1961-09-07 — Page 2

THE CHINA MAIL,

Wall Street rises to

THURSDAY, SEPTEMBER 7, 1961.

World new record World sugar

rubber märket

New York, Sopf. 6. Rex rubbor futures today closed unchanged to four points lower with sales of 12 contracts.

Standard cantract cloved ve higher to 10 polita lower with sales of Rontructs.

trendi

Although quiet, the terminal market showed relative steadi- nes compared with: the lower

primary Art

gents that situation Dealers thought might reflect the increased ap fur settlement of the threaten-3 ed outbonubile strike, and the fnet at th SUN quite foreign markets,

New York, Sept. 6.

The stock market rallied sharply to an all- time high today. Trading was active with the high speed ticker tape late at the close.

The market was much higher from the start and continued to improve to the close with most stocks around their highs for the day at closing time.

Most gains ranged from a few shore, but cents to around $3 there were wider going among the higher priced issues,

Fourteen uf the 16 most aclive stocks advaneed and two declinel.

Tho

conference

Standard and Poor's 500 represents stock index, which

American Maching & Foundry | and more than 95 per cent of fl the actual trading on the New led the volume gained, up 1 Council. York Stuck Excliange, rose 50 lu 46% 03 82,200 shares. cents to 500.40, Its best rise Brunswick was second, up t since August 1 when it advanced to 597 on 80,000 shares. 01 cents. The rise put the Index Diegu Imperial

into

COMMODITY PRICES |

FOREIGA EXCHANGE

Closing rules;

Candita Engine

official

Austraila

AMSTERDAM

Closing prices alt in guidors per kilogram, elf Sept.

No. 1 rubber

No. 1 rubber

No. 3 rubber

No. 1 crepe

2.50 Buyers

1.34 buyers 2.31 buyer 267 buyer

--UPI,

COTTON

NEW YORK

1/71/32

2.8123

2.80335

2,0078

2.2500

2.8023

1.1005

1b:'

Byut

2.814-2.0813

Mar.

2.09 13/16-2.00 15/10

MAY

10.15-10.18%

July

132,00-130.93

Dio

New Zealand south Africa

Qthers unchanged.

LONDON

Amsterdam

btinܢܐܝܐ

19.3934-1936 11379-1123%

50.25-0.35 20.0194-2002 13.94-13.8ZIL 14.37-14.875 174436-1745

United Nations, Sept. 6. -

1958 Internationg) Sugar Agreement will be reviewed at a multi-nation conforonco opening in Ganeva on September 12. The conference, ́convented by UN. Secretary General Mr Dag Hammarskjold, is expected to Closing rates:

New York Beckman Instruments 34 and last above live weeks. Litton Industries 14.

Invitations have been sent to Montreal all 08 U.N. members and to Brusels members of the interim com- Copenhagen

Frankfurt mission for the International Trade Organisation, the Food OND Agriculture Organisation Paris

International Sugar Milan the

The existing International Vienna sli{{tr

come agreement force on January, 1, 1959 and will continue for five Article 42 of the agreement provides for an exuminution in Motors was fourth the third General

year of its "entire Bhokers estimated the mauudun the index, the quoted value up 14 to $7 followed by working," particularly in regard

on the ex-American Viscose, up 1 al 81%.

to quotas and prices. to be roughly under L-tg all storks sted dest and

tuder 1921 01 change gained about $3,000

and special Export tonninges Du Pont rose 2%, million.

General purbly with Singapore.

resolves st Electric twn, Chrysler

out in article 14 1% and

the first threo Te re ponent market, ul.

Ford 1%. Boeing advanced 3, apply, only for or 1,270 issuss traded,

Now all in cents per lb American years of the agreement, advanced, 481 duellied and 233 Northrop 14, North Jerings were rather glat."

There were 1, and

tonnages need to be fixed be- Es of Fariasia, offerings closed unchanged.

fore January 1, 1982-UPI, site Bure andiers it the new high for the year and 27 cents; tour ambers at 25% cepts, The browns 26% cote: on ex-browns 27 conts; and three ex-browns 28% eents, all shipment, S plenther - October

treight, Locally spot POST and No. 1 RSS was quoted 395 cents and current month 394 entsa pound romnat.

ined

፡-

socal murivrt is bit under The

San was third, up nt a record high, exceeding is at 14 on 58,400 shares, previous high of $68.44 set on August 2 by two cents, Based

(17 new lows,

Cars and steels

The cars

582

and steels led the thut an

AP.

United Aircraft one.----

Closing prices

Allied Chemical Corp Allis Chaa... Aluminium 4d

American Tel and Tel

strong advance. News

Petroleuni inmediate strikes in the US. car Atinum Company industry had been prevented American Can....

They were American helped both groups.

Crunanid Ainertean Motors In Singapore, despite a rise joined by the electrical equip American Smell and Tetin overseas there was little follow meats, chendicats, aircrafts and American Bugur through Focally and after 4pper. Some of the electronics

higher

the declined. alghtly

openity:

with buyers market declined

served.

ruled Very quiet conditions throughout the morning with lower sheet interest small and selective.

Trade selling in the afternoon at the took prices off to lose day's low.

with

Lowers were neglected sellers prepared to meet buyers,

100

years,

Exchange rates

NEW YORK

Closing prices all in cents per

LIVERPOOL

33.30 num

34.47

30.02

34.00 35.90 30.10

35.32

Tin mining stocks tumble in

London market

London, Sept. 6. Tin mining stocks took a heavy tumble in a subdued market today when industrials turn- ed irregular within a narrow price range.

Most movements stayed small and indecisive in

restricted

trading but some store stocks

and real estate counters went theud under selective buying while steel stocks cused.

Bewater paced poper stocks

Closing prices all in pence per into lower ground on their lower profit margins, dipping 20 Gd to 50: Bd. Unilever turned dull.

Stockholms

Zurich

1b.:

Auterloan Contract

1.13-13.13

Oct.

24.30

72.52-72,83

Pee.

--UPI

haar.

24.75 23.20

May

July

Oct.

Dre.

Mixed Contract

Del

MAY May

RUBBER

NEW YORK

Rubber futures closing prices,

Rex Standard

30.50

30.40

29.93

29.95

20,30

30,30

20.65

20.63

20.10 7.งด

-UNI

METALS

Tins

lost several shillings following the big dip in the metal's price. Selling came both from the east and from London and one of the lenders, Tronoh, Other dropped 78 3d to 345. mining stocks were dull

Bonds

HONGKONG STOCK EXCHANGE

by

Our Own Correspondents

Business done on the Hong- kong Stock

Exchange this morning amounted to approxi mately $3,250,000. quotations and higher transactions:

Long-dated government bonds moved small fractions but other gill-edged were unchanged.

counters

Dollar stocks ended mainly! lower despite a minor recovery from a shaky stort.

Noon the morning's

Sheres Buyer Sellers Balen

TKC Ljusk

360 |

Oils hardened near the Anal! NEW YORK

belt but still were losers on the lon. Res. Closing prices all in cents per day. Sheli were is Od lower al

110 shillings.

Rubbers and teas calmed.--UPI.

302

10 a 350

40 300

40 or 304

08 200

200 v/ 262

260

20 gr 284

were be- Wharr

Ailled Inv ILK. FE. Inv.

Ex. All

Wheelock

10.20

22,40 319

11.10 1120 1000 ₫ 11.30

1000

1000

120

2000 11

Closing prices

Sent

Nov.

Jan.

Mar

May

Juty

Segil.

SINGAPORE

b11

Closing prices

1 in Straits

77

cents per in. fub Malayan ports:

43

42

Business was done to the unmetal Exchange

torni No.1 Sept.

niorke this

No. 1 Def,

184

sa

U.S. dollar (per $1) Sterling notes (per C11

ntorning at the following rates:

......

No. 2 Sept,

not-acu 07-0714 25-30%

1b.:

Leat

3.700

No. 3 sepi.

15.03

Sept. Oct.

10.37

No. 4 Sept

1201

Australian rates (per Eu

12.M

Spol rubber unbated

Zinc

E-p

Japanese yen, (per 100)

1.48

Blankel crepe

76-70

Sept.

11.03

58

Cambodia riel (per 100

9.55

No. 1 pale crepe

POLY-9716

Det

11.00

French new frame (per 11,

1.15

Cupper

47.

Indoneala tuplali (per 100)

3.10

LONDON

Sept.

31,22

Brexitan cruzeiro (per 100)

1.00

Del.

31.3H

$31,

Argentine peso (per 1001

$30

Closing prices

19

Korean hwan (per 1,000)

3.30

ail In pence

05

Italian in iper 1,000)

$.00

per 16.

LONDON

42%

Chinese J8115 (per 1

041

No. 1 ar apot

532

Talwan yuen ber 101

1.34

Settlement house

.......... 2011-2534 Lerm:

Closing prices, all in sterling per long ton.

01

Thai baht (per 100)

27.05

Sept.

25-257

Burg Warner

4412

Burmese kyat (per 101

6.70

2321-251%

flurroughs Corp

301

Pakistan ripee (per 50)

7.10

Oct/Dec.

283-251%

Tin spot

Canadian Pelle alway

Macro phara (ber 1)

9.394

Jan./Mur.

Cake, J.

1. Co

-91%

Norweglon kronie (per 100)..

7.05

Apr/June

Copper spot

buyers sellers

101.5

23344

B. German Da

934

B. Japanese,

130

Anrelays Ord--721 01.

Philippine peso iper 11.

1247

July/Sept,

251-251

Singapore Straits" iper 11

1.80

*

Chartered Dank-821.

swiss trane per 1) Nethertanda güllder (per 1).

1,30

Sept.

-2876

Guardian ASTON

1.54

Ogl.

Hongkong Bank-£10%,

120

Lloyds Bank

Lombard Banklag

Americas Talinevo Anaconda Company Armed Steel .......... Arindur And Company Asmented Dry Cootla Allnati Rening Baldwin Lima Hamilton

Cor Bethlehem Steel Doing Airplane

The Associated Press 60 Stock Average ruse 1.601 to 256.10.

The Dow Jones 30 Industrials were up 7.2 to a new historie high of 726.01. The previous pek was 725.74 registered Aug. 22.

Volume rises

Valtune

prices. The market closed quiet, shares from

rose

15 3,000,000

Ia London, the rubber market i traded yesterday. was quiet with spot down 1/8th

to 25%. No. 1 Rss spot 2595 2534.

In Amsterdam, the rubber mpritet was colin and stendy to- day.-- UPI.

A feature was

Business Machines

Borden Co

Celanese Corp Am 3.440.000 Cerro Corp... shares Chrysler Corp Service

International

Coco Cula Corp Colgate Fidanolive Commonwealth Edison which rose Cormalidated Edison

Continental on

16 to a neve high of 547 2.

Wide loser among electronics Included Texas

Canadian Pacific

OFFERS

Corn Products Co

Crane Company Crown Zollerbach

Instruments 7. Curtiss Wright

LOWEST, FARES

TO

NORTH AMERICA{

ECONOMY

$308.40 LESS THAN JET FARE*

Disul Corp-Seagrams Dutigias Aircrati Dow Chemical ........ Dupont De Nemours

Eastern Air Lines

Easimas Kudak

Food Machinery & Chem

Ford Motor Co.

General Dynamics

General

·Electric

General Mills

General Motors

Georgia Pacle Corp

Gelly Ol

Gillette Co.

Goodrich, £. F. Ca,

Goodyer Tyre & Rub.

Grace, W. R. & C.

Guif oll....

Ingersoll Ran

In

Ini

Business Moch

Harvester

In Nickel

fall Paper Indi Tel & Ti Jones & Loighlin Kaiser Aluminum Kermecent Copper Libby Owens Ford Liggett & Myers Locked Are Lone Star Cement Lorillart. P. Co.

Martin Co..

Merck Company

Goldwyn Mayer

337

Minneapolis Honeywell

Minnesota Mialng & Mig

Monsanto Chemical

Bongomery Ward

2919

Moore McCormack Lines

11

Motorola Ite

National cuit

71

National Cash Register

National Dairy Prod

National Dialers

National Gypauni

National Leat

New York

Northwest

Ohio Oil.....

Pon in World Airways

Olin Mathieson Chein

Pocille Gas and Elec

Parandurit etures

Pernkylvania RR

Pans Cala

Pfizer, Charles

Phelps Dlge

Philip Merria

FIRST CLASS $513.90 LESS THAN JET FARE SUPERIOR INFLIGHT SERVICE

Philips Petrol l'ure Oil

Quaker Oats Radio Corporation Raytheon Company Republie Steel

Revoulds Motais Reynalda Tobacco Royal Dutch Petrat

Regs 'njing

Seare Anebick

shell 011 4

LOUNGEAIRĘ

Exclusive

with

Canadian

Pacilic

9 INCHES MORE LEGROOM

FULLY RECLINING SEATS 'NÒ MORE THAN JEȚ FARE".

Round Trip-Heng Kana/West Coast

Fly Canadian Pacific'

Shell Transport

Sinclair Qu

Soenny Mchil ol

| South" Am Gold & Pint

South California Edison

Routhern Company

Sperry Hand

Standard Brande

Mandard Oil California

Blandar Oll Indian

Biandard Oli Neo Jorney

Mondlard Oil Millo

Blerling Drug

Studebaker Packard Texaco Ing....

Larompzaa hama it'

Tidewater Ol

Twent Cenility Fox

Tone World. "Airlines

Union Carbide

| Union Of California

Union Feite

| United Alferaft Corp

Tiniums Mr. Tandi

112

; US Indilatt lewe

19.8. Linki ...

V.R, Bubber

UF, Amt & Refin UR. Ated?............. Warner Bros. Pictures ||Western Union TAL Z

WWW

Electric [Vale të Triwm, É Youngstown Sheet de

Zentul W... Market frone a

| Total Block, Bale

WANRI #Točí

Bank of Americe

| Cham kennymatian

Het wor

Murgan “Glventy

201

015

17

10

40t

时间

10112

West German D-Mark (per 1)

Cuban peso (per 1)

General markets, gif. basin, ports:

Estale crepe thin Sept.

flack Sept..

Two of Britain's

3-month

3-auth Lead Sput

3-month Zinc Spot J-manthi

richest

combine in a

men combine

big_property_deal

By EDWARD WESTROPP

London, Sept. 6.

My city informants tell me that two of Britain's richest men

Mr Isaac Wolfson and Mr Charles Clore-are combining for the first time to do a big property deal.

a scheme to This combination of money-making talent is considering

in capitalise on the shortage of office and living accommodation Israel.

They believe there is a great scope for building development in that country which would not only be of beneft to local in- habitants but proftable to in- vestors.

Mr Wolfson and Mr Clore are lo start work on the details this weck.

15%

a'minimum return of 10 per their hands on your lolly ba cent per annum."

cause as feat on it comes in There's a major-general as they lend it out to house chaluman of this business which | buyers,

Is called Highland and Northernt The interest rates are being Dalty Farms. But the piggles jacked up and such grant have the edge on Blossom and societies as Abbey National Buttercup because they offer and Woolwich will soon offer not 10 per cent but 15 per 3% tax free which la equiva- If all goes well and the Trea- cent plus a noble lord as boss lent of around six per cent Mary are sympathetic some of in a concern' called the Live- gross.

the shares of the new company | stock Group. will, I hear, be marketed

London.

in

No doubt all these people

are full of enterprise, integrity You can be sure that the issue and what have you. But I'm

Bat there been

case

Repayment

You will perceive that this will go splendidly. For never, marry to say I completely re-

Is marginally lower than the think, in recent history

the rates offered by

councils bas tune to accept the muggestion

I've mentioned in which

but whereas that "armchair farming" abso- two such polent names will be lutely secures

fixed intereat the latter ank you to deposit brought together on the front payments at such high rates money for a fixed term of years of one prospectus,

the building societies will make I regard things of this sort as repayment at short notice if Because of the credit squeeze pure

whatever speculations everybody is after your money, major-generals and earls may That couple of hundred tucked feel about it.

54

ADI

31

30%

701%

41

| eway in the bank or under the mattress becomes of tremendous

47%

In

11.

501:

27

77

Importance to all sorts of people

who have all sorts of uses for

Interest rates

you require

Both counelis and top'llac building socletion are entirely safe investments and which You choone must therefore de-

elrelinstances. your

pend ofi Next on my Bat are the local

So you, my readers, who are authorities who are Ecccering

the cream of the investing pub- very lavish indeed with the lic are on the pig's Uuck. And interest rates.

1 Indded as I'll presently" explain

DO

For some reason which I do

culatiori Which w cheer that I've made an interesting cal-

neke body of investors who 4415 you

may 4180 literally and not seek to explain it would sold their Ford shores last au- yourself in that position unless appear that the more leftwing mn to the American parent

the local Member of Parifa company. 1916 you are very carefull

ment the higher the Interest Just before the bid of 1457- rates.

was announced the shares stood I'm talking at 017- fr If you think

£1

23%

Contious

the market. If

Just because your money Is through my bowler hat let me there had been no takeover i 140li so keenly sough111 pays to be point out that Cannock, which

doubly cautious. So let us do

35

is in Jennie Lee's constituency

a bit of widow shopping and is offering seven per cent and

101117 10 relate the risks to the

returns. 170

It must be sold ni once that bơ, the dear' thon-cows and piggy- lagles' ippées" to offer the ghest returns of ott,

that Ebbw Vale (Michael Foot)

is tempting you with" 09. '

In reasonable to suppose that

the Ford shores would have behaved in much the same way na' those of DMC. In that case

they would now be down to

Being a good capitalet who la ready to

Lake money around 4».

You will therefore perceive anybody as long

that" beenuse

of intervention security a pod. I donjaro from Detroit thene investors

Hi

although I detest the pollies are nearly twice as well off of their MP I like the interest as they would otherwise have rater offered today ký"Can-| been,.

Investors are being inundated ADR WAN 1eraturo about them. Nut even the copy" 'sto spared. 18h Tý fact there's "àn"Advertise- nock and Ebbw' Vale and kny

Looking far ahead At the Hiilient in the newspapers "daler- others offerinæ vimilar terma. time I thought the takeover a 300ing for policemen whilels “anya My foundup of fixed intelegt nad pity. But it'must be ad- Wanted Daisy and Buitefgup securities would be incomplete matted that on a short tenn Slips Bodom by all putke without a mention of the big view it could not have come

Officers' "Wit T eye to the building woofeties.

nt a better ting for share-

·Futura who require

sound]"They- aro ka koon as any-iñoldere:" a London *** Exprovi @gricultural · Investment giving thuig at the moment to lay Service.

08-173

-AP.

British Government Securities

• Consolated-3372

14. Savings 1955/05CQ-11/10.

2. Savings 1800/70-275-11/18.

Baving 1985/73

1965/75-97-13/18,

Oversenk tond

Banks & Insurance

Brit. Merchants Insur-2x 34.

Landel Trust.

b.

Ord-14 7

National Grindley-32 ed. Prudential Aakur, "X"-21-0/18.

Canada-£18. Royal Bank of

Royal insurance Ord.-157 9.

OB

British Petroleum-44% Od. Mexican Eagle Ord Id. Shell Transport Ord-110. Royal Dutch-C11-11732. Ultramar Company-258 14.

Bteris Enginer 34.

Habcock & Wilcox Colville Ord--90€ 04.

Guest Kern J.

New 10.70

ཌ

11

G

4000 11.10 2003 11,20

2360 » 11.20 410 of 20.00 RADO 11

1000 10.80 3000 or 10.00

IIK Dock.. 103 107

200 106

200 200

Talkoo.... Provident

021

20.00

HK Hotel

38

64 $414

::

IIK Land..

HI Realty Ex Div HK Trani

2.30

2000 1 28

600 03

200 in (35

2001

2100 or 63!

2000 H

2.33 10000 co

7500

3714 38

K.M.Bus

2015 7114

Dorman.

3d.

Harland & Wol Ord- Jd. Melat Box-2 70 Stewart & Lloyds Ord-438 3d. Summers & Sons Or43 cl.

Yaumati

112

Ch. Light

33 3516

Tube Inves425 3

United

Vickers Ord-32

Assoc. Eire.

740.

30.

Assoc. Television "A" Ord-30s c

Brit. Electronie i

Birmingham J.

Elec. & Mus. Indu

English Electric

- Dit.

34. 38.

IK Elec.

XD

36 30

General Electrie Ord-31 Philips Lamp Works---18/10. Realffalon Ordmin 111⁄2d.

Industrials

Assoc. Portland Cement-746 4140. Hoardman Marden Ord-03. Borax (Holding)-16 d. Decca Records Ord- 31. Dunlop Tabber Ord-26a 6d. Gilman (Holdings) Ord-da Gd. International Computer#=-920 34. & Newall Ord.—ale 41;0. Unlever Ord-143% Bel Wiggins Tape Ord-Ha t

Chemicals Imperial Chemical Onl¬ds 30. Monsanto Chemicals Ord-17 70.

Cinemas & Television Assoc. Ert, Picture498 · 176 d. Itark Organisation Ord-24* ̈7:40. Stoll Theatres od.

Faper

water Paper Ord-50 01.

Rue Urd-an. Spicet Ord-43 4. Tobaccos British-Ainer Tou, Ord-06, Carreras "B" Ord~49 10990. Imperial Tabacco Ord-its 3d.

Motora

Britan Motor Ord-13 75%.

· Cars Ord-101× 34. Rolls-Itoyce Ord-4 d. Wertland Algeraft-101.

Textiles

Juzuar Siddeley Ord-30% du.

Bradford Dyers-10 35.

Calico Printers' Ord-13t

Telephone

(old)

401% 12%

(218). 10 16.40 1822

500

#ફ ક

15.60

858 725 20 21 10 K GAB.... 19.00 20 1000 er 19.10

Gilman

4.30

Jatilinaz

500

3000 $1

100 1916

603 117.30

22000

12

200 108

BUY 10.70

I

4

2000 19.90

4.30 2000 49.436

1000 4.30 1000 4.275 sing 30 3000+30 10000

... 23.20 23 40 150 or 23

1

Coula (JP) Paton & Baldwins-441 | G.J. Cement Courtaulds Ord-34# 111⁄2d.

Fine Spinners Dril-212.

Lorienshire Cotton Ord- 1012.

Breweries

Putullara Co. Ord, -30% 94, Guinness (Arthur) Ord324 Go. Ind Coupe Ord-fða 494,

Яшет

Fitch Love! Ord-10x 3. Great Universa} Ord--55%. Great Univerani "A" Ord-40.

House of Fenter Ord-38% 70, byana (7) "A" Ord-8712 Marks & Spencer "A" Ord--182 Zil.**

Tate & Lyle Ord-40 111⁄2d. United Praw. Ords 101id.

Ordis ft. Woolworth

MiscoplastenUR

Bowmaker Ord—134_

Trif. Commonweal

F 4.6

1000 2100

150

23

1900 à 21.40

1800

250

23.20

400 KR 2370

500 33.30

50 OR

1000 87

Dairy Farin 352 3514 300 353

Watson Textli Nanyang

A Hubber R. Tru.. Ligal

3009 4 303

000

500 € 342

47

6.00 £111.70

4.00

7.10

209 6 29.20

300 or 2935

1. P. 20.70 29.00

Ord-30s

7150.

City Hotel.

Canadian Pacific Ord=1443;.

Cunard Steamship Ord-1 au Forestal Land & Timber-line 4140. | 1... Craw

Furnese Why Gru-97m 735d.

Hongkong & Chian Ga

d.

Hudson Bay Co-19, Indo-China Dat. Ord-1

Land Becurities Ord-20s 90,

P. & C. Strats Nav, Def.-te pd.

MINY

Angja American Corp.

Jd.

BA---1273

Frit, Bouls Atelen Co-19 3. fritin Tin investment-2174. De Beer DJ¢f~~1759)||-* London Trl Corám201 34. Minme ted one!! Polving Tin 10 0. Banu Hejstion—286 1444.

· Or-000. thodesian Belection Regem Corp,-49 24. Bio Thisto heary)=-43 344. Rusi Anleidi copper a Union pratique OATE, Welken fold Mining—im dj. Want Rank Investment Trift-49,

Holdinge-130e 10544.

Angio miestarf Plant, P.

יל השונא

Imiterio Ten stra-jod 31.

ft, 12c.

HK Mine

Humphreys

Star Ferry Macao Elec.

W.

39

10.

14.90

1000 29.00

400

500 29.00

20ù di 20.70

2400 * 2#

300 3744

100

1000

20,

1000 61 37

7400 a 180.

0000,

Agreed merchant

rates

Deulachemarka.

Germion maximum selling 09.

UNIT TRUSTS

First Hongkong Fund: 41.12 (yer) 111(sellery

Bocond Hongkong Find: cents (buyer) 92 cents (apiler)