1961-01-05 — Page 2

Aj

Page Z

THE CHINA MAIL, THURSDAY, JANUARY 5, 1961.

New York stocks rise on Good prospects

war fears

Now York, Jan. 4.

Stocks rallied sharply on a groundswell of buying today largely by fears of inter- national conflicts.

Steels, chemicals, aircrafts, rails, metals, elac

tronics and virtually every stock connected with an economy on a military footing vaulted into higher ground. Volume climbed well over yesterday's total.

London stocks gain

London, Jan, 4,

The Stock Exchange con-

#

Most strel issues rose points or more with U.S. Steel ahead

Where does Britain

stand

in the great gold controversy?

By Alexander Thomson

London, Jan. 4,

around 3. Motor Where does the British government stand in the great con-

gab es rast to 2 In Fordi,

to

Chemicals

Kodak and 3

to 2- electronics

to

5. in Eostman

troversy about the price of gold?

In Dupont, oils Some of its leading members, I believe, ard of the opinion that an increase of

Honolulu, the present level of $96 un ounce is desirable.

But none has so far said so,

This Is too highly-charged a North matter for open débate in official

around 10 in JBM and 3 in Litton, Tails to 4 In Norfolk and Western and alrcrafts to 2 or more in General Dynamics, Amerlenn Martin and United, Today's volume WGS 1,800- UUD shares.

total 4,233 Pharess truded, 803 were higher and 200 lower.

American exchange volume WIL 970.000 shares,

Bonds volume amounted to $5,250,000.

Dow-Jones closing averages!.

tinued in its recent uncer-30 Industriais tain mood today but over 20 Rails came early hesitancy and 15 Utilities finished mainly higher.

A selective demand for ludus trials developed, and as pre- cluminated at the close.

British

government bunds responded to Investor buying,

especially of short-term issues,

05 Stocks

10 Bonds

€21,49

133.71

106.41

208.03

64.03

Comin, future price Index 142.33

Closing pricas

Alden Ine. Acy, Allied Chemicals

Gold mining issues fost ground | Alila Chatimers

at the start, but rated later, American Altline

Coppers were fractionally better

and tins improvod,

Oils were quiet and Irregular,

-AP.

Closing prices

Brlush Government Securities A Complicated - £43-le/15. 3. Conversion-£51.

32, Savings 1950/03--L 20-31/32. 20, Ravings 1000/7)—–RIMEL

Savings 1965/75-71-0/16.

& Insurance

Barclaya

Banks Dd. Chartered Bank-47 kl.

Hongkong Bank-£731⁄4- Lloyd Bol-71 3.

Lonbard Banking Ord—18% 4154. Di

Turmali: Ol-30% 30. Royal Dutch-Ell-10/32.

Real Engineering.

Babrock & Wileox Ord-23 4.

United Sled.

Vickers

d.

Industrials

Assoc. Elec, Industries Du Assoc. Portland Cement~70 494, Board Motor Drd--135 13

Marden Ord-la 7140. Costa J. & P.) Ord-354 91.

4d.

Brillada

American Smelting

American Tel & Tel American Tob Anaconda Cupper Armeo Etcel

Armour

Baltimore & Ohio Bethlehem Steri

Cana. Drewer

Canadian Paciile

.

Chrysler Molots

Consolidated Eisen

Colgate-Palinolive Co.

Crows Zellerbach

Cuban Amer. Bugar

Dupont de Nemours Eastinan Keilik

Ford Matpr

General Electric

General Foods

General Motors

Goodyear Tyro_1

Int'l Business Machines

Int'l Harvester

International Nickel

Kansas C. Power & Light':

Litton Ind.

$401%

530

quarters.

Yet last year's fall of £580 Mr Harold Meemillan was last million in American gold reserves quizzed about the price of gold makes it one of the big talking by Amorien's National Press Club in Washington two years points for 1931.

Hongkong - Malayan

trade improves

ago.

He would not be drawn at all. To get any sort of slant on Whitehall's views on gold you have to go back five years to the International Monetary Fund meeting at Istanbul.

Mr Butler was then Chancellor of the Exchequer, And this is what he said on that occasion: "Provided that we choose the right moment an increase In value of the existing gold re- serves would make it easier for the world to ensure that tem- Богогу balance et payments

Kuala Lumpur, Jan. 4. Hongkong trade with Malaya continued to im-Buctuations are dealt with with- prove last year and the value for the first nine out recourse to resirletive mea- months reached HK$277 million.

HONGKONG

STOCK EXCHANGE

by

113

Dur Qwit Correspondent-

70%

63

30

Business done at the Hong-

Exchange Jung Stock

this morning amounted to ap- $1,000,000. Noon 50% proximately

quotations and the morning's transactions:

Blaze Duyers Sellers

This was an increase of $28,0 milion over the same period in 1950.

sures."'!

FOR 27 YEARS

For 2 years this January 31, stold has been officially pegged by Americans at $35 an ounce.

Hengkong Imports into the

Some people say that on in- Federation and Singapore in the

Crease in price of gold would perlod amounted to $187.2mean devaluation of the dollar million, up $14,4 milion.

and all other currencles, Considerablo shipments of

textile yarn Hongkong

and The other view to take is that

[ It would lift it to a more realis Woven thread, sugar, cotton fabrics, shirts and other iren's the level in relation to the year into the local market con-present-day circumstances. tributed to the increase.

Since Mr Butler made his Intermin- Singapore and the Federation pronouncement to the.

flour, lcnal Monetary Fund, conditions also bougist more wheat dried fruit, manufactured wood have to some extent changed-u and electrical equipment from In theory anyway.

Countries who are members the Colony.

of the Fund can now borrow much large sums from it when they run into "emporary"

TEXTILE YARN

Supplies of textile yarn and thread increased from $327,000

dificulties.

for man-made fibres industry

London, Jan, 4, Britain's man-made fibres industry expects a good year in 1961 and storts out optimistically. In the WOTCH fobrics sector 1960's momentum' will carry the trade a long way into the Now Year.

This was the view of Slunet Douglas, Director of the Man- made Fibres Federation, le Fold today that retail sales of apparel have risen during the credit squeeze and the weaving

SPORTATION:

Merchant fleets

of Red Nations

growing rapidly

The Hague, Jan. 4.

trade has stepped up its output. The morchant shipping fleets of the Com.

L

HOME DEMAND

The car recession had not mode any dents on tyre cord largest outlet for output-the

producers-and lament yan

In 1901 may "any adjustment well be of minor significance."

munist countries are growing rapidly, the Royal Netherlands Shipowners As- sociation reports in its annual review published here today.

further

extension to

5.0

In a message to the Financial The Russian fleet had grown, Times, Douglas sald some de- to 3,4 million registered tons by mand was buoyant but experts the middle of 1960, it suya, and of plecegoods were unlikely to a expand, very readily, but 1900 had been a good year for ex- parts of both staple end pla

went yarns.

Douglas reckoned rayons could be expected to increase their Fhare of the bulk apparel trade.

UPI.

Rise in

steel

output in UK

million tons is planned by 1005.

"Though this feet is relative- ly small it compared with the

merchant world's

fleet, should be kept in mind that its increase since 1830 totalled 100 per cent, whereas the feel of non-Communist countries roso from

to 43 million tons

GO million tons in the same period

Airline's revenue traffic rises

An Increase

in ROYOSUG traffic of more than 16 per cent for the past fiscal year

ja reported by Scandinavian Airlines System.

SAS sold a recent board -an Increase of about 50 perceting in Oslo had reviewed

cent," it adds,

In the same period the fleets of underdeveloped countries in Africa, the Middle East and the Far East grow from half a million to four million tons.

The 'Association terms 1000

London, Jan. 4. Present plans for the British the turd crisis year in ocean cam- steel industry envisogo on shipping since the Suez

volume of world annual steel-making cap-|paign."" The

ten ocity of more than 34 irade increased by about

over 1959, but there decrease in the net 1965, according to figures growth of the world fleet due contained in a bulletin to-to fewer orders for new ships day from the British Iron and to more being broken up

fur scrup, it stated-Beuter. and Stool Federation.

million tons 4 year by per cent

was

This development would in- volve expenditure of £450 mil- on, the bulletin says, in addi- tion to the £900 mililon speat since the war.

Scottish yards near half-million total

The bulletin says the British,

will produce about But last year we saw come, industry In the first nine months of 1050 of them adopting "restrictive 24.5 million tons of steel in 1961 During 1960 the shipyards

$2.62 million in the period last year.

00

Lockheed Aircraft

*B

Loews IncorƊ. ....

2337

Lone Star Cement Co.

IIK Bank

1435 1445 30 1434

Montgomery Ward

200 1435

to

National Cash Reg. "A"

எ

London Reg.

1210

40 7215

National Land....

E. Anio

204

83

New York Central

Lombard

41

Wharf

다 200

10.

Otis Elevators...

28,40

Pacifle Gas & Elec.

104

Pan American Always

10

9%

Paramount Pictures

5420

Dock

5.3

KT

30s

Provident

. 23.00 23.80

631

HK Hotel

41 14

IK Land

Courtaulds - UC De La Hue Chinlop Rubber Ord-22 3. Elec. & Ms. Industries-41 Ford Motor Cid-143s 34. Gilman (uklings) Ords 1554. Great Universal Ord-0, 61. Hawker Siddeley Orl-28 18. Morky & Spencer "A" Orl-4. Redifurkm Ord-37 10. Rall-Inyco 478 10154. Standard-Triumph-30td. Unilever Ord-1489 1. Woolworth Ord-60% Bad

Allstru

The Firete Del-1544 44. Petolling in lust Miscellaneou

Flowmaker Ord-21 ft. Connellan Pacille Ord-19 Hongkong & China Ga-154, Indo-China Def. Onl-23%, P.&O. Giram Nav. Del.-4.

-Reuter.

New York

cotton market

New York, Jan. 4. Cotton futures today deve- loped relativo Hrmness in now crop deliveries, but overall activity was on the quint sido.

At the close the list ruled off

Parke Davis Co.

to Corporations

Republie Steel

Seceny Mobil Standard Brands

Most active

stocks

New York, Jan. 4.

Ten most activo

stocks on

Waterboat

Wheelock

Youmali

lk Tram

Ch. Light

::

0.45 7000 g dis

5000 0.55

115 10 100 44 117

700 ** 110

200 # 115

200 53.00

73 2012 2007 0 7511⁄2

17

117

2314

400 752

79370 100075

118 550 6 110 500 117 _(New) 110 113 100 112

25.00 20.70 1720 20.30 1000 14 28.00 6000 4 20.20 20.00 20.70 €900 u 29,80 1000 or 20.80 1400 e 29.30 120 20.80 5003072 1000 ** 3815 100 + 30*

Electric

Telephone.. 3011⁄2 30%

New

the New York Stock Exchange. c. Cement sales closings, and net changes respectively:

Texulib

60,074 Gen Electric-73 up 4.Dalry Farm 3113 61,100 Studebatter Pack-w-Aliled inv.

Watson 7 up

50,000 Am Mch and Fdy--a}1⁄2- up 144.

30,200 Crescent Pet-20% up

1.

1

52, 400 Certain-Teod -23% up

$1,500 Amer Motors 78% up

40,100 Sid Oll NJ-2 up %. 45,000 Brunswick —8% up 3. 42,000 Beth Steck-42% up

to up 10 points. The market| 194.

opened off 6 to up 15 points. | 34,300 Gen Moters-43 up 11⁄21⁄2,

New Orleans closed off 10 to up UPI,

15 points.

Speculation on the possibili-

ties for

higher government

support based on the new crop brought commission house buy- ing in the forward deliveries, white sollers backed pending

sway

further legislative

developments,

Farm leaders will confer with President-elect Kennedy

10-

morrow in New York where t

Take-over bid

Londori, Jan. 4.

is expected there will be a wide Fison, the

divergence of opinion regarding

farm legislation.

The wildly weather summary

sold only two per cent of the

Texas nereage remained

to

be picked. About 93 per cent of the Arizona' crop was reported picked and ginriett

£40 million fertiliser and chemical glant, Bre making a E0,760,000 take-over bid for the 151-year-old Evans Medical Group, of Speke, Liverpool, it was reported last night.

Evans make · pharmaceutich), chemical and biologieal pro- ducte

es 1000 à 15

500 100 G5

Nanyang Attal. Rub

Rub. Trust

7.30 720

Taikon Dock

701

Really Star Ferry

HK One

.. 16.10 10.20

10001

3000

1000

1000 + 5.50

15000 +

2000 5.00

1700 71

2006 7014 400+ 20 1.800 2.90 12000 g 1.80 230 40 185 100186 1000 10.20 70 610,10 500 4 16.20 100 (18.20

same

Refined sugar exports went up from $10.00 million to $18.72 million,

fabrics cotton woven $3.4 million to $9.72 million and

other shirts and men's wear from $30.6 million to $36 million.

from

exports tu Pan-Malayan Hongkong in the nine months totalled $00 million or $14.4

million more than in the cor- responding period of 1959,

The

largest

An increase value was in petroleum pro- ducts and rubber, totalling $31.32 million and $8.28 mli- Hon respectively.

Hongkong, however bought less vegetable oil from Singa- pore during the period, her put- choses amounting to $637,200 in value compared with $720,000.

Yesterday's Closing

|

measures" without taking od- vantage of these facilities.

ag compared with 24.2 million tons in 1800, which was a rko of one-fifth over 1959 pro-

the company's preliminary financial statement for the bud get year October 1, 1950 to September 30, 1900. Final ngres are not yet available.

According to the preliminary report, SAS revenue traffic dur- ing the year rose by 10.4 per cent to reach 108.2 million ton miles,

The airline's total production amounted to 902,1 ton miles, an increase of 15 percent in cam- parison with the preceding year, A total of 1,853,000 passengers were carried during the year, an Increase of 14.2 per cont.

SAS also has "SkyFreighted" 42.6 million pounds of cargo and 15.8 million pounds of mall, in- dicating increases of 27.1 and 18.9 per cent respectively.

The airline's intercontinental routes accounted for 60 per cont of the total production, the European and Middle East niet- and work for 20 per cent

near Scandinavian routes for 12 per inter-Scandinavian and domestle

cent.

of Scotland camo launching half a million tons.

year when output

So It seems that the world | duction.

It was 1958 when they lost is not yet ready to work

During last year, the industry achieved this total, since 1959 happily on a kind of internă- tional

"chit" system. It all spent about £130 has a healthy regard for gold plant as a means of international | raised payment.

But whether wo

and

SAS said the first stage of ils transition to pure-tet operations has now been completed.

All 17 Caravelle jellinors on order have now been deilvered

was also a inlillon on

routes. development and was a few thousand tons below and are in operation on Euro-

pean and Middle East

have been production capacity, to the figure.

Four Caravelles It ex- nearly 20 million tons.

Swissair under the The 1000 figures are

not leased to

be- pects to spend at least £150

stated as the known agreement nt co-operation get an in-million during 1001 to Increase fully

tween SAS and Swissair. crease in official price this year, crude steel capacity to 27 tonnago of 463,707 takes no

The seven DC-8C jet trans- next year sometime or never million tons,

account of such warships as the

ports ordered from Douglas Air- depends on the Americans.

President Kruger, Layburn, and craft Company also liave been Lowestoft, whose details are not

delivered. They have been in- troduced on SAS North Atlantle included,

The heaviest total of vessels routes and on the Polar System launched in tonnage was from routes to the U.S. West Coast the the Far East over end to however, that the world trade The bulletin comments that John Brown and Co. (Clyde Noris Pole,

Lid, who put into would benefit immensely if the the seale and pace of this bank)

Out of the airline's piston- water tho

63,000 tons; engine fleet, all DC-is now have price of gold were raised. development will exceed any-

And sterling as the world's thing 'planned for this period Harland and Wolf Ltd. from been sold and four DC-4Bs have biggest trading currency would on the Continent China" Mail

Special. benelt too.

In 1902, Britain will have They hold the whip hand so long as they can stand up to over 30 million ingot tons of the strain of being ready sellers steel capacity, mainly, due to new strip the addition of two. at $35.

be little doubt mills to the existing three, can

There

.7

COMMODITY PRICES

SUGAR

NEW YORK Closing prices, alt per lb.:

Contract No. 4 (world)

Spot-FAB. Cuba)

Mar.

Int1 Inv. IK & FE

Inv.

10.80

14% 15.00

41 1000 11

May

July

300 1815

Bept.

Climan

3 2325 10000 1

Nov.

Underwriters 13.00

Humphreys 25.36 28,20

Macan irc. 12.00

Lane Craw

.42%

Cald MacK

(Ord)

74.40

Vibro

charger to buyers.

Inclusive of London Stamp Duty

Sugar market

capitat China contracts,

0 of 5 to up 15 English points from Fisons Ltd. for the whole

and 530 to 567. American points of under New York futures,Upt. | Mall Spécial.

the share

Total Sales: 48 contracts.

Mar.

257-2015

Estate creps thin Jan.

thick Jan,

AMSTERDAM

21.

Closing prices all in guilders

per kilogram, c.l.f. Jon.

Na 1 rubber

No. 1 rubber

2.30 buyers

2.43 buyera

in cents

No. 3 rubber

No. 1 crepe

2.04

2.03

2.30

2.00

Oppn interest: 187 contrneta.

Contract No. 0 (domestle)

Opoicif. N.X, ex-duty) 6.909 Tots eles: nor Open

interest: 1306 conirsels

UPL

RUBBER

2,83 buyer

2.30 buyers

UPI

COTTON

NEW YORK

Closing prices all in cents pet ib.:

Juir

NEW ORLEANS Closing prices ali SINGAPORE: ** Closing prices all in

Staalts per b cents per lb. f.o.b. Malayan

Feb.

New York, Jan. 4. Bay biton exports for the

World No. 8 sugar futuros ports: acuson to date total 2,010,020 bales compared

today closed 1 to 3 points | No. 1 JAN with 2,100,340 bales cleared for the same time

higher with sales of 48 No. 2 J contracts. last year, according to the New

No. J**** 4 York cofion Exchange.

World No. 4 Their directors said that they.

sugar future pot rubber unbäfed Liverpool futures today closed had reooived a conditions offer clored unchanged to 6 points anxat crane

with males higher

of.15 No. I pole stebo

LONDON Domestic No. 6 mar closed urthanged with

saics no

Closing prices all in pence reported.

per. 16.7 While world to. & contracts No. 1 nou spot

Bethenn Delive Iban on Tuesday," (bes; market showest [continuing "Armineli – se pružłeśw

uvalinated".. developments Laem Culm "And welsawhere in this (√ International. Dödklier)

Agreed merchant

rates

Canadian dollar nuaximum alling 17.5/10, minimum buy- aw 17 9/10 T/T; 19%, 0/D."

Unit trust

First Hongkong FunA Buyer Price (19)

hours

**___LIVERPOOL

METALS

NEW YORK Closing prices, all in cents per 1b.:

Lead Jan.

Mar,

Zino

Jan.

Mar.

Copper Jan.

Mar.

LONDON

10.50

0.05

0.68

10.50

27.60

27.43

over

Üheir Govan yard

launched 43,520 tons in ore-carrier, oll been either sold or leased to other compaules. The remaining tanker and cargo ship; third

nine DC-UBs are likewiso to bo place was waken by Lithgows sold. Lid, with 40,871 tons of dry cargo vessels and oil tankers.—The remaining aircraft of this LPS,

Largest carrier across Atlantic

Liverpool, Jan. 5. The Cunard Line, sold hore today that. it had again in 1960 carried thò largast number of people, across the Atlantic by sea.

Three DC-7Cs have been sold.

type will remain in traffle for same years, as it has been found that continued uillsation will permit additional normal du- preciation.

CO-OPERATION

The co-operation between SAS and Swlosair, initiated in 1938, bas continued to develop favour ably,

SAS now handles all technical maintenance of Swissair'a DC- as and Caravelies.

Swinenir is preparing, on be half of both carriers, to receive and handle the maintenance of the Convair 100 Coronado-the world's fastest jotliner which SAS and Swissair will introduca in 1981.

The Hne's passengers number ed 207,503, which was 23.05 per cent of the grand total earried

The co-ordination of the two by of transatlantic lines.

carriers' timetables is continu- Of the Guard percentage, ita ing, and part of their trails has two giant liners, the Queen been operated as pool.routen, Closing prices, all in sterling Elizabeth and Queen Mbry, During the past year, SAS per long ton;

carried about 110,000 people, or leo hus participated in the, or Buyers Sellers 17.28 per

cent of the total ganiation of a now airilite ih North Atlantic passinger trade. Thailand, Thai Airways Inter- national, Ltd., which during the Cruises from. New York by budget year has had certain ·

Th

31.03

Spot

month

Copper

Spot

3 month

Lead lat half Jon.

In cents

Closing prices all in ponce per lb.

American Contrací

3-montir

Zine 1st halt Jan.

3-month

780.

780

2003

7085

22494 the Caronia, Mourotonia" and | development costs, Thai Inter-,

Britannic tock 0,820 pouple on national operations began on sun-perking holidays. Chiba May 1, 1960, 2015 Mail Special,

04

UPI.

FOREIGN EXCIANCE

LONDON Closing rates; Montreal Anistrranja BTUKO

Cop

LARDED

Paris

N StockholmAS ATE.

Record number

Quest Aarovias, SAS asociato carrier in Mexico, has com siderably increased to' trama volume, but 'the', oconomicƐre- sults have not been' favourablo, The SAS participation in Thei International and Guest Anrovias will In view of the riska involved necessitate Landon Jan. 4.

tain roadrves, which for the past budget year will compiliuto. `un British ⠀⠀ Ovaneus - Airways economie burten,

of passengers

сед

corried a record 748,900 The SAS Building in Copen- passengers last year hagen, consisting of Royal Hotel, (1960), an Increase of 31.4 terminal and BAS mica offices, per cent, the Corporation bron completed.

Final costs have considerably sold today,

alexceeded the original", exiguto? The passenger figura fór: 1950 tione, at the building has bonz was 560,942. et asjata dhe given more floor space:thite- Deut The Corporation's (frot" of planned, and the standard" o glante Boeing 707 · Jat 'olelindes i tho | hotel has been... falsed tä cama iala service during 1960, make it fully, campanuvalyt ➡China Mall Special,