1961-07-25 — Page 2

Page

THE · CHINA MAIL, TUESDAY, JULY 25, 1961.

WALL STREET CLOSES LONDON STOCKS

London) July 24.

Paint Industrial stocks** gulyad

ground today when iny

WALL STREET IRREGULAR AUSTRALIAN

CHATTER

New York, July 24. Joseph E. Granville of E. F. Hutton and Co. says" the market's declino since it hit its May peak is not soon to be an important one because business indi- cators are showing that the economy is "In the earliest third of a major business upswing.”

Bache and Co. saya obviously Important buying power is till Jacking in tho market, but technical Indicators suggest that

one

of

intonsivo wave selling may be all that it necessary to clear the alr and set the stage for an important rebound.

New York, July 24,

Stocks turned in another listless por

formance today, closing irregularly after late profit-taking cancelled a mid- day upswing.

Steels, rails and gold mining shares received a

good measure of support but many oila, elec tronics and companies which had poor earn. ings reported lost ground.

Eastern Air Line

Pullman, Inc, dropped about four on a bad six-month state-asta Kodak ment while Honolulu, Oll tell about three after postponing aj meeting to consider the ralu of Its asset. Johno-Manville Was the other major weak spot, oft

about two.

|

243

| El Paro Natura Gai

Family Finance Corp. Fatestone Tyre de Rubber fist Nat. Lity Bank 2 MITAD BATA- Ford Motor General Dynainles General Electric

General Food

Ceneral Maiore

Gen. Pub, Uul Gen. Tyre & Rubber Getty Bit Glidden Co.

Steel shares were the day's mandout group despite a slight drop in production last week,

4. F.).Co. U.S. Steel adding couple, Goodyear Tyra Bethlehem about à poing along Griman 'Afterpét,

Gulf O with other leaders.

Hammond Organ

2

אי

EXPORTS

WILL GAIN'

Melbourne, July 24. A fodding Australian econa, mint bollova that if Gri. tor enters the European Common Markof the eyor: all outlook for Australian Apports will impJOJO..

This optimistic view, contrary to the gloomy forecast of most Australlant

businessmen, was 4035

it made by Sir Douglas Copland, 11% He is director of the, Interna

tional Institute for Labour Studles in Geneva.

074

2014

included

Hayden Newport Corp. itempsiako Mining Co. Idaho Power

Ingersoll-Rand

B7%

Inard Steel Co. Interchemical Corp. Int'l Burners Machiper Int' farverler

4915

KEH

Other Arm spots Goodrich, United Shoe, Ameri- can Chile, General Precision, Bendix and Ford. U.S. Gypsum rose about three.

Polarold, Universal Oll Pre-International Nickel Those who now bellove there ducts, Merck, Kerr-McGee, Monternational paper

economic tools will be an

and copper shares Johns Manville Co. "boomlet" in the last six wenkened around a point or so. Kaiser Industries

Today's of 1961 and a

volume was 2,490,-Kentecait Copper months

Kimberly Clark boom in 1962, can't help 000 shares, feeling that semiconduc tor companies will fair very well and that other basically sound firms now in varying degrees troublo will racover woll too, according to Laidlaw and Co.

Martin

of

OI

12

total

1,233

traded, 454 were higher 539 lower.

Bonds amounted to $5,730,000. Dow-Jones closing

Minnesota Mining

Mission Development Monsanto Chemical Co.

Copland, welting av an econo- mio gdviser to leading Me beurde Investment fri, said the Improvement would

occur akandori- despite the ultimate

of Commonwealth' frade ment

He believes de- preferences. mands for Australian wool and metal would Incrense. Beef, wheal and other food markets, he said, could be expanded among Australa's Aslan neigh- bours if vigorous action

ad

RISE

Textiles

Bradford Dyers

sa

Printers Ori—IU. 1354.

Costa JP Palan & Brawlha-420

Courtsutils Ord—356.

Vine Apner Grd-371. Lanenaire Cotton Ord-598,

Brewerian

fors went after the loaðama in a gamble on the government's economic programme due tomorrow, Sellers held off, and in the rises often thin market sharp outdid the volume of businças, Engineering equities forged ahead led higher by Metal Box and Tube Investments. Steels improved and even shipping

Great Universal Ord-33m 04. shares met demand. Textiles. Crea Univerant "A" Ord-50% electricals and stores shared foyd useful gains.

iduse of Fraser Ord-584 3d. Lyonu (3) "A" Drsh=156*1344.

Spencer "A Ord-100. Tate & Lyle United Drapery Urp-470 1150.

Woolworth W.) ded.—35%, id

Unilever gained three to 139 shillings, Courtauld gained the shilling to 28 shillings and Chemical Industries Imperial jumped 1/14 to 68 shillings.

Glit-edged responded 10 Hernand"and · Improved up to £ihar Lash-316" per ocats closed at 63-13/16ths. Dollar stocks were mixed. US. Steel and Bethlehem each put on 11⁄2 point.

Shell took plls into higher. ground with a 3/2) Jump to. 122/3.

Tins fell away but gold mines came under selactive buying and improved. Coppers, firmed.

Both rubbers

and hardened. UPI..

Closing prices

stitors Co Ords d. Dulants (Arunur) Ord=420.

ina Coops-

Storea

AllscellaneoUN

Bowmaker Ord-15% 75%dt. Brit. Commonweal Ship. Ord-37a 1050.

*Canadian Pacifio. Örd-#44EL.

„Tuners Gleamulla.

31.

Forestki Lina' K TAJUus itid.

Furces Wlthy Ord÷40s 11. Hongkong China Gas--17 Hudson Bay Com-EBH Indo-China Dat. Ordi B. Land Securities Ord-204 34. RO. Steam Nav, Def378 44d. Drülen Tui Taveatment-158. Do Door Del-155a “d. London Tin Corp-10 3d,

10 d. Petaling

teas } 1011⁄2d

British Government Securities 21. Consolidated-£103/10/14

Conversion-B 1. Savings 1055/65-2006. - 1. Bavings 1960/70-78}.. 1. Baving 1965/75-209-1/10,

*Loun+£63-13010. 3. War L were

Ovetinas Bonds noted

German (Dowa)—£§215. 14: Japanese, Achsed£150.

10 taken by Australia. He

that the economic growth of these Asian nations is high.

Copland said: "I is true that some adjustments have to be 101% made with some commodiiles

BA

1749

issues

Liggett de Myers Tob. Co. Lstion d.

ay

124

Lockhead Aircraft

473%

and

Loews Incorp.

Lone Blar Cement Co.

| Lowenstein & Song.

1천35

McDermoil J. Hay Merek

Mesabi Iroa Corp.

averages

were!

30 Industrials, 082.14.

20 Rails, 135.20.

16 Utes, 114.10.

of

Van

65 Stocks, 228.54.

01

Co. the ita

10 Bonds, 83.70.

Comm. future

price

$18.22.

Gilbert Alstyne, Nool and

says as

jong maintains market position in the same trad- ing range of the last six wooks,

the implications

are favourable.

Even if there were a break

the 671-73 support through b

Jones indus-

level in the Dow trials, we would cularly concerned, adds.-UPI.

not be purti-

the analyst

Cotton market

Now York, July 24, Colton futures began the day higher on unfavour. ablo

Closing prices

Alden Inc. Acy.

Allied Chemicals

Anted Mills Inc.

Allis Chalmers

Am. Brake Shoe

American Airline

Amer. Cable Radio Corp

American Melo)

Ampex

Anaconda Copper

Armco Steel

Armour

Atia Cons.

Mining

henguet Coss.

Bethlehem Strel

Menigomery Ward Motorola Inc.

National Biscuit Co. National Cash Reg. "A"

National Dairy Prod.

National Lead

National Steal Corp. New York Central Norfolk & Western By.

index, North Amer. Aviatium

Northwest Airlines (Com.)

On Mathieson

Oils Elevators

| Owen-Illinois Glass

Oxford Papar Co.

|Peciño Gas & Elec.

Pan American Airways

Paramount Pictures

Parke Davis Co.

Penn, Bait Co.

82

Penny J. C. Co

421

2011

Philip Moril

4715

Peocier & danible Co.

24% Pittsburgh Plate Glass

11%

+21

Publicker Industries

Pure Oll....!!

Indio

Republic St

Southern Natural Gas S Southern Railway (Com)

Standard Brands Standard Oil of Cal.

Amer. & Poran. Power

Americar Cyunatald Co.

101%

Am. Mach. & 'dry,

4311

20

Reynolds Mataj

American Starting

#14

Reynolds Tobacco

Am. Sugar Itef.

2014

Royal Dutch..............

American Tel & Tel

110

Sears, Roebuck & Co.

Anierteen Tab.

Shell Oil Co. ....

18

Bufeway Stores

53%

Saint Hez. Paper

741

Scott Paper ..

Siegler Corp,

UIL

Sinclair Oil.

Balth, Kline & Frenchi

Baldwin-Lima-[am.

153

Baltimore & Ohlu

ZUL

Socony Mohit

Bendix Aviation Corp.

845

South Puerto Rico Sugar

Southern Co. (The)

4215

Borden The Co

eping Altplane

40

6114 Sperry Rand

Burroughs And Machine

but

allt. Packing Corp.

Cana. Brewers

47%

100%

Steep Rack

Sterling Drug Co.

#4

Stokely-Van Camp.

30%

Tab 0212

Texas Co

Textron Inc.

00%

Thickal Cham

151

Tide Water Ol

44%

Time Inc.

Time Inc.

4 Travellers

2015

Travellers Inc.

Tri-Cont. Warrants.....

5434

sty

10

nows crops

as hedge-soll

weakened

Campbell Soup Co.

ing and liquidation In-Canadian Pacifle R.

crossed.

Care J. 1. Co:

Cat. Tractor

Celanese Corp.

The cotton crop made fairly. Financial Corp.

good progress in the central belt despite rains but is about 10 to

21 days late.

Mili interest was reported fair

to good tur medlum grades of spot cotton.

and low

After opening Ove higher to 10 lower the list at 2 pm ruled two to 20 points lower.

New York closed 10

points

Manhat Bank

Chrysler Meters Cluett Peabody

Геса Cela ....... Colgate-Palmolive Co.

columbian Carbon Co. Commerclat Credit Anulated Edison Continental Cam Continental Oil of Dei. Crown Zellerbach

Cuban Amer. Sugar

Delaware & Hudson Co. Diamond Alkall Diamond Natl three Douglas Aircrafi

lower to five points higher while New

Anished Orleans

Dow Chemtex)

points higher to 10 lower-UPI; Dupont de Nemours

P.O

ORIENT

LINES

R.M.S. "CANTON"

EMBARKATION NOTICE

Salling for

UNITED KINGDOM

Blandard Oil of Ind.

Standard Ou of NJ.

tudebaker-Packard Corp.

Sunshine Mining

Switt & Co.

Twentieth Century Fox Film

Union Carbide

Union Oil of Cal.

185 | Union, Paciße Hallway

4214 United Aircraft

43 United Frull ........

122

United Gas Corp.

7514 U.S. Cypaum 215.3. Line Ca

via SINGAPORE, PENANG, COLOMBO, BOMBAY, ADEN, SUEZ, PORT SAID.

EMBARKATION: The ship will be berthed at No. 2

BAILS:

********* Pler, North, Kowloon Wharf. Passaii- gers should embark between 280 p.m. and 4 p.m. on Wednesday, 26th July, 1961.

BAGGAGE:

The ship is expected to sail at 5 pm. on Wednesday, 26th July, 1961.

Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 Gate), Canton Road, between 8 a.m. and 6 p.m. on Tuesday, 26th July, 1901.

SUBJECT TO CHANGE

Agents:

MACKINNON, MACKENZIE & Co.

OF H.K. LTD.

P, & O. Bldg., H.K. ・・

Tel. 86211/9.

Rubber Smelting US Steel

U9. Steel 7 PC. T

Warner Bros,

.. Westinghouse Ale Brake Westinghouse

ectrie.... Western Uulan Tel. Co. West Va. Pulp & Paper Winn-Dixto Stores

Woolworth (K. W.)

Zenith Radio ....

UNIT TRUSTS

212

but this shouldn't be an in- 78% soluble problemi Australians 29% should remember that the pro- 51 portion of our exports going to 634 the United Kingdom dropped From 40 per cent prower to 30 per cent today but this has not By prevented an increase In the total volume of Australian ex- ports and expansion at

9432

991

101

佳品

271

continued high_rále."—UPI.,

New York

sugar

Bánke di Insurance Barclays Ord-171_5d.) Chartered Bank-dia 34. Quardian Assurance--áða 34. Hongkong Bank-218 Landel Frustasta 3d. Lloyds Bank

Lombard Basking. Urd,-778, National & Grindleys 318 Ed. Prudentia Assur, "A*-C. Bank of Canada--22), Royal Insurance Ord.-150s fu.

British Petroleum-436 $d. Burmah O1-37#"_00. Shell Transport Ord-122 3d,

Dutch-12

Ultramar Company-2015

Babcock

д

Now York, July 24 World No. 8 sugar, futuros today closed unchanged to three points lower with no sales reported.

Domestic No. 7 sugar closed 491% uchanged to two points lower

with sales of 40 contracts.

21

43%2

Futures opened dull with both world, and domestic con- 3291 tracts unchanged and untraded, It has been rumored thai ad- 4044ditional operator Buying of 499 Indian wfiltes developed over the weekend at about 0.3814 cents a pound delivered basis.

T

Cuban raw sugar was offered for resale out of Germany, on a basis working out about 2.77 cents per pound 1.o.b, stowed Cuba UFI

Steel Engineering

x Ord-29%.

04.

Dorman, Lang--31. Guori. Kern Ord-004 155. Harland & Wolf Ord-16s lotso. Metal Box=80 10140. Sreet Co. of Wales Blewarts & Lloyds Ord--45s Dd. Summers & Sons Ord-Bla 3d, Tube Investments-das da United Steel-55s. Vickers Ord-s 111⁄2d.

Electric

Assoc. Elec. Industries 38 66. Birmingham Bound=371. Brit. Electronic

Elcc. & Mules 37

English Electric Oid-32 General Electrio ·

00,

Jd.

Lamp Work & 10-2/19, Rediffusion Ord-30 3d,

Industriais

Rhodesian Anglo-Amer. Ord-56

hokona Carpad. Rio Tinto Bearer)-dis 7150. Bean Antelope Copper-de Black Trenon himes-138d xd Union Corporations 1994. Welkom Gold

Western Holding-201 Du

Southern Malayan Tic—33s.

Rubber & Tra Anglo Indonesian Plants 3d. Ceylon T Gods23a öd. . Imperial Tea

--34 3d. Kuala Lumpur-kon Lambak Rubber 3,

Kleuter.

----

Chicago

grain market

Chicago, July 24. Most grains advanced today on the Chicago Beard of Trade, although nows that the government will sell sorghums of market prices caused selling in foed grains.

Wheat closed up 1 to 14. soy- beans up to 2.

Active demand from mills and

Asoc. Portland Cement-772 10140.commission hoses raised wheat Boardman Marden Ordul T Borax (Holding)-17 d. Decca Recorda Ord-504 9d. Dunlop Rubber Ord-25% 30.

Ord-45% 10d.

Chaman Holdings) Ord- 10154. International Computern-Big $3. Turner & Newell Ord.03% Flad. Unilever Ord-1s.. Wiggins Tenpe Ord--50s

Chemicals 40 Imperial Chemical Ord-60%. Monsanto Chemienia Ord-3]k.

Television

Cinemas Assoc. Brit. Plesures-s. Hank Organisation Ord-27. Stol Theatre per

Bowater Paper Ord-55% 30. De La Rue Ords 04.

"

Spicer Ord-47 30,

Tobacco Bellah-Amer, Tob. Ord-00s.

Ord-ga 4140. Imperial Tabayen" Grd-fi.

British Mater

14# 10145. Hawker Siddeley Opd-39%, - Jaguar Cars Ord-98 71id, Rolls-Royce Ordutik, Westland Airerary—te de.

·

futures. Hedging was slow, ow- ing to weekend rains which hindered harvesting in the mid- west.

Airfreighters fly more than a miles million

Armstrong Whitworth Argosy airfreighters — on which manufacturor's develop- ment flying has just ended -- have flown more than a million miles since the first aircraft flow two and a half years

ars ago.

HONGKONG STOCK EXCHANGE

by

Our Own Correspondeat

Business done on the Hong- kong Stock Exchange this! morning amounted to approxi- rately $1,400,000. Noun quota tions and the morning's transactions:

shores

HK Bank ..

HK Bank

Last Reg. E. Asia Allied in. Whart

Wheelock Wheelocic

1

Buyers Sellers

Ada

Balan

280 ( 396 30796

20 + 300

1 110 1000

2.63

2500

4.00 1500 2.00 v2.80 1500 20 22825 $300 2,85 HK Dock 111 113 1600 11 Taikoo Dock Provident 334 334 1000 ( 3014

1900 # 331

1000 335

46

-500 re 4514 1000 45

Hotel.. 4512 Lanity 2.00 2.03 15000 8 2025

K, Really

(Now)

No HK Tram

International tensions ani expected boosts in 1982 support prices also helped wheat, export sales were reported, but offers went out in Portugal on nearly two million bushels of KM.B. hard and soft red wheat.

Processor buying lifted September soybeans more than | a cent

The U.S. visible supply of when't this week increased by

17,494,000

total 'bushels to 477,325,000 according to Board Soy. of Trade statisticians, beans last 8.208,000 to leave 13,557,000 bushels-UPI.

COMMODITY PRICES

RUBBER

LONDON

Closing prices all in pence

Seillement house term:

American Contract

Mixed Contract

per ib.:

July

77

No. 1 Res sput

2415-241

10214

-UPI.

Aug.

#411-24T

Mer

July Bapt.

May

Cut Doc.

July

Jan/Mar,

Oct.

Apt.Aune

July/Bept.

Fleet Hongkong Fund: $1,81 (buyer) $1.39 (seller),

Second Hongkong Fund: $8 cents (buyer) $1.04 (seller).

AMERICAN STOCKS & COMMODITIES

WHEN TO

"SELL

יו

General markets, c.11. basie, port AUR.

2413-201 Blept.

241-294 Eists crepe thân Aug,'s

thick Aut... 27 AMSTERDAM

Closing prices oil in guilders

per kilogram, c... Aug.:

No. 1 rubber

No. 1 rubber

No, rubber

No. 1 erepe

***

3.27 buyers

3.25 buyers lb.

224 buyers

2.30 buyers

COTTON

"NEW YORK

-UPI.

SUCAR

NEW YORK

Closing prices, all in cents per

Contract No. # (world) Oct: 1; Mar: 299, May: 339: July: Sept: 200; Spot (World

Average: 3.00.

Total Balen: None,

Open Interest: 831 contraeis.

Contract No. 7 (domestic)

Bipt! 6.58; Nov: 628; "Mar: 0.24; MAY: GRAY July: 020; Spot¬(Bulk, auty paidy: Cak

Total Sales:"40 contracts,

Open Interest: 2.020

UPL

prices all in cente

0440

35,00

contracts.

METALS

NEW YÓNK

Closing prices all in cents per

Closing

per Ib.:

Spol

Gel.

Dec.

To,

Mar

MAY

PROTECT PROFIT

July

Oct.

CONSERYN

Dec.

PRINCIPAL

NEW OR Closing pric

in cent b:

per Ib.:

Bpot

12.16

July

Det

34.00

Sept

10.00 1030

Ded.

30.17

Mar

10.10

May

1170

Ju

Copper

Put

Yuty

Dec,

"Closing"prŻOWE

In pence

Krosarch Dept.

PERENNIAL TRADING CORP. 916-418 Rambut Hous Fong Kong

LONDON

Yaurack

Ch. 24ght

Electric

HK Tele.

JUK Cox

dilman

Jardines

0.1. Cement" Dairy Farm

Textils

Nanyang.... Amal lub.

4154 4124

600 F 7445 GOOD 2.50 27000 2.625

3250 6 255 100413

100 42

0 20% 1000

300

All ten Argosies which Armstrong Whitworth Aircraft built in a £13 million private. venture have now been de- livered, or are being prepared

for delivery to the first two customers-Riddle Airlines mo. of Miami, Florida, and Brillah European Airways,

Six of these ten aircraft were used on development flying and between them lögzed 2,200 hours in 1,434 Alghts involving '1,251 landings. Riddle Airlines' first three aircraft logged almost as many hours in three months of operational dying as the total flower during development fly- Ing.

Armstrong Whitworth say that with the development fving on the military Argosy C.Mk.1 and Riddle's operational flying, more than 5,000 hours have now been flown on Argosics. Throughout all this development and opera- tional flying'an extremely” high rote of serviceability 28 emerged as one of the Argoxy's outstanding features.

The aircraft which opened the Argosy development programme first production aircraft G-AOZZ-also carried out the final tests, These were a 'series of Investigations resulting in t successful solution to minor ‘aldų cracking problems in the tall drea and trials at a maximum

landing weight of 84,000 lbs. compared with the certigeated weight of 80,000 [bs]

This increased landing weight will greatly assist both Riddle and BEA and an amendment to

the Type Certificate' to cover the increase is now awaited!

·Development and production

test flying will now be concen- trated on the Argosy C.MK.1 until the Argosy Scrie? 200 with Rot box-apar

250333

-30% 40% 2000

20.50

41 4135

07.03

0:33

Stub. Trust 7.70

Closing prices, all in sterling Kelantan ...

per long ton.

Tia apot

3-month Copper spot -montif Lead spot

3-month

Zing spot

i-monit

City Hotel 40%

Aincere

Int'l invest

15.80

Bayers Kellors

Dock

Mine

Rope

2558

924

Ifetal

2342

FOREIGN EXCHANGE

NEW YORK Closing rates:

My

,00-15/10

2.7005

Canada

Bagland,

official

DO-days

2.7300 2.7500

Austrália

New Zealand

Bouth Afrles

Belgium

Dark

France

W, Germany Halland

Norway

Bwede

Bwitzerland India Hongkong

LONDON

Closing rates; New York Montreal Amsterdam Brumole

Copanjiofor

Blockholm MHIGH

Ruleh

2-2285...

7703

Amoy

Lane Craw. Construation 10.70

wing and other Ime provements begins Aying' in 1003.--LPS.

Engines for HK yachts sold in U.S.

ROW

Marino diesel enginos bujit by the U.K. firm, Perkins Engines Ltd., are being fitted in Hongkang- built yachts on sale in the United States.

The design and construction of power and sell yachia bulit în Hongkang are being promoted 1035 @ 4114 · | by Balboa Marine, a'ynicht sales organisation based at Newport Beach, California, The .s. Bim is at present concentrating on the production "of a 50 ft. palling yacht known as the Lap~- worth Fifty. The Füchts are fitted with Perkins --Four 98-

a 40% ** 50%

1000 4 2.40

500

Health citation for APL

| diesel engines with a 2:1 reduc- tion' gearbox supplied and Installed by the Hongkong bulldor; Cheoy Lee Shipyard.

Mr John Granath, Bilbao Marina's tales manggor. zaghe "We are greatly impressed by the performance of this 60 fooler. With a three bidde (17– inch x 10 inch propeller the yachi deveteps 64 knots at 3,000 г.p.m."

4

The Lepworth Fifty has a strip planked mahotany huit, 'Abre- In recognition of American gots decite over marine plywood, President Lines" contribu- | with teak Interiör fillings. Other tion to public health, a equipment includes an alumnium special citation was pro-nast, roller reading boom, bow sented to the Company in and stern pulpite with stainles steel felines, - stainless staci San Francisco racently by rigelbe and gimballod stove- Abraham Ribicoff, LPS. Secretary of Health, Education and. Wolfara in

· Prosiduot ́ ́ Kennedy's Coblast.

The feet citation, awarded to

APL for the third consecutiva

Tanker handed over

to owners

year, is for outstanding per- The single screw steam tur-

ม.

formance

publis healthi

board each of the Company's!

ships. During 1800, each of the 24 Iners esmod a rating of no [of above on an offiofal: Public Health Service Inspection In- 1.78 7/16-175 PE20 võlving 100 separato. Iterom” of 137 2/19-287 8/10 sanitary construction and mali 19.00-10.99 1RRY CID:554

1100-10.00

EL

tenarice.

;

bine'fanker Clymeno con«' structed: by Hawthorne Meille (Shipbyllders) Ltd., Hebburn on Tyne in North East England, hús baan" handed over to the Hadlay Shipping Co. Ltd. Londen.

APL's President George Killion) congratulated the operating pef she completed final tilnis off sonnel aboard wil the shije for the Tulver Tyne early in July, thole diligent efforis, to deep the] The *16,600-ton)| deadwèla?

high standards of jolaselinom, kisker has been "Mopedske {füst | resulted in this highly ideegned_to, curry' petqiell

prized Awaril.