1961-06-08 — Page 2

t

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THE CHINA MAIL, THURSDAY, JUNE 8, 1961.

Wall Street stocks LONDON HONGKONG

decline

New York, June 7.

The stock market today continued its

lower trend on reduced turnover. Prices were easy for most of the day, but a final burst of selling put most groups firmly in the minus column. Some electronics, tobaccos and national defence stocks managed to go against the trend.

Working against higher prices today

were reports of Com- munist victorica in Lagu,

Zenith drapped more than six points in the electronles, Steet

lestes ran to more than two in Youngstown Sheet. Universal match dropped well over two, Magnavox

two,

und around Beekman more than three.

Not received

The

regular United Press stock prices from New York were #104 TC- veived this morning owing to faulty radio reception.

UK-Japan whaling

contract

man,

London, Juno 7.

|

Du Pont was a a dem spot in the blue chips but Eastman Kodak, Woolworth and other leaders silpped a point or so.

Ford, Chrysler and General Motors finished fractionally on the ups wing while Texas in- strumenta. Minnesota Mining. Addressograph, Schering, and Boeing were higher.

Dow-Jones Closing Averages

were:

30 Industrials

20 Rails

15 Utilities

05 Stock

700.80 of 2.93

143.88 of 0.34

114.33 or 0.18

232.93 off 0.74

MOST ACTIVE STOCKS

Ten most active stocks traded Kan the New York Stock Ex- "change, sales, closings and noti

changes, respectively.

104,800 Am Visease 55% of 34.

57,200 Gen Motors 45 up k 57,000 Raytheon 41% ep 1%. 56,200 Brunswick 54 off 2%. 53,200 Aveo Corp 20h.

40,700 Sperry Rind 20% off 13%

38,200 Gen Tel and Tel 26% off 1⁄4.

37,200 Revlon 58% off 4%. 30,200 Westinghouse Elec 45%

33,000 Outboard of 3⁄4-UPI.

A British government spokes-up

declined comment today on a Tokyo report that negotiations for pur- chasing the British whaling factory ship Southern Ven- turor now centrad round the question of how much of the British national quota for Antarctic whal- ing should go with the ship.

"The proposal formulated at the whaling talks last month is still being considered by gov- crnments," said a spokesman of the Agriculture and Fisheries

Ministry.

"No decision about the quotas has been taken yet, so we can- not comment this report."

But spokesman for the managers of the Southern Ven- turer, Salvesen and Company of Leith, Scotland, confirmed that

a provisional contract had been

signed with the Japanese com- Pany, Taiyo Gyogyd Kalsha.

He added, however, that the

question of the quota was a mat-

ter for the two governments.

It was understood that a pro- | portion of the national whaling

quota would normally go with ship when it was transferred from one country to another. China Mail Special.

Marine 20%

Brilliant student

Diarlia G. Patadia (centro) of Masaka,

Uganda, who

has completed a 5-yeur automobile course in 18 months at the Chelsea College of Aeronautical and Automobile En- gineering in London, pictured at work on a diesel englac at the College. His fellow student on the left is Peter Haward and the Instructor is Mr S. G. Wallace. Patadia was award- ed the Full Technological Certificate of the City and Gulls of London Institute la Automobile Engineering Pracilee.

Sir Roy sees_great

in new

prospects

trading_pact

(Alexander Thomson's business news comes from the top. Here he talks to the chief of

mighty Hawker Siddeley about developments in that concern.)

By Alexander Thomson

London, June 7,

Sir Roy Dobson, the Hawker Siddeley chief, is the youngest

69-year-old I know in the world of very big business. Just back from a sailing holiday with his son at Antibes in the south of

France he looks 10 years younger than he really is.

with the

I ract him today for a 30- Cominon Market. whether Bri-, freighters and the P-1127 re- minute

Hawker's trading pict

talk,

newtain joins this trading; bloe of six search aeroplane which has Wollt Hroup of Calogne was the

Otto European countries or not.

world lead in the probing theory of vertical take-ofl. main tople.

"It has great possibilition" he declared hope it will forin for others in

Rise expected in the saltem

U.S. tobacco exports to Japan

The Otto Wolft concern is not all that well known in Britain, But it is one of the largest steel and engineering enterprises Western Germany.

21

in

ES

in size it is said to rank number three there after Krupp Washington, June 7. The Agriculture Department and Thyssen-Huelle giants,

Said Sir Roy: "We have been said today consumption building up friendship ter trends indicate U.S. to- some Lime. Now it has bacco axports may in-crystallised into this new agree crcaso to Japan, tho

"I believe the arrangements fourth largest market for

we

making are

will be U.S. tobacco in 1960.

particularly important to the "Japan, largest lenf Importer industrial side of our netivities." fu Asia, has increased its pur-

chases of U.S.

tobacco every

ment.

OPPORTUNITIES

| year since 1957, and its imports

during 1901 are expected to be He carefully Alled and flt n sharply higher than last year," well-smoked pipe and rattled off

of some examples the Department sald,

where the The report Guid Japan's new opportunities for both sides shnual cigarette consumption lay.

growth of eight per cent is He explained: "Otto Wolf are

big people all the way up from production of basic steel.

almost double the rate of gain for the rest of the world,

Among the reasons cited for

"In their engineering side for instance they have great ex- an encouraging outlook for US. lobaero exporters

con-perience in oil and water drill- were sumer preference, increased per ing equipment. They also make capita consumption and a rising lot of contractors plant like population-UPI.

RETURN FLIGHT

London, June 7,

A Japan Air Lines DC-8 left London for Tokyu today on the return inaugural Bight of the strline's twice weedy service between the two capliais,

concrete mixers and so on,

"A lot of that kind of stuЛ is powered by diesel engines which

the diesel opens chances for side of out business."

Sir Roy, a chunky

Sald Sir Roy: "We And not being a member of the Six is a big disadvantage. They look on us as outsiders now."

How is the merger working eut? "Very well" said Sir Roy He gave an example. The Dobron. "There have been prob- lems of course. But they are has been negotiating to sell a number of aircraft to one nearly alt sorted out."

group

Including the big

of the smaller French airlines. The group's aircraft sales for "The French company wants the 17 months to December 31, them'', he said, "but the pres- the confided were around £200 sure put on it to buy inside the million.

Six is unbelievable.”

Industrial It is 16 months since Britain's side of the bwiness total cales aircraft industry was merged for the period were nearly £460 into three big units.

į million. Hawker Siddeley played n How does that compare with leading part by taking over the the previous year? "Impossible De Havilland, Blackburn and to say because of the new busi- Folland companies.

tesses acquired and change in In aircraft it now ranges from the recounting period," explain- Comet Airlinere and Vulcaned Sir Roy. London

alom

bonderu

to Argosy Service,

Express

COMMODITY PRICES

COTTON

SAO PAULO (Closing prices all in cruzeira per kilo).

Average palco in US, at 34 de

pignated spot markets: $2.13 cents.

Fotal sales: 12,240 bales.

LIVERPOOL Closing prices all in pence per

Blanket NYO

71-1 2012-0135

No, 1 pale crepe pug

LONDON Closing prices all in pence per !b.:

No. 1 in spot

Bettlement house ferm

July/Sept,

Ort./Dec.

Jan./Mar.

Apr./Juno

23-25

Julent markets, elf, bass, parin

Juno

July

Estate crepe ihin June

thick JunD

AMSTERDAM

2

Closing prices all in guilders

lb..

American Contract

Yorks

shireman, who built

Lan

Jitly Oct.

23.03

per kilogram cit.

24.00

Na, 1 rubler

castér bombers in the war. went on as if he were thinking aloud.

Tec.

24.30

No. 2 rubber

No. 3 rubber

MAT.

May

24.05

No. 1 rejo

July

21.00

Mixed Contract

July Oct.

24.30-

24.45

Dec.

24.0

Mars

23.03

Max

July

25.33

-UPI.

"Between us", hej zaidi, "we should be able to build com- plete power stations. We could supply generating plant and They could do switchgear. steam-raising equipment and *building.

"Then there are possibiles

The guests of the fight via Paris ad Copenhagen over the Pole to Anchorage, Alaska, were Geoffroy Rippon, Parliamentary Secretary to the Ministry of in package deals for railway

Capt. Aviation, ani

G. R renewals in different Chetwynd, Labour M. P. for Wolft produces railway lines Stock lon and the opposition a big way. We build diesel Apokesmin on Civil Aviation locomotives." matters.-UPL

UNIT TRUSTS

First Hongkong Fund: $1.31 (buyer), $1.3$ (æller),

Becond Hongkong Fund: cents (buyer), $1.01 (seller).

countries.

Already Hawker has a man in Cologne while Wold has an ex- pert on attachment” herch

RUBBER

BİNGAPONë

2.30 buyers

2.20 buyers 2.27 buyert 2.00 buyers

-UNI

FOREIGN EXCHANGE

LONDON

Closing rates

New York Montreal

Amsterdam

33rumen Copenhagen Closing prices all in Straits Frankfurt

1.0.b. At either end the possibilitiescents per lb.

Malayan Lisbon are being explored for the two ports:

AN-031 Hickam Path... (groups to manufacture some of (each other's products.

So

Hawker Siddeley should galo a significant fooling in the

3. 1 June July

IN. 1 June

Dato

Milan

No. 3 June

Vienna

No. 4 June Spat rubber unbaled'

Zurich

53-0311

2.70-2.79% 2.7636-2.7345 10.08-16.0231⁄2 139.30-130. 10.326-19.335 11.0796-11,071 50,10-09.20 49.00 179-19.0916

12.0716-13.073%

273254-177 72.03-12-07

12.00-20.00

-U

Tho

STOCKS GAIN

London, June 7,

STOCK EXCHANGE

-Our Ovit Correspondent

recovery from last Business done al the Hong- wook's deprossed lovels kong continued in stock mar- kots today, following ronowed but selectivo do-

mand.

the

Slow conditions slayed, how- ever, and price changes gener- ally did not amount to much.

The minin exception to trend was provided by gilt rized

lost securities which further ground on small selling. Consola 2% per cent fell one- righth to 40-0/16 and Treasurys 2 per cent the same amount to 30-15/10, new all-time low.

Coppers were Inclined to be higher and tins advanced on a broad front following eastern buying.

Olls were mixed, Rubbers and tees attracted} little attention.-UPI.

Closing prices

British Government Securitier 22. Consolidated – £40-11/16. 365 Conversion--€55.

3. Snvinge 1035/65-£9-11/10. 32. Savings 1983/20—–£18-0/10. 3. Savings 1065/75-£71-11/10.

Overcas

6. German Dawell. Ct.

3. Javanere. Amented—£150.

Banks & Insurance Barclays Ord■ St. Chartered Bank--61x. Gunriinu Agmurance-164x Dd. Hongkong Bank-£1915. Lloyds Bank---75% 3. Lombard Banking Ord-20 6. Prudential Assur, “A”—£25-5/10, Royal Bank of Cannia-627. Floyal Insurance Ord.--160# 90.

On

British Petroleum-30 dd. Busmal Oji- . Strell Transport Ord-1204 01. Royal Dutch-£13. Ulframar Company-53a od.

Steels Engineering Babcock & Wilcox Ord-331 d. Durman, Long-30% 34. Guest, Keen Ord-97x 3d. Hneland & Wolff Ord-17a Gd. Steel Co. of Weiss-41 Od. Stewarts & Lloyds Ord--5is du. Summers & Sons Ord-ST, Tube Investments-751 3d, United Ster)-62 0d, Vickers Ord~~Tha.

Electric Assoc Fico, Industries-42. Elec. & Mus. Industries-43 d. English Electric Ord- 3d. General Electric Ord-34 Bd Phlips Lamp Worka-211-0/32. Rediffusion Ord.—42 194.

Industrials

Stock Exchange this morning amounted to approxi- mately $3,100,000. Noon quota- tons and the morning's transac tions:

Shares ILK Bank

HIK Dank

Lon. leg.

Lombard Whart Co. Taikoo

HK Cas

Wheelock

::

Buyers Bellers Bales

412 414 120410

118 327

30

373 334

21.40 21'7

200

434

40412

1400222

100 v 380

100

100 21.70

100 AT 21.70

100 or 21.00

200 21.70

2300 211

10.30 1012 1100 of 1855

K Dock

Ch. Prov.

100

110

30%

IK & S.

Hotel

HKC Lond

itts. Youmal!

HC Tram

--

Ch. Light..

5000 a 18.50

503 161

1400 10.40

500 110

2014

38 Aug 1

3000 24 233

-15% 104 1700

73

74

133 133

€700 592/ 100 30

NO 307%

30 201 100 37

UK Elec.

3016

5

sve

60 0015

400096* 1500 304

40% to 37

23 374 100 37

30077

100 % 434

!IK Tel.

Cement

6220

13

2500 601

1500 m caly

200 pa!

Dairy

384 3824

Watson

10

500 387 100

200 / AT

1.50

Textile... Nanyang

7.85 7.00 2000

131% 43.00 1900 13,70

1002.55

4000 413.70

A. Rubber R. Trust Realty

0.43

7%

7.50

1000.00

2.05

2.70

1000 3.70

10000 or 2.075

(New) 2.623

2.55

250 g 2.525

3750 2.843 2500 a 2823

70 70% 200 or 79%

19.

4560 70

Bunion flubher Ord-2017.

1200 20

Flaons Ord-80s G.

Gitman (Hokings) Ord. International Computor-30 Turner Newall Ord.--70 450, Unilever Ord-Hu

Chracat

d.

Star Forry 234 Int'l Invest. 15.10

238

100 238

1000 m 13.10

d.

Assoc. Portland Cement-la 41d. Boardman Mardon Ord.-Se Dci. Borax (Holding)-18

Imperiat Chemical Ord-70% +15. Monsanto Chemicals Ord-22 d. Cinema & Television, Mosh Empires Ord-ita 15. Rank Organisation Ort-325 10d. Stol Theatron-s 7.

PANIT

Bowater Paper

De La Rue Grit 3200 Spleers Ord-524 Bel.

Wiggins' Teape Ori-43

Tobaccos

D.

Belinh-Amer. Toh. Ord-09 101gd. Carreras "D" Ord-5.

Gallaher Dre-49_3

Imperial Tobacco Ord-88a.

Motors

British Motor Ord-16.

Hawker Sukeley Drd-30s Pd. Inguar Cars Ord-100e 7740 Kolts-Rover Ord-438 3d. Westland Aircraft-19 1015.

Textiles Bradford Dyern-17 0d, Calico Printers Ord-139 C. Coau (JP) Paton Baldwins-403 Del.

Courtaulds Ord-435 Gel, Fine Spinners Ord-20 34. Larrenatice Cotton Ord-bus 4150. Breweries Distillers Co. Qid-378 45d. Guinness (Arthur) Ord-50s 30. Ind Ccope Ord-141 83.

Del.

Stores

Great Universal Ord-G2 0. Great Universal "A" Ord-38 . House of Fraser Ord-Cu Cd. Lyons (J1 "A" Ord-87 3d. Morks & Spencer "A" Ord-1324

Tate & Lyle Ord-Ste. United Drapery Ord-# 185d. Wantworth (F.W.) Ord-63% 4. Miscellaneous Bowmcker Ord-238.

B. Commonwent Bhip. Ord-30s ad.

Canadian Pacific Ord-4NIA. Cunard Steamship Ord-15% Od. Forestal Land & Timber-12s 10d. Hongkong & Chipa Gas-Is Hudenn Bay Co-10% Indo-China Lants Securitie

gd.

Ord.

Jd. P. & O. Stoam Nav. Det428. British Tin Investiment42 30. De Beers Def-131s 3. London Tin Corp—18% 101⁄2df, Mount In- 3d.

Pataling Tinh Đạ

Rhodeslan Anglo-Amer. Ord-38

Rio Tinto (Bearer)-40,

itoan Antelope Copper-5s 7:54. Union Corporation- 50 fil. Welkom Gold Mining-15s. Western folding 20. Rhakan Corp. 40%.

Rubber & Tran

Anglo Indonesian Plant- 10d. Ceylon Tea Ord-71. Imperial Ten Ord-15%. Kuala Lumpur-Keporg-3 Gd. Lambak Nubber 33 "3d.

-Reuter,

Marples on atomic ship

London, June 7. Mr Ernost Marples, Minister of Transport, told the House of Commons today ho was still not yet ablo to announce the gover- ment's decision on the building of nuclear- powered merchant ship. Heplying to crilickam Team both Conservative end Labour members at the delay in an

announcement, Mr Marples promised to make a full state- ment as soon ay possible.

The trouble was that a really promising reactor for merchant ships had not yet been producet anywhere, Mr Marples said. Britain should uno her limited resources in developing one.-- Reuter.

K.M.D.

HI, & F.E.

700 με 700

Invest...... 24.70 23 400 21.0

Gilman

Amoy

Wing On... Rope

Chy Hotel.. Humphreys

5.10 5.15 13000

3.15

1000

123

1000 29

33% 34%

Lane, Craw. to

Chicago grain

Chicago, Juno 7. The July soybean futuros stumped to its lowest loval in moro than two months today as a heavy burst of sciling knocked the contract down about sevan cents a bushol at times on the Board of Trade.

About half the loss had been recovered in the early afternoon As some speculatora who had been on the selling side earller switched over to buy up short commitments,

Soybeans were 3 centa a bushel lower to i cent higher at the cioso, July 289-88; wheat lower to 3% higher, July 187; com to lower, July 110-4; cats a lower to Elgher, July 0044-56; rye ih to 1 higher, July 1.16%-AP.

Scrap copper

price reduced

Now York, Juno 7. The U.S. custom smelter bid price for scrap copper

reduced was

another quarter cent a pound to- day, The two cuta today totalling one-half cent brought the level or No.

2 copper wire

Еетар down to 20 cents a pound. This is equivalent to about 31 cents a pound for refined cop per made from the scrap and avaliable for delivery in three months.

The smelters reported offer. lags by dealers at the earlier a pound price of 204 cents *vero heavy."

The copper futures market reflected the cuts with declines ranging from 15 to 30 points around noon.----AP.

Exchange rates

Dusiness was done in the local vicmcial exchange markot spoming at the rɔllowing rates! UB. dollar foer 1)

5.718 Blering notes (per £1)

16.58 Australian notes (per 1) ... 32,50 Indonesian rupiah ((per 100).. Blam lexis (per 100) ... 23.19 Bingapore (Biraits)