1961-01-18 — Page 2

THE CHINA MAIL, WEDNESDAY, JANUARY 18, 1961.

Wall Street declines Road building;

in active trading

New York, Jan. 17. The stock market declined today. Trading was active, but well below the heavy pgee of the last six sessions. The market was slightly lower at the opening following yesterday's inconclusive performance. It turned substantially lower in the first hour and continued to sell off until early afternoon. A modest improyement in the final hour left prices above their lows for the day.

Most losses ranged from a on the New York stock

*x+

few cents to around tw dal-change lost about $1,500 million. lars a share, but there were

Of 1,269 losses trade, 672 wider

Dixher! Scases among

declined, 466 advanced and 241 priced and more volatile asues.

Standard and Poor's 50 slock closed unchanged. initx fell 24 cents to $50.34. Based on that indicator, the quoted value of all stock, listed

Rights issue announced

1

There were 34

1980-01

high against two new lows.

Steels, coppers, autos, petro- tems, etccirle i equipments and airernfts declined. Rais, Lobacros and building materials rese average tell 50 to $227.30.

The Associated Press 00-slock

❘ were off 4.23 to $128.08.

The Dow Jones 30 Industrials were off 4.23 to 628.90.

London, Jan. 17. Imperial Chemical Indus tries this evening an

Volume fell to 3,830,000 shares nounced a rights issue of from a 4,510,000 shares traded one new share for every, on Monday.. twenty shares held at 558. per share,

*

AL

The issue is expected to bring in between £34 and 135 nl- Bon. ICI expect to be able to recommend a final lividend on each £1 unit of ordinary stock of is Cd, which with the in- 12! 13el tready prid Lem

maks will

total ordinary dividend of 2s Dd for 1980 com- pared with 26 3d for 1059. Moreover,

Board believe the that the company's prospects are such that it will be possible to maintain the 1940 rate of dividend on the ordinary sture au increased by the capitai present Issue.

The new ordinary shares do not rank for the final diyklend for 1900-China Mall Specta".

Copper

New York, Jan. 17. Phelps Dodge Corn. and the today reduced Cu. Auscultón their price for copper one sent

PROFIT-TAKING Brokers blamed the decline following the on profit taking sustained advance last week. In daltion, the business news was dh craraging. It included a drop in private housing construction a rise in U.S. last month, and business fitures last week. The eut by major US producers of one cent a pound in the price of copper sent copper chares lower, Elght of the 15 most active tocks advanced und seven de- clinecl

"Son Diego Imperial was the must active stock, rising to 87% on 81,600 shares. Second was Sperry Rand, off at 2334 on 78.100 shares. Third was Uni- versal Oil Products, up 1% at 34 87,100 shares.

Next cinne Brunswick, off at 45, and General Electric, off 13 at d.

Lusers included Dupont down Gle, Westinghouse Electric a. Standard Oli (New Jersey) 1, U.S. Steel 3, and United Air- craft 1PM.

U.S.

giants plan invasion

London, Jan. 17.

Giant American companies are considering upply- ing for a full quotation for their shares on the London Stock Exchange, They think it worth while to have their shares (already dealt in under a special rule in dollars) quoted in pounds, shillings and pence.

One American group which of prestige and international may apply for a full quotation advertising. Behind the whole this year is Notional Dairy Pro- iden of course is their plan to ducts, the biggest food giant in expand operations in Britain, the States. Its subsidiary. Kraft! Foorts, operates on a big scale Inį To get 3 London quote Ameri- Britain and has been netive also can companies will still have to in the takeover market for Bri-satisfy the formalities of the fish food companies.

Stock Exchange by giving the public the fullest possible In-

This chould

Britain shows

the

world · ·

•

ANSPORTATION

By ALEXANDER THOMSON Britain's civil

Rochester, Jan. 17.

Where Sunderland flying-bonts were once built to patrol the air, they are having a boom here in machines that are very much on the ground.

LONDON STOCKS FIRM

London, Jan. 17. Generally choorful conditions proyalled in the stock exchange today under the leadership of industrial shores.

icm and

cared

Although Loward the close and some industrials did not maintain their top quotations, the under- tone wao arm at the bell.

Road-making

machines that

look world-beaters are being predheed i

Medway-side factory by the Blaw Knox en- gineering concern.

at

They lay road surfaces speeds of up to 50ft, a minute. man- pushing their way along ned by a crew of two.

The M.1 was engineered with their help. Five major by-pass roads now being built in Britain are using them.

The Italians have bought seven for work on the new auto-strada that "sunshine" wilt hurry holidaymakers along from Milan to the south.

AMERICAN LINK

More than 20 other oversean countries have hought them, ico. The Japanese have one. So have the Russians. And all are Rochester built.

Blaw Knox is a British com- parentage. of 'American Mr Alexander Hood the City chairman. banker, 15 Thirteen years ago it set up here in one of the flyingboat factories belonging to the Short which the concern

and Brothers

took over Government moved to Northern Ireland,

British government marked pany 120

up a number of minor gains,

Gold mining stocks advanced In response to buying from brokers in Johannesburg be- leved

to hold orders from United States Investors.

Last August Kraft's hid formation Typhon Tea, which included a simple for them. Already they site of shares in its parent are required by the Securities company, National Dairy, was and Exchange Commission In called off when the Treasury New York to give for more in- refused to sanctlon es-formation than we ask of our

shares. Over e, companies hetu. weekend Kraft made nother bid. this time in cash, for

Southern Oi! of Munenester,

change of

BIG, GAINS

the

There is no guarantee that the

would Treasury

allow

take American companies to over British Arms by share exchanges even

if their shares

were dealt in in sterling form on the London Stock Exchange.

Ford rose 1. Texas Instru- ¦ments 4th and Polarold 31⁄2. But even if there is no carly

Carbide rosu

1. Air relaxation of Treasury regula- Vaion to 20 cents pound, natching, Reduction 112. Baltimore and tlops governing the exchange of companies American Ohio 2, Chesapeake and Ohio shares, Copper and New York Central still see big gains in having

London share "quote In the Way

the

reduction Monday by Kennecott Corp-AP.

announced

On

AP.

THE UNION

OF

SOUTH AFRICA

J

FROM

BOUT AFRICA

CI

It would do markets a power have American B004 10 shares competing with their British rivals in London.

Stock prices

The New York stock quotations for yesterday, and many other commer- cial items,

#ol received for publication owige to poor radio receb- tion.

were

EXPORTS TO THE VALUE OF

£700,000,000

U.S. $2,000,000,000

M $6,000,000,000 H.K. $11,000,000,000

YEARLY!

And Is An Excellent Supplier Of Your Requirements Including —

FOOD INDUSTRIES

Cosmed Fish & Abalone Conned Fruit, Vegetables

and Jams

Fruit Julcas & Squashes Wlaus. Spirits & Mult Dried Fruit & Vegetables Edible Oils & Paano? Sutter

Breakfast Cereals

Biscuits & Confectionery Malze, Grain & Eggs Animal Feedstuffs & Yeasta

Fish & Vitomļa Olis

CHEMICAL INDUSTRIES

Industrial Chemicals Adhesives & Gluas Glucose & Starchus Insecticides, Olps, Sprayı. Weedkillers & Disinfectants Pharmaceuticals & Drugs Methylated Spirits &

Alcohol. Solvents for industry Wax & Tor

Carbide

Tanning Extracts

Explosives & Fuses

CUT OUT THIS COUPON AND SEND

BUILDING MATERIALS Hard & Soft Boards Steel Windows Steel Furniture Office Equipment & Safes Asbestos-Cement Products

MINERALS & ORES All Minerals & Ores Asbestos & Gypsum Extractory Materials

AND MANY OTHERS!

The Senior Trade Compisilaser: for the Helen of Truth Africa in Test. Aslo.

Tat Flour, KPM Byliding, Hablayan Road, Kingerere,

Pierse send mo the names and aftrapses

of South African Exportèrs et:-

The name and address of my firm is as follows

ADDRESS:

NAME.

Coppers neo Imnroved. Olis were regular.—AP.

Closing prices

British Government Securities 2. Consolidated=£*25%. 15%. Conversion - 2 63-6/16.

3D 155/65-290-1/16.

Da, Savings 1985/75—C70</io.

Oversea Honda As, Germán (Dawes)— € 907; 5, Japanes. Assented—£185.

Bankansurances Barclays Ord-000_34.j Chartered Bank 00s 9d. Guardian Assistance=)20, DU. Hongkong Bank—£7515, Lloyd antea, ch

Lombard Banking Dru-18, 04.

British Petroleum--493 3d. Buenjali Ol-30% Gd.

Royal Dutch—£13!4.

Ultramar Company--20s Bd.

Steels & Engineering

Babcock & Wilcox Drd-3ß 1750. United Steel-201 84. Vickers Ord-20s Dd.

Electric

Assoc Elec. industries—its. Elec. & Mup. Industries-445. English Electrię Ord-33- 30, Genaral Electric Ord-32.

Industrials

Assoc. Portland Cement-?ts 101%d. Dunlop Rubber Ord-22% 3. Unilever Ord-12s 450. Doardman, Marden

10. Gilmen (foldings) Ord-23 10.

Standord-Triumph-12 c.

Cber[cais

Monsanto Chemica Oril-26% 90. Imparial Chemical Or- .

Paper Bowater Paper Örd-558, De La Rue Ord-506 0.

Tobaccon Imperial Tobacco Ord-60% 754.

Motors British Motor Drd—131 10:54. Ford Motor Ord-deleted. Neis-Herce Ord Hawker Siddeley

Ord 501 06. Coots (3 P.) Ont. Courtauld Ord-460 Oc Lancashire Cotton On-87x 4!5d.

Stores

Great Universal Ord-500 9:1. Levona (3) "A" Orchid 4. Marks & Spetier "A" Ord-Day Gơ, Woolworth (F.W.) Ord-58% 3d

Miscellaneous

Bowmaker Orth--216.

Hongkong & China On-150 Indo-China Def, Ord-24s 1940. P.D. Steam Nov. Del-478 45.

Mlines De Beem Bel-160s 11d. Petaling Tins.

Hio Tinto Bester)—£1-20/02,

Rubber & Teas

Anglo Indonesian Plant-47 6. Ceylon Tea Ord-2 Gd Imperial Tra Ord-14s get, Kuala Lumpur>Kepong- 75.

Lambak

-Reuter.

Dividend declared

laerodromes show

reduced deficit

London, Jan. 16. Britain's 26 government-owned civil agro- dromas showed reduced deficit of £5,520,106, according to the trading accounts

of and balance sheets government departments for 1959-60 published in an official blue book hora today.

HONGKONG

STOCK EXCHANGE

@Our Own Correspondents

Business done at the Hong- kong Stock Excierge morning amounted to appro- ximately $4,500,000. Noen quota

With a slowing down in the Chatham Dockyard as well, the Medway Towns were then al- most depressed areas.

Today they have a labour one and the morning's top

shortage.

many industries moved into the district unemployment is

than

ΠΟΛΥ

haro that

.

one per cent of the worldng popnlation,

Mr Joe Davies a lively tile Welshman who

actions:

Shares

Sales Buyers Belieru HIK Dank.. 1445 1453 03 67 $450

201 k. E. Asin Talked Docx 745 7815 100 74 200 10 2101015

JK Gen... 16.40 11 Wheelock

manages the Blow Knox plont in this town, tells me that 60 per cent of his HK Dock... output is now made up of these automatic road pavers.

14.00 10.30 Bu v

$ A 24 10:4

7900 10.20

123 125 1000

ไทยบ 1300 & 121

123

C. Provident 24.50 2415

1500

24.40

He needs more elbow

200

room

for them.

To provide it, the company's

factory is being increased in Hotel .. 451% #134 size by 50 per cent.

MIXERS, TOO

Besides these machines, cost- ing up to £5,500 a time, Blaw concrete mixers Knox makes and steelworks equipment hare.

The concrete mixers range from the mobile kind mounted on lorries to large semi-fxed installations used by contrac- lors on works sites.

UK Land. 1715 70

Youmat!

102

Yaumati

(New) ....

110

ILB

113

110

34

2004 3315

HK Tram.. 232%

A promising new product is c. Light... what they call 起 pan-type

mixer. It turns each "charge"

of

cement, stone, sand and water into conéreto in 20-30 seconds.

I reckoned it must be one of the fastest workers of ila kind In the world,

Another Upeciality I saw is an unearthly looking machine called a motor grader that works rather like a carpenter's plane in road-building and main- tenance.

for

Oll companies

use them

HK. Elec. --

keeping grit roads nice and K Tel. ... smooth on the oilfields. Ninoty

per cent are exported."

For the steel industry, Blaw Knox makes doors and frames and for open hearth furnaces valves for controlling the flow of furnace gases.

How well is it doing this year? Ils plant here, with a payroll of G00, seems to be doing very well in terms of work on hand.

New

Cement

28.00

28

Dva 10 2914

1000

1000 of 33%

1500 333

500 or 334%

6100 or 23.00

In the previous year tho defelt was £8.308,247.

The Comptroller and Audi for General, Bir Edmund Campion, says the deliciencies on the three International amo- dromes-London, Prestwick and Gatwick (plalled £2,700,000 compared with £3,000,000.

The Deficiency' at London air-

Kwas port

reduced from £2,110,030 to £1,102,220, and at Gatwick the deficiency jost year was £1,008,204 compared with £917,838 for the previous 10 months.

REVENUE

Sir Edmund says the redur tions in the deficiencies at Lon- don and Prestwick were at: tribulable to incredited revenue, particularly from landing fees.

Revenue at Gatwick bise im- proved by an increase of 93 per cent in aircraft landings, but expenditure, Particularly on personnel and maintenance, also Increased, the accounts show.

The accounts reveal that the Boyal Mins made a profit dyr- £3,927,679. ing the year of The number of coins struck was 752.117.473 compared wilh 617,805,609.

or

these 511,802,676: _were siruck for oversens governments compared with 310,588,388 in the previous year, China Mall Special.

Two cargo ships ordered

: Two cargo_motor ships each of 2,400 tons deadweight have boon ordered from the Scottish firm, Allsa Shipbuilding Co. Ltd.

These vessels aro for the Gem 3000 26.03 Line Ltd., of Glasgow, and will 2009 2030 be about 1,000 gross tons. They 3300 20.50 will be 250 feet long between 1000 / 20.00

3500 Gr 28,60 perpendiculars with a beam of 100 20.90 30 feet 8 ins, and a depth of 19 1000 o 20.20 feet 9 inches. Species triols 200 28.80 speed will be 1234 knots. The propulsión units will to Deutz Diesel engines developing 1800 b.hp.

100 er 28.00

2000 Gr 28.30

$240 20.90

2007

1000 6

311 312

40 40%

But it is in a fiercely compati- | Dairy ..... 3216 dalk tive business.

So whether this will show up in the year's results is mother matter. There were no clues off that to be picked up here today.

RECORD?

Across the Medway from Blaw Knox is the £1,000,000 Winget concern. They are rivals in making concrete mixers.

The Winget Company has an unusual background. Its boss in an American. Mr Robert Ducas. He bought a big talto in it F. W..Woolworth and Com 30 years ago when he was only

pany declared a

final 29. The company was in didi- dividend of 1s 3d per culler. He pulled it round, and

alt as forecast, for the made a fortune.

London, Jan. 17.

Wetsan Allied μην 0,43 Textile

40

7.63

Nanyang

13.10 13% A Rubber 937 0.40

R. SLIKE iumphreys

Realty

31

200 of 314,

1200319

Although one of the smaller Scottish yards, Allsa Shipbuild- ing Co. Ltd, have embarked on A scheme of expansion and ro equipment costing approximately £600,000. The engine shops have been extended and re- 600 @ 2014 equipped and a 15-ton mono- tower travelling crabo with ather moblia crines have been introduced on the building berths. The new office block have just been completed and new plating and assembly shops and preziifses for plumbas, tinsmiths and coppersmiths will be provided. LPS.

403 4014

STEL

100000

Three ships thirty minutes

was

| Three ships, in 30 minutes a lounching pro- gramme carried out in one day recently by the Tyneside shipbuilding in- dustry,

Fiest to be launched, was, the 2000 à 140 Kykbank, 's motor cargo ship 31% 7.53 70000 730 of 1,600 tons deadweight, Built 16.30 201

for the Kyle Shipping Co., 1075 1.90

(Suc+ 1.00 Liverpool, by Clellande 110 costers) Ltd.

200 201

Winget's jobs spread from year 1980 en capital in-

concrete mixers to wire-making croused by two-for-five machines and plant for produc- tur Ferr free scrip. issue. An in- ing the now frozen foods. It has, tel Int Jane Craw. Gitmen ** 2A70 26 terim of nine pence per a payroll of 1,200. share was paid prior to In a quick look round to Hankey

Bungala

+ 420 capital increase

Inclory, I was told that every section wie working falli out.

Turnover for the first nino months of the trading year, thay raid, was a good 10 per cent up on 1959-10

1.00 This was followed 10 minutes 101 | later by a launching on the soul tork of the river at the yard of Hawthorn Leslie' and Co. (Shipsuliders) · Lid, ́ Hebburn, of the 18.000 tons deadweight, farfece Clyme for the Indiny Bhiring Co, and in pt the For the year 1059 dividenda

unifies camo w!!! totalled 28 34 on old capital,

christching of the Palin Lin excluding the special Golden

còn có núi, họ cuop land asid Jublice cash bonus of four pence

Sa it looks as though the com- Busine was dono per init, The dividend an

in the socal Weight (koja Palm by Fady unofficial EKERAJIN market ints - Qjudewu, Wife of Bir Offumbywo nounced today is payable on pahy will turn is record profits

Qjulowy, chairman of UR Match

gides When it reports next) morning at the following ratos

Nigisian Produka", Mariçeting September.

UB. dollar (per: $11 Nel profit was £14,655,737 In which cans there should be sterling otok (per: £1)

A Corp. Ltd. It was built by ngalail €14,009,740 atter tax of plenty of room for mother Auver a note 3pm £117... 14 Bwan, Hunter and Wigarh magheden ziplaniper 199)... **) 2lphardnoj Leid., NowRanje Pron £1847417· agálost £15,378,2 increme în diyldard.

My Crema Car 190) *9999

Exchange rates