1961-08-10 — Page 2

Page #

THE CHINA MAIL,

THURSDAY, AUGUST 10, 1961.

WALL STREET STOCKS HONGKONG Chicago

DECLINE

New York, Aug. 9.

Stocks moved irregularly lower on moderate turnover today as profit-taking con- tinued to plague many key issues.

L

sting

Meston Development Muniante Cicuncal Co.

entrentini.......

Industrials showed a modest Norsk

with other popular market averages but the rati and utility components manuged to eke out meagre gaina, Volume ran several hundred thousand shares slower than yesterday.

National Belt Ca National Steel Corp, Noratul Miles Ltd.

Norfolk & Western ity. North Amer, Aviation Noritiwest Airlines (Com) Kolakan Nat Ga

Jones and Laughlin, Chrysler, Du Pont and Eastena Just more than a point, pacing an otherwise fractiona! deeline In teels, cars and chemicals.

Douglas and United dipped deeper than a point in the air- crafts, the faller on a consister- able destine in six months earn- ings. IBM gained about three brigh after Introduction of a sput comumulentions system using computers. Baytheon and

rell Texas Instruments anor th

Mathieun...

wets Cilas fard Paper Co 1k tavic Clu Tenny

3 1.400. Hat Co.

Pip Morris Pitney Bowes

Sushirgh Mate Gla Pactland Gen. Zare.

Gilt-edged rise

on London

Stock Market

London, Aug. 9.

STOCK EXCHANGE

by

Our Own Correspondent

Business clone on the Hong- kong Stock Exchange this morn- ing amounted to approximately $2,230,000. Noon quotations and the morning's transactions;

Bharas Buyers Seru

UK Bank

Fanubaru

Government bonds moved upwards today on buy-

ing induced by good yields and a stronger | tam. Reg. pound but industrial stocks fell back und closed generally lower in quiet trading.

Small seßing in a thin market | with few buyers hit the halus trial lenders and depressed · the scound-raniters,

althraigh some

got off the bottom bear cluse,

the

148/3. Imperial Chemlent went 1/4-

40% 4104

147

30

681

43WR

Pabeker Industries Plan

20

001 2

Pair Oil

Reynolds Melal

Unilever

401

Inel 2/0 an

togat Thich

Royal Bank of Chimada

50

32

lower at 71/3, and other

Rueen MR

Sears, Roebuck &

7015

point and Zonills

な

30%

1101

110

Just rennthly two.

Shell On Co

Saleway Stores

Saliste Paper Schenley Inr

Today's volume was 3,710,000 Sent Paper

shares,

Of a total 1,847 shares traded, 468 were higher and 526 lower.

American Exchange volume was 1,120,000 shares

Bonds volutter artmounted $6,000,000.

Closing prices

Allen Dic, Açy.......... Alguma Sibel Can

Anies Airline American Calle

Satin Corp

Anviteati Cymamist v Amer & Poign Power Am. Gus & Electric

Hume Prod.

Am

Am. Mach. & Pury,

Am. Natural Ches

An. Sugar Bef.

Ampex

Aft Steel

Anboton c'urg

Cores. MaYANG

Bank of Montreal Bank of News Scuti tree are Savers Hell Teinploe Benefrol Pance Hendix Aviation Turt

Borg Aupar..

Ch 1'. Buricloths Add Machum

Eph Anger. Oil

I Columbia Pyk

Cat. Pucking Comp

CRM tk. of toman

L'ana Brewers

Control Sep (

ת

Smeler Cor

South, Inn & French

South Puerto Rico Sugar

Southern (TREE South in Natural Cina Southwil Paerle-Ch

Stern Railway Hom

Steel C. 24

Sten; Rock

Stone & Welister

10 Sub Mung

Tester Ber

安

2013.

ין

2013

བྷཎྷཱསཾ;

blus

chips took similar fuis,

Shipping stocks were the only exception.

Markol sources believed that trustru after the rsu of buying following the recent Brow Investors were worrying over the probable effects of the government's credit rqueze and its appeal for dividend restraint. PLUS SIGNS The buying bout edged pushed

221) per cents up by

for gill- War La 3 Leg £1 to £2 and

plus signs studded the bonds Pisa lixt, the long and unclated issues 30' showing the best galgs.

Tile Water Oil

G

Cernance

Travelers Joe

140

Twentem Century Fox Fibu

Union Oil of Cal

ᏂᏐᎢ

Hosted Veuil

11

1: S. Steel 757F

Waukesha Motors

Westinghotsa Air Brake

Western Un'en el Cu

West Va. Pulp & Paper Winn-Dreie Stores

412 Zenith

281 f

Bank stocks turned dull and With 142% insurances gave grotted

15 jul estate erpaties.

Dollar stocks moved Irregular- Grecks were a wenk #gly lower,

spot in foreign bonds losing up to £1.

Sterling makes

The

further gains

London, Aug. 9. pound sterling met renowed buying today and modo further gains against the dallar

and most

European currencies.

Against the dollar the pound i beloved at 2.80'1⁄2 at middle prices,

E best rate since January,

Lonadian Paciße to

Case 13. 1 Vo

Cat. Tractor

Cehinese Corp.

CIT. Financial Corp.

Colgate-Palmolive

Co

47

Colorthian Cutbon Cu

Commercial Credit

Corning Class Works

10+

Consolidated Paper

Consumer Gar

Continental Can

H

conugenzał Del

24

Creek Po

342

Crane C

074.

Crown Zellenborga

Deware & Hudson C

Diamond Alk

724.

Diankond Nat

415

79 mart

290

77?

61 13.78th.

2016

Disullers-Sengratas

Douetas Aaretatt

Hove deal

13

Air Line

Natura

Family Finance Corp.

Ferro Cor

First Tyre & Rubber First Na, y Band

Ford Mothe

General Dynamien

Gen. Pub. U.

Gen. Telber

Gen. Tyre de

Guiden Ca.

Goodrich 1. ET 20

Great Northern Hallway

Grumman Alreraft

Guir ou

Hanmeld Orka

Heyden Newport Corp,

Homestake Mining Cu

Imperial Tobacco Ingeraut-Rant

Europema buying Featured dealings

today with Paris in morning forefront in the when' the frone was 2 cents. riwaper than yesterday. Tonight at the close the frame was 13.- last night's lovel

The German mark "closed at 1.20th compared with 11,20% 43% earlier today and the level of

11.19 st

Dutch night. The 3025179

tonight

10.214 2011uilder

| vranjčvel with 10,10 the previous

night—GTI.

231

14.

Was

METAL MARKET

London, Aug. D. The in market closed steady and quiet, spot rose one point to £523 and three-months

also rose one point to £935. Turnover was 30 tons.

enced a quiet day today, Lead

Hiram Walker

Hussman Refrig.

Imperial OI

Klaud Steel Co.

International Paper

The copper

market experi-

Jutes-Manville Ch

Kulser Industries

1:5

and zinc. were steady,

Kansas C. Power & Light

722.

Kimberly Clark

FARM Myers Toh, Cu.

17

Losing

Lily Tull

In New York, copper futures: elused unchanged

lo

Liiton Ind.

1201

three points lower.

Lorkinrd P.

52

Lowenstein & Sons.

Smali dealings

Involved

3732

evening-up operation-UPI,

McDonnell Aircraft

were

Gold mining stocks mixed but reported U.S. buying difted

five Free State Geduld shillings to 82/6. coppers held Arm and tins seesawed narrowly. Olis edged lower paced by shell of 170 pence to 124/0,

Teas fell from favour but rubbers were stently,UPI.

Closing prices

British Gormurat Securities 3374. Consuiidated-792. 3444 Conversion=5111. 2. Saviau 1053/85-288-9/10.

Savings 1000/70-£75.

3 Savings 1905/75-£0. 5. Wer LAR-452.

Byerras Bonds Cermati (Dawes)—ADIN

SEAS, ARcnted-e 157.

&urance Barclay Ord-77 9.

let. Merchants Insur.--bin 0. Chartered Bank-d Guorgian Assurance-ats d. Hongkong Stank£175. Lloyds Bank-da. Lombard Banking Ort.-15 101, National Grindley-

Prudential Assar, “A”-323). Royal Bank of Canada-£2. Royal Insurance Ord.--165 d.

British Petroleum-40% 6el. Burmah Ol-37. Shell Transport Ord-124 9. Royal Dutch-412-3/16. Uliranar Company-2

"Steel Engineering

9.

Rabengi Wilex Ord...=2an Thad.

Colvilles Ord-80s 72%d.

Tubarcos

Bedah -Ämner Tab. Dri-6#1. Carreras "B" Ord-da 05. Deperial Tabucco Ord-691.

Motors

British Motor Gra=141 3993), Huwker Siteley" Ord-31 2. Jaguar Cara Ord---Its Fed Hofh-Royce Ord-10% Del. Westland Aircraft-185.

Textiles

Bradford Dyure-10a. Tad, Canen Prisfers' Ord=138 Costs (18) Paton"A Baldwin-43s. Courinishdr Ord-97%.

Fuse Splmers Dec-25% dt. Limeashire Cotton Ord-3066–1994.

Breweries

Dillers Co, Grd-33% 04. Guinness (Arliguri Ord-314 44. Dal Coop 100

Great Valversal Ord-56R JÓ. Great Universal "A" Ord-G

House of Fraser Ord-345 Lyups (3) "A" Ord-32% 3 Marks & Spencer "A" Gril-100%. Tate & Lyle Ord-47a G. United Drippery. Dad-38__94. Woolworth (PW) Ord-52x 7990,

Milfanrou

Rowmaker Ord--Ha Ji,

Bris. Commonweal Ship. Cr-s Clints Paville Ord-44P,

Cunard Steamshly, Ord-148 101.dk. Forestal Land & T

Forness Why Ord-in OÍ, Hongkong & China Gan-17).

Hudson Tay Co tại

Indo-China Def. Ord-W. 50.

4-28, Nay. Dels 3d.

P. NO.

Alines

Brit. South Arlen Co.ĢIR. British Tafnvestment-15 30. De Beers Del--128 .

London The Corp—19% dikeh Blount -15% d

Petaling Tin-1

Rhodesian Anglo-Amer. Ord.-576 Rhodesian Selection

36. Khokana Corp-on Trusts 33. Bi Tinta Keurer) 101d. Delon Corporation-Stu 192yđ. Welkom Gold Mining—its, Western Holding-1228 Sel Southern

Rubby 20-35%

& Teas

Anglo Indonesian Plant,—da 30. Ceylon Ten Ord-20s det, Imperial Ten Ord-159 30. Kuala Lumpur-Kepong-2€ 41%d. Lambak Rubber-Aus Jd.

Reuter.

Exchange rates

Business

unl exchange ming at the following rates: 1.5. dollar (ver $15 Sterling nules (per 1 Australian notes per £1 Jagnese yen (per 100).. | Cambodia riet öper 100).. French new trafic (per 1 Indonesia rupjon (per 100 Brazilian erüizetra per 1600 Argentine peso (per iw

| Rojcan hwin (për 1,600)

I riper 1,musi

Chen JMI (per 1

·Talwar zuen (per 101

Altid lav. HK & F

201

392

Sales

m

DON JO DC

MES GRE

10 et 32

302

10.00 10.00

1300

10.30

21.40 41.50 50

3x11

12 13.30

Taikuo Bock 6. Prov.

72

32%

41

100 33

Ward Co. Wheefuck

HK Dock

4K 5.

Hotel

UK Lac

HK Realty

Toldi

פון

21.38

3000 13.10 3000 ur 13.10

BOD or 71%

220 33

100

ง

400 w

200 74

grain market

Chicago, Aug. 9.

Most grain futuros declined today on the Chicago Board of Trade In the face of good crop reporta and roalising sales.

Whoot prices eased despity of a heavy overnight

reports

ANSPORTATIO

W. Germany gets

4 largest foreign

four business. Mills also bought

on the news that some bakery ms had covered their tlour needs through February.

However, when was undir

pressure from long prest-selling and reme hedge sales. A lure export business wi beli ved peiling,

reported.

but few sales were

shipbuilding order

Hamburg, Aug. 9. 2

A private crop report (Scarte) The Schlieker Werft, Hamburg, has re-

estimated Conada's when crop

at

235,800,000 bushels ugainst

| 470 million last year, It set oats production at 100,500,000 bushels with 304 mlition in

compared 2.05 2.675 5000 2.65

10000 or 2.05 18000 2.0M

1980.

1000 # 2.525 225415 P00414

(New)....

246

K Tram..

K.M B.

7915 0015

20 70

Yatunki Ch. Light.

29 3044

Electric....

40% 100%

Telephore

Ex.

Issues

IX Cas

Alman

Jardines ....

C. Cement Dairy

Farms

Walan

L****

GOVT REPORT

Rye and soybean futures [rell

Linder of

proft-selling Other grains were slow. with 350 a 796 many tinders awaiting a govern- meni crop report due after the

00 702

20

200 ( 400 130 DGO 30% 1700391a

200 40

2000 » 2014

300 40

700 £# 40 1500 L 3032

300 x 40 5000015 5000 3914

4758 60 401 4315 - 40% 0:33 401 600 401

15 or 4014

500 40

500 409

332401 430 4015

461 462 500 45

170 45 4017 21.50 $23000 21.00 4,325 58000 4,90

Textile XD Nanyang... 17.00

28 10

6.5

50 041

20041

200414

300 4155

32

250 0,10 3000 13.30

close tomorrow.

caived an order for a gas oil tanker of 50,800 tons capacity, the newspaper Hamburger Abendblatt reported.

The lanker, to

be delivered

sometime next year, hos brea ordered by Oll Trading Assocla- #isotion Incorporated of New York as agent. It is to cost 20 millon marks but payment wit be made in gas oll from Venezuela lo be sold treely on the world market, This is believed to be the Jurgest foreign shipbuilding September November order received in West Germany In soybeanS narrowed since the til mere as long Bquidation persisted in the nearby delivery, Meal and oil also declined. The August mcni, future fell as much as $2.50 ton.

The Spread

Sweden srid Holland bought about 204,000, bushels of spring wheat. Japan took one million bushels of Western white wheat. Denmark and Holland purchas- ea a total of 550,000 bushels of new crop soybeans.-UPI.

Annual vacation

Detroit Aux §. American Motors Corporation's Kelvinator appliance unit saki mal today It had cut its vacation closing at is Grand Rapids, Michigan, plant to two weeks instead of three becouse of "heavy production schedules It's Invest. 14 G 1490 4000 10.00 based on improved sales per-

Amai. Rub.. 032

Rub. Trust

IK Ming Cly Hotels

Humphreys

J

Forry

1000 17.00 2000 430

2000 6.30

3000+ 0.30

formance."

The plant will be closed from August 21 to September. 5 China Mail Special. •

COMMODITY PRICES

SUGAR

27-2734

Deji 20000 + Se

4212

Star

2-18

Murao Eleu

13. 14:20

Хоре

48

was done In steal

Inarked

Anioy Can

it'.

ปา

5747

15.21

12.09

143

9.40

1.15

3.40

5,00

340

น.พ

137

10 luft (per 1001

27.30

Burmuse Hyat per

y

5.60

Slewarin & Lloyds Ord-41 10.

Macno pataca (per t

Takistan rupse (per 10,

117

','

7

Norwegian krutie (per 1000)

7.00

1L.:

Pidlippine puno iper b

1,48

per kilogram, c.lf. Aug.:

Singapore Hiraits (per 1

121

Swiss franc per 11 ....... Netherlands gibter mer 11

Contract No. 8 (world)

No. 1 rubber

22.23 buyers

No. 2 rubber

154

Oct.

2.04

No. 3 rubber

West Genau D-Mark per 15

134

Mar.

No. 1 erepe

Cuban pero (per 1).

J.10

Miny

2.83

127 buyars 225 buyers 2.35 buyers

+UPI,

Judy

Del.

Agreed merchant rates

Sept.

West Cernan Deutschemarkts Maximum Selling, 69-5/16.

Nov.

HIT.

J.

Dorman, Lore-20 Guest. Keen Ord-pia 19. Harland & Wolf Drd-10s 11⁄2d.

Suanmera & Sons Dril-45 Tube investments-60 United Steak 41. 14. Vickers Ord331 Wyd.

Electric

AROC. Elec. Industries-3GM. Hell, Electronic Ind.-10#, Elec, & Mus. idustries--39 d. English Electele Ord-ate Ju. General Electric Ord-30s D. Phil amp Work-E10-1732.

Ort.2 10. Redillusion O

Mutisetrial

Assoc. Portland Cement-70s 3. 15ariman Marden Ori-5, Borax Holdings- Did. Desen Records Oril-Bla. Dunlop Hubber Ord-255 415, Fisons Orl-12 31.

Can Holdings) Ord-68.

Newell Ord......45 9. Turner & Unliever Ord-140k Au. Wiggins Temicals

OR-57 Dd.

Imperini Chemical Orif 30. Monsanto Chemleat Ord-21 42.4.

Clucas & Television Assoc. Brit. Pictures-51r_3d. Itanie Organisation Ord-27 D. Stall Theatres-fa 19yd.

Paper

Dowater Paper Ond-bts Od, De La Rue Ord-30%. Splcers Ord--48# 10.

UNIT TRUSTS

First Hongkong Fund; $1.28 (buyer) $1.36 (seller).

07

Second Hongkong Fund: cents (buyer) $1.03 (eller). | 1 { Special offer seller price $1.

Mobilgas SPECIAL

THE GASOLINE DEVELOPED FOR GREATER MILEAGE-GREATER POWER

Mobiloil Special

ADDS YEARS TO

ENGINE LIFE

Mobiloll Special

STANDARD-Vacuum oil COMPANY

Fincorporated, with Linend Liebifty » Q5AL

NEW YORK

Closing prices all in cents per

Sput-World Average

Tatal Sales: 41 contracts

Open interest: 72 contracta

Contract No. 7 (domestic)

6.13

5.00

0.00 -UPI

COTTON

Closing prices all in cents per

Aug.

Scul

Estale crepe

thin Aug

thick Aug

AMSTERDAM

Closing prices all in guilders

FOREIGN EXCHANCE

NEW YORK

Closing rates; Синдил

England

official

**05

1.8055

30-days

1.7940

Do-daye

2.7770

Australia

New Zealand

2.1535

France

2034

Germany

.2539

Holland

12775

.1403

.1038

2017

Norway

NEW ORLEANS

Spol

32.30 nom

Ort.

34.76

Bweden Switzerlan

Dec.

31.30

Oct.

Dec.

LONDON

Closing rates: Now- York Closing prices ali in pence per Montreal

LIVERPOOL

Lisbon

2.20 7/10-3.80 9/10 2.00-7.201

10.31-10.13% 139.00-130.55. 18.343.-18.347 13.30-15-2014 10.23-30.49 20.0224-20.02

H.:

American Contract

Oct.

24.30

Amsterdam Rivaseja Copenhagen

Dec

34.03

Frankfur

Mar

May

25.33

Oslo

July

23.00

Porla

3.70

Dec.

Stockhol Milan Zurich

13,90-10.701 14.40-14.40% 17494-174052 12.102-12.11

Mixed Contract

Oct.

Dec.

Mar

May

July

Oct.

Dec.

UPL

RUBBER

Rubber futures closing prices,

SÁT AZ

-UPI,

METALS

NEW YORK'

mork.

re-valuation of the

Antouticing the receipt of the order W. Schlieker, owner the

shipyard, suid, the West German shipbuilding industry was in a difficult stage following the revaluation of the mark,

He regretted that neither the West German Government nor the Federal Bank had agreed to underwrite forward risks.

Packaging for overseas trade

London, Aug. 8.

A convention on "Consumer Goods Packing for Ex- port" is to be held during the run of the Interna- tional

Ex- Packaging hibition which opens in London in September.

It will be organised by the United Kingdom's Institute of Packaging in collaboration with the Export Council for Europe and the Western Hemisphere currency Exports Council. During the Foreign. owners did not four-day run of the convention bellove the West German as-

a special display of successful surances, that there would be packages from Britain and no further revaluation of the

oversons will be mounted. currency.

Recent rumours had stated that some member countries of the European Comiman Market, including West Germany, were to up-value their currencies again to case Britain's entry into the Common Market. That was why foreign owners were not willing to make contracts on the basis of German marks, he added.

The exhibition organisers say that prominent buyers Ini Americe and Canada will be in- vited to state the requirements of their home markets and in- vitations have been seal to ex- perta in France, Germany, Italy and Sweden.

Subjects covered by the con- vention will be: Fuodstuffs and Beverages--North America and A continuing annual subsidy Europe: Pharmaceuticals and from the Government totalling Cosmetics--North America and 200 million marks per year to Europe; Household and Store cheapen the industry's rates of Products (including textiles and.... interest would help, Mr clothing) -North America; Schilcker said. Itellan and Household Goods and 'Domestic French shipyards were

already Appliances -Europe-LPS. getting subaidies

their

from

Governments, he added:-China Mall Special.

A supermarket

for a stand

London, Aug. 8.

to

pro-

A supermarket with

ducts ranging from too ond biscuitu confec- tionery and table waters is the official British ax- hibit

ot the currant Chicago International Trade fair,

Agreement on bellow expansion joints

A licence

agreement has UK been signed by the

and firm, C. A. Parsons Co. Ltd., of Nowcastlo

upon Tyne, with Zalloa Brothers of Delaware,

the USA, for

FRONU- facture and solo of thinwall-bellows expansion joints of Zollca design.

The agreement provides for the marketing of the British The products were contribut-made products in the United European Free ed by more than 40 British food Kingdom, the manufacturers or their agents. Trade Arca, and British Com- supermarket covered monwealth with the exception 6,000 square feet and has been

ot Canada, designed by the Central Once of Information for the Board of und 10 absorb movement in a Zallen expansion joints are Trade and Federation of British wide range

The

Industries.

and lateral

of piping applica- The trade

tions particularly in fale is an annual chemical Industries. Both axial oil and event launched In 1959 with the opening of the St Lawrence accommodated with

movements are Scawoy.

any pres- Twenty-five nations took part this year, the majority b. per sq. Inch, and tempera

sure between vacuum arid 1,000 showing foods, but Britain was

the only nation selling them. tures in the range minua 320 degrees Fahrenhell to 1000 de- With America the leading grees Fahrenheit. buyer of British tool com-

+1

lust year exported a total

£8,023,000 to food and drink tu the country-LPS.

moditice, the United Kingdom the UK. firm will be

The agreement means that oble to accept inquiries for expansion Joints, suitable for nominal bores of Ins. to 48 ins. for delivery after mid-1062-LPS.

Middle East Airlines' offer to BOAC

A

London, Aug. 9. Middle East Airlines spokesman said in London Closing prices all in cents per offoring more than £3 today the company was

million for British Over- reas Airways: 49 per cent stake in the company. Ta

mokestinus nuid Shelk Alamuddin, head

Boost to expanded plastics production

O

A UK firm is to make

major investmont In ex- panded polystyrene pro- ducts. The first objective, starting in January, 1962, is to reach on output of 1,000 tons a year.

The Arm is Venesta Plywand.

BOAC's Cornet-flying porteer | The. mont up-to-fate andi

machinery available

based in Beirut, was hoping to efficient conclude the dial shortly after will be installed

lb,

Lead

Bept.

10.20

Oct.

10.23

Ze

NEW YORK

Erpl

11.25

Det.

1520

all in cents per ib.:

Cupper

Sept.

30.08

Hajib

·FEX

Standard

30.01

Sepi. Nov.

2

20.20

Jure.

39.73

2.20

Dona

JKI.

JAN,

Mary

2030

Mar

30.01

May

30.09

May

9.30

LONDON

July

Closing prices, all in sterling

20.09

1b.:

Exeyer

No. 1 trial

Betement hotine, ferm

3-

Aug.co

24-2 25m

Dot/Dine, JAMMAL.

Copper root

Land Apot

219% 231 4

Aur June

3- ሰ Zle Apat

July/Rept.

ΤΗ

-URI.

LONDON

Closing prices all in pence per per long ton.!

2014-2016 | Fin spol

July/get.

24- General wekels, wit, banla, porte:

כו

for both tho

five weeks of tulks here with Production of expanded Sr Matthew Slattery. OAC polyalyrene, and the fabrication

of products chairman,

from it. AL the tune time steps will be taken both to expand existing mar¬ (kets, and to develop new ones, Mkkdle East Airlines, one of Mala unes for expanded insulating

The money was being raised by Lebane businerarien, he

addcu.

BOACT la "itle brother" com- {putystyrene are for

panies, opernter in 23 cosantries low temperature stores and low

In Europe, the Middle Fant aut temperature transport; for the

Ujan Far East-China Mali thermal insulation of buildings, Spesial,

Land for packaging-LPH.

>