1961-07-18 — Page 2

| Page 2

THE CHINA MAIL, TUESDAY, JULY 18, 1961.

New York shares suffer WIDESPREAD LOSSES big

IN LONDON, MARKET

London, July 17.

Stores and property stocks were the hardest hit among industrial stocks which declined today resulting in losses of millions of pounds from market values.

Fears that the government's economie uke will hit the market One

10- week from morrow dominated the depress- ed market and a faint attempt to rally Rzzled nal.

Patie in every plummeted and only a couple of special situations went against the trend.

Bright spots were "foreigners" Hike Philips Lamps and Dutch Unilever which made the plus column.

British

Motor Carp managed!

tu hold steady but the bulk of blue chips phitged. Falls up to two shillings were entotnenplace ¦ after stopped up selling.

Bargain bunters were holding

while OIT

the Government's "medicine" for the economy

was unknown, although many

financial commentators Judge the fall in top quality counters aireatly was overdone.

GILT-EDGED

Glitelged stendfed at frst helped by a firmer pound but talk of a bank rate increase un- seliled the bonis

lipped by £3/8th for short- dated isniei,

and

they!

Greek and Japanese bonds hardened in forelga bonds,

Dollár stocks

gave a mixed) performme! but gains finally Look the upper hand, Shell the standout up two points.

In mines coppers went ahrad on favourable press comment and golds rmed in quiet trad- ing. Tins fell back.

Leading olis fared better than industrials and lost only fractions.

Rubbers and

leas generally

edged downwards---UP!

Closing prices

Brital Government Reestritter

2 Consolidated-438).

3

a

Conversion-£52-42716.

J

2 Savings (77

Savings

3. Savinge 1985/75-2001..

Overseas Donde

Gerinan (Dawes)- EOD.

$5 Japanese, Assented— £158,

Hanks & Insurance

Barelnya Ord-Tis Vd.

Chartered Bank-$15.

Guardian Amuratice-$7, Bd.

Hongkong Bank-217.

Lloyds Bank-3.

Lombard Banking Ord.-16x Od. Nations! & Grindleys-22. Prudential Royal Bank'

anustin- £2129. CHAT-E21-80/16.

Royal Insurance Urd-25% 93.

Ol

Britial Petroleum-46% Gd. Burmah 0-355 3

Shell Trumpers Ord-118h 94. Royal Dutch— £ 12-5/10.

Ultramar Company-785 1010. *Steels Engineering

Babeogit de WBeox Ord-276 724). Colwilles Oru-35% 36. Burman, Long-27s

.

Guest. Keen Ord-80% 750

Harland & Wolf Ord-19s 450. Stewarts & Lloyds Ort-42. Summers & Sons Ord~40% $1, Take Investmeziis-878 kg. United Steel-40s Bd. Vickers Ort)—30.

Eierstle

Assoc. Elec, Industries-30% D. J. Electronie Ind.---10x=2%, Elec. & Mus. Industries-375. English Electric Ord-30s 3d. General Electric Ord-318 Bails Lums Works & 15-15/17. Rein Ords frá,

Industriale

d.

Assoc. Portland Cement-74μ el. Boordin Marden Orf-5 1. Burax (Haldines—17% 7%df. Decca Records Ordin555 7150. Dunlop Rubber Ord-20s. Fisons Ord-41 195cf,

Biman Boldings Ord.-n. International Computers-ius fid. Tumer & Newall Ord.-Bay do. Unilever Ox-1209 d.

Wiggins Tenpe Ord-356 4120,

act

Chemical

Imperial Chemizol Ord-05« 6c. Menantu Cheintent Ord-20%.

Cinemas & Television Mon Empires Ords 10. Hank Organisation Ord...āla 95. Stall Theatren-1s.

Paper Towater Paper Ord-128 410.

In Rue Ordata Ost. Sulcers Ord-46 Bd. Tubarcos Belish-Amer. Tab. Ora-620. Gaureen Ordas G. Imperial Tobacco Ord-ots.

Fish Motor Ord-135–1912, wker Siddeley, Ord-2 Gil. Suguar Cars Ord-904 100, Holls-Royce Ord-4231_3d. Westinnd Alteraft-ita.

Textiles

afolors

Bradford Byers-17.

Stalien Printers Ord–124, ad. Coats JP) Patonal twins-39%

Portatile Ord-15 7. Fe Sptuners Ord-25 GA, Lancashire Cotton, Dril-35% 1',d. reweries

Distillers Co. Ord- 31. Guinness (Arthur) Ord-St Jut Compe Ord-Ba að.

Stares

decline

Now York, July 17.

Stocks suffered sizable losses on the Now

HONGKONG

STOCK

EXCHANGE

Our Own Garimpandent 3

York Stock Exchangơ today, closing atong Stock

Business done on the Hong-

Shares

foxchange this

Buyers Belaru Bale

or around their lows in continued slow morning amounted to approxi- mately $3,500,000, Noon quata- trading.

tions and the morning's transactions, the brunt of the selling, as First-class issues bore

ovidenced by a relatively steeper decline in the quality-laden Dow-Jones 30 Industrial Average thinnor Bank.. in the more Inclusive Standard and Poor's 600.

Market heavyweights includ- Į Parke Davis Col ing steels, cars, ebemicals, Panny J. C..Co. metals, utilities and ralls gen-p Morris

crally showed Jostes fánging from fractions to two points or more,

Finner, building and many leisure stocka Alan decilned, along with a number of key de- fence istes. Only drugs managed to hold a good portion of their curly gains,

Today's volume was 2,600,000 shares.

323

Of total 1,250 issues traded, were higher ant 698 lower. American Exchange

was 1,040,000 shares.

Penn, Salt Co.

Pitney Bowes

Pure Oil

Indio Corporation

Radio Corp Pref.

aytheon

trouble Steel

Reynolds Metal

Royal Bank of Canade

Iti nank

Wheelock

:

40 1255 406

50 400

40 408

370 406

UK retail trade loses buoyancy

London, July 17. Retail trade in Britain lost

some of itu rocon buoyancy in June com- porod with the high lovel of the preceding throa months,

provisional estimato from the Board of Trade showed today.

After allowing for seasonal factors, the index of the value of total was probably between 113

with and 114 corepared 115

in each of the previous three months. In January and the adjusted index February

The Bourd said it seemed 13:30 there

from was some casing the earlier high level, "but too much should not be read Into individual

100 18 200 to 73

200 - 75%

FOOD STORES

Less active trading by food tures seems to have enuset much of the decrease in June, Board officials said.

For the recond quarter as a whole the Index was estimated at 114, against 113 in the first quarter and 112 in the final

3414

Lon. Reg. E. Asta

24%

HK & FE

Procter & Gamble Co. Pittsburgh Pinto Glas Portland Gen. Fire.

BIES 042:

invest. Wher?

..

25 23.30 300 5 25.20

414 415

13.30 13.40 3000

13.30

Publicker Industries Pralinen

41b

10 412

3000

13,40

wag 112.

10000

13.40

2000 13.30

3000

BEWheelock

(RU

3.15 3.33 2003

3.30

2210

4334

Hyvids Tobaccu

132

IIK Dock Taikoo Dock

115 117 záh

the month,"

figures for an

Royal Dutch

Rheem Mfg

1714

100

Seard, Roebuck & Co.

volumic

Shui o Co.

Safeway Stoves

19

Saint Reg. Paper

Bonds

volunic amounted tu

Schenley Inc.

$6,000.000.

Boult Paper

Provident 261xK Hotel

1004

HK Land

2312 31

47 431 1300 75

1000

Siegler Corp

Dow-Jones closing; averagest

Stachir Í

401

30 Industrials

684.50

Smith, Kilie & French

212%

20 Rails

135.45

Socmy Mobli Ol

40**

HK neally

South Puerto Rico Sugar

22%

(Q101

270 50032.075

15 Uulities

143.01

Sauthern Ch. (The)

54

(Rights)

45 Stocks

•225,

Southern Natural Gan

HX Tram

200 42

40 Boruts

$3,03

Southieni Pielfie Co.

260 to 42!2

tl.

“A” Öritings

Southern Railway (Com.) Sperry Hand

34T

300 1 4249

147.84

Standard Brands

Standard O

of Cal,

51%

100 422 100

Standard O

af tel.

Standard Ol of NJ.

4.776 KM. Dua

1012 $1 1150

402

Sicep Rock

Sterling Drug Co.

12

Yumati

134 135

Stokely-Van Camp

17

100

Stone & Webster

Studenker-Packard Corp.

712

Ch. Light

3912 3022 1500 or 397%

As Chalmers

Sunshine Mining

U

Am Brake Sh

Swift & Co,

100 40

42

Amertean Airline

24

Texas Co....

100

2000 301

Am. Cable & Radio Corp

Textron Inc.

20

HK: Electric

4015 40%

American Cyanamid Co.

Amer. & Form. Power

1032

Thinko! Chem,

Am. Gate Electric

0732

Tide Water Oll

Amm

Home Prod.

221

Time Inc.

ch.

Ain. Mach. & Fury

4432

Traders Finance

Travelers Inc.

142

143

4.

American Metai

Am. Natural Ga

672%

Til-Cont. Warrants

37

America Smelting

00

Twentieth Century Fox Film

Telephone

60 30%

200

A. Sugar Bel

મા'

Unten Carbide

American Tel & Tel

Union Out Cal

American Tov.

DIP

Union Pacific Railway

101%

Unlled Aircraft

Ampex

5434

United Fruit

752

Unlied Gaw Corp

U.S. GypsuENTS

Great Universal Ord-12s. Od. Great Univeral "A" Ortuala, Hover of Fraser,

14 30. İyun 131

Marks & Spencer

Tale & Lyle Ord-43s 1.

Uniteit Drapery. Ord-42x 24 4. Woolworth (P.W.) Ord-55.

ancellaneous Bowmaker Ord--15% 2,d. Brit. Cammonweal Ship, o Sanadian Pacific Ord- 14342. Cast Strumably Oral-19 Forestal and B Timber--13% 34.

Ord-391-1

wo

Pheness Winkayas-75.

Bongkang &

Juris Bay Co-£8. luận Chu Trt and a

Land Securities Ord-20s l

P. & D. Steam Nav. Del-33.

Stines

Brit. South Afrien Co.-02

British Tin Investment-43 The Heers Del-172 B. Landon Tin Carpi

33.

Eteunt -5.

Petaling

Bhokann Corp.45 3 Rio Tinto hearers 304–31.

Hour Antelone Copper-Bel Union Corporation43 13. Welkom Grid Mining-10% 3. Western Horlings- Oct.

Angio InRHI Tras

Cimun. Juture prless

incicx

Closing prices

Abitibi Pwr. & Paper

Alden Fac. Acy.

354 Alone Steel Corp.

Int.

Ceylon Tea Ord-239. Imperial Ten Oed-145 Kuala Lumpur-Kepongw3 440. Lambak Rubber-478 ct.

-Reuter.

New York

sugar

Allied Chemicals

· Albed Mils Inc

Anscoda Copper

Are Steel

Armour

Asbestos Corp. Baldwin-Linu-Ham Baltimore & Ohio Bank of Montreal Bench Late Savers Belt Telephone Deneficial Finance

Bendix Aviation Corp.

69

43

U.S. Line Co.

15% U.S. Fulber

III Gea

++ 22.30

Güman

Jardinee

5.10

200 134

1900 21

2000 40%

1000 do 4012 3504014 100403 500 40% 100 407

225 1 1100 5015 1104501% 200572

75 57 1000 50%

23 1900 / 22.50

500 e 22.80

1000 u 22.50

200) ZJ

20.10 21.00 2000 to 28.30 G.1. Cement 0015 07 1500 67 Dairy Farin 41 42 2800 42

7.15 720 6000 +7.20 Nanyang.. 11.90 12,10 Amol, Ruh..

0.30

Texille...

U.S. Smelting

31

6214

U.S. Steel

67%

US Steel 7 PC PF

14511

3402

Warner Bros.....

3347

Waukesin Mutors

화

Westinghouse Air Brake

12

Westinghouse Electric

#234

4/1

Western Union Tet. En.

4

Boeing Airplane

MEN

West VA. Pulp & Paper

Borde The Co.

Winn-Dixie Stores

Rub. Trust, 7,00 City Hotel

Burros Add Machine

Woolworth K. W

76

Zenith Radio

150

Humphreys

British Amer. Oil....

UPI

Hentuel Cons

Bethlehem Steel

British Columbia Elec British Columbia Pur.

Call Packing Corp Cana. Bk. of Comm. Cana. Brewers Campbell Soup Co Canadian Pacific R. Case . 1.) C«. Cat. Tractor

11014

Celmr* Corp.

New York, July 17, World No 8 sugar futures CIT. Financial Corp. today closed one point Chare Manhat. Bank

Chrysler Motors lower to one point higher Cock Cuin

Colgate-Palmolive Co. with sales of six contracts, Colombian Carbon Co. Domestic No. 7 sugar closed Commercial Credit

Carina: Glass Works two points higher to one point Consolidated Edison Juwer with sales of 163 con- Consolidated Paper tracts:

Consumers Cas Continental Car Sugar

dull affair.

Continental all of Del. Futures opened unchanged on Crane Co. ***** both the world and domestic Crown Zellerbach

Delaware & Hudson Co. contracts with no trades.

Diamond Alkall Qn Saturday Iran will buy Diamond Nat'l 50,000 tons of refined sugar in Distillers-Seagram

Dominion Stores market including Douglas Alterait the world 20,000 tons for August shipment, Dow Chemical 20,000 for September and 10,000Dupont de Nemoura for October.

was

th

| Eastern Air Line

Fastman Kodak

will El Paso Natural Gar sugar Family Finance Corp.

Perro Corp. for Inte

Fistitone Tyre & Rubber October First Nat. City Bank Find Nat. City Dunk

On Wednesday, Brazil ofter 30,000 1ons of raw for sale to the US. September and early shipment.--UPL

THE EVENING NEWS

of

MANILA

is now an salo in

Hong Kong

Available atmine

• Kowloon Bookshop

Mirador Mahsión, 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

Ford MoiDE

General Dynamier

General Electric

General Foods

General Mutom

den. Pub. VE.

Gen. Tel. & Elec.

Gen. Tyre & Rubber

Gelty Oll

Glidden Co.

Goodrich (D. F.) Cu.

Goodyear Tyre

usmon Refrig.

Idale Power

Imperial Oi

UNIT TRUSTS

First Hongkong Fund: $1.33

(buyer) $1.41 (sellec).

mb

433

Second Hongkong Fund: (buyer) $1.00 (seller),

$1

451

Agreed merchant

rates

West German Deytschemarks. maximum selling. 08-7/16.

Lane, Crow. Macao Elce. Rope

UnderTVE

Allied Inv... Int'l test

Union

Whoa!

Star Ferry

Meinl Indust

Amoy.......

00012 0.50 11000 0.00 4000 19 (1.80 7.13 2000 7.93

332441

27.10 28.30

40%

41%

14.00

11

10 10.00

#

1000 G 27.30

000 en 4974,

2000 15 30

300 421

Exchange rates

Business was done in the Unofficial exchorise market morning at the following rates: US dollar per $1 Sterling notes iper Australian noles (per £1 Indonesiaty ruptat per 100) Slane (per 100) Singapore (Sira:is)

local this

$.002 10.01

3.401

24.3 5.81

ia

The

three month of 1000. buse was 1937 equals 100,

"Increases prices more than accounted for the increase in the volue of sales on one year carller in Board sold.--UPI.

RANSPORTA

Sharp increase

in number of idle tankers

London, July 17.

A sharp jump in tanker tonnage laid up through lack of work over the last month pushed up the total idle tonnage of tho world's mercantile fleet by 130,000 tons at the start of July.

Liner Cathay leaves London for Japan

swing-

The big rig In Idle innitors easily wipi out a better than 100,000 tons declino in the total of dry cargo freighters ing at mouringy.

Figures

Chember from the For Shipping today showed 303 ocean-going vessels of 3,195,400 tons, three por cent of the World's fleet, were unemployed

London, July 17, The P and O-Orion liner Cathay saited from hore today on the first log of of 3,058,721 June," the

World

rabber

review

New York, July 17, Rox rubbor futures today

closed 10 to 20 paints higher with sales of six contracts.

Standard contract closed Ave luwer to 13 points higher with sales. No sales were reported.

Emphasis persists on the un- favourable aspects of the situa tion and, in particular, on the "threat" to natural rubber from The uptrends in production and consumption ar

synthetic rubber.

In view of the natural rubber price decline of three cents or more since last May and the present very narrow natura}- synthetic price spread, natural rubber appears to have moved into a better position.

No. 1

ru 304 and current month 294 cents a pound, both nominal. One July-August ship- ment was sold at 28% and two July-August at 28.

In London, the rubber market was steady with spot quoted at 32.30 25 pence.

In Amsterdam, the market was very calm today-UPI.

COMMODITY PRICES

RUBBER

Oct. Dec,

LIVERPOOL Closing prices all in penee perj Jb.;

American Contract

July

23.65

25.30

938R888 38K2628:

ទង់ព

Jan.

Mar.

May

July

LONDON

Afternoon Breton

30,16 30,12 30.08 30.00

Closing prices, all in sterling per long ton.

3-month

Copper spot

5-mumili Lead epot 3-month Zinc apst

3-month

NEW YORK

Rubber futures closing prices,

July Oct

all In cents per b

Dec.

Great Northern Railway

July

20.30 20.33

Griminan Aircraft

Sept.

REX Standard

2.50

Mar.

May

29.00

July,

25.50

49.35

Ort.

29.30

Tin spot.

Nov.

29.40 *9.00

Oulf Oil

Bixed Contract

Hammond Organ

Jan.

20.15 28.03

July

Heyden Newport Corp.

Mar.

28.00

Ost.

Train Wallër ..

May

28.00

Dec.

Homestake Mining Co.

LONDON

Mar

May

Closing prices ali in per 3b.:

pence

Del.

4356

No. 1 Ras spot

23-2015

4217

Bettlement house terne:

48700

Aug

July/Sept.

R1

Oct./Dec.

30%

Jan./atar.

Tali, Tel 6. Tel

5583

Apr/June

Johns Manville Co

July/Sep

Kaiser Industries

10.

Kanan C. Power & Light

Aug.

Kenreet Corper

Estale crepe

in July****

Kimberly Clark

thick July

Liggett & Myers zob.

Imperial Tobacco Ingersoll-ond

Inland Steel Co...

Corp.

Internal warble

Int Harvester

International Nickel

International Paper

Lily Tullp

Litton Ind.

Lotklieed Airtron

Loews Incorp.

Lone Sur Cetnent Co."

Lorillard P

Lowensteit & sonr McDarinti J. Tay

McDo in Atromitt Merek

Mesabi frusi Corp.

Minnesota Mining

Mission Development

Montecatini

General markets, cl. basla. ports

1b.:

Dayers Seiler

904 010

110

EXO

22014

0014

6/22

70

709%

-UFT.

FORLIGA EXCHANGE

COTTON

SUGAR

NEW YORK

Closing prices, all in cents per

Contract No. 8 (woria)

Oct: 1.00; Mar: 3.03; May: 291 July: 2.7; Sept: 2.07; Spot (World Average) : 3.00

Total Bales: 6 contracts.

Open Interest; 836, contract,

Contract No. 7 (domestlt)

Sept: 6.37: Nev: 021; Mar: 0.14; May: 0.23 July: 1; Spot(Dulk, duty paid): 0.40.

2014) Balong the conurety

terest: 2,372 contracts—

official 30-days 20-days Austraila New Zealand

Danmerk

Swedes,

India

NEW YORK

Monianto Chemical Co.

Closing price all in cents per

|

Open UPI.

Ib.:

Mtuntgomery Ward

Spot

34.00 nom

Motorola Ine,

Oct.

National Biscuit Co.

Dec

34,00

National Cain Reg. "A"

Mar.

33471

National Dairy Prod.

May

|National Lend

July

35.73

Dec.

34.08

2

Oklah Net:

Om Mathlessn

....

National Steel Corp, New York Central, Norand Mines Ltd. Norfolk & Western.

Amer

Y

Marifiwest Altisée (Coma

Qua Elevatote

Owen-Itiinola Glam

Oxford 1uper Co.

Elec

Pastile Glenwi Pan American

Paramount Pictures

NEW ORLEANS

Cichting pribes all in cents per

Tb::

7781

Spot

Uct.

3011

20.

Mar.

May

July

MITALS

NEW YORK

Closing rates:

Canada

England,

.517

2.7075

2,7000

3,7630

1,2300

2.7776

South Africa

1.3000

2444

2003

Hong Kong

1740

LONDON

Closing rates;

New York

Montidal

| AmpstersianS

Copenhagen

Brussel

Trankfurt LIUOTI

in early July against 370 veksejs tons idle at the

a voyage to Japan offer start of June. a £100,000 "facelift" and installation of air-condi-ted the picture. It moved up to

tioning plant,

Idle tanker tonnage domina-

232 vessels of 2,632,29, tons

with 223 compared

tankera month 131

f 2,202,947 tons one earlier. There were

of 362,140 tons freighters

The 14,000-ton Ilner was gall- ing to Southampton to pick up more than 200 passengers for a voyage to the Far East, begin- nitig from there on Wednesday, at rings against 147 vessels

travel She will

vla Aden, uf 700,774 tons at the start of

June, Colombo, Penang. Singapore, Hongkong, Yokohama and Kobe,

A mesure of the improve- Cathay

formerly Be

mint in world shipping in thot Belgian liner Baudouinville. She and her sister ship Chitral in July one year ago there were 003 vessels of 5,471,179 tons (ex-Jadotville) were purchased

Idle, er five per cent of the CIE, Maritime Belge world fleet. earlier this year for £1,500,000 then accounted for 206 chips of from the

of this, freighters each.

WAS

P and O-Orient today showed the four-year-old Cathay to the Press for the Arst time after its "facelift,"

It has, however, been com- pletely air-conditioned to meet the requirements of the Fár

Eant run, and elven a "new look" throughout with fresh fabrics and paintwork, A similar redecoration job is being carried out in the Chitral which will be fully air- conditioned in time for its next voyage month,

from

1.061,200 tons and tanicers then tied up numberod 307, of 3,809,013 tons

SURVEY

later For

No great structural changes | have been made in the liner, The Chamber's survey today originally designed for the ser-howed that only four freighters vice to the Congo.

built in 1950 or afterwards were No dry cargo without work, vessel built in 1934 or was without employment. tankers the picture was not sa rosy. Some 30 tankers built in 1954 or later were led up and represented better than half a million tons. Two new tankers built only last year were idle.

Britain next in July. Liberian-registered shipping casily paced the pack AP and O-Orient spokesmon of unemployed freighters with said today that since the com- 132,747 tons laid up. Italy pany extended its services to ranked second with 05,315 fons Japanese ports with the Cliftral in port followed by the United

80,481 tons in February,

Bc. new type of States with British tourist had emerged. Brilain run fourth with 09,010

PRIME MINISTER tons workicas. This was the person with

tankers, Láberian In

nar sufficient felsure to make the

vessels showed more than double Briteln round trip from

the idle tonnage of any other Japan and back.

country with 809,233 tons laid un. Norway ran second with 383.013 tons idle, Britain was ird with 368,170 tons without work and the United States fourth with 304,052 tons uncin- ployed.-UPI.

The spokesman added already It was

to

that that

clear "quite a few" British tourists were interested in the long the voyage and

chance of a sight-seeing in

1cw days

Japan.

Both

the Cathay and the Chitral are of 14,000 tons wilk n service speed of 17 and a half knots and accommodation for 240 Arst class passengers only.

Their design for warm wea- ther cruising to Africa has minde it possible for an easy transla- tion to the Far East service.

Each vessel features a ce taurant big enough to serve all passengern at one sitting, open- air swimming pool, cinema and special facilities for children. Among passengers saling Cathay from Southamplan Wednesday will be Shari! Hus- Fain Bin Ahmed Al-Habli, Prinic Minister of the Federal Government of Arab Emirates of the South. Aden-Reuler.

in

on

New company for gear

production

London.

Garuda increases HK-Djakarta flights

Garuda Indonesian Airways

has

announced that its existing weekly services butween Hongkong and Djakarta will be increased to twice weekly common- cing today.

Mr W. J. Kambey. Goruda's District Manager, Hongkong stated that the frequent and fasteel service to Djakarta and Bali (Denpasar) is a great boon 10 businessmen and tourists.

The direct flight by Lockheed Electra II takes only alx hours and five minutes and. It is the fastest service between the two cities. Today's fight CA 902 leaves Djakarta for Hongkong The UK group, David Brown direct and the return fight GA Industries Ltd. of Hud-001 to Djakarta on Wednesdays is via Manila with stopover for dersfield, England, have one hour. Flight GA 900 from joined with Richardson Djakerta arrives Hongkong via Gears Pty. Ltd., of Mol- Monile on Fridays and CA 903 bourno, Australia, to form is it direct aight from Hongkong

to Djakarta on Saturdays: d new Australion based company to be known as Richardson David

or

Gears Pty. Ltd.

According to Mr Kambey, passenger traffic statistics for Brown the past two months show a

marked increase since the in-

The agreement will permit aauguration of the Hongkong- free exchange of designs and Djurkaria service on May 10 patents and by pooting resources and the first flight a week later. both companies the now He expects a "further increase

the introduction company will be able to provido | after

of the 2.75 9/16-2,30 11/16 a comprehensive range of gears | second weekly flight. 107 9/10-2.07 11/15 | Kor Australian Industries.

Garuda maintains a fleet of Both companies have a long three Lockheed Electra lis, 10 record of gent productions and Convair and 17 DC-3s. The have been linked since 1980 present laternationst schedules: when an agreement was con- include flights to Hongkong, eluded covering the mmufac Manila, Singapore and Bang- ture of David Brown Radicon ok while plans are underway unity in Australia by for extension fights to Tokyo, Richardson Geats Ply. LIGA DORy nd Madras

near future.

10.91-10,01%

130081%-120.00

10.00-19.31

NEW YORK Closing prices ali i cents per la 1b.: 32.00 unch

Cotiper July Dept. Oct.

11.00(-11,069% D0.10-50.75

20.30

3050

Parto Blockholm Biligh VIOLA Zurich

29.9746-10TEL 33,05-13,001 302356-1039IY

71.87-71.00 1807-18.0212

UPI.

LPS.

1120.

Rebr

In the