Page 2 Page 2
Page 2 Page 2
THE CHINA MAIL, MONDAY, APRIL 10, 1961.
Weekly survey of American economy
TWO ENCOURAGING SIGNS ENGINEERING
A mystery Recovery in
take-over
bid
London, Apr. 9. The Stock Exchange Coun- cil stopped into a mystory take-over bid for a brewery last Friday. It suspended oll dealings in the com- mon stuck of a Liverpool company "for the pro- tection of the investing public."
steel and automobiles
New York, Apr. 9.
Good news this wook came from two sectors
SCIENCE AN
combine
drill the farmer
for
HONGKONG New York stocks One-man
STOCK
EXCHANGE
Businere done at the Hong-
Stock
Exchange
this
koi mately $2,000,000. Noon quota-
ning tumounted to approved-
new
reach 1961 peak
Now York, Apr. 9.
toms and the morning's trans- Stocks reached a new 1961 peak this past week in hectic trading, and now are netlons:
within striking distance of the all time
Share
a daily rate of 21,000 units, Dank. ahend of similar periods of 1958 and 1950 although stuf not up to the 20.000 dally Wharf Co.
selling rate of a year ago.
of the economy whore it matters most right now-steel and automobiles. Steel's creeping production recovery at last is beginning to show signs of acceleration. Shipments of cleci in April will be at least five per cent better than March as a result of a risk flurry of new orders which started in the last days The move followed a "tenta of March and carried into Apill. Eve £21 million offer for Bents Custotners are starting to order Brewery Co. of Liverpool, a three to four weeks ahead and firm which owns while this is not a long lead 120-year-old indre then 500 pubs, a wine's time by former standards,
and three breweries,
thows in stabilising of the mar business
contiraning tiny litteket and Indicates a Bidders
uptrend, Janown London company named Anglas Nominees. They refused for whom to name the ellents they were ueling.
were
a
tor the Slock A spokesman Exchange Council saki "We want clarification of the nature of the bid and on whose behalf it is being made." Explaining that the Counell urdered suS- pension of dealings in the Bents, hares for the protection of the the official investing public, ackled "We are not satisded they have a clear enough picture of what is going un,”
FIRST TIME
It was belleved the first time taken such the Council had action because of lack of in- formation abou! bid.
д
take-over
Bents jumped surge 5/- to share, last around 47/ per Friday on the news of the offer
of 50/- per share.
̄ ̄ ̄ ̄ ̄ Rumours” were that--big brewery group was behind the bid and wanted to shield their identity. The Financial Editor of the Daily Mall zoid "I can- not see why a big British brewery should Ko about making a bid in this shifty fashion. The method aftends Dgeinst the city's views on take-overs."
ue
Most encouraging ni all, car makers at last are starting deliveries. to push for steel Some who have earlier deferred shipments from April unui May
want April delivery now stond.
in-1
was re-
The pace was apparently good though for Ford to Increase is second quarter production zoals by seven per cent, Chrysler by 40 рет
and cent
American Motors by whopping 50 per General Motors produc- cent. tion plans teve not been reveal- ed so far, but the increase, bere should be substantial too, Judg Ing by G. M. sales in March which were 34 per cent above February and January levels.
10. $30
50434
Miscellaneous fcatures in-
ABC Telegraph, ciuded
Buyers Bellers Bales
430 $40 40 433
high.
10 430
Bk. E. Anla
X.D.
222
Industrials paced by Ameri- ||
410
420
300 $20
can Telephone &
Telkoo Duck ik Gas
70
37
Duo 77
71.10
1000 21,40
Wheelock
13.20 15.30
2000
500 1000
2000 ir 15.30
HK Land
Youmali
There was one note of irony HK Tram. in the automobile market: the have barely car manufacturers
Ch. Light The Improvement
under way and already they fleeted in last week's steel out-801 their 1961 model year sales pt the best in nine months, have to worry about 1962. The
1,632,000
Is the possibility of a Production rose to
uns 22,000 tons above the strike next September 1 against previous week and the largest one or more of the big three Huto companies. The contract the United Automobile The brighter picture in steel with
for renewal mi was confirmed by another de-workers is up velopment: scrop prices Armed that time and
Lonnage see late last June.
ม
reason
Vending up 51%,
made the best showing of the Abbott Labs up 04, Connor, 402120 majer groups, witi calls again Mills off 7; Carter Products up 5%; Chance Vought up -5%: 1500 2120 the luggards.
0; Products
Dece
15,60
15.70
average 500 15.40
A Friday spurt of 4.34 points City
5% International Industrial Records up 15.40 left the Dow-Junes
up 5 Kennecott 1.70 Resistance nt 003.00, only
high up ; Singer up 74: Thomp- 115; Wooldroge 1000 in 20 pots from the record
in the inst 3000 15.20 touched
week of Don Ramo
Underwood up 0%: Universal 1980.
Pictures, up 8; United Air and US Sloe Lines up 494;
And there docan't seem to be high much doubt that a new
will be reached next week, The the phenomenat
experta said
success of the AT&T stock
of an early re-
covery in business activity, and
volume in the
all suggest that
prices are going higher.
been
has considence that has been adding impetus toward
UK Deck Provident,
otel
115 110 29.00
37
260 + 48%
200 or 401%
70%
200 20
Nis.
137
139
200 134
210
130
500
13
34 3515
700
5
offering, Aig
100
351
4.000
13
37 37
2500 N 371
persistent hig
550 37.
stock market
200
373%
Electric
Telephone
371 373
1000
375
1800
27
11
40 401%
1000
49
500 ur $8,
200 401
100 402
1300 437
1200 10
100 # 491.
3100 or 403
at least one of
038 40
50 or 4012
1962 model
Dairy Farm 3815 WLISUN XD Allied Inv. Textue
GI. Cement 95 9
39 4724 1000 47 149 11.80 300311.60 3.15 0.30 20303.20
10000 10:01.2
500 G0
1700 u 081
100 or 391.
Nanyang
Ing of starting $1 to $1.50 a ton at Pittsburgh, the Big Three is already think.
slow movemen! continuing
November, production ahead of schedule. began last which
By getting production of '02 Dealers said the rise, spurred at the beginning by wsing demodels under way carlier than received last year, the car companies mand for export, has support more recently by re- would at least be able to sample Amal. Buti
buying by locul their centers with two or three newed zerap
of their new models before a City Hotel steel mills,
Realty strike shuts down assembiles. Ex. Ris The few '82 models plus a good-- Star Ferry of 01's would ink & FE all_inventory then "hold" the car makers till a strike settlemen! is reached.
NEW CARS
As for automobiles, produc- fion climbed there, too, but it was not as spectacular as yet as the climb in sales. This win just as it should be the in- lustry still has a large inven- try of new carn to work eff.
UNEMPLOYMENT
Meanwhile unemployment fell by a less than seasonal 210,000 U.S. motor vehlele produc-In the month ended March 15 tion last week totaled 143,245to na total of 5,495,000. On the te, including 101,074 passen- other hand, total employment In grew by a more than seasonal per cars and 21,371 trucks. TC-
British breweries have cently seen a spate of buy-out moves and mergers and brewery stocks have been market-UFI.
2
volatile
were
• 6.00
27.30
141 1.55 2009 M 7.03
120007
50 27.50
speculative
the upwing been the
this year, and it has
general public and not the in-
ievestor who зututional
has
been responsible for the record
trading pace.
far this year are Sales thus
than 100 million. ruuming more stares ahead of the 1980 pass, Institutional investors, of course, their trading. have stepped up but not enough to be the major reason behind the volume rise.
HIGHEST
Volume this past week, thanks
2,40 3203 ve 2.40
to a seven million share day on 2.35
200 201 100 239 Tuesday, amounted to 28,087,50, slightly under the shares just 20 (1.5), 336 - 2229
0-10-total oг. 29,020,120. 22.35 March 4103
1000 22.20 1033.
up 5UPI.
TEXTILES
WEEKLY REVIEW
New York, Apr. 9.
Industrial
somo
fabrics showed improvement this past week following more encouraging reports automobile production,
on
but buying interests can- tinued to be extraordinari- ly quiet. Buyer reluctance stemuned number of factors. from a Foremost of these were:
1. Avaltability of resales of
A
London, Apr. 9.
new combine drill which can be operated by one man without moving from his tractor seat has boen produced by a United Kingdom firm. Unaided he can drill, sow seed or lay fertiliser.
Describing the unit, the firm say that this is possible because the dell is hydraulleally oper aled at a touch on the tractor controls to it both the hopper and the coullers.
hydraulic
as
T'wo four-inch tama placed either side of the drill put the caulters in or out of the work position Tu- quired When the coulters are down the seed and the feri- lisers are driven through plastle tubes. These tubes are held in position by qulek release spring clips and are corrosion resistant.
A
200-ton bridge floats to London
pro-fabricated
stool bridge,
welded
weighing
nearly 200 tons, built by a firm with works on the rivor
northern England
Taos, arrived at Regents Canal Dock in London recently, the
They do not kink, say
the makers, because
coulters and hoppers pivat on the draw- bar as one unit. When coulters are
It was launched into the River
the Tees, floated down the east coast Thames to and towed up the Keed
journey of three
raised the and fertiliser doves me auto- Stepney--a matically disengagedd
to allow days. combine dring.
FIRST TIME
This is the first time. It is
clieved, that a bridge has been despatched such distance in this manner and it was speci- Acally designed as a seaworthy Ponform in order to brold Jam- ming roads with heavy pieces of equipment.
The rate of seed sowing or tertiliser melering is widely -adjustable and can be set to requirements by levers mounted
used on the ari,
con- Junction with the chort provided. Bianking off plates are available for the feeds in the hopper. Adjustable bot- toni
rach foed flupa control the smooth sowing of The swing bridge is of box seeds of varying types and type construction. 135 ft. long
zes. The
fully How can De
by 32 . wide, and will be used observed from the tractor seat. I to carry both pedestrian and
on
Hoppers are available in two sizes for the combine drlil.
A
1090 22.30 which was the most since July, some print cloths it below thiriein.......row_unit__ fives_six the cost of the new bridge with....
100010
CHIMIN
4.45 42
10004625
2000 411⁄2 9000 14.40
Canning
Amoy
01
Peak Train
bat? Invest in Not
14.70
t
123
F. Pd.
GP. Pd.
Sincere
3%
200
100
20.00
the previous week only 87,934 810,000 to reach a March record
trucks
of 65,510,00. But because the Kwong Sang rs and 21,534
Ilong drop In unemployment was less assembled.
Wing Cr at this Vibro than normally vccura However, viewed on a year-
time of year, the percentage of to-date basis the record was far
vis-a-vis the unemployment So for this less impressive.
total labour force actually rose year. the Inzustry assembled
from 6.8 to 0.9. 1,434,000 units, almost a million
BANK OF ENGLAND Jess than last year's 2.422,000
STATEMENT
London, Apr. 9. The Bank of England state-i ment for the week ended April 5, reade as follows:
for the same period.
This disclosure by the Labour
confirmed Department
earlier
In sales, however, the #gures fears that even with an econo- serious looked a litle better and this mic upawing at band was the main reason for most of hard-core
unemployment will
solu-
the car manufacturers boosting probably plague the U.E. econo their tentative sembly goals my in the years to come and
require long-term for the second quarter, March will sales totalled 480,000 units at a tions, daily pace of 18,000- some 20 February but per cent above 10,049,133 still a helly 10 per cent below 307,873,356 March 1000.
Notes In rirculation... £2,200 583,501
Pubile deposits..... Private deposits...... Government recurities Other securillen
Receipts
Ratio
42,625,140
43.05.74K
14.630,213
2.0
UPI.
P.O
ORIENT
LINES
EMBARKATION NOTICE
s.s. "ORSOVA"
On the other side of the Markel, the Stock economy, concern was caused by the part
performance. week's
For Mr Funston unusually sharp
are
The
mill levels;
2. Previous
The seven million share turn- over was highest in 5 years converters:
3. linports; and prompt New York Ex- 10000 4.435 Change President Keith Funston
15020 4.43
2002
LONDON
STOCKS RISE
Trading volume
andments
commu-
EMBARKATION: The ship will be berthed at No. 2 desired effect, apparently. The
Pier, Kowloon Wharf. Passengers market quieted down later
SAILS:
BAGGAGE:
und
M
overbuying by
4. The abortive rise in raw Following The prices
male government loan
mid-February, caused Discussion
to sue a warning against reck-colton less investing, he called on in-higher vestors to use extreme care for the 1031 crop, announced in selecting securities.
peril of warning Funston Flight casiness in the market on low-priced fabric Imports con- with 1,050,000 tinued to be an overshadowing Wednesday,
but influence. sciback
shares drop in volume, was only a temporary
be
on the
ex-
Some milkmen
to "dangerous thing" as the list moved higher in the Pressed a warning that it could last two sessions.
blarn all of The market As one expert put it, the trouble on imports. He conceded pubile has been warned against they are a serious threat" but excessive speculation obviously isn't scared.
Unit it
not altogether responsible
for
business
long periods which have
One broker looks for a re-le monotonously turn to favour of such groups of slow
as cars, aluminium, chemicals, only been relieved in recent oils and steels which long have months by short-lived flurries been regarded as the backbone of all-in buying.
of American industry and the beneficiaries
sperity.
of halthy pro-
OVER-SUPPLY
STVO other factors, sharing
motor iraffle over the enitates 10 the Regents Canal Dock. British Waterways “ara, shōting hundredweight of fertiliser and the London County Council.— 1rce hundredweight of seed; LPS. Aftre rows dive seyen hundred- weight of fertiliser and 3 hundredweight of seed. (The drie also available for seed only). An optional extra to the dr drive speed reduction set for rowing low quantities of small seeds or fertiliser.
and The drive for the sted fertiliser runs is taken from the land wheel of the drill through roller chain machine cut gears. The actual land wheels pneumatically tyred and act as useful markers when working. --LPS.
are
Washing, sterilising
beer containers
Alghany Corp., involved in responsibility with low-priced | Up to 400 metal beer con- In bilter proxy battle, was the imports for market duliness, he
nast active issue this past week cleimed, have been: with sales of 1,440,400 shares. 1. Refusal of
Fairbanks
Whitney
отв
л
some
con-
were more
overy
Monorail for Seattle
Now York, Apr. 9. Construction of a Swedish- dosigned high-spood monorail was started re- cently In Scottlo, Washington.
Alweg corporation of Sweden designed the monorail.
The $4.2 mabon menorail will Finfc Seattle's downtown.bumintes district with the site of the Century 21 World Exposition opening them on April 21,
MOVING BELT
London, Apr. 9.
tainers, of capacity from five to 18 galions, con be
Alweg said lightweight, elée- cicaned and storilised
will trafris trically-powered new straddle dual hour by a
concreta - trucks machine developed by a along the one-mile route: Two each will United Kingdom firm. Atralus of four care smaller vorsion of the carry up to 10,000 passengers an hour to and from the exposition. At the downtown terminal a moving belt will carry passen- Level 40 the gers from street
same model handles to 200 per hour. Casks, kugs and drums placed upside down carrier, with
Up
are overhead loading plakforen,
or a
necies seurately į U.S. Senator Warren G. Ma- centred on a rubber moulding gnuson, Democrat, of Washing- and rims held fly in a con- ton State, halled the monorail centrle groove, They are then as a possible "break-through In given
Internal our search for new ways to move a preliminary
along crowded cily and external wash. After drain-people
Are moved ing, they
succes streets, AP, sively over six rotating jets, valves controlled by soleneld and mers by means of which detergent solution is infected
all over the interior surfaces. After cach cleansing the jets cut mit, the beam on which t
From
New shaving discovery
London, Apr. 9.
some mills to
Nevertheless, the tempo of
seven million volume of shores Stock surged higher every The bulk of this volume, more:
ot some con- than 900,000 shares, come in the curtail operations, resulting in sales was increasing. In the reached on Tuesday
provoked day this past work.
Tuesday session and was ettel- an over-supply last days of March It reached
one of the rare comments of the
stepped buted to purchases by manage-structions.
of 2. The tentionery! New York Stack Exchange pre-
It finished up sident, Keith Funston. He ex- higher each day and the buying ment interests.
present verters, and other piece goods fairly heavy only 2 peint as the pressed concern that the hectle zest outstripped
the account management claimed victory in buyers, to cover too far ahead such trading pace may be attracting profit-taking
the Sght.
th-rising market, to the market "uninformed" ended.
as happened around this time a speculators who
buying
The public
the runner-up with more than
760,200 shares, | year ago. Some converters are stocks when they should not.
maitutions net the
working out of pace. tm-and was followed by General reported stir.
Standard Oil, New those purchases. Mr Fansion criticised those deterred by the £82 millon fol! Telephone,
gold reserves and Jersey, Avnet and Brunswick
While Imports have taken who "have not yet discovered Britain's
business why
from that it is impossible to get the underlying balance of pay- Corp.
weakness.
in Buyers of American Telephone, now
domestle tallis, the other twụ for nothing something
heartened by the midst of a huge stock offer.
factors should not be over- (who) are attempting to make equities seemed
looked in laying the blame improper use of the Facilities the government's economle suring to its shareowners, shot up vey which foresaw a signideant 0 points on some favourable
famine of of the investment
for the present increase in Industrial production comment on a long term growth
new buying orders, it was nity,"
(in 1901, rising consumer spend-prospects.
contended
market by some The these were ing, increased capital investment
Dow Jones averages
analysis. words. The and government" expenditure, falched the week with the 30
Over the four days the Finan-Industrials at 083.63 up 7.05; 20 Weavers of bag sheetings last time he spoke up in a simi
two years cial Times soared 0.2 points to ralio et 144.41 of 1.79; 15 fabrics, however, lar tone was come ngo. The new warning had its 351.4
ended B.6 points, uities at 112.23 up 0.32 and 65 outspoken in lamenting over the
stocks 228.02 up 0.86.
competition from imports, One lighter then the 1900 peak. in In contrast to this sparkling The long-awaited upward rouree estimated bagging cloth resta is lowered and the con
tainer mover forward to the amounted to performance Hold mines felt moverment in the oils stocks ap- Imports in 1000
stage. Dome-shaped This next Encl
index and tho
broke parently
underway with around 178,000,000 yards, got
beneath the through the previous all time- Amerada up 7% Kerr Megree was figured to be equal to the rotating covers
jetz direct the toulet walor aulmit of 4,500 doméstic fooms, low out after
the Sharpeville up 9. Unton Oll of California Tunding 24 hours a day los 30 3way from genes and ensic ex- shooting inclilent.
10, Richfield up 53⁄4 and Jersey.
teriors, thus preventing Kny weck, or in other words equal Demand for fre blue chips in Stondlard up 3.
recontamination. industrials
Buütles week
featured gains of to the production of 10 averages San Francisco, Apr. Ú. Increased. Most sectors enjoyed around 5 points in Consumers rized mills.
Power
Hard Abres featured a weaken- and deples's Gan, but buoyant weck. Motorr Owens-linols the Ennis
lodres of around the same ing situation in all direitons- Should bo nent to the Hongkong & Glass Company for the quarter plasties, fextiles, alterafts and on to in
nad buring, jule, hemp and rizal, amount in Pacifle Gas Kowloon Wharf Co.'s Godown (No. 2 ended March 31 will be kihallar tobacoor were well
Suuthern California Edison. Burlap dropped brek 4 to 1 Shipping and Gato), Canton Road, between 8.00 to the comparable 1900 quarter, higher ground.
In addition to AT & T the ecat a yard, following the trend nt Calculin and reflecting inbre American m. and 5.00 p.m. on Sunday, 9th Mr. Hancock, Vice-President, shipbuilding were ille changed,
Finence, raid today.
narrowly. Rub blue chip showed Olls moved
and Enetman encouraging news on crop pros- April, 1901.
Ibers moved higher ground but Tobacco up S
pects in Pakistan and India. Kodak up 47%, but Alcos down Hemp and risal Last year's Arst quarter rörle teas shaded.-UPI.
suffered from 34. Youngstown Sheet moved the prolonged togs in new buy Ings amounted to $7,013,041 of
(p 1% in an otherwise steady; 90 cents a common täiáre ort sales of $180,000,000.
oiect group. Despite a brightering in the face of abundant avneble in supplies, reported nallbok for ears, Ford lost major producing countries. point and Chrysler . General Wool fabric news highlighted Motors added a fraction.
reports at a "aubinial" agree-on, the spears from the con-
and many other world markats. There were some wide wingament which could lead to theater can be washed bara to the cluctrotiles, particularly [calling off of the threatened steriled in another machine. The manufacturers regard new Blue Gillette Extra bladen - an 10%, May boycott by the Clothing Ten at a time are attached to a
frame which acts as | thé gréftést 'eclefiilite brekk- Beckman oft 44: Zenith up Workét Union on imports of portable 238 7% and Rollkfice Blechile up Japanese Rooda 16 men's the closure for the cleansing through th the history
equipment.-LPG,
shaving. | sulungs,-UPI.
should embark between 9.30 a.m. and 11.00 a.m. on Monday, 10th April, | 1961.
The ship is expected to call at NOON on Monday, 10th April, 1961.
SUBJECT TO CHANGE
Agenta:
MACKINNON, MACKENZIE & CO. OF HONG KONG LTD,
Telophone: 85211/9.
1
the weak-UPI.
Firm's earnings
over
tt10
Exchange rates
For the year, Bir Hancock naid, he expects cartings and
Donne was done in the izcel salon to be ahead of last year's moment exchange market Azures.
morni at the following_rates: ifa. dollar (DHF_${
#1) Last year, the commponty's corn, sterling rates (per £10.....
Fronten ter 1001 ings were $33,100,000 or $6.49 | Aupiralan notes (per £1) ....... a shure on sales of $581,000,000, Blaen ticals (per 100)
Hingapore (Stralis) -China Mall Special.
13.00 Amphenol-org down
1.00 1.
INTERIORS
turore of
the London head- quarters of Gillette, the well-known 'manufac
and razork blades, comes :newì of an important scientific
dir- covery which promises to revolutionlan shaving.
After detergent cleansing nat further draining a warm-tinse
Years of extensive rescatch seellen completes external wach carried out in their own labora Ing. Interiors, aftor rinsing toties have developed a unique with hot mains water heated process applied during the pro- through an exchange colt) and duction of razor bladen which then with cold mains water, remulls in a high standard t finally steaned and drafted to shaving comfort and emelency. be ready for unloading. Wasto water from the Internal rinsing The now product made pon- and steaming is recirculated and sible by this development la used for the exteriał washing. know on the Bide' Willetto While this operation in going | Extra Blado and has met with big, success in Europe, Amotiņa
and
#1
Page 2 Page 2
No comments yet.
Private notes are available after approval.