W
}
New York stocks fall again
Now York, July 18,
Stocks declined for the second consecutive time today, this time
on somewhat heavier volume.
declines showed Strep
kui paputor market Indient with ut the prices still going down bell zard volume running roughly a quarter million shares above yesterday's pace.
The narkot found Ittle of the had expected, support brokers
Industrials 43 Duw-Jones 30 moved down closu to the 600 wa which has not been com- promised in over three monihu, Today' volume was 3,010,000 silares,
or a total 1,257 inues traded, 215 were higher and 744 lower.
American exchange
was 1,030,000 shares.
volume
Bonda volume amounted to $0,800,000.
Dow Jones closing averages: .. 070.30 off $.25
30 Industrials
20 Rails
15 Utilities
65 Stocks
134.57 of 1,08
113.58 of 0.23 225.52 of 1.44
The most active stocks traded
on the Exchange, sales, closings
and net changes respectively:
IT
53,500 Amer Motors-up 4.
Baldwin Lima Jamilton Bendix Aviation Bethlehem Bleri
Boeing Airplane
Burden Co.
Borg Warner
Burretigha Cora
Canadian Pacille Railway
30%
وا الدالة
Halo Corp. Raytheon Co. Regub Steel. Reynolds Metals
Reynolds Tobacco
ovat Dutch Peiral
THE CHINA MAIL, WEDNESDAY, JULY 19, 1961.
COMMODITY
PRICES
METALS
NEW YORK
No. 2 Aust.
No. 3 Aug
No. 4 Aug.
Spol rubber unbated
R346-BO
American Contract
July
미
Det.
8513-00
Dev.
Inkel erepo
71-73
Mar.
No. 1 pale stepe.
03-91
LONDON
July
Closing prices all in peace per
Mixed Contract
2. 1. Has kpl...
231-252
July
In 05
Betilement une term:
20.38 1
Atry.
July/Bept.
Ocf./Der.
11:30
Jan./1
20.10
Apr./June
2005
July/Sept
Closing prices all in cents per 1.
lib.:
Ira July
Sept.
Zine July
Sept.
131
4416 opt
July
LONDON
Genaral markets, c... bas, ports:
Closing prices, all in sterling Aug
401
per long en.
Ti apert
3-month
Copper aut
3-month
Leo spot
3-month
Zinc pet
3-menth
Be01.
104
PDA
Estale crepe thin Aug.
P10
#17
233
05
771
Nu. rubber
73
72
No. 2 rubber
UPL
No. 3 rubber
July
save be
LONDON HONGKONG
MARKET
STOCK EXCHANGE
Our Own Correspondent-
RISES
25,0)
UPL
London, July 18.
Duriuose done on the long- Industrial stocks bounced kong Stuck
this Exchange back today from yester¦ morning) amounted to Op- Noon $3,490,000. day's fall scoring small proximately gains along a broad front quotations and the morning's
transactions: with the blue chips im- proving by up to 1/68.
The rises came
from a hall to the recent selling spate rather than buyers moving on the depressed market and bear euvering operations helped ite response.
lik Bank..
Boyer
484
Heliers finlan
100
40410
IPD.ar 408
10 6410
40 G 400
G04 40G
240 T 400
Lombard Allied DIC & FE juvust.
Inv.
25
500 + 25
400 g 25
Wharf
400
230 409
Wheelock
13 13.10 1000
3300 13.20
(Rights)
3
3.01 2000
FORLICA
Bitick Aug
AMSTERDAM
Closing, prices all in guilders
per kilogram, c.3.f. Aug.
1.30 buyer,
2. buyers 2.27 buyers 254 Iniyera
017.
NEW YORK
Closing rates:
Canada
Belgium
Det mark
France
Holland
Norway
Sweden
No. I crepe
Engianu onal
W. Germany
07: 12.7350
.0201
1444
2001
2705
1303
1930
2310
Alumiatum Lida Aleminum Company Amerada Petroféuni Americon Airlines
60%
Amertesa Can.....
4113
American Cynnami
427
American Motors
JUST
St Regis Paper
American Smelt & Refo.
0412
Sears "Hoebtick
American Suger
Shell Oil
American Tel & Tel.
1184
Shell Transport.
American Tobiero
POP
Sinclair On
Anaconda Company
441%
Sucony Mobi OI
Armes Stret
751L
South Am Gold & Pist
Armour & Company
5112
South California Edison
Associated Dry Gunte
Southern Ca
Allante Bening
50
Sperry Rond
Standard Brande
1315
0124
Standard | Catorni
Standard O Indiana
40
4015
是
2012
3514
Cerro Corp
J
Chrysler Corp
43%
Switzerland
Cities Service
53
Coca Cola Corp
1974
Colente Patinolive
all in cents per lb.:
T
Commonwealth Edison
As
Limited Alterall Corp.
REK Standard
Contated Edition
77
United Airlines
July
29.70 29.01
Closing prices all in cents per
New York
Closing rates:
2.70 9/10-2.78 11/18
Continental 00
United Fruit
Sept.
28.71
20.60
Jb.:
Montreal
2.00 15/10-2.87 šiš
Corn Products Co.
54
Crane Com1g8113
(14
(1.5. Industries
Nov.
20.40
20.24
Spot
34.85 nom
|
Amsterdam
Crown Zellerbach
US Line..
Jan.
29.30 20,23
Oct.
34.41
Brussels
1 Rubber
Mar.
29.20
Dec.
34.03
Curus Wright ...
11934
Mar.
33./90
J
18 Emelt & Refin
May
May
30.00
US trel
7010
outs
BINGAPORE
July
35.70
Dzin
76
Warner Bros Pictures
0344
Oct.
4.60
Farin
DuPont De Nemours
200
Western Union Tel
1234
Westinghouse Electric
cents per lb.
Lo.b. Malayan
Dec.
34.80
Stockhoir
Eastman Knok
Yale Tyne
3334
porta:
Man Vienna
Youngstown Sheet &
No. Aug.
Ford Motor că
1134
Zenith Radia
15014
Market Tone
No. 1 Sept.
6014-60%2 0035-002
ib.:
lower
metal Electric
3.010,000
Cane, J. 1. Co.
Celanese Corp A.
53,380 Gen Motors 44% off / DIS 18,100 Standard Oil NJ 43 of
Dow" Cemical.
37.400 Bethlehem Steel 30T Eastern Airlines
33,200 Ford Motor 833 up k.
30,300 Sperry Rand 20 off is.; 20,V09
*081⁄4 up 1%.
Studebaker Packard
Food Machinery
General Denansies
General MES General Motors
27,800 Ampex Corp 10% off General Telephone
1.
25,600 Aveo Corp 23 off 1⁄44. 23,800 Gult Of 35% off Ya.
Closing prices
Allied Chemical Corp.
All Chalinera
то
-UP.
$ 503%
5
ODITIES
WHEN TO
SELL
PROTECT PROFIT
CONSERVE PRINCIPAL
Bemarch Dept. PERENNIAL TRADING CORP. 816-01 Edinburgh House Hong Kong Tel: 24949, 38364
Now
Georgio Paclike Corp. Getty Ou
Ballett Co
Goodrich, 1r Co.
Goodyear Tyre
Grge W.. Ce
Gulf Oi
Bizet Rand
Ind Brunesa Mach
toll Harvester
and Nickel
1st Paper
5 Te Tel
Jones & Laughita Kalker Aluminium Kennett Copper Libby Owens Ford LIKACI & Myers Lockheed Alre
Lone Star Cement teribara, P. C»
Martin Co
· Metro Goldwyn Mayer
Standard O New Jersey
Stanford Oil Ohlu
Sterling Drug...
Studebaker Packard
Texaco Inc.
Thompson Haino W.
watery Fox
Trans World Airlines Union Carbide
Lela Oli Callfornia
445! Untern Pacific
|_ RUBBER
NEW YORK
Rubber futures closing prices,
Tatal Stock Sales **.**.
BANK STOCKA
1492: Bank of America .. 507, bld 01% ax
Chase Manhattan.. 781% id 81% anx First Nat Beaton
Purt Nat City D bid £47; ask Morgan Guaranty
120bid 123 ask
-AP.
New York cotton
Now York, July 18. carryover of Monday's buying extended gains in cotton futures to almost 50 cents a bale today.
The market
then dropped
back partially on profit-taking
A
50%
3342
Merck & Company
03
543
Minneapolis Honeywell
136
Mhmesota Mining de Mig
77
Monsanto Chemleal
522
and hedging
Montgomery Word
oore McCormarx Liner
31%
Lomo deliveries reached
but not before new
Motorola Inc.
highs for the season.
National Blacuit
70%
National Cash legister
0475
National Dairy Prod
National Distillers
National
National
New York Centri
Northwest Airlines Ohio Olt
Qun Mathieson Che
Pacifle Car & Elec.
Pan Am World Airways
Paramount Ptetures.
Pennsylvania B
Pepsi Cola
Pfizer, Cherien Phelps Dodge Philip Morris Philips Petrol Pure O Quaker Oat
15
all
The rar was based on the uneerlain new crop cutlook and expectations of a heavy flow of cotton:
Into
Lic government loan next season.
About 20,000 bales of straddle October and ̈ December 17 against short May were qui- dated by New Orleans interests
New York opened 13 higher to ning lower and closed three
to higher
18 lover. New three closed points lower.—-
12
42!
30% higher
Orleans futures
UPI.
to 29
Closing prices all in Stralts
COTTON
NEW YORK
LIVERPOOL
Copenhogen
Frankfurt
Liston
Closing prices all in cents per Zurich
LONDON
10.01%-10.01
1338 0716-138.724
10.31-19.3114
11.00-11.091%
00.10-80.23
19.0715-10.10. 15.051-13.654
14.30-14.30
172014-17293% 71.80-71.01 12.0315-12.0232
UPI.
SPANISH PESETA TO British gain
BECOME FREELY CONVERTIBLE
Madrid, July 18.
The Spanish peseta will become freely convertible into "United States dollars or other converti- ble currencies," according to a press state- ment issued here.
in tractor
exports
London, July 18. Foreign salos of British agricultural tractors in the first quarter of 1961 gained ground faster than those of its main competi- tor in this field-Western Germany-the industry's will London that the Spanish peseta association said today.
has become convertible for
Sales to France rose faster as from today- than those
of Germany and been formally British tractors won a bigger previous rate of
share of the expanding
The
measure, which uply to peseta accrunts held by foreign companies and in dividuals and Spaniards living abroad, will not enter into force unt!! the publicallan of detalled regulations by the Institute for Foreign Currency. No date has been set for the publication of these regulations.
non-residents Its parity has fixed at the
Swiss
saics were
60 to the dollar, with interven-market. They gained in Finland lion limite of 50.40 10 60.60
too where Germina (ono percent either side of par) inclined to fall. us compared with the previous
Belglum, Italy and Portugal limits of 59.85 to 60.15.
encli bought more German tractors that The announcement attributed
British, but to RESERVES INCREASED the move
Austria, Norway to the
and favourable; evolution of the
Spanish He epalinued that in effect, British shipments have
Spain has
the While West German thus joined Reuters Financial
shown a slight decline. Editor systems of non-resident conver- writes that it is understood in tibility which Britain and other
"Outside Europe, Britain has done well in Argentina where countries
the German sales have fallen", association SCHER
cecuciny.
JAL's New Service from Tokyo to Europe
COPENHAGEN · LONDON and PARIS VIA THE NORTH POLE
DC-8C Jet Courier
JAPAN AIR LINED
Consult YOUR TRAVEL AGENT OR!
JAPAN AIR LINES
NTAKSHING HOUSE, RO DIS VOEUX RD. C. TEL.28043-(5 LINES) PENINSULA HOTEL. KOWLOON, TEL.GQAA0, 64023
Western
European established at the end of 1938. fluctuation limits of onc
The per
Greece grown sales had
cent are the standard İatitude under the International Tractor exports advanced in Monetary Funds rules, Most May together with those of countries use rather less than spares and implements. Tractor the full Olle per cent for export sales in the first four example, Britain 0.71 per cent months of this year were eight and Germany 0.75 per cent but per cent higher than in a com- Switzerland, not member of parable perlod a year ago. Com- bine Harvester sales also TC- covered some of their
logt
IMF, has niuch wider margins.
The
Sputn 15 1 member of ground European Monetary Agreement
cum total of Britain's which the Western European agricultural engineering exports [countries have been operating for the first five months of 1061 since their convertibility move were five per cent up on last in 1956.
year's performance
this period-UPI.
Reuters Financial Editor sald with the promulgation of non- esident convertiblllly- at д denite dollar parity rate and with dentalte Intervention points, she is now on the same busly ag Britain and Germany and other members. In August 1959 she drew $24 million credit from the E. M. A. but repaid it last January.
very
of
Since her currency reforms, Spain's reserves have increased greatly, relatively faster than those of any other country. She thus appears well able to maintain Д convertible rency--China Mall Special.
cur-
SHELL OFFERING DEBENTURES
New York, July 18. The Shell Oil Company is offering $200 million of 25- year debentures this week, one of the biggest corporate issues this year.
for
Favourable trends in
U.S. economy
Washington, July 18,
of Commerce Socratory
Luther H. Hodges at a news conferenco today disclosed favourable trends in the economy. In Juno.
He said personal income in June was at an annual rate of $410,500,000,000 which $3,500,000,000 higher than in May.
The June total was $13,500,- 000,000 above the recession low in February, and $10,000,000,000, higher thinn the pre-recession peak reached last October.
in
The rise in Jung centred in The debentures will be han- wage and salary disbursementa died by an underwring group which accounted for four-Arths headed by Morgan, Stanley of the overall advance. Wage and Company.
and calary disbursements Other new offerings are $12 June were up $3,000,000,000 million of debentures of Auto from May and the annual rate matic Canteen Company of in June was $200,000,000,000. America, $8 million of bonds and 140,000 common shares of
DURABLE GOODS
Northwest Gas Company, $1.5 Most of tho gain in manu- million of Arkansas Valley facturing wage and calary pay- Industries Inc, convertible, de- monis was in durable goods bonturen and $2 million of industries, which had felt the Vinco Corporation convertible greatest impact debentures-China Mall Spe-lon. Largest increases were f the primary metals, aulo- motivo, and metal working groups.
clal.
UNIT TRUSTS
(buyer) 3141 (seller).
Second Hongkong Fund: (buyer) $1.00 (seller).
of the reers-
Hodges amid that ho was not fearful that the business Upturn would cause inflation and cald he thought the possibili
of
First Hongkong Fund: $1.33 Inflation would be kept under
control. He did that the pro $1spect for large-scale production will cause competition--UPI.
cure
The feeling also grew that dealers and marked prices down too heavily in advance of the government's plans to Britain's econcile maladies and current prices
mcant yields of up to five per cent on top-ranic equlties.
often
Steel stocks made headway, engineering counters and motors
| improved.
textiles and
Stores,
рарего, property stocks
joined the partial recovery.
GILT-EDGED
unsettled
400
====$ $′′ ૪૩૯
Duck
113
114
Talkoo
73
Ch. Prov.
331 3315
1000 43
SS.
Hotel
401%
47
300
Ink Land
7416
73
1200
HiK_enity
(Dist) ....
2.63 2.672 3000
10000
25000
5000 + 2.65
(New)
HK Tra..
2.525
41%
2.60 500 2,83
300 42
1000 .42
500 6 41%
KALB
80
#1 30
100
firmed
1010 8014
1100
Youmati Ch. Light
137 QU
134 1200 194
315
200 63012
200 301
Gill-edged were showing scattered Jorses up to £1/8th despite a stronger pound. Wall Street's overnight solback sent dullar stocks downwards but most losses were fractional.
Germans and Greeks
In the foreign bouds sector.
Gold mining finance houses showed occasional goins, Cop- pers were quiet and tins irregu- lar.
Oils
mostly crossed the Bnishing line a shade easier after narrow movements, but British Petrol improved 0 pence to 47 shillings,
42
1000301
3000 630
UK ec.
40 40
000401
1200 a $0
10040
Teas held mainly steady while Telephone. rubbers were duli.-UPI."
Closing prices
British Government Securities 2. Consolidated-317.
Conversion-£62k.
3
3
Conv
Savings 1055/45—£DC-7/10. Savings 1960/70-2777. Savings 1093/16-68?%.
Qversens Bands
6. German (Daw£150,
6%
Japanese,
Banks & Iorgrance
Barclays Ord-70s Dd.
Erit. Merchants Insur-aza Dd. Chartered Bank-31s 14. Guardian Arsurance--475 9. Hongkong Bank-218%. Landel Arust434 Bd. Lloyds Bank-60 34. Lombard Banking Ord-10 7d Prudential Assur. “A”-222-1/10. Royal Bank of Canada-£27?¡, Hoyal insurance Ord.-181a vá.
British Petroleum-71x, Burmah O—361 34. Shell Transport Ord-1883 3d. Royal Dutch-£118s 3d. Royal Dutch~£ 12-3/15. Ultramar Company-21 djkd.
Steels Engineering Babcock & Wilenx Grd-285 80. Colvilles Ord-50s 114d. Dorman, Long-d Guest, Kaen Ort-57%. Itarland & Wolf! Ord-164 415 Stewarts & Linya Urdan 34. Summers & Sons Ordf 04. Tube Investments-in Ed. United Steel-sus ad. Vickers Ord=30# 03,
Electric Asoc. Elec Industries-371 0, Bril. Electroatę Ind.-19. Id. Fire, & Muz. Industries-dir. English Electric Ord)s. General Electric Ord-Jl Dd. Philips Lamp Works£10-3/10, Rediffusion Ord-378.
Industrials
Assoc. Portland Cement-778_1148. Boardman Alarden Ord da Hadi Borax (Holding)17s Tid. Desca Resorts Ord-284 00. Dunlop Rubber Ord-254 (411⁄2d. Gimman (Holdings) Ord-0. International Computers-Éle Dd. Timer & Nawali Ord-61# 7150. Unilever Ord=-125x Od. Wiggins Teape Ord-078.
Chemicals Imperial Chemieni Ord–69% 1014d. Monzanto
Chemicals Ord-20s,
Television Mass Empires Ord-s 1950. Bank Organisation Ord-Si, Boll Theatres-78.
Paper
Bowater Paper Ord-634 5d. De La Rue Ord-028 3d, Spkers Ord-10s Dd. Tobstrus British-Amer. Tob, Ord-635 DC, Gallaher Ordis 3d. Imperial Tolineco Ord-
Motors
British Motor Ord-14. Hinwker Siddeley Ord-298, Jaguar Care Ord-06 2015. Rolls-Royce Ord-438 8d. Westland Aircraft-17 30.
Textiles
Headford Dyers-17 d.
31.
Printers Ord-12$ 7LES. Cants (JP) Paton de Baldwin-19
3dCourtaulda Oru-JBA 7144
Fine Spinners Ord-25s DJ. Lancashire Cotton Ord- 4d,
Breweries Platillers Co. Ord- 750.
074-81
Guinness (Arthur) Ind Coope Oromia du,
Great Univa Store S
Great Universal "A" Ord-40 34. House of Fraser
Lyon (3) "A" Order 04,
Marks&Spencer "A" Prata, Tate & Lyla Ordis ddi United Drapery Ord-413 5d, Woolworth W.) Ord~ 10. Dawmaker
Brit. Commonweal ship. Ord.--300 1d.
Canadian Pacific Ord- Canard Steamklip Ordna_ad,
Land: de Tunber-13, as, rpses Wijhy Ord-3. Hongkong & China Gas-17a, indo-Chtria Der." Ord-dis-60, Land Becurities Ord...TH T P. O, Steak Nav. Def€ 70.
Minta
Drillans Tin Inveruhent-43 0. De Elders Def—1224 80. Landori Tin Corp. De Bid. Mouri 1g--31# Vid.
Petaling in 10 31.
hok pha Care
Jo Tinto
સ્વ.
15
Ruda Antelope Copperede ad. Union Corporation-dis dikd. Welkom Cold Mining-1Ra Dd. Wastern oldings-10% di
Anglo Indollegien Pisht-maa zet Ceylon Tej Uni-DI Supprimi. Tea Ondulie 23. SCUBA LAMOURK#ROPA BA Labbak" Nubber-fra" da,
*flruter.
300
2000 + 401
24014
300 401
100 40%
400404
5514
64 133 5015
3100
2300
200 50%
HK CA. 22.00 22.00 Gliman ... Jardines
700 22.00 1000
805 6.10 2000
20.00
500
01 66
C.I. Cement
Dairy Form 414 41
Textlic
500
1800 42 3000 431
LEAR
Nallyang
A.
7
.. 11.00
Nubber G.ES
7.20
2000 7.
3000 i
632
1000 * *
Hotel
23007.1 1000 8 11
1000 80
5000 6.80
1000 G7 0.13
4000 GI 6.80
1.83 10000 14 7.0 10007-0 42
R. Trux** 7.00
City Humphreya 20.00 27.10 1000 5 27:30
Lane, Craw 49 4915
ID.00 10.10
Int Inv. Sincere HK Rapo
B00 27.10 100 or £0 3000 mm 1012
World
rubber
market
Rox
Now York, July 18.
rubber futuros today closed 15 to 28 points to higher with salos of 16 contracts. Standard contract closed 25 to 40 points higher with sales of four contracts. Steadiness at primary markets brought scattered support into rubber futures. No. 1 sheets 29% cents, 2 sheets 29%, 3 sheets 29, and 4 sheets 20%-al un- sold.
Some business was done by cables.
No. 1 Rss 30 cents and cur- rent month 30 conls.
In
Singapore, with rather mixed overseas advices prices opened about unchanged from the previous final levels. Buy- Ink Interest soon began to steady prices and with air de- mand for lower sheets.
In London, the rubber mar- ket closed steady with spat 3/10 up at 2514 pence."
Amsterdam, the
In
was steady today. UPI.
market
Agreed merchant
rates
Canadian $ máximium selllag 174, minimum buying 16 T.T 10-1/10 O.D.
Swiss France maximum 'sell- ing 7444.
Exchange rates
Bustreza was done in the longt unofficial Exchang market morning at the following faten:~~ V. dollar per $1)
Minziin Totes (per £D: Avarren Dates: (per indenistan rupiah (per 2001 Bkigapore (8\u100).
г
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