THE CHINA MAIL, WEDNESDAY, JULY 24, 1957.
TRADE and COMMERCE SECTION
SHORTAGE WALL STREET
OF RICE
IN MALAYA
STOCKS
EXPECTED HOLD STEADY
Kuala Lumpur, July 23.
The Malayan Ministry of Commerce and Industry sald today there would prob-i ably be a rice shortage in Malayu early next year.
Inchie Ismall Mohammed AB, the Controller
of the
Trade Division, said this would result
from the late planting in Thul-
this year land
because of drought.
AGREED
New York, July 23. Stocks held steady today in the face of neglect which dropped activity to the slowest pace since June 28.
With a continued dearth of market news, at- tention centred in the so-called special issues, many of which gave ground on realising after recent sharp rises.
WORLD RUBBER MARKETS
New York, July 23,
Re: bber fatures today elus: 10 points to 7 points lower willı šates or 83 conifacts.
July
November
September
January
March
May
Juty
Standeril
13.00
12.03
33.40 2.30 31.00
cintract closed 101
COTTON FUTURES
IRREGULAR
IN NEW YORK
New York, July 23. Cotton futures today settled back irregularly in another extremely quiet session.
Closing around the day's lowest levels the points lower to & Helts babe list was off 10 to 17 points net. The market opened off 4 to 8 points. New Orleans closed off 8 to 17 points.
with no reported.
Móvember
July
September
January
March
May July
Chief leaders which
Was
m up
feature zinong Hic, Standard Oll of Ind. Standard Of SI NI Chrysler Corp Sterp Rock Toronto Exge.)
11z poins 1 Sterling Drug C5.... day's heaviest
52
117
DEL 1015
1316
27
13
20
1222
20%
02
34
ke agreed
Malován$877, on the with Inders who yesterday predicted turnover. the pile of rice would rise - further here because of the Thai
Government restrictions on parts and increased prices there, The Singapore Government a followed sult with a tem porary suspension of all perintis in export rice.
sald
Inche Ismail
Malaya would need about 00,000 ton for the Arst two months of Lex year. The shortage woult ise Jelt most during these months.
Late planting in Thailand this year would mean that new crops would not be available ng usual at the end of the year--Reuter.
LAY-OFF OF MINERS
Kitwe, July 23. Northern Rhodesian Copper mining companies
today
Following in the active list wire two joint upside tenders, Sunshine Mining and Schering
Corp., down
1 point to 1234 and dia points to $85%, zespre- tively, on realising.
Bullish
Turnover for the sension 10 talled 1,840,000 patel with 1,950,000 on Monday,
The bullish
| Stokely-Van Camp......
Studebaker-Packard Corp. Sarift Co.
Texas C...
Tite Waler Avan. Od Time Inc
Ty Century Fax Film
Union Carbide
Untan, Peeine Raliway
|
|
United Airerall
United. Con Corp.
US, Foil ""
US. Gypsum
1.5. Line Co.
US. Rubber
US. Smelting U.S. Steel
Warner Bros. West Va. Pulp & Paper chotes com-Westinghyure Electric
Western Unkın Tel. Co.
element construed woolworth the Hight petivity at a favours able indication at the market I wirding for a further attempt le puth through
to record
high in the industrial average.
American Stock Exchange voluine Tome 16 840,000 shares
$20.000 frem
chures traded yesterday.
NY Stock Exchnage bond volume was $3,050,000 again $0,000,000 yesterday.
Dow Jones closing averages
| were:
30 buchstrials
315,01
20 x
15232
15
7021
Cs rivel
&
170
10 50
Comma, future price trufex :
159.51
began laying-off Closing Prices
various categories of Euro-
pean daily paid employees Abik! Chements in line with their decision | Allled Mille Inc.
to close down the mines in
an orderly manner,
This followed the refusal of rock-breakers to work a full eight-hour shift on Saturdays.
The General Secretary of the Northern Rhodesian European Mineworkers Union, Mr
Ben Petersen, said it appeared that within a few days operations on the mines would be closed down..
PROCEDURE
A spokesman of the Chamber
All Chalmers
American Airline...
American Cable & Nadia Corp. Ameren Cyanoke Co,
Amer. & Forgen. Power
Aui. Gar & Slectric
A. March, dry. American Motat American Smelting Au. Sogar Ret. Amorizin Tel że Toi Anevient Tab. "D" Anaconda Copper Anne Strel Amour
Aliza Cap MYJOE Takiwhy-Lima-1am. Bore &
Detichem Sevi
$113
29
23
S
157
it
42
20
2007
173
40
62
42%
United Press.
CHICAGO GRAIN MARKET
Chicago, July 23, Grain futures continued
to show sharp declines at
32,00
37.60
32.45
31.00
a
scale-down
routine and other
HONGKONG
STOCK EXCHANGE
Piga 8
CHATTER ON WALL
STREET
New York, July 23. The market from A technical viewpoint rc-
Our Own Correspondent funds to become over- Business done on the Hong-bought, according to Ed- kong Stock Exchange incrning amounted to approxi- for Walton & Co.
this mund W. Tabell, analyst tions and the morning's transte- mately $740,000, Noon quota-
ons:
BANKS HK Bark INSURANCES Undoa.... Lombard SHIFTING
Buyers Sellers
1600
Aales
&
Sheprsen, Hammill Co. suggests A policy of general investment caution seems most advisable at the present time, although many individual ne are attractive,
Reynolds & Co. looks for 2578 # 9.15 some bumpy roads ahead within
30 days for the maket,
.15
1550
144,10m 2,300 138,100
na1
110,400 4.360 3,400
121.300 1,500 28,600 22,700 068.100 bales
Wherlock ..
8.10 0.20 1550 1.30
2500 A
DOCKS, ETC. K. Whart.. Provident
100 40
12.10 12.30 3400
34.08
H Hotel..
13.70 15.00 1700
34.00
14:40
30 1600
TOCO
LAND, FTC. 33.80
H Land..
Humphrey
A gradual flow of hedge sell, March Light shipment offerings unding, credited portly to shimmer May July stendiners of the
against primary hedging
new crop October markets imparted a overtone of ginnings out of the southwest, December
Total stendiness.
But traders were found hesitant pending publication of demand from mills
NEW YORK Price: of cotton tutures closed Dock the June consumption figures. trude account. Opidon varied on the probable
Ring
today as follows: observers, however, Spot offtake last month. Guenses thought the volume was a little October ranged from 120,000 down to belter than Monday's trade of December 118,000 tons, compared with 22.400 bales, one of the slowest 126.000 tons used in May,
days in 20 years, Traders on the low end of sizike- the range recalled, the bound ivation in some mid- western tyre plants last mouth, Mernwhile, factory demand for spol markiet continued on the alow side. Spot No. 1 Ras was quoled at 33 cents.
AMSTERDAM
The rubber market was quiet- ly sleady. Prices clad in Fulkers per kilogram, c.lt, August as follows;
No. 1 rubber
No. 2 rubber
No. 3 runber
No. 1 crepe
SINGAPORE
3י
261 buyers 2,63
2.22 mo
quiet awaiting
The market opened around the previous levels on
market with deaters tews from Akron.
Anouncement of an agree men being reached sleadied the good buying was lovel by profit was some fair
rmarket
net at higher
but
the close of the Board of tokers. There Trade today in a carry. Interest for lower sheet with over of yesterday's liquida.sellers reserved. tion.
the
Prices
were lower at opening with Inertased solling and some hedging moving the market to further lows at mid- morning.
Wheat and soybeans showed some of the sharpest dvelies for the second straight day Wheat was off more than two certs a bushel and soybeans showed losses of more then three cents during the trading.
A further decline in whent was stopped at mid-morning by short covering. Liquidation of
54 the September delivery helped
lower whezl
10%
bi
1st fleial Finance
Bencis Aviation Corp.
Bengers Cones.
432
BUD
4909
#M
helg Airplane Horde (The) Co. bugs Add Modbus Curling Paille R. Campbell Soup Ch. Ce ( 1.) Co. Cat. Tracter.... Lelate Citys
of Mines said actual figures of men who were being laid off were not yet available as proc dure differed on various nincs. Yesterday, soine of the com- panies gave 24 hours notice to rock-breakers in their employ and other companies are eX- peeled to follow suit today. Cax Molytalentam
thee Munat, Bank
1. 1. Financial Corp. Crysler Matris...
Colgate-Palslive Co.
Mr Petersen said this morn-Columbian Carbon Co. ing he would be having talks on the position with the African Mineworkers Union thly after
noon.
Meanwhile, he has postponed his talp to the United States. which he was to have made at the end of this month. until problems on the copperbelt have solved, China been
Special,
Commerent Credit Commonwealth Elec, Consolidated. Edison Continental Oil of Del. Crown Zellerbach Cubon Amer. Sugar
ond Alkali
Douglas Aircraft Dow Chemical Dupont de Neundes Eastern Airline Mail Fastrin Kodak
INCREASE FOR
RUBBER WORKERS
Cleveland, July 23. The Goodyear Tyre and Rubber Company and the United Rubber Workers have agreed on a 15-cent an hour increase for 24,- 000 employees.
General Foota
com-
The smallest volume for a full session In records of the modily exchange athministration, which go back es fer ex 1937, was 18,500 bales, recorded on August 21, 1940,
Scattered
Scattered solling also reflect- ed the morU favourable aspect of crop and weather news end a disposition to lighten commit- ments pending developments on farm legislation.
Prolonged duliness in textile market also restrained buyers. However, some quarters thought! the cloth market had
a fem undertone and that low in- ventories held by wholesalers, cutters and retailers could lead full- an early revival of scale fabric buying.
today as follows:
Spot
October December
March
LIVERPOOL
3143 Redity
34.63
KUBUER
..
واند
1.43 1.471
W. E. Hutton & Co. es- 12.30 timates 1957 net of Robertshaw- 18.70 Fulton controls around 3,50 n 36 shere against 2.82 in 1050. 10.40
Thomson & McKinnon, noting 1.50 1.825 2000 n 1823 the Erie-Lackawanna-Delaware & Hudson merger laik is being 500 2430 kept alive, 500 24.40
warns of a weak 1000 2416 spot in that Erle and Lakanna 300034.00 any competitive, especially on
24.00 34.70
400 10.89 freight."
1000 16.70
Harris. Upham & Co. estimates 1000 18.00
100 12.60 Pepsi-Coin 1957 net at better 10002911 than $2 a share ngainst 1.50 in
020301956, and
notes the dividend could be raised from $1 a share to 1.40.
1000 29.30
103 / 23 700 @ 20.30 500 26.10
400
Arthur Weisenberger & Co. has reappraised Trans-America In view of the impending break- up on this company. Its averag? three divestment values
March Mny July October
34.40
Amai
37.47
Detember
UTILITIES
33 43
NEW ORLEANS Prices of cotton futures closed
Tram
Yaumatt
104
35.400 C. Light
10.00) 18.70
31,00
34.07
31.02
May
(Ita) 12.00
33
24.03 Electric
July
31.40
October
13.61
December
33.14
Tel.
... 29 29.00
Macao É... 10!$ 10.00
20 20.30
Cotton future closings.
July/August
pence per lb, were as follows: Old contract
INDUSTRIALS Cement
334
20.05
Доро
13
October/November
28.30
ATURES, ETT
24.57
Dairy
..... 15.20 18.20
20.73
20.03
Watron
11.00
20.03
Emporium
8.55
20.00
Textile
4.40
$0
27.20
Nanyang
0.40
2000 7 14.
47.33
1500
SAO PAULO
2000
futures prices cruzeiros per kilo were as fol lows:
In
GLALANEOUS
2000
INVESTMENTS
6.45
October
27.10
Allied
4.25 4.55
December
20.10
March
20.en
40.00
40.30
December/Jantiary
March/April
May/June
New contract
July/August
October/November December/January MATCH/April Muy/June
Closing
צהבת
the
The Government weekly sum→ Futures were:
maty said cotton continued to No, trubber per b. Aug. 15-93%
make mostly process under normal Sept. 4-04%,
temperatures in Loui July Oct. unquoted slonn and the region cast of the No. 2 rubber ner ll. Aug. 1239
In Mississippi River. No. 3 bher per 1. Ang. 0214-9275
United States. the Harvesting No. 4 rubber per ib. AUE. 2013-0712
average price of one-inch cotton continues active in the lower at 14 designated Spot ruliber upbaled 021-03 12
spot markets Rio Grande valley, with older Blankel crepe........ 82-54 No. 1 pala trepte..
colton 100-104
making fair to good was 23.98 cents.
Sales totalled 12,143 bolts.- LONDON
development. But elsewhere in United Press,
The rubber market was very dull with 3/16 pence per lb. Prices
spot quati at 27 No. 1 Reypot ........ Bettlement u termi
Aug. Sept
2736-2734 2014-2011
27-77
277-2793
376274
27 buyers
27+279%
29%
era maricets, clf backs, ports:
Oct/Dre.
Jan./Mar.
Apr/June
Jaiy
Au Sept. Estafe crepe
this Aug.
Corn
Commission houre selling was brought into corn and soybeans with
. reports of favourable weather and crop news.
was off more than two cents a bushel in late sealings.
Foreign tando
Jimited
to the sale of 485,000 bushels of
US hard wheat to Israel,
Grains at outside markets |
mostly lower.
122
43
491,
ı:
7.79
wore
101
30
42
off to 1% cents.
บ
Wheat closed off 1 to 1 cents for old and off in 1
cents for new. Soybeans closed
Prices per bushel in cent
Wheat, old contract
July
September
December
2144%
*2102 210*2
Wheat No. 2 new contract
9pot
thick Aug.
United Press.
New York Sugar Market
New York, July 23. World No. 4 sugar fu- tures closed unchanged to 19 points lower with
| Texas hedging was reported in part of the south central and southeastern portions,
Month October
Deccanber
Volume Open interest
3,000 0,900
184,900
214,400
CONDITIONS
MIXED IN LONDON
London, July 23. Conditions on the stock market were mixed today. Sellers were disturbed by the labour unrest at home|
sales of 1,168 contracta. and the Oman events in
Domestic No. 6 sugar futures the Middle East closed 9 points lower to 4 points buyers furnished
higher with sales of 232
9-ontracts. July 2150 214(2) 25-275
El Paso National Gas Family Finance Corp.
37
Soptember
201
Firestrine Tyre & Rubber
100 á
December
March
Furd Mat
May
2109 22057 215-4 215%
| General Electric
7134
43
Corn, No. 2, yellow
General Motors
4310
Spel
134
Go Pub. 1.
U7
July
Getty Of
4
September
1599
Cliddes Cu.
30+
December
133
Goodrich (3. F) co.
Ztarch
100%
70%
Goodyrat
Tyre
ይሇ
May
120
Gulf Oil
140%
Ryc
Heyden Newport Corp.
10
July
12012
Homestake Mining Co.
34! September
2331
DS
Onty
Inland Steel Co.
July
439
September
652% 02-037:
Int inter Machines
342
Soy beraz, No. 2, yellow
35
007
Spot
100
September
November
247n 2403-14 201 247 25014240
Ingersoll-Rand
Interchemical Corp.
in Harvester International Paper
at Tel & Te John-Manville Co. Kansas C. Power & Light Kennett Copper. Laggett Meyern Tob. Co. Lockheed Airesult Loows
International Nickel
emant Co. Lowenstein & Sons, McDonnell Aircraft
This settlement, coming just | Lune atp. two hours before a strike dead line, would bring hourly wages
to an average of $2.54%1⁄2.
Stock Exgo.)... Mesabi Iron Corp. Minnesota Muning Mensanto Chemical Co. Montgomery Ward Motorola Te National Cash Reg. "A" National Dairy Prod. National Lend National Steel Corp. New York Central
The Goodyear settlement was alan Development expected to set a pattern for the rubber industry's other large products-US Rubber Com- pany, B. F. Goodrich and Fire
Com- stunc Tyre and Rubber pany,
who
are now also negotiating with the union.
RATIFY
A majority of the
branches
Oila Mathieson
Otis Elevators
Owen-Hilinofa Glass
Pacific GED & Elec.
Pan American Airways
Parke Davis Co.
Paramount Pictures.
Penny J. C. Co.
Penn, Balt Co.
the
Philip Morris
representing a majority of the membership must ratify agreement reiched.
The union's negotiating com- mittée, made up of
dyds of all eleven branches, re- commended approval.
Mr J. F. Carter, Vice-Preci-
Procter & Gambla Co, Pittsburgh Plate Glass Puhlicker Industrien
Fuadio Corporati
shell on Paper
Republio Steel noynula Metal Sears, Roebuck & Co. chargo of Goodyear pint Reg
Sinclair Oi Industrial Relations, and Mr Socony Mobliall LS. Budonaster, union preel- Holy Aircraft, the settlement a denih called "yed one" and voloed pleasure that it came in a "peaceful manner, "-----Chiña Mail Speciál
Southern
South Tue [THO) i..... Rico Sugar southern National G Southern fralway (Cord.). giandara Bhanda Biandard Qu of cal
402
January
March
125-130
New York Foreign Exchange
con-
Renner and technical replace- ment buying brought a partial Ccovery after the market drop- ped 27 points in the forenoon,
Selling reflected the Tower trend
In raws, emphasised Brazilian offerings and pros- peels for much larger world supplies next year. That con- bination helped to dissipate fears of
traders market Bghtness
sold.
to
The Europten biel crop will the available in the autumn, and since it takes about 30 days to move sugar from Cuba that aren, "the deadline for any now demiad is rapidly
ap- proaching," one commentator thought.
2416
110
May
Darley,
Contract No. 4 (world)
Spot
Sept.
4.72-74
New York flour
Oct.
4.03
4 lb. sack ....
$13.85
Jpn.
4:40
United Press,
Mar.
4.17
May
July
4.13
Sept
July
Oct.
Bpot cents per 15.
Cuba)
4,70
New York, July 23.
Open Interest: 8,473 achiropti
Contract No. 4 (domnito)
Sept.
5,80
Nov.
0.78
1.00-11/30 3.7016 2.10-5/10
Mar. Sept.
5.00
2.12EL 2.79
209X
.2000
Closing rates were: Canada England official
30-day's Do-clays
New Zealand
South Africa
NAER
Pakistan
70
Others unchanged
4010
491
15.00
undertone.
a
bat
good
British Governments charted Arm. Gilts in the market turned easier and last about 4 sterling. Among the industrials Imperial Tobaccc3 maintained
division and hopeful statement lifted the shares some 2 shillings 6 pence to 40/9.
Electrical Issues lost further ground but the leading misce). Janeous shares were steady. Oils were mostly lower except for Shell Trinidad which resë 3/9,
Foreign bonds were featureless; dellar stocks mostly fell back in step with Wall Street but the
17- premium advorced to United Press,
PAYMENTS
TO BE DEFERRED
Calcutta, July 23. Mr S. L. Bilgrami, Chief Controller of Exports and Imports for the Indian Government, said hero to- day that four countries, LONDON METAL | including ......... Britain
spot-icents per il elt 2-27-11/16
United Press,
London Foreign
Exchange
London, July 23. Closing, raten wezes
NEW YORK
Montreal
Amsterdam
Copenhagen
19.33/110.391
Othere' unchuanged
Zurich
United Presa,
NY ex-duty)
United Fress,
PRICES
· London, July 23. Prices of metals closed today in sterling per lor ton as fol- lowz:
Tin
foot
3-month Copper
dipot
3-month
Laid and half
Zira and half
July
Buyer
sellers
147 744
2.
DOLL
and
Japan, had agreed to döferred payment arrange ment for goods supplied to India.
Ho salt the agreements, which were at supplier-importer level and not governmeňt hivel, svero worth 300 million rupecs and covered mainly capilal goods.
The other two countries were West Gemony and Italy.
He said. India proferred this inathod of payment in view of the light position of foreign exchange--fouter.
From 3rd August.
COITONS
10003312
1000 18.00 1300
pt
16.30 amounts to 33.17. 1000+ 11.90 1000 12
Exchange Rates
E. F. Hution & Co. estimates National Gypsum's pruit margin uld rise to between 67 nöd
when Anal facilities
in
9.40 peset! expansion are completed 3.40 # 3.25 to 3.50 against 3.61 tost 8.30 year-United Press.
NAMESAKES
Answers:-1 Sunbeam, 2 Rac-
5
Business was done Le the Joogling, 3 Accelerate, 4 Chassis,
exchange markel unofficial
thla Engine, 6 Banking, 7 Brooklands, moring at the following rates US dollar mer #1
3 Hurry, Speed, 10 Records, 11 1.M Sterling notes (per £1)
1) Gasket, 12 Cor. 13 Laps, 14 Re- 12.45 volulich, 15 Gears. Austrian Puerto Indonesian rupiah (ver Slam Ural (per 100) Hinerporo. Straits)
གས་
Sir Henry Sehrave (The rac- Loing motorist).
10.30
HONG KONG AIRWAYS
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