1961-09-14 — Page 2

A

THE CHINA MAIL,

THURSDAY, SEPTEMBER 14, 1961.

New York stocks show

New York, Sept. 13.

The stock market moved slightly higher in

moderately active trading today.

slight gains

The market was a little higher at the start, went substantially ahead in the first hour, but profit-taking following yesterday's brisk Ada Company rally erased most of the gains by the close.

New York

cotton market

re-

New York, Sept. 13. Cotton Futures today opened

and slightly lower mained on the defensive for the rest of the ses sion, closing oround the day's lowest levels in an extremely quiet market.

Finai pries ruled off I rine poluts, The market opened GIT twu In 10 points. New Orleans closed up live to off six peting.

With effort of hurrkane Cavin friders Appareilty decanted, Joker pinwhere runtives.

for new in-

Most gains ranged from a few cents to around ude dobar u share, and there were nearly as many listys in the same range,

Standard and Pour's 500 slock index rose modest five cents to $08.01.

putting

Ariners Steel

Armutar & Company Associated Dry Goods Aliantic Relining

ilaldwin Limp Tamiln

Bendix Corp. Bellichem Steri Poeng Alplane Tordell Bo Burg Warner Burroughs Corp

Came, J. 3.

Pacle Railway

2 only 45 C'ynasin, Co.

conte before its historic high setelui Corp An

est Wednesday.

or 1.279 Issues traded, 512 advanced. 500 declined und 258 closed unchanged. There were 42 new highs for the yene and

15 now lowe,

cals

Electronics

Lerio Corp ... Crater Corp Cities Bervice Coeu Cola Comp Colgate Palmolive Commonwealth Edtsen Consolidatied firm Continental Oil Corn Products Co. Crane Company

| Grown Zellerbach

Curtis Wright.... Distill Corp-Seagrams

Langīna Aircraft Dow Chemient

Dupont de Nemours

Fashnan Kodak

Food Machinery & Chem

The electrantes held gals to the end, along with some of the irlines and drugs. rubbers. Non-ferrous metals and chemi-Faster Air Lines

were lower and her major groups were mixed.

Itu Associated Press (10 sturk average ended unchanged B1 255.80.

Volume

TERE!

13 3,110,000 Iron 2,350,000 shares shners

rated Tuesday,

The Dow Jones 30 Industrials moved against the trend, falling

at minor 41 at 722.20.

WuB

Street analy»ta

the continuing

wald

labour rite

a giant General Motors and the tense International -

Ford Motor Ch.

GetRestric

General

General Mills

General Motors

General Telephone Georgia Pacific Corp Getty Oi

Glitete

Goodrich, 3, 2. ce

Tyre & Rubi.

GOVUZER & Co

Gult of

Ingersoll Rund

Jail Hüsiness Machi

Int Harvester

2011

In l

Ini Tel & Tel

Jones & Laughlin

caution to the 1 Caiser Alumium

tion brought beate

Must of the activity while was represented in spot- bonise transferring

short I

- Detizer to December 51 a dif- ference of artin 53 points. Other spot interests were small mitright" sellers of May.

estimate

August.

was

1+

£1

bles

un

market.

Kennecolt Copper Tabby Owens Ford

Lockheed Alre Lane Stor Coiment Lorillard, P. Ca Marián (to..

Studebaker-Packard again ledett Myers the volume Bat, off at 11%

101.600

shares. General Dynummies was second, up 1 lo 30 a 44,900 shares, Ford Motor was third, off at 983 on 38,400 shares.

Pose

Merck & Company

Metro Gohlwyn Mayer Minneapolis Honeywell Minnesota Mining & Mig Monsanto Chemical Montgomery Ward..... [Moore MeCommack Lines

Motorola Inc.

National Docuit...

Northwest Airlines

A continued firm tone in the hud effect in spot murkyt

market sentime bu! Fel

Chrysler was fourth, up to smaller sack, apparently

follower hy General consumption for Motors, up in 479.

I'll

24 ariat Wall Material Cash Register Consumption of all motion in Street rummun, of a tie-up with | National Dairy Prod the United States last month Pard. After the market clored, National Duties

National GY placed 1 80,000

Fard confirmed it plans to pur-National Leid against 684,000 bales in the chaso Phileo assets through a New York Central same period last year, arvording exchange of“ Nturk, to the New York Cotton Ex- change Service Hurzu. The daily rate of us just month was ger

at 33.066 hales against 34,200 bales a year previous,

Haw cotton exports fur the through September 9 futalled 449,520 bales against 154,818 bales in the same period last season, the exchange abo reparted.-UPI.

3244

UNIT TRUSTS

American Borne Products was

a wide gainer, up 10% to 2512. ts when-issurd stock, resulting from a stock split, was up 4

10 384.

Other gai

included General Electric 12. Goodrich and Schering 2.—AP.

Closing prices

Allied Chemical Corp.

Allis Chalmers

Aluminium d

Aluminium Company Anurada. Petrolma American Airlines Amerkah (20

$01

2014

his

Olin Mathies Chem

Pace Gas & Flee

Pan Am World Airways Pennsyvani Pasemount Thetores

Pepal Cola

her, Churies The Dodge

Pure On

Petrol

Quaker Cale Radio Corporation

Raythern Company

Republic Steel

Reynolds Metals

3416 | Sperry Bald 131

Barkland Branda

Standard Oli California

201

HONGKONG London market Big U.S. loan

STOCK

EXCHANGE

by

Our Own Correspondent

Business done on the Heng- kong Stock Exchange this mura- in amounted to approximately $1,300,000, Noch quotations and the morning's transactions:

Bhcres Buyers Beliers

Allied Inv

H.K. F.E.

tuyest.

What? Co..

4714

2

Standard On india

6!

Standard Oll New Jeracy

Standard Oil Ohio

5412

067

Sterling Dr

Studebaker Packani

Texaco Inc

531.

ひつろり

Thompson - Ramo W

40%

Tidewater On

201

29

Twent Century Fox

2434

Tram World Alriknes

Union Carbide

2611

Unter Of Colifornia

531 K Bark

304

245366

Union Pacific

Lon,

Beg

200

する

52%

22.30

300

47%

Wheelock

(Okl

1120 11.30

400 11

1000 11.40

3+3

12000 op 11.30

0712

Pictures

3000 11.30

2314

BOL

Western Union Tef

10

Weslinghause Metric

(New).. IIK Dock

1000 11

1.10 112

500 4 11.10

1300 112

43

Yale & Towne ...

200 112

304%

Youngstown Sheel & T

400 e 113

200

12

Zed:th Rediu

100433

103

2294

· Market Tone

Total Stack Sales

Higher 3,310,000 AP

Taikoo Dock 032% 00 C. Provident

400 00

2016

200

30

250 50

HK Hotel..

600

HK Land

#5 03

United Aircraft Corp

United Air Lånen

fried Fruit

10:15 20dustries

S. Lines

U.S. Rubber

U.S. Smelt & Helin

U.S. Steel................. Warner Bros

$14

World

rubber

market

New York, Sept. 13. Rex rubber futuros

today closed 30 to 50 points lawer with sales of 20 con- trocts.

Standard contrnet closed 20 in 35 points lower with sales of six 24 controls.

47

10%

100

17

404

403%

87

18

20

S

HK Realty

1K Tran

XD

Youmati

Ch. Light

2.30 2.375

1000 / 054 000 u 05 20032.35

tv 7.325 1000 14 2.35

200 3915

20

OH - 25

114

300

12

500 114

36% 30*%

100030

UK er

371

1K Tele (010)

415 413%

Ata

16.00

17

200 de 4155 5004192 250 4115 1240 24 10.50 148 2000 125 18.00

223 a 10.90 62 2830

203 17

declines after

early gains

London, Sept. 13.

A burst of early cheap buying added pennies to industrial stocks but the movement lacked follow-through and the leaders drifted afresh to close lower on the day.

Trading rtayed thalm and, while selected engineering equities and steel stocks pushed ahend, most other groups turned dull, including stores and elec- tricals.

British Motor Corporation new low for went to another the year at 13/34. Dunlop lost

with а fraction

Imperial Courtauld, Chemical,

Rolls Royce and Lancashire Cotton. Oils ended a shade higher.

Covernment bonds tacked support and lost small fractions, War Loan 34 per cent losing

to 1/181A

£53. Gronks and some Japanese improved in the foreign fonds sector.

South African influences push- ed gold mining stocks higher but the counters Bow little actio! business here. Disturbancey in Katanga pushed coppers lower

met but ins

demand and 2/0. jumped ahead up to twe

Doom Dooma stood out in teas on a new bid move and vaulted shillings to 49 shik lings. Rubbers were neglected.- UPI.

Closing prices

British Government Securities Consolidated-4381⁄2. Conversion-£61-15/18, 3% Savings 1055/80 08-11/10.

1060/70-£7346.

300 or 17

ITK GA

20 30 20 40

ZUG 20.40

300 2015

25

200 m 20.30

215

Gllinst

4:30 4.370

300 4000

3

:000 4.33 1000 133

the

Jordings

23.10 21.00

600

2000 68 4.33

500 21.70 350 + 23.00 23,90

Liquidation by commission Ani dealer hedging weighed an prires, with pressure reportedly influnced by the lower London-Singapore ibles and the discouragingly slow consumer demand locally, with some unconfirmed reports suggesting sales by erdur-hun- gry dealery of spot rubber at below a replacement basis in the Far East.

300 21.00

24

4.60 3000 5.53 11.80 1000 ( 19

100

2150 9 23.90

1000 23.30

G.T. Cement Dairy Farm

Co

336

30038

1000 of 2014

sincere XD

Textile

Nanyang

8.10 653 1145

A. Rubber

5.80

R. Trust

4.30

256 64 8.70

355 1.70

Indo-

Loend

09

100 29.80

34%

at 21

ang

cents a pound, eest and freight,

30

6212

Brukers

sak light shipment

1 offerings Included somu

nesian at bark erepe

5 locally. spot No. 1 Rss was

quoted 30% cils

and current

451 month 30 cents a pound, both

14032 uominal.

In London, the rubber

품

P. & P., 9.07 29.80

1. Craw.

.

30%

Rtf DC.

Asia Nav.. 1.773

Reynolds Tonera

24

Tayal Dutch Petral

303

75%

Stegis Paper

Car-

2112

Sears Roebuck

45

ket was duli

First Hongkong Fund;

51.14 American (yinamid

Shell Transport

1521

ni

25 9/10,

with spot quoted No.

1 Kss 2014.

Ch. Emporium

American Motors

Slackir On

3,ཎྛཱ}

Amerir Salt & Refin

Socony Mlobit Dil

4231

Antureiran Sugar

South Am Gold & Plat

9

Anurries THA TA Amertean

In

110

South California Edin

7744

ero

95%

southem Company

market way

UPL

(buyer) $1.22 (seller).

Seeund Hongkong Fund: cents (tiyer) 35 rents (seller).

Neocide

Neocid Fly Blotter

EFFECTIVE

for 3 weeks' duration

ECONOMICAL

CLEAN

ODOURLESS

ODTAINABLE AT

ALL LEADING DRUG STORES

& CENERAL STONES

25%

Amsterdam, the rubber

very dull today,----

Commonwealth

leaders voice

concern

Accra, Sept. 13.

Commonwealth

financo

feaders, led by Ceylon, voiced unanimous

corn

con-

today at Britain's negotiations for entry into the six-nation Com- man Market, informed sources said.

In a closed door session, de- legales to the Commonwealth Economic Consultative Council quentioned Britain's assurances the would proleci Common- wealth intervals In Common Market talks next week in Paris, the sources said.

also

The Finance Ministers were reported to have express- ed doubts about British claims of advantages she would enjoy as a Common Market member,

Mr Felix Dias Bandaranaike, Ceylon's Finance Minister, saki Britain's possible entry would involve serious political Implica tions that would weaken her ties with Commonwealth 11071-UP).

AMERICAN STOCKS & COMMUDITIES

WHEN

na-

Macau Elec.

Int'l inv.. HK Mine City Hotels Humphreys Kelantan Rape

Cold. Maca.

[Ord.)

20

500 M 20.10

#300 0 30

1000 33

100 30%

500 to 30 $100 or 1ặc. 1300 The. 1344 c.

Bc. 7170 << 1.85 2000 G# 1,825 120001 835 113 11

14.30 1000 60 14.20 13.00

Bc. 10.

3014

20

2.30

45 40

60

Chicago

grain market

Chicago, Sopt. 13. Corn futures closed firms, but late profit-taking erased a general advance in other grains today on the Chicago Board of Trade.

September

Aoybeans paced the market through most of the day. Active demand came on fears that heavy rain In the midwest would delay harvesting the now crop. Deterred months were also la early de- mand.

Large export sales supported wheat in the face of active commnission selling. Liberal offers of December were made at $2.06. Italy reportedly bought nearly 6 million bushels of hard wheat and turkey 2,140,000 bushels of reti.

Wheat closing range: off to 1⁄4 ceni.

closing range: up 4 to u cent.-UPI.

Soy beans

Exchange rates

3 185/70-079

31974, War Loan-485

Overners Bonds

5, German (Dawest-2. 5. Japanese, Assorted-£140. flanks & insurance

anrelays Ord-12s.

3d.

Charlared Earsk--83 Guardian Assurance-Dia da. Hongkang Bank-£ 17. Landel Trusted By, Lloyds Bank-led. Lombard Banking Orde 3d. National & Grindleys-33. Prudential Aastır. "A"--£23-3/10. Royal Bank of Canado£275. Royal Insurance Ord.-131 3d.

British Petroleum-458. Burmah Oil-Ks. Shell Transport Ord-13 . Royal Dutch-C11-3/16. Ultramar Conany-28 71.

Btrets Engineering Babcock & Wilcox Ord-256 vd. Colvilles Ord-53 744.

Dorman, Long

Guest. Ke

OR

Harland & Wolf! Ort-17a vel,

Stewartz & Lloyds Ord42 5. Summers & Sons Ord-49 1750. Tube Investrenta-ala 0. United Steel-42% 8d. Vickers

21 d. Electric Industries-17 30.

Motors

Briti Moter Ond13 34. Hawker Birley Ord-30s. Jaguar Cars Ord101 48. Hois-Race Ord-1. Westland Aircrafi-18s 1150.

Textiles Bradford Dyer-101. Color Printered Ord-13 1195, Coal (JP) Paton & Baldwins -43%

Courtaulds Ord Fine Bainners Ord-2 Loncagle Cotton Ord-32 1

d

krowertes

Distillers Co. Ord-30 425, Guess (Arthur) On-831, Ind Conpe Ord-By 14,

Glorea

Great Universal Ord---SAN. Great Universal "A" Ord-43 Pd. Huure of Fraser Ort-ils 30. Lyon (3)A" Ord-671 73d. MATKA & Spencer "A" Ord-100

Tate & Lyle Ord-475 10154. United Drapery Ord--408. Wolworth (F. W. Ord.-18.

Marella neaus Bowmaker Ord158 1. Brit, Commonweal Biji. Ord-30s 734.

Canndina Pecific Ord--449. City of London Real Prop-12x 141. Cunard Steamship Ord-1

Forasint Lane & Taber-121 450. Furness Withy Ord-309 1444. Hongkong China Gas-234.

Hudson Bay Co.-£1-7/18. Indo-China Det. Ord-20s Dd. Land Securities Ord-35 45.

.. Steam Nav. Def.27 3d. Mines Anglo American Corp. BA-1208 30 Brit. South Africa Co. -30 3. Brilisi Tin Investment-10:41. Comolktaled Zine Ord--Bix, De Beers Del-11

London Tin Corp-19s 3. Mousi Isamber skh.

Petaling Tin-109 30.

Rand Selection=-37% (0. Rhodesian Anglo-Amer. Ord--53». Rhodesian Selection Truman 9. Rokena Curp-435.

Rio Tinto Learer)-34. Roan Antelope Copper-8% 11%d. Union Corporation-19 Tad. Welkom Gold Mining-129 W. West Rand Investment Trust-43- Id.

Western Holding-120s 104. Winkelhaak Göld Minesmiðs 790. Southern Malayan Tin-34%.

Rubber & Texa

Anglo indonraları Plant-49 KI. Ceylon Tea Ord—19s Bd. Imperial Tea Ord-154 Bd. Kuala Lumpur-Kepong-35 *). Lambak Rubber-475 .

Reuter.

for Australian

company

New York, Sept. 13. A Philadelphia bank today granted "precedent making" U.S.$1 million loan to a private Austra lion company.

The credit extended by tho Provident Tradesmen's Bank

and Trust Company to the International Leading Corpora-

tion, Ltd., of Sydney and Mel- bourne was announced here as the first of its kind in Aus- trakan-American Anancial his-

tory.

Australian trace commis- sioner in the U.S. Mr Henry C. the att- made Menzies, whe nouncement, said the loan was

"a new approach to the supply of capital for Australian deve- topment."

Booming economy

Mr William P. Curey of Carey International,

which acted as the U.S. agent for the Australlan company, said the loan will "precedent making open the door for. Additional supply of U.S. capital to Aus- tralia,"

He

that "untold predicted million of dollars" will be in- vested in the bogimlag Austra- lian economy.

Mr Erwin Weber, Vice Preri- dent in charge of the lending bank's foreign department, said the loan is a signideant begin- ning of what we hope will be

continuing relationship."— UPI.

Cotton workers claim rejected

Manchester, Sept. 13. Cotton mill owners yesterday rejected a 10 per cent wage increase claim for 178,000 worker of tho industry.

In turning down the union demand, the employers said they over were gravely concerned the

In deterioration trading conditions and shorten-

recent

Continuing rise in U.S.ing order books which have

economy predicted

New York, Sept. 13.

Ashoe. Feletion - 3. A continuing upturn in the

Brit, Electronic Ind-10s 10$. Brit. Ins. Callender Ord--65% $4, Elec. & Mus. Callender Ord- Del.

Elec, & Mus, Industries-35 ná. English Electric Grd-20s 90. General Electric Ord-2TIK Philips Lamp

Rediffusion A Works-D-15/10,

Industrials

nia.

Assoc. Portland Cement-73 $150. Boardman Marden Org-4# #d. Borax folding)-10% Tiad. Decca Records draw

Dunlop Rubber

Finans Ort- u.

14.

Gilman (Holdings) Ordd 45. Insertational Computers-034 64. London Brick Ord-~ d. Turner & Newall Ordes 47jel, Unilever Drd-1424. Wigglow Tenpe Örd—54s 5.

Chemicals

Boots Pure Drug Ord-20# 7120. Imperial Chemical Ord-86 14.

Cinemas & Television Asoc. Brut. Pictures-438 41ad. Tank Organization Dr. Stull Theatren-Da (1,

Paper Downter Paper Ord-404 CA, De La Rue Ord-6 3d. Sploers Ord-423 30.

Tobacces British Amer. Tob, Orű-B4# 94. Carreras "D" Ord-4s 1011d. Gallalter Ord--400 Bel. Imperial Tobacco Ord--Gas 12.

Yesterday's Closing

U.S. economy through out 1962

been accentuated by the grow- ing volume of low-cant imports.

Living costs

The employers olio contend that the workers have received bigger pay increases in the past was predicted thun the rise in the cost of e- here yesterday by John D.. ng has justified.

The union is basing its claim Wilson, vice-president in charge of economic re- on the rise in the cost of liv- search for the Chase ing, the profits of the Industry,. Manhattan Bank.

the relation of cotton workers' earnings to those in compelllive trade and the need to attract more recruits for the industry.

sre to meet

Union officials

next move.-UPI.

The gross natical product, now running at an annual rate of about $525,000 million to $530,000 million may well op- later this week to decide their proach the $565,000-$570,000 million level by mid-1962, bar- ring any oriüs deterioration in | the dutinational situation, Mr Wilson told same 180 marketing | Executives from 24 electric and gas utilitics throughout the U.S.

*Increased U.S. Gov?nment expenditures will be a major

Agreed merchant rates

| factor inducing the considerable, Canadian $ Muximum Selling: expansion of our economy over 16; Minimum Buying 18 T.T}; the near turn," the New York | 18-5/10 D.D. banker sald—Chinu Mall Spi- West German Deutschemarks clal.

Maximum Selling (0-11/10,

COMMODITY PRICES

FOREIGN. EXCHANGE

NEW YORK Closing rates:

Curada Holland

Sweden

BINGAPORE

1

Closing prices all in Strails

cents

purts:

No. 1

Hept

per lb. 1.0.1.

Oct.

No. 7 Sept

2

No. 3 Sept.

No. 4 Sept.

Closing prices

LIVERPOOL

Closing prices al in

Malayon per ib.:

B0%-001% Ba16-27 B4-80$

70%-4011

pence

LONDON

all lo

PT-1/31

.1935

per ik?

No, 1 xpct

2014-25%

Betilement house term:

Skept. del.

2443-2524

2015-83

294.-25

Apr/June

Sept.

OM.

FALate crepe

thin Oct.

Wilck Oct.

285-28112

Oct.Der, 225 12/16-2.36 15/16 | Jan/Mar. 10.1033-10.101

LONDON Closing rates: New York

Amulerdam Arussel C'opereren Frankfurt Llation

Stockholm Milen Vienne Zurich

Business

was done in the tocat unoffici *xchange market 15 morning at the following rates US dollar (per $1) ............ Sterling notes (per £1).... Australian nuten (per Rly.. Japanrın yen (per 100) ..... 1.49 French new frane (per 1).. Indonesia ruptcḥ (per 100) .. Frakan Brussels (per 100).

Parla

16.07 17.57

1.12

7.70

1,00

Argentine pero, (per 100)

A.25

Korean hwan (për 1,000ý .......

Balian Jrs (per 1,000)

1,000

Chilure Ju (por 1)

031

Talwan yuan (per foi

1,30

That balių (per 100)

21,00

firma kyai (per 101

8.10

Pakistan rupes (per 10).....

Macau Pataca (per 1)

*KOLE DISTAINYJD;

UNIVERSAL PHARMACEUTICAL LABORATORIES, LID,

80s, 22123

WHEN HUY

TECHNICAL

ANALYSIS

On Stock Trends

Research Dept. PERENNIAL TRADING CORP. $18-818 Edinburgh House

Norwegian krone fuer 100 Philippines peso (per 11 .... Bingapore straitę (per swim trano tom 13 ore Netherlinan gunnar (at 'ij Weet Grryman 13-Mark (per 3) Cuban peso (park) an

1.44

Nov.

1.80

Jos.

MEM

1,54 May

Dept.

1.41 July

0.00

150.931-130 šių

19.2014 19.201

11224-IT34

39.0912-25.0911 13.8296-13.8254

General markein, c.lf. busta, porta:

AMSTERDAM

American Contract

pence

O: 24.30: Der: 24.00; Mar: 2525; May; 23.03; July: 26.50; Oct; 25.70; Dec 25.70.

Mixed Contract

Qel: 21.30; Dec; 24.15; Mar: 23.58; May; 25.35; July: 2030; Oct; 20.15; Dec: 20.10-UTL

METALS

Closing prices all in guilders Lead, por klingram, c.l.f. Sept.:

17.84-7#.67

No.

rubber

No. rubber

No. rubber

RUBBER

No. 1 crepe

NEW YORK

Rubber futures efosing prices,

all in cents per lb,

FLAK

Stangira

$1.30

29.60

29.10

19.00

2009

NEW YORK

251-2514

ゴム

Closing prices all in cents per

1b:

Sept.

10.10

10.10

$20 buyer

Late,

1.31 buyers

Hopt.

16.03

daa buyers

-UPI.

2.01 buyers Copper

Okt.

11.00

Bett.

31.17

LONDON

COTTON

NEW YORK

Closing prices all in conte Der 1b.:

Lipote $8.38 pom; Oct: 3149; Per: 2017? "Akz:"16.05.

Closing prices, all in sterling per long ton.

Tin spot

-möglis

Copper #pos Lead Apat

Smith

-unila

Zine Spot

-month

Buyers After

ខ្លួនទីដីវិន

F

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