1961-01-10 — Page 2

THE CHINA MAIL, TUESDAY, JANUARY 10, 1951

Wall Street registers

a

broad HONGKONG

STOCK

increase EXCHANGE

Nów York, Jan. 9.

Stocks registered a broad, healthy gain

today in brisk trading.

Steel issues were in prime demand following news of increased production and gains of around 2 in Lukens and Youngstown set the tone for the rest of the market.

Motors. iis, drugs, metals, Kennecott Copper

airlines Lition Ind.

Most electronics and

moved into higher ground white scored one of the rall stocks their best advances in a year.

Volume was aided by a big 500,000-shore

first hour when the inpe ran late on several oc- casions and again at the close,

Gains rub past three points

in Cusden Petroleum; Polaroids, Norwich Pharmacal, Lehn and Fink,' Revlon, and Endicott

Lockheed Aircraft tarews incorp.....

one Star Cement Co. Montgomery Ward

Our Own Correspondent

Business done at the Hong- this kong

Exchange Stock morning amounted to approxi-

mately $2,750,000. Noon quota- tions and the moming's trans- actions:

Bhares Cort. 35

Buyers Heller

Bales

28000 83

110 1440 70 1443 30 1440 10 1440

30208

211

Lears (940) Bank..

1440 1443

80

24

235%

43% E. An

200

2015 Lombard

BERS

Maturola Inc.

77% Whorf

208

National Biscuit Co.

71 Waterboal 20.30

National Cash Reg. "A"

63

Wheelock..

0.45

0.70 9000

Во

B17

25

Dock

117

110

100 ve 112

1724

200 or $17

100

E00 117

1800 24

National Dairy Prod.

| National Lead

National Steel Corp. New York Central" Norfolk & Western y. North Amer. Aviation oklahan Nat, Gas Olin Mathieson Da Elevators

Pacific Gas & Elec.

Paramount Pletures Penn Soit Co.

Johnson while Hellance Elec-Pan American Airways tric, Dupont, American Seating, Newnout Mining. Aldens, Con- tinental Oil, and Rexall Drug added around 2 or more,

Norfolk and Western, Illinois Central and 1 and O rise more than a point each in the rails, around Piper Aircraft dropped

2; Dr Pepper lost diver 1: Mine neapolis Honeywell felt 2 Furd Motorola rose 2, gained 1%,

AMP added! 12. and United

Airlines rose around 14.

Dow Jones closing averages;

30

lustrials

20 Rails

15 es

65 Stocks

Procter & Gamblo Co, Puteburgh Plato Glone Radio Corporation Republic Bleol Reynolds Metal

Krynolds Tobacco Sinclair Qi Socopy Mebli ólí

Southern Natural Ga Standard Brancis Standard Oil of Cal. Standard Ol of Ind. Standard Oli of N.J. Sterling Drug Co.

Stokely Van Camp.

Studebaker-Packard Cors.

Swift & Ca

Texa Cu

Textron Inc.

024.42

Thiekol. Chem.

137.41

Tide Water Oil

40 Bands

Twentieth Century Fox Film

100.40 Union Carbide

210.20 Union Pacile Raliway

Comm, future price index 142.40

Closing prices

Alden Inc. Acy.

Allled Chemicals

United Aircraft

Aleti Mille Inc.

All Chalmers

404 Provident . 24.10 21.20

43%

75EL II Hotel.. 414 4154

Japanese interest in development of Singapore industry

Singapore, Jan. 9.

LONDON STOCKS DECLINE

London, Jan. 9. The stock exchango was depressed today by now signs of trouble in the British automobile indus try, including a decision to foduce further the working hours of the Ford Bogenhoiti plönt

Brith carmakers have been

hard hit in recent monthis by

domestle credit restrictions and

sharp dceline In export demand for their product.

The Finance Minister, Dr Goh Keng Swee, said

today that there was widespread evidence of a Japanese interest in the industrial enterprises which it proposed to set up in Singapore in the near future.

On

A

The Minister was speaking the opening of talks between the 1WD Governmenta double taxation agreement. The formal discussion will begin to- morrow.

as a future industrial centre in southeast Asia.

A few

bright spots were noted among steel and engineer- ing issues, but motor shares were uniformly gloomy.

British

bonda government

to widespread were subjected

"We highly esteem the fore-lesses under light selling pres sight and vigour with which sure.-AP. your Government has under- taken this difficult, yet promising

added.

In reply, the Japanese Consultsuk General Mr Kensaku Marda, 9.5sBuid that Singapure was be 5000 918 ceming Increasingly important

2000 $2,70

500 of 24.20

3500 1 24.10

500 24.10

1000 4155

1500

41!

70 2117 G

2000 76

050 119 100 110

101

2014 HK Land ..

151

133

73%

Yaumall

110

(New)

112 113

401%

HR Tram..

334 33

391,

C. Ligų".. 26.00

27

2000 25.EMO

Electric

200 112 1500 or 3315 250031

300 3312 2000 14 331

500 20.00

LUXO / 27.20

DO07.10

Labour contract approved

Santiago, Jan. 9.

A now labour contract at the big El Teniente copper mine was approved this morning by a union meet- ing, just three hours be- foro a strike deadline.

Under the agreement, reached

of industrialisation," he

Mr. Maeda said Japanese in- dustry had only made its first step in establishing a stronghold, and pointed out the significance of the fact that Japanese enter- prises had decided to set up factories here un their own Initiative, without government arsistance.

He said that the negotiations had been starled to pave the way for further developments in future and that capital invest- ment and technical assistance would be increased by degrees.— Reuter,

ver the weekend, the 600 Scrap copper

3000 v 27,19 workers at the mine will get a

500 27.30 100 & 21.10 1500 $127

100 27.10

500 620.00 2000 6 27

20.70 29.90 500 29.00

300 30 2000 or 29.09

100 630 1800 / 29.90

30 1200 39

1111 0515

200 6 00

1000 651

100+ B

1500 6 654

100

300 3

84.00

301

US. Rubber

U.S. Gypsum

1021)

Telephone of Cement

480

US Smelting

201

0.5. Steel..

DO

Warner Bros.

Westinghouse Electric

Dairy

Form 3314

33

$6314

Winn-Dixie Stores

3744

61

Woolworth (K. W.j

431

1000小紅

30

Zenili Radio

2004 33

UPI,

Watson ..

401

Наруда

Allled Invert. 1.10 8.20 Textli

7%

5000 13.20 231 000 13.40)

2007,60

1000

2000

A. Rubber.

Rubber T Talkoo Dock 71's

5.00

3.05 2000 15.83

1000

7.15

400 500

Really .... 1.55

20000 1,90

10.30 10.40

15%.

Lane,

Ent.

Vibro

15.30

4000 € 5.00

10.30

30000 1.873 100 107

1000

370 6 10.20

10.30

3000 18.40

35 per cent wage increase pius

a bonus of 135 escudos ($135). The miners originally asked for a 50 per cent increase.

El Teniente mine is owned by the Braden Copper Company, subsidiary of Kennecott, which has headquarters in the US

New York, Jan. 9. The US. custom smelter buy- ing price for serap copper was reduced

one-quarter

pound today,

cent

л

to

This brought the price for No. 2 copper wire scrup down

cents a pound, equal to 22% about 20 cents a pound for re- made from the fred copper material and available for ship- ment three months from nort...--- AP.

The strike deadline, originally

pust for January 7, was

while Monday poned .unill negotiations continued.—AP

Yesterday's Closing

Closing prices

British Government Securities 25. Coniolifated-24 36, Convention £50.

3. Savings 1935/03—250-1/10. 3. Savings 1960/30-478-7/18, 35, Bavings 1003/75-70 x

Banks & insurance Barclays Orch¬GBs. Startered Banke, Hongkong Bank-734 Lloyds Bank- £73.

Lombard Banking Ord-19 19

Burmah O 34. Royal Dutch-21334.

"Alerts Enginnering Babcock Wilcox ordi-22# 7140. United Steel-803, Vickers Ord-20 34.

Industrials

Asoc. Eles, Ridustries- G Aec. Portland Cement-75 0. Boardman, Marden Ord-49 9. British Motor On-15s 72d. tools (J. & P.) Ord-Ge Tipd. Courtaulds Ord

De La Rue Ord-677150. Dunlop Rubber Ord-21. Elec. & Mus. Industries–431. Ford Motor Ord-143 $ch, General Elertela Ord-31 d.

(Holdings) On!--28 10:50. Great Univeral Ord-50. inwker Siddeley Ord-93. Martin & Spencer "A"

Rodifusion. Ord-381 10:44. Rolls-Royce--121) vd, Undiever O13400. Woolworth Orcheāla sul.

Mines

De Beers Def--1408 30. Petaling Tin-7 7:50.

Diiscellaneou

RANSPORTATIO

UK interest in South American

project

London, Jan. 9. The possibility that the Lithgow Group of companies in the UK-one of the big- gost private shipbuilding organisations in the world--will establish shipyards in South America, was announced by Sir William Lithgow, Chairman of Lith- gows Ltd., on his return to Scotland recently from a six-week tour of South America.

He rald i was probable that the Lithgow Group would begin to invest in one or other of the Latin American countries, not only for economic reasons, but to provide an outlet produels. "Shipbuilding

he said. is being considereal," "alid this need not necessarily

für its Hecif

be confred to snofler craft."

Later Sir William announced: Ord-631"Our old cilents, the Jamalen

Bowmaker O-12 30. Hengkong & China Gae-16s. Indo-China Del. Ord-253

P.

14d.

O. Steam Nav. Def.Als

- Reuter.

COMMODITY PRICES

SUGAR

NEW YORK

May

July

Oct,

Star

May

July

8528238

LIVERPOOL

Closing prices all in pence per

Zine at half Jark .... 3-month

701%

UPL

RUBBER

您

Banana Producers Association, have confirmed their intention to sign a contract with us for 200,000 the construction of a cubic ft. fast banana carrier for We Ühe UK/Jamaica service, have promised to do our best to deliver the ship in time to re- place the Jamalen Producer, built by us for the same owners before the war."LPS.

Turbine tanker completed

over to

Many Far East bookings

London, Jan. 9.

Lin-

On Baltic Exchange, the week has started on an unusually activo noto with most of the interest con- toring around the For East. Chorterers booked an named Greek motor vessel for the mavement of 11,500 tons 5 per cent wheat in bulk from the western alates of Australia to North China over January 20 to February 15 al 00/-. Another booking

this in of a direction WON

British motor vessel with 10,000 tons 13 per cent wheat in bulk ex-silo or hvo voyage commencing January 30 February 22.

There is an allernalive for the vessel to lead at New South Wales, and the rate of 00/- was agreed with 1,500 load at current discharge rate and 1,000 tons frce.

The movement

of 8,000 Lans & wer cent sugar in bags has beer arranged in March 20, to Aprili 20 position from Calms

of 17/6

London, Jan. 9. The oil tanker Mobil Apex, 19,000 tons deadweight, has been completed and handed

Mobil Tankthips, Ltd., by Alexar Urangan and Calris 10 ander Stephen and Sons, Hongkong aboard an unnamed

vesel, and the ralo Ltd., Linthouse, Glasgow. She is the second of two penice was agreed with lighte

rago down to 20 feet at Hong- similar vosols ordered.

kong for owner's account and i current With a single screw and tur- with 600 tons load

rent rate. bine propulsion of 0250 h.p., she rate: 000 tons discharge at cur-

of 13/2 service spood 15 A

charter the motor In time A two cylinder overrel John Schroder 2.520 tons karkots. Straits compounded turbine arrange dead weight was taken for nine Malayanent drives the five-bladed pro- to twelve months trading de- peller through double reduction very northem range January articulated gearing. Both high 20 to February 15 at lump sum

of $10,000 per month.--UPI.

800 ve 18.30 lb.:

Closing prices, all in cents per

b

100 10.40

Contract No. 8 (world)

American Contract

NEW YORK

216

2000

zá

52.90

Mar.

3.04

2000

2

May

3.03

May

July

301

July

11

Oct.

23.90

Sep1.

Dec.

23.00

Oct.

3.01

Total Sales; 12 contracts.

Spot (F.A.S. Cuba) 3.00

Mixed Contract

Rex

rubber futures closing prices, all in cents per ib.:

Jun: 93; Mar: 20.30; Kay: 29.45; July: 20.30; Sept: 29.30; Nov: 29.23.

SINGAPORE

Mar.

23.20

Ope interest: 318 contraels.

Contruct No. 0 (domestic) Mar.

May

Closing prices ali ta cents per lb. fo.b.

July

24.10

ports:

G.BS

Oct,

24.20

No. Jan.

23-31-06

Дес

24.30

--UPL

No. 1 Feb.

BD-REL

No. 2 Jan.

B5-85!5

No. 3 Jan.

0314-84

24.70

Total Sales: none.

Open interest: 140 contracts.

tradion suspended on January 8, 1961-UPL

An, Brake Shoe

American Airline

American Cyanand Co,

Ainer & Forga. Power

A Home Prod

Am. Mach. & F'dry

America: Metal

American meltingel

American Tel &

American Tob

Ampex

Anaconda Copper Artnice Steel

Armour..

Atlas Cons. Mining MaMirare & Ohio

Benguel Con

Hethielten Steel

Horden (The) Co.

Calif. Packing Corp.

Canadian Pacific H

Cat. Tractor

Crinese Cur

1. T. Finacint Corp.. Chare Monbal. Bank Chrysler Motore

Colgate-Palmolive Co. Comunerell Credit Consolidated Edison Continental Can

Crane Co.

Crown Zellerbach

Chiban Amer. Sugar

Delaware & Hudson Co.

Diamond Alkali

Dow Chemical

Dupont de Nemours

Eastman Kodak

Family Finance Corp.

First Not City Bank

Ford Motor

General Electric

General Foods

General Motors

Gen. Pub. Util.

Glidden Co.

Goodyear Tyre

Bleyden Newport Corp. Ingersoll-Int

Tall Business Machines

Int'l Harvestor

International Nickel

Intel Tel

Kansas C. Power & Light

Most active stocks

New York, Jan. 9.

The most active stocks to

star -Ferry F83

day traded on the New U Gas

York stock exchange, sales, closings, and net changes respectively. 10,000 Ceriain-Teed

271⁄4 up

Gilman

2.475

Underwriters 11.70

t Inv.

.. 10.30 BK & FE

Inv

23.40 Packard Humphreys

Macão ec. 13.30 13:4

Craw 41 42

58,500 Royal Dutch 34% up 3. 67,608 Ling Temto 28 up 24%. 55,300 Studebkr

7 unchanged.

53,400 Std Oil NJ 42% up 14. 43,000 Diners Clubs 27 up . 42,000 Case Co 11 up 1

31,300 Gent Tel and B 273% unchanged.-UPI.

Agreed merchant

rates

West German Deutschemaslar maximum celling 72%.

Exchange rates

morning at the following rates:- U.S. dollar per 31)

Sugar crop

Mexico City, Jan. 9. Mexloo's 1960-61 Eugar стоп

COTTON

Closing NEW YORK

per lb.: Closing prices all in cents per Lead Jari. 15.:

is estimated at 1,540,020 metric tons, or three per cent higher than the previous season, despite the fact three sugar plantations have not worked the current harvest, the National Sugar b Producers Leaguo stated today. Spot -UFL

Mar.

Ziro dur

Mar.

NEW ORLEANS Closing prices ail in cents per Copper spot

"HE EXCELLED TO THE POINT OF APPROXIMATING GENIUS AS FINISHED AN ARTIST AS ANY NOW BEFORE, THE PUBLIC.“

HIS TECHNIQUE IS IMPECCABLE.

42,200 Ampex

ON 4.

33,300 Gen

off 14

Corp 21%

Electric

7214

unoMelal

Business was done

exchange

in the local market

tals

5.70

Sterling notes iper C})

13.84

Australian noten (per £1)

12.64

Indonesian Rupiah (per 100) Siam ticals (per 100)

26.35

Singapore (Straits)

1.01

P.O

ORIENT

LINES

EMBARKATION NOTICE

R.M.S. "CARTHAGE”

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

EMBARKATION: The ship will bo berthed at No. 1 Pier, Kowloon Wharf. Passengere should embark between 2.00 p.m. and 4.00 p.m. on Friday, 13th January,

BAILS:

BAGGAGE:

1961.

The ship is expected to sail at 5.00 p.. on Friday, 13th January, 1961. Should be sent to the Hongkong & Kowloon Wharf Co's Godown (No. 2 Gate), Canton Road, between 8.00 a.m. and 6.00 p.m. on 12th January, 1981.

SUBJECT TO CHANGE

Agents:

MACKINNON, MACKENZIE & CO. OF HONG KONG LTD.

- Telophore: 16211/9.-

Dec. Mar. May

July

METALS

No. 4 Jan,

Spot rubber unbalcu

Blanket crepe

LONDON

No. 1 pale crepe

00-81

2018-71

05-12-037%

002-0115

pressure and astern turbines are guarded against

overspeeding.

11

by an over-speed governor with the further precaution of 'screaming piece' to give audible excessive axial warning of

Closing prices all in pence por movement of the rotor. Ib.:

NEW YORK

prices all in cents

No. 1 Res spet

Settlement house term? Jan./Mar.

Apr/June

D.D4

July/Rept.

9.20 10.40

Nov/Dec.

Jan/Feb.

27.11 Jan. 21,00 Mar.

Mar.

251-26%

2541-2525 25-44-253 23-2

10:20 General markets, c.if. basis, ports:

Four

cargo

2,000

The ship has a length between perpendiculars of 523 feet ud can carry simultaneously seven different types of oil cargo in 27 tanks with a total capacity of

cubie foot, $50,000 horizontal cleam-driven oil pumps can deliver (U.S.) gallons each per minute and two vertical stcum-driven pumps can handle 400 (US) Closing prices all in guilders gallons each per minute, per kilogram, c.lf. Jan

With a total complement CI 70719 No. 1 rubber

2.49 buyers 61, the toniter has Thermotank quarters.

LONDON

Closing prices, all ist sterling

32.25 32.05

31.50

Copper Jan,

33.00

Mar.

per long tors

Tin apot J-month

20.00 32.00

2014-29 24-3-25-42

254-2314 F436-25% 231 thick Jan... 2532 AMSTERDAM

Estate crepe thin Jan,..

Buyers Sellers

745

76044

va?

21215

2101

3-month Lead 1st half Juts. *** 0312 3-month

No. 2 rubber

220

22034 | No. 3 rubber

14

64 No. 1 crepe

HARRY ODELL

PROUDLY PRESENTS

A GREAT ARTIST

0474

2.48 buyers

in all 2.30 buyers ventilation

63 buyers

Officers and about half the crew -UPL

have single herth cahing, deck officers being stunted amidships and-engineer officers alt, beside the engine room,

San Francisco Calf-Bulletin.

PAUL BADURA-SKODA

AT THE

LOKE YEW HALL

WEDNESDAY,

1st FEBRUARY,

AT 9 P.M.

(PIANIST);

PROGRAMME.

1. Fantasy D Mirior

(K 397)

MOZART

2. Sonata B Flat BEETHOVEN Major, Op. 106

INTERVAL

3. Suite, Op. 14

4. 4 Impromptus,

Op. 90

BARTOK SCHUBERT

ADMISSION: $15.40, $12.80, $10:20, $7.60, $4.20 ! BOOK NOW AT INTERNATIONAL FILMS LTD., ROOM-414, 9, ICE HOUSE, ST. TELS. 21832 & 31488)

JOIN OUR CRITICAL CONTEST” AND WIR HK$1,000.00 JONE THOUSAND DOLLARS) IN CASH. FULL DETAILS IN "SHOWBOX" "MAGAZINE, OBTAINABLE FREE FROM THE ABOVE ADDRESS.

A modernised "Queen of Bermuda”

Harland and Wolf Ltd., of Queen's Island, Belfast, have received from Furness, Withy, and Co. a contract for the modern- isation of the 22,500-ton linor Queen of Bermuda. The contract was achieved by the Belfast firm in Lace of strong bichs by other British and Continental yards.

The.

Bermuda, Queen of which is expected to dock in Belfast next autumn, will be Stted out with an alk- conditioning system and under- go other major improvements to posserger, Recom,ociation. The eight existing bolters will

new

Steering gear Is of the electro-be replaced with threa hydraulic four jan type and is ones of modern design.

The versal is engaged on the supplied by the Edinburgh firm

of Brown Brothers and Co. Ltd.; Furness, Withy passenger nervier between New Yoric and It can be controlled from the

Bormtuda wheelhouse or from the boat-

dcck, Four Abreglass lifeboats bre carried, two of them diesel engines.--LFS.

Pump units for

Another conversion, contract on which the Belfast, shipyard with is likely, in be engraped next year is that at one of the threa Union Castle. internalia to Hers which are being exten- sively modemlood,

giant tankers

Stripping and ballast pumps made by a Scottish firm, J. H. Carruthers & Co. Ltd., of East Kilbride, ara incorporated in eleven now 77,000 b 92,000-tón deadweight tankers which are being built at various yards in Europe for Esto Tonker lab. New York.

The stripping pumps, present

Ship ordered by Hongkong firm

Oslo, Jan. 9.

A shipyard in East Norway, Mass Vaerft & Dokk, has socuted an order from a Hongkong shipping firm for a 6,130-ton (d.w.) passenger-cargo vassal according to press reports ...hdro..

The Hongkong concern in tho

a new style in the reciprocating Shun Cheong Navigation Co. pump held and offer reduced Ltd, which will use tho yozadi weight, reduced maintenance, for regular service cus on of simplicity of operation, and, Re Far Eastern routes. Dellvory most important of dil, an almost 15 scheduled for the fearth of 1902-Chipil. Mail complete answer to the problem quarter of gassing.

Special.