1961-10-04 — Page 2

Page Z

New York

declines

New York, Oct. 3.

Stocks moved irregularly lower in quiet trading today, featuring some fairly wide price swings among the blue chips. With production cutback at Ford because of a Workers' strike, 120,000-man United Auto steel and motor shares were mixed-up frac tions to off as much as a point in some in- stances.

THE CHINA MAIL, WEDNESDAY, OCTOBER 4, 1961.

market

market WALL STREET Gilt-edged gain Australian

Yaslarday's Closing

COMMODITY PRICES

FOREIGN LAGHANGE

NEW YORK Closing rates; England offlersi

J-Lay

Amtrice Tobacco two 9211

Australa New Zealand

and Du Pont dipped around two," point, Johns Manville also declineti palmed roughly

th ather stalling 1964 propia improved tobacco list. way Galea tav e 1946,

ננו

Tay's volume wa: 2,080,000

Alea was als down around, shares.

av-caps but pokat

Sr back, which NOW-

la to make and sell it eclate TV sets,

Jes. Get

14

Britain's dollar

reserves

rise

London, Oct. 3. Britain's gold and dollar re- acrves rose by £24 million in September to stand at £1,269 million at the end of the month, the Trea- sury said today.

drawing fires the International

ora

of 1,250 shares tutal trud.d, 477 were higher and 547 lower.

American Exchang volume was 1,540,000 shares.

Ponds volur muted $4,320,000.

Closing prices

A5:56 Pwr, & Papre

Algoma Steel Cop

Nater & Purg Power

All Gas & Eleme

Ai Mbele Yury An Natural Gas

Am. Sugar Bet.. Anton Korp

-Loma-Flutn

Ink!

Ank of Nova Sela

Per Life Savers

Brushed France,

1 Aviation Pop

Towing Apte

British Ant

hech Calumibia Ele British Columbia Pwr

CANA EK at Cramon

Cumpled Sup to

Le J. 1. Cu

Cat. Tractor

Band Alkali

Does SeaRemus

Others mphanged.

LONDON

Closing rates:

New York ... Materal

Austertian

Kruispin

Frankfu Cabin

10 Parts ...

39

45%

DR

Stockholm

Milan ...

Viruma

Zaunch

Apr/Juku Jufy/S-pl.

2014-2546

General markets, ... baris, ports:

Cut. Nov.

"Estatu crept

זור 1

2440-241

thick Oet... 281 AMSTERDAM

Closing prices all in guilders per ilogram, l.f. Oct:

No. 1 rubber No. ber 2.8155 No. a rubber 231J Nu. telepe

2.0045!

281-1/}6+2.8]-0/10

2.1-2.99

10.15-10.153;

140.05-140.10 10.37-19.37

1.20-140,20 20.02-20.024

13 841-19.6875 14.5424-14.55 174692-17471) 72.0-72.71 12.30-12.30%

2.20 buyers

2.2 Lubura 3.25 huvers 2.69 buyers

-UPI

METALS

NEW YORK

Closing prices at in cents per 10.2

Lead bet.

Dec

Zine

Dol Dec.

Cport Del.

--T

LONDON

9.06

1.01

10.50

10.03

30.05

Closing prices, all in sterling per long lon:

RUBBER

NEW YORK

Rubber futures etosing prices,

Lead poi

Bemoatt

Zine apot

Jumata

SINGAPORE

Closing prices all in

o.b.

Buyer Seller

*Ti Kool

DE

146

B-month

017

Copper spot

242374

224

223

224

7346 7345

202. ---UPI.

COTTON

all in cents per th

nut

HEX Standuri

Nov.

150

29.23

20.15

Ja

Mar

2011.50

Aluy

29.50

CU

July

**4.400

AL

Sept

20.40

milanesa (20

2424

Coring Glass Warks

151

Strulta

Voodidated Paper

407

The total included

million alance

of

the £18 1:1tan'a

Consumers Gar

20

cents per

Malayan

LIVERPOOL

Cpl fet

3,

Ports:

10

No. 1 Oet

05-05;

Closing

No. 1 Nov.

Baugi Aterafl

per ib:

No. 2 Det

Dow themi

American Contract

1 Nu

Family Finance Corp.

No Or

#22-1 3-04

Oct.

24.10

saiti.

Ferro Corp.

Sped tubber sintaled

#9434-115%

Dec.

31,50

Firestone Tyre & Rubber

Baker crop

7531-7042

Mar.

F: Naty Bank 1 Nat GP (Government) Gue Tel & Elec

F01

No. pale crepe

93-01

May

Bank

1047

July

31

LONDON

āત્ત

21,70

Dec.

24.70

Gouttich it. P. Co.

Mixed- Contract

Great Northern Raliway

Closing prices all in pener per

Dot,

had

lyden Newport Corp

2011,

Dec.

tis

in Wolker

No spal **** (Settlement huure lean-

MS-25!

May

Imperial Off

Judy

Dec.

Jan./Mas

251-251%

Monetary Fund which was res ceiver in the month.

Authoritative

however, that during September aubsintial

reduction was made in the amoural outstanding

central

to the banks which, under

the Basle agreement of last March,

stockpiling sterling been

help stem the speculative attack take Mining Co.

on the poitrack.

re-

nitin Tabtices

Inland Steel C...

International Paper

The "true" gain in Br ives cantant be seen eause-Minute Cu the

in his omnis volver operation were ant disclosed,

other special There were DO fromsaelions during the month the foreign exchange bul on market sterling has recently been in demand.

Kiraberly Clark

Lity Pulip

Lorfilard P

Lowenstein & Bra Mellunnell Aireitt

restin

Mola The National Dairy Prevet.

Noranda Mures 144. Ohn Mathwo Owen-Tinc % Glass Pet Salt for

Commercial demand in Morris

There was

Pay Esowen

Gen. Fice.

also strong com- antries

mercial demand for the penind partly due to the delayed pur-Pe

Putlan

Raytheon chase of sterling by the trading: Hoyal Bank of Croaz

Rheem Mfg

world witch, before the massive Seara Rocfuck & C drawing from the IMF In August, Shell of ca...

Goverument measures Saint leg. Papier

| Schenley Ine,

Prd the

in July to porreet the economy, Seel Taper

had been sdly of holding pounds through fears

de valuntion.

Meanwhile

improvement

over

South Puerto Rico Sunr

authern Co. (The)

Southern Pacific Co.

Southern iniiway (Com)

possible

Southern Natural Gas

recent

Sperry and

Steep Rock

Tide Water (1

months there has beeh nieady

Britain's In balance due to declining imports and a slight

foreign trade

improvement la exporis and this is also having offret on the reserves—UPI.

some

Stone & Webster

Time Inc

Traders Finance

Twentieth Century Fox Fila

| Vähed Fruit

United Gas Corp.

US Line Co.

--uri,

P.O

ORIENT

LINES

S.S.

CHITRAL

SAILING FOR UNITED KINGDOM via SINGAPORE,

PENANG, ADEN, SUEZ, PORT SAID and GIBRALTAR

CHATTER

glamour

Now York, Oct. 3. Notwithstanding,odily tax-

loss solling in issues, a rise in represen- tative averages to fresh pooks by the end of the year would como ** ho surprise, Hamblower and Weoks says.

Clark, Dodge and Co. states that a good breakout on higher ground for stocks should prove contagious to

the general list which is now In D much stronger Hear term technical prosition.

* *

The Wiesenberger Investment Feport remains of the opulen

tliki the long-term trends of business and the stock market that declines In are up and prices induced by apprehensions aver international disturbatives should be regarded as buyi opportunities.

*

in London

market

London, Oct. 3.

Government bonds were the main attraction in steadier but quiet markets today and broad demand for medium and short dated, gilt- edged caused the bonds to advance up to 1⁄2 point.

HONGKONG

STOCK EXCHANGE

Our Own Correspondenti

Some of the undated, issuer lost their stre and soinolimés edged £1/16th higher.

Industrials were mixud and Plused irregularly lower of though some leading niensged small rises heluding Imperial

Unilever, Chemical,

Bowater and Glaxo,

wheat sale to

China

Melbourne, Oct. 3.

Sir John Teasdale, Chairman

of the Austrailan Wheat Board, today announced the sale of a furthge 250,000 tons of wheat to Communlit China. This brings total sales this year to two million tons.

Teasdale sald 080 million tons were sold for the cash and the remainder on the basis of 10 per cent cosh, 40 per cent within six months, and the balance within 12 months. The total amount involved was some A £55 million.

sales: In

He said Australia's August-September -included 200,000 tons Strea

to Italy, 145,000 ton to Germany, 125.000 toga to Britain, 40,000 tons to Japan, 33.000 tons to Hongkong, 30,000 tons to New Zealand, 22.000 tons to Norway, Midille East

equnities bought 22,000

Lors, Rhodesia 10,000 tons and Egypt 11,000 tons.

Engineering, shipping, moters, building and tobacco stocks were generally easier. and breweries moved narrowly and steels were undecided.

Britain's Improved gold and In September Business done on the Hung-deilur reserves

this came too late to make any on- Stock Exchange kong 20

morning amounted to approxi-act on the market. mately $1.920,000. Noon quota- There was little movement In tions and the morning's trátisac. dollar steel but Chryster los! tions:

Abrahuum and Co. says coutiers market policy must be invoked u the atmosphere clears "even though we believe

00 inter- this pause to be mediate interruption in The long-term upward trend,"

bares Buyers Sellora

338 EDS Bank

Bales

43343

340

40533 2009 330

40 240

50343

saya

to

1.on. Bet, UK & Inv.

wheelock

282

+4204

Gerven of Wall Street new commitments in the stark market should be limited

equities with sure-fire earnings prospects and low price-worn- ings ratios.

Thomsun and McKinnon says the market in the period ahead at lanes, but may be trying conaniments in such groups as trods pertarm

prices all In penee investment companies,

and stilltes should well.

-UP!

Mr Alan C. Poole of Hemp- hill, Noyes and Co. says that he feels eventually the car

parts companies should receive some attention as a new car year un- folds, especially as the investor is now thinking more along the lines of good value rather than glamour.-UPI.

This cement maker is

one of Britain's buoyant bosses

By Alexander Thomson

London, Oct. 3.

After the IC results, who are the buoyant bosses of Britain as the credit squeeze tightens its grip on the stock market and industry?

Mr John Reiss, 52-year-old head of the £105 million Associated Port-

land Cement manufacturers is surely one of them. Talk to him about his "blue | brought in fast January, we are circle" group and you find there not building a third one which are no blues in its boardroom In will be in production by next Toth-street, SW1.

August.

Business is bigger than ever. Expansion plans are being speeded up. In fact it kilns cannot turn out cement fast εποτιμές.

Jchn Reiss lold ine: "Our home deliveries in the Arst 37 weeks of this year were 9.7 per eent up on 1080.

"I hope we shall nish 1061 with a 10 per cent increase which in terms of cement will be our largest ever."

"The whole trend is towards substitution of cement based products for more traditional tuliding materials", Beiss de- clared,

(New)

HK & S.

Bosci

1255

11 11.500 moon 11.0

20091129

6000 114. cor 1.4

20001

11.20 11.49 3050 1130

2200 or $3.10

101011.20

100 115

13:20

2000 w

ilk Dock

14

[15

300 ve 118

12036 114

200

Talkou

6112

67

Ch. Prov.

28.40 28.70

392

100

HK Land

01 0214

180381; 1000 1.

Loret P. & P.

HK ically.

29.05

то

1029.80

2.15

2,20

50702.20

35

37

203 37

1000 351

J.M.B.

Ex. Div..

20 101%

203 the 78

200 W 71

Yaunnutt

Ex. Div.

100

113

3422

Ch. Light

3

300 29.83

10000 2.175

450 7015

112

500 4 35

1500

34

200

2000 or 3422

Electric Telephone

35 35%

100 3512

35

100%

40

800 18 403%

(Rights).

14.30 24.05

IK Gas... 19.70 19.00

2000

1900 4012

100 4013 300

40

300 + 40%

$14.70

10030

343 v

500 19.00 200 g 10 1000

* 15000 + 4

3.975

21.20

G.1. Coment 67 5:1

Textiln

Nanyang

500 23

500 23.19

60 473 B00 23.10 050 21 1750 23.10

100

Dairy Farm 3414

200 35

11.30

2

4.35

53

5.03

0.80

33

200 @ 35

23.0

30%

A tuber. Hubber T.

City Hotel

Humphreys Lone, Craw Aria Nav

(Rights)

Emporium

130

B00 3.10

30 1000 30

7126926 1000 # 95c

287 11.30

Exchange rates

"At Westbury, Wiltshire, we are getting on with

new This month AP Cement's 300,800-ton plant to be ready by interim dividend is due. A year Business was dona

in the focal the tail-end of next year.

exchange ngo 1 was four per cent. Since unofficial

market thin then there has been a one-for- onlar (per, 1

morning at the following rate Stering notes (per £11, ....... preliminary work has started two share bonus,

Australien notes Prof

"And at Dunbar in Scotland,

on a 440,000-ton plant. It should I arked John İteirs what his be working by the spring of policy would be in light of the

Charicellor's request for

1063.*

All told, these projects wildlyklend pause.

a

"That's one of the questions next we shall discuss, at our

cost between £12 milion and

£15 million.

They will add nearly one million tons a year at 0.272,000 tons. to AP Cement's 1000 production board meating"; he ald.

In ordinary skeinstances rlan would be clearly justified. In addition "at least one and There he considered

should be મ token possibly two other schemes

at increa:c

at least. -London home are at the discussion

Express Service. stago", Reiss told me.

And profits? Reiss sat thought fully in his high-backed red leather chair as

how bed to answer that ques-

tion.

EMBARKATION: The ship will be berthed at No. 1 Pier, Kowloon wharf, entrance at No. 1 Gate, Salisbury Road. Passengers should embark between 2 pm, and 4 p.m. on Wednesday 4th October, 1961. distinct fimprovement," he said

SAILS:

BAGGAGE:

HEALTH:

"This year they are showing n

choosing his words with up- parent care.

Profits rose

I should explain here that AP

The ship is expected to sail at 5 p.m.

on Wednesday, 4th October, 1961. Should be sent to the Hong Kong Kowloon Whart Co.'s godown (en- Cements directors labelled last trance at No. 2 Gate, Canton Road), year's earnings on home sales as between 8 n.m. and 5 pm. on Taesday, "disappointing". 3rd October, 1961.

ALL PASSENGERS MUST BE INO- QULATED AGAINST CHOLERA BEFORE EMBARKATION.

SUNJECT TO CHANGE

Agenta:

MACKINNON, MACKENZIE & CO.

OF H.K. LTD.,

P. & O. Bldg., H.K.

Tel. 05211/9.

Expanding

Overseas output of the "blue circle" group in being expanded too. A big new works has Ari recently been completed

Australia and Malaya. Mexico.

Others are in hand fri

Japanesɑ yen iper

Coinbadte riel (per 100) French new franc (per Brazilan cruzeiro (per 100) Argentine preo (per 100) Korea hawn (per

000 Italian lira (per 1,000) Chinese JMP (per 33 Taiwan yuen (per 10) Thai baht (per 100) Bunnese kyat (per 101 Pakistan rupes (per 1 Macao pataca (per 1) Norwegien krone (per 100) Philippine pero (par 1) Bingepomp Straits (per 1) swim trune (per 1) Netherlands guilder (per 3) West German D-Mark (per Cuban peso (per 1) ...

1620

Tiso

1.31

0.50

1.12)

1.60

1.44

27.03

0.904

7.03

130 1-19

York Agreed merchant

New York sugar

rates

0.80

two, US Steel reee . Standard OB (N. J.) were better.

Modtat demand gave gold mincs a harder app.arane?, but Cratern

tina selling pueled

Continental and downwards, Lendon huying hilped cOSPITA to improve.

Leading is found favour and managed gaina up to one still- Sayur

Tas held ready but rubb-гa were dull,-UPI.

Closing prices

Sirilah Government Securtiles 2. Connoidated-J. 3. Conversion

3. Savings 1058/08 288-77/32.

16. Saving

Saving $10

3. War Loun-£52.18/18.

Оествеска

German (Day 2

Banks & Insurance Barclays Ord-73 3. Charterett Bunk-49 4. Guardian Assurance--403. Hongkong Bank-£18. Landes Trux1124.

Lloyels Bank-Gie Dit Lonine Banki: Ord.-17. National & Grindley-as Prudential Azzur. "A-21-13/18. Hoyal Bank of Conado-201 Royal Insurance Ord-41s 101⁄2ð. British Petroleum-3.

Burmah

Shell. Tra: 35

Ord–114, đức

Hoyal Dutch-1-8/15.

Ultramar Company 205 450.

Reels Engineering 3d.

Babcock & Wilcox Calvilles

Dorman, ..

00

Cuest. Koen Ord- 41%α. Harland & Wolf Ord-17 d. Sicol Co. of Wales-3 ed, Summer & Sons Ord-45s Oct. Tube investments-09 10:50, United

Id.

Vickers Ord-27 6d.

i

Electric Assoc. Eles industries-26s Assoc, Television "A" Ord-30a 2d. Braingham Sound-37s Dd. Brit. Electronic init,-10s Ud. Elec, & Mus. Industries-30a. English Electric Ordis. General Electric Ord-25.06. Philips Lamp Works-16-33z Rediffusion Urd-din 1994,

Industrials

Assoc. Portland Cement-40% 4140. Boardinan Marden Ord- Jd. Borax Holding)-15s 41, Decca Records Ord-001 74, Dunlop Rubber Ord-26.

Fleuns Ord-38,

Gliman (Holdings) Ord- Dd.. Turner & Newali Ord-17x 7. Unilever Ord-130s

Wiggins, Tempe Ord 359 3d.

Chemicals

Imperial Chemical Ord-s 10. Monzonte Chemienia Ord-158.

Cinema & Television Angor, Brit. Pictures47 Gd. Bank Organization Ord-253 Stoll Theatres ad.

Paper

Bowater Paper Ord-s &u. De La Rue Ord 30 d. Reed (Albert E) Ord-43s 6d, Spicers Ord-414 1015.

Tobaccos Briah-Amer Tob. Ords. Carreras Ord-3 $194. Imperial Tatineeo Ord-d61 3.

Motors British Molor, Ord--13 34. Hawker Siddeley Ord-27 10%. Inguar Cars Urd-117 d. Rolls-Royce

3d. Westland Aircraft-17s 1d.

Textiles Bradford Dyern-12

d.

Callco Printers Ord-11 98. Canta (JP) Paton & Baldwin-40% Courtaulda Ord-30= 755d.

Fine Upinners Ord-41.0.

Lancashire Collon

Breweries

45$2.

Disuliers Co. Ord 35 Guinness Arthur Ordie d Ind Coope Ord12 76.

Store

Great Universal Ord--62.

"A" Ord the

Great Univerant 74.

House of Fraser

YO (3) "" ard-o..

Mark 101. United

Woolworth (WW)

Miscelianecur

Brit, Commonweal

300 Jid,

24354.

ship.

Ord

Patio Ord-$1291. Candon Ben Prais Eits

Cunard Bleanship. Ozg-141 434d Forestal Land & Timber-2007. Turners Withy Ord-34 d. Honakon & Chinn 232 Indo-Clink Def. Ord-216. Land Becuri Nav. Det-30 0,

Ord-294 81, P, 0.

U.S. Duliars: Makiislam Sefing 17. Minimum Buying 17% T 17-13/10 O.D.; 17-29/32 90 34.

Sail John Keisa: "The cement They were held back, it seems, industry all over the world is by particularly heavy repairs expanding, very fast,

As --tho that hnd to be enrried out at biggest producer. In the world World No 8 sugar, fatures days; 18-1/32 60 days, 1015 00

Kimc of the plants.

group's

30. UK We must keep pace

Even so trading profits nt home and overseas rogu from £10.004,000 to £10,010,000. Ten years ago they were £0,700,000.

with this

selemea were to mature In the

ders.

Licence granted

New York, Ott. 3. today closed two lower to Swiss France. Maxlinum Heil- Hrowth."

one point higher withing 75-7/10. With so much going on will

sales of one contract, AP Cement have to raise, more Dottie No.7, sugar closed capital? It is 30 years since it unctuinged on point lower 1st uued new shares for cash. with sales of 70 contracts.

Futures trading was consider- nazov to develop a "Even.nl qur. proiected ed 100

Cleveland, Oct. 3. Johrt nekt, fire to four Fonts

pocil, fature. Deloitte

National Acma Company said Heiss outlined them with relish is very dubhird whether we sine røde Interests appeared today it has granted a licence in and rapidity,

trilo awaiting. Milaubishi, Shipbuilding And would tines 16,” Reis fürééant, to bỏ murking "AL home", be mild "we have

raw market developements, Engebring Coltitiany to minkb Why is cement, so hoyaal? Just finished rebuilding a plant

Chile #ril will be in the 114 fitultiple spindle automatio at Plymouth to give us an extra buikling ustry in one reson, premably on

Continued activity

the market for 105,500 tons of raws, mátliino 'toole in Japan; The a barter basis dent is subject to approval by 140,000 tons of vulput

more to 11 dh' with Cube, trato sources under it Japalingo Couldon, Staffordshire, But there is

Government. second kile

-UPI. was tha!.

I switched our talk to current expansion plans,

"AL

where

*

the

|

UPI.

atines

Anglo American Corp. 6A-1218

Brit. South Africa Co- ad.

Inyastmeal=1##. solidated Line, Ord.

De Teora Def-1212 94.

Tin Corp-104 04.

Mount, fan-Band,

Pota ng Tip-104. Nald Kaloriion=3ta qui. Bhachart

hodesian Helser. Ozd~654.

Trust-ba id.

thokalia Corp/45 30, Jo Tinto ficarer)-304 3ú, tuan Alitalope Copper-piad. Union Corporationandia EAN Welkom Gold Mining-12a 21. West Eland Irivestmallt Trust-12 Western Holding

•Winkelhank Gold is i southern Hellopa

ગમન

flaubers & Tan Angin inrionasión" Planteds ad. Csion Tea Ord--22N likperia) Freej Ord++37).

Lambsk Rubbar 74 nabiar.

Australia's total cuminiiment to all markets, including Com- tunist China in the last two months excreded 200,000 tonk, ar around 34 million bushels, UPL

World

rubber

market

New York, Oct. 3. Rex rubber future today closed 15 to 20 points higher with sales of 24 contracts,

Standard contract closed un- changed to 20 points higher with sales of two contracts.

Higher terminal basis reflect- ed the Singapore improvement, and news of the impending dr zival of another Russian steamer to load rubber there next week, Dealers also were encouraged

by signs of a returning factory interest, after # prolongad absence,

that indication

but

AK-

Mattoned out again when the

Workers Auto

Union atruck against the Ford Company.

In the shipment market, offerings out of Indonesla pluded some one sheets at 20% cents

at 314 and one crepe rents, both straleht October shipment. cast and freight.

Locally, spot No. 1 was quoted 30 cents and current mony 20 cats pound, nominal.

In Loien, the rubber market was hesitant with spot one- sixteenth up at 25-1/8. No. 1 rss spot 25 24.

In Anglerdam, rubber market was dull today-UPI.

Chicago

grain

market

Chicago, Oct. 3.

Grain futuros rallied sharply fram an early setback to near their close at or highs for the day today on the Chicago Board of Trade,

What fell markedly at mid renewed heavy, morning under Iquidation and hedge Prices later rallied as pressure subsided,

Brokers sald

which

Bolér

selling,

tho added another cent, to

2-cont yesterday's

plunge, stemmed from discouragemept over the export trade. Dealers expected a heavy export business this week but today's market.

was limited - to a 1,500,000-bushé! purchase by Tunisia.

Corn prices fell to new lows for the season bofore recover- Ing. Spot pers also declined, | with No. 2 yellow. selling,

cent bolow the December future. Spreaders, were active. Egypt bought 1,320,000 bushels, Light country offerings and reports of disappoinung, cróp yields sparked buying in soy beans and their products. Let wook's export Inspections totalled 133,000 bushels against 1,999,000,000 a year ago—UPI,

UNIT TRUSTS

Tiral Hongkong Fund, b dividend,$1.00 (buyer) $1.10 (antier).

Becond Hongkong Fund: 67 bints (buyer). 93 cents. (rollas),