London Holds Up Well
London, Aug. 19. Stock markeis held up well today and shrugged off the overnight reaction in New York. The markets were firm, undisturbed by profi-inking sales.
Gilt-edged zecurities were firmer and the bank share sec- Ilon was bright. Investment de- mand for gills, however, was 298 rather subdued but the featuro 2014 in this marjeet was the raising of the government's top price for Exchequer 535 per cents by 1⁄4 215% to 101 One or two of the isnes Cased fruc~ 30 Lomally but short-dated itsuen
1103%
10112
long-dated
Boly were drm,
49
371
01
In foreign bonds GemaNS continued in demand and Were
100xd up to 14 higher, Dollar stocks
were lower.
4011
1146
3244
351
U
Miwion Development
231
10304 Manranto Chemical Co.
78.12 Motorola ine.
120.00 Momenery Want
172.77 National Blacuit
00.49
367 Notiottel Dairy Prod,
441%
National Steel Carp.
New York Central
107;
Norfolk & Western By.
North Amer. Aviation
31
844
North-west Airlines (Con.
174%
38
Qin Mathewin
253
201
Quis Elevators
102
Owen-Illino Glass
12*
Oxford Prber Co.
49
Pactic Gas & Elec
Pan American......Airwaya
Perr. Salt Chi
Phil MorTİR
Procter & Gamble Co.
Flishurgh Plate glas
Publieker Industries
4344
Paramount Pictures
106
Parke Davle Co.
Petiny C. Cu.
43%
Ain. Sugar Ret.
|
Au
American Tel. & Tel
15227
120 2040
American To, "B"
07
Pure Oli
491
Radio Corporation
Radio Corp. Pref.
18
Republic Steel
31% 22 1330 15.30
10%
Reynolds Metal
1214
143
Baltimore & Ohio Beneficial Finance
35%%x
Sears, Roebuck & Ca
Shell Oil Co......
237
1345 1.075
Saint Reg. Paper
1573
Isenix Aviation Corp.
ST
Sepair O
2.15
Denguet Cond.
Boceny Mobitoll
1.90
195 2000
1.05
Belcher steel
444
Boeing Airplane
ક
Bouth Puerto Rico Buar
恋品
Borden (The) Co.
7212
1000
231 10:00 5
Bunoughs Add Machine
Calif. Packing Corsa
10. 201
Campbell Soup Cu
0415 031
Canadian Pacific It.
to
3005
13.40 17.00 17.40
1550 17,40 27.28 27.40 1000 0 21:30
STORES, HTC. Dairy
Watson
16.02 L CONS
12.51
Nanymat
23.20 23.49 100 255
meno 23.30
500 23.0
50 25.30
100 2 $3.30
22190
17.10 17.30
10.50
13.20.13.40
6.03
20.00 | INVESTMENTS
1.00 father
GUT
100 17.00 1000 17.20
2000 17.20 103 170
Cow (1) Co. Cat. Tractor
·Celatiese Comp. C.1.1.
nat. Bank
• Financial Corp. Chase
Chrysler Motors
clue Peabody
Colgate-Palmolive co
Colombian Carbon Co. Commercial Credit
301
Solar Aircraft
Southern Co. (The
Southern National Gay Southern Jailway (on y
Standlord rands
Standard Oil of Cul
Standard Oil of Ind.
Standard Out at N.7.
Sleep Rock (Torontu ER.) Sterling Drug Co.
Stokely-Van Camp.
Studebaker Parkali Corp.
Bunshine Mining
SWLI LI.
Texas Co
Tel-Cont. Warrants
Twentieth Century Fox Film
Uulon Carbide
Commonwealth. Elre. Consolidated Extimon Conlinemal Oil ut Del
30a
Textron Ine......
Tide Waler Aran. Oil
DAY
Time Inc.*********
Crown Zellerbach Cubon Amer. Sugar
2000 5.93
Diamond Alkali Diamond Match Co. Douglas Aircraft Dow Chemicals Dupont de Nemours Eastern Airline
1000 0.08
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK
Closing rates were: Englared official
T+ 30-day
B0-dyz
Other unchanged.
LONDON
Closing rates were: New Turk
Montreal Bri Frankfurt Paris
unqueteri
2.793
2.8016-200-9/19 2.701-2,70-0/10 13086-139,00 11.084-11.631 117246-117212 14.4315-14.4336
Stockholm
Other unchanged.-U.P.I.
COTTON
NEW YORK
Priers of cotton futures closed today as follows:
Spot D.- Dac
Mar.
Mny
July
Oct
Dec.
NEW ORLEANS
38.40 nom. 36.11
31.20
16.20-30
36.10
35,10-11
اد
37.10-17
Del: 49.70; Dec: 30.50; Mar: 50.00; May: unquuted
the United States, the average price of one-inch collon at 14 designated spot markets
was 34.85 cents,
Total sales were 0.893 balcs→→→ U.P.I.
RUBBER
NEW YORK
Rex rubber futures Today closed unchanged to 15 points higher with sales of 28 contracts,
Closing prices:
Sept: 28.30; Nov: 28.13; Jan: 20.19: Mar: 2008: May 27.00: July Sept: 27:83.
AMSTERDAM
METALS
NEW YORK
tirion Oil of Cal
Union Packie Railway
GAT
United Aircraft .....
193
United Gas Corp.
2005U.S. Foi "B"
Prices of metal futures closed
today in cents per 1 as follows;
Lead
Aug.
Sept.
Zinc
Aug.
Sep1,
Copper Aug.
Sept.
Tin AUR. Sept.
LONDON
V.8. Gypsum
V.S. Rubber
V.S. Line Co.
U.S. Smelling
U.S. Steel
U.S. Steel 7 P.C. PP Warner Bros. Konkr Westinghouse Air inko Westinghouse Electric.. Western Union Tel. Co. West Vn. Pulp & Paper Woolworth
Industrials
Industriale presented a dem front. Among the leading equi- ties Imperial Chemicals were up on investment buying and British Oxygena, Tumer and Newall, British Aluminium and Unilever were a penny or two higher. Steels continued dirm,
and several good spots were among engineering.
Fees
Gold slams after initial hesi= iance rolled on the appeariner of buyers. Coppers recovered some of their early falls.
Oils moved within tstrow limits and closed with le material change. Royal Dutch was unchanged. The setback on Wall Street yesterday wes largely responsible-U,P.I.
CEYLON TRADE
WITH CHINA
Colombo, Aug. 19.
The Governmeal warned to- day that Ceylon's imports from China
4% | while
BA**
arc zooming steadily its exports are logging
seriously behind.
The Department
of Com-
4% modily Purchases maid a recent
Af survey
GOT
401 Variety
hows that "a wide
of Chinese commodity
A goods have found markets in
Ceylon, some of which are com-
11
14
ay originating
10612
402
peting successfully
from
|sources,"--UP.I.
with goods traditional
Czech Contract
New Delhi, Aug. 19. India today signed a 100,- 000,000 rupee (about £7,500,- with Czecho- 54% 006) contract
slovakia for the supply of machinery and equipment for n proposed state-owned foun- B4%) dry AL Bihor, northeastern
India.
3827
TI
140
201
20
Under the contract,
01 technicians will
prepare
Czech the
of erection Reuter.
the machinGTF.---
24 project and superviso the
471% .P.I.
THE ROUBLE MAY
BECOME A
0.871
D.
8.429)
6.02
26.00b
WORLD CURRENCY
26.15b
03,250
1.2515
Washington, Aug. 19.
Prices of metals closed today The possibility that the Soviet rouble may be
in sterling per long ton as fol- lows:
28,10:
Тіл
Was
The rubber market steady. Prices closed today in gullders per kilogram, elf Sept.
as follows:
No. 1 rubber
No. 2 ber
No. 3 rubber
No. I crepe
Spot
3-nonth
Copper
Spot
3-month
Lead and half
Aug.
Nov.
Zine 2nd hat!
2.27 buyer
223 rubber 2.16 buyera
Aug.
Nov.
7.46 Buyer
SINGAPORE
After opening around yester day's closing levels the market cased slightly on some Federa- tion liquidation,
Prices of cotton futures ele ed No. 1 rubber per-lb. Sept. 80%-os today, as follows:
ואנלי
De
May
July
Oct, Ded
of
Oct. 1-10
10.30 No. 2 rubber per lb. Sept. 1874-701
No. 5 rubber per ib. Bept. 74175 No. 4 rubber per b. Bept, 70-201 Spol rubber unbeld.... 791-003 Blanket crepe
30.50
cais
35.10
No. 1 palo crepe
BT-30
$2.04
20.10
LONDON
in
Buyers Sellers
73015
Trit
729
203316
20
63 634
SUCAR
established as an international gold convertible currency is being discussed in financial circles in Washington, following the recent publica- tion of two articles in the USSR by Vice- Premier Anastas Mikoyan.
Mikoyan indleated that they Africa, would have gold slocks rouste will eventually become inrge nough to allempt n an international currency. limited convertibility. It Moscow Experts here emphasised that should decide on such an opera-
in this steps taken
direction tion, however, it would first would not represent any dan have to settle a number of Im portent and delicate problems. future ger in the foreseeable for the doilar or for sterling at
PRICE STRUCTURE present, the two principal inter- national currencies.
CONVERTIBILITY
In particular these relat: to the the differences between Soviel prices structure, Oxcd the state and prices by
of
cЛect of
of Its gold in London in order try's economic offensive to oblak the sterling it needs and trade expecially in rela-
In their view convertibility of Savlet productes abroad which "New York, Aug. 19. -
sce exposed to the the rouble which at present can World No. 4. sugar futures only be limited would be no supply and demand. closed two points higher to three more in the inmediate
fature
If the Soviet Union should of rolse the internationsi decide to establish a degree points lower with sales of 640 than t
economic circles prestige of the Soviet Union. convertibllity, contracts.
It would eliminate the Soviet in Washington believe the move Domestic No. 0 sugar futureation's present steed to dispose will be an aspect of the count closed unchanged to two points The rubber market was steady higher with sales of 380 con- LIVERPOOL
with spot quoted at 23-7/10 trets. Collon future closings, pence per lb, were as follows:
ponco per the Pricts: American Contract
No. 1 in spot 2014+2351⁄2 Det/Nov: 24.10: Dec/Jan: 24.40; Settlement house tenn: Mar/Apr: 24.48; May/fung: 24.33) | Sept.
Det/Dec. July/Aug: 24.5.
Jan./Mar. Mixed Contract
Apr./June Oct/Nov: 14.68: Dec/Jan: 4.20: July/Bept. Mar/April 84.70: May/June: 24.20,
General iharkets, eit waain July/Aug: 24.38,
Aug. SÃO PAULO
Sept. in lost. Colton future closings,
Meanwhile, the banks' share of advances for hire-purchase, which has been decreasing. should rise again. Currently, the ÚCARCELY any contracts for clearing banks' odvances The agreement is subject to
new ships have been placed around £31m, account for only the approval of the British and with the
nulor shipbuilding 1.8 per cent of tolal advances. American governaments. The yards of the world during the The banks will than have a sis
ful outlet for loanable funds as Teade sources say,, however, well as sharing in the profile of So for, the Fainey Company that secondhand values for large their new Investment. has built only one, prototype of standard war-time bullt ships The "authorities," who in the the Rôlodyne. For several have now fallen to a point where recent phase of the interse cre- months, it has bens attempia many buyers are ready to enter dit squeeze were unable to control to obisin a subeddy of £8,000, the market
the groll of hire-purchase finance companiço, should have les dificulty in future it the need arises. Through co-opera-euzeiros per kilo were as fol- crepe ihm Bent | tion with the beals and, as a flown
for
000 to £10,000,000 from the Recent sales of war-time bullt Brillah Government
the Liberty-type ships have shown a plane's manufacture.Franco-alight Increase in value to about Presse,
£140,000-£145,00.
.
tate crepe thick Bept, ..
Darts:
Contract No 4 (world)
Sept: 345 Cel: 2.47; Jim. 3.40; Mar: 142: May: 342: July: 3.43 Sept: 3.43; Oct: 3.44; Sput(cents per 1b. for Cuba: ab: Open inter cal: 6,100 contracta.
Contract No. & (doruesilo)
1
Sept: 0.08 Nov: 63: Mar: 5.62 Sept; 9.72: Spotefcence per in, eit NY ex-duly); 6,77 Open interest: 1,ita contracín.-U.P.I.
+
aid
wo
conclude variou fister- tion national transactioni, It would countries.
Under there circumstances f be a symbolic denson trailer of tlin econojnic
Anuncialin not considered likely that sucht strength of the country which as convertibility would affect rela Premier Nikita Khrushchev saidtions between
to the under-developed
ns declared economie war on other the United States.
It is reasonable to bellevajsettled by ht the Soviet Union.
the USSR and Communist erruntries.
continue These would
to be a clearing system. priwipal the The
boneficiaries 50cond largest gold producer would be the underdeveloped
the Union after
South countries.---France-Prekat.
of