1961-03-02 — Page 2

Page Z

THE

CHINA MAIL, THURSDAY, MARCH 2, 1961.

THE DEPTFORD DRIVE -IT'S SUCH A SUCCESS

(Mr Desmond Molins claims that his products are used more widely than all those of his rivalt put together. He makes cigarette-making machines. Why do most countries make their cigarettes the Molins way? Alexander Thomson went to the Moline Machine Co. to find out.)

By Alexander Thomson

London (By Airmail)

Mr Desmond Molins is a dark-haired and dynamic man of 50. I talked to him at the headquarters of the Molins Machine Co. at Deptford, in South East London.

It makes cigarette-making and packaging machines, and sells between 75

per cent and 80 per cent of them overseas.

Iron Curtain. other

declares.

on the

the

As few businesses are more As you go in at the firm's front door, the first thing you competitive than the cigarette sce is a big wall map of the business, most firmus in it are

nlways world.

luck out for 1 shown that 10,038 Molins equipment

will that

either machirae are now in use mineroare quality, or cut costs, every country this side of the

In satisfying that need, the "More than all Molins firm has Ufted its turn- maites combined." it over from £6,000,000 in 1058 to

last year, a record £8,000,000

Now

Ornambo ME Molins in planning further expansion. He almis to raise output by another 10 per cent in each of the next two years, Against that background I asked; "WUl you ever become public company and offer shares to investors?"

He told me: almost certain

what is the secret of your asked Desmond Fuccess?" Molin as he sat with some of his executives at a big round table.

'HARD WORK' 10s eyes it up. He smiled mischievously,

work, "Hard he said. "There are no holldays for executives here, excopt under pressure."

The leg-pull over, he turned to the more serious side of what you might calt "doing the Dept- ford drive,"

"We do a very of what our

He told me: careful analysis customers want, and also of what we think they should have.

"One day it is) thant we shall But there aro

ve to do so, no polive plans for that at the

moment.

HONGKONG

STOCK

EXCHANGE

Our Own Correspondent

Business done at the long- kong Stock Exthao this

WALL STREET STOCKS CLOSE IRREGULAR

New York, Mar. 1.

mcrning amounted to approxi- Stocks finished irregularly in most of the

mately $8,900,000. Noon queta- tions and the morning's trans- nctions:

Ghares Buyers Bellers

XD

1 Dank

Lobs 010

Sales

29 a 1870

20 1830

TO GLUTO

Bk. E. Asia

200

Lombard

43

Whart Co

200

200

300 G 202

Talkoo

741

+

1olita race in Wheelock

1000 e 7114

"When I have running, I watch the here," he explained. "It saves a lot of time.”

Being A sense of urgency. In a hurry. 1 often think too

are much Dock our firms many of too leisurely-London Express Service.

ICI projects with European Common Market

London, Mar. 1. Imperial Chemical Industries embark on a ten-year, is to

£100,000,000 manufacturing project with the European Com- mon Market.

al-

IK. & S.

Hotel

..

10 500 7416

1300 1330 2000 14

major groups today, as volume slumped sharply from yostarday's frantic pace.

Praft-taking was noticeable, however, among the building shares, rally and many of the Steels re- recent blg gainers. versed an easier trend carly in the session to finish mostly, on the upside.

International Business Much-

50001420 Ines lost a good part of its 2009 14.30 gain of the past two days bui

44000 5 14

3600 13.00 Texas

5200

0000 13.90

133

130 200

140

400 130

100 ko 150

200 £37

Instruments added

ሰ

13.00 handful of points and strength showed up La International Instru- Telephone, Beckman ments and National Cash Regis- ter.

Ch. Prov. 26.70 20.00 3000 27

500 @ 27 1200 @ 20.30 461% 40% BOGÓ A 4814

1000+ 45

309 4815 03 851 500 or 8572

2000 ** DO

HK Land

Youmatt (New)

Trøm.

34%

35

10%

J1

Announcing this

yesterday, Ch. Light. ICI said negotiations were ready well under way for a 300- pero headquarters site near Rot-

He is not the kind of bass who sits at his desk all day, He spends a lot of time on the chop floor, particularly in the research and developinent side of his busy Deptford plant.

When toets are going on, beterdain. is always there, often with his cont off and sleeves rolled up.

INFORMALLY He

his business in formally, too, and with as few board meetings as possible. directors, "My executive

and anywhere," he I get together

Even in the cor: explained. ridor if necessary. It gives

of however, senze urgency which you believes he is on another win must have, We are always in ner with his Intest Mark 8ja hurry." cigarette-making machine.

you

"And we keep in close touch with them, which

means travelling and visiting like mad nt all levels.

"Cigaretle

machines,

wear out, know, never really To slay in business, we have to keep on producing, something better all the time. It is a big battic, with our competitors Krying to do it. Ioo."

Desmond

Molins,

FASTEST

rans

it

Desmond In his own way, Molins proves that it is not al- to have a big ways necessary

to succeed in

market

He claims it is the smallest, | home lightest and fastest in the world. Exporting. It can turn out up to 1,500 non- Alter and 1,300 liter "amoke:" 13

He sells nearly four times as much overseas as he does at

Once the negotiations are con- cluded, building will start - probably early next year on a complex of chemical plants for the maitufacture of petroleum, plasties and other products. It Electric will provide employment for nearly 3,000 people, and launch Rotterdam aclf-styled "Europost" into the forefront of Europe's ports.

The £800,000,000 company s also considering various other projects to increase British ex- ports to the continent.—AFP.

CHARTERED BANK

The Chartered Bank an- nounce that at the annual minutit cuts down by half the home. The USA is his biggest meeting in London on March 29 where he hathe directors will recommend a export marktet, weight variation of each

of his largest cigarette, whlell

means sub-streaked ahead

final dividend of 7% actual stantial savings for manufac- competitor.

As we shook hands, I noticed less income tax,

turers,

a television set in the corner The machine costs £10,000 a

of his room. 1 had never scen time. But it is said to be cap- able of paying for itself in less une in than two years.

before.

J

chairman's oflee

Hong Kong 1960

An old friend-the Colony's Annual Report-makes its bow once again in a new, streamlined, format. On sale today, "Hong Kong 1980" is the indispensable guide to all who seek the most complete and up-to-date picture of what is happening in the Colony.

Bigger and better-than ever bofore, the how edition has more than 400 pages of text, 61 pages of photographs (37 of which are in colour), together with numerous naps, graphs and diagrams. The dust jacket is a striking full-colour aerial photograph of the heart of Central District.

The standard work of reference on the Colony, "Hong Kong 1960," makos an excellent gift for friends overseas.' From the Government Publications Bureau, General Post Office, and all leading booksellers.

Published Today $10.00

Agreed merchant

rates

Swiss Franes, Maximum Sell- ing, 74-15/16.

SA. Rand, Maximum Selling,

12.36.

Exchange rates

X.D.......

35 33

Telephone •

46)

40

(New)

431 4324

GI Cement

XD.

...... 6011⁄2 30

Dalty Form 30%

37

Watson...

Allied Inv. 10.00

$1 000

400

300

0510

6515

300 of 137 200 130 200 67 131 500 131 300 a 130

109 do 130 150 * 131 200 130 2000

35

31

4500 51

209 31%

200 LE 3072

In or 3114 400 or 31° 400 204

1300 231 1500 48 35% 4200 6 35% 800 464 1700 A 40% 300 461% 500 for 40 5000 40 30044

150 44

125 44

100 62 44 300 ut 432 500 43

400 7 00 1000915 1000 or 70

1000 TO

500 TO 100 or 70% 1000 or $73

5756 of 371

500 6 371 270037 200 e 38 2003412 300 40

10.00 5000 10

14000 1990 1000 1000 1000100

International Harvester, off a couple of points, held down the Dow Jones Industrial average, with heaviness also showing up in Polaroid, McGraw-HD, MGM.. The Savings and Loan Stocks, Bell and Howell, Ameri- сал Home Products, Borden, Brunswick and Mergenthaler Linotype.

Brokers attributed the some- what easier trend to yesterday's Hyrations which produced little upward progress and led to an uneasy feeling that perhaps prices were extending them

selves too far.- UPI.

Closing prices

Allied Chemicals

All Chalmera

American Metal

American Smelting American Tel & Tel American Tob, Anaconda Copper Armour.****** Baltimore & Ohio Bethlehem Steel Canadian Pacifle . Chrysler Motors Consolidated Edison Cuban Amer, Sugar Dupont de Nemours Eastman Kodak General Critic General Foods General Motors Goodyear Tyre.. Int'l Business Machines Int'l Harvester .

Internacional Nickel

Int'l Tel & Tel Kennecott Copper Lockheed Aircmrt Loows Incorp.... Lone Star Cement Co. Montgomery Ward National Cash Reg. "A" National Lead .... New York Central

Otis Elevators ·*...) Pepiño Gas & Elan Pan American Airways Paramount Platures

Radio Corporation Republic Steel Reynolds Tobacco Sinclair Oil, Socony Mobil Oil Standard Brands Standard Oil of Cal. Standard Ol of Ind. Standard Out of NJ.

$ 679-

London

The

closes mixed

י

London, Mar. 1, stock exchange was quiet and irregular today and to great volume of business was done. Industrials were inclined to retreat under modest sell pressure and minus signs pre- dominated.

Ocean-going liner is fitted into 1.500 crates

R.M.S. Victoria, a ship of unusual con- struction with a load displacement of 1,500 tons is going through a second

'construction" in East Africa.

A twith screw diesel driven ¦ main engines, each weighing 17 These components are passenger cargo ship, she was tome.

at being-re-assembled: built originally in 1958-60 at now Yarrow and Co. Ltd., Glasgow, Kusuru, where it shipwright, a under n contract placed by the caulker und an engineer, U.K.'s Crown Agents for Over-suppiled by the British ship- sea Governments and Admins-builders, Yarrow, are assisting trations, and designed to carry in the creeflon by local labour. passengers and cargo on Lake It is estimated that the ship Victoria, the largest of the well be completed ready for African lakes covering 27,000 service approximately by the

milcs,

bordered by late spring or carly surhmer. Uganda, Tanganyika and

powered by two The ship is Kenya; the lake lies in a plateau burin of the Great Rift 10-cylinder two-stroke Valley at an altitude of 3,750 ft. engines, having a joint capacity With a length atove sea level and an ap-of 1000 b.h.p.

of 240 proximate distance of 000 miles between perpendiculars

the vessel is arranged from the sea.

The order

Gold mining issues were firm at the start but reacted later were below and some prices the day's best at the Ankh.

British

Government

bands, weak recently because of the declining strength of the pound square sterling, were steadler bat closed in most cases under their dessen highs.-AP.

Closing prices

British Government Securities. 21%. Consolidated–£ 42-3/16 x1. 315. Convenion=£68-11/16. 3. Savings 1935/05-01-1/32. 3 Saving

Savin's 720

Overeni Bonds

5. German (Dawes)-≈ 15516. B. Japanese, Assented-100%.

Danks & Insurances

Barclays Ord--02 0. Chartered Bank-01#. Guardian Assurance—–133s id. Hongkong Bank-2017- Lloyds Bank-G45 Gd.

Lombard Banking Ord-190 €3.

British Petroleum-1s 3d, Burmah O-429 d. Royal Dutch-£13.

Babcock & WITCOX Tube Investments—78; 94.

· United Sleek-33 ed. Vickers Ord-s 10d.

Plectric

Steels&E d.

Aroc. Elec. Industries-434. Elec, & M., Industries-4, English Electric Ord-30% 3.

Industrialz

Assoc. Brit, Pictures 40: 11⁄2d. AOC. Portland Cement-73% 10. Boardman, Marden Ord-38. Borax (Hojainpr)-20s (4150. Dunlop Rubber Ord.—219-4150. Forestal Land-13.

Gilman (Holdings) Ort-4s 3d. Hudson's Bay--1/16.

-09

100

445

Tamer 2 Newall Ord-65s 4154.

45

Unilover. Drḍ-130s 15th

0572

Wentiand Aircraft-17

150.

49%%

43%

De La Fue Ordeče 94.

Chemicals

BOUD 0 10.90 2000 10.30 15000 10.00 Swift & Co.

14

Studebaker-Packard Corp.

87

97

1765 to 13

Union Pacific Railway United Aircraft

124

Zowater Paper Ord-$3 34. Wiggin's Teape Ortb650,

110

British-Amer. Tob. Ord-678. Carreras "B" Ord 4: $150.

8.10 $20 0000 8.15 12.00 13.10

BOO 6 13.10 B009 ( 13 2000 68 70 1000 @ 7.35 1000 1.35 4500 m 7.30 1000 711

Texan Co. Union Carbide

Us. Gypsura US. Rubber US. Smelting VS. Steel

Textile

Num ang

A. Rubber.

7.15 7.30

market this

3 R. Trust XD

B.10

U.S. dollar per $1)

01.7135

Stering Notes (per £)

Australian holes (per

il

12.7

Indonesian Rupiah, (per 100) Slam ticals (per 100)

Mon

2032

Singapore Straits)

Business was done in the local unonical moring at the following rates:

exchange

Unit

Underwriters 181 Humphrey

Realty

trust

Star Ferry

XD

First Hongkong Fund; Buyer Price: $1.25.

Seller Price: $1.33.

Lone Craw

1000 9.20

2000 9.15 1000+ 0.10

521 GB 2000 8.10 30300 0.15 3000 8.10 30 14 63

112 27.70 3000 ft 2715

10000 67 2.15

10002.175 29000 € 2.1N

309.68 US 13 1034 1000 g 61

0414

220

IX Ga... 19.40 1914 1500 à 19:00

2500 € 19.0O

200 1070|

1000

10.80

2000

1014

1:09

2042

DOO 4,19.00

2000

19

400 G 19.00

31.000

Int'l Invest. 43.90 14.10 2000 GF 14,10

2000 (14 1000 66 14.10

Climan XD 3.45

K Hope 24.20 Union Whoot Kwong Song

Hong....

Wing On...

Entertainmenta

Blinkers Emporiun

$500

1000 5 14

2000 ( 14.10 310 6000 $300

5000 G 3A)

600 21.20

2000 to 3.63

33

COMMODITY PRICES

COTTON

NEW ORLEANB

No. 2 Mbr.

Closing prices all in conts No. Mar.

por lb.:

Spot

May

ن الحدي

O

Dee

Mar

May

LIVERPOOL

0191-0212

01-02

Spot (C! NY ex-duly)

Total Sale: 27 contracts. Open interest: 1,110 contracts. UPI.

METALS

May

Nov.

20.40

July

Jan.

20.40

SINGAPORE

Closing prices all in Straits

cents

per 16.

1.0.b. Malayan

ports:

No. 1 Mar,

AFT

8296-0376 021-03

No. 4 Mar.

77-70

Spor rubber unbaled

Blanket crepe

05-6314

12.07

03.03

No. 1 prie crepe

8716-0815

LONDON

per b.:

No. 1 Time spot.

2494-25

Settlement house serm:

Apr/June

3422-241

July/Sept.

2434-24

Nov/Dec.

Tin spot 241-243-morith

Jan./Feb.

Mar/Apr.

Mar

May

Closing prices all in pence

LONDON

Afternoon Hesalon

Closing prices, all in sterling per long ton.

Closing prices all in penco

American Contract

General markets, c.lf. basis, ports:

Estela crepe

18-24% Copper spot 24%-263-month

Lend Spot 24-249-montli 244-2419 Zine Spot

3-month

per 1b.:

Mar

Max

July

Oct.

Dee. MAT.

Mixed Contrast

Mar,

May

Julr

Dec.

Mar

REEDER BEBERA

RUBBER

NEW YORK

thin Mar.

thick Mar

201

2611

AMSTERDAM

Closing prices all in guilders

per kliogram, c.ff. Mor:

Unchanged.-UPI.

SUGAR

NEW YORK-

Closing prices, all m cents ammerdam per 1b:

buyers sellers

001

802

80255

603

22543 22531

220

Н

따

Imperial Chemical Ord-70% 11⁄2d. Monsanto Chemicala Ord-Zia 90.

Paper

Tobrecos

Imperial Tobacco Ord-us.

Motors

British Motor Ord-101 1011⁄2d. Hawker Siddeley Ord-20 Migd. Jaguar Cam

3d. Rolls-Rov

Standard Triumph-10a ód.

Textiles

Calleo Printers! Ord- 145, 1015d. Coats (J. & P.) Ord-44 dil. Courtaulda Ord-42s' 14d. Fine Spinner Ord-316 Lancashire Colton Ord-709 Oct.

Blores

Great Universal Ori-831- Marks & Spencer "A" Ord-003. Tate & Lyle Ord-600 94. Woolworth (F.W)) On-Sis: 111⁄2d.

Miscellaneous

Bowmaker Ord-245 7150. Hongkong & China Gaš—150. Indo-China Det. Ord-zis Dd. Land Securities Ord-202.

1. O. Steam Nav. Def.45s

ત

Stoll Theatres—de 34.

Mines

De Beers Def-1450 73yd. Petaling Th—10%,

Rio Tinto (Bearer)1-29/33.

Welkom Gold Mining-15- Western Holdings-1319 30.

Rubbers" & Teas

Anglo Indonesian Plant,4% 30. Ceylon Tea Ord-2000. Imperial Ten Ord-46 3. Kunki Lumpur-Kepong—is 0%d. Lambak Rubber-200,

--Neuter,

by

巋

Vickers- Dower

for a service speed of 134 for the ship was and is fitted with two

and

spade based on the fact that by 1957 type scmi-balanced rudders it was found that the two operated sicamere

operation in regular

Armstrongs hand and were proving Inadequate. The electric hydraulic steering new vessel was specified to be installation, capable of moving built in Glasgow, dismantled, the two rudders through a tetul crated and shipped to Mombasa hardever angle of 10 degrees

overland to and brought

In a time not exceeding Kurumu to be re-assembled on seconds.-LPS.

the silpway of the East African Railways and Harbours Board. The vessel with successfully

Launched on September 5 last

30

year. Because of the expense New jet age' control

and difficulty of classification on for removed Lake Victoria, so

the shipping. from normal Victoria will not be classed, but her construction on

Clydeside to the point of dismantling was carried out under Lloyd's Re- gister Survey, to Class AL.

centre is opened

Honolulu, Mar. 1. A new $4.5 million cam- munications and air con- tral centre to handle jet age flying in the Pacific was opened today by the Described as a small edition Federal Aviation Agency. of the modem ocean-going The centre was built on the Liner, the Victoria presents floor of Diamond Head crater, volcano just off

The

BIGGEST JOB

extinct biggest re-assembly job on over undertaken by a Brush Waikiki beach, shipyard and will carry 500 passengers, 200 tons of general

FAA officiala

cargo, and refrigerated cargo up crete structure

said the con- should with-

to a cubic capacity of about stand the blast of a 100-megaton 4,400 X There

Arc

sleeping nuclear bomb bit en Pearl Har- berths for 248, as well as ac-bour, 30 miles away. The build- commodation for 10 ears anding has no windows and is air-

40 bicycles, a popular form of conditioned. East African transport.

con-

When planning and structing the vessel the Scottish shipbuliders had to

DUAL ROLE

has a dual role. The centro bear in mind the facilties available at Its air route traffic control will the East African yard where Honolulu. Its international flight speed jet traffic in and out of was to be assembled and the

general hazards of transit. The service station will expedito in- ternational air traffic control and ship was, therefore, constructed

be- weather communications in a bolt-assembled condition

Asia tween

and the United and special care was takt to

Staten. see that all parts fitted casily with each other, rather like a About 180 employees control jig-saw puzzle, and every item air traffic in

an area of about was carefully numbered and 5.4 million square miles. The marked for

Identification, US. mainland, by comparison, starboard side Items being covers about 3.2 million, painted green port side ired.

The control room is in im- In Its dismantled form the mediate touch with Anchorage, ship amounted to some 1,500 San Francisco, Cunton Island, erates and bundles, of which Fiji, Samoa, Australla, Wake

total weight

Island, Guam, the Philippines, approximately 1,200 tons. The Tolgyn, Midway and Kwajalein. heaviest items worO

the two AP.

the

was

FOREIGN EXCITANGE

LONDON...

Closing rates;

2.79 11/18-249 15/16 2.387-70. 10.013-10 ES

176044-11.00 -0020-80,80

20.0100 13.70%

For the first time In, tho khistory of civil aviation, Bovist authoritien læÝd granted a foreign mititne tile use of Moscow an à transit point in ila network of intérustISAL DIE routes. Mérto, Rumia only graniéd: foreign ́air carriers the risks to themiinals, at the Bovios ospital. General Eaginoy, Chier of Civil Ale Fleet of the Soviet Union abond from left), and Mr B. R. Patel, Vioo Chairman and General Manager or Air ZAMIA, TIRIPU from left), are seen signing the agreement on operating plans of the two airlines. The

• Egresinėms | porthits the Soviet stálo owned airline, Aerofies to extend their present Mon om New Delhi mir sptylòbe:16 include 'Bungeon and Diskarta, Air Tally on thủ other «RABÓI BE NOW:permitted-te dy to other Soviet villes beyond itsssww.

New York

Montreal

Contract No. 8 (world)

MAY.

Rex rubber futures closing

MAY

2.00

July

firüsla Copenhagen Frankfurt |Lisbon

Oslo Paris

prices, all in cents per lb.

Маг.

20.20

Milan

twy

July

22$0.00 28.00

Open, interest; 1,587, montenetu,

Contract No, 7; (demnatio)

Zsirjen

030