

++

(Direct)

0.20

(Via S.M.B. & l'eng Chaus (Direct) (Direct)

UK partnership,

for building an aluminium roll- i ing mill here.

"It will be the biggest and best in Western Europe," WB- llam Ogden declares proudly. Completion date? Also about the end of next year.

This was his reply to deals that have brought other U.S. aturniniarn giants to Britain. We are forging ahead," he says. In South Africa, Delta tas made another partnership pact —for its brass business this úme |—with the big McKechnie firm

Via S.M.a, & Peng Chau) Dimel to Wilmer St.) there. (Via S.M.B. Peng Chau) (Direct)

SILVERMINE BAY FERRY SERVICE

1.eaving HONGKONG for SILVERMINE BAY

Beat Chau

8.16 am. Vis Pong Chauj

9.00

20.15

11.00

(via Phng Chau)

Leaving SD.VERMINE DAY for HONGKONG

1.20 am, Via Peng Cau) 9,30 14 (Via Pens Chau

Via Peny CIAU)

11.40

130 p.m. (Direct) 8.15

4.15

5.45

(Via Peng Chauj vua Peng Chau) ¡Via Peni Chaut (Via Peng Chauj

PENG CHAU FERRY SERVICE

+

(Direct)

145 pm

(Via Peng Chan)

4,00

645

IN

ivia Pchik Chau)

Via Peng Chauj

7.20

ika re Cui

Leaving HONGKONG for

FENO CHAI

0.45 ..

9.00

1100

1,435 ĐT

4,00

1,45

7.20

Į Leaving PENG CHAU for

HONGKONG

7,45 a.m.

0.55

12.05 faith

2.30

4.40

6.30

8.20

* For Sundays and Public Holidays only.

TAI O -- CASTLE PEAK FERRY SERVICE

LAATINE HONGKONG

Tangkong

Kap Sul Mun

Cung Chuck

Castle Peak

Arriving Tai ...

| Leaving TAI O

2.00 pm. Tat 0

1,00

Tung Chin

L

Castle Prak

4,30

Kap Sul Mun...

F30

800

1.30

Arriving Hongkong ...... 10.30

TAI O SPECIAL FERRY (VIA ÅBERDEEN)

Leaving HONGKONG for

TAI O

Leaving TAI □ for

HONGKONG 4.00 p.m.

EXCURSION FERRY TO TAI O

And in Australia it is evidently lining up something else, Managing director, Walter Dolton, is there now. But at this stage Ogden is not saying what he is after.

I came away impressed by Mr William Ogden. Even if his "kettie" does go off the boll you may be sure it will still simmer bustly-Londan Express Ser-

vice.

Rubber market review

Singapore, Nov. 2. 2.00am There was some good trade buying in the early after- noon which took prices to high of 89% cents for November No. 1 Res. Thereafter mild Auctuations took prices down to 602 cents and then back again to the highest level of the day until the market closed.

3,00 am.

Leaving dally except Mondaya, Wednesdays and Fridays, The excursion ferry will also sail on Public Holidays. Leaving HONGKONG... 8:00 am. Leaving TAI O

(Calling at Tung Chung)

100 p.m. (calling at Tung Chung) TOLO HARBOUR FERRY SERVICE

Leaving TAPPO KAU for TAP MUN Į Leasing TAP MUN for TAIPO KAU

6.30 6.m. (Direct)

On Sundays only this

* ferry "will save it 7,45

om.

2.30 p.m. Shap Bre Heung.

Sham Chung, Lai Ché Chong, Tal Tan, Chik Kang" & Ilmu Lau Wan):

800 9.12 (Vis Kay Lou Wan, Chille

koner, Tai Tan, til.

Chenh tham chuc na Bhag Ure Houng),,

(On Sundays only this * korry "will leave at 9:30

(D,11.)

1.30 9.1 (Direct)

TSUEN WAN -- TSING YI FERRY SERVICE

Leaving HONGKONG for

TRUEN WAN via THING VI

'0.30 0.377 — 21.00 0.

Every

19.00 2001-

(very hour)

p.m.

4.00 pm-700 p.m.

{very, 16 hour)

*100 pan. - 30.00 13 271.

(very hanur)

'ATE_SKIEN EStry, ježu lokie Tring Vi for Trund Wan Mi 900 mơm, qu

Leaving TatỂN WAN för HONGKONO vis THING TI

9.30

TL ** 12.03 BAT,

PHOP)

13.00 3.00p.m.

(Every honu

4:00 pm 7,00 m.

1.00p.m.-10.00

(Every hour)

AN BRUL, Wrry". 2011 zerva. Terpen

} Wan for Tang Yi at 1930 pm daily,

Factories remained quiet 10- day. Earlier, interest was only limited to short covering, with some inquiry for nearby ship- ment to continent for lower sheet and off-grades.

In London, the rubber maricel was barely steady with

Closing prices

British Government Securities

2 Consolidated-£40.

36, Conversion-400-3/16.

1 Saving 1955/05-192

3 Savings 1900/70-79-9.10. 39. Savings 1985/75-£715;.

Banks Insurance

Barclays Ord-87s_3d.

ontkolle Sank-60 3d,

Bank-CO.

Lloyds Bank---721. Union Insurance... £7-29/33

Oll Burmah O-10% Royal Dutch-£11-13/10,

Steels Engineering Babcock & Wilcox, Ord—is to cor United Steel-39 (0, Vickers Ord-30s 14.

Industriais

ASSOC, Elec, Industries-46 24. Assoc. Portland Cement-ils läzed. Boardman, Marden Ord—la 7150. British Motor Ord--15% 9. Coats (J. & P.) Grd=559. Courtaulds Ord–883 Tied. De La Rue Ord=338 1jad cor Dunlop Rubber Ord-221 4}d. Elec. & Mus. Industries 44. Ford Motor Ord-60s Hyd. General Electric Ord-345 30. Gitman Holdings! Ord—25 Bia, Great Universal Ords Bd. Hawker Siddeley Ord-TIR. Imperial Chemical Ord-724 4tid.

Ord-100s Marks & Spencer "A" 750

Rolls-Royce—the Od. Standard-mol en 714d. Unilever Ord-1499 10d. Woolworth Ord-85 d.

Mines

De Beers Def-150% 71%d, Petaling Tin-06 2015.

Miscellaneous

Bowmaker Ord=23# dr. Canadian Paellie Ord-375). Hongkong China Cas-386.

P. O. Steam Nav. Def. Wisd

--Reuter.

Big outflow

of gold

from U.S.

Washington, Nov. 2, The outflow of gold from -the United States hos totalled more than $1,000 million since the begin ning of the year, the latest Treasury financial state- ment showed today, quoted at 20% pence

Last Friday night the United

silikon Amsterdam, the rubber States owned $18,417 market was dull today with of gold, compared with $18,450 quotations amchanged since nilion at the start of 1900. Friday's figure had fallen #45 million from the provious day.

Gold worth $905 militon ban passed into foreign hands since June 30.

In

yesterday,—UPI,

Exchange rates

spot

Although official figures have

not been published, it is thought

Cary, Am. Cable & Radio American Cyanamid Co.

Am. & Forgn, Power

Am. Gas & Electric

Am. Mach. Je dry.

Am. Natural Gas

Am. Sugar Ref. Ampex

Armed..Strel

Asbestos Carp Baldwin-ma-Ham. Bark of Montreal Bank of Nova Scotia Deech Life Savers Dell Telephone Beneficial Finance

Bendix Aviation Corp. Benguet Conk Boeing Airplane Burden (The) Co, ..... Burroughs Add Machine British Amer. Dit .... British Columbia Flec. Calif. Packing Corp, Cana. Bk. of Ceram, Compbell Soup Co.

C (3-1) Co. cat Tractor ... Celanese Corp.

C. X. T. Financial Corp.

Cluett Peabody Colgate-Palmolive

Colombian Carbon Co. Commercial Credit Gaming Glass Works

Confolicated Paper Conners Cas Continental Car Continentoi Olt ut Dei. Creole Po...................... Crown Zeilerbach Delaware & Hudson Com

Diamond Alkal

Distillers-Seagreena

Dominion Stores

Douglas Aircraft Dow Chemical

Family Finance Corp.

Ferro Corp.

First Nat. City Bank

Ford Motor Co. of Cana.

Geortia Pacine

General Dynamics

Gen. Pub. U.

Gen, Del. & Elec,

Gen. Tyre & Rubber

Welly all

Glidden Co,

Goodrich (B. F.) Co. Great Northern allway

Grimman Aircraft Gulf Oil

Haminan Organ fleyden Newport Corp. Iron Walker ...... Homeslake Mining Co. Human Itefrig. Idaho Power

Jorperlat 01 Imperial Tobacco Ingersoll-Rand Interchemical Corp. Kalber industries Karmas C. Power

Kimberly Clark

"Light"

Liggest & Myers Tob, Co, Lly Tulip

Leblow Grocoterios Lorillard ... Lowenstein & Sons.

McDermott J. Har

McDonnell Aircraft Merek

Motorola inc.

$ 37%

31

52

20

23

U.S. move to

curb imports

of cheap

suits

a

FIRM ENTERS SMALL BOAT FIELD

With half a century's experience in the design and production of instrumentation and control equipment for the world's ocean-going vessels, the Sperry Gyroscope Co. Ltd., is to extend its products to cover the smaller boat categories. The firm is now bringing out n range of equipment designed to mact the specialised needs of trawlers,

Email working boats generally, of yachts and

Biggest British

tanker launched High speed craft.

Latest in the range is n magnelle compass pilot which gives automatic decring control for the small sea going vessel...

The biggest tanker built in Britain was launched re-

coasters, tugs, fishing craft ned cently on the River Tyne yachts--which cannot for one in North East England,

Mason or another Install a gyro The tanker, Serenia, hos a

compass. The pilot allows iwo deadweight of 65,000 tons and alternative methods of steering 1s being built by Vickers- centrol, remote and automatic, vessel's Armstrong (Shipbuilders) Ltd., in addition to the at their naval yard on the out-

normal steering arrangements. skirts of Newcastle upon Tyne Weather and initial rudder ad- justment controls incorporate the "big ship" techniques.

is

New York, Nov; 2. Men's suit manufacturers met in New York on Tuesday and agroad to for Shell Tankers Lid. raise

fund of $1 She was lurched from what believed to be Europe's million to combat excer-

1,100 ft. longest slipway -- a sive imports of

men's berth. cheap suits from Medi-

Costing

than ferrancan and Far Eas-milllon, The Serenia is 817 $6. torn countries.

overall, has a moulded breadth of 112 ft. 6 ins, and a depth of 57 ft. 9 ins. She was launched by the Hon. Mrs Richard Wood wita of Britain's Minister of Power.

the

The move follows up action

of the Amalgamated Clothing Workers Union in June.

The manufacturers' commitice made it clear it is not disturbed

1 by traditional imports of men's high fashion, high priced suite tat by a surge of new cheap suits

from low wage countries. Alexander Lerner of Phoenix Clothing Co, Allenlown, Pennsylvania, Chairman of the Industry

Committee, Import sald the million dollar "surviva fund" will be used on a pro- gramme of education and poll- tiem action designed to bring about import quotas on MEN'S cheaper clothing-UPI.

SA

40%

Agreed merchant

rates

Canadian, Maximum Selling 17-1/32. Minimum Buying 17- 9/32 T/T; 17-11/32 O/D.

Unit trust

First Hong Kong Fund Buyer Price: $0.99 Seller Price: $1.03

Yesterday's Closing

more

£4

machinery consisting of double The Serenia will have main

reduction Keared turbines capable of developing 22,000 haft horse-power, sufficient to give a service speed of 10% knots, Steam will be provided by two Babcock and Wilcox selectable superheat bollers.

The equipment incorporates a compensated 6-inch compass which is used in commercial eraft, particularly those with steel hulls, For applications

where space is limited a smaller uncompensated version is to be available.

Other equipment designed to meet the needs of smaller craft

from a small wheelhouse unit are the tiller pilot which offers hand and automatic steering

(In association with Sperry Mark El Gyro Compass), the tiller steerer, providing precise

rudder control follow-up craft having power operated type rudders but no automalle steer- ing facilities (barges, tugs, lake and, river

craft), and the Shell Tankers originally had

Marine Gyrosyn Compass two vessels of 32,000 tons each

wiilch cffers on order but this contract was magnetic heading reference for

in

a gyro stabilised

altered to the one 65,000 ton craft of the fast patrol boat vessel. The firm also have two type, where immediate readiness other tankern, each of 05,000 and high speed manoeuvrability tons deadweight, on order st

are a requirement, alber Beltish shipyards

and where for navigation space is at launching next

pre- year-one

atmium-LPS. Swann, Hunier ond Wighom Richardson Ltd, also on the Tyne-and-one-at--Cammell- Laird's of Birkenhead,

The Serenia will go on trials next March and will become the flagship of the Shell Tanker fleet. She will have a crew of 60 and their quarters will be among some of most Juxurious

afeal in cargo vessels. Among An other facilities is a spacious swimming pool. The vessel was described by Viscount Knollys, chairman of Vickers Ltd., as the largest commercial vessel which would be delivered to ship- owners in the UK, since the building of the Queen Liners,

COMMODITY PRICES

COTTON

LIVERPOOL

Closing prices all.in pence per

RUBBER

all in Straits

BINGAPORE Closing prices cents

bob. Malayan

Mesabi Iron Corp.

Molson Brewery

Monsanto Chemical Co.

Mortecatini

ib.:

per

National Biscuit Co.

American Contract

poris:

National Dairy Prod.

Dec.

23,80

No. 1 Nov.

No. 1 Dec,

National Steel Corp.

Mar

No. 2 Nov,

2014-0011 001%-0045 0032-09

May

July

No. 3 Nov.

13-8834

Oct.

Spot rubber balod

Mixed Contract

Blanket crepe

80-8015 701-761

Norands Minos Ltd.

Norfolk & Western Ry, North Amer. Aviation L

Northwest Airlines (Com) Oklahoma Nat. Gus Olin Mathints Owen-Illinois Glass Oxford Paper_Co. Parka Davis .co. Permy J. C. do. Pem, Bait Co Philip Morris Pitney Bowes Procter & Gamble Co. Publicker Industries Pulimen

Fire Oil Itado Corp. Pret

Raytheon

Royal Bank of Canada Rhcem Mfg. Royal Dutch

ear, toebuck & Co. Baleway Stores saint leg, Paper Schenley Inc. slegier Ourp.

Bcott Paper

Smith, Klina & French South Puerto Rico Buger Southern Co. (The)

Southern Natural Gas

Southern Pacific Co.

perry Hand

Steep Rock Blone, & Wets££? Sunshine Mining

Textron Ine.

Tpokol Chem

Tide Water Oil

Time Inc.

Trade France

|

Travelers Inc.

Tri-Cont. Warrante perce

Businena was done in thie, Jocal

exchange market this the UB balance of payments Twentieth Century Fox Film

info

morning, at the following rates! UB. dollar (per $11

United Frui Untied des Corp way about · 84,000 | US MMI I FC, PP I 11:46: rottile, boing-ared with 2,900 Fartingoses. Ale, trake con

theficit for the third quarter of

Tin thi Th

Mayling riafes (per SC3UNG. 1ANI Amitralian, miten, (pår #3) G Indonesian rupiah: Jegr 305) İsimeri siomia (per 100)' Singapore (Birajte). 26,

million in the preceding qike»

|tar-Rauter.

METALS

NEW YORK

No. 4 Nov.

No. 1 pale crepe

UK-Indonesian air services

agreement for air sor-

London, Nov. 2.

vices between the govern- Sments of Britain and the Indonesian republic was Titialled here today fal- lowing full discussions be- tween delegations from the

two countries, said the Ministry of Aviation.

The agreement provides for the mutual grant of, facilities in their respective territories for the operation of air services- Reuter.

Rise in London port charges

London, Nov. 2. London port charges will go up from November 21 be- COURO

of higher costs, mainly caused by recent pay, and pontion awards to dockers and port staff. The Port of London Authority and public wharfingers suld to- day the surcharge on rates for 20%-20% dies abit' rent on ships would 2015-2011 Co up by, five per cent, and on 2016-201 cargoes by ten per cent. 20-25 Fenster. 2016-2014

LONDON Closing prices all in pence per

lb.:

No. 1 Rot spot .......

Bettlemen kouse terin:

Det./Dec.

Jan/Mar

Apr/June

July/Sept

Dat.

Nov.

General marketz, ci.f, imala, parts:

Betale crepe thin, Dec.

201-34 30-24

thick Dec... AMSTERDAM

Closing prices all in guilders

Closing prices, oli in cents per per kilogram, c.i.f. Nov.

1b.:

Lead

Nov.

Jan,

Zine

Nov.

Jan.

Copper

Nov.

Jan.

No. 1 rubber

No. #rubber

10.40

No. A rubber

10.41

No, 1 crope

11.40

11.30

40.50

22.02

LONDON Afteriadon Staden Closing prices, all in sterling

per long ton.

Tin avot

3-month Cooper ipot

34numin

1614 Zine, Zat balt

Noy

Lead 1st halt

Jav,

Buy Sellers

860

FOT

22017

buy

900

好运

* buyers

2.40 buyer

247 buyer

-UPI.

FOREIGN EXCHANGE

NEW YORK

Closing rates:

Carter

Enklarid

official

· 30-DAYA

New Zealand!

Both Afries, f.

Others" unelianged.

Increase in CPA passengers

año buyers in nine months this year Cathay Pacific Airways. easily surpassed last year's record, total number of passengers corried, tho airline has announced. The 1000 total through September reached 70,053, com- pared with 68,920 for all of 1059-the best year since the falelinjo kegun operaiions in 1946. Total pawenger-miles flown e now well in excess of GOD toillion. During the firket whe months, of 1900 the passenger- rolle bare renched 60 mil,

ibals of 1959.

2.8170.

鮮奶