1961-03-22 — Page 2

THE CHINA MAIL, ・ WEDNESDAY, MARCĮI 22, 1961.

New York closes mixed HONGKONG

New York, Mar. 21,

Stocks closed mixed after another active session today. Rails showed unusual strongth while industrial shares eased, despite a small closing rally.

Rails smashed through an important resistance level carly in the day and then moved sharply higher, aided by a Senate committee's recom- mendation for financial help to commuter lines.

Of a total 1,311 shares traded, big 050 were higher and 450 lewer.

American exchange **

was 3,200,000 shares.

Fractional gains in the grous? widespread while were eastern Hines such Pennslyvania, Atlantic Coast Line, New York Central and B&O gained well over a point.

Steel,

chemicals cars and recovered some of their earlier lossen in later rally and finished mixed. Argo gained

L

Bond volume

$0.060,000.

volur.e

amounted

to

-

Dow Jones closing averages were:

30 Industrials over 2 white Tuxaço shed about 20 Rails 1 in the olt. Phillp Morris 15 Utilities lost around {wo urek Ligget 65 Stocks

arl Myers ono in tobaccos.

• Drugs. faced

with

-878.73 of 0.11 149.83 up 3.61 111.79 up 0.97 229.39 up 1.54

Closing prices

price-

Abiti Pwr. & Paper

Aluma Steel Corp.

rigging charges, showed two

dretined paint

in Bristol Myers, Norwich.

Merck and Sterling, IBM fell around eight

In the electronics while Emerson Radle lid three Zenith picked up thres

anel

Allied Mills In

A. Brake Stroe

| A. Cable & Radle Comp

American Cyanam!

Co.

Amer. & Forgn. Power Ar. Gas & Electrie

Am.

Home Prod. Am. Natural Gar Antpex

Today's volume was 5,780,000 Amico Steel

shates.

Asbestos Corp.

in active trading

Batwin-Ling-Ham.

Hank of Montreat Hank of Nova Scotia LiDeen Life Savera

C. Tel. Co.

Bell Telephone Beneficial Finance Bendix Aviation Corp. Benguet Cons

Boeing Airplane Bonded (The) Co. Burroughs Add Machine British Amer. On British Columbia Wr. Calif. Packing_Corp. Cano, Bk. of Comm. Campbell Soup Co. Canadaian Paciße R. Case (1) Co.

C. 17. Financial Corp. Cinett Peabody Colgate-Paimallve Co. Colombian Carbon Co. Commercial Credit Coming Class Works Consolidated Paper Continental Can Continental Oil or Del, Creole Pet.... Crown Zellerbach

Delaware & Hudson Co.

Plainond Alkall

Diamond Nat'l

....

Ferro Come & Rubber Firestone Tire

$ 40

37

1st

45

17

Distillers-Seagrams

Dominion Stores

483

Donlan Aircraft

it

El Paso Natural CaS

1912

234

74

Ford Motor Co. of Cana. Georgis Pacife...

Gen. Tyre Rubber

Goodrich B.F.) Co.

Great Northern Railway

329

Gulf Oil....

Hammond Organ

201

Heyden Newport Corp.

Hi Walker ........

45

Komertake Mining Co.

COMMODITY PRICES

METALS

*

توائه مانه

Glidden Co

Grumman Aircraft

Huren Refrig

Idaho Power

NEW YORK

COTTON MARKET

Now York, Mar. 21.

Cotton futuros today open-

ed uncertain and remain- dofonsive for ed on the

the rest of the session.

Closing prices ruled off two to 18 points. The market open- ed unchanged to off 31 points. New Orleans closed off four to 11 points.

Technicians thought the mar- ket was experiencing a natural readjustment alter the recent slow, but persistent rise to new seasonal highs.

Commission

were the

house brokers sellers, prominent

hedging Gerale-down

along with scattered

a7t which

supplicit

trade demand

Buyer hesitancy also reflected

431 reports of a slackening demand for raw cation in the southern markets, suggesting that anilis had covered und merchants

their requirements for the time being.

Elsewhere, traders

markeri

time pending congressional voz- sideration

UFI.

of farm legislation,

American Contract

537%

Mar. May July

235

Imperial Ou

Imperia Tabaero

13

25.15

Inland Steel Ca

interchenical Corp.

30%

Mar,

24.10

Likert Blyers Tob, Cu

XSN C. Power & Light

G5

Mixed Contract

Lily Tulip.

NEW YORK

Mar.

24.70

Lorillard P

AB

Closing

prices all in

cents

May

Noranda Mines Ltd.

43

July

33.50

Olin Mathieson

40

or any other new incentives-

Lead

24,80

Parke Davis Cn.

424

Deg.

25.00

10.20

Penn Salt Co.

10:38

Pitney Bowes

Portland Cen. Elec.

Pullman

Mor.

11.30

Muy

12.17

Raytheon

Royal Bank of Canada

Mar.

20.93

Rice Mfg.

Sears, Roebuck & Co.

May

Southern Co. (The)

Southern Railway (Cur.))

per thi

Mar May

Zie

Copper

COTTON

NEW YORK

25.25

-UFI,

KUBBLR

NEW YORK

futures closing Rex rubber prices, all in cents per lb

Mur: 30.50: May: 50.50; July: 30.20; Sept: 0.10; Nov; 20.75; Jan: 20.75,

LONDON

Closing prices all in pence per

Closing prices all in cents per b.:

Spot

Muy

July

Oci

Dee.

Mar.

May

July

1b.:

No. 1 Rss spot........ Settlement house term:

2011-20

33.35 nom

32,10

33.64

Apr/June

25%-201

34.21

July/Sept.

251-20

34.00

Nov./Dec.

25-26

15.29

Jan/Feb.

2514-233

25.00

Mar/Apr.

25-15-25-2

35.50

General markets, e.l.f. May

baxis, parts:

2512-9519

Eslate crepe tilų April

thick April

272 2016

UPI

LIVERPOOL

Closing prices all in pence per

Shell O Co.

Schenley

Inc.

Southern Parle Co.

Sperry Rand

Steep Rock

Stone & Webster

Tine Inc.

Tradera Finance

Traveler Inc.

United CDT Corp. Western Union Tel. Co.

3 furnaces relit

Youngstown, Mar. 21.

Youngstown Street and Tube

63% announced that It had Tellt

3372

-UPI.

Unit trust

First Hongkong fund: Buyer price: $1.30, Seller Price: $1.45.

Selling Price: 8th August, 1960-$1

FIRST HONG KONG FUND

Solling Price: 16th March, 1961 - $1.45

SECOND HONGKONG FUND

IMPORTANT

Applicatione

The offer opens on 29th March, 1901, and closes not later than 20th March, 1981. must be received at the offices of the Managers, Hongkong Unit Funds Limited, P.O. Box 000 Hong Kong, or 7th floor, Alexandru Fouse or at The Hong Kong & Shanghai Banking Corporation, The Chartered Bank of Mercantile 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 DO FOR A MINIMUM OF 100 UNITS AND THEREAFTER.

IN MULTIPLES OF 100 UNITS

To: HONG KONG UNIT FUNDS LIMITED

No.

We hereby apply for......................................unile in the Second Hong Kong Fund at the advertised price of $1.00 per unit. In accordance with the conditions contained in the uffer and subject to the terms

Trust Deed dated 14th March, 1901.

1/Wo enclose chequesmoney order/cath for .......... ........being payment in full for the number of unite applied for, 1/We understand that the inoney will be returned to meftis in full

ne Units are aloited.

AJOUX JAEHRAD

I/We declare that I/We amfora over 21 years of ado.

BURNAME(S)n English

¿Please state

Mir, Mrs, or stian

OTHER NAME(S) IN FULL-

ADDRESS.

three open hearth furnaces

at

its Compbell works here over

weekend. The the

furnaces

STOCK EXCHANGE

Our Own Correspondent

LONDON

STOCKS GAIN

London, Mar. 21.

Business done at the Hong-Industrial stocks continued

Exchange kong Stock

their good performance, this

spurred by Wall Street's morning amounted to approxl- mately $5,000,000: Noon quota- climb which alio brought tions and the morning's transac

jumps in the' dollar hore tions:

and again lifted its pre- mium for British Inves- tors in transatlantic coun- tors.

Share Beyers Hellers Sutes

HK Bank

448

00

430

50 430 175454

Breweries led the field al- though not always keeping their top levels. Engineering equilies' forged ahead but steels tended easier. Electricals and stores firmed,

Easiness marked

but Greek 7 per

1⁄4 to £35.

gilt-edged

cents gained

Olls got off to a good start but slipped later, most leaders the way losing fractions with Royal Dutch the exception going higher at £15.

оп

VANSPORTATION

'Railplanes' solve

a traffic problem

and foreign bonds were qulet, The problem of the frustration of air- traveller, who is faster than ever in the air, but slower than ever on the ground run from airport to city centre, may be solved by the use of "Rail- planes" running on an overhead mono- rail.

442

430

442

100

440

24 444

(Lea. Rep.)

Wharf Co..

330

332

200 230

100 6 380

100 300

100 m 182

Tallcoo

701;

78 1200 78

20077

300 # 761 100 60 77

Wheelock

14.00 14.70 2000 e 14,40 0000 1417

3000 14.00

BK Dock

#3)

134

100134

400 7 134

200 133

2

2:00 132

C. Provident

3

Ex. Div..

29.90

500 20.30

3

1500 0,70 30029.00

3000 + 20.40

2430 44 2000

1000 20.30

300 29.00

500 29.60

Ik Hotel

Ex. Div..

47 4014

1000 2 47

400 or 47

3200 40

IK Land

Ex. All

74%

TE 2400 12 7414

200

BOU 75

Youmati

Ex. Div..

133

tas

400 or 131

HK Tram Ex. Div.

33 3019

150 3349

3314

33

1000 m 3314

200 133

Ch. Light 341 3415 2000 m 9514

were closed down for construc- HK Elec. tion work on rolling mills,

The move will increase pro- duction sharply this week In the Youngstown district which had originally been scheduled to hold its steel operating rote unchanged at 36 per cent of capacity.

Sheet ond Tube said it would relight additional steel- making furances at the Camp- bell works this week and also that it was recalling hundreds of furloughed workers.

Tho increase in employment will be temporary, however, as the Sheet and Tube Brier Hill is in works

Youngstown scheduled to suspend opera- tions for a time early next week for reorganisation of China Mal rolling mills.

Special.

STEEL STOCKS AT

LOW LEVEL

Cleveland, Mar. 21. Inventories of steel users are about as low as they can go. according to four out of five answers to a steel magazino survey released today,

Some users say that a 10 to 16 per cent increase in orders would create inventory hard- ships in their operations.

If the tapering of ventory Hquidation is accompanied by an orderly upswing in steel buy- ing. steel makers wil RECOM- modate the growing demand by gradually increasing output and without extending delivery pro- misty significantly. They will boost operations

from

this month's average-35 per cint of capacity to 60 per cent 12 April and 85 per cent in May, the survey sáld-China Mall Special.

·AMERICAN SOME STOCKS & COMMODITIES

HK Tel.

Ex. Div.. Cement

101%

3520 35

180034

500 m 3412 2000 3415

500 31 1000 3412 1900 m 3334 200034

2000 22 3454 1000 6 345 5500 of 3475

GO @ 34

4000 341% 100 @ 343 1800 3415

37 2100 @ 2712 10003034

4415 4424

001 07

25003014 2000 có 35 1000 @ 3014 2012 3015 1000 311⁄2

500 44% 2376 $415 100000

400 0 60% 400 60 1500 @ 5612 1500 G G7 1500 0 07

GOO 0714 500 17 5000714

Dairy

40% 40%

300 419 15041 1300 4015

2000 404

2725

101

Textile

1.20

B 2000

81

A. Rubber

7.15

7.20

8000

7.13

1000

7,15

4000 7.35

Nubber T. HK Cas

0.15

6000 69.20

20.00 20.70

Realty

.... 3.0.35

KK & FE

im. Amey Can.

800 @ 20.10

1500 20,00

200 20.30 1000 do 2016

400 20

3000 20.00 3300 20.70 800 20.80

2.03 2000 2,1125

6000 is 2,00 20000 + 7.576 5000 GR.GO 15000 2.00 20000Z.325 1000 2,05

10.40

GO

300 a 19 50 of GO

Tourists

London, Mar. 21. A record 65,300 overseas visitora camo to Britain in January this year, the British Travel and Holidays Assocía- tion; official tourist organisa tlon, said today.

This was 21 per cent more than in the January of record- breaking 1980, the Association said.

Rubbers and teas were sub- dued. UPI.

Closing prices

Brill Government Becaritler Consolidated—£42. Conversion-C-13/te.

Savings 1906/05-296-31/as.

36, Savings 1960/70-£78-19/10. 3. Savings 1065/75-7-1/16.

Overseas Bonds

, Gennan (Dawest~~~£Ð1⁄4 5. Japanese, Assented-E21.

Bank Insurances

Ord-14 9.

Barc Bank-305 D.

Guardian Ansurance-140 30. Hongkong Bank - £20, Lloyds Bank-£65% 4u. Lombard Hanking On-225 kl.

علان

British Petroleum--50s. Birmah Oil-47a. Shell Transport Ord-1905 0 Royal Dutch£15.

Steris & Engineering

Babrock & Wilcox Ord-35s d Tube Investments-84 d. United Steck-695.

Vickers Ord.-334,

ALSOC

Electric

Elec. Industries-468. Flec. & Mus. Industries-04 English Electric Ord-3 kl. General Eirettle Ord-364.

Industrial

ÁRSOC l'ortland Cement-1 7ed.

A powerful financial and re- search group of leading French firms has constructed an ex-

perimental stretch of suspended Second of five Clan

monorol track at Chateauneuf- sur-Loire, a hundred miles from Paris, and after continuous trials,

system is xay that the now a commercial proposition.

The "Railplane" has a cruis- ing speed of 60-70 mph, and hangs from a "split-box" rail which completely encloses the bogles, thus giving protection from snow, lec, und sand, and also, in conjunction with rub- bur-tyred Logies, cutting out nulse.

The "pilt-box" rall permits cornering at high speed; and the Railplant is not affected by strong cross-winds. Power is sufficient to climb gradients up to 1 in six.

line A two-way connecting an airport and bity centre could be built un pil- lars, 100 ft apart and placed-on the dividing verge of a double- lane highway.

vessels launched ·

The motor cargo ship Clan Forbes, 9,000 tons gross, was launched on March 2 at Wallsend, North the East England, from yard of Swan, Hunter and Wigham Richardson Lid. She is the second of

ordered five ships from the builders by the ond Common- Shipping

British

wealth

pony.

Com-

The launching was on schio dule in relation to the delivery Track signals are duplicated date. The first ship, tho Clan Fergusson will be completed delivered to

in the driver's cabin, and en-

Boardman, Mardens Ord-able trains to be run at inter- next month and

vals of 90. seconds, normal for

Dusep Rubber Ord.-23% d Forestal Land-136.

Chan Holdings) Ord-ba 4168. Budren's Bay--13/10. Rediffusion Ordis 1019, Turner & Newall Ord-fix 3d. Unlever Ord-1525 Jad Westland Aircraft178 782 De La Rue Ord-2.

Chemiesla

Imperial Chemical Ord-716 4140, Monsanto Chemienki Ord-24 d.

Paper

Bowater Paper Ord-56s, Wiggin's Teape Ord-3s tid.

Tobaccos British-Amer. Tob. Ord-70s 3d. Carreras "1" Ord-45 74d. Imperial Tobacco Ord-10: 04.

Motors

British Motor Ord-17s 7140. Hawker Siddeley Ord-20s told. Jaguar Cars Ord--831 Id. Rolls-Royce Ord-43 34. Standard-Triumph-121.

reküllen

Calico Printers Ord-14 4158. Conts J. & P.) Ord-443 Ext. Courtaulds Ond-415 7124, Fine Spinners Ord-29 d. Lancashire Colton Ord-Gïs 1950.

atores Great Universal Ordby ods. Marks & Spencer "A" Ord Moes Empires Ord-13a Jct United Drapery Ord-69 41%d, Woolworth (F.W.) -Ord—67% 04. Miscellaneous

Dowmaker Ordmese 114 Canadian Pacine Ord-4536. Itongkang & China Gas-154. Indo-China Det. Ord-24# 41¢ď. Land Securities Ord-20s 34. P. O. Steam Nav.

dd.

Stolt Theaire-10s 41d.

Mince

The Reers Def-1401, Petaling

Des-14

Rio Tinto Bearer) 2-5/32.

Roan Antelope Copper Unien Corporation-632 31. Welkom Gold Mining-15 Western Hohlings-19

764.

3d.

Blubbers & Teas Anglo Indonesian Plant. - 11⁄2d. Cevlon Ten Ord-309 34. Imperial Tex Or16. Kupio Lumpur-Kepong Lambak Rubber-540 4:54.

Router,

the Clan Line

mass transport, but faster fee- her owners, quencies can be used. Construc- Steamers Ltd., on me. tion of a double track, with 'toll- ing stock, slations, eld., would amount fù a current maxfinum of £10 million per mile-- London Express Service.

(See pleturë)

Spoil dredger

for Calcutta

COMPETITION

Mr E. J.

Huster, chairman

of the builders, said after the

order for was ob-

com-

launching that the the fist three ships tained against overrsens petition. He added: "I think it is an intention of the own- ers' satisfaction with our work. to

their date and proot of conviction that our prices re

competitive with those main abivad, that they have recent ly placed a further order with us for two more ships, making. ave in hul

A 1,056 gross tons, steam- operated multi-bucket dradgor the Ajoy-has Just completed her trials from a Scottish yard and is sailing this month to Calcutta, Built by

Fiering and Fer-

Scot-not, like the first two, be de- guson Ltd., of Paisley,

livered to the owners to their land, Ajoy is a square-built satisfaction both with regard to vessel with twin ladders which workmanship and contract de- can be operated angles. The livery date. This la

chains of buckets can dredge

to મ

depth of 50 ft and can

"I see to reason to think that the remaining three ships will

ance which reflects

bring up from the river bed credit on alt 2,000 tons of spoil per hour. workpoople." This in discharged at right an

into hoppers through

DETTOTITI

great

our staf and

The Clan Forbes was launch- gles

ed by Mrs A. E Lemon, wife chutes.

of a director of the Clan Line. The vessel is 184 ft long and Mr B. G. S. Cayter,

deputy both her dredging equipment chairman of

and twin propellers are driven Commonwealth British and

1

Shipping Co. Joy! stcam triplo expansion Ltd, said that the new vessel machinery.

the fourth to bear the same The same firm bullt a simil-would serve the same ports or dredger in 1912 called Box-in India and South Africa as er and this vessel is still india the first Clan Forbes, service in Calcutta-LPS.

which was built in 1882-LPS,

SIGNATURE(S).

Telephone No....

Dále

(in the case of joint applications all persons must sign. Corporations should complete under the band of an authorised officer whose designation should be stated)

SPECIMEN SIGNATURE(S)

NOTE: Free information booklets are obtainable from leading banks and members of the Hong Kong Stock Buchange or from Hong Kong Unit Tunda Limitad, 7th floor, Alexandra House, or 2.0. Box'09" (Tcl. £8100).

C.M.

WHEN

DUY

TECHNICAL

ANALYSIS

On Stock Trends.

Retiafch' Depa‚ ̈ ̈ PERENNIAL

TRADING CORP.

Hojuse

Agreed merchant

rates

Canadian Dollars: Maximtıra celling 17-3/32, míñlmum buying 17-11/32 TT.; 17-13/32 Q.D.

Swiss Francs: Maximum sell- ing 14-1/2.

West German Deutschemarks: Maximiuin selling 68-7/10.

Exchange rates

kies1

Was gone in the uromelatexeliange market morning at the following raten; ..

US dollar (per 13

Sieving outer(PREJME)

Australian notes ipar. 61) Indogan, Tuptat

Bingapore (Straile)

(per 100

A "Railplano" comes to a halt on the Chateauneuf sur Loira expuri- mental line, and the

y "lowered" to bnable partengün Stove Photo, Pa

'deleand.