THE CHINA MAIL, THURSDAY, MARCH 7, 1957.
TRADE and
COMMERCE SECTION
MOTORS HELP Land Development Is Big New York Cotton
WALL STREET INDUSTRIALS
New York, Mar. 6.
Stocks came up sharply on increased turn- over in final minutes of trading to climax an irre- gular, routine trading session.
by
Automotive shares, paced Chrysler, led the upsurge demand stemming from a state- mant by M.C. Patterson, Pre sident of the company's Dolge Division, that the auto industry will sell 6.5 million ents This
erninst 5,0 year
inillion Le 1936.
Strength in olors helped other sections of the industrial list and ເດ
nets showed good gains in the automotive suppller, chemicals, metais, oils and numerous special issues,
Industrials closed up 1.99 in their average to 474.87, utilities managed rise of 13 point to 71.41
most (19
issuts small amounts bui rails were unable to pull up and closed .82 point lower at 143.32.
Plistnirgh Plate Glas
Publicker Industries Pure Oil Radio Corporation Republie teel Reynolds Metal
Sell Ost Co.
Sathi leg. Paper
| Sinclair Oil
Sony Mobile
Solar AirCraft
South Puggle Ilicy Sugar Southern National Gas
authern Railway (Cont.)
Steep lock Torontoex standard Brands Standard Oil of Cai Standard Oil of Ind. Standard Oll of NJ Bierling Drug Ca, Stokely Van Camp Studebaker-Packunt Corp. Swift Co.
Texas
gained Tide Water ARMOI
Time Inc.
Trading Lagged
Trading logged 20,000 shares
Twenty Century Fox Film
| Unki Carbide
Union Pacifle Bailway
United Aircraft
US. Foll "2"
UB, Gypsum
Us Line U.
US Rubber
US Smelting 178 Steel
Tuesday al 1,840,000 | Warner Bros.. but
brisk in the
behind
shares
WIS
late upswing.
Israeli
withdraw
for re-
107 moves from the Gaza and Agaba areas. and Syrian permission
pair of oil pipelines blown up
during the
favourable market lufluences,
Anglo-French
Invasion of Egypt
were dird
ip
La
curly
the
Internationaí oils, subject
sume
proft-sking
dealings, turned up with
rest of the Ilst.
10
Metal shares were lifted 144
nearly 3 points.
Traders were wary of steels, reflecting over layoffs in
hesitation
with the he
zone
cancera CHSTR
the Industry.
Of 11 Issues traded, 475 Už
371 lower, 205 un-
were higher,
changed with five at new high,
six at new lows.
NY 'Stock Exchange Lond volume was $4,080,000.
American Stock volume was 880,000 shyres,
Dow-Jones closing average,
were:
30 industrinia
30 rulle
15 utilities
09 stocka
Exchange
40 bonds
Comm futine price index
Closing Prices
Allied Chemicals
Ar Mu ne.
All Chalmers
Am. Cable & Rogia Comp Amtrenn Cvanamide Q Amer, & Furgn. Pover An, Much, & Púry,
American Metal American Smelting: American Tej & Tei American Tob. ""
Anneonda Cupper Armco Steel Annour...
All Cons Maning Baldwin-Lima-llnn,
Baltimore
Bendix Aviation Com
Cat. Tractar
Celanese Corp.
C. 1. 1. Financial Corp,
Chase Manhat, Bank
Chryster Motors ....
Westgin Union Tel. Westinghoumo Eiretrie
Wert Vn. Pulp & Paper Woolworth
40%
nzia
10
25
4014
424
20
ง
Business In NZ
SCIENCE AND MACHINES
MOBILISED
TO EXPLOIT WILDERNESS
Auckland, Mar. 6.
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stockt Exchange this
op-
morning amounted to proximately $420,000. Noor quolations and the morning's transactions;
Blares Buyers Bellets
While land development is big business in New Zealand BANKS today, farmers, particularly dairymen, are scanning market reports and Ministerial statements with some anxiety.
182
7
For
35
£47 35%
though prices are still where
This problems.
HK Barik
XD Fit A XD INSURANCES Union SUPPING
H
tr will sustain high, is today facing come big Wheelocks unyant, the British market producing густава, for New Zealanul butter and process takes from five to 10 meal has slumped seriously. years of good farming and stock
Nevertheless, selence and management. 110
are being imobilised 23xd nuchints (70% | 4 expand gricultural pind
Carve Tracks
15-03
242
100 040
8.05 DOCKS, ETC. Crodit restrictions last
102 103 year . What
Dock
4732 48 reduced the demand from tho
Provident 13.29 private farmer for the industry'8 | LAND, ETC. service. There has been tolle UK Hotel .. 14.70 11.10 ilk Land.. 0315 24 of price
cutting by aerial topdressing companies and fierce
for jobs. competition
It has been said that there are exploiting with
100 Nelly
RUBBER ne the help of new scientific skills,
many companies and too many
Amalk. areas which
aircraft in the field. The fertility of were formerly wildernesses.
UTILITIES Arta agriculture has developed and perfected faster New Zealand than In any other
Where country.
B4
2
384 x Curtion more rapidly than ever
They are hefore 42% new land and
602
44
43
United Press
เย
WORLD
RUBBER
MARKETS
New York, Mar, G. The rex rubber contract closed today five to 18 points higher with sales of 23 contracts.
Mar.
MAY
July
Bel
Nov
التالي
Mar
30.90
31.10
30.00
30.70
30.50
30.33
30,20
The standard contract closed Ive to 18 points higher with no sales reported.
Mar.
Mov
474 87
July
3-33,42
Sop
7:41 107.70
100 51
Nov.
Jan.
Mar
$ 249,
30,00
31.10
30,09
30.30
350
30 33 31.10
harnessing
been
once
and puckhorsts spread
fertilber in
mouths
ren
จป
scrub
Large Part
Whatever the problems, how-
The Matter country has been
and yielding good dairy lamb farms while much of the hns sleep, broken hill country
developed to the stage
every отс thing is certain | when it will carry two breeding oral agriculture is here to ewcs and
to the dry sheep
10 stay. acto plus one cattle beast about four acres.
bren
Di
huge
are
It is on this bill country that the most spectacular work has jo arduous lot, the seroplane
berm carried out, Bulldozers is today fast pushing back the
1 lower carve tracks round the femties in vast, hill country
fern, contours of the hills to provide hinterland
bracken
means stunted #rebreaks and numika
and
griting fencing materiais nearer trepa
to the spot
where they needed.
Firing of a hill face to clear While a large part of the the
scrub is carried out in the increased production needed to autumn and Tiger Moth planes Supply
materials row
and operating from an airstrip on maintain an estimated increase the lower slopes, drop the seed
population of 1,000,000
in 20 Info
the ashes years will probably come from immediately afterwards, existing farms, substantial
Here, as in other hilly parts tributions will be made by the of New Zealand, topdressing is
with glant jand broken
disc also carried out from the air. and swamp plough and sown But on the pumice lands there by aireraf which drop seed on 15
one small difference: to the warm ashes of burnt-off, superphosphate fertiliser 160 degrees slopes.
cobaltised. Nowhere is land development Low-level seed sowing, fence Fin New Zealand today better
dropping and topdressing over illustrated than on the pumice broken hill country was a
tasy lande of the
Rotorua-Taupe which
the at Arst taxed to area, in the centre of the North utmost
the former wartime
the
almost
the
the
Bales
10 @ 1565
30 33
2000 or 0,05
262 or 101
333 & 0345 10 04 3000 və $31%
250
Tram XD
1.425
1,40 1.50 4504 GO LAŽB 1.00 1.70
21.00
Star Ferry
130
Yaurate
C. Light Electric
22.00
23 2500 22.90 30% 1705 i 30
9.30
In
200 @ 23
Market Drifts
WORLD PRICES
New York, Mar. 6.
The cotton market drifted aimlessly on either side of the previous close throughout the day but finished on a firm note. Trading was quiet.
At the close, prices ruled un- changed to four points higher. The market opened three lower 10 one higher. The Now Orleans, closed; esterday, for the Mardi Gras, finished 19 to 18 points lower, as prices were brought in line with New Yuck.
The lat edged lower at the autot
scattered liquidation and hedging which
some
were offret sounewhat by trade and commision house buying,
The castress prevailed unti mid-afternoon when some cum- mission house short covering, which found offerings light, strengthened
London Stocks
Moderately Lower
London, Mar. 6, Vaguely barassed by
in general,
the far-off de everything fiveries. However, the covering stock markets opened and met a little selling and guine closed in the same mood with most prices mo- derately lower.
were kept small,
Late in the day, a leading
apot firm bought some July, October, and December which brought covering by shorts in mont nearby deliveries, with prices moving
ing slightly above the previous close
There were no Mirch trans- ferable 24 1000 g 23.96
notices lested at New York
or New Orleans today. The March open interest, na of March 5 totalled 34,200 bales,
The certificated stock rose 181 bales to 7,115. Month
The pumice lands of Rotorta-lacio E... Taupo may be
biggest Tel. XD 23.00
INDUSTRIALS centre of land development In
Ceirent XD 2214 23 300 33 New Zealand, but they are by Rope
12.00 no means the only one.
Amoy Con... 32 ja STORES, ETC. In the gumlands of Northland, with its complex soll
16 1010 types, Watson X Al 11,20 111⁄2 of territory chunks
Lane, Crew. 2030 are
COTTONS plought yielding to the
each
Textile year. Selence has been brought anymor 7.93 10 bear on soll problemas end MISCELLANEOUS
end with the aid of the tracer: Ch. En 17.70
INVESTMENTS clement, molybdenum, arcas
IK. & F.F. which werd formerly un-
Invest. productive are
Dow
carrying good pasture and thriving stock.
South Island
Chief difficulty is the pro- pored hurried sale by the Gov- srament to private cuiterprise of the hum Stoel Company of of the major Wales, the last
from to pres being antionslised into the ownership
of the shes. The company classes.
concerns
will be
propertied
sold to investors for 40 million sterling, representing 40
ses of Lion
par value of 21 sterling. With
probable dividend of 8 per cent and |first-rate eamings" prospects, the is attractive except for politics; the country is turning anti-Conservative and
noo 10.10
Volume Open interest
Mar.
4.78
$30
May
6,700 17,700
34.200
302.000
700 @ A
July
0,100
141,800
Off
10,000
106.800
offer
Dec.
11,000
142,900
Mar.
7,700
09,700
May
4,800
37,000
0.75
800 9.30 1500 0 10
5,000
57,000
Total
70,000
NEW YORK
Land development is proceed- CHICAGO GRAIN ing, too, in the though, not quite at pace.
the same
a
MARKET
Chicago, Mar. 6. Most grains were lower on the Board of Trade today after
Main Exports
Last year, New Zealand, - Is
rolatively small country with a population of only slightly over fairly active dealings.
Wheat prices dropped some. 2,000,000 people, gave the world a lesson in grassland forming. | what due to early selling of new
the Seventh crop As host
country to
contracla
reports of International Grassland Con-
moisture
throughout the south she demonstrated *TCS,
to mora
steady, with light offerings, favourable climate meat,
on
Bere men, machines. | pilots who have been the back-thon 200 OYSTEyes scientists that west. Old contracts were fairly
the
育
日
wool and dairy products can be been produced almost entirely
The futures market was very isund. dull today with prices inching cattle and aircraft are breaking bone of the country's seven- higher in line with higher Lori-in
in to
about 25,000 acres a year-old Industry, grass
Bul now don cables. The physical market į year. Half
largely area set by guesswork has was quiet with very little far the overnment as the annual removed from aerial agriculture pasture. tory interest.
development #gure Fur the and constant research by the Spot No. 1 Rss was quoted at whole of the country.
Air Department has resulted in 31% cents,
accident a sharp drop in the rate,
Big Part
on a
Development
national SINGAPORE
scale is being directed by the opened about Markel
Department cent below the previous Lands and Survey close on lower overseas advices, and the Department of Maori
during the ATHITH,
74
Me onc
52
but 11
75%
steadied
largely
on
office in From en Rotorua, New Zealand's thermal
These products have been and New continue to be
* main exports, and
will continue to be the market for
1.001,700 balsa
Strongly
the
Labour gets in, 7 they are
renationalise to iron and steel industry, undoing
pledged
Prices of futures closed today all the work the Tories have
as follower
Bpos
Mar.
May
July
Oct.
Dec
Mar
May
July
33.250
34.55 88
done...
the pollucaj hazard facing investors is a fairly stift one and the next few weeks may possibly turn the handsome offer into a flop.
Industrial shares were idia but tended to drift tower most-
NEW ORLEANS Prices of futures closed today by 6 pence or 8 pence, But Rolls-Royce foll I hallog
and peace
Reyrolle by 2 shillings a pence, suggesting that buyers were disinclined to risk their money. - United
LIFERFOOL
34.00 36.87 2.10
8
Future closings, in pence per
ib, as follows:
Old contract Mar/Apr. 20.03 May/July 20.18
as follows
Epot
on
Wheat closed off % to 1% centa, Soybeans closed off 14 cents.
July
Oct.
to
D.
MET
Wheat No. 2, red
May
July
Spot
Mar. 234 (1)^222) (2)
May
July
Bept.
*
them. main spite of present anxiety among nt the New Zealand formers over-supply of dairy produce to the British market, with creasing competition from other countries and consequent severe Rre
In
New price, reductions Zealand's economy, in will foreseeable future, depend. predominantly on
the produce export of grasslands-China Mall Special.
In
Dee.
Com, No. 2, yellow
Spot
13234-154
Маг
May
in-
July
Sept.
Dec.
Kar,
the still the
May
13756
Outs
Mar
7814
May
of her
Soybeana, No. 2, yellow
Spot
May
July
Sept.
Nov.
Barity,
spot
Aerial topdressing companies 62% morning on short covering and 15 god lower sheet interest, also tourist resort, Mr Gavin Brown, have playca a big part in land 15. there was sonne factory buying, suerintendent of land develop-development and they have also
ment for the Lands and Survey provided the The market cased again dur-
private farmer administers Department, ing the afternoon
with a service which he could territory
which comprises not now do without. 4,500,000 acres, from Tauranga
Bumper wool prices five years in the Bay of Plenty to south of
ago helped the farmer to pay Lake Taupo.
for much of this work, but the agricultural aviation Industry
Bquidation of March.
Futures:
No, 1 rubber per 1. Mar, ay-au
Apr.
No. 2 rubber per 1. Mar, 07-0735
"
610-00' 35-00
77-79
07-20
084-00**
Unproductive
Until comparatively recently, this was one of the most un-
to areas
New
The market was very stendy | productive
with spot quoică al 203⁄4 pence Zealand, Only a portion of the
22
1211
Olso
OL
Beneficial Finance
价值
Benguet Conn
14
Bethlehem Steel
43
Boring Airplane
Borden (The) Co.
Burroughs Add Machini
Ji
No. 3
Canadian Paciße R.
No. 4
Case (4. J Co.
14
92
Blanket trepe
Sput rubber" unbaled
10%
No. 1 pate crepe.
LONDON
421
30
14
05
per lb. Prices;
434L
48
Settlement house term:
No. 1 na pot...
Apr.
331/
45
May
June
50%
Apr./June
Crown Zollarboch
12 x
July/Sept.
Cuban Amer, Suzer Diamond Alkali
2414
Oct./Dec.
Bay
Dougins Aircraft
10
Jan/Mar.
Dow Chemicals ..
GO
Mar.
Dupont de Nemours
100
Apr.
Eastern Airlines
May
Eastman Kodak
8434
El Paso National Gas (New)
Family Finance Corp.
21
Firestone Tyra
BA
Ford Motor
571%
Climax Molybdenum
Colgate-Palmolive Co Colombian Carbon Commercial Credit Commonwealth Elee,
Consolidated Edison Continental Oll of Dol.
General Electrio
General Foody General Motors Gen, Pub. Ul, Gelty Oll
Glidden Co. Goodtricks. Fi
Goodyear Tyre
Gulf Oil......
Heyden Newport Homatske Mining Co.
Incorpoll-Band
Inland Steel Co.
Interchemical Corp.
Int'l Business Machines
2014-263
had
acres 4,500,000
been 20%-20% acveloped and farmed success- 2004-201 fully before World War II.
Much
arca, of the
indeed, 2526 was "bush sick"-that is to say, 2014-2020 2015-20% it would not grow good pasture 26-283 andl it would nol
Wor
support thriving stock.
cobalt has the key
which has Estate crepe thin Mar.
dor to productivity, the ! thick ungunted. When the Lands and Survey AMSTERDAM
ergantsution
set WOR
25-26
General markets, eif basis, povlas
20%-2015 Today
20-1-2011
20 -20% 201
provided unlocked
The market was quiet. Prices Rotorua in 1948, about 450,000 50% closed today in guilders per neres of unimproved Crown land
kitogram, clf March as follows:
were lying idle and the Lands No. 1 rubber
Department was farming about semi-improved
4032
No. 2 rubber
No, 3 råber
No. 1 crepe
254 buyerA
22 buyers 2.47 buyers 2.74 buyers United Pert
London Foreign Exchange
Closing rates were:
New York.....
Montreal
Amsterdom
Int Harventer
International Nickel
International Paper
1001
Intt Tel & Tes
sadh
John-Manville Co.
KADE C. Power & Light
Kenneco Copper
1091%
Liggott Meyer Tob, Co.
Lockheed Attenti
Low IncoTE.
1950
Labor LA...... Oslo
All others
Lowenstein & Son
MacDonnel Aircraft
Lone Star Cement Co. (New)
Meubi Iron Corp.
"Minnesota Mining
Mission Development Monsanto Chemical Co. Montfumery Ward Motorola ioo. National Categ National Day Prod. Zitional Kand
Stations' Steel Corp. New York Central Olin Mathieson Otfe Elevators Owen-Blinole, Ches Proño Gas Éc. Bles, Pan American Airways Turdmouts Pictures Penný 3. C. 06.
Proder & Gamble Co.
Arunoda
Copenhagen
-
London, Mar. 6.
2.70-11/10-2.79-13/16 2.0714-2.07% 10.0776-10.6016- 140.7734-140.00 20,4218-19.424
00,10-0075
20.00 %-20.009% unchanged
United Press.
50,000 Heres of Jand.
returned
NEW ECONOMIC ADVANCE
POSSIBLE IN
BRITAIN AND GERMANY
London, Mar. 6.
A new economic advance seems to be in the making in Britain and Germany, as soon as the That may not respective governments let it go. be very soon in either country, but the pressure to re-expand is mounting.
New York flour
July/Aug. 23.77 Oct/Nov. Dec./Jan.
New contract Mar./Apr.
May/June J017/AUE.
Oct/Nov
Dec Jan,
25.40
20.21
Press,
LONDON. SILVER
PRICES
The price
London, Mar. 6.
*
silver WILS 24.21 quoted today at 70% pence for 20.30 spot and 79% ponce for forward 25.90 (gainst 80 and 79% peace 23.08 previously).—United Presa, 23.33
00.00
Egyptian Karnak Jan/Feb.
BAO PHILD Quotations were unavailable. -holiday.
24815 In the US the average price 2651963 of
one-inch cotton at 14 24434
designated spot markets was not available.
204-14
23324
2
130-340
$13.491
200 1b. United Press.
Total sales at these 14 mar kels were 12,731 hales.-United Press,
NAMESAKES
Answers:-1 Inquisitor, 2 Re- ligion, 8 Trinity, 4 Falth, * Jesult, 6 Spain, 7 Rubens, 6 Mystery, 9 Miracle, 10 Order, 11 Piety, 12 Founder, 13 Castle, 14 Warwick.
Ignatius Loyola,
New York Sugar A NEW COMPANY?
Market
New York, Mar 0.
futures World No. 4. sugar
closed 10 to 14 points with sales of 730 contracts,
The domestic No.
0 sugar From the word "GO" futures closed two points higher
to two points lower with sales or 85 contracts.
Tho
Was
Continua lack of demand in the world raw market brought scattered liquidation into world lower the futures, In From this area, about 102,000
advance, US, Japan, France, In Britain the new
India, futtures prices falled to stimulate Beres have now been fully
in raws new business any developed
settled when it comes, should be much Holland and Belgium.
by and
Meanwhile it was 驢 rather where the price
Is quoted at in 608 healthier than the last one, by servicemen
haywire week to February 18.6.30 cents a pound, fob Cuba. farms,
non being far less indationary. further 110,000 and a
doncatie market Most recent development might acres are being farmed by the
quide. That has been the object of just as well have happened, or Department after being broken the whole exercise for the past boen interpreted, the other way Contract No. # (world)
to gras and developed to two years and, as time parts, round. Rarely can one
week Mar various stages.
have had so much double-talk July it gota neSKINNET..
September from Washington, London and arch little Germany has had very
ProSSUNO and, Bonn. inflationary 100,000 sheep, including 100,000 to all the wishful thinking
Double Talk breeding owes, and 37,000 run
she has cattle. It is expected to yield by her competitors,
hardly any inflationary anger. another 840 farms,
The area being farmed by the Department is now carrying
Development of the pumice lande has bomo basically a
New York Foreign matter of employing the "three
Exchange
Real Problem
Germany's real problem for
*
0.10
+0
4.00
4.00-07
490
@pot-(cente ber 1b, fob Cuba) 420
Open interest: 8/242 contracte, Contruet No, § (domerião)
From Paris the double-talk | May been extreme, rather July
September humorously about the proposed: palcember) European Free Trade Area as 8pok-Couta per affecting agriculture (a matter
open
burn Bation and the consequent governments have decided that
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Capital, cobalt and cattle. Cattle have been used as tools the world is her differential de in which several Continental unsten Press. of trade to consolidato
to off country
crush
the chronic and intensifying under-language was given then to remaining ecrub and to prevent valuation of the D-mark
conceal their thoughts) but
about new advance in Britain and more seriously
the Custome a second strowth coming back
koop Linions of the six Messina after the land has been grated. Germany would help to
DOWCER Consisting mainly of volcanic things going while the many which has become a highly ash shower, the land was other countries which have beo. liberal and discriminatory con- deficient in phosphates nick doing 100 much are having or cept. In that ne in many other nitrogen. Therefore, phosphates will have to grill back a bit, to resposta, the price of the over 010-8/18 have bou used to boost the consolidate for a pew forward valued French france la becom-
growth of clover and we build, march, later.
Ing very high, la Chânia Bait up the nitrogen to the store Thoma countries include the Special.
New York, Mar. 3. Closing rates were: Canada ****
1,01-17/12 4,79-13/16 455 | Kingland official ********
20-day Cuburbs 3.70-0/10 DO-CIRY CUTTER
(1.7236)
213-19/10 2.731
*
New Zealand
Houth Africa
All other unchanged.
{
„TUNIDOS" "Was done to the ungracia month at the following reu
NCOUNTER PRE MAY Adrianerscompong (22) Indoneelarvetpia: Sië (per","360)
100)774rson,
Hujwen | Kloak už po Megaboon 5 (štralia)
Morning Post Building Printing Dept.
Wyndham