1960-11-17 — Page 2

THE CHINA MAIL, THURSDAY, NOVEMBER 17, 1900.

BRITAIN'S WALL STREET

COTTON OUTPUT

Manchester, Nov. 16. The British cotton industry produced an average of of 9,690,000 pounds single yarn cotton yard in each of the four weeks ended October 1, the

Cotton National announced today.

The

Board

for

New York cotton market

December dein

EASIER

CLOSES

New York, Nov. 16.

Stocks closed casier on late selling today after

Lily Tulip

HONGKONG STOCK EXCHANGE

4571

by Our Own Correspondent

operating in an extremely narrow range throughout the session. Trading picked up from yesterday's pace. 10M last around 8 points in n mixed electronics group where Texas Instruments fell over 4. Brunswick dropped around 3 on news it may Issue convertible debentures, Polarold $25 to $30 million worth fell around 2.

Chemicals Inst

Lorillard 1. Lowenstein & Sonx, McDermott J, Ray McDornell Aircraft

Merek

Mesabi Tren Corp.

of Molson Brewery Co.

Monsanto

New York, Nov. 16. Cotton futures closed 35 confs a balo lower to 20 cents higher.

were lower Mast deliveries weekly average cottont waste yarns was 1.938,000 with the market feeling messure for man-nude of quidation in nearby Decem- pounds andl Staple yarng and mixtures (in-her contracts. First notice day

as much ading waste) 2,930,000 pounds. for the nearby

next Wednes- 2% in Dupont, moters up to a total weekly livery comes up This was

clay.

Reports that the cottemi point in Magia. average of 14.550,000 pourtis.

harvest is proceeding rapidly Procter and Gamble The industry also produced &

to strengthen the weekly average of 24,500,000 were believed to be redected infon 3 pointy

some hedging in futures along Dow Jones Industrial average. cloth, anc! Colton of yards

vils Wee up. of man-made with selling on a disappointing Most 12,110,000 yards

ercurd 334 and Kemcgee Aure and mixture cloth making | colton consumption forecast.

Cotton The New York

Exaround a point while some de- a toul of 38,650,600 yurds,

up fre- Issues picked fenca the industry on Workers in

tions. Ocluber 1 totaled 184,410. Of tre. 71,310 were engaged in waste spinning, 7.270 spinning, 16,100 in doubling and 69.470 in werving-China Ma!! Special

113

Textile market

New York. Nov. 16. The cotton textile market was quiet today. Interest cloth in fürward print

with only diminished

small sales of print cloths and other constructions reported.

The wool goods market was quiet,

change Service estimated Octo- ber domestic coticn consumption at 680,000 bales compared with 733,000 Dales in the month just peor.-AP.

Agreed merchant

rates

Canadian dollars:

Selling, 17 3/32; Minimum Buy-

17 11/32 T/T,

| ing.

O/D.

Belgian Francs:

Selling, 835.

30 Industrials

Dow JoneN closing WETU:

20 rails

15 utilities

65 stocks

48 bends

Montecatin

Motorals Inc.

Business done at the Hong-

this kong Stock Exchange morning amounted to approxt- mately $3,700,000. Noon quota- tiens and the morning's transac- tions:

Khates

Buyers Sellers HK Bank 1320 1330

THE

LONDON

STOCKS RISE

London, Nov. 16. The stock market closed higher today but Ford ended slightly below yesterday's close on fears that the govern- mont may black the American company's affor to buy complete control,

engineering textiles led widespread advances | In the Industrial Est.

Steels,

Gilt-edged

quietly drm,

El

Fosurities were

Golds Ormed as did copper

*

#7

472%

24 a

1492

tacked

Barber

National Dincuit Co National Dalry Prod. Nations: Steel Corp. Noranda Miner Lid. Narlaik & Western Ry. North Amer, Aviation Northwest Airliner (Com.) Oklabama Nat. Gns Owen:-Illinois Glass Oxford Paper Co. Peny J. C. Cu. Per. Soll Co. Putins Marris Pincy

309%

Brien

10 1325

1325

701

Lombard In:. 421

In 125 120

000 125

Wheelck

X.D.

9.00

8.3 21000

9.00

0000

9.45

and diamond stocks.

ZA..

5000 1.05

30900 8.70

gained

10000 or 0%

3000 3.60

IK Deck ..

108

167

2004 107

Ch. Prov,

319

22.10

IK & 5.

Hotel

Land..

Dower

Procter & Gamble Co. averages Portianu Gew. Fiec, Publicker Industries

Closing prices

604.77 Puls

Pace Oil

128.39 Radio Cotp. Pref.

::,

500 (3 21,90

1000 20

138 21.90

100 @ 22

2000

1100

14.30 Raytheon

84.53 Royal Dutch

200.16 Royal Bank of Canada

Hheem Mfg.

143.

Comin. future price

Index

Sears, Roebuck & Co.

143.19 Shell Oli Co.

Maximun

Safeway Store

-743

Saint Reg. Paper

17 13/32

Schenley Ine.

Yahoot! 2284 Younali

302

104

Scott Paper

Abbi Powr. & Paper.

331

Siegier Corp.

27%

ᏐᎢ . Bonus .Rights

0715

87 87

8714

Maximun

Algory Steel Corp.

Su, Kline & Frenet

47.

Allied Milk Inc.

3934

South Puerto Rico Sugar

101 Trom

32 3344

Am. Brake Shoe

372

Southern Co. (Tel

An. Cable & Radio Corp.

2000 321

100

Southern Natural Ga

Amerlenn Cyanand Co.

431%

390 3214

Southern Pacifle Co

Am. Gas & Electric

123

Au. ure Prod

IMAIS

Southern Railway (Lam.)

leh. Light.

21.00

2400

4000 25.30

Kin. tach. Fury.

Sperry Rand...

72

500

25.10)

72

Sleep Rock

300

25.20

Stats & Webster

3200 25.15

100 w 23.50

1000 @ 25

West German Deutschemarks: Maximum Selling,

Exchange rates

Thisness wea don in the les soficial exchange

11rket tha

US dollar per $11

Am. Natural Ges

Am. Sugar Rel.

Ampex ....

Sunshine Mining

Textron Inc.

Thinkel Cheat,

Asbestos Carp,

Itu ldwin-Limin-Har

marning at the following rates:-

Bank of Montreal ...

Tide Waler Oll

Bank of Nova Scotia

5.65

Borch Life Savers

182

Traders Finance

Sterling en per £1 Australian 1st (per 1

15.12

1. C. Tel C.

439

Travelers Inc...

quarter

Sam tal per 100)

Indonesian urotah per 100)..

1231

Bell Telephone

410 Tri-Cont. Warrants

3.19

Teneficial Finance

31

21.26

endix Aviation Corp.

649

United Fruil ....

Streapon (Strait

1.30

Benguet Conu, .....

Unlied Gas Corp.

U.S. Line Co.

U.S. Steel 7 P.C. PP"

28!

Orders for ruyun geods were for fourth moderate delivery --AP.

P.O

ORIENT

LINES

EMBARKATION NOTICE

R.M.S. "CANTON"

for UNITED KINGDOM via SINGAPORE, PENANG, COLOMBO, BOMBAY, ADEN, SUEZ-PORT SAID. EMBARKATION:

SAILS:

The ship will be berthed at No. 1

Wharf. Pier, Kowloon

Passengers

should embark between 4.00 p.m. and 6.00 p.m. on Friday, 18th November, 1960.

The ship is expected to sail at 8.00 p.m. on Friday, 18th November, 1960.

BAGGAGE:

Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 Gate), Navy Street, by 5.00 p.m. on 17th November, 1960.

SUBJECT TO CHANGE Agents:

MACKINNON, MACKENZIE & CO.

OF H.K. LTD.,

Telephone 85211-9.

Boeing Airplane

Barden hel Co. Burroughs Add Machine"

British Amer. Oil

Caill. Packing Corp. Cana. Bk, nf Comm. L'umpbell Soup Ch. Canadian Pacifle R. Case 13. J Co. Cat. Tractor Cranione

17. Fir

metal Corp. Civet! Peabody

Colombian Carbon Co. Commercial Credit

Curning Glass Works Consolidated Paper Consumers Gar

Continental CAN

Continental Out of Del.

Cosmo Imperial Milia Grepte PE CARE AN Delaware & Hudson Co. Distillers-Seagrams

-Seagra Alterat

Dow Chemical

El Paso Natural Gas

Family Finance Corp,

Ferro Corp.

First Nat. Clly Bank

Ford Motor Co. of Canado.

Georgia Pacifie

Gult On

Twentieth Century Fox Film

Waukesha Moters gang Westinghouse Air Brake Western Unlan Tel. Co.

50 West Va. Pulp & Paper Winn-Dixie Stores

Zenith Radio

20

KK Elec.

HK Tel:

29.10.20

36 304

4

200 23.10 500 17-25 4080 29.10 1833 59.15 1005 0

200 61 3614 100 361. 209 30 1500 39%

30 A IDAD

509 10.30 850 29.40

57-

TCD 3313

28:

Telephons still

14

0.20 19.40

39G Cement 30

57 3003

B

1000

100

57

10334 Dairy Far UP3.

33 3314

100 34

1:100 # 33

1000 33

100033

Watson

Alliext Texlite

31 122

5.00 Под

1000

1000

55 000

£000 9.53

Nanyang

13 10.18 TK

Ten most

active stocks

New York, Nov. 16.

Ten most active stocks on

General Dynamics

Gen, Pub. U

251.

Gen. Tel. & Elec.

327

Gen. yre & Rubber

521

Gondrich (B.F.) Co.

Great Northern Railway

4414 244

Grumman Asterafi

201

Hammond Organ

293

14.

Iliram Walker ........

tomestake Mining Co.

401

Husman Refrig

off

12

1014

Idaho Power impertal Oll.... Imperial Tobacca inland Steel Co.... Interchemical Corp International Paper Johns Manville Cu. Koler Industries Kimberly Clark Liggett

Myers Tob. Co...

1300 915

1000 0.55

6780 Diá

250

15.70

1900 15.70 6500 de 15.00 1000 kr 13.00 100013.JK) 333 35.00 131 13.DG

1000 18 4000 18

the New York stack ex--|--Amal-Rub. 5.035.00 2000054

today - sales,

closings and net changes But

change

respectively:

52,900 Univ Match 50% off

30,700 Ampex Corp 23% up

38,100 Brunswick 78% off . 30,000 Beth Steel 40 of 4. 32,500 Autom Canteen 33%

31,500 Am Motors 19 off. 31,100 Std Oll NJ 40% off K. 28,200 Alum Lid 30% up. 25,800 Chock F Nuts (WI) 19% of %.

24,100 Korvette 30% up 4. (WI-when issued)-UPI.

50005.80

155005.85

2000 10 3.90 500U 7.70

2011 05

800 635

400 or 64

200 & 31

10000 / 1.375

1000 1.90

Trust Talkoo Duck 03

7.30 7.85

Humphreyn

Realty

24.80 24.60

1.87

1096 2 24.70

159 OF 24.70

1.90 21000 1.20

TODOV (of 1.5M)

Siar Ferry

175

177

1K Gar

IK. & F.E.

11.80 14.00

4000 x 14.00

200 $4.00

in

Cabnan

Int'l

145110

43 170 200 170

70 14.00

14% 14.30 200 1150 2.175 2.20 1000 2,20 2000 220 10000 2.20

Invest 9.15 Lane, Craw, 401

FOR ELEGANCE

AND

COLOUR, THIS IS

THE BEST SHOWROOM

By Alexander Thomson

+

P.O

ORIENT

LINES

London, Nov. 16. at the top? I present How are big businesses run by men

today the casebook of Mr Roger Lee, Calico Printers' chief.

SAILS:

EMBARKATION NOTICE

S.S.

'IBERIA"

for MANILA, SYDNEY and the UNITED KINGDOM

I have visited him twice this year at headquarters of this £33 million group in

Manchester's Oxford-street.

So what its pesilion will be well as printers They

are in 2 large and of cotton as

and finishers.

when the concentration plan 's- gaunt building that from the

a tantalising thought. It has big merchanting Anished outside looks about as up to

My, Lancashire friends reckon date び Д London rallway business too and also own a

chal of dress shops. And of it will end up with the lion's EMBARKATION: The ship will be berthed at No. 2 station.

course it makes Terylene. share of this highly competitive Pier, Kowloon Wharf. Passengers But once you are inside and

Right now you can be muro trade.

lot of Colico's fortunes bave been should embark between 4.00 p.m. and up on the top floor where the

that Loe is giving a the

the part Calico greatly boosted by royalties thought do 6.00 p.m. on Saturday, 19th Novem- fashion buyers go to see

next senson's fabrics you arc

Printers will stay in govern- from Terylene, ber, 1960.

in another world.

for cutting oul

But royalties do not last For elegance, colour and skil-menis plan

forever. Roger Lee's long- The ship is expected to sall at Mid-ful lighting this showroom must surplus capacity among cotton

term aim must be to replace night on Saturday, 19th November, be the best, there is anywhere, finishers.

Last June in a surprise toke- 1960.

POLICY

this earning power when it up United over bld he bought

Hopeo bi latest Red Company,

rung out. A Roger Lee is a tall, un-Turkey

10. Assuming man who says Uttle £2,700,000 Dumbartonshire con-

When I made my first on-the- trut thinks a lot as he puffs cern.

spot report about the company away at one of his well-smoked

He is to close down its cotton on January 20 iis shares were pipes. almesphere to work in. So he printing and finishing worka | 00 shillings six pence. Now they dresses informally. Tweed suits next year.

are around 100 shillings. •

Yet aller a big increase la and suedo shoes are his usual

will be trans- The business

dividend they still yield roughly workaday wear.

ferred to Colico. Hi omed is almost colour-

More recently he also took 27. 128. percent with a "cover" three-and-a-half less, although Calico, Printers over another rival, Sackvilla of almost produce conc

Its works are also Umen,

BAGGAGE:

Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 Gate) between 8.00 a.m. and 5.00 p.m. on 18th November, or between 8.00 a.m. and Noon on 19th Novem ber, 1960.

SUBJECT TO CHANGE

Agents:

MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone: 85211/9.

Не

likes a relaxed

40 PER CENT

of the most and West, glamorous fabrics in Britain. to be shut.

In a brighter stock market

But Roger Leo's policy Is Calico Printers concern has they would be higher. Especial- clear cut! strength through always sold that it has about 45ly as Lancashire's boom still ap Verma integration. Calico percent

of Britain's cotton pedre to be going full blast. This wesveral printing business.

group are spinners and

London Exprem Bervios.

Oil issues

fractions

while rubber stocks steadied.

Foreign bonds were feature-

The bubbles taste

better

eight miles up

By A STAFF CORRESPONDENT

less and dollar stocks mixed. I don't know why it should be, but cham-

UPI.

Closing prices

British Government Bernrilles 215%. Consolidated-£40-7/19,

ais. Conversion—Rua-13/16.

3. Savings 1965/66-00-31/10. ~

3 Savings 1900/70-13

Dr. Savings $165/15--071TK.

Banks & Insurance Barclays Ord-87% 0d,

Chartered Ban

Hongkong

Lloyds Bank-25я 10.

pagne eight miles up and at 600 miles an hour tastes infinitely better than dead still at ground level.

It seems to improve in direct relation to the speed and height you fly at. The airliner I went on yesterday was the Rolls-Royce powered Boe- ing 707 in the colours of Boac and soon to fly between here and the west coast of America.

The most striking Impression- apart from the effervescence and superiority of the champagne Cement-ris. the comparativo silence

Lombard Banking Ord-106 Tlad. Union Insurance... £7-29/32,

Oil

Burmalı Off-306 Del, Royal Dutch-£117.

Industriale Asoc. Elec. Industrier-434 Thi Astor.

10.

Portland

Buarding, Marden Ord- 7140, British Motor Drd-15s 7150, Coats U. & P.) Ond-5te Courtaulds Onl―s 10. Dun

bber O-261 10!get. Elec. Mus Industries-431. Ford Motor Orden133 Bd. Gilman tollings Ord-39 01. Great Universal Ord-S 10: Hawker.deley Of 2 Imperial Chemical Ord-72 Marks & Spenger "A 7140

d.

Molla-Ployee

Standard.

Ord-102s

- 716. Unilever Ord-isha 4ad.

De Beers 2 d.

Petaling Tin 7 Ed.

Riiscellaneous Bowmaker Ord-254 190. Hongkong & China Gás-15 Indo-China Def, Ord-18 10160.

.. Steam Nav. Det-114 d.

-Reuter.

Rubber

market

Singapore, Nov. 16.

Overseas

advices

nt

the big Jet engines whatever part of the plane you are sitting

in.

seven

that may As an Impression

noteworthy not be particularly

bul on

or 7-hour for .fight it certainly makes

less fatigue and more relaxa- tion.

There is a slight vibration and an occasional sway which is perhaps common to all platies but neither is distracting or up- setting.

ате

the usual Washrooms postage stamp size, designed, I would say with the express purpose of discouraging slow- the ones next to the emergency for art bathroom is 0 toilet and compartment with seats mirrors equipped with plugs for electric shavers and shelves for make-up kits. COMFORTABLE

The seats in wore

first class are Lip is

mixed and after opening amply comfortable-my

to 43k the booking clerk for slightly above last night's the one next to the emergency final levels-the-market exit; they have almost-a-private

steadied on short covar-lounge.

ing.

There are four seats abreast in with plenty of leg room Fluctuations were rather ex-

six abreast in aggerated by thinness of trading first class, but

and with No. 1 Rss reaching tourist, and for a tall or stout 89% cents for December the person rather cramped. market eased sharply on

up-

The internal colour schemo country liquidation and profil has been well chosen, Lighting

taking.

but I do wish the windows could be smoked with-

Lower sheet interest remain-is soft ed

wood but sellers continued to meet market.

Quieter contiition: in thr alternoon with terling to ere,

the

Pressurisation is a great im- provement on anything I have experienced beford. Climbing to 41,000 feet I had slight dis- comfort in the ears but far legs than in any other plane. The air-conditioning W23 ample without being frigid or drafty.

The plane looks huge from the outside but this is deceptive when you get inside. My com- panion felt it was too much like a bus, but then there is a cubin and stuff of three steward's three stewardesses to make sure everyone gets enough attention.

UNNECESSARY

are

There

built-in fold-up trays on the backs of every cept. There are no sleeperettes, The longest hop you are likely to make is only 7 hours and full sleeping facilities are there- fore thought unnecessary.

If you like plane travelling you'll vote this 707 the best. If you hate travelling by atr but nevertheless have to various occasions, the 707 makes the journey as tolerable as possible.

on

And if despite Mr Boeing's still feel Adgety airliner you and uncomfortable, think back to the Yorks, the flying boats, the DC 33, the Avro Ansons and earlier vintage airliners.

bout efforts to produce the ident

And this one you'il agrea is the smoothest, quickest and lenet troublesome way of flying that man has yet devised.

New cable ship

out cutting out the view. Flying New as these planes do well above the prevalled weather,

the the glore from prices cloud carpet below is trying and what is the point of choosing soft colours and toning down lighting inside if the brightness from the window offends?

rubber Ink London, market

was dull with spot quoting at 28% perme-UPI.

Yesterday's Closing

COMMODITY PRICES

METALS

LONDON

Closing prices all in sterling per long lon.:

Tin spot

3-star

Copper pot

3-month

Lead and tall. Nov. 3-month Zine and hall Nov.

Feb.

Buyers Sellers ue 103

COTTON

NEW ORLEANS

is launched

A new British cable ship, H.M. Telegraph Ship Alert, was launched from the Glasgow Yard of the Fairfield Ship- building and Engineering Company Ltd. on. No- vember 7.

have

Is

aro

With an overall length of 418 feet and a gross tonnage exceeding 4,000 tons, she will

a service speed of

propellors kota, Twin powered and diesel-electric machinery by Mirices-A‚EJ. and there is also a bow prope.- ler fitted to the Voltb-Schnelder

Closing prices all in cents per design. ib.:

Spot

Dec.

Afer

Mar

Mary

29.75

31.00 702.20

13.52

11.00

LIVERPOOL Closing prices all in pence

American Contract

RUBBER

lb.;

Doc.

BINGAPORE

Closing prices all in, Straits eents per lb. Lo.b. Malayan ports:

3016-0032

No, 1 Dec.

No

No 2 Dec...

No. 3 Dec.

No. 4 Deg..

Spot rubber unboled

Blanket crepe

20-603

54-75%

No. pole crepe... 92-921

LONDON

Closing prices all in pence per th

No. 1 spot. 26-28 Geitlement honne term:

MÝ-2014

#11-201

Jan/Mar.

Apofluna

Jily/Bept.

Nov./Dec.

Usperal markets, adt, boala poridi

Fee.

Dec.

Ахлах July

Mixed Contrast

88888

Alert's first commission

wilt

be to lay a 100-mile cable in the gulf of the St Lawrence, between Corner Brook, New- foundland, and Grosses Roches, Quebec.

The operation will be carrlei out on behalf of the Canadia a Telecommunications Ovoceas per Corporation and will be part of

the primary slago of a round-the-world British monwealth cable which will

UPI

FOREIGN EXCHANGE

!!

NEW YORK

Closing rates:..

Canada England officia

Australia

Haw. Zazjand

Šaulo Mérino

MUPL

streich 32,000 miles,

now

Com-

When the St Lawrence link, is complete" Alert will take over maintenance work on the north II.M.TS. Atlantic to allow Monarchi to get ahead with the fest part of the primary stage of the Commonwealth scheme--- the Inying of a new tearasilon- tie cable between Scotland ant Newfoundland. Here, for the first time, ightweight 00-circult eablo-developed by British eu. gineers for the General Post Omicowill be used.

The launching of Alert brings the C.P.O. cable-laying fleet to four. She is around 0,200 ions gross

and among her 1,01-7/31 equipment will be the newest Lypa of V-sheave paying but

•

gear, which will allow ibu tiro-

way rigid repeaters to by-pass the sheaves and give continuity DE SAYING HELMS,