TRADE
SOME NEW YORK SPECIAL ISSUES ROSE SHARPLY
By Dorothea Brooks
New York, June 5. Stocks moved in a routine fashion today with some issues marked back.
A handful of special issues rose sharply and held their gains while the main list improved frac- tionally in early trading then slid back to close about unchanged on balance.
Turnover
picked up slightly to 1,050,000 shores from 1,500,000 yesterday,
Won
Outstarkling wrong
Billi-Corona, up specials 136
the
the awardati court of cladena line about $10,500,000 for Gov- ernment Land of 14 of its shijs during World War 11.
Industrials
03
J
group
10 $42% JOE divident averaged down 0.03 en the day, increase and merger talk which | rulls off 0.07 and utilities up was later conarmed,
American-Hawaiian
0.10. Of the 1,130 1senes traded, however, 500 were higher, only
Steam-376 lower.
ship run up 0 to $110 ns a US
1956 Cutback
In US Production
merce
There was derrund for non- ferrous metals which lifted Ken- necott Copper 2% to $122.
% to $146
Bethlehem rose
in the steels,
Motora were narrow.
in olla, Continental galed 2 to $110, while Socony Mobil dropped a point 10 $11% and Texas Co. to $128.
Halls held in
very narrow range generally.
New York Stock Exchange bond volume was $3,670,000.
American Stock Exchange volume was 620,000 shares,
Dow-Jones closing averages
were;
New York, June 5. The Journal of Com-
did some
figuring today and came with some interesting data just how the 1956 cul- 40 onda
оп
back in US production of
now
30 Industrials
20 vals
I utilities
05 stocks
Comm future price index
automobiles affects Closing Prices other industries.
Taking
the
Industry-wide Allied Chemicals
| Allied Mills In
four-door passenger model with All Chalmers an averagó net weight of 3.826|American Airline pounds, the trade daily estimated | Amortenn Cable & Eladio Corp.
Amertean. Cunamide
that the ear contains 92.26 not in Mach Táry pounds of textile products, in-
cluding
upholstory
products
American Metal American Smalting
carpeting, padding, fell, thread American Tel & Tel
and tyre cord, tk.
auto industry
In 1956, the produced 7,942,125 new
CATR
Forecasts for production this
Amaroon Tob. "B"
Anaconda Çupper Annace Slee]
ArmoHLET
year vary from 3.5 million to Bengues Cond about 8 million.
Co
483 19
103 41
63,93
173.24
PG 34
151 80
THE CHINA MAIL, WEDNESDAY, JUNE, 6, 1956.
and
COMMERCE
SECTION
US RESERVE AID WITHOUT STRINGS Germans Building
Washington, June 5. Tho Federal Bemeria System added to reserves of the nation's banks f
Ita
the Wrok endod last Wednesday by Incregalur
holdings
of 91-day Treasury bills by $195 milion.
This addition followed the recent indications from Federal Reserve sources that ries would be taken Lu supply commercial banks with reserves to help them to meet seasonni needs. It wra indicated thai tho Re- norves was mindful for the of ex. immediate present
panded credit requiremKOTI ÎN of corporations to pay On June 15 their Federal In- come taxes. → China Mall Special.
WORLD
COTTON MARKETS
New York, June 8.
ū
Colton futures trading
OX-
poked along at an tremely slow pace today as awaited now traders incentives.
Pricer
see-sawel
the
Western Assistance HONGKONG Textile Factory
And Development
In South Asia
By GEOFFREY TYSON
A Member of the Indian Legislative Assembly from 1944 to 1947 who has recently ro-visited South Asia)
There is much evidence to show that the tempo of economic development is quickening throughout South Asia, particularly in India.
STOCK EXCHANGE
In Afghanistan
Bonn, June 5.
Several hundred German engineers and (From Our Correspondent) technicians are in Afghanistan building what will Business done on the Hong-be Afghanistan's largest textile factory-with a kong morning amounted to approxim- proposed annual output of more than 35 million ately $700,000, Noon quotations and the morning, transmetres of textiles-and her largest hydroelectric
Shares
BANKS
HK Bank
Stock Exchange this
Dayers gellora Eas
30 #1030
..... DOY
24 4 DOU
600 4 43
East Asia INSURANCES
in Lombard**** SHOPPING Walerboat
(0) Waterbost
(N)
DOCKE, ETC
War
100034
21
20
的
200 93-
4314
Provident
10)
14.20 14.40
1300
13.70
The acceleration can be attributed to a number of factors: a series of good monsoons which has perceptibly eased the food position; the terms of trade have tended to favour producers of Industrial fibres and such commodities as rubber; "national plans" have overcome their initial diffi- culties and gained a certain momentum and, last but not least, a steady flow of external assistance -particularly from Britain and the Common-wheelock
and the wealth countries
US has been LAND, ETC.
pock
HKC Hotel
Humphrey Realty RUBBER
forthcoming in the form of "aid" and private Land.. investment capital.
(have refused to do, is allogether Indeed, it is one of the para-
situation too disingenuous. The foci in- doxes of the present that the rute of development (and this is particularly true of India-that technological 'ad- narrowly, attained in South Asin, which is
to Colombo ivances are now occurring on remaining submerged just below partly attributable
and the previous etose most of the Plan
other form
of such a wide industrial front that Wesleri assistance, is now equipment and "know-how" are slay.
beginning to
attractive required create
quantilios that were Observers estimated
a (ew years Russia and volume below the 27,700 bales business opportunities for Soviet not contemplated
other Communist ago. That, in itself, is a tribute
to
of the effectivenes
the which was countries, which have not been
sociated with the various rational plans and
And Western aid alike. trade of this vast area. naturally they are not slow take advantage of expanding markets and the increasing de- mand for industrial and other equipment which national plan- ning brings in its wake.
chane un
Morisy.
A five-historically the third smaltest for hour session in almost 20 years,
The commodity exchange
records authority, where back to 1937. showed the previtnis low at 19,300 bales on the recurd May 4, 1943, with low of 18,500 bales was
made
Markel experts attributed te inertia to continuing uncertain
Helping Hand
to
Impressive Record
works.
The textile plant is to include à weaving mill and a textile
printing factory and is being at CHICAGO GRAIN
Bulbahar. The hydroelectric
a
plant, at Sarobi, will have capacity of 24,000 kikowatte un hour. Both plants will bo com-
pleted next year.
Other Afghanistan projects in
MARKET
Chicago, June 5.
Groin futures were trostular
| which German firms are engaged | on the Board of Trade today.
Include an ultrashortwave finos- 1000 13.50 mitter for Radio Kabul, a large 1000 14 1000
14.30
0.00 200 49.70 3500 ** 0 80 500 13.40 100 0211
0000 @ 1.475
1.00
13.30 13.40 024. #
12.40 146
A. Hubber 1.40 1.2 10000 140
Trunt
30000 ₫ 14525
1037 1.429 30000140
A
general upturn in prices
automatic telephone network at mid-moming was caused by and exchango for the elty of report of the harvest delay in Kabul, a envtal factory, a wood the southwest, and a crop re- processing plant, and a motor car
port by the Francis 1 Du Pont repair factory.
substantially and Company lowering the winter what es timate from a month ago.
Only $10 Million
This close industrial and ..... 4755 1625 7515 or 1.35 economic co-operation between 10000 #1035 Germany and Afghanistan 27,430 1.00
bogan after Herr Alried Krupp, 1000 1,825
the German industrials, and
industrini delegation 2000 v 21.30 German 21.00 2.00
860 ur 23.20 visited the Middle and For Eart 180022 70 retaily. Although the delege- libp did not slop in Afghanistan 500 et 20.30 | L had talks with Alghan leaders
Bonus 20.30
Telephone 2420 220 3300 23.30 in neighbouring captials.
Fr
of
RL
Rt
INDUSTRIALS
UTILITIES Trom C. Light (0) 200 210
C. Light INI 20
301 3015 Electric
19.30 1019
11.00 11.20
100 11.70
C'ement Rape STORES. ETC.
Watson
15,90 10.10 1000 10 10.40
240 @ 10%
COTTONS
Corp.
3.25 EOUS
0.30
Development expenditure in the public pector of the economies of nine recipient member countries of the Colom-
But to protend, as some Combo Plan shows a progressive in-
crease: thus actual expenditure
the
year administrative a helping hand to 1953-4 was calculated
at £542 for
raw cotton surplus and applica-re lending thon of the soll bank law to the national planning, which others millions; revised estimates growing crop.
Dullness in the textile market
a quiel pointed up reports of mt demand for spot cotton Manufacturers reportedly were postponing new purchases pend-
further
developmenta in the raw colton picture,
The Government weekly crop
said the summary today was doing very well, although sume late fields were coming up in the drier plor stands
crop
WORLD
RUBBER
MARKETS
the current year, 1954-5, ore put at roughly £725 millions and. Inadgeted oxpenditure 1955-6 ts £827 millions.
for
of
programmes, proportion
It is significant that in the first three years
the Plan, of capital was offered from the Western member countries for about one-third of the cust the development and an oven larger was committed last year, though Just how much larger it is not New York, June 5.
yet possible to calculate. By any rubber test this is on The No. 1 Ras
Impressive contract today cord. closed 20 to 30 points At just before the close prices lower with sales of 86 con- studl! [ duty trade
covering tracts. finishing net to 5 points were off
The certificated
stock re-
mained at 11,042 bates. The futures
195,600 bales.
In July
totalled
higher, Opening prices
1 01
to 0 points. New closed unchanged to up 1 point.
Volume Month
re-
But in any assessment of the quantum of resources which the free West has committed to the
$114
on August 2, 1040.
241.
249%
&
70
28
ties relating to Government ex- port polley for disposal
of the munist spokesmen do, that they for
24
Bi
IBIA
DO
71
5001
13aldwin-1-m
122,
Baltimore & Olu
40%
Bendix Aviation Corp
0011
Bethlehem Steel
1467
ing
Being Airplane
821
CONSERVATIVE
According to
Borden (7her On
Burroughs Add Machine
307
the Journal of
Canadian Pacific H
30%
Came 13 Co
137.
75
13.
to
445,
007.
arcas.
401
{"enunonwealth Elec
40
Consolidated Edmon
40
open position
Continental Oll of Del Crane Co
3
Crown Zellerbach
(47.
Cuban Anier. Sugar
13
Dianu Alkali
2
Dupont de Nemuties
2001
Destinon Kodak
Pono Nations Cras
4pt
Erie Railroad
Family Finance Corp. Ford Motor
Open interest
July
7,800
123,000
621
8724
Out
4.400
207,100
Dec.
4,500
400,100
9431
Mar
3,000
235,200
May
200
130,400
30
July
Och Телесик
300 2,200
20,800 27,700 1,450,200 balen
NEW YORK
118,000
in cents per lb. as follows:
Spot
Int'l Business Machines
July
Int'l Harvester
Oct.
32,50
International Nicked
Dre.
International Paper
Mar
12 74
In Tei Tei
May
32.59
Kanos C Puffer & Llati
July
3190
Oci
30.JU
July
220.50
Kennecott Copper
Lyell Meyers Tob
Cu.
NEW ORLEANS
September December
Standard contract
Jutky
20.70
in cents per lb. as follows:
Spot
30
September December
25.75 2450
July
Merch
34.06
34.58
Mae
Oct.
Dec.
32.05
Mer.
32.74
May
32.00
July
3138
Ocl.
30.96
LIVERPOOL
Commerce's "conxrvative" esti-Cat Tractor.
matc demands (wood,
the
aulo
Chrysler Motors
industry's Celanese Corn for textile products Financial Corps' cotton and man-made Abres) will shrink this year by about 200 million pounds from the high levels of 1955.
20
| Gigante-Palmolive Co
Commercial Credit
Dow Chemicals
It catimated the typical four- door passenger car also contain 88.4 pounds of malleable Irun; 11.30 pounds of aluminium and alloys;
about
pounds copper: 15.6 pounds of conper allays: 30.4 pounds of lead and Its alloys; 36 pounds of zine and Ita alloys: 17.33 pounds silicon: 1.4 pounds of tin; more General Motors than 70 pounds of glass; 10.1 Gen, Pub, UG1, 55 pounds of lubricants;
General Electric
of Gent Foods
pounds Getty ou
Güdden Co
of paper; 20.6 pounds of rubber Goodrich (B.F) Co.
д
compounds, more than 5 pounds
of various types of plastics; 2.8 pounds of asbestos; about half pound of cork; plus other quanti- Licg
Inlea, foam
leather and other
United Prosa.
rubber, products.
Goodyear Tire Heyden Chemical
Honelake Miring Co. Ingersoll-Rand
Inland Steel Co
Interchemical Corp.
John-Manville Co.
Singapore Stock Market
Singapore, Jume 6.
Brokers today quoted the fol- lowing stock prices:
Lockheed Aircraft Loews Incorp, Lone Star Cement Cu Lowenstein & Rons. Membi Iron Corp. Minnesota Mining Motion Devatopineæt Montgomery Ward
Motorola Inc.
National Cash Reg. "A" National Dairy Prod.
Opening National Lend
National Steel Corp. New York Central Olm Mathieson
Republic Steel
at the
or
survey
Dairy
Textile
MISCELLA Yanguze
Allied
****
Last year
West Derman porte to Afghanistan totalled only 11600454.75 $10 million and her imports from Afghanistan $3 million. Officials аго confident, however, tttut trade WU
considerably
London Stocks
Show Signs
Of Recovery
be
stepped up in the future.
of Germany Representatives and Afghanistan have been close touch recently to expand
and trade mutual
C
sources
A brge
here Buid
to be
credit,
jointly by the West
Government and Industry, under discussion.
Watchful Eye
The Germans are
ber
The wheat Agure was cut Borne 57 million bushels from the May estimate, and is off about 20 million bushels from the May 1 estimate. Very little selling pressure was noted the wheat during the session, and advances carne easily.
nervous
the
and
Soybeans were erratke throughout
day. Crop remains generally favour- able over all soybean producing
RTC03
Wheat closed up to cent; soybeans up 2% 10 off cent
CLOSING PRICES Prices per bushel in cents:
in
Wheat, No. 2, red
Spot
July 20714) 200 (1)
2001-9
diploma-
Sept.
that Είναι
Nov.
Mar.
208 21111-13
113-12
German
was
Corn, No. 2, yellow
Spot
Sept.
Nov,
Mar,
Ryo
July
Sept.
10
in
Oate
July
Skept
$1
Economics Soyheans, No. 2, yellow
Spot
July
Sept
872-3719%
to
Nov,
Jan.
Mar,
conducting
the discussions with the intention of assisting Afghanistan
industry develop London, June 5.
accordance with a point four and Stocks recovered after
a half programo designed by German three gloomy sessions and the West closed generally steady on Ministry and industrialists. This plan is similar to the American Exchange the London
"Point Four
Programme" today.
assist underdeveloped countries.
German firms, such as Krupps,
M.A.N., Hoch Und Barley,
British Governments, aided by ahort covering, posted advances running to seven shillings with Siemens, War Loan
the
LONDON METAL PRICES
and Old Consols in Tiefbau, and others are turning The standard contract closed region some mention must also unchanged to 30 points lower be made of the role of private the lead. But interest was tern-a watchful eye to the new
investment and enterprise. Orleans with sales of two contracts.
pered by weakness in the pound market that will offer itself to sterHng and not-too-encouraging them as soon as West Germany closo
Afghanistan Prices steadied
strant It is not easy to collect
Britain's gold and can reports on trade
planned credit. Chino Mail recent dçiler reserves. under local covering and a
collate statistics, but a dermand, prompted apparently
Industrials fired and managed Special of foreign capital in that country small by firmness of shipment offer- Reserve Bank of India
gatas. Rolls-Royce was ings. Earlier, prices eased with shows that in the period 1949-
feature, adding about a shilling, the London markel and profit 53 there was a not addition to and Imperial Chemical also add- laking by
sume ct Monday's private foreign investment of ed on shilling.
approximately £100 millions of buyers.
LIMITED VOLUME came from Lifting of the Malaya ban on which 82 por cent
Olis brightened on limited volume. shipments of crude rubber be the United Kingdom.
Royal Dutch Rdded hind
and Burmah and the Bamboo Curtain' ap- peared to die out as a market
Petroleum joined the influence overnight, Factory th Spot No. 1 terest was limited.
was quoted nominally st 27 cents a pound, Futures:
No, 1 Rs
Prices of future: closed today
30.Con 34.60
32.00-17
Prices of futures closed today
Rasi
July
SINGAPORE
Barter Deals
And this further point be noted.
nearly British
122
Spat
390-140
New York flour
200 lb. mck
$13.760
WINNIPEG PRICES ·
Winnipeg, June 6.
Prices of grain' futures closed
today in conts
foliowe;
Oaks
July
Oct.
London, June 5. Prices of metals closed today | Rye
Dec.
in sterling per long on
a
July
Oct.
buyers Bellers
Dec. Barley
140 741
July
J-month
740 741
Oct.
Copper pot
307
300
3-month
107 208
Dec. FlaxseedTM
Lead at half June Sept.
Beat,
11111
July
106 100
Dot.
1234 2314
Dec
fnited Press.
modest advance. Anglo-Egyptian follows: "B" was a loggard and closer more than a shilling tower on Tus spot may the day.
R
Dollar stocks improved in Iine with Wall Street. Gains rom up one or more.
Whenons most South Asian tratauctions with the Comanu- let countries are in the form of barter deals, or self-liquidating orodits, Western collaboration, Foreign bonds were dull with particularly British collaboration Japanese liens fractionally lower. (crtaide the pubile sootor), · con- |--United Press.
Profit-taking weakened gold Zinc 1st halt June shares, and coppers were almost motionless.
slats almost wholly of
per-
manent investment of privately
owned risk capital, which i New York Sugar
After hesitant opening the revocably committed to the market steadied with sellers recountry to which it is sent. served. In the afternoon sellers mot market and prices gagged
Future closings, in pence per until towards the close when
July/Aug.
Oct/NUV
Dec/Jon
Mar/Apr.
* SAO PAULO --
felt London Foreign
20.00
2945 26.03
somma resistanco Futures: No. 1 rubber per "b. June 7375-78 July | 74-14JA Aug. unquoted
Was
2430 No. 2 rubber per 1b.
24.06 No.
Spot rubber unbated
23.93
No. 4
*03,00
Blanket crepe
No. 1 pala erepo
Exchange
154-104] New York
98-100
Montreal Amsterdam Brussels
LADGON, JUDE_5. 3,80×1/18-2.301 2.773 -2.77-7/10 10.40,5-10.00
1991319.38
Market
New York, Juno 5. World. No. 4 sugar futures today closed 3 points Iowar to 1 point higher with no sales re- ported.
Domestle No. 6 sugar futures closed unchanged to 3 points higher with sales of 97 contracts, Both contracts ruled quier pending developments in the raw and relped markets.
Futures:
Batu Lintang Rubber Co.
Lid.
$1.02
Ziritish Domeo Petroleum
Byndicala
OM.
Consolidatort Tin Smelters
47x0d*
Otis Elevators
Owen-itinats Glas
73%
2813d
Pactic Gop &
Elec.
1b. were as follows:
Fraser & Neave Lid. Ord
81.89
Pan American Airways
Old contract -
FTASOT & Neave 1
cum.
Paramount Pictures
July/Aug
pret
$5.70
Parks Davis Co.
New contract
Hongkong & Shanghai Bank-
Penny J. C. Co.
my Corp.
$870
Penn. Salt Co.
623/2
Кетрая ла
Hongkong in Lid.
6
Phlip Mortis
$1.69
Procter & Gamble Co.
100
Lune Rubber Estates Ltd...
D.TO
Plisburgh Plate Gluns
08
May/June.
Malayan Breweriți ........................
$3,43**
| Publieker Industries
Now Serendah lubber Co.
Ltd.
| Pure Oll"...
July/Aut
Egyptian Karnak
$1.00
Radio Corporation.
4312
• Petaling Tin Ltd.
$3.42
Ramon Hote
Reynolds Metal
Singapore Cold Blacago
$1.45
still on Co. ...
Frankfurt
Bouth British Insurance Co.
Saint Reg. Paper
July
Lid.
221,50.
Binclair Oll
per kilo were as follows:
Straits Trading
$23.25
Bocone_Mobiloil
June
Siraite Siamanip
$11.00
United Engineer Ord.
$7.70
Bouth Pupeto Rico Sugar, Routhern "National Gas L
July
inquated 5420 607.20
per lb. Prices:
*1.77
Southern Railway (Com))
Dec.
39.20
No. 1 spọt
Mar.
30.00
NAR Bettlement house term:
2336-293% Zurich
Milas
Stockholm
others were unchan
Sept.
Oct.
Mar.
MAY
Standard Öll of Cal.
Atay
304b
July
United Press.
July Sept
per lb.
Standard Oil of Ind.
0011
The average spot price was unavailable today. Salos at 13 | JulySept. markets totalled 7,655. balez, --- United Press.
AUR
Sept.
Contract No.
| Oct/1960.
Jar/Mar
27.
5.50 5.54
Apt/Juss
0.07
120
Tide Water As, Oki mina
Warne Brodet exdiv-China Mail steder Brands
Special.
Standard Oil of NJ, Sterdiner Drug Co.
Stoicaky-Van_Camp,
NEW YORK METAL persPackard Corp.
FUTURES
New York, June B. Prices of metal futures closed
today in cents per lh, as follows:
Lend
Texas Co,
Twenty Century Fox Jün
Union Carbide
Union Pacific Readway...
Tina
July
June
Copper June
July
です。
Futures closings, in cruzeiros
CHICAGO LARD FUTURES
“Chicago," June 5. Pries of lard futures closed today in cents per lb: as follows
United Aircraft
UA. Gypelin *.*
14.87b
1.8. Line O
14.78b
[U.S. Rubber
D4.70%
14.600
Un Bie
Warner Bro#.
Hept:
Ool.
Putos de Paper
Nov
44
United Pram.
13.00
United" Pro
LONDON
Copenhagen
The market was quiet with Libon spot quoted at 22-3/10 penco, Paris
General markets, cik buala, ports June
July Auk
Statale trepa linquoted"
"
AMSTERDAM
The market was quiet. Prices cloned today in gullbera per kilogram, vcít, June as folloni; No. rubber
No. 3 'rubBet
New York Foreign
Exchange
Canada England omels
100 bald.
Pakistan
New York, June B.'
unoBelst 50-day · futures 90-day: hiturve
Contract No (world)
July
Nov.
Spotfortits pee li elf NY
• @jc-chuty}
3.27
F-United Press.
Exchange Rates
·Huukritom · vial" done Jr, the deni unosiciel: skehaney: marÜNT.
Thats
140/azza | morning, st, the following rateg:---
Berling, mote (pir) #1)
Australian rotas (par
Mall Indonesian: TUJINI:Kaper, 100)
Blam tical (awe 1901:
Singapore (Stratló)
WHY DO THIS?.
When
per bushel as
Wheat No. 3. 16 cente; No. cents-Villed Press.
you can put your money
to work in World-Wide Trust and earn 8% yield ... TAX-FREE!
Write today for information
The Moroccan Bank
also known
The American and Foreign Bank
MOULIVARD PASTEUR, TAHOIR, MORQOCÓ
TANDHER'S AMERICAN BANK "
138