New York stocks
Now York, June 20,
Stocks moved sharply into higher ground
today.
The advance was general and practically unani-
THE CHINA MAIL, WEDNESDAY, JUNE 21, 1961.
Show good gains
mous among steels, electronics, metals, rubbers, McDermott J. Bay
and other leading industrials.
Gains of one and two points were all over the list,
of
The Dow Jones Industrial Average gained a hardful poluis ruflecting strength in De Poat, US
Chrysle Steel, Anaconda, Eastman
Kodak, Procter and Gamble, anci American Telephone. Rails and utilities wer is higher on average.
23rukurt C
Bethlehem Steel
Boe.138 AUTO Börden des
this Add Machine British Amer. Dit British Columbia Pwr. Calif. Parking_Corp. Cana, uk, of Coinm. Cana. Brewers Campbell Soup Cu
117 43
| McDonnel! Alteraft Mesabi Iron Carp, Minnesota Mining Milsalon Development Monsanto Chenifral Cu
403 | Montgomery Ward
Mutoruta Luc.
SIA.
Co.
National keur 312. Nallottai Caan Beg, “A” 34 Nationní Dalry Prod,
U.S. Sicel 7 P.C. P.. Warner Bros... 11 Waukesha Motors
1534%
53
Wertuigbourg Air Brake Westinghouse Electric Western Union Tél. Co, West Va. Pulp & Paper Winn-Dixie Stures Woolworth (K. Wo
2745
767
Zenith Hadio
132X
67
471
New York Cenite
National Lead... National Steel
93
9312
Noranda Mines Lu.
1014
Norfolk & Western Ry. North Amer. Aviation
30
Northwest Airlines (Com-)
Oxlahana Nat, Gay
7372
Olm Mathisan
Zenith, Poland and IBM rolled
Chase Manhat. Brake chuyler Mofos
76%
Olin Elevators
48%
Oxford Paper Cu
Colgate-Pabolice Co.
Minneapol
Canadian Pacific H Cast 1.7.1 Co.
Cat. Tinctor
Celanese Corp.
Honeywell. I. T. Flanel Corp.
up nearly three or more in the cluott Peabsidy Klamour entegory. Boxter Lab, Colombian arben Co. General Tyre, Paramount Pig-Commercial Credit tures,
Litton were other | Cheung Glass Worka strong spots.
Lockheed added around 2
in defence group, the stock rising actively to a new
high. Consaldated Edison rose more than two.
Today's volume was 3,280,000 shares.
Of a total 1,253 Issues traded,
Com-lidatedt Edison
Owens-Illinois (in
Pacific Gas & Etre..
Pan American Airway
Paramount Pictures
4412
1760
Packe Davis Ca
Penny J. C. C
Penn. Salt Cu
1724
Philip Dela
407
Centipratal On of Du
530
Charalidated. Patur Commere Gian
Continental Con.
Creole Pet
Crane Co.
aftown Zellerbier
Cuban Agar. Sugar Delaware & Hudson Diamond Alka Dinmend Nail
005 were higher and 351 lower. 120tallips-kongram
American Exchange
was 1,230,000 shares.
Volanerics Stores
Bonds Volume amounted lo
$4,710,000.
Dow-Jones closing averages;
30 Industrials
20 Rall
15 Utilities
65 Stock
10 Bonda
Cummi future
pricus
index.
Dongbos Airers!)
Dow Chemezi
Closing prices
Abitibi Pwr. & Pape
Adres Ine Ang
Algoma Stoel Carp
Alued Chronicate
Allied Mills Inc.
Firestone Tyre & taller 111.92 FI Nat. "City Bik
228.16 Ford Matur
04.00 General Tynanies
General Electric General Foru 145.01 General Motors
61 Grurutan Airriæft
$100
Sett steg. Paper
HONGKONG EXCHANGE
STOCK
Our Own Correspondank
Business done at the long- kang Stock Exchange the morn- 34ing mounted to approximately $8,000,000. Noon quotations and the murning's transaction:: Share Muyo! Sollers 1 Bank
77
100
-UFL.
on
20418
to 420 200420
$8.5% 16 $200
320 470
20422 150 420 100
Wharf Talkou
450
400
400
70 704
1400
10
300
301
203 10
HK Cins
23.20 23.30
280 4 23 to
500 23.43
500 23.40
The investment experts have been buying_up
sound
securities
(The_London_Stock Exchange has ended a distinctly uncertain week, u re- flection of uncertainty of the British economic aulook. What's going on in the Cuy? What should the investor do? Expert William Davis, City Editor of the London Evening Standard supplies the answers.)
By William Davis
London, June 20..
Investors have had another trying week. After a reasonably steady start, helped by a rally in sterling, disappointing trade figures on Thursday gavé prices a nasty body blow. The tone at the close was decidedly dull.
110000 It is however, easy to exaggerate the slide. Business remained small-
10023.45
3500 23.9
204023.40
100
3000 23.34
16.00
17 XXX
9000
17
8000
12
Cana 16.03
2000
1003
2016.0
7300
IK Dock
313 114
400 1/ 100
100
Ch. Prov.
25% 35%
1300
30328
Pitney Bowes
Procter & Gamble Co,
Pittsburgh Plate Glas
Portland Gyn. Elec.
Publicker Industries Putinan
Purr 011
Redto Corporation
Studebaker-Packard Corp.
Big scramble
for tin in London
London, June 20.
A big scramble for tin
the
London Motal Ex-
change today broke the Wheelock record for turnover and
pushed the price of spot
ton
C points higher this afternoon to £885.
A turnover of 4.800 tons was chalked up in the day's 1wo dealing sessions, shattering the 1,185 tons record which had existed since November, 1957.
There were very hectic dealings in the scramble to take tin from the International Tin & S. Council's buffer stock wilch is sold at the £800 a ton level.
STOCK EXHAUSTED
Once this stock was exhausted | BT the
price went 10 £805
for K Lon:1 delivery in three months' ime 52 the price went to EU03.
The International Tin Coun- ! ell said tonight that its buffer stock manager had withdrawn as a seller on the London Metal Exchange at the celling price in 7 the agreement ut 800, as the
stocks of tin at his disposal, were exhausted.
After the afficlai another 240 ton exchanged hands with spot touching 2000. Textile -UP1.
UNIT TRUSTS
First Hengkong Fund: $1.33 BK Tram.. (bayer), $1,41 (seller).
2000
550 13%
61 35
461, 4671 10304874
15 Sorony Mobil Ol...
Southern Natural Gas
Standard 1rants
74
4134
Hadio Corp. Pref
304,
Raytheon
tin Sử
74
Republie leel
301
Reynolds Metal
523
B93
iteyziotita Tobacco
12221
gent Nemours
216
yal Bank of Canada
tera Air Line
751
Royal Dutch
3344
Fadman Kontak
10423
Wheer Mfg.
P1 Pano Natural Gas
261;
Sears, Roebuck & Co.
140.31
687.87 Family Pinner Comp
Fear Cop
444
Shelf on
Safeway Store
471
19
013
Schenley Ine.
30
Scott Pager.
1123
Steeler Purp
201
Stnclair On
401%
Smith, Kine & French
40
Gra Tel & Wor Gey Tyre & Rutzber Cetty Of
South Puerto Rich Sugar
74
Southern (o. (The)
Suthern Paelle Ca
$40
Southern Ralway (Cont.
Goodyear Twe
1.
Sperry Rand
17+
Great Northven anvis
15
Stredard on of Cal
Guit t
307
Standard Out of Ind.
Alll; Cheimer
251
Hampton Oaks,
Ston.hard I of NJ.
44
Am. Urake Slee
-10
Hoyden Newport Cup
247
Steep Rock .....
Amerkan Aldine
241
Huiam Walker
50
Sterlag Drug Cir.
Am. Diable & Radio Corp.
Homestake Blog Ca.
an
Stokely Van Camp.
American Cyanid Co
4512
Hewoan Refibe
22%
Stone & Webster
Amer, & Foreign. Power
Idato Powe
Ams. Ces & ectric
Imperial Dil
454,
Sunshine Mining
Am. Home Prod.
Swift & Cu.
40
+
Texas Co.
334
Joland Steel. Co
43PM
100%
414
Interchemical Corp.
Textron TBC.
25%
Int'l Business Stachme
Thickal Chri
42
269
Am Kostar itef.
34
Int Harvester
American Tel & To
International Nicki
The Inc.
7414
Amertean Tob.
Intertiational Paper
30
Traders Finneg
Trivellers ne.
1101;
Aimpex
24137
In Tel & Tel",
Aussponds Comper
37% Jolas-Manville Co,
Tri-Cunt Warrans
៥:១;
Amco Strel
14
Kaler Induriries
Twentieth Century Fox Fil
423%
102
461
Kansan C. Power & Light
7214
Union Carbide
130
Kennerofl Copper
Union
on of col
7
Koberly Clark
2014
alon Pace Batiway
12 Liggell & Myers Tobi.
United Aircrafi
Loty Tulip
United Fruit
€55
Life Stic
11012
United Gas Corp.
Bank of Nova Scotta
72
Lochined Alterati
$0
US. Gy
B. C. Tel. C.
Loews Itcorp.
273
VS. Jar Co.
14 4
Lone Star Cement Cu
U.S. Rubber
407
1.9. SmekINK
Bendix Aviation Corp.
Some
141
V.S. Steel
Am Mochi. & Filty
American Metal
Am. Natural Com
Amerigin Spelling
Armour
A Der Corp.
Allis Cons. Mining
Batwin-lama-Ham.
Baltimore & Ohio
Bank of Montreal
Bell Telephone
Beneneind Finance
2014 Toperial Tobacen
get soll-Rand
Tide Water Oil
fetet
4000 404
און
on Wednesday markings were the lowest for five months-dealers report a disinclination to open fresh commitments rather than an eagerness to sell.
London stocks
brighter
London, June 20.
30
Jobbers were only too ready to market prices down, but even the ordinary shore Index shown a fall on the week of no more than three per cent.
There is no point in hiding the fact that May's trade Agurgs were extremely disappointing. They certainly emphasize the need for caution at this stage, but I do not think they justify rash decisions to sell.
Shrewd Investment experts like Mr Lewis Whyte, the braing behind "Save And Prosper," Britain's biggest unit trust group, have been using the setback to
After their three-day sliding, stock markets show-buy up sound recurities.
ed a much brighter appearance today.
Leading industriali were dealing but prices were looking looking much
cheerful stendler. nure and useful gains were seen. Im- į 300w 18 perial Chemicals and Courtaulds were undecided.-UPI.
500 247
SOU 40s;
250
70
北
ABCD
Rx.
50 501%
20
50
DGO 50%
300 W 301⁄2
Yaumati
136
137
600 137
000137
Watson
Allied Invest
530
2000 13.0
cluse.!
POGO 13.60 |
jumped 1/9 to 73/12 and 38/3. respectively.
Steels galaed ground and 2000 13.80 breweries were looking better.
10001370
5000 11.co The gift-edged market was 2000 13 favoured but closed below best.
1.05
7.90 14000 4 7.00
33.20 13.40
2013 40
1000 13.50
500 13.41
4000 13:30
A. Rubber.
5.00
€1
2000 0.00
4000 47 0.741
Rubber T.,
1.90
U
1000 7.00
2007.13
4244
43
300 431%
63IKI 424
10042
-4043
1000 12. #00371 FOCOT, 200 + 38
W
Loans and insurance shores while banks were firm
were
anixed.
To match
lower prices on Wall Streel dollar stocks weakened.
O shares were a firm mar- kel. British petroleum was two i shillings higher lo 30/3 and Shell nearly the same amount to 128 shillings.
Greek again weakened in foreign bonds.
The gold share mained confused
Hubbers were duti while teas
Closing prices
sritish Government Securities 2. Consolidated £39-13/10, 37 Converstoti ES1-5/10. 3. Savings 1054/35-£91-7/32. Savings 1960/70-78-7/10.
1685/75-N. ar Loan-254-3/16.
Ovotrex Boudy German Dawes)-C02, S, Japanese. Assented-£150.
Banki & Insurance Barclays Ord-70s. Chartered Bank-34 D. Guardia Anurance-d}}!. Hongkong Bank-182. LJays Bank Bộ
Lambard Blanking Ord-30s 4lad. National & Crindleys-325_94. Prudential Assur. "A"-£23-1/16. Raval Insurance Ord-163e.
1
British Po 30.
Burmah market re- regarding
100002.035
52.85
Second Hongkong Fund:
$1:
(buyer), $1.00 (seller).
Ch. Light.
37
38
Electric
33 30 110038
200 30! 3600 304
7300 w
Telephone.
1330 B3
50 50 2500
ICHAE
5082
1000
Star
212
500 w
HK & FE
Ιην,
..
271 27.00
1000 10 BE
1300 + 50
300 / $0
10.00 12.64
1.81
G.J. Centent
1000 i 201
Realty (N)
-40000 2.825 23700 2.70
83 63* 2.35 Ferry
3.40
Cilman
00
3909
100 09 1315 402
1300
125 40
200+ (0
300 40% City
1000 40,
20.40
3000 26.10
2.83
Hotel H
Lane, Craw. 31%
AMSTERDAM
Closing prices' all in guilders
per kilográm. c.lf, July:
No.
1 rubber
No. rubber
No.
robber
No. 1
crepe
200 240
300 27.Ko 800 or 23,70 500 27,80 A200 21.00
3.45 22030 tại 290 7000 5.44 2000 5.40 2000+ 5.40
4000 or 5.45 6000 1 5.45 2000 - 5.40 20 2414
3134%
200 2000
52
BIS
10,70
NEW ORLEANS Closing prices all in cents per 1b.:
4.20 buyers
Spot
32.25 vom
пусть
July
31.13
2.22 buyers
UCL.
34,01
2.51
buyers
Dee.
34.50
-UNI
Mar.
35.20
May
33.50
SECOND HONG KONG FUNDI
UNITS ARE SECURED BY SHARES IN 25 OF HONG KONG'S SOUNDEST PUBLIC COMPANIES
All Shares included in the Trust Fund are shares quoted on the Hong Kong Stock Exchange
SPECIAL OFFER
OF 300,000 UNITS
AT $1.03 PER UNIT
TRUSTEE: HONG KONG & SHANGHAI BANK, HONG KONG (TRUSTEE LTD.
The offer opens on Thursday, 22nd June, 1961 at 9.00 a.m. and closes on Tuesday, 27th June, 1961 at 3.30 p.m. Applications must be received at the offices of the Managers, Hong Kong Unit Funds Limited, 7th Ficor, Alexandra House, Hong Kong, or P.O. Box 690, Hong Kong, during that time,
Payment must be made in full at time of application. If the offor price exceeds the normal Managers' selling price on the day the opplication is received by them, a refund of the difference will be made.
This offer does not affect the underlying value of units owned by existing unitholders.
APPLICATION FORM
Applications must be made in multiples of 100 units, subject to a minimum holding of 500 units in the first instance.
To: HONG KONG UNIT FUNDS LIMITED
I/We hereby apply for
units in the Second Hong Kong Fund at the advertised price of $1.03 per unit, in accordance with the conditions contained in the offer and subject to the terms of the Trust Deed doted 14th March, 1981.
I/We enclone cheque/moneyorder/cash for $
for the number of units applied for. I/We understand that the money will be returned
to me/us in hill if no Units are alloited.
I/We declare that I/We am/are over 31 years of age,
SURNAME(S) (In English)
(Block Letters)
(ano sinte Mr., Mr, or SU)
OTHER NAME(S) IN FULL ADDRESS
SIGNATURE(S)
Agreed merchant
Belgian selling 857.
rates
Franes, maximum
Exchange rates
0012 Business
WRS dobe
Jural In the
Dairy Farın 40% 4012 unonicit exchange markel this j morning at the following rates US dollar (per $1
Sterling notes (per E Australian noles (per C indonesian rupialt per 100) Stam teal (per 100) Singapore (Stralis)
3.40 Hurdreve
21.60 Heatly 101 2.3 1325 10009
13000 2.25 Int'l Invest 16.30 10 1000
COMMODITY PRICES
SUGAR
NEW YORK
Closing prices, all in cents per
Jb.:
Contract No. 8 (world) July: 304; Oct: 3.0; Mar: BIDY: 2.37: July: 2.07 Sept Def: 2.97: Spot-World Average:
Fotol Sales: 24 contracts.
Open Interest: 37 contracts
Contract No. (domestle) July: 0 Sept: B36: Nov: 0.20) July: 8.32: Spal (Buk, duty paid): 0.47.
Telephone No.
Date
RUBBER
2.07; 2.09:
METALS
SAO PAULO (Closing prices all in cruzeiro per kilo)
Average price in U.S. at 24 de- signated spot markets: 31.25 ennis.
Total rales: 12,808 bales.
LIVERPOOL Closing prices all in pence per
25.40
5.50
· UPI.
NEW YORK
lb.:
Total Sales: 60 contracts.
Closing prices all in cents per jb.:
American Contract
July
23.70
Open interest: 2.140 contracts UPL
Lead
Oct.
34.15
Juty
10.00
Dec.
24.45
Sept.
18.60
Mar.
24.43
Zine.
May
25.00
July
1050
July
13
Sept.
10 50
Mixed Contract
Copper
July
24.03
July
30.14
Sept
30.45-34
Oct
24.30
Oc!.
Dec.
24.04
29.90
25.03
Dec.
29.03
Moy
NEW YORK
Jan.
70.PS
Mar.
July
being payment in full
Rubber futures closing prices, all in cents per lb.:
May
20.73
July
July
KPK Яtandard 10.10
30.00
Sept
24.33
29.21
Nav,
20.20
- 29.05
Jan.
29.95
29.00
per long ton.
Mar,
20.03
Buyers Belters
May
78.03
Tin spot
304
186
a month:
DUZ
504
Copper apot
23016
23014
21470
23492
3-month
537%
Zinc sput
Closing ratex:
J-nonth
Canada
- UPI.
England octal Australia
Corporations
(In the case of joint applications all persons must sign. should complete under the hand of an authorised officer whooo designa- tion should be stated)
CM
LONDON
Closing prices, all in sterling
SINGAPORE
Closing prices all in Strails
per ib. 1.0.b. Malayan Lep
041-841 0412-812
84-14! 0314-01
507-0124
cents
ports:
No.1 July
Auz.
No. 2 July
No, 3 July
No.
+ July
Apot rubber anboted
BA15-0416
Blankes repe
732-721
DIE-02
No. 1 pale crepe
LONDON Closing prices all' in pence per
FORLIGN
EXCHANGI
NEW YORK
New Zealand South Africa Belgium........ Others unchanged.
LONDON
Closing rates: New York
COTTON
NEW YORK
Closing prices all in cents per i
Labo
3prin Stockhop
ib.:
No. 1 To
Setileinent rouse term: July/Bept. Oct/Dec.
22475-25
5-251
Jb.:
Jan/Mar.
Fipot
July
NOTE: Detailed Information Folder is availablo from Hong Kong Unis Funde LimlloK. 7th floor, Atorandra House or P.O. Box 690 (Tel. 28100) or from Icading Banks, or Members of the Hong Kong Block Exchange,
Det
Clonera) mackota, c.11. Donid, "pogji
Jine DL
Jur
22015
Mar.
tato crepe thần tuy
다.
thick July
54.50 nom 33.30
34,00
20.53
33.30
1,00-5/04
1.2120 $7700
12070
C00000
2.78 13/10-2.70 15/10 2.781-2.7094 10.00-10.02уA
Montreat
Amsterdam
I
Copenhagest FORJATT
131-193
10.00-50,15 19.00-19.00%
13.90|3-13.0094
14.4114-16411⁄2 473032-1731
17.00%-100%.
UPI
Vienna Zurich
ud.
Sicil Transport Ord-1208. Royal Dutch-12-15/10. Vitramar Company-31 4d.
Steels Engineering Babcock & Wilcox Ord-305 4. Dorman. Long-34 Od. Uuest. Keen Ord d Hariant & Wolf Ord-16: 1041⁄2¢. Stewarte Lloyda Ord-466 0. Summers & Suns Ord-51 7. Tube Investments-71n dil. United Steel-57 61. Vickers Ord-1s.
Electric Assoc. Elec. Industries-400 0. Brit. Electronte ind.-11e 415c. Elec. & Mus. Industries-418 30. English Electrie Ord-349 Ed. General Electric Ord-33 Cu. Philips Lamp Works—C11. Rediffusion Ord.-43 714.
Industrial
30.
Assoc. Portland Cement-78% (ld. Boardman Marden Ora-dis 3d." Horax (Holding)--tan 1019O. Deres Records Ord-01 Dunlop Rubber Ord-25% 1012. Fiona Ord43. Gilman (Holdings) Ord.—0s 3d. International Commalgram9lo. Turner & Newall Ord-045 111⁄2d. Vallever Ord4 74. Wingian Teape Ord-60s.
Chemicals
Imperial Chemical Ord-718_1ach. Monsanto Chemicals Ord-21.
Cinemas & Television Moss Empires Ords Od. Ink Organisation Ord.--28 kl. Stoll Theatres--75 7!yd.
l'aper Bowater Paper Ord–303. De La Itue Orij-594 61. Spicers Ord-dia 02.
Tobaccos
British-Aræer. Tob. Ord-63% 30, Carreran "1" Ord—is Bd. Imperial Tobacco Ord-
Alptors
9,
British Motor Ord-15s 01. Hawker Siddeley Ord-20s 7120. Inguur Cork Ord—-100s, Flais-Royce Or1--431 34 Westland Aircraft-100 4140,
Textiles Bradford Dyers—161 140. Calles Printers' Ord-123 10190. Courtaulds Or-38 4sgel. Vion Sphere Ord-20s Od. Lancashire Cotion Ord-Gen Cal.
Urwerken
Distillers Co. Ord-31s 10til, Galnuers (Arthur) Ort-53% 20. Int Coope Ort-12.
Grest Univer lores
Ord-309. Great Univormt "A" Ord-30s 1950. House of Frator Ord-001 And. Dyuni (1) "A" Ord=185 60. Marks & Spencer "A" Ord--110■
Tate & Lyle Ord--47a 4143. United Drapery Ord-72 134tl. Woolworth (F.W. Ord-ajah"750, Miscellaneous
Bowmaker Örű-2la 4ýjú, Brit. Commonwent ship. Ord.-ala: Tänadian Paatītu Ord-M0F6. Cunard Steinship Ord-19% 44d. Forestal Land & Timber-178 told. Hongkong & China Clas−130. Hudson Bay Co-£9. Indo-China Det. Ord-224 30, Land Becurities Ord-33 <
P. & O. gleam Nav, Déf-—40r 38.
Miner
Briljah Ila Investment—489. De Benre Dol—1209.
London Tin Carp.-19ə Q. Mount Tra
Petaling Tin
Rhodesian Anglo-Amer. Ord-30a.
hokans Corp-434.
itio Tinto (Bouzeri-38 134. Rosa Antalope Copper–1063. Union Corporation=-448 434d. Walkom Cipta Mining---}}}}}| West Hand Investment Trust-
Western Ioldings—-1054,
Hunter Teli Anh truonesian Fini-4 th
Ceylon Tra or299. Imperial Zen·5)rch=160. Kuala Lumpur-Kapong-da 3 Lasbak Rubber-dis 3d.
Reuter.
GOOD VALUE
Quietly he has used the group's working resources to invest some 2541,000 in stocks for his Crosby income portfollo and is now offering two million units to the pubile. They seen to me good value.
Should investors follow suit? Basically think it is a sound polley to buy selectively during A market selback.
Speculative Issues which do best during a market boom
■hould at times like this bo treated with "exceptional cau- tion. But good long-term In- vestments, which have dropped chiefly because of the often make general trend, profitable purchases.
I feel that in the present 101- certainties prices may so lower 01. But I do not believe there will be a slump and I would watch carefully for opportunities to pick up sound shares cheaply in the next few weeks,
A FINE BUY
Alfred Herbert are a fine buy If they fall to 70/-; John Harvey, the Bristol Cream Sherry Arm I looks a good buy at under 40/-. To the speculative-minded I issue this warning: Take a holl- day. This is a dangerous time to play with shares, especially If your means are limited.
Even "stagging" so easy in the past months can lead to some badly burned fingers. Home and oversens insurance, heavily over- subscribed last week, now stands 3/- below the offer price.
If you have real condence in the market, 'eptlons might be a suitable venue at this time. For 3/- you can buy rights to take up for examaic ICT at to- day's price In three months time.
If they recover by more you gain. It not, you at least know the limit of your loss.
London Express Service).
New York
cotton market
New York, June 20. Cotton futuros today
sawed narrowly in quiot dealings as traders ovaned up in the spot July delivery before first notica day on Monday.
Finai prices ruled of 15 to up one point, The market opened off 10 to up points, New Orleans closed oft úno to five points. Switch
bir
Activity Involved exchanics of July for October, October for Decembar, Decem- for March. Also some small outright liquidation in the spot months at 80 points under October.
Quiet conditions continued in the cloth markot, and Where was no sign of activity in the spot market beyond the routine pace.
The government weekly crop report said higher temperatures braught rapid Improvement to the cotton crup. Development has been excellent
tar scuth- west, although progress is stil behind normal in some sections because of earlier cool weather. Squares are forming over two- thirds of the Arizona and Call- fornia scrcAFE. Texan planting is now 85 per cent completed. UPE