1960-12-07 — Page 2

THE CHINA MAIL, WEDNESDAY, DECEMBER 7, 1960.

Wall Street advances on The tables are

London late rally

New York, Dec. 6.

closes A late afternoon wave of support carried mixed

London, Dec. 6... Lack of buyers becalmed

stocks and brought

а

the stock market into higher ground today with many depressed blue chips leading the advance.

HONGKONG

STOCK EXCHANGE

by

Our Own Correspondent

Businers done at the Hong- rankong Stock Exchange this morn-

Steels, chemicals, electronics, oils, aircrafts and specialty issues scored the better gains. Several of the recently strong food stocks into profit-taking.

anst

Comunere Ch Continental Cam

Ing amounted to approximately $4,200,000. Noon quotations and the morning's transactions: 10

Sales shares Buyers Sellers

1420 14342 60 1430 111 Back...

158 4 1425 30. 1423

541

32

Comentat Ol) of Del.

53

Cirale Pet

27!.

sel

Craire Co.

47

Lombard Ins.

45

Cuban Amer. Sugar

344%

and

Delaware & Turan Co.

on 16.

18

Whart Co.

68

Wheelock

BK Dock..

115

C. Provident

100 0 124 134 $55 $5000 + 11.35

1000 110 000 or 110 400 @ 117

24 24.0 2000 1 24.20 200 24.40 15003420

Steel gains of a point or more Consolidated Paper slow drift to many in-invinded U.S. Steel, Inland, Sharon, Union dustrials, but active and | Lakers firmer motors made the Carbide ros around 2 on news

rocket cal $3 million exception.

while Dupont contract Fords advanced 2 shilings Thiokol added over a point.

IBM rose round pence to 130 shillings 14 perce on news of the decision to pay electronics where most stockholders as fal dividend of thithed ahead by more than a 1215 per cent if they accept the point. Boeing, which received Detroit offer.

In new jet plane $350 millon

and polist

Steels were dull, engineering mixed and stores were irregal Leaders e imperiul Clatalent Industries, Unilever and Cour- taules edget lower, Tobacco

changed, Among Internationals Philips Lamps lost rly 2 shillings to 239 shillings 41⁄2 pencel

WWFL

ittle

eritracts, rose stimulated others

A

the 7 in

Dimond Alkali

tillers-Sengranys Dominion Stores

othera | Dow Chemiest

in the group as much as 2 points in Chance Vought.

Today's volume was 3,300,000 |

shares. Of a total 1242 truded 503 were higher and 426 lower.

volume

American Exchange

Dollars stocks took their eur from Wall Street and receded.--, was 1,200,000 shares. UPI.

Closing prices

*kish tavernist Securities

Causestufatral- £44) 2

30220 Denvelsign. Elora je

a. Savana 1995 R

37. Having 19

"Itanks & Insurance Baris Ord - 1 Ad

Bank--- 31. Tungku Hank---£75

luye an75 Unica Lasuramer--E7

On

Burmah 011-37.

yal Dutel-ED¥.

Steels Engineering

1

Hack Wifes Del-334 1.

United Steel-BCA $120. Vickers Ord-08 7490.

Industrials

Assoc. Elee, Didurtiin 40% skl Assoe, Portland Comented. Ind. Boardman, Marden Ord- 44 Nd. British Motor (ke-15 f Coats & P.) Ord- St.

Courtauld, Ordi

7id.

· Hur T-304 30.

mon Rubber U-21 415 it.

Flee & Mus. Industr

For Matur Old-f

oking Cirral Univerand Ord-45

Hawker Siddeley - Gd. Marks & Spencer "A" Ond-80 36. Nechfusion Ord By Tal.

Hall-Royce 14

Standand Tamura 104 412.

W

Ora- tis &c.

D. Beer B-149.

Petaling Ta... 2+ Bd.

Silcetaneous

& China G-137.

2147 Def Ord-21 0.

P. & G. Sten

101

Nav.

Dupont de Nemours

Extern Alr Line .. Ei Paro Natural Gas Family Finance Corp. Ferro Corp. **** First Nal. City Bank Ford Motor .... Georgia Pacte

General Dynamies Geheral Electric General Foods

1

Yaumbil

(Bonus)

10 Bond:

Corn, future price in-

dex

Closing prices

Abiti Pwr. & Paper

507.11aminad Orgen

Heyden Newport Corp 126.86

Walker 90.35 lumestake Mining Co. 159.32 Husman Refrig.

Idaho Pawer 84.24 Imperial O

Island Steel Co.

142.16 Interchemical Corp.

ful Business Macisines Int'l Harvester

International Paper

Jati Tel & Tel

Katser Industries

591 Telephone. 37%

54 Telephone

Electric

4235

600 21.10 200 24.20 thin 24 20 74 10 1000 5 4274

1200 6+ 717 3300 To 2

200 in 2014 17

SOU or 11

400 W 114

100 va Jay

60 or 100 300 (34 500 g 231⁄2

to

turned on U.S. producers

By a special correspondent

New York, Dec. 6. American producers are meeting intensified. çom- petition from abroad, both in domestic and in foreign markets. The tables are turned.

what the American That is the theme-disturbing | ke

American businessinen-of economy bas always been- agaros the findings of the National dynamie, progressive, Association of Manufacturers, sive, and intensely competitive." the powerful, conservative or Today, foreign industrialixis ganisation of leading Industrial are just as enterprising and go

United States ahead as the traditional Ameri- Arms ju the which is being circulated to its can. 30,000 uxanbars.

In a pamphlet called "Foreign Challenge for Compofition- A America," the Association calls upun buth government and big

take business

Immedinig steps to meet the threat.

The way in which British en- terprise is going out after mar- kets is lauded in the Associa tion's analysis of the thrashing that Americans are now taking world's trading areas. in the "Permanent trade centres have buen established in the United States by many foreign govern- mcnis, and there has been much greater use of trade fairs 10 promote exports" the reopri says. "The outstanding success of exhibition in New the British York in 1960 is an example of what can be done when expense As Tel spared and the project well thought out.”

pointed out, Americans, it is have much learn from foreigners in techniques for, de veliping and explolling markets throughout the world,

1K Hotel..

4234 423

shares

713

General Motors

40% Land..

7054

71

Gea, Pub. Util.

Gea, Tel. & Eler.

Gun. Tym & Rubber Gelly Di..

4914

Goodrich B. F.) Co.

4013❘ Youmuli

114 115

Bonds volume amoupled $6,030,000.

to Golyer Tyre

35

Dow-Innt's closing averages:

Industials:

Great Northern Railway Grunan Aircratt Gulf Out

281

320

HK Train

33 13

331

cit. Light

Ex. Div.

26.70 20.02

20 Rails

400

Is ties

500 + 27 1000 or 21

400 27.10 1500 20.00

as Stacks

500 2,14) 1340

20,80

500

26.00

28.00

30 1300

30

38 2000 3854

GUO 38

$30!

Johns Manville Co.

Artva Ing. Any

49

Altura Steal Corp

3

40

Kennel Copper

731

G..

Right 92%

42521

200 & 8335.

Aited Mills Inc.

J5

Kimberly Clark

*3x

Aura Chaltnera

Am. Brake Sho

3735

American Airline

19

Litton

Lily T

Liggett & Myers Toh. Co.

823

Dairy Farm

34 34

1500 345 1900

1800 un 143%

Am. Cutie & Rudlo Corp

A

Lockheed Aircraft

100 341

Ame lean Cyanamid Co.

40

Inews Incorp......

* મધ

Amt: & Forun, Power

722

Lone Star Cement Co.

Waikol

371%

33

500 3714

300

272

per

Am. Gay & Electric

176

Lowenstein & Suns

15.

McDermott J. Ray

24

Merck

isti: Allled Inv.

BOXA

8.30

8.40 TODO

8.40

1000

6.13

2000 2,30

74

Megabi Tron Corp.

BS

Minnesola Mintrig

20

Mission Development

9431

Monsanto Chemical Co.

0014 Textile

42IL

2000 8.35 0.20 9.30 412401

6125

Montgomery Word

Allied Chemient

Am. 16me Prod

Am. Much, dry

Amerton Metri

Al. Nature Gus

Americas Smelling

Am. Sugar Ref,

American Tel & Tei

American Tob Ameenda Copper Armunts

All Cons. Minina Batwa lina-Ham telimare & Oliko

Bank of Montreal

Bank of Nova Scotia

Beer Life Savers

6. TeL CO.

Deli Telephore

-dix Aviation Carp,

---Struter.

| Benguet Con

Hethiewen Steel

504

International Nickel

40 Motorola Inc.

3754 National Discult Ca,

5 Wallana! Cash Reg. "A"

14 National Dairy Prod

500 or 29.00

3000 9.45

300 9.40

4000 9.39

2250 or 24..

2500 16:30

0.03 31 1000 3,70

2000 4.65

12000 a $.03

14 7.35 1000 61.30

735

650072

200 22 3000+ 73

2400 4173

3000 e 9%

Nanyang

10.10 10.30 1000 100

1000 10.19

2015 National Lead

3000

Noranda Atines Lid."

3500

10.89 let,

64

Norfolk & Western Ry.

9115

49

Worth Amer. Aviation,

A. Rubber

127 Northwest Airlines (Com.)

147%

4732

Oxlabama Nat. Cas............

1

Olin Mathieson

3R. Trus!

1PA

Oils Elevators

Taikoo Dock

Owen-Illinois Gines

вз

Nosing Airplane

Oxford Paper · Co.

3971

Borden (The) Co.

E33

Erilla Cobambin Elce.

Burroughs Add Machine

283

Phelle Gas & Elce.....

5-116

Pan American Airways

Calif. Packing Cen

41.32%

Partiount Pictures

Penny J. C. Cu.

Cm Bk. of Comm.

*1

Jenn Bal Co.

'nadian Pacie R.

214

Philip Morris

7%

****

Crimery Cup Chase Manhat Bank

21%

Pittsburgh

Procter D

Pitney Bowes

Realty

НК Соб...

Glass

Poland Gen. Elec,

:

00

Publcker Industries

3014

Fushian

Clit Peabody

0214 Pure O

West German Deutschemarks: Maximum Selling, 12 5/8.

Commercial Credit

Ma

Coming Cl- Works

174

unit. Ted Edton

64

Agreed merchant

rates

Canadian dollars: Maximum Seting 17 1732; Minimum Buy- ing. 17 9/32 T/T, 17 11/32 O/D.

Belgian Francs:

Selling. 803.

Maximum

Cuna. Biewerk

Case 14. I.) Co.

Cat. Troclor

Chrysler Melaye

Reynolds Metal

Humphreys

400 13

25.00 21.30 1000 20.10

3500 or 25.90 ....1.05 1.975 17000 1.05

10021.075

15.90

16

1300 10.10

100 16.20

1500 of 10

1006.10

1500 10

2000 13.90

1000 4.10

1000 25 2.55, 15000 ft 2,623

Vibro

Ollinan

24.80 216

ILK. & F.E

Inv,

154 15.70

500 15.00

NO LONGER

of

cert. At the same

Japanese

were

mar-

Asked Why cameras, for example, American flooding the

ket, an offolal of the N.A.M. Rald, "The

Japanese goods which used to

be merely

PORTATION

Sale of 1,000th Rolls-Royce

civil aircraft

London, Dec. 6.

irouble is that The British firm of Rolls-Royce has an- nounced the sale of the 1,000th civil aircraft powered by the Company's gas- turbine engines.

cheap are ΠΟΥ Cheap AND good." The

notions or Westora Europe and Japan live raised their productive effelency by sticking to the principle of sound money, the free market and the

encouragement

The netual total to date, said Mr J. D. Pearson, chief excru- of tive and deputy chairman, at a

|

can Airlies, Including the Pou- American Airways 707,

Mr Pearson said government. private enterprise, the report luncheon to mark the event, aid would not necessarily mean

1,009-the asserts, wON

1,000th enle the

lose sweepingly

government Would somewhat

made three or money, "It could mean nothing shown more con- having been They have

four weeks ago.

to the taxpayer, er even a profit, cern than the United States hos In recent years for the control of

"Selling engines for the next as the government gets back ald inflation, perhaps because

thousand aircraft is going to be of this nature through royalties." have had more experience with

Mr Pearson-Ching Mall Spesial. difficult," say the its damaging effects," N.A.M. experts.

MONOPOLISTIC

they

"They have demonstrated the kind of Interest in, and abilly for, technical innovation which used to be considered a special

American

characteristle of the economy,"

Besides urging more dynamic to selling methods abroad, the re- In the seven years 1953

complains of "the mono- finished port 1960, exports American manufactured goods polisle power of labour unions will have shown a gain of only at home, which it nails ns "the

of source

321- tana fundamental cent. During the В рег perlod, the report says, worldflation:"

On the question of Americon manufactured Rems trade in wil have increased by about 60 firms which export their capital thne, and know-how to set up fac

clefi Ameriem imports of Anished tories abroad, the Association

finds itself in ગ manufactures have gone report about 2 times in those seven

It acknowledges that this is a loss to the American economy years.

No longer can American

the goods can be produced fl business rest on the complacent home just as productively. On

hand, it would ussumption that it has the best the other product, the newest product have controls at any price.

efficient method: and the most

It has no comment on the and equipment.

chief | Ford take-over, Henry Ford I problem at prosent," the N.A.M. has consistently refrained from report admits, "is that the Was joining the N.A.M., which he tern European and Japanese'l considers too conservative for economies are becoming more him-London Express Service,

The

stick.

COMMODITY PRICES

RUBBER

NEW YORK

Rex rubber futures closing prices, all in cenis per lb

Jan: 20.51; Mor: 23.05; May: 28.03; July: 2.60: Sept: 30.00; Nov: 28.50. SINGAPORE

នូវមុន។

not

Mar.

May

July

Oel.

Dee.

MBT

July

ib.:

LIVERPOOL Closing prices all in pence per

American Contract

Dec.

Mar.

May

cunts

per lb.

*July

Oct

ports:

Dec

No. 1 Dec.

Mixed Contract

No. 1 Jan,

No. 2 Dec.

84-841 8374-842

Dec.

21.05

No. 3. Dec.

8212-63

Msy

23.60

No. 4 Dec.

24.2

Spot rubber unbaled

B4-8474

Blanket crepe......

7116-732

Oct.

24.29

Dec.

24.20

8815-091

UPI

Closing prices all in Straits fo.b. Maluyon

Mar.

July

METALS

NEW YORK

283238 2523795

moro

added.

Changing circumstances in the world aero engine industry had competition into sharpened

something approaching a fight for survival.

If the company's skills and achievements were to be used to the best advantage there had to be continuing and even relationship closer government.

WESTERN WORLD

World shipping tonnage rises

with World

Of a total of about 1.700 civil aircraft with turbine engines cold up to the present in the Western world, nearly 60 per with cent had been ordered Rolls-Royce engines, Mr Pear- son said.

when the

Arst

London, Dec. 6. shipping tonnage increased last

year by

4,834,000

tons, Lloyds Register reported today. The Register puts this year's at world tonnage

folul 129.769,500 tons.

Nuilonal distribution of the increase followed the expected pattern with ano noleble exception Gracze,

The development had taken

The register indlented that place in the seven years since repetition of Greek - owned April 1953

rhips from "ag of convenience ' Rolls-Royce-powered paxenger-nations-especially Liberia and n front Panama made Greece carrying gas turbine engined Visccunt, went the alrerall,

Tuw maritime nation, operation into regular airline

This development la so fast, with British European Airways. Lloyds saft, that the time ing

85

1

Of the 1,009 aircroli, 821 were in conarming Greek Aguros is British built, 192 American, $4 greater than in the case of any Creeee, said the 17 other nation. and Dutch French,

claimed an increase register Canadian.

from 4.700,000 tous in July to over 5 million tons in October.

About 80 per cent of the clvi! turbine engines ordered from the company were for overseas customers.

וכלת!

SINCE 1939

Other 5 tonnage figures ever- are: Great Britain and Northern This had made on

Lo the Ireland 21,131,000 (increase growing contribution

Briifth Com- £230 million worth of export [374,000), total

monwealth tonnage 25,830,000 business of the company as

051,000), Norway whole since 1933 and to exports therape currently running at nearly £96 11,283,000 (Increase 750.000) and (increase 6,031,000 million a year,

635,000).

The Iberian total has fallen by 064,000 10 11,282.000 ཝཱ ཝཱ ཏི Asked about the need for Peruma by $47.000 to 1,230,000. government financial help to the United States at 21,837,000 company. Mr Pearson said the tars is 451,000 tone down. need was urgent now.

Tutal world increase In Molpe 1939 is cinated

GOVERNMENT AID

Discussions were taking place ping cince

United on specific projects with the at co mill'on (ens, the

13 millian, government and he was optimi;Slatea corfribuling

Liberia with 11% men. No tie about the outcome.

way 64 million, Great Britain The firm, he said, had asked and Northern Ireland 3 millwrz the British government for "the rect 3 million. The same amount of support our United States ictal includes a main American rivals, Prait-reserve flect estimated at 1314 And-Whitney, get from the million tons. American government."

The world total of oil tank- Among Rolls-Royce engines ars went up last year by 3,575,- Closing prices bil in cents per are the jet engines used in Bri-000 tons bringing the total to tish Oversees Airways Corpora 41,485,000. This is 32 per cent and of all steamships and motor- tlon's Boeing 707 aircraft

ships compared with 30.3 per- the Viscount aircraft of REA

Pratt-And-Whitney make the cent last year

.... 2315-20

Setticment house Jan/Mar.

2416-251

July/Sept. Nov/Dec.

25-2514 23-253

General markets, c.lf, boats, Dec. Jati. Estate crept thin Dee:

1b.:

Lead Dec.

Jan.

thick Des...

20%

Zinc

-UPI.

Dec.

Jan.

Copper Dec.

Jan.

LONDON

10.20

10.16

21.06

11.9

28.40

28.30

The one gift they all Love...

Suchard

SWISS CHOCOLATE

FAMOUS THE WORLD OVER.

Suchars

Radio Corporate

Radio Corp.

Staytheon...

Hepublie Steri

Reynolds Tobacco

Royal Bank ni L'auda

Пoyal Dutch

Shell Oil Co.

Safeway Store-

Saint Reg. Paper

Seltenley Inc.

Scott Paper

Siegler Carp.

Sinclair Ou

Smith. King

Frenc

Socony Mobil all...

South Puerto Rico S. yar Southern Natural Co

Southern Pacille

Southern Railway (Com.) Standard Bi

Standard Oil er Cal.

Standard Out of Ind.

Heep Rock

Suring Drug Co.

Stokely Van Camp.

Shone & Webster

Studebaker Packard Corp.

Sunshine Mining BWIL&Co.

Texas Co.

Textron Inc. Thlokai, Chem. Tide Water Oil

Tradera Finance

Travelers Inc. Tri-Cont. Warrants

Twentieth Century Fox Tilm Union Oil of Cel

Pacific laway -

Union Aircraft

insed Fruit

U.S.

UB. Setling

U9. 3tec!

US. Steel 7 PC. Pr

Warner Bros.... Waukesha Matar

Westinghouse Air Broke Westinghouse Petrie West 30. Pulp & Paper Winn-Dixie Store! Woutworth (K. W.; Zenith Radio

Sugar market

New York, Dec. 6.

World No. 4 sugar futures

No. 1 pale crepe

today closed unchanged | 16.

LONDON Closing prices all in pence per

to a point higher on tales No. 1 This spot of 119 contracts. Domestic No, B sugar futures Apr/June finished unchanged with no sales reported.

Prices wound up nearby un-Jan Feb. changed today but trading, in the world market was somewhat livelier after reports that indus- trial consumers are asking for 44% eliminution of quotas, making supply and demand the

15 dominating factors-UPI.

Most active

7

stocks

New York, Dec. 6. Ten most activestocks to

day on New York stock exchange, sales, closings, tet. changes respectively were as follow:

1.

37,800 Chock, F. Nuts 72% off 71,800 Bald Lima 14% up. 60,000 Boeing Airp. 38% up 14.

04,800 Foremost Dairy 1514 $130 Std Oll, NJ 38% up 4 40,500 Láb Me N And L 114

up

Up

SOLE AGENTS EDIA KELLER & CO.LIDI

4,600 Alumin Ltd 21% up,

31,100 Gen Tel and El 201

wp 34

20,000 Texas Prod 2011 tim

Instalment plan

debts decline

mililon

month

London, Dis. 6. Britain's light credit rqueeze sent staiment pian buying debta` down by against the previous inating the average full since August, E pillion a month.

This Eritrasis

the with of £20 million avdragó risa per month la 'the' period November 1038 to Apr 1000 before the government imposed brakes, Board of the credit

showed today. - Trado. Ogures UPI.

1

Exchange rates

Businese Wi itable in the local tita official exchange market this morn

at the following rates: U.S. douar (per 1

ring notes (21) Australian hotes, (per 41)... Undonesian rupiah ter 15a) *** Mit Licals per 100) N Bingapore (neralul)

Closing prices, pll in cents per lb.:

SUGAR

NEW YORK

Contract No. 4 (World)

JRN.

Mey

July

Sept.

Nov

Spot-(F.A.3. Cuba)

Total Sales: 112 contracZE. Open interest: 3.009 contracts.

Contract No. 6. (domestic)

Mar.

[exėduty)

Jan. Spo... NY.

Total Sole: none,

0,00

8.90

5.59

Open Interpt: 140 contracts—UPI,

COTTON

NEW YORK

Closing prices all in cents per

Spot

Mar

20.15

July

Closing prices, all in sterling

per long ton.:

Buyers Sellers

Tin

Spot

7005%

200

3-montli

7301

Copper

Spot

23414

3-month

230%

Lead ist halt Dec.

3-month

Zinc let half "Dee,

3-month

FOREIGN ANCHANGE

NEW YORK

Ciguing ratest Canada England officiel

**

Australia

90-day

Bouth Africa

New Zealand.

1.1990 0130

Belgiuin

020460

Other unchanged.

LONDON

12.30

Closing ratos:

32.47

New York

23.85

Listun

23,40,

NEW ORLEANS

First Hongkong Fund; Huyệ nhất: TIỂU

Closing prices all in' cents per Zitana.

Spot

Parts Stockbohn

Visi

Unit trust

Montreal

Arom

Bruselsattın

Copphhagen

*mokturi

28,100 Clem Mótars – 40%1⁄2·DIT |

UPL

and 10.9

per

engines of jet stveralt of Amer-cent in 1039,-AP.

・

1.02-7/10

Headquarters

FOR

XMAS DECORATIONS

THE EVERGREEN

Buddall Street, Hong Kong. 300 Hathan Road, Kowloon