1961-08-02 — Page 12

A

! Page 2

THE CHINA MAIL, THURSDAY, AUGUST 3, 1961.

Wall Street continues HONGKONG

Poor reception

Owing to poor radio reception, only

mited Amount of Untied Press commercial news'k

received

today.

Waa

for publication

Britain's gold reserves dip

London, Aug. 2. Britain's gold and foreign currency reserves dipped by £114 million in July to stand at £876 at the end of the month, the Trea- sury announced today.

This was the largest monthly) fall since December 151 when the serves fell by £133 +- Tion due to the strains of the Korean War.

The drop was not as drama- tie as the figures showed, has ever, authoritative suurees paid. They said that

during

to advance LONDON

New York, Aug. 2.

The Stock Market continued to rally and was at an all-time high early this after-

Trading was heavy,

noon.

At noon, Standard and Poor's, US

Smelting U.S Strel

300 stock index was at an Warner Bros. bistorie high of $87.53, 14 cents | westinghouse Electric

of Woolworm (t. Wo above As previous record $07.39 set on May 17.-

The S&P 425 industrials, which set a new mark of $71.35 on Tuesday, were up 17 conts to $71.52 at noon.

The Dow Jones 30 industrials,

which also set a new high on Tuesday, were up 1.85 at 715.79.

two

the volume for The marning hours totalled 1.820.000 Mares compared with 1,200,000 bares traded in the period on Turday,—AP.

Closing prices

Allen Inc. Acy. Allied Chemicals All Chainers

Ametlen Aune Ameen Metal

24%

the

Americast Smelting Amerier Tel & fri Americas Tob. Antenda Copper

0331

with 2-itain repair thy Euro; peach

(government) evatral

lanks for some at the sterling L, Mining; holdings they had arcunilates aftaltimore & Ohio under the Basle last March

when

currencies nn

Bethlehein Steel agrevanen sitten. Brewers

the banks į Canadian Phelde R. agreed to co-operate agaitest Chrysler Motors

'ca Coin

0014

ancial Credit

473

TO

Ta elual trupe of the

run on lending

the exchanges.

Bri-Crane En

* tish repayment wies not given

U

New source of

'naval stores'

London, Aug. 2.

The world may got a new

† Consulated Edison

Cuban Amer, Sugar

upant de Nemours Eastern Air Le Kastman Kodeks Jurd Motor

General Electric General Funds General Motors foodyear Tyre Suit Oil

In13 Busines

Machines Harvester. Internations Nickel int Tel Tel Kenecolt Copper

tion Ind.............

dickheed Aircraft

Lone Star Cement Co.

Minnesota Mining

Mansion Development

Mantgumery Ward National Cast Reg. A

source of "naval stores"-encorp.... turpentine and rosin-in the 720-square mile Bri tish colony of Mauritius in the Indian Ocean, Britain's Tropical Prochets Institute has been experiments ing with 300 gallons of pine deo-rean from Maurities to see whether would girl god commercial quality turps' and Texiti

| National Lend

New York Central 1 Elevators Theme as de Klee. Pan Amerlegt Airways Parmanunt Pictures

teng Plate Glass.. din Cerparation Repute Steel

Reynatts Tubaveo

The Department of Scientific Snenty Mobil Oil" and Industrial Research Said Standard Br today that the samples "con-Standard Oil of c'ai pared favourably with Ameri-Standard Oil of Ind

Isucard oil of N

can

prodents

and

Mauritius Sterling Dug Co. eventually hopes to improve its Stokely-Van Camp, economy by starting a heal Stonebaker-Parkani Cury. stores industry based on exisi- ing plantation."

Swift & in. Техни Со

Union Carlande

United Aberafi

stay w 1 i 20g CTO --

Y Gypoin

US. Rubber

The calony's economic main-Union Pelle Raliway

UPI.

Wheat stocks

increase

STOCKS

GAIN

London, Aug. 2.

The Stock Exchange today shook off the doldrums brought on by the Lorvativa

STOCK EXCHANGE

by

Our Own Carraspionden),

Chicago grain market

Chicago, Aug. 2.

Business done on the Hong The grain futures market kong Block Exchange

10

this AP-

amounted morning proximately $2,180,000. Noon

and the morning's

quotations transactions;

Bhares Buyers Hollers

Bales

20 382

220 40 384

13300

KR Bank

X.D......

Ja

346

10038

23 300

Con-

XD

.. Lon. Reg.

1.K. & F.E

300

24.60

300 302

200 or 312

100 300 100 302

government's

now austerity programme what and there were price ad- vances on a broad front.

These was some reaction near the close because of official Ottawa, Aug. 2.

British figures showing that Tho world's four major gold and hard zvirency reserves

wheat

held suffereri oxporters stocks on June I totalling loss of £114 million during July. 2,236,500,000 bushels,

Britista

Sottle

a record

one-month

government up three per cent from a bonds touched now lows during your dgo, the Bureau of the day's tending. Statistics reported today.

1080

Supplies were up over In the United States, Canada and Australia, but down In Argentina.

June 1 stocks by nation, with last year's figures in parentheses, Wore:

United States, 1,403,500,000 10% bushels (1,308,300,000); Canada, 2:30 | 589,900,000 (879,500,000); Argen- 100% tina.

(104,500,000);

30,000,000

90% and Australia, 147,100,000

072 (126,000,000).

802

4712

Exports by the

fcur nations

44 in the first 10 months of the year amounted

30%Canadian crop

型

311%

50%

2214

The

to 1,056,300,000 bushels.

gure was up some 29 er cen! from exports of B10,000,000 in the August-May period of the previous crop year.

53 previous

2011

100

#2

45%

1371

SP

103

Ten-month exports, with the

year's figures parentheses, were:

13

United Stales,

564,000,000 |busbels (426,500,000); Canada, 1287,300,000 (235,400,000); Argen- tina, 39,200,000 (61,300,000); and Austrália, 145,800,000 (32,- 600,000).—UPİ.

Agreed merchant

rates

Swiss Franca Iraxinum selling 74%.

Delgian Francs maximum selling 58.

West German Deutschemarks

63 maximum scling 68-13/16.

This micrometer has been made with a special head so that a blind person cau 'read' 1 by touch. A blind inspector can werk to a limit of one ten thousandth part of an inch. The Instrument-made by a Bellish firm in Sheffield—is one of the range of similar special instruments provided by the Royal National Institute for the Blind for use by blind precision laspectors Industry, it is also used by the blind operators of capstan alles-the ful damental machines in almost any engineering workshop.

AMERICAN {STOCKS & COMMODITIES

WHEN

SELL

WHEN UY

TECHNICAL

ANALYSIS

On Stock Trends

Best Dipt PERENNIAL TRADING CORP.

010-018 Fatsburgh Hous

T REM, 1934

| COMMODITY PRICES

RUBBER

LONDON

Closing prices all in pence per

COTTON

LIVERPOOL --

Cloring prices all in bence per

American Contract

11:

.:

No. 1 Die reuk ... 245-215% Heitlement Botre term:

det.

Dee.

Aug.

2014-03

Mar.

July/Sept.

241-72

MAY

Oct/Dee, Jan/Mar. AptZone

201-29

July

2015-2316

Vel.

July/Mept.

2011-2015 20%-25%

Mixed Contract

Dženerál zimckets, e... basis, porles

Ort,

AVI

2053-213%

7476-1

MAT.

Fails crepe

May

thin Aug

July

MER AUK

-UPI.

Gold raining issues wale: coppers dull, olls quietly em, inglected and Irregular.-AP..

Closing prices

Brilian Government Securities Copsolidated--£375.

213

Big, Conversion--BIRA, 3. Bavlage 2965/08-2684. avings 1960/70-15.

3 Savings__1063/15--207 33. WAT LOAN-61%%%

OVERSEAS Bonnя German Dawer]-LVL B. Absented £107.

Banks Madrance

Barclays Ord—708_94.

Chartered Bank-is. Coordion Assurance-ta DiJ. Hongkong Bank-17.5. Landet Trusts 6. Lloyds Bank--001 34, Lombard Banking Ord—16 71. National & Grindley 3d. Prudential Agut, “A”—#2214. Royal Bank of Canada-£23. Royal rence Oct. 1938,

Unl British Petroleum- Burmah 011-318 24.

od.

Sheil Transport Ord-122s Jr. Royal Dutch-212-9/18.

Ultramar Company-203 4150.

Sterit Eaginreting

Babcock & Wilcox Ord-20 1. Cuiviller Ord-66 114. Derman, Long-301 04. Gumt, Keen Ord-915 d. Harland & Woll! Ordis 9d. Stewarts & Lloyda Ord-3. Summers & Sona Ord-43 101id. Tube Invertmanin-07 10gU. United Ble=1401,

Vickers Drd-a 3d.

Electric

Assoc. Eler. Industries--356 Qu, Brit. Electronic Ind- i. Elec. Mus. Industries-30s. English Electric Ord-3 34, General Electric Ord. Phillox Lamp Works C12 Stediffusion Ord-33 10.

Industrial

Asoc. Portland Cement--70m, Boardman Marden Ord 19. Botnx (Holding)-lis dd. Decen Records Ord-60s Ed. Dunlap Rubber. Ord-258 Oct. Tisans Ord 44 740. Glimon (ntdings) Ord.-8 International Computers 30. Turner & Newall Ord-07 1. Unilever Orch-14ls BA,

Chemicals

Wheelock

To....

New)....

1 Dock, Tulkoo Back

rovidest

НК

HK Lerd

રજી મ સમ

13 10 13.30 10300 13,20

12.00

200 117

bed a 33

73

73

HK Holty

(Old)

2.626

HK Train

€12

KMT Yaunol Ch. Light

140

4013 4015

4000 41 3072

Hay

Textile

Nanyang

A. Rubber

160 2735

П

worked into a gonerally firm to strong Tange in the early afternoon today on the bourd of trade with whoot showing the only wräknats.

Calas ran to more that a cent Lushel in soybeans and to

more than two cents in rye. Mulze and pats moved up mostly fractional,

A Klackening of Boùr, mill demand brought out à modérate

of volume

proft-taking wheat, but dealers said the pressure was not great and that there appeared to be a tendency to trade tint grain from long side of the market.

WHEAT

A

טמן

1

Wheat finished unchanged to higher, bushel cent September 1.07%; maize to her, September 1.1347 September 4 higher, ca- rye 24 to 3% higher, September 1.324-4 soybeans 1% to 2 cents higher, Sepiember 2.53%-4-AP.

onts

Rise

in airline fares within Western Europe

Airline fares within Western Europe will go

up five per cont effective November 1 to meet rising costs, the International Air Transport Association has nounced.

The new fares will apply to nearly all services within the area consisting of the Unite Kingdom, Ireland, Scandinavia, France, The Benelux countries, Switzerland, West Germany, Ausirta, July, Yugoslavia, Al- geria and Tunisia.

The fare increase is subject to government approval.

Mr K A. Kristiansen, Vice President-Sales of Scandinavian Closing prices all in cents per Air-llnes System, was chair- mon of the IATA Truffle Con- bushel;

ference which renched agreement on the new fares.

19114-

20412-1

2001

2003-201 2102

100 & 40%

it Electric 411 435 109 41 £205, 41 2000 @ 4124 200 67 472

1800 (441

IIK Tel.

Wheat No. 2, red

Ex. Issues

4782

800 6: 4715 150 47 1000 £47

Spo!

100 nom

Supt High

1979.

NK Gar Gilman Jardines

21.00 21.00

B0021.70

Law

190

4.00 4.35

Close

50075

Der.

50271

Mur.

May

July

Cement

6315

પણ ન બ

1000 or 033%

Corn No. 2, rellow

40

41 1600 163

Spot

11.30

-

Sept.

01% 0.38 12000 @ 0.30

10 2

Mor

42

4214

TO @ 425

116 no 113 117-5 REL

Max

42

July

1271%

26 20.40

25.90

481

400 435

200 @ 43%

Rye

Dock

2000

"

Sept

16.40

Dec.

13091

410.

Gais

Rope

400 6 40

China Emp

Sept.

11.40

Dec.

0326-14 7316

Soybeans. No. 2, yellow

Exchange rates

Spot

Sept.

20314 no 153-

NUY.

Jan.

Mar.

257-2

R. Trent

City Hotel

Humphreys

... Craw

K Mine

Star Ferry.

Magen Elec. 13.30 14.30

Business was done in the local New York Bour

200 lb. auck

unutfiel

exeliange market this morning at the following rates:-

U.S. dollar per $1)

5,77G

14!d.

Sterling notes per £13. Australian noten (per £}) .. 171.60 Japanese yen (per 100) Cambodia riel (per 100) French new trane (per }) Indonesia

rupials Brazilian cruzeiro (per 1011.. Argentine peso iper 1001 Korean lawan (per 1,000) Ilaan n. (per 1,0001 Chinese JMP (per 1) Taiwan yuen (per 10) Mial buit (per 100) Bumere kyat ter to Prkistan rupee (per 10) Aluent pataka per 13

15.99

1.40

1.10

100%

3.40

1.90

5.00

New

40

11.02

0.65

27.10

6.66 7.10

Nower krone (per 18) Philipine peno Ther 1).....

0,393 7.70

1.50

Singapore straits per 1..... Swiss franc per i

Imperial Chemical Ord-69% 191⁄4d. Monsanto Chemtcha Chon 20 l

Cinemas & Trievician Assoc. Brit. Pictures-A£x Oil, Hank Organisation Ori-20 84. Stall Theütres-Da 101,7k.

Paper.

Bownter Paper Ort-338. De La Hue On-1s fiel. Reed (Albert Fi Ord-408. Spleers Ord-45m.

Wiggins' Teape Ord-Sia Złąd.

Toharton

British-Amer. Tub. Ord-Gün Hel. Carreras Ord- $14. Imperial Tobacco Ord-6

Motors

d.

Bellish Motor Ord-149 JJ. Hawker Siddeley Ard-30s Bd. Jaguar Cara Ord--80% 444, Rolls-Royce Ord—17s 3d, Westland Altgrafi-dis dd.

Texalint

Bradford Dyern--ity Od Callco Printers Ordin 3. Coain (JP) Paton & 1354dwise-41%

2014.

Courtaulds Ord-37 Fine Spinners

-23R. Lancashire Colton Ord-His 19154.

Distiller Co. I

Gunner (Arthur) Ord-- Oit.

ind Coope Ord-12s 10%.

RIDICH

Fitch Lovel Orl-it dat

Great Universal Cid-nha nd

Great Uruversal "A" Ord-50.

790.

Ly

Tense of Fraser Ord-50

Marks & Spencer "A" Ord-1138. Tate & Lyla Ord-Man S. United Drapery Ord-101 00 Westworth (FW.) Ord-634 5d.

flcellaneo

Downkter Ord-14%

Brit. Commonweal Ship. Ord.—304 "Fanadian Pacife "Ord—$49%..

City of London Real Prop- 9. Card Steauhip Ord~JAR PA. Forestal

Furness We

Hongkong de Chine Ons--17. Juvon Day Co-RB-11/16. Indo-Cuina Det. Ord-228 1d. Lant Securities -

PJM O. Steam Rav. Def.

Mine

Brillas in livestment-49x, De Bob Del-117 Od.

Londoli Tin Cons—il« nc.

Mount ten44

Petaling Mn-(04140,

Hand Selection.

Rhodesian Antio-Amer. Gri-54%

Ithodesian

30.

7:40.

Biokan Cof}},-~*}}%.

Fines

„[Benref]-050.

Trust-Pa

o Tintelone Copper-84 4,50.

Fronok Min169–748. Union Corporation—500, 73115 Welkom Dold Mintang-kad.. Western Hotelogs-Fl 3. Houthern. Mulayah Tin-834 34, Rubber & Tea

Aiste Indianesian Plant.--do dyti, Ceylon Tan - Ori)-220,

mperial Ord-the

Kusik Lulsipur Kejang-39 tid. Lambak Tutbere 3d.

-ileuler.

UNIT TRUSTS

First Hongkong Fund: $1.27. (bbyer) $1.35 (seller),

Second Hongkong Tuna: cents (buyer) $1,02” (sviler).

Netherlands gulider (per i West German Mark (per 1

Cuban peso (per

Japan rejects

U.S. request

1,50

1.44

1.10

Washington, Aug. 2.

132-14

13.99

UPI,

York

cotton

market

New York, Aug. 2. Helge selling and prol-tak- ing accounted for small declines In nearby cotton futures deliveries, while new crop Octo- ber azıc December moved higher on trade buying and short covering.

The State Department ald Dealers reported some selling yesterday that Japan had ru of nearby October against pur- jected an informal US requestchases of distani Contracts. that American atomie-poweret Selling in nearby deliveries was submarines be allowed to stop alan based on slow domestic de- at Japonese ports.—AP,

mond.—AP.

Mr Kristiansen said: "The adjustment has been necesanty to compensate for an accumulation of new cost fac lors.

"Since the increase is in il- self smaller than the general rise in income levels throughout the area concerned,

bes We lieve that it will not affect the continuing growth of air traffic. Moreover, we have held back the effective dote to avold raising fares during the Sum- mer vocailon period."

for

Giant order

British diesels

An order for several thou-

sand

been

Giant truck

for Borneo

an-

A giant mobile rig for servicing, oliwells up to 7,500 ft. deep recently left the UK for the island of Borneo.

Ordered by Shell Interna- tional Petroleum Co. Ltd. on behalf of Brunel Shell Petro- rum Co. Ltd., the rig is based on a 21 9 in. wheelbase Scammell Constructor chassis.

This is a three-axle, ull wheel drive chassis powered by 100 h.p. diesel engine. It has been specially built with 40 11.

It long frame sidemembers. also has power-assisted steer- ing and a high and low range 12 of gears which provide

in forward speeds and two

reverse.

The vehicle is equipped with well servicing equipment com- prising a double-drum servic- ing hoist capable of n 25,000 lb. pull from the mala drum. The hoist is direct coupled to a full torque power take-off from the vehicle engine and operates in- conjunction with a 80 ft. tele- scoping mast which is mounted for raising from the rear end of the chassis.

the rear

Brunet Sheil Is already operating a fleet of Scammell Constructors equipped

As ex

All three driving axles bre diesel engines has of the Scammell epicyelle type, which allows for full osciliation placed with the when travelling over rough or Perkins Group in the UK sofi ground. Balance

beams by Gebr Claas Maschinen- are provided in place of lo- fabrik, the combine har-minated springs for

bogie. suspension. Yester manufacturers in West Germany. The order is for four and cavator cranes. Other British six cylinder agricultural on- trucks operating on the island gines and is believed to be the include a fleet of Leylands with biggest single order for diesels 25-ton bogies for timber ever placed in Britain by a traction by the Bombay-Burmoh Germany company.

Trading Corporation Ltd., and a fleet of 31 Leyland dump trucks which are used on road construction projects by the for Public Works Department the Brunel,~LPS. S.M.

!

The engines include a large number of four cylinder, direct infection Four 270 units two types of combines, Claas Europe machine,

Other power units

concern-

ed are the 1.0 tre Perkins

Four 19 and the six cylinder,

Television watch

at airport

CX-

direct injection Six 351 dieselí A closed-circuit television engines used in the Columbus Main or combine and giant harvesters.

Perkins say

that deliveries will start immediately und will be completed within 12 months. In all, the order is valued at

£2 million,

Since Perkins first supplied Claas with diesel engines In 1953, over 30,000 British-made engines have been delivered to this German firm, whose head quarters are at Harsewinkel. LPS.

FIRST IN UB--Alask# Airfldes has brenine ihh firal American, ualea repreáchtative for the new Lockheed #6 busa franipërt. - Bern` O. A. Ulisprian (left), vice president- sales for Lookboed Alreraft Infernallogisi, potátà vui: overíiza mrko door on niödel of the niki place utility sirplane to Charles P. Wisils Jr., prestõent and general manager of the Alsakan eursier, following signing of the dealeranty wgrubinent, At the mine time, the xirifta þrázek

ae aneter for five Lockheed A Túc pha lê khi hết phát hành, trung thu mien uyen

"1

channel has boon Install-

cd of an airport in south- cast England to

survey

a busy intersection which is not visible from

the control tower.

The altport authorities. at Southend have had the camera Marcont unit-mounted on u hanger, gantry overlooking' n main oft holding area and an inftant road and way intersection.

run-

Vehicles using the road be- Iween ant Industrial site nearby and the airport, as well as air- port vehicles and airerait taxi- ing on the runway, can now be supervised from the control tower where a 14-inch monitor has been installed.

were

Al trame contral officers In the tower which overlooks the

main apron and runway previously unable to supervise int blind area. New through- out the day, the enmera pro- vides them with a seeing eye, to help in the movement of nireraft and vehicles,

A second 14-Inch monitor

Installed In

Д

wediher-proof

box under the hangar is used for "Ining up" purposes.-LPS.

The

Tanker goes into service

28,800-ton, dead- weight, oll tanker Géorga Peacock has been handed over to the Pacific Steam Navigation Compóny by Harland and Wolff, Ltd., Bolfost,

She is a single screw motor- driven oil tanker with a length between perpendiculars of 010 ft, and moulded breadth of 00 ft. Jun.

The vessel la powered by sa angle seling it. & W-n & W (Harland and Wolff-Burmeissor arul Wein.) neven cylinder dies sel engine which ljas opposed pistone, proscuro induction, and a, two stroke cycle, The bore of the cylinders, la 760 mm, and the combined stroke I 2,000 IRM-LPA