THE CHINA MAIL, THURSDAY, JULY 25, 1957.
TRADE and COMMERCE · SECTION
TUC CRITICAL OF SUPER-COURT PLAN COTTON FUTURES
General Council Neither Approves Nor Disapproves
London, July 24.
Leaders of the Trades Union Congress de- clared tonight that "fundamental differences" between the Government and workers could not be removed by the setting up of an independent body on productivity, prices and incomes.
HONGKONG
STOCK EXCHANGE
Out Own Cartelpondent
Exchange this
ANOTHER SLOW WORLD
SESSION ON
WALL
STREET
New York, July 24.
Stocks plodded through another slow session with trading the lightest in more than three mentiis and with most leading issues moving only
fraction either way.
Business done on the Hong kong Stock morning amounted to approxi- mately $980,000. Noon quoted
ons and the morning's transac-
tions:
sikrės
Ak
Unich
Nank
Rugers Setleri
The General Council, governing body of the eight-million-strong Congress, said this in a INSURANCES statement sent to Tr Peter Thorneycroft, Chan-bard cellor of the Exchequer.
SLOW DOWN up the impartini "super-court"
OF CANADA'S ECONOMIC
BOOM
Montreal July 21. Canada's economic boom slowed down during the first the half of the year from 1956 pace although, expon- still sionary forces were evident, the Bank of Mon. its treal said today in
business review monthly for July.
Salto in some Industries levelled out and some reductions were noted, but "the large und still rising volume of capital Investment in new plant equip ment and housing" is continulag, the review gald.
Estimates were being raised in uranium, petroleum develop- ment and pipelines.
INFLATIONARY
The inflationary tendency was pointed up by the steady rise of the consumer price index, the Dank bald.
On June 1, the Index stood at 121.0 a rise of 3.2 per cent from the com- parable figure last year.
"Further evidence uf in futionary pressur Is to be found in Cortada's balance of merchandise rode with other comtries. Imports have CU- tinued to rise thus far in 1957 and to the end of May amour: ed to $2,457,000,000 as against $2,350,000,000 in the ame period of 1938."
The 1057 trade deficit to the end of Muy. was 521 millio
about 41 million above that of the first five months of last year, the Bank sald.United Press.
LONDON LACKS INTEREST
London, July 24.
Markets Had
ain un-
1805
100 97
..
SHIPPING Waterboat Wheelocks DOCKS, ETC.
# 6.10
117 115
123019.70
000142
40%
The TUC chiefs bad held. Wharf.. two-hour dircussion here on the Duck Government's prosposal to se: Pudent (0) 12.5% 12.30 1941 12.20
LAND, ETC.
Katel. 15.00
IX Land 33! Realty.
1.45 1.475 RUBBER
to probe the nation's economic position.
The General Council's sást | Amalt, ment reither approved nor dis-Trust Approved
Government's UTILITIES plan.
the
Merely Noted
Tratn
10 500
10000
15.80 16
20
100 or 35-44
1,50
1.43 30.000
1.325
1.50
24.70 24.00 1200 24,70
Yaumati
103
C. Light 10 0.00 0.
txts) 12.00
2014 20.00
13
1015 10.00 20,20 28.40
51 331%
Il merely neted the proposal Elecinte and the assurances from the Conservative Government that Macno E.. die Independent body, it set up, Telephone would not interfere with the
INDUSTRIALS present system of collective
Cement bargaining, or Intervene in any industrial negotiations or is- putes.
But bidustrial observers de- scribed the tens of the General Council's statement as critical of the "super-court" plan.
The TUC was convinced that unless nation:1 Leonomie polley was directed towards full em- ployment and social welfare and the guvernment Was demon- strably taking measures to that end, it would continue to bu impossible to advocate with any hope of success a polley voluntary restraint.
Yielded
of
The statement added: "The more the Govtrumcat yicided to the demands for a freer market economy, the ss have been the chances of voluntary con- trol and co-ordination in the wages field."
The TUC lenders went on to
IV stsen
coTTONS
Texte Nanyang INVESTMENTS A1ell.
1000 2 24 60 510024.00 2000 to 21.00 400 100 2100 10.70 844 12.00
1400 0 20.0
12839.50 100 20.00
200 a 20.50 BOO EA 20.30
100331
33.50
533 33,50 100033.80
RUBBER
MARKETS
RALLY
AFTER SAGGING
New York, July 24.
Rallying tendencies in cotton futures gather-
ed headway in late trading after the market sagged as much às $1 a bale in forenoon dealings. In a complete erasure, of early losses; the jody unchanged to 15 points market closed around the day's highs and up net 5
New York, July 24. Nex rubber contract closed
higtier with tales of 07
tracts,
con-
to 11 points. points.
Opening prices were off 5 to 10
Shipper rolling, reportedly hedging against 10w crop gin-
nings out of the southwest, featured the curly trade,
Other scattered selling reflect-
Rail shares stood out as bright spots on the upside, paced by Baltimore & Ohio which climbed changed to 16 points higher with ed the favourable tenor of crop
2 points to $56% in the day's heaviest trading.
were
The olis
chlef soft spots, with declines ruming to more, than 2 points in Barger.
Volume of 1,730,000 shares Jaggra 100,000 shares behled Tuesday at the smallest 1ots! since April 1.
American Stock
Exchange
sales dropped to 810,000 shorel from 840,000 yesterday.
Bond volume amounted to $3,060,000 against yesterday
$5,270,000
Closing Prices
& indi
Allied Chernteals Allied Mity 21. Allis Chalmers American Airline American Cable
Curp. American Cyanamile Co Ainer. Forgi Power Am. Gas & Electrie Am Mach. & dry American Metal
American Smelting Anterienn
Amerian Trb.
Anaconda Copper
Armes Steel
Armour
Baltimore & Oilo
Beneficiat Flanner
July
23.15
Sept.
12.70
Nov,
32.60
Joll
+2.68
Mar.
32.45
May
32,30
July
JLBS
Standard contract closed un-
no sales reported.
July
Sept
Nov.
Jan.
Mar.
May
July
23.15
32.90
33.69
37.45
Rnd weather comtenis continuing uncertainties form legislation and the role for the new crop.
and
OVE
fonn
32.30
31.03
and the Armi basis for Easter
Market. ruled stendier in com- pany with the primary markets
silpinent
do- offerings. The mestic consumptions figures for June proved unexpectedly low, but werd disregarded. Lh month's disappearance of 111,050 long long compared with 120,316 long tons used in May.
GENERAL MOTORS EARNINGS
New York, July 24,
General Motors Corp, the
Elsewhere, tradera merked time awaiting the government's Arst estimate on the size of the crop, scheduled for August 9, and the private crop surveys | world's biggest Industrial which usually preceded the money maker, reported to ometal report, ́·
day lower exttiings for bölh
Open Interest the second quarter and first
140.500
half of 1957, reflecting sharply lower sales of autis
und trucks.
CHICAGO GRAIN
MARKET
Chicago, July 24.
Monta
Dee,
Votione 4.100
$0.50
7400
342,000
Mar.
7,700
Grains
were
mixed at
Dealers switching Involved My
5,000
130,300
337
the close of an inactive | the March-Sept, contracts at 30 de
A block of] Ber. session of the Board of points difference.
20 lots of November
contacts Tola! 10 Trade today..
were exchanged for physical:
July
6,000
100,000
9,100
210,00
1.000
28,400
36,900
9672100 inter
NEW YORK
rubber
T
Oct, Dec.
zar.
May
July Oci.
Der.
of the total, five losts
were Prices of colton futures closed was partly decounted four sheels for today as follows: done against
cent Nov. delivery at
Spot premium on the termal mat- kei. Factory buying interest remained small. Spot No. 1 Rsa was quote at 33 cents.
SINGAPORE
However, the giant auto firm autoriced that its dollar sales Increased in both periods. This for by
34.80
54.70
34.00
34.91
a share,
31.80
NEW ORLEANS
21
The market
opene abdut 1024) siendly with wheat and oats
at showing strength 4252
mid- Prices 26 morning.
in wheat bazi became lower in late dealings. 17th
Buylog by exporters and four mills and short
covering helped raise some wheat prices,
Hedge selling towered some futures although export house buying was reported.
COVERING
covering brought
#
greater defence volut,
Consolidated's net Income tor the first months of 1957 slipped to $481,236,708 or $1.71 against $303,471,0233 or $1,80 a state in the sard period a year ago.
First half salas of $5,962,456;-
Prices of cotton futures closed 788 compared with $5,024,715,194
The market opened duli on disappointing overseas advices and was briefly will reports today as follows:
of further unrest in Sumotra revived intercst,
31.00 34.70 34.03
34.00
In the first balf of 1936) and
with more than 5,013,000,000
in the record-breaking first half of 1955-United Press,
07
STORES, ETC. Dairy
FT
L6 70
500 o 18.80 12.30 12 4048 1212 700 Fr. 1245
31
1
Allas Cuna, Mihóng
Boldwin-Lina-Hiem.
4.32
9.30
4,40 2000 4.35
Bendix Aviation Corp.
9700
9.35
Benguet Cons.
Bethlehem Strel
4.25
Hooing Airplane
Barde (the) Cử
Spot
Burrough Add Machine
4912
Campbell Soup Co.
The market steadicti shartly
Oct
Dec.
Canadian Pacile R.
39
Mar.
Caso (3. 1.) Co.
May
1
DCP ĐT ĐI
July
Oct. unquoted
Ori.
41
Dea.
a
50%
pendent strength.
No. 3
92-673
No. 4
"
48
Colombian Carbon Co.
Commercial Credit
Prices in oals showed smbli 40% gains with elevator house buy
Spol rubber, unbaled Blanket crepe
|
47
Commonwealth Elec.
30
Consolidated Edison
42
ing. especially in the December delivery.
No, I pale crepe .......
LONDON
0014-05 0213-93
100-102
LIVERPOOL
Wherevor
Cotton #futures closings, in petice per ib. were as follows:
Continental Dil of Del.
8726
Indla
CHATTER
ON WALL STREET
New York, July 24. Bache & Co. would be inclined "to view the dips in the
Dow Jones in- dustrial average as buying opportunities."
fresh
Poors Investment Advisory Sy tral thise fundamental i Co. as the stock of the month diferences could not be removed i needs. a correétive pause and by the setting
vi some up of an fm-development partial body.
leadership.
Standard & Poors iists Texas Co. has the stock of the month. Harris, Upham & Co. k- Umates Kroger will be 4.70 in 1957 against 4.41 in 1950 onu! may supplement dividend with a stock distribullon
says Westinghouse Eletrie net may rise to nearly $4 a share against a mere 10 cents in strike ridden In 1956 and could restore dividend
The TUC drew the Chan- cellor's attention to the fact that scarcely any of its suggestions budgets had been for recent accepted.
TUC. Opposed
La to 2.50 a shore by declarațion
In fact, the Government, Ine with its econoinic social outlook, had continued attopt policies which the TUC had oppured.
to of a year-end extra.
CEMENT COMPANIES
Cat. Tractor
Celanese Corp.
G. L. T. Financial Corp.
Chase, Maghat Bank
Chrynler Motors
Climax Molybdenum
Colgate-Palmolive Co.
Crown Zollerbachi Cuban Aner. Sugar Douglas Aircraft Dow Chemicals.
Eastern Airline Eastman Kodak
Dupont de Nemours
National Gos Family Finance Colp. Firstone Tyre & Rubber Ford Actor
General Electric
General Foods General Motors
Gen. Pub, Urtie. Grity Oll
Glen Co.
Goodriels (D. P. Co.
Goodyear Tyre Gulf Ou Heyden Newport Corp. Ingeli-Marti
Frland Steel Co. Interchendical Corp. İsti Dusiness Machines Intervester.... International Nickel Internationst Paper
Tel & Tel
200
Shori ratly to soybeans following a befor: the close. Futures: decline of almost two cents a No. 1 rubber per lb. Aug, 03-0 buster Carty in the day. The Sept. centrac thowed Inde No rubber pre ib. Aug. 23-034
bought an estimated as 1.750.000 bushels of US wheat million bushels of nod
1,283,000 Canadian whent and bushels of Candian barley were
The rubber market was quiet-
Jy steady. Spot was quoted at 274 nonce per lb. Prices: No. Rs 500L
********* 271-27% Suttlement house term: AUR
Sept.
Old contract July/jus.
101
onu
JayMar.
Oct/Now
Dec./Jan. Mar/Apr.
May/me
New
contract July/Aug.
Nov.
Dec/Jan
Mar/Apr.
--
2342280802
វឌឌឌអន្តរ
General markets, clf basiH, Aug. Seat
to Estate crepe in "Aug... to LIP
thick unquoted AMSTERDAM
May/June
SÃO PAULO
Closing futures in cruzeiros
per kilo were as follows:
202
29
1101
30%
sold to Japan in foreign trade.
Oct/Dec.
241
Graine at outside
market:
Apt/June
BJ
were irregular.
451
Wheal closed off
371
cent for old and off
Aux.
30%
14 cent for now.
Oct.
Dec.
Soybeans closed up 11⁄2 to off 149 cent,
Mor.
The rubber market was steady. Prices closed today in guliders
May
July
+
Prices closed all iry echis per per kilogram, elt August as bushei as follows;
follows:
No. 1 rubber
No.tcrtysel
4256
346
Wheat, No. 2, red (old)
No. 3 rubber
July
deleted
No. 3 rubber
195)
Sept
AED
Déc.
Juhn-Manville Co. Kansas C. Power & Light Kennecott Copper.
Wheat, new contract
302
Spot
214-316!
116
Liggett Meyers Tab, Co, Lockheed Aircraft
03
July
Sept
21422(2) 2107
194
Dec
deleted zia o
Mar May
Am.
Loews Incorp.
Lane Star Cement Co. Lowenstein & Sons. McDonnell Alterafi IC TUC had consistently
Stock Exge.) ...... appealed to the Government to E. F. Hutton Co. looks for Mesall Iron Corp. use its powers
the to prevent un- good things for cement Minnesola Mining
Mision Development necessary price
Nike Lehigh Port- increases and companies,
Mouranta Chemical Co. General Portland, thus to set the scene for colles land,
Lone Montgomery Ward
Motorola Ene, tive effort to control the forces Star, Marquette, and ideal.
National Cash Rog. A efrecting
Reynolds & Co. looks for $3 National Dairy Prod. Incomes and prices, ntill
a share for Easter Gas & Fuci National Load" encourage greater pro- ductivity.
Associates against 301 in 1950 National Steel Corp New York Central ...Says Warren Brothers may in Mathieson approximate the 6.01 camed in ous Eluvators 1938...Oliver Corp., is being Owen-Ilola Glass
Pacific Gas & Elec. mentioned
merger can- Pan American Airwaye didate with Westinghouse Air Paramount Pictures | Brake
Wa3
interesting đáy: turnover Industrial obscrvers reported at 10,370 bargains record-cler that the Government
expected to announce its deel ed was only a shade higher sion
to go ahead with the than yesterday's which "super-court, despite the TUC was the lowest this month. watings.ficuter,
Only trend displayed was In
British Governments whleh were soll eraugh to lower then by or sterling.
Singapore
Depart Stock Market
Industrials enjoyed moderate selocfive buying which raised prices 8 to "peniec, ment Stores were mostly a bit higher with the exception of John Barkets which fell
penco, Several steeka gained a shilling.
WENT AHEAD
Olt went ahead except for
of tho Trinidad issu
some
Singapore, July 28.. Brokers today quoted the following stock prices:
$3.20
Opening
Batu Lintang Rubber Co.
Lid. British Bore Potroloum
Byndicate Consolidated
W-
Tin
Smelter
Fraser & Neave 7 cunn. Gartenons (siya)`'i
$3.00 4:00
Limited #2071
whicii suffered profit-talding, Frases & Neave Ltd Oro
Royal Dutch Improved
sterling to 246.
Dalide stocks were active while, the premium rose 2 për cent (o 19 per cent décore élie Ing of 18%.
ingang & Blithel
Banking Corp Hongkong. Tin Ltd. jan posla, Rumia Raingur Tiny, Lainną, Rubber, Butték Zül
an
STALayan, Breweries
Foreign, Lorts Envý adpatcht- | fày: Bandait Rakker ly last hole, market for a num-Pelangi Liờ. ber of wolks. Both European itarie Stotr and Far Eastin attracted quesitope cale Borate attention; the reflects in port a strato adre
Straits Steamship lack of interest on the con- United Engineers Ord. tinental bourves. United Wear Bros. PACKS.
Spacial.
1000
BLYSS
as u
W. E. Hulton
Parke Davis Co.
Peury J. C. Co.
& Co. snys
Per Sall Co. Canadian Paclite is linked with Phillip Morris
the idea the company is becom-Proofer & Gambie Co.
ing more all conscious
Pittsburgh Plate Glass
there's Publieker Industriea
talk of a merger of Lition | Burg Oil .............. Industries and Underwood.
Green, Billa & Anderson In en analysis of Columbia Broad- casting estimates
Uue company will, corn as much, sá 3.25 in 1987 against 1.13 in 1936. United Press....
Exchange Rates
Radio Corporation
Republic Sect
Reynolds Metal Scary, Roebuck & Co.
Shell Oli Co. Salt Her Paper Bluciair Hocony Mobilit Botar Aircraft
Squth Fuerto Rico Sugar Southern Co. (The) Southern National Gas
Southern Railway Standard Brands
Standard Oil of Col
Standard til of Ind.
(Cont.)
Standard On of NJ. Steep Rock (Toronto Ex.) this) Sterling Drug Co
Blokely-Yon Comp. 5.03 Studebaker-Packard Corp. 10.25 Em là cá
Burles was done in the local whoflotat exchange now morning at the following rates:m V.B, dollar (per $1); Stirling. nong.(per Li). Australian nolas, (per 21)... Indonesian rupials (pet 200)". Binks tiesi (për:100) Bingapore (ttattay
NAMESAKES
18.43
Texas Ca... 14.15 Tido Water Assn. Oil
.00 Time the
Twenty.Century Fox Fim.. Union Carbido e
Corn, No. 2, yellow
Spot
July
Sept
Dec.
Mar.
May
Ryc
July
Scot,
Nov,
04ts
July
Sept. Nov.
15%
Spot
012
July
Sept.
キュ Nov.
Jan.
Mar.
BU牛
May
Barley.
Spot
Soybeans, No. 2, yellow
New York itoar
200 lb. nack
deleted
133-13214
135-139
{1
deleted
106-127%
1
deleted
ሰው
22-227
24035-12
729-130
$13.00 United Press.
New York Sugar
Market
New York, July 24. Closing of sugat futures were:
in the United
you're goingsu,
EUROPE
unquoted
37.80
56.78
30.78
40,00
ORIENT
40.20
Slates, the
244 puyers Average price of one-fhich collen 281 buyers at 14 designated spot markets 9.82 buyers was 33.99 cents.
25 buyers
-United Press.
New York Foreign
Exchange
New York, July 24.
Closing rates were: Canada England fieldi
Australia
-days
90-day
New Zealand South Africa,
Dikere unchanged.
1.05-13/31
2.70 2.73-5/10 SLITAL ZZA
€.774%
9.79
United PreKİ,
London Foreign
Exchange
London, July A. Closing rates were:
New York
Montreal
Beach
Paris
2.7216-2.7894 2.04*7/10-204-8/18 ! 130.00-13.95 07014-08016
All others unchanged,
***United - Press.
LONDON METAL
PRICES
London, July 24.
Prices of metals clord today
scrHa# per long ton follows:
FUTURES
Seller
TIA wit
3-month
Copper pot
745 2103
749 740
-ht ni
21912
Contract No.
(world)
Lead 2nd half Jun
2lie 2nd halt
September
TEIS
October
377
January
4.30-31
4.30
Oct.
4.40-41
-United. Press.
03. March
4.10
2011
May
409
NEW YORK METÁL
July
409
2016 september
400
azi
Gelaber
Open inferest: 6,318-contractz.. Confèdes No, & líoničktier
4495 4
september
November
Spat trente por tu cit NT
ex-duty)
-United Press.
0.00- OpenInterest: 1,914 contracti "United Press.
Unione Italfway
Bulted Adrecast.
Trailed GM Corp.
U.S. Foll."" [US, yenim.
Ahavern- Ply 2' Enter- 15. Le Co. 2016 Epiño, 8. Dghini, 4 Footlights, . §. 17. Jinhaer
stage, & Curtain, 7 Performing US
UH. Berlin fi d'Express Lantes, to Acting, Wawr Bro
$15.00
Mall
11 Speech, 12 Hollywood, 13 Westinghouse Mectric Nelson, 14 Volce, 15 Travel. 10 Western Union Tel. Co. Audience, 17 Premiere, 18 Role. V Pulp & Paper
Woolworth Bir Laurence Olivier,
Spot cents per the fob ceba
New York, Julý Mi Prices of bial, futures. Closéð today i cents per 1b7 as follows: Load
AUR
1:2006
Copper. Jus
Aut July
31.368
908
APE
➡United · Frem.
Total sales were 12,053 bales. -United Press.
CANADIAN
DOLLAR SOARS
New York, Juty 24. The Canadian dollár Boat- éd to difcord of $1,05 13/32 in relation to the US dollar in foreign exchng trading today. United Prásy.
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