1961-01-17 — Page 2

China Mail 德臣西報中國郵報 All

| Page Z

UK trade gap smaller

Wall

than feared mixed,

London, Jan. 16.

Britain's trade gap was O little wider in December

but the £67.7 million dif. forance between Imports and exports was smaller than had boon feared. In November the Lap £08.1 million.

was

Both imports and exports fell

December, Board of Trade

figures showed today. Exports in December were worth £302.7 million, imports £382.5 million and re-exports £12.1 million,

IMPORTS RISE

Over the year Imports into Britain Jumped by 14 per cent

ex-i compared with 1959 whlic ports improved on last year's per performance by only six cent.

had been

Imports

expected to lessen both under home credi · restrictions and because slocks, depleted during the early, your

boom, had largely brwi re-bui-UP!.

Agreed merchant

rates

Belgian Francs Maximum Selling BCS.

West German Deutschemarks Maximum Selling 72 9/16.

Unit trust

First Hongkong Fund.

Buyer Price

Soller Price

THE CHINA MAIL, TUESDAY, JANUARY 17, 1961.

Street closes heavy trading

New York, Jan. 16.

The stock market closed mixed today. Trading again was heavy,

The market was higher and setive at the opening following its string of live consecutive Prices advances just week,. continued to improve in morn- ing trading but turned mixed around noon. There was slight Improvement in afternoon tad- Ing until the Anal half hour when the pattern become mixed ogaln.

Most price changes ranged from a few cents to around one dollar share.

It was another brand market In which 1,278 sen

month to 103 per cent of the 1957 average, while sales of new passenger cars in the initial inird of this month were below the year ago level.

Consolidated Paper

Conmere Cas Continental Can. Contmental Oil of Del.

replp Pet

Crown Zetterbet Delaware & Hudron Co. Fairbanks Whitney was the Diller-Sergrams

Dominion Stone masi activo, up 4 at 0% 81,400 shares, Secund was Ling. Dow Chemical Temco, up at 32 on 75,100 Family Finance Corp. shares. Third was General Elec- First Nat. City Dank tric,

on 55,000 Georgia Pacile

General Dynamics shares.

Next came Radio Corp. up Gen. rub. Util at 50%, and Studebaker-i den. Tyre & Hulber Packard, off at 7.

at 70

Den. Tel. & Elec.

Glidden Co.

Great

Was suld heavily Goodrich (b. F.) Co.

Northern Railway and down 1. Raymond Inter-orunman Aircraft

up 14 at 154, was Gutt Ol..... sixth most active.

Brunswick crossed the tape. Of these 549 advanced, 488 declined and 241 were un-national, changed.

were 70 new 1000-01 There highs against only one new low. Standard und Poor's 500 stock index lost a mere two cents at $50.58. Guld

wero mining shares strong much of the day but lost! most of their advances by the close. Steels declined, along with tobaccos and airlines. Most ather major groups were mixed. The Associated Press 00-stock average fell .10 to 227.00.

The Dow Jones 30 industrials were of 45 at 833.10.

For the sixth day in a row militon volume lopped four

shares with more than a million traded in the first hour. It team talled 4,610,000 shares compared with 4,520,000 shares traded on Friday.

BUSINESS NEWS

Hammond Organ

Witam Walker tiomestaka Mining Co. fellinan Refrig.

Ford was down 14, Interno- lonal Business Machines

points—AP,

Closing prices

Ablubi Pwr. & Paper ***** Algoma Steel Corp.****** Allied Mills I. Am. Drake Bhoo

Am. Cable & Radio Corp American Cyanand Co. Am. Hume Prod.

Am. Mach & pcry Any Natural Gas

Am. Sugar Ref.

Ampex. Arinco Sirel Asbestos Corp. Batwin-Lima-Stam. Bank of Montreal

Beach Life Savers

B. C. Tel Co.

Bali Telephone

Benguet Cons

Idaho Power Imperial Ol

Imperial Tobacco Ingersoll-Itand

49 Inland Steel Ca

Interchemical Corp.

435 Kaiser Industries

病

Kansas C. Poker & Light

47 Kimberly Clark

Aggett Myers Toh, Co.

Lily Tulip

105

#7%

Lorillard P

234

McDermott J. Ray

Lowenstein & Sons.

Merek

201

גן

Iron Corp.

Monsanto Chemical Co.

Motorola Inc.

Nattonal scult Co

National Steel Corp.

Noranda Mines Ltd.

Norfolk & Weclom Ry.

North Amer. Aviation

Northwest Airlines Com.)

好

Bendix Aviation Corp.

50%

Doel Airplane

Borden (The Co.

484

Burrough Add Machwo

Brilla Amer. Oil

British Columbia Pwr

4291

Philip. Morris

Caff. Packing Corp

Canada. Uk, of Comm. Canadian Pacific 11. Caso (J. 1.) Co.

Cal. Tractor

Celanese Corp.

The business news was mixed It included a rise in ster] pro- duction in the United States last week to the highest level more than two months, But the US. Federal Reserve Board reported a drop of two per cent $1.10 in industria. production last comming Glass Works

$1.00

CI. T. Francial Corp. Cluett Peabody Colgate-Palmolive Co. Commercial Credit

NOW

Oklahoma Nat. Gan

Owen-linols Glass

37% Oxford Paper Co.

Penny J. C. Co.

Pitney Bowen

238) Fracer & Gamble Co.

10% Portland Gon.

ee.

Publicker, Industries

244, † Pulimen ́....

673 | Pure Oil

2116

Radio Corp. Prol.

Faythears

7534 | Roral Bank of Canada

Royal Dutch

BOEING

AIR-INDIA

R707

NOW we offer you a veritable Palace in the Skies! Silken. luxurious splendour fit for majestic jet travel. Harmonious decor, traditional Indian motifs co enchant the eye. Cushioned comfort, in armchair seats. Specially trained atten- dants to serve you banquets, ply you with choice wines, fulfil your every wish. Choice of Luxury and Economy Class, with every Luxury Class seat, a wide, supremely relaxing armchair.

This

as four mighty Rolls-Royce Conway engines swift your Boeing 707 Intercontinental through the calm, smooth blue This is stratospher-at over 600 happy miles an hour.

new flight delight. this is jet travel ...

at the same fare as as always. by AIR-INDIA!

JAPAN

INDIA

EUROPE

U.S.A.

AIR-INDIA

Theem Mig.

Sears, Roebuck & Co. Shell Out Co. 2013 | Baleway Biarea

saint leg. Faper Schenley Inc.

1914 Ecutt Paper slegter Corp

Bnth, Kline & French... South Puerto Aloo Sugar Southern Co (The) Southern Natural Gas Southern Pacific Co. ....

651 Bouthern Raltway (Com)

27f

名

Sperry Rand

Steel Co. of Canada

HONGKONG

STOCK EXCHANGE

Our Own Correspondent:

Business done at the Hongkong Stock Exchange this morning amounted 10

approximately $5,440,000. Noon quotations and the morning's transactions:

Shares Buyucu Mekars Balra

1440 1845

MK Dank..

141078

2006

1000 5 10.40

1000 or Le

100 OF 20%

870 18 10:40

11 C1450

50 1450

30 Gr 7443

A 2450

20 1443

10 or 1450

25 o 1445

Bione & Webster

Lon. Rep.

k. E. Asta

Bunshine Mining

Talog Dock

1240

37035

1000

Textron Inc.

2200 4 7516

5514

Thickol Chem

BOT

Tide Water Olt

341

Tri-Cont. Warrants

343%

Twentieth Century Fox Film

11 Ga.. 10.40 101

Union Of of Cal

EVIL

United Frul_...

United Clas Corp.

Wheelock

10.40 102

431

U.B. Line Co.

2014

4124

U.B. Steel 7 C. PF

30:1

Waukesha Motors

Westinghouse Air Brake

42%

Western Union Tet. Co,

61%

West Va. Pula & Paper Winn-Dixie Stores

15%

2015 Dock

1024

124 125

400

200 e 123

100 120

1200 125

Ch. Prov

10 & S. lutel

24.30 2.49

2500

24.40

41%

1500 60 4134 1500

76 77715

Zeruth Radio

Chicago grain market

Chicago, Jan. 16.

A strong demand for soybean

futuros carried all the old

HK Land

Yaumati Ferry 131

crop contracts up six conts Youman

a bushel going or more

into the early afternoon

trade,

123

1000 10.00

1000 101

4000 ca 1015

503

10.49

20 10.40

RANSPORTATION

U.S. REPLY TO

SHIPPING PROTEST

Washington, Jan. 16.

4700 10m A spokesman for the American Merchant Marine Institute said today that United States companies and their affiliatos own or control not only ships flying the flags of convenionce but also Norwegian ships and those of other European coun- tries.

134 200 a 124

500

113 117

(New)

today

the board of

Tram

33%

1600

1000

20.40 2015

500

3600 6

1560 cr

At times, some had been

nhead seven cents and the July, C. Light which led the advance, was up

eight cents at the extreme,

Grains were steady to Arm with wheat moving up on a fairly good volume of export buying.

Brokers suki some of the strength in soybeans was related to higher prices for soybean all and soybean meal but that il also included active reinstate- ment positions.

Electric

14.30

500 és 20. 1000 ₪ 281⁄2 1300 or 281

30 312 4000 3

2000

2000 4 31

100314

1900 or 31

2003)

and expansion at longTelephone

231;

1000 @ 40

3261 @ 40

The runup boosted all de- liveries of soybeans and soybean

oil to their highest levels of the scason.

At the finish soybeans were 3% to 74 cents a bushel higher, January 24814-4: wheat lo 1% higher, March 2,10%-4; corn unchanged to 4 higher, March 1.11%; oats unchanged

to higher. March 05%-4:

to rye unchanged

March 1.15-AP.

(New)

Cement

372+

00!!

240 @ 2014

900 40

500 40 1000 73 108712

20070 500 G 70 1000 B 2500 CT001

100

100000

150009

500 00 00

London

closes firm

London, Jan. 16. The stock oxchange mado a wary start today but firmed up before the closo on the strength of Decem-

bor export-Import figures Word better than

which expected.

govern He mald European ments, which protest U.S. ownership or control of faga of convenience ships, should not forget some of their own ton- also owned by U.S. nage is

The spokcanon cala United States

compartes

their amliatee own 110 ships totaling

tons fly- 2,300,000 deadweight

intereris.

ng the flag of Panama.

U.S. companies and their affliatee own 120 ships totaling 4.400,000 deadweight tons under the Liberian flog.

They have 17 ships with a deadweight tonnage of 34,000 under the Honduran fing,

European-flag ships owned by Americans:

Oreat Britain, 300 ships total ng 1,700,000 deadweight tons;

Netherlands, 15 ships, 329,000 dendweight tons;

Norway, ships, 158,000 dend- weight tons.

Germany, 10 ships, 300,000 deadweight tons;

France. 17 ships, 53,000 dead-

Industrials rallied from a dull weight tons: opening.

Delgium,

ships, 70,000 dead- weight tons; and

The new orders on gold from

Italy, 3 ships totaling 28,000 Washington inspired consider-deadweight tons. able buying. Shares closed firm.

The ships mclude oil tanker, oro vessels, dry cargo and other British government bondstypes of ships. were quiet and changes miner.

Olla were in coppers dull.—AP,

good demand,

Closing prices

British Government Securities 21%. Consolidated £43

Converatur—=£58-0/16.

Savings 1955/65-90-1/16, 3. Savings 1060/70-70%

Baving 1065/3-270-1/10.

War Loan-06.

200

higher,

Dalry Farm

32 3213

500

10000 Z

200

600 32

Watson

Allied Inv. 8.30

8.55 2000 or 8.60 2000 @ 1.56

2000 83%

Nanyang

13.10

Texillo

7.05

BIS

London gold

price holds firm

London, Jan, 16. The London gold prico today hold steady at around $35.5. Business was small, and the tendency was said

A Rubber 012

R. Trust..

6.55 14000

2000 a 0.56

30000

3300 (+ 645 20000 $ 0.44 1000 ** 031 2000 * 6.55

7.45 7.55 4000 7 7.55

4000 64 245

2000 of 7.55 1000 # 716 Humphrena 20.30 2016 3000 2630 Brully ... 1,875 1.00 10000 1.00

to be on the buying side. There were few signs of Americans selling out their gold Metaliniunt. and many signs of them buying Lane, Craw. 42% gold shares.

Over a period, the ban Americans holding gold might enlarge rather than reduce Ühe U.S. losses of gold and dollars, & F, E. it was thought..

con

Int'l Invest. 1100 1100

im. aiman

Buying of gold as such is only one among many ways in which Americans

put money abroad at the expense of the U.S. gold stock. The ban might do more to encourage than to deter non-American buying of gold and gold shares-Reuter.

Ib.

200 200 900 4 200 200 204

3000 G4 145

200 42%

2000

2:00

600 F 43

1000 11.00 900 11.70

10 1020 NO GA 1593

1000 10 ... 2.473 215 20000 & 2475

4000 235 1000

13 2440 3.90 4.20 Macro Eire. 13.20 Cold Mac.

Underwriters 11,50 Vibro...A Bungalo

(Ords

Entertainment

351 8045

COMMODITY PRICES

COTTON

LIVERPOOL

Closing prices all in pence per

American Contract Mar: 22.00: May: 22.96; July:-23.30; Oct: 23.00: Dec: 11.09.

Mixed Contest

Mar; 23.29; May: 23.00; July: 243; Oct: 1428; Dec: 21.25-uri.

RUBBER

LONDON

Closing prices all in pence per

16.1

Deterrent house term:

AMSTERDAM

Closing prices all in guilders

per kilogram, cif. Jan.:"

No. 1 rubber

No, rubber

No. 3 rubber

No. 1 crepe

2/9 bułysza

2.30 buyers 3.33 buyer 2.00 buyers ---UPI.

METALS

NEW YORK

Closing prices all in cento per

1b.

Land

Jan.

Feb.

Zine

Copper Jan.

Feb

LONDON

0.80

10.90

Closing prices, all in sterling per long ton.

Översens Bonds

German (Dawes)-2003,

core Japanese, Assented-1695%

Banks & Insurancas

Barclays Ord--00# 34 xd, Chartered Bank-60.

Guardian Assurance-19, Hongkong Bank-27514. Lloyd Hank-70 (ki xi. Lombard Banking Örd-1ẞs GX1,

Olls British Petroleum-303. Burmah Oll-ita 30. Eltell Transport Ord-1304 00. Royal Dutch£16. Ultramar Company

10324.

Steels & Engineering Babcock Wilcox Ords 10. United Steep-09 € Vicker Uni—203.

Electric

Assoc, Elre. Industric-12. Figs & Mus, Industries-444 0, English Electric Ord-13s 6d. General Electric On-329-64,

Industrials

Amor, Partiand Cement-716 4140, Dunlop Rubber Orl-24 144, Unilever Ord=1534 7{[0. Boanhman, Barden Ora-&e 154. Glinan (Holdings) Orden 1šļa. Standard-Trivmph-10s de. “

Chelente Monsanto Chemicals Ord-250 754. Imperial Chemical Ori-050 04.

Гарет Bowater Paper Ord-642 Dd. De La Ruo Ord=668.

Tobacco

British-Amer. Tod, Ont-02# 4!50. Imperial TeDKED ONS-OR.

Motore

Brit Motor Ord-154 KL

Ford Motor Ord-167 4 (non

•mented),

tular Hoyce Ord-421.

Hawker Biddeley Òrd-28, (01.

Textile

Coats 17. & P.) Ord-50. Court Dedištu Gct.. Lancashire Colton Ond-cos 4150. Great Universal Ort-50s 6d. Mario Spencer "A" 4160.

Ord-pa

Woolworth (F.W.) Ord-3.

MiscellaneoUR.

Bowmaker Ord-231 36. Hongkong, China Gar—104. P. 20. Steam Nav. Defin 3. indo-China Def. Ord-Zia 114, Mines

De Deore Del-107 03. Free Niala Geduld--läia od cor. Petaling

Rio Tinto Bearer) –£1-47/37.

Rubber #Trea Anglo Indonesian Plant-la od, Ceylon Tea Ord-20% od, Imperis Tea Orda14e it. Kuala Lumpur-Koponga AIA, Lambak Rubber-450, -

-Hauter.

Exchange rates

So far, the spokesman said. there is no U.S. ownership of Japanese shipping, but U.S. interests own one ship of 1,000 fying the deadweight tons Philippines' flag-UPI.

Airline's Orient Sales Manager

St Paul, Minn., Jan. 16. Joseph S. Sykes, 37, a votoran of ten years' ex- porionco in international sales work for Northwest Orient Airlines has been nomed Orient Rogion Sales Manager by the air. lino, it has been nounced.

an-

Sykes' ot Arasouncement promotion was made by Paul Benseoler, Orient Region vico president, and R. J. Wright, the airline's general sales manager. Sykes, who took over his now post January 18, succoéd's has det J. J. Fauteux, who Northwest to take a position with New Orient Express, New York, a major wholesalo tour operator specialising in travel to the Far East,

Sykes, who has been Japan sales manager for Northwest, with offices In Tokyo, will stay in Tokyo in his new assignmeni, as the airline's Orient Region headquarters are in the. Japan- ese căpitol.

Volkswagen shares go on sale

car

want - "on

Bonn, Jon, 16. Shales in the Volkswagen

company sala to the public for, the first timo today but there were fow buyers.

One bank official said: "The demand was not nearly so great. as was expected.”

The formerly state-owned Volkswagen drm, with hand- quarters at Wolfsburg, is being converted into a jölht stack company in line with govern. moni polley of turbing Weat Germany Into a nation of pro- perly, owner.

Sutty per cent of the share capital of 300 million marka ja being offered to the publB purchasers are Belted to Ave unares each-while the goVRÍTI» Buknow, was done in the local rent and the state of LowER bitoficial exchangs markol this' Saxony," which includes Wolla motning at the following rates:- 18, döller (per $33) ascor Dieta notes (per #3) June 1555 | Australian notes, (pw £11.

Indonesian Rupiah (per 10034. Bingapore (Biratix)

No, 1 spot. 2414-23

Jon/Mer

Apr/hine

2472-23 212-00

Buy in Bahr

Tiu spot

July/dept.

3-Gionth

*744

Nev./Dec.

Jan/Feb.

| Copper spot *******

4-month

16 217

Jan.

General markets, edd. bear, porte:

249-07

Land at half Jan.

2emonih

Max

Extate crepe thin

month

tistak Jan.

Fra burx, take 20 per cent each.

Proceeds from the sale of ijus, shares will go to a new feyndar tion to dhango #pigaling mag 141 cultural purposes-Hauler,

1961-01-17 — Page 2

Comments

Private Research Note