THE CHINA MAIL,
THURSDAY, JUNE 27, 1957.
TRAD and COMMERCE SECTION
THE BILLION-ZLOTY QUESTION COTTON FUTURES
What Does The Polish Worker
Live On?
From FRANK MacGARRY
Warsaw, June 26.
NGKONG RALLY STOPPED
TOCK
HANGE
Ou Correspondent Burne Bernismounted
SHORT ON
WALL
STREET
New York, June 26.
A modest stock market rally was stopped
on the Hong-short today with news the Soviet Union had agreed
to a new American disarmament proposal.
to
this up-
morning's
A billion-zloty question for the Polish Exchange Government: What does the Polish worker live proxin $450,000. Noon on after the 15th of the month?
quete and the 1115
start
1033
The government is worried because every single zloty paid out monthly in wages over the HANKS Sebres counter of the National Bank of Poland returns through the bunking, system, mostly by way of SHIPPIN socialised commerce, by the 15th of the month.
CHATTER
ON WALL STREET
New York, June 26.
that based
Orvis Brothers & Co. says
on
Ginoon
INSURA
Warring DEKS, D
1. What
402)
LAND. E
1K
In theory, the Poles live for Providen
nest
the month the nothing.
of
In practice, they spend, on twice the purchase
amount
L
lly receive in wages from the Humphrey socialised enterprises. AndRUBBER only 10 per cent of all pur- chases are made by people who are in what private enterprise Where is teft,
Thefts
Tie common bellef in that the small for two weeks in every month,
راز
Saler
The advance had been a small one, on light turnover, with just a few features in the aircrafts, televisions and miscellaneous issues.
Sears, Rosbuck & Co.
The Inter selling generated no | Radio Corporation ..... more activity and volumo
for Republic Steel
Reynolds Metal the elon totalled only 1,870,- 7.78 000 shares, lightest since April 5, compared with a 2,000,000 shares total on Testiny.
1.80 3500 G
1500
441
10%
13.
Announcement that Ruania
15.40 1500 10.30 had agreed in principle. to a
31
GT 1030 American proposal for moth
300 10.00 balling ships, planes, tanks and
Shell Oil Co.....
sint Reg
Sinclair Ou
Paper
Bocony Mobilo
Solar Aireraci
South Puerto Ileo Bugar Southern Co. (The) Southern National Ga
204 10.00 uro in a move toward East-Standard Oil of Cal.
10.00 West disarmament. raised question of spending cuts,
224
1.2 1.433
Amalg Trust UTILITI Tra Yaumati
101 100 103 C. lacht 185 1850 1000 18.00 Electric
20 7:00.00
20) 20.00
1.53
Mac 10 10:50 "J'a
ININSTAL
volume on dealings the re-Poles live on the proceeds of ment
cent price setback appears technical.
E. F. Huttun & Co. lists hot air Weather beneficiaries conditioning and beverage stocks such as Carrier, Fedders Quigan, Coca-Cola, Canada Dry, and Pops!-Cola.
IMPROVEMENT
thefty
ак
factories from (One zloty is offcially shopei. worth about 1/104.)
These theft are said to run into billions of zlotys a year
of the shortage of Because commodities, everything in Po land has a grossly exaggerated Ivalue,
The Polish worker do not "blue" his wages in wild living. He cannot afford to. The aver- Bache & Co., analysing Grey-age working wage is about one hound Corp.,
says this year's thousand złotys a month,
1
net may be only slightly higher worles work for a shirt, cost- a year in 300 zlotys: over a fortnight than the $1.27
carned
inonths for a suit, 2.500
ago but looks for improvement for a pair of shoes, G00 złoty later on the basis of the con-2 pany's exparkling earnings buse.
for
Harris, Upham & Co. locks net of 53.85 a share felt Bucyrus-Eric in 1957 against $3.05 in 1956 and anticipates better than $4.50 by 1958.... Colliorni Packing 1957 nct in projected to $a from $5.67 previous Ascal your.
E. F. Hutton & Co.'s analysis
of US Steel, estimates 1957 net
as high as $7.50 or better against $0.01 in 1936.
PAMPHLET
نہ میں
Diminick & Dominick in an illustrated pamphlet on Union Carbide, says the company's Burch, construction, and ganisation plans give it opportunity of maintaining an annual 10 per cent rate of growth and triple net sales and proit by 1907.
te
zlolys. A pretty average dress
for Ja wife costs hatt month's work, 500 złotys.
Making Money
A
A month's food costs the whole 1,000 złotys, anyway. There are other
Ways making money, Poles
exiled
Rope SPORES, I Daley Watien -18 11:0 COTIONS Texti
..4.00 42 Nanyang MISCELLAN Ch Pub, 175 Vibru.90. INVESTMEN Allie
17/N): 20.30 1500 x 28.40
126.40
200 or 3215
Робука ка 0.05
4
....00 4.75
STANLESS
STEL PRUESS
annac
11
new
im-
MiddletonDhb. Jude 20.
Armeo cal Corporation has patented peas for proving hove ability and increasingall yields of stainless sa
As a resuot dies at the
in the West help by sending firm's Bullre rks, it was
Aircrafts
Standard On of Ind.
WORLD
RUBBER
MARKETS
Rex
Now York, June 20,
rubber futubda today
LAPSE INTO
DULLNESS
New York, June 26.
Cotton futures trading today lapsed into dull. ness following a short-lived period of buoyancy at the opening.
Initial gains up to $1 a bale were gradually closed off 5 to up 10 points with elitninated, although the market showed more re-
sales of 120 édtitfucts,
July
Sept.
NOV.
Jpn.
Mar.
May July
33.10 31.08.
31.30
30.99
Standard contract closed lower to 10 points higher with no sales, reported.
July
Sept
Nov.
2314
Jan.
Viar.
Μαν
32.45
32.10
31.65
31.70
31.25
50.58
Most of the terminat markel in #business was represented
switching 4724 || Intra-dealer
opera- 40tions, which accounted for 100 69 of the contracts done, Sept/Nov. were swapped at 20 contracts pointa difference with a small quanilty of Julys exchanged for physical rubber.
Southern Hallway (Com.) Standard Bronch
the
6tandard Oil of NJ,
Steep Rock (Toronto Exge,i
C3% 219
Sterling Drug Co.
Stokely-Vans Champ.
Stulebaker Packard Corp.
Aircrafts, which had ghing Tanging over a point were pared to fretional improvement.
Swift & Co.
Texas Co..
Tide Water Awm, O
Tune Inc............
Twenty Century Fox Film Union Carbide
Leading steels declined frac-Union Pacic Hallway
tionally.
United Ahemalt
United Gas Corp. U.S.
Foil B
average US. Gypsum
Ruits held a small RBÍN--.44 point to Utilities were off .33 point to 09.37.
Metals had losses or so.
116. Rubber
145.30.
US. Line Co.
V.9. Smetting
US. Steel
Warner Bros.
sistance on dips below the previous close.
Mar. May
Day trader covering and a scattered trade dethand fitmed prices again to close the 1st net 1 to 13 points higher. Opening prices were up to 20 points, New Orleans closed up 12 to 14 points.
The Jr'sL buying splurge. United Press.
for
emanating from commission houses and the trade, Was coupled with the absence of July delivery netlees, plus the rapidly dimining chances any cotton price legislation this sesion and crop uncertainties.
A lack of low through buying brought some resolling by
Some crop recent longs. students thought that the hurri- can "Audrey" first of the oes- 500 in the Cult, might bring un- nexxied rains in the threatened areas of Texas-Loulitate, but they helitved the season was too early to cause any irreparable
In the United States, the average price of one-inch cotton at 14 designatext spot markėts was unavailable.
Salts totalled 7,021 bales.-
LONDON
OILS STRONG
Market displayed firmness in Jam trading was relatively was oils.
the foreport of the day, but with the delayed arrival of Indo nesian cabled offerings, buyers 28% backed away again.
33
30%
Reported offerings included ont
at 313 ribs June/July cent: cost and freight, some 447% three
ambers werd offered at 20 1⁄4 cents and four ambers' at
41
2 20 cerits, June/July, cost and Freight, Spot No. 1 Res was 4 quoted at 32% cents. United Press.
SINGAPORE
of a point Westinghouse Electric
Western Chloe TBL Co West Va. Pulp & Paper Woolworth
Olls were narrowly irregular. Motors were slightly easier.
Of 1,182 Issues traded today 423 were bigher, 507 lower, 232 unchanged with 00 new lows set, 21 new highs.
NY Stock Exchange bond volume was $4,910,000.
Stock American
Exchange volume was 740,000 stuures,
Closing Prices
Aiden Inc. Acy Allied Chemicals Allied Millis Inc.
Allis Chalmers
American Airline
American Cable
Corps.
Radio
American Cyanumide Co Amer. Forgn. Power Am. Gas Le
Am. Macht, beca
gifts to the lock at home for sale, found thatrage of boron American Metal ... These are sold for the people added to quite curomium- Atorican Solting who receive them by hops nickel known as "konis."
Am. Sugar net. andchum-man-American Tele
olk Meatly Im-American Tab. is a magnificent proved theirt orking pro-
Arneonda Copper Armco Steel
In one I visited is
display of English commodities Dertie
perties. Laraf studies Armour ....
Ating Cena. Mining in Baldwina-diam.
Ballunere Ohio.
from soap to cigarettes, babieshowed the feet on hot woollies, toys, and even carpels ductility was marked
at prices two or three
the range 2,0% 10 2,400 Denetical Finance re-times higher than in England.
degress Fahnet
Bendix Aviation Corp. People stand and gape at the
Bengurt Cans. windows alt day. But must of them cannot afford to buy, The owner gels 80 per cent The of the price received. people who run the komis gel iwo per cent, and the govern ment eight per cent.
Glore, Foreign & Co. in a 40- page pamphlet analysis of Inter- national Harvest, says the out- Jobk for the second half of this year is defuilely brighter and desplie the poor start it is be- results Hoved the full year's
will approximate those of 1956.
Reynolds & Co. looks for $3 a share for US Freight this year against $3.60 in 1900.--United Presa.
New York Sugar Market
Now York, Juno 20.
futures World No. 4 stiger clogod today unchanged to 5 sales of 300. polits lower with contracte.
Domestic No. 8 sugar closed unchanged to 2 points higher with sales of 43 contracts,
up,
Black Market
CHICAGO GRAIN MARKET
Chicago, June 26. Most grains were irregu- lar at the close of the Board of Trade today.
but
London, June 26. One really strong section Royal Dutch TOLO 2 sterling to 22 sterling its earlier 1967 peak was 23% sterling
Shell 0,654 while
gained 209 shilling. shillings to Volume Open Interest compared with its recent
peak of 218 shillings.
remained at
quiet. Spot interest had con treats for sale at the 35,47 et line, Open July contraels today totalled 55,800 bales. The certif caled stock BRICS Mali July October December March May July October
December
Total
7,300 03.600
10,300
173,000
10.200
234,100
4200
132,300
0.100
127.400
14,400
87,000
10,200
118,000
4,300
11,700
4
British Fetroleum gained 2 shillings ℗ pence, Hudson's Bay was tho dominant figure; 1th
73,300 921,400 bales shares jumped 3 billings to-u
new high of 263 shillings.
NEW YORK
Unilever rose 1 shilling 9
Prices of cotton futures closed penee while Unilever NV gained
today as follows:
The market opened unchanged eased during the day on some further state bull avling. Towards the close the market steadied alightly on reports that
Spol July Russie demands for withdrawal October of troops in Korea..
December March In- May July
There was some factory terest and amali lower grades October enquiries from China. Futures; December
No. 1 rubber per lb. July 014-91% No. 2 rubber per lb. July 91-014 No. No. 4
"
Spot rubber unbaleu. Blanket crepe
39.1
20.90
34.97
33.14
39.73
33.76
NEW ORLEANS
1 shilling 3 pence. Borax, Tur- ner and Newell, Bowaters and several others gained a shilling.-
IDLE....
Forelgh bonds mostly Idle Dolią: slocks were mirked dowi with their premium down
Prices of cotton futures closed per cent to 7 per cent,
July
Aug. 17-2314
001-
21 07-88
today as follows:
PI-2134
Spot
03-24
by
No. 1 pale crepe..
08-100
October
LONDON
May
July
The
rubber.
market
Was
October
lead with spot market up
December
After early advances wheat, the market settled back
5 to alightly below previous closte 0621 at mid-morning,
357
Wheat futures for March and
25 May recorded new highs for the 3/10 to 27-1/10 pence. Prices: 60 season but profit-taking and No. 1 Rus spot
some Hedge selling caused a Settlement house term: ** decline.
Commission caused an advance in soybeans. | Jan/Mar.
Trade
was rather inactive General takeli, eif hasti, pos 18 until the usual mid-day" spurt,
December
March.
LIVERPOOL
31.200
35.81
Turnover at 9,779 bargains, was the lowest for two months,
33.12-15
34.30
34,10
34.19
93.77 53.75
Some of the British Govern- ment stocks Have fallen through what is called their "Sucz lowe" and are at the lowest levels seen since ita trasit of 1020.
SAO PAULO
future closinga, per kilo werd
30.80
$1.00 43.00
But the markets closed with- out the government having done in something about it.
Gills were mainly unchanged except one or two which cased 1 of 1/10th-United Press,
NAMESAKES
Answers-1 kennement, Flowers, 3 Timbre, 4 Zeal, Ball, Duslinti, 7 Pronounced, in 8 Volce, 0 Eletion, 10 Higgins, as 11 Training, 18 Palate, 13 Lady-
like, 14 Speech.
Eliza Doolittle (From Shaw's "Pigmalion").
27-273
house buying v/Dec.
Aug. Sept. July/Sept.
271-2714
Cotton future closings, pence per lb, were as follows: Uld contract July/Aug.
Oct/Nov.
Dec/Jan.
Apr.7June
Mar/Apr.
May/June
July
New contract July/Aug.
Oct/Nov.
28.75
Aur
Some foreign demand was re- ported.
Estate crepe thin Aug.
Dec./Jan.
20.00
thlek Aug.
Mar/Apr.
May/June
77.00 23.00
604
AMSTERDAM
Wheat closed (new) off
to
up cent; Soybeans closed up
4 to 2 cents.
Cat. Tractor
per kilogram,
Celaner_Corp.
155
Wheat No. 2 red
follows:
The rubber market was steady
Cotton today. Prices closed in guilders cruzeiros
July follows:
July
4.5
C. 1. T. Financial Corp. Case Manhat. Bank Chrysler Motorn
Spat
40T
July 2001) 2001(1) 210-82012
Sept,
Climax Molybdenum
Det.
of
Colgate-Palmolive Ca
Mor.
200
2127M 210 20-419%
Oct.
No. 1 rubber
2.00 doze
Dec.
No. 2 rubber.
May
Corn, No. 2, yellow
Spot
Armco salihe quantity of boron requintlo significant improvement y was ex- tremely ming
from 0.0001 to 0.8 p cent, de- pending on ETON.
The boron
Jarnicled in in vialety of urit including
oxides
ag standard neki ngene cumpany
effect mmable
With the increasing number on on ingatre, grain
of foreigners permitted into the country, t immense bisek market in currency has sprung On I, the pound fetches from four to five ilmes It offelni valuo,
Black murkeleers are offer. Ing forelig visiters lo Pozhan Fair all the
zivlyn they need in Poland if they will promise when they retum home to send, as gifts, razur bindes, elgaretten Ind other highly saleable goods blick market value złotys received,
152:
你
Bethlehem Steel Hoeing Airplate Borden (The tv. Burroughe Add Machine Campbell Soup Co. Canadian Paciße R. Camo (J. 1) Co.
Colomblan Carbon Co. Commercial Credit
content had four to date Consolidated Edison
gydl-metallic Commonwealth Elec. xep that it pear to make Continental O11 of Del. zormal
Crown Zellerbach A
more Cuban Amer. Bugar molleable.-Ca M} Special.
Diamond Alicali. Douglas Aircraft Dow Chemicals »... Dupont de Nemours
NEW YOK METAL Fan Airline
FUTRES
New tk, ne 25 Prices of me futes closed
to the follows:
today
of the
Pounds and dollars collected are, carefully hoarded. Poles are now allowed to have holidays abroad. Their zloiys are use
les outsida Poland and they cannot be re-imported,
But with "luck" pounds and dollars, Poly can buy a pas able seepnil-hand citr, drive it home, sell it and enjoy a life of comparative security for a Failure of business in the raw few years. market to come up to expecta-
The igovernment tients this week brought liquida-blind eye to the black market. tion By disappointed long. It is the stealing that worries although prebenda of trade buy the Canmunists most-Expro seg nedorit anted to cushion the service.
dodlink
Contract No. 4 (world)
Jub
Deplechtig
turns
+
a.b↑
1,03
457
$52
New York Foreign Exchange
tipotente per ib, fob Cuba) 41
Eged inbezint: 8,554 contracía, Cortened No. 6 (domenilo)
17
Berlember
0.00
November March
900
B,15
30-y DO- Aurinalle m
5.39 HOT RO
Bouth Africa
(beats" "per, fi, ele NY :Open Internet: 1,478 contragia--
'New York, June 26.
Closing rates were Decado jungand omelai
1.09-1/16
ת!
een pet lb,
Lead June an
July
Pin
Zine June
July Copper Juna
July June July
Eastinan Kesluk
21815-214%
May
July
El Ph National Gas
Sept
Family Finance Corp.
Firestone Tyre & Rubber
Qata
|Ford Motor ...
General Electric
July
Sepi
General d
0013-11 4776-1
as
General Motors
Gen, Pub, UNI
Soybeans, No. 2, yellow
Getty Ou
Spot
161in
Glidden Co.
July
Goodrich (B. F) Co.
Sept.
23417-4+ 2.3121-14
Goodyear Tyre
Nov
Jon.
23014-16
(Strait
Ünk] Press.
LONDONMI TAL PRIES
Herden Newport Corp. Homestake Mining Co. Ingersoll-Rand
Irunnd Stret Co
Interhemical Corp.
Int'l Esens hitchures Dili. Warvester International Mickel
International Paper In{7 Tel Tel John-Manville Co. Kansas C. Power & Light Kannecott Copper ..
Mar.
05! Hurley,
B1%
Бров
41
23 | Köw York Hour
104th 200 1. sack ......
104
50%
407
10011
Liggott Myeri Tyb, Co.
an
today hoed Afteraft
Loo, Jube 20. Prices of me clo follows:
sterling per long on
Tim
3-month Cupper, sput
3-montli Lend 2nd t
Zine and half
wyer
Leews Incorp, ......
Lone Star Cement Co. Events & Bone.
Sellern Donnell Aircraft
70114
Block Exre.) ..........
750 MEDE fron Corp.
Minnesota Mining
Katman Development
Momento Chemical Co. Montgomery Ward
Motorale Inc.
Unik: Beg, “A” Press
Exchange Rates
R.TD 7/32 2.78-29/31 Business was do A1/32 Unofficial
mark
7/10 Hadining at the 8.7643/18
U.B. douar (per. Fig 2.799 Sterling rate (por
Australmin noter. Un “ Indonesian rupible libu tikai (por 300 cl
London exchange rates were unavailable.-United PreOS,
Joe
Fallon Dairy Feb.
National Lead
New York Central'
Din Rathlemark
Otje Elevators
Oken-llinois Class
Pan Amerith, Allways Parariount Pete
thin Parke Davy Op.
Peniel J. C. to. Rong, salt, Co Prilip Morris
10.00
14.00 STEW
100-140/1
$13.80 United Press,
WINNIPEG PRICES
Winnipeg, June 26.
Prices of grain futures closed conta per bushel as
today in followe:
Okla
July
20
103
1976
נן
No. 3 rubber
No. 1 crepe
2:30 done 2.54 buyers 2.77 buyers
-United Pres.
Singapore
Stock Market
Singapore, Jime 27.
Brokers today
quoted following stuck prices:
Balu Lintang Rubber Co.
Ltd. Brim Bomeo Petroleum
Byndicato
Consolidated Tin malteri
On.
Fraser Neave Led On Framr & Neave 7% cunts,
__pref.
the
Opening $1,16
54/
Graporsa (Maaya) limited 140
Bokong
Beaking Corp..
Hongkong Tin Ltd.
Klamper Lid.
KUM Kante Tiri
SHANK
Lanas Rubber, patates
Malayan Breweries
........
New Berandah Rubber Co.
* La
| Prising Tin Llu.
Radion Slotai ju
Singapore Cold Storage Buaile Tradta”
#nship
United Engineers Ord.
Wearn O.
Jexdly
Special.
$17.26
12.30
PRODUCTION UP
Bona; June 20.
The Index of industrieš pros
Jučiškes in West Germany emio fo
PHOON MAP
With Latest Amendments
$500 MOUNTED
four
$43NMOUNTED
392 in May from 27 Apr South China Morning Post Ltd.
This was only five points
| Ibw. The mecord · figure of BST
reached In November, lost year,
ullars/whtat ampere No:-3; 4h18 Miflstry of Espnemide the
101 :: No. 5, 1274 cents, rounged, here. --- China Mail
Special
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