Page-
THE CHINA MAIL, THURSDAY, APRIL 13, 1961.
Commonwealth Profit-taking eases
trade said expanding
London, Apr. 18. Commonwealth trade, was "expanding strongly" in 1959 and the early part of 1980, according to a report on Commonwealth Trade pub- lished today by the Commonwealth Economic Committee.
But the share of the Com↑ in sales to countries outside the monwealth in world trade which Cammonwealth, especially to bins teen falling for svetal the United States, Western and years has changed little since Easter Europe, China and 1857 with exports forming 27 Japan, the report sald. There per cent and imports 20 per cent was a growth of exporte to the United States of British care, of the world total
und Australian and New Zealand
In recent years much of the expansion in exports from Com-meal. monwealth countries had been
Improvement in U.S.
economic
activity
Washington, Apr. 12.
OUTLET
Western Germany and Swit- zerland have been rapidly ex- panding
for United outlet Kingdom manufactures and the Common Market as a whoic xw took two-fifths of Ghana's exporta.
Japin had increased in Importance as a major market for sotne raw materials, especially for Australian wool.
The Commonwealth
still market for two. provided fifths value of the exporta of its members. although the growth of this market had not kept pace with the expansion of Commonwealth trade as o
wealth's
A key barometer of ocono-whole, the report said.
The United States had taken mic activity showed an
of the Common- Improvement in March, one-fifth
in recent products the government reported
years and there was a tendency yesterday. The labour department said to take more. the average factory work-week increased by 12 minutes to 30.1
COMMON MARKET
The European Common Mar-
hours last month, continuing aj ket accounted for about 13 per last cent of Commonwealth exports rising trend that began
with five per cent January. It is still 30 minutes compared
taken by the continental mem- below the
Free bers of the European Trade Association.
however.
Jevel, your-ngo
13
economists
A longer werk-week regarded by any as a reliable sign that factories are stepping up production al will start hiring more workers
Wolfbeln. Dr Seymour Labour Department manpower expert, list these now Agures on the job picture in March:
coon.
A further five per cent of Commonwealth exports
Was
"these
many
taken by Japan, Chinn ond Eastern
and Europe have been
the most among rapidly expanding markets for a number of member countries."
ໂກ In
providing addition fresh
Common- outlets for wealth products, non- had Commonwealth countries Factory employment feil *
by 25,000 to 155 million also recently supplied Common-
wealth needs because of further cutbacks in
to an increasing
and factory extent. Japan cor machinery and
European countries were now fabricated metal industries,
compete strongly in The number of workers able to
markets for on non-farm
payrolls Commonwealth rose by 376,000, spurred by a manufactured goods.
Britain cupplied more than sharpor-than-usual increase in
of and one-fifth
the Common activity construction
Imports of manu- normal pick up in pro-Easter Market's
factured goods from outside tho trade hiring by retall stores.
market group and this was at a record level in 1900,--- Reuter.
Earnings of the average factory worker increased by 05 cents to $9071 a week in March but still 20 cents a week below the level of a year ago, -UPI.
Tyre layoffs
Chicopee, Mass., Apr. 12, US Rubber Company's Fisk tyre division here will lay eff about 60 per cent of the com- two pany's employees for weeks beginning April 17, plant employs workers.
The
Texas Gulf
of
Houston, Apt. 12.
earnings First-quarter Texas Gulf Producing Company fell to 28 cents per share from in the first a share 30 centy quarter of 1900, the chairman, Mr Gordon W. need, told the annual meeting.
However, Mr Reed sald, that 1901 carnings to 2,500 he expects about
Increase 15 to 20 per cent over 1000.
In answer to a shareholder's the profit out- question about look for the company's Libyan concession, he said he expects oil to begin flowing through the pipeline, "probably for sale Europe" some time between the end of 1902 and the end of 1983.
China Mall Special,
A plant spokesman said the cutback is being employment made because of reduced do- mand for tyres,
He sald there are indications of improved
the demand in automobile industry, and if he coming orders for tyres plek up, the layoff period, may be shortened. China Mali Special
P.O
ORIENT
LINES
EMBARKATION NOTICE
R.M.S. "CHUSAN”
la
EMBARKATION: The ship will be berthed at No. 1
SAILS:
BAGGAGE:
Plor, Kowloon Wharf. Passengers should embark between 2.00 pam. and 3.00 p.m. on Friday, 14th April, 1981.
Tho ship is expected to sail at.4.00 p.m. on Friday, 14th April, 1901.
Should be ment to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 Gato), Canton Road, between 8.00 a., and 6,00 p.m. on Thursday, 13th April, 1961.
BUBJECT TO CHANGE
Agents:
MACKINNON, MACKENZIE & CO. -
OF HONG KONG LTD.
Telephone: 85211/9
で
LONDON New York HONGKONG
STOCKS
EASE
Landon, Apr. 12.
market
New York, Apr. 12.
Profit-taking and buying Stocks ran into mild afternoon profit-taking
nox?
reluctance in advance of
Monday's budget
turned industrial stocks
Irregularly lower
today.
Demand still showed for
two-way
today, leaving prices casier at the final ball on reduced turnover.
Grumimao Aircraft Guir o
leyden Newport Corp.
The popular Indicators show-1 doodgear tyre. selected stocks but in the ed moderate declines while to-
most tal volume ran roughly a quer trading
ter million Blugres below lcadors fost ground.
Bigure. The yesterday's
tapes often were late in the Arat hour and Engineering equities
upward but motors, again at the close. moved textiles, electricals and stores
Hammond Organ
Hiram Walker
Homestake Mining Co.
Huamis Retri
IORNO POWer
Imperial O
mixed
specialities in the
Imperial Tebaceo Jagersoll-Rand
inand Sleel, C. Interchemical Corp.
drifted downward. Imperial Leading steels were Chemical lost email traction although despite news of big polythene group including Carpenter, Con- planta
for Eastern Europe. Unental, Vanadium and Fansteel 1 Business Machines
point-sized showed to 102s,
gaina. Unilever gave up 1/9 Vickers, Rolls-Royce and Wool Lukens was a big loser, off over
three points. worthe all edge lower.
Gold mining shares made a
spurt and notched wide late
Kains, modest spread...bui Western Holdings 1/3 better at 120s. Coppers firmed and tins advalice line, stayed on their --UPI.
Closing prices
Briush Government Securities 2 Consoldated-£4194.
Converziun- £35.
3. flavings 1033/03EP0-15/10. 2. Savings 1000/10-E10. 3, Bavings (05/15-71-9/10.
Overseas Bonda
German (Dawes)-201 Japanese, Assented-l
Tanks & Insurances
Imt'i rvester International Nickel International Paper
Int'l Tel & Tal Johns Manville Co, Kaiser Tajstries
than Kansas C Power & "Light"
Hennecot! Copper
Motors eased inte in the day. with ( down more paint after an anti-trust indie
Among the big ment.
Allied lost around chemicals, two, Du Pont and Kodak were neatly unchanged, and Union Carbide shod around 1%. Rails and utilities were mostly fractions.
Kimberly Clark
Liggest & Myers Tob Co Lily Tulip Litton Ind
Lockheed Aircraft Loews Incorp, ...... Le ter Cement Co. of Lorillard.
COMPETITION
the bluc Amoniz
chips, American Telephone lost over
Procter an: #point while Gamble gained roughly one, National Cash rose three on brokerage house recommenda
Union tions
while Westerns slipped over two after report. "Intensive benbard Barking Ord-21a Tid. Ing it was getting
the Bell competition" from System in the communications feld.
95%
Barclays Ord-7
0d.
Chartered Bant-dis dd,
Hongkong Bask-218.
Guardian Assurance-14 0.
Lloyds Bank-esa
olli
British Petroleum-009 5d. Burmah 01471.
Shell Transport Ord-100s Pd. Royal Dutch -£10-7/10.
Steels & Engstrering Babcock & Wilcox Ord-, 111⁄2d. Harland & Wolf Ord-Zs. Tube Investments-a2a od. United Steej-658. Vickers Ord.—33
34. Bleetrie
Assoc. Eler. Industries-45 3d, Elec. & Brus, industries-60s Ed. English Elecitic Ord-30s od. General Electric Ord-TI, Philips Lamp Work
Industrija
E12-7/10.
Arme. Brii, Pictured.
Boardian, Merden
Borax (Holding)-1
d.
Dunlop Rubber Ord.23 3d. Forestal Land-16.
Gilman (Holdings) Ord-de Bd. Hudson's Bay-EB.
Rediffusion Ord-103 10:44. Turner & News Ord-70 414d. Unileverstimia 4
Ord123.
Wiggin's Tease Ord8la Ud.
Westland
Chemicals Unberisi Chemical Ord-72a Jd. Monsanto Chemiesla Ord-25a.
Paper
HOWALON 28 Jel
Ord-50 Od.
De La Rue
Tobaccon BHlish-Amer. Tol, Ord-60 td. Carreras "B" Urd~~$$ 4! imperial Tobacco Ord 670 Del.
Motors
Trish Motor Ord-1_4150. Hawker Siddeley Ord-30 Cu. Jams Cars Ord-959 748. Rolls-Royce Or478 kt. Standard-Triumph—12a sd..
Texules
Calleo Printers Ond-101 d. Cunt (J. P.) Ord-501 ed. Courtaulds Ord-44 d. Fine Spinners Ord--20 6. Lancashire Colton Ord-025 7158. BLOCKS
Great Universal Ord-Das. Moss Empires Ord-15% 30. Tale & Lyle Ord-8]n 'Dd. Woolworth (W.) Ord--BR 04. Ascellaneous nowmaker Ord-20s $150. Canadian Preifte Ord-44394. me. With Ord-400 Bit. Hongkong & China Ods-159, Indo-China Def. Ord-1. 1 and Securites Ord-20s. P. & O. 6lcam Nur.
Stoll Theatres-ins Tlad.
Detren
De Beers Del-1308.
Def.-453
London in Corp,-16s 3. Petaling Tin.
Rio Tinto Bearer)-7/30. Roan Antelope Copper-la TILA. Union Corporation-45.
Welkom Gold Mining-13 Western Holdings-120%, Rubbery & Tens
G.
Anglo Indonesi Plant. Od. Ceylan Tea Oti-290 94. Imperial Tea Ord–189. Kuala Lumpur-Kepong-30 03. Lambak Rubber-329 330.
-Reuter.
UNIT TRUSTS
First Hongkong
Fund,
Today's volume was 4,670,- 000 shares.
Of a total 1,30€ shares traged 421 were higher and 079 lower. American exchange volume was 3,100,000 shares.
Bontis volumo
$0,370,000,
Daw-Jones.
were:
30 Industrials
|
amounted to
Lowenstein & Bons. McDarmolt J. Ray McDonnell Afreraft Morik
Mesabi Iron Corp.
Minnesota Mining
Milion Development Monsanto Chemical Co. Montecatini
STOCK EXCHANGE
Our Own Corralondaeda
Businere done at the Hond kong
this Stuck Exchange
to morning
op- amounted proximately $4,400,000. Noon quotailons and the morning's transactions:
abares Buyers Bellezz Katus
Hi Dank.. 420 432 50 420
50+ 428
00:00 21.30
500 6 20 5000+ £1.40 100 11
15.30 13,40
50 430
250 60 439
.10 ) 430
30 + 428
4134
Dk. . Asto 224 Wharf Co.
X.D.
121
Talkoo Dock $15 70
1000 10
591
K Gas.. 21.40 2115
1122 081
BIL
Wheelock ..
15.40 253 C000
2000
4000
15
1000 15.40
HK Dock T.
113
2 C, Provident 20,10 10.40 2187
5:00
$316
170
Ik Hotel..
4016
17
1000
40 1000 <0
30
30P
4000 403
100 47
B01
12K Land..
7035
70
400 701
4334
200
454
1200 44 70
37
XK Land
3114
mt
6176
SA
243 a 5015
Montgomery Ward
Motorola Inc.
National Elecult Co.
National Casti Rez. "A" National Dairy Prod. National Lead
021
07
Youmett
95
HK Tram
National Steel Corp.
New York Central
| Noranda Mines Ltd.
Natok & Western Ry. North After. Aviation Noriliwest Airlines (Com.)
Oklahoma Nat. Gas
Olin Meihlessti
Que Elevators Owen-Bilinois Clam Oxford Piper Co. Pacifio Gas de Elec. Pan American Airways Paramount Pictures
Parke Darts Co.
Penn, Salt Co.
Penny J. C. Co.
Philip Mortia
Pitney BowER
Procter & Gamble Co. Pihurgh Plate Glass Portland, Gen. Déc.
closing averages Publicker, Industriez
Pullman
Pure Olt
Radio Corporation
600.16 Radio Corp. Pret
LANCASHIRE SAID
CONCERNED OVER HONGKONG ISSUE
London, Apr. 12. Lancashire's 1959-60 cotton boom has sub- sided and now dominating the industry is worry whether Hongkong will renew its agreement to limit coftan exports.
not
If the Colony refuses to re-this éld happen in the
and Indin autumn if the picture is new ond Pakistan follow sult, then the feviing in clearer by then." Britain's cotton stronghold is that a inrgo action of its indus- try will be wiped out,
The industrial editor of the Financial Times today theso points in a lengthy sur- vey of Britain's textile industry In the wake of the boom,
mado
The production decline had not been steep. Out- put had
descended from the summit to the plateau."
Many Lancashire codon men concede Hongkong has a case with its complaint that Britain bought big cotton cloth supplies from non-Com-
wealth countries when lost year's shortage developed.
Some would prefer to see the voluntary agree- ment replaced by overall im- F10 100 @ 177 port quotas. This would pre
vent 400 1.10
supplier overseas benefitting at the expense £57.50
others, but whether the govern-
accept ment could
this "another matter."
. - អ៊
400
1500
******! &****૬=૩૬* સુ
1023/
TH
Ch. Light
3032 2016
1500
$300
HX Elec
301%
27
500
1500
1000 #
132 303
İrk Tell..
40 40 1600 61 439%
325 40
200 * 487
$500
G.I. Cement
600 LP
30 30 14 1000
03 Stocks
220.50
Reynolds Metal
Reynolds Tobacco
40 Bonda
B0.14
toyal Bank of Canada
70
Watson XD Allied Inv.
11.00 11.7
Comun
future
price
Royal Dutch
4000 2000
11.60
Index
144.11
Rheem Mfg.
1073
Textile
Sears, Floobuck & Co.
09
Nanyang
Shell Oll Co.
43
Seloway Blores
491
Amal Hubber
XD
7.05 7.16
Saint Iteg. Paper
10000 7.10
Rub. Trust
0.10 0.15
.....
f7.10
1000++ 8,15 2000 8.10
City Hotel
3014
20 Ralla
10 Uulities
Closing prices
Abhibi Pwr. & Paper
Alden Ine. Acy... Algoma Steel Corp.
Allied Chemicals
Allled Mils Inc.
Allis Chalmers
Am. Brake Shoe
Am. Gas & Electile
142.93 Raytheon ....
122.11 Republic Steel
$39
39
Schenley Inc.
Seat Paper
034 Serier Corp.
Sinclair Di
50% Smith, Kline & French
$2
Sony Mobil Oil
2816 South Puerto Rico Bugar
5336 Southern 'Co. (The)
2136 Southern Natural Gas
Southern Pacific Co.
Southern Railway (Com.) Sperry Rand
6012 Standard Brands
American Airline
American Cable & Radio Corp.
American Cyanamid Co.
47
Amer, Furgh Power
10
2174
1102
16
23
Am. Home Prod.
Am. Mach. & Fdry.
American Metal Am. Natural Gas American Smetung A. Sugar Ret...... American Tei & Tel American Teb. Ampex
Anaconda Copper Anteo Sicel
Armout
Aabestos Corp, Allas Conn. Mining 13aein-Lima-Ham. Battimere, & Ohio Bank of Montreal
B. C. Tel, Co.
Ban Telephone
Beneficial Finance
Standard Oil of Cal.
Standard Oll of Ind.
2015 | Standard Oll of NJ.
Steel Co. of Canade
6031 Steep lock
Blerling Drug Co.
1271 Stokely-Van Camp.
60% Stone & Webster
231tudebaker-Packard Corp.
BT
Sunshine Mining
731 Swift
44
Texas Co.
Co.
261% Textron inc.
031
104 Tide Wafer Oil
404% Union Carbide
Thiokol Chem.
3314
Time Inc.
60
Traders Finance
Bank of Nova Scotia
74
Travelers Inc.
Berch Life Savers
50-1
Tri-Cont. Warrants
4022 Twentieth Century Fox Flim
Union Q of ca.
Hendix Aviation Corp.
25
Union Pseine Reiwsy
United Aircraft
Benguet Cofa.
11
404 United Fruit_ ....
AN
United Cas Corp.
G4
US. Gynam
U.S. Line Co.
351 V. Elabber
32
U.S. Besetting
MUS
US Steel C. P.F.
Bellehem Steel
Boeing Airplane Borden (The) Co..... Burrough Add Machine Dritish Amer. Oil.... British Columble Elec.
British Columbia Pwr. Callt, Packing Corp. Caba. Bk. of Comm. Cana Brewers
Campbell Boup Co.
Canadian Pacific R.
Care (J. X.) Co.
Cat. Tractor
Celanese Corp,
C. 1. T. Financial Corp.
ex Chase Manhat. Dank
dividend: 01.31 (buyer), $1.39 Chityster Mators
(seller).
Clutt Pasbody
Second Hongkong Fund: Bambian oliva Co.
cents (buyer), $1 (seller),
AMERICAN-
STOCKS & COMMODITIES
WHEN BELL
WHEN
Diy
TECHNICAL
ANALYSIS
On Stock Trends
Konekrom - DIJA,
PERENNIAL
TRADING CORP.
| STR-DIV. BERAMSTER TOLLÉG
Carbon Co.
Commercial Credit Corning Clines Worki Consolidated Edison Consolidated_Paper
Consumers Gas
Creole Pol
US. Staci 7
4015 Wamer, Bros,
05 Waukesha Motors イケ
Westinghours Air Brake
Westinghouse Electric
243% | Western Union Tel. Co
12
6042
1072
18%
Continental Cal
40
Continental Oil of Del.
Crane Co.....
rat
Crown Zelletber
Cuban Amer. Bugar
1012
Delaware & Hudson Co.
Diamond Alkall
Diamond Nat'i
tliére-Basafarin Deminion Stores Douglas Alretan Dow Chemilent Dupont de Ziemours Kariera Air Ling
Letinan Kodak
El Paso Natural Gas Family Finoce Corp. Ferro Corp.
Firexion Tyte #1 Rubber rims. Nat. City Bank
Ford Moto
Cralines Pre Or
Ceorgia Pacino General Kleaseið
General Motora
Gen. Pere
Philber
West Va. Pulp & Paper
Whin-Mixie Stores
Woolworth (K. W.)
Zenith Radio ....
Star Ferry.
Mode
A04
14.40
4.02
*
Int'l Inv
TIK & FR
Imw. Gitman
HK Rope Burala Tilinphreys
L., Craw Asia Nov, Sincero Vibro......... Kbientan
15.00
опс
ok
was
UNCERTAINTIES Uncertainties over Hong-
kong's future moves has caused the re-equipment stage of the industry's reorganisation to lag behind.
While uncertainty has not mado a major impact on demand for Lancashire cotton, i
NEW YORK
COTTON MARKET
Shortage of workers still bothers the industry and uncertainly
the future hampers Tecrüliment of young
workers.
over
of
The newspaper's conclusion was that although the best the cotton boom is over, Lan- cashire could find a basis of stability at the present level of business "but only if a settle- meni with Hongkong reached which rectores idence and enables re-equip ment to go ahead."--UPI.
فا
coni-
JAPANESE EXPORTS UP
IN MARCH
Tokyo, Apr. 12 Japan's exports during the month of March, totalling US$366,464,000, increased by 9.9 per cent US$38,099,000 over previous
or
the
the month,
Japanese Ministry Trade announced in official bulletin.
of
its
The increased exports in the wwas attributed by the month Ministry mainly to a marked riso in the export shipments of fats and oils, especially whale Dil
These figures were based upon the bank certifications of export declarations received by the Ministry.
Exports during the 1980-81 financial year (April-March),
totalling presented
Now York, Apr. 12.
US$4,145,100,000, - Cotton futures today ro.
of 15.1 an increase mained on lower levels per cent from US$3,000,171,000 for the second scision in the previous financial year, in a row, although over the Ministry said.
Satisfactory
of the all activity remained very Japanese export trade was noted much on the quiet side...in most sectors except wooden
which declined
growth
by Closing prices established the products, lowest for the day, showing net more than 20 per cent because of the deterioration in the ex- fosses of five to 13 points. The pors shipments of plywood to market opened nino lower to the United States as a result of sharp decline in price, the Ministry added.
seven points higher. New Orleans closed off 3 to 13 points. Scoltered trade selling in the spot May delivery joined with 0314 light liquidation In
mainder of the lot to keep buy
3214
30
ing interest subdued.
the TC-
Spot house operations, pri- marily involved switching opera-
д
Thanks to
brisk whale oil exports, those of fats and olig over the previous year. tripled The United States the largest
remained
market importing
Japanese goods worth US$1.905,- 242,000 during
tha
year, but the figure chowed a decline of US$31,188,000
PIC-
vious year.
from the Exports to India,
Indonesia and Australia, par-
61 27
30
GO 30
lond, buying May and
Jater coleg of Against months, to transfer hetigo pozi-
July
The
vio
3015
tions forward,
60 6 3011
900 384
Trading in the October, 1932 contract
200 3042
100 202
TO LA 200 500 € 14.30 2190 2500 21.79 4.00 5000 ) 4,025 3000 L 425 2010 1000 20
450 5000 € 4.10
20.30
2.00
will start
and
cularly stool producis tomorrow, texilles, increased during the
considerablo Interest centred on past year, the Ministry said.
the probable price level | which it would appear. month will be the first, for the
That
1982 stop season and for that reason is expected to be extra sensitive to any developments relative to the future govern- ment support programme.
China Mall Special.
Exchange rates
Busindia was done. In the local unofficial exchange market Unila morning at the following rates:
003
at
UB. dollar (ber $1) Sterling notes (pet. £1) jun 10.03
8.11
28.09
The ceruicated stock today rose to another new high 70,782 bales, plus 6,548 bales Lawalung Inspection.-UPI.
Australian notes (per 411 Indeneden Rupiah (per 2007 Siam icals (per 100) Bingapore (Straits)
COMMODITY PRICES
SUGAR
NEW YORK Closing prices, all in cents
Magnavox Coe b
expectations
Fortwayne, Ind Apr. 12.
Net income of the - MagnLVOX | Company in 1900 rose. to a 674% record 43,533,000, 40 per cent atave the $4,070,458 varnes the
45
02 previous year, Mr Frank Fra}< mann, president, announced to- day, Earnings per share increas- ed from $1.99 to $2.78.
K
July
33.50
35.38
NEW ORLEANS
Closing prices all in centa
BES 383.
VETALS
NEW YORK
per lb.
July
Dec.
Mar. Bday
Closing prices 'all'in oenix per
lb.:
Lond
Contract No. § (world)
BAO PAULO
MAY
May
July
213-14 3:09
intr
Oel.
300
Closing prices all in cruzairu
Liho
Mar.
per kilo: unquoted.
May
May
3.13
Average price is 0.8. at 14 designated spot trieriete: 31.31 centa.
Tutul sabre: 0,710 Lulen.
July
Copper
May
.... July
UPL
Spot-Work Avataga), 303 Tahi Jalem: 34 contracle. Open Interval: 1,100 contraola, Contests No. 7. (doméstië),
May
Boot.
4.30-21 Apel-(Butka (uty paid) 0.83 TOHI Baite: To contracts. Opm interest) 3200 contragte,
Bales volume rose to $124,- 879,063 a 10 per cent eine over the 1959 total of $107,708,070.
Increases in sales and are Ings were reported by both the 3|| television and. high fidelity radio-photograph division and the government, and intuitate) electronics dreision. The largent gain whe trade by the electronics per but divisions with 4 sales incremes of 35 per cent. Mamavox, said:19 expreted further sales în miết knih varnings in 1911-CHING
OTTON
NEW
|_ RUBBER
LONDON
· Closing prices all in pinco per. ilb.:
„Hestieinant, heuse setu
Ape/Forw
May
In conta
ADD
Revita drept thin
1042 10.50
19.05
FOREIGN
ACHEANGE
LONDON
Closing rates. New York
Ametertain
pe
3/10
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