THE CHINA MAIL, THURSDAY, NOVEMBER 10, 1960.
DEMAND FOR DIAMONDS
Biggest merchants
will be at next week's sales
(After the Londom "guid rush," Altaander Tham- son investigates the chances of another and dif-
ferent rush
By Alexander Thomson
London, Nov. 9.
After the London "gold rush”—although
less hectic now it is still going on will there be a diamond rush too?
London closes
easier
London, Nov. 9, Gold mining shares bound- ed higher today on word
Senator of
Kennedy's victory but finished be low their highs generally
market.
casier
Q
I called at. Holborn headquant- (ers of Diamond Trading Com- pany to and out what pointers there were.
Mr Phillip Oppenheimer, boxing former Cambridge "blue" and wartime commundë eclonel, is managing director.
He is 40 and a cousin of Mr Harry Openheimer, he world's "king of diamonds" who is head of the fabulous De Beers and copper mining vast goll zusei network besides.
A spokesman told me: "Our
start next monthly sales
en demand Monday. All this your has been vigorous.
we are get "Be Intilestion ting is that next weak it will br very strong indeed."
The gold rush was touched off by doubts about the dular.
sold to Americors are
have
been among the biggest bayers in
stock NEXT WEEK'S SALES
And diamonds, like gold, are
Gold shares jumpa, sparked by fresh hopes of a higher price for the metal.
With buyers holding off small lusses spread through the inclus Irial st.
OB shares closed fractionally lower. Rubber issues were sub- cued.
a traditional haven for paper money in fines of uncertainty.
In an atmosphera ef big busi- the Diamond ess elegance
markets Company Trading about nine-tenths of all newly- mined sparklers."
Wall Street rallies
to
regain U.S. balance
New York, Nov. 9.
Stocks rallied sharply in the final hour today to
UA
announces
new tariff
on
woollen fabrics
Washington, Nov. 9,
SPORTATION
NEW BANANA
CARGO LINER LAUNCHED
recover completely from a case of sagging The United States announced today a new taria The single screw refrigerated banana
prices induced by post-election jitters.
and others Missions remin
37
017
13413
63
2015
Co
24!
All groups responded upward, McDonell Atrorail
the market
Merck recovered Its
Musabi Tron Corp. balance leaving most stocks not
Minnesota Milag tom, far from even well up into the plus column.
Monsant Montecatini IBM soared around 11 points Montguleery Ward
Motorula Ine. in the electronics, Polaroid 0
National Biscuit Co. in the cameras, Union Carbide National Cash her. "A" nearly 2 in the chemicals, Wool-National Dairy Prod."
National Lead worth in the chain stores and National Steel Com
New York Centrai Ford ground in the motors.
Noranda Mines Lid. Oil etovits, severely depressed earlier, cut most of their losses along
steels and The with clvetronies. Coppers, up all day on
higher copper
higher to non-ferrous
news of
other
prices, drove even gether with metals.
in
ahead
Defence issues, mixed earlier
the day, higher with more than 2 point or more.
moved uniformly
Douglas and others up
Today's volume was 3,450,000 chares.
Of a total 1,223 shares traded, 503 were higher and 503 lower. volume American exchange was 810,000 shares.
Bonds volume amounted
And about 100 of the $5,790,000. world's bigges, merchants
will
week's sales or met be at next
Gilt-edged securities good demand and ended slightly higher.
sights" o they are called,
They will see some £7 mil-Abitibi Pwr. & Paper Dollar stocks were mixed-Ban worth of urut stones both Alden Ing. Ac
UPI.
Closing prices
British Government Securitie But, Chisolidated-£46-1/10,
9. Savings 1955/70%-£ 34. Savin 1960/70-£7894. a. Bavings 100/75-£71-13/10.
Banka, & Insurance Barclays Ord-08. Chartered Bank-49x Pel. Banka.
LAU Banking Ori—972, Untos Iurance... £7-20752.
ເນ
Buzul Oil-3 Gal
Royal Dutch-£ 12-3/32.
Steels Engineering
Bubeck & Witers: Did-34< 0.
United Steel--850,-
Vickers Ord-Zia AJ.
Industriale
Assoc, Ep. 88,
Assoc. Purtland
Jet
Hoordman. Murden Ord-Ga 1250. British Motor On-t
Coats J. & P.) Ord-35s #tyd. Courtaulds Ord-
dd.
De La Rue Ord--583 30.
Dunlop Rubber Ord-22 490,
Eler. & Mus. Industries-41
Forth Motor Ord-
G.
Gilman toldings) Ord-2% 04. Great Universal Onda 1. Bawker Siddeley Ord-2013.. Imperial Chemical Orit.-71 1k & Spencer "A"
Ord-[018
Halls-Royce-1. Standard-Triumph-7 d. InBever Ord-15. Woolworth Ord-00s 10.
Mines De Beers Def~-~55 10d. Petaling Tin-1 150.
Miscellaneous
Bowmaker Ord--25 d. Canadian Pacific Oru-38. Huurkung & Cina Gas-154. P.&O. Steps Nuv. Der-33 S
-Reuter.
Sugar prices,
quotas fixed
Alguma Steel Corp. Allied Chemicals
Industrial
Allied Mill Inc.
of the
and Kem variety,
Today I was shoir. how this lamorous piece of mer: most chanting is organized.
re-
Dismend merchants are ceived in n big drawing room- tile room with deep annchairs and low coffee tables.
From there they are take Into small offices looking down on busy Charterhouso-street.
Under the north light win- lows are baize-covered tables on which uncut diamonds ara laid out in paper packets.
w.rih Packets are usually between £50,000 and £100,000 Merchants are left or more. alone to examine them. But it is an age-old- custom that ti
surile out their before eluques
leaving the Strictly building. For this is n cash business, No credit 35 given.
Diamonds packed by girls are sent off by registered uirmall next day.
TRADITION
another tradi- And ther is tion. Prices of diamonds in this of their journey from sluge mittes to
adom the rich do not vary with supply and demand.
The Diamond Trading Com- peny scarcely alters them. The lust, inereusz was three years DKO.
it averaged more than one shilling in
Then
pound sterling.
Allis Chalmera
Am. Drake Shoe .. American Airline....
American Cable & Radio Corp. American Cyanamid Co.
Norfolk & Western Hy. North Amer. Aviation Northwest Airlines' (Com.) Oklahoma Nat, Gas Olin Mathieson Otis Elevators Owen-lunais Glas Oxford Paper Co. Paelle Gas & Flee Pan American Airways Paramount Pictures Parke Davis Co. Penny J. C. Co. Penn, Salt Co. Philip Morris Piney lowes
Procter & Gambly Cu. Pilteburgh Plate Glass
Gen. Fler.
blicker Industrien
Pullman
Pure Oil
Radio Corporation
Raytheon
Republic Stevi
heem Mig.
Shell Oil Co.
Safeway Stores
Southem Jesitway (Com.)
Sperry Rand
that is expected to stem swelling imports of woollen and worsted woven fabrics from Japan, France and Italy.
NEW YORK
COTTON
MARKET
{
outset
New York, Nov. 9. Colton futures word strong
the from
with prices showing gains of close to $3 a bale dur- ing much of the session.
saló
The State Department the tariff is primarily designed to replace the complex quin system that has been in effect sines 1957, It said that several hari of the exporting nations complained about the difficulty: of aciministerling the quota.
Imports 01 woollen and worsted fabrics in 1959 totalled $64,314,000,
certain
types ર
cargo liner Chuscal, built for Elders and Fyffes Limited, London, by Alexander Stephen and Sons Ltd., Glasgow, was launched on November 3 by Mrs J. A. Edkins, daughter of Captain J. A. Moore, O.B.E., Joint. Managing Director of Messrs. Elders and Fyffes, Limited.
Ltd., for Messrs, Elders and
of
vessel is of
stern.
The ship is for service be thal, to the predecessors tween the tropical ports of Elders and Fyffes. West Africa, West Indies, Cen- Externally, the tral America and British Isles graceful appearance, the specia! and parts of Western Europe. features being a well raked LIMIT IMPORTS
Chuseal is generally similar stem and neat cruiser
include a fore- lo three
vessels, The erections Blster Omeinis acknowledged that
Chirripo and castle and a four tler super- Changuinola, the new tarif rates, to be Chicanoa, which were built by
structure amidships, the curved effective on January 1, may limit Alexander Stephens and Sons bridge front being sloped_aft.
The vessel is built to Lloyd's imports, especially uf lower quality Fyffes Ltd., the lust of which
Class +100A), with refrigera They noted
tion. She has six watertight that imports from
bulkheads Japan jumped from $4.500.000
extending to the 10 last year's $16
upper duck and forming the in 1935
tanks, fore peak and att peak million, and that imports from Italy had a corresponding in
engine and boller room amid- erease from $6,400,000 to $13
ships and two insulated cargo holds forward and two aft. The million,
ship's side and decks in way of the passenger and crew accom- modation are protected from the heat of the sun with Fibre- glass 'B0 abre.
entered their service in 1958.
She has a gross tonnage of 6500, is 380 It. long between perpendiculars, has a moulded breadth of $6 f, 6 ins, and a depth
dk. of 35 ft. to upper Carrying twelve passengers al a service speed of 18 knots, she is the latest. In a long series of vessels built for these owners
AL the finish. the list ruled three to 42 points higher after
Some of the exporting coun- opening eight Jo 57 points tries, while pleased by removal higher this morning. New of the quota system. had Orleans futures finished nine to objectcu Increase in the new at Stephen's. The link goes 30 points higher.
Always highly sensitive to political developments, the distant months showed the best gains on
- netive moderately commision house und New Orleans buying during a session of comparatively light offerings. Near months were alded by 20% lower than expected government which came oul
وا الجديد
3814
Reynolds Metal
Reynolds Tobac
'
to
Royal Dutch
Royal Bank of Canada
Sears Roebuck & Co.
Closing prices
Saint Reg. Paper
Schenley Inc.
362
Scott Paper
4845
Siegler Corp.
29
Sinclair Oll
51%
Sraith, Kine & French
351
Socony Mobit au
2431 South Puerto Rice Augur
167
气味
184 Southern Natural Gas
Pheifle Co.
Sauthem Co. (The)
43
342
7 Standard Brands
Xx
Oil of Cal
437
crop report yesterday,
143
Standard Oll of Ind.
'નન
2014
Standard OH QI NJ
41%
24
Steel Co. of Canada
A
11%
Steen Rock
841
Sterling Drug Co.
AA
201
Stokely Van Camp,
American Tel & Tel
141
Studebaker-Packard Corp.
American Tub. Ampex
651
Sunghine Mining
213
Swift Co
A
4324
Texas Co.,
781
Textron the..
2012
03
34
201
In
its
36
pinceri
116
45
Union Pacife Railway United Aircraft
Ainer.. Forgn, Power Am. Gas & Electric Am. Home Prud. Am. Mach. & dry. American Mela) Ain. Natural Gas American Smelling A. Sugar Ret.
Anaconda Copper Anura Steel
Armour Atlas Cons, Mining Batwin-Lima-Ham. Baltimore & Ohio Bank of Montreal Bank of Nova Scotia
Beech Life Savers B. C. Tel. Co. Bell Telephone
Benclicial Finance Bendix Aviation Corp. Bunguet Con
Bethlehem Steel Boeing Airplane
Borden (The) Co. Burroughs Add Machine
British Amer. Dit British Columbia Elec. British Columiha Pur. Culit, Pociessig Corp. Cana. Bk. of Cumin. Campbell Soup Co. Canadian Pacific 31. Case (J. 1.) Co.
Cat. Tractor
Thlokol Chem.
Tide Water Di
ine.
3 Time
11 Trade Finance
ZILI TEVglueck the
Warrants
02% Union Carbide
ཕ་ Union Oil of Cal
31 United Fruit
saly United Gas Corp,
1.S. Fall "B
44
COS. Line Co.
U.S. Gypsum
$11
US Rubber
ND
U.S. Smelting
U.S. Slee!
324
US Steel 7 P.C. PP
3
ht
51
Warner Bros
Waukesha MotoTR
Westinghosen Air Brake
7245 | Western Union Tel, Co.
Westinghouse Electrie
217
Wert Va. Pulp & Paper
012
Woolworth 114,W.)
28**
Zenith Radio
2216
C. I. T. Financial Corp.
GJ
43
57%
2016
Celoner Corp.
| Chrysler Motors Clucit Peabody Colgate-Palmolive Co.
Colombian Carbon Co. Commercial Credit Corning Gips
Hittle
140
Works Consolidated Edison Consolidated Paper
Yet sales have spiralled
Consumers Gas
from £76 million In 1957 to Continental Can more than £90
year.
million
Continental Dil of Del.
Just
Creale Pet
Today the company's expert fold me they reckon this year's total will be £80 million at Irast,
Even if there is a buying rush next week, will make little diferenee, "Dlamends will have to be rationed," the experts sald.London Express Service.
Rubber
at talks market
London, Nov. 9, Sugar prices and quotas for Com- 1961 under the monwealth Sugar Agree- ment were fixed at talks which anded here today. An official communique lo- night maid full tugreement was renched to rule the price for price of the 1961 negotiated
Vulted sugar bought by the Kingdom under the agreement's terms to £46 2s, a lon
Negotiated price quotas for 1961 will be five per cent above basic quotas a reduction of half per cent of 1980.
Delegates at today's talka also agreed to extend the Common Wealth Sugar Agreement for further your.
review
New York, Nov. 9.
Crane Co.
Crown. Zellerbach Cuban Amer. Sugar Delaware & Hudson Co.
Diamond Alkall Distillers-Seagrams
Dominion Stores Douglas Aircraft Dow Chemiept
Dupont de Nemats
| Easter Air Line
Enstman Kodak
El Parc Natural GRA
Farly Finance Corp. Ferro Corp.
Final Nat. City Bank
Ford Motor
Gear Pace Be
General Dynamics
General Electri
General Fonts
Rox rubber futures today Hammond Orga
closed 20 to 35 points Heyden Newport Corp.
higher on
Eram Walker sales of 34 Homestaxe Mining Co.
Huseman Refrig. Idaho Power
contracts. Firmness in primary markets | imperiel 001 ... and some buying spurred by Impia Tobbieco the election results kept prices Ingersoll-Rand ahead in light trading. Trade inland steel Co.
40
10015
油
THA
UPI.
NEW INTERPRETATION
Wis ife Speculation
- In market eiretes that the election
Senator Kennedy tis the presidency, would mean a new interpretation of the farm laws and high price support levels.
crop report USDA the crop at
14,208,000 bales, 255.000 less than a month earlier. Ginnings to November
8,423,720 Wer 9,713,019 last year.
bales against
Grey goods remained quiet. Export reported today. totalled 9,798 bales. Liverpool futures closed five to 30 English points higher.-UPI..
Unit trust
First Hongkong Fund.- Buyer Price: $1,01. Soller Price: $1.07.
Electric rates. These rates would place back to 1905, and earlier than
tariff of 48 per cent on fabrics valued over $2 a pound, and 57 per cent for upwards of lower-priced fabrics.
Previous quota system were 38 per cent on fabrics valued over $2, and 78 per cent for the lower-priced variety.-UTI.
iates under
The
Sugar market
to
HONGKONG
STOCK EXCHANGE
by
Our Own Correspondent
welding has been adopted extensively throughout and units up to 45 tons were fabricated in the welding bay befare being assembled 战术 berth.
The vessel has 14 Insulated. cargo spaces served from eight cooler rooms. The refrigerating plant is designed to reduce, at à stated cooling rate, the tem- perature of a full cargo of bananas to the
carrying tem- perature,
The cargo spaces have been designed and constructed with the object of carrying bonanos that will reach their destina- tlon with the minimum amount. of bruising and
The damage.
are.
Business done at the Hong-bulkheads and Attings in Stock Exchange this contact with the fruit kong
and care painted morning amounted to approxi- plastic
has been taken to pro- mately $2,035,000. Noon quota-
duce amooth finish. In way of the Aare at the ship's tions and the morning's trans-
side the air ducts have been
nctions:
New York, Nov. 9. World No. 4 sugar futures today closed unchanged
three points higher Shafer Buyers Sellers
1330 1240 on sales of 16 contracts. HK Bank Domestic No. 6 futures
41% once Lombard ...
Union Ins. untraded and un- more were changed.
ER. Div.. Waterboot There was little in the way of Wheelock market news to influenco sugar prices. Dealers theorised that the sinal advance In the world market on scattered trade buy- ing may have reflected the De- mocratic victory elections.-UPI.
In the U.S. back
Yesterday's Closing
COMMODITY PRICES
Provision
lik fiatel
20.30
Bates
10 1939 30 1338 301333
125
50 125
125
120
200
27
H.00
0.03
0300
0.00 2000 9.40
21008.05
1000BAS
18000 8,00
107
LOB
500 OF 100
200 of
400 0 108
21.00 21.70 4100
4214 425
HX Land . 451%
Youmat!...
102 103 Buns Shares 081ý Youmat!.
1tik Trans
0610
Light 24.70
LONDON
Dec.
39.41 93,30
Closing prices all in pence per
METALS
May
31.79
1b.:
July
No. 1 flom poi
***** 2011-20 Settlement houre terin; '
Sept.
#3.34 33.19
Electric ....
20.00 20.50
Jan./Mar.
20%-20%
Apr./June
2013-201
LIVERPOOL Closing prices all in
pence
July/Sept.
NEW YORK
Nov/Dec.
20-224
ALI-20%
per lb.:
Genersi markets, m.i.f. basis, ports:
American Contract
Telephone. DE 2012
G.I. Cement GO 50%
Closing prices all in cents per
Nav Dec.
20-2014
Dec.
2012-2014
Mar.
lb.:
Jan.
2013-201
May
22.00 23.80 23.80
Dairy Farm 31% 32%
Leat
Estate crept thin Dec.
July
23.06
Dee.
10.40
thick Der.
Eept.
23.08
Jan,
10.49
2ine
AMSTERDAM-
Mixed Contract
Dec.
Dec.
11.82
Mur,
24.06 23,50
Watson Textile
3014
Jan,
21,42
per kilogram, cit. Nov.
May
Copper
No. 1 rubber
2.34 buyers
July
21.23
Nany
Dec.
20.02
No. 2 lubber
2.52 buyer
Бері
24.25
Jac.
20.33
NO. rubber
2,49 buyen
-UPI.
No. 1 crepe
2.73 buyers
Rob, Trum
LONDON Closing prices, all in sterling
xdper long ten.:
Tin pat
3-month
Cupper apot
Closing prices all in guilders
COTTON
24.10
FOREIGN EXCHANGE
1.02 11/10
General Motors -
Gen. Pub. Vill.'
Gen. Tel. &
c.
Cen. Tyre & Hubber
Getty bl....
Gdden Co
Goodrich (D. FIG.
Goodyear Tyme
Great Northern Railway Grumman Aircraft Gulf of
4315
Buyers Sellers
01
0911
001
790
320
2012 NO
22742 220
3-north
22732 720
Lead at half
Nov.
09%
0014
Feb.
ODIL
10
NEW YORK
Zine ist half
Nov,
Batt
10
Feb.
BT1
Closing 672 per 1b,:
prices all in cents
NEW YORK Closing rates:
UFI.
Spot
2225
Cabeds England
Dec.
31.71
omotai
2.2170
Mar.
33.30
30-days
May
14.10
SADAYS
5115 2.800
Other unchanged.
July
33.24
LONDON
Oct.
Dec.
13.47
Closing roles:
Mar
32,70
New York
50,00
May
Montreal
July
Amsterdam
Kept
33.40
NEW ORLEANS
Brunnels Coltenhages
per lb.:
12.26
Brot
20.10
Lisbon Dalo Patle
2004-20044,
18.00-13.01
Doc.
******* 19.02-1.314
30.
Mari
4.10
MBRI
174714-8743
20.14
Julk
Aurich
Interchemies) Corp. of some linti. Buniness Blokstaver It will now run to the end of sources sald reports 1900,
Chinese buying in the Far East Int'l veeter
International Nickel 1961 negotiated price maricet had little or no effect on Tita
International, Paper now reverts to the same level New York futures. Factories in Tel & Tel as in 1969, in 1060 it was 244 continued looking on and as a John-Miele Co.
result, dealer Interest finger. Haler Industries Es. 10-Reuler.
Kang C. Power & Light The current month for No. 1
Kennacolt Copper smoke rib shets was quoted at Kimberly Clark 32 centr.
Agreed merchant
W.
rates
German Deutschemarks, Maximui Selin-74%.
Liggett & Myers Tob. Co. Lily Tulip
Litton Ind., ... Lockheed Aircraft
In London, rubber market was steady with spot quotect at 20-7714, No. 1 Îne spot 20-4 - Lowws Incorp, an 20/3.
Amsterdam märket was duži today-UPI.
rulsber
Lone Biar Cement Co. Lorillard P
Lowenstein & Bone, McDermott 5, May-
RUBBER
NEW YORK
Rex rubber futures closing prices, all in conta per ib.
Novi
Closing prices all in cenie Frankfurt
MAY
2.61-2.81 21746/10/140/IN
10.03.10.091a 159.95-140.00 10.00-145.00 25.747-31/7336 03.20-10.30.
Ainol Bub
Ex. D.
feally
IK CA
21.00
ת
kept vertical, even at the ex- pense of capacity In order that the bananas can be stowed in the most suitable manner for
careful transportation, The propelling unit
a
consists of one set of compound high speed turbines acting through double reduction gears to single propellor shaft. Siephens have specialised in high-speed vessels, both machinery and
with Sulzer
with
Bleam
turbines as in this case.-LPS.
One booking from Far East
London, Nov. 9. Only one booking was ron ported in the Far East- ern section today, that of the Rio Alto with 9,500 tons of sugar from the the Philippines to northern range
In Movember position. Charters agreed the 40 cents beller rate of US$7.50 on; the basis of ons port load and one. port dischard on FIO and 2004 Ek stowod terms,
104220
0.90 $.05 1000 1.00
In the European veelion, Bipin charterers provided most of the business and fixtures In- 150986 alued
motor vessel tons of
14.00 14.70 10000
1290 g 14.60 Tebb '60 14,39 |
6.63 6.70 13500 5.B
78% 7.00
480
Justinian with 13,500
FROSTE
grain from the Gulf to In December 5/20 posi-
on at US$0.50 which ix 50 genta mpeg than was last pald
4797.40 1000 à 71% 1.00 10000 107 on October 18.
födda æ 1.978
LATO
...14.00
16
FIK & TE
Inv
1415 14.00
aliman
1.18
Vibro
Humphreya
10:37 10,00
Tofi
Invest 64 9.00 Taikoo ook
Star Ferry
Macao Elep
Поре
Lane, Bray 40%
009 i 15
The steady rate of 53/0 was
· 5000 @ 11:00 | Mureed · far. 9,500 tons of heavy
500 1415 Frain aboard the motor vessel #122 Napoli from the Guit to London In Novamber. 20/December 10 |bosition with an option of hull this discharge at 50/2,
Exchange rates
Business was done at the local
exchange
market Langmetal
V.B. duller (per #1) Qui Sterling notes (per #1) **** Australian notes, (per 21). ... Indonesian rupiahs (per 100) siam tigste per 2001 Kinenpore (8120676) (ALLE)
15
Timber and generala were fixed. "coord the motor vessel Temple Lane: 0,300 tona dɔw. from British Collimbja to the UK, and the fate of 88/6 wAB screed from January 2-20 load-
rain chartór showed Increased activity when they booked, three slegmers with grain cartroon to wori Italy at 2870,
In timp charter a motor ver- sel of 8.140 tons dw, has been Lake for one West African 144 rou voyage on ¦ direct con- 30 tuation with delivery 200 November 19/4-UPI:
1.
enc
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