THE CHINA MAIL, THURSDAY, JANUARY 24, 1957.
U. Page
{
TRADE and COMMERCE SECTION
New York Cotton
PARIS FAIR Egyptian Economic Plan HONGKONG Futures Trading
TO BE HELD
NEXT MAY
Paris, Jan. 23.
A record number of more than 13,000 exhibi- tors from 40 countries will take in this year's Parla fair to be held from May 26 to Juno 10.
In-
The French nationalised dustries gas, coal electricity, und
to atomic energy — are
concerted atuge n
display of French power resources,
In the international section, n United States "atoms for place” exhibition will occupy separate pavillon, while marut o delling rigs and a wide range of Halian and Viet- namese proiicts will Occupy national pavillons.
1
Big Spending
By Canada
Oltowa, Jan. 23,
A near retord spending by the Government during Cartscan the coming firent year was in- dicated
In iis
main 1957/58 estimates tabled in the House of Commons,
of
The Finance Minister called on
on outlay Ru-Parliament for
$5,220,186,000. The all time re- eord for Federal spending was $5,422 million in the 1043/44 wür
The other foreign exhibitors, cany, the
including West
East German Chamber of Com- merce, Orerer, Hungary, Mexi co, Poland, Sweden, Czecho- slovakia anch Urukuay will show in the main exhibition hall. Bel кішп
Luxembourg and the Netherlands are sharing a Joint
Benelux" stand.
The Parls
sponsored Jointly by the City's municipe- Iity and the Paris Chamber
oi Commerce-China Mail Special.
fair la
Exchange Rates
Buds was done in the local tomicial exchange sparkei lfi sworning at the following ratente
Us. dolar (per 11).
Veur
The peacetime high was
$4,705,536,000 for the feat your ending lust March. China Mail
Special.
Manganese Concession
New York, Jan, 23. Vanadium Corp. of America has been granted a large addi- tional manganese concession in Northern Rhodesin, it was un- nounced today.
i
Arch
407
Sterling nules per £1).
16 10
Australian nates (por C
1360
indonesian rupiah (per 100)
10.EKJ
Siam fical (per 105
27.03
Singapore Strait
1 80
The concession, to be known as the Chili Enst Manganese comprises about
2,480 square miles and is located near the 200-square-mile manganese
oneession
by purchased Vanadium in September 1955..... Unlled Press.
WALL STREET
OUT
WIPES EARLY LOSSES
New York, Jan. 23. Stocks managed further improvements which erased the final traces of Monday's loss but, except for special groups and issues, the gains were far from spectacular.
The market took in its siride President Elsenbower's economie report is about what had been expected, anticipating continuing prosperity but warning of un- certainties of the International situation, pressure of coste and and prices and the nwney market.
In the main, trading was routine except for a few select- ed Issues such as Peoples Gas whose 7-point spurt to $178 helped lift utiles .68 point on average to their best level since August 17.
Industrials as a group average- ed 2,44 points gain. Gains of a polut or more
appearing in American Smelting, Bethlehem Steel, Eastman Kodak, Du Pont, John-Manville, Standard
of California.
Shipbuilding
Shipbuilding shares continued
to meet demand with gains of around 2 points in American und New York, over a point in Newport News and Bath Iron Works
Motors were firm, Most steels also wore
firm.
Case (J. 1.) Co.
Cat Tractor
Celatiere Corp
c. 7. T. Financial Corp. Chase Manat, Bank Chrysler Motors Cha Molybdenum
Cheate-Puttollve Co.
Commercial Credit
Omuronwealth Elec.
Colidated Edison Continental Oil of Del,
Chune Co........ Crown Zellerbach Cuban Amer Dirmond Alkail
Sugar
Dow Chemicals Dupont de Nemours Eastman Kodak Family Finance Com. Ford Motor
General Electric General Foods
Gmieral Motors
Gich. Pub, D.
Getty Oll
Glidden Co
Inland Steel Co
Int'l Business Machines Int'l HarveBLETE Internationa) Nickel International Paper Int'l Tel Tel John-Manville Ce. Kansas C. Power & Light Kenhreat! Copper
Liggeli Meyers Tob, Co. Lockheed Alremit
A number of Loews Incorp.
specials rose around 2 points or Lone Star Cement Co.
Couisville & Nashville R.
more-American Sugar Rein-Lowenstein & Sons,
National Supply,
the
Beester,
10
100%
404
6512
47
4014
Outlined FBI REGISTER
GOVERNMENT
WILL DIRECT
PRIVATE ASPECTS
PUBLISHED
FOR 1957
"FBI
STOCK EXCHANGE
(From Our Correspondent)
Stock
and
Business done on the Hong kong
Exchange this morning amounted 10 ap proximately quotations transactions:
whares Buyers Sellers Bales GOVT. LOANS
(1963) 8712 FC Bank
Wheelock
Register of British Manufacturers 1957," 29th
Edition. Published November 1956, 35 For Cairo, Jan. 23.
the Federation of NKS British Industries by SliPPING The tasks of the new Egyptian Rolly's Directories D
andpocks, ETC. planning authorities, the Supreme Council Limited, and fliffe
K. Wharf for National Planning and the National Sons Limited, Dorset Dock
Provident House, Stamford Street, O Planning Committee, have now been London, SE1. Publication LAND ETC.
price 42 (post free). Size outlined by Cairo radio.
91⁄2" x 72". 1,124 pages. Bound full cloth.
WORLD RUBBER MARKETS
"The Supreme Council for National Planning will be con- with setting down the med Stute's economic and social ob- jective, and upproving the plan for economie promotion in its various stages. Each stage of the national plan will includo a group of mreille projects and programmes which will require a fix
fixed number
of years to complete. These stages will be
New York, Jan. 23. divided into
plans Annual
The rex contract today closed which will show the State's
eurees, the manner of their 45 to 100 points. utilisation.
the means of execution, and the programmes May Ind projects which may be July nicoded in directing the pro-September
the Kress of
This November
January counel will remplace the Plan- ning Committer
economy
January
March
"So for the general outline of the
hos plan
been set down
In the July
31.40 31 30-30
30.05
30 35-40
30.00
20.76 20 33
31,40
30.03
20.40
30.00
29.75
20,33
Remains Quiet
New York, Jah, 23, Cotton futures today held on an event keel around the previous closing levels in another quiet session,
In
$274,000. Noom Foreign commission house March partially the morning's | selling
against purchases or March and May, supplemented some March spot house buying in against sales of May, supposedly 875 for mill transferring.
Closing at note of Armes, the list ruled unchanged to 9 points higher. Opening prices were of 2 to up U points. Nearby March reached 34.54 cents
the close, setting on
May also
50.000
1028
1.70
DX
6.30 3000 0.73
го
13.10 13 100 @ 13.20 now seasonal
14.00
10
200
500
Rently
RUBBER
0316 IM 18.20 1.321
Amal
in the
Trust
1.50 1.321 1.00
UTILITIES
Tram
HK Hotel..
HK Land Humphreya".
high
4
reached a new peak at 34,55 conta a pound. New Orleans closed unchanged to up 3 points,
New outside
speculative
Interest remained dormant
July/Aug. Oct/Nav
New contraCI
Mar/Apr.
May/June
July/Aug
Dot/Nov
Dec/Jan.
Egyptian Karnak Jan/Feb,
SAO PAULO
Future closings, in cruzalnos per kilo ware as follows:
Feb.
Star.
MAY
July
Oct.
Dec.
In the price Was botalledt and Press.
Traders were more interested the stock market action 23 23.40 200 23.20 Auctuations in other commodi- 102 101 100 103
Lies
pending new
incentives 23.20 2330
2700 23.20 directly affecting cotton, like the
31 31
1107 31
24.10 24.30 500
24.30 interim loan rate and congres- 2015 300 23.40 slonal developments on form
Elocirle
goods.
Tel. (0)
Tel (N)
of
INDUSTRIALS
Cement
3815 12.00
30
100
"One esential factur increase of Britain's inter- national trade is the dissemina- Youmati tion of the widest possible, C. Light (0) knowledge of the range British manufactured This 题 constant concern the Federation of British In- dustries, and the publication of the FBI
Register, now in its 29th edition, is one of the ways in which it seeks to help British manufacturers to sell Their goods."
In these words the President
of the Federation of British - Sir Graham Haymun dustries,
of introduces the 1957 edition the FBI Register. This com prehensive and accurate guide to a substantial cross section of
the British industry lists ducts and services of over 7,000 member firms under more than 5,400 alphabetical headings.
pro-
Rope STORES, ETC. Dairy COTTONS Nanyang
Watson
30% legislation.
Other quatters felt the actual
And
US the
Katiqlalaki
38.80
average spot 93,46 corts Sales 23,344 bales--United
NAMESAKES
Answers:-1 Horses, 2 Denti-
som Ouding factors had been stry, 3 Cireult, 4 Victorious, 6
15.30 13.40 300 a 18.40 and 13,70 14.10
7.00
CHICAGO GRAIN
PRICES
Chicago, Jon. 23. Wheat closed up 4 to cents; soybeans up 4 to 4 cent. Prices, all in cents per bushel, were as follows:
The standard contract closed 45 to 80 poin's higher with no sales reported. March May work has begu
September five-year plan in various public November
ad private
aspects. The JanuaTY Government will take over the Steadier ruling of the terminal Public aspects. In the private market was considered primarily aspects the government's role # technical rebound following
In addition to the will hone of guidance, to the recent stump to seasonal safeguard the people's general low prices, but some technicians Buyers Guide there are seven Mother sections in the Register, Interests, by studying the pro- were unimpressed, particularly
of Companies ry giving addresses jrets and assisting in financing the coterie which expected cur- and Firms, and valuable in-
rent levels To attract a much formation about Trade Associa- Corn, No. 2, yellow them."
broader consumer demand. One
trade tions, proprietary names, commentator thought prices
marks, etc. A feature providing eventually, will approach the 26
a useful reference for buyers cent level.
not fully convenant with Bri- tish product terms, is the French, These give translations of every German and Spanish glossaries,
product term used in main
the buyers' guide, each being num- bered for easy reference tween the English headings and their transitions.
Promote Economy
Small sales to consumers in- cluded
zome
March delivery bark at 25% cents a pound. Spot | No. 1 Iss was quoted nominally
at 31 cents.
SINGAPORE
"A law was promulgated on January 13 for the creation of ht economic establishment Intended [v
the promote national resnomy through rom- mercial, industrial, agricultural and financial ectivity. The estab- bment will act for the Govern. ment a stalding and supervising public establishments in a men- per ensuring the interests of the
In the afternoon national tronomy, and in laying down the programmes which will ensure the regulation of
participation
45
12214
314
54
247%
E
government
រ
tions. The
BC
public and private
BB
4211
455%
of its funclu. ment's
in
catablishment
crganish
will
"Thin
also set down a policy for the investovní
management and
establish capital consists of 4614 Government's share in The joint-stock companies
ان
The market opened easier on advlees disappointing overseas but steadied surply
on short covering.
was business.
Irregular
Spot
Mar.
May
July
Sept.
Nov.
Ryo
2443-4512
Cxplored and that entirely
new influences will have to materialise to get the market
out of the recent trading rul
In the President's economic nus age
to Congress, interest centred on the disclosure that Agriculture
Secretary Mr Benson is Investigating possible; revisions in the parity formula. The present formula, the Presl dent said, is clearly out of line by any economic standard.
Open March contracts at the start of trading today totalled 242,500 bales, First notice day will be February 21. The eeril- fcated stuck remained at 2,984 bales.
Volume Open interest
8,000
22,000 1,122,100 Bates
NEW YORK
Prices of futures closed toxiny
7 OTHER SECTIONS
Wheat, No. 2, red
Classlied
Spot
Mar. 241141) 2402(2) 241-3 May July
Month
Sept.
2724%
Mor.
242,500
May
Nov.
235
6,700 415,100
July
1.000 157,400
Oct.
2,000 148,700
Dec.
2,400 103,100
Mar.
1800
35,400
13045
May
100
20.100
134-135
July
100
1,000
1382
Total
10036
1334
as follows:
Mar
14814
bc-
131
Spot
May
Mar.
May
Osts
July
Oct.
As the only authorised dir- ccttry
Federation of the
Mar
Dec.
May
Mar.
of
May
July
2324
29-414-252
by by colla-
May -July
2541-
Prices of futures closed today
2011.
Sept. Nov.
Barley
Spot
241
as follows:
2354
Spot
Mar.
May
July
130-140/
ક્ત
Dec.
New York flour
Mar.
May
July
$13,401
United Press,
the market British Industries-the largest Baybeans, No. 2, yellow
little and most influential association
Spot
with
There was some factory in- terest with more enquiries for lower gracies. Futures; No. 1 rubber per lb. Feb.
the
No.
No. 2 rubber per ih. Feti NO.
Mar
00%-DIA BR-RO 0716-82
54-85
821-Ba
Spot rubber untated Blanket crepe
951-00
75-77 103-107
the capital of public induses
No. I pale crepe...
LONDON
The market was steadier with spot at 20 A pence per lb. Prices:
of British manufacturers-the Mar. FBI
to complied Register s the publishers in close boration with the Federation. It is in constant use by importers,
Trade Commissioner buyers, Chambers of Commerce,
Com- Altaches, Reference mercial Libraries, Departments of Trade and Industry etc., throughout the world,
Singapore
Stock Market
Singapore, Jan. 24,
Datu Lintang Rubber Co. Ltd. $1,02 British Borneo Petroleum
100 ib. sack
WINNIPEG GRAIN PRICES
Winnipeg, Jon, 23. Prices of grain futures closed today in cents per bushel as follows:
Oli
Goodrich 10. F.) Co.
70
Goodyear Tro
pand in 702
Heyden Chemical
14
establishments whose
Hommake Mining Co.
37EP
include commercial,
Ingersoll-Hand
1
agricultural arid agrarian
611
activity. An order will
be
37%
10
Issued by the President of the
1014
ment's capital
Republic fixing
the establish-
No. 1 Ran opot ...
Settlement house term:"
2012-2011
Feb.
2014-20‡a
472
1105%
0745
2116
work.
301
"To achieve its objectives the establishment may, set up com- mercial, Anuncial, Industrial, agricultural or
com- agrarian pantes or organisations. It may
Feb. Also contract Toons from the Mar. BIG Government or banks, end issue Estate erepe thin Feb.
bonds to obtain the funds re- quired for its also establish joint-stock com- panies.
Mar.
July/Sept. Oct./Dec.
Apri/June
2014-201 20-2615
Oats
MAY
254-25%
Jan.
General markets, eit basis, ports:
20-2014 2572-2015 2534-201
Brokera Lodiny
quoted following stock prices:
the
July
Ool
Ryo
Opening
May
July
It may
thick Feb.
AMSTERDAM
2014 31
Syndicate
51/04
Oct.
1341
Consolidated
Singltern Tin
Barley
Oni.
30/03
May
10414
The
Fraser & Neave Lid. Ord merket was steady, Fraser & Neave 7% cum.
pref. Prices closed today in gullders demmons (Malayn) Limited $2.06 per kilogram, cif" February as Hongkong & Shanghai Banking
$2.35
July Oct.
10136
21.00
Flaxseed
MAY July
30046
300
follows:
No, rubber
2.54 buyers Kempas Ltd.
Corp. 2.30 buyers tangkong Tin Lid
$370*
Oct.
20013
B/9d
Wheat closed at 161 cents for
$1.30
No. 3 rubber
2.50 buyers
Lunas Rubber Estates
0.00
No. I crepe
2.05 buyers
Malayan Breweries .....
Unlied Press.
$2.00
United Prein.
New Serandna Rubber Co.
Jald.
pillars
of
Puling Tin Ltd.
Raffles Hotel
$1,36
Singapore Cold Storage
$1.03
$32.50
$20.70
20.10
11.40
Copper Merals Iran com.
0. A.
Minnesota Mining Stores, Coter Misic Development
Monsanto Chemical Co.
Sengrave,
Smith, Safeway
piller Tractor, General Portland Montgomery Ward
Cement, Zenith,
Motorola e, poke Nasional Cash Reg. "A"
Of a total 1,100 haues appear-National Dairy Prod. Ing, 910 were gtr, 201 lower, National Lead
unchanged with 10 at newNational Steel Corp.
New York Central Olin Mathieson
247
high, 11 at new lows.
New York Slode Exchange Otis Elevators bond volume was $4,050,000. Owen-Illinois Glase
Amet lean
Pactile Gas & Eleo.
Stock Exchange Pan American Airways volume was 850,000 shareR,
Paramount Pictures
Dow-Jones closing averages Parke Davis Co.
were:
30 indirimis
20 talle
10 tilltin
03 slocks
40 bonds
Comari. future price index
Comni, spol prics index Moody's Index
Closing Prices
Akten Inc. Aey. Killed Chemicals Allied Milk the.
All Chalovers
American Airline
Am. Cable de Radio Chep.
American Cyanamide Cô
Am. & Forgn. Power
Am. Mácti & F'dry,
Ainerinan Melat
Anterlean Smelting
Am. Sugar Ref.
American Tel &
American Ind., "D"
Anaconda Coppar
Armed Steel
Artpour
Alan Cont. Mining
twin-Lima-Flom. Pitimore & Ohio Bendix Aviation Corp.
Hengst, Cona.
Bethlehem Bizet
Boeing Airplane
Borden (The) Co.
| Burroughs Adil Machine
Canadian Pacifs. M. ....
Penny J. C. Co, Penn. Ball Co.
470.03 Phillp Morris
150.17 Procter & Gamble Co.
10 29 Pittsburgh Plate Giang
170.12 Publicker Industries
90.11 Pure O****** Radio Corporation 160.33 103.35 Republic Steel, 4300 Heynolds Matal
$191
321
30xd
Shell Oil Co.
Saint Reg. Paper
Sinclair Ol
Socony Mobijoll
Bouth Puerto Rico Bugar
Bouthern National Gar
Southern Hallway (Com.)
Bleep Rock (Toranicex.)
3415 Standard Branda.
11 Standard Oil of Cal.'
154
33
Standard Oll of Ind.
$16ndard Ol of NJ
Storting Drug Co.
Stockeiy-Van Catnip.
273% Studebaker-Packard Corp.
Bwift de Co....
3514
Texas Co......
17123
Twenty Century Fox Film Union Carbide ............
Union Paolo Ballway
United Aircraft
U.S. "13"
AUB Clypeum
145 | UB, Line co. 11.1 11.8, Bubber, e 03%) 128. Fe
1000] Warner Bros.
Westinghouse Electric West Va. Pulp & Paper Woolworth
30
Implement Provisions
"This establishment has been implement the created
to
45 economie provisions of the part 17% of the constitution dealing with
the fundamental
2014
404
714 society. This will bring about the public undertaken
No. 2 rubber
AS harmony betweer London Motor
4244 | economic activity
by the
Government and the
private economic activity of
ant
во
41
will carry out
the programin
al
0121
34
Individuals. This organisation
to be approved by the
ment in the national planning
43 programme for the first ive years 28 far as privato capital is con- cerned, and will see to the pro- participation in the 401 glamme's
implementation of the economie promotion plan."-China Mall Special,
1
Stocks Rise
to
London, Jan. 23. Prices continued favour_the upside on the Stock Exchange today in quiet trading.
South British murance
Ltd.
Straits Trading
Steamship
United Engineers Ord, Wearne Brow
13.03 amily-China Mail Special.
London Foreign
Exchange
2.7912-2.70 15/10 2.080/16-3.50 15/16 10.00 3/7-10.47 19.30 -10.401 11.74 6-11.74
DUST-48032
No. 3, and 140 cents for No. 5.
New York Sugar Market
New York, Jan. 23. Work No. 4 sugar futures closed unchanged to B points lower.
Domestic No. 6 sugar futures closed 2 to 6 points lower.
Activity stackened in both marlucta de traders awalted raw market developments while they consolidated market positions following the recerii serien of
wide
advances art declines. Futures:
Contract No. 4 (world)
Mar. May
14.50 41-14.50% 18.27-12137
Ju
Supt.
United Premi
Mar.
MAY
London, Jan. 23. Closing rates were: Ford Motor and Rolls-Royco
New York Montreal Amsterdam rose che shilling, sixpence, and Woolworth one "shilling, throe- Copenhagen prince, while most other bitin Frankfurt Bom, Jan. 23.
Paria West Germany's export sur chips moved up from sixpence Alockholm
Zurich to a shilling. pins which rose to almost 2,900
however, droppietă | Obere were unchanged million marks last year, was
thele shillings, whils moro
than double the 1955 overni
polition! counterpart, Buc ngures, according to the dovert-Coal, held unchanged. Mant's Office of Sindlatice.
Foreign bonds were mixed. Among the German Export incrcct to 80,654 Dawn Loun not-assented top
BRICE, million indrider in 1980 nom pod £1, and the Young Loa 28,717 millon marks in 1958 and and seven per cont, Foasts tell. Imports rose to 17,901 billion 21. Japanese non-asenied' marks from 24472 million 1010s and 1924s moved tip marka.~China Mall Spacial. £ ---United From:
New York Foreign
Exchange
NEW ORLEANS
LIVERPOOL
Futures closings, in
per lb, were as follows: Old contract
Mar/Apr. May/June
14.000
34,54
34.53
3422
33.00
74.43
54.02
223
34.40
pence
Cylinder, 6 Fenarl, 7 Engine, G Jaguar. 0 Mesorali, 10 Good- wood. 11 Mercedes, 12 SHI,
Stirling Mega,
Whorover
you'ro golaÿ»»«
EUROPE
USA
ORIENT
ROUND
THE
WORLD'
You can fly there où the world's most oxperienced airline
For reservations, call your travel agent se Alexandra House, Phone 37031, Hong Kong
Peninsula Hotel,
Phone 64005, Kowloom
Pan Anarioak World Always, Int., Balnépieračná ta the State of Ham Tark, Col. 2, with Metal Mobily
*** PAN AMERICAN
EXPRESS ANNUAL
'
130 0.30-33
* 031
0.31-73
0.10 06
6.44
from
Spot price itcenta,per. i. Contract No. 13 (doen
May
July
. New Yothin 2.
-Hegit..
Closing rates were:
Portal
**10: 1.04 7/82
173 contracte.
Spot
2.00 odletal
United P.
Canadia
conta per :i
United Press.
$10
South China Morning Post Ltd.
HONG KONG & KOWLOON