WORLD RUBBER MARKETS
New York, Jan. 31 The No. 1 Res rubber futures contract today closed 15 to 30 points higher with sales of 282 Contracts.
The new standard contrit closed 20 to 30 points higher
with sales of 22 contrnets,
under
After a good-sized early gain, mainly on technical reasons, the markci dropped back hedging
quidation yet Antahed with n fair-sized gali
und
A good part of the terminol market budnoss WON
קי
TRADE
THE CHINA MAIL, WEDNESDAY, FEBRUARY 1, 1958,
and
COMMERCE SECTION
EPU Had Satisfactory
HONGKONG STOCK EXCHANGE
This
(From Our Correspondent)
Business done on the Hong- SLock Exchange kung morning amounted to $540,000. Nunu quotations and the mor ng transactions;
SHARKA DUYERN SELLERS SALES
pented in switching operations | RANKS Exchanges Included March-May
a diferences 1> 250 to 205
points: May ula to May new 79
jelite and July old and new at? 20 polists.
The sit market ruled dull interests snark int
with factory
Hrne Future closings Wf51 unavailble today
SINGAPORE
HK Bank INSURANCES
Vajon
1 anbar
SHIPPING
Waterbost
(740)755
ונf
20
24
DOCKS, ETC
7013
33333
K Wharf Bock
Provident (01 13.20 15 50 Wheelock
LAND, ET
HK Hotel
10 110
800 500
1000
70 TH
(21
Year
GOLD AND DOLLAR
RESERVES
HIGHEST IN JUNE
NY COTTON
TURNS IRREGULAR
New York, Jan. 31. Cotton prices today turn. ed Irregular after the
new
MALAYA MAY
GROW JUTE
Kusla Lumpur, Jag. 22. . The Malayan. Federation
Minister for Agrienture,
Inche *Abdul APIBRA Ishak, is to viai Bangkok to study the possibility of Introducing Jule growing to Malaya.
He has already foured rice growing artka in the sizle of Selangor to dlawn with farmura thetr views #11 growing the new crop, China Mat Special.
crop deliveries scored gains STOCKPILE
up to $1.50 a bale.
At the close the list ruled 12 points higher to 0 points lower.
polnia, New Orleans closed up 16 to off point.
Paris, Jan. 31. of The Directors
the European Opening prices were up 3 to 14 Payments Union, clearing house for debts between the seventeen countries in the for European Economic that the year reported
Organisation Co-operation,
17:30 1715 1500 1240 ending last June was "very satisfactory
from the economie point of view.”
下
2025 203
A Rubber
1 70
TREINT
2%
The mabber market opened, lower on oversens advices
short-crvALLIDE
11 Land
Really
atuBER
UTILITIER
Thamm
Star Ferry
24 60 23 DO
13
Y matte Ferry 100 200 300 100
strumbed
OPTI
Futures
No i entben per ib
Feb
Indy -TOPS,
Mat
107-07
Am
unquoted
Feti
100% -100.
4
100-1107.
102-103
1071-100
05.01
071300
LONDON
་་
No 4
No 2 rubber per Ih
Spor rubber unshaded
No 1 pole crepe
Blanket
LARI 10 22 30 221% 5000 k
Light (N
Macau Flec
Triptione
Members' gold and dollar reserves reached their highest postwar level in June, but there was a substantial increase
17 1750 1000 1000 in visible trade deficits.
435 43 3000 $31
30 22
90 HP 17
101
+5+234)
100 - 43*+ 200 43'.
300 9 bu
Starau Elec
IN,
as follows
17-32.
INDUSTRIALS
betterment once (77
C'ement
6,30 33. 33, 220 33,
371, 37,
316-2
Hupe
STORES. ETO
30-30'
DRITT
1800
29-251
Watron
29.31
Kwong Sa475
Hong
109
fman J
purts
CUTTONS
Præces closed in pence per lb
No Ex
Fel
Mar
Apral
Abri/June
July/Sept
Del/Nov
Feneral markets
Feli
Mar
April
יון
31-32
Crepe thicke
พ
34
inted re
1200
Textile (or by st MISCELLANEOUS
?! K & FI
Yangtze
Allied
Invest
145
TH
Recognise your. report sufti
but their imports frin Ing the
between the rest of the world rose only relations liberalisation Mensures nucl 91x per cent
healthy econuenir
member countries to advanc loword Syste
1500, 90, Reni zai
condition".
Import Berners had been grunted more readily and The atmosphere 121 the Belds of trade and payments had become much freer, the 100 1140; report added
"Parallel
with their dividual efforts w**LË successful conclusion
RAILROAD STOCK
SPLIT LIVENS WALL STREET
New York, Jan. 31.
Atchison,
ان
tort- than
New crop months weak zuen after publication. of the mid- January purity price support. Under a new formula, the rate wax pit at 34,84 cents a pound.
US Motor Industry
Revises
Output Estimate
New York, Jan. 31.
The mammoth American motor industry is showing signs in the first month of 1956 of drawing in its horns in the face of increasing buyer resistance and a sluggish market.
Some top spokesmen of the industry have warned of 1956 as a year of keen competition makes sharpened by the onslaughts of oversens manufacturers led by the builders of German Volkswagen.
REDUCTION among domestic
ALLEGED
London, Jan 31. Officiais declined to comment
strategic
on newspaper reports that the United Kingdom's stockpiles of food ofl, metals and be drastically chemients would
Under the old formula used for December, the partly war reduced, 36.09 cent n pound. Selling Informed followed trade rumour that the government might decide to sel the 1956 parily lean site 11 80 per cent of parity.
Revivin textile markets acti- vity, plus a tightening spot situation in the wake of heavy
loan impoundings and Washing- ton price-propping proposals
[stumped early marki sentiment.
traders the
of
ميات
row
sources said
thant
the defence White Paper due to
10
be published on February will probably contain a policy statement about future ro serves and may outline govern- ment plans for some realignment of existing ofocks.
Earlier
newspaper
reports had suggested that the Minis- tries of copper,
tin
and zinc all lost ground on metal marketa but merket circles thought that this had no visible connection with reports that stocks would be reduced or that government would suspend purchases.
Stocks turned
аге
over
cor
more
Authoritative published esti- mates were that United States
denters still have than 600,000 new cars on their hands out of the Industry's record 1958 production of nl.. mosi 8,000,000.
Meanwhile the Chrysler and Ford companies have laid off sizeable percentages of their workers Other companies were: expected to follow sult within the next month.
Instalment Buying
LONDON STOCK MARKET VERY DULL
London, Jan. 81, End-of-account considera. tion dulled trader interest and most sections closed un- changed
fractionally lower in quiet dealings on the London Exchange to. day.
British
was
the
ог
The industry's own estimates Members continued |
reserves of gold
SELLERS CAUTIOUS
for 1950 production are being a wider and dollars continued
Kovernment stocks The most opti- In addition to the proposal to
scaled down. of trade and payments crease, but more slowly
during the previous year and of capital nuvements
restore rigid 90 per cent of
mistic forecast is that not more opened firm, then fell back when pority supports in pending
than 6 million passenger cars support dwindled War Loan off 28/16 at one point. At the end
the second
will be turned out Main Features
farm cglalation,
Losses among the quarter of 1956 their combised
"gilis" ran noted
reports
Senate
around 21/8 nt the close. holdings
$13,700 Agriculture reached
Committee may Authoritative
Bourges here
Dealers who have o clover
Industrials attracted tile a1- millim the highest
that there was no basic postwar propose to isolate between two stated
touch with the driving public tention. Courtaulds, Woolworth, level
and 2,500,000
change in the United Kingdom than the manufacturers buies
have and Borax Consolidated eárod Austrin, Denmark.
Д Northern curton n strategic reserve, polley on stockpling.
reported in a disgruntled sort at times, while Hawker-Biddeley Ireland, Portugal und
from the Sweden apart
already
of way that prices are too high was on
By strong side. always look their first steps towards authorised set aside of three lo
being for the mass market recently closing time the group showet und adjusted damaged by liberaUsing trude
the four million bales. with
without disturbing the market, ment
Federal govern-u sprinkling of small losses in-dollar arta. Germany and Bri-
instalment Oils were Rctive, Royal the BOLLITES authorisu-
said. tain extended the measures al-
They added tions to Spain for
not to be expected Mail
15,000,000 | that it was and 20,000,000 to Korea, helped that at present when the Gov. to make sellers cautious. Most ernment was working on plans to reduce British living costs of the offerings come from firms, presumably
that there should be heavy pur- liquidation against
spot cotton purchases, chases for stockpile purposes. and
realising by recent buyers. China Mail Special. News Huai
the Agriculture Department will not use discre tionary powers now to permit substitutions
cotton pur Chicago, Jan. 31.
chased from
the government Most grains moved stocks in filling export commit.
The
of the ready taken. -China negulations for the European Special monetary agreement which, wher
It comes into force upon termination of the EP in
the
connection with the return to CHICAGO GRAIN
convertibility by some member countries. will govern pay- ments relations between mem- ber countries, “'
The main
now
features of The payment agreement OTE:
MARKET
Culton
purchase,
on
the
to ahead to the day's boatments, helped stabilise the near- for levels
Traders said of by months. the Board on of Trade today
decision removed fears, for the after a set-
present, that some of the lower back from profit-taking, grade cotton might find its way
into domestic channels.
1 A European fund A five-for-one split
provide short-term credit for
members in case of balance Topeka & Santa Fe late today sparked payments difficulties.
dull stock what had been a higher but market session.
over
Enthusiasm on Santa Fe spread to other rails and gave them a lead industrials although interest in oils helped another group to rise sharply late in the day.
Commerce
The unexpected split, subject lo stockholder and Interstate Commission ap- Santa Fe up 13 points to $151. It held nearly 12 points of the gain; giving the Dow-Jones retroad average u
proval, sent
lift of 3.21 points
un the day.
its best Aince last November 29
and the second best since March 19, 1933
Industrial Average
Industrials were up 3.18 on overage. for below
the ralls given
basta a percentage Standard Poor in its dollars- and-cents computation, found industrials up 40 cents a share, rails $1.43.
to
ότι
Other rails had gains ranging points in Union Pacific, Ford Motors fell sightly below the offering price of $64.50. It recovered later to $04.59, how-
ever
Out of a total 1,172 Issues traded today, 808 were higher, 310 lower.
New
Corn Products
Crows Zelje: tachi
70%
4514
Cuban Amer Suga Curtis Wright.. Dinrand Aboli Dow Chemicals
10
21
4314
A01
Dupont de Nemours
2162
Eastman Kodak
El Pono National Cias
Erie Railroad...
203
Family Finance Corp),
231
General Electric
General Foods
Concini Motor
Gen. Pub, Vill
Guletto Safety Razor
Glidden Co..
Goodyear Tire
Heyden Chemical
Homstake Mining Co. Inland Steet Co. Interchentical Corp. Int'l Business Machines Int'l Harvester
International Nickel
Dat'l Tel & Tel..
Kansas C., Power & Light
Kennacott Copper
| Liggett Meyers Tub Co
Lockheed Aircraft Loews Incorp
2. Credit
wili Onanted from the capital
the fund, which is fixed at $600
million.
be
of
Now
wheat crou
contracts resisted the firmer trend, how- ever, because of favourable crop and weather news from
the
hers to settle their clatos un coltonseed
London Foreign
Exchange
New York
Montreal AmsterdamTA Copenhagen Frankfurt
Milon
The certificated stock was uti- changed at 13,851 bales.
Parta Stockholm Volume and
Zurich open
• 3. A multi-lateral seille- southwest wheat belt. ments system will enable mein- | Continued firmness in the were:
Dnd soybeans ll
Month other members fully in gapl markets, as the result of prospec- March
tive heavy export sales and in- May 4. To avoid fluctuations,
for July domestle demand frenced
l. members must fix the terms of these products. bolstered soy Dec. their own! currencies buying bean futures. and selling ratey
gold, United States dollars and other currencies.
for
Sharpest Rise
The report made these points. about general economie 54lopments during the year
der review-July 1954 to June, 1955.
Interest
35,460
34.73-74
London, Jan. 31, -80%-280-11/10 2.80-8/10-2.30% 10.6222-10.03 13.01-13.02 17,20f-17 20-15/10 1754-1755
95394-004 14.62-14.521 12.243-12.2011
-Valled Press.
Others were unchanged
checks
buying.
Dutch sparked the group with a guin of nearly 1. But Shell Apart from the official ban; and British Petroleum lost against
extraordinarily easy about one shilling. payment terms no depoelt and
Copper issues were firm. Gold two or three years to pay-the} nhares were hagely neglected American buyer more careful.
is becoming German Potash loans high- lighted the foreign bond section. They gained £1, while other foreign liens moved narrowly in
quiet trading.—United Press,
The car debt has frequently led credit-buyers into Bñaucial trouble, something not forescen iri a boom but felt immediate
ly the edge comes off a boom as it has now.
Sales Jump
Mr Alfred Sloan, General Motory chairman, recently mentioned plans of three over sess Arms to invade the United States market On a bigger scale,
New York Sugar
Market
New York, Jan. 31. World No. 4 sugar futures closed today 1 point higher to 1 point lower with sales of 30 contracts.
The domestic No. 8 sugar futures closed 1 to 6 points lower with sales of 181 contracts.
The small trade in world con- tracts was mainly between tride interests.
March liquidation and hedge
New York Foreign but one of them is the Volk-selling, with the lower raw basis,
Prices of futures closed today
33.02-06 31.40-55 34.37
31.34-37
31.13
Austraila New Zealand Bouth Africa Holland Uruguay
والطلاق
30.00
30.52
2625
United Press.
Volume 19,900
Open Interest,
507,000
21,300
509,000
23,500
230,000
20,000
211,000
19,000
170.200
March
15,200
27.100
Wheat closed up 1% to off cent; soybeans up to off
May July
3,300
39,100
1,400
7,500
Exchange
Total
105,900
1,890,800 bales
font
NEW YORK
deve-
Spot
Mar. 213(1) 2704 (1)
May
CLOSING PRICES Prices per bushel in cents: Wheat, No. 2, red
2100 2081-200
¡as follows:
Салада England-official
30-day futures 10-day futISTOS
New York, Jan. 31.
$1.0011 2.00 4.0011 2.7994 2.244
Spot
2.79-13/10
212-96
Mar.
7.8156
May
2014
July
Sept
20011
18%
010
401
index
of in- The general dustrial production of member countries combined (1950; 100) rose from 128 for the second quarter of 1954 to 138 for the
Nov
1972-
20413-3
Oct.
Dec.
Corn, No. 2, yellow
Spot
Mar
May
July
12855 15091- 13412- 13014-75
24 May July
200 second quarter of 1988.
501 This was the
Sept.
13874-
Nov
1354
sharpest
rise
as follows:
GOT
since 1980-01. The Index
Ryo
un Mar.
1251
Spot
May
121
Mar.
30
10%
(1950: 100)
rose
Oats
KAY
7
45
10th
from 107 for the first quarter of 1954 to 111 for the
MAT. Blay
0534-14
July
0514
Out.
first
Soybeans, No. 2, yellow
Dec.
Mar
Spot
24070
May
increase of
Mar
2403,
July
May
25234
July
LIVERPOOL
Sepl
2437
Nov. Harley. Spot
230is.
130-140n
ib.
were as follows:
13.40m
Old contract
United Prens.
46
Co
#713
MT
Lone Star Cement Co. oulsville & Nashville Lowenstein & Sons Mesabi Iron Corp. Minnesota Mining Monsanto Chemical Montgomery Ward Motorola Inc.
National Cash Reg."""A National Dairy Prod. National Distillers National Lead National Steel Corp New York Central averages Oun Mathieson
York Stock Exchange bond volume was $5,110,000.
American Stock Exchange volume was 750,000 shares.
Dow-Jones closing
wore as follows:
30 Industriala
20 Tails
15 utilities
63 Mock
40 bonda
Com
'
future pric
price index
Closing Prices
Alden Ine. Aty. Allied Chemicals Allied Mül Ine. Allis Chalmer
American Artine
150.28
Oils Elevator...... Owen-Illinois Glam
420,74 Pacific Gas & Elec.
Pacific Western Dit ... 61.80 Pan American Airways 11.04 Paramount Pictures
10.04 Parke Davis Co. 101.23 Penny J. C. Co.
Pano, Balt Co.
Philip Morris ..
Philips Petrolatum
Publicker Industries
Procter & Gamble Co
107
Pure Of
34%
Radio Corporation
23
003
Republic Steel
Saint Red, Paper
651
Sinclair.. Úší
Am. Mach. &
dry.
241/1
Soceny Varade
Aeromas Metal
South Porto Riso Super
American Smelting
Bt xd
Southern National Gas
Americans Tel & Tel
American Tob. gi
Standard Oil of Cai.
American- Cyanomide Co.
Anaconda Copper
Armte Steel
Armour
Benguel Cons
Borden (The). Cugini
Faurougbe : fikt. 1 pohine Canarina Bacuto R.
C.X, 77 Financial Corp. Cat. Tractor
Calabem Corp. Chrysler Maform Colgate Palmolive Ca. Corrieria,
Consolidated
Contitela - DM), Continental Ston
Mandard Brands
Startar. Qii.at Ind,
Feel Buddard Cil of N.1..
181 Studebaker-Packard Corp.
BWLR de Co.
29) Tide Water „Amin. Of
Twenty Century Tox Tim 2014 Uiston Carbide
47
Union Pacino, railway
United Alterati U.S. Rubber 3416 UB, 8meltin
U.S. Bol
3133 Warner, Bros. 424
frostinghouse Wyketria
96 1wootworth
24
employment In the manufac- turing field
substantial
was
an
in payments W33
the
New York flour
200 lb. rack
NEW ORLEANS
Prices of futures closed today
LONDON METAL
PRICES
London, Jan. 31. Prices of metal closed today in sterling per long ton na follows:
34.25
34.75
34.12
33.00-12
SLAT
31,37
Tin spot
31.17
3-month
30.05
Copper spot
10.47
3-month
Lead 2nd half Jar
April Zine 2nd hall Jaru
Future closings, in pence per
March/April May/June July/Aug. New contract May/June
July/Aug.
Oct/Nov.
Dec/Jan....
25.64 24.38 23.75
29.10-15
27.10
25.85
25.13
20% quarter of 1935.
"There salaries and wages in practical-
100 ly all member countries which
4216 in most cases was sharper than In previous years," the report 30% sald,
Major developments 2016 Unlance of
60
increase in men- bers' visible trade deficit. Taken
as a whole, they ran a trade de- ficit with the rest of the world during 1953-44 of $2,800 million,
Dollar Imports
In 1054-55 this rose to $3,000
4 million. Exports increased from
Singapore
Stock Market
Singapore, Feb. 1. Brokers today quoted the
$10,900 million to $11,500. But imports rose even more steeply following stock prices:
44 from $13,700 to $15,400 million.
Ltd. Mombers deficit with the dollar Batu Lintang Rubber Co. xderen rose from $1,600 million in Britai 221 1058-54 to $2,500 million 37 1954-55,
Future closings, in cruzeiros por kilo were as follows:
40.40
buyers sellers
779
781
768
300 2014
381 38132
117, 11812
1144 118
100 101
104 D
-United Press.
NEW YORK METAL FUTURES
Now York, Jan. 31. Prices of metal futures closed [today in cents per db, as follows:
Lard Feb
Exvallon. Karnak
"March/April
United Press.
SAO PAULO
30.00 30,40 30.00
Th
21c Feb. Copper Feb.
Mar. Feb.
Mar.
Dar.
Mar.
-United Frem,
32.30
32.00
In the US, the average price
of 15/16 miding cotton at 14 NEW YORK GREASE
March
Opening
May
July
#1.87
Det
2011
Dollar imports increased in all member 'countries
Petroleum in Syndon La
Cormalidated. Ths Bmaltern
OT Frajer & Neave Ltd Ord, except Fraser & Neave Ti1⁄2 cum
Hongkong
Borneo
.29/3d
$1.00
30.05
Banking Corp.
Hamper La. Taman Rubber mates Ltd. Malayan Brewerian New Berandah, Bubber. Co
Li
so Iceland and especially in Bri- 18113 tairi,
West Germany, Holland and in Denmark, the only mum= | Hangtong Men LA. bar, country which had a dollar trade surplus,
Reasons for the rise in dollar
1007 Imports included rapid span Peteling in Lid.
0% sion
economic activity, Tames Hots 6590|| 3(beralimation on trado | UNL | GLVERDore Cold Storage 00% brger quotas,
South British Insurance Co. During the year under reviewLIE
Strate combined members
imports Strata alementali wero, higher trom the dollar Union Enamneses. area than during the previous Wearne
designated epot, markets was 34.55 cents. Sales totalled 34,100-
sodo od bales-United Press
BLAT
·Mail Sped!;
WOOL MARKET
New York, Jan. 31. Grease wool closed today steady, 7 to 10 points bigher.
Exchange Rates Closing prices in cents per lb.
(Bustnem
vás Borse is the lock morning at the following rates: 1-7.6, dollar (per 81).
Australian notas (par. £1) ...) IndorsemeŢa rupiah (per 160). Blám tiesi (per 100). Kingapore" (štraila)
were:
134.0-133
upset the domestic contract.
He did not name the three
swagen company, which In less than three years had become Futures: the sales leader in the foreign car market of the United States.
Volkswagen sales have jump-
Oct.
Contract No. 4 {world}
March
May
July
Bept.
Spot-teenta per ib.
Tob Cuba)
Contract No, é′′ ́ ́
the
March
May
July
(about
£140)
Sept
below thai
of the cheapest
Nov.
American Special,
car. Chinn
Spot-icenta par ib.
talled"
ed from 8.000 to 1954 to 85,000 last year and aim at 60,000 this y cur. The reason is not only the cars' efficiency for "small mon" but also its price is about $400
elf NY ex-duty)
ક
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