1956-06-06 — Page 9

TRADE

SOME NEW YORK SPECIAL ISSUES ROSE SHARPLY

By Dorothea Brooks

New York, June 5. Stocks moved in a routine fashion today with some issues marked back.

A handful of special issues rose sharply and held their gains while the main list improved frac- tionally in early trading then slid back to close about unchanged on balance.

Turnover

picked up slightly to 1,050,000 shores from 1,500,000 yesterday,

Won

Outstarkling wrong

Billi-Corona, up specials 136

the

the awardati court of cladena line about $10,500,000 for Gov- ernment Land of 14 of its shijs during World War 11.

Industrials

03

J

group

10 $42% JOE divident averaged down 0.03 en the day, increase and merger talk which | rulls off 0.07 and utilities up was later conarmed,

American-Hawaiian

0.10. Of the 1,130 1senes traded, however, 500 were higher, only

Steam-376 lower.

ship run up 0 to $110 ns a US

1956 Cutback

In US Production

merce

There was derrund for non- ferrous metals which lifted Ken- necott Copper 2% to $122.

% to $146

Bethlehem rose

in the steels,

Motora were narrow.

in olla, Continental galed 2 to $110, while Socony Mobil dropped a point 10 $11% and Texas Co. to $128.

Halls held in

very narrow range generally.

New York Stock Exchange bond volume was $3,670,000.

American Stock Exchange volume was 620,000 shares,

Dow-Jones closing averages

were;

New York, June 5. The Journal of Com-

did some

figuring today and came with some interesting data just how the 1956 cul- 40 onda

оп

back in US production of

now

30 Industrials

20 vals

I utilities

05 stocks

Comm future price index

automobiles affects Closing Prices other industries.

Taking

the

Industry-wide Allied Chemicals

| Allied Mills In

four-door passenger model with All Chalmers an averagó net weight of 3.826|American Airline pounds, the trade daily estimated | Amortenn Cable & Eladio Corp.

Amertean. Cunamide

that the ear contains 92.26 not in Mach Táry pounds of textile products, in-

cluding

upholstory

products

American Metal American Smalting

carpeting, padding, fell, thread American Tel & Tel

and tyre cord, tk.

auto industry

In 1956, the produced 7,942,125 new

CATR

Forecasts for production this

Amaroon Tob. "B"

Anaconda Çupper Annace Slee]

ArmoHLET

year vary from 3.5 million to Bengues Cond about 8 million.

Co

483 19

103 41

63,93

173.24

PG 34

151 80

THE CHINA MAIL, WEDNESDAY, JUNE, 6, 1956.

and

COMMERCE

SECTION

US RESERVE AID WITHOUT STRINGS Germans Building

Washington, June 5. Tho Federal Bemeria System added to reserves of the nation's banks f

Ita

the Wrok endod last Wednesday by Incregalur

holdings

of 91-day Treasury bills by $195 milion.

This addition followed the recent indications from Federal Reserve sources that ries would be taken Lu supply commercial banks with reserves to help them to meet seasonni needs. It wra indicated thai tho Re- norves was mindful for the of ex. immediate present

panded credit requiremKOTI ÎN of corporations to pay On June 15 their Federal In- come taxes. → China Mall Special.

WORLD

COTTON MARKETS

New York, June 8.

ū

Colton futures trading

OX-

poked along at an tremely slow pace today as awaited now traders incentives.

Pricer

see-sawel

the

Western Assistance HONGKONG Textile Factory

And Development

In South Asia

By GEOFFREY TYSON

A Member of the Indian Legislative Assembly from 1944 to 1947 who has recently ro-visited South Asia)

There is much evidence to show that the tempo of economic development is quickening throughout South Asia, particularly in India.

STOCK EXCHANGE

In Afghanistan

Bonn, June 5.

Several hundred German engineers and (From Our Correspondent) technicians are in Afghanistan building what will Business done on the Hong-be Afghanistan's largest textile factory-with a kong morning amounted to approxim- proposed annual output of more than 35 million ately $700,000, Noon quotations and the morning, transmetres of textiles-and her largest hydroelectric

Shares

BANKS

HK Bank

Stock Exchange this

Dayers gellora Eas

30 #1030

..... DOY

24 4 DOU

600 4 43

East Asia INSURANCES

in Lombard**** SHOPPING Walerboat

(0) Waterbost

(N)

DOCKE, ETC

War

100034

21

20

的

200 93-

4314

Provident

10)

14.20 14.40

1300

13.70

The acceleration can be attributed to a number of factors: a series of good monsoons which has perceptibly eased the food position; the terms of trade have tended to favour producers of Industrial fibres and such commodities as rubber; "national plans" have overcome their initial diffi- culties and gained a certain momentum and, last but not least, a steady flow of external assistance -particularly from Britain and the Common-wheelock

and the wealth countries

US has been LAND, ETC.

pock

HKC Hotel

Humphrey Realty RUBBER

forthcoming in the form of "aid" and private Land.. investment capital.

(have refused to do, is allogether Indeed, it is one of the para-

situation too disingenuous. The foci in- doxes of the present that the rute of development (and this is particularly true of India-that technological 'ad- narrowly, attained in South Asin, which is

to Colombo ivances are now occurring on remaining submerged just below partly attributable

and the previous etose most of the Plan

other form

of such a wide industrial front that Wesleri assistance, is now equipment and "know-how" are slay.

beginning to

attractive required create

quantilios that were Observers estimated

a (ew years Russia and volume below the 27,700 bales business opportunities for Soviet not contemplated

other Communist ago. That, in itself, is a tribute

to

of the effectivenes

the which was countries, which have not been

sociated with the various rational plans and

And Western aid alike. trade of this vast area. naturally they are not slow take advantage of expanding markets and the increasing de- mand for industrial and other equipment which national plan- ning brings in its wake.

chane un

Morisy.

A five-historically the third smaltest for hour session in almost 20 years,

The commodity exchange

records authority, where back to 1937. showed the previtnis low at 19,300 bales on the recurd May 4, 1943, with low of 18,500 bales was

made

Markel experts attributed te inertia to continuing uncertain

Helping Hand

to

Impressive Record

works.

The textile plant is to include à weaving mill and a textile

printing factory and is being at CHICAGO GRAIN

Bulbahar. The hydroelectric

a

plant, at Sarobi, will have capacity of 24,000 kikowatte un hour. Both plants will bo com-

pleted next year.

Other Afghanistan projects in

MARKET

Chicago, June 5.

Groin futures were trostular

| which German firms are engaged | on the Board of Trade today.

Include an ultrashortwave finos- 1000 13.50 mitter for Radio Kabul, a large 1000 14 1000

14.30

0.00 200 49.70 3500 ** 0 80 500 13.40 100 0211

0000 @ 1.475

1.00

13.30 13.40 024. #

12.40 146

A. Hubber 1.40 1.2 10000 140

Trunt

30000 ₫ 14525

1037 1.429 30000140

A

general upturn in prices

automatic telephone network at mid-moming was caused by and exchango for the elty of report of the harvest delay in Kabul, a envtal factory, a wood the southwest, and a crop re- processing plant, and a motor car

port by the Francis 1 Du Pont repair factory.

substantially and Company lowering the winter what es timate from a month ago.

Only $10 Million

This close industrial and ..... 4755 1625 7515 or 1.35 economic co-operation between 10000 #1035 Germany and Afghanistan 27,430 1.00

bogan after Herr Alried Krupp, 1000 1,825

the German industrials, and

industrini delegation 2000 v 21.30 German 21.00 2.00

860 ur 23.20 visited the Middle and For Eart 180022 70 retaily. Although the delege- libp did not slop in Afghanistan 500 et 20.30 | L had talks with Alghan leaders

Bonus 20.30

Telephone 2420 220 3300 23.30 in neighbouring captials.

Fr

of

RL

Rt

INDUSTRIALS

UTILITIES Trom C. Light (0) 200 210

C. Light INI 20

301 3015 Electric

19.30 1019

11.00 11.20

100 11.70

C'ement Rape STORES. ETC.

Watson

15,90 10.10 1000 10 10.40

240 @ 10%

COTTONS

Corp.

3.25 EOUS

0.30

Development expenditure in the public pector of the economies of nine recipient member countries of the Colom-

But to protend, as some Combo Plan shows a progressive in-

crease: thus actual expenditure

the

year administrative a helping hand to 1953-4 was calculated

at £542 for

raw cotton surplus and applica-re lending thon of the soll bank law to the national planning, which others millions; revised estimates growing crop.

Dullness in the textile market

a quiel pointed up reports of mt demand for spot cotton Manufacturers reportedly were postponing new purchases pend-

further

developmenta in the raw colton picture,

The Government weekly crop

said the summary today was doing very well, although sume late fields were coming up in the drier plor stands

crop

WORLD

RUBBER

MARKETS

the current year, 1954-5, ore put at roughly £725 millions and. Inadgeted oxpenditure 1955-6 ts £827 millions.

for

of

programmes, proportion

It is significant that in the first three years

the Plan, of capital was offered from the Western member countries for about one-third of the cust the development and an oven larger was committed last year, though Just how much larger it is not New York, June 5.

yet possible to calculate. By any rubber test this is on The No. 1 Ras

Impressive contract today cord. closed 20 to 30 points At just before the close prices lower with sales of 86 con- studl! [ duty trade

covering tracts. finishing net to 5 points were off

The certificated

stock re-

mained at 11,042 bates. The futures

195,600 bales.

In July

totalled

higher, Opening prices

1 01

to 0 points. New closed unchanged to up 1 point.

Volume Month

re-

But in any assessment of the quantum of resources which the free West has committed to the

$114

on August 2, 1040.

241.

249%

&

70

28

ties relating to Government ex- port polley for disposal

of the munist spokesmen do, that they for

24

Bi

IBIA

DO

71

5001

13aldwin-1-m

122,

Baltimore & Olu

40%

Bendix Aviation Corp

0011

Bethlehem Steel

1467

ing

Being Airplane

821

CONSERVATIVE

According to

Borden (7her On

Burroughs Add Machine

307

the Journal of

Canadian Pacific H

30%

Came 13 Co

137.

75

13.

to

445,

007.

arcas.

401

{"enunonwealth Elec

40

Consolidated Edmon

40

open position

Continental Oll of Del Crane Co

3

Crown Zellerbach

(47.

Cuban Anier. Sugar

13

Dianu Alkali

2

Dupont de Nemuties

2001

Destinon Kodak

Pono Nations Cras

4pt

Erie Railroad

Family Finance Corp. Ford Motor

Open interest

July

7,800

123,000

621

8724

Out

4.400

207,100

Dec.

4,500

400,100

9431

Mar

3,000

235,200

May

200

130,400

30

July

Och Телесик

300 2,200

20,800 27,700 1,450,200 balen

NEW YORK

118,000

in cents per lb. as follows:

Spot

Int'l Business Machines

July

Int'l Harvester

Oct.

32,50

International Nicked

Dre.

International Paper

Mar

12 74

In Tei Tei

May

32.59

Kanos C Puffer & Llati

July

3190

Oci

30.JU

July

220.50

Kennecott Copper

Lyell Meyers Tob

Cu.

NEW ORLEANS

September December

Standard contract

Jutky

20.70

in cents per lb. as follows:

Spot

30

September December

25.75 2450

July

Merch

34.06

34.58

Mae

Oct.

Dec.

32.05

Mer.

32.74

May

32.00

July

3138

Ocl.

30.96

LIVERPOOL

Commerce's "conxrvative" esti-Cat Tractor.

matc demands (wood,

the

aulo

Chrysler Motors

industry's Celanese Corn for textile products Financial Corps' cotton and man-made Abres) will shrink this year by about 200 million pounds from the high levels of 1955.

20

| Gigante-Palmolive Co

Commercial Credit

Dow Chemicals

It catimated the typical four- door passenger car also contain 88.4 pounds of malleable Irun; 11.30 pounds of aluminium and alloys;

about

pounds copper: 15.6 pounds of conper allays: 30.4 pounds of lead and Its alloys; 36 pounds of zine and Ita alloys: 17.33 pounds silicon: 1.4 pounds of tin; more General Motors than 70 pounds of glass; 10.1 Gen, Pub, UG1, 55 pounds of lubricants;

General Electric

of Gent Foods

pounds Getty ou

Güdden Co

of paper; 20.6 pounds of rubber Goodrich (B.F) Co.

д

compounds, more than 5 pounds

of various types of plastics; 2.8 pounds of asbestos; about half pound of cork; plus other quanti- Licg

Inlea, foam

leather and other

United Prosa.

rubber, products.

Goodyear Tire Heyden Chemical

Honelake Miring Co. Ingersoll-Rand

Inland Steel Co

Interchemical Corp.

John-Manville Co.

Singapore Stock Market

Singapore, Jume 6.

Brokers today quoted the fol- lowing stock prices:

Lockheed Aircraft Loews Incorp, Lone Star Cement Cu Lowenstein & Rons. Membi Iron Corp. Minnesota Mining Motion Devatopineæt Montgomery Ward

Motorola Inc.

National Cash Reg. "A" National Dairy Prod.

Opening National Lend

National Steel Corp. New York Central Olm Mathieson

Republic Steel

at the

or

survey

Dairy

Textile

MISCELLA Yanguze

Allied

****

Last year

West Derman porte to Afghanistan totalled only 11600454.75 $10 million and her imports from Afghanistan $3 million. Officials аго confident, however, tttut trade WU

considerably

London Stocks

Show Signs

Of Recovery

be

stepped up in the future.

of Germany Representatives and Afghanistan have been close touch recently to expand

and trade mutual

C

sources

A brge

here Buid

to be

credit,

jointly by the West

Government and Industry, under discussion.

Watchful Eye

The Germans are

ber

The wheat Agure was cut Borne 57 million bushels from the May estimate, and is off about 20 million bushels from the May 1 estimate. Very little selling pressure was noted the wheat during the session, and advances carne easily.

nervous

the

and

Soybeans were erratke throughout

day. Crop remains generally favour- able over all soybean producing

RTC03

Wheat closed up to cent; soybeans up 2% 10 off cent

CLOSING PRICES Prices per bushel in cents:

in

Wheat, No. 2, red

Spot

July 20714) 200 (1)

2001-9

diploma-

Sept.

that Είναι

Nov.

Mar.

208 21111-13

113-12

German

was

Corn, No. 2, yellow

Spot

Sept.

Nov,

Mar,

Ryo

July

Sept.

10

in

Oate

July

Skept

$1

Economics Soyheans, No. 2, yellow

Spot

July

Sept

872-3719%

to

Nov,

Jan.

Mar,

conducting

the discussions with the intention of assisting Afghanistan

industry develop London, June 5.

accordance with a point four and Stocks recovered after

a half programo designed by German three gloomy sessions and the West closed generally steady on Ministry and industrialists. This plan is similar to the American Exchange the London

"Point Four

Programme" today.

assist underdeveloped countries.

German firms, such as Krupps,

M.A.N., Hoch Und Barley,

British Governments, aided by ahort covering, posted advances running to seven shillings with Siemens, War Loan

the

LONDON METAL PRICES

and Old Consols in Tiefbau, and others are turning The standard contract closed region some mention must also unchanged to 30 points lower be made of the role of private the lead. But interest was tern-a watchful eye to the new

investment and enterprise. Orleans with sales of two contracts.

pered by weakness in the pound market that will offer itself to sterHng and not-too-encouraging them as soon as West Germany closo

Afghanistan Prices steadied

strant It is not easy to collect

Britain's gold and can reports on trade

planned credit. Chino Mail recent dçiler reserves. under local covering and a

collate statistics, but a dermand, prompted apparently

Industrials fired and managed Special of foreign capital in that country small by firmness of shipment offer- Reserve Bank of India

gatas. Rolls-Royce was ings. Earlier, prices eased with shows that in the period 1949-

feature, adding about a shilling, the London markel and profit 53 there was a not addition to and Imperial Chemical also add- laking by

sume ct Monday's private foreign investment of ed on shilling.

approximately £100 millions of buyers.

LIMITED VOLUME came from Lifting of the Malaya ban on which 82 por cent

Olis brightened on limited volume. shipments of crude rubber be the United Kingdom.

Royal Dutch Rdded hind

and Burmah and the Bamboo Curtain' ap- peared to die out as a market

Petroleum joined the influence overnight, Factory th Spot No. 1 terest was limited.

was quoted nominally st 27 cents a pound, Futures:

No, 1 Rs

Prices of future: closed today

30.Con 34.60

32.00-17

Prices of futures closed today

Rasi

July

SINGAPORE

Barter Deals

And this further point be noted.

nearly British

122

Spat

390-140

New York flour

200 lb. mck

$13.760

WINNIPEG PRICES ·

Winnipeg, June 6.

Prices of grain' futures closed

today in conts

foliowe;

Oaks

July

Oct.

London, June 5. Prices of metals closed today | Rye

Dec.

in sterling per long on

a

July

Oct.

buyers Bellers

Dec. Barley

140 741

July

J-month

740 741

Oct.

Copper pot

307

300

3-month

107 208

Dec. FlaxseedTM

Lead at half June Sept.

Beat,

11111

July

106 100

Dot.

1234 2314

Dec

fnited Press.

modest advance. Anglo-Egyptian follows: "B" was a loggard and closer more than a shilling tower on Tus spot may the day.

R

Dollar stocks improved in Iine with Wall Street. Gains rom up one or more.

Whenons most South Asian tratauctions with the Comanu- let countries are in the form of barter deals, or self-liquidating orodits, Western collaboration, Foreign bonds were dull with particularly British collaboration Japanese liens fractionally lower. (crtaide the pubile sootor), · con- |--United Press.

Profit-taking weakened gold Zinc 1st halt June shares, and coppers were almost motionless.

slats almost wholly of

per-

manent investment of privately

owned risk capital, which i New York Sugar

After hesitant opening the revocably committed to the market steadied with sellers recountry to which it is sent. served. In the afternoon sellers mot market and prices gagged

Future closings, in pence per until towards the close when

July/Aug.

Oct/NUV

Dec/Jon

Mar/Apr.

* SAO PAULO --

felt London Foreign

20.00

2945 26.03

somma resistanco Futures: No. 1 rubber per "b. June 7375-78 July | 74-14JA Aug. unquoted

Was

2430 No. 2 rubber per 1b.

24.06 No.

Spot rubber unbated

23.93

No. 4

*03,00

Blanket crepe

No. 1 pala erepo

Exchange

154-104] New York

98-100

Montreal Amsterdam Brussels

LADGON, JUDE_5. 3,80×1/18-2.301 2.773 -2.77-7/10 10.40,5-10.00

1991319.38

Market

New York, Juno 5. World. No. 4 sugar futures today closed 3 points Iowar to 1 point higher with no sales re- ported.

Domestle No. 6 sugar futures closed unchanged to 3 points higher with sales of 97 contracts, Both contracts ruled quier pending developments in the raw and relped markets.

Futures:

Batu Lintang Rubber Co.

Lid.

$1.02

Ziritish Domeo Petroleum

Byndicala

OM.

Consolidatort Tin Smelters

47x0d*

Otis Elevators

Owen-itinats Glas

73%

2813d

Pactic Gop &

Elec.

1b. were as follows:

Fraser & Neave Lid. Ord

81.89

Pan American Airways

Old contract -

FTASOT & Neave 1

cum.

Paramount Pictures

July/Aug

pret

$5.70

Parks Davis Co.

New contract

Hongkong & Shanghai Bank-

Penny J. C. Co.

my Corp.

$870

Penn. Salt Co.

623/2

Кетрая ла

Hongkong in Lid.

6

Phlip Mortis

$1.69

Procter & Gamble Co.

100

Lune Rubber Estates Ltd...

D.TO

Plisburgh Plate Gluns

08

May/June.

Malayan Breweriți ........................

$3,43**

| Publieker Industries

Now Serendah lubber Co.

Ltd.

| Pure Oll"...

July/Aut

Egyptian Karnak

$1.00

Radio Corporation.

4312

• Petaling Tin Ltd.

$3.42

Ramon Hote

Reynolds Metal

Singapore Cold Blacago

$1.45

still on Co. ...

Frankfurt

Bouth British Insurance Co.

Saint Reg. Paper

July

Lid.

221,50.

Binclair Oll

per kilo were as follows:

Straits Trading

$23.25

Bocone_Mobiloil

June

Siraite Siamanip

$11.00

United Engineer Ord.

$7.70

Bouth Pupeto Rico Sugar, Routhern "National Gas L

July

inquated 5420 607.20

per lb. Prices:

*1.77

Southern Railway (Com))

Dec.

39.20

No. 1 spọt

Mar.

30.00

NAR Bettlement house term:

2336-293% Zurich

Milas

Stockholm

others were unchan

Sept.

Oct.

Mar.

MAY

Standard Öll of Cal.

Atay

304b

July

United Press.

July Sept

per lb.

Standard Oil of Ind.

0011

The average spot price was unavailable today. Salos at 13 | JulySept. markets totalled 7,655. balez, --- United Press.

AUR

Sept.

Contract No.

| Oct/1960.

Jar/Mar

27.

5.50 5.54

Apt/Juss

0.07

120

Tide Water As, Oki mina

Warne Brodet exdiv-China Mail steder Brands

Special.

Standard Oil of NJ, Sterdiner Drug Co.

Stoicaky-Van_Camp,

NEW YORK METAL persPackard Corp.

FUTURES

New York, June B. Prices of metal futures closed

today in cents per lh, as follows:

Lend

Texas Co,

Twenty Century Fox Jün

Union Carbide

Union Pacific Readway...

Tina

July

June

Copper June

July

です。

Futures closings, in cruzeiros

CHICAGO LARD FUTURES

“Chicago," June 5. Pries of lard futures closed today in cents per lb: as follows

United Aircraft

UA. Gypelin *.*

14.87b

1.8. Line O

14.78b

[U.S. Rubber

D4.70%

14.600

Un Bie

Warner Bro#.

Hept:

Ool.

Putos de Paper

Nov

44

United Pram.

13.00

United" Pro

LONDON

Copenhagen

The market was quiet with Libon spot quoted at 22-3/10 penco, Paris

General markets, cik buala, ports June

July Auk

Statale trepa linquoted"

"

AMSTERDAM

The market was quiet. Prices cloned today in gullbera per kilogram, vcít, June as folloni; No. rubber

No. 3 'rubBet

New York Foreign

Exchange

Canada England omels

100 bald.

Pakistan

New York, June B.'

unoBelst 50-day · futures 90-day: hiturve

Contract No (world)

July

Nov.

Spotfortits pee li elf NY

• @jc-chuty}

3.27

F-United Press.

Exchange Rates

·Huukritom · vial" done Jr, the deni unosiciel: skehaney: marÜNT.

Thats

140/azza | morning, st, the following rateg:---

Berling, mote (pir) #1)

Australian rotas (par

Mall Indonesian: TUJINI:Kaper, 100)

Blam tical (awe 1901:

Singapore (Stratló)

WHY DO THIS?.

When

per bushel as

Wheat No. 3. 16 cente; No. cents-Villed Press.

you can put your money

to work in World-Wide Trust and earn 8% yield ... TAX-FREE!

Write today for information

The Moroccan Bank

also known

The American and Foreign Bank

MOULIVARD PASTEUR, TAHOIR, MORQOCÓ

TANDHER'S AMERICAN BANK "

138