1961-08-29 — Page 2

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THE CHINA MAIL, TUESDAY, AUGUST 29, 1961

New York stocks London market HONGKONG World's monetary

advance on light trading

New York, Aug. 28.

slightly firmer

London, Aug. 28.

The London Stock Market moved cautiously out of the doldrums today to develop a slightly firmer tone.

After recent dull trading sessions, British Government Bonds attracted investment buy ing, and small selective support

the industrial sector.

Stocks advanced a little on light volume today with a higher also brought a better trend to

stool group lending some encouragement to a cautious market.

Gain of a point or so were sprinkled throughout steels, electronics, foods and other defensive issues. Profit-taking appeared in a number of key industrials and recent heavy gainers to give the list a generally ragged appearance.

་

The cautious atmosphere will, Forning Glass Works

refected cameerti over the Berlin situation and the strong threat

of is but strike among "big 3 car makers.

The Dow-Jones Industrial average bring on to a small geia.

strongth

US Steel

and Gamble, Eastman

UraLesen Carbide

Procter

Kodak und

Du Port was a weak spot, off more than four at ile wurol.

Today's volume was 3.150,00) ahans

Of a bad 1,721 sinres traded 489 were higher a 90 tower.

Anorirani Exchange volume was 1,350,000 shares.

Bonds lone amomile

$4,780,000

Daw-Junes closing averages:

39 Industrials, 710.01.

20 Rail, 112.34.

15 Uuties, 119.97.

65 Storks, 23791.

40 bonds, 1947.

Comm. future

147.92.

Consellcnter aliam

Conkerated Papers

Comminiers flas

Continental Can

Continental Oil of 'tivi Krane Co

Culin Anker Spar Delaware & darm CA Bland Alkali Brand Nati DISTERS FRAUDE TATIAN Drugs Anorart

Dow Chemi

Dupeut de Nemuntis

· Bastern Al Fine

Basinan Kitak

RI Pro Natural Gas

Pasoils Finance Chepi,

Puestone Pare & Hudied Just Nat Tidy Bank Fest 2001 4115 Fath

Fort Molop

Clement Depanifes General Electur

Cer) Ful

Cleared Matur

Gen Pub BAI.

Glen Ty & Rubber

tirty Ol

Gronk

Goodyear Tyre

Graan Amrefl

Gold Cal

prices index, Hona Degan

Closing prices

Abitibi Pur de Piner

Alien Toy, Aey.

Atrine

10 Portland Cie. Kle.

Incastries

15 | Publicke

187

Pullman

Pure E

4494 | Baglia Chrporation

Raytheon

Rupubile Strel

1891 Heynous Metal TNG | Raydads Tubacen

445

Hayal Bank of Canad Etuyel

Shell ou co

Saleway Stores

Saint Hex Tape:

233

324

Seligotry Inc.

203Sent Fager

Megler Corp.

Binclair Oil

Smith, Kile & Free

113 | Sorona Mubil Oil

Soul Pueris Rien Sugar

Southern Co (The)

Smale Naturel Gus Sauthera Paeille 470

Sperry Haunch

Square D

Sundard Brans

14: Standard 011 of Cali

Stendard Of 14

Stuttard Oil of N.

Stort Ch. of Canuda

* Steep Back

Sterling Drug Lo

5214

Somber Railway

Sunshine Mining

Textron the

But business was still affected Berlin to some extent by the troubles and prices mainly (mingish within nrow limits.

Gold shares showed gains but were generally quiet. Tits moved phend but coppers closed caster.

some

Guardian Akatiponce- 126, Hongkong Bank-1724. Lloyds Banking Orn-14 d.

Lombard

National & Orindless-1.20. Prudential Assur.

£22-11/16,

Hayal link of Cariadis-4284). Royal Insurance ord.-136% 2,

British Poiroleum-45 On. Hurmah O-55# 1st, Shall Transpurt Ord-! $0. Rayn Dutch-1)-9/t. Ultramar Company-20 41.

Steels Engineering Julirock Wiletx Ord-20′′ 71,0. Calvillen Ural-595 Get.

bul

Borman, Long-20_6d Guest, Reen Ord-

Jet.

O shares opened dul Failled later to show smalt goins on balance.—AP.

451, 40148

DNANIE

10%

3434

10%

321

1461,

Heyden Newport colp.

2014

Kiokety Van Camp

Stone Winder

tha Waiker

Ext

Studebaker-Packard Corp.

Domestale Mining Co

福

Hanuman Relate

20%

Swift & Co.

Idaho wer

+107,

Think Chem.

penal foluere

Tile Water Ou

Ingersoll-Rand

* Inc.

327

308

Kit

Interefemdeal Corp.

Traders Finance

JRET 1 Naciones

510

Travelers Inc. ...... 1796 14804

Jati Harvester

Tri-' Watragla

-11E

Internatiound Nickel

1214

Twentieth Century Fox Film,

221.

Internetal Paper

Union Carbide

134

lath Tel & Tele

We at Cal.

491

Jubn--Manville Co,

CIL

Butan Pethe Hollway

Buhed Atreraft

712

Kenneents Copper

imited Gas Corp.

Idly Top

67',

Jon Ion.

Zaklicet Aircraft

1213

Low incip.

FOX

Kaver Info-tra

Kimberly Which

i bingell & Myer. Tod

#29, te Fruit

SMS. Gypsum

. . Line,

140 U.S. Rudiber

4. US Sulung

US Steel 7 PC FF

Ziganan Steel Varp

Allied Phensteak

Allied Mtlis tuc.

Allis Chalmers

Am Brake Shoe

A Ratay p

Amiertern Byananit del

Amer & Förgn. Powel

Am Gas & Electric

Am Itume Prod.

Mieli & F'dry

Ant Natural Gas

Auetients Smeling

Am Sugnt

Aubertet Tr

Anverters Peaty

Angoar

Ampe, Copper

Asbestos Comp Balwlo-Tabua-Itam.

Balinese & C

Bank of Montreal

Bank of Nova Senha

Beech Jilfe Savers

Bell Telephone

Henedelal Finance

Bendix Avistien Porp,

Benipart Cona.

Dethirhen Steet

Boene Alpokane

Borden (Phen Co.

Burrough. Add Maellars

Bet Ames hi

British Columbia Pvt.

Canada, 84 of Commi

Cana. Biewers

Canadian Pacile it. Case 17. 1.

Cat Tractor

Corp.

Chose Mankirt Bonk

Peality Che Cola Commerelst chedit

Late Star Tenni

Beds & M

MeDrimutt 1. Ray

au binnell Atrerait

3027

1 DATA; Paramount Pictures

Cult Parkinat (^lity.

Campbell Soup (n.

National Trad...

Nailonas Steel

Westera Union Tel Co.

Va Putip & Paper

Winn-Dixie Stores

Woolworth K

Zenith Radio

METAL MARKET

2421

US Steel

Warner Bro

E+

Waukeshaji Mutora

434

Westinghouse Air Brak

Westinghouse Electric

Aleich

Maeda Mu

West

75%M

Mensanto Elemurat Ce

Menteri

Montgomery Sweet

alototota the

Nathal scuit Co.

National Padi Res "A"

tional ary

Prod.

17%

Noranta Muse

Lid.

200 fok & Western y.

North Amer Aviationi

Northwest Airlines (Con't

251

Oklahoma Nat. Go

122

Ola Melem

924.

Ol Flevator

4009

Orland Paper Co

Parte Gas & Elre

Pan American Airway

174

Pen Salt C

Filt

Pill Mar

copper strikes In Chile

Pasturen Plate Class

Ulah. UPI.

Pines Bewer

JAP

3512

219

2512

21523

1424

FLE

36%

201

40UP

3812

351

7813

1:324

New York, Aug. 29. Copper futures today closed 16 to 21 points higher with sales of 260 contracts.

Increased demand for copper at New York reflected higher prices at London. Local copper values advanced slightly

ent a pound.

over

Futures are beylaning to re- flet the

influence of

Closing prices

British Government Securities

306 Conversion— 25

Dr. Savings 1900/0008-9/14.

· War Lomic A 52984.

Brersrus Bozadi

91. German (nawet-CHE, 5. Jubarese, Assented-efón,

Berks & Insurance Harclays Ord−05%.. Chartered Bank-Silk dd

Chicago grain market

Chicago, Aug. 28.

(ell Grain futuras

back under scattered selling and o light domand to. day on the Chicago Board of Trade.

and soy- hot weather

Deolers sold cora beans freely

a sunshine returned to the midwest.

The

weather VIS expected to speed maturity of evops, which have been reported behind normal in some Preas,

Some selling, of grains Was attributed to fears of #local elevatur strike. Negotiators were scheduler to meet tonight in an effort to reach #grovment 4fore the old contract expires

on Thursday.

When ran into

Tedge als and selling led by local truders. Prices fell a cent or more from early highs of the day before

bear the ralfying

cluse. The the

market held

stendy initial hour on buytig bei com- mission and commercial frousts, -UP.

Exchange rates

Business was dota in live Biocini murulog at the following rules:—....

Harlan A West Ond-17% 24. Steel Co. of, Wales-3da id.

Hinwarte & Lloyds Ord—42% 10134, teners & Sone Ord-43 Tube Investineista-õla DJ. United Strei—1290

Vickers Ord-324 Bd.

STOCK

EXCHANGE

Our Own Correspondent

Business done on the long- kong Stock Exchange thin morning amounted to approxi- imately $2,000,000. Noon quota- tjons and the morning's transactions:

Shores Buyers Hellers İK Dank 372 374

Allied Inv.

IK & FE

Inv.

Wharf Co. Wheelock

ཊ་

10.20

193

Bales

5378

19 320

206 40 aje

3372 114979

10 12.20 3000 27 11,30

3000 14.30

الله

outlook is gloomy,

expert says

New York, Aug. 28.

Currency expert Franz Pick said today that the world's monetary health deteriorated during the past year and the outlook remains gloomy.

He reported In his annual | London price of gold from "Pick's Currency Yearbook" $35.15 to $33.18 within a

Pick Publishing Corporation, week, he said, compared to New York. $40) that between normal price of $35.07-98 before July 1, 1000, and June 30, 1901, the softening US dollar

than gold searing-UFI, partiar

were

Dock

Talkoo Duck Ch. Prov.

K&S. Hutel

165

107 100

100

100 100

MDG 2015

.500 ... 36

there

"'not seventeen full devaluations."

405.

Orl-31k

1000 o 60%, 10000

Elerttle Asso. Eler. Inchistring=358,

· Aune, Televāstam "A" 14.

Tin. Electroste înti--108 190

Teit. 2014. Curientlar Ord-səti 64. Free Mun. Industries-37 dit

Ord-2 nd,

glish Bric Oil---2

General

Play Boop Works 10-1/12 Rediffusion Ord-40 1012th,

Indessuteikis

Assoc. Portland Cement-3111. Hartman Murden Oed-4 4

Barak

Deen Ite

Dunlap Bubber Ord-20s.

Fists Ord-37%.

Gilan Holdings) Ord.--196 344. International Campaner-128 30. Toner & Newall Ord.--036 112d. Unilever Ord—140%.

Wiggms Tempe Ord-184.

Chandrale

} On-6x 4'.

On-

Imperial Chemical

Monatti 11.

Cinema & Television Assur. Brit. Pictures 1944 Rank Orgontration Or:l-289 72d. Stall Theatres~05–71jd.

Pance

Bowater Paper Ord-Sta.

De Ln due Ora—3k. Heed Altiert El Gals 911, Spicer Ori--k.

Tubarcos

British Amer. Tub. Oril-659. Carteras "D" Ori-4s $10. Hupertal Tobacco Ori

Miuturs British Motor Ord-13, 1959, Hawker Sichileley Ord-3 ch.

Cara Ded-08% 19ad. Ras-Royce Ord-sc. Westland Aircraft-178 10bit.

Textiles

Bradford Dyers-10% ed. Catico Printers Ond-12 del. Cut P Patin & Didwins-42a 44

Curtains Ort-3 kl. The Spinners Dert-24x Od. Lamensntre Colour Ori-55.

Brewerles Distillers Co. Ord.-95a 10d. Sitness Arthůři Ord-518 24. In Cone Ord-128 7tad.

Hluers

Great Talversal Ord-52 ct. Great Universal “A” Ord-18% 111⁄2d. House of Fraser Org-Sia SA. Lyons (3) "A" Ord-09. Marks & Spencer "A" Ort-90%. Cute & fole Ord-lås Ul. United Drapery Ord- 30. Woulworth (P.V.1 Ord.—son G.

Miscellaneous

Belt. Commanwent Ship. Ord. 4141.

Canadian Pacine Ord~$49%. City of London Real Prop.--70%. Cuhurd Sternship Ord-13, ruled. Furnes Withy Ord-37% 64. Hongkong & China Gas-22.

Bay Co27/10. Da gef. Ord--

Land Securities Ord-274.

P. O, Steam as. Det.-30.

Angin Amerlean‹ Corp. SA-127K

Art. South Atries Co.-39s nu British Tin investment-1 WC. Coralidated Zine Ord-7s De Beers Def-136 10.

Mount

Petaling Rhodeslau

khotheglor

Angio-Anur. Ord-t

Selection Trust-

the

2425Et

exchange

market

US dollar per $15 Sterling notes (per £11 Australian noles iper £1) Japanese yeniper 1003 Combelard (per NUT French new franc (per 11 Trudonesia uplati (per 100) Braxtinn erulzeiro" "tpor 10},

5.7

12.03

1.40

1.15

1.00

5.30

Juli

3.30

Khokann Corp-45 1.

11.18

0.51

1.35

27.07

5.70

107

0304

7.00

STARTING

SEPTEMBER 7

SAS DC-8 JETS

around the world!

Argentine pero per 10019 Korean won eper 1,003: Tallan lira iper 1,000) Chinese JMB (ner Di Talwin zuen (per th Thai baht (per 1003 Burmese Kyat (per 10s Pakistan rupee (pæer, 101 Mavao patuga tuër li Norwegian krone (per 103) Philippine peso per 11 Singapore Attalks (per 17 Swiss frane (per 1 Netherlands Rulider per 1 West Germon D-Mark tier 11 Cubait peso (per 9

Now between the Far East and Europe, SAS

affers you

choice of two great routes. Fly out via Bangkok and Middle East take the North Pole "short cut" back! Both ways you enjoy 5AS DC-8 pure jet speed and SAS service.

Passengers from/to Hong Kong connect at Bangkok and Tokyo by interline carriers.

SAS

பங்

weakly

Jet services! Europe-

Middle East-Far East.

In co-operation

GWISSAIF.

with

For Information and reservations ask your travel agent, for cargo your freight forwarder, or SAS and SWISSAIR Air Travel Ulties:

Gintbestar Bldg. Tel: 22288, 2002, 32020.

Kowloon - Hotel Kast Arcade!

long Rod

1.25

Tel: 05751: 00050. 61503.

17.80

Yesterday's Closing

Ho To : Center)-35% 34. Union Corporation-178, Watkum Gold Mining-11g 3d. West Bank Investorent

Trust-in

Western Holdings-1178 04. Southern Malayan Tizi-33e Du.

Kubber & Teas

Anglo Indonesian Plant-la İtád. Ceylon Tea Ord-208 64. Iniperiaj "Teu Ord=1ba 94. Kuala Lumpur-Kepang-da 214c. Lumbak Itubber-40 d.

-Reuter.

COMMODITY

SUGAR

NEW YORK

Closing prices all in cents per

1b.:

Contract No. 8 (world)

Ort: 2.87: Mar: 281; May: 2.00; 2,87 Sept: 2.01: Det: 291; Spot

Averagh): 2.07

Total Saios: 33 contrac

COTTON

NEW YORK

Closing prices all in cents per

ib.:

Spot

Oct.

Dec.

Mnr.

May

July

Ocl

Dec.

May: 0,23;

Open Interest; 828 cunirnets.

Contract No. 7 (domestic)

July: 6.23 Spot-(Bulk, duty old);

HIC Land

4 0

500 40

میں

Jess

Ile added that 22 currencies "dropped to all time lowa," while new highs were attained i only 10 areas. 800 126) 14

054 0

1:00.

100

1920 144 074.

210 877

2007

5000 21% 200 0 30

100 76%

|ralty (01 2415

Tram

KMU

10 M 75

5974

Yourtiti

124

C. Light

37332

1000 or 37,

4003 6 371

Electrie

3.0

2500... 301.

וב זו לאאו

200

"Of the 93 currency systema listed about 60, if not more, are

due for for-reaching adjust- mentu or devaluations," Pick: predleted.

10 their

un-

"NO ,solution. cronomic Wors or problems other than the offcally

mlatable road to bankruptcy through currency manipulation will be found. No foreign ald can satisfy the dire needs of most countries,"

Pound Sterling

Plek singled out the American dollar and the pound sterling, backijune of

Western

Bent

New York

cotton

Now York, Aug. 28. Cotton futuros hold stoady and quiet throughout the day today.

Closing prices ruled un- chunge to Paree points lower. The market opened unchanged to six lower, New Orleans closed one

higher Lo threo TOWLT.

was

Most of the business com-switching and straddling, A moree, for sovere criticism.spot terest transferred While West European curren- short October to December cles are hardening, the Anglo-54 points while

American units are sick. ከቀ

200 389

BUO

1234

berno at

1000 35

300 38%

(Right)

1 Gov

4}} 41

201

50041

sall,

10,70

20.80

100 21.20

1000

20.70

"The efforts of the

ministrations in

currency

a commission house bought December and old July at 110 points. Western The certificated

stock Was

400

20.70

I[HY {, "!

Guman

4.375 .425

1460

monctory

Telephone

10201

Jardines

0.1. Cement

1000 145 2000 4.10

3000 4.40

1000 - 24

100 24.10

10624

Dairy Farm 37

200 300

Texilic Nunyang..

Rubber

A. Tuf Lane, raw,

014

300 44 3032 1000 30 1000 30 200 30 150038

1590373%

0371

6% 1050 70.30

1000) 289

1000 14 0.20

7.40 7.00 3000 7.00

1.020 2320 {

Int'l Irivet. 14, 198 1000 1500

Mine

De 10 LOODU www. Underwriters

Asia Nav

Aim Duck Clly

liteta Shal Lond Humphreys Star, Ferry

i Hupe

Sincere

ԲՈՒ

14.40

24503

234

Agreed merchant

rates

Europe, where colossal progress reduced 885 bales with 89,592 Luwards

mastership bates certifleated and 009 bales

has been attnineri. are over additional

shadowed by the outlook for

the American

dollar and the British pound, both in dire need of consolidation," he said.

"The latter can only result front ቦ prolonged period of austerity and from the bonish-

nent of

the politicians from currency scene. And that. 1 am afrald, will not be acceptable."

Pick said that a "substantial International distrust" of the to American dollar has led "conalderable capital transfers from America to Europe, es- protally to Switzerland,"

per

Canadian dollars, maximum selling 17-31/32, mininum buy Jng 18-7/32 TT: 18-9/32 OD.

West German deutschemarks, maximum selling 80-1/2.

UNIT TRUSTS

First Hongkong Fund: $1.22 (buyer) $1.30 (aclier)

Second Hongkong Fund: cents (buyer) 99 cents (seller)

PRICES

FOREIGN EXCHANGE

NEW YORK Closing rates: Cortada England ontgial.

30-days

90-day

Da-13/10 0.0042

58.13 nom

34.40

35,71

2.7039

1.7720

23456

Now Zealand

-8.7940

Bưulli Africa

14040

Others unchanged.

-UPL

NEW ORLEANS

Closing prices oli in cents per

Nov: 400; Mar: 6.10;

0.05,

Tistal Bales: 141 contracts,

{b.:

Open interenti 1,500 cuntracts.→ urf

Apot

Dec.

Mar.

MAY

July

Oct,

METALS

Des LIVERPOOL

33.00

94.00

11.00

30.13

Closing prices al-in pence per 15.

Ausiraba

KUBBER

NEW YORK

The dollar suffered "tis Dist coronary” · last October, what: the price of gold shot up to $40 citnre of the London már- kel and cost the US, more than $1,000 million.

"IL

never covered," he added.

European

completely, ru-

creditors wilh

awaiting **TicTon

naire" and review.--UPI.

New York

sugar

New York, Aug. 28. World No. 8 sugar futuras today closed four to 10 sulas points lower with of 33 contracts. The domestià No. 7 contract closed

Ono to 4 points higher with salos of 141 *** contracts.

World futures dropped as $21,000 milion in shurl tern much as 20 points earlier in American assels could have the day, nearby October was ferred a dollar devaluation weakest but It subsequently they

demanded "a Jew rebounded to previous closing more billion dollars" in gold, levels on short covering.

had

Pick said.

India reportedly rejected European central banks also bids for white sugar for the came to the rescue of the Bri- US market tish pound which experienced a

in the neigh- minor crisis"

bourhood of 0.00 cents per carly this year, pound delivered.--UPI. he said.

Soviet Ruble

While the dollar and pound slumped, the Soviet ruble shot up from an all-time law of five cents at the end of January to 75 cents today, Pick raid.

He said "conservative Qur- rency policies" accounted for the rebound, plus strict govern- ment control over the Soviet monetary unit,

Rubber

market

New York, Aug. 28. Rex rubber futures today closed 10 points lower to five points higher with sales of nine contracts.

Standard contract closed Ave to 13 points higher with sales of nine contracts.

Currencies of Iron curtain countrice in general were stabilised, Pick sald, with the notable exception of Communist China, where the "sick" yuan to 11.30 to the sild from 0.75 dollar.

In the Western world, "only the unite of the Common The market was Market and its associate sympathy with London; it turn- member Greece, plus those of ed steady on dealer and come Austria, Denmark, Finland, consumer small buying in Lebanon, Norway and Sweden | afternoon. No. Has was quoted were considered as really hard," at 30% cents and current month Pick said,

at 30 cents-both nominal-

The 17 devaluations within UPI, the year were Brazil (3), Indoncala. South Korea (3), Philippines, Rumanin, Formosa, Turkey, Soviet Union, Uruguay, Venczucia (2)

and

Turkey (2), he said,

The 22 nu-timo lows in frce market value were reached by

easier in

U.S. money market

Angela, Brazil, Communist Chino, Colombia, Congo (Leo-

New York, Aug. 28. poldville). Cuba, Dominican Re-

The bonds market during the publie, El Salvador, Ethiopia, weck ended August 25 was Iceland, India, Katanga, South described as quiet.

Morocco, Mozambique,

Korca,

Nicaragua,

Portugal,

South

T Abodo

ensier,

Intermediate and long-term Africa, Tunisia, Soviet Union, S. Government band dealers Venezuela, and Yugoslavia. sold investors were showing

New highs were attained by ittle interest in teir market, Cambodia, Czechoslovakia, Fin- Investment qualfly corporate land, West Germany, Greece, bonde were Rubber futures closing prices Hungary, Lebanon, Netherlands, Municipals drified lower, with all in conts per 1b.:

Rumanin and the Soviet Union. supplies fairly heavy.

Pick suld die West German imark was increased by five për 30.29

In the foreign section, Poland cent in official value fast Match ganzusted 4% of 1080 dipped hip- 4 10 вако

pressuro on the low $10, and Poland eight per American dillar, bul that cents of 1080 fell four dollars, because of the Berlin eriate the Greek Ga of 1968 eased over two

tiper pressure puinis.

NEK Standard

30.40

20.04

39.00

10.00

naw mark is

NEW YORK

American Contraet

Oct.

Closing prices all in cents per

Dec.

20.00

Jiept,

1b.;

Mar.

25.20

Nev.

Jan.

May

Land Sept.

10.20

20.70

MAT.

Del.

23.04

May

Zind

Dee.

23 60

Det.

Mixed Contrnet

AMSTERDAM

Conger Bent.

Dat.

Dec.

Jan.

Mar.

May

*UPL.

Cloning prices all in guilders Alseit per kilogram, c.lf. Sopt? No. 1 rupper song NO.

CHART

No, rubber

Ko. I crepe

Pick reported "targo golĚ Japan 6 of 1975 stamped

the 227 buyers | purchasex"" within

past added more than $1'as did Bóúth 130 wydr

week by Inego West German Italy 51⁄2n of 1974. Most others corporallot In the London and were fractionally changer,

1961-08-29 — Page 2

Comments

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