THE CHINA MAIL, THURSDAY, JANUARY 26, 1961.
Wall Street makes sixth
advance HONGKONG in a row
New York, Jan. 25.
The stock market advanced slightly for its sixth riso in a row today. Trading again was heavy.
STOCK EXCHANGE
Our Own Correspor
Business done at the long-
kong Stock Exchange
this
morning amounted to approxi-
IMPORTS RISE Britain's balance
LONDON
STOCKS
of payments
gap_widens
London, Jan. 25.
mately $5,040,000. Noon to "Sell or sink" and "export or die," two slogans
The market was a little lower and active at the open- tions and the morning'a trans-
actions: Prices went ing. It turned mixed around noon. substantially higher in afternoon trading, but lost most of their advance in the final thirty minutes.
Standar Poor's 500 stock Index, which represents MOTU than 90 per cent of all the
Improvement in actual trading on the New York
steel trade expected
Now York, Jan. 25.
stock exchange, gained a modest at 460.53-only 18
eight cents
cents under its historic high of 80.71 cet on August 3, 1950.
today, For a short time
the index was slightly above that peak.
írom Most gains ranged few cents to around one dollar
and there share
were the same
March promises to be the numerous losers in
first month to bring any Tange
of 1,272 issues traded.
substantial improvement| advanced, 537 declined and 240
Bhares Buyere Heliers.
Bank..
1010 1050 10
1060
123 50
1
1035
10 1000
Lon. Hec..
1360 1375
275 212
336 1935
00 of 1055
40 1063
DOM 1045 20+ ICES
30 N 1970 20
1375
designed to drive Britons harder in foreign markets, helped to bring about a 6 per cent increase in British exports in 1960, but a 14
EASE
London, Jan. 25. Ministerial forecasts of tougher business condi- tions here brought out scattered selling on the stock market today, easing prices.
Minus marks Were minor. feli back
per cent leap in imports easily outpaced this Stores and textiles
while steels, tobaccos, motors
FRANSPORTATION
British shipyards
living off old orders
London, Jan. 25.
dull. Few issues in the blue British shipyards are living off old orders, elp group escaped the down-
Gold shares remalaed mostly in the doldrums, although West Africans lost some ground on a move by the Ghana Government to keep marginal mines open.
rise to add to the country's balance of pay-and engineering equities were ments worries. Dismantling of most restricthe United States sagged by 10 drift. tions on dollar trade means per cent, paced by the sharp imports from the United States fall in car sales. Exports to 211360 soaring 53 per cent above 1959's Canada Improved by 3 per eent
ilovel while British shipments to against 1950.
Europe Imports In western from the two European trading blocs increased in equal pro- Metals eased and oils steadied portion, while on
Teas export after small early declines. front British sales to the six-were steady but rubbers sollen- nailon Common Market and the ed. seven strong European Free Trade Asscciotton were ench up by 10 per cent.
British
exports America increased
100 278
73% 74% 200 74
17.40 17,00
1000 17.770
Bik, E. Asia Lombard Wharf Co Talkoo Duck RK Cas
210 43
200 c 17.7O
2000 * 17.00
430
140
$7,00
highs
Wherlock
There were 33 new 1960-61: Decl
four new! against only
11 11.10 2000
11.20
4000
$1.10
27000 + 38,10
123 IMS
300 L 128
Inws.
The
petroleums,
cars,
in stool business in more closed unchanged. than year, Iron Age magazina said today.
The metalworking weekly satri
a Blarel rebound wilt depend on
a turn around in present cor induty orders,
45
The current market is a stand-
paper said, aff, the trade improvements in orders from beca users have general sterf
ffset by severe cutbacks from the car industry. if it were not for the bad news from Detroit, the magazine added, January orgere would show a substantial pickup.
New orders were placed last week by Detroit for March, Iron Age said. Much of the set back for tonnage kas been booked March and the rate of order- Ing for the month looks boller than in the two previous months. ---UPL
Textile market
New York, Jan. 25. The cotton textile market displayed a steadier tone today.
utilities Ch. Prov. and tobaccos advanced. Steels, rails,
electronics. aircraft-missiles and electrical mostly were equipments lower.
The Dow Jones 30 Industrials were oir 1.07 at 037.72. Bilt in- Standard and Poor's 425 dustrials pained seven cents at 304.11.
Volume rose to 4,470,000 shares marking the 12th four million plus day in the 17 trading days so for this year, 4,280,000 compared with shares, traded yesterday.
NEW HIGH
I
25.30
24
300 L 125
250
100 120
700
155
200 4124
1000
200
HK & S.
Tratet
42 421 1500 ~ 40%
500 # 42%
INC Land
30 00
1050 61 62
2000 424
400 B
100 82
300 / 1
000 31
1000 DO'S
400
DOO
80% BO
0:00+0013
સમય ન
1000 03
+ ** 002
Yaumati,
(Ne)
HK Tram +
500 3334
30% 30%
500307
1000
3034
Amerleon Telephone & Tele-Ch. Light gruph aguin was 1 star per- former as it rose $2.37 to i another high of $112.37. Inter- national. Business Machines, which gained $21.50 yesterday, gave up $11
profl takers to today,
Of the 15 most active stocks, nine advanced, and six de- cliued,
Ampex topped the list as it fell
142.800 4 to 21 on shares JMQD lant markets was second, advancing 1% 30% on 188,700 shares.
Sperry Rand was third most active, down 17% to 215% 97,200 shares.
Activity involved largely spet selling of cloth but milks noted broader
Next came AT&T, followed interest 111 forward goods from a number by General Electric, at
11
of conv TIETY.
67.
Electric
31
12
19
1000
1000
3124
300
12
Telephone.. 41% 42!2
1000 e 42
01
(New!
G. Cement
Datry Faror 32 2
2000
Watson
10% 41%
Inv.
1.23 2000
Revlon dropped 4% in active According to market reports, dealing: os traders "sold on the one or
LWED mills Fold fair
nows" its plan for a 2-ter-1 Ame the popular 80stock split and raised dividend. | Teile quantities of Equare print cloth for die- liveries through the balance of the year.
Alias Powder, planning on 4- for-1 stock split and acquisition Nanyang Ordet for wool goods were of another firar, advanced 1.
Apanil. Prices were unchonged to: higher
Australian wool nuctions and up at the South Africar sales Spot busines predominated Is the synthetic Inbrien market--AP.
Martin CO. dropped 11⁄2 points, General Dynamics 1, and Jones & Laughlin 1.
Reynolds Tobacco gained 11⁄4 and Liggett & Myers 11⁄21⁄2--AP.
P.O
ORIENT
LINES
EMBARKATION NOTICE
R.M.S. "CHUSAN”
EMBARKATION: The ship will be berthed at No. 1
BAILS:
BAGGAGE:
Pier, Kowloon Wharf. Passengers should embark between 2.30 p.m. and 4.00 p.m. on Friday, 27th January, 1961.
1.35
12.30 12.00
Aul. Rub.
0.70
Rub. Trust. Humphreys Realty
Star Ferry.
int' Inv. IK & FE Iny. *
ailman
7.30
1000 20
2000
7.00
1000 12 3.3S
2000 + 735
230124 2000 2 12.80 1030 ve 1234 4.35 33.000 ur 6.00
5000 + 2.03 1000 # 6.63 70000.0
1.60 1000 4 71%
21 2140 1800 sa
500 273
1.00 1.975 5000 (1.925
23090 / 1,923
11000 1.925
400 (224 279
World
rubber
market
tho
Long and undated pilt edged securities last further ground, Latin while foreign bonds were nearly
thandle.-UPI.
to
moro
the final the average and in quarter moved 10
per higher than a year earlier.
cent
TOTAL EXPORTS
Singapore, Jan. 25.
Total exports and re-exports Oversoas advances were dis-
£9,877 In 1060 were worth and prices appointing
million against Imports valued eased sharply at tho
at 24,550 million, provisional opening on fairly general | sgures from the Board of Trade solling.
There was some shortcover ing at lower level but condi- tions were quiet throughout the russion.
reserve
res
of
Interest in lower sheet wide- though business sprend tricted due to Sollers.
Afternoon market was steady with prices rising to the day's high of 79% cents. Lowers In terest thinned out of lack of setiers at higher level.
In London, the rubber market was quietly steady with spot quoted at 234 cents.
In Amsterdam, the market was quietly steady.-UPI.
Exchange rates
showed today. They took no account of "invisibles" like in- surance, shipping, and banklag earnings.
Exports held more lovel through the importe staged a
or less
year but continuous climb, although their race of
trailed oft growth
towards the close of 1000. Imports of finished goods into Britain jumped by 38 per cent between 1939-40 and one-fifth of this increase was accounted
for by the delivery of Ameri- can-made ahrliners.
British Imports from the sterling area made one-third of all overseas purchases, but they Recounted for one one-eighth of the total increase.
Closing prices
ily, Consolidated=£43-7/10. 31 Conversion-219E.
32. Savings 1935/03-CL90-15/31.
3. Savings
3. Savings
JI WA Loan-33
Overseas Bands
6% German (Dawes)~~£9931⁄2 Bi. Japanese, Assented-153.
Bank Insurancer Barclays Ord-68a Ed. Chartered Bank-556 34.
Assurance-15 m. tarkong Blank-101 pot.
Ilaya Bank-in Cd. Lombard Banking Ord-174 754.
Oils
Burmah 01-30 04.
Royal Dutch--Cl3%. Ultramar Company-27a 7140.
Steste & Engineering Babcock & Wilcox Ord-Ja 1990. United Steel-aze 34. Viellers Ord-22 1154.
Electrin Acc. Elec. Industries-tls. Kl. Elec. & Mun. "Inducities— 1150.
English Electric Ord-335 34. General Electric Ord-31.
Industriale
Astor, Porian Canent 7. T Dunlop Rubber Ord-210, 1158.
Turner Newall
Walleyer Ordland 3d.
Boardman, Marden
Glimers follings) Ord-34, Blandard-Triumph-10s 47d. Wiggins Teppe Ord 51 luiga. Haridson's Bay-£82. Westland Aircraft—jd5,
Imports from Australia fell by 11 per cent to a Jevel 20 par cent below that of 1957, but there were increases in imports from most of the main sterling countries Including oli from the Persian Gulf, copper from Rhodesia, TUDDET from
Jute Malaya,
from
Pakistan. 20.30 and clothing and manufactured
100 goods from Hongkong-UPI.
קל.פ
Business war done la the local Unofficial exchange market 12 mering at the following rates:
8. dollar (per $1) Sterling notes (per £1). Australian notes (per EU Indonesian Rupiah (per 100, Siem ticals (per 100)
Singapore (Straits)
12.70
2.85
arca
U.S. EXPORTS WILL
SET ALL-TIME
MARK, GROUP SAYS
New York, Jan. 25.
The National Foreign Trade Council today pre dicted that American exports will hit an all- time high this year.
But the United States again The Eroup estimated total will have a balance of pay- U.S. foreign expenditures for 12.40 1000 @ 12,50ments deficit-for the fourth the year at $20,000 million and straight year. The 1081 Agure receipts at $27,000 million--UPI. 400 10.00 will be abou $1,000 million, 100 10.80 the Council's Balance of Pay-
10.40 16,70
214
Waterboat. 3015, 3135
Kelantan
Sungala Underweitern
Rope ......
1. Craw... Cold. MacE
(Ord.)
1000 18.50
24000 256
13000 2.525
500 301%
menis Group climated. A sharp BOOG CA 21: drop from 1960's $3,200 million, The group predicted the U.S. will export $10,000 million worth of merchandise and im- port $15,000 million worth.
200
301
5000
2.20
1500
4
12
43
23.40
44
151
New York cotton
New York, Jan. 25.
The export figure will top
the $19,000 million record set in 1959 and estimated to have been equalled last year. The import total will be higher than in 1000 but will fall about $200 million short of the $15,000 million record set in
1059,
Last year's Imports tofalied $14,000 million the group ported,
12-
The estimates are "predicted The cotton futures market of
on an improvement in the level business activity in the advanced in early deal United States during 1001 and ings on commission hausa) on reasonable stability in the buying,
price level," the Balance of gave Payments Group sald,
months
IMPORTS
Chemicals
Chemicals
Ord-26
.Monsanto Imperial Chemical Ord-099,
Paper
newater Papers 80s 3d.
Ord-521 34.
De La Bue
Tobaccos British-Amer, Tob. Onl.-624 Oct. Imperial Tobacen Ord-094 Gd,
Motors British Motor Ord-15% 411⁄2d. Ponte Hoyce Ord-43. Hawker Siddeley Ord-28 G
Textiles Conta (3. & P.1 Ord=588. Courlaulda Ordudes 19150. Lancashira Cotton Ord-C7s.
Stores
Great Universal Ord-la. Ivan (J)"A" Ort-038 415.
Ord--061 Marks & Epencer "A" Woolworth (F.W.) Ord-50s ad.
Bawmaker
Ord-20 760. Canadian Pacine Ord-10. Hongkong & China Gas-15%, Indo-China Det. Ord-243 11jd. P. & D. Steam Nav.
J
Defor
Atsnew Beers Def-1350 ?144. Praling Tubu 140. Rio Tinto (Bearer)-21%.
Stabbers & Teas Anglo Indonesian Plent-43 34. Ceylon Tea Ord-201. Imperial Tea Ord-1ts 0. Kuala tamony-Kadong--by 5d. Lambak Rubber-dīs,
-Bruter.
COMMODITY PRICES
COTTON
LIVERPOOL
Closing prices all in pence per lb.:
2334-2318 24-342
No. 1 Rad spot
**
2016-233
Settlement house term)
Jan./Ms.
Apr/June
July/Bapt.
Nov./Dec.
Jan/Feb.
24-24%
24-241)
24-244
General markets, c.lf. baste, pocter:
AMSTERDAM
Feb.
Mer.
Talata crepe
thin Feli,
American Contract
thick rob.
Миг.
3.00
May
July
23.50
Oct.
Deo.
26.30
Mixed Contract
Mar.
NBY
July
DOT.
Dec.
-UPL
RUBBER
Some Jater The ship is expected to sail at 5.00ground no hedge selling and quidation inercoat. The buy- p.m. on Friday, 27th January, 1961.tg was predicated on sentiment The group, composed of lead- thut collon prices may be corporations engaged In higher rext season under the foreign commerce, predicted im- US government price support ports of automobiles, steel and programme.
meat will docline this Continued optimistic views on while miscellaneous consumer the cotton export cluation and products will increase. the report
Form of
products (except buying of
Closing prices all in Straits print cloths in the cotton), dala processing machinze cotton textile market for de-and pharmaceutical "and 'eise- | cents per lb. fq.ts. Malayan livery into the fourth quarter tricnt prochicks will well the ports:
Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 Gato), Canton Road, by 5.00 pm, on Thursday, 25th January, 1961,
SUBJECT TO CHANGE
Agenta:
MACKINNON, MACKENZIE & CO. OF HONG KONG LTD, Telephone: 85213/0.
sono forward
year,
of the year also tended to export agurus to offset losses No. 1 Feb. Mar.
bolster cutton futures-AP.
Unit trust
First Hongkong Fund: Buyer Price $1.18. Soler Price: $1,19,
stock products,
No. 3 Tob.
in autonetruallon machinery, No. 1 Feb.
SINGAPORE
2014-2014 2011-2012
20
Closing prices all guilders per kilogram c.l.t. Feb.:
No. 1 rubber
No a rubber
No. 3 rubber
No. 1 crepe
31 buyers 229 buyers 1.20 buyers 2:44 nap
-UIT.
KORRIGN EXCHANGE
LONDON Closing rates;
How York
7015-7034
70$$ 79!
Montrest Amsterdam
281-784% 7914-7812
Aruld
rokturi
Paris
RE
niretati,
No. 4 Teb. Lamina copper and cotion.
Spot rubber undsleď The group predicted a sharp blanket crepe... drop in the outflow of private | No. 3 païs crepe 4, 63-19
La cplar but a alght The
in, the amount of governmscht
fundi spent abroad,
LONDON Closing prices all in ponco der. Zurim
the Financial Times declared today.
IIS
shipping correspondent
sid:
new
The net
of Infow
British
aver
the
ship Aluminium features of orders 10 the building industry last three years has represented trawler's fishroom only 40 per cent of the capacity of one year of U.K. shipyards
"As a result the industry has been working-off rapidly the onder 'buige" of previous years has and is total order book been more than halved over the 6,800,000 3-year perind from groes tons to 3,300,000 tons.
As a solid block of tonnage, theke orders worth about £500 million would represent over two years' werk for the indus- try.
A feature of a 127 ft. (0.A.) motor trdwier Winmarleigh recently completed at the south of England yard of Vosper Ltd., Portsmouth, for tho cast coast firm, Fleetwood Nour Water Trawiors Ltd., is the use of aluminium for the pound boards, shelf
and boards
fishroom stanchions.
But the four-year-old depres- sion in shipping has led to inany
Although now recognised as of the contracts being postponed fairly common practice, special until there is a recovETY In
caro has been taken in this shipping freight rates and
ship in the selection of the ex- large number of yoris now havo | truded sections for the various big gaps
in their production parts of the structure and in schedules."--Reuter,
their arrangement within the fishroom.
Clyde shipbuilding
report
The longth of the fishroom is 36 ft, the capacity 7,400 cuble ft., and the greatest height from tank top plating to the deck- head is 12 ft. There are four rows of eight pillars each, and a total of 48 pounds, together The 38,000-ton deadweight
with the ice pound at the ex- tanker Foylo the largest treme forward erat. Apart from vossel built by Charler two complete bays, at the aft Connel &Co., Ltd., end for bulk stowage, all the Ish pounds are fitted for closed Scotstoun, Glasgow, has spacer shelving, the rest angles been on trials in the being supported by cleats at- tached to the stanclitons, All rivor Clyde.
boards are 3 ft. 9 in. in length.
The stanchions are of a tapered
She is for the Charter Shipping Co. Ltd, of Bermuda end is a turbine-driven vessel,
Engined hollow design with
by Barclay, Curle & Co. Ltd. laws (n feature that makes pos
reduction in weight and of Glasgow, she has a capacity sible
cost) and are fited at their of 17,800 1.H.P. with a speed of
beads md heels with soll 161⁄2 kmots.
aluminium piugs which in turn are bolted to steel palme, with non-metalle inserts and wash-
sate- ers, this being the best
galvanic action guard against at these places. The eleats,
The Glasgow firm of Fairfield Shulpbulding & Engineering Co. |Ltd., shipbuilders and engineers, Just completing the re- ergining of the Belgian tanker Elisabeth. Built and engined in designed to suit the stanchion sections and lo allow easy Belgium, this vessel was sent to
bre
Ing.
the Cidye repairers as a result cleaning, aro attached by weld- of a small contract which the Deiglan firm of owners placed with Fairfields for gearing.
This business of carrying out repairs
installations and
in vessels built elsewhere is a new line but it is ikely to be the feature of the Clyde this year. Fairfields will have just finish ed work on the Elisabeth when Fina America takes her place for engine repairs and new res dustioni gearing.
Fairfields have been supplying gearing to a number of cources including the United States
Navy.LPS.
Hint of speed-up in' shipbuilding
The shelf board sections throughout are of a special flot surfaced type designed to the requirements of the Boston Deep Sea Fisheries Ltd. (the parent company of Fleetwood Near Water Trawlers) and Intended to eliminate possible damage to the fish. An incidental feature of the design is that it provides a considerably greater stiffness/ weight ratio thun the murmel light corrugated shelf board, and tests have indicated a defection of only 40 in. under load equivalent to a uniform distri- buted load of 400 lb.
A
The vertical boards are of the corrugated type, and in order to provent the ends of the shelf board sitting into the corruga- tion of the vertical boards the rost bars throughout are of a 34 in. x 2 in. T-section.
A hint that ships might be
The linings and back halves built and launched of the Bishroom are of timber, within a month and com- with aluminium angles and chan-
pleted within another two bels as shelf and pound board supports. A 2-in. thickness of months was given by Mr Onazate insulation is fitted.
Since the completed of the Winmarleigh, a sister ship, the
man
of
Cyril Thompson, chair-
Joseph Thompson and Sons Ltd., Sunderland,
Haselbech has been launched by the so- at
Vosper for the same owners, heri the shroom being equipped in a similar manner. Both vessels liner will operate from Fiestwood.--
cont launching of 11,460 tons cargo St Rosario.
He said she had been ordered by South American Saint Line |of Cardiff and had taken three
months and a belt
to build. "When we consider that it has been the wetiert svinter for alty scars and the Christmas and New Year holidays ure included, I think it is a tribule to work- men and offcials.
"With new methods I do not see why we should not bulld them in a month, and finish them in anoflær tus monilis,"
he stated.
The St Rosario was the first ship to be launched on the River Wear this year and was named
Jessica Boott
15# by the Ton,
18131-18.30
Ellis, the 19-year-old daughter
of the chairman of the ownera,
LPS.
Kelvin diesels
for Germany
The first Kelvin diasol
⚫n-
gines ordered for use in Germany on barges havo been sent out from tho Scottish engine works of the Bergius Co., Ltd.,, of Glasgow.
The nem are to supply 24 of their T. models rated at 240
already been sont nut,.The
It is the first Thompson-built and the frat eight have ship to, be filled with the new firm have also received an order Doxford "P" lypo "engine and
will trade between the United) for 13 diesel enginca. with a Kingdom 46 South Kenorice rating of 180 sh.p. for Japan-
LP
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