THE CHINA MAIL, WEDNESDAY, MARCH 13, 1957.
TRADE and COMMERCE SECTION
G
Page
CANADIAN DEVELOPMENT BOOM STERLING SHOULD DO WELL
FLATTENING OUT
RCA COLOUR TV FOR JAPAN
New York, Mar. 12,
Radio Corp. of America
Ja giving Tokyo its first glimpse
colour televi
van
of
sjon,
The
company han ship- ped a million-dollar cara. of colour televisiou equipment to the Japanese capital for demonstrations at the international trade fair there from May 5 to May 19.
Waitern,
Vice- A. F. Prezident and Operaiton Managor of the ROA Inter- national Division said this will be the first showing of ROA
colour compatible equiptment which includes fuli
colour TV
two
facilitlem
studio CAREER
chains, lighting and test- ing apparsluð, film trans- allung faciliiles and two fully equipped
unita.—United Prem,
mobile
Businessmen Watch Situation Closely
Ottawa, Mar. 12.
Canadian businessmen are keenly scanning the Private and Public Investment
for 1957, as programme
HONGKONG
STOCK EXCHANGE
(From Qur Correspondent)
WORLD RUBBER MARKETS
New York, Mar. 12. The rex rubber fulures today closed 20 to 30 points higher with sales of 68 contracts.
Bysinces done on the Hong-March
Stock
May kong
this July Exchange morning amounted to appro- September forecast byxinitely $463,000. Noon quota-
November January the Department of Trade and Commerce.
Mercha
A sharp sui-back in
housing construction, beginning in 1950 but gaining in intensity at the boginning of 1957, though
to high interest rates, has led ther 10 wonder whellor Canada's postwar development boom may be about to wane,
wvemments and private house- bullters
F
tlong t the morning's tran- sactions:
Rhares
BANK
HK Bank XD 1840 150 INSURANCES Unim
Tesidentiu! dur
construction exposted in be 18 per cent lower
Lombard On the other SHIPPING 1050. bund, outlays for non-residential Wheelock 0.70
DOCHS, ETC. evi truction more than take up
K. Whart the stack, with an increase of 18
Doult per селі. Expenditures equipment are expected to be up 10 per cent.
Largely because of less house buliding, present plans call for an Increase of only 8 per cent in capital expenditure during 1957, compared with no over- all increase of 17 per cent 1956, Talal expetiture.
KvOy,
En
how- amount to 3,500) tabout £2.810 welt above
million dolors million),
fast year's record-breaking total of 7,000 million dollars (about £2.700 million). Thre Totals include the capital expenditures ot all business institutions
WALL STREET
INDUSTRIALS
CLOSE
FIRM
New York, Mar. 12.
A few special issues showed sharp price change and one or two were heavily traded in a generally irregular and narrow market which generated the smallest volume since Feb. 26.
Turnover totalled only 1.600,- GUQ shares, 60,000 behind Mou- diny.
ย
Industrial stockt: closed on firm note in their average-up i point to 470.81. Rails lagged with their average off 16 point while utilities rose .29 to 70.98.
centred in
Trading interest the motors with American Motors in taking top spot on continued strength stemning from news that Anaucier Louis E. Wolfson is seeking to take over the auto firm. It rose 12 point.
Missouri Pacifle placed third in the sellves and climbed 1% points to $42.
Hardest Hit
Metals were hardest hit of the leading groups with losses rang- Ing close to 3 points.
Douglas lost over 2 the aircrafts and Boeing gave up u fraction on realising after its late run-up on Monday on news of ita record-breaking jot.
Steels ranged from a gain of clope to 2 points in Inland to point losses in Carpenter and National Bethlehem dipped fraction in netive trading.
#
Ot 1,117 issues traded, 484 were lower, 401 higher, 254 un- changed. There were five new highs set, 21 new lows.
Counesa Corp. CIT Financial Corp. Chrysler Motors ...... Climax Molybdenum
Colgate-Palmolive Co Colombian Carbon Commercial Cred!!
Diamond Alkali
General Foods
523
41 7636 0474xd 4202
4454
$B
Commonwealth Elec
Consolidated Edison
40
Continental Oil of Del.
53
Crewn Zeilerbach
51%
Cuban Amer. Bugar
2416
Douglas Aircraft Duw. Chemicals
704
30
Dupont de Nemours
Eastern Airlines
Eastman Kodak
El Paso National Gas (New)
3014
Family Finance Corp.
231%
Firestone Ther
8434
Ford Motor
5711
General Electric
4331
3
234 091
Goodyear Tyre
Gulf Oil
ileyden Newport Corp.
11714
Hoistake Mining Co.
344
Ingersoll-Rand
Inland Steel Co.
701
Intercheinteal Corp.
27
Int'l Business Machines
301
International Puper
International Nickel
32
3014
1001
息糠
43!
18
General Motors
Gen Puh. Util
Getty Oil
Gikkten Co
Int'l Harvester
Int'l Tei & Tel John-Maville Co. Kanisan C. Power & Light Kennecott Copper Liggett Meyers Tou. Co. Lockheed Aireenti“ LAWA Incorp,
Lone Star Cement Co. (New) Lowenstein & Sona, Mosalt Iron Corp. MacDonnel Aircraft
Minnesota Maing
Salon Development Munnio Chemical Co. Montgomery Ward Motorola Inc.
National Caplı flest. "A National Dairy Prod. National, Latvi National Bteel Corp. New York Contral bond Olha Mathieson
Our Elevators Owen-Illinois Oline Pacific Gas & Elec
NY Stock Exchange volume was $3,620,000. American Stock
Exchange volume was 700,000 shares.
Dow-Jones closing averages
wone!
30 Industriale
330 Talla
I ulos
CB locks
40 bonds,
Comun, future price index..
Closing Prices
Allied Chemicals
Allied Ms Inc. Allis Chalmers American Airline American Cable,
Corp.
American Cyanamide Co.
Ameri. Forgn, Power
A. Moch, & dry.
American Metal
American
melting
Ani. Bugar. Ref.
American Tat
American Tob." "B"
Anaconda Copper
Anog. Boel”,
Armoi
470.31
Pan American Airways Paramount Pictures Parke Davis Co. Penny J. C. Co. Penn. Salt Co. Philip Morris
Proofer & Gamble Co. Pittsburgh Plato Glasn
141.70 Pune Ol ........
70.98 100.37
20.87
tadlo Corporation
Republio Blogl
Reynolds Metal
100.03 Shell Oil Co.
#87
2014
224
Saint Reg. Paper
Sinclair Oil
Socony Mobilolt
Bolar Aircraft
Bouth Puerto Rico. Sugar
Southern National Gas
Southern Railway (Com.) Sleep Rock (Torontoux.) 104 | Blendard Brands,
Standard Oil of Cal:
31, 20
31.35
31.20
31,00
30.70
21.00
30.85 30.70
30.53
Buyers Sellers
Bales
Standard contract clpsod 25 to 30 points higher with no sales reported
March
3120
[K10
May
50
July
September
0.89 1000 a 8,00
November
January
102
March
461%
on
Prov. (0) LAND, ETC. HK Hotel
13,40
23 1320
10 15.10 1000 @ 15
cables and
NK Land
35%
17
1.33 1.375
1.45 5000
1.42
3000 1,0
2000
22
136
100 100
200 21,00
100
160
*The depriment estimates
x All.... Thus, 17 present plans bold, Humphreys
XD capital spending will not
only Really be the hughest na reeard but | HUBĀKIE will also penbably absorb the Amok.... 1.42%
Trist large proportion of the gross UTILITIES onal product of any poel-Tron X war yeur. In other words, the Star Ferry devilepinent boom may be fint- tering can but it is stri truch under way
Peak This Year
You all
Light very | Becir XD
Macao F. Telephone
Xb
Most Of the expenditure planned represents projects un- dertaken in 1950 and reaching their peak in 1957. Indicative of the flattenhug out is the fact that planned expenditure on new projects to be begun during 1957 is relatively small. The end of the recent bulge in the boom is therefore in sight, though great development may continue.
During 1950, scarcity of key labour ligh!
materials and
supply proved the main bottle- necks in currying out capital feels
expansion programmes. In 1957, the Trade Department
present
plans call for only dditional demands on
ts and labour, Provided that there is no renewal of the steel strike in the United States, which handicapped lust year's progress. there should be no shortage in mast Курен об steel.
con-
Wis
So far 15 labour is cerned, the labour forcO fully employed during the peak of the 1056 building season.
Emphasis
200 102 200 de 40
100 40%
2200 23.10 2700 or 22.90
9.30
53200 11.00 2000 F 2390
INDUSTRIALS
L'oment XD 329 21 7200 32 Itope
12.30
200 1.0215
Metal 1. 1,0216 Ay Can az
10.10 10.20 500 18.10
STORES, C Dairy
... Watson: X A COTTONS Tooc1iles... 4,70 Natang
11,20 11.40 1000 13.30
4.00
MISCELLANEOUS
Entert
8.00
10.10
London Stock Market Higher
The
London, Mar. 12, stock market closed Irregularly higher despite fears of labour unrest in shipbuilding and engineering industries.
Department stores and assort.
ed electricals recorded gals. British Ford was firm following Its unchanged final dividend for the year ended Dec. 31.
In the aircrafts de Havilland closed higher following a dividend boost nd report of higher earn- ings Textiles closed lower.
Middie
Os, although steady at the close, were sensitive to East uncertainties. Gold mailpg shares declined. Copper shares were irregular. Rubber and tea shares closed study.
This year, since the emphasis is on the cugineering type of development, there will be com- little increased de- partively mand for on-sile building 4werkers. The numbers employed are likely to be about the same
rallied as last year. The labour situation is therefore likely to be a little easier than in 1950.
Summing up, trade and com- merce ometals expect that this year's record investment
pro-
gramme will be realised. But if
Higher trend reflected seller cautiousness in face of steadier
indications of Д
developing factory demand in the focal market.
Shipment offerings were
in
fair volume and steady to firm prices.
Reported sales included some
IN THE LONG RUN
London, Mar. 12. SHIRE »çema tô be few intractable problems, other than the D-mark und the French frano,
which is far more important, may not do brilliantly in the shorl Fun but should do well enough in the long-
KOTI-
For this century the dollar debi
will be most valuably solidated by replacement of outright walver of the Interest, which had become void for uncertainty, By the possibility
af postponing both interest and principal, next century can look after itself,
There is always the possibly too, of the reserves being strengthened by a liquidation at Inventories.
Sterling labiles to sovereign equntries have also been most valuably worked down over the years, though there may still be some pressure to come. and when· Industry in Bri- .
tain and other storing coun from the big sterling balances of colonies
tales has to work in and ex-colonics, notably West Africa.
petitive conditions which
In the way Congivas works, it may be some months before the $140 million sot näide for the interest waiver
be wrilion back into Britain's
can
TEBOTY ES. Meanwhile they will be helped by India's drawings from the IMF, The slownoes of bear covering
moans that there is all more of it still to come.
the
New York Cotton
Futures See-Saw
WORLD PRICES
New York, Mar. 12.
Cattan futurea see-sawed over a wide range
March shipment one sheets out today in spasmodically active dealings,
of Cambodia at 30% cents
a
pound, cost and freight. Local-
ly, Spot No. 1 Res was quotea bị 31 Ent.
SINGAPORE
The market ruled dul Throughout the day without much trade interest. There was some small Inquiry for lower gmdes. Futuro closings were: No. 1 rubber por 1b. Apr. 89-91
May 893-00 No. 2 rubber per 1b. Apr. 871-, No. 5 No. 4
Spot rubber unboled Blanket crepe
AMSTERDAM
|
Operations centred mainly on final adjustments in the March delivery" before its expiration tomorrow. Outright liquidation was absorbed by spot interests while other dealers switched bolween nearby and lator monthɛ.
March contracts closed at the day's best lovels ruling 26 points
up only. 3 to 5 higher while other months were points The market opened off 10 to 1'polat. New Orleans closed up 3 to 53 points.
Singapore
Stock Market
Singapore, Mar. 13. Brokers today
quoted following stock prices;
the
Opening Bota Liptang Rubber Co. Ltd. $1.00 Brian BOTTEG Petroleum
Byndirat
-
+
64-65
Consolidated Tin Smelter
No. pale crepe
70-78 05-87
on proposed cotton legislation
Ord, Fraser & Ntavo, Ltd, Ord. ... Interest in new crop months | Star. & Neavo 7147% buy.
prof. lagged, as traders awaited crop accounts and congressional deve garnona (Malaya) Limited $197
Hoogkong & Shanghai Banking
Corp. lopments on farm legislation. The The market was steady, Prices House
7/84 Agricultural subcom-Hangkong Ties Ltd. closed today in guilders permities today opened hearings Le Rubbe kilogram, cif April as follows:
31/01 $3.30
$4.00
Rubber Estates Malayan Breworlea pun New Berandah Rubber
12.00+
No. 1 rubber
No. 2 rubber
2.04 bugerS
Petaling
Lu Tin Lud.
No. 1 rubber
250 buyerA
an
No. 1 crepe
2.57 pald
2.11 buyers London rubber prices were unavailable-United Press.
CHICAGO GRAIN
MARKET
Chicago, Mar. 12. Most grains closed stendy on the Board of Trade today.
Wheat
finn in early trading due to commission house buying on the reports of a cold spell in the southwest.
wns
Wheat closed up to off cents.
bonds Soybeans closed off to up casiness, cents.
were wheat No. 3, red
British Government
from intial Some Japanese bonds casier in an idle foreign section. Dollar stocks were mostly lower.-—United Press,
bond
casts continue to move upward. New York Foreign
as they did last year, its dollar
value
mny be considerably
higher than the planned 8,500
mlilion dollars. China Mail
$ Special.
New York Sugar
Market
New York, Mar. 12.
sugar futures
World No. 4
Overnight issuance of delivery
notices for 1,000 bales brought Poles Hotel
Singapore Cold Storage
Steamship
opening furry of Murch month to 34.00 cents A pound Straits Trading Iquidation, lowering
the spot. South British Insurance Co.
Ltd. and widening the discount under May to 36 points. With stop page of the tendera Агрипа noon, the markot recovered with. March recovering about two-thirds of the discount.
Open March contracts today totalled 18,500 bales. Trading will
12.30 pm. to- ccase at morrow. Traders pondered the possibility of additional stock to 10,070 bales,
month
March May July
October December
March
MAY
July
Total
Volume Open interesi
6,000 47,200 23,400 352,400
3,700 144,100 5.900 102,500 3,400 71,400
2100 140,700
2,000
1.400
63700
39200
$3.900 1,000,200 bales
NEW YORK
Prices of futures closed today
May
October December
March
MAY July
NEW ORLEANS
Spot
2321-2331b
Mar. 232 2310
as follows:
May
July
Apol
Sept.
2204-14
Match
Dec.
24934
Corn, No. 2, follow
Spot
Mar,
Mar
Exchange
July
Sept.
Dec.
New York, Mar. 12. Closing rates were: Canada
Ryo
Mar.
1.042
May
2.07-169
H
official 110-days D-day's
2.79-11/16
Oats
3.70-7/10 Mar,
13744-139
น
as follows
Spot
March
May
3.79%%
Australia
New Zealand
South Afrien Belgium Uruguay
2.70-11/10 2.00-1/10
May
Soybeans, No, Z, yellow
Spot Mat.
December
240 24392
March
United Press.
May
July
Sept.
2442-14 2414 234-23514
May
July
Nov.
England unofficial
3050
closed unchanged to polie London Foreign Barley,
2 lower with sales of
544 con-
trnets.
4512
45
TAAL
No. 8 sugar futures
closed
30% unchanged to one point lower,
623
41
with males of 77 contracts..
Exchange
London, Mar. 12. World contracts faltered after
Closing rates were: yielding early New York
4114 & flrm start, 结
1716
Montreal
gains, and a little more, under Amsterdam commission house liquidation Brussch 341) and producer selling while the Copenhagen trade awaited further raw mar sto
Milan kot developments.
19
Stockholm Vienna
2.70-0/10-2.791% 2.0755-2.073.
10.0114-30.0731
140.735-140.775
10.424-10.4234 $700-170034 19.009-10.00%
1449-14AB1, 77-03-72.80
Others were
Zurich
Press.
34.89
12
Prices of futures closed today
July
October
LIVERPOOL
28.04
21.43
Futures closings, in perco per
lb. were as follows;
Spot
130-140
New York flour
200 lu. wack
Old contract
inited Pres
$13.400.
Mar/Apr.
May/June
July/Aug
UCE/NOT
Ded/Jan.
Mar/Apr.
MENUNG
July/Aug
Oct/Nov.
Dec/Jan
Egypuan Kaynik
Jan/Feb.
NEW YORK METAL wontract
FUTURES
Now York, Mar. 12. Prices of metals closed today
in cents per lb, as follows:
10.100
Lend March ..
unchinkedUnited | Zino
April... 15.000
12.201
March.. Aparihar 13.036 20150 Copper March
LONDON METALTM
PRICES
London, Mar. 12.
Pricen of metals closed this
Radio
Handard Oil ut Ind.
Contract No. 4 (world)
76
Standard Of of 14. ....
14
Sterling Drug Co. (New)
K
| Blakely-Van Camp,
183%
2514 Studebaker-Packard Corp.
712
11016 Texan Co.
Bwllt & Co.
Moy July Sept. Mor.
6,13-14
G.IR-13
002
15 Tide Water. Amen. Oli
May
July
Gold Time 100. ****........
0411
Twenty Century Fox FUM
200
Spot-(canta per ib. fob
Cuba)
9.10
6315
Union Carbido
1101
182
Open Interest: 0,169 contraçta,
Attas Cone Mining
Union Pacific Railway
2716
1936
United Afreente
Baltimore & Ohio'
atk
Fold "B"
Contract No. 4 (domestko)
Rs follow
Bendix Aylation Corp.
sal
Batt
US. Gypur
Beneficial Piano
Benguet Con
20.8. Rubber
UA. Line Co.
May
41
UB Bleet ...
Blowing Airplane
4714
Warner Dro
(716): On.
Western Weetinghouse Flagirie
Union
5.90.
Csókolan" Packlo ft."
Cage (717) D.
Wht Va. Pulp & Paper Woolworth
per 16. tit
Open inter
Cat. Traktor
20562
Kards.. gkijk) (standard)
94BTI) - (VERIL) 97.8735)
*United PregR.
April March
April...
morning in sterling per long to Exchange Rates
Tin spat
3-month (Copper spot, Cannon thi
Land let Balk
Izine-18) half Maret
June
Business, was done in the locs! möming at the followin
FUR FARUK noted "per
rupinti_(pe
2555
Bam-11am) - (per 100) singsporw ♪ (truita)-
10%
SAO PAULO Futures closings, in cruzeiros per kilo were as follows:
Dee,
38.40 50,00
In the US the average pripo of one-inch cotton at 14 der signated spoi markets was 33.78
at cente, Total majes
theme markets was 15,400, balss.
КАВАСИ
- The market was eruśle due to. tile local speculative operation. 10- day. Peloos ir taproos per maund ma follower; ?
A Sind roller glo
United Engineers Ord." Weame Bros,
cumdiy
China Hall Special.
$1.00
30
$37.00
30.001
2.90
NOW!
Ir
com-
force it to husband instead of to pad is inventories, thero
la
scope for Dubstantial transmutation of Physical into monetary resetves,
At the 10west, B not-
Indationary expansion British Industry
should
TO
not
require or entail BILY. Over expansive restocking of Im- porta-China Mall Special.
AUSTRALIAN BOND ISSUE
IN AMERICA
New York, MSF, 12.
úcaded by
A Morgan Supley & Co. is marketing an issue of 20 infllion of Commonwealth of Australla 15-year flvs per cent bonds-ihe third publlo Ananging by the Commonwealth in the US since 1954.
The Commonwealth will ugo proceeds from the saje toward payment of $12- 114,000 of 10-year 34 per seni bends and dapital works and expondligree,
The new bonds, dug March 1, 1978, are priced at 100 per cent and ́avcrued interest to Field 'live per gent to mainrth?,
The mom) recapá puklio of Commonwealthi sale bonds -herɑ involved 'gn Imao of 25 million 15-year 41⁄41⁄2s marketed in Jane 'of lari year.......Unitsa Prem, --
2 Mur-
NAMESAKES
Answers: 1 Delect,
der, 3 Grammar, 4 Newspaper,
& Thriller, 0 Writing, 7 Candle, 8 Journalist, 9 Fleet, 10 Plaque, 11 Clues, 12 Mystery.
Edgar Wallace.
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