1961-09-05 — Page 2

.

The future of shares of Britain's two

biggest aircraft firms

THE CHINA MAIL, TUESDAY, SEPTEMBER 5, 1981.

BE A REGULAR

READER

(More and more man takes to the air. What does this mean for the investor? Edward Westropp investigates).

By Edward Westropp

London, Sept. A.

The sight from the observation terrace of London Airport is on

asfounding one.

There is never a dull moment. Vickers Viscounts flying off in droves. Comets shooting almost vertically into the air and vast Boeings weighing as much, believe it or not, as the Mayflower, hurtling down runways to reach America in seven hours instead of nearly 70 days.

So let us look into the plans | be a quarter of the price und so of the two biggest British alr- the directors hope to sell by the ploue momifacturers this week- | hundred. end to try to find out whether there is any cash to be mode by buying their shuren.

The British Aircraft Corpora- Hon is developing the fantastic VC10 which in 1984 should be carrying nearly 200 people o Ume across the Atlantic at 600 miles an hour,

And in addition they have designed д short-haut 540- mltes-an-hour jet called BCili which will pack In 69′ tourists. The former wil sell in dozens sand cost nearly twe million pounds, oplece. The latter w

'Buy Japanese' proposal is deplored

Washington, Sept. 4.

De Havillands which is part

of the Hawker group is also full of hope and expectaljon.

over to take an interest in architecture and pull down the Treasury,

U.S. HOLIDAY

All U.8. financial and commercial markèle were closed yesterday' in ob- of Labour Day.

servanos

so that the visual commodi)- iles prices, stock market report, eta, are not catted in today's paper,

ASPORTATO

LONDON FARNBOROUGH_DISPLAY

CLOSES First family-sized

FIRM

London, Sept. 4. Stocks registered scattered gains today and closed firm on small scalo buy- ing of industrials but tho Borlin situation still 'acted OF a brake on business volume.

hovercraft

steals the show

Farnborough, Sept. 4.

It has often been remarked Gains were mostly limited to A small British aircraft company today put on the market the world's first family-

bonds held

Colony's Leading English Language Nawapapar

SOUTH CHINA MORNING POST, SUNDAY POST-HERALD

&

CHINA MAIL

YOU MAY SUBSCRIBE EITHER

DIRECT WITH US

on

WITH ANY OF OUR DISTRIBUTING AGENTS IN THE AREAS LISTED BELOW

HONG KONG ABERDEEN

that the darker the building a few pence. Unilever, which the more diamal and hidebound ruse sharply on Friday on news It too has a "milk run" plane | the inhabitants become.

York I was seeking a New mounted in one on the stocks with three jets In the private enterprise Aeidsting, was down 4 shillings to tall which for

lump en the Mr Arnold Lindley, the new | 142/9d.

Government economy, speed chairman of the General Electtle and comfort designers reckon Company, has recognised this steady in advance of the August Britten-Norman's cushion- developed for ferry service will be in adyunee of anything and decided 10 scrap Magnet gold and dollar reserve figures | craft stolo the show from ueross the English channel. else when it comes into service | House which as he once said to but the news of the Improve-guided missiles and supersonicį

The CC-E, unofficially whn BEA 1963.

me "would depress even anment came too late to make an airliners at The 22nd British nicknamed the Crulier, And on top of that Hawkers undertaker."

impact. First market reaction Aviation exhibition.

weighs 3,100 pounds, has a are relling Avro Argosy which Although they compete very

range of about 500 miles and is, a super freight Plane Bercely, car man of Birmingham demand not

only by the RAF | and Coventry much resent out- but by American commerctat side interference and the ob- Įdollar stocks mixed. Interests,

ject of their resentment at the moment is Sir Henry Spurrier, chairman of Leylands. He is the man who brought about the resignation of Mr Alick Dick and his boardroom colleagues plus its aircraft know-how, is from Standard Motors which is A very worthwhle concern to now part of the Leyland 'coin- have a stalte in.

sized hovercraft-a cross breed airplane- CAUSEWAY BAY

automobile that rides on air alone.

The British Alteraft Corpora- flon is owned largely by Vickers and English Electric. My bellet is that Vickers, because of its immense

engineering interest

At 33/- to bine.

yield six per cent i see ne kati Sir Henry is a heavy-lorry In the shares at all.

type with a touch of norther dourness about him, whereas extroverts

An enigma

But what about 11awkerstuny car makers Here's an enigma wrapped in a riddle and no mistake. I have made many dirty erachs during the past three years

given to great enthusiasma inter- spersed with periods of gloom and frustration.

About

They declare that you cannot Mr Herbert B. McCoy, Prosi-shares which I alleged always Pply lorry-making principles fu where it is dont of the Trade Rela-stick at 30/- no matter whether the motor industry

the stock

that you market slumped or generally held

must tions

of the boomed. Council

What are they today? Pour out money regardless on United States, deplored 30/- exnetly,

[new designs and publicity and This solidided price is curious. | parties if you wish to succeed. today the "buy Japanese"

ly enough symptomatic of There may be something la programme which he said underlying netivity. Hawkers all this and it will be most in- is proposed by Mr Alichiro

teresting to ate whether Sir Fujiyamo, chief of the

Henry who is a most able man, Japan Economic Planning

can adapt himself to the newy environment. Board.

Mr McCoy said: "Industry In the United States connot but express dismay at the attitude of this high government uniclal.

"Every tine anyone

In e United States suggests buying

American goods

reasonable restraints

is no big and diversified that if one side is doing well another is doing badly and each cancels

the other out.

Nevertheless I am coming round to the view that If you have the patience of Job there. is more moues to be made than fost in shares which re- turn seven per cent.

The Treasury

Ur placing On visiting the Treasury

*

Laundries

under the

i

of saving

Reports from all over the country) indicate that laundries are picking up more and more of the Monday wash, The number of employees is rising all the time and new machinery is being installedi.

The reason, upon im-couple of days ago I was SO

say experts, is that In ports damaging to Amertean la depressed by the interior that housewives are no longer pre- an affluent socicly dustry, the Japanese

are the had to go straight down to S first to cry foul and to say that Stephens

pared to break their backs over levern we are attempting to wreck our shadow of Big Ben and have a the Ironing board for the sake International

This couple of gine. relations.

# Jew shillings. has been true with respect 17 i It then occurred to me that They do "smalls" at home atid

what the

calis Whitehall there "Bnts"-sheets, shirts and pillow-

ancestor. cases into old wicker basket. Lowndes,

The investor can benefit from who was the chancellor in the this expanding trade by pur- "It was true even when our nation had a serious balance of 18th century and a great man chasing shares

of advance for encouraging private enter-laundries which have been grow- payments delleft as the Japanese now appear to have. And I prise, purticularly his own since ing in recent years by taking last he was active in building houses over and making more effleient week U.S. gold reserves went Led flogging them at a

good many local Arts. proft

The company is in I am not suggesting that Mr Drayton group

hardwood

textiles,

plywood, somewhere in pottery and scores of other pro-ig a pieture of my ducts.

"Ways and mcans'

would further

note that

down another $150,000,000,

"The Japanese trade deficit is altributed to heavy imports for

Bluf

trude

to the month's performance avas to judge them "sallsfactory."

Gold stocks were quiet and

Ten stocks continued to im- prove but rubbers showed tile change.-UPI,

1

Closing prices

British Government Securities 26%, Consolidated-C335. 356 Conversion—252).

3. Saying 11/15.

Bavinge

39. Savings 1963/75–20%. 35%. Wer Least-

Prezreas o

42. Gemilan (Dawei-£91%. 34, Japanese, Assented—£ 100%, - Buzika: de Instrance

Barclays Ord=005_56.

Chartered Benkija Ad.

Guardian Assurance-bla 64.

Landel Tru55 d.

Hongkong Bank--£102.

Linyin Bank-bs 3d.

ઋતુ.

x

A company spokesman said the 10-passenger Cushioncraft will sell for "well under £20,- 000." The craft was designed

on

Mok Yust. 11-A Tung Shing Road, 2nd

Floor.

King's Store, 10 King's Road.

Paulina Store, Causeway Bay Manala

Paterson Street.

Pauline Bioro, 5 Hoi Ping Road. Sunnysida, Company, 127 Leighton Road.

CENTRAL DISTRICT Loa Yanz Subscription Agençles,

a top speed of about 60 miles HAPPY VALLEY an hour.

The company spokesman gald

LOOKOUT

The KENNEDY TOWN

20 meet the transportation production of the craft will JARDINE'S needs of areas which have notart in six months to a year, bus, bost or railroad service. It was learned that the British

The cushioncraft CC-2 ter- Government ally rides

air. Its

might place 220 first order for the riding-on-air horsepower Rolls-Royce engine

craft.-UPI. both propels the craft and-by blowing air downward-keeps it from 12 to 24 inches above the ground,

'Wonderful'

Tic croft had is malden flight three days ago.

"It proved a lot casier 10 handle and operate that any- thing that has been done pre- viously. We think it's a rather company

Lombard Banking Ord.- 754 | wonderful thing," a

National & Grindlays—32s 30. Prudential Azsur. “A”—£23+0/18. Royal Bank of Canada-£27. Royal Insurance Ord.-150 d. United Domialog Trust-211.

British Petroleum--945 08. Burmah O-35% 60,

Shell Transport Ord-117 36. Royal Dutch-£11-13/32.

Ultramar Company-24 419 xả,

Rteele nord-201 d. Babcock & Wilcox Colvillea Ord-35 d. Durman, Long30s Bd. Gunar, Kim Ord-008, 34 Harind & Wolff Ord-)KA. Stewarts & Lloyds Ord-44. Suminces & Sons Ord-44, Tube Inventnessa-dia DJ.

Vickers

United Sure123

150. Electric Assoc. Elec. Industries-30 Assoc. Television "A

Ord-30

Electronle Ind.—le fisd.

Brit: Frontender ord-pd.

Elec, & Mua, Industries—301 90. English Electric Urd-30s 93. General Electric Ord-3, 73d. Rediffusion Ord.—ls.

Industrials

Assoc," Portland Cement-71 7590. Beardmor Marden Ord... 41 4358. Borax (Holding)--10 dd. Decca Recordă Ord-034, Dunlop Rubber Ord-200.

Fiona Oroldings) Ord - 9d.

Gilmar

International Computer--039, Turner & • Newall Ord.--d3s 12th. Unilever Ord–142a Bd.

Chemicals Imperial Chemical, Ord—67% 1014d. Monsanto Chemicals Ord–179 420

Cinema & Television Asoc. Brit. Pictures-nя 135. Rank

xd.

the

xd.

Stoil Theatre de 4153,

and although Selwyn Lloyd should do this slieres ut 7/0 yleid only 3% per piant and equipment investiment, but he might be well advised cent, prospects are Presumably these investments directly the present crisis is London Express Service. will be used to increase exports

to the United States and other

markets."

Mr McCoy sald Fujiyama proposed the "buy Japanese" programme to case the Japanese trade deleit.-UPI.

Exchange rates

Business was done in the local UNORIAL exchange market thu

bright-

COMMODITY PRICES

FOREIGN EXCHANGE

LONDON Closing rates:

morning, at the fällowing rates. U.S. dollar (per 41)

Sterling notes (per 1 ....

15.00

New York

Australian nolen (per £1) ..

12.57

Montreal

Japanese yen per 100)....

1,40

Amsterdam

Cambodia "riel (per 100)

11.00

Brussels

French new franc per

..

1.13

Copenhagen

Indonesia rupials (per 1001

2,15

Frankfurt

Brazilian cruizeiro (per 100)

1.00

Argentine peso, (par) 100) ..

Korean hwan (per 1,000)

1.30

Calo Parts

Italian ro (per 1,009)......

1.15

Stockholm

Chinese JMP (per 1)

Zurich

Taiwan yuen thee lu) Thai baht (per 100) Hurmese, kyal (per 10) Pakistan rupee (per 10) Marko pataca (per 1) Norwegian Krone (per 100)". Philippine peso (per 1), Singapore Straits (per 11 Bwiss trang (per 1

Netherlands guilder (per i) West German D-Mark (per

Cuban peso (per )

Agreed merchant

rates

ខ

Mitar

2.8034-2.00% 2.005 -2.004 10.139%-10.1336 130.9254-15.77% 19.3435-19.34% 11.22-114214 00.30-30.30

20.01-50.01) 13.M-13 804 14.-24.85 1743-174255 13.11.12.1

UPI.

RUBBER

SINGAPORE.

Closing prieto all in Sirolis

cents per 16. feb. Malayańs

porta:

No. 1 Sept.

AMSTERDAM

Closing prices ail in guliders

per kilogram, c.lf, Sept:

No. rubber

No. 2 rubber

NO rubber

No. 1 crepe

2.35 noin.

2.33 nom.

23i nom.

272 nom,

-- UPI.

COTTON

LIVERPOOL

Closing prices all in pence per Ib.

Dec.

No. 1 Oct,

No. 7 STU

10-30% 8044-001 13-05-

No. 5 Sept.

Spot rubber unbaled Hanket crepe

No. 1 pele crepe

Swiss francs, maximum sell- No. 4 Bept.

ing 76-178, Bolgin

francs, maximum

acilip 800.

What German dauischemarks, maximum selling 09-9/10,

UNIT TRUSTS

1-84

INI-IT

LONDON Closing prices all in pence per

16.: Nu,' 1 1 Apert

2011-02-4

Bettlement, Hous term

Hept Det. Oct/Dec. Jen/Mar."

Glenweral rework Beck

First Hongkong Fund: $1.10/ (buyer) $1.20 (soller).

Second Hongkong Fund: 20 | Det cents (buyer) DG cents (amiler), Kptato crept thin. Bép:

Organisation Ord-35 4

Paper

Bowater peace, ord-ds Sct.

De La Rue

Bulcers Ord=43_Qu

Dd.

Wlaglia" "Trape Ord--55x 3d,

Tobaccos British-Amer, Tób. Ord-85e Id. Carreras "33" Ord-4a 7510. Imperial Tobacco Ord-00 cu.

Motor

British Motor Ord-138 Dd. Hawker Biddley Ord-30s 1d. Jaguar Cars Ord-19 41d.

15oyee. OrdundĢE.

Aircraft-17

Textiles

Bradford Dyer-104.

10:50.

Callco Printers' Ord-12, nd.

Coats (JP) Paton & Bajdwind4y

Courtaulda Ord-33 d.

Fine Spinners Ord-23% 14. Lancashire

|_ Ord-85s 7!34,

Distiller Co. Ord-368 d. Guinnes Arthur Ord-528 Od, Ind Coope Ord-134 20.

Great Univerzal Ord--571 47 Great

Tigel xit.

Blouse of

Stores

"A"

Dd.

Lyona (3) ST

Orde Jd. Marks & Spencer "A" Ord-1008 10154.

United Drapery Grd-48c 9d, Woolworth P.W.) Ord.—St■" 10154.

Miscellaneous Bowmaker Ord

$34. Brit. Commonweal Ship. Ord-Ja Canadian Pacifle' Ord-$49-1/33. City of London Real Prop-s

Bleamship Ord-14 155, Cursul Land & Timbered. Furness Withy Ord-27 79. *** Hengkung & China Gas-23 Hudson Bay Co-4-17/32,3 Jado China Det, Ord-211 96. Land Becurities at 21 d. P. & G. Gleam Nav, De Ind

American Contract

24.30 24.75

25.20

25.00

od.

20.05

Mixed Contest

24,75

20.00

20.20

--UPI.

METALS

LONDON

Afternoon Bemlon

Closing pricom, ali in sterling per long tun..

Tin peri

2-mbr Copper, społ

Anoth

Lead Rool

3-11011175

Fine Spot

Huyaru Hallern

son

DET

U

Miner

Anglo American Corp. BA-1 Brit. Southa

Co-E

Dellish Tia investmen

De eere 6—134 4350.

London Tin

Mount Inn-66-201 sd,

Telating Tin-ite 7.

den Anglo-Amer. Ord-p

"Übailesian Belection Joted.

Trunt-tes

Thokane Cotp-45 94, Rio Tint Blancer)=359 Jud. goan Antelope Copper.de 21. Union Corporationin4lə, 1õige. Welkom Gold Mining--the de West Hank Svestment Trust44 10.

Western Fipldinge-11 105. Southern Matayan Tin~~$5#, Anglo Indonesian plant-4a 22. Ceflon To Om-19 24. Numarampur Kepong-laù $140,

Lember Rubber-dossier.

spokesman said,

He said the 27-foot long hovercraft is expected to sell well in underdeveloped arens of Latin America, Asia, Africa. larger version of the same type of aircraft is currently being

HONGKONG

STOCK EXCHANGE

by

Our Own Correspondent

Business done on the Hong- korig Stock Exchange this morning amounted to appro- tximately. $1,410,000. Noon and the morning's quotations transactions

Share

34

Buyers Sellers Balbo

65 (1048)

HK Bank

340

1.01.

IK & FE

INV. Ex All

Wharf Co. Wheelock

Now HK Dock Talkou Dock

Ch. Prov. HK & S.

Land

300 2001 362 50 360

200

20 + 352

World-wide campaign

to attract tourists

NORTH POINT

PEAK REPULSE BAY

world-wide campaign to promote travel to Jor- dan, the United Arab Republic and Lebanon STANLEY will be launched toward the and of 1961. The announcement was made

TAI HANG ...

WANCHAI

WEST MID-LEVEL

in Jerusalem recently following meeting of the directors of the tourist organisations of the three countries and representatives of Scandinavian Airlines' System.

The joint promotion will be carried on in the 56 countries served by SAS and its associate carriers on five continents. The campaign will utilise the entire range of modern promotional || HOMANTIN facilities including advertise- ments, folders, posters, Alms,

KOWLOON

and stories and photographs in HUNGHOM all news media. It is expected that the press campaign, alone, KOWLOON will be directed at more than 5.000

newspapers throughout the world, as Well as at televi- sion and radio.

81 Wellington Street. Lancome Storo, 5-A Arbuthnot Rond. Wellcoma Co, Ltd. 67-A Des Voeux RA C Shing Cheong Store, 93 Sing Woo Hond. Tack Sing Store, 47 Bing Woo Road.

Cheng Kam Hol, Corner of Broadwood de

Tal Hang Ronda.

Loups Hor Ke, oulaldo Chung Shan

Restaurant, 118-110 Belchor Street." Garning Medicine Co., 340 King's Road. North Point Lam Kee Store, 820 King's

Road.

Shanghai Store, 996 King's Road. Winner House, 310-310 Kings Road, .The Peak Stall, Upper Peak Tram Station, Leung Hung, 34 Spring Garden Lane,

"Ground Floor, Wanchai. Repulse Bay Hotel,

Ah Yick Store, 10 Wong Ma Kok. Stanley Store, 108-A Stanley Main Street ..Lam Shing Kee, Puk Kwan Ave

(garago).

Tiny Store, 7 Morrison Hill Road. Chen Kee, 45 Bonham Road,

Kwong Ming Cay 27 Banham Road. Wal Bang, 38-A ̈Bonham Road"

Asla Press Li. 09-A Waterloo Road. Tin Yat Store, 03-A Waterloo Boad.

chine Nam hook store an ba Thu Wul R CITY Kwong Cheong Store, 11-C Gramplas

Road. Lucky Store, 183 Boundary Street, Woo Ping Biore, 53-A Nga Tsin Wat Rond

The Joint announcement said KOWLOON TONG Crescent Store, 37 Cumberland Road. that efforts are now underway to establish a slogan which will be applicable to all three coun- trics.

The tourist organisations of the three countries have

endorsed the printing of 100,000 paraphlets in various languages.

MONGKOK

At the same time, SAS is in SIMSHATSUI the process of creating a special dossier of up-to-date

phoko-

graphs of Jordan. The U.A.R. and Lebanon to be used in con- nection with the global "travel promotion.

The airline also plans to dis- Iribute Aims to is offices in 1000 10.9 French, English, German,

10.79

11 1000

10.00

R

11M

00%

HK Realty

$100 49 009

400 up 83

(01) 2.175 3358 5000 @ 2.315

KMB

G000

0

100 10

Yoummats

Ch. Light ..

331%

2300 35

4000 34

HK Mostels

XD

34

Telephone

(Old)

2

៖

2 22 288 2082 22

100 0 20%

100, 35%

200 ca 2011.

1500 341

500 x 35

other languages.

Most modern airport

and

YAUMATI

Kam Wah Store, 128 Waterloo Road. Shum Kee Cheong, 1-B Somerset Road, Gay Store & Cafe Limited, 104-A Prines

Edward Road.

Tio Shing Store, 188-170 Prince Edward

Hoad

American Lloyd Travel Service, Ambassa- dot Hotel Arcade, Astor Hotel. Corner of Cameron Road, and Comwali Avenue.

August Moon Hotel, 25 Kimberley Road Goldlocks Co., 10 Mody Road.. Grand Hotel, Camarvon Road. International Hotel, 28 Cameron Road. Kowloon Bookshop, Mirador Mansion,

64 Nathan Road,

New Zenith Store, 115 Chatham Road. Palm Coget Hotel, 140-D Cameron Boad Sanny Co.. 00 Nathan Road, Swindon Company, 28 Nathan Hload. Yan Choong Store, 20-A Austin Avenue..

Exprereen Store, 300 Nathan Road. YAU YAT CHUEN Cыi Wal Store, 31 Begonia Hoad.'

NEW TERRITORIES · CHEUNG CHẬU

One of the world's most modem air contres-Las Angeles International Air- pert--has repched the Final construction stage. Served by Scandinavian Al- Hines System since 1954, when SHATIN SAS ploneered the Polar alior-

cut route direct between Europe

FANLING

and the US, West Coont,” “Los Angeles International Airport SHEUNG SHUI How handles close to seven mit- lon puissengers ä' year.

The Jetage has accentunted

TAIPO

the need for modern facilities. YUEN LONG BAS a year ago introduced DC-0

letifners on its Polar route,

cutting travel time between Los MACAU

2015. Angeles and Copenhagen to 22

3834

(Nights)

de m

1600

19.00

Gion .... Jardines ... 0.4, Coment Dairy Farm Watot

Amil Rub. Local P&P

jinderwriters

97

29

*E** ***

Bourd

The new airport, oficially

dedicated a few weeks PHILIPPINES covers 3,000 acres with mote

than Ave and's half miles of

TURWAJE.

The longest runway | SINGAPORE

10.30 exterid some 12.000 feet:

Los Angeles will be first lo

introduce a new concept in air TAIWAN

port design: two-levet tickejing

bulldh

with

"aalelllick

round which aircraft are parked THAILAND

The parking lot and ticketing

buildings are on the Arst level. After checking their 'baggage,

Passengers walk throug

tunnel to an escalator' leading

20.10 to the second level and the

Katellite,

The Matellites are so desiggrind

that bach building is on 'a lavet

«Faar Kai Co., 104 Ring Laing Street.

War Woo Store. 1 Laten Bhing Street,

Luen Woo Market

Lee Man Store, 10 Taipo Rord. Bun Run Co.. 203-203 Second Bireet,

Shatin Now Market.

Sheung Shui Hallway Station. Siell.

Ming Kes Biore, 49 Tu Shin Bizoo.

The Asia Co., 67-69 Main Street,

E. J. Batalha Da Silva, Montepio Bulid.

fog, Ant 14, 1st floor.

Far East Publishing Corporation,

Railroad and 13th Burrots, Port Are Manila

••Marion #Bone, 74 Orchard Road,

Bingapore, V.

Chiks Publications Distributors, Chang

An Road, E. Section 1, Talpol.

• Post Publishing Co., 144..

6. Mansion & Rájdamnern Aye, Bangkok

For further details write or telephone

THE CIRCULATION MANAGER

with the Jellner cabin, and SOUTH CHINA MORNING POST, LTD.

gates are installed 880 Begreps around the unique structures.

Average Walking distance from tlaket codmer to flir fi: duo feat.

1-3 Wyndham Street, Hong Kong,

Tal 24611