Page
HONGKONG STOCK EXCHANGE
Our Own Corrèspondent,
Business done on the Hong- kong Stock Exelange this morn- ing amounted to approximately B002,000. Non quotations and
the morning's transactions:
~~~~~ShaterTM-Buyers-Relate
BANKS
His Ink.
Fast Avia
INSURANCES
Union
Lombard
satos.
MG $40 300
13
100 $315
BELIPPING
Waterboat 2114 Wheelock 030
FLAD 18000 4
500 m
0.40
DOCKS, ETC.
K. Wharf. 163
105
Provident 12.2)
Dock ..... 434 你
1200 /
A
Talkoo.. EL EL
1050 of
12.0 321
LAND, ETC.
HK H. 20.10 20 50
200
2000
1000
28.30 20.20 28.30
BOO
K Land. 131) 3024
$200
740
Humphreys 10.30
Really
1.125
1.06 2000
1.£5
RUBBER
Amalk
Trust 302 3.00
UTILITIES
Star Ferry
V
123 120 133
101...
. Light
10.10 1020
Electric
28 20 20 10
Bre
310 M
bon
GON SE
240 2.025 toga # 2.72%
A. Powol 3.10 3.25
Te... 20.10 20.30 6159 74 20.30
M F
XU.....
Tales bone 27401 28
Lane, Craw, 18.70 150
4300
114
10.20
THE CHINA MAIL, FRIDAY, JULY 17, 1959.
WEEKLY · REPORT ON THE
HONGKONG ́ ́STOCK EXCHÀNGE
MARKET TURNS BULLISH AGAIN
New York London Trust Cotton Company Buys Market Colony Shares
New York, July 16. Lively commission house and New Orleans buy- ing shortly before the
close
cotton gave futures their largest gains in many sessions Loday.
At the fush the list ruled unchanged to 17 points higher after opening unchanged to t point lower this morning. New Orleans fntures closed 11 points higher,
Activity was contred in near- 14 tax months, reffeeling the small certificated stock and the pʊa- sibility of a rush by domestic 29.30 na foreign mills to buy early
receipts.
According to reports from spot Arms, weather continues Inyourale in most parts of the belt and ginning are Increasing | in south TexUS,
Liverpool closed 20 higher to Eve points lower putting priers 678 to 771 American points un- der New York futures,
2:0
INDUSTRMA
30 30.
200
125
34%
STOKES, ETT.
Dairy ..
17
34
17
10 **
2000
200 ...
Watson.
... 14.0
1,1
5).
...
1000 10 1003
1833.
COTTONS
Textiles
1640 ** 474
1000 M Cond
416
in
Nanyang
11
INVESTMENTS
Inst.......
13
8.40
8.15
MISUKIAN FOUS
Citro
Aulled 1.X. & FE
ravents. &IN
n
1070
ii.
"
130
11400 10
UTC
nke
USDA reported registrations The week ended July 13 totalled $220,001 bringing the tutat stire the
program
Bun riti August 1, 1038 te $41,918,454.
Senator Hermun Talmatige called on Secretary Benson to nel immediately to shield U.S. ention growers and manulde. furers from foreign clothing competition,-uri.
U.S. LIKELY TO PRODUCE
SECOND LARGEST
CROP OF FOOD THIS YEAR
Washington, July 16.
By A SPECIAL CORRESPONDENT
HK Bank Lombard Unlan Wheelock IK Wharf 115 Docks Talkoo Docks
Provident'
NK Hotels
HK Lands
* The Share Market At A Glance ⭑
June 18 June 25
July 2
890
805
035
July F
045
July 10
050
Up or
Down
+-$5
Dividend
Bonu $1B
Yield (%)
5.1
31b
8434
35b
714b
71
73
2514b 70
asb
-25c
82
+$3
5.60
6.05
740
150
$2
$3.40 156
5.7
+
TIT
926
90
102
100
104
-42
$8
7.7
445%
45%
401/
4371
4314
-500
11.5
2%
32
32
31
3214
+$1
$2.80
8.0
-11.80
12
27.20
127.30
12.40 26
12.70
12.00
-100
$1.10
8.7
28
28.20
+200
$2.50
B.D
3314
3314
334
35
+750
$2.40
0,7
1.58
1.578
1.00
1.60
1.05
+5¢
15c
0.1
28.20
28.00
28.20
28.60
39.20
+60e
32
0.85
1124
11.6
110
1176
120
+59
7.1
week's
Taumatis
109
108
114
112
115
+33
48
6.05
Ch Light
18
17.80
17.70
17.00
18.30
+40c
$1,10
Electrics
27.70
27.70
27.00
27,90
28.40
+50c
$1.00
6.7
IK Telephone
20.00
26.00
24.70
27.10
28.10
+81
$1.75
8.25
33
38
3404
34/2
344
+500
33.25
9.30
Dalry Firm
16.30
16.30
10.10
18.34
17
+700
$1.526
9.
A. 8. Watson
14b
14b
14.70
14.80m
14.05m
+150
S1
0.7
17.60
18.70
18.40
18.500
18.00
+-40c
$1.50
7.95
5.00.
5.90
6.20
6.45
-i-25e
10.1
4.30n
4.35%
4.351
4.10%
4.20%
-20c
25c
►
12.60b
11.30xTM
11.40
11.00B
11.006
steady
800
0.9
5.05
D.65
5,95
0.45
6.30xd
+505
€5c
10.3
8.35xd
9
10.30
10.40
11
+50c
70c
4.35
The Hongkong Stock Exchange turned
after bullish again
last
speculation and people were seeking good investments this week.
London Stock Prices
fillträped Bands 234 Tronport 5
1970/81-*
be to geem Investors more satisfied at the present for returns of between six and seven per cent than at this time a they were your ago.
There
was 11 general in-
London, July 18. Cling prices on the Loanprovement in prices this werk and although there was some stock exchange were
fit-taking, the market readily absorbed the shares without de- elining. This shows how frm the market is at present, and with the shortage of scrip, prices strengthened in nearly all see-
LISA.
Canode 2 - C Consuls 4-474 11/10. SVECERU
'i
ÆGT 11/10.
Funding 1
J
20s 15/36,
10/00-
Funding Stock 3 1990.904- £73.
Finding Loan 475 1980/09 - 2017 Saylag 3% 1005789 −200 11716, Ravin ' LUC7/70-21. Savings - 1905/75–£7RY
Banks Harefay's Bonk “A” 1,td ord-355
"Chartreed Bank-48s 6d.
Hong Kong--£5
insurance
30.
Union Insurance Canton--£1.
Alteraf & Motors
British Motor Carp, Ord--13- 9. Ford Motor Co-ás d
Breweries Shatiller Co. -27′′ 61.
Building & Materials Assoclated Portland Cemeal -- (26
4150
Pinchin Johnson Associates Orl—
d
Coal, Steel & Engineering Hebrock & Wilens Adf-458 d. Vickers Ltd.-33 35.
Food & Talk,co Beta American Teb. Co., Ltd.
Imperial Tobacco Co., Ltd.--35
MiserikassoÚN
British Oxygen Ltd. Ord-478 01. Cancion Pickle Rly $54?).
Dunlop Rubber Co.-21.
LOTA.
Consolidated
The market hus now con- solidated itself after its recent climb and there seems to be nothing the way to stop it upward frem continuing ita ascent. Turnover for the week was $0.35 million, one of the targest weekly turnovers for the year, compared with $8.45
million Just wrek. volume
Yesterday's
UK Really
HK Trami
Star Ferry
G. I. Cemont
Lane, Crawford
Inti Investiment Allied
UK & FE lav
Textile Corp
Nanyang
THE TALLY: Last wook, 19 highor, 3 steady, 4 lower.
$0
This week, 20 higher, 1 steady, 5 lower.
Stocks Move In Narrow Range
New York, July 16.
Stocks moved in a narrow range in more-or-less
routine trading today with the nation-wide steel strike proving somewhat of a dampener on market enthusiasm.
There were a few individual Allis Chalmers features insures
Fuch Seagrave CorpD. which added Am. Cable & Radio Corp. neorly three points to yester-American Cyanamis Cu. day's 4%.
115
Am. Brake Shoe American Airline
Am. & Forgn. Power
Am. Home Prod.
Douglas Aircraft slumped 24 Am. dan & Electric of business, $2,101,000,oints on the heels of its poor Am. Mach. & Fry was third highest daily turnover earnings statement and dividend American Metal for the year.
the general Apar1 from bulliances of the market, on- other reason for the good sup- port on the market is money coming from overseas being invested in Hongkong shares
lo Ice House Street According
London unit trust SOUTTER, 3
has been buying ap company Bank and Land shares on the market, Banks up $5 are now paying 5.1 per cent while Lands up 75 cents are yielding 0.7 per cent,
Imperial Choinlenz-348-1950. Lyons & Co.-09 01. Unilever Lad, ~-064.
Paper Bowater Paper Corp Ord--1.
Hadio And Electrical Assurlated Electrical-85; Du. Electrical & Musical Rand. English Elzetric Co-in od. General Electric-315 Tlád.
Shipping Indo-Chinn Stern Nav. Co. det P&O Steam Navigation def ory Pany has lost
The Agriculture Department said today that org-
American farmers this year now seem likely-33 104 to produce the second largest crop of food, feed and fibres in history, topped only by last year's phenomenal yields.
Leading the prospective sut- pouring of agricultural abund-
aner Was estimated buslets.
a big
cora crop 4,224,150,000 This compares with
an actual record output of 3,709,844,000 bushels In 195B and a 10-year average of 3,251,004,- 000 bushels.
The wheat engi was forezast at 1,155,132,000 bushels, includ- Ing 032,870,000 bushels of winter whent and 222,234,000 bushels of the spring variety,
The prospective flood of corn was attributed to the fact that Inners last November approved a programme allowing them to plant unlimited amounts of the basic feed grain.
CORN BELT
Chicago Grain
Market
un
fd....
litores
Creat Universni Stores "A"-425
Marks & Spencer Ltd-13 WoolworthZW. & Cu-40, 711⁄2ct. Textilen Conts J & P 110–208. Courtaulds Ltd-30s 34.
Atiken
Anglo-American Carp of South Ainea-100 74d.
Cone Goldfields of South Africa- 74.
Con Zine Carp. Ord015. De
cers def-18 0.
Free State Development & Invest. ment-119,
Fongkong Tins T Petaling Tin-5
d.
Seuthera Kinta Cons Ltd--25 Jd. Union Corpdit ad
West Driefontein Goldmsining
13 414. niso the
Chicago, July 16. Soybeans and rye were heavy,
other ani
genins were lower today mostly Board of Trade.
Reports of scattered showers in downstate Illinois produced selling in rye and hedging in Prices of some soybeans, contracts were down about 2% cents a bushel at one point to- day.
Farners responded by plant-
July cent mora ing almost 15 per cora peres than they did tast your. In addition, wenther in the corn bell to date has been relatively
Invourable. IL was
the arst corn estimate 1050 senson.
Closing priers all per bushel: Whent No. 3, red
Spot
In
cents
124 100%;
JM Close
18%
183-%
Sept. DC. Corn Na, 2, yellow
195
Spo!
of the
July
120 124-125
Sept
Dec.
March
of
July
Sep.
Cate
The Department's crop re- porting board said its all-crag | Nye Index stood at 113 04 July 1, well below last year's reword index of 118. However, the Department's July estimalca have proved conservative in re- -cent years and the final out-
turn may be higher,
Juts Roybeans, No. 2. yellow
Spot Sept. Nov. March
The crop board also estimated that this year's yield will bc
May
Barley.
acres, smaller than at any Ume
Spol
harvested from 325,000,000 New York fleur
since 1030 with the exception
of the past three years.
Total 1950 plantings were set
there
nt $40,000,000" acres but always is some abandonment.— UPI.
Danish Parliament Approves FTA Proposal
Copenhagen, July 10.
200 Tu, nack
בזיון
West Bland Cena--24% Dd.
ዑቲ
British Borneo Petroleum Syadi cate--61 100.
Tiril Pirateur, Ca., Lul-50s 3. Hurma-00
Royal Dutch Petroleum-£14). Shell Transport & Trading-1359 3.
U.S. INVESTMENT QUOTATIONS
Mutual Funds
New York, July 10.
are United
The following
Anacada Copper Armen Steel
omission. Other sizcable losgey Am. Natural Gas
Aineriesa Smelting appeared in Worthington Corp. Am Sugar lef. DIT 31⁄2, Crane, Bendix, Texas American Tei & Tel Gulf Producing, Reynolds Mela's American Teb. "J" | each off around a point.
Steels were easier on balance, Motors were narrowly mixed.
continued Coppers showed improvement as Custom Smel- ter's boosted prices.
Today's volume was 3,170,000 shores.
| Armour ......
Allas Cone. Mining Balwr-Insa-Elam.
Baltimore
Olaka
Bank of Mruderal feneficial Financo
Bend Aviation Corp
Benguet Cons.
In
Dow Chemicals
New York
8% Heyden Newport Coral
Motorale Lov.
National Biscuit Co.,
York Central
Norfolk & Western y.
Northwest Airlines
Owen-Elinela Glass
Qaford Paper Co. Fachlic Gas & Elec.
Faturantetures
Parke Davis Cu.
Penny J. C. Cu
Cons
Pitney Bowes
Praeter cambia Co, Plug Plate Glued
SM | Publiekër indistries
Pine Of
Ratio Corporation
Ifadle Corp. Pref.
itsjoblie Steel
Reynolda Melal
Bank of Canada
1014
32
Dupont de Nemoura
25536
341
stern Ale
48
National Cash. Beg. “A”
Eastman Kolan
1
3057
National Dairy Prod.
21 Pew National Gas
a
10
National Lead
Ponilly Finsare term.
39
1
Firestone Tyve & Paber
117
National Steel Corp.
$17
First Nat. City Bank
15
Noranda Mines Ltd.
$92%
Tar Motor Co. of Can
117
1ほつ
Ford Moto
-73
Barth Amer, Aviatiori
#2
363
Geargin acille
40
General Dynainles
HOT
Gin Mathlean
General Electrte
431
Quis Mirvators
General Foods
113
312%
Cuneral Motors
90
Gen. Tyre & Rubber
7311
Celly ....
217.
Pan American Altways
Gitlery Co.
EAT
Goodrich U, F) O
31%
Goodyear Tyre
13
Grumman Aireratt
Penn, Sait £'.
17
Gul ou
JE
fatmund Or
721
T'hip or rậm
41
20% Flumenake Mining Co.
42%
70
Husman Betrak.
4422
1
Idaho Powe
Bethlehem Steel
THI
Togerseli-Hand
|
Boeing Airplane
343%
Inland Steel Co."
5312
Norden (TŮM CO
2014
terchemical Corp
Burroughs Add_Machine
30%
Int'l upes Muebles
443
Bu thepn
British Amer. Oil
3917
Int Harvester .....
5414
Calif. Packing Corp.
C4%
International Nickel
10122
10
Cosi Ok. of Comma.
83%
International Paper
1230
Campbell Soup Co.
Int'l Tel & Tel
37
Sears, Roebuck & Eu,
Chundian Pacife H.
201
John-Morwille Co
El Oil Co...
averages Cave 13. 1.1 Co.
221
Kaiser industry
2075
Safeway
Col. Tector
115%
Kammes C. Power & Light
8.34.24
Celanese Corp. New C.LT, Financial Corp.
343%
Kennecil Copper
1042
Kimberty Cak
G71
Liggett Meyers Tub. Co
29.10
Chuett Pealiy
4765
Lily Toup
Colgate-Palmužve
10
Litten Ind.
Colombie Carbon Co
+3
Lockheed Aircraft
2
prica index 140.90
Connierein) Credi
0412
Loews Incorp. .....
Comvolitated Edison
6324
Lone Star Cerucal Co.
31
Continental Oll of bef.
BER
Lowenstein & Sce
Craze Co.
4817
McDermott J. Ray
414
Crown Zellrybach
5424
McDonnel Airemnít
3 381
Cuban Amer. Sugar
20%
Mesabil tron Corp.
341
Diamond Alkali
GO
Minnesota Mining.
147
40
Diamond Gard
32
Mision Development
2431
11012
Domialen Store
714
43xd
Douglas Aircraft
4432
atensanto Chemical Co, Mertgomery Ward
ક્ષમાં
491%
Of a total 1,216 Issues traded, 386 were higher and 803 lower. volume American Exchange was 1,300,000 shares.
Bonds volume amounted $4,190,000.
Dow-Jones
According to reports, Dairy Farms have a very good half- year balance sheet (last year their cattle had foot and mouth disease). Although the com- were:
the catering industrials serviers al the new Hongkong 20 rally airport to Miramar Hotel, the 15 les share rose to $17, a gain of 700 brady cents on the week This is a new Comm. future high for the year.
Utilities
All utility counters had good Ruins of the week ranging from 80 Star Ferry at $126, the highest it has been since 1957- to 40 cents for China Lights al $10.30. With this week's guine the majority of the utility shares are now is the six per cent yield bracket, after being seven or | eight per cent of the beginning
of the year.
Profi-taking Gent Wharves down after last week's rise, but stil poems ut $104, this share over-priced.
X-
After
being quoted dividend this week, Textiles had by yesterday regained 50 cents
their of
05-cent dividend. Nunyaugs also tacked on 50 cents 10 elese at $11
AI
clase the
yesterday buyers
predominant.
of business
were 5411
Market Diary
Here is a market diary of the week:
119 States Investments quotations in Friday:
American dollars. The buyer's quotations include commission:
1189
119
12511
Amlated Fund
1273)
An Bus Shra
Atom Dev Mut
Axe fought B Balinck Fund Canada Gen Fo Canadian FC
Chemiest Funt
Comwith Black
Canadian Int Growth
Beliers Buyers
1.87
F1,443
4.33
4.82
5.77
0.30
T20
8.95
9.11
15.8J
18.45
15.70
18.DE 20.46
- 9.62 10.81
11.80 12.76 Monday:
10.23 17.04
10.33 Tuesday:
224
210%-
220..
22502
Dividend Sh
3.13 3.43
Dreyfus Furki
10,5z
120-133
13.20
Eaton Sluck
24,00
26.00
Electronics Joy
7.45
8.14
Fount Mut Fund
Hama Fd HC-7
Iratit Found
J1.24
12.03
-UPL
P.I. Mission
Manila, July 10, Two nailonal rice and corn corporation directors have left for Tokyo and Hongkong to market abroad Philippine sur- plus rice and corn.
The mission of the directors, Ramon Enriquez and Maximo
Colalang includo the surve
Iratis Growth Inati Income Invest Tr Boston Keystone Chat B2 Keystone Canada.. Most Iny Tr Mam Growth; Nat Bee Ser Growth Beudder St Cl.... Telev El Fo..... Value Line Fund V, I. P.
Wellington Fund
1.02 7.00 11.02 13.03 22.47 24.41
13.92
15.08
14.35 10.31
19.5T
15.73
0.04 456,13 41.15
10.70
12.03
11.00
Irregular with
centred
market Interest
03 blocks
closing!
Closing Prices
Abitibi Pur. & Paper Alten Ing. ART. ****
Algoma Steel Corp. Allied Chemicals Allied Mall Inc.
158,39 Chrysler Mintors
21992 03.11
Yesterday's Closing
COMMODITY PRICES
SUGAR
NEW YORK
Closing prices per ib.:
COTTON
NEW YORK Closing prices all cents per 1. all in
Spot: 34.45: 32.20: March: July 32.36: 39.30.
་
Contract No, I (world)
Sept: 2.0-42:
get: 3. Jan: 2.08 March: 3.31: May: 2.84; July: 2.88; Sept: 2.01: Det: 2.81; pol- 1.0.b. Cubos: -2.05.
Total Sale 689 conltDOEN
Open Interst; 1986 confidets.
Contract No. 8 (domestic)
ол Land and utility shares. Bonks and Insurencos 5.49
5.78. improved on
de-
Sépt: 1.4; Nov: 5.20; March:
Spot-ic.l.f N.Y. ex-duty):
Total Sale: 3.202 contracts.-
in and... «T/ O::uri.... $1,000,000.
Firm and bullish. T/O: $1,714,000.
Uulitics outsland- Ing with substantial riso 遐 Phones, Trams and Ferries, In spite of some profit-taking which was readily absorb ed, the undertone In all sections_re- mained firm. T/O: $1,730,000,
17.00 Wednesday: Lands
Exchange Rates
Business was done in the i:eot exchange market this
of foreign markets on the The Danish Folketing (Paravallablity and pricing of zen- Hament) endorsed last night the tial and semi-essential producer unofficial government proposal that Den- goods and essential consumer morning at the plowing rater:
V.8, doliura (per $1). mark join the tree trade ares of goods that would be imposed secret notes (per £1) the Outer Seven by 80 votes by the cereal agency through Australien now iper £1) ....... to six with 79 abstaining the use of dollar proceeds of the Indonesian rupi (per 100) .. 20.60
Slam tosis pine 1001 China Mail Special.
exported Fico and corn.—UPI, · Singapore (Biraita)
3.77
18.94 Thursday:
12.05
378
receded
METALS
SINGAPORE
Storen
Saint Reg. Paper Schenley Jac.
C91 Scott Paper
Sinclair D
013. Sunith. Curs & Fren 122ter Aircraft
Socany Mubl Oil
South Puerto Nice Sugar Routhern Co. (The) **** Southeru National Go4. Southern Railways Standard Brands
3024 | Standard (31 of Col. Standard Oll of Ind, Standard On of N.J. Stten Nack
Cloring prices all in Straits. cents ports:
per t .o.b.
Nu, 1 July
AUX.
No. 2 July No. 2 July
in cents No. 4 July
Oct: 33.34-35; Dee: 32 05: May: 2.71 Oct: 30.41 Deo:
NEW ORLEANS
ptt rubber unbated Banker repe
Na, pale erepe
LONDON
Malayan
Sterling Drug Co.
Stokely-VanCamp. Bione & Webster Studebaker-Packard Sunattine Mining Swift Co.
חייך
Textra inc.
Thinkah Chem.
Tide Water Asan, Oil
Time Ine.
(Com.)
Corp.
Tri-Cent. Warrants. Twentieth Century Fox Flas Union Carbide
Elon Oil of Cal.
Open Paclite Tallway
United Aircraft
United Fruit_
Valled Gan Cerp.
5. "1"
VA. Gypum
US. Line Co.
0.9. Rubber
U.S. Suvlig
028-07:
TL.9. Steel
07-91- DG-07!
15-415
03-00 97-0-073 04-0015
30314-10435
1. Steel 7 T.C. I'F Warner Bros.
Waukesha Netor
Westinghouse Air Brake Westinghouse Electric Western Union Tel. Co. West V. Pute Paper Winn-Dixie Stores Woolworth K. W.)
Closing prices all In pence Zenith Radio
per 1:
No. 1 sat:
Closing prices all in cents estigment house torn: per 1
Oct: 2.37: Spat: 33.0); 33.50: March 32.57; May 27.12; Jolv: 3.30; Oct: 39.55: Dee: 15.30. LIVERPOOL Closing prices all in per b
thick, July..
2016-2312
Get/11.
2016-2017
Jan/March
2011-2012
Dvc:
April/June.
July/Aug.
Oct./Dec.
pence
371-20 270-277- General markete, c.lf. basis, parte:
2876-0916 July Auk Estate crepe bin
July..
American-Contract.
July/Aug.
Oct/Nov.
22.45 21.19
21.00
March/April
May/June
July/Aup.
Mixed Contract
No, 2 rubber
No. 3 rubber
July/Aug.
No. 1 CJNO
21.40
21.37
1,30
Dec/Jen.
Oct/Nov.
DCCJJen.
March/April
May/June
July/AUR.
All unquoted.
Average price in 1.9. at 14 c
signated spot market: 3.61 cent.
BAO PAUL
NEW YORK
July
Closing prices, all per lb
Lead
In cents
[1.27b
Sept.
11.40
Zine
July
10.73b
Copper July
Bept.
10.630
Total sales: 8.593 balea.---UPI.
29.019
Sept
28.00-pt
Tin July
IDE.75b
b
Sept.
101.761
LONDON
little Dn profit. talding while other utilities showed sight gains. Banks and Unions Im- proved, while Docks and Wharvca dvallard $1,818,000,
Continued active. Buyern W Cr predominant. T/O: $3,491,000,
Closing prices, all in sterling per long ton.
Tin
month
Spol TO: Copper
Hpot 3-month
כננ
RUBBER
NEW YORK
Rer rubber futures
Buyers Sellers
791
723
7903
closing
224
224'
prices, all in cents per lb.; "
July
216
Belt.
Lead ist häll July
Nov.
Oct.
709
T
JM,
Hine ist half July
PL
July
March
AMSTERDAM"
Clest prices all in guilders
per kilogram, ek, July.
No. 1 rubber
2.74 nom.
2.73 ye
3.70 buy
-UPI,
SUPPORT FOR IKE'S
REQUEST
New York, July 16..
200 buyers The Morgan Guaranty Trust Co. today came out in sup- port of President Eizen- hower's request for an and to the interest ceiling on government bonds and for à higher dobe limit
FOREIGN EXCHANGE
NEW YORK Closing rates: Canado,INT England official
30-days
་།་ 90-days New Zea South Africa
Others unchanged.
LONDON
Closing rates:
34.93 24.80 3141-43 Frankfurt
New York Mantrop
34.10
33,25
23,70
53.00.
Porle Biockholm Zurich
At the same time the bonk charged that "the contrast bo- Iween Congress' reluctance to free the interest rate and its 164 Mai | quick approval of another
stretch in the debt ilmit in dicates failure to face the realitics of pubile dance."
3.52 3/10
2.81 7/32 2.00 1/4 2.31 6/0
It said that the present "obsolete" interest celibig has forced the Treasury to conine itself to altari-term borrowing, 11.78 3/8-11.15 5,0) which "carries a high in- 13.29 1/2-13.79 34 ftationary potential and" week- 14.64 5/8-14 53 720
home and
2,01 3/10-3.81 8/10 2.00 3/3-2002/4
10.13 1/2-11.11 32 on the dollar at
abroad."-UPI. -UPI.