1961-12-18 — Page 2

Page Z

ES.OP

COGNAC

HENNESSY

JORAMIEKSY A 5

CDONAL

PRODUIR, OF TRANCE

Hennessy the finest Cognac Brandy in the world will add the finishing touch to your Christmas festivities. Hennessy Cognac Brandy in 3 STAR, VO, VSOP, XO and EXTRA provides unvarying quality for those who want the finest.

THE CHINA MAIL, MONDAY, DECEMBER 18, 1961.

Make This Christmas a

HENNESSY

Christmas

HENNESSY

Sole Distributors: JARDINE, MATHESON & CO., LTD.

REPUBLIC OF

Dory Prodents

Conned high bshmeal and lish oil

Fruits fresh & red and pores Calcium roibide

Hardware toons balts & nuts stee: ice furnature

Coat & coal la products. *Q*P!

Confectionery all kines

Dicmoc drills

Groundnuts & groundnut od

vegetable oils and peanvi butler Breakfast cereals & products

and food preporations

Refractory material

Metal products sales, steel windows,

household wares, sanitory

Mineral Qres & metals

Hospital equipment

Wool, tops

Freserved Fruits

Tobacco leaf

Organic & inorganic chemicals

compounds, plasticisers

Measuring controlling and scienblic

instruments

Musical instrumenty

Footwea

Parts & accessories for molor cars,

motor car batteries

SOUTH AFRICA

CUT OUT THIS COUPON AND SEND TO:—

The Senior Trade Commissioner for the

Republic of South Africa,

1st Floor, KPM Building, Robinson Road,

Singapore 1

Please send me a list of names and addresses of South African exporters of:

The name and address of my firm is as follows:

Name++

Addres

Total exports from the Republic of South Africa during 1960 amounted to £724,707,178 (US$2,049,886,014- HK$11,610,795,887 - Baht 40,376,542,700)

A lot of waste noted in U.S. economy TARIFF-CUTTING PLAN Unprecedented Kennedy's move PRICES END gets cautious approval

U.S. demand

for Unilever

LONDON

Wall Street's hectic rush for

the Unilever "twins" Unilever Ltd and Unilever NV last Tuesday was the driving force behind the buoyant stock market here this past week.

the

American demand for British issue was unprecedented and according la expert calcula- una turnover here as the coun ters probably was up to 10 mi- Jon shares

Hitish holders,

including the institutions, were sellers at the lugher prices and the proceeds. were apparently being invested Biely Another leading

New York, Dec. 17.

The U.S. economy ran at a brisk pace last

week but there was still a lot of waste in unused manpower and plant capacity —a condition which even in a boom is considered normal.

edi-

The question of not fully used economic potential even in a briskly operating supply-demand system came to the fore in the current debate over President Ken- nedy's request for broad tariff-cutting powers to meet the challenge of the European Common Market,

Cautious

Ken- | government rehef will fe approval for nedy's nove WB for theunang

Pugh Fast week from both dustry und labor, but it was qushiled by so many reservations that as matters stand now the White Boase wordd only achieve part of got and its hands would

* Labour sub by

WH:

egation This sudden injection;

pounds tain

tainly mute unqualined in as

The

several million

into other stocks pumped back heiped the string of rises Fabral Times industrial index arded 64 points over the week and finished a 229 8 against the year's low of 284 7 and the high

365 7.

Gilt-edged

Can-edged met consistent in- vetmen demand until Friday must of the bonds moved higher, metimes up to 15/16 La tier War Loan 3 per cent. of all added biggest issue 11:16 to finish al £52

lended

And Shanghai

higher and

Banks anning overseas Links Hongkong £ across the week to cluse at £18

Oils, fed by

Shell, Spurled upwards all

vards early on but the move-

ment lacked follow through and the counters declined later on. Even so Shel were 5 3 beller Over the five sessions at 117/9 un Friday. Royal Dutch added 19/16 to 12-11 16. British Petroleum yere also goiners.

The Toreign Lond market lacked tre and movements were marginal--UP!.

Exchange rates

Coservers

Sort but noted that it probably has not! ught of all the upben wus

were

10- alau

A5

tariff-

a first step in its cutting granune, the govern ment last week tentatively pin- posed slasting present tariffs on car imports froin Western Eut op-among other products--by aixotat

UP WHERE THEY BEGAN

Tax transactions continued to dominate stock dealings this past week, as prices chosed each other in strange movements which led nowhere.

OR

Stocks moved moderately higher in the Arst two sessions, eased on Wednesday (although the Duw-Jones Industriais index sneaked ahead lu 日 record

tumbled high).

sharply Thursday and steadied on Fri- day, to end up just about where they began.

straight was the fourth weck of uncertain movement within the popular market in- un denuñed dicators, on fairly heavy volume.

and

to worry began 20 per evnt, in exchange for a 20 per cent, analysts who have been telling to prepare clients for months inte cut an importa

Wester

for a vigorous Deceraber rally. Europe, affecting mosty U.S.

With only half the month re- industrial products.

maining and with technical measurements steadily weaken ing some of the experts actually looking for a further decline next week Father than the previously anticipated rally.

This move is

welcome news to cur importers who have had two bad years and only recently have begun to sell more agam. al present need not because it is worry, about d

Bul enjugire.

1

bon tariff tut Eunomists also poimiva out that the chews Kennedy got fremm lab.nur al Minus the wook nejazy equally addressed to his

Detroit to do serwitung. unemployment we to his

Frade

Programin measures of the saine pir grom-

AM

over-

iwi?

which may cevabually prove

manually exclusive

Exports

there may be a time when US ear makers will start complain- Ing

In

The complaint may be that the VS. car probable increase in exports to Europe--as a result of As for dustry. that part tariff culling there--is not en

deals ough to offact the increasE di finte minority – which with overseas was all for in European cur imports here. What governmen! do then? creased

even at the, will the exports

The What will

be the yard lick imports. price of higher

The majority, involved in the do- will use to decide if the domestic mestic market only, would only car industry has been tri en- get the increased imports end of gh to warrant Federal relief?

And how will this work out? the deal and its reaction. naturally enough, was sour

I With all the questions that

it

No change

the

were

Standard & Poor's 500 stock

index finished at 72.01 for a week-to-week loss of 0.93, in- dicaling almost no change in the paper value of all listed shares. The Dow-Jones blue chip average of 30 industrials closed for a gain of 1.17, at 729.10 while rails ended at 143.91, off 1.80 and utilities at 132.83 off 0.91.

Trading for the week dropped to 21.990,435 shares slightly from a turnover of 21,010,850 = week cariter and 17,946,485 in the comparable period of 1960.

Basically foreign stocks had a big week ranking in the

first If, these industry spokesmen this brings up, the first tariff-

three places on the most active asked, the U.S. economy never lowering deal between Washing-

list. Activity was produced by a and Brussels-the head- runs at full capacity, except in

vogue

In the market letters times of international emergen- quarters of Euromart-will un-

doubtedly pose an interesting claiming such issues are under- cy, would not increased imports test case

the later prices in comparison to their on which I put even more slack into

the stages of tariff-cutting may be American counter parts in mestic operations? The answer. patterned -UPL

Sane industry. UPI.

do.

implied by Kennedy last week, was that domestic-type industries will have

start

thinking about exports if they want to stay in business and Krow

And this is where the eru

of the matter Hes; in order to

engage in open trading with

Bank

move

shares

up $4

U.8. economy will have to be Hongkong Banks stood out again today in a quiet

Businers

was done nottichl exchange marang at the Tullowing latters

in the

10^6)

1

thaik

US dollar per $1

5660

Sterling notes iper £ Australian notes iper £1 Japanese yen spe: 100 Ambica and per 109: Freed new maile g

15.32

the Euromart, the majority of

12 455

1.53

*4#)

1 !4

126

5.30

4.001

1 I

047

53

26.50

7.07

Burun mtametre ape A genuine pren bei 1409 Korean twan (per RG! ilaian ira per 1000: Chinese JMP 490 10 Tarwas sue mags Thai baht (per 1001 Burmese kya tv s Pukisten ruper iper 10: Macay palara ipar n Norwegian krone per 1 Philippine pera yper 21

ngapore Stalls per 11 Swis trane per i Netherland: Euilder sper i 1 West German D Mark per li 1.40 Cuba peso per 1

P.O

11,98 770

reshuffled; some types of pro ducts dropped entirely; olbers stressed; yet others introduced for the first time.

This requires capital, a lot of it, and even if it works out will cause at least temporary hard- ship in the form of unemploy ment The government has promised relief to both business and labour to help them over the future difficulties. Neither labour believe, ! Industry, nor 0.80 however, at this point that the

1.20

657

ORIENT

LINES

AMENDED EMBARKATION NOTICE

S.S. CHITRAL

ROUND TRIP TO JAPAN CALLING AT

YOKOHAMA & KOBE

EMBARKATION: The ship will be berthed at NO. 2 PIER, Kowloon Wharf, entrance at NO. 1 GATE, Canton Road, Pas- sengers should embark between 6 p.m. and 7 p.m. on Monday, 18th Decem- bers, 1961.

BAGGAGE:

SAILS:

INDUSTRIAL

DECIDUCIUS

WINES

CHEMICALS

FRUITS

BRON and STEEL

MANUFACTURES

MAIZE

CANNED FOODS

METAL

MANUFACTURI

MACHINERY

AGRICULTURAL and INDUSTRIAL COMMODITIES BURDING

ETSZET MATERIALS

OFFICE FQUIPMENT

and STEEL FURMATURES

CITRUS

IRON and STIR

BACON and

HAM

The ship is expected to sail at 7 a.m. on Tuesday, 19th December, 1961.

Should be sent to the Hong Kong Kowloon Wharf Cola godown (an- trance at NO. & GATE, Canton Road), between 9 a.m. and 3 p.m. on Monday, 18th December, 1961.

NOTE: The ship will not now call at Shimizu

HEALTH:

ALL PASSENGINE MUST B VACCINATED AGAINST SMALL- POX BEFORE EMBARKATION

BUBJECT TO CHANGE Agenta:

MACKINNON, MACKENZIE & CO.

OF H.K. LTD.,

P.&O. Building, Hong Kong.” Telephone: 86211/9

morning on the Exchange. Banks moved up

to $362, a rise of $4 on Friday's closing price.

There was very little move-

ment in other shares.

Lights and Electrics, which were subjected to some profit- taking recently, were firm this morning, each adding 25 cents. Lights closed at $40 and Elec- trics closed at $381⁄21⁄2

Docks

gained $2 at $148. fractionally, Wheelocks dipped closing at $12.10.

The turnover was approxi- mately $1,890,000 this morning, compared wilk Friday morning's $2,360,000.

HONGKO

This mourning's quotations and prices were:

Govt. 31%

LUI

(1948) Bank

W locke

$13.10 512.20 1000 W 12 10 b380 6302 Dock b147 148

573

140

368

200 @ 300

100 @ 360

Lun Reg 6282 £200

E. Asia 23 Lombard D A. Inv HIFE Iny 52180 Whart

5920

8387

400 € 148

203148

Telco

C. Prov

12 ST3 100 do 744 200 g 721

629 528.80 2500 € 2654, ICCO 23%

HK ' 43 43

New

SCO 4313

SU9 or 43+ 500 48 500 Land b73 $734

24673 400 er 73

$30

640

100 40!

Gas 20.30 20.40

200@40

500 g 40%

Gilm

2000 44 20.30

$3.875 1000 @ 3.928

F. & P.

123.20 Realty 02.075 18 wo

30000 x 2.026 (New) 19 82 Cem

640

TIM

Bus

841 Dairy 2,300 @ 403,

60 73

67316 974

40 73

Watson Text

100 @ 23.40

b67 868

bokst

300 20

b5.45 5% 2000 g 6.45 1000 GSX6 1874 #545 2000 # 151

Y'11

128 127 400 120 70-0 128 Light 639 SAU

1000 5.49

N'yang

700 67 383% 500 40

300 v 3924 2500 40 1300 or 40

A. Rub baB

HK Elec

Fhones

Old

633 638

XO BA0.10 510.30 1000 g 20.30

C. Ht! b36% besy

L

A

4

1

6 # 37% Craw 3714-108

100 # 37

་་

2000 325 Rump.

5251%

b12.30 12.4I

900 % Int'l Inv 600 38% 10000381

Mine

Metal b240

btz 43 Vibro blo

500 ** 42

500

Hongkew ħi.325 42% Amoy

145

UNIT TRUSTS

ele

First Hongkong Fund: $11 (buyer) $1,21 (seller). REM

Second Hongkong Fund: 81 cents (buyer) 95 cents (seller).

WHEN YOU BUY

AMERICAN SECURITIES

Consult

DEAN

WITTER

Local Representat

DEAN WITTER INTERI

40% Shell House

& CO.

1.

C.M.

18.12.01.

h