1961-11-14 — Page 2

THE CHINA MAIL, TUESDAY, NOVEMBER 14, 1961.

HK shares ease slightly in

WORLD SHAHE MARKE

INDUSTRIALS HEAVY SELLING

HIGHER MARKS

END

LONDON

London, Nov. 13. Despite some odvere company news industrials closed higher today to feature on irregularly higher stock morket.

Gilt-edged securities suffered from a swhich Into equities and most issues finished fractionally,

lower

The buying spurt in jodus- trials, which lifted the index Nbove the 300 mark it mid-

session, get help from a stock shortage which often brought staup eiseS.

and Electrical equipment

forged ahead. slectronic issues Textiles and stoics were also

higher but steel shares were quiet.

Gold stocks ended Brm Dollar stocks were regularly higher

Japanese bonds were nuxed. -UPI

Closing prices

British Government Securities

2. Consolidated- £ 39!

35% Conversion- & 52

3% Savings 1955/68- £ai

Savings 1960/70- - - £ 80%

3%, Bavings 1985/75-11-15/16

3%, War Laon-£521⁄2

Overseas Bonds

6% German (Dawes -AGS 5%, Japanese Assented-2152 Banks & Insurance

Barclays Ord-88

Chartered Bank-52s 01

Guardian Assurance-G46.

d

Hongkong Bank-£17. Landet Trust -51

Lloyds Bank 67 94

Lombard Banking Ord-l Prudential Assur

"A"--£26-3/14

Royal Bank of Canada- £27, Royal Insurance Ord.-4be 7d

British Petroleum-348 34

Burma): Oll-33o 3d xd.

Shell Transport Ord-116s 3d. Royal Dutch-12-3/32.

Ultramar Company-27 40

Steels Engineering

Babcock & Wilcox Ord-21 31 Dorman, Long 25 3d. Guest. Keen Ord-799. Harland & Wolff Ord-138 1d Steel Co. of Wales-335 6d.

Stewarts & Lloyds Ord-39 Bd. Summers & Sons Ord-468 101d. Tube Investments-678 30 xd. United Steel 43s. Vickers Ord-20s 3d. Electric Assoc. Elec. Industries 34% 30 Assoc. Television "A" Ord-32 Bc. Birmingham Sound 40% 80.

B Brit. Electronic ind. 10 101d. Brit. Ins. Callender Ord--50s flyd. Elec. & Mus. Industries-40s 3d English Electric Ord-31s 30. General Electric Ord-20s Phillips Lamp Works-10-29/32 Rediffusion Ord-4 Bd

Industriais

d.

Assoc. Portland Cement-538 456.

Boardman Marden Ord--3 Borax (Holdinga)—166 41yd Decca Records Ord-04s 3d Dunlop Rubber Ord-28 94

4164.

Fison Ord-338 415d xd. Gilman (Holdings) Ord-65 11⁄2α. International Computers-958 36. London Brick Ord÷89% Bd. Tumer & Newall Ord.- Uallever Ord-40% 90 xd,

Chemicals Imperial Chemical Ord-635 00 Monsanto Chemicals Ord-178 0d.

PHILIPS

4-TRACK TAPE

RECORDER

I

Cinemas & Television Assoc. Brit. Pictures 254 3d. Rank Organtsation Ord-318 30. Stol Theatres-76 7α.

Paper

Bowater Paper Ord-48% 3d. De La Rue Ordis xd, Spicers Ord-398 $0. Wiggins' Teape Ord-488 Od xn.

Tobaccos British-Amer, Tob. Ord-61a Od. Gallaher Ord--38s 10d. Imperial Tobacco Ord-685 6.

Motork

British Motor Dich

Đội 30 XÃ. Hawker Siddeley Ord-1s 9d. Jaguar Care Ord-128 3d. Rolls-Royce Ord-388 Westland Aircraft-17% 30.

Textiles

Bradford Byers'—128 741⁄2¢. Celica Printers' Ord-126 d. Coats (JP) Paton & Baldwine--12:

Courtaulds Ord-30s 3d xd Fine Sphmer Ord-22s. Lancashire Cotton Ord-4kg 41⁄2d-

Breweries

Distillers Co. Ord.--388 d. Guinnest (Arthur! Ord-539 60, Ind Coope Ord-148 41⁄2d.

Stores

Great Universal Ord-50% Great Universal "A" Ord-508 150. Lyons (3) "A" Ord-738 3d xd. Marks & Spencer "A" Ord--103

ઋતુ.

Tate & Lyle Ord-488 9d United Drapery Ord-47 301 Woolworth (FW. Ord.--539 d.

Miscellaneous

Bowmaker Ord-148 60.

Brit Commonweal Ship. Ord —28a 3052d.

Canadian Pacis Ord-443 Channel Tunnel-30 36

City of London Real Prop-795 ดูด พล.

10

Cunard Steakship Ord-13 41⁄2d Forestal Land & Timber-10s dyd Furness Withy Ord-31s 4. Hongkong & China Gas

238, Indo-China Def. Ord-17 d. Int. Nicket of Canadu 1443 Land Becurities Ord-32 1158. P. & Steam Nav. Det-298 3d.

Mines

Anglo American Corp. SA—138. Brit. South Africa Co.-50s.

British Tin Investment-188 d.

De Beers Def-1428 6d.

London Tin Corp.-16

Mount 16--04s 6d.

Petaling Tin-Da 64.

Ord-556

Rand Selection-42% 0

Rhodesian Anglo-Amer.

Rhodesian Selection Trust-Ba

Rhokana Corp.-42s.

Rio Tinto Bearer)-425 84.

Roan Antelope Copper-s d

NEW YORK

CLOSE

New York, Nov. 13.

The stock market closed with a limited gain today despite

some heavy last minute selling.

pro- Celanese Corp

with Chesapeake, and Ohio

Chrysler Comp

and Cit Financie

Blue chips figured minently in the advance Du Pont up around 6 Woolworth, General Foods, Procter and Gamble and Sears Roebuck abeard

point of anore.

a

*

Cluett Peabody Coca Cola

Colate Palmolive

Columbia Carbon

Columbia Pictures Cumbustion Engineering Commercial Credit Commonwealth Edison

Westinghouse softened around electricals. the in point Chrysler cased in a frac tionally mixed motor section.

irregular, Crane Co Steels

also were with Industry output showing little change last week,

Brisk trading

THE POUND STERLING IS THREATENED

morning WITH DISPLACEMENT

trading

Share prices eased slightly on the Hongkong Stock Exchange this morning possibly in sympathy with China Lights.

On Saturday the directors of China Light announced that because Government had not yet given them authority to increase their dividend (following the report and findings of the Electricity Commission of Inquiry), the final dividend would again be 60 cents making $1.10 for the year.

that on

I will be recalled Friday several thousand China Light shares changed hands at prices ranging from $40% to $411⁄2---cbviously speculation on the dividend which

everyone should

have known on the Hongkong frozen until Government agrees remains this morning

for the approximately to a new arrangement 47% $3,520,000. Noon quotations and Colony's electricity companies.

the morning's transactions:

Thus China Light continues to be one the lowest-yielding shares on the market. Last Friday it was showing 2.7 per cent,

Turnover

Stock Exchange amounted

to

HK & FE

Invest

Wheelock

The share was active this morning and fluctuated between $394-$40-$30%, after closing on Friday at $40.

Electrics also sce-sawed and moved up to begin with from $39% to $30 and then dropped to $39 at the close of the morn- ing session.

Consolidated Edison Continental Can Continental Oll Corning Glass

07

180

8435

Crown Zellerbach

Shares

Cuban American Sugar Daycu Corp

10

Buck

Buyers Sellers

362 366

14

Baler

400 388 120 + 388

Deere and Co.

554

Delaware and Hudson

172%

Diamond Alkai!

841%

2006 364

Trading was brick throughout the

to heavy

Diamond Nat Corp.

60

Lon

Reg.

284

392

288

Distillers-Seagams

45

Lombard

42

session, BUT- passing Friday's pace. The high speed lickers were late through

Dow Chemical

Douglas Aircraft

354

Allied

012

9.70

781

Dresser Ind...

25%

21.30

21.20

and

Duquesne Light

DuPont de Nemours

2491

21.30

32

21.30

Eastern Airlines

2412

Easter Kodak

111

El Paso Nat Gas

26%

Emerson Electric

84

28%

Dock

124

121

504

Talkoo

70%

11 1200 70%

3114

200 @ 70%

25

Provident

30%

303 31

4892

500 or 30%

12% Hotel

421

43 1000 42%

27% Land

7315

34

2819 @

on Friday.

104%

Local P. & P.

Realty

30 305

500 1000

ACTIVE

New

Tram

2.20 2.223 12006 30000 2.075 404 40%

2225 2.225

Other active

the first hcAIT most of sporadically near the clost.

Amerda

late was tire feature. The slock climbed 64 but a statement by its chairman denying a number of rumours which have recently surrounded Bloss the company, produced

of around a point in the stock by the bell. The rest of the oil section remained steady to firm.

Litten, Beckman,

Family Finance

Ferro Corp. Firehoord Paper Filtrol Corp. Firestone Tyre Ford Motor

General Dynamics General Electric General Foods

General Instruments General Motors

Gen Pub. Uls Gen Tel and Elec

Zenith,

Texas Gelty of

Fairchild

Glidden Co Goodrich (BF) Goodyear Tyre

Avnet, Standard Kollsman, Gea Tyre and Rubber Ling Temeovought, Instruments and Camera all managed good guins In the electronics.

Dow-Jones closing averages:

20 Industrial

20 Rally

15 Utilities

65 Stocks

40 Bonds

Air Reduction

Aldens Inc

Great Northern Hy Kern Country Lead Kimberly-Clark

KVP Paper

12843 Liggett and Myers

150.28 Link Brit

134.21 Lily Tulip

XD ... 12 12.80 7000 12.70 2000 ( 12 RD 500 12%

Electric

39 391

3000 40

30604014 1400 @ 40% 20077

80 @ 7615

100 76

20 @ 117 2000 4 3914 8003935 6000 3935

2000 39

300 G2 40 500 à 3944 B003932 47003914 1093094 2000 à 3915 1000 39$4

300 e 21.70

KM. Bus

76 76%

Yeurali Light

116

39%

119 301

240.84 Lutton Ind.

1632%

64.37

Lockheed Alrcraft

47

Comin. future prices index

148.84

Lone Star Cement

21%

Lerillard P.

Closing prices

Lowenstein M. and Sons

Mallory P. R.

May J

W

ACF Inds

5

62%

McDermoti

84

McDonnel Aircraft

841

McGraw H

Allied Chemicut

58%

Merch

300

Allied Mis

43%

MGM

Allis Chalmers

21

Minesota Mining

Telephone

Old...

4436

45

Alum Lid

27

Mission Corp

Alum Co of Amer

BO

Mission Development

Welkom Gold Mining-1426

Amer Airlines

20

Mesabi Trus

West

€34.

Driefontein Gold Mining-Amer Brake Shoe

94%

Monsanto Chemical

(New) Rts)

100 43

West Rand Investment Trust-48%

Amer Cyanamie

47% Montgomery Ward

Bd

Amer Elec-Pow

7414 Motorola

Clap

17.00 17,90

21.60 21.70

175

2500 11.60

Amer and Fore Pow

National Biscuit

100 @ 21.80

500 21.70

Amer Mach and Fiy

3924

National Cash Register

Amer Metal Climax

303

National Dairy

44

National Disti

37

National Lead

Gianan

842 Notional Steel

4.20 4273 1000 4.30

4000@4275

Amer Sugar

323%

Newyork Central

Jardines

Ainer Tel and Tel

128)

Norfold and Western

Amer Tobacco

North Amer Aviation

Cernent

85

50%

1000 1000

Ampex

22%

Northwest Airlines

Anaconda

60%

Oklahoma Nat Ge

72%

in Methiescon Cheen

*

49

Otis Elevator

74

Dairy

8%

Owen Illinois Class

1996

15%

Oxford Paper

38

Constructice 17.80

28% Pacific Gae

1043%

Watson

042

Pacific T and T

Sungala

3.80

3010599 @ 6075

Ponam Airway's

2 Textile

634

Farsanount Pictures

Nanyany

0.30 12.00

55

Parke Davi

Rub. Trust

City Hotel

Lane, Craw

Western Holdings-119% 40. Southern Malayan T-33 6d

Rubber & Teas

Anglo Indonesian Plant - 46 30 Ceylon Tea Ord-172 6d xd Imperigi Tea Ord-ks Sel Kila Lumpur Kepung--2x 8'4d. Lambak fubber-466 fold.

-Reuter,

SADNEY

Business done on the Sydney

Stock Exchange

10 morning was

-BANH N.S.W Commercial

on November

as follows:

Last

*32

Amer Nat Gas

Amer Photocopy Amer Smelting

Armeo Armour

Baldwin-Lima-Hamilton

Atlas Cons Mining

Baltimore and Ohio Bath Iron Works Beechnut Life Saver

Bendix Corp.... Beneficial Finance

Benguet Cons Beth Steel Blaw Knox Boeing Altplace

Bale Yield Borden

Sydney £21/ 2/6

40/

**

Penneslt Chem

41 Penny J. C.

334 Pepa-Cola

48% Plzer, Charles

Philco

Philip Morris

3714 Pinsbury Flour

344 Piney Bowes

Pittsburgh Plate

74

Borman Foods

48

5.0

Burroughs Corp

5.4

Colit Packing

Campbell Soup

BUILDING MATERIALS

Canadian Breweries

A.R.C. industrien

Canadian Pacifie

241

Proter and Gamble

Blue Metal Inds

72/6

Carrier Corp

40

Publicker ind

Brickworks Lu.

B6/

45

Case (JI) Co.

73%

Pullman

387

Fure Oil

Humes Ltd.

73/6

Ready Mixed Concrete

Wunderlich Ltd.

Kondos Cement

a3/-

"FINANCE

EL 3541

$590

Assoc Securities Aust. Guarantee LA.C. Holdings Mercantile Credits ENGINEERING Broken HL P McPhersons Ltd. Wm, Adista John Lysaght FOOD

Ja Stedman Ltd...

MarrickviB Hoida. Maur Boomhomson Roselia Frawing ISLAND TRADING Burma & Co. Steamatirading W. KOMSenter

David. Jonna”: Atd

Moran & Cało

Weltons Ltd.

BA/

32/0

42/6

31/3

3838838 3330 3338 2838 328 59808

1510 21.60

100 21.70

24.90 1300 E 24.90

37 0716 100 $716

500 @ 3714

Tag (Amal Bubber 5.00 5.20 2000 6.10

6.45 8.00 4000

Int Invest

63% 54

Amoy

JB 39

B

Radio Corp. (Com)

Radlo Corp. (Pref)

Raytheon

Republic Steel

Revlon

Rexail

Reynolds Metals

Reynolds Tobacco

Rheem Mg.

Vibro

67% Humbereys

BB Ster

Asla Nev

354 Metal Ind.

Macao Elec. Peak Tram

(Old)

Call Macg (Ord.)

115

Royal Dutch

Safeway Stores

St. Regis Paper

123%

8796

40%

0015859309

London, Nov. 13.

Britain's time-honoured but tricky currency is

threatened with possible displacement by a decimal coinage like dollars and cents.

The Government was report- ed actively considering a switch from the system of pounds,

shillings and pence-the system provides a separate field of study

which baffes foreigners and

for children in British schools.

A pound is worth $2.80. It is divided into 20 shillings, worth 14 cents each, which in turn are made up of 12 pennies.

Then there are coins like half-a-crown, worth 2/6 or 35 cents, and there are store price tags such as 11/0 which present much heartache for snap A conversion into dollars, francs, rubles or rupees.

Common Market

Quiet start

on Baltic Exchange

London, Nov. 13.

was made to quiet start the week's trading on the Baltic Exchange today, interest mainly centred

around the time charter

section where business in- voyage home

cluded

from the

靄

East Indies at

The British have long clung to this system with blithe dis- regard for outside opinion.

The

of a change signs

of heart follow the advent of the European Common Market.

The Russians

into

the maricet,

Chinese

the

the low rate of 13.

and

The British have now applied came to join the Common Market. And former taking a motor vessel fears have arisen that Britain's fur a voyage down from the involved currency system might Kiel canal to West Africa via

at a disadvantage against the Baltic at 22/ the tidy coinages of her six prospective partners.

re

be

The

A motor vessel was re-booked on time charter by the Chinese Sunday Telegraph

for nine/twelve months Irading ported that a government with delivery Chins at the end appointed committee has Bl of November

and redelivery ready recommended a change to world wide. The rate of 21/- the decimal system.

was agreed

The paper's political corres- pondent said the Cabinet now

In the East a cart, of lawful has the matter under study and generals was arranged Korea/ Trading was moderate with a will make a statement to the China turnover

to the Black Sea at of $3.52 million, as House of Commons against a total of $9.23 million Christmas.

before Jumpsum £28,000 basis one to

or frequently

Opposition

Any tinkering

with

one,

! River Plate

grain

shipper

booked a 7,000 tons cargo of

the grain to the Antwerp-Hamburg

traded shares were Banks which coinage is bound to meet stiff range at the unchanged" rate of eased from

trom $368 to $364, efter opposition

the nation's 72/6 for November/December closing at $368 on Friday.

numerous traditionalists.

FIXTURES Chungjm / Chúampd (. Shanghai or

loading.

Trams improved slightly active trading from $40 to 40% after closing at $39% on Friday.

on

is

But against their objections the example of South

Telephones dropped 60 cents from their opening peak $45% which was also Friday's

ready have instituted change to the decimal money

of

system.

Constantza,

closing price.

similar B

Africa and Australia who al-Korea) Dairen / Hangkang /

Whampoa to

vessel, 9,800 tons

DWCC., 475,000 bale, lawful

Earlier this year

November 16/30, change was urged by 151 mem-generals, Talkoo held steady at $70%,bers of the House of Commons, one, with £1,000 extra for each jumpaum £28,000, basis one to

cargo,

China Provident dropped 75 representing all parties. cents, while Lands dropped a

Latest to add its voice to de- additional loading port, no and

stowed, with 25 days purposes. dollar from Friday's close and mands for the change was the Necochea and Bakla Hotels 75 cents.

Blanca National Union of Manufac

Hamburg range, Antwerp turers which said it was desir Monte Udala (motor),17,000 Gas closed steady after slipable if trade with Europe was tons, 10 per cent, ping ten cents during the morn to be developed.

part ing and Jardines was down ten

heavy grain, November Cost of making the change in December 10, 7/26, with clause vents at the close, with Cements

estimated at limited to barley/osts/millet/ up 50 cents and Dairy Farms Britain has been down a quarter,

£100 rafllion. The change most songhums and 2,000 tons of favoured by expert opinion is a bagged cargo, with 2,000 gross discharge Holland Belgium, worth

102,500 gross dicharge Germany. John (ollburner), 10,900 *St.

Agreed merchant

rates

new

unit

money shillings-half ย pound--and divided into 100 cents.

delivery

But this new unit would have tons ew., 475,000 bale, 10, knots to have a new name and even on 27 tons fueloil, voyage home, Macassar, November many people who like the idea of decimal coinage would demur Hamburg range, 13/

14/25, redelivery Antwerp- at seeing the

pound sterling

West German Deutschemarks, vanish in name from the world's maximum selling 69-7/8..

| money markets.—AP.

Yesterday's Closing

COMMODITY PRICES

FOREIGN FACHLANGE

France

Norway

Motor vessel, (Greek), 14,300 tons DW,, 704,000 bale, 15 knots on 25, tong intermediate fuefoll plus tons diesel, nine/twelve months trading in direct con- tinuation, delivery China, end November,

redelivery-world- wide, 12/-. worldwide, UPI.

U.S. wheat

METALS AN

NEW YORK

for UAR

Washington, Nov.13.

Closing prices all in cents. The Agriculture Department

per lb

Lead, Dec.

98-27/32 1.8150

Jan.

Zing Dec

Jen

2.8050

15.76

LONDON 5.66: Closing rates:

New York

12.48

6-2.02-8/16

100 Montreal

2614 Cambodia riel (per 100)

11.05

81

28% BraziHan cruzeiro (per 100)

1,50

58) Argentine: peso sipër, 100)

242% Korean Hwan" (per 10001

4.09

Amsterdam Brussels Copenhagen Frankfurt Liston

80.174

4612 Italian Hri per 1000)

0.43

Stockholm Bilan Vicuna

A pleasure for, the

whole family. Playing time up to 8 hours per tape Superim "position": "switch. for dubbing. Essy opern- tion. Sturdily bulk and absolutely tropic proof.

Woolworths LIG.

Aust, Comm. Frida

Amalgamated Wireless 29/3 3.4

Berlei United Zid;

Blumen & Ol...

Contamery Ltd

Carrier Air Cond

Bradford Cotton

Felt 56-Textil

45/9 4.4

M/- 3.7 836 -2.4

·BASK (Broken : 251R

10/41

Caterpillar Tractor

Uranium

contract

Washington, Nov. 13.

Schenley Inds.

Scott Paper

Sears Roebuck

The Atomic Energy Com-Shell Oil

mission has signed a new Sheraton Corp. "contract with Homestake- Stagiair

Siegler Corp.

Smith, Kline and French

Sapin Partners of Grants, Scony New Mexico, for the South Puerto Rico supply of 16,862,000 lbs

of uranium concentrates valued at $335 million, it was announced here.

The Commission said the uranium would be supplied by two mills in the Grants area, Homestare-Sapin Partners and Homestake New Mexico Part ners, between September 1; 1961 and January 1, 1907.

The Commission said that with

Southern Co.

Southern Nat Cas

Southern Pacific

Southern Railway Sperry Rand

Square D Standard Brands Standard O (Calit) Standard (Ind) Sterling Drug..... Blakeley-Van Camp Stone and Webster Studebaker Packard Sunshine Mining Swift and do Tenn: G# Trane ........ Texaco

Texas Patru

Textron Inc.

Thioll Chem

3.7 the signing of the contract, Homestako Sapin Partners had acquired the assets of Homes- Tidewater Old

20th Cen-FOOK

alexico Partners, Union Carb

new contract replaced one Union

the Commlation h with Union Pacifi

Hometal

United Abrera Shave ended united ớt 1082 and the Budve

Exchange rates

NEW YORK

Closing rates: Canada AS England officiel

POSTBY'S New Zealand Chenmark

Business was done in the local Sweden

unofficial exchange markel ↑ tha Other unchanged.

27A one (ver $11.

at the following rates

Sterling notes (per #1)

76 Australian notes (per-£1)

473% Japanese yen (per 100).

French new franc-(per: 1)

B4 | Chines÷ JMP (ver

487

Taiwan yuon (per 100)

That baht (per 100)

| Pakistan (rūpes; (per)

Macdo pataca (për; 41% Norwegian kröske

74

113 Failippin PENC

13 Skagapore tresta Awirerand

42% Retherland".

West Gertiran.

RETAIL SALES DOWN IN UK

Retal

COTTON

NEW YORK

Closing priebs all In dent

priona ali si cents per

13/3

13/8 3.8

76/6 23

28 3.8 31/3 -82

Jas" Hardin " "Astrostom

John Mcllwraith-

Meggitt Lbd.

10/

4,6

Aust. ChemInde.

33/0

Cwealth Ind Gases 2 0/10/

2.0

Union Carbide - je

2.4

TERZILES CARPETS

Bonds Indantries

BREM

Burmese, kyst (per 10

063%

Copper. Dec..

Mar.

Misy

July

Sept.

RUBBER

NEW YORKAEVE

hos announced that a Public Law 480 authorisa- fian issued to the United Arab Republic was amended to let the A.R. buy additional 100,000 metric tons of United States wheat flour worth $7,380,000

The Department said the amendment also extended the contracting period in the authorl- sation to March 31411982 and the delivery period to April 30, 1982.

as amend

Rubber futures closing prices, The authorisation, all in cents per lb,led, now provided for purchase *Rex Standard | of a total of 200,000 tons of wheat flour worth 14,380,000, the Department said. The tubnage del previously authorised; bid been

bought --China Mail Special.

NEW YORK Prides, all:

17.31 7.31

cents per

EXTRA DIVIDEND

uronto, Vie

Normda Mines Lid Beck red regular quarterly dividend or do

tania both payable Beel