1960-11-24 — Page 2

Pagë Z

THE CHINA MAIL,

Wall Street closes higher

LONDON in active trading

MARKET DULL

London, Nov, 23. The London stock exchange was dull again today and prices tended downward in light trading.

lalle buying support deve loped among Industrial shares and losses prevalled despite n few Individual firm spuis,

British

New York, Nov. 23,

Schering advanced 1. & Foundry

The stock market,closed American Machine

Blightly higher

in

24, Lition Industries 2% Union Carbide 1, General Dynamica moderately activa trad-14 and Martin Co. 1-AP. ing today.

The market was lower and active at the opening following

late cleclin Tuesday's

arned mixed around noon and then rose gradually to the clase.

Prices were near their for the doy at the close.

Brokers

werd einted Over both The advance and the

for volume

pre-holiday session. The market will be tomorrow for Thanks.

bonds government finished fuicly steady. Gold min-clased ing shares, base metals and oils suffered from the general lack

of investor enthusiasm. AP,

Closing prices

Brill Government Becurities

Consolidated......- £40.

Conv

33 Saving

J', Saving

195/70-78-14,

Saytiga 1985/75C71-0/10.

Tanks & Insurance

Harleyn Ords—671.

Chartered Bank- .

Munakong Bank-087

Lloydy Lanker 31,

Lumbard Banking Orde~18 10/21.

Union Insurance-£8-1/32.

Burmah Ou~38

CHA

Hayal Dutch-11.

Steels Engine 40.

Babcock & Wilcox

United Slol-8% 0. Vickura Ord-276 €al.

Industriala

A. Eler. Indstyle#435 Dd. Are Putland Cements 1 AR Television "A" On--284

12

Closing prices

Abilibi Pur & Paper

Steel Corp

BC Tel Co,

all Telephiune

Comrollddated Paper Consumer Gas Croute Pel

Diamond Alkal Distillers Seagrams Donion Stores

Ferro Corp

Gen. Tel & Elec Georgia Pacific Heyden Newport Human Refrix. Imperial Tobnero Lily Tulip ......

40

THURSDAY, NOVEMBER 24, 1960.

HONGKONG STOCK EXCHANGE

Our Own Correspondent

Business done at the Hong- kong Steck Market at this morni- amounted to up- 31% ng's session

Noon 39 prohnutely $3,710,000. 20% quotations and the morning's Mtransactions:

2/3

1014 Shares

2151

41

121⁄2 Bank

Unich Ins. 126 What Co.. 1.

Waterboat..

40% Wheelnek

27.40

127

9.411 1.GO

100 ur 100

$37

Buyers Bellora 1329 1330

Bales

110

Allied Cheintal

best

Alaertson & Foreign l'uwer" Am. Natural Ga

123

Norands Mines

Molson Brewery

Loulow Groccfertur

De 1024 4041325 230 124

Antslas Corp

Oiln Mathieson

nk of Montreal

55

Penn, Bali Co.

Henk of Nova Scotia

62

Pitney Bowes

42

R.D......

1000 or 0.70

7500

Beech Life Savers

45

RoytheDI

3350 ut

Republic Steel

2000

481

Schelty Ind

K Dock

107 100

100

Brill Amer Ol

271

Southern Par

British Columbin Elec.

32

Sheep Hock

200 107

Cana Bank of Commerce

5419

Stone & Webster

100

108

Canadian Pac. Raliway Corn Glary Works

30%

Trader Finance

Provident..

22.10 23.20

1000 22

000 22.10

174

JIK Matel

242

4224

1000 * 4214

23004219

3540 4232

HK Lind.

an

2100 0415

BJ 320

104 103

100

Fight

B

SK Tratu

-

02-023%

324

Ch. 1.Egl. 14.50 21.00

300 500

giving Day.

Most gains ranged from a few

around one dollar cents to

share.

Chemicals, Yesterday's Closing

Hafls,' Aircrafts, Lülities ond Selected Issues

advanced.

Cars,

Steels and

Petraletims were mixed.

577

Or 1,210 Issues traded, advanced, 394 declined and 248

closed melunged.

There were 17 new 1980 highs against 13 new lws for the [year.

Standard and Poor's 500 stock eight index gained a modest cents L 55.30 dollars.

COMMODITY PRICES

COTTON

METALS

LONDON

Closing prices, all in sterling

יי

A CHAT WITH MEN AT THE TOP ABOUT THE STATE OF BUSINESS

(Big businessmen are often at their most revealing over after lunch coffee. In this despatch Alexander Thomson, one of Britain's leading business commentators, tells what men at the top are saying about the state of things over their business lunches.) By Alexander Thomson

London, Nov. 23.

Business lunches. If they have not already become a bit of a music hall joke, they are not very far from being

one.

The etion: over-fed men are buying the extain bottle of big city investment and finance eating mehly urut dinking ex- Scotch, pensively because "wo are mot paying, cid man."

arc

at 3. Tractors. In soine Arms least the squeeze does not ap- The facts: find they

rear to be affueting output

Earlier this your the Masscy about as differen; from carica- ture ay an industrial "blue-Ferguson head short time at its factory, Production chip is frem a spivvy gold Coventry

there is now being stepped up mining share.

rgain.

"The policles introduced by the paying management are new oft. Executives are delighted with the progress.

At lunches I go to, tycoons" cat sparingly, drink very little and begin to giance impatiently at their watches from 2.15 on- wards.

And they do lak business, current 500 24.00 swapping ideas about

trends and future prospects.

Here for example are some of the pointers from labiv talk at u couple of lunches 1 at- tended last week;

1000 ur 24.70 2000

2000

HK Electric 28.00

1500 20,pu 1300 20

20.24 ז בו!

1000

20

180 28.90 1033 3 1000 or 37 50r 20

625 20.10. 2071 20

4800 01.

ardinas, Marden Orel

British Moter O14-1

44. ch.

The Associated Press average of stocks rose 40 to 215.00.

The Dow Jones 30 industrials were up 137 to 002.47.

3,000,000 Volume share rampared with 3,430,000 skares tradid Tueday.

LIVERPOOL

American Contract

Dec.

22.50

per long tun:

totalled

Mar

23.10

Buyers Sellers

Telephone...3674 Rights

37

20 20 10

Alay

23.15

Tin spot

TH019

PHD2

July

4:30

3-montti

7671

708

Oct.

233,50

Copper

spot

2202

GI. Cement

01

1000 GU

32+0.

23.00

3-month

2272:

Curtis Ord -40 del

Mur

23.95

Lead 2nd half Nov.

1174

237

3500 00

3-month

1000 G0

Mixed Contract

Zine 2nd half Nov.

072% 612%

700 1

3-

17!

Dec.

22.00

-UPI.

1000 42

M.T

23.4D

May

22:175

Dairy Farm 322;

13

2000 327%

100 w

July

24.25

1000

(31

24.20

24.25

314% Watson Allied Inv. 0.70

110

6,90

2000 i 0,70

24.24

2009 is 6.79

-UPI

Textile

9.60

Nanyang

10% 18.00

Amal Rub. 4.

6.70

Rub.

Trust

199.6719-130,727

19.37-19.3741⁄2

11.23-11.73!

ad

Cuale (3, & P. Ons d

De La Run Ort-317

Dunlop Rubber Ord-Zix!

Elec. & Mus, Industriesis 34. Citan foldings) Ort-24 £$

Ord-67x

CAPE delty Oil Finsker

Marks&Spencer "A" D

Hedifusion Ord-3x 3d.

Fall-Royce-47 Bd.

Standard Triininph-836. Unilever Ord-14

40.

Walworth Ord-54 St.

Mines

De Beers Def-1318 10:50. T'etoing Tin-7 Gd.

Miscellaneou

Bowmaker Ord2 1. Indo-China Def. On-2 d 1. O. Steam Nav. Def.-24.

-Reuter

Agreed merchant

rates

Canadian $ Maximus Selling 37-1/10; Minimum Buying 17- 6/16, T/T; 17, O/D

MOST ACTIVE

aetive The 15 prist Ten of stocks lvaneet, the declined and two were unchanged.

Ampex dropper 1 to 23% Un 62,500 shares, making it the most active issue. Second was Standard Oil (New Jersey), nif

at 39%

$1,500 shares. Third was American Motors up at 10% un 45,000 shares. Next came Metro-Goldwyn- at 40%, and Mayer, up 17 General Motors, off. 14 at 41%.

favourites were Among American Viscose, up 24. Rev- Ton, up 2. Brunswick up 1 and Radio Corp., up 1.

1, United Kennecutt

ruse

Aircraft 46, American Telephone 18. Union Carbide 1%, and Goodyear 14.

102. Mor

RUBBER

SINGAPORE

All in Strails cents per lh: No. Les Dec.

Jan. No. 2 F Dre. 3 Russ Dee. No-Fas Dec No. 1 spot unbated

FOREIGN EXCHANGE

LONDON

Closing rates:

New York

Montreal

Amsterdam

Brusela Copenhagen Frankfurt Lisbon Milan Oslu

Paris.... Stockholm Vienna Zurich

2.8112-2.813 2.74-2.75 10.01-10.62! Talkco Dock 671

$10.25-20.35

-1344-837

FA-14

0371-832

02-0214

812-81

8511-83

Rubber crepe blanket No. 1 pale crepe

71-72

881.

UPI

7.00

2509.05

4000 8.00 2000 10 00

1000 45.20 500 5.65 1000 6 5.70 10035.

37.45 1000 / 7,45 800 # 67 1000 # GT

1. Chemicals. The demon'! eurve is still upward, But some insiders wonder whether it will alter out or dip a litle in the common months.

In

Distillers Combine they

They say that in two or three years the Canadian-controllet Massey Ferguson group should be the biggest makers of the agricultural machinery in

world.

America's John Deere Enter- prise is at prezent tops, Monsey end international Harvester nu neck and neck lor eccond place,

The next move by. Massty the Ferguson? Possibly niong say that their sales of chemical lines of further unding Baky in

Europe? been have

running "nicely

4. The cable "wer." After ahead" of last year.

severe price outting Even if the curve flatttens period of

sanity is returning to the cable expect 16 making ndustry, from now Da they

increase"

Callenders show a "satisfactory

British Insulated

name

Top.

Не asked: "Can you the company with the longest non-stop record for increasing profits?"

His ANSWER: "The Gratton Warehouses mail order business. har or slump it Come boom shown n rise in profits every year since 1808," he sold,

con-

The five shillings shares De 61 shillings. This expert fessed that he had just bought some, "For long term they must be worth every penny of it," he declared.

Singapore rubber

Singapore, Nov. 23. a | Overseas advices were en-

and couraging

in the trading year to next Cables-a £100 million concern March 31.

2. Whisky, Sales at home are buoyant. The credit squeeze is helping them in the way that it has simulated clothing business.

prices opened steadier today. After early

Is feeling much happier.

Some of the worst nce with

uying the mar ket ensed alightly on upcountry and trade selling towards noon. The afternoon opened lower some shortcovering or which lower grade interest halted the decline and a slight recovery took prices to 84% a cents for No. 1 R9s, Décember.

UPI.

same slashing was in the simple endi the of the trade--by smaller firms household electric wire, making

BICC

With less money going out on things like mota cars and wishing machines the people

Giliman

-

2.30 2.473

1030735

Finnphreys

25 25,30

100 25.20

17457-1746! 20.04-20.04% 13.7844-13.70

Revity ir: Gas

73.12-73.15 12.1124-12.114

1000

UP).

Lone

41 41 1700.

700 25.10 Underwriters 11.30 11.80 52023.20 Int'l invest 0:00 16.10 1.875 1.00 10000 1.90

15.70 Inv 16.30 15 1920 10.40

163 YE 3500 15.40 Star

Macao Elec. 12.10 1214 15.40

Vibro

£0.10

41 Стан

HK & FE

0000 # 3.40 7000 2.425 00000 2425 6000 or 3.45

ele. Awkward for larger concerns. They look to this side of their business to provide part of the heavy re- search and development expen- diture reeded for their complicated products.

MOTC:

The normal pattern is begin- to emerge again. It is ning

helping to restore profits better levels.

Exchange rates

Benipa wae

dono in

the local unofficial exchange market this "nar at the following rates: us, doller (per #1) Sterling notes (per 21)

Australian notre (per

5.00

to

14.80

Siam ticals (per 100) Singapore (Straits)

Indonesian rupiah (per 100)

1}

12.65

3.30

20.17

1.80

5. Mail Order. Finally this challenge from the head of

BOAC's

new

707 S jet-powered by Rolls-Royce

HONG KONG — TOKYO – HONOLULU — SAN FRANCISCO 3 TIMES WEEKLY With 2 Rights continuing on to New York and London. This new trans-Pacific service offers you a choice of luxury First Class or low-fare Economy Class-either of them gives you the personal attention of BOAC's perfectionist cabin staff - British and Asian personnel whose sole aim is your comfort.

Trans-Pacific-from December 11th on

B・O・A・C

NEW LOW ECONOMY FARES!

The new Economy Class Fares, considerably lower than present Tourist

Class, will apply on trans-Pacific routes from December 1960,

B R I T I

S H

O VE RS EA

DRUMC

See your Travel Agent or Jardine's Airways Department. Telephone 35111|2 (24 hour service)

B・O・A・CL7

ROLLS-RO

07

ORA T