My
THE CHINA MAIL, THURSDAY, JULY 13, 1961.
Sabre-rattling over
Berlin hits WALL STREET Wall Street
World rubber market
New York, July 12,
New York, July 12.
Rox subber futures today Stocks retreated all along the line today
closed 10 to 30 points higher with sales of 26 contracts.
Standard contract closed 25 to 30 points higher with no sales reported.
A limited volume of offerings made parc extra-responsive to condnission house and deaktr buying
Brukers
reported a scarcity
uf offering
it the
pinct
market.
No
1 rss wats pound.
Lily, pot
quoted 2934 reis
nointial.
In Shigure,
with no lead whatsoever from oversens
the
market was slow to open with Brst budness at around pr. vien final closing levels,
Interest
11
Fair buying. stendied prices will sellers served rise in 312, for Augu 1 In thin trading.
There was hefter interest for
but majority lower sheets
buying was on switch basis.
iti
24 was quiet in the afterno with te vinderture steary prices rising slowly towards the
luse.
interest
onfituted
Lowers with busins al on switches In London, the vulder market was quietly stearty with pet, quoted at 24-15 18 penno
In Amsterdam. the market
-UPL was stendy Today
New York
sugar
New York, July 12. World No. 8 sugar futures today closed one to six points lower with
soles
of 28 contracts. Domestic No. 7 sugar closed une peint lower unchanged to with sales of 53 contracs.
in a "strategic" withdrawal before East- West sabre-rattling over Berlin. Electronics and "glamour" issues were especially
hard hit with losses ranging past seven in Zenith. IBM was a lone winner, up about six on a good earnings report.
F
Honolulu ed and Certain-Tred ↑ Gillette Co. dropped five or six at their Godrich, Worst. Ange Oil, Reynolds Foodyear Fere & Hub,
Grier, W.it & Cu bero. Litton and Beckenan three calf b
American Tolace, gerill and or mare, Minnesota Mining, Texu histru-n Pustness Mach
Harvester ments, Varian, Perkin-Eliner Nickel and others about two points or in Paper
Incl fel & TO June 2 Kusser Almaliwan Central Railway stutt
Kenneeult Copper Libby Owens Ford with a grie 1 more than four Liggett & Myers ht Great Northem and Northern | fekheet Aitt Parbie Bailouds dropped over a jinns Star Ceneri
Lothard, pikat esch. Subukan Gas drop- Martin ....
thee & Cons
hed more an
Tee
wake of government anti-trust arting Anerican Elert-le
Pison
110
CHATTER
Now York, July 12. Bache and Co. has reviewed the market's technical pic- ture of the past two wooks and says that the most| important feature of the rocont rolly has been a relative lessening of sell- ing pressure without substantial increase in buying force.
O
The firm concludes that while this one-sided development has 614
produced a technleal rebound, 435 still
necessary that GALE
seems 37 further building musi take BO place.
473
60
519
49
UK steel output declines
London, July 12. British stool output in Junc averaged 447,500 tons o work against 466,100 tons In May and a weekly 466,400 tons in June one
year ago.
The Iron and Steel Board announced this today and said weakness in demand showed up during the month.
First half-year steel produc- tion ut 12.22 million tons failed to come up to expectations and War 170,000 tons below lost year's gires at this time.
Pig iron output in the Janu- ary-June period moved up to 7.94 million tons or 62,000 tons better than last year's half-year performance.
EXPORTS
The Board said demand for sheet steel and tinplate was now reviving.
im- Steel exports were still invest-proving and in May at 203,000
Good stocks can now be pur- BG phased with greater conâdence
because of improved ment psychology which is based ZEN JON cauitous optimism rather than speculative fervour, cording to the Alexander Hamilton Institute.
50%
113
115
Ar Were
Metro Goldwyn Mayer Mintropolis furywell Minnesota Mining & Mig Münsinter Chemical Montgomery Ward
57
1ER 7098
287
Moore McCormack Lines Metorics Inc.
1180
กร
7544
Commonwealth akker weak spools.
Para- Gas Light, Temple's
National Fisuall Pictures. 42
Warnerational Cash Register Inspiration National Dairy Prod. Brothers Pictures,
American National Distillers Copper and North Aviation went against the lower National Gypsum trend with gains running eluso to a point or ifttre,
National Lead
New York Central
Northwest Airlines
Ohan ......
Ole Midhauson Chem
Talay's volume was 3,070,000 arte Gas & ES
shares.
Of a total 1270 issues traded,
62
BO
162%
121
40'2
70
Pan A. Waste Airways
10
Paramount Pictures
741
i
Pennsylvania H..
131%
Pepel Cola
13
DEL
201 were higher and 738 lower : Plzer, Charles
Phelps Dodge
Philip Murtin
American Exchange volume Phillips Petrol
was 1.110,000 schares,
Bonds volume $0.080,000.
Pere Cl
Quaker Ons
Radio Corporations
amounted to Raytheon Chempainy
Closing prices
(Allied Chemical Corp
Allis Chalmers
Republie Steel
ずら
Reynolds Melain
472
-UPI.
Reynolds Talanceo
12012
Royal Dutch Petral
2
Si tegin Paper
3-4
Seara ineliek
Shell Of
AUT
Shett Transpart
Sinclair On
41
$601
Sacany Mol:
407.
South Am. Gold & Plat
South California
Edison
M00
HA
Sothern Company
Sporty Stat
274
·
Standard Brands
8412
Standard Of California
52
American Can
izat
American Cyanumald
Standard Of Indiana....
51
10
Standard On New Jersey
American Motors
American. Smelt & Refin
+17
Standard CH Oblo
Americas Sugar
Sterling Drug
American Tel & Tel Ainericon Fabacea
11.
Studebaker Packard
Texate Ine
554
75
521,
An early mixed trend to the raw murket brought light and sculteret
futures.
Hiquidation
In world raws, an operater here reportedly was a buyer of 14.000 tons of Brazilians, Aurust shipment, a price paid working ut to alwat 6.38 cents a pound, delivereri Balaner of the Bra- zilian tender reportedly will be included in a new offering of 30,000 tons for the U.S. market next Weslnesday--UPI.
METAL MARKET
REVIEW
London, July 12,
Aluminium Lau Alumintain Company Ameruda Petroleum American Airlines
Armico
Steel Anaconda Company Armour & Company Associated Dry Gras Aftonte Nefining
Baldwin Lima Banditon Bendix Carp
2 thirhen Stres
נו
Thompson Ramu `W. Tidewater
Ol
Twent. Century Fox Trans World Airlines
551, Union Carbide
402%
Union On California Uton Peltic
United Alteran Comp -1933% United Air Lines
United Fruit
j
Encing Airplane
Borden Co.
ho
Borg Warne
410
US Industries
Burroughs Coco.
317%
tl Ines
Canada Preffe Bail
US Rubber
are. J. 1. C.
21
Cetane Corp. Am.
#
ferm Corp.
34
Chrysler Corp.
Cues Service
531
www
Coen Cola Corp. Colgate Palmolive
The tin market was steady commonwealth Edison
and spot
three
with months unchanged. Yesterday's improvement was Just in the couper market today, due mostly to the lack of oul- side demand.
Trading was moderately uc- five.
Lead and zine were steady but quiet today.
In New York, copper futures today closed 12 10 14 potats Jower with safes of 14 contracts. Small operations were mixed and without distinct feature, traders saiti.~~~UPI.
Consolidated Edinha Conthientat ll Corn Products Co. Croke Company Crown Zetterbach Curtis Wright Dull Corp-Sengranvi Douglas Aircraft Dow Chemical. Traupont de Nemach
US Simolt & Ren
US Steel
Warner Bros. Pictures
Western Union Tel.
Westinghouse Elretrie
Yole & Tone
4514 Youngstown Sheet &
Zenith Raho
544
6534
0714
182.
Eastern Air Lines
Eastman Kodak
Foud Marinery & Chem.
127
General DVERORES
62%
Ford Motor Co.
General Electric
General Mills
General Motors
General Telephone
Georgia Pacifle Corp. Gelly OR
THE EVENING NEWS
of
MANILA
is now on sale in
Hong Kong
Available at:-
• Kowloon Bookshop
*
Mirador Mansion,
64, Nathan Road,
Kowloon.
Swindon Book Co.
25, Nathan Road, Kowloon.
• South China Morning Post, Ltd.
1-3 Wyndham Street,
Hongkong.
Tol. 26611/5
and Salisbury Road, Kowloon. Tol. 64145
ac-
Stock Trend Service says that n technical signal has been given that summer rally will follow ...the trend of average stuck prices still appears upward, sc- cording to Moody's Stock Survey,
★ ✰
Standard and Poor's says that last the market's perfonnance week strengthens the better that the previous sell-off Was merely ti consolidation movement—a temporary inter-
ruption of the major frend.
It
says the list generally was placed in a healthier condition by the
consolidation.
The Dow Theory Trader says
seems that before the end of July and not later than early August we may well see new bull market highs in the Dow- Jones Industrial and Utility AverageUPI.
Agreed merchant
rates
Belgian Francs maximum selling 854.
Exchange rates
tuns set the high point for the post-war years except for Octo- ber 1959 when the U.S. steel strike made shipments soar. While imports are declining the net exports of steel "are mov ing
the strongly upwords," Board said.
Over the first five months of the year, steel exports
ran
at the rate of 224,000 tons a month against 192,000 tons a month in 1959, the previous best year for foreign sales. UrI.
Record U.S.
beet crop forecast
Washington, July 12. Robert H. Shields, President
of
United the
Statos Beet Sugar Association, predicted today that pro- duction of the commodity will sat a now record in 1961-2,786,500 tons. Shields made the prediction on the
basis of an ogriculture department crop report yester- day which estimated the 1861 domestle beet harvest at 18.577,000 tons,
He said that if the beet har- vest products the amount of sugar he anticipates, it would Įbe about 250,000 tons more than marketing the American beet quota is likely to call for
Business was done in the local national interest
unoniciol exchange
market this
morning at the following rates;
Sterling noles (per
US dollar (yer $1)
4.24%
Australian notes (per £l)
101
Indonesian rupiah (per 100) Slam Mena_(per 100) Singapore Straits)
Sugar
"It would seem to me in the to revise the Act to reflect at least the beet sugar industry's CUT- 19.95 Tent production potential," 12.77 Shields said, "Otherwise, sugar will have to be
5.305
3.40
25.70 beet acreage
1.01 reduced-UPI.
COMMODITY PRICES
2424-243%
July
Oct.
Des.
SUGAR
NEW YORK
Closing prices, all in cents per
Aug.
Estate crepe thin July
thick July 271 AMSTERDAM
Closing prices all in guilders
per kilogram, c.i.f. July,
No. 1 rubber
No. 2 rubber
1b.:
Contract No. 8 (world)
Oct.
3.03
Mar.
3.03
May
2.5%
July
2.05
Sept.
Spot-World Average) 3.00
Total Sales: 29 contracts.
Kepl
No, 3 rubber
No. I crepe
METALS
300
34.75
NEW ORLEANS
-Closing prices ail in cents per 16:
Spat July
More losses than gains
in London
market
London, July 12. Falls outnumbered gains in industrial stocks today when yesterday's minor rolly petered out through lock of follow-through. Fears of p bank roto change tomorrow UN- settled already sensitive markets and brought frac tional declines among the leaders.
and Associated Courtauld Electrical Industries were BRINg Brm exceptions in the quiet pence trading adding a tow each, while Imperial Chemical, Dunlop, Rolls Royce Unilever declined little.
Stec! shures lost ground, enginecring counters drifted and stores showvel scattered falls. Mutors Durc
generally cased.
papers
Banks and Insurances edged upwards but gilt-edged stayed
Shell's big deal in
the chartering
market
(The Shell Olt Company arranged to hire Ave 80,000-ton trukers for 20 years. Does this Indicate a boom for the thin me? tanker business which has been going through a Alexander Thomson investigates.)
By Alexander Thomson
London, July 12,
John Kirby has fixed up a series of shipping deals for the Shell Oil enterprise which
he calls "unprecedented”.
in the doldrums although War Kirby, 48 and hefty, is "marine co-ordinator" for
Loan 3 per cent mannged a 1/164
£52-9/16th. goin to Dollar stocks tended lower. Foreign bends were idler, Soary
mining Fold
Anance houses staged an improvement of five state with a handful
small. mines but business
out small gains Coppers cked but tins went into retreat.
held finn after Oll leaders narrow movements,
was
In plantations rubbers turned
lost their quiet and bounce
tcas while
neglected-UPI.
recent were
Closing prices
British Government Securities 2. Consolidated-38-3/10. 2ly Conversion 62-11/10. 3. Savings 1055/05-0
Savings 1960/70-£779.
3. Savings 1985/75-LA-{1/10.
Overseas Bonds
5
Gernik (Naweek09.
5% Japanese. Assented-1975.
banken & Insurance
Barclays Orden 7.
Chartered Dunk-54.
Guardian Assurance-305 31,
Hongkong Bank-£189. Lloyds Bank-£61.
Lombard Banking Ord-17 44
ad, National &
Prudential Astley-£22-11/10.
011
Royal Bank of Canado-£27. Royal Insurance Ord.-181 34. British Fetroleum-47a du. Burmah O-375 d. Shell Transport Ord-1214, Royal Dutch-€ 12. Ultramar Company id.
trets Engineering Babcock & Wilcox Ord- Durman, Long-ha (d. Guest, Keen Ord-80s. Harland & Wolf Ord-15% d. Stewarts & Loyds Ord-434. Summer & Sons Ord-50% 17%d. Tube Investments-70s. United Steel-50 Bu. Vicker Ord-31m 115d.
Electric
Assoc. Eler. Induiries 376 Del.. Elec. & Mus. Industries-37 English Electric Ord-318. General Electric Ord-329 9:1 Philipe Lamp Warks-10-19/32, Rediffusion Ord.--38s 9d.
Industrials
ས
Assoc. Portland Cement-78 7d. Boardman Morden Ord-3 Bd. Borax (Holding)-17 101d. Decen Records Ord-578 B. Dunlop Rubber Ord-20s Stad. Fisons Ord-448 30.
Gilman (Holdings) Ord.-Ge 1159. International Computer-3 G Turner & Newall Ord. 62s 41. Unilever Ord-1318,
Wiggins Tespe Ord-66
Chemicals
0.
Imperial Chemical Ord-87 45d. Monsanto Chemleats 1590.
the group. He is supremo for its fleet of 180 oil-tankers operating everywhere in world.
HONGKONG
STOCK EXCHANGE
Business done on the Hong- Stock Exchange this kung morning amounted to approxi- mately $4,350,000. Noun quota
and tlona
the morning's transactions:
Skater Buyers Selleta HK Bank 412 414
HK. FE.
Invest.
Whort Wheelock
Ita.. "
HK Hotel..
Balew 70 411 200 0 410
000414 170 i 14 50412
2012
400 74%
100
LOGO
400
the
in the last three weeks from his office in the shipping guarter Kired nye
of the City he has 80,000 tonners for 20 years.
Chartered
"No one has ever tonkers for HR for alwad
na the me over
leaving for Devonshire and the noa.
that, he told weekend before
These denis have caused more than a ripple in places like the Minories and St Mary's Annexe
the where
shipping abound.
offieca
For this is the first time the Shell group has
boen In this chartering market in G sub- stantial way since 1958.
Some people say is return 19 a "bullish" sim for oll-fankvi
are having companies who mighty thin time just now. They argue that Shell must believe an upturn in tanker freights is on the way If it thinks it right to begin chartering again.
I am not at all sure this is the way to interpret its recent activity in hiring additional tonnage.
paying.
Look at the rates the group is They are reported as starting at as low as 11/0 a ton month and overaging 14/2-1/2 for some of the ships. WATCHFUL
have
I doubt whether there been long-term charters as low as that since the shipping slump of the early 19300.
20%
*7
500 27.10
3300
20.70
400
404
100
404
13.70 14.19
2000
13 DO
3.225
500
3.55
12500
1.80
per
110 IK Dock
Talkas Dock 742
+
113 700 110
1000 £ 117
75
400 14
200 0 13
Provident
24
47a
1000
HK Land
TO 71%
1600
200
100
HK Realty
2.723
21, 25000 16 22)
New
2.373 265
HK Tran
99% 13
KM Bus
019
台店
320 8219
Yaymot!
Ch. Light
135 138 391
400 130
40
Fu A 40
500 40
1020 40
500 40
3000 3.775 5000 m 2.725
2000 2.60 204415
13004415
100 15
440 821
600 e 82
In the autumn of 1999 when alanker boom was at its height, tonners wCTC fetching
ton for seven-yea
50,000
30/- charters.
This
Jates! chartering business, it seems, had been almost like a came of poker with each side sitting straight-
faced and walchful. 300 L 02
The owners who have
2000 * 3014
200 x 40
100 22 4114
Ord!~~221
HK Electric
#1 482
400 ♪ 412
4135
4152
Cinemas & Television Loss Empires Ord-On Del. Bank Organisation Oru-27 10. Stol Theatres- Bl.
Paper
Bowater Pape: Ord-32 94.
De a Rue Ord-54s pa. Splcers Ord-47s 6tl.
Tobacco
7190.
Beltish-Amer. Tob, Ordm. Carreras "B" Ord- Gallaher Ord-428 1794. Imperial Tobscen Ord-70 30.
Motora British Motor Orda Du. Hawker Siddeley OrdZIN O Jaguar Care Ord-90s 45. Holls-Royce Ord-4s 6d. Westland Aircraft-10s 'd.
Textiles Bradford Dyera-10s 1024. Called Fripfors' Ord-12 41.
Paton & Baldwins- Coots P "Courtaulds Ord-36# 9d. Fine Spinnere fird-26. Lancashire Cotton Dri-334 45.
Axed
up to hire the ships to Shell probably ordered them som.c
years ago expeeting the boom to continue.
When
31 collapsed they
persuaded thio shipyards to delay building. The yards, full up with niker work, wero happy to oblige.
But
41%
orders,
GUD $1
200 tới 12
1000 41
300 $130
8500 $1
IK Tel....
02
Gal
300 4134 100
1500 * 67
400 58
500 $735
2006 5a
HK Gas... 23.10 23.20 2006 er 23.20 600 6:23.30 500 or 23,20 5000 or $20 1000
7.28 buyers
32.50
2.10 buyers
2.24 buyers Oct.
34.55
2.53 buyera
Dec.
--UPI,
Mar.
35.78
May
34,00
July
55.70
Oct.
34.05
Dec.
31.20
LIVERPOOL
Closing prices all in pence per lb.:
42n.
Open interest: 850 contracta. Contract No. 7 (domestic)
American Contract
Gilman
5.20
NEW YORK
July
23.65
Closing prices all in
Oct,
24.45
Distillers Cn.
cents
Dec.
Nov.
0.25
Mar.
6.25
Lead
per lb.:
Mar.
25.30
Guinness (Arthur) Ord-51′′ od. Ind Coope Ord-13.
Jarding
20.00
23
MPY
25.50
Starex
May
July
10.10
July
34.50
July
Zine
Oct.
21.45
Spot(Bulk, duty paldi 0.40
Sept.
10.10
Mixed Contract
Tutat Baled: 23 contracts
July
11,15
July
24.00
Open Interest: 2,506 contracts.
Oct.
UPL
11,00
Dec
20.00
Mar.
30.21
Muy
Jully
30.20
Oct.
30.10
30,07
50.02
RUBBER
Copper
Sept.
July
Sept.
Oct.
Doc.
Jan.
Mar.
May J
NEW YORK
LONDON Closing prices, all in sierling
Rubber futures closing prices, per long ton:
***
nit in cents per b
Rex Standard Tin
Buyers Salter
July
29.15
29.03
Sept
240.70
20.05
Spot 3-inonth
014
#13
023
Nov
20.75
Copper
Jan.
20.70
Spot
230
BEAT
2003
May
2-month Lend
Spot
21314
3-month
0316 105!
Zine
Spot
*7716
3-manti
7718
---UPI.
SINGAPORE
Closing prices all in Strolts
cents per 16. Lob. Malayan poris!
No. 1 July
| No. 1 Aut.
No. 2 July
No. 3 July
No. July
Spot rubber unbaled
Blanket prepo
LONDON
No. 1 pole crepe
0432-03
7016-3115 91.572 Closing prices all in pence per
No. 1. Res spot
Asept.
7812
23,60
25.05
UPI.
FOREIGN
EXCHANGE
NEW YORK
Closing raten:
.00%
2.7059
2.7700
7,75:00
SPO
2.0725
Great Universal Ord-50s, Great Universal "A" Ord-03s 3d. House of Fraser Örd-631 10d. Lyons (3) "A" Orid=74_14y<t.__ Marks&Spencer "A" Ord-110
Tate & Lyle Ord-44s 3, United Drapery Ord-73_Del, Woolworth (F.v.) Oni.—338 34. Miscellaneous Bowmaker Ord-15 941. Belt. Commonweal Sihip. Ord-37 Canadian Pacific Ord-1445. City of London Real Prop.-30
"Cunard Bleamship Ord-138 1gq. Forestol Land & Timber-14 dif Bussines Withy Ord-30 3. Hongkong & China Gan--378. Hudson Bay Co-E8-5/10. Indo-China Def. Ord-21# 68. Land Securities Ord-30s.
P. & O. Steam Nav. Def.-37a 3d.
nes
British Tin_tøvestment-Hia 90.
De Beers Def1242134.
London Tin Corp-29%
Stout IOZE BG.
Petaling
Blu Tinto Bearer)-30
Roan Antelope Copper-&• Dyd
Trunch Menus.
Rubber & Tes
Imperial Tea Ord-141 34.
Cement....
Dairy
07 (22%
43
12 12.40
3000+ B
150 28.70
100028.90
30 - 20.00
to u zu
now they have Fot through most of their ether
"What
about
your tankers?" they have been asking.
Customers have had to decide whether to cancel orders and lose their deposits or tako pot luck in the chartering market.
I suspect
Shell has that been walling for Just that to happen and hne Jumped in quick to take ndinntire of
This why it will be able to average out high rates it had to pay to hire ships when the last boom was onl
To carry oil about the world
nextla
the group
100 20.00 tons of tankern.
10 million
It Owna [about 4 million tons itself. The
0 million
tons it hires from independent owners,
30 20
2450
20.00
000 $29
100 0.90other
000 → zu
100 68 28.90
300 (20
300 20.9
2006 20 1000
50 61 10.00 400 20 300 20.00
1000 6 6745 200431
01:00 44 4312 1004315 2004 300 43 400043
2000 67
30 40
Watson Textilo
1000
Nanyang Amal Rub.
1019.
Rub. Trust
1.40
0.40 615 5000 + 0.45 20000,49 7.90 3000 75
13950
Union Corporation--45 412.
Walker Goki Mining-10% ud.
City Hotel
3912
10:06 7.8S
4 4 300
2005
Western Hoftings=110x.
$29 43
.1730
Anglo Indonesian Plant.~44 06. Ceylon Tea Ord-234.
Humphreys
20 80
600
Kuala Lumpur-Kapong-35 02d. Lambak Hubberadīs čd.
-Itouter.
Blar
L.C.
Forty
240
50
BI
Inti Invert.
10 10.20
Allled
Allvent
Macro Elec.
Tope
COTTON
Canada ..
England offlelal
Australia
30-days
Do-daya
New Zealand South Africa
Tadla
Pakizion Hong Hang
LONDON
Clasing rates: New York Montreal Arkatordam Ironwe NEW YORK
Copenhagen Closing prices all in cents per Frankfuri Ib.:
Lisbon 8pc
Oxto Bochqint Milan
Vienna Zurton
2.70 7/10-3,70 0/10 2,00% −0.001
138.00-120.739
1.000
0.1-0. 19.0735-29.95 14.2816-14.2036 1A-1722 732-13 10 29.0136-19/013
UNIT TRUSTS
First Hanging Band: $1.83 (buyre), $1.42 (#eller).
End Jengkang und: $1.01
} (büyer), $1,67" (solfer)."
16.
2434-20
Sellignent house term:
SATISS
23-2512 2516-1542
July
July/Best,
deneta) marketa, e1f. kaša, port
Mar.
July
May
Oct./Dec. Jan./Mar Agr./June
34.75 nom
13.40
36.28
35.78
10.00)1⁄2-10.009,
1309 və 2015
140 or 24.50
1500 2000 2000 of 24.20
5500 M 31.00
200 245
20 240 100 40 52 200
1000 de să!!
CHEAP TONNAGE
Don's just arranged provide 400,000 tons of cheap tonnage. Two more similar transactiona are said to be in the offing.
The odd thing about it this I that the ships being hired in this way are not duo far do- livery until 1503.
So Shell will be getting aỏ- vantage of cheap Transporta- don from them until 1994.
Ten years after John Kirby has refred will all be pencing from his recent poker Kame" in the charter- ing market.
Kirby, you will have guess- ed, is a lively character. Ho recounts with
gusto great stories of his ɑnya as " roughneck and roustaboui" on
the Amerlenn oflfields.
But ono Ike' besi is how he Cime to survive the depression at the beginning of the 1930.
"I joined as a 17-year-old offee boy" he once told me. "Those wero dimoult daxe.
A lot of people had to be
ped. ut no one could. Are me. Bomebody had to get the hoarca tea."-London Exprem; Bérview,
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