1
London Stocks
THE CHINA MAIL, TUESDAY, JULY 24, 1956.
TRADE and
COMMERCE
Progress Towards Common
Drop On West European Market HONGKONG
Labour News
London, July 23. Stocks finished Frac- tionally lower as labour trouble in the auto in- dustry dampened senu- ment on the London change today.
OEEC APPOINTS WORKING PARTY
TO EXAMINE POSSIBLE
OF FREE TRADE
EXCREATION
Worries that President Elsen- hower's later comments on his might unstle Wall Strevi also touched off sorne self- ing, although volume was elerle,
Tak-
Industriais retreated bin mon
to atrou! held their own shing Exceptions were Borax Deferred, off more than seven,
and
and Brivisht Aluminium, dewa around the VG,
Oify tell heavy selling mosy closed at the day's lows. Shell Transport Anfabed more than two
From RONALD BOXALL
STOCK EXCHANGE
AREA (From Our Correspondent)
London, July 23.
Business done on the Hong- kong Block Exchange this morn- ing amounted to approximately $1,000,000, Noon quotations and the morning's transactions:
Buyers Sellers
Further progress was made towards the establishment of a common market for Western Europe during the ministerial meeting of the 17-nation Organisation for European Economie de Co-operation which has just ended in Paris.
Lip) of
A special working party hat members will abolish duties on
to consider the
each other and imporis from free creating &
establish a single tariff against AndPossibility shillings tower,
trade aren comprising the six goods
And- from outsick other oder lent almost F6M
how many countries who are planning the depending on
Joined common market-France, Ger- countries
the commIOTI Belium, Holtand mumy, Italy,
Britis
Governme7ILS opened
statedly, (them returneri ensferr Fractional fosses predominated at the ele
Copper and gold shares were fairly nuka bat tended lower in line with her sectieve 17mill Prest
Exchange
Али
dotie
Rates
Tauxembourg — and
any
other OEEC country which may cerute to join in.
In itlating thege joint resimrebe. VEEC is attempting 1¢;l:དét༥་) two objectives.
caster
Cerlajo meinbers are
tarify reductions ng for Konte tre chiefly
at
press-
between
in the cal European countries in the next
is logical step erket
Inorning at the Tulipwe alena
3117
1)1
freeing Intra-
Europeary trade. Other mem-
Bustne unetheial
US doler
Sterling miles per
D
Australian nutes, spet £!
Indonesimi rumah rpes TOU
18 hu
Slam Heat 100
27 00
But if the Western European
Sivaiore ESUAINE
become reallly its
já jó | bets-Artitain among them—are 12:43 resting this move
Railroads Show
Big Gains
On Wall Street
New York, July 23.
Gains ranging to $2 a share in railroad shares featured an irregular stock market today.
Utilities
Strength in the railroad section more than offset a decline in the industrial average. set a new high since March 26, 1931.
Markel experts sad the rise
in rally reflected anticipation of
it
a settlement in the 23-day steel
which
hos strike carriers millions of dollars Just business.
Union
Chwyder Motors Colgate-lahožive Q: Qommercial Credit
24411
GENTILEYWOafth Elec
the
Cumulated
Txtion
43 45
Ira
Brown Zellerbach
Cordaneustal Os of Del Crane Ca
1204
CHA
10
6716
7832
218
0036
no
Pacife was the pace- Better, rising $2.75 to $171.75 share. Gains of better than $1 oppeared in New York Centre, Baltimore & Ohio, and Missouri Pacific.
A number of Industrial stocks also ran up good gains, but some were big users. Copper shares were particularly weak, Losses of more than $1 were trote in American Smelting, Kennecoti and Anaconda,
Telephones Up
American Telephone was
upside
feature,
$1.20 share.
Steel
running
sharts showed
נה
| Cubai Amer Sugar
Dumond Alkali
Dow Chemicals Dupont de Nematura
Froman Kodak
El Fram National Gam El Railroad
Family Finance Corp Ford Motor
Generni Electric General Fuoda
General Makars Gen Pub. Util Getty Oil
Glidden Co.
Giedrich (B. Fi Co.
Goodyear Tyst
Heyden Chemieni
5012
1085
1700
45
Sharon
BÁNKS HK Bank INSURANCES Lombard SHIPPING Waterboat 23.00 (NÍ 1940 Wheelock 9.30 DOCKE, ETC.
b:#
SECTION
US COTTON CONSUMPTION
Washington, July 23.
The Census Bureau sold today that 8612,830 tunning bales of cotton weto con- sumed in the US In June, compared to 849,413 dur- Ing Table Is your.
In its report on cotton and linters statistics, the Bureau sald 8,597,842 bales were OOTILINGÜ Harg season through June, 1050
to compared
8.275,824 during the salió perlot
year ago.
Cotton on hand in pablio storage and consuming establishments totalled 14,365,817 balen on the last working day of Jua7zG compared to 11,251,318 on the
day comparabit 1055.
The
of
Bureau maid there were 18,054,000 active
940 0000 em 9.33
cottoh Desaining, spindles
30.- in the US on June
United Provo,
protesis, have taken them fully Wharf 031 into account.
03
200 th 04
9:00 04
Dock Prov
LAND, ETC
Lord) 14.70 14.00
700 ₫ 421
500 14.00
1000 1400
1 Hotel..
10 10.20
1500 10.10
3100 » 10.20
2000 10,10
ICK Land
GD
70
How for expample would the abolition
trade of tariffs for within the common market and would go a long establishment of a single tarift market-this way towards meeting the dengainst goods from the outside mand for tariff reduction; it in with the present Imperial
preference? arrangements? "European goods."
Sent Observer
Tolly countries
on
on the other hand the ideas is 10 Juvite Overstaa Common- wealth craintries to join tha common Torkel what would their reaction be?
Even
If
Britain's relations
Humphrey. Really RUBBER Analy UTILITIES Tram Stor Ferry Yaumati
© Light (0)
000 10
200 # 00 300 00 20.30 20 1,000 or 203) 1.50 1.50 15000 21 1 525
1473
100
23 20.10 1800 ( 25.10. 142
300 0 143
40
114 110
25 23.10 1000
800
WORLD RUBBER MARKETS
Page
|| COTTON FUTURE
PRICES FINISH
New York, July 23. No. 1 Rss rubber futures closed 50 points lower 10 30 points higher with sales of 119 10 contracts.
113
ON THE UPSIDE
New York, July 23.
Cotton prices finished mostly on the upside today after trading on the downside throughout most of the session. Trading was moderate.
Deu
At the close, the list ruted to Det. 11 points higher, Opened ona four lower. New Orleana closed six points higher.
to
The market opened Casier with routine price fixing abrorbing moderate hedging. and slipped oven further later ou a litle hedge pressure. Most of the early business was con tined to the nearby months but spread throughout the Ust later In the day -
up before We Buying piekra close and most earlier lowMTY
were Crusesk Most contracts closed around their highs for the session,
30.03
30.09
NEW ORLEANS Prices of futures closed today
as follows:
Spot
Oct
Deg
MAN
May
July
Orc
LIVERPOO1
33.75
#28888
Futures closings, in pence për
b. were as follows: Old contraet
July/Aug
Dec/Jan.
Mar Дp: May/Juno July/Aug.
SAO PAULO
Futures closings, in cruzeiros
27.05
Oct/Nov.
Dec/Jan
Mar/Apr
23.40
May/June
21.35
July/Aug
23.10
The Census Bureau reported
illy
012,330 US
consumed running bales of cotton during June (25 working days) com-
bates
In pared! with 713,940 May (20 working days) unt 849,413 bales In June, 1955 (25 working days).
New contract
Oct/Nov
23.00
21.45
22.45
23.08
24,50
Egyptian Karnak
July/Aug
$4.00
NEW YORK
per kilo were as follows;
Ort Dec.
.unquoted
participation pean would Involved prevently
1
be
common market
stili
The proposal
drafted envisages
her with West Euro- there risks
Electric
... 32.75
33 1000
500
75
15
width
Prices of futures clowed today as follows:
Mar
33,20 39.20
May
July
Spot
344511
500
70
Dinca E. Telephone INDUSTRIALS
620
Closing prices:
ન
32.31-JZ
Dec
32 45-47 designated
23.00 2040 3200 20
Mar
No. 1 RAN
May
240 *2 26
33.84
cents
Sales
WIS totalled
July
34.00
July
| 8,005 bales---United Press,
Cement
17 3711
300 371 3000 vb 37
Sept. Dec.
3223
30.33
STORES, ETC
Dairy
Watson
... 10.00 16.80 1387 10.00 10.00 12,00 Labe Craw 29.40
Standard contract:
13
T 2055
July 300
1700
33.75
Sept
31.40
Dec.
2074
COTTONS
Mar,
20 18
Textiles
4.00
Мду
29.48
Nanyam
7.00
1000 770
July
21.00
*
归 7.10
5.45
which are making for prompt action on turists OEEC has now decid- ed that if there is any prospect with the Commonwealth could
be reconelled of substantial progress before the end of the year in the com- non market scheme the work- ing party will be asked to com- ptele
work ns soon 03
Its
postille
progress
If, on the other hand, prese
is slow the reduced besides a common market com→ inriff plan will be completed plete freedom movement within without delay
letty the
This would the area of labour and capital.
Is Britain allow Time for
Lo come plan
prepared 10 Open her doors to for Mign intu operation in Jamary 1958.
workers and foreign enterprise? subject to member governments [:proval The OBEC decision
ใบ
been welcome by the sponsors of the common market proposal, But the big question whether Britain will join in- remains unanswered,
Pointedly
Even if she were would it end there? As Sir Edward Boyle pointedly reminded the House So Britain has stayed the supporters of the common
for resolutely on the sideline in the market belleye that it will be talks that have been held to
NECESSITY also
to harmontse prepare the way for the com-economie polictes and indeed market and attempts to social policies as well with the drow the Government out on its prospects of great pressure to- intentiors have been abortive.
wards even closer integratio,”
M}}T
the proposal was put After forward by the six nations a year ago Britain accepted an invitation to send an observer
Britain may well hesitate to align herself with the scheme, But what if the scheme goes without her? Then
through
on
10 a conference in Brussels to her choice would be between
report on the feasi-joining
other prepare a
countries bility of a COMINON market. terms OF staying out and Britain, however, had no part
the forgoing
advantages tho In drafting that report and was membership would bring
the sub- represented at
advantages which Sir Edward sequent conference in Venice to Boyle sald no one could deny. pave the way for a treaty to set Up a common market,
Thi
Most Tellingly
determinative attitude 20% and the British Government's 243 fallure even now to say wether it is for or against the WIL DO Common Market proposal has
4734
of 38mgered MPs on both sides 50% the House. They believe that
wiless Britain speaks up now it will at the best have to join in
011
on terms which it had no may In drawing up or, at the worst, reheme will break 633 the whole
down through lack of support. Con- Mr Geoffrey Rippon, *rvative
succeeded
Homstake Mining Co.
35
Ingersoll-Rand
Inland Steel Co.
Int'l Business Machines
5.20
Int'l Harvester
40%
up
International Nickel
100%
International Paper
onc
Int'l Tel & Tel
33%
John-Manville Co.
0011
4241
strength, mainly on prospects of good earnings reports this week on speculation the industry and on may be preparing a new offer to the union to end the strike.
today
totaled 1,070,000 with 2,020,000
Sales sharesi compared shares on Friday.
Of the 1,141 shures traded
461 431 advanced, clined and 248 were unchanged,
today
|
Kansas C. Power & Light Kennecott Copper
Liggett Meyers Tob, Co Lockheed Aircrari
Loews Incorp.
Lone Star Cement Co. Louisville & Nashville B. Lowenstein & Sons.
Mesabi Iron Corp.
Minnesota Mining
MP.
recently in raising the question
in an adjournment debate the House of Commons.
肌
But
07% (although he had the support of 171 other members of his party, az 23 well as that of Labour MP Mr 100% Arthur Holt, he
23
tailed
10
extract any firm policy state- 733 ment from the Government,
The case for Britain giving 427 support to the propound was pul Sir Robert by tellingly 71061
"In this age of mass
de
Mission Development Mensanto Chemical Co. Montgomery Ward
40
43
Motorola Inc.
get new
National Cash Reg. "A"
National Dairy Prod.
41
National Lend
£22
73
A total of 18 issues highs and eight new lows.
New York Stock
Exchange bond volume was $3,270.000,
American Stock Exchange volume was 300,000 shares,
closing averages Dow-Jones
were:
30 industrinia
130 mile
15 Untitled
do stocki
40 bonds .... Comm. future price index. Comm. pot price index... Moody' andEx
Closing Prices
Alden Ino. Aty, Allied Chemicala Allis Chalmers American Airline American Cable
Corp. American Cyanamide Am. Mach. k.T dry, American Maatal
Amican Bmelting Am. Bugar fet. American TV &
American Tob, "B" Anscuida Copper Arrito Steel
Armour
281dwin-dma-Ham.
Beftimore Ohio
De Bendix, Avision Corp.
Benguet Cone, joka
Bethlehem Steel
Boring Airplane
- Border: (The) CO; INN
Burroughs, Adi 20schigi
Omerung | Corp. DAA, Jeandial Corp.
National Steel Corp. New York Central Qin Mathieson QUs Elevators Owen-Illinois Class Pacife Gok & Elec. Pan American Airways Paramount Pletures 170.44 Parke Davis Co. 10:25 Penny J. C, Co. 18.30 Fenn, Salt Co.
013.01
03.74Philip Morris
150.54 Frocter & Gamble Co. 102.00 Fittsburgh Plate Glass 400.00 Publicker Industries
Pure Oll
Radio Corporation
Republio Steel
Heynolds Metal
Shell Oil Co
Faint Neg. Paper
112 Sinclair li
30
2416 Bouth Puerto Rico Sugar
Bocony Mobilall
Southern National Gas
67% Boutheum Ballway (Com.)
Starschard Drande
741
20
Standard Oil of Del
BUY Banchard Ou of Ind.
33% Bandard Cha or NJ.
PS
Bersing Drug Co.
104 Bokely-Vors Campp.
20% Budebaker Packard Corp.
78L (DWIN. C.
02 Tekan Co.
1915 to Water Now, O
15%. Twenty Century Fox Film
491 Union. Caspile.
Union Pacifié fallway
64
2 United Aircraft
100 US. Gypnu
DIN VA, Ling Co, CUB. Rubber 143k 379). Beeting
Don
#Dress Vin, Phild. Bi Pipe
No wonder he fell absolutely safe" in saying that "there is no subject which will attract more attention of the Govern- ment during the months ahead
then this.
London Express Service.
New York Sugar Market
New York, July 23. World No. 4 sugar futures to- day closed unchanged to three two pointa lower with sales of contracts.
Domestic No. & sugar futures closed unchanged with sales of 88 contructs.
Both Contracts continued steady under the influence of frm raw prices. Futures: Contract No. 4 (world)
September
October
Macph
C. Light (N) 22:30
22:40. – 2000 ( 22:40
INVESTMENTS
Yangtze Alliea
Singapore
Stock Market
Houston & Shanghai
Banking Corp Hongkong Tin Ltd. Femp
Rubber Estater“ itä
The standard contract closed
to 45 points beiher sades of 31 contracte.
Prkes moved higher on short buying brought covering and about by higher prices at the primary markets. Spot No. Rss was quoted nominally at 32% cents.
AMSTERDAM
The market was easier. Prices closed today hi guilders per kilo- jgram, cứt August as follows:
No. 1 rubber
SINGAPORE
2.52 buyers 243 buyera 244 buyers
3.22 nom.
The market was quiet today with small fluctuation and littic trade interest at lower Futures:
levels.
Nu 1 rubber per ib. AUR. 50-4-00
*
In the US the average price
of 15/10 midefling cotton at 14
spot markuta
P.OBIE.A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE.
Outwards "CANTON**
"CARTHAGE"
"CORFU"
"CHUBAN"
Leaves London
Salled
15th ́Augun
12th September
28th September
Das Hongkong
20th Augu
17th September
18th October
27th October
Via Southampton, Port Bald, Aden, Bombay, Colorabo,
Kumewards
"CANTON"
"CORFU" "CARTHAGE"
"CHUSAN”
Lo
Singapore, July 24 Brokers
today
quoted following stock prices:
Batu Limak Rubber Co
Berneo Petroleum Syndicate Consolidated tin Smelters
Ord. Fraser & Neave Ltd. Ord. Pres & Neave 7yysi cum
pref
the
No. 2 subbar No. 3 nubber No. 1 arepe
Opening
$1.50
02/0
Sept
194-90
Oct.
unqualed
$3.50
No. 2 rubber per lb. AUR
66-80a
No. 3
的咖
$905
No. 4
82.03
$1.70
Spot rubber unbaled
00%-90%
6,73
Blanket TEDE
71.72
$2.12
No. 1 nale Crepe
110-112
嘲
Via
11.73
20
$2.35
$1.47
Insurance
spot quoted at 25% pencz per lb. Prices:
嬷
2024-20
•
20-24-2515
90
Sept
2491-242
$2.07 Oct/Dec.
241-24
Mail Jan/Mar.
2314-21
Apr/June July/Sept
2321-24
23-24
General markets, elf basis, parts: Aus Scpl.
254-20 2515-25%
Estate crepe thin Aug.
33
Malayan Breweries New Serandah
Lid
Rubber
Petaling Tin Ltd.
Rates Hotel
Singapore Cold Storage South British
Lii.
Straits Trading Straits Steamship United Engineers Ord Wearne Bros.
• condiv Special
+ exdiv
China
LONDON
The market was shady with
£30.00 No. 1 Ras spot
$24.00 Bettlement house teren : $13.78 AUE
NEW YORK OIL AND SEED
New York, July 23 Prices of cottonseed oil futures closed today in cents per lb. os follows:
September Clato/ber Jerry
March
thick Anited Prom.
CHICAGO GRAIN| MARKET
Chicago, July 23.
The grain market was weak nt the end of trading on the 42 bades Board of Trade today, in cents
13.55-64
14.40
133
14.34
May
14.20
Jy
14.25
September
14.15
Sale*
Prices of cocon closed
3,28
per, ib, as followe
Tatt tentuure
3.20
September
3.30
epot Acgra
Bahls
Ventola
Spot-cents per lb. fob Cuba) 3.42
Soybeans showed the heavlest losses apparently due to lower prices in soybean oil and meal.
Demand was low in proportion heuso selling. commission
also accounted Hedging lowered prices.
Wheat closed off 4 to 1 cent; soybeans off 5% to 74 cents. Futures
Its
May
July
25.55 25.19
September
25.10
to
Contract No. 0
28.65
September
0.02
November
3.02
short ton, cit Pucifie
Cont;
5.01
May
861
Spot-cents per lb, et NY
ex-duty)
Boothy production," he said," how can the separate little nations of Europe hope to survive with-
874 | OUT
dut really close economic co- 48 operation? It is not possible, I say that there must be more than six nation participating; 32t must be Western Europe s
70
6246
20
50%
40
It
N
that
сал be
If
whol and achieved only on one condition
that we take the read.
bots we lay
down the terms the 01. Scandinavians will come in and them with our overseas terri- 404
shall havĆ the 441torics 471% eminence of an economic unit 30 which can stand on its own feet Band face the dollar area on what 68% I might call level terms."
2014
4816
Broad Hint
Monch
Copra was quoted at $147.50 a
coconut oil was quoted at 10% cents a pound, West Coast, 501 United Press. -United Press,
London Foreign Exchange
New York Montreal Amsterdam Irmanda Copenhage
Odo
Piaris Biockholm
zich
Othere
Sir Edward Boyle, Economic 017, Secretary to the Treasury, sald
Was Prom
the British Government
20
"hot" ruling out any possibili-
Wigs ties at all for the future."
New York, July 23. Prices of metal futures closed today as follows: (in cents per y
for
Вогароте,
FERADE &
Singapore,
28th August
Leaves Hongkong Due London
24th September 21 September 22nd October 19th October
31st October
Penang, Port Bald
Colombo,
19th November
21 Noventar
& Leadon,
FREIGHT SERVICE
"BHILLONG"dae 24th July
"ADEN"
Batis 20th July
9th Aug due
"SHILLONG"loads 18th Aug.
“SUNDA" due 18 Aug. "SALSETTE” due 23rd Aug. "SUNDA" load 11th Sept.
Hombay,
from UK. for Japan
from UK.
Aden,
for Singapore. P. Swet- Lezbem." Penang. Aden, P. Said, Havre, London, Hamburg. Rotterdam de Antwerp from UK.
from UK.
for Singapore, P. Swei- tenham, Aden, P. Baid, Havre Lon. Ham- brunt,
Rotterdam Antwerp
BRITISH INDIA S.N. CO., LTD.
1850 A HUNDRED YEARS OF SERVICE — 1050 "BANGOLA" due 10th Aug.
"ORMARA”
valla 11th Aug.
dne 13th Aug,
salle 15th Aug.
from Japan)
A
for Singapore. Penang, Rangoon & Calcutta from Japak da Bhungħani fer Singapore Rena
Calcutta Rangoon Chittagong
P. & O./B. I. JOINT SERVICE "ORDIA"
in Port saila 24th July
đuố 10 AU sails oth Aug. duo 4th Aug. sails 7th Aug.
Wheat, No. 2. red
"ITOLA"
dus 20th July Balls Sist July
Bpot
21314
Sept. 2101(11) 21546(E)"
210-4-41
NEW YORK METAL FUTURES
Nov.
21012-
Mar.
22011-
MAY
217%
Corn, No. 2, yellow
Spot
10015
Sept.
1404-4
"TIRIA" "UMARIA" “TKAUNĂ”
Nov.
130/1
duh lịch h walls 13th Aug.
140
Mar. May
14274
ib.)
Sept.
Load July
14.800
Nov.
13616-74 130*
Auk.
14306
Oats
Tin
Jaly
Sept.
Aug.
p.10b
Nov.
zide July Awe
19.040
Soybeans, No. 2, yellow
11.600
Copper July
31.856
Spot
Au
35.75b
Sept.
United Prem.
Nov,
13.10-12.30
Jan
-United
Mar. May
London, July 23.
2.70 7/16-2.7911
102475-10 100.00-130,05 19.34-19441) 11874-11.4175 30.9611-20,005%
te drew mitention to the diheully New York Foreign
of reconciling Britain's member-
Thip of a comm
a.common market in
Raveslope with, Ulio exist:
to
tho Com Ami ha
hinted
Irondly Integrations with the Chrada
Exchange
of Europe might not stop with England office
the setting up of a single tsirket.
Theab nito, ali “very resă, dit- Acules and Britkin eritrianidrin | Ash Xór the common market' achtine might not. kharpito thel
TH500
LONDON METAL
PRICES
London, July 23. Pricts of metal closed today In sterling por Fong ton follows!
New York,
rin społ
Eopper "pot
.00-day - Tutupa
Bouth Africa
ns
Byers sellers
746
Harley,
Spot
New York Dour
200 lb. mck
£-245
130-140
$13.00%
"Iniisited Press,
CHICAGO LARD FUTURES
Chicago, July 23,
·Prjobs of Iard futures closed *** (edday in cita per lb. as follows:
Bept,
Nov.
Deo.
13.80
**United Prest.
from Japan & Shanghai for Singapore, Colombo, Cochin,
Karachi. Basta Khorramshahr
& Kuwalk from Japor
for Bingapore, Colombo, Bombay, Bhaunegar
3 Karochi
from Karachi & Bombay for Japan
from Karachi
for Japan.
from Japan-
for Singapore, Bombay, KAYAGES,
Khorramshahr & Kuwait
EASTERN & AUSTRALIAN S.S. CO., LTD.
"EASTERN" dus ist Aug “NANKIN"
dus: 6th Aug. salle 8th AUE....
From 'Australia
From Japan
for Bendican, Brisbane, Sydney, Auckland, Adelaide & Habourne All véniels have liberty to eat at any párta 'on of off the route & the routs à sailing are subject to 'change of amendment with or without notice.
For Tall particulars apaly to: MACKINNON, MACKENZIE & CO. OF HONG KONG (TD. Telephone Nos: 27721-4.
*