1961-01-31 — Page 2

THE CHINA MAIL,

TUESDAY, JANUARY 31, 1961.

NINTH CONSECUTIVE ADVANCE

Wall Street sets record following Kennedy's speech

Now, York, Jan. 30.

The stock market rose to another all-time high, based on Standard and Poor's 500

stock index, in very heavy trading today. It was the market's ninth consecutive - advance.

pared with 4.510,000 traded on Friday,

!

shares Cana. Ek, of Comm.

The Dow Jone 30 Industrials 10 7.85 1 654.64.

AN of the 15 mot active

higher and The market was netive at the opening. It rallied sharply round noon and con- the close, thed to prove to free were around their best

the day at the Anal bch stock advanced. [1

was necompanied by al which lat, ticker tape.

formed the broad Brokers

the reaction of Wall advance

Kennedy's Sirert to 'resident State of the Unlon message. The stronger order for president's defences sent the aircraft and micile shares soaring.

Gold mining isang devlinoul Marply following Kennusty's pro- toured determination

f the U.S. dollar.

Third

Lockheed was the most active, Lip 3 at 20%, on 122,800 shares.

Second was Sperry Rand, up to 23 on 88,500 stures, was Standard Oit (New Jersey), up 5 al 15x on 79,200 shares.

Next came General Electrie, up 3% at 70 4. and Baldwin Lina-Hemilton, up 14 at 15.

KENNEDY'S ORDER Kennedy's order for strength. deeming the Polaris programme helped Leltheed, the prime enn- tractor for the missile, To top of the most-petive list od

Standard and Poor's 500 plock: indes gained 23 cents to $01 97.

Its last new, lgh was set in Fri-bored Genera Dynamic, day at 01.23 ents.

13

which makes The submarine,

the index, the quoted value of 1 gaj to 44% as sexth most active

stock listed on the New stack. 2016

York stock exchange gained Also live, Ameriesn about $4,500 million. It

Win

79

This indicator's best rise rare January 1 when it was up vents.

I was the broadest market la history with a total of 1701 Issues crossing the tape. The previous record was 1,294 sel

Che last Tuesday. Or

total 134 advanced, 357 elined and 210 changed.

efused

Tele

phone no. 12% to its latest his- tome high of 316',

|

Campbell Soup Co.

Car 13. Là Co,

Chase Manhat. Bank Chuysler Motors Colombian Carbon Co.

Corning Glass Work Consolidated Edison Colidated Paper Dialer Seaproms Dominion Stores Doug Airalt Dupont de Nemours Easton Kodak

| Porto Coro.....

Ford Motor Co. of Cana. General Electric

Generat tetor Gen. Tel. Fre. Goodrich (n. F. Cu. Goodyear Tyn Great Northern Railway Hoseinke Mining Co Imperial Tobscen..... In Hudness Machines Int Harvester international Nickel int) Tel & Tel

Kennica Capper Lockheed Alterati

Lucws Incorp,

Lone Star Cement Co McDonnell Aircraft Montecatial ..... Stontgomery Ward

Westing-National Cash Rex. New York Central Noranda Minea Ltd. Olts Elevators

hrive Electric rebinde: 2. and Being ruse 2.

Bone Mines thread a point and Hinge-tate Fi as the gold shares JB bich.

Business

International

lairs

chines

de

-

There were 129 new 1900-61 highs and only four new lows, Most gains ranged from a tw rents to around $4 a shore.

LEADERS

Ma-

9. Polaroid 3.

Martin, 3. United Aircraft 231, Texaco 3%. Ford Thokol 13),

1. US. Steel 1%. Baltimore

& Obin 14. nod

Philadelphia

Electric 1% following a 2-for-1 stock split proposal.

Chesapeake & Ohio advanced PAP

Closing prices

Steels, motors, utilities, petro-Abtibi Pwr & Paper

ralls, tobacco i Jeus vʊppers, and drusts led the broad d- Allied Chemteads

vance

which

major sectur

included

The Associated Press average of 10 stocks ro 2,40 to 235.00, only below its all-time peak

You

to

set on August 3, 1959.

5,100,000 Volume shares, the largest since Decem- ter 30 when turnover was 5,300,000 shares. It marked the 15th four million share-plus res- sion so far this year. It com-

Algoma Stev) Corju.

1

Allis Chalmers

American Metal

|

Am. Natural Gas Almür

Asbestos Corp, . Baldwin-Lima-Han

Baltimore & Ohio Bank of Montreal Bank of Nova Scotla

Berch Life Savera 3. C. Tel. Co. Bell Telephone

Beneficial Finance Bendix Aviolan Corp. Boeing Alplano....

15%

00

Pacific Gas & Blee.

in Aberen Anmel of Canada

Royal

Rheem Mfg. ...... Sears, Roebuck & Co. Southern Co. (The)

Sperry Band

Steel Co.

ef Canada

United Gas Cort

Westinghouse Elretre

Western Union Tel, Co Wentworth (R. W

SUGAR

70%

7311 16

355424

UPI.

MARKET

New York, Jan. 30. World No. 8 sugar futures today closed 1 to 3 points higher with sales of 38 contracts.

Domestic No 6 sugar closed

no sales unchanged with ported.

re-

Trading in the world contract was scattered ond without par- ticular feature.-UPI.

THE UNION

OF

SOUTH AFRICA

FROM

SOUTH ABRICA

C.M. 31-1-81

Trademark law drafted

New York, Jan. 30.

HONGKONG Record exports LONDON

reduce Canada's STOCKS

trade deficit

kong

STOCK EXCHANGE

Our Own Correspondent

Ottawa, Jan. 30. Business done at the Hong Record exports helped cut Canada's commodity trade deficit to $100,500,000 in 1960, its lowest level in six years, the Bureau of Statistics re- ported today.

this Stock Exchange inorning amounted to approxi- mately $7,000,000. Noon quota- tions and the morning's transac- tions:

Sales Abates

Duyar Heliers HK Dank.. 2025 1830 10 17:3

30 & 1000 70 G 2010 201819

10 1023

1820

50

1020

100

1025

30 153)

301825

31K Bank

Lon, 1540

k Asla”

200

Lambard

43

Wharf Cn.

284

200

100 20

Talkou Duck

74

75

200 to 14%

800 14

1 Gas

18 10.10

The International Chamber Wheelock

Q

of Commerce announced today it hos drafted trademark law for econo- underdeveloped mically nations, designed to pre- vent infringement imitation of trademarks and unfair competition.

and

The body said it is urging all countries which are not yet, a party to the International Con- vention for the Protection of Industrini Properly to "adhere to it al the earliest possible

Ume."

COPIES SENT

"The model low," the Cham- ber said, "redeels the stipula- tions of the convention an last revised in 1958 and also indi- views of cates the unanimous the interstional business world on points which are specifically covered by the convention."

In addition to the 40 nations the convention, belonging to coples of the model law are he

witn Ing sent to all countries particular attention to the 15 African newly independent nations which are in the process of adopting new legislation hi

soid- the field, the Chamber UPI.

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 ---

METAL INDUSTRIES

Steel, Iron & Pig tron Mining Machinery

Rock Drille & Tipped Tools Agricultural Machinery &

Implements Industrial Machinery &

Sporos

Motor Spares & Accesories Pipes, Tubing & Fittings Taps, Cocks & Valves Cast Iron Pipes & Covers Bronze, Hearing Natals &

Seldors

Bollars & Condensers Wire & Wire Ropes Bolts, Nets & Fasteners ELECTRICAL INDUSTRIES Batteries

Footwear of all Kinds Blankets & Rugs

Worsteds

Wool, Raw, Scoured & Tops

K. & S. Ifotel

1000 74%

100741

16

The deficit-surplus of im- hercased by 15.1 per cent to ports over exports compared | $277,000,000. with onc of $300,000,000 in The sharpest reversul ce- 1259.

eurred in the "all other nations" Exports, boosted particularly bracket where u deleit of $83,- 10 Britain, other Common-000.000

in 1950 breaurea wealth nations, the European favourable balance of $168,000,- Common Market and Japan.

rose by some five per cent over 000 Just year. Exports were up 1930 to an

all-time peak of 23.9 per cent at $1,100,000,000, white Imports tell from $072,- $5.395,300,000. Imports, on the other hand, declined fractional-000,000 In 1950 to $932,000,000.

--UPI. ly to $5,185,800,000,

e500 other

500 ..

4000 18

1000 18.10 10 10

11.90 12.1 21000 15

3000.0

11000 1169

32000 11.00

€15 11.BA 3000 of 11.90 19000 à 12

2000 12.10 0000 1 12.10

The overall picture showed Canadian sales down slightly to the United States, but up to all major markets. Pur- chases also were down from the United States, but up from Britain and the rest of the Commonwealth,

MAJOR TRADER

Despite the decline on both sides of the ledger, the United States remained by far Canndo's major trading partner, account- Ing for 58.3 per cent of Canada's total exports and 07.3 per cent 023 23.20 of Its Imports.

21.30

to Britain

075 + 12 7000 13.10

Canadian exports

2000 27.40, Jumped 18.4 per cent to $924,-

imports 900,000, while

from that country Tose slightly to 3538,800,000.

11K Dock Ch. Prov.

125 120

5000 12 1100

125

274 27.00

2000

1000

443%

43

1004274

30043

C$

50083

321 44031)

B00 54

Yaumati

134

140

72 124

100 133

300-115

HK Land

Ex. 14.

יגם,

(New)

127 120

200' 130 325 or 124 23 of 120 200 127

50

600 A 130 31% 34% 1500 34

1700 e 3412 500 + 341 200 v 20.90

Tra

C. Light

9.30 28.40

12500 20.ID 20000 20.10

400 * 29

5000

29.10

2800 20

500 G 28.50 500 20

As a result, Canada

was left with an export surplus of 5330,100,000 compared

1950's $205,700,000,

Canada

favourable

also

U.S. steel output

for February

Clovelond, Ohio, Jan. 30. Steel production in February will be close to the 6.5 million ingot tons proTM duced in January, Steel Magazino predicted to- day.

However.

The Metalworking weekly said there was not much likelihood that February will be better than January because or- no over-ail ders are showing

in and,

some improvement cases, are running a little behind last month. with

cald they The stecimakers expected an increase in order- ing

for quick deliveries in February. Some have been gel- inting 40 to 50 per cent of a month's business after the first of the month.

Weekly

opera- tions apparently

the

enjoyed balance with rest of the Commonwealth, 1- cording an export surplus 1080 of $55,700,000 versus $38,- 600,000 in the previous Exports jumped 20.8 per ent to $333,300,000, while imports

་་

12.30 121 1900 @ 12.30 500 22.30 Rubber 0.00 0.95 2000 of 6.00

Nanyang

A.

R. Trist..

14000 1.0

9000 6.25

1000

4.00 7.00 7.70 34000 5.00)

2007

5000 S 6000 7.70

Humphreys 3128 0600 1020

1.923

15000 # 1.95

2000 or 1.03 10000 & 1.9M

10000 1,0

234

6000 + 1.93

1000 m 20 6600 7 20.10

200 g 22.30 200 20.10 1000 # 23.10

2500 0 29.2I 800 02530

2000 # 29.30

0100 0 29.40 1000 6 29.30

Electric

301 302

600 304

Star Ferry

30 Int'l Invest. 12.80 1320

2200

300

1000

20300 L 12.70

732

Telephone

433; 44

ILK. & FE.

1300

+4215

Inv.

2000 c 421

www.

1000

1000

100

Gimon

243

H

stecimaking

have reached A plateau of about 1.5 million The magazine estimated this week's output will be abort the same as the weekend ended was up January 28, which slightly from the previous week's production of 1,499,000

tons.

Production cutbacks In the car industry were blamed for of steel production to future make moderate gains. Other consumers of sheets and bars were reported stepping up pur- chaves and demand for such pro- ducts as in plate all country goods and line pipe is drming

1000 * 12.00 up.-UPI.

1000 or 12.BO

10.70 16.80 1000 a 35.60 3.15 3.20 2000 3.10

7000 e 3.13 2007 ( 3.20 200031 11000 (4 3.20

5000 43.229 2000 +3.20

Exchange rates

In the Toral

exchange market this

FIRM

London, Jan. 30. Stocks closed firm and most- ly quiet today, although a rush of buyers orders swopt Over Imperial Chemical Industries 다 investors clamoured to get into the company's new $98 million issue. Textiles showed mostly signs, stores and breweries re- gained their footing, but steels surrendered early gains. Many blue-chips edged ahead. Rubber were in favour but tens were Gulet.

plus

tip the Cape buying firmed golds, with Lorraine aud Do-

the minion Reefs

standout Isities.

Tiny Armed but coppers drifted. Oils vaulted ahead. paced by British Petroleum, up more than 2 shillings.

General Motors and Bethle- hem Steel with gals of 2 and 2 highlighted a firm ist of dollar stocka, Red Chinese and Greek bonds were higher among foreign lens. Giltedged securi- tea steadied.--UPI.

Closing prices

British Government Securities 2. Commukiitated-£4336.

Conversion-257-13/15.

35. Funding 1962/04-CH-3/18, 2. Baving 1065/65-90-17/32. 3, Savings 1000/10-TI1⁄2. 3. Savings 1985/75-£72-3/28, Jim War Lean-C

Overseas

-Bonds

German (Dawn)-DOG. Japanese, Amented—£1894.

& Insurances

Barclays Ord-elly Id. Chartered Bank-Ble 3d.cor. Guardian Aurance-1229 3. Hongkong Bank Lloyds Danic-724.

cor.

Lombard Banking Ord-18.

ofla

Drita Petroletima 3d. Burmah Old}#

Shell Transport Ord-1431 34. Royal Dutch 1345.

Ultramar Company

3.

"Steula & Engineering Habcock & Winx Ord—ils 34. Harland & Walt Drie 10d. United Steel-509 30. Vickers Ord-28

d. Biscuic Aston, Elec. Industries!] ( Elec. & Mus. Industrieo 13 dd, English Electric Ort32 Od. General Electric Ord-31s 10.

Industrials Asie. Portland Cement-728 4:50. Dunlop Rubber Ord 210 100, Turner & Newall Ord-19 731d. Unliever Ort-150 1150. International Computers-14% 31.

Marden Ord-3 3. Boardmoldingul-201

Carreras "1" Ord-45 412D Fine Spinnera Orth-31s. Gilman (Holdings) Ord-37!§. Cars On-18 3.

Standard-Triumph--10, BÌ,

Teape Ord-538

Jason Ord-39 101.

Hu Bay-&-11/32.

Westland Aircraft-100 114,

Chemicals

Ms.

Monsanto Chemiesta Ord-24, 115d. Imperial Chemical Ord-70s 70,

Гарег Bowter Paper Dist--55 3d. De La Rue Ord―30.

Tobaccos British-Amer, TU. On-03s nd. Imperial Tobacco Ord-70s.

Mators

Business was done unomelai

morning at the following rates

US, dollar per 31)

5.12

Sterling rates (per £1).

15.35

2000 3.20

Australian notes (per 41 Indonesian Rupiah (per 100).

12.70

My

2.80

2000 10 3 200

Stam ficals (per 100)

20.30)

Singapore (Stralis)

(New) 42 Cement

60 6019 Dairy Farm 3419 3434

500 43

1200 4314 2700431⁄2

100 43

1775 60 41 1500 6315 1000 60 344 1300. 3422 34262434 1300 (24) 3000 3415

Underwriters 32,10 Peak Tranı

Fully Paid 打你 Poak Tram

Party Paid

44

Lane, Craw. 4315 45%% Construction 1015

0000 € 3.50 16000 6 3.173 1000 € 3.20

Watson Allied Tit Textile

1000

+7

ร

1000 4 75

Yesterday's Closing

COMMODITY

ECOTTON

NEW YORK

No. 1 Feb.

Mar.

No.2 Feb.

No. Frb. No. 4 Feb.

Spot rubber unbaled

Blanket crepe

No. 1 pale crepe

LONDON

B2%-5J!%

Closing prices all in pence per

General markets, elf, bands, poror:

Closing prices all in cents

per lb.:

Spot

39.25

ib:

Mar.

May

29,70

Jus

3320

No. 1 as spotka Seillamment house term Apt./June

2134-2392

2321-231

PACKAGING

Onl

33,70

July/Sept..

336-21

INDUSTRY

Des

33.18

Nov./Dec.

231-24

Mar

3420

Jan./Feb.

24-241

·Paper Bags & Paper Socks Cartons

May

HAT

July

24.03

Feb.

CLOTHING & TEXTILES

Maulded Containers Egg Trays

NEW ORLEANS Closing prices all in

May.

}%-20% 271-7314

cents

Estade crepe thin Feb.

per ib.:

tick. Feb. 23 AMSTERDAM

Spot

20.65

Mar.

3220

MAS

Steady Made Clothing Fashion Woor

AND MANY OTHERS!

MANY

July

33.00

No. 1 rubber

Oct.

54.70

No. 2 rubber

33.00

No. 3 rubber

No. 1 crepe

Motors, Generators &

Switchgear Cable & Condolt Transformers & Insulators

CUT OUT THIS COUPON AND SENG TO 1***

The Senior Trade Commissioner: for the Union of South Africa in East Asta.

Lit Rear, KPM Buliding, Robinsan Road, Singapore.

Please send me the names and addresses

of South African. Expecters often.

The name and address of my firm is as follows.

--- ADDRESS = _.

NAME

Dec.

Mar

MAY

July

LIVERPOOL

Closing prices all in pence

per lb.:

American Contract

Closing prices all in guilders

per kilogram, est, February:

2108 buyeru

2.29 bayern

2.44 T.

UPI.

METALS

LONDON

Unit trust

First Hongkong Fund; Buyer price: $115. Seller price: $1.22.

PRICES

SUGAR

NEW YORK

1.20

Closing prices, all in cents per 16.:

Contract No. (world)

Mar: 903; May: 288; July: 2.07; Sept: 28: Oct: 288; Spot (FAN Cuba) 3.03.

Tolai Goles: 34 contracts, Open Interest: 1,004 contracts.

Contract No. 8 (domestlo) Mar: 0.93; Spot (C.14. N.Y. duty): 805-UPT.

FOREIGN EXCHANGE

NEW YORK

1.007%

2.0030

Closing mies: Casada England.

oficial

30+

4.5030

90-day

2.0000

NEW YORK

Australia

2.2430

Mixed Contract

jb:

Closing prices all in cento per

Lead.

March

New Zealand

4,7005

South Africa

020085

1430

9.03

Еталсе

2041

May

10.01

W. Germany

.2307

Zinc,

March

Jolland

30.43

May

10:5

Norway

2017 .1600

witzerland

Серрак,

India

105

March

Pakistan

May

LONDON

per long fon,

Closing rates:

Mpyara Bellbra

New York

Montreal

Tin,

closing

прод 3-nonth

714

Amsterdam

19501

20556

prices, ́ail in cents per lb

Marcb

2102%

MAY

July

4.70

Lea

Beptember

appl

November

料

3-month

SINGAPORE

Zinc,

spot

Bimonth

RUBBER

NEW YORK

Rek rubber · futures

Cloring prices all' in: 'Etrafts eenis por th. to.b. Malayah ports:

Closing prices, all in sterling

Copper. rpel a-month

Copenhagen Fránkchai Lithon Oslo PATIN Stockholm

Milan Vierina

Zurich

EX-

1.40-7/16-2.80-9/18

00:27:05:30

Motor Ord-15s 10%. Ant Royre Ord-43s 10. Hawker Siddeley, Ord-288 716d. Textiles Calle Print Ord-60. nd. Ord~140 750, Coal M Ceartaulds Ord-438 1. Lancashire Cotton Ord-675

Stores

Great Universal On-l

Ord-B 744. Lang J Marks & Spencer "A" Or Woolworth (F.W.) Ord-5%# 11⁄2d

xd.

Miscellaneous

Bowmaker Ord--Blæ xú.

Tiongkong & China

Canadian Pacificos-Ke..

Indo-China Def. Ord-21 1 P. & D. Steam Nav. Det.-461 34. Stoll Theatres 00.

Alinea

De Bear Def-150μ 10yer, Orange 58 Invest. Trist

taline Tin-s 4d

To Tini (Bextori-£2-3/14.

man Antelon Choser-5. Western Hnings-102« dd,

Hubbers & Tea

Anglo Indonselan Plant-is 30. Cavian Tea Orth-200. Imprint Tea Ort-144, Kuala Lumpur-Kepong-3; Blåd. Lambak Rubber-154.

-Reuter,

Large turnover

in London

money

market

London, Jan. 30. Turnover was very large in the London money market early this wook as a result of very heavy tax pay- ments and the pay out of money received from Ford of America for the shares of United Kingdom Ford. In the resultant disruption of the credit situation, money was In keen demand and under the recullent shortage of credit the market was forced to borrow a fair amount from the Bank of England at bank rate terms.

Rates of 4% and 4% per cent were the rule in this early phase but after Wednesday the market ran into smoother waters and conditions became comfortabla with the rate casing to 43% and late balances obtained at down to three per cent.

There was a fair demand for bills over the week with April and "hots" sold to the ticaring banks at 1% and to outside sources at 4-9/32.

The only point of interest at the weekly Treasury Bill ten- der was the fact that the mar- ket secured only a small hum- ber of the bills, offered,China Matt Special.