1961-02-22 — Page 2

Paro 2

*THE CHINA MAIL, WEDNESDAY, FEBRUARY 22, 1961.

Wall Street stocks

Now York, Feb. 21,

Stocks tried and failed again today to crack

their high for the year.

Heavy churning produced mixed patterns in most groups with the better gains scored by those issues outside the popular averages.

Money lending and building 1 c.1.T. Financial Corp.

led the up- { Cluest Peufradr shares once again

ward movers while electronles, Colgate-Palmolive Co.

actors, national defence issues and store crains were mostly higher.

James Tocett, Johnson and Johnson and Scott Paper limb-

Commercial Credit Consolidated Paper

Consumer Gay

Continental Cars

Continental Gt of Dei.

Creole Pet

Crane Co.

and Alkali

Distillers-Scagtaans

et 4 or more each, while Family! Crown Zellerbach finance, Haveg. Rovion. Inter-Denware & Hudron Co state Department Stores, Johng Menyitic. Great Western Pinan eisl. Northrop, General Dynamics,

US Vhami America Transportation bered among the better pers Puma Nat. City Bank formers,

131

close mixed

this & Freach. Southern Natural Gas

Bout Purito Hoo Sugar

Southwen Parific Co.

Southern Railway (Coin) Hierp Hock

Stone & Webatay

Suretto Mining

771%

Steng Deng Co.

Stoktly-Van Camp,

GD

11.11.

Textron Inc.

441.

Thick Chern,

30%

ka

3712

Dumion Slots

Dow Chemical

71

General

Eastera Al Le

11-

Family Filmez Corp. Ferro 3.

広いき

4*,

14.

Georgia Pscie

Gen, Pub, Util.

Gen. Tel, & Elec.... Gen. Die & Rubber Gelly Oil

Preventing the Dow Jones Ford Motor Industrial average from crack-General Dysiamies ing the resistance level that hoi plagued it for days now were Enstantan Kodak, General Electric. Westinghouse and International Nickel-ni! down. Today's volume was 5,070.000 shares.

Of a total 1209 shares traded G01 were higher, 480 lower.

American exchangu

Gidden Co.

Goodrich . F.) Co. Great Northern Hailway criminan Airgrafi

Gulf 94

Hamond Organ

Hmm Walker

Heyden Newport Corp.

volume

Homeriske Mining Ca.

was 1,980,000 shares.

Human Retrik.

Roch volume:

amounted

Kato Power

Imperial Dil

$7,180,000.

Imperial Tabaceo

Ingersoll-Handl

30 Industrials

052.89

Inland Sirel Ch. inurenical Corp.

20 Rails

15 Ulities

107.53

Johns Manville

65 Stocks

40 Bonds

Daw-Jones closing averages:

143.86 international Paper

Kaiser Industries

220.49 anos E. Power & Light

16.00

Com. futures prive fades 143.05ggen & Myeri Teb. Co

Closing prices

Litton Ind

Lari 1.

Lowenstein & Sean.

Am. Natural Cas

Au. Sugar Ret.

Ampex

Arnico Steel

Asbestos Corp..... Allas Cons. Mirung

Baldwin-Line-Baro,

National Steel Corp

Noranila Mines Laň.

Norfolk & Western By,

Norlis Amer. Avioiten Northwest Airlines (Com

Oklahomai Nat. Cos

Owen-hwein Giann

Oxford Paper Co.

43

#

27.

כני!

601TX Water Ou

14 | Tri-Cost. Warments 437

501

8

Twentieth Century Fox Film United Fruit

US. Le Ca

US Steel ↑ PC. PF Waukesha Motors ....

2015 | WexLnghouse Air Flepkee West Ya. Pulp & Paper Winn-Dixde Gloves

ם

Zenich Nadia

COMMODITY PRICES

RUBBER

NEW YORK

futures closing

Rex rubber

prices, all In cents per lb.:

Mar.

May

July

Sept.

Nov.

LONDON

29.35

25.25

20.25

Closing prices all in pence pir

Dry

23.03

11 10

METALS

NEW YORK

Closing prices all in cents

Lood Mar.

Moy

Zine Mai.

Play

Copper Mur.

May

HONGKONG

STOCK EXCHANGE

Dus Dun Correspondents

Business done at the Hong-

Stockt 27 kong

this Exchango morning manunted to approx{- inately $5,000,000. Noon quota- tions and the morning's transac- tlons!

Kafen

Shares Dnyeru RaBeta KC Bank T005 1250 230 # 1800

..

Lombard Ins. Whart Co..

Talkoo Doct

292

203

183 1804

A1090

LONDON STOCKS MOVE UP

Stocke

London, Feb. 21. maintained their advance under public buy. ing but some blue chips dropped from the running and often dipped.

Good news from Incestry

denand ard

30 1000

10 1090

10 1000timulated

280) 04 1283

12 RSS

}11-

vestors peened rendy lɔ thike an optimistic view en the longer-

201809 term outlock, dealers saki,

35 ir 1903

ht

51100 20044

FANO 202 2004 20 200 of YAKA 22001474 30074

600 1415

100 10.10

6000 or 12,40

11 Cins

per

10 19 10

1000 1 18.00

20 19

10.20

10.30

Wheelock

.12.30 12.40

11.00

11,60

I Dock

33

137

คช.14

C. Provident 76.00 2000

LONDON Closing prices, all in sterling per lang ton.:

General markets, elf. basia, puits; † Tin

1000 12.10

200 135

100 130

2001 103

2:00 27.10

1500 27.18

790 a 27

500 a 27

1500 20.BO 2000 + 15. 135000 40

300 401 1000 or 4015

1b.:

No. 1 Bm spot

Settlement kouze teran

atur

2414-2432

Apr Jude

2414-24

July/Sept.

2424-2454

421%

Nov./Doc.

Jan./Feb.

213-24 2421-243

Buyers Selle Holet ..

AC 40%

Fet

Bot

TOT

700

Mar

234-233

3-monu

803

1001)

Estate trepe in Mar 251%

Copper

1 Land

81

04

thick Mar 2

Spol

201

227

AMSTERDAM

J-month

3307

Yourhatt

135

$37

L

per kilograms, ca.f. Feb.

Sput

67

Yamat

3-mouth

672

New!

120

32

No. rubber

5.20 buyers

Zing

No. 2 rubber

2.27 buyers

Spot

No, rubber

220 bayern

3-month

6 HK Tzn. #3?á

ぎゅ

35

No. 1 ere]}N

250 buyers

-UP!.

200 or 30

Ch. Light

301 3011

Cleding prices all in guilders Lead

COTTON

NEW YORK

Closing prices ail in cents per

TOREIGN EXCHANCE

NEW YORK

Closing rates: Canada ... England officiat

30-day's

ה

2

400 Bila 1005 +85

4002 200

$100

100 100 5th 35 100 3543

100035

2303 304

700 in 331 10003014 6500 30 1500 14:30 1050 30

HKC Elec.

23 351

1505 4.30

2000

1.01-7/32

2,7000

10 Tele

400 401

Z.7935

2.7915

Kimberly Clark

Lay Tulip

Abllll Put. & Paper

40%

Aldea Ine. Aey.

GUY

MeDermali J. Boy

Merck

Algoma Steel Corp.

350%

Allied Milk Ine.

407.

Melt Iron Cury.

A Brake Shine..

4X22

Minnesota Mining

American Altine

ານ

Muzion Development

Monsonto Chemical Co.

A Cable & Radio Corp.

Motorola Inc.

AJO

American Cyanapud Co.

43

National Bæcuit Co.

77

Amer, Forgh. Power

10

National Dairy Proxt.

Am. Home Prod.

B

A Mac. & dry

$1

74

100%

322

22

1b.:

71

Mar.

7232

May

33.33

51

July

33.76

{+

Pathe Davis Co.

34.00

PO-DAYS

Bank Mantral

Tenny JC, O.

Dec

54.47

Australia

flank of Nova Scotia

Pern. Suit Ch.

Mur.

34.04

New Zealand

1605

Hvch Life Savers

ET

By Ma

May

34.04

Belgium

020040

HK Teic

B. C. Tel. Co.

40

Ittany Bowes

July

34.53

Denmark

(New)

Hell Teleplume ......

*

Procter & Gamble Ca

LIVERPOOL

W. Germany

Bendix Aviation Corp.

66

Pittburgh Pate Gla

Benguet L'ora,

Portland Gra. Elee.

Closing prices all ja

pence

Tolland

2038

Boeing Asplane

40

Publicker Bruchstilers

per lb.;

Florden (The) Co.

BOT

Pullman

American Contract

LONDON

Burroughs Add Machine

shte

Pure Ol

Mot,

23.40

Closing rates:

3714

Raytheon

May

23.84

New York

Brit Colusshia Kive.

525

Reynolds Metal

July

Montreal

Ort.

24 50

Dec.

21.64

Shell Ou Co.

433

Mar.

24.00

Copenhaga

Mixed Contract

Frankfurt

22

Saht Reg. Paper

Mar,

23.75

Ibor

1

Sebeexley Ine.

Max

2425

Cale

Scott Paper

July

Paris

31

301

Ost

24.95

Dihers unchanged.-UPI.

Brij Amer. Oll

13:1th Columbia Pwr.

Calif. Packing Corp.

Cana, Uk. of Comun.

Casa BrewEIN

Canadian Pactile R.

Case (7. 1.) Cu.

Celanese Corp.

Cat. Tractor

ung tay Dank of Canada

€311 Royal Dutch

474 Stewar Sures

Stegler Corp.

THE

UNION OF

SOUTH AFRICA

FROM

SOUTH

Others unchanged.

Amsterdam

Brussels

2.3390

G. I, Cement C95

70 1000

Dury Farin 35/4

D

500

2000 z+

4.7094-2.7912 2.7019-2.30

Wesson Allied Inv.

47

9.00

10 0111-10.63 139.70-130.75 10.344-18.3 11.671-11.07% 80.35-00,43 20.01%-2001. 15.7015-15.71

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

Canned Fish & Abalone

Canned Fruit, Vegetables

and Joms

Fruit Juices & Squashes Wines, Spirits & Malt Dried Fruit & Vegetables

Edible Oils & Peanut Butter

Breakfast Cereals

scuits & Confectionery Mols, Grain & Egys

Animal Foodstuffs & Yeasts

Fish & Vitamin Olis

CHEMICAL INDUSTRIES

Industrial Chemicals Adhesives & Glues Glucose & Starches Insecticides, Dips, Sprays, Weedkillers & Disinfectants Pharmaceuticals & Drugs Methylated Spirits &

Alcoba!. Salvents for Industry Wox & Tar

Carbide Tonning Extracts Explosives & Fuses

BUILDING MATERIALS Hard & Soft Boards Sixel Window Steel Furniture Office Equipment & Sofes Asbestos-Cement Products

MINERALS & ORES

All Minerals" & Oras Asbestos & Gypsum Refractory Maierlain

AND MANY OTHERS!

RATOR

AFRICA

"ENT OUT THIS COUPON AND SEND

The Senior Trade Commissioner: for the Union of South Africe în East Asia. "

1st Floor, KPMs Building, Robinson Road, Singapore.

Please send me the names and addrassen

of South African Exparlors of

The name and address, of my firm is as follows:-

NAME

Textilà

Nanyang Anál, Rub.

Hub. Tr

JK Land

8.15 4.26

40

20000 3512

500 40 3000 L

409005

10000 of 0.65 6300 67 9.06 1000+ 0.70 600 8.15 7000 68.20 13.20 13.40 1000 Gr 10.20 7.03 2.30 3000 7.10

8.20

(Rights). 21

12000 7,10 5000 7.03 5.30 000 er 0%

ilumphreys 27.00 27.90

Realty.

204 @ 181

1740 620

Int'l Iny.

BIO 2014 7036 0 21

500 27.00 1500 27.70 2.10 2.13 11500 la 2.10

12000 @ 2.123 33.00 1420 1000 14

JIK & FE

Inv.

17

18

302 17.40

500 1735

3.376

11Cor 17,60 3.40 10000 3.375 10000 41 5275

U. Waterboat

2.45 4

Kelantan

Sigala

000 3,40 30000 + 3.375 200221 2.00 20000 235

1200 4.10

Opposing views

on effects of

wage rise

Washington, Feb. 21.

A consumers group said to- day a 25-cent increase ins the $ federal minimu wage would not drive up prices. A manufacturers organisation said it could stir up an economic storm. The opposing views were #lven to a House labour mb. committee as it neared the end of hearings ста President Kennedy's request for the 25- cent minimum wage Increase and expansion of wage-hour coverage to 4.3 million

werkers.

more

headed

!

Motors were helped by briter zalco and Australia's cut in the sales tax on cars. Engintering shares moved into higher ground and steels

TRANSPORTATION

Japan again tops the world in

shipbuilding

London, Feb. 21.

Improved. Textiles, Japan held-its proud place in 1960 as the

electricals, stoves, papers, went abend but tobaccos furned dull

and banks cased.

DOLLAR STOCKS

Dollar stocks moved up under Wall Street's lead and Chrysler vaulted 4 points. U.S. Steel and

| Bethlehem notched gains

Shell lost 1 points.

but

Forelua bonds stayed quiet and Greeks were a weak spot,

1/2 punt lower. Gilt up to edged inclined easier in n subdued market for the bonds.

and Oils moved narrowly leaders ended fractions lower.

Rubbers and teas went ahead. UPI.

Closing prices

British Government Securities 2135, Consolidated-£4514. 315 Conversion=£80-1/10,

3. Savings 1945-205-13/10. 3. Savings 1900/10-70-3/16, 25. Savinga 1905/75–2719.

Overseas Bonds German (Dawest-0024 Japanese, Axented—£ 300!.

Banks & Insurances

Barclays Ord~ 14. Chartered Bank-03s Get Guardian Assurante-1333 14. Hongkong Bank-213. Lloyds Bank--£04, Lombard Banking On-Da,

01 British Petroleumis D. Burman - 04. Royal Dutch-£13.

Stecke & Engineering Flabrock & Wilcox Ord—Ji«. Tube Investments-74% ed. United Steel-01s 34. Vickers Ord-20 d.

Electric

Assoc. Elec. Industrie418_60. mec, & hium. Industries-434. English Electric Ord-3 Def. General Electric Orls Get,

Industria)

Boardman. Marden Ord-eds 4150. Borax (tohinga)-215 80. Forestal Land-12a4d. Gilman (Holdings) Ord-3_7790. Tumer & Newail Ord-063 740, Unilever Ord-163a 10%d.

De

Itue. Ord-618 3.

Chemicals Imperial Chemical Oid-004 115d. Moeranto Chemicals Ort-245 Usa.

Paper Bowater Paper Ord-85a. Wiggin's Teape Ord-67, Od.

Tobaccos

British-Amer, Tob, Ord-€55. Dd. Carreras "D" Ord-s 490. Imperial Tobacco Or is $d.

Motors British Motor Ord-17 d. Hawker Siddeley Ors-221 5d. Jaguar Care Ord-102 31.

Standard Triumph-100 43⁄41⁄2d.

xtiles

Calleo Printers Ord-25. Com's (J. & P.) Ord-00am Tigd, Courtaulda Ord-4% 30. Fine Spinnery Ord-Ila Bl. Lancashire Collon Ord-80s 1011⁄2et,

Ator

Grest Universal Ord-834, kyma (1) "A" Ord-20% 1754. Marks & Spencer "A" Ord-091 1015.

Woolworth P.W.) Ord-Sig 30.

Miscellaneo

Bowmaker Örd—20.

Hanakong & China Gas-LÜB.

Indo-China Def. Ord-241.

Land Securities Ord-c81 38. P. O. Bleom Nav. Det,--133. Stolf Theatres-ly öd.

Arines

De Beers_Def-1400 4163. Petaling Tin—0% 450.

io Tinto Bearer)=23. Roan AT LE

| Copper-41 41;4. Union

Welkom Gold Mining-IG

Rubbers & Test

124,

Anglo Indonesian Plant —45 4122, Ceylon Tea Ord-A Imperial Tea OTG-10$|| Kuala Lumpur-Kepong—45·3%d; Lambak Rubber-40 750,

Reuter.

New York cotton

New York, Feb. 21. Cotton futures activity cen- trod in evening up opera- tions by traders in nearby March contracts. The

The sub-committee, by Rep. James Roosevelt (D. Caill.) planned to begin private consideration of the blit as soon 131 ended its public hearings, Early sub-committee approval delivery notices issued at New was expected.--UPI.

WETO 04

March

world's greatest shipbuilding nation- the fifth year running it has captured the title.

Britain, QUCE the busiest shipbuilder,

with West Ger- second pluce many not far behind in third place.

A report of the year in the of the *pyarum bustling world, issued by Lloyd's Regis ter of Shipping, showed Japan launched 649 ships in 1900 totalling 1,731,668 gross tome.

That

of increase was 9,070 tons in 1950.

Jopen ans one of the relative- ly few nations to increase Its shipbuliding tonnage in 1960 and it also bullt the biggest ship of the year-the 72,280-lon oll tanker Universe Daphne. Japan's total output was 20.7 per cent of the world figure.

tailed stil t

WORLD OUTPUT

Britain launched 253

Bid to reopen airlines case

Washington, Feb. 21. Son, Wayne Morse said to- day ho had asked Prasid- ent Kennedy to direct the Civil Aeronautics Board to reopen the trans- Pacific airlines cose. Airline routes recommended by the CAB were disapproved by former President Eisenhower two days before he left offlee that they might on grounds impair U.S. foreign relations,

Morce, in a letter to Kennedy, asked that applications for the new overseas routes be TOCON" cidered and that interested

mer-parties be allowed to submit chant ships of 1,031,491 tons, new evidence. Morse said it 15.0 per cent of world output. was of special importance" to Down West German slipways Portland and Oregon that the went 254 ships totalling 1,000,- | case be reopened, 139 tons.

wontid constitute 4

great

"I concur fully in the Board's The total world output was recommendations to the effect 2,020 ships aggregating 8,330,444 that Northwest Airliner should tons, 380,200 less than 1959.

be authorised to make flights West Germany's share Was from Portland on the Great down 109,900 long on its 1959 Ctrele

zoule to the Orient." shipbuilding output.

Morse said. "But the failure Britain's dropped too by to approve Pan Amerieng Air- 41,104 tons.

this major line service from Oil tankers played a vital Pacific northwest terminal aolo in looping shipyards busy. They represented 44 per cent of impediment to the development the total output.

of orderly and adequate Pacific them-overseas nie service from Port- Japan built 135 or more than any other country, land." Britain bullt 48, Germany 35 The Oregon Democrat said he and Sweden 20,

was "antised" that Portland The trend was for shipyards could "present a very strong to be less busy last year. Only case for competitive service"

France, Poland, Spain by the two airlines. Japan, und Canada built........mere ships -Alaska's delegation to Cor thon they did in 1959. Lloyd's grEI8 also has asked that tho said figures for the Soviet Union case be reopened because and Communist China were not proposed route to be flown by available.

Pan American World Airways

ס

France launched 594,422 tons from the east coast to Tokyo of merchant shipping → more included a stop at Fairbunits,— than ever before. That includ- UPI.

ed the 00,000-ton liner France, sccond-biggest ship built 1980-AP.

Rise in Swissair's

In its

freight traffic

In

in

To discontinue

cargo runs

San Francisco, Feb. 21. The Luckenbach Steamship Company plans to dis- continue cargo runs be- twean Pacific and Atian- tic coast ports in the U.S. and uso its eight ships in foreign trade.j

first year of jot operations, Swissair show- ed a heavy increase freight traffic and almost halvad its transportation times, according to statis-President of the Company, said tics just released.

Edgar F. Luckenbach Jr..

the intercoastal service will end cn March 22 with the cast- bound exiling of the Marine Compared to the previous Snapper from San Francisco. year, the airline's fatal capacity

Luckenbach said the company In ton kilometres (passenger,

was suspending the Intercoasts! freight and mailį rose by 23 per service reluctantly but the doct- cent, while freight tkm utilised son was necessitated by the rose by 19 per cent,

failure

Federal of the US. In the 12 months ending 'Maritime Adminisimtion to December, 1080, Swissair offered grant mortgage insurance for a total capacity of 243,003,000 construction. of five container 1km, compared with 190,784,000 | ships-AP, during the same period the pro- vious year.

Freight traffic utilized totalled 28.169,000

tkm, ns against | 23,712,000 (km in 1050,

Larger quantities of freight were carried in all irdie areas

than in the year 1950.

Cargo motorship

is launched

cargo

Elder

thrac The first, of

for motorships European frame shows an in- create of 8%. A particularly Pompstor Lines, Ltd., has favourable result was achieved been launched by Scotts'

and in the Near East with a rise of Shipbuilding

En- 29% compared to the previous

gincoring Co. Ltd., York today, the first notice day.

year. In the Far East and on

Grecribek, Scotland. Orders had not expected that

the South Atlantic the goods carried rose by 21% respective- She is the Deldo with a dead- many tenders.

of 0.650 tons Nearby March opened off any 22% which can also be called weight capacity

and diesel engine of the Dix- New York, Feb. 21.

much as $1.53 a balo but later

On the Switzerland -- New ford type to be installed by the World No. 8 mugar fatures recovered a good

part of the York v.y. route the air freight builders. She will operate at a today closed one point higher switching from March to July 14%. In this important trame West

short covering traffe et Swissair went up by speed of about 13 knots on the with no les reported.

African Service and area the daily DC-3 flights have, amongst facilliles provided for Increased the freight loading her crew is a small permanent facilities to such an extent, swimming pool.-LPY, simultaneously cutting transpor-

Sugar market

Domestic No. 6

Crop' months was

Joss

21

sugar cloned in current

unchanged to

with sales UPI.

1 point lower fairly netive,AP. of 145 contraris,----

Shutdowns

Exchange rates

Burines was done in the local

unofficial exchaded ` market

morning at the following enżew: V.it, dollar (per $1)

Sterling note.[per £1) Australian notes per 1)

Indonesian Tipsah (per 100).. Bitical (per 100) Singapore (straila)

Unit trust

First Hongkong Pund: Buyer Price: $121. Belier Price: $1,50,

General

Detroit, Feb. 21. Motors Carp.

and Ford Motor Company announced

most satisfactory.

talion times, that there is no

longer any need for the flights

of

the DC-0A "Cargoliner" which is 100 slow under present day conditions,

In the summer of 1001 Swiss air will be offering in the traffic 5.718 come one-week plant closings 16.3 starting yesterday that will arch up to 10 DC-8 jet fights ar 12.02 affect almost 13,000 people. The substantially larger

week. This corresponds to

loading moves are aimed at bringing capacity than the present one. 131 production into line with stocks, passenger and cargo aga put

Both companies niso stated together.

11

10,500-ton vessel launched

Lithgown, Ltd., Port Glas-

gow, have founchad the 10,500-ton deadweight cargo motorship Dalla

for British and Burmoso

Steam Navigation Co.,

Ltd.

they planned to re-open, other By the opening of the new plants, today. after one-week mail and cargo handling bulld- The vessel, jo, engined by a shuttowns. Ford

some ing at Kloten Airport the band Turmeister and Wain tabe diesel 10,000 workers would be reling has been slapted to the re-engine loalaitect by John G. Kin- called at Caétories-Chulli quitements of the rapidly ex- dad and Co. Ltd., of Geenbock, Mall Speciai,

þanding jet air trane,

LPS.