THE · CHINA - MAIL,
WEDNESDAY, DECEMBER 19, 1956.
COMMERCE
TRADE and
SECTION
Continental Demand For UK HONGKONG
Gold
SOVIET BELIEVED
HOLDING FOR BETTER PRICE
By SIDNEY CAMPELL
London, Dec. 18. There has lately been some Continental demand for London gold coming from or through Switzerland. It has steadied the dollar equivalent to rather over 34.88.
The Swing demand is modest but clearly signifies that the present Russian offers of gold in Switzerland are not big enough to fill the whole marker They appear to be sizable bug her mit being pressed, and the Russian seliers are holding for wamething beiter Than the presenc Posters price
ugkomst
while on the other hand not all of the Russian gold has gone anto The Swiss National Bank. There is nothing unusual
transferabilc Nieri. itussio Sur ing Nearly all her gold rules in * s have been for that
Dollars mantency
tires
LOAN FOR INDIA EVENING UP ON
Washington, Dec. 15. The World Bank bad deckled to make $20,000,- 000 loan to the Indian Iran And Steel Company, rell- able
slated here tonight
JOEL PODE
to
The town is intended to enable the company carry out a bis expansion these sources programme,
kak-France-Presse,
WORLD RUBBER MARKETS
New York, D°e. [8. The No. 1 1 rubber Futures contruct tixday closed unchanged with sales of two contracts. Dember
3040
The x construct elmed 30 to aff podrals perway with salts of 114 contracts
190
Ja, ar Maryl May
1 low to her, except as a means nt buying European currencies discount. Transferable and most
string
first
These resumexi Rus sales of goki in Switzerland transferabile mering the such wales for sevmal entros
m:ticed first were November 26 In the thist haft of that week they were guessed
201 at about £1
worth They contritared to #EAR-A in transferabile
sterling
A1
ime when other types of alert- ing and marketa generally were
01 under severe prÖSSUER
Continuing
cheaper
Hurm's present gold males are much smaller than those which about aristenly Martedi at jubel
yeur 953 this time of the For the Brat Farme
in several voare Russia then appeared an a supplier of guld, and sold nearly
£30 million worth.
+22 ww occasion to, much of it
transferable sterling.
เร
At the sterling was obtained more drectly and some of the gold came
the Bunk st #1 Poland
pay for Russ
Kohi
obviate the need for the British authorities do support 11} TÈN came into last menailt
11
Some of the bott
ferable sterling (Swas purchase of it
End-Year Bills
The purpose of the 1953 sales was to raise money for Moscow billa to pay pressing end-year for the big importe of consumer the Malenkov
extends into this month a Russian offers of gold are cons
Rodds following and have been noticed tinuing again recently.
be
Their total to date may roughly £4 to £7 million, with some more still offered though not pressed. The recent jump of 63 million Swiss Francs (rather over £5 million) in the Swiss National Bank's gold stock only a rough guide since. the other hand, part of that gold came from other central banks, the Husain offers, now from
Is
On
EXCHANGE CONTROLS RELAXED
Frankfurt, Dec. 18.
Co
The Bank Deutscher Laender has further re- laxed West German trols on foreign exchange holdings acquired outside current foreign trade. Holdings affected are pri- those originating marily
gifts from inheritances, and property abroad.
The new regulations provide that accounts abroad, foreign Becurills, interests in foreign enterprises, real estate and un- coined gold must be declared. Other fortign exchange holdings acquired outside regular busi. ness transactions such as foreign claims coins and notes and
пред nu against foreigners longer be declared, however.
Foreign exchange holdings valued at less than 1,000 Marks need not be declared at all.
that The previous regulation foreign exchange acquired by individuals or companies in West Germany had to be offered to the Central Bank for exchange into Deutsche Marks has bežn Jified China Mall Special.
NY Coffee Futures
New York, Dec, 18. Santos "B" coffee futures 10- day closed 10 points lower to 10 points higher with sales of 117 contracts.
The "M" contract closed one to 60 points lower with sales of Su contracts.
Spot Santos 4s moved up 1/5 cent to 04 cents. Santos " closed in cenis per
follows:
J
Doc.
Mar.
May
July
Dec.
TU. 8
06.59
68.32
08.03
C4 10n United Press.
Exchange Rates
Budrions (we done in the local [ufsoffotal exchange. market thi morning at the following ratovim (U9) dollar - (per-43) zuzreiRAYAN is sterling, notes (per 41) jer, 1813 – Austen lány (moles, (per 2S). Sreenimised papielt) (pse 100)
15
19.00
policy and the East Berlin rials, The current series of sales cun only be more vaguely connected developments in with recent Poland and Hungary and with and hardships shortagea the
many which are reported from parts of the Communist world.
Moscow's credit to Poland, for example, is designed to pay for from Russia. Phish purchaLFRON
Communist countries Limes
di gotne
14 is not in sterling, though the
se sterling for their settlements with one another.
In general, the East European the from countries need and
Central Soviet economic system instead of being able
to com-
i tribute to that system. It is not
surprising that Moscow
ورود
September November Janunty
WALL STREET
New York, Dec. 18.
STOCK EXCHANGE
(From Our Correspondent)'
Business done on the Hang-
kong
Stock Exchange
this
moming amounted to apprend-
38 mately $372,000. Noon quota-
Wide irregularity marked stock trading the approaching four-day weekend holiday began to make itself felt.
Repeated attempts at rallying. reflouting the heavy backlog of favourable market news, failed
through
immlers GOTTY turned to realising and evening- up operations.
to
д
The close was higher-by 24 point in the general average--as a few strong special issues and But groupe bolstered the Ital
were far below the day's prices best. particularly in rats where virtually at early gains were pared, leaving that group up
23 point in its average.
Improvement, sparked
ave,
rellect
announcement that it may have lo refund more than $2 of profits if n regional board's findings renegotiation are cubstantiated in Washington,
Of the total 1,208 appearing on the Lape, $10 were lower, 422 higher, 270 unchanged with 22 al new highs, 58 at new lows.
Turnover dipped to 2,370,000 shores.
Closing averages เ Street today us follows:
in the session by higher 20 rails
carriers, the granted
out profit-taking
30.76-73
30.80
early rotes brought closing guiŋks.
38.40
35 DO
35.50
33.05
M4.45
Standard contract closed un- clunged to 40 points Ingwer with 14 sus pred
teen
Match
MIA July
New either
Biggest
36 40
30.00
3040
35-69
3505
34.85
amounted
to Vau point in es auch
tons and the morning's trans-
actions:
Khares BANKS
UK Bank
(01 IN ПОСКА, ЕТС K. Whart Dock Provident
Page 9:
LONDON STOCK EXCHANGE SHARES BACK
London, Dec. 18.
A lack of either good or bad news caused a general backing of prices on the London Stock Exchange today.
Traders left most of the blue chips alone and marked down a few of the nuclear and
sharea. Oll shares were irregu- Jor,
sted CHICAGO GRAIN
Buyers Sellers
Enst Asia
1345 244
Anica
20 e 1590
+
SHIPPING
Wheelockn
103
70 1000 1.03 100 40,00
shillings.
Reynolds
C. A. Parsons in the nuclear scetion yielded more than 1 *k
Was
about 3 shillings.
10
475
48 2000g 471%
100 3.00
duction sei n
In November.
Oils Up
LAND, ETC HTC Hotel BK Land Humplireys
Realty RUBÚRI
Wall Amalg
12
UTILITIES
- 1321
21.20 231
140
102 104
MARKET
Chicago, Dec. 18. Grain futures were ir
The sicel shares declined even | regular on the Board of 37461390 though total iron and steel pro-Trade today, with whoat
new all-time bigir
staging a rally near the end that brought prices up abova yesterday's close,
Early declines in wheat were Royal Dutch gained 5 full-caused by an increased produuc- ton estimate released Inte yes- terday.
1+ 70
เค
MI
192
1443
1:33 JA800 »4 1 52),
Trust Suneala
1771% 1.81
心
090 124.
sarial.
490 00
Tranı
1500 @ 2.30
134.
Star Ferry
15 etilen
67.39
53 stocks
173.00
C. Light 101
23 40 23:30
and
40 Don
Elect
J1 75
17
2000 ... 23 40 2000. 22
ings in the oils. Burman was
smaller amount. UT At
Anglo- Egyptium
lost "[]"
about a sbilling, while the other, were
wore
idle.
only
Comm. hatute prie index Comm, pot pitve index
102,00
Macro E
20
160.14
Telephone
Mouse
+40 00
IDF
24
IND
2314
INDUSTRIALS
Cement
Rope
375 38 12.00 13.50
STOHES, ETC.
$ 16
Dal v
12
Wales
15.30 13.30
13.20
2 15.20
* 15 30
Singers:
COTTONS
168%
Nanyang Xu
7
KW 730
INVESTMENTS
7312
La or up knall amounts Chinese and Czech Rections.
Dollar
Blocks reflected firm ness in Wall Street United Press
1213
8.30
500 9.40
as Baltimore & Ohio, New York Central,
Pennsylvania among
OLHETS.
Mainstay
Steels continued the mainstay
of industrial strength but even
here there were SOIK sharp Josses Lakens.
她 six-point
gainer on Monday, ran up m other 9, In 5107,
Bart of the termblul market
endred in beton enpost arben switching opera- Cements continueit in demand Hots, and exchanges of March
in the wake of price increases, Covering Gains ranged close to 3 points in for physical rubber
if the December General Portlan Oils und operations No 1. but
the the Text of
motors were inu dog the most Jower mürker was
in company
part, Letion's decline and re. with drting the continued pause in
factory domestic
buying in- Spot No Terest
1 Rss quoted nominally at 38 cerit
prand
Wi
In the stupment market, offered Indo-Chinu reportedly Jutitary one sheets at 30 cents
Ideas 14 with buyers pound
offered Thailand under. cent "fair" quantities of three sheets al
34 35 cents, fours at cents and fives at 33 cents pound, e and f
SINGAPORE
of
The market opened below last night's level on disappointing overseus advices and it" sagged further
Tack
interest. neglected were grades Lower and with only spasmodic buying.
Future closings were:
320-231 100-100 100-100 1055-700*+
No
i riber pet fis.
J Feli
No 2 rubber per ih Jan, No 3 rubber per i Jan
112-193
14-135
13-2 133-133
No rubber per 11 Jan. Spot her unbek
El
reto
No
U pale crepe
TC-
LONDON
strain by some
lieving this marginal additional marghal sales
Trifling
of gold.
with was "asy The market sput_quoted at 31% pence per 18 Prices:
No Rxpot ...... Settlement house term·
Feb
Mar
Apr June
July/Sept
Oct/Der
Feli
Flute repe thin
11ick
السلام
344-3214
In pureradta Lockheed gained a point while Douglas fell nearly
Syria After Hard Currency
London, Dec. 18. The
Board of Trade understands that payment in respect of imports into Britain from Syria will only be accepted in sterling by the Syrian Exchange Control if the contracts concluded before were November 4. For later con-
authori tracts the Syrian
ties require payment to be made in United States 315-32% dollars or Swiss or Belgian 314-30
francs.
31!4-31. 3044-31 304%-30%
31-32
or
As regards these currencies, General markets, vil basis, however, importers should note the that the permission unquated United Kingdom Exchange Con- United Frem. trol is required before payment
be rando and they warned that permission is un- likely to be given.
The sales are trißing in com- parison with the unconfirmable German and guess by some American experts that Moscow has a gold stock worth $7,000 million and an annual output of $420 million,
1 Moscow really has any such gold resources, the wonder
allowed the hardships to than it reach explosion point in Poland and Hungary, when it could zo by colleved them easily bave
Washington, Dec. 18. The Federal Reserve Board's spending a tiny fraction of the on massive alleged gold stock
goods Index of industrial production is Imports of consumer
147,-United Press. China Mall Special.
is
US INDUSTRIAL INDEX 147
New York Cotton Futures Slow
New York, Dec. 18.
Minor price changes accompanied
trade in cotton futures today.
A
can
arc
from Syria are All exports subject to export licensing cơn- being trol, but licences granted without difficulty.
are
Allied
Closing Prices
Chemicals
All Chimera
Amer, Forge Power American Mulai American Smelling American Tel▲ Tel.
American Tob "B
Anaconda Copper
Arimo Steel
Annour
Makimore & Ohio Bethlehem Steel Canadian Puctile I Chrysler Motors ("lax Molybdenum
Cigate-Palmolive Co. Carimolidated Edison Crown Zellerbach Cuban Amer. Suger
Diamed Alkali Dupont de Neinatas Esetnian Kodak General Electric
General Foods
General Motors
Glidden Co..
doodyear Th
Heyden Chemical Ingersoll-Rand
Int'l Business Mactunes Ini Harvester
Internaugnet Nickel [-man Tă; & Tel.
Kennecott Copper Lockheed Aircraft
Loews Incorp.
Lone Star Cement Co Montgomery Ward National Cash Reg. "A" National Lead...
New York Central
Olin Mathieson
7.
Allied KK & E
Invert
Buying by commission and Increased
exporta for the rally, responsible The larger crop estimate alu caused selling in corn with only Suez Canal continued strong, limited buying interest reported. 500 gr 24.00 gaining to £53.
Traders said
many stoop-lona orders were uncovered.
Oats went lower in sympathy with corn, while soybeana de. eilned Carly on commission house seiling orders. The market rallied somewhat during later trade on higher prices in oil.
Wheat closed up to 1% reply; soybeans off 1% to 1% cents.
Singapore
Stock Market
Singapore, Dec. 19.
today quoted Brokers following stock prices:
13%) Batu Lintang Rubber Co. Lia. $1,77 97 Brille Bottico Petroleum
British Governments WDTA active, but closed mainly un- changed.
Foreign liens were either idle
NEW YORK METAL
PRICES
GRAIN PRICES Prices per bushel in cenis; Wheat, No. 2, red
24172
Ярог
Dec. 2383,(H) 23TİŞİLİ – 22812
New York, Dec 18. Prices of metal futures closed today in cents per lb, as follows:
Mar
May
July
Sept.
2904
Lead Dee
LA 40%
Corn, No. 2, yellow
Jan
10.2016
Spot
127-1371.
Tin
Dec
100.124 (standard)
Dec.
1314-26
the
Jon
100.12236
Mar.
1353
Zinc
Dec
110010
May
1571-130
Jan.
13.30b
July
1401%
Opening
Copper Dee.
12.188
Spl
1975
53.056
Rye
Tin
Jan.
10116 1 (Strat)
400
Syndicate Consolidated
49/0d
m
Smeltere
10414
Ord
30%
Fraser & Neave Ltd. Ord,
20/04 $7.28
Feb. b-bid, n--nomina).
Doc.
14036-1%
100.251
MAT
14615-3
-traded
Dats
United Press.
Dee
717-50
20346
Framer & Neuve 15%%
cum.
Mar
77
Ba
prof
$4.00
Soybeans, No. 2, yellow
LONDON METAL
Spol
24720
Jam
20075-1
Mar
249-241
May
2014
July
38014-15
Sept.
Barley
Spot
24094
130-145
New York flour
Buyers Sellers
200 1b
nock
705
797
United Pres
7971
油
271
3714
271
¡15
11521
Mar..
114%
Zine and half De
1021
103
Mar
03
971
United Prem.
1,00
Gaminens (Malaya) nited $1.98
Bangkong & Shunghat Banking
Corp.
Hongkong Tin Lid
17% Kempas Ltd...
34 401
Lunaw Rubber Entales Lici Malayan Breweries
499% | New Serandah Rubber Col
$3,34
PRICES
London, Dec, 18.
Prices of metals closed today
in sterling per long ton as föl- lows:
$340
12.20
(1.62
$2 07*
Os Elevators..
Pacific Gas & Elec
$2.301
Pan American Airways
10
Petaling Tin Ltd.
Paramount Pictures
28
| Kafflem Hotel
$2.35.
Parke Davie C
Singapore Cold Storage
31.53
Ti apot
Boul British
fremurance Co
3-month
140,
Lich.
Straits Truding
3-month.
0116
Steamship
33%
United Engineers Ord.
191
Heartie Brom.
37%
div; Curv
-China Mall Sperial.
Penn. Salt Ca
Radio Coporation Sinclair Of
Republic Steel
Socony Mobil Sleep Rock Toruntoexi Standard Brands
Standard Oll of Cal
Standard Oll of Ind
Standard Oil of NJ.
Studebaker-Packard Corp.
Swift & Co.
Texas Co.
Union Carbide
Union Pacific Railway
United Aircraft
11.9. Gypsum
U.9. Rubber
U.S. Smelling
US. Steel...
Warner Bros
Westinghouse ECT.. Woolworth
10
43%
--United Press.
New York Sugar Market
New York, Dec. 18. World No. 4 sugar futures closed today 1 to 6 There have been reports that points higher with sales of Syrian dock labour has refused to load British ships at Latta-966 contracts. kla, but exports from Syria to Lebanon and onward shipments continue without from Beirut difficulty.
IMPORTS DROP
The latest available statistics show British imports from Syria have dropped sharply this year compared with last year.
Total Imports so far this year slow were.
million about £1.8 against £4.9 million in 1956,
NEW YORK At the close the list ruled off 4 to 27 points net The market Prices of futures closed today opened unchanged to up 6 points. as follows: New Orleans closed 4 points lower.
Trickling amounts of liquida- tion, plus hedge-selling and New ; Orleans offerings kept a routine trade - demand over-supplied most of the time.
Spot
Dec.
Mar
May
July
Oct,
Dec.
May
34.Lan
23.02-03 13,80
271.90
32.94
NEW ORLEANS Interest centred mainly on Prices of futures closed today,
New nearby deliveries.
crop as follows:,
months were relatively neglected
traders
cautious
became extra- before the halldayti and reflecting uncertainties over government rotten polley next year...
Dec.
} May
SAO PAULO The slackering rate of loan Future closings, in cruzeiros entries suggested tothi 1936 3m- per iclo were as follows::
ungugled poundings, máy run below the March
May proportions originally expected. This raised a questions of how | Öokobe much "free" cotton may come on · Decembe | the market hereafter, in the form
or hedge-rolling=
Brico was
The cortiflented stock 'remonii" | totalled: 120 od at 2,954, balen.
·Press.
apat
The måla import item was cotton accounting for a total of £1 million so far this year,
British exports to Syria this year so far have totalled £0.9 million against £7,5 million for the whole of last year-China Mall Special.
Domestic No. 0 sugar futures closed 2 points higher to 3 points lower with sales of 16 contracts.
re-
$20.30
1350 Copper pot
$15.00 Lead 2nd halt Dec $2.70 $300
Trading Holidays
Over Christmas
London, Dec. 18.
The following holidays will be observed in world trading centres over Christmas:
DECEMBER
$13.400
New York Foreign
Exchange
New York, Doc. 18.
Closing rates were:
Canada
$1,04-11/32
England official'
2.78-13/10
30-day
futures futures
ARTTES
2.75-18/10
223-1/10
377-13/10
279-3/16
2750
90-day
Australia New Zealand Bouth Africa Uruguay India Pakistan
2022 2094
United Prens.
NAMESAKES
Answers---] Injustice, 2 Samson, 3 Delilah, 4 Salon. 24-In The Atrien, Sweden, and Switzer-| Parliament, & Paradise, 7 Blind- United
Kingdom, the foreign land.
new, 8 Nativity, D Royalists, 10 exchange market will observe Normal truding Lat Japan Regained. normal trading. The following and India,--China” Malt Special, |
John Milton are closing carly: London Stock Exchange,
Exchange, morning session only, Baltic Exchange, morning session only. Liverpool cotton and grains, morning session only. All other markets are closed.
Metal
In the United States, normal trading in foreign exchanges. Closing early are the New York excuttonseed, soybean oil, tallow,
Strength in world futures flected commencement of pected German buying of rows
from various producing coun-
A NEW COMPANY?
pepper, Chicago grains, soy From the word "CO"
beans and lard futures. The tries Dealers estimated Ger-
following markets are closed: many purchases at 25,750 tons, Wall Street, New York Coffee mcluding 15,000 tons from Peru and Sugar Exchange, New York Exchange, New York 8,000 of Cubans raws via a deal Cocon with Yugoslavia: 2,000 tons from burlap, hides, rubber and metal Colombia and 750 tons
future, New York and Now Surinam, Dulch Gulania.
Orleans Cotton Exchanges, New York Wool Exchange and the
Youk
Mercantile Exchange.
from
Tomorrow, Germany is ex- pected to take a large blocks New trom Cuba and the Dominican Republic, Futures:
Contract No. 4 (work)
Canada
4.82 In Canada, the Montreal and 430-22 Toronto stonk exchanges are closed, Winnipeg graing market will be closing carly.
March
4.83
May July September ALATCH
NY Oil And Seed
4.49 Spot (cents per in, fob Cuba) 4,85 Contract No,
16.30.
March New York, Dec. 18. Prices
Dil May of cottonseed futures closed today as follows: July
September in cents per M.)
Spot (onta per lb. clf NY
(ex-duty)
5,72
15.30
·8.20
5,80
36.93
Hind Pros.
15.28
July
15.22
Bept,
15.80
10.08
Dec.
15.25
Cocon Nices in 'cents per b.
were:
Dec
Boyba itet"| 14%" cent
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From Articles of Association, Share Certificates to Letter Headings and the many other essential items, consult the Printing Department of the South China Morning Post, Ltd.
Is other countries, afl markets. are closed in Australia, Braxli, Italy, Portugal, Sweden, West Germany, France, Swit- zerland and the Netherlands,
DECEMBER + 25——A1). the principal world markets are Call in at any time,,
and examine specimens
oloped.
DECEMBER ·20min: the of quality printing which United Kingdom, ali marketee shall be proud to slow
In closed.
the United Stales normal trading, also in Canada
STO
LONDON SILVER PRICES
London, Dec. 18,
was quoted In other countries markola for potato' ?/closed, Int Australia, for Abrward (against Denmark, East. Alcica, West -Germany," the ' · Netherlands, (ak perče previously)
Italy, Norway, Singapore, South
Möming Post Building
Printing Dept.