1961-11-08 — Page 2

THE CHINA MAIL, WEDNESDAY, NOVEMBER 8, 1961.

LLOYD SAYS WAGE TV for drive-in banking

PAUSE WILL STAY

IN EFFECT

London, Nov. 7.

The Chancellor of the Exchequer Mr Selwyn Lloyd announced tonight that he intended to maintain Britain's woge pause at least through 1961.

He made this statement in the House of Commons during a debate on

the nation's financial position.

I do not think fra muun his

PANTON

Ice.

this year.

"When we het te faste

this year we staran dara

اين

the situation

means early next ye

:

+

小

'U.S. must think

in terms of freer trade'

Washington, Nov. 7. Mr Luther Hodges Secretary of Commerce, told a press conference today that the United States had to think in terms of freer trode.

We are facing a new sotaan hom Mr Hodges said Britam's application. 1 - bership in the Clams pati poses real problems tau

"Gebemlly Speaking proper safeguard

NETI

to think in terms of freer intel· ww won'! get crafanan business

Lowest

Mr Hodges moted that upon Was planning 1. downla

"I am not going to Commit fon any one on, thes Hadles of commpai setse."

Dust July Mi Lloyd anfro-

* 1206 Justemy Pro- gamune designed to clamp down A hot vansumption and call- 11h top GO more Increases

Lion's

ת

wat salaries and the n- on doctioris mervasend

Criticised

Win stare compromises entukmed has Ange paus

اور بالة

13 governmeet enjoyees art workers in the nationalised a dustries were concerned. singly advised private indu- try to follow his lead

This acbon was intierly cutes Cised 1. Fade to Cremixes A: 4710 20031 thes

ale

lumps i andastad warest tos

He told the House of Cum- If wondd be duectly nous bat ControlY 4

Government's

Inde matara, debligations.

It give such incentives. r' !,,!"uft S would Follow

...

Suudised credit fer exports would also op Calzary to the Bovernment. obligaldus. ir Het, in's mastur's were de- ing 1 that was

representations.

maller for

Tie govern-

men had reason to believe that in en done and

up

instance it was

being

was being taken

But there was room in the nation's machinery to provide credit. He and the President of the Bourd of Trade, Mr Frederick Erroll, were examin- ing whether there were oppor- tunities for further action. They also considering whether various arrangements for the met couid types of credit

require- ents AP and -Reuter other vast rund I Win Dora Br salt:

It war der get her planer of the Fuet that percena

winchir

Mr Liege insisted in ioight's dietante Ali the

NO!

Ly

j-

Derease higher

ral of increase • ELL we shall piler OUT-

in SUN-

melken out ad or markets and

sta Murully the balance <f pay-

It is a matter of common and di beneve it 18

stig growlly accepteri

Labour Irader Mr Hugh' Gaitskell, bitterly criticised the government's economic palleins. He said the Prime

welt

"Drive-in" services in Americs have long sinon ceased to be a novelty in that land of the automobile, and without leaving the seat of your car you can watch a movie, eat bit supper, and deliver or collect your laundry. Drive-in banking, however, seemed to be a of a problem, for it offered the bank robber the chance to drive up to the cashier's win- dow, Bourish a gun, make a "withdrawal" of all the ready_cash—and then speedy get- away, all without leaving his car. But the First National Bank of Waukesha, Wisconsin, have overcome this by installing, for the benefit of their customers who come in cars, an The teller (cashier) and customer are han- "autobanker", using closed elrcult television,

dreds of feet apart, but can see each other on a TV screen, talk, and exchange money and documents, via a pneumatic tube.-Express Photo.

Chicago London market HONGKONG

grain market

Chicago, Nov. 7.

Minister, Mr. Macmillan him- Groin tutures jumped sharp-

self had fostered a complacent

in "materialistic outlook rocant

the British public

gross national product in the next ten

years which Tremendous purchase 1. FRX materials and increased fatius abroad by Japan.

The US, he sand. had had ti lowest rate

in gross of Kin national proce! of any nation

11 The world in the past

The US years.

mus ja STONE that rate it it was going to be e

world

declared. power.

Reuter

Rejects idea

Having walled the people into copyplacency you cannot gul-

aetion."

M: into

vazise heta

Gaitskeli said

M: Lyd regreted

the a

1 ANA ported diet fakul Buth,

ly in late dealings today offer ruling mostly steady throughout the morning on the Chicago Board of Trude.

Trading Was moderately many traders neve, although

were

adament because Elvedion Day holiday

the

in stipe

of rustig en trentice for B-, secunly and commodity mar-

Terug ex kes

held

until Prices

steady around noon. Steady absorption of light offerings led to short In wheat and soy- ervering

sprend to other Hans, which grains.

Men who guide the destinies of the world wear Rolex watches

YOU KNOW thair names as you know your own. You know their faces. from a thousand newspaper photographs, their life stories from ■ hundred magazine articles. You have seen them and heard their voices on newerecia and on your television screen. Their actions and deci- alors influence the pattern of our lives.

We cannot mention their names, or show pictures of them. It would not be fitting to do so, for they include royalty, the heads of states, great service commanders. But we invite you to look carefully at the next pictures that you see of them, at their wrists as well as their faces and clothes. You will notice that in almost every case they wear ■ wrist-watch. That watch will most likely have been made by Rolex of Geneva...."

We are proud of the service given by Rolex watches to so many. wminent men. It is scarcely necessary to point out that these watches new, in the highest degree, accurate and dependable.

ROLEX

elta buy only from Authorised Retallers.

Land

Demand

in wheat, news that India bought 5,600,000 bushels of hard white wheat touched off Commis- demand for futures. sion houses led the constructive There was little commer- side. ezal interest noted.

Stronger

and meal prices buying boosted soy- exporter bean: futures. Commission and interests bought, commercial

while a leading processor sold

January.

Offers were light.

Exporters also reported that Egypt purchased 1,865,000

bushels of wheat, Japan 120,000 bushels of scybeans and Britain

And

corn.

Holland fair parcels

of

Wheat closing range up % to 14 cent.

Sev beans closing range up 1% to 1% cent.-UPI.

Exchange rates

Business

in was done unofficial exchange market morning at the following rates:- US dollars (per $1) ..

irregular in light trading

London, Nov. 7.

Stocks presented a mixed bag today when price

movements were mainly measured in pennies in small-scale trading.

to

of

set industrials failed

handful trend although a blue chips moved higher

Government securities took a up to spread of losses ranging

Imperial and British - American

both eked Tobacco out tiny go ins with British Motor Corp, which topped the 14 shilling tark.

Shell was the standout in Im- proved oils,

Mining stocks were in the doldrums although some golds weakness. varly Stradiness marked teas and rubbers.--UPI.

shook

off

Closing prices

Brush Government Securities 2. Consolidated £39-7/20. 3. Conversion-£2.

$

3

Funding 1950/90~~£89-7/16.

Savings 1455/65-90-15/16

3. Savings 1980/10-280- 3. Sayings 1965/7172.

pyn. War Loun- £821⁄2-

Overseas Bands

5 German Dawes:-4 5. Japanese. Asserted-4 152

Bank & Insurance Barclays Ord-12 Chartered Bank-Sts M Guardian Assurance-49s. Hongkong Bank - £17 Landel Trust-be Bd. 1oyds Bank-85%.

National & Grindley31 90 Prudential Assur "A"-£25-3/16. Royal Bank of Canado-- £261;. Royal Insurance Ord.-4465 70.

British Petroleum-41 Burmen Oll-335.

36.

Shell Transport Ord-115s 60. Royal Dutch-£ 12-1/16

Ultramar Company- 265 72d.

Steels Fagineering Babcock & Wilcox Ord-21 50. Colvilles Ord-51s d

Dorman, Long-239 ed.

Guest, Keen Ord+886 3d.

Harland & Wolff Ord-159 120.

Summers & Sons Ord-448 1d.

Vickers Ord-20s 6d.

Electric

Assoc. Eler. Industries 30s 10150.

The

Incal

11

5.373

Sterling nutes per £1

15.77

Australian notes (per £1

19 SC

Japanese yen (per 10U) .....

1.49

Cambodia riel (per 1001

9.30

French new frane (per 1

1.13

Tube Investments--645 9d.

Brazilian cruzeiro (per 100,

1.80

United Stoei-415 dd,

Argentine peso (per 100,

620

Korean hwan (per 1000 i

4.00

lalan ra (per 1000

8.99

Chinese JMP (per 1 Taiwan yuen (per 100) Thai baht (per 100

0.44

1.3

24.70

Burmese kyat (per 10) Pakistan rupee (per 10) Macat pataca (për 11 Norwegian krone (per 10) Philippine peso (per 1) Singapore Straits (per 1) Swiss franc (per 1). Netherlande guilders (per 1) West German D-Mark (per 1) Cuban peso (per 1

5.47

7.20

7.00

132

1.200

1.31

Assoc. Portland Cement-49 460. Dunlop Rubber Ord-20s 10d.

1.53

Fisons Ord-358 34.

180

0.50

AMERICAN

STOCKS & COMMUNITIES

WHEN SE

WHEN

BUY

TECHNICAL

-ANALYSIS

On Stock Trands

Research DiDÉ

PERENNIAL „TRADING (CORP.

Brit. Electronic ind.-0% 70. Brit. Ins. Callender Ord---659 Dc. Elec. & Mus. industries--301.

English Electric Ad.

General Electric

0.997 Philips Lamp Works-l1-1/32.

Rediffusion Ord.-40s 10d.

Industrials

Gilman (Holdings) Ord.-55 1lad.

International Computers16. London Brick Ord--85s 9d. Turner & Newall Ord-579 105. Unilever Ord-41e 41d. Wiggins Teayo Ord-489 34.

-Chemical Imperial Chemical Ord-Gls 20. Monsanto Chemicals Ord-ifs 3.

Cinemas & Television, Assoc. Brit. Pictures 47 9d. Rank Organisation Ord---203 Od. Stoll Theatres-08 70.

l'aper Bowater Paper Ord-dén '90. De La Rue "Ord-401. Spicers Ord-40%.

*TUDECODS

British-Amet, Tob. Ord-89a 1011⁄2d. Galleher Orá Jóa. ed. Imperial Tobago Ord-464. d.

Motore

British Motor Ord11 11dă. Hawker Siddeley Ord-31 44 Hawker Siddeley Ord-33 44. Bolls-Royce, Ord-491.

-Westland-Aircraft-178-34:--

Texas, 24

Bradford Dyer-129 0d.

·Calleo Printers' Ori-1228 90.00 Coats (J) Paton & Baldwina-dis. Courtaulds Ord-905 7500

21

Fihe Spinnere Ortising Bd: Lancashire, Cotion Ord-47E DE. -*-*-*Drownrich ge Alig

Distillers Co. Ordea, 54.

: Guinness (Arthur) Ord=52%...Bð.

Ind Coope Ord=148 1110.4

Great Universal Org-1834 01.

Houtr

T

Leibles Extract 21s. Lyons A Drd-695 710 Marks & Spencer "A 10d.

STOCK EXCHANGE

hy

Our Own Correspondent

Business done on the Hong- Exchange this Stock

kong

morning amounted to approxi- mately $4 million. Noon quota- tions and the morning's transpac- tions:

Suffragette movement leader found dead

Hastings, Nov. 7. Mary Richardson, one of the leaders of the British- suffragette movement that fought for women's votes, was found dead in a gas- filled room at hør Häst- ings home today. She was 81.

for

She

best known was slashing Velasquez's masterpiece, The Rokeby Venus, with an axe

In the National Gallery in 1914.

She once explained:

"1 tried to destroy the picture of the most beautiful woman in mythological history because

the Government was destroying Mrs Pankhurst "the most beautiful character in modern history.

Mrs Emmeline Pankhurst was

a promthent and indefatigable worker for women's suffrage in Britain,

Police believed Mrs Richard-

Old house in the way

Exeter, Nov. 7. What is believed to be the oldest timber-framed. house in the world will be moved from its site In Frez-street here to a sile 50 yards away because it is in the way of a new byža pass.

3t

The scheme to move this Tudor period house so that

will be preserved be- cause of its histerical and architectural interest will cost £12,000.-China Mail Special,

Havana police

arrest more

revolutionaries

Havana, Nov. 7.

son may have collapsed while Security police today an

lighting the gas stove on har bed-sitting-room or may have forgotten to set a match to the gas.--AP.

Middle East oil output

increases

London, Nov. 7. Middle East oil production in the first nine months of this year rose by 8.6 per

of

the orrest aounced more leaders of the popular revolutionary movement (MRP) and claimed the organisation was "practically extinct." A lengthy police stotemcut the counter- gave details revolutionary group's Patical

End naredi organisation

10 diplomats from, Latin Americaá countries who it said had at- tended a meeting of July '13 at a farm outside Havana frequent-

of

ed by MRP leaders.

Shelter

The statement continued: "The Italian Embassy ses served groups. cent over the same period counter-revolutionary

offering shelter to certain les- of 1960, the Petroleum ders at the residence and per- diplomatic Information Bureau said mitting use of the

to carry correspondence and in London today.

funds for various organisations." Oll produced amounted to It also reiterated that MRP. 210,347,000 metric tons com: had

close links with the pared with 193,705,000 metric Venezuelan Embassy and gave tons in the nine months year.

last

ba

names of

members involved

in Cuba. and the United States--Reuter.

All leading countries achieved with MRF higher outputs.

Persia

Kuwait yielded 61,687,000

tons; Saudi

Arabis 50,814,000

43,686,000

and Iraq 36,260,000 tons.

Ord--102s

Shares

11K Bank

Buyer Sellers

Sales

tuna; Persia

308

P108

70 368

100 305

20

280

Frie & Lyle Ord-45s 1d. faited Drapery Ord-40s 9d. Woolworth FW. Ord.-50% 0

Miscellaneous

Bowmaker Ort-148_311⁄2d. Brit. Commonweal Ship. Ord-29%. Canadian Pacific Ord-13-13/16. Channel Tunnel-28 3d.

City of London Real Prop.-77 9d. Cunard Steamship Ord-13s 10d. Forestal Land & Timber-10s 7. Furness Withy Ord-328 6d. Hongkong & China Glas-239 Hudson Bay Co-4-7/18. Indo-China Def. Ord-178 d. Land Securities Ord-289 0. P. & O. Steam Nav. Det.-388

Mies

American Corp. SA-136%

Lombard Allied Lw.

42

9,80 10 9,20 2000 2.70

5000 93%

1000

205

250 350 200 354

12.80 12 90 14000

12,90

3000 ( 12.90

500 13

200 123 2600 @ 124

71 2125 10

600704

31 3006 30%

5000423

MẸ & Inv Wharf

FE

20.00

Wheelock

Ex. Div

[

! HK Dock

124 125

Anglo

i

3d

1

Brit South Africa Co.-50%. British Tin Investment-178 30.

Taikoo

Dock 7011⁄2

De Beers Def-1495.

Ch Prov

38

London Tis, Corp-15 d.

HK & S.

Mount Isa-isod

Hotel

421

300 43

Petaling Tin-96 3d.

Prealdent Brand-508.

500 4215

Hund Selection-425 30.

Rhodesian Anglo-Amer. Ord-54s

HK LEN

72%

73 1589 13

d.

1.

Rhodesion

Selection

Trust

hukana Corp.-42 6d.

700 # 30% Local P&P 30% 30%

2.326 nk Realty

21 33000 2

П000 44 2.225

!

5000 a 2

10000 2.225

500 30

1800 30

73 1000 (2 78

SGD OF 76

370 or 7415

300 a 7412 200 M 75

Km Tinto Bearer!-40s 71. Ron Antelope Copper.. 20. Tronul Mines-30s 3d.

Linion Corporation-63% 10. Welkom Gold Mining-145. West Rand Investment

Trust-40s

Western Holdings-177s 11. Southern Malayan Tin-355

Rubber & Teus

Anglo Indonesian Plant-45 4. Ceylon Tea Ord-14s 6d. Insperts Tea Ord-186 34. Kuala Lumpur-Kepong-2 8d. Lambak Rubber-dos fored,

---Reuter

Foreign steel competition

for U.S.

New York, Nov. 7.

Lons;

Persia had the largest pro-

Ex-Chief Luthuli

portionate increase of any gets permission

of

the major Middle East pro-

ducers.

The

Kuwait-Saudi

Arabis to go to Oslo

neutral zone produced another 6,772,000 tons Including off- shore output and Qatar 6,278,-

000 tons.

The remaining oil came from Egypt, Bahrain,

Israel-Reuter.

Turkey

and

Anglo-Japanese

commerce talks

London, Nov. 7. 2007 Anglo-Japanese negotiations for a long-term treaty of

4000 2,225

38% 39% HX TTDM

KM BUR 7415

Yaunati

Ch. Light

HK Blectric

Telephone

Old)

(New) (Rights)

Foreign steel companies are Gilman

expected to intensify their Jardines drive for more United States marken next your, the trade publication G.. Purchasing Week sold to

day.

118 120

.800 Gr 744 100119 300 110 30 30 13220 d 39 3000 39

600

39

39 39 1400 30 1500 ( 30

444 4514 800 à 45 50 45 42

17.40 172

1740

500.

1045

FK Gas

21.20 21.80

4.30 4.325

24.00 26

2000 25.20

2300

Cement 836

04

500035

400

1000

374 371 1500 31

1500374

1000 & 13.40

2000 € 12.20

Rubber

5.10 Watson

4216 Sincere U. Waterboat 20.10

$.20

40

-á 9

500 da 500 1.80

鸭

rein-

City Hold 37

under the domestic level.

A check of leading steel im-Dairy

the porters,

magazine sald, showed competition with Textile domestic steel is mainly in Nanyang European plate, rod and bar- size angles which reportedly are priced 10 per cent below Ameri- can prices,

1000 89.10

70373

Belgian and Japanese forcing bars are selling at $25 Humphreys 26.10.2020 1000

⠀ Modern mills

Star Ferry

Asta Nev

1800 2050 400 229 53.10 600 #2

2000 & 3.014 2009- és 3.00 - ∙13 3000:

e noted that The magazine modern stainless steel mills were at Inv. 15:00. completed in Japon last summer

and have already made some Macro eo. progress”. In the US. market.

artinese steel exporters claim that their products are ecurrently priced three-to-five per cont below American levels, the jjublication said.

UNIT TRUSTS

Fires Hongkong Fund, on divi --- Noks rose they expect this $1.16 (buyer), $128, (caller)

differential to wlden to 10 per Second Hongkong Fund, ex. con chielly beans of rising div: B0 cents (buyer) 87: cente U.B. prices as, business im2 (teller). Special offer seller

Durban, Nov, 7.,

Ex-Chief Albert Luthuli teor

ceived official notice ta

day that the Government i has granted him permis- sion to go to: Oslo next month

to collect his Nobel Peace Prize award.

Luthuli, who has been the leader of the African National Congress until I was outlawed under the anti-Communian law - last year, said:

"I do not wish to disclose do- and naviga- tails of the official letter until points tion will resume here next I have clarifed certain

commerce

Monday, an authoritative involving the conditions of the source said today. The negotiations have

Government's permission to, travel to Norway."

been

taking place at intervals dur-

He is still restricted to his

the 'Sup home district under

ing the past five years. The pression of Communism Acl.-- main stumbling block has been AP. Britain's

refusal

so far

1.n

to grant Japan most favoured na- tion treatment, as it does other members of the GATT (General Agreement on Tariffs and Trade).

Members

of the Japanese delegation arrived by air today. -Reuter.

Agreed merchant

Unwanted voter

Albany, Nov

A skunk beat voters to the voting machine today in a firehouse in suburban Colonle. It took members of a vod teer fire company. more than three hours to Bush out the skunk, which was discover Belgian Francs maximum sell under the machine late last trg 867.

night AP

rates

Yesterday's Closing

COMMODITY PRICES B

METALS

LONDON

Estate, grep A

thin Nov.

Closing

per kilogram, c.lt..

Closing prices, all in sterling.No.

per long ton.

Tin pot

-month Copper spot samouth Lead synt

3-month

Zine spot

1-ninth

RUBBER

LONDON daing prices all in pence per

iba pan No. 1 spot “Bertienient-holme „tezza

NO..

JAN.

rubber

No. 2, rubbBI

NO ruthar

No.1 crepe

FOREIGN FACHANGL

TONDOS