1961-08-09 — Page 2

THE CHINA MAIL, WEDNESDAY, AUGUST

1961.

'Defence' stocks rise in

Wall Street

Now York, Aug. 8.

Stocks got off to a firm start this morning but failed to make much further progress despite another show of strength by a wide variety of defence issues.

Relatively small gains in the

points.

related issues including Lock-. popular market indicators were heed, General Dynamics, United enough to in the market to a Aircraft, Magnavox, Beckman,

record high however, Litton und new

Raytheon showing Trading progressed well ahead, gains running from 1 to 4 of yesterday's puce with the tickers running behind floor transactions at the anal bell,

investor attention was drawn to suspected bene- primarily

etaries of the nation's stepped- up defence programme with

Strong demand

for sterling

London, Aug..B..

strong

The pound was in

Today's volume was 4,050,- 000 shares.

Of a total 1,280 issues traded, 500 were higher and 497 lower..

Amrican Exchange volume was 1,230,000 slipros.

Bonds volume amounted $6,1140.000.

to

Dow-Jands closing averages: 30 Inhustrials, 720.22 up 0.84

20 Rails, 139.90 up 0.20

15 Ules, 119.20 up 0.14

5 stocks, 237.00, up 3.24.

Closing prices

Alden the Acy

Allied Chemicals.

s

domand on the London Amran Ali

Foreign Exchange market this morning.

There was # rise of 5/32 US dollar against the cent with the rat: now at 2.8D-13/32, while the Canadian doller was one-half cheaper at 2.09%.

bis dermal

****

Was a

from the Continent and rates moved up steeply. Miggest gains were against the French franc where the rate is no less than 344 cent higher at 13.773.

The German mark was 24 opening cheaper at 11.195, and the Swiss franc Favours sterling to the extent of cent 12.11.

at

Other rates all moved well in favour of London.-UP,

Agreed merchant

rates

Canadian Dollars Maximum

Minimum. Selling,

17-31/32. Buying, 10-7,32 T.T. 18-9/32 Q.D.

A Metal

Aussie Smetug.

Amerman 1 & Tel

A Toh.

Adareinda Chupisater Almuar

Allas Cons, Minang Baltimore & O

Bethlehem Sterl Cuka. Drewers. Calian 3 1.

Chrysler, Mulurs, Ca Cola

Commercial Crest Consolidated Edpon Crane Co.

Cuban Amer, Suga

$ 94%

243

12%

HA

New York rubber market

New York, Aug. 8. Rex rubber futures today closed unchanged to 13 points higher with sales of 26 contracts.

COMMODITY PRICES

COTTON

NEW YORK

Spot: 35.03 ang Det: 3453; Dee! 35.02; Mar: 33.77; May: 30.10; July: 35.00 Oct: 39.03 Dec: 33.14.

LIVERPOOL Closing prices all in pence per

METALS

HONGKONG STOCK EXCHANGE

by

· Our Own Carrespondent

this

Business done on the long- kony Stock Exchange morning anoanted to appro ximately $1,720,000. : Noun quotations and the iorning's transactions.

galer Buyers Mellaia

Closing prices aft in cents per

NEW YORK Closing prices all la cents per

lb.:

Lead

Sept.

15.23

Shures

02.

HLI

74:10

HK Bank

Sept.

11.20

Ex. Div... ተሰባ

308

Oct.

11.20

Cupper

Sept.

30.34

Oct.

HK Bank

(Lon Div.)

Ex. Div...

392 300

1b:

American Contraet Oel: 24.50; Dec: 24.05; Mar: 25.40; May: 20.73 July: 25,89: Get: 20.30: Dec: 25.70

Mixed Contract

Oct: 24.05; Dee: 25 35: Mar: 27.80; May 2010: July: 20.25; Oct; 20.10 Doe: 20.10.-UPI,

RUBBER

NEW YORK

Rubber futures. closing prices,

Switching operations, involv-all in cents per b ing rex November and March

standard provided the trading Sp

Nov. feature in an otherwise quiet Jan. terminal situations.

Mar

in the shipnunt market, May otterings were heavier an

599! scattervet, but too high priced to

interest local- buyers.

Offerings Included: small bale Coup one ribs 20% cedis and two ribs 20 cents. Thaliand offered four ritu 28g.eents and Bfeer brows at 23 cents 40.

i

Bunt de Ben Hurs

213

Eastern Air Lin

w

Fastman. Kodait

Ford Matar,... General Electric General Youth General Motors

Goodyear Ter

Gulf O.....

Gnut 15:4stners Machine

Toll Harrester

International, Nickel

DHL Tel & IV's

Kennerelt Comper Batton in.... Lackovel Airereft Luews InDED.

Lone Star Cement Co. Minnesla Mining Maşion Development. pletitgomery Ward National Chish Neg. National Least... New York Cential Olts Elevaters. Pacific Gas & Eleg. Pan American Airways Patatuunt Picture Puisburga Pule Glo Rutins Corporation Republle Steel

Metal

Swiss Frones, Muxlinum Sen Arynolds Tabacco

Ing. 74-15/10.

Belgian Francs,

Selling, 802,

Sinclair Di

Sony Mobil Chi

Maximum Standard Brands

West German Deutschemarks.

Maximum Selling 09-3/16.

UNIT TRUSTS

Standard (2) of tal Standard Dd at Ind Sulard Oll of NJ. Sterling Drug Cu.

Camp.

kar-Packard Pi

Swift & CTs.

Co.

Texas Union Carbide) Inten Pathe Railway United Alrcraft U.S. Gypsum

$1.211. Rioner

First Hongkong Fund (buyer), $1.36 (nelier).

Second Hongkong Fund 07 cents (buyer), $1.03 (seller) Special offer seller price $1.

US. Smelling U.S. Steel Warner firms. Westinghouse Electrle Woolworth (K. W

TAIPEI OKINAWA

TOKYO,

HON

HONOLULU

ANCHORAGE

STATTER

SINGAPORE

BANCKOK

COPENHA

HORTH POLE

KARACHI

Indonesian offerings included three ex-browns 24% cento ono thin crepe 31 cents; three ambers 25 cents four ambers 23% cents; three browns. 25%

3 cents and four brown at 29%

*** cents; all

August-September

4 shipment, cost and freight,

£4

1421

4022

[

00%

2

Loedily, spot No. 1 Rss was quolted 30 cents and

Current pound

nonth 2044 Funts

nominal--UPI.

CREDIT

BRAZIL

AGREEMENT

Rome, Aug. 8. Brazil has concluded a $21

July Sept

Canada

30.04

-UFT.

FORSIGN

NEW YORK Closing rates:

Cagland offelo

Ix Standard

Belgium

29.75

Denmark

20.35

W. Germany

20.30

Norway

29.75

Frunce

Holin

Sweden

Switzerland

Allied Investor, 30,00

H.K. & F.E.

Invent.

Wharf

Wheelock

HK Dock

2415 24.0

10 13

Taikoo Dock

C. Provident 321

20 * 350

186 47220

US 4300

2004 30

30 - 10.70

IK Hotel..

44 45

96 13/16

2.3040

0201

IK Land..

131

24

1450

..

200

2041

1K Really

2507

(Old)

.. 2.625

2.01 2000

2701

.1400

(New)

++

B130

3460

Hi Trani.

2018

100

~~~~UPI

1001

30344

KM Bus

101%

NO

190 & CO

Yazmali

39"

1404 40

190 M 4014

300 594

250 $ 2015

LONDON INDUSTRIAL

STOCKS DECLINE

London, Aug. 8.

Industrial stocks closed generally lower today

after a good start, while gilt-edged opened weak and then took to higher ground.

The reverse of just week's pattern came when equlty buy- ing fizzled out and profit-laking un last week's gutns hit recent favourites Ilke Unilever, Courtauld,

Chemleal Imperial und Woolworth,

Sleci stocks, motors, caginzey- ing equities, stores and tobaccos dipped white textiles, brewery and building material stocks were irregular. Shipping stocks, Banks however, met demand. million credit agreement and insurances took widespread with Italy, the President losses. of the Bank of Brazil, Mr

bonds Batista up to £. Jogo

edged War Loan 34 per Figueirado said yostar-cents put on this unucunt to day. This follows a similar close at £51. Dealers sald bear credit agreement with covering was behlad some of France.

Mr

293

Government

15

on A

the rises.

Dollar stocks

tins

were

Figueiredo

mixed. Europe-wide tour to sign agree Greeks were weak in foreign ments totalling $110 million bonds and lost up to 2. with eight countries.

In mining stocks, cuppers and In addition to Italy and golda driftöd on political feurs France, he will sign agreements but

went into higher with West Germany (32 mil- ground.

loa), Belgium (six inflion), Lending oils lost Netherlands {stx million) gains and closed 70% Switzerland

(12

million) lower, Sweden (Iwo million), Britain)

(8.5 militon)-UPI.

BA!

Teas and rubbers Hittle change-UPI.

all initi

tractions

showed

JAL

SAN FRANCISCO •

LOS ANGELES,

boontoer CURRENT ROUTES

*** PLÄNEED FAR,1949.

Going My Way?

When you fly with us to Tokyo — U.S.A. — Europe over the Polo North-East or South-East Asia the courteous service and calm beauty of Japan will be yours,

EVERY PASSENGER IS AN HONOURED GUEST.

Consult your Travel Gigento pr...-.. JAPAN AIR LINES

TAXSHING HOUSE, RO DES VORUX RD, C. TEL.28043 (3-LINED PENINSULA HOTEL,KOWLOON. TEL.S0660.64095

JAL

Closing prices

British Government Securities 246, Consolidated – £381. 3177. Conversion... EDGY

Ver Funding 1960/50–£133) 34. Savings 1950/60-288-0/18. 3 Savings 1960/70-£72. 1, Spyings 1005/15 -£00%. Judy War Loan-£81.

Overseas Bonils

St. German (Duwex)-&£0!!!. 5 Japanese, Ansented-2137.

Banks & insurance

Barclays Ord-?lis

Ch. Light

300 M 389

IOU AT GU

HK Elec.

40%

60 al 4015

G0041

1300 a $02

403

3004034 and y 300 # 403% -1000 or 1035

1000 or 40

Ex. Issue 40% 40%

20047

Telpline

"3

hire h G000

1004634

1000 41

ANSPORTATION

Revolutionary car

needs no roads rides on air

Tokyo, Aug. 7.

The great super-highways to span nations and continents may be obsoleto before the first drop of concrete is poured. Engineers have come up with a new vehicle, thut rides on a cushion of air and doesn't need any fancy highways. For according to experts it performs equally well whether its sailing over concrete highways, bumpy country or even over water. (See picture at bottom).

Since the new "ground effect" | Dr William R. Berleken, a As u machines are really aircraft, į physiclon from Hlinois,

future general practitioner in a farm derliners predict that modela will be able to travel as urca he üften found rural roads fost as other aircraft, even imparable during snowy or So lie sat through supersonic speeds. The mudy conditions. revolutionary difference, how- | down and invented his machine ever, is that they fly just above to solve the problem. ground, thus guining all advantages of flight without the large motor fan which sits in a The Aeromobile consists of a dangery.

A prototype of these

cently ́exhibited here

the

bux with surrounding control Inap which are controlled from

genious new machines was re- the driver's seat. This is the at the entire mechanical system. There World are no wheels, tyres, axion, Trade Fuir under the auspices transmissions or differentials. of the US, Department of

Fourth International

Commerce,

Designated the A-200, the Aeromobile is the brainchild of

Airline may

gain lucrative route

Ju s

21.80

100 22 10CC 21.00

Giman

2.05

Jardinen Cement

GOTIL

Chartered Bank-648 3d, Guardian Assurance-538 3d. Hongkong Bank-174. Lloyds Bank-05

Dairy

407

ཙཽ 47」z

30041

Watson

Dd.

Textile XD 0.09 0.70

Nanyang A. Stubber

21.78

It. Treat

0.30

7.05 7.80 10.30

1003 or 0,50

30000,30 $.30

Cenadion

1000 1000

10.10

3000

18.10

5000 10.20

1000 y 10%.

1000 14.20

Lombard Banking Ord.--169. National & Crindleys 335 34, Prudential A

Royal Brak DI

Royal Insurance Ord.-167)))) United Dominion

Trust-275.

Deltian Petroleum-463 90.

Burmah O11-37.

Shell Transport Ord—120s 3d, Bayal Dutch—£ 12-7/16,

Ultramar Company-318.

Strels Engineering

Babcock & Wilcox Ord-20s llid. Colvilles Ord-30s 7id. Darma -30% 4. Gurst, Keen Ord-92 415d. Harland & Wolf Ord~100 1150.

Stewarts & Lloyda Ord-451 Od. Summers & Sons Ord-10

Tube Investmen va

United Steel-is Vickers Ord-d44.

Electric

d.

Assoc. Elec. Industries-306 ʊd. Brit. Electronic Ind.—10%,

Eler. & Mus. Indu J.

English Electric

General Electric Ori-3,

Philips Lamp W10-25/33. Redfusion

Industriais, Assoc. Portland Cement-18s 10d. Boardman Marden Orda 101. Borsk (Holding)-18 34.

Decca Hecords Ord-072, Dunlop Rubber Ord-25% 70. Fiona Ord-448 10d.

Gilman (Holdings) ́Ord-n International Computers-04 Jd. Turner & Newall Ord

Id Unilever Ort-1494. Wiggins Tape Ord-39s di

Chemies Imperial Chemical Ord-72% 7lid. Monsanto Chemienia Ord-dis id Cluemar & Television

34.

ADC. Brit. Pictured-27% d.

Rark Organisation Stoll Theatre lid.

Paper

De Lo Jlue Ord-50 94.

Tobaccos

British-Amer. Tub. Ord-1 96. Carreras "B" Orande 75%. Galaber, Ord-42 34. Imperial Tobacco Ord-70% Od.

Motors

British Motor Ord

d

Hawker Siddeley Ord-3 sd. Jaguar Cars Ord-100 14 Jolls-Royce Ord---409.

Westland Aircrafts.

Headford Dyurganida died,'

Calicu Printers Ord-131 40. Coats (JP) Paton & Baldwins 41. gd.

Bt.

Courioulite Ord-

101st..

Fine Spinnera, Ord-25m 93, Lancashire Collon, Ord—67# 74d.

Brewerica

Billiers Co. Ord, -36á $1, Gulene (Arthur) Orda=B4#, and Coope Ord-ida 41%d.

Stort

Great Universal Ord 57 3d Great Universal

Touke

Ord--80a

of Fraser Ord--55 30.

Ord

Marks & Spencer "A" Ord--1010

Tate & Lyle, ord it.

dropbell,

Woolworth KWIFENF

Atitlaneate

Dowmaker Ordis 3d.

Brit. Commonweal Shilp. Ord.-35 10.

Canadian Pacifle, Ord-3152,. Cunard Beamship Ord=1th 1045d.” Forestal Land & Timber-131. Hongkong & China Ga-17.

Hudson Bay Co-RB-19/10,

Indo-China Det. Ord-22× d.

Land Securiten Ord-28′′.

P. & D. Steam av. Def.mulis

160.

Wither

Tirk fouth Arlen Ca-84. Reich Tin investment—136. Consolidate Zine Org-24% do, De Beers Wer-1201 2.

London 'Tin Corpenite Id. Mount

Petaling

Ithodesian Anglo-Amer.

Rhodesian Biletin

Rhokana Cosp/-47¢ 31. Rio Tinto

Ord-déa

- id.

flon Antinue retro

Loppers 34. Union CorporiBormila ël, Welkom Gold Minimums irgu.” West Rank Trivestment, rust, Western Holdings-144*62), Boulhern Malayın 230-01.

„Anglo Indonesian, plantada 4166.,

Ceylon, Tes Desi–Al pú,

Imugrik) Tel Und

30

Kuala Lumpur-Repong-34 450, Lembak Rubberanite Id.

Int'l Inv.

10 30000 30¢.

Macao Elec. 13.80 14.20 HK Mine Humphreys

20 20.30 1000 @ 20.10

Exchange rates

Busines was done In the least unofficia} exchange market this morning at the following rated!-

V.B. dollar (per (1)_ ....... Sterling notes (per £i) .... Australian holen (per £1) * Japanese yon (per 100)... Cambodia riel per 100). ........ Finch, new Irune per 1) .. Indonesia rupiah Ipër 1001 .. Brazilian cruzeiro (per 100) Argentine peso (per 100) Korean was sper 10GUI Italian lits (per 1,500) Chinese JMP per 11 Taiwan yuen (per 1 Thai baht (per 100 Burmeru kyat (per 10 Pakistan rupes (per 100 Macro pataca iper 1). Norwegian krone tper 100) Philippine peso (per 11 Singapore straits iper 1) Swiss trans

5,731 15.80

stands chanco

Ottawa, Aug. 8.

Pacific Airlines

very

*

of using lucrative trans-Polar

or

Dr Bertelsen explains that his unique machine requires neither gravel, blacktop

concrete. However, he says for greater efficiency, speed and safely a shallow groove in the land does offer advantages,

the since Aeromobile tends to contre It- sel in the

move groove and steadily forward without driver control.

4-passenger model

rooved

Carrying his idea one stop good further, Dr Bertelsen envisions

the an Acroduct elevated

highway with adjacent lanes for air higher and higher speeds. Once route into London, reli- again no driver control would able sources said today.

o needed except at entry and exit points.

Final decision on CPA's long- standing bid for access to

To, provide strength and light London open only

to hla vehicle, Dr to trans weight Canada Air Lines now--is up Bertelsen used Cyanamid Inter- to the federal Cabinet

Laminac polyester which national's mects tomorrow.

resin for many of its com~ ponents, The entire body of the expected vehicle Is also made of re-

inforced plastic,

Announcement

is

The privately-owned airline needs only a government ahead to move into London t competition, with the publicly owned TCA, under the existing Canada-United Kingdom bla teral air agreement. 320

12.02 1.48 £1,40 1.15

2.00

3.00

340

0.15

0.56

1.37

27.10

5.00

7,00

The agreement, signed on August 19, 1040, permits Canada and Britain to name one or more carriers to operate be- tween the two countries. Up to now, TCA has been the 9.904 Canadian flag carrier, with

76 rights to Prestwick,

chester

Man- while

British Overseas Airways

The Aeromobile aleo ไร scheduled to be shown at fairs in India, Italy, Yugoslavia during the next few months, Dr Bertelsen's next project four-passenger model of his in- vention which he hopes to put Into commercial production.

Ja

Airline's loss for 1961 second quarter

The Hague, Aug. 8.

Corporation, a Crown carrier KLM dirlines reported a loss

1.49

London, and

LI

1.33

Netherlanda gülldor (por 1.. West German D-Mark (per 1) Cuban pero tet 1)

IM

7,14 1.10

like TCA holds routes to Montreal and Toronto,

Tea complaint

A special committee of the cabinet has been considering CPA's bid for the international route to London for several Londen, Aug, 0. months,

The Financial Times today

claimed that most of this sea- The airline sought a Van- son's samples of new-crop In- couver-Edmonton-London route

of.: $5.3 million for tho second quarter, of 1961 as compared to a profit of $1.3 million for the sume period last year, KLM's quarterly report disclosed today.

Losses for the first six months

ular tea have been of dis-over the North Pole-a route it of 1861 total $10.3 million com- appointingly poor. quality and pioneered into

Amsterdam- pored to a loss of $3 million for said that no major improvement plus a trans-Atlantic run link the same period in 1000, the ro- seems likely.

Ing Toronto-Montreal-London port added. with propeller-driven alecraft

"It has been no surprise to only, The western Canada The losses were mainly due to anyone that buyers have virth route to London would nila "un unexpected and sharp, de- ally neglected some of the lots missing link in CPA services cline of frame, specifically on offer." this London daily from the Parine to the United the North Atinintie route," the commented. China Mail Speciál | Kingdom-AP.

report said.--AP.

THE NEW AEROMOBILE'

on

+

A