Page
THE CHINA MAIL, WEDNESDAY, JUNE 12, 1957.
TRADE and COMMERCE SECTION
GROWING MARKET IN RUSSIA FOR UK RAPID AND WIDE
America's Export WORLD Also Rising To RUBBER Eastern Europe
London, June 11.
MARKETS
New York, June 11. Rox rubber contract closed to- day to points higher to 20 points
July
Sept.
Nov
Jan.
Mor. Atoy Juty
British goods are finding a growing market lower with soirs of 135 contracts, in the USSI and Eastern Europe, and to some extent, so are American. But the latest trade figures from London and Washington serve to underline the difference both in scale and range of products.
The US licensed more goods for exports to the region during the first quarter of the year than in any other period since 1949-some £5 million worth, of which just under half is likely to be acually exported.
Д
This amount, which excluded relief supplies to Hungary, WON
amount licensed twice the your age, and, according to the Commerce, Mr Secretary of Sinclair Weeks, "reflected progressively broadening interest in US non-strategic goods, not only in agricultural products, but also in industrial machinery, textlies and chemicals."
Observers aay it also reflects larger US imports from the region at the end of last year.
Recently
Until very recently, the seale of US ales in the region had not seriously concerned other Western exporters, But neither dld Wes Gorman sales three or neither do four years ago, Japanese sales at present: bul both show
signs of Caching great strength positions of
HS suppliers to the region,
The actual rate of American exports in the last quarter of 1956 was just £3 million to the USSR and Eastern Europe almost combinan amount Italgnificant in relation to either German, British or French sales. Trade observers view the US trade statistics with particular interest in the ilght of current US moves Lo
lighten umbargo un shipments to region.
the the
It is clear that American trade is sill; largely confined to
furm products, us the first seven
categories of goods
show.
licensed
The largest machinery
In the reverse direction, Bri- tain has been taking a steadily increasing amount of Soviet pro
Britain took duvis. In April, £3 worth for every £2 laken thus lifting the in April 1950,
£14 clate wo year's million from £13 million (a rise of about
total to
year ago per cont).
Record
A
In April shipments of Soviet ures to Britain resohed record proportions. Pig-iron alone was worth Tarly £900,000 and manganese orcs over £500,000.
Tuicing the first four nonths of the year, Soviet plg-iron has been worth almost £2 million (slightly less than a year ago) while munganese ore was worth £940,000
with (compared
800,000 a year ago). Supplica of Soviet word and of cotton showed conflicting shipments were trends: wood
pur cent running about 12 above last year's level, worth nearly £1 million, while cotton to £1 rallion fell shipments from £1.7 million.
Sovlet oll and products, on the other handt, made a recovery and were worth April in
bringing the year's £120,000, total to date up to £360,000 or almost as much as was shipped in the whole of 1030, China Mall Special.
TREASURY
22,45
Standard contruct closed 10 ne sales reported. higher to 20 poln's lower with
July
Sept.
Nov.
JOB.
Mar May July
32.04 32.03 12.45
33.00
Realising by some of Mon- day's buyers and dealer hedging brought an easier tone toward the close following forenoon firmness with the higher Lon- don cables, and reflecting higher shipment
offerings prices, Domestie factories also were reported to be fair-sized buyers on the advanco,
In the shipment market offer- ings from Saigon and the Indo- nesian area Included one sheets al 32% at 32% eents; two cents; threes at 321⁄44 and fours at 3274 cents a pound, June/July, coul and freight. Locally, spol at 33% No. 1 Res was quoted cents a pound.
LONDON
The rubber market was Arm with spot quoted at 27-11/10 pence per lb. Prices:
July/scut.
CHANGES IN
HONGKONG OCTOBER COTTON
NEW BUYING IN
NEW YORK AS STOCK IKE RECOVERS EXCHANGE
New York, June 11.
New York, June 11.
Rapid and wide changes in the October, 1958, delivery dominated cotton futures trading today.
After soaring to a new seasonal high, October slumped $1.25 a bale under realising and increased hedge selling coincident with a let-up in commis- sion house buying.
Our Own Correspondant Stock surged forward to new highs for the
Business done on the Hong- year on renewed enthusiasm today as President og Stock Exchange this
Closing around the Eisenhower returned to his White House office, morning amounted to
the list. showod ximately $628,000, Noon quota- lowest levels apparently recovered from the weekend illness tions and the morning's trans-net losses of 0 to 11 points.
actions.
The market opened unchanged which gave the market such a jolt.
to up 3 poinia, and at one time New contract July/Aug
All sections of the list joined in the rise which BANKE lifted individual stocks a point to more than 6 INSURANCES points on active turnover.
The President's appearance at his desk shortly before the mac ket opening brought new de- mand on top of the buy orders which had plied up overnight
the rise and
was extended steadily throughout the session
by
Shell Oil Co Saint neg. Paper Binclair Of
Socony Mobiloli South Puerto Rico Sugar Southem Co. (720)
them National Cas
Standard Brands
Southern Raliway
Standard Oil of Ca
Standarti Oll of Ind. Although overshadowed
Standard On of NF Monday's 3,050,000-share total steep Rock (Toronto Exge.j achieved on activity which kept Sterling Drug Co reporting tickers running late by Storely-Van Comp.
Studebaker Packard Corp. as much na 14 minutes-tura-Swift & Co.
Lotalled 2,650,000 Texas Co. over today
of the year, shares, one of the best sessions Tido Water As, Oll
Tline Inc.
Sharp Gains
numerous
Bharos IIK Bank
Union SIRPPING Waterbost 20.10 Wheelockd 7.00 7.09
Realty
NVER
appro-
day**
Old contract July/Aug.
Det/Nov.
Dec/Jen.
Mar/Apr.
May/June
J09/AUR
Oct/Nov.
Dec/Jan.
Mar/Apr. May/June
25.01
20.01
July/Aug.
KARACHI
on
Techniciana pointed out that
showel
at the high polat today, October a cumulative rise of $10 a bate from the
low established
almost
July contract continues to be under
speculative. pressure, touching now lows on current downward move.
Now crop contract encountered little selling today,
Buyers Beer
1030 1040
00 D1
MAYON
43035
30 w 90
was up as much as 17 points. New Orleans closed off 2 10 14 points.
1000 L 3X 1300 7.55
950 † 7.10.
DOCKS. ETC.
Wharf..
Dock
110 4334 44% 300 a 44 Pykent (0) 19.30 13.40
season'a April 20.
(Com)
LAND, ETC.
44
Hi Hotel..
30
tumphreys
Land..
15.40 1510088 30
2000 m 1514
Three Factors
作
1.50 1.5235
Trust
1.30
UTILITIES
Tram
...... 23.30 23.00 1350 a 21.30
201
Star Fony.
137
ભ
Y'aument
Twenty Century Fox Fibr
Union Carde
1
C. Light (0) 18.00 19.10
(g) 13.20
A post-opening buying ruah sympathy with New York, was coupled with three main partiy on expectations factors: 1. Expectations that favourable Pakistan-Japan trade the sail bank programme will be agreement talks
which 100 of 21.30 in operation next year, 2. In-menced tomorrow,
areasing doubts about any cotton price legislation this
partly in
and
of
CONTI-
M
Prices closed in rupees per
Unios Pacific Railway
203%
71/2
Utilted Alteraft
120 Electric 50
29.90 Macao E... 0.50 Telephone 2011 20
18/4
300 20.00 2000. 20.50
200 Punjab roller gin
maw gin
saw gin
SAO PAULO
02/4
BLA
INDUSTRIALS. Cement
327%
33
200 $3
600 323,
300 33
Поре
13.40
Amoy Cau 34 STORES. ETC. Dairy
500 35
against
October purchase on the theory
July
Oct
39.00 unquoted
14.70 14.00
Watson
Lane, C
凹
500 G 14.89
70032
Kwong S. II.
that the present wide-intra- month difference will eventually level off.
Dec.
41.01
Mar
41.20
May
$1.10
181
The government weekly crop bulletin
States, The
lete in the week following.
迮
nt 14 designated spot markets
23.00
change to warm sunny weather
in the western portion
of the
United Gas Corp.
U.S. Foll "D" With sharp gains in the steels, US Line Co. chemicals, oils, motors, metals | U.S. Rubber and
miscellaneous Smelling
US, Steel Issues, industrials ran up 5.72 points to 509.48 in their averages. It was the best gain since Feb. 15 and fifted prices to the lovel of last Sept, 6.
Even the laggard ralis joined 279-273 in with a gain of 1.45 to 145.08 On average, Utilities picked up .14 to 73.70 and the 65 Hock composite rose 1.83 to 170.51.
No. 1 Ra spot
Settlement house terms:
July
2731-28
August
271-28
September
273-28
27-20
Jan./Mar
271-20
Apr June
273-26
Gestal markets, clf
basis. ports: 27-7732
44
Det Dee."
June, July and Aug. Extala crepe
Estate crepe thick July
AMSTERDAM
The rubber market was firm. Prices closed today in guilders. per kilogram, clt June as follows
No. 1 rubber
No. 3 rubber
No. 2 rubber
No. i crepe
3,00 paid
2.06 puld 2.02 buyers
2.63 buyers
ilm, for instance, was TO CHANGE Sober prices were
worth
of
making The Commerce Department's details
following show the
machinery for Czechoslovakia.
groups of venced goods for the
first quarter; incatble
tallow,
hides, boods, pearuis, wool rags, and soybeans (each of which
PLANS?
New York, June 11. An increasingly tight
was worth more than £150,000):money market may force
Dynel
knitting yarns, moter-ears (each
worth
and over
Values
£10,000).
followed by petroleum coke, the Treasury Department to change its plans for borrowing between $3,000 and $4,000 million in late June early July, ac- cording to financial quar ters here.
The
actual values
tallow (mainly for USSR)
£800,000:
were: Poland and hides
anl
and
peanuts
or
The Departament is now said to be considering suggestions
unavailable-United Press,
New York Sugar
Market
New York, June 11. World
Of 1,183 issues appearing, 713 were higher, 251 lower, 210 un- changed with 65 at new highs,
a new lows.
NY Stock Exchange bond volume was $4,480,000. American Stock
Exchange volume was 1,140,000 sharta.
Closing Prices
&
Alden Inc. Agy. Allied Ms The Allis Chalmers Ainetlean Airline American Cable
Corp. American Cyanide Co. Amer. Forgn, Power Am. Gas & Electric As Mach. & F'dry. American Metal American Snelling Am. Sugar Hef. American Tel & Tei American Teb. """ Anaconda Copper Armco Steel Antour
AU Com: Minlog Baldwin-Lima-Hani.
Rallimore & Oile
No. 4 sugar fu- Benguet Cons
closed tures changed to
today
14
Butlichem Sterl
un-loving Airplan
Borden (The) Co. points Durrought Add Machie
Campbell Soup Co
higher with sales of 1,105| Cazzadian Pacilie 1. contracts.
of this money which it needs points higher with sales of 291 Climax Molybdenum
to offset & normal seasonal lag contracts. 17 tax collections and then acquire the remainder some time in August.
Warner Bros. Westinghouse Electric Western Union Tel. Co.
West VA, Pulp & Paper
Woolworth
United Press,
CHICAGO GRAIN MARKET
Corn
Chicago, June 11.
futures closed higher, other grains do- clined
Board of on the Trade today after a quiet 171 Bossion.
30
"
The Influencing factor in 10- day's market was the Govern- ment crop report released late 20% yesterday which predicted good
wheat production this year.”
301
2011
Wheat began_moving lower ut the opening, reflecting this news Other grains followed the action by whoat
COTTONS Textile
103 103 200 104
season, 530010
Serious
over the maund as follows: B23 ur 2240 13 20 delayed crop stam over large sind roller gin
concern
areas of the etatral und wisten dior Bind roller gin
110028.00 belts.
126.00
Nearby deliveries lagged most of the acsalon. Spol house cf- ferings at the 35.33 cents levol for July
hampered rallying
tendencies in that soetor. Fres
Cotton futuro closings, in crus
sure in now July was credited zeiros per kilo were as follows: 10 straddler seiling
11.70.11.90 2000 11.9
4.60 4.03
Nanyang XD $.05 MISCELLANEOUS
Entert
INVESTMENTS
All ed
4.50
Invest. 10.30
HK & FE
SPECULATORS BUSY IN LONDON
London, June 11. Speculators, arguing
that South African, gold shares have been
In the United
noted an improvement average price of one-Inch cotton
was not available,
main belt. But critical concern Total sales at these 13 marl:cla
was indicated for Jale
sceded was 21,905 bales.-United Press,
cotton in the low plains where
the crop is two to four weeks
Jetc.
Month
July
Volume 3,100
Open InterENT
109,800
Oct,
1.200
171,300
Dec.
13.100
212,100
Mar
8,300
120,000
7,300
120,000
July
1,200
70,300
Oct.
19,100
75,500
Todal
€3,800 838,700 bales
NEW YORK
Prices of cotton futures closed
today as follows:
Sput
rūty
over.
Oct
Dec
sold and are a good pur-
MAL
May
at current prices,
July
Oct
Wheat closed off to chase cents for old and of % to worked gallantly today to cunts for new. Soybeans closed | revive that rather 401 unchanged to oft i cent,
market.
210-210 20412 210-210 210-
Вспеле Finance
18x
Bendix Aviation Corp.
Wheat No. 2 red
Spot
204-20451
401%
July 2011(E) COL) 2011
鸡经
Sept
20412
ᎬᏁᎸ
Déc.
ZDO
40%
Wheat new contract
SILL
July
30% Sept
Case (J. 5.) Çu.
161
Dec
Cat. Tractor
时候
Mar.
Colonese Corp.
1BT
May
2001
The domestic No
6 sugar that it should borrow only half futures closed unchanged to 5
C. 1. Financial Corp. Case Manhet. Dank Chrysler Motora
46
Com, No. 2, yellow
48%
Spot
333
73
July
TREA
Sept
Doc.
45
Mar.
402%
May
3034
Ryc
広
July
12311
110
Sept.
110%-%
Data
10
771%
July
Sept. 0644xd
0372 041
105
Boyleans, No. 2, yellow
Spat
104
July
50%
Gas
Hept.
Family Finance Corp.
Firestone Tyre & Rubber Ford Moter .....
25
Nuy.
232-237111 203%
22034-3
.Jan.
55
Atar.
Gemoral Electric
70
Harley
4012
New York Bour
Get Pub. U.
200 lb, sek
-United Press.
Goodrich (B.F. Ch.
E
skins (mostly tu USSR and Czechoslovakia) £040,000; seeds for corn, gruss, and uffalfa
Germany (mainly East Rumar.io) £010,000: for Poland £440,000: wool rags for Poland £210,000: soybeans for Poland £100,000: petroleum coke for Poland £70,000: Dynel knitting
for yarn
Poland 220,000 and motor cars For Czechoslovakia Poland, USSR, and Rumania £11,000.
Twice as many British goods were shipped to the USSA in April as in April 1930, and this Britain's helped to Increase exports this year by 20 per cent to £12 million.
Desplie a slight deeline in the mola, product, copper wire, the maturing Government securities Contract No. 4 (world) annual rate of these exports to obtain funds that can now £36 million, which means placed in better-paying an expansion of one-third over porate obligations-China Mall last year,
Special
Narrowing those successes to some extent have been lower re-exports of rubber, now run- ning at under half ine level of a year ago. Recent Soviet pur- chases on the London market are believed to have been sub- stantial, a Luctor which will boost these figures later in the
year,
Strength In world futures re- ceted the higher raw market and reported Russian purchasea The tightness
tons of refined from of money has of 35,000 already upsci
of Great
Britain plus reports Treasury loan operations in the Marocco might set on June, 19 as recent months by leading the the date for its sugar tender. Treasury to borrow short-term money when it really wanted Domestic contracts also Intermediate CT long-term neeled the firmer raw situation capital.
and increased reiner purchases, At the same time, investors anticipating the heavy consum- have been
the jing demand during the sunumer nggTaveling situation by cashing in
an months, abnormally large volume of
bo
Cox
Singapore
Stock Market
July September October March May
July
September
Spot-vente por 15. fob
Cuba)
Colgate-Palmolive Co. Colombian Carbon Co Commercial Credit Cummortwealth Elec Consolidated Edison Crown Zelierbach.. Cuban Amer. Sugar Dunand Alkali poucas Aircraft Dow Chemical Dupont de Nemours hastem Airline Rasiman Кошак..... El Faro Nations
General Foods
General Motors
Gliddon Co,
Goodyear Tyre
0.10-20 Cat ou
6.17-18 Hayden Newport Corp.
6,13
4.61
Homerlake Mining Co. Ingersoll-Rand
Inland Steel Co.
458-67 Interchenical Corp. ........
4.37
Open interest: 1,105 contracts.
Contract No. 6. (domestic)
Int'l Burners Michines
Int'l Harvester
International Nickel
401
100%
October
December
July
October
054%
3131
Oate
July
Intonational Paper,
1000.
at Tei. „Tel_.........
3571
John Danville Co.
AD
Ryo
Kansas C. Power & Light
July
0.01
Kerncott Copper ...
September
0.03
November March
0.00
Idggett Meyers Tou. Co. Lockheed Aircraft ....
6.50
September
6.70
Loews
201
Spot-(conta per lb. cil NY
Lone Star
Opening
$1.05.
Uraled
ex-duty Open interest: 3,301
0.63
(All
contracts.am
Flaxseed
July
Tresa.
delober
133
December
Singapore, June 12. However, Britain's exports of Brokers today quoted the fol- machine tools showed a further lowing stock prices: Improvement in April and wore
£100,000. The Batu Lintang Rubber Co.
worth nearly four months total of £420,000 Briti almost three times as much as was shipped to the USSR a year ago.
Ltd.
Dotzio
$1.00
$4.00 †
Petroleum Syndicate Consolidated
Smelters Ord,
3 Fraser Neave Lid Ort. .. Textile machinery shipments Fraser & Neave ita cum. were also higher in April Gammons (Maya) Limited 11.10
pref £138,000 against mil Įpat April. Upngkong & Shanghal Bank-
But the year's total to date is ing Corp. still only 40 per cent of the rato Hongkong in het
Kumpas "Ltd.
a year ago, azul, expressed at or Cuala Kampar Ti antial rate, in only 75 per cent | Zinas Rubber Estaton of what was shipped to the Malayan Breweries USAR in the whole of 1960 New Berandah Rubber Co. (£2.1 million).
Petaling Tin Lig."
Singapore Cold Biorego true.
Eleptalenk - machinery -ship Rackow Elatai ments were only some se per Trading cent of their lovely at a while gripmond dry April were United Euribors
Woarna BrOR, VALAM hardly to pec ont, of April Paka Seva 1 Gronder) - (33 12500
$550
Ga 2015
6814
heavy
Their main trouble is that while the gold which the miner sell fetch only $35 an ource--- same as back in 1934-their coole have doubled and the profits of most them are very modest, This buying lifted Free State gold more than shillings, but the gain si the close was only 3 shillings.
The index of gold shares is now around 74 compared with 94 early last year.
DEMAND
was
even
NEW ORLEANS
New York Foreign Exchange
New York, June 11. Closing rates were:
Canada ..... England of
unonical
30-LAY 90-days
23.453
South Africa Uruguay
1.04
2.78 29/32
274-2.70
1.78 21/12
1.78 1/10
2.70 3/14
2475 -United Press.
London Foreign
Exchange
Prices of cotton futures closed today as follows:
Spoe July
30.10
October
་ཉ
25.40
New York
34,03
Montreal
34.03
Amsterdam
December
March
May
July
October
LIVERPOOL
Cotton futuro
London, June 11.
Closing rates were:
Brumala
Copenhagen
||Frankfurt
Paris.
Stockholm Vienna
closings, in Zurich
pence per ib. were as follows:
2.781-2.78 15/16 2.65 9/10-8.06 11/16 10.04-10.05} 140.072-140,621 19.4334-19,433 11130-11.224.
9342-204
14.4045-14.00. 72.37-72.00
13322-13333
Other unchanged.--United Pron.
LONDON METAL
PRICES
London, June 11. Prices of invints closed today in stocking per long com as fol-
·low:
Cement Co. Lowenstein & Son
McDonnell Alternit
AUKIPU
Btock Exgo.) ............. Megabi Iron Corp, Minnesota Mining Madon Development Monsanto Chemical Co. Montgomery Ward Motorola Inc.
National Cash Reg. A National Dairy Prod. National Lend
National Steel Corp. New York Cenimi Quin Mathieson Dila Elevators
wearilinois Clam Pasile Der & 100, Pan American Alkways Baramunt Pictures Parke Davis Co. Bygaru Seligy Peptor 700
291). Panny Salk "Co 700 Filip Morris
Procter & Gamble Co
130-140
$13.40m
WINNIPEG PRICES
Oll shares were in tremendous Shell Transport demand. Squred 14 shillinga to a new peak of 214 shillings, acconi- panied by Royal Dutch, up 13 sings 9 pence, also to a new peak at 23 sterling. British Petroleum rose 4 shillings and Burmah 2 shillings.
Industrials had a long list of smell gains; only feature Unilever N.V., up 9 shillings û penec. British
Governments Winnipeg, June 11. dull, down by 1/10s or Prices of grain futures closed 3/16s. today in cents per bushel as fol- Icws:
Chinese
were wanted and showed Vaing of 14 or BA sterling. Japanese sud, German were Idlo and featureless. Dollar
marked zlocks were down with their premium down
to 8%
Press.
per cent.(3nited
Exchange Rates
麵
Burtne was done in the local 234-253
unofficial exchange market this Canadian, wheat urport: No. 3, i morning at the following ratos:~,
30% non-IWA 1521⁄2 cents; No. 5i Va. dollar (per $1)
1332 cents-United Proso,
NEW YORK METAL
PRICES
New York, June 11. Prices of metal futures clóood- today in cents per lb. as follows:
13.40
Sterling notes (per 41) Australian notou (per (21) Indonesian mušlah (per 100) Glam fical (100)
apore (Biralte)
NAMESAKES
6.50
Answers:-1 Stupidity, 2 Ridi- culous, 3 Daink,
* Jopes, Dinky, 0 Dunco, 7 Caper, 8 Tipple, 9 Clowning, 10 Book, 11 Grin, 12 Laughter, 13 NonICERO, 14 Comedy, in Chach, 10 Jolees,
Dance, 18. Knowledge.
Sir Andrew Aguecheek (from
TYPHOON MAP
With Latest Amendments
$500 MOUNTED $49 OHMOUNTED
South China Morning Post Ltd.
HONG KONG & KOWLOGH
$3,10
$7.47T
DOS
*3-month Capper spot
404
December Barley
July October December
Copper
...רויד
June