1961-10-10 — Page 2

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TU SUAVELOTION

P.O

ORIENT

LINES

S.S. ORONSAY

SAILING FROM HONG KONG 11th OCTOBER FOR

JAPAN, HONOLULU, VANCOUVER, SAN

FRANCISCO & LONG BEACH

EMBARKATION: The ship will be berthed at No. 5 Pier, Kowloon Wharf, entrance at No. 6 Gate, Navy Street, off Canton Road. Passengers should embark between 2| p.m. and 3 p.m. on Wednesday, 11th October, 1961.

SAILS:

BAGGAGE:

The ship is expected to sail at 4 p.m. on Wednesdny, 11th October, 1961.

THE CHINA MAIL,

New York stocks decline

New York, Oct. 9.

TUESDAY, OCTOBER 10, 1961.

The New York Stock Market closed irregu-

larly lower today. Following are the price

quotations:

World

rubber market

New York, Oct. 9. Rox rubber futures today closed three to 10 points lower with sales of soven contracts,

Closing prices

Aldea Ing. Acy Allied Chemicals Allis Chalmers American Aine American Metal American Smelung American Tel & To

American Teb.

Anaconda Capper

Atlas Cona, Mining Baillmore & Ohio Bethlehem Steel Cuna. Brewert Canadian Prolde R. Chrysler_Motora Coca Col

Commercial Credit Cursolidated Edison

Crane Co.

Cuban Amer, Sugar Dupont de Nemourn Eastern Air Line

Eszirmon Kodak Ford Motor General Electric

Fonts

futures Gel Molers

Standard rubber closed unchanged to 10 pobits lower with no sales reported.

Small terminal dealings must ly involved uxchanges of rex January-November contracts t 50 points difference.

Gelly Oil

Guir oil

Goodyear Tyre

Est arvestar

International Nickel

Int'l Business Machines

In Tel & Tel

Kenncent! Copper Litton intel.

Jockherd Alrealt Loews Incentrat Co. Lone Star Minnesota Ming

Yesterday's Cloung

COMMODITY PRICES

FOREIGN EXCHANGE

NEW YORK

Closing, rutes: England winelal

50-day's

L po-day's

Australia New Zealand flolland

Sweden

Switzerlan

LONDON

Closing rates;

New York

Montreal

Copenhagen

21

Anxierdan

HEA

Brummels

3036

0115

1191

1001

Oslo

402

Frankfurt

Luton

Paris

Stockholmi

Milan

Zurich:

VICIU

4135

સ

נד

COTTON

NEW YORK

Big progress made at

sugar talks

London, Oct. 9.

Closing prices all in cents per "Very considerable progress" has been made at

LIVERPOOL

1lb.:

2.0165

Дрог

3 2015

Oct.

17020

25

BOKS

May

2774

July

.1930

2313

Dec.

Már.

2.81-7/10-3.01-0/10

1.BOX-230

10.15-10.151

lb.:

145.0715-340.12

American Contract

19.371-19551%

11244-112415

Oet.

24.60

Dec.

2435

30.18-80.20

Mar

25.00

20.017-20.0215

13.334-15.03

14BY

July

14337-14.5315

Oct.

Dec.

Mixed Contract

24.45

24.00

6.30

21.08

23.04

-UNI

17402-1747 72.07-72.70 12.1776-12.17%

RUBBER

NEW YORK

Rubber futures closing prices,

LONDON

29.25

The

the International Sugar Conference now in its fourth week at Geneva but fundamental decisions have yet to be made, sugar experts here said today.

Czarnikow brokerage accept aubstantial quantities house sold there is plainly great year by year if she could not

prospects Closing prices all in pehce per goodwill and understanding of sec

of absorbing individual problems "But see them." sign of strength is necessary if

Czarnikows noted · the státe! confidence in the effectives of

ment by Cuba's President the agreement is to be re- Osvaldo Dorticos that Socialist astalilähed."

countries had agreed to take at But, they said, whatever long-least 4.08 million tons, a year fem solutions may be rentňïd until 1905 and added this It is difficult to see how any im-"shows the ever-incrassing In- mediate Improvement in the portance of these countries In market can be made while the the sugar world."

METALS

NEW YORK

present

surplus very heavy

But if Cuba is to produce 6.2 xists. Estimated total stocks at million tone o year and with the beginning of this year were { domestic consumption

at about nt le "unprecedented gure" 350,000 tons then the blond

of 2.08 million metrle tons,

Importance

zaid

11

was

apparenty, hopes to export a tonnage, higher than that envis- aged for this year," they sold. The brokers said "despite ho

The brokers difficult to estimate how much arnounced, long-term arrange of the sugar shipped by Caba ments, Cuba will have to rely

eastern Europe,

in on very sizeable experts to the and

world market, or a controlled particular to the Soviet Union, production, if it is to keep level.

Lo

has been disposed of In one Closing prices all in cents per way or another and how much But it seems otil is stocked. hardly likely that Cuba's new will be willing to customer's

9.7%

10.05

10.03

29.60

79.08

004

TOP1:

all in cents per lb.:

JUEX Standerd

Nov.

20.47

JAI.

28.00

28.10

Mar

20.63

May

20.15

ADST

July

21.40

ACH

Sept.

28.33

Ib.:

B1

Closing prices all in pence

Lead

Dec.

per lb.:

242

No. 1 1 spat

AVEN

Selllement house ferm:

22494-243%

Zinc

Nov.

301

Dec.

Oct./Dec.

24-247 2474-2416 #424-25

Copper Oct.

Dec.

1187

Jan./Mur.

24-2-25

Apr./June

July/Sept.

23-251

Pan American Airways Paramemt Petron

Oct.

249)-2411

Tim

101

Nov.

2435-244

Spot

Estate crepe thin Oet.

27

J-month

301

Copper

Spot

Apa

-J-montli

平

per kilogram, e.l.f. Oct.

Load

Spot

REG

No. 1 rubber

225 Buyers

-month

0421

No. 2 rubber

2.25 buyers

No rubber

2,20 buyers

No. 1 crepe

c Epot J-mohtli

724 7131

121

-UPI.

Brokers reported shipment offerings extremely light, and inetry Interest in the delivered market practically non-existent. Reported shipment offerings cut of Indonesia included some

cent 254 one sheets at October-November cost freight. Singapore reportedly Pacille Gas & Ecc effered pure smoked blankets at 25% conta and No. 2 smoked biankets at 24 cents a pound, cost and freight.

Missions Development Montgomery Ward National Cash Beg. "A" National Centrol and New York

Oil Elqvators

Locally, spot No. 1 Rss was quoted 30 cenis and current month 20% cents a

und, both nominal.

stargli late Glase Radio Corporation Republie Br Reynolds

Reynolds Tobacco Sinclair O

Secony Mobil Oil Standard Brands

was dull with spot quoted at standard 3) of Cal. 24-13/16. No loss epot 244 Standard Oil of Ind. 24%.

In London, the rubber marketSquare D

In Amsterdam, rubber market very quiet today-UPI.

Passengers are requested to send all U.S. cotton

baggage for hold and Baggage į Room and as much Cabin Baggage as possible to the Hongkong & Kowloon Wahrf Co.'s godown (en- trance at No. 2 Gate, Canton Road), between 8 n.m. and 5 p.m. on Tuesday, 10th October, 1961. Passengers should only take light hand baggage that they can carry themselves for entering at No. 6 Gate on embarka- tion.

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

SUBJECT TO CHANGE

Agents:

MACKINNON, MACKENZIE & CO.

OF HONG KONG LTD.

P. & 0. Building, H.K.

FIRST HONG KONG

FUND

Telephone: 35211/9.

output

Washington, Oct. 9. The Agricultural Department today estimated 14,394,- 000 botes of cotton will | be produced this year, an increase of 72,000 bales from last month's fore- cast.

Today's estimate, based on October 1 condition. compares with production Jasi year of 14,272,000 bales and 10-year average production of 13,555,000 bales. The estimate a monti ngo was 14,262,000 bales.

The Crop Reporting Board estimated cotton yields this year would average 440

pounds of Int per

acre compared with last year's 440 pounds and a 10- year average of 302 pounds- UPI.

SPECIAL OFFER OF

300,000

UNITS AT $1.14 PER UNIT PAYABLE IN FULL ON APPLICATION

Standard Oil of N.J Sterling Drug Co. Stokely-Van Camp.

Studebaker-Packard Corp. Swift & Co.

Текая Со

Union Carbide

Union Pacing Railway

United Aircrafi

U.S. Gyptim

U.S. Rubber

US, Smelling

US. Steel.... Warner Bros. {Westinghouse Electric

Woolworth K, W1)

Chicago grain

market

Chicago, Oct. 9. Rumours of a change in the government's corn selling policy acted to push feed grains sharply higher to- day on the Chicago Boord of Trade.

Other grains followed the advance. but the market ran into heavy profit-taking near the close.

Wheat was helped by nows that 4,880,000 bushels of white and hard wheat was sold to India. Commission houses sold on the advance,

The upturn in feed grins elso supported soybeans, where lighter than expected hedge aples were another factor. Oils held steady, but meal was also Arm.

Exporters sald Holland and West Germany bought a total

| of 400,000 bushels of corn, Japan look 190,000 bushels of soybeans.

-UPI.

LISTS CLOSE THURSDAY, 12TH OCTOBER, 1961 UK TEXTILE

All shares included in the Trust Fund are shares quoted on the Hong Kong Stock Exchange. Applications must be made in multiples of 100 units. subject to a minimum holding of 500 units in the first instance.

APPLICATION FORM

Payment must be made in full with this appiication,

To: Hong Kong Unit Funds Limited

7th Floor, Alexandra House,

HONG KONG.

I/We hereby apply for........................undle in the First Hong Kong Fund at the advertised price of $1.14 per unit, in accordance with the conditions contained in the offer and subject to the terms of the Trust Dead dated 12th July, 1960.

I/We enclose chequestionay brder/cash for $.............being payment in full for the number of units upplied for. I/We understand that the money will be returned to majus in fuli 11 no Valts are allotjad.

We declare that tția amfarò over 21 years of age.

SURNAME(S) (in English........

(Please stato Mr., Mrs. Dr Miss)..

OTHER NAME(S) IN FULL.

བན་་ག་་་་སཾ་སཱ།བཏ་1124%**

ADDRESS.........

SIGNATURE(3)

Telephone No....

(BLOCK LETTERS)

(In the case of joint applications all persona must sign. Corporations should complete under the hand of an authorised officer whose gerignation should be steind)

SALES RISE

London, Oct. 9. Sales in August by Britain's wholesala taxtiles firms averaged nine per cont higher than In the com- parable month oné year.

agn.

Wool, ribbons and haber- dashery sales led the advance and were 22 ber, cant up in the month. Over

24-

General markets, dif. baziz, ports:

thick Nov.... AMSTERDAM

Closing prices all in guilders

2.00 Buyers -UPL

LONDON

Closing prices, all in sterling per long ton:

Buyers Sellers

$57

227 22745

日

London stocks

move lower

London, Oct. 9.

Second thoughts on the real motive for Britain's bank rate cut and the growing belief that the home-front squeeze will not see much let-up until 1962 turned équities lower today while gilt-edged met fresh demand.

Speculative buying that mark-

суп-

ed last Thursday's" rise parated and profit-taking sent o host of blue chips into reverse taking recently buoyant downward with them.

Motors

British, Motor Dra-134 2140, Hawker Siddeley Ord-zik 38. Jaguar Cara Ord—–1209 1150. Rolls-Royce Ord-421 BILA. Welland Aigeratt-17a Úc).

Textilri

Bradford, Dyers”—138 $0, Calica Printers' Ordm12s t Cónts (JP) Paton & Baldwi

wered.

atorus

early

olls but

small

Coppers surrendered small gains while golds neglected and tins unchanged.

Easiness showed in through lack of interest Royal Dutch managed a rise.

Teas had scattered bright spots} but rubbers drifted downward. -UPI.

Closing prices

British Government Securities 2. Corolldated-£30, Na Conversion=452-1/19. 3. Savings 1055/80—207-10/22- 3%, Bavinga 1900/70-277-13/10. 3. Saying# 1005/15—CD???.

War Loon-£534, Üvatarra Hand"

B%. Corang (Dawes - FAIL. B. Japanese, Assented-lỗi. "Banks & Insurance Barclays Ord-783 Bd. Bli, Merchants Ineur-bir 3d. Chartered Bank-17 3d. Guardian Assurance-30 0. Hongkong Bank - £18. Landel Trusts 93. Lloyds Bank is 3d, Lombard Banking Ord-1367d. Prudential Artur. "AR-K 22.0/10. Royal Bank of Canada-£ 20%. Royal Insurance Ord-43 116d.

Fizillah, Petroleum-448. farmih" Oll-300 30. Shell Transport Ord117 ad, Royal. Dutch-£11-15/10. Ultramar Company-310 7154.

steels Engineering Babcock & Wilcox, Ord-231. Colvilles Ord--638 4160. Darmau, Long 29. Guett, Keen Ord-886 Harianit & Walk Ord-17 20. Betal Box-BI 24. Steel Co. of Wolemą ad. Stewarts & Loyds Drd-38 Da. Summors & None Ord-188 4500. Tube Invenimentem:57s éči, United Steel-43 ct. Vickers Ord-27k 3d,

od,

Kirctric

Anot. Elec. Industries Аное Television

Birmingham Bound-376.

Brit. Electronic Ind-118 4544. Brit. J. Callender Drim-tón Ad. Elec. Mus, Industries-364 84.

od.

Philips Lamp Works101. itediffusion Ord=396 155d."

Industrial

Fasilectrio Ord the Bet. General Electric the frat eight months of the year towel texille sales were running, 15 per cent above those in 1000 for period.

าไธ

Good Increases wero scored in sales of women's knitted outer- wedr, blouses, skirts and under- wear. "Above average" were náles of children's clothing nird gloves,

Sales of men's clothing Merc household textiles fell below those of last August Textiles for floor coverings and furtii- turo increased below the avòr- age rate,

Stocks In August were higher than one year agy in all de- partments, but the coritikka boom in hand kniiting wODL here helped put wool stucka up 21 DEF CONEJUPI.

Astor, Portland Cement-478 1}{d. Boardman Marden Ord norax (olting)-15 7 Decca ecards Ord-59% 98. Dunlop Rubber Ord- Plans Circ 3d.

(Holdings) Ord-44 04,

Coral Computers—914.

Turner & Newall Ord-50s 1016.

Winter On-1951 Jl.

Trape Oril-sc.

Chanticals

Imperial Chemtent Ord-Br 101get. Monsanto Chemicals Urd--15 84. Cinema Television Age. Brit. Picturon-419_20. Ranic Organisation Ord-3. Boll Theatres-b4dd.

Paper Hopter Piper Gedeise zu, De Ord-009, 94, Herd, (Albert 1) Urd-4&a, Hipicals Ordageup

10330. Pritish-Amer Toð. Úrgum að. Carrered Ording Ht. allner or d Imperial Robeco Orista

Courtaulds bru

Stores

Phie Balnners, Ord–238. Jis1, Lancashire Cotton Ord-t£m du. Brewerie Distillers Co. Ord 35% 1026.. Guinnesca (Arthur) Ord-62 3d. Ind Coope Ord-de 11⁄2d, Great Universal Ord-536 00. Great Universal “A” Urú—19:

House of Fraser Ord-378 Od. kyona (3) “A” Ord—6is 1150.* Marks & Spencer "A" Ord-102a. Tate & Lyle Ord-450. United Drapary Ord-47. Woolworth (5.9.) Ord.-82a 9d. Miscelianova

Bowmaker Ord—159_38. Brit, Commonweal Ship. Ord.--30 11.

Canadian Pacino, Ord $44. City of London Iteal-Prop.—75a ed. Cunard Binamihin Ordulés 108. Forestal Land & Timber-10s. Furness Withy Ord 154. Hongkong & China Gos=-238, Hudson Bay Co-gl/E. Indo-China Del. Ord-20s. Land Accuriller Ord-20# 411⁄2d. P. & O. Steam-Nav. Def.37% vs. Далее

Angio American Corp. SA-=12!@

Ayer Hitam Tin Dredging-42e id,

Bilt, Boulli Ateica Co-19% 30. British, Th, Investment--108. Consolidated Zine Ord_074. De Beers Def-130% 7%d. Free Sinta. Geduld-031 9ḍ. London Tin Corp.-149 vd, Petaling Tin-10. Shodmelan Anglo-Amer.

Ord-540

"Anodosian_Belection Trust-ta ad.

hokona Corp-45€ 10.

Rio Tinto Lerrer)=-368 1014d. Roan Antelope Copper-is 3d. Selection Trust Ord 83 4ikil,

Union Colts 901-48

WetRed. West

Mining and investment Trusi-2

Western Holdings—1154 4550. Winkstar Gold MinesTOR Fig. Bouthern Balayan Tin-3.

Rubber & Toke

Anglo Indonesian Plant, 10. Caylón, Tea, Ori-224, Imperial Ord-30s dd, Kuala Lumpur Kepong—d» 6%d. Lembak Rubber-d7a öd.

Reuter,

Barter programme

Washington, Det. D. The Agriculture Department han, diaetored it was announcing | a revised US, barter programme soon. It said Mr Orvile Free- man, Secretary, of Agriculture, had received' recommendations that the barter programme be expanded and its operating pró- cedures bo impuned..

The recommendations, the Department aöld, were minta in a report drawn up by A. grólip representiör UB #grleifure, industry and, trade. The group met here last June for the Art time to diecure the barter pidh and then, drøftet ils report con- taining the recommandatiden China Mail Special.

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

this

Business done on the Hong- kong Stock Exchange morning amounted to approxi- mately $930,000. Noon quotations and the morning's transactions;

Salts Shares Dayers Kettera IK Bank.. 334 338

Lan. Reg. 200 Lombard Ins. invester

#

HK. & FE

Invest Wharf Co.. 330 Wheelcek (Old)

(New)

*

HK Dock.

40 A 338

50 338

125 41

within the agreement limit."

The Market Review also said that the allotment of non-quota allocations by the United States

has gone a long way towards abrorbing surpluses In

the

a

| Western Hemisphere which In some cases had become rather unwielding. On the other hand. It must be mentioned that there has also been propensity by some producers to expand output to ensure they have adequate supplies to All this additional outlet."-- UPI

Indonesia criticised

by journal

A 9.10 1000 g 9.10 20.80

11.00 14.90 2000 11.70

11 11.03

Taikoo Dock

HK Hotel

113

305

IIK Land

Local

P&P

10.30

2000 11.70

2000 11,00 1000 11.30 5000 11.00

15300 11.80

1000 11.30

500 11.30

3000 * $1.40 500 g 11,30 1000 1115

1500 11.00

B250 & 1135

21000115

500

Hi nety 2.175 2.20 30000 @ 2.875 HIC Tra..

Youmatt Farey

X.D.

Ch, Light

Electfie.... Telephone

3010

00

80 07 00

108 110

50 110

60 110

3411

40 @ 30

150 #301

() ... 3014 309:

(Ris)... 1K Gas Güman

Jordiars

Cement.

24.10 1400

19 19.70

44

239

Dalry XD. 2014 Textile....

1136

200 € 3014

43310 40 4

A. Huber 6.55 4.00 2900 @ 1.35 R. Trust...

0.70 Ada Nav.

1200 1,85 Asia Nav. LRS)

•

2.925

New York, Oct. 9. Wall Strodt Journal editorial today criticised on Indonesian charge that World Bank President Eugene R. Black, violated, the bank's charter by Yo- fusing Indonesia a fogn because of "political con siderations."

The paper noted that the bank merely followed its long attending practice of refusing

the loan because Indonesia Bas not sellied Its foreign

* deblé, particularly by claims of

the Netherlands."

"When the politicians of pa 'nationalised

when the

u Indonesia reize the property of foreigners, and Pefuse to compentute them; that is a matter of

the Principle,"

úpparent

cditorlat Forcasmi.

Fuld

NEW STANDARD

"But when an advanced coun

try such As the Netherlands asks payment for what had bega "nationalized” ог When the world's bankers ask pynelli or qutstanding debts as a condi- tion of lending more. this 3 cross 'politica and a very bad' thing.

"In this era of the emerging 2.323 1.40 2250 o 1.375

peoples, it would teema new 2750 v 1.35 181 Inv. 121% 12,80 284 LA 12.40 | Standard of bphovlour så bierg- 300 1213 ing. And we suppose misuider- 0,00, 600 ( 9.70

standings, will continue to crop up so long 1 old-fashioned Ideas about property and ras-. ponsibility persist.UPI

Sincere Va

Dock

Shai Mine Bhai Land, Humphreys Поре Emporium

4

100

22123.10

Constructions 16.90 Vibro

12

Exchange rates

Bulness was done in the Joesi

exchange market

Unoment the following rate :--

VS dollar iper $1)..!! Sterling hates (per, £3) Australian notes

1001

Japanese yon, qper, Cambertin Fiel per 100) French nawe frann ber 11 Brazilian, cruzeiro (per, 100) Argentine peso (per 100j Korban hown (per 1,000) Italian Bra(per 1,000) Chinesa JMP (per" I)" Taiwan yuen per 10) Thal bolt (per 100) Burmese Kyal (poc

201 Pakistan Mipes (per 10) Macio pataca (per "Jo" Norwegian krone, (per, Philippine peso (për 1), ...... Bmgapore Straita (per kj Awiwa frang (peg 3) gen Netherlands, qvalideyn (per West Ferati - Mark (per Cubah pemo (pek 1) ****

Agreed merchant

rates

this

U.S. dollars, máximum selbig

New York

cotton market

New York, Oct.

A larger than expected Government crop estimato put cotton futures into-on irregular decline after b steady opening today. Final prices were off 10 to up five, points. The market opened up, five to on five paints, New. Orleans closed ort 10 to up 0 pointa,

The amela report Indichlidd'

01 on October

crop promite 14,344,000 bates, an increase of | 72,000 bales over, the previoua

roport HHa

compared with 14,272,000 bica harveničí ́ ́ läht Yedy.

Most traders had anticipated a docrease, compared with the previous report.

-

However, the beatist

from Ele 17-1/2, mutimum, buying, 17-3/4plications drawn

17-15/10 OD: 17-29/82 30 gher alongs Batire was, '98- days; 18-1/92 60 days; 1-1/8 99portedly diet by intrinse of dbyx, .

the reason, and jije, tisk of frost West derman dedichenerks, damage before the crop is Angler maximum selling 0011710.

|ly harvested--UPL