THE... CHINA MAILA „TUESDAY. L
New York stocks
UK holiday
There were no finanofal reports from London owing
to the holiday there yester- slay,
New York cotton market
New York, Aug. 7. Cotton futuros today opened maintained stoady and small not going through
some gains
New York, Aug. 7. Stocks_recovered partly after an early
profit-taking bout today.
Chrysler, up 1% or so, paced a comeback in the
motor section.
United Aircraft and Douglas scored gains of around two points in the defence sector while Martin, Sperry Hand and General Dynamics put on around a point each.
|
Gen. Tel. & Elec. den. Tyre & Rubber Getty- bli
hidden ce
Goodrich 1B. F.) Co. Goodyear Tyre
Grumman Alcerati Cult on
Today volume was 3,600,000 tummend Organ shares.
Of a total of 1,285 shares traded, 523 were higher and 531 lower.
American Exchange volumo was 1,110,000 shares.
Bunda volume amounted
the rast of a quiet 105-$7,040,000, sion,
Closing levels were up five to
une point. New unchanged to
off
closed
points.
Heyden Newport Corp. Hiram Walker ..................
tomestake Mining Co. Busman Refrig, Idaho. Power ska
Imperial Tobacco Ingersoll Rand
Inland levi Co.
Interchemical Corp, ... Tat Custness Machina. Int'l Harvester
International Nicket
Interstational Paper
show World Britain should have a
HONGKONG
STOCK EXCHANGE
Our Owa Correspond at
Business done on the Hong- keng Stock Exchange this morn Log amounted to approximately $987,000. Noon quotations and the morning's transactions;
SMATOR Dayara Belleza
Govt 31
Loan 1040 XK Lank
X.D.
Invest..... Whart
Balen
500 302 180 4 902
ત
gagaa
to
Dow Jones closing averages:
30 Industriais, 710.30.
Oricans
20 Raile, 139.72.
Int'l Tel & Tel
NK Bank
up Ave
Johns Manville Co.
15 Utilities, 119.15.
Lond. Reg.
Kaiser Industries
65 Stocks, 237.42.
Kansas C Power & Limt
BK. & F.E.
40 Bonds, 83.58.
Kennecolt Copper
21.00
Comm. future prices
Kimberly Clark
BOL
Whellock
147.93,
401
13 13:20 1000
HK Dock
112
Talkoo Dock 11 Provident ..
48 40! 73 246
1.00 3.073
Overall nelivity was curbed, traders thought, by the holiday note in foreign markets, and
of caution pending the govern- .ments first crop estimate of the
season temorrow.
Some traders thought the
Closing prices
Apiiibi Pwr. & Paper officiul estimate might show a Alden inc. Acy,
be-Algoma Steel Corp. reduction from last year CAUBE of adverse conditions Allied Chemicals some producing Alled Mille Inc.
All Chaimer Ant. Brake Shoe
existlog
sessions earlier in the season.
One privule survey indieated American Airline
n possible August 1 production Am. Cable & Radio Corp.
13,045,840 running
of
Forga. Power
bules Amer.Electrie
against 14,272,000 bales reported Ala
last year When the harvest Am. 1ome Prod,...
acreage was 15,300,000 nerve,
Firmness in the southern spot cution markets, and expectations
that the loan programme may tend to curtail the supply, of later in the
commercial cotton schsun,
were other stabilising
Influences.--UPI.
New York bond
market
New York, Aug. 7.
Am Mach & dry. American Meti
index, Liggett de Myers Tob. Co.
41%
69
Lily Tulip
Lilton" Ind. .......
Lockheed Aircraft
Locws Incorp.
Lone Star Cement Co.
Lorilard P.
Loverulein & Bone.
McDermott . nay.
McDonnell Aircraft
14 Merck
4% Minnesota Mining
Mission Development.
48% Monsanto Chemical Co.
Montecatin
Mitgomery Ward
Motorola Inc. (............
National Boult Co.
Ku National Cob Reg. "A
20
Ti
American Cyanamid Co.
4415
10
240
54%
National Dairy Prod.
37
National Lead ....
1212
National Steel Corp.
0.54
Norenda Minion Ltd.
123
21
BOOL
BA
Am Natural Gas American Smelting
Am. Bugar Rel. .......... Anieclean Te! & Tel American Tab..... Ampex
Anaconda Cupper Armico Stool
Armour
Asbestos Corp, ***** Alla Cona. Mining Baldwin-Lam-11am.
Baltimore & Ohio
Bank of Montreal
Bank of Montrea:
B. C. Tel. Co.
Beneicial Financo
The bond market was hesitantenguet Cons
during the week ended August
implien
4. This was attributed to the possible Inflationary tions of President Kennedy's proposals for increased defence expenditures, together Britain's announced higher bank, rato.
Bethlehem Steel Boeing Airplane
New York Central
Norfolk & Western By. North Amer. Aviation Northwest Airlines (Com.)
Okjahama Nat, Gas
Olin Mathieson
Ofts Elevators
Owen-Illinois Glass
Oxford Paper Co,
176% Fact Qui & Mec.
Pan American Airways
Pullman
HK Hote! ..
KK Land
HK Realty
(Qld)
New)
як
HK Trai
**
K. M. Bar..
Yaumati
CH. Light
73) 133 4031
8389998
**$**$*
rubber
market
Rex
New York, Aug. 7.
rubber fütures today closed:15 to 27 points higher, with sales of 16
contracts.
Standard contract closed 20
to 40 points higher with talen of three contracts.
The London-Strigapore hotli day, with a resultant paucity of abipment offerings here, helped to impart a fimer tone to the terminal market.
Limited offerings Included some bark erepe out of Thai- land at 10 conts and some smoked blanket crepe at 20 cents, both August shipment, cost and freight. Tot
'STALEMATED'
"The rubber market has con- atalemated."Ar the
tinued absence of new developments," Commodity Research Bureau commented today.
Although, worid consumption 15.20 of natural rubber, Is at high 4400 13.30 levels and tending to rise, DC 13.10 mounting competition from the synthetle product, both in the U.S. and overseas, is tending to restrain the development of ony price strength,
250 (2 391)
400 11
1000 20 40YA
હસો ક
2.075
HK Electric
413% 415 1300
100
1000
Telephone
Ex. Ires 40%
HK GA
47 1000 MOR
22.30.22.20 1000
500
1816
6.10
Cement Dalry Watson
04
Gilman Jardines
Textile
XD
Nanyang
R. Trust
6.3
.. 12,00
2.พ
23.20
21.80
0314
ESIGN
Paramount Pictures
Parks Davis Co.
Bank of Nova Beelin
70
Penny J. C. Co.
Beech Life Savers
73
Penn. Salt Co.
Philip Morris
Belt Telephone
541
Pitney BowEN
5354
Procter & Gamble Co.
Bendix Aviation Corp.
do
Pittsburgh Plate Gliu
1
Portland Gen, Eleg.
421L
Publickor Industries
B4%
021
Yure Oil
Radio Corporation
Radio Corp. Pref.
0235
A
32
Rubber #3
11.90 6.35
RayUrcon
302
Republic Steel
012
City Hotel
Reynolds Metal
P
Metal Indust 1.43
150
Reynolds Tobacco
142
JK Mine..
1000 @ 1.50 Ide 5000 IDC
Hoyal Bank of Canada
2015
Inti Inv... 1836.
50
Royal Dutch
33
Union Whosts
21.
214
Therm Mig.
S'hal
241
912
Sears, Roebuck & Co.
3044
Shell O Co.
Safeway Stores
3712
#1428
Saint Reg. Fipor
Schenley Inc.
.
Scott Poper
5213
604
borden (The) Co...... Burroughs Add Machine Dritish Amer. Ol British Columbia es. British Columbia Pwr. -with Calif. Packing Corp. Casa, K. of Collini cana. Brewer.... Campbell Soup Co. U.S. Goyonument obligations Canadian Pacific IL. drifted lower with many of the Case (3.1) Co. long-tormers at their lowest, Celanese Corp. levels since late 1960.
Cat. Tractor
Само
Blank
Behf Chase Manha ak grade corporales also gave up Chrysler Mators some ground as a result of the chic Peabody
Coen Cola - general lack of interest,
Colgate-Palmolive Ca. Colombian Carbon Co.. Commercial Credit Corning Ginks Works Consolidated Edison Consumers Gar Continental Can Cantinental Oil of Del. Creole Pet
Converubles, however, gained. Among foreigners, Belgium Congo 6% percent were mostly unchanged, while Gezinan National and Greek issues were neglected. Japanese Govern-
were slightly lower Crane Co......... ments China Melt Special,
COPPER MARKET
New York, Aug. 7.
Copper futures today closed
10 to 20 points higher with sales of 177 contracts.
Seller cautiousness in face of
the foreign Bank holiday, and continuing labour uncertainties Chile, combined to impart a acady tone in a generally quiet markel.-UPI.
43
Slogier Corp.
Sinclair Oil
Smith, Klina & French
Secony Mobil Off
6814 South Puerto Rico Bugur
46
1041%
10
1035
4432
30
3014
Crown Zellerbach
Delaware & Fludson Co.
37
Diamond Alkali
Diamond Na
Bitters-Sengrams
Couglas Aliterati
Dow Chemical ....
Dupont de Nemours
Eastern Air Line
Eastman Kodak
El Paso Natural Ges
Firestone Tyre & Hubber
Southem Co. (Thei
Southern Natural Gas
Bouthern Pacifle Co. Southern Hallway (Com)"
Rand
Standard Brands
Oll at Cal.
Beard Oit of Ind.
Hi | Standard Of of MT.
גני
Biel Co. of Canada
Sleep Tlock
Berling Drug Co.
Stokely-Van Comp.
Stone & Webster Studeboker-Packard Corp.
Sunshine Mining
Swit & Co.
Chem.
4135
41ER
2321
1073%
Texka Co,
2211
Family Finance Corp,
Tide Water Of
Pirst Nat. City Bank .. OTEL 100946 Ford Motor
Time Inc.***
Traders Finance
B3-1
Travelers Ino.
1400
|
06
Tri-Cont. Warrants
General Eleciele
Twentieth Century Fox Filma
General Foods
07
Union Carbite
Union Oil of Cal
52
Union Pactar Nalway
54
20x2
23
General Dynamics
General Motors
Gen, Pub. Uill.
COMMODITY PRICES
METALS
NEW ORLEANS
United Alteraft
United Frukt
United G. Corp.
US, Gypsum
U.S. Line Co.
UB, Hubber
US. Smelting
U.S. Steet 7 Þ.e. Pr
Warner Doter
Waukesha
Westinghouse Air Brake
Westinghqure Electric
Closing prices all in cents per Western Union Tol. Co.
D.;
Spot
Oct.
Dec.
Mar.
NEW YORK
May
Closing prices all in cents per
July
Oct,
lb.:
The.
Lead Bepl
10.10
Oct.
10.25
Zine
Rept.
11.15
Copper Sept.
Dec.
Jali.
Mar.
May
July
RUBBER
NEW YORK Rubber futures closing prices,
SUGAR
NEW YORK Closing prices all in cents per
Contract No. 8 (world)
Det: 2.65: Mar: 220; May! 2,82; July: 2.831 Bept: 2.83; Spot (World Average): 2.05,|||
Total Sales: #1 contracts.
Open Interest; 764 contrreLE, Z
· Contract No. 7 (domesto)
Sept: 0.03; (Nov: 634; Mar: 0.07: May: 0.00; July: $225.
Total Bales: 062 contract.
Wast Va. Pulp & Paper Winn-Dixie Woolworth
Zénith Radio
10114
143
70
25
zak
Dock
Humphreys
Macao Elec. 1126100
Nopa
Japan-France trade talks
Japanese
g.now
Tokyo, Aug. 7..
Government sources said the Japanese Government / had been disappointed at list of restricted or ban- ned French imports from Japan, submitted by the French during the course of the current trado talks being held in Paris,
Under the proposed systemy imports are in principle freed but items on the let re restricted or banned,
The
sourcer also said the trade talks were expected to be "technically", suspended and to be resumed in Tokyo, probably in Septembar.
The talks began in Paris in June this year since the Japan- France trade agreement a duo 473% | to expire, at the end of Suplem-
ber-China Mall Special.
3021
187
Textile output
Big drop in in U.S. south
German
shares
Frankfurt, Aug. 7.. West German stock markets today reacted unfavour- ably to Soviet Promjer Khrushchev's newest Ber-
Open interest: 220 contracu- tin threats and to hit
all in cents per lb.
Rox
Blandara
Sept,
20.50 1945
UPI.
NOT.
Jon.
30.40
Mar.
19
May
20.30
-UPI.
COTTON
NEW YORK Closing prices all in cents per
1b.:
Spot
FOREIGN ENCHANGE
NEW YORK Closing rates: Canada Ingland official 20-stay 90-dayk
μ
Australia New Zealand Bouth Afrio. W. Germany wilzeriand
·India Hongkong
"fireside chat" tonight.
New York, Aug. 7. Southern textile... plants turned out more than 2,600 million linear, yards of cotton broad woven and
In the US, the trade to awaiting public, ronation to, the 1902 model automobiles, which may have considerable bearing on tyre and rubber-demand." UPI.
London
money
market
London, Aug.. 7.. Conditions were more order- ly this work compared with last week's turmail. Nevertheless, credit hái baen tight and on most days discount houses have had to accept assistance from the puthorities to balance their books;.al- though, on no occision was borrowing, on bank rate terms necessary.
The market experienced the usual end-month dificulties, while there were fairly large withdrawals of funds. by clear- ing banks. to meet profits tax
Goverment payments,
-dir- bursements were not suficient
to offset this "calling-in bý banks.
discount houses conceded up to At the most difficult times,
6% per cent, while funds pass- ed through official assistance cent. brought up to 0% per When conditions eased, tight money was taken at. % per cent, with same at five per cent
of
Banks were willing buyers. bills at the new rates, but, dìr- count houses could not always meet the demand. Late Octa- ber dates changed hands at up to 6% per cent, while 8, and 84 per cent was the common rate for "hots."--China Mail Special...
New York sugar
New York, Aug. 7. World No 8 sugar futures today closed 1 higher to 2 pointa lower with sales of 31 contracts.
Domestic No, T sugar closed unchanged to five points lower with sales of. 05 contracts.
World contract trading lock- ed a dislinet feature today.
Brazil, reportedly, will hold; a tender tomorrow; for, 20,000. fans of raw for world, market de- der this week some 80,000 tons.
man-made fibro broad Binations. Brazil: also will ten-
wavon goods during the
first three months of this for the U.S. market.--UPI. year about 88 per cent of the national total the US. Dopartment of Commerce reported.
per cent of the nation's supply South Carolina produced 44 during the period with
more than. 979 million yards, sha Quotations of major German North Carolina was a distant shares dropped considerably as second with 413 million yards. A result of sales by foreign holets. Shares of the big Georgia, WOR third in the Farben Chemical Combine United States with 352 million, dipped by 20-25 points, and nearly dojule the output of
athers followed sult,
fourth-place Alabama which produced 103 million. yards Meanwhile, it was announced during the first three months
this year. UPI. the federal banks foreign
CUTIENCY SEMrvel bước dropped by, 200 million marks (about $74 million) to 28,000 million
mazka (about $8,800 million).
UNIT TRUSTS
Financial, 5, anporis. belloyed First Honkong Fund: $1.18/ that, ibe...reduction... wás -okused | (buyer)-8130. (seller)insek by the-bank's, money exports,
UPL
ཎྞ
Exchange rates
Butes war done in the lyonl unofficial sxehenge market. morning at the following eatusim surfing inates iper (219) U.s. dulár (per (1)
Australian notes (per &1) Japanese yen (per 100).... Cambodia riel (por 106). French new frans (per 1) Indonesia rupiahs (per (100), Bralian eruumiro (pet 100) Argentine peso (per 195) Korman hwah (per 1,500) (20 Tamilan ura (pher; 1,000) LANVIN Chinese P (per 114 Taiwan Yuen-(per "20) Trabant (per 100) Burners, krẨY, (per 10). Pakistan rupee, per (10) MECKO TALApa ((see:3)
Becond Hongtong, Tundby) well deandBayark per verig (kurir) ($1.05+tauffer 32
big stick to wag at Common Market talks
By Alexander Thomson
London, Aug. 7.
So now it is afficial. If Britain is not yet to plunge into men- bership of Europe's Common Market we are to tip-toe to- wards it.
It raises thèse questions, which of our industries, will gain and which will
lose from the new tie-up?.
"Until we have been members. "I shall'atoy on as long as they { "I don't have to tell you that
two or three years it is for doubtful, whether any really concrete answers will be forth-
coming", days and leading - fem ut stockbrokers with close Con- tinental Inks,
But it has taken a good look | at possibilities, After talks with a number of industries it makes these points.
Aircraft Tariffs play only a rainor role in buying airplanes, Performance and efficiency are what count.
Since 1951 we have sold nearly £200 million worth of aircraft and equipment to the | Six and bought less than £00 million worth from them in re
we are in a turn. Obviously good take-off'i, position here.
Building. Increased imports of bricks and cement, are, unlikely. But despite a 15 per cent. duty, imports of glass and glazed tiles from Europe are already com- pelitlye,
Competition may also be par- ticularly keen in buliding Ot- ments such as Tocks, taps and valves.
want me to" he said. "This is a the last six months have not most intriguing-job,"
been very buoyant", said Mr Consolidated Zine is one of Baer.
But with American, big, bust- the great" nomineratal enter. prises of the. Cominenwealth, ness forging ahead again ho Development belog pushed expects the second-half year abead, should make it greater will be "beitor still in the comlag year. casily be much better. For Mr Next year I would say could Alfred Daer who gave up retirement what a happy reward that would bo.
The biggest of these la επ immense aluminium project in Australia and New Zealand in partnership with Kaiser interests of America
"It will cost well over £100' million, by the time it is finished five years from now," said Mr Baer with
anonchalance that
was fascinating.
The plan involves opening up bauxite deposits at
Weipa, North Queensland, and building an alumina plant there.
Alumina looking like a while powder is the first stags in the production of, aluminium, "We hope to start making it by 1065" Mr Beer tolt me.
It will then be shipped to a hydro-electric smelter in New Zealand where will be turned into finished aluminium,
The capacity of the plant will be between 120,000 and 150,000 tbna a year. The start-up date is around the middle of 1986. the aluminum industry is suffering from over capacity, al
Chicago
grain market
Chicago, Aug. 7. Deferred. wheat, deliveries
pushed to how highs for the season again today on, the Chicago Board of Trado.
Rye futures were also strong.
By favourabio
Cars. Lack of experience in air-cooled engines and rear engined vehicles is a weakness. It must be remedied if we are to sell, more on the Continent.
Chemicals, British Arms are fully competitive, Profit margins prosint. The trade is not very while coin, onts and soybeans
bright. But Mr Baer is un-wers influenced concerned.
"If current conditions prevent margins
other producers from adding to their plants shall be happy", he said.
at home will almost certainly be reduced. But lower tariffs abroad should raise there if selling prices are main tained.
car
Wilh
10
I
crop reports,
Light offerings of cash whoat from southwest farms and con- nuing export demand boosted wheat prices at Chicago and Steel. We still have some edge
Kansas city. The prospect of Only on Continental prices. effect on UK steel makers if
BRIGHTEST HOPE smaller acreage and higher 'sup- Britain joins the Six will be
such massive schemesports in 1802 also contributed to the Impact this has on motor- on hand Mr Baer does not intend the advance.
manufacturers, and other that the group shall become big consumers.
predominantly an aluminium Machine tools. Adjustments | producer. should not lead to any major "We must seo le it that wo changes. Britain now has a 10 also develop other, sides of our
In the Six | business per cent duty.
A ксер proper tariffs, vary between nil and 23 equilibṛlum”, he declared. per cent - and will eventually His brightost hope is a new be 10 per cent" too,1 "NV furnace developed by the group
- Bir Buck. In all we bought for smelling lead and zine to- |
Is £100 million more goods from gether. Apparently the Six last year - than they | world"beater. took from us, That should "Know-how” hau already Poland give us a big stick to wag at been cold in France, the coming talks.
and Rhodesia; Canada, Mexico ́and several, other countries aro
also interested.
"Wo get a very considerable down-payment and
a royalty said Mr Boer. on production," ture £48 million Consolidate Money should start coming in Zine Corporation Anglo- | next year. Australian partnership in in- dustry and mining,
COMMONWEALTH
VENTURE
Now, a Commonwealth. ven-
The new chief Mr Alfred Bacr contemplated the future and told me: "I shall be most disappointed if we do not grow and grow and become more and more successful.”
Wail a couple of weeks ago, 65-year-old Mr Baer looked for- ward to semi-retirement after more than 40 years fibusincas.
#
Other new, activities, range from making propellent gases for aerosol packs to berylltura alloys atomics, electronics, and for
Inissiles.
j
Although - export......... business. was slowed by a holiday, In Great Britain,. «Turkey) ro portedly bought 550,000 bushels of hard yellow wheat, Exporters predloted that over- seas, wheat andes kħils week may reach 21 million bushela.
The US. visible supply of wheat Increased by 13,701,600 bushels this week to total 600,- 965,000, according to Board of Trade statisticians.
Corn stocks fell 2,235,000 : to 120,211.000; gats rose 1,457,000 to 18,028,000; rye increased 515,000 to 6.705,000; barley lost (9,000 to 19,550,000; and, soy beans dropped 1,151,000 to leave 10,472,000 bushela UPT.
:│
RISE IN STEEL PRODUCTION
To finance all this will Con-
New York, Aug. 7. solidated Zino; have to, ank US steel production last werk shareholders for more capital? | rose by 18 per cent over the Mr Alfred Baer hopes nof. previous wack to 1,850,000 tons,
His intention is to raise loand ending a two-week decline, the in Americu for, the aluminium American Iron and Sterl
Institute, riported today.
of
This represented - mill opera-
cent of rated industry capacity
compared with 022 per cent. In the previous week.
Thần quite suddently the un-adventure. He belleven that the | expeétad happened,, Mr Lyell plough-bode profits of the group
Robinson, the Chairman, died at will be sufficient to look after tlons at an estimated 08.1 per the age of 57.
the rest. After two days away from These big developments offler, Mr Baer was called back cotarse, -are allong-range. to assure control. Instead of Meantime as a producer of lend jaking life moro. Soglly na part- and zine the company is having ime deputy chairman he is now | to stand up to the vagaries of full-time.
the world's motal markets.
Output for the year-to-data totalled 54,230,000, a decline of 19.9 per cent from the similar perted in 1900.--UPL
Dust-bowl' trials
Sien Kuttner has been undergoing), unique identa): Martlesham, Balrolk, England. - Tho, Souto,, adruziyod ?. direrstva perfontinute, før : pomible...: vntifidzy, man tion of a 5,000 yard skin of land, from, which the lapsell WIEK:ih skoüz ambaoli exposed, .... The irip, was han NY PORTILLERI PAR CENTRO Kuna Kuyiling normally, insoskivred
1
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