1961-03-21 — Page 2

THE CHINA MAIL, `TUESDAY, MARCH 21, 1961.

Wall Street stocks gain on continued heavy turnover

New York, Mar, 20,

Stocks maintained the bulk of their sharp early gains today, finishing generally higher on continued heavy turnover.

Proit-takinя in the middle of the session turned aleels, cars and chemicals Irregular but gains of around two-points In Procter and Gamble, and Texaco along with a 2% point rise in Johns-Manville helped Diw- suvinin the rise in the Jones industrial average.

Republie Steri Reynuh Melal feynolds Tobacco Sinclair Oil Socony Mobil, Of

turd Braid Standard Oil of Cali alandard on of Ind. Standard On of NJ,

Texas Co

431%

ילא

COMMODITY PRICES

RUBBER

NEW YORK

Montreal

Amsterdam Brussola Copenhageni

Frankfurt Lisbon

Oslo

Paris

Rex rubber- futures elastig Mockholm

SATI

Studebaker-Packard Corp. SWH & Co.

prices, all in cents per b

0 40%

Valon Carbide

#3114

Mar: 30: May: 31.10: July: 31.10 Sugt: 30 Nov: 30.03: Jan: Mar: 35.45-UPI.

Zurich

30.555

Union Pacific Railway

3114

United Alteraft

1112

theg

1.S. Ruby

307%

Вла

Bails came to life late in the session as Kansas City South- Kained 11⁄2 and Nickel

eril

Plate, Southern Railway

US. Gypa

U.S. Steel

Canadian Pacifle gained Jarge US Smelting trzetions. General Improve- ment in utilities, sent the aver age to a new 31-year high

Druns were mixed while aircrafts, buikling shares ond oils showed sume improve-

Mathieson, ments. Olin

out

with ♫ number of new pro- duets, gained over three

in

the chemicals where Da Pont lost about two.

Gains of more than two ap peared in such electronic Issues

as IIM, Motorola and

htt

AMP

Minneapolis (Loneywell

slid two after registering issues

of debentures and convertible

preferred stock.-UPI.

Closing prices

Alden Toe. Acy

All themnica's

At Chaletris

American Airline

Warner Bros. Weringapuse Elretrie Woolworth K. W

Rubber

market

Rex

$ 7:1

review

New York, Mar. 20. rubber futures today closed 60 lower to 65 points higher with sales of 66 contracts.

The standard contract closed

up 35 to 25 points down with sales of two contracts. Active montira

American Metal

American Smelting

American Tol & Tel

312

American Tob

24

Anneonda Copper

Aravour

470

strengta

Allas Come Mhing

Baltimore & Ohio

Betlehem Sterl

Cana, Brewers

Canadian Parille R.

Chryster Motor

Consolidated Edison

Cuban Miner, Gitar

Dupont de Nemours Eastinan Koxiak

Ford Motor ...... General Electric

General Foods

in line

showed with the six foreign markets and the higher

prices on meagre shipment of j ufferings from the Far East.

40

2424

44%

7020

173

211

Brokers said that

while

the

recent advance has brought some rubber out of the govern 4ment stockplic, the low from 787% that direction "still is only a 672 trickle."

General Motors

4824

Goodyear Tyre

38

Gulf Oil

36

let Hastaess Machines

726

Int'l Harvester

401%

International Nickel

581

12914

Int'l Tel & Tel

Kennecott Copper

Lion Ind.

Lackleed Aircraft

Loews Incorp.

Lone Star Cement Co. Minnesota Mining Mimion Development Montgomery Ward

National Cash Reg. A

National Lami

New York Central

Otis Elevators

Pacific Gas & Elec.

Pan American Airways

Paramasini Pirkures Pittsburgh Plate Glacan

Radio Corporation

Reported ripment offerings out of Indonesia includes one sheets nt 30 cents two sheels at 294 cents; three ambers al

25 cents and three-ex brown at 2214 cents pound, Locally, current month No. 1 RsS Was quoted 31 cents and spot 31%

muricet

the

25 cents a pound, bulk norrinal,,

In Singapore, ruled dull throughout after some Luitial steadiness.

The afternoon was

slow to

11 open with buying small, but some pressure

FOREIGN EXCHANGE

Canada

England.

NEW YORK

Closing rates;

1.01-3/33

2,7000

2.7830

2.7050

2.7600

1.4010

.1765

attletal 30-days 90-days

Australia

New Zealand South Africa Hongkong.. Otters unchanged,

LONDON Closing rules: New York

2.7011-2,2016 10.06-10.0314 10041-139.4244 19.3243-19.321 11.11.11.12 7004-30.01

20.00-20.01

13.7185-19,71

14.499,14.4772 1743-17442 12.10-1

HONGKONG China soybean

STOCK EXCHANGE

Our Own Correspondent,

Business done at the Hong-

Exchange kung Stockt

this morning amounted to approxi- mately $8 million. Noon quota- tions transactions.

Bharts Dayers Sellers Brin

450 HK Rank..

and

the

morning's

23 430 250 30

300 60 440

GO

400 444

100 440

exports may

upset market

Washington, Mar. 20. Shipments from China threaten to disrupt the orderly price and market for soybodns established by U.S. formons, repre- Marwin Coad **ăntativo

jald today.

Mr Coad rald China is ex- porting "mlilona” of bushels of soybeans despite its report- ed crop failure. He asked the Department of State lo it- vestigate the matter,

member

of the

House Agriculture Committee,

100

440

485

453

-UPI.

JTC Bank

(Lon. Iteg.)

23 100

58 204

Mr Chad,

Wharf

100

410

100 7 408

200 400

said tho

100 400

7015

400 69 791

600 71-30

export until

2009 & 2120

28 11000 10.40

COTTON

NEW YORK

Closing prices all in cents per 1b.:

Spot:

93.20; May: 33.27: July: 33,77; Oct: 34.37; Dec: 34.75; Mar: 35.39: May: 03.01; July: 31.4).

LIVERPOOL Closing prices all In pence per lb.:

American Contrast

Mor: 24.40; May: 24.90; Juty: 20.20; Gel: 24.45; Dec; 24.76; Mar: 24.00.*

Mixed Contracto Mar: 24.75; May: 25.30; July: 25.55; Oct: 21.90; Dee: 29.10; Mar: 2530,-

2.78-10/18-2.70-15/18 | UPI.

LONDON

London, Mar, 20. The following are today's quotations on the London Stock Market.

Closing prices

British Government Becurities 219%. Consolidated-£42-3/16. 3 Conversion-£60. 35. Bavings 1935/85——£60-31/34.

Savings 100/70-201

7%, Savings 195/75—–271K.

B:

Oversen Bonds German (Dawes) –£9915.

Hani & Insurances

Entelay Ord-72 101⁄2 Chartered Bank-60a ód, Guardian Assurance-1399 34. Hongkong Bank-£26* Lloyds Bank- 10d. Lombard Banking Ord--22 d.

Drills Petrolein-309 3d. Burmah Oil-478 3d.

Siral Tralsport Ord–130s th xã. Royal Dutch-215%

Steels & Engineering Babcock & W! xx Ord—ka K. Tube Investments-Bis od. United Steel- 34.

Vickers Orde

1%d.

Assoc. Eleg, Industries-408_3d_xd.

Elve. of sellers,

Mus. Industries-45 d. English Electrle Ord-40s, up to the

General Electric Ord-308, Julips Lamp Works-£12-13/16. Industrials Actoe, Pariland Cement-Bis 415d. Boardiman, Marden Drd-59 1330.

with

70%

20%

5812

The steady.UFI,

prices were edged day's high, ut 80 cents. market

sloses

quietly

Selling Price: 8th August, 1960 - $1

FIRST HONG KONG FUND

Selling Price: 16th March, 1961 - $1.45

SECOND HONGKONG FUND

IMPORTANT

Applications

The ofter opens on 20th March, 1981, and closes not later than 28th March, 1901. must be received at the offices of the Managers, Hongkong Unit Funds Limited, P.D. Bex x Hong Kong, or 7th floor, Alexandra House or at The Hong Kong & Shanghai Banking Corporation, The Chartered Bank or Mereantlis Bank Ltd., during that period.

OFFER OF 1,000,000 UNITS AT $1.00 PER UNIT

PAYABLE IN FULL ON APPLICATION

All shares currently included in the Trust Fund are shares quoted on the Hong Kong Stock Exchange

--- FORM OF APPLICATION ——

APPLICATIONS MUST BE FOR A MINIMUM OF 500 UNITS AND THEREAFTEN,

IN MULTIPLES OF 100 UNITS

To: HONG KONG UNIT FUNDS LIMITED

No.

I/We it in accordance with the conditions contained in the offer and tubject to the terms

apply for.....................................units in the Second Hong Kong Fund at the advertised price

of $1.00 per

of the Trust Deed dated 14th March, 1901.

We enclose cheque/money order/cash for ..... number of units applied for. We understand

if no Waits are allotted.

BADUH WAHHARO

........being, payment in full for the

in the money will be returned to mesus in full

I/We declare that I/We am/are over 21 years of age.

SURNAME(5)

(In English)

{Pleie state

AIT., AITE, or Miss

OTHER NAME(S) IN FULL

ADDRESS

SIGNATURE(S).

Telephone No................

Dato

(In the case of joint applicationsæ all perabisa muiet sigh. Corporations should complete under the hand of an authorised officer whose designation should be stated)

SPECIMEN SIGNATURE(S) ...--------

NOTE: Free information bookleta má obtainable from leading banks and inernbers of the Hong Kong Stock Exchange or from Hong Kong Unit Funds Limited, 7th floor, Alexandra Houte, or 1,Q, Fox 000. (Tel. 28100).

STOCK MARKET

Berax oldinga)–103 104et. Dunlop Rubber Ort 23 d.

Forenal Land-138

Güman (Holdings! Ord-da 4990. Kudson's Bay 1915.

Rediffusion Ord—438 10150. Turner & Newall Ord-12, 150. Unilever Ord-101e 4%d,

Westland Aircraft-175 94.

Wiggin'a Teape Ord-595 434.

Chemicals

Imperial Chemical Ord-71# 41⁄4d, Monsanto Chemicals Ord-24a Dd.

Paber

Bowater Paper Ord-15s, 64. De La Rue On-0129 3d.

Tobaccos British-Amer. Tob. Ord-704. Carreran "B" Ord--44 ?!sd. Imperial Tolneco Ord-109 01.

Motors

Brilish Motor Ord-18s 10164. Hawker Siddeley Ord-19s Ínsa. Jaguar Care Ord-0338 $4. Holt-Hoyce Ord-4te 30 Standard-Triumph-lix éd.

Taikou Linck 7715

KK Gd. ... 20. 21,10 1000 21.40

ཚ

900 44 21

6472 4 15

1000 @ 14.99

Wheelock .. 14.00

Dock

134

100 @ 134

823134

Provident

XD

..... 30.73

30

150 20.10

1500

20

HK Hotel

XD

40%

500

47

1500

4054

600 4024

NK Land

75

76

100 or 77

Ex.Al

:

303 705

2006 TO 200 20 700 6 755%

Youmail

142

300

New

Tran 3h .

133

130

200 à 138

200 133

33 3315

100

2000 @ J31

C. Light...

35 351 6800 6 35

2700 4 0344

1000 33 2:00 35

100 & 35% 1000 4 3514 100 35 1000351

12500 151

500 & 3 500 35% 4000 5514

300 371%

Electric ....

17 1714

2000 37

500

2000 371

100

500

3714

500 375

500 3744

3500 p 3732 2000 @ 37

6004535

Telephone

XD

45 45%+

400

1500

4012

200

4535

1000

100 45

Cement

0712

200101

1000 cr on

500 68 600

5000715

1

Dairy

Textiles Calleo Printers' Ord-In 71⁄4d xã. Costs (J. & P.) Ord-43 94. Courtaulds Ord-411 1168. Fine Spinners (Ord-29s Gd. Lanenshire Colton Ord-01a 7!jd.

Stores

Great Univerzal Ord-545 0. Marks&Spencer "A" Ord101s

Od.

Mom Empires Ord-13 30. Tate & Lyle Ord-81 3d.

United Drapery Ord-005 31. Woolworth (FW.) Drd-378 d.

Miscelaneous

.

Bowmakur Ord-241 101d. Conodian Parile Ord—$1. Hongkong & Chinn Jag159.

Indo-China Def. Ord-43 495d. Land Securities Ord-20s 3. P. & O. Steam Nav. Dat is J. Stoll Theatrezselbe 38.

Miner

De Beers Def-140h sex.

Petaling, Tin-12s 416d

Rio Tinto (Bearer)-2-3/10. Roan Antelope Copper-81 34. Union Corporation-525 iki. Welkom Gold Minings 30. Western Holstings-131 30.

Rubber & Teas

Angio Indonesian Plant-4 1d. Ceylon Tea Ord-30 34. Imperial Tea On!--16. Kuala Lumper-Kepong-41. Lambale Rubber-bin 144d.

subdivided bean

into shares of 23 Hongkong dullors each.

Reuter.

Have

Car production

Frankfurt, Mar. 20. West Germany produced 177,- 600 motor vehicles in February compared with 197,507 vehicles In January, the Association et West German Motor Minu- Lecturers stated today. This year's February production was six percent higher than in February, 1900.

Motor car production In February totalled 143,500 units against 158,002 units in January a reduction of 0.2 per cent.

Motor

exports

in

vchleic February amounted to 80,380 units, which was 11 per cent Jess than in January but five per cent more than' la Febru ary last year.

the

The reduction in production In February was due to shorter month, the statement said. China Mall Special.

Agreed merchant

rates

Swiss francs: Maximum tell- ing. 7446.

Belgian franes Maximum cell- itin, 808.

West German deutschematic:

Maxiiiuin selling, 08.

Exchange rates

Bullies was donă, in the focal

uhoficial exchange iridiket

invening at the following retent

U dollar (per 1)

0.207

Bierling Poles (DE CILS

10.02

C.M.

Australian notes, iper R

Indonesian Rupiah, par 106) plain sela per 150 Singapola iMLERIES)

Department

of

ANSPORTATION

Foreign airlines challenge bid to limit U.S. flights

Agriculture reported that the Foreign

Chinese withheld soybeans Train

when more

metric tons

Inst January,

than 100,000

cleared the Stez

Caral, headed north.

WILL CONTINUE Foreign market experts i

Department Agriculture

the warn that the acceleraison rate is expected to continue for two months, Mr Coad Bold

The Foreign

Agriculture Service said in a separate re-

part today that U.S. exports of soybeans were at a record high in the October-December period of 1960.

Much of the increase was attributed to die "dearth of available Chinese soybeans," the report said.

During the period, it was estimated that less than 1,000,- 000 bushels of Chinese soybers maved through the Suez Canal in contrast to the record of 8,000,000 bushels In the corres- ponding 1959 period.-UPI.

U.S. money

market

cb-

New York, Mar. 20. Intermediate and long-dated United States Government ligations and investment grade corporate cased in slow dealings during the week to March 10.

the Most activity centred In

ad- intermediates, which were

versely affected by the Trea sury's announcement of an offer- Ing in 1982 and 1963.

Washington, Mar. 20.

airlines have challenged the authority of the U.S. Civil Aeronautics Board to limit the capadity of the num ber of the flights they operate to and from the United States.

stand

En

of

They expressed their

Belgium's Sabena Airlines In exceptions to a report by said the examiner made examiner Edward T. Stodola "Improper and unwarranted on a pre-hearing conference inference, in the absence

1 in the Board's clear and specifle langunge, that held March investigation of the terms of the Board intends to set up

machinery for Imposition of foreign airline permits.

capacity and frequency limita- tions as the result of thin pro- ceeding"

Record glass exports

A record of

moro thon £122 million worth

of

glass was exported during 1960 by o group of British gloss manufac turers. This was achieved despite intense com- dalfar petition, and the

for countries accounted more

than one-third of the total.

The gain over the previous year was slight but the upward trend was maintained, and

the

that

total of the group's export trade Is now more than double of eight years ago, and times the level of 16 years ago.

Britain's Cunard Eagle Air- ways took issue with the examiner's statement that there "scems to be no doubt" that the Board may Imposu capacity and frequency limitations.

"There is substantial legal doubl as to the Board's power to impose capacity and frequency limitations

on foreign permit holders," Eagle said.

"This is a most serious and basle issue which should bo decided by the examiner only after the parties have had full opportunity tu brief and

argue.

"The authorisation to act i inconsistent with Internationsi tho agreements and is beyond Board's power."

nine Swissair and Australia's Qan- tas said the legal authority of the

Last year was the first year the Board may be one of in which float glass-the glass principal issues in the proceed- made by a revolutionary new ing.

process was introduced to ever Other exceptions were led seas customers and approxi- by El Al Israel, Guest Aerovias mately 3,000,000 square ft. was Mexico, Iberia of Spain, Linca Nacional De Chile, shipped to Australia, New Zen-Acres lind, Canada, the U.S.A., Hol-Scandinavian Airlines System,

Varig of Brazil, land, Scandinavia, Brazu,

and KLM many other markets.

Royal Dutch Airlines.

In ordering the investigation, the Board took note of com-

und

Glass despatched overseas by

The lack of interest was at tributed to a tendency to await next week's new issues, includ- ing a $70 million utility offering. the group in 1900 totalled some Farm 41 $114 1090 @ 4144

Convertibles, generally, fol- lowed the trenul of the stock market with Lockheed 3 per cents leading the rise.

Among foreign Issues, tralians

3004134 280044115

20043

GOO

30

125 (48

1000 R 130 2500 B 5000 0.10

13.00

Watsont Allied invest, 12.30 12.00 Textilo

3.10 8.20

Nanyang A. Hubber. Rubber T. Realty....

Star Ferry Gilman

Kelantan

7.15 7.30

0.30 8.45

2.03 2.875 40000 # 2.80

10000 2.078

10000 ir 2.63 00000.00

20000 2.070 10000 2.70

5000 A 2.075 34000 220

000#2725

50000 4 21⁄4 25000 2.725 20000 6 2,70 50000 2.673 50000 à 2.070 210 100 210

431 4.05

28

Rope...

Int'l

Fuvest

H.K. & F.E.

18.10

Inv... Union W'boat

XAD

Humphreys

Cold Marg

24.00

0000 $1 1000 20

MAX 90 40 5000 @ 2.00

that were

traffic to which, under terms of

bilateral

agree the covering ments, they were not entitled. -AP.

150.000 tons, and was carried in plaints of U.S. airlines

some foreign operators 2,474 ships. Each day of the

large ammants of working week ten ships sailed, carrying each with an average of 60 tons Aus-of the group's gloss in its hold. were slightly better.LPS. Rhodesia's 5 per cents scored Ia good gain and Union of South

Africa 5s lost ground.

German three per

cents of October 1972 and Italy Republic three per cents of 1977 hardened, Chile three per cents improved slightly. Japanese Governments showed little change.-China Mail Speclot

Unit trust

First Hongkong Fund:

Buyer Price

Seller Price

[Ord.)

Kwong Shang

Hong

43

204 100

21.00

Wing On

Vibro

Sincero

Emp

$1.30

$1.45

ONE IN EVERY SEVENTEEN

PEOPLE IN BRITAIN IS

A SHAREHOLDER NOW

Do you own any shares?

USA 1 person in 15

BRITAIN 1 in 17

FRANCE 1 in 22

ITALY 1 in 23

JAPAN 1 in 25

W.GERMANY 50

Chart designed in nichaEL, RANO Kondel Birkus Bervice

8 dust collecting plants for Russia

be

A contract for eight dust-

collecting plants to supplied by a U.K. firm has been signed in Mos-

cow.

The plants, which will be used to purify the hot exhaust: gases from carbon black produc- on units, have been bought by the Soviet Techmash corporation.

P and O group order three cargo vessels Three cargo motorships have been ordered by members of the P. and O. Shipping Group from Clyde. shipyards on the

The value of the orders fotols about £3 million. Charles Connel and Co. Ltd., of Scotstoun, Glasgow, the firm who have recently begun, the British practice

of installing Heavy control equipment In Yensels under

trading

The manager of the flim's dust and fums division, Mr B. J. Squires, who construction before the plating negotiated with the Russians, is carried out, are to build two sald on his return from Moscow: of the vessels. "We understand that half these

This firm only build hulls and plants are for a car factory bé- in most cases the neighbouring ing built at Dniepopetrovsk infirm of Barclay. Curle and Co. the Ukraine and the rest are Ltd. supply the engines. They for works in Rostov."

The cleaning efficiency of the will do so in the case of these two vessels-building 7,000 h.p. plants is obtained by passing the Sulzer-type dlcrel engines. dust-leden gises through tubu- This third vessel is to be bullt lar "stockings" of allicone at Port Glasgow by William treated Abreglass cloth capable

Co Ltd.. Hamilton and of withstanding very high tem- member of the Lithgow group peratures. "These eight plants who have a long record of for Russin will require approxi- buliding fast cargo vessels. A mately 30 miles of filter stack-Brn of engine builders In the Ings," said Mr Squires,

This order is the latest of a

1

Lithgow group, David Rowan and Co. Ltd. will install o series negotiated overseas by similar Sulzer engine, the U.K. Hrm. Large Just- collecting projects havo boon' completed, or are nearing com- pletion, in Rumania, France, Czechoslovakia and Italy.-

LPS.

Ordared

Dredger on

trials

by the British Transport Commission da part of a larga dredger- building programme the singlo scrow triplo grab hopper dredger Trinity Sand has been on trials in tho Clyde. Built by Simont-Lobnitz Ltd., of Renfrow, this dredger is for service at Hull, Sho was launched in Novem- ber.

Of 1,400 tons gross and driven by a diesel engine, the vessel has a hopper capacity of 1,800 cuble yards. She has a grab at the bow and the other two on elther side forward of amidships. The same fem are engaged In hullding another slightly smaller topper dredger for the Brillat Transport Loginlaslon 13 Work at Floatw

Bech of the three ships will be of 13,400 taris deadweight will be for tramping about the with a speed of 16 knots. They

world and will offer high standard of cargo space, fittings and accommodation, —LPS.

PURANERICAN

STOCKS & COMMODITIES

WHEN SELL

WHEN

TECHNICAL

ANALYSIS

On Stock Trends

Research Dept. PERENNIAL TRADING CORP.

· 010-838_Kotnikirgh Hou

Kon Kont.. T: XS, 20164