1961-05-03 — Page 2

THE CHINA MAIL, WEDNESDAY, MAY 3, 1961.

Wall Street advances

COMMODITY PRICES

RUBBER

NEW YORK

Rubber futures closing prices,

No. 1 May

June

No. 2 May

No. 3 May

No. 4 May

0272-02

1/21-03 11-03

01 01

LIVERPOOL

Closing prices all in pence per

American Contract

b.:

07-05

Spot rubber unbated

01-0314

lanket crep

73%-74%

May July

N. 1 pale crepr

022-00

Uct.

LONDON

Dec

all in cents per lb.

Closing prices all in pence per

Mar.

REX

Standard

Tb.:

May

May

32.00

12.12

No. 1 mot

27-271

Mixed Contract

Jule

32.10

32.30

Settlement house term:

May

22.10

3132

Sept

Julie..

27-211%

July

Nov

37.00

31.00

Apr/June

(Ft.

31.75

31.53

411-

July/Sept.

279-2714

Dec.

11.53

Mar.

Oct/Dec.

2736-2712

General markets, c.lf, basis, porin

Mar. May

SINGAPORE

J

July

26th-27 204-27

Clising prices

all in Straits

Estato crepe

tents per put

ib. Lob.

Maleyun

Sun May

trick May

201

WHIIN SELL

TECHNICAL

WHEN BUY

ANALYSIS

AMSTERDAM

Closing prices all in gullders

per kilogram, cl, May:

No. 1 rubber

No. 2 rubber

No. a rubber

No.

crepe

24.20

aaaaa á

BRBROR #8820

METALS

NEW YORK

Closing prices all u cents per

2.48 buyers

2.40 buyerS

2.43 Вкуств

2.62 buyers per

-UPI

Lead May

July

Zinc

May

July

Copper May

July

COTTON

NEW YORK

Closing prices at in. cents per

lb.:

Spot

May

July

May

On Stock Trends

Def.

Research Dept. PERENNIAL

TRADING CORP.

$14-018 Edinburgh Houze

Tel: 24046, 38384

NEW ORLEANS

Closing prices all in cents per

10.32

10.43

11.30

70.84

20.63

on rising volume

New York, May 2.

LONDON SELLERS

MARKET

London, May 2. Sellers got the upper hand

in fairly large two-way trading today. Unsettled conditions helped pro- duce o rash of small fallz but stools wont against the trend and registered modest gains,

to hold off Buyers Inclined

and the news of a smaller fail

In the country's gold reserves visible month made

Tast

no

Blue chip industrials, roils, drugs and special situations led a fairly broad market advance on rising volume today,

impact. Engineering shares. Improving business news was credited with the cicctrical equipment, motors

gains, especially those producing a strong and breweries steel section that responded to an 11-month lost early on. Recently boom- production record. Unemployment also drop-ing property stocks suffered a hed in April while the number of jobholders back. increased, it was reported.

Among the Movers Woo

Diamond Net'i

strong upward Creole Pet

U.S

Steel, Amerace. Bristol-Myers, Po- larold,

Kerr-Mcghee,

Lion, Standard Kollaman, Sperry Rarki, American Telephone, Colgote, American Chicle, Westinghouse, Proctor unci Gamble, General Foods AJKI Ford Motor.

The

LONDON Closing prices, all in sterling per long ton.:

the Buyers Sellers

ཅན་ཏུ

B47

23514

داقة

SUGAR

Duw-Jones ilustrini average scored a healthy gain with Allied Chemical one of

Industrial

wen't spots. Activity ran several hundred thousand shares above yester-

clay's pace.

Today's volume was 4,110,000 330 shares.

Of a total 1,303 shares traded,

051 were higher and 400 lower.

American exchange

volume

NEW YORK

Closing prices, all in cents per

$3,110,000.

Closing prices

Abitibi PWT. & Papier

Alden Inc. Acy.

Alguma Steel Corp.

Allied Chemicals

Allied Mill Inc.

Allis Chalmers

Am. Brake Slice

Mar,

S-World Average 3.25

P&O

ORIENT

Mary

LINES

Total Sales: It contracta. Open Interest; 1.110 contracts, Contract No. 7 (domestic) July Sept.

SAILS:

American Metal

Anaconda Copper

Asbestos Corp. Baldwin-Lima-Ham. Baltimore & Ohio Bank of Montreal Bank of Nova Scotla Beech Life Savera

DC. Tel. Co.

Bell Telephone

Distillers-Songtuans Dominion Storer Douglas Aircraft Dow Chemical

Dupont de Nemours Eaketa Air Lino

Eastman Kodak

Gatineau Power Georgia Pacifie

General Dynamics

Electrte General Foots

General

General Motore

International Paper

int Tel & Tel

all cased tut stores regained some ground

setback and cotton textlies FAT

Many lending stocks showed fractional losses, including Lancashire colton, Unilever. Royce, Dunion and

But notched & pence

to 40/10% while Imperial Chemical Armed, with Woolworth, Vlekera and British American

Tobagen,

NSPORTATIO

Big shipbreaking business planned in Singapore

By Gregory Wong

Singapore (By Airmail).. Courtoulds Although Hongkong is way ahead of Singapore in the shipbreaking business because the Colony is able to pay a higher price for ships, a local firm is planning to float a company to do ship- breaking on a large scalo here.

Philips Lamps were a firm shot at 252/0,

Government bonds lost ground nfler

opening. a firm Dollar stocks

made a mixed showing, sleets were on higher ground while oils were dull,

Golds continued their drift but some Anence houses eked

out small gains. Coppers slayed quiet and tins were irregular, Oils were erratic and wore mixed look by the Anni Bell with Shell, Royal Dutch and British Petroleum ench a shade

was little doing, In

rubbers and teas-UPI.

Closing prices

Brush Government Securities

974, Consolidated-£425, 367 Conversion––– £66-9/16. 3. Savings 1035/03–202-3/10. 3 Savings 196/10-£ 79-5/10. Savinga 1965/15~£72-5/18.

Overseas rond#

5. German (Dawe)-£NK 11. Japanese, Astented- £1NG.

Útanke & Insurances Barclays.Ord-Bus d

Chartered Bank-014. Grazdinn Assurance-1408 30. Hongkong Bank—£ 19. Lloyds Bank-345 34. Lombard Banking Ord.--236 Iļje. Prudential Assur, "A"-£26-2716.

0114

Tiritiri Pekolvun-168.

Burmalı Oli-425 84.

Royal Dutch-£169.

Ulimar Company-388 Uad.

Steels & Engineering Habeck & Wilcox Ord--33 d. Guest. Kven Ord-182h 3d. Havland & Wolf Ord-18% pa Stewarts & Lloyds Ord—57) dil. Tube Investtuents=815 öd United Steel 60s Bd. Vicken Ord-36.

Electele

ין

Sim Lim Company Limited, and other countries, but onco a leading Singapore Arm, and the new steel mill was up, the their assoclates plan to make the spokesman said that i was Industry as big as Hongkong's hoped that his company would in a few years. The scrap iron be crapping enough ships to will be supplied to the proposed feed the local steel industry.

steel and iron M$600 million

Nutions A six-man United milt to be set up in the state. iron and steel mission has been

be

A spokesman of the company said that if the venture was to sticcessful. the Singapore Covernment must give the pro- Ject not only Its blessings but its full support.

12 SHIPS A YEAR

Representatives of the firm have already had a number of meetings with Government ofl- cials.

studying whether any of the three Government proposals to set up an iron and steel mill here are feasible.

After a preliminary study of the mill proposal last July, the UN team has returned to come In "sono defirdly conclusions about the project."

Mr P. L. Schereschewzky, the leader of the team, said there were "enough signs to encour age a thorough study" of the

The company's spokesman said project. that Singapore's geographical location and its harbour facili- ties would make it possible for the country to rival Hongkong in industrialisation in a number of years.

PROPOSALS

Regarding competition from Hongkong, Japan and Australia In the event of the mill being established In Singapore, Mr At the moment, Hongkong Schere chewsky sald:

"I made breaking up about 50 ships,

of tha a tour

neighbouring totalling 500.000 tons annually. It started, he said, with a few

countries, and it has given mo a clear picture of what they dre doing as well as how they are tacking certain problems" The spokesman said that the The three proposals under company hoped to break 12 į study are:

ships a year about nine years

ago.

3512

Стапе Со

0214

Rulla

Crown Zelierbach Cuban Ainer, Sugar Delaware & Hudson C. Diamond Alkall

Bowater.

10%

1015

0414

4315

40

7115

20013

27

114"

El Paso Natural Gas Family Fance Corp

20

39%

4516

Ferro Copa

Firstore Tyre & Tubizer Pirat Nat. City Bank

OAR

3514

ΤΙΠ

Ford Motor

041

13

Capper,

33.00 nom

spoi

mia?

22,74

itrott

7037

23.30

Lead,

4/1

31.00

Spot

073%

0755

2453

3-mth

07!*

6742

Gen. Pub. 1521.

20

34.50

Zinc.

Gen. Tel. & Elec.

201

Spot

23%

Gen. Tyre & Rubber

GO!

higher.

J-morti

0312

81

-UPI.

was 3,200,000 shares.

Bonds volume

Gelly O...

17,4

There

amounted to

Glidden Co. ..............

Mis

Goodrich (B, F) Co.

544

Jb.:

Goodyear Tyro

301

Spot

32.40

Great Northern Ballway

Miny

32.54

Grumman Aircraft

31%

July

33.33

Gulf Ol...............

401xd

34.19

Hammond Organ

37

Dec.

DMCA

7545

| ileyden Newport Corp.

20%

Mar

34 AT

39

Hiram Walker

50

May

35.49

509

Homestake Minina Co.

{

49%

Husman Refrig.

10

25

Tlaho Power

01%

1b.:

443

Imperial Oil

463%

Contrael No. 8 (world)

American Airline

21

Imperial Tobacco

1312

July

3,20

Am Cable & Radio

a

American Cyanamid Co.

Ingersoll-Rand

79

45%

Onl

3.10

Inland Steal Co

457%

Amer. & Forgn. Power

1014

3.15

3.14

Am. Gas & Electric Am. Home Prod.

Interchemical Corp.

4132

In Business Bfachines

203

Int

Harvester

$21

Am. Mach. & Fdry,

International Nickel

75

122

Ain. Natural Gea

American Sinelting

Api. Sugar Ref American Tel & Tel

Johns-Martville Ca

6513

Shc Transport Ord-1631

Kaiser Industries

Aundrian Tob.

Kansas C. Power & Light

022

Ampex

6

Kennecott Copper

01

Kimberly Clark .....

05

*}}>T

Ameo Stee! Amour

3

Ligeti & Myers Tob. Co.

91372

6

LUV Tulp

52

Ilion Inc.

130

Lockheed Alteraft

41

50%

Loews Incorp.

201

Lane Star Cement

01

7311

Loritari P. ...................

Lowenstein & Seme.

4 McDermott J. Ray

40%

McDonnell Aircraft

Eeneficial Finance

Merck ...

Bendix Aviation Corp.

64

Membi Iron Corp.

117

Benguet Cons.

Minnesota Mining

Bethlehem Steel

30

Mission Development

Boring Airplane

Monsanto Chemical Co.

459

101-3/18

Borden (The) Co,

61

Montecatiol

57

2.7935

Burroughs Add Machine

3414

4.7830

Dritish Amer. Oil

Montgomery Ward

Dunlop Hubber s

30

Gülman (Holdings) Ord.—-69

would

347%

Motornia Inc.

MP

Turner & Newail Ord.—75# 10jad.

2.2465

British Columbia Par.

National Biscuit Co.

200

Unilever Ord-1599 Jd.

2.7845

Cll Packing Corp.

471

Cana. 1rewers

National Cash Reg. "A"

04tá

Wiggins' Teape Dri-36

1d.

481

Campbell Scary Co. Canndien Paelic R.

National Dairy Prod.

151

National Leaf

DB

242%

National Steel Corp,

да

New York Centrai

10

132

33 Noranda Minds Lic.

40

7015

Norfolk & Western Ry

110

GUES

North Amer, Aviation

40

4214

Northwest Airlines (Com.)

2

Okishama Nat. Gas

409%

Olin Mathieson

43

Sara

Otis Elevators

13

423%

Owen-lineia Glass

17014

Oxford Paper Co.

321%

Consolidated Paper Consumers GT

xd Pacific Gas & Elec. 413

773%

Pan American Airways

10

10%

Continental Can

Paraineunt Pictures

20

417%

-UPI.

Continental Of of Del.

Parke

Davis Co.

5012

Penny J. C. Co.

72%

Penn. Salt Co.

37

Philip Morris

73

Pitney Bowes

Procter & Gamble Co.

4012

Pittsburgh Plate Gloss

Co

Forland Gen. Elce,

Publicker Industries

381%

Pure Oll

Radio Corporation

603,

Radio Corp. Pref.

Haytheon

Republic Stect

8011

Reynolds Metal

4A1;

Reynolds Tobseco

1134

Royal Bank of Cortadə

707%

Royal Dutch

#2

Theem Mfg.

1914

Sears, Roebuck & Co.

Sheil Oli Co....

4314

Safeway Stores

47

Saint Ite. Paper

35x0

301%

Siegler Corp

F.

Sinclair Off"

250 of 3!

South, Kline, & French

Minex

1500

51

Socorty Moul on

47L

Do Bears D¢f...]230.

South Puerto Rico Bugar

£72

Southern Co. (The)

Peteling Tin-12: 30.

Southern Natural Gas

Rio Tinto (Beurer)-45s.

Southern Pacife Co.

232;

Southern Ballway (Com.)

Sperry Rand

2017

Standard Brands

Roan Antelope Copper Union Corporation--els 73. Welkom Gold Mining-12x D. Werter Holdings—113, vd

pd,

Standard Out of Cat.

EMBARKATION NOTICE

s.s. "ORCADES"

EMBARKATION: The ship will be berthed at No. 1

BAGGAGE:

Pier, South, Kowloon Wharf. Pas- sengers should embark between 9.30 n.m. and 11.00 a.m, on Friday, 5th: May, 1961.

The ship is expected to sail at NOON on Friday, 5th May, 1961.

Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2, Gate), Canton Road, between 8.00 a.m. und 5.00 p.m. on Thursday, 4th May, 1961.

SUBJECT TO CHANGE

Agents:

MACKINNON, MACKENZIE & CO. OF HONG KONG LTD.

Telephone: 35211/9

6.09 0.43 Spot-Bulk, duty paid) 6.35 Total Sales: 1 contracts. Open interent: 2,20 contracts.

TORDIGN EXCHANGE

NEW YORK

Closing intes:

Canada Entland official 30-day Autraliz New Zealand South Africa Offers unchanged.

LONDON Clusing rates: New York

Amsterdam BUKS Copenhagen Frankfurt Linin

Par Stockholm

Dhuntreal

an Vienna

Zurich

1.4000

2.7031⁄2-2.79- 2.70-2.75% 100419-10.04% 140.23-140.274 18.342-10.35 11.10-11.1013 00.10-60.20 20.00-20.01

Case 15. Li Co. Cat. Tractor Celanese Corp. CIT. Financial Corp. Chase Manhat. Bank Chryster Motors Cluett Peabods Colgate-Palmolive Co. Colombian Corben Co. Cummerclat Credit

Glass Works

13.00-13.00 Carminated Fairey

14.42-14,42% 173413-1735 72.87-72.90 12.091-12.101

HONGKONG STOCK

EXCHANGE

Our Own Correspondent.

+2

2004 37!

128 37%

P&O

ORIENT

LINES

Business done at the Hong- kong Stuck Exchange

this K Elec. inorning amounted to approxi- mately $4,600,000, Noon quotations

and

the morning's HR Tele. transactions:

371 372

300 31

U or 30

GOL

Sharex RK Bank

Buyers

Kellors

470

430

Salzu 330430

BOLS

480

412

SAILS:

BAGGAGE:

Ex. Dlv.

100 0 21

Pulimas

4000 37?

Schenley Inc.

61 4025 0015 Scnit Pipet

1000 $1

1200 Ft

21.09 21.00

B00

100 g 32 500 21.00

21.90 0.. Cement

2004

2300 21.00

Dairy Farm

2300 21.00 131% 10.00 0000 ## 22.00 0000 15.Co

EX. Div.

AK Dock

Ex. Div..

118 110 200 110 200119

Watson Allied Invest. Textile

40 4013 11 1420 1.30

31 3

200 30

1100

Nanyang

141

1000

313. A. Rubber.

110031

Rubber T.

4.00 7.90 3,03 2000 +

3500 31

200314%

City Hotel.. 33

EMBARKATION NOTICE

R.M.S. "CANTON"

EMBARKATION: The ship will be berthed at No. 1

E. Ásla Lombard Wharf Taikos Dock Ex, Div. .

BIKE Cas

Pler, North, Kowloon Wharf. Pas- vengers should embark between 2.30] p.m. and 4.00 p.m. on Friday, 5th wheelock . May, 1961.

The ship is expected to sail at Providen 5.00 p.m. on Friday, 5th May, 1961.

Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2) Hotel .. Gate), Canton Road, between 8.00 s.m. und 6.00 p.m. on Thursday, 4th May, 1901.

SUBJECT TO CHANGE

Agenta:

MACKINNON, MACKENZIE & CO. OF HONG KONG LTD.

Telephone: 36211/9....

7516 70 1600 @ 70

< 48% 2800 9 43

20000!?

14 40 001

060

JC Lond

Aripits

114 $2

330

Taumat

والان

23

40

Assoc, Mec. Industries-435 Dd.

lec, Mus. Industries-474 04. English Electric Ord--33s tid. General Electric Ord -30% 3. Philips Lamp Works-£32. Redinusion Ord.---44 lyd

Industriale

Assoc. Portland Cyment-04a Tlád, Burax fulding)- 20% p

Chemicals

Imperial Chemical Ord-79% 31, Monsanto Chernicule Ord-24: 10:40.

Bil

Paper

Bowater Papet Ord-61% 30.

De La Blue On-16) SJ.

Tobacces British-Amer. Tob.

Ord--69 90, Currerie "B" Ord=ką Ive. Gallaher Ord-473 71,9. timperial Tobacco Orl-Mi Tud.

Motor

British Motor Ord—17%, Hawker Siddeley Ord-30 €1. Jaguar Cars Ord-99 4150 Rolls-Royce Ocd-44__ 191⁄2d. Standard Triumph-135. Wetland Aircraft-1.

Textiles

Calica Printerer Ord-15% 10ýð Conta (JP) Paton & Baldwin-Ma

Catitauli Ord-463 101%d,

Fine Stinneto Ord-27% 1950. Lancashire Cotton Ord-623 4tjd. Breweries

Guinnem (Arthur) Ord-673 34. Ind Coupe Ord-21a 11⁄2d.

Biorts

Great Universal Ord-6254, Starks & Spencer "A

Ord-113s

Tate & Lyle Ord-54 91. Unlied Drapery Ord–739. Woolworth (F.W.) Oril.--6ta 04.

Miscellaneous

Bowmaker Ord-251 04. Canadian Pacile Oru-$455, Cunard Steamship Ora-17m 10140. Forestal Land & Timber-138 759. Hongkong & Chino Gas--137. Hudson Bay Co.---£0-15/10. Indo-China Det, Ord-239

Land Securities Ord-349.

▲ O. Steam Nav. Deton475

MI-45.

Rubbern &_ Teas

Anglo Indonesian Plan Ceylon Tea Ord-23a Od. Imperial Ten Ord-185 bd. Kuala Lumpur-Kepong-J× 1054, Lambak Stubber-5.

-Reuter.

Agreed merchant

rates

Canadian $. Maximum Belling, 17-1/32; Minimum Buybig. 17-0/31 T.T., 17-11/32 O.D.

300 7015

·5115

124 13 200 23

#715 0015

4300 rota

DOUG 00

3400 41 2120 or bi BOO B 20051 270007 3000 53 3000 63 300 A

ZOO 03

30301 1400 a 3914

BUY 19 2503312

1000 8.30 400978.35 14.00 2000 or 14.00

2000 2.03 1000 0

330 344

Standard Oil of Inet. Standard Oil of NJ,

Seel Ca, of Canada Steep Rock

Sterling Drug Co. Stokels-Van Camp. Stone Webster" Studebaker-Packard Corp. Bunshine Mining

Swift & Co. Texas Co. Textron Inc. Thjakol CMA, Tide Water Qlt Time Inc.***** Traders Finance Travelier Inc. Tri-Cont. Warrants

Twentious Century Fox Film -

2.43 15000 2.4

Union Oil of Cal 10000 2470 tinton Pacie Raliway 10000 2.45 United Aircraft 20000 7.478 Enited Frull

20000 2,43

20000 2.40

человек Сля Согр. UA. GypeUITI

Int'l Tnvest. 14% 14.20 1000 14.00 UR. Line Co.

4000 14.00 U.B. tubber K. & E.

U.. melting 1006 22.30 US Reel***** 10KM 221 US. Bteal 7 P.C, Pr 1800342.00 Wamer Bro. 430021

Inv. 2320 23.4D

2014

(salier).

TRIJS

S:cond Hongkong Fund; 00 cents (buyer), $1.03 (sellar),

2412

07 d

14:11

Exchange rates

900 139

AG

Ik Tram

30 391 400

A 3014

300 $301 Gilman

2000 20

Ch. Light

1000 * 23.20 4.023 4.870 24źki er 4.5 2000 1.70 2000 e 4.95 1000 os 4025

2014

Busiciens Was den is the locat 111 Melai exchange

Buerket

4

17

374 4100 # is igyneuro

080

1003735 lumphreys išau 20.30 500 3 29335

| Winn-Dixie Étoşan

Woolworth (W)

Zenith Redline

Westinghouse Electric Western Union Tei. Ca. West Va. Pulp & Taper ......

morning at the following rates:

V.. doller. (per si)

terling notes (per 41).

Ausicalino kotek (per

flans teal (per 100)

kahingapore, Clipaštu)

1)

Indunisia fupish (per 200)..

Waukesha Ziators...

1000 47 23.10 Wastinghouse Air Brake

DE AB

1000 41

tik Land..

400 9 401% Realty (Did) 2,425 700% 77- 200 781%

2006 TT

2G 32

DGS J

20 33

Union Carbide

1373X

40

UNIT TRUSTS

First Hongkong Fund,

ex

dividend: $1/32 (buyer) $1.40

hips a year for a start. They A large project with an all- had already nequired a site on i nual capacity of 500,000 tons or the Johore Straits where it is more. consisting of blast possible to break up four ships | furnaces producing ply from for simultaneously.

steel mills abroad?

For a start the scrap Fron

be

exported to Japan

Cargo

liner for

Leith Company

An order for a cargo liner of 13,100 tons dead- weight has boon placed by Currie Line Ltd., Leith, with Lithgows Ltd., Part Glasgow. Delivery will be made at the end of noxt year.

vi

The vessel will have an open shelter drcit deadweight around 11,300 tons. A compre- hensive outfit of cargo handling gear will include a heavy, derrick of 60 tons.

The machinery, to be Alted amldchips, will be supplied and installed by J. G. Kinerid and

Co Ad, Greenock, and will be of their turbo-charged poppet valve type Burmeister and Wain main engine, developing about 8,300 bap in continuous set- vice, giving a service speed of at least 18 knots.

Lithgows are at present build- ing an ore carrier for the Currie Line which will be delivered about the end-of-this year, She

13 vessel of 23,800 tona dead- weight powered by Harland nud Wolf-Burmeister and Wain main machinery manufactured und installed bý J, G. Klucaid and Co Ltd---LPS.

A short-term project capable of mere Immediate implementa- fun to meet local needs, con- sisting of a rolling mill and melting furnace with a capacity of 20,000 to 30.000 tons a your based on shipbreaking os a source of plate and serpp steel: andi.

A small integrated steel plant with an annual output of about 00,000 tons for local and re- glonal trade.

Swissair Convair jet

coming soon

Hongkong will see its first

Convair jet when it flies into Kai Tak in the colours of Swissair this

sommar.

The Convair 880-M, with o maximum cridging speed of 015 miles an hour, will be. put into service on Swimsir'n Far East- em mutes, through Hongkong, in mid-September.

Swistair will receive two of the 800-M's and they will con- tinue to operate these aircraft until they are replaced by the larger and faster Corvair 090, Corenados in early 1962,

The photo shows the 330-M, seating Ĝi economy. class and 20 in first class, with an earlier Convair aircraft the 440 Metropolitan - in the · Back- ground.

Swissair will serve India, Bangkok, Manilar, Hongkong and Tokyo with their new jets.

Swissair's Conválr 880-M Jef.